the spokesman declined to identify the other party or parties involved in talks or whether a complete takeover was under discussion but said an italian newspaper report that ferruzzi was studying the possibility of advancing an offer for 13 european cereal processing plants owned by the us group cpc international inc cpcn was incorrect
has resigned from the board
but trade sources still believe the fish catch for industrial processing will reach 55 mln tonnes in 1987 almost 20 pct above last year the report said
the results also included an 113 mln dlr extraordinary writedown on the value of the laid up oil exploration drillship regional endeavour
despite a sharp early fall in texaco inc bonds the 125 billion dlr us junk bond market was largely unaffected by texacos weekend filing for protection under chapter 11 of the bankruptcy code analysts said
commercial union gets medium term note program
the itcs case is being presented by professor rosalyn higgins and is expected to take a further one or two days next week
johnson recognized current concern over the cost of certificates as compared to cash but said that critics need to look more closely at the savings caused by certs noting for example that widespread use of certs in the pik and roll marketing technique last summer helped ease storage costs
three d departments inc tdd sets payout
only five of the 37 have been discovered in the past 20 years and only two of these lie outside the middle east cantarell in mexico and alaskas north slope mcivor said
share adjusted for two for one stock split in june 1986
the aim of the tax was to prevent the maize imported into spain from the other ec states with the help of subsidies from being reexported back to them
this is about half of total capacity
the us officials said the 100 pct tariffs reagan ordered on 300 mln dlrs worth of japanese goods will also show congress that a tough pro trade stand can be taken under existing laws and no new protectionist legislation is needed
other factories are continuing to process beet normally but harvesting remains very difficult in most areas
wall street sources also said today that a rival bidder might be discouraged by a breakup fee purolator would have to pay if it ends its agreement with hutton
normally i eat teishoku for 400 yen but sometimes ill splurge at shakeys where for 550 yen you can eat unlimited pizza for at least two hours still there are the extras that dent the budget
fhlmc frepr 4th qtr net
us house passes mideast gulf bill
the international cocoa organization icco last week set precise limits on what the buffer stock manager bsm could do under the new agreement
the omb is said to be against any expansion of the program while usda remains firmly committed to it
the bankers traced the inspiration for the market back to the february report of us consumer prices for january when a jump of 07 pct raised again the threat of inflation
we regard this as a test case she told parliament
the oil reserve fill rate capacity is 100000 barrels a day
p and c foods inc foodo 3rd qtr net
but the dollar quickly backed off
soybean group head urges usda action on loan
other prime rates range from 1825 to 185 pct with the majority on 1825
in november 1986 novo purchased 75 pct of shares in a s ferrosan which heads a group specialising in research and development of cns central nervous treatment treatments and the sale of pharmaceuticals and vitamins in scandinavia
measurex a maker of computer integrated manufacturing systems said the subsidiary represented less than one pct of worldwide revenues and the sale will have no impact on this years earnings
rain was reported across parts of minnesota iowa eastern kansas missouri and eastern oklahoma with showers and a few thundershowers extending from arkansas through the lower mississippi valley to alabama and northwest florida
participants in the meeting included cargill inc continental grain co louis dreyfus corp union equity cooperative exchange the national association of wheat growers the national council of farmer cooperatives among others participants said
the us economy will inevitably make the adjustment necessary to move from a deficit to a surplus trade balance in order to service our growing foreign debt he told a conference attended by the six members of the association of southeast asian nations and their leading western friends
the analyst also doubted that bank of new york could afford to retain its original offer
transactions in rubber between the start of trading in april 1985 and december 1986 totalled 9595 tonnes worth 69 mln dlrs fob plus 1843 mln rupiah for rubber delivered locally the latest exchange report said
an appendix on port loading costs showed it cost between 26500 and 34700 us dlrs to load a 50000 tonne vessel at various australian ports compared with 21200 dlrs at houston and 16300 at port cartier quebec for a 60000 tonner
michigan general is offering to exchange 500 dlrs of increasing rate senior subordinated notes due march 1 1992 200 dlrs of non interest bearing delayed convertible senior subordinated notes due march 1 1997 and 2 shares of two dlr delayed convertible preferred stock with a liquidation value of 25 dlrs a share for each 1000 dlrs of the debentures
following completion oil term holdings ltd a new company controlled by nova will hold a 43 pct stake in husky
the two ministers were speaking at a news conference after signing an agreement for joint oil exploration and exploitation of the jungle border zone between the two nations
this cut producer stocks and contributed to a closer supply demand balance within the us market for many years depressed by surplus production and a regular supplier to the world market
dainippon ink bought sun chemicals graphic arts group for 550 mln dlrs late last year after an earlier unsolicited bid for the whole company
shr 37 cts vs 42 cts net 266 mln vs 300 mln sales 8054 mln vs 6906 mln avg shrs 706 mln vs 710 mln nine mths shr 123 dlrs vs 123 dlrs net 868 mln vs 885 mln sales 230 billion vs 201 billion avg shrs 703 mln vs 722 mln
joe gold said the golden patricia vein has not been tested at depth or along strike to the east and west and exploration is continuing on the golden patricia property and the adjacent wholly owned muskeg lake property
the company which is already listed on the london zurich basle and geneva stock exchanges as well as amsterdam aims to be quoted in frankfurt and dusseldorf in may van driel said
in canada the rig count was up by two to 183 against 324 one year ago
bayer said that world group operating profit declined slightly in 1986 against 1985 but non operating results showed a further improvement
taiwans surplus with the us rose to 136 billion dlrs last year from 102 billion in 1985 government figures show
the meeting was attended by representatives from brazil mexico guatemala el salvador honduras costa rica and nicaragua
the exchange offer faces numerous obstacles including the tender of at least 90 pct of the debentures and additional financing from lenders s and p noted
gordex minerals locates gold deposits
an international floor price adopted by all or most industrial countries would clearly be a much more effective measure and would be much less distortive for the us than if we imposed it alone lichtblau said
mediq inc said its mediq diagnostic imaging partners i lp has signed a letter of intent to acquire substantially all the assets of american medical international incs ami diagnostic services inc subsidiary for undisclosed terms
however with this bill rate pertaining to three months money banking sources said the market could not take the cut as a guide to the banks intentions on short term rates
the debentures are convertible into the companys common stock at 14375 dlrs per share representing a premium of 25 pct over the stock price when terms on the debt were set
thats bad for competition and bad for the consumer he said
businessmen have identified political instability over the last 13 years as one of the biggest obstacles to lasting economic progress
schlumberger ltd most likely has an alternate buyer lined up for its fairchild semiconductor unit wall street analysts said
however he said banks may be reluctant to lift the prime because that would dampen already fairly weak business loan demand and because some are not sure the fed will maintain recent upward pressure on money market interest rates
nonfarm payrolls expanded by 337000 jobs in february the average workweek lengthened by 06 pct and hourly wages rose by four cts he noted in a report
unicorp uac lincoln in definitve pact
if iran cannot use the hormuz strait no other country can either and this would be to everyones harm the radio quoted him as saying
fees consist of a 1 1 2 pct selling concession and a one pct combined management and underwriting fee
stoltenberg said that despite progress in some areas the debt problems of a whole range of countries had recently become more difficult
the company said to improve its working capital position it plans to reduce operating expenses by decreasing hours of operation and its workforce and selling some assets
officials of the foreign ministry said japan had maintained good relations with both iran and iraq which have been at war since september 1980
the company said it paid kodak 1050 dlrs a share or 24 mln dlrs
unit distribution one dlr vs 175 dlrs prior pay june one record may one note prior distribution declared in april 1986
he said some progress had been made
it said the boats were intercepted in the khur abdullah waterway which separates kuwait and iraqs faw peninsula at the head of the gulf captured by iran last year
solitron devices inc sod 4th qtr net
teck to increase stake in trilogy resource
board member herbert mittendorf told a news conference that brazils example was unlikely to be followed by other latin american countries
fiscal revenue from oil sales which was estimated at 66 billion bolivares for 1986 totalled 435 billion a drop of 34 pct which hernandez said had a very serious impact on venezuela pdvsas export volume averaged 1508 mln barrels a day of which 658000 bpd were crude oil and 850000 bpd refined products
the facility was subsequently increased to 40 mln dlrs
secondary and tertiary oil production expensive methods of production that inject water or gas into the ground to recover oil should also be exempted from the severance tax nugent said
the timetable on lower interest rates is being pushed back all the while
the analysts told that at a new york briefing chrysler treasurer fred zuckerman outlined his companys agreement with renault to assume amcs debt as well as 332 mln dlrs in unfunded pension liabilities though the latter is not included valuing the transaction
my fear is that if we get into a recession we are in deep soup and there is no question about it he said
japan long term prime seen cut to record low soon
uk money market given 478 mln stg early help
although many european banks were opposed to the use of interest capitalisation this was an alternative which has to be brought in sarrazin said
the stock transfer tax would be a particularly unfortunate approach to take the treasury secretary said
illustrating the point the official said a south korean firm recently agreed to sell a drilling platform worth 40 mln dlrs to the state run oil and natural gas commission
a certain optimism has appeared in the economy to the effect that things are no longer impossible and morocco can get out of its problems we are aiming for 100 mln special drawing rights and if we can get more it will be put to good use he told a news conference
companies also rated their export possibilities higher
such a method would make canadian resource industries vulnerable to similar penalties like a 15 pct export tax imposed last january on shipments of canadian softwood lumber to the us zimmerman added
soviet economist sees few gains in us trade
atco ltd said its atco development unit agreed to sell the canadian utilities center in edmonton alberta and the canadian western center in calgary
shr profit 26 cts vs loss two cts net profit 6194000 vs loss 170000 revs 1000 mln vs 7854000 avg shrs 107 mln vs 8787977 year shr profit two cts vs loss 17 cts net profit 7169000 vs loss 1461000 revs 4214 mln vs 511 mln avg shrs 9604474 vs 8807709
they said this index continued to show the current recession is shallow and is more likely to involve a slowing in real growth than an absolute fall in economic activity
jude medical stjm votes dividend rights
the potential for environmental damage is being downplayed at this time despite the volume of oil that runs through this line
the international telecommunications union which regulates communications worldwide decided at the end of a five week conference to allow mobile phone systems to be linked with satellites telecommunications officials said
from today the price of meat will rise by an average 18 pct and that of beer and spirits by 10 pct mti said
the bill passed 305 102 winning a necessary two thirds of those voting despite a last minute revolt by an alliance of liberal democrats and conservative republicans who sought to defeat it as a signal that a growing number of legislators oppose president reagans policies in the region
lands end inc leys votes initial payout
glickman said rules for the reconstitution of farms and tightening up of the person definition for annual payment limitations is another option and could save 100 200 mln dlrs
ef hutton will provide 279 mln dlrs of its funds to complete the transaction
we believe these must be a matter for the commercial judgment of the oil companies she told the arabic language daily al sharq al awsat in an interview coinciding with a visit to london by king fahd of saudi arabia
ccc accepts export bonus bid on barley to israel
us to ask japan to drop beef restrictions
victoria banckshares inc victo 3rd qtr net
robert white canadas deputy chief of delegation replied the law was in line with gatt rules and was for conservations reasons
but netbacks for crude oil refined in singapore fell sharply down 15 cts to as much as 68 cts a barrel as ample distillate supplies weighed on petroleum product prices
the letter was sent today to us secretary of state george schultz treasury secretary james baker commerce secretary malcolm baldrige and us trade representative clayton yeutter
the company said no damages were set in the courts ruling
harleysville group hgic seeks to acquire firm
banking sources said syndication for the increase was proceeding very well so far although the syndication would not necessarily be confined to banks participating in the original group
its part of a trend towards growing capital participation by japanese insurance firms in foreign financial institutions said simon smithson an analyst with kleinwort benson international inc in tokyo
us mine production of gold rose to 244900 troy ounces in december from 244749 ounces in november the us interior departments bureau of mines said
the agreement to be implemented in two stages by july 1988 would ban tied aid credit among industrialized countries and place limits on permitted aid by developing countries
cattani jr
the report authored by retired governor gerald bouey also noted advances to canadian banks fell to under one billion dlrs at the end of the year from more than four billion dlrs in january 1986 and that the countrys economy performed unevenly while inflation remained a major concern
solomon described the structural core as about one half of the current 150 billion dlr annual deficit
swiss industrial output rises in fourth qquarter
bank of nova scotia issues new zealand dlr bond
american express will also grant nippon life a five year warrant to purchase one mln american express common shares at 100 dlrs per share
bsi says expects another good year in 1987
the obvious suspicion is that there has been some kind of fraud or theft said ralph shulansky senior vice president of ames
in a discussion document prepared for todays summit meeting of ec leaders belgium proposed the so called stabilising mechanism be the subject of further study and consultation with the communitys main trading partners the proposal for a tax of as much as 330 ecus per tonne on both imported and domestically produced vegetable and marine oils and fats has attracted a storm of international criticism
it said about 50 mln pounds of poy production will be shut down as a result of its exit from the business
in the proposal theta said it was prepared to discuss all aspects of the offer including price structure and form of consideration and would be prepared to negotiate a transaction in which shareholders would receive a value in excess of 150 dlrs per share
ameritrust amtr proposes 2 for 1 stock split
dutch seasonally adjusted unemployment totalled 690600 people in february unchanged from january but down from 732700 in february 1986 a social affairs ministry spokesman said
the cattle are for delivery during march 9 september 30 1987
valley resources inc said its board declared a three for two stock split and raised the quarterly cash dividend on the pre split shares to 42 cts from 38 cts
adobe resources corp and high plains oil corp said they reached an agreement in principle under which high plains will be merged into a unit of adobe
edf to launch euro cp program monday
1985 results restated
results also exclude income from discontinued operations of 3063000 dlrs in 1987 nine mths of 503000 dlrs or two cts in 1986 3rd qtr and 5804000 dlrs or 21 cts in 1986 nine mths
spains state refiner empresa nacional de petroleo sa emp plans to build its second unit for production of methyl tertiary butyl ether mtbe a gasoline additive replacing lead company sources said
the sanctions were levied on certain japanese television sets personal computers and hand held power tools
it appears reasonable progress is being made in the talks mulroney said
the plant should be completed in 1989 and will employ about 200 people
the transaction is expected to close on april 1 1987 the company said
taft through theta co sent and letter to tafts board of directors stating he was committed to purchasing the broadcasting company and was ready to discuss all aspects of the purchase
the 1985 farm bill provides authority for the agriculture secretary to implement a marketing loan for soybeans but usda so far has resisted pressure to use the authority
pinnacle incorporated in 1985 generates about 60 mln dlrs in closed mortgage loans annually
awfs state area forecasts in mln hectares with 1986 87 production in mln tonnes are as follows crop forecasts were not given for the new wheat year area crop 1987 88 1986 87 1986 87 queensland 082 082 095 nsw 307 317 440 victoria 153 163 325 saustralia 145 164 230 waustralia 353 446 560
a quickly growing texas based distributor of electronics products offered 240 mln dlrs for crazy eddie inc crzy the leading new york city electronics retailer or one dlr per share more than its founder has bid
western kentucky is a gas distribution company which serves about 143000 customers in 108 towns and communities in kentucky
qtly div 125 cts vs six cts pay march 31 record march 24 note co also declares 125 ct qtly div on special shares issued in december 1986 with same pay and record dates
the bank of japan here declined comment
a spokesman for the rio de janeiro port said the order to send marines to take over the ports was given by navy minister henrique saboya on grounds that ports are areas of national security
the series totaled 500 mln dlrs and was oversubscribed with nearly two billion dlrs in bids
in guilder terms however profits at the pre tax level dropped three pct to 369 billion from 381 billion
the agreement signed last saturday in hong kong with a syndicate of eight indian and foreign banks including state bank of india london bankers trust co hong kong and grindlays bank plc london fixes the draw down period at 68 months the official said
cereal crops in the southwest were 90 pct germinated with some fields already in the subsequent tillering stage it said
japanese companies are not fully confident in managing a large us or european corporation one banker said
issues doubled to more than 150 in 1986 from the previous year boosting euroyen offerings to more than nine pct of the total eurobond market koichi kimura managing director of daiwa securities co ltd said recently
rlr financial rlrf wont be delisted
it did not specify in its sec filing which issues selling its ami stake or joining with others in a takeover try were discussed with which group
it said the new shares which are convertible into common stock on a share for share basis at the option of the holders at any time represent in the aggregate 25 pct of the equity of hawkeye on a fully diluted basis
in a separate statement the federal statistics office said the rise in the overall number of people in employment had slowed in february
the specter of argentina emulating brazil and suspending interest payments haunted policymakers and bankers alike who have long feared the emergence of a debtors cartel
lawson confirmed that over the medium and longer term the governments objective is zero inflation he said the governments intention of its psbr constant at 10 pct of gdp is the modern equivalent of the balanced budget doctrine he added that to allow the debt gdp ratio to remain constant on anything other than zero inflation basis is simply a recipe for accelerating inflation
the executives decision to go to gatt follows a complaint to it by the dutch company akzo akzoas whose aramid synthetic fibres have been banned from the us market because of charges by the us firm dupont that the fibres violate the american companys patents
the company said the credit facility is extendable under certain circumstances with annual principal payments of five mln dlrs
step saver data systems inc said bergen richards corp has exercised a warrant to buy 450000 step saver shares at two dlrs each
the bills proponents have argued canada has simply replaced shipments of live hogs with fresh pork
yulo said despite next years increased production target some philippine mills were expected to shut down
he said there is a possibility the company will sell the smelter which currently employs 320 people before its scheduled closing
the federal reserve is expected to enter the us government securities market to add temporary reserves indirectly via 15 billion dlrs or more of customer repurchase agreements economists said
uk intervention board details ec sugar sales
iran is in the drivers seat in an absolute sense as the cycle of attack and retaliation continues said fred axelgard a gulf war expert with the private center for strategic and international studies csis its like a greek tragedy said retired adm
shr 68 cts vs 61 cts shr diluted 66 cts vs 60 cts net 186 mln vs 165 mln avg shrs 275 mln vs 266 mln nine mths shr 140 dlrs vs 176 dlrs shr diluted 138 dlrs vs 171 dlrs net 389 mln vs 469 mln avg shrs 274 mln vs 258 mln note share adjusted for july 1987 10 pct stock dividend
the acquisition is not likely to substantially lessen competition or to be inconsistent with the public interest the dot said in a statement
soyabean oil imports were 32000 48200 sunflower oil 61600 92800 rape oil 82900 94900 and groundnut oil 9300 12200 exports of soybean oil were 325900 338800 sun oil 172100 189800 rape oil 114300 103400 and groundnut oil 7000 10400 animal fat imports rose to 371700 from 345800 tonnes and exports to 124100 tonnes from 113000
it is not callable unless the share price exceeds the conversion price by 150 pct
it was one of the many options we offered the banks in order to win an attractive pricing he said
the restructuring was announced in december after carter hawley rejected a buy out offer by retail partners
an officer on daiwas corporate syndicate desk said he believed this was rockwells first debt offering since 1984 when the company tapped the euromarkets
bishop graphics inc said it completed the sale of its newport beach art supply center to standard brands paint cos sbp art store unit
earlier the bank holding company said brazils moritorium may force it to increase non performing loans by 380 mln dlrs and reduce pretax and net income by 10 mln dlrs in the first quarter and 35 mln dlrs for the full year
csr officials have made it clear that they see redland taking the second option resulting in the two companies running monier as a joint venture
dealers here will also want to see how acceptable foreign metal will be on the new market and what sort of demand develops for forward deliveries
fekete said hungary would continue to restructure its debt profile by prepaying high interest shorter and medium term loans with cheaper long term money for which it was looking more and more to the fixed interest rate bond market where he considered rates to be low
the record 49 billion dlrs rise in uk reserves in may to a total 347 billion has lifted hopes for a further cut in bank base lending rates after the june 11 general election market analysts said
the breakdown was cotton 4000 27900 sunflower 929847 816727 linseed 113827 132954 groundnutseed 26248 25508 soybean 603335 448344 tung 8402 10633 olive 2234 3465 maize 6058 3677 rapeseed nil nil grape nil nil the board added
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
he said a major government inquiry into the disaster will be held all similar ferries sailing from britain will be inspected and owners will be asked to fit lights to give warning if bow doors are not properly closed
some believe the fed is adding fewer reserves than are needed to keep upward pressure on rates and so help the dollar
shr nine cts vs 17 cts net 275000 vs 490000 rev 24 mln vs four mln six months shr 29 cts vs 31 cts net 885000 vs 884000 rev 61 mln vs 71 mln note companys full name is herley microwave systems inc
the lawsuit also alleges that harcourt failed to disclose that one consequence of the payment of the dividend which it terms illegal will be that shareholders will be liable to repay it
however 1987 first quarter production from its mclaughlin reserve will be about 10 pct lower than last years 45400 ounces due to start up production problems
after a disastrous first quarter sand hopes to break even in the current fiscal year shattner said
shr profit 226 dlrs vs loss 81 cts net profit 9785000 vs loss 3422000 revs 260 mln vs 189 mln avg shrs 4316000 vs 4207000 1st half shr profit 275 dlrs vs loss 107 dlrs net profit 119 mln vs loss 4486000 revs 390 mln vs 372 mln avg shrs 4318000 vs 4181000 note current year net both periods includes gain 9500000 dlrs from sale of orange co of florida subsidiary to american agrnomics corp agr net includes pretax real estate disposition loss 920000 dlrs vs gain 52000 dlrs in quarter and loss 863000 dlrs vs gain 117000 dlrs in half
the sources said only 80 personnel can be housed in remaining accomodations the sources said
mcdonalds launches 75 mln aus dlr eurobond
in a filing with the securities and exchange commission for a secondary offering de laurentiis said embassy will offer its entire stake in the company of 964936 shares of common stock in the public sale
smoothed but non seasonally adjusted exports were 924 mln dlrs unchanged from january against 843 mln in february 1986
turnover fell to 953 mln from 970 mln
shr 51 cts vs not given net 6089000 vs 7310000 note company went public in november 1986
if the trip is a major disaster it would seem to put the final nail in his coffin he said
the kharg terminal attacked about 135 times since august 1985 was last raided in january
its alex
current dome shareholders would own 20 pct of the new subsidiary
national guardian corp said it has acquired a number of security services companies recently with aggregate revenues of about 3500000 dlrs for an aggregate cost of about 2700000 dlrs
qtly div 51 cts vs 51 cts pay april 9 record march 25 santa anita realty enterprises inc
shr 49 cts vs 39 cts net 886937 vs 892323 revs 259 mln vs 237 mln year shr 178 dlr vs 134 dlr net 3254301 vs 2472676 revs 1006 mln vs 874 mln note 1986 4th qtr and year net includes income loss of metcap subsidiary of 14881 dlrs and 311848 dlrs or 17 cts per share respectively
yeutter seeks stronger taiwan skorea currencies
uk money market receives 205 mln stg late help
its an incentive to use the card and it potentially builds traffic for the carrier said one analyst who asked not to be named
in the previous 10 years vw had received 80 pct of audis earnings as a dividend
unitel video shareholder proposes possible sale or liquidation of company
campbell resources inc 2nd qtr shr profit three cts vs loss 10 cts
the sec under shad also stressed prosecution of insider trading violations over the corporate wrongdoing cases that topped the agencys enforcement agenda during the administration of president jimmy carter a democrat
it is conceivable that under a couple of these plans we might use the midamerica exchange temporarily for some cbt markets sladoje said
mannesmann buys indirect majority stake in sachs
japan warns of anti us sentiment in trade row
japanese compound feed output falls in january
major increases were for belgium south korea mexico and italy it said
usda general sales manager melvin sims told the senate appropriations agriculture subcommittee his department had billed dot 12 mln dlrs and that interest on that amount and an additional charge would begin accruing april 1
if world protein meal demand stagnates thus limiting the crush of soybeans the need for serious supply rationing in the edible oils sector could develop he said
the company also agreed to acquire a 19 pct stake in novo astro a private company and a 16 pct interest in teles pires mining increasing the tvxs ownership to 51 pct
bbc ag brown boveri und cie bbczz 1986 year
enquiries antwerp 1 3 ports greece 40000 mt bagged sugar indications 750 750 in shipments of 10000 15000 tonnes spread from may to july a c unnamed charterer
adb president babacar ndiaye released a 1987 economic report on africa prepared by the adb and the un economic commission for africa eca saying progress was being made toward substantial increases in the banks capital resources
uk base rates have been cut twice by half a point since the paris agreement once on march 11 and again yesterday when foreign demand for sterling surged in reaction to a sharp cut in 1987 government borrowing targets contained in the budget
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 302000 head versus 293000 week ago and 309000 a year ago
price per bushel is in us dollars
the acreage planted to sugarbeets will receive more than the usual amount of attention this year because of mounting concern that continued increases in domestic sugar production threaten the us sugar program industry sources said
the minister said the affected areas include eight provinces in the northeast two in eastern thailand and three rubber growing provinces in the south near the malaysian border
leader said the stock is convertible into a petrosurance common
coupon cut on bank of tokyo swiss franc issue
reagan said he ordered the strike on the first platform by four us destroyers which fired about 1000 five inch shells at the rostam oil rig 120 miles east of bahrain in the central gulf
for the full year 1986 the merchandise trade deficit was a record 1477 billion dlrs up from 1244 billion dlrs in 1985 the department said
related companies profit 31 mln vs 14 mln
prices for californias marker grade line 63 blend have slumped about 20 pct in the last month to 14 dlrs from a high of about 17 dlrs
ecolab said the offer is conditioned on receipt of at least 5325000 shares
the kerna four appraisal well flowed gas at 235038 cubic meters a day with four kiloliters of condensate through a 13mm surface choke over an interval of 2374 to 2399 meters
in the third quarter gnp rose 06 pct
while the disruptive effects of the production line changes had occurred in line with expectations anchor glass said first quarter operating results were helped by lower than anticipated operating costs and improved margins on sales as a result of a more favorable product mix
redstone said exclusive contracts with pay television networks are the emerging trend
pre interest profit 1321 mln vs 1246 mln
the feasibility study anticipated gold production of 49600 ounces a year at a cost of 129 canadian dlrs a short ton they said
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
shr 11 cts vs nine cts net 677498 vs 461485 revs 6271010 vs 5135729 year shr 81 cts vs 20 cts net 4406065 vs 973967 revs 265 mln vs 141 mln avg shrs 5457339 vs 4978965
affiliated publications inc afp sets dividend
first federal said subject to certain adjustments including first federals earnings prior to the close of the deal each share of its common stock shall not be converted into less than 29 shares or more than 35 shares of bankeast common
defence secretary caspar weinberger has ordered the us navy to increase its presence near the gulf in an effort to fulfil president reagans pledge to keep oil flowing to europe and japan the new york times reported
she said canada us bilateral trade negotiations which must be concluded at least in draft form by october are progressing well
and he said new printing technologies make new editions a profitable business
the newspaper said harrington may propose restoring the depletion allowance to major producers
the toshiba spokesman said the sale of such equipment was not comparable to cable and wireless efforts to take a stake in the new japanese telecommunications firm
the years secondary rains usually occur between april and june although it is not possible at this stage to forecast whether they will arrive as usual
south africa will disclose later today new arrangements for its repayment of foreign debt the finance ministry said
coastals more than 800 gasoline retail outlets were operated profitably during 1986 and are expected to continue to do so the company said
under the accord clinched on thursday in paris 100 pct of the principal and 85 pct of the interest owed between april 1 1986 and march 31 1988 is being rescheduled
in a statement burke said he plans to announce a major change in the companys organization in the next few days
industry commissioner karl heinz narjes has proposed the ending of the quota system by december 1988
one provision repeals the reserve method of providing for bad debts for banks with over 500 mln dlrs in assets and requires that tax loan loss reserves taken in the past be restored to current earnings status it said
de kock 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 he said
the conversion premium will be five to 10 pct and the price will be fixed on or before march 18
the company said the loss followed four quarters of modest profits
kaufman and broad inc kb 1st qtr feb 28 net
months before the report was issued us and ec business leaders met their japanese colleagues to discuss the trade problem
petro canada canadas state owned oil company said it will drill two delineation wells this summer at the terra nova oil field offshore newfoundland
the company paid a quarterly dividend of one dlr a share earlier this month
but these short term difficulties should not be allowed to deflect japan from the fundamental reforms necessary he said
uptrend remains intact for debt futures
they said 25000 tonnes to be shipped from bordeaux were sold at 1603 francs per tonne fob 15000 tonnes from rouen at 1596 francs fob and 15000 tonnes from sete at 1607 francs fob
jwt said it asked the court to enjoin the defendants from acquiring any further jwt stock make them return all confidential and proprietary information and to disgorge all profits or other gains
it also said that in is suit cxr asked for seven mln dlrs in damages along with an unspecified punitive award
net result breakeven no profit or loss vs breakeven operating loss 836 mln francs vs 654 mln net turnover 1270 billion francs vs 2434 billion sales of petroleum products 97 mln tonnes vs 106 mln note company said in a statement 1986 results were affected by the sharp fall in crude oil prices
general electric ge to sell datel unit
the trade ministry official said there was no sign of a palm oil shortage in indonesia
for the stock north american coal will receive about 152 mln dlrs 52 mln of which will be paid at closing april 10 and the rest in installments the company said
cash in circulation in west germany rose by 28 billion marks in the last week of february to 1215 billion a gain of 83 pct over the same month last year the bundesbank said
a country like brazil cannot afford to be permanently closed down one exporter said
one point of agreement feldstein said was that debtor countries would need additional credit in the coming years if they are to enjoy satisfactory growth
sour grades in the us gulf showed an increase of 33 cts a barrel for alaska north slope up 17 pct
us non farm payroll employment rose 337000 in february twice what the financial markets expected
the first 23 members have been elected to the joint traded options facility of the london commodity exchange lce and the international petroleum exchange ipe the exchanges said in a statement
tanjug said the agreement was reached after hearing the imfs report on the state of yugoslav economy and a long and lively debate between creditors and members of the yugoslav delegation it said the talks with commercial bank creditors on realisation of the second phase of yugoslavias multi year debt refinancing will follow in april this year
the marketing year for corn began september 1
david haggard american soybean association asa president said usda must make changes in the soybean program
and that includes gains from the sale of mhis stake in mitsubishi motors corp mimtt for 49 billion yen
new york business loans fall 222 mln dlrs
alc communications corp said that because of strong traffic growth and cost reductions it anticipates reporting a profit for the first quarter of 1987 versus a loss of 14 mln dlrs or 15 cts a share for the first quarter of 1986
if oil prices should rise to an average of 20 dlrs a barrel he said arco could record earnings of 650 dlrs a share
indonesian commodity exchange may expand
vak told a news conference that last januarys cut in lending rates for commercial customers and for all depositors by a quarter point had been insufficient
cooperation between arab states and europe was advantageous for both sides al chalabi said adding he hoped cooperation would ultimately lead to full fledged euro arab dialogue
the international monetary fund said it has loaned uganda 921 mln dlrs to aid in economic recovery
they feedlot operators are marketing more cattle than they had intended for the first quarter which is a bullish development levitt said
fees consist of 5 8 pct for management and underwriting including a 20 basis point praecipuum and 1 1 4 pct for selling
dutch social affairs minister louw de graaf announced he is withdrawing the annual 10 mln guilder labour subsidy for rotterdams strike hit general cargo sector as from july 1
west german fishmeal imports highest in 15 years
oper shr 102 dlrs vs 82 cts oper net 174 mln vs 149 mln revs 27 billion vs 24 billion nine mths oper shr 254 dlrs vs 264 dlrs oper net 438 mln vs 492 mln revs 82 billion vs 74 billion note 1987 3rd qtr and nine mths includes after tax 82 mln dlr or 49 cts a share gain for increase in equity of union texas petroleum holdings inc for initial public offering
in february 25 pct thought their export books were below normal and 50 pct believed them to be about normal
big banks say it is unfair that small creditors continue to receive interest on old debt even if they do not contribute to new loans
tesco extends hillards offer
frances current account payments surplus slipped to a provisional 300 mln francs seasonally adjusted in january from a downward revised surplus of 38 billion in december the finance ministry said
dtd enterprises inc said it filed an 8 k report indicating that eagleslair development corp had assumed control of the company under a reorganization plan signed last month
ccl industries inc 4th qtr net
tw services inc tw 3rd qtr net
mlx corp said a subsidiary has tentatively agreed to acquire a sintered friction materials business in milan italy from a unit of abex corp for undisclosed terms
total trade with the soviet union involving swaps of agricultural produce and textiles for soviet arms and crude oil is estimated at 304 billion dlrs in fiscal 1986 87
ici sells stake in lister and co
he welcomed the recent moves by citicorp and chase manhattan to increase sharply their third world debt provisions
it estimated the 1985 86 crop at 808 mln vs 808 mln last month
japanese trade figures are seriously challenging the entrenched view of policy makers of the group of seven industrialised nations that relative currency rates are the key to smoothing world trade problems
the duty free import of cotton yarn has been allowed to bring down prices and help the local ancillary industries compete effectively in the world market he said
quarter net includes gains from sale of aircraft of two mln dlrs vs 6200000 dlrs
however there has been considerable resistance to the package partly because of some of the clauses it contains and partly because many small us regional banks do not want to increase their exposure to any latin american countries
a survey of planting intentions showed that while so far european community ec growers plan unchanged to lower areas increases are expected in some eastern european nations
algeria will tender on april 3 for 20000 tonnes of optional origin sunflowerseed oil rapeseed oil for apr may loading traders said
bundesbank buys 117 mln dlrs as dollar fixed lower at 17740 marks
refined product sales totalled eight mln metric tonnes of which 67 pct was exported
the adjusted producers shipment index base 1980 for january was revised upward to 1177 from a preliminary 1174 the index was down 07 pct from december when it rose three pct from a month earlier
furthermore usda said the current sugar program gives overseas manufacturers of sugar containing products a competitive advantage
the investment banker said its variable money market certificates of deposit are structured as traditional floating rate cds with the rate based on the aa commercial paper composite rate of the federal reserve bank of new york
sheet was firm as in previous weeks with rss1 averaging 2205 rupees against 22 previously
the bank of england said it had given the money market a further 152 mln stg assistance in the afternoon session
however he said there would likely be changes in the market access proposal from the plan which cleared the house last year
the issue was increased from an initial offering of 40 mln dlrs
the first five years of the loan will have a fixed interest rate slightly above the long term prime rate of the japanese money market with an adjustment in the second five years in accordance with prevailing market rates
victory markets vmkt sells debentures
uk money market given further two mln stg help
1986 figures exclude miles bayvet animal health business sold jan
eurosterling bonds saw early gains of up to half a point
growth in gdp over the past decade has averaged about 15 pct while the unemployment rate among blacks has spiralled to over 30 pct
it said payment would have been on april 15 1987
he urged the indonesian government to do more to help the countrys coffee traders through the ico negotiations
qtrly div 17 cts vs 17 cts prior pay april 13 record march 25
he said detailed arrangements for their issue would be finalised after talks between the federal authorities and the western australian government owner of the perth mint
in the year to end february superdrug reported pretax profits of 1226 mln after 1036 mln previously on turnover that rose to 2029 mln from 1643 mln
the general partners offer is subject to receipt of financing a majority of gencorp shares and other conditions
shr 140 dlrs vs 138 dlrs net 1928800 vs 1485600 sales 352 mln vs 335 mln avg shrs 1350800 vs one mln
very stormy weather is likely in the north sea through saturday disrupting shipping in the region private forecaster accu weather inc said
note full name is anglo american industrial corp ltd
i cant take the burden only to the banks he was not sure how long it would take to reach a solution
its extremely strong he said
based on tmocs issued capital of 6208 mln shares the agl offer values the entire company at 2499 mln shares
juan lechin oquendo the veteran secretary general of the bolivian labour organization cob told reporters i am joining the fast to abide with our call for a hunger strike lechin 83 became one of 12 cob leaders to join a hunger strike to protest against the austerity programme of the government of president victor paz estenssoro
us appears to tolerate further dlr decline
the company said its tender offer for all common and preference shares expired last night
the company said mainly this represented the premium the group had paid for the know how of various high tech firms it had taken over
conchemco inc ckc sets quarterly
but the two architects of the third world debt strategy gave no indications they would abandon their plan to promote economic growth and reform
usda also said the 0 92 provisions in the bill were narrower than the administrations proposal to offer the option to all major commodities and would produce insignificant savings
honduras seeks pl480 vessels for tallow delivery
now the face value of the bond will be added to the value of the property
bicc pre tax profits rose to 101 mln stg in 1986 from 92 mln in 1985 with turnover rising from 211 billion stg in 1985 to 214 billion stg in 1986
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
these results also reflect the seasonally low sales pattern of automotive replacement parts in that period
there is considerable divergence with the banks
it said the business had sales of over 50 mln dlrs in 1986
expenditure was put at 679 billion pounds
the remaining 50 pct of winter wheat crops do not have snow cover making winterkill possible on each of the next two nights
iraq has an official first half quota of 1466 mln bpd rising to 154 mln in the second half but has refused to adhere to it and has recently been producing around two mln barrels per day exporting it through pipelines to saudi arabia and turkey
trading in the companys stock was halted pending an announcement
while some analysts estimated the company was worth in the mid 30s at least one said it would be worth 38 to 42 dlrs
but quotas must be negotiated sometime he said
danish central bank cuts overnight money market interest rate to 105 pct from 11 pct official
oper shr eight cts vs two cts oper net 119000 vs 32000 sales 120 mn vs 113 mln note current qtr figures exclude loss from discontinued operations of 30000 dlrs or two cts per share vs loss of 54000 dlrs or four cts per share
westpac banking issues 50 mln australian dlr bond
after brazil imposed a moratorium on interest payments on 68 billion dlrs worth of debt in february brazilian finance minister dilson funaro sought to involve foreign governments in rescheduling talks with banks
id be buying up to 90 toufexis said last week when the stock rose sharply to near that level
the agreement calls for drilling of 10 to 12 offshore wells per year primarily in the gulf of mexico area off the texas and louisiana coasts and 30 to 40 onshore texas and louisiana gulf coast wells
the borg chemical business is great said rose adding its only us competitors are monsanto co mct and dow chemical co dow
atlantic richfield rose 1 3 4 to 77
aerospace revenues were sharply higher in this years first quarter from a year ago mainly because of the inclusion of rcas aerospace and defense business the company said
the koether group said it bought the stock for 10 mln dlrs for capital appreciation and may buy more
if we cannot get that then no amount of money can compensate us greenfield also said samjens could sell its holdings in burlington for 95 mln dlrs
the latest crises created an historic opportunity to solve the disputes between the two countries the foreign ministry statement said
the february rpi was set at 1004 base january 1987
529 mln dividend 105 francs per 250 francs nominal share vs
that subsidiary now holds the groups 80 pct stake in cable and wireless hong kong and about 22 pct of hk telephone
painewebber inc will underwrite the offering
marine corp mcoro 3rd qtr net
the company earlier reported 46 pct higher 1986 net profits at 178 billion hk dlrs from a year ago
fed sets six day system repurchases
he said squibb was the good partner because squibb has a major joint venture in japan and has sales capabilities of its own in that market
shinji fukukawa vice minister of the international trade and industry ministry said in a statement japan would consider measures under the general agreement on tariffs and trade and other actions if the united states imposes 100 pct tariffs on some japanese exports as planned next week
william reynolds told shareholders he would be presenting an alternative to the 100 dlrs a share takeover offer within a week
the library has over 2000 theatrical motion pictures
buffton buff to post investigation charge
poehl says chances for exchange rate stability are good
for the qtr and yr 1985 loss consisted of a pretax loss of 239 mln and 1023 mln which included a writedown of inventory restructuring charges and loss on the sale of a division amounting to 130 mln and 610 mln and a tax gain of 3036000 and 285 mln
the weakness of the local currency pegged at 780 to one us dollar and low fuel prices moved further in the companys favour from the assumptions made in the prospectus at the time of the flotation james capel far east ltd said
the bank said major increases in foreign reserves were recorded in january february and the first half of march 1987
mwape said in a speech to businessmen in the southern town of livingstone yesterday that the imfs approach had caused social and political unrest across the continent
shr 22 cts vs 16 cts net 2460000 vs 1730000 sales 370 mln vs 273 mln per share figures adjusted for two for one stock split of february 1987
american express said options under study range from expanding shearsons capacity to meet international competition to broadening its access to capital
amstutz said while certificates encourage more loan entries they also encourage heavier loan redemptions rather than forfeitures
all the institutes predicted only a slight decline in unemployment
while the automobile industry remained unchanged from previously boosted levels consumer goods production grew and was expected to accelerate except in the area of domestic appliances
the industry has curtailed production due to oversupply nearly every year since 1977 78 under cartel or transport ministry guidelines
terms of the acquisition were not disclosed
southmark corp said it acquired 28 long term care facilities containing for approximately 70 mln dlrs in cash
citicorp cci sec filing not tied to debt talks
sorghum production estimates remained steady at 32 to 35 mln tonnes down 167 to 22 pct from the 41 to 42 mln tonnes produced in the last harvest
opec within output ceiling subroto says
the new company barclays de zoete wedd nederland nv will focus on trading in both dutch and international equities and will develop a full range of investment banking services
theyre not going to slow up theyre just going to buy smaller pieces because of the political risk said barclays de zoetes may
in particular mulford said banks and debtor nations will increasingly move toward repricing retiming or rescheduling agreements as an alternative to new loans
dutch port and transport union fnv has called off the strikes against planned redundancies that have hit rotterdam ports general cargo sector for the past eight weeks strike leader paul rosenmuller told a mass meeting
an ec decision to impose tariffs on gulf petrochemical exports over a set quota has strained trade relations between the two sides
non callable for three years and non refundable for five the issue is rated b 2 by moodys investors service inc and b minus by standard and poors corp
duriron duri completes valtek valt purchase
ample supplies limit us strikes oil price impact
treasury secretary james baker said the united states and other nations were willing to cooperate to stabilize foreign exchange rates at the levels that existed at the time of an international agreement last month
bsn bsn sees higher 1987 net
miti means business
a group led by rosewood financial inc has also disclosed ownership of 62 pct of comdatas 190 mln shares outstanding and said it might seek to increase its interest to over 15 pct
six killed in south african mine
brazilian consumer prices rose 139 pct in february compared with januarys record rate of 168 pct the brazilian geography and statistics institute ibge said in a statement
the main topic will be reform of what many producing countries perceive as the icos unfair distribution of export quotas fernandez said
the fundamental problem the size of the us federal budget deficit could be remedied only by cutting government spending or encouraging personal savings to finance the debt it said
for the past two years the government has struggled with an economic reality that demands measures beyond those which it sees as politically practicable it said
hadson corp said it completed the acquisition of 85 pct of the seaxe energy corps seaxo common stock for 182415 shares of hadsons stock
the issues are being marketed not on the basis of simple premiums but on implicit volatility models devised to provide scientific comparisons between titles in the options market
on the demand side winter battery manufacture has held up quite well and some us buying of lead sheet has been reported in the uk soviet lead buying notably absent in europe in the first two months of the year was resumed when a large buying order was filled by merchants in march
but it said cenergy has made legal challenges to the request
indonesia the only asian member of opec has been severely hit by last years crash in oil prices which cut its oil and gas revenues in half
he said he expects opec will extend its current agreement to restrict production
kurt viermetz worldwide treasurer of morgan guaranty trust co told arab currency traders meeting here that the steady depreciation of the dollar had not gone far enough to rein in us deficits on a lasting basis
he said sterling would lose out as markets turned their attention to capital movements whereas previously they had been restricted to looking only at the interest yield on currencies
miyazawa added that it was difficult to say why there has been such speculative dollar selling in the market
a share buyback program started last year reduced the number of shares outstanding to 826 mln at year end 1986 from 972 mln dlrs the end of 1985 adjusted for the split
in its sec filing the firm said it intends to acquire more stock and may attempt to influence management of the company to make major changes in the companys business or corporate structure siebel said it made net purchases of 163200 coopervision shares since jan
the credit will pay a margin of 20 basis points over us dollar london interbank offered rates libor and will incorporate a tender panel for us dlr advances
in a major challenge to the us plan brazil last month declared a moratorium on interest payments and followed it up with a world tour by officials seeking a political way out of its 109 billion dlr debt burden
shr profit 58 cts vs loss 11 cts net profit 726000 vs loss 145000 sales 4958000 vs 2783000 nine mths shr profit 108 dlrs vs loss 80 cts net profit 1359000 vs loss 1013000 sales 126 mln vs 7145000 note fiscal 1987 net profit includes tax credits of 372000 dlrs in the quarter and 643000 dlrs in the nine months
this is the lowest rate of growth since the mid 1960s the report notes
1986 excludes extraordinary gain of two cts per share in the quarter and four cts per share in the year
sony corp snet chairman akio morita said sonys profits would be sharply down in 1987 as a result of the dollars decline
if foreign exchange rates had remained constant foreign sales would have decreased 40 pct and total sales 42 pct it said
the payment date is april 30
sunbelt nursery group inc sbn 2nd qtr feb 28
dna medical dnam signs pact for stock sale
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
frank and co a specialist unit on the amex trading floor
higher crude oil prices will raise demand for natural gas helping it to reclaim market share lost to heavy oil when prices plunged in 1986 analysts said
the accord provided for capital goods trade between the two countries to rise to 20 billion dlrs over four years
the louvre agreement by the group of seven finance ministers and central bankers to stabilise currencies has worked well and needs no fundamental strengthening at the economic summit in venice on june 8 10 uk chancellor of the exchequer nigel lawson said
they said they saw bhps full year earnings at around 900 mln to 920 mln dlrs
but there is no reason to be overly pessimistic he said
culp inc culpo 4th qtr may two net
brierley investments ltd which has been a frequent critic of the merger launched a full bid for progressive at 420 nz dlrs a share last monday
the united states remains committed to the louvre agreement reagan said in a statement following a meeting with his top economic advisers
tierco tier sells note
de mel will also attend a washington meeting of the group of 24 from april 5 to 8
non callable for life the issue is rated a top flight aaa by both moodys and standard and poors
such policies are much more likely to hurt rather than help the productive capabilities of the us economy it said
last week the aide indicated lugar was planning to offer the 0 92 measure and a bill to tighten a payment limitation loophole
a wall street analyst said it was hard to determine what the equity in the newly leveraged company would be worth
they said the commission has powers to take some limited action before getting ministerial approval to prevent japanese exports of electrical photographic and other goods being diverted to europe following of possible us tariff moves
ussr meat and egg production in january rose only slightly from the previous januarys level while milk production increased by nearly six pct
the refinery started up in 1967 and has an annual capacity of 47 mln tonnes
finland revises currency basket
geraldton tampico 13500 mt bulk mineral sands fio 10000 2000 1 10 5
sterling m3 up 2 1 4 pct in february m0 down
oil industry sources say kuwait is able to get an average 200 dlrs a barrel more by selling oil in the form of processed product such as gas oil kerosene and naphtha rather than as crude
the fed may be lowering its own inflation expectations today said robert brusca of nikko securities international
bank of spain officials said this was an understandable response given that the market is short of funds but banking sources noted that a continued rise in interest rates would neutralize the central banks attempts to curtail short term speculation with foreign funds by making the spanish money markets more attractive
new england critical care necco buys npo
dividend on 1986 business 12 marks per share vs seven marks
spot april us soybean contracts will increase to 90000 yen per 15 tonne lot from 70000 now
proceeds will be used to redeem outstanding preferred stock or for repayment of short term indebtedness
stals the countrys chief foreign debt negotiator said we are busy finding out how they banks feel
illinois regional bancorp said it is evaluating whether to affiliate with a larger bank holding company or continue to remain independent
tenneco vice president joe foster said he did not expect significant increases in drilling for gas until the early 1990s when the us gas reserves life will have declined to about seven years supply
it said results from its bridgewater newsprint mill in the uk should improve greatly this year due to stronger capacity and production and more favorable market conditions
the governments over reliance on revenue from crude oil is adversely affecting australias economic performance australian petroleum exploration association apea chairman dennis benbow said
cibc australia ltd is issuing a zero coupon eurobond with a total redemption amount of 125 mln australian dlrs due may 15 1992 priced at 54 pct sole lead manager cibc ltd said
the officials confirmed a new york times report that kuwait wants to transfer some of its oil tankers to us or soviet registration in hopes iran would be reluctant to launch new silkworm missiles at superpower flags
strata corp said its 1986 earnings report contained a qualified opinion from its independent auditors
franklin insured tax free sets payout
he was in defiant mood last night telling turkish radio we can never accept that greece should confine us to the anatolian continent
there will be no calls before march 31 1992 unless the share price reaches at least 150 pct of the conversion price
pechiney pukgpa said it signed two letters of intent with the soviet union covering the setting up of packaging and packaging materials joint ventures
bank debt had been cut by about one third to 256 billion francs against the end 1985 level of 385 billion
year ago shr figures restated for 3 for 2 splits paid june 1986 and january 1987
he was referring to the meetings of finance ministers from the group of seven g7 leading industrial nations which reaffirmed the pact
gillette says revlon asked its board to consent to 4050 dlrs per share offer
iberica del cobre makes tubes rods rolled and drawn copper and alloy products and its sales of 87000 tonnes of output in 1986 amounted to 22 billion pesetas
the monetary situation is clearly very bad but as long as sterling is firm the authorities are unlikely to put rates up said kevin boakes chief uk economist at greenwell montagu gilt edged
independence said its combined assets are now 25 billion dlrs
lawson says bp share offer going ahead
baldrige concerned about korean taiwan deficits
phillips petroleum said it raised the contract price it will for all grades of crude oil 50 cts a barrel effective today
the united states taiwans main trading partner has said the islands import tariffs still ranging from a high of almost 60 pct were unacceptable
the acquisition requires two thirds approval by husky shareholders other than nova an alberta corp which owns a 57 pct interest in husky
the us attack on irans oil platforms jeopardises our national sovereignty and we will retaliate properly for this perfidious american aggression mousavi told a news conference in damascus
the debentures were priced at 9954 pct to yield 917 pct
lasmo said its advantage comes from its reserves of oil and gas which at the end of 1986 stood at 210 mln barrels of oil equivalent a group record
swire had an extraordinary gain of 591 mln dlrs in 1985
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
the minimum reserve requirement for march before deduction of banks cash holdings was set at 61 billion marks
spending and taxing decisions should be linked more closely
iran and algeria have already called for a higher benchmark
the ec trades with individual comecon member states despite non recognition of comecon
the third major swiss chemical company f
baker has said his own plan was broad and would embrace new innovative ideas bringing together debtors and creditors
clayton and dubilier inc sells burpee
shr 19 cts vs 38 cts net 397000 vs 788000 nine mths shr 80 cts vs 119 dlrs net 1674000 vs 2455000 note company would not provide assets deposits and loans figures
group shr 3599 yen vs 3828 net 2101 billion vs 2108 billion current 4773 billion vs 4806 billion operating 5504 billion vs 5499 billion sales 79271 billion vs 86428 billion note company forecast for current year is group shr 3770 yen net 22 billion current 52 billion and sales 800 billion
bigelow said in adjusting the 1986 results for the special items and also removing the earnings of american television and communications corp atcma time earned 235 dlrs per share in 1986
the figures were given by usda officials at a senate agriculture appropriations hearing yesterday
shr loss seven cts vs profit 17 cts net loss 102000 vs profit 258000 revs 1695000 vs 1371000 year shr loss 33 cts vs profit 26 cts net loss 488000 vs profit 384000 revs 6700000 vs 4774000 note 1986 results include operations of radio stations wjye fm for the full year and wnnr am for the last six months
national distillers paid 570 mln dlrs cash for enron and assumed 34 mln dlrs in debt
under this structure an initial tranche of a minimum 50 mln dlrs has a fixed rate of interest and maturity
such controls can also be exercised even if the stake held is below 25 pct if it can be considered a controlling interest
gencorp was originally placed on creditwatch for a possible downgrade after a partnership affiliated with afg industries inc afg and wagner and brown made a tender offer of 110 dlrs per share or 22 billion dlrs
merrill lynch in london said any further amplification on the sec charge against its executive nahum vaskevitch would have to come from the firmss new york office
microbio mrc plans acquisition financing
marcade group inc mar buys europe craft
the company said those investors will under certain circumstances cede their rights under the letter of intent and any definitive agreement to purchase the fort lauderdale fla funeral home and cemetery business to mhi
the review follows the agreement by the british based real estate firm to acquire a controlling interest in oldham estate plc and its offer to buy the remaining equity
with domestic demand of around 12000 barrels per day bpd and prospects of production of over 100000 bpd by late 1991 png would become an ecuador level crude exporter fesharaki said
he said there is caution in the foreign exchange market against a further rise of the yen and mark and this explains the recent stability in the currency markets
the previous weeks m 1 level was revised to 7409 billion dlrs from 7410 billion while the four week moving average of m 1 rose to 7398 billion dlrs from 7397 billion
he was asked about target zones at a news conference in bonn
union miniere sa said in a statement that it has acquired an eight pct interest in pancontinental mining ltd panas for a sum equivalent to 12 billion belgian francs
this largely related to its vamgas ltd unit non allowable exchange losses and tax benefits from the north west shelf project not recognised in the accounts
listing is in luxembourg
australian minister sees targeted oil tax strategy
producers have resisted reducing the role of the council in the price adjustment procedure and have expressed concern that changes proposed by consumers would weaken the present pact
if indonesia spurs its economic growth too much such as through expansionary monetary and budgetary policies it might create negative effects not only on price increases but also on the balance of payments he told bankers and businessmen in the north sumatran city of medan
sealed air corp see 3rd qtr net
egypt is expected to tender april 22 for 500000 tonnes of corn for may through september shipments private export sources said
of utilicorps total revenues expected for the 1987 first quarter about 43 mln dlrs will be derived from electric operations and about 147 mln dlrs will come from gas operations he said
its cash is strong relative to 1987 requirements but was accumulated through such means as asset sales
meeting in closed session the house ways and means trade subcommittee failed to resolve one of the most sensitive issues in the bill whether they will force major foreign trading partners to severely cut their trade surpluses with the united states
henderson said the 6000 billion yen package announced recently by the japanese government to encourage public works and cut taxes would make a significant contribution to this process though it was too early to estimate its precise impact
under the plan which was presented to institutional lenders the companys unions and the pension benefit guaranty corp substantial amounts of institutional debt would be converted to common stock of the restructured company
five holds are partially flooded and there is some leakage of bunkers from double bottom tanks
april 29 is a holiday here
the talks the latest round in long running negotiations between the two countries were said to have led to little progress on the loan repayment issue
towle said it bought the stock for investment purposes on behalf of its advisory clients
but the obligation for repayment of the debt remains with the original borrower
the collapse of international coffee organization ico talks on export quotas yesterday removes the immediate need to reinstate us legislation allowing the customs service to monitor coffee imports analysts here said
toyota shojis business group collected an estimated 200 billion yen from about 30000 clients many of them pensioners and housewives before the firm went bankrupt in july 1985 according to lawyers
qtly div 15 cts vs 15 cts pay may 4 record april 10 note previous dividend restated to reflect january 26 two for one stock split
the market reacted nervously because the dollar has been moving narrowly against the yen since mid january sumita said
but speculative pressures started to build again this week after baker was quoted on british television at the weekend as repeating earlier statements that washington had no target for the dollar
jordan today bid 74 dlrs per tonne for soft wheat and 75 dlrs per tonne for hard red winter wheat in its tender for 225000 tonnes of hard and soft wheat for april through november shipment
it also said it received 100000 dlrs from the sale of a convertible note to ventana growth fund as part of an overall 1100000 equity financing plan with ventana
about 60 of mexicos 430 or so creditor banks worldwide have still to join the loan but four more acceptances were received today according to senior citibank executive william rhodes who is co chairman of mexicos advisory committee
traders said they expect nabisco will float more debt in the coming weeks to finance the redemption of the 1120 pct notes
in 1986 the fashionable comment in washington was japan bashing
opec conference president rilwanu lukman said he expects next weeks ministerial meeting in vienna to be brief and calm and that opecs current price and production agreement may only need a slight review
but the company said its financial advisors have said they believe that after the recapitalization caesars world should have the financial flexibility and resources necessary to finance its current and projected operating and capital requirements
the spokesman said the move would help raise company values required to pay dividends under canadian law
federal realty issues 75 mln dlr convertible bond
tesco issues 100 mln stg convertible bond
total operating profits were 3497 mln dlrs and net earnings were 2063 mln dlrs for 1986
bilzerian did not provide details with respect to financing of his proposal which is not subject to a financing condition
kroger kr to buy eight food stores
the bank has provided 689 mln stg assistance so far today
the sources said the reagan administration unsuccessfully sounded out its allies on a system of target zones to limit currency fluctuations just before the february meeting
french free market cereal export bids detailed
finance minister michael wilson said tax reform will not affect his determination to reign in expenditures but his forecasts show a slowing of the decline in the budget deficit in the late 1980s
lim earlier met european community farm commissioner frans andriessen and industry commissioner karl heinz narjes
monoclonal antibodies inc said it signed an agreement in principle to buy genesis labs inc for about 10 mln dlrs of common stock
shr 47 cts vs 31 cts net 4757000 vs 2466000 revs 328 mln vs 335 mln avg shrs 12638000 vs 8941000
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
year to date domestic crude output was estimated at 840 mln bpd off 76 pct from 909 mln a year ago while gross crude imports averaged 392 mln bpd up 271 pct from 308 mln it said
lanston and co inc
it said this assumes full use of the remaining 1250000 dlrs available under a line of credit from celanese corp which requires approval of celanese corp cz the company said its ability to obtain funding was adversely affected by a suit filed march 4 by two of its shareholders seeking to represent a class of holders against three officers of endotronics
reduce the budget deficit volcker responded when asked by a member of the senate banking committee about trade legislation priorities
pancanadian 87 pct owned by canadian pacific ltd cp said it would receive 17 mln british pounds cash 35 mln canadian dlrs at closing expected in two to three months
japanese crushers bought 4000 to 5000 tonnes of canadian rapeseed in export business overnight for may shipment trade sources said
the company today reported 1986 earnings of 439100 dlrs on revenues of 9918413 dlrs up from earnings of 259948 dlrs and revenues of 9683392 dlrs a year before
rates for adjustable rate mortgages decline eight basis points from early february to 843 pct in early march the bank board said
an investor group including bessemer securities corp and cilluffo associates told the securities and exchange commission it asked federal antitrust regulators for advance clearance to hold more than 30 mln dlrs of intermedics inc common stock
interest is payable half yearly
both for 15 billion yen due 1992 the first for eksportfinans was at five pct and 103 pct led by mitsubishi finance international
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
a face off was averted when turkey confined its research to territorrial waters
macmillan bloedel mmb stock split approved
westpac banking corporation is issuing a 50 mln australian dlr eurobond due may 6 1990 paying 14 1 2 pct and priced at 101 1 4 pct lead manager deutsche bank capital markets said
south koreas purchase of about 24 mln tonnes of us corn in the past six months close to double last years total indicates that imports from the united states as well as total imports are set for a dramatic jump the us agriculture department said
most dealers were surpised by the dollars sharp fall against the yen in new york although many had expected such a drop to happen eventually
the debt accord announced last friday stretched repayments of 103 billion dlrs over a 17 year period with a seven and a half year grace period and an interest rate margin of 7 8 percentage points over eurodollar rates
dome said in the filing that its debt plan proposes making payments under a five year income debenture to the lender whose debt is secured by domes encor shares
gruppo ferruzzi is studying a project which could result in a public share offer of up to 49 pct of its french unit european sugar france and could raise around 400 mln dlrs ferruzzi chairman raul gardini said
the new ruling will make it easier for calls to be made from remote regions
the london based trade journal metal bulletins average producer price of good ordinary brand zinc for week ended april 10 is 79000 dlrs per tonne
in order to reduce these tensions decision making in the ec must become less self centred and the us administration will have to exercise the authority to convince congress and pressure groups of the need for accommodation he added
the european community commission said it has opened an enquiry into allegations that the soviet union is dumping mercury on the european market at below cost prices
mortgage growth investors mtg 1st qtr feb 28
texaco filed for protection under chapter 11 of the us bankruptcy code yesterday after failing to reach a settlement with pennzoil on an 11 billion dlrs court award for illegally interferring with pennzoils proposed purchase of getty oil co
dome common shares closed at 113 dlrs on friday on the toronto stock exchange
ic industries icx unit to sell off more track
we are going ahead because the whole issue has been underwritten we had it underwritten because there is always a risk of this sort of thing happening lawson said in a bbc radio interview
the premiums range from 22 pct to 36 pct and maturities from 18 months to four years and three months in all cases longer than gold futures and options on us markets
poor business prospects were attributed to the yens rise and slow world steel demand
but all participants representatives of the three biggest swiss banks the bankers association itself the churches and church charities agreed to condemn south africas apartheid policy both publicly and in contacts with business and government offices there
banking center said it has signed a letter of intent to acquire first railroad mortgage co from first union bank of augusta ga for undisclosed terms
cyacq raises offer for cyclops to 9250 dlrs share from 80 dlrs
the secretary general of the african development bank expressed confidence in the institutions ability to handle potential problems with repayment of development financing loans
they expected the amount to total around 15 billion to two billion dlrs
the two new companies will work for the sumitomo metal group on fund raising and investment in financial markets
at that price uspci could maintain a stock price in the low 40s augenthaler said
the japanese think ec firms are now more competitive than us firms a factor which is aggravating the exchange rate imbalance and which will cause problems
jay hair the federations executive vice president called the interiors research into the effects of development so fundamentally flawed that it provides little or no basis on which to make a public policy decision hair called the departments proposal a reflection of a largely political decision adding we have no confidence in interior to represent the broad public interest in this area interior wants to open the 15 million acre coastal plain to oil and gas exploration but it said only with tough safeguards to protect the areas caribou and musk oxen
the banks should be encouraged to look at the so called menu approach he said
industrial production in january and february was only 13 pct up on the same 1986 period mti said while hard currency exports fell six pct as imports rose 10 pct
reserves were just 577 billion barrels in 1974 rose sharply to 4019 billion in 1978 and flattened out at 72 billion in both 1981 and 1982
it said the bilzerian proposal calls for shareholders to receive on a blended basis 1667 dlrs in cash and 330 dlrs in liquidation value of cumulative exchangeable redeemable preferred stock for each common share
if that means waiting for a while then so be it prebble said
holiday inns inc a unit of holiday corp is raising 14 billion dlrs through offerings of notes and debentures said bookrunner drexel burnham lambert inc
federated department stores inc said sales for the five weeks ended april four were up 49 pct to 9349 mln dlrs from 8916 mln dlrs a year before the company said sales for the first two months of its fiscal year were up 68 pct to 165 billion dlrs from 155 billion dlrs a year before
canada details two bond auctions
he said the state will increase investment in agriculture and supplies of fertiliser diesel oil and other production materials and stabilise fertiliser and diesel oil prices
robert brusca of nikko securities international said that a 13000 decline in auto manufacturing employment accounted for nearly half of the total drop in manufacturing jobs
system energy resources inc a unit of middle south utilities inc said it plans to file with the securities and exchange commission a request for authorization to retire a number of outstanding first mortgage bonds
the five leading west german economic research institutes which have revised down their forecasts for 1987 growth do not predict a recession in west germany their spokesman hans juergen schmahl said
but he added that the suspension of payments to private foreign banks who hold the rest of the foreign debt would be prolonged though the government hoped to negotiate an agreement with these creditors
us congress to look at soil program exemptions
the series a and b preferred shares carry no vote while dividends are paid
unicoa to merge into its united insurance unit
the accord restructured 58 billion dlrs of previously rescheduled debt 35 billion dlrs of debt falling due between january 1987 and december 1992 and 925 mln dlrs of new money lent by the banks in 1985 at a spread of 7 8 percentage points over london interbank offered rates libor it also rolled over trade credits worth 29 billion dlrs
the companys shares were quoted at 372p at 0915 gmt compared with 364p last night
united medical corp said it has reached a definitive agreement to sell its hospital distribution unit to myriad group inc for undisclosed terms with closing expected in the next several weeks
iraq says it hit ship in gulf off iran today
australia and new zealand banking group ltd anzas is planning a 100 mln australian dlr euro commercial paper program arranger anz securities asia ltd said
the 56 were eventually brought safely out of the mine
reynolds did not specify whether the legal challenges were dropped or dismissed
chinas first joint venture bank xiamen international bank xib reported a group net profit of about 14 mln hong kong dlrs in 1986 the banks first full year of operation
both steps are aimed at establishing a wider domestic capital market as part of singapores plans to expand its financial sector finance minister richard hu said
the japanese understand that full well yeutter said
coopervision said furthermore until the entire net cash proceeds from the recent sales of several of our businesses are employed to reduce indebtedness make strategic acquisitions and or are otherwise employed in relation to a possible recapitalization of the company recovery of net income will be held back by the loss particularly of the tax income of the ophthalmic pharmaceutical business sold to johnson and johnson
morrison knudsen mrn sees year net falling
loans to finance hong kongs visible trade the mainstay of the local economy rose by 151 pct against a decline of five pct in 1985
the company said the split will be effective on stock of record april eight
near may in london hit a five year low this morning at 1220 stg about 50 stg below last nights close they said
chi chis inc chic 3rd qtr jan 31 loss
interest will be two pct for the grace period and three pct over the repayment period of 30 years
this estimate is 198 to 202 pct lower than the 124 to 126 mln tonnes at which private sources put 1985 86 production and 211 to 227 pct lower than the official 128 mln tonnes
it said chile will supply copper at preferential rates to the venture whose equipment comes from wednesbury tube co of uk the agreement calls for joint sino chilean management of the venture for 15 years the paper said
the company in the proxy statement mailed to 135000 stockholders for its may 21 annual meeting in savannah ga said the added shares will be needed to complete its proposed buyout of american motors corp amo chrysler also said the additional shares could be used for future acquisitions financing transactions stock dividends or splits and employee benefit plans
an underwriting group will be led by morgan stanley and co inc
he said in the case of brazil write offs of loans is a worst case outcome which is highly unlikely
auditors qualify mco resources mcr report
kenan transport co ktco sets quarterly
the oil worth about 10 mln us dlrs will be shipped by december this year they added but did not say what bangladesh would sell in return to the soviet union
teva teviy sells promedico subsidiary
that might harm the fragile us economic expansion
today may futures in new york settled at 10790 cents a lb
the ldp expects the measures to prop up the economy and lessen trade problems with the us they added
under the new plan introduced in line with soviet leader mikhail gorbachevs drive to modernise the economy special inspectors have the right to reject goods they consider below standard
shr loss 92 cts vs profit one ct net loss 2487439 vs profit 48709 revs 1788141 vs 4167070 year shr loss 150 dlrs vs profit 48 cts net loss 4073724 vs profit 1309412 revs 8193455 vs 157 mln note 1986 year net includes 3095305 dlr writedown of oil properties and reserves
national westminster bank chief economist david kern said the lower borrowing target set in the budget had increased the likelihood of an early one point base rate cut
the banks are putting a lot of pressure on these guys markwart said
talks will be extended to tomorrow if there is no breakthrough in todays session he said
twa stock rose one to 28 1 4
the agreement signed on tuesday with britains export credits guarantee department was the first in nigerias tour of creditor nations
the us has already banned use of use cfcs in aerosols and japan has asked for voluntary restraint but both still use cfcs in industrial processes
the closure idled 3500 factory workers and left 30000 small cane planters with no outlet for their cane
the sources said the revision is still being discussed and required approval by the federal banking supervisory office in west berlin the bundesbank and west germanys four banking associations
woolworth bids 244 mln stg for superdrug
general partners said it was prepared to raise its bid for gencorp inc to 110 dlrs cash per share from 100 dlrs per share
there was widespread confidence a result on the outstanding items could be reached by friday when the council session is due to end consumers said
but the push to include non communist countries in countertrade is also due to other factors including the slow growth of foreign reserves a tight debt repayment schedule shrinking aid and trade protectionism businessmen said
everything we are doing is to manage our cash flow and we are using that to manage our debt
emery air freight corp to offer 40 dlrs shr for purolator courier corp
vontobel also noted that recent years had seen companies worried about takeovers increasingly issuing registered shares and participation certificates rather than bearer shares
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
a delegate from one of the eight said more producers now supported their cause
these purchases together with those made by county on 10 march represent about 48 pct of hillards issued ordinary share capital it said
henderson said 1987s results would be boosted by glidden paints which ici bought last november for 580 mln dlrs from a unit of hanson industries inc
analysts said the huge loss improves the appeal of a debt accord by underlining company statements that creditors would receive little or nothing under a forced liquidation that could take several years to complete
philippines world bank sign 310 mln dlr package
japanese financial futures plan revealed
us and uk bank regulators are asking banks to set aside more reserves than is necessary to cushion them against the risks posed by the interest rate and currency swap transactions they carry swap dealers said
the redstone group which has a 195 pct stake in viacom and the management group which has a 54 pct stake have both agreed not to buy more shares of the company until a merger is completed unless the purchases are part of a tender offer for at least half of the outstanding stock
us home uh in new credit agreement
the loan was signed here today in the offices of the caracas based caf by the corporations president galo montano perez and ecuadorean ambassador antonio parra gil
the 13 pct to be repaid under the standstill amounts to 142 billion dollars
earlier the company reported 1986 earnings ended january 31 of 890 mln dlrs or 149 dlrs per share versus 946 mln dlrs or 161 dlrs per share in fiscal 1985
these factors raise the question is there enough strength to keep the economy from tipping into a recession said lyle gramley chief economist of the mortgage bankers association and a former federal reserve board official
wang said haefner the swiss investor would hold about 25 pct of computer associates stock after the merger
link technologies develops and markets computer terminals wyse also said
he estimated that brazils yearly interest payments to canadian banks totaled about 575 mln dlrs or about 10 pct of their total 1986 pre tax earnings
greyhound said it would pay 80 mln dlrs for many of trailways terminals buses and garages
keystone camera kyc to distribute watches
pergamon holdings ltd and its associate companies said that they had sold 30 mln ordinary shares in the british printing and communication corp plc bpcll and 105 mln in hollis plc together with other securities
although flowering was good following the start of the rains pod setting was not up to expectations possibly because the drought had caused a drop in the insect population which pollinates flowers the sources said
oper shr 57 cts vs 73 cts oper net 6051000 vs 7818000 revs 500 mln vs 560 mln year oper shr 106 dlrs vs 124 dlrs oper net 11301000 vs 13203000 revs 1719 mln vs 2074 mln note current oper net excludes extraordinary income of 180000 dlrs in qtr and 1119000 dlrs in year vs previous losses of 2345000 dlrs and 515000 dlrs respectively
results restated for pooled acquisition of third national corp in december 1986
the engineering employers association gesamtmetall is offering to bring in a 38 hour week from july 1 1988 and give a two stage wage increase a 27 pct rise from april 1 this year and another 15 pct from july 1 1988
he was speaking to reporters at a sony factory opening here
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
american savings said knoll also had talks with chairman of the executive committee shepard broad and chairman morris broad on the purchase of their american savings shares as well at 20 dlrs each but no agreement was reached
note period year to december 31 1986
according to the 230 mln stg contract lombard north central an affiliate of national westminster bank plc nwbll will build and lease plants for engine assembly body panel pressing and resin moulding by 1988
it said it has agreed to make a multiyear multimillion dollar commitment to genecor research products related to food additivies and pharmaceutical intermediates
the personal savings rate eased to 36 pct in february from four pct in january the department said
the poultry is for shipment june september and the bonus was 71980 dlrs per tone it said
videotron buys into exhibit company
some importing countries insist the international cocoa organization icco buffer stock rules must not be muddied with quota type subclauses which might dictate the type of cocoa to be bought
these include the possible acquisition of the corn products maize starch plant at haubourdin in northern france vernes said
the managers of the facility are westpac bank of montreal asia ltd bot international hk ltd commonwealth bank of australia and credit industriel et commercial de paris
lone stars one sentence statement gave no further details and company spokesmen were not available
washington is also pressing the world bank to take more account of the environment when making loan for dams and other projects
the commission may also take other steps to dissuade producers from their chosen course such as removing the time limit on storage contracts which presently means that intervention stocks have to be removed by the end of september czarnikow says
consideration for the purchases which will be based on the net asset values per share of the companies has yet to be finalised but some nine mln stg of the total represents debt assumed by glynwed
balladur has had contact with g 7 ministers
e systems inc esy sets quarterly
franklin ohio sets monthly payout
if pubco is acquired in a merger or other transaction each right will entitle its holder to purchase at the rights then current exercise price a number of the acquiring companys common shares having a market value at that time of twice the rights exercise price the company said
usda reports 10572 mln acres in conservation
it said a 163 mln dlr 85 pct note due dec 31 1992 includes participation in the 1992 profits of the acquiring company
tcw convertible securities cvt sets dividend
the comments by miti officials followed a call by prime minsiter yasuhiro nakasone to clear up any misunderstandings on the us side about the pact watanabe said
market operators were able to evaluate the situation in the gulf on the basis of confirmed fact and finding it less serious than first thought took profits taking prices lower analysts and traders said
ec external trade commissioner willy de clercq said after the talks there was a growing impatience with japan in the ec
medar mdxr changes fiscal year
if this bid fails beghin say would consider acquiring and developing two other french plants either in the maize or wheat starch sector
industrial countries do not agree on ways to provide debt relief for the worlds poorest nations a senior us treasury official said
us asks congress to revise tariff categories
itoh and co ltd have signed a letter of understanding to try and boost trade ties between the two countries the industry department said
an additional 8500 tonnes of frozen poultry remain available to egypt under the export enhancement program initiative announced dec 19 1986 and feb 27 1987 the department said
citicorp switzerland pioneered warrants with a series of equity linked covered issues based on japanese company shares over the past two years and last autumn swiss banks launched covered warrants in swiss registered shares in a bid to give foreign investors a chance to play in a market otherwise closed to all but swiss citizens and to play it with higher leverage
oper net for 1986 year also includes profit from discontinued operations of 360000 dlrs or five cts a share
the nigerian naira firmed 26 pct against the dollar after 17 banks were disqualified from bidding at todays weekly foreign exchange auction the central bank said
thackeray corp thk year loss
telequest inc telq 4th qtr dec 31 loss
lear siegler eventually went private for about 166 billion dlrs
reagan urges fulfillment of exchange accords
it may be wishful thinking but there is a possibility the united states may lift its decision at an early date tamura said
honeywell bull seeking 400 mln dlr facility
new crop corn prices firmed earlier this week on ideas of a large sign up in the program
taft tfb to continue to review alternatives
national bank mortgage corp is issuing a 100 mln canadian dlr eurobond due may 18 1992 with a nine pct coupon and priced at 101 3 4 pct mcleod young weir international ltd said as lead manager
application for nasdaq listing is expected as soon as requirements are met
netherlands grants 47 mln dlrs to bangladesh
the fed continues to be accommodative in its provision of reserves indicating that there has been no policy shift since the beginning of this year said harold nathan economist at wells fargo bank
however since then the pound has continued to gain strongly
more
the company said it will buy the system from a california limited partnership which is wholly owned by toronto based hollinger inc it said valley cable operates a 60000 subscriber cable television systems passing about 180000 homes in the west san fernando valley area of los angeles
but denman disagreed with other provisions which would require president reagan to take retaliatory trade action against nations with large trade surpluses with the us and would set new standards for judging unfair foreign trade practices
chief executive giorgio ghiringhelli told reporters he expected almost all important sectors to expand well in 1987
japan wholesale prices fall 01 pct in february
the us agriculture department announced the prevailing world market price adjusted to us quality and location for strict low middling 1 1 16 inch upland cotton at 5269 cts per lb to be in effect through midnight march 5
the bank of france said it has invited offers of first category paper today for a money market intervention tender
business day newspaper said the latest credits extended to nmic include a 127 mln dlr loan with chemical bank as the lead agent
canada january trade surplus 533 mln dlrs
european zinc production including estimates for yugoslavia fell to 152900 tonnes in february from 164200 in january compared with 156400 in february 1986
rising demand for us rice may gradually reduce surpluses while a marketing loan should help increase the us share of the world rice market despite sluggish trade this year the us agriculture department said
skyline said the 1987 exploration drift on 16 vien east at johnny mountain has advanced 320 feet
total investments fell 07 pct against a rise of 63 pct in 1985
us soybean acreage after soaring to 714 mln acres in 1979 from only 52 mln acres five years prior to that has steadily declined in the 1980s
southeast banking corp stb declares qtly div
expected signup of up to 90 pct in the 1987 feed grains program along with 19 mln acres enrolled in the conservation program will cause acreage to plummet department feedgrain analysts said
however rep
of all polled companies 23 pct rated their export order books to be above normal and 53 pct described them as normal while only 23 pct believed export orders were below normal levels
us defense secretary caspar weinberger told a pentagon news conference the destroyers kidd young leftwich and hoel fired about 1000 rounds of five inch shells at irans rostam oil rig 120 miles east of bahrain beginning at about 1400 gulf time 0700 edt on monday
the action was taken at the request of iraqs state trade organization for grains and foodstuffs and reduces the line for hatching eggs to zero and the line for breeder livestock from 150 mln dlrs to 80 mln dlrs the department said
money brokers said yesterday they expected the bank to allocate about 35 billion guilders
angus said the recent purchase of chesebrough ponds inc cbmn for 7250 dlrs a share was unlikely to bring any earnings dilution
while textile producers are making significant investments they could do more ota analyst henry kelly said
endotronics endo expects loss for year
he said international organisations such as the world bank pledged an unchanged 168 billion dlrs in fresh funds to indonesia and this years overall total up from last years 26 billion reflected higher pledges from donor countries
a company spokesman said 1986 results were boosted significantly by the booking of two large orders for nuclear power plants
northern trust corp ntrs 1st qtr net
national entertainment nent reverse split set
saudi arabia is completely sticking to opec decisions he said
the unadjusted jobless total including school leavers fell to 323 mln or 117 pct from 330 mln 119 pct in january
the new china news agency quoted zhang yan a delegate to the national peoples congress attacking grain policy
italian treasury cuts interest on certificates
also washington and its allies are reviewing remaining export controls in hopes of simplifying the list of prohibited items and speeding up the licensing process he said
kings road entertainment inc kren 3rd qtr net
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the bulk of iraqs commercial debt excluding loans by its allies in the gulf war is in the form of trade financing
the company said lower corporate tax rates and the restructuring are expected to substantially improve brown formans earnings and cash flow in fiscal 1988
qtly div 20 cts vs 19 1 2 cts prior pay june 20 record june 5
baltek corp said it has acquired a shrimp packing plant in ecuador for undisclosed terms
general mills gis sees strong 4th qtr results
frances regie nationale des usines renault agreed to forgive 150 mln to 200 mln dlrs of american motors corp debt as part of chrysler corps c 15 billion dlr acquisition of american motors a chrysler official said
the quaker oats co said it sold its vernells fine candies inc unit to privately held keystone partners inc for an undisclosed price
united service advisors inc usvspo 1st qtr
one bank official said he could not deny the possibilty of the bank of japan activating currency swap agreements with the us and other central banks if these banks continue intervening to sell the yen in support of the dollar and run out of their yen cash positions
us house targeting proposal sparks interest
this was a remarkable change in attitude especially on the part of our american colleagues he said
other genencor shareholders include staley continental inc sta corning glass works glw and genentech inc gene the company said it has been granted options to increase its equity stake during 1987
two public holidays that week could also distort the market
the banks raised the prime to the current six pct from five pct on february 28 after cutting it 1 1 2 points from 6 1 2 on january 15 in response to upside pressure on the hong kong dollar he said
on february 26 the company redeemed convertible debentures with common stock which at once increased goldmans stock holding and the total outstanding
chapman energy inc said it is launching a major restructuring which if not approved it will have no alternative but to seek protection under chapter 11
lucas said it intended to use the proceeds of the issue for general corporate purposes
of that there is a two pct selling concession with the remainder a combined management and underwriting fee
it said chinas industrial production this year has been normal but product quality and efficiency need further improvement
but he declined to comment on the prospects for action by the fed and the bundesbank
human sugar consumption in october february rose to 817856 tonnes from 799128 in the year ago period
by mid year however the company said a reduced corporate tax rate should have a positive impact on its net income and cash flow
the official tanjug news agency said the agreement was reached in paris today in talks between yugoslav delegation headed by finance minister svetozar rikanovic and 16 western creditor countries but it gave no precise figures for the amount to be rescheduled
the company said it completed the previously announced sale of heublein for 12 billion dlrs in cash today
honduras will tender april 2 for us and non us flag vessels to import 19369 tonnes of wheat in bulk an agent for the country said
image technology makes chemicals for the semiconductor industry
you may be surprised if you come to see our plants
metro funding shareholders approve merger
herringtons proposal was reported by the washington post to have been made in a letter to reagan submitting a study that found the united states would be importing half of its oil by the 1990s threatening us national security
the debentures are convertible into the companys common stock at 1406 dlrs per share representing a 25 pct premium over the stock price when terms on the debt were set
level vi covers wheat entered after january 19 1984
the ministry had previously put the january and december indices at 1016 and 1047 respectively
investor paul bilzerian said if pay n pak stores inc enters into a merger accord with him he will immediately begin a tender offer for 75 mln shares for 20 dlrs per share in cash
earlier the company said it expected earnings per share from continuing operations to be 35 to 45 cts a share
the debentures will be convertible into western digital common stock up until the redemption date at a conversion price of 1750 dlrs per share the company also said
this weeks group of seven g 7 meeting in washington provides an opportunity to verify an accord reached at the tokyo summit last may to include italy and canada in group of five g 5 talks on management of the international monetary system and related issues the italian treasury said
he added that many of the fixed interest eurobonds dollar straights had been trading basis only for some time prior to this weekends news
dixon groups offer extends to march 17
stephen slifer of shearson lehman brothers inc added we have some very good looking monetary aggregate data
caisse centrale desjardins du quebec is issuing a 10 billion yen step up eurobond maturing on march 25 1992 and priced at 101 3 4 pct joint bookrunner warburg securities said
the biggest increase was seen on the ekofisk field which pumped 168023 bpd in september against 48195 bpd in august field operator phillips petroleum norway inc said
this was down from 140 pct in february last year
us to protect only american ships
if not there is a great threat of us legislative action to counteract that trend yeutter said
a finance ministry spokesman asked for an official ministry reaction to bakers remarks said he could make no comment
but the official denied the plan amounts to interest rate capitalisation a development until now unacceptable to the banks
however given the significant current interest in the company we also feel that we should carefully review all the options available
the 15 year bond will mature on may 31 2002 the 10 year on may 30 1997 and the six year on may 31 1993
reserves were reported to have dropped below four billion dlrs
gencorp inc said it filed suit against the unsolicited 100 dlr a share tender offer of wagner and brown and afg industries
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
city resources ltd said it has agreed in principle to sell a 50 pct interest in a group of mineral properties in the southwest pacific to a buyer it did not name for 30 mln canadian dlrs
the bank of england said it had revised its forecast of the shortage in the money market down to 450 mln stg before taking account of its morning operations
the optimistic outlook as well as leiners expectation that the yield curve will flatten in the near term is based on an improving inflation outlook
at the same time the ministers will discuss the fundamental price weakness in basic commodities the export mainstay of many developing countries
the moodys index includes a sample of liquid bonds moodys chose to mirror the credit quality maturity duration and coupon distribution of bonds in the industrial utility and financial sectors of the us secondary market
thai zinc exports fall in march
ryan mcfarlnad develops cobol and fortran language compilers for the micro mini and mainframe computer markets
holiday rambler corp a unit of harley davidson inc said it filed with the securities and exchange commission a registration statement covering a 70 mln dlr issue of subordinated notes due 1997
tenera tlpzv plans to buy back lp units
rises in west german and international interest rates are a cause for concern and the bundesbank has no interest in higher capital market rates bundesbank president karl otto poehl said
allegheny international inc the consumer products concern that today announced a merger agreement with a first boston corp fbc affiliate in a deal worth about 500 mln dlrs said it intends to divest more units as a way to increase profits
this is the first hard constructive proposal coming out as an alternative to the reagan administrations farm proposal the plan offered by reps
in an inteview with this week usda secretary richard lyng said that no decision had been made on a wheat subsidy offer but that such an offer had not been ruled out
ghana to buy crude oil from iran
japan has no plans to invest further in the ethylene industry in order to cope with the additional demand despite rising prices trading house sources said
the dollar opened lower against virtually all currencies and traded in a narrow range after the communique which reaffirmed support for the paris accord on currency stabilisation but contained no moves to strengthen it
i wish to pay tribute to the private sector for its contribution to the economy in 1986 and challenge it to maintain the same spirit this year the manufacturing sector grew by an estimated 58 pct in 1986 in line with the same period the previous year he said
he told a press conference brazil now had to reconsider its export plans and that the 155 mln bag export figure which it had proposed for itself earlier should no longer be taken as the countrys export target to ico member countries
qtly div 6 1 4 cts vs 6 1 4 cts prior pay june 19 record june 5
in addition deductions for taxes freight handling and storage are deducted from the gmp the farmer receives
yesterday the companys chairman a
lead managers underwriting 20 to 25 mln dlrs will receive a five basis point management fee
the unit manufactures structural materials including advanced composites adhesives and aluminum honeycomb for the european space industry
continental bank of canada a subsidiary of lloyds bank plc lloyl said it intends to redeem all existing preferred shares and distribute a stock dividend to common shareholders
he told the two companies are discussing a number of topics ranging from a joint venture in the production area to chrysler becoming a shareholding partner in the italian firm
united medical corp said it it has requested a meeting of holders of its swiss francs 30 mln 5 1 8 pct convertible subordinated notes due 1991
the trend is toward continued spending but certainly at a much more sluggish pace said don maude of midland montagu capital markets inc
johnstown american cos said it began a tender offer for the 500000 outstanding shares of its 1985 preferred stock
duffy told a press conference the cairns group of 14 major agricultural producers to which australia and thailand belong has emerged as an important third force in any multilateral trade talks
the decision was announced late friday
coupon cut on keihanshin real estate warrant bond
banks must repurchase securities pledged on july 1
the company said the exchange offer is conditioned on tendering shareholders releasing certain rights to contingent payouts and profit share interests that were given in connection with its 1985 acquisition of consolidated capital equities corp and johnstown management co
two new yen issues were features on an otherwise quiet primary market
there is likely to be a shift to short term bank deposits by long term depositors bankers predicted
shanghai plans soft loans to finance main projects
the economic situation has deteriorated in recent months and slow growth high unemployment and large payments imbalances are likely to persist it said in one of its gloomiest reviews of the world economy in recent years
service corp srv dumps capital southwest stake
taft broadcasting co said its board continues to explore alternatives such as a possible financial restructuring in response to a theta corp offer of 150 dlrs per share for taft stock
by comparison in 1985 about 37 mln tons of cargo traveled through the montreal lake ontario section and 42 mln through the eight lock canal
the bank itself does not disclose information on intervention
of the plants 800000 tonnes annual capacity 425000 will be smelted into 218000 tonnes of aluminium and the remaining 375000 will be exported the official said
mississauga ontario based tricil is a waste management company with operations in the us and canada
its 1986 and 1985 earnings were based on 15 mln shares outstanding
preference shares of state controlled creditanstalt rose eight schillings on the vienna bourse today to 2008
cyacq corp an investor group bidding for cyclops corp said it would raise its outstanding tender offer price for cyclops common to 9250 dlrs a share from 80 dlrs if certain conditions were met
nigerias official debts to the uk its major trading partner are estimated at 25 to three billion dlrs
caisse daide a lequipement des collectivites locales caecl is issuing a three billion franc two tranche domestic bond the lead managers said
and with mortgage rates now at their lowest levels in years the loans have been snapped up by eager home buyers trying to lock into cheap money
he said brazils suggestion is part of its demands before the need to renew the mechanisms of loans in the world funaro said currently debt negotiations are very complex and complicated mentioning cases of countries which had to wait some 10 months before getting a reply from creditors
moodys said it is concerned over the outlook for improvement in the lead banks earnings and asset quality which have been burdened by high levels of nonperforming assets and charge offs
the stock split also is payable june 12 to holders of record may 22
standard and poors corp said it downgraded six us money center bank holding companies affecting about 133 billion dlrs of debt securities
as dealers get bigger industry officials are talking about the possibility that some of them might become publicly owned or open international operations
the company is a defendant in a consolidated class action law suit which seeks damages in an unspecified amount and is also a defendant in a related shareholder action
finance ministry approval of yen commercial paper issues by japanese residents which is expected soon will stimulate local agencies to grow quickly securities analysts said
gunnar said it and mill city can earn a 50 pct interest in tyranexs option to buy the tyranite gold mine by spending up to five mln dlrs on exploration development and feasibility studies by 1990
both tranches are non callable for life
the crop reporting board said the estimates for the 1986 87 season are based on maturity and yields tests as of april 1
qtly div four cts vs four cts prior pay may 13 record april 29
banca cattolica in 100 mln dlr cd issue
heavy inflows particularly in january around the time of the ems revaluation boosted domestic money supply
zhang said one reason for the rise in exports was improved incentives to export firms which are being allowed to retain more foreign exchange from the goods they sell
producers want the council to have the last word and have resisted reducing its role in the price adjustment procedure
fuerzas electricas de catalunya fecsa suspended repayments of principal on its debts in order to start renegotiating its obligations with banks next month a company spokesman said
community bank system cbsi buys nichols bank
glickman also said his committee will not approve usdas proposal to cut target prices by ten pct per year
the ecgd suspended its cover for exports to nigeria in 1983
australian oil tax cut seen boosting output
the commerce department advised the pentagon recently that defense objections to two proposed sales to an iranian power company and the islamic republic of iran news agency were not valid and the sales of small and medium computers would go through unless more evidence was presented
in its annual report to be mailed to stockholders tomorrow the company will announce its first quarter loss will be in excess of 10 mln dlrs primarily as a result of lower than anticipated revenues
besides industrial troubles there has also been considerable unrest this week in the agricultural sector
lyng will also press japan to eliminate an import quota for beef by april 1988 because he believes japanese consumers would like to buy much more beef than currently allowed
cal fed income partners lp said it has acquired two shopping centers for a total price of 184 mln dlrs
teck hock owes more than 100 mln singapore dlrs and since last december the banks have been allowing the company to postpone loan repayments while they try to find an investor
the bond is due on may 15 1990 and interest is paid on that date annually
however with protectionist attitudes on the rise in this country this source of growth is at risk he added
le soir daily quoted cger vice president paul henrion as expressing strong opposition to the privatisation of his bank
south africa sets news conference on debt
the cabinet has approved a bill making it easier for the government to issue commemorative coins a finance ministry official said
amcast industrial corp acst 2nd qtr march one
the dutch guilder issue will be led by rabobank nederland
the brazilian coffee institute ibc tonight closed export registrations exporters said
the transaction is valued at 162 mln dlrs
standard said its refined product sales also rose last year to 644500 barrels per day from 604200 barrels daily in 1985
some danish slaughterhouse officials expressed suspicion that the canadian action was in response to tightening up by ec veterinary inspectors on canadian food exports to the ec
bankers said the reserve requirement increase could have some impact on commercial lending rates but should not hit the money market too hard
since the debtor countries must look to the wealthier states for markets for their products as well as financial assistance economic weakness in the developed nations economies poses fundamental worries
shell mobil and caltex are pricing 92 octane at 902 cents and spc and bp at 906 cents
sugar prices too low to boost latin output
the company will become a wholly owned unit of altron
ferruzzi plans to set up a sugar division and import some 30000 tonnes of industrial sugar from its french factories in its first year of operation
the united states has vowed to keep the gulf open to international oil traffic and has warned tehran against using the chinese made missiles recently installed in iran near the mouth of the gulf
the company said the dividend was raised to 375 cts a share from 35 cts on a pre split basis equal to a 25 ct dividend on a post split basis
ship prepares to load wheat for fiji at geelong
irt property co a real estate investment trust based in atlanta georgia has launched a 30 mln dlr convertible subordinated debenture in the euromarket a partner of chandler partnership ltd said
vickers da costa ltd and smith barney harris upham international inc will each have 03 pct
the new financing for italfunding being syndicated among about five major international banks will be a fully underwritten revolving facility with an average life of seven years and the facility will fund the loan
us house speaker denies trade bill hurt stocks
were talking to a number of people merrill lynch canada deputy chairman e
the bond guaranteed by austria will be issued in denominations of 1000 and 10000 marks
the pipeline was shipping roughly 225000 barrels of crude oil per day or about 55 pct of its capacity during the 30 days preceding its shutdown on saturday stevens said
all this produce will be imported into spain at special levy levels likely to be below those applying for imports into other ec countries
shr 34 cts vs 62 cts net 4717000 vs 8277000 revs 2134 mln vs 1587 mln nine mths oper shr 118 dlrs vs 154 dlrs oper net 162 mln vs 178 mln revs 5172 mln vs 4514 mln avg shrs 137 mln vs 116 mln note 1986 nine mths net exclude204000 dlr gain from reversion of pension assets
of the new total 150 mln dlrs has been committed by citicorp
the other milds group comprising costa rica dominican republic ecuador el salvador guatemala honduras india mexico nicaragua papua new guinea and peru might consult with brazil and colombia on this meeting but it was not certain whether these two countries would attend they said
shr loss nine cts vs profit 35 cts net loss 299000 vs profit 1025000 sales 9704000 vs 9659000 avg shrs 3792138 vs 2892138 year shr profit one ct vs profit 58 cts net profit 45000 vs profit 1705000 sales 254 mln vs 178 mln avg shrs 3567138 vs 2892138
the sources quoted miyazawa as saying japan is trying to prevent a further rise of the yen
rank said it did not exclude the possibility of making large as well as small acquisitions
usda forecast south african 1986 87 corn exports at 210 mln tonnes vs 300 mln tonnes last month and 1985 86 exports at 275 mln tonnes vs 275 mln tonnes last month
us agriculture secretary richard lyng told representatives of several of the largest grain exporting firms and two farm organizations that he was not in a position to comment on their request that the reagan administration offer subsidized wheat to the soviet union according to participants in todays meeting
it strengthens the dow said william lefevre analyst at advest inc
qtr ends april 30 shr loss 10 cts vs profit nine cts net loss 163465 vs profit 131815 revs 3672731 vs 3763829 nine mths shr profit four cts vs profit one ct net profit 57911 vs profit 11380 revs 11753950 vs 10794822
we also take into account other factors such as prices at which the goods and services are offered to india the trade official said
it added it had a two for one stock split in may 1986
banking sources said one option was to privately place the bonds through the caracas based banco de venezuela which would underwrite the issue but marcano said no decision has yet been made
boc group completes sale of unit to controls
dart has just under five pct of sgl shares
it suggested that resources idle in the us both human and in underutilised factories were not geared to produce the goods and services sought from abroad
the company also said that new capacity brought onstream last year replaced 120 pct of mobils production which declined by about four pct in 1986 from the previous year
rexham rxh repurchases stake from nortek ntk 
the middle east and the gulf in particular is now australias largest market for lamb chilled and flown in
chase has 32 billion dlrs of debt outstanding
in fact currency dealers said there was nothing in wednesdays g 7 communique to alter the prevailing view that the yen needs to rise further to redress the huge trade imbalance between the united states and japan
japans finance ministry will start issuing bonds with coupon payment of either march and september or june and december from april 1 matching futures delivery months
the us has offered warships to escort kuwaiti tankers in the gulf past iranian anti ship missile batteries defence department officials said
rotterdam grain handlers stage lightning strikes
lincoln foodservice linn completes purchase
the purchase valued at 148 mln dlrs follows the recent acquisition of londons johnson matthey commodities limited deak said
myra falls 1986 production was 44000 ounces of gold 966266 ounces of silver 455 mln pounds of copper 962 mln pounds of zinc and 777000 pounds of lead a company spokesman said
but justice had said in an earlier filing with the icc that it wanted the agency to move slowly on the plan and to turn down greyhounds request to begin operating trailways immediately
an underwriter familiar with the dow chemical deal pointed out that because of the interest rate and currency swaps dow did the issuer felt comfortable setting a rate floor
obviously we have a lot of movement in our stock and we need to get a clarification out the spokesman said adding that there was a 50 50 chance a statement would be released today
he said the ecs executive commission had accepted the governments view that epac should be eligible
that requirement excludes claims against independent petrochemical
within this sector the output of both basic products and of food tobacco and alcohol fell 1 1 2 pct
the agreement by the seven member association of tin producing countries atpc aimed to cut the world surplus and boost prices
we have to thread our way through a constellation of banks all of whom have different objectives he said in order to survive the philippines would have to try and stimulate new types of inflows whether this be direct investments whether this be investments by institutions that now have chosen not to lend but to invest or whether this be debt to equity conversions
hershey oil corp hso 4th qtr loss
the restructuring has improved hawkeyes financial condition but it does not assure that hawkeye will be able to survive as a going concern the report said
rudy boschwitz r minn cosponsor of the boren boschwitz decoupling plan said he supports a short term 0 92 program as a move to a more permament decoupling plan
the suits later consolidated into a single class action complaint before a pennsylvania federal court allege securities law violations involving numerous current and former allegheny officers and directors
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
indonesia has protested to the european community ec about its plan to raise import duties on vegetable oils which will affect the countrys palm oil exports to the ec trade minister rachmat saleh said
the pantherella board estimates the company which manufactures socks will show a 1986 pretax profit of about 690000 stg
a fiat spokesman contacted by said only that the report was one of the typical rumours which circulate on the bourse senior sources at the milan investment bank sige which il giornale said was involved in the planning along with mediobanca banca di credito finanziario spa and imi istituto mobiliare italiano said they were unaware of any such project
shr 47 cts vs 46 cts net 3470859 vs 3454577
he said this stemmed from mounting concern that cooperation among the group of seven g 7 industrial nations to implement the louvre accord to stabilise currencies might be fraying
the dollars break below the key 150 yen level ties the treasurys hands behind its back
the federal reserve is expected to take no reserve management action in the us government securities market during its usual intervention period economists said
currencies better reflect fundamentals baker
bangladesh petroleum corp said it floated an international tender for imports of two mln barrels of jet kero superior kero and high speed diesel for shipment during january june 1988
qtr ends dec 31 shr profit three cts vs loss three cts net profit 129000 vs loss 85000 revs 4001000 vs 4347000 avg shrs 3994347 vs 3769347 nine mths shr loss 75 cts vs profit 39 cts net loss 2900000 vs profit 1753000 revs 7472000 vs 153 mln avg shrs 3845438 vs 4470275 note net 1986 includes tax gain carryforward from discontinued operations of masters merchandise group in year prior
investments will be aimed mainly at developing the groups leisure industry health and communications activities monod said
the meeting is expected to go through early afternoon
the uk based commodity house ed and f
henry schroder wagg and co ltd said
the us department of agricultures forecast that french end of season soft wheat stocks will almost double in 1987 88 is premature but would not be surprising according to french cereal organisation officials
y dlrs per cwt 100 lbs
president reagan announced the planned tariffs on march 27 after he said that close monitoring of the july 1986 us japanese semiconductor pact convinced us officials that japan was not honoring the agreement
he said the company involved employed 4000 people but declined to name the takeover price or say what field the firm operated in
two affiliated new york investment firms and an investment advisor told the securities and exchange commission they have acquired 555057 shares of unicorp american corp or 51 pct of the total outstanding
fuel oil products were steady to firm on light demand and tight prompt supplies dealers said
the rains did no damage to maize sunflower and sorghum crops though fresh rains in similar volume could reduce yields and cut the total volume of this years harvest
silver state mining corp said it expects gold production this year to be more than double 1986s 17458 ounces
burlington sold its domestic operations which made sheets and other linens to jp stevens and co inc for 110 mln dlrs last year
the bond will be listed in luxembourg
the debentures are convertible into the companys common stock at 32625 dlrs a share representing a premium of 2311 pct over the stock price when terms on the debt were set
although the growth looks robust on the surface the figures in reality are not that good he said
ec foreign ministers meeting here issued a statement deploring japans continued trade imbalance and appealed for greater effort by the country to open its markets
marsh and mclennan cos inc mmc sets quarterly
aequitron medical inc said costs related to its previously announced plan to consolidate life products operations in boulder colo are expected to total 720000 dlrs or eight cts a share for the fourth quarter ending april 30
economists said tomorrows release of us auto sales for the first 10 days of march will be an important indicator of how much this sector will add to first quarter spending
analyst crossen said that cardizem which treats angina is also expected to be approved for the treatment of hypertension by the end of the year
union elections were called following the resignation of former president rodolfo seguel last october
oxford first corp ofc 4th qtr net
finance minister gustavo petricioli said todays signing of a 76 billion dlr new loan and rescheduling package for mexico was the most comprehensive and far reaching effort in debt management yet achieved for a sovereign borrower
caesars world inc in rejecting a 28 dlr a share takeover bid by new york investor martin sosnoff said it is considering alternatives that include a restructuring of the company and the sale to someone else
the two ports cannot in any way and in their present form handle the huge exports of zambian copper one western diplomat said
only kuwait has an official stock exchange while other gulf nations have yet to establish exchanges
central and south csr unit to redeem stock
assistant treasury secretary david mulford said rapid progress was being made in talks with commercial banks for loans to argentina the philippines and brazil
inter city gas corp 4th qtr shr 36 cts vs 68 cts
feldstein said he believed current third world debt problems were less serious than those faced by the international monetary system in 1983 and 1985
ivorian officials have only described this years coffee crop as normal
world oilseed stocks also are expected to fall in the course of the next season with the biggest reduction seen in soybean stocks which mielke expects to decline by 50 mln tonnes or by one fifth
although some farmers were saying they intended to cut back wheat area by 20 pct awf said this was unlikely since they needed cash flow and there were problems with alternative crops
output of home goods was up 03 pct in february and the fed said production of items like appliances and furniture continued strong last month
henderson also said that ici has about nine billion dlrs available for acquisitions
miyazawa says present yen not necessarily ideal
dionics inc dion year net
non callable for five years the issue is rated b 3 by moodys investors and b by standard and poors
the kaufhof spokesman noted any decision on purchasing shares in the shipping group would have to be approved by the supervisory board which is due to hold a meeting tomorrow
in a statement general partners said it has contributed 250 mln dlrs in equity financing and also has commitments for a one billion dlr credit line from wells fargo and co wfc and a 125 billion loan from shearson lehman brothers holdings inc a unit of american express co axp a gencorp spokesman said the companys management was meeting but that its board was not scheduled to meet today
the elimination of limits on daily price fluctuations for metals futures contracts traded on the commodity exchange comex appears to be having little effect on the market analysts said
genex corp said it has completed an agreement for eberstadt fleming venture capitals plant resources venture fund ii and morgenthaler venture partners ii and accounts managed by citicorp cci to provide it with a four mln dlr interim credit line
raise in brazil fcoj export prices not confirmed
certain difficulties have arisen this year in the machine building industry
at last weeks session the nigerian currency was fixed at 40 to the dollar the third fall in a row
it said about 13 cts per share of the first quarter amount will be taxable income
the latest forecast prepared by the national accounts and budget commission assumed an exchange rate of 620 francs to the dollar this year and next and an average oil import price rising to 189 dlrs a barrel next year from 174 dlrs this year and 147 in 1986
convergent technologies inc said it expects to report in the first quarter a loss more than twice the size of the 48 mln dlr loss reported in the fourth quarter of 1986
takashi ishihara chairman of the japan committee for economic development said the accord will not prevent the yen from rising further
united cities gas co said it placed privately on march 18 20 mln dlrs of 869 pct first mortgage bonds
uganda plans to export roasted coffee to europe
ohio power co a unit of american electric power co said it will redeem 344 mln dlrs of its first mortgage bonds on june one
spains tourism earnings continued to grow and totalled 655 mln dlrs in february compared with 103 mln dlrs in january and 502 mln dlrs in february last year
cocoa buffer differentials detailed
boards cannot expect protection from unwelcome predators for that is but a short step from saying that they should be protected from their own shareholders who are after all the proprietors of the company leigh pemberton said
maciej said he sees crude oil supply outweighing demand and doesnt believe a recent opec production accord will continue to support prices
he said ec commission president jacques delors would report to the meeting on problems raised by plans to liberalise capital movements fully within the 12 nation bloc by 1992 such as the need for harmonising taxes and banking controls
balances in tax and loan note accounts fell to 11645 billion dlrs from 11869 billion dlrs on the same respective days
earlier today general partners said it was prepared to raise its bid to 110 dlrs per share or even more in its bid for gencorp
kaufel group ltd kglm 3rd qtr net
officials said they hope to persuade reluctant countries to release the study soon perhaps coinciding with the oecd ministerial meeting in paris during may
jones and vining inc said vulcan corp one of its main competitors in the production of shoe lasts has offered to acquire jones and vining for five dlrs a share
at a meeting this week in paris senior government officials from major nations are considering an organisation for economic cooperation and development oecd staff report that forecasts a continuing large japanese trade surplus they said
the communciation was sent through switzerland which represents american interests in iran
electro rent corp elrc 3rd qtr feb 28 net
each note will bear interest at a fixed rate or variable rate formula established at the time of issuance society for savings said
nova the canadian company that owns 56 pct of husky oil ltd said it received government approval for a transaction under which union faith canada holding ltd would buy a 43 pct stake in husky
the company named morgan stanley and co inc as lead underwriter of the offering
traders said the soviet union might be looking to buy more sugar in the near term possibly towards an overall requirement this year of around two mln tonnes
the firms boston based fmr corp and bermuda based fidelity international ltd said they bought a combined 103000 orient express common shares from march 12 to april 8 at prices ranging from 305 to 355 dlrs each
the unit will use part of the proceeds from the recent sale of units of petrolane partners lp to finance the early redemptions
but experience has shown that strong monetary growth eventually leads to a price rise which undoes the beneficial effects of monetary policy
general electric cos ge credit corp said it agreed to buy all of the capital stock of kraft incs wholly owned subsidiary d and k financial corp
m
kahn said he indicated in a filing with the securities and exchange commission that his group bought an additional 7300 trans lux common shares and 100000 dlrs of nine pct convertible subordinated debentures due 2005 convertible into an additional 6803 shares
nova an alberta corp 4th qtr loss
ida the world bank arm that makes interest free loans to the poorest nations said the credit will support changes designed to raise farm income by boosting production developing better crop varieties and improving farm systems
the company said it has started a number of long term growth projects which have a payback period exceeding one year
as a result the bundesbank was concerned to make no move that would interfere in the negotiating process geipel said
it said it does not expect more than 400000 warrants to be converted over the next 12 months
de zeeuw goes to canada later this week
no comment was immediately available from the employers organization
pennzoil pzl willing to settle texaco tx lawsuit
sierracin corp said it completed the repayment of its entire 14 mln dlr bank debt and entered a new unsecured revolving credit term loan agreement
fed governor seger sees currency stability
safety kleen corp said it completed the acquisition of an 80 pct interest in breslube enterprises for about 12 mln dlrs in stock and cash
in 1986 mitek reported sales of five mln dlrs and a net profit of 14000 dlrs
figures released earlier this week showed retail sales in january fell 22 pct mainly due to exceptionally cold weather
bzw said its parent barclays bank had subsidiary companies active on the stock exchanges of zurich milan and paris which bzw planned to use to strengthen its presence in continental europe
regie nationale des usines renault renapa said it and chrysler corp c have signed a letter of intent in which chrysler plans to buy american motors corp amon 46 pct owned by renault
brazil treasury to release coffee buying funds
south africa optimistic about debt talks
sellers quoted a nominal offering level of 320 dlrs per tonne c and f north german ports
exercise price for the warrants has been fixed at yen 2817 representing a 253 pct premium over the latest tokyo close adjusted for a free share issue this month
the european community ec has warned the us house of representatives that tough trade legislation it is considering could prompt retaliation by us trading partners
ec ministers extend beef milk marketing years
the situation in the refineries was calm it said and the employees had indicated their willingness to negotiate a pay deal
qtly dividend 12 1 2 cts vs 12 1 2 cts pay march 31 record march 16
as part of the agreement blue arrow said the four principal shareholders who manage richards will enter into long term service contracts with it
dart said it will not solicit authorization to call a meeting of dayton hudson shareholders
guinness says its former chairman ernest saunders and ward breached their fiduciary duty in authorising the payment to ward via a jersey based company marketing and acquisitions consultants and has gone to the jersey court to recover it
in a speech to shareholders leutwiler said a gradually rising rate for the mark in relation to the franc would be desirable from the standpoint of industrial exports and with regard to sustaining swiss industry simply an appropriate declaration of intent by our bank of issue swiss national bank could have a positive effect he said
ducommun said the sale coupled with its sale last month of metermaster were steps taken to improve the companys balance sheet and that no further sales are being contemplated
he added that the governments cut in its top income tax rate to 53 pct from 56 pct in 1988 would make it difficult for the government to reduce borrowings
the department said it has suspended net business formation from the leading indicators index because it has deteriorated as a measure of change in the business population
he said that if china wants to obtain gsp status it will have to lobby congress itself to persaude it to amend several laws which currently prevent peking getting such status
this struggle between the companies and opec is the ultimate game of chicken but it will be resolved relatively soon
in most cases the government has allowed the companies to maintain the oversubscribed amount brokers said
he also said the transaction could be financed through a debt issue or conventional financing from investors
he said if canada proposes an agreement where both countries get rid of six methods of trade restriction it would not be fair and might not win senate approval
mars store mxxx sees qtr year loss and charge
the rationalisation programme including sale of the bahamas oil terminal and all peripheral activities is now complete
boral said the notes will be convertible into ordinary shares on a one for one basis on the same dates in 1989 1990 and 1991 and 1992
the traders said another factor leading to lower crop predictions is that many farmers are not caring properly for plantations because of low returns on their investment
key us house trade subcommittee approves bill to toughen us trade laws
spethmann made no comment on 1986 87 group earnings
the european investment bank is planning a 300 mln guilder 625 pct bullet bond due 1995 lead manager amsterdam rotterdam bank nv said
the company today reported a profit for the first half ended january 31 of 105013 dlrs compared with a year earlier loss of 745641 dlrs on sales of 3661565 dlrs up from 2810132 dlrs
money supply grew faster in january because the central bank issued more currency for bonus payments made to workers at the lunar new year which fell on january 29 this year banking sources said
miti is expected to lower the projection for primary energy supplies in the year 2000 to 550 mln kilolitres kl from 600 mln they said
combined with the increase in hours worked this means well get a pretty healthy gain in personal income vis a vis the wage and salary disbursement he said
primark corp pmk regular dividend
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
as a result of the merger the former shareholders of scan graphics will become the majority shareholders of captive venture capital
the bank also set a lira mark rate of 41720 41929 to the mark up from the previous 41915 42125
capitol said to maintain an adequate capital ratio it will seek additional equity capital in the near future
the utility on march 17 offered to exchange its 15 pct first mortgage bonds due march 1 1994 for a new series of first mortgage bonds 9 1 4 pct due april 1 1997
the figures reflected a radical split in the health of banks in the two halves of the country the fdic said
icahn led twa was highly conditional usair said its board and that of piedmont aviation inc pie met separately yesterday to consider usairs offer to acquire 501 pct of piedmont for 71 dlrs per share and remaining shares for 15 to 19 common shares each valued at about 73 dlrs per share based on the average closing price of usair common during a period just before the merger
also participating in the agreement was banner industries inc which previously agreed to acquire rexnord
the statement said a meeting between petrobras and oil industry leaders was set for next wednesday in rio with the presence of labour minister almir pazzionotto as a mediator
chemlawn said its board asked management and its financial advisor smith barney harris upham and co inc to seek other purchasers of the company to maximize shareholder value
it also said it was raising its quarterly cash dividend 16 pct to 32 cts per share from 275 cts per share prior
bangladesh recorded an overall balance of payments deficit of 83 mln us dlrs in october against a 1033 mln deficit in september and a 667 mln surplus in october 1985 central bank officials said
pdvsa and union pacific will each contribute half the capital required by the venture and arrange a revolving credit facility with us and foreign banks to finance inventories and receivables union pacific said
wichita presently has about 36 mln shares outstanding
imperial oil imoa in talks with suppliers
xerox said completion of the sale awaits approval of fintech shareholders and a review by the johannesburg stock exchange
the fed funds rate was extremely volatile today reflecting demand pressure associated with the end of the quarter and the close of the japanese fiscal year
goldman sachs and co privately placed the debt with a group of institutional lenders the company said
severel vessels were booked from antwerp hamburg range including a 61000 tonner bound for singapore japan at 7500 dlrs daily and a 16000 tonner destined for west coast india at 5000 dlrs
the bill sponsored by senate energy committee chairman bennett johnston also repeals mandatory incremental pricing of natural gas which was designed to protect residential consumers from major price increases by forcing some industrial users to pay higher than market prices
but others said the new contract would soon attract trading interest given that much 9970 metal has already been attracted to the lmes warehouses by backwardations
he said that the japanese were resisting allowing us companies into the giant computer business while at the same time attempting to acquire control of a us company that does major computer business in the us market
the alternatives are between an autumn london conference for another pact without economic clauses but a different voting and budgetary structure or a geneva based conference next year for a new pact with economic clauses he said
debenture holders were entitled to convert their debentures into shares of the companys common stock at a 2250 dlrs per share or 44 4 9 shares of common stock per 1000 dlrs principal amount of debentures
it affirmed bakers prime 2 commercial paper
the issue is priced to yield 50 basis points over comparable maturity gilts
payment of the stock dividend increases cistrons outstanding common stock to 21390190 shares from 16185354 shares
m corp inc year dec 28 net
last month the ministry asked japanese chip makers to reduce first quarter output by 10 pct
kirin brewery co ltd knbwt year to january 31
the cereals intervention board onic wheat producers association and the national union of agricultural and cereal cooperatives have not yet forecast 1987 88 exports or end of season stocks
gillette canada inc is issuing a 70 mln stg bond due october 30 1993 carrying a coupon of 9 5 8 pct and priced at 101 1 2 morgan stanley ltd said as lead manager
li said the decision to spin off cavendish is to relieve hongkong electric of public criticism of the power company for making risky investments
the state must set an example by keeping wage increases below the inflation rate he said
however the dean witter economist noted that the latest two week period included a quarter end when seasonal demand often pushes up borrrowings
the central bank of kenya set the shilling at 207449 to the sdr compared with the 206226 rate in force since the last devaluation on march 31
even if you look at january and february together this is still a much stronger report than the consensus expectation in the market said allan leslie of discount corporation
it added the increased availability of foreign exchange for imports is expected to help the expansion of industrial output and exports
for its part opec has moved to win this game by cutting excess supplies from the market by a reduction of its own output traders said
from 38 pct in february only 31 pct of firms now expect prices to rise before july
baker says us not seeking iadb veto
if approved by shareholders brokers choice will issue about 71 mln shares of authorized but unissued shares of restricted common stock to rubbertech inc
oper shr profit two cts vs loss 19 cts oper net profit 523000 vs loss 2191000 revs 1025 mln vs 399 mln avg shrs 200 mln vs 111 mln year oper shr profit 11 cts vs loss 29 cts oper net profit 2240000 vs loss 2884000 revs 3044 mln vs 503 mln avg shrs 194 mln vs 9759000 note 1986 4th qtr and year oper net excludes a gain of 492000 dlrs and 1241000 dlrs respectively for carryforwards and a loss of 135000 dlrs and 533000 dlrs respectively for early extinguishment of debt
sumita welcomes us west german joint confirmation of louvre accord
but economists say members such as west germany have so far blocked a second stage of development envisaged by the systems founding fathers ex west german chancellor helmut schmidt and former french president valery giscard destaing
it said in a statement the terms of the offer will be 13 new rank hovis shares for every five avana ordinary shares valuing each avana share at 829p
the imf last year approved a 22 month loan package for zaire totaling 270 mln dlrs
wessberg said the new method cut the number of unemployed by about 16 pct
by this friday sources estimated a further 233600 tonnes of cereals will have been loaded comprising 47000 tonnes of barley 78600 of wheat and 25000 of rapeseed for the soviet union 30000 of wheat for sri lanka 28000 of wheat for china and 25000 of wheat for poland
rr donnelly dny to sell cable system
saudi arabia is brazils second biggest oil supplier with an average 115000 bpd
convenient food mart inc said it has tentatively agreed to buy all the outstanding stock of plaid pantries inc and two associated businesses in oregon and washington for undisclosed terms
shr profit five cts vs profit two cts net profit 325000 vs profit 105000 revs 195 mln vs 161 mln six mths shr profit nine cts vs loss 35 cts net profit 627000 vs loss 2280000 revs 369 mln vs 274 mln
im quite optimistic about carrying out a serious and quick negotiation treasury secretary mario brodersohn said on return from talks in new york with leading us and world financial officials
dollar hits record low of 14978 yen tokyo dealers
he added that some of the discussions with other parties about dome included transcanada pipelines ltd trp but refused to name the other participants
but munim said exports of non traditional items which accounted for over 40 pct of total exports this year would play a key role in achieving the 1987 88 export target
the study was outlined in a new york times report today
we have to be patient for two or three weeks
imports of decaffeinated unroasted coffee were 396 tonnes against nil a year earlier
the caesars world official suggested various forms of payment for sosnoffs stake including other securities of the company and cash he said
michaels stores inc said march sales were up 192 pct to 7823000 dlrs from 6564000 dlrs a year earlier with same store sales up 27 pct
congress may curb us aid to development banks
today the canadian bank rate fell to 728 pct from 754 pct last week and the canadian imperial bank of commerce cut its prime rate effective tomorrow to 875 pct from 925 pct
singapore welcomes new lme aluminium contract move
caterpillars stock was down 1 2 points at 46 1 4
but after reviewing todays figures he said its fair to say that the fed may be moving toward a slightly less accommodative reserve posture leeds expects fed funds to trade between 6 1 4 and 6 3 8 pct and said the fed is unlikely to raise the discount rate unless the dollars fall gathers pace
dixons boosts cyclops cyl ownership to 83 pct
standard chartered plc stchl 1986 year
aaron rents inc arono year net
van horick who is a council member of the european coffee federation was speaking at the end of the ecf annual meeting
the meal was worth 735 mln dlrs
rain will accompany the strong winds that are expected over the north sea today into tonight
the council said the chief us concerns included ending curbs against us banking insurance telecommunications and the so called cultural industries publishing broadcasting and films
yugoslavias balance of payments surplus with the convertible currency area fell to 245 mln dlrs in 1986 from 344 mln in 1985
he declined to give further details
speaking to a house agriculture appropriations subcommittee amstutz cited three factors which have improved the wheat outlook
transfer to trades union holding co 80 mln marks vs 80 mln
larner said claims from passengers could be expected to total at least five mln stg given the number of deaths and the normal level of liability set by the athens convention of 1974 of between 30000 stg and 50000 in case of death
amax zinc co raises dyecast alloy prices
us treasury sets date for new strips measure
benson pleaded guilty to charges of conspiracy tax evasion filing false corporate tax returns and defrauding the companys shareholders
companies mentioned in market speculation as potential buyers for dome include imperial oil ltd imoa which is 70 pct owned by exxon corp xonn pancanadian petroleum ltd which is 87 pct owned by the conglomerate canadian pacific ltd cpn and british petroleum co plc bpl along with the transcanada offer dome has had another proposal from a substantial company and discussions with a third company which could lead to an offer dome said in a statement
china can further develop its foreign trade system so as to gain the maximum benefit from its gatt participation he said
washingtons deficit with taipei rose to a record 136 billion us dlrs last year from 102 billion in 1985
nova wins government okay for husky hyo deal
we hope this will lead to a long term export market for us lumber products he said the contract calls for supplying 21 mln board feet to 30 mln board feet of softwood lumber for housing construction and furniture manufacturing
japan denied breaking a pact with the us on semiconductor trade but said prices set out in the pact were too high and acknowledged difficulties in implementing the accord
he adds and when your hear they should have market forces at play that means the level of public services should drop it had been hoped that giving the world bank a greater role in the debt strategy might defuse the growing resistance in the debtor countries to measures that increased already prevalent poverty even further
shr profit 10 cts vs loss 220 dlrs net profit 687000 vs loss 145 mln sales 683 mln vs 548 mln avg shrs 7018000 vs 6577000 1st half shr profit 38 cts vs loss 195 dlrs net profit 2596000 vs loss 128 mln sales 1299 mln vs 1133 mln avg shrs 6964000 vs 6568000
gaspar estimates earnings per share for schlumberger at 25 cts for 1987 and one to 175 dlrs in 1988 compared with 20 cts in 1986 excluding a fourth quarter special charge of 187 billion dlrs
the sources said house banking and foreign affairs leaders also attended the discussions
full name westworld community healthcare inc
export duty on crude palm oil cpo rose to 3830 ringgit per tonne from 1606 last month
the yield on the bills for sales to banks and securities houses from money houses will be 39497 pct against the 39375 pct discount rate for two month commercial bills and the 443 32 pct yield on two month certificates of deposit today
revenues were 37 mln dlrs
heavy rains fell again in argentinas main grain growing areas in the week to yesterday trade sources said
sosnoff ends pratt prat southmark sm deal
its getting to be like communism said one
a source close to the kadoorie family said the family has not considered any countermoves so far
investors in industry issues french franc bond
mayfair super markets myfra sales increased
mitsubishi electric corp miett will trim second quarter output by about 10 pct to between 55 mln to 56 mln chips compared to the first quarter
miti plans to take further steps to reduce the excess supply of inexpensive chips which developed in japan after the pact was formed because of a slump in japanese semiconductor exports to the united states he added
k mart km raises payout votes split
bankers say it is too early to venture a forecast for economic growth this year or next
a free trade pact between the united states and canada could spur the economies of both sides substantially according to a study released by the institute for international economics
rochester telephone corp said it completed its acquisition of the enterprise telephone co based in new holland pa in exchange for stock valued at 263 mln dlrs
normal work has resumed at new zealand ports as negotiations between harbour board workers and employers continue
however senior vice president of finance daniel miglio told a meeting of analysts that there was some uncertainty in its earnings outlook because snet is currently involved in negotiations with state regulators on its rate of return on equity which currently stands at 162 pct
northern 1 was loaded with 3000 tons of sugar from demerara
the indonesian government said crude palm oil cpo output is expected to rise to 156 mln tonnes in 1987 and 211 mln in 1988 up from a projected 145 mln tonnes in 1986 and 126 mln in 1985
the coupon on the bank of tokyo ltds 100 mln swiss franc convertible has been cut to 7 8 pct from the indicated 1 1 4 pct lead manager swiss bank corp said
armtek arm sells tire truck tire business
members of the mission met today with officials from the ministrys public finance department
debt among african countries will continue to grow and their economies remain stifled unless developed countries lower their interest rates nigerian trade minister samaila mamman said
info data said it plans to change its name to usa outdoor advertising inc to reflect the change in the companys operations
the problem lies in reconciling saudi arabias western style banking system and an islamic sharia legal system in which interest payments may be viewed as usury and illegal
vista organization ltd visa year net
northwest pipeline corp issues also were upgraded
the official who declined to be identified said orion the merchant banking arm of royal bank of canada had operated profitably in the market from 1984 to date
student loan marketing association slm 1st qtr
oecd urges action to cut us budget deficit
interest surplus 8979 mln marks vs 9811 mln
springs industries inc smi 3rd qtr oct three
restrictions on investments by japanese residents have also inhibited the growth of the futures contracts in both singapore and sydney the banking sources said
the official forecasting agency centraal planbureau cpb publishes its 1987 outlook at the start of a week which will also see a key parliamentary debate on government finances and the economy
houston based shell oil co a unit of royal dutch shell group rd has been one of the most active companies in buying and selling reserves smith said
the subcommittee also called for the administration to consider retaliation against japan for its restrictive government procurement practices
qtly div 10 cts vs 10 cts prior pay april 15 record march 30
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 338 mln stg while bankers balances below target will take out around 25 mln stg
the bank estimated todays liquidity shortage at about 110 billion stg
copley properties inc cop 4th qtr net
motts super markets inc msm 4th qtr jan 3
the company said prices to distributors and direct customers on shipments of new orders placed march 4 and after will be increased by four to eight cts per lb
but it held over for the full ways and means committee debate on a controversial plan by rep
the 65 kresge stores that are scattered around the country in downtown and suburban locations he said
dividends on the shares will stop accruing on and after their redemption date as well stone container said
this weeks economic calendar begins on tuesday with february durable goods orders
belgian transport minister herman de croo said there was no hope of rescuing any of about 220 passengers trapped in the herald of free enterprise after it capsized off the belgian coast last night
he said producers have already delivered 22 mln bags of which 15 mln bags have been paid for
avana shares traded at 800p after the announcement 32p up from last nights close of 768p
bp says no plans to close swedish refinery
1985 4th qtr includes loss of 79395 dlrs from discontinued operations
iran warns us not to intervene in the gulf
at the havana meeting delegates from latin america asia and africa will attempt to hammer out a common position for presentation at unctads annal meeting next july in geneva
since then market speculation has centered on amoco and exxon corps xon 70 pct owned imperial oil ltd subsidiary in canada
gencorp said lower operating profits for the tire and plastics and industrial products segments were essentially offset by higher wallcovering results
a company spokesman said the mines monthly output is expected to consist of 1300 tonnes of gold ore and 3700 of black ore which consists of copper lead and zinc ores
he told a press conference before leaving for tokyo that indonesias rising debt service ratio was a problem and cause for concern
the company said the divestiture follows a resolution of its board in february that cited increased political and social unrest within south africa and the refusal of the south african government to abolish the apartheid system
the latter two changes would make it harder for minority shareholders to elect directors
keppel raises bond issue to 75 mln dlrs
but the contracts call for the lower takes to be made up during the course of the year mitchell energy said
environmental power corp powr year net
goodrich said it will continue to make chemicals and adhesives in akron employing about 356
depending on how the negotiations go on the terms of chinas gatt membership yeutter said he could put the final touches on the us part of the agreement during his trip
in the second quarter last year merchants reported net income of 62 mln dlrs or 68 cts a share
the company said the terms of the sale have been approved by its board and by prime motor inns inc pdq owner of about 84 pct of universals outstanding stock
a reduction in the us current account deficit would occur only if the growth rate of gnp was higher than domestic demand
schenker said costs of the companys merchandise will not increase
the issue price was set at 10175 pct
grain analysts said the increase of three mln tonnes in 1986 87 soviet grain imports is unlikely to affect the market tuesday
a klm spokeswoman said the dutch flag carrier would now offer a minority stake in xp to british and commonwealth in the negotiations on iml but declined to elaborate on financial aspects of the talks
allied supermarkets asu files for offering 
yeutter said earlier the three most contentious trade issues were semiconductors japanese government unwillingness to allow public entities to buy us super computers and the barring of us firms from the eight billion us dlr kansai airport project near osaka
the latest gold price in zurich was 2045 2070 francs per 100 grammes
revenue for 1986 periods reflects reclassification of revenue of divested sperry operations to other income with no effect on net income
the payment date is may 6
money market sources were divided as to whether they thought the bank of france would use the occasion to cut its intervention rate which has stood at 7 3 4 pct since it was cut from eight pct on march 9
it said the discovery well there encountered 46 feet of net natural gas pay
the officials said the commission is not negotiating with producers who have offered a total of 854000 tonnes of sugar for sale into intervention in an apparent attempt to persuade it to offer higher rebates
yesterday panteras stock closed at 950 dlrs on nasdaq while pizza inns stock was quoted at 12 dlrs when the amex halted trading pending the announcement of the proposed merger
underlying upward pressure on prices is stronger in britain than in most other western economies with inflation seen rising well above four pct this year and above five pct in 1988 after last years 37 pct
our marketing policy is to sell without haste but consistently
the february trading period comprised the four weeks february 1 to 28
shr 10 cts vs seven cts net 249143 vs 175476 sales 3034010 vs 2745288
we told them we would give them help and we are waiting to hear the kuwaiti response to our offer one official said
this buoyancy is generally attributed by traders to the low level of lme stocks and steady if unspectacular physical demand in the northern hemisphere finding supplies curtailed
ciba geigy phillips petroleum in joint venture
this compares with a 380 dlr cash element in csrs proposed bid
were dead and its the government thats causing us to die declared lucien felix 34 who has five dependents
baker filed a lawsuit in texas state court late yesterday to force hughes to abide by terms of the proposed consent decree
cocoa buffer stock rules to take effect immediately delegates
3rd qtr feb 28 shr profit 14 cts vs loss four cts net profit 311994 vs loss 66858 revs 2229273 vs 645753 nine mths shr profit 51 cts vs profit two cts net profit 1126673 vs profit 42718 revs 7277340 vs 1378372
american express up on rumors 10 pct of shearson to be sold to japanese firm traders say
meanwhile acquisition of marine savings and loan association of florida with four offices in naples fla is awaiting regulatory approval
cargill uk strike talks postponed till monday
they said the below six pct federal funds rate suggests the fed does not have a large reserve adding need
us to set orange juice duties monday
production of auto assemblies rose to an annual rate of 83 mln units last month from a january rate of 75 mln units
chemical bank london branch will act as issuing and paying agent
at midnight yesterday 7242117 princeville shares had been tendered up from 5887165 shares 24 hours earlier
that selling largely came to an end this morning after about one hour of trading here the senior official said
sonatrach is currently negotiating with two of its former customers panhandle eastern pel and distrigas a subsidiary of cabot corp cbt to resume lng export company officials told 
the way he is operating at the moment is doing almost nothing to support the market
american express axp viewing shearson options
aep industries inc aepi 1st qtr jan 31 net
shr 23 cts vs 15 cts net 2641000 vs 1295000 revs 156 mln vs 7925000 avg shrs 116 mln vs 8900000 nine mths shr 65 cts vs 37 cts net 6805000 vs 3308000 revs 427 mln vs 206 mln avg shrs 105 mln vs 8900000
hokkaido takushoku bank ltd is issuing a 100 mln dlr convertible eurobond due march 31 2002 paying an indicated coupon of two pct lead managed by takugin international bookrunner yamaichi international ltd said
ccr video 1st qtr nov 30 net
revlon rev and macandrews and forbes to merge
diplomatic sources in lusaka had earlier expressed doubts over zambias ability to ship all its copper through beira and dar es salaam without causing massive bottlenecks at the ports
cotton prices are almost twice what they were just six months ago which should prompt many farmers in the south to put soybean land back into cotton
zambias copper mining industry is hoping to achieve and maintain production at over 500000 tonnes a year in the next few years despite low world prices deteriorating ores and shortages of mine inputs industry officials said
crude oil netbacks up in us mediterranean
total loans and advances rose 13 pct to 52374 billion dlrs from january when they were up 33 pct
corrects year of loss in third paragraph in item which originally ran february 27
conrac has no rated debt
the shake up would strengthen the us position in future international talks
ongpin said the first tranche of 100 mln dlrs was expected within a month
ual parent of united airlines closed up 6 1 4 at 72 on volume of 39 mln shares
recent estimates put these costs at 40 billion european currency units and by 1990 they would rise by another 20 billion ecus he said
pat roberts r kan yesterday went so far as to predict a subsidy offer would be made within the next ten days to two weeks
however underwriters away from the bear stearns syndicate said the issue may have sold even faster if prudential bache did not offer the general electric credit notes on friday
the six month yield was set at seven pct
we pointed out to them that in the last two years brazil paid 24 billion dlrs just in interest rates while only receiving two billion dlrs in new loans over a similar period gros reiterated that brazil will not accept interference from the international monetary fund imf as creditors suggested
perelman needed the consent because he agreed in november not to buy stock for 10 years without permission
budget chief miller warns fed on interest rates
our intention is not to continue being net exporters of capital but to protect our balance of payments with a flow of capital towards venezuela he said
this was in line with earlier forecasts of profit of between 770 and 800 mln francs
central banks have sufficient experience of exchange market transactions to steer exchange rates where they want to have them he said
us thrifts cut liabilities in january
taft said the purchase price was 240 mln dlrs as previously announced
poland has a 335 billion dollar debt to western creditor countries and commercial banks and has already indicated it will not be able to meet interest payments this year after falling behind for the past two years
the company said it experienced revenue growth across all product lines during the quarter
proceeds will be used to repay existing debt with the balance to be used in its acquisition program and for additional working capital the company said
the companys other major subsidiaries are pet inc pepsi cola general bottlers midas international corp and hussmann corp
ibm said net income fell to 785 mln dlrs or 130 dlrs a share from 102 billion dlrs or 165 dlrs on about 18 pct fewer shares outstanding
last year the company earned 70 cts a share
saga petroleum said it has applied for a 35 pct share and operatorship on one block adding finnish oil company neste neoyhe 25 pct spains hispanoil 25 pct and the world banks international finance corporation ifs 15 pct have joined saga to fill remaining shares in the application
the treasury 13 1 2 pct stock due 2004 08 closed 1 7 16 point lower at 135 20 32 stg pct while the treasury 10 pct due 1991 ended at 105 12 32 for a fall of 1 3 16
in march 1986 the figure was 725000
turner and newall plc said it planned to raise a net 717 mln stg with a one for six rights issue of 3615 mln shares
aqazadeh arrived last night after a brief stopover in riyadh where he met saudi arabias oil minister hisham nazir
three japanese credit rating agencies are entering into fierce competition with moodys japan kk and standard and poors asia inc the local branches of the two us giants as the japanese credit market opens up to foreigners japanese rating agency managers said
short dated saudi riyal interest rates firmed but other rates were steady in quiet trading dealers said
about 14000 of brazils 40000 seamen are now back at work after pay accords with 21 shipping companies but the rest are still on strike a spokesman at strike headquarters said today
the bundesbank spokesman noted that by bidding only 122 billion marks below the outgoing 149 billion banks themselves had shown they felt they had plenty of liquidity
the only other foreign firm to manage an offering in the us market is nomura securities international inc which won as sole underwriter a competitive issue in december 1986
the renegotiation conference under the auspices of the un conference on trade and development unctad is the fourth such meeting in two years
house leaders have rejected a plan by textile state legislators to add to the trade bill a provision to curb imports of cloth and clothing similar to a measure passed two years ago but vetoed by president reagan
the certificates will be sold through an uncommitted tender panel but the facility will be fully underwritten for five years by a syndicate of banks formed by bzw
ft se 100 index futures volume was sharply higher during february with 22109 contracts trading against januarys 15279 and the year ago level of 8181
the treasury would not comment on the bank of englands market operations but currency traders reported moderate bank of england intervention to curb upward pressure on the pound today
phillip seng asian director of the us meat export federation told the two pct cut in prices is a step toward closing the gap with european community prices about half those in japan
flour exports through rouen rose to 23457 tonnes in the 25 day period from 5500 in the equivalent 1986 period the sources said
other strains have intensified between us and non us banks partly because us regulations and accounting rules discourage writedowns
he told the house appropriations committee that there is every prospect that the current expansion will continue unabated through 1987 and the years beyond baker said interest rates over the period have continued to decline and that policies of the federal reserve assure that ample credit was available
it said the parties have until june 29 to agree to all terms of the letter of intent
moodys investors service inc said it is reviewing the b 2 debt ratings of resorts international inc and of resorts international financing inc for possible downgrade
qtr ends september 30 shr 25 cts vs 13 cts net 759000 vs 383000 revs 9052000 vs 6829000
biosearch medical products inc bpmi 4th qtr
its other key sectors are merchant banking oil and china
gencorp also said it is developing a financially superior alternative that would enable shareholders to benefit from the full value of the company
in order to receive the distribution beneficiaries must surrender the certificates representing their beneficial interests
revenue would provide 4884 billion shillings leaving a deficit of 2849 billion to be financed through domestic and foreign loans
echo bay mines ltd said it discovered a gold deposit in the cove area near its mccoy gold mine in nevada
the agreement is subject to shareholder and regulatory approval
gm gm to idle six plants 21600 workers
m 3 is deposits of the private sector held by trading and savings banks plus holdings of notes and coins
standard products co spd 1st qtr sept 30 net
however an accident to the rail ferry which plies between the ugandan lake port of jinja and kisumu in kenya put it out of action between february 21 and march 15 causing fresh delays in cargo movements
the el universal and el nacional papers said anzola would leave his position soon
under manilas plan the pins would be redeemable at full face value in philippine pesos to fund local equity investments at any time prior to their six year maturity date
february imports rose to 1394 billion from 1235 billion in january against 1567 billion in february 1986
the merger agreement was announced earlier this week
ccl unit acquires nestle canada can operations
pan am also said its principal subsidiary pan american world airways had a 1986 net loss of 4693 mln dlrs compared with a profit of 387 mln dlrs in 1985 which included a gain of 341 mln dlrs for the sale of its pacific division
champions board will be expanded to include two or three independent persons suggested by echlin it said
but other banks said they had seen no sign of intervention which they said appeared to be on a very limited scale
alcan aluminium ltd is closing its aluminum smelter in ludwigshafen west germany this june due to high operating costs an alcan spokesman said
it was the second half of the two week bank statement period that ended on wednesday
oper shr loss 105 dlrs vs profit nine cts oper net loss 305 mln vs profit 3930000 revs 239 mln vs 456 mln 12 mths oper shr loss 530 dlrs vs profit 34 cts oper net loss 1558 mln vs profit 160 mln revs 1137 mln vs 1788 mln note oper excludes loss from discontinued operations of 9127000 dlrs vs 124 mln dlrs for qtr and 284 mln dlrs vs 960000 dlrs for 12 mths
analysts said the small amount raised on the last issue was because it was a return to a split maturity issue seen as only attractive to domestic institutions from bullet loans
its total assets at the end of 1986 were about 12 mln dlrs
dominion textile which reported operating profit of 111 mln canadian dlrs last year on sales of 9265 mln dlrs has repeatedly said it will concentrate on expanding into the us the company has said it plans to diversify into new product and market areas in addition to expanding its textile operations
vbi which is based in turks and caicos islands the british west indies said it bought the additional shares between feb 24 and march 4
the reference price currently 20166 malaysian singapore cts per kilo will be maintained unless between now and october 22 when the 1979 inra expires the average of the daily market indicator price remains above the upper intervention may sell price 231 cts or below the lower intervention may buy price 171 cts for six months
the plan envisages giving incentives to importers not to import japanese goods and to exporters to sell more to japan
cominco lead zinc union rejects contract
but seipp said last year the figure for the first time had topped one billion marks for the parent bank and the group result was around 50 pct higher than this
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
wesco financial corp wsc 4th qtr net
japanese crushers have bought some 214000 tonnes of brazilian soybeans for late april early july shipment and may buy up to 140000 to 190000 tonnes more for june to august shipment trade sources said
heavy enrollment of non base acreage in wheat states of which a big percentage would be fallow and non soybean land accounted for a large portion of the non program acreage the analyst said
the dollars fall was also prompted by a record one day drop in the dow jones industrial average on friday and weakness in us bond prices dealers said
sun chemical refused to sell its entire business after learning that dainippon planned to liquidate all but its graphic arts related businesses
that estimate according to a cbo official was based on an assumption that certificates cost the government about 15 pct more than cash payments
baker said it would be necessary for other countries to adjust their currencies upwards as well as remove their barriers to us imports
the company said it also agreed to sell to the two underwriters two mln 184375 dlr series four cumulative redeemable retractable preferred shares which will be resold privately
the us government also feels it has a good case to fight the proposed tax in the general agreement on tariffs and trade gatt a us embassy spokesman said
mexican state oil firm petroleos mexicanos pemex signed for a 500 mln dlr27untied loan from the export import bank of japan to finance its pacific petroleum project pemex japan representative tito ayal said
atcor inc said the magnitude of any earnings recovery in fiscal 1987 depends on the direction of steel pricing and how fast the companys severe operating problems in its consumer segment are resolved
venezuela will back ecuadors bid to raise its opec quota above 221000 barrels per day bpd because it is a justifiable demand venezuelan energy minister arturo hernandez grisanti said on monday
frank naylor chairman of the farm credit administration fca which regulates the farm credit system yesterday said a farm loan secondary market would be positive for agriculture as long as the farm credit system is a key player naylor told a house agriculture subcommittee hearing the secondary market could be established either with congressional legislation or administratively
he added for us investors the cds are attractive because they are domestically issued paper with competitive rates offered by aaa rated japanese banks balaban noted that several fiduciary investors and money market funds which had never previously purchased japanese bank paper submitted bids during yesterdays sale
medium term notes mtns have met with staggering success in the us market where total outstandings have grown to around 50 billion dlrs since 1983 the year they took hold as a new financing vehicle to bridge the gap between commercial paper and longer term bonds
reporting members of the national soybean processors association nspa crushed 19416000 bushels of soybeans in the week ended april 8 compared with 20115000 bushels in the previous week and 17160000 in the year ago week the association said
continued international currency turbulence could undermine plans for reinforcing the european monetary system the joint float holding eight ec currencies within narrow fluctuation bands which will feature high on the weekend agenda
were moving toward a direction where we could self destruct the us sugar program rep
it said the completion of the deal is subject to approval by rexnard holders and to other closing conditions
at its last meeting in december opec agreed to reintroduce fixed prices from february 1 around an 18 dlr per barrel reference point
the iea estimated total non communist world oil supply in february at 450 mln bpd down from 454 mln in january and 470 mln in the fourth quarter
the new market should stimulate the local economy
silicon graphics inc is raising 35 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 3 4 pct coupon and par pricing said lead manager morgan stanley and co inc
the american pork congress apc delegates listened to both sides of the question when former iowa congressman berkley bedell and bill lesher usda assistant secretary for economics for the years 1981 to 1985 debated at the convention in indianapolis
these sales show up as 4942 mln marks from profit transfer agreements and 3265 mln from writing back risk provisions
total sales in 1986 were 46 billion crowns or 68 billion dlrs
shr 53 cts vs 38 cts net 22249000 vs 15356000 sales 1891 mln vs 1665 mln nine mths shr 156 dlrs vs 121 dlrs net 64707000 vs 49603000 sales 5592 mln vs 4924 mln
energy analyst proposes us oil tariff
worries about renewed turbulence in the foreign exchange markets however were reflected in the uk government bond gilt market where prices dropped by up to 5 16 point
the state owned national milling corp nmc meanwhile said it is trying to sell 190742 tonnes of maize stored in different parts of the country
china has raised the state purchase prices of corn rice cottonseed and shelled peanuts from april 1 to encourage farmers to grow them the official china commercial daily said
pretax margins slipped to 125 pct in 1987 from 181 pct in 1986 it said
we believe that with a just political solution acceptable to all sides confidence will return and this will benefit the lebanese pound and lebanon in the meantime he said the central bank had four main goals 1 to use surplus liquidity to finance the budget deficit 2 to increase the role of commercial banks and non bank financing institutions in financing the deficit 3 to limit the transfer of lebanese pounds into foreign currency deposits 4 to protect the financial health of commercial banks
it said any fractional shares will be redeemed for cash reducing its free trading stock in public hands to 1300000 shares from 20 mln and its total shares outstanding to 1993000 from 299 mln
it seems to me that more trade between us is better than less trade he told a forum on us soviet trade relations
they said they saw no sign of planned withdrawals as yet adding that they would expect operators to wait another week or two to review commission policy before making up their minds
cp air pacific western airlines set new name
in the uk overall profitability will improve when the central electricity generating boards ordering programme for both nuclear and fossil fired fuels starts
but sen
we have terminated our discussions roderick told after a speech to the petroleum equipment suppliers association here
a year ago we could be pretty confident about the markets said obrien
he said he had received a new proposal from the banks late friday and had spent the weekend evaluating it with other members of the philippine delegation
in particular the quota on high quality hilton beef will be raised by 4500 tonnes to 34300 tonnes and quotas on frozen boneless beef will be increased by 3000 tonnes to 53000 tonnes
data general corp said it expects to record an extraordinary pretax charge of about 182 mln dlrs in the second quarter ended march 28
a proposed 300 mln dlr debt offering will increase leverage though proceeds will be used to redeem high interest cost debt
seven oaks international inc qpon in payout
the ministry said tf 1s forthcoming sell off meant that a third of the governments programme would have been completed in less than nine months
shr 31 cts vs 26 cts net 3516000 vs 2972000 revs 400 mln vs 363 mln avg shrs 114 mln vs 112 mln nine mths shr 89 cts vs 73 cts net 100 mln vs 8146000 revs 1168 mln vs 1050 mln avg shrs 113 mln vs 111 mln
qtly div 47 1 2 cts vs 47 1 2 cts prior qtr pay 20 april record 6 april
oil world said it did not expect the european community ec to introduce a vegetable oils tax but if such a tax were introduced it would have a negative impact on ec consumption
brown boveri und cie ag lifts 1986 dividend
the group rocker partners ltd and compass investments ltd said it bought the stake for investment purposes and not as part of an effort to seek control of the company
supply side measures are critical there is a specific range of consumer and agricultural goods where they have an extremely restrictive regime which is wholly unjustified he said
the company said frick makes refrigeration equipment and compressors and frigid coil also makes refrigeration equipment
last year the united states released about 4900 tonnes of tin to two ferroalloy firms
a tre spokesman confirmed that tre since december a unit of aluminum co of america had been contacted by sec investigators and was cooperating with the probe
standard and poors corp said it raised to a 1 from a 2 american security corps commercial paper
finance minister barend du plessis will announce details at a news conference at 1500 gmt a spokesman said
energy california oil production
wedtech was one of the success stories in the bronx but the company was manipulated and raped thomas scheer the head of the fbis new york office said of the payoffs the company allegedly made to win contracts
the operation will put outstanding bill supply at about 1500 billion yen
includes provision for store closing costs and unproductive inventory of 1000000 for 1986 qtr and 251 mln for qtr prior
hbo and co said it sent a letter of strongly urging shareholders not to sign any proxy cards sent by andover group
no fresh proposals other than the colombian initiative had been tabled formally today delegates said
trade sources said the cancellation followed an offer by an egyptian company islamic corp at 8580 dlrs tonne cost and freight undercutting other traders offers of between 9390 and 9449 dlrs tonne
greycoat group seeks two financings
an itc spokesman said the agency would forward its final report on the anti dumping case to commerce by april 22
in addition to issuing euro notes leucdia may also draw under the ruf by use of a so called swing line which provides same day availability of funds of up to 25 mln dlrs
bootle said the money markets had almost entirely discounted such a one point cut with the key three month interbank rate down to 9 11 16 pct from 9 13 16 last night and it would be rather conservative for banks to go for a half point cut now
shr 13 cts vs eight cts net 1364712 vs 881082 rev 116 mln vs 115 mln note qtr includes extraordinary gain of 586826 dlrs or six cts a share versus 183850 dlrs or two cts a share in fiscal 1986s first qtr
houston oil trust ho halts royalties
tescos offer made on march 10 values each hillards ordinary share at 3055p a 376 pct premium over the previous days closing price
arden group inc said it filed a registration statement with the securities and exchange commission covering two issuer tender offers
brusca said a quarter point prime rate rise to eight pct is justified because the spread between banks cost of funds and the prime rate has narrowed to less than three quarters of a percentage point
rowntree reports pretax profit at 84 mln stg
the payment date is may 7 while listing will be in luxembourg
note the company which is the french subsidiary of exxon corp
three previous rounds of talks between rubber producers and consumers for a new five year pact ended without agreement
hudson valley which provides guard and patrol services in upstate ny said federal protection services provides investigation uniformed guard and armoured truck services to banks corporations and residential communities in southern florida
the total includes two billion francs of 13 week bills 25 billion francs of two year bills and three billion francs worth of five year bills
oper shr 118 dlrs vs 58 cts oper net 2266000 vs 1037000 revs 458 mln vs 414 mln avg shrs 1924000 vs 1800000 note excludes gain of 73000 dlrs vs 290000 dlrs from benefit of tax loss carryforward
the ec rule would require all us plants to make changes in their inspection methods ranging from veterinary staffing to use of wood
but opposition leader constantine mitsotakis told reporters he thought the suspension would be temporary until the crisis is resolved
taro vit industries ltd tarof year loss
since then prices have risen from 15 dlrs in december to just above the official opec levels with oil industry analysts firmly convinced the organisation will maintain the agreement to keep the market stable
it said the notes will be offered in book entry form by a selling group managed by sallie mae in denominations of 10000 dlrs and 5000 dlrs increments thereafter
japanese government bond prices rose sharply today as the markets concluded that the stock markets collapse precluded the central bank from carrying out the widely rumoured discount rate increase
among semi finished products output rose sharply helped by a strong growth in construction materials
union votes to strike dakota city ibp plant
after a start up period the mill is expected to produce 106000 ounces of gold 1700000 ounces of silver 26000 tons of zinc and 5700 tons of lead on an annual basis from 4300000 tons of ore the company said
pepsico climbed 7 8 to 34 3 4 on 615000 shares by midmorning
if confirmed by the senate as expected he will succeed john shad who left the agency earlier this week after a record six years as chairman to become ambassador to the netherlands
the bank moved to tighten liquidity when the initial signs of the recent expansion became apparent in september and october last year russell said
the short term effect of foreign exchange rate movements in correcting international trade imbalances appears to be waning and long term efforts are required to cut japans chronic dependence on external demand the bank of japan said in a monthly report
what is obvious is that the latest military adventure will not bring political dividends to the american administration krutikhin said
cadnetix corp cadxo 3rd qtr march 31 net
italian interbank rate rises in february
dudley taft raises bid for taft broadcasting tfb 
qtly div 11 cts vs 11 cts prior pay april 17 record march 20
a surplus in the countrys balance of payments narrowed to 32 billion baht in february from 46 billion the previous month but was higher than 15 billion a year ago
an adb spokeswoman said the us had voted for a 200 pct increase in the banks capital but other votes were still coming in
continental health affiliates inc said it repurchased about 30 pct of its june 1985 swiss franc convertible bond offering at prices below par
the gross size of the asian dollar market contracted to 1972 billion us dlrs in january down 34 billion dlrs from december reflecting a decline in interbank activity the monetary authority of singapore mas said in its latest monthly bulletin
wright thursday renewed his call for import relief for the domestic oil industry and announced his support for a senate plan to trigger a temporary oil import tariff when imports reach half of domestic consumption
ottawa seeks explanation of credit card rates
more of our growth will need to be reflected in net exports and business investment and less in consumption volcker said
he told a news conference nord est expected to receive approval from the bourse supervisory body cob in the next two week when terms would set according to market conditions
dollar trades at post war low of 13950 yen in tokyo brokers
the increase brings unocals posted price for the us benchmark grade west texas intermediate to 1750 dlrs a barrel
the strict controls will require proof that large remittances to taiwan are connected to commercial transactions rather than currency speculation
feds heller urges broad reform to aid banking
joe gold sjg to develop mine
unemployment is currently at 82 pct of the workforce
institutional investors appeared to have sold dollars to hedge currency risks ahead of the end of the financial year today miyazawa said
triton said its 60 pct owned triton europe plc subsidiary has a 50 pct interest in the field which is located 50 miles east of paris
china will provide 370 mln yuan for the project and a chinese company won a bid against 12 other firms from seven countries to do the foundation work it said
the drugs are peg superoxide disdmutase and peg catalase for use against oxygen toxicity disorders that cause the often fatal tissue damage associated with severe burns organ transplants heart attacks and trauma and peg uricase for treatment of gout and other conditions caused by the buildup of high levels of uric acid in the body
the bank intervened just after the dollar started rising on buying by securities houses at around 14705 yen and hoped to accelerate the dollars advance they said
wall street stocks ames dept stores add 
bilateral discussions on interest rates continue he said
the ico board meeting ended without moves to restart negotiations on quotas which broke down last month producer delegates said
the loan renegotiations could involve bankruptcy or other litigation connected with the specific properties involved and could involve the suspension of interest and principal payments to some of the lenders
privately held clearwater was sold for three mln stg the company said
mack trucks mack debt affirmed by s p
japan says oecd study on subsidies still ongoing
it would raise oil and gas production the equivalent of 325000 barrels a day at a cost of 740 mln dlrs a year
time tl unit to redeem 100 mln dlrs in notes
payment date is april 15
improved market conditions for the products from these plants may make it feasible to reopen some of them usx said in the report
its implied senior debt rating is ccc
the proposal which needs approval by ec ministers would not force any member state to impose the ban
celeron consists of oil and gas reserves and an almost complete pipeline linking drilling operations in santa barbara calif to texas refineries
shr 72 cts vs 58 cts net 208 mln vs 149 mln revs 3287 mln vs 2398 mln avg shrs 289 mln vs 257 mln note prior year shr restated for june 1986 two for one stock split
shr 48 cts vs 81 cts net 3986000 vs 6760000 revs 773 mln vs 405 mln
one of general electric cos biggest businesses aircraft engines will ride a wave of increasing profits into 1991 because of a new contract worth 650 mln dlrs wall street analysts said
thrift actions taken
valley resources vr sets split raises payout
the debentures are convertible into the companys common stock at 4050 dlrs per share representing a premium of 2558 pct over the stock price when terms on the debt were set
on february 22 the united states japan west germany france britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions given commitments by washington to cut its budget deficit and by toyko and bonn to boost economic growth
ameribanc investors group and cardinal savings and loan association jointly announced that the proposed acquisition of cardinal by ameribanc has been terminated by mutual agreement
segment data for foods restated to include results of commodity marketing previously reported separately
mid week saw these same sales covered by the trade at 10 15 points discount
shr 115 dlrs vs 122 dlrs net 3301000 vs 3466000 revs 212 mln vs 208 mln nine mths shr 238 dlrs vs 258 dlrs net 6873000 vs 7397000 revs 516 mln vs 503 mln
the index for manufacturing base 1980 fell to 1039 from 1063 and compared with 1023 a year earlier
first valley corp fivc regular dividend
the bank will have to watch closely various developments resulting from its already eased monetary stance such as the sharp rise in real estate and stock prices he said
alusuisse made a net loss of 688 mln francs after a restated 756 mln loss in 1985 and set a 50 pct capital cut
shipping and military sources in the region have said iran used its southern gulf rigs as bases to launch helicopter and later speedboat attacks on neutral ships in the waterway
brown transport btcu declares first payout
att t to sell neti netfc software
sumita also said he did not see the recent dollar drop as anything like a free fall
fleet financial flt may be upgraded by moodys
it said 30 pct of that loan was guaranteed by the government of alberta
shareholders are better off if we grow the business rather than reinvest in dividends or share repurchases he said
mobil corp mobn of the us plans to open an office in peking to develop oil exploration opportunities in china the china daily said
this amendment has been submited to the cftc the cme said
hogg said members of some markets appear to believe that information restrictions protected their interests
other factions ignored mpt in the 1970s but the tanaka faction was forward looking and recognized the importance of mpt uchida said
the us crushing industry in its complaint under section 301 of trade law said higher argentine export taxes on soybeans than on products encourage the export of products and represented an unfair trade practice
the following results reflect the operations of the companies prior to the merger
however the finance ministry statement said all the british banks had promised their participation in the loan
the car has registered just over 20000 sales
arkla inc said it and international paper co ip filed a proposal with the arkansas public service commission designed to resolve the dispute between the two over ips plan to build natural gas pipelines for its paper mill facilities at pine bluff and camden
the icco indicator price is calculated from the average of the second third and fourth positions on the london and new york futures markets
pesch through its alpha health systems corp unit offered to acquire the 36 pct of republic health stock that it does not already own
foothill group fgi completes debt placement
s p downgrades united technologies and units affects 17 billion dlrs of debt
deak international buys johnson matthey
the debentures will be for a term of 15 years with a seven pct coupon and convertible into common shares for 10 years at 1350 dlrs per share
pacificorp ppw shelf offering of up to six mln shares of no par serial preferred stock with a total liquidation preference of 150 mln dlrs
he said the rising value of the yen against the dollar has virtually erased the wage differential between the two countries and fujitsu would like to make the medium size multi functional business computers in the united states
clearly theyve not been implemented yet no one expects implementation within a week or two he said
enro acquisition is a newly formed corporation and owns ramar intercapital corp and wilsons chief operating officer v
denominations are 10000 100000 and one mln markka and listing is in helsinki it said
provision for loan losses rose to 138 mln dlrs from 130 mln a year earlier
fiscal 1986 net includes special charges 247 mln dlrs in quarter and 372 mln dlrs in year from worgroce reduction costs revaluation of south african investment reversal of investment tax credits and othe4r items
devon resource investors din year end dec 31
cocoa futures fell to session lows by midmorning posting losses from last night of six to two stg a tonne in 1987 deliveries dealers said
the us put a deadline on the talks of october 1 but both sides have said an agreement is likely despite tough bargaining remained
shr 154 dlrs vs 109 dlrs qtly div four cts vs four cts prior net 171 mln vs 115 mln revs 9532 mln vs 133 billion avg shrs 111 mln vs 105 mln note cash dividend payable april 21 to holders of record april 10
from a weather standpoint you can say with certainty that the soviets are not getting off to a good start and will have a lower crop than last year gail martell chief meteorologist for ef hutton said
a cypriot tanker was set ablaze in the persian gulf yesterday after an iranian gunboat fired missiles at it shipping sources quoting reports from japanese tankers said today
the convention which was approved by banks earlier this month replaces an earlier convention dating from 1984 and deals with what had been widely seen as an increasingly anachronistic distinction between notes and public issues
we are taking on some 400 mln dlrs new debt with three tier financing emphasizing a revolving loan some term loans and some unsecured private placement and are now in the latter stages of signing an agreement chemical new york corp chl is the companys lead banker on the loan hemminghaus said
then however central banks had an easy time of it because the markets and the treasuries of the major industrial powers were agreed that the dollar needed to head lower to redress massive worldwide trade imbalances
the department previously reported the third quarter deficit was 3767 billion dlrs
the call by us deputy trade representative michael smith at a special committee meeting into the future of gatt follows a series of bilateral trade rows which have clouded efforts by the 93 nation body to promote fair trade
gantos inc gtos 4th qtr jan 31 net
it said it received the warrants when it agreed to sell its commmodity chemical operations to georgia gulf in 1984
lasmo canada to merge with onyx petroleum
crude oil prices rose 44 pct in february after a 197 pct january rise and were off 213 pct from the year ago level
seven oaks qpon in telemarketing venture
it said it took the action since the charge offs will significantly deplete its allowance for possible loan losses and the economic environment does not show signs for significant improvement in the near future
terms will be set on april 9 with payment due april 30
a call for retaliation also came from the semiconductor industry and from its chief trade union
but the sources said it is understood the action is not a sell recommendation
poor loan demand was illustrated by a rise in commercial bank reserves the official said
triton oil says paris basin reserves up 39 pct
lusinchi defended the rescheduling accord against critics who said it merely deferred the weight of payments to future governments
north american group namg buys georgia firm
questioned by a parliamentary select committee about why the participating countries had not announced any bands lawson replied we all agreed it would be much more sensible not to when asked whether that meant an informal joint currency float with set ranges was arranged in paris lawson said i do not want to reveal the precise nature of the agreement so as not to make it easy for speculation against the accord
the debentures will be redeemable at the companys option for the first six years at 105 pct during the seventh year at 1025 pct and after that at 100 pct of the principal amount
an appeal by buitoni spa against a court ruling that an accord under which it was to acquire italian state food firm sme societa meridionale finanziaria was not contractually binding has been rejected court officials said
they said a document drawn up by commission officials proposes a reduction in the maximum humidity level to 13 pct from 14 an increase in the minimum weight to 78 kilos per hectolitre from 76 a tightening of other technical standards and introduction of some new ones
ncr corp is very optimistic that it will post record revenues and profits for 1987 charles e
but he added that texaco expected to meet with the venezuelans later today in an attempt to reestablish that key supply line
michael rourke a and p vice president said the company withdrew the offer because delchamps did not respond favorably to it and because of market conditions
it said txl has arranged preliminary financing
the dot had given tentative approval to the merger plan feb
last year cpc bought 120000 tonnes gulf of suez through citoh
future exposure would rise over the life of the asset
man said
further purchases of usair stock would require the approval of the department of transportation twa said
brazil oil output fell in february usage up
qtrly div 26 cts class a vs 12 cts qtrly div one cent class b vs nil pay may 15 record march 31 note prior qtr pro rated on 45 day basis for abbreviated qtr
pan am pn sets pacific satellite stake sale
the sources said the new program could be announced by the end of the month and calls basically for preservation of the countrys growth
mthly div 73 cts vs 73 cts prior pay march 13 record march two
consumption in venezuelas internal market increased from 323000 bpd in 1985 to 342000 bpd last year
mead said sales of its unbleached coated paperboard was particularly strong up 13 pct versus the first quarter 1986
dyr said it expects its stock to be withdrawn from registration under the securities exchange act of 1934 shortly after april 14
the issue was heavily over subscribed
texas air said the settlement has other terms relating to employee shareholdrs of continental who will receive options from texas air
mechanically separated meat is a high protein low cost product that has been approved for use since 1978 usda said
rospatchs board believes that the long term interests of its shareholders will be best served by continuing as an independent public company at this time the company said in response to an unsolicited offer from diagnostic retrieval
aice officials are now hoping colombia can use its contacts with brazil to suggest a compromise
new zealand treasury bill tender cancelled
the estimate which the usda has left unchanged since october should be affected this time by recent evidence of a shortfall in the early and midseason crop now that those harvests are complete
its other mining interests include gold exploration prospects on 13000 acres in inyo county calif and 500000 acres in canadas northwest territories the gooseberry gold and silver mine in nevada chromite properties in northern california and newfoundland and a platinum prospect in the rankin inlet northwest territories
as announced february 26 the staff builders shareholders meeting to vote on the merger originally convened and adjourned december 23 will be reconvened on april 22
brazils sarney meets strikes with show of force
western diplomatic and official sources in khartoum say 32 pct of sudans total foreign debt is to the soviet union the eastern bloc and arab countries
oil prices rise on saudi effort
mco said one maxxam shareholder has filed an objection to the proposed settlement of shareholder actions related to the merger in the delaware court of chancery
pricing will take place on march 26 with conversion set at a premium of 10 to 15 pct over the closing price on that day
terms of the loan are being finalised and syndication is expected to begin in about one month dnc ltd said
garment orders were 324 mln dlrs against 383 mln and 283 mln while footwear orders were 297 mln compared with 333 mln and 200 mln
in an interview with the globo television network transmitted from rome funaro said he had proposed a four year plan to the creditors which would include a rescaling of the commitments derived from its debt
sosnoff said he hopes that caesars world management will be willing to negotiate an acquisition agreement with him
southmark corp said it will issue its shareholders a special dividend right to acquire 22 shares of american realty trust arb for each 100 shares of southmark they own
sanwa will purchase the shares from international finance corp a bpi shareholder and sister organisation of the world bank for 351 mln yen he said
but this again could benefit prices a buyer said
some 79 pct of respondents said they expect the number of agency brokers for which there was no estimate to fall over the next three years
when some of these are declared and exercised at the end of the relevant month physical tightness and squeezes around these dates are commonplace they said
both sides wrote to the minister yesterday setting out their cases but schoufour said he did not expect to hear from him before wednesday at the earliest
the company has assets of around 240 mln stg and employs 17000 at 15 sites in britain
swedish match ab smbsst 1986 year
an additional 264000 tonnes of durum wheat are still avaiable to algeria under the export enhancement program initiative announced on march 16
said
1143 vb
australias keating changes economic forecasts
generale de banque sa genbbr and heller overseas corp of chicago have each taken 50 pct stakes in factoring company sa belgo factors generale de banque said in a statement
the bank of korea said it fixed the midrate of the won at 84430 to the dollar its highest level since february 26 1985 when it was 84390
spokesmen of ariadne jacksons and neptunia were not available for comment nor any officials of the philippines
speaking at a news conference reviglio said the two projects will eventually bring in some 300 mln dlrs annually in foreign exchange to venezuela and help diversify the countrys export base
economic spotlight japan shipbuilders recovery
pep boys manny moe and jack inc pby 4th qtr
yankee cos inc said its eskey inc esk subsidiary has decided not to sell its yale e
negotiations were going on to determine an amount of compensation for seelig he said
sterivet laboratories ltd stvtf 1st qtr net
standard and poors corp said it affirmed the ratings on wr grace and cos 575 mln dlrs of debt following its fourth quarter 1986 loss of 560 mln dlrs
sudanese minister predicts debt difficulties
the federal funds rate at which banks lend overnight money to one another could help determine how many banks match the higher prime rate and also how quickly they move
the usda has been using the gulf price to determine county posted prices one dealer said
the department said thailand exported 7715 tonnes of tin during january may compared with 8462 tonnes a year ago
describing this as a major departure in the companys approach to commercial development he told the annual new business forum of the commercial development association we are looking to acquisitions and joint ventures when they look like the fastest and most promising routes to the growth markets weve identified not very long ago union carbide had the attitude that if we couldnt do it ourselves it wasnt worth doing
he said revenues are expected to increase modestly because of the companys decision to downsize its leasing business nonrecurring revenueslast year from a one time texas teacher assessment project and the impact of the discontinuance of products last year
southwest said the waiting period expired on march 5 without receiving a formal second request for information
banks in jordan have generally complied with the higher capital requirement except chase manhattan which decided instead to close its operation banking sources said
but he said japanese traders were in a position to have an idea of the quantity he had sold noting that traders overall had put buffer stock sales at between 25000 and 35000 tonnes
dealers noted that early strength in the index linked sector of the market which had enabled the government broker to supply some of both index linked stock tranches announced on friday had soon fallen prey to the general depression affecting gilts
nippon oil co ltd which had the largest share of refined products sales in the japanese market in fiscal 1985 cut nine pct of its refining capacity in fiscal 1986
this was owing to high prices for the countrys coffee exports low oil prices low inflation and rising real incomes he added
the securities are available in denoninations of 10 mln yen each and will be listed on the luxembourg stock exchange
record nz futures volumes traded in february
but like last year gas utilities could buck this trend s and p said
oil tax break ridiculed by us house taxwriter
in that agreement signed september 15 1986 pdvsa paid southland 290 mln dlrs for half of citgos stock
concept inc ccpt 2nd qtr feb 28 net
ec commission details sugar tender
if there is a benefit from a 23 pct fall in wall street its some sort of resistance to inflation worldwide said geoffrey dennis of brokers james capel echoing comments from other london and tokyo analysts
us intec inc intk 4th qtr net
as an indication of his success white house spokesman marlin fitzwater told reporters friday the administration still did not like some provisions
for 1987 production is projected to fall to 1705 mln tonnes
spokesman fitzwater said we dont want a trade war but the imposition of sanctions showed the united states would act when it had evidence that trade pacts were being violated
the selling concession is 3 4 pct while management and underwriting combined pays 3 8 pct
in austria it was warm with some rainfall which was favourable for beet growth licht said
crude oil prices rose 44 pct in february after a 197 pct january rise and were off 213 pct from the year ago level
gold futures retreated from modest early gains and closed steady while silver prices rallied on the commodity exchange in new york
the top selling hurriyet topped its front page with our resolute stand made greece see reason but two newspapers cumhuriyet and milliyet noted in identical headlines crisis frozen that the basic disagreement over exploration rights remained unsolved
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
but dealers said the federal reserve bank of new york gave traders a sharp reminder that the g 6 pact had encompassed the idea of limiting inordinate dollar gains as well as declines
louis based harvard industries a manufacturer and distributor of automobile supplies held 80 pct of hayes following completion of a 13 dlrs a share cash tender offer in december
they say malaysia should not be able to benefit from the icco unless it is a member and if the buffer stock bought malaysian cocoa malaysia would have no incentive to join delegates said
other analysts including michelle galanter applebaum of salomon brothers inc recommend usx
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
wholesale prices are likely to turn upward in march as higher world crude oil and raw material prices are expected the bank said
it was arranged under a bilateral treaty to avoid double taxation it said
in yesterdays report the energy department said imports could make up 50 pct of us demand by 1995 adding that persian gulf producers will provide as much as 65 pct of the free worlds total oil consumption by that date
biotechnology development corp said its medicontrol corp subsidiary received a 500000 dlr investment by monsanto cos gd searle and co subsidiary
genzyme said that since 1985 it has entered into several licensing agreements for the technology with amylase test kit makers
outside the house energy minister marcel masse said petro canada would be worth between three and four billion dlrs and because of the size could be difficult to sell
the coffee sugar and cocoa exchange amended regulations governing expanded trading limits on coffee cocoa and sugar contracts to provide uniformity
nomura said the bonds are callable from march 31 1990 at 104 declining by 1 2 pct per annum
creditanstalt austrias largest bank holds majority interests in 10 medium sized and large austrian companies
he believed some manufacturers were not investing because they feared the australian dollar would get stronger
usair group inc said it had no comment on an offer it received from trans world airlines to buy usair for 52 dlrs cash per share
us treasury selling 95 billion dlrs of one year bills march 12 to raise 275 mln dlrs
he said this revision which brings government forecasts more closely into line with those by private institutions takes account of an anticipated slowdown in the world economy and international trade
us senate panel votes to limit county loan drop
us mine production of silver rose to 2295230 troy ounces in december from 2181082 in november the interior departments bureau of mines said
gas utilities along eastern seaboard relying on transco for spot gas such as north carolina natural gas co ncng piedmont natural gas co pny will face the same high cost factor as brooklyn union steve richards a supply manager with end users supply system a houston based natural gas brokering firm said
us agriculture department usda figures for highly erodible land enrolled into the conservation reserve program were regarded by most grain analysts as neutral to bearish although some said a full state by state breakdown would be needed to assess the full price impact
alliance automation had 1986 sales of about 35 mln dlrs and employs 200
valley federal savings and loan association said its board declared a two for one stock split for its common stock
harvesting figures for the week to october 18 are not yet available
the three pct figure could translate into a relatively high figure if european methods were used one economist said
fed expected to add reserves economists say
the cumulative total of cattle slaughtered under the program from april 1 through march 13 is estimated at 1032300 head it said
reagan said japanese prime minister designate noboru takeshita said in a telephone conversation tuesday morning that his takeshitas top priority was to maintain stable economic relations with the united states reagan noted that treasury secretary james baker met with west german financial officials and reaffirmed their commitment to the louvre agreement
that doesnt mean to say we shouldnt be in the us said cornelissen
jardine matheson profits seen up sharply in 1986
shr 27 cts vs 29 cts net 13555000 vs 14635000 revs 104606000 vs 110311000 avg shrs 472 mln vs 471 mln 12 mths shr 410 dlrs vs 366 dlrs net 226653000 vs 186790000 revs 14 billion vs 13 billion avg shr 471 mln vs 471 mln note latest 12 mths net includes gain 46 cts per share for sale of virginia service territory to dominion resources inc d
the iadb has approved previous loans totaling 2075 mln dlrs to help finance investments of some 580 mln dlrs in mexicos tourism sector
oper shr 17 cts vs 25 cts qtly div 15 cts vs 15 cts prior oper net 1522000 vs 3501000 sales 980 mln vs 863 mln note prior year net excludes loss from discontinued operations of 1817000 dlrs
the energy department said it reached proposed oil pricing settlements totaling 680150 dlrs with the operator and four working interest owners of ad leblanc no
agriculture and services were included in the negotiations for the first time
the nairobi sources said the pakistani decision did not come as a surprise as pakistan had been complaining of the trade imbalance for some time
cgee alsthom year to end december 1986
soviet paper details georgian flood damage
rha said it was also due to a shift in exchange rates between the us dollar and the yen that made it cheaper to buy us goods than japanese goods
it said mikromed is developing a kit which it would distribute to its customers and which would be used by its customers to draw samples of their own blood
the investors include ingemar rydin industritillbehor ab of sweden and vbi corp of the west indies
porsches net profit dropped sharply to 753 mln marks in 1985 86 from 1204 mln marks in 1984 85
chrysler said electrospace will help its gulfstream operations grow in military and commercial aircraft sales
carnival will close banks in duesseldorf all day on monday
brazil the third worlds largest debtor last month declared a moratorium on interest repayments
american express was trading today at 78 1 4 off 3 8
investment companies managed by sarlos currently own slightly less than 10 pct of guardian mortons special shares
congress eyes loans that aid us competitors
he also urging filling the strategic petroleum reserve at a faster rate
becor said it has also received expressions of interest from other parties seeking information about becor
subscriptions close april 8 and payment date is april 27
louvem said the option to buy the 31 mln shares would be valid until december 15 at a purchase price of 315 dlrs a share
upon clearance of the revised proxy statement by the commission and its distribution to staff builders shareholders that companys management will continue to solicit proxies for approval of the merger
the canadian governments auction of 400 mln dlrs of 7 year and 3 month bonds yielded an average 797 pct and were priced at an average 98787 dlrs the finance department said
triumph capital inc to make acquisition
conable said the world bank has been pressing developing countries to open their markets arguing that a free trading environment increased the possibility of global economic growth
the department said the customs service 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
the coupon and payment date is june 1
the company also remained silent last thursday and friday as rumors drove american express stock up a total of 5 1 2 dlrs in two days to bring it to a friday close at 74
conagra inc cag regular dividend set
m 1 money supply rose a provisional 173 pct to 4286 billion pesos at the end of december 1986 from 3652 billion a month earlier
the us should reassess its mideast policy in light of its rising dependence on imported oil according to charles ebinger of the center for strategic and international studies
mulroney who offered few new details of the talks said that while the negotiations were risky and difficult a profile of a major trade deal is now emerging in a 50 minute address mulroney made an often passionate defense of the initiative that he said would give poorer areas of the country a major economic boost
bank of new england corp 1st qtr shr 104 dlrs vs 83 cts
high interest rates sluggish global economic growth and creeping protectionism are deepening the third world debt crisis senior mexican officials said
the decree did not say specify if this was net or gross profits
new line cinema corp nln 4th qtr net
given virtual zero inflation in west germany such fears may seem exaggerated they said
ibc president not to attend ico executive board
video monitors is a privately owned wisconsin based manufacturer of video display and and video monitor devices
shr profit 22 cts vs loss 215 dlrs net profit 271000 vs loss 2530000 revs 163 mln vs 152 mln avg shr 1238000 and 1177000 12 mths shr profit 82 cts vs loss 214 dlrs net profit 982000 vs loss 2517000 revs 665 mln vs 645 mln avg shrs 1193000 vs 1177000 note net loss 1985 yr and qtr includes a charge of 1042000 or 89 cts per share for expenses related to restructuring of companys domestic alloy business
the agency said they also lowered to caa from ba 1 the ratings on getty oil cos notes and getty oil international nv s eurobonds
it said captive venture issued 1600000 restricted preferred shares convertible into 16 mln common shares for scan graphics
but a matsushita electric industrial co spokesman said a rapid increase in imports was not likely
most american aggregates amag stock acquired
lead underwriters josephthal and co inc emmett a
a pact with chile with a one pct spread came a day before venezuelas
full name of company is the institute of clinical pharmacology plc based in dulbin ireland
in a filing with the securities and exchange commission the group said it bought 49400 airlease units between july 16 andf october 15 at 1723 dlrs to 1760 dlrs a share
monsanto to buy rhone poulenc polyphenyl business
the bank said that without a major drop in the inflation rate the rand was bound to eventually decrease even more regardless of a sharp rise in the gold price
with the split chrysler said 132 mln shares remain to be purchased in its stock repurchase program that began in late 1984
the post detente embargoes have taught the ussr to limit its trading with the us he said
monfort of colorado inc soared 21 1 2 to 75 in over the counter trading responding to an announcement late yesterday that the firm will be acquired by conagra inc cag according to a letter of intent signed by both companies conagra will offer 25 of its own shares for each of monforts 43 mln outstanding shares
this was cleary a political decision hall said
the diplomats also said however that they did not expect the kind of social unrest that followed sharp price rises in other east bloc states notably poland
banco santander to buy west germanys cc bank
hechinger hecha offering of 100 mln dlrs of convertible subordinated debentures due 2012 through morgan stanley and co inc
under the settlement announced today federal prosecutors agreed to defer all charges against wiggins and three other defendants under a one year pretrial agreement
general electric ge unit redeems notes
shr one ct vs nil net 32345 vs 3772 revs 9946578 vs 5939252
telecredit inc tcrd 3rd qtr jan 31 net
nspa said the figures include only nspa member firms
the second one billion franc variable rate tranche is led by banque indosuez credit lyonnais and ugp with indosuez as book runner
with french unit productivity costs now among the lowest in the oecd area the inflation differential between france and its main trading rival west germany could fall to just one pct this year it said
liu said most of the groups profit came from the parent company rather than its two wholly owned subsidiaries xiamen international finance co ltd in hong kong and luso international bank ltd in macao
the issue is payable on april 15 1987
european community ec commissioner willy de clercq meanwhile told reporters conflict between the worlds three major trading and economic powers the ec the us and japan set a poor example for other members of gatt
imperial oil is already canadas largest energy company with 1986 revenues of 71 billion canadian dlrs
many debtor countries had realised that it was not possible to mobilise capital flows and especially direct investments without such policies stoltenberg said
shares could also be sold in a copper mine empresa nacional tintaya sa in the southern state of arequipa
relief to us corn oats growers said likely
eventually the ministry will get what it wants one combined competitor bache securities japan ltd analyst darrell whitten said
the price was not disclosed
hughes tool ht says baker bko merger alive
i still presume that it will take place in the second half of march this banker said there would be no reason to postpone the issue of the 10 mln veba shares for a few days
chemlawn also said it adopted a shareholder rights plan or poison pill during a 120 intermin safeguard period its board adopted to deter attempts to acquire the company through any means other than an all cash tender offer while it seeks other purchasers
also the companys competitive position should be substantially strengthened by the merger moodys said
fleet said the deal is expected to be completed by july one 1988 the date on which the nationalization of rhode islands interstate banking law takes effect
the oecd said frances economic situation has deteriorated somewhat during the early months of 1987
he reported that the 23 mln dlr hydrocal ii system under construction at the companys refinery in princeton la is on schedule and production will begin early in fiscal 1988
south korean won fixed at 25 month high
one for five rights issue at 1150 dlrs a share one for four bonus issue on capital enlarged by rights issue shrs 9936 mln vs 7094 mln
digicon dgc completes sale of unit
one trader said that although demand from japanese investors is heavy it may prove to be only short term
shr 56 cts vs 68 cts net 8327000 vs 9738000 nine mths shr 219 dlrs vs 167 dlr net 328 mln vs 248 mln avg shrs 150 mln vs 149 mln assets 558 billion vs 434 billion deposits 360 billion vs 327 billion loans 296 billion vs 290 billion
the figure was thus outside the three to six pct range set by the bundesbank for 1987
arklas pipeline division arkla energy resources currently delivers all of the natural gas consumed at the two mills
murakhovsky said the agreement was one of intent and designed primarily to renew and increase the soviet unions food production capacity
minorco said it expects net earnings to be substantially stronger than the 440 mln dlrs reported for the first half
yulo said the philippines was lobbying for a renewal of the international sugar agreement which expired in 1984
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 tender or exchange offer that would result in ownership of 30 pct or more
analysts said the gilts market may also be building steam on the political implications of the budget which suggests an early election
for all of fiscal 1986 the company earned 410 mln dlrs on revenues of 6944 mln dlrs
american express unit issues new zealand dlr bond
it said the increase is being made to reflect current market conditions
cardinal industries inc said it restated earnings for the first nine months of 1986 to 235000 dlrs or nine cts per share from 485000 dlrs or 18 cts reported previously due to the failure of an automated accounting system installed in mid year and replaced in the fourth quarter
luxtec luxt cuts warrant exercise price
he told a senate banking subcommittee the group of five nations and canada agreed in paris to see if there cant be a period of reasonable stability instead of volatility to give time for the committments in paris to take place
about 100 private companies have postponed plans to issue equity shares and debentures in the first quarter of fiscal 1987 88 partly on account of fierce competition from public sector bonds a merchant banker said
gorman
in a filing with the securities and exchange commission the group said it bought 586500 smith common shares between october 9 and 19 at 786 dlrs to 957 dlrs a share
in addition she also pointed out that prospects for higher interest rates may also be affecting pacific gas trading activity
venezuelan bank begins signing debt contracts
edelman was unsuccessful last year in offers for lucky stores inc and fruehauf corp
the spokesman would not say whether the board is planning to vote on the understanding between american express and nippon life
japanese purchase of us high tech firm opposed
this compared with an 897 mln dlr shortfall a year earlier
as previously announced us lines sa will transfer its south american service to crowley maritime corp s american transport lines inc subsidiary in return for a fixed lease payment for the four lancer class vessels and a participation based on american transports south american revenues
if in effect now the bill would limit credit card rates to 138 pct compared to a nation wide average of 18 pct the subcommittee said
brazilian sugar industry sources said new sugar export sales were expected to be extremely low for the next year with the institute wary of exposing itself to domestic shortages of either alcohol or sugar and because of the need to rebuild depleted reserve stockpiles
the united states and japan will soon settle their trade dispute over semiconductors us commerce secretary malcolm baldrige said on television
it would complement the present system of opening or closing the monetary screws based on the pattern of inflation key indicators such as unemployment and the rise or fall of the money supply
henley group inc said it plans to issue 20 pct of the common stock of its fisher scientific group inc unit to henley group shareholders
proceeds from the offering will be used for general corporate purposes including repayments of outstanding debt business acquisitions or investments american can said
atlantic fuels marketing corp said today it will raise the posted cargo prices for high sulphur fuels in new york harbor 50 to 75 cts per barrel effective april two
transco said it filed a revised settlement proposal which would permit it to become an open access transporter while restructuring gas sales services
they quoted jaruzelski as saying of a private japanese plan to export car production facilities to poland if this project goes well it will serve as an engine in future economic relations between poland and japan nakasone speaking of the possibility of resuming extending official loans to poland said it is necessary that an agreement should be established at an international arena such as the paris club of creditor nations he hoped that such an agreement will be achieved at an early date but he did not make firm commitments about japanese loans the sources said
ge credit says it will buy kraft incs d and k financial corp
late last month de graaf said that if the dispute was not settled by monday this week he would withdraw the subsidy
ivan herstatt managing director of the bank when it collapsed was sentenced to four and a half years in prison in 1984 but appealed
against this exchequer transactions would add a net 535 mln stg
the company said the offer is conditioned on approval of its board but a spokesman declined comment on whether or not the board has scheduled a meeting
company was formed dec 30 1985
the bank also said that at least initially auctions will be alloted on a bid price basis a system under which bidders are allotted stock at the price which they bid
pharmacia ab launches eurocommercial paper programme
the us trade gap narrowed to 136 billion dlrs in march from 151 billion in february and is expected to show continued improvement in april in volume if not in real terms
the bank of canada ottawas fiscal agent in the marketplace revealed this week that sharply reduced borrowing needs has allowed the shift toward shorter bond terms and heavier emphasis on the weekly treasury bill auction issued in terms of up to one year
the bank of france in conjunction with the bundesbank and other central banks intervened heavily in foreign exchange markets between late december and the january 11 ems accord in an attempt to hold down the mark which was attracting a flight of funds from the dollar and simultaneously shore up the franc
club mediterranee cmipa year ended october 31
cms advertising said the next split will result in a proportionate reduction in the exercise price of its stock purchase warrants to 167 dlrs a share from 250 dlrs
qtly div 17 1 2 cts vs 17 1 2 cts prior pay april 20 record april 2
the us should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system of preference gsp despite easing of curbs on us technology exports in recent years control of them is still extremely strict and influences normal trade between the two countries it added the paper also printed an article by chinas commercial counsellor in its washington embassy chen shibiao who said that all kinds of difficulties and restrictions were preventing bilateral trade fulfilling its full potential
the cyprus based newsletter also said authoritative libyan oil sources said libya was producing 850000 bpd compared with its 948000 bpd quota and that actual liftings are much lower than that
allied signal said the unit had 1986 sales of over 90 mln dlrs
shr 34 cts vs 20 cts net 2253000 vs 1332000 sales 897 mln vs 859 mln year shr 94 cts vs 64 cts net 6191000 vs 4257000 sales 3164 mln vs 2867 mln note prior year net both periods includes 2100000 dlr charge from sale of craft showcase stores
weve had counsel working for some time in every region where viacom has cable televison systems redstone told in a telephone interview
the distribution is scheduled for april six the company also said
midwest cash grain slow country movement
the figures showed that only 77 pct of enterprises met their supply obligations in january and february
some farm state lawmakers already are manuevering to find the budget savings
the shares can be converted between 1990 and 2002 at the rate of four ordinary shares for every 15 convertibles held
woolworth said it expects to consummate the deal later this year
chemlawn has already said it is holding talks with various parties on the sale of the company and said it has informed all potential purchasers that they mnust sign confidentiality agreemnents to receive confidential information on chemlawn
it said it expects to earn 2250000 to 2750000 dlrs for the first quarter of 1987
the two top officials of the chicago board of trade cbt are planning to visit three countries in the far east next month to drum up support for the exchanges proposed night trading session cbt president thomas donovan told 
diamond shamrock dia raises crude postings
in sweden beet growth has been delayed although plant population is reported to be regular and good
total export authorisations for the 1985 86 campaign 42 weeks now stand at 2076620 tonnes
diamond shamrock last changed its postings on march 4
the corn compounding ratio rose to 452 pct in 1986 87 from 434 pct a year earlier
that would result in a total debt to capital ratio of nearly 50 pct moodys said
domes debt troubles have often obscured the fact that it is a major player in the canadian oil and gas field
a world bank mission today held talks with a senior finance ministry official to discuss brazils requests for loans ministry officials said
delayed shipments from peru to mediterranean countries because of production and transport problems lack of spanish exports since the closure last year of cia la cruzs smelter at linares and lower output in morocco and greece have all meant additional demand being directed to merchants who in turn have been drawing on lme stocks
but he said it was not necessarily due to imprudent borrowing and it is still within an area of being manageable the bank estimates indonesia has total foreign debts of around 37 billion dlrs
china signs world bank loan for tianjin port
statoil seeks share in thai gas field
adb approves 75 mln dlr loans for two projects
a ministry of foreign economic relations and trade official said this years outlook for exports which account for more than 75 pct of foreign exchange earnings is much healthier than a year ago
chase amp bank cuts australian prime to 1775 pct
barwon said it was represented by australian stockbroker jacksons ltd which forwarded a formal offer to philippine president corazon aquino of 100 pesos for each of the 381 mln a and b shares of san miguel
yields are adjustable annually and linked to those on 12 month treasury bills
american express co rumored to be considering a spinoff of part of shearson lehman brothers inc said it is studying a range of options for its brokerage unit that could improve shearons access to capital and help it meet broadening international competition
morgan chief executive christopher reeves head of corporate finance graham walsh and senior corporate finance director roger seelig all resigned in january over the guinness affair
the decision follows the emergence of structural changes in japanese industry following the rise in the value of the yen and a decline in domestic electric power demand
the crop accounts for over 90 pct of ugandas export earnings and the recent slide in prices to four year lows is likely to more than offset an expected increase in production
nikko securities co ltd one of the big four japanese securities houses is responsible for corresponding with liffe on these matters
gendis inc 4th qtr jan 31 net
icco to examine buffer stock proposal tomorrrow
offsetting this was a 23 pct fall in the cooper basin gas and liquids revenue of its 506 pct owned vamgas unit
but of course weve had reassuring signs from the japanese for quite some time he added
operating profit rose to just under 120 mln marks in 1986 from around 100 mln in 1985
dome said operating income from its crude oil and natural gas segments fell by 250 billion dlrs to a 1986 loss of 171 billion dlrs from prior year earnings of 7370 mln dlrs
it said its first estimate of planting intentions indicated cuts of 15 to 20 pct in plantings in the northern region of picardy and the paris basin which harvested 192000 ha last year
the company also said it incorporated its packet products division as of april one
south africa recorded a seasonally adjusted annualised surplus on the current account of the balance of payments of 743 billion rand in the first quarter compared with a surplus of 724 billion rand in 1986
jax fashions inc year feb 28 net
skyline skxv expects to begin mine in july
the results were largely in line with analysts expectations and bat shares firmed by two pence to 537p at 0955 gmt
cleaver brooks a subsidiary of aqua chem which is owned by the french firm societe lyonnaise deseaux et de leclairage said it plans to build a manufacturing plant near tulsa
ford f debt ratings may be raised by moodys
oii said it has assumed owens 3 3 4 pct sinking fund debentures due june 1 1988 935 pct sinking fund debentures due november 1 1999 and 7 5 8 pct debentures due april 1 2001
shr 11 cts vs five cts net 656000 vs 314000 sales 8868000 vs 6499000 avg shrs 5823000 vs 5705000 1st half shr 22 cts vs 13 cts net 1296000 vs 795000 sales 173 mln vs 135 mln avg shrs 5809000 vs 5973000 note share adjusted for five for four split in february 1987
butler said costs associated with the sale were included in its restructuring charge taken in last years fourth quarter and will have no effect on its 1987 earnings
the shift from commodity chemicals may be ill advised
the idc official declined to specify what was holding up the talks
first city bancorp fbt sells energy loans
the loan presently is about 985 pct committed
under the new pact the adjustment under these circumstances will be five pct unless the council decides on a higher adjustment
the ec commission rejected all bids for free market bread making and feed wheat and all bids for the special west german tender at todays weekly ec cereals tender trade sources said here
gaf said it will be filing an amendment to its 13 d with the us securities and exchange commission
rather than being a self contained specialised group of dealers who spend all their time searching for prices the definition now appears to be the less formal idea of a multi purpose fund manager it said
currently it must be shut twice a year
this weeks intervention showed central banks were prepared to cooperate to defend the paris pact dealers said
he said middle souths net income is expected to post modest growth over the next three years
qtly div 10 cts vs eight cts prior pay june four record may 14
lilco said none of these contracts will result in additional costs to its customers
shr 160 dlrs vs 312 dlrs net 106 mln vs 206 mln revs 1625 mln vs 2146 mln note 1985 shr restated to reflect january 31 1986 stock split
union pacific raises crude oil postings 50 cts a bbl effective yesterday wti to 19 dlrs
the agreement assures the retention of more than 600 jobs at a northeast philadelphia plant which had been in jeapardy when gould had accepted a tentative offer from westinghouse inc which was later terminated
february non durable goods sales gained 13 pct after declining 02 pct in january
mitsubishi buys into danish dairy product firm
any farm loan secondary market would be modeled after the successful resale markets in home mortgages the government national mortgage association gnma and the federal home loan mortgage corporation freddie mac industry sources said
charming shoppes inc chrs raises quarterly
in may the ministers are also likely to discuss how to prevent japan from getting an extra trading advantage as a result of spain and portugal joining the bloc which obliges them gradually to reduce tariffs on many industrial goods
fi tek corp said it has signed a letter of intent to acquire voice systems and services inc for an undisclosed amount of stock
grumman aerostructures of bethpage ny will design develop and build the rudders elevators and other parts for the transports
qtly div 21 cts payable april 15 record march 31
citicorp cci the largest us bank said last week that it might have to reclassify most of its 46 billion dlrs in brazilian loans as non performing thus removing them as part of the banks expected income producing assets
no cominco strike talks scheduled
apparel sales outshone other product groups in sales according to retailers and analysts
possis poss votes 100 pct stock dividend
mangan and the co lead managers said the three different pricings enabled the finance arm of general motors to borrow at attractive rates
for that we must take the step forward to the institutional level said leo de corel of kredietbanks economic research department
an economist at abn bank said he expected west german and dutch interest rates to ease in the short term
industry demand for farm machinery continued to erode during the latest fiscal year with worldwide industry retail sales of tractors sliding more than 10 pct below last years depressed levels the company said
borg warner bor tells of talks with jacobs
a total of 210 mln tonnes of intervention wheat has been sold for export or to the home market since the season started july 1 leaving an unsold balance in intervention of about 159 mln tonnes
eastman kodak ek files for debt offering
but we dont think they have become short of yen quite yet he said
our country is walking on one leg now said ismail salleh an economist with the institute of strategic and international studies
st
the official target for 1987 gnp growth is eight pct
per share figures also reflect partial three for one stock split effected december 1985
it has followed wall street and other markets but is also setting its own trend in response to the weight of both domestic and offshore funds pouring into equities particularly in the gold sector
genentech convertible bond upped to 150 mln dlrs
shr profit five cts vs loss 16 cts net profit 689000 vs loss 1910000 revs 123 mln vs 9432000 note 1987 net includes 276000 dlr tax credit
okc limited partnership said it will make a five ct per share distribution to unitholders down from 15 cts in december and payable march 30 to holders of record march 18
the new york shipping association and international longshoremens association said they agreed to cut cargo assessments at the port of new york and new jersey by more than 50 pct on some labor intensive cargos
hudsons bay co had 1986 writedown of 404 mln dlrs mainly on stake in dome petroleum
wilderness experience inc 4th qtr loss
analysts said last year british petroleum held one of the more bearish positions on oil prices
us video vvcoo first national in merger
i am convinced that they are attempting to move their policies in the right direction
reynolds metals to restart idle potline
several dealers and analysts added that market forecasts of a rise in reserves of between one and three billion dlrs had overestimated the amount of pound sales that were likely to have been disguised by swap arrangements or transactions on the forward market
caesars said its financial advisor drexel burnham lambert inc had determined that sosnoffs offer was financially inadequate for shareholders other than sosnoff
the complaint asked the defendants be enjoined from proceeding with the reebok acquisition of avia
wed rather place our bets with newmont
the australia and new zealand banking group ltd anzas said it will cut its prime rate to 1600 pct from 1650 effective june 22
qtrly div 175 cts vs 175 cts prior pay april 20 record april 2
bundesbank allocates 65 billion marks in 28 day repurchase pact at 380 pct
minstar chairman irwin l
flooding in the red river on the texas oklahoma border has shut down the basin pipeline a 24 inch pipeline that transports as much as 300000 barrels per day of sweet and sour crudes from texas to cushing okla a texaco pipeline co spokesman confirmed
rowntree mackintosh plc rwntl announced it made a pretax profit of 84 mln stg in the 53 weeks ending january 3 1987 compared with 793 mln stg in the previous year
the liberalisation in both imports and foreign exchange controls will not only help our trading partners but also help our own economic problems he said
in that announcement mts acquisition said its bank and investor bankers felt they could provide financing totaling 975 mln dlrs for the offer
already they said japanese trading houses long term credit and commercial banks brokerages and foreign merchant banks have set up research sections to act as go betweens in deals or find good buys for themselves
continental airlines inc a unit of texas air corp said it filed a registration statement with the securities and exchange commission relating to 100 mln dlrs principal amount of senior notes due 1997 guaranteed by texas air corp
but they are not cut in stone they can change with time skeoch said
several other banks queried by said much the same thing
west german gross green coffee imports in january fell sharply to 38616 tonnes from 54576 in january last year figures from the federal statistics office show
lilaratne said the susceptible clones would be replaced by pb 86 rrim 600 rric 110 rric 121 ric 100 and ric 102
fabrique nationale herstal sa fnhbbr said it suffered a net loss of 299 billion francs last year after being hit by strikes the falling dollar and declining oil prices
the stocks of brokerage firms also climbed in response to the relatively high value nippon put on its stake in the us firm
collins foods cf to redeem debentures
gross proven and probable reserves of crude oil and natural gas liquiids 184 mln barrels off 76 pct from a year before
1986 year loss includes pre tax charge of 230 mln dlrs for write down of oil and gas properties
the bank of england said it provided just 17 mln stg assistance to the money market in response to an early round of bill offers
huckaby also said he would be seeking guidance from the justice department to determine if it would be legal to ask corn refiners to limit production
prime medical pmsi says merger talks end
construction employment also lowered the number of jobs in the goods producing sector falling by 45000 after seasonal adjustment the department said
it has projected its current account deficit will widen to over four billion dlrs in the current financial year ending march 31 from 18 billion in 1985 86
thad cochran r miss which call for either a 502 marketing loan or a producer option payment
analysts estimate phillips cash flow at over one billion dlrs for 1987 while long term debt which resulted from restructuring to find off corporate raiders in 1985 hovers about 59 billion dlrs as of december 1986
negotiations will be complicated and lengthy but we continue to expect that a rescheduling agreement will be completed this year said aw clausen bankamericas chairman and chief executive officer
actual reserves rose by 305 mln dlrs in february to 2226 billion dlrs after rising 29 mln in january to 2195 billion
in a separate statement american brands said the sale would be for 545 mln dlrs plus the assumption of liabilities
shr one ct vs three cts net 123000 vs 371000 revs 2944000 vs 2138000 avg shrs 114 mln vs 116 mln six mths shr five cts vs six cts net 531000 vs 725000 revs 6200000 vs 4128000 avg shrs 114 mln vs 116 mln
pre equity net 5207 mln dlrs vs 4335 mln after tax 345 mln vs 1634 mln minorities 400 mln vs 644 mln interest 3389 mln vs 2611 mln and depreciation 267 mln vs 272 mln but before net extraordinary loss 2039 mln vs 1379 mln
the crisis began when brazils trade surplus its chief means of servicing its foreign debt started to decline sharply and the problem was compounded by a renewed surge in the countryrate of inflation
any farm trade concessions would be unveiled later this month they said
ongpin said the prepayments were part of seven different scenarios philippine negotiators prepared before the talks
tanjug said the programme would create conditions for raising exports of finished steel products
texon energy corp said it has entered into a preliminary agreement to purchase an 80 pct interest in a privately held specialty plastics manufacturing company it did not name
on dec
total production for the current maize harvest is expected to reach between 99 and 101 mln tonnes versus 10 to 102 mln tonnes estimated a week ago
1986 3rd qtr and nine mths oper net excludes operating income of 15 mln dlrs and and 44 mln dlrs for discontinued operations
schutz made no specific profit or sales forecasts
he urged heads of government departments and public institutions to help the government rationalise expenditure
taiwans foreign exchange reserves bouyed by rising exports have hit a record high and are likely to soar to 72 billion us dlrs by the year end central bank officials said tuesday
in other words lets tell washington to either lead follow or get out of the way nugent said that the financial losses to the state treasury by exempting marginal oil production from state severance taxes would be more than made up by stimulating new business for the oil supply and service industry
russ togs inc rts 4th qtr jan 31 net
japans main offers were to improve inspection systems on citrus fruits to aid ec exports to improve tariffs for some other farm produce to increase tariffs for leather footwear and to offer better trade terms for spain and portugal
agriculture ministry permanent secretary robbie mupawose said it had been found at a ranch in southwestern matabeleland province and that all measures were being taken to contain it from spreading
some people are nervous about what the government will do after the election one banker said
it will buy back the notes at par value plus accrued interest du pont overseas said
the yens rise to record highs and the us threat on friday to impose tariffs on japanese electronics goods in retaliation for japans alleged violation of a microchip trade pact are now giving nakasones critics fresh ammunition the analysts said
it gives them more room to address the dollar situation he said
providing consumers with the best service at the lowest price takes a back seat to such considerations they said
cabot medical corp cbot 1st qtr jan 31 net
this has resulted in a hardening of freight rates in those areas
avatar holdings inc said it is offering rights to buy 312 mln dlrs principle amount of 5 1 4 pct convertible subordinated debentures due 2007
comalco said it expected to pay at least a four cents per share final dividend delayed until july 1 to take advantage of proposed dividend imputation laws
us exporters report 104000 tonnes of corn sold to unknown destinations for 1986 87
below 20 degrees api the company will adjust its price 0020 ct per one tenth of a degree
allegis corp said it has created a limited partnership to sell selected hotels in canada to the public
after that director frank brand who had been executive vice president was named acting chief executive and director irving hellman was named acting chairman
the scrip offer values cheetham at about 110 mln dlrs based on acmexs current price of 720 dlrs and the cash offer at about 104 mln
allwaste alwso to acquire firm
for the two week bank statement period as a whole the daily borrowing average more than doubled to 381 mln dlrs from 160 in the prior period
he said usda has grain left in only about 250 barges and that under provisions of the program these all have to be emptied by the end of march
japan is taking the matter seriously he added
douglas said the coupon rate is the lowest obtained by the government on a sterling loan since 1971
the additional tax cuts brought forward to next january were no substitute for support for growth
british securities house barclays de zoete wedd bzw said it would open today a subsidiary office in amsterdam its first office in continental europe
precision target marketing inc ptmi 3rd qtr
white house spokesman marlin fitzwater said the administration had some disagreements with the trade bill that cleared a house subcommittee yesterday but generally felt good about the bill
in its monthly ussr grain situation and outlook usda said the increase reflected the return of the soviet union to the us corn market and continued purchases of both wheat and coarse grain from other major suppliers
at current prices china loses yuan on every tonne of grain it exports though it earns foreign exchange which it badly needs the trader said
mexicos nacional financiera nf the recipient of both loans will receive 185 mln dlrs to be used to provide long term credit and equity funds to small and medium sized industrial enterprises the bank said
opecs problem is not a price problem but a production issue and must be addressed in that way said paul mlotok oil analyst with salomon brothers inc
honeywell bull chairman jacques stern who is also chairman of bull said he believed the computer industry could be a fast growing market for companies that provide the type of computers customers want
market forecasts are for a deficit of around 250 mln stg after januarys small surplus
march us purchasing managers index up at 539
commenting on that meeting he said so far so good yesterday british farm minister michael jopling said enough ec states appeared to be opposed to the proposals by the commission for a 330 european currency unit a tonne tax on vegetable oils fats and marine oils for the moves to be defeated
the share holdings of the core companies should be equal watanabe said in a statement
but liquidity was tight in early business because banks excessively took up the bundesbanks offer for sale of treasury bills on friday
the norcros boards detailed views will be sent to shareholders when the formal offer document has been issued by williams
the conversion period will run from april 20 1987 to march 20 2002
study says oil price fall spurs bankruptcies
shr 127 dlrs vs two cts net 188 mln vs 357000 revs 1260 mln vs 985 mln avg shrs 147 mln vs 120 mln year shr loss 217 dlrs vs loss 65 cts net loss 284 mln vs loss 7225000 revs 4050 mln vs 3562 mln avg shrs 131 mln vs 122 mln note 1986 net both periods includes 150 mln dlr gain from sale of real estate
the spokesman said het comite finally selected the company for the test case from among the 80 lodged because the bill the firm received from the commodity board for payment of the levy contained significant currency distortions and involved grain from a wide variety of origins the name of the company is not being made public
as part of the effort to reduce the trade deficit the us has been pressing west germany and japan to stimulate their domestic demand for goods from the us and others
they added that rumours of a possible bid for allied have surfaced from time to time in the press and the london equity market ever since last years thwarted approach from elders ixl ltd elxas of australia
the magazine group had revenues of eight mln dlrs last year and employs 50 people telemedia said
world bank president barber conable pledged the banks support to help indonesia adjust to lower world oil prices but said further deregulation of its protected economy was needed
but dealers said it was possible the bundesbank would allocate funds at 36 pct rather than 355
following the exchange there will be 4969643 shares of circuit systems stock outstanding
bank of america nt and sas bacn west german branch said it is negotiating the sale of bankhaus centrale credit ag a small local west german bank it acquired in 1965 and of its west german visa credit card operation
cape cod bank and trust co ccbto 1st qtr net
national healthcare said it expects no material gain on loss on the sales and that substantially all proceeds will be used to reduce debt
im convinced were about to see an improvement on the import side
the conversion price has been set at 1590 yen the same as todays close
geodyne resources said a registration related to the stock to be exchanged for snyder has been filed with the sec but has not yet become effective
turkish ship headed for florida after explosion
donald regan president reagans former chief of staff said the government should loosen the money supply try to keep interest rates down and try to reduce the federal budget and trade deficits to avoid a recession
in todays statement metal traders also said it is reviewing possible acquisition of a mineral producer
weigh tronix inc wght 4th qtr net
atco ltd sees gain from sale
he said the 1986 drop in the inflation rate the first fall in a decade was due largely to lower world prices for oil and oil related items
this resulted in such deposits with domestic banks rising to 17830 billion yen by the end december a three fold increase on end december 1985 levels bankers said
the company said europe craft had sales of 70 mln dlrs last year
this takes the banks total help so far today to 219 mln stg and compares with its estimate of a 300 mln stg shortage
eurocity will also operate flights to duesseldorf and rotterdam
kidder peabody international ltd and montgomery securities are co managing the offering wyle also said
denmark in 600 mln crown eurobond deal
commerce secretary malcolm baldrige said a 07 pct rise in februarys index of leading indicators pointed to stronger economic growth in the first half of 1987
browing ferris bfi declares 2 for 1 split
macgregor sporting goods inc mgs 2nd qtr jan 31
manhattan federal court judge shirley wohl kram said she would rule monday on whether to grant a request to block a 78 dlr per share merger agreement between burlington industries inc and morgan stanely group inc ms the request to bar the merger was made by samjens acquisition corp a partnership formed by financier asher b
but with governments unable or unwilling to play a larger role bankers see no alternative to the advisory committee
missiles now used by iran had only a fraction of the explosive power of the styx and could sink a supertanker only with a lucky hit the paper said
britain and west germany told their european community partners they would strongly oppose major elements of proposals to rid the ec of its farm surpluses
us agriculture secretary richard lyng said it is too late to implement a full 0 92 acreage provision or decoupling for 1987 grain crops
first federal had assets of 1152 mln dlrs
romero said he would tell big buyers of copra meal in london that the philippines was doing its best to meet ec standards
it said its plans call for 1987 production of 30000 ounces of gold with product costs per ounce at about 200 dlrs
note 1986 qtr and nine mths include loss 131000 dlrs or one cent per share from unspecified extraordinary item
the 12 month period also included refund of prior years real estate tadxes of 136964
gencorp said it is seeking an injunction against the offer because it is violates federal securities laws and margin regulations
the controls will create more paperwork but the extra bank charges will not outweigh the profits of speculation said the manager of a european bank
ansbacher shares were up 4 1 2p to 90 1 2 helped by the announcement earlier today of a 1986 pretax profit rise to 556 mln stg from 274 mln in 1985
dealers said there is abundant liquidity on the bond market noting that this weeks monthly treasury tap issue of 1187 billion francs had a good reception and was fairly easily absorbed
us m 1 money supply rose 12 billion dlrs to a seasonally adjusted 7402 billion dlrs in the march 16 week the federal reserve said
the company said the partership is building and will operate a 30 megawatt electric generation facility in schuykill county penn scheduled to begin commercial operation in july
rural factories also subsidise grain output paying farmers bonuses to grow it
tons of toys inc tonso 1st qtr aug 31 loss
in volume terms gold holdings rose to 551 mln ounces in march from 526 mln ounces in february valued at 75724 rand an ounce for march versus 75459 rand an ounce for february
it is located 30 kms east of the adelaide river at mt
skorea sees gnp growth more than 10 pct this year
hinrichs said the 1986 turnover increase had brought the first hesitant signs of improvement in earnings in the west german retail sector
he said rural industries in other suburbs also set aside money for grain and pay the salaries of some of the 70000 workers available to help farmers
they said chung would leave monday to attend the international monetary funds interim committee meeting and to hold talks with baker and other us officials on ways to reduce the surplus
its too bad because the tax benefits fell on the floor
a team of california researchers said that they have developed a better faster test for detecting sickle cell anemia in unborn children than existing procedures
switzerlands three major banks have offered argentina an extra 1105 mln swiss franc credit to help finance the building of a heavy water plant there by gebrueder sulzer ag sulzz union bank of switzerland ubs said
the balance of the offering is owned directly and indirectly by various trusts of jean and charles degunzberg
it would be blatantly inconsistent with obligations of the ec under the general agreement on tariffs and trade gatt the resolution said and constitute another egregious attempt to impose ec agricultural costs on trading partners
joe gold said if the necessary operating permits were granted in time it would start gold production in the second half of the year ending october 31 1988 at an annual rate of about 40000 troy ounces
frontier frtro buys malpractice business
she said there was some resistance to further climbs
sarrazin told the business daily handelsblatt that brazils interest payments moratorium had cost it the goodwill of many banks
extra oil inventories are needed during a time of crisis like this and just general nervousness over an incident that could disrupt oil supplies drives prices up knuettel said
the fed faces a need to add a large volume of reserves this statement period to offset a drain caused by rising treasury balances at the fed after the june 15 tax date
the report said trade contacts agree that about 15 pct of the orange output in calabria was damaged by frost
net 13185000 vs 6715000 nine mths net 262 mln vs 153 mln note company is owned by a consortium of european banks
new tender participants are vickers da costa ltd bache securities ltd smith barney harris upham international inc jardine fleming securities ltd kidder peabody and co ltd goldman sachs international corp morgan stanley co ltd sg warburg and co ltd first boston co ltd kleinwort benson international inc schroder securities ltd deutsche bank ag ef hutton ltd shearson lehman brothers asia inc dresdner bank ag swiss union philips and drew ltd sogen security corp and swiss bank corp international asia inc
speaking at the 14th annual congress of the interarab cambist association viermetz said an agreement reached last month among major industrial nations to steady the dollar around current levels left many questions unanswered
one person was killed
major market index futures increased activity 37 pct during the month with 194697 contracts changing hands
however argyll will have the option to raise funds through an issuer set placement under which the underwriters can take up to their available commitment under the standby
merrill lynch pierce fenner and smith is a subsidiary of merrill lynch and co inc
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
south koreas gross national product gnp is forecast to grow by nine pct in 1987 surpassing the governments original forecast of eight pct and against a 125 pct rise in 1986 an economic planning board report said
1353 mln
the united states which until recently has been reluctant to criticize japans fiscal stance joined in the attack he said
total erickson resources ltd and consolidated silver standard mines ltd cdsv said that total erickson has purchased all consolidateds interests in its dome mountain property for 60000 total erickson shares and 70000 dlrs in cash
economies of scale from the expansion should pay back net expansion cost in less than one year westmin said
the company also said that at its april 29 annual meeting shareholders will vote on increasing the companys authorized common stock to 45 mln shares from 15 mln
oklahoma weekly crop report
qtly div 14 cts vs 14 cts prior pay april eight record march 26
fed not expected to take money market action
uscongressman to see reagan on gulf reflagging
a new international natural rubber agreement inra was formally adopted by a united nations conference today
after her talks with ryzhkov thatcher and the soviet premier were joined for the signing of agreements covering new scientific and cultural exchanges by kremlin leader mikhail gorbachev who had nine hours of talks with her yesterday
if a bidder makes a material change near or at the end of its offer it will have to extend the offer to permit adequate dissemination the sec said
the texas weekly usda state crop report said stormy winter weather limited fieldwork before conditions improved later in the week
schlesinger said the contraction in the first quarter was mainly due to adverse weather conditions just as occured in 1986
the bank of japan bought a modest amount of dollars at around 14510 yen just after the market here opened dealers said
but most japanese investors in us bonds are still wiating to see if the dollar really is stable he said
nordson corp said its board declared a 3 for 2 stock split to be paid as a 50 pct stock dividend on april 30 to shareholders of record april 10
feedgrains x 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 1198 1198 1281 1281 harvested 1020 1020 1118 1118 yld tonnes 248 248 245 245 supply mln tonnes start stocks 1264 1264 575 575 production 2524 2524 2744 2744 imports 06 06 09 09 total 3794 3794 3327 3327 x includes corn sorghum barley oats
effective annual yield after tax for the first cts issue will be 966 pct
the 357 mln crowns paid in goodwill had a very limited effect on the 1986 result the novo statement said
agriculture would also benefit from more rapid decisions in complaints of unfair foreign trade practices or injury from imports
if they japan were to retaliate it would probably be on something like american agricultural products he said
as reported earlier crime control is in default on approximately 33 mln dlrs of bank debt and in default under the indenture governing its convertible subordinated debentures
porta systems corp psi 4th qtr jan 31 net
shr loss 384 dlrs vs nil net loss 56879000 vs profit 23000 rev 103 mln vs 177 mln year shr loss 460 dlrs vs profit 14 cts net loss 67818000 vs profit 1807000 rev 509 mln vs 561 mln avg shares 14734000 vs 12801000 note fourth qtr net includes a one time restructuring charge of 452 mln dlrs
standard and poors corp said it may downgrade afg industries inc and gencorp inc because a partnership affiliated with afg and wagner and brown made a 22 billion dlr tender offer to acquire gencorp
sight deposits of commercial banks at the swiss national bank fell 288 billion swiss francs in the first 10 days of march to 765 billion the national bank said
co leads are anz merchant bank banque nationale de paris hambros bank ltd and sg warburg and co ltd
cooper basin natural gas reserves upgraded
the sterling yen rate was about 24034 44 today up from 23450 at the start of the calendar year and a narrow range of 230 to 234 late last year
asked if he saw the 18 dlr per barrel benchmark as a first step towards higher world oil prices king fahd said it was not for saudi arabia but for all opec countries to determine such issues
it will issue a 25 billion yen 15 year bond through public placement with yamaichi securities co ltd as lead manager
nine months net includes gain from discontinued operations of 38 mln dlrs or 34 cts a share vs 731000 dlrs or seven cts a share in the first nine months of fiscal 1985
permian buys transports and resells crude oil
this was definitely a budget for lower sterling interest rates said a sterling analyst at a uk merchant bank
eib plans 300 mln guilder bond issue due 1995
he added that tomorrows ec official journal will contain notice of special agricultural measures of a purely technical nature which will come into effect on july 1 unless the ministers reach an accord
woods said many nations hong kong canada switzerland singapore sweden malaysia and nigeria had supported the ec complaint during the heated council debate
german minister martin bangemann said his countrys steel industry the largest in the ec should not suffer proportionately more than others german sources said
chemical chl marine midland mm cut prime
besides its medium and long term debt first interstate said it also has 165 mln dlrs in short term loans or trade lines in brazil
the commission which slashed its growth forecast for west germany to two per cent from 32 per cent has made clear it feels bonn has room to introduce additional measures to stimulate its economy that would benefit the rest of europe
a lot of soymeal dealers are just getting very worried about where processors will get their soybeans this summer one illinois soyproduct dealer said
leroy a
in addition the company said rising product prices and demand for pulp and paper are reflected in all the major world markets except in the case of some light weighted paper grades where overcapacity remains a problem
if confirmed the soaring 1987 current account surplus seemed certain to trigger tougher pressure from the united states which recorded a 74 billion dlr trade deficit with seoul last year government economists said
if you are not exploring you are not going to find anything he noted
the bank of japan decided at a policy board meeting to promote further interest rate liberalisation by lowering the minimum denomination of regulation free large deposits and by raising the interest rate ceiling on money market certificates mmcs a central bank official said
remaining interest will be deferred until jan 1 1991
they noted heavy buying in hk hotel shares after an announcement by evergos china entertainment and land investment co ltd unit that it bought about 20 pct of hk hotels from the firms deputy chairman david liang for 106 billion dlrs
the shares are worth some 500 mln pesos at recent prices
cna income shares cnn files for note offering
however sen
shr 57 cts vs 54 cts net 393 mln vs 373 mln sales 5409 mln vs 4885 mln nine mths shr 230 dlrs vs 158 dlrs net 1588 mln vs 1087 mln sales 167 billion vs 160 billion
comb said the transaction is subject to the parties entering into an agreement which would be subject to approval by its shareholders and regulatory agencies
the 18 dlr a share offer is being extended for elders to obtain canadian federal government approval for the acquisition of control of carling
gencorp inc and continental ag of hanover west germany jointy announced they signed an agreement for continental to buy gencorps general tire inc subsidiary for 650 mln dlrs in cash
elders says neither it nor carling knows the identity of the bidder for carlings preferred shares
instinet said the meeting date is subject to adjustment based on the length of time needed for the us securities and exchange commission to complete its review of the filing of merger proxy materials which instinet expects to make before the end of march
it was chinas largest joint venture so far they said
under the new law the government will insure japanese companies who pre pay for imports against loss arising from everything from war to bankruptcy of the foreign firm they are dealing with
in addition sales of soybeans totaled 68200 tonnes it said
managing board chairman peter schutz said domestic sales were expected to fall to 9000 in the year ending july 31 from 11340 in 1985 86
fed funds will be coming under relatively intense pressure said salomons di clemente noting the approaching month and quarter end and the round of holidays and tax dates in april
earlier this week moodys and s and p upgraded the companys debt
amcast industrial corp acsto 4th qtr loss
easco hand tools inc of hunt valley md filed with the securities and exchange commission for the sale of 67275000 dlrs in common stock its first public stock offering
the rights will entitle holders of northeasts common shares to purchase additional shares at an exercise price of 60 dlrs a share the company said
new dutch advances total four billion guilders
the decline in gold production last year was due to a four pct drop in tonnage milled and a seven pct decline in grade
crude oil and natural gas exports totalled 456 billion crowns in february against 510 billion in january and 536 billion a year ago
the new company will have 3000 employees and be headquartered in long beach calif the company said
as a result of the increased loan loss provision the bank said the allowance for loan losses will increase from 14 pct to 25 pct of the banks total loans
toby roth
these ministries are trying to determine which market rates should be considered when setting the bureaus deposit rate the ministry sources said
however sale of japanese farmland is strictly controlled by the government so i began to look for the land in the us to make my dream to own farm land come true nakamura said hundreds of companies exist in the us to sell farmland to investors as more and more farmers face difficulties due to the recession in us agriculture
a roughly even bond stock portfolio split also is urged by wright investors service with 425 billion dlrs under management but it is more optimistic on bonds than stocks
this brings the banks total help today to some 136 mln stg and compares with its forecast of a 400 mln stg shortage in the system
landes has requested the company to implement a program to maximize shareholder values which might include a sale of all or part of the company or a liquidation he said in a filing with the securities and exchange commission
south american fish meal production at record high
asked whether a dollar yen rate of 148 or 149 reflected economic fundamentals he said current rates almost reflect fundamentals
at the same time the sec is being pressed by some lawmakers to put a stop to abusive tactics in corporate takeover contests as an unrelenting wave of such takeovers steadily reshapes the us corporate landscape
the khark iii owned by the national iranian tanker co gave the position of the mine as 27 degrees 14 minutes north 5206 east
atlas said negotiations were continuing on the acquisition by bond of the companys existing bank loans and their restructuring into a gold loan
unadjusted annual inflation for the seven leading industrialised nations in january was running at 44 pct in italy 39 pct in britain and canada three pct in france 14 pct in the us minus 08 pct in west germany and minus 15 pct in japan the oecd said
exports of the following commodities between start of current seasons and april 2 with comparisons as reported to usda by exporters in thousand tonnes unless noted 4 2 87 prev wk 4 3 86 wheat 210446 203983 197258 soybeans 143342 140635 146984 corn 202960 191946 251826 x sorghum 32225 31497 31689 x soybean oil 1384 1358 1799 soybean meal 40980 38806 31413 cotton 43331 42047 15104 x 2059300 tonnes of corn and 763800 tonnes of sorghum added to reflect change in marketing year to sept aug
qtly div 50 cts vs 50 cts prior pay may 15 record april seven note partnership said holders of common and preference units for all of 1987 are expected to have no net taxable income
originally occidental had planned to offer 30 mln shares
but 1987s rating changes will not be as skewed as 1986s 21 to one ratio of downgrades to upgrades s and p predicted
taiwan says us wants taiwan dollar to appreciate
taiwan imports more than 90 pct of its soybeans from the us and the rest from south america
outstanding yen cash bonds worldwide stand at around 140000 billion yen with most held in japan they said
friday the stock closed 1 5 8 points higher
we checked that the paris meeting of the group of six industrial nations took place exactly one month after the german cut in rates
the insurance holding company had net earnings of 4496 mln dlrs or or 742 per share in 1986
iraqi warplanes also struck irans offshore oilfields at nowruz cyrus and ardeshir in northern gulf some 80 km 50 miles west of kharg island todays communique said
it had opened here at 14185 yen
cuban sugar export figures for january suggest that this years crop may be at least as large as last years 735 mln tonnes according to sugar analysts
the february increase left the index at 1871 over its 1967 base of 100 and was led by a rise in stock prices
if we are to achieve our true potential the floor members must give the market much more time and attention he added
a high level meeting last week which included the secretary of agriculture and other senior usda officials along with leaders of the major soybean lobbying groups failed to reach any decision on what should be done about the soybean loan level participants at the meeting told 
on debt lawson said he expected a three point british plan to alleviate the burden of the poorest sub saharan countries to make progress in venice
the bank of japan will sell tomorrow a total of 800 billion yen worth of financing bills from its holdings to help absorb a projected money market surplus of 1300 billion yen money traders said
on march 26 the company announced the resignations of bernard weinblatt as president and a director and hecht as chief executive officer
beneficial corp to sell western national life for 275 mln dlrs
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
campeau announced its first agreement to sell an allied unit in april the company said
were getting into a period when they brazil are starting to harvest and starting to export eshleman said
this is about where the rate has been since early november
trading was in fact rather light against currencies other than the yen the dollar holding little changed through the day
atlantic richfields arco oil and gas co said it increased contract prices for crude oil by 50 cts a barrel effective today
but some analysts said japans attempt to mollify the us was a double edged sword and might be read at a subtle form of trade retaliation for the tariffs proposed by the us as production in japan is cut these analysts argue prices will rise in the us and few american semiconductor manufactures will be able to take up the slack since most long ago exited the market for memory chips
mine officials in malaysia the worlds leading producer said only 188 mines will be allowed to operate to ensure that output is limited to around 31500 tonnes in the year started march 1
a trade led boom in the us is unlikely this year or next because growth in net exports will merely offset a dramatic slowdown in consumer spending and other sectors of the economy bank of america said in its latest economic report
forstmann little and co to sell unit
theyre clearly committed to enhancing shareholder value however some analysts worry about how gm will pay for the buyback and whether new models will enable the carmaker to recapture lost market share
republicbank with total assets of about 21 billion dlrs announced in december an agreement with interfirst corp ifc to form first republicbank corp
banks must make their bids by 1000 gmt tomorrow and funds allocated will be credited to accounts on wednesday
slifer sees stronger growth of 10 pct in m 1 and five pct or less for m 2 and m 3 but the rates would still be moderate enough to encourage the fed to ease policy if gross national product for the first quarter proved to be weak
it said the new agreement more than doubles its previous 14 mln dlrs line of credit
shr profit four cts vs loss 16 cts net profit 155383 vs loss 577336 note net includes tax credit of 51226 dlrs or one ct per share
mellon bank mel sells five year deposit notes
in a letter calling for the special committee meeting washington charged france west germany the uk spain and the ec commission with unfair practices on behalf of airbus
senior eurosterling sources noted that bond prices fell back today more or less in line with losses seen on the uk government bond market around 5 8 point lower at the longer end of the eurosterling market
the losses in 1986 and those carried over from 1985 made it necessary to reduce capital by 50 pct he said
the proposal to be published in the federal register next week requests written congressional and public comment within 60 days and deals with uranium ore and oxide that is imported for us processing and exporting to third countries
the group ended the year with a cash surplus higher at 54 mln stg compared to 26 mln previously after capital expenditure which rose to 54 mln from 43 mln
year to end dec 1986 proposed dividend 45 francs vs 3450 francs note full name of company is moet hennessy sa mhsppa
each bond will carry a warrant permitting subscription on december 14 1987 to a fixed rate bond which will be integrated with the previous issue at an issue price of 9818 pct and with a nominal coupon of 850 pct
kay said the firm has annual sales of about 15 mln dlrs
ecuador needs 120 mln dlrs to repair the damage to its oil export pipeline caused by last weeks earthquake which will stop crude exports for five months energy and mines minister javier espinosa teran said
under review are the a 1 senior debt of issues guaranteed by british petroleum including eurobonds of bp capital bv debentures of bp north america finance corp eurodebt of british petroleum bv bpca finance ltd and bp canadian holdings ltd debentures and medium term notes of bp north america inc
the company said the unit is to be sold sometime this year so was included as discontinued operations in its 1986 results announced earlier today
royex said that if it gains four mln corona common shares its interest in corona will increase to 50 pct from 38 pct
short term interest rates are forecast to remain between 20 and 25 pct until the june quarter but will decline over the second half of 1987 88 to between 16 and 18 pct
times mirror co tmc quarterly dividend
pacific lighting corp plt qtly dividend
italys barley crop is generally in good condition and harvesting is expected to begin shortly the agricultural marketing information and research board irvam said
cable shares at 1100 gmt were quoted nine pence firmer at 374p
soviet data show the machine building industry which makes machine tools instruments and other engineering goods increased output by 33 pct in the first nine months of 1987 compared with the same period last year
however some analysts said recent sharp losses in bond futures have left the bond market somewhat oversold and the contracts on long term debt could stage a recovery before resuming their decline
david mulford assistant secretary of the us treasury told the euromoney conference that ideas such as pins should be part of a menu of options available to banks instead of pure new money packages
in february locally heavy showers may have caused flooding in java it said
there were no shipments of us grain or soybeans to the soviet union in the week ended march 12 according to the us agriculture departments latest export sales report
thas said 32 of the 543 passsengers and crew were confirmed dead and 160 were missing bringing the total of dead or presumed dead to 192
two people were killed in a previous explosion and fire at the plant on march 13
share earnings for both periods reflect preferred stock dividends
mtech corp mtch offering of 75 mln dlrs of convertible subordinated debentures due march 15 2012 through a group led by alex
india also granted the sellers options to sell twice that amount at the same price but for april may shipment
dividend payable after general meeting on june 4 books close april 22 to may 5
shr 132 dlrs vs 126 dlrs net 212 mln vs 174 mln avg shrs 161 mln vs 138 mln assets 100 billion vs 84 billion deposits 72 billion vs 61 billion loans 67 billion up 26 pct note results restated for pooled acquisitions of shawmut home bank and fidelity trust co and include first gibraltar mortgage corp from december 30 1986 purchase
jiang told general manager michael nelson that he hoped work on the railway system to ease shanghais transport problems would start within two years
miller noted secretary schultz is scheduled to meet next month with representatives of the soviet union and the nawg wanted to be certain the secretary was aware of our concerns regarding the reopening of wheat trade with the soviet union the annual spring nawg board of directors meeting is held in washington to allow grower leaders from around the country to meet with their state congressional delegations and members of the executive branch
however reports from farms indicate moisture levels are now generally back to near normal levels and that current flowering and pod setting is good which should result in mature fruit from august through september
so far the banks have been mindful of the importance of preserving the entrepreneurial aspect of sharebroking he said
constellation bancorp cstlo 3rd qtr net
it said in a report that because of an economic recovery and higher foreign exchange reserves the malaysian ringgit is unlikely to face devaluation in the near future
grace said the transaction involves the combination of its cocoa products division and two berisford cocoa processing units which would be operated under grace management
the dollars plunge and low yields on us bonds will further promote diversification into other foreign investments as well as call back funds into the domestic bond and stock markets from overseas bond markets securities bond managers said
digital equipment dec to redeem debentures
browning ferris industries inc bfi in payout
the agency received the shares as part of its 45 billion dlrs 1984 bailout of the bank
attempts last week to win a compromise on both the bond issue and the larger dispute failed james kinnear texacos president and chief executive officer told reporters
at the same time the banks would be expected to allow the ecgd to realise additional savings by refinancing existing government backed credit in the capital markets
the average forecast called for a 22 billion dlr m 1 rise
a joint venture controlled by dallas investor bradbury dyer said it had acquired 377000 shares or 99 pct of the common stock of munford inc
general instrument corps government systems division said it received a 359 mln dlr contract from the naval air command systems
washington has threatened to scuttle a 20 25 billion dlr four year capital replenishment for the bank if the veto issue is not resolved
however he said that when the household mortgage co does make fixed rate mortgages it is likely to securitise them
the charges on cargo handled by union workers will be reduced to 285 dlrs a ton from 585 dlrs a ton effective april one according to the agreement between the union and shippers
pat roberts r kan said the measure would involve the federal government in deciding and defining who a family farmer is roberts said the bill for example would restrict program payments to 500 acres of wheat production in western kansas
ratings under review include the companys first mortgage bonds and secured pollution control revenue bonds currently aa 3
us and japanese officials meet tomorrow to try to settle a dispute over semiconductor trade and to cut short the 300 mln dlr penalty tariffs president reagan has ordered imposed on japanese exports
shl systemhouse inc said it filed a registration statement with the securities and exchange commission relating to common shares owned by kinburn technology corp shl said the filing was made to satisfy exchange rights under a proposed offering of us 100 mln dlrs principal amount of exchangeable secured debentures due 2007 by kinburn
volcker says restrictive monetary policy would hurt investment
quaker oats oat files shelf registration
haiti has provisionally applied to the icco as an exporting member and accounts for 092 pct of world cocoa exports they said
niagara mohawk corp said it is cautiously optimistic about results improvements for 1987 and said it is studying measures to cut operating costs
the state owned british steel corporation benefitting from massive recent write offs of its accumulated debts is currently one of the few ec steel companies in the black
christians said this 193 billion mark rise was partly due to its increased activity in international share placements with some shares such as those from fiat spas international placement last year remaining on its books
the price was last changed on september 30
he also said increasing acreage set aside requirements by five pct for wheat and feedgrains at program sign up was a move that could save about one billion dlrs but added that he would not be in favor of such a change
the company did not say how much the atlantic division lost
the possible interest rate declines are a major reason why leading us farm organizations such as the american farm bureau federation have recently endorsed the idea
in a newspaper advertisement mts said the offer and withdrawal rights expire april three unless extended
payment is due march 17
pdvsa officials said that among those who bid for the partnership is a consortium between agip carbone a subsidiary of italys ente nazionale idrocarburi eni and atlantic richfield arc of the united states
cyprus minerals co said it was awarded a five year contract to supply 360000 tons of steam coal to niagara mohawk power co nmk the company is currently shipping 240000 tons of steam coal a year to niagara mohawk under a contract signed in 1985
dieppe one two ports italian adriatic 9500 11000 mt bulk wheat 3000 2000 6 12 4
on the failure of the recent ico talks arango said colombia understandably felt frustrated at not having managed to force a compromise
velayati visiting the united arab emirates on the first leg of a gulf tour told reporters iran had the capabilities and means to prevent any interference
current production of three mln bpd includes oil from the neutral zone shared with kuwait but not sales from floating storage nazer said
shr 52 cts vs 45 cts net 109 mln vs 9498000 assets 360 billion vs 325 billion deposits 245 billion vs 223 billion loans 216 billion vs 167 billion note full name of company is central bancshares of the south inc
uk wheat futures also rallied to end the morning unchanged to 005 stg easier
shr 38 cts net 13 mln vs 668000 nine mths shr 84 cts net 2892000 vs 2200000 note company converted to stock ownership in july
the important implication of the maekawa report is that it is finally looking to let japanese enjoy the fruits of their labour said philip caldwell senior managing director of shearson lehman brothers
company became public feb 14 1986
stet and thomson said last thursday they were negotiating an accord involving their respective subsidiaries sgs microelettronica spa and thomson semiconducteurs in the civil semiconductor field
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
banks which bid for a total 86 billion marks liquidity will be credited with the funds allocated tomorrow and must buy back securities pledged on april 22
unless oilseed crushing increases sharply he said disappearance of vegetable oils could exceed production by 600000 tonnes the largest deficit since 1976
new milford savings bank 1st qtr net
alcan aluminium ltd is closing its aluminum smelter in ludwigshafen west germany this june due to high operating costs an alcan spokesman said
us banks have 50 pct representation on the committee while holding only 35 pct of brazils debt to banks he said adding this is not fair with the european and japanese banks the committee had played a useful role in 1982 and 1983 however
the company said it hopes to complete the acquisition in may subject to its review of frick and frigid and regulatory approvals
the bank of england said it forecast a shortage of around 350 mln stg in the money market today
the stockholders according to a statement have organized a steering committee
period ended december 31
the world bank report said the governments policies had reduced inflation and short term increases in consumption at the apparent cost of price distortions overvaluation of the currency balance of payments disequilibrium reserve losses and sharply diminished creditworthiness
santa fe energy partners lp sfp qtly payout
it said the gleason division manufactures automated assembly and test systems used in the production of small to medium size components for a number of industries including automotive electronic and appliance
southmark said the offers record date is may 1 with an ex dividend date of april 27 adding that the it will issue the rights to shareholders on may 6 and the offer will expire on may 22
it said it has entered into preliminary discussions with mitsui on the formation of a joint venture to finance the accelerated development of imatrons technology and its commercialization in japan
prices rose on the danish bond market after prime minister poul schlueter said the government was prepared to impose further austerity measures to limit domestic consumption if the economy did not improve over the summer
they expected talks on stock verification to take up the remainder of todays session delegates said
pension insurance group pgai 4th qtr net
shr 95 cts vs 71 cts net 424 mln vs 345 mln assets 1861 billion vs 1566 billion
the ministry had originally estimated that industrial production fell 30 pct in january
noranda sets temporary mine shutdown
the company said petroleum sales slipped slightly to 4043 mln barrels per day from 4082 mln bpd in 1985 while crude runs rose to 30 mln bpd from 29 mln bpd the previous year
iranian and western diplomats say iraq started the war by invading irans territory in 1980
the treasury described the meeting as a very positive private meeting in frankfurt west germany which had been agreed upon last week
in its weekly petroleum status report the department of energy agency said gasoline stocks were off 500000 barrels in the week to 2510 mln barrels and refinery crude oil stocks fell 12 mln barrels to 3318 mln
after completion of the transaction tradevest would own 90 pct of the issued outstanding stock of madeira
horizon bancorp hzb 3rd qtr net
the overall january deficit of 148 billion dlrs will be revised but the february figure will be a final one officials said
finnish export corp is issuing a 20 billion yen bond maturing april 23 1992 carrying a 4 3 8 pct coupon and priced at 102 3 4 said yamaichi securities international europe ltd
the aid package called the canadian exploration and development incentive program will restrict the total payments that any individual company can claim to 10 mln dlrs a year
market forecasts had been for a worse outcome with expectations of a deficit in visible trade averaging about 750 mln stg against the official figure of 224 mln stg sharply narrower than januarys 527 mln deficit
congress would approve an initial us subscription of 22 mln dlrs
he said that represents a total sale worth 600 mln dlrs
two traders who asked not to be named said separately brazil is expected to attend the meeting along with most or all of the central american producers
he said the company is not currently negotiating any more acquisitions in canada but has a team of officials evaluating possible purchases of wines spirits soft drinks or food concerns
american building maintenance abm 1st qtr net
thermo electron tmo sells convertible debt
us treasury aide warns on inflation
moodys affirms ratings of chrysler and units affects 12 billion dlrs of debt
hughes tool co said its board voted at a special meeting last night to approve a new agreement with regulators that would allow the company to complete its proposed merger with baker international corp bko the agreement approved by the us department of justice yesterday will give the merged company baker hughes six months instead of three to sell certain assets
since then however very wet weather has severely restricted beet lifting
that program now has a target of 563 mln shares with the latest stock split
payment date is also march 25
we would very much like to do something to respond to that in an apparent effort to prevent the chip dispute from spreading to other areas miti officials sought to depict the us action as a severe warning to japanese semiconductor makers not to the government
the us position has if anything hardened while the new brazilian coffee institute president has adopted the least negotiable position of any of his predecessors one trader said
a milan banker shared stadelmanns view saying he expects a dollar yen range of 140 150 in the short term
under the tender the company will repurchase the 10 5 8 pct notes at 111650 dlrs per 1000 dlrs principal amount plus accrued interest to date of payment
the bonds mature respectively in may 1989 1990 and 1991 and are being syndicated as a package but quoted separately
us naval forces destroyed an offshore oil platform and raided another in what the administration called a measured and appropriate response to an iranian silkworm missile attack last friday on a us flagged tanker in kuwaiti waters
despite some late signs that prices were recovering last week todays erratic trade provided a similarly mixed final picture with longer dated frns still clearly under pressure
its deficit with the european monetary cooperation fund fecom remained unchanged in february at 3390 billion francs
the narragansett taft group said its letter to tafts board states the group intends to return control over a significant portion of the companys equity to the taft family while providing other stockholders with a means of realizing a very attractive value for their shares
the dividend rate on the shares is reset by auction every 49 days
csr is also offering one share currently worth 404 dlrs plus 120 cash for every two pioneer shares which values pioneer at 262 per share
c i l added that the final price could be less however depending on an ontario court ruling resulting from a previously reported legal action launched by c i l
the reduction follows similar moves from the three other british clearing banks
west germany and ireland are objecting to the new rules governing the sales of surplus butter into cold stores but the commission is loathe to abandon its position as the accord has been used as the inspiration for andriessens latest package
he told a press conference that the growth of japanese money supply remains high
a portion of the proceeds will be used to acquire all of the outstanding capital stock of network switching systems inc
he said the fcl offer was better than amcors because it would have been made to all nzfp shareholders but he gave no further details
of the kingdoms nine joint venture banks which operate on the gregorian calendar year four have already reported and revealed a further profits decline or net loss for 1986 at the expense of increased provisions
qtly div 7 1 2 cts vs six cts prior pay june 3 record may 15 note full name allegheny and western energy corp
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
golden enterprises inc gldc 3rd qtr feb 28 net
it should provide currency and interest rate futures and incorporate the existing yen bond futures and planned stock index futures contracts
economics ministry spokesman dieter vogel said in a statement bangemann had contacted him from new zealand where he is attending a general agreement on trade and tariffs gatt ministerial meeting to deny giving the interview to the conservative daily die welt
no other terms were disclosed
the agent said honduras is seeking us no
iron output is planned to grow at eight pct a year reaching 45 mln tonnes at the end of the decade
between that date and the end of last year some 430 mln dlrs flowed into the country on new foreign currency loans
us junk bonds unaffected by texaco tx filing
he said that morgan stanley and co inc and salomon brothers inc bought most of the bonds
period ended april 30 shr not given net 2600000 vs 1600000 revs 181 mln vs 151 mln six mths shr 21 cts vs 42 cts net 3800000 vs 5500000 revs 329 mln vs 358 mln
inverness buys assets from parent silverton
shr 19 cts vs 16 cts net 502000 dlrs vs 401000 dlrs revs 88 mln dlrs vs 67 mln dlrs six mths shr 38 cts vs 29 cts net 989000 dlrs vs 745000 dlrs revs 163 mln dlrs vs 125 mln dlrs
gemina has no comment on ambrosiano report
the us agriculture department said it has extended until april 17 the date by which agricultural stabilization and conservation county offices must determine eligibility of individuals or other entities for payments under 1987 farm programs
the supreme soviet convened on monday to endorse the 1988 budget and plan
the managua meeting was attended by representatives from brazil mexico guatemala el salvador honduras costa rica nicaragua and panama the latter represented at the meeting merely as an observer
the eiu said in its world trade forecast it revised oecd economic growth downwards to 25 pct this year compared with a 28 pct growth forecast in december
a move by these industries to countries outside the ec cannot be ruled out he added
the 13 nation opec agreed in december to cut its production ceiling by 725 pct to 158 mln bpd and abide by fixed prices averaging 18 dlrs a barrel from february 1
western diplomats in the region say iran was responsible but tehran has blamed its gulf war enemy iraq
caesars world inc said its board unanimously rejected a 28 dlr a share takeover offer by new york investor martin t
it makes sense said james parker of robinson humphrey
terms of the debt securities will be determined by market conditions at the time of sale the company said
uspci upc seen rejecting union pacific bid
the major story will be a rebound in its mid range business he said sales of ibms mid range computers fell about 13 pct in 1986
the prospect of bearish data did not trouble the bond market much yesterday with the 30 year treasury bond slipping just 7 32 to 99 28 32 for a yield of 751 pct
us military leader predicts iranian response
im not so sure that the fed is engineering a tighter policy to help the dollar as some suspect said sullivan of dean witter
leucadia national corp a us financial services holding company has received a 50 mln dlr five year revolving underwriting facility ruf said merrill lynch capital markets as arranger
dome does not consider transcanadas proposal a formal offer because the pipeline utilitys announcement breached a confidential agreement between the two companies he said
bristol and west building society issues cds
qtly div 54 cts vs 54 cts prior qtr pay 1 may record 10 april
vms mortgage lp vmlpz monthly cash payout
enquiries rouen hamburg india 14000 mt bagged sugar 750 1000 15 25 4 a c woodhouse drake and carey
dart said under their present agreements none of these officers have any right to such accelerated payments
anitec image technology corp antc sets payout
computer network technology cmnt 4th qtr loss
some officials said it already is late for implementation of a 0 92 in 1987 because farm program signup ends march 31 for wheat and feedgrains
the pay dispute went before a hearing of the arbitration commission today
the sources said they believed the limit of currency market intervention may be being reached after they saw recent concerted market action by central banks of major industrial nations was increasingly ineffective in propping up the battered dollar
revenues fell to 532807 dlrs from 769465 dlrs a year ago
the major market maker has traditionally been london based consortium bank saudi international bank but the kingdom joint venture saudi american bank samba also upgraded its london operation to deposit taker status in mid february
they anticipate this would appear around june and it has prompted keen demand in the july biffex contract despite it normally being a slack time in the shipping year
looking ahead over the next 18 months the oecd expected economic performance to improve partly as a result of tighter fiscal and monetary policy and a substantial improvement in trade volumes
the bank said the reduction reflected the recent downturn in money market rates the improved economic outlook and adequate liquidity in the second quarter tax rundown period
ph glatfelter glt acquiring ecusta
the brazilian coffee institute ibc is unlikely to disclose its future export policy until the end of next week at the earliest trade sources said
trico tro gets chinese contract
that will be a 937 pct increase on 1986 when us imports totalled 150000 tonnes an official said
the committee was meeting in new york this afternoon and could put its final stamp of approval of the deal later today the bankers said
the trade had expected deferred contracts to decline on the usda report of a 15 pct rise in cattle placements in february from a year ago
the summit has been dominated by lengthy talks on moves to alter the entire system of financing the 12 nation group and plugging a 57 billion dollar budget shortfall for 1987
in a twin announcement csr already australias largest sugar refiner made a 220 dlr a share bid for the 70 pct it does not already hold in pioneer sugar mills ltd
the timing of the proposal is off said one aide to a house agriculture committee member
the department had given its tentative approval of the acquisition in january
newmont mining corp nem said magma copper co anticipates being able to produce copper at a profit by 1991 assuming copper prices remain at their current levels
explosion at bp oil refinery in scotland
french finance group sdr issues domestic bond
paine webber residential realty inc pwm div
a presidential spokesman said president jose sarney had authorised the governments economic team to prepare the new plan as soon as possible
feds heller says he wants to see stronger japanese demand for american goods
texaco inc tx said its decision to file for protection under chapter 11 of the us bankruptcy code will not affect the majority of its businesses
qtly div 18 cts vs 18 cts prior pay april 15 record march 31
versatile to sell unit to vicon
ryder system inc is raising 175 mln dlrs through offerings of notes and bonds said lead manager salomon brothers inc
the company saw good chances in the automation sector which dieter said had become one of mannesmanns strategic aims he said the companys drive to combine activities in mechanical and electronic engineering was a particular plus point for mannesmann
general development corp cdv 3rd qtr net
proven reserves as of december 31 1985 were 978000 tons grading an average of 0194 ounces of gold a ton equivalent to about two years future production
this was a concerted action
azraai said the government will cut the size of the public sector and privatize those operations which may be better run by the private sector
lawson told the committee which is a tripartite forum of government unions and industry that the pound would be kept near its present level by a mixture of interest rates and intervention in the foreign exchange markets
non oil commodity prices will show a modest dollar price increase in 1988 for the first time since 1984 the eiu said
the rate was last adjusted on march 9 when it was cut to 7 3 4 pct from the eight pct rate set in january
martin of phillips and drew said the dampening effect of a sterling rise on consumer price inflation would not materialise for at least nine months while its hampering impact on manufactured exports would show almost immediately
the decision is up to the rhode island legislature
if we are to take effective remedial action when there are significant deviations from an intended course then we must have more definitive ways of indentifying the right course for key variables he said
quebec february housing starts fall
monsod said ongpin was looking at the exchange rate from the point of view of finance
it said the acquisition will bring to seven the number of cable systems it owns manages or has agreed to buy in the los angeles area
saudi arabia still the worlds largest oil exporter is a hugely wealthy country
discussed on and off for a long time the commodity concept is part of a growing search for a system that anchors monetary policy and widely fluxtuating currency prices to a more solid base
lastly baldrige said that the united states was hopeful that it could complete a free market agreement with canada by the autumn but said major issues including acid rain remained unresolved
under the atpc plan malaysia has been allocated an export quota of 28526 tonnes indonesia 24516 thailand 19000 bolivia 13761 zaire 1736 and nigeria 1461
it said the dividend will be distributed on april 30 to holders of record on march 30
eurosterling looks like a cheap and attractive way to raise your money he added
fed sets overnight system repurchases fed says
bankers officials and academics at a conference organized by the massachusetts institute of technology stressed the importance of proper economic policies and increased private investment
in the latest attempt fujitsu ltd itsut japans biggest computer maker unsuccessfully bid for fairchild semiconductor corp a us microchip maker which supplies components for supercomputers
grain analyst and meteorologist gail martell author of the ef hutton publication global crop news said in her latest report that the soviets may import more grain possibly wheat from the us due to potential crop damage
but there were also limits to the impact west germany could accept on exports from a rising mark he said
the imc said in a statement the ico is an important instrument for ensuring producers obtain an adequate price
it was at a peak of 117 pct last summer
execution of a definitive agreement is expected by april 22 it said subject to the completion of financing arrangements and closing is expected by may 15
the contract to be signed by pdvsa and champlin petroleums parent company the union pacific corp will create a new joint venture called champlin refining
the us agriculture department gave a preliminary breakdown of grain in the farmer owned grain reserve as of april 1 with comparisons based on telephone reports from farmers filed with the departments kansas city field office in mln bushels april 1 previous wheat 6576 6597 corn 14065 13970 sorghum 958 955 barley 1221 1220 oats 37 37
he said more than 75 pct of the imports come from the us and the rest from south africa
bp chairman sir peter walters said that the groups investment in standard was its largest single asset
chatsworth enterprises inc a publicly held shell corporation said it signed a letter of intent to merger with lotoquik international ltd a nassau bahamas based maker of video lottery machines
southwest said if the attempts to restructure debt do not succeed it could lose one or more of the properties
china sugar output seen lower usda
volcker lost a lot of credibility by overstepping the bounds and pushing the package onto the banks commented one banker who helped to negotiate the mexican deal
the dealer who declined to be named said brazil wanted to preserve its market share
in 1987 the company said it budgeted 178 mln dlrs for capital spending less than half of the amount spent in 1985 and down from 199 mln dlrs budgeted last year
this sale in and of itself wont make the company look better to a potential buyer said ray archibold a banking analyst with mccarthy crisanti and maffei inc
toledo seaforth 17000 mt hss offers 1850 dlrs four days 8000 13 15 4
shr 21 cts vs eight cts net 6597000 vs 2602000 revs 564 mln vs 232 mln 1st half shr 57 cts vs 32 cts net 176 mln vs 9810000 revs 1377 mln vs 760 mln
price sensitivity is also reduced by the fact that the majority of silver is a by product of other mining activity
standex international corp said it acquired alan duffy engineering ltd of blackburn lancashire england for an undisclosed amount of cash
last year the house approved his plan to force a 10 pct surplus cutback each year for four years by countries such as japan
metal traders said asturiana has the largest zinc smelting capacity in europe nearly 200000 tonnes a year of 99995 pct high grade zinc at aviles in northern spain
if the fed approves lerner whose equitable bancorp is also in cleveland said he intends to buy more ameritrust stock subject to market conditions and other factors
royex offers 50 dlrs shr and 40 dlrs warrant for international corona
first granite shareholders will be asked to approve the tranaction in late summer
investor albert kahn said in a statement that a group he heads increased its stake in trans lux corp to 89 pct from 81 pct on a fully diluted basis
pennzoil pzl sees lower first qtr
however a senior commerce ministry official said the thai government supports coffee producers lobbying for reimposed ico quotas which he said would help lift world prices
but the buffer stock can only buy 15 pct malaysian cocoa as malaysia is not an icco member while purchases of nearby cocoa can only reach 40 pct in any one day which forces the buffer stock to buy some intermediate and forward shipment material
he denied a suggestion by a dealer at one vienna bank that the national bank had sold marks to support the us currency
leigh pemberton said that the effectiveness of this cooperation is actually larger than many of us had thought in the pre plaza days before september 1985
the banks last announced an adjustment on february 28 when they raised the prime rate by one point to six pct
the commonwealth bank of australia said it will lower its reference rate for loans to 1575 pct from 1625 pct and its overdraft reference rate to 1625 pct from 1675 effective june 24
fed adds reserves via customer repurchases
service america which allegheny acquired in may 1985 operates cafeterias and food and beverage vending machines
jon rosenbaum us assistant trade representative and delegate to the talks said in a statement after the council adjourned a majority of producers led by brazil were not prepared to negotiate a new distribution based on objective criteria
the rights issue would have a theoretical value to shareholders of 140 swiss francs per bearer share and 45 per registered share
the previously announced record and distribution dates were may 13 1987 and june 29 1987 respectively the company said
prices of longer dated issues ended 1 2 or 5 8 point lower while short dates were 1 8 to 3 8 point easier
due to the transaction horn and hardart is projecting a positive cash flow for the unit for the remainder of fiscal 1987
the combined export earnings of 16 major indebted nations were sharply lower and only five of them chile colombia philippines south korea and thailand had higher exports
west german producer prices fell 01 pct in march compared with february to stand 39 pct lower than in march last year the federal statistics office said
first savings bank florida fsbf sets meeting
agriculture is an efficient sector of the european economy and will remain so if the right policy is pursued within the community he said
shr loss six cts vs loss 88 cts net loss 123840 vs loss 1298377 revs 1333416 vs 385146 year shr profit six cts vs loss 147 dlrs net profit 124872 vs loss 2171011 revs 4618232 vs 2959141
convergent technologies cvgt to buy oakleaf
rogers said that with world grain prices at their lowest level in over a quarter of a century in real terms demand has begun to rise while producing nations are re examining their expensive price support policies and reducing planted acres
ny tankers april 1 citgo took west virginia 62000 tons dirty april 9 caribbean to us gulf worldscale 63
saudi supertanker reported hit by iran off uae
japans unemployment rate seen rising to 35 pct
a contraction is unlikely to be a major concern for the fed especially as it would follow a long period of torrid growth but it could give the central bank extra leeway in the weeks ahead if it decided that a relaxation of monetary policy was justified on account of weakness in the economy
hungary to devalue forint against western units
wilson was optimistic about the outlook for the canadian economy forcasting gross domestic product would expand 28 pct this year and 30 pct in 1988
the events we have uncovered are unacceptable and highly regrettable incidents in our companys history nobel chairman lars erik thunholm told a news conference
qtly divs class a and b 20 cts vs 20 cts pay may 15 record april 30
each warrant priced at 4750 dlrs gives the holder the right to purchase a nominal sum of 500 dlrs for either 18250 marks or 14950 yen between march 31 1987 and march 31 1989
dan glickman d kan chairman of the house agriculture subcommittee on wheat feedgrains and soybeans
west german economic growth will slow to 15 pct this year from 24 pct in 1986 due to weak domestic demand and tougher competition from abroad the organisation for economic cooperation and development oecd said in its semi annual review of the world economy
singapores uic to buy into teck hock coffee firm
he said he did not know how much support the levy had within the ec but he said he believed those originally opposed to the tax were under pressure to change their position
in the 1st quarter of last year when the companys quarter ended feb 28 1986 it earned 957000 dlrs or 10 cts a share on revenues of 45 mln dlrs
under a 1985 farm bill provision the percentage of food aid shipments carried on us flag vessels was to gradually increase over three years to 75 pct in 1988
santa fe southern pacific corp will later today formally ask the us interstate commerce commission icc to reconsider its earlier rejection of the merger of the holding companys railroad assets a company spokesman said
the three research groups of kiel hamburg and essen predicted in the institutes joint spring report that gross national product gnp would rise by two pct in 1987 compared with 24 pct in 1986
entre computer centers inc said it is discontinuing its european and australian operations
horizon bancorp hzb sets regular payout
he said that before the restriction was imposed the volume of his firms transactions with venezuela was about 10 mln dlrs a day
many dealers were sidelined coming into the negotiations and have remained so traders said
as much as 30 pct of us oil imports in 1995 could come from opec nations he said
net is after tax 173000 dlrs vs 285000 interest 967 mln vs 805 mln and depreciation 1176 mln vs 959 mln
this means limiting sales is more difficult than in major west african producers where sales are made or authorized by commodity marketing boards
the new contract effective in june calls for shipping 23200000 pounds of blanks to the mint in philadelphia and 7600000 pounds to denver
bank of japan to sell 300 billion yen in bills
shr loss 48 cts vs loss 10 cts net loss 1234000 vs loss 259000 revs 715000 vs 1941000 year shr loss 126 dlrs vs loss 34 cts net loss 3229000 vs loss 870000 revs 3001000 vs 9767000 note 1986 net both periods includes 672300 dlr writedown of value of seismic laboratory and 165000 dlr increase in reserve for doubtful accounts
the company said ohta shoji chief executive officer of toho mutual life insurance co owns the majority of koba electronics shares
saudi riyal interbank deposits were steady at yesterdays higher levels in a quiet market
of this amount a total of 150000 tonnes was exported by march 1 they said
rabobank finally gave in to bourse demands to honour all subscriptions
but the lipc has often been criticised for releasing beef stocks when the prices are higher than the ceiling
katharina zimmer analyst for merrill lynch futures said the conservation sign up was slightly higher than she had expected although she noted that some trade expectations were considerably higher than the actual figures
payment to open reserves 20 mln marks vs 20 mln
shr 31 cts vs 18 cts net 90 mln vs 51 mln sales 158 billion vs 142 billion avg shrs 274 mln vs 269 mln nine mths shr 79 cts vs 42 cts net 233 mln vs 129 mln sales 458 billion vs 422 billion avg shrs 238 mln vs 267 mln note 1987 results include caremark inc from august 3
long distance services is a very competitive business
as previously reported bank commitments to the new money package will also be reduced by 250 mln dlrs representing the interest payments that mexico will save this year thanks to the reduced spread on the rescheduling
bahrain based arabian investment banking corp investcorp ec is raising 60 mln dlrs through a medium term revolving multi purpose facility arranger and co lead manager arab banking corp abc said
excludes tax carryforward 150000 for prior qtr
this made possible the talks with commercial banks
payment date on the issue which will be listed in luxembourg is april 24 and the first coupon will be short
chinese wheat crop threatened by pests disease
the statement said a positive cash flow of 381 mln stg for the first nine months will diminish in the final quarter due to corporation tax and dividend payments
gebrueder sulzer 1986 profit up almost 60 pct
they expected the fed will supply temporary reserves indirectly via 15 to two billion dlrs of customer repurchase agreements
us agency rules against brazil orange juice
1987 1st quarter revenues include rockport revenues of 31 mln dlrs
but he said there were no incidents
at the gatt negotiators meeting next week canada is expected to offer a proposal as well as the ec
the cumulative effect of the change was to decrease retained earnings at dec 31 1986 by 140 mln dlrs
jwp inc said it sold 30 mln dlrs principal amount of its 925 pct senior notes due 1996 to certain institutional lenders
sun alliance reports sharp profit rise
supporting its conclusion that broad based economic shifts were the cause of the increase in the trade deficit the report said it found that nearly all us industries lost some domestic market share to foreign competitors in the 1980s
jepson corp jepso 3rd qtr net
the distribution is part of the terms of continental bank of canadas sale of its banking assets to lloyds bank canada a subsidiary of lloyds bank plc
engineering measurements co emco 3rd qtr net
congressional sources said the only way to achieve significant budget cuts through arp increases would be to boost the 1988 corn arp
economists cut austrian gdp growth forecast
if during the three months the trader found a market elsewhere he could buy back the certificate on payment of a one pct premium
congress financial group supplied 28 mln dlrs in senior financing and the seller took back a note for 121 mln dlrs
lyng said to have no comment on ussr wheat eep
rio de janeiros 3500 dockworkers went on strike for an indefinite period today to demand wage increases a spokesman for the dockers said
del e
chevron chv cuts unc unc stake to 84 pct
this situation will be difficult to duplicate in 1987 and beyond because no significant new investments are being made the report said
as part of the plan the company will change its state of incorporation from florida to delaware by means of a merger of caesars world into a wholly owned subsidiary of the company
tenneco was up 1 7 8 dlrs to 48 5 8
it said gas reserves rose to 88 mln cubic feet from 83 mln on dec 31 1985 as discoveries of nearly 13 mln cubic feet were partialy offset by production of 287391 cubic feet and downward revisions of previous estimates totaling 491694 cubic feet
the bahrain monetary agency has issued a circular to all commercial banks outlining a new policy from april 1 which gives liquidity aid through sale and repurchase agreements in treasury bills or through discounting them
us banking regulations do not require banks to stop accruing interest on loans until payments are 90 days overdue but bankers trust said it acted now because of the high potential of a continued suspension that would result in reaching the 90 day limit in the second quarter of 1987 assuming no cash payments at current interest rates are received for the rest of 1987 bankers trust estimated that full year net income would be reduced by about 30 mln dlrs
it said wholesale prices of cement textiles and jute fell in 1986 87 compared with the previous year but milk cereals mainly wheat and rice fruits and vegetables edible oils tobacco and fertilisers were costlier in 1986 87
inertia dynamics corp trim 2nd qtr feb 28 net
sjw corp sjw 3rd qtr net
gross reserves were slightly lower at 1857 billion dlrs because this classification did not include silver holdings and undervalued the central banks gold
1986 net includes results of operations of parmed pharmaceuticals inc acquired may 29 1986
the government of japan reaffirmed its intention to further open up its domestic markets to foreign goods and services
the syrup commonly called hfcs 55 is most commonly used as a sweetener in soft drinks and other beverages
sloane said the consensus estimate for the non auto sector of retail sales is for a rise of 06 to 07 pct
some operators had been anticipating a larger tonnage pointing out that at this weeks uk intervention tender the market sought to buy 340000 tonnes but only 126000 tonnes were granted
the company said it is also entering the commercial finance business through the formation of triumph financial corp
export duty on crude palm oil cpo was unchanged at 1606 ringgit per tonne
it also owns 80 pct of cable and wireless hong kong while the hong kong government holds the balance
hogan systems hogn in acquisition
lex said in a statement that its acquisition of sears motor group represents a major development for its automotive activities
the board first apprised the proposal on the 11th of march i suspect there will be several more meetings after this the spokesman said
hokuriku electric industry is issuing a 35 mln dlr equity warrant bond due may 7 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
kaufman says greenspan nomination bad for bonds
hecks inc hex 4th qtr jan three net
they said the bonds would carry warrants issued by its efibanca subsidiary and convertible into bnl saving shares within five years
shr 12 cts vs 33 cts net 699037 vs 1349077 year shr 54 cts vs 55 cts net 2748280 vs 1833766 note per shr amounts reported after preferred stock dividend requirements
energy development partners ltd said it had an operating loss for the year ended december 31 of 24 mln dlrs or 40 cts per share
the three year cds are denominated in 100000 dlr units and will carry interest at 375 basis points below the three month new zealand bank bill rate
the unadjusted deficit on invisibles was 215 mln dlrs against 204 mln in january and 249 mln in february 1986
cti will become a wholly owned subsidiary of rabbit
kenyan farmers are anxiously awaiting the arrival of the long rainy season which is due to start about now
additionally a new formula will be used for calculating the aid element in mixed credits to take account of different interest rates in the exporting countries the 24 nation oecd which hosted the reform negotiations said
shr profit one ct vs loss 27 cts net profit 22000 vs loss 763000 revs 161000 vs 316000 note prior year net includes 1209000 dlr writedown of oil properites and 314000 dlr tax credit
opec member ecuador adopted austerity measures to conserve fuel after oil production was paralyzed by a strong earthquake
pharmacia ab said it was launching a 200 mln dlr eurocommercial paper programme as part of a move to internationalise the companys financing
pay n pak stores inc said it received two proposals in response to its previously announced solicitation of potential buyers for the company
us lines far east operations comprise offices in hong kong singapore manila busan seoul tokyo yokohama kobe and osaka burnside said
thai tin exports fall in february
lloyds bank plc lloyl said it is cutting its base lending rate to 105 pct from 11 pct effective tomorrow
samjens lawyers acknowledged it received information from painewebber but argued the information was public information and could be obtained either from texitle industry analysts or burlingtons public financial statements
the company said the acquisition is still subject to regulatory approvals and is expected to be completed during the second quarter
supplies mideast tension fuel gains in oil
traders said the new market would probably be a useful trading medium for japan and other south east asian tin interests although european traders generally appear to be reasonably satisfied with the current free market system which has been operating since london metal exchange lme tin trading ceased in october 1985
south koreas record 71 billion dlrs trade surplus with the us is bound to diminish as the country switches purchases from japan in favor of us companies trade minister woong bae rha said
a leading us farm state congressman jerry huckaby d la warned he will press next year for legislation to control domestic production of sweeteners perhaps including corn sweeteners if the industry fails to voluntarily halt output increases this year
the wall street sources said the dart group is expected soon to file a statement with the securities and exchange commission on its accumulation of dayton hudson stock
the acquisition is subject to regulatory approval
the brazilian coffee institute ibc could close may export registrations tonight following extremely heavy sales today exporters said
the spokesman reiterated statements made earlier in the week that the regularly scheduled meeting was being held
the official said there had been a delay in gathering information for the data which are expected to show that the west german economy contracted in the period
any backlash was likely to take the form of sabotage or other action to make it difficult to blame iran they added
m
us oil demand as measured by products supplied rose 21 pct in the four weeks ended february 27 to 1639 mln barrels per day bpd from 1605 mln in the same period a year ago the energy information administration eia said
for 1986 the companys earnings rose five pct to 316 mln dlrs on revenues that increased eight pct to 47 billion dlrs
the recent remark by us treasury secretary james baker that the paris accord did not set any target ranges for major currencies has cast a shadow on the agreement said koji kidokoro general manager of mitsui bank ltds treasury division
colombia opened export registrations and good business developed with both the fnc and private shippers
the latest 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
royal resources corp rrco 2nd qtr dec 31 loss
the exxon corp subsidiary said the changeover to the 89 octane unleaded fuel will begin late this month and early next in major markets in virginia maryland florida and the district of columbia
but analysts say the wallenbergs position in the electrical engineering firm asea ab asea st is also too small at 126 pct of the voting rights and there has been growing speculation that the group will be forced to sell off fringe interests to protect its core activities
the company said morgan stanely and co inc is advising it on the sale of the business
mccrory currently operates 1250 stores in 38 states
echlin inc said it expects further earnings increases for the second half of fiscal 1987 ending in august due to unit sales growth and improved operations
these rates were in all cases unchanged from previous intervention levels
results reflect change in fiscal year from november 30 end
they said the joint venture made a profit of 15 mln nz dlrs on the deal but they did say how many shares they had sold
the government bonds are making serious inroads on the private sector companies resources said r
robin fuller of agri analysis said the usda made a major upward revision of 105000 head in the size of the breeding herd in the december 1 report
this rise in import demand reflected the needs of brazilian industry to equip to raise production and is perfectly compatible with the governments program for economic growth fendt added
duffour igon gives backing to aga takeover bid
the malaysian tin bulletin said it is in producers interest to keep to their quotas to limit total exports to 90000 tonnes and to gradually deplete the 80000 tonnes overhang
new jersey investor buys 52 pct of kinark kin 
safecard services inc said its board declared a three for two stock split and is maintaining the quarterly dividend on post split shares at the same six cts it now pays for an effective 50 pct increase
rice corn lead 1987 us farm payments usda
it said the issues which are for settlement march 25 mature march 26 1990 march 25 1992 and march 25 1997 respectively
the fhlbb said home savings was the 12th troubled savings institution requiring federal action this year
crude futures could jump above 19 dlrs a barrel but will not remain there long if products are not strong robert murphy account executive at ef hutton said
the administration opposes any legislation that would tie its hands in votes on the loans
prices have been falling steadily since the international coffee organization failed in february to reach an agreement controlling exports by its members and pressure was renewed this week as the executive board of the organization met in london without reopening debate on its export quotas
the hong kong market fell sharply yesterday and today as both cheung kong and hutchison announced a one for two bonus issue of b shares
this compares with the banks estimate of a shortage in the system of around 300 mln stg which it earlier revised up from 250 mln
for 1986 two thirds of income were from chemicals and propane
extension of committed advances by the underwriting banks a so called back stop facility
last friday the shipbuilders association of japan applied to the fair trade commission to form a cartel to slash tonnage built to about half of total capacity for a year from april 1
iel has mandated merrill lynch capital markets to arrange a letter of credit loc facility in support of the notes and commercial paper making this the first facility of its kind the company said in a statement
uk money market given 85 mln stg late help
general motors corp said its pontiac division has established an interest rate support incentive program effective immediately as an alternative to its current option bonus program
shr loss 56 cts vs loss five cts net loss 19 mln vs loss 164000 revs 69 mln vs 54 mln year shr loss 115 dlrs vs profit 52 cts net loss 38 mln vs profit 17 mln revs 256 mln vs 298 mln note 1987 net loss includes loss 65 mln dlrs for nonrecurring reserve for closing costs of facility writeoffs and sales of real estate
nordbanken had to make a provision against a 200 mln crown loan to el sayed in its 1986 results
japan february unemployment falls to 29 pct 30 pct in january official
starrett housing corp sho 4th qtr net
spectra physics said ciba geigy indicated at the time of the standstill agreement that it would not make an unsolicited takeover proposal for the company and that the intent of the agreement was that ciba geigy would not acquire more than 20 pct of the company unless there was another takeover threat
it really does not mean that he took the opportunity as it came up one official said
pennzoil said its goals for 1987 included development of its point arguello oilfield off the california coast to maintain current production levels in its bluebell altamont field in utah and to drill for prospects in the gulf of mexicos mobile bay area
the lower prices probably led to an increase in usage of 40 to 50 mln bushels it said
energy and mines minister arturo hernandez grisanti today told a meeting of regional oil exporters the next few months will be critical to efforts to achieve price recovery and stabilize the market
another question is whether or not the international monetary fund can help brazil with a new austerity program
durakon drkno to make acquisition
shr 28 cts vs 16 cts net 9387000 vs 25617000 revs 4101 mln vs 3935 mln avg shrs 354 mln vs 1647 mln note 1987 net reflects interest expense on debt incurred to finance recapitalization in oct
the research arm of nomura securities co forecast unemployment would exceed two mln by mid fiscal 1987 against an estimated 175 mln for the current year
virgil rosendale a pork producer from illinois and chairman of the national pork board said over 22 mln dlrs was collected in january and refunds are running almost nine pct considerably less than expected
we are faithfully abiding by the agreement but of course there are some problems a spokesman for the international trade and industry ministry told 
bass group has stake in bell and howell bhw 
it matures on april 8 1992
the national australia banks hong kong branch is planning a 75 mln australian dlr floating rate certificate of deposit cd issue banking sources said
moi pressed the us to increase its level of aid to kenya which fell to 53 mln dlrs this year from 111 mln in 1984 and called for more us investment in the country
audis worldwide car deliveries fell two pct to 363000
hermann strohmeyer vice president of commerzbank ags foreign exchange trading and treasury department said gold is poised to rise to 460 to 470 dlrs an ounce in the second half of this year
anacomp inc one of the most actively traded nyse issues rose today as at least one analyst expected earnings to be boosted by its planned acquisition of a micrographics company
echo bay mines ltd said it discovered a gold deposit in the cove area near its mccoy gold mine in nevada
the government initially forecast a current account deficit for 1986 87 of 1475 billion our present expectation is that the result will be somewhat lower around 14 billion he said
i had one of these guys tell me he makes six seven mln dlrs a year and didnt know what to do with all his money says cole
the option was one of many contained in a report on oil and the national security the energy department sent to the white house on tuesday
independence bancorp inc said it completed its merger with scranton penn based third national bank and trust co with assets of 316 mln dlrs
m a com inc said its board authorized the repurchase of up to five mln of the companys common shares from time to time in the open market or private transactions
failure of talks on re establishing international coffee organization ico coffee quotas last week may put political pressure on the united states particularly the state department to reassess its position but the us is unlikely to back away from its basic demand quotas be set by objective criteria us officials said
dollar expected to fall despite intervention
nearby months in soybean and soymeal futures could post a short term rally on tightening supply of livestock feed even if favorable growing conditions keep the new crop outlook bearish traders said
on the other hand congressmen known for their allegiance to free trade said the bill ties reagans hands too much in trade disputes and they will seek to restore his negotiating powers
theyre all lower he said
heyman said in a letter to borg warner that he expects a merger would provide job security for borg warner employees since the two companies businesses overlap
shr 42 cts vs 42 cts net 191 mln vs 195 mln revs 1849 mln vs 1851 mln 12 mths shr 217 dlrs vs 253 dlrs net 970 mln vs 1118 mln revs 7933 mln vs 8288 mln avg shrs 409 mln vs 405 mln note year ago restated
it said in a statement we are confident that substantial development funds will be available to tricentrol and that we will be able to minimise further disposal of our interests tricentrol wrote off 575 mln stg on the reorganisation of its north american operations last year when oil prices plunged
bank fuer gemeinwirtschaft ag bkfgf year 1986
ec external trade commissioner willy de clercq has already written to his us counterpart special us trade representative clayton yeutter outlining the ecs concerns
indian sugar output rises in first four months
caterpillar inc cat votes quarterly dividend
pakistan to retender for rbd palm oil tomorrow
the bank also said there were indications the countrys economic recovery was becoming more broadly based
foreign exchange reserves rose by 94 mln francs to 3312 billion
official reserves totalled 7205 billion dlrs at end december compared with 4723 billion at end september and 3255 billion one year earlier
presidency minister patricio quevedo said the budget would be cut by five to 10 pct government hiring would be frozen and salaries of top officials including the president and cabinet would be reduced
it gave no further details
ico observers doubted brazil or key consuming countries are ready to give sufficient ground to convince the other side that reopening negotiations again would be worthwhile they said
primerica pa completes smith barney takeover
verhofstadt proposes beginning the selloffs in the last quarter of 1987 with the sale of 30 to 40 pct of state investment company sni
as a result it said the former burdett publications owners have a claim for damages against dale burdett as successor to nolex for one yuear starting january 21 1987 with the damages measured by the difference in values of shares exchanged plus interest from february 20 1986
shr 12 cts vs eight cts net 1440000 vs 830000 revs 159 mln vs 112 mln avg shrs 12342000 vs 10826000
the bank of italy said the cumulative balance for the first two months of 1987 does not match the total calculated on the individual monthly figures because of the provisional nature of certain data
meanwhile analysts noted the market ignored potentially harmful news on the trade front todays figures showing that the current account deficit in 1986 was 11 billion stg
interest rates remain unacceptably high in real terms gurria added
japan february current account trade surplus jump
the initial exercise price is 494 yen per share and maturity is february 4 1992
siemens sees sales near 52 billion marks this year
crazy eddie inc says it wont oppose slate of entertainment marketing
the average rent payment accepted in the first three signups was 4350 dlrs per acre
the bank also cut its seven day repossession rate to 8 1 2 pct from 8 3 4 pct
this is a specific short term phenomenon rather than a wider trend the dealer said
knoll already owns 796413 shares or 99 pct of american savings
pay date is april 6
hughes chairman wa kistler told reporters that hughes did not want to sign the department of justice consent decree until after bakers submersible pump and drilling bit operations were sold
us selling 132 billion dlrs of 3 and 6 mo bills march 9 to pay down 245 billion dlrs
questions would then be presented to china
consolidated net turnover 13106 billion francs vs 12214 billion
the plant wilq use about a tonne of sand per day although it is unclear how much rare metal will be extracted the official said
london traders say the european community is likely to award a maximum rebate of 4680 european currency units per 100 kilos at todays tender while traders in paris predict a maximum award of 4640 ecus
robert m
it is more than was talked about when prime minister yasuhiro nakasone was here
reynolds metals co said it filed a registration statement with the securities and exchange commission covering a planned offering of 200 mln dlrs of convertible subordinated debentures due april 1 20012
usda estimated this provision would save 30 mln dlrs largely because of reduced crop forfeitures
it did not give details
lawson said he did not think that the uk s relatively high level of real interest rates had hurt investment in britain
the launch of the new certificate has to be viewed in the framework of the management of the public debt as a step towards the return of a larger volume of fixed rate issues the treasury said
they said the ministry wants a 050 yen raise in issue price from february to 9950 to yield a record low 5075 pct
shr 50 cts vs 47 cts net 2646000 vs 2611000 sale 414 mln vs 387 mln nine mths shr 113 dlrs vs 104 dlrs net 6038000 vs 5545000 sales 1172 mln vs 1084 mln
shr 416 cents vs 2880 final div nil vs 105 cents making six for year vs 165 pre tax profit 268 mln dlrs vs 10771 mln net 927 mln vs 6320 mln turnover 547 billion vs 483 billion other income 6533 mln vs 5168 mln shrs 22294 mln vs 21954 mln
we are considering selling the group nelson said
the division manufactures tillage and spraying equipment
japans trade surplus in nominal terms is likely to remain high in the near future the central bank said
speaking last night chirac set out the french position saying any agreement on intermediate nuclear forces should mention how equality can be achieved in short range missiles reagan and chirac meanwhile signed an agreement ending a dispute between two leading research institutes over patent rights to a blood screening test for the deadly disease aids
robert c
shr 65 cts vs 63 cts net 527 mln vs 477 mln revs 116 billion vs 9766 mln avg shrs 799 mln vs 743 mln nine mths shr 173 dlrs vs 154 dlrs net 1414 mln vs 1179 mln revs 339 billion vs 275 billion note share after preferred dividends
ragsdale and richard l
baker also urged the fund to develop alternative medium term economic scenarios for countries that can help us focus even more clearly on the most important imbalances by identifying options for addressing them and analyzing the implications of these options he said also that further work should be done on finding paths that lead toward possible medium term objectives
oper shr 164 dlrs vs 84 cts oper net 4583000 vs 2869000 revs 201 mln vs 190 mln avg shrs 2791639 vs 3432746 year oper shr 446 dlrs vs 320 dlrs oper net 141 mln vs 109 mln revs 746 mln vs 680 mln avg shrs 3154665 vs 3425187 note operating net excludes gains of nothing vs 2444000 dlrs or 72 cts a share in quarter and 1890000 dlrs or 60 cts a share vs 93267000 dlrs or 272 dlrs a share in year from tax loss carryforwards
there is no court action against brazil gros said in a television interview
each of the 17 current foreign securities houses in the syndicate underwrites 007 pct of each issue they said
first new hampshire banks inc div
the offering will not be registered within the us the company said
a series of labor disputes and bad weather has meant brazils coffee exports have been running at an average two weeks behind schedule since the start of the year one source added
charles bundrant president of trident before the merger was named president of the new company conagra said
prudentials pre tax profits rose from 1985s 1101 mln stg to 1781 mln stg in 1986
prices could fall another 10 cents to 15 cnts a pound analysts said
but prices rebounded today with april us crude prices up about one dlr to over 17 dlrs a barrel on a belief saudi arabia is attempting to curb opec output
whatever decision we arrive at will be guided by our collective will to keep the market strong he said
westpac in nz raises indicator lending rate
the estimates were based on a tentative leading indicator incorporating new business orders company inventories and share prices used by his ministry lee said without giving further details of the new indicator
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
approval would also be necessary from the renault chrysler and amc boards from amc shareholders and the relevant government authorities
at the same time it said inflation as measured by the gnp price deflator rose by 07 pct during the period
however sterlings continuing firm performance had prompted interest in the tap right at the outset
feds policy ease may end with 2nd qtr rate cut
the sale of the governments 2555 pct stake in veba ag vebgf is still expected this month banking sources closely linked with the transaction said
the world bank said it approved a 25 mln dlr structural adjustment loan for mauritius to aid that countrys industrial sector
the current conference was widely seen as the last chance to clinch a deal
the subcommittee rejected a proposal requiring the us to pay investors one pct for the right to hold their gold investments in government storage
gtx corp said nippon steel co of japan in a move to diversify into high technology invested eight mln dlrs in gtx
royal bank sees improved results
these missiles pack a fairly big punch he told 
gruppo ferruzzi is studying a project which could result in a public share offer of up to 49 pct of its french unit european sugar france and could raise around 400 mln dlrs ferruzzi chairman raul gardini said
australian beef output declined to 104353 tonnes carcass weight in january from 112262 in december and 105715 a year earlier the statistics bureau said
the us senate on tuesday backed president reagans retaliatory strike against iranian targets in the gulf as it moved to take a greater role in making policy in the volatile region
it said the price went into effect monday
because of the difficulty of sustaining zero expenditure growth and of likely growing impatience for tax reductions we feel that your position would be stronger if you could decide on rather sharp expenditure reductions in 1988 the report adds
world bank loans mexico 400 mln dlrs
carroon and black corp said it completed the acquisition of poggi harrison agency inc and risk control inc terms of the acquisitions were not disclosed
the standard price of other beef mainly produced from dairy steers is set at 1020 yen against 1090 and the ceiling at 1325 against 1420
legg mason inc lm 2nd qtr net
japan cannot bear further yen rise minister says
the cbt spokesman stressed that discussions were very preliminary at this stage and nothing was likely to begin until this summer at the earliest
international corona icrto 2nd qtr net
qtly div two cts vs two cts prior pay may 15 record march 31 note full name saxon oil development partners lp
shr loss 72 cts vs loss 148 dlrs net loss 4466006 vs loss 9091688 revs 608181 vs 1280727 avg shrs 6194000 vs 6155461 first half shr loss 77 cts vs loss 151 dlrs net loss 4752455 vs loss 9265457 revs 1444149 vs 2791188 avg shrs 6174731 vs 6155461 note losses include charges of 40 mln dlrs in both 1986 periods vs 144 mln dlrs in both 1985 periods for write down of oil and gas properties
if the merger is consumated s and p would rate the newly formed baker hughes inc senior debt at a minus subordinated debt at bbb plus and commercial paper at a 2
north american philips nph sells debentures
however the sources said the commission wanted to review the market situation nearer the time before giving its approval
asked about persistent speculation that the administration would offer moscow a wheat subsidy lyng said some people think theyre doing it to see if they can get a little spurt in the market agriculture undersecretary daniel amstutz last week asked the commodity futures trading commission to investigate reports that wheat prices were being manipulated by reports that a us wheat subsidy offer was imminent
net includes loan loss provision of 202 mln vs 126 mln
a group is now being formed
congressmen said the change would have required the us international trade commission to impose limits on car imports in 1981
subscriptions to the issue open april 1 and are scheduled to close april 7
fed sets one billion dlr customer repo
shr 26 cts vs 18 cts net 5281000 vs 3496000 revs 488 mln vs 321 mln nine mths shr 64 cts vs 51 cts net 129 mln vs 9822000 revs 1290 mln vs 892 mln
stanadyne inc said it terminated discussions about its proposed purchase of united technologies corps diesel systems utx unit
a spokesman for the west german automobile association adac said the adac magazine in a recent edition described advantages of the new tyre
unless quickly reversed such a trend will ensure that june m 1 growth will be negative kahan said
cameron smail said the company seeks to help the development of such a market as it would provide a new funding base for its medium term assets
a fall in customer savings because of lower rates could reduce cheap refinancing available to banks forcing them to draw down relatively expensive funds from other sources one economist at the german banking association said
mannesmann is buying 75 pct of mec sachs vermoegensholding which owns 375 pct of sachs ag which in turn holds 965 pct of fichtel und sachs
withdrawal from the showa aluminium industries kk joint venture had been recapitalised in expansion by the new zealand aluminium smelters ltd project with japans sumitomo aluminium smelting co ltd permitting repayments and increases in liquid funds totalling 165 mln dlrs it said
fed to purchase treasury bills for a customer
the issue is guaranteed by american express co
sumitomo trust sells cd notes at 728 pct
1986 nine months period includes gain of 160431 dlrs or two cts a share from sale of ferrotherm co
mmal 99 pct owned by mitsubishi motors corp mimtt and mitsubishi corp mittt said a tight market meant it had failed to recover 19 mln dlrs in costs sustained because of a weak australian dollar
the group which includes hlm associates hlm associates ii and their three general partners said it sold the stock between april 22 and june 9 at 900 to 9125 dlrs a share as the result of an investment decision
the resistance to the deal must be seen alongside the fact that it is the largest loan for a latin american debtor since the regions debt crisis flared up in 1983
dst 1 in the epsilon formation was earlier reported as flowing gas at 237862 cm day delhi said in a statement
stocks on may 31 1986 at 1905 vs 1905 last month
national semiconductor corp nsm 3rd qtr loss
the parties agreed to continue economic cooperation under the louvre agreement and its flexible application including cooperation on exchange rate stability and monetary policies the treasury said
borg warner corp in a statement said it has received gaf corps 46 dlrs a share acquisition proposal and will have no comment until its board of directors has had a chance to examine it thoroughly
to me it seems bizarre just bizarre the official said
the borrower is wholly owned by international business machines corp ibmn
dart said it was advised that a selling brochure for the sale of sgl had been distributed to about 20 potential buyers but not itself
an important exception would be its securities business which would grow more slowly
regal beloit corp rbc 3rd qtr net
purolator closed at 34 7 8 off 5 8
greece earlier this month declared it considers the accord inoperative
harcourt made clear in its offer that it will step aside if harpers directors and shareholders reject the bid harper said
to increase its competitiveness oreilly said heinz implemented a lowest cost imaginable program targeted at manufacturing sales and marketing and procurement
they said the increase brought exxons contract barge price to 50 cts a gallon
the growth in hong kongs exports is expected to stimulate the demand for industrial buildings cheung kong is cash rich and is looking for new projects in the british colony li said noting the firm is interested in a land reclamation project along the hong kong harbour and is exchanging views with the government on a proposal to build a second airport
shr seven cts vs five cts net 240000 vs 136000 loans 2645 mln vs 2517 mln deposits 3197 mln vs 3068 mln assets 3486 mln vs 3346 mln
right now we are trying to solidify the group and bring it together under one group ghirardi said
schlecht said the upturn in west germanys economy slowed in the fourth quarter of last year and the first quarter of 1987
venezuela obtained 300 million dlrs in credits
italian barley crop reported in good condition
it said sales in the period grew 88 pct to 723 billion dlrs from a restated 665 billion dlrs in 1985 with comparable store sales up 47 pct
ny business loans fall 222 mln dlrs in march 18 week fed says
demand totalled 1845 billion francs at prices between 9470 and 9710 pct
leader development ldcoo merger approved
venezuelas opec output quota is currently 1495 million barrels a day and ecuadors has been set at 210000 bpd
cathay pacific airways ltd caphhk year 1986
abc said the facility has a maturity of three years from signature with bullet repayment
the statement confirmed released preliminary earnings figures the company released in february
societe miniere louvem inc said its board of directors has offered to buy an option to buy back its owns shares from provincially owned soquem its major shareholder
but mexico failed to qualify for the first two drawings totalling 451 mln dlrs and gurria said today we expect well never have to use it gurria said mexico will know by june whether it can draw on the second contingency facility included in the bank financing package a 500 mln dlr growth co financing loan with the world bank
under the amended deal lifestyle shareholders will get one bombay share for each six instead of five lifestyle shares
deputy finance ministers from the group of 10 leading western industrialised countries met here to discuss the world debt crisis trade imbalances and currency stability today following last months paris monetary accord sources close to the talks said
chrysler c renault delay am motors amo pact
the company said the offer will be subject ot securing satisfactory financing
asked by reporters if somebodys head should roll because of the wall street retreat texas democratic senator lloyd bentsen said with some irony oh i think its much too late to be doing that you have an administration thats taken the attitude that we can put the country on automatic pilot and retire to the living room to take a nap
the credit brings total japanese loans and grants to bangladesh to 44125 billion yen since 1972 they said
the measure will take effect tomorrow following the publication of the decree in todays official gazette
afbf president dean kleckner made the comments in response to the ruling earlier today by the canadian import tribunal that subsidized us corn imports were injurious to canadian growers
us factory usage of lard in the production of both edible and inedible products during february totaled 220 mln lbs vs a revised 202 mln lbs in january according to census bureau figures
fire protection and security group wormald international ltd woias said british listed holmes protection group inc has agreed to issue it with 615 mln common shares of one us cent par value at 172 stg each
boosting the amount of us grain which must be shipped each year under a food aid program called section 416 to 800000 tonnes from 500000 tonnes now
nutmeg industries inc nutm year jan 31 net
congressional staff members estimate the special farm worker amnesty provision would apply to between 250000 to 350000 aliens
us treasury part of argentine bridge loan
there have been suggestions these sowings might respond to the recent upsurge in world prices but czarnikow said it is not the sort of fact that easily becomes known the broker bases its forecasts on licht planting estimates which put w germany the netherlands and ussr lower but hungary romania poland turkey and yugoslavia higher
non interest income totaled 3426 mln dlrs in the third quarter up 47 pct or 1097 mln dlrs largely due to increased income from foreign exchange trading fees and commissions
fhlbb says mortgage rates continue decline
it said the effect of these factors led the management group to conclude that the six dlr per share price was excessive under current conditions
standard and poors corp said it downgraded 360 mln dlrs of debt of fluor corp and its units fluor finance nv and st
central bank officials were not available for comment
todd shipyards corp said it omitted payment of the quarterly dividend on its common stock and lowered the dividend on its series a preferred stock to 75 cts from 77 cts a share
but there has been doubt over the plans since the stock fell below this level this week after fermentas former chairman kjell brandstrom said the company was in a much worse state than he thought
commonwealth bank of australia issues novel bond
the implications for interest rates are very favourable we could have a half point cut tomrorow and another such cut before the end of the week simmonds said
samuel montagu and co ltd is lead manager and agent
fleet and norstar in a joint statement billed the proposed merger as a partnership of two companies both will continue to operate existing headquarters after the merger
conger said he anticipates 1987 exploration budget will be about the same as 1986 spending of 273 mln dlrs
caltex and shell will set prices of 015 gm lead at 968 cents litre for 97 octane and 902 cents for 92 octane
japan joining international cocoa agreement
on february 17 baker said it had signed an agreement to sell one of the subsidiaries
the state owned kenya ports authority kpa signed an agreement with the hamburg based shipping line unimar seetransport to establish the kenya national shipping line with an initial capital of 100 mln shillings sources said
gros said he wished the 90 day rule was more flexible and said he would be willing to sit down with the banks to see if there was a way round the problem
jones and co
we generally make a distinction between secured and unsecured debt and this was the key factor in our downgrade a spokesman for drexel said the action did not affect the holiday inns deal which had already sold out to investors by late friday afternoon
strength in the single family sector indicates that low mortgage rates are doing their job
navistar international corps stock rose after brokerage house sanford c
beasley construction co a wholly owned unit
but a cable spokesman said it still believed a merger of the two consortia would be impracticable
damson oil dam converts mortgage bonds
imperial chairman arden haynes said in the annual report that it is too early to determine whether the recent upward movement in international oil prices will be sustained
heymann sees operating profits from ges jet engine business rising from 870 mln dlrs last year to 13 billion dlrs by 1991
japan has frequently been the target of congressional discouragement over last years record 169 billion dlr trade deficit
analysts said air canadas immediate concern ahead of a public stock offering will be unloading unprofitable air routes without setting off a political storm
net 90501 vs 56960 assets 420 mln vs 349 mln deposits 359 mln loans 276 mln vs 239 mln note earnings per share and 1985 deposits figure not supplied by company
it quoted unnamed economists as saying they expect 1987 industrial production to increase at a proper rate and with better results due to a cost efficiency drive underway throughout the country
bank of japan sources told in tokyo earlier this week that they believed the limits of currency market intervention are perhaps being reached and that other methods for bolstering the dollar such as invoking currency swap agreements with other central banks are being considered
for each corona share it offered four dlrs cash one series b share of royex one series c share of royex and one share purchase warrant
credit agricole announced an offer to swap the 1889000 francs of bonds outstanding on its original 425 mln franc 10 year 14 pct july 1980 issue for its new four billion franc two tranche 830 pct 1987 issue
it said it has also executed multi year employment and non competition agreements with five spectrayne senior managers
snyder oil partners lp said it acquired 12 mln shares or 12 pct of cenergy corp
in 1990 the company would be decapitalized 874 mln bolivars
us trade representative clayton yeutter said canadas finding announced today that us corn imports injure canadian farmers is totally unjustified us corn exports to canada are so small that it is inconceivable that they injure canadian corn farmers by any reasonable measure yeutter said in a statement
this is western financial auto loans third such issue
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
china and australias victoria state signed a joint venture contract for a 290 mln dlr aluminium processing plant in china that will export to south korea australian officials told journalists
an ico special meeting ended last night in london with exporting and consuming nations failing to agree on a resumption of export quotas suspended one year ago after prices soared following a prolonged drought in brazil
first boston fbc starts allegheny ag bid
when baker and volcker left the speakers office they knew it wasnt just talk one source at the meeting said
the fire destroyed a large sector of the main conveyor from the raw sugar jetty to the weighhouse
the spokesman was unable to say if the meeting would continue on friday
despite the official optimism about diversifying zambias export routes diplomatic sources in lusaka expressed reservations about the capacity of dar es salaam and beira ports to handle all of zambias mineral exports even if they could be hauled there by train
st
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 carefully considering the two offers at a meeting on friday the harpers and row board decided not to act on them
among manufacturers car parts makers are under the most pressure to buy up overseas companies and follow the big auto makers they subcontract for as these move offshore
under ec law ministers have to give member states special permission if they wish to be exempt from community competition laws
american express earlier said it has a general understanding with nippon life insurance co of japan to sell a 13 pct interest in shearson for 530 mln dlrs
the spokesman said the transaction was accounted for as an acquisition but the securities and exchange commission took issue with the accounting method and said it should be accounted for as a reorganization of entities under common control
the changes were made to better reflect local market conditions said ralph klopfenstein deputy administrator for commodity operations at usda
its latest estimates also suggested a 667 pct rise in soybean sowings to 80000 ha from 48000 last year
a total of 77 billion marks in long term funds was placed with banks after 66 billion the previous month
by january its estimate of 1986 planted acreage nationwide was 1006 mln
the department said deficiency payment rates of 515 cents per bushel for corn and 49 cents per bushel for sorghum were received by producers requesting advance payments
bank sees modest recovery in gulf arab economies
british gas repays 750 mln stg debt
guinness seeks uk injunction against saunders
dart group said it will not solicit proxies or attempt to acquire dayton hudson
overall capital and exploration expenditures will fall slightly below the level for 1986 although well be ready to increase spending whenever the outlook becomes more promising murray said
the european coal and steel community is issuing a 100 mln stg eurobond due april 6 1992 paying 9 3 8 pct and priced at 101 5 8 pct lead manager warburg securities said
it gave no further details and company officials were not immediately available for comment
suna monitored by the british broadcasting corporation said omer made the remarks after a meeting in khartoum yesterday with imf envoy abdel shakour shaalan
orange co inc oj 2nd qtr feb 28 net
the new singapore government securities market will start trading in late april or early may after president wee kim wee signs the development loan bill approved by parliament last week bankers said
in the 1986 first quarter williams reported net of 142 mln dlrs or 41 cts a share on sales of 7964 mln dlrs
kuwait they said was pumping 12 mln bpd
it said corrective measures will be implemented to prevent a recurrence
in the 15 months to end 1986 ae produced pretax profits of 274 mln stg compared with 256 mln in the 12 months previously
deutsche bank finance unit has australian dlr bond
oilman has 87 pct of qed exploration qedx 
and above all europe and the united states have too many common interests to make it worthwhile to engage in trade wars and competitive export subsidies which end by benefitting no one he added it is crucial that the united states and the european community remain friends jopling who is a member of the ec agriculture committee was in indiana to visit several farms prior to talks with us officials in washington later this week
the m0 data are much better than we expected said robert thomas economist at greenwell montagu securities
the company planned to borrow 200 mln dlrs and sell 800 mln dlrs in debt to finance the payout
time said these moves are part of a continuing effort to reduce the average cost of its debt and to increase its financing flexibility
the last thing they want to do is reduce them rates and have to jack them back up again said richard jeffrey economist at brokerage house hoare govett ltd
it had principally operated as a volvo dealer
ual rose 1 5 8 to 73 5 8 on volume of more than two mln shares after trading with little upward movement earlier in the session
the commerce department reported last week that the nations trade gap calculated on a balance of payments basis swelled to a record 3837 billion dlrs in the fourth quarter bringing the 1986 deficit to a record 14771 billion dlrs
bra kanon completed bilateral consultations with several delegations today on the main sticking points in the draft buffer stock rules package they said
the mission headed by gabin ran kankani head of the banks brazil division met finance ministry secretary nailson nobrega
furthermore we still have the april 1986 highs to contend with which in the nearby contract is 105 15 32
at present it is for instance pressuring japan to end allegedly discriminatory taxation of imported wines and spirits to ensure ec companies have a chance to win contracts for the building of a new international airport and to simplify certification and safety checks on imported cars
however analysts noted that the amount of bellies put in storage has been light since the beginning of march and this is a potentially bullish situation
the company reported fourth quarter earnings of 213 mln dlrs or 138 dlrs a share up from 195 mln dlrs or 124 dlrs a share a year earlier
two weeks ago rabobank issued a 250 mln guilder 675 pct bond at par giving it a yield 040 above the average bank loan yields that day of 635 pct
lindes authorised share capital currently stands at a nominal 496 mln marks
the bolivian government has yet to draw up proposals for debt equity swaps but the banker said it was planning to privatise more than 100 state companies and these could serve as a basis for such a scheme
commodities from gold to grains to cotton posted solid gains in a flurry of buying today as losses in the us dollar and rising interest rates kindled fears of inflation and economic instability
manhattan national corp said its shareholders overwhelmingly approved a proprosal through which union central life insurance co took control of the company by acquiring about 36 mln shares of newly issued manhattan national common stock for 432 mln dlrs
but more important these issuers were able to increase loan volume and hence car sales without substantially increasing financial leverage the rating agency said
this brings the total in the two days registrations have been open to 205 mln including 4868 bags of soluble
kramer made the forecast at a meeting today on austrias economic outlook also attended by chancellor franz vranitzky finance minister ferdinand lacina and national bank president stefan koren
if all the contingent shares are issued blue grass said former owners of equine will have a 75 pct interest in blue grass
the approval was the final regulatory step in the affiliation process which began in august amsouth said
nova owns 43 pct of husky oil ltd hyoto blair also said that nova has made no decision as to whether it would want to be lead partner in a joint purchase of dome
gencorp stock closed yesterday in composite tape trading at 9050 dlrs a share up two dlrs on the day
the company explained that underwriters exercised in full their option to increase tohe offering by buying an additional 4950000 shares over and above the 33 mln brought to market yesterday
kahn also said he is seeking an examination of the trans lux shareholder list and corporate books and records under delaware law
the reserve requirement which was already in place on normal peseta deposits was intended to curb short term foreign speculative capital which is entering the country and threatening the governments money supply growth target
morgan guaranty said there is about 30 mln dlrs principal outstanding
union pacific has what are rumored to be some fairly signficant environmmental problems of its own he said
huckaby who told us sugarbeet growers earlier this year they must halt production increases said he will deliver the same message to louisiana sugarcane growers friday
the companys last profit was in 1980 when it earned 524 mln dlrs on sales of 21 billion dlrs
a gencorp spokesman in response to questions would not comment on market speculation that the companys management may develop a leveraged buyout offer of its own
unusual texas instruments txn preferred priced
shr 10 cts vs four cts net 419000 dlrs vs 196000 dlrs revs 273 mln dlrs vs 259 mln dlrs notethe first quarter ended may 29
the governments perceived need to control inflation by keeping a tight rein on credit was unnecessary he said
ball corp bll 3rd qtr net
the 100 pct tariffs are to be imposed on 300 mln dlrs of japanese goods recommended for curbs by a special panel of experts headed by the us trade representatives office
the rating agency also pointed out that union carbides successful refinancing of more than 25 billion dlrs of long term debt has resulted in a substantially lower interest burden
in february the cost of living rose 01 pct from january but fell 05 pct compared with february 1986
the proxy statement filed with the securities and exchange commission is required for a november 5 shareholders meeting called to approve the previously announced acquisition of southland by a company controlled by southland chairman john thompson and members of his family
and so far us pleas for taiwan and korea to use their hefty export earnings to import more have had little effect
the us agriculture departments latest estimates on 1986 87 florida orange production and orange juice yield are bearish for the frozen concentrated orange juice futures market because the yield increase was greater than expected fcoj traders and analysts said
the collapse of the deal will not be a critical blow to fujitsu but it will boost the cost of future us expansion by the japanese firm said analysts polled by 
no spokesman for either company was immediately available to say why terms could not be agreed nor whether the possibility of a bid was now being abandoned
earlier squibb and cetus announced in a joint statement an agreement in principle to form a joint venture to develop new biotechnology products in several fields
usair said it has already bought 23 mln piedmont common shares or 99 pct of the total outstanding from norfolk southern corp nsc for 1619 mln dlrs
its part of a trend towards growing capital participation by japanese insurance firms in foreign financial institutions said simon smithson an analyst with kleinwort benson international inc in tokyo
the deficit on invisibles was 241 mln dlrs against 242 mln in january and 250 mln in february 1986
he said much of the strength came from factors that do not point to a sustained rise in industrial output
the company said the stock split is subject to approval by its shareholders at its upcoming annual meeting
we have a commitment to our customers and i would not like to comment on that madrid said
nestle to acquire nabisco canada businesses
toshiba information systems uk ltd a toshiba subsidiary said yesterday it planned to enter the uk market under the toshiba own brand name and had applied for government approval to do so
raised were the companys senior debt to ba 1 from ba 2 and subordinated debt to ba 3 from b 1
bp grangemouth refinery shut hydrocracker damaged
the refiners said the increase is needed because the quota is so restrictive there could be some spot shortages of sugar in the us later this year a refiner spokesman said
he said kotc made profits of more than two mln dinars seven mln dlrs in the fiscal year ending last june but predicted lower profits this year due to higher costs for chartering and operating vessels
the name of the corporation will be changed to scan graphics inc and its borad of directors will be composed of individuals now on the scan graphics board
energy secretary john herrington said he would rule out a tax on gasoline as one option to help avert what his departmet has called the threat of increased reliance on foreign oil in the coming years
total investment by the group in the communications sector including cable activities would be between 300 mln and 400 mln francs over the next five years mainly concentrated in the coming year
whittaker corp said it has completed the previously announced sale of its wholly oiwned whittaker general medical corp subsidiary to rab holdings inc for undisclosed terms
sumitomo trust and banking co ltd is offering 100 mln dlrs of certificate of deposit notes due 1992 yielding 728 pct said sole manager shearson lehman brothers inc
iraq also reported a naval battle at the northern tip of the gulf
lynch corp subisidiary lynch entertainment corp said it formed a general partnership called coronet communications co which has acquired whbf tv station in rock island ill
the effect of public authority cash movements on the money supply was slightly expansive the bundesbank said
us conservation signup seen 10 to 12 mln acres
initial reports spoke of water flooding the car decks through the bow doors
the us dollar has declined in value against the yen and european currencies but has changed very little against the currencies of some developing countries such as south korea and taiwan because they are linked to the value of the dollar
under the bill adopted by the committee countries friendly to the united states would be eligible to host the trade missions
they are available in denominations of 1000 dlrs
city investing trust cnvlz sets cash payout
iowa beef a subsidiary of occidental petroleum corp said it is beginning to take applications for permanent positions at the plant
ccc accepts export bonus barley malt to nigeria
however trading in most agricultural futures contracts increased last month led by oats and corn futures
building materials rose 18 pct in february after falling by 17 pct in january
other than the commission releasing no sugar for export the likely tonnage is expected to be very small the london traders said while the french sources declined to estimate volume in view of the psychological impact of the planned sales into intervention in protest against ec export policies
american brands said it will introduce a new low priced brand of cigarettes called malibu
the government has said its fiscal policies will balance the budget by 1989
however sims said he did not expect any plywood exports to be including under the lumber guarantee offer
fortune financial group inc said its fortune savings bank acquired a financial security savings and loan association branch in sunrise fla
investor disappointed at caesars caw response
the spokesman added that tre chairman leopold wyler had been interviewed by the sec probers
ccc accepts bonus bid on wheat flour to iraq
the issues carry terms of between five and seven years and will have coupon rates of between 485 and 565 pct in september compared with 545 and 625 pct this march
hoechst attributed its good results to the performance of the parent company other units in west germany and to american hoechst corp improved earnings in the us largely reflected the restructuring of styrene and polystyrene activities
yesterday gaf said a group led by chairman samuel j
brodersohn said the growth targets were not negotiable but argentina did not want to follow brazil in suspending payments on its foreign debt
this meant pioneer shareholders would be paid for all shares tendered within 14 days csr said in a statement
niskanen said if no pact is reached bilateral trade ties could deteriorate because of congressional pressure on president reagan to implement trade laws more aggressively and this could hit some canadian trade practices
the main factor in the january revision was contracts and orders for plant and equipment the department said
musicland group inc tmg 3rd qtr net sept 25
shr 55 cts vs 48 cts net 2520000 vs 2211000 nine mths shr 157 dlrs vs 141 dlrs net 7223000 vs 6475000
a national bank spokesman said the newspaper article was basically correct but that the report was produced six weeks ago and figures were therefore to some extent out of date
usda not planning any major pricing changes
first boston inc fbc 3rd qtr net
mellon said its primary capital ratio at the end of the first quarter will be in line with the end 1986 figure of 723 pct well in excess of regulatory guidelines
corn and sorghum producers who requested advance deficiency payments have already received about 28 billion dlrs and 225 mln dlrs respectively usda said
sales in 1986 represented 118 per cent of the european market share whipple said
under a nonbinding letter of intent signed in june 1986 oxford would pay 11 dlrs per first federal share subject to first federal shareholder approval
he added i do not think there will be a trade war at all on friday washington announced plans to put as much as 300 mln dlrs in tariffs on japanese electronic goods from april 17 because of tokyos failure to observe the agreement
the planned linkup will satisfy tokyos request that only one private company should enter the market
an investor group led by technology growth fund ltd an aspen colo investment firm said it has acquired 129000 shares of distributed logic corp or 52 pct of the total and may try to influence the company
summerfallow crops were in fair to good condition while stubble crops were rated fair to poor
in his letter made available at the treasury volcker also said a proposal to ease debt problems of developing countries by setting up a public facility to buy their debts owed to commercial banks was a problem
wickes cos inc said its board authorized a one for five reverse stock split and plans to call the companys its 12 pct senior subordianted debentures due 1994
smc sources said soriano personally was not among prospective buyers
first eastern corp febc completes acquisition
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
shells product sells for 145 yen per litre 15 yen higher than regular gasoline and has already achieved a 38 pct share of japans high octane gasoline market it said
hearings in a new york state court were delayed until monday
the deficit for the first quarter of 1987 widened to 123 billion dlrs from 120 billion a year earlier
siemens reported world group turnover in 1985 86 of 4702 billion marks
we now wish to keep the countrys growth in order to be able to face the problems of the future funaro said
inflation in the 24 industrialised nations of the organisation for economic cooperation and development was 21 pct in the year to january unchanged from december the oecd said
banks and merchant banks accounted for 32 pct of the total building societies 30 pct life assurance companies 20 pct insurance companies 11 pct and pension funds seven pct
the government should intervene to push the dollar down further if the previous declines do not lead to an improvement in the trade picture if the us budget deficit is not reduced and if foreign expansion does not occur he added
traders said prices were supported by anticipation that the american petroleum institute would report a decline in domestic inventories of petroleum products in a weekly report
s k i which owns killlington and mount snow ski resorts in vt said the california ski area is located in the san bernardino mountains
san miguel deal hit by more lawsuits
occidental petroleum corp said its midcon corp subsidiary will redeem on march 31 all 269000 dlrs of its outstanding 10 1 4 pct convertible subordinated debentures due 2009 at 10718 pct of par
tire plant and its s and a truck tire sales and services corp
shr loss 29 cts vs profit 10 cts net loss 2733000 vs profit 911000 revs 215 mln vs 185 mln 1st half shr loss 23 cts vs profit 26 cts net loss 2154000 vs profit 2445000 revs 378 mln vs 377 mln note current year net both periods includes 6705000 dlr pretax provision for closing overseas operations and tax credits 2511000 dlrs in quarter and 1977000 dlrs in half
stanline inc stan regular dividend
gulf barge freight rates firmed again on the outlook for steady vessel loadings at the gulf increasing the demand for barges to supply those ships dealers said
so far this year api said growth in domestic demand which was up 29 pct from last years year to date level has slowed in comparison to the accelerated growth in the last half of 1986
wtd industries inc said it filed with the securities and exchange commission a registration statement covering a 30 mln dlr issue of senior subordinated debentures due 1997
oil refinery workers picketed the state owned empresa nacional de petroleo sa emp to prevent fuel lorries leaving the companys largest plant in puertollano central spain
it said the loan will finance part of the cost of the 46 mln dlr sas grand hotel beijing in the chinese capital
state owned china steel corp said its steel exports will drop to some 600000 tonnes in the year ending june 30 1987 from more than 810000 in 1985 86
the debentures are convertible into the companys common stock at 4850 dlrs per share representing a premium of 2436 pct over the stock price when terms on the debt were set
president samuel huntington told analysts the utility will have to take a write down of about 235 mln dlrs if federal regulators do not allow the company to pass on the losses cited by the accountants to its rate payers
qintex extends princeville pvdc offer
interfinco sa of luxembourg is launching a 50 mln swiss franc five year convertible bond with an indicated coupon of 2 1 2 pct lead manager sg warburg soditic sa said
the last confirmed iraqi attack took place on march eight when the iranian tanker khark 5 was hit south of kharg
fleet flt aims to speed merger with norstar
japans industrial production index base 1980 rose 03 pct to a seasonally adjusted 1227 in february from the previous month the ministry of international trade and industry said
february was the seventh successive month that seasonally adjusted unemployment registered a fall
it posted pre tax profits of 213 mln stg on turnover of 96 mln stg in the six months to december 31 1986
italys economic outlook for 1987 and 1988 is likely to be less favourable than last year with slightly lower growth higher unemployment and an increased trade deficit the organisation for economic cooperation and development oecd said
meanwhile demand for canadian exports in the united states by far the countrys largest market is expected to be strong as a result of a projected rise in american consumer spending and the relatively low value of the canadian currency
pleas by japanese finance minister kiichi miyazawa for action to stabilise the dollar were matched over the weekend by comments by us treasury secretary james baker that there was no target zone for the dollar
the agriculture ministry said it revised its april june sugar consumption estimate down to 623300 tonnes on a refined basis from 637800 estimated at the end of december
first national bank in mount clemens mich said it is seeking final regulatory approval to form first national bank corp a bank holding company following shareholder approval tuesday
the price hike follows a round of crude oil price increases started late june 17 by sun co
the south korean government originally targeted a five billion dlr current account surplus this year but had to raise this to seven billion to reflect a startling first half export boom
it said the sale leaves it with 108 gencorp common shares
the interim payment to be made on or about june 30 is the full amount of the growers share of 1986 sugar proceeds received to date
it put the 1985 86 crop at 7810 mln tonnes vs 7810 mln tonnes last month
southland slc unit raises crude oil prices
shr 23 cts vs 12 cts net 1535000 vs 783000 rev 400 mln vs 287 mln
the uaw is negotiating with amc over the carmakers demand for economic concessions covering workers at its wisconsin operations without which amc has said it would cease vehicle production at its kenosha wisconsin assembly plant by 1989
benigno told reporters the 53 year old mitsui and co ltd executive was freed yesterday and is being held in an undisclosed hospital
frank b
as previously announced the board of governors of the exchange approved the contract last month
nominal gdp is expected to grow by roughly five pct this year from 5000 billion francs last year broadly in line with earlier forecasts
a year earlier it lost 139000 dlrs or three cts per share on sales of 4271000 dlrs
ken clark the nrcs representative in atlanta said no radioactivity escaped during the incident last night which he described as a relatively minor problem that poses no safety hazard clark said repairs were underway and turkey point unit 4 one of two nuclear reactors at the site south of miami was expected to be reactivated later today
bryson oil and gas plc a belfast northern ireland oil company which has said it is considering seeking control of cenergy corp said it raised its stake in the company to 1281887 shares or 132 pct of the total
the team will lay the groundwork for high level emergency talks next week aimed at defusing an increasingly bitter row over trade in computer microchips officials said
dealers noted that the bank of england last week issued one billion stg of nine pct exchequer bonds due 2002 in an effort to dampen enthusiasm for an interest rate reduction caused by sterlings uptrend on foreign exchange markets
uk money market receives 37 mln stg assistance
the sources noted the operators could withdraw their offers in the five week period between the acceptance of the sugar and payment for it
instrumentarium acquires nokia subsidiary
those banks wishing to extend would receive another 25 basis point fee
shr 12 cts vs 30 cts net 4255000 vs 115 mln revs 1994 mln vs 2587 mln nine mths shr 64 cts vs 119 dlrs net 244 mln vs 455 mln revs 6397 mln vs 8243 mln
the bank of england said it provided the market with 478 mln stg of early assistance to help ease a liquidity shortage it estimated at 110 billion stg
fortune savings to buy financial fssl branch
the parent company had total assets of 210 billion dlrs as of september 30 1986
in a communique the eln said it would demand a tax of one dollar per barrel of crude oil pumped by foreign firms as a condition for maintaining its suspension of the assaults
china adds corn to commitments usda
tri star pictures inc trspo 1st qtr may 31
mielke expects the ratio to fall to 59 weeks by the start of next october and to the unusually low level of 54 weeks by the end of next season
25 mln year shr loss 381 dlrs vs profit 21 cts net loss 108 mln vs profit 435176 revs 76 mln vs 94 mln note1986 4th qtr includes write off of about 373000 dlrs or 13 cts and writdown of assets of 40 mln dlrs
trading was fairly quiet this morning partly owed to the slow us dollar activities they added
honduras will tender april 13 under public law 480 for us and non us flag vessels to deliver approximately 52500 tonnes of various wheats in bulk an agent for the country said
national medical enterprises inc said it filed a registration statement with the securities and exchange commission covering 300 mln dlrs of debt securities
dominion resources inc d 3rd qtr net
sentiment has also been aided by suggestions that chinese operators may be in the market for similar timecharter business later in the year they said
responsible tax reform must be fiscally responsible wilson said in a speech prepared for the house of commons
its an absolutely ideal situation february us industrial production rose 05 pct slightly less than the 07 pct gain the financial markets had expected
net 65 mln vs 57 mln year shr preferred 1487 dlrs vs 1251 dlrs shr common 23677 dlrs vs 19740 dlrs net 247 mln vs 208 mln note federal home loan mortgage corp
dollar straight bonds ended the day barely changed from opening levels as investors failed to react on the unexpectedly large 41 pct rise in us february retail sales prefering to wait for tomorrows producer price and business inventory data
they also said if opec holds its official price structure based on a reference price of 18 dlrs spot price fluctuations should be limited to a 1650 to 1720 dlrs range for dubai and a 17 to 18 dlrs range for the north seas brent blend
cistron biotechnology cist sets dividend
saab scania ab is issuing a 150 mln dlr eurobond due april 2 1992 paying 7 3 4 pct and priced at 101 3 4 pct lead manager morgan guaranty ltd 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 weekend news conference
the world bank had publicly offered 60 bonds in germany since the first issue was launched in 1959 he said
asked if the latest economic reports signal this rate of economic growth is attainable sprinkel said it looks pretty good to me
the problem here will be the tax reform the portfolio manager said
ny grain freights april 7 yukong took nichiku maru 52000 tonnes north pacific to japan april may dates 975 dlrs 11 days all purposes peavey took maria sitinas 26000 tonnes us gulf to puerto cabello and guanta prompt 1525 dlrs four days load 1500 discharge puerto cabello 1000 guanta portline took sky crest 35000 tonnes us gulf to lisbon spot 1525 dlrs 7000 load 5000 discharge feruzzi took alecos m
us senate leaders see no trade war brewing
walbro estimated income for the quarter will exceed first quarter 1986 income which was 1953000 dlrs or 66 cts a share by at least 40 pct
dwg dwg completes sale of unit
farmers incomes increased by 122 billion dlrs in february after declining by 87 billion dlrs in january
swap dealers unveil standard contract
this is the first time a japanese trading house has traded non japanese dairy products in the world market he said
equine is a new mexico quarter horse breeding and racing company
the bank of england said it provided the money market with a further 168 mln stg of assistance to help offset a shortage it now estimated at 105 billion stg revised down from 110 billion
but analysts said the crisis interrupted current policies and could slow economic development
if this continues we can entertain the notion of fed easing at some point he said
world bank issues 232 mln us dlr finance package
industrial investment is expected to rise by 43 pct this year and 55 pct in 1988 down from 65 pct in 1986
the bank of england will be loathe to take any action which it will have to reverse later jeffrey said though he added a further half point cut was quite possible in the near future
sale tilney plc said it has purchased 80 pct of the ordinary share capital of b and r international inc
shr 30 cts vs 12 cts net 3059000 vs 1258000 revs 362 mln vs 291 mln nine mths shr 67 cts vs 24 cts net 6855000 vs 2442000 revs 1009 mln vs 778 mln
the housewives association official said retail beef prices are high mainly because of distribution problems and high production costs as well as poor operations by the lipc
the company said the pipeline was recently constructed from the poplarville gas field in pearl river county to a proposed interconnect with a pipeline operated by occidental petroleum corps oxy united gas pipe line co subsidiary in marion county but has nmot been placed in service
yugoslavia reaches paris pact on part debt
the commodity credit corporation ccc has accepted a bid for an export bonus to cover a sale of 6000 tonnes of semolina to egypt the us agriculture department said
association companies such as rank xerox ltd indicated an improved performance a statement issued at the annual meeting said
it was the third major mine accident in the country in less than a week
lee has said he bought the penobscot stock for investment purposes only and has no plans to seek control of the company although he may buy more stock
the group said it has had a number of meetings over the past few days with domestic and overseas financial institutions
the two groups have also begun exploratory talks on a possible merger of the holmes business with the compatible businesses of wormald comprising some or all of its fire protection and security businesses in the americas and europe wormald said in a statement
shr loss 15 cts vs profit nil net loss 392428 vs profit 1255 revs 6371092 vs 3031091 avg shrs 2544000 vs 1440000 year shr loss 13 cts vs profit seven cts net loss 274951 vs profit 100534 revs 181 mln vs 108 mln avg shrs 2072153 vs 1440000
managers responded well to the demand for lower operating costs and this has been achieved worldwide
general partners a partnership of privately held wagner and brown and afg industries inc afg made the disclosure in a newspaper advertisement
economist wendy smith cork of the brokerage nesbitt thomson bongard inc said it shows the economy is not moving along very steadily its not a very promising number we werent surprised we expected to see one bad quarter in canada but we dont think there will be a recession she added
gains in goods producing jobs were subdued at best
liquefied natural gas imports from algeria are unlikely to happen in 1987 even though its economically feasible us industry analysts sources said
arizona silver asc reports on burro creek
twa earlier this month reported holding slightly more than four mln shares or about 15 pct of usair
unless reason prevails and the major producers return to the conference table the world coffee market will remain free and the consequences for some producers dependant on coffee for their foreign exchange earnings would be catastrophic sroka added
these delays were caused by a shortage of railway wagons in uganda and bottlenecks on the ferries which transport ugandan wagons across lake victoria to link up with the kenyan and tanzanian railway systems the sources said marketing minister john sebaana kizito publicly acknowledged on february 19 that the cmb had run up arrears to local suppliers as a result of the shortage of transport for moving exports
the ministry of international trade and industry miti has asked about 30 japanese trading houses and exporters to refrain from excessive dollar selling trading house officials said
argentinas controversial new financing package should be completed quickly thanks to a wide range of innovative options in the deal said jorge gonzalez undersecretary for external debt in the economics ministry
about 9000 miners employed by the state corporation comibol went on hunger strike to press for higher wages a miners union spokesman said
price includes 14 mln dlrs of safety kleen common stock cash and a rerefining plant owned by safety kleen
oper shr 99 cts vs 54 cts oper net 9515000 vs 3449000 revs 5093 mln vs 4405 mln note 1985 net excludes extraordinary gain of 12 mln dlrs
us feedgrain 0 92 supporters evaluate position
japanese firm has 107 pct of sheldaul shel 
norton co said it has agreed to sell its remaining south african business norton co pty ltd to global mining and industrial corp of south africa for undisclosed terms
magellan said it will be the surviving corporation following the merger
the mexican government said in a statement that the deal should result in about 250000 extra tourists per year the creation directly and indirectly of more than 15000 new jobs and annual foreign exchange gains of over 80 mln dlrs
1985 year net includes pretax loss 6600000 dlrs from plant closing provision
shr 17 cts vs 20 cts net 3121000 vs 3624000 revs 602 mln vs 590 mln avg shrs 183 mln vs 182 mln six mths shr 40 cts vs 48 cts net 7429000 vs 8743000 revs 1247 mln vs 1261 mln avg shrs 183 mln vs 181 mln
pete domenici a main sponsor of legislation to set an oil import fee said the administrations energy security report was based on flawed economic assumptions
decoupling would end the current bias in us farm policy towards overproduction and reduce farmers dependency on the government he said
olin oln unit acquires image technology
in its international weather and crop sumary the agency said mixed rain and snow covered greece
the bond pays interest annually on march 25 and matures on the same date in 1992
bell and howell bhw completes sale of unit
the bank of england said it did not operate in the money market during the morning
he said the 21 storey wayfoong plaza was likely to be sold for about 280 mln hk dlrs but declined to identify the buyer
anticipated higher energy and raw material costs combined with current market trends were cited by the company as reasons for the increases
year 1986 and prior excludes loss discontinued operations 3509000 and 5278000 respectively
the sources said the bulk of this weeks loan would be used to rehabilitate the state owned development bank of the philippines dbp and the philippine national bank pnb which are saddled with seven billion dlrs of non performing assets
payment date will be april 8
business investment is forecast to rise four pct a year this year and next after 37 pct last year with private sector productive investment rising 49 pct in 1988 after a six pct rise this year and 55 pct in 1986
treasury secretary james baker said there has been no change in us policy on the value of the dollar
gtx noted that nippon is expecting sales of 27 billion dlrs by 1995
this would spark a trade war he said
because of this discord and the markets momentum for a lower dollar analysts said intervention looks doomed to fail
petronas said in february that malaysia would maintain its 10 pct production cutback until mid 1987
us exporters report 122000 tonnes corn sold to mexico for 1986 87
carney said there was a lot of political will among the ministers here to complete the uruguay round of gatt in under four years and that there is also a realisation that it has to be done in a balanced way
the cost of living an index that includes services and utilities as well as retail prices was up 73 pct in february from january and stood 936 pct higher than in february 1986
the payment was in connection with dixons previously announced agreement to increase its tender price for cyclops to 9500 dlrs per share cycacqs ending of its competing bid and the ending of litigation between the parties
merchants mchno to report 2nd qtr loss
they also have to recognize that they cannot in the long run develop a healthy and stable farm sector on the basis of protectionism and excessive subisdies
cattle slaughter is guesstimated at about 123000 to 126000 head versus 123000 week ago and 121000 a year ago
the administration has strongly objected to this transfer of authority from reagan to yeutter
brazilian cocoa exporters are not likely to follow the example of cocoa producers alliance cpa members who may limit sales of the product in an effort to boost world prices trade sources said
swift sftpf to sell south dakota pork plant
southam said the proposed sale resulted from an offer made by whitehead whose family has had majority control of the newspaper since 1905
the average yield on the six month bills was the highest since 589 pct on july 28 last year
note net is after tax 17103 mln dlrs vs 18852 mln interest 33739 mln vs 30868 mln depreciation 35232 mln vs 33305 mln but before net extraordinary loss 25028 mln vs profit 2803 mln
he earlier estimated the damage from the us raid at about 500 mln dlrs
river plate malaysia 20000 22000 long tons hss 2000 2000 apr
a special taiwanese trade delegation leaves for washington tomorrow to try to renegotiate an agreement signed last year limiting exports of taiwan textiles
conrac cax urges no action on bid
citicorp cci rules out credit card price war
these six varieties would also be used to replace trees uprooted or base budded de mel said
merrill lynch and co inc mer subsidiary seeking to take over of borg warner corp said it could realize a 30 mln dlr fee for its efforts whether or not the deal which it values at 47 billion dlrs succeeds
australian currency trading set record in january
ltv said the bank credit agreement also provides for the funding on a revolving credit basis of about 160 mln dlrs of outstanding secured lines of credit in the event such letters of credit should be drawn in the future
ec us remain divided over pasta dispute
shearson lehman livestock analyst chuck levitt said futures will be in the shadow of a little larger seasonal hog marketings pace next week
it said agreements are being concluded to give it a beneficial 724 pct interest
avnet named dillon read and co inc as manager of the offering
dividend is payable november 23 record november 9
national self also said it and southmark plan a two year 100 facility expansion program in south florida and across the country
the advances were made largely to four banks canadian commercial bank northland bank continental bank of canada and the bank of british columbia
japan is becoming dangerously isolated again as the us and europe feel they have been cheated by japanese promises to switch from export to domestic led growth officials and businessmen from around the world said
the 14 mln tonnes capacity bauxite refinery at paranam in surinam which closed at the end of january after being sabotaged by anti government rebels has now reopened a spokesman for dutch metals company billiton said
canada upholds countervail duty on us corn
the banks merged on march 16 and have combined assets of about 14 billion dlrs
the storm produced winds of about 75 mph
chase manhattan securities ltd international economist andy wrobleski noted the bank has already raised about 18 billion stg of next years funding needs this year via a series of tap issues
the rigs wont go back to work until the price of oil gets above 30 dlrs a barrel said pickens 58 adding he did not expect to see the rig count top 2000 again in his lifetime
they said the philippines was now willing to pay a spread of 7 8 percentage points over london interbank offered rates libor up from the 5 8 points it originally proposed
reagan has come under heavy pressure to take tougher action especially against japan to end global unfair trade practices and reverse the growing us trade deficit
miyazawa says g 7 still supports louvre accord
coceral argues that this would restore the original function of intervention as a safety net and would end the present situation in which produce is often sold into intervention as a precaution
the debentures have an 8 1 2 pct coupon and were priced at 99 to yield 97 basis points over the off the run 9 1 4 pct treasury bonds of 2016
gulf canada goc acquires suez oil stake
gottlieb joined lorimar as senior vice president in 1985
owned by john r
in washington president reagan said the united nations was being informed of the attack under the provision of the un charter regarding notification of actions taken under the right of self defense
buffton corp said it completed the purchase of b and d industruments inc for two mln dlrs cash and 400000 shares of common stock
this accounted for 178 mln barrels of a worldwide downward revision of 188 mln barrels with 158 mln barrels of the total revision occurring in the united states the report said
the bank said earnings from domestic operations rose to 103 mln dlrs in the first quarter from 98 mln dlrs a year ago while earnings from international operations plunged to 11 mln dlrs from 42 mln dlrs last year
rabobank nederland ba said it is launching under its own management a 250 mln guilder eight year bullet bond with a 6 3 4 pct coupon and priced at par
the four exxon corp xon mobil corp mob texaco inc tx and chevron corp chv signed a long term agreement last month to buy saudi crude for 1752 dlrs a barrel
one trade source said india has targetted countries that depend on an indian domestic market recently opened to foreign imports
investor has technology development tdcx stake
a surge in automobile assemblies in february and a gain in primary metals production helped raise manufacturing to 801 pct capacity from 799 pct in january
its board has approved the deal it said
mci communications corp mcic made a similar filing yesterday saying greater the moves would increase competition in the telephone business
taiwan imported about 210000 tonnes of south african maize between january 1 and april 13 the joint committee of local maize importers said
japan conducts currency survey of big investors
colonial bancgroup said it agreed to buy first national bank of destin for an undisclosed sum
london house inc londo year april 30 net
west german banks have taken a more relaxed attitude to the brazilian suspension of interest payments than institutions in the united states because of their lower exposure
canada northwest to sell preferred shares
crude oil imports in the week fell to 340 mln bpd from a revised 360 mln api added
the companys total assets reached 6987 billion guilders in 1986 against 67 billion the year before
the company also said its board has authorized the repurchase in the open market or privately from time to time of up to an additional five pct of its own shares and the establishment of an employee stock ownership plan
quantech electronics corp said it is investigating available means of raising additional funds needed to finance continuing operations but there is no assurance that it will succeed
the bulk of the governments fiscal surplus is invested by the treasury with the exchange fund against the issue by the fund of interest bearing debt certificates financial secretary piers jacobs said
indias state owned oil and natural gas commission ongc plans to drill more wells in the bombay offshore area where a well spudded in february this year gave both oil and gas an ongc spokesman said
intervention rate was last raised to eight pct from 7 1 4 on january 2
cordovez also said in the statement the banks should perceive that it is impossible at this moment to comply with what was forseen cordovez added ecuador must make a new proposal in line with the reality since the earthquake by seeking better options of deferment and of softening the negotiation conditions interest payments fall due at least monthly to private foreign banks
sunter acquisition corp and sunter holdings corp were formed by first boston and allegheny
kubota ltd kubt third quarter to january 15
kaiser steel corps plant in napa calif has been purchased by oregon steel mills for 16 mln dlrs the privately owned portland company said
the target for the narrow measure of money supply m0 was kept unchangd at two to six pct while the target for the broad sterling m3 aggregate was dropped
one latin american debt official said he saw the brazil and ecuadorean announcements as spurring moves by other debtors to link debt service payments to macroeconomic indicators such as export earnings gdp or raw materials prices
after 1984 all banks started to be more careful in giving credits so the non performing loans is a problem of the period between 1980 to 1984 erk said
in contrast soybean acreage is likely to be cut the most in marginal producing areas of the southeast and the western corn belt a usda soybean analyst said
price co pclbo 3rd qtr june seven net
smit is still preparing its final salvage plan and said the work would begin on sunday
he said no asset sales are planned this year as long as oil prices dont fall sharply lower and stay at lower levels for several months
later white house spokesman marlin fitzwater defended the new sanctions against japan and said administration officials do not believe this will result in a trade war it is the first time that the united states has taken an action of this type and it is significant but it is nothing to be alarmed about the presidential spokesman added
subsidiary fixed income securities
at present the standard or bottom price of castrated wagyu beef known as marbled beef is 1400 yen per kilo while its ceiling is 1820 they said
it plans to make an official estimate of the forthcoming crop next month dauster said
ashland oil chairman sees loss from operations in the second fiscal quarter
the sixth is in canada
mexico today received the first 250 mln dlrs of a 500 mln dlr credit from japans eximbank aimed at financing a mexican oil pipeline project the finance ministry announced
jacor jcor to buy two denver radio stations
rising service payments on kenyas three billion dlr external debt will absorb nearly all the 11 billion dlrs of foreign aid likely over the next four years president daniel arap moi said
they gave no figures
asked if he saw the need for a greater military presence by the allies in the gulf shultz told reporters not necessarily particularly so but he said an adequate force was needed to deter attack and noted that the british and the french as well as the united states maintained naval contingents there
record low coupon on sumitomo swiss convertible
union carbide says operating profits for 4th qtr were 181 mln dlrs vs loss three mln dlrs
vag which finances the purchase of new and used cars for vw customers said 1986 profits met expectations but gave no details
it said it received a 200000 dlr payment to deal exclusively with sterling through march six
kuwaits oil exports have not been affected by the seven year iran iraq war kuwait oil tanker company kotc chairman and managing director abdul fattah al bader told a kuwaiti newspaper
bahrain monetary agency figures show regional currency deposits held by offshore banks most in saudi riyals dropped to the equivalent of 122 billion dlrs at end september 1986 from 134 billion at end 1985 and a 1983 peak of 150 billion
the issue is being lead managed by j
mead said it will use the proceeds to retire outstanding short term debt a portion of which was incurred to finance part of recent acquisitions
thailand expects increased overall coffee export revenue if there are no restrictions on sales to current ico members who offer higher prices than non members he said
sama offers a total of 19 billion riyals in 30 91 and 180 day paper to banks in the kingdom each week
analysts estimated the 100 dlr per share offer from general partners is 10 to 20 dlrs per share below the breakup value of gencorp
daily telegraph in deal with news international
the forecasts were calculated on the assumption that the non expansionary monetary policy carried out by the current government would be maintained particularly in budget spending and income and in wage policy
chancellor of the exchequer nigel lawsons budget contained virtually everything the government bond gilts market had hoped for and is likely to help prices race ahead in coming months analysts and traders said
the rains were less intense in chaco and formosa
revenues advanced to 337 billion dlrs from 312 billion dlrs
transco energy e calls 3875 dlr preferred
general acquisition requested it be given a chance to bid on a competitive and fair basis before any final decision was made on any other buyout proposal
cyclops corp reforms board after dixons group fails to get majority of cyclops stock
i think that we still need to be building as much canadian position in this industry as we can and i think it would be best if dome ends up in the hands of canadian management he said he did not know who other possible bidders were
private traders had argued that epac given its dominant position in the portuguese grain market had an unfair advantage over them
pittsburgh and west virginia railroad pw net
few banks have so far reduced lending rates to private customers though lending rates for corporate customers are beginning to decline
a sinking fund that starts in 1998 to retire five pct of the debentures annually can be increased by 200 pct at the companys option
in a filing with the securities and exchange commission the san jose calif gas lasers and accessories company also said its board sunday agreed to a plan that gives 52 top executives bonuses ranging from 20 to 50 pct of their base salary if they stay with the company through august 29
final terms will be fixed on april 10
kuwait says no opec member violating output quota
judges offer of 38 billion pesos is about five pct of the philippines yearly budget ariadnes philippine agent domingo panganiban was quoted as telling reporters yesterday
fidelcor inc said it has acquired a substantial portion of the assets of bank of new england corps lazere financial corp subsidiary for undisclosed terms
corrected media general inc ups annual div to 68 cts shr from 64 cts sets stock split corrects to show raise in annual div not qtly
ohio edison sells 30 pct of nuclear interest for 509 mln dlrs
however condon said he did not believe plantings would be cut by as much as 30 pct although he realised many farmers were facing enormous financial pressures
friday funds averaged 605 pct
s and p also withdrew the a rating on the outstanding non callable 11 3 4 pct lear senior notes of 1991
the central bank bought bank bills outright comprising 15 mln stg in band one at 9 7 8 pct and 176 mln stg in band two at 9 13 16 pct
in the year ago second quarter buffton reported net income of 10 cts a share or 330000 dlrs on sales of 103 mln dlrs
the company said the next three consecutive quarters should demonstrate excellent earnings growth
inflation has literally disappeared from the face of the earth in the industrialized world but interest rates are still near seven pct industrial powers must also improve the coordination of their economic policies to boost unacceptably low growth rates and to keep export markets open said gurria who is mexicos chief debt negotiator
elcor elk ups qtly div sets stock split
the parachute creek oil shale plant produces about 4000 to 5000 barrels per day of crude shale oil unocal said
sea containers ltd scr 4th qtr loss
weather hurting yugoslav wheat usda report
cocoa delegates optimistic on buffer stock rules
the treasurys operating cash balance totaled 24816 billion dlrs on feb 27 compared with 26702 billion dlrs on feb 26
miyazawa would not say what specific measures major nations would take but told reporters the measures had been discussed in paris
century said it anticipates that ml media partners lp which jointly owns with century a company called cable television co of greater san juan will join in acquisition and management of community cable
the sec is structured as an independent regulatory agency meaning that its five commissioners are appointed by the president to fixed five year terms and protected from firing for policy differences alone
the ministry of international trade and industry miti has urged producers to slash output of the chips by 11 pct in the second quarter following a call to reduce production by more than 20 pct the previous quarter
bangemann said the steel and coal industries were no longer capable of being competitive
continued real wage moderation was essential to maintain the competitive edge created by the australian dollars depreciation and to maintain if not boost profit shares in order to encourage business investment
tie communications inc tie 4th qtr loss
it will be built on 2964 acres and estimates put the cost as high as 10 billion dlrs
frozen pork belly stocks at 345 mln lbs on march 1 compared with a revised 349 mln lbs on february 1 for a net out movement of 05 mln lbs
shr 31 cts vs n a net 671000 dlrs vs 1256000 dlrs year shr 185 dlrs vs n a net four mln dlrs vs 28 mln dlrs assets 4264 mln dlrs vs 3341 mln dlrs deposits 3231 mln dlrs vs 2772 mln dlrs loans 3359 mln dlrs vs 2549 mln dlrs notethe company does not give 1986 per share earnings as it converted from a mutual savings bank to a stock savings bank in january 1986
webb investment dwpa 4th qtr net
cathay 51 pct owned by swire pacific ltd swpchk made its earnings forecast in the prospectus for its flotation in may last year
in a joint statement american express and shearson said the actions under consideration are an integral part of american express worldwide financial services strategy and that the two companies have been having both internal and external discussions on the matters
assets 200 billion vs 186 billion loans 1293 billion vs 1223 billion deposits 1181 billion vs 1110 billion 3rd qtr 1987 reflects previously announced aftertax gain of 163 mln from recognition of pension plan over funding and 139 mln of tax benefits from the three billion provision
corrected banponce bdep places notes
traders said further reductions by malaysia would add to the tight spot availabilities of asian grades caused by reduced indonesian and chinese crude output
a meeting among government agencies today reaffirmed the strong opposition of the united states to a proposed new tax on vegetable oils and fats in the european community us trade officials said
strong daily fundamentals may add to nearby support while the current discount of deferred months to the cash market may offset much of the effect of the report analysts said
qtly div five cts vs five cts prior pay june 15 record may 18
goodyear tire and rubber co said the all american pipeline of its celeron corp subsidiary will start line fill activities on march 30 as it begins operating
the move brings the price the company will pay for the us benchmark grade west texas intermediate and west texas sour to 19 dlrs a barrel
international dairy queen indqa 1st qtr net
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
britains gold and currency reserves rose a record underlying 476 billion dlrs in may following aprils 29 billion dlrs increase the treasury said
analyst sanford margoshes of shearson lehman brothers said he recommended a number of oil stocks today now that it is apparent that opec has succeeded in holding to its prescribed production quotas
teleconcepts corp tcc 3rd qtr net
many of the loans that would be affected by the tax change are those to less developed countries such as those in latin america
passport travel inc ppti 1st qtr feb 28 net
the best way for bonn to help its exporters is to work actively to promote free world trade he added
south korea has two projects in hand which will increase its ethylene production capacity by 500000 tonnes a year by the end of 1989 so the strong demand surge for imports is only a medium term trend they said
restructuring of the downstream oil sector contributed to a profit rise to 187 mln stg in 1986 from 91 mln stg in 1985
joining the board were leonard lichter pierre schoenheimer and roger kirk the investors designates the company added
about 7000 acres are planted with the high yielding ric 103 variety the clone afflicted by corynespora
shr loss 30 cts vs profit 11 cts net loss 1247000 vs profit 454000 revs 123 mln vs 175 mln year shr loss 24 cts vs profit 32 cts net loss 979000 vs profit 1303000 revs 606 mln vs 617 mln
brooklyn unions bu unit to expand drilling
these were also underwritten by lloyds and other companies
uk average gdp rises 26 pct in 1986
the overall majority of non opec producers have not responded sufficiently to opecs calls for supply regulation he said
i see no evidence that the philippine government even contemplates doing that
usp real estate investment trust usptso 3rd
security capital corp said it has suspended quarterly cash dividend payments indefinitely
the indonesian commodity exchange is likely to start trading in at least one new commodity and possibly two during calendar 1987 exchange chairman paian nainggolan said
economic growth seen sluggish in benelux countries
oper shr loss 31 cts vs profit three cts oper net loss 887886 vs profit 646250 revs 9724418 vs 108 mln note year ago oper net excludes tax credit of 230000 dlrs
the administration has proposed a goal of 700 million dlrs worth of strategic materials to be held in the stockpile
it said it would offer 1500 billion lire of six month paper priced at 9535 pct for a net annualised compound yield of 930 pct
the food and drug administration approved human trials will be conducted on at least 30 patients male and female for each cancer type
firstier financial inc frsto 3rd qtr net
these ranges were set in februarys stabilisation agreement reached here by us treasury secretary james baker and the finance ministers of japan germany france britain and canada
the dollar opened lower against virtually all currencies and traded in a narrow range after the communique which reaffirmed support for the paris accord on currency stabilisation but contained no moves to strengthen it
us oil tax break proposal to be examined
central maine power co ctp sets quarterly
m a com mai expands buyback names president
western ranchman had sales of about 22 mln dlrs for the year ended jan 31 1987 the company said
comment from officials in zaire was unavailable
the adjusted february index of producers finished goods base 1980 fell 13 pct to 1045 from january when it fell 03 pct from december
banking sources said commercial banks would not be involved in todays talks with funaro
the program will be investor driven he noted adding that the company wants the notes placed with end investors and not traded in the secondary market
it the bottom is in the offing he said
citibank a s ccin the norwegian subsidiary of the us based bank said it made a net loss of just over six mln crowns in 1986 although foreign bankers said they expect it to show 1987 profits after two lean years
for a government to take the view that it wants to keep order in utilities markets is not an unusual and or unreasonable view he said
kuroda said the us decision was based on incorrect data and an exaggerated sense of mitis power to control market forces
oper shr loss five cts vs loss 128 dlrs oper net loss 155000 vs loss 3982000 sales 371 mln vs 342 mln note net excludes losses from discontinued fabric finishing operations of 3431000 dlrs vs 5910000 dlrs
it said the debenture would have a five year term bear 10 pct yearly interest and be redeemable by first toronto after one year at issue price
uk firm ups italy fund ita stake to 12 pct
royal bank of canada said it classified 13 billion dlrs in medium and long term loans to brazil as non accrual leading to a seven pct drop in second quarter profit
it has indicated that it would not put payment of interest due on its foreign debt ahead of its growth target if the loan was not granted
supermarkets general corp said it agreed to sell 11 super drug stores to f and m distributors the nine existing and two unopened stores are located in maryland virginia and upstate new york and are operated under the pathmark super drug trade name the company said
the new increase in interest rates has come precisely when we thought they had still not come down enough iglesias said
brazil has a storage capacity of 66 mln tonnes theoretically sufficient for the crop
csr says it is retaining non delhi gas oil stakes
sand w
according to the restructuring carter hawley plans to spin off its specialty stores including neiman marcus bergdorf goodman and contempo casuals into a new company named neiman marcus group whose shares will trade on the new york stock exchange it said
he told an informal general agreement on tariffs and trade gatt meeting the widening gap between developed and developing countries and an inequitable international economic system were major impediments to growth in developing countries
nogales said bolivia would offer to buy back the debt at a market price
tesfay accused the west of intransigence in the negotiation of recent commodity agreements
eagle entertainment inc said its subsidiary performance guarantees inc issued completion bonds for two films with a production value of five mln dlrs
aldershot agrees to acquire intracoastal refining
but he added the consequences would not only mean slower economic growth in the coming years but also further exhaustion of the economy and lasting damage to the economys capacity for development he said
earlier the company reported fourth quarter 1986 net of 15 mln dlrs or 26 cts a share up from 11 mln dlrs or 19 cts a share in 1985s fourth quarter
we believe that this indicates good producer support for the new checkoff
in the services sector increases in finance insurance and communication were more than offset by declines in transportation storage and the retail trade
national security insurance co said a group of investors has acquired 226243 common shares or a 222 pct interest for 2750 dlrs per share
year to march 31 shr 280p vs 214p final dividend 9p vs 65p making 12p vs 93p pretax profit 5316 mln stg vs 4512 mln turnover 6411 mln stg vs 6397 mln group operating profit 5763 mln stg vs 4906 mln share of associates profits 133 mln stg vs 387 mln investment income 159 mln stg vs 219 mln interest payable 738 mln stg vs 1001 mln tax 1648 mln stg vs 1760 mln leaving 3668 mln vs 2751 minorities debit 158 mln stg vs debit 139 mln extraordinary items credit 295 mln stg vs debit 812 mln operating profits breakdown by class of business building materials manufacture 237 mln stg vs 209 mln distribution 101 mln stg vs 75 mln specialist print and pack 126 mln stg vs 96 mln international 60 mln stg vs 56 mln head office and property 46 mln stg vs 36 mln discontinued sold businesses 589000 stg vs 24 mln operating profits geographic breakdown britain 514 mln stg vs 433 mln africa 33 mln stg vs 34 mln australasia 14 mln stg vs 854000 stg north america 15 mln stg vs 16 mln note full name is norcros plc ncrol
levitt corp lvt 4th qtr net
caterpillar inc cat 3rd qtr net
the european investment bank is issuing a 300 mln luxembourg franc seven year private placement with a coupon of 7 3 8 pct and priced at par lead manager caisse depargne de letat banque de letat said
the us has been promised a near monopoly of maize exports to spain from third countries guaranteed under an agreement with the european community an ec official said
investors have been stuck with billions of dollars of notes on their books that no one else will buy
the sale of cgct which controls 16 pct of frances telephone market has been priced at 500 mln francs and three international consortia are battling for the right to buy it
senior us officials have accused tokyo of failing to live up to the accord and have threatened retaliatory action
shr profit seven cts vs n a net profit 587000 vs profit 3231000 sales 185 mln vs 187 mln nine mths shr loss 39 ct s vs n a net loss 2368000 vs protit 7165000 sales 554 mln vs 542 mln note current nine month figures include extraordinary loss of 12 mln dlrs or 17 cts per share resulting from costs associated with restructuring
its an option not an obligation a spokesman said
sources said wilbur believes hercules will be successful in its diversification but he told clients the stock market is more receptive now to chemical companies than aerospace companies
standard srd mobil mob plan offshore platform
us warships destroyed an iranian oil platform in the gulf on monday and the navy also raided a second oil rig in retaliation for fridays iranian missile attack on a us flag tanker the pentagon said
however the reagan administration is considering whether to allow plywood sales to be covered by the credit guarantee program sims said
three markets are involved at present but the new exchange could ultimately combine five markets
total general government receipts were forecast to rise to 1688 billion stg in fiscal 1987 88 and among the main items besides diminishing oil revenues were projected income tax of 40 billion stg up from 384 billion in the current year
our current position is the strongest in modern ncr history with new generation offerings deliverable in every major category this year for 1986 ncrs earnings rose nine pct to 342 dlrs a share on sales that increased 13 pct to 49 billion dlrs
brazilian finance minister extends trip to japan
we think sanctions must be applied for past violations of the agreement the california republican said
london grain freights
another change introduced in the new inra is that price reviews will be held at 15 month intervals instead of 18
he said non opec member norway which he visited two weeks ago had pledged further cooperation with the group and this was significant for its members
baker seeks more bank loans to developing nations
it added that proposals are due back by august three
halcyon investments a new york investment partnership that deals mainly in risk arbitrage and stock trading said it raised its purolator courier corp stake to 726700 shares or 95 pct from 474900 or 62 pct
this pattern will likely continue during 1986 87 since domestic soyfood processors prefer chinese beans and are willing to pay a premium for them it said
gaf gaf seeks all of borg warner bor 
the armacost discussions with deputy foreign minister ryohei murata and other senior japanese officials will focus on us japanese foreign aid programs and political security issues of mutual concern she added
the company spokesman later said the charges will be insignificant and will have no impact on earnings estimates
commenting on the survey cbi economic situation committee chairman david wigglesworth said sterlings more competitive level against many european currencies had improved exports
but a senior official of the national merchant marine union jorge luis leao franco told that the strike would continue regardless of the tribunals ruling
dual lite inc mdt sets quarterly
shr loss 15 cts vs loss 112 dlrs net loss 414331 vs loss 31 mln revs 738 mln vs 691 mln year shr loss 99 cts vs loss 169 dlr net loss 27 mln vs loss 47 mln revs 2769 mln vs 2901 mnln
the agency requires public companies and investment vehicles such as mutual funds to issue periodic reports on their financial condition and to disclose changes in their condition any time they issue new securities
glenfed inc gln 3rd qtr march 31 net
turkey current account deficit widens in july
yonhap said the january september surplus in the current account which covers trade in goods and services totalled 703 billion dlrs
asked about the prospect of a priority for agriculture in the negotiations he said one has to be politically realistic if there is any chance of getting it agricultural trade reform done in two to three years its going to have to be as part of a larger package
we are deliberately defending the price so opec production is less than 158 mln at the moment he stated
bank of boston bkb sees improved 1st quarter
an additional 162500 tonnes of wheat flour are still available to iraq under the export enhancement program initiative announced january 7 1987 usda said
it will still be owned equally by mhi and caterpillar and will be set up with the aim of centralising mhis excavator business
de los angeles earlier complaint related to smc assuming last december a 265 mln dlr loan contracted by smcs hong kong subsidiary neptunia corp for a down payment on the shares
he cautioned that while growth so far was high the targets had not yet been achieved
waccamaw had assets of 228 mln dlrs as of march 31
on a current prices basis gdp was up 11 pct totalling 894362 billion lire in 1986 against 805754 billion in 1985
world closing stocks of primary zinc at smelters excluding eastern bloc countries fell 7700 tonnes in february to 459100 tonnes from 466800 revised from 449600 in january compared with 403700 in february 1986 provisional european zinc institute figures show
however on the first day of trading the market will open at 1000
currently us growth is fragile and depends heavily on an improvement in trade
south africa salvador brazil 15000 long tons manganese ore 2500 1500 end april
but lewis and others noted that building societies had been complaining to the government about intense competition from national savings which they argued reduced the scope for early mortgage rate cuts
it also gives him authority to decide whether foreign trade practices are unfair and violate us trading rights
the advances however were offset by a deceleration in household demand
individual investments are expected to range between one and 10 mln ecus and are likely to be concentrated in the uk germany and france
other details were not disclosed
texon said completion of the acquisition is subject to the consent of banks and third parties and the acquisition would be made for promissory notes and common stock
hearings are scheduled to continue tomorrow
even classic fixed rate issues after being neglected since the end of last year are finding buyers one banker said
it said it will add to that a reserve for investment losses in argo communications corp
azraai said the malaysian governments development expenditures were cut by about 25 pct in 1987 while those of state enterprises were reduced by 41 pct
a greek based international consortium north aegean petroleum co had given up plans to start searching for oil in international waters east of thasos island it said
israel has drawn up a five year plan for 1987 1991 to raise agricultural production by 500 mln dlrs to 27 billion dlrs an annual rise of 34 pct the israeli ministry of agriculture said
albany international corp aaicao 3rd qtr net
the barley malt is scheduled for shipment during april 1987
finance minister dilson funaro said in a television interview it was absolutely important for brazil and its creditors to renew the short term credit lines as brazil must finance its exports
bifs created in december 1985 and reserved for issue by certain specialised financial bodies are negotiable securities with a life of between two and five years and are issued in units of five mln francs
based on current interest rates it estimated in a filing that the move will reduce net income by about 800000 dlrs in the first quarter and 32 mln dlrs for all of 1987
porex technologies porx sets initial dividend
the cost of living which includes rents and costs such as utilities and transport was up 78 pct in march from february to stand 948 pct higher than in march 1986 the fso said
placer has estimated the epithermal deposit located on the eastern half of misima island off the southeastern coast of papua new guinea contains proven and probable reserves of 621 mln tonnes grading 135 grams tonne gold and 20 grams tonne silver and exploration is continuing
texaco tx eurobonds unquoted at market opening
woolworths variety store operations were hard hit in the 1970s and early 1980s by the quickly growing discount store industry
japans minister of international trade and industry hajime tamura will meet representatives from 151 of the nations largest companies next week and appeal to them to do their best to increase imports ministry officials said
reunion 1 2 ports portugal 10000 mt bulk sugar about 20 dlrs 2000 750 1 10 5 a c french charterer
nakasone told reporters he did not expect us policy to change after volcker steps down
french economists including cheval at indosuez agreed with the report
short dated saudi riyal rates firm in quiet market
but he added that he felt mhi could sell to those markets with japanese government financial support
pfaudler and kennecott are subsidiaries of standard oil
armistice eludes ec and us in spaghetti war
mitsubishis share price fell 30 yen to 1200 on the tokyo stock exchange today
aydin corp said it has received a five year 54 mln dlr contract from the us air force for production of nine an mst t1a multiple threat emitter system ground based emitter simulators
they seem undecided on what to do with the fresh yen cash positions resulting from their dollar sales today and are sidelined until the currency market stabilises and the interest rates outlook clarifies a nikko securities co ltd currency trader said
controversy surrounding us backed reforms in the inter american development bank iadb underscores the mounting challenge to washingtons current debt strategy according to latin american officials and delegates to the iadb meeting that begins here today
the company said the modernization will allow the unit to regenerate catalysts on a continuous basis without shutdown
i wish for a european solution that will enable germany and france to move closer together which is currently necessary he was quoted as saying
a group led by gfi nevada inc a subsidiary of general felt industries a saddlebrook nj carpet maker said it cut its stake in allied products corp to 169888 shares or 34 pct from 288652 shares or 58 pct
the republic of finland filed with the securities and exchange commission for a shelf offering of up to 550 mln dlrs of debt securities including notes and bonds and or warrants to buy debt securities on terms to be determined at the time of the sale
world bank issues australian dlr zero coupon bond
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 dollar
pakistans trade deficit narrowed to 264 billion rupees provisional in february 1987 from 285 billion final in january and compared with 294 billion in february 1986 the federal bureau of statistics figures show
noranda says fire caused 10 mln dlrs in damage
a series of acquisitions in the next four years has pushed its capitalisation up to around 380 mln
the company reported its 1986 profits were 44 pct lower at 1546 mln guilders than in the year before
gillette canada issues 500 mln french franc bond
uk april industrial output rises 03 pct manufacturing up 055 pct official
vanzetti systems inc said its shareholders approved increasing the number of authorized shares to five mln from three mln
the firm is sustaining a trend that first emerged in early 1986 investment bankers said
we believe that significant increases in taxes would not reduce deficits and could have adverse effects on growth sprinkel told the house rules committee
the new figures bring cumulative wheat exports for the period july 1 february 13 to 299 mln tonnes and barley to 296 mln compared with 125 and 189 mln tonnes respectively a year ago
basix corp said it has agreed in principle to sell the stock of its automatic toll systems inc subsidiary to cubic corp for about 26 mln dlrs
the banks have responded by laying the groundwork for writing down brazilian loans
english has agreed to support an amendment by rep
one for five bonus issue third qtr net 2060 mln dlrs vs 2386 mln third qtr sales 211 billion vs 210 billion
chile is the worlds leading copper exporter and sales account for just under 50 pct of its export income
ealier treasury secretary james baker told the committee that the trade deficit had levelled off but baldrige said he was more optimistic adding i think we turned the corner in february
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 dollar fell as low as 14290 yen despite central bank intervention at 14300 yen dealers said
woodside said a 928 mln dlr capital profit on the sale would be included in the 1987 accounts
previously it had held 841887 shares or 85 pct
shr 22 cts vs 13 cts net 7121000 vs 4481000 revs 374 mln vs 228 mln avg shrs primary 30067000 vs 29735000
the research arm of nomura securities co forecast unemployment would exceed two mln by mid fiscal 1987 against an estimated 175 mln for the current year
asked if the september 1985 plaza agreement was a failure because the dollar had fallen too far sumita said he still thought the pact was a good one in the sense that it had corrected the overvaluation of the dollar
this covered imports of dairy products peanuts cotton and sugar
under the option bonus program which is also scheduled to expire april 30 buyers receive cash bonuses on the purchase of pontiacs equipped with option group packages with the amount depending on the option level on each vehicle
travelers real estate trato 3rd qtr net
federated department fds raises qtly dividend
this would compare with a 1986 surplus of 95 billion dlrs
china has the potential to disrupt world markets especially in textiles
note shr applies to total net 5466 mln dlrs vs 6948 mln after extraordinaries loss
the acquisitions include a total of 5100 acres of titanium zirconium and rare earth resources the company said
zccm officials said the production of cobalt another strategic income earner will also be tailored to meet demand
little effect seen from cold storage report
we do not want to export a model garcia told a press conference at the end of an official two day visit to mexico yesterday
venezuela sets foreign debt targets
finance minister gibson chigaga said all of zambias traditional financial backers apart from britain had pledged continued backing for the countrys new go it alone economic program announced last month
on or after august 1989 the company can call half the debentures if the stock trades for 30 days at 123 pct of the conversion price and half if it reaches 140 pct of the conversion price nivison said
it depends on oil prices one said
union said macluan failed to make an offer for unions 72 pct interest in canbra before the june 22 deadline
the transaction is expected to be completed in april and is subject to regulatory approval
peru coffee crop unaffected by rains
time inc said its wholly owned subsidiary time life overseas finance corp nv has called for redemption of all 100 mln dlrs in principal amount of its 10 3 4 pct guaranteed notes due january 26 1990
the company said montagus main asset is a 10 pct interest in the hog ranch joint venture which operates the open cut heap leach hog ranch gold mine in washoe county nev
japan has no plans to cut discount rate
originally the margin was set at 625 basis points for up to 50 mln dlrs and at 25 basis points for the remainder
the suit alleges among other things that certain waste management officers and directors purchased chemlawns stock before making the tender offer
the lebanese pound fell sharply against the us dollar again today with dealers attributing the decline to continued political uncertainty
as a result van dyke calculated that the purchasing power of an average family of four will increase by a modest 540 dlrs this year compared to a surge of 1210 dlrs during 1986
a handful of issues showed signs of weakness but dealers said investors were awaiting todays release of us leading indicators for january
about 2308 mln dlrs of debt is affected
watanabe was unavailable for comment
home federal hfbfo sets shareholder meeting
maize production is expected to total between 104 and 11 mln tonnes or a drop of 175 to 194 pct over the 124 to 126 mln tonnes harvested last year according to private estimates or 189 to 219 pct lower than last years volume according to official figures
oper shr 94 cts vs 93 cts oper net 8889000 vs 8570000 revs 1550 mln vs 1234 mln avg shrs 9450000 vs 9174000 note net excludes discontinued operations a gain of 4679000 dlrs or 50 cts a share vs a loss of 720000 dlrs or seven cts a share
shr 26 cts vs 10 cts net 2867000 vs 1208000 revs 1000 mln vs 850 mln avg shrs 104 mln vs 9791671 nine mths shr 57 cts vs 34 cts net 6327000 vs 3951000 revs 2844 mln vs 2254 mln avg shrs 101 mln vs 9831097 current year net both periods includes gain 1755000 dlrs from change inestimation of useful lives used in depreciation of property and equipment
the explanation for the fairly relaxed view is that net new bank lending to latin america has dried up at the same time as banks have steadily bolstered their capital base
franklin age high income fund sets payout
american express also approved the previously announced plan to sell about 13 pct or 13 mln convertible preferred of the unit to nippon life insurance co for 538 mln dlrs
tonen is a wholly owned subsidiary of toa nenryo kogyo kk tnent which is owned 25 pct by exxon corp
deloitte haskins and sells an accounting and consulting firm said it bought a stake in holland systems corp a software and services company
bank of new york and the partners will retain about 10 pct each and these stakes will be bought over the next six years
guatemala to host other milds coffee meeting
the comprehensive trade bill will include work by other committees to ease export controls on high technology to aid us workers displaced by foreign competition to stimulate research and development to remove foreign trade barriers and to improve education and worker training
asa says ec oilseed policy illegal under gatt
the total wheat import target this year has been set at 700000 tonnes down from actual imports of 758770 last year
gnp rose 156 pct between the first quarters of 1987 and 1986 according to provisional bank of korea figures
in addition many japanese companies are committed already to large german banks
dealers said federal funds were trading at 6 1 2 pct when the fed began its temporary and indirect supply of reserves to the banking system
at a meeting of geplacea in brazil last october officials stressed the need to find alternative uses for sugar cane which according to the groups executive secretary eduardo latorre grows like a weed throughout the region
company chairman gerrit van driel told journalists at the presentation of wessanens 1986 report he already expected 1987 first quarter profits to show an increase
rainbow corp ltd said it has lifted its stake in supermarket group progressive enterprises ltd to 52 pct from 44 pct
chubb corp said it completed the previously announced acquisition of sovereign corp
aziz forecast that pakistan may have exportable surpluses of one mln tonnes or a half mln tonnes over the next few harvests in years when the weather is favourable
usair u seeks order against twa twa 
registered unemployment in february was 298 mln people or 215 pct of the workforce
the times of zambia which is run by the ruling united national independence party unip quoted official sources as saying the imf and world bank had refused to continue financing food subsidies and were pressing the government to explain how it proposes to pay for them
dana corp dcn debt lowered by s p
wall street analysts said any of the hollywood film studios which might be interested
the bond is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
nova corp is considering a takeover bid for dome petroleum ltd either alone or as part of a consortium nova chairman bob blair said
qtly div 20 cts vs 20 cts prior pay may 20 record may four
the still unresolved legal wrangle surrounding the international tin council itc which had buffer stock losses running into hundreds of millions of sterling is also casting a shadow over commodity negotiations
senior dealers at creditanstalt and girozentrale austrias two largest banks said they would have been aware of any national bank intervention
salzgitter said it decided to give up its own original plans to seek a majority stake in sachs after holding talks with the government in bonn
the us meat industry has prepared a petition requesting the reagan administration to retaliate against the ec rule
the sources said the cmbs price structure had been overtaken by ugandas high inflation rate unofficially estimated at about 200 pct and that this was a further disincentive to producers already owed large arrears
lig shares were one penny firmer at 277p
baker continued we said further that we and others are willing to cooperate closely to foster stability in exchange rates around those levels he referred to a february agreement by six leading industrial nations to cooperate on monetary matters
corn supply demand by country usda
global petroleum corp said today it raised its posted prices for numbers six fuel cargoes in the new york harbor 70 cts to 160 dlrs per barrel depending on grade
it should cut capacity to 38 mln barrels per day about 75 pct of current capacity
a sinking fund starting in 1998 to retire annually five pct of the debentures can be upped by 200 pct at the companys option giving them an estimated minimum life of 1385 years and maximum of 205 years
shr four cts vs 36 cts net 254000 vs 2063000 revs 1300 mln vs 1078 mln nine mths shr 23 cts vs 116 dlrs net 1336000 vs 6659000 revs 3709 mln vs 3137 mln
oper shr loss 49 cts vs loss 10 cts oper net loss 3014000 vs loss 656000 revs 227 mln vs 236 mln 12 mths oper shr loss 19 cts vs profit 40 cts oper net loss 1142000 vs profit 2476000 revs 933 mln vs 990 mln note qtr 1986 and prior qtr excludes loss discontinued operations 2441000 and 4078000 respectively
closing of the merger would occur immediately after the filing it said
csx csx unit sets improved shipping service
soybean shipments to western europe rose sharply because supplies from brazil a traditional major exporter were limited by drought
laidlaw declares three for two split boosts payout to 5 1 4 cts shr from four cts
the united states closed their borders at a certain stage to some foreign goods and therefore protected its industrial development
investor group cuts rospatch rpch stake
ccc investment in loans inventories up usda
pete stark a california democrat and senior house ways and means committee member said herringtons plan for a 275 pct depletion allowance which in effect is a special 275 pct tax deduction would cost seven billion dlrs a year
according to the letter chairman kenneth macke expressed to the group buying its stock the companys desire to remain independent
that was up from 2454000 the previous week
gardner noted that the terms of the merger agreement in which the company would bought out by a group of its managers and ef hutton lbo inc bar directors from taking action to solicit initiate or encourage acquisition proposals
a major tax reform including the introduction of a western style valued added tax is planned for january 1988 in an effort to cure problems in state spending
american aircraft buys into helicopter builder
general motors of canada ltd a unit of general motors corp said about 1600 hourly rated employees at the oshawa plant will be laid off for one week due to high inventories
speaking to journalists one day after the group of seven countries reaffirmed goals set in paris six weeks ago he said central banks would continue to intervene as and when necessary he said the g 7 countries were concerned that japan do more to stimulate domestic demand and welcomed measures outlined by japanese finance minister kiichi miyazawa yesterday
building society and other bank mortgage rates are largely still well above the new base rate level although last year lloyds offered a fixed rate of 99 pct on certain home loans
it is my intention to submit these proposals to the domestic policy council and the cabinet for consideration and review he said proposals including an increase in the oil depletion allowance and repeal of the windfall profits tax should be revenue neutral and promote domestic production at the least cost to the economy and the taxpayers
sales of us stores in existence more than one year increased 10 pct
merrill lynch europe ltds kevin regan defends the medium tranche tap notes concept saying it offers comparable liquidity
the imf urges a strong interest rate policy to signal the governments determination to keep its currency strong and to curb inflation
american express said it had agreed with nippon life that american express will hold a minimum of 40 pct of shearson until january 1999
the merger would give american control of 37 pct of the authorized takeoff and landing slots at the orange county terminal where environmental concerns and a small terminal building limit future opportunities for expansion
ic industries says it will consider possible sale of its aerospace business
shr 94 cts vs 75 cts net 270 mln vs 184 mln revs 6316 mln vs 4095 mln avg shrs 271 mln vs 226 mln
although political considerations the governments wish to see a fall in base rates coincide with the budget had been suggested by operators last week as reasons for the banks delaying action worries about the real strength of sterling and perhaps about the markets reaction to the content of the budget may have been behind the central banks caution dealers said
general leaseholds ltd year net
the construction industry was likely to engage new workers for the first time since 1980 but they predicted either no rise in employment in the manufactured goods industry or only a slight expansion
in 1986 gulf states earned 2449 mln dlrs on revenues of 147 billion dlrs compared to profits of 2654 mln dlrs on sales of 185 billion in the previous year
the spokesman added cnooc was ready to enter into contracts for offshore blocks before third round bidding began
brazil is the worlds largest coffee producer and exporter
the takeover is contingent on approval from the federal cartel office in west berlin a spokesman said adding that mannesmann was confident the authorities would not block the purchase
unilateral intervention itself cannot ensure currency stability but it can be useful when coordinated with other policies and with other central banks he said
teletrak advanced technology 4th qtr loss
in a statement issued by the trade representatives office following a speech to the american soybean associations board of directors yeutter said the proposed tax would have a severe impact on american soybean farmers who export some 24 billion dlrs in soybeans and products annually to the ec
besides ibm computer associates will be far and away the most powerful company in the field added ef hutton analyst terence quinn
diversified a developer of single family housing in the atlanta market had 1986 revenues of about 253 mln dlrs
it also said the offering was aimed at raising 75 mln dlrs for working capital and 17 mln to repay debt incurred in connection with its recent acquisition of us medical enterprises inc
the drastic cutbacks in us drilling last year are rapidly deflating the united states natural gas bubble which could bring spot shortages in gas supplies next winter and a modest recovery in the oilpatch industry analysts said
however he said hbos results in the quarter will be down slightly but in the first quarter of 1986 there was a special gain in the hbo unit
the committee awarded 123000 tonnes of free market barley export licences at a maximum export refund of 13875 ecus per tonne
for the second quarter ended november 30 software ag earned 2089000 dlrs down from 5014000 dlrs a year before
a seven year credit facility for salomon sa the french ski bindings and boots maker will have a facility fee of 75 basis point banking sources said
reportedly the feeling was the first figure which includes customs freight and insurance allowed a better comparison with other countries that reported their trade balances on the same basis
we cannot continue to pile up stocks while world demand shrinks he said
the issue of land loss is a matter of major concern to the peking leadership which announced earlier this month that china will issue nationwide quotas for conversion of grain land for the first time this year
cyprus minerals company said it is decreasing its electrolytic copper cathode price by one cent to 660 cents a pound effective immediately
westcoast said the acquisition would enable it to apply more than 150 mln dlrs of accumulated tax pools of agip canada ltd to enhance after tax cash flow from the acquired properties
shr profit 13 cts vs loss 33 cts net profit 1149000 vs loss 2833000 rev 518 mln vs 478 mln year shr profit 24 cts vs loss 18 cts net profit 2050000 vs loss 1551000 rev 2006 mln vs 1801 mln
del e
it said its financial adviser painewebber group inc pwj has stated in writing that subject to market conditions it is highly confident that it can arrange commitments for up to 475 mln dlrs in mezzanine financing
the developer indicated in those talks that he took the position as an investment but he revealed no other plans
standard elektrik lorenz finanz bv is issuing a 40 mln australian dlr eurobond due may 11 1990 paying 14 1 4 pct and priced at 101 1 2 pct lead manager credit suisse first boston ltd said
it has to depend on public sector investment for faster growth if the private sector is not moving gross domestic product grew one pct in 1986 after shrinking one pct in 1985
published risk provisions 7363 mln marks vs 2240 mln
2 if the average of the daily market indicator prices over six months prior to a review is below or above the lower intervention price or the upper intervention price the reference price will be automatically revised downwards or upwards by five pct unless the international natural rubber organisation council decides on a higher percentage
the dollar fall was one means of reducing the massive us current account deficit
most of the minerals extracted and refined in the central peruvian andes are shipped down the central railway to the lima port of callao
the cocoa will be priced according to a fixed set of differentials ranging from 137 stg for most expensive ghana cocoa to zero for malaysian cocoa
moi said the price changes coupled with a general decline in the flow of capital from the rest of the world made it more difficult to finance the governments budget deficit
purolator agreed this past weekend to be acquired by managers of its us courier business and ef hutton lbo inc in a leveraged buyout valued at 265 mln dlrs
araki said he had no intention of limiting prospective market participants to banks but was willing to accept those from wider business circles the sources said
in 1986 pre paid earned 25 mln dlrs on sales of 424 mln dlrs compared to net of 15 mln dlrs on sales of 198 mln dlrs in 1985
the companys implied senior debt rating is b minus
the may fall of 64000 was the largest drop since records were first kept in 1948 employment minister norman fowler said
shawmut corp shas 1st qtr net
tunisia expected to tender for french wheat
weinberger opposes fujitsu buying us firm
next year the government will turn over to private collection bureaus four billion dlrs in bad education loans and three billion dlrs in other bad government loans wright said
net loan charge offs were six mln dlrs down from 11 mln dlrs a year ago
it said courtaulds has privately agreed to purchase a majority of martins common from trusts established by julius hermes for 20 dlrs a share
before todays sale of corporate bonds those securities had comprised roughly two thirds of the pension fund portfolio
advance circuits inc advc 2nd qtr feb 28 net
drg plc issues 40 mln stg convertible bond due 2002 ind coupon 6 to 6 1 4 pct lead baring
this should cut the global oversupply to 850 tonnes from last years provisional 1100 tonnes
bankamerica corp says it places 19 billion dlrs of brazilian loans on nonaccrual status
it explained that owens illinois which has been one of the dow 30 since 1959 is the object of a leveraged buyout
a group of ecologists staged a demonstration to protest argentinas plans to build a fourth nuclear power plant and a german companys role in the project as a contractor
randall hubbard chairman of afg and joel reed chief financial officer of wagner and brown attended the meeting which was shifted from a tire plant to a downtown hotel
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
he added an accord with the international monetary fund imf could be a very helpful support
macdonald said the group will be based outside of frankfurt w
guilford mills gfd to sell convertible debt
it did not elaborate on financial terms of the issue
it predicted the bank of japan will not change the official discount rate in the year
shr 328 dlrs vs 22 cts shr diluted 299 dlrs vs 22 cts net 460 mln vs 3328000 avg shrs 140 mln vs 152 mln year shr 541 dlrs vs 156 dlrs shr diluted 494 dlrs vs 150 dlrs net 782 mln vs 259 mln avg shrs 145 mln vs 151 mln note earnings per share reflect the two for one split effective january 6 1987
healthsouth rehabilitation corp hsrc 4th qtr
foote mineral co in letter of intent to merge into rio tinto zinc
in addition to term sales petronas has been offering two to three 400000 bbl spot cargoes of malaysian crude each month for sale through tender the sources said
western national had assets of 19 billion dlrs at the end of 1986 and 1986 premium and investment revenues
first union corp said the buyout of commerce national bank by its first union national bank of florida unit was approved by commerce shareholders
interest payments during the life of the loan are however not exposed to exchange rate fluctuations
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
texas weekly crop report
fed adds reserves via customer repurchases
the company said cytrx biopool is studying the possible combination of cytrx corps rheothrx drug to reduce platelet aggregation and viscosity in blood with biopool abs drug t pa for dissolving blood clots
as of 1 april the valuation used under the formula had still to be agreed so oldham had yet to give a firm recommendation to its shareholders regarding the value of the the offer
the average effective interest rate on all loans closed by major lenders declined 27 basis points from early january to 926 pct in early february the lowest rate since march 1978 the bank board said
period ended jan 31 shr 16 cts vs 10 cts net 901000 vs 562000 nine mths shr 177 dlrs vs 19 cts net 9886000 vs 1122000 note full name is chicago dock and canal trust 1987 nine months earnings include gain from dispositions of real estate of 7666000 dlrs or 133 dlrs a share
the company said it plans to invest approximately 10 mln dlrs into the ski area in the next few years
but some brokers said others are sceptical and expect that the expiration of golden handcuff pacts which tied partners to their firms for a period after incorporation could cause a massive talent drain
board officials said the gnp rise in the january march period is due largely to increased exports which totalled 934 billion dlrs against 69 billion a year earlier
one top official said the rate cuts would help to stimulate growth generally in europe and welcomed that countries other than west germany were seen to be helping sustain the economy
duff and phelps said it is upgrading to duff 1 one minus from duff 2 its rating on baxter travenol incs commercial paper totaling about 541 mln dlrs
fairchild president seeking management buyout
panteras said pizza inns largest shareholder fj spillman previously granted panteras an option to buy more than one mln shares of pizza inn common stock owned by him
held said that in conversations with portfolio managers last week there appeared to be increasing belief that the rate rise had just begun and that yields could approach nine pct by midyear
kroger expects to take over operation of the stores one of which is under construction in late april
it was a pointed reminder to japan to do something about the trade issues the source said of the dollars fall against the yen
that gives deficiency payments to farmers if corn prices stay low
earlier the bank said it estimated the liquidity shortage in the market today at around 155 billion stg
but they have not given any sign of planned withdrawals unless the commission reviews its export policy they said
initially the bank put the likely shortage at some 175 billion and to help offset this gave early assistance of 1143 billion
reagan seeks romania trade concession
it appears that the chernobyl disaster had a worse effect on its the soviet grain harvest than reported one said
shr 229p vs 269p
it shows the 1986 and 1985 deficits at 209 billion and 1722 billion dlrs
japanese keen to enter german primary bond market
at the end of 1986 it had net assets of 88 mln dlrs
quilon chrome complexes and volan bonding agents will be supplied by the plant to du pont under contract
siebel capital management inc a california investment adviser told the securities and exchange commission sec it bought 13 mln coopervision inc common shares or 59 pct of the total outstanding
some dealers said the usda may further adjust the posted county price at the gulf to take into account high barge freight rates as a way to keep corn sales flowing but added the current plan probably will be given a few weeks to see if it will work as hoped
dealers said institutional investors were reluctant to sell dollars aggressively today partly because of the ministry monitoring
leucadia luk has 72 pct of minstar mnst 
jon rosenbaum an assistant us trade representative just back from trade talks in colombia said most producing countries now accept some sort of standardized criteria must be agreed to reintroduce coffee quotas
iran soviet union to swap crude refined products
zambia has stopped sending its copper exports through south africa the official times of zambia said
steve slifer of lehman government securities said the drop in march construction employment may also signal a drop in march housing starts which rose 26 pct in february to 1851 million units at an annual rate from 1804 million units in january
the complaint alleges among other things that the company and its board agreed to pay first boston an illegal seven mln dlr topping fee if it received a higher offer for the company prior to the buyout
shr three cts vs two cts net 109000 vs 67000 sales 113 mln vs 113 mln nine mths shr seven cts vs 99 cts net 221000 vs 3213000 sales 306 mln vs 359 mln order backlog 227 mln vs 135 mln note 1986 figures include life insurance proceeds of 25 mln dlr or 78 cts a share
melnikov said that world grain markets are different than when the first agreement was signed in 1975
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 273 days 500 pct 500 pct 30 273 days 274 294 days 590 pct 592 pct 274 294 days 295 344 days 500 pct 500 pct 295 344 days 345 360 days 593 pct 593 pct 345 360 days
initially the us wanted 65 pct of votes to proceed with a loan a position that would have given the us a virtual veto since it holds almost 35 pct of the votes
an interim cut in electric rates in delaware and maryland to reflect a lower allowed return on equity was made in the second half of 1986
new york futures exchange to relocate
many countries fear that what they have gained in months of arduous debt negotiations they can lose at a stroke with a one point rise in interest rates one official here said
initially the swiss chemicals firm will manufacture polyphenylene sulfide compounds using resins from phillips
the economic planning agency will announce gross national product gnp figures for the october december quarter today at 1700 hrs local time 0800 gmt agency officials told 
stratus computer inc strao 3rd qtr net shr 26 cts vs 18 cts net 5281000 vs 3496000 rev 488 mln vs 321 mln nine mos shr 64 cts vs 51 cts net 12852000 vs 9822000 rev 1290 mln vs 892 mln
analysts noted that february is considered a small transitory month between winter and spring
botswana exports much of its high grade beef to the european community and augments its local supplies with meat imports from zimbabwe
the facility incorporate a 70 mln stg committed element from a group of international banks
the document was prepared by a private committee formed by prime minister yasuhiro nakasone and led by former bank of japan head haruo maekawa
jucker said the losses plus those carried forward from 1985 had wiped out the companys remaining reserves and exceeded legally allowed levels forcing alusuisse to adopt a 50 pct capital cut to be approved by shareholders on april 22
chinas rapeseed crop damaged by storms
period ended may 31
there is a slightly better than even chance that the federal reserve will enter the us government securities market to add temporary reserves economists said
transnational industries trsl sees loss
pmi fund inc sets monthly dividends
earlier this year t
imperial oil raises crude oil postings 32 canadian cts bbl light sweet now 2560
there were no surprises in our package one participant said
qtr ended march 31 shr 74 cts vs 79 cts net 4069000 vs 3458000 revs 1732 mln vs 1208 mln year shr 265 dlrs vs 273 dlrs net 133 mln vs 119 mln revs 6184 mln vs 5207 mln note full name is standard commercial tobacco co
this might be a determining factor in todays result they added
ecuador suspended oil exports which made up 55 pct of the value of its total exports in 1986 for five months this year after an earthquake in march shattered the countrys pipeline
consolidated tvx says it will issue shares to buy stakes in three brazil mining firms
last week caesars board approved a recapitalization plan as an alternative to the sosnoff offer under which shareholders would receive a special dividend of 25 dlrs per share subject to approval by shareholders at a special meeting to be held in june
parisian inc pasn 4th qtr jan 31 net
and last night citibank said mexicos financing package including a 77 billion dlr loan will be signed on march 20
qtly div 13 cts vs 13 cts prior pay april 17 record april 3
golden north resource corp said said surface and underground drilling on the canty project and mascot fraction at its nickel plate mountain property in british columbia returned encouraging gold assays
the bank of england said it had provided the money market with late assistance of around 215 mln stg
he said jordan would concentrate on obtaining concessionary foreign loans and keep commercial borrowings to a minimum
dutch money market debt rises in week
a group led by far hills nj investors natalie and paul koether told the securities and exchange commission it has acquired 299523 shares of american physicians service group inc or 51 pct of the total
officials said they stopped interest payments due to a cash flow squeeze stemming from a slide in world oil prices which cut 1986 exports by about 25 pct to 218 billion dlrs
allen and co inc and merrill lynch capital markets co managed the two issues which were each increased from initial offerings of 250 mln dlrs
usda report on cattle slaughter meat purchases
us helicopters destroyed three iranian gunboats after an american helicopter came under fire earlier this month and us forces attacked seized and sank an iranian ship they said had been caught laying mines
the implementation of our plans moreover will enable us to maintain a majority interest in shearson while enhancing the strength of our balance sheet by tapping additional capital resources for shearson outside american express
met coil systems corp mets 3rd qtr feb 28 net
central illinois public cip 3rd qtr net springfield ill oct 20 shr 89 cts vs 89 cts net 30406000 vs 30504000 revs 1638 mln vs 1720 mln nine mths shr 189 dlrs vs 214 dlrs net 64489000 vs 73149000 revs 6034 mln vs 6465 mln note central illinois public service co is full name of company
union texas also said it would seek acquisitions of oil and gas properties as well as petrochemical related businesses
the communique was issued after two days of talks here between guinean natural resources minister ousmane sylla and nigerian minister of mines and power bunu sheriff musa
lancer corp lacr 4th qtr net
latest year net includes gain from sale of interest in fort worth texas shopping center of 9500000 dlrs
if prices rise by too much too quickly everyone is more than well aware of the danger the selling could set in again commented another frn market source at a large japanese house
investor group dumps silicon slcno stake
the administration should communciate to the european community the message that the united states will view the establishment of such a tax as inconsistent with the european communitys obligations under the general agreement on tariffs and trade that will result in the adoption of strong and immediate countermeasures the resolution stated
the low world prices of recent years have led many countries in the region to cut exportable production to levels where they barely cover us and in the case of some caribbean countries european community ec import quotas for which they receive prices well above free market levels
in the meantime the company said it plans today to adjourn further its meeting of stockholders to june 30
phil crane an illinois republican and staunch free trader said he will try to further weaken the gephardt plan
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
the price will be calculated daily based on the daily gold fixing in london
sumita says little room for bank to ease policy
it said mobil bought 73 mln dlrs of crude oil and oil products from china in 1986 and sold it lubricant and fertiliser but gave no more details
thai coffee exporters said they hoped the international coffee organisation ico would not reimpose export quotas even though this may lead to a further slump in world prices
the commodity credit corporation ccc has accepted bids for export bonuses to cover sales of 25000 tonnes of wheat flour to iraq the us agriculture department said
wisconsin electric power co said it began a public offering of 700000 shares of serial preferred stock 6 3 4 pct series 100 dlrs par value at a price of 100 dlrs per share
but even at the low range of estimates treasuries trading volume is at least equal to that in the uk s own government bonds known as gilts
indeed moodys announced friday that its original rating of b 1 for the holiday inns notes remained appropriate
iran said reports that it intended to threaten shipping in the gulf were baseless and warned the us and other countries not to interfere in the region
their comments echoed those of british chancellor of the exchequer nigel lawson who met funaro yesterday
matsushita electric industrial co ltd mct said it will issue a 200 billion yen unsecured convertible bond in the domestic capital market through public placement with yamaichi securities co ltd nomura securities co ltd nikko securities co ltd daiwa securities co ltd and national securities co ltd as underwriters
it said one canty hole encountered several mineralized intervals including 11 feet grading 0342 ounce gold a short ton from 86 to 97 feet and 17 feet grading 0756 ounce gold ton from 1705 feet to 1875 feet
repap enterprises corp inc 4th qtr net
sa belgo factors turnover in 1986 was 175 billion belgian francs
versatile to build polar ice breaker
c
the result is squeezed margins
at a rally in this city about 100 km northwest of sao paulo about 5000 bank workers voted to strike on march 24 unless their demand for 100 pct pay rises is met
france says us had right to strike
the company also recently listed its shares on the tokyo stock exchange
german net currency reserves rise 400 mln marks to 870 billion bundesbank
local m1 dropped 60 pct to 5447 billion dlrs after januarys rise of 123 pct
shr loss two cts vs profit nine cts net loss 74000 vs profit 418000 sales 182 mln vs 175 mln year shr profit nine cts vs profit 26 cts net profit 426000 vs profit 1170000 sales 587 mln vs 567 mln
relations between sarney and the business community have at times been strained and the existence of these tensions pointed up the importance of the meeting
philadelphia electric co said it filed with the securities and exchange commission a shelf registration statement covering up to 250 mln dlrs of first and refunding mortgage bonds
effective with may three shipments it said the price base on carbon and high strength low alloy or hsla h piles will increase by 1 1 2 cts per pound
the traders were responding to questions whether they would follow the example of cpa members meeting in yaounde
at this weeks tender on monday the bank sold a total of 77 billion francs worth of 13 and 26 week bills against an original offer of seven billion and demand for 2266 billion
stoltenberg told journalists he saw no fundamental weakness of the february 22 agreement of the group of five countries and canada to keep exchange rates near the then current levels
seven up cos a unit of philip morris cos inc is raising 15578 mln dlrs via an offering of senior subordinated notes due 1997 yielding 12 1 8 pct said lead underwriter donaldson lufkin and jenrette securities corp
standard oil says bp extends tender
kuroda also laid part of the blame for low us chip sales in japan on a lack of effort by american firms here
white house says interest rates reflect market
japan last year took 78 pct of the 170 mln dlr ec eprom market up from 60 pct in 1984
southern texas grain differentials adjusted
brodersohn held talks in new york with us treasury secretary james baker federal reserve chief paul volcker and international monetary fund imf head michel camdessus
athens says it considers the accord inactive
the company said its net crude oil and condensate production averaged 248200 barrels per day in 1986 compared to 251300 bpd in 1985
the last trade deficit was a 428 mln shortfall in 1982
there are only two companies that count in the marine leisure business brunswick corp bc being the first
this is a change in the companys previous strategy
60000 tonnes corn smuggled into philippines paper
president reagan sent the five year international natural rubber agreement to the senate for approval
but she said by june worries about a freeze in brazil growing areas will become more of a market factor with prices likely to consolidate ahead of that time
world bank chief pledges support to indonesia
all sales under the credit guarantee lines must be registered and exported by sepember 30 1987 it said
van leeuwen said that due partly to the fact europeesche made losses in 1985 and 1986 the 20 pct stake was obtained at below the shares intrinsic value
the securities are convertible into shares of cbs at a price of 200 dlrs per share which represents a premium of 262 pct over the companys closing stock price yesterday of 15850 dlrs on the new york stock exchange
the company named drexel burnham lambert inc as sole manager of the offerings
uganda was given 15 years to repay its debts with a six year grace period while mozambique was accorded an exceptionally long 20 year period with 10 years grace
the new china news agency said the average december temperature in harbin in the northeast was six degrees higher than last december and 14 degrees higher than december 1984
the spokesman confirmed that volcker who spoke to a group of financial analysts said in answer to a question about the dollars recent slide that enough is enough volcker has often expressed concern about the dollar falling too rapidly in currency markets
federal reserve money supply report feb 26 one week ended feb 16 m 1 7367 up 21 previous week revised to 7346 from 7342 avge 4 weeks vs week ago 7350 vs 7335 avge 13 weeks vs week ago 7318 vs 7298 monthly aggregates adjusted avgs in billions m 1 jan vs dec 7376 vs 7305 m 2 jan vs dec 28201 vs 27984 m 3 jan vs dec 35136 vs 34881 l dec vs nov 41415 vs 41105 domestic debtdec vs nov 76044 vs 75198
the figure compared with a surpluses of 117 billion dlrs in 1985 101 billion in 1984 and 293 mln in 1983
there is no reason to make epac a martyr of the system barreto said
as the operating companies need to return to the capital markets for debt and preferred stock this should tend to produce lower cost and better terms the company said
shr eight cts vs seven cts net 215821 vs 196873 sales 3112571 vs 2649003
uk september m3 rises 08 pct m0 up 08 pct bank of england
under athe agreement ltv said it will convert about 435 mln dlrs of outstanding secured debt of certain subsidiaries into a new revolving credit facility
the january surplus originally was reported at 533 mln dlrs
growth prospects for agriculture in 1987 do not look promising as rice production is forecast to decline and the production of sugarcane rubber and copra show little or no gain the report says
teck hocks financial adviser singapore international merchant bankers ltd simbl will work on the new proposal with the creditor banks they said
diversified industries dei 1st qtr oper net
imported tropical oils displace 171 mln bushels of us soybean sales in the us market asa estimates
but vested japanese interests opposed to change remain well entrenched dimming prospects for quick reform analysts said
bundesbank vice president helmut schlesinger said he saw no reason to lower interest rates now
un conference formally adopts new rubber pact
mthly div 71 cts vs 71 cts prior pay march 31 record march 16 note franklin puerto rico tax free income fund
genzyme genz gets testing patent
vernes said operators hope to get a rebate which equates to the full intervention price and said wednesdays tender was a step in the right direction
they will continue to stand pat for at least the next couple of months
however 1987 first quarter production from its mclaughlin reserve will be about 10 pct lower than last years 45400 ounces due to start up production problems
hot dry weather has caused some deterioration in saskatchewan crops according to the saskatchewan wheat pools weekly crop report
permian corp a subsidiary of national intergroup said it raised its crude oil postings by 50 cts a barrel effective june 17
group raises texstyrene foam stake to 117 pct
platte river authority sells taxable muni bonds
a lot of farmers have been dragging their feet because they were anticipating some changes in the program but that doesnt look very likely now he said
the company said it booked over six mln dlrs in the quarter and its backlog has risen 35 pct since the end of its fiscal year leading it to expect improved results in the second half
the issue will be immediately swapped into swiss francs putting actual interest rates at around four pct a tokyo government spokeswoman said
alexanders alx 2nd qtr feb 7
minnesota may consider anti takeover amendment
american express cos axp recent launch of a new optima credit card with relatively low interest rates and fees will increase competition with bank credit card issuers but will not lead to a pricing war a senior citicorp offical said
treasurys baker says he stands by paris pact
but the other two central banks seem to be making more token gestures than anything else said chris bourdain of bankamerica corp
telemedia said the magazines founder has agreed to continue to provide editorial and publishing direction for the magazines
about 950 mln dlrs of long term debt is outstanding
traders and analysts in international oil markets estimate opec is producing up to one mln bpd above a ceiling of 158 mln bpd agreed in geneva last december
bank of zambia general manager michael mwape has accused the international monetary fund of ignoring social conditions when drawing up its economic reform programmes for african countries
the meetings will also assess the success of the baker debt initiative which called for new funding to help debtor countries grow out of their problems
my outlook at this point is optimistic that there will be no adjustment for the full years earnings meredith forecast 1987 fully diluted per share earnings of 380 dlrs for royal bank of canada compared with 374 in 1986 430 dlrs for bank of montreal compared with 359 225 dlrs for canadian imperial bank of commerce compared with 223 215 dlrs for bank of nova scotia compared with 194 and 285 dlrs for toronto dominion bank against 274
prices quickly fell by a full point even though the dollar the markets overriding concern of late rose sharply on the news
the diplomats also said however that they did not expect the kind of social unrest that followed sharp price rises in other east bloc states notably poland
any intensification would make things worse it added
kuwait says no plans for emergency opec talks
encor 48 pct owned by dome petroleum ltd dmp said investment dealers mcleod young weir ltd and pemberton houston willoughby bell gouinlock inc agreed to purchase the issue for resale to the public
the diw economic research institute said west german economic growth in 1987 is unlikely to reach the 15 pct rate it had forecast earlier this year
scotts said capital food had 1986 sales of more than 20 mln dlrs and will continue to operate under its present name with existing management
united telecommunications inc 1st qtr shr 13 cts vs 47 cts
he said the companys womens apparel continues to grow and hartmarx has on the drawing board a briar concept store which will feature ties shirts and some tailored clothing
much of the debt has been watered down but big sums are still owed by individuals and companies
reichart noted that results of its two newly acquired boat manufacturing companies will be included in the companys first quarter report
finance secretary jaime ongpin told reporters yesterday the alternative proposal is designed to avoid an impasse when debt rescheduling talks reopen in new york on tuesday
the gilts market approved of the more modest tax cut shepherd said because if it was more than two pct they would have become concerned about the economy heating up again also a cut of two pence in the pound suggests that if the ruling conservative party is re elected another two pence cut can be offered at budget time next year
canadas industrial product price index rose 02 pct in january after falling 02 pct in each of the two previous months statistics canada said
interim income dividend 20 cts
interest rates in japan are at a historical low but china which will remain an active borrower this year is likely to go elsewhere for capital to get a better currency spread he said
a drexel officer said that while todays issue is asset backed the debt is a bond not a pass through certificate like the so called cars deals first boston corp popularized for general motors corps gm gmac unit
fluorocarbon co said it signed a definitive agreement to acquire eaton corps industrial polymer division for an undisclosed price
on credits granted by banks which are a subsidiary of another bank an earlier proposed 100 pct of capital ceiling could be exceeded in individual cases
the planning minister presented a review of the kenyan economy during the second half of 1986 which showed inflation falling to 43 pct from 102 a year earlier
arthur appleton a chicago investor told the securities and exchange commission he has acquired 39000 shares of sage drilling co inc or 51 pct of the total outstanding common stock
guangdong international trust and investment corp is preparing to issue 300 mln hk dlrs in bonds in hong kong the china daily business weekly said
spot market prices slipped some two dlrs in february but have firmed in the past two weeks to near opec levels as traders gained confidence in opec price and output discipline
congressman urges wheat eep to soviet union
the result is in line with the declining trend in the growth rate since october the institute said
the commission headed by finance minister edouard balladur forecast a fall in consumer price inflation to two pct year on year at end 1988 from 24 pct at end 1987 and 21 pct last year
potash producers from new mexico claiming unfair government subsidies are seeking a 43 pct tariff on canadas shipments
shr 34 cts vs 26 cts net 6150000 vs 4743000 revs 614 mln vs 495 mln nine months shr 89 cts vs 70 cts net 16 mln vs 118 mln revs 170 mln vs 1375 mln note all share and per share data have been adjusted to reflect 100 pct stock dividend distrition on april 24 1987 and the public offier of two mln shares ofthe company on june 4 1986
amoco an may buy dome dmp report says
it is clear that both germany and japan are having difficulty adjusting to their very large exchange rate appreciations and making their economies more domestically oriented just as it is taking time for the united states to make its own economy more export oriented lawson said
the bond is available in denominations of one mln yen and will be listed in luxembourg
and the agency is being pushed by us and foreign exchanges intent on expansion to lay the regulatory groundwork for an international securities marketplace in which trading occurs across borders throughout the world around the clock
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
british printing last week withdrew its 44 dlr per share or two billion dlr offer for harcourt because of the recapitalizaton plan
he did not disclose the offered price
this budget is designed to please both the markets and the electorate
its revenues for the year ended february 28 totaled about 20 mln canadian dlrs
shr 98 cts vs 63 cts net 2602000 vs 1571000 assets 115 billion vs 102 billion deposits 104 billion vs 9421 mln loans 8348 mln vs 7290 mln return on avg assets 092 pct vs 063 pct
otherwise interest and principal payments will continue to be made as scheduled in the existing agreements
shr profit three cts vs loss 44 cts net profit 247000 vs loss 2410000 revs 3845000 vs 3264000 avg shrs 8743000 vs 5507000 year shr profit one ct vs loss 53 cts net profit 41300 vs loss 2840000 revs 130 vs 9767000 avg shrs 7497000 vs 5384000 note 1985 4th qtr and year net includes two mln dlr loss for litigation settlement and 589000 dlrs for write off of goodwill
the three locals cover about 2600 production and maintenance workers at comincos trail smelter and kimberley bc lead zinc mine
any acquisition must have a different economic cycle to copper he said
first consignments were expected to be available around mid june
du pont which opened with a two point gain stood at 109 1 8 up 1 1 8
demand for their opec oil is clearly above 158 mln bpd and is probably closer to 17 mln bpd or higher now so what we are seeing characterized as cheating is opec meeting this demand through current production he told in a telephone interview
this gave kenya an overall balance of payments surplus of 780 mln kenya shillings 48 mln dlrs during the period compared with a 14 billion shilling 87 mln dlr deficit in the second half of 1985 it said
share after preferred dividends
however that company was later sold to a buyout group that topped the hafts
shr 63 cts vs 47 cts net 168 mln vs 124 mln sales 2486 mln vs 2333 mln
garcin said the new acquisition would substantially increase thomsons turnover in the sector
moodys confirms public service electric peg 
they also said icahn must prove his offer credible by revealing financing arrangements
we sold high cost producing assets
tug crews are preventing the movement of foreign flag container vessels in and out of the ports of sydney melbourne and fremantle shipping sources said
cable and wireless which holds a 20 pct stake in one of the two japanese firms is opposed to plans to reduce its share to three pct in the merged firm director of corporate strategy jonathan solomon told reporters
it said amtex inc sidney ohio was selected to supply trunk floor carpets and bluewater plastics inc marysville mich duct assemblies and column covers
kidder peabody and co analyst roy burry issued a strong buy recommendation on pepsico inc citing an improved profit outlook for both domestic soft drinks and frito lay snack foods
liffe t bonds gain on jobs data
dominion textile last year made an unsuccesful 104 mln us dlr bid for avondale mills and has maintained a 120 mln us dlr line of credit to be used for an american acquisition
fundamentals are awful said philip lambert analyst with stockbrokers kleinwort grieveson adding that total opec production in the first week of october could be above 185 mln bpd little changed from september levels
outboard marine om rising on takeover rumor
american locker group inc algi 4th qtr net
bentsen also south korea and taiwan should be pressured to revalue their currencies in relation to the us dollar
the companys implied senior debt rating is ccc minus
midivest inc said it acquired all the assets of business aviation inc of sioux falls sd for an undisclosed amount of stock
a spokesman for the chinese national federation of industries told the mission was part of a broader plan to switch large purchases to the us from japan
british printing filed suit in us district court in manhattan to block what maxwell called a fraudulent recapitalization announced by harcourt last week
however top ldp executives will work out figures so that abe will be able to offer specifics to us officials
shipments to the ussr in the second year of the agreeement amounted to 2887200 tonnes of wheat and 15750100 tonnes of corn
currently all periods are traded at 512 to 525 pct in the money market
denman also took exception to us efforts to seek reciprocity in specific trade sectors
ireland issues 300 mln mark eurobond
however affandi said volatile world sugar prices the need to save foreign exchange and an already up and running sugar industry were good arguments for continuing the sugar drive
period end jan 31 shr loss one cts vs profit eight cts net loss 52198 vs profit 602766 revs 186 mln vs 7833424 nine mths shr profit 10 cts vs profit six cts net profit 809243 vs profit 393372 revs 363 mln vs 187 mln
smartnames inc said it reached an agreement in principle to buy american information network
residual amount included in rice and medium short grain rice domestic usage
moodys said home shopping leads the shop at home industry and is profitable but noted that a newly emerging industry is associated with risk
citicorp said yesterday that its proposal would allow dixons to raise its tender price to 9325 dlrs per share
inflation still a concern volcker says
the main asean tin producers are malaysia indonesia and thailand which produce the bulk of the worlds tin
yesterday the international energy agency in its monthly report said that oil stocks in the oecd area or in industrialized nations were drawn down by 13 mln bpd during the first quarter of this year
he said preliminary tests showed that the well could flow oil at the rate of 1320 barrels a day with 50 degrees api at 20 degrees centigrade through a 5 8 inch choke
japan sets 1987 88 first half beef import quota
it said samsung will take care of the korean part of the engineering and electrical work the water treatment and other mechanical equipment according to krupp basic engineering
cb and t cbtb to make acquisition
the bank of korea the central bank today fixed the won at a two year high of 84690
at this weeks march 31 april 2 meeting the 16 member ico board is scheduled to discuss the current market situation the reintroduction of quotas verification of stocks and some administrative matters according to a draft agenda
european sugar beet plantings are expected to show little change from last year despite recent firmness in world prices analysts and industry sources said
robertson at mellon by contrast said the loss of confidence was triggered last week when washington announced plans to slap 300 mln dlrs of tariffs on japanese electronic imports raising the specter of a debilitating trade war
he said brazil might adopt a different approach to its creditor banks involving separate discussions with the regions
thailand has shipped 343 mln tonnes of rice in the year to date down from 368 mln a year ago
uk money market given further 284 mln stg help
arab heavy dropped 10 cts to 1663 dlrs a barrel and dubai was off 12 cts to 1809 dlrs
among the shares repurchased were two stakes owned by norfolk southern one of 34 mln shares bought in 1986 and another of 17 mln shares in 1985 one analyst said
a volkswagen ag vowgf spokesman said the group had no immediate comment on reports of greater than expected losses at its spanish subsidiary sociedad espanola de automoviles de turismo seat german newspapers reported that werner schmidt seat supervisory board chairman had told journalists that seat losses for 1986 were around 27 billion pesetas or about 386 mln marks almost double original expectations
at the same time the edelman group said it cut its stake in morse to 84 pct from 97 pct
china will not increase sugar imports substantially this year because of foreign exchange constraints and large stocks despite falling production and rising domestic demand traders and the official press said
proceeds will be used to redeem the companys outstanding 8 3 4 pct convertible subordinated debentures of 2008 burlington said
most economists said the fed would execute three day system repurchases to meet a substantial need to add reserves in the current maintenance period although some said a more aggressive add via overnight system repos was possible
it would take 20 days from the day we mail said the source
prudential corp plc prull 1986 year
initially the rights are not exerciseable rights certificates are not distributed and the rights automatically trade with northeasts shares the company said
it said seven holes averaged 0185 ounce gold a short ton and 18 ounces of silver with the seven intersections averaging 118 feet in thickness beneath 25 feet of overburden
entertainment publications epub sees loss
big bear inc bgbr 2nd qtr feb 28 net
harper hpr gets bid from harcourt hbj 
city resources would progressively earn up to 6666 pct of rgcs prospecting authority 585 which covers all the field by spending a total of 65 mln kina it said in a statement
the buffer stock aims to keep prices within a pre set range by buying when prices fall and selling when they rise
prospect group said it will review its investment objectives regarding brinkmann as warranted by market conditions the companys performance and other factors including discussions with brinkmann management
it said a 315 mln dlr 14 pct note is payable in four equal instalments over four years
shr 126 hk cents vs 42 adjusted final div 30 cents vs 10 making 40 vs 10 net 479 mln dlrs vs 157 mln turnover 104 billion vs 105 billion note profits excluded extraordinary items 52 mln dlrs vs losses 426 mln
saatchi and saatchi buys cleveland consulting
we are closing because of our huge stock of unsold sugar
it said that each sector had exciting prospects but required different methods of management and financing
the designation of ciba vision as an independent operating group underscores ciba geigys anticipation of continued growth macdonald told a group of reporters
donaldson dci to buy mine safety mnes unit
cetec corp cec quarterly dividend
bangladeshs cost of living index fell 109 pct in january to 479 after a 16 pct decline to 48428 in december 1973 74 base 100 the bureau of statistics said
the reorganization also created four new positions for chairmen of shearsons operating divisions a move analysts speculated would allow shearson to be a stand alone company
the contract designated by the symbol hf would trade from 0900 to 1315 cst
dealers in khartoums thriving black market said the dollar was sold at 55 pounds today
it said the debentures are redeemable at a price of 100 pct of the principal
price details were not available
it said the institution is 50 pct owned by arab interests and has set up a wholly owned commercial banking branch in hong kong but gave no more details
ive dealt once during the day im not going to say at what level other dealers were reluctant even to give an indication of the bonds levels
api says distillate stocks off 735 mln bbls gasoline off 289 mln crude off 439 mln
the official said there has not been a consensus reached yet when asked about reports the paris club of western creditors had agreed to long term stretch outs of african debt at concessional interest rates
changing tax laws to encourage city residents who only farm on weekends to put their land up for sale for residential development would also give a boost to domestic spending economists said
nicholas said that hbo and cinemax had combined subscriber growth of 800000 for last year
stanley interiors corp is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2012 with a seven pct coupon and par pricing said lead manager salomon brothers inc
cri insured ii cii estimates dividends
s k i ltd skii 2nd qtr jan 25 net
the number of people actually receiving benefits under regular state programs totaled 2480000 in the week ended march 14 the latest period for which that figure was available
analysts said they foresaw no major complications that would abort a combination which historians said would be the auto industrys biggest merger since american motors was formed in 1954
but it gave no figures
the best tonic for the economy now would be a pickup in net exports he said in a statement after the department reported the index fell 10 pct in january from december the sharpest drop since a 17 pct fall in july 1984
union pacific corp said it will sign a pact in caracas on march 17 with petroleos de venezuela pdvsa to sell the state owned company half of its corpus christi texas refinery owned by its union pacifics champlin petroleum co subsidiary
german banking authorities are weighing rules for banks off balance sheet activities in an attempt to cope with the growing volume of sophisticated capital market instruments banking sources said
other analysts agree that the government probably has some broad target range around this area
i think that if they were to do that theyd create the same conditions that we did in 29 they choked off the money supply and what happened we went into a major recession
their sales helped send wall street stocks down 508 points to 1738 the markets biggest percentage drop since 1914
shr 16 cts vs eight cts net 4834000 vs 2052000 revs 349 mln vs 160 mln avg shrs 311 mln vs 268 mln nine mths shr 26 cts vs 13 cts net 8006000 vs 3310000 revs 809 mln vs 345 mln avg shrs 308 mln vs 263 mln note share adjusted for two for one stock split
they stress however that any action must be taken by the ec as a whole to stop beggar my neighbour action
new lme aluminium contract welcomed by trade
schweizerische aluminium ag aluzz alusuisse plans further drastic cuts in its aluminium smelting capacity and more concentration of higher value added products chief executive hans jucker said
the company operates on a substituted tax year not the fiscal year ending june 30 and as a result has incurred tax at the 49 pct rate on 1986 earnings cra said in a statement
mitsubishi corp mitttok said it has taken a 25 pct stake worth five mln krone in danish dairy farms ltd and will jointly market its produce from april
companys full name is groupe bruxelles lambert sa lambbr proposed net final dividend on ordinary shares 70 francs vs 65 to take total net payment for year to 120 francs vs 110
natl distillers says it agrees to sell spirits unit for 545 mln dlrs to american brands
apart from the french plant these include three factories in each of italy and west germany two in britain and spain and one in the netherlands and denmark
foster wheeler corp fwc said an audit of its stearns airport equiment co inc unit revealed substantial discrepancies in stearns accounts that may require material adjustments to previously announce consolidated results of the company and its subsidiaries
the report was qualified due to uncertainties surrounding the previously announced arbitration award against american motors former subsidiary am general corp
in addition if the property is pre sold while amounts are still outstanding the basic margin will be reduced to 1 2 point over libor the banking sources said
but he declined to comment on rumours the company would take a 10 pct stake in shearson lehman brothers an investment banking unit of american express co axp he said the firm started to sound out several us investment banks on capital participation about 18 months ago and was narrowing the number of prospects but he did not say if it had set its sights on one firm
until recently commercial banks were slow to conclude new financing packages pending completion of a mexican package mulford said
it also came one day after the reagan administrations economic policy council decided to take retaliatory action against japan for its alleged failure to live up to a joint trade agreement on computer microchips
the group had said previously that its frost and sullivan share purchases were for investment
there will be a multi currency option
at a news conference he said japan and west germany could try to stimulate their economies further by expanding money supply but he added im not so sure it would be desirable if monetary policy became more expansive
singapore court adjourns brunei bank judgement
january saw a rise of 300 mln stg in amounts outstanding to finance houses other specialist credit grantors and retailers
non callable to maturity the issue pays quarterly and is rated a 1 by moodys and aa minus by s and p
in a speech to the annual meeting schutz said third party orders placed with porsches engineering research centre in weissach were rising and should top 100 mln marks this year for the first time
the fourth quarter current account showed a deficit for the first time since 1980 of 700 mln guilders it said
gold reserves were unchanged at 21845 billion francs
bilzerian prepared to tender for pay npak pnp 
total fees of 2 1 2 pct comprise 1 2 pct each for management and underwriting and 1 1 2 pct for selling
federal reserve board chairman paul volcker said that the dollars slide in currency markets has been enough a fed spokesman said
obviously currency risk is important
idea inc idea to buy private firm
enserch issues 100 mln dlr convertible bond
terms of the sale were not disclosed
godfrey co gdfyo 1st qtr may 30 net
payment was due april 16 and a quotation on the luxembourg bourse was planned
the magic group owns pilgrim life insurance co of america and middle atlantic life insurance co
traders said he raised his recommendation of temple inland to a buy to support his earnings outlook of 585 dlrs a share in 1987 and nine dlrs a share in 1988
asamera inc year oper shr loss 48 cts vs profit 50 cts
but clark said in his interview that the issues of visible trade and access to financial markets should be kept separate
however the utility cannot ignore the potential for sharper growth he said pointing out that demand was up 52 pct in 1986 and 47 pct per year in the past four years
fendt said although the february results were lower than the average expected for the rest of the year the governments target of an eight billion dlr surplus for 1987 should be achieved
negotiations on a new international natural rubber agreement inra are approaching the make or break point and prospects for a future pact appear to be in the balance delegates said
it said viadent helps prevent plaque build up and inflamed gums
infinite graphics inc expects earnings for the fourth quarter ending april 30 to exceed the 127587 dlrs or seven cts a share posted a year ago chairman clifford f
campeau says it is not part of sec proceeding
credit national issues billion franc convertible
secretary monsod and i get along famously he said
after an economic contraction in the first quarter the economy should show an uptrend in the last three
shr loss 49 cts vs loss 136 dlrs net loss 928835 vs loss 1648665 year shr loss 33 cts vs loss 421 dlrs net loss 593533 vs loss 4970951 assets 2039 mln loans 1515 mln deposits 1920 mln note 1986 loss included non recurring expenses of 1275000 dlrs comprised of asset write downs legal proceeding and a 930000 dlr provision for loan losses
the european community commission confirmed it granted export licences for 59000 tonnes of current series white sugar at a maximum export rebate of 45678 european currency units ecus per 100 kilos
for some time fundamentals have led the market to push for a one point cut in base lending rates to 10 pct but the central bank has declined to follow wholesale money market rates down
washington said the operation was aimed at destroying positions used by iran to track and assault neutral gulf shipping
producers plan to hold consultations on quotas and then may set a date for a formal producer meeting but plans are not fixed he said
reeboks stock was selling at 45 1 2 up 1 8
uk money market given 550 mln stg late help
the centre said that in general the outlook for the swiss economy in 1987 and 1988 remained favourable despite the more difficult international economic climate facing export industry
sunflowerseed 1986 87 production is still forecast at 23 to 26 mln tonnes 341 to 415 pct below the 1985 86 record of 41 mln tonnes
southern railway co a unit of norfolk southern corp nsc will hold accept bids on wednesday for 20 mln dlrs of serial equipment trust certificates
europe shipping exports to s africa off 40 pct
weve had a decline in activity as recent economic statistics have not greatly changed peoples viewpoints on interest rates mains said
in 1985 however woolworth changed its strategy and announced that it would operate specialty stores
last month the moran group broke up and splintered into various factions
taiwan shipbuilder looks for japanese ventures
in london transport secretary john moore told parliament yesterday that the ship keeled over after water gushed in through the bow doors
year on year wholesale prices fell 19 pct in february after drops of 33 pct in january and 18 pct in february 1986
the white house welcomed last months 07 pct increase in the index of leading economic indicators the governments key barometer of future economic growth
earlier today harper said a recently appointed special committee of independent directors had received expressions of interest from several domestic and foreign firms with respect to restructuring or acquisition transactions
as previously announced the transaction is valued at about 88 mln dlrs including 28 mln dlrs in debt
but diplomats said the latest announcement shows the authorities were forced to act quickly to keep this years deficit under control
inflation for the 12 month period ending march 1987 was 674 pct compared to 1208 pct for the 12 month period ending march 1986
thailands foreign reserves fall in february
merrill lynch and co mer said the head of its mergers and acquisitions department in london accused by us authorities of insider trading violations has been suspended from the firm
henley group inc said it ended talks with sante fe southern pacific corp concerning the possible acquisition of sante fes southern pacific transportation co subsidiary
if those comments do signal that the state department is no longer opposed to the us selling wheat to the ussr under eep it certainly improves the chances for an eep wheat offer to moscow an industry lobbyst said
he said that one of the governments negative actions is the maintenance of the windfall profits tax which acts as a disincentive to developing existing fields and reduces cash flow for oil exploration
earlier britoil posted a drop in pretax profit for 1986 to 134 mln stg from 759 mln in 1985 before an extraordinary charge of 50 mln stg on the companys us assets
shr 32 cts vs 18 cts net 1200466 vs 545670 revs 82 mln vs 64 mln year shr 152 dlrs vs 27 cts net 4972683 vs 1046460 revs 333 mln vs 23 mln
according to press reports american can owns 20 pct of jefferies and is its largest single shareholder
norways current account showed a 99 billion crown deficit for the first seven months of 1987 against a 197 billion crown deficit for the same year ago period the central bureau of statistics said
shr loss one ct vs profit five cts net loss 34496 vs profit 207165 rev 102691 vs 297813 nine months shr profit one ct vs profit five cts net profit 69018 vs profit 230188 rev 641823 vs 666319 note the company was delisted from the nasdaq in november 1985
this tender was part of a special tender for 500000 tonnes of spanish barley
but sentiment now looks to have turned about again
le groupe videotron ltee vdoto nine mths net
the company said its increased fourth quarter and full year operating losses primarily resulted from lower oil prices and a four month labor shutdown at its balmer coal mine in british columbia
showboat opened the hotel during its third quarter and gaming began last thursday on a regular basis after test gaming was completed earlier in the week
the hughes board said it would not sign the decree because its was too unreasonable hughes said that baker should instead complete the sale of the disputed assets before the merger is finalized and given government approval
it said the exercise price will be substantially reduced in the event of an acquisition of 25 pct or more of common stock
banking sources said the measure would drain about 200 billion pesetas from the system
it floated its currency slashed spending and privatised industry gaining praise from western creditors and obtaining debt rescheduling
dealers in the straight bonds noted that the market in them had been basis only for some time prior to the weekends news
brazil computer market to remain closed minister
oper shr loss five cts vs loss 24 cts oper net loss 165000 vs loss 802000 revs 4988000 vs 3101000 year oper shr loss 13 cts vs loss 133 dlrs oper net loss 454000 vs loss 4407000 revs 231 mln vs 8937000 note results restated for discontinued operations
soybean meal imports are forecast to fall to around 190000 tonnes in 1987 88 from 270000 tonnes in 1986 87 and 295000 tonnes in 1985 86
since july leucadia said its companies have bought 947800 minstar common shares for a total of 247 mln dlrs
the retail price index rpi britains measure of inflation rose 04 pct in february on a revised basis to give a year on year rise of 39 pct the employment department said
coupon and conversion price for the par priced bonds will be set at dai nippons next board meeting
the 30 inch main underground line can transport over 300000 barrels daily
bangladeshs sugar production increased by nearly 60000 tonnes over last years season to total 140000 tonnes at the end of this years season the sugar and food industries corp said
fermentas new management originally hoped to raise 160 mln crowns through the new one for four rights issue and an extra 170 mln from an issue to nordbanken another major creditor and shareholder gotabanken and the groups new majority owner industrivarden ab the share price was to be 20 crowns
parent turnover 1872 billion vs 2046 billion
a banker said he saw no reason why the market makers decided to shut down if they were willing to join the new issue
although some 2500 tonnes of sugar have been offered to intervention in the netherlands dutch producers and traders said this sugar was actually belgian and was being offered by the belgian industry
blumenstein a rolm vice president and head of its business communications group will take charge of the new telecommunications organization which will operate as a unit within the information systems group
it needs something but its not going to be news about the economy he said
sama offers a total 19 billion riyals in 30 91 and 180 day paper to banks in bahrain each week
ferruzzi may float up to 49 pct of paris unit
he added he does not expect the yen dollar exchange rate to remain unstable because the market is concerned about a sharp rise of the yen
shr 119 dlrs vs 146 dlrs net 3150185 vs 2665284 revs 279 mln vs 241 mln avg shrs 2653646 vs 1826858 year shr 145 dlrs vs 137 dlrs net 3611802 vs 2502443 sales 622 mln vs 528 mln avg shrs 2489978 vs 1826858
theodore brophy chairman of gte said we expect us sprints losses to diminish later this year as customer traffic migrates to the new fiber optic network for long distance telecommunications
for its part the administration has signaled its strong support for new techniques that in some cases effectively amount to interest rate concessions for major debtor nations
the continued depreciation of the dollar could also help push up the price of tin the bulletin said
exchange losses had per share impact on royal dutch of 14 cts vs 31 cts in quarter and 96 cts vs 126 dlrs in year and on shell transport of eight cts vs 17 cts in quarter and 51 cts vs 71 cts in year
cross told the sec he bought the new shares at between 775 and 80 dlrs
in january the import price index base 1980 was unchanged compared with december but 178 pct lower against january 1986
there were no extraordinary gains in 1985
he said a meeting of the opec differentials committee had been postponed because there is no need for the meeting he did not elaborate
federal reserve board chairman paul volcker said both the fed and the financial markets remain concerned about the possibility of renewed inflation
it also said the firms financial performance as measured by profitability and debt leverage underscore strong credit quality
us credits for ecuador switched to veg oil
the report covering transactions in the week june 11 the additional corn resulted from changes in destinations
murphy oil corp said its board proposed a reorganization in which it would acquire the 23 pct of common shares of its canadian subsidiary not owned by the parent
overnight interbank sterling dipped to 10 nine pct after the banks announcement compared with levels around 10 1 2 pct shortly before and 11 1 4 11 pct initially today dealers said
however countertrade deals still make up only a small part of indias total trading and are likely to account for less than eight pct of the estimated 1853 billion dlrs in trade during the nine months ended december the sources said
stora announced last september it would acquire papyrus at a price of 58 billion crowns thus forming europes second largest forest group after london based reed international plc reed l
each right will entitle the shareholder to buy one newly issued share of alberstons common stock for 15000 dlrs
crude oil output controls did not necessarily mean higher energy bills for the worlds industrial nations lukman said
rolls was rescued from bankruptcy and taken into state ownership in 1971
applied data communications said it agreed to acquire privately held dateline technology inc of redmond wash for an undisclosed amount of cash and stock
the analysts said that to get others to hold the line saudi arabia pushed hard at the meeting of deputy oil ministers of the gulf cooperation council last weekend and at the cooperation council oil ministers meeting the previous week
edward muda an aice official who attended the ico negotiations said latin american members of the group of eight were in contact with colombia the worlds second largest producer but gave no details
this compares with the banks forecast of a shortage in the system today of around 850 mln stg which it earlier revised up from 800 mln
the bank said in a statement that it forecasts a small net cash injection into the system over the settlement week
business loans on the books of major us banks excluding acceptances fell 108 billion dlrs to 27637 billion dlrs in the week ended april 8 the federal reserve board said
but tenneco would be a challenge to run because of its sheer size and diversity
pagex has been formed by paul a
the total number of unemployed in february was 213200 against 215700 in january and 216600 in february 1986
in its world production and trade report the usda said sales of french corn for nearby delivery have been confirmed with an export subsidy of about 145 dlrs per tonne bringing the french price to about 72 dlrs per tonne fob
the company said it can release no other details at this time
this was our second best year pushed by a good supply and demand balance for products low feedstocks and energy costs for our operations silas said in 1987 we think the markets supply and demand balance will be just as good but feedstock and energy costs will rise due to price recovery
sterling was briefly depressed by the rate cut but this morning opened very strongly again starting on a trade weighted basis at 726 against yesterdays final 721 and later edging up to 727 uk money market rates declined again this morning by up to 1 8 point strongly reinforcing yesterdays speculation that clearing bank base lending rates could drop into single figures after the budget next tuesday money market dealers said
the national pork board on monday allocated 24 mln dlrs in discretionary funds collected from the 100 pct national checkoff program to three industry organizations
ltd involves a works due to go on stream in 1989 producing 250000 tonnes of non corrosive quality steels annually
national data ndac in pact with signature
the bid is woolworths second attempt in recent months to acquire a retail chemist chain
but the government official said the surplus would be held at around five billion dlrs to avoid further pressure by industrialised nations to push up the value of its currency
there certainly is evidence in that direction he replied
peripheral systems inc said it agreed in principle to acquire the outstanding shares of nucell inc the agreement calls for an exchange of one share of peripheral for each share of nucell subject to approval by both companies boards it said
allied asu selling michigan units
but the problem is imports are not expanding said one official
petro canada estimates the terra nova field graven block would produce between 25000 and 26000 barrels average daily production with a production system that would have maximum capacity of 40000 bpd company spokesman foulkes said in answer to a query
wagner and brown along with afg industries inc afg recently launched a surprise tender offer for gencorp
exxon corp xon rose 1 1 8 to 88 1 2
benetton of italy sees expansion acquisitions
obrien energy systems inc is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2002 with a 7 3 4 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
the traders recently returned from west africa say producers there are unhappy about the impact on cocoa prices so far noting producing countries are part of the international cocoa pact and deserve the same treatment as consumers
several dealers had expected the bank of england to announce further issues of index linked bonds today in the light of strength seen in this sector of the market over the past few days
but the combination of the two companies will clearly present a much stronger front he said
but it added a bill adopted by the senate banking committee last week could affect chase manhattan if it becomes law and might force it eventually to cease commercial paper underwriting activities
deutsche agrees full takeover of former eurasbank
rafsanjani the parliamentary speaker said it is not a threat or an attempt at intimidation when we say we will respond to aggression it is a reality and we have proved it in practice he added that the american attack squares neither with its superpower image nor its claim of concern with security nor reason and wisdom us warships shelled an iranian offshore oil platform and american special forces boarded another destroying equipment
miyazawa also said the us sanctions against japanese semiconductor products was not discussed through the g 7 meeting and did not affect the currency talks
standard and poors said its major downgrades last quarter were of denmark usx corp x chase manhattan corp cmb and manufacturers hanover corp mhc it said the most negative influence on rating changes occurred in the financial institution sector where there were 22 downgrades versus five upgrades
willis faber plc wifll chairman and chief executive david palmer said the company would consider any bid for its 208 pct shareholding in morgan grenfell group plc mgfll but had not yet received any offers
still to be divested are the process machinery division with sales of 137 mln dlrs and mathews conveyer co with sales of 83 mln dlrs
current first quarter includes results of operations of loews theatre management corp which tri star acquired december 31
s and p cut first amarillos 15 mln dlrs of subordinated debt to ccc minus from b minus
about 45 mln dlrs of inventory from the stores is being transferred to other locations the company said
including acceptances loans fell 581 mln dlrs to 6563 billion
freedom federal savings bank said it voted its first cash dividend of 10 cts a share payable april 10 record march 31
emery air frieght corp which has launched a 40 dlr a share tender offer for 83 pct of purolator courier corp said it would sell some purolator assets to help pay the estimated 265 mln dlr cost of the stock purchase deal
taiwan sees its investment in us rising sharply
brazil suspended interest payments on its 68 billion dlrs of medium and long term debt on february 20
the numbers were a little disappointing but i think we can take mr volcker at his word when he said that nothing had changed said bob bannon of security pacific national bank
ec commission set to detail grain import plan
venezuela will shortly send creditor banks a term sheet specifying the changes agreed last month in the countrys 203 billion dlr public sector debt rescheduling finance minister manuel azpurua said
these realities they said support the henley groups statement that its santa fe stake is only an investment
it is my intention to submit these proposals to the domestic policy council and the cabinet for consideration and review the goal of the administration policies is to increase domestic production
lawson says he favours gradual approach to cuts in uk interest rates
safeway also said the transaction is subject to bormans ability to obtain financing and to successfully negotiate new labor agreements with the various unions involved
exports grew three pct in volume and imports two pct
fildes said cetus has shunned licensing arrangements with pharmaceutical companies because it wanted to build its own business
qtly div 10 cts vs 10 cts prior pay march 31 record march 16
british telecom cautious on earnings prospects
the securities which are guaranteed by parent company asea capital will be listed on the luxembourg stock exchange
the market now thinks the central bank action is to slow the dollar fall not to push it back over 150 yen said tadahiko nashimoto manager at long term credit bank of japan
trans lux is a connecticut concern that leases teleprinters and display units in brokerage offices airports and other public places
indonesian rupiah slips against mark and yen
bralorne said it expects these agreements will enable the company to operate within its cash flows and provide a stable financial environment until the energy industry recovers
american cyanamid co acy 3rd qtr net
producers ec consumers and all consumers are scheduled to hold separate meetings tomorrow to review the proposal written by icco executive director kobena erbynn they said
vernitron said that sb holding holds 552 pct in vernitron resulting from a tender offer in november 1986
the primary reason for the trade imbalance was the 70 pct rise of the dollar between 1980 and 1985 although other factors were involved roderick said
he also said altnerative energy sources should be encouraged
and if us west texas intermediate crude continues to trade above 20 dlrs a barrel there is a greater chance that opec will raise its official 18 dlrs price said nauman barakat analyst at smith barney harris upham and co
cdc life sciences lsito stake sold
the company said the group plans to offer 1250 dlrs per share for the 15 pct of its stock currently outstanding
earlier data will not be revised as there are no equivalent figures including the new components a spokesman said
rockwell rok sees improvement in 1987
mulroney told the house of commons assets of the huge oil company would be examined before a decision was made just as other state run companies were studied before being sold under ottawas privatization program
diplomatic sources here said that west germany appeared likely to finish the year with the lowest growth rate of any of the group of seven leading industrial nations
lawson welcomes reaffirmation of louvre accord
the government of prime minister anr robinson is hoping to lue new investors to the twin island states petrochemical industry in order to make use of new findings of natural gas
bank of japan governor satoshi sumita said in a statement the central bank will intervene in foreign exchange markets to stabilise exchange rates if necessary in close cooperation with other major industrial nations
in a separate press release the company said that enof and almaden held talks in istanbul a week ago with turkish mercury producers on ways to improve prices but gallego said he was not in a position to say what action the turkish companies would be taking
payments on remaining debt would be linked to cash flow generated by assets pledged against the debt
the anticipated loss reflects lower than expected operating margins start up costs for new product manufacturing and higher than planned expenses
it earlier reported 1986 losses before extraordinary items rose to 264 mln dlrs from year ago 72 mln dlrs
the intervention in shearson lehmans action against the london metal exchange over its ring out of tin contracts in 1986 is likely to have implications for other cases in which the council is involved following the collapse of its buffer stock operations in october 1985 itc delegates said
rodman renshaw rr to buy 200000 of its shares
most specialists i have talked to tell me the break even point for zccm is a rate of 10 kwacha per dollar frederick chiluba leader of the zambian congress of trade unions said
he added jacksons is arranging an offer by barwon to pay a total 38 billion pesos in cash for 38 mln san miguel shares
it will only be useful if they also make efforts to restructure industry and improve the quality of their export goods fekete said he hoped to raise credits on good terms this year to invest in restructuring industry
fhlmc also has 100000 shares of common owned by the home loan banks
he said the target which compares with around 245 billion dlrs now and 29 billion at end 1983 is considered a manageable amount which will assist in development plans
there is really no end to the ones that are available he told reporters although he added that most remaining acquisition opportunities are in the us he said that hollingers 58 pct owned daily telegraph plc of london should become profitable in this years fourth quarter
it is expected to be considered by the full senate by the end of the summer
allegheny ludlum corp als 3rd qtr net
the combination of former archrivals republicbank and interfirst giving the two banks a virtual lock on the dallas banking market has not changed texas commerces expansion plans for the states second largest city love said
egypt tenders thursday for optional origin corn
metropole recently won the concession to operate a sixth television channel in france
the current labour unrest is the worst faced by sarneys civilian government since it came to power two years ago
although the change was small this marked the first quarter since the third quarter of 1985 in which the utilization rates for manufacturing as a whole rose the federal agency said
sept daily ave primary aluminium output 34900 tonnes up 400 tonnes ipai
nuclear energy provided the bulk of japans electric power in the fiscal year ended march 31 supplying an estimated 27 pct on a kilowatt hour basis followed by oil 23 pct and liquefied natural gas 21 pct they noted
cbt traders say us conservation signup neutral
payment date is april 15
cypress savings association cypsa 4th qtr loss
the uk government tomorrow will release the first of its retail price index rpi figures calculated on a revised group of components and rebased on january 1987 as previously announced the employment department said
reichhold chemicals inc exploring possible sale of european subsidiary
last weeks issue was sold out on its first day of dealings but with nothing resembling the determined demand seen this morning for the new tranche of bonds dealers said
national data communications inc said it is no longer obligated to issue its majority shareholder signature capital corp 20 mln common shares under a previous agreement
sweden heavily dependent on imported oil suffered a major crisis in the mid 1970s when oil prices spiralled
economic analysts said the strike was of serious concern to the government which has already had to suspend interest payments on part of brazils foreign debt following a drastic deterioration in the countrys trade balance
us first time jobless claims fell in week
we have almost no grey market he said
ctc dealer holdings ltd said it extended its previously announced offer for 49 pct of canadian tire corp ltd to midnight on march 26
officials said another option now being considered by the uk is to refuse issuing new banking licences to japanese institutions
fcoj movement 3915370 gallons last week
under the terms of portugals january 1986 accession to the european community ec a grain import monopoly held by epac empresa publica de abastecimento de cereais is being reduced by 20 pct annually until all imports are liberalised in 1990
if holdings voting at the may six meeting in wilmington del approve the increase in authorized shares the split will be paid in the form of a stock dividend on june 10 to holders of record may 20 the proxy said
among other major clearing banks barclays plc bcsl and national westminister bank plc nwbll said they had no immediate plans to announce similar fixed rate schemes
state officials said the only sectors affected in the past three days were some government building projects railway freight movement and cargo handling in sydneys ports
the company temporarily extended the offer on june 17 but did not give an expiration date
talking before his departure for paris he said there could be no question of brazil adopting another imf austerity plan after a similar package four years ago put brazil in a very big recession we had an imf program it simply meant export more and import less
action taken by brokers seeking both the winding up of the itc or and placing it into receivership will also be covered by the court of appeal legal schedule
biotech capital bitc to buy magazine
harcourt brace jovanovich inc officials were not available for comment on market rumors that it is interested in acquiring reed international plc reedl officials of first boston inc harcourts financial adviser declined comment
it said seashore bankshares has assets of about 46 mln dlrs
very little physical business is now done in 9950 pct purity metal nearly all of which is produced in eastern bloc countries such as romania
i dont know what theyll tell us that we dont already knwo but well hear what they have to say lyngs aide said
the us deficit which we all decry has been in a sense the place into which everyones export led strategy for growth has gone the huge surpluses of japan and west germany have fed on this deficit so something will have to give and it will be possibly a traumatic experience he added
note companys full name is british telecommunications plc btyl third quarter turnover 240 billion stg vs 211 billion making 701 billion vs 616 billion for nine months
the new body would not aim at negotiating measures to stabilise depressed world prices
this preferred resorts said would pay a dividend based on the net cash flows from the new companys paradise island operations
the capital gains tax retirement relief limit would now be set at 125000 stg
dana currently carries a 2 senior debt and industrial revenue bonds
kraft kra completes frostex acquisition
shr 18 cts vs 31 cts net 7168000 vs 113 mln sales 4974 mln vs 4756 mln avg shrs 396 mln vs 371 mln year shr 134 dlrs vs 164 dlrs net 522 mln vs 597 mln sales 228 billion vs 207 billion avg shrs 390 mln vs 365 mln note current year net both periods includes charge 2885000 dlrs or seven cts shr from early note retirement and charge seven cts shr from reversal of tax credits
sales 161 billion vs 151 billion
producer countries brazil colombia and a member of oamcaf the african and malagasy coffee organization may also be invited for consultation he said
that could bring new rain patterns across the corn belt and assure good crop conditions as early developed corn moves into the crucial pollination stage in early july he said
us factory production of inedible tallow and grease amounted to 4215 mln lbs in february vs a revised 4715 mln lbs the previous month and 4192 mln lbs in the year ago period the census bureau said
it now appears that consumers may consider dropping their insistence of a downward adjustment of the floor price called the lower indicative price under certain circumstances
the move drove short term interest rates sharply higher with overnight and tomorrow next funds more than doubling from last wednesday and hitting 20 pct
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
the company said it plans to open a retail banking office in downtown washington this summer plus several more offices in baltimore county and others in fairfax county va
the agency added that it would continue to consider a separate twa request for federal clearance to purchase usair stock through a voting trust
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
but ministers failed to agree on new trade deals with canada and japan and are due to study these again the officials 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
preventive measures have already been taken in some areas including the evacuation of cattle
deb shops inc debs 4th qtr jan 31 net
employers organization chairman jacques schoufour accused the fnv of intransigence in refusing to alter its stance at all over the past two months
brenda mines ltd said it sold 2830390 kerr addison mines ltd shares to a group of underwriters led by wood gundy inc and brown baldwin nisker ltd for redistribution
it said it would buy back the convertible debentures at 109094 dlrs per each 1000 dlr face amount including accrued interest
chicago futures leader says markets can adapt
nilsson said the takeover will provide opportunities to cooperate with the mining and materials handling operations of bolidens parent company trelleborg ab
johnson and johnson said the us food and drug administration has notified the company its food additive petition for a high intensity sweetener has been formally accepted and now will be reviewed by the agency
bahrain is introducing a new domestic money market regime to provide dinar liquidity aid centred on the islands newly launched treasury bill programme
despite the presence of marines there were no reports of incidents
the investor group owning about 42 pct of the outstanding capital stock of the first womens bank said a cash tender offer for the banks remaining outstanding shares at 11 dlrs per share expired on march three
american international aig sells african unit
lex shares fell on the announcement to trade around 409p from a 419p close yesterday
but traders noted that the poor yielding acres being set aside will result in only a modest decrease in final production figures since farmers will concentrate on high yielding land
spain to relax exchange controls
stoltenberg said initial contacts with several european counterparts showed that they shared this view
in an attempt to generate more foreign business representative offices would be opened this year in tokyo hong kong moscow and prague
first boston affiliate to acquire allegheny intl for 2460 dlrs shr
this involves a small amount of new notes with similar maturities constantly on offer at current market rates
becor said the cash portion of the offer remains unchanged at 1045 dlrs a share but the principal amount of debentures would increase to 350 dlrs from 300 dlrs a becor share
lindner says he discussed control of taft tfb 
santos alvite added ecuador is finalizing details for a program under which venezuela would temporarily lend the country 50000 bpd for export
importing and exporting countries agreed several changes to make the reference price more responsive to market trends and they eliminated provisions under which the buffer stock could borrow from banks to finance operations
the non callable bonds will be issued in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
cannon international said viva films international agreed to exclusively distribute cannon films in the philippines for the new four years
brown group inc bg votes regular dividend
the wilkinson sword group was transferred to the swedish match co today except for companies in certain countries where approval from government authorities is required the company said
qtly div 76 cts vs 76 cts prior qtr pay 15 may record 30 april
qtly div 25 cts vs 25 cts prior pay may 4 record april 20
the first will be shipped to taiwan between march 20 and april 20 and the other two will be made later this year he said
british petroleum stock rose 2 1 4 to 59 5 8
delegates said it could be friday before all the member countries declare their positions on the possible extension
snet sng sees good 1987 earnings
ceasars wold inc said its board is studying the unsolicited and conditional tender offer for all its common shares at 28 dlrs per share from martin t
international thomson organisation ltd said it will report financial results in us funds rather than sterling beginning from jan 1 1987
the imports had caused producers heavy financial losses it said
it wasnt a true market someone asked you a price and you just gave them an idea one said
the industry is becoming very selective in investments very conservative and cautious which is not unexpected canadian petroleum associations maciej said
charles rose an oppenheimer and co analyst who follows gaf said if gaf were to sell into the merrill lynch offer it would realize about 125 mln dlrs net profit or about 350 per share
wtd industries inc wtdi 3rd qtr jan 31 net
but bakers statement that he had made progress in negotiating reforms came after a weekend meeting of the banks policy making board of governors at which the reform issue was put off until next june because of deep differences between washington and latin borrowing countries
on the grounds of increasing production he said i would rule out a gasoline tax herrington also repeated he would rule out an oil import fee because of the widespread dislocation it would cause the loss of about 400000 jobs nationwide due to higher oil prices and a drop in the gross national product by about 32 billion dlrs
huge oil platforms dot gulf like beacons
earlier today the company proposed to the federal communications commission to scrap the formula cut the amount of time needed to approve rate proposals and leave it up to its competitors to oppose it filings
qtly div 20 cts vs 20 cts prior pay may 11 record april three
peltz said uniroyal chemical co acquired last year would increase averys operating earnings but that associated acquisition costs would prevent avery from posting net profits for some time
massachusetts investors growth stock fund payout
if the soviet needs are greater than we have been thinking then they might need more than what argentina can provide during the april to june period he said
he told the official times of zambia newspaper in an interview the government was diverting all mineral exports along rail routes to dar es salaam in tanzania and beira in mozambique
us trade representative clayton yeutter suggested the us could file a formal complaint with the general agreement on tariffs and trade gatt challenging canadas decision to impose duties on us corn imports
finance ministry officials were unavailable for comment
travelers tic unit sells mortgage certificates
the strength of the real estate market was another major income source for the bank group
the commitments made at these meetings need to be translated into action
note two for seven non renounceable rights issue of 80 pct five year subordinated convertible redeemable unsecured notes at 250 dlrs each
hawaiian electric said it plans to operate the comapny which has 226 employees with current management
a steady 1350 dlrs was paid from the us gulf to morocco and 2325 dlrs was paid for 27000 long tons from the gulf to taiwan
occidental oxy unit sells division
most analysts agreed lawson had bolstered the credibility of the budget by adopting realistic forecasts
hackl said that interest margins in the banking business had declined to 271 pct last year from 278 pct the previous year
thai exports rose 194 pct in 1986 and are expected to expand another 15 pct this year bankers said
the sale of the units is part of the banks worldwide restructuring plan
im not quite ready to jump on the bullish bandwagon yet
memory protection devices inc said it expects to close the previously announced acquisition of the assets and liabilities of bogen a division of lear siegler inc on april one
dome spokesman annesley earlier declined to specify at what price the company would consider selling its dome mines shares but said current prices of more than 15 dlrs a share are very attractive
he has forecast a drop to about 125 yen
skapin told reporters in brussels yesterday the requested loan accounted for only 10 pct of total funds needed for these projects tanjug said
shr 64 cts vs 55 cts net 140 mln vs 118 mln nine mths shr 183 dlrs vs 153 dlrs net 397 mln vs 327 mln assets 465 billion vs 453 billion loans 324 billion vs 292 billion deposits 332 billion vs 315 billion
ec representatives met in closed session in brussels on friday in an attempt to reach a common ground and a diplomatic source said narrowed the range of positions among the 12 nations
dealers said the earlier intervention was in concert with the bundesbank and bank of japan
trading will be computerised and scripless
the imposition of the code scheduled for last january has been delayed by objections from some business groups
it will supply the remaining 100000 tonnes at a rate of 9342 dlrs by april 16
bps offering document for its 70 dlr per share offer describes discussions with douglas danforth who chairs a special committee of independent directors responsible for monitoring relations with bp
in a newspaper advertisement sosnoff said the bid by his mts acquisition corp withdrawal rights and the proration period will now expire june 19 unless extended
an inconclusive meeting here march 22 between central bank governor francisco gros and brazils bank advisory committee can only have stiffened that resolve
cut were the firms senior debt to bb from bbb and the parents commercial paper to b from a 2
january business inventories rose 09 pct the largest gain since july 1979 when inventories rose 17 pct the commerce department said
the company said berisford would contribute its dutch and west german cocoa subsidiaries and issue new ordinary shares to grace in connection with the transaction
work on the project could begin as early as january 1988 a shell spokesman said
the bank may want to see another few points on the trade weighted index before the budget argued lewis
qtly div 15 cts vs 15 cts prior pay may 11 record march 31
the ministry also has power in the financial sector due to the more than 100000 billion yen worth of deposits in the postal savings system analysts said
squibb has not approached us with any indication that they want to acquire us and we wouldnt be interested in that kind of arrangement said fildes
the administration has said it could not support a trade bill containing such a provision
earlier allis chalmers said it executed a letter of intent to sell its solids processing equipment and minerals systems businesses to boliden ab of sweden for about 90 mln dlrs
the bank of japan bought a modest amount of dollars this morning possibly around 200 to 300 mln dealers said
interco inc said its shareholders and those of lane co approved a merger of the two companies at special meetings
there will be a 1 3 8 point fee for selling and 5 8 for management and underwriting combined
pigmeat and beef futures which have been thinly traded on the london meat futures exchange lmfe despite lower physical prices and the introduction of new contracts need more effective marketing lmfe chairman pat elmer said in his annual report
gulf bond stock markets lag behind gib says
we have been somewhat disappointed in the results so far but we intend to continue these discussions he said
a further appreciation of the mark could even be an obstacle to further growth he said
norcros rejects 5422 mln stg bid from williams
shr 17 cts vs four cts qtly div eight cts vs eight cts net 739000 vs 157000 revs 211 mln vs 145 mln note 1986 1st qtr adjusted for five pct stock dividend pain in march 1987
commonwealth bought the plant in january 1985 and closed it feb 15 1987 leaving about 400 workers jobless
the company said its board approved a plan to discontinue the operations of three subsidiaries which are primarily involved in direct mail marketing
talk of an import surcharge or controls is not encouraging because those things wont solve our problems and could well compound them said swearingen
but a us court of appeals last july vacated the award ruling that the chinese government was entitled to sovereign immunity and dismissed the lawsuit
on february 26 mepc made an agreed bid for oldham based on a formula reflecting its asset value at 30 september 1986
dutch imports of argentine soymeal in january were 34663 tonnes down from 41365 tonnes in december but above the 13375 tonnes in the year ago month
the goodwood securities are now held by the commercial affairs investigation department the banking sources said
trade in mark denominated bonds was expected to be subdued today due to pre lenten carnival festivities in west germany
we very much have the example of the us thrifts in mind said a spokesman for abbey national building society explaining why his institution for the time being is only offering variable rate mortgages
i think theres a major earnings surprise in the winds he said
alcan raises aluminum prices two cents a lb
garcia said the other gold bearing deposits are located at tamborapa pachapidiana and a zone between the cenepa and santiago rivers
newhall investment properties nip 3rd qtr
contractors is headquartered in garden city ny and has branch offices in philadelphia boston and cheshire conn
dow chemical cos thermoplastic resin department said it is amending a recent price increase for magnum abs a resins announced march 3 for an effective date of april 1
puritan bennedtt corp said it has acquired a majority interest in medicom inc which makes a heart monitor for use in diagnosing heart disorders for undisclosed terms
lau said two representatives of evergo will be nominated to the hk hotels board
domtar inc dtc 3rd qtr net
im trying to write legislation that will be signed by the president in writing the bill the subcommittee rejected calls for trade relief for specific industries such as textiles
oper shr profit 20 cts vs loss 22 cts oper net profit 2111000 vs loss 1605000 revs 896 mln vs 272 mln nine mths oper shr profit 47 cts vs loss 15 cts oper net profit 4116000 vs loss 1029000 revs 2521 mln vs 879 mln note 1986 net excludes losses from discontinued operations of 791000 dlrs in quarter and 1168000 dlrs in nine mths
there is a feeling that there is more receptivity to the idea within the cabinet council now than there ever has been this official who asked not to be identified said referring to an eep wheat offer to the soviets
a key us senate committee commerce secretary malcolm baldrige and trade representative clayton yeutter have also expressed opposition to the merger he said
the bank holding company said 215 holding co a corporation controlled by the family of the late robert short will buy first bank luverne
oil sources said they were not crucially important to irans oil export trade
soviet exports also increased in 1986
the notes will be offered through an underwriting syndicate managed by prudential bache capital funding at an offering price of 100 pct
for one thing it is unlikely that there will be any new investment in those manufacturing industries that shrank when the dollar was at uncompetitive levels he said
the exercise price of the subscription warrants will be 99 pct
uk issues 250 mln stg in index linked bonds
there will be a facility fee of three basis points while this is not utilised after which the fee rises to six basis points
the ldp international economic affairs council was responding to nakasones request for measures to reduce japans increasing trade surpluses with the us and europe they said
transcanadas announcement came as a surprise since dome was waiting for responses from creditors on its proposed refinancing packages gobert said
ball bll to supply penny blanks to mints
the us plan calls for loans from multilateral banks like the iadb to be tied to economic reforms in debtor nations which would promote open markets reduced government intervention and inflation free economic growth
there will be a tender panel for the acceptances and advances
us home sales fell 68 pct in january
the press reports said fumio watanabe head of the federation of economic organisations would propose that britains cable and wireless plc be given a five pct stake in a telecommunications firm and a seat on the board
leader development corp said it has purchased 300000 shares of convertible preferred stock in petrosurance inc for 1500000 dlrs in cash and real estate
a direct result of the union decision would be the immediate shipment of 9000 tons of rice and wheat from an australian port the government said
seton said the acquisition bid is subject to kaltenbacher arranging the necessary financing
canadas clark sees trade as most urgent problem
without one they will suffer if the present market stays like it is muda said
world shipowners hope japanese yards can manage to ride out the recession as their technology is the best in the world said an official at a major japanese shipping company
barnes group said it expects sales and net income for 1987 will be up slightly over 1986
two or three years ago a showdown between the worlds largest debtor and its largest creditors would have sent shock waves through the financial markets
they expect it to supply the reserves indirectly by arranging 15 to two billion dlrs of customer repurchase agreements
the recent australian proposals were a good starting point for discussions but we do not want the australians to feel they are alone in developing an agenda for discussions on world grain trade the president of the national association of wheat growers nawg and the chairman of us wheat associates said in a letter to us agriculture secretary richard lyng and us trade representative clayton yeutter
saudi arabia is in the market for 4000 tonnes of refined bleached deodorised palm olein for june 1 10 shipment traders said
kuwaiti tankers have come under repeated iranian attack
the new auction system is designed to be more restrictive than the previous one suspended in january after the central bank fell 10 weeks in arrears to successful bidders
mills in the area have been reporting that their crops are beginning to look healthy and greener and are putting on growth since the rains began the spokesman said from brisbane
the docks can handle ships of up to 150000 tonnes and oil tankers of up to 200000 tonnes can load and unload in the harbour
science management corp smg 4th qtr oper net
referring to brazils recent interest payments moratorium conable also said the global debt situation was very serious and must be closely watched
first state has assets of about 110 mln dlrs
but in remarks prepared for the signing ceremony he warned against complacency
yesterday on the grey market it was quoted at around 102 1 2 103 1 2 pct
we like to refrain from accusing them of not making enough effort industrialists such as eishiro saito chairman of the keidanren business group and sony corp chairman akio morita repeatedly accuse foreign firms of not making enough effort to understand japans markets and some foreigners agree
last month warburg pincus launched a tender offer to buy up to 25 mln symbion common shares
according to official estimates prices rose by more than 33 pct in the first two months of this year
they have no place to send the grain he said
on the supply side the argument in favor of a contingent variable import tariff is most persuasive krapels president of energy security analysis inc said in a statement at a house energy and power subcommittee hearing
the transaction is expected to close this week
moreover the maturity of the bonds mostly 20 years was not attractive to other investors who might have been expected to deal more actively in the market
with completion of the merger shefra changed its name to flyfaire international inc
textile commercial and fishing canneries with sales over 124 mln intis would have to buy bonds equal to 20 pct of profits
he did not elaborate
a senior finance ministry official said government and private firms were free to compete to raise resources adding it was not correct that public sector issued bonds were preventing private firms from raising money on the stock market
yesterday hellmuth klauhs head of the genossenschaftliche zentralbank ag said rates could fall at least a quarter of a point or even half a point if german rates dropped further
dealers said the intervention was for fairly small amounts in contrast to the bundesbanks activity on wednesday when dealers reported it bought about 100 mln dlrs
eastman kodak co files 900 mln dlr debt shelf registration
jutland telephone co has launched a 75 mln 10 year bond with a 4 3 4 pct coupon and par issue price market sources said
net excludes tax loss carryforward 1423000 dlrs vs reversal of tax credit 625000 dlrs in quarter and credits 5437000 dlrs vs 7261000 dlrs in year
shr 153 dlrs vs 18 cts net 841893 vs 95477 revs 503 mln vs 351 mln
the oslo government said it will review the effects of the ban on norwegian industry after two years and may propose amendments if industry can show it is hurt by the law
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the issue has a coupon of 9 1 8 pct matures on april 7 1994 and is priced at 101 pct
indonesian sugar output seen short of target
the tender will consist of three lots of up to 70000 tonnes each for shipment may 1 30 may 10 june 10 and may 25 june 25 they said
capitalisation is projected at 60 mln dlrs with foreign aid including soft loans from international institutions
uk money market deficit revised to 550 mln stg
the agency said some areas of guangxi hubei shanxi and other provinces have been suffering a drought for more than seven months
bamberger has sold a total of 600000 shares and received net proceeds of about 48 mln dlrs since the february 1987 offering
southwest forest industries said it and stone container corp have complied with all federal waiting period requirements for stones proposed 3225 dlr per share cash acquisition of southwest
mayfair super markets inc myfra 2nd qtr net
chi chis inc said it has taken a 20 mln dlr pretax charge against earnings for the third quarter ended january 31 to cover the cost of disposing of 21 underperforming company owned restaurants
sao paulo state presidente prudente o6 mm votuporanga 120 mm franca 280 mm catanduva 100 mm sao carlos nil sao simao nil
the provision for loan losses was 218 mln versus 195 mln in the first quarter of 1986
taft said friday it would negotiate with its vice chairman dudley taft on his groups 150 dlr per share or 138 billion dlr offer for the company
prudential insurance co of america said it has obtained a 35 mln dlr line of credit from a group of minority owned banks led by freedom national bank of new york
b and w had sales of about eight mln dlrs in its most recent year
hadson corp hadso completes acquisition
in addition to papua new guinea merlin has petroleum exploration and production interests in the us bond added
the aspen institute for humanistic studies a private group also called for new research for oil exploration and development techniques
westinghouse electric corp wx 1st qtr net
the national plan set before prices began to rise put plantings this year at 460000 hectares against 425000 in 1986 nowicki said
texaco tx to cease posting texas oil price
shr 17 cts vs 13 cts net 21 mln vs 103 mln revs 156 mln vs 12 mln nine mths shr 58 cts vs 37 cts net 69 mln vs 37 mln revs 562 mln vs 275 mln avg shrs 119 mln vs 100 mln
rumors circulated among the trade this morning that the ussr may have purchased between one and two mln tonnes of us corn but there was no confirmation
i think the merger is not going through said phil pace analyst at kidder peabody and co
the purchase will not affect the close working relationship between telefonica and intelsa ericsson said
allisons place alls sales increase in february
dutch money market debt barely changed in week
pan am corp pn 4th qtr loss
the rating agency cut mellons senior debt to a plus from aa and preferred stock to a from aa minus
i think its a good measure a senior foreign banker said
late yesterday continental materials board said it decided not to give further consideration to a business combination proposed by the group of st
in connection with the agreement flinstone was granted a security interest in its inventory receivables and equipment and in certain property in irwin county ga
micro mask inc nmso 2nd qtr mar 31 oper loss
the agency also said it believes that future profits in the consumer electronics business will be limited because of intense competition from international market participants
as a result of renegotiating contracts for high cost gas columbia gas said it has been able to reduce the average price paid for gas purchased from southwest producers to 196 dlrs per mln btu in december 1986 from 364 dlrs per mln in april 1985
international platinum corp said it signed a letter of intent to enter into further negotiations on a joint venture exploration agreement with degussa ag of west germany regarding several north american platinum properties
the ministry had written to norways oil companies and would now discuss with them how best to implement the cuts
the result brought year on year inflation to 2036 pct compared with 2265 pct at end march 1986 and 1977 pct for the year ending february 1987
the bank of japan was reported in the market overnight to bolster the credibility of the paris accord following several days of pressure against the dollar
analysts see newmont earning 285 dlrs to three dlrs in 1987 and about 375 dlrs in 1988 versus earnings of about 140 dlrs from operations in 1986
the company added that its application for its proposed acquisition of platinova resources ltd and financings are still before the listing committee of the stock exchange
a five dlr per barrel oil import fee will provide the stimulus to create jobs and investment and raise revenues he said
yield on 91 day sama deposits rises
mobil corp files for offer of one billion dlrs of debt securities
enactment of this bill will reduce the price gap between sweeteners and help to correct or stabilize the many adverse impacts and trends which the sugar industry is currently facing myers said
this is a move by the metal broker to have a receiver appointed over the itcs assets
cyclops said the moves followed the announcement earlier today by dixons that it received only 20 pct of cyclops outstanding common stock under an extended tender offer that expired yesterday
commerce bank said because of market uncertainties it used an estimate of 6000 mln dlrs for fiscal 1987 loan losses in calculating first quarter results
it called on washington to modify its legislation
he said there appeared to have been some attempts to manipulate the market but if all opec members stick by the cartels december pricing agreement it would get through present price difficulties
six nations the uk canada france japan the us and west germany pledged in paris last month to stabilise currencies around current levels
the committee cancelled a tender for another cargo because the prices offered by us suppliers were too high he added
under the new system no bidder except the the state oil company zimoil and the national airline zambia airways is allowed to bid for more than five pct of the foreign exchange on offer
american express co remained silent on market rumors it would spinoff all or part of its shearson lehman brothers inc but some analysts said the company may be considering such a move because it is unhappy with the market value of its stock
the fed said the application was similar to that of bankers trust to engage in commercial paper placement that was approved last december
process chemicals acquired from diamond shamrock corp dia in september makes specialty chemicals for a variety of industrial markets and has annual sales of about 160 mln dlrs
shr 38 cts vs 29 cts net 213 mln vs 158 mln revs 1026 mln vs 668 mln
the company said it received 44 mln dlrs and cancellation of the remaining balance due on the acquisition of the interest adding this represents 25 mln dlrs more than it paid for the interest
port officials said at least six large vessels in the black sea and 13 in the sea of marmara were waiting for conditions to improve
in the north china plain dry weather covered winter wheat in the vegetative stage and rain is needed to meet increasing crop moisture requirements it said
ohio edison said the proceeds will be used to finance the rest of its 1987 construction program and repay bank loans incurred for the retirement of high interest long term debt
calprop corp cpp 4th qtr net
kaul said producers need to procure hard currency to service foreign debt will put further pressure on them to sell and this should keep substantial pressure on exporters to undertake sales despite the drop in prices to six year lows kaul believes the market will drop to 80 cents a lb before brazils frost season begins in june
japanese firms and officials in turn argue the flow of cheap chips to third countries is due to grey market sales by third party brokers who seek to profit from the gap between low prices in japan and higher prices based on production costs and set for japanese makers under the agreement
group profit after net interest items 742 mln crowns vs 741 mln
african feb trade surplus 162 billion rand vs jan surplus 9062 mln official
a union spokesman in rio de janeiro said the seamen had accepted a 120 pct pay offer from the companies globo and flumar which have less than 200 employees each
high short term interest rates a bullish stock market and an increasingly stable currency reflect a massive inflow of fresh funds in the last two months largely from japanese and us investors analysts polled by said
helmerich and payne inc hp increases div
in future banks will be able to offset this tax credit only against tax on the profit on the relevant loan he said
bankers said the repayment amounts essentially confirmed their private estimates and could be comfortably met by the monetary authorities
we have to speed up liberalisation and cut import tariffs faster and more substantially he said
the west german government is expected to come under pressure in venice from both the us and its european partners to stimulate domestic demand as a way of reducing international trade imbalances and contributing to world economic growth
in 1986 pneumo abex had operating income of 1181 mln dlrs on sales of 9005 mln dlrs
it said it will transfer the capital stock of rigolleau sa to the group controlled by camillo gancia an argentine industrialist
he said the lower profit was mainly due to losses made by steel tube maker vallourec in which nord est has a 125 pct stake
the loan assumption was again ratified by last weeks board meeting
the committee will draft a budget which its chairman sen lawton chiles a florida democrat said he hopes would raise at least 18 billion dlrs in revenues or about half the minimum 36 billion dlr deficit reduction he has in mind
toledo and chicago elevators were finishing loading the first corn boats of the new shipping season supporting spot basis values at those terminal points
there were 603106 shares outstanding as of december 31
ryoka light metal industries ltd will stop smelting in april owing to high power costs and low prices and mitsui aluminium co ltd has said it stopped smelting in february
conagra inc said it completed the merger of its sea alaska products co unit and trident seafoods corp
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
he said australias interests in the uruguay round the eighth under the gatt are wide ranging
painewebbers geodyne energy income fund for example has said it plans to spend up to 300 mln dlrs on oil and gas properties
iranians manning the platform were warned in advance and allowed to escape
greece and turkey have long standing disputes over areas of the aegean and the presence of turkish troops in cyprus
british exports to nigeria were 565 mln stg in 1986 down from 960 mln in 1985 while nigerias exports to britain which do not include oil were 328 mln stg and 647 mln respectively
usa network is an advertiser supported entertainment basic cable network reaching 39 mln homes on 8500 cable systems
he told proposals to reduce brazils quota to 25 pct of the world share from 30 pct at present were unacceptable as the country has large stocks and a good harvest is expected
regency cruises inc said it agreed to sell a 40 pct interest in the corporation that owns the m v regent sea cruise ship for 21 mln dlrs to monmouth international sa which owns the other 60 pct
coupon and conversion price for both par priced bonds will be set at a board meeting to be held later this month and payment is due on may 14 mitsubishi said in a statement
shr 22 cts vs 22 cts prior qtr pay june one record may 12
commerzbank to found new york investment bank
but us officials held out little hope that any accord could be reached before the tariffs of 100 per cent up from about five per cent are to take effect on april 17
sumita also said the economy will show a gradual upturn in the second half of the year if the yen remains stable
they said it would be possible the company might consider a leveraged buyout or restructuring to fend off the offer
he said with this appraoch america would suffer the death of one thousand cuts but for the united states to grab the initiative militarily it must take warlike steps such as mining irans harbors or blockading the mouth of the gulf through which its shipping must pass schuler said
but the company said it was likely to suspend its 75 cents per share quarterly common stock dividend and halt repayments on debts of some 68 billion dlrs
the bank of england said it has provided around 205 mln stg late assistance to the market bringing the total help today to 722 mln which compares with the banks revised deficit forecast of 800 mln stg
qatar an opec member has an output ceiling of 285000 barrels per day
citibank na said it has cut its british base lending rate to 105 pct from 11 pct with effect from tomorrow
last year turnover rose by 208 pct to 871 mln dlrs from 726 mln dlrs in 1985
the operation will put outstanding bill supply at about 4300 billion yen they said
alfa corp alfao 3rd qtr net
qtr ended march 31 net 268760 vs 235274 revs 721882 vs 575806 six mths net 472642 vs 464042 revs 1372453 vs 1059462 note per share data not given as not comparable to net figures which are before depreciation
the bundesbanks reduction of the key allocation rate to 380 from 385 pct was heralded monday by repeated injections of money market liquidity at between 370 and 380 pct
morocco tenders thursday for pl 480 wheat
dumez has 478125 united westburne uwito shares
these issues directly affect the debt problem and the ability of the debtor countries to grow out of their difficulties
sheldahl inc shel 3rd qtr may 30 net
what they are really doing is asking you to capitalize now to borrow money now to cushion you against risk you might have 10 years from now he added adds title first paragraph dealers also said they believe that banks not covered by the agreement such as those based in japan will have a competitive advantage because they will not have to pass the costs on to customers
world bank loans india 929 mln dlrs
gabelli said its most recent purchases of decision capital fund stock included 95800 shares bought april 3 6 on the philadelphia stock exchange
some said that the britannia had come too late with the canadian maple leaf the american eagle and other gold coins already well established
it said the deal is subject to approval by regulators and its partners in the properties which consist of exploration wells
the company said the offer is being made under a definitive agreement reached with the new company idc acquisition corp formed by apollo partners ltd and investment clients of equitable capital management inc the agreement calls for the acquisition of idc for about 624 mln dlrs
the fed said the february gain was dominated by a sharp rise in motor vehicle production which boosted output of both consumer goods and business equipment
the bank has established a five billion dlr swap limit with the us federal reserve and another 25 billion mark and 200 billion yen limit with the west german and swiss central banks according to the sources
traders said there was speculation a bidder might appear and also that real estate developer donald trump who holds a stake in ual might participate in a takeover bid
unicorp american corp said it has signed a definitive agreement for the previously announced acquisition of lincoln savings bank
he said national investment continued to be small because of a poor rate of savings about 14 pct of gdp
norway egypt and the soviet union agreed to help opec by restraining production or exports after he visited them on opecs behalf earlier this year
cash flows to the government are expected to more than offset cash injections it added
wilson foods corp wilf 2nd qtr jan 31 net
also analysts noted the budget does not go overboard with measures that are seen as generous to the wealthy
microbilt corp bilt 4th qtr jan 31 net
the report said the abolition of the five pct cpo export tax the devaluation of the rupiah in september 1986 and higher international palm oil prices should lead to a modest increase in exports this year
us energy secretary sees higher oil prices
us house panel approves 400 mln dlrs foreign aid
these factors and south africas unstable political situation which may lead to a temporary reduction in gold supplies from that country underscore the firmer sentiment it said
nogales told in an interview the steering committee of bolivias creditor banks had agreed to consider the offer at a meeting in new york last month
that recommendation echoes calls made recently at secret meetings of the international monetary funds executive board
fieldcrest cannon inc fld sets quarterly
corrects name to subsidiary from parent
each bond will carry two warrants each giving the right to subscribe between january 1 1988 and march 31 1992 to one financiere robur share at a price of 210 francs
bread wheat 235800 205700 115500 maize 158400 189000 272700 sorghum 26500 18700 39900 soybean nil nil nil sunflowerseed 1800 18800 nil cumulative figures for april 1 and this calendar year with the previous years figures in brackets are as follows in thousands of tonnes bread wheat 643 445 30744 28514 maize 483 1077 4861 9224 sorghum 51 222 1081 1888 soybean nil nil nil nil sunflowerseed 09 nil 432 nil
swiss bank corp said this is the first time malaysia has tapped the swiss capital market since it issued a bond here in july 1985
denman told rostenkowski an illinois democrat he backed aspects of the bill such as one backing new talks under the gatt and one excluding protection for the textile industry
buitoni did not disclose financial details about the acquisition
moodys said it would study the degree of financial risk the acquisition offer represents for gaf
the oecd said that the dollar fall had led to rising inflation expectations and higher interest rates in the us combining with world trade imbalances and the huge third world debt problem to increase the risks of a world economic downturn
our forces are continuing their advance until they purge the last foothold occupied by the iranians it said
a foreign agricultural expert said the rise will take the price to 17 fen per jin 05 kg from 16 fen
the company named dean witter reynolds inc as sole underwriter of the offering
the kenaf plant is a member of the hibiscus family and was artificially developed several years ago
the institutes agreed that consumer prices would start to rise in 1987 after they declined in 1986 and all five predicted an average increase over the year of 05 pct
winterhalter inc said its shareholders approved the 525000 dlr acquisition of winterhalter by interface systems inc intf the acquisition would be for 15 cts per winterhalter share
foreign ministers were taking a first look at the tax ahead of farm ministers in a move described by diplomats as unprecedented and welcomed by andriessen as a sign ministers recognised the importance of reforming the ecs farm policy
chinese pork output seen lower usda
the 10 year loan has a 4 1 2 year grace period
french subsidized corn for tunisia morocco usda
assets totaled 4659 billion dlrs at the end of april compared with 4882 billion dlrs at the end of march the treasury said
cain sloan has four stores in nashville
worldwide competition and overcapacity will continue to take its toll on industrial companies moodys added
the rise in non farm payrolls was the smallest since a decline last june of 75000 the department said
bankers cited this as a typical example of how balance sheets could hide problems despite a drive by the central bank to standardise accounting
as a british government investigation got under way into the sinking of the car ferry herald of free enterprise with heavy loss of life experts said doubts had already been expressed about the roll on roll off type of ship
spain to sell barley to saudi arabia
budapest bank issues bonds to expand resources
credit volume eased to 91 billion from 92 billion while loans to companies rose seven pct
london traders said bids for licences have been reported between 4300 and 4400 ecus per 100 kilos and if any licences are granted they are likely to be towards the lower end of that range possibly 4330 4350 ecus
statements from both us and soviet officials have indicate that a long term grains agreement might not be as attractive for both sides as it once was
the year end results include an 80 mln dlrs provision for future legal and or settlement costs to cover the civil and criminal settlements announced today
the inra renegotiation conference which resumed today under the auspices of the united nations conference on trade and development unctad is scheduled to last until march 20
australia set to grow but unemployment may rise
the borrower has the option of redeeming the bonds from 1994 at 100 3 4 then declining by 1 4 point annually until maturity
qtly div 30 cts vs 30 cts prior pay april 20 record march 31
the three nations joined by france britain and canada agree these policies are essential to redress huge global trade imbalances
louis hub
within six weeks alot of countries could be out of business said one source
the world bank would probably like to see further dismantling of tarrif barriers and measures to reduce indonesias protected monopolies in areas like steel plastics and cement western bankers and diplomats said
he said however that the fdic still has control over who will eventually own the firm because it still holds the equivalent of 148 mln common shares out of a total 215 mln
trail smelter revenue was 356 mln canadian dlrs in 1986
the bank expects dutch capital market rates currently averaging around 61 pct to stop easing in the second half of this year and stabilize around 56 pct
however other producers said they were not aware of this move toward producer solidarity
this bill will be the cornerstone of congressional efforts to restore competitiveness of american industries and turn around last years record 169 billion dlrs trade deficit
rha said i hope the leaders can get together to find a solution by making some mutually satisfactory concessions but he added the leaders seem hesitant to make concessions because of domestic political reasons speaking of his own country he said we have made a lot of concessions already he cited regulations permitting foreign investment in industrial firms allowing increased foreign banking activity and cracking down on piracy of intellectual property by strengthening protection of copyrights and patents
canadian banks were hard hit today
a decline in the average quality of borrowers on the swiss franc market and a debate on the use of registered shares to prevent takeovers have made both major issues among bankers
increased residential construction led to strong increases in the building materials sector led by a 33 pct increase in non metallic mineral industries
period ended december 31
shr 111 dlrs vs 110 dlrs shr diluted 103 dlrs vs 102 dlrs net 8186000 vs 8114000
florida commercial banks inc flbk qtly div
continental said the 586 mln dlrs of existing outstanding preferred shares will be paid off at par plus accrued dividends
the bank of england said it provided the money market with assistance worth 90 mln stg in response to an early round of bill offers from discount houses
but japanese investors prefer entering into joint ventures with experienced us companies to explore for new oil
it is difficult to tell in what form the 0 92 provision will emerge from the committee the sources said
the bank said there would be no auction this week because of the easter holiday
arvins 1986 revenues were 9956 mln net reached 412 mln and earnings per share 246 dlrs
gulf states utilities gsu gets qualified audit
in contrast to the 10 year ntt and iceland issues a five year six pct bond for hoogovens traded at 9840 75 from its 99 1 2 price thanks mainly to its shorter maturity dealers said
a total 60500 tonnes of current series white sugar received export rebates of a maximum 43147 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
economic spotlight saudi corporate debt
qtly div 10 cts vs 10 cts in prior qtr payable march 31 record march 23
he said geologic condtions in the area were favorable for the discovery of oil fields equal to those in nearby prudhoe bay
vista chemical co said it expects earnings for the year ending september 30 to be up substantially but extensive planned downtime at two of its plants is expected to affect third quarter results
uk chancellor forecast in budget speech gdp growth of 30 pct in 1987
panteras pant to buy ten pizza restaurants
the company said it recored net income of 4572000 dlrs or 30 cts per share for its first quarter fiscal 1986 on revenues of 350 mln
and rochester minn
mitek systems inc said it expects to report a loss in the current quarter ending march 31 due primarily to the government buying cycle
the us agriculture department detailed world supply demand data for major importers and exporters of cotton by country as follows in mln 480 lb bales china cotton 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 1600 1830 1940 1980 production 1630 1630 1900 1900 imports x x x x domes use 2100 1750 1950 1750 exports 230 250 290 290 end stocks 905 1455 1600 1830 x less than 5000 bales pakistan cotton in mln 480 bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 107 107 105 105 production 610 610 567 567 imports x x x x domestic use 250 250 234 234 exports 300 300 315 315 end stocks 151 151 107 107 x less than 5000 bales
world lending pattern changing manila bank chief
todays price was set at 4776 francs per 100 kilos and tuesdays at 4790
labour trouble threatens the beet crop in spain
debt servicing took up 40 pct of the budget and 45 pct of export earnings aquino said
gillette co gs exercised an option to take a 512 pct stake in the french pen firm waterman which it had previously been authorised to do by the french government the french stockbrokers association csac said
it was guranteed by general motors acceptance corp and was quoted on the 1 3 4 pct fees at less 1 3 4 pct bid
japan has stopped dumping chips in the us but it has failed to open its domestic markets to us made chips and has failed to end predatory pricing in third world countries undercutting us products he said
zayre zy plans more store openings in 1987
finance minister funaro told reporters last week new measures to correct the economy would be announced within a month although he gave no further details
goodrich gr to phase out some businesses
island telephone co ltd said the previously announced two for one common share split was approved by shareholders at the annual meeting
if the rumors are true it gives them a nice infusion of capital for an attractive price said lawrence eckenfelder analyst at prudential bache securities
we have no intention of increasing the offer a company spokeswoman said
sales of the division which had been purchased by holt rinehart from cbs peaked at about 10 mln dlrs in 1985 mindscape said
shr 165 dlrs vs 150 dlrs net 5370000 vs 4901000 rev 84 mln vs 78 mln note 1986 net gain from property investments 717000 dlrs or 22 cts per share vs 721000 dlrs or 22 cts per share
shr 325 hk dlrs vs 140 final div 52 cents vs 38 making 75 cents vs 57 net 128 billion dlrs vs 5517 mln note earnings excluded extraordinary gains of 9836 mln dlrs vs 813 mln
toshiba has supplied equipment to uk manufacturers for sale under their brand names since last year
they agreed to make it easier for a company to get temporary relief from import competition but agreed the industry should provide a plan to become competitive
he said they had drawn up a list of about 80 industrial products they would be shopping for in the us during the buying mission in september but he could give no figure on how much would be spent
technitrol inc tnl sets quarterly
it was a definite hint at lower german interest rates said one banker who attended the symposium
the new firm should supply all the us major car makers including ford motor co f general motor corp gm and chrysler corp c he said
if you look at the whole merger mania and look at the scale some of these dealers its going to be very hard to resist taking them public said another analyst
under the terms of the sale airco said controls will continue to make the gas apparaturs product line under the airco brand name marketing the products exclusively through the aircos distributor network
asked about possible quota changes a usda official said as far as i know changing the quota volume or the quota year is not under active consideration
as part of its restructuring plan gelco had announced that it would sell four business units
earlier today the house agriculture committee postponed until next tuesday a meeting to consider the disaster aid bill and 0 92
dealers said the ministry has already asked institutional investors to reduce their sales of the dollar
he helped baker devise the september 1985 plaza agreement when the united states japan west germany france and britain curbed the dollars strength
the bank of england said it had invited those discount houses wishing to use borrowing facilities to do so at 1430 gmt today at a rate of 10 pct for 14 days
ps group inc psg qtly dividend
morgan guaranty ltd is the arranger
a hong kong trader estimated stocks at more than three mln at end january
syndication deadline has been extended to march 20 from today to allow banks more time to consider the facility
dranetz technologies inc dran year dec 31 net
us should reassess mideast policy analyst
if opec achieves its stated goal of an 18 dlrs a barrel average price he said venezuelas should move up to 1650 dlrs
the system has 16 billion dlrs of bonds maturing on that date
western canadas resource based economy is being hurt by international market forces and there is little ottawa can do about it finance minister michael wilson said
us immigration rules spark congress objections
hoffman said pillsburys internal statistics put soviet union wheat purchases at only two mln tonnes under a subsidy offer
shr profit 25 cts vs loss 15 cts net profit 998000 vs loss 612000 revs 8086000 vs 365000
at noon the bank had estimated the shortfall at 500 mln stg
berisford plc
small scale spot business was reported by west german operators at 1260 and 1263 marks per kilo although the market was still being undercut by chinese material which traded at one stage down to 1254 marks per kilo traders said
non callable for seven years this issue was doubled from an initial offering of 150 mln dlrs merrill said
loral corp climbed 3 3 4 to 48 3 4 amid rumors the company might be a takeover target of general electric co ge however analysts said they were skeptical
us housing starts rose 44 pct in september
texas american bancshares inc said it agreed to sell its texas american bank levelland unit to first american bancorp inc for about 12 mln dlrs in cash
combined reserves for graven block and the fields east flank block are estimated between 70 mln and 130 mln barrels he added
dean foods df sees strong 4th qtr earnings
the number of new bankruptcies appears to be declining but saudi banks hit hard by non performing loans to the corporate sector have become highly selective in extending new credit
m
the standard rate of taxation is being reduced by two pence to 27 pct from 29 pct
respondents reporting an increase in orders fell to 22 pct in march from 30 pct in december while those with orders accepted but not yet delivered fell to 14 pct from 21 pct
we were not accustomed to receive so much work said hegewisch who is responsible for foreign investment in mexico
first union real estate investments said its board left the quarterly dividend unchanged at 37 1 2 cts per share payable april 30 record march 31
toromont industries ltd year net
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
the quake on thursday which registered six on the 12 point mercalli scale killed at least six people and was centred near the reventador volcano about 90 km 50 miles east of quito
previously the company had said first quarter results would likely be lower than for the 1986 period due to production disruptions caused by the large number of production line changes scheduled during the first quarter its statement pointed out
shr loss 69 cts vs loss 145 dlrs net loss 2015000 vs loss 4268000 revs 166 mln vs 169 mln year shr loss 121 dlrs vs loss 59 cts net loss 3514000 vs loss 1839000 revs 588 mln vs 614 mln
great american issues 15 billion yen eurobond
in addition the company said it reduced prices by up to 29 pct for pre configured hp vectra systems used in specific applications
seeq technology inc seeq 2nd qtr march 31
mueller said it would be both difficult and dangerous for monetary policy to pursue a specific mark dollar exchange rate
hoechst plans offering to finance merger debt
now is really the time for the government to start implementing its ideas
to meet that request they had to slash production by 20 pct over the final six weeks of the first quarter
an investor group led by new york investor george soros said it acquired a 61 pct stake in bf goodrich co common stock as an investment
ncnb ncb to merge with centrabank 
nissan motor co ltd nsant is issuing a 35 billion yen eurobond due march 25 1992 paying 5 1 8 pct and priced at 103 3 8 nikko securities co europe ltd said
the company said it has also entered into a 155 mln dlr bank credit agreement that will allow it to complete the prepayment of all its obligations to members of its present bank syndicate
the intent is to avoid risk arising from unrecoverable debt owed by third world countries he said
visual technology inc said a group led by hambrecht and quist group has acquired majority ownership of visual for 9250000 dlrs in equity financing
most analysts said japanese exporters would be hard hit if the united states did implement the tariffs which would be levied on consumer electronics products rather than on microchips themselves
hata added it is not constructive to speed up negotiations in some areas at the expense of others
the bank earlier reported first quarter profit fell to 1141 mln dlrs from 1404 mln dlrs a year ago
hrs said that under the deals first stage closng march 22 it would sell qintex 900000 hal roach shares at seven us dlrs a share each for a total of 63 mln dlrs and roach will repay hrs 33 mln us dlrs of advances
the buffer stock manager may announce today he will be making purchases tomorrow although under the rules of the agreement such action is not automatic traders said
ford f developing aluminum car frame
bzw is currently forecasting a higher sale price at between 15 billion and 17 billion
we cannot allow it to be jeopardized by unfair trading practices reagan added in the statement from his california vacation home at santa barbara
a requirement that baker disclose his intervention policy could reduce the usefulness of intervention as a tool to deal with exchange rate volatility volcker added
the talks will include an examination of trade protectionist pressures in the wake of a decision by the reagan administration to place some 300 mln dlrs in tariffs on microchip products from japan the sources said
there now looks to be no danger that the chancellor of the exchequer nigel lawsons forecast of a 1987 current account deficit of 25 billion stg will be exceeded wroblewski said
the index was down 71 pct from a year earlier
the lawsuits would be filed with competent international bodies once the exact damage was calculated he was quoted telling a news conference in tehran
ivory coast maize output has risen steadily during the last two decades and the country aims to produce two mln tonnes annually very rapidly the official daily fraternite matin reported
the darman announcement came on the eve of the semi annual meetings of the international monetary fund and the world bank where many policies darman helped shape will be debated
japans leading economic organisations urged the government to prepare drastic pump priming measures even at the cost of shelving prime minister yasuhiro nakasones planned tax reforms officials involved said
panin holdings reported a loss of 199 mln hong kong dlrs in 1986 after a net profit of 268000 dlrs in 1985
tech data corp said its board declared a three for two stock split payable april 30 to holders of record april 1
under terms of the proposed transaction each pizza inn share can be exchanged for either three dlrs in cash plus the lesser of 14 shares of panteras common stock or 1150 dlrs market value of panteras stock or four dlrs in cash plus a unit consisting of one share of panteras stock and a non transferrable right to receive up to 055 share of panteras stock under certain conditions it said
year 1986 div 181p making 285p vs 2374p profit after tax 174 mln stg vs 141 mln tax 07 mln stg vs 02 mln bonus distribution rose to new record level of 1251 mln stg vs 1149 mln in 1985 full name of company is sun life assurance society plc sulll
standard and poors corp said it expects the asset backed securities market to grow dramatically over the next few years spurred by what it termed the compelling benefits of secured financing
the only statistics available are from some terminal markets which represent only a small percentage of the total cattle marketed
mcdermott mdr says stake violates law
amer signs 50 mln dollar multicurrency loan
metromedia unveils new wats service
he declined to comment further before the major review of the interim debt agreement regarding the moratorium on principal repayments on 13 billion dlrs of south africas 24 billion dlr external debt
consul restaurant cnsl in exchange offer
bankers trust international is co lead manager
a us state department spokesman said last week iran had acquired chinese made silkworm missiles which posed a greater threat to shipping in the gulf than the weapons previously used
at issue is the current soybean loan and the fact that at the present level of 477 dlrs without gramm rudman reductions it encourages foreign soybean production by making soybeans more profitable to grow than corn
however the status of twas bid for usair group is currently uncertain
cullinet software inc cul 4th qtr earnings
bellsouth advanced systems a unit of bellsouth corp said it has introduced a private telephone system called bellsouth system 30 offering smaller companies a wide range of advanced telecommunications services
malaysian rubber output recovers from wintering
greece says it has right on aegean oil drilling
the fed is on hold now because the data have been so confusing he said
novo industri a s nvoco year 1986
us corn was reported to be selling on the world market earlier this week for around 71 dlrs per tonne argentine corn for 67 dlrs a very competitive price spread us and soviet sources said
us agriculture secretary richard lyng said a marketing loan for soybeans would serve no present purpose because the us price is not above the world price
mcguinness is a producer and marketer of spirits and also has exclusive agencies for some imported wines and spirits
french finance minister edouard balladur issued a firm call for the continued faithful application of the louvre accords on currency stability by all major industrial countries
amstutz said the difference of opinion between moscow and washington last summer on the level of the us subsidy offered on wheat to the soviet union was over whether the us wheat price was competitive or cheap
on march three it said it agreed in principle to sell its american centennial insurance co beneficial international insurance co consolidated marine and general insurance co ltd consolidated life assurance co ltd wesco insurance co and service general insurance co subsidiaries to a management led group for 98 mln dlrs in notes mostly contingent on performance of the units and 10 mln dlrs in cash
the japan fund inc said it has received an unsolicited offer from sterling grace capital management lp acting together with certain other persons and entities to purchase all the assets of the fund at five pct below its aggregate net asset value
if the plan is accepted taft would be a private company financed by high yield bonds and bank debt nelson said
by fujitsu ltd which was withdrawn
balladur urges g 7 to respect pledges on monetary policy in louvre accord
there have been no major oil discoveries for the past 15 to 20 years alaskas prudhoe bay oil reserves the last major world discovery has already produced about five billion barrels of oil or more than half of its estimated reserves he said
the agriculture department will have to release an estimated 16 billion dlrs worth of in kind certificates or certs to corn farmers this fall if usda decides to maintain an equal split of total 1986 feedgrain deficiency payments in cash and certs usda officials said
shr loss 30 cts vs loss 20 cts net loss 1553000 vs loss 1031000 revs 100 mln vs 8696000
traders said at least one other international trader made a similar contract while a french house sold two cargoes at an outright price of 233 dlrs cif without the option
the issue carries a put option after three years at 103 pct
we have a very large population which is used to price stability and will object to price rises he said
kanan told reporters the loans concluded during the past six months were made by the european investment bank the islamic development bank and three arab funds
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 123 days 500 pct 500 pct 30 123 days 124 150 days 590 pct 593 pct 124 150 days 151 349 days 500 pct 500 pct 151 349 days 350 360 days 596 pct 598 pct 350 360 days
there is normally no third quarter production in cuba but a hurricane meant that last years crop was extended
he noted that new zealand bought its bananas from ecuador
the rise in west germany short term interest rates was not in the spirit of an agreement by these nations in washington which reaffirmed the louvre pact he said
giant bay resources ltd said it signed an agreement in principle with hecla mining co for an operating joint venture on heclas stibnite idaho gold deposit
american bankers said last week that slow progress in debt talks with brazil increased the likelihood that us banks would soon declare their brazilian loans non performing
but the dollars medium term direction is soft one dealer said
nobel financiere robur issue french franc bonds
chrysler corp said it has no intention of increasing its offer for electrospace systems inc ele chrysler agreed to purchase the texas based defense electronics contractor in a tender offer of 27 dlrs a share for a total value of about 367 mln dlrs
with a record trade deficit of 169 billion dlrs last year and a farm economy in the doldrums congress is pressing to hold back us funds for the world bank and other development banks if the money is used to subsidize production or to produce goods already in oversupply around the world
issue volume is likely to be 1200 to 1400 billion yen against 475 billion in march they said
payment date is april 30
staley sta sells interest in spanish venture
morgan led a group that won the bonds in competitive bidding
the spokesman declined to say from whom it may buy the other shares to create a majority stake in the firm
peoples savings bank pebwo 3rd qtr net
in november jacobs had offered to enter into acquisition talks with borg warner based on a price of between 43 and 48 dlrs a share
first financial offers data processing services to over 800 financial institutions through 35 data processing centers
thai venture will sell rubber to china
orion broadcast obgio buys ford f unit
no casualties were seen and the tanker pivot laden with crude oil was towed towards dubai by tugs after they put out the fire the sources said
his interest rate and economic forecasts were among the lowest
the decrease results from changes in the base rates and in the fuel cost adjustment rate charged by the company
gencorp inc said it withdrew from consideration at its annual meeting on march 31 proposals aimed at providing for a stock split and an increased dividend so that it could focus its energies on responding to the takeover offer made last week by a partnership of afg industries inc afg and wagner and brown
almi group acquires interest in clearview baking
we have been intervening to a very much greater extent than we have done hitherto chancellor of the exchequer nigel lawson said at a news conference today commenting on the news of the record reserves rise
the payment date is may 15
it made the request by telephone
durham said production costs at the new mexico located chino mine will be in line with conventional copper production at the companys other mines by the fourth quarter
osr said as part of the acquisition agreement is is required to sell its 80 pct interest in standard knickerbocker ltd which makes jeans in canada
moodys investors service inc said it may downgrade conseco incs 100 mln dlrs of debt
horowitz and mike warren it said
while wyss left his first quarter forecast of real us gross national product growth at 35 pct he said the march jobs data suggested a downward revision in his second quarter growth forecast to 25 pct from 28 pct
boliden says it now leader in mining gear
it will also retain a royalty interest in the properties
dutch consumer prices are set to fall by 05 pct in 1987 and stay stable in 1988 partly as a result of declining domestic gas prices
consumer spending declined 06 pct and government spending by 02 bob edgar of the australia and new zealand banking group ltd said the governments aim of reducing the current account deficit by boosting exports and lowering consumption to cut imports appeared to be working
shr five cts vs 29 cts net 92641 vs 466668 sales 4448011 vs 4122301 year shr 34 cts vs 116 dlrs net 553310 vs 1864417 sales 163 mln vs 167 mln
china may have to import he said
moodys investors service inc said it may downgrade the ratings of ecolab incs 25 mln dlrs of debt and upgrade chemlawn corps 15 mln dlrs of debt
yeutter made the comment in response to a question whether the us should expand the eep to cover grain sales to the soviet union
the value of chinas industrial output in january and february this year was 141 pct higher than in the same 1986 period the new china news agency said
i think its a credible offer said timothy pettee a bear stearns analyst
domestic investors did not believe interest rates would decline and stay at low levels for such a long time because expectations were determined by sharp interest rate fluctuations at the start of the decade
lac minerals lac to close lake shore mine
a 3 1 2 year labor contract at the plant expired december 13
south atlantic financial corp said it has agreed in principle to merge with independence holding co into a new company to be called safco international ltd
on a comparable store basis the sales rose 12 pct
imports of cocoa powder fell to 316 tonnes from 469 and exports to 5944 from 6106 tonnes
goldman sachs and co and merrill lynch capital markets underwrote the deal
the company said the lower rate results from a reduction in the average price the pipeline is paying for gas adding this reflects contract reformation agreemats with producers
more generic grain certificates should be released onto the market in order for the us certificate program to have its full effect on commodities according to a study by sparks commodities inc
moodys will also take into account intensifying competition and pricing difficulties in danas highly cyclical core truck and industrial markets
comtech inc said it agreed in principle to sell 95 pct of its outstanding shares in premier microwave corp for seven mln dlrs
us officials said japan had done nothing since the march announcement to alter reagans plan to invoke the sanctions
simmons airlines inc simm 2nd qtr loss
norwegian state oil company den norske stats oljeselskap statoil signed contracts worth a total of 15 billion norwegian crowns in connection with the development of the veslefrikk oil field statoil said
building materials group boral ltd boals said it will raise 100 mln aus dlrs by placing 20 mln 75 pct convertible notes with institutions at 500 dlrs each
the gold mining industry had another exceptional year in 1986 with tonnage milled revenues and profits reaching high levels the chamber of mines said
the facility was proposed by rep
he said he did not know the maturity of the note
ford motor co of canada ltd 4th qtr shr 817 dlrs vs 55 cts
first federal brooksville ffbv sets quarterly
security pacific corp said it completed its previously announced acquisition of orbanco financial services corp after receiving federal approval of the deal
he described the dollars sharp fall against the yen at the start of the week as a passing incident and added everyone is resolved to support the paris accord questioned about his plan to help the worlds poorest countries chirac said he did not envisage any large scale debt write offs
china moves to stabilise world tungsten prices
attorneys for pennzoil said they believed the company would prevail in court appeals adding that texacos assets were ample ultimately to pay the pennzoil judgment in full
philip fricke of goldman sachs and co falls in the middle of the bulls and bears
protective life corp said it has signed a letter of intent to assume liberty life insurance cos group insurance on july 1 subject to regulatory approvals
qtly div class a 275 cts vs 264 cts prior qtly div class b 25 cts vs 24 cts prior pay june one record may one
washington is pressing taiwan to open its markets wider as a way of cutting its trade deficit with the island which rose to 235 billion us dlrs in the first two months of 1987 from 187 billion in the year earlier period
santa anita realty sar quarterly dividend
the us economy provided them with a giant market for their goods giving them a way to earn income badly needed to service their foreign debt
1985 4th qtr and yr oper net excludes realized investment gains of 449920 dlrs or 15 cts per share and 897949 dlrs or 30 cts per share respectively
in its second quarter ended dec
cbt metals financials delivery locations
the stock can go to the mid 30s roling said from its current level of around 30
tca cable tv inc tcat sets quarterly
mthly div 66 cts vs 69 cts prior pay april 30 record april 15 note franklin michigan insured tax free income fund
first commercial fcobo to acquire citizens bank
in a filing with the securities and exchange commission harris said it sold a net 108666 triad common shares between dec 16 and feb 23 at prices ranging from 1000 to 1425 dlrs a share
us refined production declined to 117600 tons in january from 137400 tons in december
the floating rate class amounts to 60 mln dlrs
the world bank said it has extended three loans to india totalling 929 mln dlrs for two projects in the power sector and one for water supply and sewage
pesch in an interview with said based on the conversations he held with shareholders he could not guage whether he had majority support
belgian current account surplus widens in 1986
us agriculture undersecretary daniel amstutz said he was totally sympathetic with us wood producers desire to have their exports eligible for government credit guarantees
asian exporters fear damage from us japan rift
for its part taiwan said in january that it will cut tariffs on 1700 goods sometime in the second half of 1987 and try to diversify exports
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
shr profit eight cts vs loss 10 cts net profit 622000 vs loss 564000 revs 7508000 vs 1913000 year shr profit 15 cts vs loss 28 cts net profit 933000 vs loss 1548000 revs 198 mln vs 4799000
burlington lawyers also contended that burlington as the largest manufacturer of denim in the united states would be in violation of anti trust laws if it acquired dominion canadas largest textile maker
four sugar cargoes sold to china yesterday trade
its survey covered 13 oils soy cotton groundnut sun rape sesame corn olive coconut palmkernel palm lin and castor and four animal oils and fats butter fish oil lard and tallow greases
terms were not disclosed
marcove and an unaffiliated purchaser it did not name
the amount of a convertible eurobond launched on friday for metal box plc mbxll has been increased to 65 mln stg from the original 60 mln and the coupon has been fixed at 5 3 4 pct swiss bank corp international ltd said as lead manager
magma copper co a subsidiary of newmont mining corp said it is lowering its copper cathode price by 050 cent to 6550 cents a lb effective immediately
southwest bancorp swb 3rd qtr loss
manufacturing productivity in april was 61 pct higher than a year ago after a downward revised 68 pct increase in march
creditor banks may buy into singapore coffee firm
pearson reported 1986 pre tax profit of 1211 mln stg up from 1093 mln in 1985
american telephone and telegraph co said it has a new version of docuforum a software product used to review revise and transfer documents electronically
the fob premium rose to 1350 dlrs per tonne up 250 dlrs from the premium for the november to april shipment but down from 1380 for the last may to september shipment
they declined to disclose details of the negotiations but said it would be unrealistic to expect an outcome until next week at the earliest
the federal government reported today that the monthly surplus soared to 125 billion canadian dlrs in february double januarys 623 mln dlrs surplus and sharply higher than february 1986s 189 mln dlr tally
the american stock exchange halted trading of versars stock this morning
after july 16 1990 each warrant will entitle the holder to acquire one bullet at a price of 100 pct of the nominal value plus accrued interest from the preceding coupon date
agriculture secretary ernesto figueras said only 500000 hectares of the area now flooded had been planted and that 200000 to 300000 hectares could be lost
nearly 60 pct of the crop has been harvested in parana and slightly less in sao paulo it said
australias terms of trade also fell by 18 pct over the past two years he told parliament
company officials were unavailable for comment as to why the american stock exchange had stopped trading in clarostats stock for a pending news announcement
last week the management group submitted what it called its last offer for the company valued at 31 mln dlrs and consisting of 3850 dlrs a share cash preferred stock valued at eight dlrs a share and equity in the new company
the company said it is also selling 543237 shares to healthcare international inc hii giving the company a 98 pct stake in healthvest
the make up of the holding company however is subject to close discussions within the government due to legal queries over the nationality of the mutual funds a finance ministry official said
this gave japan a 16 billion dlr trade surplus
but that will be reduced early next year after a placement of 11 pct of the issued shares of hong kong telecommunications by both cable and wireless and the government
by contrast however the federal government was able to reduce its credit drawdown at the central bank by 900 mln marks to 900 mln
bank of england drains money market liquidity
dainippon incs optical disc technology focuses on the development of a new direct read after write optical disc and an advanced erasable optical disc
dayton hudson suggested amendments be passed and instituted by next friday the spokesperson said
gulf canada corp said it acquired a 25 pct working interest in the gulf of suez oil concession for undisclosed terms
sec clarifies position on tender offer changes
that distaste stems in part from fears of recession
at current prices nobody is going to consider increasing production other producers are wary of committing funds to increasing output given the instability of world markets
other more technical issues still outstanding include whether the buffer stock should buy at a single announced posted price as in the previous pact or by announcing it is buying then accepting offers
the bond is available in denominations of one mln yen and will be listed in luxembourg
diamond shamrock corp said it will accept about 27 pct of the 73653000 shares of its common stock tendered in response to the companys offer to pay 17 dlrs a share for 20 mln shares
the indian state trading corp bought one or possibly two 6000 tonne cargoes of malaysian refined bleached deodorised palm olein at its vegetable oil import tender today for mar 15 apr 15 shipment at 355 dlrs per tonne cif traders said
santos to acquire total exploration australia
speaking at the annual meeting of the national grain and feed association glickman said he learned this week from the house budget committee that the agriculture committee will have to reduce the fiscal year 1988 farm budget by up to two billion dlrs from the 30 billion dlrs level already approved
a spokesman said the company had previously expected this to be completed by the end of 1987 and has not estimated how far into 1988 the process will extend
kansas exchange hits cftc position limit plan
continental said the notes will carry a dividend rate of 72 pct of prime and it expects that the shares will trade at 1275 dlrs or more enabling shareholders who wish to receive cash to do so
hoechst ag of west germany said it has completed the acquisition of celanese corp
residential mortgage investments inc rmi payout
it said it expects more than 12000 us employees to take advantage of the retirement incentives announced last year
president reagans nominee as top policeman for the nations securities markets will inherit an agency challenged by an insider trading scandal wild stock price gyrations and a host of uncertainties stemming from the globalization of financial markets
we would do well to repeat last years results if the rand stays depressed keys said
promac controls will be part of internatios electrotechnical sector
essex chemical corp esx regular dividend
his office said lawson had welcomed the outcome of a meeting between us treasury secretary james baker bundesbank president karl otto poehl and west german finance minister gerhard stoltenberg in frankfurt
comalco ltd cmacs said its return to profit reflected reduced costs improved primary aluminium prices and its withdrawal from a japanese smelter venture
new zealand trade minister mike moore told his colleagues great progress had been made in preparing for the current round of gatt negotiations which must not be sidetracked
sama offers a total of 19 billion riyals each week in 30 91 and 180 day paper to banks in the kingdom
labour minister almir pazzionotto said the government will not force a settlement of the strike which was ruled illegal last friday
it said it expects to file an amendment to its form 10 k but did not say when the amended filing would be made
but he said the situation was greatly different now
grace received 993 mln dlrs cash and will record a pretax gain of about 37 mln dlrs in the first quarter the company said
a farm secondary market would allow lenders to sell high quality loans on farmland to poolers who in turn would package the loans and issue farm mortgage backed securities for resale to investors called aggie mae by some supporters
zimbabwe was granted an export quota of 8100 tonnes of high grade beef to ec markets in 1985 after the country had spent millions of dollars erecting disease control fences and upgrading abattoirs to meet stringent ec rules
the grain futures market also intends to consult its members soon gafta director general james mackie said
the chinese group enjoys a high level of independence from pekings central government and has extensive overseas investments
durham told the company was examining potential candidates but not yet talking with any
for technical reasons securitisation is simpler and more efficient with fixed rate rather than with floating rate mortgages
the former requirement called for three lead managed issues
eurofima of basle is launching 40 mln swiss francs of six year notes with a 4 3 8 pct coupon and 10025 issue price lead manager zurich cantonal bank said
shr 22 cts vs 18 cts net 803708 vs 642534 sales 210 ln vs 188 mln note per share figures adjusted for ten pct stock dividend paid august 1986
for one thing there is justifiable concern that countries might be relunctant to intervene if they felt it might be detrimental to their own domestic economy
the rate was the lowest since the auctions resumed two weeks ago under a new two tier exchange rate system worked out with the world bank and international monetary fund
leaseway transportation corp ltc 4th qtr loss
dealers said demand rose owing to the bonds relatively small size
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
great western savings bank gwsb quarterly div
industry sources expect china to import at least 10 mln tonnes of grain this year because of the harvest shortfall
the commerce department said on that insurance and freight costs for imported goods of 145 billion dlrs were included in the february trade deficit of 151 billion dlrs reported on tuesday
mcintyre mines ltd said it completed the previously announced sale of all shares of wholly owned smoky river coal ltd and certain related assets to smoky river holdings ltd for a nominal cash consideration
house speaker jim wright of texas told reporters before the opening of the house session it just shows we were right all along when we said something needs doing smart testified before a senate labor committee hearing that last fridays us trade action would help us negotiations on access to japan for us auto parts
shr 2 1 5 cts vs nil net 156726 vs 11989 sales 1157883 vs 890138
if we got one per cent of it it would be a big improvement he said
holmess operations are concentrated in and around new york amd miami
she stuck by the companys statement that more time was needed because the talks are complex
existing policy allowing the state up to 30 pct equity in major mining projects and 225 pct in oil and gas projects would be maintained he said
us real gnp rose 11 pct in fourth quarter
the unions sugar beet committee met yesterday to consider the implications of a government monopolies and merger commission mmc report issued last week
american can ac files 500 mln dlr shelf offer
a san miguel spokesman said he had no comment on cojuangcos court petition adding any statement coming from us might be interpreted as adversarial meanwhile ramon diaz the head of a government panel which sequestered the shares last year said soriano was not eligible to buy the major portion of the shares because he was a united states citizen
elders happy to leave carling shares outstanding
hj heinz co 3rd qtr shr 55 cts vs 46 cts
cosmo communications corp csmo year loss
alusuisse group 1986 net loss 688 mln swiss francs loss 756 mln
american sports advisors piks to liquidate
profit on ordinary activities after tax was 662 mln stg up from the previous years 607 mln
cincinnati bell csn starts auxton auxt bid
the accords were reaffirmed by the group of seven finance ministers in washington last month
concurrent with the move from its current site a few blocks away the trading hours of the midams treasury bond futures contract will expand to between 0720 and 1515 local time from 0800 to 1415 currently
bei holdings ltd said it acquired ivey rowton and associates a nashville tenn based bank marketing firm
sedgwick group plc sdwkl said its wholly owned canadian subsidiary sedgwick tomenson inc had acquired bsi incorp for a maximum eight mln canadian dlrs
the federal reserves move to easier monetary policy begun with four quick half point discount rate cuts in 1986 will likely end with a final rate drop in the second quarter analysts said
hutchison sees higher payout satisfactory profits
the ultimate question is not the price per share or the profit but rather the permissable standards of conduct for those who would takeover an american company said burlington lawyer humphrey
some traders here said the total could be more
us completions of new homes fell 02 pct in january to a seasonally adjusted rate of 1884 mln units from 1888 mln in december the commerce department said
mining is monopolised by zccm and accounts for about 90 pct of the countrys foreign exchange earnings
the voting trust agreement requires the bank to vote in favor of any acquisition agreement between twa and usair and to opposed any other merger of usair
first republic bank dallas cuts prime rate to 925 pct from 975 pct effective today
moodys investors service inc said it is reviewing for posible downgrade the debt ratings of wr grace and co because of concern the companys earnings may not be high enough to provide meaningful improvement in its currently thin margins of interest coverage for some time
the usfsp is a seven calendar day average of feeder steer prices from 27 states based on auction and direct country sales for feeder steers that weigh between 600 and 800 lbs and are estimated to grade between 60 and 80 pct choice when fed to slaughter weight
with 900 mln dlrs of proceeds available to reduce debt the financial profile should also improve
shr profit three cts vs loss seven cts net profit 161000 vs loss 367000 revs 243 mln vs 265 mln
the company said it has obtained waivers from holders of its six mln dlrs principal amount of debentures due march 31 1993 to defer interest payments aggregating 270000 dlrs through march 31 1987
hughes chairman william kistler said the revised terms of the proposed consent decree also set a 10 mln dlr cap on how much funding the newly combined companies will have to spend on the disputed drilling bit business until it is sold
1986 excludes gain of 987 mln for extinguishment of debt from companys chapter 11 filing and subsequent reorganization
the conditions represent a premium of about 145 dlrs an ounce to the current gold price
includes gains of 76000 dlrs and 378000 dlrs in 1985 qtr and year respectively
non currency reserves were unchanged at about 25 billion marks bringing net monetary reserves to 845 billion
welbilt welbo acquires food handling systems
amatil ltd amaas said it proposes to make a two for five bonus issue out of its revaluation reserve to shareholders registered may 26
he said bp does not expect any regulatory problems that would delay completion of the acquisition
allied supermarkets inc said it filed a registration statement with the securities and exchange commission for a proposed merger with the vons companies a supermarket combination store operator
swearingen said he is concerned that continental will be taken over because no bank in the midwest region is large enough to buy it and new york money center banks are prohibited by law from buying illinois banks
shr five cts vs 20 cts qtly div two cts vs two cts prior net 223000 vs 1418000 sales 153 mln vs 171 mln year shr 61 cts vs 81 cts net 3106000 vs 5940000 sales 630 mln vs 595 mln note 1986 net includes tax credits of 63000 dlrs in quarter and 1365000 dlrs in year
cominco ltd said it expects to meet today with two of five united steelworkers of america locals on strike at its trail smelter and kimberley bc lead zinc mine a cominco spokesman said
the oecd outlook did not take account of the 6000 billion yen package announced last month to stimulate domestic demand and increase imports to japan
the principles of the draft proposal included establishing an offer system for buffer stock purchases rather than a posted price system a limit to the amount of non icco member cocoa that can be bought and differentials to be paid for different varieties of cocoa comprising the buffer stock delegates said
it said the facility which is half underwritten and half non underwritten has been over subscribed and underwriters allocations are reduced from the original commitments
under the new rules banks are limited to call money credits to a maximum of 75 pct of the total of their equity capital and cash reserves
german analysts see gold firming later this year
fujitsu ltd itsut may assemble computers in oregon for sale in the united states under the fujitsu brand name a company spokesman said
allis chalmers ah estimates proceeds of sale
before they had burlington northern on their side now burlington is opposed to the way trackage rights are set up if the hearings are reopened analysts predicted it will take six to nine months for everyone to have their say and up to another year for the icc to decide
the government had obtained a further loan of 45 mln dlr from the bank of credit and commerce to help pay off its remaining 165 mln sdr arrears for 1986 and is currently negotiating loans from two other banks to complete payment he told a press conference to restrict liquidity all commercial banks will have to make a supplementary deposit with the bank of zambia equivalent to 10 pct of their demand deposits chivanu added
he said the sale of bp shares would not cut across the governments plans to privatise rolls royce in either april or may or the sale of baa plc the british airports authority which is slated for privatisation in either june or july
rep
recent international coffee organization ico negotiations in london exemplified the degree to which consumers insist that agreements reflect market reality commodity analysts said
the us agriculture department forecast brazils 1986 87 soybean crop at 1700 mln tonnes vs 1700 estimated last month
but in real terms the taiwan dollar has been flat against the us unit and the won has lost seven pct economists say
as for the remaining 30 pct iida said he wanted to shift the domestic focus away from heavy machinery sold to manufacturers and towards household goods but he declined to specify which products
boston five has assetsof 19 billion dlrs and 35 officers
in 1985 it reported earnings of 1274000 dlrs which included a loss of 363 mln dlrs for discontinued operations and 294 mln dlrs for extraordinary items
frances cne issues 650 mln franc domestic bond
it also said it recommend an unchanged dividend to the supervisory board
icn pharmaceuticals inc said it purchased the remaining 225000 shares of viratek inc virao owned by eastman kodak co owned as part of a previously announced program
this government is dragging australia through a trading holocaust the kind of which we have not seen since the second world war keating said
consumer groups are politically weak and tend to accept the traditional view that higher prices are a small fee to pay for national food security they said
these shares will not qualify for the final lex dividend on 10 april
jamaica authorized to buy pl 480 wheat usda
a spokesman for polaroid said the company had not been contacted by edelman and no filing had been made with the securities and exchange commission about a stake in the company
several firms had protested the proposed merger
those japanese companies have the capital and our companies have the capital needs and the growth opportunities to use the money
hungary raises prices in effort to curb deficit
under the agreement the interstate pipeline division of arkla inc will carry up to 25 mln cubic feet of gas a day until dec 31 1987 and subject to capacity up to 50 mln cubic feet a day in 1988 and 75 mln feet a day for the rest of the pact
shr 32 cts vs four cts net 3370000 vs 353000 revs 278 mln vs 202 mln year shr 35 cts vs 67 cts net 3543000 vs 3845000 revs 1036 mln vs 748 mln
mr
the baker plan unveiled in october 1985 calls on commercial and multilateral banks to increase lending by about 29 billion dlrs in the three subsequent years to the 15 major debtors engaging in fundamental economic reform
deputy energy minister fernando santos alvite said ecuador would have to import six to seven mln barrels of crude oil to meet its needs until the line was repaired
moreover danas financial leverage rose to 43 pct from 22 pct in 1984 and may climb even more after completing its ongoing stock repurchase program moodys said
bp bp does not plan to hike standard srd bid
computer associates international inc said it has started its previously announced 192 dlr per share tender offer for all shares of bpi systems inc
he did not give figures
swedens sandvik ab svikst and diamant boart sa of belgium in which societe generale de belgique belbbr holds an indirect 52 pct stake have finalised negotiations on merging oil and gas drilling tool activities officials of both companies said
the rising premium over gsp however was partially offset by about 10 pct decline in shipping making prices for propane about unchanged and butane five dlrs higher basis c
i think what we need is to debate this within the administration he said
it rose 1335 pct from 12427 billion at the end of december 1985
brazilian planning minister joao sayad resigned a presidential spokesman said
cir comagnie riunite industriali spa irrimi said it will ask shareholders to approve two five year bond issues carrying warrants convertible into shares of its subsidiaries buitoni spa and sasib spa neither the value nor the terms of the planned issues was released
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
current year net includes capitalized software costs of 1295000 dlrs in quarter and 3701000 dlrs in nine mths
the meeting which finished over the weekend also decided to allow a radio determination satellite system which would enable fleet owners to trace to within about 15 metres the movements of their lorries or cars or ships around the world
the student loan marketing association said it priced its 300 mln dlr short term floating rate note offer at par to yield 25 basis points above the bond equivalent yield of the 91 day treasury bill
the company said its auditor touche ross and co has indicated to it that any opinion it issues on the companys soon to be completed year end audit will be qualified
finance minister gerhard stoltenberg has said the sale of the federal governments stake in vw originally scheduled for later this year may be delayed because of the currency affair
the company went public during 1986
the bank of japan will sell tomorrow 500 billion yen of financing bills it holds to help absorb a projected money market surplus money market traders said
brokers said many investors are transferring funds into government company bonds because of their tax free status and easy transferability
however usda officials said transportation has so far contributed no money
tseng laboratories inc tsng 4th qtr net
sumita said the currency market has been reacting to overseas statements and to trade tension between japan and the us over semiconductors
the fed order said chase manhattans application was consistent with sound banking practices and existing laws
also the higher live cattle prices have been encouraging early movement of cattle from wheat pasture onto feedlots ginn said
these numbers contain no hint that a policy shift is in prospect nor do economic or financial developments argue for policy change said william griggs of griggs and santow inc
the bureau attributed the increase to a turnaround of 208 billion dlrs in official sector transactions and a 109 billion turnaround in direct investment
the year earlier figure excluded a 1817000 dlr loss from discontinued operations
japan isolated yen rises world feels cheated
usda accepts bid for bonus wheat to algeria
yulo said economists forecast a bullish sugar market by 1990 with world consumption outstripping production
philippine copper smelter faces shipment delays
the setting was the highest since october 8 as gold built on fridays gains which had been based on the weakness of the dollar and fears of a trade war between the united states and japan
year on year m1 rose 986 pct in december
australian trade minister john dawkins told the reporters bilateral retaliation at the enormous expense of the rest of the world was no way to solve trade disputes
asked by sen phil gramm r tex whether us intervention was not in fact overvaluing the dollar mulford replied that the administration judged that after economic adjustments current exchange rates reflect underlying economic fundamentals
integrated genetics inc ingn offering of two mln shares of convertible exchangeable preferred stock through alex
ortner said he would like to see the law changed to eliminate the 48 hour delay in reporting the two figures
dresser is expected to improve profitability owing to cost reductions and streamlined operations including the sale and leaseback of its headquarters said swarup
pacific gas has raised its common stock dividend on a regular basis for the past 10 years a company spokeswoman said
us exports of edible groundnuts could fall to 185000 tonnes in the year to september 1987 from 248000 in the same 1986 period trading company tracomin sa said
no amounts were disclosed
an ibc spokesman told that a 15 mln dlr loan from the banco do brasil would be used to pay five mln dlrs a month in june july and august to creditors
we need a stock index futures contract and a futures contract for recent government bonds one dealer said
federal reserve board chairman paul volcker said the us trade deficit is a challenge for the us equal to the soviet union launching of sputnik
each 50000 franc note carries 15 warrants
group may support cardis corp cds buyout
west german finance minister gerhard stoltenberg said he could not rule out the possibility of central bank intervention to support currencies
shanghai handled 100 mln tonnes of cargo in 1986
mhis exports to sales ratio fell to 259 pct in the half year ended last september from 35 to 36 pct five years ago
the bank said later that it was leaving its rate for special assistance funds from its second window unchanged at 16 pct surprising operators who had expected an increase there too
furthermore representatives of the farm credit system commercial bankers and life insurance companies are meeting in an attempt to agree on a method of establishing the market
another part will allow bolt to exercise its option to purchase all of the limited partnership interests in bbn rs expert limited partnership with the rest used for general corporate purposes
he added that telecom plus communications was the largest independent supplier of telephone exchange systems in the us and had turnover of 234 mln dlrs in 1986
a spokesman said the two pct stock dividend normally issued everly year was not issued in february because the company was examining other dividend alternatives
its been one of the dullest corporate battles ive seen said one analyst
but the process of acquisitions would go on with strategic acquisitions taking place from time to time he said
underwoods plc said it had not been possible to agree terms on a bid to be made by woolworth holdings plc wlukl during talks
an extraordinary meeting of astras board proposed the creation of b free shares open to foreign buyers with one tenth of a voting right per share
china taiwan trade via hong kong fell in 1986
belgium to issue gold warrants sources say
president suharto in an opening speech to the indonesian petroleum association said indonesia was ready to extend contracts held by foreign oil companies on producing areas
the federal home loan bank board had closed first federal on march 20 because it was insolvent
it is near completion in cordoba and santa fe and will begin in la pampa and southern buenos aires later in april
they compared with profits of 5517 mln dlrs in 1985
ramada ram sells subordinated notes
current year net both periods includes 6700000 dlr writedown of inventory of clinical chemistry products
eastpark realty trust ert 4th qtr net
joule inc joul sets stock split
american motors said directors took no action on chrysler proposal postpones annual meeting
in its statement borg warner said its board endorsed the merrill offer and it recommended that shareholders tender their shares
energy secretary john herrington told congress that a federally chartered corporation would be the best way to manage and operate the governments uranium enrichment program
the debentures have an 8 3 4 pct coupon and were priced at 99375 to yield 125 basis points over the off the run 9 1 4 pct treasury bonds of 2016
shr loss 45 cts vs profit 20 cts net loss 1841000 vs profit 983000 revs 562 mln vs 1029 mln avg shrs 4127000 vs 4835000 1st half oper shr four cts vs 80 cts oper net 172000 vs 4359000 revs 1214 mln vs 2093 mln avg shrs 4127000 vs 5439000 note current half net excludes 706000 dlr loss from discontinued oil and natural gas operations
old stone ostn completes acquisition
harcourt which is fighting off a takeover bid from british printing and communication corp plc has declared a special dividend on common stock of 40 dlrs in cash and 12 pct preferred stock with a market value of 10 dlrs per share
the suit was filed in new york because trading allegedly took place here
gzb increases bond issue to 18 billion schillings
crossen said because marion is still just a small company the growth of cardizem is having a big impact on the bottom line he raised fiscal 1988 earnings estimates to 215 dlrs a share from his previous estimate of 205 dlrs a share
dutch oilseeds fats imports rose in 1986
in a filing with the securities and exchange commission the group said it bought 43600 tandy common shares between may 21 and june 9 for 633333 dlrs in addition to the 132300 shares or 52 pct it had held previously
s p affirms ratings on att t debt
medchem products inc mdcho 3rd qtr net
it also will be faced with an expensive but necessary updating of its aging fleet of 111 aircraft
wright told reporters the plan by sen
fairfax said it is too early to predict results for the full year
but the firm said silver may lag behind gold in any reactions to movements on foreign exchanges
the group said its most recent purchases included 106000 shares bought march 10 31 in ordinary brokerage transactions
sun city industries inc said preliminary unaudited results of ongoing operations for the fiscal year ended january 31 1987 are expected to rise over 580 pct to 700000 dlrs or 70 cts per share from the 125313 dlrs or 12 cts reported last year
neti technologies netfco sells subsidiary
goldman sachs and co is lead underwriter for the offering
they said the domestic beef intervention price influences imported beef selling prices on the domestic market
it added that there was a one time gain of 281 mlns dlrs after taxes from an inventory accounting change
asked if the us had contacted japan after the stock market plunge in new york miyazawa said there was not any contact
dealers said main reason for the sell off was not technical
this paradoxically is creating a problem for the maize board kahn and kahn said
avalon corp said that deltec panamerica sa has arranged to sell its 23 pct stake in avalon and that deltecs three representatives on avalons board had resigned
lincoln savings bank said its board declared an initial dividend of 10 cts per share payable april 17 to shareholders of record april 10
based on the spread between banks cost of funds and the prime rate it probably makes sense for others to follow but no rush is likely said paul mcculley of ef hutton and co
the following rainfall was recorddd in the areas over the past 24 hours parana state umuarama 106 millimetres paranavai 122 mm londrina 60 mm maringa 80 mm
but they added that french ministry officials were continuing the contacts to exchange views on market performance
retail prices rose an average of 881 pct in 1986 while industrial producer prices rose by 706 pct the banks data showed
brazil anti inflation plan limps to anniversary
santa fe energy partners sfp 3rd qtr loss
italy today announced that its official discount rate would be cut to 115 pct from 12 pct effective tomorrow
it said the soviet economy grew by 42 pct in 1986 gorbachevs first full year in power twice the average rate of growth over the previous 10 years
australia could lose valuable wheat markets through lack of availability if plantings for the coming 1987 88 season are significantly reduced australian wheat board awb chairman clinton condon said
conoco said the increase brings its price for the us benchmark crude west texas intermediate to 1750 dlrs a barrel up one dlr
loctite loc sees better than expected net
canadian foreign reserve holdings rose 123 billion us dlrs in march to 777 billion dlrs the finance department said
bankamerica bac to sell german banking unit
the company said it did not know if it would pay regular dividends in the future
the first expo will be held in june 1988 in des moines with an expanded format they said
about 1300 miners and workers entered today their fourth day of fast in union offices and roman catholic churches to press for a substantial hike in bolivias minimum monthly wage which is 40 bolivianos about 20 dlrs cob leader walter degadillo said
northair mines ltd said it would oppose nor quest resources incs earlier reported proposed takeover bid with every means at its disposal saying this attempt at a property grab is an insult to the intelligence of our shareholders it said nor quests offer to swap one nor quest share plus one dlr for two northair shares would seriously dilute northairs equity in its willa mine in british columbia
proceeds will be used primarily to retire bank debt
grand metropolitan plc s heublein inc subsidiary said it will phase out operations at almadens san jose winery and transfer production of the wines to the companys madera calif winery
elders which owns 100 pct of carlings outstanding common shares previously proposed to redeem the 433745 carling series a preferred shares at 3350 canadian dlrs each and redeem the 386662 series b preferreds at 40 dlrs a share
moodys will assess the effect of the proposed transaction on chryslers capital structure
we helped defeat the wine equity act two years ago but we will not stand by and watch our own farmers suffer from such protectionist ec measures bennett said
the producer price index for finished energy goods has fallen 209 pct in the past 12 months
among the corporate headquarters lost during the period were crown zellerbach memorex southern pacific castle amp cooke and rolm
qtr ends feb 28 shr class a 61 cts vs 48 cts shr class b 59 cts vs 46 cts net 2358000 vs 1876000 revs 122508000 vs 105871000 six mths shr class a 115 dlrs vs 86 cts shr class b 113 dlrs vs 84 cts net 4485000 vs 3378000 revs 242453000 vs 210117000 note qtr and six mths prior figures reflect two for one stock split in august 1986
shr 42 cts vs 59 cts net 734659 vs 1033309 nine mths shr 92 cts vs 169 dlrs net 1629719 vs 2971144 note 1987 nine mths net includes a loss of 290000 dlrs on sale of securities and nine recurring charge of 32713 dlrs for write off of fslic secondary reserve
chrysler said the letter of intent for the deal which needs government and amc shareholder and board approval provides that amc holders will receive not more than 0840 or less than 0687 of a share of chrysler common for each share of amc common they hold
prescott ball and turben co managed the deal
economists stressed that gains in hours worked signal much larger gains in february us production and income than previously forecast
its overseas edition said the growth rate which compares with a target of seven pct for the whole of 1987 was rather high but the base in the first quarter of 1986 was on the low side
at the prior meeting in mid december the fomc set a seven pct target for m 2 and m 3 for november through march
associates corp of north america is issuing a 15 billion yen eurobond due november 2 1992 with a five pct coupon and priced at 102 3 8 ibj international ltd said as lead manager
exports were down 63 pct at 745 billion dlrs compared with 795 billion in 1985 while imports were down 21 pct at 1110 billion dlrs from 1134 billion
but market sources said that while the recent franc performance leaves room for a further quarter point cut in the intervention rate there was plenty of market liquidity
shr 137 dlrs vs 119 dlrs net 1018 mln vs 923 mln revs 1750 billion vs 1725 billion avg shrs 742 mln vs 778 mln
subscriptions close march 25
rafidain banks jordan branch raises capital
gasoline demand averaged 672 mln bpd off 12 pct from 680 mln last year while residual fuel demand was 138 mln bpd off 21 pct from 141 mln the eia said
the suit also charges the offer is illusory and designed to manipulate the market in caesars world stock to enable sosnoff to sell the caesars world stock he already owns for a substantial profit
arranger for the facility is county natwest capital markets ltd while national westminster bank plc will act as issuing and paying agent rank added
the dollars steep fall stems from the markets belief that the trade imbalance will continue to expand he said
dealers for the one billion us dlr borrowing program were the aidc credit suisse first boston ltd merrill lynch international and co morgan stanley international salomon brothers international ltd and swiss bank corp international ltd the aidc said
ultramar sells uk marketing units for 50 mln stg
it could take weeks before the extent of the compensation claims for passengers crew and cargo was known and also before it was known how much if any of the ship could be salvaged said david larner of lloyds
he said another disturbing development was the so called national quota approach adopted by groups of banks
chilean gdp up 57 pct in 1986 central bank says
jacobs had earlier considered waging a proxy fight over gillette
watanabe has acted as mediator between two rival groups one of which included c and w seeking to compete against kokusai denshin denwa co ltd which now monopolizes japans overseas telephone business
in addition ibm has said the full benefits of its early retirement program and other cost cutting moves will emerge as the year progresses
lacy said that rmj employed some 300 people with 200 in the brokerage business and about 70 in its sms unit which provided computer software for the financial services community
cardinal industries cdni restates net lower
the issuers outstanding securities are rated a plus by standard and poors corp
there is a 1 1 2 pct selling concession and a one pct combined management and underwriting fee
gencorp also said its board is carefully studying the offer and will make a decision on whether or not shareholders should accept or reject it by march 31
this compared with a two pct growth forecast made by the wifo last december
colonial bancgroup clbga buys destin bank
inco ltd said it did not expect its earlier reported removal from the dow jones industrial index to make a major impact on the companys stock
the five year deal is priced at par and guaranteed by the sumitomo bank ltd
the rexham board had rejected the nortek bid as inadequate
secured bonds of mortgage shipping and public authority banks would be an exception to this via such securities as mortgage and municipal bonds
he lyng does not intend to bring it up the aide said adding that the subsidy offer remains dormant lyng plans to spend about five minutes reviewing the status of farm legislation on capitol hill before the economic policy council which is responsible for guiding the administrations economic policy the aide said
all previously announced conditions regarding the lending group led by manufacturers hanover remain in effect except that the loans are subject to the concurrent receipt by cyacq of equity contributions and other financing of not less than 2105 mln dlrs for the tender offer facility and 2135 mln dlrs for the merger facility
another factor was the quality of the harvest in cuba chinas major supplier through barter trade he said
indian thermal power firm gets 169 mln mark credit
malaysia is unlikely to meet its targeted output of five mln tonnes of oil palm in calendar 1987 oil palm growers told 
german steel subsidies cannot continue minister
the company said the san diego based defense systems and software development company had sales of about 23 mln dlrs in 1986 and will operate as part of balls technical products group
it added that it believes brazil will reach agreement with its banks on a debt restructuring and that all interest payments will be received later in 1987
california energy co inc said it negotiated a 160 mln dlr private financing with drexel burnham lambert inc
president leon febres cordero says the earthquake cost the country one billion dlrs in losses and left 1000 people dead or missing
first quarter 1987 results include one month contribution of west virginia power which became a division on march 1 1987 green said in remarks prepared for delivery to analysts
health properties hrp to buy properties
listing will be in luxembourg and the bonds will be issued in denominations of one mln yen
humana inc 2nd qtr shr 44 cts vs 54 cts
the company said a drop in 1986 full year operating profit to 1501 mln dlrs from a restated 2527 mln dlrs in 1985 was due mainly to lower world oil prices
buffton said its share will cost 400000 dlrs
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
they said the gesture refelcted close political ties between jordan and iraq as well as baghdads financial difficulties
canadian published reports quoting government sources say the two countries are close to reaching a trade deal and it will involve eliminating border tariffs and many non tariff barriers over the next 10 to 12 years
miyazawa says exchange rates will stay stable
several analysts had estimated a break up value of less than 150
an official at the london international financial futures exchange liffe said the exchange currently has no plans to introduce more mark denominated contracts beyond the existing mark dollar contract
mario rodriguez montero president of an organization of american states special committee on trade said he was aware of the large us trade deficit but added the region should not be the one affected by the trade bills he said the causes of the deficit were the strong dollar and the budget deficit and it is regrettable to solve it by a trade bill that would only serve private us interests rodriguez made the comment at a news conference after two days of meetings with us officials on trade bills now in congress that are designed to reduce the us trade deficit which last year hit a record 1663 billion dlrs
a decision on final dumping duties on frozen orange juice from brazil may not be issued until tomorrow commerce department officials said
he said if other countries follow canadas lead it could result in a rash of protectionist actions throughout the world french corn growers have recently indicated they will challenge us corn gluten feed shipments to europe
italys response to protests by us soybean producers about the proposed european community ec tax on vegetable oils and fats had not been encouraging american soybean association asa board chairman george fluegel said
but with indonesia facing parliamentary elections next month he is likely to avoid anything which would imply that the bank is demanding specific changes
summer rice is usually in or nearing reproduction in most southern areas it said
march april sold at 4340 4345 and 4350 dlrs
commenting on published reports that imperial had suspended its oil supply contracts cote said its not a question of cancelling or suspending any of the agreements at this point on june 1 albertas energy resources conservation board will lift its crude oil marketing prorationing system regulating shut in light and medium crude production on a trial basis to the end of 1987
trc runs a rail network linking dar es salaam and the northern port of tanga with the coffee growing area around mount kilimanjaro and ports on lake victoria and lake tanganyika
the entire southern section of lyon was cordoned off
usda said factors once supportive of increased long grain acreage have turned around
and gm will raise the cash dividend 25 to 50 cts a share next year he predicted
the company said that following these sales pergamons ordinary shareholdings in both bpcc and hollis remained above 51 pct
qtrly div three cts vs three cts prior pay may 15 record april 24
furthermore representatives of the farm credit system commercial bankers and life insurance companies are meeting in an attempt to agree on a method of establishing the market
transamerica insurance group the main property liability insurance operation of transamerica corp said it signed a definitive agreement to acquire a newly formed insurer commerical risk underwriters insurance co from clarendon group ltd transamerica said the unit which will be renamed transamerica reinsurance co will initially be capitalized at about 185 mln dlrs
he said ico quota talks broke down last month because consumer members lack the political will to fully support commodity agreements and because consumers tried to dictate to producers
malaysia has come under pressure from some producers to join the pact soon officials said but they noted that it need not rush to do so as there are provisions which allow countries to join the agreement even at a later date
ortiz mena says commercial banks must renew lending to the region if debtors are to grow and repay creditors
bankers trust co will act as fiscal and paying agent
but it will be a tremendous achievement because theyre going to have to build an international earnings base larger than the earnings of a lot of significant domestic trust companies walsh said
some 3930 blocks encompassing about 21 mln acres are involved in the proposed sale
the debentures will be listed in london and the fees for the deal total 2 1 4 pct
the non recurrent earnings mainly derived from the firms sale of a 1575 pct stake in cathay pacific airways ltd caphhkg in april
ocean bio chem inc obci year net
pay date is april 10
kuwait has backed iraq in the seven year war against iran and its ships have increasingly been the target of iranian attacks
network systems corp nscoo 3rd qtr net
i think the d mark market is still good but only if you can give a good coupon another manager said
he was not immediately available for comment
bank of france cuts intervention rate to 7 1 2 pct from 7 3 4 pct official
winds gusting to 45 mph caused four to six foot waves along the western and southern shores of lake michigan during the morning
cabre exploration ltd six mths jan 31 net
analysts have been divided on whether it makes sense for american express to give up a stake in the wholly owned brokerage which improved its after tax earnings by about 50 pct in the last year
the miners federation left the door open to negotiations with the government but only if the authorities show their intention to find solution to our demands aranibar said
the agriculture department is in the best position to determine whether consideration should be given at this time to extending to the soviets a subsidy under the export enhancement program although shultz will not oppose a wheat subsidy to the soviets there remain obstacles to another subsidy offer to moscow the state department official said
trading in coffee in calendar 1986 amounted to only 1905 tonnes in 381 lots valued at 687 billion rupiah
the redemption of an attractive double digit yield issues has tainted nabisco in investors eyes said one trader
moodys launches us corporate bond index
ausimont compo nv aus raises quarterly
the government would follow with spending cuts in its economic statement on may 14 he said
earlier today afg and wagner and brown said that without the benefit of additional information available to gencorps management it cannot compete economically with gencorps proposal
private banks are being increasingly urged to renew lending and accept innovative repayment schemes not only by debtors but also by official agencies which have stepped up their own credit flows as part of the us inspired plan
national guardian natgo acquires alarm firm greenwich conn national guardian corp said it acquired pacific fire extinguisher co which specializes in installation of fire and burglar alarms
augenthaler said that while uspci was trading at only 34 dlrs a share at the time of the takeover bid its announcement that same day of higher earnings expectations changed its value
jiang said ningbo is under utilised because of its inadequate facilities including a single track rail line linking it to hangzhou where it joins the national network
the move raised tariffs to 100 pct from about five pct on japanese color television sets hand held power tools and portable computers
higher soybean production in south america and europe made up for lower production in the united states he said
in addition the company said it is projecting a 17 pct gain in customer telephone lines and a three to four pct increase in long distance calling volumes
traders also said that rogers reiterated a recommendation of international paper another forest products company that scored large gains in january as the dollar floundered
the three tranches have average lives of 121 178 and 227 years respectively salomon brothers said
under the latter pechiney which does not manufacture packaging equipment will form and lead a consortium of yet unspecified european partners a spokesman said
a spokesman for the villa rica cooperative said flood waters last month had not reached coffee plantations and the crop was unaffected
revenues for the full year ended december 31 1986 were 55 mln dlrs and net assets at year end were 3175 mln dlrs
thermo electron tmo to sell convertible debt
these include oil cakes cereals raw cotton raw and semi processed leather gems castor and sandalwood oil psyllium husks and seeds opium and various mineral ores
the analysts said that bp had promoted a major management reorganisation of standard in the past year
sia to appeal fed ruling on commercial paper
saudi arabia reiterates commitment to opec accord
interest will be payable march 15 and september 15 starting september 1987
uprooted or base budded trees mature later causing an output loss estimated at 350 kilos per hectare from the sixth year when they begin producing
christopher sibson secretary general of ipma in explaining why the recommendation was adopted said it is aimed at the problem of the lead manager who does a deal and disappears sibson said the organization cannot force its members to adhere to the rule
moodys said it took the action which affects approximately 117 mln dlrs of debt after examining lorals acquisition of goodyear aerospace corp
however the group would not seek a listing for the time being
cadillac fairview says it has received some acquisition proposals
this currency alignment between japan and the ec is reflecting the excellent performance of the ec countries
they added that only france and italy had indicated they would support the commission proposal which would lead to a tax initially of 330 ecus per tonne during the 1987 88 price round
the company also said it plans to offer convertible subordinated debentures publicly
frozen pork bellies fell sharply on the outlook for greater production and closed with limit losses
finance and economy ministers of the six nation gulf cooperation council gcc have ended talks after adopting resolutions and recommendations aimed at boosting economic integration
aluminium consumption growth is not expected to accelerate by as much as general growth but non socialist world consumption is nevertheless forecast to increase sharply from 1377 mln tonnes in 1990 to 1725 mln tonnes in 1995 bird said
lord abbett bond debenture fund qtly div 28 cts vs 29 cts prior pay may 5 record april 9 lord abbett us government securities fund daily div 29 cts vs 29 cts prior pay may 15 record may 15 lord abbett tax free income fund national series daily div 67 cts vs 67 cts prior pay may 15 record may 15 lord abbett tax free income new york series daily div 67 cts vs 67 cts prior pay may 15 record may 15 lord abbett tax free income texas series daily div 59 cts vs 59 cts prior pay may 15 record may 15 lord abbett california tax free income daily div of 62 cts vs 62 cts prior pay may 15 record may 15
when the sale is complete it will bring to 24 the number of restaurants operated by national pizza the company said
shr loss six cts vs loss 88 cts net loss 128141 vs loss 1298377 sales 1332218 vs 385146 year shr profit six cts vs loss 147 dlrs net profit 120571 vs loss 2171011 sales 4617034 vs 2959141
spot prices have since revived due partly to seasonal demand for gasoline and its output has risen
we are not going to stand by while other parties distort the picture for their own strategic purposes and distract the market away from the real benefits of the merger he said
fmd inc in merger agreement
earlier today shell canada shc said it raised its crude postings about 47 canadian cts bbl bringing edmonton light sweet to 2195 canadian dlrs bbl and the light sour crude to 1995 canadian dlrs bbl
first the buffer stock manager would be open to offers for cocoa rather than using fixed posted prices as previously delegates said
the washington based ida is the world banks affiliate for concessionary lending
jude said the rights may be exercised only after 10 days following the acquisition of or commencement of a tender offer for at least 20 pct of the companys common stock
he said the implication for equity markets in neutral to bullish
australian terms of trade worsen in last quarter
volcker said the challenge was greatest in the education of low income minority groups such as blacks and hispanics
it said it has reduced the percentage of its energy related loans to its total loans to 147 pct at the end of 1986 from 26 pct in 1982
the department said exceptionally cold weather in january reduced exports that month and that there had been an element of catching up in the february figures
us m 1 money supply rises 19 billion dlrs in feb 23 week fed says
but on january 28 the dollar closed at 15150 60 yen after dipping as low as 15040 yen earlier in the session
in a statement following a meeting of the ministers they said that the existing debt strategy offers no prospect for a lasting solution to the debt problem the statement said that there should be a new attitude and approach in respect of the existing stock of debt and called for current flows and future credits to be examined by governments multilateral and banking institutions
cbt leaders plan april trip to far east
emanuel was not refering to debts to foreign governments and multilateral organisations the spokesman said
simultaneously efforts for spread of improved technology including timely use of inputs farm materials like fertilisers in adequate quantities have to be vigrously pursued it said
apart from its recovery against a weak us dollar the australian dollar has also risen almost three pct on a trade weighted basis in the last three weeks
florida public utilities co said its board declared a three for two stock split on its common stock
however kramer said the lower economic growth should have no notable effect on the governments attempts to cut the budget deficit
it has also expressed interest in dutch publisher kluwer nv kluwas
the company said it continues to hedge the balance and seek opportunities to repurchase below par an increasing percentage of the bond issue
yugoslav february inflation rises 72 pct
one of several investor groups formerly associated with london investor christopher moran in his unsuccessful bid to take over zondervan corp last year said it cut its stake in the company to less than five pct
fortune forf to acquire marine savings
he cited the example of a california company which transports live us cattle to japan by air for slaughter to circumvent the beef quota
french reserves fall on debt repayment
it said it has the right to cancel the warrants after one year if no transaction has been completed
qintex ltd of brisbane said westpac banking corp of australia has issued a commitment letter to provide princeville development corp with the letter of credit required under qintexs proposed acquisition of princeville
lear siegler eventually went private for 166 billion dlrs
companies tell us that we have to give them a strong incentive to take on people who have fallen out of the labour market and thats why the proposals are costly an aide to seguin said
he did not say if the meeting would continue beyond friday
i think these changes will strengthen the presidents hand politically and the stronger he is politically the better off we are with the congress and the better off we are in international fora said the official an administration economic policymaker
the price of new crop cotton on the new york cotton futures market rallied today on weather related fears
ussr to cut coal price for japanese steelmills
sandoz corps northrup king co said it bought stauffer seeds a unit of stauffer chemical co
sphinx mining inc said leased mining claims in alaska could produce revenues between 322 mln dlrs and 966 mln dlrs from gold reserves
spain raises call money rate to 145 pct
officials said the corporations assets rose to 131 billion dollars last year from 104 billion at the end of 1985
daewoo corp calendar 1986
capital costs to bring the mine into production are estimated at 76 mln dlrs
the international monetary fund and world bank meanwhile have committed nearly 12 billion dlrs in loans for the 15 major debtor nations since late 1985 official creditors have rescheduled 145 billion dlrs in outstanding loans through the paris club while commercial banks are making new loans
we have the impression it may be difficult to get even two per cent growth this year the big question is whether the governments policy of wage moderation will be maintained he added
us feed situation summary report delayed
poehl noted west germany had already taken steps to meet us demands for greater stimulation of its domestic economy accelerating tax cuts cutting interest rates and tolerating above target money supply growth
botswanas official news agency bopa announcing the ban last night quoted agriculture minister daniel kwelagobe as saying only sterilised and canned animal products would be allowed into the country with immediate effect
the action affects the equivalent of 168 billion us dlrs of debt
but washington has previously said it would not agree to a nine billion dlr increase in its subscription unless reforms were agreed a position described today by nicaraguas central bank governor joaquin cuadra chamorro as undemocratic
the greek government later withdrew fridays request to washington to close down its telecommunications base at nea makri north of athens saying that the reasons which had prompted it to make the request were no longer valid
ecuador estimates that it will cost between 145 to 150 mln dlrs to repair oil installations damaged by the earthquake energy ministry javier espinosa said
net chargeoffs 150 mln dlrs vs 142 mln dlrs
carpet firm unit cuts allied products adp stake
german institutes warn on money supply
the company did not say what percentage of hydrocarbons was crude oil but has previouly said it was about 48 pct
the stock market was easier at midsession but brokers said the current account data had little impact on trading
without relief the company will incur losses of 287 mln bolivars this year 556 mln in 1988 733 mln in 1989 and 147 billion in 1990
safeguard scientific inc said its subsidiary coherent communications systems corp purchased a telecommunications equipment business for an undisclosed amount of cash notes and coherent common stock
however the rating agency said the agreement does not benefit other gemico affiliates in california florida and north carolina
pharmacontrol corp said it acquired private formulations inc from revco ds inc for six mln dlrs in cash a 13550000 dlr promissory note and warrants to buy 200000 pharmacontrol common shares
csr ltd csras said it had declared unconditional its takeover bid for pioneer sugar mills ltd following pioneers recommendation that shareholders accept
he said this may conflict with bundesbank aims to move more funds from relatively short term deposits to longer dated securities to reduce strong growth in its central bank money supply aggregate
united states lines inc has laid off 260 employees almost its entire far east staff its hong kong office general manager elliott burnside told 
west german producer prices rose 01 pct in may compared with april to stand 29 pct lower than in may last year the federal statistics office said
bond corp holdings ltd bonas said it has agreed to acquire an 80 pct stake in merlin international petroleum corp from crowley maritime corp for 908 mln us dlrs
seasonally adjusted but non smoothed figures show a merchandise trade surplus of 132 mln dlrs against a 148 mln dlr surplus in march and a 14 mln dlr surplus in april 1986
dauster says no change in brazils coffee policy
shares of warner communications inc wci rose 7 8 to 31 1 8
rainier rban completes acquisition
preliminary estimates put net public sector injections for 1987 88 year at 21 billion dlrs
weve opposed it in the past
high technology exports must be approved by the departments of commerce defense and state
terms call for an exchange of 275 shares of centurion shares for each share of central national
one source at a house involved in the deal said its got to be a blow out
avery international corp avy offering of two mln shares of common stock through kidder peabody and co inc and goldman sachs and co
according to latest onic statistics the main buyers were italy with 189 mln against 163 mln in the same 1985 86 period west germany 480450 tonnes against 717689 the netherlands 462048 532299 and belgium 417887 tonnes 919337 british and greek imports of french soft wheat during this period were below year ago levels
near term earnings and cash flow protection will weaken from the acquisition though banners plans to sell some rexnord assets will reduce debt for the medium term
it also said it will concentrate on its direct brokerage and service business
said one us analyst of bakers weekend remarks his timing could not have been worse one government bond salesman in new york said he actually thought that yelling at the germans and threatening to smack the dollar down would work
ryan told analysts although he declined to forecast earnings specifically
the cost of living in west germany was provisionally unchanged in march compared with february but fell 02 pct against march 1986 the federal statistics office said
banking sources said zambia was persuaded by the world bank and imf to lift its proposed ceiling of 1250 kwacha per dollar on the currencys devaluation once the auctions restart
showers continued throughout the week in the bahia cocoa zone alleviating the drought since early january and improving prospects for the coming temporao although normal humidity levels have not been restored comissaria smith said in its weekly review
for the six months ended jan 31 the company reported net income almost tripled to 951000 dlrs or 34 cts a share as sales rose 38 pct to 206 mln dlrs
cocoa council meeting ends after agreeing rules
newly nominated federal reserve board chairman alan greenspan said there was evidence the dollar finally had bottomed out
the linotype unit based in eschborn west germany had revenues in 1986 of more than 200 mln dlrs the company said
parent bank net profit rose to 477 mln from 422 mln and the dividend remained unchanged at 12 marks
but im certain that in dingmans mind the company is worth more than that in breakup value
mccarthy noted that the housing report together with larger than expected gains in us employment industrial output and retail sales in february may cause some observers to start waving four pct gnp banners for the first quarter
but stoltenberg said in a speech last night in hamburg that while the economy would continue to expand this year the rate of growth was uncertain
company sources currently in talks with algeria agree saying that algerian lng would only serve to meet peak demand
the lewiston bank which has been renamed first of america bank lewiston has assets of 549 mln dlrs
supply is diminishing to help ensure that the cutbacks are implemented miti called in the president of japans largest semiconductor maker nec corp nipnt last week he said
phelps dodge pd sees stronger copper prices
mthly div 71 cts vs 71 cts prior pay april 30 reord april 15 note franklin puerto rico tax free income fund
but they admitted that japan was considering taking the united states to gatt the geneva based international organization which polices world trade if washington imposed the tariffs
each project consists of a 20 year energy sale agreement it said
uk intervention wheat sold to home market
service resources src ends sorg srg bid
ec diplomats said britain demanded the early debate on the ec executive commissions proposal to impose a hefty tax on domestic and imported oils and fats in an attempt to head off a proposal it sees as extremely damaging to ec foreign relations
it said the offering will be through an underwriting syndicate managed by dillon read and co inc
iowa grain elevator explodes burns
i think the market is going to be looking at some other things and accentuate whatever the action of cash markets might be early next week jerry gidel livestock analyst for gh miller said
alcan al to close west german smelter
bank of japan intervenes in early tokyo afternoon
diamond shamrock offshore partners said it has started development drilling on west cameron 178 block off louisiana in the gulf of mexico after a significant natural gas find on the block
weyerhauser has about 16 billion dlrs of debt securities outstanding
we have to study this more reagan said
managers are dresdner south east asia ltd mitsui trust and banking co ltd and the uco bank
the bundesbank last intervened on january 27 when the dollar threatened to fall below 181 marks
moodys said the merger should strengthen the banks earnings potential through the acquired access to pncs product lines
us agriculture undersecretary dan amstutz indicated the united states is willing talk with the soviet union about the competitiveness of us wheat prices but would not discuss making us wheat prices cheap there sometimes is a difference between being competitive and being cheap amstutz told a senate agriculture appropriations hearing
restaurant associates industries inc said the management group led by chairman martin brody and president max pine through october 16 had received 1796727 class a and 1766091 class b shares in response to its tender offer for all shares at 18 dlrs each giving thema majority of each class of shares
1986 net both periods excludes charge 9400000 dlrs for estimated settlement and expenses connected with chapter 11 bankruptcy
btr nylex which manufactures rubber and plastic products first bid for bwa in late january
he attributed this to restoration of law and order which has greatly reduced not only the extent of unrest but also the intensity of unrest south africa has been under a state of emergency since june 1986 because of black political violence that has claimed over 2400 lives in the past three years
essos price for 95 octane remains unchanged at 908 cents
the company reported a 126 mln dlr loss or 175 dlrs a share in 1986 due largely to a 90 mln dlr restructuring charge and a 40 mln dlr inventory evaluation readjustment taken in the second quarter
hanbury said some japanese companies flush with cash are interested in the expertise of american brokers
bank of new england said the notes will count as primary capital of the corporation
private banking earnings will hit 100 mln dlrs in 1987 and top 200 mln dlrs in 1992
anitec image antc sells convertible debentures
sterling drug inc sty increases payout
i think the markets believe and have believed for a long time that the only recourse is to reflate at some point
faster test for sickle cell anemia developed
options can only be written on the original 14 bonds selected when bond options were introduced last april
thomson mckinnon income fund dividend
usually issuers and underwriters alert the rating agencies to any changes in debt offerings he said
ems development has also been held up by britains refusal so far to join the systems core exchange rate mechanism
the latin american issue at least on the surface appears to be a new danger said an aide who asked not to be named
and unequivocally all gcc states we have talked with have said that would not be in the interests of the arabian peninsula
they said the near instant sale of the entire new gilts issue for which the bank of england had required a high 40 pct downpayment was clear evidence that the market thought rates had to drop sooner rather than later
united asset management corp said it has completed the acquisition of rice hall james and associates of san diego for undisclosed terms
president reagan signed a bill limiting fees that may be charged by the government national mortgage association gnma for its guarantees of privately issued mortgage backed securities but voiced serious reservations about the measure
american brands amb sees higher 1st qtr net
the amended suit filed by eduardo de los angeles is part of a continuing attempt by certain elements in complete disregard of the facts and with questionable motives to delay an early disposition of the sequestered shares san miguel corp said in a statement
the offer values each horizon share at some 0213 of a bass ordinary share or 190p
esselte ab esbst 1986 results
data in the letter showed the tea and hazelnuts contained caesium levels far in excess of ceilings recommended by the united nations food and agriculture organisation fao the letter said people who had consumed the tea faced no particular health danger as most of the caesium remained in the tea leaves but it warned against eating the hazelnuts
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
the canadian imperial bank spokesman said the bank card market is a very competitive one and we have to move to stay competitive canadian imperials new rates match those of toronto dominion bank which lowered its rates before the finance committee report
xerox corps uk unit rank xerox ltd said it agreed in principle to sell its south african company rank xerox south africa pty ltd to altron groups fintech unit
nerco inc said its oil and gas unit closed the acquisition of a 47 pct working interest in the broussard oil and gas field from davis oil co for about 225 mln dlrs in cash
economies on development costs for the tern and eider north sea fields which were approved last year have brought the cost down to 30 to 35 pct below the original budget
plans call for production to eventually reach 500000 mt annually
borg warner corp will vigorously resist gaf corps 46 dlr per share takeover offer but the midwest conglomerate may fall prey to another offer either from gaf or its own management analysts believe
acquisition documents have been signed and are being held in escrow pending the receipt of certain consents it said
export growth was smaller than expected due to lower earnings from many key commodities including rice whose earnings declined 18 pct maize 66 pct sugar 45 pct tin 26 pct and canned pineapples seven pct
telecom plus tele to change name
for example on the first 350 tons of production a grower would receive 6 cts per lb in fiscal 1988 45 cts in 1989 3 cts in 1990 and 15 cts in 1991
almadens administrative functions will move to heubleins headquarters in farmington conn the company said
under the plan shareholders may buy one share of common stock at 65 dlrs for each share held
the notes are priced at par or 1000 dlrs each
negotiations between international coffee organization ico members to re establish producer export quotas broke up earlier this week with major producers and consumers accusing each other of intransigence
instinet corp said its board has scheduled a special shareholders meeting for may 21 to vote on its proposed merger into holdings plc rtrsy it said shareholders of record as of april 10 will be eligible to vote at the meeting
yeutter said japan would be sending a senior official from its trade ministry to washington next week for talks on the computer chip dispute
it paid special attention to reassessing the effect of exposures to lesser developed countries on the holding companies earnings and capital
grade 97 octane with 015 gm lead will be 968 cents litre against 94 cents previously for 04 gm lead
matsushita electric industrial co ltd mct said it will issue a 200 billion yen unsecured convertible bond in the domestic capital market through public placement with yamaichi securities co ltd nomura securities co ltd nikko securities co ltd daiwa securities co ltd and national securities co ltd as underwriters
turkeys banks are reporting a strong recovery in 1986 profits but a government drive to liberalise capital markets poses new challenges to a banking industry seeking to broaden its earnings base
westinghouse electric corp wx said it is still open to a merger of its radio operations with general electrics cos ge nbc radio operations
the newly issued shares raises champions outstanding shares to 3113074
ecuador quake to cut oil revenues 800 mln dlrs
national amusements again ups viacom via bid
in the 1986 report rothmans international said rht which is controlled by rupert foundation sa owned 1825 mln ordinary and 6437 mln b ordinary shares or 999 pct and 261 pct respectively
this situation however cannot continue indefinitely
deposits by non bank customers rose to 3381 billion dlrs against 3360 billion and 2802 billion
american security asec to release information
thailand is to negotiate tomorrow with selected trade houses for renewal of long term raw sugar sales contracts to cover the next five years at a rate of 60000 tonnes annually traders said
todays agreement was reached between south africas chief debt negotiator chris stals who chairs its standstill coordinating commmittee and representatives of the 12 banks on the commercial bank technical committee
london freight market features grain out of us 
it said the downgrade reflects the substantial increase in the companys debt in order to finance the acquisition and the risks of assimilating such a relatively large acquisition
scotia mortgage corp is issuing a 100 mln canadian dlr eurobond due april 9 1992 paying 8 3 4 pct and priced at 100 3 4 pct lead manager wood gundy ltd said
valhi inc formed by the march 10 merger of amalgamated sugar co into llc corp said it had unaudited pro forma earnings of 72 mln dlrs or 61 cts a share for the six months ended december 31
coastal cgp hit with two billion dlr lawsuit
at the end of february broad money stood at 1771 billion dlrs up from januarys 17584 billion and compared with the previous february level of 16060 billion
at the january meeting france sided with producers on how the buffer stock should operate delegates said
ormand industries inc said its general can co inc unit has finalized all transactions needed to repay about 33 mln dlrs of past due accounts to its unsecured lenders
more us and european firms will be falling prey to japanese corporations bulging with cash and eager to extend their reach further overseas according to merger and acquisitions specialists polled by 
one analyst said ruding wanted to bring interest rates down to reduce the government debt burden
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
purolator last year topped turnover of 465 mln dollars the spokesman said
soybean production could drop fractionally from last years 20 billion bushels to 18 to 19 billion he said
tandy brands said the notes are convertible at 10 dlrs a share noting a previous announcement the price was negotiated when the companys common was trading at 775 dlrs a share
many would say that the law has already had its effect because of the dramatic drop in trade between south african and norway foreign ministry spokesman per paust told 
gatt meeting hears plea for african debt relief
lowes cos inc low 4th qtr jan 31 net
following the order he noted the unit cancelled a planned sale of preferred stock
the agriculture department must make a decision soon on how to change the current us soybean loan or more soybeans will continue to be forfeited to the government and foreign soybean production will increase the president of the american soybean association asa said
gen term corp said it entered into escrow for the 52 mln dlr purchase of lewis westco and co a privately held bottler and distributor of wines and distilled spirits
at issue are us meat exports to the ec valued at 132 mln dlrs in 1985
napco international npco 4th qtr oper net
output of chemicals and textiles fell by one pct and minerals by two pct
the new bhp utah minerals international group will be headed by jim curry as executive general manager and chief executive officer
the sec as a matter of policy routinely declines comment on its enforcement actions
exxon said earnings from refining and marketing operations rose to nearly two billion dlrs in 1986 up from 872 mln dlrs in 1985
the bonus will be paid in the form of commodities from ccc stocks
the dividend represents a 12 pct annual return based on the companys original offering price in december of 10 dlrs a share
ccc accepts export bonus on semolina to egypt
harnischfeger industries inc hph 2nd qtr net
he also said the dismantling of farm subsidies would be discussed at the summit
cooper says offer must include class a shares
a 55 mln stg convertible issue for confectioners rowntree mackintosh was well bid at 104 5 8 105 1 8 pct and expected to go well
he did not rule out a stake increase later but said siemens aim was to introduce its technology
the bank said the reduction reflected the recent downturn in money market rates the improved economic outlook and adequate liquidity in the second quarter tax rundown period
the original bid was worth about 162 billion dlrs
last paid 114 dlrs february 27 including capital gains of 50 cts
for 1986 the company reported profits of 78 mln dlrs or 116 dlrs a share on sales of 1539 mln dlrs
lyng said under market value accounting only about 700 mln dlrs of eep commodities have been used to date
qtly div four cts vs four cts pay april 3 record march 23
william reynolds said the offer is a highly conditional contingently financed bust up offer that seeks to deny shareholders the true value of their investment in gencorp
chaparral provides regularly scheduled service out of dallas fort worth regional airport as an affiliated carrier of amr corp amr and had revenues in 1986 of 141 mln dlrs
new zealands diversified investment group rainbow corp ltd bought safeway stores incs sa 20 pct holding in woolworths for 190 mln dlrs late last year
in this case the bond issued in denominations of 5000 marks will be valued at a fixed price of 4200 swiss francs or 11905 francs per 100 marks
warrington inc said it sold its shoe divisions to montreal based taurus footwear inc for undisclosed terms
martinez told reporters the price fall since the ico failed to agree export quotas on march 1 has had disastrous results on latin america both economically and politically
official figures show that china lost just under one pct of its arable land to other uses in 1985 and a slightly smaller amount last year
the bank of england said it had provided the money market with 224 mln stg help in the morning session
instinet said it expects the merger to become effective as soon as possible after shareholder approval at the special meeting
petrie stores corp pst regular payout
sphinx mining spnxfo finds gold
the unit becomes the holder of 200 mln dlrs of westpac floating rate notes
gilberto arango president of colombias exporters association speaking to earlier this week ruled out a fresh colombian initiative on export quotas saying producers had now to show a common resolve which could emerge from continuous contacts
the state showing the biggest enrollment in the conservation program during this signup was texas with approximately 1225 mln acres followed by iowa with 1030 mln acres minnesota with 890000 acres montana 875000 acres and kansas with 842000 acres
the current 55 pct prime rate has been in effect since february 28
german bank sees higher gold price for 1987
banca monte di parma issuing eurocertificates
merchant bank pierson heldring en pierson in an estimate reflecting general sentiment said last month that dutch economic growth was now seen around one pct
the conversion price is fixed at 640 pence per share representing a premium of 11 1 2 pct over yesterdays mid price close of 574 pence
the company said new york investment banking firm matthews and wright has arranged 7300000 dlrs in tax free industrial revenue bonds and 4700000 dlrs in conventional bonds
funaro said that during his recent trip to the us europe and japan to explain brazils decision last month to suspend interest payments on 68 billion dlrs of commercial debt he stressed the countrys commitment to growth
finished production in 1986 was 4565 tonnes 911 tonnes higher than the previous year and the best production achieved to date
ritterbusch said the market also found support from a report in the middle east economics survey that said that opec oil output was down to about 14 mln barrels per day in the second week of march
thomson takes over thorn emi audiovisual
clearly there will be a need to gauge the effect of other proposed share issues so as to enter the market at the best opportunity prebble said
royal resources corp rrco 2nd qtr dec 31 loss
he said the world bank would meanwhile look at investment requirements for potential export earning projects such as gold mining timber oil and kaolin
buckhorn said the years results included a 4250000 non recurring expense incurred to complete major restructuring efforts and to defend against the hostile tender offer from ropak corporation
the payment date is april 30
the refinery was forced to close at the end of january when rebels cut the main power line
in his oral evidence to parliaments select treasury committee lawson repeated that he was happy with the pounds current level adding that it is an objective to try to keep it around that level he said the perception of sterling on foreign exchanges had changed since the steep drop in oil prices largely because the pound had weathered that period so successfully
del val financial corp dvl sets payout
it would have been around five billion marks higher still if currency relationships had remained unchanged
the treasury 2 1 2 pct index linked stock due 2020 closed just under one point lower at 100 11 32 stg pct
the office of finance of the federal home loan banks announced a debt offering totalling 2135 billion dlrs consisting of three issues
no trades were reported so far
making late filings of 13d forms which disclose the amount of stock over five pct an investor has in a company or making no filing at all could indicate a scheme to warehouse shares of stock
the convertible debentures are rated b 3 by moodys investors service inc and ccc plus by standard and poors corp
prime minister yasuhiro nakasone explained the conditions during the first round of talks with the visiting polish leader wojciech jaruzelski foreign ministry sources said
tanjug said sources close to the yugoslav delegation said the initial reaction of commercial banks was favourable despite their continued insistence on technical and legal elements it said it was believed that a commercial debt rescheduling would be formally agreed in the next few weeks
montrose holding to acquire virginia federal
they told they expect the firm to show earnings of between 420 mln and 450 mln hk dlrs last year against 157 mln in 1985
but the defense department also said today that weinberger and baldrige differed on the proposed sale of us computer equipment to iran
more than 200000 were employed in the private sector pravda said without giving comparative figures
in its international weather and crop summary the agency said the moisture lessened the need for irrigation
today it reported 1986 earnings of 294650 dlrs down from 371064 dlrs a year before on revenues of 8157864 dlrs up from 7054709 dlrs
the delivery period for wheat is march 20 through september 30 1987 and for wheat flour is april 10 through september 30 1987 usda said
world bank teams studying philippine loan requests
if more financial instruments were available there might be more trades in yen he added
conable also told the gathering of mostly commericial bankers that in order for the baker debt initiative to work all parties to the program must be on board
pharmacontrol said it expects to make the payment due to revco from proceeds of a proposed offering of units consisting of convertible subordinated debenturers and common stock currently on file with the securities and exchange commission
the rate will be reset quarterly according to the formula of 2244027 minus the product of 18097 times three month libor
mizuno issuing 30 mln swiss franc five year note
reed intl denies bid approach
brazil will import 30000 barrels per day of crude oil from kuwait a spokesman for the state oil company petrobras said
api says distillate stocks off 252 mln bbls gasoline off 260000 crude off 423 mln
pharmacia ab phab st forecast earnings after financial items of one billion crowns in 1987 vs 8212 mln last year on condition that exchange rates remained at their present parities
other us banks have also warned of earnings setbacks
us soybean and cottonseed producers had argued that saturated fats cause heart disease and that the labels would discourage consumption by health conscious consumers in favour of domestic unsaturated alternatives
treasury secretary james baker predicted the us trade deficit would decline 15 20 billion dlrs this year
farmers concerned about british sugar ownership
although its lender has not enforced its right to demand payment of the debt in full it continues to reserve its right to do so at any time it said
his remarks were concerned with a comprehensive economic stimulative package the government plans to adopt in the coming days
holiday hia unit sells notes and debentures
cie financiere de paribas paripa 1986 year
portugal has contracted a six year 150 mln ecu loan from a group of foreign banks led by daiwa europe ltd to finance investment projects the finance ministry said
parent shr loss 1585 yen vs profit 202 interim div nil vs nil net loss 1292 billion vs profit 165 billion current loss 1252 billion vs profit 444 billion operating loss 876 billion vs profit 652 billion sales 44390 billion vs 52803 billion outstanding shrs 81510 mln vs 81497 mln
coffee price fall short term dutch roasters
baker said the argentine loan was really the only one you can point to and criticize last year the republican controlled senate voted three times over the objections of the administration to cut us funding of development banks by the amount of these loans
the central bank charged with supervision of commercial banks has previously issued only finance ministry bonds
3m mmm acquires control data cda unit
utilization for the week of march 28 was 787 pct and for the week of march 21 was was 778 pct
mesa royalty trust mrt said unit holders of record march 31 will receive a distribution amounting to 55192 dlrs or 296 cts per unit payable april 30
peru will put into effect monday a foreign exchange rationing system for imports designed to stop a slide in the countrys international reserves a government decree in the official gazette said
sarneys decision means that brazilian importers of machinery and industrial equipment can buy dollar currency in the parallel market without having to wait for the issuing of an official order from the banco do brasils foreign trade department cacex sarney also announced measures to boost exports in an effort to strengthen the countrys trade balance and alleviate the risk of a reduction of foreign loans for this sector of the economy
emery said the offer is also subject to completion of the previously announced sale of purolators canadian operations
us grain trade calls shultz remark significant
however with the ec budget stretched to breaking point this could give treasury ministers extra resolve in resisting higher guaranteed sugar prices and build a case for a future cut in the basic a and b quotas they added
consumer spokesman peter baron called the tone of the negotiations optimistic and realistic the icco council failed to agree on buffer stock rules when a new international cocoa agreement came into force in january with deep differences of opinion precluding serious discussions on the matter at that time
abes visit is to prepare for prime minister yasuhiro nakasones talks with president ronald reagan later this month
mexico hit by a catastrophic earthquake and declines in world oil prices also boosted its non oil exports by one third in 1986 the highest growth rate in its post war history
the remaining gold is taken either from us treasury stocks or from the open market pope said
we will be looking at ways of strengthening it but i do not want to discuss that here
in february the cost of living in west germany rose 01 pct from january to stand 05 pct lower than in february 1986
the debentures have an 8 7 8 pct coupon and were priced at 99726 to yield 135 basis points over the off the run 9 1 4 pct treasury bonds of 2016
park electrochemical corp pke sets payout
however us sources said west germanys support was at times qualified and there is some concern that the european community could come under pressure to be more accommodative to producers in future talks
english denied the allegations
australia the largest beef supplier to japan has been trying to boost exports prior to the expiry of a four year beef accord next march 31
sterling rebounded on the trade figures reversing a weaker morning trend to stand at 721 pct of its trade weighted index against a basket of currencies at midday unchanged from yesterdays close but 03 points above the 1100 gmt level
the bank of italy took up a total 4200 billion lire of the remaining six and 12 month paper leaving 1118 billion lire unassigned
citicorp said if dixons accepted the proposal cyacq would terminate its competing 9250 dlr offer for cyclops
united medical um to sell unit
shearson stressed however that the spread over the commercial paper index to be paid by an issuing bank will be determined by investor demand
europe 940 500 500 500 ussr 24327 25438 nil nil japan 27674 27878 524 210 china 4950 5550 nil nil taiwan 7910 8360 3900 1700 other asia and oceania 7217 6152 2500 nil africa 1250 1955 nil nil westhem 10505 11140 294 276 upland cotton in thousand bales 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 2609 2661 979 950 other west europe 622 662 87 87 e
ic industries icx may sell aerospace unit
unlike current debt equity schemes ongpin said the pins would include no government fees and would be free from administrative hassles he said about six investment banks had been approached and four had replied so far
keycorp key 3rd qtr net
strip mill plate prices will rise by 3 4 cts per pound
weston inc wstna offering of 30 mln dlrs of convertible subordinated debentures due april 15 2002 through drexel burnham lambert inc
italys bnl to issue 120 mln dlr convertible bond
ministry officials said the cwe can either import sugar or buy it from a local bonded warehousing scheme run by edf for the past two years
i do not want it to become uncompetitive because then we are dead monsod said the ideal movement in the peso dollar rate is a movement that will reflect differences in inflation rates of the philippines versus the other country
the half yearly report said exports increased about 30 pct in july december 1986 while imports rose by only six pct during the period
shr loss 463 vs loss 243 net loss 60780000 vs loss 28898000 rev 4997 mln vs 4321 mln note 1986 net includes loss of 499 mln dlrs for restructuring charges
the bond will have a maturity of 10 years with repayment in the second five year period in equal yearly instalments
levon previously reported the zone averaged 0226 ounces of gold a ton over a 40 foot section with average width of 516 feet
mco holdings inc said its shareholders and those of maxxam group inc have approved the proposed merger of the two companies
philips dupont unit arranges 145 mln dlr credit
they back recent statements by opec ministers that the group is producing within its ceiling to support the return to a fixed price system which came into effect last month
evergreen has placed newbuilding orders for three 3428 teu twenty foot equivalent unit fully cellular container ships with the state owned china shipbuilding corp for delivery in late 1988
the company which went public dec 23 also said it expects to be able to fill back orders from the first two quarters because of improved supply of computer chip components
qtly div 415 cts vs 415 cts prior pay april 28 record march 31
the fact that brazilian coffee institute president jorio dauster assistant us trade representative jon rosenbaum and chief colombian delegate jorge cardenas are not attending the meeting has signalled to most market watchers that it will be a non event as far as negotiating quotas is concerned
the analysts said speculation the government is considering a reflationary program was sparked by chirac spokesman denis baudouin who said yesterday that ministers were generally agreed on the desirability of relaunching the economy
when people in this country get an increase in disposable income the inclination is to go out and spend it he said
marks work wearhouse mwwto 1st qtr loss
soybean production for 1986 87 is now estimated to reach between 77 and eight mln tonnes versus 78 to 82 mln tonnes estimated a week ago and eight to 84 mln tonnes estimated in mid february
the agency said rainfall during february was near to above normal in most areas but earlier periods of hot dry weather reduced yield prospects in parts of the northern transvaal and southern orange free state
nobels bofors to sell its singapore holding
privately some bank officials forecast the bank will hold out at least for this week but at least one bank says a rise is possible tomorrow
miyazawa told the japanese reporters the us unit fell because japanese investors sold dollars to hedge currency risks before the close of the 1986 87 fiscal year on march 31
they will be aided in 1987 by an expected slight rise in economic growth in industrial countries
joskes is the largest unit allied has slated for sale in its restructuring
shr 17 cts vs 37 cts net 1783000 vs 4028000 nine mths shr 52 cts vs 103 dlrs net 5587000 vs 111 mln
blizzard conditions halted shipping through the bosphorus waterway and piled snow up to 70 cms deep in central istanbul paralysing the city for the second day running
as part of its contribution japan plans in april to fundamentally improve its generalised system of preferences for industrial and mining products to make japans domestic market more open to developing countries he said
the dollar drifted down to end one pfennig lower after a lacklustre session held in limits by the lack of concrete news from the group of seven meeting and comments on the edge of the washington imf world bank meeting
there were no bids or offers for milo
harcourt brace hbj calls special meeting
the company said it plans to complete the sales which are subject to various regulatory approvals by the end of july
first federal delaware agreement extended
search for british ferrys toxic cargo continues
the company had said the offer was inadequate and that it was exploring restructuring or sale of the company to another party
gennady gerasimov chief of the soviet foreign ministrys information directorate told reporters the agreement had been reached during a visit to moscow last week by irans oil minister gholamreza aqazadeh
det oestasiatiske kompagni a s east asiatic co 
home shopping network inc said its silver king broadcasting co inc unit entered a definitive contract to buy the broadcasting assets of tv station kwvt channel 22 in the portland salem ore
the construction bank which is one of four specialist banks in china focuses on infrastructure and heavy industrial projects
the loan is for 15 years with 4 1 2 years grace at a variable interest rate
but no other bid has yet emerged
shr 66 cts vs 55 cts net 2422000 vs 1906000 revs 593 mln vs 474 mln
moodys may downgrade british petroleum and standard oil
the biggest output rises in the 12 months to end january were 2368 pct in pharmaceuticals and 2212 pct in machinery
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
the yield on the bills for sales to banks and securities houses from money houses will be 39495 pct against the 39375 pct discount rate for one month commercial bills and the 458 42 pct yield on one month certificates of deposit today
i think theyll probably try to hang onto encor as long as they can said bache securities inc analyst doug weber
royal bank of canada 1st qtr shr 88 cts vs 122 dlrs
a bp statement said its cut came as a result of a price review occasioned by substantial changes in the lpg market bp last lowered its posted propane price from 175 dlrs a tonne on march 1 and shell uk s last change was from 113 dlrs may 1
under the terms of the option agreement ansett would have the right to maintain its 20 pct position in the event of future stock sales but could not go beyond 20 pct unless so requested by america west abeles said
institutional investors are expected to sell the dollar aggressively if it rises to around 14350 yen dealers said
oper shr loss 19 cts vs loss 38 cts oper net loss 239000 dlrs vs loss 476000 dlrs revs 160 mln vs 146 mln
us sectors consumer goods 25 mln stg vs 20 mln building products 29 mln vs 25 mln food seven mln vs two mln businesses owned in 1986 and sold during 1987 nil vs nine mln
green mountain power corp gmp sets quarterly
shr 19 cts vs seven cts net 936000 vs 351000 revs 1533 mln vs 145 mln
cyclops corp said its board rejected a request by cyacq corp an investor group for more non public information about cyclops a maker of specialty steels and an electronics retailer
it also said it has undergone a restructuring of its management and is instituting further staff reductions
us treasury official sees latin debt progress
the federal states holdings fell 26 billion to 24 billion
the merged banks would have assets in excess of 25 billion dlrs and be one of the 25 largest banks in the us norstar operates in most of new york state but not in new york city
the unit had 1986 sales of 65 mln dlrs
exxon xon south african unit acquired by zenex
on january 23 jones and vining said its board had recommended that shareholders aprove a management buyout at 450 dlrs a share
president reagan formally ended preferential duty free trade treatment for exports from nicaragua romania and paraguay under the generalized system of preferences gsp he took the action after determining that the three countries are not taking steps to give their workers internationally recognized rights
the dhaka meeting would also discuss the possibility of setting up a south bank along the lines of the asian development bank to boost financial exchanges and economic coperation between developing countries
theres a whole lot more rich guys who sell cars than that make cars he says
it said quest blood expects to complete the merger within the next several weeks
galveston resources ltd said it agreed in principle for an option to earn up to a 50 pct interest from hemlo gold mines inc in certain mining properties known as the interlake property subject to regulatory approvals
news of an agreement among g 5 and g 7 finance ministers meeting in washington this week will be key to the direction of currency futures at the international monetary market but any such agreement will need to go beyond the paris accord to stem the recent rise in futures financial analysts said
oesterreichische laenderbank ag olbvvi 1986
purolator lost 120 mln dlrs over the last two years largely due to us courier operations which we believe the management is turning around
the bank of japan bought a small amount of dollars shortly after the opening at around 14530 yen dealers said
kansas oilman nicholas powell told the securities and exchange commission he has acquired 195000 shares of qed exploration inc or 87 pct of the total outstanding common stock
the company is the successor to baldwin united corp
larives second offer to acquire it because the bid was inadeuqate and subject to too many contingencies
the plants will be closed for a week starting april six for inventory adjustment
baybanks inc bbnk 1st qtr net
trans lux corp said its board declared a five pct stock dividend payable april nine to holders of record march 20
the notes will be issued by its iel finance ltd unit
pldt reported 1986 net income of 189 billion pesos up 68 pct from 7789 mln pesos in 1985 on operating revenues of six billion pesos up from 47 billion pesos in 1985
analysts said they also expect crude oil stocks to build between 15 mln barrels and three mln from the 325 mln barrels reported by api for the week of may 22
noting that our tender offer is definitely in place the aide said the investors are prohibited by securities and exchange commission regulations from exercising options as long as a tender offer is open
he said president reagan will veto any bill that contains serious flaws and i believe that veto would be sustained
sales for the nine months were 139 billion dlrs up from 126 billion dlrs in the same 1986 period
orders exclude 2536 mln dlrs acquired with syscon acquisition
he repeated the central bank will intervene if necessary adding he did not think a dollar free fall was likely
bills maturing in official hands and the treasury bill take up would drain 121 billion stg from the system while a rise in the note circulation and below target bankers balances would take out 265 mln and 180 mln respectively the bank said
october shipments were back to contractual volumes as saudi was able to boost exports from other ports
mercer said about seven companies are interested in buying celeron and they may form a consortium to buy the unit
liberty financial group lfg regular dividend
the indian state trading corporation purchased 46000 tonnes of vegetable oils at its import tender on friday market sources said
snyder
in the three months from december to february the level of sales was little changed over the previous three months but was nearly six pct higher than the same year ago period
the issue also featured a call option after four years at 102 falling to 101 1 2 after five and by a half point each year thereafter
alcan new zealand shareholders who accept the offer would also receive the final dividend of 10 cents a share normally payable on may 27
pancanadian to sell north sea properties unit to whitehall for cash
tigrel whose department produces the annual programme which is central to the governments economic planning said turkeys creditworthiness was at risk over the current account shortfall originally targeted at 695 mln dlrs
the junior subordinated discount debentures to be issued in the merger will carry a 13 pct coupon and will begin paying cash interest after five years
the second domino is the union
the caisse said it acquired 825 mln of new government of quebec bonds and 342 mln dlrs of new securities from other quebec government issuers during the year
the possibility of an expansion of eep to include wheat to moscow has been rumored for some time and some industry sources believe a decision on the issue will be made by the reagan administration before secretary of state george shultz goes to moscow in april
van der vorm said that if strikes continued on todays scale for some time vessels coming to unload grain in rotterdam would face delays but this was not happening yet
s p upgrades iowa illinois gas iwg preferred
the experts gathering ahead of an itto meeting of consumers and producers near tokyo next week said the problem is already acute
the sugar import quota for the 1987 quota year january december has been set at 1001430 short tons compared with 1850000 tons in the 1986 quota year which was extended three months to december 31
police were called but the fighting had ended by the time they arrived
the vessel subsequently arrived at its destination of ras tanura on may 25 and left this morning
the monthly rise in the all items index base 1980 was 109 pct to 2510 in february after a 14 pct increase to 2483 in january
the decrease brings the companys posted price for the benchmark grade edmonton swann hills light sweet to 2226 canadian dlrs a bbl
fritz leutwiler chairman of bbc ag brown boveri und cie and a former swiss national bank president urged the national bank to declare its intent of achieving a rising rate for the mark against the swiss franc
cambrian officials were not immediately available for further comment on todays statement
the us feedgrains council is surprised and disappointed by the canadian import tribunals decision that imports of corn from the us are materially injuring canadian corn producers a council spokesman said
soros group tells sec it may buy up to 499 pct of fairchild industries
bank of japan governor satoshi sumita said a further yen rise would have adverse effects on the japanese economy
the kingdom of belgium is issuing 100 mln swiss francs of 10 year bullet notes with a 4 3 4 pct coupon and 100 3 4 issue price lead manager kredietbank suisse sa said
however as one dealer noted the market is still unsettled overnight funds bid at 20 pct at the outset of business traded up to 30 pct before easing as liquidity dragged offers down to 10 pct by the close
ina is jointly prospecting with the us firm conoco for oil and gas there
the central bank has to go in this direction said su han min chief economist with the international commercial bank of china
qtly div five cts vs na payable april two record march 20 note1986 dividend includes special two cts per share for the period beginning with the funds commencement of operations on novebmer three through december 31 1986
oper shr profit 63 cts vs loss 115 dlrs oper net profit 6629000 vs loss 124 mln revs 236 mln vs 224 mln year oper shr profit 165 dlrs vs loss 128 dlrs oper net profit 175 mln vs loss 138 mln revs 931 mln vs 868 mln note oper data does not include loss from discontinued operations of 7932000 dlrs or 73 cts per shr in 4th qtr 1985 loss of 405 mln dlrs or 383 dlrs per shr in the 1986 year or gain of 1043 mln dlrs or 968 dlrs per shr in 1985
there has been growing concern that rising internal prices triggered by heavy exports were creating areas of shortage in interior markets
herrington said i would like to shoot for one mln barrels a day addition to us production us oil output was off to 84 mln bpd in the week of march 13 down six pct from last year the american petroleum institute said
at the same time traders who are holding stocks and bonds saw the value of their investments falling and many are turning to commodities such as precious metals as a hedge said marty mcneill a metals analyst in new york with the trading house of dominick and dominick
bank of japan to sell 800 billion yen in bills
usx x unit raises some steel prices
the company said lane will become an independent dealter for the company in certain midwestern states
kraft kra sees higher capital spending
lawson said that in future traders registered for value added tax vat would be able to choose to account for the tax on the basis of cash paid and received
other extraordinary items were 633 mln dlrs provided for closures and writedown of assets and a 141 mln increase in future tax provisions cra said
fuller was formerly president of mr
nbi inc nbi 1st qtr loss
the market was surprised that the fed showed its face so soon said marine midland nas oneill
paxar corp paks makes acquisition
ruiz ligero attributed this drop to a lack of demand in developing countries and a rally in domestic consumer demand which rose six pct last year after 19 pct in 1985
sales rose to 108 billion dlrs from 101 billion dlrs a year earlier
she said the surplus of 597 mln pesos compared with a deficit of 390 mln pesos a month earlier and a deficit of 164 billion at the end of 1985 reflected political uncertainty in the last quarter of 1986
revenues increased by 20 pct to 118 mln dlrs from year earlier 98 mln dlrs
reph acquisition co said its board appointed a special committee to negotiate the terms of an offer made earlier today by pesch and co to merge with its republic health corp reph unit
the company said a hearing on the adequacy of the associated disclosure plan is scheduled for april nine and completion of the plan is subject to approval by creditors equity security holders and the bankruptcy court
this action relates both to loans to companies directly involved in energy as well as loans to real estate developers home builders and financial institutions in the southwestern united states barnes said
the french and german operators involved would be able to withdraw the offers up to five weeks after april 1 when the sugar will officially enter intervention stores
inspeech insp buys norma bork bork medical
kato declined to give any details
geodome said operating costs of the mine will average 201 dlr per ounce of gold for the mine life and 171 dlrs for the first three years in constant dollars
i expect exports will be a bit more maybe 330000 tonnes but not above that he said
if the deal goes ahead the statement said amc shareholders other than renault will receive chrysler shares for each of their shares valued at four dlrs
sigmaform corp sgma 3rd qtr jan 31 net
that is 53 basis points more than the yield of comparable treasury securities
also the recipient countries would have to prove that the production marketing and export of the commodities could be handled without government subsidy
he and other analysts said while the better than expected m0 figures alone would not be sufficient to trigger a new interest rate cut they removed an obstacle to such a move
this includes provision in latest quarter of 122 mln dlrs for closing of almys department store co
the dutch central bank announced new eleven day special advances at an unchanged 53 pct to aid money market liquidity covering the period march 9 to 20
security pacific corp and users inc a credit union data processing concern said they have mutually agreed to withdraw from further merger negotiations
oil traditionally accounts for up to two thirds of ecuadors total exports and as much as 60 pct of government revenues
shr loss 12 cts vs loss 17 cts net loss 484556 vs loss 620607 sales 2167631 vs 1062837 avg shrs 3985924 vs 3935969 year shr loss 62 cts vs loss 52 cts net loss 2468605 vs loss 1788406 sales 6603285 vs 4650585 avg shrs 3983692 vs 3446348
southwest currently has 123 mln shares outstanding
bonn confident of maintaining currency stability
norstar carries aa senior debt aa minus subordinated debt a plus preferred stock and a 1 plus paper
at present only about one third of the countrys 26 mln jobless corresponding to 109 pct of the workforce receive unemployment benefit
the aggregate value of the distribution is 9758 mln dlrs
these decisions on the merger were made in consideration of japans economic conditions and legal systems
ps indiana pin to redeem double digit debt
harahap said it was better to import to cover a temporary shortage than to lose export markets
union pacific said the partnership called champlin refining co will acquire the refining and distribution system owned and operated by union pacifics champlin petroleum co subsidiary
wilbur was not immediately available for comment
under the proposal carter hawley would split into a specialty store company and a department store company
it expects gnp growth for the whole of 1987 of just under two pct after a 24 pct rise in 1986
rhodes said in a statement that the parties are expected to discuss brazils economic plans and interim arrangements he did not elaborate further
what i do know is that community exporters are making a hell of an effort in this market
the agency said the stock would have to be held in a voting trust controlled by an independent trustee
tonka tka sees lower fiscal first quarter net
the bank of england was strongly rumored to have intervened on behalf of the dollar against the yen yesterday but it gave no confirmation
unlike its earlier proposal merrill lynch said borg warner management was asked not to take part in the new deal and it was conditioned upon payment of the fees
period ended feb 28 shr 61 cts vs 56 cts net 2764000 vs 2540000 sales 604 mln vs 558 mln six mths shr 127 dlrs vs 115 dlrs net 5741000 vs 5269000 sales 1228 mln vs 1099 mln note per share data restated for 10 pct stock dividends paid to holders of record dec 26 1986 and dec 26 1985
bolivian miners call general strike
the amc purchase shows a strongly aggressive move on chryslers part to increase market share at a time when industry competition is intensely competitive s and p said
the meeting at this north island tourist resort is described by participants as informal and no declaration is expected
it said the feasibility study calls for gold production averaging 41000 ounces a year for the life of the mine and 50000 ounces a year over the first three years with 99000 ounces of silver per year being produced over the mine life
the proposal showed that collaterals and guarantees would not be recognised in calculating credit equivalent amounts
kouame will succeed dr
cuevas said employers were also worried about the trend in spains foreign trade balance
officials blame the high 1986 gnp growth on a surge in domestic demand stemming partly from poorly controlled municipal expenditures in the early part of the year
i have nothing in my briefcase except an explanation of the current situation kuroda told the daily newspaper asahi shimbun
iraq blames iran for the outbreak of hostilities which have entailed world war i style infantry attacks resulting in horrific casualties
four of japans six major heavy machinery and shipbuilding companies reported current deficits in the first half of the year to march 31 and five of them are expected to report current deficits for the whole of 1986 7 they said
legal drafting of provisions will start next week and formal adoption of the new accord by the 40 countries taking part in the conference is expected to take place on march 20
new dutch advances total 41 billion guilders
basically the ruling wants to limit the tax credit a bank can claim for tax withheld by foreign governments on loan interest payments
bankamerica originally acquired schwab in 1983 for 57 mln dlrs worth of bankamerica common stock
urban said the main problem with his countrys foreign debt burden of 32 billion dollars was short term interest charges but the long term looked more secure
opec conference president rilwanu lukman who is nigerias oil minister said friday he expects the meeting in vienna to be brief and calm and that opecs current price and production agreement may only need a slight review
but dealers said the bundesbank was unlikely to ease credit policies at the moment
americus trust for bristol myers shares announced an initial dividend of 6875 cts payable may 12 for shareholders of record april 3
after januarys rise the government was forced to revise its inflation target for 1987 to 25 pct year on year from an initial target of two pct after 21 pct in 1986
utilicorp united inc said it completed the acquisition of west virginia power from dominion resources for about 21 mln dlrs
the issue will be priced to have a conversion premium of 22 to 25 pct with final terms to be set on monday april 6
shr profit four cts vs profit three cts net profit 64197 vs profit 56437 revs 49 mln vs 16 mln six months shr profit four vs loss seven cts net profit 67133 vs loss 114427 revs 91 mln vs 28 mln note1987 first half includes revnues of new racetrack operation
el paso electric said it reached a stipulated settlement on its new mexico rates with several parties including the state of the new mexico public service commission which provides for rate treatment of the utilitys investment in the palo verde nuclear generating station located near phoenix ariz
the treasury department said it notified the netherlands that it was terminating the 1948 income tax treaty as it applies to the netherlands antilles and aruba
seixas director of the brazilian central banks foreign debt department met the full panel on tuesday and wednesday
tm communications inc said it has completed the acquisition of radio station knss fm of reno nev for about 2500000 dlrs in cash
the company said it paid a total of about 363 mln dlrs to producers through februry one out of its 550 mln dlr reserve to settle the take or pay disputes
the figures show stocks at end february of 249 mln tonnes raw value against 233 mln a year earlier
gem managing director pieter van der vorm said the facilities were 40 pct operational
the sale is for cash and notes but exact terms were not disclosed
this offer disproves the constant derogation of the sourthern pacific by sfsp management best exemplified by sfsp chief executive john schmidts comment in icc hearings that the southern pacific was bankrupt said rowland
the treasury accepted 66 billion dlrs including 19 billion dlrs from the fed and 942 mln dlrs from foreign and international authorities
given normal weather conditions this year usda analysts said the 1987 corn crop could end up around seven billion bushels down from last years crop of 83 billion bushels
the other three institutes however wrote the decline in demand and production seen in the winter months does not indicate the beginning of a cyclical downswing they said the sharp rise of the mark had led to corporate uncertainty and companies had not carried out investment plans
the superintendency of banks and the technical and judicial police have both begun probes of cambio la guiara azpurua said on friday night
the bank said m 2 which measures notes and coins in circulation plus bank and post office deposit accounts fell to a provisional 609457 billion lire in january from a downwards revised but still provisional 615307 billion in december 1986
we have an open position regarding nigeria the sources said adding that it was for french finance minister edouard balladur to decide whether to renew full insurance cover
in addition west germany said it would veto plans for cereal price cuts and for a change in the green currency system
the agriculture committee tomorrow will begin drafting amendments to an omnibus trade bill now before the house
i dont know how the report was originated i cannot comment the spokesman at jardines london office said when asked to react to a report in the daily telegraph newspaper
us commercial banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan us bank officials said
national average prices for farmer owned reserve
they said the plan could raise more than 25 billion francs in revenue over the next five years according to verhofstadts projections helping the government to reduce its huge budget deficit targetted this year at 418 billion francs
us senator uncommitted on offering 0 92 bill
cominco ltd said no talks were scheduled with striking workers at its trail smelter and kimberley british columbia lead zinc mine
white house welcomes retail sales figures
that presupposes however that our industrial environment does not worsen he said alusuisse would no longer face the burden of past losses
moodys investors service inc said it may downgrade the debt of afg industries inc and gencorp inc
if debt restructuring talks between brazil and its creditor banks are not completed by the end of the third quarter the company estimated brazils action would reduce its net income for the year by about 22 mln dlrs
cheetham last traded at 310 dlrs
wedge said it believes that some form of restructuring of ami and its business would be highly desirable and appropriate at this time wedge which holds 48 mln shares of ami common stock said it plans to hold further talks with company management pesch and other shareholders
the company said in a statement that immediately following the acquisition of the motor group its car and commercial vehicle contract hire fleet of some 3000 vehicles was sold to lex vehicle leasing ltd for 143 mln stg in cash a sum equal to the net book value of the vehicles transferred
instead he argues banks should either be required to hold a percentage of the face value say one pct per year to maturity or to hold a percentage of the cost of replacing the contract in the event of a counterparty default
among the main factors maturing assistance and take up of treasury bills will drain 546 mln stg bills for repurchase by the market 76 mln a rise in note circulation 310 mln and bankers balances below target 105 mln
shr 43 cts vs 63 cts net 16362000 vs 24325000 revs 5893 mln vs 5491 mln nine mths shr 140 dlrs vs 173 dlrs net 54011000 66591000 revs 168 158 billion
taiwan trade surplus widens in first quarter
sales tax hurt canadian profits on confectionery operations and the company faced strong competition in the uk snack and mid east export markets
1987 net reflects three for one stock split in 2nd qtr and issue of 15 mln subordinate voting shares in 1st qtr
loans extended by finance companies rose to 477 billion dlrs from 474 billion in december and against 534 billion in january last year while deposits placed with them dropped to 468 billion against 489 and 479 billion
rainbow announced earlier that it had increased its stake in progressive to 52 pct from 44 pct through the purchase of 94 mln shares at between 380 and 480 nz dlrs per share
the japanese daily asahi shimbun said today that ibj and three other banks plan to abandon a total of 16 billion yen in loans to japan line and a group of creditor banks plans to buy seven billion yen of new japan line shares
canadian money supply m 1 fell 430 mln dlrs in week bank of canada said
fitzwater said the administration did not endorse remarks by white house budget chief james miller who said he was concerned the federal reserve might overreact to the decline in the value of the us dollar by raising interest rates
shareholders wondering whether to tender either to the tractebel consortium or to the rival 700p per share partial offer from shv holdings nv should consult professional advisers
corby distilleries ltd 52 pct owned by allied lyons plc alldl subsidiary hiram walker goodman amp worts is to buy the spirits business of mcguinness distillers ltd of toronto for 45 mln canadian dlrs
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
period ended august 31
for opec to stabilize the world oil price at what is now considered the optimal level of 18 dlrs a barrel its member countries have had to undergo severe hardship in curtailing production al wattari said
the central bank said that figures for private bank reserves and registered capital movements were provisional and there was no estimate yet of unregistered movements
mine and industry officials from most member states of the association of tin producing countries atpc say they have found ways to limit group exports to 96000 tonnes in the year started march 1 according to views polled by correspondents
the following proposed securities offerings were filed recently with the securities and exchange commission bank of new england bkne offering of 200 mln dlrs of subordinated capital notes due 1999 through an underwriting group led by morgan stanley and co inc
royal trust canadas second largest trust company with assets of about 1954 billion canadian dlrs has operated internationally since 1929 when it opened a london bank
payment date is april 30 and there is a long first coupon
bohn said the bank would focus on the needs of the middle market product or service exporter and would have essentially one loan program and one guarantee program for both medium term and long term export transactions
includes pretax gain from sale of common stock in guaranty national corp of 5722000 for year
the taiwan dollar has strengthened by some 16 pct against the us unit since september 1985 and some bankers and economists said it could appreciate to 32 to the us dollar by the end of the year from 3423 today yao said
terms were not disclosed
last year it earned 372 dlrs a share
poehl has had to switch to the hard line promoted by his deputy helmut schlesinger jacking up interest rates to fight inflationary fears and abandoning the pragmatic policies he had pursued so far this year to promote currency stability
shr profit seven cts vs loss 24 cts net profit 151000 vs loss 523000 12 mths shrs loss 170 dlrs vs loss 44 cts net loss 3670000 vs loss 947000 assets 997 mln vs 1026 mln deposits 911 mln vs 906 mln loans 443 mln vs 517 mln
all paris club agreements contain a generally accepted outline for a rescheduling but the specific terms must then be negotiated on a bilateral basis
he said that before the announcement of the suspension of interest payment brazil was paying about 500 mln dlrs a month to its commercial foreign creditors
the company said it will change its name to hercules engines inc and stewart will be the majority interest owner as well as the president and chief executive officer
algeria buys 75000 tonnes eep wheat trade
a lasting stability in the world market requires a wider scope of international cooperation he said
ministers failed yesterday to overcome the problem and resumed negotiations in a bid to finalise the details before starting the price review which is confidently predicted to last many months
foreign exchange fluctuations in 1986 were a very significant factor behind developments in the result before and after tax novo said in a statement
twa twa to refile with us agency
we are seeking a negotiation that will give the country space to grow because only with growth will we be able to meet our commitments gros said
leucadia national corp luk 4th qtr net
asked by an analyst about the recent recommendation by the us department of justice which would allow the bell operating companies to offer limited long distance services guinn said the company would likely shy away from that type of expansion
the us appears to have lost sight of the us asean memorandum of understanding the chamber said
the announcement of the meeting also attended by bundesbank president karl otto poehl was made simultaneously in bonn and washington timed for after the closure of new york markets
this week hughes seemed to back out of the merger but then said it was still interested in talking
fed sets one billion dlr customer repurchase fed says
royal gold rgldo agrees to make acquisition
bronstein president of cap mortgage and robert fox president of fox properties inc
but the japanese remain doubtful about the short or even medium term prospects of totally transforming their economic habits
final 50 50 corn certs seen at 16 billion dlrs
martell was also skeptical of a soviet claim for a 1986 grain harvest of 210 mln tonnes and said the chernobyl accident may have contaminated more grain than originally thought and have to be made up with imports
the company appears to have positioned its steel segment for a return to profit by late 1987 moodys added
lilco revises 1986 net to include 16 mln dlr loss provision
the reform of economic regulation had gathered momentum and there was an impressive performance in a five point government program for rural uplift education and poverty alleviation said the survey
dresdner shares surged to open 1050 marks higher at 31950 before climbing further
its industrial division with assets of about 90 mln stg including debt is being reviewed and parts may be sold
based on preliminary results the company said net income rose to about 24 mln dlrs or 96 cts a share from 174 mln dlrs or 70 cts a share in 1986s initial three months
this resulted in falling utilisation rates at big modenised mills
the company said the sales proceeds will be partly used to reduce debt
virco manufacturing corp vir 4th qtr net
mobil corp chairman allen e
lyng who plans to be in japan april 14 27 said he will not ask tokyo to liberalize fully its rice market
michael armacost under secretary of state for political affairs was asked at a press conference whether japans moves to boost its domestic economy and open its markets could persuade the us not to impose tariffs on japanese imports said and replied it is probably too early for the figures to demonstrate that the situation has turned around and to permit the result you have described armacost said the us hopes japan will take steps to lift its domestic economy and reduce dependence on exports remove barriers to imports and settle outstanding trade issues
moodys affirms chrysler c and unit
first toronto an investment bank also said it planned to grant directors an option expiring march 1 1992 to acquire up to 500000 first toronto common shares at five dlrs each
becor western gets offer to be acquired by new group for 1550 dlrs share
proceeds of the sale will be used to reduce debt
finally looking ahead melzer pointed out the potential for a further rise in inflationary expectations
goldman sachs sells signet sbk unit notes
nippon steel invests 8 mln dlrs in gtx corp
shr 28 cts vs nil net 3614000 vs 7000 revs 375 mln vs 7835000 year shr 13 cts vs nil net 1601000 vs 30000 revs 1455 mln vs 51 mln note per share amounts are after payment of preferred stock dividends
comex raises margins for silver futures
first boston gave the issue a 690 pct coupon and priced it at 998125 to yield 695 pct or 65 basis points over comparable treasury securities
japan tankoku yields hit record low at auction
it is only reasonable to ask the nations that have denied us access to open up in return for continued freedom in the american market he added
terms were not disclosed usa network said
the boards review is continuing with the companys independent legal and financial advisers american motors said in a statement issued from new york
finnish export credit ltd issued bonds for 450 mln danish crowns in three bullet tranches each of 150 mln crowns an official at joint lead manager copenhagen handelsbank a s told 
usda later today releases its first estimate of 1987 us sugarbeet plantings in the prospective plantings report
moodys cited concerns over the asset quality of standard chartered bank
one official said egypt would propose a new exchange rate for trade with the soviet union
the ministry has also suggested that foreign shareholders not hold managerial positions in the new firm
it said the facility which is half underwritten and half non underwritten has been over subscribed and underwriters allocations are reduced from the original commitments
suburban bancorp subba unit wins judgment
it said both countries faced heavy debt service obligations and low per capita income adding the solution of the countries debt problems would take a number of years
but the situation bears careful watching over the next six weeks and will ultimately impact the soviet grain supply and future buying plans analysts of the soviet union said
world vanadium production capacity is still believed to be adequate to cater for any foreseeable demand it added
gordon said his positive opinion on jp morgan and bankers trust was not merely a response to the fact that the two have lower exposure to brazilian loans than other banks
canrad inc said it acquired the measurement systems division of page wilson corp for an undisclosed amount of cash
drilling increases were reported by michigan up by five rigs and ohio and pennsylvania which each rose by three
nbc also said any daily hires would be represented by the union and would be phased in at four pct of regular staff in the first year of a contract and six percent afterward
the japanese ambassador to the us suggested that prime minister yasuhiro nakasone make efforts to present advanced proposals on trade issues when he visits washington next month
the non callable bond is guaranteed by mutual life insurance co of the us and is available in denominations of 5000 dlrs and will be listed in luxembourg
their ideas are due to be unveiled when finance ministers hold an informal meeting in belgium early next month
taiwans foreign exchange reserves now total 53 billion dlrs
the company said june 29 will be the record date for the meeting
since the government was unlikely to cut expenditure as a percentage of gross domestic product a major tax increase was probably unavoidable bayliss said
hollinger inc said 58 pct owned the daily telegraph plc of london agreed to form a joint venture printing company in manchester england with news international plc financial terms were undisclosed
the expansion program is expected to cost a total 54 mln dlrs
analyst alan gottesman of lf rothschild unterberg towbin inc said the bass group has been increasing its stake in the belief the company would be worth more with a change in its strategy
austec international ltd said its north american unit austec inc completed the purchase of privately held ryan mcfarland corp for an undisclosed sum
harper and row has granted new corp an option to buy up to 800000 new shares or a 154 pct interest at 65 dlrs each
harris teeter properties inc htp sets payout
there have been acquisitions in this area
he added the attractiveness of participation shares could be increased by limiting the combination possibilities of terms and conditions and increasing safeguards for investors
the organization also urged lyng to authorize deficiency payments to farmers who were unable to plant 1987 winter wheat because of adverse weather
we can process fresh coconut without drying the meat in the sun
a technical team from the imf is currently in caracas gathering data for its annual report on the venezuelan economy the finance minstry said
the company previously said it expects to detail the plan to lenders early next week
the taiwan dollar opened at 3109 to the us dollar today unchanged from yesterday
the official industrial growth target this year is seven pct down from an actual 92 pct last year
us treasury market ends sharply higher
this implies the possibility of a share buyback or significant dividend increase or a stock split he said
oper shr one ct vs two cts oper net 30000 vs 62000 revs 2315000 vs 2355000 year oper shr four cts vs nine cts oper net 95000 vs 204000 revs 9214000 vs 9950000 avg shrs 2492000 vs 2351000 note full name is arden international kitchens inc more
hokkaido takushoku convertible eurobond coupon cut
todays dollar convertible eurobond for federal realty investment trust has been increased to 100 mln dlrs from the initial 75 mln lead manager salomon brothers international said
lukman put the overall opec output shortfall in february at 900000 bpd and said this was as a result of their firm determination to defend official selling prices of 18 dlrs agreed upon last december in geneva
it said the purchase only includes the businesses in la crosse and rochester
pacific basin development corp based in vancouver british columbia said it reached an agreement to buy 51 pct of team pacific corp and its marketing arm for 42 mln us dlrs
this takes the banks total help today to some 537 mln stg and compares with its estimate of a 700 mln stg shortage
canadian seafarers threaten strike
it added that nelson based in irvine calif will be operated as a wholly owned subsidiary of ethyl
a canadian government agency ruled today that us farm policies are causing injury to canadian corn farrmers and supported an earlier imposed countervailing duty of about 85 cts per bushel
the minutes showed that one member presumably melzer preferred a directive that did not contemplate any easing during the weeks ahead
there was a wave of panic buying early in the morning as people tried to cover gaps and build long riyal positions said one dealer
waste management says it is prepared to raise its bid for chemlawn to 33 dlrs a share
orion royal bank has decided to withdraw from making markets in floating rate notes frns an official of orion said
german retailers expect good 1987
listing will be in london
proceeds of the sale will be used to reduce debt incurred in the purchase of the arnold foods and old london specialty baking businesses and the stock repurchase program that was part of the restructuring
thomson grand public takes over thorn emis audiovisual division thomson
johnson products co inc said it completed the sale of debbies school of beauty culture inc and the assets of ultra precise beauty boutique inc to management
the commerce department had held that unnecessary restrictions impeded us exports while the defense department said current controls should be retained but better administered
credithrift financial to redeem notes
the company did not indicate when it might resubmit the proposals for approval by its shareholders
the bond will be listed in west berlin duesseldorf frankfurt hamburg and munich
intermark imi plans refinancing
the bundesbank declined to comment but a spokesman said yesterday although the funds now due may be allowed to roll over the possibility that other central banks may choose to redeem them meant a net infusion was needed
import tariffs should be lowered to minimise the inflationary impact of a currency depreciation
subscription is from may 7 until may 13
in a filing with the securities and exchange commission gary associates said it made net purchases of 70900 gull common shares at 15 dlrs to 1862 dlrs a share
hubbard and reed chatted briefly with reynolds after the meeting but declined to discuss their proposal with reporters
unemployment was up from 28 pct a year earlier
shell canada shc whose majority interest is owned by the royal dutch shell group of companies raised the postings of light sweet and sour crude oil from edmonton swann hills 32 canadian cts a barrel effective today
orange co oj holder raises stake
an industry meeting in dublin this week also drew many market participants away from the trading desk they added
but at the bank of nova scotia deputy chief economist warren jestin was less optimistic about the us outlook and said it could be a mistake to read too much into februarys trade upturn
the increase brings marathons posted price for west texas intermediate and west texas sour grades to 1750 dlrs a barrel
the shares give the holder the right to convert to dome common shares at 333 dlrs per share
the real issue is the inability of major sectors of american and european industry to compete not only internationally but even in their home markets peter huggler president of interallianz bank zurich told a recent conference in switzerland
although primary smelting costs have declined generally in recent years the still substantial energy cost savings offered by secondary smelters will continue to make re melted material increasingly attractive
a 0 92 plan if properly done could do both glickman announced this week plans to introduce a 0 92 bill for 1987 and 1988 wheat and feedgrains
no decision has yet been taken on the face value of the coins
the company said it expects to complete the merger by june 17
the private sector still feels inhibited he said
hk banks to raise prime rates soon dealers say
oper shr loss eight cts vs profit 20 cts oper net loss 768000 vs profit 1962000 revs 490 mln vs 436 mln 12 mths oper shr loss 141 dlrs vs profit 96 cts oper net loss 136 mln vs profit 9305000 revs 1753 mln vs 1407 mln note oper excludes loss from discontinued operations of 4676000 dlrs or 48 cts a share for year ago qtr and 7571000 dlrs or 78 cts a share for year ago 12 mths
cavanaugh vice president for grain marketing with indiana grain said he would prefer to trade futures through a chicago based cooperative
explosive fabricators inc 1st qtr jan 31 net
locally heavy rains accompanied the storm over portions of the central plains
miller attributed the expected loss to completion of the purchase transfer and consolidation of operating assets of the osullivan rubber division saying this was proving more costly and taking more time than originally anticipated
taft said the board concluded that the offer failed to recognize fully the future propsects of the company and directed management to explore alternatives including possible financial restructuring
us housing starts rose 26 pct in february to a seasonally adjusted annual rate of 1851 mln units from 1804 mln in january
michel lefebvre vice president of operations said noranda will operate the mine at about one third of its normal 72000 metric ton annual finished capacity using above ground reserves until it decides whether to keep the mine open
this eliminated the widespread market caution against possible joint central bank intervention kidokoro said
gardner said hutton stands to gain fees of 10 to 20 mln dlrs from the transaction but sources close to the transaction said fees are at the low end of the scale
shr 117 dlrs vs 80 cts net 5500000 vs 3500000 nine months shr 330 dlrs vs 210 dlrs net 151 mln vs 92 mln assets 16 billion vs 14 billion deposits 13 billion vs 11 billion loans 9470 mln vs 8220 mln
nz official foreign reserves fall in january
general partners which estimated the total cost of the takeover at 25 billion dlrs also said it plans to continue gencorps policy of trying to settle federal communications commission charges against two of its television and 12 radio station licenses
indonesia has minimised the economic impact of falling oil prices kept inflation within limits and boosted exports finance minister radius prawiro said
qtly div three cts vs 12 cts prior pay april 15 record april 6
precambrian shield takes 51 mln dlr writedown
this is the first time indonesia is attending such a meeting they said but representatives from thailand may not be able to attend because of their tight schedule
central pennsylvania savings association said it made a 30 pct investment in pinnacle mortgage investment co terms were not disclosed
in case the operation should be finalized the bonds would be issued by banks and not by fiat the spokesman said
to meet the daily average dealers said banks must raise holdings by two billion marks to 463 billion today and tomorrow
but economist cork said the expected upturn in the us economy will lead to increased demand for canadian goods and help fuel the countrys modest expansion
31 crss had net earnings of 800000 dlrs on revenues of 825 mln dlrs
such considerations may be helping bond markets resist the equity crash according to mike osborne of kleinwort grieveson
the company said proceeds of the financing will be used by its china lake joint venture for the purchase of equipment and construction of an 80 megawatt power plant at a company developed geothermal site at china lake calif
two us government agencies are in dispute over a proposal for us firms to sell computers to iran officials said
the sources said arrivals from may through july might only reach around 600000 bags whereas in normal years a figure of 10 mln to 15 mln bags might be expected
the countries efforts to further economic growth and to consolidate budgets were not unsuccessful but the slump in oil prices and the decline in commodity prices hampered these efforts he said
mono gold says partnership agrees to buy shares
canadian seafarers are almost certain to go on strike this spring in a refusal to meet rollbacks in wages and benefits asked for by their employers seafarers international union official roman gralewicz said
the net proceeds to the company total 28 mln dlrs the company said
ministers also decided to continue talks with japan
it did not identify the company to be acquired
sumitomo corporation is launching 200 mln swiss francs of convertible notes due september 30 1992 with a coupon indication of 5 8 pct lead manager swiss bank corp said
the stance taken by the experts backs up the official position of the west german government ahead of next weeks seven nation summit in venice where bonn is expected to be pressed by the us and other partners to boost its economy
traders and analysts in international oil markets estimate opec is producing up to one mln bpd above the 158 mln ceiling
the soviet economy has grown at an increased rate under mikhail gorbachevs leadership but his goals may be too ambitious according to a report from us intelligence agencies
the company said the technology combines a unique substrate with two indicator enzymes in a diagnostic assay to measure serum amylase levels
rothmans b shares which firmed on the speculation to close at 273p from 241p on friday eased to 2455p at 0838 gmt
korhonen said finnair had not opted for europes a 340 plane because of uncertainty about the manufacturing of its engines which may have delayed production of the jet
aegon said incidental negative influences on net profits were slightly higher being the lower dollar rate high initial costs for new products and the cost of new headquarters in the hague
utilicorp united inc said it has closed the previously announced acquisition of west virginia power from dominion resources inc for about 21 mln dlrs
a year ago the index stood at 2367 and year on year consumer price inflation at 197 pct
the united states has been able to live on borrowed time
he said first central financial would not itself be an easy takeover target
swiss banker wants bond ratings share disclosure
we welcome the statements from world leaders that urge calm in the present difficult situation she added
the council had been closed three years ago by the military government of former president joao figueiredo
other countries represented at todays talks were italy which refused to attend last months meeting on the grounds that it was being excluded from the real discussions the netherlands belgium and switzerland
the company said the contract calls for continued production of general instruments family of electronics warfare systems for application in naval aircraft
conable said the bank would try to help indonesia find funds to cover its share of development projects which otherwise would have to be scrapped or postponed
an investor group said it might be willing to raise its 100 dlr per share offer for gencorp but so far the company has turned down requests for a meeting
almost 60000 tonnes of food was taken out of ec stores between january 20 when agriculture ministers approved the scheme and march 13 according to latest commission figures
nazer said he was satisfied with the extent of cooperation from non opec producers
previously one of frances biggest private banks it was nationalised by the socialists in 1982
dole told the national corn growers association that he thought the proposal supported by the reagan administration should be seriously considered because a refusal to do so could play into the hands of those who want mandatory controls placed on production
the government also reported that consumer spending a key element of the five year economic recovery jumped 17 pct in february after falling two pct in january
computrac inc said it expects first quarter earnings to be down 50 to 60 pct from a year ago
bank of japan governor satoshi sumita said the present foreign exchange market instability will not last long as there is caution in the market regarding the rapid decline of the us unit
the problem is that aquino has inherited her political system from former president ferdinand marcos the banker said
this underscores its strategy of shifting away from low profit commodity chemicals in mature markets into higher value chemical businesses in high growth areas it said
pengo industries inc said it has agreed to sell its wireline products manufacturing division in fort worth texas wireline services division operations in several locations and pengo international inc subsidiary to john wood group plc for undisclosed terms
american hoist and derrick co aho 1st qtr net
republic of ireland frns were marked sharply down in initial trading and market nerves soon infected other supra national and sovereign paper with dealers attributing the falls to aggressive professional shorting by a few leading us investment houses
the tonnage of goods passing through ivory coasts main port of abidjan rose 23 pct last year according to the ivorian chamber of commerce
it did not disclose financial terms but szynkarsky said the two acquisitions totalled about 90 mln canadian dlrs and the two business have combined yearly revenues of 170 mln dlrs
measurex mx sells south african unit
the company said identical stores sales increased 15 pct for the month of february
industrial production will grow by 16 pct in 1987 and 12 pct in 1988 compared with 42 pct in 1986
this will also increase revenues
annual div six dlrs vs 12 dlrs prior pay march 19 record march 13 note 1986 payout includes two dlrs a share extra dividend 1985 payout includes four dlrs a share extra dividend
pacific resources inc said it signed a definitive agreement with royal dutch shell group unit shell oil co to buy shells marketing terminaling and distribution assets in hawaii for 32 mln dlrs
problems with the new structure appeared earlier this year when some producers output fell due to customer reluctance to pay the new prices
peru government assumes debt of electroperu
the european community ec yesterday warned japan and the united states its main trading partners that friction over trade issues is affecting the ecs relations with both countries
international technology corp said it has purchased privately held western emergency service inc in a stock transaction
the principal amount of the subordinated debt remaining outstanding is 4644080 dlrs most of which is now held subject to indentures which were amended in certain respects in connection with the exchange offers the company said
no targets for volume will be set
but profits will be at a satisfactory level the company said in the annual report without giving a specific estimate
key centurion bancshares inc said it reached an agreement in principle to acquire central national bank of buckhannon in w
he said the rise showed signs of slowing however because taiwan has liberalised import policy and expects its trade surplus to decline over the next few months as a result
the pact also calls for repayment of the debt over 12 months and the application of cash proceeds from the sale of its black fin yacht corp unit
responding to the republican plan agriculture secretary richard lyng and trade representative clayton yeutter said they favor a flexible targeted use of eep instead of an across the board program which they termed too costly
the fact the dollar plunged below 150 yen does not mean anything significant under the floating system he said
he said evergo was attracted by the underlying strength of hk hotels analysts said evergo may be looking for a possible redevelopment of the peninsula hotel one of asias best known hotels and another site on hong kong island
more than half of californias oil comes from stripper wells those producing less than 10 barrels a day and that much of that oil costs between 18 and 25 dlrs a barrel to extract malmgreen said
if approved two mln shares of stock held by the messidor ltd officers and directors would be issued to triton shareholders
illinois fields saw virtually no rain over the weekend but were receiving scattered thundershower activity today he said
the legislation was written in the wake of the may 17th iraqi missile attack on the us frigate stark in the gulf which killed 37 americans and president reagans decision to protect 11 kuwaiti oil tankers by putting them under us flags effectively making them american ships
defence officials said kuwait had asked if protection for up to a dozen vessels most of them tankers could be provided by three us navy destroyers and two frigates now in the southern gulf and the gulf of oman
the payment date is april 27
were working very hard on this merger hughes board today again adjourned a shareholders meeting to vote on the proposed merger and rescheduled it for march 11 to give baker more time to consider the counter proposal
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
swedens industrial production fell 18 pct during january compared with a fall of 08 pct the month before and remains unchanged compared with january 1986 according to figures from the central bureau of statistics
a major misunderstanding is that the private report was government policy
the company said the sale satisfied a condition for its proposed acquisition by an investor group led by citicorp cci
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a spokeswoman said
the ec members have to make a choice van der linden said
net 1909 mln swiss francs vs 1504 mln turnover 524 billion vs 538 billion dividend 160 per bearer vs 155 francs 32 francs per registered vs 31 francs 16 francs per participation certificate vs 1550 francs cash flow 2943 mln vs 2426 mln note confirms forecast of results issued in january
aides to lyng earlier said the administrations agriculture legislative proposals would be the farm related topic on the agenda
oak industries inc oak 4th qtr loss
ouko said the production of kenyas main cash crops increased during the second half of last year
the ministry of agriculture has predicted a fall of at least 25 pct in all major staple crops including maize rice and cassava
british banks are resisting signing a 76 billion dlr rescheduling package for mexico in a last ditch effort to get all participants to contribute equally to a new 77 billion dlr loan contained in the package
the dollar opened at 14095 yen and fell to a low of 14040
montedison other refineries to shut for work
use of alcohol fuel in february was 208600 bpd 42 pct above february 1986
the company said petrosurance will use the sale proceeds to support growth and improve the structure of its reinsurance treaties to retain a larger part of premiums written
zero coupon forgeries have turned up in the euromarket before
market expectations among analysts questioned by before the budget varied widely between a balanced budget and a 23 billion dlr deficit
in a speech to a meeting of south florida business executives goodyear chairman robert mercer lashed out at corporate raiders and takeover specialists accusing them of causing serious harm to the companies they target
shr profit 14 cts vs loss 17 cts net profit 686000 vs loss 831000 revs 242 mln vs 15 mln six mths shr profit 22 cts vs loss 17 cts net profit 1062000 vs loss 812000 revs 425 mln vs 29 mln note quarter ends january 31
world bank launches 300 mln markka bond issue
austec international is based in melbourne australia
it said the vessel had capsized after a collision but gave no more details
note company earlier reported consolidated net profit 3159 mln francs vs 30208 mln and consolidated attributable profit of 2933 mln vs 2666 mln
in the six weeks that followed the japanese yen continued to rise against the dollar despite massive central bank intervention
the company said it organized in late 1986 and closed its intitial public offering of shares dec 23 1986
they slipped 394 mln francs to 3733 billion mostly due to sales of dollars for special drawing rights the spokesman said
brazil suspends import of 500000 tonnes maize
philippine coconut product exports fall in january
a house agriculture committee meeting to draft a disaster aid bill containing a controversial 0 92 provision has been postponed until next tuesday committee staff members announced
delta had maintained that the three unions having contracts with western the association of flight attendants and the teamsters as well as the air transport employees would be extinguished after today
us cable tv credit unlikely to improve says s p
the sec has a standing policy of never confirming or denying investigations or upcoming legal action
todays meeting was part of the uruguay trade round launched by ministers last september
each 50000 franc bond carries 81 warrants entitling the holder to buy 100 nippon signal shares for 594 yen each
the group said all tender offers should remain open for at least 30 calendar days
they said saudi output in the first eight days of march averaged 26 mln barrels per day bpd including oil from the neutral zone shared with kuwait compared to a february average of 35 mln bpd
spectra physics inc said its board rejected a 32 dlrs per share unsolicited tender offer for the companys stock from ciba geigy ltd cigzz which already holds 188 pct of the stock
cpl reit cntrs 4th qtr net
total futures and options turnover last month was 822378 contracts down from januarys 881778 but sharply above the comparative february 1986 figure of 463146 lots it said
zaire defied its creditors late last year by saying it would limit repayments on its five billion dlr external debt to 10 pct of its export earnings from january 1987
house speaker jim wright endorsed a proposal to require the president to take action to reduce oil imports if they threaten to top 50 pct of us consumption
the rating agency cited recent redemptions that reduced the layer of preferred in the companys capital structure
there was also a lack of significant demand from major steel mills who made large purchases prior to the new year
us corporate finance asset back market grows
it was quoted at less 1 7 8 less 1 3 4 pct inside the two pct total fees
the philippines will offer its commercial bank creditors an innovative pricing plan that will make debt payments through certificates of indebtedness as an alternative to cash the authoritative business day newspaper said
icn pharmaceuticals inc has about 500 mln dlrs in cash and another 150 billion dlrs in available credit which it intends to use to buy a pharmaceutical company chairman milan panic said
another 56 miners were trapped underground for as long as 24 hours before they were brought to safety
pemex lowers february far east crude oil prices
at issue is whether the western unions would continue to represent western employees after the integration of the two airlines
in 1986 it had operating revenues of about 13 mln dlrs the company said
portugals consumer prices rose 14 pct in march after a one pct increase in february and a 12 pct rise in march 1986 the national statistics institute said
in a vancouver address crosbie said versatile pacific shipyards inc was the low bidder to build the arctic class 8 icebreaker but the company must meet certain financial and engineering conditions before the contract is awarded
he was speaking after a meeting with defense minister rafael samudio military chiefs and mines and energy minister guillermo perry to review the security situation in the light of a recent upsurge of leftist guerrilla attacks in the oil rich arauca region bordering venezuela
elevator loading waiting continental grain westwego 1 3 mississippi river myrtle grove 2 0 adm growmark 1 4 bunge grain destrehan 1 0 elevator loading waiting st charles destrehan 1 3 reserve elevator corp 0 1 peavey co st elmo 1 2 cargill grain terre haute 1 4 cargill grain port allen 1 0 zen noh 1 1
year ended march 31 group shr 3398 yen vs 3910 net 2116 billion vs 1996 billion current 4523 billion vs 3287 billion operating 7717 billion vs 6390 billion sales 61696 billion vs 52788 billion note the company said the 376 pct increase in 1986 87 group current profit from a year earlier was mainly due to a drop of two billion yen in interest payments
earlier supporters of the coffee bill hoped it could be passed by congress quickly
kdi corp said it has agreed in principle to acquire triangle microwave inc for 650 dlrs plus a contingent payment for each triangle share
he said the allis chalmers division accounting for some 50 pct of the us groups sales would fit in well into boliden
it estimated the ec rapeseed crop at a record 59 mln tonnes up from 37 mln last year
the dollar was quoted at around 18040 marks shortly after midday in nervous but quiet trading up from its 17975 85 opening
note full name is anglo american industrial corp ltd
perus centromin says no copper force majeure
shr 32 cts vs 29 cts net 3320206 vs 2990695 revs 135 mln vs 149 mln
but diplomats said the ec is keen to negotiate with tokyo to solve the problem rather than embark on a costly and damaging trade war and the ministers called for more cooperation with japan in industry and research
furthermore by paying back ahead of schedule some of the last loan it raised the philippines will be hoping to make a good impression on the international banking community
the proposed issue volume is 475 billion yen against the 600 billion in february
this idea has been suggested by the american farm bureau federation afbf as the fairest approach for all commodities
the dollar remains the key fundamental factor and the us currency has made little headway of late analysts said
regarding inter meeting policy adjustments the fomc minutes showed the members generally felt that policy implementation should be especially alert to the potential need for some firming of reserve conditions in this view the fomc said somewhat greater reserve restraint would be warranted if monetary growth did not slow in line with current expectations and there were concurrent indications of intensifying inflationary pressures against the background of stronger economic data
it attributed the acceleration to higher fuel and water prices
swiss agree on new prospectus rules for notes
rha said south korea had also lowered many of its tariffs
rice planting is threatened in eight provinces it added
it said exports in the eight month period rose to 358 billion dlrs from 318 billion in 1986 while imports rose to 412 billion dlrs from 334 billion a year earlier
the company said james j
he was speaking after a meeting of farm leaders with the danish foreign and agriculture ministers who currently chair meetings of their ec colleagues
efforts by governments to control wheat surpluses by cutting support prices have met with only partial success the international wheat council iwc says in its latest monthly report
gros himself said pushing the problem away for 90 days at a time is not very useful
america first federally guaranteed mortgage fund two said it is making a special distribution of 716 cts per exchangeable unit which includes 6762 cts from return on capital and 398 cts from income gains
qtrly div 40 cts vs 40 cts prior pay aug 14 1987 record april one 1987
indonesian debt servicing of 6760 billion rupiah takes up almost one third of the 1987 88 budget
in addition we are setting up grain production bases raising the level of science and technology on the farms and improving the supply of raw materials roads and other infrastructure he said
venezuela to lend oil to ecuador for export
nynex nyn increases qtrly cash dividend
western governments view official soviet estimates for defense spending as highly understated but say the real figure is hard to calculate because soviet military industries are intertwined with the civilian economy
the question was a key aspect of the commissions farm price proposals he added
earlier this month the group said that tentative merger talks with the high street pharmacist underwoods plc had been called off and recently announced a 192 mln stg recommended offer for charlie browns car part centres plc the b and q do it yourself centres raised sales by 31 pct and retail profit by 37 pct with its pretax contribution of 455 mln making it the largest single component
johnson said initial progress has been made on a variety of fronts
the new forecast is 227 to 25 pct down on the official figure of 128 mln tonnes for last seasons production
brazils trade surplus doubled in february to 261 mln dlrs from januarys 129 mln but was well below the 628 mln dlrs of february last year official figures show
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
it said it expects to add 150 minit lube fast lubrication service centers in 1987 at a cost of 75 mln dlrs
the chrysler corp unit said the move is prompted by the parent companys three for two stock split which requires a recalculation of the debentures conversion prices that will adversely affect those prices by at least five pct
the company said the value represents a substantial premium over the debentures market value which traded at 410 dlrs per 1000 dlr face amount on march 13
nationwide building society said it is issuing 30 mln stg of index linked loan stock due 2021 by way of a placing on a yield basis in the domestic sterling market
de villiers also warned in the annual report that failing prompt and decisive political action south africa faces a future of violent deadlock between different racial and political groupings he said south africas future economic prospects are clouded by political and social issues and in the absence of evidence that these are being positively addressed i am unable to offer an earnings forecast for 1987 standard bank 39 pct owned by standard chartered plc stchl london previously reported that 1986 net income rose by 138 pct to 2090 mln rand
they said foreign exchange constraints and national policy would not allow a return to large scale imports which peaked at 1615 mln tonnes in 1982
total maize area planted for the 1986 87 harvest was estimated at between 358 and 378 mln hectares or two to seven pct less than the 385 mln hectares planted in the 1985 86 harvest
the milan daily il giornale said a convertible bond issue was under study but gave no details
charts signal bullish breakout in debt futures
although bankers are eager to foster foreign investment in the philippines the pins idea is likely to run into stiff resistance by at least some members of the bank advisory committee because it would establish the precedent of some interest payments being made with paper rather than cash
the budget has been delayed by opposition boycotts of parliament to protest government plans for a new sales tax
borg warners 420 mln dlr a plus senior debt and a 1 commercial paper were placed on creditwatch december one
in a filing with the securities and exchange commission chevron said it sold the shares for 1188 dlrs each or a total of 546 mln dlrs under an agreement it had with unc
elevator loading waiting continental grain westwego 1 6 mississippi river myrtle grove 1 0 adm growmark 1 4 bunge grain destrehan 1 0 elevator loading waiting st charles destrehan 1 1 reserve elevator corp 1 0 peavey co st elmo 1 0 cargill grain terre haute 2 1 cargill grain port allen 0 0 zen noh 1 2
they say it is not feasible for america to withdraw its 30 ship force from the gulf area where the navy began escorting us flagged kuwaiti tankers in july
a miti official said the ministry has conducted a survey of foreign exchange trading by trade houses and exporters
the long term prospects of the malaysian economy are bright indications are already available to show that the economy is recovering and that growth will be positive and stronger than originally expected azraai said
a house subcommittee voted to give president reagan authority to block foreign takeovers of us companies similar to the takeover of schlumberger ltds slb fairchild semiconductor corp by fujitsu ltd which was withdrawn
the company said wright engineers would convert the warrants to stansbury common on a monthly basis at the monthly market value as the 1700000 dlrs of engineering work is completed
according to customs figures cotton exports rose to 558089 tonnes in calendar 1986 from 347026 in 1985
the 1987 grain production target is 405 mln up from 391 mln in 1986
he said the takeover fits into the companys drive for expansion in the us and canada and further acquisitions are possible
meanwhile britain will re examine a letter from japanese prime minister yasuhiro nakasone promising personal help in solving the row over a uk firms bid to win a significant role in japans telecommunications market government sources said
the report said the regions improved economic growth last year was based on a rise in internal demand and fuller utilization previously underused production capacity
britain and australia also have plans to mint gold bullion coins the analysts said
the sale covering a 20 year period beginning may 1 1989 was previously recommended by the national energy board
oper shr loss three cts vs loss three cts oper net loss 388000 vs loss 452000 revs 1425000 vs 1126000 year oper shr loss 26 cts vs loss 15 cts oper net loss 3604000 vs loss 2108000 res 5712000 vs 6604000 note 1986 net both periods excludes 413000 dlr gain from settlement of old obligations
rains in the week to yesterday were isolated and weak in buenos aires province totalling between one and 10 mm
no date has been set for the issue announced in january
viacom said national amusements arsenal holdings inc raised the value of its offer for the viacom shares not held by national amusements in three areas
amoskeag bank amkg to seek rehearing
washington wants to involve the iadb in its debt strategy through increased lending but as the banks largest single shareholder it also wants to require countries to adopt far reaching economic reforms to qualify for loans
their ideas are due to be unveiled when finance ministers hold an informal meeting in belgium early next month
but the head of the socialist cfdt union federation edmond maire meeting with chirac today renewed union demands already rejected by the government for indexation clauses to be built into future pay contracts to safeguard workers against higher prices
we have to strengthen the cooperation between the seven major industrial countries and remind ourselves of the pledges we made at the louvre he told journalists
the company also said its independent accountants disclaimed an opinion on the financial statements for 1986 because of questions about its contination as a going concern
france to request permanent maize rebates
keith skeoch chief economist at stockbrokers james capel and co said the remarks have been blown out of proportion
pacific western recently acquired canadian pacific airlines for 300 mln dlrs from canadian pacific ltd cp
group lifts stake in scandinavia fund scf 
costa rica sells sugar to soviet union
pay n pak pnp gets two offers for company
the partnership requested that if any other proposal is under consideration that it be given the same information available to gencorps managers and advisers in constructing a proposal
pinnacle west capital pnw buys mineral rights
investment firms cut cyclops cyl stake
uk reserves show large underlying rise in march
k mart corp said its sales for the five weeks ended april one rose 46 pct to 218 billion dlrs from 208 billion dlrs a year earlier
fabricated metals increased to 814 pct in february from 812 pct in january while motor vehicles and parts jumped to 836 pct from 800 in january
the bank was considering proposals to allow firms and individuals to hold foreign exchange and invest in foreign stocks for the first time chang was quoted as saying
melnikov noted that he has seen no indications from soviet government officials that they would be pushing for a renewal of the agreement
qtr ends feb 28 shr 37 cts vs 35 cts net 4346000 vs 4202000 revs 232006000 vs 223151000
i expect it to continue in that vein excess reserves fell but they are still over a billion dlrs added first chicagos johnson
block can choose where and by how much it wants to expand into the seven cities made available for the direct filing by the irs bloch noted
the 200 mln stg commercial paper program will include a dollar option county natwest said
the breakdwon was in tonnes cotton nil nil sunflower 27715 43064 linseed 5228 4473 groundnutseed 819 3647 soybean 104314 56901 tung 20 nil olive 161 858 maize nil 307 rapeseed nil nil grape nil nil the board said
soybeans were boosted by expectations that the agriculture department would report a healthy signup for the conservation reserve program which pays farmers to leave highly erodible land idle instead of planting a crop traders said
copper production by the government controlled zambia consolidated copper mines zccm for the 1987 financial year ended march 31 improved slightly to about 471000 tonnes from a record 1986 low of 463354 tonnes
it also said it may raise its stake in cadbury schweppes to 25 pct but has not made any additional stock purchases so far
fluorocarbon corp fcbn qtly dividend
seton sel directors approve merger agreement
bahia blanca wheat 161360
a counter proposal from creditor banks to argentinas request for rescheduling its 50 billion dlr foreign debt was full of holes an argentine observer at negotiations said
about half the proceeds 40 mln dlrs will be used to reduce parent bally manufacturings debt which has swelled to 16 billion dlrs due to recent hotel acquisitions and the purchase of shares from donald trump who had threatened a hostile takeover according to bally treasurer paul johnson
ec watching gulf war developments
commerce ministry officials said the countries will try to adopt a common strategy to counter protectionist measures by developed countries and forge developing country cooperation commerce secretary abm ghulam mostafa said the officials would discuss issues relating to financial resources commodities international trade and least developed countries and formulate concrete measures towards concerted action recommendations of the dhaka meeting will be placed before the july united nations conference on trade and development meeting at geneva officials said
if the settlement agreement is approved the trading prices of the bonds will decline substantially because they will no longer reflect the speculative premiums at which the bonds currently trade burlington northern also said
federal mogul corp fmo 3rd qtr net
ex usda official urges chicken handling labels
when the dot opens for business on monday morning we will be refiling a perfected and completed section 408 application said twa general counsel mark buckstein
klm and air atlanta had been talking for some time he said but declined to elaborate further on the talks or give details of the loan to air atlanta
dollar opens sharply higher in tokyo at 14355 yen monday close 14135
borg warner traffic services provides freight bill pre audit payment and information services to industry through borg warner acceptance corp
ccr video corp cccr 1st qtr nov 30 net
royal bank of canada said it is raising its us base lending rate by 1 4 pct to 8 1 4 pct effective tomorrow
melville corp mes 3rd qtr net
dealers said they expected rates to remain within a 370 to four pct range this month
wayne bennett the american soybean associations first vice president told a news conference the us administration would not hesitate to retaliate but both producers and processors were trying to solve the issue through negotiation
total reserves in 1986 declined by 189 mln rand to 570 billion rand and were equivalent to about 145 pct of the total annual value of import payments
altex resources ltd year net
tanzania will recieve a 23 mln dlr ida loan to help rehabilitate its telecommunications network the bank said
china allows nationwide foreign exchange saving
analysts shrugged off as largely irrelevant a higher than expected increase in february sterling m3 which pushed the annual growth rate to almost 19 pct well above the previous target of 11 to 15 pct
treasurys baker sees cut in trade deficit
the two men had run the saudi oil industry for more than 20 years
the second biggest loss of life in peacetime was in 1914 when 1014 people drowned when the liner empress of ireland collided with a freighter on the st lawrence river in canada
each 1000 franc bond carries a warrant entitling the holder to buy one 200 franc nominal ekn bearer share for 510 francs
shr 22 cts vs 49 cts net 296994 vs 657416 revs 65 mln vs 95 mln year shr 78 cts vs 151 dlrs net 10 mln vs 20 mln revs 276 mln vs 294 mln
usda officials declined to comment on the draft regulation except to say it was subject to change before it will be released probably some time later this month
carroll also noted that since the merger accord was first signed the outlook for the industry has improved materially hughes may simply feel the pressure on the oil service industry is lifting
the bank of england said it provided the money market with a further 195 mln stg assistance during the afternoon
he would then talk to the commercial banks if ive got some solution from the governments
both believed the combination would permit more effective competition throughout the world and enahnce the service provided to clients
west german government officials have stressed bonn is not in a position to stimulate growth further since tax cuts due next year and 1990 are already stretching the budget
caesars world caw stays on s p watch negative
banks took up the bundesbanks standing offer of treasury bills to place excess liquidity
conger said he sees homestakes 1987 gold production about the same as 1986 gold production of 669594 ounces
he said the net transfer was hurting the countrys continued growth and capacity to import goods
while there are no specific pork items in that legislation feed grain prices directly affect pork producer profits the nppc said
fruit of the loom inc said it agreed to sell its general battery corp subsidiary to exide corp for about 145 mln dlrs in cash
if gao determines that certificates encourage more loan entries or cause more loan forfeitures then the net cost of the program would go up
also a windfall tax credit and lower than expected currency losses had added about 100 mln stg onto fourth quarter results which was the main reason for the figures exceeding forecasts industry analyst chris rowland of barclays de zoete wedd noted
first florida banks ffbk 3rd qtr net
fed drafts currency rate swap risk gauge
the utility said the agreement also resolves any issue relating to the prudence of the planning management and construction of palo verde and settles any possible issue of excess generating capacity through 1993
customs figures show that china imported 773 mln tonnes of grain in 1986 up from 597 mln in 1985 but down from a record 1615 mln in 1982
manaspas xuto of thailand chairman of the inra renegotiation conference is holding consultations with a small group of producers and consumers to try to resolve major outstanding issues
argentine officials said they might halt debt payments last month if creditor banks did not agree to a new 215 billion dlr loan
i dont think he would be willing to take on tennecos problems with case the farm equipment unit which has been losing about 180 mln dlrs annually and is worth less than a billion dlrs on the market today
imports fell to 768 billion rupees provisional in february from 819 billion final in january and compared with 684 billion in february 1986
tanjug said in the interview mikulic warned the army could be called in if yugoslavias political system was threatened
proceeds will be used to enhance the growth of north american operations of its transamerica occidental life subsidiary the company said
the rating agency cited usair groups proposed acquisition of piedmont aviation inc pie as well as trans world airlines incs twa proposed cash merger with usair
my relationship with the hong kong bank is wonderful
the new 1987 tax laws will not hurt the economy and the tax reform act of 1986 significantly lowers tax rates and will greatly increase private production incentives he said
he said that although friendly countries were still prepared to assist sri lanka with concessional aid colombo would have to surmount many problems in detailed negotiations due in may june and august before these loans are finalised
we expect understanding and support because it is in their interest as well mikulic said
as of march 13 renouf said about 3847375 units had been tendered
diamond crystal dslto 2nd qtr sept 30 net
the main reason for the slower rate of economic growth was a drop in the real value of agricultural output
ec farm ministers to meet tomorrow after summit
qtly div 31 cts vs 31 cts prior payable april 22 record april three
it is in two equal tranches
great northern nekoosa gnn 1st qtr net
singapore external trade gains 88 pct in quarter
qtly div six cts vs six cts prior pay april 17 record april 3
the communique did not identify the supertanker but said columns of smoke were seen billowing from it
the funds were raised through bcis first such fund the baring euaring european capital trust from investors in nine european countries
the balance will be funded by debt battery group said
shr loss 10 cts vs profit 17 cts net loss 1546000 vs profit 4078000 revs 226 mln vs 389 mln
bids for the bills will be received at all federal reserve banks and branches
it said year on year m 1 grew 231 pct in january after an 185 pct increase in december
the report dated march 24 noted parana accounts for about 20 to 24 pct of brazils total soybean crop
the payment date april 9 1987
aspen ribbons inc aribo 1st qtr net
an agreement could pave the way for ecgd to resume insurance cover for exports to nigeria which was suspended in 1983
he pointed out that there are some contractual points to be considered
standard trustco sees better year
it also asked for a reduction in the repayments it was due to make in 1987 1988 and 1989 after an earlier request that it make no amortizations at all in those years was rebuffed and sought a commitment from the banks to finance new investment in venezuela
the issue is guaranteed by hokuriku bank ltd
proposed offerings recently filed with the sec
chrysler c deal leaves uncertainty for amc workers
bonn ministry has no comment on baker remarks
haas also called for a review of present chicken industry inspection methods that she said can worsen poultry hazards
philippines trade and industry secretary jose concepcion told world trade ministers he wondered if their agreement was of any real value after the european community ec proposed a levy on vegetable oils
net earnings for first three months of 1986 restated to reflect reduction of 148000 dlrs resulting from increase in effvective income tax rate
a san miguel spokesman declined comment
officials said a colony of the black and amber coloured beetles can destroy a potato field in a day
the commodity credit corporation ccc has accepted an export bonus offer to cover the sale of 37000 long tons of wheat flour to north yemen the us agriculture department said
the company said the dividend establishes a new policy for the payment of quarterly dividends
scan graphics inc said it will be acquired by captive venture capital inc a public company in a stock transaction approved by shareholders of both companies
freedom savings frdm may seek sale or merger
the company said the groups review is preliminary and there is no assurance that an acquisition proposal will be made or if made accepted
the bank bought 176 mln stg of band two bank bills outright at 10 5 16 pct and 13 mln stg of band one bank bills at 10 3 8 pct
the company said ice creations had sales of 12 mln dlrs in the year ended may 31 1986
susin suratanakaweekul president of the thai coffee exporters association told that thailand obtained little benefit from previous ico quotas which represented only about 30 pct of its total annual exports
lead production fell 229 pct to 1670 tonnes from 2165 and zinc production dropped 14 pct to 4830 tonnes he added
capitol bancorp said it has sold its 80 pct interest in cap mortgage co inc for 31 mln dlrs adding this is expected to result in an after tax gain of about 900000 dlrs to be reported in the first quarter
the sources said icahn has not lined up outside financial advisers and plans to make his own arrangements
the shares in the trust formerly represented shares of transworld corp common stock
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
noranda estimated that the securing operation for the zone will not be completed before the end of april
gilt sales now are effected by means of large scale stock tenders or by tap issues of stock tranches direct to the market
torchmark corp is raising 200 mln dlrs through an offering of sinking fund debentures due 2017 yielding 865 pct said lead manager first boston corp
inl said in a statement houston community newspapers inc bought the south west advocate and the south bend advocate with combined circulation of 74000 copies and associated assets from the advocate communications corp inc inl publishes wellingtons morning and evening newspapers as well as new zealand provincial dailies and newspapers in rhode island
in addition s and p does not expect any big shocks to hit the junk bond market this year especially of the magnitude of 1986s unexpected ltv corp ltv bankruptcy filing
in this he had the backing of many in the reagan administration who viewed the bank as a bloated and inefficient bureaucracy that gave money to countries when other free market sources of assistance were available
it said the 75 mln dlr gain from the sale and about 125 mln dlrs of statutory surplus that previously supported operations of the group being sold will be used to support transamerica life cos efforts to accelerate the growth of its remaining businesses
multibank financial corp mltfo 3rd qtr net
health images inc himg 4th qtr loss
home savings bank hmsb sets initial quarterly
cri insured mortgage investments inc said its advisor will recommend a special distribution of 50 cts per share due to the sale of a federally insured first mortgage on park meadows i in madison wis for 4267871 dlrs
lm ericsson of sweden said it agreed in principle to buy the 49 pct of intelsa its spanish unit that it does not already own from telefonica spains telecommunications administration
excluding unusual items it said restaurants operating profit was down in the quarter 12 pct from a year ago as sales rose four pct
for the longer term while confusion will continue to bring clients into blocks 8866 tax preparation offices worldwide there are some changes in the act that will have a negative effect bloch conceded
the american electric unit last tapped the domestic debt market on august 21 1986 when it issued 80 mln dlrs of same rated 29 year debt securities priced to yield 9 1 2 pct or 204 basis points over comparable treasury securities
takahashi said the economy might contract in the current quarter given the lack of additional significant government spending and sluggish consumer spending
schlumberger slb may have alternate buyer
fluegel heading one of three us soybean producer delegations currently on a lobbying tour of ec countries told in an interview meetings with officials from the italian foreign and agricultural ministries had not yielded much to encourage hopes that italy would vote against the proposed tax
hospital staffing services inc hssi 1st qtr
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
britain to mint new britannia gold coin
qtrly div 34 cts vs 34 cts prior pay may 1 record april 15
the potetnital acquisition of half champlins corpus christi plant will also give venezuela an additional outlet for its crude oil production while giving the refiner an assured source of supply trade sources said
undewriters have been granted an option to purchase up to another 135000 shares to cover overallotments
halcyon has stake in research cottrell rc 
media general inc said it raised the annual dividend on its class a and class b common stock to 68 cts a share from 64 cts
monetary policy should aim for further interest rate cuts and avoid rises to boost the economy and discourage revaluation speculation
some other banks are not as strong however and a protracted confrontation with brazil could still seriously erode depositor and investor confidence especially if other debtors are emboldened to follow suit and press for debt relief
j and j snack foods corp said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible debentures
us bank discount borrowings average 310 mln dlrs in feb 25 week fed says
a takeover by amoco or imperial would also give a foreign oil company a dominant position in canadas oil industry
america first mortgage sets special payout
it said the companies may form a joint venture partnership to bring the mine to full commercial production
herrhausen said he was confident private consumption would support economic growth in west germany this year with net income increases turning into purchasing power as long as inflation did not revive
nippon steel corp nstctok said it will cut its capital spending by 364 pct to 105 billion yen in the year starting april 1 from a year earlier due to the postponement of furnace improvements
perini corp pcr sets quarterly
us agriculture secretary warns ec on soy oil tax
current public stocks of durum wheat in the ec are 115 mln tonnes of which almost 112 mln are in italy
the companies had been given until april 22 to comply with the justice department requirement kerridge said
markets which rely on a steady supply of australian wheat understand a decrease in production due to drought but they will have difficulty understanding a deliberate decision to decrease production condon said
bass is known for its high quality casual shoes
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
spartech sptn sets reverse splitdebenture sale
the new china news agency quoted the bureau as saying foreign trade totalled 93 billion dlrs in the period of which exports were worth 43 billion dlrs
the money must come either through equity or debt and baker said developing nations investment regimes do not support enough equity investment so youve got to have some debt there
while increasing banners size and diversity s and p said the transaction heightens financial risk with debt to capital rising to more than 90 pct
moore told the opening meeting of trade ministers from 22 nations gathered for informal talks on the gatt that ministers need opportunities to keep in touch and to consider how the political problems inherent in an exercise like this one can be faced and resolved moore said the taupo meeting is one of a series of such international gatherings which includes the oecd ministerial meeting in may and the g 7 meeting in venice in june enabling ministers to maintain contact
mitsubishi banks ny branch sets one billion dlr us medium term note program
shr 54 cts vs 51 cts net 2151000 vs 2439000 sales 903 mln vs 968 mln avg shrs 3960000 vs 4782000
slenniken said the company has commissioned studies for a 200000 tonne capacity pulp mill which would use the fibre but would need partners to begin the project
industry sources said the moves will smooth the changeover to screen based trading and give the equities market one voice
in addition takemoto said tension over the supercomputer trade should not affect the sale as fairchild does not make supercomputers
reed outlined a plan to reshape gencorp in the event his group wins control
if the commission agrees that public benefits and competitive enhancements will result it can vote to reopen the merger case
schlecht and tietmeyer were speaking ahead of a discussion by the ec ministers of the latest ec commission report on the economic situation in the 12 nation bloc
chubb corp cb sets quarterly
union pacific unp raises crude oil prices
hartford said results for the year were aided by a gain of 465 mln dlrs on the sale of its remaining 52 pct stake in abbey life group plc
tmoc shares jumped to 460 dlrs on the announcement from its friday closing price of 415
bank of france says no money market tender today
southmark said it received the rights on april 6 as the holder of about 84 pct of american realty trusts outstanding shares
the rating agency said it had anticipated that service merchandise would be able to achieve better operating results than it actually did in fiscal 1986
oecd europe zinc stocks rise in january
a spokesman for pillsbury said the company is aiming to get this after tax gain in the fourth fiscal quarter ending in may
shr 19 cts vs 10 cts net 653464 vs 287606 revs 106 mln vs 7600000 year shr 68 cts vs 46 cts net 2309181 vs 1408813 revs 384 mln vs 260 mln
us monetary sources also said washington wanted it understood by markets the sevens commitments were genuine
canada plans one billion dlr bond issue
he said there were encouraging signs that some foreign investors were again taking a more realistic view of south africa
after delivering oil to a refinery in paulsboro new jersey the ship apparently lost its steering and hit the power transmission line carrying power from the nuclear plant to the state of delaware
nippon life is japans largest insurance company and the worlds biggest institutional investor analysts said
uk property company greycoat group plc is seeking two financings one for 120 mln stg and the other for 16 mln stg in connection with its embankment place development above and around charing cross station in london banking sources said
pre equity pre tax earnings 5952 mln dlrs vs 6413 mln
lucas industries plc lucsl halfyear ended jan 31
the agency said the rise in the merchandise surplus to 277 billion dlrs from 220 billion dlrs in the third quarter was more than offset by high deficits in servicies and investment
petrobras asks army to withdraw troops
he said last weeks hiccup in money and currency rates and bond and stock prices was probably caused by japanese window dressing for march 31 end of fiscal year accounts
it will buy back at par plus accrued interest the 1635 pct issue in may and the 1620 pct bonds after august one
but private sector confidence had been undermined by uncertainties over exchange rates it said and warned that for confidence to be restored it is important for governments swiftly to implement internationally agreed commitments this was a clear reference to last februarys louvre accord of the group of five nations plus canada analysts said
freddie mac explained that the securities can be used as collateral for borrowings sold to other investors or employed in a variety of cash management techniques
the may deficit compares with a surplus of 1555 billion lire in the corresponding month of 1986
ici ici sees growth in pharmaceuticals
a senior central bank official said that such methods as controlling foreign exchange deals and invoking currency swap agreements with other central banks which have not been invoked since 1978 are all being considered
gulf states said the audit opinion satated that without sufficient rate increases or funds from other sources gulf states may be unable to maintain its financial viability which is necessary to permit the realization of its assets and the liquidation of its liabilities in the ordinary course of business
this week therefore us officials signaled their backing for a novel proposal by the philippines that called for partial payment of interest in tradeable investment notes
he voiced support for measures already taken including septembers 31 pct devaluation of the rupiah and efforts to deregulate imports and stimulate exports
dealers said there is even talk that owners are considering taking older vessels out of lay up to meet current demand
uk money market given further 31 mln stg help
offer for dome may short circuit its debt talks
another streamlining idea is to allow small banks to escape by swapping their loans for exit bonds that a debtor would issue at a discount
acquisitions were the high performance connecting materials operations of celanese corp inmont corp bought from united technologies and american enka bought from akzo nv akzoas basf said it expected a us investment of 240 mln dlrs in 1987 part of a five year programme totalling one billion
combined sales of 71300 running bales of cotton 60200 bales for the current season and 11100 bales for 1987 88 season were four fifths higher than the prior weeks level but nine pct below the four week average
trydahl samuel mineo and charles e
mexico has no plans to leave ico
the average yield on the three month bills was the highest since 599 pct on june 30 1986
the group said cross bought 17000 shares in the open market between feb
traders and internal trade department officials agreed last week to commission a study on a structure to regulate maize forward trading and to set up a company thailand commodity exchange co ltd with 30 businesses as shareholders who will act as brokers in the futures market
european community ec members of the international tin council except britain have said they are prepared to back an extension of the international tin agreement an ec spokesman said
gillette gs seen object of global bidding war
he might not come out in favor of it but he wont go to the president and voice his objections in an official statement clarifying shultzs remarks yesterday to leaders of the national association of wheat growers the state department said secretary shultz expressed his belief that whenever possible us grain should be competitive on world markets including the soviet union
burr brown corp bbrco 3rd qtr net
usx corp said its uss steelmaking division increased prices on plate and h pile products
it also said it expects revenues for the year to exceed 30 mln dlrs
latest year net includes 1825000 dlr tax credit and 2600000 dlr posttax loss from debt extinguishment
burlington lawyers said edelman and dominion held discussions with painewebber and ammeen about acting as financial advisers to samjens
but money traders said the market generally shrugged off the banks cd operation because it was small and at a rate far below prevailing market rates
the company has agreed to sell its oil and gas properties to victoria exploration nl of perth western australia
shr 42 cts vs 19 cts net 2903000 vs 1307000 revs 131 mln vs 8937000 avg shrs 6877360 vs 6874970 nine mths shr 98 cts vs 62 cts net 6740000 vs 4085000 revs 339 mln vs 278 mln avg shrs 6875706 vs 6605879
results benefitted from cost cutting and higher volumes
it was a frenetic market it was really quite active he said
it said the commission is currently allowing the company to recover 40 pct of the cost of owning and operating the plants
food handling which also produces equipment for the commercial baking industry was privately owned by richard shumway of mesa ariz and vic ferrara of dallas both of whom will remain with the company
all the information that has been given out publicly is that yes dominion textile is interested in making an acquisition that big probably based on that people are starting all sorts of rumors he said
the trade believes the international coffee organization ico is unlikely to tackle the re introduction of quotas before its september meeting and until then the market will not see any unexpected sharp moves in either direction
final quarterly results will be reported toward the end of the month or the beginning of may a company spokesman said
the bank report was especially critical of indonesias drive to plant sugar saying domestic sugar prices are double the world average because of inefficiencies and the country would save money by importing the commodity
sanford margoshes of shearson lehman brothers said this deal shows that british petroleum a conservative investor that knows the oil business is clearly confident in the us oil industry and that shines well on the us companies more
overall prices fell as much as a point with the benchmark canada 9 1 2 pct of 2001 at 106 3 8 5 8 the 8 1 4 pct of 1997 at 99 99 1 4 and the 8 1 2 pct of 2011 at 98 1 8 3 8
bank of japan governor satoshi sumita will be in osaka western japan on april 27 and 28 for the annual meeting of the asian development bank making a rate cut announcement early next week a virtual impossibility they said
at todays cabinet meeting nakasone told trade and industry minister hajime tamura to redouble his efforts to calm us anger over what it sees as japans unfair trade practices in semiconductors
todays peak at 720 pct was its highest since august 19
gaf a roofing and chemicals concern attempted a takeover of the much larger union carbide corp two years ago
high hog corn ratios the number of bushels of corn that could be bought for 100 lbs of hog and the resulting increased profits encouraged farmers and confinement operations to increase production starting late last year
shareholders will be asked to approve the issue and an increase in authorised capital to 175 mln shares from 125 mln at a general meeting on may 1 it said in a statement
soviet firm says talks on for philippine mine
asian revaluations
shr loss 11 cts vs profit four cts net loss 199000 vs profit 81000 rev 19 mln vs 25 mln nine months shr loss 14 cts vs profit 15 cts net loss 261000 vs profit 273000 rev 64 mln vs 76 mln note per share information adjusted for three for two stock split on january 31 1986
payment is on may 1 and coupon date is may 1
pillsbury co psy votes quarterly dividend
the fed injected temporary reserves directly and indirectly on four of the five trading days via system and customer repurchase agreements
korea expects its auto exports mostly for north america to balloon to 675000 units in 1987 from zero in 1985
barclays is a co chairman of the commercial bank steering committee
under a long term supply agreement with condere it is anticipated that truck tires produced at the natchez plant will be supplied to the armstrong tire co an armtek operating company the company said
its not necessarily an unfavorable development gros said when asked about the prospect of brazilian loans being put on a cash basis
federal reserve board vice chairman manuel johnson said that maintaining price stability was critical to achieving non inflationary economic growth in the world and said that progress was being made
jamaica has put a cap on its 35 billion dlr foreign debt and will reduce its obligations by 300 mln dlrs this year prime minister edward seaga said
the market doesnt see this as a real crisis yet economist jorge braga de macedo told 
msa realty corp sss 4th qtr net
medar inc said it acquired automatic inspection devices inc a subsidiary of owens illinois inc toledo ohio through an exchange of stock for 80 pct of the company
their interest is not in preserving and strengthening americas industrial and providing jobs he said
the economic daily newspaper said the high quality general will help chinas cigarettes enter the international market
marcove and gerald m
brazil has the potential for becoming a leading world economic power but it is in a difficult position today volcker said
wells fargo and co 1st qtr shr 136 dlrs vs 113 dlrs
onic tenders wednesday for wheat for pakistan
merrill which will be the dealer for the medium term notes and commercial paper said this was the first facility of its kind
paperboard industries corp said it agreed to sell 93 mln dlrs of convertible notes with half to be purchased by brokers wood gundy inc and mcleod young weir ltd and the other half by controlling shareholder kinburn industrial corp
but there is a precedent for other centralled planned economies in gatt the diplomat said
although the bill includes a narrow version of the 0 92 provision endorsed by the reagan administration the us agriculture department withheld its support from the measure
in corrientes province the rains also passed an average of 200 mm in some parts notably the paso de los libres area bordering on uruguay
waste wmx ends offer for chemlawn chem 
norstar holders will receive 12 fleet shares for each one of theirs following fleets previously announced two for one split
tandy said march sales and oprating revenues totaled 1644 mln dlrs up 11 pct from march 1986s 2388 mln dlrs
in a filing with the securities and exchange commission the warburg pincus group said it bought the stake for investment purposes
national intergroup nii unit files for offer
president reagan imposed 300 mln dlrs in sanctions on japanese goods last april for its failure to honor a 1986 agreement to end dumping semiconductors in the us and third country markets and to open its home market to us goods
atlas the philippines biggest copper producer said it had been hit by depressed world copper prices
first union fur leaves dividend unchanged
the 23 dlrs a share cash only offer is nearly double the market price before news announced its now completed bid for the herald and weekly times ltd hwtas in early december and no other offer is likely it said in a statement
the senior bank official said a majority of japanese bank creditors are unwilling to provide any new credits to nigeria although about 80 pct have reluctantly agreed to accept rescheduling of part of their existing loans
it agreed recently to sell its canadian courier unit to onex capital for 170 mln dlrs and previously sold its auto filters business
virginia housing agency cmo bond issue priced
bank of japan governor satoshi sumita said the central bank will carefully consider its monetary policy in light of the recent sharp fall of the dollar
the euronotes will have maturities of one three and six months and be sold in denominations of 500000 and one mln dlrs while the commercial paper will have maturities of up to 183 days
shr loss 67 cts vs loss two cts net loss 3721000 vs loss 107000 revs 1557 mln vs 242 mln note results for 12 months ended dec 31 1986 and eight months ended dec 31 1985
otter tail power co ottro sets dividend
transcanada canadas largest natural gas pipeline operator said it is offering dome a package of cash common and preferred shares and shares in a new subsidiary which would own and operate domes assets
it said the structures also provide long life without the need for rust protection
bond said merlin has a 625 pct working interest plus a 25 pct reversionary interest in the papua new guinea permit ppl 17 the site of the iagifu oil discovery
terms were not disclosed
shr 82 cts vs 72 cts net 446 mln vs 389 mln avg shrs 543 mln vs 528 mln
shr profit 147 dlrs vs loss 26 cts net profit 146 mln vs loss 26 mln revs 225 billion vs 182 billion nine mths shr profit 182 dlrs vs profit 227 dlrs net profit 180 mln vs profit 224 mln revs 594 billion vs 555 billion
prior year net includes gain 4454031 dlrs from sale of minority interests in connecticut partnerships
the value of the distribution assumes yesterdays closing price of uals common stock of 5650 dlrs per share
he forecast the chancellors budget tax cuts would increase consumer expenditure on imported goods
rubber talks chairman cites slight progress
boards cannot expect protection from unwelcome predators for that is but a short step from saying that they should be protected from their own shareholders who are after all the proprietors of the company leigh pemberton said
the atpc hopes to cut the 70000 tonne world surplus by 20000 tonnes and boost prices
he also said import barriers and trade monopolies in the agricultural sector were needed to help domestic industry develop and because of over production and price intervention in the developed nations
lindberg corp lind 1st qtr net
earlier this month caesars world rejected the sosnoff takeover bid and said it is considering alternatives that include a restructuring or sale of the company to another party
weatherford wii suspends preferred payouts
projected cost savings in the current atmosphere of try to decrease farm expenditures would also be hard to ignore in the debate to expand the 0 92 application moos said
progress in the philippines talks following recent agreements with mexico chile and venezuela will help to dispel concerns of a new debt crisis mulford told the conference
the company will buy back its outstanding 797 mln dlrs of 770 pct debentures of 2001 at 10320 pct of par value plus accrued interest 599 mln dlrs of nine pct debentures due 1999 at 10315 pct per principal amount plus accrued interest and 50 mln dlrs of 9 1 8 pct debentures of 2000 at 103625 pct of par value plus accrued interest
shr 97 cts vs 81 cts net 608 mln vs 511 mln revs 4874 mln vs 5297 mln 12 mths shr 342 dlrs vs 218 dlrs net 2150 mln vs 1372 mln revs 274 billion vs 288 billion note 1986 results restated for change in accounting
the party daily said that losses in the industry owing to waste and theft amounted to 73 mln roubles over the last two and a half years
cross currency trading was also subdued though sterlings rise above 160 dlrs helped it to firm against the mark
non callable for two years the issue is rated b 2 by moodys and b minus by standard and poors
encors stock price has improved quite substantially in recent weeks with a runup in crude prices peters and co ltd oil analyst wilf gobert commented
brooks told the news conference that any purchase would be in the form of a management buyout and not a leveraged buyout
but de clercq said the gatt program had been reached after long and hard negotiations and the ec did not want changes
the package should save jamaica about 33 mln dlrs a year
the notes have an 8 1 8 pct coupon and were priced at 99375 to yield 105 basis points more than comparable treasury securities
opec will probably not do anything it hasnt already agreed to in december because oil prices are firm said john hill a vice president at merrill lynch futures
the rating agency will focus on fords long term competitive business and financial condition
it left its estimates of wheat and coarse grain stocks at end27of different marketing years unchanged at 178 and 210 mln tonnes respectively against 160 and 167 mln a year earlier
gulf states utilities co said its condition has significantly deteriorated and that its operating cash reserves will be inadequate by may 1987 unless it receives additional financing or rate relief from state public utilities commissions in texas and louisiana
it said the net loss from its soo line increased to 335 mln dlrs loss from 87 mln dlrs loss in 1985 mainly due to restructuring charges
castle and cooke inc cke 4th qtr loss
steel production 374 mln tonnes down seven pct
in a conversation later with local journalists gaviria said the us attitude would have serious economic and political consequences not necessarily for a country like colombia but certainly for other latin american nations and for some african countries
there are currently about 1700 woolworth general merchandise stores operating worldwide of which 1200 are in the united states
taiwans stock market plunged a record 7553 points to close at 180308
the assaults the most recent launched two months ago have caused an estimated total of 50 mln dlrs in damage
the fnv is not serious about our discussions and i am really not optimistic about it changing its point of view at all if we find this afternoon that the fnv still refuses to accept the necessary redundancies in the general cargo sector then we will break off the talks and the redundancies may begin later this month schoufour said
the purchase authorizations cover the entire quantity provided under the agreement signed march 11
the issue announced earlier today by the french bond issuing committee is of 5000 franc nominal bonds
if australia wants wheat to continue as a major export income earner governments and government authorities will need to closely examine ways of contributing to the continuing viability of the wheat industry he added
corn products has put a 650 mln dlr price tag on the installations and beghin say estimates that acquisition of the haubourdin plant would cost between 80 and 100 mln dlrs vernes said
after an initial dip in reaction to the bank lending data which compared won stg august rise uk government bonds gilts soared as investors continued to flee from plummetting equities into the relative security of government securities
ec commission defends farm program
but these credits cannot be approved until the export credit agencies agree to resume insuring the credits
soo line corp said it agreed to sell its lake states transportation division to the newly formed wisconsin central ltd
napco npco management cannot raise funding
rep
it said yugoslav finance minister svetozar rikanovic yesterday met world bank and international monetary fund officials in washington
the fire which started wednesday and burned for more than 24 hours destroyed the mines three year old conveyor system officials said
two small shipping companies reached a pay deal with striking seamen late yesterday but union leaders said most of brazils 40000 seamen were still on strike
integrated generics ign may sell 10 pct of unit
lsi logic corp is issuing a 100 mln dlr convertible eurobond due april 14 2002 with an indicated coupon of 5 3 4 to 6 1 4 pct and priced at par morgan stanley international said as lead manager
the only question is whether they will admit the whole thing in this estimate tate said it is possible the usda will lower its estimate by a lesser amount perhaps three mln boxes and continue to drop the estimate in subsequent reports as the crop picture clarifies
ge said it will buy back the notes at par plus accrued interest to but not including may 1
far east traders expect 20 dlr oil in january
the wholesale price index same base rose to 22983 in january from 22906 in december and compared with 21797 in january 1986
the underlying rise adjusted for factors such as back pay and timing variations had been steady at 75 pct from october 1985 to october 1986
bildner also said it plans to offer 25 mln dlrs in eurodollar convertible subordinated debentures due 2002 through underwriters led by painewebber group inc pwj and kidder peabody and co inc with proceeds to be used to finance expansion and reduce debt
imf urges belgium to make further spending cuts
bringing the franc close to the mark would of course have to be done step by step under the watchful eye of monetary policy he told shareholders
the bank of england said it forecast a shortage of around 250 mln stg in the money market today
larner said estimates of compensation claims were pure guess work at this time
its an illusion based on a misunderstanding of western economy theres a limit to how much you can go on giving someone who has no hope of repaying it another said adding that poland had benefited from a global phenomenon of easy credits in the 1970s which were no longer todays reality
nomura international finance plc is issuing a 150 mln dlr eurobond due april 28 1992 with a 7 1 4 pct coupon and priced at 101 1 8 pct nomura international ltd said as lead manager
chrysler c non profit group sells unit
opec has done pretty extraordinarily well everything is moving in its direction he added
shr loss one ct vs loss one ct net loss 483518 vs loss 220582 sales 381841 vs 400518 note 1985 net includes 196868 dlr gain from forgiveness o accrued interest due to affiliates
this committee which is composed of the independent non exective directors of the company was formed in april 1986 for the purpose of monitoring the relationship between standard oil and bp
the bank of japan actively bought dollars here in early afternoon trade at around 14220 yen dealers said
creditors debtors share responsibility weizsaecker
money supply growth was 114 pct last year
rtz sees rising us output aiding 1987 results
they speculated he may be one of the shareholders in talks with the bass group
national business loan data are scheduled to be released on friday
chinas top leader deng xiaoping said china must not import more than 10 mln tonnes of grain ming pao newspaper of hong kong said
there might have been some isolated storms but certainly nothing damaging said charles stichler an extension agronomist with the agricultural extension service in far west texas
most of it will be through import reduction but at least one third will be due to a rise in product exports as the prices of us goods become more attractive overseas
basic american medical inc said a proposed 82 mln dlr note issue will not take place at this time the company announced on jan 5 1987 that it received a proposal from irving trust co under which irving would issue its direct pay letter of credit for up to 835 mln dlrs to secure the proposed note
the owners are considering unloading part of the cargo onto barges
the stoppage has delayed exports at a time when brazil desperately needs foreign exchange
the income payments would be based on the amount of commercially recoverable sugar produced by a farmer in the 1985 or 1986 crop years whichever is less usda said
establishing lower levels of infestations
we are not yet ready to commit the hundreds of millions of dollars it would take for such a project slenniken said
its competitors are dow chemical co dow and monsanto corp mtc he said
but a seventh accord we believe to be unnecessary the sixth ita will expire at the end of june unless a two thirds majority of members vote for an extension
in its monthly report on the soviet grain situation the usda said imports will be higher than earlier estimated because soviet grain buyers have been actively purchasing in the last month
chatwal told members of the dallas financial community at a lunchtime briefing we go for prime locations everywhere and make sure our leases are very favorable as previously announced the company expects to report 1986 earnings of about 700000 dlrs or 31 to 33 cts a share on revenues of 85 mln dlrs
unidentified planes hit the field 100 miles off abu dhabi last november 25
finance minister kiichi miyazawa told parliament on friday the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
arbitragers however said they do not believe heyman is seeking greenmail or the repurchase of his stock by the company at a premium
saudi arabia bought 500000 tonnes of spanish barley last year
algeria has already purchased 300000 tonnes of us durum wheat under a previous export enhancement initiative announced november 10 1986 it said
barris ind
finlands current account in deficit in 1st qtr
currently captive venture capital stock is traded over the counter and will soon trade under the scan graphics name
ibc is made up of interstate management first boston inc fbc and george k
stewart and stevenson services ssss 4th qtr
the independent directors of viacom were called into a meeting today
manufacturers hanover which chairs a 12 bank advisory committee that agreed the terms of the deal in late february said all of chiles creditor banks have approved the package
current loss includes a 125 mln dlr writedown of oil and gas properties a 67 mln dlr writeoff of deferred charges a 225 mln dlr loss on disposal of uk properties a 212 mln dlr equity loss from affiliate sulbath exploration ltd and a 46 mln dlr loss on other investments
imatron said mitsui the exclusive importer of imatrons ultrafast computed tomography scanners into japan is scheduled to take delivery of its first scanner next month for installation in a large cardiology center
the venture expects to spend 65 mln dlr this year 105 mln dlrs next year and 125 mln dlrs in 1989 to build transmission lines from northern quebec into new england the utility said
he said the dollar had fallen much less against currencies of important trading nations such as canada korea taiwan and hong kong and further falls there may still be necessary
but keating said domestic demand could fall slightly this financial year and net export growth will provide the total source of gdp growth
the issue is rated aaa by standard and poors and secured by federal home loan mortgage corp freddie mac certificates
money supply in germany and the united states has grown very strongly in the last year and people want to take a ride on gold the gold market having seen strong gains in 1986 has languished just above 400 dlrs an ounce over the past few weeks
loh said oub investment management ltd a subsidiary of the overseas union bank ltd has teamed up with a uk firm to launch the union global fund
corona icrto favors royex rgmto offer
the company said qualified buyers of pontiacs may now select special finance rates of 39 pct on 24 month contracts 79 pct on 36 month contracts 89 pct on 48 mopnth contracts or 99 pct on 60 month contracts
dixons also said it is currently discussing the matter with the sec
meyer who had been executive vice president of honeywell information systems said honeywell bull would work closely with nec and bull in both developing new products and marketing computers to multi national companies
paper discounted with the bank also rose by 477 mln guilders to 916 mln
traders and analysts said the unexpectedly large yield increase outweighed the anticipated drop in box count
the immediate result was a 09 pct rise in consumer prices in january partly responsible for a forced revision in the official 1987 inflation forecast to 25 pct from two pct or less
southwestern public service co sps 2nd qtr net
chemical waste management inc chw 3rd qtr net
virtually all latin american leaders backed brazils suspension of interest payments on 68 billion dlrs of private bank debt last month though prospects of a chain default are still remote
at the same time many of the conditions for faster growth remain favorable it said citing low inflation in most major countries healthy corporate finances generally lower interest rates improvements in state budget positions and more flexible labor markets
i dont see any reason to change full year earnings estimates said frederick meinke analyst at ef hutton co
shr 22 cts vs 45 cts net 3100000 vs 5100000 revs 1034 mln vs 982 mln
amertek inc atekf year net
co manager is db asia finance hk ltd
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
viermetz said it was only natural that markets should attempt to test the credibility of the paris accord struck when the dollar was trading at about 183 marks and 15250 yen
the rediscount is the rate at which the bank buys back treasury notes
shr 39 cts vs not given net 707000 vs 505000 note company went public in july 1986
french trade with yugoslavia has grown little over the past two years
french ski equipment maker seeks euro cp credit
pillsbury said corporate expense showed a 43 mln dlr profit in the quarter reflecting a 105 mln dlr gain on the sale of a joint interest in an australian food company and lower corporate expenses largely as a result of an early retirement program initiated a year ago
the state gold mining corp of ghana granted the venture an additional 145 square kilometers in teberebie ghana contiguous to 115 square kilometers granted earlier
the committee also set conditions for the allocation of credits by banks to companies or individuals holding stakes in them and stipulates conditions under which the bank of italy could exercise its powers of control in the case of stakes held by banks in companies or other banks
it will market its products as apd cryogenics inc
another said the central bank seemed to be trying to push the dollar up above 150 yen
fees are 3 4 pct for selling and 5 8 pct for management and underwriting combined with 1 8 pct praecipium
he told by telephone from brasilia that the meeting involving brazil colombia and central american coffee producers will be strictly to review the coffee market situation
cochran a staunch supporter of a soybean marketing loan would support a soybean loan of 502 or 477 dlrs with a certificate buydown graves said
commerzbank ag was sole manager for the deal which was offered on one broker screen at less 1 1 2 pct
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
senate agriculture committee chairman patrick leahy d vt said he wanted to go to conference with the house as soon as possible on the issue but would have to study the matter further before deciding how he would vote on it
agrimont still wholly owned by montedison is taking steps to be traded on the milan exchange the company said
amour inc to make acquisition
in a filing with the securities and exchange commission parsow said it had bought all its 220000 orange co shares in the open market with funds from its working capital
he told the house appropriations committee the meeting demonstrated that the process is working he noted that the industrial surplus countries committed themselves to strengthen their growth prospects while the deficit countries agreed to reduce their domestic imbalances
in response to a question tsai said american cans investment in jefferies and co is very small we treat it as just another passive investment he said
the government has said it expects 1987 growth to be under two pct but some analysts believe it will be nearer three pct because prices for commodity exports have risen sharply
japans seasonally adjusted unemployment rate fell to 29 pct in february from the record 30 pct in january the governments management and coordination agency said
macmillan bloedel ltd said it will redeem all outstanding nine pct series j debentures on april 27 1987 for 349 mln us dlrs plus a premium of one pct and accrued and unpaid interest
bank of england offers early help in money market
qtr ends march one shr profit 10 cts vs loss 220 cts net profit 687000 vs loss 145 mln revs 683 mln vs 548 mln avg shrs 7018000 vs 6577000 six mths shr profit 38 cts vs loss 195 net profit 2596000 vs loss 128 mln revs 1299 mln vs 1133 mln avg shrs 6964000 vs 6568000 note figures for qtr and year prior include pre tax restructuring charge of 225 mln
theres a realisation now that you cannot leave things alone everyone agrees that the external trade imbalances ought to be adjusted one official said
qtly div 375 cts vs 375 cts prior pay april eight record march 16
funaro who is in rome today will fly to tokyo on sunday after having completed a week long trip to the united states france england italy west germany and switzerland
dutch insurer aegon nv aegnas plans to issue 200 mln guilder 65 pct six year bonds at an issue price of 10100 pct with 200000 warrants lead manager amsterdam rotterdam bank nv amro said
since 1970 weve been consuming oil at rates of 20 25 billion barrels per year while making new discoveries of only about 10 15 bilion barrels per year mcivor said
but the group also said in a letter last week to the company that the group had no financing
the merged company will issue to each golden rule shareholder 1 1 2 shares and one warrant
british politicians urge japan trade sanctions
shr 26 cts vs nil net 2244000 vs nil rev 34 mln vs nil note companys full name is universal health realty income trust
i surely did not see this happening he said of mondays stock market free fall
mayfair super markets said its sales for the second qtr ended feb 28 were 1220 mln dlrs an increase of more than 15 pct compared to sales of 1059 mln dlrs in the comparable quarter last year
it said it is continuing to work with investment bankers to find sources of new capital return its non performing assets to earning status and reduce operating expenses and liabilities among other things
one finance ministry economist said it isnt more
swithenbank has resiged as president and a director and john l
larger companies are also streamlining
the firm has said it bought the stake as an investment on behalf of its clients but said it has had discussions with shaer management
the stable exchange rate would help boost imports particularly from the united states
on dec 31 1986 company distributed remaining 804 pct interest in subsidiary to kay corp holders
norfolk nsc unit sells equipment certificates
supports dismissal of twa application for usair control
as part of this policy i am now able to announce that subject to market conditions the government will sell its remaining shares in bp during the 1987 88 financial year the last sale of british government shares in bp was in september 1983
audi said in january that 1987 car production would rise to over 400000 from 384000 in 1986 when output had fallen compared with 1985s 392000
the interest rate to be used to increase the cash value of the merger if delayed beyond april 30 was raised to nine pct from eight pct and 12 pct after may 31
colt inc both kansas oil and gas exploration companies said he bought the stock for investment purposes
it owns first granite city national bank and colonial bank of granite city ill
producers fear estimates may yet have to be adjusted down further
woods also said the ec was joined by the united states in criticising brazil for extending its list of products for which import licenses have been temporarily suspended so as to improve its balance of payments
the interest rate on the 5 1 2 year loan is the japanese long term prime rate flat
illinois regional illr mulls affiliation
but reagan was expected to assure chirac that he will not agree to a deal at the geneva superpower talks that would give the russians superiority in shorter range systems diplomats said
amt had until march 26 to lodge its appeal
official figures on the latest inflow of investment capital are not available but brokers said they received almost daily inquiries from japan and the united states
shr 30 cts vs 36 cts net 1211000 vs 1428000 revs 1536000 vs 1743000 year shr 136 dlrs vs 62 cts net 5438000 vs 2498000 revs 6567000 vs 2971000 note company began operations after its july 29 1985 public offering therefore annual data are not directly comparable
early march opec output seen well below ceiling
micropolis corp is raising 75 mln dlrs via an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said lead manager kidder peabody and co inc
previously only a simple majority of outstanding shares was needed to change bancrofts investment status from a diversified to a non diversified fund among other things
the centraal planbureau publishing its 1987 economic outlook said dutch net national income nni was expected to grow by one pct this year down from two pct growth recorded in 1986 and 25 pct in 1985 and 1984
swedens stora kopparbergs bergslags ab skps st said it had now acquired 90 pct of shares in rival pulp and paper makers papyrus ab thus passing the threshold above which it can compulsorily buy the rest of the company
nelson holdings unit in film pact
it offered one month funds at seven pct through swap facilities dealers said
shr 17 cts vs 17 cts net 777000 vs 595000 revs 129 mln vs 117 mln year shr 68 cts vs 48 cts net 2957000 vs 1614000 revs 494 mln vs 386 mln avg shrs 4344204 vs 3337284
japan security pacific has assets of 200 mln dlrs
dauster said stocks and exports to ico members and non members all need to be considered when setting quotas and that brazil would like to apply the coffee pact with a set ratio of overall quota reflecting stock holdings
a spokesman for preussag ag prsgf said it was not yet certain whether the company would pay a dividend on 1986 results he was commenting on a preussag statement which said results in 1986 were lower than in 1985
nippon telegraph and telephone corp ntt expects its profits to fall to 328 billion yen in the year ending march 31 1988 from a projected 348 billion this year the company said
weyerhaeuser reported 1986 earnings of 2767 mln dlrs or 191 dlrs per share on 565 billion dlrs in revenues
japans consumer price index base 1985 was unchanged at 997 in february from a month earlier the governments management and coodination agency said
the company said the it would receive 250000 dlrs in fees for providing the completion bonds
but the report said all the institutes believed that more must be done to produce dynamic growth so that more additional jobs can be created the institutes said any step which improved basic economic conditions should be taken as quickly as possible
payment date has been brought forward to march 27 from march 30 and the bonds will mature on march 27 2002
unless these are modified there are fears it would promote purchases of quality cocoas such as ghana origin which are normally required by manufacturers they said
international lease finance corp filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities in addition to 1575 mln dlrs of debt securities already registered with the sec but unsold
he said we at the federal reserve will have to be disciplined in our conduct of monetary policy heller said said the government should also exercise fiscal discipline and cut the deficit by spending restraint rather than new taxes
imports fell to 861 billion from 1012 billion a year earlier and 894 billion in january
the trade surplus doubled in february to 261 mln dlrs from januarys 129 mln but was below the 628 mln of february 1986 official figures show
moodys investors service inc said it may downgrade service merchandise cos 300 mln dlrs of ba 2 senior subordinated notes
evaluation of test results and preliminary engineering work should put petro canada in a position to propose a development plan for the terra nova field in 1988 the company said
the european community commission awarded export licences for 20000 tonnes free market french maize at a maximum export rebate of 12940 european currency units ecus per tonne trade sources said here
the world banks annual lending to latin america rose to 48 billion dlrs last year from three billion in 1984 he said
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
under the audited amounts 1986 fourth quarter income was 1098978 mln dlrs or 55 cts a share
caribou energy inc said shareholders have approved a one for 100 reverse split that will take effect by tomorrow and the company has changed its name to texas petroleum corp
the food department will cease trading in sugar and will no longer hold a buffer stock a senior official said
ecuadors consumer price index rose 25 pct in february to 5624 base 1978 the national statistics and census institute said
in addition to the amendments on eep the committee approved several proposals which could restrict imports of lamb casein sugar containing products and tobacco
the us said iranians used the platforms for military pruposes and had fired on an american helicopter from the rigs earlier this month
italy is to modify restrictions limiting the amount of lira cash that can be brought in and out of the country the foreign trade ministry said
the sia charged that the feds ruling violates the 1933 glass steagall act barring banks from underwriting most types of securities
standard and poors rates the issue a top flight aaa
bil chief executive paul collins said last week that he opposes the rainbow progressive merger because bil sees progressive shares as being worth twice as much as rainbows
first boston fbc swiss affiliate boosts stake
us credit market outlook prime rate
it was part programs and part that there was anticipation of an announcement of a spinoff or something with shearson this weekend and that announcement never happened one trader said
in the weeks that followed the dollar continued to fall against the japanese yen despite massive dollar purchases by the bank of japan and other central banks and is now trading at around postwar lows
the growing popularity of the scheme was underlined this week when american express bank which has joined the new mexican package said it plans to convert 100 mln dlrs of its own loans into an equity stake in hotel projects in mexico
exports were 905 mln dlrs against 929 mln revised from 971 mln in december and 816 mln a year earlier while imports fell to 858 mln from 895 mln revised from 928 mln in december and 888 mln in january 1986
piw said that refiners in the mediterranean can expect increased shipments from saudi arabia and other opec export refineries
microsemi corp a supplier of semiconductor products and assemblies said it has acquired the operating assets of hybrid components inc for 22 mln dlrs in cash
onyx also said the company is a 375 pct partner with westcoast petroleum ltd in a new oil well drilled in otter ogston area of central alberta that tested at rates of more than 1000 barrels a day from the granite wash formation
shandwick buys los angeles pr company
companies will probably only drill their best prospects said john curti an analyst with birr wilson securities inc
its not a taboo peter pietsch spokesman for commerzbank ag said
shr 30 cts vs 30 cts net 1804000 vs 1800000 nine mths shr 89 cts vs 79 cts net 533400 vs 4496000 note earnings per share reflect initial public offering of 534750 common shares in march 1986 and 2 for 1 stock splits in january and june 1986
columbia gas said the ferc decision would limit the recovery of certain gas contract costs by columbia gas transmission corp the companys principal pipeline subsidiary
drilling will begin in late april 1987 in 61 meters of water and will be drilled to a total depth of 3500 meters canterra said
he said it was profoundly unjust to blame it on recent increases in west germany
the dollar opened at 14765 yen against 14720 30 in new york and 14690 at the close here yesterday
allegis officials were unavailable for comment
sims said it was clear that wood products such as furniture tables and window frames would be considered manufactured goods and therefore ineligible for export credit guarantees
a fiat spokesman contacted by said the company had no comment to make on the possibility of a convertible bond issue saying any decision to be taken did not depend on fiat italian press reports that a bond issue was under study pushed fiats shares higher on the milan bourse today
miller said an economic slowdown could lead to lower tax revenues and a widening of the budget deficit
manila officials split over debt strategy
around 200 corporations satisfy financial standards set by securities houses for non collateral straight bond issues including electric power companies nippon telegraph and telephone corp and kokusai denshin denwa co ltd securities managers said
but today the pound has strengthened to 727 on its trade weighted index from 721 last night though the uk currency is below its days high against the dollar
the underlying trend which is a guide to bank of england operations to support the pound on foreign exchanges is net of borrowings and repayments
discount corp of new york said its board of directors increased its quarterly cash dividend to 20 cts a share from 15 cts a share
but in areas where the reform would take place there would be tough neotiations on how much you do and in what order should it take place he added
theres interest on the part of some countries for looking at the support of the special problems of the very poorest countries because their position is so extreme a reagan administration official said
water temperatures in the northern fishing areas are three to four degrees centigrade above normal but still not high enough to drive the fish to cooler southern waters it said
merrill lynch canada inc wholly owned by merrill lynch and co is considering acquiring another canadian securities company as the result of federal and provincial government moves to lift investment dealer ownership restrictions on june 30 according to a published report
operation of the plant to be jointly owned by amselco and nerco is set to start in october
colgate palmolive co cl sets quarterly
our aim is to maximise the benefit to the taxpayer
it is aiming for an average 128 pct share throughout the year after 117 pct in 1986
under the leadership of shad the sec eased financial disclosure requirements for publicly traded companies eliminated many minor investor protection rules attempted to spur competition among exchanges and streamlined the agencys review of hostile corporate takeovers
kenya devalued the shilling by 06 pct against the special drawing right sdr in response to the decline of the dollar last last week bankers said
it explained this interpretation was based on fercs april 10 1985 statement of policy which said that only take or pay buyout costs must be recovered through a general rate filing under the natural gas act
dow dow sees record annual profits in 1987
he accused industrialised countries of failing to provide more resources to implement the un program for africas economic recovery and development despite africas willingness to raise two thirds of the capital from domestic sources
the strikes have already cost a lot of money and damaged business and further delays would do even more damage zeebregts said
the company said it has a 20 pct working interest in the well which is flowing from lower frion tweedel sand perforations between 10104 and 10110 feet
the finance ministry has asked trust banks to moderate their dollar selling trust banking sources said
but a spokesman for manufacturers hanover trust co which chairs the 12 bank philippine advisory committee said a press conference with finance minister jaime ongpin will begin at the banks headquarters at 1430 est 1930 gmt
california microwave inc said it will take non recurring charges of 97 mln dlrs to pre tax earnings in the third quarter ended march 31
imports in 1985 86 are put at 1570 mln tonnes vs 1570 mln tonnes last month
duff phelps lowers beneficial corp bnl debt
two of those victims died and half the victims in their study of 45 patients had to be hospitalized for their illness
cargill inc of minnesota took two shipments totalling 83000 tonnes priced between 9200 and 9293 us dlrs per tonne c and f taiwan for september 5 20 september 10 25 delivery
longer term resorts is expected to benefit from a strengthened competitive position s and p added
qtly div 20 cts vs 16 cts prior pay april 24 record april 10
soybean cake and expellers 166 164 pellets 159 157 and meal 149 147 all for shipments june onwards
the utility has 350 mln dlrs of debt securities outstanding
rocky mount undergarment rmuc 4th qtr loss
the floaters have average lives of 785 and 156 years for maturities of 2012 and 2015
the bank of japan will sell 300 billion yen of government financing bills tomorrow under a 29 day repurchase accord maturing april 24 to soak up a projected money market surplus market sources said
goldman sachs international corp received forged bonds of a unit of exxon corp xon in a trade a spokesman for goldman sachs and co inc said in a telephone conversation from new york
the fcc has not said when it would rule on the appeals according to a spokemsan for akron ohio based gencorp
mercer also told the annual meeting that unless there is a major downturn in the economy it expects to work its debt down to normal levels in three years through its restructuring and cash flow from improved margins
caesars said sosnoffs offer to by all its outstanding shares of common stock was inadequate and not in the best interests of its shareholders
the dividend is payable april 15 to holders of record april 6
the planned psbr for 1987 88 was set at 40 billion stg
wells rich green handles procters pringles gain safeguard spic and span prell sure banner and oil of olay brands
new rubber pact appears in the balance
takeover speculation has surrounded santa fe since henley disclosed its stake in the company earlier this week but analysts and a santa fe official were skeptical a takeover is its intention
its a backward movement and goes against the governments liberalisation programme taiwan last year eased some of its financial regulations to enable taiwan nationals to invest in foreign government bonds treasury bills and certificates of deposit and to allow individuals to take 5000 us dlrs in cash out of the country each year
at 13 of the 14 terminals served by both carriers the dot said it found no evidence that other carriers could not increase or begin service that competed with a merged american aircal
enro acquisition also assumed most of the units liabilities including a 62 mln dlrs term loan
selling during the london trading morning was largely attributed to japanese institutions
a 7 1 2 basis point participation fee is payable on the transaction which started syndication this week
canada egypt wheat negotiations to continue
payment date is expected to be around april 1
the company named donaldson lufkin and jenrette securities corp as lead manager of the offering
french 13 week t bill rate rises to 854 pct from 765 bank of france
many of the major us firms including merrill lynch and co shearson lehman brothers inc and chemical bank trade for their own accounts here
until trends are clearer the market can only attempt to to establish and hold a new trading range at higher interest rates said economists at merrill lynch capital markets
ecolab inc ecl 3rd qtr oper shr
american nursery products ansy 3rd qtr net
the proposed sale will complete fruit of the looms previously announced plan to divest itself of unrelated businesses
nigeria opens talks with uk to reschedule debt
france has sold between 50000 to 100000 tonnes of wheat flour to china the director general of frances cereal intervention board onic bernard vieux said
safecard services sfcd sets split ups payout
danish unemployment rises to 79 pct in january
shr 55 cts vs 24 cts net 19 mln vs 800000 revs 176 mln vs 128 mln
deutsche group partial operating profits rose to 378 billion marks in 1986 from 292 billion in 1985 on a balance sheet of 25722 billion marks after 23723 billion
jp morgan jpm says dlr may prevent fed easing
sharp operates 38 offices in 20 countries
canada has threatened to stop imports of danish pigmeat from july 14 after canadian veterinary inspectors approved only two of 33 slaughterhouses a danish agriculture ministry official told 
measures were being taken to encourage exports and production incentives were being considered
consumer countries should not intervene in the distribution of coffee export quotas brazilian coffee institute president jorio dauster said
brand companies inc said it expects to report a 1987 first quarter loss of 15 to 17 cts a share on revenues of 20 to 22 mln dlrs
its montreal plant would provide ethylene as a raw material for the project
police said the five arrested on charge of fraud today included hiroshi ishikawa 47 former toyota shoji president and a sixth former executive was placed on a wanted list
for the government the one positive development on the labour front was the gradual return to work of the nations 40000 seamen who began a national strike on february 27
lyng says no decision on soviet eep offer
the may deficit compares with a surplus of 1555 billion lire in the corresponding month of 1986
the increase in reserves came despite a sharp cut in the number of wells aramco drilled to 33 in 1986 from 103 in 1985
melcher originally had proposed sending missions to mexico the philippines indonesia bangladesh senegal nigeria peru kenya the dominican republic costa rica malaysia venezuela tunisia and morocco
the companys proved developed and undeveloped reserves of crude oil rose slightly in 1986 unocal said
geodome said operating costs of the mine will average 201 dlr per ounce of gold for the mine life and 171 dlrs for the first three years in constant dollars
wiehn told a news conference deutsche babcock would double the absolute amount it distributes to shareholders
april deliveries of denaturable wheat were offered in east anglia at 124 stg and may at 125 stg per tonne both one stg down on yesterdays traded rates
receipt of the minimum amounts under the offer would give first boston sufficient voting power to assure approval of the merger without the affirmative vote of any other shareholder the company said
the january decline in sales was the largest since last october when sales fell 93 pct
we believe there will be some worthwhile progress in reducing the deficit this year
the spokesman said it was not clear whether the domestic group would show a net profit in 1986 adding this would depend partly on the level of provisions
sears savings has 66 billion in assets and 91 branches predominantly in southern california
k mart km says record 1986 net turning point 
belgian wholesale prices fell by 59 pct in january from a year earlier after a 57 pct year on year fall in december figures from the economics ministry show
a survey estimates opec output to be 147 mln bpd this week
terms were not disclosed
this is an unacceptable situation for us and its vegetable oils tax enactment would leave us no choice but to vigorously protect our trade rights and defend our access to the european market yeutter said
consolidated bathurst said the outlook for its europa carton unit is mixed
the bank of france will not hold a money market intervention tender today ruling out a further cut in its 7 3 4 pct intervention rate central bank sources said
guardian royal profit up sharply at 1438 mln stg
argentine corn sales to ussr lower usda report
fed offers to buy one billion dlrs of bills for customer after note auction
british sugar plc was forced to shut its ipswich sugar factory on sunday afternoon due to an acute shortage of beet supplies a spokesman said responding to a inquiry beet supplies have dried up at ipswich due to a combination of very wet weather which has prevented most farmers in the factorys catchment area from harvesting and last weeks hurricane which blocked roads
the meetings featured a gathering of the 10 directors of cipecs regional copper development and promotion centres which are based in europe japan india and brazil
iran foreign minister tells cuba of gulf situation
ldc food aid needs decline in 1986 87 usda
the challenge for our industry is to keep from getting carried away and repeating past mistakes gafs heyman cautioned
we have the worst behind us and have swept nothing under the carpet profits for the year up 194 pct from 1985 pre tax profits of 688 mln stg were mainly due to a high contribution from corporate finance activities and progress in asset management
dixons group said it accepts 54 pct of cyclops shares in tender
qtly dividend 52 1 2 cts vs 52 1 2 cts pay may one record april 17
british chancellor of the exchequer nigel lawson told journalists that one of the technical issues raised by greater coordination of exchange market intervention was the question of which currencies should be used to intervene and held in central bank reserves
geneva negotiators at un conference agree basic elements in new rubber pact chairman
the reserve was taken to offset a decline in the us dollar against the danish kroner and other factors adversely affecting sales of its danish manufactured medical products in the us market nuclear data said
possible reserves of 75000 tonnes grading 038 ounce gold ton at the break zone would extend mine life by a year with considerable potential for development of further oxide ore reserves at the deposit they said
the company said a definitive merger agreement is expected to be negotiated within six weeks and shareholders are expected to vote on the deal at a meeting expected to be held in june or july
oper shr 42 cts vs 41 cts oper net 2322000 vs 1785000 sales 723 mln vs 598 mln avg shrs 5527000 vs 4355000 year oper shr 148 dlrs vs 140 dlrs oper net 7637000 vs 5973000 sales 2617 mln vs 2247 mln avg shrs 5165000 vs 4277000 note 1985 operating net excludes gains of 1523000 dlrs or 35 cts a share in quarter and 5090000 dlrs or 119 dlrs a share in year from tax carryforwards
masse said the program will probably generate new employment equivalent to 20000 people working for a year
affiliated is the parent company of globe newspaper co publisher of the boston globe
unocal said its average sales prices for crude oil was 1267 dlrs a barrel worldwide in 1986 compared to 2381 dlrs in 1985 and its average sales price for natural gas was 203 dlrs per thousand cubic feet in 1986 against 224 dlrs in 1985
the crucial point here is that these are two friends and allies
the payment date is april 27
1985 operating net profit excludes an extraordinary gain of 47 cts
he pointed to the 33 pct growth in non oil gdp in 1986 and to a moderate 12 pct inflation rate
shr profit one ct vs loss 14 cts net profit 279000 vs loss 1896000 sales 1996 mln vs 1424 mln
the reduced contribution reflects the spin off from hong kong land of dairy farm international ltd last september
company operating in chapter 11 bankruptcy
national westminster bank plc said it has cut its base lending rate 05 percentage points to 105 pct today
in the prior year it earned 1650000 dlrs on sales of 451 mln dlrs
these moves would be taken only if tomorrows meeting of ministers in brussels again fails to reach an accord ec sources said
she said the fed bought bills maturing from may through september 24 for regular delivery tomorrow
powerine oil co said its refinery here will resume operation today with initial crude oil runs of 20000 barrels per day
the european community ec considers talks on agricultural trade reform to be inseperable from talks on other trade reform in the present gatt round willy de clercq external relations commissioner of the ec said
bci said in a statement that it is leading an international underwriting consortium of 25 banks and financial institutions
the company said it is evaluating both proposals
mellon said the loan loss reserve at the end of the first quarter is estimated to be 575 mln dlrs or about 25 pct of the loan book compared with 4938 mln dlrs or 217 pct of total loans at the end of 1986
the issue is guaranteed by fuji bank and payment date is march 17
italys overall balance of payments showed a deficit of 3211 billion lire in may compared with a surplus of 2040 billion in april provisional bank of italy figures show
the state department said on friday that iran has been told about us concern over the threat to oil shipments in the gulf
figures include extraordinary credit from tax benefit of 42 mln dlrs in quarter vs 23 mln a year earlier and 42 mln for year vs 56 mln year earlier
nippon life insurance co is pursing a possible link with an american securities house to expand its overseas investment portfolio a company spokesman said
science accessories corp said it has ended talks on acquiring privately held owl electronics laborarories inc because it could not reach satisfactory terms
holders will have the right to convert the notes up to the close of business on april 30
shr 152 dlrs vs 17 cts net 1306000 vs 144000 rev 758000 vs 670000 year shr 268 dlrs vs 263 dlrs net 2313000 vs 2285000 rev 28 mln vs 27 mln note fourth qtr and 1986 had gains on real estate investments of 933000 dlrs or 108 a share and 970000 dlrs or 112 a share respectively
progressive bank inc psbko 3rd qtr net
china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported
the non underwritten portion allows the issuance of one year cds as well
harris associates lp a chicago investment advisory firm said it cut its stake in cyclops corp to 437425 shares or 111 pct of the total outstanding common stock from 524775 shares or 133 pct
fairmount chemical co inc fmtc 4th qtr loss
the us agriculture department has lowered its ascs terminal prices for low protein hard red winter and hard red spring wheat at a number of locations a senior usda official said
tranche a which matures january 9 1993 is payable april 9 this year
precambrian shield resources ltd earlier reporting a large loss against year ago profit said the 1986 loss was mainly due to a 51187000 dlr writedown on its us operations uneconomic coal and other mineral properties
private sector economists emphasized that the commerce department was not revising down the deficit by 145 billion dlrs but simply presenting the figures on a different basis
spain deregulates bank deposit interest rates
rumors of an impending deal have coursed through wheat markets since officials from the two countries held their customary semi annual grain talks in february
petricioli reported that mexico has so far concluded eight bilateral accords with government creditors within the paris club
equicor sees year revenues to top two billion
sims denied published reports that us defense secretary caspar weinberger sought air cover to protect all neutral shipping in the western gulf from attacks by iran and iraq
fibronics international inc fbrx 4th qtr loss
the bank of france said it will offer 75 billion francs worth of negotiable treasury bills at its next public weekly tender on march 9
the auditors said their opinion was subject to first city eventually obtaining additional capital
pay date is april 24
the green coffee market saw some demand for high quality coffees in the past week but business was described as generally unsatisfactory trade sources said
nyse says general refractories grx no comment
in the past he has preferred to be less definite about the governments exchange rate policy lest it give foreign exchange markets set limits to test
in testimony today tom cook director of industry affairs for the national cattlemens association said the congress administration and the industry must take a strong tough and united stand to impress the japanese that we mean business and that we expect them to open their markets
us treasury secretary james baker again said the meeting of six major industrial nations in paris last month did not establish a target exchange rate for the dollar
the transaction is expected to be completed in may and subject to both boards approvals
shr primary 28 cts vs 22 cts shr diluted 26 cts vs 21 cts net 8637000 vs 6577000 sales 1403 mln vs 1168 mln year shr primary 92 cts vs 77 cts shr diluted 88 cts vs 75 cts net 283 mln vs 231 mln sales 5884 mln vs 479 mln
the suit also alleges that management the board of directors and first boston engaged in an illegal scheme of entrenchment through a combination of selling to first boston securities corp the super voting preferred at a bargain price the grant to the company employee stock plan of convertible voting preferred the six mln share open market repurchase program and the manner in which its financing has been structured
house of fabrics inc hf 4th qtr jan 31 net
to protect the buyers of the newly auctioned stock the bank has agreed to establish a so called fallow period a 28 day period during which it agrees not to issue any new stock of the same type and it will not necessarily resume selling the stock once the fallow period expires
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
cross and trecker ctco buys automation unit
bank of france sells 845 billion franc tap stocks
nwa shares rose 1 5 8 to 74 3 8 in active trading
entertainment marketing demands crazy eddie shareholder list may pursue merger
period ended dec 28 shr 42 cts vs 35 cts net 941000 vs 786000 revs 12798000 vs 2269000 year shr 97 cts vs 83 cts net 2211000 vs 1841000 revs 19027000 vs 6474000 note 1985 period ended december 29 share results adjusted for five for four stock split on april 28 1986 and 10 pct stock dividend issued dec 10 1986
bacob finance issues 50 mln australian dlr bond
the snyder owners other than painwebber are geodynes president michael w
he said they also did not reach a consensus on how willing international banks particularly those in japan and europe would be to lend the money
the treasury announcecement did not name the other countries nor the amount of financing the united states was willing to supply
it also said the court refused to require cyclops to provide cyacq with confidential information previously provided to dixons
unadjusted m 2 plus cds rose a preliminary 88 pct in january march 1987 compared with a nine pct rise a year earlier it said
many analysts in the private sector are now paying less attention to the figures presented in the budget and are using their own estimates of expenditure to draw conclusions for the money and capital markets
shr 13 cts vs 22 cts net 5452000 vs 9789000 sales 1557 mln vs 1351 mln note prior year net includes gain 6556000 dlrs from sale of shares of seagate technology corp sgato
this compares to a 04 pct gain in january us industrial production
a strategy had to be designed that helped the safeguarding of non inflationary economic growth in an international monetary system largely free of disruptions koehler said
foote mineral fte to merge into rio tinto
bank economists and dealers said a west german move to further lower the rate on securities repurchase pacts would result in the central bank easing the special advance rate provided the guilder mark relationship permitted
baker apparently sees no reason to speed up the sale
society for savings socs to offer notes
many in the market had expected a full one point cut in base rates today but some were not surprised by the authorities caution dealers added
applications at the lowest accepted price of 97625 stg were allotted around 81 pct of the amount applied for and applications above that price were allotted in full the bank of england said
he said about 12 brazilian orange juice exporters including three major shippers would be affected by the decision
pinola declined comment on what circumstances might move him to rekindle his bid for bankamerica saying only we continue to monitor and look at a lot of things and a lot of people continue to monitor and look at us banking analysts however consider another first interstate bid at bankamerica a long shot not likely to happen any time soon
the complaint was filed on behalf of clem eischen a portland area resident who owns 500 shares of avia and robert withers also of the portland area who owns 954 shares and other individuals who held stock at the time of reeboks announcement
gould inc gld offering of two mln shares of convertible exchangeable preferred stock through first boston corp and kidder peabody and co inc
the sec action deals with a waiver by dixons of a condition in the tender offer which was made without an appropriate extension of the offer dixons said
in the us where fixed rate mortgages are popular again securitisation has provided the bulk of mortgage money over the past few years
net includes pretax losses on disposition of product line of nil vs 3150000 dlrs in quarter and 3300000 dlrs vs 3150000 dlrs in year
construction group spie batignolles is negotiating to increase its holding in us engineering and electrical installations firm comstock spie batignolles a subsidiary of schneider sa schnpa said in a statement it was negotiating to invest 20 mln dlrs in comstock in the form of bonds convertible into shares
about 3314 head of cattle were auctioned in liniers cattle market against 13952 on wednesday and 9217 last thursday trade sources said
the fully underwritten program which expires this month has been extended to december 1990 and increased to 540 mln hk dlrs from the original 500 mln dlrs it said
bank of new york co said it and the management of rmj securities corp have agreed to sell 80 pct of their interests in rmj holding corp to british and commonwealth holdings plc and bank of new york expects to realize a substantial gain on the transaction
the report said the firmness in oil prices was likely to continue in the short term
caltex to raise bahrain oil product prices
under the rescue scheme for asahan in which 911 billion yen has been invested indonesia will also extend another 32 billion yen to the company
they said the fed would probably supply temporary reserves indirectly by arranging one to two billion dlrs of customer repurchase agreements
in particular we urge increased publicity for imf appraisals developed in article iv consultations the use of follow up reports on country actions to implement imf recommendations and greater use of special consultation procedures he said
final div 20 cents vs same making 375 vs same
general director hannes androsch said higher investment would lead to continuing growth in profits in future
amstutz told reporters following a senate hearing that if the soybean loan rate were 456 dlrs usda could then consider ways to make us soybeans more competitive
the standards are part of the recently announced convergence agreement between the two countries in which regulators have attempted to set similar capital requirements for institutions
a coca cola co spokesman said rumors the company is interested in acquiring wendys international wen are not true
he also said that to curb inflation salary increases would have to be below the inflation rate
the number of people actually receiving benefits under regular state programs totaled 2507000 in the week ended feb 28 the latest period for which that figure was available
the other arranger dealer is svenska handelsbanken plc
qtly div 21 cts vs 16 1 4 cts prior pay april one record march 17
translated from philippine pesos at 203489 pesos to dollar vs 185571 in quarter and 202315 vs 182743 in year
asked if opec would increase production if prices went above 18 dlrs a barrel he said this would be decided at the next opec meeting in june
royal bank canada brazil unit sees growth
non callable for two years the issue is rated ba 3 by moodys investors and bb by standard and poors
they can also employ these funds to invest in foreign issues while before they had to be converted into deposits
orders in honeywells home and building automation and control business were flat in the us and up in international markets it said
the report was released before the commerce department reported today that personal income rose just 02 pct in may after increasing 04 pct in april and that personal consumption expenditures had risen just 01 pct compared with a 06 pct increase the month before
one of cbt chairman karsten mahlmanns agenda items has been to proceed with renovation in the financial futures room the spokesman said
french exporters estimated that around 600000 tonnes of french soft wheat has been sold to china for delivery in the 1986 87 july june year
ec ministers have agreed to extend a quota production system while discussions continue on an industry plan for capacity reductions
on september 20 the friday before plaza it was 242
about 30 japanese commercial banks have outstanding loans totalling over 10 billion dlrs to brazil accounting for about 15 pct of all commercial loans to that country
at yearend 1986 aseas order backlog stood at 327 billion crowns or 48 billion dlrs up from 309 billion or 45 billion dlrs at the end of 1985
he said needed economic adjustment will require a relative shift of financial and real resources into internationally competitive industry
the company last month reported a 16 pct increase in 1986 net profits to 727 mln guilders after 623 mln in 1985
payment and closing date is april 23 and redemption will be on the same date at the end of each of the periods
general electric co said it will redeem on may 1 rca corps 75 mln dlrs of 11 1 2 pct notes due 1990
in a filing with the securities and exchange commission young which yesterday withdrew its 23 dlr a share takeover proposal said its other group member sdi partners ltd partnership sold 18300 sorg common shares between june 16 and 18 at 17 1 2 to 19 dlrs each
partly offsetting these inflows bills for repurchase by the market will drain some 785 mln stg while bills maturing in official hands and the treasury bill take up will remove about 546 mln stg
pc acquisition has instructed its depository for the offer to return promptly the purolator stock deposited by or on behalf of tendering shareholders hutton said
more than half of texas commerces nonperforming loans which totaled 968 mln dlrs at yearend 1986 up from 840 mln dlrs the year before were in real estate
a lot will depend on oil prices and developments on stock exchanges witte said adding he saw gold positioned for further rises once it breaks out above 450 dlrs
oper shr 78 cts vs 51 cts oper net 7030000 vs 4944000 revs 1266 mln vs 1209 mln year oper shr 159 dlrs vs 89 cts oper net 147 mln vs 9864000 revs 4251 mln vs 4169 mln note net excludes realized gains on investment of 73000 dlrs vs 4224000 dlrs in quarter and 6253000 vs 145 mln dlrs in year
it also said the cash payment is subject to proration
dow will spending about 650 mln dlrs on research and development in 1987 with an emphasis on new specialty chemicals oreffice said
deutsche babcock to increase dividend in 1986 87
quotas the major device used to stabilize prices under the international coffee agreement were suspended a year ago after prices soared following a damaging drought in brazil
ortiz mena told reporters that the banks member countries will discuss a plan by the united states to reduce the loan veto power from the current majority to 35 pct
the strike caused cominco to declare force majeure which means the company may not be able to honor contracts for products from the smelter and mine
south korea to pay more for japanese ethylene
china a major aluminium importer will open the first phase of its biggest aluminium plant on october 1 the china daily said
s p downgrades chase chemical irving manufacturers mellon and security pacific
outboard marine om officials hawking stock
saft a unit of cie generale delectricite of france said it bought uk based alcad ltd from penn central corps marathon manufacturing cos inc
turning to the question of britain eventually joining the exchange rate mechanism of the european monetary system ems lawson repeated that it is most unlikely we will enter before the next election he said britain was keeping the subject of full ems membership under constant review
the following rainfall was recorded in the 24 hours up to 1200 gmt today parana state cascavel nil ponta grossa nilcampo mourao nil londrina nil maringa nil
the group of seven the united states japan west germany france britain italy and canada therefore repeated their willingness to continue close cooperation to foster exchange rate stability
year 1986 net profit 6355 mln guilders vs 6034 mln
the multilaterals have been performing well the debtors have been performing well said the official
heller said that would mean the steady decline of americas banks in the world financial league tables would be arrested by permitting them to become more competitive
the february interim surplus was sharply up from a 96504 mln dlr surplus in the same january period
underwriters may include salomon brothers inc and goldman sachs and co
synthetic industries is offering 110 mln dlrs of senior subordinated debentures due 1999 yielding 11 5 8 pct said sole manager merrill lynch capital markets
currency futures to key off g 5 g 7 meetings
newmont realized 1168 mln dlrs in the transaction
s africa gold mining industry had record year
schering plough sgp obtains injunction
the loss of aid and sugar supports will cost fiji about 10 mln dlrs a year
calfed inc cal 3rd qtr net
this has hurt cane sugar refiners who rely on imported sugar processing
honeywell added that terms of the agreement with nec and bull allow it to reduce its current 425 pct stake in the new company to 199 pct at the end of 1988 by selling just over half its shares to bull
net income for 1985 has been restated due to a change in the method used in computing deferred acquisition costs
1986 net also includes gain on termination of pension plan of 2614000 for qtr and year and tax loss of 3605000 for qtr
lyng defends us export subsidy program
purolator had entered into a definitive agreement with pc acquisition part owned by ef hutton lbo inc a unit of ef hutton and some officers of purolators us courier division in which pc offered to purchase 6332471 purolator common stock shares for 35 dlrs a share
while japan has already done about all it can to make sure the chip pact is working the government is studying measures it can take in other fields to defuse american anger and ensure the trips success they said
s and p pointed out that resorts aggressive debt leverage is offset by the firms extensive real estate holdings in atlantic city nj affirmed were the b minus subordinated debt of resorts international and its financing unit
norways 222 pct share of the murchison field which like statfjord extends into the british sector yielded 15388 bpd in september a slight 920 bpd decrease from the previous month norwegian partners on the british operated field said
in addition it said koba electronics co ltd an affiliate of lifetime will buy four mln unissued shares or a 12 pct stake of nippon for 20 mln dlrs or five dlrs a share
six months to december 31 shr 14 cts vs 16 cts interim dividend one cent vs same group net 41 mln ringgit vs 47 mln pre tax 67 mln vs nine mln turnover 1008 mln vs 1121 mln note dividend pay april 28 register april 3
details were not immediately available
as part of the agreement the two companyies are working together to establish procedures to produce class s a stringent military specification for space use gallium arsenide components
henderson said the companys 1987 results would top 1986 income of 888 mln dlrs or 545 dlrs per adr on sales of 15 billion dlrs but he declined to specify by how much
h and r block hrb sees gains from tax reform
growth rates will pick up later however producing a 22 pct increase on average for the five year period
the committee said us technology export restrictions and selectiveness towards foreign contractors had denied british competitors more lucrative orders and largely excluded them from technological research for sdi
lyng opens japan talks on farm trade barriers
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
it said year to date sales increased 79 pct to 364 billion dlrs from 337 billion dlrs in the same 1986 period
tmoc formerly the moonie oil co ltd said the valuation was made in response to an earlier and still current bid of 255 dlrs a share by elders resources ltd elders resources holds 199 pct of tmocs 62 mln shares
last month dutch traders said the sugar on offer in the netherlands was belgian but the ministry could not confirm this
distillate stocks at 1087 mln barrels are 109 mln barrels above last years level the api said
western emergency an environmental services firm has annual sales of between one and two mln dlrs compared to international technologys roughly 240 mln dlr annual sales a spokesman for international technology said
they can do it for a day in terms of intervention an hour a week maybe but not over a period of time
operating profit 578 mln vs 520 mln making 172 billion vs 156 billion
the federal statistics office will today publish trade and current account figures for february a spokeswoman said in reply to queries
us refinery copper stocks fall in january
the market expects the seven nations the paris six plus italy to try to agree on another way to stabilise currencies apart from intervention a chief dealer at a us bank said
the sale by gallaher reflects a decision to dispose of more peripheral businesses
qtr ended sept 30 shr 40 cts vs 20 cts net 797000 vs 403000 sales 308 mln vs 273 mln
it also controls caesars new jersey inc cjn which owns an atlantic city nj casino hotel
vice economic minister wang chien hsien said the surplus will rise to about 20 billion dlrs by the end of the year
oper shr loss 14 cts vs loss 49 cts oper net loss 22000 vs loss 441000 revs 226 mln vs 136 mln year oper shr profit 14 cts vs profit 47 cts oper net profit 1952000 vs profit 2794000 revs 762 mln vs 564 mln note 1986 4th qtr and year oper net excludes a loss of 54000 dlrs for discontinued operations and a a gain of 218000 dlrs and 2393000 dlrs respecitvely for extraordinary item
transamerica also said its suit filed in state district court in harris county texas seeks injunctions against wyatt and coastal to enjoin them from interfering with its contractual agreements with its creditors
no reason was given termination of the negotiations
sales of previously owned homes dropped 145 pct in january to a seasonally adjusted annual rate of 347 mln units the national association of realtors nar said
prior year net excludes 1103000 dlr loss from change in accounting for textiles inventories
shr loss three cts vs profit 16 cts net loss 119000 vs profit 637000 revs 175 mln vs 158 mln
there was no specific requirement on shipping period
oper shr 105 dlr vs 51 cts oper net 141 mln vs 5669000 revs 1632 mln vs 1332 mln avg shrs 135 mln vs 115 mln year oper shr 65 cts vs 26 cts oper net 8664000 vs 1906000 revs 2878 mln vs 251 mln avg shrs 134 mln vs 8403562 note prior year 4th qtr and year oper net excludes 131 mln dlrs and 174 mln dlrs respectively for income from discontinued operations
the deficit compared with a deficit of 176 billion dlrs in february 1986
in addition to its fees merrill lynch said it will also get up to 17 mln dlrs from borg warner to cover its expenses in the tender offer
after citing the reasons why the fed probably has not tightened credit to the degree suggested by the data economists said the fact that the fed delayed arranging overnight injections of reserves until the last day of the statement period was a good sign of a more restrictive policy
ladd laddo unit completes acquisition
gowland said transcanadas offer is probably a fair price for the companys 361 mln acres of oil and gas land holdings
the lack of statutory marketing for oilseeds pulses and oats is a cause for concern if those crops are to comprise a high proportion of growers income awf said
the placement will be made through mcneil mantha inc
the pipeline said southwestern producers account for 46 pct of its total available gas supply this year
feds seger says us thrift industry needs stable interest rates
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
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 navy is unloading foodgrains at chittagong port following a strike by nearly 1000 dockworkers bangladesh shipping corp officials said
it is guaranteed by standard elektrik lorenz ag
the proposal is described by its promoters as a stabilisation program which would penalise a new sector going into massive overproduction and complement proposals to cut cereals and dairy production rather than a straight forward tax
cyclops corp said shareholders approved a previously announced merger of the company with a subsidiary of dixons group plc
credit agricole replaces bnp in hachette tv bid
dudley taft and narragansett in a joint statement said they intend to explore alternatives to achieve the acquisition including further talks with taft broadcasting
should the ec ban zimbabwean exports the country will be forced to sell its beef on glutted world beef markets at low prices the source said
there will be an underwriting margin of up to of 3 16 pct over the london interbank offered rate
morrison knudsen said the contract represents the largest army construction in this country since world war ii
newmont is spinning off 85 pct of its copper operations to its shareholders
bankers trust in new york said it would be premature to make a decision
shr 28 cts vs nil net 4568000 vs 7000 revs 375 mln vs 7835000 year shr 13 cts vs nil net 5011000 vs 30000 revs 1455 mln vs 510 mln note current year results includes revs of 872 mln dlrs from chocolate co inc which was acquired in march 1986
several leading farm state congressmen said they will press the us agriculture department to implement some kind of marketing loan to make soybeans exports competitive while protecting farm income
until now mannesmann has said only that it wanted to buy a 375 pct stake in fichtel from the heirs of ernst wilhelm sachs the grandson of the firms founder
there is a short first coupon of 825 pct payable june 15
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
american can issuing 150 mln dlr convertible bond
it is an internal constraint that exists because the imf debt cannot be rescheduled fernandez said
the company also said it is evaluating a plan to satisfy its obligations under its 10 7 8 pct subordinated notes but gave no details
iran said to test fire silkworm missile in hormuz
chrysler investor relations director everett scranton said through a spokesman that the french state owned car group agreed to forgive the debt as part of a complex payment for renaults 461 pct stake in american motors
the introduction of december into the calculations may lift the daily sdr price as december is currently quoted about 75 stg above may on the london terminal market
it holds 199 pct of borg warners stock
the facility will be available for 70 days and interest will be at 1 1 4 pct over the london interbank offered rate libor there will be a commitment fee of 50 basis points
henley group incs mw kellogg co unit said it was selected by chinese petroleum corp to design engineer and build a ethylene plant at chinese petroleums kaohsiung refinery in taiwan
if people are suggesting that we are going to make wholesale changes in pricing we are not considering this he said
oil minister hisham nazer told output is running at about three mln barrels per day bpd well down on saudi arabias opec quota of 413 mln set for the first half of 1987
he said unseasonably warm weather in late february that brought the wheat crop out of winter dormancy early was followed by three weeks of unusually cold weather
bolivia has frozen payments on medium and long term loans to commercial banks since march 1984 and nogales said there would be no money available to restart traditional debt servicing to them for some time
bp chairman sir peter walters will be chairman of bp america while robert horton is to be vice chairman and chief executive officer with frank mosier as president
south koreas leading indicators fall in december
harsco corp hsc sets quarterly
the oregon plant owned by fujitsu subsidiary fujitsu america inc now makes magnetic computer discs and will soon make printers
pepsis soda is still sold in the wendys restaurants
vanguard technologies international inc vti 
the auction will consist of 11 billion dlrs in 9 day bills and six billion dlrs in 20 day bills
liffe is preparing for an early listing of yen bond futures after receiving approval from japans finance ministry last december
norsk hydro eurodollar bond increased to 125 mln
heinekens spanish activities should start yielding profit next year heineken said adding that its french operations had already turned to profit after vast rationalization last year
mcclellan of merrill lynch research said most software companies are currently valued at about 20 times per share earnings
mtech said it granted the underwriters an option to buy an additional 1125 mln dlrs in principal amount of the debentures to cover over allotments
the diw said that even if the economy recovers in the remaining three quarters it was unlikely that demand and production would rise strongly enough to bring gnp growth up to 15 pct
noting that a shortage of power constrains pakistans economic development the bank said one objective of the project is to provide at least 200 megawatts of additional generating capacity
baird said the court also issued an order enjoining baird from enforcing the massachusetts anti takeover statute against mark iv industries
he said that sweet crudes such as those produced by his country were coming under price pressure because they were currently officially priced above sweet north sea grades and the united states west texas intermediate wti crude
the convertible eurobond issue announced yesterday for genentech inc geneo has been increased to a total of 150 mln dlrs from 100 mln credit suisse first boston ltd csfb said as lead manager
p and o shares stood at a late 616 27p lower on the day
1985 year net excludes 304000 dlr tax credit
us supreme court allows offshore alaskan oil and gas exploration
the bank said it would publish full final figures on march 30
it reported that pretax profits in the year rose to 3546 mln stg from 2184 mln previously on turnover higher at 3133 mln after 2522 mln
trenwick group inc tren 4th qtr net
shr seven cts vs two cts net 5500000 vs 4300000 revs 691 mln vs 1153 mln note shr after preferred divs
brazil has suspended the importation of 500000 tonnes of maize ordered last year because of the excellent domestic maize harvest expected this year agriculture minister iris resende said
varity earlier reported a loss for fiscal 1986 ended january 31 of 233 mln us dlrs compared to a year earlier profit of 39 mln dlrs
his petition said ucpbs plans to sell the shares to smc were a serious breach of fiduciary duties the smc sources said the proposed share sale could also be held up by a second derivative suit filed before the securities and exchange commission sec by eduardo de los angeles a government nominee on the companys board
currency target zones or reference ranges will not be discussed at the g 7 meeting which is scheduled for tomorrow the japanese officials said
they said market respect for the cartel has increased since it announced saturday that it would cut fourth quarter output to 166 mln bpd from the 183 mln agreed in december
marathon petroleum co said it reduced the contract price it will pay for all grades of crude oil one dlr a barrel effective today
a floating rate treasury note issue by the republic of austria is likely to be raised to 25 billion schillings from two billion due to heavy demand lead manager oesterreichische laenderbank ag olbvvi said
drilling of this years british sugar beet crop got off to a slow start due to poor weather conditions with only around one pct sown so far a spokesman for british sugar plc said
but there were also limits to the impact west germany could accept on exports from a rising mark he said
investor group has circle express cexx stake
the buyback authorization is in addition to a previous approval last september to repurchase 12 mln shares
swiss sight deposits rise 7437 mln francs
syndication of the loan is expected to start soon and it should be signed in shanghai next month
danish crops are up to two weeks behind normal growth levels due to the cold weather in may and june when mean temperatures were up to four centigrade below average the state plant cultivation bureau said in a report
overseas drilling activity is expected to follow a similar pattern kerridge said
call money fell in quite active trading today dropping to 340 50 pct from 355 65 pct yesterday and below the 350 pct treasury bill rate as a difficult month end approached
anglo american gold investment co ltd aagiy 
she said fords already good market share is expected to remain favorable and earnings from overseas are expected to improve
national sea products ltd 4th qtr net
british and commonwealth shipping co plc bcoml said that it would reorganise its commercial and service operations into a single public grouping with autonomous management
qtly div 15 cts vs 15 cts prior pay april 30 record april 14
it also may affect peanut cotton and tobacco imports committee sources said
middle south utilities inc will not consider payment of a common stock dividend until there is another ruling on a mississippi supreme court order rolling back rates at the companys mississippi power and light co subsidiary chairman edwin lupberger said
portugals economy which has been enjoying one of its most buoyant periods in more than a decade may now be strong enough to shrug off the countrys latest government crisis analysts said
it is just as important for australia to maintain a financially healthy technically advanced refining and marketing industry as it is to sustain oil exploration and production he said
arrivals from then should start to pick up sharply as pods from current flowering are gathered
seton said its board of directors unanimously approved the merger in a meeting held today
he said in an interview with that after a few years it was likely south korea would drop barriers to foreign goods and move toward a more balanced trade position
but mulroney sharply critical of protectionist sentiment in the us said canada was a fair trader and denied the government was pursuing the deal to win unfair access to the american market
the canadian consumer price index rose 04 pct in february to 1358 base 1981 compared with a 02 pct rise in january and a 04 pct rise in february last year statistics canada said
detailed consideration of the issue has been shelved during thatchers official visit to the soviet union which ends today
these further payments will only be made if profits achieved by gelco for the year ending july 31 1987 reach a certain level
rumours that us publisher harcourt brace jovanovich inc hbj might bid for reed a paper and printing company pushed reed shares up 54p at 600p at one stage today before they eased back to 564p at the close against a background of a widespread decline in uk equity prices
indias state owned oil india ltd oil said it received a 35 billion yen credit under an agreement signed with dai ichi kangyo bank of tokyo last week
aircraft attack iranian oil rigs in southern gulf
the plaintfiffs counsel are seeking fees of up to 10 cts per share jones and vining said
leutwiler was not involved with these talks and has not involved himself in the negotiations since last year the bankers said
the issuer in both cases was citibank na
on february six vulcan initially offered to acquire jones and vining for five dlrs a share but jones and vining dismissed the offer as frivolous and without substance and said the bid failed to comply with provisions of the securities act of 1934
japan warns us it may retaliate in trade dispute
homestead said the dividends are payable on april 6 to shareholders of record march 20
nippon steel corp nstct denied local newspaper reports that china has been seeking to buy steel plants from japanese firms which plan to suspend output under the recently announced rationalisation program
egypt authorized to buy pl 480 wheat usda
chiyoda is japans eighth largest non life insurer
the chain also owns among others the flagship san francisco examiner the los angeles herald examiner and the seattle post intelligencer
tiger international inc said it will pay the interest due april 1 on its 11 1 2 pct sinking fund debentures by distributing common stock
taiwan dollar and reserves seen rising more slowly
the repayment of the funds for the year to end march was in line with details given in the prospectus last year
rene rivkin head of sydney brokerage house rivkin james capel ltd said many brokers will resist anything that restricts their individuality and entrepreneurial spirit and this could leave new entrants into the business short staffed
baker stoltenberg and poehl had agreed to pursue the policies agreed under the louvre pact with reference to currency stability and monetary policy
keating said the government would maintain responsible economic management regardless of whether it was drawn into an election because it would take time to stabilise australias 80 billion dlr foreign debt
the hart scott roding waiting period on the takeover will expire june 17
banking sources in london had been quoted earlier as saying the british banks were balking at signing the package in an effort to get all participants to contribute equally to a new 77 billion dlr loan contained in the deal
the proposed acquisition by rosehaugh plc of the general funds investment trust plc was also cleared
net proceeds from the offering will be used to repay debt and to fund its capital expenditure program ramada said
tecsyn previously said it and its controlling shareholders accepted in principle a proposal from the group to offer nine dlrs a share for 70 pct of tecsyns outstanding shares
s p downgrades canadas province of saskatchewan affects 168 billion us dlrs of debt
rogers said it reached an agreement for the sale of its molded switch circuit product line to a major supplier
maize harvesting has also reached 36 to 40 pct of the area sown
lifetime corp said it agreed to buy five mln shares or 16 pct of nippon lace co ltd for 328 dlrs a share or 165 mln dlrs
since december nearly five mln french investors have bought shares in cie financiere de paribas paripa and glass maker cie de saint gobain sa sgeppa the first two state companies brought to the stock market under the 300 billion franc five year privatisation plan
the union represents about 2300 workers on the great lakes and canadas east and west coasts
the size of french 1986 87 carryover barley stocks estimated at 172 mln tonnes compared with 700000 tonnes in 1985 86 is worrying french cereals intervention office onic director bernard vieux said
proceeds will be used to repay short term debt issued in connection with quaker oats recent acquisitions and for other corporate purposes it said
it also said the stock and silver transactions will create a 37059000 dlr fund out of which dividends will be paid when cash is available
it has an upper limit of 250000 tonnes
we think that the settlement in the morning will have a salutary effect so that over a longer period of time i think this issue triple witching will go away because of the change in the structure as of next june when the move is scheduled to go into effect he said
woolworth holdings plc wlukl which earlier announced a 1986 pre tax profits rise of 42 pct over 1985 said its prospects for growth were very exciting
that was up from 2477000 the previous week
the full council was meeting at 1530 gmt to discuss the compromise which was put together yesterday by icco chairman denis bra kanon
the three 200 mln crown tranches are tranche a due may 16 1989 priced at 82 1 8 tranche b due may 15 1990 priced at 73 7 8 and tranche c due may 15 1991 priced 66 1 2
mitsui mitsy security pacific spc set pact
tesco yesterday launched a 1514 mln stg bid for the north of england supermarket chain which hillards promptly rejected
gros said brazil was likely to meet again with the 14 bank advisory committee once brazil had information to present on an economic plan
the court of appeal hearings include action between brokers and cases by brokers and banks against the itc and the member governments of the tin council
i think nakasones desperate said a us bank foreign exchange manager
they said production was conditional on approval of a water license and arrangement of appropriate financing
the measures proposed include a large supplementary budget and record public works spending in the first half of the financial year
next year block could have a bonanza buchbinder said
boeing ba to acquire defense electronics firm
taiwan imports all its soybeans from the united states
listing will be in london and the bonds will be sold in denominations of one mln yen
he said the takeover decision was made this week to stem the current heavy losses of sayam and to avoid competition between the two state owned institutions
the realignment following several weeks of speculative pressure produced a three pct revaluation of the west german mark and the dutch guilder against the french franc and a two pct revaluation of the belgian franc
the contracts wil accelerate the process and reduce the expense of swap documentation japsper said
imports rose to 708 billion from 533 billion last year
the situation is completely absurd from an economic point of view bangemann told the newspaper die welt in an interview released ahead of publication tomorrow
japan minister says about 170 yen appropriate
in the full year ended may 31 1986 the group earned a record 9882 mln dlrs
economists expect a rebound from januarys depressed levels
us warns of dependence on foreign oil
slifka and co said it bought 201800 purolator common shares between feb 3 and march 2 at prices ranging from 28689 to 34811 dlrs each
kresge is the forerunner of what is now the k mart chain
chee said corenes pora is an old disease which only affects certain rubber clones in sri lanka and indonesia and that further use of such clones must be discontinued
zccm the second largest employer after the government has said it intends to lay off 20000 of its 60000 workforce as part of the plan
speculation the united states will offer subsidized wheat to the soviet union appears to have reached a new level of intensity in the run up to secretary of state george shultz visit later this month to moscow
north side savings bank nsbko 4th sept 30
the bank of japan intervened in the market in the early afternoon buying dollars around 14730 yen and continuing to buy them as high as 14750 yen dealers said
the company said first boston has committed to provide all financing necessary to acquire such securities in the tender offer which is estimated to be about 500 mln dlrs
dealers expect volume of the tender to be lower than the 152 billion marks flowing out to offset other incoming funds
the rise was due to higher commercial banking and retail deposit service fees and higher foreign exchange revenue but lower securities commissions from international investment bank operations partly offset the gains royal bank said
it the government would have to choose between the demands of the imf and those of the people a ministry of agriculture economist said
the paper said reliable sources disclosed that the country is running a budget deficit it gave no figure
don manning will cede his post as chief executive but will remain president the company said
it said the dividend was payable april 15 to shareholders of record march 31
the proposed bonus and an increase in authorised capital to one billion one dlr par shares from 600 mln will be put to shareholders for approval at an extraordinary general meeting on may 26 the anz said in a statement
the company faces challenges to its two television and 12 radio station licenses partly becuase it failed to inform the fcc about allegedly improper foreign payments and political contributions
there is no special worry about the stock market in tokyo he added
a study group said the united states should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry
the us agriculture department said its summary report on the feed situation and outlook scheduled for release april 24 has been delayed until may 15
philippine trade secretary pleased with gatt talks
bcw was formed by becor executives and goldman sachs and co both deals are subject to shareholder approval
previous iso chief william miller retired at end february last year
the us agriculture department forecast the soviet 1986 87 wheat crop at 9230 mln tonnes vs 9230 mln tonnes last month
1985 net both periods excludes 57000 dlr extraordinary gain
we will monitor these developments closely and will continue to hope that they do not precipitate large declines in economic activity around the world aquino told a meeting of 13 major philippine business groups
gencorp has not commented on the offer
this compares with the banks forecast of a shortage in the system today of around 100 mln stg
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
after the spinoff which closes next month newmont will have gold operations including 95 pct of newmont gold co ngc a 15 pct stake in its copper unit and energy operations toufexis noted
terms were not undisclosed
washington wants the iadb to impose greater conditions on lending and has threatened to block increased appropriations for the bank if it does not get its way
marble financial corp mrbl 1st qtr net
these are encouraging factors but the war has not ended yet he said
shr three cts vs nil net 328112 vs 6374 revs 1401155 vs 846253 note full name is intelligent business communications corp
the bristol and west building society is issuing a 250 mln dlr multi currency certificate of deposit facility said kleinwort benson ltd one of the appointed dealers
us treasury sets 10 billion dlr march 24 2 yr note sale 9275 billion new
drawings will be at 10 basis points over the london interbank offered rate plus mandatory liquid asset requirements or a 10 basis point sterling acceptance commission
public authorities net holdings at the bundesbank fell to 22 billion marks in the last march week from 44 billion the week before
equiticorp holdings ltd equwwe now owns or has received acceptances representing 5993 pct of the issued ordinary share capital of guinness peat group plc gnspl equiticorp said in a statement
nazer said he was satisfied with the extent of cooperation from non opec producers
assuming an average exchange rate of 171 swiss francs to the dollar this year against 169 in the second half of 1986 the report forecast a 275 pct rise in exports and a 35 pct rise in imports this year after rises of 325 pct and 65 pct respectively in 1986
honeywells actual loss in 1986 was 833 dlrs a share
ipecode said demand and production would develop in parallel this year in contrast to last year when production was unable to keep pace with the strong rise in domestic demand unleashing higher import demand
moodys affirms avco units long term debt
hartnell said that while a when issued facility was crucial to market makers adaptation to the new system he would also have liked to see an extension to the fallow period proposal made by the bank of england
great american first savings gta 3rd qtr net
grain reports improve us farm outlook analysts
low yields from the countrys ageing coffee plantations and prevalence of the fungal disease hemileia vastatrix also contributed to the poor performance the sources said
the dividend includes five cts attributable to the period between dec 23 and 31 1986 and 50 cts attributable to the first quarter of 1987 ending march 31 1987
these activities elevate the risk content of merrills balance sheet at the same time as low profitability inhibits the strong internal capital generation which may be necessary to support business expansion efforts moodys said
danish unemployment falls to 78 pct in february
but there was extensive damage to the central part of the 32000 bpd hydrocracker which upgrades heavy oil products to gasoline and it will be out of operation for some months
but he said the impact on the belgian economy will be limited due to recent agreements on wages and working conditions agreed by employers and unions
murgold resources mgdvf details assays
the philippine proposal together with argentine suggestions that exit bonds be issued to end the troublesome role of small banks in the debt strategy would help to underpin the flagging role of private banks within the plan the official said in an interview with 
they said it would take about two months and at least 15 mln dlrs to build the pipeline from lago agrio in ecuador to puerto colon colombia for connection to the colombian pipeline which goes to the port of tumaco on colombias pacific ocean coast
at the same time gros told reporters not to expect any dramatic developments before march 31 the date when some us banks have said they will take a decision whether to put brazil loans on a non performing basis
american can cop said it has filed a shelf registration covering 500 mln dlrs of debt securities to be issued from time to time
the coincident index also rose an annualised three pct in december against zero movement in november and a seven pct rise a year earlier westpac and the institute said
analysts said there was speculation gaf would make a new offer for the chicago based plastics and automobile parts company
total enrollment so far in the 10 year conservation program is 89 mln acres
also among the issues are 24417 mln dlrs of class j three bonds to be fully paid by may 2015 and priced at par to yield 826 pct and 11491 mln dlrs of floating rate class j four bonds to be fully paid by the same date and priced at par to yield three month libor plus 050 pct
saga spokesman roy halvorsen told he expected gabonese officials would reply to the application by easter
but the past five years of declining revenue have taken their toll
moodys continues review of texas air tex unit
the association said it is asking for a five per cent cut in wages for the next three years reduced crew levels and the power to restructure crew dispatching
gatx corp gmt 3rd qtr net
he said the secs responsibility was to provide full disclosure for securities including junk bonds and not to make decisions based on merit
new interest rates on two year and one year deposits at banks for example will be 364 pct and 339 pct per annum respectively
after explaining to the captain that the strikers faced up to one year in jail because the strike was illegal the men returned to work
shr five cts vs nine cts net 560000 vs 1247000 revs 7597000 vs 4619000 year shr ten cts vs 17 cts net 1225000 vs 2161000 revs 265 mln vs 233 mln
the outflow will be partly offset by 340 mln stg exchequer transactions
the balance of the cash in the trust will be held by the trust until april 29 and will be used to satisfy all ouststanding liabilities and obligations of the trust
uae oil minister oteiba visits egypt agency
shr loss 28 cts vs profit seven cts net loss 107 mln vs profit 5188000 sales 1193 mln vs 2161 mln year shr loss 580 dlrs vs profit 30 cts net loss 3242 mln vs profit 215 mln sales 5493 mln vs 8591 mln note share after preferred dividends
domestic real demand increased 06 pct in october december after a one pct rise the previous quarter
1985 year oper net also excludes a loss of seven mln dlrs for change in inventory evaluation method
echlin has agreed to limits on buying additional champion shares and its ability to seek control of champion during the next seven years champion said
proposed offerings recently filed with the sec
recent sugar fall sparks soviet chinese buying
seasonally adjusted figures issued by the central statistical office cso show the current account was in deficit by 760 mln stg against an upwardly revised third quarter shortfall of 930 mln
johnstown consolidated realty trust jct net
greyhound officials told late today the company hoped for icc action on the merger by tomorrow
japan line officials declined to comment
royal dutch shell us earnings sharply lower
a preliminary duty of 854 pct was set last oct 17 on the imports which run at about 700 mln dlrs a year
it said each 1000 dlrs principal amount of the debentures is convertible into about 30075 common shares at the conversion price of 3325 dlrs a share
domestic turnover fell 26 pct to 283 mln marks from 380 mln
bank of japan intervenes shortly after tokyo opens
the transaction is subject to approval by shareholders of both companies
this will only come once the overseas markets have had their run
pnb later foreclosed on deltas assets
zimbabwe confirms hoof and mouth disease
they said a forced cut in foreign exchange positions would worsen the local liquidity problem as commercial banks would have to convert about five billion baht worth of foreign currencies in their portfolios into baht
asca administrator milton hertz said in a statement that the extension was necessary because of heavy workloads at county ascs offices
this compares with the banks estimate of the liquidity shortage of around 450 mln stg raised from its early forecast of 400 mln stg
venezuela has obtained more than 300 mln dlrs in financing for industrial projects and has also increased its lines of credit for import financing finance minister manuel azpurua said
he must have missed the last two years of federal tax reform by sleeping as soundly as rip van winkle stark said
sales of new single family homes tumbled 149 pct in may from april levels because of higher mortgage interest rates analysts said
paco pharmaceutical pps 2nd qtr feb 14 net
among other measures the ipma also decided that the criteria for membership should be tightened to exclude some of the smaller firms
shr 22 cts vs 57 cts net 504808 vs 1281781 revs 633119 vs 1396703 nine mths shr 87 cts vs 132 dlrs net 1959385 vs 2986379 revs 2342322 vs 3346555 note full name of trust is travelers realty income investors
she also denied reports that the company was considering an issue of convertible bonds with warrants in the us were not thinking of issuing bonds she said
according to the letter to company employess dayton hudson management has moved in two directions to fend off a takeover
it is requesting metromedia pay 100 pct of the principal amount plus a default amount equal to 575 dlrs per 1000 dlr principal amount of the debentures
if exporters or importers can raise funds in yen they will be more willing to agree to using the japanese yen as a settlement currency he added
avaq said it offered pusuant to gates guidelines six dlrs per share plus the purchase of gates corps promisary note for 23 mln dlrs
the three oilfields have been raided several times in the past three years
treasurys baker forecasts reduction in japanese trade surplus this year
portuguese unemployment steady in first quarter
the officials told yesterday the offer was made last week by navy admiral william crowe chairman of the pentagon joint chiefs of staff during a middle east visit
doubts about accord seen weakening dollar further
the minister said he wants to tell us political leaders of the sacrifices japan is making to cut its trade surplus
the company said a preliminary estimate of the geological resources of one of the properties to a depth of 200 meters indicates a potential of 12 mln ounces of gold and by the middle of 1987 it expects to establish proven ore reserves containing at least 500000 ounces of gold
maize production is targetted to rise by 48000 tonnes or 48 pct and exports by 34000 tonnes or 45 pct
rank organisation plc rankl said trading in the current year had continued satisfactorily taking into account seasonal fluctuations
ec minister sees oils tax still in negotiation
britain has reaped profits by using a stronger pound to buy back dollars used by the government last autumn to support sterling during a currency crisis chancellor of the exchequer nigel lawson said
the imposition of new taxes would tend to rekindle inflation and certainly would not make us more competitive in international markets heller said
shr 275p vs 243p div 395p vs 334p making 65p vs 55p pre tax profit 851 mln stg vs 723 mln turnover 7026 mln vs 6467 mln tax 184 mln vs 152 mln finance charges 41 mln vs 54 mln minority interest 01 mln vs 05 mln extraordinary debit being closure and restructuring costs 49 mln vs 37 mln operating profit includes pharmaceutical 498 mln vs 390 mln scientific equipment 232 mln vs 192 mln horticulture 80 mln vs 87 mln note company said it plans one for one capitalisation
one senior corporate finance manager in riyadh said banks are still reluctant to lend there is certainly more optimism in the air but i am not sure if it is firmly based some businessmen and bankers point out that government spending is still under tight control and the non oil economy may still be contracting
merrill lynch and co recommended today by a painewebber analyst rose 2 5 8 to 45 3 8
previously zico had bought 965000 bancroft shares for 31 dlrs a share giving it about 28 pct of the company
baldrige referring to the us japan trade agreement on semiconductors said their government wants to live up to it
rexnord inc said it expects to merge with a wholly owned subsidiary of banner industries inc in early may
daniel lee an analyst at drexel burnham lambert inc said that although sosnoffs relatively low bid may attract other suitors willing to pay a higher price for caesars there is little likelihood that a competing bid would start a battle for the company
lexs existing automotive interests include volvo concessionaires the sole importer of volvo cars and parts into the uk lex said the turnover for sears motor group in the year to 31 december 1986 was 242 mln stg and that at the date of the acquisition the group had about 50 mln stg in external borrowings
but if such movements were due to extraneous factors lawson said the other pact countries would come to its aid through concerted intervention on the foreign exchanges
lilco was seeking to include costs totaling 118 mln dlrs for the abandoned nuclear power plant project in its rate base a spokeswoman said
sainsbury shares had fallen five pence before the announcement to 590p from last nights close but were unmoved by news of the deal
this was partly due to west germanys inability to uncouple itself from us interest rate trends but also reflected concern among monetary conservatives in the bundesbank central bank council about excessive monetary growth which raised fears of domestically produced inflation bank economists said
guadalco has a processing capacity of 250 tonnes a day of sunflower seeds and 12000 tonnes a day of raw cotton
many banks said that they had for some time been providing more than the legal minimum of information
the cccs total net realized loss from operations amounted to 194632 mln dlrs for the two months ended november 30 1986 compared to 12016 mln in the same period a year ago
april 30 end shr loss 13 cts vs shr profit 12 cts net loss 4116000 vs net profit 3672000 revs 611 mln vs 555 mln avg shrs 32263000 vs 31640000 12 months shr loss 86 cts vs shr profit 42 cts net loss 276 mln vs net profit 13 mln revs 1749 mln vs 1893 mln avg shrs 32184000 vs 30938000 note both 1987 and 1986 figures restated to reflect april 21 1987 acquisition of distribution management systems inc accounted for as a pooling of interests
the supreme court spokesman provided no other details
the ship set off this morning from the dardanelles port of canakkale with flags flying and watched by sightseers the agency said
world bank president barber conable said he believed brazils decision to suspend foreign debt interest payments is temporary
in my view its not a matter of if but when the price for copper will improve because there arent that many new projects coming on and demand short of a major recession will continue to grow modestly said executive vice president douglas yearley
industry sources said texas pacific has submitted lower reserve estimates for the field than statoil and shown little interest in its development
the payment date is may 5 and there will be a long first coupon
the stock consolidation is something were discussing but its not definite sand technology president jerry shattner told in an interview
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
a us department of agriculture analyst in washington has said the figure of nine mln hectares would equal about 25 pct of the total winter crop and would be the second highest winterkill in 10 years
in connection with the program the parent has issued a letter of intent which is not a guarantee but states the parents intention to make sure a subsidiary meets its financial obligations
haerri said the company had been criticized for maintaining bauxite rights as an asset and so had restated the accounts
he said earlier today that brazil was first approaching governments before talking to the commercial banks themselves about the interest payment moratorium because the banks have some limits its a political discussion from our point of view funaro said on friday that his talks with us officials had resulted in no new financial arrangement to help resolve brazils debt crisis describing the meeting as an initial contact
caterpillar cat reaffirms first quarter outlook
enviropact inc said it has signed a letter of intent to acquire willms trucking co inc for about 125 mln dlrs with completion expected in 45 days
there were only trace amounts of platinum and palladium the company said
analysts said the rate is under upward pressure partly from settlement of 825 billion dlrs of five year treasury notes
effective march 23 the debentures will be listed as the debentures of louisiana land llxoo
shr not given oper loss 5900000 vs profit 9300000 revs 1053 mln vs 1312 mln year shr not given oper loss 217 mln vs profit 347 mln revs 3707 mln vs 5151 mln note 67 pct owned by british columbia resources investment corp note continued 1986 qtr excludes extraordinary loss of 36 mln dlrs versus loss of 2940 mln dlrs in prior year 1986 year excludes extraordinary loss of 791 mln dlrs versus loss 2215 mln dlrs in prior year
he also took exception to us proposals to require countries with large current account surpluses with the us to cut those surpluses or face special tariffs
burdensome supplies have pressed the market down from 130 dlr a pound in february when the organizations discussions aimed at re establishing export quotas broke down
last year about 18 pct of the utilitys revenues came from new mexico 70 pct from retail electricity sales in texas and 12 pct from wholesale sales under federal regulation
it seems from at least their dealing with raider irwin jacobs that they dont want to be taken over
earlier webcor reported a third quarter net loss of 18 mln dlrs and nine months net loss of 40 mln dlrs
the 1987 loan rate is too high relative to corn and is encouraging an expansion of soybean production in south america he said
it said international operations reported a net after tax loss of nine mln dlrs compared with a 52 mln dlr profit last year
goodyear tire gt details 1986 tax refund
nippon signal to issue 50 mln swiss franc notes
the central bank bought 108 mln stg of bills for resale to the market in equal amounts on april 1 2 and 3 at 10 7 16 pct
he expects the company to earn four dlrs a share in 1987 as compared to 334 dlrs a share last year
bat said in 1986 it had sold 88 batus stores in the us for 644 mln dlrs and sold grovewood securities for 142 mln stg
those who believe the fed tightened policy in the latest statement period have to explain why it acted before the dollar tumbled said mccarthy of merrill lynch
us minerals exploration co said it and pegasus gold inc pgulo of spokane wash officially commissioned a new gold zinc and lead producing mine
analysts are calling it unchanged to slightly up or down for the week ended march 20
terms were not disclosed
for all of last year it earned 109 mln dlrs
earlier today however the securities and exchange commisssion ordered dixons to extended its tender offer until march 24
qtly div six cts vs 4 1 4 cts prior pay april 10 record march 23
durum 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 121 121 100 100 production 95 95 113 113 ttl supply x 221 221 218 218 domestic use 54 58 44 44 exports 85 80 53 53 total use 139 138 97 97 end stocks 82 83 121 121 note season begins june 1
in the mediterranean prices firm in lavera as algerian supplies were not always available
high point is trading at 22 dlrs a share in the over the counter market according to ryan beck
conditions will be set on march 11 and payment date is march 30
qtly div 15 cts vs 15 cts prior pay april 30 record april 15
qtly div 25 cts vs 25 cts prior payable may 6 record april 24
the renault statement quoted chrysler chairman lee iacocca as saying we welcome amc shareholders into the chrysler family he added that the accord would allow renault and chrysler to study the development of future products destined to be distributed by renault and chrysler in the north american and world markets
the actions increase the value of credit guarantees for vegetable oil for the current fiscal year to 38 mln dlrs reduce the guarantee coverage for sales of wheat to eight mln dlrs and increase the coverage for sales of mixed poultry feed to 10 mln dlrs
finance minister dilson funaro currently on a global tour to seek governmental support for his efforts to solve brazils 108 billion dlrs foreign debt crisis said creditors have expressed willingness to help
terms were not disclosed
bids close mid morning local time on monday
other owners are kerr mcgee corp kmg with 1666 pct and prudential insurance co of america with 334 pct
if they do its not evident it looks like theres no cure but to let the free market take values to where they should be
in the 20 trading days of february the average daily volume of business was 406 billion stg against an average of 397 billion in january which had 21 trading days
honeywell hon debt rises on sperry buyout
the facility would buy up some of the debt of less developed countries and sell it to banks at a discount
one company official privately estimated that british telecom still had a 99 pct share of the uk telecommunications market but feared that this could slip to 95 or 90 pct
chitambala also said that the state run zambia consolidated copper mines zccm had closed its liaison office in johannesburg since it was now redundant
1985 excludes discontinued operations loss of six cts a share in the quarter and loss of two cts in the six months
in a report diw disputed arguments by other economists that the economy was showing mixed development with domestic demand healthy but foreign demand weak
however grain trade analysts said the proposal has not been ruled out and that an offer might be made though not in the very near future
us says canada complying with lumber pact
burke were also named directors expanding the board to five summit added
the outbreak has forced the government to ban the use of 57 insecticides on rice because it was believed the wereng are now resistant to these varieties and to use lower yielding more resistant rice types
sierracin corp ser 4th qtr net
ronald glantz of montgomery securities said amc common stock could be fairly valued at just under five dlrs a share given changes brought by tax reform and that chryslers offer to pay four dlrs a share of chrysler stock to amc holders other than renault as a a good price for chrysler
in looking ahead to the us treasury mini refunding auctions of 2425 billion in t notes on tuesday wednesday and thursday singer said the market will likely greet the results with little excitement
comshare inc csreo 1st qtr sept 30 loss
an agreement reached last year allowed for the conversion of the short term debt covered by the standstill into three year loans
producers will be informed by the local offices when applications are being accepted it said
fees total 1 7 8 pct with 1 1 4 for selling and 5 8 for management and underwriting
jan 31 end shr 364 dlrs vs 316 dlrs net 1713 mln vs 1540 mln sales 344 billion vs 323 billion avg shrs 471 mln vs 488 mln year oper shr 623 dlrs vs 588 dlrs oper net 3019 mln vs 2866 mln sales 1051 billion vs 998 billion avg shrs 485 mln vs 488 mln note latest year net excludes 143 mln dlr charge from loss on early debt extinguishment
denomination is 1000 dlrs
it said gold production in the first three years should average 50000 ounces per year
canadian imperial bank added that cardholders will be allowed to choose between the 15 ct transaction fee or the six dlr yearly card fee
bernsteins sandi sweeney is recommending a group of oil service companies and said choosing among them is difficult
ftc urges veto of georgia gasoline station bill
qtly div seven cts vs seven cts prior pay june one record may four
excluding defense orders rose 38 pct compared with a revised january decline of 77 pct
the communist party newspaper said sugar sales had increased by one mln tonnes a year enough to be turned into two billion bottles of moonshine
nzi has 6734 mln ordinary shares on issue
current year net includes provisions for loss on investment in preferred stock of 4000 dlrs in quarter and 15000 dlrs in nine mths
shr 11 cts vs 22 cts qtly div 10 cts vs 10 cts prior net 548254 vs 1138978 revs 28 mln vs 311 mln year shr 50 cts vs 134 dlrs net 2527846 vs 6822293 revs 1117 mln vs 1189 mln note qtly div payable december 4 to shareholders of record november 13
it earlier forecast that its current account surplus could reach eight billion dlrs this year
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
privately held clayton and dubilier inc said it has sold w
i think we are beginning to see more calm in those markets seger told reporters after a speech to the us league of savings institutions
msuya said regular petrol would go up 52 pct with similar increases in the cost of premium and kerosene
profits of many thai banks fell sharply last year partly because of a mismatch of loan demand and bank deposit growth
wean united inc wid 4th qtr
eight pct headed vs 27 pct a year ago and 17 pct average
k mart corp said it was opening branch offices of first nationwide bank in 21 of its stores in florida
uae trade current account surpluses narrow
lyphomed inc is raising 70 mln dlrs through an offering of convertible subordinatred debentures due 2012 with a 5 1 2 pct coupon and par pricing said lead manager alex brown and sons inc
johnson geneva said the buy out was accomplished through onpraise ltd a hong kong company controlled by johnson geneva chairman michael johnson
soviet imports of soymeal may reach or exceed one mln tonnes between january and september this year the oil world newsletter said
guillaume told the conference the government will make available 24 billion francs 396 mln dlrs to help producers reduce milk output and to encourage older farmers to retire
forest city feca completes sale
the banks gave no reason for ending the talks which began on january 14
the analysts made their comments before simons remarks at a bp press conference in new york this afternoon
sosnoff said he believes the offer is fair to all shareholders
end users would also buy other origins grain traders said
the slowdown in price rises was mainly due to a government imposed price freeze which came into force on february 4 the bureau added
he ruled out a much higher volume of exports or up to 135 mln bags as mentioned in market circles because the idea is precisely not to disrupt the market colombia exported a record 115 mln bags in the 1985 86 coffee year which ended last september 30
the unit had assets of 182 mln dlrs as of september 30
stop and shop cos in 2 for 1 split hikes dividend
the fhlbb said home savings was the 12th troubled savings institution requiring federal action this year
but the provinces are expected to play a major role in any new trading arrangement and some of the provincial leaders complained of a lack of progress on reaching a ratification formula
reichhold said it is entitled to redeem the rights at five cts apiece before a 20 pct position has been acquired or before an existing 20 pct shareholder buys an additional two pct or more of the voting power of the company or in connection with certain transactions afterward
prior periods restated to reflect sale of discontinued operations
the issue is due on april 9 1997
the finance ministry said tariffs would be cut later this month on a further 53 items including acrylic yarn and ethylene by an average 77 percentage points in order to check inflation
1986 net includes extraordinary gain of 74 mln dlrs or 72 cts a share versus 80 mln dlrs or 78 cts a share in 1985
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 initial reaction among dealers was to mark prices around 1 8 point easier
he said debt conversions or swaps are more effective because they eliminate the interest service on converted debt create new jobs and open up investment opportunities that can help indebted countries overcome their own problems
according to the companies virginia federal has over 700 mln dlrs in assets and operates 16 branches in virginia
the spokesman said interlink was seeking to expand business first in continental europe and later in the us but the company did not expect to gain foothold in the us market until 1989 at the earliest he said
colombias main oil pipeline attacked
shr 37 cts vs 37 cts net 76 mln vs 75 mln revs 3839 mln vs 3263 mln year shr 117 dlrs vs 99 cts net 240 mln vs 203 mln revs 12 billion vs 10 billion
is a serious blow to the cooperative system
texas commerce plans to add more banks in san antonio and in the dallas fort worth area where it currently has only 16 member banks he said
cna inc named drexel burnham lambert inc as sole underwriter for the offering
royex makes bid for international corona
other months will remain unchanged at 70000 yen except new distant august which will be set at 70000 from march 2
this improvement reflects the governments efforts over the last seven years to extend existing cocoa plantations and plant new higher yielding varieties particularly at the northern tip of the island they said
buffer stock purchases from non icco member countries would not be allowed to exceed 10 pct of the total buffer stock they said
redemption will be in three equal tranches after 12 years
national bank of canada said it is issuing 25 mln dlrs worth of mortgage backed securities recognized by the federal governments canada mortgage and housing corp
this compared with a revised rise of 05 pct in february and 111 pct in the year to end february
brazils gross domestic product gdp rose by 82 pct in real terms last year following an 83 pct increase in 1985 the geography and statistics institute said
non callable for two years the debt is rated baa 3 by moodys and bbb plus by standard and poors
it matures in june 1993 but will be extendible by up to two years to june 1995 at the option of the borrower
the company said the sale will not materially offset the 9848000 dlr non recurring charge it took against the sale of the division
feldstein said the task force which also included koei narusawa economic adviser to the president of the bank of toyko and paul krugman professor of economics at the massachusetts institute of technology did not agree on how much credit would be needed
caricom leaders are attending their annual meeting and high on the agenda is how to stop the decline in inter regional trade which dropped by a third last year
the investment banking firm morgan stanley has been retained to advise pacific lighting on the disposition of the land development operations
baldrige will also stop in hong kong to meet british officials and local us and hong kong businessmen
analysts have mixed opinions about the extent of the current rally
italys export credit agency mediocredito centrale provides an undisclosed interest subsidy to the lenders
tesco plc tscol said it was extending its 151 mln stg contested bid for hillards plc until may 1
swedens boliden ab takes over mining gear units of allis chalmers corp for 600 mln crowns
barclays midland follow natwest base rate cut
day reported earnings of 31 mln dlrs or 39 cts a share in fiscal 1986
denominations are in 1000 and five times 1000 guilders
however they said a tentative plan for egypt that is currently being reviewed by the management of the fund prior to going to the executive board for full approval has raised a number of questions about the countrys ability to repay
the energy department said it had approved in final form an agreement that resolves all remaining issues with shell oil co over oil pricing and allocation controls that ended in 1981
tanzania seeks to export a surplus of 200000 tonnes of maize from last years bumper harvest agriculture minister paul bomani said yesterday
petrolite corp plit sets payout
indonesia has increased its share in a 434 billion yen aluminium smelter joint venture with japan from 25 to 37 pct asahan project authority director ar suhud said
and they mexico are a long way from seeing any money cross the table even as of today ongpin said adding he expected much quicker approval from all the philippines 483 creditor banks worldwide
le peep restaurants inc lpep 4th qtr loss
the talks at the belgian resort of knokke are being held to coordinate the ecs positions on monetary issues and third world debt ahead of the spring meetings of the international monetary fund and world bank in washington next week
brown and sons inc
based on fed data out today economists calculated that the two day system repurchase agreements the fed arrranged on tuesday totaled around 59 billion dlrs
turnover 578 billion francs vs 653 billion
the bond guaranteed by parent deutsche bank ag is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
president reagan said on sunday he had already made a decision on the us response to fridays iran attack but would not say what the decision was
discussions are also under way to arrive at a formula to compensate ecuador for the loss in oil export revenue while the pipeline is repaired officials said
we are deliberately defending the price so opec production is less than 158 mln at the moment he stated
this year current exchange rates were used for the first time instead of a fixed rate of 2453 dinars to the dollar
finance minister barend du plessis will announce details at a news conference at 1500 gmt a spokesman said
fisher said 5300 had announced on april 20 that they would make a decision on june 1 about the move
ici the worlds fifth largest chemicals firm in terms of sales recently reported 1986 profits of about 888 mln dlrs on 15 billion dlrs in sales compared with income of 817 mln dlrs on 1587 billion dlrs in sales a year earlier
peru will put into effect today a foreign exchange rationing system for imports designed to stop a slide in the countrys international reserves a government decree in the official gazette said
ghana cocoa purchases fall cumulative still up
but ortiz said the bank cannot divert too much of its resources to so called sectoral lending whereby loans to specific sectors are tied to economic reforms because this could affect the banks triple a rating as a borrower in world markets
southwest said in addition to its monthly scheduyled debt service payments a 1743000 dlr loan on one of its houston properties is due to mature on april one
a s norske shell royal dutch shell groups rdas norwegian subsidiary said it has nearly concluded a 10 billion crown development scheme for norways draugen oil field and will declare the field commercial in the near future
he said the ec not only ignored manilas request for lower tariffs on coconut oil but introduced a levy on vegetable oils and fats that are vital exports for southeast asian countries
us trade representative clayton yeutter said he plans a july trip to china to discuss trade issues including chinas admission to the general agreements on tariffs and trade
for many farmers and government officials the fear is that while the present low rainfall does not yet pose a major threat the prospect of a dry autumn winter season when the wheat crop is in its early stages certainly does they added
bt asia ltd is junior co manager with a two mln dlr commitment
rotterdam grain handler says port balance rose
to solve these problems and to reduce farm product prices to more reasonable levels japan should try to restructure the the agricultural sector to improve productivity and make it self supporting it said
quixote said the agreement with dainippon which has annual sales of more than two billion dlrs provides for a dainippon representative to sit on the laservideo board of directors
qtly div 37 1 2 cts vs 37 1 2 cts prior qtr pay 1 april record 16 march
he was responding to rumours in the new york currency market overnight that the ministry was reducing its pressure on institutions to refrain from excessively speculative dollar dealings
these vessels were out fishing the foreign ministry said in a statement
high water extends rhine river blockage
but baker said his compromise proposal which he would not disclose was no longer on the table
net rate on the preceding issue end february was 998 pct
the report dated april 7 said the wheat must be from 1986 and 1987 harvest and imports of soft wheat from europe and from other suppliers will not be considered
in testimony prepared for delivery to a senate agriculture subcommittee hearing brent beesley president of the farm credit corp said in order to avoid the need for continued appropriations the farm credit system capital corp should have a line of credit from the treasury beesley said in april the system would recommend a dollar amount of aid needed
bankamerica also said it completed yesterday the previously announced sale of its discount brokerage subsidiary charles schwab corp
other state held companies earmarked for privatisation this year include engine maker rolls royce plc and the british airports authorities plc
avaq said gates corp and gates learjet approved its offer feb 26
snow whipped by 48 kph winds continued to fall on istanbul and northwest anatolia after 36 hours and weather reports predicted no relief for another two days
national intergroup nii unit raises crude prices
he said that the odds were also in favour of adoption of a bid price form of auction where successful bidders were allotted stock at the various prices at which they bid rather than a common price allotment whereby stock was allocated at the lowest accepted price
borden inc said it is acquiring prince co inc and three companies producing grocery products for 180 mln dlrs
salomon brothers international inc said it has raised the size of its collateralised mortgage obligation trust 23 to 350 mln dlrs from the 228 mln dlrs announced yesterday
management group has restaurant ra majority
thailand to renew long term sugar contracts trade
morgan guaranty trust co said it filed suit against metromedia inc seeking a redemption at par of metromedia subordinated discount debentures
it said it has contracted for perry gas cos inc to purchase natural gas from the well and perry will build a four inch gathering pipeline to connect to natural gas pipeline cos transmission line
the prime 1 commercial paper of dana and its credit unit are also under review for possible downgrade
fiat spa fiatmi declined to confirm or deny an italian newspaper report that it was studying the possibility of issuing a convertible bond
keppel corp convertible increased to 75 mln dlrs
stockbroker sources said that a likely share offer price of 120 francs would value sogenal at 15 billion francs
peter greenbaum of smith barney harris upham and co inc noted that the average wage rate increased to 887 dlrs an hour in february from 883 dlrs in january
mti did not say when the devaluation would become effective but it expected new rates to be announced later today
also the recipient countries would have to prove that the production marketing and export of the commodities could be handled without government subsidy
inevitably this greatly diminishes the scope i have this year for reducing the burden of taxation which of course remains a major objective of government policy but i am sure it is right to err on the side of prudence and caution and to build a still firmer base for the future lawson said the time had come to strike the exchange control act from the statute book
he said he will put a so called hold on the bill until he finds out whether the war powers act applies to protecting kuwaiti tankers
reynolds said work on the restart will begin in the near future and it is expected that actual metal production will begin september 1
dealers said a reviving trade dispute between washington and tokyo and growing sentiment that the dollar would have to fall further to narrow the obstinate us trade deficit were behind the weakness
union pacific unp in partnership with pdvsa
siemens will use the printers for office applications and for medium to large mainframes dataproducts said
eurofima is issuing a 125 mln ecu 7 3 8 pct bond due march 3 1997 at 101 1 2 pct lead manager societe generale said
underwriters are dominion securities inc gordon capital corp merrill lynch canada inc mcleod young weir ltd wood gundy inc and brown baldwin nisker ltd
he told that billiton a fully owned royal dutch shell rdas subsidiary presented the demands to henk heidweiler a top aide to surinam military leader desi bouterse who visited the netherlands last week for official talks
rp scherer schs offers preferred stock
hertz realty corp is issuing a 75 mln canadian dlr bond due april 30 1993 paying nine pct and priced at 100 3 4 pct syndicate sources said
dealers were uncertain of the amount involved and whether the feds purchases were for its own account or for a customer
leucadia has 50 mln dlr revolving facility
dense pac microsystems inc dpaco 2nd qtr
a government as a sovereign entity has dignity and prestige to maintain private foreign banks and the world bank had calculated oil would have to be at least 25 dlrs a barrel for quito to be able to meet its commitments febres cordero said
primarily it the program allows individual states to deal with their own problems according to a timetable that suits them best mike wehler member of the nppcs prv oversight committee said
donaldson co inc said it reached an agreement to buy the assets of the filter products division of mine safety appliances co for undisclosed terms
grain traders and analysts expect todays weekly us corn export inspection figure to be well above last year with wheat slightly better and soybeans about the same
bic corp bic sets quarterly
universal communication systems inc said it has tentatively agreed to sell substantially all its assets for about 79 mln dlrs in cash and notes plus limited profit participation
producers and consumers now are facing off over the question of how quotas should be calculated under any future quota distribution scheme delegates said
feds johnson urges stronger allied growth
cityquest makes 120 mln stg bid for wickes
the finance minister further said that overseas stock market plunges will not lead to a freefall in the tokyo stock market
economists have been cutting growth forecasts recently mainly due to expectations of a poor export performance this year notably to eastern europe and oil exporting states
under current rules the good grade of meat has less marbling and fat than the prime or choice grades it said
central capital plans three for two stock split
petroleum intelligence weekly in this mondays edition said negotiations are moving along for adjustment of the 134 mln bpd joint long term agreement at official prices and volumes and other terms may be rearranged
but it held over for the full ways and means committee debate on a controversial plan by rep
he was echoed by mexicos deputy planning minister pedro aspe armella who said the delay in signing his countrys loan has made it difficult to map economic policy with any certainty
they all have different opinions
kenya provides over 50 pct of pakistans tea imports
cominco 295 pct owned by a consortium led by teck is optimistic that the talks will soon be concluded spokesman don townson told 
but the bank has traditionally been one of the most conservative in making provisions
cooper lasersonics inc zaps 1st qtr loss
the companies said the agreement would allow computers unsecured creditors and debenture holders to receive new stock in exchange for exsiting debt and for shareholders to receive one new share of computers stock for each four shares previously held
we must be very careful
the lipc is allowed to import most beef with the amount set by the government under a quota system
soaring domestic demand for both alcohol and sugar over the past year coupled with a drought reduced cane crop has meant brazil will have difficulties in meeting export commitments in 1987 trade sources said
mark iv already owns about 99 pct of conracs 68 mln shares outstanding
the indicator base 1980 which shows trends in the economy 12 months ahead was put at 1087 in february compared with 1027 in january and 995 in february 1986
but in the eurodeposit markets which bankers consider to be the most sensitive gauge of confidence there was no discernible flight out of bank instruments and into safer government bonds
discount window borrowings net free reserves the fed funds rate average and the pattern of reserve additions are all consistent with a modest tightening said dana johnson of first chicago corp
as a result milder temperatures inflate the statistics
the 6 1 2 year old war could not be resolved on the battlefield he said
a spokesman for morgan declined to comment and referred inquiries to chrysler
meanwhile the market is awaiting results of an algerian import tender which took place over the weekend for about 10000 tonnes of refined vegetable oils in drums traders added
the structure provides the same stiffness and safety as present materials while continuously bonded seams allow a 65 pct reduction in spot welds alcan said
customs figures show imports fell to 1182 mln tonnes in 1986 from 1909 mln in 1985 and fell to 25165 tonnes in january 1987 from 54000 in january 1986
coupon set amount increased on metal box eurobond
europe on sidelines in us japan microchip row
opec reintroduced fixed prices on february 1 with a spread of 265 dlrs a barrel between its lightest and heaviest crudes
summit said it intends to actively seek acquisitions to increase its asset base
the payments will be issued through local agricultural stabilization and conservation service offices it said
black miners support s
uk money market given further 437 mln stg help
lazo said the 20 pct stock dividend payable on october 15 would also apply to stockholders on record as of september 15
genovese drug stores inc gdxao 1st qtr may 22
the us agriculture department has accepted 10572402 more acres of highly erodable cropland into the conservation reserve program usda announced
general partners told the securities and exchange commission it has reduced its stake in gencorp inc to 86 pct from 98 pct by selling 250000 shares at a price equal to 1185 dlrs per share
net 105 mln dlrs vs 39 mln sales 36 billion vs 26 billion note wholly owned by basf ag of west germany
the bond is available in denominations of 1000 10000 and 250000 ecu and will be listed in luxembourg
the payment date is may 6 and there will be a short first coupon period
the traders estimated the surplus today at about 1800 billion yen
the new company shall immediately set to work on the feasibility study of constructing a new cable for itself watanabe said
along with the fall in drilling has come a decrease in the number of producing wells and overall production
the report said japans gross national product rose a real 08 pct in oct dec after a revised 07 pct increase in the previous quarter
representatives of all the futures markets on the baltic exchange have been discussing the possibility of a single rie structure since the beginning of the year
there are some areas of disagreement he said
the index for apparel and upkeep rose 07 pct in february after a 04 pct increase in january
british sugar processes all sugar beet grown in the uk the sugar beet processing campaign which began last month is expected to run until the end of january
distillate fuel stocks held in primary storage fell by 34 mln barrels in the week ended feb 27 to 1284 mln barrels the energy information administration eia said
the paper launched by private investors was montreals fourth french language newspaper and was aimed at readers with above average incomes and educations
gold imports in jan dec 1986 totaled 15749447 ounces vs 8225999 ounces for the same period in 1985 while exports stood at 4612919 ounces and 3966678 ounces over the respective periods the bureau said
a british high commission spokesman said britain would put eight mln stg into the auction at a rate of one mln a week as soon as zambia reached a full agreement with the imf
johnson matthey raise pretax profits by 678 pct
february fob exports rose to 282 billion dlrs from a revised 274 billion in january
the actions affect 55 billion dlrs of debt
goldberg for 26375 dlrs a share
drilling for oil in california is likely to continue at last years sharply reduced levels despite recent gains in crude oil prices industry analysts said
twa said it made the statement today on its stock position in usair in response to inquiries
the world bank said it approved a 974 mln dlr loan for china to help boost fertilizer output in order to increase agricultural production
in a statement accompanying its 1986 results it reported a rise of over 10 mln stg in 1986 pretax profit to 496 mln stg and said there are signs that the existing threat of excess supply may be lessened in 1987
the lower estimates are supported by the belief that crude runs increased and imports fell
indonesian crude palm oil exports in the first 11 months of 1986 were 469100 tonnes according to central bank figures against 652000 tonnes in the whole of calendar 1985
gencorp said its first quarter earnings from operations rose four pct as sales increased six pct to 650 mln dlrs from 614 mln a year earlier
swedish industrial production rises sharply
western diplomats said iran which washington has accused of being behind state sponsored terrorism had no demonstrable capacity to carry out attacks in the us itself
with a 542 per cent voting bloc latin american nations have had relatively easy access to 35 billion dlrs in project loans since the banks founding in 1959
bids will not be received at the treasury department
as the dollar dropped to post world war ii lows against the yen today foreign exchange traders said the bank of japan federal reserve board and bank of england intervened in the markets on behalf of the us currency
he said that under the terms of this loan agreed during a visit here this week by ecuadors deputy energy minister fernando santos alvite ecuador will begin repaying the loan in august
american express also said an agreement was reached by shearson and nippon life providing for a joint venture in london
shr one dlr vs 73 cts net 126 mln vs 158 mln revs 3373 mln vs 3152 mln nine mths shr 307 dlrs vs 308 dlrs net 66 mln vs 662 mln revs 159 billion vs 9971 mln
louisiana pacific lpx to buy wallboard plant
a white house statement said reagans decision to press for continuation of so called most favored nation mfn status for romania had been exceptionally difficult and came after all options were seriously considered but the statement said that despite concerns about human rights abuses by the bucharest government the president had decided that should be continued because it helped stimulate emigration from romania and gave the united states influence on human rights practices there
1986 operating net excludes discontinued operations of 84000 dlrs or two cts and extraordinary charges of 1119000 dlrs or a loss of 27 cts
analysts pointed to the recent sale of sydneys five star regent hotel to japanese interests for more than 145 mln dlrs as indicative of the type of property being sought
as of november 30 the company had about 26 mln dlrs of total debt outstanding
it recognised that such arrangements may in certain circumstances reduce credit risk and wish to encourage their further development and implementation and said some of the current proposals may be changed to take this into account
but analysts cautioned that although japanese producers can cut output boosting imports the key to us withdrawal of the sanctions is more difficult
nusource investments inc a publicly held shell company said it acquired american nutrition works inc through a transaction in which american nutrition shareholders received 28 mln shares of nusource stock in exchange for their shares
we have lost some orders to south korea and mainland china because foreign importers have switched their purchases he said
and news that japan earned a record 18 billion dlr trade surplus in the first two months this year just underscored the need for urgent action in the view of us officials
the us agriculture department said it will update its estimate of winter wheat seeded acreage in the prospective planting report scheduled for release at 1500 est 2100 gmt tomorrow march 31
sri lanka to upgrade quality of coconut products
general refractories co grx 4th qtr net
ec farm lobbies back oils and fats tax plan
government security advisers say that as a direct result the most likely source of revolution in the philippines is in the upland areas said ganapin
securities and exchange commission chairman john shad said progress was being made in stopping insider trading but the chairman of a house subcommittee with jurisdiction over securities laws said he was concerned about conditions on wall street
western diplomatic sources were more blunt
huckaby chairman of the house agriculture subcommittee dealing with sugar issues told in an interview
huckaby said by simply bringing forward to the third quarter of the year sugar imports scheduled for the september to december period we could get away without having to increase the quota he noted that some in the sugar industry believe an increase in the quota is justified
the issue is guaranteed by parent company landesbank rheinland pfalz girozentrale which is jointly owned by the west german state of rheinland pfalz and local savings banks
the contribution of each one of them corresponds exactly to the request of the mexican government the statememt said
the company said the acquisitions will give it broader distribution of its corporate relocation service and mortgage programs
what people really have to learn is to read labels said kritchevsky
in its statement atlas said development of the pre world war two underground mines in masbate had been accelerated and the ore tonnage had increased extending the operations life at least until 1993
the euro commercial paper program allows for the issuance of notes with maturities of up to 183 days
western diplomats said they expected conable to press indonesia to maintain the pace of its present economic reforms to cope with the slump in its oil revenues
the offer also eliminated overtime after eight hours following the normal 40 hour work week he added
ehrlich bober eb starts trading on amex
ekn bank sets 25 mln swiss franc warrant bond
a british parliamentary report said that up to march british firms had been awarded just 34 mln dlrs worth of contracts for the strategic defence initiative compared with the 15 billion dlrs britain had hoped to secure
the usda is due to release planting intentions figures march 31
malaysian crude palm oil output falls in february
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
residual fuel prices rose 167 pct in february after a 134 pct rise a month earlier and were off 174 pct in 12 months
general mills inc 3rd qtr shr 64 cts vs 52 cts
proceeds will be used to repay bank debt incurred to finance the acquisition of mcneil corp in august 1986
the european community commission has decided to abolish a special tax of eight ecus per tonne imposed on exports of spanish maize commission sources said
tie telecommunications canada ltd 4th qtr net
shr 17 cts vs 10 cts net 408000 vs 237000 revs 8863000 vs 6738000 1st half shr 27 cts vs 15 cts net 647000 vs 356000 revs 172 mln vs 125 mln
i doubt that there would be any subsidy offer this summer or before the next agreement year begins a usda source said
notes in circulation totalled 1616 billion dlrs up 50 mln dlrs from the week before
shr 130 dlrs vs 107 dlrs net 136 mln dlrs vs 102 mln revs 2712 mln vs 1823 mln note1986 results reflect year 11 month period because company changed fiscal year to end february 28 from march 31
other constraints were capacity 11 pct and labour nine pct the survey said
ccic finance ltd year to dec 31
unionist urges retaliation against japan
the bonds are callable after seven years at 100 1 8 pct and it will be listed on the london stock exchange
officials of several major japanese trading houses attending the press conference said they supported credit suisses call for the government not to impose the gold tax
at present such allowances are available only for livestock
the corpus christi refinery has a capacity of about 160000 barrels per day the union pacific spokesman said and is a largely upgraded facility but he would place no value on the transaction
the union said that darts safeway bid forced a major restructuring at safeway to pay the hafts and their lawyers and caused a loss of thousands of jobs
the company said it had been able to cut its losses because its scaled down copper operations in the central island of cebu started in the second half of 1986
they said that after initial jumps they expect prices to stabilise and hover around gsps for the next few months
henley group reviewing investment in santa fe southern pacific
for the nine months the company posted a profit of 2444 mln dlrs or 178 dlrs a share compared with a profit of 2197 mln dlrs or 160 dlrs a share for the year ago period
jeffrey leeds of chemical bank agreed that the economys health would remain the main influence on policy but contrary to di clemente he said that recent signs of faster growth and inflation could lead to higher rates first
balladur insists on maintenance of louvre accords
canada 91 day t bills average 689 pct making bank rate 714 pct
a senior economist with banque indosuez said the focus was now on trade and growth rather than interest rates
gold output for the year declined five pct to 638 tons compared with the previous years 671 tons
moodys may downgrade home shopping hsn debt
marks work wearhouse ltd year jan 31 net
a softening of the ec stance would make it more difficult although not impossible for the us to block producer plans
the buying began when the dollar was at about 14960 yen and helped drive the us currency up to around 150 he said
the revised estimate for fourth quarter gnp partly reflected a downward revision in inventories to a total decrease of 285 billion dlrs in the fourth quarter the department said
only the two state groups seriously planted these clones while smallholders preferred the low yielding but older pbx malaysian clones
simex said in a press release that the options contracts would be based on the currency and interest rate futures currently traded on the exchange and be started toward the third quarter simex which is linked to the chicago mercantile exchange currently trades three currency futures on deutsche marks japanese yen and british pounds and two interest rate futures on us treasury bonds and three month eurodollars
she spends less than 650 dlrs a day on food despite eating out once a day
ico producers and consumers could not agree on how to calculate export quota shares at a recent council meeting here
the energy department study discusses several options to curb reliance on foreign oil but makes no recommendations
theyve accomplished a great deal he said
whim creek consolidated nl said the consortium it is leading will pay 7655 mln dlrs for the acquisition of cra ltds craas forrest gold pty ltd unit reported yesterday
the dollar ended in new york yesterday at 14715 25 yen its lowest level against the japanese currency in roughly 40 years
magma mgcpv sees profitable copper production
higashi nippon house said it would offer around 2200 acres of land in illinois california florida and indiana from early april to gauge response
in return latin nations would have to give up their 54 pct simple majority voting power over iadb lending
32000 head have been sent to nearby provinces of las tunas and ciego de avila
fees are 3 4 pct for selling and 5 8 pct for management and underwriting combined with 1 8 pct praecipium
us silver production rose in december
senior ec financial expert in tokyo tomas de hora has watched the movements closely
he said he believed hutton which is occassionally surrounded by rumors moved up today as a result of the newspaper article
he said the dispute was a row which should not have happened and agreed that much of the blame lay with us treasury secretary james baker who had publicly criticised west germany for having raised its key interest rates
in 1986 the company reported earnings from continuing operations of 1093 mln dlrs or 350 dlrs a share
cooper basin producers are committed to a two year scheme to double gas exploration while santos said its 1987 budget for oil exploration had been boosted 20 pct
this view is less favourable than the west german governments forecast of a growth rate of under two pct this year but is in line with forecasts by independent economic institutes of growth ranging from 15 to two pct
military experts said washington is putting strong pressure on tokyo to buy a us plane either the mcdonnell douglas corp f 18 or general dynamics corp f 16 to reduce japans huge trade surplus with the us it might be a good idea to jointly produce planes with us makers as japan is supported by the us defence umbrella iida said
in recent years us markets have absorbed the exports of developing country allowing them to earn critical foreign exchange
denmark has seasonally low catches with 72 pct meal offered at 315 crowns per 100 kilos cif north european ports for april oct deliveries
fees total two pct with 1 1 4 pct for selling and 3 8 pct each for management and underwriting
up until recently you could see any motion picture on any pay channel redstone said
citibank said in its filing with the sec that it was premature to decide now whether the loans should be placed on a non perfoming basis a view that was echoed by spokesmen of several other major us banks
aside from the g 5 session today bundesbank president karl otto poehl is due to meet the german affairs group on international monetary issues later
french inflation confirmed at 02 pct in may
asked if the september 1985 plaza agreement was a failure because the dollar had fallen too far sumita said he still thought the pact was a good one in the sense that it had corrected the overvaluation of the dollar
bastian technologies says it has five pct of cosmo communications may seek control
taiwan steel firm sees lower exports more output
the survey found that with the virtual elimination of commissions the improved market liquidity has encouraged investors to deal more frequently in the market
the cso said industrial production in the three months to january was provisionally estimated to have fallen by 07 pct from the level of the previous three months while manufacturing output rose by 05 pct in the same period
my own view is that we are on course and the first indications from the original paper an auction at the end of april or in may must be the best assumption he said
congress passed a textile bill two years ago but it was vetoed by president reagan on grounds that curbing imports to protect the domestic textile industry would trigger retaliation us trading partners
banks shareholders and depositors will have their rights guaranteed by the government an edict of vital significance in a country of only 17 mln people where the financial sector is the biggest after oil
he said the wheat trade because wheat can be produced in many nations is a good barometer of world grain trade and could lead to more activity in other grain markets
this is making the japanese people doubt nakasones credibility shiratori told 
moodys said the action recognizes the airlines reorganization under chapter 11 of the bankruptcy code risks associated with its substantial financial leverage and unpredictable cash flow
dallas based lcb is a privately held maker of structural steel joists and rack and storage handling systems
the us treasury said it will sell 132 billion dlrs of three and six month bills at its regular auction next week
since 1980 the total free market export supply has fallen to 18 mln from about 22 mln tonnes
parkway co pkwy sets quarterly
feds johnson sees easing of inflationary fears
at the companys annual meeting wednesday possis said shareholders approved a proposal to increase the authorized common shares to 20 mln from eight mln
revenues last year fell to 191 mln dlrs from 2233 mln while profit fell to 44 mln dlrs from 131 mln
were not very enthusiastic about nigerias debt rescheduling said a senior official at a leading japanese bank
imports of gas from canada are limited by pipeline capacity and importing liquefied natural gas on ships will not be feasible in the next 10 years because of the cost only about 6 trillion cubic feet of additional gas reserves were discovered last year while us consumption approached 16 trillion cubic feet according to industry estimates
edward zorinsky d neb
in the last few minutes of trading on friday another trader said the stock jumped to close up 3 3 8 largely on anticipation that the company would make a weekend announcement
another monetary source said japan was upset with americas half hearted attempt to halt the falling dollar flouting the paris accord outright
the deal is scheduled to close by the end of june the company said
net includes gains on sale of securities pretax of 1860213 dlrs vs 392975 dlrs in quarter 5023401 dlrs vs 3223008 dlrs in year
private analysts generally agreed that going after the rig rather than an onshore economic or military target such as silkworm launch sites reflected a careful bid by washington to limit the political military and diplomatic fallout both at home and in the gulf
shr not given loss 549 mln revs 272 mln note prior year results not given
american barrick resources corp said wholly owned barrick resources usa inc completed the previously announced 50 mln us dlr issue of two pct gold indexed notes which are guaranteed by american barrick
the proposed legislation would abolish distinctions between recognised banks and licensed deposit takers and tighten legal controls making it a criminal offence to mislead supervisors
the inverse rate tranche totals 713 mln dlrs and has an initial rate of 10903 pct
japanese finance minister kiichi miyazawa said the strengthening of the yen against the dollar that has occurred since the paris agreement was within the range agreed on in the louvre discussions
it said it also paid out 669 mlndlrs in bonuses to over 93000 hourly and salaried employees and it recently paid out 467 mln dlrs in profit sharing payments to full time employees based on 1986 performance
bi yueran managing director of china state shipbuilding corps ship repair department told the newspaper the soviet union lacked adequate repair facilities for the more than 600 ships deployed in the far east
he estimates blocks fiscal 1987 earnings at 275 to 280 dlrs
the richard companies made a pre tax profit of 36 mln dlrs in the year to end 1986 on turnover of 71 mln dlrs with net tangible assets at the end of 1986 of 34 mln dlrs
humana inc said a florida judge approved a previously announced proposal for the company to buy certain assets of international medical centers which had been declared insolvent and put into receivership in early may
the company said its board intendsd to schedule a meeting in the near future to review the proposal and it has asked oppenheimer and co inc to assist it in evaluating the offer and advise calny on its alternatives
it said drilling will begin during the second quarter
the spokesman said paemen will continue as chief spokesman until the retirement on may 1 of paul luyten who is now in charge of ec departments handling negotiations in the world trade body gatt the oecd and other forums
allowing for around 700000 tonnes for the current years domestic usage it would leave around 68 mln tonnes for export of which czarnikow estimates about 37 mln tonnes will be taken by the ussr 1530 mln by other socialist countries and the remainder for delivery to non socialist bloc destinations
hj meyers and co inc will manage the underwriting of the offer
ryan homes ryn calls debentures
last month yapi ve kredi bankasi launched the countrys first commercial paper programme for a joint venture chemical firm
excess liquidity has been hitting bank profits since early last year despite five interest rate cuts in 1986
schlesinger said he saw no signs that central bank money stock growth was slowing down from its recent year on year pace of 7 1 2 to eight pct well above the bundesbanks three to six pct target
china has been the subject of about a dozen cases involving anti dumping in the us within the last two years which the us side won he said
linde will ask shareholders at the annual meeting on may 13 to raise authorised share capital by a maximum 30 mln marks nominal for the issue of share warrant bonds with a maximum issue volume of 200 mln marks
japan lines cumulative debt was 6898 billion yen at the end of september which exceeded shareholders equities and reserves totalling 6340 billion
shr 37 cts vs 27 cts net 1194000 vs 870000
bryan ferguson c
orange co inc said its largest shareholder summit resoureces inc has increased its stake to 15 pct from 14 pct and now owns 644727 shares
oper shr 121 vs 88 cts oper net 7767000 vs 5494000 revs 1637 mln vs 1335 mln note 1986 and 1985 oper net excludes a loss of 1332000 dlrs and a profit of 319000 dlrs respectively for discontinued operations
oper shr 16 cts vs three cts oper net 1930000 vs 391000 revs 3139 mln vs 3089 mln avg shrs 119 mln vs 120 mln year oper shr 60 cts vs 27 cts oper net 7215000 vs 3340000 revs 123 billion vs 116 billion avg shrs 119 mln vs 120 mln note prior year net excludes gains 4896000 dlrs in quarter and 8873000 dlrs in year from termination of overfunded pension plans
pitt des moines inc said it will receive a qualified opinion from auditors on its 1986 and 1985 financial statements
there is ample liquidity the fed is not going to shift gears at the present time or for at least another month said maria ramirez of drexel burnham lambert inc
iraqi naval units and forces defending an offshore terminal sank six iranian out of 28 iranian boats attempting to attack an offshore terminal the communique said
nakasone wants to go armed with two separate packages one designed to pep up japans sagging economy and imports in the short term the other to redirect the country in the medium term away from its over dependence on exports for growth
jp morgan and co inc jpm 1st qtr net
nis has assigned rates on a us firm for the first time in japan which was the first step into the us rating market kazuya kumura general manager of nis said
united has assets of 90 mln dlrs
great western financial corps subsidiary great western bank said it will purchase three retail banking branches in south florida with total deposits of 90 mln dlrs
he noted most estimates are that corn sweeteners will capture at most only another 10 pct of the sweetener market in the us but he said if there were an economic breakthrough in the production of a new crystalline corn sweetener which further expanded the corn sweetener share then us sugar imports might be eliminated and us sugar output severely reduced
s african producer price inflation falls sharply
us weather cotton summary usda noaa
during the remainder of 1986 87 supplies of most processed noncitrus fruit will be smaller than a year ago it said
finance minister mohammed ali abal khail and commerce minister suleiman abdulaziz al salim will attend the first day
chiron corp chiro 4th qtr april 30 loss
financially pressed ecuador a member of the organisation of petroleum exporting countries opec was recently pumping about 260000 barrels per day bpd of crude about 50000 bpd above the output quota assigned by the cartel another energy ministry spokesman said
subroto said speeding up necessary approvals for field operations was a government priority
rubbermaid inc 1st qtr shr 28 cts vs 22 cts
fed sets 15 billion dlr customer repurchase fed says
international research irdvo 3rd qtr payout
non refundable for 10 years the issue is rated a 1 by moodys and a by standard and poors
the bank reiterated that total distributions to common shareholders would range from 1650 dlrs a share to 1725 dlrs including the initial stock dividend and a final distribution in late 1988 or early 1989
the company said it has extended the offer until july 2
british entry would change the ems from a monopolar system based on the west german mark to a bipolar mark sterling system he noted
our estimates at the council of economic advisers suggest national net output of goods and services will permanently increase by approximately two pct because of the long run consequences of tax reform sprinkel said
it was down over three points wednesday morning before closing down 7 8
on a positive note banks increased capital to a record 208 billion dlrs last year and there has been a slowing in the number of new problem banks in all regions except the southwest seidman said
biotherapeutics bitx in nasdaq expansion
halcyon investments a new york risk arbitrage and securities dealing partnership told the securities and exchange commission it has acquired 288000 shares of cyclops corp or 71 pct of the total outstanding
sallie mae adjusts short term discount note rates
full year 1986 turnover 1714 billion stg vs 1669 billion
individual segments in many countries may lose in the process but it should result in a more rational system of world wide production within 10 or 15 years he said
the current farm bill has been in place for just a little over a year and in our judgment there is more to be gained at the present time from maintaining the legislation
the energy deficit was reduced to 65 billion francs from eight billion in january while industrial trade showed a surplus of 14 billion francs against only 800 mln francs in january
inflation has been running at 10 pct a year for the past six months according to the central bank and the government expects the economy to grow three pct this year after a 14 pct contraction over the last six years
it seems to put them slightly closer to an agreement but one shouldnt forget how much they have to negotiate said another trader of todays developments
oper shr loss 26 cts vs profit five cts oper net loss 1506000 vs profit 312000 revs 42 mln vs 279 mln year oper shr loss 43 cts vs profit 16 cts oper net loss 2535000 vs profit 1236000 revs 1299 mln vs 1203 mln note excludes discontinued operations loss 142 dlrs a share versus loss nine cts in the quarter and loss 162 dlrs a share versus loss 12 cts in the year
hungary to devalue forint against western units
bethlehem steel bs debt downgraded by s p
saudi riyal deposit rates ease
luxtec corp said it has reduced the exercise price of its class b common stock purchase warrants to one dlr from two dlrs from today through june 30
other new deals this morning reflected the recent primary market trend with little activity in dollar denominated issues although the currency sectors were busy
american video is a closely held company operating video rental concessions in post and base exchanges at 54 army air force navy and coast guard installations
for the first stage beghin say will issue some 205 mln new 65 franc shares at 500 francs to increase capital to 660 mln francs
the bank will have to watch closely various developments resulting from its already eased monetary stance such as the sharp rise in real estate and stock prices he said
the charges carry a maximum 50000 dlr fine on each count
lim in brussels on a tour of europe and america said he had instructed malaysias representatives on the executive committee of the association of tin producing countries atpc to draw up a paper on the matter
payment date is april 13 1987
an investment will have to be made said archie dunham executive vice president of petroleum products at conoco an operating subsidiary of dupont corp dd in order to upgrade refinery operations
tranche b which matures september 15 1992 is payable april 15
partnership became public on march 19 1987
they will be near the existing nissan plant in sunderland in north east england nissan said
sawmill equipment and skidder operations were affected by a strike in british columbia and the extended debate on us imports of canadian lumber but there were encouraging signs at yearend the company said
but taiwan and to a lesser extent south korea stand in marked contrast
if there is anything of consequence to offer prime minister yasuhiro nakasone would take it with him when he visits washington later in the month one us official said
the company said under the terms great western has agreed not to acquire or seek to acquire any voting securities of citadel or propose a merger with citadel for five years and citadel has paid great western six mln dlrs
if there is no agreement world prices will always be depressed particularly because the european community is subsidising its producers and dumping sugar on the markets he said current world prices holding steady at about 760 cents per pound were uneconomical for the philippines where production costs ranged from 12 to 14 cents a pound
the treasurys account with the bank dropped 13 billion guilders
frank b
the coupon on the 75 mln dlr 15 year convertible eurobond for atari corp has been set at 5 1 4 pct compared with indicated range of five to 5 1 4 pct lead manager paine webber international said
conagra inc agreed to acquire monfort of colorado inc in a stock transaction both companies said
precious metals climate improving says montagu
enterra corp said it has completed the sale of its hale fire pump co and macomson machine co subsidiaries to a company formed by los angeles investment firm mcbain rose partners for about 27 mln dlrs in cash
these tradeable dollar denominated notes would have a six year life and if banks swapped them for cash before maturity the country would guarantee a payment of 7 8 point over libor
n malhotra said in a statement
taiwan said it plans another round of tariff cuts possibly within a month to try to narrow its trade surplus with the us vice finance minister ronald ho said a high level economic committee recommended tariff cuts on 66 products requested by washington including apples chocolates and fruit juice
the currencys decline was due to remarks on sunday by us treasury secretary james baker dealers said
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwtriting combined
over the next five years we expect to launch one major new product each year henderson said
prices had risen 03 pct in the month to mid february but had fallen 07 pct year on year
selkirk communications ltd 4th qtr net
the company also said along with local landowners and investors it will acquire 33 acre tract northtowne meadows in the toledo ohio area for development into 160 home sites and three acres of commercial land
the company said it will not disclose terms or other details of the acquisition until negotiations are completed
the court ruled the employers had made a mistake in the complicated legal procedure for obtaining official permission for the redundancies and therefore could not proceed
at last weeks tender the ec commission made an apparent concession by offering a maximum rebate only 13 european currency units ecus per 100 kilos below the level producers say is needed compared with the previous weeks rebate which was 25 ecus below the necessary level
pakistans foreign exchange reserves fell to 843 billion rupees in february from 896 billion in january compared with 1297 billion in february 1986 the state bank of pakistan said
the group includes soros and quantum fund an offshore investment firm headquartered in curacao netherlands antilles that is advised by soros
overland also said it negotiated a 3000000 dlr interim credit agreement with its majority owner continental training services inc
the yield for tankoku issued on a discount basis is one point below the 426 12 pct interest rates for six month certificates of deposit today
shr four cts vs 21 cts net 29862 vs 152826 note full name is united financial banking cos inc
this agreement terminates litigation between the companies concerning previous attempts at a plan of reorganization bell is also free to continue talks with any third parties interested in an acquisition it said
eni owns 48 pct of the joint venture company super octanos ca while pequiven has 49 pct with the remaining three pct to be sold to private investors
last november palomino said conades plans included the possible sale of a company producing palm oil and another manufacturing electrical appliances
however if the producer price rise from 610 dlrs to 867 dlrs per 90 kg bag is not accompanied by a retail price increase the government will have to spend more on subsidies a practice discouraged by the imf
bank of boston corp expects first quarter earnings will range between 90 cts and one dlr a share up from 79 cts a share last year chairman william brown said
the governments economic planning agency said last week the economy grew at 25 pct in 1986 the worst performance since 1974 when the economy shrank 14 pct due to the first oil price crisis
avana group plc defending itself against a bid from ranks hovis mcdougall plc rhmll rhm forecast a 34 mln stg rise in profits in the 1986 87 year
there are also large pockets of high quality condensates to be produced notably in the juha field near iagifu which is capable of producing 30000 to 40000 bpd he said
the belgo luxembourg economic union recorded a provisional trade deficit of 945 billion francs in january after a december surplus of 1532 billion francs revised upwards from a provisional surplus of 1194 billion the national statistics office said
the bonds which yield an effective 766 pct per annum will be listed in luxembourg and will be issued in denominations of 10000 dlrs
borden bn to acquire major pasta maker
it is vital that we work together to bring more freedom and harmony into the world agricultural trade if not the disruptions in markets may grow even more severe the walls of protection climb higher and the level of possible retaliation become more harmful us department of agriculture deputy administrator william bailey said
the company said it has the option under the agreement to fund the borrowings at the prime reate or at rates related to certificates of deposit or london interbank borrowing rates
canon usa inc wholly owned by canon inc of japan is issuing a 10 mln dlr floating rate note frn due december 4 1989 paying 018 pct over six month london interbank offered rate libor and priced at 100 3 8 yamaichi international europe ltd said as lead manager
external pressures are rising as the us and europe seek removal of tariffs and quotas to help reduce their trade deficits with japan
johnstown american jac makes exchange offer
baker international corp treasurer eric mattson said the company hoped to iron out snags in a proposed merger with hughes tool co ht but declined to say if or what compromises might be acceptable to it
the top accepted rate of discount at the weekly uk treasury bill tender rose to 95261 pct from 93456 pct last week
the statement said the deal increased investors stake to 494 pct of the voting rights and 148 pct of the share capital while providentia is left holding 341 pct of the voting rights and 145 pct of the share capital in swedish match
consolidated net earnings for the two months ended feb 28 1987 amounted to 239 mln dlrs compared to 154 mln dlrs for the comparable period a year earlier it said
1986 results include accounts of 89 pct owned precambrian shield resources ltd acquired november 5 1986
noble broadcast group to sell debentures
the placement will raise jardine strategics stake in dairy farm to 3975 pct from the current 353 pct
saudi arabias quota is 4133 mln bpd
a fed spokeswoman had no comment on the dealer reports
in 1985 the invisibles surplus was 51 billion stg
the central bank maintains a stricter policy and tries to keep the mark below the 11300 guilders per 100
gencorp gy group holds 98 pct stake
us firms have complained they were not allowed to bid on its construction
transportation agency gives final okay for us air pacific southwest acquisition
ferruzzi negotiating european acquisition
bangemann said he could not deny that the economic climate in west germany had cooled but he stressed the country was not in a downtrend
dole also repeated his call for an across the board export enhancement program saying a subsidy offer to the soviet union could help improve us relations with that country
the sharp fall in the dollar to date will add to inflation as will a mild economic pickup in the second half of this year
salomon raises size of cmo to 350 mln dlrs
the prv committee received results of a three year five state pilot project which had a 975 pct success rate in eradication of the disease within 116 hog herds
parent company turnover in the fourth quarter fell 71 pct to 369 billion marks with domestic turnover 41 pct lower and foreign turnover 86 pct lower
sixteen governments signed the paris club umbrella agreement last september which restructured 18 billion dlrs of official debt and petricioli said he hopes to finalize pacts with the remaining eight countries in the next few weeks
salomon raises caterpillar cat opinion
argentina has threatened to follow brazil in declaring a payments moratorium if the banks do not grant its request
they will be sold both in belgium and abroad
the non callable bonds will be listed in luxembourg and will be issued in denominations of 1000 and 10000 dlrs
it will redeem 184 billion yen at 10300 and the rest at par this august 18 under an annual redemption obligation probably because of declining yen interest rates daiwa said
danaher corp said it expects higher earnings in 1987 versus 1986
mazda motor corp maztt 
but opinion was divided on whether the united front forged in paris still exists
shr 336 dlrs vs 333 dlrs net 16173000 vs 10603000 sales 4208 mln vs 2761 mln avg shrs 44 mln vs 32 mln note 1985 net includes tax credits of 69 mln dlrs or 219 dlrs a share
berger also said that a further devalued dollar may cause economic depressions in some us trading partners and that would not be in americas interest because it would close those markets to us goods
he said fleet is optimstic connecticut law which only permits interstate banking mergers within new england can be amended
moodys said it believes the acquisition will be carried out substantially as currently structured
bond corp to acquire 80 pct of merlin pete
bankers said they expect the loan which is available until march 1988 will be drawn down
sensormatic canada ltd year net
kenya was already spending over 27 pct of its budget on servicing its debts and last year it was a net exporter of capital for the first time in its history he added
the canadian dollar bond launched earlier today for hydro quebec has been increased to 150 mln dlrs from 125 mln lead manager merrill lynch international said
employment in manufacturing during fiscal 1987 88 was predicted to fall 550000 from the current year due to higher job losses in the steel shipbuilding and heavy electrical machinery sectors nomura said
there is still a lot of work to be done on a number of clauses of the international coffee agreement and we would not welcome quota reintroduction until we have a complete renegotiation de vries added
canada approves us gas exports by progas
it said the number of units outstanding for both years is 6479516
the peking representative of a japanese securities house said the rapid yen rise had caught china and his firm unawares
the spokesman told that brazils suggestion will be communicated by telex to brazils 700 bank creditors
thai zinc ingot exports fell to 882 tonnes in march from 1764 in february and 3008 in march 1986 the mineral resources department said
the margins for speculative trading will be increased to 2000 dlrs per contract from 1300 dlrs and trade hedge margins will rise to 1400 dlrs from 900 dlrs the comex said
continental cthl repurchases notes
shr 14 cts vs nine cts net 217572 vs 153454 revs 2530273 vs 2558924 1st half shr 19 cts vs 11 cts net 299838 vs 174739 revs 4865249 vs 4495021
agriculture ministry officials have forecast a 1987 88 cotton harvest of about 200000 tonnes down from 215000 in 1986 87
a borg warner spokeswoman said members of management do not plan to participate in the transaction but they will retain their positions with the company
the terminal will be completed in mid 1989
everest and jennings international eja 4th qtr
the shorter leading indicator signalling trends six months ahead was put at 971 for january the latest month for which data were available after decembers 965 this compared with 984 in january 1986
when it announced its recapitalization may 26 harcourt advised holders of the 6 3 8 pct convertible subordinated debentures due 2011 to convert into common by the june eight record date for the companys special dividend
s and p said the merger would allow american security to diversify its wholesale funding base
concepcion said the philippines would address the issues of trade in tropical fruit and the improvement of gatt machinery to make it more responsive
it said it hopes that buckhorns board will reevaluate its position and enter into meaningful negotiations
details of which loans will be repaid have still to be decided
the rest is owned by german and swiss shareholders
no other major us bank had followed the lead of chemical and marine midland preferring to keep their prime rates at 9 1 4 pct while they waited to see what course money market rates would take
im not convinced the intervention was concerted said earl johnson of harris trust and savings bank in chicago
a two year project to search for oil and gas in jordan was agreed in amman by jordans natural resources authority nra and the canadian company petrocanada international assistance corporation pciac the 191 mln dlr assistance agreement was signed by jordans minister of energy hisham al khatib and pciac chairman peter m
the underlying reserves increase is net of borrowings and repayments
the undesignated line is reduced to zero
little prince productions ltd ltlp 1st qtr loss
ibcs interstate bakeries ibc bid oversubscribed
genetics institute inc genio 1st qtr loss
in an editorial on the economic outlook the jakarta post said the government must press ahead with measures to deregulate the economy to help boost non oil exports
ncnb corp said the board of governors of the federal reserve system approved its application to merge with centrabank inc of baltimore expected to be completed july 1
a year earlier it earned 911000 dlrs
the scheme which covered a two year period allegedly involved vaskevitch leaking information to sofar about looming takeovers and mergers some of which he worked on according to the complaint
alimullah said exports rose 18 pct to 35 billion dlrs from 29 billion dlrs in 1985 86
following the opening session the group of ministers met with president jaime lusinchi at miraflores the presidential palace
the position of local producers is always to negotiate as they please
the index of coincident indicators which measures the current economy rose 09 pct in february after a decline of 13 pct in january and a rise of 09 pct in december
us sees no new coffee agreement talks soon
durables excluding defense were reported originally as having fallen 99 pct in january
greyhound lines said it agreed to acquire the routes of trailways corp greyhound said it had petitioned the interstate commerce commission for authority to acquire and operate trailways routes 450 of its 1200 buses and some of its terminals and garages
the number on hand compared with trade guesses of 335 to 36 mln lbs and the year ago figure of 512 mln lbs
it also said the sale will be offered through an underwriting group managed by johnson lane space smith and co inc and interstate securities corp is proceeds will be used to reduce short term debt the company said
another question is whether or not the international monetary fund can help brazil with a new austerity program
security pacific is the sixth largest us bank holding company with assets of about 6160 billion dlrs
eateries inc eats year net
the unilever spokesman declined to say how much the group expected to receive for stauffer
wheat sales of 317200 tonnes for the current season and 125000 tonnes for the 1987 88 season were down about one third from the preceding week and the four week average
he added he would not rule out central banks of leading industrial countries intervening on exchange markets to defend the dollars value
they creditors asked for the maximum amount and we offered the minimum said one banking source reacting to reports from london that creditors were hoping for larger repayments
american television atcma buys time tl unit
it also said it intends to seek additional interim rates
bresser pereira will use the plan as the basis for negotiations with creditors next month in an attempt to reschedule the countrys 111 billion dollar debt
a cut in the seven day repurchase rate could come as early as tomorrow morning banking sources said
the panama canal commission a us government agency said in its daily operations report that there was a backlog of 39 ships waiting to enter the canal early today
the central bank bought bank bills outright comprising 345 mln stg in band one at 9 7 8 pct and 75 mln stg in band two at 9 3 16 pct
however manufacturers hanover said that in light of current circumstances it was more appropriate to record income on its brazilian loans only when cash payments were received
thailand exported 1816 tonnes of tin metal in january up from 1731 in december and 1330 a year ago the mineral resources department said
they debentures will be offered at 990 pct of the face amount to yield 859 pct to maturity
the bonds guaranteed by bank of tokyo ltd will be issued in denominations of 5000 dlrs and will be listed in luxembourg
the highest rate is 1750 pct
figures in the communist party newspaper pravda show industrial production rose 36 pct in the first nine months of 1987 against 52 pct in the same 1986 period
1986 both periods includes operations of sargent welch scientific co acquired on nov 30 1986 and interest in rosecraft inc since june 4 and lawrence jewelry corp since oct 22
chirac said he wanted commercial banks to give third world countries better terms in rescheduling their debts and for the international monetary fund to soften its conditions
revenue from jet engines was close to six billion dlrs last year with well over half of the business in the military sector according to analysts estimates
japan cutting china corn commitments usda
gander mountain inc gndro 1st qtr sept 30 net
the sources said italy which refused to join the paris pact was invited back by treasury secretary james baker
under the contract peoples said it will provide telephone service to southlands 7 eleven stores in florida and install and maintain telephone circuitry for 7 elevens moviequick and computerized lottery systems
some analysts see crude stocks falling by as much as six mln barrels while others think they could go up as much as 35 mln barrels
the industrial bank of japan ltd ibj london branch said it is establishing a sterling certificate of deposit cd issuance programme for up to 200 mln stg
wells gardner corp wga 3rd qtr net
i worked out that paying as much as 50 dlrs per share would still be additive to gaf in time if they sold off most of the non chemical facilities said john henry of ef hutton
qtrly seven cts vs six cts pay april 20 record march 31 note full name of company is second national building and loan
the bank said the sale by public auction on march 16 was because of a debtors inability to repay an overdue loan
ab volvo is issuing a 70 billion eurolire bond due may 31 1990 paying 10 1 8 pct and priced at 100 1 2 pct lead manager banca commerciale italiana said
standard and poors corp said it may downgrade mark iv industries incs 200 mln dlrs of b minus subordinated debt
the main suppliers in 1986 were australia 44 pct the us 29 pct canada 12 pct argentina 8 pct and saudi arabia 5 pct
officials for em warburg referred all questions to computerland
german net currency reserves rise
shr 21 cts vs 18 cts net 2256000 vs 1915000 revs 382 mln vs 353 mln nine mths shr 62 cts vs 56 cts net 6474000 vs 5808000 revs 1259 mln vs 1123 mln backlog nine mln vs six mln note share adjusted for five for four stock split in june 1986
aero services aeroe sees better 1987
in finland and sweden up to 50 vessels were reported to be stuck in the ice and even the largest of the assisting icebreakers were having difficulties in breaking through to the stranded ships coastguard officials said
ffb corp parent of the first federal bank of connecticut fsb said it declared an initial quarterly dividend of five cts per share
the proposed offer by etl controlled by new zealand entrepreneur allan hawkins came after it built up a 1499 pct stake in monier in a 95 mln dlr share raid in recent days
the shipment is part contract signed in february for the saudis to supply brazil with 125000 barrels per day until june
but overall debenture prospects remain bright because the rates of interest on them will still be higher than what banks pay for deposits of similar maturity a merchant banker said
the governments sweeping privatisation programme has also included the sale of saint gobain sgeppa and cie financiere de paribas paripa the sale of banque du batiment et des travaux publics and banque industrielle et mobiliere privee should be completed this month while third largest french bank societe generale sgenpa will be privatised later this year
whittaker wkr to have gains from sales
120000 dlrs in matching funds will be provided to the meat board for use in the development of a better market for processed meats
however the sources noted a late temporao is always more susceptible to pod rot which flourishes if conditions turn cold and humid and which is more likely from late july on
reynolds metals co said it plans to restart the last idle potline at its troutdale ore primary aluminum plant
oil use in the 24 member countries of the organization for economic cooperation and development oecd increased by around one pct in the first quarter of 1987 to 359 mln barrels a day the iea said in its latest monthly report
before the 568 mln stg contested bid was launched last month williams held 850000 ordinary shares or 067 pct and since then it had acquired options to buy a further 199 mln or 158 pct
resource said it would receive a cash payment and an overriding royalty interest on oil and gas production from wells drilled on the property
shr 125 dlrs vs 114 dlrs net 472254 vs 446805 revs 214 mln vs 194 mln
exporters now need financing in riskier markets and on deals which are smaller take longer to put together and close bohn said in his testimony
a company spokesman said it does not expect any adverse impact on earnings from the move
van dorn co vdc 4th qtr net
shr five cts vs seven cts net 64652 vs 96157 sales 1205321 vs 1499591 note backlog three mln dlrs vs 2600000 as of june 30 1987
the farm bureau also urged agriculture secretary richard lyng to adjust the loan rate for 1987 crop soybeans as much as he deems possible under the farm bill to keep soybeans competitive in the world market
hercules fell 2 1 4 to 59 1 4 on 595000 shares
us meat processors ask for labelling change
commonwealth aluminum puts plant on the block
the december surplus originally was reported at 964 mln dlrs
national business loan data are scheduled to be released on friday
they are priced to yield 97 basis points over 10 year us treasury notes
the department said if deliveries of us wheat to senegal remain on track the us could dominate a wheat market that had been expected to import 140000 tonnes of mostly french wheat during the 1987 88 july june season
an investor group told the securities and exchange commission it plans to cut its stake in valero energy corp to 402925 shares or 16 pct of the total outstanding from 1522850 shares or 60 pct
ec appoints new trade chief
exports rose to a record 693 billion from 620 billion
cominco had pressed for a three year contract and some loosening of the rules on job classifications
it hovered today around 185 marks
hanson said the deals are subject to normal conditions of closing
the february year on year fall was due to lower vegetable fuel oil petrol electricity and gas prices and despite higher housing education footwear and clothing costs
in addition it also bought two mln stg of treasury bills in band two at 10 13 16 pct
pope evans and robbins inc said it has repurchased 780000 common shares from putnam mills corp principals sidney and peter kaplan for 225 dlrs per share
we estimate that should the trend in farm reorganizations continue reorganizations since 1984 could be adding almost 900 mln dlrs annually to program costs by 1989 gao senior associate director brian crowley said
shr 87 cts vs 73 cts net 147 mln vs 117 mln assets 838 billion vs 743 billion loans 391 billion vs 340 billion deposits 560 billion vs 508 billion
he did not specify what steps he had in mind but said he would like to see automatic official lending when needed so that brazil would not have to dip into its dwindling reserves now reported to be below four billion dlrs
he blamed this on high interest rates debt servicing and the repatriation of profits by foreign investors
the government regularly uses the term changed external economic factors when referring to the fall of the dollar which has severely damaged west german exports
this compared with a two pct growth forecast made by the semi official institute for economic research wifo last december
under limited cross compliance the plantings of other program crops on the farm may not exceed the crop acreage bases of those crops
it said gnp growth for 1986 was a real 25 pct down from 47 pct in 1985
citibank lowers australian prime rate to 16 pct
in annual average terms inflation would fall to two pct in 1988 from 25 pct this year and 27 pct last year it said
shr 52 cts vs 42 cts net 411 mln vs 332 mln sales 127 billion vs 9603 mln avg shrs 79800000 vs 78200000
the following proposed securities offerings were filed recently with the securities and exchange commission minnesota power and light co mpl offering of 50 mln dlrs in first mortgage bonds due april 1 1994 and 75 mln dlrs in first mortgage bonds due april 1 1997 through painewebber inc
it said the loan will cover the entire foreign exchange component of the projects total cost of 65 mln
moreover volckers successor alan greenspan has little experience of international affairs and third world debt
shr 36 cts vs nil net 713000 vs 1500 revs 13 mln vs 9328000
newmont gold ngc sees gold sales rising
the agency received in london quoted him as saying that iran did not need missiles to close the strait 24 miles wide at its narrowest because we can close it with artillery only he added we have the longest coasts and the highest interest here and the small southern gulf states have a lesser interest compared with us and therefore it is natural for us to protect the security of the strait of hormuz more than others
edward madigan r ill ranking minority leader of the agriculture committee
those resources are a reflection of very real concerns on our part in dealing with a very difficult problem wilson said in response to questions about management of the economy from opposition party members
iraqi warplanes also struck irans offshore oilfields at nowruz cyrus and ardeshir in northern gulf some 80 km 50 miles west of kharg island todays communique said
for the short term the key word is confusion block vice president tom bloch said in an interview
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 the usda said
qtr ended jan 31 shr 67 cts vs 69 cts net 1525000 vs 1570000 revs 412 mln vs 402 mln year shr 175 dlrs vs 154 dlrs net 4001000 vs 3522000 revs 1723 mln vs 1687 mln note figures include losses from discontinued operations in qtr of 309000 dlrs vs 253000 dlrs a year earlier and for the year of 309000 dlrs vs 1559000 dlrs a year ago
the capital flow for loans and their servicing had changed from a negative balance of 250 mln dlrs in 1985 to a net inflow of 130 mln dlrs last year he added
lending to the manufacturing industry was up 370 mln stg and to leasing companies by 308 mln stg
shearsons book value is in the 14 mln dlr range
houston oil trust said there will be no cash distribution to the unit holders in march
the first boston corp morgan stanley and co inc and painewebber inc are underwriting the issues the company said
long grain acreage as a percentage of total acreage is expected to decline this year the report said
first michigan bancorp fmbco 3rd qtr net
the securities are available in denominations of one mln yen each and are payable on april 23 1987
moreover it is uncertain how far us protectionism will get given the administrations free trade stance
company repurchased 12 mln shares of its stock during the 1987 3rd qtr
but he added i do not think it will be a big issue because there will be a big debate inside europe adding so there will be a compromise us trade representative clayton yeutter said yesterday that if the community went ahead with the tax the united states would respond vigorously to protect its trade rights and access to community markets
shortly before the bank said it had revised its estimate of the shortage up to 450 mln stg from the earlier forecast of 400 mln
carling said it will record an extraordinary gain of about two mln dlrs after tax or nine cts a common share resulting from the sale
speculation that edelman was going to take a stake in polaroid was kicking around a few months ago and resurfaced today one trader said
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
the certificates are not liable to stamp duty
the company said that subject to certain post closing adjustments it expects to post a small profit on the sale
grace gra completes retail unit sale
new york state electric nge ends acquisition
four of 10 indicators were positive including stock prices new business formation average work week and money supply
g usda projected exports for season
texaco canada cuts crude prices 64 canadian cts bbl par grade to 2226 canadian dlrs
it owns 60 pct of the westin in edmonton
ibc production director oripes gomes said in the statement that payment would be made within the official guarantee prices
he estimated the combined rise in malaysian and indonesian mature area at 87 pct next year after 95 pct this year and at 67 pct in 1989 and 50 pct in 1990
the whole tender policy is to have a call money of between three and four pct
the total number of registered unemployed in the first quarter of this year was 437500
the co lead managers are orion royal bank ltd and citicorp investment bank ltd
seton co said its board of directors unanimously approved an agreement and plan of merger providing for the merger of seton with a unit of s acquisition corp a new jersey company
a and w brands inc said it filed a registration statement with the securities and exchange commission for a proposed public offering of 3400000 shares of common
spethmann said engineering turnover would not be lower this year but lower steel prices would result in a drop in steel turnover and sales volume
the defense group subsidiaries are astronics corp which is based in santa monica calif and employs 1076 people instrument and avionic systems corp based in grand rapids mich and employs 3479 people international corp based in stamford conn and employs 266 people and development sciences corp based in ontario calif and employs 237 people
criticism is not a one way street he did not elaborate but bonn has often called on the us to reduce its federal budget deficit
the failure could be a blessing in disguise for fujitsu as it might have had to spend several hundred million dollars to modernise fairchilds production lines capels murtha said
soybean supply demand by country usda
the experts say that without a major initiative from the development banks the vicious circle will continue with countries cutting more forest to help service short term debts at the cost of long term insolvency
however the tonnage allocated to it 7000 tonnes is roughly equal to its expected output this year
act said it has not disclosed the deals terms but added that 50 pct of the sale price is in cash with the remainder to be paid over a two year period
tin pact extension likely itc delegates
singapores major banks are diversifying and gradually shifting their asset holdings from loans to debt instruments banking sources said
india is to partially cover the cost of its malaysian palm oil imports through a countertrade deal involving the construction of two bridges valued at 20 mln dlrs an indian trade source told 
the dollar is expected to try its psychological barrier of 15000 yen and to fall even below that level a senior dealer at one leading bank said
the location of a warehouse in singapore is also a positive move by the lme given its ideal location for australian and japanese traders who would be able to place metal on to warrant speedily and relatively inexpensively they said
operating costs are expected to average 201 dlrs per ounce of gold for the mine life and 171 dlrs per ounce in the first three years
it may be possible for them to sell additional loans kotowski said
the fact that us sales will account for a larger percentage of overall sales this year than before does not pose problems for profit the porsche board said
robert cheadle analyst at montgomery securities said you have to ask yourself why no one in the industry made a bid scott drysdale analyst at birr wilson securities said the company has not made the best strategic moves over the years
the fact the dollar plunged below 150 yen does not mean anything significant under the floating system he said
the year ago period included a 22 mln dlr charge from a writedown of securities
analysts said such a merger would be costly and complicated
dynascan said the group was projected to provide about 12 pct of its consolidated sales in 1987
it was not immediately clear what impact the denial would have on twas bid to take over usair
woolworths ltd wlwas said policy management and financial changes initiated during the 1986 87 business year should cause profits to reach more acceptable levels in 1987 88 end february 1
venezuela tightens foreign exchange restrictions
indian oil firm gets 35 billion yen credit
the dividend is payable may 29 to holders of record april 24
if anything the us decision to slap tariffs on japanese electronics goods should support the dollar against the yen because it will cut japanese exports to the us he said
viacom international inc gets another new national amusements bid
concepcion speaking at an informal meeting of the general agreement on tariffs and trade gatt here said ministers declared in uruguay last september that the trade of less developed nations should not be disrupted
cellular inc said it reached a definitive agreement to sell assets of its wholly owned michigan cellular inc to century telephone enterprises inc ctl and add 28 cts a share to the years earnings as a result
abc said the deal had originally been mandated for 50 mln dlrs but a lead management group of six banks each underwriting 10 mln dlrs had been formed prior to general syndication which started today
apparently they are willing to continue discussions but whether they will alter their position i dont know
noble broadcast group inc said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr issue of senior subordinated debentures due 1999
towe
the indian state trading corporation stc bought three cargoes of rbd palm olein at its vegetable oil import tender yesterday traders said
dealers said they expect the six britain canada france japan the us amd west germany to meet just before the imf world bank interim committee meeting in washington starting on april 9
the officials most of them economists can offer no objective reason why they are not
the fluctuating official rate is about 136 pounds to the dollar
waxman industries inc is raising 25 mln dlrs through an offering of convertible subordinated debentures due 2007 with a 6 1 4 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
output increased by 56 pct from january 1985 to january 1986 and 09 pct from february 1985 to 1986
sao paulo state presidente prudente nil votuporanga nil franca nil catanduva nil sao carlos nil sao simao nil
the bank will also buy 170 mln dlrs of bills maturing in early june and 200 mln dlrs of bills maturing late june for its own portfolio
they need to support the stock and security markets he said
general electric is the successor obligator to rca
the warrant will be for a term of two years
it said computer technology by light signatures initially will be used to safeguard warranty glass
argosystems has granted boeing an option to buy up to 1238311 new shares or a 156 pct interest at 37 dlrs each and shareholders have granted boeing an option to purchase up to 597885 shares at the same price or about 89 pct of those now outstanding without taking the company option into consideration
the gmac seven year notes were given a coupon of 745 pct
a second high command communique today said iraqi warplanes flew 94 sorties against iranan targets and positions at the war front
american international petroleum to buy assets
sorghum harvesting moved slowly forward reaching between four and six pct of total planted area compared to two to four pct a week ago
mtech mtch files convertible debt offering
oper shr loss 11 cts vs loss 14 cts oper net loss 1963000 vs loss 2199000 revs 175 mln vs 409 mln year oper shr profit nine cts vs profit two cts oper net profit 1555000 vs 456000 revs 863 mln vs 1437 mln note net excludes extraordinary tax charges of 115000 dlrs vs 995000 dlrs in quarter and credits 8096000 dlrs vs 1173000 dlrs in year
invacare is aggressively seeking acquisitions to complement the companys existing product lines mixon said
the united states hall said has nearly 500 billion tons of demonstrated coal reserves an amount more than triple that of all the worlds known oil reserves
it said as part of its restructuring it may sell some of its assets this year with unitholders receiving either cash from the sale or stock in the acquiring company
texas railroad commissioner james nugent saying that the ailing oilpatch cannot wait for congress to act today urged texas state lawmakers to adopt incentives to find new oil reserves and to exempt severance taxes on oil produced from stripper wells
the swiss franc yen exchange rate was fixed at 9727
the motion for retaliatory steps came from a cross section of mps reflecting the strength of feeling inside parliament
some dealers said there were growing signs the united states wanted the dollar to fall further
more ccc credit guarantees for algeria usda
south koreas index of leading indicators rose 19 pct to 1729 base 1980 in february after a 08 pct rise in january to stand 172 pct higher than in feburary 1986 provisional economic planning board figures show
ecuador asked for the loan to guarantee domestic supplies and would ship an equivalent volume back to venezuela in repayment in may lusinchi said
ina signed a similar deal with west germanys hoechst ag hfagf two years ago
harris associates lp a chicago investment advisory limited partnership said it lowered its stake in bell industries inc to 1015800 shares or 187 pct of the total outstanding from 1083800 shares or 200 pct
gaf corp said it has made an all cash merger proposal to borg warner corp at 46 dlrs per share for all the companys common stock
maize harvesting continued moving forward in central santa fe though slowly
the bond is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
international technology itx sees 4th qtr loss
met pro corp mpr 4th qtr ends jan 31 net
debtor countries including the very poorest states have only a few avenues open to them for earning foreign exchange including the key one of exports
non callable for life the issue is rated a 1 by moodys and aa by standard and poors
the accumulated trade surplus over the first two months of 1987 stands at 1204 mln dlrs against 1328 mln dlrs the previous year
processors are competing vigorously with river dealers for the few soybeans being offered by country elevators with a decatur illinois processor raising its spot soybean basis bid another two cents today to 10 over july futures
that rule is go into effect on january 1 1988
the three pct payment will be due july 15 1987
the most urgent problem now is the trade question because that has to be decided within the next 10 months clark told the commonwealth club of california
1987 nine mths net also includes a loss of 220 mln dlrs from discontinued operations due to completion of previously announced sale of fairchild semiconductor business
14 the day after a contract between ibp and local 222 of the united food and commercial workers union expired
one pdvsa official said the company was looking for independent oil companies with good refinery and distribution network and a strong regional presence
chock full onuts corp is raising 60 mln dlrs through an offering of convertible subordinated debentures due 2012 with a seven pct coupon and par pricing said lead manager drexel burnham lambert inc
uk base rates now running at 10 pct are still relatively high compared to other western countries and analysts said a further base rate cut to 9 1 2 pct was unlikely to affect sterling
contrary to the conventional wisdom therefore the 1981 tax cut is not the root cause of the extraordinary budget deficits of the past few years sprinkel said
africa where beer consumption averages only nine liters per head per year and sales are limited by import restrictions and currency risks nonetheless accounted for 65 pct of total 1986 sales
growth in oil consumption in the western industrialized countries is likely to slow to around one pct this year compared with 23 pct in 1986 the international energy agency said
foreign commercial business was influenced by a fall in west german foreign trade but earnings were still satisfactory
western federal savings bank wfpr 1st qtr net
bankers said these rates will put the securities within reach of almost everyone and will create a more active market
for fiscal 1985 cardis reported operating income of 8680000 and net income of 1150000 dlrs and in the first quarter of fiscal 1986 it reported a 495000 dlr loss from continuing operations
until now finance has been the responsibility of klaus luft who was named chairman of the board following the death of company founder heinz nixdorf in march 1986
the industry is likely to seek to renew the cartel for 1988 89 as the transport ministry sees new orders falling to 31 mln cgrt in 1988 89 from 33 mln in 1987 88 they said
trade wars and possible protectionist measures amongst the us japan and europe would also hamper polands efforts to regain entry
oper net for 1986 excludes extraordinary loss of 11 mln dlrs or 17 cts a share due to the june 1986 write off of unamortized debt issue costs from the public offering
the deadline for seeking icc reconsideration of the merger plan is midnight tonight
that meeting ended without agreement on new buffer stock rules
allied supermarkets asu files proposed merger
shr na net profit 2000 vs profit 195000 revs 2623000 vs 2577000 year shr na net loss 425000 vs profit 278000 revs 154 mln vs 8637000
he said the board accepted offers for 25000 tonnes of wheat from grain firm j
twa said it is filing an application with the department of transportation seeking approval of the merger as well as an application for approval on an expedited basis of its purchase of up to 51 pct of usair common and the deposit of the stock in a voting trust pending dot approval
the partnership called the response inflammatory and unproductive particularly since it had attempted to discuss the offer with gencorp
grain traders and analysts expect lower wheat and soybean exports and higher corn exports than a year ago in the usdas export inspection report today
bastian currently holds 253700 cosmo common shares or five pct of the total outstanding
analyst pulcine said she might lower full year earnings estimates for the banks by between two cts and 10 cts a share assuming a possible settlement reduced brazils interest costs
austmet will have an initial equity base of one mln stg a turnover of 200 mln australian dlrs rising to 300 mln in the first year and credit lines of up to 30 mln us dlrs
ottawa announced previously it was seeking parliamentary approval for the additional authority to cover the financing of an increase in the governments foreign reserves
president ali khamenei prime minister mir hossein mousavi and now rafsanjani within 24 hours of the us action have all vowed retaliation
norstar bancorp said that its board and the board of fleet financial group have approved a definitive agreement to merge
the higher guilder is causing a substantial fall in unit labour costs abroad when measured in guilder terms while these are rising slightly in the netherlands the cpb said
the 1986 total excluded extraordinary gains of 563 mln dlrs partly from the sale of some of its stake in the south china morning post the leading english language newspaper compared with 369 mln dlrs the previous year
periods end january 31 1987 and 1986 shr 12 cts vs nine cts net 507000 vs 362000 revs 5010000 vs 3558000 note system software associates inc is full name of company
jaap klootwijk managing director of downstream unit shell uk oil said refining margins in the first quarter of 1987 were a bit better than the very bad fourth quarter 1986 in november and december in particular refining operations had shown negative margins following the fall in crude and oil product prices he said
the january announcement said the rights issue would finance bond corps 14 billion dlr acquisition of a 2377 pct stake in hk tvb ltd tvbhhk from film magnate run run shaw
consumer prices in february rose 03 pct compared with 01 pct in february last year the bureau said
shr loss 36 cts vs loss 57 cts net loss 4589000 vs loss 7339000 revs 199 mln vs 196 mln avg shrs 147 mln vs 133 mln note company is a subsidiary of british land co plc
however it said it is unlikely the company will sustain the same record pace of sales and income throughout 1987 due to an expected reduction in throttle body sales
it also said miles its pharmaceutical and healthcare company recorded net income of 29 mln dlrs a 44 pct increase over 1985
usx corp said its uss division has available a comprehensive sheet steel selection and pricing system detailing the companys full line of products
johnson products inc jpc 2nd qtr feb 28 loss
this is congress number one opportunity to attack the trade deficit in a positive way by exporting more the washington democrat said
such a delay would not bode well for proponents of an expanded 0 92 program since spring planting in many areas of the country will be underway in the next few weeks and signup for the 1987 wheat and feedgrains program ends march 30
the ministry of mines has announced the discovery of a major gold field in grand bois in haitis mineral rich north
the business bulletin newspaper said the firm had assets totalling 122 billion pesos while dbp and pnb exposures with the firm were estimated at 149 billion pesos
wainco oil wol completes wildcat well
but in the mortgage sector the margins had increased slightly and stood around 07 pct
analyst says ussr winter grains hurt by weather
irving bank v 1st qtr net hurt by brazil
higher us interest rates would merely raise their interest payment burden and depress us stock and bond markets further the monetary officials said
initially a portion of the proceeds will be used to reduce funds drawn from miniscribes revolving bank credit facility
central bank intervention in the foreign exchange markets succeeded in staunching the dollars losses today but senior dealers here believe the us currency is headed for a further retreat
the shares that smc now proposes to buy from the ucpb are owned by 14 mln coconut farmers diaz said
proponents of the measure including the american soybean association have claimed palm palm kernel and coconut oils are high in saturated fat and can contribute to heart disease
but capital expenditures for exploration and production were cut to 46 billion dlrs from 76 billion the previous year and further reductions were expected in 1987
cominco and tecks 22 pct owned lornex agreed in january 1986 to form the joint venture merging their highland valley copper operations
we are now trying to rebuild our capital structure
a committee of the national association of broadcast employees and technicians discussed the offer but after three hours they had not come to any decision
for the first quarter comeau predicts the company will earn 39 cts a share from 35 cts a share a year ago and should earn about 205 dlrs for 1987
shr 99 cts vs 97 cts net 31011000 vs 30899000 sales 6515 mln vs 5831 mln year shr 313 dlrs vs 292 dlrs net 98643000 vs 92347000 sales 261 billion vs 251 billion note 1986 results reflect two for one stock split of july 23 1986
current year figures include 51 mln dlr incrase to reserves for estimated real estate and loan losses
in january the judge ruled that the uk court had no jurisdiction to wind up the tin council the itc was not an association within the meaning of the uk companies act and the winding up petition was not a proceeding in respect in respect of an arbitration award
contl materials cuo ends consideration of bid
bayou resources inc said it reached an definite agreement to be acquired by patrick petroleum co through a stock and cash transaction valued at six dlrs per bayou share
the straight bond to be priced at 101625 will carry a 475 pct coupon to yield 4445 pct
csr said it had dropped plans to float its oil and gas interests held in the delhi australia fund and would instead sell them to exxon corp unit esso exploration and production australia inc for 985 mln dlrs
malrite guaranteed said it is a limited partnerhip formed to acquire and operate radio and tv stations
asked whether the us was proposing a new initiative regarding the indicators the official said the issue would be reported to the venice summit in june
excluding the 13 billion dlrs in loans to brazil net non accrual loans at the end of the second quarter declined 200 mln dlrs over the 1987 first quarter it said
national amusements holds 196 pct of viacoms stock
movement of canned fruit has improved and remaining suppies for some canned fruit items are tight and as a consequence prices have strengthened the department said
the buffer stock working group is to meet again on rules monday morning and the full council is to reconvene tuesday delegates said
net includes loan loss provision nil vs 40000 dlrs
the country would lose an estimated 800 mln dlrs in crude exports until the pipeline was repaired the president said
ltx corp ltxx 2nd qtr jan 31 loss
analysts and wall street sources doubted a competitive offer would emerge since the company has been for sale for sometime before the deal with hutton was struck friday
legal and general group plc year 1986
oper shr profit one ct vs loss four cts oper net profit 104386 vs loss 196265 revs 8174652 vs 2309979 avg shrs 6285714 vs 5500000 1st half oper shr profit nil vs loss eight cts oper net profit 26541 vs loss 419758 revs 120 mln vs 5088134 avg shrs 5836735 vs 5500000 note current year net both periods excludes tax credit of 107370 dlrs
snyder soi makes cenergy crg exchange offer
once this is done time can be dedicated to working towards a new international sugar agreement isa with economic clauses he said
trading profit 528 mln stg vs 525 mln
the group includes brookehill equities inc a brokerage firm and moore grossman and derose inc an investment advisor
richard gephardt to mandate a reduction in trade surpluses with the us by countries such as japan south korea and taiwan
while exact terms may not be determined until the transaction becomes effective porex said each porex share is expected to be exchanged for 082 medco share and 538 dlrs in cash subject to approval by sharehoilders of both companies
the bank of spain provided 1145 billion pesetas in assistance funds which bankers said reflected fears of fresh increases in overnight rates
but he has not put together a consortium nor has he been buying shares he was quoted by the irish magazine business and finance as saying he would be interested if it came on the market and that he had the support of two international banks if he decided such a purchase might be worthwhile
about 2900 hectares of rubber planted with the rubber research institute rri clone 103 have been hit by the fungus corenes pora which attacks the roots of the tree and kills the leaves
he added in 1987 88 some 2766 billion riyals had been allocated for major projects including housing and public buildings social services health education transport and communications electricity and water industry and agriculture
sumitomo trust and banking co ltd has agreed to provide the letter of credit
the cool unflappable northerner who was regularly voted most popular government politician last year had to face resistance from local barons in the government coalition parties and from trade unions to his planned subsidy cuts
he said about 10 banks are likely to finish details of the project in a few weeks
a turkish west german joint venture turk henkel as issued the first commercial paper in turkey through private yapi ve kredi bankasi as bank officials said
while innovations may be intellectualy stimulating they lack transparency he told an investors forum in west berlin
dealers said major consumers still need to cover their may and june requirements but are holding out for even lower offers
requests for barley were for export to switzerland austria and lichtenstein ceuta and melilla at an unchanged pre fixed restitution of 125 ecus a tonne while requests for soft wheat flour were for export to various non ec countries at an unchanged 178 ecus a tonne
however with the likelihood that oil prices would not repeat last years rapid drop the prospects for standard returning to profitability this year and bp benefitting from its cash flow were good
the year on year rise was 1964 pct up from 3583 billion at the end of december 1985
the company said it is issuing the debentures with an indicated coupon range of 5 3 4 pct to 6 1 4 pct and an indicated conversion premium range of 24 26 pct
brunswick bc sees higher 1987 first quarter
cycare systems inc said it bought control data corps cda medtec unit for an undisclosed sum
group orders 1103 billion francs vs 1300 billion
most expect saudi arabia to oppose a price increase at this meeting but many look for an increase by year end to 20 dlrs to offset the decline in the dollar
moreover the bond markets inertia has compared unfavourably with the rash of activity taking place in high yield markets overseas like the uk as well as in us equities
the government daily izvestia said a considerable amount of soviet winter crops need to be reseeded and the state 1987 grain harvest target of 232 mln tonnes will not be easy to fulfil
the pound also was boosted by suggestions of an improving uk economy anticipation of a popular british budget on march 17 and public opinion polls showing good chances for the incumbent conservative party in any general election
company went public in august 1986
ope shr 63 cts vs 80 cts oper net 3169000 vs 3757000 revs 9585000 vs 102 mln avg shrs 5070000 vs 4721000 note net excludes gains from sale of investments of 887000 dlrs vs 304000 dlrs
alcan australia ltd als said it will make a 393 mln nz dlr cash bid for all the issued shares of alcan new zealand ltd at 180 nz dlrs each with a four for three share alternative
it said its consulting operations now provide a platform for major future expansion
following are extracts from the communique issued at the conclusion of the opec conference here
first medical devices corp fmdc year loss
lear siegler debt ratings withdrawn by s p
a detailed package on how the buffer stock manager will buy and sell cocoa was presented to a buffer stock working group this afternoon a big step toward a very interesting stage of negotiations delegates said
amsouth bancorp aso sets exchange ratio
he said however that among countries to which france could increase its wheat exports were egypt and the maghreb countries morocco algeria and tunisia he said
the agency said the most recent increase was largely due to last years poor performance
kritchevsky a specialist in nutrition said more saturated fat would raise cholesterol levels so from that point of view its a health risk
currencies could influence bullion again montagu
the narrow measure of money supply m0 fell by a seasonally adjusted 08 pct in february and rose by a non adjusted 41 pct year on year
last year the average dealership had 112 mln dlrs in sales a 15 fold increase from 1956 and employed 34 workers
first american financial famr in special payout
zenex oil pty ltd said it acquired the interests of esso south africa the local subsidiary of exxon corp ltxon and will use up to 20 mln rand in profits to finance educational and social programs
the issue was increased from an initial offering of 40 mln dlrs because of investor demand for high yield securities
the bulk of the house trade bill was written last week in four committees
for producers with low production costs that difference is greater and can be applied to paying variable costs he said
the wheat consisting of 60000 tonnes of hard red winter and 60000 tones of soft red winter is for delivery during the 1987 88 season which begins june 1
control data cda unit sells five year notes
a text was released in washington
those expecting a draw of as much as four mln barrels said they are looking for fairly high consumption rates as the spring and summer driving season gets underway this year because retail prices are still low compared to recent years
we believe their action is inappropriate in view of the stability we are experiencing in the market the realization of the anticipated improvements in our steel operations and our current liquidity level the company said
however the trend was reversed following a strong upswing in sterling versus the dollar and values fell back briefly to 4100 stg last month after approaching 4700 stg in december
capital spending for the year was 119 mln dlrs against 105 mln for the previous year with 50 new stores opened but total sales were below target woolworths said
the company said it sold dublin calif based plant cell research to montedision spa of milan italy and arco seed co to uf genetics of hollister calif
but if interest rates rise it is the homebuyer who has won the benefit of cheap money
retaliation could also be prompted by relaxing standards for findings that imports were injuring us firms
along with new financing argentina reportedly wants lower interest rates on an existing total 53 billion dlrs in foreign debt and elimination of foreign banks control over how some of the money is loaned in argentina
usx took a fourth quarter charge of 103 billion dlrs to restructure its steel operations
mcandrews and forbes are offering 1850 dlrs per share for revlon stock
i can only emphasize that our role there is deterrent that were going to be assuring safety for american shipping and that that shipping is not related to the war itself state department spokesman charles redman told reporters
all of our businesses are producing better results than last year even though we do not see significant improvement in the external market environment he said
on friday this uncertainty helped push london cocoa futures down to eight month lows
because of the disruption to business from carnival minimum reserve figures for the start of the month are unrealistic making it difficult for banks to assess their needs at the tender
soviet winter crops did not get off to a good start because of a dry autumn last year and because of the severe winter they probably have had more damage due to winter weather than normal mcminimy said
brazilian officials expect growth of only two pct after eight pct last year and a 30 pct drop in the projected trade surplus while independent estimates put inflation at 200 pct
south africa gdp up 47 pct in 1986 last quarter
usda estimates soviet wheat coarse grains
i am not aware of any direct contact between washington and fujitsu but that doesnt mean it doesnt exist brooks said
it will invest in international shares with the emphasis on us and japanese markets he said
bank regulators have become concerned about the use of swaps because the middleman usually a bank takes on some portion of the risk but is not required to show it on the balance sheet as a liability and may not have sufficient capital to cushion it
the strategy is sufficiently broad as an initiative or concept that there can be additional emphasis such as in debt equity swaps and that sort of thing a reagan administration official said of the slow pace of commercial bank lending to the third world
despite the dearth of activity in the dollar straight secondary market two new dollar issues were the only early features on the primary market
geodyne geodo sets warrants acquisition
us agriculture secretary richard lyng said no decisions were taken today at a white house economic policy council meeting
the rate for the west german mark was 91328 today a sharp drop from september when it was 78606
valley resources vr sets stock split ups payout
the rail line to hangzhou will be double tracked by 1995
elxsi ltd said it sold three computer systems worth four mln dlrs to douglas aircraft co a unit of mcdonnell douglas corp
international proteins said its agreement with hanson trust is subject to stockholder approval at the annual meeting which is expected to be held in june
venezuela will reprogram six billion dlrs in debt
at todays council session politoff said the us would try and find a way to pay the balance of about 50000 stg later this year
nps technologies group npsgu 4th qtr
all partners had agreed that the dollar was at about the right level and that further changes would damage growth he said
a resorts spokesman said the ksz offer was made in a two page letter and that resorts could not comment on it because it did not contain enough information
union enterprises ltd said holders of 72 mln or 80 pct of its class a series one preferred shares requested to retract their shares under terms of the issue thus raising unicorp canada corp s voting stake in union to 58 pct from 50
the loan was approved by the korean finance ministry because it is for use outside korea and will not raise the countrys indebtedness he said
us consumer credit rose 177 billion dlrs in feb vs revised 789 mln jan gain
the dividend increase will be effective with the april 30 payment it said
ing predicts gold will peak at 510 dlrs this year from its current level of about 416 dlrs per ounce
the seafarers employers are also asking for a reduction in crew levels a move which the union said would cost about 400 jobs
it also has interests in a number of gas or oil pipelines
i have another debt one toward my people and my peoples efforts must not backfire he told diplomats
the ministry instructs banks to establish reserves for up to five pct of their loans to 35 financially troubled countries but it only grants tax breaks on reserves accounting for one pct of the loans
behind the latest dollar fall lies the belief that last months accord was no longer enough to stop operators pushing the dollar down the dealers said
the company said the transaction gives union central a cincinnati based mutual insurance company a total of 8804397 shares of manhattan national stock or 522 pct of the total outstanding
some traders and analysts expect limit declines in nearby contracts with spillover selling likely in cattle
the other joint bookrunner is yasuda trust and banco di sicilia is co lead
the budget is widely forecast to be a vote winner in the run up to a general election the major factor behind current bullishness in the government bond and currency markets
the spokesman said chrysler officials in detroit had already visited lamborghinis production plant in bologna and another visit may be scheduled
the company said shareholders at the may 14 annual meeting will be asked to approve an increase in authorized common shares to 100 mln from 25 mln as well as a limitation of directors liability and the establishment of a classified board
a 3 1 2 year labor contract at the plant expired december 13
the finance ministry is expected to grant licences to securities subsidiaries of us commercial banks soon following a similar decision for subsidiaries of european universal banks in which the parent holds a less than 50 pct
capital expenditure on large projects has been cut sharply
the company said the 9309394 piedmont shares together with the 2292599 piedmont shares already owned by usair constitute about 501 pct of piedmonts shares on a fully diluted basius but about 610 pct of shares currently outstanding
now there is no such consensus
narrowly based m1 rose 955 pct to 50 billion taka against a fall of 045 pct to 4564 billion in november and a 303 pct rise to 4551 billion to december 1985 it added
kaputin did not say when the corporation would be established or exactly what form it would take but said the government would study whether it should be directly involved in exploration or development
period ended august 29
herrington said an import fee would meet the first test spurring production but fail the second and third
1985 reflects tax benefit of 186000 for quarter and 573000 for year
shr 44 cts vs 71 cts net 148 mln vs 211 mln revs 6286 mln vs 6056 mln avg shrs 30743000 vs 26969000 nine mths shr 201 dlrs vs 193 dlrs net 650 mln vs 574 mln revs 189 billion vs 181 billion avg shrs 30782000 vs 26619000
the 10 year bond which pays 10 pct and is priced at par is guaranteed by the parent company bell group ltd whose shares closed in australia today at 1070 australian dlrs
arbed sa arbbbr year 1986
i have not yet had a reply
he said the inquiry will be the first step in setting marketing arrangements to apply after june 30 1989 when the underwriting and pricing provisions of the 1984 wheat marketing act expire
this is the second day running that exporters have reported corn sales to unknown destinations
ford motor co f raises qtly payout
condere said it expects first year revenues to be 90 mln dlrs
sims refused to say how the united states will beef up its seven ship middle east task force in the gulf to protect the 11 kuaiti tankers
water authority officials said the restrictions caused by high water levels include speed limits and directives to keep to the middle of the river to prevent damage to the river banks
and they mexico are a long way from seeing any money cross the table even as of today ongpin said adding he expected much quicker approval from all the philippines 483 creditor banks worldwide
still other analysts believe currency futures have yet to peak
in contrast ford motor cos f ford motor credit co unit last month sold 300 mln dlrs of same maturity notes priced to yield 762 pct or 625 basis points over treasuries
until last week there were few indications the package would be ready anytime soon
it said about 4400 current us employees and 12000 us retirees are presently supported by allis chalmers health care plans
we expect already in 1987 approximately to break even
fees are 1 1 2 pct for selling and one pct for management and underwriting combined with a 3 16 pct praecipuum
at meetings here this week both countries were accorded terms that were more generous than usually granted by the club
that was down from the previously reported 337000 rise in february
the debate centers on a rule known as fasb 15 under which banks experiencing delayed interest payments on real estate loans need not set aside reserves against debt principal if it is believed payments will resume
the dividend would have been payable may one
bank of france sells 16 billion francs of caisse de refinancement hypothecaire tap stock official
in a statement wilson said the action would permit the government to proceed with its debt program during a period when there was not sufficient borrowing authority which is granted by parliament to cover the governments needs
midway airlines inc which has frequently been mentioned as an acquisition target said it declared a shareholder rights plan
the pins proposal has now been left on the table as a separate option for those banks which might want to fund their own investments in the philippines or sell the notes in the secondary market ongpin said
banking sources said they expect that initially the currency futures would be dollar yen and interest futures would include japanese domestic yen certificates of deposit three month eurodollar deposits and 20 year us treasury bonds
four ships are currently loading 32000 tonnes including 24000 for egypt 6000 for tanzania and 2000 for mauritania
but the ftc said fears of refiner owned stations as part of a scheme of predatory or monopolistic practices are unfounded
s and w
in a newspaper advertisement the company said the offer is conditioned on received of at least 51 pct of harper and rows shares
for currency dealers karl otto poehl is the scourge of speculators for bankers he is the man who has played a key role in shaping the worlds financial destiny for the last seven years and for germans he is the guardian of the mark
senior ec financial expert in tokyo tomas de hora has watched the movements closely
marketing systems of america inc said it has retained richter cohen and co to assist in efforts to redirect its business through merger or acquisition
the combination will result in record earnings of 240 dlrs a share the wholesale distributor and processor of eggs said
world oil prices would remain stable despite the us attack against iranian oil platforms and growing tension in the gulf venezuelan energy minister arturo hernandez grisanti said on monday
progressive is currently the subject of both a proposed merger with rainbow and a full takeover bid from brierley investments ltd bil the bil bid launched on monday is at 420 dlrs a share
lutchmeenaraido said the move was aimed at boosting the local textiles industry and making this indian ocean island a shopping paradise for textile goods
the finance ministry has asked japanese commercial banks to moderate their dollar sales bank dealers said
texaco canada inc holds 25 pct mlc oil and gas ltd 15 pct northstar energy corp 135 pct and tricentrol oils ltd 115 pct
a customer may choose only one program it said
foundry
man ltd and singapores yeo hiap seng ltd jointly announced that man will buy a substantial stake in yeos 711 pct held unit yeo hiap seng enterprises ltd
the sullivan mine at kimberley produced 22 mln long tons of ore in 1986 most for processing at the trail smelter
the steel market weakened increasingly over the year mainly because of exchange rate movements the deterioration in foreign trade and a downturn in a number of customer industries
clark declined to forecast the outcome of the discussions
the company earlier this month said it will take a charge to earnings in the first quarter of 173 mln dlrs as a result of its deal to buy back 26 mln of its common shares from real estate developer donald trump
the sydney exchange plans to introduce by june a share index futures contract based on a composite of stocks on which equity options are traded which could generate more liquidity than the ordinary index banking sources said
shr 65 cts vs 47 cts net 177 mln vs 119 mln revs 1319 mln vs 1284 mln nine mths shr 177 dlrs vs 102 dlrs net 490 mln vs 270 mln revs 3417 mln vs 2695 mln
businessman has 57 pct of arden group ardna 
the plan foresees the shutdown of some seven mining and metallurgical units on the grounds they are unprofitable
still he has succeeded in holding up a merger of two airlines both of which analysts said would fit well with twa
guenther aschoff chief economist at deutsche genossenschaftbank in frankfurt said massive declines on world stock markets had been the main reason for the fall in west german short term interest rates on tuesday
earlier the company reported net income declined to 2650 mln dlrs from 2830 mln dlrs in the first quarter a year ago
uk money market deficit forecast at 450 mln stg
in a march 20 letter to champion chairman john tanis claremont and walsh representatives stephen walsh and john cirigliano said they were pleased with the companys performance but wanted to take an active management role
we selected the korean firm because its bid was the lowest he added
officials said initiatives discussed here would be submitted to foreign and finance ministers of the 11 nations before imf and world bank annual meetings later this year
souffle at 8049 dlrs per tonne fob for august shipment
us sells 3 mo bills at 563 pct stop 564 pct 6 mo 559 pct stop 560 pct
taiwans central bank issued 12 billion taiwan dlrs worth of certificates of deposit after issuing six billion yesterday bringing cd issues so far this year to 11547 billion dlrs a bank official told 
uk budget sees 1987 gdp growth at three pct
the us economy is showing some promising signs of accelerated expansion despite the sluggishness of the fourth quarter last year private economists say
dealing demand for gilts with coupons around 10 pct has been getting stronger the general manager of the local office of a british securities firm said
iea estimates on april one put oil stocks held in the oecd area at 428 mln tonnes or 98 days of forward consumption
the project envisages the creation of a council of agricultural research to formulate a national agricultural strategy and introduce a contract research programme to finance research activities the bank said
we want to be in every country that att serves he said
national westminster bank usa said higher loans and core deposit volumes as well as a substantial increase in net interest income contributed to a 16 pct rise in first quarter earnings to 177 mln dlrs from 153 mln reported a year earlier
shr 92 cts vs 116 dlrs qtly div 10 cts vs 10 cts prior net 5700000 vs 5400000 avg shrs 6100000 vs 3700000 note dividend pay may 15 record may one
at least one however estimated the company could be taken over in a range of 38 to 42 dlrs per share
they put purchases at around 50000 tonnes for sept dec shipments but said some of the business was transacted at the start of the year
prudential bache analyst mark rogers was not available for comment
sweden had a 1986 current balance of payments surplus of 76 billion crowns compared with a deficit of 101 billion the preceding year according to preliminary figures from the central bank
shr 39 cts vs 39 cts net 244 mln vs 238 mln revs 4259 mln vs 3962 mln nine mths shr 123 dlrs vs 104 dlrs net 763 mln vs 641 mln revs 126 billion vs 112 billion note net adjusted to account for the recent 2 for 1 split of the companys common
the company had said it could not forecast consistent profitability until 1988 at the earliest
chartwell group ltd ctwl 4th qtr net
the canadian bond rating service said it downgraded ratings for long term senior debt and subordinated debentures at royal bank of canada and bank of montreal due partly to loan loss problems
as previously reported northern star is raising 623 mln dlrs through placements and a subsequent one for four rights issue at 295 dlrs a share
although new credit needs were partly inflated by a large amount of issues maturing recently other factors including the governments tax reduction program would also reduce income next year
elevator loading waiting continental grain westwego 1 5 mississippi river myrtle grove 1 0 adm growmark 1 2 bunge grain destrehan 1 0 elevator loading waiting st charles destrehan 1 1 reserve elevator corp 1 0 peavey co st elmo 1 1 cargill grain terre haute 1 4 cargill grain port allen 0 0 zen noh 1 3
foothill group fgi sees better first quarter
the sources said the bulk of this weeks loan would be used to rehabilitate the state owned development bank of the philippines dbp and the philippine national bank pnb which are saddled with seven billion dlrs of non performing assets
it has been joined as a second main money supply aggregate for 1987 by m 2 which rose a provisional 12 pct in january after falling a confirmed 09 pct in december
transform logic corp said it has revised downward its previously reported fourth quarter and year ended october 31 results to reflect compensation expense for employee stock options
he told a press conference here g 7 should meet discreetly and quickly delors said if the dollar were to fall further against the mark to levels around 160 the european monetary system would undergo a test by fire delors said the current problems in the markets had been caused by excessive growth in financial trading excessive deregulation and the failure of the fundamentals of the world economy to adapt themselves quickly enough to changing circumstances
safeguard said the investment gives it a major ownership position in sanchez which specializes in software products for financial institutions
if further dollar declines are needed this could diminish overseas investment in us debt brusca added which might necessitate higher interest rates and lower bond prices
bankeast corp benho 3rd qtr net
galaxy cablevision lp said it signed a letter of intent to sell the assets of its cable television systems in west texas which serve about 4600 basic subscribers through nine cable television systems
48 pct owned by dome petroleum ltd dmp
spring plowing seventeen pct completed vs 66 pct a year ago and 48 pct avg
continental information systems corp cny 2nd
fed funds are already easing back down toward the six pct level the recent surge in oil prices has also been a concern to manufacturers hanover futures analyst jim rozich but the rally may be nearing a top around 1850 dlrs per barrel he said
itt corp itt regular qtrly dividend
he added japan might challenge the tariffs in the general agreement on tariffs and trade gatt but thats more of a paper kind of exercise and i dont really expect to see any adverse impact on us trade yeutter also said he did not see any way the semiconductor issue could be resolved before or during a washington visit later this month by japanese prime minister yasuhiro nakasone
coca cola enterprises inc is raising 600 mln dlrs through offerings of 10 year notes and debentures due 2017 said lead manager salomon brothers inc
the paper would be issued at a discount and guaranteed by the australian government hand said
the borrower is a unit of lucas industries plc lucsl
andriessen said the commission plans to present revised proposals along these lines in an effort to get a scheme agreed
including forward deals total deliverable volume was 2701 billion dlrs a day 1343 billion against the australian dollar against 1956 billion 848 billion in december and 992 billion 588 billion a year earlier the bank said
we could get a stiff rally possibly enough to bring yields on long bonds down to seven to 7 1 8 pct compared to the current yield of about 75 pct quinn said
the government can rely on the support of the world bank in a continuing program of adjustment to the economic realities of todays world he said
allegheny algho forming subsidiary
the treasury secretary warned that if the issue is left unresolved we cant look towards a greater capital replenishment here that would mean the us would use another multilateral development bank like the world bank as its principal vehicle for lending tied to fundamental economic reforms in debtor nations
the official media was initially slow in reporting the accident but under kremlin leader mikhail gorbachevs campaign for openness gradually gave more and more details
s korea minister to visit us for currency talks
pacific telesis group chairman donald guinn told a meeting of security analysts that the company sees continued earnings growth in 1987 above the 108 billion dlrs or 502 dlrs per share earned in 1986
the company also said it intersected another vein 90 feet west of zone two which assayed 0531 ounces of gold a ton across a width of 387 feet
note in april company intends to acquire michigan sealy licensee and fund transaction with 25 mln dlrs in cash and borrow balance required from banks
while cash in circulation deposits with statutory withdrawal notice and sight deposits grew sharply short term time deposits fell after expanding unusually strongly in january
s and p said that depressed market conditions would continue to constrain the new companys operating earnings and cash flow for several years despite dominant positions in the oil services industry
backlog 230 mln dlrs vs 147 mln dlrs at start of fiscal year and 148 mln dlrs at the end of the first quarter
public service co of indiana inc said it acted today to replace 35 mln dlrs in existing debt estimating that would save it about 18 mln dlrs a year
end june us interest rate forecasts t bonds fed funds prime nikko securities 825 615 775 money mkt services 800 625 750 discount corp 775 625 750 merrill lynch 730 575 750 bankers trust 725 550 750 wells fargo bank 730 560 700 irving securities 710 550 700 dean witter 700 550 700 forecast average 750 5875 750 current levels 780 6125 750
morgan guaranty australia ltd said it is expanding its 200 mln us dlr euro commercial paper program to include australian dollar issues
hospital corp of america said its management believes the 47 dlr per share acquisition offer it received from charles r
ibm acquired rolm a santa clara calif based maker of telephone swichboards and other telecommunications equipment in 1984
chase manhattan bank na is considering expanding its operations in italy particularly in the consumer banking sector a chase manhattan official said
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
swissair swszz year 1986
british petroleum co plc said based on a feasibility report from ridgeway mining co its joint venture ridgeway project in south carolina could start commercial gold production by mid 1988
all in all merrill lynch estimated that there would be 130 mln dlrs in fees and expenses connected with the deal
thailands improving economy will likely cause foreign reserves to increase to at least five billion dlrs by end 1987 from a record of nearly 42 billion at end february private bankers said
were definately not out of it at this point the hutton spokesman said
shultz not opposed to wheat subsidy to soviets
the dividend is payable may 1 to shareholders of record april 10
british petroleum co plc said it has scheduled a new york press conference for 1300 est 1800 gmt today at which senior management will discuss the companys proposed acquisition of the 45 pct of standard oil co srd that it does not already own for 70 dlrs per share
s p downgrades baker bko upgrades hughes ht 
they were unsure of the amount of the central banks purchasing but it seemed to prevent the dollar from weakening against the yen amid bearish sentiment for the us currency they said
sundstrand corp sns 3rd qtr net
morrison said that it was not aware of any party interested in acquiring the company
as expected market conditions have improved so that demand for automotive replacement parts is gradually and steadily expanding echlin president frederick mancheski said
the employment department said the rise in the index between january and february was mainly the result of higher prices for petrol fresh vegetables cars and car maintenance
firmer gas oil on the london futures and more bullish sentiment on the new york mercantile exchange futures market are supporting spot price levels they said
he quoted miyazawa as telling japanese reporters that major industrial nations are aggressively intervening in currency markets worldwide to prevent a dollar free fall
there were 3814891 gallons of foreign imports last week versus 133505 gallons the week before
uk grain exports continue to rise sharply
but the presidents instructions were unequivocal and unwavering do not yield one more millimetre and i dont care how long it takes
analysts are estimating united technologies will earn 375 dlrs to 450 dlrs a share in 1987
the trade surplus for the first two months of the year rose to 51 billion crowns from 49 billion in the corresponding period of 1986
but including shares already owned dixons now holds a total of 56 pct of the fully diluted outstanding shares
he said heinz japan is making a profit and generating its first substantial dividends and implementation of a new partnership seoul heinz ltd is moving ahead with a new manufacturing plant targeted for completion by june in seoul south korea
proposed dividend four crowns vs 338
the department headed by finch among other responsibilties makes certain that imf policies and loan conditions are wielded evenly among countries
the government is trucking water into parched farms in parts of northeastern eastern and southern provinces but not enough to satisfy farmers according to press reports
bankers welcomed the central bank measures saying these were needed to accelerate the domestic money market
european coffee roasters and traders have agreed to propose a new formula for calculating international coffee organization ico quotas dutch coffee trade association chairman chairman frits van horick said
ual will change its name to allegis at its annual meeting
he was among those advocating mining as a means of bringing iran to the neogtiating table
because the carrying value of many of these loans is collateral dependent a further decline in the overall value of the collateral base could cause an increase in the level of real estate related chargeoffs
the national oilseeds development program will invest 300 mln rupees in 1986 87 on supplying improved high yielding seeds and other support services to help boost production it added
they also discovered that cooking the meat didnt always prevent the disease
it also contrasts with the 1 16 pct fee bp paid on a recent 15 billion dlr refinancing of some existing debt
prime minister yasuhiro nakasone told a press conference the record rate underlines the need to pass the 1987 budget which has been held up by opposition to proposed tax reforms
in february last year the index stood at 1095
consumer members were not unified in their views on how the buffer stock should operate with several countries backing different aspects of the producer stance delegates said
liquidity also came in through the maturing of short term treasury bills bought from the bundesbank in the prior week
shr loss 64 cts vs loss 57 cts net loss 349 mln vs loss 221 mln revs 315 mln vs 602 mln avg shrs 601 mln vs 452 mln year shr loss 227 dlrs vs loss 166 dlrs net loss 1032 mln vs loss 576 mln revs 1298 mln vs 1695 mln avg shrs 512 mln vs 381 mln note per share results after preferred dividend requirements of 33 mln dlrs vs 35 mln dlrs in quarter and 129 mln dlrs vs 57 mln dlrs in year 1986 4th qtr loss includes accruals writedowns and non recurring charges aggregating 139 mln dlrs including costs anticipated in 1987 for the reopening of the sunshine mine and a writedown of the capitalized costs at the sixteen to one mine by 42 mln dlrs 1986 year loss includes charges totaling 100 mln dlrs
gros said brazil was likely to meet again with the 14 bank advisory committee once brazil had information to present on an economic plan
for 1986 norstar issued 131 dlrs annually in cash dividends on its common stock
diplomatic sources here said several recent actions by ec countries bear witness to a new disillusionment with the willingness or at least the ability of the japanese government to reduce its massive trade surplus with the ec
estimated oil and gas drilling completions in the united states dropped by almost 41 per cent in 1986 from 1985 the american petroleum institute said
the study by the management consulting firm said that partly due to corporate restructuring the rate of job growth in san francisco has slowed since 1980
they said the operation would be through the issue of depositary receipts by bnls london branch
gatt experts urged washington to resist protectionism and instead seek macroeconomic changes to reduce the current account payments deficit higher private savings lower investment and a smaller federal budget deficit
there will always be a potential risk of breakdown in international cooperation without a budget deficit cut
taiwans soybeans imports in calendar 1987 are targetted at 181 mln tonnes against an actual 174 mln tonnes imported in 1986 he said
once policy is in place gros said financing talks with the banks are likely to be tough and protracted a sentiment echoed by the countrys creditors
the grain companies are trying to get this fired up again an aide to agriculture secretary richard lyng said
the commodity credit corporation ccc accepted a bid for an export bonus to cover the sale of 7000 tonnes of mixed poultry feed to north yemen the us agriculture department said
the operation was to further its aim of obtaining a listing on foreign stock exchanges with a view to future capital increases through ordinary share issues they said
chesapeake corp said it has retained salomon inc sb to help it sell plainwell paper co inc a maker of premium coated and uncoated printing papers and technical specialty papers with a capacity of 85000 short tons a year
world bank president expects brazilian debt plan
in announcing the us sanctions yesterday president ronald reagan said he was prepared to lift them once he had evidence that japan was no longer dumping chips in world markets and had opened up its own market to imports
at a meeting march nine danforth informed bp that the special committee had hired first boston corp fbc as its financial adviser and also retained independent counsel
webcor said the american stock exchange is evaluating webcors continued listing eligibility
the newspaper said the inter agency government study found a serious oil dependency problem due to steadily falling domestic production and rising demand for imported oil
no soviet wheat bonus talk planned for meeting
moreover it said it will relocate its headquarters to glendale calif
under terms of the transaction which would result in a 13 billion dlr thrift institution stockholders of jefferson will get 3050 dlrs per share half in cash and half in shares of charter
kodak said depressed prices and poor financial performance have led to the decision
the firmer tone to refining margins in europe and the us relected higher prices for petroleum products particularly gasoline and support from crude oil prices
emery air freight said hutton group ends offer for purolator courier
but one industry source doesnt think oil prices will hold recent gains and more government assistance is needed
together with two other main shareholders it also advanced fermenta an additional 65 mln crowns until a new equity issue could be made
and we must continue to oppose protectionist pressures he added
he said trade last year totalled 13 billion dlrs versus 700 mln dlrs in 1985
paemen a belgian official who had previously been chief aide to former external affairs commissioner etienne davignon has been in his post since january 1985
fed expected to add temporary reserves
wavehill international to make acquisition
twa said icahn reserves the right to make a subsequent proposal at some future date on the same terms or different terms
arvin industries arv offers securities
the basic deposit on cocoa futures contracts will be reduced by 25 pct as from friday april 10 taking the required deposit for one 10 tonne lot to 300 stg from 400 previously a spokesman for the international commodity clearing house icch said
the facility will be used to fund bank of irelands new uk home mortgage subsidiary bankamerica finance ltd which will be renamed shortly
this combined with savings in raw material and energy costs helped offset falling prices and cost increases in other areas
they said new planting of palms is also likely to slow with some 50000 hectares expected to be planted with new trees against 100000 in 1986 although the effects of this reduction will not be felt for about another three years
treasury secretary james baker and other administration officials over the weekend pointed to the pending legislation which they brand too protectionist as a key factor in the record setting drop
ain leasing corp 3rd qtr jan 31 loss
qintex america ltd said it is again extending its offer of 13 dlrs a share for 33 mln princeville development corp shares until today from yesterday
in mid february piedmont said its board would meet to discuss all proposals to acquire the company
emerys bid expires april 28
reagan hints us wants help in patrolling gulf
allegheny ag aims to divest more businesses
qtrly div 10 cts vs 10 cts prior pay april 30 record april 21
the head of the national merchant marine authority murilo rubens habbema was quoted in todays gazeta mercantil newspaper as saying that if the strike continued foreign ships could be authorized to transport brazilian exports
parent domestic turnover 710 billion vs 814 billion
chairman gerald f cox said the improved performance was mainly due to product prices falling more slowly than crude prices during the year
the economy is not receiving a considerable amount of the equipment that it requires said talyzin who heads the state planning committee gosplan
the us and most other consumers are still determined to make reimposition of quotas conditional on a redistribution of quota shares based on objective criteria ico observers remained sceptical that brazil would be prepared to accept a quota reduction when the ico council meets in september
iraq ccc credit guarantees switched usda
economists had expected three or six day repurchases because the fed needs to add a large volume of reserves this statement period
entourage entg has first quarter loss
shr loss 34 cts vs loss 14 cts net loss 798000 vs loss 213000 revs 15 mln vs 15 mln year shr loss 61 cts vs loss 208 dlrs net loss 14 mln vs 10 mln revs 68 mln vs 60 mln note1986 net loss includes non recurring charges of 132000 dlrs and 270000 dlrs
qtrly div 301 cts vs 341 cts prior pay april 14 record march 31 note company said prior qtr includes end of year additional four cts dividend
hcf porsche ag pshgf said earnings in first half year 1986 87 were satisfactory despite burdens caused by the dollars weakness against the mark and stagnating domestic demand
champion home chb sells two properties
in 1986 the company earned 442 dlrs a share
some cotton specialists said their expectations for increased acreage might not be verified in tuesdays planting intentions report
clearly in the case of land reform the question of land transfer by definition is transferring assets from the landed to the landless arrivillaga said
the fund which customarily omits dividends in march and september last paid six cts in february
georgia pacific gp sees gain from sale
in a presentation to the japan society solomon said without elaboration that he expects a significant decline in the dollar within the next three years
i am astonished that the ec commission would propose such a provocative measure so soon after we successfully resolved the agricultural dispute over the enlargement of the ec to include spain and portugal yeutter said
this in turn would bring a swing back to extremely high prices he added
the australian government telecommunications authority telecom australia said it will offer two bond maturities totalling 40 mln australian dlrs for tender next week
the general acquisition partnership called the response inflammatory and unproductive particularly since it had tried to discuss the offer with gencorp
parent bank net profit 1815 mln schillings vs 1351 mln parent bank balance sheet total 1977 billion vs 1822 billion parent bank cash flow 8774 mln vs 7155 mln dividend 12 pct vs 10 pct on nominal share capital of 15 billion vs 135 billion
freight from upper areas of the mississippi have risen nearly 50 pct in the past two weeks to over 150 pct of the original tariff price
gunze sangyo inc of tokyo is issuing 25 mln swiss francs of five year convertible notes with a 1 1 2 pct coupon lead manager swiss volksbank said
the issue is whether the 14 bank steering committee will endorse brazils request to the 700 creditor banks worldwide or simply relay it without comment
to be eligible for the credit guarantees all sales must be registered with the ccc by september 30 and shipments completed by december 31 1987 it said
shr loss 351 dlrs vs loss 614 dlrs net loss 32 mln vs loss 66 mln year shr loss 238 dlrs vs loss 517 dlrs net loss 692872 vs loss 45 mln note1986 loss includes loss of 301000 for discontinued oeprations vs a loss of 55 mln dlrs net of a 14 mln credit in 1985
proceeds from the offering will be used to refinance existing debt it said
the argentine grain board issued the following figures covering shipments of major export grains in the week to april 1 in tonnes with comparisons for the previous week and the same week in 1986
i think we are progressing very well the first battle will take place next week when the full house ways and means committee considers an amendment by rep
chuan hup said the issue has been arranged and managed by singapore international merchant bankers ltd simbl simbl has invited commonwealth bank of australia national australia merchant bank singapore ltd bank of china the bank of comunications co ltd dg bank gzb asia ltd kleinwort benson singapore ltd malayan banking bhd and nm rothschild and sons singapore ltd to subscribe at a price of 100 pct
american brands inc said it expects first quarter net earnings to exceed the record 1187 mln dlrs or 105 dlrs a share it earned for the year ago quarter
the stockpile now contains around 10 billion dlrs of materials
transcanada would not detail the profit level
hyperinfltion has been curbed and public spending trimmed but the countrys debt still trades as low as 10 cts on the dollar on the secondary market and many banks have written off most if not all of their loans to the country
canada zero issues canadian dlr zero coupon bond
to resign in this manner is highly unusual perhaps unprecedented a monetary source said
braatz expects blocks advertising budget to be about the same as last year which will be helped a bit by lower costs for television ads
official figures show chinas foreign debt at a post 1949 record 16 billion dlrs at end 1986
bank of japan governor satoshi sumita said the central bank has no intention of cutting its discount rate again as a way of preventing the yens rise
kurz kasch inc a dayton thermoset molding maker told the securities and exchange commission it had increased its holdings in component technology corp by two pct to 93 pct
highveld steel and vanadium corp ltd said it expects 1987 earnings will be lower than last years previously reported 85 cts a share
apart from investing 100 mln francs for the modernisation of cgct a new research centre with was also being planned
rogers expects the company to earn 750 dlrs a share in 1987 and 10 dlrs a share in 1988
we can support extension of the sixth agreement he said
brazil seeks to reassure banks on debt suspension
painewebber inc co managed the deal
the commissioners came away from the friday meeting with an informal agreement to respond to signs of flexibility among producers on the key buffer stock issues delegates said
the non binding senate resolution a sense of senate sentiment was approved on a 99 to 0 vote
australia today said the united states goals of reducing us barriers to agricultural trade were being contradicted by actions which in fact increased protection in trade in agriculture the australian delegation said in a statement
we took a bet that the freeing of prices would not provoke runaway rises and it is not absolutely certain that bet has been lost one oecd official commented
most have maturities of 10 years or less and were issued before 1984 the spokesman said
commerce secretary malcolm baldrige said he supported efforts to persuade newly industrialized countries nics to revalue currencies that are tied to the dollar in order to help the united states cut its massive trade deficit
haughey said an offer of commission help on debt management was made to him today by commission president jacques delors
britton lee blii sees first quarter loss
the category referred to as other covering bank and credit union loans fell by 250 mln dlrs in january after declining by 244 billion dlrs in december the fed said
chase corp ltd chcawe said it will make an offer for all fully paid shares and options of entregrowth international ltd it does not already own
the fully state owned dutch chemical firm nv dsm dsmnas said its 1986 net profit rose to 412 mln guilders from 402 mln in 1985 while turnover fell to 177 billion guilders in 1986 from 241 billion in 1985
taylor said the 173 commercial coffee growers under his association had increased production from 5632 tonnes in 1980 to more than 11000 tonnes in l986
the number of foreign banks has risen to 16 from just two in 1981
bankers said the governments policy of fostering lower interest rates could lead to a consumer boom and reignite inflation currently running at about 30 pct
in the future according to an agreement to be signed with the treasury the institute will no longer need to seek approval by the treasury to seek the release of additional funds to buy coffee the statement said
the stake had been acquired from telecom plus international inc
we could easily have another prime rate increase as soon as this week said david jones of aubrey g
the issue is callable after 90 days at 106 pct declining by one pct per annum to par thereafter
shr primary profit two cts vs loss nine cts shr diluted profit one cent vs loss six cts net profit 17156 vs loss 89594 revs 2360220 vs 3208802 avg shrs 870000 vs 1026627 note full name of company is people ridesharing systems inc
enro holding corp said it acquired enro shirt co and foxcroft ltd from wilson bros for 30 mln dlrs
communications and cable inc said it acquired about 21 pct of the outstanding shares of imnet corp a privately owned company that designs makes and services proprietary image storage and retrieval systems
kasler corp kasl 1st qtr jan 31 net
the recent failure of the london coffee talks had surprised market observers
philip crosby associates pca earnings delayed
staley continental inc said it sold its 50 interest in sociedad iberica de molturacion sa simsa a soybean and sunflower seed processing company based in madrid spain
reagan said his administration has already proposed deregulating natural gas and eliminating the windfall profits tax on crude oil production
it argues there might be instances in which a country needed the money to continue its moves toward us policies in other areas
us economist calls brazil debt request modest
traders said prices also were supported by an escalation in the iran iraq war with the iranians reportedly launching a new offensive against iraqi positions and iraq attacking offshore oil fields and an oil export depot
z seven fund sees higher 1987 net
there are currently 30 mln dlrs principal amount of the debentures outstanding the company said
us drilling activity rose last week with the number of working rotary rigs up by 23 to 784 against 1063 working rigs one year ago hughes tool co
net equity accounts share of associates earnings
elsinore corp elx year loss
cyprus has interests in coal and other minerals aside from copper
the fhlbb said south bay had assets of 625 mln dlrs and standard pacific had 3128 mln dlrs in assets
ethanol could make up five pct of gasoline cutting the oil import bill by about 300 mln pesos
ida the world bank arm which lends to the poorest countries said the projects are designed to increase agricultural productivity and farm incomes
the austrian national bank did not intervene on the foreign exchange markets today to support the dollar deputy banking department chief herbert danzinger told 
it is currently at about 2050 to the us dollar
but he did not elaborate or name any countries
he said that fiscal policy changes in the united states germany and japan would be more important that intervention to instill confidence in current exchange rate levels
annual ore capacity will be about 750000 tonnes
southeast banking stb files for note offering
bank of france to buy first category paper today
weizsaecker speaking at a reception held for him by president raul alfonsin at buenos aires city council hall also said no one could overlook the enormity of the obstacle posed by the foreign debt to countries like argentina
hughes tool ht up on merger speculation
shr profit 12 cts vs loss two cts net profit 182173 vs loss 28977 revs 4483047 vs 3994808 1st half shr profit 14 cts vs loss eight cts net profit 221376 vs loss 120435 revs 8270947 vs 7150265
1986 net assumes all warrants exercised for the 2nd qtr only
mexicos 77 billion dlr loan package will be signed in new york tomorrow amid increasing calls from both creditors and debtors for a streamlining of the tortuous process of raising such jumbo loans bankers said
buckhorn inc bkn 4th qtr loss
national data corp ndta 3rd qtr feb 28 net
it said a final deal is expected in mid april
trade issues straining ecs patience with japan
but market watchers were unsure what affect the move will have on japanese investors who have been snapping up canadian bonds at a record clip because of their traditional preference for long term financings
noranda inc said it will sell 150 mln dlrs of adjustable convertible subordinated debentures to a group of investment dealers led by gordon capital corp
in an interpretation of current rules which officials said clarifies the secs present position the agency said a tender offer must be extended if a minimum share condition is waived even if the purchaser reserved the right to do so
says it leads group with 98 pct of media general may seek control
shr profit nine cts vs loss 45 cts net profit 2500000 vs loss 9900000 revs 16800000 vs 3300000 note 1986 net includes 26 mln dlr or nine ct a shr writedown of nine pct stake in trans canada resources ltd 1985 results reflect only six mths of mining operations due to merger of erickson gold mines ltd and total eastcan exploration ltd on june 30 1985
shr 178 dlrs vs 164 dlrs net 117 mln vs 106 mln sales 202 billion vs 185 billion avg shrs 656 mln vs 639 mln year shr 325 dlrs vs 275 dlrs net 214 mln vs 177 mln sales 650 billion vs 596 billion avg shrs 656 mln vs 639 mln note share data restated to reflect two for one stock split in may 1986
the company said this was the third consecutive year it has raised its quarterly cash dividend
current year net both periods includes gain six cts shr from plywood manufacturers litigation settlement
based on conagras closing price of 34 dlrs today the transaction is worth about 3565 mln dlrs
the feasibility study used a 350 dlr gold price
tomasso and its executive vice president james d
the current account deficit would narrow to five pct of gdp this year and 43 pct in 1988 and net foreign debt would grow strongly from 81 billion at the end of 1986 to 972 billion at end 1987 and 1103 billion a year later
interest will be paid annually on april 7 and the bond matures on the same day in 1997
ongpin told reporters after a meeting with businessmen the government was planning to issue between 100 and 150 mln dlrs worth of pins at a discount of about 125 pct this year
many analysts recommend that investors buy and hold airline shares for at least a year
speaking at the same news conference de kock said the three year length of the agreement was of enormous significance to south africa
the marketing year for wheat begins june 1 corn september 1 and soybean meal october 1
shr 13 cts vs 17 cts net 553000 vs 728000 revs 69 mln vs 75 mln nine months shr 17 cts vs 18 cts net 732000 vs 776000 revs 185 mln vs 182 mln noteshare earnings reflect 5 for 4 stock split effective july 31
tom harkin d iowa sponsor of the bill told he did not intend to offer his measure as a floor amendment but to bring it through the committee
cpc international inc said it has completed the sale of its south african subsidiary robertsons pty ltd to a consortium of european and south african investors for an undisclosed amount in excess of book value due to the increasing difficulty of operating there
in the robusta sector nearby material was rather scarce with turnover limited the sources said
watts industries inc wattao 1st qtr sept 27
the securities and exchange commission charged allied stores corp with failing to promptly disclose key steps it was taking last september to thwart a takeover attempt by campeau corp
other countries including australia have benefitted from the higher world prices that have resulted from past us acreage and crop reduction programs the organizations said
the new agreement calls for synergen to set up a commercial manufacturing process to produce the drug and deliver quantities to ciba geigy in the second half 1987
sapporo breweries ltd of japan is issuing 100 mln swiss francs of five year notes with a 4 5 8 pct coupon and 100 1 4 issue price lead manager swiss bank corp said
sales of 8 mm video camera recorders totalled 300000 units in the three months unchanged from a year earlier while beta format video tape recorders vtrs sales fell to 300000 from 350000
the proposed transaction is subject to completion of a due diligence investigation including a review by bristol myers of a patent infringement suit served on sci med by advanced cardiovascular systems inc on march 31 1987
the companies said they expect the merger will occur after the declaration of effectiveness of an amendment to magellans registration statement relating to its common stock purchase warrants and the underlying shares
malaysian rubber production should return to normal levels this month after a hard wintering season the malaysian rubber exchange and licensing board said in its latest review
newmont mining corps board has proposed a two for one stock split subject to shareholder approval of an increase to 120 mln from 60 mln in authorized common shares the proxy for the companys annual meeting said
the ministers also gave west germany a go ahead to move towards a ban on the sale of leaded regular petrol after bonn requested permission to do so to encourage the use of low pollution cars diplomats said
the bonds have an average life of 115 years and are rated a 1 by moodys and a by s p
gpu said the dividend is of modest size representing less than a third of the amount paid as a dividend by the average electric utility
salick health care inc shcio 2nd qtr net
stone said april 10 is the redemption date for the convertible debentures and april 27 is the redemption date for the series c preferred
ultimately the brazilians are going to have to pay up on all the interest they owe cohn said
it had no meeting scheduled with the other three striking locals which rejected a tentative three year contract saturday cominco spokesman richard fish said
richard fischer of merrill lynch and co inc said that santa fe at december 31 had 580 mln dlrs in cash and cash equivalents while its long term debt to capital was just over 25 pct
but you cant play down number two he said
the company provided 20 mln dlrs against operating profit for the year to cover mark downs on stock
feds johnson says he does not see increasing pressure on interest rates
shr 23 cts vs 28 cts net 43 mln vs 51 mln revs 645 mln vs 671 mln note1986 reflects two for one stock split effective july 31
this is amore realistic approach because the metals market is a 24 hours market and prices can move without limit oneill said
todd also said the collective bargaining division in effect at its galveston division expires april 17 and negotiations with the galveston metal trades council are continuing
resorts intl rta receives takeover offer
an additional 246000 tonnes of durum wheat are still available to algeria under the export enhancement program
quebecor inc pqba the canadian publishing concern is issuing a 60 mln dlr convertible bond due may 14 1997 bearing an indicated coupon of 5 3 4 to six pct said merrill lynch capital markets as lead manager
enough european community ec states appear to be opposed to the proposals by the ec commission for a 330 european currency unit ecu a tonne tax on vegetable oils fats and marine oils to block adoption by ec ministers british farm minister michael jopling said
our failure to maintain the momentum will be at great cost to us all moore said
the american petroleum institute said that us crude oil production in february declined 98 pct from year ago levels to about 83 mln barrels a day
the air force navy and army are in a state of alert general guven ergenc secretary general of the turkish general staff told a news conference
for the year 1986 the provisions for mergers and restructuring expenses brought non recurring expenses to 40292000 before tax gains of which 8863000 represented merger costs and 31429000 related to restructuring of the combine operations
ic industries icx to redeem securities
thermwood corp thm 2nd qtr jan 31 net
rio de janeiro dockers strike
weve got none of it now
under albertas trial system imperial wants to match a reasonable supply of crude against the companys forecast demand for its refineries strong said
as a result bankers agreed to give argentina the same interest rate margin as mexico 13 16 pct on the rescheduling of 30 billion dlrs of debt even though they knew this would raise the ire of the philippines and venezuela which paid 7 8 pct on recent rescheduling packages
all that some countries would like to have would be a wheat agreement where we would stop export subsidies on wheat
share adjusted for one for two reverse split in november 1985
icco puts 1986 87 world cocoa surplus 94000 tonnes vs 118000 in 1985 86 delegates
a japanese businessman announced plans for a new telecommunications firm in which britains cable and wireless plc would be a core company
the central bank spokesman said he did not know why seixas wanted to leave his job
the index for consumer foods fell 05 pct after a 18 pct drop in january as vegetables pork and coffee cost less
dansk naturgas a s is issuing a 10 billion yen eurobond due may 13 1993 paying 4 5 8 pct and priced at 101 5 8 pct lead manager ibj international ltd said
olivetti spa
they said soviet cargo ships bound for kuwait in the past to unload arms and materiel for road delivery to iraq were known to have sailed under escort
api says distillate stocks up 628000 bbls gasoline up 229 mln crude up 852 mln
proceeds will be used to repay short and long term indebtedness
plans by the us based icn pharmaceuticals inc icnn to issue a mark eurobond soon are in doubt owing to uncertainties about future expansion arab banking corp daus and co gmbh abc daus said
el paso electric co said it plans to redeem its 40 mln dlrs of 1635 pct first mortgage bonds of 1991 and 60 mln dlrs of 1620 pct first mortgage bonds of 2012
the debt is rated baa 2 by moodys and bbb plus by s p
in the 1986 first quarter the commerical finance company earned 606000 dlrs or eight cts per share
bethlehem steel bs sets steel price increases
calny inc clny sets quarterly
one banker at nikko securities co ltds the nikko securities co deutschland gmbh said the cost of mark issues may be too high for some japanese firms
brazil and the us the largest consumer are both refusing to alter their positions
pennsylvania power said the 7 3 8 pct series preferred stock will have a mandatory sinking fund of 25000 shares in each year commencing april 1 1993 calculated to retire the issue no later than april 1 2012
brown absb sets split to offer shares
negotiations began in december and unions are hopeful they may conclude by early april ahead of the traditional holiday period in june
details of the program and an invitation for offers from exporters will be issued in the near future it said
the payment date is april 30 and there is a short first coupon
it says that while many government officials and advisers are recommending further relaxation there are equally strong pressures being exerted to halt all such moves this group strongly favours an import substitution economy the report says
pharmacia treasurer bertil tiusanen said gaining direct access to the short term international capital market would improve its ability to meet its dollar borrowing requirement
it carries a 1 1 8 pct margin over libor with a seven year maturity and four years grace
it is the first us municipality to arrange these types of facilities in the international capital markets
the country has swallowed a time bomb and it will go off when times get tough zimmerman said
west virginias management will continue to be responsible for operating the utility it said
net excludes tax credits of 62000 dlrs vs 41000 dlrs in quarter and 127000 dlrs vs 88000 dlrs in year
producers were offering us jam tomorrow but after their failure to discuss them last year promises were insufficient and we wanted a cast iron commitment now one consumer said
he said the decision to seek a reorganization was based in part on the fact that the bank had come under fire from the poorest countries for not doing enough to help and from the richest countries because of inefficiency
call money will fall back to 40 pct or so but the bundesbank would not approve of the sharp jump in rates given the delicate state of currency markets
washington is insisting that the ec comply with what it regards as an unambiguous ruling from the world trade body gatt and cut export subsidies which have allowed italy to take an increasing share of the us pasta market
the two state owned groups account for 30 pct of rubber land with the balance belonging to small private producers with a total of 145600 hectares
thomas melzer st louis federal reserve bank president favored some tightening of reserve conditions
imtec inc said some shareholders of computer identics inc cidn have proposed a merger of the two companies
claims on foreigners reported by us banks in the fourth quarter rose 299 billion dlrs after a 193 billion dlr third quarter increase
video jukeo to buy presidents shares
in a letter to shareholders in its 1986 annual report the regional bell company did not indicate the degree of earnings dilution it expects from the acquisitions which total some 138 billion dlrs
central pennsylvania cpsa buys stake in firm
the loan is part of a 265 mln dlr project to improve production of commodities mainly rice and raise farmer incomes
us treasurys baker says bank loans too slow
our plans were to finalize the merger at midnight tonight delta spokesman bill berry told the atlanta constitution late last night
a new cocoa agreement came into force in january but delegates could not agree buffer stock rules at that time
uap makes acquisitions
traders said there was no apparent effect of the texaco filing on crude futures trading although they said the exchange might lower texacos position limit and require higher margins for texacos trades
net income also reflects non recurring charges of 8400000 dlrs recorded in the fourth qtr 1986 primarily reflecting revaluation of assets
the fed said that business loans including acceptances fell 971 mln dlrs to 28022 billion dlrs
onyx petroleum exploration co ltd earlier reporting a 1986 net loss against year ago profit said it converted 7344000 dlrs of its 11 pct convertible debentures into 2824611 common shares
analysts see slow move to higher us prime rate
the louvre accords agreed in paris last february called for stability among the major currencies after a prolonged dollar slide
however analysts said dome will resist any moves to divest encor in favor of retaining the operating assets since sale proceeds would likely go directly to pay down domes debt to commerce bank
david ob
gencorp should not accept any other proposal containing defensive features it said
proceeds of the loan will be used for the cash portion of the restructuring
the program was designed to get belgium out of what the government said was a snowball effect under which the government constantly borrowed more to finance budget deficits which were due largely to the cost of servicing and repaying existing debt
atlantic richfield arc unit buys technology
representatives of atlantic richfield british petroleum conoco and amoco were not immediately available for comment
in open access gas pipelines serve purely as a transport company moving gas from suppliers to customers
karnosky said that the bond market will possibly break out of the doldrums if participants perceive that the dollar has stabilized and the federal reserve has more room to conduct monetary policy
to be eligible for the credit guarantees all sales must be registered before export but not later than september 30
kodak said the drugs covered by the marketing rights are in initial stages of the us food and drug administration approval process
the current economic downturn has been worsened by the sharp decline in the world price of coffee ugandas major export the fund said
opecs agreement to limit output to 166 mln barrels per day bpd for the rest of the year should boost spot prices and enable the group to raise its official reference price to 20 dlrs a barrel in january from the current 18 dlrs far east oil industry sources said
the us agriculture department detailed world supply demand data for major importers and exporters of soybean meal by country as follows in mln tonnes argentina soybean meal 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 013 013 019 019 production 367 367 349 349 imports nil nil nil nil domes use 035 035 035 035 exports 330 330 320 320 end stocks 015 015 013 013 brazil soybean meal in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 061 060 072 072 production 1040 1039 969 966 imports nil nil nil nil domes use 255 255 241 240 exports 785 785 738 738 end stocks 061 059 061 060 ec 12 soybean meal in mln tonnes 1986 87 1985 86 04 09 87 03 09 86 04 09 87 03 09 87 start stcks 040 040 044 044 production 1044 1045 1018 1017 imports 1303 1303 1348 1348 domes use 1850 1849 1859 1857 exports 507 509 510 511 end stocks 030 030 040 040
the port of philadelphia was closed when a cypriot oil tanker seapride ii ran aground after hitting a 200 foot tower supporting power lines across the river a coast guard spokesman said
comerica inc cmcao 1st qtr net
slough estates plc sloul said it views the prospects during 1987 with confidence
cuba has told international sugar operators who have bought its sugar for shipment in march that these contracts will take second place to cubas direct shipments to its export markets dealers here said
aside from the basic payment of 825 pct of nominal value certificate holders would receive an additional 15 pct
brannam a discount apparel chain
the notes have an 8 1 8 pct and were priced at 9963 to yield 93 basis points more than comparable treasury securities
analysts said the central banks moves to stifle sudden upward movement leave the market uncertain about its next step
bank of japan steps up dollar buying
ongpin said every 1 16 point over libor meant an additional 51 mln dlrs in annual interest payments
detroit edison dte half completes power test
philippine secretary of trade and industry jose concepcion who two days ago expressed doubts about agreements produced at international conferences said he was pleased with the latest gathering here
the company also said the write off includes expenses associated with the acquisition of us medical enterprises inc and with the restructuring of certain partnerships
advanced telecommunications redeems debentures
the stock closed at 2925 dlrs a share on friday
an investor group trying to acquire gencorp inc said it would move to unseat the board of directors and take other action if gencorp refuses to discuss a 23 billion dlr takeover bid
he said if imports of gifts foreign aid items and materials for joint ventures are excluded the deficit was only 350 mln dlrs and the surplus on invisibles was 700 mln
woolworth holdings plc wlukl yr to end january
selas sls loses ruling in contract dispute
canada japan trading firm agree to boost ties
the china daily quoted he as saying china should adopt intensive farming to increase per hectare output and improve crop quality and maintain arable land at 111 mln hectares
new container cranes arrive at tanzania port
benetton spa of italy expects to further diversify into financial services and is weighing possible acquisitions a benetton spokeswoman here said
no formal offers had been made but catto would not elaborate
the bank said non bank private sector holdings of public sector debt fell by about 400 mln stg in february while external flows to the public sector were about 100 mln stg
india trade deficit falls
stoltenberg had said in paris that part of this reform which will cut taxes by a gross 44 billion marks would be introduced next year ahead of schedule
swedens boliden to open saudi arabian gold mine
lane can constitute non compliance with its series a convertible subordinated debentures due 1996 and a default under its agreement with the merchants bank of kansas city
he also said fujitsu executives remain enthusiastic about a link with fairchild
one trade source said india has targetted countries that depend on an indian domestic market recently opened to foreign imports
he said the 10 billion dlrs increase in total reserves in the past seven months may foreshadow full uk entry into the european monetary system
the us treasury proposed allowing temporary imports of south african uranium ore and uranium oxide until july 1 under certain conditions pending clarification of anti apartheid laws passed by congress last fall
india relaxes rules for export promotion
shr 63 cts vs 89 cts net 3425216 vs 3370682 avg shrs 5421330 vs 3803425 note net for both qtrs reflects gains on sales of securities of 1755137 or 51 pct of net in 1987 and 3001222 or 89 pct of net in 1986
the talks follow an agreement reached between nigeria and the paris club of western creditor governments in december to reschedule some 75 billion dlrs of medium and long term debt due between september 1986 and end 1987 over 10 years with five years grace
bass plc bassl and horizon travel plc said terms have been agreed for an offer worth around 948 mln stg for horizon by bass
in its report on export markets for us grains the department said south africas corn exports in the 1986 87 oct sept season are estimated at 25 mln tonnes up 40 pct from the previous year
thus you can have lower rates and also a normalisation of monetary growth both at the same time he added
the company believes that the negotiation and implementation of the proposed debt restructuring plan is realistic and achievable dome said
first marathon securities ltd analyst rick hallisey said the size of the loss was slightly larger than industry estimates of domes negative net worth ranging between 150 billion and two billion dlrs
he gave no trade forecast for 1987
commenting on the current row between the ec commission and sugar producers man said despite the recent improvement in the level of restitutions they are still insufficient to fully compensate producers when exporting on the world market
harcourt said it does not plan to increase its bid
the benchmark canada 9 1 2 pct of 2001 ended at 106 1 4 3 8 and the 8 1 2 pct of 2011 at 97 1 4 1 2
the doe said it then had 120 days to select a proposal that it would recommend to congress which then would vote the recommendation up or down
the bonds will be sold by a syndicate led by salomon brothers inc
i talk with him monthly in his speech roderick predicted the fall in the value of the dollar would set the stage for the us to solve its trade deficit problem which totaled 170 billion dlrs in 1986
he said as long as the company maintains copyrights with the estates of deceased authors it controls all motion picture and television rights to the stories
group trims material sciences msc stake
the biggest problems are concentrated in the centre west growing regions where rising production has outpaced storage capacity
4th qtr shr 15 cts vs eight cts net 1800000 vs one mln year shr 51 cts vs 110 dlrs net 6200000 vs 132 mln note net includes loan loss provisions of 14 cts shr vs 18 cts in quarter and 24 cts shr vs 36 cts in year
hall said this is a new definition for injury but that other nations might also now apply this same argument to attack us farm programs
jerry ballan analyst with conner ballan division of edward viner and co said they dart has been rumored to be buying some other supermarkets as well such as stop and shop my guess is that supermarkets general does not want to be bought out said ballan
it said it is raising its marine diesel oil posting by 30 cts a barrel to 2024 dlrs a barrel
columbia gas said the filing would increase the pipeline commodity rates by 1574 cts per mln btu to 295 dlrs per mln
an officer on ubss corporate syndicate desk said the gte issue is the fourth that the securities firm has managed
to make this possible the proposal calls for new legislation which would administer all related futures and options transactions under the same legal framework
it is vital to the industry that we get this problem behind us
the international market is so big and we have such a miniscule share of it that growth opportunities are really limited only by our energy and our desire to find more business he said adding that in trust type services we dont think the international markets are well served aiding royal trusts foreign growth are greater foreign investment interest in north america and increased canadian investment abroad cornelissen said
weekly temperatures were below normal it said
us shoe corp usr 4th qtr jan 31 net
venezuela to lend ecuador 50000 bpd of crude
in a clear reference recent events he said those in the city who act for companies or individuals must i suggest be ready to accept a full measure of responsibility even if it entails opprobrium for the transactions that may result they should exercise the most careful judgment at the outset with respect to the clients for whom they act and the activities contenplated
in a filing with the securities and exchange commission caesars world said its board decided at a special meeting yesterday to explore and investigate several alternatives in an effort to thwart sosnoffs takeover attempt
he said one option under discussion for refining the gold ore would be to ship it to bolidens ronnskar copper smelter in northern sweden
keppel corp ltd kplmsi said it has decided to increase its convertible bond issue to 75 mln us dlrs from 60 mln following overwhelming response since its launch on march 24
standard oil co srd said in a brief announcement issued after a meeting of its board of directors that british petroleum co plc bpl bp has extended its 70 dlr per share tender offer until midnight may 4
ah robins co said its board has concluded that the merger proposal submitted by rorer group inc ror merits further consideration
total gold and foreign assets rose to 630 billion rand from 622 billion of which the gold content increased to 6622 pct from 643 pct
this is why we increased the strategic petroleum reserve but we have to do more he said
it did not however place any restrictions on the administration as it proceeds to reflag the kuwaiti ships and thus has no immediate effect on us policy
the non callable bond is guaranteed by the state of south australia and will be listed in luxembourg
the present agreement had a figure of 80 pct
grain traders said they were still awaiting results of yesterdays uk intervention feed wheat tender for the home market
the other main bidders were union carbide corps uk
exxon said that morgan guaranty trust co the fiscal and paying agent for the issue euro clear and cedel the two major european securities clearing systems and police in london and brussels are investigating the case
sale date and announcement of rates is set for tuesday march 17 1987
it gave no figures for the output drop
everybodys stuck in the spot next one trader said
gencorp said the partnerships offer is a bargain price acquisition that was using financing from a syndicate of banks that does not yet exist and a bridge loan from shearson lehman brothers that shearson is not obligated to provide reynolds also said the offer would result in a radical alteration and selloff of gencorps assets including aerojet general to refinance general acquisitions borrowings with the profits going to wagner and brown and afg instead of shareholders
the maximum export rebate granted at yesterdays ec sugar tender marked no change in policy over producer complaints that they are not obtaining the ec intervention price in exporting sugar outside the community ec commission sources said
the buffer stock working group then asked icco executive director kobena erbynn who wrote up the draft compromise to flesh out details of the principles with the assistance of a representative group of delegates they said
ec driving to capture brazil wheat market usda
viacom said earlier today it received revised takeover bids from redstone and mcv holdings inc a group led by viacom management which is competing with redstone for control of the company and already has a formal merger agreement with viacom
ec sources said the office was likely to open in the second half of this year
ibc closes export registrations exporters
the year on year rise was put at 37 pct down from 42 pct in february
development of costly shale oil liquified coal and other kinds of synthetic fuels halted in recent years because of cheap and abundant petroleum supplies will become economic again when world oil prices top 30 dlrs a barrel an exxon co usa executive said
it said its subsidiaries which account for 96 pct of its 326 billion dlrs in revenues and 79 pct of its net property plant and equipment were free of the action
while no one is going to cede national sovereignty we certainly seem to be moving towards much closer co operation another us official said
qtrly div five cts vs five cts pay apirl 10 record march 30
he said he still has received only a negligible number of shares in response to his tender
hospital corp says it received 47 dlr a share offer from investor group
the committee however will only include revenue numbers in its proposed budget with the actual revenue decisions left to the house and senate tax writing committees
contrary to the filing mr
a large group of other milds coffee growing nations will hold talks in guatemala next month to map their strategy for next septembers meeting of the international coffee organisation ico mario fernandez executive director of the costa rican coffee institute said delegates from mexico the dominican republic peru ecuador india papua new guinea and five central american nations will participate in the two day strategy session beginning may 4
shr 83 cts vs 94 cts net 412 mln vs 455 mln revs 4284 mln vs 4296 avg shrs 498 mln vs 481 mln 12 months shr 359 dlrs vs 353 dlrs net 1769 mln vs 1644 mln revs 187 billion vs 170 billion avg shrs 493 mln vs 466 note 1986 first quarter profits restated down one cent a share as a result of previously reported pooling of interests merger with mid continent life insurance co
us tells japan to do more to cut trade surplus
the terms envision a purchase of the entire company it said
nor do we see any need to plow resources into a technology we may not have if we can link up profitably with someone who is already there he said carbide has extended its catalyst business that way and is now extending its specialty chemicals business in the same way
in some cases they lease the land to grain farmers
also the company faces a higher tax rate
the department said it decided to make final its tentative decision after reviewing the public response to it
the rise in the nominal figures masks a lower export trend that is not expected to change for several months at least said an economist
the paper quoted us intelligence sources as saying the missiles appeared to be of a chinese design known as hy 2 which is based on the soviet ssn2 or styx missile
outboard marine has been the subject of recurring takeover rumors with one rumor this week naming sun chemical as the potential suitor for 40 dlrs a share
ended feb 28 shr loss 280 dlrs vs profit 17 cts net loss 905 mln vs profit 5271000 revs 2409 mln vs 1594 mln year shr loss 249 dlrs vs loss 207 dlrs net loss 804 mln vs loss 665 mln revs 7879 mln vs 6124 mln note includes loss of 896 mln dlrs vs loss 145 mln dlrs in year and loss of 916 mln dlrs in current qtr from discontinued operations
denominations are 50000 francs
alabama investor ups penobscot shoe pso stake
the us agriculture department gave the net change in export commitments including sales cancellations foreign purchases and cumulative exports in the current seasons through the week ended april 2 with comparisons as follows in tonnes except as noted 4 2 87 prev week all wheat 119800 368300 corn 1001900 927000 soybeans 240500 300900 soy cake meal 117700 170200 soybean oil 2400 x 8100 cotton y 60200 31900 x minus total
drought cuts chinese wheat crop usda report
the issue has been designated the b tranche of the bonds since 13 billion stg of 8 3 4 pct treasury loan stock due 1997 is already in issue
south koreas trade surplus with the us rose to 73 billion dlrs in 1986 from 43 billion in 1985
it also wants outside partners to take up to 50 pct in the project the company said
shr profit three cts vs loss nine cts net profit 103664 vs loss 326675 revs 76 mln vs 69 mln six months shr loss two cts vs loss 15 cts net loss 78246 vs loss 522868 revs 147 mln vs 129 mln note1986 net includes gain of 43185 or one cts in 2nd qtr and six months for discount on early long term debt repayment
greenspan does not have the sensitivity to these issues and the sense of understanding of their complexity that volcker has
it said government and private exporters shipped 27510 and 57450 tonnes respectively
boeing co to acquire argosystems for 37 dlrs a share
a survey found opec production in early march was 147 mln bpd
the bank committee headed by citibank had been pressing brazil to make at least a token payment of interest but gros said this was not possible right now
the company said the 1986 net earnings were up 30 pct from 322 dlrs in 1985
it rose a revised 05 pct in february and was up 147 pct from a year earlier
japanese crushers buy canadian rapeseed
japans plan to cut beef intervention prices for the fiscal year starting april 1 will not boost demand because of strict supply controls and a complex distribution system japanese and us industry sources said
in 1986 company earnings were based an average market price for gold of 368 dlrs an ounce
price co said it agreed to buy at least 81 pct of the stock of tss seedmans inc for about 50 mln dlrs
us bancorp oregon said it has been advised orally that its application for the acquisition of old national bancorp has been approved by the board of governors of the federal reserve
sept 30 end primary 76 cts vs 51 cts diluted shr 70 cts vs 49 cts net 2802000 vs 2030000 revs 1249 mln vs 1172 mln primary avg shrs 3687000 vs 4016000 diluted avg shrs 4786000 vs 5101000
following the purchase gerber made a capital contribution to gst of all the shares it owned resulting in 956 pct ownership by gst
sorghum production is expected to total between 32 mln and 35 mln tonnes or 167 to 22 pct less than the 41 to 42 million tonnes harvested in 1985 86
currency markets were keen for official statements to clarify the scope of the paris accord and reactivate currency trading
if he didnt say no then theres a chance
year to september 30 1986 domestic group net profit 699 mln marks vs 614 mln
the debt is rated aa 3 by moodys and a plus by s p
andrew shoup chairman of dallas based sabine predicted that world oil prices would increase from a range of 15 to 20 dlrs a barrel in 1987 to a range of 17 to 22 dlrs a barrel in 1988
it is the first us municipality to arrange these types of facilities in the international capital markets
we want to make clear that the guilder is just as strong as the mark he said
he said discussions were still continuing on debt capitalization plans and schemes for on lending in the light of certain argentine concerns
scs compute inc scom 3rd qtr jan 31 loss
clark said his forecast allowed for only a modest further increase in investment buying and may well be cautious
the agreement is subject to approval by the new jersey casino control commission
net includes loan loss provisions of 500000 dlrs vs 105000 dlrs in quarter and 1100000 dlrs vs 105000 dlrs in nine mths
cascade importers inc usa s cascade international europa gmbh of west germany said it tentatively acquired worldwide rights for the products of madam gre from the bernard tapie group in paris
there is no need to react to every small fluctuation in commodity prices or to do so on a daily basis heller said in a prepared text
wedge said it has had discussions with ami management pesch the closely held health care and investment concern controlled by chicago physician leroy pesch and other ami shareholders
rumors of a damaging storm in west texas helped the new york cotton futures market rally sharply this morning
each noted in separate speeches that they saw no trade war over the issue despite concerns in financial markets
bulk movement was 2328368 against 2139383 a year earlier
the price of coffee kenyas main source of foreign exchange fell in london today to about 94 cents a pound from a peak of 214 dlrs in january 1986
noranda said when it resumes production it plans to operate the mine at about one third of the normal 72000 tonnes annual finished capacity
use 32141 32187 31758 31746 exports 1211 1222 1249 1239 end stocks 2119 2178 2471 2475
shr 42 cts vs 76 cts net 23 mln vs 33 mln revs 723 mln vs 598 mln year shr 148 dlrs vs 259 dlrs net 76 mln vs 111 mln revs 2617 mln vs 2247 mln note 1985 net includes extraordinary gain of 15 mln dlrs or 35 cts per share in 4th qtr and 51 mln or 119 dlrs for the year
excluding exchange rate movements world group turnover rose 89 pct and incoming orders increased 10 pct
heller said using a broad based commodity price index as an indicator for monetary policy would also contribute to stabilized currency exchange rates
first toronto completes issue
deutsche bank chief says louvre pact still intact
honeywell inc said a gain of 201 pct in its 1987 first quarter operating earnings was the result of cost cutting efforts which began last year
weve seen no real movement from bonds to stocks among our funds said george collins president of t
commerce chief spokesman bj cooper said the department had had no contact with schlumberger about the deal
the division is expected to improve results for anacomp this year
an aide to agriculture secretary richard lyng who asked not to be identified said there was nothing to substantiate the speculation which he said was started by somebody fanning the wheat market wheat futures strengthened today partly on the basis of the speculation
period ended january 30
its move followed a signal from the bank of england earlier this afternoon that it would endorse a half point cut in the base rate a surprise move following its strong signals last week that such a move would be premature
it has nearly 68 mln shares outstanding
1986 qtr and nine mths includes gain 2281000 dlrs or 22 cts per share and 6393000 dlrs or 60 cts per share respectively from utilization of net operating loss carryforwards
qintex again extends princeville pvdc offer
prior year figures restated for discontinued operations
the non callable issue is available in denominations of 10000 and 1000 stg and will be listed in luxembourg
us january business inventories rose 09 pct
shr six cts vs three cts net 152360 vs 94141 revs 4073911 vs 4116333 note international research and development corp is full name of company
santos has a 60 pct stake in the block delhi petroleum pty ltd has 30 pct and south australian oil and gas corp pty ltd has 10 pct
kraft said research and development expenditures rose 12 pct in 1986 to 667 mln dlrs and a greater increase in seen in 1987
twa also agreed that it would not knowingly and willingly interfere with the consummation of the merger between usair and piedmont aviation inc pie twa said the court agreement confirms previous announcements by the company in filings with the securities and exchange commission that it does not presently intend to seek control of usair or to acquire additional common stock
he declined to name the other companies involved in the talks
inspiration said the project has proven reserves of 538000 tons assayed at 0212 ounce of gold per ton probable reserves of 686000 tons at 0166 ounce and possible reserves of 355000 tons at 0183 ounce
coca cola bottling coke files to offer notes
failure of ec farm price talks disrupts tenders
healthvest hvt sells shares
genossenschaftliche zentralbank ag gzb said that it had increased its three part bond issue to 18 billion schillings from the 15 billion orginally planned
akers was relatively more upbeat in assessing the companys outlook than he has been for nearly a year
analysts said the fact british petroleum made such a bid in the first place indicates that the british oil giant has changed its outlook for the oil industry
lynch said the proposal was changed because it believes becors management needs more guidance in terms of financial structuring
venezuela is seeking a constructive and flexible attitude from its creditor banks in current talks to reschedule 21 billion dlrs in foreign debt finance minister manuel azpurua told a press conference
haiti announces find of ore rich gold field
rodriguez said the latin and caribbean nations backed the reagan administrations opposition to many of the sections in the legislation including those to curb imports and to require retaliation for foreign unfair trade practices
the department said an additional 42000 tonnes of us barley are still available to cyprus under the export enhancement program initiative announced on august 26 1986
finance for danish industry is issuing a 300 mln danish crown eurobond due april 23 1992 paying 11 3 8 pct and priced at 100 1 4 pct lead manager privatbanken ltd said
it also will start nonstop service from san antonio to las vegas and increase service to orlando fla it said
new plan realty trust npr to redeem notes
copa urges tax on vegetable proteins
the shares were purchased from nasta international inc nas on october 16 for about 115 mln dlrs bastia said
shr loss 32 cts vs loss 37 cts net loss 5374000 vs loss 6159000 revs 2413 mln vs 2532 mln
adler said however that the quarter would still be a loss primarily because it is the low season for the imaging business
opec is scheduled to meet in vienna on june 25 where it will review its current oil price and production policy
the quake struck northern ecaudor and southern colombia according to ecuadorean officials
it gave no further details
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
vulcan said it is dropping the proposal because it believes subsequent actions by jones and vining are hostile and vulcan is only interested in a friendly transaction
a british government delegation has just left riyadh after holding preliminary talks on ways of offsetting the huge saudi outlay on a defence contract to supply 132 fighter aircraft worth five billion stg
the company said the opinion is the result of ongoing litigation over its discontinued operations
soviet flag tankers transporting kuwaiti oil through the gulf may get soviet escorts the officials said
japans move came after several unsuccessful bilateral negotiations on the plan the spokesman said
the suit also sought to have directors carry out their fiduciary duty
while one arbitrager acknowledged there in fact may be no new bidders he said the possibility one could appear pushed the stock into play again
the outlook for investment in plant and machinery remained bright into 1987 and with capacity use at near record levels last year there was scope for rationalisation and modernisation in both the industry and service sectors it said
priced at 101 5 8 pct the issue was quoted at less 1 1 4 pct bid on the grey market compared with the total fees of 1 5 8 pct
a fiber optic line the diameter of a dime can carry the same amount of information as a copper cable 20 feet in diameter
appalachian power co a unit of american electric power co said it will redeem on may one an additional 138 mln dlrs of its 12 7 8 pct first mortgage bonds due 2013
the introduction of the new session will enable participants to trade overnight after taking account of singapore rubber prices because brokers and members who are designated by the kobe exchange are allowed to add the volume traded overnight to the new final session before the opening session starts next day the official said
high point financial corp sets offering
earlier charter reported net income for the year of 1532 mln dlrs which included a gain of 285 mln dlrs for discontinued operations and 1148 mln dlrs for the settlement of claims in its reorganization proceedings
shr loss 34 cts net loss 171 mln vs profit 101 mln revs 1062 mln vs 1012 mln six mths shr loss 28 cts net loss 144 mln vs profit 116 mln revs 2372 mln vs 1795 mln note company said year ago per share not given as not comparable due to certain allocations of expenses from the turner entertainment group not made in subsequent periods
we will continue to look at multi tiered financings mangan said
the labour leader who now heads the inter union national workers command cnt was among 500 workers sacked by codelco following a strike in 1983
iran the united arab emirates and kuwait are also cheating on the opec agreement with over production and effective price discounts through counter purchases industry sources said
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
moulinex stake sold to some 50 institutions
in its annual report the company also said it expects to maintain its current annual two dlr dividend on the basis of continued upward earnings
pillsbury said loss of investment tax credits under the 1986 federal tax reform act reduced per share earnings by nine cts in the quarter and 19 cts in the nine months
glaverbels net consolidated profit rose to 542 mln francs last year from 137 mln in 1985 and the group is to pay a 29 franc gross dividend its first for over 10 years
iran says us raid caused 500 mln dlrs damage
we are being accused of not implementing this agreement
results restated for pooled acquisitions and share adjusted for stock dividends
nissan motor co ltd of japan said it expects that it was profitable in the second half ended yesterday after a first half operating loss of 17 billion yen
the final due date will be april 28 2002 and the issue will be both puttable and callable on april 28 1992 and 1997 at par
the bank of spain suspended its daily money market assistance obliging borrowers to take funds from the second window where on wednesday rates were raised to 16 pct compared with 14 pct for normal overnight funds
the agreement on the moratorium with some 330 creditor banks expires on june 30
salary indexation was ended by the previous socialist government and i dont think this administration is going to reverse that commented michel develle economist at recently privatised banque paribas
meatpackers reject occidental oxy unit offer
lawson said the two recent cuts in base rates both made this month in the form of half percentage point declines were perfectly consistent with monetary conditions now in britain
the survey is expected to be completed by april 15
some people argue that cutting the spread is debt forgiveness what it really is is narrowing the spread on new money he added
officials of harcourt declined to comment citing a suit brought by british publisher robert maxwell whose has been trying to acquire harcourt
managing board chairman wolfgang habbel told a news conference he expected both profit and turnover to rise this year compared with 1986 but he said it was questionable whether 1987 profit would return to 1985 levels
the reason was not disclosed
the central bank sources said negotiations would start in april on another 150 mln dlr loan from the world bank to implement reforms in the government corporate sector
the purchase believed priced around 210 dlrs a tonne cost and freight for fine medium grain was due to be shipped for arrival in may 30000 tonnes in june 45000 and in july 25000 tonnes they said
sept 30 end shr 27 cts net 313000 vs 323000 six months shr 53 cts net 607000 vs 636000 assets 1078 mln vs 771 mln note company became public dec 31 1986
it was 17733 38 marks against 17975 85 in new york and 18008 13 here on friday after an opening 17700 10
dutch prices and trade volume reached their highest level this year
dudley taft and his family have owned 12 pct of the company
the australian dollar market continued active with canadian imperial bank of commerce offering a bond of 125 mln five year with a zero coupon priced at 54
vms mortgage investors lp vmlpz montly div
net earnings from iron ore operations were 1118 mln dlrs against 1492 mln in 1985 it said
several banks citing brazils suspension of interest payments on 68 billion dlrs of its 108 billion dlr foreign debt and the absence of a coherent economic plan have already said they might take such a step even though it would cost them tens of millions of dollars in profits
carolin said the results sharply disagreed with an earlier assay performed by intergold usa inc which showed 10 ounce of gold per ton and 050 ounce of platinum per ton
earlier figures were not available
the repayment of the funds for the year to end march was in line with details given in the prospectus last year
names may include sanyo electric co ltd and nishimatsu construction co ltd which both count yamaichi securities co ltd as their house bank or hokkaido electric power co inc which recently gave a presentation here with the industrial bank of japans unit here
the legislation supported by congress democratic and republican leadership as well as by the administration required defense secretary caspar weinberger to provide a report to congress within seven days of enactment on plans to protect us warships and flag ships in the persian gulf
may department stores co reporting record results for the fourth quarter ended january 31 said it is encouraged about the new fiscal year by a strong start in february and march
aquino acknowledged there were grave doubts about her governments ambitious privatisation program
all bauxite mining at moengo ceased four months ago and suralcos paranam alumina smelter is using imported bauxite
shr 19 cts vs 16 cts net 502000 vs 401000 revs 8791000 vs 6650000 six mths shr 38 cts vs 29 cts net 989000 vs 745000 revs 163 mln vs 125 mln
m 1 measures notes and coins in circulation plus sight deposits
glynwed international plc glynl said it had bought all the issued shares of two companies belonging to gallaher ltd a subsidiary of american brands inc amb in a deal worth around 14 mln stg
the company said transaction prices for contract accounts which have a duration of six months or more will also be increased to commensurate levels
stacy described amoco canadas previously reported share offer proposal as a chance to increase canadian ownership of the countrys oil and gas industry now at about 50 pct
the company said it launched a 700000 dlr exploration program at the mines to increase production and ensure the operations continued long life
control data corp said it agreed to acquire unisys incs uis 13 pct stake in magnetic peripherals inc the letter of intent provides that unisys converts from an owner in magnetic peripherals to a customer of control datas data storage products group over a two year period
we think they realise they have gone too far one official said
it again bought bills for resale to the market on april 2 at a rate of 10 15 16 pct
larry eckenfelder of prudential bache securities said he believes american express could have considered a partial spinoff in the past
the mint said two increments of 1300000 lbs each are for delivery the weeks of april 13 and april 20 to ball corp greeneville tenn and two increments of 1092000 lbs each are to be delivered the weeks of april 20 and april 27 to lasalle rolling mills lasalle ill
he said the contingency clause implemented by venezuela soon after the original rescheduling was signed in february 1986 stays in effect and that the new payment schedule is based on an assumption of oil prices varying between 15 and 18 dlrs a barrel
precipitation last fall was as little as 25 pct of normal in southern and northern ukraine and below normal over the entire winter crop area she said
turkeys economy grew much faster than expected in 1986 and domestic demand surged 105 pct but this growth was expected to be halved to five pct next year
the european community ec agreed tough new rules to cut diesel exhaust emissions from trucks and buses in an attempt to reduce air pollution threatening vast stretches of the regions forests
the philippines would conserve foreign exchange and enjoy investment inflows reducing marginally the need to seek new bank loans
shr loss 25 cts vs profit three cts net loss 713000 vs profit 69000 revs 24 mln vs 921000 six months shr loss 24 cts vs profit six cts net loss 572000 vs profit 120000 revs 57 mln vs 16 mln noteto effect change from fiscal to calendar year company reported results for six months period ended december 31 1985
when asked if there is a rising danger of a worldwide trade war baldrige said yes i dont think theres any question about that
last january japanese exports to the ec totalled half of of sales to the us against about a third in recent years
ste genevieve resources ltd said it increased its cash takeover bid for sullivan mines inc shares to 725 dlrs a share
the analysts estimated that the group would report a third quarter net in the region of 200 mln to 220 mln dlrs against 2386 mln a year earlier and 2203 mln in the second quarter
the bonds will be listed in london and will be issued in denominations of 1000 and 5000 stg
the economy may not get a lot better but we expect our advantages in the lumber industry and cost cutting measures to keep us competitive larry kunz chief financial officer said
local 222 of the united food and commercial workers union said it is calling a membership meeting possibly sunday to discuss its response to a decision by iowa beef processors inc to lift a lockout at its dakota city nebraska plant and resume operations
growth was 114 pct in 1986
ghanas premium to the terminal has risen to about 50 stg from 25 to 30 stg a month ago partly in anticipation of buffer stock buying dealers said
but analysts said it would be difficult to ascertain the origins of such purchases
compact video inc cvsio year loss
clabir clg ambrit abi call off merger
icebreaker assistance to reach ventspils harbour is needed for normal steel vessels without special reinforcement against ice the report said
marc cohen of republic national bank of new york said the market now has the impetus to drive the dollar lower again the dollar hovered between 14550 and 147 yen in the days just before the talks
i think there was a time that they british manufacturers thought the exchange rate was uncomfortably high
the allowance for loan losses was 2248 mln dlrs up from 1852 mln a year earlier
chinas grain exports in january totaled 386157 tonnes down 221 pct from january 1986 customs figures show
the issues have been in a partly paid form where the full price does not have to be paid until the start of the new fiscal year and therefore they are not counted in the current years fund raising
royal bank of canada in reporting a 19 pct drop in first quarter earnings said it expects to report improved results in future earnings periods
the bonds maturing 10 years from the date of issue would carry a 10 pct per annum interest rate payable annually in arrears bell group said
first bank minneaplois and first bank saint paul both units of first bank systems inc said they raised their reference rates to 7 3 4 pct from 7 1 2 pct
the dutch central bank said it has accepted bids totalling 48 billion guilders at tender for new seven day special advances at 53 pct covering the period march 2 to 9 aimed at relieving money market tightness
1986 results also include an after tax charge 293 mln dlrs equal to 146 dlrs a share in quarter and 144 dlrs in year for premium on early retirement of debt 1985 net in both periods includes pre tax loss of 24 mln dlrs equal to 13 cts a share on sale of holt renfrew results include lifo charge 17 mln dlrs vs credit 44 mln dlrs in quarter and credit 19 mln dlrs vs credit 64 mln dlrs in year
japans bilateral trade surplus jumped from 12 billion dlrs in 1980 to 62 billion dlrs last year
the bank said it expected to report positive earnings in future periods barring unforeseen circumstances
in addition new world pictures ltd nwp holder of 45 pct of harper and row had offered to discuss a merger with harper and row
the commercial paper programs of mellon bank canada and mellon australia ltd guaranteed by the parent company were lowered to a 1 from a 1 plus
few trains were running and some early morning flights by sabena belgians national airline were cancelled
southwestern bell sbc sees earnings dilution
some arbitragers however said takeover values have been placed on the company of 60 to 65 dlrs per share
statoil said using a floating production unit rather than a fixed platform would cut construction time enabling field partners to bring veslefrikk on stream in late 1989 several months earlier than previously planned
australia stock exchanges enter new era
the danger that exports will slump in 1987 appears all in all limited the report said
the plant which has a 660 ton per day capacity will be operated by du pont the company said
soybean oil 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 88 104 nil nil unnamed b 70 105 nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total 158 209 nil nil ay expd e 1384 1358 ind ttl f 1542 1567 usdaprj g 6100 6100 soybean cake and meal 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 7880 8697 507 484 unnamed b 760 940 nil nil eoa c 27 61 nil nil oop d nil nil nil nil gr total 8667 9698 507 484 ay expd e 40980 38806 ind ttl f 49647 48504 usdaprj g 57600 57600 cottonseed oil 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 74 72 nil nil unnamed b 03 03 nil nil eoa c nil nil nil nil oop d 78 78 nil nil gr total 154 152 nil nil all upland domestic raw cotton y 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 20079 20761 4682 4572 unnamed b 203 202 nil nil eoa c nil nil nil nil oop c nil nil nil nil gr total 20282 20963 4682 4572 ay expd e 43331 42047 ind ttl f 63613 63010 usdaprj g 63350 63350 y in thousand running bales
by contrast rudolph penner director of the congressional budget office said the budget process has broken down and the deficit will remain close to 200 billion dlrs for fiscal 1987
news of the week long visit starting april 29 coincided with news that japan recorded a 814 billion dlr trade surplus last month more than 70 pct higher than a year earlier
news international nwsll plc is issuing 100 mln dlrs of senior unsubordinated notes due april 10 1990 carrying a coupon of 7 1 2 pct and priced at par said credit suisse first boston as lead manager
but this was more than offset by a 15 pct negative foreign exchange effect which produced the reported one pct drop in turnover to 836 billion francsthe sandoz official said
chee said corenes pora affected trees from the rrim 725 clone planted in malaysia several years ago but had been curbed after use of such clones were discontinued
blackburn said that we are in talks about coal operations but i cannot discuss this further at this time he said the company would have a debt to capital ratio of about 38 pct which could be paid down over time
affandi agreed with a bank recommendation that farmers should be free to choose their own crops but he said the government would continue to maintain production targets for strategic commodities such as rice and sugar
traders noted that activity in the stock increased today after a published report linked pickens to tenneco
denominations are 1000 and 10000 australian dlrs
shr loss 36 cts vs loss 36 cts net loss 201 mln vs loss 126 mln revs 125 mln vs 249 mln avg shrs 558 mln vs 347 mln year shr loss 111 dlrs vs loss 105 dlrs net loss 508 ln vs loss 319 mln revs 637 mln vs 1069 mln avg shrs 458 mln vs 302 mln note net includes extraordinary gains of 2470000 dlrs vs nil in quarter and 809000 dlrs vs 425000 dlrs in year
watso inc wsoa sets regular payouts
general acquisition co a partnership of wagner and brown and afg industries inc afg reiterated in a statement sent to gencorp on friday that it was willing to negotiate its earlier offer of 100 dlrs a share for the tire broadcasting plastics and aerospace conglomerate
westdeutsche landesbank girozentrale welgf said its wholly owned luxembourg subsidiary westlb international sa posted a decline in 1986 net profit to 126 mln marks from 485 mln a year earlier
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined and listing will be in london
japan moves to tighten chip export curbs
capital expenditure of about 18 mln dlrs will be required over the life of the new plan rgc said
it revised its december 1986 forecast that exports would total 205000 tonnes citing low demand the loss of us market share in the two main importing countries britain and the netherlands and the sale of nuts intended for export at a premium in the us domestic market
us officials say that while japan has stopped dumping semiconductors on the american market they have continued to dump them in third countries and that the japanese market has remained all but closed to the us semiconductors
the oil exporting member nations of the idb faced a major adjustment problem arising from a sizable decline in oil prices and loss of export earnings affecting their position as potential suppliers of capital the report said
hoechst celanese sets expansion program
roussel uclaf rucfpa and most domestic non consolidated partners did not perform as well as in 1985
us could complain to gatt on canada corn duty
consolidated pipe lines co year net
in addition he said he expects no problems in having the deal cleared by the antitrust division of the us justice department
traders said rumors which began yesterday added to speculation that the company would be the target of a takeover
azpurua and other senior economic officals returned from a trip to tokyo last week in which they hoped to acquire new credits for industrial expansions but no agreements were reached
the company was appealing against a decision of the tax commissioners that any such provision was a capital expenditure not a revenue expenditure and was not deductible
the white paper on agriculture for the year ended march 31 said active participation in writing world farm trade rules at the next round of general agreement on tariffs and trade gatt talks will help prepare japan to improve access
seven tugs will attempt to refloat the south korean motor bulk carrier hyundai new world tonight lloyds shipping intelligence service said in its latest update
the us treasury said it will sell 132 billion dlrs of three and six month bills at its regular auction next week
us retail sales rise 41 pct in february
gatt also predicted world trade would grow by only 25 pct in 1987 a full percentage point lower than in each of the previous two years
the united states section 22 waiver is one of the basic flaws in the gatt coverage of agriculture arnott told the meeting
the previous state loan a 625 pct issue due 1998 2002 last month raised a mere 300 mln guilders
over the next three weeks a cut is out unless we get some extremely good economic indicators capels skeoch said
share of exports in sales rose to 87 pct from 80 pct
it said it planned to invite shareholders and non voting stockholders to subscribe to a warrant bond issue of around 150 mln swiss francs to be made after the june 2 annual meeting
he estimates block has about 150 mln dlrs cash on its balance sheet sheet and says if interest rates rise it could be of great benefit to them
thai sugar production continued at a high level in february latest figures received by the international sugar organization iso show
ruding told a meeting of the world trade forum here that protectionism would naturally lead to retaliation and aggravate the problems of heavily indebted developing countries
they have informed me that they like our company and purchased the stock last year for investment purposes santa fe chairman john schmidt said in a statement
the bonus awards were made to louis dreyfus corp 200000 tonnes and continental grain co 25000 tonnes and will be paid in the form of commodities from ccc stocks
debt proposal faulted by argentine observer
shr 54 cts vs 40 cts net 11105000 vs 8310000 sales 2827 mln vs 2903 mln avg shrs 20599000 vs 20760000 note per share results restated for may 1986 three for two stock split
the sources said payment levels have not yet been fixed but will be designed to compensate farmers for loss of profit on the production they forego
told a meeting of financial analysts
the dollar hovered around 14470 just before midday
it is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
three eleventh round blocks were awarded in the haltenbanken exploration tract off central norway including the smoerbukk west field where den norske stats oljeselskap a s statol statoil was appointed operator
french official reserves rise in may
polycast said it made the sales april 6 8 in the over the counter market
it said its dealings in italy fund stock are for investment purposes only and that it has no current plans to increase or decrease its current stake
the financial rand was reintroduced in september 1985 to help end capital flight from south africa during a period of severe political unrest in the country
shr 767p vs 534p div 15p vs 108p pretax profit 3012 mln stg vs 1240 mln net interest payable 255 mln vs 200 stg net after tax 1958 vs 744 mln turnover excluding vat 25766 mln vs 7409 mln note the company said it intends to issue a second interim statement for the six months to july 1987 and to pay a related dividend in early 1988
ibm said the new organization will oversee the technical and marketing support of rolm and ibm telecommunications products but will not be responsible for sales and marketing of ibm gear
at the intermediate stage liquefied petroleum gas prices rose 101 pct last month after a 50 pct january rise and were 410 pct below prices a year earlier the department said
a complaint that the brazilian imports were being dumped at below costs on the us market was filed on behalf of us growers by the florida citrus mutual a lakeland fla group alcoma packing co inc and barry citrus products
the us oil and gas industry is in better health than it was a year ago according to testimony given to the texas railroad commission at its annual state of the industry hearing today
major oil companies are trying to boost their gasoline sales network ahead of the proposed lifting of gasoline production quotas an official at a major oil company said
amoco corps petroleum liquids reserves total 242 billion barrels at the end of 1986 down from 277 billion a year earlier but its natural gas reserves increased to 1537 trillion cubic feet from 1514 trillion the companys annual report said
net profit 255 mln swiss francs vs 222 mln turnover 717 mln vs 739 mln cash flow 754 mln vs 581 mln proposed dividend 70 francs vs same note company plans one for two rights issue of 40000 participation certificates of nominal 50 francs
kaneb services inc kab 4th qtr loss
the federal funds rate opened at 6 3 8 pct and remained at that level up from yesterdays 617 pct average
house trade bill drafting postponed
as a result dome adopted current prices and costs and a 10 pct discount factor in the calculations which substantially conform with accounting rules prescribed by the us securities and exchange commission the company said
swiss foreign exchange dealers described the national banks purchases as modest perhaps amounting to no more than 20 or 30 mln dlrs
gmac canada unit issues canadian dollar bond
merrill lynch says proration factor for supermarkets tender is 8566 pct
but others said it may instead have given payment guarantees to allow for the shipping of an old contract to go ahead
german m3 rises 26 billion marks in february
revenues for the year rose to 650 billion compared with the prior years 596 billion
year on year m 1 grew by 156 pct in january compared with an 118 pct growth in december
but emphasis on short term cash flow has also forced the company to part with several oil and gas assets
the total area sown was 123 mln to 130 mln hectares 103 to 152 pct down on the 145 mln sown last season
quaker state oil refining corp said it signed a 100 mln dlr revolving credit and term loan agreement with a group of six banks for which mellon bank na is agent
the notes have an 8 3 4 pct coupon and were priced at 9920 to yield 125 basis points more than comparable treasury securities
feds heller says monetary growth to be slower
bond prices had been making a smart recovery from two days of heavy selling when citibank surprised the market by announcing a quarter point increase in its prime rate to 7 3 4 pct
factory consumption of inedible tallow and grease in february was assessed at 2383 mln lbs vs a revised 2504 mln lbs a month earlier and 2205 mln lbs in the year ago period
they will be offered at a base price of 72 lire down from 74 previously for an effective net annual yield on the first coupon of 1015 pct against 966 in march
deng sets limit to china grain imports paper says
fixed asset expenditure rose by 96 pct to more than 650 mln
utility earnings are sensitive to interest rate increases because of the high levels of borrowings needed to finance ongoing construction projects
mobil oil corp of us plans to open an office in peking to develop oil exploration opportunities in china the china daily said
tokai international ltd is other joint book runner
the company said it is well positioned to capitalize on profitable opportunities in its core business areas and will continue to invest to increase revenue and asset values
forstmann little and co said lear siegler holding corp plans to divest its aerospace group subsidiary comprised of the defense electronics group and the components group
prior qtr ended march 1 1986
banque paribas will act for carburos metalicos while union carbide frances bid is being led by rothschild et associes banque
naturally that would mean a sharp bond price fall
colombian exports other than coffee rose 55 pct in january compared with the same period last year figures from the government statistics institute show
buoyed by low fuel prices and favourable currency factors cathay pacific airways ltds caphhk 1986 profits are expected to surpass the airlines forecast of one billion hk dlrs stock analysts said
alternatively support could be limited to wheat which could be easily sold without needing to be stored for a long period
seipp said extraordinary earnings included a high two figure million in profit from the sale of the banks aeg ag aeggf shares to daimler benz ag daigf during the latters majority stake purchase booked last year
modulaire modx buys boise homes property
but recently demands for more stringent and justifiable pacts with emphasis placed on the need for intellectual honesty and objective criteria have grown
he said venezuela now obtains trade credit lines without a government guarantee something that argentina and others are just starting to try to negotiate in their restructuring packages
dnc unit issues 19 billion zero coupon yen bond
the merger involves the formation of a new company astral pacific corp ltd which will acquire all shares in both companies on a one for one share exchange basis
hong kong recorded a 351 billion hk dlr deficit in february after a 254 billion dlr surplus in january as imports climbed and exports slid the census and statistics department said
the first coupon of 21350 francs will be paid on october 13 1987 and thereafter on april 13 each year
sendi also told reporters he had negotiated a 697 mln french franc loan from the banque industrielle dafrique oriental in paris
wtd industries wtdi to sell debentures
brazil the third worlds largest debtor has suspended all interest payments on its 109 billion dlrs of foreign debt
hre properties hre 1st qtr ends jan 31 net
qtly div two cts vs two cts prior pay april 24 record april three
the balls in our court now one banker on the committee said
brett said we think the 290 marks level is a central rate
the agency cited british petroleums 74 billion dlr tender offer today for the remaining 45 pct of standard oil shares it does not already own
traders said cash sales have been slow in the country and the soybean harvest in brazil has been delayed by rain which is limiting supplies
shr profit 14 cts vs profit one ct net profit 502251 vs profit 22012 sales 4715846 vs 3731900 avg shrs 3489342 vs 3288720 nine mths shr profit 19 cts vs loss 20 cts net profit 637305 vs loss 658398 sales 122 mln vs 9806301 avg shrs 3439065 vs 3288720 backlog 1726150 vs 739540
we maintain whats going to drive canadas export performance is income growth in the us said midlands donegan
canon inc cannt year ended decmeber 31
the guarantee rates include a charge to provide for a yearly interest rate coverage of up to 45 pct on the guaranteed value the department said
an additional 143000 tonnes of mixed poultry feed are still available to north yemen under the export enhancement program announced april 14 1986 it said
us exporters report 120000 tonnes wheat purchased from foreign sellers for 1987 88
burlington coat factory bcf 2nd qtr net
it said its murray printing co unit has undertaken a program of extended work hours and salary and job cuts which will save more than 15 mln dlrs annually
us producer prices rise 01 pct in february
swiss re will acuqire 500000 of the shares immediately and remaining shares will be bought after a due diligence report is completed by auditors
the state department statement said gsa tin disposals increased in calendar year 1986 due to changed market conditions
its 1986 pretax profits excluding extraordinary items totalled 114 mln canadian dlrs
the tender calls for one cargo of prompt sugar and two to three with march april shipment sugar or the same as the eight cargoes bought at a tender two days ago
shr loss two cts vs profit 14 cts net loss 2515000 vs profit 28569000 sales 141 billion vs 8852 mln avg shrs 2392 mln vs 1044 mln year shr profit 33 cts vs profit 47 cts net profit 83750000 vs profit 76130000 sales 477 billion vs 281 billion avg shrs 1988 mln vs 983 mln note current qtr and year figures include gains on securities sales of 39 mln dlrs and 38 mln dlrs respectively
if you make an effort there is money to be made in japan he added
symms intends to offer the bill as an amendment to any related legislation this year an aide said
iraq is currently producing around two mln barrels per day compared to its second half quota of 154 mln they said
abu dhabi marketing said not breaching opec pact
it had closed at 15105 15 yen the previous day
financial corp of americas american savings and loan association said it completed the previously announced purchase of 16 retail savings branches from great western financial corps gwf great western savings
said
though many economists said the unions current warning strikes and rhetoric were part of the negotiating strategy and would not lead to a repeat of 1984s damaging seven week strikes others said unions would not compromise greatly on their positions and there could still be conflict
coastal said raised oil postings 50 cts a barrel october 16
he said the current debt service ratio over 40 pct of export revenue was too high
sterling rebounded on the trade figures reversing a weaker morning trend to stand at 721 pct of its trade weighted index against a basket of currencies at midday unchanged from yesterdays close but 03 points above the 1100 gmt level
the new sec move would also allow those foreign government debt securities to be marketed in the united states by countries other than those that issued the securities the officials said
but the executive conceded a merged twa usair would be a strong contender with usairs east coast route system and planned west coast presence from psa
some 427054 shares already have been issued
lougee said at some point in the future banking operations that both norstar and fleet operate in the state of maine would be combined
on income based gdp the index in the fourth quarter rose by 07 pct from the third quarter and was up 38 pct on the year ago quarter
calls for a cut in austrian interest rates have grown in recent days but bank chiefs are divided over the issue
exchange rates generally are regaining stability and the economies of industrialised nations are heading for a steady recovery he said
in the same year ago period goodyear reported a loss of 59 cents a share from continuing operations
in fiscal 1986 tandem earned 144 dlrs a share
shr 41 cts vs 35 cts net 2362000 vs 1613000 avg shrs 5567300 vs 4070700
robert bruce industries inc bruca year loss
westmin resources ltd said it plans to increase capacity at its myra falls british columbia base and precious metal mine and mill complex by 33 pct to 4400 short tons of ore a day subject to regulatory approvals
it said it asked its investment advisor bear stearns and co to advise its board on the offer
the third barents sea licence covering blocks 7124 3 and 7125 1 went to saga petroleum a s the operator statoil atlantic richfield cos arcn arco norge a s total marine norge a s and amerada hess corp ahcn the oil ministry withheld awards on four strategic blocks included in the eleventh rounds second phase
rimmer de vries chief international economist at morgan guaranty trust co said he was very concerned that world economic growth of three to 3 1 2 pct cannot be sustained and that west germany and japan wowuld not take up the slack in the world economy that will arise as the us narrows its trade deficit
bally reportedly already has been approached about six flags by several prospective buyers
usda has confirmed one mln tonnes of corn sold to the soviet union but both us and soviet analysts have said the purchases stand at 15 mln tonnes
county increases tesco stake in hillards
atlantic richfield co said it sold its plan cell research institute unit and its arco seed co operations in two transactions for undisclosed prices
meanwhile production of refined lead in january rose to 28188 tonnes from 23693 in december but slab zinc production fell to 4490 tonnes from 5793 the wbms figures showed
oil traders said nigerian brass river sold for delivery into the us gulf at a price related to north sea brent which traded this week at 1760 dlrs far below the official price of 1892 dlrs for the similar quality bonny light
jones said a us discount rate increase to six pct might well be accompanied by west german and japanese rate cuts to further aid the dollar
quest qbio signs pact with alza aza 
but he said the opposition parties should be careful not to raise false alarms too early the case now goes before the us commerce departments trade division to determine if a duty should be imposed
he said the company plans to introduce several products including two low end systems and a data base that uses the sql programming language an industry standard
investors may demand disclosure of information chinese institutions are unwilling to give he said
the ruling liberal democratic party ldp has proposed expanding imports of 12 farm products named in a us complaint against japan to the general agreement on tariffs and trade last year an ldp official said
banco di sicilia international sa is issuing a 30 mln us dlr zero coupon eurobond due april 15 1992 and priced at 7040 nomura international ltd said as joint bookrunner
yaacobi said export growth must increase ten to eleven pct annually the rate achieved until the 1973 yom kippur war
lincoln national corp lnc votes dividend
merrill lynch capital markets said it received a mandate from industrial equity ltd iel of australia to arrange a letter of credit facility in support of 100 mln dlrs of medium term notes and us commercial paper to be sold in the us domestic market
spi holding inc a group consisting of hicks and haas and acadia partners lp said it has received commitments for the senior bank financing needed to complete its proposed acquisition of spectradyne inc for 46 dlrs a share in cash or securities or a total of about 452 mln dlrs
lubys cafeterias inc lub 2nd qtr feb 28 net
us export inspections in thous bushels soybeans 18345 wheat 11470 corn 34940
it said the loan consists of a credit line to ljubljanska banka ljubljana lbl to finance a project expected to improve industrial competitiveness and reduce energy imports easing the countrys current balance of payments difficulties
dataflex corp dflxo 4th qtr march 31 net
the soviet unions industrial output is growing at a slower pace in 1987 than in 1986 and foreign trade has fallen central statistical office figures show
40 miners trapped by fire in gaspe copper mine
share adjusted for stock dividends
shr 81p loss vs 263p earnings div 325p making 525p vs 105p net loss 621 mln stg vs 716 mln profit operating profit before tax 736 mln vs 2738 mln turnover 147 billion vs 174 billion cost of sales 122 billion vs 139 billion gross profit 2418 mln vs 3576 mln distribution costs and administrative expenses 1522 mln vs 1231 mln share of profits in associates 171 mln vs 682 mln other operating income 158 mln vs 169 mln financing charges 489 mln vs 458 mln tax 639 mln vs 1697 mln exceptional items 49 mln debit vs 55 mln debit net results of discontinued operations 156 mln debit vs 209 mln debit loss on ordinary activities before minority interest 108 mln vs 777 mln profit minority interest 113 mln vs 61 mln extraordinary debits 400 mln vs nil
banking sources said the rescheduling is part of iraqs continuing effort to defer payments of foreign debt as its economy comes under strain from the gulf war and soft world oil prices
coffee does not need very much water to survive and only old cocoa plants have been affected in some regions it added
the board oversees collection and distribution of funds from the checkoff program that was mandated by the 1985 farm bill
feretti conservatively estimated tennecos breakup value at 58 dlrs a share and said the company generated a cash flow of about 10 dlrs a share which is probably very attractive to pickens other analysts however estimate a breakup value well into the 60 dlr a share range
no action has been taken yet on the reagan adminstrations offer to escort kuwaiti oil tankers through the gulf but the issue is being discussed us secretary of defence caspar weinberger said
egypts central bak left the dollar rate for commercial banks for april 8 unchanged at 1353 67 pounds
ganilau said however the bank is prepared to carefully consider requests for rescheduling loan repayments in cases of hardship on a case by case basis in response to a further demand that all soldiers be removed from the cane growing areas ganilau said the army would restrict its presence in the cane areas
shr six cts vs three cts net 152360 vs 94141 revs 4073911 vs 4116333 note full name is international research and development corp
fed adds reserves via overnight repurchases
koffi dei anang told a news conference at the banks headquarters that loan arrears were only 80 mln dlrs at present a small percentage of total adb lending which exceeded one billion dlrs in 1986
chemfix technologies inc cfix 2nd qtr net
kingdom of sweden issues 100 mln stg bond
economic spotlight bolivia
oak hill sportswear corp ohsc 4th qtr net
shr loss 17 cts vs loss 19 cts net loss 213000 vs loss 217000 sales 6788000 vs 6254000 year shr loss 22 cts vs loss five cts net loss 270000 vs loss 61000 sales 270 mln vs 270 mln
new dutch bullet state loan at 6 1 4 pct due 1995
ec external trade commissioner willy de clercq has written to his us counterpart trade representative clayton yeutter outlining the ecs concerns
merrill lynch issues 100 mln ecu eurobond
a few have reached agreement with bankers to extend debt repayments
david woods spokesman of the general agreement on tariffs and trade gatt told a news briefing that the main parties would continue bilateral talks
oper shr 14 cts vs four cts oper net 2959000 vs 1103000 sales 225 mln vs 252 mln note oper data does not include extraordinary gains of 3686000 dlrs or 17 cts per shr in current quarter and 975000 dlrs or eight cts per shr in year ago quarter from sales of certain marketable securities
fishman who has heard the sun chemical rumor said a 40 dlrs a share would just open the bidding
prior qtr and year figures include gain on securities sales of 39 mln dlrs
bundesbank officials have already said they favour more discreet rate adjustments through repurchase pacts rather than the more public adjustment of leading rates
tultex corp ttx sets quarterly dividend
now more than ever it is clear that latin america cannot pay under present conditions without sacrificing growth peruvian president alan garcia said referring to brazil
gustafson said he would not be changing his estimate of planted acreage for corn as a result of the latest figures but some other analysts said they would adjust their estimates slightly
the brazilian negotiations resume on friday in new york when central bank governor francisco gros is expected to ask banks for a 90 day roll over of some 95 billion dlrs of term debt that matures on april 15
yes im troubled with that a little bit he said
the latest bank debentures at 46 pct have met strong end investor demand on the prospect of further declines in yen interest rates dealers said
it will use the proceeds to repay debt finance recent acquisitions and for other corporate purposes
anyone outside the program is subject to the wiles of the market said walter brown market analyst for a major california cotton producer
white sugar denatured and non denatured 5194 versus 5136 previously
the bank said it was the ninth consecutive current account surplus since the start of 1985
lanesboroughs subordinated notes lowered by s p
the transaction carries the guarantee of nomura securities
science accessories corp seas 1st qtr net
the offer is for a minimum five mln common shares and a maximum six mln shares the company said
dorsey corp said it completed the sale of substantially all its dorsey trailers inc subsidiary assets to trailer acquisition corp whose stockholders include a former dorsey vice president and several executives of the dorsey trailers management team
if something was not to be delivered if the statement wasnt considered tough enough one might see a substantial outflow buttrose said
cashin said the sale will result in a significant profit and places renouf in a good position to consolidate on recent transactions and pursue other opportunities
franco nevada said it has a four pct royalty plus a five pct net profit interest on the acreage
opecs credibility faces fresh scrutiny in coming weeks amid signs of a significant rise in supplies of oil to international oil markets the kuwait daily al qabas said
asamera asm completes refinery sale
a university of massachusetts finance professor said he raised his stake in banc texas group inc to 45340 shares of 14625 dlr cumulative preferred stock or 74 pct of the total from 30300 shares or 50 pct
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
a single purpose company italfunding ltd has been created for the purpose of obtaining funds on the international capital markets to refinance 443 mln dlrs of mexicos official debt to italy at very attractive rates morgan grenfell and co ltd said as lead manager and arranger
in recent months with the marks strong rise against the dollar poehl has made exchange rates the central concern of the bundesbanks council a highly conservative institution which has doggedly pursued monetary policies to prevent inflation catching hold
synar democrat of oklahoma made his remarks in comments on a study by the general accounting office gao on the us participation in the 1985 test of the emergency oil sharing program of the international energy agency
it said the increase came mainly from interbank activity with interbank lending rising to 14661 billion dlrs in december from 13476 billion in november and 10493 billion in december 1985
mexico has already sold 80 pct of its export coffee produced in the year to last september the source said
west german president richard von weizsaecker said both debtor and creditor nations share responsibility for the third worlds foreign debt crisis
the proposed acquisition price is approximately 175 mln dlrs in cash the company said
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
it operates a global packet switching network and global limits systems for foreign exchange trading
we have not gone from no confidence to full confidence yet commented one banker who saw the agreement as having marginal influence on fundamental economic problems
a settlement could soon be reached in the dispute between european sugar producers and the european community over ec export licencing policies jean marc vernes president of french sugar producer beghin say which is leading the protest told journalists today
if and when it becomes necessary the government will be ready to take any necessary economic and political initiatives as it has in the past simonsen said
the dollar tumbled one day after top finance officials from the seven largest industrial nations reaffirmed their commitment to support its value and despite reports of intervention by the us federal reserve bank traders said
bell group issuing 200 mln in convertible bonds
the cuts follow a similar move by national westminster bank plc nwbll the rate changes take effect tomorrow
clark copy buys norwegian firm
a reagan administration official said this would show there had been some change in approach on the part of the central bank in germany
penn pacific corp said it plans to place about two mln dlrs of convertible debentures with persons outside the us through euro continental securities
moodys said that may include divestiture of various petroleum and non petroleum assets and operations of bp and standard
plains petroleum co plp 3rd qtr net
farmers enrolled 1894764 acres of corn base acreage in the conservation program to take advantage of a corn bonus rental payment that was offered by the usda which may underpin new crop futures they said
graan elevator mij gem said its balance in port of grains oilseeds and derivatives rose to 146000 tonnes on april 11 from 111000 a week earlier after arrivals of 404000 tonnes and discharges of 369000 tonnes last week
manila originally offered to pay interest in cash at 5 8 over libor or in a mixture of cash and pins tradeable dollar denominated zero coupon notes that could potentially yield up to one point over libor
president alan garcia said peru has found gold deposits worth an estimated 13 billion dlrs in a jungle region near the ecuadorean border about 1000 km north of here
this action is required as we bring our finished goods inventory and inventory in our distribution channels down to acceptable levels it explained
the only thing that will stop the dollar falling is a substantial increase in the discount rate and a corresponding cut abroad at least by japan said lanstons jones
yield increases continue to be hampered by an insufficient supply of quality seeds along with pest and disease problems the report said
the defense department said the 12th such convoy of us flagged kuwaiti tankers through the gulf began at 0230 edt under the escort by the us guided missile frigate ford
liemandt who said he will leave the company after the merger is completed also turned to acquisitions for growth
mobile communications corp mccaa yr net
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
southam inc stmto 1st qtr net
indonesia is a major palm oil producer
papandreou has maintained in the past that he will not negotiate with ankara until turkey recognises greek rights in the aegean and withdraws its troops from cyprus
builders are looking at current mortgage rates and saying lets do it now said mark obrinsky of the us league of savings institutions in washington whose members supply much of the financing for home building
kraft kra completes buy of quaker oat unit
jay cooper said
depending upon the results of the re evaluation of a significant bayou well as of jan
the debentures were given a 7 1 2 pct coupon and par pricing
if the application is approved twa could buy up to 10 pct it said
ford will invest 12 billion dollars in europe in 1987 and a total of seven billion over the next seven years he added
tidewater inc said it completed agreements to restructure about 125 mln dlrs in debt that call for payment of interest only through march 1989
infinite graphics infg sees higher 4th qtr
but such demands could re emerge if west germany failed to stimulate its economy enough to affect the massive us trade deficit
taiwan to boost farm imports from us europe
foreign firms have invested 21 billion dlrs on offshore china since 1979
dyr said the pay date for the dividend will be april 28
production of capital goods fell 2 1 2 pct while output of consumer goods was unchanged
the bank of sissonville has total assets of 255 mln dlrs as of dec 31 1986 the company said
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
waste management wmx to raise chemlawn chem bid
pre extraordinaries net shr 7553 cents vs 7832 div pay april 30
the reductions cover only a common list of 300 or so widely traded commodities and goods but pta sources said the organisation planned to expand the list to include 425 items
phoenix was forced to close the clayton mill last month
the foodservice division which includes burger king arbys and tony romas had a pre tax operating loss of 296 mln dlrs in 1986 including the 340 mln dlr charge to restructure bojangles
mcadoo was traveling and could not be reached for comment
phelps dodge which ranks as the largest copper producer in the us last year paid 240 mln dlrs for columbian chemicals co a maker of carbon black which is used in rubber and tires among other products
they told reporters that there was no pressure on japan during the group of seven g 7 meeting here yesterday to lower its discount rate
if approved by shareholders the amalgamation will take effect april 30 husky said
you take the taiwanese with an enormous capital surplus enormous trade surplus and weve had very little cooperation there he said
parent bank tax payment rose to 244 mln marks last year from 233 mln in 1985
us energy industry said in better health
emhart has divested itself of many of its units to focus on three primary markets industrial products consumer products and information and electronic systems
there will be no spring downturn said randol speaking at the annual refiner meeting
australian beef output declines in january
southern home savings bank shsb year net
androsch said industrial holdings had performed better in 1986 than in previous years giving a return on investment of 26 pct compared with 13 pct in 1985
independence now owns about 40 pct of south atlantics 98 mln primary common shares
merrill lynchs position is and has always been that violations of the law are not tolerated the firm said in a prepared statement
purolators stock slipped 3 8 today to close at 34 3 4
he defended flexible exchange rates saying wide swings in rates were not a fault of the system but of the undesirable policies that produced them
allegheny intl ag sells three overseas units
baird said the us district court in boston has denied mark ivs application for a temporary restraining order to prevent enforcement of the massachusetts takeover law
total west german exports to western industrialised countries also fell in january to 3476 billion marks from decembers 3645 billion also posting the lowest monthly total since july 1984
burlington lawyers said shortly after he left he began working with a painewebber employee on a hostile plan to takeover the company dismember the company and displace its management burlington lawyer hubert humphrey said
the resolution said the european community commission has proposed establishing a consumption tax on vegetable and fish oils and fats in conjunction with the setting of farm prices for the 1987 1988 ec marketing year
smithkline skb aims for 10 pct earnings raise
japan central bank actively buys dollars in tokyo
chrysler corp said it is asking shareholders to increase the number of shares of authorized common stock to 500 mln from the current 300 mln
the offer would be made on the basis of 17 new woolworth ordinary shares for every 20 in superdrug
ideally id like to freeze things right where we are said huckaby leading advocate for sugar growers in congress
wainco oil corp said it has completed a wildcat well on its grandmarais prspect in jefferson davis parish la which is currently producing at a rate of 11 mln cubic feet of gas and 40 barrels of condensate daily
but the analysts added that robins desire to emerge independent from two years of bankruptcy proceedings may be thwarted by some robins shareholders who perceive a merger as a more expedient way of dealing with the companys dalkon shield related liabilities
a poll of 10 economists shows most expect interest rates to edge lower with the fed likely to drop its basic lending rate from 5 1 2 pct late next quarter to help the economy
the peso lost 222 pct in value to slump to 18002 to the dollar when it was floated in 1984
barclays bank said its cutting base lending rate to 10 pct pct from 105 pct
saudi output excluding movements into stocks fell to 31 mln bpd in early march from 35 mln bpd in february against a 4133 mln bpd quota
shr 19 cts vs 18 cts net 1230041 vs 1153280 sales 10909729 vs 9675355 six mths shr 31 cts vs 29 cts net 2019930 vs 1857357 sales 210 mln vs 178 mln
however the figures exclude exchanges with the eastern bloc paid in non convertible indian rupees the sources said
us makes conciliatory move at rubber pact talks
balance sheet total 6150 billion marks vs 6367 billion
if successful the stock bid would markedly raise caesars worlds financial risk and lead to a large drop in net income and cash flow s and p said
it said the qualification related to its inability to determine the effects if any of the final resolution of a suit filed against it by washington public power supply system the 1985 suit was dismissed in a 1986 lower court action but the ultimate outcome of the matter is still uncertain since washington public power has appealed to the us court of appeals
french money supply measured in terms of m 3 rose a provisional one pct in january after falling 07 pct in december the bank of france said
franklin insured sets monthly payout
but if both sides drew back from the brink that time he said it does not mean that they would do so on another occasion channon added that there is increasing reesentment in europe over the us tactic of negotiating under the pressure of unilaterally imposed deadlines he said other potential conflicts are already in sight alleged european government subsidies of airbus aircraft and taxes on fats and oils and the commuity and the united states must therefore learn to manage their relations better he said another bill to let the united states retaliate against a nation if that nations market was not open to us goods would bypass the trade pact gatt general agreeeement on tariffs and trade as an arbiter of trade practices
estimates for total sorghum production this harvest remained at 32 to 35 mln tonnes again this week or 167 to 22 pct lower than last harvests total volume of 41 to 42 mln tonnes
heublin is a subsidiary of grand metropolitan plc gmhll corby said mcguinness will remain a seperate business unit with a seperate sales force
britain today called on japan to increase foreign imports or risk the rise of protectionism and the harm it would bring to it and other trading nations
when asked if the usda emergency storage program which allows grain to be stored in barges was taking up barge space and accounting for the higher freight rates sindt discounted the idea
the higher levies affect official transactions such as road tolls vehicle transfers and various licence fees he added
at this months session which was the fourth attempt in two years to negotiate a new inra the main issue to be resolved concerned the mechanism for adjusting the reference price
the merged markets will remain at the baltic exchange
south africa banks work out debt plan standstill extended to 1990 bankers
japan to make loans to indonesia and bolivia
privately held rapid american corp said it has completed the previously announced acquisition of 66 kresge and jupiter stores from k mart corp
poehl looks set for eight more years at bundesbank
valero energy corp vlo said valero natural gas partners lp was making an initial public offering of 95 mln units at 2275 dlrs a unit
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
newmont gold 95 pct owned by newmont mining corp nem said it expects significant increases in gold sales in 1988 and 1989 as well
goodyear gt to sell celeron
orders for defense capital goods rose 489 pct to 69 billion dlrs following a 388 pct decline in january
india feels it will be useful to have quotas now because the slide in prices is unlikely to be halted immediately he said
first bank systems fbs units hike rate
as this increase in efficiency reduces the marginal cost of production sugar exporters may become more responsive to prices and in particular to upward price movements man said
the well was drilled by a group of japanese companies
the company said the offering was to have raised 7500000 dlrs for working capital through the sale of equity and debt and would have also financed the 1897000 dlr cash portion of the universal care purchase price
saitama bank issues 100 mln dlr convertible bond
senior ec diplomats gave a generally favourable reaction to an ec executive commission proposal under which the ec could raise tariffs on a range of japanese products if the us carries out a threat to make a similar move on april 17
the new tariffs to go into effect on april 17 are in retaliation for japans failure to adhere to an agreement to end dumping semiconductors in world markets at below cost and to open its home market to us semiconductor shipments
qtly div 1 1 2 cts vs 1 1 2 cts prior pay april 15 record march 30
fnma clarifies current debt offering status
cut to baa 2 from baa 1 were the senior debt of the company and the guaranteed debt of its unit beneficial overseas finance nv
rotterdam grain handler says port balance rose
non callable to maturity the issue is rated a top flight aaa by moodys investors service inc but aa by standard and poors corp
manufacturing activity showed signs of improvement in most regions except dallas where orders remained sluggish
the us attack on irans oil platforms jeopardises our national sovereignty and we will retaliate properly for this perfidious american aggression mousavi told a news conference in damascus
atlantic richfield cos stock rose sharply after analyst eugene nowak of dean witter reynolds inc raised his earnings estmates of the company traders said
the final budget would be the fiscal 1988 spending and revenue blueprint
mepc extends offer for oldham
bundesbank president karl otto poehl said there were good chances for exchange rate stability
a brazilian seamens strike which began on february 27 and has been tapering off for weeks has now ended a seamens spokesman said
att t chairman says dividend will not be cut
shr 19 cts vs 18 cts net 835000 vs 794000 sales 239 mln vs 205 mln nine mths shr 47 cts vs 91 cts net 2104000 vs 3489000 sales 745 mln vs 652 mln avg shrs 4450675 vs 3822894
delhi is one of australias largest onshore oil producers yielding about six mln barrels a year from the cooper basin
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
earnings per adr according to us accounting principles after real tax without the writedown 98 crowns vs 949
farm subsidies and protectionist moves threaten healthy trade on both sides of the atlantic michael jopling british minister of agriculture fisheries and food warned
the bank would immediately resume loan disbursements to peru once it cleared its arrears he said
united tech utx sees no earnings impact
if the compromise is accepted by the council most consumers and producers want buffer stock rules to take effect next week or as soon as practically possible
ef hutton lbo inc said the tender offer by its wholly owned unit pc acquisition inc for purolator courier corp pcc expired at 2400 edt yesterday without the purchase of any purolator common stock
karl herbert schneider gaedicke deputy management board chairman of dg bank deutsche genossenschaftsbank said german domestic and institutional investors had also shown reservations about investing in participation shares
fhlbb changes short term discount note rates
us trade representative clayton yeutter said the united states and argentina have settled a case brought by the us soybean crushing industry alleging unfair subsidies to argentinas crushing industry
schultz said that while he does not favor a situation that would allow the soviet housewife to buy food cheaper than the american housewife he realizes the importance of american agricultural products being competitively priced
theyve lost their credibility
spanish farm minister carlos romero speaking at a meeting of ec farm ministers called for action to help the spanish maize market spanish diplomatic sources said
global trading of yen bond futures is just around the corner and they are expected to be listed soon on the london international financial futures exchange liffe and the chicago board of trade cbot bond managers said
pearson plc psonl said the recent sale of its fairey engineering companies in a 515 mln stg management buy out was part of its policy of concentrating on four key sectors
analysts say new dow components aid average
the cso said the average gdp estimate index for 1986 as a whole was 1131 up 26 pct from 1102 for 1985
weizsaecker calls for easier argentina debt terms
norway not an opec member decided in june to extend the production restraints enforced since february 1 1987 on all its north sea fields for the rest of the year
robin kline a dietitian and director of consumer affairs for the nppc said he was not surprised at the wide discrepancy between the study and the usda handbook
in a suit filed in us district court international multifoods said bregman partners and its affiliates who reportedly hold 74 pct of the companys shares tried to induce multifoods management to join them in an effort to take the company private and give controlling interest to bregman partners
more us grain certificates needed study says
this means a 32 pct rise in total dividend payments to 52814 mln francs on 1986 results from 39962 mln the previous year
detroit edison said with interest and other charges running about 10 mln dlrs a day the delay caused by reheater modifications will add approximately 30 mln dlrs to the plants cost raising the estimated total cost to 426 billion dlrs from 423 billion dlrs
jacobs sold his stake after borg warner after the company failed to respond to his mid february offer for a negotiated agreement at a minimum price of 44 dlrs a share
it said instead that such moves as increasing oil reserves and more exploration and development research would help to guard against or mitigate the risks of increased imports
us sells 3 mo bills at 598 pct stop 599 pct 6 mo 608 pct stop 610 pct
lower tax offsets lower shell uk upstream profit
in 1986 it cut about 850 positions
standard oil co said a contract has been awarded to cbs engineering inc for a drilling and production platform to be installed in ewing bank block 826 in the gulf of mexico where standard and mobil corp each own a 40 pct interest
in a filing with the securities and exchange commission lloyds said it bought the additional 294500 italy fund common shares since november 7 for a total of 33 mln dlrs
in frankfurt banks will close on tuesday in the afternoon
the company explained the judgment was in regard to a lawsuit first filed in 1978 for patent violations on the manufacture and sale of transition d subminiature idc connectors
sanford margoshes of shearson lehman brothers inc told clients this morning that a sweetened offer was possible
i am encouraged by the continuing improvement in earnings danworth said
but rigid adherence to dollar ranges would be bad said morrison
turkey seeking 100000 tonnes sugar trade
in keeping with the spirit of the september agreement he said all countries from the organization of economic cooperation and development have continued to provide export credit facilities for mexico despite the debt restructuring
it could happen any time jauppi says
american can co acn is issuing a 150 mln dlr convertible eurobond due april 22 2002 carrying an indicated coupon of 5 1 2 to 5 7 8 pct priced at par lead manager morgan stanley international said
the ministry has favoured the merger of the two rival groups arguing the market cannot support more than one competitor to kokusai denshin denwa co ltd which now monopolizes the business
the results for the banking sector are to be presented at a shareholders meeting scheduled for april 29
strenger said 1986 operating profits of german chemical firms were slightly worse than the year before but the improved financial and balance sheet structure after three good years neutralized the negative impact
society for savings said it has completed a merger into newly formed holding company society for savings bancorp inc on a share for share basis
turkey bought an estimated 100000 tonnes of white sugar from three trade houses today for april to june shipment according to trade sources
suntrust banks said that sun banks in florida and trust co banks in georgia have raised their prime rate to 7 3 4 pct from 7 1 2 pct
us selling 132 billion dlrs of 3 and 6 mo bills april 6 to pay down 165 billion dlrs
the company normally pays quarterly preferred dividends totalling 619000 dlrs from retained earnings equity silver said
the federal reserve entered the us government securities market to arrange overnight system repurchase agreements a fed spokesman said
paralax vido agrees to acquire american video
this monetary tightening reflected a switch from the pragmatic line pursued by bundesbank president karl otto poehl since early this year to stabilise the mark externally to the more cautious approach of vice president helmut schlesinger
the bond is available in denominations of 100000 dlrs and will be listed in luxembourg
they said the bank seemed more determined to support the dollar than it did this morning
twa said it would not buy more usair group stock at least for the moment
the increase in shares outstanding will broaden the base of stock ownership in the company and the dividend increase reflects the directors positive outlook for the future prospects of pier 1 imports said clark johnson president and chief executive officer
standard and poors corp said it downgraded dana corps 900 mln dlrs of debt securities
maxtor corp mxtro buys private firm
but after five years of economic adjustment latin american debtors are currently unable to raise voluntary credits with the exception of colombia
no other details of the proposed agreement were available
he said that unlike saudi arabia kuwait did not impose any conditions on brazil
qtly cash distribution 72 cts vs 72 cts prior pay may 15 record march 31
world bank said it has loaned portugal 50 mln dlrs to help improve its highway system
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
the company has changed its fiscal year to end sept 30
the light sweet crudes produced from these north sea fields also gave the company trading gains as exxon was able to sell much of this crude and replace it with cheaper lower quality crude oil for its refineries which have been upgraded over the past several years
in november the index base 1980 stood at 1448 showing a rise of 43 pct on a year on year basis
texas commerce chairman ben love in an interview with did not elaborate on how much the bank expected earnings to increase
today the focus shifted to the yen which has held to a very tight range against the dollar for several months
general motors corp said it produced 395294 cars in the us in march up from 366671 in march 1986
british authorities are also understood to have intervened to curb sterlings strength
marris expects the fed to act quickly to raise interest rates even at the risk of increasing the debt burden for american farmers latin american governments and others
citicorp has estimated its profits for the first quarter would be cut by 50 mln dlrs if it put brazil on a cash basis
analysts also said borg warner may attempt to escape gaf through a restructuring
the japan india pakistan gulf japan shipping conference said it would cut the extra risk insurance surcharges on shipments to iranian and iraqi ports to a minimum three pct from 45 pct on october 25
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
drysdale said pay n pak has better trained sales people than many competitors but it competes on price even though competitors have lower costs
an economy ministry decree published in the official gazette said that the amount comprised 472 mln drs in arrears in principal which matured between 1982 and 1986 inclusive and and 888 mln dlrs in principal which were to mature between 1987 and 1996 inclusive
we are determined not to go the way of latin american debtor nations which have suspended interest payments of their debts the spokesman said
chartered bank general loans outstanding fell 584 mln dlrs to 12758 billion dlrs
asa president elect wayne bennett said yesterday in the hague american soybean producers were confident the proposed tax would be rejected
hutton several months ago rejected a buyout offer from shearson lehman brothers inc she the newspaper story mentioned speculation american express co axp the parent of shearson was a possible buyer
shr profit one ct vs loss 28 cts net profit 23000 vs loss 725000 sales 206 mln vs 185 mln avg shrs 3959011 vs 2608571
brazil with about 108 billion dlrs in debt shocked banks late last month when it stopped interest payments on 68 billion dlrs owed to them until it can work out its problems
there was no indication of measures being taken against the mine which is in iranian territorial waters
with cotton more attractive price wise i think there is going to be a switch in acreage from soybeans to cotton
qtly div 15 cts vs 15 cts prior pay may 29 record march 31
bank of japan dollar purchases today were perhaps 12 to 15 billion dlrs
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
there was a real run on sterling said anne mills of shearson lehman brothers inc
puerto rican cement co prn sets payout
loynes added however the higher taxes are not expecetd to have a significant impact on earnings
market makers will be credit suisse first boston morgan stanley international and svenska handelsbanken plc
ctc a group of canadian tire dealers said it expected to know by may 11 if it would obtain approval to appeal a previously reported ontario court ruling upholding a regulatory decision to block ctcs offer
norways central bank reserves totalled 7371 billion crowns in may against 7606 billion in april and 9502 billion in may 1986 the central bank said in its monthly report
cable and wireless plc cawll is resisting attempts to merge two japan based telecommunications firms in the hope that overseas political pressure will force a change in those plans a company executive said
output was 483000 in 1985
soo line said in january it was seeking bids for the property
the package includes 540 mln dlrs of three month bonds and 117 billion dlrs of six month bonds
the agency said it envisages the repurchase agreements will normally be for a period of seven days
they said chirac promised that frances decision would be based on financial economic and technical criteria and not on political grounds
bankamerica bac puts brazil on non accrual
mutual had challenged the adequacy of the price
facilities being installed to protect the field include aircraft detection equipment anti aircraft missiles housing for military personnel and helicopter landing pads the sources said
stoltenberg said that everything had been carefully considered
shr 35 cts vs 40 cts net 2642000 vs 3017000 sales 191 mln vs 189 mln six mths shr 69 cts vs 70 cts net 5178000 vs 5299000 sales 356 mln vs 338 mln
bundesbank dealers could easily have said we are not selling any treasury bills or were not selling them in this amount he said
baltimore gas and electric bge files debt
this budget was incredibly bullish for the gilts market morgan grenfell and co ltd economist stephen bell said
a jefferies spokesman said the sec had asked for information a few months ago as part of an informal probe
but local businessmen have said won dollar parity has already reached a crisis level an official of the korea traders association kta said if the won strengthened another five pct this would mean the loss of profitability for nearly half of all south korean exporters
sunflower production is expected to total between 24 mln and 27 mln tonnes which would mean a drop of between 341 and 415 pct against the record 41 mln tonnes harvested in the 1985 86 harvest
morgan bank plans warrants for gold at 425 dlrs
a 600 mln franc tranche of 5000 franc bonds will carry interest of nine pct in the first year and then will have interest based on 90 pct of average bond market yields tmo with a guaranteed minimum of 55 pct
if approved the merger will add another 32 mln barrels to the companys reserve base
venezuelan president defends refinancing accord
the issue is non callable for two years
otherwise our response will be very negative the senior official said
dominion has said that it was looking for a takeover in the us last year dominion unsuccessfully bid for avondale mills and has maintained a 120 mln dlr line of credit to be used for a us acquisition
exports fell 64 pct to 72 billion marks in 1986 and competition from us and british firms increased
zico said the suit is totally without merit and vigorously intends to contest it
the company said it also approved an amendment to its articles of incorporation allowing class b shares to be coverted into class a shares at the option of the holder
messidor said the acquisition is expected to be completed by june three
this compares with the banks downward revised estimate of the shortfall in the system today of around 700 mln stg
most of the mills are old and inefficient with many of them using soviet equipment imported in the 1950s he said
valley federal vfed splits stock two for one
the eliminations caused losses of three mln dlrs compared to six mln dlrs in the year
payment date is april 1 denominations are of 1000 and 10000 dlrs and listing is in luxembourg
international lpg prices were little changed in the past week barely affected by the excitement on the advent of opecs mid year meeting traders and industry sources said
shr three cts vs four cts net 101376 vs 125922 revs 568884 vs 494227
federated finl savings fedf initial payout
pratt recently made an apparently unsuccessful bid to acquire control of resorts international inc rtb seeming to lose out to donald trump
most recently when prices of perpetual floating rates notes frns suddenly plunged most market makers abandoned the securities altogether leaving investors stuck with about 17 billion dlrs worth of unmarketable securities on their books
terms were not disclosed and the galaxy did not identify the buyer
prices fell steeply when the danish bond market opened but recovered somewhat after the central bank cut the overnight money market lending rate to 105 pct from 11 pct
magma copper co a subsidiary of newmont mining corp said it is lowering its copper cathode price by 025 cent to 6550 cents a lb effective immediately
but these credits cannot be approved until the export credit agencies agree to resume insuring the debts
that is why i have refused to continue subsidising them in the way that we have done in the past he said
weather forecasts say winds may ease during the weekend but a further drop in temperature could bring shipping to a standstill the officials said
it also looks for 1987 full year fully diluted earnings to be about 20 pct higher than the record 431 dlrs a share reported for 1986
stone container establishes one billion dlr bank credit facility
no clear evidence trade gap reversed volcker
sekisui chemical issues equity warrant eurobond
federal industries launches eurobond issue
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
sprinkel said cutting the budget deficit was the best way to lower the trade deficit
in the medium term non opec production would reach a plateau in the early 1990s leaving opec much stronger he said
white house unit decides on semiconductors
borg warner corp said its directors approved the sale for about 240 mln dlrs of its industrial products division to a new york based private investment firm clayton and dubilier inc and senior management of the group
other operators claimed they had palm oil booked for indonesia but would not disclose tonnages
new zealand to repay up to 600 mln dlrs of debt
shr profit 70 cts vs loss 33 cts net profit 2598000 vs loss 687000 revs 7438000 vs 6467000 note 1986 net includes 2168000 dlrs or 61 cts a share for gain on cancellation of long term debt through a debenture offer
photronics corp phot year feb 28 net
ice unchanged at soviet oil port of ventspils
dayton hudson corp dh votes quarterly payout
the council said in the past most canadians have shied away from the notion of a free trade arrangement fearing to be overwhelmed economically and politically by a closer association with a country 10 times their size in population but at the same time it added canadians realized their domestic market was too small to permit the mass production and sales needed to raise productivity to the level demanded by an increasingly competitive world
the world bank is issuing a multicurrency financing package totalling 232 mln us dlrs coordinator dg bank deutsche genossenschaftsbank said
wardair international ltd year net
qtly div 50 cts vs 50 cts prior pay may one record april 10
shr 186 dlrs vs 185 dlrs net 1923304 vs 1897998
hovnanian enterprises inc hov qtr earnings
iomega said the auditors state in their opinion letter that both actions are in the early stages of discovery and the likely outcome can not be determined at this time
the dollar was sold anyway
the current quota agreement expires next march and beef quota negotiations are set to get underway this fall
the m 2 aggregate centred on a three month moving average rose year on year by four pct within a 1987 target range of four to six pct
the company also said santa cruz has advised it that it owns 247 pct of foothills outstanding common stock
the company also said it will continue in the medical development business as long as it is deemed to be advantageous
theyll take the hit this year but at least well be looking at an honest earnings picture barnes also said
annual inflation for 1987 was forecast at four to 45 pct by the national economic and development authority early this month
he said the second reason was political uncertainty caused by proposed spending plans of the opposition labour party
further upward pressure on the federal funds rate may come from window dressing demand as the japanese fiscal year ends on march 31
april 30 end oper shr 20 cts vs 19 cts oper net 4625000 vs 6781000 sales 2502 mln vs 1509 mln orders 3515 mln vs 1225 mln 1st half oper shr 29 cts vs 26 cts oper net 7453000 vs 120 mln sales 4411 mln vs 2556 mln orders 5766 mln vs 2211 mln backlog 8483 mln vs 4592 mln note prior year net excludes losses from discontinued operations of 329 mln dlrs in quarter and 357 mln dlrs in half
first oak brook fobbao 3rd qtr net
sri lanka gets usda approval for wheat price
proceeds will be used for general corporate purposes
the officials said it might be several days before reagan would act and his moves made public
shr loss 18 cts vs loss 361 dlrs net loss 5600000 vs loss 1002 mln revs 335 mln vs 223 mln avg units 309 mln vs 275 mln nine mths shr loss 22 cts vs loss 420 dlrs net loss 6800000 vs loss 1136 mln revs 973 mln vs 834 mln avg units 300 mln vs 268 mln note full name is sante fe energy partners lp
usair group inc said it seeking two billion dlrs in bank debt to complete its takeover of piedmont aviation inc pie and its pending acquisition of ps group incs pacific southwest airlines
the payment date is may 7 and the issue is available in denominations of 5000 dlrs
industrial production fell 07 pct in january much smaller than expected and is forecast by the government to rise 03 pct in february and 26 pct in march
renewed confidence in opecs ability to limit production helped us energy futures settle above yesterdays closing prices according to analysts
previously exchange rules required the first three limited months to move the limit in coffee and cocoa
he said the us currency could fall as low as 135 yen soon
the wholesale price index base 1980 was 1365 in february 1363 in january and 1392 in february last year
he said his offer has been extended based on the likely duration of the regulatory process
terms were not disclosed
but unlike many analysts he doubted the uk will go in
underwriter is loewen ondaatje mccutcheon and co ltd
six black miners have been killed and two injured in a rock fall three km underground at a south african gold mine the owners said on sunday
while the two ministers were meeting with bundesbank president karl otto poehl the central bank had also added money market liquidity repeatedly signalling it did not want a strong rise in the tender allocation rate on tuesday
south africa problems remain despite debt pact
timeplex inc said it completed its previously announced redemption of its 7 3 4 pct convertible subordinated debentures due 2008
this the medium term note program will be the platform for developing those assets he said
privately held investment firm dubin clark and co said it has signed a definitive agreement for an investment group it heads to acquire roberts consolidated industries from beecham group plc for 45 mln dlrs
all the imports come from the us he added
not only did bonds close above recent highs but they were also above the sideways pattern weve been in for the last three months also positive on a technical basis was the fact that the june bond contract held chart support early near 100 4 32 and that the rally occurred on heavy volume keefe said
it said the split if approved would take effect on may 20
mark iv said it also agreed at the meeting that if it decides to seek control of baird it would be through a negotiated merger or business combination or through a tender offer in which baird would have at least 24 hours notice
moodys investors service inc said it upgraded federal paper board co incs 290 mln dlrs of debt
it said last november that the drought reduced total national areas sown with paddy to some 825 mln hectares this year down from 884 mln a year ago
denmarks net official reserves rose to 60629 billion crowns in may from 48380 billion in april against 39481 billion in may 1986 the central bank said in its monthly balance sheet report
ppg industries ppg sees growth in 1987
before seasonal adjustment permits rose to 135500 in september from 128000 in august
the ministry said de mel asked the world bank to give sri lanka 65 billion rupees balance of payments support
malaysias national oil company petronas has advised the government to raise crude oil output to 540000 barrels a day bpd in 1988 from a current 500000 bpd a senior company official said
corrected ivory coast confirms presence at talks
at current vodka prices of 10 roubles a bottle it said this meant illicit alcohol consumption had reached the equivalent of 20 billion roubles a year or annual revenues from vodka sales before the may 1985 anti alchohol decree
but the two countries are likely to have less to agree on over the issue of trade where chirac is worried about a rise in protectionism in the us congress
dutch growth likely to slow jobless rise in 1987
the economics ministry commenting on the figures said gnp in the 1987 first quarter was also expected to be relatively weak
it said underwriters may include merrill lynch pierce fenner and smith inc salomon brothers inc dean witter reynolds inc or shearson lehman brothers inc
for example wheat grown in northern new south wales nsw might move more efficiently to brisbane in queensland than to sydney or newcastle in new south wales it said
heinz said margin requirements for index futures now six pct should be the same as for common stock and equities
indonesia plans to build palm oil terminal
denmarks wholesale price index fell 05 pct in february giving a year on year fall of 49 pct the national statistics office said
they said japanese trade houses sold up to three cargoes of thai sugar for relatively nearby delivery
us house panel sets international debt bill
the us merchandise trade deficit on a balance of payments basis was a record 3837 billion dlrs in the october to december fourth quarter the commerce department said
the offer will be of 345p cash for every wickes share
honduras seeking pl 480 vessels for bulk wheat
the wholesale brokering service will begin on or around april 20
penril further said director clifford l
the last trade deficit was a 428 mln shortfall in 1982
vw has said computer programs were erased and documents were faked in the alleged fraud in which it believes transactions intended to protect it against possible foreign currency losses were not completed
taiwan to tender for 450000 tonnes us corn
in st louis mercantile bancorp said its mercantile bank na was also raising its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
they have enormous internal growth plans that takes capital
moodys investors service inc said it may downgrade 12 billion dlrs of chrysler corp and unit debt due to the deal
olson said he is very pleased with the companys efforts so far to cut costs
however taking into accounts effects of the shift in exchange rates reserves actually fell in value by 19 billion
it also purchased three mln stg of treasury bills and two mln stg of local authority bills in band three at 9 3 4 pct
in addition the company said it will ask shareholders to approve proposals to merge the company into its main subsidiary reincorporate in delaware and change the companys name
the halt the first national strike by seamen in 25 years started on february 27 and union leaders said they would not return to work unless they got a 275 pct pay rise
we would anticipate that this year would be an improvement over last because we are stronger love said referring to texas commerces pending 119 billion dlr merger with chemical
nzi is an insurance company in new zealand
unitil corp utl 4th qtr net
it the bond market has not yet demonstrated that it can break out of its very low volatility said carroll mcentee and mcginley analyst denis karnosky
brazilian delegate lindenberg sette said that if quota negotiations were to resume the 10 mln bag shortfall brazil was willing to give up in early march if the producer proposal was accepted would no longer be on the table
allied said the statement covers 140 mln dlrs of senior subordinated discount debentures and 100 mln dlrs of subordinated debentures principal amounts with a proposed aggregate offering price of about 100 mln dlrs for each issue
atorino expects earnings of 355 dlrs per share this year up from 304 dlrs last year
economists said the trend may cause domestic investors to shift some funds from short to longer term paper
at that time wyly owned a potpourri of 13 different businesses only three of which were involved in computer software
but the department said the australian bureau of agricultural economics bae predicts wheat production will drop sharply from 178 mln tonnes in 1986 87 to 135 mln in 1989 90
cbc bancorp inc said it will be acquired by the memphis based union planters corp upcmo in a merger agreement
saarbruecken would be a suitable place for an announcement on this gesture to european unity as it is the capital of the saarland bordering france and was twice under french occupation this century
qtly div 34 cts vs 34 cts prior pay may 15 record april 24
this dependence on oil generated revenue distorts the countrys economic performance directly by acting as a disincentive to new exploration and indirectly by affecting trading competitiveness through high energy costs he said
speaking at a news conference on the third quarter results which were released earlier today odgers said the company faced heavy costs for installing new digital telephone systems in britain for three to five years
the disposal will bring argyll an extraordinary credit of some 84 mln stg
shr loss 164 dlrs vs loss 208 dlrs net loss 9761000 vs loss 10977000 revs 4409000 vs 2697000
french subsidiary union carbide france and west germanys linde ag lingf aga topped rival bids for the gases distribution group in may by raising its offer to 4410 francs from 4000 francs
the mine had been scheduled to close in 1989 after the 40 series stopes were mined but will now stay open until the deeper 50 and 60 series have played out probably in 1994
it holds reserves of about 176 mln barrels of crude oil and 39 billion cubic feet of natural gas
chicago rivet and machine co cvr 4th qtr net
excellent weather characterised by alternating periods of sunshine and rain has encouraged growth except in sardinia which was expected to lose a large part of its barley crop because of extreme dryness
iranian oil minister due in algeria on friday
decreased supplies will firm prices for crude oil but are not likely to change a growing dependence mcivor said
the european community ec expressed disquiet over protectionist moves in the united states to limit imports of textiles and said it would retaliate immediately if ec exports were hit
coffee export revenue for 1986 was 233 billion dlrs according to the bank
the planned agency could take over the states equity in current developments
qtr ended feb 28 oper shr loss one ct vs profit 12 cts oper net profit 3000 vs profit 218000 revs 120 mln vs 106 mln avg shrs 2421000 vs 1602000 nine mths oper shr profit 28 cts vs profit 24 cts oper net profit 639000 vs profit 500000 revs 346 mln vs 312 mln avg shrs 1928000 vs 1620000 note oper excludes tax credits of 180000 and 415000 for year ago qtr and nine mths
west germany is the netherlands largest single trading partner taking 28 pct of dutch exports and providing 26 pct of imports in the last quarter of 1986 central bureau of statistics figures show
westerbeke corp wtkb 1st qtr jan 31 loss
it is restricted to new offshore developments outside the southern basin and yet to gain annex b approval
continental air holders to get further payment
toll brothers inc said it declared a two for one split of its common stock and said it filed a registration statement with the securities and exchange commission for a proposed public offering of 5700000 shares of common as adjusted for the split
the soviets have not purchased wheat or soybeans in the fourth year of the agreement
what were doing is lowering the price to get more bulk cargo flowing through here a spokesman for the new york shipping association said
its board also withdrew a recommendation to accept a 65 dlrs a share cash offer from norfolk southern corp nsc in light of a competing revised bid from us air group inc u us air offer to buy 50 pct of the companys stock for 71 dlrs a share cash and the remaining for 73 dlrs a share of its stock
at the tenders depending on market conditions the bank injects liquidity into the market by buying up first category paper
given the economys fragility in many sectors the analysts agreed that there is almost no chance that the fed will choose to raise rather than lower interest rates when it next changes policy
the spokesman said some japanese companies were selling chips in europe and asia below stipulated prices but added it is only a matter of time before we solve this problem the eight month old pact aims to stop japan selling large quantities of chips at knock down prices to the united states and other countries and to increase us semiconductor sales in japan
qtly div eights cts vs eight cts prior pay april one record march 13
volvo 1986 result off slightly from 1985
asbestec industries asbs sets stock split
san diego gas sdo sees decision hurting net
regency cruises inc ship 4th qtr net
they have proved to the iranians that any further action will be met with a like for like response
citing limited subsidy funds and uncertainties about next years crops he said there are too many variables now
the bonds will be callable at 106 after five months and until april 28 1988 and thereafter at prices declining by one pct per annum until 1993 but only if the share price is 130 pct of the conversion price
the expanded 90 cent limit will remain in effect until the settling prices on both of the first two limited months has not moved by more than the normal 60 cent limit for other contracts in two successive trading sessions the csce said
national distillers said at the time it bought enron it would sell the spirits and wine businesses moving more into the chemical area
soybean cake and expellers 169 167 pellets 162 160 and meal 152 150 all for shipments through may
chrysler corps chrysler motors corp said its chrysler training corp non profit organization sold the name and assets of its motech auto mechanic and body shop schools to o e corp of troy mich
shr loss 207 dlrs vs profit 36 cts net loss 1088000 vs profit 187000 year shr loss 1223 dlrs vs profit 17 cts net loss 645000 vs profit 89000 note home federal savings and loan association of the rockies
time tl sinking fund debentures yield 884 pct
the bank of japan will tomorrow sell 1200 billion yen in bills from its holdings to help absorb a projected money market surplus of 2100 billion money market traders said
there could be a probable delay madrid declined to give more details or production and export figures saying the information could lead to speculation
the saudis have also offered to support members having difficulty in selling their oil analysts said
vietnam has ordered its army to grow more food to ease shortages and meet economic recovery goals set for 1990
1985 oper excludes loss from pension plan liquidation of 631000 and loss from discontinued operations of 1015000
guyanas arrears to the international monetary fund imf are now 70 mln dlrs and it would not be eligible for new loans in the near future greenidge told during the inter american development bank iadb annual meeting here
norwegian central bank reserves fall in may
the french cereals intervention board onic will tender wednesday for 20000 tonnes soft wheat for pakistan under the french food aid programme an onic official said
he said the system would be reintroduced after current talks with the world bank and the international monetary fund and he hoped would be backed by fresh foreign aid funds
also excludes extraordinary gain of one ct per share in fourth quarter 1985 and gain of one ct per share vs one ct in the full year period
cominco ltd said it expects to meet today with two of five united steelworkers of america locals on strike at its trail smelter and kimberley bc lead zinc mine a cominco spokesman said
the warrant exercise period is from april 15 1987 until march 17 1992
ohio edison oec sells 30 pct of nuclear interest
however he added a scandal at volkswagen ag vowgf vw over currency losses has nothing to do with the timing of the veba sale
they included a 458 pct increase in domestic orders to 157 billion marks
this would help agriculture because some its inefficient non productive segments would stop operating he said
offered on wednesday the 100 mln dlr issue had three price levels to attract a wide range of retail investors and small regional institutions said officers of pw korth and co inc and painewebber inc which shared bookrunning duties
the united states and canada the worlds two biggest trading partners with cross border shipments of about 150 billion dlrs a year opened free trade talks last june
this helped increase marketable supplies so farm level corn prices averaged about two dlrs per bushel somewhat lower than they would have otherwise
however douglas said the 1987 88 estimate is subject to uncertainties over the results of pre budget spending reviews and tax forecasts and over the effect the program of corporatising certain government departments will have on liquidity
the amount by which the rebate fell short of what producers claim is needed to obtain an equivalent price to that for sales into intervention remained at 087 ecus per 100 kilos they said
brown and sons inc absb to explore a possbile sale of the company
he told the national newspaper association youre going to see a reduction in the japanese trade surplus some of it this year but he said the reduction would be due principally to the exchange rate shifts since the plaza agreement and these shifts would take a long time to work their way through the system
financial ministers and central bankers of leading industrial nations reconvened here this afternoon
cri insured cii to set special distribution
awb calls for tighter wheat quality controls
repayments on the debt will be stretched out over 12 years with 8 1 2 years grace at 1 1 4 percentage points over the london interbank offered rate libor
blockbuster entertainment corp said it agreed to buy southern video a blockbuster licensee in san antonio
the newsletter gave the following figures for the progress of the harvest in the main producer states parana 40 pct mato grosso do sul 15 pct mato grosso five pct rio grande do sul two pct
m 1 a which is m 1 plus daily interest chequable and non personal deposits fell 7 mln dlrs to 7514 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposits fell 56 mln dlrs to 17754 billion dlrs
the media company said it currently has 40950000 common shares issued and outstanding and upon completion of the reverse split will have 1638000 shares outstanding
he speculated that someone in the same home improvement business might be able to offer a deal for stock that would top both the buyout proposal and bilzerians plan
for fiscal 1986 north american reported a net loss of 126900 dlrs on sales of 128 mln dlrs
the qtr and year 1986 includes charges of 1200000 and 5200000 respectively for restructuring costs and operating losses which were charged against the previously provided accruals for restructuring costs
also includes charges of 18 mln dlrs covering costs of workforce reductions relocation and chapter 11
damaging transport and electricity strikes over christmas and the new year partly blamed by the government for higher inflation had undermined the unions power and popularity he said
the board is due to meet in indonesia in june with a full council scheduled for september
this would be completed in may after which finance will be sought
booker plc bokll 1986 year
the seasonally adjusted jobless total rose however in march to 223 mln from 218 mln in february it added
for 1986 newmont reported net income of 742 mln dlrs
freedom federal operates 15 retail branch banks and had 1986 year end assets of about 733 mln dlrs
he said this coupon pass which adds permanent reserves to the banking system was for regular delivery tomorrow
lindberg co lindo 3rd qtr net
he said the total will be delivered in three shipments
shr profit 02 cts vs loss 22 cts net profit 2900 vs loss 43500 sales 1660000 vs 950000 year shr loss 30 cts vs loss 37 cts net loss 578900 vs 713300 sales 5112100 vs 3659600
analysts said that m 1 last month grew at a negative 13 pct annual rate compared with minus 07 pct for m 2 and actual positive growth of 10 pct annualized for m 3
that would leave the company with its profitable american air filter co unit
bank of japan intervenes soon after tokyo opening
bank of new england corp is offering 200 mln dlrs of subordinated capital notes due 1999 yielding 886 pct said lead manager morgan stanley and co inc
fishoil imports fell to 190600 from 265600 and exports to 56500 from 85500 tonnes
adsteam rights issue to raise 228 mln dlrs
the state owned capital of bimp comprises 251 mln shares
rexnord said it still plans to sell its process machinery division and mathews conveyor co as part of its planned program to divest five businesses with 200 mln dlrs in assets
but a consistently higher funds rates would suggest to many that the fed was fostering somewhat higher interest rates to help the dollar
they understood our position and we believe we remain within the spirit of the quota agreement he said
the arrests followed the appointment by the bank of italy of three commissioners to run carical temporarily following investigations revealing serious irregularities at the bank
it said it is committed to building its general provision for loan losses to at least 20 pct of total outstanding loans to troubled sovereign borrowers by the end of 1989
guinness peat has cash advance facility
the asian dollar market continued to expand in december with total assets and liabilities rising to 20060 billion us dlrs from 18854 billion in november and 15537 billion in december 1985 the monetary authority of singapore said
the magnitude of the damages caused by the earthquake is gigantic president leon febres cordero said after inspecting the damages in napo the hardest hit jungle province 100 miles from here
production should begin late in the year from the harvest platform in the santa maria basin offshore california the company said
commonwealth edison co cwe 12 months net
the improvement will be gradual and long lasting levy predicted
bomani called on the ico to convene another meeting within two months saying once tempers have cooled and delegations have had time to report back to their headquarters common sense will prevail
nickles and senator 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
completion of the sale and recent sales of substantially all the assets of the companys 50 pct owned affiliate gmw industries inc are expected to result in a net gain of about nine mln dlrs in the first quarter of 1987
gabelli said he fears that greenmail might be a motivation in the offer
proposed offerings recently filed with the sec
south africa will repay 13 pct of its frozen 13 billion dollar debt to foreign creditors over the next three years under an agreement reached today in london finance minister barend du plessis said
corrected american variety international inc 
qtly div 62 1 2 cts vs 62 1 2 cts previously pay april 30 record april seven
it is too early to comment because i havent seen the whole document yet but it would seem we are more pessimistic in some of our estimates a pierson economist said
house agriculture committee chairman kika de la garza has said the committee will consider the glickman proposal
revlon group agrees to merge with macandrews and forbes group for 2010 dlrs shr cash
the company said its reserves during the year fell to five mln barrels from 64 mln barrels of oil and to 601 bilion cubic feet of gas from 637 bcf
jacobs said the governments fiscal reserves are expected to total 32 billion dlrs by the end of the current fiscal year ending march 31
open interest also set new records last month in eurodollars at 29372 contracts in ft se 100 at 4898 and in short sterling interest rate futures at 19846 lots
the company purchased in march 1986 midsouth corp a regional railroad company in mississippi and louisiana which contributed sales of 395 mln dlrs and operating income of 163 mln dlrs during first nine months of operation
while expressing regret over americas decision to impose tariffs on imports of japanese electrical goods nakasone said tokyo was willing to send a high level official to washington to help settle the dispute
in light of a june 17 announcement from crazy eddie that chemical bank would no longer fund a 52 mln dlr credit facility with the company plus further declines in the price of its stock entertainment marketing and zinn said they are continuing to evaluate their alternatives with respect to their investment in crazy eddie stock
pitt des moines inc said it will acquire chicago steel corp in exchange for a portion of its stock
the company plans to sell the station to mca inc mca for 387 mln dlrs
at the end of 1986 agip canada reported proven and probable reserves of 42 mln barrels of crude oil and natural gas liquids and 227 billion cubic feet of natural gas
retail services employment rose 129000 in february compared to a gain of 117000 in january previously reported at 166000
itel corp said it obtained commitments from a syndicate of banks for a six year secured loan of about 325 mln dlrs and had separately filed registration statements for two public offerings for a total of 150 mln dlrs to fund its december 1986 acquisition of anixter bros inc it said one of the offerings will be a new 75 mln dlrs issue of convertible exchangeable series c preferred and the other will be a 75 mln dlr issue of seven year senior subordinated notes
1986 year net includes pretax gain 172 mln dlrs from sale of foreign subsidiary
net includes pretax loan loss provisions of 90000 dlrs vs 56250 dlrs and gain on sale of securities of 113432 dlrs vs 88946 dlrs
the cost of maintaining such a stock can be high and it will be a real messy business for the government and the trade if it ever occurs an industry source said
townson declined to specify when the talks might end
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
sales and end month stocks in tonnes were feb 87 jan 87 feb 86 sales 36557 38678 75687 stocks 53248 56620 127083
qtly div eight cts vs eight cts prior pay may 11 record april 24
erbynn is likely to present fleshed out details of the buffer stock rules proposal to the working group early tomorrow delegates said
crossland and the fslic executived an assistance agreement indemnifying crossland from certain losses that could occur in connection with westerns loan portfolio
tandem also won a major order from the bank of tokyo
i think we are progressing very well the first battle will take place next week when the full house ways and means committee considers an amendment by rep
their separate proposals some of them conflicting will be woven by house democratic leaders into a final trade bill for a vote by the full house in late april
buying will begin once the buffer stock manager has completed preparations traders said
frn trading seen returning to more normal patterns
march 31 1986 end shr loss seven cts vs loss 11 cts net loss 76888 vs profit 106885 revs 752234 vs 922036
the offer which has been approved by the auxton board and is to be followed by a merger at the same price is conditioned on receipt of a majority of auxtons voting stock on a fully diluted basis
the western industrialised nations have agreed reforms in rules by which they provide credit for exports to developing countries the organisation for economic cooperation and development said
canadas current account deficit widened to a seasonally adjusted 227 billion dlrs in the fourth quarter from a deficit of 194 billion dlrs in the third statistics canada said
manufacturing industry output fell one pct with output of basic products down three pct capital goods down one pct and food tobacco and alcohol production 1 1 2 pct lower
it will enable us to borrow something like 45 billion dlrs in the next five years he added
pegasus gold inc pgulf 4th qtr net
writing in the march issue of the cargill bulletin david rogers of cargills commodity marketing division cited a gradual rise in world wheat trade in recent months with a slow rise in wheat prices after recent historic lows
the facility is being arranged for bp international and bp north america in conjunction with the companys planned tender offer for the 45 pct of standard oil co it does not already own
drum ny site is expected to begin later this month and is scheduled for completion by early 1991 the company said
brazil declared last month a moratorium on payment of interest on its medium and long term debts
the company said the increase brings its posting for the us benchmark grade west texas intermediate to 1900 dlrs a barrel
the exchange said it raised spot march requirement to 130000 yen on contracts outstanding at march 13
our position is that we are not willing to discuss the problems of market prices at a time when traders are making threats one source said
borg warner bor corp facing an unwanted offer from gaf corp gaf agreed to a 423 billion dlr buyout offer from a company to be formed by merrill lynch capital partners inc borg warner and merrill said yesterday they entered a definitive merger agreement under which a subsidiary of the new company av holdings corp will begin a 4850 dlr per share cash tender offer today for 776 mln shares or 89 pct of borg warner common stock
earlier this week two us experts on the soviet union said gorbachev was likely to be ousted in three to four years if he continues his reform policies
a shareholder group led by far hills nj investor natalie koether said it raised its stake in computer memories inc to 573300 shares or 51 pct of the total outstanding from 542000 shares or 48 pct
bankamerica bac says it will make debt offer
uk banks should follow bank of england recommendations strengthening their balance sheets and making more provisions
there are doubts as to how much of this cocoa would be fit for export as shippers are now experiencing dificulties in obtaining bahia superior certificates
note div pay may 8
in 1986 shell sold 1474 mln tonnes of oil products against 1452 mln tonnes in 1985
metex corp said its chairman and chief executive officer alan cohen sold 78375 shares of metex common stock to metropolitan consolidated industries inc mony the company said the selling price was 1125 dlrs per share with an option for metropolitan consolidated industries to purchase up to 42750 shares more at the same price
uk money market given 120 mln stg late help
separately french prime minister jacques chirac in a visit earlier this week with president reagan sounded out the administration on a plan to funnel worldwide grain surpluses to the very poorest states
it also said it expects income from operations to be about breakeven for 1986 and the estimated loss for the year to be about the same as the writeoffs
diceon electronics inc said it has entered an agreement in principal to buy closely held symtron corp in a stock exchange transaction
champion international corp based in stamford conn said it will expand its mill in hinton alberta at a cost of about 285 mln canadian dlrs
vw has also said disclosed profits for 1986 will reach their 1985 level despite provisions of a possible 480 mln marks linked to the currency affair
the exchanges draft revision sets brokerage fee percentage rates in inverse proportion to the size of amounts transacted market sources said
six months to december 31 shr 88 cts vs 05 ct interim dividend 125 cts vs nil group net 95 mln ringgit vs 06 mln pre tax 11 mln vs 11 mln turnover 889 mln vs 708 mln note dividend pay may 15 register april 17
in my opinion it is significantly higher sergeyev who works at the economics institute of the soviet unions academy of sciences said
professor is owned by american sports president edward c
eximbank loans will carry the minimum interest rate allowed by the oecd rate schedule for the market and the term he said
viragen inc said it is sponsoring clinical studies of human leukocyte interferon alpha in the treatment of renal cell carcinoma and bladder cell carcinoma
midam sets trading at new cbt location march 30
howard b
csce alters rules on trading limits
the company said it also expects to spend 60 mln dlrs on its oil and gas activities this year adding internally generated funds are expected to provide 85 pct of this total
payment date is april 30
in addition british printing and communications corp headed by maxwell owns 95 mln dlrs face amount harcourt said
the bid from rhm rejected by the food and bakery group is worth about 270 mln stg
hk dealers say nakasone g 6 comment too late
coast savings and loan association said it is in talks with the federal savings and loan insurance corp on the acquisition of central savings and loan association of san diego
shr 77 cts vs 84 cts net 17 mln vs 19 mln sales 650 mln vs 614 mln
pointing to the reserves data lawson said we have been playing a very full part ourselves in meeting our commitments toward exchange rate stability as agreed in paris
steven bell chief economist at morgan grenfell securities said that corporate money has been flowing back into britain amid hopes of another conservative government after fears last autumn of a labour election victory sent it flooding out
the non callable bond is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
allegheny western energy algho ups payout
standard and poors corp said that general motors corps planned five billion dlr stock repurchase would not affect the carmakers debt ratings
twenty three pct of sudans total foreign debt is owed to members of the paris club the diplomats said
the foundation would also raise private funds and would donate 25 per cent of its money to combat aids in less developed countries
sri lanka needs the imf and world bank approval of the two facilities to clear the way for negotiations on requests for aid and loans from donor countries
president kenneth kaunda said at the time that he was suspending the auction system in view of the rapid devaluation and violent fluctations of the exchange rate which had resulted
the issue will be sold in denominations of 1000 and 10000 marks and listed in frankfurt
mccarthy and stone plc a public uk company which owns and operates retirement homes has signed a 100 mln stg multi option facility national westminster bank plc said as arranger
the governments austerity measures ban the sale of aviation fuel to foreign airliners on international routes and no fuel will be available for ships owned by foreign lines
dai ichi hotel swiss franc notes coupon cut
the minimum denomination is 1000 dlrs for notes and bonds aimed at individual investors and 10000 dlrs for the treasury bills which are directed at corporate investors
in february 1985 sudan announced a 48 pct devaluation of its pound against the dollar adjusting the official exchange rate to 25 pounds to the us currency
he said it was true some countries were strongly opposed but others were less so and others basically in favour
the world bank said it approved two loans to mexico totalling 205 mln dlrs to provide financial assistance to industrial companies and finance a project dealing with agricultural extension services
most of the fall in plantings was expected in western australia while state average yields would be assisted by growers sowing wheat on fallows and rest paddocks it said
the striking price was a partly paid 41 stg pct at which price bids were allotted 538 pct
security pacific bought the arizona bank with assets of four billion dlrs in the fourth quarter of 1986
bhpgm chairman designate john gough said it was a quality gold stock
he said the imf had disbursed 130 mln dlrs here and 20 mln dlrs are pending under the one year agreement that ends this month
greece seeking ec sugar next month at tender
rowe price associates with 22 billion dlrs in assets under management
the decline accelerated as producers who had sold very little metal at the higher levels became competitive sellers
1987 nine mths includes loss 1519000 dlrs or 11 cts per share from early extinguishment of debt
first union func acquisition approved
while the installations and automotive technology sector showed a sharp rise in orders energy and automation and communications orders were below the level achieved in the same period of 1985 86
the oils are soybean cottonseed sunflowerseed coconut rapeseed palmkernel and palm
harris cuts triad systems trsc stake to 18 pct
emerald made its initial public offering february 6
shr 21 cts vs 21 cts net 542119 vs 520668 sales 2035759 vs 1804350 1st half shr 38 cts vs 42 cts net 956228 vs 1038300 sales 3748357 vs 3482066
lennar said the debentures will continue to be traded over the counter
ginsberg who is chairman has been named president and chief executive officer and siegel has been named chief operating officer the company said
meanwhile economists warned that the federal funds rate will be subject to volatility in the weeks ahead due to the approach of quarter end and the mid april tax date
tokyo stock plunge could force easier money policy
the paper quoted industry officials as saying they would fix export prices on the basis of the world market stop smuggling and encourage producers to reduce exports
a three part 160 mln dlr offering of virginia housing development authority collateralized mortgage obligations was priced first boston corp said as a manager
sept 30 end shr profit 15 cts vs loss six cts net profit 901000 vs loss 368000 assets 115 billion vs 7738 mln
the courts ruling came in an appeal to the trade commissions decision filed by the pork producers council
calvet indicated last december he expected citroens 1986 profit to be between 250 and 500 million francs
in south eastern europe warm weather with some rainfall boosted beet development
utilicorp united inc said its utilco group subsidiary completed the purchase of a 38 pct interest in westwood energy properties limited partnership for about 10 mln dlrs
herrington said that before he disclosed what recommendations for tax benefits for the oil and gas industry he might make he would raise the matter with the white house economic policy committee to see if the proposals to increase oil production made good tax policy
accordingly we will dismiss the application
australia to produce silver and platinum coins
we have no knowledge of any major problems in our pacemakers or leads wallin said
french gross domestic product risks not reaching the two pct growth registered last year the council said in a report on first quarter 1987 economic activity without giving any specific forecasts
behind that is a huge implication for the rest of the energy issues out there in the stock market particularly those that are acquisition targets lazier said
its a yen problem more than anything else some dealers said a rising wave of trade protectionist sentiment in the us limits the extent to which the american authorities can endorse a stronger dollar against the yen
boeing said if less than 90 pct of argosystems shares are tendered but the purchase of all shares tendered along with the exercise of options it holds would give it over 90 pct of argosystems boeing may buy all shares tendered
corning glass works glw unit transfers stock
it said imports of sugar were 25165 tonnes down from 54000 but exports of rice rose to 71144 tonnes from 20000
royal bank of canadas ry small brazilian commercial bank subsidiary banco royal do canada brasil sa sees opportunities for its own growth with an expected substantial increase in brazilian exports to canada banco royal president michael brennan said
they have not done the right things at the right time he said and as a result earnings per share have steadily declined since 1984
shr 19 cts vs 13 cts net 166000 vs 118000 rev 32 mln vs 25 mln year shr 34 cts vs 30 cts net 303000 vs 269000 rev 108 mln vs 102 mln
dealers said there were widespread rumours that the us federal reserve telephoned some banks in new york to ask for quotes last wednesday and even intervened to sell the dollar when it rose to 187 marks
it is interesting to note that the first two asset backed deals of the year were done by commercial banks said anthony dub who heads first boston corps asset backed group
another 698000 dlrs of gain from sale sale has been treated as deferred income
funds are under upward pressure from settlement of recently sold two year notes and from a treasury tax and loan call on banks
honeywell chairman and chief executive officer edson spencer said the move is the last major step in honeywells restructuring
producers zinc stocks in organization for economic co operation and development oecd european countries rose to 159732 tonnes in january from 151171 in december and 127725 in january 1986 latest international lead and zinc study group ilzsg figures show
the french feed cereals research institute itcf forecast in mid april an average yield of 658 tonnes per hectare for soft wheat in 1987 88 compared with 56 tonnes in 1986 87 and the record high yield of 65 66 tonnes in 1984
shr loss four cts vs loss five cts net loss 527065 vs loss 1204080 revs 622470 vs 613205 year shr profit four cts vs loss 13 cts net profit 1099778 vs loss 3282478 revs 7579547 vs 6068254 note 1985 excludes loss from discontinued operations of four cts per share in the quarter and loss 10 cts in the year
the company said elex produces electrostatic precipitators used in air pollution control
cpc cpc to sell unit to hi port hipt 
cumulative meat purchases through march 27 total 376897330 lbs the department said
in queensland tmoc has extensive interests in the surat basin including the 100 pct owned and operated moonie oil field and 33 pct of the boxleigh gas field
rohm and haas co roh 3rd qtr net
shr profit 364 dlrs vs profit 164 dlrs net profit 541 mln vs profit 247 mln nine mths shr loss 1330 dlrs vs profit 511 dlrs net loss 178 billion vs profit 752 mln note net in nine mths 1987 vs 1986 includes provision for possible credit losses of 419 billion vs 132 billion
a unit has one par value note and one contingent payment obligation
bancroft bcv shareholders rebuke zico offer
the typical salaried employee has 733 mln yen in savings reflecting an annual average savings rate of 17 to 18 pct he said
but the united states wants to cut its trade deficit running at a record 1698 billion dlrs and is pressing others to import more from developing countries
the spot riyal was quietly firmer at 37495 98 to the dollar after quotes of 37500 03 yesterday
figures quoted in philippine pesos
siew said the talks starting on april 14 would cover us calls for taiwan to open its market to american products purchases of major us machinery and power plant equipment import tariff cuts and protection of intellectual property
so long as public sector wages are held down higher value added tax receipts resulting from rising prices should offset a loss in revenues that otherwise would result from slower than expected growth they said
media group john fairfax ltd ffxas said that its flat first half net profit partly reflected the impact of changes in the australian tax system
at a time when the world is attempting to liberalize trade in the new rounnd of multilateral negotiations it is incomprehensible that a country that stands to gain so much from the reduction in agricultural trade barriers would threaten that process by caving in to pressures for protectionism council president darwin e
net includes reversal of tax loss carryforwards of 259000 dlrs vs 264000 dlrs in quarter and tax loss carryforwards of 8635000 dlrs vs 579000 dlrs in year
coca cola bottling co consolidated said it terminated negotiations with the proposed purchaser of its wholly owned subsidiary headquartered in vancouver bc the company said it is vigorously continuing its efforts to sell its canadian operations substantially on the terms and conditions previously announced
money market operators were divided over whether the bank of france will use to occasion to cut its intervention rate which has stood at 7 3 4 pct since march 9
it said the court order prevents zico from buying any shares tendered to them during the offer which began on feb
looking ahead economists said the fed will have to tread a fine line between the dollars progress in the international currency markets and the development of the domestic economy
some analysts saw the wedge statement as a boost to peschs takeover effort and a further sign that there could be some shareholder dissatisfaction following american medicals previous rejection of a 20 dlr per share all cash offer from pesch
shr loss 24 cts vs loss 20 cts net loss 1718000 vs loss 1483000 sales 7266000 vs 6490000 year shr loss 183 dlrs vs loss 53 cts net loss 132 mln vs loss 3833000 sales 191 mln vs 295 mln note 1986 year net includes pretax realized loss on secureity transaction of 4124000 dlrs
snow cover is scant in poland with only about 50 pct of the winter wheat areas reporting one to two inches of snow as of this morning
growth in consumer spending in the united states will drop dramatically this year because the jump in inflation will cause a falloff in the growth of disposable income van dyke said
the offer for 100 pct of cote dor at 8050 belgian francs per ordinary share was agreed with the belgian firms board
thus ccc could own the equivalent of brazils entire soybean crop by the end of calendar year 1987 haggard said
nevertheless bond and stock markets remain to a large extent fragmented and lagging behind he said
in that case canada decided pasta imports which take about ten pct of the canadian market did not injure domestic producers
bank of nova scotia cuts prime rate to 8 3 4 pct from 9 1 4 pct effective tomorrow
the business is a manufacturer of high energy friction materials for heavy duty transmissions and clutches
quebecor inc pqba the canadian publishing concern is issuing a 60 mln dlr convertible bond due may 14 1997 bearing an indicated coupon of 5 3 4 to six pct said merrill lynch capital markets as lead manager
the employment and production data point to a big inventory build up but thats what we thought in the fourth quarter and we only got 13 pct gnp growth manufacturing employment gained 50000 after falling 15000 in january
ici spent just under one billion dlrs for acquisitions during 1986 the largest of which was the 580 mln dlr purchase of cleveland ohio based glidden inc a paints resins and coatings company from hanson trust plc ici financial director alan clements said the companys borrowing limits are at a level of about 63 billion sterling 15 billion of which have already been used
former gold firm executives arrested in japan
acklands ltd 1st qtr feb 28 net
the letter did not mention gencorps rko general broadcasting subsidiary which has been involved in disputes over license renewals at several of its television stations
emery said chemical bank bankers trust morgan guaranty trust co and salomon bros had agreed to provide financing for the tender offer
economists generally expect a modest pickup in monetary growth in march after februarys anemic growth rates
dutch trade sources gave the same figure for france but estimated up to 110000 tonnes offered by german traders and producers
us m 1 money supply falls 600 mln dlrs
china has to decide if it will increase sugar imports this year to cover falling domestic output and rising demand in view of market predictions that international sugar prices will remain firm this year traders and the official press said
utilicorp signed an agreement with cominco ltd of vancouver to extend the deadline to may 31 1987 for completion of the companys purchase of west kootenay power and light of british columbia due to a longer than expected regulatory approval process he said
an aide to glickman said that it will probably be introduced next week
world bank to bring borrowing forward this year
allied legal advisor and director george kern who heads the merger and acquisitions group at the new york law firm of sullivan and cromwell decided against amending allieds sec filing to disclose the talks even though they had resulted in sales price of 405 mln dlrs for the shopping centers it said
qtly div 43 cts vs 38 cts prior pay may 15 record april 30
the company has scaled back its sales forecast to about 25 mln dlrs from the 335 mln dlrs projected in december
saudi arabia allowed its output to sink as low as two mln bpd in august 1985 to compensate for slack demand and over production by some opec states
oper shr 31 cts vs 34 cts oper net 3005000 vs 2835000 revs 131 mln vs 9478000 year oper shr 149 dlrs vs 115 dlrs oper net 287 mln vs 169 mln revs 478 mln vs 320 mln note oper net excludes loss from discontinued operations of 726000 dlrs vs gain of 737000 dlrs for qtr and gain of 581000 dlrs vs gain of 2350000 dlrs for year
the rescheduling is over 10 years with five years grace and carries an interest margin of 1 2 pct over libor
it said personal computer now has 26 franchised locations and plans to add over 30 in 1987 seeking eventually to expand into 420 markets in the us and abroad
horizon industries inc hrzn 2nd qtr net
under current law disclosure may be made as late as ten days after exceeding the five pct limit
mgm ua communications mgm 2nd qtr feb 28 loss
the paris agreement was aimed at stopping a further rapid fluctuation of exchange rates he said
the company said the restructuring moves had improved its balance sheet and improved the outlook for future stability and growth in earnings
growth in oil consumption in the western industrialised countries is likely to slow to around one pct this year compared with 23 pct in 1986 the international energy agency iea said
ussr crop weather summary usda noaa
german trade current account data due today
it said mobil bought 73 mln dlrs of crude oil and oil products from china in 1986 and sold it lubricant and fertiliser but gave no more details
mdc asset investors inc which recently went public said its board declared an initial quarterly dividend of 45 cts per share payable april 15 to holders of record april one
a group of firms led by gabelli group inc told government regulators it holds a 285 pct stake in digiorgio corp common stock and said two partnerships making up part of the group may seek control of the company
this compared with a slim 01 pct rise in januarys production number previously reported as a 04 pct increase
this compares with a 33 mln dlr deficit revised from 17 mln in january and a 361 mln dlr deficit in february 1986
it cited toods report of significant and unanticipated losses on a commercial contract and continuing uncertainty over the us navys ddg 51 destroyer program which moodys termed an important business for todds viability
cxr telcom corp and torotel inc agreed in principle to settle pending litigation regarding the sale of torotels former halcyon communications inc unit to cxr in march 1986 the two companies said in a joint statement
shr 71 cts vs 47 cts net 121 mln vs 78 mln revs 3698 mln vs 3079 mln 12 mths shr 235 dlrs vs 233 dlrs net 395 mln vs 39 mln revs 136 billion vs 124 billion note prior year restated to reflect results from current year acquisitions
it said preliminary results are encouraging and a feasibility study is nearing completion
australia sells bonds in two tranches
praising the role of multinational companies and local entrepreneurs in kenyas economy the minister promised to maintain a close working contact with the private sector
darman said such negotiations with newly industrialized countries were underway privately
that is quicker than some recent fixed rate new zealand dollar note issues he said
we have to discuss the foreign debt like mexico does if necessary going to the imf mario amato president of the sao paulo state industries federation was quoted as saying
feldstein said he believed current third world debt problems were less serious than those faced by the international monetary system in 1983 and 1985
mitsui and co ltd said it has signed a letter of intent with security pacific corp to buy 50 pct of japan security pacific finance co ltd for an undisclosed sum to form a joint venture
anything else would be more than a surprise one said
tbg formerly known as thyssen bornemisza group reports in dlrs since december 1 1984 the start of the 1985 financial year
however hernandez stressed that the government had managed to keep gasoline sales almost constant at 164000 bpd
interconnect offers to buy gates learjet glj 
1986 net includes 17 mln dlr credit
nazer said saudi arabia would continue to produce below its 4133 mln bpd quota if necessary to defend the 18 dlr price
that pact in turn followed the international monetary fund imf s approval on march 5 of a 85 mln special drawing rights standby arrangement and a 409 mln sdr drawing under the compensatory financing facility
spain cargo firms hire dockers to offset strike
the official said it was encouraging that japan had agreed not to reduce ore imports from india although japans total iron ore imports would be lower in the coming year because of the recession in the japanese steel industry
horizon corp hzn 4th qtr net
irving bank corp said it bought the factoring division of associates commercial corp a unit of gulf and western co incs associates corp of north america
it said morgan stanley and co inc acted as placement agent
it said the securities are available in denominations of 5000 dlrs for a term of slightly less than five years
rayrock yellowknife resources inc said it plans to sell 24 mln dlrs of convertible subordinated notes by way of a private placement through first marathon securities ltd
this year we have a crop of 35 mln bags we have economic problems and we are not in a position to do favours
gateway said the acquired company has contracts with 102 dentists in 144 locations
bear stearns would not comment on buyers or sellers
to ease its internal debt burden the government has reduced the budgetary support to development investment in about 120 public sector companies to 6992 billion rupees in 1987 88 from 7792 billion a year earlier official figures show
asamera said its talks with breakwater resources ltd bwrlf on a possible merger of mining interests including the cannon mine have been terminated
the office said that according to estimates for february 257 mln people were in work a rise of around 240000 or 09 pct compared with the same month in 1986
he said 18 to 19 billion dlrs were eliminated by one time measures such as a temporary increase in taxes related to tax reform and sales of government assets
the bond will be priced at 99515 to yield 7585 pct
the loan will be the banks first untied loan to an asian country in co financing with the world bank but it will not be tied to purchase of japanese goods or services he said
it said the exact amnount of the charge will depend on the extent of recovery of the leased equipment involved and on arrangements that might be made with the bankruptcy court on the equipment
european community countries were the main destinations for dutch soymeal exports with 102355 tonnes compared with 124026 in december and 116080 in january 1986
canada and the united states agreed last december to the 15 pct charge ending a lengthy trade dispute over alleged canadian subsidies to canadas softwood exporters
comdata said rosewood financial inc together with cypress partners lp and driftwood ltd have acquired over five pct of comdata stock and rosewood intends to acquire over 15 pct of comdata
we are quite confident however that in the long term with two thirds of the worlds reserves in opec hands the future is ours
the lower dollar ought to have made us exports 40 pct more competitive in japan
however if the stock price rises to more than 130 pct of the conversion level the issue will be callable immediately csfb said
international game technology igam offering of 35 mln dlrs of senior notes due 1995 and 25 mln dlrs of convertible senior subordinated deberntures due 2002 through drexel burnham lambert inc
the big number is the 767 mln dlrs in debt assumption analyst jack kirnan of kidder peabody and co told 
argentinas creditors said divided over debt issue
other factors supporting this bullish view were growing expectations that federal reserve chairman paul volcker would be reappointed for a third four year term in august japans larger than expected economic stimulus package last week and more favorably technical chart signals analysts said
but he said in an interview that financial markets also understood that all six countries concluded that the measures to be taken over a period of time in the future should foster stability of exchange rates around current levels
washington national corp wnt votes dividend
pay date is april 6
centerre bancorp said it completed the acquisition of benefit plan services inc maryland heights mo which specializes in designing and administering small and moderately sized pension plans
economists said energy prices the driving force behind the january rise rose more moderately last month while food prices declined
ecuador may be unable to export oil for up to five months due to extensive damage to a 25 mile stretch of pipeline linking jungle oilfields to the pacific port of balao
finance ministry officials blamed last months slower import growth on a decline in oil imports as refiners worked off stocks they had built up in january
citibank said its reduction reflected the decline
china development finance co hk ltd a bank of china unit is lead manager of the issue
the other offering will be 75 mln dlrs of convertible subordinated debentures due 2012
excludes 1987 qtr 1694000 operating loss carryforwards vs 78000 qtr prior
this included eight to nine mln dlrs in immediate costs with the rest being spent on earth moving operations to prevent any further landslides
a western banker said the us market has become more attractive to china since it is likely to issue bonds denominated in currencies other than yen and so protect itself against future currency fluctuations
no fees were disclosed
michigan general corp said it agreed to sell substantially all of the assets and certain liabilities of its krestmark subsidiaries to lcb holdings inc for 65 mln dlrs cash
in a separate operation financiere robur is issuing a 14773 mln french franc eight year bond with a six pct coupon denominated in 1100 franc units and priced at par
it is a global negotiation with no two tracks no fast track no slow track
the government however does not want to accelerate reducing the debt by making an excessive trade surplus he said
two pct emerged vs 45 y a and 23 avg
deutsche bank ag joint chief executive friedrich wilhelm christians said he believed the louvre accord on currency stability was still intact
lone star said three of the terminals are located in alaska one in seattle and the other in portland ore
rumors continue to swirl around its stock
sweden issues seven year domestic bond
fed sets two day system repurchases
the package also includes two contingency facilities totalling 17 billion dlrs
the company in a detailed report estimated the harvest as high as 83 mln tonnes and said if this forecast is met the ostensible surplus for export will be approximately 225 mln tonnes
philadelphia electric co is raising 250 mln dlrs via an offering of first and refunding mortgage bonds due 2017 yielding 940 pct said lead manager morgan stanley and co inc
gencorp gy group to seek anti greenmail vote
the embassy estimated indonesias calendar 1986 raw sugar production at 18 mln tonnes against a government estimate of 199 mln
at the moment commercial paper is a cheaper form of credit than the traditional kasgeldleningen said amsterdams financial alderman walter etty after signing the contract
januarys sales were 282 billion dlrs or 07 pct below the january 1986 level of 43156 billion dlrs
the lanston economists said the fed cannot ease its policy stance to both foster more rapid economic growth and calm domestic and third world debt jitters without the threat of causing a further decline in the dollar minutes of februarys federal open market committee fomc meeting released friday showed that while the fomc left policy unchanged it was more inclined to firm rather than ease policy later if conditions in the economy foreign exchange or credit markets warranted a policy shift
peterson purittan is a contract packager of personal care and household products
the banks bill buying operation also had little impact because it was regarded as a routine operation they said
for the time being we will have to focus our policy more on the external side and we can live with a more expansionary money supply
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in luxembourg
chemical bank the main bank subsidiary of chemical new york corp and marine midland banks inc said they were raising the prime lending rate to 7 3 4 pct from 7 1 2 pct effective immediately
if the inter monsoonal rains expected in late march april are delayed we would have further shortages one official said
jacobs suchard ag jaczz hopes for another excellent year in 1987 after a 27 pct increase in 1986 net profit
yulo said three major philippine distilleries were ready to start manufacturing ethanol if the project was approved
a miti spokesman said his ministry had asked chipmakers to issue certificates to specified trading houses stating they are authorised exporters
shr 47 cts vs 40 cts net 4399000 vs 3768000 sales 766 mln vs 680 mln year shr 179 dlrs vs 184 dlrs net 16701000 vs 17159000 sales 2917 mln vs 2691 mln note fiscal 1987 year based on 53 weeks compared wqith 52 weeks a year earlier
after several meetings brazil and the us have made no major progress in their computer row which they have been trying to resolve for the past 18 months
brenton banks brbko 3rd qtr oper net
armatron art negotiates new credit line
each warrant will be exercisable after april 30 at 750 dlrs a share the company added
in addition keller said the company is selling more of its expensive model cars which are more profitable
for the nine weeks ended april four sears merchandise group sales rose 45 pct to 446 billion dlrs from 427 billion dlrs in the same 1986 period
the cut off date is completely artificial
the bank has said its business last year suffered from the turbulence around the troubled trade union owned housing concern neue heimat
he said the two sides narrowly avoided a confrontation earlier this year over lost grains sales when spain and portugal joined the community and its liberal imports regulations were tightened to conform to ec standards
on march 17 harcourt said three of its officers met with harpers financial advisor but has had no discussions since then
stone container said shareholders also have the right to convert any or all of the debt into common shares at the conversion price of 56 dlrs a common share or about 17857 shares for each 1000 dlrs of debentures and 893 shares for each series c share
p goenka president of the federation of indian chambers of commerce and industry
the bank of japan has already purchased more than one billion dlrs in intervention since the opening and continues to buy the us currency dealers said
but he said the gatt round is a long term endeavour
proposed offerings recently filed with the sec
ncr earlier said first quarter profit increased to 615 mln dlrs or 65 cts share from 502 mln dlrs or 51 cts share in the prior year
uk money market given 689 mln stg early help
i think i would not support a marketing loan now he told the house agriculture subcommittee on wheat soybeans and feedgrains
pressure on tokyo stepped up last week when uk government sources said britain may revoke the licences of some japanese banks and securities firms operating in london when they come up for renewal if progress is not made towards opening japans markets to foreign competition
us canadian ties could worsen if the two nations are unable to reach a free trade pact according to a study published by two nonpartisan public policy research groups
i dont know if usda is really very serious about addressing the soybean loan problem he said
the prices will remain in effect for a week but new prices could be announced earlier if warranted usda said
i would like to stress that the bundesbank has no interest in higher capital market rates he said
avatar holdings avtr offering rights to notes
guinness starts court action against saunders
the japanese finance ministry is expected to approve the deal in april making nippon life the first japanese life insurance firm to take a stake in a us financial firm
wpp group plc said it is extending its 5050 dlrs a share offer for jwt group inc until midday june 22
the operation will put outstanding bill supplies at about 2500 billion yen
period ended jan 31 oper shr loss 66 cts vs loss 129 dlrs oper net loss 1309000 vs loss 2522000 sales 251 mln vs 199 mln year oper shr loss 65 cts vs loss 97 cts oper net loss 1287000 vs loss 1882000 sales 1134 mln vs 766 mln note earnings exclude a loss on sale of discontinued operations of 17000 dlrs or one ct a share vs a gain of 1383000 dlrs or 70 cts a share in the quarter and gains of 300000 dlrs or 15 cts a share vs 1941000 dlrs or 100 dlr a share for the year
tokheim tok sees improving sales in 1987
brazil coffee exports disrupted by strike
westpac banking corp wstps said it is cutting its indicator lending rate to 22 pct from 23 pct effective from june 15
mco mco maxxam mxm holders approve merger
denominations are of 5000 francs
morgan had earlier attempted but abandoned another plan to repackage the westpac securities
the government is also studying a recommendation from the farm animal welfare council fawc to restrict the trade of calves under 56 days old through markets
bradford is recommending sale of usx shares
loss 756 mln gross sales 593 billion vs
also issued today was a 40 mln dlr five year offering from toshiba international finance netherlands carrying a 7 3 8 pct coupon and priced at 101 1 2
no action has been taken yet on the reagan adminstrations offer to escort kuwaiti oil tankers through the gulf but the issue is being discussed us secretary of defence caspar weinberger said
goodyear gt to receive 588 mln dlrs for unit
he said however that larger acquisitions are possible if they are the right fit
canadian oil exports rose 20 pct in 1986 over the previous year to 3396 mln cubic meters while oil imports soared 252 pct to 2058 mln cubic meters statistics canada said
loh said the stock exchange of singapore might expand equity issues by as much as one billion dlrs this year because of the increasing ability of foreign and local market participants to absorb new issues
however in addition to the scheduled delivery payment of 1410 dlrs an additional sum of 235 dlrs or 10 pct of the forecast price would be paid on december 15 on all cane harvested by november 30 he said
we have determined to dismiss twas application for approval of the acquisition of usair it said in an order issued late friday
however it added its belief that it was premature to decide at this time whether to reclassify the loans
james voytko at paine webber believes santa fe could fight off the henley group with its cash and credit
1987 nine mths net includes after tax gain of 73 mln dlrs or 42 cts a share on sale of remaining interest in the henley group inc and other related transactions which was partly offset by an after tax loss of 30 mln dlrs ot 17 cts a share for repurchase of high coupon bonds
american express co said its board approved a public offering of about 18 pct of its wholly owned shearson lehman brothers inc brokerage unit
aristech also said it will expand bisphenol a and phenol production at its haverhill ohio plant
nbc news said it understood six iranians had been pulled from the sea
shr 204 dlrs vs 183 dlrs net 76172000 vs 71101000 revs 6217 mln vs 6703 mln note central illinois public service co is full name of company
ecuador had also publicly stated it was over its quota but an earthquake early this month stopped that
the tokyo yen bond market is likely to stabilise in one or two weeks which is what investors have been waiting for
so we dont know if any of the swap arrangements will really stand up in court said one bank official
proceeds from the offering will be used to build and equip enlarged broadcast and order processing facilities to redeem some of the companys 11 3 4 pct senior notes due oct 15 1996 and for general corporate purposes the company said
a bundesbank capital markets expert said the bundesbank has no objections to hedging through futures but any liberalization in that sector is still in the early planning stages after earlier talks ended two years ago
the stock exchange noted however that turnover between bond market makers through the inter dealer broker idb screen system as distinct from business with outside clients has only been included from october 1986 meaning that prior data is not strictly comparable with recent figures
the city of west berlin owns 74 pct of berliner bank and the rest is held by small shareholders
nazer in an interview with and the television news agency visnews said saudi arabia was producing around three mln barrels per day bpd of crude oil well below its opec quota
member states of the european community are starting to run out of patience with japan which they believe has repeatedly promised major initiatives to open its market to imports but as often made only minor moves
the offer will expire 1700 new york time april 1 1987 unless extended
new zealand will repay a portion of its 4248 billion nz dlr public debt for the first time since 1952 as a result of a 379 mln nz dlr budget surplus for fiscal march 1988 finance minister roger douglas said
the company had 165 mln shares outstanding prior to the offering
under the new rescheduling agreement reached february 27 payments on venezuelas public debt were extended from 12 to 14 years and the interest rate dropped from 1 and 1 8 to 7 8 of a pct above libor
goodyear tire and rubber co said it will receive about 588 mln dlrs in cash from loral corp lor for the business of goodyear aerospace corp
crs sirrine plans major restructuring write off of up 43 mln dlrs
westerns president christopher j
the company also said that upon completion of the exchange offer it may issue warrants to buy 100 mln shares of common stock to current shareholders and warrants for 75 mln shares to employees
jorge cardenas manager of colombias coffee growers federation said he did not believe any important decisions would emerge from an upcoming meeting of the international coffee organization ico the ico executive board is set to meet in london from march 31 and could decide to call a special council session by the end of april to discuss export quotas
for the fourth quarter the company reported profits rose 10 pct to 117 mln dlrs or 178 dlrs per share compared with 1985 fourth quarter results of 106 mln or 164 dlrs per share
western savings and loan wsl 4th qtr loss
a group of firms led by hong kong based industrial equity pacific ltd said it increased its stake in smith international inc common stock to 3997100 shares or 175 pct of the total outstanding from about 149 pct
a bank of spain spokesman qualified a bank statement announcing an extension of reserve requirements to convertible peseta funds held by banks saying the move applied only to future rises above current balances
den danske bank of denmark is raising 200 mln dlrs through a programme of short and medium term euro certificates of deposit arranger london based salomon brothers international ltd said in a statement received here
last year france provided its former indian ocean colony with a structural adjustment loan of 160 mln francs
the pound hit by the inability of lebanons religiously and ideologically divided government to end 12 years of civil war has lost more than 80 pct of its international value this year
capitol bancorp capb to restate net to loss
pennzoil co said it had not yet received any meaningful settlement offer from texaco inc but added that the company remained willing to consider proposals to settle the 102 billion dlr jury judgment it won against texaco
however the us said it would reexamine the issue if by mid 1987 japan did not roll back import barriers to us rice exports
an official representing a large grain trade company said deliberations within usda might be nudged along by members of congress a number of whom urged usda this week to make a wheat subsidy offer to the soviets
ec 1986 87 coarse grain production is projected at 8122 mln tonnes vs 8119 mln tonnes last month
a 25 pct share in sabena would be sold in mid 1989 for 15 billion francs while 50 pct of the postal and telecommunications authority would be sold off in two stages in mid 1990 and early 1992 raising at least seven billion francs
murray said in announcing the first reorganization which will combine its current three exploration and producing affiliates into one organization mobil exploration and production us inc that it is more effective than the present organization and will improve the companys upstream competitive position
japan does not intend to cut discount rate sumita
bp earlier today said its us unit planned to tender at 70 dlrs per share for the 45 pct of standard it does not already own
partially because of this improvement us export volume is expected to rise in fiscal 1987 for the frist time in seven years the department said
the redemption resulted in the issuance of 2685142 shares of the companys common stock western digital said
earnings per 20 crown share went from 2379 crowns to 2045 crowns but the company proposed an unchanged 20 pct dividend
global petroleum corp said it had raised the contract prices for heavy fuel oil from 25 cts to one dlr per barrel effective today
following meetings with house agriculture committee chairman kika de la garza d tex and senate agriculture committee chairman patrick leahy d vt the groups issued a statement saying lawmakers should resist efforts to overhaul the 15 month old law which is operating in its first crop marketing year the farm groups included the american farm bureau federation american soybean association national cattlemens association national corn growers association national cotton council national pork producers council and the us rice producers legislative group
the non callable issue is of unsecured unsubordinated debt
on the other hand the report noted consumer prices for industrial goods and private services have been rising steeply as companies built up their profits
reached later a bankamerica spokesman said the company would record a pretax gain of 45 mln dlrs from the transactions
telecom said in a statement that it will offer 125 pct march 1990 bonds and 130 pct february 1993 stock
qtly div six cts vs six cts prior pay april 23 record april nine
dnc international finance as is issuing a 10 billion yen eurobond due april 7 1994 with a five pct coupon and priced at 102 3 8 pct yamaichi international europe ltd said as joint book runner with tokai international ltd
the bank of france said it sold a total of 1105 billion francs of treasury tap stock in an issue of two fixed rate tranches and one variable rate tranche
the 4699 pct owned elders ixl ltd elxas offshoot announced the issue at 250 dlrs each with its first half results statement
kaczurba told the official pap news agency recently making up our lost position will take a long time and be uncommonly difficult and in certain cases impossible in a period of two to three years it will be possible to increase the level of exports by only about 100 mln dlrs while poland is unlikely to seek compensation it says it has a moral right to assistance from the us which it says imposed the sanctions illegally
warehouse club wclb to take charge
there are also reports from australia canada and argentina that plantings have been reduced he said
the bank said sterling bank lending grew by a non seasonally adjusted 175 billion stg in january
the company also reached agreements in principle for an 81 mln dlr settlement of class action law suits
an iowa state university study showed pork contains considerably less fat than indicated by long established us department of agriculture statistics the national pork producers council nppc said
giant bay said if its bioleaching technology is used for ore processing it will have the right to acquire a working interest in the property
analysts generally average the sales results of march and april to account for the variation of easters occurance
goldner the owner of pagex systems inc which is also engaged in the direct marketing computer service business
eyskens has repeatedly said that europe needs a period of calm on world currency markets and in particular a more stable dollar before it can set about strengthening the ems to make it more resilient against exchange rate swings
guinness shares were trading at 323p after the announcement after closing yesterday at 317p
the unit makes a device that prints data directly from a computer onto microfilm
but one banking source though confirming that most of the details had been worked out said the chances of an announcement today were about nil
he said his only two recommendations currently among new york banks are jp morgan and co ltjpm and bankers trust co bt which happen to have the least exposure
the move is in part an attempt to force japan to open its domestic market to more us supercomputer sales they said
stryker corp said it acquired hexcel medical corp a wholly owned subsidiary of hexcel corp
enquiries for july sep 15 raw sugars then filtered in and here again traded values rose quickly from 13 points premium to new york july up to 18 woodhouse said
stanwood corp snw 4th qtr jan 3
pakistan announced a new tea import policy saying 70 pct of imports will in future be made through the state trading corporation of pakistan tcp commerce minister mahbubul haq said in a television broadcast that no more than one third of the remaining 30 pct allocated to the private sector would be permitted to come from any one country
in london traders expressed surprise that no more than 21000 tonnes cocoa has been bought so far against total potential purchases under the new agreement of 150000 tonnes
the netherlands is at present the biggest importer of indonesian cocoa beans
the bank of japan has been trying to dampen money market rates to make the latest discount rate cut effective but so far in vain dealers said
shr loss two cts vs loss four cts net loss 44000 vs loss 85000 sales 370000 vs 299000 nine mths shr loss seven cts vs loss three cts net loss 134000 vs loss 56000 sales 1211000 vs 1069000 note prior nine mths net includes 10000 dlr loss on sale of marketable securities
west germanys current account surplus the target of considerable criticism by the reagan administration is expected to rise slightly to 37 billion dlrs this year from 358 billion in 1986 before declining to 29 billion dlrs in 1988
gpu said its auditors coopers and lybrand again qualified its opinion of gpus financial statements adding the recovery of tmi 2 decommissioning costs to the unresolved issues leading to the qualified opinion
shr 12 cts vs 15 cts net 282000 vs 360000 revs 5261000 vs 5348000 avg shrs 2336000 vs 2335000 year shr 91 cts vs 104 dlrs net 2149000 vs 2075000 revs 282 mln vs 283 mln avg shrs 2356000 vs 2001000 note 1986 quarter net includes 72000 dlr charge from repal of investment tax credit
k o p equity warrant bond expected to be swapped
computer research inc core 2nd qtr feb 28 net
the commodity credit corporation ccc has accepted a bid for an export bonus to cover a sale of 2000 tonnes of semolina to egypt the us agriculture department said
electro sensors inc else year oper net
the unit had sales of five mln dlrs in 1986
they will be sold in denominations of 20000 crowns and listed in luxembourg
mobex said its mobex acquisition corp unit accepted 2316940 shares of grant common or about 98 pct of the 2369799 shares presently outstanding at the tender price
we dont see that there is going to be any difficulty in maintaining the 18 dlr price throughout the rest of the year lukman said
the industrial action at the nsw ports is part of the week of action called by the nsw trades and labour council to protest changes to the states workers compensation laws
following the london collapse we have immediately embarked on a concertation course to avoid breaking an already fragile market he said
us trade representative clayton yeutter called us japan relations on certain key trade issues very strained
the transaction subject to regulatory approval is expected to be completed during the second quarter of 1987
chen zuyuan communist party secretary of a village in the eastern province of zhejiang said the government listened too much to the demands of selfish city people and could raise city grain prices without any problem
they said that while the fed faces no great urgency to add reserves at the start of the two week maintenance period today it would probably do so in order to offset a relatively high federal funds rate
if it is not curbed in the two affected countries their rubber output may drop and prices can rise he said
smith and nephew issues convertible eurobond
tolland bank fsb tobko 2nd qtr net
charges taken last year as a result of reserve inadequacies in the property and casualty subsidiary sharply reduced the equity base and increased the financial leverage of the company duff and phelps said
cross and trecker ctco to sell unit
chilean trade surplus narrows slightly in february
new world pictures nwp sells taft tfb stake
if there are riches under the sea they are for mankind despite the end of the crisis turkish officials acknowledged that the underlying dispute over delimiting the continental shelf in the aegean remained unsolved
asbestec industries inc said it signed a letter of intent to buy asbestos abatement contractor pw stephens for three mln dlrs in cash stock and notes
balladur was one of the main architects of the louvre accord and has invested considerable political capital in defending them
he said usx also did not plan to sell any of its 49 pct interest in the giant yates field in west texas
brazil which declared an interest payments moratorium last month is leading a challenge to washingtons strategy and officials here obviously feared any decisions that might deepen rifts between the united states and third world nations
the us is to lend sudan 57 mln dlrs to buy 309000 tonnes of wheat and 73000 tonnes of wheat flour according to an agreement signed here
pantry inc inb talks on being acquired
the commission proposed its package to save one billion dollars on the ecs ever rising farm budget
ida gives 186 mln dlr loan to sri lanka
shr 30 cts vs 21 cts net 3358000 vs 2276000 sales 433 mln vs 335 mln 1st half shr 60 cts vs 42 cts net 6654000 vs 4638000 sales 866 mln vs 664 mln note share adjusted for three for two stock split in may 1986
it was also trying to eliminate aflatoxin totally but this was likely to take several years of research
the usdas weekly export inspection report is expected to show a decline in soybean exports and steady to slightly lower corn and wheat exports according to cbt floor traders forecasts
invisibles in february were put provisionally at a 600 mln surplus the same as in january
theres probably some speculation out there that there might be another offer said one analyst
but hans haumer head of the erste oesterreichische spar casse bank told that no cut should be made unless west german rates came down first
mim holdings ltd mimas a substantial shareholder in idc has agreed it will not buy any additional idc shares until february seven and has granted idc acquisition a right of first refusal on any idc shares it sells during that period the company said
in january the index rose 04 pct for a 39 pct year on year rise on both the previous base and the new index
theres no doubt that some deficit reduction helps but if your objective is to stabilize the dollar and perserve the feds flexibility to conduct monetary policy then the answer is its not enough silvia told 
it quoted oil minister issam abdul rahim al chalabi who returned sunday as saying iraq will continue to adhere to its position considering itself as not included in the agreement last december iraq rejected its assigned first half 1987 quota of 1466 mln bpd and demanded a share equal to the 2255 mln bpd quota set for iran its enemy in the nearly seven year old gulf war
banks were well supplied with liquidity holding 615 billion marks in reserves at the bundesbank on tuesday
the company said sales for the first six months of the year were 2420 mln dlrs more than 15 pct above the 2101 mln dlrs reported in the same period last year
conflicting economic indicators from the us have also been dampening market activity he added
they think they find good value real estate here which with long term and fixed capital investment is the kind of investment australia needs buttrose added
in august housing starts were unchanged from july levels at 1598000 units instead of being down 15 pct as previously reported
bankers trust is the trustee for the debentures
a sharp rise in soviet sugar consumption since the start of the kremlins anti alcohol drive indicates home brewing is costing the state 20 billion roubles in lost vodka sales pravda said
foreign sales of silver copper zinc and other minerals earn peru over half of its export income
australias terms of trade fell by a further 35 pct in the fourth quarter of 1986 after declining 08 pct in the third quarter and 27 pct a year earlier the statistics bureau said
offers are due by 1200 hrs est march 26 and will remain valid until the close of business the following day the agent said
there was no immediate indication when reagan might act on the recommendations of his economic policy council to curb japanese exports to the united states but officials said the move could come today or early next week
trilon financial corp said it declared a stock dividend of one class a share for each two class a shares held payable may 15 to shareholders of record on april 30
national fuel gas co said its mail date for its previously announced two for one stock split is june 19 1987
but inflation appears to be heading higher partly due to the lower dollar with consumer prices forecast to rise four pct this year and 45 pct next year after just 21 pct in 1986
japans employment condition was still severe in february as the non rounded rate of unemployment in february fell only 003 percentage points to 293 pct from 296 pct in january an agency official said
if we can sell more than our quota at official prices while some countries are suffering difficulties marketing their share it means we in kuwait are unusually clever he said
in investigations involving a processed agricultural product trade associations of processors or producers would have to petition for relief from foreign dumping or unfair duties
deutsche was lead underwriter for the 213 billion dlr fiat placement announced on september 23
sommer will assume the additional title of president
reagan said there were recent signs japan was beginning to adhere to the pact and that was why he was not terminating it
president of the brazilian coffee institute jorio dauster told a press conference in rio de janeiro today that brazil has no set target for its coffee exports following the breakdown of the ico talks on export quotas
uk banks offer fixed rate mortgages at 102 pct
the company also has tax credits of about 25 billion dlrs canadian 19 billion dlrs us it reported a 1986 loss of 22 billion dlrs 165 billion dlrs us believed to be the largest ever by a canadian company
ec mainly for tin extension no uk stand taken
we didnt find anything so we stopped doing it a us embassy spokesman said
chinas ministry of agriculture animal husbandry and fisheries has called for measures including the timely supply of pesticides to farmers to combat the threat it said
rodman and renshaw completed its initial public offering of 15 mln common shares in june 1986
wang der hwa deputy director of the finance ministrys customs administration department told reporters the list of products included 60 items asked by washington
over one third of australias indirect tax income is derived from oil at a time of falling domestic output and weak crude prices he told the apea annual conference here
however jucker said the company improved liquidity through a recovery in cash flow and conversion of 300 mln swiss francs of credit into a subordinated loan
while the commercial banks had their doubts about the pins proposal ongpin said there was great interest on the part of certain investment banks which are already active in the secondary market for sovereign debt
the drop was far less than the 15 basis point decline in the previous period the agency said
deutsche bank finance nv curacao is issuing a 75 mln stg eurobond due april 2 1997 paying 9 7 8 pct and priced at 101 3 4 pct joint lead manager kleinwort benson ltd said
more
banque nationale de paris hong kong branch is planning a 100 mln hk dlr certificate of deposit issue with bt asia ltd as lead manager banking sources said
keidanren suggested that proceeds from sales of stocks in the newly privatised nippon telegraph and telephone corp should also be used to stimulate the economy
so far only 21000 tonnes of second hand cocoa have been taken up for buffer stock purposes and this traders noted only on an intermittent basis
santos hodeidah 10000 mt bagged sugar about 30 dlrs 750 750 20 30 4 a c dutch charterer
the notes will be sold nationwide through underwriters managed by shearson lehman brothers inc
that was down from 2480000 the previous week
the following proposed securities offerings were filed recently with the securities and exchange commission angio medical corp initial public offering of 1666667 units each consisting of one share of common stock and one redeemable warrant to buy one share of common stock through kean securities co inc
proceeds will be used for general corporate purposes and possible acquisitions micropolis said
that policy goal still remains a prime objective of the reagan administration and will not change with darmans departure
david anthony a smith barney analyst said it is possible shearson would be partially sold to the public
sun cos sun refining and marketing subsidiary said it increased the price it charges contract barge customers for heating oil in new york harbor 050 cent a gallon effective today
the statement said the request for the withdrawal of the troops was made because of the calmness reigning in all of its refineries
shr profit two cts vs loss 16 cts net profit 558000 vs loss 580000 sales 662 mln vs 295 mln avg shrs 4476000 vs 3615000 year shr loss 61 cts vs loss 79 cts net loss 1760000 vs loss 2180000 sales 1584 mln vs 763 mln avg shrs 4475000 vs 2751000
cocoa council head to present buffer compromise
the next six weeks in the ussrs grain growing areas will be the crucial period that will determine the final outcome of the winter crops martell and other analysts said
he said nearly all cane and beet is sold to the state owned mills with a small amount sold raw to consumers
central ill public service cip 1st qtr net
expiration dates on upland cotton certificates issued under the 1986 upland cotton program are being extended the agriculture department announced
dealers said the bundesbank is keen to prevent too much liquidity accruing in the market as that would blunt the effectiveness of the security repurchase agreement its main open market instrument for steering market interest rates
pioneer makes business forms
unifirst corp unf sets quarterly
they said saudi arabia was also selling oil from its crude oil stocks in tankers around the world which opec says must be counted towards a members production quota
eurobond prices in the floating rate note sector slumped across the board by as much as a full point on some issues
shr 99 cts vs 42 cts net 176 mln vs 7528000 sales 4242 mln vs 3768 mln nine mths shr 221 dlrs vs 94 cts net 393 mln vs 168 mln sales 120 billion vs 110 billion note share adjusted for two for one stock split in april 1987
the recent widening of interest rate differentials the fact that the dollar has fallen sharply in a very short period and an improvement in real trade balances have all combined towards stabilizing the dollar he said
the us agriculture department forecast australias 1986 87 wheat crop at 1730 mln tonnes vs 1750 mln tonnes last month
the rating agency expects nonperforming loans to remain high by industry standards because of exposure to energy and real estate
the bank of england said it had provided the money market with 1143 billion mln stg assistance in response to an early round of bill offers from the discount houses
new zealands unemployment rate fell to 60 pct of the workforce at the end of february from 61 pct in january but was above the 43 pct level of february 1986 the labour department said
opecs credibility faces fresh scrutiny in coming weeks amid signs of a significant rise in supplies of oil to international oil markets the kuwait daily al qabas said
the bundesbank had managed successfully to keep interest rates down on the short term money market although its policies had exerted little effect on the long term capital market which was so important for investment financing and thus for the course of the economy it said
dutch coffee trade association chairman frits van horick said in amsterdam the new formula is based on six year moving averages and would give brazil an unchanged export quota for the remaining to years of the current coffee agreement
tenneco inc said its newport news shipbuilding subsidiary has completed the purchase of the sperry marine systems division of unisys corp for about 70 mln dlrs
but januarys sales were revised down to a 74 pct drop from a previously reported 58 pct decline
the us takes 90 pct of koreas computer products exports 72 pct of its electrical appliances and 65 pct of its telecommunications equipment
the sources who asked not to be named said the government will likely recommend that conoco be allowed to continue as the fields operator through the development phase with statoil taking over only after production starts in the early 1990s
in the full year 1986 imports rose 306 billion dlrs or nine pct to 3695 billion dlrs
in particular the june canadian dollar for which sloane recently put out a buy recommendation has hovered in a range between 07600 and 07660 in recent weeks forming a triangle on the charts from which it may soon break out on the upside
a record fall in unemployment and good manufacturing production data showed that the economy is still strong and does not need a fillip from lower rates
filtertek inc ftk sets quarterly
japans 586 billion dlr trade surplus with the united states last year has come under fire in congress concerned about the loss of jobs to foreign competition and with the record 169 billion dlrs us trade deficit in 1986
but the key thing isnt so much what they earn this year
the chairman of the us senate committee with jurisdiction over trade said he was concerned about a resolution on bilateral trade negotiations adopted by the canadian house of commons last week
the sources believed a return of oil below 18 dlrs a barrel may open the doors for international oil companies to pressure opec over contract prices similar to the struggle last march it said apparently referring to resistance by buyers to lift from qatar unless it gave price discounts
it said australia had a current external deficit of 5 3 4 pct of gross domestic product high and rapidly rising external debt equal to 30 pct of gdp growing servicing costs and inflation above nine pct far higher than that of other oecd countries
shr 20 cts vs 16 cts net 973000 vs 775000 revs 128 mln vs 9678000
duff and phelps raised its ratings to dp 1 aaa from dp 2 high aa on 26 billion dlrs in debentures and 150 mln dlrs in notes of south central bell telephone co a unit of bellsouth corp
latest quarter net includes 24000 dlr tax credit
she said skanska will also be appointing two board members to the canadian company
the commodity futures trading commission approved the rule change in february according to a cftc spokeswoman
first union func acquisition advances
prior year net includes gain 6600000 dlrs on sale of boston store division
the order was issued as part of a settlement of ftc charges that coopers merger with gardner denver co would lessen competion and increase concentration in the gas compressor and industrial air tool industries the ftc said
franco nevada said american barrick announced on march nine that the drilling indicated a number of significant intersections of sulfide gold mineralization below a depth of about 1000 feet
heineken board member hans coebergh responsible for african operations said he saw africa as one of the most important beer growth markets in the long term
queensland government development has cp program
csce to put additional margin on july cocoa
the stores are located in 17 states concentrated in the northeast northwest and southwest
the offer would occur within about 90 days after the closing of the sale of the initial 50 pct stake the company said
hard winter 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 1009 1009 717 717 production 1018 1018 1230 1230 ttl supply x 2027 2027 1947 1947 domestic use 599 579 543 543 exports 450 475 395 395 total use 1049 1054 938 938 end stocks 978 973 1009 1009 note season begins june 1
the restoration of coffee export quotas before the end of the current 1986 87 coffee year oct 1 sept 30 now seems unlikely given reluctance by international coffee organization ico producers and consumers to resume negotiations on an interim quota accord producer delegates told reporters
the transaction is expected to be completed early in the third quarter of its fiscal year ending september 30 1987
the revised adjusted january index was down 05 pct from december when it rose 36 pct from a month earlier
the company will operate as boart msa pty ltd it said
highland superstores inc high 4th qtr net
oper shr 10 cts vs eight cts oper net 325000 vs 228000 sales 7070000 vs 6483000 avg shrs 3313000 vs three mln year oper shr 69 cts vs 51 cts oper net 2124000 vs 1536000 sales 312 mln vs 227 mln avg shrs 3071000 vs three mln note 1986 net both periods includes 72000 dlr tax credit
other milds coffee producers to meet may 4
chairman sir philip shelbourne said the collapse in the oil price in 1986 had made the period extremely difficult but the company had come through remarkably well
the group led by tag group sa of luxembourg said it filed with the sec on feb 20 a notice that it proposes to sell 1119925 shares of valero energy common stock
wolverine world wide inc www 4th qtr loss
mellon bank na of pittsburgh and republic bank of dallas have both raised their prime lending rates to 7 3 4 pct from 7 1 2 effective immediately
sanwa will purchase the shares from international finance corp a bpi shareholder and sister organisation of the world bank for 351 mln yen he said
the ceco corp said it repurchased the 20 mln dlr 13 1 4 pct senior subordinate notes due november 30 1996 issued last december nine as part of the financing for its leveraged buyout
brazil suspended interest payments on its 68 billion dlrs of medium and long term debt on february 22
a total of 72 drums of various toxic materials which were loaded on trucks in the ships hold have been recovered but belgian authorities warned it was essential to recover a further 61 containers of a cyanide based solution
ibrahim buhindi of the saudi national commercial bank in bahrain and imad bata of finance and credit corp of jordan were elected secretary and treasurer respectively
if their tests are positiive they are likely to buy more hofmeister said he could reduce the offer price of buffer stock rubber to stimulate interest but inro did not want to depress prices artificially
they said traders expected riyal deposits to follow the recent strong rise in eurodollar rates sparked by fears of a tighter us monetary policy to halt the dollars slide
the philadelphia stock exchange phlx a leading trader of currency options plans to extend its trading hours to serve australasian and far eastern markets exchange president nicholas giordano said
our representatives have gone to washington to the international monetary fund the world bank the fed federal reserve board and the us treasury to brief them in advance on this alternative and it has generally been positively received we dont believe that there is going to be a problem on the accounting side ongpin said
coordinated punishing intervention by the central banks in contrast to the recent rolling intervention which has only smoothed out the market is in the offing according to horner
world bank sources said the banks lending to the philippines since 1957 including the latest loan totalled 43 billion dlrs
atcor atcoo seeks buyers for consumer business
inspiration lowers copper price to 6650 cts lb
a flood warning continues today for eastern nebraska
herrhausen said he did not expect any major narrowing of the us trade and budget deficits in the next few months
male unemployment in february remained at 29 pct equal to the second highest level set in january and december
besides using 250 mln dlrs of its own equity for the tender offer general partners said it would seek one billion dlrs under a secured margin facility from wells fargo bank na and other banks
american telephone and telegraph co and philips telecommunications bv apt would hold 36 pct through direct and indirect holdings in frances cie generale de constructions telephoniques if a joint bid with french partners for the soon to be privatised firm succeeds a director at one of the partner firms said
otherwise the meeting was occupied with internal administrative matters delegates said
nixdorf world group 1986 net profit 22242 mln marks vs 17229 mln div 10 marks
murgold resources inc said assays received from 320 feet of drifting on the number three vein at the chester township property south of timmins ontario indicate an average of 0528 ounce of gold per ton across an average width of five feet for the 320 foot length
baldrige supports nic talks on currencies
ocean showboat finance corp a unit of showboat inc is raising 180 mln dlrs through an offering of mortgage backed bonds due 2002 with an 11 3 8 pct coupon and par pricing said sole manager donaldson lufkin and jenrette securities corp
the report reviewing the countrys economy in the first three months of this year said year on year gnp was provisionally estimated to have grown by about 12 pct in the period against a 105 pct growth in the same 1986 period
shr class a loss three cts vs profit 12 cts shr class b loss seven cts vs profit eight cts net loss 94862 vs profit 264607 sales 653246 vs 1300515 nine mths shr class a profit five cts vs profit 44 cts shr class b loss three cts vs profit 36 cts net profit 64248 vs profit 975329 sales 2291925 vs 4235914 note full name is electronic tele communications inc etciao
france announces 105 billion franc t bill auction
pioneer sugar says csr takeover offer too low
a spokesman said alcan was closing the smelter with annual capacity of 44000 tonnes and 320 employees because of high electricity costs and the low world market price of aluminium
dealers forecast tax payments of 25 and 30 billion marks but much of it is expected to burden the system only next week
the turkish government said yesterday it had licensed the state owned turkish petroleum corp to explore for oil in international waters around three greek islands off turkey
saitama bank issues 100 mln sfr convertible
texas eastern transmission corp a unit of texas eastern corp said it plans to redeem on april 30 its outstanding 100 mln dlrs of 13 pct debentures due 2009 and 100 mln dlrs of 12 3 4 pct debentures of 2008
although brazil has rejected a substantive role for the international monetary fund imf in managing its economy funaro paid a call in washington to imf managing director michel camdessus and to world bank president barber conable
he notes that commodity prices are traded daily in auction markets and a commodity price index can be calculated on a virtually continuous basis
bahrains commercial banks are currently liquid and have been making little use of the traditional dollar swaps offered by the agency
minas gerais state guaxupe 330 millimetres tres pontas 50 mm
yeutter said the pressures for congress to act were hard to resist but the pending legislation would undermine president reagans efforts to liberalize the world trade
shr 48 cts vs 64 cts net 1959404 vs 2621778 revs 5132626 vs 8167401
white house spokesman marlin fitzwater told reporters today that it was in the us strategic interest to keep the free flow of oil in the gulf and through the straits of hormuz
an inland revenue ruling accompanying todays uk budget would eliminate a favourable tax treatment on certain foreign loans by british banks and may be a nightmare of practical application banking sources said
olson olsn to have loss from egg unit sale
the company markets activitrax the first single chamber pacemaker that varies heartrate in response to physical activity
laser photonics inc said it sold 615385 shares of its common stock to investors for one mln dlrs under a previously announced agreement
they either have to accept a 46 dlr proposal or perhaps work a deal where its sweetened
mthly div 69 cts vs 69 cts prior pay march 31 record march 16 note franklin michigan insured tax free income fund
they recommended japanese firms be penalized through tariffs or import duties over the next six to 12 months for continuing to dump microchips
bankruptcy specialists said it was likely texacos chapter 11 filing would allow the company to secure its credit lines and oil supplies that are key to the companys business
as reported buitonis consolidated revenue rose last year to 1623 billion lire from 1177 billion in 1985
current restrictions on sulphur emissions and known future plans for both sweden and export markets did not cause it any serious problems it said in a statement
our board carefully reviewed waste management offer and concluded that it does not fully reflect the value of the company
gencorp officials declined to comment on the statement but a spokesman reiterated a request to shareholders to wait until the board renders an opinion before making a decision on the offer
i believe were going to see a change in the world oil markets in two to three years because oil is becoming harder to find anderson who retired from arco last year to form hondo oil and gas co said world oil consumption is approaching 60 mln barrels a day but a current excess capacity cushion of about 45 mln barrels a day will rapidly disappear
irving trust v buys gulf western gw unit
economists said the latest cpi supports existing expectations for an inflation rate of 35 to four pct in 1987
the french government has given itself until the end of april to decide which applicant will be accepted they added
despite its attempts to dampen rates with measures such as aggressive commercial bill purchases the central bank has failed to remove all upward pressure money traders said
brown forman said nine month profits declined a bit to 660 mln dlrs or 307 dlrs a share from 662 mln dlrs or 308 dlrs a share a year earlier due to a second quarter charge of 37 cts a share for restructuring its beverage operations
qtly div 87 cts vs 87 cts pay feb 17 record jan 20
eagle clothes inc egl 2nd qtr jan 31
he noted the problem of debt was a severe one and many countries are asking for adjustment assistance because of the problem of debt conable is a a former republican congressman from new york chosen by president reagan for the bank position last year
for the first time they the banks will gain access not only to traditional cd investors but also to commercial paper investors at rates which are competitive with traditional floating rate cds said michael balaban a vice president with shearsons commercial paper unit
the company said it expects to mail checks representing the purchase price of the 20 mln shares purchased later this week and will be returning unpurchased shares shortly thereafter
netbacks for other grades of oil refined in northern europe are shown below in dlrs a barrel
australias m 3 money supply growth was 15 pct in march and 113 pct in the 12 months to march the reserve bank said
the economy grew by 53 pct last year up from 41 pct in 1985 ouko said
shr profit 10 cts vs loss one ct net profit 647390 vs loss 75967 sales 2120027 vs 1666908 note current year net includes 456004 dlr gain from debt extinguishment
us officials however have said their monitoring of japanese semiconductor shipments to east asian countries and western europe showed no letup in the dumping and that the japanese home markets remained shut to american exports
the official said both surplus countries like west germany and japan and deficit countries like the us agreed to play a role in bringing about more balanced economic growth
north central labs nclb discusses aids tests
the spokesman said the firm had asked the transporation agency permission to buy all of piedmonts voting stock the but agency decided to give approval for 51 pct of shares
the ideal regime is a stable one not one where there is a constant change in policies mcivor said
finance minister manuel azpurua told reporters he hopes to sign the new rescheduling accord early in the second quarter but that in any case it would become effective from april 1
geoffrion leclerc forecasts results
the bundesbanks average yield of public paper is already nearing last years low
in february m3 rose by 06 pct compared with 08 in january and a february 1986 rise of 01 pct
federal signal corp fss regular dividend
metropolitan financial corp mfc votes payout
galveston can earn a 50 pct interest by spending six mln dlrs in exploration and development work on the property by december 31 1989
the merger took place after an agreement was reached with the federal trade commission that certain domestic polyester textile fiber assets of the combined companies would be divested it said
the offering will be underwritten by morgan stanley and co inc
pacific gas said yesterday that a change in the method for accounting for its diablo canyon nuclear power plant revenues will result in a 470 mln dlr reduction in 1987 earnings
qtr ended jan 31 shr 10 cts vs three cts net 194842 vs 54200 revs 222 mln vs 112 mln six mths shr 50 cts vs 28 cts net 965924 vs 502008 revs 438 mln vs 216 mln note current six mths revs include 168 mln dlrs in revs from john f
he added that 80 pct of spains exports went to organisation for economic cooperation and development oecd countries
shr profit 26 cts vs profit 10 cts net profit 1371000 vs profit 482000 revs 48 mln vs 457 mln avg shrs 520 mln vs 515 mln 12 mths shr profit 105 dlrs vs loss 34 cts net profit 5454000 vs loss 1766000 revs 1917 mln vs 1852 mln avg shrs 520 mln vs 515 mln
shipments from smelters plants declined to 23560 short tons in february from 24564 short tons in january
hughes gmh elects chairman
bluefield supply bfld in liquidating payout
ducommun inc said it sold its airdrome parts co division to a group of investors headed by airdromes management for a cash price of 12 mln dlrs
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 includes 13000 dlr tax credit
non callable to maturity the issue is rated a 1 by moodys investors service inc and a plus by standard and poors corp
the liras fluctuation margin is currently significantly higher than that allowed for other ems currencies
its in the dregs right now said bolster of the states drilling activity
brazilian fcoj official welcomes us duty cut
he added that total sales volume increased as a result of higher offtake by affiliated companies while inland market sales were maintained at around the previous years levels
pakistan is not emerging as a major wheat exporter as world market prospects are not good enough sartaj aziz special assistant on food and agriculture to the pakistani prime minister said in an interview
us warns of dependence on foreign oil
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
this does not reflect banking liquidity but the liquidity of industry and households which cannot be directly reached with the bundesbanks instruments mueller said
but stocks are unevenly distributed with about 50 pct held by the us thus the food security prospects in 1987 88 for many developing countries particularly in africa depend crucially on the outcome of this years harvests fao said
1986 oper earnings excludes loss from discontinued operations of 625 mln dlrs or 441 dlrs a share versus a loss of 1668 mln dlrs or 1224 dlrs a share in 1985
however may developing countries in tropical climates such as sub saharan africa southeast asia and central america are not well adapted for wheat production and improved varieties are not the answer to rising food needs the department said
a relatively steady interest rate climate reduced volume in the most active contract treasury bond futures by 175 pct from a year ago to 4307645 contracts
most dealers said they doubted the us federal reserve would intervene on its own account to support the dollar but some said this might occur if the dollar fell much below 148 yen
he said based on talks with staff members of gaming authorities there can be no assurance that the necessary regulatory review of its bid for caesars world can be completed by the original april three expiration date
but i must say i do feel the need for allied lyons to be better known in canada
in return latin nations would have to give up their 54 pct simple majority voting power over iadb lending
the company had received a qualified opinion on 1985 financial statements subject to its ability to resolve negotiations with its us bank group
singapore welcomed the london metal exchanges lme decision to list singapore as a delivery point for the lmes new dollar denominated aluminium contract
asked whether opec members of the gulf cooperation council gcc had any concrete proposals to help qatar sell its crude oil in the face of strong resistance to its official prices subroto said apparently they have taken care of that they the gcc meet very often among themselves
china wants to buy 5000 tonnes pakistani cotton
im not going to comment on that because invariably the exchange markets read either more or less into my remarks than i might intend he said in response to a question from the house appropriations committee
expecting us to pay arrears is like asking a dying man to give a pint of blood greenidge said
the analysts predicted that bhp will report an upturn in petroleum earnings compared with the first quarter reflecting some improvement in crude oil prices from the bass strait fields but these gains would be offset by lower mineral and steel earnings
the duties now are being assessed on a temporary basis pending a final ruling by the us international trade commission itc on whether the imports are injuring the domestic orange industry
reference new york grain freights 2 of april 8 they say the cory grain maize business from east london at 22 dlrs is to japan and not to spain as reported
japan has said it may be forced to reduce ore imports from india next year if new delhi fails to reduce the price one source said but declined to give further details
but the diplomats said they had seen no reports in the state press and heard no comments from officials to substantiate them
aquino says manila watching interest rates closely
he cited the default of 15 container leasees and ship charterers costing the company approximately 25 mln dlrs
he will arrive sometime later during the meetings here the delegate said
it said it will file a registration statement with the securities and exchange commission
liffe is likely to wait until the outstanding amount of bonds with matching months increases to over several billion yen bond managers said
co managers are daiwa dillon read drexel burnham and wertheim schroder
it gave no financial details of the transaction
freddie mac adjusts short term discount rates
mexico might supply ecuadors south korean market
sekisui chemical co ltd is issuing a 200 mln dlr equity warrant bond due may 7 1992 paying an indicated coupon of two pct and priced at par lead manager yamaichi international europe ltd said
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
analysts have speculated that gencorp on a break up basis could fetch more than 110 to 120 dlrs per share
pakistan to tender for rbd palm oil
cash balances should fluctuate around 30 mln nz dlrs over the week after open market operations it added
the group will also ask for authorisation to issue in any currency bonds and warrants for a maximum of ten billion francs and to underwrite the issue of bonds and shares in any currency for a maximum of ten billion francs
pacific gas had been carrying the other 60 pct as a deferred cash receivable and accounted for the non cash item as income
the officials said hard red spring wheat prices at chicago denver and toledo were adjusted by about the same amount as at pacific northwest duluth and minneapolis
heublein also said almaden wines will continue to be marketed and sold by a separate marketing and sales force
world bank seeks more aggressive debt role
1986 year net excludes tax credit 919000 dlrs
lead manager is swiss bank corp international ltd heading a syndicate with co lead managers nmb hambros bank limited morgan guaranty limited and sg warburg securities
schering the us distributor of fibre trim made by farma food a s of denmark said it and farma had sued natures blend claiming natures product infringed their trademark on fibre trim
yesterday british minister michael jopling said britain west germany portugal the netherlands and denmark were opposed to the measure
every country establishes laws to protect its interests
what we propose is to arrive at a mechanism of refinance for part of the service because we cannot service all that he said
interco inc iss 4th qtr feb 28 net
brazilian farmers also need cash flow and they cant afford to store the crops he said
brokers noted that bats shift away from its underperforming industries and the decreasing share of the tobacco portion of the group were seen as good signs
the agriculture department is not considering any major changes in its pricing system for posted county prices an agriculture department offical said
national gypsum co a unit of aancor holdings inc said it filed with the securities and exchange commission an amended registration statement covering up to 300 mln dlrs of 10 year priority senior subordinated notes
in an interview with el universal newspaper marcano said he thought us government pressure on banks had more to do with the unexpectedly speedy agreement than brazils decision to suspend interest payments
campbell in its bid that expired march 23 offered 80 cts cash and 125 legended campbell shares for each meston share
tesco forecasts profits rise this year
tribune co said it filed a shelf registration with the securities and exchange commission for 300 mln dlrs in debt securities
b and r posted pretax profit of 855000 dlrs in the year to dec 31 1986 when it had net tangible assets of 563000 dlrs
mcdonalds corp is raising 75 mln australian dollars through a 14 5 8 pct bullet eurobond priced at 101 1 4 and maturing november 5 1991 lead manager bayerische vereinsbank ag said
since announcing the agreements mr
sosnoff said his mts acquisition corp to date has received only a negligible number of caesars world inc shares in response to its 28 dlr per share tender offer for all shares
both were proposed last month
at march 31 the allowance for loan losses was 1142 mln dlrs versus 948 mln at end of march 1986
french agricultural minister francois guillaume warned that france would flatly reject proposed reforms of the european community ec cereals sugar and oilseeds sectors which he said would disrupt these markets
by comparison a year ago the psbr was set at 70 billion stg
cra said the main item in its 25028 mln dlr extraordinary loss was a 1729 mln writeoff of unrealised foreign exchange losses on borrowings as required by a new accounting standard
on february 20 the brazilian government suspended interest payments on part of its huge foreign debt following a sharp deterioration in its trade balance
last month the central bank lowered its special advances rate to 51 pct from 525 pct after the bundesbank dropped its repurchase tender rate to 355 pct from 38 pct
exporters have not received final pl 480 approval on their sale of a total of 9500 tonnes of us number five or better long grain brown rice 10 pct maximum broken for april 10 may 25 shipments
alberta premier don getty agreed things are running pretty quickly now the talks launched by mulroneys progressive conservative government after concerns about protectionist sentiment in the us are aimed reducing the remaining barriers between the worlds largest trading partnership
first interstate has 42 franchise banks that offer first interstate financial services in ten states
on a year over year basis the index was down 08 pct little change from the 09 pct decline posted in january
proceeds will be used to repay short term indebtedness and for general corporate purposes which may include acquisitions waxman said
such cutbacks cannot in certain cases be sustained al wattari said
hughes yesterday adjourned the special meeting at which shareholders were to vote on the merger without permitting the counting of votes on the deal
bangladesh tenders for two mln barrels petroleum
farmer marketings of old crop soybeans continue very light with flat prices apparently well below levels they are willing to sell dealers said
control data said the divestiture was part of its strategy to focus on narrower markets
bonn officials have said they expect exports to pick up during the year but could still fall below the 1986 level
but he added as painful as the correction may be to our trading partners it is less painful than leaving the problem uncorrected because that would lead us into an inevitable lengthy and steep world recession roderick said between february 1985 and december 1986 the dollar fell by more than 40 pct in real terms against major industrial currencies and by 30 to 35 pct against a broader group of currencies of nearly all developing nations
he said that would correspond to a federal funds rate of around 610 pct
pubco corp said its board declared a dividend distribution of one common stock purchase right on each outstanding share of pubcos common stock
terms were not disclosed
however the sources said ec corn subsidies are probably higher than the us now because of increases since 1984
de laurentiis entertainment group inc said embassy communications a californai general partnership affiliated with coca cola co ko plans to sell its 101 pct stake in the company
germain volcker said he opposed legislation to formalize international negotiations on exchange rates and to require treasury secretary james baker to disclose plans for currency intervention
bahrain treasury bills yield average 600 pct
in fact he said theres a chance those banks could get more involved in the future
ccl industries inc s continental can canada inc unit said it acquired the wallaceburg ontario metal can making operations of nestle enterprises ltd wholly owned by nestle sa of switzerland
rio de janeiros 3500 dockworkers went on strike for an indefinite period today to demand wage increases a spokesman for the dockers said
qtly div 64 cts vs 64 cts prior pay may 15 record april 16
us warships attacked and destroyed an iranian oil platform on monday in retaliation for fridays iranian attack damaging a us flagged ship us defense secretary caspar weinberger said
the term of the loc is five years with an evergreen feature which provides for annual reinstatement of the five year term at the support banks option iel said
american sources say he is ready to state that the best way to reverse protectionist sentiment in the united states is to implement four key uruguay proposals an end to agricultural subsidies inclusion of trade in services and investments in gatt regulations tightening of restrictions on pirating of so called intellectual property such as trademarks patents and copyrights new rules to resolve trade disputes among gatts 92 member states
he added that the deficit for the year ending march 1988 could be much higher than the governments 13 billion dlr forecast
while exports have been delayed by the strike exporters say the problems have been manageable
top us chipmakers like national semiconductor corp nsm texas instruments inc txn and motorola inc mot might also seek to buy fairchild but could possibly run into antitrust problems the analysts added
the policy shift followed a dramatic deterioration in the political situation and the onset of an economic crisis triggered by the refusal of major foreign banks to roll over loans to the country in september 1985
the uk based pergamon media trust of robert maxwell has a 20 pct stake in the consortium representing a 10 pct stake in tf1 while maxwell media france has a six pct stake or three pct of the television network
bakers senior debt was downgraded to dp 8 high bbb from dp 7 low a hughes senior debt was raised to dp 8 from dp 12 middle bb while subordinated debt was raised to dp 9 middle bbb from dp 14 high b the debt ratio of the combined compaies will be about 40 pct but available cash plus proceeds from the sale of assets will permit a prompt reduction in debt duff and phelps said
the us agriculture department made the following revisions for 1986 crop summer potatoes production 21003000 cwt 100 lbs vs 20900000 cwt estimated previously
a 30 pct tariff increase introduced in january will only bring in an extra 600 mln bolivars per year as against additional debt costs of 900 mln
the us agriculture department gave projected carryover free stocks of feedgrains corn and wheat under loans with comparisons as follows in mln bushels except feedgrains which is in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 under regular nine month loan wheat 225 300 678 678 feedgrains 521 681 757 757 corn 1800 2400 2589 2589 special producer storage loan program wheat 165 150 163 163 feedgrains 70 67 53 53 corn 200 200 147 147
the reynolds and reynolds co said it will fight a suit filed against it by advanced voice technologies alleging misappropriation of trade secrets
nomura international finance issues eurobond
it ended up paying 567 billion dlrs for the outstanding shell oil stake a significant premium to its original bid of about 52 billion dlrs
corrected network video inc nvid 3rd qtr
frost in early february bought 49 pct of the company durkin said
bell and howell co said it completed the sale of its computer output microfilm business to com products inc a unit of privately held lebow industries inc the sum of the deal was not disclosed
k mart corp 4th qtr shr 211 dlrs vs nine cts
us cabinet council set to mull farm issues
the notes are part of a refinancing plan that includes a new credit agreement with domestic and foreign banks for 300 mln dlrs
it said invitations were sent to two alaskan electric utilities the city and borough of anchorage and the state of alaska
first interstate expects brazil ecuador loan actions to cut 1987 net by 154 mln dlrs
there will be a facility fee of 10 basis points and utilisation fees of five basis points for up to 33 pct 75 basis points for between 34 and 66 pct and 10 basis points for the remainder
as a result the company retroactively charged all past exploration and related administration costs incurred on its properties against expenses in 1986 1985 and 1984
results include syscom corp from december 30 1986 purchase and beloit corp from march 31 1986 purchase
the new york firm will be known as deak international trading ltd the company said
finance minister dilson funaro currently on an international tour to seek governmental support for his efforts to solve brazils 108 billion dlr foreign debt crisis said creditors have expressed willingness to help
in addition to price competitiveness availability will be an important factor persuading energy users to switch to gas frank spadine senior energy economist with bankers trust corp
but analysts were not so certain saying that the evergo group which has a reputation as a corporate raider may team up with lai sun garment for a takeover
shr 22 cts vs six cts net 819000 vs 201000 revs 93 mln vs 77 mln year shr 40 cts vs 20 cts net 15 mln vs 728000 revs 315 mln vs 266 mln
a multiple of ten times earnings would be the top whack for the brewing division in the current guinness situation he said
domestic imports last week were 306031
we remain optimistic about the prospects for both the industry and ibm he said
japan sets an annual beef import quota
chris craft industries inc ccn regular payout
painewebber inc the first boston corp fbc and salomon inc sb said paine webber group inc has made a public offering of four mln shares of 1375 dlrs convertible exchangeable preferred stock with a liquidation preferance of 25 dlrs per share
the us strategy for dealing with the debt crisis is expected to be repeated by treasury secretary james baker in a speech to the banks annual meeting today monday but monetary sources expect baker to suggest the united states has some room for compromise and also to fend off other challenges to its strategy by signalling washington is open to innovative solutions to the debt problem
according to the document the committees counsel said it needed one to two months to evaluate the offering price
chang declined to predict how high the reserves might rise but local economists have forecast they will hit 60 billion us dlrs by the end of 1987
the original estimate of seedings of winter wheat was published in january
nmc acting general manager john rubibira said tanzania has only 56000 tonnes of silo storage capacity concentrated in dar es salaam arusha in the north and iringa in central tanzania
chigaga told that guidelines on the functioning of the new economic prgram would be released soon
these were programmes they thought were necessary to stabilise market conditions and to help themselves attain better pricing conditions nazer said
wallin cautioned analysts not to quickly change their per share estimates for the company as he said medtronic will have heavy sales and marketing expenses in fiscal 1988
lufthansa launches flights to washington riyadh
one of the problems britain could face if it were to withdraw licences for japanese banks would be that the bankers would be welcomed with open arms in frankfurt or amsterdam they point out
several latin american countries have initiated schemes to cancel foreign debt by equity swaps or third party buy backs but bolivia would be the first country in the region to make a formal offer to buy back all its commercial bank debt at discounted rates
rand mines properties ltd one of south africas big six mining companies said in a statement that the accident occurred on saturday morning at the east rand proprietary mines ltd mine at boksburg 25 km east of johannesburg
corn season begins sept 1
het comite asked chv to act as a test case against the grain levy because the bill the company received from the commodity board included grain from a wide variety of origins and was therefore considered to be the best general basis for a legal challenge to the levy pex noted
new plan realty trust npr 2nd qtr net
the current trade imbalance between the united states and the soviet union high us commodity prices and increased world grain production make a renewal of the supply agreement next year less certain albert melnikov deputy trade representative of the soviet union said in an interview
yeutter said the accord was reached after extensive bilateral negotiations that ended earlier today in tokyo
full name of company is childrens discovery centers of america inc
the political will is not there on the part of some consumers to make agreements work martinez cuenca said
justice dept
healthsouth hsrco makes acquisition
international technology itx buys firm
honduras authorized to buy pl 480 commodities
italys ferruzzi spa has taken a 67 pct stake in spanish sunflower seed and cotton mill cooperativa agricola del guadalete sa guadalco sources at guadalco said
opening stocks at the beginning of last month totalled 320057 tonnes against 288406 tonnes at the start of february last year
lawson said he proposed to change the law so that companies in multinational groups with dual residence will no longer be able to secure tax relief twice on the same interest payment
wonnacott said that to resolve the subsidy problem the two sides should permit export subsidies of exports of up to 20 or 25 pct without imposing coutervailing duties
of decatur ill is a terminal elevator on the mississippi river doug snyder assistant to the vice president said
commenting on current foreign exchange movements miyazawa said japan would watch developments for another couple of days
prices rose in february by 03 pct from january after rises of 04 pct in january and of 02 pct in each of the last three months of 1986
crossland savings crld acquires western savings
but there was a danger some of them would be persuaded to change sides and if that happened opposition could crumble
nivison and co
oecd sees german growth hit by low domestic demand
wheat redemptions totaled 96 mln bushels valued at 237 mln dlrs since december 1
president reagan today is to announce a decision on tough new tariffs on japanese exports to retaliate for what he calls japans failure to end its unfair practices in semiconductor trade
the spokesman said he believed baker had already left west germany for sweden on monday
shr 16 cts vs 17 cts net 988000 vs 1005000 revs 197 mln vs 164 mln avg shrs 6206487 vs 5959028 six mths shr 31 cts vs 28 cts net 1884000 vs 1662000 revs 375 mln vs 308 mln avg shrs 6168105 vs 5950842
alleghany said cash will be paid in lieu of any fractional shares of its stock
the company said that this was despite the marks further strengthening against the dollar and other currencies and despite an increase in competitive pressure
weve seen the grey market begin to dry up for d rams and it has virtually dried up for eproms said merrill lynch analyst thomas kurlack of the two key memory chips used in computers
some shipping restrictions remain on rhine
hoechst raises profits on lower sales
echo bay said it encountered gold in 39 of 42 drill holes at cove
laser photonics inc lazro closes sale
a copper industry spokesman suggested that some assurance of permanence in the new clearing system would remove industry fears of uncertainty resulting from an endless process of review and change the press release said
fi tek corp to make acquisition
under the structural adjustment program supporting the debt reschedulings nigeria is due to receive 900 mln dlrs in fresh export credits this year from official export credit agencies
multi family starts rose 29 pct in september to a seasonally adjusted 501000 units after a 70 pct increase in august the department said
after rorer announced its second bid for the company last thursday analysts forecast that the robins family which holds control of the company would vigourously oppose any merger
international lease finance ilfc 1st qtr net
analysts have said commerce bank was pressing dome to sell the stock to pay down its debt
it advised the saudis the company would negotiate oil purchases elsewhere unless they changed their mind by monday
net in qtr 1987 vs 1986 includes provision for possible crit losses of 320 mln vs 431 mln
volvo issues 70 billion eurolire bond
baker said the agreement imposes particular sacrifices on japan and praised japans willingness to accept the pact as a demonstration of the japanese governments willingness to take concrete steps to resolve important trade issues
in the meantime even the prospect of new supply is not likely to move futures
sdc sydney development corp nine mths loss
due may 26 1992 paying 10 pct and priced at 100 1 2 pct
japan february external reserves record 5173 billion dlrs january 5146 billion
1986 qtr and nine mths includes gain 128000 dlrs or 36 cts per share and 445000 dlrs or 167 dlrs per share from utilization of operation loss carryforward
the holiday bonds will be bought back at 1016 pct of the bonds principal amount plus accrued interest or 103869 dlrs per 1000 dlr face amount
hall said that under recently enacted legislation banks and other financial institutions can be held liable for environmental risks in projects that they finance
uk september sterling bank lending up 44 billion stg official
frances cna issues 120 mln ecu eurobond
electrosound group inc esg 3rd qtr feb 28 loss
market talk suggested a federal commerce vessel had been booked to move grain from the great lakes to morocco on comanav account at about 22 dlrs and 1550 had been paid for a cargo of oilseeds from british columbia to japan but no confirmation was obtainable
the company has a strong balance sheet and considerable flexibility for 1987 it added
bankers said the repayment amounts essentially confirmed their private estimates and could be comfortably met by the monetary authorities
the haitian government has never before operated a gold mine but the united nations has recently completed a three year feasibility study which lists grand bois and morne bossa as sites of important gold deposits
financial news network inc fnni 2nd qtr net
but the government expects prices to fall after the wheat harvest next month
kokusan kinzoku kogyo co ltd kkk a japanese autoparts maker owned 25 pct by nissan motor co ltd nsant has exchanged a memorandum to acquire over 50 pct of us autoparts firm master cast co to avoid losses on us sales caused by the yens rise against the dollar a kkk spokesman said
ivaco inc year net
note the company was not required to pay corporation tax in the 1986 87 book year thanks to fiscal compensation possibilities
shr 10 cts vs 10 cts prior qtr pay april 17 record april 9
in addition it minimized the risk to us forces and the potential embarrassment of any losses including aircraft that could have been shot down had they taken part in an attack
a japanese real estate company said it will launch a campaign to sell land in us farming areas to rich japanese
it said spiridellis had revenues of 3500000 dlrs in calendar 1986
it also said it may buy additional shares or sell some or all of its current stake
rhodes rhds sees sharply lower 4th qtr net
eurosterling which has been in the limelight lately also on foreign exchange and currency bullishness slipped slightly
it said the project also seeks to reduce agricultural nutrient imbalances by building the capacity for phosphate fertilizer production and to improve institutional efficiency by introducing modern economic financial and operational systems and techniques
he said the government had met all monetary targets set for the first quarter in consultation with the international monetary fund imf it expected to draw down the fourth tranche from its 198 mln sdr stand by arrangement soon
treybig declined to offer specific projections for the quarter but he said the results might be lower than those for the first quarter of fiscal 1987 when tandem earned 271 mln dlrs or 58 cts a share
turkey said today its disputes with greece including rights on the continental shelf in the aegean sea should be solved through negotiations
ecuador would repay venezuela in crude once it resumed its exports after repairing its pipeline to balao a task that would take an estimated five months
robert bruce industries brucao 1st qtr loss
union texas petroleum said its worldwide proved reserves fell to 511 mln barrels of oil equivalent at the end of 1986 from 555 mln barrels reported in 1985
allied signal inc said it agreed to sell its linotype group unit to commerzbank ag of west germany for an undisclosed amount
manhattan supreme court justice lewis grossman today adjourned until monday a hearing on a stockholder suit seeking to block the hutton lbo transaction
it said management will also lease these airborne intensive care units to hospitals and government subdivisions through metropolitan leasing a wholly owned subsidiary of midivest
other analysts also noted that cattle are coming off wheat pasture sooner than normal because of poor pasture conditions
from march 26 to april 8 subscription for 163 mln of the 164 mln bonds of 240 francs nominal each will be reserved for shareholders holding 1309 mln shares of 50 francs nominal representing the companys capital of 65485 mln francs on the basis of one bond for eight shares held
mcgrath rentcorp mgrc sees net rising
analysts say the potential of santa fes land assets are likely to be realized slowly
the rights will be exercisable only if some one acquires 30 pct or more of centronics common or announces an offer which would result in ownership of 30 pct or more of the stock
brazils central bank governor francisco gros will meet senior commercial bankers here today in a new attempt to defuse the anger generated by the countrys unilateral suspension of interest payments on 68 billion dlrs of foreign commercial bank debt bankers said
britains department of trade and industry is investigating the takeover
us to sell 132 billion dlrs in bills
the season produced another good crop with only 02 pct of receivals being downgraded to feed quality he said
four seasons buying marriott mhs hotel
smolinski of data resources agreed that the surplus would persist until 1990
under the pact tokyo agreed to stop selling cut price chips in world markets and to increase its imports of american semiconductors
the local steelworker union narrowly rejected a tentative agreement with the company on may 14 it said
sterling in texas gas and oil discovery
ecuador president ratifies unilateral suspension of debt payments to private foreign banks
the shares were placed with about 45 to 50 institutions in europe and the far east
you do a brazil
wheat for domestic consumption rose six australs per tonne to 118
allied ald affiliate restates loss larger
byrd and house speaker jim wright a texas democrat have made trade legislation a priority this year and a wide ranging bill is being readied for probable house approval next month
we can negotiate them all samuels added
if the fed does act however they said it would be likely to add temporary reserves indirectly by arranging around 15 billion dlrs of customer repurchase agreements
june 30 end shr 33 cts vs 13 cts net 1687623 vs 636500 revs 187 mln vs 8973143 year shr 96 cts vs 66 cts net 4821637 vs 3309017 revs 588 mln vs 272 mln
rather the groups or individuals leading a takeover declare that they can raise the capital for a takeover without actually putting any of their own money proxmire said
the bonds currently dubbed alternative participation instruments would carry the same terms as the syndicated loan a 12 year term five years grace and an interest rate margin of 7 8 pct over eurodollar rates gonzalez said
but were probably not looking at a great deal of growth potential said ward mccarthy of merrill lynch capital markets
within one year after passage of the measure another eight countries would have to be visited peru kenya the dominican republic costa rica malaysia venezuela tunisia and morocco
the cmos were assigned a 765 pct coupon and par pricing
subsidiaries of john hancock mutual life insurance co told the securities and exchange commission they sold their entire 131 pct stake in price communications corp back to the company
despite current bullish sentiment in the med however traders noted that crude netbacks are beginning to look more attractive and most maintenance shutdowns should be finished in two to three weeks
the governments 14 major corporations rely heavily on budgetary support to supplement external borrowing to meet their yearly revenue shortfalls
the business of granting loans to poland is not as bad a business as you might imagine senior polish government spokesman jerzy urban told a news conference in stockholm
last week a group formed by theodore cross offered to acquire harper and row for 34 dlrs per share
the house today approved a bill requiring the reagan administration to report to congress on its mideast gulf policy but not restricting its actions
credit lyonnais is acting as coordinator for this facility
it will be listed in frankfurt beginning in may with no precise date yet specified
primerica corp said it completed the previously announced acquisition of smith barney inc for 750 mln dlrs in cash
the sideways price pattern in the june contract with smaller and smaller price ranges has formed a bull flag on price charts technically oriented analysts said
the world farm market suffers from surpluses because of rising production by exporting countries he added
tehran radio monitored by the bbc quoted a foreign ministry spokesman as saying any attempt at interference would be met by a strong response from iran and other moslems in the world us defence secretary caspar weinberger in remarks apparently unrelated to the broadcast said the us would do whatever was necessary to keep shipping lanes open in the face of new iranian anti ship missiles in the gulf
demand in 1986 rose 109 pct over 1985
mikulic visits west germany next week and debt is expected to figure high on the agenda of his talks with chancellor helmut kohl
world bank president barber conable should prod the government of president suharto towards further economic change the jakarta post newspaper said
commonwealth edison cwe files debt offer
the securities and exchange commission sec staff is seeking authority to take enforcement action against allegheny international inc the pittsburgh based industrial and consumer products firm said
lucky stores inc reinstates quarterly dividend at 125 cts per share
under current law the basic support prices for upland cotton rice and soybeans between 1987 and 1990 cannot be cut below 50 cents per lb 650 dlrs per hundredweight and 450 dlrs per bushel respectively
britoil sees lower uk exploration expenditure
the national livestock and meat board will receive 644000 dlrs to continue work in educating health care officials
continental can said it would supply nestles equivalent can requirements under a long term agreement
nuclear data cited improvement in printed circuit board sales and said it is confident it will obtain replacement financing
super valu stores inc svu 4th qtr feb 28 net
1986 1st quarter amounts do not include rockport as reebok acuqired that company in october 1986
the company anticipates that the price of the offering will range between 13 dlrs and 15 dlrs a share
gould did not disclose terms of the deal
brown said the abandonment rate this year was pretty high at 155 pct because of weather problems in key producing states
philip crosby jr executive vice president said normal accounting adjustments as well as a review of the companys international operations due to a previously reported alleged embezzlement resulted in the lower results
comex raising margins for gold and copper futures effective at todays opening official
speaking in a televised news conference linking several european capitals shultz said it was heartening that the japanese had confronted the problem of stimulating domestic and global demand
the central bank bought bank bills outright comprising 51 mln stg in band one at 9 7 8 pct and 135 mln stg in band two at 9 13 16 pct
however the analysts said more is at stake than supercomputer sales as the us fears it is losing its vital semiconductor industry to japanese competitors
but while the terms are in line with the market they are somewhat tight bankers said
he rejected suggestions the korean won is undervalued and denied any plans for a drastic and sudden revaluation
latest federal reserve data suggest that the central bank voted to maintain the existing degree of pressure on banking reserves at its regular policy making meeting two weeks ago money market economists said
the redstone offer which is being made through arsenal holdings inc a national amusements subsidiary set up for that purpose which also give viacom shareholders one fifth of a share of arsenal common stock after the takeover
todays announcement that catholic relief services caritas can import 730 jamaican pigs comes after months of protests by farmers who had owned 90 pct of the slaughtered pigs
one month rates were at the same level after trade at eight then 8 1 2
he said it was a natural step for an internationally known company whose shares are noted in tokyo and stockholm and are traded over the counter in the united states
selling period for the bond which dealers say has been seeing good demand has been accelerated to noon on friday
ldbrinkman corp chairman ld brinkman and members of his family said they cut their stake in cenergy corp to 3647 shares or 04 pct of the total outstanding from 912147 shares or 94 pct
last week the white house imposed unprecedented tariffs on certain japanese electronic goods after tokyo failed to adhere to a semi conductor pricing accord between the two countries
if the effect of this crash is to produce slower economic growth not recession it contains good news and provides a more realistic assessment of the us economy said capels dennis
jp morgan and co bankers trust new york corp btn manufacturers hanover corp mhcn and chemical new york corp fnbfn have asked for securities business licenses
gateway medical systems inc 3rd qtr loss
cut were the parents senior debt to ba 3 from baa 2 and commercial paper to not prime from prime 2
our employees are asked to continue to return to work at 8am unless otherwise notified he said
qtly div 31 cts vs 31 cts prior pay april 24 record march 31
malaysia which produced 117000 tonnes of cocoa last year might be forced to withhold up to 70000 tonnes worth some 30 mln ringgit under such a measure in the long term and this might affect their economic viability they said
senior japanese officials tomorrow open talks with american trade negotiators in a last ditch effort to avert new high us tariffs to be imposed on a wide variety of japanese electronic exports
in a filing with the securities and exchange commission gfi said it sold 114000 allied products common shares on march 3 at 42 dlrs each and donated another 4746 shares to two universities
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
the association grouping private shipowners syndarma has also offered 120 pct but talks have so far been deadlocked over payment for overtime
great gami to buy standard srd units assets
john wiley and sons inc willb sets quarterly
major us banks move to higher 7 3 4 pct prime
1985 year net includes 616000 dlr loss from discontinued operations and 106 mln dlr gain on their disposal
the company said it expects revenues for the first quarter to be somewhat higher than revenues of 329 mln dlrs posted for the year ago quarter
during the interview durham and other executives also said continued strong demand and tight copper supply should lead to higher prices for the metal
shr 51 cts vs 46 cts shr diluted 44 cts vs 41 cts net 2267000 vs 2055000 sales 873 mln vs 704 mln nine mths shr 120 dlrs vs 112 dlrs shr diluted 107 dlrs vs 103 dlrs net 5318000 vs 4958000 sales 2437 mln vs 1987 mln
the issues will be dated and delivered on april 1
japans trade surplus is expected to narrow slightly to 902 billion dlrs in 1987 88 ending march 31 from an estimated 98 billion in the current fiscal year it said
in a filing with the securities and exchange commission the group which also includes individual investors and a non profit foundation said it bought the stake for 884414 dlrs as an investment in the anaheim calif company
the final duty will be based on more detailed information the officials said
in that year company changed to calendar year from previous fiscal year ended april 27 1985
oman has granted term crude oil customers retroactive discounts from official prices of 30 to 38 cents per barrel on liftings made during february march and april the weekly newsletter middle east economic survey mees said
the payment date is april 30 and there will be a short first coupon period
mcdermott international inc said the purchase of a 54 pct block of its stock was an apparent violation of the laws of panama its country of incorporation
newmont nem stake in du pont dd declines
it said 600000 dlrs of the loan will cover the foreign exchange costs of consultancy services equipment and training abroad for technical and financial personnel
there will be no co managers
company is a subsidiary of switzerlands bbc ag brown boveri und cie bbczz
keystone has two affiliates with combined assets of 205 mln dlrs
echo bay has nevada gold discovery
cocoa consumers accept compromise buffer plan
a unanimous supreme court ruled that oil and gas exploration can proceed on two tracts off the alaska coast which were leased by the federal government to eight major oil companies
gencorp gy rejects unsolicited takeover bid
many have converted to full subsidiary status and applied for a full banking licence over the last two years in order to lead manage mark eurobonds
judys inc judy 4th qtr jan 31 loss
also as loan rates get lower collins said there would be more incentives to participate in a 0 92 program
he pointed out that the regions debt rose by only 28 pct last year to a total 396 billion dlrs
norwegian tankers supplied south africa with about 30 pct of its crude imports during the early 1980s but the trade has dropped sharply to just one cargo in the last three months trade ministry officials said
southern national corp snato 1st qtr net
usdas intention to propose scrapping price floors for cotton rice and soybeans had not been disclosed previously
seipp said that because about half the groups exposure to problem nations was in dollars the bank had swapped into dollars individual provisions hitherto held primarily in marks
shr 40 cts vs eight cts net 2292000 vs 465000 revs 819 mln vs 789 mln nine mths shr 120 dlrs vs 101 dlrs net 6842000 vs 5755000 revs 2447 mln vs 2342 mln note 1986 qtr and nine mths includes loss 2223000 dlrs or 39 cts per share from unspecified extraordinary item
however falling orders and declining international competitiveness due to the strong yen led to heavy losses in the industry the sources said
the assests to be acquired by the partnership are valued at 190 mln dlrs union pacific said
it noted that earnings more than doubled in 1986 to 454 mln dlrs
affiliated publications to buy billboard publications for 100 mln dlrs
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
the long term outlook for our sulphur operations remains bright the company said
us diplomatic missions on high alert over gulf
rossignol unit buys canadian ski boot maker
rotterdam and amsterdam have since followed with programs of 400 mln and 300 mln guilders respectively
the company said the costs of a restructuring at its carter hawley hale stores inc unit and the previous purchase of an 85 pct stake in cadbury schweppes plc will lead to the flat net figure
mortgage bankers strongly opposed the proposed fee increase
shamrock capital lp said it has completed the sale of cental soya co inc to ferruzzi agricola finanziaria the holding company for the ferruzzi group of ravenna italy
the semi official anatolian agency recently quoted turkish minister of industry and trade cahit aral as saying turkey would export 100000 tonnes of sugar this year and import the same amount
the company also said british petroleum co plc bp last week refused to accept an order for fuel oil
licht last week estimated west german plantings at a reduced 385000 hectares against 399000 last year
a recent report by the organisation for economic cooperation and development pilloried french industry for failing to produce the goods that its potential customers wanted
the government is also proposing a novel solution to its debt to commercial banks some 900 mln dlrs on which interest has not been paid since march 1984
the dollar firmed slightly from its opening 18135 45 marks in very quiet pre weekend trading and dealers said they expected business to remain thin this afternoon
nz unemployment rate 39 pct in december quarter
it said iranian charge daffaires mohammad baqeri was summoned by the ministry yesterday to confer with foreign undersecretary suleiman majed al shaheen
the dollar was being quoted at 60950 70 francs in early afternoon dealings after a fix of 609425 francs
shr 18 cts vs six cts net 17 mln vs 610000 revs 687 mln vs 635 mln
analysts said computer associates paid a premium for uccel
west germany now has options contracts on about five pct of shares and bonds traded on exchanges here covering only about 30 pct of the average traded volume stock market sources said
ongpin said manila is sticking to its demand of a spread of 5 8 percentage points over london interbank offered rates libor for restructuring 36 billion dlrs of debt repayments
venezuelas new margin last month was only a 1 4 point drop from the rate agreed in a rescheduling accord in 1986 the bankers said
in a speech to 13 major business groups aquino said our policy has been very clear fm the start growth must take priority for the plain and simple reason that if we have no money to pay we cant
the contribution to overall february 1987 volume from idb business was 4310 billion stg against 4319 in january
after g 6 round one goes to central banks
bankamerica stressed that it expects brazil will eventually reach a debt rescheduling agreement which will provide for the payment of interest being deferred in 1987
marathon national bank year net
payment is due may 14 and coupon date is may 15
he declined to be identified but said pdvsa has the capacity to refine about 650000 bpd of crude oil from refining centers in venezuela sweden west germany belgium and the united states
estimates at the time showed a french 190 mln franc surplus for december 1986
but the meat and poultry industries have said such controls would cost too much
swires stake in cathay was first reduced to 5425 pct from 70 pct when cathay was publicly floated and then cut to 5025 pct when cathay issued new shares amounting to 12 pct of the enlarged capital to the state owned china international trust and investment corp cathay last week reported its 1986 profits rose to 123 billion dlrs from 777 mln a year ago
malaysian treasury bill rises at latest tender
oper shr loss six cts vs profit seven cts oper net loss 481517 vs profit 487432 revs 7492686 vs 5575043 avg shrs 85 mln vs 72 mln year oper shr loss six cts vs profit 34 cts oper net loss 465043 vs profit 2283811 revs 295 mln vs 198 mln avg shrs 78 mln vs 67 mln note excludes extraordinary credit of four cts a share in fourth quarter 1986 and 15 cts in year
it would take about five months to repair the pipeline to balao government officials said
mcivor an exxon corp xon director and senior vice president told in an interview
shr loss 130 dlrs vs profit 29 cts net loss 334 mln vs profit 7386000 sales 1682 mln vs 1284 mln year shr loss 161 dlrs vs profit 30 cts net loss 414 mln vs profit 7055000 sales 5275 mln vs 3667 mln note latest year net both periods includes 394 mln dlr provision for closing 25 underperforming stores
bankers said they would relay the brazilian request for an extension but declined to say whether they were specifically endorsing it
the companies entered into a merger agreement on january 27 and made their initial findings with the department of justice and the federal trade commission on february three
ryland group inc ryl sets quarterly
this was the 12th consecutive quarterly gain the company said
in deciding what response to make to the steep stock price drop the bank of japan must first determine whether prices will continue to fall further and then decide if they pose a greater economic danger than the threat of higher inflation one central bank official said
the beijing santiago copper tube co involves an investment of 993 mln dlrs and will on completion have a production capacity of 5000 tonnes of copper tubes a year it said
in addition the company said its bank irving bank corp v agreed to waive a one mln dlr counter guarantee for the bank to provide a 26 mln dlrs guarantee for regencys federal maritime commission bond
bank of new zealands base rate drops to 22 pct from 23 on june 16 and national bank of new zealand ltds rate falls to 2150 pct from 23 on june 15
sugar market sees good recent offtake
meeting in closed session the house ways and means committee agreed to allow president reagan to retaliate against foreign countries that refuse to open their markets to us telecommunications products
chinese banks to issue more bonds official says
martin processing inc mpi 1st qtr net
toshiba unit to enter uk telecoms market
price details were not reported
nainggolan said that the exchange was trying to boost overseas interest by building up contacts with end users
as ive said before we sort of see ourselves as engaged here in a real struggle to preserve the worlds free trading system because if the largest market in the world the us goes protectionist we run the risk of moving down the same path that the world did in the late 1930s he said
energen corp said it has acquired the distribution system of the city of clanton ala
unilever plc and nv combined 1986 pre tax profit 114 billion stg vs 953 mln
he said lawson had made no commitments to support brazils efforts
shr nil vs loss 10 cts net profit 2936 vs loss 170866 revs 4147248 vs 1091392
he said he and economy minister juan sourrouille had discussed argentinas loan request with world bank vice president david knox who is currently in buenos aires
despite the lower cost to borrowers the dutch market for commercial paper and certificates of deposits is growing only slowly in the face of the well developed kasgeld market and institutional investors have hardly discovered this instrument meys said
the report indicates the realization of the companys assets is dependent on it obtaining enough working capital to finance operations and additional funds to meet other liabilities among other things
the tribunal upheld a countervailing duty of 849 us cents a bushel
the newspaper quoted deng as saying that the situation has reached the point where pigs are not fed there is not enough grain and increases in output have slowed we should in our overall economic planning put agriculture in its proper place to reach our target of 480 mln tonnes by the year 2000 he said
chrysler corp said electrospace systems inc agreed to be acquired under a merger agreement in which chrysler will tender 27 dlrs a share for 100 pct of the richardson texas based defense electronics contractor
february broad money growth was steady at 07 pct from the previous month and unchanged from february last year
it reported net recoveries of six mln dlrs after charge offs of eight mln compared with net charge offs of 49 mln dlrs after recoveries of three mln a year earlier
net 5521000 vs na revs 3581 mln vs 3590 mln year net 553 mln vs na revs 143 billion vs 134 billion note current year includes earnings of 496 mln dlrs for the four months ended april 30 1986
the education project will be supported by a 145 mln dlr loan through the international development association the banks concessionary lending affiliate the bank said
redemption will be in seven equal tranches after the eighth year and payment date is april 6
as reported audis sales in the us dropped nearly 20 pct to 59800 last year
braverman said tax law changes and inventory accumulation helped lift fourth and first quarter gnp growth respectively
a key house trade lawmaker representative richard gephardt also announced he would seek to force japan and other countries with huge trade surpluses to slash their surplus by 10 pct a year for three years
shr 15 cts vs 18 cts net 4500000 vs 5300000 revs 1567 mln vs 1520 mln year shr 72 cts vs 111 dlrs net 217 mln vs 330 mln revs 6954 mln vs 6535 mln note shr profit relates to class b non voting shares
indonesian agriculture growth expected to slow
the remainder of the price will be a one mln dlr note to eskey
it said approval would require 66 2 3 pct of votes cast
west germany takes very seriously the recent undertaking by major industrial countries to promote exchange rate stability around current levels finance ministry state secretary hans tietmeyer said
the china daily said last month that grain output should reach between 425 and 450 mln tonnes by 1990 and between 480 and 500 mln by 2000
however maki quoted kato as replying that japan was already the worlds largest grain importer
lm ericsson telephone co of sweden said it was awarded a 75 mln dlr contract to supply its alfaskop computer terminals to the west german bundespost west germanys telecommunications and postal administration
chrysler corp said it will use a product designed by telecredit incs light signatures inc unit to prevent counterfeit automotive parts
burmah oil prospects remain favourable
harkin acknowledged that higher commodity price supports would be passed onto consumers but he said high food prices stem more from gouging by food processing companies than from high farm product prices
however morgan officials said holders of the zero coupon bonds will not be paid in cash when the securities mature
in anticipation of this liquidity drain banks have stocked up reserves at the bundesbank
sooner or later progress must be made in controlling excessive federal spending he said
traders said it is conceivable that a trial date could be set or some progress made on an out of court settlement
commonwealth aluminum comalco said it put its goldendale wash smelter back on the market after would be buyer columbia aluminum corp of hermiston ore failed to pull together financing by an april one deadline
crude oil futures followed but gasoline futures lagged
net yield on the preceding issue was 946 pct
us february trade to be reported on new basis
shr seven cts vs 10 cts net 127000 vs 168100 revs 2807400 vs 3042900
indonesia expects the recent years rise in its debt service ratio to peak at the current level of 41 pct development supervision minister ali wardhana told journalists
paradise fruit co inc said its board declared a dividend of 25 cts per share payable march 31 to holders of record march 19
nz s chase corp makes offer for entregrowth
assets of money market mutual funds increased 7204 mln dlrs in the week ended yesterday to 23690 billion dlrs the investment company institute said
david ruder a 58 year old republican law professor at northwestern university in evanston ill was named thursday to be the 23rd chairman of the five member us securities and exchange commission
dividend 34 cts vs 34 cts previously pay april 15 record march 23
the securities will be listed in luxembourg and are available in denominations of 1000 and 10000 dlrs
ireland put on colorado beetle alert
indonesian export commitments and domestic requirements are both running at high levels oil world said and it expects the countrys imports to reach a record 110000 tonnes during jan sept
these samples would be mailed to a laboratory facility for aids screening
he said he does not expect the dollar to collapse and thinks interest rates are likely to fall back later this year
escom says targets met without foreign finance
reserve money the total available to monetary authorities was a provisional 5258 billion pesos at the end of 1986
the 1800 customer system is the fourth municipal system acquired by energens alabama gas subsidiary since october 1986 adding a total of 9600 customers
however a new securities repurchase pact likely to be added next week to replace a facility expiring then could somewhat offset the drain
there is widespread agreement internationally that we have no alternative to floating currencies in the short to medium term
the statistics office said the march increase reflected rises in certain sectors such as food clothing and household goods and falls in transport heating and lighting
beghin say says sugar offer to ec still stands
japanese chocolate imports rose to 8285 tonnes in calendar 1986 from 5908 in 1985 official statistics show
phelps dodge also said it is calling for redemption on the same date its privately held series a preferred stock
argentinas chief debt negotiator said he was confident of a prompt accord with international creditor banks for rescheduling the countrys foreign debt
nippon life staff will also acquire expertise in business sectors which have not yet opened up in japan they added
european trade sources said the conference welcomed the canadian initiative but some delegates and not only the european community voiced reservations about some of the principles
christopher sibson secretary general of ipma in explaining why the recommendation was adopted said it is aimed at the problem of the lead manager who does a deal and disappears sibson said the organization cannot force its members to adhere to the rule
semicon tools inc making acquisition
cocoa exporters expected to limit sales
most operators are expecting a base rate cut today possibly of one point following yesterdays budget in which the uk public sector borrowing target for 1987 88 was slashed by three billion stg
swedish match ab smbsst said it was selling one of its portuguese subsidiaries sociedade de iniciativa e aproveitamentos florestais sarl siaf to the porto based sonae group for an undisclosed price
the company is selling 697500 shares and shareholders the rest
the committee also voted for legally binding quantity and quality requirements on the materials mostly metals
about eight billion marks were coming into the market tomorrow from salary payments by the federal government
the bubble of frustration against what appears as japanese prevarication burst last week
shr profit 78 cts vs loss 105 dlrs net profit 2336000 vs loss 3002000 revs 260 mln vs 267 mln year shr profit 159 dlrs vs loss 635 dlrs net profit 4688000 vs loss 182 mln revs 1135 mln vs 1124 mln note 1986 4th qtr and yr includes loss carryfoward of 534000 dlrs and 1662000 dlrs respectively
morgan crucible pretax profit rises 61 mln stg
although banks are anxious to develop a market for medium term notes only a few companies such as electrolux ab and pepsico inc have gone so far as to arrange one
jp stevens and co stn in payout
britain to mint new britannia gold coin
one lock system in the four lock soo canal joining lake superior with huron was opened on the morning of march 22 but only three commercial vessels have been locked through so far according to an us army corps of engineers official
oil revenue last year when prices briefly dipped below 10 dlrs per barrel probably totalled no more than 175 billion dlrs compared to a peak 1018 billion in 1981
private analysts have said that the financing of large us budget deficits requires heavy capital inflows from overseas investors through purchases of us treasury and to a lesser extent other us securities as well
blackburn said he currently estimates that at thee prices for its products the company will have a cash flow of about 280 mln dlrs
disney would then acquire privately held fidelity for about 103 mln dlrs and other adjustments
japanese crushers continue to concentrate on rapeseed purchases since it converts to a higher percentage of oil than other oilseeds they said
at a news conference earlier on tuesday stoltenberg had declined to comment specifically on bakers criticisms but he had said that after three hours of discussions on monday one remark or another has been clarified
french free market cereal export bids detailed
several firms were expected to cut back drastically on the list of frns traded with most volatile paper first to go
corrected national westminster bank usa 1st qtr
the increase in us banks prime rates prompted concern about renewed inflation but the strength of the us dollar discouraged new buying
the agency cut the senior debt of baker and its finance unit baker international finance nv to baa 1 from a 2
am international inc am 2nd qtr jan 31
to raise cash in the near term first city said it may sell or mortgage non strategic assets recover excess contributions to its pension plan and obtain special dividends from some of its member banks
seal said it will pay up to an additional 13 mln dlrs contingent on the market price of seals common on december 31 1988 and on certain earnings targets by the acquired business
abbey national the second largest building society in the uk said it has arranged a one billion dlr euro certificate of deposit program
gull gll in private sale of notes
it added it expects to close the deals on june 18 and 19 subject to standard closing conditions including title and environmental approval and closing of a definitive agreement
watanabe said the post and telecommunications ministry wanted only one competitor for the time being because of the size of the japanese telcommunications market and that foreign investors will only be allowed to hold a minority stake
bobbie brooks inc bbks year net
the prime rates were raised to 7 3 4 from 7 1 2 pct and the timing of the moves puzzled many dealers
one receives all the principal payments from the underlying pool of mortgages and the other receives all the interest
it found that businessmen visiting tokyo spend on average more than 300 dlrs a day
a mitsui and co mitst spokesman said its subsidiary mitsui and co usa inc bought two mln dlrs of newly issued shares in imatron inc an unlisted california based medical equipment manufacturer
osborn communications corp initial offering of one mln shares of common stock and 30 mln dlrs of senior subordinated ten year notes through a group led by ef hutton and co inc
producer delegates said that while the possibility of reimposing quotas before october remained on the ico agenda in practice the idea had effectively been discarded
sun co last changed its crude postings on march 4
waterwhite resins are widely used in adhesive applications for baby nappies medical tapes and other bonding agents
caesars world inc declined immediate comment on news that martin sosnoffs mts acquisition corp has held preliminary talks with two companies on the possibility of forming a joint venture to pursue the acquisition of caesars
shr 20 cts vs six cts net 861000 vs 266000 revs 102 mln vs 6036000 note 4th qtr data not given
this would be equal to about 25 pct of the total winter crop and would be the second highest winterkill in ten years the usda analyst said
transco energy co said on april 10 it will redeem all 707905 outstanding shares of its 3875 dlr series cumulative convertible preferred stock at 5117 dlrs per share plus accrued dividends of 74 cts
the flotation plan has been interpreted by financial analysts as a means of helping finance the acquisition of the cpc business
february imports were 919 billion dlrs against 923 billion in january and 986 billion in february 1986
in the statement on its official results for 1986 it also confirmed provisional results given on march 2 stating a 1986 net profit of 932 mln guilders against 573 mln in 1985
the new rate if unmatched by other banks will be the lowest among australian trading banks
the company said the plant is expected to starft operating by the fourth quarter of 1988
in the three months to end april such costs were 09 pct higher year on year compared with a rise of 12 pct in the three months to march
analysts noted that the budget contains provision for a two pence in the pound cut in the basic rate of income tax in line with most market expectations although some operators had expected a cut of up to four pence in the pound
chirac sees quick decision on cgct
ryder system inc rdr 3rd qtr net
in contrast to the last two years more competitive exports boosted by the fall in the dollar should help gnp growth
avia group international inc stockholders filed a class a action suit in multnomah county circuit court seeking to halt the sale of avia to reebok international ltd rbok avia stockholders also seek to receive compensation from the defendants who include most of avia directors according to court papers
russell said the bank had two statutory responsibilities to implement the governments monetary policy to bring down inflation and to ensure the financial sectors stability
it said the two firms will use the money to construct the olympic hotel with 14 storeys and 380 rooms near pekings largest indoor stadium to cater for participants at international competitions and tourists
acton corp said it has agreed to sell its five michigan cable television systems to wisconsin cablevision inc for about 9500000 dlrs resulting in a gain of about six mln dlrs
union bank of switzerland will act as dealer for a specific program which is aimed at smaller retail investors
first it is viewed he said by some as welfare
lo said csbc has made losses of about 100 mln us dlrs since beginning operations in 1975
but when demand is sluggish in summer they will phase down term purchases of saudi lpg and secure lower priced cargoes on the spot market they said
grain fixing was much quieter out of the us gulf with no fresh business seen on the significant routes to the continent or japan although tonnage was secured for at least five small corn cargoes from the gulf to jamaica at between 21 and 25 dlrs
both the ministry and central bank officials who declined to be named noted the us no longer wants to see a further decline of the dollar because that could also fan inflationary expectations in the us thats why baker did not fail to add that the louvre agreement is still operative the senior ministry official said
new orders for manufacturing industry goods have mostly fallen or stagnated in recent months but data for february finally showed a reversal of the trend with a 19 pct rise
the industry is not as worried as it was two weeks ago but rainfall is still below normal and good soaking rains are needed in some areas notably in the burdekin and mackay regions he said from brisbane
montedison said it named ettore dellisola to the newly created position of president of agrimont
ed jenkins a democrat from georgia agreed to hold off his fight
sony will have an irregular five month business term ending march 31 as its financial year will be changed to run from april 1 to march 31 from the current october 31 year end
a 27 pct rise by the electronics industry on higher output of facsimile machines and video tape recorders was a major contributor to the rise in february industrial output though car production fell from january
baird corp said the massachusetts state court for suffolk county has granted it a temporary restraining order prohibiting mark iv industries inc iv from further purchases of baird stock until mark iv complies with the massachusetts anti takeover statute
edward johnson of johnson redbook said he recommends selling
gulf and western gw ups interest in network
de la serre said the bank was likely to attract at least the same number of investors as sogenal another recently privatised bank in which 850000 people bought shares
carlton communications plc has started the current financial year well with accounts for the first four months showing a healthy increase on the same period last year and chairman mp green told the annual meeting he looked forward to 1987 with optimism
lennar corp chairman and president leonard miller said the current backlog of orders and the strong economy point to strong revenues and earnings for the balance of fiscal 1987
so long as edelmans stake is below five pct he is not required to report his dealings in lucky stores stock
i would imagine by about the middle of the month march the general trading manager of an international oil company told in a telephone interview
shr 31 cts vs 31 cts prior payable april 24 record march 31
interco iss shareholders approve merger
a western diplomat said chinas foreign debt needs careful management but its debt service ratio remains very low at six to eight pct
of the total 400 billion yen will yield 38502 pct on sales from money houses to banks and securities houses in a 41 day repurchase accord maturing on may 19
the stock was sold to an underwriting syndicate managed by dillon read and co inc and donaldson lufkin and jenrette securities corp with the underwriters paying 383 mln dlrs and unc paying 164 mln it said
wendys retreated from an earlier high of 13 3 8 and lost a point when coca cola ko said the rumors were untrue
citicorp is the largest bank group in the us and one of the biggest lenders to latin america with some eight to nine billion dlrs outstanding to brazil mexico and argentina bank analysts said
previously the fed jan
by 65 pct to 100 pct a siemens spokesman said
one of the most visible changes in retail car sales has been in the size of dealerships auto analysts say
transcontinental tgp files new offer
ec business also had a remarkable year in japanese sales but this can be explained partly due to its start from a small base compared with total japan us trade
the us currently belongs to only two international commodity agreements that have economic clauses the international coffee agreement ica and inra but it is also a member of the sugar and wheat pacts
neuman who transferred the stock nearly two years ago to the tudor trust of which he is trustee said the trust sold the entire stake in a private deal on june 9 at 1100 dlrs a share
one official attending the washington talks with brazilian finance minister dilson funaro said theyve come in here now and said look were out of money help us but they havent come in with a plan
the company said the panoche facility remains closed but is expected to reopen for liquid and sludge receipts in the near future
all three figures are well below the swiss average for recent years
enseco inc ncco 4th qtr loss
this would make five cents for the year against a first and final of one cent in 1985
banmiller will continue as aircals president and chief operating officer
ongpin has said that us regulators and accountants had given a green light to his idea but bankers are not so sure
und westbank ag vhbgf plans to streamline its branch network to improve its distribution of financial services management board member eberhard rainer luckey said
after months of wrangling over the worth of shell oil royal dutch shell agreed to another two dlrs increase
conable warns protectionism might spread
a total of 225 mln dlrs is payable on completion 15 mln will be injected into the business through an interest free loan and the expenses of the acquisition amount to 660000 stg
the suit filed by polaroid in april 1976 charges that kodak infringed upon polaroids instant camera patent
the treasury also proposed allowing us origin goods to be imported temporarily from south african state controlled organizations for repair or servicing in the us the south african sanctions law enacted by the us to protest the apartheid laws of racial segregation practiced by south africas white minority government prohibited imports of uranium ore and oxide iron and steel coal and textiles at the end of 1986
trading did not open in these issues either
us wheat groups call for global action
foreign bankers here said the pact gave manila the largest interest rate cut among major debtor nations
officials said the study will be undertaken with the help of the world bank which is also expected to give financial support
texas international tei has unqualified audit
the series of strikes in the sector started on january 19 in protest at employers plans to make 800 redundancies from the 4000 strong workforce by 1990 starting with 350 this year
hj heinz co said its board of directors has elected anthony oreilly chairman of the board succeeding henry heinz ii who died on february 23
hanson trust shows sharply higher half year profit
no official reasons for the resignation were immediately available but sources close to the government said sayad had pressed for a three month price freeze and sharp government spending cuts to combat inflation
parker drilling co said its board of directors voted to suspend the payment of dividends to shareholders
fourth national corp said an investor group led by management has acquired a 73 pct stake in the company from interfirst corp ifc a dallas bank holding firm
the banks are anxious to come to an agreement but bankers were reluctant to predict whether the talks would end successfully
bankers said the aaa accord negotiated by a committee led by saudi british bank is a likely model in that banks have not insisted on full repayment of all obligations
he also said a more stable and sustainable alignment of exchange rates was needed for long term growth
in addition holders will be able to surrender half the bonds during may 1991 at 123 pct for a semi annual yield of 7043 pct and the other half in may 1993 at 140 pct for a yield of 7383 pct
great american bancorp grtb 4th qtr net
comerica inc cmcao 3rd qtr net
the ico 15 day average price stood at 11466 cents a lb for march 2
at the same time however the official expressed reservations that such a scheme would ever get off the ground
taft have requested a response from taft broadcasting co by march 12
meanwhile there were strong rumors in new york that the fed also bought a modest amount of dollars around 14850 yen today
moodys said it calculated end of month index values back to december 1979
philip crosby pcroo makes acquisition
the country had recently increased its capital suscription in the institution by about three mln dollars
id say its 99 plus pct sure that it the tariffs will not provoke a retaliation on american products yeutter told cable news network
shr loss nine cts vs loss 12 cts net loss 649000 vs loss 850000 revs 5059000 vs 4084000 avg shrs 7041000 vs 6900000 note current year net includes charge 152000 dlrs from amortization of previously capitalized software costs
he said in addition to the reduction in amortizations over the next three years sought by the government agreed at 135 billion dlrs instead of 3335 billion venezuela will also pay less in the subsequent three years
the singapore government has taken over 82 mln dlrs worth of goodwood park hotel ltd shares and loan stock certificates belonging to the companys chairman khoo teck puat banking sources said
whether this meeting will prompt any us action on the issue of whether moscow will be offered export bonus wheat is uncertain the aide said
laenderbank managing board member herbert cordt told that demand had been strong throughout europe
bc resources has agreement on credit facility
the report also favoured retention of the liras six pct oscillation band with the european monetary system ems during the liberalization process in order to lessen short term domestic interest rate fluctuations which could result from portfolio adjustments
europeans especially do not have much indigenous oil and gas and realize the tide will eventually turn in favor of the organization of petroleum exporting countries he added
japan intervening to keep dollar up brokers
on thursday bear stearns and co sole managed a 100 mln new zealand dlr offering of three year floating rate notes issued by ford motor credit co a unit of ford motor co f the initial rate for the notes will be set on april 15 and quarterly after that at 200 basis points below the 90 day new zealand bank bill rate
us authorities intervened in the foreign exchange market to support the dollar on one occasion during the period between the start of november 1986 and the end of january the federal reserve bank of new york said in a report
profit taking which robbed the currency futures of some momentum today is likely to continue he said
japan ready to use diplomacy for gulf security
chemlawn had said last week that it was negotiating with other possible suitors which it did not identify
the company said it expects to proceed with a merger and has advised cyclops it intends to increas the per share amount to be paid in the merger to 95 dlrs form 9025 dlrs for each of the about 880000 remaining cyclops shares outstanding on a fully diluted basis
south koreas 1987 gnp seen growing nine pct
we have no intention of revising the terms of the accord he said
its not unusual for a stripper well to cost 18 dlrs malmgreen said
a basic condition will be that it does not go back to the market in one go but is sold over a minimum of six months
fed not expected to take money market action
midland co said its board declared a two for one stock split subject to approval of a doubling of authorized common shares at the annual meeting on april 9 and an increase in the quarterly dividend to 12 cts pre split from 10 cts
duqusne has baa 1 senior debt and preferred stock and baa 2 debentures and preference stock
by the year 2000 only 10 developing nations will still be exporting timber from 33 currently and their export earnings will drop from a 1980 peak of 68 billion dlrs to less than two billion a world bank and un sponsored survey said
in the single week to wednesday banks borrowings at the discount window less extended credits averaged 302 mln dlrs compared with 228 mln dlrs in the first week of the statement period
conracs president vice president and treasurer were given severance agreements or golden parachutes it said
an increase of some 23 billion dlrs is expected
moore mccormack mmc to sell globe unit
hanson trust plc said kaiser cement shareholders today approved the previously announced merger agreement making kaiser cement an indirect wholly owned unit of hanson trust
that is 97 basis points more than the yield of comparable treasury securities
sterling would have risen on the much better than expected number but for market nerves about the poll outcome they said
analysts said entertainment marketing whose revenues and profits quadrupled in 1986 may be looking to break into the highly competitive new york city retail market for consumer electronics the nations biggest at a time the fortunes of electronics retailers have sagged
the sources said the rescue programs for the two projects were larger than earlier expected reflecting japans desire to help develop the economies of indonesia and brazil and to stabilise sources of aluminium
krung thai bank to take over sayam bank
the company said the 51 pct balance will continue to be owned by malaysia apera group of private investors
applied data adcco to buy dateline
he said the eurofer plan in particular fails to pinpoint the scope for closure in heavy hot rolled wide strip products typically produced in plants employing thousands of people
many economists now believe that the dollar has fallen far enough to ease the trade deficits drag on the us economy
general electric cited the strong results in tv network and station operations of the national broadcasting co which was not part of ge in the first quarter of 1986 as one reason for its strong earnings
the liberian motor bulk carrier trave ore 106490 dwt loaded with ore and the 2852 dwt west german motor vessel christa collided late last night on the river elbe near buoy 129 lloyds shipping intelligence said
callon petroleum co said its auditors will qualify their opinion on 1986 financial statements due to questions about callons ability to continue as a going concern
murray said that as a result of lower debt and more efficient operations the company is now is a position to seize opportunities that may become available and use this strength in whatever way best builds shareholder value
yen may rise to 140 to the dollar nikkeiren says
however industry sources estimate output at about 65 tonnes a year with exports put between 11 and 31 tonnes
bastian said alternatives being considered include an attempt to acquire cosmo through a merger tender or exchange offer seeking to influence the companys management and policies and seeking representation on cosmos board of directors through a proxy contest or otherwise
the result has been a modest improvement in tanker rates
epitope inc epto 1st qtr dec 31 loss
the sources said the question of to what extent price adjustments should be automatic remains a problem
india is likely to press for international export quotas at a meeting of coffee producers in london this week because of depressed prices he added
labatt 38 pct owned by brascan ltd brsa said brascans 49 pct owned great lakes group inc agreed to acquire 75 mln dlrs of the debentures from the underwriters
he said an agreement was initialled on a visit last week by ecuadors deputy energy minister fernando santos alvite
period ended january 31
the 0 92 plan is scheduled to be discussed at 1530 est
the increase brings phillips posted price for the west texas intermediate and west texas sour grades to 1750 dlrs a bbl
the company said maple leaf had 1986 sales of 819 mln canadian dlrs and an after tax profit of 163 mln canadian dlrs
zambia has just completed a new round of imf talks on its foreign exchange system and has obtained enough commercial loans to pay off its imf arrears for 1985 and 1986 paving the way for a new stand by credit
the comex fined four large firms a total of 100000 dlrs for failure to resolve unmatched trades in a timely manner
roger hemminghaus president of diamond shamrock refining and marketing co said he was enthusiastic about the future adding that he expected an increase in profitability by midyear
it also said that it expects to have sufficient cash flow to cover its annual payout of 60 ct per unit and expand its drilling budget in 1987
british land of america inc bla year march 31
the foreign currency purchased was used by the treasury to repay foreign debt and did not affect the banks foreign exchange reserves
this scenario put japans gnp growth at 35 pct a year
shr three cts vs seven cts net 521 mln vs 112713 revs 51 mln vs 44 mln six months shr five cts vs 15 cts net 75605 vs 244119 revs 95 mln vs 95 mln
japan security pacific finance is a wholly owned subsidiary of security pacific international finance inc which is owned by security pacific corp
sheikh ali also delivered a challenge to any international oil company that declared kuwait sold below official prices because it was charging its official price of 1667 dlrs a barrel it had lost custom he said but did not elaborate
however baldrige warned measures that would penalize 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
bindley western industries inc bind 4th qtr net
renouf corp of new zealand said it has decided to proceed with its offer for all outstanding units of benequity holdings at 31 dlrs per unit
pesch would not elaborate on what type of financing arrangements are being made
the rate on the key three month cds in the primary market was 408 00 pct while the banks bid was 375 pct they said
ford f credit unit sells notes at 813 pct
we will urge that they consider sharing their rice market he said
petroleum futures trading at the new york mercantile exchange literally set spot market prices in the us he said adding that some oil products sellers now offer contracts based on a daily average of nymex prices
docugraphix inc docx 3rd qtr jan 31 loss
the company reported a second quarter loss last year of 19 mln dlrs or 14 cts per share on 239 mln in revenues
get a green card if you have to but dont come home without a deal we can all be proud of he said
the issues real rate of return price and the amount of the first interest payment will be fixed at 1400 gmt today
but as their equity capital is fairly small tight lending ratios will severely hamper foreign banks freedom of movement particularly in the growing business of currency swaps if they are required to include more transactions in the balance sheet the sources added
costs including depreciation 508 billion guilders vs 559 billion
bolivia halted all payments on its commercial bank debt in march 1984
qtly div 30 cts vs 30 cts prior pay april 16 record april three
international monetary sources say finance ministers and central bankers who will review market performance and their own economic prospects will reassemble again in washington just before the april 9 policymaking meeting of the international monetary fund
president reagans sanctions decision won praise today from the two democratic leaders of congress
the price quoted for the first time yesterday was introduced as the lack of tin quotes was causing problems for some french companies a spokesman for the non ferrous metals association said
listing singapore as a delivery point allows far eastern operators to deliver aluminium into a lme warehouse instead of having to cover
the company said about five mln barrels of oil will be required to pack the completed segment of the line which runs 1225 miles from near santa barbara calif to existing pipeline connections in west texas
the shares will be convertible anytime after issue into common shares at an equivalent conversion price of 3250 dlrs a share
finance minister ray macsharry making cuts across the board reduced the exchequer borrowing requirement to 185 billion punts 107 pct of gnp compared with 215 billion punts or 13 pct of gnp last year
takeover speculation has driven uals stock for several weeks
if no such steps are taken protectionist sentiment in the us congress will grow putting greater downward pressure on the dollar they said
he declined to say what gencorps next move might be or whether it would issue a statement later today
however zuckerman declined to name the other two houses
the company said its agreement with operator conoco hurghada inc and hispanoil covered the 168374 acre east hurghada offshore concession
products registering high export growth were jewellery up 64 pct clothing 57 pct and rubber 35 pct
the department also estimated the 1985 86 soviet cotton crop at 1210 mln bales vs 1210 mln bales last month
the agency is also paying a further 31 mln stg to indias coal sector for the expansion of its indigenous coal development programme using british designed longwall technology
last sunday when transcanada announced its offer dome said it was also in talks with two other companies but refused to identify them
alleghany corp said its board declared a stock dividend of one share of its common for every 50 shares outstanding as the companys dividend on its company for 1987
merrill lynch first qtr shr one dlr vs 85 cts
battery said occidental life is a major underwriter of individual term life insurance and a recent but fast growing entrant in the individual account superannuation market
royale belge rbvbbr year 1986
tracomin said it expects a good 1987 us groundnut crop and forecast a resurgence in us exports next year
reebok international limited rbk 1st qtr
last month president reagan announced the sanctions in retaliation for what he called japans failure to honour a july 1986 agreement to stop dumping computer microchips in markets outside the united states and to open its home market to american goods
arbitragers had said they believed the hutton offer could be bettered because the wall street firm was not planning to keep its cash tied up in purolator
japan sees marginal rise in edible oil demand
fed chairman paul volcker told a congressional committee last thursday that the feds policy has been unchanged up to today although volckers statement last thursday allayed most fears that the fed had marginally tightened its grip on reserves to help an ailing dollar many economists still wanted confirmation of a steady policy in todays data which covered the two week bank statement period ended yesterday
the shares will be offered in units of 1000 and each unit will have a liquidation preference of 100000 dlrs
the move accelerated the dollars decline as financial markets grew alarmed that trade war was in the offing
nonrecurring income for three and 12 months 1986 included 575000 for settlement of litigation and a gain of 618719 dlrs on surrender of leaseholds
talks broke down thursday when the union walked out after employers tabled their final offer to end the strikes which started january 19 in protest at planned redundancies of 800 from the sectors 4000 workforce starting with 350 this year
dutch soymeal imports fell to 75500 tonnes in january from 97070 in december and 120228 in january 1986 central bureau of statistics figures show
recent us oil demand up 01 pct from year ago
escalante attributed the nosedive in international coffee prices over the last week to speculation rather than real matters of supply and demand
mountain view investment corp phoenix ariz said it acquired maratech communications cos inc
it is based on output data for production industry and partial information for the rest of the economy
the company said it may offer the securites in one or more issues from time to time over the next two years
pillsbury psy hurt by restaurant operations
communications satellite corp cq 1st qtr net
sun city industries sni sees higher net
the officials who asked not to be identified said kuwait had asked about possible protection for a dozen vessels most of them oil tankers which could be supplied by three us navy guided missile destroyers and two guided missile frigates now in the southern part of the gulf
the federal reserve said it will enter the us government securities market after the 1300 est weekly bill auction to purchase around 900 mln dlrs of treasury bills for customers a spokesman said
immunogenetics inc igen year net
seller indications for sunmeal pellets were between one dlr higher and 050 dlrs lower than yesterday while linseed expellers were up to two dlrs above yesterdays midday levels
they said production was conditional on approval of a water license and arrangement of appropriate financing
canadian worldwide energy ltd said it acquired triton energy corps wholly owned canadian subsidiary triton petroleum ltd for the issue of 375 mln common shares of canadian worldwide subject to regulatory approvals
philippines says debt pact better than mexicos 
whatever the calculation the issues have received a warm welcome from investors
jardine matheson said it sets two for five bonus issue replacing b shares
first nine months ended feb 28 shr 474 cents vs 652 net 6030 mln dlrs vs 8130 mln sales 652 billion vs 653 billion other income 4549 mln vs 1602 mln shrs 127 billion vs 103 billion
anz banking group says it will cut prime rate to 1600 pct from 1650 on june 22
but t
at the end of fiscal 1981 when reagan took office bad debt stood at 298 billion dlrs or 123 pct of total debt
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
iran said it had achieved important victories against iraq on the southern war fronts last night
unicoa corp said it agreed to a merger with its wholly owned subsidiary united insurance co of america
they took a gross 2659 billion dlrs of japanese bonds up from 1416 billion in january and sold 2702 billion up from 1394 billion
year to date jeep output was 58597 compared to 56801
west german sugar statistician fo licht estimates european beet plantings this year at 722 mln hectares compared with a revised 1986 figure of 721 mln traders said
both poehl 57 and stoltenberg 59 have been under extraordinary pressures lately
shr loss 19 cts vs profit 11 cts net loss 1140270 vs profit 590463 revs 1259164 vs 3225512 year shr loss 67 cts vs profit 10 cts net loss 4004840 vs profit 580488 revs 3184480 vs 9123041
there now looks to be no danger that the chancellor of the exchequer nigel lawsons forecast of a 1987 current account deficit of 25 billion stg will be exceeded said wroblewski
for chairman don johnston the payment was limited to twice his annual compensation
but only 433000 bales were shipped that year with the rest to be delivered in 1986 87
agriculture would expand significantly if favourable weather continued and farmers responded to producer price rises announced in february the minister added
bonn serious about currency pact says tietmeyer
however bankers are hopeful that an accord will be struck by may 31
most major us banks today matched tuesdays quarter point prime rate cuts by citibank and chase manhattan bank the first prime rate boosts since mid 1984
northgate exploration ltd said hourly paid workers at its two chibougamau quebec mines voted on the weekend to accept a three year contract offer and returned to work today after a one month strike
southam inc said it agreed to sell its 49 pct interest in sun publishing co ltd which publishes the brandon sun to majority shareholder publisher lewis d
speaking here after a meeting of the 11 nation cartagena group marcano said he was aware of political pressure at home to reduce debt payments but did not think such a move would benefit venezuela
boatmens bancshares said its boatmens national bank raised the prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
national westminster bank usa 1st qtr net rises
over the year these firms had total losses of 83 billion dlrs up from 36 billion dlrs in 1985
tokyo has denied the charges
production continued in mln lbs feb 87 jan 87 feb 86 other salad and cooking oils 1112 1114 r 1143 margarine 2188 2169 r 2144 glycerine crude 215 259 313 refined 235 236 r 254 fatty acids 1029 1125 r 1131 meat meal tankage 4102 4582 r 4462 r revised
japanese semiconductor manufacturers have complied with the us japan agreement said shoichi saba chairman of the electronic industries association of japan
cabinet chief bernard prauge will lead the french delegation
faltering deliverability of natural gas a commodity that is difficult and costly to import in large quantities could more than double the current us rig count to near 2000 by 1990 some analysts said
despite the planned use of proceeds from asset sales for a portion of the buy backs costs decapitalization would raise adjusted debt leverage above the 75 pct level of recent years
triangle said no agreement has yet been reached and there can be no assurance that one will be reached
severe drought is affecting about one third of sri lanka and threatens to reduce the countrys tea crop ministry of plantation industries officials told in australia concern is growing about below average rainfall levels in parts of the sugarcane belt along the queensland coast and in western australias wheat belt local meteorological bureau officials said
the units existing management group headed by ron mcarthur will also participate in ownership the company said without elaborating
shr 27 cts vs 10 cts net 7684000 vs 2587000 revs 2739 mln vs 2037 mln year shr 90 cts vs 33 cts net 239 mln vs 8219000 revs 101 billion vs 7007 mln
witco corp said it is offering 140 mln dlrs of 5 1 2 pct convertible subordinated debentures due 2012 through co managing underwriters smith barney harris upham and co and goldman sachs and co
he said the survey showed currency transactions by trade houses and exporters contributed little to the dollar fall
asked if bank of montreal were considering declaring its brazil loans non performing reuber replied we havent really got to that point because we dont think we will have to face that issue some bankers in the us said earlier this week that slow progress in talks between brazil and its major foreign lenders has increased the likelihood that us banks will declare their brazil loans non performing at the end of the quarter
magma raises copper price 050 ct to 6600 cts
king fahd reiterated yesterday in an interview with and the television news agency visnews the saudi commitment to opecs december pact to boost oil prices to an average 18 dlrs
mcm corp to delay yearend report
ic said it will use the proceeds of any asset sale to invest in new high return businesses in the consumer goods and services field
bushnell
pentagon says us warships begin escorting gulf tanker convoy south from kuwait
monday
shr 52 cts vs 47 cts net 1935000 vs 1495000 revs 527 mln vs 431 mln year shr 83 cts vs 101 dlrs net 3775000 vs 3221000 revs 1727 mln vs 1059 mln note share figures for year are after payment of preferred share dividend and include unspecified extraordinary items
grains usuaually break dormancy in march
it also followed celebrations yesterday of what baghdad hailed as irans failure to achieve victory during the iranian year which ended on saturday
shr profit four cts vs loss 99 cts net profit 545000 vs loss 131 mln revs 753 mln vs 379 mln avg shrs 148 mln vs 131 mln year shr profit 34 cts vs profit 34 cts net profit 4908000 vs profit 4487000 revs 2168 mln vs 1177 mln avg shrs 146 mln vs 131 mln note 1985 net included gain on sale of foreign properties of 155 mln dlrs or 119 dlrs per share and a writedown of oil and gas properties of 125 mln dlrs or 96 cts per share
harleysville plans to invest about four mln dlrs in the business if the deal is completed
this issue equals in size a record one by toyota motor corp last december
it hasnt been worth much in the last two years they havent lived up to the agreement as i see it lyng said in an interview with 
duvel has sold 300000 common shares to a private investor group to finance expenses of registration and 640000 shares will be paid to anova stockholders as a dividend it added
if they dont quicken the pace washington could retaliate and really damage taiwan
merrill lynch economists raymond stone and ward mccarthy said that while the fundamentals generally bode for a healthy investment climate the market will have no confidence in this environment until there is illumination of and confidence in us dollar trade policy
shr loss 45 cts vs profit 25 cts net loss 641000 vs profit 352000 revs 5747000 vs 3038000
the bank of england said the issue announced on monday and available for official dealings from this morning was no longer operating as a tap
diamond shamrock offshore said it has a 4615 pct interest in the block phillips petroleum co 2885 pct and santa fe energy partners lp sfp 2500 pct
before the sale the government added the debt onto the british gas balance sheet
baker bko to sell oilwell pump unit
shr 50 cts vs 46 cts net 430 mln vs 348 mln year shr 155 dlrs vs 138 dlrs net 1368 mln vs 1129 mln note holding company
the survey will locate poultry dealers and live bird markets that sell live birds directly to the consumer and once the dealers and markets are identified there will be tests to determine any past or present exposure to avian influenza viruses it said
a campeau source said we believe this cash sale puts us in a very strong negotiating position to maximize the proceeds allied can receive from its other divisions allied was able to put itself in a position where it knows it will be able to meet the june 30 payment schedules the source said
the group which earlier this month said in an sec filing it wanted join with other groups to maximize share values said it sold 89000 shares between june 9 and 15 for 15 mln dlrs
central bank governor jose fernandez said the 103 billion dlr debt restructuring package he and finance secretary jaime ongpin negotiated with the philippines commercial creditors was better than mexicos
however bankers said that despite the size it is likely the financing will get done quickly since banks will want to be seen as supporting the relationship
home savings and loan association inc hsld 
in june 1986 cxr filed the suit in san francisco federal court charging that the 103 mln dlr price it paid for halycon was excessive torotel said
domestic industrial automation and control orders were modestly higher than the same period in 1986 it said
the transaction is subject to shareholder approval
it also followed celebrations yesterday of what baghdad hailed as irans failure to achieve victory during the iranian year which ended on saturday
pakistan unveils new trade policy to boost exports
sosnoff
semi annual div seven cts vs six cts prior pay june one record may one
the ecs executive commission said in a statement spending on its so called social fund would rise to 31 billion european currency units from 25 billion ecus in 1986
following the accord atpc chairman subroto appealed to the united states to restrict its tin releases from its strategic stockpile
investors more active in gilt market survey says
the company bought back goldsmiths stock for 620 mln dlrs giving him a 93 mln dlr profit
analysts said gaf already has a large profit built into its borg warner holdings
barnes group b expects sales to grow modestly
lindner said his increase in ownership would be made either by making an offer to acquire control of taft or taking part in a group to acquire the company
it said oteiba who had just attended the opec ministerial meeting in vienna would stay for several days but gave no details
the emery offer tops a 35 dlr per share buyout agreement ef hutton lbo inc reached with purolator february 27
petroleum 1849 mln dlrs vs 4724 mln minerals 2546 mln vs 2410 mln steel 1482 mln vs 1911 mln corporate items and investments profit 306 mln vs loss 758 mln
texas utilities co txu 12 mths feb 28 net
japan brokers seek 10 year government bond auction
the award is being contested
taiwan to tender for 27000 tonnes us soybeans
irving bank corp v 1st qtr net
investment firm raises certron crtn stake
the main sources of losses in 1986 were book losses and not cash losses haerri said
talking point caesars world caw 
new london airport will offer flights to europe
until now bankers have criticised these spreads as far too low
the short term treasury certificate rates and especially the three month rate have been the national banks main monetary policy instrument for the last two years
soviet leader mikhail gorbachev and foreign minister eduard shevardnadze abruptly left a parliamentary session earlier on monday sparking diplomatic speculation that they were concerned with an urgent matter of foreign affairs
the bill also would aid about 200 feedgrains producers along the missouri and mississippi rivers who were prevented from planting crops this year because of residual damage from last falls flooding
chinas fifth securities market to open
in january taiwan cut import tariffs on some 1700 foreign products and allowed imports of us wine beer and cigarettes
shr after preferred divs
on the inflation front all is well he said
a frequent gap between international market prices and the reintegro was unlikely to recur he said
it also said the issues are being drawn from unocals shelf registration statement filed in december 1985
drawings under both tranches will be at 175 basis points over the london interbank offered rate
compared with last year the outlook for the soviet winter grain crop is far more pessimistic she said
there will be no solution without the further development of trade throughout the world director of public credit angel gurria told reporters that mexicos economy should resume growth this year but he said external conditions are not favorable
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
the commodity credit corporation ccc accepted eight bonus offers from two exporters on sales of 190000 tonnes of hard red winter and 35000 tonnes of soft red winter wheat to jordan the us agriculture department said
hackmann said record corn yields also are possible and the crop could reach 71 billion bushels which would be down from last years 825 billion bushels
however last months agreement among the six leading western industrialized countries to keep currencies around present levels was expected to be a stabilizing influence for exporters it added
shr 96 cts vs 83 cts net 1193 mln vs 1028 mln revs 101 billion vs 8699 mln nine mths shr 253 dlrs vs 201 dlrs net 3136 mln vs 2485 mln revs 283 billion vs 252 billion note 1986 nine month earnings include nonrecurring loss of 99 mln dlrs or eight cents a share from purchase of 1237 mln dlrs principal amount of the companys 150 mln dlr 12 1 4 pct debentures due february 15 2015
dome petroleum is now negotiating a plan to restructure debt of more than 61 billion canadian dlrs with a group of 56 major creditors which includes dome mines and encor energy
moore corp ltd expects 1987 profits from continuing operations will exceed 1986 results and recover to 1985 levels when the company earned 152 mln us dlrs or 170 dlrs a share president m
twa said the agreement does not prevent it from commenting to regulatory agencies on the usair piedmont merger
bankers and businessmen said the conference was also likely to discuss the apparent reluctance of us and british firms to step up investment in the kingdom
us business loans fall 108 billion dlrs
he said some of the countries which were complying as venezuela indonesia libya algeria ecuador saudi arabia and iran
syndication for elders note facility closes
the sources said it was absurd to talk of reflation when the countrys internal debt expected to grow by 10 pct this year from 1300 billion francs in 1986 was growing twice as fast as gross domestic product
alcan australia would invite new zealand representation to its board and would apply to list its shares on the new zealand stock exchange davis said
miyazawa says yen still inside paris range
1985 year net includes 6700000 dlr credit for previous overpayments of windfall profits taxes
fed funds were trading at 6 1 8 pct at the time of the coupon pass which adds permanent reserves to the banking system
beghin say declined to specify the amount of sugar it had offered into intervention but said it was below 500000 tonnes
in addition the treasury said it would permit us made goods to be imported temporarily from south african state controlled organizations for repair or servicing
it said it received an option from three principal shareholders for 40 pct of countys outstanding
another japanese trading house has paid the official price but through a processing arrangement will effectively receive a discount the sources said
privately held pilot air freight said it met with officials of northern air freight inc to try to negotiate a friendly acquisition of northern but northerns management had no interest in the proposal
ic inds icx to sell certain assets to mlx 
the company said sales of the 3m products will have a material impact on its sales for the balance of 1987
repayments are in 20 half yearly instalments starting from the 68th month
shr profit nil vs loss 10 cts net profit 2936 vs loss 170866 revs 4147248 vs 1091392
a management group is being put together and we are selling well inside the fees a cl spokesman said
year to end december shr 767p vs 677p div 17p making 23p vs 21p pretax profit 1270 mln stg vs 1169 mln turnover 110 billion vs 9472 mln tax 250 mln vs 263 mln note company full name is blue circle industries plc bcill company said it proposes one for one capitalisation issue gross profit 3909 mln vs 3216 mln distribution costs 2156 mln vs 1776 mln administrative expenses 651 mln vs 589 mln other operating income 53 mln vs 110 mln share of profits of related companies 500 mln vs 581 mln operating profit 1655 mln vs 1542 mln net interest payable 336 mln vs 322 mln exceptional items 49 mln debit vs 51 mln debit minorities 34 mln vs 69 mln extraordinary items after tax 395 mln vs 42 mln pretax profit includes uk 377 mln vs 205 mln us 275 mln vs 228 mln mexico 150 mln vs 207 mln australasia 157 mln vs 132 mln africa 120 mln vs 126 mln
about 500 mln dlrs of long term debt and 66 mln dlrs of preferred is outstanding
based on a multiple of 17 times earnings which pzena says chemical companies now sell for the entire unit is worth about three billion dlrs putting the 20 pct interest at around 500 to 600 mln dlrs
in montreal said it increased yesterday its prices for unalloyed ingot and extrusion billet by two cents a lb effective with shipments beginning may 1
shr loss 30 cts vs profit 12 cts net loss 2374000 vs profit 970000 revs 157 mln vs 134 mln year shr loss 13 cts vs profit 46 cts net loss 1054000 vs profit 3425000 revs 618 mln vs 499 mln note full name safeguard health enterprises inc
but lindner said he intends to review his investment in taft and may be involved in further talks or take other steps regarding the future control and direction of taft
fixman said diversified industries as part of its effort to redeploy assets wants to sell its theodore sall inc and liberty smelting works 1962 ltd units
underwriters are levesque beaubien inc and mcleod young weir ltd national bank said the issue is part of a program by canada mortgage and housing introduced late last year which provides investors with high quality securities similar to government bonds but with a higher rate of return
we have no objection to soriano buying the b shares diaz told 
hoogovens said cirex turnover had grown in recent years to 30 mln guilders in 1986 and it expected further expansion
i dont see any desire here to scurry around and help brazil until we get a better sense of what they are trying to do a senior administration official stated
ohio mattress co said it filed with the securities and exchange commission registration statements covering a 75 mln dlr issue of convertible subordinated debentures due 2012 and an offering of four mln shares of common stock
the selling concession is 3 4 pct while management and underwriting combined pays 3 8 pct
the spokesman said that if the agreement is renewed bolivia can expect a further 60 mln dlr stand by loan over the next 12 months
monsanto co said it is acquiring certain commerical assets of rhone poulenc chimies polyphenyl business
shr 51 cts vs one dlr net 251 mln vs 468 mln sales 121 billion vs 108 billion note 1986 excludes extraordinary gain of 11 mln dlrs or two cts per share from public issue of affiliates shares
shr 20 cts vs 15 cts net 345970 vs 257252 revs 140 mln vs 134 mln note share adjusted for five pct stock dividend in december 1986
traders said euroyen commercial paper could spur more demand overseas for the yen by allowing opportunities to shift into shorter term securities if need be
southwestern bell votes three for one stock split 88 pct dividend increase
showboat inc will take a charge of 19 to 20 mln dlrs pretax against results for the third quarter ended march 31 director and assistant to the president j
the ontario government has urged ottawa to require foreign companies to obtain permits to import steel into the country
he also said that in a paper not yet published the drug was shown to prevent a flare up of ulcers for a longer period of time than tagamet made by smithkline beckman corp skb other drugs in searles pipeline include tissue plasminogen activator tpa made by a different process than genentechs gene tpa expected to be approved for marketing this year
usair rejected the offer and said it asked the department of transportation to dismiss the application
merrill lynch and morgan stanley co managed the deal
stoltenberg is due to attend a routine bundesbank meeting on thursday in west berlin
the parent banks balance sheet total rose 53 pct to 815 billion marks at end 1986 compared with end 1985 hackl said
quarter net loss originally reported as 320 mln dlrs or 38 cts shr on sales of 3289 mln dlrs and nine mth loss as 1203 mln dlrs or 140 dlrs shr on sales of 111 billion dlrs
destinations were the us covertible currency areas uruguay and open ports
the dollar opened at 18155 60 marks against 18187 97 in new york
qtly div 35 cts vs 35 cts previously pay april 17 record march 31
last month the company announced that pretax profits rose in 1986 to 120 mln stg from 81 mln the year before
the business comprised three 6000 tonne cargoes for june at 346 dlrs and 6000 tonnes for july at 340 dlrs per tonne cif
miyazawa says present yen not necessarily ideal
gencorp gy 1st qtr operating earnings rose
management science msai loss may top 20 cts
rather citibank said it was simply complying with the disclosure requirements contained in the us securities acts
wainocos said its shareholders purchase rights distributed to the shareholders in june 1986 are unaffected and remain valid
inter tel inc intla 1st qtr feb 28 net
shr 10 cts vs two cts net 163832 vs 31063 sales 5434430 vs 3167735 avg shrs 1712231 vs 1533277 year shr 59 cts vs 41 cts net 1016375 vs 550625 sales 197 mln vs 9755018 avg shrs 1710256 vs 1327172
tonka corp said it expects results for its fiscal first quarter to end april four to decline from the record earnings of 38 mln dlrs or 57 cts a share and revenues of 532 mln dlrs
usda estimates south africa corn crop exports
data card said it expects revenues for the year in the range of 170 mln to 175 mln dlrs down from a previous estimate of 180 mln to 185 mln dlrs
hungary hopes devaluation will end trade deficit
it said it will redeem all the debentures for 106050 dlrs plus accrued interest to the redemption date of march 30
meese told the house appropriations subcommittee that consideration would be part of the justice departments review of the proposed merger
cuts were still insufficient in one production area that of hot rolled coils and further talks were needed
this is why countertrade has not been made a law in india
lvi group inc lvi 4th qtr net
britains gold and currency reserves showed an underlying rise of 1785 billion dlrs in march after a 287 mln dlr rise in january the treasury said
bank of japan bought 200 to 300 mln dlrs this morning dealers said
investment firm has 71 pct of cyclops ltcyllt 
john porter r ill introduced in the house of representatives legislation proposed by the reagan administration to slash the us sugar price support a spokesman for porter said
that doesnt show much understanding of international monetary gamesmanship however some analysts said west germanys stubborn march toward higher interest rates may have forced bakers hand
wainoco oil wol recapitalizing company
fed funds traded at 6 1 16 pct late friday and are expected to open near that level
outside california pinola acknowledged that security pacific corp with its recent acquisitions in arizona washington and oregon is quickly becoming a regional competitor in areas where first interstate has long dominated
in a letter to purolators chairman nicholas f
what we have to offer is our cooperation
iran attacked the saudi arabian supertanker arabian sea off the united arab emirates last night but the vessel was able to proceed after the incident lloyds shipping intelligence reported
the government was easing procedures to enhance incentives especially for exporters of textiles and frozen food and importers of industrial machinery and raw materials munim told reporters
they said that without further research and drilling in the area this summer they would not disclose any reserve figures
in remarks prepared for delivery before the national press club rostenkowski d ill predicted major trade legislation will be sent to president reagan by the end of this year
the treasury declined comment on the figures
the international coffee organization ico council talks on reintroducing export quotas continued with an extended session lasting late into sunday night but delegates said prospects for an accord between producers and consumers were diminishing by the minute
holden brown declined to say whether second half growth in profit before taxes would exceed the 207 pct rise reported in the first half
woolworth uk says growth prospects exciting
an official at mineroperu comercial minpeco perus state minerals marketing firm said the agency was assessing the situation
bond international sells hk residential building
on the following two days the topics will range from multilateral trade talks under the auspices of the general agreement on tariffs and trade gatt to such bilateral trade problems as super computers
lamson and sessions co lms 3rd qtr net
gasoline prices were nonetheless 180 pct below their levels as of february 1986
entre computer centers inc etre 2nd qtr loss
corrected bankamerica negotiating units sale
but british diplomats said their minister giles shaw insists that the profitability of companies should be taken into account
the brazil financing for example involved the use of a floating rate note
the expenses will be charged against fourth quarter results it said
the documents said peso proceeds can be invested in selected industries under the philippines debt equity program
fees for the issue total 2 1 2 pct comprising 1 1 2 pct for selling and 1 2 pct each for management and underwriting
amstutz told a house agriculture appropriations subcommittee hearing that soybeans are caught in a squeeze because the farm bill allowed steep cuts in grain loan rates while limiting the soybean reduction
oil traders were pulling prices down on the assumption that oil stocks were building and opec was producing well above its 158 mln bpd quota but now both of those assumptions have come under question mckinley said
the account was previously handled by grey advertising inc of new york
the debentures are convertible into the companys common stock at 6250 dlrs per share representing a premium of 2563 pct over the stock price when terms on the debt were set
bulk movement was 1934494 against 1954103 a year earlier
japan january industrial production revised up
fed expected to set customer repurchases
indonesia expects crude palm oil cpo prices to rise sharply to between 450 and 550 dlrs a tonne fob sometime this year because of better european demand and a fall in malaysian output hasrul harahap junior minister for tree crops told indonesian reporters
the finance ministry has accepted a decision by the securities industry to expand the share of foreign brokers in the 10 year bond underwriting syndicate to 573 pct from 119 pct now a ministry spokesman said
last year production was 174 mln tonnes
the purchase completes the export enhancement initiative for frozen poultry to iraq announced december 22 1986
royal gold and silver corp 1st qtr net
akzo buys rhone poulenc household units
the most urgent item on yesterdays agenda was the need for a legal rollover of some 16 billion dlrs in trade and interbank credit lines extended to brazilian banks which expire at the end of march
crazy eddie inc said its board has adopted a defensive shareholder rights plan and said it has received friendly inquiries on its acquisition
if we sell the best quality and the cheapest products everyone will buy them mhi president yotaro iida said
the officials said a banking consortium led by credit suisse first boston would at the same time arrange for the private placing of an unspecified number of bnl savings shares with foreign institutional investors
borg warners stock rose 7 8 to 49 1 4 above the merrill lynch 4850 dlrs per share tender offer price
cummins said the company should make progress this year and next toward its goal of five pct profitability
the undertone however remained cautious as operators await an eventual start to icco buffer stock buying dealers said
osaka based sumitomo with desposits of around 239 trillion yen merged with heiwa sogo a small struggling bank with an estimated 129 billion dlrs in unrecoverable loans in october
there is an 11 pct cap
pizza inn inc pza 4th qtr loss
medical sterilization inc msti year loss
it said it is raising jet and kerosene postings 25 cts bringing jet to 525 cts and kerosene to 515 cts
the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation
fed expected to add reserves in market
ec ambassador tran van thinh made the formal charge to the surveillance body of the general agreement on tariffs and trade gatt gatt spokesman david woods told reporters
but he added we dont know if they will continue we dont know how significant they will be
but everything is on hold now the smc spokesman said he did not know if the controversy would be resolved before the companys annual stockholders meeting scheduled for may 14
completion of the deal is conditional on approval under us hart scott rodino regulations which is expected within 30 days
traded volumes for uk grain and potato futures in february were down on the previous month while pigmeat and pig cash settlement futures were higher official figures show
swedens ab lm ericsson has also submitted a bid for the maximum 20 pct permitted in association with french defence electronics group matra which would hold between 40 and 49 pct and construction group bouygues matra has already acquired cgcts private telephone business
however diplomats said it was clear from todays discussions that such meetings will be difficult
bachelor lake gold mines inc year loss
john labatt ltd anticipates a good fourth quarter and a new peak in sales and earnings for the fiscal year ending april 30 president peter widdrington told financial analysts
he added that the extremely steep fall in agricultural commodity markets had dealt a harsh blow this year to the ivorian economy and because of this the country was experiencing a growth problem and difficulties with its international debt
although us banks do not have to put loans on nonaccrual until they are over 90 days past due morgan said some of the loans affected by the brazil payment freeze may reach the 90 day limit during the second and third quarters
foreign exchange fix is yen 15465 dlr and payment date on the deal is march 20
the officials said reagan might delay retaliation for a last try to persuade japan to abide by the agreement reached last july governing trade in semiconductors
the french company which produces lead acid batteries had sales in 1986 of 75 mln dlrs gnb said
they added that the move which sparked a record single day plunge of the local stock market would limit their ability to lend foreign exchange to importers and exporters
french treasury to repay 680 mln francs of debt
no one from the sosnoff organization was immediately available for comment
it said the dividend is payable may 1 1987 to shareholders of record april 15 1987
penner said the tax cut resulted from the ideological turmoil in the us caused by the biggest sustained inflation in our nations history which helped foster widespread distrust of government
the moratorium is expected to persist the entire time that debt scheduling talks are under way
they said mexicos new debt package last october marked a 1 16 point drop from its 1985 debt agreement while manilas new pact slashed its 1985 agreement by up to 3 4 percentage points
foreign banks have contributed to the cash crisis by holding up remittance of ugandas hard currency earnings from coffee exports the government newspaper new vision said
the bundesbank has a natural interest in seeing domestic savings channelled into bonds and shares thomas said
correction federal paper fbt raises payout in item appearing march 17 please read headline federal paper board co fbt raises payout also please read qtly div 17 1 2 cts vs 17 1 4 cts
the farm they bought back a few years ago is being sold back to the americans goldston morris said
fed funds which averaged 609 pct on friday opened at 6 3 16 pct and remained at that level in early trading
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
klopfenstein said certificates meet the goal of allowing prices to go below loan levels and providing usda with an inventory management tool
national westminster bank plc said it has cut its base lending rate 05 percentage points to 105 pct today
china sports service corp of china and seylla corp of hong kong signed an agreement to borrow five billion yen from an international syndicate of banks led by the bank of china the new china news agency said
but volcker has warned that a further fall in the dollars value is fraught with danger
foreign policy decisions of the us state department have in the past severely hampered our efforts to move our product to overseas markets he said
the accords were reaffirmed by the group of seven finance ministers in washington last month
in india some 240 mln cattle are estimated to be at risk from the disease
alco standard asn completes acquisition
mcm corp said it has been forced to delay the release of its fourth quarter and yearend results until it can determine the effects on its balance sheet of a possible increase in liabilities at a unit
income and profit generated by services to these countries shrank by a very substantial margin he said
opening stocks at the start of next october are expected to be about 14 mln tonnes 300000 tonnes below year earlier levels bringing total supplies to 95 mln tonnes he said
rykoff sexton inc ryk 3rd qtr jan 31 net
the plan outlined by us treasury secretary james baker 18 months ago stalled because commercial banks balked at the idea of lending additional money ongpin said
danish credit downgrading unimportant premier
he said barwon has approached the philippine government which seized the block of shares from the united coconut planters bank which is believed to be linked with the countrys deposed president ferdinand marcos
nigeria may sign debt rescheduling in september
the company said 03 pct fuel oil is up one dlr a barrel to 2225 dlrs a barrel
us soybean marketing loan not needed lyng
finance ministry officials declined comment but said the ministry has been aware of growing calls from securities houses for 10 year bond auctions
gantos inc gtos 4th qtr jan 31 net
rice and corn farmers will receive the largest payments from the us government during 1987 if the subsidies are calculated per planted acre the us agriculture department said
security pacific said the federal reserve board approved on wednesday its purchase of the portland ore based bank holding company and financial services concern
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
one success of the paris agreement in february to foster currency stability was that us officials have stopped talking down the dollar he noted
it said values of up to 0073 ounce of platinum 0206 ounce palladium three pct copper and 45 pct nickel were found over a drill section of 13 feet
brent said it also proposed to raise about 126 mln stg net through the issue of 13167 mln convertible shares at one stg each
these agencies included the office of management and budget and the departments of interior and commerce he said
the remainder will be available for the companys insurance units or for other business purposes it said
consul cnslo extends exchange deadline
1986 year net excludes 440000 dlr debt retirement gain and gain 128 mln dlrs from sale of hpsc inc hpsc stock
as part of the transaction the company said it granted idc acquisition an option to acquire up to 20 pct of the companys outstanding shares for 16 dlrs per share
earlier today macandrews and forbes group inc began an 1850 dlr a share cash offer for all common stock of revlon it does not own
louart corp a los angeles investment firm said it raised its stake in certron corp to 237000 shares or 78 pct of the total outstanding common stock from 164000 shares or 54 pct
with oil prices recovering saudi arabia went ahead at the turn of the year with long delayed budget plans incorporating a 527 billion riyal deficit to be bridged by drawing down foreign reserves
it said united jersey bank fidelity bank based in pennsauken will be merged into united jersey bank south in order to improve customer service and maximize efficiency throughout the southern new jersey markets
shr 60 cts vs 48 cts net 350 mln vs 278 mln revs 1472 mln vs 1316 mln nine mths shr 167 dlrs vs 138 dlrs net 973 mln vs 779 mln revs 4224 mln vs 3855 mln avg shrs 584 mln vs 565 mln
the current harvests volume was again expected to be between 23 and 26 mln tonnes or 341 to 415 pct lower than last harvests record 41 mln tonnes
treasurys baker says us remains prepared to foster exchange rate stability
depending on the maturity of the various debts banks will receive on july 15 repayments representing three pct of the arrears and the overdue debt covered by the standstill
ccf reports 348 pct profit boost share split seen
sesostris sells 18000 tonnes barley to greece
the spokesman contacted by telephone said only one third of car ferry the herald of free enterprise owned by the british company townsend thoresen remained above water
vice chairman sir denis henry of grenada chaired the meeting in his place
but is too early to say what they will be and more rain is needed to restore sub soil moisture
vanguard index trust quarterly dividend
australian wheat board renews japan supply pact
the 10 year par priced bonds of 5000 francs face value carry two warrants a and b each of which entitle holders to acquire one certificate of 100 francs nominal value
spending on major projects is expected to total more than 120 billion taiwan dlrs in 1987 88 compared to 89 billion in the current year he said
argentine observer critical of debt stance
i believe the commercial banks need to be open to creative ideas for reducing the debt burden baker told the annual meeting of the inter american development bank
she said canada us bilateral trade negotiations which must be concluded at least in draft form by october are progressing well
the commission has sharply revised down expected german gross national product growth this year to two pct from 32 pct predicted last autumn and says bonn has the most room of any ec country to stimulate economic activity
but analyst peck said it will take a few weeks to see whether japan has genuinely cut production he said japanese manufactures were likely to view mitis request unfavorably because chip capacity was still high and production cut backs would lead to significant write offs in plant and equipment
garcia says peru not trying to export debt stance
the hotel is being developed on a contractual joint venture basis between an unnamed hong kong chinese investor and suzhou municipal entities
the proceeds of the sale would be used to reduce borrowings and develop activities in the uk hepworth shares eased 05p on the announcement to 2275p
gm gm stock buyback wont affect s p ratings
thai sugar production continues high in feb
the possible acquisition is subject to any applicable real estate gains and transfer taxes the joint statement said
opecs differential committee was to have met in vienna starting april 2 but this session has been postponed with no new date set according to an official of the united arab emirates which chairs the seven state body
dixons says citicorp to withdraw cyclops offer
they predicted exports will increase by 23 pct in the january march quarter from the october december quarter
ministers also called on the ec commission to prepare a report on us japanese trade for july this year to enable them to take appropriate action where necessary
anything less than that will now look like a failure to wall street the budget plan now under debate on the house floor would lower an estimated 171 billion dlr deficit for the year beginning on october one to about 133 billion dlrs by cutting defense and domestic programs by 38 billion dlrs from their anticipated spending levels for next year
a department official said the world market for enriched uranium for reactors for power utilities is increasingly competitive and private entity could better tap it
twa said it does not intend to seek control of usair acquire more stock at this time
desoto inc said it sold the plant inventory and certain other assets of some of its industrial chemical operations to plastic specialities and technologies inc a privately held company headquartered in parsippany new jersey
peru registered a 16 mln dlr trade deficit in 1986 its first trade shortfall in four years a central bank statement said
it had sales of 171 mln dlrs in the period
on friday taft said it would negotiate with a group led by its vice chairman dudley taft and a rhode island investment firm which had offered 150 dlrs a share for the company
reiners said the spread is not really narrow enough to present a clear need for a prime rate increase
earlier on monday the bundesbnak injected liquidity into the west german money market in a move which money market dealers interpreted as an attempt by the west german monetary authority to curb interest rate rises
this followed a decline in the cattle slaughter to 472900 head from 509500 in december and 478800 in january 1986 the bureau said
the country exports about 33 mln 60 kilo bags a year
allisons place inc alls 4th qtr net
there are hints that gnp is picking up
great western gwf to redeem debentures
in the administrative proceeding against allied and kern the sec is asking for an administrative order that they comply with reporting provisions of securities laws in the future
kuwait seen wanting to lease some us tankers
swedish mining and metals group boliden ab blds st said it would buy the mining equipment operations of the us allis chalmers corp aho amounting to more than 50 pct of group sales for 600 mln crowns
corby distilleries ltd said it has agreed to buy toronto based mcguinness distillers ltd from heublein inc for about 45 mln dlrs in a move which corby expects to add significantly to domestic earnings
allied signal ald sells to schlumberger slb 
exceptions to these conditions include credits to concerns in which the bank itself has a stake and to branches of foreign banks
the exchange will now submit the contract to the commodity futures trading commission according to the spokeswoman
terms were withheld
dollar seen falling unless japan spurs economy
moodys said marathon oil cos recent establishment of up to one billion dlrs in production payment facilities on its prolific yates field has significant negative implications for usxs unsecured creditors
paton reports us green coffee roastings higher
restructuring efforts should improve productivity but not in the forseeable future the agency added
in todays statement societe generale gave no figures for extraordinary gains
yugoslav retail prices in february rose 72 pct from january to stand 916 pct higher than in february 1986 the federal statistics office said
main features of new rubber pact
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
he also reiterated that there was no need for an emergency opec meeting
world supply demand estimates issued by usda
it has said it bought its france fund stake for investment purposes only
the sales together with the previously announced sale of atcos australian operations will gross 114 mln dlrs and result in an after tax gain of 31 mln dlrs which will be reflected in atcos fiscal year results
adams russell electronics aare in purchase
since debtor nations problems were normally treated on a case by case basis perhaps the same principle should apply to creditors central bank president francisco gros said
proposed offerings recently filed with the sec
however oecd officials said the measures will significantly strengthen domestic demand quite possibly exceeding one pct gnp when the full effects have worked through and thus will provide some stimulus to imports
bethlehem has one billion dlrs of debt and preferred stock outstanding
i think this in all honesty is a preliminary step said long
while nobody wants to add further unnecessary complexity to an already complex taxation regime i am inclined to favour these kinds of tailored approaches ahead of sweeping changes which leave government revenue much reduced and may still leave a lot of uncertainty as to what individual companies are going to do in major areas evans said
it said about five mln dlrs will be spent to continue underground development and obtain operating permits and another 102 mln dlrs is expected to be required to complete underground development construct a mill and provide the infrastructure needed to put the mine into commercial production
money market sources said institutions in need of funds were likely to have to return to the bank tomorrow for further assistance
bpi systems bpii in talks to sell company
however west german sources said bonn finance minister gerhard stoltenberg was unenthusiastic about the idea
javett principal officer of zico and first fidelity bancorps ffb first fidelity bank unit the depositary for zicos offer
first city industries sells yale and nutone units for 400 mln dlrs and securities
magna groups as of dec 31 1986 had assets of 147 billion dlrs
assistant us treasury secretary david mulford said recently the reluctance of small banks at one point endangered the entire mexican package
vr business said it issued 3964000 shares of common stock and 11846 shares of preferred stock with the remaining shares of common to be listed within the next week to 10 days
the company said after april 3 the exercise price of its warrants will return to two dlrs until they expire april 21
on a year over year basis the federal agency said the index fell 09 pct in january the largest yearly decline on record
this could happen if the federal deposit insurance corp sells enough shares of continentals common stock over the next two years to cause a change in ownership it noted
neti chairman lawrence brilliant said in response to an inquiry that the software called docuforum transfers documents between separate locations over telephone lines
general electric co ge 1st qtr net
charter co the huge petrochemical concern in bankruptcy proceedings stemming from hundreds of dioxin related claims said it and all of its subsidiaries except the independent petrochemical corp will complete their reorganization on march 31
first of america has assets of more than 79 billion dlrs
in late february gm car sales fell 86 pct from the year ago period while competitors ford motor co f and chrysler corp c both posted increases
feds okay western carolina savings conversion
in an analysis of the law the research service issued several critical comments about the structure of the new firm and said apparent domination by contel of a restructured comsat would have broken the spirit of the law setting up comsatcomsat is the us arm of intelstat the international satellite communications firm
west german industrial production seasonally adjusted rose a provisional 32 pct in february after a downwards revised decline of 34 pct in january the economics ministry said
my criteria for a good amendment sets a standard for getting the trade deficit down he told reporters
a drop in may us housing starts and continued weakness in auto sales show key sectors of the us economy are lagging while a recent modest 03 pct gain in may producer prices has helped dispel inflation fears slifer said
we are not interested in confrontation but we would like the loan mechanisms to show that the crisis belongs to both sides funaro said
fiscal 1986 net reduced by currency losses equal to six cts a share in the second quarter and equal to nine cts in the six months
belgian industrial production excluding construction and adjusted for seasonal and calendar influences was provisionally 06 pct lower in february than a year earlier the national statistics office said
starrex mining shares rose 40 cts to 475 dlrs in trading on the toronto stock exchange
the cost of living in west germany will likely be about 05 pct higher on average in 1987 than in 1986 when the cost of living actually fell by an average 02 pct in the first recurrence of negative inflation since the 1950s the hwwa economic research institute said
magma lowers copper price 050 ct to 6550 cts
fellow opec member venezuela has already agreed to lend ecuador five mln barrels of crude to be repaid in kind after 180 days to help meet its domestic consumption needs
clearly todays prices of more than 15 dlrs a share of dome mines stock are very attractive annesley commented
japan to sell 200 billion yen in bills traders
a winter storm warning was issued this morning over central and northeast nebraska
truck tire sales and service corp which operates 51 sears truck tire sales and service centers through a licensed agreement with sears roebuck and co s the plant will supply tires to armteks armstrong tire co as well as to several sears centers
but following mondays supreme court ruling texacos suppliers began demanding cash and halting supplies
although allied is no longer publicly traded since it became a subsidiary of campeau it still files annual and quarterly reports to the sec because it has outstanding debt
austrias current account surplus grew to 110 billion schillings in the first four months this year from 82 billion in the same period last year the national bank said
karl otto poehl head of west germanys central bank and finance minister gerhard stoltenberg are normally so much in agreement that some foreigners doubt the central banks independence
taiwan to issue 12 billion dlrs worth of bonds
the administration proposal is so drastic that i dont think it will get up a head of steam huckaby said
analysts said several factors boosted hog prices
us bank net free reserves 447 mln dlrs in two weeks to april 8
swiss inflation is likely to rise in 1987 and 1988 because of inflationary tendencies in the domestic economy the centre for economic research of the federal institute of technology said in its spring review
the current year has opened well with trading prospects remaining favourable burmah oil co plc burml said in a statement with its 1986 results
it reported that its competitive position had weakened considerably in the second half of 1986 leading to a seven pct cut in steel output over the whole of the year to 374 mln tonnes
yesterday cayacq corp dropped certain conditions of its 9250 dlrs a share offer for cyclops and firmed up the financing for the proposed transaction
april m 1a rose a year on year 1512 pct to 1422 billion rand after rising 1472 pct to 1397 billion in march while m1 rose 2449 pct to 2792 billion after a 2069 pct increase to 2697 billion the figures showed
a colombia government trade official has urged the business community to aggressively diversify its activities and stop relying so heavily on coffee
on friday the us department of transportation approved usairs acquisition of 51 pct of piedmont
raised were coastals notes debentures and eurobonds to bb minus from b plus and subordinated debt and preferred to b plus from b minus
uganda has a direct rail link with the kenyan port of mombasa through which it conducts 70 pct of its external trade but there is a chronic shortage of railway wagons they said
plenty of properties are available on the market thanks to the need of many companies to raise cash for debt payments and general restructuring throughout the oilpatch
proceeds will be used partly to finance the previously announced acquisition of belkin inc
the government plans to help the industry shed 20 pct of current capacity within two years through mergers and regrouping under legislation put before parliament this month and likely to be approved by may or june the sources said
bank deposits rose 7540 billion rupees in the first six months of fiscal 1987 88 against 6692 billion in the same period last year according to the bank
cyclops cyl board restructured to include dixon
the japanese have said they are happy we are coming but they are not going to give us anything lyng said
s and p added that lear applied to delist its outstanding senior notes
if we can take care of investment confidence the potential to recover strongly is great a banker said
however it was not in the competence of the national bank to rule on prospectuses and banks have since continued largely as before public issues generally quoted on stock exchanges have been provided with detailed prospectuses while notes virtually always not quoted have been equipped only with information memorandums with varying degrees of detail
its 45 dlrs a share offer for jwt which has been rejected by jwt expires on july 10
hardjoko seputro spokesman for the mines and energy ministry has said that president suharto has agreed in principle to extension of the standard 30 year production sharing contract to reflect better current depressed conditions on the international oil market
viner eavkf viable after hecks hex move
the four major japanese securities houses now take turns underwriting corporate bonds
about 500 mln dlrs of tuesdays float reflected non weather related transportation float in one eastern reserve bank
officials of pay n pak did were not immediately available for comment
france has sold a total of 200000 tonnes of soft wheat to tunisia since the begining of the current campaign which was covered by coface export credits
santos alvite who arrived in caracas last night to discuss an aid plan for ecuador did not say when the organisation of petroleum exporting countries opec would be approached
kansas city southern industries says it eager to purchase southern pacific railroad
argentine grain producers adjusted their yield estimates for the 1986 87 coarse grain crop downward in the week to yesterday after the heavy rains at the end of march and beginning of april trade sources said
metropolitan financial mpc to acquire company
uk money market given further 195 mln stg help
shr 122 dlrs net 278 mln vs 286 mln nine mths shr 388 dlrs net 874 mln vs 987 mln assets 103 billion vs 84 billion deposits 74 billion vs 67 billion loans 79 billion vs 60 billion note full name is dime savings bank of new york
the government also today revived a proposal blocked last year by socialist president francois mitterrand to encourage more flexible working hours which it says will boost jobs by improving the competitiveness of french industry
but he said that any response would be in accordance with international law and japans international obligations
an investor group headed by minneapolis minn broker jeffrey wendel said it raised its stake in zondervan corp to 292900 shares or 71 pct of the total outstanding from 238900 shares or 58 pct
qtly div 20 cts vs 20 cts previously pay april 15 record march 23
offshore investment firm ups france fund stake
hongkong bank and hang seng bank control half of all deposits in the banking system giving them access to a large base of low cost funds
shr 70 cts vs 61 cts net 2002 mln vs 1739 mln sales 138 billion vs 126 billion nine mths shr 187 dlrs vs 154 dlrs net 5356 mln vs 4378 mln sales 404 billion vs 363 billion note share adjusted for two for one stock split
holders of venezuelan public debt bonds would be able to exchange them for bolivar denominated bonds at up to 100 pct of their nominal value which could be turned into private investment in priority areas
the justice department in january said it would block the hughes and baker merger on anti trust grounds unless both companies agreed to sign a consent decree that would provide for the sale of the assets after the merger took place
japan february trade surplus 814 billion dlrs january 570 billion surplus
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
athey products corp atpco 3rd qtr net
the sources said that finch in a statement considered unprecedented told the board that the united states had brought undue pressure on the imf to approve funding for zaire and egypt
discoveries and other additions totaled 2005 billion cubic feet last year up from 1759 billion in 1985 it added
the new british one ounce gold coin the britannia will be priced on the basis of the gold price on the day of purchase plus a competitive premium treasury officials said
general electric co is raising 250 mln dlrs via an offering of notes due 1992 with a seven pct coupon and par pricing said lead manager kidder peabody and co inc
he said carolina power intends to include the cancellation costs in rate filings it will make late this year or early next year
the bundesbank will not hold a press conference after its regular fortnightly council meeting tomorrow a spokesman said in answer to enquiries
properly functioning markets require standardized products
the session is expected to end on tuesday
ec concerned over us textile import moves
he said the bank is studying revision of the foreign exchange rules in hope of further reducing currency controls but declined to give details
hill international said in january that it holds 59 pct of united states videos outstanding stock the company said
drought in parts of the country is expected to reduce the castorseed crop to a provisionally estimated 350000 tonnes in 1986 87 from 550000 tonnes in 1985 86 they told
oper shr 89 cts vs 131 dlrs oper net 3345000 vs 4885000 sales 1268 mln vs 1201 mln year oper shr 167 dlrs vs 215 dlrs oper net 6299000 vs 8013000 sales 3809 mln vs 3521 mln note share adjusted for five pct stock dividend
it said the results could have been even better had it not been for the collapse of refining and sales profit margins in the last quarter of the year
the company also said the other partner is lombardo communications inc a wholly owned corporation of phillip lombardo
brazil was west germanys main latin american supplier but shipments fell to 44 billion marks from 64 billion in 1985
rbi said under the new rule 16 other products will qualify on a discretionary basis for overseas promotional spending of not more than two pct of the freight on board value of annual export earnings
reagan says us needs to lessen oil imports
we hope to have some safety provisions so that we wont have any major dilutions from an acquisition wallin also said the company will have virtual exclusivity in rate responsive pacemakers for all of fiscal 1988
the market will determine the dollars proper value in the end yeutter said
uk wheat and barley exports adjusted upwards
ducommun inc dco quarterly dividend
to complement the short term measures nakasone is also likely to present reagan with details of japans longer term economic plans
growers said it was still too early to tell whether the rains had damaged crops though they said maize and sunflower crops may have suffered
the joint bookrunners are tokai international and daiwa europe ltd
shr 66 cts vs 33 cts net 2955000 vs 1563000 revs 261 mln vs 239 mln 12 mths shr 74 cts vs 101 dlrs net 3321000 vs 4739000 revs 1084 mln vs 1049 mln note year 1987 includes charge of 818000 dlrs or 18 cts per share for sale of elisra electronic systems ltd
he added the performance of seven businesses bought last year was encouraging
the consumer position would have in effect reduced the market share of brazil by far the worlds largest producer
traders in several centres said the market would look for fresh opportunities to test the willingness of central banks to defend current ranges which the communique said were broadly consistent with economic fundamentals and the basic policy intentions outlined at the louvre meeting dave jouhin senior dealer at midland bank in london said theyre going to put somebodys resolve to the test soon the us february trade data may provide the trigger dealers said
allied signal announced in december that it planned to sell the linotype unit as well as six other businesses in its electronics and instrumentation segment
even if futures fell the daily limit of 150 cents today producers could still lock in a profit which increases the likelihood of heavy selling pressure today
qtly div 12 cts vs 12 cts pay april 8 record april 1
nawg president jim miller said in a statement that the organization wanted to convey to secretary schultz the importance that exports hold for us agriculture and the degree to which farmers are dependent upon favorable state department trade policies to remain profitable
cargo preference is a costly special interest operated at the expense of american farmers and dockworkers lugar said in signing on as a co sponsor or cargo preference repeal legislation
canada stocks dome petroleum ltd dmp 
bolivian miners call general strike
rabbit software rabt to make acquisition
the cso set the expenditure index at 1129 from 1116 in the third quarter of 1986 and 1098 in the final 1985 quarter
they said member states are split on whether to reduce the scope of a quota production system which at present protects ec steelmakers from the full force of competition for 65 pct of their products while talks on the closure plan proceed
employers groups also want change
the sale would be subject to compliance with the hart scott rodino antitrust improvements act and other regulatory approvals the company said
their phelps dodge costs are so low they dont need copper prices higher than 70 cts to make a lot of money said vahid fathi of prescott ball and turben inc
there are heightened fears that el nino may be returning to peru with an intensity approaching the 1983 disaster which affected the weather on several continents and caused widespread damage through floods and drought the us agriculture departments officer in lima said in a field report
it added some kind of debt relief and a new attitude on the part of the banks is necessary the communique added that debtor countries and banks have to explore new market mechanisms debt into equity swaps capitalization of interest and writeoffs
the duty was imposed last year after the revenue department found us corn production was subsidized
senior ec diplomats gave a generally favourable reaction to an ec executive commission proposal under which the ec could raise tariffs on a range of japanese products if the us carries out a threat to make a similar move on april 17
merrill lynch officials did not return phone calls
peoples ban corp said it expects to report first quarter earnings of over six mln dlrs including a gain of 1600000 dlrs from the settlement of a dispute with the internal revenue service and the sale of four banking offices in vancouver wash
but they allege talks broke off because painewebber and ammeen could not satisfy edelman and dominion with a written statement that they did not provide inside information
this view was shared by the majority of frn market sources polled by since trade began to collapse last week
the company said the profit decline will be the result of an increase in reserves for inventory valuation
were pleased and they are pleased that we are pleased one said
stanadyne stnao purchases ambac stake
rlr securities group inc will underwrite the offering
telecast tcst completes acquisition financing
the facility to be used mostly for building a multi purpose dam and modernising educational and medical facilities and for sewer projects bears interest of 425 pct per year and is repayable over 18 years after a grace period of seven years
hovnanian enterprises inc said its board of directors has declared a two for one split of its outstanding common stock
chrysler did not reveal the name of the group that received the proceeds
on friday the fed added reserves indirectly and in small amounts via one billion dlrs of customer repurchase agreements with the federal funds rate at which banks lend to one another high at 6 5 16 pct
we need to look at ways to cut costs and not hurt the farmer
we the developing countries are going to insist on the application of contingency clauses to extend deadlines for the payment of capital as well as interest he said
cbc said the merger will not affect citizens banks name management board of directors or employees
honeywell bull inc owned by honeywell inc hon cie des machines bull and nec corp said it expects its 1987 revenues to increase 15 to 20 pct over its current level of about 19 billion dlrs
these swaps arent a panacea but they do demonstrate how a creative free market can make progress in reducing the debt burden he said
awb chairman urges farmers not to cut plantings
the concept is a much more rigid one than the secret ranges of the paris accord and would mark a sharp departure from the relatively free currency markets of recent years
usage would be markedly more in 1989 and 1990 when grain usage under a certificate program was estimated to exceed the zero certificate case by 15 to 19 pct
the securities are rated b 2 by moodys and b by standard and poors
mees said the price adjustments arrived at through negotiations between the omani oil ministry and companies concerned are designed to compensate for the difference between market related prices and the official price of 1763 dlrs per barrel adopted by non opec oman since february
a 2 1 2 basis point utilisation fee is payable on drawings of more than half the committed portion
manufacturers hanover corp said it placed 14 billion dlrs of medium and long term loans to brazilian borrowers on non accrual as of yesterday meaning that income will be recorded only when actual cash payments are received
concorde ventures inc in merger agreement
coffee accounts for 60 pct of ethiopian exports and the recent fall in world coffee prices has sharply reduced the countrys foreign exchange earnings
the 13 member cartel is scheduled to meet on june 25 in vienna to review its december accord on prices and output
the federal reserve board has a 50 pct margin requirement for purchasing stock but proxmire said it is not generally enforced in hostile takeovers
usair group inc said it has amended its 69 dlr per share tender offer for shares of piedmont aviation inc to reduce the maximum number it will accept to 9309394
the icch said the value of the contracts traded in february was 290 billion nz dlrs
dimis inc said it has extended the expiration of its 1424500 common stock purchase warrants to september 30 from march 31
dominion has denim manufacturing plants in georgia which would reduce competition in the denim market the lawyers said
todays cut was slightly disappointing said bill martin chief uk economist at stockbrokers phillips and drew
production at trail and kimberley has been shut down since the strike started may 9
international pagurian has five month profit
nationwide said its property casualty group the fourth largest us property casualty insurer had a 106 mln dlr loss in 1986
the companys prime 1 commercial paper is not under review
s p sees dramatic growth for asset backed debt
baker denies change in us policy on dollar
joe gold to develop ontario mine
sugar prices closed slightly higher on the coffee sugar and cocoa exchange despite a large export sale by the european commission on wednesday
it is essential that we first reaffirm here our commitment to implementing that plan as scheduled hata said
in 1978 the administration of then president jimmy carter floated government securities worth four billion dlrs in marks and swiss francs to try to halt the the dollars depreciation
gte corp said the decline in its first quarter net income reflects a 121 mln dlr loss from its 50 pct share ownership of us sprints operations
al laboratories inc bmd 4th qtr net
sugar exports between october 1 and february 28 rose to 449253 tonnes from 435727 in the same period of 1985 86
mcivor said he opposed import subsidies or tariffs used to increase exploration as these only benefit one part of the economy at the expense of other parts of the economy
a year ago the index stood at 2158 and year on year consumer price inflation at 1805 pct
contel ctc to buy walker county telephone
phelps dodge the largest us copper producer last year paid 240 mln dlrs for columbian chemicals co which makes carbon black used in rubber and tires
this seasons uk export performance has surpassed all early expectations and has created the present nervous situation in domestic markets where the fear now is free market supplies may not last out until new crop becomes available in august
petroleum and resources corp peo dividend
details of the requirements in the agreement were not immediately available
of the two components comprising central bank money stock cash in circulation rose to 1117 billion marks in february from 1109 billion in january the bundesbank data showed
moodys investors service said it has confirmed its ratings on about 44 billion dlrs of outstanding securities of public service electric and gas co a unit of public service enterprise group inc
no bundesbank policy changes expected thursday
the final payment must be 16 billion dlrs in certs 57 pct for a 50 50 split
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
mony financial services said it purchased united administrators inc in an effort to secure a larger market share for its group insurance line
there can be no assurances that the parties will reach any agreement regarding an acquisition or what price might be offered the statement said
the performance of the dollar in the exchange market might become a factor bearing on our provision of reserves volcker said in testimony to the senate banking committee
sources close to the organization told the pullout of growmark inc which holds more than 70 pct of the capital stock led to the call for dissolution
atlantic richfield co considering a spin off of a 20 pct interest in its chemical operations could gain about 500 mln dlrs from the deal industry analysts estimated
as of adjustments ranged from minus 500 mln dlrs on monday when cash letter errors at two eastern reserve banks were corrected to plus 500 mln dlrs on thursday when a correction was made to unposted funds at a single bank
japan asks banks to cut dollar sales dealers
independence said the merger will be accounted for as a pooling of interests
oil world forecast that stocks of oils and fats may be cut to only 98 mln tonnes at the end of this season compared with 106 mln a year earlier
dealers said although the figure was well above an expected requirement of around 51 billion marks the expected outflow of funds was so large that banks might find it difficult to meet the requirement toward the end of march
in addition to a two pct cut in the intervention price west german producers face a further price reduction in july with a probable revaluation of the green mark
licht sees stagnant european beet area
echlin inc 2nd qtr shr 24 cts vs 20 cts
he said the long term answer for depressed regions of the country was reaching a free trade pact with the united states which he claimed would improve the outlook for western canada
business sources say that in practice importing even this amount is difficult and they have to haggle with cacex on a case by case basis
the agreement reached today differs very little from the one reached a little over a year ago
the two for one stock split will increase fleets currently 257 mln outstanding shares to 515 shares
net is after tax 2839 mln dlrs vs 2993 mln depreciation 3205 mln vs 3459 mln interest 2916 mln vs 4574 mln and minorities 135 mln vs 989 mln but before extraordinary profit 228 mln vs loss 3105 mln
carney later told the canadian guidelines are basically compatible with the seven point australian proposals announced in davos switzerland in january
cnw corp said its chicago and north western transportation co sold 25 mln dlrs of consolidated mortgage 993 pct bonds series c due 1992 in a private placement
usair u acquires 99 pct of piedmont pie 
the lending is in line with japans plan to contribute 20 billion dlrs over the next three years to developing countries
firms and individuals may only invest in foreign government bonds treasury bills and certificates of deposit
uluslararasi endustri ve ticaret bankasi as interbank a large privately owned trade financing bank in turkey is seeking a 20 mln dlr committed export advance facility morgan guaranty ltd said as lead manager
glickman pushes hard for 0 92 farm plan
for the first quarter of last year ended february 28 california biotech earned 114000 dlrs
qtly div 15 cts vs 10 cts prior qtr pay 17 april record 3 april note great lakes federal savings and loan is full name of company
reagans own weakened domestic position and growing republican as well as democratic anger with japan argue against a quick settlement to the trade dispute the analysts said
southmark corp said shareholders will be issued as a special dividend rights to acquire 22 shares of american realty trust arb for each 100 shares of southmark owned
but no decision has been made on whether or how to proceed with a merger attempt he added
st
iomega corp iomg expects qtr and year losses
french bond committee approves domestic issues totalling 445 billion francs
the commission said the industry would probably be unable to hold prices at current levels and that any increase would result in loss of sales and jobs
caisse nationale de lenergie is issuing a 650 mln franc 870 pct bond due october 13 1997 at par lead managers banque national de paris and union de garantie et de placement said
france faces pressue to change policies
the federal home loan banks would borrow the five billion dlrs in financial markets to assist the fslic which government auditors have said is approaching bankruptcy
telemedia said it will also acquire a 10 pct interest in the company which recently launched the us edition of harrowsmith
shr loss five cts vs loss six cts net loss 473784 vs loss 489257 revs 2688 mln vs 817 mln avg shrs 9245247 vs 8035326 year shr loss 17 cts vs loss 20 cts net 1512534 vs loss 1553592 revs 1448310 vs 515225 avg shrs 8745132 vs 7619863
the rri is considering asking estates to remove the trees seriously affected by the fungus because it was too late to use chemicals to kill the disease an institute spokesman said
genzyme corp genz 4th qtr net
member states of the european community are starting to run out of patience with japan which they believe has repeatedly promised major initiatives to open its market to imports but as often made only minor moves
ford raises qtly payout 10 cts shr to 75 cts
at the same time the two sides reached a stopgap arrangement on the short term trade and money market credit lines whereby the committee agreed to transmit a brazilian request to extend the lines for 60 days until may 31
the survey estimated opec february output at around 16 mln bpd
syeduzzaman said remittances from expatriates would rise to 600 mln dlrs this year from 425 mln in 1981 82
expanding secondary operations would also improve the placement capacity of japanese houses intending to move into lead management of mark eurobonds
oper shr loss 11 cts vs profit 33 cts oper net loss 132000 vs profit 408000 revs 252 mln vs 230 mln note 1986 and 1985 oper net excludes a loss of 636000 dlrs or 52 cts per share and a loss of 994000 dlrs or 80 cts per share for discontinued operations
perus catches differ regionally and stocks are low
last month rubber importing and exporting countries adopted a new international natural rubber agreement in geneva
combined refinery and lme stocks rose to a preliminary 470600 tons from 464400 tons revised higher january lme stocks were 193400 tons
the new figure is 211 to 227 pct lower than the 128 mln tonnes produced in the last harvest according to official figures
with mark denominated investments largely out of favour because of low yields and a dull economic outlook chases marshall said sterling is simply the best game in town especially after the budget and demand will remain strong
it is available in denominations of 5000 and 100000 canadian dlrs
waste management inc said it sent a letter to the chemlawn corp board saying it is prepared to increase its bid for chemlawn to 33 dlrs a share from 27 dlrs if chemlawn promptly negotiates and executes a simple two step merger agreement containing only essential covenants and conditions
william reynolds who became chairman last year has been emphasizing the companys aerojet general and diversitech general businesses
bralorne resources ltd said it reached agreement in principle with its long term lenders for a debt rescheduling plan
the company said the study found proven ore reserves of 3302000 short tons grading 0077 ounce of gold per ton
bank of spain governor mariano rubio said the central bank was worried that money supply was growing too fast reflecting excessive internal demand in the spanish economy but added that he was confident recent measures would succeed in restricting money growth
the bank of england said it provided the money market with late assistance of around 40 mln stg
commercial union assurance cuacl a composite insurance company in the uk said it is arranging a financing facility totalling 750 mln european currency units ecus which will now include a medium term note program
ogden said the moratoriums will affect both pretax and net income equally because the banking firm has tax credits to use
homestead financial corp said it began a public offering of 3500000 shares of its class a common at 10875 dlrs per share through an underwriting group managed by drexel burnham lambert inc and merrill lynch capital markets
first financial management corp said its board declared a three for two stock split of its common stock
the provincial government purchased 15 mln dlrs of the companys class a preferred shares
as a result several officials said they saw no reason to alter the broad thrust of government policy agreed to at last months meeting of major nations in paris
toronto dominion bank nassau branch has increased its eurobond offering to 50 mln australian ltdlrs from 40 mln lead manager hambros bank ltd said
it hoped to launch the facility soon afterwards he said
we are waiting for the first move from them he told turkish radio in london
net loss 688 mln swiss francs vs
weather advisories were posted for this morning over central kansas and central and southeast sections of south dakota where two to five inches of snow could accumulate
the department said the ussr dominated the weeks activity with purchases of 14 mln tonnes which were earlier reported under the daily reporting system other large increaes were posted for japan and unknown destinations it said
the writeoffs will cover the costs of plants and equipment involved as well as expenses connected with the staff cuts
banks extend trading halt in lebanese pound
the company bought back the financiers stock and carried out a wider share repurchase
the reduction will hold through may 15 it said
the report prepared before british petroleum co plc bp disclosed plans to seek the rest of standards stock put 1987 capital spending at 16 billion dlrs down from the 17 billion dlrs projected in january
iwc says effect of lower support prices limited
standard pacific lp said it has acquired substantially all of the assets and liabilities of south bay savings and loan association of newport beach
bp said earlier it planned a tender offer for the 45 pct of standard it does not already own for 70 dlrs a share cash
sanwa banks plan forecasts that securities and international operations will contribute 40 pct of total operating profits by the end of the fiscal year ending march 1990 compared with 30 pct in fiscal 1985 the sanwa official said
in the case of gencorps rko general broadcasting stations reed said the plan of the partners is to step into gencorps shoes and proceed with plans to sell the stations
api says distillates off 195 mln barrels gasoline off 398 mln crude up 242 mln
first union corp func 1st qtr net
peoples has assets of about 24 mln dlrs
saudi is a reliable supplier in that sense said one trader
dry spell in philippines damages agriculture crops
sea galley stores inc seag 1st qtr net
boral to raise 100 mln dlrs by notes issue
ic industries inc said its abex corp subsidiary agreed to sell its sintered friction materials business in italy to troy michigan based mlx corp for undisclosed terms
senate banking committee chairman william proxmire d wis said he planned to introduce legislation shortly to require greater public disclosure of corporate takeovers and fairer treatment for all shareholders
trade representative clayton yeutter said on monday that the us free trade agreements with canada and israel should help to pave the way for liberalizing the global trading system
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 15000 tonnes of frozen poultry to iraq the us agriculture department said
combined sales activity in cotton of 75200 running bales 44700 bales for the current year and 30500 bales for the 1987 88 bales were 56 pct below the prior weeks good showing the department said
shr 90 cts vs 97 cts shr diluted 82 cts vs 88 cts net 421 mln vs 430 revs 3793 mln vs 3527 mln avg shrs 468 mln vs 443 mln avg shrs diluted 526 mln vs 500 mln year shr 158 dlrs vs 181 dlrs shr diluted 150 dlrs vs 176 dlrs net 737 mln vs 779 mln revs 120 billion vs 116 billion avg shrs 468 mln vs 430 mln avg shrs diluted 526 mln vs 456 mln
the actions affect a combined 662 mln dlrs of securities
sun raises crude oil postings one dlr across board
forged exxon xon zero coupon euronotes found
hughes tool shareholders approve merger with baker international
the yen could rise to 140 yen to the dollar a leading japanese businessman said
tenneco holds natural gas reserves estimated in excess of 35 trillion cubic feet analysts said
imports fell 92 pct from the previous month to 2772 mln dlrs
parts replaced by independent repair shops and containing the coded warranty label will be tested by chrysler dealers to ensure authenticity
a lot of it has not been put to use
iraq has secured agreement to defer outstanding payments on a 500 mln dlr syndicated euroloan following five months of negotiations with creditor banks
the bundesbank set a new tender for a 28 day securities repurchase agreement offering banks liquidity aid at a fixed rate of 380 pct a central bank spokesman said
in havana each cuban receives approximately 3 4 lb of rationed beef every 18 days
hofmeister said inro rubber was stored in 28 different locations in producing and consuming nations adding all warehouses used were suitable for long term storage
the borrower also will have the option to issue certificates in other available currencies including sterling
shr 35 cts vs 29 cts qtly div 12 cts vs 12 cts prior qtr net 5036000 vs 4165000 revs 1476 mln vs 1324 mln nine mths shr 112 dlrs vs one dlr net 161 mln vs 144 mln revs 4334 mln vs 385 mln note per share data reflect march 1986 five pct stock distribution
saudi arabia is not playing that role
general acquisition also said if the board decides to accept an alternate proposal it asked that it not accept a plan that would include defensive features
japan details plan to stave off trade problems
shr loss 45 cts vs loss 134 dlrs net loss 1240000 vs loss 3621000 revs 6264000 vs 4626000 year shr loss 90 cts vs loss 201 dlrs net loss 2487000 vs loss 5406000 revs 208 mln vs 217 mln
the company said the swap will be tax free
chase chairman colin reynolds said the takeover would allow entregrowth to concentrate on north american operations with access to chases international funding base and a stronger executive team
national distillers sold its wine business last month to grand metropolitan plcs heublein inc for 128 mln dlrs
1985 year net excludes 35000 dlr tax credit
heritage said it has filed preliminary proxy materials with the securities and exchange commission and has applied for a change of control of its broadcast licenses with the federal communications commission
former treasury official c
the federal reserve is not expected to intervene in the government securities market to add or drain reserves at its usual intervention time this morning economists said
american city ambj sets initial preferred div
comb cmco sells three retail stores
taiwans state owned china shipbuilding corp csbc plans to seek joint production agreements with japan and further diversify into ship repairing to try to trim its debts chairman louis lo said
denominations will be 50000 francs and payment is due march 31
thermo electron corp said it has entered into talks with underwriters on the possible public sale of a minority interest in its packaged cogeneration systems subsidiary tecogen inc
patrick petroluem has definitive accord to buy bayou resources
but the french banks plan which would effectively postpone repayment of about 30 mln dlrs of the loan for several months is running into stiff resistance from many of the 52 members of the loan syndicate
canbra foods ltd sets special one time five dlr common shr cash payout
slow progress in talks between brazil and its major foreign creditors has increased the likelihood that us banks will declare their loans to brazil non performing at the end of the quarter bankers said
i would like to shoot for one mln barrels a day he said
us senate group urges subsidies for ussr
economic spotlight asian droughts
he has the tacit backing of the government in his efforts to merge two telecommunications companies into one competitor to kokusai denwa denshin kdd which has a monopoly on international telephone services here industry analysts said
it is not callable until 1992 unless the share price exceeds 130 pct of the conversion price
however some fields still showed spotty stands
bank of japan intervenes buys dollars around 14590 95 yen tokyo dealers
recurrent profits were estimated to fall 20 pct in the current fiscal year with sales forecast to drop 14 pct
wolverine said it expects favorable results in the second half as a result of its restructuring
egypt which exports a third of its output currently sells its top suez and ras bahar blends for 1725 dlrs a barrel
there was widespread rioting and looting in zambia last december after the government abolished subsidies on refined maize meal in line with imf recommendations
it was not stated how the union would seize control the miners leaders also demanded an end to the system of single sex hostels for migrant workers to be replaced by housing schemes so that workers could live with their families
terms of the acquisition were not disclosed
fed sets two day system repurchases fed says
the dispute goes to the commission on monday they said
in addition the returns in the fitness club industry are just not as high as they are in the gaming industry said one analyst
some opec states are unhappy about the prices assigned to their crude oil but this should not pose great problems when the group reviews its six month old price and output pact in vienna next week oil analysts say
mueller said growth in money supply was still too high
idd information service said the 30 day corporate visible supply rose to 328 billion dlrs last week from 179 billion dlrs in the previous week
proposed offerings recently filed with the sec
subscriptions close april 16 and pay date is may 14
national data on discount window borrowings are due to be released at 1630 est 2130 gmt
sandsport data services inc sand 3rd qtr net
spot tin prices on the european free market are currently around 4200 stg per tonne for high grade metal in warehouse rotterdam
uncertainty is growing about the vitality of the global economy and whether the heavily indebted countries can continue to carry the burden of their growing debt without vast new assistance
the other three lead managers are bank of tokyo citicorp international ltd and the industrial bank of japan ltd
what we have now is pins iv he said
dealers generally doubted whether any economic package japan could adopt soon would be effective enough to reduce its trade surplus significantly and said such measures would probably invite further us steps to weaken the dollar
he estimated the two foreign firms share in the merged consortium at less than three pct and added that even the largest shareholders could own only some five pct cable and wireless and japanese trading house c
when asked if there is a rising danger of a worldwide trade war baldrige said yes i dont think theres any question about that
the new five pct tax would be imposed on companies trading more than 100 mln yen a year and apply to paper gold trades gold deposits with banks and trading of gold bars as well as that of jewellery and coins dealers said
unisys corp uis sets quarterly
it said about 300 of these claims have been filed since confirmation of the joint plan of reorganization
analysts are watching with interest the fate of a new us consortium which hopes to challenge japan by developing the most advanced technology for microchip manufacturing
london traders said the asian cocoa was considered unsuitable for western palates because of an acrid odour and a high level of free fatty acids
however major tax payments by banks on behalf of customers drew to a close this week lessening the need for liquidity
american barrick abx sells coal assets
each granted the other an option to purchase authorized but unissued shares amounting to 2499 pct of the fully diluted shares outstanding
revlon said its board of directors unanimously approved the merger agreement
belgium launches bonds with gold warrants
salomon sa euro cp credit terms detailed
unicorp voting stake hiked in union enterprises
the additional acquisition of refinery and distribution assets by pdvsa has been expected as venezuela has been moving aggressively to enhance its role in the oil industry from producer to excpanding its presence in the downstream sector
volcker sees dollar as factor in monetary policy
it described damage as severe washington said four american frigates shelled and destroyed two iranian platforms at the rashadat formerly rostam field at 1100 gmt on monday in response to fridays missile attack on a us flag ship in kuwaiti waters
some saw stocks unchanged to as much as three mln barrels higher
last summer the administration took the controversial step of offering the soviets subsidized wheat but were embarrassed when moscow spurned the proposal on the grounds that the 15 dlr per tonne subsidy still left us wheat prices far above world market prices
the remaining outstanding balance currently 11812000 dlrs will be retired at a price of 1041 dlrs a bond
this does not mean the gas bubble is gone nance said
buitoni also said its consolidated revenue during the first quarter of this year was 429 billion lire up 51 pct from the comparable 1986 period
it wanted a clause saying buyers of non performing assets could not be prosecuted
the option is subject to negotiation of a definitive agreement and the receipt of certified financial statements from americom
while bra kanon is due to return home this week for funeral ceremonies for a sister of ivorian president felix houphouet boigny scheduled to be held in the countrys capital yamoussoukro between march 19 22 senior ivorian delegates will be present throughout the london talks the official said
the report says that imports of wheat soybeans soybean meal and cotton are not likely to decline as a result of last septembers 31 pct devaluation of the rupiah because of a rise in domestic demand
invitron corp invno 1st qtr sept 30 net
if brazils suspension of interest payments remains in effect earnings for the whole year will be reduced by a further 100 mln dlrs
the agency will also examine the effects of recent acquisitions on service merchandises operating results financial structure and cash flow
the 1987 budget deficit is targetted at a huge 527 billion riyals or 31 pct of total outlay
saba said that japanese chip companies have pledged three mln dlrs over the next five years to the new organisation and expressed regret that no american company has seen fit to join
uganda which earns about 400 mln dlrs annually from coffee exports over 95 pct of its foreign exchange earnings had sought to raise its ico quota to 30 mln from 245 mln 60 kilo bags according to sources close to the cmb
the stock will be redeemed april 30 at the scheduled redemption price of 10150 dlrs a share plus accrued and unpaid dividends
producers say they have been losing 25 to 30 ecus on every 100 kilos exported due to the failure of rebates to fully bridge the gap between ec and world prices
advisories for low wind chill temperatures have also been posted across portions of upper michigan and northern lower michigan
bolivias proposal to repurchase at a deep discount the 900 mln dlrs it owes to foreign commercial banks is likely to be accepted central bank governor javier nogales iturri said
philippines to repay some principal in 1987 89
after the meeting a bonn finance ministry spokesman quoted stoltenberg as saying he was confident that foreign currencies could be stabilised at around current levels
buffer stock manager aldo hofmeister has been mandated to continue selling rubber during the interim period
clark told a meeting of the minerals research organisation in milton keynes he foresaw a 250000 ounce increase in consumption for use in autocatalysts currently the largest single application for platinum
the admission of china to gatt which is the multinational group of nations which negotiates international rules on trade would offer both potential export markets and potential competition for us industries he said
the notes are guaranteed by the sumitomo bank ltd
the statement said brazil had two ways to take a return by way of submission to manoeuvres and outside pressure or the way which leads the country to its independence
venezuela may ask imf for credits
currently while there is an implied obligation on the part of firms to make markets in issues they underwrite there is no formal obligation to do so
dutch cocoa processors unhappy with icco buffer
the new figures are considered a major disappointment to the poorest countries
ameritrust corp said its board declared a two for one stock split and management intends to recommend to directors an increase in the quarterly dividend to at least 50 cts per share presplit from the current 44 cts
the company said there had been 35 mln dlrs total principal amount of debentures outstanding
the official briefing reporters on this weeks semiannual imf meetings said the issue would be discussed this week and the us had an open mind on the proposal but it did object to concessional interest rate relief
in an attempt to compete in the 1970s woolworth opened a discount general store chain woolco and j
he 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
we expect two or three more to follow suit during the next season
henkel which also holds a subordinated note convertible into another 17 pct of the companys stock intends to acquire the additional shares in the open market over an extended period of time clorox said
a statement issued by the wallenberg holding companies ab investor and forvaltnings ab providentia said they had taken over an option held by nobel industrier sweden ab to acquire 33 pct of the voting rights in swedish match
the yield applies to maturities of one two three and six months
consumer spending capital spending goverment spending and net exports data show very weak first quarter gnp growth of one pct he said
ec external trade commissioner willy de clercq has written to his us counterpart trade representative clayton yeutter outlining the ecs concerns
willis faber says it making agreed 3026 mln stg bid for stewart wrightson
new orders rose sharply in march with production also higher
cipec studying copper market backwardation
hyponex hypx debt downgraded by s p
as ive said before we sort of see ourselves as engaged here in a real struggle to preserve the worlds free trading system because if the largest market in the world the us goes protectionist we run the risk of moving down the same path that the world did in the late 1930s he said
shr loss six cts vs loss 76 cts net loss 343748 vs loss 40 mln revs 51 mln vs 48 mln year shr profit 12 cts vs loss 145 dlr net profit 611784 vs loss 77 mln revs 216 mln vs 197 mln
imports of capital machinery and foodgrains by the government were not included in the policy they added
all we ask is a chance
woolworth eased to 813p from 830p
brierley unit issues 100 mln dlr eurobond
the company said it paid a total of 8700000 dlrs including the assumption of liabilities
since it decided to put a ceiling on debt payments peru has been barred from international monetary fund lending
zimmerman said the adverse impact from lower us lumber product prices would be felt by lumber mills in eastern canada first migrating westward
japans liberal democratic party ldp has drawn up a detailed plan calling for large tax cuts and an increase in government purchases of foreign goods the head of the committee working out the plan junichiro koizumi said
qintex said it is extending the offer to allow princeville to comply with federal law restricting the ownership of us airlines by non us citizens and to finalize the terms and conditions of the letter of credit or bank guarantee required under the previously announced acquisition agreement
payment date is may 28 with the first coupon payment in 1988
earthquake damage to a pipeline sharply cut ecuadorean production from march to may this year
in the previous auction for 1000 billion yen the four majors took 92 pct of the issue to increase their tankoku inventory the managers said
michigan national corp mnco votes dividend
moore financial group inc mfgi sets payout
the only british gold coin available at present is the sovereign which contains 02354 ounces of gold
but these companies are not unwitting victims of the take or pay dispute between transco and producers he said
bootle of lloyds said the expected base rate cut would pave the way for an early one point cut in mortgage lending rates
australian plans philippine branch for takeover
bankers say the rebound in oil prices is the major reason for cautious optimism
suburban bancorp inc said it received approval from the federal reserve board to acquire valley national bank of aurora for an undisclosed price
the garden supply company was acquired from itt corp itt in december along with om scott and sons co
the soviet union was prominent in third country destinations taking 167700 tonnes while poland was credited with 54500 and south korea 50000 tonnes
colorocs corp clrx year loss
year to date domestic crude output was estimated at 841 mln bpd off 77 pct from 911 mln a year ago while gross crude imports averaged 396 mln bpd up 281 pct from 309 mln it said
gaf gaf group reconsiders buyout bid
he did not say if foreigners would be allowed to buy all or part of the companies
under the cartel proposals 33 yards each capable of building ships of more than 10000 gross tonnes would build a maximum of three mln compensated gross registered tonnes cgrt in 1987 88
phh phh buys two design firms
the creditwatch affects chrysler credit canadas short term notes guaranteed notes debentures and the recently completed 75 mln dlr 925 eurobond issue due april 15 1993
shr loss 15 cts vs loss 27 cts net loss 1905774 vs loss 2160717 revs 868117 vs 307135
volcker reaffirms g 6 negotiating process washington march 26 federal reserve board chairman paul volcker urged congress to allow the government to continue its flexible negotiations on exchange rates through procedures such as the recent paris meeting of industrialized countries
it said that underwriters mcleod young weir ltd and wood gundy inc agreed to acquire the issue at 25568 dlrs a share with yield to retraction on october 15 1991 of 7 1 8 pct a year
last month purolator agreed to be acquired by a company formed by ef hutton lbo inc and certain managers of purolators us courier business
us markets offer glimpse of volcker nightmare
oper shr loss 128 dlrs vs loss 59 cts oper net loss 460 mln vs loss 211 mln revs 639 mln vs 778 mln 12 mths oper shr loss 165 dlrs vs loss 209 dlrs oper net loss 593 mln vs 750 mln revs 2982 mln vs 3213 mln note for the qtr and yr 1986 loss reflects pretax loss of 450 mln and 555 mln which included a writedown of inventory and restructuring charges amounting to 371 mln and 379 mln and a tax gain of 940000 and 3094000
pldt is the largest of 58 telephone companies in the philippines
kansas said that southerns management had estimated the value of the railroad in 1983 in the range of 281 mln dlrs to 12 billion dlrs
there will be no management fee for participants
many economists are less optimistic predicting growth will likely be in the 20 to 22 pct range
when you cut sugarcane you dont even have to produce sugar he said
international minerals said it set a completion target for the spring of 1989 by which time necessary food and drug administration approvals are expected to be obtained
millard nor em warburg a money management and venture capital firm would disclose the value of the transaction
it said all other conditions remain unchanged from the previous announcement
the transaction is scheduled to close in early july the company said
figures do not tally exactly because of rounding
a five year forecast is expected to be issued in early summer a spokesperson said
the two free trade agreements fta would gradually remove tariffs and other barriers to cross border trade in goods and many services
the price depends on the amount of the inventory that will be in the stores on the closing date
the arrangement also provides for the dismissal of pending litigation between the parties lucky stores said
trading on the singapore rubber market a major producer price indicator for japanese end users is usually active after the end of the current final session here
uncertainty however remained the flavour of the day in tokyo currency markets
the april 13 sale to be evenly divided between the three and six month issues will result in a paydown of 1235 billion dlrs as maturing bills total 2555 billion dlrs including the 9 day cash management bills issued april 7 in the amount of 1101 billion dlrs
in the first quarter of this year sales were hit by the cold weather at the start of the year
obviously a lot of prospective buyers believe nabisco should pay a higher yield because of that traders also asserted that the higher yield in fridays pricing reflected the total debt issuance of one billion dlrs so far this year by nabisco
qtr ended april 30
london based trader cargill uk ltd confirmed it sold one cargo of white sugar to india for shipment april 15 may 15 at yesterdays tender
we have talked to a number of our major suppliers and weve discussed the upcoming change with them but nothing has been finalized imperials manager of western crude supply gary strong said
it has a debt of more than 2 billion dlrs
the company said the cosmetic product line in the us market alone could represent 20 mln dlrs in revenue
there is broad agreement among economists that the fomc at last tuesdays meeting also left fed policy unchanged
the notes have a 9 3 4 pct coupon and were priced at 9924 to yield 290 basis points more than comparable treasury paper
bp oil ltd the uk marketing and refining arm of british petroleum co plc bpl raised its pretax operating profit on a replacement cost basis to 182 mln stg in calendar 1986 compared with 66 mln stg in 1985
shr profit five cts vs loss one ct net profit 504000 vs loss 102000 revs 314 mln vs 320 mln nine mths shr profit 17 cts vs profit 26 cts net profit 1729000 vs profit 2596000 revs 927 mln vs 1126 mln note 1986 3rd qtr net includes a after tax charge of 555000 dlrs for sale of reliacare inc
hunt manufacturing co hun sets payout
in addition cascade said it was granted an option to purchase all the assets including the plant and equipment located in france
but analysts said the price rises have been slight so far and some questioned whether japan would be successful in forcing japanese companies to cut production in the long run
it said the investment package is subject to shareholder approval and will be presented to its adjourned shareholder meeting on march 26
until greenspan answers them the markets will remain nervous added stephen slifer money market economist at shearson lehman government securities inc
in april seasonally adjusted unemployment fell by an upwardly revised 21600 to 302 mln or 109 pct it said
southwestern bell sbc votes split ups payout
meanwhile amcs b 1 preferred stock remains under moodys review
barclays midland follow natwest base rate cut
he estimated that economic growth for the year as a whole would probably be between one and two pct
the spokesman said the discovery was made at the gos ia 1 offshore exploratory well about 38 kms east of langsa in aceh
australias terms of trade also fell by 18 pct over the past two years he told parliament
the rating agency cited alleghenys high leverage and poor operating performance as well as reduced cash flow
get 115 cts per bushel in this next payment 575 cts in certs and around 55 cts cash 575 cts minus gramm rudman farmers who did not receive advance deficiency payments at signup will receive 63 cts per bushel
an analyst who asked to remain unidentified discouraged the pickens rumor
standard oil srd in texas natural gas find
pam transportation services inc ptsio net
m 1 a which is m 1 plus daily interest chequable and non personal deposits fell 874 mln dlrs to 7997 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposits fell 952 mln dlrs to 18445 billion dlrs
maximum export earnings would be achieved by orderly marketing of traditional amounts thus re establishing brazils market share after last years unusually low exports of 99 mln bags enabling it to rebuild stocks and maintaining cordial relations with the producer group which backed brazils stance at the ico talks they added
general mining earlier reported that 1986 per share earnings rose 28 pct to 616 cts
this they said could provide sudan with a clean bill of health from the imf that it could take to western government creditors grouped informally in the so called paris club to reschedule debt payments
it said it would be an unnecessary expense as most vessels calling at the port already have their own cargo handling equipment
but ogpin denied manila was playing down the prepayment aspect of the restructuring
brazils state oil company petrobras has asked the army to withdraw the troops which were occupying its oil installations since tuesday petrobras said in a statement
applications totalled 440 mln ringgit for the 100 mln of bills on offer
the notes are guaranteed by dai ichi kangyo bank ltd
qtly div 41 cts vs 41 cts pay june 10 record may 29
consumer prices rose 03 pct in february after rises of one pct in january and 05 pct in february 1985
lawson reiterated the governments aim of reducing basic taxation to 25 pence in the pound but added given my decision to use the greater part of the fiscal scope i now have to reduce the psbr that goal cannot be achieved in this budget small companies corporation tax is also being reduced to 27 pct he said
there were two scenarios for the yala crop with a high forecast of around 40 mln bushels conditional on adequate rainfall within the next three to four weeks
unit wage costs in uk manufacturing industry rose 33 pct in the three months to end january on a year on year basis after a 31 pct rise in the three months to end december the department of employment said
compuscan inc cscn 3rd qtr feb 28 net
balances in tax and loan note accounts fell to 9828 billion dlrs from 11418 billion dlrs on the same respective days
pointing to a likely widening of the french trade deficit to around 29 billion dlrs this year from 24 billion in 1986 it warned that a further depreciation of the dollar against the franc could lead to a renewed loss of competitiveness relative not only to the united states but also to the newly industrialised countries this could result in further major losses of market share particularly in the non oecd area which accounts for almost a quarter of french exports it said
the common shares will be resold at 15875 dlrs per share and the warrants will be resold at 725 dlrs per warrant
asked after his testimony if this meant the united states would close its markets to japan if they did not open theirs baldrige said im not prepared to say that but it certainly would be one of the alternatives studied baldrige said in his testimony japan had a closed supercomputer market and a restricted telecommunications market
it also reported a clash between iraqi naval units and several iranian boats carrying men to attack an iraqi oil terminal at the northen tip of the gulf
australia and canada could then increase their wheat exports as they are more competitive than the us he said
hanover insurance hins raises dividend
volckers letter was written march 24 in advance of the committees march 25 approval of the proposed legislation
blockbuster entertainment corp said it will sell its investment in amtech corp to the company chairman david cook and president kenneth anderson
the upturn in activity in all industrial sectors except the agro food sector in february more than compensated for the fall in january while construction and civil engineering experienced a recovery which appears likely to extend over the next few months
in his prepared remarks clark said that the united states has tended to take canada for granted although it exports to its northern neighbor more than twice what it exports to japan
net includes discontinued operations loss four cts shr vs nil in quarter and loss seven cts vs gain one ct in half
the move follows similar amendments last november to canadas revolving standby credit facility with international banks
brazil first requested the 300 mln dlr credit last november to help it develop the sale and generation of electric power
the hancock subsidiaries said they sold their entire 1627603 share stake in price communications to the company for 11 dlrs a share on feb 23
the other two companies were not immediately available for comment
the report says indonesias economic growth in calendar 1986 was probably about zero and the economy may even have contracted a bit
a proposed buyout of taft broadcasting co by dudley taft and other investors includes a plan to sell the companys entertainment group according to one of the investors
analysis and technology inc aati hikes payout
usair was halted on the new york stock excahnge for dissemination of the news
the institute whose forecasts are more pessimistic than those of the other four leading german institutes said the economy had passed its peak in the summer of 1986 and its prospects had dimmed significantly since the autumn
merrill said the loan is a back up to a proposed euro commercial paper program
sri lanka will tender overnight for 52500 tonnes of us canadian and or australian wheats for april 8 16 shipment under the export enhancement program if us origin us exporters said
such an increase would raise runs about 100000 bpd and add to us stocks
the federal reserve board voted unanimously to propose a formula for calculating the risk of interest rate and currency swaps as part of its ongoing effort to come up with a new capital standard for us banks that takes into account the riskiness of a banks loans and other assets
the result is that the prices quoted are far away from two firms production costs
the modest overall increase which is expected will be due to significant gains in production of corn soybeans palm oil and palm kernels constraints to significant overall increases in agricultural output include a shortage of disease resistant seeds limited fertile land insect pests and a reluctance by farmers to shift from rice production to other crops the report underlines
he said renouf built up its nzi holding over the past six months
michigan general mgl extends exchange offer
w woolworth co said sales for the five weeks ended april 4 rose 02 pct to 591 mln dlrs from 590 mln dlrs
nato calls on greece and turkey to avoid force
the reagan administration has asked lugar to offer the measure the aide said
justo marin ludena president of the cafe peru group of cooperatives which accounts for about 20 pct of perus exports told a harvest of up to 1800000 quintales 46 kilos was expected this year
the flats were among the properties it bought last year from hongkong land co ltd hkldhk for 14 billion dlrs
idemitsu said it hopes to raise high octane sales to 20 pct of its total gasoline sales from about seven pct immediately after the launch of its idemitsu 100
the haitian american sugar company closed on friday because of a huge surplus of unsold sugar
roach said fears that major bank shareholders would impose a restrictive and conservative bank culture on the dynamic sharebroking industry were unfounded
this compares with a target of 147 mln and last years yield of 140 mln
it added gencorps board had an obligation to present any alternative proposal to shareholders in a way that allowed competing offers
delfzyl india 14700 mt bagged sugar about 30 dlrs 750 1000 ppt a c benham
privately held pantry inc which operates 477 convenience stores in five southeastern states said it has engaged alex
overnight interbank sterling was being offered at eight pct shortly after the banks announcement
klm royal dutch airlines klma said it agreed to take a 15 pct stake in air uk ltd a subsidiary of british and commonwealth shipping plc bcoml in a transaction worth around two mln stg
output in the energy sector rose four pct and mining output 10 pct
indian reserve bank tightens credit policy
the brazilian coffee institute ibc confirmed having closed may export registrations effective april 6
the company said it plans to sell 250 mln dlrs of notes due 1997 and an equal amount of debentures due 2017
tp lilaratne head of the governments rubber controller department which monitors the industry told replanting and base budding would have to be undertaken before late may when the monsoon rains begin
dixie yarns inc and ti caro inc jointly said they signed a merger agreement calling for dixie to acquire all ti caros stock in exchange for three mln of dixies common
service resources corp src 4th qtr net
john psarouthakis chairman and president of jp industries said that the company hopes to promptly negotiate an agreement with the special committee of clevites board
chang said the pace of increase in our reserves is much slower now than before and our currency is getting more stable he said the reserves mainly the result of the trade surplus with the us rose at the rate of two to three billion us dlrs a month between january and may
the source said if approved the authority would allow a transaction to be carried out
the dispatcher said the elevator was filled with corn and a nearby drying building holding soybeans was on fire
mark iv industries inc iv started tendering for all conrac shares at 25 dlrs each on march 24 and owned 99 pct of conrac before starting the bid
staodynamics inc sdyn 4th qtr net
three months edged up to around 6 9 16 5 16 pct from 6 7 16 1 4 pct while six months was quoted a touch firmer by some banks at seven 6 3 4 pct
money market sources said the market had begun to doubt that a widely expected drop in bank base lending rates to 95 pct from the present 100 pct was really on the cards
michael armacost under secretary of state for political affairs was asked at a press conference whether japans moves to boost its domestic economy and open its markets could persuade the us not to impose tariffs on japanese imports said and replied it is probably too early for the figures to demonstrate that the situation has turned around and to permit the result you have described armacost said the us hopes japan will take steps to lift its domestic economy and reduce dependence on exports remove barriers to imports and settle outstanding trade issues
it had a 444 billion yen current profit in the first half of 1985 86
as a result of the tender offer banner said it will own approximately 96 pct of the outstanding shares of rexnord
sept 30 end shr 14 cts vs 20 cts net 733980 vcs 871720 revs 147 mln vs 120 mln avg shrs 5130190 vs 4302430 year shr 61 cts vs 60 cts net 2763308 vs 2550133 revs 500 mln vs 431 mln avg shrs 4565189 vs 4277046 fiscal 1987 net both periods includes charge 480000 dlrs to adjust premium reserves for workers compensation and liability insurance claims
another 5000 salaried employees in akron work for goodrich
more than 100 applications for licences are pending
they agreed however that further actions will be essential to resist rising protectionist pressures sustain global economic expansion and reduce trade imbalances it welcomed the plans set this week by the japans ruling liberal democratic party to stimulate its economy with what the communique termed extraordinary and urgent measures including an unprecedented front end loading of public works expenditures the meeting of the so called group of seven brought together ministers and central bank governors of the seven major industrial democracies the united states japan west germany france britain italy and canada
the chinese state owned bank of communications ltd hong kong branch is planning a 200 mln hk dlr certificate of deposit issue banking sources said
some 257 billion dlrs in bids for six month bills were received including 785 mln dlrs in non competitives
todays liberalised financial markets are making it extremely difficult for japans monetary authorities to prevent the yens rise against the dollar but they have several options other than normal intervention bank of japan sources said
p and c foods inc foodo 3rd qtr oct 3 net
the company said it accepted subordinated notes and debentures in the aggregate principal amount of 952 mln dlrs which were tendered in exchange for 5897 mln shares of american quasar common stock and class a warrants to acquire 2340 mln additional shares of american quasar common stock for five cts per share
us cotton certificate expiration date extended
sales to non european community countries rose to 419541 tonnes from 349511 while sales within the ec fell sharply to 29712 tonnes from 86216
slow growth of exports and a tight rein on state spending has lowered estimated gdp growth to three pct in 1987 from an earlier forecast 35 pct
a representative of the poultry industry said statistics showed that chicken is less frequently the cause of salmonella poisoning than beef dairy products or salads and other mixed foods
customs can do a good job when given the tools but when its hands are tied it doesnt have the authority to demand form o documents tracking merchandise from source to destination he said
japan is in the process of joining the international cocoa organisation icco which will bring the number of members in the body to 36 icco officials said
it also said steven reid a company founder and president of the test division has made an offer to purchase the unit
we have no money left to continue operations rigaud said
associates corp issues 15 billion yen bond
it said the dividend includes a quarterly dividend of three cts a share and a special payout of two cts a share which covers the period from november three 1986 when the fund began operations to december 31 1986
azpur told reporters after a cabinet meeting that the measure is fundamental to conserving the economic and financial strength of the petroleum industry he said the new exchange rate which goes before the central bank for final approval tommorrow will allow the state oil company petroleos de venezuela sa pdvsa to solve its problem of working capital and implement investment plans estimated at 20 billion bolivars for 1987
finance minister boris gustev told the supreme soviet defence spending in 1988 would total 202 billion roubles the same as announced last year
the company said it expects to save 13 mln dlrs a year through the dividend suspension
murphy raises crude oil posted prices one dlr bbl
hilton which hopes to build 50 all suite hotels within five years may take in partners in the new venture he added
but british chancellor of the exchequer nigel lawson rebuffed funaros bid and said commercial bank loans were a matter for banks and not governments
to buy i p sharp of canada
the net services deficit narrowed to 146 mln dlrs from 253 mln revised from 268 mln in january and 192 mln a year earlier the bureau said
a spokesman said the group led by joseph f
uk money market given further 166 mln stg help
smith barney harris upham and co
we have run this alternative proposal to the accounting firms
senate seeks us probe of canadian corn levy
the new exchange now planned will apply to the securities and investments board for recognition as an rie at the appropriate time the agricultural futures exchange said
subroto said the government was also working to ease other problems including granting easier terms for remote areas or deep water conditions
prime minister jacques chirac told a television interviewer as soon as the law is approved and it will be in a matter of weeks all workers made redundant will have the right to social benefits the money which will be used to alleviate unemployment through retraining or project finance will come from a 75 billion franc government fund set up last month to finance spending on special areas of concern
and payment of greenmail or a preferential price by a target company to buy back a raiders stake should be prohibited under the revised laws
magma lowers copper 075 cent to 66 cts
in march the gold silver ratio narrowed from 74 to less than 67
it will only disappear if people lose confidence in the direction in the economy buttrose said adding that offshore investors would carefully watch the governments promised tough economic statement on may 14
penril corp said it is seeking to sell its triplett electrical instrument corp subsidiary in bluffton ohio and tripletts alltest division in hoffman estates ill as part of a plan to concentrate on its three profitable division and reduce its debt load
non members brazil and china have pledged to cooperate with the atpc and limit their exports to 21000 and 7000 tonnes respectively during the quota period
1986 results include operations of realtech realtors which was acquired in 1986
comments by bundesbank board member claus koehler yesterday that rate cuts were needed to curb money supply growth from speculative capital inflows and by west berlin state central bank president dieter hiss that there was no natural lower limit to the discount rate had however no immediate impact
nogales said that over the next few months bolivia would make a one time offer to buy back all its commercial debt at the price it trades on the international secondary market 10 15 cents on the dlr
the government for which competition and the deregulation of markets are major political themes is unlikely to make final decisions tomorrow on how to act against japan officials said
they said the department has until midnight tonight to set the duty but may not make the finding public until tomorrow
farah fra again omits quarterly dividend
in paris leading industrial nations agreed to cooperate closely to foster currency stability within ranges reflecting underlying economic fundamentals or economic reality
bethmanns chrobok said if anything is to happen before venice it must be in fiscal rather than monetary policy
standard and poors corp said it raised to bbb plus from bbb hechinger cos 86 mln dlrs of convertible subordinated debentures of 2009
american tax dollars are being used to subsidize foreign agriculture and mineral production that is often in direct competition with our producers sen
japan is disappointed at the recent threats of trade retaliation from the european community ec just as the trade situation between the two is improving japanese trade and industry minister hajime tamura said
viacom shares climbed 2 1 2 to 50 3 8 by midafternoon
despite the closure of ipswich and the severe harvesting problems in other factory areas british sugar is maintaining its estimate of sugar production this campaign at around 12 mln tonnes white value against 134 mln last year the spokesman said
in december the fdic sold about one third of its junior convertible preference stock in continental to the public in the form of common stock
the m 4 money supply measured as liquid assets in public hands rose 167 pct last month against 81 pct in january and compared with this years eight pct target
it said it and the toussie viner group with which it made the merger offer were assessing their options regarding the hecks investment
the bond is in partly paid form with 30 pct due on april 15 and the remainder due for payment on july 15
on paper however argentinas lending syndicate could shrink dramatically because over 100 of the countrys 350 creditors have exposure of less than five mln dlrs
the companies said they choose a 77 acre site in west greenwich ri for the ventures manufacturing facility which will make biotechnology based pharmaceuticals
gunnar gold in venture agreement
the offer will begin thursday subject to clearances from the staff of the interstate commerce commission and will expire 20 business days after commencement unless extended
horner said that new boundaries for the trading range of the yen are likely to come out of the g 5 and g 7 meetings
shr profit 277 dlrs vs profit 135 dlrs net 1550 mln vs 774 mln nine mths shr loss 143 dlrs vs profit 366 dlrs net loss 604 mln vs profit 1952 mln assets 4515 billion vs 4269 billion loans 3633 billion vs 3446 billion deposits 297 billion vs 233 billion
i worry that we are heading into a period of misuse of contracting approaches too early in the development stages of important military contracts beall said adding long term we have a very serious problem in addition beall told the conference the greatest competitive threat to defense contractors is in defense electronics due to the governments attempt to take advantage of competitively priced products made outside the us
the new cds repayable from six months to one year carry interest rates ranging from 407 pct to five pct he said
these will be due on the first and third wednesday of the month whereas at present most fall on the 20th and 25th
by lowering ascs county posted prices for corn the usda could encourage farmers to engage in pik and roll corn sales where pik certificates are used to redeem corn stored under the government price support loan program and then marketed
this was a bloodbath said one money market economist
santi told reporters the government is launching a drought relief operation mainly involving the use of water trucks to send water to affected farming areas
the economy ministry said perus debt to the world bank was 521 mln dlrs at end 1985
coupon and price of the bond issue as well as the exercise price of the warrants will be announced april 27 after the close of the amsterdam stock exchange
prices of natural gas at the wellhead rose 18 pct in february after rising 42 pct a month earlier and were 148 pct lower than they were 12 months earlier the department said
us ambassador michael samuels charged during the council debate that canada was trying to preserve domestic jobs by insisting that herring and salmon be processed at home
iowa beef a susbsidiary of occidental petroleum corp mailed a letter to members of ufcwu local 222 informing them a lockout imposed by the company on december 14 would be lifted and meatpackers could return to work under iowa beefs revised last and best final offer according to zack
i dont remember a time when there was such a clear distinction by geographic area fdic chairman william seidman told reporters
the sia us semiconductor industry association doesnt even have an office here a source close to the industry said
oper shr profit 17 cts vs profit 10 cts oper net profit 5146000 vs profit 2691000 revs 2695 mln vs 2744 mln avg shrs 205 mln vs 170 mln nine mths oper shr profit 14 cts vs loss 45 cts oper net profit 4131000 vs loss 7148000 revs 8028 mln vs 7660 mln avg shrs 204 mln vs 169 mln note net excludes discontinued operations loss 1667000 dlrs vs profit 42000 dlrs in quarter and loss 2123000 dlrs vs profit 1334000 dlrs in nine mths
the company said a merger of rexnord and a subsidiary of banner will be completed before mid may
it said strong shipment gains in four of the five appliance categories resulted in the unprecedented monthly levels with records set for shipments of refrigerators automatic washers disposers dryers and dishwashers
the brazilian and ecuadorean experience shows orthodox solutions to debt cases dont work said a senior peruvian government official responsible for debt affairs
recent developments have led to moves for a summit of latin american presidents and debate on new solutions
deputy assistant secretary of state for inter american affairs paul taylor acknowledged that the baker plan has not yet succeeded as well as we hoped but if the debtors at the conference were hoping to hear an official commitment to try a new tack they must have been disappoiunted
cra and whim creek did not disclose the price yesterday
latest year net includes pretax charge 350 mln dlrs from sale of wine operations and reorganization of spirits operations in us and related reduction in tax expense of 277 mln dlrs
japans gross national product gnp rose a real 08 pct in the october december quarter after an upwardly revised 07 pct increase the previous three months the economic planning agency epa said
extension of the contracts on the blocks has involved detailed negotiations but so far no extension has been granted
us lawmakers are gearing up for a showdown between protectionists and free traders as a major trade bill winds its way through committees to a vote by the full house of representatives in late april
cut were baker internationals senior debt to a minus from a and commercial paper to a 2 from a 1
dutch january industrial production rises 48 pct
the shipbuilding companies streamlining program will raise productivity to compete with south korean yards which have also been hard hit by declining orders and low ship prices in recnt years the sources said
now that the debt agreement is out of the way our economic and financial officials can concentrate on their work like increasing government revenue and efficiency he said
southern california edison co sce qtly div
the companies are engaged in servicing sales and telemarketing of consumer electronic merchandise
kuwaits oil minister in remarks published today said there were no plans for an emergency opec meeting to review oil policies after recent weakness in world oil prices
dealers say fed intervened buying dollars in us 
funaro said however he was told creditors understand brazils position and do not wish to make the negotiation for the renewal of the credit lines more difficult
essentially what it domes loss does is put more focus on the importance of the restructuring and puts more pressure on creditors to agree to the debt rescheduling said an oil analyst who asked that he not be identified
official sources said toyotas application was likely to be approved
current world prices range from 49 to 55 dlrs per tonne unit but china suffered heavy losses when the price slumped to 39 dlrs earlier this year it said
it said it would consider alternatives such as restructuring
dealers noted that as part of the authorities attempts last week to ease pressure for lower rates the bank had issued a one billion stg tap stock with a view to subduing the government bond market
the department and the private sector each imported around 115000 tonnes of sugar last year when national consumption was 280000 tonnes
romero said he would also visit oxford universitys department of agricultural economics to discuss ways of avoiding the copra process altogether
i would say that every company which issued foreign currency debt saved some basis points when compared to same maturity plain vanilla us issues an analyst said
us agriculture secretary richard lyng said he will ask japan to offer a share of its rice market to us exporters when he visits that country next month
the capital increase will boost our operations she said
coconut oil is high in saturated fats but unlike saturated animal fats they do not enter the blood and lymph systems leaving fatty deposits connected to heart disease he said
us feedgrain sales will also drop if japan opens up its beef imports since japan depends almost entirely on feedgrain imports mainly from the us japanese officials said
equity oil co eqty 4th qtr loss
baker said this lending should help debtors make a transition to more open economies and freer markets
pearson plc psonl said camco inc its 654 pct owned us oil and oil services subsidiary signed a letter of intent covering camcos purchase from baker international corp bkon of substantially all the business of reed tool co reed a leading manufacturer of drilling bits had sales for 1986 of around 76 mln dlrs
prior year net includes tax credits of 537 mln dlrs in quarter and 329 mln dlrs in half
the spokesman said that under current regulations the ec would have to accept all the offers if there were no technical problems
yesterday citicorp cci with audio video affiliates inc ava an owner of cyacq said it had offered to acquire from dixons after the merger of cyclops into dixons cyclops industrial businesses for 128 mln dlrs more than alleghany corp y is currently scheduled to pay for them
mr
under an agreement with the us and australia japan has been increasing imports by 9000 tonnes a year from march 31 1985 to reach a projected 177000 tonnes in the year to march 31 1988
bermuda star line inc said it has agreed in principle to acquire 815 passenger ss liberte from barnstead shipping ltd for use in its new york montreal northeast passages cruises starting this summer
resorts intl rta debt ratings affirmed by s p
at present if the market price has been above or below the reference price set at 20166 malaysian singapore cents a kilo in the current agreement for six months the reference price is revised by five pct or by an amount decided by the international natural rubber organisation council
fisons plc fisnl year to end 1986
chairman urges freer information flows
cts automatically offers a portfolio diversification between fixed rate and variable rate investments
but we are also frustrated the official said the 40 pct rise of the yen over the last 18 months has hit japan hard forcing exporters to slash spending and lay off workers to make up for lost sales abroad
this was above previous estimates of the current account deficit and compares with a surplus of 29 billion stg in 1985
some of domes group of 56 major creditors might move to block such a sale arguing they have a claim on company assets
analysts said the offer was between 10 and 20 dlrs per share too low
under the first financial proposal comdata holders would receive no more than four dlrs per share in cash and could receive all stock
s and p cited hechingers outstanding record of sales and earnings growth as well as what it termed the companys position as one of the best operators in the retail home improvement industry
the conversion price was set at 177 1 2 pence representing a premium of 1199 pct over yesterdays closing price of smith and nephew shares of 158 1 2 pence
shr 465 hk cents vs 293 final div 14 cents making 20 cents no comparison net 123 billion dlrs vs 7775 mln turnover 906 billion dlrs vs 752 billion note dividend payable may 29 books close may 11 to 22
us treasury secretary james baker sparked the market fears when he attacked the rise in west german short term interest rates
the central bank made purchases of bank bills outright comprising 120 mln stg in band one at 10 7 8 pct and 315 mln stg in band two at 10 13 16 pct
prices could fall another 10 to 15 cents a pound analysts said
cominco ltd said it sold its 50 pct stake in canada metal co ltd to canada metal senior management for an undisclosed sum
unadjusted sales were 69 pct higher than in january 1986
he told a news conference that rates in the us japan west germany and switzerland were near their lows
in a filing with the securities and exchange commission roland said it sold 50000 shares on feb 4 at 513 dlrs each
ginnie mae which guarantees securities backed by federal housing administration and veterans administration mortgages had planned to raise the fee march one from six basis points to 10 basis points
he said if the americans drop their interest rates then the bundesbank would also drop them
its a merger of equals said analyst john rooney of moseley securities corp
quebecs caisse des jardins issues yen eurobond
there will also be an investor put option annually at par
as rumors circulated through grain markets today that the soviet union has purchased an additional 15 mln tonnes of us corn industry and government sources noted a number of factors that make soviet buying of us corn likely
the group which had owned as much as 95 pct of the total said it sold the stake on march 27 at 15 3 4 dlrs a share
senator urges action to stabilize stock markets
qtr ends feb 28 shr profit five cts vs profit four cts net profit 191000 vs profit 108000 revs 6561000 vs 5896000 avg shrs 36 mln vs 25 mln nine mths shr loss 28 cts vs loss 40 cts net loss 871000 vs loss 990000 revs 9310000 vs 8894000 avg shrs 31 mln vs 25 mln note full name american nursery products inc
producers and consumers failed to agree on a quota formula to share the worlds coffee production during international coffee organisation ico talks that ended last week
noranda aluminum inc
the total represents 96 pct of the workforce compared with 100 pct in february
he expects consumer prices to rise about 4 1 2 pct this year
marine midland banks inc mm 1st qtr net
develle said paribas expected inflation to rise even more than the governments revised forecast perhaps to 26 or 27 per cent this year against last years 21 per cent
the agreement with edf man includes details such as trigger pricing mechanisms they said
in a brief statement announcing the termination of the agreement with fujitsu schlumberger said the decision opened up other possibilities including a possible buyout by fairchild management
the us energy department issued a request for proposals to buy the snettisham hydroelectric project a major part of the alaska power administration
it said it initially bought the stock in connection with risk arbitrage and other investment activities in the ordinary course of its business
ec euratom french franc eurobonds expected
austrian gross domestic product growth for this year is likely to be between 05 and 15 pct helmut kramer head of the semi official institute for economic research wifo said
court enjoins tender for bancroft btv 
year ended march 31 shr three cts vs 11 cts net 384723 vs 800137 revs 51 mln vs 35 mln
volcker said attempts to drive the dollar much lower would undermine the hard won gains against inflation and would risk dissipating the flow of foreign capital
moet hennessy mhsppa is issuing an 800 mln french franc 10 year eurobond with share warrants lead manager lazard freres et cie said
these rates compared with averages of 555 pct for each of the three and six month bills sold last week
the sterling notes will be sold in denominations of one mln and 500000 stg and will have maturities of seven to 364 days
novell inc said its board declared a two for one stock split payable to holders of record at the close of business on march 31
french soft wheat exports to other european community countries fell 18 pct to 413 mln tonnes in the first seven months of the 1986 87 season to january compared with 504 mln in the same 1985 86 period the french cereals intervention office onic said
the business was for april shipments and comprised 20000 tonnes of european rapeseed oil at 318 dlrs 20000 tonnes of soyoil believed south american origin at 314 and 6000 tonnes of malaysian rbd palm olein at 347 dlrs all per tonne cif
that is utterly ridiculous the texas democrat told reporters
the sources said this indicated a move by the government out of other types of debt to gain access to foreign funds through the more acceptable loan stock form
s p may downgrade 66 billion dlrs of chrysler debt due to planned amc purchase
the mood in the united states is extremely disturbing
it said the settlement is subject to negotiation by burlington northern the citibank na unit of citicorp cci and bankers trust co bt the bonds trustees
sand technology systems inc said it is considering a reverse stock split of at least one for 10 and expects to report a second quarter profit compared to a loss last year
mthly div 71 cts vs 71 cts prior pay march 31 record march 16 note franklin high yield insured tax free income fund
diplomat said it will cut costs by several means including dismissal of 100 workers at its corporate headquarters consolidation of its warehousing and shipping operations and reduction of management salaries
one economist said it is cheaper to run a riyal book in london than staff an expensive offshore operation in bahrain there is now the nucleus of a two way market in london jeddah based riyad bank set up as a licensed deposit taker in london in 1984 while its main rival in saudi arabia national commercial bank ncb won a licence in november 1986
the cmb has estimated that production will rise 20 to 25 pct in the current 1986 87 october september season to over three mln bags
shr 21 cts vs 20 cts net 596000 vs 594000 revs 8693000 vs 8164000 nine mths shr 61 cts vs 58 cts net 1784000 vs 1653000 revs 263 mln vs 230 mln
symbol technologies inc smbl calls warrants
banks try to calm manilas fury over debt deal
qtly div five pct stock vs five pct stock pay april 16 record april six
alcoa raising prices of aluminum beverage can stock eight pct
basic american also said it engaged the health care capital market groups of thomson mckinnon securities inc to act as investment banker in placement of its proposed notes
they will be issued in denominations of 1000 and 10000 dlrs and listed in luxembourg
the santos group stakes will rise to between 525 and 70 pct of the four atp259p blocks as a result of the purchase
bank of france leaves intervention rate unchanged at 7 3 4 pct official
air canada the state owned airline said it signed a letter of intent to acquire 65 pct of ems corp a calgary based messenger service which operates in western canada and the us gelco corp gel earlier said air canada agreed to buy its canadian gelco express ltd unit for 54 mln us dlrs
speaking after talks with the committee here gros also said he did not expect to make interest payment to the banks at this moment
producers would prefer that non member cocoa not be included in the buffer stock because if it is countries such as malaysia benefit from the cocoa agreement without joining it the delegates said
concern over an anticipated fall in dutch competitiveness this year against a background of an average 2 1 2 pct wage increase zero inflation and a firm guilder has triggered some calls for a change in monetary policy to help boost growth
it should use foreign funds for production and construction with stress on firms making goods for export or import substitutes
wcas told comdata it believes that it can get commitments for this financing
api also said that three of the states with the highest number of bank failures last year were large oil and gas producers texas oklahoma and kansas
italian treasury minister giovanni goria met brazilian finance minister dilson funaro today and expressed italys willingness to support his efforts in trying to resolve brazils pressing debt problems
paper says us may seek to curb foreign takeovers
finance for danish industry has danish crown bond
dealers said call money was soft because tax payments on behalf of customers had been less than expected so far
the wendel group has acted in cooperation with another shareholder group headed by london investor christopher moran who sought unsuccessfully last year to take over zondervan
control data cda to buy peripherals stake
construction of the hotel is under way and due to be completed by june 1988 the agency added but gave no more details
muda said the group of eight had some common ground with the big consumers because they agreed on the need for basing quotas on what he termed realistic criteria the breakaway group believes the old quota system which gives brazil a 30 pct share of the quota exports does not reflect up to date supply and demand trends
bundesbank calls for central bank cooperation
it said the dividend will be paid to shareholders of record march 20
the bonds pay 7 1 2 pct and were priced at par
vietnam will resettle 300000 people on state farms known as new economic zones in 1987 to create jobs and grow more high value export crops the communist party newspaper nhan dan said
sallie mae said previously interest on the notes which are for settlement march 12 and are due sept 10 1987 will be reset the day following each weekly t bill auction
delegates said there seems to be optimism about settling another issue that of the floor price
j bildner jbilo sees improved results
but he said the market is sensitively looking at what is happening in major nations
the cbt has said it may apply for approval of the yen bond futures contract a cftc spokesman said
qtly dividend 73 cts vs 73 cts pay june 10 record may 15
yields on the remaining fixed rate cmos the balance of the 500 mln dlr issue range from 7 1 4 to 927 pct or 90 to 160 basis points over comparable treasuries
shell invested 500 mln dlrs over the past five years to upgrade its oil refining and marketing business but further investment required an appropriate rate of return he said
ess0 lowers premium petrol pump price
the company also said a note attached to its earnings concerning a gain in 1986 on certain sales was incorrect and should be disregarded
economists have predicted the 1987 trade surplus would end up three to five billion dlrs higher than last years dismal 101 billion dlr total
associated now holds 33 pct of northern stars current issued capital a company official said
redstones previous offer had been valued at 32 billion dlrs
continental will reduce expenses through job cuts and reducing office rental costs
the court overturned a claim by danny dattel that a case for damages should not be allowed after such a long interval
it said closing is expected by early fall subject to regulatory approvals
malaysia to cut oil output further traders say
nova nvaato considering bid for dome dmp 
south africa sets news conference on debt
shr 19 cts vs 14 cts net 487000 vs 344000 revs 7492000 vs 5883000
hemlo gold gained 1 1 4 at 26 3 4 lac minerals was up 1 5 8 at 41 placer development rose 1 1 4 at 43 3 8 and lacana mining gained 1 at 18
datagraphix a manufacturer of microgrpahics equipment has been merged into anacomp and will be operated as a separate division anacomp said
teck hock owes over 100 mln singapore dlrs and the creditor banks earlier this week agreed to let teck hock fufill profitable contracts to help balance earlier losses
honduras has been authorized to buy about 75000 tonnes of us wheat about 15000 tonnes of us corn and about 6000 tonnes of us tallow under an existing pl 480 agreement the us agriculture department said
the debentures have an 8 3 4 pct coupon and were priced at 99055 to yield 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the release of the feed wheat followed recent strong representations by the uk grain trade to the commission
the yield reflected a premium of 91 basis points over that of comparable us treasury issues
two japanese steelmakers capital spending falls
tbg holdings nv tgbnas 1986 year net
he declined to name the delegations
burlington had previously agreed to a 244 billion dlr buyout from morgan stanley group inc ms one dlr per share lower than a sweetened 77 dlr per share bid made by samjens last week
the source who declined to be identified said iran had fired the chinese made missile at a hulk off its southern gulf naval port of bandar abbas and scored a hit
moodys noted that pharmaceuticals and other health care markets are characterized by a greater stability of cash flow
qtrly div 125 cts vs 125 cts prior pay april 1 record march 13
one 13 billion franc tranche of 5000 franc bonds will have a fixed rate of 870 pct and issue price of 9630 pct
an outboard marine spokesman would not comment on the rumor
bellsouth corp said it completed its previously announced agreement to acquire dataserv inc for an exchange of shares
exports of fat and oil bearing raw materials rose to 28700 tonnes from 19800 on a fat oil basis and to 137200 from 89900 tonnes actual weight
to achieve brucellosis free status a states cattle population must remain uninfected for the previous 12 months
feedlot marketings have been running at a heavier than expected pace
m 3 is the main money supply aggregate used by the french monetary authorities
the stock closed at 550 dlrs bid on friday
new canada issue almost sold out at close
he expects the sale to raise three billion francs they added
the eiu said in its world trade forecast it revised oecd economic growth downwards to 25 pct this year compared with a 28 pct growth forecast in december
a 250 dlr spot charge will be added to the new york cocoa futures july delivery contract starting wednesday march 18 the coffee sugar and cocoa exchange said
usda undersecretary daniel amstutz said this week that congress should give usda authority to keep the soybean loan at its current effective rate of 456 dlrs per bushel rather than increasing it to its minimum allowed level of 477 dlrs
the senate republican leader said the 0 92 option posed two problems
martens said the plan involved raising non fiscal receipts by 58 billion francs and reducing spending by 143 billion
japan february money supply rises 88 pct
earthquake stricken ecuador is negotiating with nigeria to have the african country lend it 10000 barrels per day bpd of crude for export deputy energy minister fernando santos alvite told 
hoogovens concludes takeover of philips cirex unit
the acquisition which is subject to canadian government approval would be through amalgamation into a specially created company
i dont think the central bank has a final target said an executive with a us bank
feds johnson says louvre accord still vital
finlands current account balance of payments showed a deficit of 25 billion markka in first quarter 1987 against a deficit of 32 billion in the same period last year the bank of finland said in a statement
he was in london to brief producers on the managua meeting
this years budget initially projected a deficit of only 335 billion shillings but in mid year the government had to impose new taxes to keep the deficit roughly on target
us brass mill copper stocks fell to 185400 short tons copper content at the end of january from 191200 short tons at the end of december according to the american bureau of metal statistics
first boston corp and shearson lehman brothers inc co managed the deal
treasurys baker says governments should not mandate or guarantee debt relief
unilever plc and nv 1986 4th qtr to dec 31 london march 3 unilever plc share 4957p vs 4419p making 17755p vs 13796p for full year
basically the courier division is a company that has 450 mln dlrs in revenues
the company also said it plans to redeem the debentures on june eight
joe mcmillan a senior vice president told after addressing a houston meeting of the american institute of chemical engineers by early in the next century synthetics should play a significant role in this countrys energy supply mcmillan also told reporters at a news conference that he believed synthetic fuels would become economic to develop when world oil prices reached a 30 to 40 dlr a barrel price range
uk reserves lift hopes of further base rate cut
treasurys baker outlines trade bill criticisms
royal bank of canada said it estimates 1987 loan losses at one billion dlrs a 25 mln dlr increase over last year
the directors of the company called a special meeting and recommended its dissolution last month citing falling volume and increasing costs
amoco corp is apparently the successful bidder for debt laden dome petroleum ltd according to a published report
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
the company spokesman said the government has not responded to the proposals and there have been no formal meetings since january
treasury secretary james baker said in a newspaper interview that he supports the current course of federal reserve board monetary policy
company corrects pay date april 25 not april 28 in story that ran yesterday
ross stores inc rost 4th qtr jan 31 loss
danaher corp dhr 4th qtr net
opposition of the sort that blocked fujitsu could end up harming us firms and undermining a trend toward multinational tie ups some analysts said
debtors have already shown considerable willingness to sacrifice over the last five years so economic adjustment is not at issue one latin american official said
the company also owns or has an interest in 142 mln acres of oil and gas exploration land in the province of alberta the heart of canadas oil industry
american nursery ansy buys florida nursery
for oelmuehle the acquisition of noblee means access to new markets the statement added
gmac unit issues 50 mln australian dlr bond
telebyte technology inc tbti year
the 137000 tonnes comprised 59500 tonnes of wheat for china 53000 of wheat for the soviet union and 24500 of wheat for algeria
the sec has been in the limelight for the past year as its investigators have probed into the most colossal insider trading scandal ever uncovered on wall street
dorgan said the bill would save 24 billion dlrs over five years protect family farms and eliminate government accumulation of stocks because nonrecourse loans would be halted
the international consumer business will show 22 pct compound annual growth in earnings between 1986 and 1992
salant qslt files reorganization plan
a permian spokesman said that the south louisiana sweet posted prices was also raised 50 cts a barrel to 1735 dlrs
s and p noted that while argentina brazil mexico and venezuela each face unique economic problems the lack of progress toward moderating their debt service burdens has been disappointing
allied stores corp a subsidiary of campeau corp was acquired by acquired by the canadian developer last year
as previously reported it sold 9534633 of its imperial shares on march nine
a house agriculture committee meeting later today to draft a disaster aid bill is expected to spark a debate between lawmakers who want to expand the 0 92 or de coupling provision to cover feedgrains and those who oppose 0 92 or want it severely limited congressional sources said
fw woolworth and co said that 2223996 shares of armel incs aml common stock were tendered to and accepted for payment by woolworth under the terms of the previosuly announced cash tender offer which expired at 2400 midnight edt on october 16
this would conflict with international obligations throw a large wrench into the current round of trade negotiations and could easily boomerang he warned of the tariff proposals
texas international co said it has retired 2700000 dlrs of its 10 pct third delayed convertible snior subordinated notes of 1993 series a and b
fuel storage tanks in france burst into flames
sterling remained firm around 159 dlrs compared with its close here on friday at 15865 dlrs
moodys investors service inc said it may downgrade 215 mln dlrs of debt of caesars world inc and its unit caesars world finance corp
processed palm oil stocks in february fell to an estimated 193060 tonnes from 205060 in january and 225576 in february 1986
fnma announces 10 and 20 year mortgage products
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 732 mln stg and exchequer transactions some 245 mln
ecuador squeezed by the slide in world oil prices in 1986 had only 138 mln dlrs in net international reserves at the end of january about equal to one months imports
caesars was placed on creditwatch for a possible downgrade march nine following investor martin sosnoffs bid
bank of japan calls for long term efforts on trade
this brought combined wheat and barley exports since the season started on july 1 to 760 mln tonnes substantially up on the 402 mln exported in the same 1985 86 period
shr loss five cts vs profit six cts net loss 1200000 vs profit 1400000 nine mths shr profit 100 dlrs vs profit 84 cts net profit 237 mln vs profit 199 mln note year ago results are pro forma since the company was created in march by the transfer to a master limited partnership of all domestic assets of petrolane incs liquefied petroleum gas division
county natwest capital markets is the other co lead manager
attributable profit 185 mln stg vs 165 mln making 664 mln vs 516 mln
integrated circuits ictm sets record date
the letter said some areas had been experiencing the drought since august and in the rice growing district of kurunegala there had been no effective rainfall since june 1986
swiss give argentina credit for nuclear plant
mobils strategy in the exploration and production sector will be to give most attention to exploration possibilities with the greatest long term potential the company said
the exposure faced by the industry stems from take or pay contracts under which pipelines bought gas on long term contracts they could not sell
bankers trust co said it is raising its broker loan rate to 7 1 2 pct from 7 1 4 pct effective immediately
arbitragers speculated another overnight messenger service may emerge as a likely bidder for purolator
the hull and machinery of the herald of free enterprise were valued at 25 mln stg and were insured by townsend thoresens parent company peninsular and oriental steam navigation co plc porll the vessel was in turn reinsured in the london market with lloyds and various other companies larner said
the company also said it plans to pay an initial quarterly dividend of five cts a share on the shares
david wood official spokesman of the general agreement on tariffs and trade gatt told a news briefing the decision was taken after bilateral consultations failed to resolve the row
pca figures show about one third of the countrys population is dependent on the coconut industry
excluding these basf corp turnover rose four pct from 1985
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
he said the production fall was due to typhoon damage to more than 6000 hectares of canefields last year
africa loans
the airline with something to lose will be air canada
weizsaecker on a four day official visit to argentina said argentinas problems require joint action from creditor and debtors countries and not prepared recipes from creditor banks
fesharaki leader of the energy program at the east west center in honolulu hawaii was speaking on the asia pacific petroleum outlook
the notes which mature on march 31 1996 became convertible into 23 mln shares of lilly stock at 6631 dlrs a share beginning march 18 1987
supreme equipment systems corp seqp 2nd qtr
the chairman of the port employers organization svz jacques schoufour said he was unhappy with the decision and added there was now no alternative to proceeding with redundancy plans
it said it proposed the amendments in response to shareholder concerns that under the existing resolution voting rights could be attached to the preference shares that are disproportionate to common share voting rights
china will receive loans totalling 390 mln dlrs from japan and the world bank for investment in new highways and port facilities
obviously nobody wants to pay more than you have to
he also told a news conference following a cabinet meeting that the group of five g 5 and g 7 do not have any plans to meet for talks
korth said boeings business appeared to be leaning too heavily to the military side as opposed to commercial
the company said gwinnett has a weekday circulation of about 27500 and a sunday circulation of about 30900
fiscal policy has become gradually more expansionary but simply raising government spending and increasing the budget deficit is an inflationary form of stimulation said rob lee chief economist at south african mutual life assurance co
after the companys annual meeting rober mercer goodyears chairman and chief executive officer also said goodyear expects to report a profit of more than one dlr a share from continuing operations in the first quarter
the us agriculture department usda earlier this year forecast a drop in 1986 87 coffee production in the ivory coast due to drought in the western part of the country
moscows decision at that time to reenter the us corn market strengthened the perception of warming farm trade prospects
hydro said the drop was caused by failure to bring on stream a second well cutting september production to just two days
day to day money is a bit tighter one trader said
mark iv industries inc iv 4th qtr feb 28 net
cattle being placed on feed lighter than normal
but some experts worry that the chemical industry may be headed for trouble if companies continue turning their back on the manufacturing of staple petrochemical commodities such as ethylene in favor of more profitable specialty chemicals that are custom designed for a small group of buyers
newmont mining corp held 5250376 du pont co shares or about 22 pct of those outstanding at the end of 1986 down from the 5970141 shares or 25 pct of those outstanding it held a year earlier newmonts annual report said
elders ixl ltd elxas says it is happy to leave preferences shares of brewer carling okeefe ltd outstanding after an undisclosed bidder made an offer to acquire all of carlings outstanding preferred stock
he gave no further details of the sale but added french millers were worried about the unfair competition facing french flour due the lack of end of season storage premiums for wheat
tehran radio monitored by the british broadcasting corporation said a spokesman for irans war information headquarters was responding to us officials remarks about taking military action against iran the radio also quoted an iranian foreign ministry spokesman as saying iran would respond decisively to any aggressive measure by the united states
the pooling of resources in semiconductors is a positive move why should the government step in to prevent it japans minister of international trade and industry hajime tamura told a press conference that interference by us government officials in the fairchild deal was inappropriate
direct investment abroad led to a capital outflow of 160 billion marks in february after 283 billion in january
the book value of the companys investment in land development operations is 224 mln dlrs
american savings said the purchase will resolve a previously announced disagreement between american savings and the federal home loan bank of atlanta on the replacement of the capital american savings used to repurchase common shares in january 1985 from former chairman marvin l
terms call for the price to be established through an appraisal process beginning immediately and not to exceed 175 mln dlrs or be below 125 mln dlrs
many prefer swiss francs or eurodollars
oecd consumer prices rise in february
the forecast does not assume a turnaround in production levels until late next year
no date for an offering was announced
time tl says it will refinance debt new york march 19 time inc said it intends to make a cash tender offer for its 150 mln dlr outstanding 10 5 8 pct notes due october 15 1992
the bank more than doubled its loan loss provision to 497 mln dlrs at the end of 1986
immucor inc said its board of directors has declared a five for four stock split in the form of a 25 pct stock dividend payable april 15 to shareholders of record march 27
he declined to identify the service america officials in the acquisition group
beryl sprinkel chairman of the council of economic advisers reiterated the reagan administrations opposition to a tax increase and its pledge to reduce the deficit by cutting spending and fostering economic growth
a major shift of real resources to the external sector about 4 1 2 pct of gdp by 1990 91 was required for the economy to expand in line with potential for employment to grow and for the debt gdp ratio to stabilize it said
he added i do not think there will be a trade war at all on friday washington announced plans to put as much as 300 mln dlrs in tariffs on japanese electronic goods from april 17 because of tokyos failure to observe the agreement
it is now seen as essential that any pacts involving direct market participation through a buffer stock have a high degree of transparency and do not contain the risk of open ended borrowing that occurred in the tin pact they said
andriessen hints fats oil tax could go to summit
dealers said that now the question was to see how the terms of imminent operations would be set with great market interest focussed on the likely three next issues
people are hungry for yield
italian treasury to issue new certificates
endata inc datao 1st qtr net
it said citicorps proposal properly may be viewed as the permissible acquisition of certain assets and liabilities of s and l branches rather than the acquisition of an s and l citicorp savings the successor to the failed fidelity savings and loan association has assets of 49 billion dlrs and operates 86 branches in california mainly in the north
the prospects of the international coffee organization ico reaching an agreement on coffee export quotas before september appear dim alberto hesse former president of the european coffee federation said
the group said it paid about 69 mln dlrs for the 1389600 goodrich shares which are being held by quantum fund nv a netherlands antilles investment firm advised by soros
the sources said the market may also be wary of agressively selling dollars for yen before tuesdays february us trade data
ohio edison co said it has completed the sale and leaseback of 30 pct of its 30 pct interest in unit one of the perry nuclear power plant receiving 509 mln dlrs for the interest
otherwise the labour scene looked bleak with the bank strike posing the most serious problems for brazils crisis laden economy
british caledonian group announces big losses
dudley taft to pursue taft broadcast tfb bid
a massive attack on the mark which could come if we get bad news out of the us would require a much higher intervention amount raising the danger of inflation he said
national city bancorp said directors at the annual meeting declared a 10 pct stock dividend payable may 22 record april 24
a major reason for the inflows was the markets conviction that the mark was headed higher
franklin michigan insured sets payout
duenas and four other military men who were assigned to the authority in 1978 will return to the ministry of defence where they worked prior to their appointments at the coconut agency
glenn english d okla sparked sharp controversy with its proposals to implement a 0 92 program for 1987 wheat and 1988 winter wheat
he said the survey showed currency transactions by trade houses and exporters contributed little to the dollar fall
the ico executive board will meet from march 30 to april 1 but the full council is not due to meet again until september
subject to the scheme would be loans extended to debt ridden countries such as mexico and argentina they said
of 2000 mln hectares remaining up to 16 mln are destroyed each year by destructive logging practises and by local farmers
net proceeds will be used to reduce debt at the companys main subsidiary new jersey natural gas co
buckhorn inc said itd nine million dlr backlog for orders and a less expensive operating environment should yield significant levels of operating profits for 1987
our priority is development but i insist that there cannot be development if we dont fulfil our obligations he said
xuto said in his consultations with representatives of major exporting and importing countries over the last few months i have found a constructive attitude and willingness to be flexible on the part of all concerned it is imperative that we try to settle the major outstanding issues in the course of this week since a considerable amount of technical drafting work will remain to be completed he said he will immediately start consultations with producers and consumers
the company will also sell its fluids handling operations which makes pumps and valves
s p upgrades williams cos wmb debt securities
you always like to think if they can do this deal at no risk there should be someone else in the world that could do it higher said one arbitrager
the central bank said in a statement the measures included increased provisions for high risk borrowers and a provision for future pension fund obligations
two weeks ago before the study was completed contel announced it would seek to terminate the proposed merger
one diplomat said the call for a report showed ministers were determined not to let the japanese question drop
it will help us in getting the negotiations underway lyng told in an interview tuesday
bankers here expressed confidence the two top financial policy makers would quickly patch up their relationship to steer the economy through a particularly difficult time
but cane acreage in guangxi and yunnan which accounted for 28 pct of the 1985 crop has risen by 10 to 30 pct in 1986 87 because cane growing is more economic there he said
they said licences were issued at the start of the year to import crude palm oil but were subsequently revised to include rbd olein and rbd oil
however the figure for january alone showed a fall in output of 01 pct from a year earlier
zayre corp zy raises quarterly
exports rose to 1394 billion crowns in february from 1253 billion in january against 1416 billion in february last year
as of dec
genetic laboratories inc genl 2nd qtr loss
preussag said rationalization measures already introduced would not begin to take full effect until this year
three months was quoted at 313 stg at midsession
other significant purchasers for the current year were mexico and honduras it said
elder beerman stores corp said owners of about 70 pct of its stock have offered to take the company private by offerring 30 dlrs per share for the remaining 30 pct of its stock
in addition the company said it will announce a software program that lets users create documents in different languages or mix languages within a single document
shr 34 cts vs 33 cts net 1031000 vs 972000 revs 279 mln vs 269 mln nine mths shr 93 cts vs 76 cts net 2802000 vs 2267000 revs 861 mln vs 777 mln note 1987 3rd qtr and nine mths revs includes sales to adt inc of 30 mln dlrs and 109 mln dlrs
in a filing with the securities and exchange commission industrial equity which is principally owned by brierley investments ltd a publicly held new zealand company said it bought 400400 calmat common shares between april 9 and 13 for a total of 105 mln dlrs
st lawrence one three ports marseilles manfredonia range 20000 35000 mt bulk wheat 5000 222500 10 15 4
theres a lot of comfort in knowing youll be guaranteed the governments loan price of 5225 cents a lb
venezuelas biggest private company la electricidad de caracas will meet with bank creditors in new york on monday to discuss the danger of a default on its 622 mln dlr foreign debt a company spokesman said
these figures are 42 to 55 pct higher than last seasons record of 72 to 73 mln tonnes according to private sources and 56 to 85 pct up on the official 71 mln tonnes
market sources have put the total value of ccfs selloff at between four and five billion francs
if you start selecting priorities your priority is not my priority
poehl the most senior central banker apart from paul volcker of the united states enjoys a strong international reputation which it would take a newcomer years to build up
premier industrial corp pre 3rd qtr net
it expects the deal to close in about 60 days
the possibility is that commerce bank would like to see it sold at these levels because they can get more for it now than they have been able to in recent years he added
japan to allow more foreign brokers at auctions
ellmann said the stock may have also gotten a boost today from some optimism concerning new products the company is currently working on
the japanese government will also participate in the venture by providing financing to nippon through the japanese oil corp chevron said
i am not sure we can wait until late april he added
usda orange juice yield estimate
representatives from brazil colombia mexico and nicaragua will meet here friday to discuss the economic impact of falling coffee prices a nicaraguan official announced
an insee official said the final figure for february would be released later this month
the company also said through yesterday when its tender offer for 3300000 princeville shares was to have expired it had received over seven mln princeville shares in the bid which has been extended until march 23 at 1800 est
the five leading west german economic research institutes said the government should do more to stimulate economic growth and called for early introduction of tax cuts planned for 1990
fees are 1 1 4 pct for selling 3 8 pct for underwriting and 1 4 pct for management including a 1 8 pct praecipuum
ec farm liberalisation seen hurting thai tapioca
shr 441 dlrs vs seven cts qtly div 10 cts vs 10 cts in prior qtr net 2955000 vs 75000 sales 727 mln vs 700 mln note net includes pre tax gain of 78130000 dlrs from termination of retirement plan for salaried employees and 875000 dlrs charge for reorganization costs dividend payable november 17 to holders of record november two
as of march 13 renouf said about 3847375 units had been tendered
union carbide says 1986 long term debt was 306 billion dlrs vs 171 billion in 1985
the office said 120 mln dlrs of the 1989 issue 635 mln dlrs of the 1992 issue and 30 mln dlrs of the 1994 issue will be reserved for the federal reserve system for its own or customer accounts
it said the us acquisition adds about 15 mln dlrs to its annual sales volume
as a major sugar producer we are urging them to write a new agreement which would revive world prices yulo said
total m1 fell 53 pct to 5952 billion dlrs in february after a 12 pct rise in the previous month
vernitron corp said it has set a new record date for shareholders entitled to vote on the proposed merger of vernitron corp with sb holding corp for july 10
more cynical traders said the pressure of market forces and politics in debt heavy latin american producer countries could bring ico members back around the negotiating table sooner than many imagine
trans world airlines inc complicated the bidding for piedmont aviation inc by offering either to buy piedmont suitor usair group or alternatively to merge with piedmont and usair
the market had recovered slightly to around 172 dlrs a lb yesterday from its four year low of 155 dlrs in early january due to the absence of soviet nickel cathode deliveries but shearson sees soviet shipments soon returning to last years buoyant levels which should ease current tightness
it also owns an undeveloped gold project
the notes have a 7 1 4 pct coupon and were priced at 99875 to yield 61 basis points more than comparable treasury securities
the us agriculture department said it will begin charging interest tomorrow on the over 12 mln dlrs the department of transportation dot owes usda to pay for its share of the cost of shipping food aid on us vessels
in the western hemisphere both dominican republic and mexican nearby raws were bid 15 points discount to july new york and offered five points under but in limited trading it said
a minority of ec ministers opposed to an oils and fats tax on imported and domestically produced oils and marine fats succeeded in blocking the idea during this years annual ec price fixing
continental bank said it continues to expect that the final distribution to shareholders will be in the range of 1650 dlrs to 1725 dlrs per share and will take place in late 1988 or early 1989
bp said it is asking standard oil for the use of its shareholder list in disseminating the offer on which the standard board has not yet taken a position
woolworth z march sales up 02 pct
it seems that when the buffer stock manager is absent from the market prices go up while when he declares his intention to buy quite often the reverse applies traders said
the executive board has limited its current discussions to administrative matters and is set to adourn thursday
the situation is still uncertain at the moment
singapore oil companies to set own pump prices
at the moment we do not expect any extraordinary influences such as there were last year it said
there was no immediate response from norcros
any move by japan and west germany to boost their economic growth could lead to a quick change in the us position
remaining shareholders would have until later this month to sell their shares to stora the company said in a statement
but a hot spell was sorely needed after far heavier than normal rainfall for several weeks he said
baker was optimistic about brazil which has stopped interest payments on much of its outstanding debt with foreign commercial banks
dealers said that demand had been seen for the tap from both domestic and overseas sources including from japan and the us although the issue had not been designated as free of tax to residents abroad fotra widespread bullish sentiment for the market in general had generated foreign buying
referring to zambias preparations for a possible cut in economic links with south africa kaunda told in an interview on march 1 my main concern of course is the mines because whatever happens we must continue to run the mines according to mapara tazara handled 11 mln tonnes of freight last year and is still working well below its present 14 mln capacity
this is certainly a reason for heightened watchfulness but not for stimulative steps he said
sri lanka today ordered its armed forces to defend the islands territorial waters as india prepared to send a flotilla with relief supplies that colombo says it does not want for the tamils in the jaffna peninsula
the peoples daily said henan shaanxi gansu and hebei are also suffering from drought
subroto says indonesia supports tin pact extension
they declined to disclose details of the talks
uk money market deficit forecast at 800 mln stg
the market had been sustained in large part during its recent rally by a virtual conviction that the ruling conservative party would first call and then win a general election early this summer
webcor said as previously announced it has failed to make payments to the bank and is also in technical default of loan agreement covenants
uk average earnings rose 76 pct in january underlying rise 75 pct official
if youre the fed theres no reason to do anything said steve slifer of lehman government securities inc
average reserve replacement costs were 828 dlrs per barrel of oil equivalent during the past three year period representing a little more than half of the industry average the company said
woolworth holdings says it bidding 244 mln stg for superdrug stores
the iea said assuming crude and product prices remain nar current levels some destocking by end users can be expected
reagan has approved plans for the united states to step up its naval presence in the gulf despite congressional expressions of concern and he has called on us allies to help maintain freedom of navigation
italys gross domestic product gdp will grow three pct in real terms this year and 27 pct in 1988 said economic information company data resources europe inc dri michel girardin dri europes senior economist said at a conference that italian gdp growth this year will be mainly driven by consumption and especially investment girardin said the driving force behind gdp growth next year will shift from domestic demand to exports as a result of expected depreciation of the lira against the major currencies
even for zero coupon bonds and floating rate notes a secondary market had not developed hennicke said
the westpac move follows base rate drops by other new zealand trading banks recently
asked what factors might destabilize the markets the official cited a lessening of market fear about intervention a completely unexpected change in the economy of japan the us or west germany or resumption of comments by government officials seeking to talk the dollar up or down
schlang said chemlawns customer base could be valuable to another company that wants to capitalize on a strong residential and commercial distribution system
the company said over 576 mln dlrs of last years group losses came from commercial insurance lines and 282 mln dlrs from its personal auto insurance business
older germans can remember two bouts of galloping inflation this century
telecom tele completes sale
india gets 140 mln dlr world bank loan
todd carries b 2 senior subordinated notes due 1996 and b 3 308 dlr convertible exchangeable preferred stock
daryl elser president of steel technologies will be president of the new company it said
zimbabwe gdp rises 02 pct in 1986
chinese spot march will be set at 110000 yen per 15 tonne lot from 90000
the us agriculture department detailed rice supply demand milled basis data for thailand the worlds major rice exporter as follows in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 132 133 146 146 production 1188 1214 1300 1300 imports nil nil nil nil domes use 873 873 880 880 exports 370 370 434 434 end stocks 077 104 132 133
the company said commission hearings on the stipulated settlement are expected to start next month
smith barney harris upham and co analyst edward atorino lowered his rating on mcgraw hill inc from a strong buy to a buy saying earnings this year will be a little less than he previously expected
currency options pioneered by the phlx in 1982 had become an accepted means of hedging against foreign exchange risk and had grown in popularity he said
varian associates inc said it is holding discussions with philips electronics regarding the purchase of philips broadcast transmission unit in the united kingdom pye tvt limited
analysts said jardine matheson will also enjoy sharply increased revenues from financial services mainly its 50 pct share of jardine fleming holdings ltd jardine fleming yesterday reported record profits for 1986 of 2095 mln dlrs against 1047 mln in 1985
security pacific corps security pacific merchant bank said acting as lead manager it has offered 270 mln dlrs in 30 year and 35 mln dlrs in 15 year mortgage pass through certificates
kentucky central life insurance co said the company said it will declare a 200 pct stock dividend on monday
sprinkel said the recent recovery of domestic demand in japan and europe has been one of the weakest in the post war period
january is the first major export month and the figures thus give a good indication of the current crop they said
most economists said the fed will inject reserves indirectly via customer repurchases but they added that the fed might opt for a direct injection of reserves via overnight system repurchases
coniston declined comment and the pritzkers had no comment
commodity prices are already considered by the fed in the making of monetary policy
the banks certificates of deposit were upped to aa plus and a 1 plus from a and a 1 respectively
we see no reason to change that policy he said
the 140 mln franc issue comprised 70000 bonds of 2000 franc nominal value each
they said consumption would increase due to a rise in demand for cotton yarn in domestic markets and abroad
he and others noted that the new zealand 90 day rate was 27 pct late last week
but steve chang professor of food science at rutgers university said palm oil is definitely not good for human health because it has a high content of saturated fatty acid he added that the higher the fatty acid the greater the blood cholesterol level
csr ltd csras said its sale of delhi petroleum pty ltd will not affect the other oil and gas interests it manages or operates
the company said the debentures are convertible into atcs common stock at 825 dlrs per share
bush industries inc bsh 1st qtr net
borg warners spokeswoman said the company still plans to sell its financial services unit which includes wells fargo security guards and the chilton corp a credit rating service
new zealands inflation rate was 169 pct in the year to end september against 189 pct in the year to end june
sen
they said the abu dhabi government and compagnie francaise des petroles total tpnpa whose total abu al bukhoosh subsidiary owns 51 pct of the field have agreed on the reopening but that a date has not been definitely fixed
americus trust atu and atp initial dividend
moodys investors service inc said it downgraded 700 mln dlrs of debt of dana corp and its unit dana credit corp
london cocoa prices traded today around 1300 stg per tonne down from around 1450 stg in january 1987 and 1750 stg in january 1986
wladyslaw baka head of polands national bank told the official news agency pap yesterday the talks were a step towards possible fresh credits or easier terms
western ussr winter wheat areas have had only light and spotty snow and winterkill is possible tonight and tomorrow night as temperatures drop to minus 10 to 0 degrees f
results in the first few months show it heading in the right direction company president klaus jacobs said
however iafmm said in a statement that it expected chilean and peruvian fish meal production in the first quarter of 1987 to be much lower than the 651000 tonnes produced in the last quarter of 1986 due to a ban on sardine fishing in chile for the month of february and to adverse fishing conditions in peru in the same month
altron inc alrn 4th qtr jan 3
yugoslavian bank gets 90 mln dlr world bank loan
terms of the agreement were not disclosed
mthly div 65 cts vs 65 cts prior pay april 30 reord april 15 note franklin massachusetts insured tax free income fund
toronto dominion unit issues australian dlr bond
the spokesman for ibj japan lines largest creditor said the package may write off part of the outstanding loans and will be worked out before long
delivered propane to japan was quoted at gsp plus 19 dlrs and butane at gsp plus 25 dlrs the traders said
borg warner up amid rumors irwin jacobs sold stock arbitrageurs say
profit from non markborough real estate was 235 mln dlrs in 1986 down from 276 mln dlrs a year ago
the merger would add community banks 20 mln dlrs in assets to 1st sources more than one billion dlrs in assets 1st source said
the decision was based on among other things the advise of its financial advisors goldman sachs and co that the offer of 145 dlrs per share was inadequate
thereafter government payments should be issued in roughly a 50 50 split between cash and certificates brunthaver said
this association will expand our overall activities and significantly enhance our ability to compete in the defense electronics area boeing president frank shrontz said in a statement
allocations of indonesias main traded crude minas had been cut by 50 pct and duri by 38 pct he said
and the initial reaction of currency markets in the far east demonstrates that financial markets are unconvinced that currencies yet reflect economic fundamentals even though the countries appear to do so
the discovery of commercial quaotities of oil was confirmed by technoexport earlier this year in three structures in the shabwa region in the northwestern part of the country 200 kms east of north yemens alif oilfield
interest rate differentials too small banker says
8 proposed a series of guidelines for calculating the risk of other off balance sheet activities that banks would be required to take into account in calculating the minimum financial cushion they would need to maintain
he said the current decline on world coffee markets was not totally unexpected and would have no immediate bearing on colombias financial state which he described as sound
balladur urges g 7 to respect louvre accord
the 140 yen level is key for the dollar because it is considered to be the lower end of the reference range
resorts said the offer will expire at 1700 est on march 27
debt payments this year are expected to total 287 mln dlrs seaga said
venezuela is one of the few latin american debtors which has not drawn standby or extended fund facilty loans from the imf since the regions financial crisis began in 1982
mobil mob to upgrade refinery unit
federal reserve board chairman paul volcker said that debtor nations have made much progress in laying the groundwork for economic growth but a solution to world debt difficulties was endangered by inaction on new financing
outstanding savings on december 31 1986 totalled 545303 billion yen
separately galveston said it agreed in principle with noranda inc unit noranda explorations ltd for an option to earn up to a 50 pct interest in a major mineral property located at the baie verte peninsula newfoundland
the minister believes that market forces will push the dollar back up from its record low of 14470 yen today according to the spokesman
dividend payable april 15 to holders or record march 13
among the assets being acquired are its polyphenyl business worldwide including biphenyl and the heat transfer fluid gilotherm th together with associated manufacturing and application technology monsanto said
also colorado interstate gas cos first mortgage bonds were raised to bb plus from bb and debentures to bb minus from b plus while the units preferred was affirmed at bb
in a filing with the securities and exchange commission the partnership said it bought 400000 hbo common shares for 54 mln dlrs on may 28
susan segal senior vice president of manufacturers hanover said the swaps not only reduce mexicos debt burden but help to recapitalize local industries that may have been squeezed out of the local capital markets
gendex corp xrayo 2nd qtr sept 30 net
the new plan will define the terms on which brazil will seek rescheduling of its 109 billion dlr foreign debt
reminded that senate agriculture committee chairman patrick leahy d vt had written two letters to lyng urging such an offer this official said lyng had received virtually no phone calls from lawmakers on the subject
argentina bolivia costa rica and others are also pursuing normal negotiations with creditor banks while at the same time pressing hard for better terms particularly lower interest rate spreads
certainly funaro got a frosty reception in washington and several european capitals in the past week when he called on government officials to explain brazils crusade for a political dialogue on debt
quebecor issues 60 mln dlr convertible bond
horizon shares jumped 23p to 188 after the announcement while bass shares dipped 13p to 879
the oil part of a five mln additional crude oil loan by venezuela will be processed at guayaquil refineries
brentwood instruments inc said it filed a lawsuit against the university of utah for publishing evaluations of its spiorscan 1000 pulmonary function testing instrument
honeywell hon completes computer business sale
the third identified becor suitor is davis mining and manufacturing inc in fairfield nj lynch said its latest proposal calls lynch to own 75 pct of becors stock and becor holders to retain the other 25 pct
bank of japan to sell 800 billion yen in bills
in response to the growing anger and pressure by the us semiconductor industry president reagan friday announced he intended to raise tariffs as much as 300 mln dlrs on japanese electronic goods in retaliation for japans failure to abide by a 1986 us japanese semiconductor agreement
european community to set up office in peking
parent turnover comprised domestic sales 647 billion vs 684 billion foreign sales 762 billion vs 851 billion
wilson gomes de moura president of the national confederation which groups the bank employees 152 unions representing 700000 workers told the indefinite stoppage would affect all banks
universal medical umbiz distribution set
consumer prices fell 01 pct in february after a rise of 02 pct in january and no change in february 1986 the national statistics office said
the company said the offer and withdrawal rights will expire at midnight april nine unless extended
external affairs minister joe clark today vowed to do everything possible to fight the us action against canadian potash exports but also warned against raising the alarm too early in the dispute
1985 86 at 1045 vs 1045 last month
saudi arabia opposes drastic change in oil price
westronic inc wstx year loss
norcros shares firmed 30p to 342p after the news on investor speculation of a possible hostile bid from williams dealers said
uk money market deficit revised upward
dealerships sold one kind of car a chevy or a ford or a studebaker
with the safveans acquisition it is now mainly a trading and industrial company
german current account surplus widens in february
all wheat 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stks 13705 13648 12554 12587 production 52920 52840 49897 49881 imports 9757 9827 9456 9436 feed use 10179 10082 9019 9056 total domes 51726 51489 48745 48820 exports 10108 10120 9592 9576 end stocks 14899 14999 13705 13648 note world imports exports may not balance due to differing marketing years grains in transit and reporting discrepancies
shr profit one ct vs loss seven cts net profit 63761 vs loss 43006 revs 1961219 vs 1413859 year shr loss seven cts vs loss 20 cts net loss 380273 vs loss 1108151 revs 6245012 vs 5368522 shr out 5950000 vs 5462547
the payment date is may 29 and the issue will be listed in luxembourg
the government would require electroperu which has often run losses since its creation in 1972 to generate a profit of four pct annually beginning next year
closing of the transaction is scheduled for june eight wolverine said
he said commercial union will work closely with dealers for the note program to find the right pricing level to satisfy investor demands
non durable goods sales rose by 13 pct to 7558 billion dlrs in february after falling by 02 pct in january the department said
iraq is the main supplier with 235000 bpd
the yen could rise to 140 yen to the dollar a leading japanese businessman said
in the fourth quarter gdp rose 07 pct over the previous quarter and was up 33 pct on the same 1985 quarter
franklin massachusetts insured cuts payout
us study discusses dropped comsat contel merger
traders said the figure was toward the upper end of expectations and may provide slight downward pressure because of recent sharp gains in futures
president reagan said he would discuss the mideast gulf situation with allied leaders at next weeks venice economic summit and hinted he would seek their help in preserving free navigation
call money traded today at 385 95 pct up from 380 90 yesterday
chemlawn earlier told its shareholders not to tender to waste management
they were change in sensitive materials prices money supply vendor performance average weekly initial claims for state unemployment insurance and contracts and orders for plant and equipment
newmont will retain 15 pct of the stock
bedford computer corp year net
cheltenham and gloucester building society is issuing a 50 mln stg eurobond due april 22 1992 paying 9 1 4 pct and priced at 101 1 4 pct lead manager union bank of switzerland securities ltd said
the dollar fell below 144 yen today for the first time in 40 years as the group of seven finance ministers in washington failed to convince the foreign exchange market that they have a credible strategy for redressing global trade imbalances short of further depreciation of the dollar
century telephone ctl to sell properties
qintex said the letter of credit is to insure payment of princevilles contingent subordinated notes that would be distributed to shareholders of record on the date immediately following completion of the tender offer
saudi arabian oil minister hisham nazer yesterday reiterated the kingdoms commitment to the december opec accord and said it would never sell below official prices
stoltenberg said the wide range of predictions showed how many imponderables had to be taken into account and said no drastic changes in official forecasts were needed
i dont think trade friction will be solved all of a sudden by the visit he said
the british petroleum co plc bpl unit attributed the deficit to stock losses arising from the drop in crude prices in the first half when it made a 11993 mln dlr loss
moodys said it also assigned ratings to euroyen bonds with aaa ratings assigned to the following societe generales 19 billion yen zero coupon notes due 1992
sanctions have provided a very useful excuse for under achieving
id be stunned if we were not going to derive some benefits from the lower dollar soon said one
the offer covers four mln corona common shares and all outstanding 950 dlr corona share purchase warrants expiring august 31 1987 royex said
in the event an acquisition goes through solar systems interest in europharmaceutical would be diluted below its current 45 pct
swedens balance of payments on current account showed a deficit of 500 mln crowns in january after a shortfall of 100 mln in december central bank figures showed
skandia international holding ab the overseas offshoot of swedish insurance group forsakrings ab skandia skdsst said it was buying a 299 pct share in the london quoted property and financial services company nevi baltic plc no financial details were given
they add that santa fes efforts to merge its two railroads remain in regulatory limbo sidetracking many of its strategic plans for the foreseeable future
the transaction was opposed by a group of portsmouth investors who wanted the bank to remain independent according to press reports
clearwater fine foods acquires channel foods
a young country cannot go on indefinitely sacrificing everything for the sake of servicing its external debt president mobutu sese seko commented in october when he announced his governments decision
baker and volcker gave these views at closed door talks yesterday with speaker jim wright and other house leaders
dick darman has contributed mightily to the success of this administration over the past six years and his departure represents a substantial loss he said
american express declared a two for one stock split
until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the governments annual budget on march 17
but in a surprise move liberal democrats and conservative republicans on the committee joined in an unusual alliance to oppose the resolution
the syndicated loan which is unsecured carries a commitment fee of 010 pct per year
tcby enterprises inc said its board has approved a three for two split of its common stock with a distribution to be made on april 24 to stockholders of record on april 9
dan stevens manager of public and government affairs at texaco said the company hopes to fix the pipeline in five days but that will depend on when the water level of the red river recedes
new industry orders fell 19 pct after they had been unchanged in december
the company said shulansky remains senior vice president administration and investor relations
the authorities traditionally prefer a single sustainable rate move one way or the other to half points here and there
santos said it remained financially strong with an injection of 84 mln dlrs from the second instalment of a 1985 rights issue and had cash reserves of 3813 mln dlrs at the end of 1986 against 4019 mln a year earlier
the provisional year on year rise in january was 102 pct compared with a downward revised and provisional 94 pct in december
the securities are available in denominations of 5000 dlrs each
the imf mission arrived in lusaka on february 26 and its talks with the government have taken longer than expected
axlon inc said austin c
norways boycott although forbidding crude oil shipments to south africa on norwegian owned tankers makes an important exception for ships whose final destination is decided while they are at sea
but asked by japanese reporters also linked into the news conference whether the positive reaction meant the us might decide at next weeks venice summit to lift its sanctions on some japanese electronic goods shultz replied these sanctions were undertaken on the basis of an agreement that had been reached between the united states and japan on various sale practices and prices relating to the chip market
it named morgan stanley and hambrechit and quist as managing underwriters
equitorial also said that as of march one it is operating in technical default under its lease of transponders on the galaxy iii satellite due to its inabiliuty to maintain agreed upon financial ratios
to date helm has sold 435000 bambergers for 35 mln dlrs
suburban bancorp woodstock bancorp to merge
both plants are far from state of the art for car manufacturing sites and amc has a history of poor labor relations at each
they said the continental grain co of the united states won the contract to supply the wheat from the ec and other parts of europe
the gao is expected to point out that use of payment in kind pik certificates has helped relieve tight storage by moving grain that otherwise might not have been sold
boston digital corp bosto 4th qtr net
under a three year agreement signed last year south africa will export 600000 tonnes of maize a year to taiwan
the executive committee is due to meet friday at 1100 gmt with the council unlikely to reconvene until late friday consumers said
doe said that before making the pact final it modified it to reflect shells compliance with the tertiary incentive program a provision not in the version published last dec 31
the agreement was signed by nigerian finance minister chu okongwu and the export credits guarantee departments ecgd chief executive jack gill
krelitz industries inc krlz 3rd qtr net
previous prices in parentheses
the company named painewebber merrill lynch and montgomery securities as underwriters
the company said it expects significant contract awards to spitz later this year
metropolitan federal savings and loan association said it has signed a letter of intent to acquire american trust of hendersonville tenn for an undisclosed amount of cash
us study says tariffs and quotas could backfire
cable and wireless plc cawll said its subsidiary hong kong telephone co ltd would cease to be a listed company following the restructure of the companys hong kong units
i expect whatever is reported by the ways and means committee will pass
the ration system had also not had the stabilising effect on the internal wheat market that was intended aziz said
standard and poors corp said that corporate credit quality stabilized in the first quarter of the year even though downgrades outpaced upgrades
some of the rumors in the london markets were that the united states had launched an offshore strike against iranian missile installations
the difficult market for sections and flats of quality steel depressed order tonnages by around seven pct krupp said
the brazilian government also does not have enough money to pay for storage he added
printronix inc ptnxo 2nd qtr sept 25 net
a statement yesterday by secretary of state george shultz after he met with wheat growers that us agricultural products must be competitively priced was significant in that he recognized the importance of the soviet market and the need for us prices to be at world market levels us grain trade industry officials said
japanese corporate investors were active buyers as the end of their accounting year march 31 approached
illinois power ipc files 50 mln dlr shelf
curtice burns foods inc cbi raises payout
he said according to ico statistics there was a shortfall of nine mln 60 kg bags on the world market between october the start of the coffee year and february
the company said it expects to report a loss for the year of about 3125000 dlrs due to lower oil and natural gas prices unsuccessful well workover programs and excessive overhead and corporate expenses
swedens gross national product rose 13 pct last year against 23 pct in 1985 mainly due to a lower than forecast growth in exports and a sharp fall in total investments the central bureau of statistics reported
fees total 1 7 8 pct with 1 1 4 pct for selling and 5 8 for management and underwriting including a praecipuum of 1 8 pct
the yield per harvested acre for winter potatoes is estimated at 234 cwts per acre vs 243 cwts last year
we are pushing the plan on the premise of an official credit to be extended eventually a mitsui spokesman said
the bank said the balance of payments surplus for the first two months of 1987 widened to 78 billion baht from 46 billion from the same period in 1986 while the net capital inflow rose to five billion baht from 31 billion
lyng plans to ask japan to open the door to rice imports by partially lifting the longstanding ban on foreign purchases
tiverton petroleums ltd nine mths dec 31 net
council action is expected soon
the most significant help came last september when the federal government lifted the 10 pct petroleum gas revenue tax pgrt 28 months earlier then planned
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
kenyas late coffee crop is flowering well but the main coffee areas were generally dry and hot in the week ended wednesday trade sources said
the strike has cut exports and imports and made an estimated 160 ships idle
but he told a press conference that due to the high marginal tax rate on north sea operations the main impact of the drop in profit was absorbed by a fall in taxation to 330 mln stg from 145 billion in 1985
analysts are projecting 1987 earnings of 220 dlrs to 275 dlrs a share up sharply from 179 dlrs in 1986
because of the lack of a substantial recovery in energy prices this year especially in natural gas prices it was felt prudent to increase reserves and take losses on loans in this sector
france reduces trade deficit in february
the build up ties in with us plans to start escorting kuwaiti oil tankers next month which have been re registered to fly the american flag to give them naval protection
last year the domestic industry earned a total of 13 billion dlrs a 54 pct leap from 1985
indiana federal ifsl 4th qtr net
the competitiveness of offers will be assessed by taking into account the standard differentials the cost of taking cocoa into store currently 2300 pounds sterling from cif landed and 3800 pounds sterling from cif shipping weights to in store and the cost of carry which currently is 1200 pounds sterling per month the icco said
ccc accepts bonus on poultry to iraq usda
the meeting here is due to end tomorrow evening
the automaker will shut three plants each in its two groups the buick oldsmobile cadillac group and the chevrolet pontiac gm of canada group
middle south msu unit plans to retire debt
baker also repeated his position that the reaction of financial markets to us tariffs on japanese electronic goods showed the importance of the united states not going protectionist
nivison said irts debt to equity ratio currently is less than one to one
no date was established for the renewal of payments
the ufcwu bargaining committee and full membership rejected in late january a contract proposal by john morrell a subsidiary of united brands inc he said
he explained that fluidized bed technology is available in modular units adding that huntington was referring to the traditional coal fired plant which burns pulverized coal
the secs action which was approved by a 4 0 vote specifically removes a regulation against trading futures on designated foreign government debt securities on contract markets that are not located in the country that issued those securities
swift independent packing co said it agreed in principle to sell its huron south dakota pork plant to huron dressed beef for undisclosed terms
grazing lands are parched and the region was unable to produce 117000 tonnes of silage projected in its annual plan
the company said the two units combined are expected to have net revenues of about 25 mln dlrs in 1987
the prices are ridiculous said julian mateo vice president of costa ricas sugar cane industrial agricultural league
firm has coopervision eye stock will buy more
it said accrued interest to march 31 will be paid on that date to holders of record as of march 15
rainfall totalled from five to 50 mm in corrientes five to 31 mm in san luis five to 30 mm in entre rios three to 20 mm in misiones 11 to 17 mm in formosa and one to eight mm in chaco
bankers expect that much of the pressure on the us banks will come from us regulators notably the federal reserve
analyst telzerow estimated that the company would have to borrow about 100 mln dlrs to complete the proposed buyout since crazy eddie has cash and other assets worth about the same amount
the consumer price index rose 83 pct last year
1986 4th qtr and year net includes a charge of 59 mln dlrs and 314 mln dlrs respectively for corporate restructuring
bankers said todays talks concluded months of intense negotiations
despite the low loads trees are said to be in excellent condition and recent flowering and pod setting which will lead to late temporao early main crop beans has been good
shell oil gets 1043 mln dlr contract
circuit systems csyi buys board maker
loss also includes the sale at a loss of the companys aircraft
investment canada said it has allowed the indirect takeover of holt rinehart and winston canada ltd wb saunders co of canada ltd and les editions hrw ltd by harcourt brace jovanovich canada inc
at midday the central bank lowered its money market dealing rates by the same amount
it said the education project aims to increase literacy and school enrollment rates through curriculum reform teacher training parental participation and school construction
hughes tool directors reject merger with baker
nobel industries sweden sa noblst said its arms subsidiary ab bofors plans to sell its 40 pct stake in allied ordnance co of singapore ltd because of its part in weapons exports which contravene swedish law
a company spokesman said gpu expects to continue declaring dividends on a quarterly basis with the rate depending on the progress of the cleanup and on other company operations
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
the commission will draw up a new system of steel production quotas to protect vulnerable ec firms from the full rigors of open competition
trade minister rachmat saleh said indonesia will continue to reform the economy and bring about further liberalisations
cut were the parents junior subordinated debt to a 3 from a 2 and standard chartered banks long term deposit rating to aa 3 from aa 2
the national bank austrias central bank last month forecast the current account would be roughly in balance this year
mattson also declined to comment on whether the directors of baker and hughes have scheduled any meetings to discuss the merger
but if it had hit in july or august when fruiting would be underway it would have been worse mohler said
asked his reaction to the gnp report during a white house photo session reagan replied it wasnt all that bad
the commission withdrew from the package agreed last night proposals to pay early retirement pensions to farmers aged 55 or over who gave up production
the cumulative trade position in july showed a 185 billion dlr deficit after 133 billion in june and 189 billion a year earlier with exports at 491 billion and imports both fob at 676 billion
no pressing need for soviet wheat subsidy lyng
zimbabwe bans polypropylene bags for oilseeds
today purolator revealed in a filing with the securities and exchange commission that director doresy gardner resigned from its board of directors in a letter dated march 10
a typical farm may have from 100 to 150 trees sitting on 10000 square metres of land
gateway federal savings gatwo 3rd qtr net
contracts for june delivery forward could open 25 to 50 cents lower while april will likely open about steady analysts said
shr 16 cts vs two cts net 391000 vs 57000 sales 7917000 vs 7255000 six mths shr 47 cts vs 17 cts net 1164000 vs 422000 sales 279 mln vs 243 mln note full company name is washington scientific industries inc
the baker hughes merger which would would create a 12 billion dlr oilfield services company almost fell through earlier this month when hughes balked at terms of a proposed justice department consent decree that would have given the companies only three months to find a buyer for the reed business
the fitness club industry over the last 10 years has grown tremendously but the question is whether its a fad or a permanent part of our lifestyle said eisenberg of bear stearns
falling soybean crush ratios cut output
additional interest and principal payments may be due on the bank revolving credit lines if the company generates more cash than it needs for operations
shr loss 12 cts vs loss 99 cts net loss 1476000 vs loss 11965000 sales 834 mln vs 1109 mln year shr loss 179 dlrs vs loss 190 dlrs net loss 21720000 vs loss 22969000 sales 2590 mln vs 3173 mln
partly offsetting these outflows a fall in note circulation will add some 340 mln stg exchequer transactions around 300 mln and bankers balances above target about 50 mln
in 1986 avons operational earnings rose 24 pct to 1587 mln dlrs from 1282 mln dlrs a year earlier and sales rose 17 pct to 288 billion dlrs
the climate for precious metals is improving with prices benefiting from renewed inflation fears and the switching of funds from dollar and stock markets brokers samuel montagu and co ltd said
the soviet union has booked a record total of 25 mln tonnes of british wheat and barley this season but only 128 mln had surfaced in customs export figures by march 25 traders said
1985 4th qtr net included writedowns of oil and gas properties
cyacq corp said it extended its 80 dlr a share tender offer for cyclops corp to march 20 from today
semi annual principal payments on the remaining 40 mln dlrs of notes have been satisfied until december 1988 as a result it said
traders said licht forecasts eastern europe plantings at 473 mln hectares against 472 mln in 1986
the deferral of all principal payments until april 1989 will save the company 12 mln dlrs in cash flow in each of the next two years it said
the bank of finland introduced last december three month credits and deposits at rates determined by the central bank and the commercial banks as a shift away from the traditional overnight call money market
on a personal level conable said that he not feel a need to put his personal stamp on the bank noting that i dont have a particular mission here except to be useful to the institution and to the process of development he added so i dont feel a great calling to personalize the institution on the development needs of sub sahara africa conable said that the bank was constantly reviewing new ways for assisting the region noting that half of the recently agreed financing of 124 billion dlrs for banks international development association was earmarked for africa
s p may upgrade wainoco oil wol 
payment date will be april 6
qtly div 25 cts vs 25 cts prior pay may 20 record may eight
the measure now goes to the full house ways and means committee next week but major changes are not expected congressional sources said
united technologies corp said the decision by an international consortium not to develop a new engine would have no impact on 1987 or 1988 earnings
channel ferry reported sinking off belgium
encor last year earned 354 mln dlrs
there is nothing apparent from the change said william oneill director of futures research at elders futures inc
it has criticised the cuts as too selective
new zealands current account deficit narrowed to 76 mln nz dlrs in april from a revised 89 mln dlrs in march and 224 mln dlrs in april 1986 in a smoothed seasonally adjusted measurement the statistics department said
during the takeeover attempt a unit of sugarmans giant group ltd at one point held a 99 pct stake in tre
without these currency fluctuations net profit would have been 307 mln guilders higher and revenue 197 billion higher natned said
de kock interviewed on state run television gave no breakdown of the reserves
the purchase terms were not disclosed the company said
the bp official also said the 70 dlr bid is a 40 pct premium over standards stock price over the past year
the fed spokesman said the banking system had excess reserves on thursday monday and tuesday and a deficit on friday and wedndsday
net is after tax 2209 mln dlrs vs 1860 mln interest 1160 mln vs 1392 mln depreciation 852 mln vs 706 mln and minorities 267000 vs 346000 but before net extraordinary profit 8932 rpt 8932 mln dlrs vs nil
indonesias coffee output in 1986 87 ending september 30 is expected to stagnate or fall slightly from last years level of 360000 tonnes he said
trump said he is also considering a tender offer for remaining class b shares at the same price but has no interest in resorts class a shares
in a filing with the securities and exchange commission warner communications investors said it paid about one mln dlrs to berkey on september 23 to acquire 104167 shares of berkey series b convertible preferred stock
the sec is also considering expanding futures trading of additional countries government securities to be marketed and traded in the united states the officials said
bremer landesbank issues australian dollar bond
the federal reserve board has approved the application of chase manhattan corp to engage in underwriting and dealing in commercial paper of chase commercial corp the lending subsidiary of the parent bank holding company
opec believes world oil prices should be set around a fixed average price of 18 dlrs a barrel oapec assistant general secretary abdelaziz al wattari said today
february volume at the chicago board of trade cbt declined 14 pct from the year ago month to 8191266 contracts the exchange said
that is not a seasonal thing it is secular he said
british petroleum co plc said it has started its previously announced 74 billion dlr offer to purchase the 45 pct interest in standard oil co that it does not already own for 70 dlrs per share
bayou international ltd said it acquired 199 pct of amalgamated equities ltd of australia for 710000 dlrs
international cocoa organizations icco council chairman denis bra kanon continued work towards a compromise plan on how the icco buffer stock should buy cocoa consumer delegates said
in caracas there have recently been calls to invoke the agreements contingency clause which the government used last year to amend the original terms after a 40 pct drop in oil income
analysts speculated there will be more such matches
ntpcs second bond issue at the end of 1986 raised 451 billion rupees against 12 billion originally permitted by the finance ministry
it also alleges there would be anti trust violations if samjens formed by asher edelman and dominion textiles inc of canada were to succeed
interest margins were too small particularly when compared with other west european countries
the leaders of two of japans top business groups said in separate statements the group of seven g 7 accord reached in washington yesterday is of deep concern to japan because it shows the major industrial nations regard the yens current level as appropriate
peerless said due to the sale it will probably have a loss for the year
csce puts additional margin on july coffee
saudi arabias renegotiation of its collective agreement with aramco to purchase oil for the latters ex partners is moving along and should lead to a fundamental structural change in the contract oil industry sources said
the centre repeated its previous forecast that growth in swiss domestic product would slow to 22 pct in 1987 from 25 pct in 1986
may had an overall sales gain of 150 pct and k mart had a 131 pct sales gain last month
the bill will be wrapped into other trade legislation and voted on in the house in april
commerce minister suleiman abdulaziz al salim told saudi businessmen this week the government had carefully considered the need to stimulate the economy when drawing up its budget plans late last year
home savings and loan association inc of durham nc said its board declared a 20 pct stock dividend payable april 28 to holders of record april three
the national broadcasting co delivered its final offer for a new contract to representatives of 2800 writers editors and technicians early today and waited for a response
developer donald trump has agreed to pay 101 mln dlrs for all of resorts internationals class b shares representing 93 pct voting control s and p noted
first interstate bancorp said it has filed a shelf registration with the securities and exchange commission for up to 150 billion dlrs principal amount of its debt securities
genetics genio sees higher 87 losses
at exxons direction morgan guaranty trust co stands ready to validate any notes in order to establish their authenticity exxon said
until the end of last week the central was holding out staunchly against market pressures for lower rates in an apparent effort to preserve the expected rate cuts for around the time of the governments annual budget on march 17
bills are pending in congress to move up the final feedgrain deficiency payment to as soon as five months after harvest as possible rather than the current year lag time
gaviria submitted to the world bank and the inter american bank last week in new york a borrowing plan for a total of 3054 billion dlrs to be disbursed over the next four years which he said was approved
john labatt to issue 125 mln dlrs of debentures
campeau corp said its allied stores corp entered into a definitive agreement to sell its garfinckels division to raleigh stories corp for 95 mln dlrs
vebas raab karcher raises 1986 operating profit
the joint venture to be 51 pct owned by raision tehtaat and 49 pct by polysar will build a plant at anjalankoski east of helsinki to produce carboxylated styrene butadiene latex
the deal does not include the decoration or fitting out of the interior of the hotel
agriculture ministry sources said the producer rice price paid to rice farmers would be cut after discussions by the rice price council an advisory body to the ministry on july 1 and 2
but members have jealously guarded their sovereignty in economic and monetary matters
sri lanka plans to renew abu dhabi oil contract
bank deposits of five years or more carrying 11 pct interest have been abolished
the key arguments being faced by the icco working group on buffer stock rules which is meeting today and tomorrow will be over non member cocoa and differentials the buffer stock should pay when trading different types of cocoa
british petroleum co plc may have to raise its planned 70 dlrs a share tender offer for the publicly traded shares of standard oil co srd analysts said
standard and poors corp said it affirmed the bb plus rating on afg industries incs 185 mln dlrs of subordinated debt
he said about 1000 employees of anglo american corps new vaal colliery also downed tools but the reason for the stoppage was not immediately clear
murray ohio myo sees higher 1st qtr earnings
the conference which began monday is seen as the last effort to adopt an accord to replace the current one which expires in october
us government expands crackdown on bad debts
the lifting of the ban imposed earlier this year follows government concern over lower than average rainfall in southern ghana and its implications for the major harvest botchwey said rain has been lacking in major cereal growing areas throughout the south this year
the analysts said that these efforts will be most successful in the industrial sectors of the economy with large and growing energy requirements
canada prices 12 billion dlr bond issue
that would reflect the continuation of dismal industry conditions and the companys substantially weaker credit profile s and p explained
david rockefeller chairman of the international advisory committee of chase manhattan bank na said an accommodation would be found between brazil and its commercial bank creditors to solve the problem of the nations recent interest payment halt
first control of credit in britain rested on interest rates alone due to the freedom of its financial markets
prior year net includes gain 1549000 dlrs on sale of property
shr 46 cts vs 58 cts net 290 mln vs 379 mln revs 2512 mln vs 2542 mln avg shrs 579 mln vs 560 mln 12 mths shr 136 dlrs vs 237 dlrs net 937 mln vs 1523 mln revs 9819 mln vs 103 billion avg shrs 572 mln vs 553 mln note 1987 12 mth net includes 437 mln dlr charge due to december 1986 provision for coal mining operations refund
the institute said this in turn was bound to lead eventually to a rise in worldwide inflation and a shift in us policy towards a more restrictive policy
south africa is expected to unveil tomorrow an expansionary budget for the second consecutive year in a bid to boost the nations flagging economic growth rate economic analysts said
while the world bank has a role to play in helping brazil it can27ot replace the imf as an overseer of the economy conable said
i was sent to deliver a clear message to the japanese government and i delivered it very clearly and it has been clearly understood howard said that under the financial services act the govenment had considerable flexibility in taking sanctions against japanese companies and finance houses operating in britain
noting that ferruzzi was studying a public offering of shares in its unit european sugar france to fund the cpc takeover callebaut said amylum may still succeed in its bid
the house armed services committee has voted for a transfer in the management of stockpiled materials for national defense to the us defense secretary
these certificates will provide ample free supplies of corn and wheat for the remainder of the crop year the department said in a summary of its agricultural outlook report
shr loss 160 dlrs vs loss 45 cts net loss 9883000 vs loss 2744000 revs 1309000 vs 3289000 nine mths shr loss 229 dlrs vs loss 98 cts net loss 141 mln vs loss 6008000 revs 4577000 vs 119 mln note current periods include loss of 75 mln dlrs from discontinued operations
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
the loan may be drawn down until april 1988 but only if mexico experiences a shortfall in public sector external receipts and provided that mexico first qualifies for drawings under a 600 mln sdr oil contigency facility from the international monetary fund
agl said it will make the same offer for tmocs convertible notes
csr says it is proceeding with offer for monier
the debentures are convertible into the companys common stock at 20 50 dlrs a share representing a 2519 pct premium over the stock price when terms on the debt were set
minnesota power mpl debt downgraded by moodys
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
however it decided to leave consideration of the release of further wheat until later
we are proposing legislation that would provide for more disclosure would be fairer to all shareholders and would insure that takeovers are properly financed he said
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 280000 to 300000 head versus 294000 week ago and 303000 a year ago
and conn
continued state subsidies would not save them but would only prolong their lives artifically for a few years he said
it said it will add 4400 subsribers to its 568000 subscriber base
rothschild is sole agent for this transaction
boliden ab blds st mining and metals group said it will announce a major foreign corporate takeover today involving a company with an annual turnover of two billion crowns
during production tests about 5000 barrels of oil and five mln cubic feet of gas per day were produced it said
vice minister of foreign trade bernardo chamorro said that participating in the meeting will be the heads of the coffee associations from the four countries
the facility allows for eurodollar and swingline advances up to 50 mln dlrs and also has an uncommitted option for short term multi currency advances
edac technologies corp edaco 3rd qtr net
the seasonally adjusted but non smoothed deficit on invisibles was 240 mln dlrs against 229 mln dlrs in march and 245 mln dlrs in april 1986
austria is making a two billion schilling issue of floating rate treasury notes carrying interest of 1 8th of a point over the three month vienna interbank offered rate vibor lead manager oesterreichische laenderbank ag olbvvi said
orion capital corp said it acquired 163000 shares of twin disc inc common stock or 52 pct of the companys common stock outstanding
the plant which has an asking price of 187 mln dlrs plus several mln more dlrs for inventory it said
noma industries ltd year net
refiners were not significant purchasers of physical oil on monday as a result increased gulf tension following the us attack analysts said
the offer had been scheduled to expire may 15
american dynamics corp and meridian reserve inc said they signed a definitive agreement under which meridian will buy 819 mln shares or 51 pct of american dynamics common stock
some analysts predicted minimal earnings impact on canadian banks from a move to declare the brazilian loans non performing
instead of liberalising outflows the government has restricted inflows said kate newman an economist with vickers da costa
sheikh abdul aziz said government revenue would be about 6745 billion riyals down by about 30 pct on the 1985 86 projected revenue of 97 billion
biomet inc bmet 3rd qtr feb 28 net
prior quarter net includes 1000 dlr tax credit
noranda buys shares of sanivan group
that is why banking analysts have said citicorp cci felt emboldened to state early in the day that it might put brazil on a cash basis even before interest becomes 90 days overdue
total capacity is 181900 bpd
but the yens strength which has also raised the costs of japans exports and allowed its asian neighbours to move into its traditional markets has frozen japanese corporate growth the specialists said
bethlehem steel corp said it was disappointed by the downgrading of its debentures by standard and poors investment service
echlin could receive a one time payment at its option in cash or stock ranging from up to one dlrs a share in 1989 to four dlrs a share in 1992 to 1994 to the extent the market price of champion shares is less than nine dlrs a share at those times
personnel expenditure was up 119 pct last year at more than 15 billion marks
it said lyle has sales of about four mln gallons annually and serves about 4000 customers in seven counties in southwest georgia and north florida
land around the nuclear plant was contaminated to varying degrees
some analysts have said the size of offer was too big for the market to handle efficiently
advanced genetic sciences agsi year loss
a year before it lost 217852 dlrs on sales of 469274 dlrs
the sale will not affect the services the bank will continue providing to institutional customers through its employee benefit trust services division bankamerica also said
we are not politically motivated funding was just becoming too expensive and we dont need all that money he told adding the department had suspended issues at least twice in the past when offered interest rates were above or below market rates
usda estimates ussr cotton crop
he said the economy would have suffered more from the world economic recession if the government had not devalued the rupiah by 31 pct last september
kongsberg draftings annual worldwide sales are about 15 mln dlrs clark copy said
rada electronic industries radif nine mths net
mobils murray said in his remarks to shareholders that the company was continuing to dispose of assets which did not fit the companys long range plans and had realized some 11 billion dlrs from the sale of its container corp subsidiary
hertz realty corp is issuing a 75 mln canadian dlr bond due april 30 1993 paying nine pct and priced at 100 3 4 pct syndicate sources said
state owned air canada said it will make a statement at 1100 est concerning a published report that the airline has agreed to acquire gelco corps canadian unit gelco express ltd an air canada spokesman said
borden inc said it called for redemption on may one its outstanding 605000 dlrs of 4 3 8 pct sinking fund debentures due 1991
if the banks didnt receive anything for the rest of the fiscal year the impact could range from 16 cts to 70 cts a share
the american stock exchange said it would provide further details later
the programmes part of 13 billion dlr supplemental budget request by the reagan administration to restore funds cut earlier by congress must be approved by congress
this compares with the santos stake of 31 pct when it announced its bid in march 23
for the year ended december 31 1985 healthcare reported net income of 35 mln dlrs on sales of 544 mln dlrs
next week ohio river owensboro south 125 pct bid 132 1 2 offered up 7 1 2 points
the corn crop is expected to be a record and will create serious storage problems the report said
secondary trading will occur april 15
german capital market liberalization stalls
it had fallen four pct against the canadian dollar
cras share of earnings from the argyle diamond project amounted to 120 mln dlrs against nine mln in 1985
conference sources said it is highly unlikely that producers will accept a pact that will provide for any possible downward adjustment of the floor price as proposed by consumers under certain circumstances
on february 22 italy boycotted a meeting in paris of its g 7 partners the united states japan west germany france britain and canada after being excluded from an earlier session of talks involving g 5 members
uk one billion stg bond issue exhausted
with troops in place in brazils ports and oil installations the government of prersident jose sarney today sought to end a wave of labour unrest by a show of force
this was above market expectations for a 100 mln dlrs rise
after the plan was presented working group delegates met briefly in smaller groups of producers ec consumers and all consumers to look at the proposal
indonesias non oil and gas exports fell to 579 billion dlrs in calendar 1986 from 598 billion in 1985 according to bank indonesia figures
kirschner medical corp said it completed the acquisition of minnesota mining and manufacturings mmm orthopedic metal implant line division
schlumbergers management shift asset restructuring including a pending merger of fairchild semiconductor and its considerable cash horde sets the stage for the company to maximize its significant industry advantage and capitalize on the project upturn in exploration and development activity according to a report by george gaspar first vice president at robert w
piedmont now has about 186 mln shares outstanding
exxon corp the worlds largest oil company said in a published interview today that it was reviewing its worldwide refinery operations and might decide to close on of its french refineries
hj heinz co said net income for the third quarter rose 182 pct despite an 172 pct increase in marketing expenses
while us bankers obviously see things differently some have started to wonder whether the advisory committee is still the right tool for the job
holder proposes unitel unv sale or liquidation
trump who was unavailable for comment is believed by market sources to have a sizeable position in ual which he began accumulating several weeks ago
the issue was raised from an initial offering of 140 mln dlrs
the world bank would raise 90 pct of the funds needed over the next year with methods used before rotberg said
cabrera said a 50 mln dlr floating rate note frn issue by colombia is expected to close next month
it attributed its reduced 1986 earnings to communications group losses resulting from continued heavy investment in new products and market development a four month strike at its toronto plants and delays in receipt of authorization from customers to start work on new programs
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
that has a lot of potential as well as risks for us business yeutter said
ncrs 1986 full year earnings rose to 3365 mln dlrs from 3152 mln dlrs in the prior year
vietnams army ordered to grow more food
us mint seeking offers on copper nickel
argentina could suspend payments on its foreign debt if creditor banks reject a 215 billion dlr loan request to meet 1987 growth targets ruling radical party deputy raul baglini told a local radio station
basf will start non woven fibre production in the us in 1988 enka said
it has a major investment in an mtbe plant in saudi arabia
wtc international waf sets south africa trust
he noted the strong growth in bank loans in november through january and the firm federal funds rate that had prevailed despite the extraordinary pace of reserve growth
we dont make changes lightly and we dont make changes often he said
seasonally adjusted export and import figures were not available
sao paulo state presidenze prudente 10 mm votuporanga 260 mm franca nil catanduva 01 mm sao carlos nil sao simao nil
the paper said unreasonable pricing resulted in 144 of the 442 sugar mills working in the 1985 86 crushing season losing money
since they are the hosts we feel its up to them if they want to say something one regional bank official said
the warrants will be listed in luxembourg and pay date is march 31
he said the long term answer is to switch some of the financial resources now committed to agriculture to other more productive areas
the department said the barley is for delivery april 15 may 15 and the bonus awarded was 4124 dlrs per ton
wall and redekop corp wrkto three mths net
oil use in the 24 countries of the oecd increased by around one pct in first quarter 1987 to 359 mln bpd the iea said in its monthly oil market report
the last time the adjusted total of unemployed was below three mln was july 1984 while the unadjusted total was last below this level in june 1983
they noted lawson had already got an inflation reducing cut in mortgage rates in response to lower base rates so domestic political reasons for lower rates have been curtailed
allegheny said the agreement calls for holders of its common to receive 2460 dlrs a share
ussr heavy buyers of yugoslav corn us report
the nics exports are almost all manufactured goods
he said the measures will help strengthen japans domestic demand significantly quite possibly exceeding one pct of gnp
senior us officials have accused tokyo of failing to live up to the accord and have threatened retaliatory action
tender loving care health care services inc said it and staff buildiers inc have extended the term of their merger agreement until may 31
from what brazil has said it is quite likely the banks will get the money said meredith
the spread is 50 basis points
stepan co scl 3rd qtr net
computer consoles inc ccs 3rd qtr net
if they come out as aggressive sellers the market would collapse and they cant afford to do that she added
petrobras cancelled a 40 mln dlr crude oil purchase from the saudis yesterday after they refused to accept a letter of credit from the bank of brazil demanding guarantees from leading international banks
businessmen are deeply concerned about the effect on industry of import restrictions introduced earlier this year because of the countrys deteriorating trade balance
takeover speculation buoyed wendys international incs stock even after coca cola co took the fizz out of market rumors by denying it was an interested suitor
overnight interbank sterling traded at the 11 1 4 1 8 pct level for most of the morning while period rates have eased on the strength of sterling dealers said
nz plans eight 250 mln dlr 1987 88 bond tenders
cumulative net pack for the season was 86254846 versus 82355864 a year ago
duro test corp dur 2nd qtr jan 31 net
the feasibility study anticipated gold production of 49600 ounces a year at a cost of 129 canadian dlrs a short ton they said
normally wheat harvesting is well underwaty in central india and just beginnning to the north ending in most areas by late april
this reflected expanded factory financed rebates and discount loan programs the department said
cathay is expected to pay a 13 cent final dividend making a total of 19 cents for the year as forecast in the prospectus analysts polled by said
arrears to the imf and the world bank are projected to rise to 100 mln dlrs by the end of 1987
the new arrangement provides for borrowings of up to 10 mln dlrs at the banks prime rate and replaces a secured credit line which expired in february sierracin also said
analysts have speculated gencorp could fetch at least 110 to 120 dlrs per share if broken up
bayer usa inc said sales of its affiliated operating cmpanies based in the us increased in 1986 by 44 pct from the previous year
the helicopters will be manufactured in american aircrafts uvalde texas plant it added
it also helped the dollar rally sharply to a high of 18200 marks from a european low of 17880
standard and poors inc said it withdrew the ratings on lear siegler incs a rated senior debt and preferred stock a minus subordinated debt and a 1 commercial paper
sony foresees continued slump in earnings
an investor group controlled by new york investor david rocker told the securities and exchange commission it has acquired 291400 shares of circle express inc or 61 pct of the total outstanding common stock
us commerces ortner says yen undervalued
the maximum export rebate for barley was set at 13725 ecus and for maize at 12975 ecus per tonne
fewer shrs outstanding
this takes the banks total help so far today to 582 mln stg and compares with its forecast of a 750 mln stg shortage in the system today
shamrock capital is a limited partnership led by shamrock holdings inc the roy e
there is a 1 1 2 pct selling concession and a one pct combined management and underwriting fee
swedens rate of inflation during january has been revised downwards after a fault was made in calculating the figures the central bureau of statistics said
heritage communications hci in special meeting
funaro said last night brazil wants a rescheduling program spread over four years and added that it had to include new loans to keep the domestic economy growing
the spokesman said the refinery had been operating at about half its capacity since end january due to overhaul work on part of the complex
aart de zeeuw chairman of the general agreement on tariffs and trades negotiating group on agriculture met this morning with members of the house agriculture committee
six workers were killed and four injured in an undeground rock fall at south africas second largest gold mine today the mine owners said
dresser industries will also benefit from the recovery but possibly not as much as other companies because it is not a pure service company sweeney said
mitsubishi said the loan was believed to be the first the borrower has raised in yen
gts corp gtsc 4th qtr dec 31 loss
it owns code a phone corp a producer of telephone answering machines
the 50 day provisional 1987 88 budget adopted today by the government allows the finance ministry to issue up to 14600 billion yen worth of foreign exchange fund financing bills government sources said
usda comments on export sales report
intl finance corp in 50 mln dlr private placement
bush industries inc said it expects higher earnings and sales for 1987 partly due to efficiencies in manufacturing that have improved its margins
in testimony before the senate committee on governmental affairs baker conceded that the effect thus far has not yet proved as quick or as strong as had been expected from past experience he told the committee however that the initial signs are encouraging
avia stockholders seek to block sale to reebok
despite this debtor countries continue to accept the case by case approach and cubas call for a joint negotiating front is not being promoted by brazil or even defended by peru the regions flag bearer in unilateral payment decisions
the company also said its richmond hill gold and silver deposit in the carbonate district of western south dakota has been shown by drilling to contain about 3900000 tons grading 0055 troy ounce of gold and 023 troy ounce of silver per ton
world bank approves 100 mln dlr loan for brazil
ual last month said new york real estate developer donald trump held a position in its stock and that he also held discussions with its chairman
analyst lawrence cohn of merrill lynch and co said it is unlikely the situation will be resolved until the second half of this year
the entire seaway is already free of ice due to the mild winter and could be open for navigation today but there doesnt seem to be enough demand from shipping companies to warrant an early opening the canadian official said
monetary sources have said a fully blown meeting of the group of seven is expected to begin around 3 pm local time 1900 gmt and last at least until 6 pm 2200 gmt when a communique is expected to be issued
berry a privately owned company which already owns 806 pct of norris oils stock said the agreement calls for norris public shareholders to receive 00333 berry common shares for each norris share held
they added that if member countries were unable to fulfil their quotas their extra tonnage would be reallocated to other members at the atpcs discretion
usda changes low protein wheat terminal prices
the financial sources said interest payments to the firm would not be taxed because of its location
standard and poors corp has been in the business for more than a century while moodys investors service inc was founded more than 80 years ago
japanese agencies were shocked by the earlier aaa ratings on the claims paying ability of sumitomo life insurance co and dai ichi mutual life insurance co by standard and poors the first ratings given to japanese life insurers
french prime minister jacques chirac told us congressmen france would announce a decision in two to three weeks on which group is to control its second largest communications firm compagnie generale de construction telphoniques french sources said
the health club chain the nations largest is valued at 350 to 375 mln dlrs they said
the dollar will be pushed down until there is coordinated central bank intervention one dealer for a german bank said echoing widepread sentiment in the market
inco the non communist worlds largest nickel producer was a member of the index since 1928
however the quick pace of foreign investment has heated up competition among european firms well heeled us institutional investors and major oil companies to snare choice domestic oil properties
the final outcome for the fiscal year will be determined by the timing and proceeds from the sale it added
chinas application could be considered a test case he said
turner broadcasting system inc said the investment by the cable consortium would be in turner broadcasting not directly in cnn
moodys investors services inc said it downgraded about 82 billion dlrs of debt of texaco inc and its units
he said the accord had brought britain into a form of joint currency float but one which let it still purse an independent monetary policy
grolier has also reduced its exposure to developing countries moodys noted
the us benchmark crude west texas intermediate is trading around 2055 dlrs in the july contract on new york mercantile exchanges energy futures and in the spot market
of the 9500 billion lire of six month paper offered operators requested and were assigned 7098 billion lire at a net annualised compound rate of 924 pct down from 930 pct previously
fees total 1 1 2 pct with a half point for management and underwriting and one point for selling
shr 18 cts net 1948000 revs 3397000 note company began operating on february 20 1987
np energy corp said the us bankruptcy court has indicated it will appoint a trustee to oversee the companys chapter 11 bankruptcy proceedings
sosnoff said painewebber group inc pwj has now delivered to him commitments to purchase up to 475 mln dlrs of increasing dividend cumulative exchangeable preferred stock of mts holding corp an indirect parent corporation of mts acquisition
under the merger agreement remaining shareholders of hayes a jackson mich based maker of auto supplies will receive 13 dlrs cash for their shares
us officials believe that would help take some of the pressure off the united states whose five years of economic growth has been the mainstay of developing countries
fees total two pct and are divided 1 3 8 pct for selling and 5 8 pct for management and underwriting combined
taking the midpoint of 180 mln tonnes as the target and the 1986 87 estimated production of around 151 mln tonnes the gap of 29 mln tonnes has to be made up during the remaining three years of the plan by increasing grain output annually by more than nine mln tonnes
last year the west african nation announced that the coffee producer price would stay at 200 cfa francs 65 cents per kilo
the amount of these credit lines totals 15 billion dollars and deadline for payment is set for march 31
moodys rates the bonds aa 1 and s and p rates them aa plus
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
rent a center inc is raising 35 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 3 4 pct coupon and par pricing said sole manager morgan stanley and co inc
erc international said it will file in the first quarter for a public offering of 25 mln dlrs principal amount convertible subordinated debentures due 2012
idec izumi corp is issuing a 35 mln dlr eurobond with equity warrants due april 23 1992 with an indicated coupon of 2 3 8 pct and priced at par lead manager daiwa europe ltd said
banking sources here said only an escalation of south african political unrest would increase foreign pressure on repayments
the banking information service said the adjusted rise of 16 billion stg was well above the recent monthly average of about 10 billion stg
contrans corp cssto 4th qtr august 31 net
it was really an enormous drop a reduction in rates and that to me is the critical element he told 
it was called to review developments since the last ministerial meeting in february 1986 and to think up new ideas
newman has electric motor operations in the uk and australia
bridgestone corp britt year to december 31
the study noted that the effects of last years lower prices were having a dampening effect on total supply which was now back down to around levels of a decade ago
mondanto co said it has paid off two thirds of the debt from its 28 billion dlr acquisition of gd searle and co by the end of 1986
midmississippi river opens today for season
behind bakers remark was us frustration over higher interest rates abroad especially in west germany but this does not represent its readiness to scrap the basic framework of the louvre accord the finance ministry official said
reports the soviet union has lately extended its recent buying programme by taking five to eight raws cargoes from the free market at around 30 40 points under new york may futures highlight recent worldwide demand for sugar for a variety of destinations traders said
cardenas said lows registered immediately after the failure of the london talks were triggered by a widespread fear among dealers of an imminent price war and the belief that producers would go out and sell their coffee as quickly as possible which did not happen
for the nine months ended march 31 1987 argosystems reported earnings more than doubled to 63 mln dlrs or 95 cts a share from 31 mln dlrs or 46 cts
since then negotiators have worked on the finer details of the new pact
on a comparable store basis the increase was 32 pct
reports of short argentine supplies and the apparent unwillingness of the chinese to sell at current world prices may have caused japanese buyers to turn to the united states for corn supplies the department said
the foreign banking market in xiamen is thin and almost saturated he added
virazole is approved for marketing in the us in aerosol form as a treatment for an infection that strikes infants called respiratory syncytial virus
the nymex meanwhile has a counterclaim pending against apex oil seeking an unspecified amount of attorneys fees and 15 mln dlrs in punitive damages according to a nymex spokeswoman
the elevator operated by archer daniels midland co
houston metals said gold silver and the base metals have recoveries of 90 pct to 95 pct with 95 pct of gold recovered from better gold ores while gallium germanium and indium have recoveries of between 66 pct to 82 pct and are included in the zinc concentrate
amstutz sees more bullish wheat outlook in 1987
shr 21 cts vs 10 cts net 10798000 vs 4704000 revs 474 mln vs 329 mln year shr 58 cts vs 54 cts net 291 mln vs 258 mln revs 1877 mln vs 1347 mln note 1986 net includes 28 mln dlr extraordinary gain in 4th qtr and 65 mln dlr fl yr extraordinary loss involving provision for decline in market value of marketable securities partly offset by gain from sale of stake in dome petroleum ltd dmp
horizon bank hrzb sets stock split
us one year bill yields rate of 592 pct
a uk treasury official said that it was important to look at all the monetary information not just the bank lending adding that monetary aggregates were growing much more slowly than bank lending
we hope to obtain a tacit explicit acceptance from foreign banks that we are not able to service the debt central bank president carlos julio emanuel said
brooklyn union said the long term contract will cover about 15 pct of its total supplies
the 1987 target is 405 mln
lukman gave no specific figures for february output
vanderbilt vago to raise common merge
some arbitragers however believe the depressed price of piedmont offers a buying opportunity since the airline is destined to be acquired by someone
17
this reflected the reclassification of brazilian loans a reduced federal income tax rate which affected the calculation of the taxabale equivalent adjustment on tax exempt assets and a narrowing of the spread between the prime rate and chemicals cost of funds
in the first quarter the bank reported earnings per share of 151 dlr compared to 162 dlr in the same period last year
the other power project supported by a 375 mln dlr loan plans to aid in the first phase of a power generation complex in eastern india the bank said
the statement said the ibc is sending a document to the national monetary council asking the government to set a budget for the purchase by the institute of up to five mln bags of coffee until june 30
headquartered in keene nh mpb designs and makes precision ball and roller bearings used in aerospace ordnance and computer applications
group lifts stake in smith international sii 
caltex raises singapore oil product prices
the company also said its board determined the previously postponed annual meeting will be held on january five
wtc shareholders approve pittston pco buyout
the merger which may be finalized as early as may 1 will lower texas commerces cost of funding by an estimated 10 to 15 basis points love said
galaxy gtv to sell west texas assets
the substantial correction of the exchange rate that has occurred since early 1985 is enormously welcome and should produce a sizeable reduction in the us trade deficit this year and next but the imbalance will not fall much below 100 billion dlrs on present policies so much more is needed he said
there has been speculation that chancellor helmut kohl would try to replace poehl with a man closer to his own christian democrats
the british government may revoke the licences of selected japanese banks and securities companies operating in londons financial city when they come up for renewal next summer if progress is not made towards opening up japans markets to foreign competition government sources said
the government had to aim for more competition it said
we suspect that one or more of the 20 are leveraged buyout firms said a source close to dart
m 1 has hit an air pocket of weakness said bill sullivan of dean witter reynolds inc
moodys may cut ecolab ecl up chemlawn chem 
construction of the 400 room hotel will start after the loan is signed
delegates and industry representatives predicted coffee prices could plummet more than 100 stg a tonne to new four year lows tomorrow in response to the results of the meeting
it said it will also receive from cardis five year options to buy 2400000 cardis common shares at 625 to seven dlrs each depending on the time of exercise and warrants to purchase about 3200000 shares at 660 to 760 dlrs each
that sounds like a reasonable strategy
burmah oil 1986 pre tax profit 1059 mln stg vs 796 mln
trump and interstate which presently own about 40 pct of alexanders common stock said they intend to keep the company as a retailer if they succed in their acquisition
the new agreement also maintains the basic structure of price ranges the may sell and may buy points at plus and minus 15 pct of the reference price as well as the must sell and must buy zones at plus and minus 20 pct of it
husky hyo sets meeting to approve merger
correction non communist february aluminium in todays london item non communist february aluminium output up ipai please read in first paragraph and throughout daily average primary aluminium production correcting from average unwrought aluminium production
us dlrs 598 billion vs 447 billion other foreign currencies 371 mln vs 3199 mln gold 8740 mln vs 8641 mln special drawing rights 1918 mln vs 1886 mln imf reserves 6897 mln vs 7057 mln
1 1986 operating net income per share would have been 85 cts a share for 1986
morgan olmstead kennedy mokg names pres
the partnership said the offer is further conditioned on gencorp management withdrawing its proposals to amend the companys articles of incorporation and code of regulations to provide for an increase in authorized common shares a classified board of directors and the elimination of cumulative voting
ibm ibm has higher shipments costs in qtr
when loral announced the transaction january 12 the company said it was paying 640 mln dlrs for goodyear aerospace
de clercq talking to journalists during the meeting said there is a certain nervousness a growing impatience within the community concerning trade relations with japan but diplomats said the ec is keen to negotiate with tokyo to solve the problem rather than embark on a costly and damaging trade war and the ministers called for more cooperation with japan in industry and research
japanese banks confirm argentina loan commitment
a total of six of 10 indicators available for january contributed to the decline
spendthrift farm inc said it will miss the 1875000 dlr march 16 interest payment on its 30 mln dlrs of 125 pct senior subordinated notes due 1994
senator wants stronger air merger regulation
details of the latest initiative including an invitation for offers from exporters will be issued in the near future the department said
we believe an overweighting in stocks is warranted because of the positive momentum of corporate earnings said christine lisec tinto merrill senior investment strategist
other banking companies announcing prime rate rises included pittsburgh national bank texas commerce bank houston provident national bank first national bank of boston florida federal savings and loan association and suntrust banks
west german gnp growth in 1987 will be led by renewed advances in domestic consumption and investment spending both of which will in turn be buoyed by an expansionary monetary policy the institute said
interstate bakeries ibc buys mexican food firm
affiliated publications inc afp sets payout
the company makes artificial hearts
vishay intertechnology inc said its board declared a two pct stock dividend payable april 10 to holders of record on march 26
trade experts say his tough action against the japanese was as much to penalize the japanese as to show congress he did not need any new trade legislation
the company said the sale will complete associateds withdrawal from the general contracting business
any way you slice it i see a significant premium to the current stock price he said
the minimum denomination of commercial paper offered and purchased would be 250000 dlrs
the bank of new york corp bk said it reaffirmed the terms of its offer for irving bank corp despite the drop in the bank of new yorks share price to 30 1 8 a bank of new york spokesman said
former herstatt dealer can be sued court rules
the regional carrier reported it flew 175 mln passenger revenue miles during the month up from 157 mln miles in february 1986
us navy said increasing presence near gulf
consumers say that in these circumstances the adjustment be automatic at five pct or more
leaks of a major dutch official economic forecast due to be published on monday indicate reduced economic growth and a renewed rise in unemployment this year political and market sources say
with less than a week remaining to enroll in the 1987 feedgrains program agriculture department officials said that final signup will probably exceed last years level of 85 pct
team a former signetics corp unit assembles integrated circuits in southeast asia and is itself buying an assembler
the three a warrants will give the right to subscribe to five bull shares at a price of 46 francs until november 30 1988 and the three b warrants the right to subscribe to five shares at a price of 52 francs until november 30 1989
todays new eurosterling bonds were a 10 year 100 mln stg deal for sweden at 9 1 2 pct and priced at 101 1 4 pct lead by baring brothers and co ltd and a 14 year 60 mln stg convertible deal for storehouse plc launched by sbci international ltd
the fall in raw material prices was not enough to compensate for the decline in turnover due to lower prices and currencies hoechst said
moodys said it affirmed easterns debt ratings amid expectations that recent improvements in the units operating measures would be maintained
its interesting that they chose something in international waters because it doesnt implicate any other nation one diplomat said
norways september oil output rose by 222 pct to 107 mln barrels per day bpd from 830492 bpd in august according to a survey of firms operating here
ice conditions are unchanged at the soviet baltic oil port of ventspils with continuous and compacted drift ice 15 to 30 cms thick the latest report of the finnish board of navigation said
acton atn to sell unit for gain
atico said in connection with the acquisition it will apply to become a registered bank holding company and convert its 99 npct owned atico savings bank subsidiary to a state chartered commercial bank
fed says it sets 15 billion dlrs of customer repurchase agreements
interest rates on conventional mortgages bottomed out at about 908 pct in march and rose to about 107 pct in april according to stephen roach economist at morgan stanley
the port of singapore authority psa will spend 12 billion dlrs to develop port facilities and cargo handling equipment over the next five years communications minister yeo ning hong told parliament
we must face the fact that greater flexibility in devising new money packages may in effect be essential to future bank syndications mulford said last week
indonesia unlikely to import philippines copra
inspiration said a production decision is expected to be made in 1988
istat said its consumer price index for the families of workers and employees base year 1985 equals 100 registered 1095 in march 1987 compared with 1091 in february this year and 1051 in march 1986
carolian systems sees lower fiscal 1987 profit
louvre accord still in effect japan official says
lewis horowitz president of the new york futures exchange said the new york stock exchange board yesterday approved in principle an agreement to relocate the futures exchange at the new york cotton exchange
chas
the company said the mandatory 30 day review by the us justice department was completed today
beet output last season of 155 mln tonnes yielded a higher than expected 172 mln tonnes of white sugar
the cray x mp 24 will replace a cray x mp 12 supercomputer in operation since 1985 it added
shr 36 cts vs 31 cts shr diluted 32 cts vs 30 cts net 26158000 vs 21798000 revs 105 billion vs 8442 mln nine mths shr 128 dlrs vs 122 dlrs shr diluted 115 dlrs vs 108 dlrs net 92779000 vs 77971000 revs 316 billion vs 270 billion avg shrs 724 mln vs 640 mln
norways 84 pct share of statfjord which extends into the british north sea sector was 611138 bpd against 552646 bpd in august operator den norske stats oljeselskap a s statoil said
bosphorus shipping moves istanbul offices close
fed officials do not comment on such intervention but dealers said it appeared that the fed had intervened when the dollar reached 14750 yen in new york
but he did not give any specifics on further repurchases beyond the 10 mln shares already announced
dealers said the bank of japan is intervening in the market through both banks and brokers this afternoon
dec 31 shr loss one ct net loss 176639 revs 150300 note company went public in april 1986
the groups other three divisions specialty steel capital goods and trading had made a profit so far in 1986 87 he added
m
the fda responded to the asa in a letter saying it would consider the petition as a comment to a proposed rule dealing with cholesterol and fatty acid labelling of foods
ecuador signed four loans from the interamerican development bank iadb totaling 280 mln dlrs the iadb said
carteret said the new bank has two offices outside baltimore which were acquired last june when carteret merged with admiral builders savings and loan association
in london yesterday a cable and wireless spokesman said the latest reported proposals are unacceptable
the feeling remains in the market however that fundamental factors have not really changed and that a rise in uk interest rates is not very likely
the ecuadorean central bank which is the institution remitting debt payments abroad uses the official rate of 95 sucres to the dollar for its accounting purposes
but it does oppose any foreign international telecommunications carrier having a management role he said
phillips petroleum p raises crude postings
hk telephone shareholders other than the cable and wireless group will receive warrants on a one for five basis entitling them to acquire from cable and wireless plc within five years one hk telecom share at 10 dlrs each
the french primary bond market is showing signs of renewed effervescence after several weeks of lethargy and the trend is expected to continue if hopes of imminent interest rate cuts are fulfilled market operators said
underlying sentiment for the dollar remains bearish due to a still sluggish us economic outlook the international debt crisis triggered by brazils unilateral suspension of interest payments on its foreign debts and the reduced clout of the reagan administration as a result of the iran contra arms scandal said a senior dealer at a leading trust bank
volume midmorning was 730 lots including 350 lots crossed and 108 switches
floating rate notes denominated in a foreign currency a relatively new wrinkle on wall street will probably be issued infrequently because the so called window of opportunity opens and closes quickly traders say
oil prices said now based on futures price
pakistan says its economy has continued its recent outstanding performance during the financial year 1986 87 ending on june 30 but areas like balance of payments investments and energy were causing concern
john porter r ill
volcker calls dollar slide enough
hutton said as of the end of the day yesterday about 880000 shares of purolator common stock repesenting 115 pct of outstanding shares had been validly tendered and not withdrawn
federal reserve weekly report 1 feb 26 two weeks ended feb 25 daily avgs mlns net free reserves 644 vs 1337 bank borrowings 680 vs 425 including seasonal loans 81 vs 56 including extended loans 299 vs 265 excess reserves 1025 vs 1497 required reserves adj 55250 vs 55366 required reserves na vs na total reserves na vs na non borrowed reserves na vs na monetary base na vs na two weeks ended feb 25 total vault cash na vs na inc cash equal to req res na vs na one week ended feb 25 daily avgs mlns bank borrowings 614 down 131 including seasonal loans 88 up 14 including extended loans 304 up 10 float 511 down 320 balances adjustments 2101 down 67 currency 206490 down 519 treasury deposits 4208 down 63
shr 11 cts vs 24 cts net 419000 vs 938000 revs 162 mln vs 169 mln year shr 25 cts vs 95 cts net 952000 vs 3001000 revs 646 mln vs 688 mln backlog 303 mln vs 319 mln note 1986 net includes nonrecurring gain 383000 dlrs in quarter and charge 175000 dlrs in year
strata said it owed 14 mln dlrs in overdue interest to its lender at the end of 1986 and the entire 109 mln dlr principle has been classified as a liability
tony loma co inc tlam 4th qtr
the icco daily and average prices on friday fell below the must buy level of 1600 sdrs a tonne designated in the pact which came into force at the last icco session in january but without rules for the operation of the buffer stock
he thinks the confrontation with brazil could end in a replay of a situation that occurred with argentina in 1984 and 1985
the criminal settlement includes the lifting of the governments suspension the dismissal of the federal civil false claims suit and all charges against the individuals
m 1 growth for calendar 1986 was 118 pct compared with 40 pct growth over the year ending in november
abu dhabi is the largest oil producer in the united arab emirates accounting for about 800000 bpd of its total 115 mln bpd production the sources said
computer memories inc said its board has decided to take additional time to evaluate the impact of litigation on the proposed acquisition of hemdale film corp computer memories said it plans to adjourn its annual shareholders meeting scheduled for october 23 after it is convened
coffee quotas were suspended in february last year when prices shot up on fears of a drought induced crop disaster in brazil
cocoa latest focus for commodity pact negotiators
theres a lot of leisure money out there
energy minister arturo hernandez grisanti said wednesday the cost would be 33 mln dlrs in cash plus an additional 60 mln in crude and refined oil shipments
the most prevailing scheme would be to pay a 477 loan with 77 cts worth of soybean specific certificates which would not have to be paid back and the remaining four dlrs in cash
oakwood homes oh to sell convertible debt
hungary raises prices in effort to curb deficit
the administration court is not expected to make a final ruling on the case in the near future
loynes said the provisions potential benefit would decline gradually over the next four years during which time continental will pay 250 mln to 350 mln dlrs more in taxes
1985 86 season at 915 vs 915 last month
mitek systems expects loss in current quarter
lawson wants sterling around 160 dlrs 290 mks
reagan would be able to block any takeover found to be damaging to us economic or national security interests
stocks of money center banks were mostly down fractions in late dealings
the buyout proposal which was previously announced will be structured as a one for 100000 reverse stock split
us corn market skewed by soviet buying
the outlook for french maize is better with 1986 87 exports to non ec countries now put at 700000 tonnes against 200000 tonnes at the end of january and against 155000 tonnes in 1985 86
in a filing with the securities and exchange commission robertson and his tiger jaguar puma and tiger management co entities said they bought 51600 capital wire common shares between feb 3 and 17 at 1325 dlrs a share
turning to contributions to its earnings cra said bougainville copper ltd buvas contributed 313 mln dlrs while its share of comalco ltds cmacs net was 378 mln
more than 60 people were injured in pitched battles between police and steel foundry workers in reinosa last month
central pennsylvania also said its directors recently approved a letter of intent to acquire hamilton reliance savings association of norristown pa
diamond shamrock raises crude oil posted prices 50 cts a bbl effective yesterday wti to 19 dlrs
there have been some difficulties in those negotiations banks have sometimes been too rigid johnson said in response to a question during an address before the eastern economic association an academic group
i wouldnt have anything against getting rid of the system the analyst said adding banks were capable of regulating the volume of new issues themselves
imperial chemical industries plc icil said it had today placed its 194 pct stake in lister and co plc with l messel and co and that it had now been placed widely among institutions
net foreign purchases of securities other than us treasury securities in the fourth quarter were 118 billion dlrs compared with 172 billion dlrs in the third quarter
us oil demand as measured by products supplied fell 26 pct in the four weeks ended april three to 1573 mln barrels per day bpd from 1616 mln in the same period a year ago the energy information administration eia said
iran says us naval forces attacked two platforms
uk domestic wheat markets dropped about one stg per tonne early this morning following overnight news that the ec is releasing a further 300000 tonnes of wheat from british intervention stores for the home market over a three month period
trade analysts say tokyo is likely to outline industry plans to step up purchases of us chips and to propose a joint investigation into us allegations of chip dumping
for the first nine months of 1986 all seemed to be on target for a repeat with monthly surpluses averaging one billion dlrs
for the year however the diversified holding company reported a net profit of 439 mln dlrs or 56 cts a share versus 464 mln dlrs or 56 cts a share in 1985
sterling money market rates moved lower again with the key three month interbank rate down to 9 5 8 1 2 pct at the start of business from 9 11 16 9 16 yesterday and sterling rallied to four year highs against the dollar in very active trading
they estimated development costs for the mine and mill would total 211 mln dlrs including three mln dlrs of working capital
eia says distillate stocks unchanged in week
imports to south east asia are seen rising to 586 mln from 326 mln tonnes in 1985
the belcher co of new york a subsidiary of coastal corp cgp said it will raise the posted prices for number six fuel in new york 25 cts to 175 dlrs a barrel depending on grades
the bank said m 2a totalled a provisional 583806 billion lire at end january against a downwards revised and still provisional 593827 billion in december 1986
coleman co said it expects a first quarter charge against earnings of 16 mln dlrs or 23 cts a share as a result of its voluntary program to replace condensing heat exchangers in its early model 90 series high efficiency residential gas furnaces
1985 4th qtr and year oper net excludes a loss of 412 mln dlrs or 251 dlrs per share and a loss of 363 mln dlrs or 221 dlrs per share respectively for discontinued operations
wilhelm christians said
shr loss 220 dlrs vs profit 24 cts net loss 758 mln vs profit 116 mln avg shrs primary 359 mln vs 365 mln avg shrs diluted 393 mln vs 399 mln nine mths shr primary loss 704 dlrs vs profit 169 dlrs shr diluted loss 704 dlrs vs profit 164 dlrs avg shrs primary 359 mln vs 372 mln avg shrs diluted 393 mln vs 466 mln net loss 2434 mln vs profit 722 mln assets 334 billion vs 341 billion loans 108 billion vs 120 billion deposits 169 billion vs 170 billion note net includes fslic sepcial assessment loss of 5429000 vs 5193000 in qtr 1987 vs 1986 and 163 mln vs 160 mln in nine mths 1987 vs 1986
petrobras has been saudi arabias traditional client since 1955
fiscal 1987 year net excludes 4081000 dlr charge from early debt retirement
french ministerial meeting held on cgct sale
malaysia raised output this month to current levels from 420000 bpd after reviewing the world oil market
payment date is march 30
time tl begins debt tender files shelf
banking sources said no bank seemed ready to lower rates alone and supporters of a cut would have difficulty overcoming opposition from creditanstalt austrias biggest bank
the department said stocks of fresh apples in cold storage at the beginning of february were moderately larger than a year earlier but strong demand has kept apple prices firm
however chris tinker uk analyst at brokers phillips and drew said the faster rise in exports than imports would prove partly aberrational in coming months
a far better answer than protectionism would be structural change within the japanese economy the kind suggested by the maekawa report
cityquest has a fully paid share capital of one mln stg
suralco alumina exports dropped 75 pct in feb
turkey expects a 1986 balance of payments deficit of 15 billion dlrs well over target but is taking steps to improve its performance in this and other fields ali tigrel director of economic planning at the state planning organisation said
dealers noted that this was the first time bills in band four which have a maturity of between two and three months have been dealt in the market since mid february
while nynex would have prefered the unqualified lifting of all of the modified final judgement restrictions we intend to urge judge harold greene to act as quickly as possible to approve the recommendations staley told a news conference
shr 31 cts vs 36 cts net 1156000 vs 1358000 revs 312 mln vs 286 mln nine mths shr 110 dlrs vs 120 dlrs net 4064000 vs 4525000 revs 913 mln vs 864 mln note 1987 3rd qtr includes a charge of 700000 dlrs or 19 cts a share for relocation costs for phase out some operations
statistics canada also reported the countrys trade performance deteriorated sharply last year as the deficit in the current account rose to a record 88 billion canadian dlrs from the previous years shortfall of 584 mln dlrs
in washington white house officials said president reagan was ready to impose retaliatory trade action against japan for breaking its semiconductor agreement with the united states
outokumpus turnover in 1986 was 758 billion markka
the dollars fall below 150 yen which follows last months paris currency stabilisation agreement by the us japan west germany britain france and canada is a dramatic reversal of the success of the group of five g 5 1985 new york plaza meeting to weaken the dollar they said
bangladesh to buy 10000 tonnes soyabean oil
doe secretary favors higher spr fill rate
national westminster bank plc 1st qtr net
swires trading and manufacturing operations are expected to earn 300 mln dlrs up 22 pct from 1985 but its shipping and offshore services are likely to post a small loss of about 10 mln dlrs because of depressed market conditions
quantum corp qntmo 2nd qtr sept 27 net
production rose in all sectors except agricultural machinery and aeronautics where it stabilised and ship construction where it declined
the spokesman said the measure was intended to curb an influx of short term foreign speculative capital which threatened the governments money supply growth target
the shares are to be held in a voting trust pending the departments review of usairs application to obtain control of piedmont
fnma sets 720 765 pct coupons par 99875 prices on 15 billion dlr offer
continued deferral of interest payment on these obligations could result in the loans being placed on nonaccrual status the banking firm said
piedmont aviation recesses meeting without taking action on merger proposals
caesars world board approves recapitalization
mobil mob capital expenditures lower in 1987
the us court of appeals for the second circuit upheld a lower court decision dismissing a suit by apex oil co against the new york mercantile exchange and several oil companies
ferro also announced it has agreed to purchase compositair a developer of composit materials applications for an undisclosed sum
development of new products and increased promotion have helped make rice more available and visible to a wider range of consumers usda said
the reserves hit a record 53 billion us dlrs yesterday
these creditors hold two thirds of ecuadors foreign debt which totals 816 billion dlrs
the bouygues led consortium was widely regarded as the less likely of the two candidates in contention to be awarded the three billion franc stake by the national commission for communications and liberties nccl the french television watchdog authority
the canadian forest lobbys zimmerman also said the house of representative bill would adopt a new way of measuring subsidies that would greatly increase the size of any countervailing duties that might be imposed on canadian resource exports to the us under the bill any difference between canadian prices and us or world market prices would constitute a subsidy he said
the number of people actually receiving benefits under regular state programs totaled 2454000 in the week ended march 7 the latest period for which that figure was available
dutch official rate cut seen still likely
the navy was unloading 74000 tonnes of foodgrains from two ships today and four vessels laden with some 90000 tonnes of grains were waiting at the outer anchorage port officials said
gallatin said the securities were sold to a broad range of investors including major insurance companies banks money managers and pension funds
a group of companies controlled by brookehill partners inc told government authorities it may support a buyout of cardis corp as a way to maximize the value of the companys stock
oil and natural gas liquids sold for an average 1420 dlrs a barrel in 1986 a reduction of 37 pct
standard and poors corp said it downgraded baker international corp and upgraded hughes tool co to reflect the companies merger into baker hughes inc
norway approves trade ban against south africa
the report said although there was a reduction in foreign trade financing loans in the past year due to a sharp decline in the price of oil and various primary commodities the quantity financed in physical terms of imports was higher
us m 1 money supply rose 500 mln dlrs to a seasonally adjusted 7387 billion dlrs in the march 9 week the federal reserve said
oper shr loss two cts vs profit three cts oper net profit 273000 dlrs vs profit 1710000 year period ended october 31 1986 oper shr loss 23 cts vs profit 14 cts oper net loss 4397000 vs profit 7527000 assets 267 billion vs 325 billion note 1987 1st qtr net excludes extraordinary loss of 22 mln dlrs or six cts shr
he said he was also concerned by the decline in domestic oil exploration
this is a record in the history of brazilian agriculture a ministry spokesman said
icahn i think had wanted to sell his airline and there were no takers
april registrations opened and closed on february 16 when a daily record 168 mln bags were declared
de croo said at a news conference if you limit textile imports you will re orient textiles to europe and that he said would trigger ec taxes on us goods
no grain to the ussr in latest week usda
gaviria stressed that colombia tried to ensure a successful outcome of the london talks but he deplored that intransigent attitudes both from producing and consuming nations made it impossible
the amount and issue price will be set at tender next tuesday march 31
next year based on an average oil price of 18 dlrs a barrel arco should earn about five dlrs a share
nl industries inc nl 4th qtr dec 31 loss
pennzoil shares were indicated at 85 to 87 dlrs compared with fridays new york finish of 92 1 4 dlrs
meanwhile the federal funds rate average edged up to 614 pct from 608 pct
the market requested and was assigned 8584 billion lire of the 11500 billion lire of 12 month bills offered at a net annual rate of 902 pct down from 905 pct previously
talks between management and unions at cargill uk ltds oilseed processing plant at seaforth adjourned today without a solution to the three month old strike a company spokesman said
traders said furman selz also boosted its earnings estimates expecting reynolds metals to earn 410 dlr a share in 1987 and eight dlrs a share in 1988
he told a press luncheon he hoped japan could cut its current account surplus by some 10 billion dlrs a year until it is reduced to some 50 to 60 billion dlrs
theres just not enough internal capital growth said wertheim analyst james hanbury who follows other us brokerage companies
congressional ire is rising against the multinational development banks which make loans to help other countries produce goods in direct competition with beleagured american farmers and miners
industry sources also predicted usair might reject the twa offer on price and financing concerns
the firm is in early stages of considering the building of an own press shop in britain for about 80 mln stg but egan said this would take at least another three years on the london stock exchange jaguars shares were last quoted at 591p down from 611p at yesterdays close after reporting 1986 results which were in line with market expectations dealers said
the ucpb rejected an original offer of 100 pesos per share made by smc for 33 mln shares which grew to 38 mln after a 15 pct stock dividend declared in june last year
twa has said the stake amounts to about 15 pct
31 1986 fiscal year
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
stanley interiors corp said its first quarter shipments and operating income were lower than expected due to snowstorms in january and february that forced the closing of some of its manufacturing facilities for up to six days
this weeks yield was 695 pct compared with the previous weeks 690 pct
year to date us car production by american motors through the end of march was 8647 vehicles compared to 12553 in the same 1986 period
industry sources said dixons acquired the woolworth shares in connection with its unsuccessful bid for the company last year
ended jan 31 shr nine cts vs eight cts net 246000 vs 369000 revs 204 mln vs 112 mln avg shrs 2123000 vs 1882000 note 1985 restated
philippines said to raise interest offer to banks
insurance group guardian royal exchange plc grexl said it would expand its life assurance business and push further into european markets but that uk underwriting losses remained a heavy drag on profits
the wheat is expected to be loaded tomorrow an australian wheat board spokesman said
the largest of the issues will be a three billion franc bond for the caisse daide a lequipement des collectivites locales caecl comprising a two billion franc fixed rate tranche and a one billion franc variable rate tranche
wages and salaries increased 88 billion dlrs in may after a 70 billion dlr rise in april while manufacturing payrolls were up 16 billion dlrs in may after falling 13 billion dlrs in april
a burning issue must be whether there ought to be a complete seperation in the future of risk arbitrage and investment banking proxmire said
bilfinger und berger bau ag gbfgf expects group construction output in 1987 to fall to around 25 billion marks in 1987 from 273 billion last year and sees foreign business stabilizing just under its 1986 level
weinberger said us warship movements in the gulf area were not unusual
the european commission was authorised to buy up to one mln tonnes of maize into intervention stores in the second half of june although sales into intervention normally end on april 30 commission sources said
japan to introduce yen commercial paper in october
in an administrative complaint the sec said allied and its legal adviser failed to promptly inform shareholders and the agency that it had begun talks with youngstown ohio shopping center developer edward debartolo in response to campeaus takeover offer
full name is international biotechnologies inc
the bank of thailand is seeking finance ministry approval to issue its first bond central bank sources said
swedens competitive position was also seen at risk from accelerating wages
so saudi arabias 11 commercial banks have pinned hopes on negotiated settlements rather than enforced ones and are resigned to not being able to recoup loans in full
the reserve bank said it would offer for tender 200 mln dlrs of 13 week treasury notes next week
brokers and unit trust managers said the recent surge in economic confidence under the psd rule was still largely underpinned by continuing optimistic forecasts
gobert characterized the market action in dome as awfully optimistic but said investors are hoping for a competing offer to the shareholders
the company said clinton president f
the acquisitions include sleepeeze ltd in the uk compagnie continentale simmons sa in france and compagnia italiana simmons spa in italy
weintraub entertainment group inc said it agreed to acquire cannon groups screen entertainment film library
taiwan proposes further tariff cuts
sosnoff said in the newspaper advertisement that the amended offer is conditioned on receipt of enough shares to give him a majority interest on a fully diluted basis and on the arrangement of financing as well as to approvals by new jersey and nevada gaming authorities
for the disinflationary process to continue and price competitiveness to become lastingly compatible with exchange rate stability it is essential that wage restraint continue it said
sosnoff and mts acquisition corp regarding its march 9 unsolicited tender offer for caesars world stock
other figures were jan87 dec86 jan86 refined production 155980 164243 166968 refined deliveries 131910 122364 136727 mine output metal content 77120 70560 81356
payment date is april 10
although the physical industry is aware of the market and follows its prices keenly this has not been reflected in market volume elmer said
about 800 mln dlrs of the purchases here were in goods of the type south korea normally bought from japan
this provides a rate of 350 pct for three day deposits and is an effective floor to the market
ccc export bonus dairy cattle for canary islands
sankei building co ltd is issuing a 60 mln dlr equity warrant eurobond due may 7 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
senator richard lugar of indiana ranking republican on the us senate agriculture committee has not decided whether to introduce an administration backed bill to apply the so called 0 92 provision to 1988 through 1990 grain crops an aide to the senator said
sungard data systems inc sndt offering of 12 mln shares of common stock through alex
foreign exchange reserves totalled 703 billion crowns compared with 684 billion in april and 880 billion a year ago
the first tranche would be available late this month or in early april
to that end the committees representatives will be invited in advance of the annual meeting to examine the companys financial records to monitor its operations and to join company officers in meetings with the companys suppliers bankers and key personnel crazy eddie said
trade friction threatens to topple nakasone
operators said the sharp rise reflected higher output at several of norways biggest fields and resumed production at fields shut down for 27 days in august for the ekofisk field rescue project
the company said pricing competition and lower traffic levels in the motor carrier industry hurt its first quarter results
this tax cut merely rolled back the inflation induced tax increases that occurred between 1978 and 1981 he added
demetree and managers of pcr
a meeting has been set for tomorrow in brasilia of the cnpcs export marketing committee to establish a system for allocating the 25 pct of export quotas based on stock levels the spokesman added
liberian ore carrier in collision in river elbe
the agreement would be calculated on the basis of perelmans previous holding of 184 mln shares adjusted for a split
melamed said capital flows which he estimated can approach 200 billion dlrs a day would overwhelm efforts by governments to control currency fluctuations
the dates for the baker chung meeting have yet to be set
although net exports will add 07 pct to gnp this year after reducing it by 12 pct in 1986 consumer spending will contribute 14 pct less to gnp than it did last year
because of the possibility that further dollar depreciation and thus rising inflation may be needed to close the trade gap brusca said im not prepared to be all that optimistic about the bond market
most japanese companies have decided not to renew term contracts to lift iranian crude oil because spot prices remain considerably lower than opecs official levels industry sources said
marginal corn acreage will likely be the bulk of the acreage pulled from that area he said
tonight a spokesman for usair said the airline had no comment on twas lawsuit
miyazawa told the japanese reporters the us unit fell because japanese investors sold dollars to hedge currency risks before the close of the 1986 87 fiscal year on march 31
2nd qtr jan 31 end shr loss three cts vs loss nine cts net loss 112400 vs loss 275400 sales 318100 vs 23600 avg shrs 4294300 vs 3028326 1st half shr profit four cts vs loss 14 cts net profit 165600 vs loss 409100 sales 546600 vs 44400 avg shrs 4189700 vs 3028326 note current year net includes gains on sale of assets of 25000 dlrs in quarter and 396000 dlrs in half
first financial management corp said it acquired the data processing contracts and certain related assets of tel a data lp for about 57 mln dlrs cash plus the assumption of certain liabilities of about 25 mln dlrs
waste management also said that chemlawn has offered to supply waste management with materials being forwarded by chemlawn to other potential purchasers of chemlawn but only if waste management agrees to conditions which would result in termination of its current offer and a 120 day standstill on any unnegotiated transaction
brazil is currently suffering from the worst inflation of its history
aside from the london branch of den danske and the arranger other dealers in the programme would be the swiss bank corp international and sg warburg and co ltd
issuing and paying agent is first chicago clearing centre
the decline will result from low world grain prices leading to shifts to livestock and other crops which could benefit us wheat exports the department said
dorchester hugoton ltd dhulz raises payout
the central bank said the value of exports from january to august 1987 stood at 1132 billion dlrs and imports 1204 billion dlrs
the subsidies were immediately restored as part of moves to quell the disturbances but they are estimated to cost the government about 500 mln kwacha per year
san juan racing association inc sjr 3rd qtr
carson pirie crn to start proxy mailing
the 775 dlrs a share cash offer expired at 2000 est yesterday
transco announced yesterday it would no longer provide open access to transport spot natural gas to its customers for fear of accumulating more take or pay liabilities
federal paper board co fbt sets payout
the thyssen group did over 50 pct of its business outside west germany
american cyanamid acy changes record date
theyre well run theyre a good investment theyre doing well in a growing market and thats the way we want to keep it szynkarsky said
venezuelas recent agreement with its creditor banks reprograms six billion dlrs of its 21 billion dlr public sector foreign debt rescheduling and reduces repayments due between 1987 and 1992 finance minister manuel azpurua said
this kind of deterioration in trade relations between two countries which are major trading partners of ours is a very serious matter button said
the tin pact failed when its buffer stock manager ran out of funds to support prices
the debentures have an 8 5 8 pct coupon and were priced at 9973 to yield 100 basis points over the off the run 9 1 4 pct treasury bonds of 2016
washington will review the ec proposal when it is formally submitted and respond to it officially then
encor energy corp inc said it planned an issue in canada of 125 mln dlrs of 675 pct subordinated debentures convertible any time into encor common shares for a price of 10 dlrs a share
he said the current instability of exchange rates will not last
the lower and upper indicative prices floor and ceiling prices will remain fixed at 150 and 270 cents unless the council decides to revise them at reviews held every 30 months
shr loss 79 cts vs profit 30 cts net loss 21 mln dlrs vs profit 675935 dlrs revs 55 mln dlrs vs 91 mln dlrs notethe year ended march 31
investors pay for the bond on may 21
pig cash settlement futures saw 201 contracts traded against 19 in january and the value rose to 659864 stg from 119610 stg
this was due to the lacklustre performance of the us economy the continuing us trade deficit and japanese delays in announcing an economic stimulation package
total offtake in the first four months of the current year was 271 mln tonnes including 241000 tonnes imported for domestic use and 4000 tonnes for export against 281 mln tonnes including 993000 imported for domestic use and 3000 tonnes for export in the corresponding period of 1985 86
the first two cargoes were on a cash basis and the may position was transacted on a 30 pct counter trade basis traders said
french gross domestic product will grow by only 15 pct in real terms this year compared with the governments forecast of two to 25 pct growth the private institut des previsions economiques et financieres pour le developpement des entreprises ipecode said
washington presented its reading of rules on inducement to purchase aircraft and support for development of airlines during the special session and asked the committee to confirm its view
tektronix tek begins dutch auction tender
dutch consumers industry see veg oils tax threat
the us has threatened to impose tariffs worth up to 300 mln dlrs on japanese electronics exports to the us in retaliation for japans alleged failure to keep a pact on the microchip trade signed last september
we will not get another chance before the year 2000 he added
old republic intl corp oldr hikes dividend
the current bid is 55500 dlrs but offers at 65000 show that confidence in simex remains said michael killian general manager of chase manhattan futures corp
pakistan firm raises three billion yen in japan
qtly div 55 cts vs 55 cts prior pay april 27 record april one
first interstate said net proceeds would be used principally to fund investments in or extensions of credit to the companys subsidiaries or to repay loans incurred for such purposes
it also said teles pires mining controls rights to a 350 kilometer section of the teles pires river where one dredge is expected to produce 10000 ounces of gold in 1987
ascs also bought 111 mln pounds of bakers flour for 11 mln dlrs 19 mln pounds of pasta for 408258 dlrs 14 mln pounds of processed cereal products for 304043 dlrs 48 mln pounds of corn products for 474944 dlrs and 163 mln pounds of milled rice for 20 mln dlrs
they referred specifically to a doubling of special writedowns for small and medium sized companies announced in a package of tax adjustments planned for 1988 and described this as an increase in subsidies
international cocoa organization icco council chairman denis bra kanon said he will attempt to reach a compromise on buffer stock rules for the international cocoa agreement
bankamerica says 1st qtr net to be cut by 40 mln dlrs due to brazilian loans
john maslen head of the ec delegation told as he emerged from the final session we made some progress but we have called for another meeting officials who asked not to be named said the comecon team had refused to accept a clause in the draft declaration which would recognise west berlin as part of the 12 nation ec
shr profit three cts vs profit 36 cts net profit 1800000 vs profit 192 mln nine mths shr profit 122 dlrs vs loss 44 cts net 647 mln vs loss 235 mln note 1986 3rd qtr and nine months includes a profit of 28 mln dlrs and a loss of 667 mln dlrs from discontinued operations
the cartels self imposed and self regulated are not legally binding but industry finds it in its own interest to stick to them
high point sells debt and stock contracts
they said the facility which will be syndicated among a small group of the borrowers relationship banks is being put in place ahead of the privatisation of rolls royce in april or may
it said it expects to produce saleable ore from the mine before year end
shr loss 22 cts vs profit 10 cts net loss 1056000 vs profit 427000 sales 5440000 vs 4982000 avg shrs 5229542 vs 4435691 year shr profit one ct vs profit 26 cts net profit 29000 vs profit 993000 sales 191 mln vs 168 mln avg shrs 4947632 vs 3780543
standard chartered plc stchl faced with a recession in the key singapore and malaysian markets and an ongoing depression in the shipping industry boosted its bad debt provisions in 1986 chairman lord barber said
in a filing with the securities and exchange commission prospect group said it bought the 527000 brinkmann shares in open market transactions between august 12 and october 16 at 962 dlrs to 1150 dlrs or a total of 569 mln dlrs
society savings socso forms holding company
ministers also issued a statement saying they were disturbed by moves in the us to limit imports of textiles and warned that the community would react to any such moves
uk trade figures buoy hopes of interest rate cut
duffy here on a three day visit after talks in the united states the european community ec and latin america said considerable progress has been made by the group towards fighting costly protectionist policies pursued by developed countries
the stock rose four points to 189
the state oil company said pdvsa will pay on the order of 30 mln dlrs for the half interest in champlin
oper shr for qtr and six mths 1986 adjusted for stock split and dividend distribution in november
nippon signal issues 50 mln swiss franc notes
rockwell international corp continues to expect significant improvement in 1987 results despite the somewhate disappointing performance of one of its business segments president donald beall told 
after the trade data are released the dollar could fall towards 177 marks and 140 yen similarly natsuo okada of sumitomo bank in new york warned i dont think the dollar has bottomed out yet although the dollar could rise as high as 14650 yen okada said market impatience about the painstakingly slow decline of the us trade deficit may lead to renewed pressure
volkswagen dividend unchanged on 1986
some us money center bank stocks fell by about 10 pct in the immediate aftermath of brazils payments halt
debt rescheduling package for nigeria may be signed by mid september barclays nigeria say
us grain analysts see lower corn soy planting
rates were unchanged on those indicated at the time the offer was announced on april 4
the grain sorghum harvest reached 17 to 19 pct of growers targets against 14 to 16 pct the previous week
the company said it expects to release earnings in april
it said it will proceed with a previous decision to phase in a new 100 mln pound staple fiber plant at carolina eastman
as far as south africa is concerned it looks like very good news one source said
but trade union leaders served immediate notice they would push to protect the purchasing power of their members raising the spectre of a vicious spiral of wage and price rises
japans ntt forecasts profits fall in 1987 88
issues for all of february rose to nearly five billion marks from 36 billion in january
they said they may buy more stock or sell some or all of their stake depending on market conditions but have no plans to seek control of the company
the company said it has 11109190 shares outstanding of which about 1734000 are held by intel corp intc it is anticipated the fintel shares will be purchased for 275 dlrs a share in connection with the merger with hemdale computer memories said
between february this year and february 1986 real earnings rose 05 pct the department said
they said the japanese oil market would be most affected and japanese end users would need to rebuild stocks for winter requirements before october
shr 75 cts vs 55 cts net 8031000 vs 5819000 nine mths shr 216 dlrs vs 142 dlrs net 232 mln vs 151 mln assets 341 billion vs 284 billion deposits 254 billion vs 219 billion note 1987 nine mths includes gain 1008000 dlrs or nine cts per share from utilization of prior years net operating loss carryforwards
american express bank ltd a unit of american express co said it has agreed with the mexican government and local business groups to convert 100 mln dlrs of existing debt into equity to fund the construction of 3000 hotel rooms around mexico
france had not sold wheat to colombia for several years
the conversion price was set at 1052 yen while the foreign exchange rate was fixed at 14620 yen per dollar
ar sendi said on sunday that ugandas ministry of industry supports his plan to build a factory to roast grind and pack local coffee for export
and even if free market reforms followed debt fogiveness would frighten away investors who would not risk their capital in a country which abandoned its obligations and he said a debt forgiveness plan that damages commercial banks also weakens confidence in world financial stability he cautioned that resolving the debt situation would be a gradual and painstaking process varying from country to country
bluefield supply co said its board declared its second liquidating dividend of 171 dlrs per share payable march 16 to shareholders of record march 13
npo therapies provides home infusion therapy services
of course it will take the dollar into account in future policy decisions but if the economy is weak it wont pull back from easing
he said brazils decision to stop payments on its debt had captured the attention of the international community but the country should now produce a plan to reform its overheated economy
in 1987 88 the quota will rise to 177000 tonnes from 168000 in 1986 87 ministry officials said adding japan wants to keep self sufficiency in beef at around 70 pct
the project aims to facilitate mexican oil exports to japan and the far east and is expected to be completed in three years
omnicom group inc omcm 4th qtr net
the issue price will be 9818 pct and it will have a life of 12 years 259 days
he called the present situation more difficult and in a draft proposal included in the task forces report suggested setting up an institution possibly within the world bank with a fund that could deal with a future debt crisis
in fact hog operations on many mixed livestock grain enterprises have been so profitable that it actually enabled some farmers to get back on their feet and refinance their loans just based on the hog operation alone levitt said the weight breakdown in the report also was negative in that some lead time was anticipated before the slaughter increased from the previous year
the american meat institute ame said it intended to ask the us government to retaliate against a european community meat inspection requirement
delegates on both sides are keen to come to some agreement today the last day of the fortnight long council meeting they said
humana inc said it has agreed in principle to sell 68 medfirst primary medical care facilities to primedical corp for undisclosed terms with transfers taking place over the next four months
allegheny ludlum corp initial public offering of 5165000 shares of common stock including 765000 by current holders at an estimated 21 to 24 dlrs a share through goldman sachs and co
samjens lawyers also pointed to a lawsuit filed by burlington in canada in which it said it was considering a bid for dominion
dealers said if steps are not taken to stimulate the japanese economy protectionist sentiment in the us congress would grow and put more downward pressure on the dollar
kiena said 57 pct owner campbell red lake mines ltd crk was expected to vote in favor of the split
enserch corp ens sets quarterly
ford europes net earnings soared by 71 per cent last year to 559 mln dlrs kenneth whipple chairman of ford europe said
johns and 35 kilometers southeast of hibernia field was discovered by petro canada in 1984
vlsi vlsi plans debt offering
woolworth said the percent it owns does not include 583650 class a shares of armel which were tendered or will be purchased pursuant to the options
the countrys palm oil stocks now total some 500000 tonnes against about 800000 last march the growers said
credit national is issuing a 100 mln dlr eurobond due april 23 1992 with a 7 3 8 pct coupon and priced at 101 5 8 pct ltcb international said as lead manager
ministers were this afternoon trying to agree a joint statement on the eurofer plan and the situation in the industry
other members of the mdp which includes the communist party and a faction of the socialist party took five of the principal positions on the unions directorate
federal and alberta goverment aid measures helped cushion the industry downturn in 1986 and are improving 1987 results
the selling concession is one pct while management and underwriting combined will pay 1 2 pct
ausimont compo aus sells unit
york research corp said it has completed the arrangement of 11 mln dlrs of common stock to european investors
fees of 01 pct comprise two basis points for management and underwriting and eight points for selling
management fee is 10 basis points
loral lor debt lowered by s p
interest will be payable march 15 and september 15 beginning september 15 1987
dealers generally doubted whether any economic package japan could adopt soon would be effective enough to reduce its trade surplus significantly and said such measures would probably invite further us steps to weaken the dollar
based on last weeks events there is little to indicate that the appetite for yield has begun to wane said economists at salomon brothers inc
the price is subject to final adjustments taft said
also corrects quarter loss from discontinued operations
oecd says high wage deals harming nordic states
giant bay gbylf in idaho gold venture
if the connecticut law is not amended in time lougee said an option would be to spin off that unit with repurchase provisions
audited net earnings in 1986 of 496 mln dlrs or 478 dlrs a share compared to a 1985 loss of 581 mln dlrs or 278 dlrs were unchanged from the companys preliminary earnings report made on jan 28
lead manager will be drexel burnham lambert inc
a recent example was the 15 per cent duty the us imposed on canadian lumber exports on grounds the shipments were being subsidized
csr said it had dropped plans to float its oil and gas interests held in the delhi australia fund and would instead sell it to exxon corp xon unit esso exploration and production australia inc for 985 mln dlrs
imperial oil imoa to focus on higher profit
schlick said flooding destroyed a number of levees along the two rivers last october leaving farmland there vulnerable to further damage this year
the company said each 1000 dlrs principal amount of the debentures will be redeemed at 1068 dlrs plus 708 dlrs of accrude interest
the plan will require the approval of stockholders and that of the nevada and new jersey gaming regulatory authorities
but the new study reported in thursdays new england journal of medicine shows the diseases can spread to humans
gateway sporting buys innovative dental
the meeting was unveiled as part of a plan to boost imports and help head off protectionist legislation in the us senior officials from the ministry of international trade and industry told reporters that such personal appeals appeared to have paid off in the past as japanese imports of manufactured goods have climbed
the chrysler spokeswoman said we are still working toward a definitive agreement said another chrysler official who is not part of the talks but who would be told if the deal were in trouble there are no glitches analysts also downplayed the significance of the delay
lichtblau said the us depended on foreign suppliers for 33 pct of its oil in 1986 and predicted that would increase to 40 pct by 1990
levon resources said the revised zone two assays compared to previously reported averages of 0545 ounces of gold a ton over a 103 foot section with average width of 4302 feet
1985 net includes 108 mln dlr gain on sale of canadian natural gas property
it said grain traffic recovered from drought affected levels of a year ago but was offset by weakness in other traffic areas and increased expenses
oil normally accounts for 60 pct of its exports
the rise compared to a 18 pct rise in january and a 25 pct rise in february 1986
more the quebec government has said it wants the project to proceed because it would provide future demand for petromont inc petrochemical products
that is not a constructive way to proceed he said
wednesdays actions left gems facilities 40 pct operational and there were only limited strikes yesterday
the us figure should be closer to ours he said
oppenheimer raises nwa nwa earnings estimate
us durum wheat bonus bid to algeria accepted
finlands kansallis osake pankki said in a statement it is issuing 100 mln dlrs subordinated bonds due 1994 with equity warrants in international markets with maximum interest rate of 4 5 8 pct
and the australian reserve bank using the fed as agent sold australian dollars in the us yesterday dealers said
cra expects to pay final dividend of 10 cents
a total of 500 mln lira of commercial paper of turk henkel as is on sale today osman erk deputy general manager of yapi ve kredi bankasi told 
argentina brazil trade jumped 90 pct in 1986
meridian an oil and gas company whose operations are primarily in oklahoma said the acquisition will increase its its consolidated assets to 30 mln dlrs and its contractually committed gas reserves to more than 40 mln dlrs at discounted present value
they said a cargo of the mideast benchmark crude dubai traded yesterday at 1650 dlrs a barrel compared to its official price of 1742 dlrs
this issue of national share was defused on the mexican committee but bankers say it will probably recur in talks with argentina and brazil whose finance minister dilson funaro has already suggested separate negotiations with regional committees of creditors
seng pointed to japans beef quota system which limits total japanese beef imports to 177000 tonnes per year and us imports to 58400 tonnes as the major constraint in expanding us beef shipments to japan
its a commodity business and becoming more so he said
nortek has proposed paying half cash and half nortek convertible preferred stock for rexham which has about 42 mln shares outstanding
federal funds opened at 6 3 8 pct and eased to 6 5 16 pct in early trading
it said it expects to complete the note sale on april nine and plans to use up to five mln dlrs of proceeds to buy convertible notes of rayrock yellowknife resources inc
opec produced an average 161 mln barrels per day bpd of crude oil in february down from 165 mln the previous month and an overall 173 mln bpd in fourth quarter 1986 the international energy agency said
revenue fell to 455 billion dlrs from 491 billion in an extremely competitive and over regulated environment chairman and chief executive kevan gosper said in a statement
on the whole the deal appears to pose little risk for ge heymann said
lindner last week told the securities and exchange commission he may be interested in making a bid for taft
at the annual toy fair earlier this month vice president morton handel said analysts 1987 projected earnings of 90 cts a share on sales of 600 mln dlrs are reasonable
yeutter said earlier the three most contentious trade issues were semiconductors japanese government unwillingness to allow public entities to buy us super computers and the barring of us firms from the eight billion us dlr kansai airport project near osaka
it said the division has yearly revenues of about 12 mln dlrs and makes rf microwave components for the defense electronics industry
london march 26 the bank of england said it provided 15 mln stg in assistance to the money market this morning buying bank bills in band two at 9 13 16 pct
japanese officials say they are implementing the report as fast as they can said a european ambassador who has travelled the country asking about this issue
volcker pushes spending cuts over trade bill
foreigners do not receive the corporation tax bonus granted to domestic investors for share dividends
cbt to submit yen bond futures contract to cftc
balances in tax and loan note accounts fell to 15513 billion dlrs from 17257 billion dlrs on the same respective days
centerre ctbc acquires benefit plan services
but cathay pacific recorded sharp increases in net finance charges to 1249 mln dlrs from 444 mln a year
earlier today us treasury assistant secretary told a senate banking subcommittee that he did not believe that west germany and japan have yet carried out their international responsibilities
the two countries signed a pact last september in which japan agreed to stop selling its microchips in the united states and other countries below production costs and to allow the us semiconductor industry access to the japanese market
the offer is conditioned upon at least 80 pct of the outstanding shares and at least 80 pct of the voting securities being tendered before expiration of the offer
inter city gas corp icg 4th qtr net
in 1986 company changed fiscal year end to dec 31
the spokesman had no further comment
i think it is very healthy when you can get into a period of stability she said
we hope they will be flexible or it will be difficult to negotiate the icco comprises 33 member countries
mcgraw hill inc said it bought medecines et sciences internationales sa a french healthcare publisher from harper and row publishers inc
abbott laboratories inc abt 1st qtr net
but with the current mineral export tax level being levied a net loss is likely to be registered
ic industries inc said its board approved a second major step in the reorganization and restructuring of the company
the federal reserve is expected to refrain from reserve management intervention in the us government securities market economists said
canada 91 day t bills average 695 pct making bank rate 720 pct
the increase brings citgos posted price for west texas intermediate to 1700 dlrs a bbl
thus although there were 103 billion dlrs of repos outstanding on wednesday night the fed may have wanted to add even more reserves but was prevented from doing so
the sources believed a return of oil below 18 dlrs a barrel may open the doors for international oil companies to pressure opec over contract prices similar to the struggle last march it said apparently referring to resistance by buyers to lift from qatar unless it gave price discounts
gordon said his positive opinion on jp morgan and bankers trust was not merely a response to the fact that the two have lower exposure to brazilian loans than other banks
atlantic financial said it signed a definitive agreement to acquire centurion savings and loan association atlantic did not disclose the purchase price
the bank of france which was reported buying dollars against the yen in paris had made inquiries with swiss banks as well and the bundesbank had also intervened
b and c shares eased 11p to 459p at 1040 gmt
ab astra astsst said it was proposing a two for one share split and the issue in june of a new series of foreign targeted shares with lower voting rights as part of a strategy to internationalise the company
the financial rand widely viewed as a direct reflection of foreign investor confidence in south africa appears headed above 30 us cents dealers and bank economists said
schlang said the companys profits are concentrated in the fourth quarter
virginia electric and power co subsidiary of dominion resources inc d shelf offering of up to 1350000 shares of 100 dlr preferred stock
fuso finance co ltd in osaka is owned 50 pct by sumitomo with the rest equally shared by two small sumitomo metal subsidiaries
there is evidently a common interest in the matter he said
the study is unfair and unacceptable because it does not take account of various differences in farming conditions in each country such as geography the source said
noranda to sell 150 mln dlrs in debentures
if supplies become more difficult and prices strengthen further feed compounders may increase cereal substitute usage traders said
februarys strong sales reflected a lot of fresh merchandise on the shelves and higher consumer income due to tax reductions said greenstein of bear stearns
prices are inching up and lead times on deliveries are stretching kurlack added
britain normally a keen advocate of radical changes in the ecs costly farm subsidies system warned the proposal to impose the tax on both domestic and imported oils and fats could seriously damage the ecs trade relations with other countries
aegon 1986 net profit rises 64 pct
in essence the council is claiming that its status is similar to that of a foreign embassy and that its archives can therefore not be used in an english court of law
it said in a statement the stabilisation of crude oil prices and the organisation of petroleum exporting countries efforts to achieve further firming of the price has led to growing inflationary pressures in the us money supplies in the us japan and west germany exceed central bank limits and real growth of their gross national products it added
shr loss 19 cts vs profit seven cts net loss 851000 vs profit 227000 revs 2600000 vs 4800000 year shr loss 46 cts vs profit 19 cts net loss 2100000 vs profit 600000 revs 9900000 vs 159 mln
squibb will sell the drugs only in japan and other markets but not in north american and western europe
mellon bank corp mel 3rd qtr net
march retail sales for major us retailers store pct 1987 1986 sears 42 26 bil 25 bil k mart 46 22 bil 21 bil jc penney 13 11 bil 11 bil wal mart 32 11 bil 855 mln federated 49 934 mln 891 mln may 35 885 mln 855 mln dayton 48 792 mln 756 mln woolworth 02 591 mln 590 mln zayre 127 522 mln 464 mln
but us officials and businessmen are convinced low us exports to japan are japans fault
the attack on the oil platform was the latest example of a us tit for tat policy that gave iran the initiative said harlan ullman an ex career naval officer now with csis
senate wants japan semiconducter pact enforced
buchanan smith said the uk has no intention of adopting opec style quotas noting that britian is an oil consuming as well as an oil producing nation
wall street stocks chrysler c amc amo 
moodys cut the parents subordinated debt to baa 1 from a 3 and the lead banks long term deposit obligations to a 1 from aa 3
german net currency reserves fall 54 billion marks to 817 billion bundesbank
group 77 officials set agenda for dhaka meeting
usda projected chinas 1986 87 wheat imports at 700 mln tonnes vs 700 mln tonnes last month and estimated 1985 86 imports at 660 mln tonnes vs 660 mln last month
it said the agreements are subject to regulatory approval
the 360000 tonnes in the inra buffer stock must be liquidated and a free market returned a malaysian trader said
similar fixing was reported yesterday at 6000 dlrs
the extra fiscal measures planned for next year are part of a general reform of the tax system which will come into effect in 1990
china january wheat sugar imports below year ago
but economists said todays whiplash moves do not have long term significance and that markets should try to keep the underlying fundamentals in mind
on fields likely to pay prt in the future the benefit is of timing
associated newspapers has 10 pct of northern star
but the loss of many jobs to foreign competition has raised similar concerns among more moderate senators
inflation meanwhile is expected to stabilize at around the current four pct level over the next two years
shr 43 cts vs 30 cts net 106 mln vs 5967000 revs 629 mln vs 415 mln avg shrs 2007 mln vs 202 mln year shr 126 dlrs vs 85 cts net 301 mln vs 166 mln revs 2108 mln vs 1216 mln avg shrs 239 mln vs 194 mln note share adjusted for january 1987 two for one split
notwithstanding such technical default metromedia which dissolved on december 17 1986 said it will pay all of its liabilities
shr 19 cts vs 18 cts net 362692 vs 347868 revs 6311808 vs 5827538 12 mths shr 60 cts vs 80 cts net 1152746 vs 1534503 revs 247 mln vs 252 mln
baldrige told the senate finance committee the united states would insist japan open its markets to us products as the us market is open to japanese products
barley deliveries were also unchanged at 662 mln tonnes against 77 mln in 1985 86
the indian state trading corporation stc bought a 20000 tonne cargo of optional origin rapeseed oil at its vegetable oil import tender yesterday traders said
payment date is april 15
bank of england does not operate in money market
the committee narrowly rejected a version of the legislation that would have permitted 15 billion dlrs in borrowing authority over a longer time and was the version favored by the administration
including acceptances loans dropped 134 billion dlrs to 6323 billion
nippon life shearson tie up seen setting trend
as crude production also fell there is likely to have also been a decline in non reported stocks particularly at sea the iea said
it was all very tentative
the following deliveries are scheduled for april 6 against chicago baord of trade futures silver 392 lots at chicago illinois
the current account deficit shows signs of easing slightly and could narrow to 12 billion dlrs by the end of 1988
franklin california tax free sets payout
noranda said the cause and full extent of the damage is still unknown but said it does know that the fire destroyed 6000 feet of conveyor belt
suralco offers cash for workers to leave
it said it has not decided its next move it the exchange proposal does not lead to negotiations with cenergy
security capital said this action was taken in response to its continuing operating losses primarily at benjamin franklin savings association a houston based subsidiary
the federal reserve entered the government securities market to arrange one billion dlrs of customer repurchase agreements a spokesman for the new york fed said
inter tel inc intlao 2nd qtr may 31 oper net
venezuela plans new borrowing with limits
uk feb cuurent account surplus 376 mln stg vs jan surplus 73 mln official
andriessens latest package comes only months after a decision to cut dairy production by 95 pct over two years and to slash beef prices by around 10 pct
in the netherlands real gdp growth will also slip to 15 pct this year and one pct in 1988 with dutch exports becoming less competitive and imports rising
the bond is available in denominations of 5000 and 50000 dlrs and will be listed in london
the sec as a matter of policy never comments on its enforcement activities
robert stevenson k mart vice president told the talks which began about six weeks ago ended
5300 is a delaware corporation formed by american seaways foods inc rini holding co and rego companies which owns 15 mln shares of fisher or about 44 pct of its outstanding common stock
brazil is not selling cocoa beans to the international cocoa organization icco buffer stock as spot prices for beans in the interior area are 20 to 25 pct higher than levels which would be paid by the icco buffer stock manager trade sources in the major producing state bahia said
the officials took comfort from a decline in the volume of exports last month after an unexpected year on year increase in january
share adjusted for three for two stock split
a mine official said that the fire broke out last night and about 25 of the miners made it to safety
canadian imports rose 32 per cent to 26 million gallons japan 99 per cent to 12 million gallons and britain 202 per cent to 962360 gallons
he also said he still believes a dollar exchange rate level plus or minus 10 yen from 170 yen would be within levels agreed upon last month in paris by six major industrial nations
citicorp has estimated its profits for the first quarter would be cut by 50 mln dlrs if it put brazil on a cash basis
of the unadjusted counterparts to sterling m3 bank lending to the private sector expanded 26 billion stg after a 14 billion rise in january the bank said
the us agriculture department detailed world supply demand data for major importers and exporters of coarse grains by country as follows in mln tonnes ussr coarse grain 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks na na na na production 10330 10330 9999 9999 imports 1200 1000 1370 1370 domes use 11230 11230 11199 11199 exports nil nil nil nil end stocks na na na na na not available
west germany imported 56823 tonnes of fishmeal in december up from 46236 tonnes in the same 1985 month with re exports at 22262 tonnes after 25062 a year earlier
qtly div 19 cts vs 19 cts prior pay april 15 record april one
poehl said however that japan had not yet fulfilled its pledges for economic stimulation
secondly other opec members will press for another price rise if the dollar remains weak against other currencies
van lanschot bankiers is a subsidiary of van lanschot beleggingscompagnie bv in which britains national westminster bank plc and dutch cooperative bank rabobank nederland ba each have a 40 pct stake
henry schroder wagg ltd which has already formed a group of 19 co managers
the four weekly flights to washington will be increased to five at the end of the month a statement said
net change in export commitments usda
brokers have to push their clients somewhere and technically the pound is in the best shape painewebber analyst jason gillard said
uspci inc upc 3rd qtr net
their secretaries said they were out of their offices
oxford industries inc oxm 3rd qtr feb 27
sand technology sells under its trademark computer accessories such as disk drives solid state memory enhancement devices and printers manufactured by hitachi ltd hit of japan
the slowdown in orders has been caused by the strong yen and a protracted worldwide shipbuilding slump
the stockpile now contains around 10 billion dlrs of materials
oil analysts said that rtzs assumption of liability was shared by the industry as a whole
shr 11 cts vs nine cts net 21 mln vs 16 mln revs 608 mln vs 329 mln avg shrs 197 mln vs 172 mln note period ended january 31
the office said the production index base 1980 stood at 973 in december against an adjusted 1169 in november and 988 in december 1985
technical meetings are to be held today and tomorrow with meetings at a more senior level scheduled for thursday and friday
nv hoogovens 1986 net profit 1546 mln guilders vs 2788 mln official
many had expected to fed to buy bills for itself thereby adding permanent reserves to the banking system
it estimated 1985 86 output at 2425 mln tonnes vs 2425 mln last month
canada 91 day t bills average 729 pct making bank rate 754 pct
the marketing year for corn began september 1 it said
japan buys canadian rapeseed
the phlx now offered options in eight currencies including a new australian dollar option and traded an average 42000 contracts daily with underlying open interest of more than 30 billion us dlrs
the important implication of the maekawa report is that it is finally looking to let japanese enjoy the fruits of their labour said philip caldwell senior managing director of shearson lehman brothers
technical measures wont be enough to protect the ems against external factors such as dollar weakness
canadian money supply rises in week
earlier this week british prime minister margaret thatcher said britain could not go it alone on sanctions against japan but would have to coordinate action with its european community partners
bundesbank president karl otto poehl told a closed investment symposium that west germany could cut leading interest rates again if the united states makes a similar move banking sources said
the unit also has agreed to pay a debt of 400000 dlrs to tarxien company ltd which is 40 pct owned by multi step
note in july 1986 company set a dividend on series c preferred effecting a spin off of its chemical operations
chevron corp said it sold 46 mln shares of unc inc common stock on june 15 leaving it with 14 mln unc common shares or 84 pct of the total
taiwan to relax import curbs on more goods
south koreas leading indicators rise in february
the committee rejected the administrations request for 216 mln dlrs as the us contribution to un peace keeping troops in lebanon
saudi riyal interbank deposit rates surged across the board as banks tried to build long positions in anticipation of a further rise in us interest rates dealers said
a shareholder group led by new york investor theodore cross said in a securities and exchange commission filing that it boosted its stake in frost and sullivan inc common stock to 208800 shares or 137 pct of the total outstanding
payment date is april 24 and there will be a long first coupon
the purchases of us wheat completes the export enhancement program initiative announced on december 31 1986
broad corp said it acquired the construction activities of vogt and conant co of cleveland
the company also said it believes sales in the first quarter will surpass record sales of 21 billion dlrs last year
paradoxically it is the pick up in the economy that is partly to blame for the stock market collapse as companies have shifted funds away from financial investments to increase inventories and step up capital spending one government economist said
the kobe rubber exchange said it will extend its trading hours from may 1 to enable more operators to use the exchange
she said evergreen had doubled its capital to eight billion taiwan dlrs since last august
usda said world trade is expected to fall in 1987 because of large production and stocks but a weaker market should affect competing exporters more than the us the united states has already recovered a substantial share of the european community market and made inroads into markets in the middle east and africa the report said
gabelli rosenthal and partners lp and g and r partners which hold the remaining 370700 digiorgio common shares told the sec their purpose is to ultimately obtain control of digiorgio contingent upon approval of digiorgio according to the sec filing
grain ships waiting at new orleans
cold temperatures over the next month could cause damage under these conditions they said
the airline also announced it acquired a 65 pct stake in ems corp of calgary an in city messenger service
shr 80 cts vs 72 cts net 18900000 vs 17100000 sales 2674 mln vs 2886 mln nine mths shr 226 dlrs vs 204 dlrs net 53600000 vs 48200000 sales 8393 mln vs 8363 mln
dynascan dynao completes management buyout
the bonds are convertible into ordinary shares of the bell group ltd at any time with the issue price a premium in the range of 20 to 25 pct above the market price of the ordinary shares at the date of issue of the bonds it said
texaco txc canada to raise crude oil postings
this summer is important cabinet affairs minister rashid al rashid said last sunday the cabinet has ratified recommendations to rationalise state spending in favour of productive sectors and reactivate the economy
but analysts say the pound has been sidelined by the first tentative test of the paris accord seen yesterday
echlin will also receive protection against the decline in price of champions stock for seven years
the principal purpose of the offer is to reduce its debt service on the 10 3 4 pct debetures increase stockholders equity and induce its lender to continue to fund
bausch and lomb bol he said was the industry leader
finance minister edouard balladur previously ruled out a reflationary program
in the past two years brazil paid 24 billion dlrs in servicing of its foreign debt while only getting two billion dlrs in new loans funaro said
gerber products co said it has given management of its cwt inc trucking subsidiary 60 days to pursue a leveraged buyout of the subsidiary
it said the missiles had been deployed at two sites and quoted a naval analyst as saying they could be used to sink a supertanker and block the strait of hormuz
commissioned banks are responsible for protecting bondholders and conducting principal and coupon payments
amoco corp an rose 1 3 8 to 83 3 4
the world has every reason to be furious with japan for not moving more quickly jardine fleming securities ltd economist eric rasmussen said
more exports and an improvement in the balance of payments situation will be required to overcome this declining trend in home remittances he said
it might also cause private lenders to become reluctant to extend more credit to the borrowing countries he said
semiconductors on the american market they have continued to dump them in third countries and that the japanese market has remained all but closed to the us semiconductors
shr 78 cts vs 51 cts net 725000 vs 451000 assets 985 mln vs 859 mln loans 405 mln vs 288 mln deposits 904 mln vs 787 mln
the statement said congress should not modify the 1985 farm bill so the law might have its intended impact of making agriculture more competitive in export markets while at the same time maintaining farm income we strongly believe american farmers now need predictability and certainty in farm legislation in order to have any opportunity of making proper production and marketing decisions the groups said
as a result of the dispute over payment of the promissory note the law suit challenging its financial data and the various investigations concerning insider trading the company said it no longer expects that anticipated declines in instrument sales in japan in fiscal 1987 will be offset by increased instrument sales in other foreign countries and the united states
west germans to mint community anniversary coin
liemandt took charge of wyly sold off its non computer businesses and decided that it would focus solely on mainframe computer software
french ski and tennis equipment maker skis rossignol said its 977 pct owned subsidiary skis dynastar sa agreed to buy canadian ski stick and boot manufacturer cfas from warrington inc a rossignol spokesman declined to give financial details but said turnover of cfas was about 100 mln french francs doubling the rossignol groups activities in the boot and stick sectors
the ec commission met in brussels on friday to see whether the 12 ec cocoa consuming nations could narrow their differences at this months meeting
the council broke for lunch and reconvenes at 1500 hrs
to fitness inc tfit year dec 31 loss
the information ministry communique said febres cordero made these statments to reporters at lago agrio at the heart of ecuadors region of jungle oilfields before returning to quito
merrill lynch mer investment revenues up
he said telephone contact had been established with the trapped miners but they could not be brought to the surface until the fire was extinguished
divi hotels nv of aruba said the exercise price of its warrants has been cut to 11 dlrs per share from 12 dlrs until september 17 and to 13 dlrs from 14 dlrs thereafter due to the impact of a recent 1500000 share offering
balladur on sunday rejected press and opposition charges that the share prices for privatised companies had been pitched too low
oil ministers from mexico trinidad and tobago ecuador and venezuela will be on hand for the fifth meeting of the informal group of latin american and caribbean petroleum exporters formed in 1983 it said
there is evidently a common interest in the matter he said
smithson said japanese banks started buying smaller and problem plagued banks in 1984
the new offer includes a gas supply inventory charge to customers who fail to buy 60 pct of their annual contract quantities and 35 pct of their summer contract quantities
ph acquisition co a unit of pratt hotel corp said its 135 mln dlrs per share tender offer for all shares of class b common stock of resorts international inc expired
finance and planning minister ronnie de mel has left for washington to discuss sri lankas request for an international monetary fund imf loan facility of up to 65 billion rupees ministry officials told 
strong demand for peru bismuth in jan may
independent bank corp ibcp regular dividend
frolov said the soviet union exported 500 mln dlrs worth of goods to the united states in 1986 and imported 15 billion dlrs worth
more worrisome for administration strategists is the possibility that congressional debt proposals essentially granting debt relief will be attached to a trade bill
meanwhile the official praised the philippine plan under which it would make interest payments on its debt in cash at no more than 5 8 pct above libor
it said initial mine output is expected to be about 150 tons of ore daily
btr nylex is a 595 pct owned listed subsidiary of britains btr plc btrxlon
sales of pharmaceutical and nutritional products were 548 mln dlrs in the first quarter up 176 pct over a year ago abbott said
within this the public sector borrowing requirement showed a repayment of 380 mln stg after a 37 billion stg repayment in january while the non bank private sectors holdings of government debt fell by about 260 mln stg after a 11 billion stg fall in january
shr 38 cts vs 47 cts net 2253664 vs 2806820 revs 5173318 vs 5873904 note 1987 qtr includes 126117 dlrs or two cts per share from gains on sale of property vs gain 29812 or less than one cent per share for prior qtr
us treasury assistant secretary david mulford said he foresaw substantial net new commercial loans to the major debtor countries in 1987
frederick florjancic vice president finance told analysts brunswick was disappointed two credit rating services recently downgraded the companys debt which stood at about 6654 mln dlrs at 1986 year end
pakistan swedish goods exchange agreed
treasury secretary james baker said that the current expansion which he noted was in its fifth year will continue in the period ahead
erk said the capital and other requirements for issuing commercial paper is too high for some turkish companies to meet
ghana will import 15000 tonnes of crude oil annually from iran under an agreement reached in tehran today the iranian news agency irna reported
johnson matthey today issued the following platinum group base prices unfabricated all us dlrs per troy ounce
the banks announcement this morning that it was willing to lend two week money at 10 pct was interpreted by the market as a sanction for lower uk base lending rates
it said the mine will operate at a rate of 626000 tons of ore per year with higher grade ore being mined in the first three years for a rapid payback of capital costs
the program is scheduled to expire april 30
if it does not fall output of the late october november december crop will decline sharply one source said
gencorp 1st qtr shr 77 cts vs 84 cts
the commodity credit corporation ccc has reallocated two mln dlrs in credit gurantees previously earmarked for sales of us protein meals to cover sales of vegetable oil and tallow to el salvador the us agriculture department said
hk shanghai bank standard chartered bank raise prime 1 2 point to 75 pct
west virginia free of two major cattle diseases
net excludes discontinued massachusetts casualty operations loss 5180000 dlrs vs gain 778000 dlrs in quarter and gain 9214000 dlrs vs gain 3504000 dlrs in year
but among his chief concerns was the weakened condition of lesser developed countries and their ability to pay for their imports
german february central bank money growth steady
solv ex said the project will cost about 260 mln canadian dlrs
the financing includes 30 mln dlrs of convertible subordinated debentures and 27 mln common shares at a price of 11 dlrs per share for a total of 597 mln dlrs wood gundy inc and gordon capital corp agreed to buy the securities
total dividend payout would rise to 1868 mln marks from 1420 mln on 1985 earnings due to the increase in the dividend and in equity capital it added
the move announced last weekend is part of the banks policy for the second half of fiscal 1987 88 ending march and is aimed at curbing excess bank liquidity
general acquisition repeated its request that gencorp remove its poison pill or shareholders rights plan
us producer prices rose 01 pct in feb after 06 pct jan rise
hanson trust plc unit to sell kaiser cement terminal and plant for 50 mln dlrs
matsunaga also advised that the prime minister should be prepared to discuss us japan economic issues
excluding energy exports the 1987 figure would be two pct it said
milastar corp mila 3rd qtr jan 31 loss
a senior banker working on the deal also said that banks are responding positively and said all the legal waivers necessary could be obtained within two months
turnover 8250 mln vs 7916 mln
it recently disclosed that it expects to report a profit in excess of 35 mln to 40 mln dlrs for 1986
institute sees wgerman output fall in 1987
ashmun said the company will be able to utilize enhanced cash flow to develop its large resource base and explore for additional reserves at a time when exploration and development costs are low and opportunities abound rather than using a disproportiaonate share of cash flow for debt service
world bank loans turkey 325 mln dlrs
a sinking fund starts in 1997 to retire 60 pct of the debentures by maturity
the acquisitions total purchase price including cost of financing the above mentioned redemptions will be about 250 mln dlrs hanson said
soybeans rallied in response to tuesdays usda report that farmers intend to plant 569 mln acres this year down from 615 mln planted last year
britains gross domestic product gdp on the average basis of output expenditure and income rose by 26 pct in 1986 after a 34 pct increase a year earlier central statistical office cso preliminary figures show
some analysts believe the new officially fixed exchange rate of eight kwacha to the dollar will hit zccms export profits
other itc creditors have brought direct actions against the councils member states and an application by the governments to strike out the first of these brought by jh rayner mincing lane ltd is to be heard on may 11
republicbank corp said it has placed 1826 mln dlrs of all intermediate and term loans to brazil on a non accrual basis as of march 31
even mediterranean countries such as italy france and greece which backed similar proposals in the past did not seem as enthusiastic now because olive oil had been added to the list of products affected
harper and row hpr to mull options after bids
notably ratings were reduced for several of the largest us bank holding companies reflecting lower asset quality and weaknesses that were specific to those firms s p said
investors will pay for the bond on may 5 1987 and the bond pays annual interest on november 5 beginning in 1988
analysts were a little disappointed by jc penney co inc jcp which started out with especially strong sales early in the month
boone pickens iii said it set a deadline of 1600 est on march 11 for its offer to acquire japan fund inc
but there are more positives than negatives she said citing reduced capacity in the domestic industry better prices and a weaker dollar which should cause steel imports to drop off slightly from last year
oper shr basic 104 dlrs vs 77 cts oper shr diluted 89 cts vs 60 cts oper net 316 mln vs 125 mln revs 5006 mln vs 1709 mln avg shrs 291 mln vs 143 mln note 1985 net excludes extraordinary gain of 1756000 dlrs or 12 cts shr basic and eight cts shr diluted
soviet tankers set to carry kuwaiti oil
the 1986 maize crop was officially estimated at 21 mln tonnes but only a fraction of this was marketed with most grain consumed by the farmers who grew it
energy analyst edward krapels said the united states should consider an oil tariff to keep us dependence on imports below 50 pct
military experts say the united states faces a dilemma in the gulf following us destruction of an iranian oil platform in retaliation for an attack on a us flagged tanker
we have had one agreement
bethlehem steel bs says liquidity adequate
we have very large projects in indonesia and we would like to accelerate their implementation katz told 
this yielded a profit of 3867 mln crowns and was reflected in catenas pre tax earnings which rose to 724 mln crowns from 204 mln in 1985
robert fildes president and chief executive of cetus corp ctuso told that squibb corp is not interested in buying cetus
canadas trade picture has brightened considerably underscoring economists predictions the sector would post a long awaited recovery this year
ferc decision could cut columbia gas cg net
the ico executive board reconvened at 1650 hours local time to hear a report from consultants on ico operations
government sources said nakasone would try to resolve growing bilateral trade friction and discuss the june venice summit of western industrial democracies
in addition to the possible sale of the amusement parks bally plans to sell a minority stake in its health club chain to the public
the two major bahrain based international banks arab banking corp and gulf international bank bsc have increased their presence in london and saudi banks are busy upgrading representative offices to branch status to allow dealing
last year the surplus which measures trade in goods and services amounted to over four pct of gnp
mexico signs 77 billion dlr loan agreement
asarco inc said it is increasing its base spot sales price for refined lead by one half cent to 2650 cents a lb fob delivered in carload lots effective immediately
he was referring to perus policy of limiting payments on its 14 billion dlr debt to 10 pct of its export earnings
many farmers like to feed lighter weight cattle and grain supplies are large he noted
conger said exploration for precious metals may be slightly higher than last years spending of 177 mln dlrs while oil and gas exploration spending will be slightly less than last years 96 pct
enserchs stock closed at 22 1 2 last night on the new york stock exchange
fed sets 15 billion dlr customer repurchase fed says
its caused by a downturn in the commodity price for fertilizer whether its potash fertilizer nitrogen fertilizer or whatever
philippines heads confidently into debt talks
aldershot resources ltd said it signed an interim agreement to acquire 100 pct of the outstanding shares of intracoastal refining inc of conroe texas
he only recommends one stock however inland which is modernizing steelmaking operations to make them more efficient
the debentures are convertible through april 28 into ryan common stock at 3050 dlrs per share
de groote said the company will gain about 138 mln dlrs in cash by august 31 from the exercise of warrants
the dollar straight sector of the eurobond market ended lower after another nervous days trading with many operators keeping to the sidelines ahead of tomorrows us trade figures for february dealers said
japanese corporations have been actively setting up their financing companies in london suggesting they increasingly are engaging in not only fund raising but management there dezuka said
the sale price was not disclosed
coeur dalene mines corp couro 3rd qtr net
in addition debate on the proposal could open up the whole farm bill dole said
the businesses involved in the deal provide products to hotels restaurants and other parts of the food and beverage industry
towle has not yet submitted a reorganization plan under chapter 11
shr 64 cts vs 52 cts net 56900000 vs 46400000 sales 131 billion vs 113 billion avg shrs 882 mln vs 893 mln nine mths shr 209 dlrs vs 159 dlrs net 185900000 vs 141300000 sales 384 billion vs 336 billion avg shrs 889 mln vs 891 mln note 1986 period ended february 23 prior year amounts restated to reflect discontinued furniture operations earnings include gains from discontinued operations of 15 mln dlrs or two cts a share in the 1986 quarter and gains of 85 mln dlrs or 10 cts a share in the fiscal 1987 nine months vs 30 mln dlrs or four cts a share a year earlier
neil springer currently president and chief operating officer of navistar international was named chairman of the new subsidiary
moodys downgrades texas air affirms the eastern air lines unit
euro clear told exxon that it has examined to its satisfaction all the notes at the depositary and is checking the authenticity of new deposits of the notes as they enter the euro clear system
the ministry had previously put the january and december indices at 1016 and 1047 respectively
varian var in talks with philips electronics
now that west germany no longer ran large external deficits other concepts were needed for monetary policy
this reflected outflows of 1026 billion francs through operations of the french exchange stabilisation fund counterbalanced by a gain of 135 billion francs resulting from the quarterly adjustment in the value of dollar deposits held with the european monetary cooperation fund fecom but most of the decline reflected a 3390 billion franc deficit that france built up during the month with fecom as a result of using very short term financing instruments
preussag said its domestic crude oil production fell 40 pct to 94400 tonnes in 1986 while foreign oil production rose to 182900 tonnes from 174500 tonnes
australian reserves fall in february
the deficit for the eight months to the end of february was 153 mln dlrs as against 1057 billion dlrs in the same period a year ago
nippon life seeking tie with us securities house
vneshtorgbank seeks 200 mln dlr loan
opec has reaffirmed its commitment to fixed crude oil prices of around 18 dlrs a barrel and an overall output ceiling of 158 mln barrels per day bpd to defend prices its president rilwanu lukman said
national sanitary supply co nssxo 3rd qtr
burmas debt service ratio will have fallen to 488 pct in the fiscal year to end march 1987 from 50 pct in 1985 1986 the official council of peoples inspectors cpi reported
4th qtr ended march 31
the unaudited income for the period was 1014000 or 51 cts per share
dan glickman d kan chairman of the house grains subcommittee has introduced a bill which would freeze wheat and corn loan rates for the 1988 crop at the current 228 dlrs and 192 dlrs respectively saying it would save 500 mln dlrs
fed says us discount window borrowings 361 mln dlrs in april 8 week
joint action said vital to boost world growth
trade minister mike moore told his colleagues at a welcoming ceremony before two days of talks here that great progress had been made in preparing for the negotiations which must not be sidetracked
american vanguard corp amgd year net
oper shr loss 22 cts vs loss 20 cts oper net profit 1013000 vs profit 2219000 sales 770 mln vs 740 mln avg shrs 5107401 vs 5361793
he had no comment on whether cyacq plans to withdraw its current offer which is scheduled to expire midnight on march six
one could make a case that the fed is firming but it probably isnt said william sullivan of dean witter reynolds
a reagan administration official said the paris agreement last month was the main reason markets were calm
cigra inc of chicago won a contract to supply 33000 tonnes at 9689 dlrs per tonne for november 25 december 10 delivery
financial holding company nord est is issuing a 3929 mln franc 625 pct five year domestic bond convertible into shares an announcement in the official bulletin balo said
eurodollar bonds closed as much as a full point lower as the dollar fell to a post war low against the yen and interest rates on us treasuries rose almost to eight pct
if you dont get those seven billion dlrs there is no plan
argentine grain producers again reduced their estimates for the total yield of the 1986 87 soybean crop which will begin to be harvested in mid april trade sources said
shultz warns asean of looming trade problem
he expects real gnp which grew at a 11 pct rate in fourth quarter 1986 to expand at a 33 pct rate this quarter and 35 pct next quarter
lawson said the low outturn of the psbr in 1986 87 is chiefly attributable to the remarkable buoyancy of non oil tax revenues in general and the corporation tax paid by an increasingly profitable business sector in particular on oil prices lawson said he was sticking to his earlier assumption that north sea crude prices will average 15 dlrs per barrel in calendar 1987
the australian stock exchange ltd asx today took up the responsibility for administering a new coordinated market made up of australias six former exchanges now operating as subsidiary trading floors
national bank issues mortgage backed securities
entertainment marketing inc em said it has made an offer to the board of crazy eddie inc to acquire all outstanding shares of crazy eddie inc for eight dlrs a share in cash
us home uh sees best first qtr since 1983
amcast said newmans kendallville indiana plant is one of the countrys largest producers of gray iron castings for the automotive and commercial air conditioning and refrigeration industries
witco wit to offer convertible debentures
it earlier announced a 61 mln stg rise in pre tax profit to 248 mln stg for the year to december 28
it also wants lower interest rates on its foreign debt
the commission had said there was insufficient economic integration between the pork production industry and the pork packing industry to justify extending the duty on live hogs to fresh chilled or frozen pork
us fhl banks sets 670 pct 710 pct 765 pct rates on 255 billion dlr offer
the deal is subject to prior approval by the federal communications commission the company said
memotec data inc said it completed the previously announced 4883 mln dlr acquisition of teleglobe canada from the federal government
us industrial capacity use rate 812 pct in september unchanged from august
the bank official said the broader m 2 measure which measures notes and coins in circulation plus savings and time deposits rose a provisional 97 pct to 14088 billion pesos at the end of december from 12841 billion a month earlier
stone container corp said it signed a definitive agreement with a group of banks establishing a total of 11 billion dlrs term loan and revolving credit facility
dome responded to the statement by suspending discussions with transcanada in order to pursue talks with other unidentified parties
sainsbury bought about 21 pct of the stock in 1983
ghana cocoa purchases still ahead of last year
the company which announced a net non consolidated profit of 531 billion francs compared with 282 billion in 1985 said its current profits rose by 19 pct last year without giving further figures
balladur maintains 1987 french inflation target
chartered bank general loans outstanding rose 500 mln dlrs to 12554 billion dlrs
there is quite a list of industries that utilize fructose
note attributable net loss is after tax 1004 mln dlrs vs 1859 mln interest 8236 mln vs 6594 mln depreciation 6477 mln vs 3574 mln and minorities 357 mln vs 755 mln but before net extraordinary loss 122 mln vs loss 391 mln
but shareholders sued and a court blocked completion of the offer
the arbitragers said tender offer documents show that hutton does not need to use its cash in the transaction and will emerge with a giant majority equity interest in purolator
each bond will be convertible on a one for one basis for a 8 1 2 year 850 pct bond priced at 9876 pct redeemable at the end of its life
dec 31 end shr loss 126 dlrs vs loss six cts net loss 114 mln vs loss 400000 revs 125 mln vs 4049000 notel company changed fiscal year to december 31 end
the company said the offering will only be made by means of a perspectus to be filed as part of the registration statement
uk may adjusted m3 rises provisional 21 pct m0 up 05 pct bank of england
shr 62 cts vs 26 cts net 2312000 vs 944000 note 1987 includes five ct shr charge from loan loss provision
cotton and rice are pakistans main exports which have been handled exclusively by state corporations since early 1970s
qtly div 10 cts vs 10 cts prior pay april 15 record april one
shr 39 cts vs not given net 8801000 vs not given revs 332 mln vs not given
light louisiana was also raised 50 cts to 1935 dlrs barrel
chavin also said if he takes control of the firm it could result in delisting meyers from the new york stock exchange
but he added the gillette board has to be careful
but no longer
plastics organic chemicals polyurethanes and coating raw materials all developed well it said
usda estimates australia wheat crop
it said in exchange it will receive about 23 mln dlrs in cash rights to acquire 22 acres adjacent to the philadelphia international airport and an option to acquire the development rights over the gallery ii shopping mall on market street in downtown philadelphia
sources who attended the g 10 conference this morning said the reference to the latest g 7 agreement was especially added to the brief communique because currency stability will benefit all the g 10 members
shr 76 cts vs 51 cts net 5952000 vs 4374000 avg shrs 7837511 vs 7446356 note includes gains of 13 mln dlrs vs 239000 dlrs from benefit of tax loss carryforwards
first interstate bancorp files shelf registration for 15 billion dlrs in debt securities
industrial equity to make proposal to calmat czm 
sonat snt unit files for debenture offering
it said the record date for the dividend on its four pct cumulative preferred stock has also been changed to march 20 from march 13
in addition 260 mln bushels of grain that have been redeemed from ccc inventory through certificate exchanges would have remained in the goverment inventory he said
encouraged by an amnesty for past illegal exports of capital and the lifting of most currency controls money has flooded into the paris stockmarket from abroad helping to lift the market 57 pct last year and another 125 pct since december
disease puts zimbabwe beef exports in jeopardy
the company also said it will no longer actively seek out potential merger partners but will respond to serious inquiries
if the dollar continues at present low levels 1987 sales will again be below the previous year although in volume terms they are unchanged from 1986 hoechst said
it said that the accumulated inflation for the first three months of 1987 was 185 pct compared to 154 pct for the same period last year
beryl sprinkel chairman of the white house council of economic advisers said he sees growing but incomplete evidence that us export volumes are finally strengthening in remarks prepared for a speech today in los angeles sprinkel said the decline in the dollars value since 1985 had largely restored us cost competitiveness in world markets and appeared to signal an end to us trade imbalances
baker said in a television interview aired here yesterday we dont have a target for the dollar he declined to comment on what might be a desired level for the dollar saying we really dont talk about the dollar he said protectionism was becoming extremely strong in the us in response to widening us trade deficits and import barriers in other countries
it said proceeds have been placed in escrow pending the outcome of talks with lenders
the cuts follow nearly two months after the bundesbank reduced leading interest rates far longer than the usual interim period
but the japanese minister for post and telecommunications was reported as saying that he opposed cable and wireless having a managerial role in the new company
conagra inc 3rd qtr shr 36 cts vs 31 cts
were not seeking a universal solution he said
denominations would be 500000 and one mln dlrs and similar amounts in sterling and other currencies
careplus inc said it will seek shareholder approval of its proposed acquisition of certain assets and assumption of certain liabilities of professional care inc pci in connection with the acquisition shareholders will be requested to approval the merger of careplus into its newly formed delaware subsidiary careplus said
wendys the third largest fast food hamburger chain in the us lost about 11 pct in same store sales last year analysts said
undersecretary of state michael armacost will visit tokyo next week for meetings with high level officials that will include talks on the growing trade row over japanese semiconductor electronics products
the industry has grown from 16 to 35 pct over the last five years based on earnings per share said jeffrey klein an analyst with kidder peabody and co
former nz premier calls for cheaper currency
the financing is being arranged in the name of bp international and bp north america
these moves to cap interest rates followed a meeting between poehl finance minister gerhard stoltenberg and us treasury secretary james baker monday in frankfurt
sumita told nakasone he did not feel a rate cut was appropriate and nakasone expressed his understanding the sources said
brown forman bfd files 200 mln dlr debt offer
period ended february 28 oper shr profit six cts vs loss 15 cts oper profit 474000 vs loss 1175000 revs 17946000 vs 9271000 note current shr and net exclude tax gain of 513000 dlrs or five cts share full name canadian satellite communications inc
the group which holds 2291210 taft common shares said its members may buy more shares of taft common stock or may decide to sell some or all of its stake
approval would pave the way for us commercial banks to underwrite and trade equities in japan under their own names
antwerp lagos 12000 mt bagged sugar 750 750 try liner discharge 5 20 4 a c e d and f man
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
a spokesman for the european community commission defended the controversial plan for a levy on oils and fats saying that consumers would have to help alleviate the surplus problem by paying the proposed tax
in a separate statement the ministry said last weeks privatisation offer of 107 mln shares in banque du batiment et des travaux publics btp was 65 times oversubscribed
the world bank has lent indonesia 107 billion dlrs over the past 20 years
but we have indicated to the indians that we stand ready to assist in whatever way they deem most valuable he said
in an attempt to hammer out an agreement solomon today met fumio watanabe the senior keidanren officer trying to arrange the merger
he expects the company to earn nine cts a share for each of the final two quarters of 1987
when you hear code words like structural adjustment and tightening your belt
anchor glass said the conversion decreased its total debt and increased stockholders equity by about 94 mln dlrs and increased common shares outstanding to 13902716
but moodys noted that after the major asset writedown and divestiture progress achieved by standard oil in 1985 fewer non petroleum assets are available for sale
the first was made last october 23
freeing of stocks through certificates is making us grain more competitive on world markets it said
aegon issues 200 mln guilder bonds with warrants
under the decree if baker is unable to find acceptable buyers within a specified period of time after the decree is approved a federal trustee would become responsible for finding a buyer
federated group inc fegpo 1st qtr loss
i am speculating that the new product could be an electronic still camera referring to a camera that records its images on magnetic disks as opposed to conventional film
its a good thing and we will continue with deregulation in trade industry and licensing of new businesses asked whether the question of private capital exports from indonesia was discussed central bank governor arifin siregar expressed confidence that any drain of capital abroad would only be temporary
closing had been scheduled for march 16
there is no consensus so far among industrial countries on an agreement providing debt relief for the worlds poorest nations a senior us treasury official said
the form of the transaction has not yet been determined it said
proposed offerings recently filed with the sec
the wells the biggest onshore well in the country are on the banks of the river uruc in the amazon basin 3600 kilometres 2250 miles north of brasilia
in a newspaper advertisement the company said the offer and withdrawal rights expire april nine unless extended
gabelli group inc said it and two subsidiaries held a total of 295800 decision capital fund inc shares or 148 pct of the total outstanding
both parties also agreed to adjourn pending litigation they have against one another it added
in this way west germany had made its contribution to economic stability stoltenberg added
the liquidity is the reason for the recent boom of stock exchange prices the bank official said
he called for speedier geolog prospecting across the country to spur the oil industry
m 1 money supply rose 413 pct to 84921 billion won in february from january when it fell 782 pct from december
bank economists said the rise in the february trade surplus reflected an improvement in the terms of trade as well as seasonal factors
the move is subject to approval of the federal cartel office and supervisory boards of the companies involved
economic spotlight brazil debt deadlines loom
if we ask ourselves whether it is perhaps inevitable that we keep pushing each other to the brink of actual trade war then i think the answer is probably yes he said
the planes dealt accurate and effective blows to both maritime targets before they returned safely to base a military spokesman told the iraqi new agency ina
shr loss 29 cts vs loss two cts net loss 5168000 vs loss 410000 revs 465 mln vs 294 mln avg shrs 176 mln vs 171 mln note net includes tax credits of 3938000 dlrs vs 394000 dlrs
i want a fair crack of the whip for cable and wireless as i want a fair crack of the whip for britain generally in trading relations howard said
amex says bear stearns bought specialist unit
resorts said the offer from ksz calls for a merger of resorts with ri acquisition co inc a newly formed delaware corporation
previously the department said inventories fell 05 pct in december
kenya has signed an agreement with british and german interests to establish a shipping line that will handle 40 pct of the countrys external trade sources close to the deal said
bankers trust bt raises broker loan rate
the ef hutton group subsidiary is supplying 279 mln dlrs in so called bridge financing for the transaction
sis corp said it has completed the acquisition of its franchisor sisters international inc from wendys international inc for 145 mln dlrs in stock
x includes imports
lanston and co inc
the commerce department reported today that new orders for durable goods in february jumped by 57 billion dlrs a six pct rise to 1012 billion dlrs
fees comprise 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum and 1 1 4 pct for selling
under the transaction american centennial will receive a cash infusion of 200 mln dlrs including the settlement of tax sharing agreements with beneficial corp beneficial said
it said rc mills president and general manager of its exploration and producing southeast inc has been named vice president and general manager of the new operation reporting to pj hoenmans president of its exploration and producing division
the group had said it would consider breaking up allegis into its airline hotel and vehicle rental components if it succeeded
net earnings for the full year ending october 31 should be in the ball park of some analysts estimates of 16 mln dlrs to 19 mln dlrs richard jacob day chairman and chief executive officer said
ibm ibm rebound seen by bernstein analyst
once that examination has been completed and even in the absence of a willingnes of sfsp to negotiate kcsi will make an offer in writing said the company
it said there is significant potential for the discovery of additional ore
kirnan raised his earnings estimates slightly today in part in reaction to the announced buyback and sees gm earning 565 dlrs this year and 975 dlrs in 1988
weston said earnings for the firstg quarter will be about flat due to the recent substantial addition of management and technical staff and an expansion in the southeastern and northwestern us the company said full year earnings and revenues are expected to be higher
fruit of the loom inc said it is offering 60 mln dlrs of 6 3 4 pct convertible subordinated debentures due march 2002 and 250 mln dlrs of 10 3 4 pct senior subordinated notes due july 1995
a published report said edelman and dominion jointly acquired a stake in burlington and were weighing a takeover offer
local currency m3 rose 06 pct to 28211 billion dlrs from january and 168 pct on the year
amoco canada is a unit of amoco corp an which has made a 52 billion dlr acquisition offer for dome
but us trade representative clayton yeutter said yesterday on us television that the us is willing to drop the tariffs if japan shows a clear indication that it will open its markets to us goods
the company said for the first quarter of 1987 earnings were about 48000 dlrs up from 13000 dlrs or nil per share in the year ago period
in a filing with the securities and exchange commission industrial equity pacific did not disclose details of the proposal but said it would be delivered to calmat in the near future
intel corp intc offering of 75 mln dlrs of senior subordinated notes due 1994 and offering of 15 mln shares of convertible cumulative exchangeable class b preferred stock series c both through merrill lynch capital markets
it was the highest pace for starts since april 1986
canada building permits rise in november
tie communications inc tie holds 65 pct interest
it wants to remain independent he said and has implemented a staggered board of directors system
should britain decide to act against japanese financial institutions it would most likely focus on the smaller rather than larger ones to minimise any risks to its role as a global business centre government sources said
last week dixons said it won out over rival bidders for cyclops after getting 54 pct of cyclops oustanding with a 9025 dlr or 384 mln dlr tender offer that expired march 18
the bank of england said it had lent one billion stg to the discount market for fourteen days at 10 pct
keycorp said it has filed with the securities and exchange commission for the offering of 75 mln dlrs of subordinated capital notes due march 1 1999
the payment date is may 7
most recently when prices of perpetual floating rates notes frns suddenly plunged most market makers abandoned the securities altogether leaving investors stuck with about 17 billion dlrs worth of unmarketable securities on their books
world zinc stocks fall 7700 tonnes in february
registered shares were less affected slipping five to 165
gnb joins in leveraged buyout of french unit
later today the higher labour tribunal in brasilia is due to rule on whether the seamens strike is legal
the act is now awaiting parliamentary ratification
knoll to buy american savings aaa shares
canadian liquid plus short term assets fell 854 mln dlrs to 3540 billion dlrs and total canadian dollar major assets of the chartered banks fell 118 mln dlrs to 22120 billion dlrs
for the third quarter ended january 31 heinz earned 747 mln dlrs or 55 cts a share up from earnings of 632 mln dlrs or 46 cts a share for the year ago quarter
morris owns 798 mln b ordinary shares or 324 pct
fees were not disclosed but a wako official confirmed the deal was a targetted issue
oman links its currency formally to the dollar while kuwait pegs its dinar to a trade weighted basket devised by itself
the ministry will abolish the minimum rate and introduce a market related one to resolve the problem and stimulate the domestic economy they said
no decision on us action is expected at least until after documents on the ruling are received here later this week
shr 32 cts vs 40 cts net 882000 vs 1109000 sales 661 mln vs 603 mln nine mths shr 113 dlrs vs 90 cts net 3065000 vs 2446000 sales 1981 mln vs 1785 mln
he told a press conference the government planned to increase investment speed up the opening of the local market to foreign imports and gradually adjust its currency to hold the surplus at a proper level but he said the government would not allow the won to appreciate too much in a short period of time
jacobson jcbs votes split increases payout
but a us official disputed the assessment that with darman gone baker would abandon international initiatives
in addition accruals are being made for costs associated with the companys reduction in its sunnyvale work force
traders recently returned from west africa say some producers there are dismayed by the ineffective action so far by the international cocoa organization icco buffer stock manager on buffer stock purchases
within this total lending to consumers fell by 60 pct and lending to businesses declined by 50 pct
the plan to reduce the fiscal budget is a pillar of nakasones fiscal reconstruction program
he told journalists these estimates were unchanged at the end of february from the previous month while export forecasts were lowered to 45 mln tonnes from 576 mln in 1985 86
while wanting to make the report as explicit and detailed as possible they said the political realities might force them to water down some of the committees recommendations
note company was created in may 1986 by the merger of royale belge vie accidents and royale belge incendie reassurance vie accidents shareholders received eight new shares and incendie reassurance shareholders six for every share held in the old companies
under current programs freight costs can be covered only for export sales of us breeding animals
baldrige predicts solid us housing growth
given the potential volatility of this market one which has been conclusively proved by the events of the last days senior management are now duty bound to revise the set of parameters within which they as market makers are now to work commented one senior source at a leading uk investment house
there has been speculation venezuela would demand a cut in its 7 8 pct spread but public finances director jorge marcano said here there were no plans to renegotiate terms
central bank general manager hector neyra told reporters many of the credits were 90 day
china comes third with 58000 bpd
oreilly who declined to make a specific projection said the food company is stronger than at any time in its 118 year history last week heinz reported third quarter earnings rose to 55 cts a share from 46 cts a share
but i dont expect any convincing measures he said
production of natural gas liquids in 1986 declined slightly to 304178 bpd from 316310 said the report carried on the official saudi press agency
the 1988 agriculture budget will have to be cut by an additional one to two billion dlrs the chairman of a key house agriculture subcommittee said
financial statements from canadas major oil companies culminating with dome petroleum ltds 220 billion canadian dlr 1986 loss reported this week painted a bleak picture of last years results analysts said
index of economic spotlights see page ecra but no official announcement has yet been made raising eyebrows in west germanys business community
the agency cited potential benefits of chryslers proposed acquisition of american motors corp amo to its business position and marketing and distribution capabilities
freedom savings and loan assn frdm year end
the agreement calls for a two mln dlr payment to inkey for the distributorship
it described early development of the new main crop as patchy
we have been recommending the stock since it was in the 50s but we reiterated today because of expectations of strong earnings momentum its benefits from the lower dollar and anticipation of nice gains in margins merrill lynch analyst charles ryan said
conrac corp sait has started negotiations with several interested parties on its possible acquisition
the number of goods producing jobs fell 68000 in march while service producing jobs rose 232000 to bring the total jobs in the departments survey of businesses to 10203 mln in march
gardner is an official of kelso management a firm associated with fidelity international ltd
in recent months dome has normally moved by only a few cents per day
singapore m 1 money supply up 37 pct in december
campbell red lake mines ltd crk 4th qtr net
italy has over recent months announced a series of deregulation moves in response to a european community directive aimed at creating a genuine common market in goods services and finance by 1992
much of the momentum was derived from the futures market where a high 33074 lots were traded in the long gilt june contract
business and banking sources said another reason for suspending the auction was that the central bank was low on foreign exchange and was 10 weeks behind in paying successful bidders
the following table lists the rate of payments in cts per lb to growers and the quantity covered in short tons recoverable raw sugar under the administrations proposal to compensate sugar growers with targeted payments
the white house has said it would consider the option although it was generally opposed to any revisions in the new tax code
gao underestimated this net loan activity amstutz said
in the companys newly released annual report and 10 k filing gulf states said its bank lenders had notified the utility last month that no additional credit would be granted
it said this ruling was a key condition in completing the deal
shares of insurances on the london stock exchange fell across the board in a generally weak market
domestic sales were 39 pct down at 3267 units from 5397 while sales abroad rose five pct to 22002 from 21017
the chase economist also said commodities markets were depressed and generally did not appear very promising for a country like brazil where pure commodities account for some 50 pct of exports and in 1986 had a total value of around 23 billion dlrs
magellan corp said its shareholders approved the merger of magellan with balzec investments inc a privately held company based in dallas
it is a diversified agriproducts company which produces and sells industrial and consumer flour flour based products and baked goods
bank of japan governor satoshi sumita told a press conference on wednesday that the central bank does not have any intention of easing credit conditions
the agency said this flat trend is explained by the projected seasonal consumption decline in the second quarter of the year which offset a reduction in stocks
i would think that the debtholders would want to entertain any and all offers for dome gobert said
lower production of coconut and palm oils could lead to a decline in vegetable oil stocks this year despite growing supplies of oilseeds senior oilseeds analyst for merrill lynch capital markets mario balletto said
ipswich is one of 13 sugar factories operated by british sugar
he attributed the dollars fall in recent days to special factors in particular selling by japanese investors ahead of the march 31 end to their fiscal year
wallin said our objective is to get a hold of new products and start building market share if we have to beg borrow or steal to get into new markets in the past medtronics pacemakers have been plagued with a number of problems leading to product recalls
the perception of japan in the us congress is very bad one official told 
milan share dealers also said fiat stock had been under pressure since the placement
r steven lutterbach chairman said net income for 1986 was adversely affected primarily due to lower operating margins at the companys western environmental subsidiary and to an increase in bad debt reserves
we believe that our two companies provide an excellent fit with each other and that the combination will enable each of us to better serve our existing customers and meet the challenges of the future emerys chairman said in his letter
the figures showed its gold foreign currency and other external assets rose to 4151 billion francs from 413 billion mainly reflecting a rise to 1167 billion from 1147 billion in foreign exchange holdings
the improved export performance was led by electrical and electronic products textiles footwear clothing processed food timber chemical and rubber products he told a news conference
fichtels other principal shareholders are commerzbank ag cbkgf with 3501 pct and salzgitter ag islgf with 2498 pct
cavaco silvas minority social democratic party psd was toppled in a parliamentary censure vote by left wing parties
the tender offer is set to expire march 16
mthly div 65 cts vs 65 cts prior pay april 30 reord april 15 note franklin california insured tax free income fund
but they said that if it had not been for a large one day net miss in the feds reserve projections the higher borrowings target would probably have been reached
us officials have urged japan and west germany to stimulate economic growth in their countries a move that could boost us exports and relieve trade protectionist pressures in the united states
it will buy back at par 33 mln dlrs of its outstanding 10 pct bonds of 2016 and 14 mln dlrs of its outstanding 12 7 8 pct bonds due 2013
the issue is collateralised for 140 to 150 pct by us government and federal securities and cash to aim for a aaa listing a nikko official said
north sea oil and gas revenues rose 34 pct to 326 billion crowns in the january to july period compared with 315 billion in the first seven months of 1986
group tendering for gencorp says it holds about 98 pct of gencorp common
repeated bombings of a vital pipeline from the cano limon oilfield to the caribbean then led to a loss of 51000 barrels of crude
the february incomes rise was the largest monthly increase since a 12 pct rise in april 1986 the department said
weyerhaeuser co wy shelf offering of up to 250 mln dlrs of debt securities in addition to another 100 mln dlrs of debt securities already registered with the sec but unsold
brown transport co inc said its board declared an initial quarterly dividend of four cts a share payable april 10 to stockholders of record march 31
the company currently has about 39 mln shares outstanding
iowa beef processors inc is lifting a lockout at its dakota city nebraska processing plant and plans to resume operations march 16 united food and commercial workers ufcw union spokesman allen zack said
cohen sees an average price of 425 dlrs and another analyst michael pickens at yorkton securities puts the average at 450 dlrs with a possible spike above 500 dlrs
oct nov midmississippi dubuque south l h nov clinton south 170 pct bid 177 1 2 offered no comparison
minorities 800000 stg vs same
the one dlr increase brings west texas intermediate wti the us benchmark crude to 1700 dlrs a bbl the company said
each has a circulation of about 160000 copies
the bank of england said it has revised its estimate of todays shortfall to one billion stg before taking account of 646 mln stg morning assistance
even today it pressured the market
i dont pay attention to the cost of living said cheryl richmond a 25 year old canadian teacher of english in tokyo
it said the sale of the shoe divisions and the previous sale of its ski boot businesses will result in an unspecified net gain
1987 qtr also includes non recurring expense 150000 for discontinued operations and consolidation of four distribution service centers
she said market forces have a major influence on exchange rates and said she did not know the right value for the dollar against the yen or the mark
the bank also used its extraordinary earnings to continue a high level of risk provision christians said
in addition the 60 cent limit can be increased to 90 cents a lb if the first two limited months both make limit moves in the same direction for two consecutive sessions according to the csce announcement
burns has resigned as vice president of manufacturing
cogeco buys fm station plans share issue
standard and poors corp said it downgraded canadas province of saskatchewan
butler manufacturing co said it signed a letter of intent to purchase naturalite inc a designer of skylights
its a worthwhile activity from their standpoint because these debts are not going to go away in the next year or two he said
youre talking about a 50 pct increase in crude oil prices but i think that time is coming and weve got to be prepared mcmillan said
shr four cts vs three cts net 4505000 vs 4493000 revs 233 mln vs 214 mln
koo bon yong an aide to kim said south koreas foreign debt had been expected to fall below 40 billion dlrs by the end of 1987 against the initial forecast of 418 billion and 445 billion dlrs at end 1986
federal funds which averaged a high 635 pct on friday opened at 6 7 16 pct and traded between there and 6 1 2 pct
bbc ag brown boveri und cie bbczz said it will omit dividend in 1986 for the second consecutive year
currently while there is an implied obligation on the part of firms to make markets in issues they underwrite there is no formal obligation to do so
private individuals and corporations do not engage in options trading now due to west germanys civil and exchange laws which define losses made in futures and options business as gambling losses which investors need not pay back
they said the funds rates softer tone may indicate that the need to add reserves in the current bank reserve maintenance period is smaller than previously estimated
wall street sources have identified the buyer as dart which earlier this year was thwarted in a takeover attempt for the now privately held supermarkets general corp
a group including members of the sobey family of nova scotia and empire company ltd said it raised its stake in nash finch co to 442498 shares or 86 pct of the total outstanding from 374498 shares or 73 pct
american motors corp said it is extending and enhancing its buyer incentive programs on renault alliance encore and gta models and jeep comanche cherokee and wagoneer to april 10
the iranian spokesman was quoted by tehran radio as saying the us was trying to build up its military presence in the region
thl holdings inc year jan 31 net
coleco said it changed from a single product company to a more diversified organization through four major acquisitions last year
evans said there were plenty of examples where targeted approaches to oil industry taxation had produced good results in recent years
qtly div six cts vs six cts prior pay april two record march 18
creditors seek swift rescue package for japan line
he said the countrys balance of payments was now projected at a surplus of about 12 billion dlrs in 1987 compared with a surplus of about 11 billion dlrs in 1986 and a previous projected deficit of 12 billion dlrs this year
qtr ended dec 31 shr nil vs nil net loss 59922 vs loss 357203 revs 714263 vs 926964
yesterday boyd jefferies chairman and founder of the brokerage firm bearing his name resigned from the firm and said he would plead guilty to two felony charges for breaking securities laws
dealers said dollar trading was very quiet over the european morning with operators made wary by todays meeting of the group of five finance ministers and central bank chiefs ahead of the full imf world bank session in washington
technically analysts said there has to be a difference between the secured loans rate which applies to lending under the credit quota and the tariff on special advances which add extra liquidity to the money market
at end december 1986 the company had 417100 stockholders
cocoa deal seen positive but no price guarantee
asked about criticism of the takeover attempt voiced by some municipal officials in akron ohio where gencorp is headquartered reed said the plan of the partners offers long term growth for ohio he noted that the aerospace business slated for divestiture under the partners plan is located in california
the securities wil be listed on the london stock exchange and will be available in denominations of one mln yen each
bangladesh will receive a grant equivalent to 47 mln us dlrs from the netherlands during 1987 under an agreement signed here saturday officials said
a glut of feed meals makes other oilseeds such as soybeans less desirable because they would add to already large meal stocks
india in countertrade deal for malaysian palm oil
the agriculture ministry said it set japans beef import quota for the six months from april 1 at 93000 tonnes up from 83000 in the second half of 1986 87 and 85000 a year earlier
the state government recently introduced a new workers compensation act which would cut the cash benefits to injured workers by up to a third
qtly div 45 cts vs 45 cts prior pay march 31 record march 20
machinea leaves for new york tomorrow with treasury secretary mario brodersohn to complete argentinas team at negotiations with the steering committee for a 215 biilion dlr loan to see the country through 1987
the company did not elaborate further on financial terms
the three year loan carries interest at 1 2 point over three or six month singapore interbank offered rate sibor the lc facility costs 10 basis points over sibor and the bonding facility 50 basis points
a counter proposal from creditor banks to argentinas request for rescheduling its 50 billion dlr foreign debt was faulty an argentine observer at negotiations said
some 280 billion dlrs in bids for six month bills were received including 780 mln dlrs in non competitives
if the elections go against the ldp nakasone may have to resign early shiratori said
macmillan bloedel ltd said shareholders authorized a previously announced three for one stock split applicable to holders of record april nine
the high water was expected to recede within two days to below levels at which the restrictions come into force
wtc has granted pittston an option to buy wtc shares equal to 185 poct of its outstanding stock
louis by april 30
royal gold inc said it has signed two agreements in principle to acquire the stock of two transwestern mining co units for 11 mln shares of royal gold common stock
when repayment finally occurs it is not in cash like an ordinary zero coupon bond
following is the text of a statement by the group of seven the us japan west germany france britain italy and canada issued after a washington meeting yesterday
uk retailers expect consumer spending to accelerate in march after a disappointing increase in february according to a monthly survey by the confederation of british industry cbi fifty nine pct of the 325 retailers questioned for the latest distributive trades survey expected sales to be higher in march than they were in march 1986 with only six pct expecting lower sales
number of shrs outstanding at sept 30 1987 was 16744
jim walter jwc busy owens corning ocf plant
cuba suffers from run down plantations harvesting problems and poor processing facilities more than from low world prices since much of its output is sold to eastern bloc countries under special deals
the sources said finance undersecretary ernest leung and deputy central bank governor edgardo zialcita left new york after ongpin and central bank governor jose fernandez started talks with the banks to put finishing touches to the accord
brazil has no set coffee export targets ibc
asked by reporters if he would close the us bases in greece in the event of war papandreou replied obviously and perhaps even before the war
the split is subject to approval of the increase in authorized common shares it said
100 21 francs per 50 franc nominal participation certificate vs 20 group turnover 836 billion francs vs
thai coffee production is projected to fall to about 25000 tonnes in the 1986 87 oct sept season from 28000 the previous year
corroon and black cbl complete acquisition
rubber producers consumers start new pact talks
exercise requiring one days notice must be for a minimum of 100 warrants through one currency only
mark resources to sell securities
gm to repuchase up to 20 pct of 166 dlr par value common by end of 1990
fathi projects asarco will earn one dlr in 1987 and from three dlrs to 325 dlrs in 1988
it also said it expects the relationship to extend to selected projects involving american express shearson lehman and nippon life in key financial centers of asia and other regions and to future personnel exchanges
however the bass family has not indicated support one way or the other for his offer he said
wilson said in the current 1988 fiscal year higher than anticipated spending particularly in farm income support programs will be offset by higher than anticipated revenues
the bond will be issued in denominations of 1000 and 10000 marks
the selling concession is one pct while management and underwriting combined pays 1 2 pct
moodys investors service inc said it affirmed the long term debt ratings but cut the commercial paper to prime 2 from prime 1 of avco financial services inc a unit of avco corp
stone sto splits stock raises payout
britain and denmark which assumes the ec presidency on june 30 have led the opposition to the measure
the junior subordinated discount debentures have a maturity of 20 years and are entitled to a sinking fund commencing in the 16th year designed to retire 60 pct of the issue before maturity
revising the definition of sample grade by adding a limit of 10 live or dead insects per sample
reagan says us must do more to lessen reliance on foreign oil
the bass group said it had talks with other taft stockholders and members of taft management about participating in a group to acquire control
futures on the government debt securities of japan canada and great britain can already be marketed in the united states under a designated exemption issued by the sec
jp morgan and co bankers trust new york corp btn manufacturers hanover corp mhcn and chemical new york corp fnbfn have asked for securities business licenses
martin marietta closed and mothballed the smelter in 1984
uk money market given 25 mln stg late assistance
it cited chryslers proposed acquisition of american motors corp amo moodys said it would also review americans b 1 preferred stock for possible upgrade
im hoping we will have the best year in our history profit wise he told reporters following a speech at the american institute of chemical engineers meeting
sama offers a total 19 billion riyals in 30 91 and 180 day agreements to banks in the kingdom each week
argentine inflation rose 65 pct in february
ame president c
the company said the special committee of its board plans to meet later today to consider this offer and the one submitted march one by mcv holdings inc a spokeswoman was unable to say if the committee met as planned yesterday
local investment also has stagnated with businessmen blaming inconsistent economic policies and lack of incentives
dome has massive oil and gas landholdings in canada totalling 361 mln acres of which 74 mln have been developed
the pact includes provisions allowing the continued use of the shell trademark credit cards and the sale of shell brand products by the gasoline stations pri said
uk money market gets 186 mln stg afternoon help
i am deeply concerned that when the president visits prime minister brian mulroney next month he will be presented with this kind of argument and i hope he makes it clear as i did when i was in canada that only a mutually beneficial agreement will be successful bentsen said
sources said the government has may have already stepped up its borrowing having raised more than 18 billion marks
this government is dragging australia through a trading holocaust the kind of which we have not seen since the second world war keating said
first marathon securities ltd financial services analyst michael walsh said royal trusts international growth target is attainable
treasurys mulford sees major new lending for brazil other debtors in 1987
shr 41 cts vs 17 cts net 8824000 vs 4555000 revs 3019 mln vs 1964 mln avg shrs 17644000 vs 16085000
swedish export credit issues new zealand dlr bond
theyre really making the discount houses suffer said stephen lewis economist at brokerage house phillips and drew
belgium current holder of the european community presidency appears ready to drop a controversial oils and fats tax from this years hotly contested farm price package diplomats said
if the merger is approved common stock still outstanding will be converted into the right to receive 6132 dlrs a share in cash plus a fraction of a share of preferred stock
the suit requests an injunction against proceeding with the pending offer being made by sunter acquisition to acquire allegheny
royal business group inc roy 2nd qtr march one
us says canada complying with lumber pact
but business leaders and economic analysts say there are growing signs that brazils economy the eighth biggest in the non communist world is heading for a downturn after 8 pct growth last year
a pldt spokesman said the companys profits are likely to be substantial since the government raised its franchise tax to three pct from two and to impose a 35 pct corporate income tax from which it was previously exempt
domestic group turnover in the 1986 fourth quarter alone was 11 billion marks it said without giving comparison figures
imports for the year ended december 1986 were 1074 billion dlrs compared with 1114 billion in 1985
gen term corp acquires private firm
fairchild industries fen sets regular payout
at stake is the ability of developing nations including brazil mexico and the philippines to service their debts and the loss of trade worth hundreds of billions of dollars in important sectors such as agriculture and pharmaceuticals they said
national business loan data are scheduled to be released on friday
shr profit 14 cts vs profit two cts net profit 452723 vs profit 50581 revs 5065543 vs 2898363 year shr profit 45 cts vs loss 15 cts net profit 1276472 vs loss 340081 revs 160 mln vs 9304466
other possible strikes looming include stoppages by oil industry workers and social security workers
we have already seen substantial progress baker said in a miami herald article and argued the plan was never meant to be a quick fix but brazil ecuador peru nicaragua and bolivia have all ceased servicing some or all of their debt
uk money market deficit forecast at 350 mln stg
the us agriculture department estimated 1986 87 citrus production as follows in boxes total us orange crop excluding florida temples 190050000 boxes vs 190850000 boxes last month and 176410000 boxes in the 1985 86 crop
numac oil nmc has 597 mln dlr financing
because of the increased exposure to pod rot damage estimates of the final outcome of the temporao are extremely vulnerable and production could easily drop to below the 20 mln bag mark if the disease hits
moodys downgrades bankamerica bac 
shr loss 265 dlrs vs loss 231 dlrs net loss 143 mln vs loss 125 mln revs 2887000 vs 5321000 year shr loss 438 dlrs vs loss 250 dlrs net loss 237 mln vs loss 135 mln revs 132 mln vs 224 mln note 1986 net includes oil and natural gas writedowns of 121 mln dlrs in quarter and 190 mln dlrs in year
in a filing with the securities and exchange commission the bass group said it sold 567800 national distillers common shares between may 15 and 29 at prices ranging from 5994 to 6344 dlrs a share
petrobras cancelled a 40 mln dlr crude oil purchase from the saudis yesterday after they refused to accept a letter of credit from the official bank of brazil
shr four cts vs two cts net 406659 vs 210575 revs 6028263 vs 3654810 nine mths shr 11 cts vs seven cts net 1151988 vs 576358 revs 169 mln vs 9684002 avg shrs 109 mln vs 8632800
although the full time farm population is falling and there are signs the ldp is paying more attention to urban constituencies the ruling party remains heavily dependent on farm votes in the rural areas
but obrinsky doubts that there is much more downward potential for rates because he foresees higher inflation and some overall improvement in the us economy
vernitron vrn sets new record date
president samuel huntington told the analysts the construction spending projection is based on the expectation that demand for electricity in the new england electric system will grow about two pct a year for the next 15 years
wang der hwa deputy director of the finance ministrys customs administration department told reporters the list of products included 60 items asked by washington
prebble said air new zealand was successful but its ability to prosper in future was hampered by its wholly government owned status
olson industries inc olsn 4th qtr net
nsa said the investment note will carry a face value of one dlr and will pay five annual principal installments as well as quarterly interest payments on the outstanding principal amount at an eight pct annual rate
nigeria is due to receive 900 mln dlrs in fresh export credits this year from official agencies under a structural adjustment program drawn up by nigeria and the world bank to reschedule part of the countrys 19 billion dlr foreign debt
the central bank did not post the rate of the pound to the dollar and other currencies on monday
liptons and brooke bond two units of britains unilever plc control 95 pct of pakistans hard pack tea market traders said
recent examples were the rise in the financial rand and the sharp increase in foreign exchange reserves he said
access to retail investors was the driving force behind the multi tiered financing
ended feb 28 shr loss 29 cts vs profit 10 cts net loss 2733000 vs profit 911000 revs 215 mln vs 185 mln six mths shr loss 23 cts vs profit 26 cts net loss 2154000 vs profit 2445000 revs 378 mln vs 377 mln
redland held discussions on a possible takeover before the csr bid emerged but the negotiations foundered on the price
revenue passenger miles rose 165 pct in march to 2743 mln from 2353 mln and 338 pct year to date to 7103 mln from 5307 mln
light signatures will provide coded warranty labels for chryslers replacement parts
profit from australia and the far east showed the greatest percentage rise jumping 550 pct to 155 mln from 100 mln while the profit from uk operations rose 307 pct to 247 mln and europe 429 pct to 110 mln
denmark issues 200 mln ecu eurobond due 1992
westdeutsche landesbank girozentrale westlb said it is raising the amount of a 14 3 8 pct five year bullet australian dlr eurobond priced at 101 1 2 to 75 mln dlrs from 50 mln
reed said under the circumstances the 100 dlr per share tender offer which expires april 15 is a fair offer
indonesian farmers are trimming production costs and the aice is improving its marketing system dharyono said
the company said small royalties expected to result from use of cpc trademarks by the new owners will be utilized for social programs in south africa it said no significant impact on earnings is expected from the sale
see ecra for spotlight headlines we are looking at trade interest rates and financial flows in order to put forward a basis for some permanent solutions mexicos public credit director angel gurria said
the us economy is picking up and buying decisions are being made
one point of agreement feldstein said was that debtor countries would need additional credit in the coming years if they are to enjoy satisfactory growth
i think theyre going to have to go a little higher eventually just as royal dutch shell had to go a little higher for the shell oil minority shares bruce lazier of prescott ball and turben said
the march consumer price index same base rose 05 pct to 1460 after a 01 pct gain in february for a year on year rise of 17 pct
customs figures showed china imported 118 mln tonnes of sugar in calendar 1986 down from 19 mln in 1985
dyr liquidating dyr sets liquidating payout
the apt sat offer includes a provision for cgct to produce apt 5ess prx switching technology and adapt it to french standards
fbx corp fbxc year nov 30 net
treasurys baker pursuing s
the world bank is prepared to play a more aggressive role in promoting third world development and easing the debt crisis bank president barber conable said
rooters stock for four dlrs a share
under the terms of the letter nashua said it will acquire all classes of lin stock for 24 mln dlrs
franklin california sets monthly payout
the company also said it is changing its name to eurocapital corp shortly
he said he was unable to see what the us had achieved as arab states such as kuwait and saudi arabia whose interests the us is supposedly defending will feel less secure as a result of the us attack and fear some sort of iranian retaliation
it also announced a number of measures to ease hardship including higher pensions and family allowances
the philippines seeks to restructure 94 billion dlr of its 272 billion dlr foreign debt
however orange production in the region for marketing year 1986 87 is forecast at 565000 tonnes or 25 pct of the total italian orange crop it said
the company said the proceeds will be used to reduce debt continue the companys share buyback program and increase strategic investments in its core businesses and other corporate purposes
at september 30 the provision for loan losses jumped to 130 billion dlrs from 455 mln at the same time last year
gus makes 82 mln stg agreed offer for pantherella
takeuchi said sales are expected to fall 40 pct to 1700 billion yen for the fifth consecutive year on year drop
poll majority disapprove of reagan presidency
the sources said madagascar was still a long way from reaching the production target of 110000 tonnes per year and the export target of 63000 tonnes outlined in the governments 1986 1990 five year plan
norways central bank sold crowns in the open market in a bid to ease strong upward pressure on the currency which threatens to rise above set levels in a basket of currencies dealers said
saudi arabia has lifted the condition it imposed on the sale of oil to brazil and will accept banco do brasils credit guarantees state oil company petrobras said in a statement
bundesbank sets new repurchase tender
it will be open for signature from may 1 to december 31 this year
the panamanian motor vessel northern 1 4217 dwt was safely towed into greenock over the weekend after having its crankshaft broken off the scottish coast during severe weather lloyds shipping intelligence said
the ministers resolved that the proposed closures which should bring production capacity more in line with weak demand remain considerably below the surplus in capacity they asked the ec executive commission to consult with eurofer major steel companies and with governments to pinpoint scope for further capacity reductions beyond the annual 1526 mln tonnes identified by eurofer
an unspecified amount of internally generated funds would also be used for the stock purchases it added
montgomery street income mts 1st qtr net
those who supported us today can be sure that mexico will continue to be open and willing to share with them the business opportunities which its future growth will create
west german wholesale prices fell 04 pct in february from january to stand 69 pct lower than in february 1986 the federal statistics office said
awards will be based on whichever method is most cost advantageous to the goverment at the time the awards are determined
in addition it bought 63 mln stg of band three bank bills at 9 3 4 pct
an investor group led by members of the bass family of fort worth texas said it lowered its stake in national distillers and chemical corp to 1159400 shares or 36 pct of the total common from 1727200 or 53 pct
frawley is on a gulf tour which will also take him to saudi arabia the united arab emirates and kuwait to assess market potential
drought hits thai rubber and fruit growers
during his news conference conable said the world bank backed us treasury secretary james bakers third world debt initiative which calls for stepped up lending to heavily indebted third world countries adopting economic policies
this is potentially a positive development a commodity source said
i think the market is going to stabilize and give us a good second half others were less optimistic however
revlon in a filing with the sec compared the results to the five months ending dec
control resource crix sees lower earnings
almost 200 dead in ferry disaster
versar said it would use its working capital and an established life of credit to find the purchase which is subject to approval by both boards and is expected to be completed in april
it said the transaction is expected to be completed within 60 days at which time the mcdowell board would be restructured to include interpharm management
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
dart said it remains interested in acquiring sgl on a friendly basis and reiterated its willingness to negotiate all the terms of its offer
im saying thats very short sighted monsod said
the companies said that after the proposed merger the combined banking holding wil be among the 25 largest in the country
dome said in the filing it proposed lenders sign a letter of understanding in early april with implementation to be effective july 1 1987
patient pti considering debt restructuring
the money traders said they regarded the central banks cd buying operation as simply a gesture to live up to japans pledge to guide interest rates lower and stimulate the economy
officials said most of the funds raised will be used to pay down 600 mln dlrs of bridge loans taken out last month when american hoechst bought celanese for 28 billion dlrs
japanese personal savings grew 103 pct in 1986 from 1985 helped by a sharp increase in stock investments by individuals the bank of japan said
novo astro operates brazils richest gold mine located in amapa state with an average grade of 08 ounces of gold a ton in a hardrock quartz vein consolidated tvx said
the non callable bonds guaranteed by den norske creditbank will be issued in denominations of one mln yen and will be listed in luxembourg
investor to take control of river oaks roi 
house ways and means committee chairman dan rostenkowski said he would be reluctant to back the tax increase if it did not have president reagans support
its net earnings fell to 200000 us dlrs in 1986 from 522 mln dlrs the previous year
it said shareholders will be asked to approve an increase in authorized common to 100 mln shares
us bank discount borrowings 310 mln dlrs
the commission sources said today the increase was entirely explained by world market conditions
the idea found some quick copies
mail boxes etc mail 3rd qtr jan 31 net
but the venture has no firm estimate on the costs of extracting the gold and no assurances can be given that the reserves can be mined profitably the company said
the royal dtuch shell group owns 72 pct of shell canada and public shareholders primarily canadian own the remaining 28 pct of the company a shell canada spokesman said
the components group manufactures pumps bearings and other industrial components as well as nuclear control drive rod mechanisms and valves
california microwave previously estimated the write downs in the six to eight mln dlr range
merrill was the arranger for that program and will act as one of the dealers along with salomon brothers international ltd and swiss bank corporation international ltd
french free market cereal export bids detailed
bull will have four members honeywell two and nec one the new company which began worldwide operations today said
at the meeting of pharmaceutical analysts marions president fred lyons jr
money has been coming back to mexico because of improved investor confidence and because a tight monetray policy has forced credit starved industries to repatriate capital
the dollar rose to 17970 90 marks from new yorks close of 17730 40
computer terminal systems cpml completes sale
a collapse in sales to the eastern european and oil producing states combined with the effects of the dollars fall mean exports overall are unlikely to rise this year
but it had indicated that consideration would be given in due course to the cash clearing proposal made by amalgamated metal trading at a lme members meeting last week
we sincerely hope for some type of agreement among the worlds major grain producing nations to reduce stocks and restore profitability to agriculture miller said
united has got to consider this proposal
in a filing with the securities and exchange commission oppenheimer said it bought a net 477200 viacom common shares between jan 19 and march 3 at prices ranging from 4050 to an average of 4931 dlrs each
under the proposal snyder which already holds 1170400 cenergy common shares or 120 pct of the total could boost its cenergy stake to a total of 499 pct it said
the state oil company petroeleos de venezuela ended 1986 with a decrease of 45 pct in income from oil sales even though it surpassed its own export goal by almost 100000 barrels a day minister of energy and mines arturo hernandez grisanti said
ecuador which has foreign debt of roughly eight billion dlrs has not paid any interest to foreign banks since february
shr loss 16 cts vs profit 23 cts net loss 97600 vs profit 91980 revs 302745 vs 359699 avg shrs 621036 vs 388536 year shr profit seven cts vs profit 36 cts net profit 36400 vs profit 140980 revs 1610286 vs 763071 avg shrs 512235 vs 388536 note year ago net includes extraordinary gains of 33654 for qtr and 42654 for the year
australias crude oil tax strategy is probably best tackled in terms of a targeted rather than broadly based approach federal resources and energy minister gareth evans told a meeting here
it is an important institution but we do not accept it to monitor our economy he said
arbitragers speculated a bidding war may erupt for taft which has two large shareholders in an investment group led by robert bass and carl lindner chairman of american financial corp
la confederation des caisses populaires et deconomie desjardins the quebec credit union group said it is lowering the interest rate on unpaid balances on its visa credit card to 159 pct from 180 pct effective with june billing statements
wickes was last quoted at 345p compared with 275p at fridays close
shaheen condemned the detentions and accusations and asked tehran to free all fishing boats and sailors held by iran the statement said
the united states said that dumping has stopped in the us market but has continued in third countries and that the japanese market remains closed
bankers said the deal for the jeddah based heavy equipment importer is likely to set a precedent for the private sector
on line software osi 3rd qtr feb 28 net
a spokesman said he could not comment on the twa action
administration opposition to the deal also stemmed from ongoing trade tensions between the united states and japan officials said
central bancshares cbss 1st qtr net
leeds permanent issues 50 mln stg bond
he said the target could still be achieved but much will depend on the direction of long term capital flows
news corp nws unit corrects dividend rate
analysts said it accounts for a third of borgs earnings
prospects for 1987 hung on three uncertainties namely the future trend of the dollar the level of interest rates and abns share of equities trade hazelhoff said
niskanen also said the canadian government is vulnerable to a resurgence of economic nationalism which could restrict us exports to canada
the bank of france intervened in the paris foreign exchange market this morning for the third successive day banking sources said
it is the companys first dividend since it became a public entity last october
acceleration corp said it sold a 249 pct stake in the common stock of united coasts corp to the sheet metal workers national pension fund the company said it agreed to sell the fund an additional 51 pct of hartford conn based united when the fund receives approval from the director of insurance of the state of arizona
we took action as we became aware that the issues structure had changed said robert nelson of s and p
but the buffer stock manager would have to wait for the higher daily price to feed through into the 10 day average the indicator which governs his activities traders said
payment date is april 9
petro canadas posted price for the benchmark light sweet grade edmonton swann hills at 40 api gravity now stands at 2195 canadian dlrs bbl
around the auto industry there is talk of mergers and buyouts among dealerships and there are rumors that the largest are considering offering shares to the public analysts say
the revenue to the ec from the tax would simply be used to finance the ecs own oilseed subsidy machine he said
the underlying rate of inflation was now two pct not the reported negative inflation rates last year and west germany was affected more than before by exchange rate developments
the government has invited the imf to come to study the plan next monday
bank of england governor robin leigh pemberton said the paris pact agreed between six leading industrialised nations set no nominal exchange rate targets
the company said the suits allegations are similar to those contained in an earlier federal court suit
rorer would also set up two trusts to cover the estimated 175 billion dlrs in liabilities to deal with about 320000 claims by women who suffered maladies from the use of the dalkon shield interuterine device
triangle microwave makes microwave system components and had earnings for the first half ended january 31 of 1055000 dlrs on sales of 7292000 dlrs up from earnings of 763000 dlrs on sales of 6034000 dlrs a year before
the adoption of such measures would not fail to have a negative effect on the process of multilateral negotiations just started as well as on bilateral relations it said
exxon said that the ratio of debt to capital was cut by 16 pct in 1986 from the previous year to 19 pct
commonwealth bank cuts australian split prime
home federal bank of florida fsb hfbfo said it has scheduled a special shareholders meetng for july 26 to approve proposed changes to the banks charter and merge with barnett bank incs barnett bank of pinellas county na home federal said the meeting is to approve a definitive agreement signed may 26 calling for each share of home federals common stock to be exchanged for about 40 dlrs in market value of barnett common stock
spot next was put at 5 3 4 5 1 4 pct down from six 5 1 2 yesterday while one week rates were steady at six 5 1 2 pct
if target zones were established this would put pressure on other countries to reduce their interest rates even more even though this may be in conflict with their own domestic situation and priorities he said
hyman delivering a speech at the annual shareholders meeting said international tanker markets were generally weak throughout the first quarter but since the end of march opec oil production has picked up
however net borrowings remained the major part of total inflow accounting for 616 billion dlrs in the fourth quarter against 388 billion in the third quarter and 403 billion a year earlier the bureau said
but price increases slowed sharply for gasoline and home heating oil the department said
joint ventures might in some cases be preferable to starting new activities on their own the statement said
the current account deficit is expected to narrow to 119 billion ringgit in 1986 or 18 pct of gnp from 179 billion or 25 pct of the gnp the previous year
to the extent that individuals were not fully accepting or cognizant of the seriousness of domes financial position the financial statements reflecting this writedown of the value of assets is certainly going to indicate the depth of the hemorrhaging that has taken place gobert said
the combined dividend totals 56 cts for the march quarter an increase from the prior quarters dividend of 55 cts
a declining dollar scenario with higher currency futures prior to and throughout the venice meetings would be mitigated only by concrete action as opposed to jawboning at the g 7 summit he said
in line with fellow chemical giant ciba geigy cigzz which reported last month sandoz profit and turnover were also hit by the falling dollar the official said
overland express inc said it negotiated a restated debt moratorium agreement with its principal secured lender banks
the west german cabinet approved a plan to mint a special 10 mark coin commemorating the 30th anniversary of the european community this year
micron technology inc dram 2nd qtr march five
lukman said that if refiner buyers now refusing to lift some opec oil at official prices instead used their own stocks and ran them down to dangerous levels they would eventually have to buy opec oil
chicago milwaukee chg greets shearson stake
the 350 banks were supposed to confirm their argentina loan commitments by june 17
the promotion of the cooperative and private sectors of the economy has been an important part of the modernisation campaign with measures introduced recently to allow the setting up of small shops on a private basis
earlier today closely held computerland the largest pc retailing chain in the country said it agreed to be bought by an investor group led by em warburg pincus and co new york
grain ships waiting at new orleans
31 1985
equitable banc ebnc boss has ameritrust stake
the reduction follows similar moves from the three other british clearing banks
bundesbank vice president helmut schlesinger said today there was no reason to cut interest rates because money supply growth had shown no signs of slowing in may and the dollar was stable against the mark
icahn who has long talked about further consolidation in the airline industry also offered usair the alternative of a three way airline combination including twa and piedmont
the malaysian government said it has re imposed export duties on rubber at 3 8 cent per kilo after the gazetted price moved above the threshold price of 210 cents per kilo
the merger still requires shareholder approval
usda details free grain stocks under loan
irrigation development has been a major factor in improving agricultural performance and yields in many areas but fall short of their potential due to unreliable water supply and often inequitable distribution it noted
shr profit three cts vs loss two cts net profit 107000 vs 87000 loss revs 6769000 vs 4992000 nine mths shr profit 21 cts vs loss nine cts net profit 778000 vs loss 314000 revs 219 mln vs 139 mln
japan acts to cool us anger on telecoms dispute
saudi arabias 11 commercial banks are reporting a further decline in profits for 1986 as increasing provisions have to be set aside to cover the burden of non performing loans
he said there is caution in the foreign exchange market against a further rise of the yen and mark and this explains the recent stability in the currency markets
miyazawa said major nations are trying hard to stabilize exchange rates
in the midwest bankers are strongly encouraging farmers to plant sugarbeets because the us sugar program offers a loan rate of 18 cents per pound and because payments to farmers from beet processors are spread evenly over the growing season said luther markwart executive vice president of the american sugarbeet growers association
a year earlier oldhams net asset value was put at 5314 mln stg
bankers said they insisted on the principal repayments so that they could justify a margin of 7 8 pct by drawing a direct parallel between the philippines and venezuela which won a 7 8 pct spread on a 21 billion dlr debt rescheduling package last month
brazilian central banker francisco gros met bankers last night to begin what us officials predict will be months of extremely tough negotiations
poco petroleums ltd pocto 2nd qtr net
that the holiday inns deal sold out quickly underscored the appetite of many investors for high yield securities
a sinking fund starting in 1998 to retire five pct of the debentures a year can be upped by 200 pct at the companys option giving them an estimated minimum life of 139 years and maximum of 205 years
info data to acquire usa outdoor advertising
us treasury announces oecd tied aid pact
however lawrence cohn analyst at merrill lynch and co inc said that the markets nervousness was not really warranted
dutch seasonally adjusted industrial production fell by 64 pct in april compared with the previous month and was 55 pct down on the same period last year figures from the official statistics bureau cbs show
grain trade officials have speculated that usda would make a wheat export enhancement offer to moscow but usda officials have said the matter is not under active consideration
tri star trsp buys cineplex theater
concepcion named japan and south korea as examples
the seaway moves about one half of canadas exported grain
black and decker corp is raising 100 mln dlrs via an offering of notes due 1997 yielding 840 pct said lead manager first boston corp
it said the blanks will be manufactured in greenville tenn
we were considering the sale at the right price at a time when the shares were priced around nine to 10 dlrs he added
the spokesman said the march calendar would be flexible to take account of market conditions
wpp group plc extends its offer for jwt jwt 
the balance comprised 25000 tonnes of grains plus oilseeds and 45000 tonnes of derivatives
oil production is forecast to fall slightly in 1987 according to the statement
in fact the federal trade commission ftc report said such protectionist policies could make us products less competitive in the world marketplace by raising the cost of imported products that are re exported in different forms
foreign bankers in nairobi have said a new loan agreement with the imf would be kenyas first option for dealing with the expected deficit
they said that shultzs comments while not explicitly endorsing subsidized wheat sales to the ussr were noteworthy because they were not negative towards such action
talking point viacom international via 
consolidate capital trust ciots 4th qtr net
aetna life casualty aet files to offer notes
mountain states resources corp said it acquired two properties to its strategic minerals holdings
shr loss 10 cts vs loss nine cts net loss 558800 vs loss 469200 sales 55 mln vs two mln nine mths ended dec 31 shr profit two cts vs loss four cts net profit 91045 vs loss 207000 sales 173 mln vs 84 mln avg shrs 5465433 vs 5037819 year ended march 31 shr loss 28 cts vs profit 19 cts net loss 1356321 vs profit 818723 sales 109 mln vs 122 mln avg shrs 4862499 vs 4683591 note medar changed end of fiscal year to december 31 to be more in phase with business cycle of its major customers
the payment date is april 23
jacobs suchard ag said it acquired a comfortable majority interest in its takeover bid for cote dor sa belgiums leading producer of chocolate
1985 results restated for three for two stock split
1 1986 to mobay corp another bayer ag affiliate
for the full year oshmans net earnings fell to 2664000 dlrs or 45 cts a share from 8536000 dlrs or 140 dlrs a share
west german banking authorities are considering requiring german banks to bring securities holdings into lending ratio calculations used to regulate credit risk banking sources said
shr loss 30 cts vs loss 73 cts net loss 3895267 vs loss 8250222 revs 3237235 vs 234745 note 4th qtr data not available
but even the lowest of those estimates would be 85 to 127 pct greater than last years total of 71 mln tonnes according to official figures and would be a new record
the two rivals also signed confidentiality agreements which give them access to viacoms financial records provided they keep the information secret
the policy of the world bank was to maintain liquidity at a level that gave the bank flexibility to decide when where and how much to borrow rotberg said
bangladesh navy unloads grains during port strike
they said deregulation was vital to promote more competition and efficiency and most saw it as inevitable
it is lifting just 10000 to 15000 bpd
att philips bid for cgct outlined
shr 192 dlrs vs 58 cts net 279 mln vs 9480000 sales 1764 mln vs 1379 mln nine mths shr 387 dlrs vs 169 dlrs net 567 mln vs 276 mln sales 5056 mln vs 4385 mln
other states showing big enrollment were missouri with 646000 acres north dakota with 588000 acres and nebraska with 554000 acres
it said the unit was similarly limited in power in late 1985
the savings resulting from the additional 35 mln acres idled would be a little over 400 mln dlrs in loan savings 35 mln dlrs in transportation and storage savings and 10 20 mln dlrs per year in deficiency payment savings the report said
narrowly defined year on year m 1 growth was 2194 pct in january against 1589 pct in december and 1410 pct a year earlier
first national bank of boston bkb raises prime
you can see a pattern developing maude said
us officials defend oil reserve sale plan
shr 14 cts vs 12 cts net 1017000 vs 877000 sales 681 mln vs 612 mln nine mths shr 40 cts vs 17 cts net 2986000 vs 1215000 sales 2053 mln vs 174 mln note per share figure reflects two for one stock split of july 1986
harcourt brace hbj may be lowered by moodys
usg taiwan 54000 mt hss 10000 shex 4000 shex 20 4 5 5
prices have gone up for memory components the mainstay of the japanese semiconductor industry analyst drew peck of donaldson lufkin and jenrette said
force majeure lifted at cajamarquilla
august dubai was discussed in cautious early activity at around 1735 dlrs above fridays 1715 20 range but still below the government selling price gsp of 1742
an extension of the sixth international tin agreement ita for one or two years beyond june 30 is increasingly likely international tin council itc delegates said following a special council session today
european community ec finance ministers and central bankers agreed on the need for greater cooperation to strengthen the european monetary system ems against international market turbulence officials said
fuel switching could help us as much as five pct in increased demand shoup said referring to the gas industrys outlook for 1987
bayer said that the decline in world group turnover to 4075 billion marks from 4593 billion in 1985 reflected mainly the sharp fall in the dollar against the mark
proceeds will be used to finance a business expansion over the next one or two years by opening or acquiring additional stores rent a center said
harkin said a legitimate concern about his bill would be the impact of higher prices on livestock producers
the issue was increased from an initial offering of 20 mln dlrs because of investor demand
network netw to take 3rd qtr charge
the proposed sale was under antitrust review by the us justice department
the councils study said the trade talks with a deadline of october for an agreement are the biggest issue in us canadian relations
gatt economists said trade expansion would slow this year because of slower growth forecasts in japan and some west european nations as they adjust production and workforces to a low dollar risk of higher us inflation concerns over third world debt management and looming protectionism
the industry trade association called on us securities firms to take steps to protect sensitive corporate secrets to guard against illegal trading by employees
todays action by the us was not escalatory pyne said
it surged last week amid indications washington was seeking a major rise in its value
santana said if the saudis change their minds and decide to respect the terms of the contract then petrobras will lift the order to cancel the shipment
the bond equivalent yield on three month bills was 581 pct
crane cr to redeem convertible debentures
ecuador seeks halt to payments to banks in 1987
17 1987
distillate fuel stocks held in primary storage rose by 628000 barrels in the week ended april three to 10696 mln barrels from a revised 10633 mln the previous week the american petroleum institute said
he said more savings were required to maintain or possibly step up the present growth rate and to finance the countrys seventh five year development plan to be launched in july 1988
underwriters are expected to abolish the lump sum issuance system in which all corporate bonds are issued at month end and accept issue requests during the month they said
the european communitys annual inflation rate fell marginally to 32 pct in may from 33 pct in april the ecs statistics office eurostat said
the federal government drew down 38 billion marks of its bundesbank cash deposits which had stood at 41 billion in the third week of february and also borrowed a 18 billion in credit from the central bank
prices of rice and wheat have risen at least 15 pct in the past month market sources said
investment firm boosts purolator pcc stake
non callable for five years the debt is rated b 2 by moodys investors service inc
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
singapore will have an inflation rate of one pct in 1987 up from a negative 14 pct in 1986 trade and industry minister lee hsien loong told parliament
extraordinary debit of 50 mln stg related to the decision to seek a buyer for the companys us assets
he said the company has targeted waste energy systems and hazardous waste removal as some of the emerging growth areas for the company
belonging to ipma carries a certain amount of prestige with borrowers said a dealer at a small foreign bank
shr loss 14 cts vs loss 35 cts net loss 3718908 vs loss 6714372 revs 228 mln vs 144 mln avg shrs 257 mln vs 192 mln nine mths shr loss 102 dlrs vs loss 146 dlrs net loss 244 mln vs loss 281 mln revs 617 mln vs 289 mln avg shrs 238 mln vs 192 mln
sosnoff starts bid for caesars world caw 
the report said growth in gross domestic product gdp was likely to speed up slightly in sweden and finland in 1987 and 1988 while declining in denmark and norway
ph glatfelter co glp increases dividend
the paper said the 16 mln strong regular army contributed less than one pct to the nations 182 mln tonne food output
coachmen industries coa 3rd qtr net
republic savings and loan association and pioneer savings of racine wis said they have signed a definitive agreement to combine the two associations into a publicly held holding company to be called republic capital group inc
the whites price was at 192 dlrs from 190 yesterday
but the bank nearly trebled the amount set aside against bad and doubtful loans to 60 mln riyals from 22 mln in 1985
the notes have an eight pct coupon and were priced at 9965 to yield 102 basis points more than comparable treasury securities
at the same time the us soybean loan rate is too low to provide any income support for soybean farmers haggard 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
japan us will be at odds while trade lopsided
first city national bank of houston had a primary capital ratio of 534 pct and first city bank of dallas had a 475 pct ratio
but quarter end pressures helped push up funds
this is an increase of 500000 shares from the previously announced registration the company said
the key bond has fluctuated less than five basis points for more than a month here suggesting most dealers could not satisfy their needs for capital gains dealers said
was 13288 billion pesos at the end of december 1985
speaking at a press conference maxwell denied market rumors that british printing had approached british institutions to arrange a rights issue with a view to relaunching its bid for the us publishing concern
shr 25 cts vs na net 3081000 vs 2063000 nine mths shr 86 cts vs na net 105 mln vs 6966000 note year ago per share amounts not available as bank converted to stock ownership august 13 1986
company chairman simon keswick said the uk market offers attractive opportunities for competitively priced food retailers and that a strategic investment in kwik save offers the best vehicle to pursue those opportunities
west german finance minister gerhard stoltenberg said the currency agreement reached in paris in february had been successful and would be continued
the ec plan will be presented at the next meeting of uruguay round agriculture negotiators in geneva on october 26
south africa will repay 13 pct of its frozen 13 billion dollar debt to foreign creditors over the next three years under an agreement reached today in london finance minister barend du plessis said
us agriculture secretary richard lyng warned the european community yesterday it will face serious retaliation if it enacts a new tax on products such as us soybean oil
anitec said the offering is being underwritten by smith barney harris upham and co donaldson lufkin and jenrette securities salomon inc sb and mabon nugent and co
the banking center tbcxo 3rd qtr net
fernandez said consumption tended to be heavier in the first and second quarters because of the dry weather and it could drop off in the third quarter
gary associates lp which said previously it may seek control of gull inc said it increased its stake in gull common stock to 388900 shares or 77 pct of the total outstanding from a previous figure of approximately 318000 shares or 62 pct
the new england reciprocal banking laws have excluded new york as a means of protecting regional banks from being gobbled up by the money center giants
extraordinaries comprise exchange losses 1029 mln provision for goldendale smelter closure costs 273 mln and increase in future tax provision 103 mln
trade payables and obligations incurred in the ordinary course of business will be met
elsinore corp said it deposited about 233 mln dlrs with trustee manufacturers hanover trust co to cover accrued and unpaid interest on the 15 1 2 pct senior mortgage bonds due 1999 of its unit elsinore finance corp
a us defense department spokesman said he had no information on london oil and stock market rumors that the united states had launched a retaliatory strike against iran for an attack on friday that damaged a us shi i dont have anything major randy morger said
called the telecommunications marketing and service organization ibm said the group combines the us direct sales service and support operations of its rolm corp unit with the marketing support operations of its information systems group
baker stoltenberg and poehl agreed to pursue the policies accepted under the february louvre accord a finance ministry spokesman in bonn said
codelco and madeco have formed the chilean wrought copper company to take a 50 pct stake in a new company called peking santiago tube company with the chinese holding the other half
shell canada ltd 72 pct owned by royal dutch shell group rd st scheduled its annual maintenance refinery shutdowns during the next two months company spokeswoman judy wish said
the study examined seven factors which have been commonly blamed for the trade deficit foreign government subsidies and trade barriers to protect foreign industries a lack of investment in us industry declining research and development in us industry high labour costs union work rules the oil prices rises of the 1970s and us antitrust regulations
high cholesterol levels in the blood are a risk factor for heart disease susanne harris deputy assistant secretary of the us agriculture departments food and consumer services division said the health risk among consumers of vegetable oils with high saturated fat levels was highest among those who have heart disease
shr na vs na net 46000 vs 106000 revs 198 mln vs 190 mln year shr 26 cts vs 26 cts net 13 mln vs 13 mln revs 821 mln vs 1053 mln note1986 net includes 870000 dlrs charge
the financing will begin with the monthly auction on tuesday march 24 of 10 billion dlrs of two year notes
atlantic research corp said it has completed the acquisition of professional services firm ori group for 1414313 common shares on a pooling of interests basis
proceeds will be used for general corporate purposes including the acquisition of aircraft the company said
coffee sugar and cocoa exchange names chairman
oper shr profit 18 cts vs loss one ct oper net profit 387832 vs loss 29312 revs 6872630 vs na year oper shr profit 39 cts vs loss 23 cts oper net profit 835010 vs loss 441836 revs 208 mln vs na avg shrs 2135909 vs 1885909 note excludes gains of 378000 dlrs or 18 cts and 715000 dlrs or 33 cts in current qtr and year respectively from benefit of tax loss carryforwards
he said the us increase is due partly to the competitiveness of american cotton and partly to efforts by seoul to reduce its trade surplus with washington
kraft also said its advertising expenditures for 1987 are expected to match the five year compounded 15 pct rate of increase recorded in 1986 when such expenditures totaled 433 mln dlrs
osr said it expects to net about 150000 dlrs on the sale of standard knickerbocker
according to its more recent amendment to its schedule 13d industrial equity owned about 1917 pct of calmats stock at october 14 calmat said
investors remain cautious of the dollar which though recently stable still has potential downside risk
dean foods co df raises dividend
the short term effect of foreign exchange rate movements in correcting international trade imbalances appears to be waning and long term efforts are required to cut japans chronic dependence on external demand the bank of japan said in a monthly report
bat sees strong performance from all sectors
economists estimate that the governments spending target will rise to about 47 billion rand with revenue budgeted at around 40 billion rand
grain traders said the figures understate shipments already made by several thousand tonnes and they expect total uk grain exports to the ussr this season to reach 25 mln tonnes comprising 15 mln wheat 10 mln barley
yesterday he said venezuela obtained two new credits of 50 mln dlrs each for export financing one from credit du nord of france and the other from britains midland bank
feed usage for corn wheat soybean feedgrains sorghum barley oats includes residual amount
pennzoil also wanted assurances that texaco would not sell any assets kinnear said
dayton hudson said in a letter to shareholders it told an aggressive buyer of its stock that it does not want to be acquired
he said it was these concerns about national security which led him to express reservations over the proposed acquisition of fairchild semiconductor by fujitsu of japan
lawson says uk election not only ems bar
ghiirardi told the group considered japan one of the prime markets in which it intends to expand
we can double our earnings over the next five to seven years he told a banking analysts meeting adding that this forecast may be on the conservative side
the drought has also increased the number of forest fires
hughes supply hug to make acquisition
african trade sanctions
loans to basic industries were not major contributors to the increase in non performing assets or to first quarter charge offs but mellon said it remains concerned about the absence of a strong recovery in steel and related industries
clearing and delivery is through the facilities of the dutch central bank
grain traders and analysts look for a 10 to 12 mln acre sign up in the usdas conservation reserve program scheduled to be announced after 1400 cst today
amro bank argues that the dutch real interest rate will even rise further because of expectations of deflation here in 1987 contrasting with slight inflation in west germany
japan seamless pipe makers to form export cartel
trading performance improved at wholly owned subsidiaries rtz borax ltd rtz cement ltd rtz chemicals ltd and rtz pillar ltd
ibm australia credit issues aus dlr eurobond
the central bank of zambia said the kwacha was pegged at 1699 to the dollar compared to last weeks rate of 15 to the dollar
artistic greetings artg sees recovery in net
the two firms took note with regret that prices quoted by some specialised publications do not reflect the reality of the whole market since they take into account only part of the deals made a statement by enof said
pressure developed after us treasury secretary james baker repeated earlier statements that the reagan administration had no targets for the dollar apparently undermining the assumption that the agreement in paris had fixed broad fluctuation ranges for major currencies
money supply control is the governments chief weapon against inflation he said
that decision spurred by brazils suspension of interest payments on february 20 reduced the quarters net income by 20 mln dlrs to 2264 mln dlrs compared with 2339 mln in the first three months of 1986
they will be underwriting six mln dlrs each instead of 10 mln dlrs
belgian money supply rises in fourth quarter 1986
the committee had originally been due to meet in vienna this week
the january decrease left the index at 1838 over its 1967 base of 100 and was led by a fall in contracts and orders for plant and equipment
but he added i dont see any great pressure to go away from it
ef hutton lbo inc said its wholly owned pc acquisition inc subsidiary which is the entity making the offer extended both expiration date and the withdrawal rights period for its pending tender for 63 mln shares or 83 pct of purolator common
photographic sciencies corp pscx 4th qtr loss
december rod mill wirebar use nearly doubled to 3148000 lbs in january from 1540000 lbs in december
a commerce bank spokesman also declined comment when asked whether it is pressing dome to sell its encor stake
csx corp csx 1st qtr net
the world bank said it has extended loans totalling 241 mln dlrs to niger and zaire to help support economic reforms through structural adjustment programs
the report said to compensate for the below normal precipitation irrigation has increased as has the use of fertilizer
but federal agricultural officials have already warned farmers not to depend on additional government aid this year
excluding brazil non accruing loans at quarters end were 583 mln dlrs down from 633 mln at end 1986 and 684 mln a year earlier
weizsaecker is expected to announce the figure in a major speech later today at the bolivian congress the officials said
the unilateral boycott gives domestic companies until late september to cut trade ties with south africa and namibia
coopervision inc eye 1st qtr jan 31 net
this takes the total liquidity injected into the system by the bank today to 1026 billion stg compared with a shortage it estimated at around one billion stg
group sales in the same period are estimated at about 550 billion yen down five pct from a year earlier he said
the result has been higher imports of sugar containing products and a flight of us processing facilities overseas to take advantage of cheaper sugar
innovex said it bought the shares by exchanging 293101 shares of unregistered innovex common stock
no early redemption will be permitted
the agricultural stabilization and conservation service ascs bought 257 mln pounds of wheat flour at a cost of 28 mln dlrs for domestic shipment april 1 15 and april 16 30 an ascs spokesman said
a bank official attributed the increase mainly to taiwans growing trade surplus which increased to a record 168 billion us dlrs in 1986 from 112 billion in 1985
it made no alteration to its established dealing rates buying 95 mln stg of band one bank bills at 10 7 8 pct and 111 mln of band two bank bills at 10 13 16 pct
bangemann said everything possible would be done to find new jobs for the workers affected by the cuts
citicorp cci sees doubling in retail bank net
dealers said that the banks strategy succeeded in stemming pressure for a further rate reduction only briefly as the market yesterday recovered all the ground it lost on monday immediately after the announcement
it said deputy finance minister boris skapin was holding talks on this with representatives of manufacturers hanover trust co which coordinates the interests of several hundred banks in yugoslav debt negotiations
wall street stocks browning ferris bfi 
high producing corn belt states are expected to show the greatest acreage reductions based upon historical participation in government programs analysts said
the overall area devoted to sugar beet in europe is forecast to remain stagnant this year at 722 mln hectares compared with 721 mln ha in 1986 west german statistician fo licht said
while expressing regret over americas decision to impose tariffs on imports of japanese electrical goods nakasone said tokyo was willing to send a high level official to washington to help settle the dispute
british telecom third quarter pre tax profit 506 mln stg vs 452 mln
bosworth said the united states strongly supports manilas bid to put its international financial situation in order and that the private bank creditors were aware of that
some traders expressed a preference for a resumption of trading on the london metal exchange but they added that while there has been some behind the scenes discussion on the subject a definite move is unlikely until outstanding high court litigation actions have been resolved
the sale was opposed by commerce and the us defense department in part on national security grounds
aneco reinsurance co ltd anecf year net
in december 1986 the museuem said it proposed a 20 pct cash payment to its bondholders and a 125 pct cash payment to the unsecured creditors
it said it ultimately will collect most of those accounts
they said the difference between bids and offers widened
philips electrical ireland ltd has arranged the sale of the one mln ordinary shares it holds in its subsidiary unidare aluminium ltd unidare said
idc acquisition will also tender for all of idcs outstanding nine pct convertible subordinated debentures
metro funding also said its subsidiary comet corp will be renamed maxcom usa
we do not have in stock what we would like to have but we certainly have enough orange juice available to supply our buyers peres said declining to estimate the amount of the current stock
in a letter sent yesterday postal minister shunjiro karasawa told us commerce secretary malcolm baldrige that the ministry does not object to foreign participation by those us firms that have expressed interest
canadian bonds closed slightly lower on market jitters amplified by rumors that a big holder of domestic bonds was selling early in the day dealers said
oesterreichische draukraftwerke ag of klagenfurt is launching a 100 mln swiss franc 4 3 4 pct 10 year bond priced at 100 1 4 pct lead manager swiss bank corp said
house 0 92 plan seen scaled back to 1987 wheat
it will extract enough ore to provide an estimated 25 mln dlr profit by the end of this year he added
all sales under this line must be registered and exported by september 30 1987
the dollar is expected to decline further in coming days as scepticism mounts about the effectiveness of last months paris accord to stabilise currency exchange rates senior foreign exchange dealers said
gross domestic product grew a sluggish one pct in 1986 after stagnating in 1985 and growing 26 pct in 1984
us treasury secretary james baker said the japanese trade surplus would begin to decline this year
paralax video enterprises inc said it has agreeed to acquire american video group inc in exchange for 287700 paralax restricted common shares and three year warrants to buy 318600 restricted shares at six dlrs a share
great american industrial group inc agreed to acquire all the us and united kingdom assets of pfaudler co and the stock of certain brazilian mexican and west german subsidiaries of kennecott mining corp it said
it said the companies may form a joint venture partnership to bring the mine to full commercial production
the generally strong outlook bodes well for significantly improved earnings this year burnell roberts chairman and chief executive officer said
warwick insurance managers inc wimi 4th qtr
societe generale dutch unit launches cd programme
neither computerland which is 96 pct owned by its founder william h
ute geipel economist with citibank ag said if the bundesbank became more accommodating in monetary policy raising fears in some quarters of a return in inflation in the medium term unions would be obliged to curtail wage demands
the convertible eurobond issue announced yesterday for genentech inc geneo has been increased to a total of 150 mln dlrs from 100 mln credit suisse first boston ltd csfb said as lead manager
naples federal naf revises loan agreement
current interest by soviet charterers in taking panamax vessels on timecharter mainly from the us to carry grain is seen as the chief factor behind the recent surge in values on the baltic international freight futures exchange biffex dealers said
weatherford international said it suspended indefinitely payment of its regular quarterly dividend of 656 cts per share on its 2625 convertible exchangeable cumulative preferred stock
the sources said the package also contains provisions for payments to farmers who embark on a program aimed at protecting or improving the environment
prominent us grain trade representatives many of whom asked not to be identified continue to maintain that an offer to subsidize four mln tonnes of wheat is imminent
the debentures will be redeemed june one with 575 mln dlrs to be redeemed at 100 pct and the balance to be redeemed at 10233 pct
asked why some features of the debt agreement such as the token prepayments of principal were not made public immediately he said these are very long documents and in a press statement you can only cover the key points
it said the two year bonds will offer a floating interest rate which will not be less than 17 pct in new zealand dollars
other recipients were peoples republic of china 1104 1000 holland 1002 1500 ussr 500 500 and other areas 178 tonnes 564 sales to the uk west germany france and other western and eastern european countries are hidden under the heading holland as minpeco sells to customers in these countries from stocks the company normally holds in rotterdam the statement said
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
ultimately congressional sources said the agriculture committees may be forced to apply an across the board cut on all commodity credit corp
miyazawa said he wishes to attend a meeting of seven major nations g 7 expected just before the imf world bank interim committee meeting in washington starting on april 9
soybeans in mln bushels stocks aug 31 1987 projected at 610 vs 635 last month
french finance minister edouard balladur said the group of seven g 7 industrial countries should respect pledges on monetary policy made in the february louvre accord on currency stability
although the paper was not universally welcomed diplomats said the proposal to postpone consideration of the tax for a further six months was certain to survive any redrafting
vw says 480 mln marks maximum for currency losses
allegheny intl ag first boston set merger
backlog 281 mln dlrs vs 225 mln dlrs at end of previous quarter and 210 mln dlrs at end of prior years second quarter
the great lakes could have been open for traffic earlier this month due to the mild winter but scheduled repairs to the welland canal joining lake erie with lake ontario will keep that section closed until the april 1 opening she said
csbc has orders to build 10 ships totalling 460000 dead weight tons dwt this financial year compared with 11 ships of 462000 dwt in 1985 86 he said
a top iranian military official said americas attack on an iranian oil platform on monday had involved the united states in full scale war and iran would avenge it with a crushing blow the united states has entered a swamp from which it can in no way get out safely the iranian news agency irna quoted the head of irans war information headquarters as saying
we will be producing more than the quota to pay off the crude and products we have been lent by venezuela nigeria and kuwait and to compensate for the crude we have been unable to produce during the past few months he said
in addition the company said it expects to report a year end loss on the discontinued operations of its engine rebuilding divisions of approximately 1100000 mln dlrs
sugar quota imports detailed usda
the argentine grain board adjusted minimum export prices of grain and oilseed products in dlrs per tonne fob previous in brackets as follows sorghum 64 63 sunflowerseed cake and expellers 103 102 pellets 101 100 meal 99 98 linseed oil 274 264 groundnutseed oil 450 445 soybean oil 300 290 rapeseed oil 290 280 sunflowerseed oil for shipment through may 323 313 and june onwards 330 320 the board also adjusted export prices at which export taxes are levied in dlrs per tonne fob previous in brackets as follows bran pollard wheat 40 42 pellets 42 44
net profit reported earlier fell 853 pct in the year ended february 1
south african year on year producer price inflation rose to 161 pct in april against 158 pct in march central statistics office figures show
canada december gdp gains 12 pct
the dollar opened at a record tokyo low of 14000 yen against 14070 80 in new york and 14115 at the close here yesterday
agency rent a car inc agnc 4th qtr jan 31 net
chrysler said in a statement the actions reflect not only our outstanding performance over the past few years but also our optimism about the companys future
however the agency said first interstate has high liquidity and is less vulnerable to latin american credits than its peers
the bill would make it easier for us industries to win relief from surges of imports of competitive products
texas american bancshares txa to sell unit
northeast eastern thailand face severe drought
while the usda soviet import target for grain for 1986 87 was 22 mln tonnes many us grain analysts have revised their estimates of soviet imports up to 25 28 mln tonnes she said
system software ssaxo completes acquisition
irving nathan a burlington lawyer reiterated that information provided by james ammeen a former burlington executive was crucial to dominions decision to attempt o takeover of burlington
the rio dockers did not get support from their colleagues in santos brazils main port but the spokesman said they would not return to work unless their demands were met
the float follows the signing by finnish president mauno koivisto last friday of legislation entitling aliens with effect from next june 1 to own up to two fifths of the shares in finnish companies with consent of the council of state as against one fifth although voting rights will be restricted
oper shr 16 cts vs 14 cts oper net 5818000 vs 5284000 revs 882 mln vs 697 mln year oper shr 96 cts vs one dlr oper net 36101000 vs 37375000 revs 3740 mln vs 3070 mln note current qtr and year figures exclude extraordinary losses on early debt retirement of 17 mln dlrs or five cts per share and 79 mln dlrs or 21 cts per share respectively
anchor financial corp afcxo 3rd qtr net
the company gave no net profit figures or any indication of the likely 1986 dividend
ny traders say soviets made large sugar purchase
pearson plc psonl yr ended dec 31
production of black and green teas is forecast in the embassy report to rise to 125000 tonnes in calendar 1987 from 123000 tonnes in 1986
the bonus shares will not rank for the final dividend bhp said
trade war fears may prompt stock markets downturn
but brokers said the central banks move is seen as a de facto currency control
the share was around 253 marks today after a 650 drop to 252 yesterday
dutch money market debt eases in week
capitol said its board raised the quarterly dividend to 23 cts from 22 cts a share payable april 28 record march 31
shr 155 dlrs vs 70 cts net 3409000 vs 1455000 rev 541 mln vs 453 mln nine months shr 160 dlrs vs 10 cts net 3517000 vs 211000 rev 1444 mln vs 1270 mln note qtr net includes extraordinary gain of 12 mln dlrs versus 155000 dlrs for fiscal 1986s third quarter and a non recurring pre tax gain of 720000 dlrs
siaahan said zaire is expected to produce 1900 tonnes of tin in calendar 1987 and that in 1986 its output and exports were about 1200 tonnes
nynex will file its comments with the us district court on friday he said
it said it aims to double its marketshare in five years from the about 35 pct of the employee benefits industry it controls
la petite academy inc lpaio 3rd qtr net
there is no consensus but asked if he was optimistic on agreement for a new debt repayment plan stals replied yes in a telephone interview from his pretoria office
west german chancellor helmut kohl said last week increased borrowing to finance the tax reform is acceptable
gencorp has said a statement would be made on or before the companys annual meeting on tuesday
the diplomat said stocks at end august 1986 were 237 mln tonnes up from 192 a year earlier
cellular communications inc said that a unit purchased a 699 pct interest in the cincinnati non wireline cellular system
us trust co ustc raises broker loan rate
he said the deficit might fall to 145 billion dlrs this year from 165 billion in 1986 and further improve to 120 billion in 1988 but by 1990 it would be back around 160 billion dlrs
this is after accounting for the loss of some 15000 to 20000 tonnes due to the transport problems in the countryside they said
recent us oil demand up 21 pct from year ago
the majority producer group has proposed resuming quotas april 1 using the previous ad hoc method of carving up quota shares with a promise to try to negotiate basic quotas before september 30 delegates said
the season for corn and soybeans began september 1
philadelphia electric pe to sell bonds
vogel said bangemann had pledged that everything possible would be done to minimize the effects of reduced coal and steel production on the workforces and regions concerned
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
the bank last cut one to three month certificate rates on june 5 also by 010 points
its record losses have been caused by its past status as one of the nations top lenders to oil and gas producers and suppliers during the boom days of the late 1970s and early 1980s
one way or another we will force our major trading partners to stimulate their economies as a measure to correct the mounting us trade deficit chronowitz said
qtly cash distribution 60 cts vs 60 cts prior pay may 15 record april 30 note full name is freeport mcmoran resources partners lp
federal reserve weekly report 3 feb 26 one week ended feb 25 daily avgs mlns govts bought outright 193374 down 1342 govts repurchases nil unch agencies bought outright 7719 unch agencies repurchases nil unch acceptances repurchases nil unch matched sales 4920 vs 3788 including sales with cust 4369 vs 3788 other fed assets 16806 down 1161 other fed liabilities 6421 up 178 other deposits with fed 399 up 26
an industry wide rate hike of 29 pct set for april one will cover yellow freights upcoming labor and other costs but will not make a contribution to operating margins it said
kings road entertainment kren 3rd qtr loss
it bid them at 98859 and set a 9 3 8 pct coupon and reoffering price of 9975 to yield 170 basis points over the off the run 9 1 4 pct treasury bonds of 2016
edf issuing five billion french franc bond
gasoline prices rose by 55 pct last month after a 157 pct january rise the department said
he said he believes gold prices will hold above the 400 us dlr an ounce level for the rest of 1987
the coupon on the 70 mln dlr equity warrant eurobond for best denki co ltd has been set at three pct compared with the indicated 3 1 8 pct lead manager nikko securities co europe ltd said
martin said that an additional 50 mln dlrs in contracts to small and disadvantaged businesses will be announced later
loans to non bank customers increased to 401 billion dlrs in january from 387 billion in december and 369 billion in january 1986
data general dgn to take 2nd qtr charge
jp morgan says brazil action will reduce first quarter net by about 20 mln dlrs
indonesia finds new offshore oil and gas resources
more soviet grain buying from us tied to price
agriculture minister achmad affandi in written remarks distributed today as indonesias 14 foreign donor nations met at the hague said the general argument presented by the bank for this free trade open economy view is weak the bank called for overhauls in how indonesia manages the largest farm area in south east asia and said agricultural growth was stagnating under subsidies for rice farming
shr primary 68 cts vs 34 cts shr diluted 65 cts vs 34 cts net 1297 mln vs 529 mln revs 222 billlion vs 242 billion avg shrs primary 1521 mln vs 1471 mln avg shrs diluted 1998 mln vs 1471 mln nine mths shr primary 189 dlrs vs 100 dlrs shr diluted 184 dlrs vs 100 dlrs net 3611 mln vs 1451 mln revs 691 billion vs 490 billion avg shrs primary 1510 mln vs 1464 mln avg shrs diluted 1987 mln vs 1464 mln note earnings per share for 1986 have been restated to reflect 3 for 1 split effective july 8 1987
the adjusted index of producers inventories of finished goods base 1980 for january was unchanged from a preliminary 1059 the index was down 03 pct from december when it rose 11 pct
home federal upper east tennessee hfet 1st qtr
whittaker general medical has annual revenues of about 450 mln dlrs
heritage it and tele communications made required hart scott rodino filings with the federal trade commission and justice department on march 11 and 12 respectively
one factor affecting industrial growth was the introduction of a new quality control plan western economists said
chemlawn with about two mln customers is the largest us company involved in application of fertilizers pesticides and herbicides on lawns
graan elevator mij said its balance in port of grains oilseeds and derivatives rose to 136000 tonnes on march 7 from 31000 a week earlier after arrivals of 523000 tonnes and discharges of 418000 tonnes last week
but therefore japanese goods may keep their price competitive edge said azusa hayashi director of the first international economic affairs division of the foreign ministry
the tankoku mature on september 21 1987
commenting on the outcome of a coffee producers meeting in managua last weekend dauster said that they discussed nothing involving the market
the ec complained the accord breached gatt trade rules by allowing tokyo to monitor prices allowing it to set minimum prices for japanese chips sold in third countries
international american home sets acquisition
as the impact of the exchange rate depreciations of recent years recede further and given continued effective wage restraint inflation should moderate markedly in 1987 88 he said
the treasury said it received 309 billion dlrs of bids for the three month bills including 10 billion dlrs in non competitive bids from the public
nl industries inc nl set regular payout
unemployment was up from 28 pct a year earlier
eac industries inc eac 4th qtr oper loss
the miti spokesman said if the percentage of grey market is increasing for one specific company it suggests they are distributing their products through their sales network knowing they will be exported by some means
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
the world bank last year criticised ugandas policies on deficit financing and exchange and interest rates issues likely to dominate talks on the governments proposed recovery program
the department said exceptionally cold weather in january reduced exports that month and that there had been an element of catching up in the february figures
geonex sees sales hurt by production shift
he said that png could sell whatever cocoa it produces
hawkeye entertainment sbiz completes offering
many see it as a true test of whether producers and importers will abide by the quota system
cheyenne said it had five pct or less interest in the three other properties
that is a very short term view said lawrence mills director general of the federation of hong kong industry
company is wholly owned by gulf and western corp gw
insee said that the fall was due to a sharp decline in purchases of clothing which were high in january due to the cold weather
elsewhere in the eurobond market business was extremely quiet with virtually no activity seen in the dollar straight sector which has been becalmed of late traders said
if the two nations restructured their economies the dollar would remain stable in real terms while reducing japans current account surplus to 21 pct of gnp in 1993
the company said shareholders will be asked to approve the split at the annual meeting on april 29
x broken kernels not included supply minus use does not equal ending stocks in breakdowns
but s and p said it considers coverage a little weak
delhi petroleum pty ltd said a second gas flow has been recorded in the epsilon formation of the toolachee block on pel five and six signifying a new pool discovery
not only workers but also businessmen are restive
brazil has been the most strongly against any change in the formula because it feared a lower quota
the plants will cost more than 300 mln dlrs
renison gc and city resources set png gold venture
a major french bank said it acted for the central bank in buying between five and 15 mln dlrs against yen
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
citibank sells mark australian dlr warrants
the company said it intends to issue one share of fisher scientific for each 16 henley shares held to shareholders of record march 26
the statement also said that the prospects of the least developed countries continue to deteriorate and will improve only if commensurate financing on concessional terms is made available
it said the sale has eliminated an unprofitable operation
the groups subsidiaries include power equipment corp based in cleveland which employs 880 people energy products corp based in santa ana calif which employs 755 people romek corp based in elyria ohio which employs 262 people and transport dynamics in santa ana which employs 254 people
i dont think it fits the philosophy of an internationalising market he added
manning jr
we favor shortening the disclosure period to two days shad told members of the house telecommunications and finance subcommittee when asked for his recommendation
irts shares closed last night on the new york stock exchange at 19 7 8
terms were not disclosed
takefman said the company is actively looking for acquisitions in the consumer products industry likely in canada
dealers said there was no difficulty in placing liquidity in the primary market at the moment despite competition from the surge in investments on the paris stock exchange
northeast utilities nu year
a number of details have still to be finalized but the broad details of the new amortization schedules and interest rates are in place one senior banker said
in these circumstances the buffer stock may only need to buy between 20000 and 30000 tonnes to lift prices above the must buy level
societe generale governor rene lamy told last novembers annual meeting that 1986 asset disposals would total around 45 billion francs including the sale of genstar shares to imasco limited imsto he predicted a profit on extraordinary items of two billion francs after a rough balance in 1985
we want to correct business practices ramon diaz chairman of the presidential commission on good government pcgg told 
audi ag nsugf the 99 pct owned subsidiary of volkswagen ag vowgf said profit in 1986 fell by around half compared with 1985 when it achieved a record 221 mln marks net profit a rise of 195 pct on the previous year
anchor financial corp 1st qtr net
maryland national corp mdnt said it has completed the acquisition of american security corp in an exchange of 081 maryland share for each of americans 12 mln shares outstanding
interstate markets will become part of the subsidiarys operations the company said
phillips petroleum co chairman c
disputes between the factories and the trade unions are threatening to delay the start of processing in the southern areas where beets are maturing very early this year
canamax resources inc and pacific trans ocean resources ltd said they conditionally approved starting production at their jointly owned ketza river gold deposit in the yukon after a study recommended the move
more and more of them are switching from term lending to major growth areas such as stockbroking and fee based income he said
nigeria and france have signed a bilateral agreement to reschedule nigerias official debt to france government sources said
the diplomats said the ministers were expected to strongly back a commission warning to washington that such a bill if enacted would provoke swift ec retaliation
moodys investors service inc said it downgraded bankamerica corp and the unit bankamerica overseas finance corp but affirmed ratings of the units bank of america nt and sa seafirst corp and seattle first national bank
the government has to call an election by january 1988
it said shareholders at the annual meeting approved a doubling of authorized common shares to 30 mln from 15 mln and a limitation of directors liability
the iranian news agency irna quoted him as saying before leaving tripoli that opec should do everything possible to make oil prices permanently stable
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a very large shortage of around 175 billion stg in the money market today
at the same time its foreign liabilities rose 100 mln to 228 billion producing a rise in net reserves of 200 mln to 822 billion on march 31
imf world bank to meet amid new inflation fears
qtly div 32 cts vs 30 cts prior pay april 29 record april 10
one convertible dealer said were waiting to see the result of todays court hearing texaco is applying today in the texas courts for relief from having to post the court bond
in a speech sarney justified his measure as a need to face current well known difficulties to obtain foreign loans for the purchase of goods the parallel market although officially tolerated is technically illegal in brazil
elsewhere a travelers advisory remains in effect this morning over northeast new mexico and the oklahoma and tecas panhandle for blowing snow and slick roadways and across the mountains and deserts of southern california for strong gusty winds of 25 to 40 mph
simon and schuster said that woodhead faulkner will continue to publish under that name
this rash of countervailing actions where we acted on corn and you acted on soft wood and we both said they were quasijudicial the dispute resolution mechanisims in place now are not working adequately in either of our interests he said
in a filing with the securities and exchange commission redstone who controls dedham mass based national amusements inc a theater chain operator offered to raise the cash portion of its viacom offer to 42 dlrs a share from 4050 dlrs
as of october 11 12 pct of the uk sugar crop had been harvested little different to the same stage last year when 13 pct had been lifted
he said imf repayments were projected to total 156 billion dlrs over the 1987 92 period and drawings only 236 mln dlrs
in 1987 88 coffee production is forecast to rise again to 58 mln bags but exports to dip to 48 mln from around 50 mln in 1986 87
it said total cost to chrysler to buy all of the outstanding stock would be about 367 mln dlrs
the spokesman in response to questions from said the company does not yet have a comment on the 100 dlr per share tender offer launched by the partners today
shr net basis 2747p vs 2215p div 65p vs 54p making 101p vs 84p pretax profit 461 mln stg vs 356 mln net after tax 30 mln vs 233 mln extraordinary items debit 38 mln vs debit 23 mln interest payable 27 mln vs 40 mln net borrowings 76 mln vs 161 mln turnover 4789 mln vs 4641 mln
french finance minister edouard balladur discussed the need to control public spending in talks here today with british chancellor of the exchequer nigel lawson a treasury spokesman said
shell canada raises crude oil posting 32 canadian cts bbl
we are determined to stand firm and will certainly win the united states disclosed last week it was beefing up its gulf fleet from seven to 10 warships and also sending the refurbished battleship missouri to patrol just outside the strategic strait of hormuz entrance to the gulf
but some who see a smaller adding requirement are forecasting a less aggressive combination of three and six day repos
news corp ltd to acquire harper and row publishers inc for 65 dlrs share
guardman investment current manager and owner of all common shares of guardian morton also agreed to sell the common and its management agreement to a company controlled by sarlos if the takeover bid is successful guardian morton said
on february 22 the finance ministers and central bank governors of the us japan west germany france and the uk the group of five plus canada signed an accord under which they agreed to cooperate closely to foster stability of exchange rates around prevailing levels
these factors have contributed to a 130 billion dlr net outflow from latin america in the last five years and brazilian finance minister dilson funaro says brazil alone paid back 45 billion dlrs in this time and received just 11 billion in loans
earlier this week new york developer donald trump made a competing bid for the class b shares
reserve governor bob johnston last week acknowledged an element of targeting the rate against the yen in currency policy when he said authorities could not take their eyes off the yen because of the crucial role of japanese investors
in testimony before a house appropriations subcommittee baker said however i think it is wrong to say that commercial bank lending has not occured in a meaningful way he added though that it has not materialized as fast as we would have liked the treasury secretary also said that it would be politically wrong for the united states or other countries to guarantee loans made by commercial banks to the developing country debtors because that would be rightly perceived as a bank bailout baker also said that it would be impractical for governments to mandate bank lending to the third world since this would have the eventual impact of turning commercial banks away from making all loans to the region
raw sugar futures firmed to session highs by midmorning securing gains from last nights basically steady close of 100 to 180 dlrs a tonne in a 166 lot volume
call money today was quoted at 7 11 16 7 3 4 pct
sweden sets october deadline for safrica boycott
aquino said earlier this month that all the 24 billion pesos the government hopes to raise from the sale of the failed companies will be used to finance the land reform plan
the primary buyers for the 1987 88 season were south korea spain japan and taiwan the department said
royal bank canada ups us base rate 1 4 pct to 8 1 4 pct
but it called on the goverment to continue fostering domestic producers through the import parity price scheme
treasury balances at the federal reserve rose on april 6 to 4262 billion dlrs from 3876 billion dlrs on the previous business day the treasury said in its latest budget statement
the soybean meal sales to iraq includes 180000 tonnes for delivery during the 1986 87 season and 120000 tonnes during the 1987 88 season the department said
hoffmann la roche and co hofzz has not yet reported its results
the company said alan marvoce has been named to replace lambert as chairman and chief executive officer and michael t
totals reserves amount to 75 billion cubic feet of gas and 55 mln barrels of oil and condensate it said
turner broadcasting system incs cnn said it reached an agreement with china central television to air its news programming in china
new problems for world bank in debt strategy
if all shares are tendered shareholders would receive 29 dlrs cash six dlrs in debentures and warrants for stock in a subsidiary of pc acquisition containing the purolator us courier operation
comb cmco makes acquisition
pop radio corp said it has signed a seven year agreement to provide rite aid corp with in store customized disc jocky hosted radio programs resulting in an increase of more than 50 pct in the total number of stores pop now has under contract
it will be difficult to pull together the people for the meeting during july an aide to usda undersecretary daniel amstutz said
twa has the best cost structure since icahn succeeded in winning concessions from its unions
barclays de zoete wedd ltd said it today began market making in japanese convertible eurobonds denominated in dollars
shr primary 105 dlrs vs 88 cts shr dilulted 105 dlrs vs 86 cts net 1516 mln vs 1352 mln revs 232 billion vs 255 billion avg shrs 1446 mln vs 1545 mln
mr
ei du pont de nemours ddn subsidiary conoco norway inc was named operator on haltenbanken block 6406 8 and will share the licence with statoil
the company said it will attempt to settle the cost of service issues in timed to allow the new rates to go into effect this summer
commerzbank sees lower operating profit this year
cyprus lowers copper price one ct to 66 cts
listing is in luxembourg
mp co a new york investment partnership told the securities and exchange commission it bought a 68 pct stake in ipco corp common stock
canadas ruling in favor of a duty on us corn was a keen disappointment to the national corn growers association and has set a dangerous precedent for other nations to follow said mike hall lobbyist for the association
standard oil co said british petroleum co plcs proposed offer of 70 dlrs a share for the 45 pct of standards stock not held by bp is being referred to a special committee of the companys board
investment grew nearly 10 pct in 1986 and a bank of portugal forecast released on the day the psd government fell predicted the pace of investment and overall economic growth would remain at similar levels this year
eia says distillate stocks off 88 mln gasoline off 500000 crude off 12 mln
last year the reagan administration rejected a petition by the us rice industry seeking relief from japanese import restrictions
the maker of foam cups food containers and other products said it had 733332 outstanding preferred shares which had been privately placed
the national development finance corp of pakistan has raised three billion yen through private placement arranger daiwa securities co ltd said
the usda official also said that only those counties that use the gulf to price grain are being currently affected by the high barge freight tariffs and increased gulf prices
volkskas bank sees rand hinging on inflation rate
he said he would like to increase us production by one mln barrels a day
a group of new york investors said it lowered its stake in rospatch corp to 170250 shares or 70 pct of the total outstanding common stock from 202108 shares or 83 pct
with the dollar stable and economic data giving the federal reserve little room to ease monetary policy the inflation outlook is improving leiner said and that should lead to relatively stronger bond prices than bill and eurodollar prices
previously it had sought all shares
investment firm boosts amerford amrf stake
the data which has provided not clear cut view of the economy coupled with dampened activity in the foreign exchange markets after the paris initiative has made for less than ebullient market action mains said
ifr systems inc ifrso 1st qtr sept 30 net
balladur said in an interview with the financial daily les echos that the countrys economic growth will probably be about the same as last year due to a less favourable international environment
shr six cts vs four cts net 383189 vs 241857 revs 1506756 vs 793459 12 mths shr 24 cts vs 15 cts net 1520797 vs 929017 revs 5268486 vs 2617995
last month contractual volumes were cut by 30 pct
gencorp inc said the decision by general partners comprised of afg industries and wagner and brown to end its hostile offer for the company supports its belief that the buy back offer it announced yesterday was a financially superior alternative gencorp said it would annouce details of its plans to buy back 54 pct of its stock for 16 billion dlrs or 130 dlrs a share later this week
the increase came after a revised 74 pct drop in january sales to a level of 11752 billion dlrs
they said the bank of communications issue traded at a low of 9970 but was later pushed up to 9990 95 within the 10 basis point fee adding that buying came mainly from sister banks in the bank of china group
shr 71 cts vs 49 cts net 643 mln vs 437 mln revs 8382 mln vs 7426 mln avg shrs 899 mln vs 899 mln
period ended january 31 shr loss 28 cts vs profit seven cts net loss 931000 vs profit 7000 sales 2303000 vs 2006000 nine mths shr loss 55 cts vs profit seven cts net loss 1619000 vs profit 185000 sales 7684000 vs 7059000 note per share reflects issue of 600000 shares in october 1986
the senators several congressmen and us semiconductor industry representatives met with baldrige and state department officials to discuss japans alleged violations of a september 1986 agreement to stop dumping its microchips in the united states and other countries
us agriculture secretary richard lyng does not intend to discuss a wheat export enhancement initiative to the soviet union at a cabinet level economic policy council meeting set for tomorrow an aide to lyng said
both were failures in the united states although woolco still operates in canada
while declining specifics on his corporate strategy when asked if acquisitions will be part of the plan pinola replied thats undoubtedly a fair statement it would be almost naive not to think that pinola characterized his acquisition strategy as opportunistic he said he will look for banks in management trouble that he can get at a bargain then add management to restore profitability or for banks in states where first interstate already operates then cut costs by combining resources
shr 30 cts vs 26 cts net 2534000 vs 1695000 revs 988 mln vs 671 mln avg shrs 8447000 vs 6563000 note full name of company is harman international industries inc
brazil asks 60 day extension short term credit
the nfu which represents britains 11500 sugar beet growers is also taking legal advice on particular paragraphs in the mmc report which it says need further explanation
shr nine cts vs 19 cts net 188000 vs 362000 revs 204 mln vs 113 mln note1985 restated for reversal of certain tax benefits
grolier glr debt upgraded by moodys
italy shows interest in uk new crop wheat
salem corp sbs 4th qtr loss
marathon to raise crude prices 50 cts bbl tomorrow wti to 1750 dlrs
financial santa barbara fsb unit offers notes
stocks will continue to outperform bonds next quarter and probably for all of 1987
we are more anxious than ever that the new approach of the maekawa committee does lead to speedy and effective action said ec industrial union leader lord ray pennock
last februarys figure had also been hit by the import of two passenger aircraft
neoax inc said it bought rexnord incs fairfield manufacturing co for 705 mln dlrs cash
shr 37 cts vs 41 cts net 35 mln vs 38 mln revs not given nine mths shr 132 dlrs vs 118 dlrs net 123 mln vs 106 mln revs not given
the government failed to publish a 1986 87 budget due to uncertainty surrounding oil revenues
ameron inc amn 1st qtr feb 28 loss
the current annual payout is 176 dlr per share
german feb sugar stocks up in year down in month
i predict it will be something between eight and 10 per cent he told a news conference
traders today described the buying in ual as widespread indicative to them that big institutions believe the stock is in play
citing the view shared by the other two economists leuzzi said the fed cannot really afford to seriously lift interest rates to help the dollar because that would harm already weak economies in the united states and abroad and add to the financial stress of developing countries and their lenders
venezuela wants to boost its refining capacity
it said prior results were not comparable due to the companys november 1986 acquisition of a 57 pct stake in continuous colour coat ltd
they said he showed skill in reducing ozark airlines costs when he merged it into twa last year and he might be a necessary ingredient for a merger to work
consul said the debt was taken on to finance expansion
in the second half of 1986 net earnings were 2297000 dlrs or 29 cts per share
the european investment bank launched a 300 mln danish crown seven year bond withan 11 pct coupon and pricing of 101 pct
first wisconsin fwb to buy minnesota bank
rjr nabisco said the charges reflect reserves it established to cover certain expenses
earlier the company reported first quarter net income of 1086 mln dlrs or one dlr per share up from 868 mln dlrs or 85 cts per share in 1986s first quarter
the bond is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
the commission said its decision follows a complaint from ec non ferrous metals producers that the sales of soviet mercury were harming their business and threatening jobs in the european industry
the payment date is april 2 1987
for the maize rebates requested range between 12925 and 13874 european currency units per tonne for the barley between 13894 and 145 ecus and for feed wheat 14175 ecus
cbc which is the holding company which owns cookevilles citizens bank said it has signed an agreement which would merge cbc with union which has 22 billion dlrs in assets
plans were not fulfilled by the engineering and building ministries the chemical and timber sectors rail transport and light industry it added
it also sold its entire 488 pct stake in south china morning post ltd the larger of two english language daily newspapers here for 118 billion dlrs
payment date is expected to be april 22
now this sounds like theyre going to join the group and buy themselves out said edward atorino media analyst with smith barney harris upham and co
burlington lawyers said painewebber and ammeen met with edelman and dominion in november and continued to meet with them until a couple of days before edelman and dominion went public april 24 with their intention to take over the company
central bank governor chang chi cheng told reporters the reserves rose only about 500 mln us dlrs in the past two weeks and the local dollar appreciated more slowly against the us dollar
shr six cts vs eight cts net 643000 vs 889000 revs 3934000 vs 4373000
but while recognizing that soybeans are priced too high in relation with corn soybean groups have pledged their support to maintaining current price supports for soybean growers
canada plans to monitor steel imports exports trade minister says
south korea has ruled out a major revaluation of the won but is allowing its currency to appreciate slowly
the ministry has given the companies 10 days to accept or decline the proposed shares
turnover 393 billion francs no direct comparison own funds 20 billion francs vs 92 billion after transfer of 128 billion francs from profits and 85 billion from sale of securities
shr 34 cts vs 29 cts net 167 mln vs 133 mln sales 6787 mln vs 5310 mln avg shrs 489 mln vs 458 mln 1st half shr 81 cts vs 69 cts net 395 mln vs 317 mln sales 171 billion vs 135 billion avg shrs 489 mln vs 458 mln note twelve and 28 week periods
and sand plans to market a laser printer in the fourth fiscal quarter shattner said
net in 1986 included 108 mln from discontinued opers and an extraordinary credit of 52 mln from utilization of loss carryforwards
the juvena 53351 tonnes dw ran aground outside tartous port basin breakwater on february 25 in heavy weather and rough seas
galactic said the charge includes 99 mln us dlrs of costs concerning its summitville mine leach pad and 89 mln us dlrs in waste removal costs dyke construction and other mine developments
the companys board held a regularly scheduled meeting today and was discussing the waste management announcement
exports rose to a record 693 billion last month from 620 billion in january
the delegations will continue their top level meetings in bonn today but will not issue a statement before returning to the us at the weekend
pdvsa and union pacific have sought a line of credit from a group of north american and japanese banks to finance the new companys working capital the venezuelan company said
bankamerica corp said it placed its 19 billion dlrs in medium and long term term loans to the brazilian public and private sectors on non accrual status as of march 31
the company added that it has no reason to believe st
related to this matter of trade imbalance the point that i found to be of great cause for alarm during this trip to europe was the excessive degree of hope placed by the europeans in the results of the maekawa report he said
australias ansett to take 20 pct of america west
chung who is also minister of economic planning said his gnp estimate was based on the assumption that the economy will remain stable
commerzbank ag is the other joint lead
group has 51 pct of american physicians ampho 
standard and poors corp said that the credit quality of most us cable television companies is unlikely to improve in the near term
talking point bank stocks
manufacturers hanover trust co and cit group business credit inc increased its tender offer commitment to 197 mln dlrs from 166 mln dlrs and its merger commitment to 275 mln dlrs from 250 mln dlrs
quarter ended feb 28 shr four cts vs seven cts net 500000 vs 900000 revs 9200000 vs 10500000 year shr four cts vs 12 cts net 600000 vs 1500000 revs 176 mln vs 208 mln
it is the maekawa report which has attracted the most attention in europe and europeans and americans want quick action
the government has sacked about 20000 miners from its deficit ridden corporation since the collapse in the international price of tin
american agronomics corp agr 2nd qtr feb 28
i think the sales price was higher than most people expected said john henry of ef hutton group
other bankers however said mexicos motives were not so sinister and that the suspension was mainly due to the absence of top ministry officials in new york for the debt talks
equity investment company battery group ltd said it had agreed to buy occidental life insurance co of australia ltd from transamerica corp ta of the us for 105 mln australian dlrs
an index reading above 50 pct generally indicates that the economy is in an expanding phase
this order included highly stringent performance standards for the companys five nuclear plants the ratings agency said
control resource industries inc said the company estimates 1986 earnings to be between 800000 and 900000 dlrs or 22 to 25 cts per share compared with 852000 dlrs or 33 cts per share during 1985
locke said shareholders would be advised as soon as the discussions progressed and recommended that they keep their shares
private coffee exporters say colombias more pragmatic coffee marketing policy will ensure that the country does not suffer excessively from current depressed prices and erratic market conditions
with a name like this youre talking about japan inc the lead manager was the bank of tokyo international boti and the deal ended far above the par issue price at 108 109 pct
the current soybean loan rate effectively is 456 dlrs per bushel with no income protection or marketing loan
for the first nine months of 1987 the overall balance of payments showed a deficit of 1921 billion lire against a 1725 billion deficit in the same 1986 period
arvin said it might earn 57 cts to 60 cts a share in the quarter
net borrowing in the prior week averaged 148 mln dlrs
krutikhin said the united states has undertaken an act of armed aggression against iran the probability of which has long been spoken of by washington officials
psychologically buffer stock buying should help prices but since the buffer stock already holds a carryover of 100000 tonnes from the previous cocoa agreement and the market is in surplus dealers expressed doubts purchases can counter bearish pressure
lyng pleased ec to offer gatt farm proposal
by late february the market had recovered considerably but dai ichi kangyo bank and morgan guaranty trust co of new york launched their issues and pushed the market down again
poehl and other bundesbank officials have in the past stressed that the german central bank had no direct responsibility for growth and was solely concerned with combatting inflation
the increase also represents the latest in a series of increases that began with usx corps x marathon petroleum corps notification yesterday evening that effective today it raised its crude postings 50 cts a barrel bringing its contract price for wti to 1750 dlrs a barrel
reynolds owns stakes in the mount gibson gold project and the boddington gold project both located in australia
the imf position was unchanged from january at 507 mln but was above the 422 mln in february a year ago
but some dealers said the smaller volume awarded by the pact was in line with present liquid money market conditions and did not exlude a cut in the repurchase pact rate soon to 370 pct if money market rates continue at present levels
this was attributable to heavy redemptions of government bonds and unclear prospects for the dollar which has sent many foreign bond market participants to the domestic market the sources were quoted as saying
north american acquisition said the agreement is subject to due diligence and a satisfactory review of pioneers operation
harper international hnt in acquisition
vieille montagne reports loss dividend nil
for several years uganda had been unable to meet its ico export quota as rebel activity disrupted the coffee industry
at least one of the other two targets was also believed to be ablaze the sources said
youre going to have a hard time convincing congress now this is an urgent issue the coffee analyst said
in the past he has preferred to be less definite about the governments exchange rate policy lest it give foreign exchange markets set limits to test
the increase in lighter weight cattle entering feedlots helps explain the jump in feedlot placements last month from february 1986
opec produced only about 14 mln bpd of oil in the second week of march 18 mln bpd below its ceiling largely because of pipeline problems in turkey and ecuador the middle east economic survey mees estimated
however the us banks are not the only ones threatened by regulations
uk intervention board details ec sugar sales
hong kong february trade swings into deficit
arbitragers said a new buyer might be found because they believe hutton lbo has taken on no risk in the transaction
where the rains were less heavy they were considered beneficial although too late to improve yield estimates
japan appears to be relying less on corn from china argentina and south africa and more on supplies from the united states the us agriculture department said
blue arrow shares were trading 9p lower at 670 this morning
the us which holds a 345 pct stake in the bank has proposed lowering the veto power to 35 pct a move strongly opposed by latin countries which together hold 542 pct
dekalb corp dklbb 2nd qtr feb 28 net
the seven nations discussed the debt problems of developing countries and ways to proceed in line with the debt initiative outlined by us treasury secretary james baker 18 months ago
for some other countries the communique said the debt cannot be properly serviced if the countries are to grow at the same time
discussing its major subsidiaries the company said that prudential capital and investment services inc the holding company for brokerage house prudential bache securities and certain other related subsidiaries earned 142 million dlrs in 1986
berliner bank issues 50 mln australian dlr bond
asked by reporters after his speech whether he sensed a shift in the state department towards supporting an export enhancement initiative for the soviet union dole said he didnt see any change
hutchison said earlier it will sell its entire 235 pct interest in hongkong electric holdings ltd hkehhk to cavendish international holdings ltd itself a spin off from hongkong electric
west virginia has been declared free of tuberculosis and brucellosis from its cattle population the us agriculture department said
especially sought were spot east african and ethiopian and some brazils they said adding that some high grade robustas also met some demand
the company paid an extraordinary dividend of 10 cts in may 1986
the company said closing is expected by october 31
best products co inc 4th qtr shr 144 dlrs vs 83 cts
the financing will involve a 150 mln stg five year committed tranche and will be backed by an uncommitted tender panel through which rolls royce will be able to issue bills or multi currency advances
herringtons proposals to spur production were made along with the release last week of the energy departments report on energy and the national security
shr 75 cts vs 52 cts net 1699124 vs 1177786 revs 456 mln vs 316 mln 12 mths shr 222 dlrs vs 220 dlrs net 5057292 vs 4961085 revs 1302 mln vs 1267 mln
he attributed this to restoration of law and order which has greatly reduced not only the extent of unrest but also the intensity of unrest south africa has been under a state of emergency since june 1986 because of black political violence that has claimed over 2400 lives in the past three years
continental gic sees 1987 net up from tax law
the 93 nation world trade body began the uruguay trade round last september
brazilian finance minister dilson funaro who suspended interest payments to creditor banks two months ago said creditors had to trust him when he said brazil would achieve a trade surplus large enough to continue servicing its debt
the central bank has so far not issued its own paper the sources said
it said amounts due under the notes are payable soleley from proceeds of the sale of securities by jm and non oil and natural gas revenues of dei
the newspaper gave no other details
rexnord inc said it signed a definitive agreement to sell its railway maintenance equipment co subsidiary to oak industries inc
the report said securities firms should be more rigorous in restricting sensitive information on a need to know basis it said firms should train their employees to understand the need for confidentiality of market sensitive information
cumulative export authorisations for the current 1986 87 season now stand at 1915270 tonnes 40 weeks
the pricing behavior of american producers in response to price increases of their foreign competitors will be crucial for our economic future he said
gold futures which previously had a limit of 25 dlrs on market moves in most back months were about 700 dlrs weaker in the nearby contracts amid thin conditions traders said
private exporters reported sales of 125000 tonnes of us corn to the soviet union for delivery during the 1987 88 season and under the fifth year of the long term grain supply agreement
in an information statement distributed to newmont shareholders explaining the dividend of magma shares declared tuesday newmont said magma had a net loss of 466 mln dlrs in 1986 adding this was equal to 122 cts a share
the federal communications commission approved the sale last december gencorp said
in alaska failures rose by 662 per cent it said
the bank holding company said proceeds will be used for general corporate purposes including investments in or extensions of credit to its subsidiaries
us treasury secretary james baker said that he opposes a federal tax increase to help reduce the budget deficit and favors spending cuts instead
the officals said hoechst celeneses 1987 capital spending of over 200 mln dlrs will be funded from internally generated cash
finance minister jaime ongpin did not refer to the prepayments at a news conference he held in new york on friday to announce the rescheduling agreement
american fructose corp afc 3rd qtr net
it said a joint field survey late last month by the association the commerce ministry and the bank of thailand indicated that paddy output in thailands northeast region is lower than expected because of a drought in several provinces
the sources said japanese trading houses were seen covering a total of 500000 tonnes of chinese corn for shipment in may to october
rather the key to detecting a change will be found in seasonal and adjustment borrowing at the discount window he said
lng imports from algeria unlikely in 1987
teva said it will continue to market promedicos products through its wholly owned subsidiary salomon levin and elstein ltd
union carbide uk debt upgraded by s p
bank of japan has no comment on yen bond report
beghin say not planning to withdraw sugar
fees are a 1 3 8 pct selling concession and 5 8 pct combined management and underwriting fee
tokyo already faces a deadline of april 17 from washington for the imposition of 300 mln dlrs worth of tariffs on chips it imports into the us the ec executive commission said today the european electrical component manufacturers association complained that japanese firms were selling high capacity eprom type erasable programmable read only memory chips at unfairly low prices
american television was spun off from time in august 1986
he noted that the ec imports one quarter of us soybean production and loss of that market would be devastating
ec annual inflation falls in may
moodys investors service inc said it may downgrade 200 mln dlrs of debt of harcourt brace jovanovich inc
citgo petroleum corp a subsidiary of southland corp said it raised the contract price it will pay for all grades of crude oil by 50 cts a barrel effective oct 16 the increase brings citgos postings for the west texas intermediate and west texas sour grades to 1900 dlrs barrel while light louisiana sweet is now priced at 1935 dlrs
uk retail sales rise 22 pct in february
us factories mines and utilities operated at 798 pct of capacity in february compared with a revised 796 pct in january and december the federal reserve board said
there were few offers in a tight market and traders scrambled for any available funds
labour minister almir pazzionotto would act as a mediator
the parent bank balance sheet rose 89 mln marks to 132 billion while business volume was almost unchanged at 148 billion
the new figure represents the first change in the plants budget since august 1985 when it was estimated at 835 billion dlrs
he said allied lyons has a two year call option that could force gulf canada to sell its 49 pct stake to allied lyons and gulf canada has a two year put option that could obligate allied lyons to buy its 49 pct
harvesting in areas not actually under water could also be further delayed due to dampness in the earth the sources said
the bond guaranteed by the state will carry warrants exchangeable for variable rate bonds with interest based on the average monthly yield of long term state bonds tme denominations are of 5000 francs nominal and the first coupon of 455 francs will be paid on march 23 1988
the board has proposed a total of 200 mln authorized common shares and 60 mln authorized class b shares
kidder peabody introduced this concept on february 12
its pacific southwest takeover which has received federal approval and is due to come up for shareholder approval later this month is for 17 dlrs a share or 400 mln dlrs total
harper group harg 4th qtr net
shr 140 dlrs vs 116 dlrs net 5776000 vs 4429000 avg shrs 4132828 vs 3834117
the company has always had the aura of a penny stock shattner said adding that sand plans at some time to apply for listing on the montreal stock exchange
amre inc amre 3rd qtr jan 31 net
addressing analysts stonecipher declined to give specific figures but attributed his optimism to a recent loan agreement with ich corp ich under which pre paid is slated to receive 10 mln dlrs
transamerica ta to have australian sale gain
kenyas economy will continue to expand this year and the government will do more to encourage investment by foreign firms and the local private sector planning minister robert ouko said
piedmont fell one to 68 5 8 on volume of 963000
indonesia with 168 mln people is the worlds largest moslem country
richard lacy chief executive at exco international put average daily treasuries trading volume in london at about 15 billion dlrs
ea viner holdings ltd eavkf 4th qtr loss
kim said his government plannned to reduce the ratio of foreign debt to the countrys gnp to about 20 pct in 1991 from about 50 pct in 1986
although prices are now considerably lower consumers and producers have been unable to agree on re introduction
the finance ministry is still asking financial institutions to limit speculative dollar dealings finance minister kiichi miyazawa told reporters
the new facility will lower labor and mill costs and enhance product quality and range slater said
keycorp said richard k
they said the central bank bought between one to 15 billion dlrs today including direct purchases through brokers and yesterday it might have bought a small amount of dollars through the us central bank in new york
higher earnings from trading on the banks own account contributed to record operating profits
stanley said the companys stronger than optimal balance sheet will enable it to make further acquisitions but no negotiations are going on at the current time
houston lighting plans to buy back its outstanding 11 1 4 pct bonds of 2009 12s due 2010 12 3 8s of 2013 and 11 5 8s due 2015 and part of its 10 1 8s of 2004
rio grande drilling co said its subsidiary rio grande video entered into a limited partnership agreement with a group of private investors to develop and operate five blockbuster video superstores in florida
the united states said last week it would support a 500 mln dlr bridging loan for argentina
besides benjamin and vazquez rana the other presidents have been luis nogales a california businessman who helped steer the agency through bankruptcy proceedings and maxwell mccrohon former editor and managing editor of the chicago tribune
video jukebox network inc said it signed a letter of intent to purchase up to 35 mln shares of the four mln shares of the companys common stock from its founder and president steven peters
financier carl lindner who holds a 162 pct stake in taft broadcasting co told the securities and exchange commission he has discussed with the company the possibility of seeking control of it
in its weekly statistical bulletin the oil industry trade group said gasoline stocks fell 289 mln barrels to 24844 mln barrels from a revised 25133 mln and crude oil stocks dropped 439 mln barrels to 32513 mln from a revised 32952 mln
in paris trade minister michel noir said france has decided to give japan a taste of its own medicine
it has also rejected management participation by an international common carrier such as cable and wireless arguing no international precedent for such a stake exists
the bank of england said it gave the market further assistance of two mln stg during the afternoon buying that amount of band two bank bills at 10 5 16 pct
that would not be wise he said
in argentina a reduction in the sown area of about 20 per cent was put down to low prices causing producers to switch to other enterprises particularly livestock while lower us acreages are attributed to official incentives
the us agriculture department currently forecasts this years ussr crop at 2101 mln tonnes and if realized this would be the third year since 1975 that the soviet unions grain harvest has exceeded 2000 mln tonnes
torrential rains halt argentine grain harvest
esso saf essfpa the french subsidiary of exxon corp xon said it had no immediate plans to shut down one of its two refineries
krenzler said early planted stands in the north central and southwestern parts of the state are probably most vulnerable
the offer which is being made by a wholly owned subsidiary revmac acquisition corp is subject to financing and at least 285 mln shares being tendered the company said
espinosa said yesterday the pipeline which carries crude from jungle fields to the pacific ocean coast of balao would be repaired with the help of texaco inc txn and a mexican and an argentine firm
the company said in the first quarter ended january 31m it completed the divestiture of its health maintenance organization operations to travelers corp tic sold its whittar steel strip operations to dofascoxinc and sold its equity investment in bertram trojan inc to an affiliate of investcorp the company said it has entered into definitive agreements to sell whittaker general medical corp bennes marrel sa of france and juster steel corp as well
yugoslavs have 98 billion dlrs worth of foreign currency savings in the country and 20 billion dlrs abroad mostly owned by workers employed in western europe
proven reserves as of december 31 1985 were 978000 tons grading an average of 0194 ounces of gold a ton equivalent to about two years future production
rochester community savings bank rcsbo 2nd
bci holdings corp said its beatrice us food corp retained shearson lehman brothers inc to assist in the sale of its national bottled water business
mitsubishi heavy industries ltd mitht mhi and c
they were commenting on a weekend jakarta report quoting a ministry of trade spokesman as saying indonesia had not issued licences to import the commodity
most countries have no prospect of paying their debts in the foreseeable future
suburban bancorp subba merger approved
the issue was increased from an initial offering of 100 mln dlrs because of investor demand
it gave no details
french gross domestic product should grow by 23 pct in 1988 after two pct growth this year and 21 pct in 1986 the finance ministry said
us house plan seeks to bar foreign takeover
liberty shareholders will receive about 48 dlrs per share uopn the merger the company said
it said mckesson envirosystems current annual gross revenues are about 14 mln dlrs
the seasonally adjusted february average of m 2 plus cds supply rose 08 pct from january it said
csce restructures coffee futures daily limits
gerber geb sets deadline for units buyout
marine midlands oneill said pressure will build up on germany to take stimulative action like japan some japanese bank dealers warned that although the dollar could hold above 145 yen for some months it could also come under attack again if it seems the latest economic package is not having much impact on japans economy and its trade surplus
the government move is aimed at protecting goodwoods minority shareholders and securing goodwood deposits at the nbb the banking sources said
goodyear gt unit to start up pipeline
bank of new england bkneo post pro forma net
japan will have to explain what the state of their program is and germany will report on its plans
stifel financial said it received unsolicited merger proposal
the ec provides subsidies of about 16 cents a pound on pasta exports
cotton sales of 57900 running bales 43800 bales for the current year and 14200 bales for the 1987 88 season were off 25 pct from the previous week and 50 pct from the four week average
shr 19 cts vs 13 cts net 2656000 vs 1712000 revs 154 mln vs 9443000 avg shrs 141 mln vs 126 mln year shr 98 cts vs 77 cts net 138 mln vs 8928000 revs 588 mln vs 485 mln avg shrs 140 mln vs 116 mln note shr figures adjusted for 3 for 2 split paid feb 6 1987
the rating agency said that a poor outlook for the oil services industry would pressure earnings and cash flow for basker hughes over the intermediate term
it had been a gesture to ease negotiations but the lack of an agreement leaves it no longer valid and exports could be above or below 155 mln bags he said
piosec technology ltd said it exchanged 45 mln common shares for 21 pct of privately owned alliance semiconductor corp of santa clara calif
japan february wholesale prices fall 01 pct 06 pct january drop official
cpc international inc cpc regular dividend
he did not say when this would be but added the contracts would not be bound by restrictions imposed during the second round
moodys investors service inc said it may downgrade about 65 mln dlrs of frank b
share analysts said they expected boliden to announce it will be taking over the us allis chalmers corp aho but company officials refused to confirm the reports ahead of the news conference
qtly div 25 cts vs 25 cts prior pay april one record march 15
the sale has been opposed by the us commerce department and the us defense department in part on national security grounds
ramon diaz chairman of the presidential commission on good government pcgg told smc had offered a price of 126 pesos per share for the block held in trust by the ucpb
the company said conditions of the offer include the receipt of at least two thirds of purolators shares outstanding on a fully diluted basis and the repeal of its share purchase rights plan
the 2500 tonnes of sugar offered to intervention in the netherlands has been refused by the intervention board because of wrong packaging a spokeswoman for the ministry of agriculture said
the international chamber of commerce stopped publishing a tin price after the london metal exchange lme stopped tin trading on october 24 1985
rafsanjani in an interview reported by the iranian news agency irna also commented on earlier us disclosures that iran had erected sites for new chinese made silkworm anti shipping missiles at the strait of hormuz
jardine matheson shares rose 20 cents to 2490 dlrs at midday on the hong kong stock market
norstar bancorp fleet financial group agree to merge
gateway gmsio recinds offer for westworld
falcon cable systems co said its set an initial quarterly cash distribution of 5375 cts per unit payable may 15 to unitholders of record march 31
although liabilities on other existing fields will be reduced immediately liabilities on larger new fields will rise in the future due to the loss of offsets it said
but it said the loss was offset by a 25 mln dlr gain on the sale of common shares of sea land corp a unit of csx corp csx
kaske told the annual shareholders meeting turnover rose to 212 billion marks in the first five months of 1986 87 about 19 pct above the same year ago period
the commodities will be supplied in the current fiscal year ending september 30 and sales will be by private us traders on a competitive bid basis
mounting trade friction between the us and japan has raised fears among many of asias exporting nations that the row could inflict far reaching economic damage businessmen and officials said
fn results hit by strikes dollar in 1986
orders received by the steel sector last year decreased by three pct to 62 billion marks from 1985 it said
adams said pdvsa crude would remain competitive even with an oil import fee because champlin had invested heavily over the years in adapingthe texas refinery to process venezuelan heavy crudes with coking and hydro treating facilities and obtain a competitive product yield
depressed grain exports rising costs and competing modes of transportation are all expected to result in only a marginal increase over last years traffic levels and revenues on the 2300 mile waterway officials said
shr 10 cts vs nine cts net 217000 vs 192000 revs 3325000 vs 2506000 year shr 31 cts vs 43 cts net 660000 vs 932000 revs 122 mln vs 107 mln
some foreign companies are not waiting but they are more the exception than the rule roeher said
first financial ffmc bids for comdata cdn 
finance minister roger douglas predicted a budget surplus for the year ending march 1988 of 379 mln new zealand dlrs against a 195 billion deficit last year
hertz said ascs county officials have had to make a large number of eligibility determinations for individuals and other entities such as corporations and partnerships in preparation for imposing the 50000 dlr per entity cap these offices already had a very heavy workload due to the large number of applications for both the 1987 farm programs and the conservation reserve program hertz said
telco telc delays defensive rights offering
the committees were asked to come up with the proposals after the last reshuffle of ems exchange rates in january
a 100 mln dlr offering of 30 year bonds bears an 8 3 4 pct coupon and was priced at 9960 to yield 8788 pct or 120 basis points over treasuries
shr 33 cts vs 31 cts net 9219017 vs 8515539 revs 1120 mln vs 954 mln
first quarter revenues increased to 112 billion dlrs from 9608 mln dlrs in the prior year
time inc said it began a tender offer for all of its 150 mln dlrs of outstanding 10 5 8 pct notes due oct 15 1992
general cinema corp 1st qtr oper shr 43 cts vs 47 cts
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
general public utilities corp gpu two mths net
resende announced suspension of the maize imports at a news conference in brasilia yesterday
borrowings under the exchange cover scheme were 238 mln dlrs against aprils 66 mln
japanese prime minister yasuhiro nakasone will draft a reply to the criticism following further discussion a posts and ministry official said
1600 workers and oshawa ont
he declined to give details of the statement but said central bank president francisco gros was seeking a 60 day extension of short term credit lines from its commercial bank creditors
addressing the annual meeting of the national grain and feed association tom vongarlem assistant deputy administrator for usdas state and county operations said the following changes are under consideration by usda
funds raised in excess of the governments budgetary needs will not be channelled into increased spending but will be recycled back to the financial system largely through the mas hu said
bank of japan steps up dollar buying
february sales for major us retailers store pct 1987 1986 sears 49 18 bill 18 bill k mart 131 15 bill 13 bill wal mart 440 885 mln 615 mln jc penney 53 780 mln 741 mln federated 96 720 mln 657 mln may 150 632 mln 550 mln dayton hudson 195 602 mln 504 mln zayre 257 327 mln 260 mln montgomery ward 111 277 mln 249 mln
if all the shares of purolator are tendered shareholders would receive for each share 29 dlrs cash six dlrs in debentures and a warrant to buy shares in a subsidiary of pc acquisition containing the us courier operations
money market sources said the surprise announcement might herald a quarter percentage point cut in the central bank intervention rate from the 7 3 4 pct level set march 10 but they added such a cut was relatively unlikely
she declined to give any turnover or profit figures for the packaging and labelling operations beyond saying that they were very profitable
interbank deposits increased to 15852 billion dlrs against 14795 billion and 12003 billion respectively
gerold tandler general secretary of the christian social union party detailing the cuts at a news conference also attended by officials from the christian democratic union and free democratic party said all of the additional 52 billion mark reduction would represent net tax relief
4900 workers the hamtramck plant in detroit 3000 workers and the body assembly plant in flint mich
the largest industrial countries have been attempting to coordinate economic policy in the hope of controlling the decline of the dollar us trade and budget deficits and other problems
the bank said continuing strength of the current account has allowed foreign reserves to be rebuilt to more comfortable levels this has strengthened the authorities hands in lending support to the exchange rate of the rand if such action were to be called for the bank said
convertible peseta funds had been previously exempt from reserve requirements
the par value of bills outstanding was 8007 mln dlrs at march 31
bank fuer gemeinwirtschaft ag bkfgf cut rates 05 pct generally
general motors however did not make any profit sharing payments to its workers while ford made a profit sharing distribution of 372 mln dlrs or 2100 dlrs per worker
as in the first three signups the great plains area is expected to attract the greatest enrollment
refineries should operate near 75 pct of capacity given the current level of demand but the operating level should increase as gasoline demand picks up in the next quarter buckler said
bessemer securities corp a new york investment firm cilluffo associates lp a new york investment partnership and related entities said they bought 156000 intermedics common shares between february 24 and march 9 for 14 mln dlrs
the fund estimated world output would only grow by 27 pct this year versus 29 pct last year and 31 pct in 1985
rotterdam port union and employers to meet
us leading indicators fell 10 pct in jan after revised 23 pct dec rise
protocomdevices prcm sees more profit erosion
government bond prices also surged on the budget with gains in excess of one point pushing yields on long term paper below nine pct for the first time in nearly a year
foreign ministry officials immediately tried to isolate the fall out from the dispute by seeking to separate it from prime minister yasuhiro nakasones planned trip to washington at the end of april
oklahoma farmers prepared 10 pct of their cotton seedbeds 15 points below average the agency said
we simply regard progressive enterprises shares to be worth approximately twice as much as rainbow shares and do not think the merger as proposed is soundly based bil chief executive paul collins said in an interview in the weekly national business review newspaper published today
they have a sinking fund requirement starting in 1998 calculated to retire at least 70 pct of the debentures prior to maturity
but bp said the unit in which swedens ok petroleum ab has a 22 pct stake had performed well both technically and financially up to and including the first quarter of 1987
the purchase price is about 125000 dlrs
s and p affirmed the c rated preferred since preferred dividends were discontinued last year
exports in 1986 87 season at 1025 vs 1025 last month
the company said it expects the sale to close in the next few weeks
mauritius exported 47144 tonnes of sugar tel quel in february down from 57911 tonnes tel quel shipped in january and 89351 in february 1986 the mauritius chamber of agricultures sugar news bulletin said
canadian gypsum co ltd year net
fendt said the rise in imports in february to 127 billion dlrs from 112 billion in february last year was in line with government plans to foster economic growth
the new facility replaces old seven day advances worth 48 billion guilders at the same rate
silas said if the analysts are right that oil prices will rise to 20 dlrs or higher then it seems to make sense to buy phillips he is however more cautious about the strength in crude prices expecting the price to fluctuate between 16 18 dlrs a barrel for the year
the bank of japan will sell tomorrow 500 billion yen of financing bills it holds to help absorb a projected money market surplus money market traders said
delta air lines inc said it completed the acquisition of western air lines inc this morning
international telecharge inc itilo 3rd qtr
its got 69 cents written all over it one dealer said
the yens tendency to rise will prevent japan from expanding domestic demand and undertaking necessary economic restructuring he said
leahys proposal would also allow a larger 1988 wheat set aside if projected stocks surpassed 19 billion bushels
pakistans 1986 87 exports at 36 billion dlrs 182 per cent more than in the previous year and imports at 523 billion dlrs compared to 563 billion dlrs in 1985 86
japanese seen lightening us bond holdings
thera care inc said it agreed to acquire cushing and associates of glendale calif in exchange for 1480000 thera care shares
she said the sums involved are considerable but gave no details
tenders will be received next week for 220 billion dlrs of 91 day bills 120 billion dlrs of 182 day bills and 500 mln dlrs of 364 day bills
this was done because foreign banks felt the xibs reputation would be improved if the three chinese partners collectively held a majority stake he said
the october 1986 import figure consisted entirely of whites from cuba while the november total was made up of 84037 tonnes cuban whites and 51992 tonnes whites from thailand
healthy growth of yen bond futures markets depends basically on substantial liquidity in cash yen bond markets overseas and on the yen becoming attractive to traders there dealers said
malaysia optimistic over economic outlook for 1987
cummins said it expects capital expenditures to total about 155 mln dlrs down from 274 mln dlrs the year before
halbert president and chief executive officer of halbert an abilene investment firm was named chairman and chief executive of summit the company said
continental bank said lloyds bank canada paid the balance of the purchase price but that it was lower than originally anticipated since continental was unable to transfer certain income tax deductions to lloyds bank
fujitsu ltd also has a licensing agreement to make amdahl corp amh computers for sale in the us
the spokesman said het comite will provide financial and legal backing to the test case in the business administration court in the hague
a 12 year tranche caries seven pct interest with an issue price of 10075 while an eight year part issued at 1005 carries a 675 pct
cna income shares inc said it filed with the securities and exchange commission a registration statement covering a 30 mln dlr issue of convertible extendible notes due 1992
it said proxy materials are expected to be maioled this quarter
shr 34 cts vs 119 dlrs net 807000 vs 2858000 assets 5102 mln vs 4797 mln deposits 4723 mln vs 4403 mln loans 2992 mln vs 3272 mln note 4th qtr not available
this is the first time that it has intervened today
the earthquake last thursday night registered six on the 12 point international mercalli scale
its aggressive global strategy began in the 1980s when other canadian trusts the equivalent of us savings and loans were focusing on domestic retail banking
nichemen 10000 tonnes number two ns dns wheat 140 pct protein for may 25 june 20 at 12189 dlrs fob gulf
the company today reported earnings for the year ended january 31 of 6191000 dlrs on sales of 3164 mln dlrs up from prior year earnings of 4257000 dlrs on sales of 2867 mln dlrs
uganda is the worlds fifth largest coffee producer and expects to produce about 200000 tonnes this year
pinto fnmas senior vice president said intermediate term mortgages offer lower interest rates substantial interest savings lower inflation rates and in many cases faster equity build up than longer term mortgages
the us specialty steel industry and its union said they will seek a three year extension of president reagans import restraint program to give the industry more time to restore competitiveness
he declined comment on whether the ibc will adopt a policy of opening registrations for up to six months in advance as some exporters had suggested
speculation even surfaced of a discount rate cut to calm the markets dealers said
norway offers 11th licence round offshore blocks
s and p cited earnings improvement better capital recovery a stable construction program and a sophisticated network as well as financial improvement
the investment includes the purchase of 360537 newly issued dim shares valued at about 51 mln dlrs and a loan of about 33 mln dlrs it said
bags price per 50 kg offered sold average pb 430 430 230478 226721 aa 7289 6834 229292 235896 ab 12664 11895 228999 229113 c 3198 2867 207315 210764 t 876 876 150879 151067 tt 1375 1375 205325 209564 e 159 159 225019 225218 misc 9009 8440 140950 139860 total 35000 32876 average for sale 201493 199494
diablo has a bank offices in danville san ramon and alamo calif security pacific also said
he told reporters this years borrowing forecast exceeded immediate needs but greece wanted to take advantage of low international interest rates in order to make servicing payments at a lower cost
it is the other way round valentchits said
mexico on the other hand dropped to 13 16 from 14 16
resumption of an ico contact group meeting with consumers scheduled for this evening has been postponed until tomorrow delegates said
he said the present trade surplus was vital if his nation was to reduce its 445 billion dlr foreign debt
the total includes 15 billion francs worth of 13 week bills and 25 billion francs of 24 week bills
the bank of england said it had given the money market 206 mln stg of assistance this afternoon and offered the discount houses borrowing facilities to take out the rest of the 110 billion stg shortage revised down from an initial 115 billion estimate
maybe 45 dlrs a share tops he said
continental illinois corp said if the brazilian debt moratorium remains in effect it may place its medium and long term loans to brazil on a cash basis
the federal reserve entered the us government securities market to arrange one billion dlrs of customer repurchase agreements a fed spokesman said
but zambias decision to abandon last may 1 a tough international monetary fund imf economic recovery program has introduced an element of uncertainty into plans to restructure the ailing industry and boost profitability they said
rexham said it does not welcome the proposal but added its board will study the offer and respond in due course
a viacom spokesman said the arsenal holdingss offer continues to include a 20 pct interest in arsenal for present viacom shareholders
sudanese officials said prime minister sadeq al mahdis government would shortly announce a four year economic plan aimed at starting the countrys recovery
winter wheat areas from eastern czechoslovakia through northern romania had light snow flurries yesterday and last night but amounts were an inch or less
corn and sorghum planting progressed and land preparation was ahead of schedule in the plains despite snowy weather
rodney de mel said affected trees less than two years old would undergo base budding attaching a clone as close as possible to the trunks base and cutting off the top of the tree once the bud has taken
the total consideration will be 29 mln us dlrs of which 50 pct will be payable in cash and 50 pct by the issue of 136 mln new ordinary shares in blue arrow
1986 quarter net includes 2300000 dlr provision for loss on future store closings offset by reduction in pension liabilities
this weeks quebec government auction of 85 mln dlrs worth of 91 day treasury bills yielded an average 703 pct up from 685 pct last week a finance department spokesman said
basf ag said the volatile currency situation last year particularly the fall of the dollar led to sharp drops in turnover denominated in marks and to price reductions for exports from domestic production
doe resolves issues with royal dutch rd unit
c itoh finance europe issues eurobond
the commodity credit corporation ccc has accepted one bonus offer from an exporter on the sale of 4400 tonnes of barley malt to nigeria the us agriculture department said
the australian oil industry has the experience and the capacity to serve the nation and its shareholders well if the government would stop putting roadblocks in our way he said
his legislation which also rejects president reagans call to sell the amtrak rail line would affect the states of massachusetts rhode island connecticut new york pennsylvania new jersey delaware and maryland
if the tests had shown abnormal readings they would have been resumed
soft wheat exports in 1987 88 were extremely difficult to estimate at this stage both within the european community and to non ec countries an onic official said
in 1986 it bought three small suburban banks
euratom ecu bond marks rome treaty anniversary
chinese bank to make first foreign borrowing
gencorp gy unit completes wor tv sale
algonquin said the filing would allow its customers to move available spot gas supplies to price competitive markets
us wheat credits for jordan switched
the bank said the issue is divided into two pools one bearing annual interest of 8 3 4 pct and the other 8 5 8 pct with interest calculated semi annually and paid monthly
prospects of higher operating costs were also seen harming earnings he said
the deal is effective march one 1987 expires july one 1997 and is renewable yearly thereafter he said
the agriculture ministry is expected to reduce official intervention prices for beef and pork in 1987 88 starting in april but the cutback ratio has not been set yet industry sources said
nfs financial corp said its board declared an initial dividend of five cts per share payable april 21 to holders of record march 31
the decline mainly reflected a sharp drop in movements out of the mideast gulf which totalled 74 mln tons last month against 1165 mln in january
bank of japan buys dollars around 14900 yen tokyo dealers
currency fluctuations reduced pretax profit by around one mln stg it noted
the council had been closed three years ago by the military government of former president joao figueiredo
pharmacia said the financial deficit was caused by it having used more funds than generated by group operations mainly because of the 136 billion it paid in cash for shares in lkb produkter ab and the assets of intermedics intraocular inc
bush industries inc said that after an audit it has revised upwards its 1986 fourth quarter and year end results
ongpin said manilas 7 8 margin meant the philippines would pay about 100 mln dlrs a year in interest when its grace period ended
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
maxtor mxtr agrees to acquire us design
representatives of these farm groups have said they also fear efforts by midwestern democrats to force a floor vote on a bill that would require large acreage set asides in return for sharply higher support prices
a world bank team led by senior economist katrine saito arrived in uganda for talks on an economic recovery program projected to cost one billion dlrs over three years
the fundamental policy objectives of the united states can best be implemented in a more flexible framework such as through the recent meeting in paris of finance ministers and central bank governors volcker said
official estimates put chinas 1986 export losses from the drop in world oil prices at three billion dlrs
britoil plcs btoll exploration expenditure for the uk in 1987 was likely to be only about a third of the level in 1986 though overseas expenditure would remain approximately the same chief executive david walker said
heublein a former subsidiary of rjr nabisco inc rjr was recently acquired by grand metropolitan plc almaden based in san jose calif makes and sells table wines champagnes and brandies as well as some premium wines under the charles lefranc cellars label
that is 170 basis points below comparable new zealand rates
but if west germany raises interest rates this would run counter to the pledge he said
the company said it is not yet known how long the jetty will be out of use but it hoped that by tomorrow unloading of the bulk carrier mykon wave will be able to continue using temporary arrangements tate and lyle said
the maximum rebate of 44819 european currency units ecus per 100 kilos was 13 ecus below what producers say is needed to obtain the equivalent price to that offered for sales into intervention
mikron instrument co mikr 1st qtr jan 31
pay date is april 14
ortiz mena also said that brazilian authorities have opened negotiations already with commercial banks
herrington says he may recommend tax benefits for us oil industry
the london meat futures exchange lmfe will cease trading in its deliverable pigmeat contract from april 3 the lmfe said
combustion said 3500000 shares will be sold in the us and the remainder overseas
ongc has been exploring the bombay offshore area developed since the late 1970s for more oil as production from bombay high has reached a plateau
south koreas wholesale price index base 1980 rose 04 pct to 1270 in may after a 11 pct rise in april and was 15 pct higher than in may 1986 the bank of korea said
shr 13 cts vs 47 cts net 13492000 vs 46417000 revs 7202 mln vs 7936 mln avg shrs 99085000 vs 96804000 note per share results reflect payment of preferred dividend requirements
harcourt brace jovanovich inc said it has called a special meeting for july 23 for a vote on an increase in authorized common shares to 100 mln from 50 mln an increase in preferred shares to 150 mln from 2500000 and a provision allowing the payment of preferred dividends in stock or property as well as cash
the rating agency said an increase in sosnoffs offer is possible
the treasury said it had closed the offer early in view of the markets response and having taken into account the estimated state borrowing requirement for the current month
other bankers took exception with the degree to which mtns will grow
us energy chief sees promise in oil tax change
the finance ministry had forecast a rise of 03 pct in 1986
the completion of the pipeline would allow ecuador to resume some of production paralysed since march six by an earthquake the night before
western digital corp said it has completed the redemption of its 47 mln dlrs of 6 3 4 pct convertible subordinated debentures due 2011
private consumption will grow by three pct in 1987 and two pct in 1988 against 375 pct in 1986
hutton efh ends purolator pcc bid
for the six months ended february 28 beebas reported net income of 12 mln dlrs on sales of 394 mln dlrs
opec assigned prices to its other key export crudes with a 265 dlr gap between the heaviest and lightest
the economy should also benefit from pump priming expected from the government and a halt in rising prices of manufactured goods it said
moodys reduced to caa from ba 3 texaco capital nv s convertible subordinated eurodebentures
it called the filing part of the companys regularly scheduled funding activities first interstate said the filing brings to 545 billion dlrs the total amount of debt securities covered under this and eight earlier shelf registrations
these securities have become very difficult to sell despite a rise in their yields said one corporate bond trader
bastian industries inc 2nd qtr jan 31 loss
the spokesman declined to comment on us newspaper reports that the purchase price of the remaining stake totalled 173 mln dlrs
it has been accounted for as a discontinued operation since last september
naturally we welcomed the defeat but there is a chance the bill will be resurrected and attached as a rider to another senate bill a spokesman for the united coconut association of the philippines ucap pca chairman jose romero noted the vote was close with eight senators voting for it 10 against and one abstaining
the acquisition represents a diversification in a market sector with annual consumption of 8500 billion lire buitoni said
tanzanian railways secure 256 mln dlrs aid
while analysts and arbitragers have speculated that icahn may have made the offer for usair in order to trigger the acquisition of his own airline wall street today began to take icahns effort more seriously
abdul rachman ramly the president of state oil company pertamina has said that budgeted exploration and production expenditure for all oil companies in indonesia was forecast to fall to 31 billion dlrs in calendar 1987 from 34 billion in 1986
transactions of paper gold also fell up to 75 pct of the volume prior to imposition of the tax he said
bank economists said us pressure on west germany to further ease credit policies had receded since the paris pact
oper shr profit five cts vs loss 171 dlrs oper net profit 196000 vs loss 2388000 sales 405 mln vs 432 mln avg shrs 2212000 vs 1482000 year oper shr profit 71 cts vs loss 624 dlrs oper net profit 1799000 vs loss 8991000 sales 1545 mln vs 1450 mln note net excludes losses from discontinued operations of 712000 dlrs vs 2843000 dlrs in quarter and 1972000 dlrs vs 106 mln dlrs in year
he said his government aims to get jamaicas ratio of debt payments to foreign exchange earnings down from the current level of 50 pct to 25 pct over the next two to three years
investor martin t
the association groups together the main yugoslav iron and steel enterprises
the us treasury said it was willing to participate with several other industrial countries in providing a 500 mln dlr short term bridge loan to argentina
dealers restrained their underlying bearishness and squared positions ahead of wednesdays meeting of the finance ministers and central bankers of the top seven industrialized nations in washington
in a statement to clarify the position csr said it will retain its roma gas unit the associated roma brisbane gas pipeline and the bula oilfield on seram indonesia plus exploration interests in queensland and hainan island china
shr 23 cts vs 23 cts net 319 mln vs 157 mln revs 8769 mln vs 4012 mln avg shrs 1401 mln vs 686 mln nine mths shr 53 cts vs 42 cts net 740 mln vs 289 mln revs 255 billion vs 117 billion avg shrs 1401 mln vs 686 mln note results include acquired bottling companies from dates of acquisition
wholesale prices fell 06 pct in january from december
laurentian group corp said it expects 1987 earnings per share will show about the same proportionate increase as in 1986
gabelli group cuts gencorp gy stake to 63 pct
a statement delivered by the conferences president nicaraguas external trade minister alejandro martinez cuenca said the object of future meetings would be to seek negotiations leading to basic export quotas
the west german company will supply ladles vehicles electrical and exhaust cooling apparatus and dust filters
in its weekly petroleum status report the energy department agency said distillate demand was off 01 pct in the period to 3258 mln bpd from 3260 mln a year earlier
the meeting at this north island tourist resort is described by participants as informal and no declaration is expected
he also said that when debtor countries came up with good confidence inspiring policies commercial banks should react with more flexibility in interest structures maturities and rescheduling
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
in view of the limits to the possibilities monetary policy had in influencing the longer term capital market the association saw little sense in wanting to boost the economy through a short term and expansionist monetary policy
over the past three years the banks disbursement pipeline to the philippines almost completely dried up in 1986 alone the two banks paid out 16 billion pesos in loan repayments about 59 pct of the governments budget deficit of 27 billion pesos for the year they said
the philippines last month won an agreement to reschedule 103 billion dlrs of debt over 17 years at an interest rate of 7 8 pct whereas some 30 billion dlrs in old argentine debt will be stretched out over 19 years with a spread of 13 16 pct
it does not approve of a decrease in prices from current levels and it also does not accept a mad increase that would drive consumers away and make them try and find alternative sources for energy opec agreed last december to cut production after world prices hit new lows in 1986
argentinas agriculture secretariat set new support prices for grains and oilseeds an official statement said
the report showed march 1 stocks of 14 billion bushels of soybeans 83 billion bushels of corn and 23 billion bushels of wheat all below trade guesses
the major gold deposit to be acquired by norgold is 100 pct of the bottle creek deposit west of leonora in western australia nbh said
the lead manager is first boston corp and the co leaders are goldman sachs and co and merrill lynch capital markets she said
zimbabwe began producing 10 mln polypropylene grain bags this year to replace jute bags imported mainly from bangladesh
msr exploration ltd msr year loss
paychex inc payx 3rd qtr feb 28 net
martens said the money is being found through a series of small economies and confirmed that it includes the raising of two billion francs through the sale of part of the governments 50 pct holding in the gas company distrigaz
the dollar has now shed some seven pfennigs since the bundesbanks new tack became clear in early october
natural float ranged from a low of near zero on thursday for which the fed spokesman could give no particular reason to a high of nearly 750 mln dlrs on tuesday
these countries are still prepared to negotiate and the instruments of cooperation developed thus far provide the means to deal with the crisis over time steckhan said
to do something more than that would be extraordinary remarkable and very very difficult collander said the real danger for congress was to end up short of the deficit reduction goal set by its budget panels
citgo last changed its postings on march four
the central banker said resolving the debt crisis would be a struggle since taking over the speakership at the start of the year wright has shown himself an able political adversary of the administration on budget strategy
bond corp holdings ltd bonas of australia said it had no comment on an article in a london evening newspaper speculating on its plans for a bid approach to uk ddrinks and food giant allied lyons plc alldl tony oates bond corps executive director for finance and administration said the company does not comment on market rumors or press conjecture he added in all instances of this kind problems are likely to arise whatever is said
medar earlier said it lost 558800 dlrs in its final 1986 quarter compared to a loss of 469200 dlrs in the same 1985 quarter
alitalia said the drop in north american traffic had been due to a general fall in the numbers of american tourists visiting europe caused by fears of terrorism
the spun off stock will not be saleable for 13 months the company said
french february official reserves rise
there is still a certain hope that the net inflow of foreign money can be diminished or can even be a little bit reversed schlesinger said
mueller brass co said that effective with shipments today it is adjusting the price of all brass mill products except free cutting brass rod and related alloys and copper water tube and related products to reflect contained copper values at 73 cents a pound down two cents
nca corp ncac 4th qtr loss
in august the rate of increase was 110 pct
neyra told peru was current on interest payments on short term debt including trade credit lines and on about 750 mln dlrs in so called working capital credits
under the offer resorts said holders of its class a shares would receive 15 dlrs a share in cash and three shares of common stock in the new company
the ministrys analysis said the reduction in debt servicing during 1987 1989 amounts to an effective grace period something the venezuelan negotiators sought from creditor banks but were not granted
despite the improvement in order rates and operating results year to year pricing continues to be aggressive for many products it said
the issue is guaranteed by general motors acceptance corp
justified calls by debtors for more flexibility from the banks were blocked because us regulations made solutions such as capitalising of interest virtually impossible he said
in a newspaper advertisement the company said the offer withdrawal rights and proration deadline all expire june 30 unless extended
japanese banks are also faced with finding local personnel which is not easy
a drop in the fed funds rate to 5 15 16 today underpinned a decline in bill rates
this rise in inflation will reduce real disposable income growth to only 13 pct in 1987 from 29 pct in 1986
the iea said that initial estimates indicate that company stocks fell by 12 mln bpd in oecd countries in the first quarter of the year
brazil last month suspended interest payments on its 68 billion dlr debt to commercial banks and yesterday suggested an extension of short term credit lines for 60 days until may 31
but the spokeswoman pointed out that many companies are holding talks with the soviets
american cyanamid acy buys uk company
at least 300 mln dlrs of previously cancelled loans were supposed to go to the dbp the world bank sources said
beneficial corp rating lowered by standard and poors affects 37 billion dlrs of debt
we project free world dependence on persian gulf oil at 65 pct by 1995 herrington said
canadian narrowly defined money supply m 1 rose 592 mln dlrs to 3336 billion dlrs in week ended march 4 bank of canada said
braniff bair march load factor off
more than 5 mln hectares of wheat producing land in north china could be affected because relatively warm and dry weather had allowed bacteria and insect eggs to survive the winter the agency added
non callable for three years the issue is rated b 2 by moodys investors and b minus by standard and poors
the budget itself could have an impact depending on how well it is received but analysts say relative interest rates and oil income remain the main influences on the currency
it looks like a reasonably harmonious visit in prospect more harmonious than usual since taking office a year ago chirac has been obliged to deal with a series of potentially serious disputes with the united states
petricioli said he saw the basis for a compromise when the issue comes up again during the international monetary fund and world bank interim meetings next month in washington
morgan stanley ms issues mortgage bonds
most japan firms not renewing iran term contracts
three consecutive days of negotiations ended this afternoon after failing to break the deadlock
the ruling gatt council set up a formal dispute panel to examine a us complaint that a canadian law prohibiting export of unprocessed herring and salmon was discriminatory
diamond shamrock said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
bp australia said it had sold its 33 1 3 stake in chemical maker csbp and farmers ltd yielding an extraordinary profit of 189 mln dlrs and expected to finalise the sale of the 80 pct owned kwinana nitrogen co in the first half of 1987
first mortgage bonds and collateralized pollution control revenue bonds have been raised to dampp 6 middle a from dampp 7 low a debentures raised to dampp 7 from dampp 8 high bbb and preferred stock raised to dampp 8 from dampp 9 middle bbb about 766 mln dlrs of debt is affected
in the buyout a group led by first boston tendered march 13 for all outstanding allegheny shares at 2460 dlrs a share
the banks are not competition for individual stockbroking firms because of the increased business they generate he added
wholesale prices rose 20 pct in the first five months of 1986 while consumer prices rose by 32 pct
includes gains of 988000 dlrs vs one mln dlrs in qtr and 22 mln dlrs vs 11 mln dlrs in year from tax loss carryforwards
finally there is a shortage of lorries to transport the crops
maxtor corp and us design corp usdc said they reached definitive agreement covering the acquisition of us design by maxtor
bankers said sama has proved it is not prepared to see a saudi bank go under and not only supported saudi cairo bank after its troubled 1985 accounts came to light but also made available cheap deposits to saudi investment bank and uscb
wavehill international inc makes purchse
it has been syndicated on a club basis and signing is planned by the end of march
baldrige said he was making his prediction without having seen the february trade figures but he said that the volume of imports has dropped beginning with the fourth quarter of 1986 and will continue to drop in this quarter
the chinese partners are industrial and commercial bank of china fujian branch whose share rose to 235 pct from 15 fujian investment and enterprise corporation 175 pct 15 and xiamen construction and development corporation 10 pct 10 one foreign banker said xiamen international bank faced the same problems as foreign bank branches in trying to compete on unequal terms with state owned banks
hertz corp a unit of ual inc is raising 100 mln dlrs through an offering of notes due 1995 yielding 806 pct said lead manager shearson lehman brothers inc
nusource said shareholders elected a new board consisting of richard a
last week the commission granted licences to end august on 60500 tonnes of whites at a maximum rebate of 44819
the selling concession is 3 4 while management and underwriting each pay 1 4 pct
it said the sale subject to regulatory approval represents a capital gain in excess of 800000 dlrs over the original price paid by cellular for its cellular interests in michigan acquired in december 1986
it said the reserves were equal to about five months worth of imports
saudi to remain as key lpg supplier to japan
triton energy corp said its 70 pct owned canadian worldwide energy ltd affiliates lasmo et al tableland 4 36 2 10w2 well in saskatchewan flowed 567 barrels of 37 degree gravity oil through a 17 64 inch choke from depths of 8531 to 8548 feet and 636 barrels of oil per day through a 20 64 inch choke from depths of 8500 to 8507 feet
ninety six pct of alberta and northeastern british columbia crops have been seeded about a week ahead of the 10 year average according to the alberta wheat pool report
in order for the other carriers to come down to twas wage scale in a merger twa would have to be the surviving entity analysts said
we are still concerned about s and w berisford being long term owners of british sugar a spokesman said
bangladesh port workers end strike
earlier this month talks in london to re introduce export quotas suspended in february 1986 ended in failure
securities and exchange commission chairman john shad said the sec favors shortening the current 10 day period for disclosing takeover attempts but opposes putting restrictions on the use of so called junk bonds
charter oak partners a connecticut investment partnership said it raised its stake in facet enterprises inc to 480000 shares or 96 pct of the total outstanding common stock from 300000 shares or 60 pct
proceeds will be invested in the companys unconsolidated finance subsidiary oakwood acceptance corp oakwood said
they did have a bad effect yes but they only contributed to largely internal economic problems one said
i would like to underwrite a deal a day
madagascar rice crop estimated higher in 1987
galaxy oil gox being delisted by amex
in addition export of components to japan increased with 15 mln dlrs invested in 1986 to expand output of aluminium cylinder heads to 26000 per month from 6000 mmal said
japanese business groups are calling for staged farm reform to shift some of the burden of trade friction and economic restructuring away from the manufacturing sector and onto the farm sector
under the plan 33 yards capable of building ships of more than 10000 gross tons will curtail operations to three mln compensated gross registered tonnes cgrt a year against capacity of about six mln cgrt
republic which is controlled by cincinnati ohio financier carl lindner and his american financial corp said it bought 219000 buckeye units between may 14 and 22 at prices ranging from 2249 to 2302 dlrs each or about 50 mln dlrs total
australian liquid fuel demand is forecast to rise to 680000 bpd in 1992 93 from 565000 in 1985 86 implying a crude oil gap of between 270000 and 360000 bpd in five years time he said
another 409 mln is available immediately under the compensatory financing facility the imfs pool of funds to assist countries hit by export shortfalls
trade sources said the weather up to now could be irrelevant if there is good rainfall in coming weeks
herrington says he may call for oil tax benefits
the british pound has risen to 265793 against 242983
petroleos de venezuela sa the venezuelan state oil company that supplies a large portion of texacos oil also halted shipments two weeks ago yates said
jorge cardenas manager of the national coffee growers federation last week estimated the recent drop of 30 cents a lb in coffee prices would mean a net loss revenue of 457 mln dlrs for colombia
it also said that for the foreseeable future henkel does not intend to increase its participation in clorox above the 30 pct level
for 29 mln dlrs from greenery rehabilitation group inc grgio the buildings will be leased back to greenery for an initial term of seven years subject to renewal options for an additional 23 years health and rehabilitation properties said
stocks surged after news chemical bank cut its prime lending rate half a point to 925 pct tuesday and us fed chairman alan greenspan pledged support for the financial system
first city said the article was not confirmed by the company and it cautioned that there is absotluely nothing to say or report beyond its statement
i dont believe in the slump of the market he said
he added that because of resignations by many seamen there were scarcely any crews left on 38 of these ships
payment date on the issue if april 15 1987 and the first coupon will be short
chairman james baker said 1987 quarterly comparisons will not conform to historical patterns for the year because the acquisitions of schrader and maremond occurred in different quarters
elcor corp said it raised its quarterly common stock dividend to 11 cts a share from nine cts and declared a two for one common stock split
this years proposal called the foreign agricultural investment reform fair act would require the us to vote against loans designed to increase production of surplus commodities and minerals
taiwans leading industrial organisation said it will send its first buying mission to the us later this year in an effort to reduce the countrys trade surplus with washington
chevron chv nippon oil form joint venture
applied biosystems inc abioo 1st qtr sept 30
a five pct tax credit for exploration and development
domestically the economy may get a boost from some loosening of the governments tight fiscal policy said haruo muto manager of national economics at the bank of tokyo ltd
stone said that those electing to convert their holdings to common shares becoming holders of record by may 22 will be entitled to the 20 cts per share quarterly cash dividend payable june 12 as well as the additional shares from the previously announced two for one stock split to be issued on june 12
tokyo bids to stop chip row becoming trade war
the shareholders said they were told that continental materials directors had no interest in selling the company
it was the fourth consecutive year of profit increases for the new york based retailer which was founded over 100 years ago
forstmann little and co said it plans to sell sybron corp unit
loan loss provision 35 mln dlrs vs 70 mln year earlier
gaf gaf seen raising borg warner bor bid
concorde ventures inc said it has signed a letter of intent to acquire englewood colo homebuilder winley inc for 12 mln common shares
certs can be used to repay nonrecourse loans or exchanged for ccc commodities or cash
a world bank mission was due here soon to evaluate emergency loans government officials said
excludes loss from discontinued operations of three cts per share in fourth quarter 1985 and loss of 21 cts per share vs loss 272 dlrs in the year
those us brokers companies have the expertise
but most delegates and traders said quotas before october are unlikely while brazils dauster noted the ico has continued although there were no quotas from 1972 to 1980
the contract expired at midnight march 31
parent net profit 536 mln vs 438 mln
oper shr profit 36 cts vs loss 148 dlrs oper net profit 1353000 vs loss 5551000 revs 113 mln vs 8142000 year oper shr profit 31 cts vs loss 158 dlrs oper net profit 1165000 vs loss 5919000 revs 380 mln vs 316 mln note net includes pretax unusual gain 64000 dlrs vs loss 4744000 dlrs in quarter and losses 30077000 dlrs vs 4744000 dlrs in year
my guess is the commission will decide in three to six weeks whether to reopen hearings fischer said
csx corps sea land corp unit said it will offer improved containership services between puerto rico and the east coast and gulf coast of the united states beginning march 16
in connection with the conversion unicorp will contribute 150 mln dlrs in cash to lincoln
when issued trading presents certain unusual risks because dealers are buying and selling a security that technically does not exist although there is no uncertainty about when it will be issued
earlier today general partners owned by wagner and brown and afg industries inc launched a 100 dlr per share tender offer for gencorp
treasury secretary james baker said he stood by the paris agreement among leading industrial nations to foster exchange rate stability around current levels
the exact amount of the swap will be determined later it said
brazil is increasingly isolated on the producer side
the current account in the two months of january and february swung to a surplus of 11 billion dlrs from a deficit of 494 mln dlrs in the same 1986 period
the feasibility study used a 350 dlr gold price
the number of active oil drilling rigs in the us was 766 last week compared with 1212 rigs one year ago huges tool co ht figures show
the silver copper alloy coin will be minted in an edition of 835 mln a finance ministry statement said
his proposal to revitalize texas oil industry would exempt stripper wells that produce 10 barrels of oil or less each day from the states 46 pct severance tax
a spokesman said the group had no immediate issue plans
the reduction would be compulsory for heavy vehicles with tougher standards imposed for new models from april 1988 and for all new vehicles from october 1990
belgian consumer prices rose 011 pct in march from february to stand 127 pct above the level in march 1986 the economic affairs ministry said in a statement
bancroft bcv files suit against zico
exxons new president lee r
unlike most eurobonds the issue will not be underwritten
irans top war spokesman ali akbar hashemi rafsanjani on tuesday called the us attacks on two of its gulf oil platforms an escalation and promised retaliation
proceeds will be used for general corporate purposes including the financing of new construction and refunding of cumulative preferred stock
he said he had nothing further to add
terms were not disclosed
grindings rose to 55190 tonnes from 53643 in the first 1986 quarter
nissan affiliate to acquire us autoparts maker
international proteins corp said it has agreed to sell in a private placement 330000 common shares at 1175 dlrs a share to a us subsidiary of hanson trust plc
royal resources corp said its board set an april 21 a shareholders meeting to vote on the sale of its oil and gas properties for 3650000 dlrs an increase in authorized common to 20 mln shares from 15 mln and the change of the companys name to royal gold inc
as the leading worldwide supplier of of automation and controls for buildings industry aerospace and defense honeywell is now focusing its management technical and financial resources on high market share business spencer said
1986 qtr and nine mths includes charge 4860000 or 50 cts per share from strengthening reserve for casualty claims
in the 1986 1st qtr pan am reported a net loss of 1184 mln dlrs which included foreign exchange losses of 193 mln
the nymex ordered apex to deliver four mln barrels of heating oil sold via a february 1982 heating oil contract
union carbide corp said its 1986 long term debt was 306 billion dlrs compared to 171 billion dlrs in 1985
in addition us lines sa subsidiaries in brazil and argentina will be sold to american transport
shr 56 cts vs 42 cts net 10030000 vs 7833000 sales 3921 mln vs 3396 mln avg shrs 17966000 vs 18709000
he said the refinery had been closed for longer than originally expected due to the lengthy safety checks being carried out prior to restarting
ec extends parts of free food for poor scheme
walter grossmman s
economic policy decisions made last year in tokyo and at this years meetings of group of 7 finance ministers in paris and in washington cannot be ignored or forgotten he said
the company said its williams natural gas unit which has less take or pay exposure than most major pipelines should show improvement in its 1987 operating results because of changes tariff and federal tax rates
the report said the index is now 12 points or 98 pct above its trough in march 1986
in addition new us soybean plantings are also expected to enter the market around november when malaysian palm oil output peaks
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
his bill would provide for private suits if the acquiring company violated the time period on the tender offer
ps group inc said it and usair group agreed to move up the completion date of usairs acquisition of pacific southwest airlines to april 30 from september 30 originally
and while figures are not yet available for the last quarter the anecdotal evidence suggests that the trend continued traders say
the minimum for a current account is 20 yuan equivalent
norway was not in the market
but houssels said showboats earnings for fiscal 1988 should show a sharp increase from fiscal 1986 levels due to the contribution of the new atlantic city facility
for the first six months of fiscal 1987 savings bonds sales have risen 129 pct from the comparable fiscal 1986 period to 701 billion dlrs from 307 billion dlrs the treasury said
however industry sources were more uncertain about prospects for the deal
the dutch ministry of finance plans a new fixed eight year state loan at an unchanged 6 1 4 pct
santa fe southern pacific corp may have more difficulty combining its two railroads than fending off a possible takeover by henley group heng which has accumulated almost a five pct stake in the real estate and railroad conglomerate analysts said
such bonds in theory would rid these banks of the need to lend money to their former debtors every time a new money package was assembled and has been suggested by argentina in its current negotiations for a new loan of 215 billion dlrs
qtr ended jan 31 shr loss nine cts vs profit 13 cts net loss 231256 vs profit 341730 revs 2793677 vs 3676296
wd 40 co wdfc 2nd qtr feb 28 net
the governments incentive policies towards the mining and petroleum sectors among its main traditional exports suggested that it did not accord high priority to their economic viability it added
cis technologies cih to sell shares to swiss co
the australian dollar eurobond launched yesterday for the republic of austria has been increased to 75 mln dlrs from the original 50 mln credit suisse first boston ltd said as lead manager
new applications for unemployment insurance benefits rose to a seasonally adjusted 355000 in the week ended march 21 from 341000 in the prior week the labor department said
well need very good disappearance next year to reduce stocks she said
saudi arabia doesnt decide prices by itself but certainly desires price stability he said
some prices advanced by as much as 1 1 2 points yesterday as the rest of the market eased back further
he said the company acquired competitive businesses as a matter of routine and might add others in 1987 but declined to say how much the company planned to spend on them
european soy feed market opens quietly
unicorp canada corp told the securities and exchange commission it cut its stake in purolator courier corp to 286500 shares or 37 pct of the total outstanding from 962400 shares or 124 pct
a board of foreign trade official told the government would send two buying missions to america between june and july this year and might send others later
hilton hotels corp expects earnings per share for first quarter fiscal 1987 to march 31 to be about 90 cts compared with 70 cts a year earlier hilton hotels division president carl mottek said
quantech qant needs additional funds
spot dlrs tonne propane butane north sea fob 113 117 125 130 north sea cif 120 125 135 140 mediterranean cif 140 145 175 180 the gulf fob 130 135 140 145 japan c and f 155 160 160 165 official prices fob saudi arabia 3 1 125 125 algeria 3 1 120 130 bp posted price 4 1 110 12300 shell posted price 4 1 113 12300
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
rhm currently has a 229 pct stake in purchases and acceptances
the bill sets out us trade negotiating objectives for the uruguay round of talks under the general agreement on tariffs and trade
the wheat flour purchases complete the export enhancement program initiative announced in april 1986 it said
westmin to raise myra falls capacity by 33 pct
franco german parley fails to unblock farm talks
powell who heads prairie resources corp and mack c
citicorp cci and chase manhattan corp cmb yesterday increased their prime lending rates to 7 3 4 pct from 7 1 2 pct
the underlying rise was 75 pct after 775 pct in december
the greek statement today said greece is not prepared to give up even a trace of its sovereignty rights to the seabed
acme said the management group dropped its bid due to continued weakness in the machine tool industry and in acme precisions operating results and to the inability of the management group to obtain modifications to terms of its financing commitment
if were an example than other resource industries had better watch out he added
imports of colombian coffee were 2169 tonnes 3025 in january 1986 brazilian 483 3715 indonesian 455 145 guatemalan 196 126 cameroun 464 560 and ivory coast 353 839
the tender will be financed with islamic development bank credit
they were obviously regarded as being negative
volkswagen dividend decision due tomorrow
the figure surpassed pdvsas stated goal of 1410 mln bpd and the 1985 export volume of 1371 mln bpd
it said 13 billion pesos of 91 day bills averaged 11249 pct down from 11743 pct the previous week 16 billion of 182 day bills averaged 12473 pct against 12847 pct and 21 billion of 364 day bills averaged 14029 pct against 14233
paperboard to sell 93 mln dlrs of notes
bsn corp bsn 4th qtr net
kaltenbacher to acquire seton for 1575 dlrs per share in cash
it said it indicated it was flexible on price but was told there were certain issues important to sgl management and while they were not conditions to the deal dart was expected to take them into account in putting together its package
pieter van der vorm managing director of graan elevator mij gem which handles 95 pct of grain passing through the port said their main europoort terminal was out of action because of a strike by technical staff
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 174 days 500 pct 500 pct 30 87 days 175 190 days 585 pct 582 pct 88 103 days 191 270 days 500 pct 500 pct 104 179 days 271 288 days 592 pct 585 pct 180 205 days 289 360 days 500 pct 500 pct 206 360 days
investment firm has 53 pct of blasius blaso 
however the agency said it would also consider depressed industry conditions and wainocos ability to operate in that environment
seasonally adjusted figures showed imports rose in february to 716 billion stg from 673 billion in january
combustion engineering csp sees 1st qtr net off
shr 47 cts vs 56 cts net 730 mln vs 850 mln revs 189 billion vs 169 billion note figures reflect the merger of sea land corp completed feb 11 1987
bii enterprises inc year nov 30 net
on average it looks like theyll total 120 to 121 mln dlrs in the first quartrer she said
tanzanian railways secure 256 mln dlrs aid
he added that private investment in the textile and clothing industry in 1983 of 05 pct was less than one seventh the average manufacturing investment of 39 pct
industry sources say japanese buyers are resisting qatars prices and gulf arab oil states have pledged to make up for any shortfall in sales which a fellow gulf state suffers
mclean said us lines has a letter of intent with csx corps csx sea land corp subsidiary to transfer assets of its transpacific hawaii guam service to sea land
the two developments occur as the reagan administration continued to come under fire in congress for its plans to bring 11 kuwaiti tankers under american flags
the very probability of a growth in demand set against the massive investment required for expansion and that expansion only being viable in south africa or russia leads me to conclude that the price of platinum will be substantially underpinned in the medium to long term clark said
japan was ready to use diplomacy to help maintain the security of the gulf prime minister yasuhiro nakasone said
florida citrus processors association said frozen concentrate orange juice movement into trade channels in the week ended march 7 totalled 3915370 gallons versus 3956126 gallons in the week ended february 28 and 4284693 gallons in the corresponding year ago period
triton petroleums assets consist of proven oil reserves of 13 mln barrels exploratory acreage and unspecified working capital and a significant tax loss carryforward
and i think theyve always found that our corn was good he said
bank of england says issuing further one billion stg 8 3 4 pct bonds due 1997
shr 22 cts vs 20 cts net 2963000 vs 2696000 sales 265 mln vs 194 mln
the volume increase was due mainly to a rise in the us where the brand amstel lite saw great demand and in europe where sales accounted for 255 pct of the total
the company said it holds a net 6500 acres in the vicinity of the discovery and a seismic program is underway to evaluate further drilling opportunities
coast said a ruling this week by judge leal freed the company to work with transamericans creditors and other interested parties in developing a reorganization plan
it said the key to the dollars fortunes was the willingness of japanese institutions to buy us government assets despite prospects of sustaining a currency loss
statistics indicate the budget deficit tripled in 1986 to 47 billion forints
treasury balances at the federal reserve fell on march 5 to 3467 billion dlrs from 3939 billion dlrs the previous business day the treasury said in its latest budget statement
in a filing with the securities and exchange commission general partners said proceeds from the sale of gencorps aerospace division would help it repay some of the debt it would incur in the 100 dlr a share cash tender offer
zambias kwacha falls at weekly auction
television reported that the port was operating at full speed but thats not true a striking seaman told 
kuwaiti oil minister sheikh ali al khalifa al sabah said in a newspaper interview that no opec member was exceeding oil production quotas allocated by the 13 nation group
emco sets 75 mln dlr debenture offering
french group issues two bonds for 700 mln francs
kraft kra completes acquisition
manufacturers hanover corp mhc sets dividend
we feel very confident about raising our prices because we see demand over supply as being sustainable for some time said ian rugeroni alcans president of metal sales and recycling usa rugeroni said sheet and can bookings for alcan aluminium were up at a time when the companys total 11 mln tonne north american smelter system had less than a weeks supply
in a filing with the securities and exchange commission the group which includes sun equities corp said it sold a net 365375 computer memories common shares between march 5 and 17 at prices ranging from 3 3 4 to four dlrs a share lowering its stake to 687000 shares or 62 pct of the total outstanding
it said issuance of the letter of credit is still subject to conditions including appropriate documentation but the letter is expected to be issued around april three
however investment bankers noted that ubs was the first foreigner to break into the us market when it won a competitive bidding in june 1986
spot product prices in singapore were little changed in thin early discussions with naphtha and middle distillates quiet on minimal buying interest
1987 2nd quarter and six mth net excludes 2288000 dlrs or 17 cts a share and 4648000 dlrs or 33 cts a share respectively for tax carryforwards
the whole game is bringing out new products and improving the old ones analysts say the chemical industrys biggest customers automobile manufacturers and home builders that use a lot of paints and plastics are expected to buy quantities this year
philippines confirms prepayments on new debt pact
the netherlands recorded a flat trade balance in january with both exports and imports totaling 142 billion guilders a modestly lower compared with december but sharply down from january last year an economics ministry spokesman said quoting official statistics
1986 per share figures not available as bank converted to stock form in august 1986
alberta seeding virtually complete
but he said it may only be a quarter point drop instead of the usual half point to avoid hurting the dollar further
us agriculture secretary richard lyng who is due to visit japan for talks between april 16 27 has said he will ask japan to offer a share of its rice market to us suppliers and remove quotas on us beef and citrus imports
first bank lewiston has assets of 1014 mln dlrs at the end of the first quarter
crane co said it will redeem on march 31 all 75 mln dlrs of its outstanding 8 3 4 pct convertible senior debentures due october 1 2005 at 107875 pct
amstutz could not be reached for comment and an aide to lyng said lyng would not comment on shultzs statements
french finance minister edouard balladur has been in contact with several finance ministers from the group of seven leading industrial countries in particular west german finance minister gerhard stoltenberg to discuss the crisis on world markets finance ministry sources said
iran said several people were injured in mondays us attack on an iranian offshore oil site and vowed retaliation tehran radio reported
during the qtr and nine months period ended febraury 28 1987 the company capitalized pre tax amounts of 746000 dlrs and 1445000 dlrs of development costs respectively
oper shr loss two cts vs profit three cts oper net profit 301000 dlrs vs profit 130000 revs 105 mln vs eight mln note dividends on preferred shares 370000 dlrs vs 51000 dlrs
barclays bank plc bcsl and midland bank plc mdbll said they are cutting their base lending rates to 105 pct from 11 pct
banks held 520 billion marks on february 27 at the bundesbank averaging 510 billion over the whole month just clear of the 505 billion february reserve requirement
france hlm launches 750 mln franc bond
cale as president and chief executive officer when he retires on april 1 1988
shr 10 cts vs 13 cts net 1553000 vs 1541000 revs 731 mln vs 321 mln avg shrs 15474000 vs 12316000 year shr 47 cts vs 24 cts net 7241000 vs 2835000 revs 2162 mln vs 1012 mln avg shrs 15492000 vs 11921000 note net income includes extraordinary profit from recognition of tax loss carryforward of 920000 dlrs or six cts a share in 1986 year and of 785000 dlrs or seven cts a share in both 1985 periods
under the terms of the deal capitive venture capital will issue 16 mln shares of restricted convertible preferred stock convertible into 16 mln shares of common stock in exchange for all outstanding stock of scan graphics
it also plans a filing of 100 mln dlrs of 10 year notes
trade surplus cut would benefit japan sumita
moodys said it is not adjusting gelcos b 2 subordinated debt rating because it remains an appropriate assessment of risk
the company will continually review its position and may nelect to increase or decrease the number of shares owned it added
foreign exchange traders and bank treasurers said these issues and the slide of the lebanese pound can be expected to be major talking points
world bank approves loan for brazil railway
royal bank canada ups us base rate
oper shr eight cts vs eight cts oper net 5219000 vs 4377000 revs 2149 mln vs 1825 mln nine mths oper shr 51 cts vs 51 cts oper net 296 mln vs 279 mln revs 6345 mln vs 5693 mln 1986 net excludes extraordinary gain of 8031000 dlrs or 15 cts shr
us treasury policies said unchanged by departure
powerine refinery to resume operations
the remaining 500 billion yen will yield 38990 pct in a 31 day repurchase pact maturing on may 2 they said
major holdings are likely to be held by the two largest creditor banks standard chartered bank stchl and oversea chinese banking corp ltd ocbmsi they added
mepc issues partly paid eurosterling bond
as part of this study i think the administration will take the fill rate under review herrington said at a house energy subcommittee hearing
fortune systems fsyso approves unit sale
the company said the hog marketing unit did not fit with its strategy of investing in its core businesses
hj heinz hnz elects new chairman
the total number of jobless stood at 508392 compared with 530587 at the end of january and 521219 at the end of february 1986 the statistics office said
australias current account deficit for february is expected to narrow to a range of between 700 mln and one billion dlrs from the unrevised january level of 129 billion market economists polled by said
at that time merrill lynch told the company it would consider a 43 dlr a share tender offer in cash and securities if the borg warner board approved it said
shr 227 dlrs vs 74 cts net 4945989 vs 1612624 revs 282 mln vs 279 mln six mths shr 157 dlrs vs three cts net 3417659 vs 73614 revs 470 mln vs 468 mln note current periods include pretax gain of 43 mln dlrs from sale of leasehold of glen oaks store in queens ny and gain of 19 mln dlrs from benefit of tax loss carryforwards
many cable television companies exhibit greater financial risk because of their asset growth aspirations and debt financed consolidation
they told local banks may decide on the increase at this weekends routine meeting of the hong kong association of banks
stands in these fields were thin and chances of recovery appeared less favorable he said
last year the airline was forced to axe 1000 jobs sell some of its assets and cut the number of its flights across the atlantic and to the middle east following the fall in business
the foundation now controls 141 pct of ericssons voting rights with 223 pct held by the groups investment companies ab investor and forvaltnings ab providentia the move comes after the wallenberg group fought off a hostile takeover bid earlier this month for match and packaging conglomerate swedish match ab smbsst from arms and chemical concern nobel industrier ab noblst by increasing its stake in swedish match to 85 pct from 33 pct
trade bill to change agriculture trade laws
the company said a definitive merger agreement is expected to be negotiated within six weeks and shareholders are expected to vote on the deal at a meeting expected to be held in june or july
west german cocoa grindings within expectations
fed may supply reserves in the money markets
however inclusion of texacos equity in the eastern hemisphere reserves of a nonsubsidiary company limited the decline to 291 billion barrels from 300 billion at the end of 1985
banque paribas which arranged a 220 mln dlr loan for ecuador last year to pre finance oil exports wants to adjust the terms of the facility to help the country recover from a devastating earthquake bankers said
high production costs continue to bedevil the zambian industry
countertrade is helping african countries short of foreign currency to import goods
the bond rose in the first hour of grey market trading to less 7 8 less 5 8 after being quoted at less 1 1 8 less 7 8 in first business
lau also denied any contact with the kadoorie family which analysts estimate has more than 20 pct of hk hotels
shell expects a fall in output of around 10 pct in the current year to around 340000 bpd due mainly to the decline in output from the major brent field he said
political sources said the government of president jose sarney was closely following the strikes and the overall fuel supply situation
the company said 1986 dividend which will be paid to the dutch state in its capacity of the firms sole shareholder would be raised to 98 mln guilders from 70 mln guilders in 1985
british production was on a plateau and was unlikely to increase in the future she said
net loan charge offs were 865 mln up from 607 mln leaving the allowance for loan losses at 6726 mln dlrs at quarters end or 174 pct of loans outstanding compared with 5943 mln or 150 pct a year earlier
trinity industries inc trn 2nd qtr net
coopervision inc said it is preparing a recapitalization plan which includes a common stock repurchase program and an exchange of debt securities for common stock
emhart corp emh set to increase earnings
hanna announced last august that it was in negotiaitons to purchase the company
they pointed out that the ford notes were rated a 1 by moodys investors and aa minus by standard and poors while the general electric notes which had the same interest rate terms and were also non callable to maturity carried top flight aaa ratings by both agencies
he also told the waiver allowed washington to impose quotas on imports of farm products where it had domestic support programs
institutional investors are finding it difficult to find the best price for transactions in uk government bonds gilts and have become more active in the market since the deregulation of the london stock exchange in october agency broker capel cure myers said in a survey
on april 27 the dollar fell to a 40 year low of 13725 yen but has enjoyed a modest recovery over the last few weeks topping 145 yen today for the first time in nearly two months
investors raise stake in purolator pcc 
equion corp equi 2nd qtr jan 31 net
first of america fabko acquires keystone
secretary for finance and economic planning kwesi botchwey made the announcement last night while accepting 7891 tonnes of rice worth about four mln dlrs under a japanese food aid programme
the api recorded a 74 mln barrel stockdraw for us distillates in the week ended march 13
economists criticised the controls saying they could antagonise washington which is pushing for further economic liberalisation in taiwan
ma hanna co hnm to acqure pms consolidated 
with the price outlook for both commodities so dismal traders believe farmers will want to stick with a sure thing rather than gamble on soybeans even though the new crop soybean corn ratio of 29 1 would make planting soybeans more attractive under normal circumstances
german m3 rose 26 billion marks in february to 10351 billion bundesbank
ecuador had enough oil to meet domestic demand for about 35 days and would have to import crude to supplement stocks
resorts has asked bear sterns to obtain complete data he said
channeling the us firms into a single merged competitor would most probably result in diluting cable and wireless share industry analysts said
active timecharter fixing by soviet operators to cover ussr grain imports featured the freight market ship brokers said
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
but brazils unwillingness to concede any of its traditional 3055 pct of its export market share looks likely to preclude any accord other delegates said
bha group inc bhago 2nd qtr march 31 net
bass group emerges as possible taft tfb bidders
they agreed however that further actions will be essential to resist rising protectionist pressures sustain global economic expansion and reduce trade imbalances
the workers affected produce the oldsmobile ciera and pontiac 6000 models a spokesman said
ico exporters to modify new proposal
unocal said its studies showed the cost for the fluidized bed combustion facility would have exceeded 352 mln dlrs compared with an original estimate of 260 mln dlrs
professionals in the grains trade think that farmers will be more willing to stick with corn acres than soybeans because corn is protected by the acreage reduction program
the non callable bond is available in denominations of 1000 and 10000 stg and will be listed in london
japan october december gnp up 08 pct july sept revised 07 rise official
american express raises qtly dividend to 38 cts from 36 cts
critics say this prompts us banks to focus too much on ensuring steady interest payments from debtors in the short term possibly to the detriment of longer term solutions
american intl group inc aig 4th qtr net
quaker also said costs of new store openings and new product introductions will depress earnings in the first half
the company is one of the largest lamb and beef producers in the us producing transporting and selling the products domestically and internationally
he predicted that the us chemical industry which reported a total of 13 billion dlrs in 1986 profits would see a 20 pct gain in earnings this year because of increasing exports cheaper feedstock costs and the weakened us dlr
joe gold said if the necessary operating permits were granted in time it would start gold production in the second half of the year ending october 31 1988 at an annual rate of about 40000 troy ounces
soybean production by contrast is expected to hit a record 80 to 84 mln tonnes which would mean an increase of 111 to 151 pct over last years record figure of 72 to 73 mln tonnes according to private estimates
the sharp fall in international coffee prices will not affect colombias external credit situation finance minister cesar gaviria told 
among the reports options to ease us reliance on foreign oil are several already advocated by the reagan administration
a sinking fund beginning in 1998 to retire five pct of the debt annually can be increased by 200 pct at the companys option giving the debentures an estimated minimum life of 139 years and estimated maximum life of 205 years
the bond carries a 2 1 4 pct coupon and is priced at par
we are prepared to support those steps which we believe are consistent with the development of the indonesian economy he said
the company said last december its would sell the units by mid 1987
it is clear that through the continued application of that strategy australia will make the necessary adjustments in its external accounts and return to a more sustainable growth pattern he added
sumita says little room for bank to ease policy
the other portion of the security consists of a zero coupon bond also maturing at 2002 for which the investor pays 20 cents on the dollar
lvi group inc lvi files preferred offering
lead manager is nomura international inc
major copper producing and consuming countries are considering a us proposal to set up a study group to review the world copper market delegates said
snyder oil partners lp soi sets quarterly
saudi arabia bahrain qatar and the uae are linked in theory to the international monetary funds basket of currencies the special drawing right sdr but in practice to the dollar
mco said the qualfied opinion related to its realization of the carrying amount of its geothermal property and its ability to continue as an ongoing concern which is dependent upon the restructuring of the companys bank debt and other obligations resolution of the uncertainties surrounding its geothermal operations and the success of future operations
the call money rate peaked at just above nine pct ahead of the meeting of finance ministers from the group of five industrial countries and canada on february 22 which restored considerable stability to foreign exchanges after several weeks of turbulence
m
the administration said that the court ordered halt in drilling had created uncertainty over the 42 billion dlrs paid for 621 leases off the shores of alaska since december 1980
exxon xon gains due to streamlined operations
arango said there would be no imminent catastrophe but predicted that over the short term prices would undoubtedly plummet
there is no intention of making any sort of approach to purolator the spokesman told adding it would be a case of david versus goliath interlink shares started trading in the uk unlisted securities market in october 1986
officials said that after the success of the privatisation of cie de saint gobain sgeppa and cie financiere de paribas paripa the government had decided to speed up its five year privatisation program with the aim of completing a third of it this year ahead of the presidential elections expected in 1988
he said the refinery will resume at about half its 178500 barrels per day bpd capacity as work on overhauling the north side of the complex which began at the end of january will not be completed before the end of april
hi shear industries inc hsi sets payout
said it had been given options by a number of sharp shareholders covering 67 pct of the common stock pending completion of a review of the company
but he said he welcomed mercantile and general trading profits in 1986 and was optimistic about both that and the international division
the defensive moves were taken because mark iv had said it planned to elect a majority of its designees as directors at a special holders meeting if it succeeded in acquring a majority of the companys common stock in the offer conrac said
qtly div four cts vs four cts prior pay april 15 record march 20
united security unse to buy robert brown unit
muldoon said in a speech last night the exchange rate should be around 48 us cents instead of the current 57 cents
their borg warner policy has been to stonewall them for the last nine months
standard and poors corp said it raised consumers powers senior debt to bbb minus from bb plus and its subordinated debt to bb plus from bb minus
the department previously said they fell 01 pct
the banks following the trend are the overseas union bank ltd united overseas bank ltd oversea chinese banking corporation and the development bank of singapore ltd the shift towards securitisation has been helped by volatile financial markets which have developed hedging facilities such as floating rate notes and bonds for risk management said overseas union general manager loh hoon sun
it fell about a half yen to around 145
a build is seasonal now and not out of line with last year one futures analyst said
our policy is that we do not comment on any rumors or speculation of this nature a federated spokeswoman said
prices in the year to february rose 316 pct compared with 303 pct in the year to january and 388 pct in the 12 months to february 1986
on friday european currency dealers said european central banks annoyed at restrictive japanese trade practises might leave japan alone to intervene to staunch the rise of the yen
1987 qtr and nine mths includes gain of eight cts per share for the partial redemption of series a preferred stock which will be paid from the net earnings of the chemicals operations
the us said it remains hopeful they can reach an agreement and expressed optimism that such a consensus could be reached said an official who asked not to be named
cheung kong holdings ltd ckghhk year 1986
we do plan to cover the costs by selling philippine investment notes pins worth about 150 mln dlrs a year pins are negotiable foreign currency denominated instruments that will be offered to creditor banks and are designed for conversion into pesos to fund government approved equity investments within the philippines
weston also anticipates using the proceeds for possible acquisitions of related businesses as well as for general corporate purposes
i am optimistic we will be able to come to an agreement maybe not tomorrow or the next day but some time later in the session a consumer delegate said
kurzweil kurm has reduced work force
i believe there is room in the market for a further decline in interest rates reagan said in a statement as he left the white house to visit his wife nancy at bethesda naval hospital
due to certain covenants under the companys 10 3 4 pct subordinated debentures the value rights redemption is contingent upon the success of the units offering it said
southmark said the acquisition makes it the nations largest apartment management firm with over 100000 units under its wing
canadian steel shipments to the us have risen to 57 pct of the us market in recent months almost double the level just two years ago
however it may take some time to replace the financing the source said resulting in what could be a substantial expense to the firm
non callable for life the certificates are rated a top flight aaa by both moodys and standard and poors
falling sales and lower world prices of fertilisers were largely responsible for the sharp increase along with the effects of the dollars fall which has helped to give us fibre producers a competitive edge he told 
it was a smaller deal than expected and somewhat disappointing said analyst george baker at smith barney
year on year m 3 rose 1777 pct from a revised 1534 pct in november and 2050 pct in december 1985
in return america called on the debtor countries to enact economic reforms promoting inflation free economic growth
the purpose of the measures passed by the committee yesterday is to improve stockpile management and discourage sell offs of materials that could jeopardize strategic needs a staff member of the committee told 
reg april 14
crops were considered in generally good condition though it is still too early to judge whether the intense rains of recent weeks caused any long term damage
the hamburg fishmeal market saw little movement in the past week with demand slack as in other protein feed sectors trade sources said
crystal oil co cor 4th qtr loss
inventory was 83422435 versus 81963040 a year ago
an agency spokesman said that if usair which has proposed to buy all of piedmont shares controls more than 51 pct of the firms outstanding stock it will have one week to sell those excess shares
japan opens home market to us fish
we were willing to live in the old smithsonian era with a four pct shift he said referring to permitted currency fluctuations in the early 1970s
while the commercial banks had their doubts about the pins proposal ongpin said there was great interest on the part of certain investment banks which are already active in the secondary market for sovereign debt
he estimated that 33 pct of the companys shares were in foreign hands
in a statement the company said the uk agribusiness group reported excellent profits growth while health products profits rose to 65 mln from 54 mln
an avalon spokeswoman declined to indentify the buyer of deltecs stake or give terms of the sale
it said norhteast had year end receivables of 2700000 dlrs
opec reaffirms commitment to fixed prices ceiling
you have to be impressed with the resiliency of bonds right now said smith barney harris upham analyst craig sloane
diamond is the latest in a line of us oil companies that have cut its contract or posted prices over the last two days citing weak oil markets
ivorian chosen cocoa council executive director
brazil will only lift the partial moratorium on its 113 billion dlr foreign debt after an accord is reached with the private banks the finance ministry said in a statement
lear siegler holding corp plans to divest aerospace subsidiary
beauticontrol cosmetics inc buti 1st qtr net
catenas increase in sales was mainly due to the takeover of safveans ab in february 1986 which changed the business profile of catena
wonnacott said bilateral free trade would contribute to the efficiency of the north american economies and to their competitiveness in facing overseas producers
for the full year hartford said it earned 329 mln dlrs up from 1514 mln dlrs in 1985
it will be made clear especially to our friends in japan and the federal republic of germany that growth oriented domestic policies are needed to bolster the world trading system on which they depend reagan coupled this appeal with a call for compliance with allied accords on exchange rate stability
the company posted net earnings of 115 mln dlrs or 172 dlrs per share on revenues of 1993 mln dlrs for fiscal year 1986
space microwave smli sets securities offering
it estimated 1986 production at 18 mln tonnes and forecast little change for 1987
santos said the outlook for 1987 depended on prices and production volumes but with extra oil exploration and encouraging gas finds there were grounds for optimism
japanese demand for heavy crude oil has increased substantially since the all japan seamans union ceased sailing into the northern mideast gulf last month causing problems with liftings of heavy kuwait and khafji crudes
horiz0n agrees to 948 mln stg bid from bass
japanese crushers bought 5000 to 6000 tonnes of canadian rapeseed for may shipment in export business overnight trade sources said
toronto dominion bank is issuing a 20 billion yen eurobond due april 6 1992 with a 4 5 8 pct coupon and priced at 101 5 8 lead manager nomura international ltd said
president reagan was ready to impose retaliatory trade action against japan for breaking its semiconductor agreement with the united states white house officials said
money market dealers had earlier expressed mixed views on the possibility of quarter point cut
expirations will be january may july and october
japan has sought to assure the us it is not trying to keep foreign equity in a new japanese international telecommunications company below the legal limit of 33 pct a post and telecommunications ministry official said
the fed may add the reserves directly instead via system repurchases
rule was responding to panel chairman howard metzenbaum d ohio who had asked why the department was not acting against what appears to be a clear violation of the law metzenbaum said icahn had failed to file a pre merger notification form with the ftc prior to purchasing more than 15 mln dlrs worth of usair stock
synergy group sells subordinated notes
ranger oil ltd said its previously reported public 75 mln us convertible debenture to be placed in the european market would mature april 28 2002 bear yearly interest of 6 1 2 pct and have a six us dlr a share conversion price
the 120 billion dlrs of 182 day bills were priced at an average 95852 dlrs against 95779 dlrs last week to yield an average 868 pct against 884 pct last week
as a major superpower the united states can influence international organisations he said citing recent meetings aimed at stabilising currencies as an example of the extent to which western nations were prepared to cooperate
wall street stocks loral corp lor 
public hearings on the sanctions are set for april 13
one official today described funaros argument as nonsense and said there had been a considerable flow of funds to brazil for which that country was in arrears
swiss national bank says bought dollars against yen
munsingwear inc mun 4th qtr jan 3 loss
denominations are of 10000 and 100000 francs
graco inc ggg votes quarterly dividend
amro said it was the second time it arranged a bond with debt warrants for aegon
delivery method will be by in line or in well transfer inter facility transfer or pumpover or book transfer and cannot be done earlier than the tenth calendar day of the delivery month according to the exchange
mccormick and co inc mccrk 1st qtr net
the japanese must be prepared to trade some losses on semiconductors in return for free access to other areas said edwards
but some analysts say they fear that balladur chief architect of the governments free market policies may be pursuing a mirage
non refundable for 10 years the debentures will be subject to a sinking fund beginning in 1998
the underlying trend which is a guide to bank of england operations to support the pound on foreign exchanges is net of borrowings and repayments
crosby said that tuition levels from the management consulting service companys courses this month are at the highest level in the companys history
funds have been provided by onpraise to increase the satellite companys working capita
daub was joined by several other lawmakers
it granted export licences for 123000 tonnes of free market barley at a maximum rebate of 13875 ecus per tonne and 25000 tonnes of maize at a maximum rebate of 13375 ecus they said
drs said the deal is subject to approval by the rospatch board and the tender offer expires on march 6 1986
it added factory production might have to be reduced to provide electricity for agriculture if it was needed to fight the drought
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada fell 696 mln dlrs to 21574 billion dlrs
the pound opened three basis points lower at 713 in trade weighted terms at around 159 dlrs and 291 marks
the company said its capital spending for 1987 has been virtually eliminated and that an additional staff reduction of about 20 pct is being implemented today
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
oakwood homes corp said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible subordinated debentures due 2012
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
some said bakers remarks and us trade representative clayton yeutters warning that the us and japan were on the verge of a serious trade conflict showed there was a rift
the mild winter and early reopening of the mid mississippi river this spring have also encouraged the firmer trend in barge freight dealers noted
of the 05 point contribution of domestic demand to october december gnp growth the private sector accounted for 04 point and the public sector 02 the private sector contribution included 03 point for housebuilding 04 for corporate capital outlays and 01 for stockbuilding
if anything the negotiations have become much more confrontational with the debtor countries pressing for more concessions arguing that they face growing political instability if they are asked to do or pay more
bell chairman robert holmes a court who is also a director of standard was not available for comment on his companys intentions in boosting its holding and other company officials contacted here by declined to comment
there is a selling concession of 1 1 4 pct and a combined management and underwriting fee of 5 8 pct
the company said the new credit will also allow it to prepay some other debt and redeem its class c series two preferred stock
mulford says g 6 wants stability
eia says distillate gas stocks off in week
agricultural exports are to be increased by 180 mln dlrs or 48 pct per year on average
ssmc inc said it has executed a letter of understanding to acquire the parts catalog division of cutters exchange inc for an undisclosed amount
qtly div 4 1 2 cts vs 4 1 2 cts prior pay april 15 record march 24
there is still potential for even higher average wheat yields but the iwc said there are increasing signs world output may level off
the ec commission has proposed a tax of up to 330 european currency units ecus a tonne on both imported and ec produced vegetable and marine fats for human consumption which could raise up to two billion ecus a year
avg shrs assume the shares sold to public and employees were outstanding during the entire period
minister of mines patrick chitambala confirmed that zambia had ended copper shipments through south africa and announced that its state run mining company had closed down its liaison office in the white ruled republic
net borrowings in the prior week averaged 451 mln dlrs
heidrun is often cited by the government and industry as the most likely candidate for the first field development project on the haltenbanken exploration tract off central norway
there is no political motivation
first boston co managed the deal
this brought total exports for the first two months of 1987 to 667 billion rand and imports to 415 billion for a total surplus of 252 billion rand against 171 billion a year earlier
philadelphia port closed by tanker crash
he noted that all captial spending will be internally financed
northern telecom proposes two for one stock split
cargo handling companies said they were hiring twice the usual number of dockers to offset an intermittent strike in spanish ports
he also recommended that commercial banks provide 20 billion dlrs in new loans for the debtor countries while the mutilateral banks add some six billion dlrs over three years
citicorp says placing brazil loans on cash basis could cut 1st qtr net by 50 mln dlrs
several tentative signing dates had to be scrapped and even now five months after the loan was agreed with a 13 bank advisory committee on october 16 dozens of mexicos some 400 creditor banks worldwide are still refusing to participate
a ministry statement said both sides had agreed on the need to boost trade links in keeping with an accord signed last year calling for a 50 pct rise in commercial exchanges between the two countries over the next six years
republic said it is offering to acquire its stock at a rate of 1750 dlrs principal amount of debentures per common share
lennar corp len 2nd qtr may 31
tenneco inc a company that has long been rumored to be a takeover candidate rose sharply today when speculation surfaced that investor t
enterra corp said its bank group has reduced its revolving credit agreement to 40 mln dlrs from 60 mln dlrs
acting mayor roel den dunnen said that cooperation between private and public entities in the tokyo and rotterdam area and a fruitful exchange of information have a favourable influence on the flow of goods and services between the two countries
it recently reported first half 1986 87 net fell to 1502 mln dlrs from 1709 mln a year earlier due to the australian housing downturn although foreign earnings rose
oper shr three cts vs three cts oper net 511000 vs 550000 revs 197 mln vs 177 mln avg shrs 15777000 vs 16074000 note earnings exclude gains from utilization of tax loss caryforwards of 398000 dlrs or three cts a share vs 455000 dlrs or three cts a share
the us agency also emphasised the favourable regulatory environment in which japans non life insurers operate
great american first savings bank is issuing a 15 billion yen eurobond due april 2 1992 paying five pct and priced at 101 3 4 pct lead manager nikko securities co europe ltd said
royal said from six months after closing until one year after montagu also has the right to require royal to repurchase any or all of the 200000 shares at 450 dlrs each
li said hong kongs property market remains strong while its economy is performing better than forecast with its largely export led growth
although there have recently been signs of inflation picking up he said that this was due to changes in key commodity prices
under reforms introduced in the late 1970s farmers sign contracts with the state requiring them to grow certain crops but they have considerable freedom in how to use their land
over 25000 tonnes of wheat rice flour and other cereals were required it said along with supplies of sugar lentils dried or canned fish and milk
china remains a cautious and popular borrower they said
special high grade prime western and continuous galvanizing grade with controlled lead now costs 37 1 2 us cents and 50 canadian cents a pound
the increase of 319000 in non farm payroll employment during february was above market expectations for a rise of 170000 to 200000 jobs and sparked selling in treasury bond futures that drove the june contract through key technical support at 101 2 32 at the opening friday they noted
the coffee board was taking about eight weeks to recycle export receipts into payments to local producers whereas export bills handled by local banks took half that time to process they said
egypt wants to settle the debt problem partly to open the door for new cooperation mainly in modernising soviet built steel aluminium and fertiliser plants under a five year development plan ending june 30 1992
since february 1985 the dollar has nearly halved its value against the yen and the mark as part of an officially orchestrated campaign to make us goods more competitive on world markets and redress gaping world trade imbalances
share bid made last wednesday by union pacific corp unp analysts said
it put the 1985 86 crop at 1390 mln tonnes vs 1370 mln last month
ec grants licences for 35000 tonnes barley at 13735 ecus rebate brussels trade
intercare said to date it has incurred about 500000 dlrs in expenses in connection with the proposed offering
elsewhere in far north queensland the bundaberg region and southern queensland the cane is in excellent condition and some mills are forecasting record crops he said
the bills replace maturing paper worth 2485 billion lire of which 1985 billion was in the hands of market operators and the remainder with the bank of italy
a recent drillhole east of the current shaft and 600 feet from the reserve boundary intersected three zones grading respectively 0708 ounce per ton over 54 feet at depth of 650 feet 0706 ounce over seven feet at depth of 765 feet and 0418 ounce over one foot at depth of 1000 feet
some bankers had feared that banks would refuse to lend new money so soon after taking a hit on the old loans but todays news delivers a decisive rebuff to those skeptics
sir nicholas goodison chairman of the london stock exchange said in new york yesterday that sanctions against japanese financial institutions operating in the uk would set back londons ambition to become a leading centre for corporate financing and securities trading
nonetheless the pricing procedure did not prevent shultz from saying the soviets were chortling because washington was offering soviet housewives cheaper grain than that available to us housewives
although there was inflation at least the economy worked a leading bank economist said
other primes range from 1825 to 185 pct including those of the other three majors
when he left burlington in november 1985 burlington said he signed a contract promising never to divulge inside information about the company
in hawaii area harvested may decline slightly this year but likely will be offset again in 1987 by increased yields said eiler ravnholt vice president of the hawaiian sugar planters association
shr loss 151 dlrs vs profit eight cts net loss 7377000 vs profit 384000 sales 1593000 vs 4366000 nine mths shr loss 224 dlrs vs profit 16 cts net loss 11083000 vs profit 628000 sales 6517000 vs 126 mln avg shrs 4941000 vs 3926000
the department said about 2600 american citizens live in iran the overwhelming majority dual nationalities
subscriptions to 500 mln guilders were met in full amounts above 500 mln at 35 pct
the company did not elaborate on production figures for the property
astec industries inc aste 4th qtr dec 31
the venezuelan company also signed a 25 year feedstock agreement with the partnership to supply at least 140000 barrels a day of venezuelan crude oil and naphtha at market related prices
latex crepe prices were unchanged with the best one x selling at 2092 rupees
martin ny said the awarding of the contract is subject to congressional review
and we will have to see if the united states is able to do what they promised in paris on reducing the budget deficit and get it through congress he added
standard oil co said the friendswood development number one well in the fostoria or deep wilcox field of montgomery county texas flowed 4500000 cubic feet of natural gas per day from depths of 14252 to 14486 feet through a 14 64 inch choke
these are some of the questions we need to discuss when asked if he felt the united states has benefitted from the agreement lyng said i dont know
first federal of michigan ffom dividend hike
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
the governor said the six major industrial nations are expected to review last months pact on currency stability when they meet next in april
argentinas alfonsin meets imf chief camdessus
1986 net excludes extraordinary loss 1167000 dlrs in quarter and gain 628000 dlrs in year
the post and telecommunications ministry has urged the merger of the two firms because it says the market can only support a single kdd competitor
shr 10 cts vs 10 cts net 131000 vs 135000 revs 4222000 vs 3656000 avg shrs 1278529 vs 1356672 nine mths shr 31 cts vs 31 cts net 406000 vs 426000 revs 123 mln vs 110 mln avg shrs 1330511 vs 1361421
us feeder steer price
terms were not disclosed
the package includes 84 mln dlrs of cmos with an average life of 11 years priced to yield 688 pct and 235 mln dlrs of bonds with a 55 year average life and eight pct return
these firms with combined revenues of about one mln dlrs are providers of speech pathology physical therapy and occupational therapy services
the department said the cattle are for delivery may 7 june 7 1987 and the bonus awarded was 188806 dlrs per head
the argentine grain board adjusted minimum export prices of grain and oilseed products in dlrs per tonne fob previous in brackets as follows sunflowerseed cake and expellers 99 97 pellets 97 95 and meal 95 93 sunflowerseed oil for shipments through may 308 300 and june onwards 314 307 linseed cake and expellers 137 136 pellets 115 114 and meal 105 104 all for shipments through june
about 92 pct of its sales were to the military
these rises were balanced by a 16 billion guilders rise in the treasurys account at the bank made up mainly of repayments on housing loans by local authorities
firm acquires american nutrition works inc 
pending government approval of the scheme the field could come on stream in 1992 making it norways northermost field development and the first such project on the haltenbanken tract off central norway
viacom via merger expected in 60 to 90 days
none of the four major uk clearing banks now has a dealing room on the island
he said south africa already had repaid five pct of the debt under the standstill agreement expiring on june 30 1987
the group which currently holds 318900 cardis common shares consists of new york based brookehill partners and its two subsidiaries brookehill equities inc a brokerage and moore grossman and derose inc an investment advisor
this years crop is doubly susceptible because poor prices mean farmers were not encouraged to invest in fertilisers and insecticides and are also unlikely to treat against pod rot
nissan hopes to begin uk exports to europe in 1991 after building an engine machining plant which would boost output to 100000 units a year and local content to above 80 pct in accordance with ec requests the spokesman said
moodys said it assigned a aa2 rating to toyota motor credit cos 23 billion yen of 4 1 2 pct euroyen bonds due 1992
qtly div nine cts pay april 30 record april six
we are also expecting to be in the black in the first quarter 1987 heminghaus added
rounding out the financing is a 525 mln dlr tranche of floating rate cmos
storehouse convertible bond raised to 69 mln stg
the reduction is effective immediately
it said it expects to acquisition to result in a substantial sales increase
more
henry sweetbaum is chairman and chief executive of both cityquest and wickes and it was intended that cityquests name would be changed to wickes in due course
spot oil prices surged on friday in late us trading as the market anticipated an opec agreement on second half 1987 output
it said the distribution is payable march 20 to shareholders of record march two
currently about three quarters of this years iso 800000 stg budget has not been paid but delegates said the us caused controversy as it said it might not pay its full contribution in the last year of the current pact
the taiwan dollar advanced more than 15 pct against the us dollar since september 1985
energy and mines minister arturo hernandez grisanti said the conference has no set agenda but one entire session friday will be devoted to proposals for a tax on imported oil
the trade deficit which hit an estimated record 696 billion dlrs in 1985 86 is expected to decline to 56 billion in the current fiscal year
the area could contain potentially recoverable oil resources of more than 92 billion barrels an amount nearly equal to the prudhoe bay oil field which currently provides almost one fifth of us domestic production hodel said
spain unveils a 105 billion peseta plan this month aimed at boosting exports to reach european community levels director general of the infe export institute apolonio ruiz ligero said
figueroa said gdp grew by almost nine pct in 1986 while inflation dropped to 63 pct from an annual rate of 280 pct in the first half of 1985
the estimated average price increase anticipated by members for the remainder of 1987 is 21 pct
the companys total revenues in 1986 declined to 4823 mln dlrs from 7625 mln dlrs the previous year
mario branco peres president of the brazilian association of citrus juice industries abrassuco welcomed a decision by the us commerce department sharply cutting its duties on imported frozen concentrated orange juice fcoj from brazil
bond corp holdings ltd bonas and atlas consolidated mining and development corp atlcmn are still holding talks on a bail out package for the troubled mining firm an atlas statement said
american express is in a position where they can raise capital if they need to said larry eckenfelder of prudential bache securities
hogan systems inc said it acquired systems 4 inc of durango colo for 17 mln dlrs
mexicos proven reserves of liquid hydrocarbons at end 1986 were 70 billion barrels slightly down from 709 billion a year ago and 7175 billion in 1984 the state oil company petroleos mexicanos pemex announced
wheat from the river plate and buenos aires to sri lanka received 26 dlrs
he told reporters at an energy conference in jakarta that opec had decided to maintain its price level of 18 dlrs
in january export prices fell 03 pct against december to stand 30 pct lower than in january 1986
the 300 mln dlrs will go to el salvador honduras guatemala and costa rica while another 12 mln dlrs was allocated to replace the earthquake damaged us embassy in san salvador
however it is difficult to determine now whether this gain will be sufficient to offset the expected operating loss the company said in a statement
she said if the banks refused to lend the new money the philippines should copy brazils action last week in freezing all debt repayments
there was no revision in the 09 pct increase in the leading indicators index for november
the bonds are callable on april 15 1992 at par and at any time for tax reasons
this is the second seven year yen issue in two days a sector of the yield curve in japan that dealers feel has not yet become overpriced
natures bounty inc nbty year loss
an additional 228000 tonnes of durum wheat are available to algeria under the departments export enhancement program sims said
the bonds will be availalbe in book entry form only it said
the bank of england said it has forecast a flat position in the money market today
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 217150 wrather common shares on may 28 and 29 at 2000 dlrs a share or 43 mln dlrs total
talking point purolator courier corp pcc 
the software if being offered for a one time setup charge of 1000 dlrs
fiat unit issues 100 mln dlr bond and warrants
official statistics show a reduction in consumption of vodka but this is a deceptive statistic it does not count home brew pravda said
it said the view now held is that the strategic petroleum reserve to be tapped in times of shortages should be increased by 100000 barrels a day rather than 35000 as called for in the 1988 budget
this gain he said will be balanced in 1987 by a return to profitability by aseas power transmission segment which had a loss of 183 mln crowns or 269 mln dlrs last year
shr 20 cts vs 21 cts net 783564 vs 806278 year shr 89 cts vs 86 cts net 3443392 vs 3242588 notefull company name is continental general insurance co net includes profit from sale of securities of 155410 dlrs or four cts a share and 192896 dlrs or five cts a share respectively in 1986 qtr and year and of 12879 dlrs or nil per share in 1985 qtr
meatpackers at the plant have been working without a contract since the old pact expired january 31 ufcwu spokesman john mancuso said
in 1986 time reported earnings of 595 dlrs per share including a number of special items
the sources said romero urged that other ec countries should take some of the imports to prevent disturbance of the spanish market
one dealer said if the central bank wanted lower interest rates it would first of all drive call money rates down banks remained relatively well stocked with minimum reserve assets
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
pep boys manny moe and jack inc pby 1st qtr
the pound rose to 15870 dlrs from 15764 yesterday and 15400 february 23 the day after the paris meeting
the offer which has been approved by the holly board and is to be followed by a merger in which remaining shares are to be exchanged for cumulative redeemable exchangeable preferred stock is conditioned on receipt of at least 664400 shares which would give plum a two thirds interest and the receipt of financing
no single nation could substitute for saudi arabia as an lpg supply source to japan the sources said
kato said japan will maintain its current level of self sufficiency and will try not to produce surplus rice because potential production is higher than domestic demand
frank b
a sinking fund starts in 1998 to retire 76 pct of the debentures by maturity giving them an estimated maximum life of 224 years
taiwans maize import commitments are expected to rise to 970000 tonnes in the first four months of 1987 from 870000 tonnes a year earlier a spokesman for the joint committee of maize importers told 
earnings per share fell to 464 guilders from 548 in 1985 on turnover of 6278 mln down from 6626 mln
ec agrees reduction of diesel exhaust emissions
shr 14 cts vs 14 cts net 213000 vs 210000 revs 229 mln vs 229 mln nine months shr 42 cts vs 42 cts net 630000 vs 628000 revs 689000 vs 689000 note full name pittsburgh and west virginia railroad
industry estimates vary on the proportion of opec oil exports actually sold at official prices
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
investor group puts pressure on gencorp gy 
australian reserve bank cuts rediscount rate
the agreement with troon requires troon to advance 65 mln dlrs partially secured by a first mortgage lien on the companys interest in its natural gas pipeline partnership and troon to tender 100000 principal amount of debentures to chapman
most analysts dismissed the rumours saying it was an old story and one commented that it was utter rubbish adding he thought unilever would not be interested in gillette
the terms and conditions of the offer will be described in documents to be filed with the securities and exchange commission and mailed to conrac shareholders as soon as possible
the acquisition is subject to obtaining approvals waivers and forbearances from the federal home loan bank board and other government approvals
global natural resources inc gnr 4th qtr loss
drawings under the five year facility will be subject to a cap rate of 1 8 pct over the london interbank offered rate or acceptance commission
ohio art co oar sets quarterly
insee changed its base year to 1980 from 1970 last month
cip inc wholly owned by canadian pacific ltd is considering building a pulp mill in texas which would use kenaf fibre instead of wood cip president cecil slenniken said in an interview
the supplies shortage should prove temporary however because the thai cabinet is expected to review a mineral resources department proposal to reinstate the low taxes late this month yoot said
the issue will consist of four maturities 8 pct bonds due july 1 1990 8 1 4 pct bonds due march 1 1994 8 1 4 pct bonds due march 1 1997 8 1 2 pct bonds due june 1 2011
it said each 100 shares will be exchanged for 1000 dlrs principal amount of 14375 pct senior subordinated debentures due june 15 2002
gosper said the results reflected heavy reliance on downstream oil and chemicals poor coal and metal returns and the financial burden of the north west shelf gas project
zambian central banker criticises imf policies
mexico gets 205 mln dlrs in world bank loans
security council calls talks after gulf attack
aldershot will pay a certain number of shares of common stock based on book value and up to a maximum of one mln shares under a formula linked to the next five years pre tax net revenues
the response of argentinas 350 foreign bank creditors had been eagerly awaited because the package is the first to be marketed since us banks led by citibank decided to take large second quarter losses in order to boost their reserves against existing loans to developing countries
kansas republican congressman pat roberts urged the reagan administration to offer export enhancement program eep subsidies to the soviet union
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
in the fourth quarter of 1986 hughes earned 317 mln dlrs on sales of 2157 mln dlrs
stoltenberg sees moves to strengthen paris accord
the loan to be disbursed over two years from next july is for chemicals cement steel and machinery imports and for setting up a power plant in eastern sylhet district they said
atlantis group inc said it bought 100000 shares of charter crellin inc common stock or 63 pct of the total outstanding and may seek control in a negotiated transaction
dom republic sells czarnikow 35000 tons sugar
he said it was a natural step for an internationally known company whose shares are noted in tokyo and stockholm and are traded over the counter in the united states
hepworth ceramic holdings plc hepcl said it had agreed to sell its western plastics corp unit to globe machine manufacturing co for 1625 mln dlrs cash
du plessis said no political demands were made by the banks and south africa was now rapidly returning to very good relations with its foreign creditors
a general improvement in air traffic last year contributed to cathays revenue increase but the companys load factor declined because of increased competition and an expansion of its fleet and services
general cinema corp said it expects flat net income for fiscal 1987 ending oct
government cash balances fell 117 billion dlrs to 463 billion dlrs in week ended april 1
the house ways and means committee is moving toward passage of a trade bill that sponsors said was intended to help open foreign markets to us agricultural goods and to modify some us agricultural trade laws
the mortgages were originated by security pacific in california
fed may add reserves to banking system
under the newly structured company memory said it expects to report consolidated sales of 18 mln dlrs to 20 mln dlrs and should be profitable before allowing for extraordinary items related to the acquisition
digital comm dcai wins favorable ruling
the council reconvenes at 0930 gmt tomorrow although delegates said the morning is likely to be taken up with minor technical matters and the main issue will probably not be discussed before the afternoon session
cargill 10000 tonnes number two srw wheat for april 10 may 5 at 12088 dlrs fob gulf
however this was mainly designed to prevent a grey market springing up in equities prior to listing
physio technology said it is changing its field sales force to independent representatives and dealers from employees to significantly reduce its fixed overhead its statement did not indicate how many employees would be affected by the move
nomura international ltd said it is using a special purpose issuing vehicle lives 2 ltd to repackage part of the denmarks 7 1 8 pct dollar straight issue launched by nomura on january 8 this year and due 1992 into a zero coupon 17 billion yen bond priced at 82 1 4 pct
jwt approved additional lump sum payments of one years compensation to an unspecified number of other highly paid company officials
the mayor added that british french and japanese firms had already contacted the shanghai authorities with proposals on the underground railway project
it said the acquisition is subject to negotiation of a final agreement
morocco likely to get over 100 mln dlrs in aid
wtd industries inc wtdi 3rd qtr jan 31 net
the prices were set at 44 dlrs a tonne for neryungrinsky coal and at 4380 dlrs for kuznetsky coal fob
the canadian governments reduced borrowing needs enabled the bank of canada to make aggressive use of short term debt instruments and pare the cost of financing in 1986 the central bank said in its annual report
the talks began in washington yesterday and tanjug said the general attitude of the banks was favourable at the same time other tanjug reports showed yugoslavia is having difficulties in obtaining a 600 mln ecu loan from the european community ec and in receiving money owed to yugoslav firms by middle eastern countries
hata speaking at the first session of the two day meeting said agriculture is no exception to the goal of restructuring the economy but did not elaborate
another senior administration official said he was perplexed by funaros decision to discuss the latest crisis with governments and not with creditor banks at a time when brazil is in danger of losing short term credit lines
french january payments surplus 03 billion francs 38 billion december surplus official
in addition to the purchase price csr will share equally in any returns due to increases in crude oil and condensate prices over certain levels for liquids produced from delhis interests in the next two years the statement said
calny inc said it has received an offer to be acquired by pepsico inc which already owns 99 pct of calny stock for 1150 dlrs per share subject to approval by pepsico and calny boards and calny shareholders
the news agency said amoco plans to drill a second well in the area this year but gave no further details
us weekly soybean crush 21782929 bushels
mathematical applications group inc said it has signed a letter of intent to sell all of its operating business and will propose a plan of liquidation following the sale
although alaska housing finance will set the interest rates relative to libor for the euronotes merrill lynch noted that it would not seek to issue the notes with a margin in excess of 02125 pct per annum
revenues for the year ended august 31 will be about 12 billion dlrs including gsx corp the us waste services unit acquired from imasco ltd last year for 358 mln dlrs laidlaw president michael de groote told analysts
i cant visualize where they wouldnt want it to be done said donaldson lufkin jenrette analyst richard henderson
listing will be on all eight west german stock exchanges
st
the proposed sale is subject to approval by borg warners directors it said
senate panel studies loan rate set aside plans
steel technologies sttx in joint venture
officials of the two companies were not available for comment and the num said it was trying to start negotiations with management
rainier which last month agreed to merge with security pacific corp spc said the united acquisition will increase its assets to 98 billion dlrs from the 92 billion reported at the end of 1986
shr 33 cts vs 27 cts net 3588000 vs 2981000 revs 378 mln vs 316 mln nine mths shr 72 cts vs 76 cts net 7843000 vs 8344000 revs 1033 mln vs 908 mln
usda today transmitted to congress a package of legislative proposals including bills that would cut target prices and speed up loan rate reductions
but prices should be somewhat higher than the present levels to justify development of the juha field he said
the basis for the talks is the gatt ministerial declaration last september in punta del este uruguay and the subsequent trade negotiating plan agreed in geneva
when asked whether gaf would consider selling the non chemical assets of borg warner if its takeover offer is accepted heyman declined to comment
dealers said federal funds were trading at 6 3 8 pct when the fed began its temporary and indirect supply of reserves to the banking system
the transaction is expected to be complete by june 11
veslefrikks oil will be landed via the nearby oseberg field pipeline at the sture crude terminal near bergen
president leon febres cordero said ecuador would honour its debt when it had the capacity to make payments but said foreign banks had calculated oil would have to be 25 dlrs a barrel for ecuador to meet its commitments
james capel estimates average fuel prices for the airline industry in 1986 at 63 us cents per gallon 27 pct below the 1985 level
investor boosts first western fwes stake
the executive said tandem will increase its research and development spending to about 100 mln dlrs this year from 87 mln dlrs in fiscal 1986
equally significant was the decline in both private and government spending they said
the spokesman quoted wallis as saying drastic measures would be needed to stave off protectionist legislation by congress
holt noted the rather loose inflation forecast of 40 pct at end 1987 and said the lower interest rates likely to result from the tough fiscal stance could cause longer term concern
the company said sales for the first nine weeks of the year were up six pct to 259 mln dlrs from 245 mln dlrs a year before with same store sales up two pct
singapore petroleum co raises oil product postings
it will be advised by bci and managed by a company owned jointly by barings and the management of bci
salomon brothers asia ltd will have one pct while sg warburg and co ltd goldman sachs international corp jardine fleming securities ltd first boston corp merrill lynch securities co and morgan stanley and co inc will each have 05 pct
the companys done a lot of restructuring more than the markets given them credit for she said
the 13 nation opec agreed in december to cut its production ceiling by 725 pct to 158 mln bpd and abide by fixed prices averaging 18 dlrs a barrel from february 1
triton energy oil affiliate in canadian find
local banks floated shares to raise extra capital while the branches of foreign banks brought in additional cash
deputy secretary peter myers said the action was being taken to help alleviate the short supply of oats
four international firms shared the business which gave each of them sales of two cargoes of mar apr shipment sugar at 233 dlrs cif and options on two cargoes of apr may
the gao then decided to re examine the costs sources said
terrano corp trno year dec 31 oper net
mexico might supply ecuadors south korean market
put on your helmets giordano said
masstor systems corp said it it signed a volume purchase agreement with national westminster bank plc worth up to 73 mln dlrs
deutsche bank sees slow start to 1987
laser photonics inc said it completed a previously announced sale of 615385 shares or 18 pct of its common stock to a group of investors for one mln dlrs
its substantial reserves of crude oil and natural gas put it in a good position to benefit from any price recovery
he also said an investment banker repesenting him met with myers officers telling them of his plans for a takeover and that he may solicit proxies for a seat on myers board
under these cicumstances farmers would not want to go along with 0 92
guinness completes unit sales worth 2326 mln stg
the offer is conditioned on receipt of at least a majority of allegheny voting power on a fully diluted basis and on receipt of at least two thirds each of the preference and preferred shares
weinberger said the platform had been used as a military base by iran and that the attack responded to an iranian silkworm missile strike on the us flagged kuwaiti tanker sea isle city on friday
japan also agreed to consider stimulative measures after the japanese budget was made final
isuzu motor ltd isumt will pay no dividend for the first half year ending april 30 1987 as the company is expected to mark a 12 billion yen parent company current loss in the first half due to slow exports caused by the yens appreciation a company spokesman said
the american stock exchange said as previously reported that bear stearns and co bsc has purchased w
australian wheat exports in 1986 87 are forecast at 1450 mln tonnes vs 1500 mln tonnes last month while exports in 1985 86 are estimated at 1596 mln tonnes vs 1596 mln last month
bankers said the shake up was a result of participants pushing the market up too fast in january amid intense speculation that the hong kong dollars 780 peg rate against the us dollar would soon be changed
tax adjustments 19 mln stg credit vs nil making 26 mln stg credit vs three mln debit
it said it expected west germany to post a 31 billion dlr payments surplus and japan a 76 billion dlr surplus this year
managing underwriter for the issue is shearson lehman brothers inc
wr grace and co said it completed the sale of its bermans the leather experts retail business to a new company in a management led buyout
but bullish expectations are already partially reflected in todays gains they added
uk february adjusted sterling m3 rises 2 1 4 pct m0 down 3 4 to one pct official
under the agreement control data will continue to furnish disk drives to unisys it said
the official said indicators would be used to measure policy objectives of industrial countries and their economic projections
wtc international nv said it has sold its affiliates in south africa to an independent trust created to continue the operations in that country
differentials were fixed as follows country differential stg tonne malaysia 0 brazil 55 ivory coast 67 cameroun 77 nigeria 120 togo 130 ghana 137 nigerias differential is on landed weight terms
icahn said the sec is looking into whether he and others whom he did not name violated securities laws by acquiring and selling more than five pct of a companys stock
the europeesche which specialises in travel and recreation insurance had a premium income of 150 mln guilders in 1986
something will be done at the g 5 and g 7 meeting to calm people said david horner of merrill lynch economics
green tree acceptance inc gnt 1st qtr net
shr 15 cts vs 12 cts net 1240939 dlrs vs 989714 dlrs revs 329 mln dlrs vs 211 mln dlrs note first quarter ended may 31
people ridesharing systems ride 1st qtr net
note company floated in april 1986 and is now 5023 pct owned by swire pacific ltd swpchk 1643 pct by hongkong and shanghai banking corp hkbhhk and 125 pct by china international trust and investment corp
the four assay offices also marked 832222 foreign gold articles up 25 pct on last year
american express co said it and its shearson lehman brothers inc subsidiary have been holding talks on the possible equity investment in shearson lehman by nippon life insurance co of japan
the perception of japan in the us congress is very bad one official told 
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
he said the marketing ministry has authorised the coffee marketing board to supply his company unipack with 24000 tonnes of beans a year for processing and export
viner and co had regulatory capital of 245 mln us dlrs at year end 1986
adebayo adedeji the executive secretary of the un economic commission for africa told the meeting that there was an increasing net outflow of resources from africa
taft agreed in november to sell the stations in philadelphia washington miami fort worth dallas and houston tvx broadcast for 240 mln dlrs
furniture ufurf ups bench craft sofa stake
both markets were pushed higher by an ebullient pound and renewed buying by uk institutions following chancellor of the exchequers nigel lawsons well received budget yesterday
a caesars spokesman said the company would not comment further on its decision
myers industries inc mye 1st qtr net
brown forman today reported a 37 pct increase in third quarter profits to 216 mln dlrs or 100 dlr a share on a seven pct increase in sales to a record 337 mln dlrs
but what would be useful is a greater differential in interest rates he said
idc services idcso holders offered 16 dlrs
victorias aluvic ltd on behalf of the state government will hold a 25 pct equity stake in the project which is intended as a sister plant to victorias portland aluminium smelter
gelco corp gel 2nd qtr jan 31 net
retail energy prices rose by 03 pct less than januarys 11 pct increase
qtly div 10 cts vs 10 cts prior payable may one record april 15
it is too early to say if china can retain its current market share in 1988 tracomin said
on february 10 chrysler financial sold 200 mln dlrs of same rated seven year notes priced to yield 813 pct or 100 basis points over treasuries
us wheat growers want eep to soviet union
club med inc cmi 1st qtr jan 31 net
no grain shipments to the ussr usda
the all items index base 1980 rose a monthly 08 pct in january to 2339 after also rising 08 pct in december to 2321 a year ago the index stood at 2036 and year on year producer price inflation at 222 pct
the increase in september housing starts was the largest since a 108 pct gain in starts in december 1986 commerce department officials said
the stalemate over farm prices is seen as a key to providing a solution to a long term settlement of the communitys worst ever budget crisis
jan 31 end shr 140 dlrs vs 110 dlrs net 164 mln vs 129 mln revs 1962 mln vs 1575 mln
mim will also take another 10 pct now held by degussa ag reducing degussas share to 30 pct from 40
chile is said to have good catches in northern and southern fishing grounds with offers unchanged at 330 dlrs per tonne c and f north german ports
investors believe these banks are also exposed to latin and other debtor countries
comprehensive care corp cmph 3rd qtr net
he did not elaborate
the diw and ifo forecast the economy would pick up after a slow start to the year
the fourth quarter figure was in line with cso projections released on friday
wang took the company public in 1981 and since then he has bought 15 companies and boosted annual sales from 185 mln to 3093 mln dlrs for the year ended march 31
brazils sept trade surplus highest of the year
saito called on each g 7 member nation to prepare to intervene in the market strongly enough to ensure exchange rates are stabilised at appropriate levels
were still closing our books on the first quarter so i dont have final numbers for you he said
pakistani officials estimate the countrys cotton output from the current crop at a record 76 mln bales 375 pounds each last years output totalled 72 mln bales and domestic consumption was just below three mln bales they said
corrects headline and dividend figure in item appearing march 17 to show dividend was raised
younger told a us chamber of commerce meeting that us legislators were failing to realise the true nature of the two way street in terms of ideas technology and equipment
augat inc aug sets quarterly dividend
but lucas said it was exploiting growth opportunities in automotive markets especially in vehicle breaking and engine management systems
for example us automakers who are already saddled with high stocks produced at an annual rate of 83 mln units in february compared with domestic car sales of 73 mln
homestead hfl begins public share offering
texas eastern tet buys petroleum terminal
total corn commitments for the 1986 87 season total 1015800 tonnes the department said
mees said the soviet firm technoexport which is developing oilfileds for south yemen has substantially increased its initial reserve estimates and recommended a pipeline with an eventual 500000 bpd capacity
s african reserve bank says growth rate on target
although growing 225 pct in the midst of ibms sharply lower 1986 year growth will drop to 15 pct in 1987 and 19 pct in 1988 he said
the close relationship between nakasone and president reagan was an important element of nakasones power base waseda university political science professor mitsuru uchida told 
wilcox and gibbs inc wg sets payout
total m2 and local m2 rose 320 pct and 249 pct respectively from february 1984
the guarantee line for sales of frozen poultry has been increased from 300 mln dlrs to 560 mln dlrs usda said
uk unemployment falls in february
the coupon will be paid 75 pct in australian dlrs with the investor having the option to receive the balance in australian dlrs or marks
ugandas state run coffee marketing board cmb has been suffering a cash crisis for the past two months due to a bottleneck in export shipments and administrative delays in handling payments trade sources said
base lending indicator rates of the other three trading banks range between 210 pct and 215 pct
a facsimile machine sends printed data over telephone lines while a key telephone system is used for switching calls within a business industry sources said
amstutz stressed that a major factor in any decision on soybean program changes will be the budget costs
vw has no comment on seat loss reports
special high grade prime western and continuous galvanizing grade with controlled lead now costs 37 1 2 us cts and 50 canadian cts a pound
usair gets approval to buy 9309394 piedmont shares in tender
the new york stock exchange said loral corp told the exchange its policy is not to comment on unusual market activity in its stock
that would be little changed from the performance expected this year
at the end of 1986 mobil said it also had an existing effective shelf registration with the securities and exchange commmission to permit the sale of 205 mln dlrs of debt
shr primary 58 cts vs 66 cts shr diluted 54 cts vs 66 cts net 101 mln vs 114 mln revs 2662 mln vs 1946 mln avg shrs 174 mln vs 171 mln nine mths shr primary 178 dlrs vs 158 dlrs shr diluted 165 dlrs vs 158 dlrs net 309 mln vs 271 mln revs 8238 mln vs 5110 mln avg shrs 174 mln vs 173 mln note prior qtr and nine mths include 31 mln dlrs or 18 cts per share from gain on partial settlement on an insurance claim
the inflation outlook while broadly satisfactory has worsened in recent months with oecd consumer prices forecast to rise 35 pct this year and 375 pct in 1988 after a 28 pct increase in 1986
netback values for crude oil refined in northern europe rose substantially following strong gains in gasoline prices there
shr profit two cts vs loss two cts net profit 251000 vs loss 222000 note pretax net profit 295000 dlrs vs loss 256000 dlrs
zimbabwe government buys into astra
gulf coast is a subsidiary of the ew scripps co doing business as scripps howard no additional financial details were disclosed
karl vak general director of the zentralsparkasse und kommerzialbank wien called today for a cut of up to half a percentage point in interest rates across the board
anthony cordesman author of a new book on the iran iraq war said the united states apparently chose a limited target to keep alive the possibility that un secretary general javier perez de cuellar might still persuade iran to accept a security council call for a ceasefire
experts said it could take months to refloat the ship and free the 80 bodies estimated to be trapped amid debris
the central bank spokesman said operations over 15 billion pesetas were technically subject to authorisation but would be given clearance if the government failed to act in 15 days
period ending jan
iroquois said that based upon the defenses it will assert it does not believe that any charge against income is required as a result of the claim
gaf gaf debt may be downgraded by s p
wichita also said it made a number of refinancing agreements in connection with the acquisition
but the two sides remained deadlocked
for taiwan yeutter said that with its per capita trade surplus with the us much larger than that of japans and with huge foreign exchange reserves it was difficult to defend the high import tarrifs and other barriers that prevail in that country
the company said completion is expected in the third quarter
health and rehabilitation properties trust said it declared an intitial dividend of 55 cts per share for the period ending march 31 1987 the dividend will be payed may 20 to shareholders of record on april 20 the company said
the draft proposal included three principles a limit to non member cocoa comprising the buffer stock an offer system for buying buffer stock cocoa and price differentials to be paid for various cocoas making up the buffer stock delegates said
the director of the banco do brasils foreign trade department cacex roberto fendt told reporters the upturn in february confirmed a rising trend in exports which totalled 153 billion dlrs against 126 billion in january and after excluding coffee and oil derivitives was only slightly below the same month last year
capital costs to bring the mine into production are estimated at 76 mln dlrs
they noted that the latest plan marked a compromise between the two sides demands but fell short of ongpins assertion that the philippines would insist on a deal better than the 13 16 percentage points offered to mexico last year by its creditor banks
president leon febres cordero said ecuador would honour its debt when it had the capacity to make payments but said foreign banks had calculated oil would have to be 25 dlrs a barrel for ecuador to meet its commitments
colombia opens april may coffee registrations
current oil production is 80 barrels a day it said adding that no gas was produced for sale in 1986
toussie group sells hecks hex shares
medtronic inc said it sees 15 pct growth in sales and earnings for the year ending april 30 1988
trade and industry sources blame uncertainty about the icco for destabilising the market as the recent collapse in coffee prices has made traders acutely aware that commodity pacts can founder
we have seen that the failure of the world trading system has caused great depression and conflict in the past
amoskeag bank shares inc and portsmouth savings bank said they will file motions for a rehearing with the new hampshire supreme court of its march 30 ruling that overturned state regulatory approval of amoskeags acquisition portsmouth
the us is not opposed to short term measures as long as they are directly linked to long term commitments to end major trade distortions samuels said
to this end japan and the us must make medium and long term efforts to alter economic structures which have expanded the trade gap between the two nations
the warrants may be exercised from april 30 1987 to april 30 1990
argentina will tell its creditors it needs an extension of deadlines for payment of capital and interest on its 50 billion dlr foreign debt industry and foreign trade secretary roberto lavagna told reporters
a foreign trader here said china accumulated large stocks in 1982 85 when provincial authorities were allowed to import sugar on their own authority
and we hope to see changes occur in the near future visiting chairman of general motors roger smith said in march
the company recorded net income of 732000 dlrs or 22 cts per share on revenues of 102 mln dlrs
international american whose stock was halted on nasdaq earlier said the purchase price is payable 12 mln dlrs in cash and the balance in its own common shares
shr 411 dlrs vs 351 dlrs net 2091000 vs 1785000 sales 388 mln vs 343 mln year shr 342 dlrs vs 357 dlrs net 1740000 vs 1815000 sales 1130 mln vs 1041 mln qtly div 25 cts vs 25 cts previously pay april 30 record april 15
the interesting thing our figures show is the transition in london from a marketing effort to a trading effort said louis crandall an economist at wrightson who has been collecting the data
reynolds said that winchester introduced in 1971 was a dominant brand in the little cigar market
shr 35 cts vs 40 cts net 9246000 vs 10719000 sales 3679 mln vs 3151 mln nine mths shr 103 dlrs vs 113 dlrs net 27490000 vs 30160000 sales 106 billion vs 9153 mln
gulf applied technologies gats sells units
volcker sees tight policy hurting investment
our customers in this country are living off the tailgates of our trucks he said referring to tightness of supply and strong demand
it said 600000 dlrs of the loan will cover the foreign exchange costs of consultancy services equipment and training abroad for technical and financial personnel
utilities output rose 07 pct in february after a 12 pct rise in january
the bundesbank was not obliged to react immediately whenever such overshooting occurs
more
shr profit 11 cts vs loss 145 dlrs net profit 267000 vs loss 3458000 sales 236 mln vs 230 mln first half shr loss 27 cts vs loss 191 dlrs net loss 633000 vs loss 4548000 sales 462 mln vs 497 mln avg shrs 2382000 vs 2381000 backlog 261 mln vs 360 mln
the bundesbank plays a passive role in setting the calendar without trying to regulate the issues but it needs the registration to gauge the volume of mark bonds going through the euromarket he said
a short time later navy personnel boarded a second iranian oil platform about five miles to the north and destroyed radar and communications equipment before leaving the structure the pentagon said
benequity has 57 mln units outstanding
there is a 7 8 pct selling concesssion and a 1 2 pct combined management and underwriting fee
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
the sources said about 706470 tonnes of french sugar and 79000 tonnes of german sugar had been accepted the remainder being rejected as of too low quality
they said the market for denim is more fragmented than burlington contends and that burlington has the ability to switch between light weight and heavy weight denim production as demand and price dictate
southlife holding co slhc 4th qtr net
the bureau said total trade volume was up 25 pct on the same 1986 period with exports up 181 pct but it gave no other comparative figures
cvgs three aluminum companies also showed substantial gains
continentals 10 year notes were assigned an 11 1 2 pct coupon and priced at par
belgolux trade swings into january deficit
standard and poors corp said it may upgrade wainoco oil corps 25 mln dlrs of c rated subordinated debentures due 1998
swiss banks are holding talks with protestant and roman catholic officials to hear church complaints about lending to south africa the swiss bankers association said
media general inc ups qtly div to 68 cts shr from 64 cts sets stock split
we are very disappointed that pakistan took such action it will certainly hurt kenyas tea industry in the short term as pakistan is kenyas second largest market a source at one broking house told 
california water service co cwtro 3rd qtr
us pharmacologist norman farnsworth has calculated that 25 pct of all us prescriptions owe their active ingredients to higher plants growing in the forests
kenneth thomas senior vice president investments at drexels los angeles office and his father retired university professor ca thomas said they bought the stake for 21 mln dlrs primarily for investment purposes
one trade source said india has targetted countries that depend on an indian domestic market recently opened to foreign imports
dealers said the communique early in the european morning from the g 7 meeting contained no significant new factors and although the dollar dipped it generally resisted further attempts to push it lower through the day
us trade representative clayton yeutter said he was almost sure japan would not retaliate against tariffs president reagan slapped on 300 mln dlrs of japanese electronic goods today
tmoc said today this was not a premium over the share price before the bid and that tmoc had traded at up to 406 dlrs a share in the last two weeks
rainbow has said the merger is soundly based
the us also will oppose all ec efforts to impair us trade via the ec oilseeds regime which supports ec oilseed prices over the current market level and which may be extended to include a hotly disputed oils and fats tax samuels said
traders said the destocking has come about as a result of a so called buyers strike which kept refiners from buying officially priced opec oil in an effort to get the organization to offer discounts to the official price
however the bank said it will maintain the high level of provisioning for loan losses established last year because of many market uncertainties
the amc purchase is larger and riskier than current ratings anticipate but any downgrade would be small and chrysler would remain investment grade s and p said
dow chemical launches 200 mln swiss franc bond
pda engineering said it has temporarily deferred shipmetns of its patran software for ibm computers due to a technical problem with the program
cea investors partnership ii has planned the partnership to be operated by michaels who is chairman and president of communications equity associates inc a media brokerage firm video said
noting fed vice chairman johnsons encouraging remarks on inflation today and recent interest rate cuts overseas some economists suggested this slowing in monetary growth could lend support to calls for further accommodation here
emanuel said ecuador was seeking soft loans from multilateral organisations for reconstruction work
volcker says us trade deficit is major challenge
mangood corp mab year oper loss
the shift has prompted changes in dealing habits
i think one of the things that has to be recognized in that merger is that it appears at least that a good portion of the ownership of american motors which has been in overseas hands will be put back in american hands meese told the subcommittee
usx x uss unit raises prices
the net position of federal states worsened in the first march week cutting public authority net holdings at the bundesbank by 500 mln marks the central bank said
transamerica corp said it expects to realize a gain of about 75 mln dlrs on the previously announced sale of the group life and health operations of its transamerican occidental life insurance co subsidiary to provident life and accident co pacc but it said its transamerica life cos unit plans to change to a more conservative method of amortizing deferred policy acquisition costs resulting in a one time charge that will offset most of the gain from the sale
timely rains will be needed in the next several weeks as winter grains advance through the critical reproductive phase the agency said
1986 net includes 15 mln dlr charge for reduction in carrying value of refinery and related assets
under the zero duty bindings pact us soybeans and products can be exported to the community duty free
sen
a working group which has been meeting since monday will tackle the buffer stock rules issue again at 1600 hrs when icco executive director kobena erbynn presents a fleshed out version of a draft proposal he prepared earlier this week delegates said
american medical international inc ami net
sugar imports subject to the us sugar import quota during the week ended january 9 the initial week of the 1987 sugar quota year totaled 5988 short tons versus 46254 tons the previous week the agriculture department said
marine midland mmb raises prime rate
success may depend on whether japanese parents allow german subsidiaries independence to operate without interference
the trucking subsidiary in western canada is performing well and there are no plans to sell it he said
it said the modernization would involve replacement of the existing bar mill with a high speed quick change continuous mill
net includes pretax loan loss provisions of 1439000 dlrs vs 127000 dlrs in quarter and 1701000 dlrs vs 222000 dlrs in year
chemlawn corp said it has started talks on the possible sale of the company with various parties that it did not identify
correction duesseldorf north rhine westphalia in duesseldorf item north rhine westphalia issues 12 billion mark bond please read in second paragraph payment date is april 7 and the bond matures corrects payment date from april 17
a group led by new york investor mario gabelli told the securities and exchange commission it cut its stake in gencorp inc to 1410184 shares or 63 pct of the total from 1626233 shares or 73 pct
year to date truck production was 395967 down from 410821
the big w discount store division and new south wales supermarkets produced very disappointing results it added
energy prices which fired januarys data with a three pct rise advanced a more moderate 19 pct last month
while lawmakers may object to the usda rule under consideration relating to perishable commodities congress is not likely to reopen debate on the controversial immigration question congressional sources said
independent adviser wardley australia ltd had also concluded the offer was fair and reasonable it added
march illinois ex chicago 132 1 2 pct bid 140 offered up 2 1 2 points
spokesman fitzwater said we dont want a trade war but the imposition of sanctions showed the united states would act when it had evidence that trade pacts were being violated
sunshine mining co ssc 4th qtr loss
plunging tokyo stock prices will prevent the bank of japan from raising its discount rate and could even force it to ease monetary policy if the collapse continues government and private economists said
currency conversions were made at 681 crowns to the dlr
sugar producers here said the volume of sugar authorised for export since the begining of the current campaign had been inadequate and that more should be exported now to compensate
micropro international corp mpro 4th qtr net
the ec commission itself has switched its tactics in recent years substituting general calls for action by japan to open its market with specific demands for moves in key areas
for congress to allow the takeover game to continue unchecked would be economic suicide champion international corp chairman andrew sigler added
the house ways and means trade subcommittee unanimously approved a toned down version of legislation designed to toughen us trade laws and wedge open foreign markets to more us goods
greene produces and sells dental x ray tabs mount products and record systems
golden enterprises inc gldc 3rd qtr feb 28 net
us house passes gulf bill despite opposition
reserves of the donalda number two deposit located 1000 feet below the number one deposit were recalculated at 300000 tons with an average grade of 033 ounces of gold per ton
it also cited a highly leveraged balance sheet and reduced access to capital
the yens movement in the past several weeks is within the range agreed in paris in febraury he said
dauster told reporters on his return from london last week that no decisions would be made on exports before he had held talks with all sectors of the industry
you look at their record over the year and i think theyre poised to be more profitable than they had been in the past gormley said
the jury is still out on whether the fed is tightening policy to defend the dollar said leslie of discount corp
lammers queens commissioner for the province of flevoland will not act as a mediator but will draw up an agenda and procedures for meetings between the employers and unions on a work practice agreement and proposed redundancies
vag kredit bank gmbh the credit bank subsidiary of volkswagen ag vowgf said it was optimistic for 1987 after raising turnover and balance sheet total in 1986
california and louisiana were each up by three and wyoming gained two additional working rigs
whippany paper board co inc merger approved
the greek statement said athens was ready to put the continental shelf issue before international courts
they have to buy the securities in the secondary market bond traders said many corporates rose well above par in the secondary market this year
hernandez said the increase had come from a new accounting system which included the results of pdvsas overseas refining and marketing operations
ubs brought two negotiated deals to the marketplace after that
the third project to improve refinery efficiency reduce energy consumption and increase crude oil processing capacity will be supported by a 21 mln dlr loan
the phillipines is asking the banks to reschedule 36 billion dlrs of debt falling due between 1987 and 1992 and to grant easier terms on 58 billion dlrs of previously restructured debt
shr 58 cts vs 29 cts net 3141000 vs 1440000 sales 247 mln vs 130 mln
in december japan line asked banks to shelve repayment of about 124 billion yen in outstanding loans and about 153 billion in loans to its subsidiaries
the bundesbank credited banks with a gross 152 billion marks but some 85 billion left the system at the same time as an earlier securities repurchase pact matured
now it is much less certain buoyant share prices are supposed to reflect a booming economy
the chamber said that a comparatively buoyant gold price allowed mines to continue the practise of mining lower grade ores which has characterised recent years it said the industry now mines to an average grade of 563 grams per ton compared with 609 grams per ton in 1985
yugoslavia to tender for 100000 tonnes wheat
new world has 30800 shares of the total 44 mln shares
bentsen said he supported an oil import fee but that it would not happen without president reagans support
gdp which fell 02 pct in november was 21 pct above the december 1985 level the federal agency said
shr 13 cts vs 37 cts net 1300000 vs 3700000 sales 189 mln vs 163 mln
oper includes writeoff related to subordinated note exchange of 185000 for current qtr and nine mths
lyng indicated the two countries have been unable to agree on the mix of concessional and commercial aid and that washington would prefer the package include something other than donated food
the estate itself owns 340783 of the 752297 class b shares
weve heard news every now and then of violations but they were not at all verified he said
investment firms up stake in mcgill mftg mgll 
discounts in the october and december contracts take into consideration a six to seven pct increase in march may farrowing intentions which was borne out in the march 1 report fuller said
the department said it is possible that producers could be encouraged to delivery higher quality grain to ccc by adjusting the premiums and discounts
the venezuelan government has been criticised at home for failing to obtain new credits despite its insistence on repaying foreign debt according to the terms of a rescheduling accord reached last february
shr 131 dlrs vs 103 dlrs net 123 mln vs 95 mln revs 831 mln vs 764 mln avg shrs 94 mln vs 91 mln 12 mths shr 438 dlrs vs 368 dlrs net 409 mln vs 331 mln revs 314 billion vs 277 billion avg shrs 93 mln vs 90 mln
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 fsical policy it said
the company said it anticipated fiscal 1987 earnings to be lower due to withdrawal of its share offering computer equipment shipment delays and costs associated with sales staff expansion
the announcement comes in the middle of a dispute between the uk and japan over the entry of cable and wireless plc cawll into the japanese market
federal funds traded at 5 15 16 pct late friday and are expected to open about there today with no fed action seen
conable defended his own reorganization plan for the world bank which he said was aimed at improving efficiency and limiting a growing bureaucracy
last week yields fell to around 550 pct not far from the 1986 low of 535 pct posted in mid april
in the last three years it has bought back about 25 pct of its shares
prices for edible oils appear to have more upside potential reflecting strong world demand and an unprecedented decline in the production of tree oils balletto said
baker bko hughes ht still on s p watch
lord belstead a junior agriculture minister told the house of lords the tax would raise the price of raw materials used in many processed foods by about 100 pct
his amendment called for the government to sell gold coins and gold backed bonds with maturities of 30 to 50 years to investors to reduce the federal debt
they have to realise that the more our economies suffer the less capcity we have to buy their goods and repay the regions 360 billion dollar foreign debt geplaceas latorre said
olivetti spa olivmi unit olivetti peripheral equipment spa
data out today show net borrowings from the fed averaged 393 mln dlrs in the two weeks to wednesday up from 265 mln dlrs in the prior statement period
german bank sees higher gold price for 1987
she forecast 190 dlrs for national bank of canada against 330 dlrs before a two for one stock split
nigeria changes auction rules to defend the naira
feb daily ave unwrought aluminium output 33900 tonnes up 400 tonnes ipai
liberty all star usa sets initial payout
taiwans trade surplus hit a record 1495 billion us dlrs in the first nine months of 1987 compared with 1105 billion a year earlier official figures show
however top ldp executives will work out figures so that abe will be able to offer specifics to us officials
in february 25 pct thought their export books were below normal and 50 pct believed them to be about normal
the prudential bache energy growth fund is a publicly owned limited partnership formed in february 1987
the bank said two loans will support jamaicas structural adjustment program a 40 mln dlr loan for trade and financial sector adjustment and a 20 mln dlr loan for the public enterprise sector
the latter was proposed in a letter this week from cartagena to g 7 leaders who are due to attend a summit in venice this month
dollar straight bonds end lower texaco untraded
in its report on export markets for us grains the department said the sharp fall in world wheat prices has reduced the export sales revenue of the awb to levels insufficient to cover its breakeven export price estimated at around 98 dlrs per tonne
bear stearns and ladenburg thalmann co managed the deal
canada rules us corn injuring canadian farmers upholds duty
first union func files 100 mln dlr notes issue
under those terms each baker common share and hughes common share would be converted into one share and 8 10 of a share respectively of baker hughes inc which would be formed as a new holding company
ccc accepts wheat bid for w africa countries
the shrinking economy has wrought huge changes in the fabric of the kingdoms private sector where poor management had gone unpunished in the easy days of the oil boom
the offers were the result of applications submitted to the ministry of economic affairs for the netherlands sixth offshore licensing round
chinas state owned beijing non ferrous metals industrial corp and wrought copper ltd of chile signed a contract to jointly build a copper tube plant on the outskirts of peking the china daily said
werner chrobok managing partner at bethmann bank said german rates were among the lowest in industrial countries and around historical lows for west germany
the deal awaits approval by the spanish government
also cryssen refining inc 4000 bpd at 1547 dlrs edgington oil co 4000 bpd at 1554 dlrs sound refining inc 3100 bpd at 1551 dlrs atlantic richfield co arc 3000 bpd at 1575 dlrs
blackburn told our advisors told us that a split would give a better share value to investors and that the market would give better multiples for pure refining and marketing and exploration and production plays the two companies are now in the process of organizing themselves to become pure plays the executives said
conagra said it also completed the previously announced acquisition of bristol monarch corp and that trident completed the purchase of the remaining 50 pct stake of san juan seafoods inc
canada prime minister says a major trade deal emerging with us
shr 78 cts vs 61 cts net 4774000 vs 3683000 nine mths shr 214 dlrs vs 177 dlrs net 131 mln vs 107 mln
japan trade ministry asks trade houses exporters to reduce dlr sales sources
the company said the charge will result from a redemption of debt
cambridge sells 100 mln dlrs of debentures
1985 4th qtr and year oper net excludes a gain of 256 mln dlrs or 156 dlr per share and 294 mln dlrs or 179 dlrs per share for settlement of claims and utilization of tax loss carryforward
it said the maize export price currently is depressed and the board is probably confronted with the necessity to maintain or slightly increase the internal price of maize again to offset the ostensible loss which must be faced on exporting surplus amounts
it said this figure was bolstered by profits of firms such as electric power and gas companies which have benefitted from the yens appreciation
until the competitive ability of industry improved the authorities would have little scope for macroeconomic manoeuvre even if the unemployment situation or the need to encourage a pickup in investment could require demand to grow more briskly it added
foote said newmont has informally indicated it would vote in favor of the rio tinto proposal
coal activities resulted in a net profit of 367 mln dlrs against 341 mln while salt raised its contribution to 47 mln from 28 mln
japan buys modest amount of dollars dealers say
the company agreed to sell its interest for 7250000 dlrs subject to downward adjustment for certain title and state requirements
west germany sharply boosts aid to bolivia
merrill had suspended the official nahum vaskevitch yesterday saying at the time it was disappointed and angry if the sec charges are true
as a result underwriters said retail investors would gladly sacrifice some of the yield spread over treasuries if they could buy debt issues at or below par
although a number of gold coins especially the canadian maple have been issued elsewhere in an attempt to take the place of the south african krugerrand the british government still feels that there is a gap in the market for a british one ounce gold coin
the company named goldman sachs and co lazard freres and co and merrill lynch capital markets as managing underwriters of the offering
the harvest this year should be around 30 mln bags he added
the scandinavian airlines system s sas international hotels unit and skanska ab skbsst of sweden are raising a 37 mln us dlr loan for their joint venture hotel in china loan lead manager dnc ltd said
something must give soon
we need time for those actions and the earlier depreciation to work their effects he said
its coming in a lot weaker than i thought the economists were quick to caution that one months data prove nothing especially because money growth previously had been so rapid
he said there is a possibility the company will sell the smelter which currently employs 320 people before its scheduled closing
treasurys baker calls for new brazil plan
bin qasim shanghai 25000 mt pig iron 1500 fhex 1200 shex 1 10 4
andover group a great falls va investment partnership that is seeking control of hbo and co said it raised its stake in the company to 2026000 shares or 87 pct of the total from 1626000 shares or 70 pct
wickes wix completes purchase
the administration opposes any legislation that would tie its hands in votes on the loans
qtrly div 25 cts vs 25 cts pay may 15 record april 15
swiss bank corp said that the facility pays a commitment fee of 10 basis points per annum on undrawn amounts
baker made it clear that he backed the decision by the paris club official creditors to reschedule loans to brazil even though the country later froze its payments to commercial bank creditors
to an extent this has become the minimum acceptable reduction level he explained
gencorp is involved in tire and plasticmaking and aerospace as well as broadcasting
he also said the yens large and rapid rise is depressing the outlook for the japanese economy noting that in addition to hurting exporters it is also damaging domestic market manufacturers through cheap imports
old stone is a rhode island based financial services company with assets of 39 billion dlrs
on our part we are careful to avoid any actions which might add to such volatility
the reports said the proposed bid would be a price above the 35 dlrs per share offered by ef hutton lbo inc the hutton offer expires tomorrow
tokyo optical issues equity warrant eurobond
economists added that the low rate on federal funds indicates the fed is unlikely to add funds agressively through overnight system repurchases unless it feels the need to calm volatile financial markets
qtly div 73 cts vs 73 cts prior pay march 31 record march 16
trading was suspended today in shares of lai sun evergo china entertainment and the groups associate chinese estates ltd chinese estates lost 25 cents to 2015 dlrs yesterday china entertainment five to 860 dlrs and evergo one to 74 cents
shearson lehman upgrades us oil stocks
usda revises 1986 summer potatoes
henderson said our pharmaceutical business gets lost in the way that glaxos glaxo holdings plc does not icis pharmaceutical division is the second largest drug maker behind glaxo in the uk last year us drug sales were about 40 pct of its worldwide drug sales of 15 billion dlrs which in turn brought in 27 pct of its total profits
the june pound which added 63 cents over the past week and a half to reach a new contract high of 15930 to the dollar on monday has spawned a new found speculative boom
pre tax profit 1211 mln stg vs 1093 mln
cominco ltd lowers price of lead metal
but poehl said west germany now faced a difficult dilemma over monetary policy
italy stance on ec oils tax not encouraging asa
electromedics inc elmd year net
the louvre accord has worked very well in terms of stabilizing exchange rates he said in response to a question during an american stock exchange conference here
the agreement to be implemented in two stages in july this year and july 1988 means the minimum aid component in mixed credits will be raised to 35 pct from 25 pct and to 50 pct for credits covering exports to the worlds least developed nations
canada 91 day t bills average 703 pct making bank rate 728 pct
oshmans sporting goods inc oshm 4th qtr net
earlier the bank estimated a surplus of around 250 mln stg in the system today
pre tax profit 1059 mln stg vs 796 mln
but the target can be achieved only with good weather the report said
he said the treasury expected a current account balance of payments deficit in 1987 of 25 billion stg after a 11 billion shortfall in 1986
the banks policy making board of governors meeting here ahead of this weeks iadb annual meetings put off any decisions when it became apparent differences between washington and the latin countries ware too great
the company said that under the definitive agreement qintexs us division will have the right to purchase up to 51 pct of the new company in the open market in private transactions or by tender offer but will not be purchasing warrants to bring its ownership to 51 pct of the new company
the company said it is preparing to ask the nuclear regulatory commission for the go ahead to enter the next series of tests at up to the 75 pct power level
the new york firm will be known as deak international trading ltd the company said
group shr 1186 yen vs 1924 net 3418 billion vs 5944 billion pretax 7802 billion vs 13052 billion operating 5158 billion vs 12150 billion sales 3308 billion vs 3373 billion
azzam said the absence of proper commercial law in some gulf countries and authorities apparent reluctance to adopt financial innovations had also hampered capital markets
the oklahoma weekly usda crop report said cold weather slowed crop development and caused some cattle deaths
the agreement tentatively set in january includes production tooling design and equipment for urban transit buses inventories and trademark identification
information to be released will include the amount of stock allotted in terms of both competitive and non competitive bids and the highest lowest and average price of the successful bids
foreign exchange operations can be in mixed currencies instead of having to borrow and lend in the same currency
still to be divested are the process machinery division with sales of 137 mln dlrs and mathews conveyer co with sales of 83 mln dlrs
ultramar plc umarl said that while its fourth 1986 quarter had improved from the operational point of view several special charges adversely affected results
companys full name is richarson electronics ltd
hanson said that promptly following the filing of the certificate of merger kaiser cement common shares will be delisted from the new york stock exchange
federal reserve weekly report 4 feb 26 one week ended feb 25 daily avgs mlns foreign deposits 219 down 29 gold stock 11059 unch custody holdings 168348 down 366 federal funds rate avg 595 vs 621 factors on wednesday feb 25 bank borrowings 1239 vs 446 including extended credits 92 vs 298 matched sales 8250 vs 2998 including sales w cust 4392 vs 2998 float 935 vs 2125
the world bank is prepared to play a more aggressive role in promoting third world development bank president barber conable said in a magazine interview
making similar statements when the market is high strung and ready to bounce is perhaps a mistake one senior dealer with a us bank said
these premiums for prompt metal have become a semi permanent feature over the last year due to increased business and volatility in traded options and are presently around 50 stg
bull to issue 800 mln francs stock option bonds
air canada courier buy sharply alters industry
speaking to reporters after a shareholders meeting he said eurotunnel would offer a menu of securities designed to overcome investor reluctance
it is essential that wheat moves by the most economic mode to the nearest efficient port irrespective of the state in which the wheat is grown or stored it said
it said acme had 1986 sales of over 50 mln dlrs
the brazilian coffee institute ibc is expected to maintain its previous pricing system when it reopens export registrations probably later this week exporters said
rubber prices particularly crepe fell sharply by about four rupees a kilo between december and march
china postpones plan to scrap parallel currency
the government has fixed the exchange rate at nine kwacha per dollar effectively revaluing the kwacha by 677 pct
saudi riyal deposit rates remain firm
grimes said as far as the distant months are concerned if our first quarter pig crop is up only six pct and under 60 lb inventories actually up only five pct it would take a tremendous discount in price for each percent increase for us to push down to the prices that the current futures show for the july and august period jerry abbenhaus analyst for age clearing noted that distant futures prices are already 15 to 20 dlrs lower than they were last summer
the newspaper said baldrige and weinberger are expected to bring the takeover issue before a top level interagency policymaking group such as treasury secretary james bakers economic policy council or the presidents national security council
proposed offerings recently filed with the sec
the credit facility will also allow the borrower to issue cash advances with maturities of one three or six months through a tender panel which will be comprised of banks committed to the facility
usda again extends farm operating plan deadline
in the latest signup farmers on 101020 farms submitted bids on a total of 11254837 acres
while the new law set a ceiling of 108 billion dlrs for next years federal deficit both the house and senate budget committees have conceded that their budget plans would fall short of the deficit reduction goal by about 25 billion dlrs
space has recently been cleared for them at the cbt by moving its major market index pit into the area once reserved for lightly traded cbt gold and silver futures which now share their trading area
they said the issue is led by union bank of switzerland
trade sources said the actions being weighed by reagan included tariffs on a wide variety of japanese exports which use semiconductors
he suggested that some independents may instead turn to exploration in shallow federal offshore leases
the short term capital account surplus was 87 mln dlrs against 46 mln and 158 mln
mccormick capital mkor 1986 year net
italian 1987 gdp growth forecast at three pct
the ec is worried
prices were lower at this weeks coffee auction for all grades and qualities except better quality ab grades which held steady the coffee board of kenya said
customs figures show china imported 266241 tonnes of aluminium and alloy in 1986 down from 487862 in 1985
feedgrains x cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage feed 1406 1362 1348 1355 other 358 350 350 343 ttl domest 1764 1712 1698 1698 exports 439 408 366 366 total use 2203 2119 2064 2064 end stocks 1591 1675 1264 1264 farmer reser 390 365 166 166 ccc stocks 552 495 204 204 free stocks 648 815 893 893 x includes corn sorghum oats barley
halmi said the funds will be used for the development and production of television programming and for regular company business
montgomery further told the conference dont be an investor in the stock on the basis of any short term recovery in operating or net income in 1987 and 1988 our concentration is on maintaining or increasing market share in our core businesses this year and next regardless of the impact to the bottom line he said
its the worst form of government there is apart from all the others one banker said paraphrasing former british prime minister winston churchills opinion about democracy
the company said on completion of the merger the combined company wopuld be known as power cell inc and be engaged in the development of balzac technology related to its quick charge product for charging auto batteries
roeller who is also management board spokesman of dresdner bank ag said in a radio interview it is unlikely brazils suspension last month of part of its interest payments would lead to a chain reaction in latin america
commerce ministry officials told the import policy covered only commercial imports amounting to 1805 billion dlrs
shr 25 cts vs 36 cts net 14 mln vs 14 mln revs 569 mln vs 351 mln year shr 86 cts vs 75 cts net 47 mln vs 30 mln revs 2014 mln vs 1400 mln note1985 4th qtr includes 99000 loss from carryforward
japan february interim trade surplus jumps
illinois tool works itw sells two divisions
home federal savings bank of georgia hfgao 
strathfield oil and gas ltd year net
under terms of the acquisition sovereign shareholders will receive in a tax free exchange 01365 share of chubb common for each sovereign share held
some dealers said the new 9970 contract may suffer from liquidity problems initially as business may continue to centre on the present good ordinary brand gob contract where there are many holders of large short positions on the lme
ltv corps ltv steel corp said it agreed to resume negotiations with the united steelworkers of america at the local plant levels to discuss those provisions of its proposal that require local implementation
kelley oil and gas partners ltd said it has agreed to purchase all of cf industries incs oil and natural gas properties for about 5500000 dlrs effective july 1
preston corp ptrko 3rd qtr net
gte corp gte 3rd qtr net
haughey said he regarded as almost paramount the maintenance of the punts current position within the european monetary system
energy prices rose 19 pct last month after a 30 pct rise in january accounting for one third of the overall cpi rise
manila banking sources said the situation was serious at nmic set up by dbp and pnb in august 1984 after the two banks foreclosed on the assets of marinduque mining and industrial corp over a 17 billion peso obligation
there was only sporadic activity for spot material which was mainly requirement buying they said adding that pre registered coffees were no longer available
qtly div 19 cts vs 19 cts prior pay march 31 record march 12
hackmann said the stocks report was positive for the long term but we still have a long way to go to bring stocks down to where we could start rebuilding prices frazier also cautioned that the soybean acreage report could prompt farmers to change their plans and plant more soybeans
the bond is available in denominations of 1000 and 10000 dlrs and be listed in luxembourg
auditors of brunswick corp lifted a four year qualification on the companys financial statements vice president finance frederick florjancic told securities analysts here
alltel at debentures yield 890 pct
mobutu accused the imf of strangling his country at an october meeting of the ruling mpr party and said his people could not long endure the hardship caused by austerity
the bill which now goes to the full banking committee includes an amendment opposing us approval of development bank loans for commodities in surplus in the world and which are intended for export
under the debt initiative announced 18 months ago by treasury secretary james baker the united states made the decision that debtor countries should be encourged to grow out of their difficulties rather than rely on austerity measures
norway egypt and the soviet union agreed to help opec by restraining production or exports after he visited them on opecs behalf earlier this year
oper shr 158 dlrs vs 77 cts oper net 1648000 vs 817000 sales 257 mln vs 205 mln note net excludes discontinued operations gain 451000 dlrs vs loss 4310000 dlrs
we have been somewhat disappointed in the results so far but we intend to continue these discussions he said
gold reserves remained stable at 21832 billion francs
in early 1986 gencorp and rko agreed to sell wor tv in secaucus nj to mca inc mca for 387 mln dlrs
azpurua was commenting in a television interview on fridays agreement to lower the interest margin to 7 8 pct over libor from 1 1 8 pct and extend the period to 14 years from 12 1 2
it rose 83 pct last year
dutch current account surplus falls in 1986
pay date is may 18
us home loan banks set 2135 billion dlr offer
austria issues 50 mln australian dlr bond
commercial banks quoted the spot riyal at 37500 04 to the dollar after 37507 09 yesterday
ltv corps ltv missiles and electronics group said it received a 283 mln dlr contract from the us air force for continued design and development of an anti satellite weapon system
harold sells chairman and chief executive of woolworth said in a statement these results are especially gratifying as they are an improvement over last years record earnings sells that it was the fourth successive year earnings in each quarter improved over the corresponding year earlier period
meanwhile discussions on a new work agreement in the ports grain sector due to resume next week are stalemated although agreement could be close in the coal and ore sector the employers spokesman added
he further declined to attribute active trading in wendys stock to a published report which stated wall street professionals believe that wendys was possibly being studied by coca cola co ko with view to a possible acquisition
finance minister dilson funaro said last night the plan would reflect an important battle to protect the countrys development and keep it from recession funaro who helped lead the anti inflation cruzado plan launched in february 1986 has come under increasing attack over the past few days following the resignation of planning minister joao sayad on march 17
the department previously said the index rose 21 pct in december
yesterday spot may sugar closed at 718 cents a pound
a reasonable value for the new zealand dollar would be between 10 and 15 pct less and nearer 15 than 10
pilgrim venture in merger agreement
conference chairman manaspas xuto of thailand has said it was imperative to settle outstanding issues this week so that technical drafting work can be done next week
analysts said the bankruptcy filing effectively froze all texacos obligations while it continued to appeal the merits of the pennzoil lawsuit
the securities were long term high quality bonds mostly rated aa minus or a plus he said
the stock was issued to the bank at 9650 stg pct and will be available for dealings from march 11 with the remainder of the amount payable on may 5
the proposal is also subject to a due diligence review execution of a merger agreement arrangement of financing and receipt of government approvals all of which gabelli and co said could be completed within 60 days
for the year ago first quarter the company reported a profit of 100000 dlrs on 73 mln dlrs
ganilau said in a statement the fiji sugar corp would make a payment of five dlrs per tonne against the final payment for the 1986 crop on the understanding that preparations by growers for commencement of harvesting would be completed at all mills by june 23
expenditure based gdp rose 12 pct in the fourth quarter of 1986 from the third quarter and was up 29 pct from the same 1985 quarter
the outcome of todays european community ec white sugar tender is extremely difficult to predict after last weeks substantial award of 102350 tonnes at the highest ever rebate of 46864 european currency units ecus per 100 kilos traders said
industry analysts also said the estimate of a 35 mln bpd draw in stocks made by shell chairman peter holmes yesterday fed speculation that other major companies were destocking
equicor provides employee group plans to 1500 corporations nationwide
an additional margin of 1000 dlrs will be required on all july 1987 delivery coffee c contracts as of the opening of trade monday march 23 the coffee sugar and cocoa exchange csce said
in other action the company set may eight as the date of its annual shareholders meeting
the fall meant the ec was not as aggressive in these markets where the australian trade was the natural source of supply and australia was now back in frawley said
a disinflationary monetary policy should continue to be the main objective of the fed johnson said
ec sales to brazil total about 225000 tonnes during 1986 87 july june in stark contrast to only 50000 tonnes in the 1985 86 season it said
we consider the interest rate increase that has occurred here and internationally to be a problem and cause for concern poehl told an investment conference
allied will be taking bids for its other divisions
bolivias top union leader joins miners fast
the turkish central bank set a lira dollar rate for march 10 of 77305 77692 to the dollar down from the previous 76960 77345
they are responsible to their shareholders and they have to make their decisions on their own
franklin resources ben says net may double
commenting on the breakdown of the talks dauster said consumer proposals would have implied a reduction of one to two mln bags in brazils export quotas
west german finance minister gerhard stoltenberg said the louvre accord was vital to west germany
saudi british slashed 1985 profit 91 pct to just 91 mln riyals and 1986 accounts due soon are expected to show another low figure
but other banking sources said that regional banks many of which are refusing to continue lending to latin america are dissatisfied with decisions of major banks such as citibank in the refinancing of foreign debts
first federal savings of arkansas fa said it bought back 475 mln dlrs of its 15 3 8 pct subordinated capital notes
chemlawn chem in talks on being acquired
myra falls 1986 production was 44000 ounces of gold 966266 ounces of silver 455 mln lbs of copper 962 mln lbs of zinc and 777000 lbs of lead a company spokesman said
compound feed sales totalled 2601 mln tonnes in 1986 87 against 2540 mln a year ago while end march stocks were 217554 tonnes against 224101
eurofer said in a statement consultants working for it identified scope for closing plants on a voluntary basis to reduce capacity by 1526 mln tonnes a year
as a result banking communities serving entire economies are put at a competitive disadvantage he added
shr 167 cents vs 294 final div nil vs same making nil vs same pre tax profit 2131 mln dlrs vs 2642 mln net 1084 mln vs 1915 mln turnover 1717 mln vs 2594 mln other income 10199 mln vs 12518 mln shrs 6513 mln vs same
if the regulatory commissions approve the companys proposed rate moderation plan and grant the increases provided for in such plan during the initial three year phase in period the company believes it could achieve financial stability gulf states said
takashi ishihara chairman of the japan committee for economic development said the accord will not prevent the yen from rising further
the department said the provision of the farm disaster assistance act will be available to all eligible winter wheat producers producers of other types of wheat who were prevented from planting their 1987 wheat crop because of a 1986 natural disaster and all producers who operate farms with program crop acreage bases subject to flooding on 50 pct of such crops permitted acreage
dealers and brokers are required by us securities law to disclose their mark ups if they are excessive the sec said in a public notice
the san francisco based promotional group said 95 per cent of the exported wine was from california and the top three markets were canada japan and britain
prudential records best results in six years
japans february exports rose to 1674 billion dlrs from 1489 billion in february 1986 and from 1465 billion in january the ministry said
ended jan 31 shr one ct vs 31 cts net 29000 vs 1350000 revs 437 mln vs 324 mln year shr 29 cts vs 62 cts net 1251000 vs 2520000 revs 1299 mln vs 961 mln note full name stuarts department stores inc
national video inc nviso year net
world bank head says brazil moratorium temporary
southmark sm acquires 28 nursing homes
proceeds will be used to repay certain indebtedness and increase working capital as well as for general corporate purposes
australia is risking wheat export sales by not providing enough specific quality grades to meet buyer requirements the australian wheat board awb said
international proteins corp pro year net
exports in 1986 87 season at 700 vs 700 last month
they will be listed on the london stock exchange
adams russell aar to acquire cable systems
the london international financial futures exchange liffe could cut further into the simex contract with a us treasury bond contract that can be offset on the cbot they said
the securities were assigned an 8 7 8 pct coupon and par pricing to yield 131 basis points over treasuries
profits from the chemicals sector rose to 33 mln stg from 11 mln after the rationalisation of the carrington chemical site
the company said its earnings per share for the third quarter on a pre split basis converts to 16 cts from 12 cts post split versus three cts pre split from two cts post split for fiscal 1986s third quarter
canton serves customers in northeastern penn
national city corp 1st qtr shr primary 87 cts vs 83 cts
the publishing company also said it filed a shelf registration with securities and exchange commission covering a total of 500 mln dlrs of debt securities to be offered and sold from time to time
it said gold production will average 41000 ounces per year for the mine life and 99000 ounces of silver per year
itj and international digital communications planning inc idc in which both cable and wireless plc cawll and pacific telesis group pacn own 20 pct stakes are set to merge into a new entity to compete against kokusai denshin denwa co ltd kdd the ministry of posts and telecommunications has urged the two rival firms to merge so kdd would have only a single competitor
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
he was unable to say when the operation might begin
qtly div 68 cts vs 68 cts in prior qtr payable may one record april 14
raybestos with manufacturing facilities in radevormwald west germany produces friction materials for use in clutch and braking applications
the london exchange which keeps in touch through the uk governments information channels to the us securities and exchange commission will await further developments he said
specifically the probe is examining the acquisition and subsequent sale of more than five pct of the stock of certain unspecified companies he said
many awb customers are becoming increasingly quality conscious demanding strict adherence to contractual quality specifications the board said in a submission to the royal commission into grain storage handling and transport
over the next six years the philippines would be paying its creditors 20 billion dlrs while getting only four billion dlrs in new loans
we just want to stick to the agreement which was reached and that was very clear that the new round would be one undertaking
taiwans central bank will issue 12 billion taiwan dlrs worth of savings bonds on april 13 to help curb m 1b money supply which rose by a seasonally adjusted 4822 pct in the year to end february a bank spokesman told 
comincos share of production was 43000 short tons of copper contained in concentrate 1200 short tons of molybdenum in concentrate 340000 ounces of silver and 800 ounces of gold he said
american has 78 mln dlrs of a rated senior debt and 256 mln dlrs of bbb preferred stock as well as a 1 paper
he expressed confidence that the new inra would continue to keep prices stable by selling or buying rubber as prices rose or fell through its buffer stock system
the report said the assessment was based on travel in the two countries from march 30 to april 4
the decision means the sale by us parent companies of eurobonds through netherlands antilles subsidiaries will no longer be free of the 30 pct us withholding tax the spokesman said
but whatever the governments response the central bank will stick to its policy of keeping the guilder firm they say
cotton planting began in california and was expected to proceed rapidly in the week ended march 28 the joint agriculture weather facility of the us agriculture and commerce departments said
taft broadcasting rejects 145 dlr per share buyout offer from theta corp
the duth central bank said it accepted bids totalling 4086 billion guilders at tender for the new twelve day special advances at an unchanged 53 pct
the four institutes said an expansive policy was welcome in view of the slowdown in economic activity
motor wheel corp is raising 100 mln dlrs through an offering of senior subordinated notes due 1997 with an 11 3 8 pct coupon and par pricing said lead manager painewebber inc
simply stabilizing prices at about 18 dlrs per barrel will not materialy slow the drop in us production or the rise in imports chairman fred hartley said in the annual report
at that time directors also indefinately postponed a planned special shareholders vote on a restructuring proposal which would have created a class b common with 10 votes a share and limited transferability
fluor said its applied engineering co unit will construct 28 modular sections and deliver them to ges waterford ny silicone products division plant
the china daily said the first two soviet ships to be repaired in china since 1964 left the ports of dalian and xingang last month
net asset value in 1986 rose 35 pct to 1609 dlrs a share from 1189 a year earlier adjusted for a three for two stock split
china crop weather summary usda noaa
envoy advises nakasone to prepare for us visit
in its first estimate for 1987 it puts ec plantings at 185 mln hectares compared with 189 mln in 1986 while it estimates sowings in western europe including ec at 249 mln hectares compared with 250 mln in 1986
shr loss 251 dlrs vs loss 112 dlrs net loss 1042 mln vs loss 464 mln nine mths shr loss 580 dlrs vs loss 52 cts net loss 2409 mln vs loss 217 mln note 1987 qtr and nine mths includes loss 1236 mln dlrs and 2860 mln dlrs respectively for loan loss allowance provision
last years profits should have been 28 to 29 billion dlrs if not for the huge provisions former hongkong bank chairman michael sandberg said the bank wrote off hundreds of millions of dollars against its shipping exposure in 1985
managers are arab banking corp bank of nova scotia gulf international bank istituto bancario san paolo di torino national bank of kuwait standard chartered asia ltd and sumitomo finance asia ltd
it makes sense that we divide the business session from the trade show sweet said
soybean cake meal in thousand short tons 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 212 212 387 387 production 26558 26203 24951 24951 total 26770 26415 25338 25338 note 1985 86 production estimates based on october year crush of 1060 mln bushels
american network inc anwi dec 31 year net
hanson trust plc hnsnl said its us subsidiary hanson industries inc is to sell pcr inc a speciality chemicals unit for 625 mln dlrs cash to chemical partners inc pcr had sales of 132 mln dlrs in fiscal 1986 and an operating loss of 381000 dlrs
end 1986 net assets totalled 1185 mln dlrs
the official international business newspaper today published chinas demands in a editorial to coincide with the visit of us secretary of state george shultz
unloading of grains and other essential commodities started normally after we called in navy personnel to help a port official told 
the reforms tighten the rules for the use of foreign aid to subsidise export credits in so called mixed credits the oecd said
us exporters report 350000 tonnes corn sold to unknown destinations for 1986 87
in addition it plans to exchange debt for common stock shares s and p said
sec officials said the length of the extension in such cases would depend on the facts and circumstances surrounding each case but would generally be between five and 10 days
terms were not disclosed
mthly div 15 cts vs 15 cts pay april 15 record april 1
guardian trustco inc 4th qtr net
the 1986 summer grain harvest was a record 93 mln tonnes up from 92 mln in 1985 out of a total 1986 grain harvest of 391 mln
peoples heritage phbk to make acquisition
the feds failure to add reserves in the market on tuesday and wednesday surprised some but economists said the data released today suggest it had no real need to add reserves
the budget gave civil servants a 20 pct pay rise with effect from july 1 to compensate for inflation of more than 30 pct
finance and economy ministers of the gulf cooperation council gcc opened a two day meeting to discuss further economic integration officials said
consolidated bathurst inc said it expects improvement in the pulp and paper sector shown in the second half of 1986 to continue this year
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
hepworth sells us unit to globe machine
american can issuing 150 mln dlr convertible bond
french cge unit takes 34 pct stake in esca corp
management offered 3850 dlrs in cash exchangeable preferred stock worth 850 dlrs and a fractional share of convertible preferred
mulford criticized what he called large scale solutions to the debt problems effecting many developing countries ranging from debt forgiveness to creating new multilateral institutions for lending
newmont mining corp said it completed the previously announced reduction of its share in peabody holding co inc to 4997 pct from 6147 pct
addressing analysts tsai said first quarter results have been extremely encouraging and results for all of 1987 will show significant improvement over 1986 american can earned 1963 mln dlrs or 321 dlrs per share adjusted for a two for one stock split in 1986
that is about 117 pct of the outstanding stock on a fully diluted basis the proxy said
he said tanker requirements decreased in september 1986 as opec production quotas dropped and levels of oil stocks rose
the department said the change from february included a decrease of 2581 mln dlrs from the repayment at maturity of a 1982 swiss franc 400 mln issue
senate finance committee chairman lloyd bentsen told the senate the measure was not aimed at retaliation but at correcting japans unfair trade practices
thesing gmbh und co kommanditgesellschaft martin thesing handelsgesellschaft
the suspension of ecuadors crude oil shipments after an earthquake cut an oil pipeline will last at least four months a senior energy ministry official said
petrobras cancels oil purchase from saudi arabia
it said in the official bulletin it would seek permission to increase capital currently 233 billion francs by up to two billion francs worth of new ordinary shares
asked if the committee did not need to meet soon to narrow the gaps in the prices of the various opec crudes fixed in relation to the 18 dlr benchmark lukman replied we consider the defence of our prices much more crucial than differentials lukman said opec was aware that consumers had heavily drawn on stocks of both crude oil and refined products to levels well below this time last year and soon they would return to the market in search of crude
these numbers and other things suggest the fomc will not change policy said robert brusca of nikko securities co
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
international hrs industries inc said it would reduce its stake in hal roach studios inc to 22 pct from 52 pct in return for 63 mln us dlrs from qintex incs qintex america media ltd unit
it said it used about 20 mln dlrs of the proceeds to prepay principal on its senior secured notes
in explaining the pricing a salomon official noted that there has been very heavy demand for high coupon usagency mortgage issues such as fannie maes and that the rising price of the collateral must be passed along to investors
the sources did not give an estimate for exports in 1987 but they noted that shipments declined to 37200 tonnes last year from 41662 in 1985
the new facility replaces old five day advances worth 80 billion guilders at the same rate
thailand has an ec quota of an average 525 mln tonnes a year until 1990
organized labor has pressed lawmakers for more relief from imports where jobs have been lost to foreign competition
they said the cost to the economy had been too great
the company said it would report full year 1986 net income of 200 dlrs per share compared to 232 dlrs per share in 1985
one hundred members of britains ruling conservative party have signed a motion calling for trade sanctions against japan to force tokyo to open its domestic market to british goods
the japan overseas economic co operation fund is to provide 260 mln dlrs towards chinas plans to improve its road network the official new china news agency reported
analysts did not forsee a major impact from algerian imports on us prices which are currently soft but expected to trend higher by the end of 1987
a chemical plant in the south china province of guangdong will raise 30 mln yuan by a domestic bond issue the china news service monitored here said
the first major rescheduling was not sealed until mid february this year when arabian auto agency known as aaa reached agreement to stretch out repayments of 700 mln riyals of debt to some 50 saudi and international banks
marcade group mar plans acquisition
micropolis mlis to offer convertible debt
the products are used in the chemical aluminum iron rubber and semiconductor industries
ec industry output growth slows in 1986
allegheny international inc said it has entered into an agreement to merge with an affiliate of first boston incs fpc first boston corp in a transaction valued at about 500 mln dlrs
stoltenberg said there is greater agreement now among major countries than six months ago at the time of the annual meeting of the international monetary fund and world bank marked by sharp discord between the united states and its major trading partners
papandreou expressed qualified optimism after briefing opposition leaders on aegean developments early yesterday
medium short grain rice in mln cwts 100 lbs 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 harvested acres mln 055 055 055 055 yield lbs 6651 6651 6258 6258 start stks 267 267 257 257 production 366 366 345 345 ttl supply 653 653 617 617 note starting stocks does not include broken kernels supply minus use does not equal ending stocks in breakdowns
the development bank of singapore ltd dbs said malaysias real gross domestic product growth gdp in 1987 could be 15 to two pct above a budget target of one pct
this spring norways state owned oil company statoil exercised an option in the heidrun field exploration license that if approved by the government would allow it to relieve conoco as heidrun operator a move sharply criticised by conoco
bank of england signals half point cut in short term rates dealers
hoechst ag 1986 world group pretax profit 321 billion marks vs 316 billion
the issue has been the subject of administration debate
the improvement was the first increase this year in the weekly rig count which had dropped steadily since early january when a total of 962 rotary rigs were working
perini investment properties pnv raises payout
african states agree to regional tariff cuts
speculative demand which influences the gold price on futures markets has also risen
chelsea chd sees lower 2nd qtr net
csr ltd csras has made a bold move in selling its oil and gas interests for almost a billion dlrs and ploughing 150 mln into its traditional sugar business share analysts said
he gave no figure for 1986 profit
diesel grades are up two cts caltex said bringing both diesel gas oil one pct sulfur and 52 57 di 55 cetane to 52 cts a gallon and diesel gas oil 05 pct to 52 cts
it merely reflects the realistic carrying value of the companys assets in todays economic environment and the absolute need for reaching a timely agreement with our lenders on a debt restructuring plan to assure the companys continued existence he added
but robert giordano chief economist at goldman sachs and co scoffed at the notion
us exporters report 143000 tonnes corn sold to taiwan for 1986 87 1987 88
they also shouted their support for a demand that jailed black nationalist leader nelson mandela be released
it holds 199 pct of borg warners stock
garcia said the other gold bearing deposits are located at tamborapa pachapidiana and a zone between the cenepa and santiago rivers
dome petroleum reaffirms dome mines stake for sale at right price spokesman says
proceeds will be used for general purposes which may include possible acquisitions refunding outstanding securities and repaying short term debt the bank holding company said
month on month m1 b fell 519 pct from january
1986 4th qtr and year oper net excludes a gain of 905 mln dlrs or 191 dlr per share and 1148 mln dlrs or 242 dlrs per share respectively mainly for settlement of dioxin related claims in reorganization proceedings
alcoa officials acknowledged the possibility that they may have a position in the off exchange aluminum options market but declined specific comment on trade speculation that the company is holding a large outstanding position
several bills which would establish a farm secondary market have been introduced in both the house and senate
dow chemical co said it will issue 200 mln swiss franc denominated bonds worth about 130 mln dlrs us at current exchange rates
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 bank cut the rate to 25 pct from three and began actively injecting funds into the money market to offset rate rises resulting from the end of fiscal year surge in demand for funds from financial institutions
the issue has already been placed privately on an international basis and will not be listed
first interstate of iowa inc fiiao 1st qtr
baker said divestitures under the consent decree would reduce revenues for the combined company by about 65 mln dlrs or three pct
he also reiterated that there was no need for an emergency opec meeting
cd bramall plc said in a statement accompanying its annual results that it proposed to acquire gelco uk for some 263 mln dlrs
the number out of work fell to 28439 down 1142 compared with the previous month
shr profit seven cts vs profit 32 cts net profit 154398 vs profit 694521 revs 177 mln vs 195 mln year shr profit 86 cts vs loss 50 cts net profit 1862986 vs loss 1078535 revs 782 mln vs 814 mln note 1987 year results include extraordinary credit of 459000 dlrs or 21 cts per shr due to utilization of tax loss carryforward
trade sources have put the crop at over 26 mln bags compared with a previous crop of 112 mln
dynamics corp of america said it has reached an agreement with cts corp resolving all differences between the two companies
venezuela ecuador oil loan under discussion
the two new container cranes join one danish container crane already installed in the port which is an important trade outlet for tanzania zambia malawi and eastern zaire
in addition pegasus said it began mining and processing operations at its zortman landusky mine one month ahead of schedule
the ec has threatened to put the sugar back on the internal market if the producers refuse to withdraw their offers
wendys international inc declined to comment on vague rumors by traders that it might be a takeover target
it had operating profits of about 33 mln dlrs in 1986
nikko said it was still completing the syndicate
market sources have said that although trump attracted attention to the stock the pilots proposal acted as a catalyst kicking off a new round of speculation and perhaps throwing the company into the hands of another buyer
in any case us officials say president reagan remains firmly opposed to an import fee and a gasoline tax
they said creditors are not ready to discuss debt forgiveness and prefer to look at schemes such as debt equity swaps in combination with a continuing emphasis on economic reforms
in this context he welcomed a decision by the government to increase the scope of tax cuts due in 1988
were optimistic that they will be concluded shortly he added
a unit of banca nazionale del lavoro is issuing a 15 billion yen eurobond due may 12 1992 paying 4 1 2 pct and priced at 101 1 2 pct market sources said
toyota motors signs purchase agreement with pnb
acceleration said it plans to include gains from the stock sales in its results for the first and second quarters of 1987
loh told in an interview that singapore banks see limited growth in credit risk
lallier did not say how much would be offered although he has noted that edf would be cautious because it believes the market is still in its infancy
the legislation faces another hurdle in the full ways and means committee next week before the full house votes on it
pre tax profit 506 mln stg vs 452 mln making 151 billion stg vs 135 billion
shr 12 cts vs 10 cts net 189578 vs 100254 sales 3403914 vs 3122983 avg shrs 1617600 vs 954400
yeutter said the proposed vegetable oils tax would violate ec obligations under the gatt
oakleaf had 1986 sales of about 26 mln dlrs
he said one potential channel for renewed inflationary pressures would be an excessive fall of the dollar in the exchange markets which would push import prices up sharply
shr loss two cts vs loss 41 cts net profit 4134000 vs loss 3682000 revs 228 mln vs 235 mln nine mths shr profit 44 cts vs loss 199 dlrs net profit 256 mln vs loss 268 mln revs 734 mln vs 867 mln note 1987 qtr and nine mths includes gain 1374000 dlrs or five cts per share and 102 mln dlrs or 41 cts per share respectively from net operating loss carryforward
revenues exclude those for us sprint a joint venture with gte corp gte
rainfall totalled between 20 and 290 mm in buenos aires heaviest in western sectors of the province 20 to 145 mm in la pampa 25 to 120 mm in cordoba and 10 to 75 mm in santa fe
the imi statement which referred to recent press reports that such an issue was imminent or possible said imi was still examining the problems involved but gave no further details
during the final days of january pressure on the dollar subsided
however it said it will conduct open market operations during the week
koch said the assessment of the dollars direction was based on a global view with operators paying most attention to comments by finance officials to see how closely they stated adherence to international agreements such as those set at the plaza hotel in 1985 and in paris on february 22
funaro told reporters his trip which has already taken him to london paris and bonn was aimed at explaining his countrys stance to governments
the board also said it will ask representatives of the committee to restore shareholder value to begin acquainting themselves with the business and affairs of the company as promptly as possible
dutch official warns of more trade conflicts
moodys said that while merrills absolute earnings would continue to increase the houses profitability will lag that of its peers
qatar has chartered floating storage for its crude oil after finding no buyers at official prices in march
a drought that began seven weeks ago is hurting orchards and rubber plantations in thailand and officials said it could last until may
officials at salomon first boston and merrill lynch were unavailable for immediate comment
the amount of cash per share has not yet been determined it added
brazil not selling to cocoa buffer stock trade
gold reserves were 1657 mln dlrs at the end of may compared with 1243 mln at the end of april
the us securities and exchange commission said it charged a managing director of merrill lynch pierce fenner and smith ltd in london with masterminding a massive insider trading scheme nahum vaskevitch managing director of the mergers and acquisitions department of the brokers london office was charged in a civil complaint by the sec filed in manhattan federal court
us cargo preference squabble continues
honeywell reported 1987 first quarter operating earnings rose to 437 mln dlrs or 96 cts a share from 364 mln dlrs or 79 cts in the same period a year ago
pansophic systems inc pns 3rd qtr jan 31 net
fees comprise 3 4 pct selling concession and 1 2 pct for management and underwriting
bouey said the bank was able to reduce the number of new bond issues with maturities of 10 years of more lessen the reliance on canada savings bonds while raising substantailly more through short term treasury bill financings
ps group psg usair u move up deadline
the report was presented at a two day investment conference organised by the dbs one of singapores four major banks
the bureau channels funds to government financial institutions for public works and other official uses they said
bonus issue one for four vs nil
but i am sceptical that the bank will be able to hold up rates for long simmonds said he saw sterling rising another two us cents this week from around 160 dlrs forcing a rate cut by friday
the company last changed its crude oil postings on september 28
it made the request by telephone
most traders expected follow through profit taking from yesterday but the market found suport from bullish reports that opec is producing within its quota said simon greenshields a vice president with morgan stanley and co inc
a leading spanish broker said the central bank was applying a more restrictive policy to keep the lid on inflation
at the moment the rates for three month euromark deposits trade around 40 pct while the same deposits in guilders have a rate of around 5 7 16 pct
far west financial fwfp to buy progressive
as previously reported charter settled dioxin related claims for about 1200 individuals and the state of missouri resolving claims against it and all subsidiaries except independent petrochemical
westpacs chief economist bob graham said the consistent upward trend in the leading index emphasised the need for a tough mini budget in may
chinas citic buys hk hotel from cheung kong
in a filing with the securities and exchange commission conrac said its board of directors authorized its financial and legal advisors to explore a several alternatives to the mark iv offer which it said it considers inadequate
he said it would be a policy which shows brazil has coffee to sell and that it could do so without an ico agreement
scholls sale
it also said it has delayed its annual meeting until may due to the restatement of annual earnings
bangemann also spoke out against protectionism and called for more competition citing as an example the federal post office
figures released this week show foreigners purchased a record 231 billion dlrs of canadian bonds in 1986 more than double the previous year with japan investing a record 95 billion dlrs in the market
this is based on a price of 892p the bass share quotation at 1630 gmt on april 2
the sources said the ec which currently provides subsidies of around 16 cents a pound offered a compromise in last weeks talks in brussels but that this was rejected by the us us assistant special trade representative jim murphy has returned to washington ahead of a theoretical july 1 deadline for agreement set last august when the two sides resolved a related dispute over ec restrictions on us citrus imports
grain ships loading at portland
what happened is that the storm hit lubbock airport and when that happens everybody sees it said dale mohler a senior meteorologist with accu weather inc
us commerce dept opposes foreign takeover ban
schlesinger said the problem of rapid money supply growth was longer term in that the economy was building up the potential for a possible eventual resurgence of inflation
aluminium scrap recovery and usage to rise
during the option period it said it will manage american la s operations
mathematical applications said the business working capital is estimated to be about 600000 dlrs
he said he shared some of the us concern about japans trade surpluses which affected european countries as well as the united states
within manufacturing strong gains were posted in the wood machinery non metallic mineral and food product groups
central capital corp said it planned a three for two split of its common and class a subordinate voting shares subject to shareholder approval at the april 23 annual meeting
a treasury official said there are no plans to try to reduce the us budget deficit by issuing yen denominated bonds that would become known as reagan bonds it simply isnt something that we are planning to do the official said
imperial continental gas association icgsl ic gas said its board is not making a recommendation on the partial tender offfer at 710p per share announced by tractebel sa and groupe bruxelles lambert sa at the same time however the board would not recommend a general offer for all the shares at a price of 710p the statement added
hall and co inc fbh 4th qtr loss
the department said the decline in the underlying rate of rise in earnings reflected the reduced significance of bonus payments in january compared with december
ryan mcfarland is located in rolling hills estates calif
but the jacksons spokesman noted that the more valuable a stock would only be sold to filipinos or companies registered in the philippines
however a spokesman for the commission confirmed the offers had been made to intervention agencies in various member states and said it would now take up to three weeks for the agencies concerned to complete all necessary documentation
for michel develle director of economic studies at newly privatised banque paribas the governments outstanding achievement has been to launch a veritable intellectual revolution breaking the staid habits formed by centuries of state control
but many economists say the system which holds eight european community currencies within narrow fluctuation bands remains in its infancy
this could extend the length of time in which the bundesbank would keep its activity low key economists said
call money fell to 360 70 pct ahead of the allocation from 375 85 pct yesterday dealers said
coffee export quotas used to regulate coffee prices under an international coffee agreement were suspended a year ago when prices soared in response to a drought in brazil
us military forces in the mideast gulf are under orders to protect only american flag vessels and occasional us arms deliveries on other ships to non belligerent states in the area the pentagon said today
sama reduced the offer price on the 500 mln riyal issue to 9678906 from 9682031 last week
japan seeks to strengthen paris currency accord
the study has not been officially released due to objections from some countries
i think it is highly unlikely that american express is going to sell shearson said perrin long of lipper analytical
moodys investors service inc rates the debentures b 2
the south china province of guangdong is importing millions of tonnes of grain a year from overseas and other parts of china because farmers have switched from grain to more profitable crops the peking review magazine said
the accord came after months of transatlantic argument with tokyo and bonn claiming washingtons policy of talking the dollar lower had made life impossible for west german and japanese exporters
pta sources said the agreement averted a split between members wanting more progress towards free trade and weaker states concerned about the effects on customs revenue
federal funds which averaged 605 pct yesterday opened at 5 15 16 pct and remained there in early trading
but an enafer official reached by telephone in the central andean city of huancayo near chacapalca said traffic could be restored by saturday
however icy conditions in the southern baltic at the soviet oil ports of ventspils and klaipeda had eased they said
trade figures show that the new currency alignments are already changing the japan us trade axis into a japan european community ec axis to the discomfort of europe
a solution to brazils debt problems is unthinkable without the involvement of the international monetary fund juergen sarrazin management board member of dresdner bank ag responsible for latin america said
the company also announced final dividends of 44 cents per a share and 88 cents per b share against 323 and 65 cents a year ago
the agency predicted industrial production will grow 25 pct in the current january march quarter after falling 07 pct in the previous quarter
listing is in luxembourg
prior year earnings restated to reflect recapitalization plan
additionally dixon groups rights to buy cyclops common and its rights to fees or expenses if the dixon cyclop merger agreement is broken must be rescinded cyacq said
cml group inc cmlio 3rd qtr net
petrobras said it had requested their withdrawal because the refineries were calm and oil workers had indicated their willingess to negotiate next wednesday
feldstein said the task force which also included koei narusawa economic adviser to the president of the bank of toyko and paul krugman professor of economics at the massachusetts institute of technology did not agree on how much credit would be needed
the hunt group which also includes securities texas firms cypress partners lp and driftwood ltd said it spent 152 mln dlrs on its 1197700 comdata common shares
i believe that the prospect of debt relief would undermine the difficult internal efforts of the borrowing countries to achieve the structural reform that is needed regardless of the policies that are followed on servicing external debt volcker said
in a budget portrayed by bankers as mildly contractionary revenues for 1986 87 were cut 386 pct and spending 11 pct doubling the nominal deficit to 133 billion dinars
wainoco said its pool of future canadian tax deductions has been increased by an amount which should generate savings that will exceed existing deferred income tax liability
washington signed a three year accord with taipei last year limiting textile export growth to 05 pct a year
they were willing to absorb foreign currency risk until mid 1986 when sharp slides posted by the australian and new zealand dollars brought such issuance to a quick halt
the officials told that if the sale went through it could leave the us military overly dependent on a foreign ompany for vital high technology equipment used in its advanced missiles aircraft electronics and intelligence gathering
raising the forecast for the current account deficit from 15 to 25 billion stg for 1987 would not unsettle the markets which are already discounting that amount jeffrey said
levon resources said the revised zone two assays compared to previously reported averages of 0545 ounces of gold a ton
hutton said the offer which had been conditioned upon the tender of at least 5116892 purolator shares or about two thirds of the outstanding shares was terminated because the minimum number of shares was not tendered
total gold and foreign assets rose to 630 billion rand from 622 billion of which the gold content increased to 6622 pct from 643 pct
the renminbi has matched the us dollar fall he said
german feb current account surplus 66 billion marks jan surplus 48 billion official
increasing reliance on the middle east will also boost the incentive to use natural gas and synthetic sources of petroleum he added
s and p expects fundamentals to remain strong for electric utility and natural gas pipeline and distribution units
john labatt to issue 125 mln dlrs of debentures
venezuela concerned about the effect such a tax would have on its exports undertook a diplomatic push to coordinate strategy against such measures
us cold storage stocks march 1 frozen pork bellies lbs 34471000 vs a revised 34900000 on feb 1 and 51218000 a year ago
the agreement to cooperate in stabilising currencies was reached in paris in february this year
the alcoa of australia ltd is planning a 100 mln australian dlr note issuance facility lead manager westpac finance asia ltd said
baird in turn agreed not to take any defensive measures without giving mark iv at least 24 hours notice it said
avnet inc said it filed with the securities and exchange commission a registration statement covering a 150 mln dlr issue of convertible subordinated debentures due 2012
with 285 of the 4000 strong workforce on strike the union will tell the committee the government has a duty to help solve the dispute that has been disrupting the general cargo sector for more than seven weeks the spokesman added
gaf corp is studying an agreement under which merrill lynch capital partners will take borg warner corp private in a 423 billion dlr transaction a gaf spokesman said
stoltenberg says he assumes monetary cooperation will continue
net includes equity in earnings of du pont co dd of 1691 mln dlrs vs 757 mln dlrs and dividend income from du pont shares of 1541 mln dlrs vs 1508 mln dlrs
new shares from the stock split will be distributed may 11 it said
moisture for early rice planting is adequate to abundant in most areas and inundative rain in guangdong and southern jiangxi may have washed out some rice fields requiring replanting
non opec production may still go up competing with opec for the expected additional increase in world demand subroto a member of opecs three man quota committee which has been touring cartel members said speculation may play havoc with spot prices but opec was trying to stabilize the situation by urging cooperation by non opec producers
piw said sales from libya algeria and elsewhere are expected to reclaim markets lost to italian and other european refiners as a result of the abundance of cheap netback oil last year
the prices the state pays to farmers for grain are too low making it more profitable for them to grow other crops
lasmo will control 70 pct of the equity worth some 76 mln canadian dlrs based on the current onyx share price
the remainder will be applied toward reducing any outstanding borrowings under the companys revolving credit loan agreement and for working capital holiday rambler said
sheikh ali al khalifa al sabah was quoted by the local daily al qabas as saying none of the opec members has asked for such a meeting he denied kuwait was pumping above its quota of 948000 barrels of crude daily bpd set under self imposed production limits of the 13 nation organisation
morgan stanleys david hill said he just assumed coverage of philip morris and placed it on his recommended list becasue of its attractive earnings growth and because the stock is selling at a discount to the market based on morgans figures
belcher to raise heavy fuels prices
north hills nohl gets construction funding
due to the provision it said its revised 1986 net income was 3167 mln dlrs or 213 dlrs per share after deducting for preferred stock dividend requirements which were not paid in either 1986 or 1985
transcanada chief financial officer h
it had been 380 90 on friday
twa in legal stipulation not to pursue the acquisition of usair
they can be sold freely on the stock market by simple endorsement while debentures can only be sold to the company after one year brokers said
some consumers would rather the buffer stock manager be able to buy non member cocoa also and pay a single price for the buffer stock cocoa without respect to origin
monfort mnft soars on acquisition agreement
1985 shr and net exclude extraordinary gain of 183000 dlrs or two cts share
ctc dealer extends bid for canadian tire
time tl sees dilution from scott foresman
more than 16000 engineering workers at 45 firms mainly in south germany held warning strikes lasting up to two hours yesterday
it also said michael gruenberg resigned from the companys board of directors
afterwards it may recommend that management make changes in its operations
fundamentally the market situation is bullish and the official price will be 20 dlrs in january a japanese refiner said
the trend is clearly lower he said
the analysts cited royal dutch shell groups rd sc bid for shell oil co which was sweetened before its successful conclusion
in april producer prices fell 03 pct from march and dropped 36 pct from their levels a year earlier
niagara said it is concerned about the continued lowering of authorized return and has reinforced petitions to grant a fair return on equity
corrected miami brazil bank committee will transmit request for 60 day credit extension
dreyers grand previously reported 1986 earnings of 6614000 dlrs or 90 cts per share down from 7960000 dlrs or 108 dlrs a share
deutsche bank ag dbkgf has agreed to take over the outstanding 25 pct in deutsche bank asia ag the former european asian bank ag from creditanstalt bankverein cabvvi deutsche management board joint spokesman alfred herrhausen told a news conference
baker denies dollar target exists
a company spokesman said the company will take some writeoff in connection with the action in the first quarter and there will probably be a further carryover writeoff in the second quarter
mcdermott international inc said asea babcock pfbc received a 48 mln dlrs contract to supply a combustion system for tidd power plant in brilliant ohio
asked if the resolution was designed to give moore protection from a possible hostile takeover sinclair said only i know of no threat to the corporation at this time
new zealands consumer price index cpi which measures the rate of inflation rose 23 pct in the quarter ended march 31 against an 89 pct rise in the december 1986 quarter and a 23 pct rise in the march 1986 quarter the statistics department said
bulletin says tin price may rise to 20 ringgit
gillette has given an undertaking to intervene on the bourse until april 7 to prevent waterman shares from falling below 650 francs it added
the finance ministry commissioned banks and securities houses agreed in january to lower the eligibility ceiling for companies wanting to issue non collateral straight and convertible bonds from march 1 securities managers said
year ago excludes losses of 75809 dlrs or four cts in qtr and 146061 dlrs or eight cts in year from discontinued operations
french operators have requested licences to export 40000 tonnes of free market feed wheat 32500 tonnes of soft bread wheat 375000 tonnes of barley and 465000 tonnes of maize at todays european community tender trade sources here said
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
auditors give first city fbt qualified opinion
he said pre tax earnings per share for 1985 86 according to the dvfa method were 2695 marks from 2140 marks and earnings after tax rose to 10 marks from 810
british printing said it filed the suit after consultation with its advisers
this tax season rates will be up about three or four pct in line with the inflation rate he said
congressional democrats have pledged to enact aggressive trade laws to counter what they contend has been reagans inaction to redress the growing us trade deficit which last year reached 1698 billion dlrs
the market has perhaps exaggerated the dollars effect on fed policy said first chicagos johnson
we have seen some strengthening of those currencies but not as much as we would like he said
shr 27 cts vs not given net 617000 vs 550000 loans 928 mln vs 847 mln deposits 1219 mln vs 1194 mln assets 1554 mln vs 1524 mln note prior share not given due to june 18 1986 conversion to stock ownserhip
it has begun to level off but we dont see it beginning to go down yet he told the panel
speaking by telephone from sao paulo peres said with its decision the us government recognised the honesty of brazilian exporters who never have the intention of practising dumping in a final ruling yesterday the us government eliminated the duties shipped by sucocitrico cutrale and cut to 196 pct the duty on citrosuco
sole manager kidder peabody said the first floating rate class has an initial rate of 6755 pct that will be reset quarterly at 40 basis points over three month libor with an 11 pct cap
belgian finance minister mark eyskens who will host the informal talks told the ministers and central bank chiefs would discuss the situation on currency markets in the light of the february agreement among leading industrialised countries to stabilise exchange rates around present levels
weather closes alexandria port sumed oil terminal
barclays bank said it cutting base lending rate to 105 pct from 11 pct
the debentures are redeemable at any time but non refundable before march 1 1997
both are avialable on eight inch and 5 1 4 inch diskettes wang said
telex corp said its board adopted a shareholder rights plan which will allow shareholders to purchase one common share for two dlrs if a hostile group acquires 15 pct or more of the company
the bank of england said it had bought bills worth 1059 billion stg from the market for resale on march 31 at rates of interest between 10 7 16 pct and 10 17 32 pct
while we expect to receive 183 billion kenyan shillings in the form of external loans for our development programs in the next four years we will be repaying more than 135 billion by way of external debt servicing moi told a conference of american businessmen in nairobi
hayes albion hay completes going private deal
galveston said it will earn up to a 50 pct interest by spending a minimum of one mln dlrs in exploration and development work by december 31 1989
the group which includes ingemar rydin industritillbehor ab a swedish firm vbi corp a british west indies investment firm and norwegian investor erik vik said it bought 211300 scandinavia common shares since april 30 at prices ranging from 10000 to 10625 dlrs a share
amoskeag bank shares inc said the new hampshire supreme court overturned its proposed acquisition of portsmouth savings bank in a three two vote
unr industries inc unriq 4th qtr net
i was very reassured by the determination of mr
this weeks ontario government auction of 50 mln dlrs worth of 91 day treasury bills yielded an average of 728 pct up slightly from 726 pct last week a treasury department spokesman said
traders will initially interpret this measure as announcing heavy sales
a reduction to 70 pct from 80 pct would enable bass strait output to be maintained at the current rate of 420000 barrels per day bpd for the next year rather than falling to 380000 bpd in 1987 88 he told the australian petroleum exploration association annual conference
losses for volkswagen ag vowgf vw linked to an alleged foreign currency fraud will not exceed the 480 mln marks provision already made a vw spokesman said
utilicorp said the board of directors will vote on the split at its next regularly scheduled board meeting on may 6
thomas said the february figures seemed to indicate the improvement in sterling m3 growth witnessed over the past few months had been reversed but firm conclusions could only be drawn after revised data are released on march 31
data voice is a three year old designer and manufacturer of a multiprocessor multiuser ms dos computing system that gandalf plans to integrate with its private automatic computer exchange information system gandalf said
winter grains remained dormant over the region but warm weather promoted greening in crop areas adjacent to the black sea coast it said
discount window borrowings in the week to wednesday were 935 mln dlrs a day producing a daily average for the two week statement period of 689 mln dlrs the highest since the week of december 31 1986 and up from 393 mln dlrs previously
comdata cdn gets merger financing
it said certificates will be distributed about two weeks after the record date
we think we are beginning to see changes he told the house appropriations committee
waste management also said it amended its offer to provide that the tender offer price will not be reduced by chemlawns 10 cts a share dividend payable to holders of record april 1 1987
intrepid museum continues reorganization talks
the bank of japan bought a small amount of dollars at around 14595 yen shortly after the tokyo market opened dealers said
american can ac files for debt offering
scan graphics captive venture capital merge
nz december quarter retail sales fall 132 pct
welbilt welb completes acquisitions
main destinations for refrigerated beef bone in equivalent were as follows in tonnes with comparative figures for 1986 in brackets ec 5500 7900 brazil 5200 unavailable israel 3700 3000 peru 2500 800 singapore 500 300 switzerland 500 400 canary islands 500 300 malta 500 700 aruba curazao 200 300 chile 100 600 main destinations for canned meat and cooked beef bone in equivalent in tonnes with comparative figures for jan feb 1986 in brackets were united states 11200 13400 ec 4700 5100
the remaining 10 billion dlrs consisted of seven billion dlrs owed by government agencies and three billion dlrs by the private sector
the partners also said the federal communications commission established an expedited schedule for receiving comments on their request for special temporary authorization of proposed trust arrangements while the fcc considers a formal application for transfer of the broadcast unit
allwaste alws to acquire service firm
a central bank spokesman said emanuel was referring to payments owed private foreign banks already suspended since january
note extraordinary debit reflected full provision for discontinuing the financial timess printing operations at bracken house in 1988 partly offset by gains on disposals
sales of oil and condensate averaged 1586 dlrs per barrel last year down from 2741 dlrs per barrel in 1985
new dutch special advances announced at 53 pct
moodys rates the debentures a 2 and standard and poors rates them a minus
raimond said negotiations between the two groups took a long time because there were 20 countries involved
the planned task of bringing in no less than 232 mln tonnes of grain is not simple izvestia said
but greater market capitalisation following the big bang restructuring last year provided an opportunity for change
salvage work could pinpoint the exact cause of the loss of the ferry one of three sister vessels plying cross channel routes from england to continental europe
ccl industries inc said it purchased a majority interest in monobloc usa from envases metalurgicos de alava of spain
stocks aug 31 1986 at 4040 vs 4040 last month
the iraqi telex pointed out that some member countries export substantial volumes of oil that are not subject to opec price regulations exports of refined products equity crude on which the margins are equivalent to covert discounts and other forms of hydrocarbons which are marketed in package deals with crude oil
president reagan last year vetoed a textile protection bill but it was reintroduced in this session of congress and is expected to be voted on in the house this year
the spokesman declined to say how much stockpiled tin the gsa sold last year however
inchon india 12600 mt bagged sugar 1000 1000 20 4 5 5 a c kaines
dutch parliament backs stand against oils tax
anacomp rose 1 2 to 6 3 4 on volume of 950000 shares after trading as high as seven earlier
moodys investor service inc said it upgraded grolier incs nearly 116 mln dlrs of debt
i think we got a better deal
imports also fell by 29 pct
the scheme is intended to improve financial management at the banks and reduce the risk of problems in the event of debts turning bad the sources said
the non callable bonds will be guaranteed by the national bank of canada
the european community ec has effectively given japan six weeks to take moves to open its market to imports before it decides on possible tough retaliatory trade measures ec diplomats said
us selling 132 billion dlrs of 3 and 6 mo bills april 13 to pay down 1235 billion dlrs
standard and poors said it may lower its bbb minus rating of clark equipment cos 108 mln dlrs of long term debt because of weak industry fundamentals and the companys plan to repurchase 70 mln dlrs worth of common stock
japan has no plans for new measures to aid dlr
the company said holders of triangle microwave options and warrants will be entitled to receive the difference between 650 dlrs and their exercise price plus contingent payments
the facility will be co arranged by morgan guaranty and the industrial bank of japan ltd
last month it said the bank of england took the opportunity of strong demand to rebuild reserves after losses last autumn
its a sad affair he told the cambridge meeting
in january retail prices rose 66 pct from december to stand 904 pct higher than in january 1986
but net is before net extraordinary loss 1405 mln vs nil
this will create the flexibility to draw and re invest funds in either equity shares or short term bank deposits they said
the united states and japan are on the brink of serious conflict on trade especially over semiconductors japanese unwillingness for public bodies to buy us super computers and barriers to us firms seeking to participate in the eight billion dlr kansai airport project us trade representative clayton yeutter said
it is guaranteed by the state of victoria
trinity industries leasing co offering of 100 mln dlrs of convertible debentures due april 1 2012 through merrill lynch capital markets
uk money market offered borrowing facilties
for one thing some dealers believed that the feds purchases were done on behalf of the bank of japan rather than for the us central banks own account suggesting a rather watered down american commitment to the currency accord
ec official says fate of veg oil tax uncertain
market reports on friday said the stc had booked two cargoes
restaurant associates raa sets 1st qtr gain
all shipments are c and f taiwan
it was quoted around the 1 7 8 pct fees at less two less 1 3 4 and was led by morgan guaranty ltd
this occurred against a backdrop of uncertainty over the course of us interest rates for the intermediate term and predictions by a number of economists that treasury yields would rise in the second half of the year the sources noted
former prime minister robert muldoon an outspoken advocate of a managed float for the nz dollar said the currency is at least 10 pct overvalued
dharyono said the aice will send delegations to the us and japan to brief indonesian embassy officials there and press them to present indonesias case more firmly
us weekly soybean crush 19416000 bushels
oper shr loss two cts vs profit eight cts oper net loss 77000 vs profit 285000 revs 3781000 vs 4721000 year oper shr profit 23 cts vs profit 26 cts oper net profit 90400 vs profit 952000 revs 190 mln vs 151 mln note current qtr and year figures exclude losses from discontinued operations of 303000 dlrs or seven cts per share and 354000 dlrs or nine cts per share respectively
consumption of oil derivatives totalled 114 mln bpd in february 167 pct up on february last year but down from the record 122 mln bpd used in october last year
comp u card international inc cucdo 1st qtr
an american medical spokesman said the company will comment on the new pesch offer by march 10
neworld bank for savings nwor 1st qtr net
but he told the group will hold the 20 pct stake bought from liang as long term investment
the bills are meant to soak up a projected money market surplus due largely to coupon and principle payments of a previously issued japanese national railways bond
the reserve bank said it is cancelling its regular weekly treasury bill tender scheduled for tomorrow
ussr corn buying may be 35 mln tonnes amstutz
ec wheat exports in 1986 87 are forecast at 2822 mln tonnes vs 2831 mln tonnes last month
fiscal 1988 primary earnings per share are projected to be 76 cents based on about 378 mln in post recapitalization common and common equivalent shares outstanding
exchange rate on day of dividend declaration was 20792 pesos per dollar
ico talks on quotas last month broke down after eight days when producers and consumers failed to reach agreement
gelco gel sees flat 1987 pretax operating net
crude oil netbacks up sharply in europe us 
the new division will have production plants in finland sweden norway the netherlands and the us
the repurchase agreement yields compare with the 38125 pct one month and 37500 pct three week commercial bill discount rates today
in december m0 grew by a seasonally adjusted 14 pct and by a non seasonally adjusted 52 pct year on year
shr 12 cts vs seven cts net 817000 vs 512000 revs 1075 mln vs 999 mln avg 69 mln vs 72 mln note 1987 net includes 24 mln dlr pretax gain on settlement 743000 dlrs gain on securities sale interest expense net of investment income of 22 mln dlrs and 920000 dlrs in fiscal 1986
showboat sbo unit sells mortgage backed bonds
bank fuer gemeinwirtschaft ag bkfgf bfg partial operating profits fell to 1826 mln marks in 1986 from 3137 mln in 1985 new majority shareholder aachener und muenchener beteiligungs ag amvgf amb said
among other measures the ipma also decided that the criteria for membership should be tightened to exclude some of the smaller firms
baird batm gets temporary restraining order
the commission has proposed several cost and production cutting measures which include the introduction of a maximum guaranteed quantity system he added
indonesia denies giving palm oil import licences
dataproducts corp said it signed a letter of intent to acquire the imaging solutions inc unit of reliance electric co under undisclosed terms
the bank has 38 billion dlrs of debt
since the bank of england and market makers themselves are known to be in favour of the idea the sources said there was now a presumption that there would be scope for when issued trading to take place
he said the company currently has the sufficient momentum to achieve those earnings and the successful completion of licensing applications to operate in pennsylvania delaware connecticut and ohio should fuel our earnings the company is currently licenced to operate only in new york state
that money will be available until april 1988 if mexicos export receipts and the price of oil fall below certain levels
but despite the impasse some latin american delegates including mexican finance minister gustavo petricioli said they were optimistic a compromise agreement could be reached next month
honeywell said hiss federal systems division is now a wholly owned unit of honeywell inc and has been named honeywell federal systems inc
china is selling more gold abroad to offset large trade deficits in recent years western diplomats said
as previously reported borg warner corp which owns 65 pct of bwas ordinary shares and 100 pct of the preferences advised a month ago that it would not accept the offer
the bank said the the 50 year credit which is interest free comes as there is growing evidence that reforms already underway have improved the countrys economic situation
fees comprise 1 3 8 pct selling concession and 5 8 pct management and underwriting combined
however the pick up seems to reflect an unsustainable pace of inventory building and the prospect for the full year is still for real gross national product growth of about 2 1 2 pct he said
release of the funds from the standby loan has been delayed by argentinas failure to win final approval to a 195 billion dlr loan from creditor banks which was a condition for the imf disbursement
the association said its members recorded about a 6 mln dlrs us loss in each of 1985 and 1986 due to lower traffic and freight rates and increasing competition
spectra physics spy board rejects tender offer
officials said the size of the buffer stock has been reduced because the private sector will hold its own stocks
oper shr loss 20 cts vs profit 66 cts oper net loss 1995000 vs profit 5820000 revs 652 mln vs 530 mln avg shrs 9891000 vs 8811000 note 1986 loss excludes extraordinary loss of 2413000 dlrs or 25 cts shr including corporate reorganization discontinuing of us operations and inventory writedown of us subsidiaries vs yr ago loss of 3140000 dlrs or 36 cts shr
lbs choice round cuts steady up 1100 160 round part bnls 50 85 few 137 161 round bnls 42 80 few 147 161 diamond cut 49 85 few 149 167 knuckle 8 15 few 148 167a knuckle peeled 8 15 few 163 168 top inside round 14 26 165 175 170 bottom gooseneck rnd 18 33 131 135 more
company shares in each of the licences proposed by the oil and energy ministry are not final
fob exports rose 146 pct from a year earlier in the first 20 days of february to 1091 billion while cif imports fell 32 pct to 733 billion
as a result of the weakness in soymeal the march crush ratio the value of soyproducts less the cost of the soybeans fell from the mid 30s earlier this month to 226 cents per bushel today dropping over five cents in just the last two days
continental did not give further details
other issues discussed include ratification of the new accord the officials said
otherwise they fear the gradual re establishment of normal market conditions for latin borrowers will be set back
ford motor co said it is developing an aluminum space frame for its probe v concept car using extruded stretch formed aluminum that could lead to new techniques for building production cars in the future
it said a group or individual buying up a companys stock should be required to file a public disclosure statement before acquiring more than five pct of the companys shares
a paribas official said euratom had timed the issue to coincide with the 30th anniversary of the treaty of rome
an expected german mark appreciation against the dollar means that the lira should lose about six pct of its value relative to the german currency he said
oper shr loss 20 cts vs loss 81 cts oper net loss 1042000 vs loss 4077000 revs 385 mln vs 503 mln 12 mths oper shr loss six cts vs loss 43 cts oper net loss 336000 vs loss 2176000 revs 1378 mln vs 2091 mln note qtrs 1986 and prior exclude net realized investment gains of 74000 dlrs and 644000 dlrs respectively and years 1986 and prior exclude realized investment gains of 642000 dlrs and 1979000 dlrs respectively
at least a half dozen such debt equity swaps have already taken place in venezuela
japan minister says about 170 yen appropriate
qtly div nine cts vs eight cts in prior qtr payable march 31 record march 13
ghana cocoa purchases 1323 tonnes in latest week cumulative 216095 tonnes official
the spokesman would not say what was on the agenda
the competition in this state is tough he said noting citybanks recent purchase of 50 financial service branches from sears roebuck company
no reason to cut rates bundesbanks schlesinger
standard chartered and co lead mitsui trust finance hong kong ltd will take up some 60 pct of the loan
the market is expecting prices particularly wheat to stay buoyant for the remaining few months of the season
hopes mounted for an agreement on cocoa buffer stock rules at an international cocoa organization icco council meeting which opened here today delegates said
miyazawa says current dollar yen rate not necessarily satisfactory
bayer confident of posting good 1987 results
secretary of state george shultz has decided not to oppose any us wheat subsidy offer to the soviet union and has left the final decision on whether to sell subsidized wheat to moscow up to president reagan and the agriculture department a state department official said
ex arco arc chief sees energy crisis by 1990
implementation of a 0 92 program a tightening up of the use of commodity certificates and reconstitution of farms are possibilities that will be studied to reduce farm spending said dan glickman d kans chairman of the house agriculture subcommittee on wheat soybeans and feedgrains
gander gndro buys western wear retailer
bass group says it has had talks on seeking control of taft broadcasting
for this five month period ecuador did not exercise its right to produce 221000 bpd he said
bundesbank retains money supply policy
bundesbank figures showed that banks held an average daily 51 billion marks in interest free minimum reserve assets at the central bank over the first 29 days of the month
weinberger was asked why the united states had chosen to attack an oil platform rather than iranian silkworm missile platforms blamed by washington for fridays attack
but subroto said relations with oil companies were two way and that they should step up expenditure on oil exploration now that the oil price had recovered
the company earned 302 mln dlrs or 166 dlrs per share before an extraordinary item in fiscal 1986
giant bay resources ltd said a metallurgical study of its gordon lake gold deposit indicated an overall recovery of 95 pct to 96 pct of the gold can be achieved by either direct cyanidation of ore or flotation followed by cyanidation of concentrate
schering plough corp said it is considering the sale of its dr
firm reduces sceptre resources srl holdings
the commodity credit corporation ccc has switched 250 mln dlrs in wheat credit guarantees to jordan under the export credit guarantee program to the intermediate export credit guarantee program the us agriculture department said
shr 11 cts vs 13 cts net 1129000 vs 1301000 revs 832 mln vs 745 mln year shr 57 cts vs 82 cts net 5686000 vs 8168000 revs 3984 mln vs 3338 mln
shr 92 cts vs 91 cts net 241 mln vs 227 mln avg shrs 254 mln vs 248 mln nine mths shr 20 cts vs 258 dlrs net 6028000 vs 627 mln avg shrs 254 mln vs 243 mln assets 103 billion vs 921 billion deposits 710 billion vs 632 billion loans 652 billion vs 560 billion
second round bidding began at the end of 1984 and only one well has so far produced results lufeng 13 1 1 250 km south east of shenzhen with an output of 6770 barrels a day
at present if the market price has been above or below the reference price for six months the reference price is revised by five pct or by an amount decided by the international natural rubber organisation council
rose estimated the aerospace business could bring 30 to 40 dlrs per share or one billion dlrs as would diversitech the plastics unit
the annual rate of growth in february was 37 pct up from 16 pct in january
in the capital account not seasonally adjusted there was a total net inflow of 476 billion dlrs in the fourth quarter up from a net inflow of 322 billion dlrs in the third quarter quarter
in 1986 farmers planted 615 mln acres of soybeans and 767 mln acres of corn according to the february 9 usda supply demand report
that compares with 11 mln dlrs a year for the average burger king and 800000 dlrs a year for the average wendys since it cost about the same to build a single store for any one of these chains he said mcdonalds can well justify their expansion lee expects mcdonalds to earn 440 dlrs a share in 1986 and 515 dlrs in 1988
japanese primary aluminium imports rose to 98170 tonnes in february from 91157 in january and 94926 a year earlier the japan aluminium federation said
up until now there have been no restrictions on lead managing eurobond issues
canada 7 year bonds average 797 pct yield
rocky mountain medical corp rmedu 1st qtr loss
woodhead faulkner founded in 1972 publishes international banking finance and investment books
this would make trading more transparent if it reduced the proportion of off floor interbank bond trading now some 90 pct of the volume of bond transactions here the bankers say
the monetary authorities of the major industrialised countries lost their credibility this week as the dollar was sold off despite pleas from ministers and widespread central bank intervention dealers said
prior year net excludes tax credits of 5775 dlrs in quarter and 17325 dlrs in nine mths
prior nine mths net includes gain from sale of real estate of 3820000 dlrs
both south atlantic and independence are insurance companies
the japanese export import bank said indonesia had raised its share of pt indonesia asahan aluminium company capitalised in 1975 at 91 billion by swapping 32 billion yen in government loans to the company for an equity stake
van dorn co vdc sets quarterly
the main issue at the talks which opened here yesterday has been the inro buffer stock and the manner in which the buffer stock manager should continue to sell rubber after the current international pact for the commodity expires on october 22 they said
glickman which instructs the us agriculture department to value eep bonus commodities at market value not acquisition value
the new company will be directed by a six member board with three representatives each from pdvsa and union pacific
in order to encourage the construction of additional smelters aluminium prices will need to settle at a higher level
the department said the purchase completes the export enhancement program initiative for dairy cattle to morocco announced on april 16 1986
the market wants to take the dollar lower uncertainty over central bank action and nervousness over a g 5 meeting next week in advance of a meeting of the international monetary fund could make for choppy price activity the remainder of the week mills said
earlier this month mannesmann disclosed that it might want a majority stake in sachs after previously saying it was seeking to buy only a minority holding in the company which has annual turnover of 22 billion marks and employs 17000
the slowdown in income growth is likely to cause housing starts to drop by 42 pct this year and a further six pct in 1988 to an annual rate of 163 mln units
shr 210 dlrs vs 183 dlrs net 5919000 vs 5168000 revs 350 mln vs 343 mln nine mths shr 509 dlrs vs 355 dlrs net 14391000 vs 10099000 revs 88 mln vs 837 mln note curent nine mth figures include 22 mln dlr or 79 cts per share gain resulting from change in accounting method for unbilled revenues
qtly div 35 cts vs 35 cts prior pay may 14 record april 30
cohen also noted that todays silver price break through six dlrs an ounce indicates small investors are entering the precious metals market and he expects the ratio between gold and silver prices to narrow
orders on hand at end 1986 totalled 364 billion marks against 332 billion at end 1985
us telecommunications inc ut 3rd qtr net
rexnord nc said it signed a definitive agreement to sell its railway maintenance equipment co subsidiary to banner industries inc
the 607 mln dlr extraordinary gain all in the third term reflected a 2407 mln profit on the sale of blue circle southern cement ltd offset by a us oil acreage writedown
six killed in south african gold mine accident
barwon also said it made recommendations to the government on how it could purchase the class a shares which can only be held by a philippine national or a firm which is at least 60 pct held by a member of the country
i say we have waited long enough nugent said
details of the purchase were withheld
the aid donors and commercial bank creditors would then be asked to finance any gap on a shared basis
shr 38 cts vs 47 cts net 968000 dlrs vs 1053000 dlrs revs 154 mln dlrs vs 126 mln dlrs notethe year ended march 31
shr loss 35 cts vs profit six cts net loss 3555293 vs profit 649715 revs 4451732 vs 3910652 note 1986 net includes 37 mln dlr writedown of oil and gas properties
non callable for two years the issue is rated a 3 by moodys and a minus by standard and poors
the bank noted pakistans low educational attainment particularly among women is an obstacle to the countrys development
the bill which must still be approved by parliament would take effect in april 1988
dai nippon to issue three domestic convertibles
dutch brewer heineken nv said it hoped to maintain for a number of years a similar earnings growth to the 75 pct increase in net profit achieved in 1986 despite continuing investments in a reorganization program and efforts to extend world penetration
standard and poors corp said it affirmed banner industries incs 135 mln dlrs of b minus subordinated debt following its purchase of rexnord inc
debt to capital will be slightly more than 60 pct pro forma but since chicago pacifics plant is modern capital spending is considered largely discretionary it said
we all agencies are together on this said one us trade official
with the inras ability to keep prices at a certain stable level consumers are assured of rubber at almost a fixed price while producers may never see sharp price rises a malaysian rubber producers council source told 
it also said the project hopes to increase road safety by improving signs aiding enforcement of axle load legislation and adding patrol cars and communications equipment
efhutton efh extends purolator pcc offer
stevens said it was reasonable to suggest the pipeline could operate at full capacity when it reopens in order to make up for the shortfull but cautioned they will talk with customers to determine their requirements
it operated the field until dredging ceased in 1967
international coffee prices could drop to between 70 and 80 cents a lb by next october if no agreement is reached to support the market jorge cardenas manager of colombias national coffee growers federation said
this years exports are estimated at 2400 tonnes
the grey market exports from japan are shrinking now but in contrast us and south korean companies are expanding market share because of their cheaper prices honda said
speaking to the national association of manufacturers proxmire said recent insider trading stock scandals increased the chance that congress will act to curb abuses
drexel official has stake in epsilon data epsi 
taft broadcasting yesterday however said financial advisor goldman sachs and co found the offer to be inadequate
mccormick and co inc mccrk 1st qtr feb 28 net
net includes tax credits of 9450000 dlrs vs 119 mln dlrs
outboard marine today was trading at 33 5 8 down 5 8
in the group this nearly doubled to 264 billion marks from 145 billion
this weeks ontario government auction of 50 mln dlrs worth of 91 day treasury bills yielded an average of 691 pct up from 687 pct last week a treasury department spokesman said
american sports advisors inc said it has agreed to sell its sports handicapping and publication business to professor enterprises for about 1650000 dlrs and intends to liquidate after closing
it said a bank can sell the bonds on the secondary bond market for either dlrs or pesos depending on its requirement
taft broadcasting has never commented on reports that its major stockholders met recently to discuss a break up of the company
washington signed a three year accord with taipei last year limiting textile export growth to 05 pct a year
he put sugar stocks at 2333 mln tonnes in september 1986
the sullivan mine at kimberley about 450 miles east of vancouver produced 22 mln long tons of ore last year most for processing at the trail smelter
coastal cgp says transamerican suit frivolous
the company attributed the lower earnings to narrowing profit margins on stretch film
shv said in a statement it had sought to gain 750000 ic gas shares under a 700p offer for ic gas ordinary stock but was informed that level was not reached when the deadline expired
also excluded are reserves of 1400000 tons of low grade material that could be milled profitably at 425 dlrs a ton for gold
nor is it reasonable to expect that it should be considering south korea has a 40 billion dlr foreign debt and spends six pct of its gross national product on defense
turkish central bank sets lira dollar dm rates
this would make five cents for the year against a first and final of one cent in 1985
shr profit five cts vs profit two cts net profit 268000 vs profit 134000 revs 6951000 vs 5938000 12 mths shr profit 14 cts vs loss 11 cts net profit 801000 vs loss 623000 revs 246 mln vs 243 mln note full name of company is american physicians service group inc
again most of the drop came from the middle east and africa where reserves fell to zero from 719 billion cubic feet excluding libyan reserves
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
but miners union chief simon reyes told reporters the strike had nothing to do with subversion and was to press for more government investment in comibol
shr 71 cts vs 43 cts net 7274000 vs 4447000 rev 1616 mln vs 776 mln year shr 151 dlrs vs 132 dlrs net 15401000 vs 13525000 rev 4540 mln vs 3049 mln
the pioneer sugar investment would make csr by far the largest player in australias 850 mln dlr a year sugar industry and would give it access to some of the best sugar properties and mills in the country analysts said
the policy change was announced two days before the scheduled arrival of us commerce secretary malcolm baldrige for talks with trade minister rha woong bae
the strong contribution of exports to the growth in australias gross domestic product gdp in the fourth quarter of 1986 was a significant and welcome feature of the data private economists polled by said
maxxam group inc mxm 4th qtr loss
interest rates are down across the spectrum reagan said
carolina power said mayo two was projected to cost about 877 mln dlrs including 200 mln dlrs for scrubbers
following sale of becors aerospace subsidiary in february the management group led by president william winter announced plans for a 2381 mln dlr leveraged buyout
the company said proceeds from the 451 mln dlr offering will be used to reduce debt for working capital and for capital expenditures
those who sow wind cannot expect the whirlwind to visit elsewhere he added
erie lackawanna inc erieo 3rd qtr net
the analysts said sumitomo will have to devote a lot of time to digesting its most recent initiatives including the merger with ailing heiwa sogo
among the main factors affecting liquidity exchequer transactions will add some 985 mln stg to the system today while a fall in note circulation and bankers balances above target will add around 360 mln stg and 110 mln stg respectively
from the third year the bonds will pay interest at a rate of four pct over six month london interbank borrowed rate libor they will be issued in denominations of 50000 dlrs and will be listed in luxembourg
the company in reporting its annual results said the change was made to bring its financial reporting in phase with the order cycle of its major customers
us business inventories rose 56 billion dlrs or 09 pct to a seasonally adjusted 59219 billion dlrs in january the commerce department said
the holder may convert the remaining half of the principal amount beginning may one at a conversion price calculated according to terms of the indenture damson said
fhlbb changes short term discount note rates
note net is after tax credit 66 mln vs tax paid 4339 mln depreciation 4118 mln vs 3410 mln interest 4242 mln vs 3623 mln and minorities 11000 vs 112 mln but before extraordinary net profit 2498 mln vs loss 5171 mln
1986 2nd qtr and six mths net includes 361000 dlrs and 1747000 dlrs for tax credits
the central bank issued 565 billion dlrs worth of certificates of deposit cds boosting cd issues so far this year to 14758 billion a bank spokesman told 
he denied the action had been taken for that reason
you just dont send it abroad
ec 12 coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 1491 1493 1053 1053 production 8122 8119 8821 8828 imports 1658 1726 1829 1824 dom use 7964 8127 8238 8255 exports 1990 1996 1973 1956 end stocks 1318 1215 1491 1493 eastern europe coarse grain mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 407 372 514 514 production 7395 7450 6828 6838 imports 490 447 558 526 dom use 7304 7323 7265 7277 exports 355 355 228 228 end stocks 634 546 407 372 japan coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 232 223 191 191 production 035 035 039 039 imports 2156 2150 2151 2151 dom use 2179 2173 2149 2149 exports nil nil nil nil end stocks 244 244 232 232 argentina coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 078 053 083 083 production 1399 1544 1706 1714 imports 002 nil nil nil domes use 773 775 776 787 exports 660 773 943 958 end stocks 046 049 078 053 canada coarse grain in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 619 619 466 461 production 2762 2762 2495 2495 imports 030 030 031 031 dom use 1980 1980 1899 1896 exports 741 721 474 472 end stocks 690 710 619 619 thailand coarse grains in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 049 038 016 016 production 440 440 567 547 imports nil nil nil nil domes use 157 137 140 130 exports 310 330 394 395 end stocks 022 011 049 038
there has been a reassessment of sterlings fundamentals lawson said
usda forecast argentinas 1986 87 wheat crop at 900 mln tonnes vs 900 mln tonnes last month while the 1985 86 crop was projected at 850 mln tonnes vs 850 mln last month
the officials added that while the curbs complicated us japanese economic cooperation they did serve to blunt congressional criticism that the reagan administrtation was not taking tough actions to reduce he us trade deficit
joseph jamail a houston attorney for pennzoil said the company had made its latest settlement offer to texaco on saturday and was taken by surprise when texaco filed for bankruptcy
the state offers cheap fertiliser and diesel oil and payment in advance to farmers who contract to supply grain at a low state fixed price
holders of the certificates are entitled to a quarter of the 1986 payment or around 250 marks the company added
zim said chemclear inc cmcl has unilaterally canceled an agreement to merge with zim and zims board is studying the possiblity of a claim against chemclear
petroleum and resources corp peo march 31
harbour workers around the country went on strike for 24 hours on march 16 but wilson said any further action will occur on a port by port basis
merchant demand has fuelled the rise in lme lead prices this week and has seen cash metal move above 320 stg and establish a premium of around 10 stg over three months delivery
shr loss 26 cts vs loss 12 cts net loss 289649 vs loss 138372 revs 5944286 vs 5902074
they saw near term technical support at 1825 marks and 145 yen and resistance about 183 marks and 146 yen
indonesian inflation rate 88 pct in 1986 87
sen
trinity industries inc trn 2nd qtr sept 30
it expects its revenue to approximately double in 1987
some dealers now believe that if the dollar falls below 148 yen it will pick up renewed downward momentum and slide to 145
its products are complementary to those of glynwed subsidiaries durapipe uk and philmac
some 120 billion francs of the loan will be taken up by members of the issuing consortium comprising major commercial banks and the remaining 30 billion by publicly owned credit institutions
atlas consolidated mining acmb 4th qtr
ust inc ust 3rd qtr net
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
the reason for the higher losses reflect lower prices as well as higher operating costs related in part to the fraudalent use of the network
the uk exported 612000 tonnes of wheat and 498800 tonnes of barley in february the home grown cereals authority hgca said
malaysias 1986 manufacturing exports rise 24 pct
he said peru exported 1616101 quintales in the year to september 1986
mepc plc mepcl said that its offer for oldham estates ltd would remain open until further notice
the new agreement contains an exit vehicle under which banks can convert their debt into 10 year loans
kohl reiterated german objections to proposed cereals production curbs but reserved his harshest criticism for a proposed dismantling of monetary compensatory amounts mcas a system of cross border subsidies and taxes which level out foreign exchange fluctuations for farm exports
kellwood co said it signed a definitive agreement to acquire robert scott ltd inc david brooks ltd inc and andrew harvey ltd of dedham mass
the government will also receive 85 mln sdrs under a new stand by agreement
there have to be structural changes that occur to make the market stop selling dollars added buying six billion dollars in three weeks is not going to do it late last decade during the presidency of jimmy carter when the dollar was last under heavy speculative attack central banks sometimes intervened to the tune of six billion dlrs in a single day but still failed to stop the dollar falling to a record low of 170 marks analysts said
the notes due march 31 1992 will be guaranteed by the sumitomo trust and banking co ltd and the sumitomo bank ltd
momentum in th us economy may be picking up given solid across the board increases in the february us employment report economists said
private wealth is still very high and banks report more and more cash being placed on deposit
yet there was some concern a shortage could eventually develop for bonds that mature in 10 or more years
my gut feeling is that common sense will prevail
nvhomes nvh sets two for one split
australia and new zealand banking group ltd anzas said it will make a one for two bonus issue from its asset revaluation reserve to shareholders registered june 2
asked which ec countries might be expected to vote against the proposed tax he said realistically from the information were getting it looks like the english the germans hopefully the netherlands and denmark his delegation also hoped to convince belgium to vote against the issue he added
international coffee organization ico producing countries will present a proposal for reintroducing export quotas for 12 months from april 1 with a firm undertaking to try to negotiate up to september 30 any future quota distribution on a new basis ico delegates said
the bank of england said it had provided the money market with 728 mln stg assistance in response to an early round of bill offers from the discount houses
mclean said sea land has tentatively agreed to pay 125 mln dlrs for six vessels certain port facilities and various other equipment used in us lines transpacific service and theree lancer class vessels and subsidy rights owned by the two mclean subsidiaries
it expects to raise another 40 mln ecus soon through a french fund and a fund for us investors
for purposes of comparability following the reorganization of july 1987 net figures including those for 1986 are reported before preferred dividends
even though outboard would use proceeds from the share offering to pay down debt and there would be less debt the acquiring company would assume it still means more shares the suitor must buy to acquire the company he said
clevite industries says jp industries offered 1350 dlrs a share to buy company
renison goldfields extends lyell copper mine life
consumer delegates said they were optimistic the council could reach agreement on the rules fairly quickly
rhodes inc rhd declares dividend
prior year results restated
but critics have been warning for years that the constant exposure to the drugs is helping bacteria learn to resist the drugs
a 1026 mln dlr gain on the sale of cps cominco ltd interest helped raise final 1986 fourth quarter profit to 1938 mln dlrs or 65 cts a share
the quotas were implemented in 1977 at a time of heavy japanese foreign beef imports
dome petroleum reiterated in the sec filing that its existence as a going concern is dependent on continuing the interim debt plan due to expire on june 30 and winning agreement for its proposed restructuring plan
lyphomed inc lmed offering of 70 mln dlrs of convertible subordinated debentures due march 15 2012 through alex
it said western ranchman had sales for the year ended jan 31 1987 of about 22 mln dlrs
flight international group inc flti 3rd qtr
output of construction supplies rose 02 pct in february after a 15 pct january rise
companies also rated their export possibilities higher
since then zambia has operated a fixed exchange rate of about nine kwacha per dollar
about 14 to 15 inches of ice were reported between locks three and four on the upper mississippi river but other sections were generally free of ice the spokesman said
north yemen bought white sugar at tender trade
jwp inc jwp 3rd qtr net
net write offs in qtr 1987 vs 1986 totaled 338 mln vs 342 mln and in year to date 1987 vs 1986 of 106 billion vs 988 mln
abroad six ships lay idle in the netherlands spain venezuela france and south africa he said
delmed inc dmd year loss
the us drilling rig count fell by four last week to a total of 758 against 723 working rigs at this time last year baker hughes inc said
so far though the japanese are being cautious
continental materials corp said its directors decided not to give further consideration to business combination proposed by a stockholder group that holds 52 pct of continental materials stock
the measures are a part of the defense authorization bill which will be voted on in the house next month
pratt which owns the sands hotel and casino in atlantic city nj where caesars operates the boardwalk regency hotel and casino recently waged an apparently unsuccessful campaign to acquire control of resorts international inc rta against new york developer donald trump
dorsey dsy completes sale of unit
as soon as they need corn theyll buy it he added
shr primary 73 cts vs 60 cts shr diluted 70 cts vs 58 cts net 38528000 vs 31680000 avg shares 52087634 vs 51294652 note qtr net interest income is 1307 mln dlrs vs 1148 mln dlrs
baker did was to mention the obvious in public so making him responsible for it was a little like killing the messenger he said
conoco inc a subsidiary of dupont corp said it was increasing its contract prices for crude oil between 10 cts and one dlr a barrel effective today
the average number of working rigs in the us for 1987 is projected at 978 versus 964 in 1986 according to ike kerridge vice president of stockholder relations at hughes tool
john mccain an arizona republican told reporters
in addition it bought 294 mln stg of paper for resale to the market on march 30 and 147 mln stg for resale on april 8 in both cases at an interest rate of 10 7 16 pct
american can co filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be determined at the time of the sale
krupp stahl ag krpbf said it will cut about 2000 of a total 18000 jobs by the end of 1987 and is considering reducing the work force by a further 3000 in subsequent years
the purchase was part of a strategic plan to diversify and then match earnings between copper and non copper operations
general hydrocarbons distribution delayed
justin silverton equity economist at credit suisse buckmaster and moore said a full point reduction might be possible
funaro who is accompanied by central bank governor francisco gros met only with government officials of the countries visited over the week
reserves have increased every year since 1983 at a compounded rate of 10 pct a year
we have clearly stretched the restructuring process to its limits and and the question is now where do we go from here a senior mexican foreign ministry official said
in late march sosnoff said he had received a negligible number of shares in response to the offer which had been rejected by caesars as inadequate
andover had expressed an interest to acquire the company in september 1986 but hbo has never received an offer from them it said
last week underwoods shares rose 49p to 237p ahead of any announcement of the talks
the bonds will be listed in london and will be issued in denominations of 1000 stg
an agreement in the debt rescheduling talks between the philippines and its commercial bank advisory committee seems to be close at hand said david mulford assistant secretary of the us treasury
in december it allowed non residents holding at least an a rating from one of the agencies to issue samurai shogun and euroyen bonds without first meeting the normal stringent financial criteria
commenting on the two week statement period that ended on march 11 the fed estimated that banks had daily average net free reserves of 759 mln dlrs rather than the 660 mln dlrs first reported
per share amounts are calculated after preferred stock dividends
spains broad based m 4 money supply rose at an annualised rate of 167 pct in february against 81 pct in january and 224 pct in february last year bank of spain figures show
prime minister andreas papandreou has withdrawn a request to washington to suspend operations at an american army base near athens as a greek turkish row over oil rights in the aegean eased
strenger noted that the industry had lost public confidence following several cases of chemical pollution of the rhine late last year
it said it expects to start talks with prospective acquirers shortly
finance minister edouard balladur said half the january rise was due to higher oil prices and forecast a february slowing
overall however trader and roaster opinion on the likelihood of a successful re negotiation was mildly pessimistic varying between a 50 50 chance and 60 40 against
we expected farmers to increase hog operations but we didnt expect this degree of expansion to show up in a 10 state spring report levitt added
greenmail describes a buyout of a minority shareholder at a price not available to other holders
the kansas city exchange asked the commission to amend its proposal to change the limits for kcbt wheat to the exact same bushel amount as specified for cbt wheat
barricini foods inc 1st qtr loss
all steers imported into the united states from mexico must now be branded with the letter m on the right jaw the us agriculture department said
chemlawn said its board was determined that wastes offer was inadequate and not in the best interest of shareholders and could adversely affect the interests of its employees suppliers creditors and customers
more
it is only britain which has openly come out to say it would withhold funds intended for the auction system of foreign exchange chigaga said
about 40000 tonnes sold for ocean shipment at prices ranging from 19967 to 21017 dlrs per tonne c and f and about 11000 tonnes sold for rail shipment at prices from 20550 to 21788 dlrs per tonne they said
german financial policy makers in rare dissension
it would also have to achieve a better balance between investment and domestic savings if it wants to be able to dispense with foreign capital
the new inra was adopted yesterday at a session held under the auspices of the united nations conference on trade and development unctad in many respects the main features in the new pact resemble those contained in the present one
continental information systems cny 2nd qtr
allegheny ag officers to run company
bolivian tin miners start hunger strike
the market is also anticipating active institutional dollar sales to hedge currency risks on bond holdings from the new business year starting april 1 dealers said
lindner chairman of american financial corp holds 162 pct of taft
electronic industries association of japan eiaj chairman shoichi saba stated eiaj believes that it is premature and even irrational to attempt an assessment of the impact of the agreement and our efforts to comply with it only six months after concluding the agreement we urge us governmental authorities to reconsider the decision made to evaluate fairly the results of japanese efforts in implementing the objectives of the agreement and to resist emotional biases he said
of the shares being offered 490000 shares will be sold by general electric credit corp and 140000 by other shareholders
however sharp said that internal accounts showed the company was in profit in the first two months of 1987
congressmen from beef producing states and representatives of the us livestock industry urged the reagan administration to press japan and south korea to open up their markets to imports of beef
the battle however has heated up and the range of breakup values on wall street span from the current market price to almost 60 dlrs per share
multifoods is asking bregmans group to divest its shares in open market sales in a manner not to further disrupt the market place according to the suit
sugar which ec producers plan to sell into intervention may be offered by the european commission for sale within the community broker c
macmillan bloedel mmblf stock split approved
only 15 pct of the victims reported eating raw infected hamburger
oper shr profit one ct vs profit two cts oper net profit 63000 vs profit 84000 sales 5009000 vs 4042000 1st half oper shr profit two cts vs loss 17 cts oper net profit 87000 vs loss 794000 sales 9838000 vs 7368000 backlog 178 mln vs 114 mln note current year net excludes tax credits of 32000 dlrs in quarter and 45000 dlrs in half
it expires april 3
in the past volcker has joked that he never lost sleep worrying whether congress would cut too much fat from the federal budget
bayer usa bayry affiliates increased sales
a further stronger yen would be a misfortune for japan and the japanese people would not be able to bear such a burden he told reporters
we are confident that 1987 will top 1986 in earnings per share and are optimistic about our longer term future as well the company said in its 1986 annual report
norton nrt to sell south african operations
the rebate granted at yesterdays ec sugar tender represents some concession to producers complaints that they are losing money on exports outside the bloc ec commission officials said
that was a feeling among people on the committee one banker said
the investors told the sec they are continuing to review their positions company and may acquire more shares or sell some or all of their current stake
during the prior year the company operated as f and m importing a publicly held wholesale food distributor
freezing rain was scattered over central colorado by mid morning also over central kansas and northeast illinois
a coupon of 1 2 pct equal to the lowest ever in the swiss franc market has been set for sumitomo corps 200 mln franc convertible notes due september 30 1992 lead manager swiss bank corp said
we think twa might just be putting up a trial balloon analysts said the offer must be taken seriously by usair but that the airline will probably reject it because the price is relatively low compared to other airline deals
assets of money market mutual funds fell 353 mln dlrs in latest week to 23743 billion
one way that mexico could punish recalcitrant banks would be to deny or at least slow down applications to convert mexican debt into equity investments within the country
since that time it has sold two small retail operations closed and consolidated five domestic footwear factories and closed about 15 retail locations
while this is about the same price as us corn ec corn has lower transport costs the department noted
at the end of last year flats in taikoo shing were selling at 1100 dlrs per square foot up by about 20 pct from a year ago said frederick tsang of mansion house securities fe ltd
of them some 18000 clients cla27imed they could get back neither gold or money suffering an aggregate loss of 150 billion yen local press reports said
meanwhile traders are no longer required to report all outward payments concerning invisible trade including freight insurance and royalties to the central bank
ariadne with about one billion dlrs in assets and turnover of about two billion has interests also in mining real estate and agricultural products
the post detente embargoes have taught the ussr to limit its trading with the us he said
the forecast came in the treasurys financial statement and budget report issued after the chancellor of the exchequer nigel lawsons annual budget statement to parliament
in addition there are four mln restricted shares outstanding
if new american legislation aimed at curbing unfair subsidies was used to exclude foreign suppliers it would not be surprising if british firms pressed for retaliatory measures younger said
canada oil exports rise 20 pct in 1986
sure the fed bought dollars near the 150 yen level in january
the government has estimated the economic cost of the earthquake last thursday night at nearly one billion dlrs including oil revenues lost because an oil pipeline was damaged
despite the stronger states net needs in the week their cash position and other market dependent influences just about balanced the outflow of liquidity from the money market through an increase in cash in circulation the bundesbank said
the public prosecutors and police here arrested five former senior executives of a bankrupt gold deposit business group for defrauding about 450 clients of about 15 billion yen for gold bars which were never delivered police said
the interest surplus fell 28 pct compared with 2 12ths of 1986 results while the commission surplus because of the quiet stock exchange business fell back still more strongly
italys bnl negotiating purchase of german bank
oil analyst sees papua new guinea as good prospect
we have never written off a loan he added
most dealers said they doubted the us federal reserve would intervene on its own account to support the dollar but some said this might occur if the dollar fell much below 148 yen
iraq and china have barter deals with brazil importing brazilian goods in exchange for oil but the saudis buy nothing from brazil he said
but anything that went as far as a direct attack on kuwaiti territory would be a very serious escalation likely moving world opinion against iran remarked one
contl illinois sees months of brazil debt talks
us treasury secretary james baker met west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl in frankfurt on monday a bonn finance ministry spokesman said
balladurs comments came after us treasury secretary james baker said on sunday that the us would have to re examine the louvre accords in the light of the rise in west german short term interest rates
the new fortune savings bank office had about 40 mln dlrs in deposits as of june 5
shr 42 cts vs 21 cts net 191 mln vs 9528000 sales 1012 mln vs 656 mln avg shrs 460 mln vs 460 mln nine mths shr 108 dlrs vs 69 cts net 491 mln vs 327 mln sales 2800 mln vs 2010 mln avg shrs 456 mln vs 474 mln note share adjusted for february 1987 two for one split
ariadne unit confirms bid for san miguel
april 75250 south and central 751 north average 75250 down 650
volatility likely to remain low in debt futures
the canadian dollar traded at 13218 23 per us dollar today down from 13185 90 yesterday
usair earlier today rejected twas offer saying twas bid was an attempt to interfer with its buyout of piedmont
fees consist of a 7 8 pct selling concession and 1 2 pct combined management and underwriting
colombian oil installations were not damaged by an earthquake which shook ecuador and southern colombia last night and there are no plans to suspend exports a spokesman for the state run oil company ecopetrol said
dutch port union to meet parliamentarians today
the company said it is evaluating the proposals from paul bilzerian and from a third party which is active in the leveraged buyout field but which pay n pak declined to identify
new zealands trading bank seasonally adjusted deposit growth rose 21 pct in february compared with a 26 pct rise in january the reserve bank said
the higher rate forecasts reflected a belief that japanese investors will be less eager to buy us bonds because of fear about further dollar erosion and perhaps in response to us trade sanctions
some of the slowness experienced in the october december period had been expected to spill over into the first quarter this year as the tax law changes that went into effect in january slowed business and consumer spending
the debentures are convertible into the companys common stock at 10925 dlrs per share representing a premium of 15 pct over the stock price when terms on the debt were set
payout for dividend is may six to stockholders of record on april 13
caisse centrale des banques populaires will lead a 300 mln issue for the groupement des industries pour le batiment et travaux publics
a policy of cutting wheat production could lead to unemployment with job prospects outside agriculture limited
these conditions are that offers from registered companies should be in pounds sterling for cocoa beans for which standard differentials have been set in the iccos buffer stock rules and can be for cocoa afloat through to december shipment and spot to december arrival delivery
atari corp said it has canceled a planned 75 mln dlr domestic offering of convertible subordinated debentures in favor of an overseas offering
ambrit inc abi in payout
he said sugar markets were holding up despite encroachments from artificial sweeteners and high fructose corn syrup
in the year beginning april 1 nec will boost chip imports which comprised some 20 pct of all nec chip consumption the year before
the european community ran a 182 billion dlr trade deficit with japan last year and seeks redress when it feels japanese trade policy hurts europeans diplomats and economists said
us lends sudan 57 mln dlrs for wheat purchases
far west financial corp said its far west savings and loan association unit has reached an agreement in principle to acquire all the outstanding stock of progressive savings and loan association prsl far west said it does not expect the cost of the transaction to exceed 15 mln dlrs
mexico halted the debt equity program on feb
certificated cotton stocks
unicorp american uac acquisition advances
davis water and waste industries inc said it has restated its earnings on a pre stock split basis for fiscal 1987s third quarter and nine months ended january 31 which were reported march 10 on a post four for three stock split basis
call money rates declined to 375 80 pct from 390 95 yesterday with the market well stocked with liquidity
indias national foodgrain target has been fixed at 160 mln tonnes in 1987 88 apr mar unchanged from the 1986 87 target the agriculture ministry said in its annual report for 1986 87
what you will see probably in the future is american express selling an additional 17 pct in the public market and have a public vehicle for shearson long said
woolworth z completing tender offer
international efforts to redirect japans export driven economy toward domestic consumption face heavy going if the countrys largest defence contractor and worlds biggest shipbuilder is anything to go by
japan is expected to send a high level official to washington early next month to try to convince the us not to go ahead with the tariffs on april 17
affiliated publications inc said it agreed to acquire all the outstanding stock of billboard publications inc for 100 mln dlrs in cash from a shareholder group led by boston ventures limited partnership
the ruling came in a lawsuit in which the air transport employees union said westerns management should fulfil a promise to honour union contracts if a merger took place
fees total two pct with 1 1 4 points for selling and 3 4 for management and underwriting combined
there is no formal plan yet but talks are in the latter stages one representative of the german banking association in cologne said
ryans family steak house ryan sets split
it has flowed in mainly from hong kong japan and the us since september 1985 the taiwan dollar has risen by about 22 pct against the us dollar
zenchiku issues 40 mln dlr equity warrant bond
the company said under the agreement in principle rkos application to renew the stations broadcast license would be dismissed and the competing application of fidelity television would be granted
circle express inc said negotiations on its proposed acquisitions of overland express inc and privately held continental training services inc have been terminated by mutual agreement
other bankers and economists said they are wary of making any firm predictions about how far the taiwan dollar will rise
technical and seasonal considerations aside there is nothing for the credit market to get excited about added robert di clemente of salomon brothers inc
doe run company said it is increasing the price of its corroding grade lead by one half cent to 2650 cents a lb effective immediately
holders will also vote on a proposal to create a new class of 25 mln shares of serial preferred stock one dlr par value in place of its existing classes of authorized and unissued preferred stock
i would like to shoot for one mln barrels a year the proposals were based on a doe study released yesterday warning the united states was threatened by a growing dependence on oil imports
shr 86 cts vs 73 cts net 527 mln vs 457 mln revs 9899 mln vs 8639 mln six mths shr 197 dlrs vs 128 dlrs net 122 mln vs 799 mln revs 2078 billion vs 1726 billion
consolidated natural cng forms trading unit
they expect hang seng to pay a final dividend of 137 dlrs for a total of 175 dlrs for the year against 160 in 1985
fusco formerly was executive vice president of painewebber inc
kennametal inc kmt 1st qtr sept 30 net
operations in continental europe made 78 mln stg in trading profit up from 34 mln with 40 mln stg made in australasia up from 23 mln and 113 mln stg from the rest of the world against 131 mln in the previous year
economists said it appeared the government had already stepped up borrowing this year to accomodate revenue loss from other sources including tax losses resulting from weaker than expected economic growth and higher than expected spending
canadian money supply m 1 falls 555 mln dlrs in week bank of canada said
european coffee trade proposes new quota formula
norstar bancorp said it has agreed in principle to acquire united national bank of callicoon ny by exchanging three norstar common shares for each of the 201660 united shares outstanding
in addition sales comparisons were boosted by an especially soft february last year which was adversely affected by severe weather
he was also fined 5000 dlrs
but he agreed to setting up the dispute panel
glickman said the change would make the program 30 pct less expensive to operate
africa profit falls in quarter
overall analysts said first half sales are coming in according to expectations
the officials said that when the plaza agreement took place the dollar was already on its way down
earlier am reported a fourth quarter operating loss of two cts a share compared to profits of seven cts a share a year ago
pacific southwest airlines said it reached an agreement with the southwest crew controllers association needed to satisfy conditions of usair groups u proposed acquisition of psa
group has 51 pct of unicorp american uac 
exports to the us rose 23 pct to 640 mln dlrs and imports fell 267 pct to 840 mln
he said the ibc agreed with a request by producers for the institute to ask the government for a monthly indexation of the guarantee minimum price
first boston corp fbc was up one to 51 1 4
the week was the second half of a two week statement period
the posted price increase follows a similar move by several other oil companies
tylan corp aid it has retained the investment banking firm kahn and harris to sell its furnace product line
snc group inc expects 1987 earnings to rise to 120 140 dlrs a share from 91 cts a share last year with revenues climbing to about 430 mln dlrs from last years 350 mln dlrs president alex taylor said before the annual meeting
modulaire industries said it acquired the design library and manufacturing rights of privately owned boise homes for an undisclosed amount of cash
bankers said it is hard to avoid the impression that a growing proportion of transactions in the saudi riyal market by far the largest in the region is being carried out in london
arbed said the early months of 1987 had seen the market deteriorate further but the decision of the european community to maintain anti crisis measures at least provisionally should under normal circumstances have a beneficial effect
alza aza plans debenture offering
the new reference price would then be taken over for the new agreement
the acquisition expected to be treated as a pooling of interests is expected to be completed in the third quarter of 1987 subject to approval by regulatory agencies and first state shareholders
banks to mull philippine debt proposal
industry sources said the easiest plant to dispose of would be fos sur mer because it is a single refinery while the port jerome refinery is attached to a wider complex comprising a petrochemical plant and a lubricant production plant
total trade with the soviet union involving swaps of agricultural produce and textiles for soviet arms and crude oil is estimated at 304 billion dlrs in fiscal 1986 87 against three billion in 1985 86
corn export inspection guesses ranged from 400 to 440 mln bushels for the week ended april 9 compared up 466 mln inspected a week earlier and 152 mln in the year ago week
outokumpu to close nickel refinery during summer
the world bank is launching a 300 mln markka seven year straight issue due march 11 1994 with a coupon of 10 pct payable semi annually and an issue price of 101 1 8 lead manager postipankki said
feb 28 end shr 18 cts vs 13 cts net 1541000 vs 1122000 sales 367 mln vs 335 mln avg shrs 8517000 vs 8441000 note share adjusted for five pct stock dividend in august 1986
prior year net both periods includes pretax gain 1095000 dlrs on pension plan termination
the stock today hit 36 1 4 up one
in recent days traders have suggested holmes a court was buying additional shares
mathematical applications said the tentative agreement calls for pagex to buy substantially all of the assets and liabilities related to the direct marketing business and continue to use the mathematical applications name
asked if he thought allied lyons is vulnerable to other take over attempts holden brown replied no i dont we must never be complacent and we must always be very watchful but i think we would be very expensive he said
grossmans inc gros 4th qtr loss
in malaysia trade officers and businessmen said tough curbs against japan might allow hard hit producers of semiconductors in third countries to expand their sales to the us in hong kong where newspapers have alleged japan has been selling below cost semiconductors some electronics manufacturers share that view
world group pre tax profit 263 billion marks vs 304 billion
japan march interim trade surplus falls
bhp which confined comment to the third quarter said petroleum net earnings dropped to 988 mln dlrs from 1396 mln a year earlier and steel profit to 270 mln from 488 mln
the usda said it had accepted 10572402 more acres into the conservation program out of bids on a total of 11254837 acres
aerospatiale gave no details of the amount of paper to be issued but said the offering had been rated a1 by standard and poors and p1 by moodys reserved for the best investment risks
the adoption of such measures would not fail to have a negative effect on the process of multilateral negotiations just started as well as on bilateral relations it said
the issue is callable in the first three years only if the stock prices rises abouve 130 pct of the conversion level
de croo also said he thought the community would postpone its april 28 deadline for imposing new slaughterhouse rules to cover all meats brought into ec nations if some progress was made toward resolving differences with the united states
imports in the first two months of the year excluding oil and wheat totalled 18 billion dlrs against 147 billion in the same 1986 period
spendthrift farm inc said it has received three tentative proposals to acquyire control of the company
erc international inc erc 3rd qtr net
breakdown was as follows cotton 9000 27900 sunflower 954303 840440 linseed 119954 138944 groundnutseed 26248 26246 soybean 669094 524715 tung 9047 11363 olive 2417 4125 maize 6058 3989 rape nil nil grape nil nil the board added
dealers said the market in all texaco deals will almost certainly remain on an indicated or negotiated basis until the events of the weekend are further clarified
season for soybean cake and meal begins oct 1
under the agreement the cts board will immediately be reduced to seven from eight with four current directors and three representatives of dca being elected to the board it said
the accord stipulated that current rates reflect fundamentals of the six nations britain canada france japan the us and west germany
general acquisition also said it believes that gencorps board has an obligation to present any alternative transaction it may propose to shareholders in a manner that would allow for competing offers
the volume of the issue is expected to be one billion marks
us commercial paper falls 375 mln dlrs in feb 18 week fed says
nz february current account deficit 78 mln v 93 mln jan govt
sight deposits are an important measure of swiss money market liquidity
payment is due april 15 1987
morgan stanley issues warrants into japanese firm
shr four cts vs one ct net 335000 vs 67000 rev 101 mln vs 87 mln avg shares 7933000 vs 8553000 six months shr seven cts vs two cts net 570000 vs 133000 rev 199 mln vs 168 mln avg shares 7952000 vs 8551000 note qtr includes extraordinary gain of 125000 dlrs or one ct a share while six months net includes gain of 150000 or two cts a share
the central bank stepped into the market when the dollar fell towards 14900 yen but a trust bank aggressively sold dollars to hedge currency risks and the bank intervened again at 14900 they said
he appeared to contradict statements by balladur ruling out economic stimulation despite the governments revision of its 1987 growth forecast to about 20 pct from 28 finance ministry officials later clarified baudouins remarks saying there was no question of any move to stimulate the economy through a boost to consumer spending although government policy allowed for increased industrial investment from the proceeds of frances five year privatisation plan
glynwed shares were up 5p to 494 after the announcement
the ministers said they were very disturbed by the us moves adding the adoption of such measures would not fail to have a negative effect on the process of multilateral negotiations just started as well as on bilateral relations any unilateral us moves would leave the ec no option but to react according to the laws of the world trade body the general agreement on tariffs and trade gatt they said
for the time being however the march employment report increases the likelihood they wont tighten regardless of the dollar
representatives from petromin have visited ronnskar already we see saudi arabia as the expansion area of the future he said
het comite has obtained a temporary agreement that companies can pay the amount they receive toward the levy rather than paying a full guilder amount to the dutch grain commodity board
bundesbank adds money market liquidity
such an approach would finance the trade deficit but allow for its gradual resolution over time
industry sources told reports that the companies tea import licences had been suspended were incorrect
south africas electricity supply commission escom which last year launched a massive restructuring programme after the ending of foreign loans to the country in 1985 said it met its budget targets in 1986 without foreign finance
burlingtons stock rose sharply this morning on the report which said dominion textile had joined with us investor asher edelman to buy a stake in the company and to consider making a takeover offer
moodys pointed out that the company has minimal levels of variable rate debt
tesco plc tscol is issuing a 100 mln stg convertible eurobond due february 20 2002 paying an indicated coupon of four to 4 1 4 pct and priced at par lead manager credit suisse first boston ltd said
dealers said that at this stage it seemed unlikely that the issue announced today would be absorbed by the market as rapidly as last weeks
enlarging on reforms washington would like to see baker said he wanted the iadb to play a much greater role in the us debt strategy for promoting inflation free economic growth open markets and a reduced government role in the economies of debtor nations
the new rules will first apply to premiums payable for the lloyds account which closes on december 31 this year lawson said
a twister in lubbock yesterday damaged six mobile homes and two houses
bundesbank buys dollars for yen frankfurt dealers
canadas airline profits seen higher
the ec commission cereals management committee rejected all bids for licences to export free market spanish barley to non ec countries trade sources said
money market mutual funds fall 119 billion dlrs in latest week ici says
1985 net income includes extraordinary gain of 32 mln dlrs or 25 cts
thrifty rent a car system inc tftyo 4th qtr
the countrys total foreign debt is 816 billion dlrs the eighth largest in latin america
turning to exchange rates the official said the substantial drop in the dollar is beginning to have an effect on reducing the imbalance in world trade even though the impact has taken longer than expected to show through
feb 28 end shr nil vs nil net 132804 vs 53510 revs 2001107 vs 1467742 avg shrs 739 mln vs 567 mln nine mths shr nil vs nil net 302316 vs 171034 revs 5230014 vs 4112562 avg shrs 744 mln vs 567 mln
wilshire oil co of texas which has a 98 pct stake in jacobs engineering group inc said its chairman siggi wilzig was appointed to the jabobs board
oper shr 28 cts vs 33 cts oper net 1647000 vs 1910000 revs 197 mln vs 175 mln nine mths oper shr 82 cts vs 84 cts oper net 4787000 vs 8748000 revs 559 mln vs 530 mln note prior year net excludes tax credits of 29000 dlrs in quarter and 1761000 dlrs in nine mths
uk clearing bank lending rises 16 billion stg
the preferred stock is redeemable starting at 52875 dlrs per share on march 15 1987 and declining on each march 15 to 50 dlrs on and after march 15 1997
the category referred to as other covering bank and credit union loans increased by 74 mln dlrs in february after rising by 255 mln dlrs in january the fed said
a proposal to require imported tropical oils to be labeled as saturated fats suffered a narrow and possibly debilitating defeat in the us senate
moreover some question whether concerted intervention can make much of an inpact if the overall market does not agree with the fundamental judgement
australian treasury note tender 200 mln dlrs
chubb said the transaction was valued at 911 dlrs a share based on the closing price of its stock on march 30
in his letter the contents of which were released today tamura said a miti survey carried out at the beginning of march showed japanese producers were not selling at cut rate prices in asian markets
jc bradford and legg mason co managed the deal
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
it said the price increases on plate and h pile products will apply to all shipments from uss plants
it certainly contributed to the general feeling of malaise one citicorp banker said in describing the impact of the mexican package on the banks decision to add three billion dlrs to its reserve for possible loan losses
arango said that government measures adopted here last week including a lower export registration price indicated a major change but also disclosed a welcome pragmatism
manufacturing output rose 05 pct in february after a 01 pct increase in january and included gains of 08 pct in durables and 01 pct in non durables the fed said
the loan is now 99 pct subscribed
denominations will be 500000 and one mln dlrs
the bundesbank did not intervene as the dollar was fixed lower at 18218 marks after 18243 yesterday dealers said
the company said the feasibility study calls for gold production averaging 41000 ounces a year for the life of the mine and 50000 ounces a year over the first three years with 99000 ounces of silver per year being produced over the miune life
cbc bancorp to be acquired by union planters
given the scope of these subsidies it should be possible despite major political difficulties to finance the tax reform by cutting state handouts
south korea unveiled the plan in november
kuwaiti dinar rates firm aid window open
since the tenders started last july 861000 tonnes of british feed wheat have been sold back to the home market
the banks action followed its purchase of short dated government stock and six day repurchase agreements earlier in the session
shr two cts vs one ct net 83000 vs 32000 revs 112 mln vs 7625000
el paso electric co said it has agreed to limit rate increases in its new mexico service territory to a maximum of nine pct over the next three years
london eurodollar bonds close lower
a group led by new york investor asher edelman said he lowered its stake in lucky stores inc lks to 1827734 shares or 48 pct of the total outstanding common stock from 1930734 shares or 51 pct
renouf pointed out this exceeds the minimum number sought in the offer but its statement gave no reason for the extention
i dont think we should change our economic outlook at the moment sumita said
bankamerica corp following moves by other major banks said it has raised its prime rate to 775 pct from 750 pct effective today
it said demand for the companys products are continuing at high levels and sales are expected to show further growth
shr 21 cts vs 20 cts fin div 80 cts gross vs 90 cts group net 1048 mln dlrs vs 1009 mln note fin div pay june 6 record may 19
bankers noted that the terms on the new facility compare extremely favourably to those on other short term facilities for which pricing has turned extremely fine due to competition for the mandates
in the parent company the positive earnings development continued it said where pre tax profit rose by 32 pct to 197 billion marks
santa fe sfx aware of henley heng stake
canadas current account deficit is projected to shrink to around four billion us dlrs this year and to remain at about that level in 1988
year on year retail sales rose 53 pct compared with a 96 pct increase in the year earlier period
s and p upgraded anr finances euronotes to bb minus from b plus anr pipeline cos first mortgage bonds to bb plus from bb debentures and eurobonds to bb minus from b plus and preferred to bb from b plus
arkansas best corp abz 3rd qtr net
phelps dodge is the nations largest copper company with annual production expected to reach 500000 tons this year
nynexs new york telephone files 500 mln dlr debt securities shelf registration
a group led by new york investor asher edelman said morse shoe inc agreed to provide it confidential company information and that his group would make an offer to buy morse only in a friendly negotiated deal
lilly issued 171 mln warrants with an expiration of march 31 1991
baker sees brazil banks reaching agreement
m 1 money supply fell 87 pct to 77678 billion won in march against a revised rise of 43 pct in february
us and german companies are the leading contenders to take control of cgct
philippines ongpin optimistic on debt talks
a spokesman for c
eastman kodak co said it filed a shelf registration with the securities and exchange commission for debt securities totaling 900 mln dlrs
all legitimate debt is a commitment of honour the president said during a visit to the quake zone
the paper said japanese agriculture has been slow to improve productivity and demand supply imbalances
patrick petroleum co ppc 4th qtr net
at todays cabinet meeting nakasone told trade and industry minister hajime tamura to redouble his efforts to calm us anger over what it sees as japans unfair trade practices in semiconductors
qtly dividend 22 cts vs 22 cts pay april 30 record april 10
a year ago the rate was 28 pct
the loan will also support development of technical capabilities for energy audit work and strengthen the financial and institutional capability of lbl the bank said
sens
at midday today hughes said it was still interested in the merger
mesa airlines inc initial offering underway
american pacesetter aec 4th qtr net
reed told that gencorp chairman a
lead prices rise on finely balanced physicals
the bank of england said it had invited an early round of bill offers from the discount houses
we expect to maintain an adequate level of liquidity through 1987 it said
the prime minister declined to answer reporters questions about an announcement last night that greece had asked the united states to suspend operations at one of the american military bases here due to the crisis
the missouri with its four escort flotilla is likely to make iran think twice about using the missiles diplomats said
the march 23 sale to be evenly divided between the three and six month issues will result in a paydown of 2875 billion dlrs as maturing bills total 1568 billion dlrs
in other action waste management directors approved an increase in the quarterly dividend to 18 cts from 14 cts payable april three record march 18
top scale wages would increase to 855 dlrs per week in the first year of the two year contract and 895 dlrs in the second year under the nbc proposal
indonesian coffee production may fall this year
soviet first deputy prime minister vsevolod murakhovsky said at the end of a brief visit here his country wanted to boost joint business with france but that a reduction of frances trade deficit with the soviet union depended on the french
smithkline begins the year with a new management team including its new chief operating officer george ebright
under the deal pdvsa will supply up to 140000 barrels a day to the refinery with the option to place 50000 bpd more mostly gasoline and distillates through champlins distribution system in 10 us states
moodys investors service inc said it downgraded texas air corps 410 mln dlrs of debt and affirmed the unit eastern air lines incs 7034 mln dlrs of debt
hudsons bay to sell wholesale unit
the bankers noted that although rolls royces debt will be negligible after privatisation it wants to have a range of financing arrangements available to allow it to take advantage of market opportunities when they become available
singapore to spend 12 billion dlrs on ports
its working out very well and i think well get clear majority nogales said
the issue is available in denominations of 20 and five mln yen and will be listed in luxembourg
the investor group bought 50 pct of the common equity and supplied five mln dlrs in mezzanine financing
there is no call for three years subsequently at par plus the coupon declining by equal amounts per annum until 1997
shr loss 60 cts vs loss 650 dlrs net loss 2012000 vs loss 219 mln revs 86 mln vs 135 mln year shr loss 104 dlrs vs loss 596 dlrs net loss 35 mln vs loss 202 mln revs 366 mln vs 521 mln
sunflower sowings were expected to increase by between 86 pct and 146 pct from 829000 ha
essex communications corp essxa year loss
canadian money supply falls in week
the us agriculture department has forecast soviet maize imports for the 1986 87 campaign at 490 mln tonnes against 1040 mln in 1985 86
ussr cotton in mln 480 lbs bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 276 276 262 262 production 1120 1120 1210 1210 imports 100 100 065 065 domestic use 970 970 960 960 exports 280 280 300 300 end stocks 246 246 276 276 japan cotton in mln 480 lbs bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 052 052 061 061 production nil nil nil nil imports 310 310 305 305 domestic use 310 310 315 315 exports nil nil nil nil end stocks 052 052 052 052
pay n pak gave no details about the buyout group but did say the offer was contingent on financing and on an agrreement regarding managements equity participation
stewart and stevenson ssss 4th qtr net
diagnostic drs makes a bid for rospatch rpch 
in a filing with the securities and exchange commission dixons said it has determined to explore the possibility of the sale following its preliminary review of the business and activities of cyclops
bhp said it should not be expected that the present rate of dividend will be maintained on the increased capital
the company said the transaction involved assets valued at more than 83 mln dlrs
the banks assessment of the appropriateness of a banks lead underwriting activity will depend primarily upon the skill and experience of the lead underwriter in the particular market concerned the banks proposal said
under its merger agreement hutton has the right to unilaterally terminate the merger agreement under certain circumstances including its receipt of less than 66 2 3 pct of purolator shares or the start of a higher competing tender offer such as emerys competing 40 dlr per share offer for purolator stock
usda offers eep barley malt to colombia
the agriculture ministry expects a record maize crop of 277 mln tonnes a 36 pct increase on last years crop of 203 mln tonnes
many people are worried about inflation again said mats joensson of goldman sachs
it has provoked strong protests from domestic producers as well as foreign exporters led by the united states
dharyono said production was behind a five year plan target of 420000 tonnes for the current year but indonesia is trying to boost output through introduction of higher yielding seeds better training for farmers and increased use of fertilizers
carolin mines has new gold assay results
the drilling diving and supply vessels sectors had been most affected buchanan snith told the house of commons energy committee
reports of the us japanese intervention operation and talk of an upcoming meeting of the major industrial countries encouraged expectations for broader cooperation on exchange rate and economic policy matters the fed said
lloyds bank canada 1st qtr profit rises sharply
the pentagon will ask the national security council in the white house to prohibit the sales
shr 2789p vs 2424p div 90p vs 775p making 1375p vs 120p turnover 126 billion stg vs 119 billion pretax profit 546 mln vs 465 mln tax 165 mln vs 135 mln interest paid 22 mln vs 24 mln minority interests 23 mln debit vs same extraordinary items 423 mln profit vs 54 mln loss pretax profit includes agribusiness 283 mln vs 225 mln health products 65 mln vs 54 mln wholesale food distribution 83 mln vs 73 mln retail food distribution 42 mln vs 59 mln uk 287 mln vs 272 mln us 211 mln vs 161 mln
republicbank rpt to reclassify brazil loans
business leaders said before the meeting they would be pressing for less government interference in what they describe as a tightly regulated economy
japan is doing all it can to solve its trade problems with the united states but the two nations will remain at odds as long as the trade account is lopsided in japans favour a senior official said
shr loss 28 cts vs loss 80 cts net loss 2150000 vs loss 3722000 sales 1478000 vs loss 2097000
ultimately the brazilians are going to have to pay up on all the interest they owe cohn said
siew said the taiwan dollar had risen by about 15 pct against the us dollar since september 1985
the size of the package thus comes to about 76 billion dlrs the largest ever assembled in the international credit markets citibank said
british gas repays 750 mln stg debt
ge will be able to record revenue as a sale at the time of delivery heymann noted
members told him de zeeuw that we lowered our us loan rates and cant eliminate subsidies unilaterally one source said
one even showed interest in buying 45 mln dlrs worth of notes he said
nspa also said us soybean meal exports in the week were 117866 tonnes vs 121168 tonnes a week ago and compared with 84250 tonnes in the year ago week
dollar ends lower in lacklustre frankfurt
bats 1986 figure of 139 billion stg compared with a 1985 pretax profit of 117 billion
ortner who stressed he was expressing personal views said he thought the us dollar was fairly priced against most european currencies and added i do not regard the dollar as undervalued at this point against the yen he said
earlier today mts said it held talks with pratt hotel corp prat and southmark corp sm on forming a venture to acquire caesars
testifying before the senate banking committee volcker said that europe and japan were slowing exports and that growth in those countries was also decreasing
thrift industry analysts said the move approved by the federal reserve board today is a plus for citicorp and shows its serious intent to penetrate the california market
the banker said such buying has not been going on
mclean industries mii unit transers service
this will not be a very exciting budget commented harry schwarz spokesman on finance for the liberal progressive federal party
borg warner ex chairman jf bere who serves on the hughes board is believed to favor the merger with baker
analysts said they foresaw uk base rates falling as early as today by as much as one full percentage point after lawsons announcement yesterday that the public sector borrowing requirement in fiscal 1987 88 and 1988 89 was to fall to 10 pct of gdp or some four billion stg
uk intervention bd says ec sold 60500 tonnes white sugar at rebate 43147 ecus
it was estimated that if oil fell to five dlrs a barrel it could trigger defaults that could cost the government an estimated 15 billion dlrs
vaalian balance of payments in deficit in may
the following rainfall was recorded in the areas over past 72 hours parana state umuarama nil paranavai 15 millimetres londrina nil maringa nil
uk money market given 215 mln stg late help
boschwitz told the senate agriculture committee that applying the so called 0 92 provision to 1987 crops was supported by the reagan administration and would save approximately 500 mln dlrs including 266 mln dlrs in corn payments 90 mln dlrs in wheat and 30 mln dlrs in cotton
the 1986 effective loan rate is 456 dlrs because of the 43 pct gramm rudman budget cut
one dollar straight dealer at a us securities house commented there was in fact the odd retail buyer today but only in small sizes he added that ironically the prime rate rises may help the market to stabilise since the dollar rose on the back of the news
a government spokesman said in a statement that if ankara believed greece was contravening international law it could bring the issue before the courts
under the exchange offer which was proposed yesterday to cenergys officers and directors each share of cenergy common stock could be exchanged for 850 dlrs in market value of snyders limited partnership units snyder said
the ufcwu will consider all options available to it including a strike or returning to work under ibps last labor contract proposal a spokeswoman for local 222 said by phone
prior year net both periods includes 7580000 dlr pretax charge for store closings
shr 174 dlrs vs 189 dlrs net 353 mln vs 382 mln assets 245 billion vs 218 billion deposits 169 billion vs 161 billion loans 189 billion vs 160 billion note qtr includes pre tax provision of 97 mln dlrs resulting in 57 mln dlrs after tax loss for reserve against interest due on medium and long term brazilian loans
it had help in that effort from jefferies group inc a los angeles investment banking firm which sold it an option on a portion of the shares sugarman eventually acquired
bookings recovered in the latter part of the third quarter the company said
presidential spokesman marlin fitzwater said us trade sanctions against japan were likely take effect on april 17 in spite of a full court press by japanese officials to avoid them
cable and wireless plc cawll said new proposals unveiled by japan for it to become a core member of a merged telecommunications firm to compete for telecommunications contracts did not remove the groups objections
soviet sugar consumption up as home brewing grows
once the negotiators reach agreement the bill will be sent to president reagan for his signature
in addition it said koba electronics co ltd an affiliate of nippon will buy four mln unissued shares or a 12 pct stake of lifetime for 20 mln dlrs or five dlrs a share
however he says that any major change in a basic commodity such as occurred in oil during the 1970s because of action by the opec cartel would have to be discounted in such a system
he was speaking at a news conference following a two day annual meeting of aid donors grouped in the inter governmental group on indonesia iggi in which 315 billion dlrs in fresh funds were pledged for the coming year
intl rectifier irf debt downgraded by s p
nerco said it estimates the fields total proved developed and undeveloped reserves at 24 billion cubic feet or equivalent of natural gas which more than doubles the companys previous reserves
1986 net includes costs of 900000 dlrs in quarter and 1200000 dlrs in year from proposed merger
williams was 15p higher at 765
this follows sales of two other purolator units
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
we are willing even eager to make a fair market value offer in cash for the southern pacific said kansas city southern president and chief executive officer landon h
the directors of the american farm bureau the nations largest farm organization voted tuesday to urge congress to leave the 1985 farm bill in place without alterations
throughput at the refinery is currently estimated at 140 150000 bpd although total capacity is nearer 200000 bpd
in a newspaper advertisement the company said the offer which is not conditioned on receipt of any minimum number of shares and associated withdrawal rights will expire april 28 unless extended
the feds absence may be explained by the lack of any pressing need for it to supply reserves and by a desire to boost borrowings in the second week of the statement period to meet its borrowings target said liro of warburg
a and p is 524 pct owned by tengelmann warenhandelsgesellschaft of west germany
the federation of oils seeds and fats associations fosfa in london said it had previously advised traders to adopt the metric system for coconut oil transactions to bring the commodity into line with other vegetable oils
the next regularly scheduled meeting of american motors board will be april 29 although it is expected that directors will meet again prior to that date according to the statement
januarys rise in 1981 prices was fueled largely by a 05 pct gain in the goods producing sector
for the year ended january 31 1986 the company had a net loss of 51000 dlrs or 24 cts a share on revenues of 28 mln dlrs
super rite foods inc srfio 1st qtr may 30
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
the spokesman talking by telephone from rio de janeiro said 126 ships were strike bound
full name of company is marcom telecommunications inc
turkey has announced a tender to import 100000 tonnes of white crystal sugar with an advertisement in local newspapers
the company said it will be continuing its talks with siemens and based on current circumstances believes the transaction could close next week
she said she expected the yield on the actively traded 11 3 4 pct gilt due march 2007 to dip below 95 pct against 9581 pct at yesterdays close in london
honeywell bull president jerome meyer also told the press conference the company was profitable adding the company aimed to improve profits over time
rexham rxh gets takeover offer
investment group has moore handley mhco stake
a lot of the big deals there have already been done but medium size and small concerns are potential targets of japanese companies the specialists said
terms were not disclosed
a group led by miwok capital corp a california broker with a 106 pct stake and another one led by minneapolis stockbroker jeffrey wendel with 26 pct have both made recent sec filings saying they are seeking agreements with other parties who may want to seek control of the company
northern has annual revenues of about 60 mln dlrs and is based in seattle
the round which covers 13 areas of trade in agriculture manufactured goods and services will take four years to negotiate
it said as a result of the settlement ctss special board committee has stopped soliciting orders to purchase some or all of cts
it said the lifting of the restrictions reinforces the international status of the lira and meets the requirements expressed several times by foreign exchange dealers
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
hungarys net hard currency debt soared to 779 billion dlrs last year from 501 billion in 1985 partly because of a current account deficit of 142 billion dlrs and partly because the fall in the dollar increased the dollar value of debt denominated in marks or yen
lewis of phillips and drew said he too believed the national savings issue suspension may reflect new uk treasury policy to point building societies towards a mortgage rate cut
china called on the united states to remove curbs on its exports to give it favourable trading status and ease restrictions on exports of high technology
conagra fell one to 33 on the new york stock exchange
walker added that britoil would feel confident if the price stayed within a band of 15 dlrs to 20 dlrs a barrel
japan imports about 50 pct of its lpg from saudi arabia
the shaws board and the davis family has agreed to accept the offer thus assuring sainsburys a total holding of 740 pct
shr 105 dlrs vs 51 cts net 8500000 vs 4100000 revs 1832 mln vs 1366 mln
thailands foreign reserves of gold special drawing rights and convertible currencies fell to 386 billion dlrs at end february from 395 billion the previous month but were above the 308 billion held at the same time last year the bank of thailand said
pciac is a canadian government corporation providing assistance to countries like jordan to reduce their dependence on oil imports towe said
security spc users end merger talks
mark resources inc year loss
wheat sales of 119300 tonnes for the current season and net reductions of 13700 tonnes for the 1987 88 season were four fifths below the combined total for the prior week and the four week average it said
shareholders in the new firm are fitch investors service inc a us based rating agency and compagnie belge dassurance credit sa a credit insurance firm which is a subsidiary of societe generale de belgique
garo armen an analyst with dean witter reynolds said chemical makers have also benefitted by increasing demand for plastics as prices become more competitive with aluminum wood and steel products
shr 10 cts vs 10 cts prior qtr pay june one record april 24
according to the exchange offer each 1000 dlrs principle of subordinated debentures will be exchanged for 1000 shares of common stock 500 dlrs principal of a variable interest subordinated debenture and 24 shares of convertible preferred stock the company said
can we afford to import 60 or 70 pct of our oil requirements 15 or so years from now asked john swearingen chairman of the board of continental illinois corp cil and former chief executive of amoco corp an if your answer to that question raises doubt then it behooves us to do all that we can now to cope with this situation and improve our position but swearingen said he opposed the idea of an import fee a view echoed by others attending this weeks national petroleum refiners association meeting in san antonio texas
rubibira said the government is planning to build new silos in the main maize producing areas of iringa mbeya ruvuma and rukwa
at the moment the commission is proposing the rate of levy remain unchanged at three pct but pye addressing a feed manufacturers dinner in glasgow said this could change if its controversial plans to cut cereal prices and introduce an oils and fats tax are blocked pye said ukasta would continue to fight the cereals levy tooth and nail however a test case in the european court of justice contesting the legality of the current regulation applying the levy which is being backed by the ec feed manufacturers organisation fefac was not now expected to be heard until the end of 1987 he said
he declined to officially confirm or deny that the petroleum council had recommended deregulatory measures but said that in principal miti would encourage a move towards deregulation
petro canada crude up 32 cts canadian bbl
the aspen institute for humanistic studies a private group also called for new research for oil exploration and development techniques
the agreement is subject to the approval of the cotton exchange board which meets tuesday april 7
us tariffs are due to take effect on april 17
morgan stanley mortgage trust i a unit of morgan stanley group is offering 3178 mln dlrs of aaa rated collateralized mortgage obligations that include two floating rate tranches said sole manager morgan stanley
national distillers and chemical corp said its board approved a modernization and expansion program from its petrochemical division usi chemical co its polyethylene producer
independence bancorp inbc completes merger
dealers said the dollar had gathered renewed downward momentum and that bank of japan intervention alone could hardly contain a further slide in the currency
japans dowa mining to produce gold from april
duffour et igon shares were quoted yesterday at 4410 francs with no buyers after a series of suspensions during the takeover tussle
shr loss 15 cts vs loss five cts net loss 17334 vs loss 51507 sales 245560 vs 179839 six mths shr profit four cts vs loss 17 cts net profit 47749 vs loss 174373 sales 721937 vs 284809
on tuesday the ministry allowed long term bankers to cut their prime to a record low of 55 pct effective february 28
api said distillate stocks dropped four mln barrels for the week ended march 20
semi div 13 cts vs 18 cts prior pay march 13 record march two
the us agriculture department forecast the european communitys 1986 87 wheat crop at 7160 mln tonnes vs 7150 mln tonnes last month
brown group inc 4th qtr shr 77 cts vs 76 cts
normally investors do not make a major capital commitment into an illiquid situation he said of nippon
d and p lifts general public utilities gpu unit
however bankers said some banks have been window dressing their balance sheets to mask non performing loans which are variously estimated by bankers at between 20 to 50 pct of the industrys 9026 billion lira in total credits
shr one ct vs five cts net 42469 vs 226791 sales 7963620 vs 6886414 nine mths shr 12 cts vs 22 cts net 490927 vs 949650 sales 240 mln vs 187 mln
central and south west corp said it southwestern electric power co subsidiary will redeem all 300000 shares outstanding of its 816 pct preferred stock par value 100 dlrs per share on may one
new generation has annual sales volume of about 30 mln dlrs federal resources said
casino hotel operator and real estate developer donald trump said he has agreed to purchase the class b common stock of resorts international inc held by the family and estate of late resorts chairman james crosby for 135 dlrs per share
theyre the real winners from the agreement
indian and australian businessmen signed a memorandum of understanding to boost two way trade and joint industrial ventures in both countries spokesmen of the indo australia business council told reporters
research cottrell closed at 44 1 4 today unchanged from the previous close
proceeds will be used to refinance outstanding indebtedness coca cola enterprises said
aqazadeh said soviet refined products would be delivered at the caspian sea ports of anzali and nowshahr at neka near the caspian and at jolfa in north west iran
acceleration acle cuts stake in united coasts
sheldahl inc shel 2nd qtr feb 28 net
pending its deliberations harper and rows board has postponed indefinitely a special meeting of stockholders that had been scheduled for april 2 to discuss a proposal to recapitalize the companys stock in order to create two classes of shares with different votinmg rights
ual inc ual shelf offering of up to 200 mln dlrs of debentures due march 31 1997 and 2564102 shares of common stock
nwa inc 4th qtr shr profit 45 cts vs loss nine cts
new process co said it declared a quarterly dividend of 12 1 2 cts the regular dividend it pays during the first three quarters of the year
this should then flow back into the market as it is deposited with banks
the banking association said the possibility of using monetary policy to stimulate the economy should not be overestimated
business calmed down after a hectic start with european operators sidelined because of uncertainty about the short term direction of the dollar dealers said
south korea has increased its duty on crude oil imports to 429 dlrs a barrel from 329 dlrs effective today the energy ministry said
chris dunn economist at royal bank of canada said the remarks may signal a decisive move to insulate sterling from the fortunes of the dollar
enserch ens to redeem debentures
total net reserves including reserves held by commercial and major savings banks rose to 3826 billion crowns from 3011 billion in january compared with a revised 3599 billion in february last year
strenger said the industry would try to increase production in the us to make up for lost export possibilities out of west germany
the annual rise compares with a 03 pct fall in the third quarter compared with the 1985 third quarter and a 43 pct rise in the year earlier period the bureau figures show
frances fsgt issues 17 billion franc bond
us to end netherlands antilles tax treaty
rooter rooto rescinds united western pact
the three ubs credit suisse and swiss bank corp provided an initial 409 mln franc credit after argentina signed a contract with sulzer in 1980
but cumulative beef output for the first seven months of fiscal 1986 87 ending june 30 rose to 838416 tonnes from 746837 a year earlier following a rise in cattle slaughter to 384 mln head from 340 mln
the company said it retained first boston corp to assist it with the possible sale of the division assuming a fair price and reasonable terms can be obtained diamond crystal said sale of the unit was in the best long term interests of its shareholders
in february and march nigerias production shrank below its 1238 mln bpd opec quota
p and o deferred shares were last quoted at 629p down 1p since yesterday after the company reported 1986 pre tax profit of 1741 mln stg against 1256 mln for 1985
equity silver mines ltd said it agreed to sell 66 mln shares of a new class of par value voting stock to placer development ltd for 371 mln dlrs increasing placers stake in equity to 745 pct from 68 pct
africa ban
tight far east freight space hits sugar market
while such ideas have political appeal baker said they would mean a drying up of capital flowing to debtors
paloma petroleum ltd year net
one offer but no bid was posted for srw wheat on the call session at the st louis merchants exchange today
the tremor damaged an oil pipeline thus barring all crude exports for a projected five months
also borealis and faraway will issue treasury shares to each other and faraway will buy 575000 borealis shares from borealis president lorne spence
ny tankers april 9 tennaco took nicopolis part cargo 50000 tons dirty april 12 caribbean to us gulf worldscale 130 exxon took brazil glory 77000 tons dirty april 17 east coast mexico to us atlantic coast worldscale 75 champlin took tamba maru part cargo 57000 tons crude april 18 caribbean to us gulf worldscale 105 pecten took world cliff part cargo 74500 tons dirty april 14 sullom voe to us atlantic coast us gulf worldscale 70 for atlantic coast worldscale 675 for gulf crown petroleum took british skill gotco relet part cargo 100000 tons dirty april 18 west africa to us gulf worldscale 63 oroleum took marika p
london grain freight enquiries
dallas investor cuts stake in mcdermott mdr 
also under the plan payments to allis chalmers private lenders would be deferred
note usda says above totals may not match total in reserve numbers
it said bank president barber conable at a meeting with sri lankas finance minister ronnie de mel in washington also emphasised the need for structural adjustment and reform to the economy battered by five years of separatist disturbances
for six months the yield was 638 pct and the bids ranged from 598 pct to 610 pct with 48 pct of the bids accepted
as far as south africa is concerned it looks like very good news one source said
alternative crops may offer inferior returns which could then lead to lost export revenue and balance of payments problems
there is now a real push to our exports and a bit of a curb to our imports the official news agency mti said today hungary would devalue by eight pct and it expected the new rates to be announced later today
a house banking subcommittee approved legislation which would require the treasury secretary to begin negotiations on the establishment of an international debt adjustment facility
automatic designs and manufactures a line of machine vision systems for the packaging pharmaceutical electronics and consumer goods industries
lawson oil tax breaks to help new fields revenue
the tokai bank ltd london branch is doubling the size of a sterling certificate of deposit issuance facility established last year to 200 mln stg from the original 100 mln chemical bank international ltd said as arranger
gainsco inc gain 4th qtr net
mobil corp filed with the securities and exchange commission for a shelf offering of up to one billion dlrs of debt securities on terms to be determined at the time of the sale
the offer will bring dairy farms stake in kwik save to 25 pct from the present 35 pct or 525 mln shares
speaking at the opening of the 40th hanover industry fair bangemann said radical changes in foreign exchange parities had left their mark on exports and investments
under the arrangement milar to one in 1980 coffee importers would voluntarily present needed documents to the us government until congress approves the monitoring authority but if coffee arrives without valid certification it will still be allowed entry
us corporate finance novel gmac financing
the officials who asked not to be named said yesterday that baldrige has serious concerns about the sale of fairchild semiconductor corp
bankers are thus working hard to isolate brazil
but german banking sources said concern the bank had to take a hefty writedown for its unplaced fiat stock had weighed heavily on its share price
stockholders at the annual meeting approved a measure to change the companys name to ivaco industries inc
however the groups third party sales fell sharply to 72 billion marks from 94 billion the year before largely due to lower prices for energy products particularly oil and coal managing board chairman klaus giesel told a news conference
canadas progressive conservative government agreed to impose a 15 pct duty on its softwood lumber exports earlier this year to end a long and bitter bilateral trade dispute with the us axworthy urged the government to present canadas case to world trade authorities under the general agreement on tariffs and trade
but industry sources said they expected the company to show current losses of about five billion yen or more in 1986 87 compared with a 298 billion loss in 1985 86
house of fabrics hf quarterly dividend
last year the netherlands produced a record 12 mln tonnes of white sugar against a combined a and b quota of only 872000 tonnes
egypt said to cancel pl480 soft wheat tender
taco bell corp a unit of pepsico inc said it increased its stake in calny inc common stock to 1349884 shares or 279 pct of the total outstanding from a previous figure of approximately 1230107 shares or 254 pct
uk money market deficit further revised upward
under the terms of the accord the banks will receive a security interest of nearly all the companys assets excluding inventory
moodys cited cost increases at the utilitys nine mile nuclear unit 2 and an unfavorable rate decision by the new york public service commission
west german sugar stocks rose to 260 mln tonnes white value at the end of february from 250 mln at the same time a year earlier the sugar industry association wvz said
w germany bolivia sign two cooperation pacts
a final decision on development of the kittiwake and osprey north sea oil fields will be made in the next 12 to 18 months reid said
the company said it plans to open 12 locations in dallas by the end of 1987
a decision on how to renegotiate will be taken at the iso six monthly session in may
the payment date is april 30 and there will be a short first coupon period
a change in one mln tonnes in production would alter revenue by about 45 mln stg in 1987 88 and 50 mln stg in a full year it added
total beef consumption in japan is now 700000 to 800000 tonnes per year but seng said with the removal of quotas and a decrease in beef prices consumption could increase to 32 mln tonnes
viacom last week agreed to be acquired by national amusements for a combination of cash and stock with an estimated value of 53 dlrs a share or a total of about 34 billion dlrs
feds seger says foreign exchange markets showing signs of stability
campbell red lake mines ltd crk qtly div
oil executives see gradual rise in prices
the company said at the time of the acquisition its assets will include only lithium and ferrosilicon operations
ecuadors deputy energy minister fernando santos alvite said last wednesday his debt burdened country wanted opec to assign a lower official price for its crude and was to seek this at talks this month of opecs pricing committee
sen
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
under the agreement nippon will receive 13 mln cumulative preferred shares with a five pct dividend rate
suhud said much of the companys 320 billion yen debt had been caused by falling tin prices and the appreciation of the yen against the us dollar
the next move is either icahn starts a tender offer or piedmont and usair announce a deal speculated one arbitrager
gte gte sells debentures yielding 8737 pct
it said closing is subject to the approval of title assignments by the french government
borealis in gold exploration pact with faraway
japan is becoming dangerously isolated again as the us and europe feel they have been cheated by japanese promises to switch from export to domestic led growth officials and businessmen from around the world said
average discount rate at uk bill tender 95195 pct
gerard guillonneau of france speaking for consumers agreed that the 1979 agreement had worked relatively well
the pay date is april 29
the landowners will be paid in 10 year bonds redeemable in ten instalments the sources said the bulk of financing would cover development costs for the land program and help to bridge the gap between the 10 year spread of payments to landowners and a proposed 30 year loan repayment period for land buyers
to entice us investors to fill the gap that would be left if the japanese stopped buying us bonds interest rates would have to soar obrien said
and it is not just a german problem it is a european problem he said
opec believes world oil prices should be set around a fixed average price of 18 dlrs a barrel oapec assistant general secretary abdelaziz al wattari said
orange ojay in definitive pact to sell units
the indian finance ministrys announcement in parliament yesterday changing the nations interest rate structure will benefit industry and agriculture by providing loans at lower interest bankers and brokers said
south louisiana sweet was increased to 1935 dlrs a barrel
figures do not tally exactly because of rounding
government approval to participate in the icco was delayed by parliamentary debate over the sales tax issue the officials said
the individual value of reserve assets in australian dollars at end february with end january and year earlier respectively in brackets were
lloyds said the 200000 dwt vessel is carrying about 180000 tons of ore
on full conversion the issued ordinary share capital of the company would increase by some 64 pct
german securities may be counted in lending ratios
paice also said the 1986 87 australian wheat harvest has ended after a long cool summer with 1514 mln tonnes delivered to the awb
general instrument grl unit gets navy award
sigma said it changed its 1986 reserve reporting method following dome mines previously reported move to adopt general industry practice of reporting proven and probable ore reserves
the sharp rise in the september surplus came from a resumption of export deliveries delayed by strikes the previous month
yeutter told a congressional hearing it was possible china could be a member of gatt before the end of the year
the bank of england said it provided the market with a further 570 mln stg assistance during the morning after revising its estimate of the liquidity shortage to 185 billion stg before taking account of its early round of bill purchases
however hackmann said production could continue to exceed consumption
the french sales mark the beginning of commercial ec corn exports which could reach 750000 tonnes to north africa and the middle east areas which have traditionally purchased their corn needs from the united states the department said
oper shr 12 cts vs nine cts oper net 4027852 vs 3200837 revs 1002 mln vs 460 mln note oper net excludes tax credits of 517916 vs 198000 current year results include proceeds from termination of a pension plan
the central bank purchased bank bills outright comprising 41 mln stg in band one at 10 7 8 pct 361 mln stg in band two at 10 13 16 pct and 54 mln stg in band three at 10 3 4 pct
it said the debentures will continue to be converted into yankee preferred
corn and soybean basis values continued to drop on the illinois and midmississippi river due to the strong barge freight rates
rabobank launches 250 mln guilder bullet
deutsche bank ag dbkgf has seen a slow start to 1987 after posting record profits in 1986 management board joint spokesman f
other policies recommended include more realistic exhange rates and more producive capital investment programs
they said even if gaf raises its offer and does not succeed a higher bid from another company would give gaf millions of dollars in profits on its stock
non callable to maturity the issue is rated aa 2 by moodys investors service inc
all we know is that cacex has increased the dollar amount to translate fob price to ex dock new york price to 1050 dlrs from 770 dlrs goncalves said
standard trustco previously reported assets of 128 billion dlrs in 1986 up from 110 billion dlrs in 1985
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
in 1986 dow earned 741 mln dlrs an increase from 1985s 58 mln dlrs brought about by falling oil prices and resulting cheaper feedstock costs
the figures initially boosted the share price to 286p from 281p last night but they then eased back to 283p by 0830 gmt
pioneer savings bank inc psbno 2nd qtr net
oper shr profit 41 cts vs loss 113 dlrs oper net profit 3093000 vs loss 7000000 revs 359 mln vs 311 mln avg shrs 7508096 vs 6207723 note current year excludes gain of about 25 mln dlrs or 33 cts shr from benefit of tax loss carryforward and includes pretax gain of about 12 mln dlrs from sale of export quota rights
paribas to seek share bond issues
coastal a natural gas producer and pipeline company earned 716 mln dlrs on sales of 67 billion in 1986 about half the its 1985 profits due to slumping energy prices
baker defending the strategy said private commercial banks have rescheduled nearly 70 billion dlrs in debt since october 1985 at longer maturities and lower interest rates
they are now at 10 pct
aequitron medical inc aqtn 3rd qtr loss
the dollar was also supported by a major electrical consumer goods company which was a speculative dollar buyer at around 14525 yen they added
on a comparable store basis sales rose one tenth of one pct
emerys stock closed up 1 2 at 12 5 8
four months later the usda estimated that 967 mln acres had been planted as of june 1
the 13th annual top level meeting of the major industrial democracies will take place against a backdrop of rising congressional concern over reagans plan to protect gulf shipping and demands that the allies do more
the trade surplus rose to 814 billion dlrs in february from 477 billion a year earlier and 570 billion in january
the january and february figures are subject to revision
currency in active circulation rose to 503 billion dlrs in december from 485 billion in november and 474 billion a year earlier
one month is 2 1 4 pct two months 2 1 2 pct three and six months are both three pct nine months 3 1 4 pct and 12 months 3 3 4 pct
trans world airlines makes 52 dlr share cash merger proposal for usair
excludes fourth quarter and full year 1986 extraordinary gains of 29 cts and 71 cts per share respectively
ny traders say latin coffee producers to meet
soviet soymeal imports seen rising in 1987
the talks have been going on for more than three weeks
he told security analysts middle south was close to recommending resumption of the common stock dividend when the mississippi court ordered the rate rollback
however dome said its management and financial advisers would evaluate all proposals including transcanadas
the dot said the air line pilots association filed comments opposing the merger but raised no new facts or arguments under the merger terms announced nov
they got a 1 16 reduction
the texas senator said a series of excise taxes would be considered by congress including an extension of the telephone tax and new levies on liquor and cigarettes
florida national fnbf downgraded by moodys
campbell resources inc cch 2nd qtr dec 31 net
api reported the amount of refinery capacity utilized up three pct for the week ended march 20
this is a major undertaking and a process that would spread out over next year he said
he said however there is support for his offer
they the ec commission will be keeping a low profile one trader said
the meetings under the auspices of the international monetary fund and world bank come as interest rates are turning higher and the already weak dollar has sunk further upsetting bond and stock markets
weinberger says us forces attacked iranian oil platform
the eia said residual fuel stocks fell 22 mln barrels to 379 mln barrels and crude oil stocks in the strategic petroleum reserve spr were up 700000 barrels to 5165 mln
the italian firm said steuart petroleum operates primarily on the east coast of the us
the company said the significant financial improvements from applying the net proceeds of the offering principally to the reduction of debt along with its 1986 restructuring of oil and gas operations and the acquisition of midcon corp have positioned occidental to benefit from an improving oil and gas industry environment
one hundred and thirty five bids were successful
gencorp gy alternative plan due within a week
because of the acquisition of brooks drug in september 1986 and the companys change of fiscal year prior year results are not comparable compact video explained
qtr ended jan 31 shr 48 cts vs 38 cts net 1171000 vs 794000 revs 156 mln vs 140 mln year shr 85 cts vs eight cts net 1831000 vs 266000 revs 504 mln vs 465 mln
storage dimensions is the creator or speedstor software a utility program that integrates high capacity disk drives into pcs
triangle microwave trmw in talks on buyout
the analysts attribute product stockdraws to seasonal factors but they said crude direction is harder to call
the allocation was in line with market expectations the bundesbank would provide more than the 34 billion marks draining from this week as an earlier facility expires
bell group made a similar 75 mln dlr bond issue in december 1985
finance minister cleopa msuya said regular petrol would go up 52 pct with similar increases in the cost of premium and kerosene
in my view debt conversions or swaps into either equity or local debt claims provide a preferable route to debt relief for the debtor nations particularly if combined with measures to encourage new equity investment and the repatriation of flight capital he told the house subcommittee on international development institutions
the administration would not reveal a retaliation list unless the ec approved the proposal he said
foreign creditors may get permission to convert loan balances and short term claims into equity investments in south africa
under terms of the deal comsat paid holiday 25 mln dlrs in cash and assumed half of the ventures 50 mln dlrs of outstanding debt the companys said
a union spokesman in rio de janeiro said the seamen had accepted a 120 pct pay raise offer from the companies globo and flumar which have less than 200 employees each
traders said they believed the ecs executive commission was unlikely to get involved in the dispute preferring to leave the case to be resolved as an internal portuguese issue
finance minister edouard balladur said the revised figures would not push the government off its chosen mix of price deregulation budget cutting rigour and pay restraint
private sector capital operations showed a steeply higher deficit of 1607 billion francs after 569 billion in 1985
they said the fed is expected to execute anywhere from 15 20 billion dlrs of customer repos to offset seasonal pressures on bank reserves
some 300 mln will be offered for immediate sale and 100 mln will be retained for market regulation
us business loans fell 896 mln dlrs
the departnment said exports to the us may be benefiting from fluctuations in the mark and yen exchange rates
president reagan ordered the study last september citing a determination that the country never again become captive to a foreign oil cartel referring to the opec led oil shortages and sharp prices increases of the 1970s
uk money market shortage forecast revised down
the exploratory well spudded at a depth of 2140 metres yielded 2000 barrels of oil and 180000 cubic metres of gas per day he said
he said if the congress makes retaliatory action mandatory then the united states would be in violation of its international legal obligations and on a collision course with its major trading partners denman added that a president should have flexibility in enforcing trade laws saying in the last resort any administration must take its decision in light of the overall national interest otherwise he said the risk would be counter reaction by trading partners of the united states ie retaliation or enactment of mirror image legislation to be employed against imports from the united states denman also said congress could prompt retaliation if it reduced the threshhold of unfair trade by making it easier for firms to file unfair trade practice claims
the exchange said it contacted the company and asked if there were any corporate developments to explain the unusual activity
periods ended april 30 shr 83 cts vs 94 cts net 5583000 vs 8403000 revs 288 mln vs 294 mln avg shrs 6754000 vs 6802000
richard loewy analyst with prudential bache securities said there was not enough information to completely assess the conservation figures
japan wants governments to buy its t bills
the ems has been taking a battering over the last year as the falling dollar has sent funds surging into the dominant ems currency the west german mark forcing ministers to undertake two major realignments of parities within nine months
say industries inc said it expects a loss of about two mln dlrs in its third quarter ended february 28 from the proposed sale of its omnilab inc health care unit
general refractories grx to sell operations
export guesses for all wheat ranged from 160 to 200 mln bushels compared with 164 mln last week and 112 mln last year
ccc interest rate for april is six pct usda
in a filing with the securities and exchange commission bilzerian and bicoastal financial corp a tampa fla investment firm he controls said they bought 278000 shares of pay n pak common stock on march 26 and 27 at prices ranging from 1329 to 1704 dlrs a share
ec inflation starts to rise again in february
the uk longer leading cyclical indicator rose in february by 58 pct after januarys 19 pct rise figures from the central statistical office show
but industrial action by other port workers is likely to cause further disruption harbour workers union secretary ross wilson told 
pirelli uk int finance issues 50 mln stg eurobond
the consumers argue that buying cheaper lower quality non member cocoas particularly malaysian will most effectively support prices because that low quality cocoa is currently pressuring the market
traders expect us energy futures will open unchanged to slightly lower this morning with support near yesterdays lows
the securities are guaranteed by parent company schleswig holstein landesbank girozentrale and will be listed on the luxembourg stock exchange
the agreement which covers about 95 mln dlrs in short term debt had been scheduled to expire february 28
qtly div 17 cts vs 17 cts prior pay may five record april 20
it said it and rmj securities management will continue to own 20 pct of rmj holding for now but the agreement provides for the sale of that remaining interest to british and commonwealth over the next six years
but icahns financing ability for such a transaction remains in doubt in part because of twas heavy debt load
ec ministers consider cutbacks in steel support
the changes in the standards would include the following establishing equal tolerances for the number of live insects in shipments of food grains feed grains and oilseeds
nomura repackages danish issue as zero coupon bond
british petroleum co plc said based on a feasibility report from ridgeway mining co its joint venture ridgeway project in south carolina could start commercial gold production by mid 1988
loading and unloading of 14 ships stranded by the strike started this morning and will be completed as quickly as possible they said
megavest industries inc said it has agreed in principle to acquire unlisted computer trade development corp in exchange for 119 mln shares of its common stock
qtr ended jan 31 shr 92 cts vs 128 dlrs net 5415000 vs 7730000 revs 1142 mln vs 1129 mln avg shrs 5864000 vs 6030000 year shr 45 cts vs 140 dlrs net 2664000 vs 8536000 revs 3229 mln vs 3123 mln avg shrs 5885000 vs 6105000 note net includes lifo gains of 48000 dlrs vs 118000 dlrs for qtr and charges of 257000 dlrs vs 225000 dlrs for year
a report from new york yesterday quoted bankers as saying manila will pay 111 mln dlrs over 1987 1988 and 1989
today the government faced a fresh problem when most petrol station owners in sao paulo the countrys industrial heartland and in three other states closed down to press for higher fuel prices
tie communications inc said it has renewed agreements to sell its gte corp gte bell atlantic corp bel nynex corp nyn and us west inc usw for two years
the shares later eased back to 481p
hughes supply inc hug 4th qtr net
irna said he gave no explicit reply when asked if the attack would prompt iran to block the hormuz strait at the entrance to the gulf
todays agreement brings total loans by the fund to iraq since 1983 to 3906 mln dlrs
the shake up would strengthen the us position in future international talks
kistler said hughes would be willing to consider a compromise counter proposal but declined to be more specific
advertising agents saatchi and saatchi co plc sachy said it was buying cleveland consulting associates inc for an initial consideration of 20 mln dlrs
spokesman marlin fitzwater said the panel set up last october to examine us oil import needs would make its report soon probably within the next few weeks
however rather than leaving the expiration date in a range the board decided to set april 3 as the day it will distribute the preferred share purchase rights
the yield of the key 51 pct 89th bond dropped to a record low of 4080 pct today from the 4140 saturday finish and compared with 425 pct on three month certificates of deposit
the rate of unemployment fell to 66 pct its lowest level since march 1980 from 67 pct in february
the government does not set money supply targets arguing they are inappropriate to a small economy with major trading and monetary links with much larger trading countries
on january 19 1987 crime control which installs services and monitors electronic surveillance systems said it retained rothschild inc to arrange for the sale of the company
unilevers un chesebrough offers to sell bass
economists said the fed will inject temporary reserves indirectly to offset pressure on the federal funds rate associated with quarterly corporate tax payments to the treasury department
within the consuming countries there also is expected to be some pressure to reassess positions
merrill lynch needham and co and lazard freres served as financial advisors it said
intelligent systems mlp inp makes cash payout
fruehauf corp which went private in december through a leveraged buyout said the predecessor company had a 1986 loss of 609 mln dlrs compared to earnings of 705 mln dlrs in 1985
but he declined to comment on what he believed to be an appropriate level of the dollar in world markets
so long as the groups stake in dba is below five pct it is no longer required to report its further dealings in the companys common stock
the british petroleum co of australia ltd reported a 1615 mln dlr net loss for 1986 against a 7338 mln dlr profit in 1985 after sales fell to 227 billion dlrs from 294 billion
uncertainty abounds as to the firms future ownership management and direction the rating agency said
dealers predicted reasonable demand for both issues due mainly to a lack of fresh good name paper in the market
a joint sat apt statement added that buyers were committed to investing 240 mln francs in cgct research and production plants
revised estimated calculation of workers compensation earned premiums decreased 1986 earned premiums by 10 mln
michael seibel bank of america vice president and regional manager said the negotiations were proceeding well
this inflow of funds into the stock exchange occurring also in other countries may continue he said
next world trade negotiations must succeed nz
the question is therefore how large a rise he is ready to see before acting
were taking this sentence very seriously he said
woolworth holdings plc wlukl said it would make a 244 mln stg agreed bid for superdrug stores plc valuing the companys shares at about 696p each
bush industries bsh sees higher year results
the proposal which is tied to any us backing for a new financing for the bank is sure to run into rough going as the latin countries view it as a move by the reagan administration to control the agencys critical loans
british aerospace plc baell said it has increased its stake in systems designers plc to 221 pct or 2546 mln ordinary shares following the purchase of 1045 mln ordinary shares
the charge will be made against the allowance for possible loan losses and the writedown is of other real estate
but unadjusted the number of jobless rose to 699800 or 91 pct of the workforce from 671400 or 89 pct in january and 658500 or 87 pct a year earlier
while the court has not issued a final judgment selas said it indicated that milgard will be awarded about one mln dlrs in damages
kuwait rejects iranian spy boat charges
packaging systems paks to buy label firm
passenger car prices fell 34 pct and light truck prices dropped 13 pct
china chile to build copper tube plant in china
the consumer affairs and coinage subcommittee bill would limit credit card interest rates at eight percentage points above the yield on one year treasury securities
ramada inc said it filed a registration statement with the securities and exchange commission covering a proposed offering of 100 mln dlrs of 12 year subordinated notes through underwriter salomon brothers inc
the second provision was that non icco member cocoa could comprise a maximum 10 pct of the buffer stock while the third laid out a pricing system under which the buffer stock manager would pay differentials for different grades of cocoa to be set by a formula the delegates said
saudi oil reserves rise despite higher output
in return the united states waived its right to impose import duties on the japanese microchips
beet sugar output last year was 337 mln tonnes with an average yield of 800 tonnes per ha the highest in the ec apart from the netherlands but below 852 the previous year and a five year average 811
gross purchases of foreign stocks rose to 448 billion dlrs in february from 267 billion in january while gross sales were 296 billion against 256 billion
almost certainly we can look forward to slower growth in consumer borrowing if the equity shakeout continues he added
nakasone to visit washington in late april
construction will start late this year with completion set for mid 1989
it said proved reserves at december 31 totaled 48 mln barrels of oil and 88 mln cubic feet of natural gas
north west telecom nowt makes acquisition
nogales said bolivia was expecting some 400 mln dlrs in disbursements this year from lender countries and international agencies including the world bank and the inter american development bank although diplomatic and banking sources put the figure at closer to 300 mln dlrs
on monday us navy warships blasted the rostam platform and navy personnel stormed a second platform a few miles away
exploration and evaluation spending in 1986 fell to 1877 mln dlrs from 2635 mln while investment in property and plant rose to 37425 mln from 35394 mln a year earlier
he did not elaborate
he said 56 nations pledged to bring their standards under the new system with about half expected to join the system by january 1988
for purchases of more than 250000 dlrs the notes carried a price of 9920 to yield 7599 pct or 61 basis points over treasuries
he said there was no oil spill but the ship is lodged on rocks opposite the hope creek nuclear power plant in new jersey
the bank of italy took up the remaining 588025 billion lire of 12 month paper
the aggregate five year yield will amount to 4277 pct of the principal on maturity
sierra health services inc sie 4th qtr loss
the company which already owns the other 50 pct of cvn said it plans to change its name to cvn
oper shr 25 cts vs 121 dlrs oper net 1366000 vs 6287000 revs 2513 mln vs 1071 mln year oper shr 110 dlrs vs 106 dlrs oper net 5552000 vs 4982000 revs 8275 mln vs 4344 mln note oper net excludes results of kay jewelers inc a former subsidiary
stoltenbergs statement was a reaction to criticism of rises in west german interest rates voiced by us treasury secretary james baker over the weekend
a greater than anticipated need competitive prices and political motivations could be sparking soviet interest in us corn industry and government officials said
the world farm market suffers from surpluses because of rising production by exporting countries he added
astrocom corp acom 4th qtr net
funds will come from savings and fixed deposit accounts but just how much will depend on the bond yields loh told 
uslico corp usvc increases dividend
to that end we are prepared to negotiate all terms of an acquisition agreement dart said
a sharp fall in the dollar price of zinc and the depreciation of the us currency created unfavourable economic conditions for vieille montagne sa vmnbbr in 1986
the spokesman was responding to an enquiry about an item in the london standard newspaper which said goldman sachs is feared to be the victim of a new multi million pound city scandal the newspaper also said the firm goldman sachs is believed to be the paying agent for some 900 bonds issued in the name of oil giant exxon which were deposited at banks in brussels and have now been found to be forgeries the spokesman said that the bonds were delivered to the firm by a man working on behalf of a third party
it gave no more details
transact intl inc tact 3rd qtr jan 31 net
they said stocks could fall between 700000 and three mln barrels
provinsbanken increases euro cp program
oil rose during the week on reports that opec nations were maintaining production quotas and official prices and got an extra boost friday due to the suspension of oil exports from ecuador after an earthquake thursday
neither the trade nor current account figures are seasonally adjusted
leo w
foreign exchange reserves fell 3921 mln francs to 3355 billion
the world bank said it approved a 974 mln dlr loan for china to help boost fertilizer output in order to increase agricultural production
emery air freight corp said it plans to begin tomorrow a 40 dlr a share tender offer for 83 pct of the outstanding common stock of purolator courier corp
the effect of the eep amendments would be to extend the life of the program five years through fiscal 1990 rather than the current three years through fiscal 1988
a mannesmann ag mmwgf spokesman said the company has lodged an application with the federal cartel office for approval of a possible majority stake in car parts company fichtel und sachs ag he described the application as a precautionary move and said no agreement on buying a majority stake had yet been reached
for the five year period examined government expenditures under the adequate certificate case were 70 billion dlrs or 75 pct less than under the zero certificate case
this completes the major documentation required to gain official approval to proceed placer said in a statement
the cost of living was unchanged in march compared with february but stood 02 pct lower than in the same month in 1986 the federal statistics office said
the senate could consider a house passed bill that would allow wheat and feedgrains farmers to receive at least 92 pct of their income support payments if flooding last year prevented or will prevent them from planting their 1987 crops senate staff members told 
oil worlds analysis predicted only a slight production increase of 05 mln tonnes in the year to end september 1987 compared with increases of 36 mln and 40 mln tonnes in the previous two seasons
they said nigeria which holds the opec conference presidency and qatar probably have the biggest grievances about price differentials making some of their crudes uncompetitive
triton said because of the wells status as a deep exploratory well production qualifies for a five year royalty holiday under the saskatchewan drilling incentive products
central bank governor francisco gros said after a meeting with a 14 bank advisory committee that brazil cannot make any interest payments at this time though it would do so as soon as we can the talks came as the annual meeting of the 44 nation inter american development bank iadb in which both gros and the bankers had been taking part moved toward a close here
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 lead per short ton hecla said
mcdonalds mcd up on reaffirmed recommendation
bank new england bkne files note offering
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
the officials said if the commission has to buy the sugar it is determined to immediately resell it a move which would drive down market prices further
awb says australian wheat sales over 10 mln tonnes
bankers trust co is raising 200 mln dlrs through an offering of subordinated equity contract notes due 1997 with an eight pct coupon and par pricing said lead manager shearson lehman brothers inc
donaldson lufkin salomon brothers and mabon nugent co managed the issue which was increased from an initial offering of 60 mln dlrs
new england electric said it plans to issue 30 mln dlrs worth of pollution control bonds in 1987 and retire additional higher cost preferred stock
uganda africas second largest coffee producer was disappointed by the stalemate in recent coffee talks in london the chairman of the state run coffee marketing board cmb said
proceeds from the offering will repay the companys debt and will be used for general corporate purposes
the bank of spain today did not provide assistance funds to banks in a move to drain excess liquidity from the money market
malaysia is a member of the association of tin producing countries atpc which produce 65 pct of world tin
shr seven cts vs six cts net 1612000 vs 1406000 revs 382 mln vs 343 mln avg shrs 23742000 vs 22945000
carlton communications plc ccmll said in a statement it had purchased a 20 pct stake or some 51 mln shares in central independent television from ladbroke group plc ladbl at 578p per share
oper shr loss 251 dlrs vs profit 94 cts oper net loss 272 mln vs profit 103 mln revs 4642 mln vs 5046 mln nine mths oper shr loss 133 dlrs vs profit 257 dlrs oper net loss 144 mln vs profit 282 mln revs 141 billion vs 155 billion note 1987 qtr and nine mths excludes loss 411 mln dlrs or 379 dlrs per share and loss 418 mln dlrs or 387 dlrs per share respectively from discontinued real estate operations
france will fight ec farm proposals minister
the filing is holding up wet barrel trading today said one trader
we have only around 10 years of profitable logging left
extraordinary charges 13 mln vs 342 mln
private traders protested last year that epac was being permitted to take part in tenders open to them for the first liberalised 20 pct share of the countrys annual import needs
philippine trade gap widens in january august
commercial credit co is raising 150 mln dlrs through an offering of notes due 1997 yielding 8217 pct said lead manager morgan stanley and co inc
the sources noted that the backwardation premium of nearby supply over forward delivery dates back several weeks and is the longest on record
yield per harvested acre 219 cwt per acre vs 218 cwt per acre previously estimated the department said
mts acquisition had talks with pratt hotel southmark on caesars world purchase
us corn acreage seen near record low
real non farm gross product rose 09 pct in the fourth quarter after zero growth in the third quarter and a 13 pct fall a year earlier making an annual rise of 08 pct
the negotiating group on agriculture held its first meeting in february and is expected to meet again in may
it said interest payable march 31 will be paid in the usual manner to holders of record on march 15
1986 operating net excludes a charge from discontinued operations of 102 mln dlrs or 22 cts a share
this is the start of a new era in colombia because world market conditions are also new he said
its a case of whether you can buy from the right people at the right time mcleod young weir ltd transportation analyst tony hine commented
an undervalued currency will help those countries exports in the short term but in the long run they have to be concerned about how they are perceived in the international business community yeutter said
service resources src unit in acquisition
brown and sons inc and bateman eichler hill richards inc
rp scherer corp said it is offering 16 mln shares of 5 3 4 pct convertible exchangeable preferred stock at 25 dlrs a share
novamin board to recommend breakwater bwrlf bid
costs should be below 50 cents a pound after depreciation but before interest and corporate expense by 1989 or 1990
group net profit in 1985 was 596 mln marks parent company net was 477 mln marks
tultex corp ttx 1st qtr feb 28
the sale expected to close in april also calls for retirement of the units 400000 dlr bank debt multi step said
in milan a fiat spokesman had no comment on the reports
state to control 70 pct of pakistan tea imports
but when argentina announced export taxes for the 1987 88 year in july the differential was narrowed only one pct
the terra nova field lying 350 kilometers east of st
usda reports corn sold to ussr taiwan
the philippines exported 43540 tonnes of coconut oil worth 117 mln dlrs to europe in january against total exports of 86959 tonnes worth 238 mln
us department of energy secretary john herrington said he was optimistic about the chances of providing a more generous depletion allowance for oil and gas producers but added that the plan faces strong opposition from some members of the reagan administration
he said japanese bankers were unaware of the exact extent of western commercial bank exposure to nigeria and were uncertain about the proposed refinancing package details
charles rose an analyst with oppenheimer and co said that on a breakup valuation the company might be worth as much as 125 dlrs per share
amsterdam rotterdam bank nv amroas said it plans to issue 300 mln 675 pct capital bonds due 1988 2007
centerior energy corps cleveland electric illuminating co subsidiary sdaid it will redeem on april three all 75 mln dlrs of its 16 5 8 pct first mortgage bonds due 2012 at 1120 dlrs per 1000 dlrs principal amount plus accrued interest of 1478 dlrs
it seems the trade was looking for more acres to be bid into the program she said
he replaces g
uk government bonds or gilts surged by more than 1 2 point on the better than expected news as earlier worries about the figures evaporated
our advisors convinced us the market would give higher multiples for pure plays blackburn said
payn save payn 1st qtr jan 31 net
the underwriting syndicate expects the finance ministry to propose a 02 to 03 percentage point cut in the coupon of the 10 year government bond to be issued in april from the five pct march issue underwriting sources said
a spokesman speaking from frankfurt told offers have increased recently but contracts have not yet been concluded
us bancorp usbc 1st qtr net
alan slifka a partner in halcyon told the shares were purchased for investment purposes but declined further comment
a jury trial has been requested
bfce issues 17 billion yen eurobond
about 1454 mln hectares of wheat were affected in 1986
the may increase represents the seventh monthly rise with reserves up 9947 billion dlrs in that period and up 9816 billion since the start of 1987
exportfinans 15 billion yen of five pct eurobonds due 1992
congressional aides said the committee also agreed us companies would be allowed to press for relief from imports of counterfeit products made in violation of us copyright and patent laws
saudi role in gulf praised by us officials
united jersey banks said it plans to merge two of its southern new jersey member banks into one 704 mln dlr organization
i would be very surprised if there is not a very early further fall in interest rates lawson said in a radio interview
world bank loans uganda 13 mln dlrs
consumer members of the international cocoa organization icco accepted a final buffer stock rules compromise on the condition that producers also agree consumer spokesman peter baron said
its an investment and were very happy with it
if they can get the financing and refinancing thats necessary they may be able to make their economies grow again asked whether he expected other nations to follow the path taken by brazil and ecuador he said the two countries were special cases
cheung kongs subsidiary international city holdings ltd will complete work on the hotel by the end of 1988 when it will be handed over to citic
he hopes to get approval for a structural adjustment facility and compensatory financing facility starting in june
thereafter livestock farmers would benefit from a predictable and stable grain price he said
gordex said the expansion of the cape spencer facilities is intended to enable operation 24 hours a day throughout the year
the study said the combined gcc bugdet deficits would rise to 232 billion dlrs from 179 billion last year
computer microfilm corp said it expects revenues of over 125 mln dlrs and higher earnings in 1987
2nd qtr march 31 shr 57 cts vs not given net 790874 vs 628020 1st half shr 115 dlrs vs not given net 1588985 vs 1073163 note company recently went public
john mowlem plc the uk building and construction company has arranged a 50 mln stg commercial paper program with an option to issue notes in us dollars mowlem treasurer philip ridal said
china light unit renews commercial paper facility
computerland franchise owners pay royalties averaging 59 pct to the parent company
it was suspended when the kwachas rapid devaluation and strong fluctuations made economic planning almost impossible for the government and the private sector he said
he said that the us israel free trade agreement passed last year and eliminating all duties and other commercial restrictions between the two nations through 1994 would continue to facilitate the desired export growth
the council session will be chaired instead by icco vice chairman sir denis henry the delegate from grenada icco officials said
shr loss 21 cts vs loss 14 cts net loss 838069 vs loss 433875 revs 1080068 vs 1793398 avg shrs 4004826 vs 3172537 12 mths shr loss 39 cts vs 11 cts net loss 1387500 vs loss 334463 revs 6456882 vs 5605680 avg shrs 3542217 vs 3071456
hemsley said the seaway authority plans to raise tolls on the welland canal by eight pct this year compared to last years 15 pct rise while maintaining a freeze on tolls throughout the rest of the waterway
walbro walb sees strong 1st qtr results
japan imported 128089 tonnes of brazilian beans in calendar 1986 finance ministry customs cleared statistics show
the british petroleum bpl co plcs refinery at grangemouth scotland shut down after an explosion and fire in the hydrocracker on march 22 will probably be back in operation towards the week end a refinery spokesman said
corning glass works is raising 75 mln dlrs through an issue of 8 1 4 pct 15 year non callable debentures priced at par underwriters goldman sachs and co and lazard freres and co said
we are not only holding our gains on unemployment we are bringing unemployment down he said adding that the government had help the country avoid recession
the prepayments were on a 925 mln dlr nine year loan signed in 1985 which carried a four year grace period
allied bancshares albn downgraded by moodys
papandreou told an emergency cabinet meeting in athens 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 he said the activities of the research vessel could be aimed at partitioning the aegean
talyzin said the kremlin also decided to increase spending next year on medical services education pensions and social insurance schemes
the new rate is among changes agreed last month to the 203 billion dlr public sector debt rescheduling
myers neomar resources inc and richard l
gafs stock rose 1 5 8 today to 48 5 8
last years results include a 69 cent charge for the buyback of debt
the budget unveiled on tuesday foresaw gdp growth in 1987 of three pct
were opposed to tax increases we will fight tax increases we will deal with it politically in every forum possible said fitzwater when questioned about whether there was any change in the administrations position
theyre obviously having operational difficulties
belgium is launching a euro commercial paper program for an unlimited amount with the issue planned immediately after signing in mid may first chicago ltd said as arranger
us bill auctions seen at 563 65 559 61 pct
the government slashed development spending to 98 billion ringgit this year from 145 billion in 1986
scrap crepe prices firmed on good shortcovering demand at the colombo rubber auction brokers said
dutch cost of living falls 12 pct in february
the soviet union featured prominently in uk grain exports outside the ec for the period july 1 march 13 taking a combined total of 110 mln tonnes of wheat and barley out of all destination uk exports of 716 mln tonnes the home grown cereals authority said quoting provisional customs and excise figures
the cargo priced at 24910 us dlrs per tonne c and f taiwan is set for delivery before july 7 he said
it raises questions as to the strength of their consortium and the purpose of their offer dixons also said a us federal court had refused a request by counsel for cyacq audio video affiliates inc ava and a shareholder plaintiff to prevent dixons from completing its tender offer for cyclops
brazil last month suspended interest payments on its 68 billion dlrs debt to commercial banks and froze short term trade and money market lines
specific trade problems with other nations and will encourage flows of funds to developing countries the officials said
the report said falling oil prices and the depreciation of the dollar during 1986 had favoured oil importing countries such as italy
officials said they had provided the world bank with information on the economic plan now being drawn up by finance minister luiz carlos bresser pereira
more
as a result the parent bank partial operating profit rose by 32 pct to 752 mln marks
soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 161 151 137 136 production 1420 1413 1365 1366 imports 331 329 308 305 consumption 1402 1403 1333 1340 exports 333 335 315 316 end stocks 178 154 161 151 note imports and exports do not balance due to differing marketing years and time lags between reported exports and imports
fritz also said he thought the value of the bonus would end up being close to the offer washington made peking earlier this year when usda approved subsidies to china of around 36 dlrs per tonne on one mln tonnes of wheat
al wattari noted that total opec output was below the organizations agreed ceiling for all member countries in february although this had meant sacrifices
members of the united food and commercial workers union ufcw local 222 voted sunday to go on strike against iowa beef processors inc dakota city nebraska plant effective tuesday
goodrich said moore is still actively looking for acquisitions related to its core areas of business forms manufacturing or handling
shr 105 dlrs vs 74 cts net 5244000 vs 3684000 nine mths shr 293 dlrs vs 214 dlrs net 146 mln vs 106 mln
sec staff advises fraud charges against wppss
the very recent improvement in the price structure is an indicator of such determination by the organization to stick to the official selling price the statement said
the key question will be not whether there is a large increase in first quarter gnp but whether any increase is sustainable or a one shot deal kahan said
the australia and new zealand banking group ltd anzas rate remains at 23 pct
shr 40 cts vs 23 cts net 1173859 vs 672824 revs 110 mln vs 9857707 nine mths shr 103 dlrs vs 56 cts net 2986823 vs 1637559 revs 315 mln vs 272 mln
interest rates are not coming down and i would not bet a lot that they will drop sharply he added i personally think interest rates may decline by 50 basis points at the most this year zuckerman said the 405 mln dlr bond sale was composed of 139 separate issues
cobanco inc cbco year net
oper shr 11 cts vs 11 cts oper net 164000 vs 161000 revs 2598000 vs 2241000 nine mths oper shr 28 cts vs 18 cts oper net 419000 vs 276000 revs 6983000 vs 5019000 note net excludes tax loss carryforwards 11876 dlrs vs 83045 dlrs in quarter and 36684 dlrs vs 144590 dlrs
certificated cotton stocks
fluctuating exchange and interest rates added volatility and uncertainty while the revaluation of the yen is leading to substantial restructuring of japanese industry cra said
barring any market manipulations a good us harvest in 1987 could lead to attractive prices active trading and the reappearance of the usa as the worlds leading producer of peanuts it said
borg warner bor examining gaf gaf proposal
the venice summit is scheduled for june
the plan covering swaps forward contracts and options involving interest or exchange rates complements proposals agreed in january between the two central banks to make commercial banks in the us and britain subject to similar standards for measuring capital adequacy the proposal said
sharp is a time sharing network and database company specialising in finance economics energy and aviation
qtly div 25 cts vs 25 cts prior pay july 1 record may 7
its very difficult for anyone to know which way the debt problem is going and with volcker out of the picture it just adds to the uncertainty one banker said
although meteorologists are cautious about linking the asia pacific regions disrupted weather patterns to any single cause el ninos role is being closely studied they said
boston five said the planned merger with newworld bank for savings will create the largest savings bank in massachusetts and the third largest in new england with combined assets of 31 billion dlrs
a world bank team led by senior economist katrine saito arrived in uganda for talks on an economic recovery program projected to cost one billion dlrs over three years
we are not going to go the imf he said
price levels will continue to be expressed in the joint malaysian singapore currency he added
toll brothers inc tol 1st qtr jan 31 net
shr loss 12 cts vs loss 16 cts net loss 214000 vs 309000 revs 3056000 vs 2545000 year shr loss 43 cts vs loss nine cts net loss 754000 vs loss 159000 revs 114 mln vs 114 mln
giordano was in sydney to start an asian pacific tour by exchange executives promoting the hedging benefits of the exchange trade currency option market against existing over the counter option trading during the local working day
the 155 mln to 16 mln bags sold to members would be around the figure brazil had offered to ship if ico quotas were reintroduced although dauster has said this offer expired with the breakdown of talks
we expect sulphurs pricing structure to strengthen during the current year probably in the third and fourth quarters
the sources said they believed baker saw it as a major action
the officials said the tariff cuts would contribute to holding wholesale and consumer price rises at less than three pct this year
fourth national a bank holding company with about 500 mln dlrs in assets said in a statement that it will continue to operate its four subsidiaries and retain its employees
the cmbs financial difficulties first started in january following delays in rail freighting export consignments of coffee to the ports of mombasa dar es salaam and tanga
the company said it expects to report strong earnings per share growth and a record return on equity in fiscal 1987 it said this should be achieved despite expected non operating charges in the final quarter
american can co said it is issuing in the euromarkets 175 mln dlrs of convertible eurodollar bonds due 2002 with a 5 1 2 pct coupon and par pricing
yankee cos incs eskey inc esk subsidiary said it reached an agreement in principle to sell its eskeys yale e
deliveries must be completed no later than two business days prior to the end of the delivery month
france and yugoslavia agreed to set up a joint economic commission as part of efforts to promote commercial links and industrial cooperation between the two countries
he said marine midland banks inc mm which leads a syndicate that has provided commitments for a 500 mln dlr margin facility believes it will be able to arrange for further commitments under the margin facility to advance up to an additional 25 mln dlrs that may be needed to permit the purchase of shares under the offer
kelsey hayes canada ltd kelto nine mths net
he also said some newly industrialized countries should let their currencies appreciate
net charge offs were 109 mln dlrs down from 128 mln dlrs in 1986
s and p raised hughes tools senior debt to a minus from b plus subordinated debt bbb plus from b minus and commercial paper to a 2 from c
the company also sold three properties and a part interest in a proposed hotel development which should result in extraordinary gains of 60 mln dlrs in 1986 according to james capel far east ltd
the study was released earlier today
conrac corp said it is asking shareholders to take no action on the 25 dlr per share tender offer for all its shares launched this morning by mark iv industries inc iv the company said its board will study the offer with financial and legal advisors and make a recommendation to shareholders by april 17
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
seasonally adjusted the february current account surplus narrowed against january
year on year inflation stood at 100 pct in february and at 153 pct in march 1986
louisiana land llx assumes inexcos debt
in addition the company said it plans to offer to exchange one dlr principal amount of 13 pct debentures due september 1 1997 for each outstanding one dlr principal amount of 8 1 4 pct debentures
granma said rainfall over the past year has been less than 50 pct of normal precipitation
mge corn syrup futures contract clears hurdle
the new price for continuous galvanizing grade alloyed with controlled lead and aluminum additions is 37 3 4 us cts and 50 1 4 canadian cts a pound
the companys dividend was an unchanged five marks
the spokesman declined to comment on us newspaper reports that the purchase price totalled 173 mln dlrs
us oil production had dropped some half mln barrels a day bbd in 1986 and would continue to fall if the price stayed below 20 dlrs a barrel
limited shipments will begin next quarter with full production planned for the following quarter it said
the dot acted shortly after the us department of justice disclosed that it supported dismissal of the twa application
the daily average was a record 7020 lots up four pct from the previous record set in march 1985
trade sources said the ruling though effective immediately was subject to appeal and would have to be confirmed in further proceedings
uk chancellor of the exchequer nigel lawson said the collapse of british share prices this week held no implication so far for domestic interest rates
cyclops has about 41 mln shares outstanding
kuranari said both the us and japan should approach the trade imbalance in a calm unemotional manner
reynolds said the debentures which will be offered in denominations of 1000 dlrs may be converted into reynolds common and are redeemable in whole or in part at the option of the company after apil 1 1989
they also said a smaller crop and adverse weather this summer in argentina had reduced production
baker says he stands by paris currency agreement
trade and commission house forecasts ranged from 102 to 109 mln acres
securities issued by foreign banks would attract a weighting of 50 pct while authorities are considering requiring banks to include 100 pct of the value of debt assets of foreign issuers including sovereign borrowers
shr 19 cts vs 38 cts net 397000 vs 788000 nine mths shr 80 cts vs 119 dlrs net 1674000 vs 2455000 note company would not provide assets deposits and loans figures
the secs wppss investigation began in late 1983 and the agencys slow pace on the probe has been publicly criticized on several occasions since then by rep
western analysts attributed the deficit rise with the west to the world oil price slump which hit moscows main export and cut hard currency earnings needed for purchases in the west
backlog 310 mln dlrs up six pct from a year before
the kwacha stood at 22 per dollar when the auction system was first introduced in october 1985 but it slid to around 15 per dollar by the time it was suspended 16 months later
the refined palm oil market was slightly easier and april delivery of rbd palm olein to singapore traded at 85650 ringgit per tonne
carolin said the results sharply disagreed with an earlier assay performed by intergold usa inc which showed one ounce of gold per ton and 1 2 ounce of platinum per ton
anticipated improved cash flows will allow the company to invest and acquire much more aggressively than it has in the past few years weyerhaeuser also said
the fundamental keys to the pounds rise have been relatively high uk interest rates and a vague optimism surrounding the british economy analysts said
uae central bank cd yields higher
publishers equipment corp pecn year net
limits on buffer stock purchases of nearby and non member cocoa will reduce the impact on terminal prices which are pressured by the overhang of malaysian material traders said
data architects inc dai 2nd qtr may 31 net
treasury bond futures came under pressure today which traders linked to a persistently firm federal funds rate and a rise in oil prices
the statement said the sale did not represent any withdrawal from nordbankens undertakings towards the fermenta group and that it had been sanctioned by the other main shareholders
latin america while retaining reservations now accepts the principle of setting greater conditions on loans but is unwilling to countenance us demands for greater veto powers on lending officials and delegates said
blockbuster video superstores are franchises of blockbuster entertainment corp bbec rio grande video will act as general partner owning 50 pct of the partnership it said
diamond shamrock dia sees better 1987 earnings
no soluble sales were registered today
us treasury proposes safrican uranium imports
but yesterdays statement by seven leading industrial powers endorses the yens rise from around 153 to the dollar the level at the february 22 paris accord to about 145 today
boothe financial corp bcmp 4th qtr net
output in the united states fell 185 pct to 530 mln tonnes that in japan 78 pct to 727 mln and that in the european community 65 pct to 991 mln
theres so much complexity so much inertia so much bureacracy that stricly speaking about the mechanisms it wont happen that fast said analyst victor krueger of the gartner group
he said european and japanese banks were showing a more flexible attitude towards brazils problems than us banks and it was difficult to discuss capitalisation with the latter
qtr ends jan 31 shr 23 cts vs eight cts net 309963 vs 110356 revs 2503451 vs 1351076 nine mths shr 62 cts vs 25 cts net 851776 vs 331666 revs 6739351 vs 4107713
the price of sugar had not changed in 20 years the official press has said
taiwan issues more certificates of deposit
usda puts march 1 us corn stocks at 8246849000 bu soybeans 1384208000
bankers have estimated that brazil owes uk banks around 85 billion dlrs in long and medium term loans giving the uk the third largest exposure after the us and japan
plains plns posts reserves increases
jc penney co inc said its board declared a two for one stock split and raised the quarterly dividend 12 cts per share on a presplit basis to 74 cts
the other envisaged pechiney putting together a consortium of european partners to set up a packaging and equipment manufacturing unit in the soviet union
snamprogetti built the first methanol refinery on trinidad five years ago
the company said its offer of 775 dlrs a share for the stock has been extended to 2000 est march 23 from 2400 march 17
venezuela has still to work out final details of its plan to supply ecuador with 50000 barrels per day of crude oil to compensate that country for lost exports caused by earthquake damage a senior petroleos de venezuela pdvsa official said
but recent order receipts indicate a firmer tone in the heavy duty truck segment which could result in a five to eight pct increase in industry shipments for the full year he said
the firm produced 1863 tonnes of nickel in the first two months of 1986 compared with 2364 tonnes in the same period in 1985
a defense department spokesman said the agency was unaware of schlumbergers announcement and would have no immediate reaction
payment date is april 2 1992
ibc seeks export details to set coffee quotas
the third option would be for governments to distinguish between the commercial and social aspects of agriculture possibly varying support prices according to farm size or overall production
he told les echos he aims to reduce the 1988 budget deficit to 115 billion francs from this years figure of 129 billion and compared with a 141 billion deficit in 1985
the measure sponsored by sen
the report concluded that there is a strong possibility official opec prices will rise to 20 dlrs a barrel by end 1987 and 22 dlrs a barrel by end 1988
summit petroleum corp said it sold 113 mln shares or 294 pct of its common stock to halbert and associates inc the company said the shares were previously held by consolidated energy corp and harken oil and gas inc hogi in addition david d
heller said he would require the holding company to serve as a source of strength to the bank by making a commitment to maintain the banks capital
the bond in denominations of 1000 and 10000 dlrs will be listed in london
in the uk a proposed inland revenue ruling would affect the tax treatment of certain types of loans many of which are made to latin american countries
mcrae industries mri a increases payout
m
prior to the completion of the recent exploration program gordex estimated the cape spencer deposit had 200000 tons
uk money market shortage forecast revised up
the soft tone to refining margins reflects large worldwide stocks of petroleum products and thin trading activity traders said
they said the fed cannot tighten policy and push up interest rates as might be appropriate to stabilize the dollar and head off renewed inflationary psychology
etl would bring no synergies to monier unlike csr which is a leader in building materials herbert said
the ec commission said it was adopting an open attitude about whether a system of production quotas should remain for the indefinite future on heavy steel products which account for about 45 pct of all ec steel goods
the selling concession is 1 3 8 pct while management and underwriting combined pays 1 2 pct
the retail car market is much more freeform now than it was in 1956 the year things began to change says detroit analyst arvid jauppi of arvid jauppi and associates
great western said it will purchase branches in deerfield beach and hollywood with approximately 80 mln dlrs in deposits from guardian savings and loan association and one in palm beach with approximately 10 mln in deposits from goldome savings bank
1986 qtr and nine mths includes gain 105000 dlrs or one cent per share and 342000 dlrs or three cts per share respectively from realized gains on investments
qtly distribution 435884 cts vs 372427 cts in prior qtr payable april 10 record march 31
soviet soymeal demand rose by 310000 tonnes in july and 330000 tonnes in august over the respective year ago months following a huge increase in soymeal imports
the company said it is also offering 678 common shares for each 1000 dlrs of its 753000 dlrs of outstanding 11 7 8 pct subordinated debentures due may 15 1998 and 595 common shares for each 1000 dlrs principal amount of its 6572000 dlrs of 10 1 2 pct convertible subordinated debentures due feb 1 2002
c itoh and co ltd cittt 
the three year loan which will carry interest at 1 2 percentage point over london interbank offered rate will be borrowed under the name of daewoo industrial co hk ltd the loan will be used mainly to finance repayment of the the companys other borrowings
it said orders at its harris graphics subsidiary acquired in june 1986 continue to run at a strong pace for the six months orders rose 35 pct over the corresponding prior year period or on an annualized basis are running at about 630 mln dlrs
the itc has immunity except for the enforcement of an arbitration award and thus it is important for amt that the court accepts that the winding up petition represents a move to enforce an arbitration ruling
year on year inflation rose to 34 pct in february against a revised 32 pct in january and a year on year rate of 53 pct in february 1986 the bureau said
this weeks yield was 834 pct compared with the previous weeks 833 pct
investor lifts myers myr stake to 121 pct
british airports authority plc which will be privatised later this year is seeking a 200 mln stg multiple option facility banking sources said
other positive influences on the current account balance should be a decline in the invisibles deficit following a seasonal fall in interest payments and the dropping out of certain official aid payments they said
oshap technologies ltd oshuf year loss
investor paul bilzerian disclosed he holds a 72 pct stake in pay n pak stores inc common stock and is considering seeking control of the retail building material firm
the december quarter showed a 182 mln dlr surplus for merchandise trade unchanged from the september quarter surplus which was revised down from 271 mln dlrs
scotia mortgage issues 100 mln canadian dlr bond
there was really very little that remained to be done the ruling in san francisco came in a lawsuit that had been filed in a los angeles federal court in which the air transport employees union sought to force westerns management to fulfill a promise that it would honor union contracts if a merger took place
nuclear data ndi gets extensions on loans
crazy eddie said its board is not endorsing but will simply refrain from opposing the emi palmieri nominees
egypt has been authorized to purchase about 125000 tonnes of us wheat flour under an existing pl 480 agreement the us agriculture department said
shr 257p vs 215p div 6p vs 4p pretax profit 2413 mln stg vs 1640 mln net after tax 1508 mln vs 1052 extraordinary credit 871 mln stg vs nil turnover 1408 mln vs 9655 note the extraordinary item comprises profit less losses on the sale of certain subsidiaries less related tax and minority interests
up to march 26 19962000 shares or 92 pct of carlings stock has been deposited under the offer elders said
austria is issuing a 50 mln australian dlr eurobond due april 22 1992 with a 14 1 4 pct coupon and priced at 101 3 4 pct lead manager credit suisse first boston ltd said
honeywell inc hon 1st qtr oper net
first interstate bancorp chairman joseph pinola said the bank holding company would lose about 16 mln dlrs per year after taxes if it had to put its medium and long term debt on non accrual status
pacificare phsy in talks to acquire hmo
in addition attilio petrocelli president of metropolitan was named to fill a vacancy on the metex board of directors the company said
computer network technology corp said it introduced the channelink model 5100 r a high speed networking product line
in a broad sense this would decimate the union he said with temporary workers jeopardizing the jobs of staff employees
under the new pact national said it granted signature a five year option to acquire two mln shares of its common for an option price equal to its current market value
pickens is 58
we are more anxious than ever that the new approach of the maekawa committee does lead to speedy and effective action said ec industrial union leader lord ray pennock
price details were unclear but reports this morning suggested that turkey was offered sugar at prices ranging down to 212 dlrs a tonne c and f basis
bresser pereira said the economic plan would seek to keep the economy growing to build an eight billion dlr trade surplus and to force a sharp drop in the inflation rate
unocal corp said it intends to increase its spending for capital projects to 929 mln dlrs in 1987 eight pct more than the 862 mln spent in 1986
the current mission is not involved in that area but there are plans to buy substantial amounts of cotton from the us he noted his country is clearly not as open as the american market
at least one company has expressed interest and negotiations are not yet over banking sources said
kinder care inc kndr first qtr net
africa may have to follow brazil in halting foreign debt payments unless industrialised nations are prepared to be more flexible in trade and economic policy ethiopian trade minister tesfay dinka said
but this was largely counter balanced by currency factors
the bankers said that telexes will be sent today to the countrys other 330 bank creditors and that documentation covering the proposal will be mailed out shortly
allegheny international ag sells three units
anything the usda is announcing now is based on information they gathered before their cotton program was announced on march 20 one analyst cautioned
south korea to resist currency revaluation
vice chairman gerard van schaik said the decision by the european court of justice in luxembourg to allow foreign beer into the closed west german market europes biggest beer market offered interesting possibilities for heineken
us home declined to put a specific figure on what its net earnings would be for the coming first quarter but said it would definitely record a profit
shr 26 cts vs 38 cts net 440 mln vs 650 mln note1986 net includes one mln dlr extraordinary gain and 1985 net icludes four mln dlrs extraordinary loss
university genetics co ugeno 3rd qtr loss
it made the statement after talks with canadian officials about rumors in canada that some exporters were not paying the charge
the issue is guaranteed by denmark
these bonds will be used for deliveries as they are expected to be the cheapest deliverable issues due to low interest rates they said
the long term prime rate is customarily set 09 percentage point above the coupon on five year bank debentures issued by the long term banks every month
general partners controlled by privately held wagner and brown and by afg industries inc said it has started a tender offer for all common shares of gencorp inc and associated defensive preferred share purchase rights for 100 dlrs a share
at the official rate the 5445 billion sucres sum equals 573 mln dlrs
talks set for today between management and unions to try to solve the labour dispute at cargill uk ltds seaforth oilseed crushing plant have been rescheduled for monday a company spokesman said
detailed data on reserves shows that us net proved reserves of crude oil fell to 837 mln barrels from 853 mln barrels in 1985 natural gas liquid reserves were also lower in 1986 from the previous year
argentina has threatened to emulate brazils payments moratorium if the banks do not grant its request
shr 31 cts vs 27 cts net 114 mln vs 9905528 revs 1943 mln vs 1717 mln avg shrs 366 mln vs 364 mln note sixteen week periods
thre wallenbergs paid nobel industrier nobl st in which penser group has a 72 pct stake about 20 pct over the market price for the swedish match option the statement said
it closed at 15000 05 on monday
a spokesman for the finance ministry said no exact date had yet been set for the privatisation which the government has tabled for the second half of march
fernandez said an imf mission would visit here in july or august to review performance in the january june period
partnership buys 51 pct orange co oj stake
pittston co said wtc international nv shareholders approved the acquisition of the company by pittston
the exercise period is june 5 1987 to february 4 1992
rio tinto zinc net attributable profit lower
bsi raising 50 mln swiss francs via rights issue
central banks have easily beaten back the foreign exchange markets first test of the industrialized nations recent pact to stabilize currencies analysts said
s and p cited rising non performing loans and high loan loss provisions
reagan says trade bill faces veto in present form
rpt european trade may propose new ico formula
the measure of private sector liquidity psl2 rose an unadjusted 09 pct in february making a year on year unadjusted 131 pct rise
merrill lynch said its representatives discussed a possible leveraged buyout with borg warner as early as last december
fao said in its monthly food outlook bulletin total world grain output was expected to fall 38 mln tonnes to 1353 mln in 1987 due mainly to unusually high winter losses in the soviet union drought in china and reduced plantings in north america
it said wtrk owns and operates wtrk fm a philadelphia radio station
the bonds have a 6 3 4 pct coupon and were priced at 99938 to yield 60 basis points more than treasuries
interior grain and soybean prices in the affected counties will now be based solely against the texas gulf
the company said it will use proceeds from the sale to reduce the debt incurred by its acquisition of ex cell o corp last year
speaking before an american israel chamber of commerce seminar yaacobi said that in 1986 israeli exports to the us were over 23 billion dlrs or about one third of israels total exports while imports from the us were around 18 billion dlrs or roughly one sixth of the total
the demand wasnt so good a dealer for a german bank in london said
turnover in the first five months rose particularly strongly in the installations and automotive technology communications and telecommunications sectors but components and energy and automation showed a sharp decline
ael industries inc aelnao first qtr net
a statement said the agreement related to interest and principle and obligations from previous reschedulings due between july 1 1986 and november 13 1987 as well as arrears from the period up to june 30 1986
but he added there is no bond market to speak of in saudi arabia qatar oman or the uae with the last saudi riyal denominated bond issued in 1978
he said philippine copra cake contained much higher levels of aflatoxin
gnb inc said it joined with the management of the french company compagnie francaise delectro chimie to purchase the company for an undisclosed amount
meeting with them will glen fukushima director of the japan office of the us trade representatives office and jim gradoville of trade representatives office of industry and services
spains consumer price index rose 04 pct in february after increases of 07 pct the previous month and 04 pct in february last year national statistics institute figures show
a cut before the election has been virtually ruled out
the new rate is 105 pct apr annual percentage rate 112 pct including fees for normal repayment mortgages and 111 pct including fees for endowment and pension mortgages a spokesman for nat west said the position for existing mortgages is being kept under active review in the light of market conditions and an announcement will be made as soon as possible
bank negara said growth in external debt which declined progressively from a peak of 58 pct in 1982 to 136 pct in 1985 rose by 202 pct in 1986
the governments industry aid and protection review body the industries assistance commission iac will hold a 12 month inquiry into the australian wheat industry primary industry minister john kerin said
the federal reserve has to be pleased with this report carson said
in addition total is purchasing crude oil and refined product inventories at market value asamera said
exovir said the transaction increases the groups stake from 129 pct to 185 pct
theres a lot of reluctance by the other banks
some economic discomfort must be transferred from the united states to our friends trading partners and allies
waste managements offer is scheduled to expire march 25
shr profit two cts vs loss 12 cts net profit 156726 vs loss 776000 revs 1157883 vs 890138
a 0 92 program would have very little impact on us acreage prompting farmers to idle only an additional 35 mln acres of cropland every year according to a report from the agriculture department
the bond is available in denominations of 1000 and 10000 dlrs and be listed in luxembourg
kaneb said the jury awarded it and jim walter about 22 mln dlrs for required payments for deliveries through january 1987 plus interest through march 16 the full amount sought and rejected sonats counterclaim of fraud
but takeover speculation has escalated and wall street has been busy calculating break up values well in excess of 100 dlrs per share
the new bonds bear interest rates ranging from five to 525 pct and will be sold to the public he said
thailand exported 56652 tonnes of rice in the week ended april 7 down from 75160 tonnes the previous week the commerce ministry said
the warrants are exercisable from may 19 1987 until april 9 1992
one lobbyist with close connections to the reagan administration said a soviet trade team told private grain trade officials in new york last week that moscow would buy as much as four mln tonnes of us wheat much of it before mid year if it was competitively priced alexander ivlev an official with amtorg a soviet trading organization told he had no information to substantiate the rumors of an imminent wheat subsidy offer but said that moscow would consider buying us wheat if it was competitively priced
prior year net includes tax credits of 2132000 dlrs in quarter and 3039000 dlres in half
its gas will be fed into the statpipe line which gathers gas from norways statfjord gullfaks and oseberg fields
it said sorghum acreage in 1987 is six pct lower than in 1986
borg warner stock rose 1 3 8 to 49 5 8
if the reports are confirmed chinas major export destinations such as ussr japan and south korea could increase purchases of us corn it said
cattle prices continued to draw support from the winter storm that swept the plains states leaving animals stranded in snowbound fields and feed lots in miserable condition
international proteins said it will use the proceeds to expand domestic operations
asked if he would raise the issue at the next federal open market committee meeting he said even at previous meetings commodity prices were raised he added i would not expect future meetings to be different from past meetings in that respect
whittaker corp said it will have a gain on the sale of discontinued businesses after any operating losses from the businesses up until the dates of disposition but it will defer reporting the gain until its restructuring program hsa been substantially completed
state secretary for foreign affairs rene van der linden said the government was against the tax although it noted deepening ec financial difficulties
china has added 30000 tonnes of us corn to its previous commitments according to the us agriculture departments latest export sales report
innopac inc six mths february 28 net
qtly div 25 cts vs 25 cts pay april 20 record march 31
kenai corp said its shareholders approved of a reorganization to avoid a chapter 11 filing under the us bankruptcy code
bfi communications systems inc 4th qtr loss
gates corp which owns 648 pct of gates learjet agreed earlier this week to sell its shares to a partnership formed by privately held cobey corp and a unit of bear stearns cos inc bsc for 650 dlrs a share or 51 mln dlrs
analysts said the prime rate rises may have been triggered partly by a desire by banks to enhance profit margins given problems with developing country loans
persio arida a former director of the brazizlian central bank who was a key architect of that countrys cruzado plan to curb inflation said there is an incentive problem throughout latin america
the government ordered thousands of troops into the refineries on tuesday to forestall any occupation but the troops were removed yesterday
quaker oats acquired vernells in august 1986 when it purchased golden grain macaroni co
a senior ivory coast agriculture ministry official confirmed his countrys backing for a new international cocoa pact and said ivorian delegates would be present at talks on its buffer stock starting this week
dekalb dklbbo sells heinold hog market
howard told reporters that britain was actively considering possible retaliatory measures if it did not get its way on the telecommunications issue
egypt and the soviet union are expected to sign an agreement in moscow next week settling cairos three billion dlr military debt egyptian officials said
sela presented the document to a week long conference of latin american financial and economic experts meeting to lay the groundwork for this years annual meeting of the united nations conference on trade and development unctad sela called for new efforts to break the vicious circle of debt stagnation and productive retrogression the region has been immersed in since the beginning of the decade the alterantives to existing approaches for dealing with the regions crushing foreign debt must include greater concessions from creditors according to sela
usda denies changes in texas gulf differentials
gross fees of 1 1 2 pct comprise one pct for selling and 1 2 pct for management and underwriting combined
the government is going to examine assets of this nature to ascertain if they continue to play an appropriate role in public policy and we will make a determination as we have in other cases mulroney told the daily question period
wurlitzer foundation told the securities and exchange commission it cut its stake in wurlitzer co to 89000 shares or 498 pct of the total outstanding common stock from 125000 shares or 70 pct
however bankers believe this will be the countrys only major financing for this year although another small private placement in japan could be arranged later in the year
the four banks are central bank of volusia county with assets of 593 mln dlrs bank of pensacola with assets of 638 mln dlrs and vista bank which operates vista bank of volusia county with assets of 378 mln dlrs and vista bank of marion county with assets of 723 mln dlrs
the soil needs to warm up rapidly and moisture content must improve to avoid further delays to spring field work it added
the spokesman said the commission would only have to reimburse the member state for the cost of buying in the sugar after the product was sold out of intervention stores at a later date
it gave no 1986 area figures
these dollar denominated notes would be sold by banks at a discount to multi national firms which would then convert them at face value with the central bank thus receiving subsidized pesos for use in funding government approved investments
the talks are now in a make or break phase the sources said
one rural vote is worth several city votes due to the pattern of constituency borders
most soybean processing plants are still in operation with little talk of taking temporary down time so far
dome petroleum ltds 232 pct stake of gold producer dome mines ltd continues to be for sale at the right price spokesman david annesley said in response to an inquiry
this would result in a french soft wheat harvest of around 31 mln tonnes against 255 mln in 1986 87 given a ministry of agriculture estimate of area planted of 466 mln hectares against 461 mln in 1986 87
the bank of england said the issue announced on monday and available for official dealings from this morning was no longer operating as a tap
italy deficit not due to liberalization minister
more
however technicians are not involved in the walkout at cbs and abc
the dollar remained close to post world war ii lows today against the japanese yen despite buying by several central banks including the federal reserve dealers said
amortizations on the loan were not due to begin until 1990 but the philippines agreed to make the extra 111 mln dlr prepayment in order to win a relatively low interest margin of 7 8 pct over eurodollar rates bankers said
six and 12 month bills both dropped nine basis points to respective bids of 570 pct and 575 pct
the government lowered its gnp forecast for 1986 87 from four pct last december
john labatt ltd 3rd qtr jan 31 net
yeutter said the problem with international trade talks was that they tended to get bogged down for years
shipments during november 1986 amounted to 138257 tonnes against 109250 tonnes in the same month of 1985
roy garofalo woolworth vice president told that income generated by the companys specialty store operations accounted for 52 pct of the parent companys 1986 profits
baker said it will continue to pursue the divestitures of the units named in the consent decree
the federal reserve is expected to enter the government securities market to add reserves via customer repurchase agreements economists said
funaro said a mechanism would have to be found to end brazils debt crisis but it would not be easy
suddenly instead of the us it is europe that is laying the golden egg said de hora
vms mortgage investors vmtgz raises payout
hillsdown says early 1987 results encouraging
however a number of farm groups have told lugar they oppose the proposal on the grounds it would reopen the 1985 farm bill and the senator has decided to take a second look at the proposal the aide said
leclerc said alcan decided it would cost too much to modernize the plant
first union func to buy florida bank
a 2625 mln dlr annual dividend would be paid to the parent after a very disappointing year
but even if the turnaround did not occur there would be no need to worry about the economy as long as the weakness of exports did not affect currently good domestic demand
k mart km opens bank branches in stores
this will raise indonesias investment ratio to about 40 pct from the current 25 pct
but there has to be a clear indication that they are willing to act he said
wheat hrw hrs srw sww durum chicago 304 298 ill
president suharto said he wanted to see greater transfer of technology to indonesian companies and more help from the oil industry for the regions in which companies operated
kenneth mccormick a co chairman of the isda and president of kleinwort benson cross financing inc said the bank of england and the us federal reserve board were expected later today to announce joint proposals for setting minimum capital standards for counterparties in swaps
herbert said britains redland plc rdldl which holds just under 50 pct of monier still supported the csr bid and had told csr it is not a seller
union officials said industrial action could spread to other states as the federal government also plans to make sharp cuts in workers compensation
southam to sell 49 pct interest in brandon sun
the ministry estimates west germanys sugar self sufficiency during the current agricultural year july june unchanged at 137 pct
bristol myers trust byu extends expiration
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 69 days 500 pct 500 pct 30 124 days 70 88 days 592 pct 590 pct 125 150 days 89 123 days 500 pct 500 pct 151 173 days 124 150 days 593 pct 592 pct 174 182 days 151 349 days 500 pct 500 pct 183 349 days 350 360 days 598 pct 594 pct 350 360 days
but usda officials said even if consultations were held soon a subsidy offer would probably not be made
general partners said it is asking gencorp for its shareholder lists for help in disseminating the offer
venezuela wants 24 billion dlrs export finance
apache apa files for 100 mln dlr offering
shr 103 dlrs vs 88 cts net 595 mln vs 519 mln revs 6417 mln vs 5578 mln avg shrs 574 mln vs 590 mln nine mths shr 251 dlrs vs 214 dlrs net 1452 mln vs 1264 mln revs 171 billion vs 147 billion avg shrs 578 mln vs 590 mln note 1986 figures restated to reflected change in accounting methods related to pension expenses
but now the surplus is growing faster than we expected he said
it earlier reported strikes at 0650 gmt and at 1930 gmt last night
last month the bank endorsed economic changes already introduced by indonesia but implied it wanted more
bsn corp said it expects revenues of about 120 mln dlrs and a substantial increase in net income and earnings per share for 1987
dixons group plc dxnsl the british concern that recently acquired operational control of cyclops corp said it is exploring the possibility of selling the cyclops subsidiary busy beaver building centers inc
excel bancorp inc said its board declared an initial dividend of 10 cts per share payable april 20 to holders of record on april six
opec wants 18 dlr oil price oapec official
on march 10 tesco launched a 1514 mln stg bid for hillards
it operates a global packet switching network and global limits systems for foreign exchange trading
he said dutch money supply growth which ran at 34 pct in january could also contribute to some inflation
earlier today general partners controlled by wagner and brown and afg industries inc said it started a tender offer for all of gencorps shares and stock purchase rights for 100 dlrs a share
but others believe the company could very well of considered the option of spinning out part of shearson and one rumor suggests selling about 20 pct of it in the market
that debt will set the company off at a 60 pct debt to capital ratio which hemminghaus said is too much
the paris accord said currencies are within ranges broadly consistent with underlying economic fundamentals given the policy commitments summarized in this statement now they accept the dollars lower level especially against the yen as hard reality that is nonetheless consistent with the agreement
we have to strengthen the cooperation between the seven major industrial countries and remind ourselves of the pledges we made at the louvre he told journalists
reichhold chemical inc said its board adopted a warrant dividend plan in which one preferred stock purchase right will be distributed as a dividend on each common share outstanding
she sees the stock going to the mid 30s or higher
he said foreign trade law should be judged by gatt and not by the united states adding if the trade law is to be interpreted by the united states and not by the gatt what is to happen to the rest of us
on friday twa said it had already acquired four mln shares or 15 pct of usair
the department said exporters also reported corn sales of 143000 tonnes for delivery to taiwan with 56000 tonnes for shipment in the 1986 87 season and the balance for shipment in the 1987 88 year
in a white house briefing greenspan was asked by reporters if he thought the dollar had bottomed out
in australian dollar terms reserves fell by 124 billion dlrs to 1260 billion after falling 171 billion to 1385 billion in january and rising 792 mln to 1292 billion in february 1986
it widened to 361 billion in the first quarter of 1987 from 278 billion a year earlier taiwans official figures show
resturant associates industries inc raa 4th qtr
the national pork producers council nppc announced at this years american pork congress apc that the congress and trade show will be divided into two parts in 1988
it also has reorganized management and focused its operations on businesses that would be less affected by foreign competition gormley said
governor spencer russell said in a statement the central bank did not accept arguments that the battle against inflation should now take a low second priority after the sharemarkets plunge
andriessen noted the ec has over two mln olive oil producers mostly small farmers who could be helped by the tax
shr seven cts vs 20 cts net 184000 vs 387000 revs 9100000 vs 6700000 year shr 13 cts vs 33 cts net 315000 vs 627000 revs 324 mln vs 246 mln
but we should not forget that less than a year ago we were intervening to support sterling and had some temporary difficulty in persuading the markets that a one pct increase in base rates to 11 pct was a sufficient tightening of policy at the time he added
shipowners have offered a 100 per cent raise which the seamen rejected
the ec commission this month announced its draft proposal on farm trade reform expected to be tabled at gatt formally next week
it doesnt surprise me that they came up with another one said allan kaplan of merrill lynch and co
1986 qtr and nine mths includes tax gain 78000 dlrs and 107000 dlrs respectively
kleinwort grievesons lambert said the us strike was a responsible retaliation with the us apparently indicating to iran that it could increase the severity of its attacksf iran chose to raise the level of conflict
the us agriculture department last december slashed its 12 month 1987 sugar import quota from the philippines to 143780 short tons from 231660 short tons in 1986
up to 35 pct of the revolving credit will be available subject to two months notification
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 287000 to 295000 head versus 292000 week ago and 322000 a year ago
ten grain ships were loading and 14 were waiting to load at new orleans elevators trade sources said
growth in goods exports will slow to 175 pct in 1987 from 21 pct in 1986 but pick up slightly to 25 pct in 1988
retail coffee prices over the past year have remained about steady even though coffee market prices have tumbled so an upswing probably will not be passed onto the consumer either they said
the shares may be used for acquisition and for stock option plans it said
last year ibm earned 48 billion dlrs on revenues of 513 billion dlrs
corrected manhattan national mlc 4th qtr loss
total trade with mid east gulf states fell some 40 pct due to lower oil prices with imports at 155 billion dlrs compared with 274 billion and exports at 165 billion after 272 billion
the conversion period is from may 20 1987 until september 20 1992
however silver was less likely to continue to outpace the other metals by such a margin montagu said
usair said the tender is conditioned on receipt of enough shares to give usair at least a 501 pct interest in piedmont on a fully diluted basis and approval by the us department of transportation of a voting trust agreement permitting usair to buy and hold shares pending review of its application to gain control of piedmont
the margin was originally set at 625 basis points over bank bill rate for up to 50 mln dlrs and at 25 basis points for the remaining 50 mln dlrs
chilis chli files for convertible debentures
it said it is currently in the process of restructuring by reducing expenses and streamlining operations and has cut expenses from 50000 dlrs to less than 15000 dlrs a month
chryslers debt issues were put on creditwatch on march nine after the automaker announced plans to acquire american motors corp amo amcs debt is still on creditwatch with positive implications pending the deals outcome
the bank said the loan will be used to boost production by injecting gas in the partially depleted assam oil fields and to assist exploration in other areas including drilling 10 exploratory wells
boeing co said the hart scott rodino waiting period required in connection with its pending tender offer for argosystems inc argio expired at midnight june 18
lear redeemed all of its and bangor puntas outstanding debt after undergoing a leveraged buyout which closed in january and was led by forstmann little
baker darman said was committed to stabilizing currencies at current levels
major swiss banks raise customer time deposit rates 1 4 point to three pct credit suisse
the central bank also announced the auctions would be fortnightly not weekly beginning on april 2
the group said it reserved the future right to buy additional shares and to formulate other purposes or plans regarding its goodrich investment
repayments in the december quarter accounted for 14 billion dlrs against 260 mln in the september quarter and 334 mln a year earlier
fidelity international ltd a bermuda based investment advisory firm and an affiliated investment firm american values iii nv said they have acquired 208000 share of blasius industries inc
shr profit three cts vs loss 11 cts net profit 507000 vs loss 1823000 revs 112 mln vs 204000
brazil recently stopped paying interest on its commercial bank debt
he said that in the case of war with turkey it would not be possible for greece to discuss the future of american military bases here
comalco said the aluminium industry continued to suffer from low prices and excess capacity though the weak australian dollar had helped earnings
canada britain france japan the us and west germany agreed to cooperate in stabilising exchange rates around current levels
purolator agreed in late february to a 35 dlr a share 265 mln dlr offer from ef hutton lbo inc and certain members of its purolator courier divisions management
the one month cd rose 1 4 point to 6 3 8 pct while the two three and six month maturities rose 5 16 point each to 6 7 16 6 1 2 and 6 5 8 pct respectively
the dramatic drop in energy prices in early 1986 reverses much of the progress the company has made in the two previous years dome chairman j
the action reduces the guarantee line authorized for sales of protein meals to 127 mln dlrs and creates a rice credit guarantee line of 13 mln dlrs the department said
terms were not disclosed
rb industries inc said it completed the sale of its w and j sloane division to laurence crink jr and a group of investors
one cannot pity the banks they bear a lot of responsibility due to the encouragement they gave to these countries to take on debts
the venture will focus on investment advisory asset management market research and consulting on financing
the central bank purchased bills outright in band one at 10 3 8 pct comprising two mln stg of local authority bills and 14 mln stg of bank bills
goenka said that government bonds are making it increasingly difficult for private companies to launch new equity or debenture issues
bankers said the move represented a change of tactic by the bank which until now has relied on raising interest rates to choke off money supply growth
japanese securities houses and banks are eager to enter the market for lead management of mark eurobonds when the ban on japanese institutions is lifted but the entry may be difficult japanese bankers said
kaines confirms white sugar sales to india
it will take at least until the end of july to repair the pipeline and return output to normal levels
keating said the figures showed encouraging trends for a reduction in the current account deficit notably the decline in domestic demand and the strong increase in exports
figures in dollars
qtly div 25 cts vs 25 cts pay april 24 record march 31
the bond will be issued in denominations of 1000 and 10000 marks
new world pictures had increased the issue to 215 mln dlrs from an original offering of 150 mln dlrs and that brought in s and p
visual technology vsalc control changes
glenn english d okla and dan glickman d kan agreed to support an amendment to be offered next week by rep
brazil bank committee agree on credit request
pinola said first interstate like other banks has not yet decided to put the loans which brazil stopped paying interest on last month on non accrual status
colombia intends to improve the marketing of its coffee with the accent on more flexibility on setting export registration prices finance minister cesar gaviria said
the institutes said that if the government raised value added tax or other indirect taxes a large portion of the positive effects resulting from lower taxes would be lost
consolidated 1986 results for bnl which also has interests in tourism public works industrial credit and other sectors are expected to be announced later this year
laidlaw expects to sell a small rubber recycling operation a subsidiary of gsx within the next few weeks but this will not make any material contribution to earnings de groote said
the network said the changes it seeks would reduce costly duplication and are vital to nbcs long term health the major us networks have experienced cost cutting campaigns following a series of ownership changes that affected the parent companies of all three in the past two years
carrolton has 26 mln dlrs in assets
the new prices in the book are effective after oct one 1987 the company said
the issue was undersubscribed at a tender on february 18 but the government broker has supplied amounts of the stock on a number of occasions since then
but atts overall competitive risk continues to grow as it extends beyond its traditional business area s and p noted
tenders jordan will tender monday april 6 for 225000 tonnes of us hard and soft wheats for various april nov shipments under the eep
feds johnson says lower dollar would exacerbate market conditions
arnox corp said a special committee of its board is continuing talks with txl corp on the terms of txls offer to acquire arnox at 10 dlrs per share
shr loss 20 cts vs loss three cts net loss 346000 dlrs vs loss 26000 dlrs revs 7671000 dlrs vs 4775000 dlrs 12 mths shr profit one dlr vs profit 219 dlrs net profit 2927000 dlrs vs profit 5613000 dlrs revs 409 mln vs 358 mln
it said the redemption is part of a restructuring in which it has said it would divest itself of certain discontinued businesses repurchase shares and reduce long term debt
armtek corp previously the armstrong rubber co said it agreed to sell its industrial tire and assembly division to a dyneer corp dyr for an undisclosed sum
qtly div 165 cts vs 165 cts pay april 27 record april 20
the state bank of south australia is issuing a novel 50 mln australian dlr eurobond due april 8 1992 paying an initial coupon of 16 1 4 pct and priced at 101 pct lead manager swiss bank corp international said
the proposal adopted today addresses only the credit risks associated with interest rate swaps forward foreign exchange contracts and similar financial instruments
hu said these obstacles have been resolved and regular issues of government securities will be made initially carrying terms of up to five years and market related yields
the fund said 60 mln dlrs of the loan is available through the so called structural adjustment facility saf over the next three years
economists generally dont expect such large gains over the next months but are looking for an upward trend throughout the year
the company said image video produces and distributes videos for the home market
we have confirmed with the henley group that they own approximately 79 mln shares of santa fe southern pacific common stock
the reserves the worlds third largest after japan and west germany now total well over 60 billion us dlrs
the series j debentures were issued in europe in 1977 and were due february 1992 the company said
firms need not be pessimistic about export prospects even though foreign markets have become more difficult because of the marks strength the economics ministry said
cyclops cyl will not give data to group
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
danzar said the dividend will also include 18750000 commonwealth shares it already holds
in their talks this week the two sides discussed the administrations previous eep offer but did not talk about any new initiative
1986 oper net excludes one time charge of 168 mln dlrs or 246 dlrs a share in qtr and year due to the february 1987 sale of the companys engine parts division
lsi lighting systems inc lytso 1st qtr net
at the same time federated said it will ask shareholders to approve an increase in the number of authorized shares to 400 mln from 200 mln
aweke aynalem head of the governments agriculture development department told reporters prospects were good for attaining the target of 250000 tonnes of grain in the present growing season one of two each year in ethiopia
the department of transportation said it will allow usair group to acquire up to 51 pct of piedmont aviation pie voting stocks pending final approval of the proposed merger of the two airlines
lloyds merchant bank chief economist roger bootle said he expected base rates to be cut by one full point tomorrow
it said it requested the confidential information to better understand sgl but was denied this because it refused to sign an agreement prohibiting it from making a bid for sgl without sgls approval
the margins will return and this will be a better year than 1986 in 1986 refining and marketing showed operating profits of 401 mln dlrs on revenues of 1636 billion dlrs
trade sources said the actions being weighed by reagan include tariffs on a wide variety of japanese exports which use semiconductors
first federal savings bank ffsdo 2nd qtr net
t
the board expects to be meeting periodically over the next several weeks on the chrysler proposal amc said in its first formal statement since it acknowledged the chrysler proposal on monday
preliminary figures showed us refined deliveries rose to 151800 tons in january from 124800 tons in december
northeast savings nsb adopts rights plan
southmark sm to issue american realty rights
irna made no mention of natural gas exports to the soviet union which aqazadeh had said would be discussed before he left for moscow
in 1986 a large number of new insurance products emerged in the netherlands and the us aegon said
the company said it has also signed an agreement for wright engineers ltd of british columbia to recoup the cost of its services to stansbury by converting warrants
we intend to re establish our company as the quality leader in the industry glen nelson executive vice president for medtronics said the company intends to diversify internally and through acquisitions of companies in areas of medtronics expertise such as drug delivery systems
mees said iraq had sent a telex to opec and member countries calling for the formation of a committee to study what it said were inequalities in marketing potential among various members
shr profit 61 cts vs loss 45 cts net profit 3568000 vs loss 2598000 revs 346 mln vs 316 mln avg shrs 5861000 vs 5776000 year shr profit 56 cts vs loss 32 cts net profit 3374000 vs loss 1759000 revs 1320 mln vs 1316 mln note 1985 quarter net includes 665000 dlr tax credit
japan the traders said
intl thomson itoto plans preferred issue
carson crn cites impact of tax reform act
the reagan administration continues to debate whether to offer subsidized wheat to the soviet union but would need assurances from the soviets that they would buy the wheat before the subsidy offer would be made a senior us agriculture department official said
it said seven oaks direct management will own the remaining 20 pct
the treasury said it would also offer 2000 billion lire of 12 month bills at a base price of 9115 pct for a net annual yield of 905 pct down from 922 pct in mid february
yields on certificates of deposit offered by the united arab emirates central bank were higher than last mondays offering the bank said
producers intend to present a single candidate for the post and this is most likely to be edouard kouame from ivory coast they said
bp had inadequate distribution facilities in the us while standard which was strong on marketing and refining was short on crude oil
graphic industries inc grph 4th qtr jan 31 net
year ended march 31 shr loss three cts vs profit 10 cts net loss 58285 vs profit 182039 sales 3857122 vs 3188555 avg shrs 2108080 vs 1891250
cnb bancshares inc cnbeo 3rd qtr net
april shipments traded down to 326 dlrs per tonne fob
the shift in us strategy in part designed to appease mounting congressional anger over japanese policies comes just two weeks before industrial nations reconvene here to review the paris agreement to stabilize currencies
ratings under review include ford motors a 1 rated senior long term debt the credit units a 1 rated senior debt and its a 2 rated subordinated debt
the commission said it believed the association had given sufficient elements of proof for dumping to warrant an investigation which could lead it to impose duties if it found the complaints were justified
one way trade focused mainly on the fixed periods but short dates also rose dealers said
five other ships loaded with raw sugar are awaiting at silvertown to be discharged tate and lyle added
markey said he did not favor banning takeovers but thought the tender offer process needed reform including earlier disclosure of takeover attempts
on march 30 bass said it had agreed to sell its pontins uk holiday camps to a newly formed private company pontins ltd for some 575 mln stg
the company said its level of shipments is good despite a conservative buying pattern on the part of retailers industry wide
hughes tool co rose one to 12 1 4 on 1658000 shares apparently reflecting a belief that baker international corp bko will be able to persaude hughes to go along with a previously announced merger analysts said
shr 49 cts vs 57 cts net 251 mln vs 289 mln revs 2028 mln vs 2209 mln 12 mths shr 405 dlrs vs 366 dlrs net 2239 mln vs 1864 mln revs 135 billion vs 134 billion note full name potomac electric power co 1987 year includes extraordinary gain of 217 mln or 46 cts per share for the june 1986 sale of the companys virginia service territory to virginia power
mexico is also due to make the third drawing from its international monetary fund standby credit in the next few days based on a successful review of end 1986 economic results
the rating agency also assigned a b 3 rating to the partnerships proposed issue of cumulative convertible acquisition preferred units series a
the trust invests in short term junior preconstruction mortgage loans and has total principal amount of investments of approximately 1057 mln dlrs
we are not concerned about this and believe that the us presence in the war will make our nation even more serious
1986 3rd qtr and nine mths net includes a loss of 59 mln dlrs or 20 cts a share from continuing operations mainly for employee layoff costs in oilfied services sale of small electronic business and unfavorable lease comitments
bellofram corp and railway maintenance equipment co have already been sold
foreign investors took the lions share of trade last week but dealers noted considerable switching by domestic investors as the yield differential between mark and guilder issues enticed arbitrage activity
the sources said the main value of the us uk proposals lay in differentiating between different types of risk factor and for instance in placing greater weight on currency swaps than interest swaps
s and p cited the guarantee which is a senior obligation of the parent company the largest of the big four securities houses in japan
the accepted bids for annual rental payments ranged up to 90 dlrs per acre with an average of 5117 dlrs per acre
bank of new england said morgan stanley keefe bruyette goldman sachs and merrill lynch will underwrite the issue
mexico signs 120 mln dlr restructuring with uk 
the central banks widest measure of liquidity l rose 15 pct in january after one pct fall in december
1986 six months includes 679000 net gain
crops in the panhandle of oklahoma and texas are less developed and have some snow cover protection from the cold he noted
pirelli uk int finance issues 50 mln stg eurobond
june aug upper mississippi river lacrosse savage offered at 150 pct no bids
the minister also criticised state subsidies which he said mainly favoured large companies and created a tax burden for smaller and medium sized firms
of the two b warrants one entitles investors to purchase one participation certificate in inspectorate international ag and the other provides seven warrants
the board of borg warner has also taken steps to redeem its poison pill or share purchase rights for five cents per right effective immediately
bad weather closes alexandria port oil terminal
fed adds reserves via customer repurchases
farah inc said it omitted its quarterly common stock dividend for the second consecutive quarter
the 1986 loss resulted in shareholders deficiency of 15 mln dlrs compared to shareholders equity of 289 mln last year
if the crop can be drilled by the third week in april we will be delighted he said
uni marts inc said it acquired seven gas n all inc convenience stores for an undisclosed amount of cash
swedish unemployment down as data is revised
they said this move could inspire iran to offer discounts on cargoes loading in april but the likelihood of discounts depended largely on the levels of spot prices
our government projections of eight pct gnp growth five billion dlrs of current account surplus and 12 pct growth in exports all seemed to be reasonable early this year
shr 16 cts vs 35 cts net 476000 vs 929000 revs 3000000 vs 3600000
australia sold 9824 tonnes to iran in 1985 after being virtually excluded by new zealand competition for several years
but wrightson economics a us based research firm which drew its data from us treasury reports estimated that gross transactions in us government securities in london rose to 341 billion dlrs in the first nine months of 1986 alone against 188 billion in all of 1985
rainier bancorp said it completed the acquisition of tacoma wash based united bank for 59 mln dlrs worth of rainier stock
battery now has 22 mln shares on issue
interest rates on kuwaiti dinar deposits held firm in scattered trading despite a central bank decision to revive limited funding lines dealers said
naarden said earnings were hit by the fall in the value of both the dollar and sterling noting the figure was in line with prior expectations
traders said that as a whole the trade side was against re introduction of ico quotas while roasters were generally in favour with the single proviso that there had to be some formula basis for re allocating quota shares among producing countries
in order to get the dividend for these rights a southmark shareholder must own common stock on the ex dividend date april 27 the company said
it said it lifted capital spending on fixed assets to 2696 mln dlrs from 1783 mln mostly on the shelf project
shr loss 697 dlrs vs profit 92 cts net loss 240 mln vs profit 316 mln revs 19 billion vs 25 billion note 1986 includes loss of 250 mln dlrs or 727 dlrs a share from discontinued operations and writedowns of holdings in texasgulf inc
by the end of february shipments had fallen 800000 bags behind registrations leaving around 24 mln bags to be shipped during march
china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported
for the time being we will have to focus our policy more on the external side and we can live with a more expansionary money supply
the cause of the explosion and the extent of damage to the elevator was not immediatley known
farm land signed up to date in the conservation program totals 19488587 acres
year ago includes charge of five mln dlrs from discontinued operations
we have stated many times that coca cola co has no interest in an acquisition in the food service industry and thereby becoming a competitor to our food service customers wendys stock has been flying high on the rumors for two days
it said the order awarded by the pohang iron and steel co
argentine oil gas production fall in february
these factors keep their ratings at speculative grades the agency concluded
the combined companies to be called broad vogt and conant inc will be the largest structural steel erection company in the us combined sales of the two operations were more than 40 mln dlrs in 1986
but bundesbank president karl otto poehl has often made it clear in the past he opposes such gestures as mere eyewash economists said it was really up to the bonn government to cut taxes rather than for the bundesbank to ease monetary policy to meet pressure on west germany at the venice summit
cotton mln bales 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 4587 4814 4270 4311 production 6953 6966 7894 7892 imports 2307 2307 2149 2145 mill use 8072 7708 7684 7479 exports 2337 2350 2025 2028 end stocks 3416 3999 4587 4814 note imports and exports may not balance due to cotton in transit and reporting discrepancies in some countries
the acquisition was made through clark copys majority owned subsidiary interactive computer aids of norway
canadian bonds close slightly lower
the suits allege the company bought the shares back at an artificially inflated price violating securities laws breaching directors fiduciary duties and wasting corporate assets
us canada ties seen worse without trade pact
in its semi annual review of the world economy the oecd forecast that growth in the french gross domestic product gdp would run at about two pct in the next six months
year ago six mths includes gain of 95988 dlrs from refund of prior years real estate taxes
this was a remarkable change in attitude especially on the part of our american colleagues he said
azpurua said venezuelas 450 or so creditor banks have been contacted with details of the new agreement and that public finances director jorge marcano may visit financial centres to round up support
the new pact will be open for signature at un headquarters in new york from may 1 to december 31 this year
iowa beef had closed the plant indefinitely in mid december because it said it had no alternative to threats by meatpackers to disrupt operations
moodys investors services inc said it downgraded 200 mln dlrs of long term debt of zenith electronics corp
london freight market features ussr timecharters
italian treasury bill offer meets mixed demand
imo delaval imd sets initial dividend
tunisia has bought 150000 tonnes of french soft wheat for august to december shipment at 7670 dlrs per tonne fob with coface export credit trade sources said
danish credit downgrading not dramatic minister
sumita sees reagan bonds feasible says newspaper
encor earlier reported a 1986 net loss of 4066 mln dlrs
mr judges objective in this investment is to make his corporations management expertise available to san miguel so that the companys assets can be fully utilised san miguel the countrys largest brewer is also one of the major manufacturers of grocery lines
among individual states the steepest declines were in oklahoma and louisiana which lost eight and seven respectively
southwestern bell said it expects the new tax law to have a negative impact on its cash flow due mainly to the loss of investment tax credits
us senate panel approves trade mission bill
tokyo traders said on friday they had little interest in buying rubber from the inro buffer stock because of possible poor quality
miller told told the annual meeting
we just dont know where the market is going said a european banker
indias first ever rail bond issue oversubscribed
the securities and exchange commission reminded corporate raiders and others tendering for the shares of companies that they must extend the period their offers are open if key conditions are changed
this refusal for a time appeared to jeopardize the prospects for successful agreement with the rest of the banks mulford said
murphy raises crude oil postings 50 cts a bbl yesterday wti to 19 dlrs
growers did not revise their estimates for total volume of the coarse grain harvest over last weeks estimates
as an example he cited sterlings role as a petrocurrency which he said was diminishing
avon products avp to buy giorgio for 185 mln
world bank president barber conable is expected to press indonesia the third worlds sixth largest debtor to maintain the momentum of economic policy changes to tackle the slump in its oil revenues western diplomats said
the securities which are available in denominations of 1000 and 10000 dlrs will be listed on the luxembourg stock exchange
todays debt rescheduling talks between the philippines government and its bank advisory committee were postponed until thursday to give the banks more time to consider manilas novel proposal for paying part of its interest bill in notes instead of cash bankers said
minister sees enough ec states against oils tax
the company said it will have a 44 pct stake in reserves outstanding shares as a result of the exchange
brokers have been introduced to creeping deregulation over the past three years after legislation passed in 1984 to end restrictive trade practices forced the traditional partnerships to open themselves at first to partial ownership by outside institutions and eventually to full ownership
kellogg said the installed cost of the work to be performed is estimated to be 130 mln dlrs
the a exercise period runs from may 7 1987 to august 6 1987
production at trail and kimberley has been shut down since the strike began may 9 and cominco has had to declare force majeure which means the company may be unable to honor contracts for products from the smelter and mine
shr 43 cts vs 37 cts net 2276000 vs 1674000 revs 326 mln vs 244 mln year shr 90 cts vs 69 cts net 4508000 vs 3096000 revs 1010 mln vs 769 mln avg shrs 5029000 vs 4464000 note 1986 fiscal year ended feb 1 1986
us first time jobless claims rose in week
west german bundesbank president karl otto poehl encouraged the us not to cut interest rates in january when the bundesbank cut its own rates by half a point to avoid weakening the dollar
the proposed deals would have also included a standstill agreement which would have restricted sosnoffs right to buy more caesars world stock or to take any action adverse to incumbent management he said
i would say that what has happened to the yen in the past several weeks was not outside the range we agreed to in the discussions in paris miyazawa told a press conference following the group of seven meeting here
security pacific spc buys orbanco orbn 
chile and mexico are currently front runners in this field but most latin american officials see these schemes as limited and no panacea for the overall problem
the smoothed seasonally adjusted series shows a surplus on merchandise trade of 145 mln dlrs against 135 mln dlrs in march and 30 mln dlrs in april 1986
stricter definitions here also mean the use of a version of the us uk proposals could far exceed the intent of the us and british authorities the sources said
the issue which matures on may 7 1990 has a 14 1 2 pct coupon and is priced at 101 3 8 pct
it will choose loans based on ultimate loss rather than their immediate effect on non performing loans
chronar said it will receive 75 mln dlrs for supplying equipment and technology and will invest 25 mln dlrs for its 40 pct stake
speculation about a bid for norcros had been circulating in the market for several months dealers said
azpurua said that among the details still to be finalised were the exact timetable for reprogrammed payments and the outlines of a government plan to allow public and private sector debt capitalisation
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
scurry rainbow oil ltd 1st qtr dec 31 net
national australia bank lowers benchmark prime
their main aim was to prepare the ground for the annual ministerial meeting of cipec which is scheduled for zaire in late september
in testimony before a senate banking subcommittee volcker said he does not have any specific proposals for improving exchange rate stability but thought it was worthy goal
the companys aviation division consists of its majority stake in cathay pacific airways ltd and its 25 pct interest in hongkong aircraft engineering co ltd which is also 25 pct owned by cathay
banks must repurchase securities pledged on may 6
ia so minn direct hogs estimated rcpts 95000 vs actual week ago 93000 and actual year ago 93000
qtly div 26 cts vs 26 cts prior pay april 30 record april 10
for its summer 1987 programme it would be adding 127 extra flights to european destinations an increase of 27 pct
french sugar group beghin say which is 496 pct owned by italys gruppo ferruzzi is to raise its capital to 703 mln francs from 527 mln through a three for one issue of shares and investment certificates to finance expansion president jean marc vernes told analysts
operating income of its telephone operations which account for 91 pct of the total rose eight pct to 7360 mln dlrs
finland had a 641 mln markka trade surplus in february following an 80 mln markka surplus in january and a 614 mln surplus in february 1986 customs board preliminary figures showed
williams said it held a total 850000 shares in norcros or 07 pct while an associate held a further 199 mln or 16 pct
gaf corp chairman samuel heyman told he did not foresee major changes in borg warner bor if gafs 46 dlr per share offer to acquire borg warner is successful
trinova corp tnv 3rd qtr net
the union representative said that the pact offered cost of living increases designed to keep pace with inflation but contained no wage increase
the government will announce its decision on friday when it unveils the countrys budget
year ago oper includes charges of 278 mln resulting from allocation of the purchase price of revlons businesses to inventory and 71 mln for restructuring costs
we intend to provide a means through which less privileged individuals can become part owners and beneficiaries from the development of mining and petroleum projects he told parliament
two large container cranes donated by the danish international development agency danida have arrived in dar es salaam where they will help to increase the ports cargo handling capacity port officials said
the new association is to be known as victor savings and loan association and its assets continue to be insured by the federal savings and loan insurance corp the fhlbb said
despite ec dairy restrictions wessanen which produces around 10 pct of all dutch cheese saw good growth prospects for its dairy sector within europe van driel said
united states lines lays off far east staff
transworld corp liquidating trust said it expects to make an initial distribution to beneficiaries valued at 2010 dlrs per unit from the proceeds of the sale of hilton international co
i dont think march will be as strong because easter falls in april this year said morgan stanley analyst walter loeb
turkey pulled warships back from close escort of its sismik 1 survey ship as the threat of conflict with greece over oil rights in the aegean sea abated
morgan said other operating income mainly fees and commissions rose to 1022 mln dlrs from 884 mln but net investment securities gains dropped to 431 mln from 581 mln
in 1986 the mine produced 10600 ounces
tass commentator mikhail krutikhin said the administration had embarked on an adventurist path in order to deflect attention from the scandal in which the united states sold arms to iran and the profits were diverted to nicaraguan rebels
shore noted that according to the 1986 agreement revlon gets paid if there is any acquisition of gillette through november of this year at a price higher than 2975 dlrs per share
its hard to see that anything will be passed much before year end
french government names advisers for soc gen share sale
fumio watanabe a senior keidanren a leading business organization official who has been trying to arrange the merger will present a new outline of his proposal on thursday the ministry official said
the signup period of the 1987 feedgrains program officially ends at the close of the business day on march 30
but african countries should not be the ones to ask for large scale debt write offs he said
debt talks between the philippine government and its bank advisory committee were delicately poised after a brief meeting between the two sides today bankers and sources close to the philippine delegation said
as the dollar today slipped to a record low below 145 yen making japanese exporters and holders of dollar investments grit their teeth harder finance minister kiichi miyazawa said there was a perception japan had reneged on its promise
however silver was less likely to continue to outpace the other metals by such a margin montagu said
year net includes pension gain 3455000 dlrs vs charge 5502000 dlrs due to change in pension accounting
tesco is making an opposed 151 mln stg bid for hillards
statoil hired by ptt to carry out an independent appraisal of the fields reserves and propose a development plan has estimated the field could be commercially developed at a cost of some 700 mln crowns
harmon hrmn to buy recycling firm for cash
australian wheat plantings are forecast to fall to 1040 mln hectares in 1987 88 from 1172 mln sown in 1986 87 australian wheat forecasters pty ltd awf said in its first preliminary crop forecast
in the first a 285 pct dividend was set on the stock with a strike price of 190 dlrs that represented a 15 pct premium over the common stock price when terms were set
shr loss 51 cts vs loss 44 cts net loss 18 mln vs loss 15 mln revs 31 vs 54 mln nine months shr loss 116 dlrs vs loss 133 dlrs net loss 40 mln vs loss 46 mln revs 99 mln vs 123 mln
calny inc rejects pepsico inc acquisition offer
apea has said it is not a true profit based tax because exploration deductibility is limited to successful projects
comptek research inc cmtko 4th qtr march 31
a finance ministry official said the ministry has recently conducted a survey on foreign exchange transactions by institutional investors but declined to say if it was aimed at moderating their dollar sales
statoil estimates the fields total development cost including drilling at 66 billion crowns
canada seeks five year farm reform plan
pesch who led the leveraged buyout of republic health corp last year continues to face a credibilty problem on wall street because of the long time it took to finish the republic acquisition
oecd january annual inflation steady at 21 pct
the administration feels that the current course of monetary policy is appropriate white house spokesman marlin fitwater said
the non callable bond is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
over 10 pct of the total available shares has been reserved for staff
they hope that once tempers cool the philippines will also accept that reopening an agreement that took 4 1 2 tough months to negotiate will be more trouble than it is worth
the losses were even greater than the 480 mln marks announced recently by volkswagen as a result of fraud in currency transactions
utilicorp ucu completes acquisition
asked what he thought etls bid sought to achieve herbert said im puzzled as to what hawkins strategy is
telephone support systems inc tssi 3rd qtr
mcadoo raised his 1987 estimate to 750 dlrs a share from five dlrs and maintained a buy recommendation on the stock metz said
the government feels that the pact through its buffer stock mechanism can help stabilise prices in a market which is labouring under surpluses officials said
it said closing is expected within 45 days after receipt of regulatory approvals
mobil mob has north sea natural gas find
we are quite confident japan will make an increasing investment in development because of their willingness to support institutions like ours in increasing ways with each passing year he said
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
lau denied any link between china entertainment and lai sun on their acquisitions of the hk hotels stake
central bank and other government officials were not available to comment on the report
amstutz says farm trade accord possible in 1988
the us expansion plans were not an attempt to compensate for losses in guilder income through the lower dollar loudon said
maxwell would not renew bid if suit fails
as long as those price rises do not become entrenched in cost of living adjustments contained in labor contracts thus reducing international competitiveness then the federal reserve would probably be willing to tolerate four pct inflation said larry leuzzi of sg warburg and co inc
the army newspaper quan doi nhan dan monitored here said soldiers must work harder to care for rice vegetables and other crops endangered by the present unusually hot weather
they will be a flexible supplement to negotiated deposits and will give companies and institutional investors better chances to organise liquidity the statement said
the company said it is raising its stretch film prices by six pct as of april 15 to reflect the higher costs of polyethelene resin
ida grants sri lanka 186 mln dlr credit
as speculators detected the presence of the us and british central banks they acclerated their shift into canadian and australian dollars
gonzalez also disclosed that banks will have the choice of lending up to one mln dlrs in the form of a bearer bond
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
overland express inc over year loss
banco di roma london branch has arranged a 200 mln dlr euro certificate of deposit program swiss bank corporation international ltd said as sole dealer
regency cruists ship corrects earnings
deficiency payments are calculated as the difference between an established target price and the higher of the basic loan rate or the national average price received by farmers during the first five months of the marketing year september january
jamaica has been authorized to purchase about 56000 tonnes of us wheat under an existing pl 480 agreement the us agriculture department said
crazy eddie said the new amendments limit future amendments to the plan modify the definition of continuing directors and permit amendment or termination of the plan with the consent of the companys shareholders if there are no continuing directors in office or the approval of at least three such directors cannot be obtained
the other issue was a 100 mln dlr deal also due 1992 for nv nederlandse gasunie paying 7 1 4 pct and priced at 101 1 8 pct with citicorp investment bank ltd as lead manager
he noted growth in the money supply slowed after mid january
the following proposed securities offerings were filed recently with the securities and exchange commission ramada inc ram offering of 100 mln dlrs of subordinated notes due 1999 through salomon brothers inc
another ship is loading 17000 tonnes of colza for the soviet union
the rise in third quarter minerals net to 957 mln dlrs from 815 mln a year earlier largely reflected the increase in ownership of the mt newman iron ore project it said
ma hanna said the purchase which is subject to certain conditions is scheduled to close around the end of october
franco nevada said american barrick announced on march nine that the drilling indicated a number of significant intersections of sulfide gold mineralization below a depth of about 1000 feet
monsanto mtc invests in biotechnology biod 
us sprint the 50 50 telephone venture of gte corp gte and united telecommunications inc ut set up last june is optimistic despite expecting to report a net loss of about 500 mln dlrs this year
canadian bashaw erskine resources to merge
us commerce depts ortner says yen is 10 or 15 pct undervalued
the banks are said to be firm on the 1 1 8 points offered when the last round of negotiations collapsed on november 7
kingdom of sweden is issuing a 100 mln stg bond due april 15 1997 carrying a coupon of 9 1 2 pct and priced at 101 1 4 said baring brothers and co ltd as lead manager
shr 14 cts vs nine cts net 1180000 vs 640000 revs 256 mln vs 201 mln six mths shr 26 cts vs 12 cts net 2103000 vs 853000 revs 448 mln vs 330 mln
colombias coffee export revenue dropped 97 mln dlrs to 2336 mln dlrs for the first two months of the year against 3309 mln dlrs in the similar period of 1986 central bank preliminary figures show
southeast bancorp stb acts on brazilian debt
exxons earnings from exploration and production in 1986 fell to 31 billion dlrs from 49 billion dlrs in 1985
dollar opens at tokyo record low of 14375 yen
the dutch central bank announced new 12 day special advances at an unchanged rate of 53 pct to cover money market tightness for the period april 3 to 15
but some analysts said that refiners may have held refinery runs
the decree named the head of the iraqi national oil company inoc isam abdul rahim al chalaby to take over as oil minister replacing qassem ahmed taqi
the spokesman said the chancellor had emphasised in talks this morning with funaro the need for the brazilian authorities to be able to present a convincing economic program to the countrys creditors
in a letter to shareholders bilfinger und berger said foreign construction work fell to 137 billion marks in 1986 from 210 billion the year before
but they acknowledged that caracas which was also told that the mexico spread was inviolate is quite likely to demand a lower spread
agf management ltd six mths may 31 net
this he said would further bolster national security in case of an oil supply disruption
delta group dltll year to jan 3
economics minister martin bangemann said the state could not continue to pour money into west germanys ailing steel and coal industries because the subsidies endangered other parts of the economy
reached later an inland steel industries inc iad spokesman said the company was studying the pricing move
jayark corp jaya 3rd qtr ends jan 31 loss
ef hutton groups ef hutton lbo inc unit said it extended the expiration date for its 35 dlr per share tender offer for purolator courier corp to midnight est april six from midnight april one
french controlled schlumberger said yesterday it was ending the agreement because mounting political controversy in the us made it unlikely that the sale of the fairchild stake could be completed in a reasonable time
the dollars recent signs of stability have raised hopes that its 27 month decline may be nearly over but most currency analysts refuse to commit themselves until after the june 12 release of us trade data for april
ministers also called on the ec commission to prepare a report on us japanese trade for july this year to enable them to take appropriate action where necessary
the measure comes one week after the central bank raised reserve requirements on domestic deposits by one percentage point to 19 pct also with effect on friday
whether you agreed with him or not he has a superb grasp of ideas certainly not all bankers did agree all the time with volcker
finance minister kiichi miyazawa told a press conference he thinks exchange rates will remain stable due to the currency accord reached in paris last month by six major industrialised nations but he did not say for how long
us roastings of green coffee in the week ended april 4 were about 275000 60 kilo bags including that used for soluble production compared with 215000 bags in the corresponding week of last year and about 320000 bags in the week ended march 28 george gordon paton and co inc reported
cts directors will recommend to shareholders that they approve reimbursement to dca of about 22 mln dlrs in expenses relating to cts and grant dca an option to buy up to 35 pct of cts shares it said
bankers oppose strict taiwan currency controls
shr two cts vs eight cts net 73000 vs 233000 revs 210 mln vs 9510000 avg shrs 3620000 vs 2886000 year shr 66 cts vs 37 cts net 2246000 vs 1064000 revs 683 mln vs 408 mln avg shrs 3392000 vs 2886000 note 1985 year net includes extraordinary gain one ct shr and gain two cts from cumulative effect of accounting change
assuming the company was valued at around eight times earnings this would give a selling price valuing it at about 12 billion though he said the recent good performance of the aerospace sector could nudge this figure upwards
following last weeks committee meeting the uk ministry of agriculture said the commission had given an assurance that additional quantities of intervention wheat would be made available in may and june
datacopy corp dcpyo 3rd qtr net
it also said it will begin an immediate cost reduction program to cust annual operating expenses by 50 mln dlrs
the survey conducted in february was based on questionnaires returned by 8328 large and small firms in all sectors except the finance and insurance industries
ual will pay 6325 mln dlrs cash 2564000 shares of ual common stock and 200 mln dlrs worth of ual debentures to transworld but it may substitute cash for the securities
he said no date has been set for the meeting and declined to comment on published reports in the past few months that banks may demand accelerated repayments
the conventional wisdom among grain trade representatives here is that a general warming of relations between the two countries since last summer combined with continued hard times in the us grain belt would favor a subsidy offer
credit fonciers 150 mln european currency units ecus of 7 5 8 pct eurobonds due 1994
they expected a maximum rebate of between 4640 and 4650 ecus per 100 kilos compared to last weeks 46864
talks at the extended special meeting of the international coffee organization ico on the reintroduction of export quotas continued but chances of success were still almost impossible to gauge delegates said
a rise in note circulation will take out a further 105 mln stg
marshall industries mi 3rd qtr feb 28 net
this acquisition includes all of livingwells rights to its recently announced powercise fitness equipment
commission officials did not rule out retaliatory measures if after a gatt decision against it washington failed to bring the disputed section into line with international rules
the march figure was revised from 69 mln dlrs
it recorded extraordinary gains of 138 billion dlrs which mainly derived from the sale in april of a 1575 pct stake in cathay pacific airways ltd caphhkg in line with the floatation of the airline
februarys production figure fell slightly short of ypfs target figure of 290 mln cubic metres
ibps latest offer included wage cuts of 60 cents an hour for slaughter operations and a 45 cents an hour cut in pay for processing workers
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
the bill now goes to the house
the company said the transaction will yield about two mln dlrs in cash huron sells leases and services computer hardware
ongpin said manilas 7 8 margin meant the philippines would pay about 100 mln dlrs a year in interest when its grace period ended
under the agreement for which the signing began on friday commercial banks are being asked to contribute 129 pct of their exposure to mexico as of august 1982
the closing was delayed because that decision was appealed by four parties to the us court of appeals gencorp explained
it will use the proceeds from the offering and a 550 mln dlr private placement of first mortgage notes for the purchase
the panel also voted to apply to lamb imports the same countercyclical import quota law which is operating for us beef imports
oreffice also said dows profit margins on chemical products would improve this year over last year
the three privately owned centers had aggregate revenues of 474000 dlrs in 1986 with profits of six thousand dlrs the company said
the louvre accord on currency stability which has maintained an uneasy calm in currency markets since last february appeared in serious danger today as a transatlantic dispute over west german interest rates came to the boil foreign exchange dealers said
total deposits rose to 1755 billion nz dlrs in february compared with 1718 billion in january and 1361 billion in february 1986
soybean cake meal thousand short tons stocks sept 30 1987 at 270 vs 315 last month
general electric credit corp delivered a commitment letter arranged by the gecc capital markets group inc for the financing
zaire and imf in economic rescue talks
us forces destroyed oil rig raided another
following the companys fiscal year ended march 31 1985 it changed to a calender year end
sharon steel corp said it extended to april 30 the expiration date of the offers to exchange its outstanding 135 pct subordinated sinking fund debentures due 2000 and outstanding 1425 pct subordinated sinking fund debentures due 1999
woodside says loss reflects lower oil prices
banking sources quoted federation chairman yoshiro araki as saying he hoped the market would be created as soon as possible because it would help promote the liberalisation of japans financial markets
rowntree mackintosh plc is seeking a 200 mln stg five year multiple option facility of which 150 mln stg will be committed and a 200 mln stg commercial paper program county natwest capital markets ltd said as arranger
brazils debt would increase in dollar terms but remain constant in real terms
top discount rate at uk bill tender rises to 95261 pct
pentair inc said it began a public offering of two mln shares of 150 dlr cumulative preferred stock priced at 25 dlrs per share
at 83 pct last year the rate was way above that of spains major trading partners in the european community which it joined a year ago
zehntel inc said it filed a registration statement with the securities and exchange commission covering a proposed public offering of 135 mln dlrs principal amount of convertible subordinated debentures
houston metals mine yields positive results
giorgios boutique in beverly hills calif will be sold back to fred hayman one of the shareholders who will continue to operate it independently avon said
it means they have to be convinced that the government prioritises the program he said the world bank had financed developmental costs under an earlier land reform program launched by former president ferdinand marcos in 1972 and such aid had been channelled through the land bank of the philippines lbp the lbp is the main implementing agency under aquinos program
no one doubts the bank of japan is serious
it said the additional shares will be distributed june five record may 21
di giorgio corp said it plans to respond to an unsolicited recapitalization plan proposed by gabelli and co inc after the company its board and its investment bankers evaluate the proposal
the company also said qintex ltd a 35 pct owner of hal roach common stock has agreed to use the company as the exclusive vehicle for its us media and entertainment investments the company said
moreover it could help stabilize of the prices of commodities themselves slowing changes in inflation
todays announcement follows saturdays removal of import curbs on 170 products
british sugar has a and b quotas totalling 1144 mln tonnes of whites and its c output is due to improved yields from more consistent disease resistant seed types
the increase will be to cover potential write downs of certain inventories or products used in compact disc stereo systems
in fiscal 1986 ended november 30 1986 hartmarx reported earnings of 248 mln dlrs or 120 dlrs a share down from the prior years 427 mln dlrs or 225 dlrs a share
calmon estimated stocks as of january 1 at 18 mln bags of which 50 mln have already been sold for export
1987 extraordinary item of 701 mln dlrs relates to award from iran us claims tribunal from irans seizure of sedco inc drilling business in 1979 prior to its acquisition by schlumberger
suddenly support levels which had existed for fear of central bank intervention disappeared one dealer said
dart group corp was not immediately available for comment
houston said the requirement would be phased in over several years to avoid disruptions and economic hardship
seal inc sinc 1st qtr jan 31 net
report due on oil imports and national security
british gas plc brgsl said it repaid 750 mln stg debt to the government the first tranche of 25 billion stg unsecured debentures issued as part of the process of privatisation last year
stoltenberg does not rule out intervention
the 900 mln dlrs of seven year notes were priced late yesterday by sole manager drexel burnham lambert inc
nl industries inc nl sets qtrly payout
amalgamated metal trading amt today lodged an appeal against the ruling which prevented its petition to wind up the international tin council itc
moodys investors service inc said it may downgrade the debt ratings of gaf corp because of its 31 billion dlr acquisition offer for borg warner corp
gencorp has made no comment on the offer
texas air tex unit sells equipment backed debt
we are not interested in confrontation but we would like the loan mechanisms to show that the crisis belongs to both sides funaro said
but as economic conditions had changed he said consumers had been led to make proposals for improving its functioning
champions suit claims that various champion investors alligned themselves with cormier and navon who failed to disclose properly under federal laws that they were acting in concert and they intended to spin off parts of the company and sell the balance within two years once they got control
he gave no precise sum
mosts analysts expect a modest draw for the week ended march 27
it said the proposal is subject to approval by commercial security shareholders and various regulators
florida progress corp fpc 1st qtr net
the office and technical workers last negotiated may 21
a further 35 pct fall in the terms of trade in the quarter underscored the need to continue restraint in wages prices and public sector spending and borrowing to improve australias competitiveness he said
few new wells now are being drilled
he said the company is a major shareholder of ebi foods ltd a united kingdom blender and has licensing arrangements in australia canada brazil and japan
rothmans denies share sale speculation
artistic greetings inc said it expects a rebound in profits and an increase in sales in 1987 as costs connected with computerization staffing traning and catalog sales start to taper off
bergsten predicted the us trade deficit which hit 169 billion dlrs last year will fall 30 40 billion dlrs a year for the next two years as a result of the dollars 35 40 pct decline since september 1985
nestles nominal capital amounts to 330 mln swiss francs
but he warned that his conciliatory message on the trade bill did not mean he would oppose a proposal that would warn other countries their access to the american market would be curtailed unless they opened their markets to us goods
when nymex announced its proposed rule change in december nymex president rosemary mcfadden said expansion of the efp provision will add to globalization of the energy markets by providing for in effect 24 hour trading the commodity futures trading commission approved the rule change in february according to a cftc spokeswoman
the fed took no market reserve management action last thursday and friday the first two days of the week
the company said the talks began after it considred and rejected waste management incs wmx 27 dlr per share tender offer for all its sharesd
qtly div 13 1 2 cts vs 12 1 2 cts prior qtr pay 12 june record 21 may
but at least we are still talking a union spokesman said
cornglutenfeed usage fell 178 pct to 729000 tonnes from 887000 but cornfeedmeal usage nearly doubled to 399000 tonnes from 201000
gencorp gy 1st qtr feb 28 net
ivorian agriculture minister denis bra kanon chairman of the icco council was now expected to arrive in london monday to attend the talks baron said
extra competition could cut management fees in the mark sector
the central bank president said he will be going next week to washington to take part in a meeting of the inter american development bank in brasilia sources linked to the presidency said brazil was preparing a new program of economic readjustment to strengthen its negotiations on its 109 billion dlr foreign debt
the rights will expire april nine
qtr ended april four shr profit eight cts vs loss 22 cts net profit 341000 vs loss 903000 revs 584 mln vs 463 mln six mths shr profit 35 cts vs loss 19 cts net profit 1466000 vs loss 767000 revs 1214 ln vs 959 mln
showboat inc said its board declared a two for one stock split payable to shareholders of record on may 15
provision for loan losses in the third quarter was 20 mln dlrs versis 40 mln a year previously
malaysian and indonesian palm oil production is likely to drop sharply this year due to lower yields the hamburg based newsletter oil world said
ericsson said intelsa which controls about 40 pct of the spanish telephone switch market has 2400 employees and annual sales of 800 mln crowns or 117 mln dlrs
donald trump said he has agreed to purchase crosby estates resorts shares
in its action standard and poors cited the exposure to major latin american debtor countries of chase manhattan corp cmb chemical new york corp chl irving bank corp v and manufacturers hanover corp mhc the rating agency also downgraded mellon financial corp mel and security pacific corp spc but said this reflected higher non performing assets and weaker operating results rather than the international debt problem
the bond is in partly paid form with 25 pct due on april 15 and the remainder on july 15
pcgg sources said smc the philippines largest food and beverage manufacturer has agreed to sell 14 mln b class shares from the 381 mln shares to australian brewer alan bond at a price of 150 pesos per share
fees comprise 1 1 4 pct selling concession and 3 8 pct each for management and underwriting
it said china central tv will use cnn reports during its daily newscasts on two channels reaching an audience of about 300 mln viewers
libra bank expects brazil to reach debt accord london march 5 london based libra bank plc said when announcing its 1986 annual results that it expected brazil to reach agreement with its creditors over debt repayments
pursuant to the exchange offer each 1000 dlr principal amount will receive 500 dlr principal amount of senior subordinated notes due march 1 1992 200 dlr principal amount of non interest bearing convertible senior subordainted notes due march 1 1997 and 12 shares of delayed convertible preferred stock liquidation preference 25 dlrs per share
ec commission details sugar tender
regency electronics inc rgcyo 1st qtr net
theres a lot of reluctance by the other banks
k mart corp km 4th qtr jan 28 net
the company said revenues for full year 1987 it will exceed 14 billion dlrs net earnings will increase more than 30 pct while per share earnings should increase 12 to 18 pct
n d resources inc said it agreed in principle to issue an undetermined number of shares to recovery resources corp bahrain in order to acquire recoverys atoka gas gathering systems inc
they said that it was an open secret that japans largest chip maker nec corp was not happy with what it viewed as the draconian measures miti was taking to implement the pact included enforced production cuts
if you can tell me how we can get the international energy price up and how we can get the price for copper up and how we can get the price for wheat up then we will listen wilson told the house of comnons finance committee
manufacturers hanover raises prime rate to 7 3 4 pct from 7 1 2 effective today
last year italy ranked as one of the oecds fastest growing economies with gross domestic product gdp growth at 27 pct
it said consumption by industrialised countries should stay at 160000 tonnes and that international tin council creditors and brokers are not likely to dump their stocks excessively unless there is a large and abrupt price jump
the government will export 600000 bales of long and extra long staple cotton in the three years from 1986 87 he said
soybean oil sales of 5400 tonnes were the result of increases for venezuela and reductions of 500 tonnes for unknown destinations
since april 27 members of the brookehill group made net purchases of 6000 cardis common shares at approximately 4 dlrs a share
us senate team wants multinational gulf force
dutch parliamentary parties have re affirmed their support for the governments opposition to the proposed european community tax on oils and fats parliamentarians said
the five institutes had jointly forecast three pct 1987 growth in october last year
over 80 pct of shipments some 35000 tonnes a month are sent by rail to the tanzanian port of dar es salaam while 5000 tonnes go via zimbabwe to the mozambique port of beira
london on rise as trading centre in us debt
renaissance energy ltd year net
neco npt postpones annual meeting
the group said it had held discussions with third parties to gauge their interest in joining the shareholder group but no agreements were reached
in contrast the bank of america deal was the first public offering of credit card receivables because we used a grantor trust vehicle he said
foreign brokers get more access to japanese bonds
us feb industrial production rose 05 pct
the king replied saudi arabia doesnt decide prices by itself but certainly desires price stability non opec countries must help us in a framework of common interest so that there is no type of competition which could prove harmful to everyone he said
we also announce today that these missiles are not the limit of our war capabilities in the gulf he added
caremark acquisition reduced 1987 nine months net by five cts offset by a three ct gain from the sale of securities
thrift industry sources said they do not see a major near term impact on the southern california thrift market but do expect citicorp to be a more aggressive competitor than sears was in that market
cattle slaughter is guesstimated at about 125000 to 131000 head versus 129000 week ago and 119000 a year ago
fumio watanabe head of a telecommunications committee with the federation of economic organisations keidanren told a news conference japanese shareholders in the two consortiums agreed that the us and british companies will be invited to participate in the new merged firm
southern union co said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr offering of 10 year notes and a same sized issue of 30 year debentures
southdown sdw debt downgraded by moodys
bundesbank figures showed banks held an average daily 507 billion marks in minimum reserves at the central bank over the first 30 days of march the exact requirement needed just one day before the end of the month
cocoa buffer stock may face uphill battle trade
we wont be reacting further until these discussions with the high commissioner and the prime minister have been held palmer said
sweet victory inc svic year
quest also said its signed a merger agreement with hunt research corp and its affiliate icas corp quest said it expects to complete the merger within the next several weeks
la roche of north kingstown ri said he is offering to purchase 170000 common shares of neco enterprises inc at 26 dlrs each
bell petroleum bpsio regal to form plan
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
there is a possibility that the dollar may decline to around 14000 yen by the end of this year said chemical bank tokyo branch vice president yukuo takahashi
under the scheme debtors are able to buy dollars at the preferential 750 bolivars rate but must also pay a premium
three factors had caused the higher level in relative interest rates in britain lawson said
another speculated that lindner might bid but he speculated the investor would not really be interested in running the company
mercantile stores co inc mst 4th qtr net
the opec member has a production quota of 210000 bpd but has asked the organization to allow it to produce 310000 bpd once the repairs are completed so as to compensate the loss
the myra falls complex processed 3257 tons of ore a day during 1986
first the usda said its announcement should not have said that plywood was excluded from the additional three mln dlrs in gsm 102 credit guarantees for lumber
craftmatic contour crcc sees higher profits
crosby said however he expects the company to report higher first quarter 1987 revenues than the 1986 first quarter revenues of 118 mln dlrs
prospects for world economic growth remain very sluggish and coordinated action by western governments is urgently needed to restore business confidence stabilize currencies and encourage investment the organization for economic cooperation and development oecd said here
after the markets closed the dollar fell to 144 yen
this would compare with a 1986 surplus of 95 billion dlrs
getty petroleum corp said its board declared a five pct stock dividend payable on april 21 to shareholders of record april 10
dupont dd unit raises crude oil prices
house 0 92 farm plan markup delayed till tuesday
asarco ar offers 35 mln shares common stock
in caracas president jaime lusinchi said venezuela would loan five mln barrels of crude to ecuador over the next three months to make up for losses from damage to the pipeline
western bankers say the forint is more realistically valued than currencies of hungarys comecon allies
the us trade act of 1974 says that to qualify for gsp china must be a member of the general agreement of tariffs and trade gatt for which it applied in july 1986 and not be dominated or controlled by international communism the official said china was well aware of the laws some of which date to the anti communist early 1950s but that there is not sufficient political will in the us to change them
the governments economic planning agency said last week the economy grew at 25 pct in 1986 the worst performance since 1974 when the economy shrank 14 pct due to the first oil price crisis
the dot added however that twa was free to refile when it could put together an application for control that met the agencys procedural requirements
verac had 1986 sales of about 23 mln dlrs
venezuela approved plans to start negotiating foreign bond issues up to 400 mln dlrs in the dollar deutschmark and yen markets finance minister manuel azpurua said after an economic cabinet meeting
the credit will mature in june 1995
all major grain producing countries must do their part to help reduce global surpluses and the recent australian farm policy proposals are flawed two us wheat organizations said
the preferred shares were immediately retracted for cash the company said
the government has pledged to privatise 66 state owned industrial banking and insurance companies by 1991
dart seeks supermarkets sgl negotiations
canada plans two bond auctions
medar inc said it changed the end of its fiscal year to december 31 from march 31
the buffer stock manager of the international cocoa organization icco will tender for about 3000 tonnes of cocoa beans wednesday june 3 the icco said in a statement
the soviet union supports the freedom of navigation in the gulf and does not support any act which would cause the deterioration of the situation in the region its ambassador to kuwait ernest zverev told the kuwaiti news agency kuna
under current law producers must plant at least 50 pct of their base acreage to be eligible for 92 pct of their deficiency payments
shr 84 cts vs 86 cts net 3893000 vs 4054000 revs 210 mln vs 212 mln nine mths shr 188 dlrs vs 187 dlrs net 8707000 vs 8848000 revs 579 mln vs 591 mln note 1986 per share adjusted for three for two stock split effective june 1 1987
grand mets heublein to close almadine winery
cominco and lornex share equally in control and management of the highland valley operations while cominco has a 55 pct share of production and lornex receives 45 pct
doskocil dosk shareholders vote reverse split
it said the restructuring as a partnership has substantially increased the cash available for distribution to unitholders as it had predicted
current prices are not enough to justify increased drilling said ed malmgreen of the california independent producers association
philadelphia exchange to extend hours for asia
one month deposits rose to 6 1 2 3 8 pct from 6 1 4 six and three month deposits climbed to 6 3 4 5 8 pct from 6 9 16 7 16
sayads resignation might foreshadow other changes in the brazilian cabinet
standard federal bank said it introduced a zero point fixed rate mortgage loan
shr one ct vs 24 cts net 43000 vs 1032000 revs 10 mln vs 49 mln avg shrs 37 mln vs 43 mln 12 mths shr 102 dlrs vs 162 dlrs net 3950000 vs 7308000 revs 308 mln vs 333 mln avg shrs 39 mln vs 45 mln note 1985 restated to reflect tax loss carryforwards
dauster says consumers should keep out of quotas
he said such an increase would raise capital from around 655 billion dlrs to 1966 billion dlrs adding he was hopeful the proposal would be adopted at the annual meetings of the bank and fund due to be held jointly in cairo in june
the company named kidder peabody and co inc as lead underwriter of the offering
the 315695 dwt arabian sea had set sail on tuesday after loading oil at the saudi port of ras tannurah
the frn market has been suffering from acute contraction of liquidity and consequent drain of investor confidence since the effective collapse in the market for perpetual floating rate issues late last year
but the french banks plan which would effectively postpone repayment of about 30 mln dlrs of the loan for several months is running into stiff resistance from many of the 52 members of the loan syndicate
qtr ended jan 31 shr one ct vs nine cts net 29000 vs 349000 revs 7892000 vs 4721000 note nine mth data unavailable
despite the figures the budget forecast of about 175 pct annual growth in employment would be met keating said
leader ldco buys petrosurance stake
inspiration irc in canadian gold find
premdor inc 4th qtr net
the six nations of the gulf cooperation council saudi arabia kuwait bahrain oman qatar and the united arab emirates have held a series of meetings this year to examine linking their currencies to a single peg in a system which bankers say could be modelled on the european monetary system ems at present five currencies are linked either officially or in practice to the us dollar while the kuwaiti dinar is pegged to a trade weighted basket of currencies
according to central bank forecasts inflation will reach an annual 10 pct rate versus up to 20000 pct in 1985
micropolis mlis sells convertible debentures
the iso executive committee next meets on april 23 with the next full council session in the week of may 19
german 22 pct growth average seen to 1991
general partners officials were not immediately available
us bank discount borrowings average 148 mln dlrs a day in march 11 week fed says
dart group darta is likely seeking to buy supermarkets general sgl analysts said
an easier monetary policy would not mean a loss of credibility for the bundesbank in its containment of monetary growth
philip morris mo oscar mayer sets redemption
shortly after the tokyo market opened today the bank of japan was detected by local dealers buying moderate amounts of dollars
this issue equals in size a record one by toyota motor corp last december
oper shr profit 21 cts vs loss 55 cts oper net profit 1528000 vs loss 3296000 sales 3294 mln vs 3680 mln 1st half oper shr profit 28 cts vs loss 455 dlrs oper net profit 2026000 vs loss 273 mln sales 6913 mln vs 7382 mln note prior half net includes pretax charge 214 mln dlrs from plant closings and workforce reductions
united presidential corp upco 4th qtr net
as i forecast in the autumn statement inflation may continue to edge up for a time perhaps exceeding 45 pct by the summer before falling back to 40 pct by the end of the year he added
the labour party government removed exchange controls and floated the dollar two years ago when it was worth 44 cents
the board said it offered 35000 bags and sold 32876
moreover some of the contraction in m 2 can probably be explained by a shift of funds from savings vehicles into the booming stock market and is thus not an indication of a slowdown in the business expansion
amocos first south china sea exploratory well flows 2240 barrels of oil daily
other field participants include canterra energy ltd mobil oil canada ltd gulf canada resources inc icg resources ltd trillium exploration corp and general partnership parex
rpt argentine grain oilseed export prices adjusted
payment is due april 21
lincoln national corp lnc sets quarterly
nitto boseki co ltd of tokyo is launching a 60 mln swiss franc 4 7 8 pct bond due april 27 1995 at 100 1 4 pct lead manager union bank of switzerland said
trans canada glass ltd 4th qtr loss
amendments involved the banks proposed treatment of exposures by financial institutions acting as banker to other units of their own group of companies the paper showed
the payment date is may 13
one trader said permanent damage to export prospects can be avoided if an agreemend can be reached soon but the situation will become more serious as time passes
reagan said his administration has already proposed deregulating natural gas and eliminating the windfall profits tax on crude oil production
according to the feds trade weighted index it had declined nine pct since the beginning of the period
oper shr profit one ct vs loss six cts oper net profit 148628 vs loss 249192 revs 3772639 vs 1101633 avg shrs 5235233 vs 4371795 year oper shr loss 10 cts vs loss 19 cts oper net profit 5760 vs loss 788042 revs 9899038 vs 3819678 avg shrs 4837361 vs 4163006 note share after poreferred dividends
they will be determined
sources close to finance minister edouard balladur said the revenues raised from the privatisation program would be used in priority to pay off public debt which stood at 3982 billion at the end of 1986
soviet 1988 oil output target at 625 mln tonnes
mexican officials and representatives of about 360 creditor banks worldwide started to sign agreements for 77 billion dlrs in new loans citibank said as co chairman of mexicos bank advisory committee
italys ferruzzi takes over spanish mill
proceeds will be added to general funds and used to finance capital expenditures in 1987 the company said
cake sales were registered at 785 to 995 dlrs for march april 785 dlrs for may 753 dlrs for aug and 039 times new york dec for oct dec
petroleum operations are to be carried out by pertamina as operator through a joint operating body established by the two companies the pertamina spokesman stated
the company said exact terms of the deal have not been determined but that it does not expect the acquisition to have a material effect on its financial position
the first domino is you have an investor with a considerable stake
it said his appointment is effective july 2
the utility said the share of its interest in the 1205 megawatt generating plant was sold to a group of institutional investors which leased it back to the company for a period of about 29 years at a negotiated lease payment rate
year current and prior excludes loss 1543000 and 2859000 respectively for estimated loss on disposal of hcl leasing corp
atlantis international ltd year loss
if these succeed activity could build the specialists said
in february 1986 m a coms former chairman president and chief executive richard dibona suffered a stroke
evans sutherland escc files for debt offering
say said proceeds from the sale would be used to increase the companys market share in automotive products packaging and diversify its packaging capabilities
the spokesman declined however to disclose the price paid for the operations by banco de santander or other terms of the deal
he also said an 180 metre section of the pipeline attached to the bridge over the aguarico river collapsed
reef energy corp said its board entered into agreements with penteco corp a private tulsa based company to buy a 12 pct interest in the general partnership of penteco east central pipeline and a 10 pct interest in lincoln gas and marketing corp
wholesalers also expected stronger sales in march while both retailers and wholesalers reported slower growth in import penetration it said
jose antonio almenara the general manager of the lima stock exchange where shares of the state owned firms could be sold told that the only foreigners who could purchase stock at the exchange had to be tax paying residents of peru
shearson contributed 316 mln dlrs of american express 125 billion dlr net in 1986
iowa beef lifts lockout at dakota city
first city industries inc said it has reached a definitive agreement to sell its nuton and yale security subsidiaries to valor plc for 400 mln dlrs and warrants to purchase two mln valor ordinary shares
pacific gas said accounting change will reduce 1987 net by 470 mln dlrs
in the 1985 86 wheat year ended september 30 the awb exported a record 1596 mln tonnes
twa said it may acquire additional shares in the open market in private transactions through a tender offer or otherwise subject to department of transportation approval
the kharg terminal attacked about 135 times since august 1985 was last raided in january
some 80 pct of japans lpg imports are from the middle east
the borrower is the wholesale financing arm of a major group of credit unions in the province of quebec
the company said it learned clandosan controls nematodes deadly plant pathogens formerly controlled by now banned synthetic chemicals
dst systems inc dsts regular payout set
shr primary 87 cts vs 83 cts shr diluted 85 cts vs 74 cts net 359 mln vs 306 mln avg shrs 410 mln vs 342 mln assets 1395 billion vs 1234 billion deposits 1021 billion vs 924 billion loans 922 billion vs 789 billion return on assets 107 pct vs 105 pct note net includes securities gains of seven cts a shr vs two cts
toepfer said in its latest report
the continued improvement would be due to good market demand better product prices and high operating capacity the company said in its annual report
at the state department secretary of state george shultz is being advised the baker plan is going through a rough patch while treasury officials are urging commercial banks to adopt more flexible approaches to guarantee their continued participation in the plan
it also said it plans an acetaminophen production plant at bishop texas
medium short grain rice in mln cwts 100 lbs cont
they are non callable for life
the philippine coconut authority said coconut production in the major producing region of bicol might drop by 25 pct to 320000 tonnes if the dry spell continued
period ended january 31
the bank earlier said first quarter net income rose to 965 mln dlrs from 870 mln dlrs in the prior year
yeutter made his remarks at a us israeli trade meeting marking the second year of their bilateral accord
shr 56 cts vs 46 cts net 2005000 vs 1685000 sales 1898 mln vs 1560 mln avg shrs 3603000 vs 3614000 year shr 188 dlrs vs 177 dlrs net 6774000 vs 6587000 sales 6921 mln vs 5968 mln avg shrs 3604000 vs 3713000 note net includes tax credits of 250000 dlrs vs 162000 dlrs in quarter and 610000 dlrs vs 1288000 dlrs in year
the statistics in it about pork do not reflect the hog of today which is about 50 pct leaner than it was 20 or 30 years ago thanks to genetic improvements and better feeding practices kline said
the trading gains and lower acquisition costs gave exxon more of a spread in its refinery operations and added to earnings gains from refining and marketing
perry gave no figures for colombias 11 km segment but said it was insignificant compared with what we are going to earn opec member ecuador was pumping around 250000 bpd before the quake
quotes included this week mississippi river granite city mla if p o traded at 175 pct of tariff five percentage points above yesterdays bid
exports in 1986 87 season at 666 vs 676 last month
financial terms were undisclosed
hall fbh debt may be cut by moodys
nevertheless he said it was likely to result in a boost to the conservative partys pre election popularity
but the owners of the smelters national southwire aluminum co and alcan aluminium ltd al said further viability of the operations would depend in part upon how the rate case is eventually settled
analysts were predicting prices of up to 5000 stg per tonne during 1987
last year the house approved his idea to force an annual ten pct trade surplus cut by those countries
japan february industrial production rose 03 pct 05 pct january drop official
we hope the producers and users of fructose will be actively involved those producers being the large processors the corn wet millers and the users being the beverage bottlers henderson said
redemption is to be in six equal tranches after two years
analyst theodore semegran of shearson said he raised his earnings estimates for the company to 725 dlrs a share in 1987 and eight dlrs a share in 1988
it wasnt until last wednesday that it turned into an avalanche he said
we are not trying to sell the company
farmers planted only around 60 mln acres of corn in 1983
trade house c czarnikow recently estimated production this year at 750 mln tonnes
for the year ended january 31 winley earned 116000 dlrs pretax on revenues of 117 mln dlrs
pioneer standard electronics inc pioso 2nd qtr
court does not sit tomorrow
the company earned 394 mln dlrs in 1986 including pretax gains of 115 mln dlrs from pension income and 7400000 dlrs from the settlement of vested pension obligations down from 415 mln dlrs in 1985
the company currently has 14 mln shares outstanding
the kuwaiti dinar is currently linked to a basket of currencies while the other five currencies are either officially or in practice linked to the us dollar
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
the vessel grounded close to itaqui port in brazil last night after undocking from ponta da madeira terminal
yeutter also said the canadian and israeli pacts should serve as important precedents for progress in gatt
the worlds dependency on the mideast as the source for its petroleum is growing and nothing is going to stop it donald k
but eyskens said februarys agreement between leading western industrialised nations to stabilise exchange rates at around current levels was working and this would allow the ec to speed up its efforts to boost the internal stability of the ems
an election is due before the end of september
the deadline for seeking icc reconsideration of the merger plan is midnight tonight
us refiners will have to reduce operations if they want to be profitable this year said industry officials attending the national petroleum refiners association meeting here
he encouraged companies to take advantage of new laws guaranteeing the interests of foreign partners in joint ventures
but a growing volume of trading in government securities is now also a major source of revenue for banks
oper shr 20 cts vs eight cts oper net 1869000 vs 957000 revs 410 mln vs 229 mln year oper shr 52 cts vs 53 cts oper net 5386000 vs 5147000 revs 1168 mln vs 983 mln note oper excludes extraordinary reserves related to arbitration of iranian claims of 2062000 vs 3200000 for qtr and year
baker pointed out that western nations which provide 95 pct of the banks financial resources represent just 46 pct of the vote
in addition sterling has so far shrugged off two half point cuts in uk bank base lending rates in less than two weeks
treasurys baker says new money not panacea
the case will be heard again on may 4 when a summary judgement will decide if the civil case should proceed
the very existence of all these bilateral irritants clearly emphasises the need to develop multilateral solutions to some of these problems the eighth gatt round of negotiations was launched at punta del este in uruguay in september 1986
four congressional panels met today to consider portions of a wideranging trade bill that intends to help us companies sell more products abroad and to fight unfair foreign trade practices
the rigs wont go back to work until the price of oil gets above 30 dlrs he said adding that while he expects to see 50 dlr a barrel oil he does not expect to see 2000 rigs operating in his lifetime
however several companies share the optimistic industry outlook expressed by a majority of analysts
john labatt ltd 3rd qtr shr diluted 32 cts vs 30 cts
gencorp said its rko general subsidiary agreed to sell khj tv in los angeles to walt disney co dis for 217 mln dlrs cash plus working capital and other adjustments at closing
the margin for eurodollar advances is 20 basis points over london interbank offered rates libor and there is a utilisation fee of five basis points per annum if utilisation exceeds 50 pct
production in february was 961000 tonnes against 888000 in february 1986 and took the nov feb total for the current crop to 225 mln tonnes
the sale is part of borg warners planned restructuring
gruen marketing corp said it expects to report earnings for the year ended january 31 of 60 to 65 cts per share on about 7309000 average shares down from 78 cts on 6545000 shares a year before
even after this action over the last few weeks sterlings only just within striking distance of that range he said
a 3163 mln dlr issue of bonds due 2001 was given an 8 1 4 pct coupon and priced at par to yield 112 basis points over comparable treasury securities and a 40 mln dlr offering of bonds due 2006 was given an 8 3 4 pct coupon and par pricing to yield 115 basis points over treasuries
south africas trade surplus rose to 162 billion rand in february after falling to 9062 mln in january customs and excise figures show
ecuador would repay that loan with crude once the oil pipeline is repaired
wyle laboratories said it is issuing in the euro market 25 mln dlrs of 6 1 4 pct convertible subordinated debentures due march 2002
it said these goals will be accomplished through the establishment of a council of agricultural research which will formulate and institute an agricultural research strategy
mthly div 73 cts vs 75 cts in prior month payable april six record marcxh 30
swiss sight deposits fall 288 billion francs
shr 5351p vs 4572p div 88p vs 735p making 143p vs 121p turnover 1917 billion stg vs 1705 billion operating profit 148 billion vs 129 billion pretax profit 139 billion vs 117 billion tax 524 mln vs 430 mln note the company said shareholders would be given the option of receiving dividend in cash ordinary shares or combination of the two
brennan estimated brazilian exports to canada totalled roughly 800 mln canadian dlrs in 1985 while imports from canada reached about 700 mln dlrs
producers enrolled 1894764 acres of corn base acreage in the conservation program to take advantage of a corn bonus rental payment that was offered by usda
haiti allows importation of banned black pigs
corrected gaf corp offers 46 dlrs a share cash for borg warner correcting amount
world bank president barber conable linked increased borrowing by indonesia the third worlds sixth largest debtor to fresh measures to deregulate trade and dismantle protectionist barriers
on corporation tax he said the rate will remain unchanged at 35 pct in 1987 88
he told the china daily that petroleum coal cotton non ferrous metals and electric engines could help balance the trade running at over three to one in swedens favour
yet a wendys spokesman said the company was aware of a business week article which named coke as a potential suitor and which market sources said helped ignite the rumor mill
last month the ivory coast informed its creditors it had to suspend payments on its foreign debt estimated at more than eight billion dlrs
the final decision on the initial prices usually made in april rests with wheat board minister charles mayer and the federal cabinet
canada slapped a 105 dlrs per bushel duty on us corn imports in november 1986 but reduced the duty to 85 cts last month because the canadian government said us subsidies to corn producers were less than canada earlier estimated
amstutz called the situation a dilemma for the usda and said we have spent hours in ascs agriculture stabilization and conservation service looking at this he did not say what may be done to rectify the situation
earnings from its natural gas liquids business fell by 79 pct to 420 mln dlrs from 199 mln dlrs in 1985
highveld hgvjj sees lower 1987 earnings
penneys store and catalog sales declined 13 pct overall and dayton hudsons overall sales rose 48 pct
cyclops corp says cyacqs amended offer restates original conditions
soymeal futures trade totalled 76340 tonnes against 90680 in january and value declined to nine mln stg from 10 mln
on prices the survey showed that 62 pct of companies expect average prices at which domestic orders are booked will remain unchanged in the coming four months up from 57 pct in february
merrill lynch and certain affiliates have committed to provide 200 mln dlrs in av holdings equity and 870 mln in subordinated financing and forward underwriting commitments
in addition retail prices and salaries stabilised last months
in 1986 the two firms neville lewis associates of new york and walker associates inc of la produced 156 mln dlrs in total fees
perhaps they were jealous that for the first time a chinese entity has taken the sole lead position for a chinese issue he said
new hampshire savings bank corp said it agreed to buy seashore bankshares inc in an exchange of stock
he said he supported an early election only because it would clear the air
the reduction resulted from completion of an earlier announced agreement by peabody to sell a 1501 pct interest in the company to eastern gas and fuel associates in exchange for all the coal properties owned by eastern
exports in 1985 86 are estimated at 1772 mln tonnes vs 1771 mln last month
investment firm raises tvx tvxgo stake
moderate to heavy rains in southern jiangsu anhui eastern hebei hunan jiangxi fujian and zheziang reversed februarys below normal precipitation pattern
george wimpey plc wmpyl said the outlook for 1987 looked encouraging as the company realised the continuing benefits of restructuring
in february the figures were 24 pct 22 pct and 54 pct respectively
but it said the proximity of the discovery to existing production facilities at the gidgealpa south field would allow mawson one to be brought into production rapidly
fed to release us april consumer credit june 5
co lead is pru bache securities
brazil suspended interest payments on 68 billion dlrs of medium and long term debt on february 20
most growers and traders added they are also against a buffer stock measure under the agreement which requires withholding of cocoa stocks when prices slump
renouf has 934 pct of benequity bh units
swiss banks are criticised by the churches who say they are in effect lending support to the south african government
to guarantee supply of cane is a major problem a western diplomat said sugar output also fell n fujian south chinas fourth major producer where there was a drop in area planted
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
us agriculture department inspectors have refused entry to parts of two lots of australian beef because of pesticide residues a spokeswoman for the department said
thai rice exports rose to 72987 tonnes in the week ended october 13 from 54075 the previous week the commerce ministry said
exports rose slightly to 336 billion rand in february from 331 billion in january but imports fell to 174 billion from 241 billion
qtly div nine cts vs eight cts prior pay may 12 record march 31
botswana bans zimbabwe meat products agency says
two months of strikes in the sector began on january 19 in protest at employers proposals for 350 redundancies from the 4000 strong workforce this year
hecla hl buys stake in greens creek venture
the transcanada proposal could open the bidding for dome since other potential buyers were probably waiting for lenders to agree to a restructuring he added
shr four cts vs four cts net 1180000 vs 902000 revs 1469 mln vs 370 mln avg shrs 33 mln vs 239 mln note company changed its fiscal year from december 31 to the last day of february thus results of operations for the year ago period have been restated to reflect this change
1985 4th qtr and year includes realized investment gains of 16000 and 35000 dlr respectively
the surplus on the current account narrowed to 68 billion dirhams from 255 billion in 1985
nov 30 end shr four cts vs 11 cts net 62986 vs 174158 sales 720906 vs 907542 year shr 18 cts vs six cts net 277852 vs 94263 sales 2247374 vs 2030390
south africa crop weather summary usda noaa
sumita welcomes us japan agreement on louvre
the amount was not confirmed but the talk was widespread through the trade
until last year the federal government had subsidized synfuels development through the us synthetic fuels corp a research program created during the carter administration with the goal of developing replacements for up to two mln barrels of oil
canadian natural resources to sell stake
the bank of england said it provided the money market with 181 mln stg in assistance this morning
most managers said they were planning a low issue volume for the bundesbanks two week bond calendar beginning today
uk retailers see growth in consumer spending
the company has two actively traded convertibles outstanding a 500 mln dlr bond due 1994 which pays 11 3 4 pct and a one billion dlr deal also due 1994 paying 11 7 8 pct
general mills said these charges will likely offset non operating gains which included six cts a share in the first half
canadas retail sales seasonally adjusted fell 01 pct in january after gaining 09 pct in december statistics canada said
sen
but it can still deal in bally stock as a broker it said
corroon and black corp said it completed the acuqisition of contractors planning group inc in an exchange of shares
but bankers said more and more saudi and bahrain based banks are boosting their treasury operations in london
the company said the start of the tender offer and the calling of the special meeting are conditions of the settlement and completion of the tender and merger are conditioned on final approval of the settlement
the ultimate cost of the existing system is food prices twice those in europe and two to three times those in the us the analysts said
calling the governments policies unbalanced and unjust he also demanded investment incentives to boost employment
shr 47 cts vs not given net 2100000 vs 1277000 note company went public in fourth quarter of 1986
franklin us government securities fund payout
the line will initially charter vessels to operate services between mombasa and the main ports of industrial europe but may eventually build or buy its own ships
pulitzer publishing co pltzc declares qtly div
shr profit 117 dlrs vs loss 12 cts net profit 113 mln vs loss 1038000 revs 1046 mln vs 1287 mln note current year net includes gain 9500000 dlrs from the sale of its specialty restaurants unit charge 1200000 dlrs from addition to insurance reserves 4600000 dlr tax credit and 660000 dlr charge from debt repayment
were going to have international dealers dealer networks that are worldwide he says
barber said in a statement on the banks 1986 results that bad and doubtful debt provisions both general and specific stood at 5456 mln stg against 4166 mln at end 1985
retirement will operate autonomously as a separate subsidiary
however utilicorps missouri public service division is experiencing the effect of a 59 pct rate reduction authorized in september 1986 he noted
leeds permanent building society is issuing a 50 mln stg offering of notes due april 23 1992 carrying a coupon of 9 1 4 pct and priced at 100 7 8 said barings securities co as lead manager
all wheat 1986 87 1985 86 cont 04 09 87 03 09 87 04 09 87 03 09 87 usage food 700 690 678 678 seed 84 90 93 93 feed 350 325 274 274 ttl domest 1134 1105 1045 1045 exports 1025 1025 915 915 total use 2159 2130 1960 1960 end stocks 1848 1877 1905 1905 farmer reser 475 450 433 433 ccc stocks 950 950 602 602 free stocks 423 477 870 870 avg price 230 40 230 40 308 308 note price in dlrs per bushel
peru has first trade deficit in four years
the sharp decline in soybean crush ratios seen in the last few weeks accelerating in recent days has pushed margins below the cost of production at most soybean processing plants and prompted many to cut output of soybean meal and oil
berliner bank ag has suffered losses of between 25 mln and 30 mln marks on credits extended by its stuttgart branch by bank officials who exceeded their powers a bank spokesman said
swearingen who came out of retirement in 1984 to head the struggling banking firm after a career as an oil industry executive said he will retire when the three year period he agreed to be continental chairman ends in august
none of gorbachevs proposals would change the system of economic incentives that has discouraged innovation and technological change the report added
tehran radio quoted defence spokesman ali akbar hashemi rafsanjani telling a visiting nicaraguan delegation yesterday at the moment the united states is moving towards the brink of an armed encounter with us
the court has validated our contention that the user interface and the appearnace of a product is a vital element of the product and is protectable by us copyright law the company said
a 75 mln dlr issue of notes due 1994 was given a 7 3 4 pct coupon and was priced at 99825 to yield 7782 pct or 80 basis points over comparable treasury paper
he said the decision was also taken to build up loan loss reeserves by making a sizeable increase in the charges for general provisions for commercial and cross border risks barber said due to bad debt provisioning the asia pacific region made a negligible contribution to pre tax profits he said the profits contribution from the uk businesses was well maintained although the reported result was affected by cross border debt provisioning while californian subsidiary union bank showed continued growth tropical africa middle east and south asia all turned in excellent performances and the revival in europe continued he said
natures sunshine products inc amtco 3rd qtr
adb sources said indonesias cumulative disbursements at end 1986 amounted to only 11 billion dlrs or 30 pct of loans received
duff and phelps said it changed the ratings on outstanding senior debt of baker international corp and hughes tool company
preway inc prew 4th qtr loss
out of a total 22125 tonnes in lme stocks the lowest level since june 1980 just over half is in uk warehouses which are not popular with merchants putting together shipments
weinberger told reporters prior to a speech at texas christian university that he did not think iran and the united states were moving towards a potential conflict adding that the straits of hormuz at the mouth of the gulf were still free water
aw computer systems inc awcsa year end dec 31
santa fe officials dont appear concerned that henley might launch a takeover
it said the distribution of about 20 pct of fishers common stock will be made april six to holders of record march 26
for the next two weeks sloan calls for september yen futures to advance toward the 0007200 area
tyler will assume the additional post of president
under the terms of the provisional agreement venezuela would supply up to 160000 barrels a day to the plant through a new company which would be jointly owned by the pdvsa and champlin a subsidiary of the union pacific corp unp the deal would also allow pdvsa a joint share in champlins refinery and distribution network
it said the offer is being extended to allow it to conclude talks with its lender and with representatives of the holders of 75 pct of the debentures on the terms of the offer
more
the 157 are among about 290 items on which washington has asked seoul to lower tariffs he added
some analysts said foreign investors had long ceased to watch the sterling m3 target and lawsons move to scrap it altogether earlier this week removed whatever was left of its credibility as a key factor in monetary policy
loans for financing hong kongs visible trade rose 34 pct to 3672 billion dlrs after a 18 pct rise in december
qtly div 82 cts vs 82 cts prior pay april 25 record april one
we are resuming what we did best for years an offensive position he said
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
metrobanc mtbc shareholders approve merger
us house approves pilot 0 92 disaster program
there will be a cap of 50 basis points over the london interbank offered rate liboron any drawings for advances and a 50 basis points commission on acceptances
icco group looks at cocoa buffer stock rule plan
share adjusted for three for two stock split
employment in the non manufacturing sector will continue to increase the institute said without giving figures
analysts and businessmen said the prospects of instability were worrying but they felt the foundations for continued growth had not been badly shaken
patronage refunds in the year ended february 28 1986 totalled 95 mln dlrs
major lenders counter that small banks must share the responsibility of making new loans and cannot expect to keep receiving interest on old debt unless they join in new ones
partly offsetting this outflow exchequer transactions and a fall in note circulation will add around 425 mln stg and 360 mln stg respectively
sosnoff said it has started a tender offer for all shares of caesars world inc at 28 dlrs each
jim ahtes a spokesman for ge credits outside public relations firm manning selvage and lee inc emphasized that the terms of the acquisition had not yet been approved
but s and p said valeros refining segment has been unable to consistently generate operating profits
this afternoons session was used by delegates to seek further clarification on some of the issues involved and to discuss internal matters
moodys said downgrades led upgrades last quarter by two to one
company is operating under chapter 11
the private placement for the belgian utilities finance company is for payment on may 26 and coupon payments are annually on may 27
arrivillaga said he wanted to clarify part of a report by a world bank mission that came in march to review the land reform program and which said the bank would not be able to finance compensation payments for the transfer of land
french 13 week t bill average rate rises to 746 pct from 737 pct official
borg warner agrees to buyout by merrill lynch firm
colombia will not attend a meeting of coffee producing countries scheduled for this weekend in nicaragua jorge cadenas manager of the national coffee growers federation said
louisiana sweet also was lowered 150 dlrs to 1635 dlrs the company said
the report said the 31 pct devaluation of the indonesian rupiah an increase in import duties on copra and increases in the price of philippines copra have reduced the margin between prices in the two countries
quadrex corp quad 4th qtr jan 31 loss
sage analytics international inc said its board has declared a three for two stock split payable june 22 to holders of record on june eight
pacific nuclear systems in pacn 4th qtr loss
bankers trust bt sells equity contract notes
it closed yesterday at 60800 30
shr primary one dlr vs 85 cts shr diluted 97 cts vs 81 cts net 1086 mln vs 868 mln rev 270 billion vs 217 billion
frances oilseed and bean cooperatives federation ffcop said it expected french rapeseed sowings for the 1987 harvest to rise by between 546 pct and 675 pct to between 600000 and 650000 hectares from 388000 planted last year
fridays employment statistics in particular will be closely watched sloane said adding that a forecast rise of 250000 in non farm payroll jobs should underpin the dollar
employees also get one free share for each one bought if the shares are held for at least one year
jp industries inc confirmed the announcement by clevite industries inc clev that jp industries has submitted a proposal to clevite for the acquisition of the company at 1350 dlrs per share in cash
however the hard work is still to come with a couple of years of tough negotiations ahead he said
merrill lynch and co mer 1st qtr net
it said the resolution may not occur before april 30
the company is trying to boost imports but has not set a specific target
metropolitan said it already has an option to buy another 42750 metex common shares at 1125 dlrs each
the strong yen has meant lower input material prices but has also resulted in higher agricultural imports which has worsened working conditions among part time farmers the paper said
banking center tbcxo 3rd qtr net
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
this compares with the previous januarys 139 pct
caecl issues 12 billion yen eurobond
the bill forces the administration to act rapidly on complaints of unfair trade practices such as dumping products in the united states at prices below the cost of production
this should result in substantial new lending for the major debtors in 1987 he said in prepared testimony for the subcommittee on international development institutions of the us house of representatives
new dutch special advances total 42 billion
among the main factors affecting liquidity bills for repurchase by the market will drain some 526 mln stg while bills maturing in official hands and the take up of treasury bills will remove around 179 billion stg
the alternatives being explored include a restructuring leveraged buyout or a takeover of the company by another company conrac said
shr 146 dlrs vs 113 dlrs net 14650000 vs 11270000 sales 265 mln vs 2271 mln avg shrs 10020000 vs 9980000 note earnings are pro forma including the increase in common shares that took place last october when the company went public through an initial offering of 14 mln shares
prudential corporation plc which earlier announced a 62 pct rise in 1986 pre tax profits said it had recorded its best general insurance result for six years but had not reached satisfactory levels of profit in other areas
we have to be competitive
french traders forecast ec sugar tender
for the interim period however we concluded that the responsible procedure would be to record income only as we receive payments on the loans he added in a statement
network executives cited cable television services and video cassette players which compete for viewers
the price will be fixed on or before march 24 at a premium of between 25 and 28 pct over the share price
the market is now trying to teach them that lesson again he added
taiwans exports in the april june quarter are expected to rise to 1203 billion us dlrs from 963 billion a year earlier and 1128 billion in the first quarter
a final compromise proposal on cocoa buffer stock rules presented by international cocoa organization icco council chairman denis bra kanon is swiftly gaining acceptance by consumer and producer members delegates said
but here too they were stymied
it was hoped to bring the public sector borrowing requirement down to five pct of gnp in 1987 from an estimated 56 pct in 1986
japanese feed and starch makers actively bought us corn last week c and f basis for july september shipment in view of bullish freight rates following active inquiries by the soviet union trade sources said
the financing marked the first trip to the international capital markets for the borrower since 1985
rio grand rgdc unit in partnership agreement
pins are tradable foreign currency denominated financial instruments with a six year maturity designed for conversion into pesos to fund government approved equity investments within the philippines
saitos words were ignored
owens and minor inc obodo 3rd qtr net
american petrofina which is controled by petrofina sa said it believes it has good and meritorious defenses to any possible claim resulting from the ongoing investigation
first american fiama sees gain from sale
fair lanes fair shareholders approve merger
the company today reported earnings for the nine months ended march one of 7214900 dlrs down from 7752800 dlrs a year before
the two companies said in papers filed with the icc that trailways could collapse in a matter of days they said trailways owed suppliers more than six mln dlrs with another six mln dlrs due june 30
the company which obtains usda approval for the proposed price must inform the department before 1330 gmt they said
and w
but the report raised a questionmark over the prospects for tourism and the banking industry two major service sector earners of foreign exchange
non refundable for 10 years the issue is rated baa 2 by moodys and bbb by s and p
railway maintenance had 1986 sales of 16 mln dlrs
4th qtr 1986 had 17 weeks vs 16 weeks in 1985
plant diseases and insect pests have increased in wheat producing areas it said
as one factor behind the anticipated loss endotronics cited a dispute by one of its japanese distributors yamaha inc over payment of a 3686000 dlr promissory note
there are already signs of change
gulf said the governments charges relate to discharging materials without a permit not to environmental damage resulting from the action
it may buy the wheat valued at 220 mln dlrs between april 15 and august 31 1987 and ship it from us ports by september 30 the department said
fed buys 500 mln dlrs of bills for customer
mcminimy told spring weather and its impact on crops will determine how much wheat moscow would buy under a subsidy offer
saudi arabias king fahd said last month that he wanted oil prices to remain stable for the next two years
errors and omissions were 265 billion dlrs in surplus compared with a 127 billion surplus a year earlier and a 110 billion deficit in january
the cause and extent of the damage had yet to be determined
the treasury will place a 25 billion dlr package of two year four year and seven year notes on the sales block this week
the philippines restructuring of 132 billion dlrs of foreign debt will provide a welcome boost for the economy but last fridays accord with the countrys 12 bank advisory committee does not imply an overnight boom bankers and businessmen polled by said
for the week as a whole he said that float related as of adjustments were small adding that they fell to a negative 750 mln dlrs on tuesday due to a number of corrections for unrelated cash letter errors in six districts around the country
revenue for the nine months rose to 320 billion dlrs from 270 billion dlrs
we know theyd buy more beef if they had the opportunity lyng said
but the us ran up a 23 billion dlr deficit in manufactured goods that year compared to a 14 billion dlr surplus in services trade with its neighbour
average yen cd rates fall in latest week
hog and cattle slaughter guesstimates
posted prices for 03 pct and one pct low sulphur fuels were unchanged at 22 and 20 dlrs it said
rep
astrocom corp acomo 3rd qtr net
the philippines trade deficit widened to 542 mln dlrs in the eight months to end august from 159 mln dlrs in the same 1986 period the national statistics office said
the kuwait investment office kio has increased its stake in sime darby bhd to 6372 mln shares representing 688 pct of sime darbys paid up capital from 607 mln shares malayan banking bhd mbkmsi said
sayam bank has existed since august 1984 when the finance ministry took over and re named the asia trust bank ltd
butlers livestock systems division was sold to an investor group including the president of the operations and certain control division assets were sold to minneapolis based enercon data corp
marcade group said it had agreed to buy europe craft imports inc for a combination of cash and common stock
it said the credit agreement and sale of black fin is expected to relieve its liquidity problems
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
federal reserve board vice chairman manuel johnson said that some us banks have been too rigid in talks with lesser developed countries on debt refinancings and warned that a breakdown of the renegotiation process could be harmful
the hong kong association of banks said it decided to leave interest rates unchanged at todays regular weekly meeting
merrill is offering 4850 dlrs per share cash for 89 pct of borg warner and a package of cash and securities for the balance
on saturday vice premier tian jiyun said china aimed to be self sufficient in grain
the trade subcommittee backed away from mandating specific retaliation against foreign countries for unfair foreign trade practices as the house had approved in a trade bill last year
3com corp coms 3rd qtr feb 28 net
nicor inc gas regular dividend set
it did not give the context of his remarks
first wisconsin said shelard is the holding company for two banks with total assets of 168 mln dlrs
crucial will be the ability of the 13 member opec to hold oil prices around a new benchmark of 18 dlrs a barrel in the northern hemisphere summer when demand usually slackens
great country bank gcbko year may 31 net
officials at national train company enafer headquarters in lima the peruvian capital declined to comment on when train traffic would be restored to cobriza
s and p said afgs appetite for substantial acquisitions is aggressive
but a water authority spokesman in duisburg 60 kms north of cologne said vessels there were moving normally
van driel stressed that while these listings would not be accompanied by new share issues they provided easy vehicles for the company to raise capital for future expansion
moore corp ltd said it proposed amendments to a special resolution seeking shareholder approval for authority to issue preference shares so that the shares will be non voting except in the event of dividend non payment
it also announced an increase of five cts per pound for performance grades of the resins
us defence officials disclosed in washington yesterday that the us navy which has about 24 warships in or near the gulf was prepared to escort kuwaiti tankers regular targets for iranian attacks in an offshoot of its war with iraq
philadelphia electric pe sells mortgage bonds
oper shr two cts vs eight cts oper net 41000 vs 153000 sales 7456000 vs 7965000 year oper shr 22 cts vs 50 cts oper net 434000 vs 1103000 sales 31 mln vs 336 mln note current qtr and year figures exclude loss from discontinued operations of 384000 dlrs or 20 cts per share
combined sales were 42 billion dlrs up from 40 billion dlrs in 1985 the company said
apparently trump said he was interested in it as an investment
sparked by the proposal of fujitsu ltd
delegates speculated brazils financial problems illustrated by its recent suspension of interest payments on bank debt have increased political pressure on the country to protect its coffee export earnings
the bank said it lowered the rate with the largest impact on the money market as far as the exchange rate permitted
with the exception of commerce all major sectors of the economy contributed to the fourth quarter rise in domestic production
coopervision inc eye qtly dividend
compromise seen likely over conoco statoil dispute
texas air corp tex unit files for debt offer
he said bankamerica will continue to reduce staff and operations noting that expense growth in 1986 increased only one pct over 1985 expenses
no reason was given
black and decker bdk sells 10 year notes
indias state owned national thermal power corp said it has signed an agreement to borrow 1691 mln marks at a fixed annual 648 pct interest for 15 years and eight months an ntpc official said
but the venture has no firm estimates on the costs of extracting the gold and no assurances can be given that the reserves can be mined profitably the company said
ccc credits for honduras switched to white corn
year to december 31
at the signing in new york last friday finance minister gustavo petricioli sounded a warning to the recalcitrant banks
the trade surplus in february widened to a provisional 104 billion marks from 72 billion in january she added
the revised unadjusted index was up 10 pct from a year earlier after a 14 pct year on year december rise
the meeting took place on the eve of the annual meeting here of the inter american development bank
uk intervention feed wheat sold to home market
for the 1987 crop he said prices are likely to hover in a range tied to the us loan program
new rates previous in brackets were average cd rates all banks 427 pct 432 money market certificate mmc ceiling rates for the week starting from march 2 352 pct 357 average cd rates of city trust and long term banks less than 60 days 433 pct 432 60 90 days 413 pct 437 average cd rates of city trust and long term banks 90 120 days 435 pct 430 120 150 days 438 pct 429 150 180 days unquoted unquoted 180 270 days 367 pct unquoted over 270 days 401 pct unquoted average yen bankers acceptance rates of city trust and long term banks 30 to less than 60 days unquoted 413 60 90 days unquoted unquoted 90 120 days unquoted unquoted
it is the intention of both companies that cash quarterly dividends following the combination not decline for either companys stock holders the company said
for the first quarter the acquisition will have a negative impact of about 20 cts per share chief financial officer thayer bigelow told security analysts
arkansas best corp said its 1987 first quarter earnings will be significantly lower than fully diluted earnings of 22 1 2 cts per share in last years first quarter
us treasury secretary james baker said any attempt to declare blanket debt forgiveness for major latin american debtor nations might damage the world economy
cominco cltto union rejects contract
shr loss six cts vs not available net loss 562231 vs profit 10253 revs 8871874 vs 9549308 year shr loss 60 cts vs loss nine cts net loss 5058145 vs loss 766185 revs 343 mln vs 355 mln
on the other hand the upside target for the yen which set a new contract high today at 0006916 in the june contract is at 0007050 horner said
asarco lowers copper price 150 cts to 67 cts
bywater in his statement said he backed a defense science board task force proposal to set up a consortium to develop new electronic products and manufacturing processes and make the us industory more competitive
the minister said the flow of funds from abroad would generate many new jobs in canada
dealers said that federal funds were trading at 6 1 4 pct when the fed began its temporary and direct supply of reserves to the banking system
akzo alleged that the ban imposed by the us international trade commission itc was discriminatory and incompatible with gatt provisions
but the group did not strongly back either option saying there were benefits and drawbacks to both
the source said tokyo was extremely worried by washingtons use of the exchange rate to change japanese policies
measured as an annual average rate inflation in march was 109 pct compared with 111 pct in february
it previously filed a statement covering up to 600 mln dlrs of such notes national gypsum said
violent fluctuations in the pesos exchange rate and the end of a 17 month bull run in local stock markets have triggered dollar hoarding
for example earlier this week the world bank raised us dlrs at only 25 basis points over treasuries
business editor offers 34 dlrs for harper hpr 
cedel is also reviewing all notes within its system exxon added
turkish central bank sets lira dollar dm rates
the feds report did not say at what level the intervention occurred
domestic group net profit fell to 779 mln from 1222 mln
shr 159 dlrs vs 54 cts net 433 mln vs 139 mln revs 5667 mln vs 4878 mln avg shrs 272 mln vs 259 mln note 1986 figures restated for adoption of financial accounting standards board statement 87 employers accounting for pensions net 1986 and 1987 includes 900000 dlrs of investment tax credits in 1987 and 31 mln dlrs in 1986
el paso electric said the agreement provides got continued full inclusion in its rate base of the costs of palo verda unit one maximum rate increases of three pct on a cents per kilowatt hour basis in 1987 1988 and 1989 and no further rate increases until 1994
japan central bank intervenes in tokyo afternoon
the trade deficit with japan for all of 1986 rose 111 billion dlrs to 546 billion dlrs and with western europe increased 72 billion dlrs to 286 billion dlrs
in 1986 this would have amounted to an increase of approximately 600 dlrs in the income of the average american family sprinkel also argued the 1981 tax cuts were not responsible for the large increase in the budget deficit
crude oil gasoline and heating oil all posted gains on the new york mercantile exchange with crude oil prices matching life of contract highs
schlumberger ltd said it terminated an agreement in principle for fujitsu ltd to buy 80 pct of its fairchild semiconductor operations
cominco clt sets tentative talks on strike
earlier the company reported a net after tax loss for 1986 of 608 mln dlrs or 463 dlrs a share compared with a loss of 289 mln dlrs or 243 dlrs a share in 1985
s korean trade surplus with us seen falling
west german 1986 sugar output rises
technigen platinum corp in metals find
french adjusted february trade deficit 400 mln francs vs january deficit 25 billion
japanese investor interest in british gilt edged securities is growing rapidly due to expectations sterling will remain stable despite the drop in oil prices and on calculations gilt prices will firm bond managers said
iraq has been insisting on a quota equal to its gulf war enemy iran which has a quota of 2255 mln bpd rising to 2369 mln in the second half
this will be used to defend a regularly adjusted price range and will be financed equally by importing and exporting members of the agreement
chesebrough said basss 1986 sales exceeded 170 mln dlrs
yield rises on 30 day sama deposits
shr loss 35 cts vs profit 18 cts shr net loss 946300 vs profit 502500 revs 173 mln vs 168 mln
it has commitments to export a further 353045 tonnes this year
admac inc jpac 3rd qt jan 31 loss
but he called that a small amount compared to the amount other investors have for acquisitions
mcdonalds mcd files 300 mln dlrs shelf offer
note final div deferred for tax advantage until after july 1 but not expected to be less than nine cents interim seven net after tax 8238 mln vs 9592 mln depreciation and amortisation 9329 mln vs 7619 mln interest 9094 mln vs 11649 mln minorities nil vs loss 10000 but before extraordinary loss 649 mln vs loss 5340 mln
in a statement lilly chairman richard wood said this strategic decision was reached on the basis of our belief that in the future the corporations resources including its research activities should be focused on its other business which have a high technology life sciences orientation
dixons group plc dxnsl has sold 83 mln shares in woolworth holdings plc wlthl through salomon brothers uk equity ltd a statement from salomon said
imperial oil imoa raises crude 32 canadian cts
durham said last month that the second quarter should match the first quarter when earnings rose about 11 pct to 168 mln dlrs or 49 cts a share
bryson oil and gas plc said it paid a cash consideration of around 54 mln dlrs for about 86 pct of cenergy corp a us oil and gas exploration and production company
analysts see early one point cut in uk base rate
the monthly average in january was 7371 billion dlrs
compagnie generale des eaux eaugpa a french water waste treatment and disposal heating ventilation and air conditioning concern said it has a 50 pct stake in california water service co
fruehauf said in connection with the buyout acquisition the predecessor company incurred about 97 mln dlrs in expenses charged against 1986 operations
nugent said in a speech to the texas house of representatives that the state must take the initiative in molding us energy policy and finding new ways to assist troubled oil producers
shr 98 cts vs 70 cts net 123 mln vs 8699000 sales 2847 mln vs 2807 mln nine mths shr 283 dlrs vs 223 dlrs net 353 mln vs 276 mln sales 8246 mln vs 8184 mln note share adjusted for december 1986 three for two split
rolls approaches float with profits set to rise
for its first six months ended december 31 the company earned 204 mln dlrs or 76 cts a share on sales of 4218 mln dlrs
the price is to be set on march 4 issue date is march 6 and redemption at par is on september 7
under the same circumstances in the new pact the reference price would be automatically revised by five pct unless the council decides on a higher percentage
the house energy and commerce subcommittee on commerce approved as an amendment to the overall house trade bill a provision giving reagan the power to block sales to foreign companies if the sale was not in the national or economic interest
these two cases have raised hopes that other companies will also reach agreement soon
two affiliated investment firms and funds they control told the securities and exchange commission they raised their orient express hotels inc stake to 1663800 shares or 170 pct of the total from 1560800 or 159 pct
the philippine proposal is very interesting its quite unique and i dont think its something that should be categorically rejected out of hand the official said
the exchange market is apparently reacting too much and anyone who sold the dollar on the baker comment will regret it later on the bank of japan official told 
in response to a question from mitchell energy and development corp mnd chairman george mitchell herrington said the report did not definitively rule out an oil import tarrif
the government has predicted that inflation this year would be slightly lower than in 1986 when it reached 209 pct
fairchild deal failure seen making japanese wary
g 7 seems worried markets ignore coordination
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
soil moisture supplies rated 41 pct adequate and 59 pct surplus
the company said the negotiations would determine the terms under which the ccr board of directors could support the intercep tender offer it gave no further details
on may 29 the bidder offered to acquire the carling preferred for 36 dlrs for each series a and 4050 dlrs for each series b share
blue arrow plc said it signed an agreement to acquire richards consultants ltd for 29 mln dlrs in cash and securities
soviet grain products ministry criticised
the provision for loan losses for the first quarter was eight mln dlrs compared to 11 mln a year ago
the auction will comprise 35 billion francs of 13 week bills 35 billion francs of 26 week bills and 35 billion francs of 52 week bills all fixed rate
analysts said the remaining players are mostly small firms that will find the competition much harder than in the past
due to late plantings only about 20 pct of the corn crop crop has been harvested
us completions of new homes fell 02 pct in january to a seasonally adjusted rate of 1884 mln units from 1888 mln in december the commerce department said
bpcc is currently locked in legal battles resulting from its attempt to take over us publisher harcourt brace jovanovich inc hbj earlier this week bpcc launched a two for three rights issue to raise 640 mln stg and said the money raised would enable it to renew its assault on harcourt
canada will propose at the new round of international trade talks that most trade distorting farm subsidies be phased out over a five year period trade minister pat carney said
we are looking forward to working with the employees of borg warner and to borg warner maintaining its strong presence in the chicago community merrill lynch will be the dealer manager for the offer which expires at midnight edt may 8 0400 gmt may 9 subject to conditions including the completion of necessary financing arrangements
egypt has cancelled its april 2 tender for 200000 tonnes of any origin wheat for april 15 30 shipment trade and egyptian official sources said
sosnoff made the offer directly to shareholders in a newspaper advertisement through a company he formed called mts acquisition corp
arizona forecasts will be dropped for lemons oranges grapefruit and tangerines in november december february march may and june with forecasts retained in october january april and july it said
the more united pressure there could be the better he said
this brings the banks total help so far today to 461 mln stg and compares with its revised shortage forecast of 450 mln stg
spot market and netback values for some crudes do not mirror official prices but opec will probably keep the 18 dlr target and at most make minimal changes to differentials analysts say
the provision for loan losses in the quarter was 35 mln dlrs compared to 1521 mln in the first quarter 1986 when there was a special addition to the reserve of 100 mln dlrs
another however said edelman succeeds in forcing managements to take steps to enhance shareholder values even if he doesnt win the target company
the government aims to narrow the current account deficit for the whole of 1987 to 975 mln dlrs compared with 152 billion last year up from 101 billion in 1985
despite official denials some traders still feel the us would countenance a lower dollar to help trim the nations trade deficit
some industry analysts speculated earlier this week that tenneco might follow transcos lead and close its pipelines to open access because of the take or pay issue
world bank sources said the banks lending to the philippines since 1957 including the latest loan totalled 43 billion dlrs
the rally began last week as proceeds from a sell off in dollar paper flooded into stronger currencies
novell novl sets payment date for stock split
many producers are more interested in working towards reimposing quotas from october 1 based on a new system of quota allocations valid until the international coffee agreement expires in 1989 they said
if it acquires the 499 pct stake snyder said in its sec filing it would use the stock to obtain a proportionate beneficial interest in the companys assets and liabilities
lightning strikes hit the grain sector of the port of rotterdam today after employers turned down union demands for shorter working hours in a new labour agreement transport union fnv spokesman bert duim said
charles stenholm r tex to narrow the bill to 1987 wheat only but whether he would also back a further reduction is unclear
more
indeed eurobond traders estimate that about 80 pct of all new debt issued here last year over 186 billion dlrs worth was part of either an interest rate or currency swap
under the february 27 accord venezuela will repay 203 billion dlrs of public sector debt over 14 years at 7 8 of a percentage point over london interbank offered rates libor this compares with the february 1986 accord which called for a 12 year term and interest of 1 1 8 point over libor
town and country jewelry tnc first qtr net
walgreen co 2nd qtr shr 62 cts vs 58 cts
it said efforts to wind up the banks affairs were proceeding as quickly as possible
henley groups chairman michael dingman has said he wants to take major positions in undervalued natural resource companies
i dont think there are fast and easy rules as to how international sources of finance would behave in a situation like this because land reform by its very nature requires rich financing to be able to carry out the reform in a way equitable to both the landowner and the beneficiary he said
the repurchase of the additional five mln shares will depend on market conditions the telecommunications and microwave components company said
m
the company which makes stainless steel tubing for the chemical petrochemical and oil industries earned 1045000 dlrs or 51 cts a share in the nine months ending september 30 1986
jestin said given the fact the us economy is showing signs of weakening particularly car sales it would indicate that part of the strength in canadas trade figures is probably transitory
the ec can only reject an offer to sell into intervention stocks on quality grounds
a wardley spokesman said the loan was well received by international banks which have a keen appetite for increasingly scarce korean assets
total capital including shares attached to warrants is 6788 mln shares
packaging systems corp said it agreed to acquire walter richter labels inc a privately held maker of woven labels based in paterson nj terms of the acquisition which is expected to be completed within 60 days were not disclosed
us trade representative clayton yeutter stressed the importance of trade negotiations to open foreign markets rather than trade restrictions in a statement to the senate finance committee
we cannot rule out a trip to financial centres to explain the new agreement and present the financing programmes we have he said adding he hoped to restore credit ratings of the 1970s
organized labor has pressed lawmakers for more relief from imports where jobs have been lost to foreign competition
a cash alternative would offer 646p for each share in superdrug
the rating agency said the index has been designed to reflect changes in corporate bond prices as they occur throughout the trading day
this report is another reason for the fed to not consider easing said ray stone of merrill lynch capital markets inc
however the finance ministry said in its annual report that malaysias crude oil output was expected to rise to an average 510000 bpd in 1987
sri lanka tendering overnight for wheat
the cbt spokesman said another option being discussed was to renovate the financial floor in quadrants one quarter at a time
waltham corp wlbko 3rd qtr net
hilton international will add 90 hotels to uals westin hotel unit which operates 61 hotels
in an apparent break with the previous policy of secrecy lawson told a national economic development council meeting he was comfortable with sterling exchange rates around current levels specifying rates of around 190 marks and 160 dlrs
national distillers and chemical corp expects to realize a second quarter after tax gain of four dlrs per share from the 545 mln dlr sale of its spirits business to american brands inc amb national distillers stock rose 1 1 8 to 65 1 2 after an opening delay on the new york stock exchange for an imbalance of orders
while the energy trade balance surplus rose by 54 billion guilders 47 billion of this gain was caused by temporary improvements of terms of exchange and was aided by the delay between the fall in oil and gas prices
navistar led the active list with a gain of 1 4 to 7 1 4 on volume of 42 mln shares
cyprus minerals company said it is decreasing its electrolytic copper cathode price by 125 cents to 670 cents a pound effective immediately
as part of the distribution of assets the company said it expects shareholders to receive an amount based on the bid price of the companys stock which was 1 16 on march five
tan said a continuing drought affecting about 49150 hectares of corn has led to the loss of 43725 tonnes of corn worth 1749 mln pesos and contributed to the shortage
commenting on yesterdays report on economic restructuring by a high level advisory panel to nakasone miyazawa said it was important to put the panels recommendations into effect
responding to another question tsai said aids related claims were a small portion of claims made with american cans insurance subsidiaries in 1986
brown said the bank of boston remains cautiously optimitic about the full year even if our brazilian exposure were to be on nonaccural all year in 1986 the bank earned 369 dlrs a share or 2328 mln dlrs on net interest revenues of 108 billion dlrs
however rico said it would require another five to seven cents to stimulate notable increases in output
marions stock gained 3 1 4 to 75 1 2
dealers said several new eurosterling issues were currently in the pipeline and an early issue is expected to be for a major european bank which currently has a mandate in the market
data access said phoenix chairman martin s
within the ems the mark is allowed to fluctuate against the guilder between 1101675 and 115235 guilders per 100
he said the prt relief for certain research expenditure would help fundamental research in the oil industry although the benefits of this research would not be seen for several year
henley group heng unit wins taiwan contract
sama increased the offer price on the 500 mln riyal issue to 9846094 from 9842188 last monday
but the small independent oil companies who do much of the drilling in the us are looking for the more immediate relief which could be brought on by an oil import fee
the transaction is valued at about 163 mln dlrs a jefferson spokesman said
corrected lifetime lft to buy nippon lace sahres
credo petroleum corp cred 1st qtr jan 31 net
a fall in short rates would make the public aware of the high yields in bonds and lead to a longer term capital formation braking the expansion of money supply
crude oil imports in the week fell to 398 mln bpd from a revised 422 mln api added
it said the shareholders had called for the resignation of all but one of computer identics directors and suggested that a new board pursue merger talks with imtec
we were expecting an offer north of above 21 or 22 dlrs said one arbitrageur
pricing and conversion terms will be fixed on april 19 and payment date is april 30
both issues are priced at par
ecuador suspended sales of crude oil its principal export product in march after an earthquake destroyed part of its oil producing infrastructure
chungjin manila 4200 mt steel coils 800 liner discharge 23 30 4
us gold production rose in december
it was 433 billion in the first quarter of this year
attributable profit 45 mln vs 39 mln
west german retail turnover rose a real one pct in january compared with the same month a year earlier according to provisional data from the federal statistics office
dow also said that the selling prices for performance grades of the resins to the same markets will increase eight cts a pound rather than five cts as announced before
france repays some of currency intervention debt
the company now has about 271 mln shares outstanding
morgan grenfell shares stood at a late 366p 9p down on yesterdays 375p
phelps dodge corp pd 3rd qtr net
hartford steam hbol sets split dividend hike
due to cold damp and windy conditions livestock advisories were posted this morning across central and southeast portions of south dakota
nippon shokubai issues 80 mln dlr warrant bond
many of the specifications are more specific than the current categories used in australia it said
stillmann and other cotton market sources said planting had begun in the rio grande valley and south texas areas only with planting in the crucial high and low plains areas not slated to begin until next month
told of a survey published today which estimated that opec output so far this week was below 15 mln bpd he said that could well be correct opecs news agency opecna today issued a statement saying group output was well below its ceiling in february
economist urges more taxes to lower nz dollar
they could not quantify how much coffee has been delayed but said at least 40 pct of coffee exports are carried by brazilian ships and movement of foreign vessels has also been disrupted by port congestion caused by the strike
benson was charged with demanding kickbacks from sales representatives who were asked to turn over a portion of their commisisons as a condition for doing business with empire
the joint company will continue to print northern editions of the telegraph and sunday telegraph with spare capacity used to print the sun and news of the world
san juan basin royalty sjt hikes distribution
the new york times quoted senator don nickles of oklahoma as saying the study greatly underestimated potential us demand for imported oil in the next decade and overestimated the amount of domestic oil which would be produced
these include the reduction in the top marginal crude excise rate on old bass strait oil found before september 1975 to 80 pct from 87 pct and the waiver of excise on onshore oil announced last september he said
taiwan says us wants taiwan dollar to appreciate
ireland is raising 300 mln marks through a 10 year eurobond with a 6 1 2 pct coupon priced at 100 1 2 lead manager commerzbank ag said
from our point of view its a question of entering into negotiations or discussions to make appropriate changes to contracts to reflect the changes that are going to take place on june 1 spokesman john cote told in reply to a query
the french finance ministry said today a public flotation offer opening this coming tuesday for 39 pct of the capital of banque industrielle et mobiliere privee bimp has been set at 140 francs per share
uk court rules against rtz on oil field costs
after the sale cyclops will retain its specialty retailing business and change its name to silo inc said dixons
nakasone told a lower house budget committee in parliament that japan and other industrialized nations committed themselves in paris last month to stabilize the dollar above 150 yen
chiles trade surplus narrowed to 1022 mln dlrs in february from 1054 mln dlrs in the same month last year but it was above the 182 mln dlr surplus recorded in january 1987 the central bank said
it said the dividend applies equally to holders of its common stock and class b common
if el nino picks up momentum perus fishing industry could receive a setback
the company said the mine would produce approximately 158000 ounces of gold per year over the first four full years of operation from 1989 through 1992 and at an average 133000 ounces a year over the full projected 11 year life of the mine
centre national des caisses depargne et de prevoyance cencep said it is issuing a 19 billion franc two tranche 12 year domestic bond led by caisse des depots et consignations
it has said it bought the stock for investment purposes but may raise its stake to 15 pct
state owned air canada takes over the countrys second largest overnight courier business just two months after another canadian company onex capital corp ltd approved the acquisition of number one ranked purolator courier ltd from new jersey based purolator courier corp pcc but analysts said the two acquisitions were prompted by financial restructuring undertaken by the us parent companies and likely dont represent an industry trend toward buying out foreign owned courier operations
beneficial corp said the sale of its american centennial insurance co subsidiary to first delaware holdings inc was approved by the delaware insurance department
raycomm transworld racmo to make acquisition
the japan find said tne deal is subject to obtaining satisfactory financing and a due diligence review
japanese creditor banks are close to a decision to jointly establish an offshore firm to which they will transfer part of their title to possibly unrecoverable debts owed by developing nations international financial sources told 
thatcher told parliament that shortly we shall have more powers than we have now when for example the powers under the financial services act and the banking act become available then we shall be able to take action in cases where other countries do not offer the same full access to financial services as we do cable and wireless is seeking a stake in the proposed japanese telecommunications rival to kokusai denshin denwa
the central bank began signing contracts by which it will provide dollars at a preferential rate for the payment of 78 billion dlrs of foreign debt under a new plan announced last december
rozich said he is looking for the june bond contract to ease to 99 6 32 and find support
the boards of both companies have approved the merger which will be accomplished through a tender offer by a boeing subsidiary of 37 dlrs a share cash for all of argosystems shares the companies said
world cereal stocks at the end of 1986 87 were forecast to rise 47 mln tonnes to a record 452 mln tonnes softening the impact of reduced production
us sugar program cut sent to congress by usda
that will be a company expense redstone said
imperial oil ltd 70 pct owned by exxon corp xon is negotiating with it major crude oil suppliers concerning the effects of a trial deregulation of albertas shut in crude oil production scheduled to be implemented on june 1 a company spokesman said
canada plans to offer a three part bond issue tuesday april 14 which will be dated and delivered may 1 the finance department said
the bank of france said it sold a total 845 billion francs worth of treasury tap stocks through its latest monthly tender at which it offered a choice of one floating rate and two fixed rate tranches
but at the same time free market demand has also fallen by almost the same amount which has left exporters chasing falling import requirements
colombia coffee revenue sharply down in jan feb
the cost of the deal signed late yesterday is around 90 mln stg and thomson will finance 50 mln of this from its equity
however with many producers starting to swing in favour of the consumer position that quotas have to be re allocated under a new formula brazil is becoming increasingly isolated which gives at least some hope of a compromise at the ico quota meeting in september the official said
shr 36 cts vs 28 cts net 2002000 vs 1518000 sales 1660 mln vs 1595 mln
the company said it discovered the extent of the alloytek problems during a year end review of subcontracts and related work in progress for production of jet engine components for general electric co ge it said it will release annual results around april 15
the prime minister said he hoped the next arab summit would tackle the question of continuing financial aid to jordan
taiwan plans mission to close trade gap with us 
company sources also said that any negotiations with algeria would emphasize looser arrangements which would relate volumes to market requirements and prices to us spot market values
cpo stocks fell to an estimated 286440 tonnes in february from 287940 in january and 653411 in february last year
avery said it will register with the securities and exchange commission shrortly to offer four mln additional common shares
they obviously will look for ways that are probably more in line with the silent hand than what they have tried thus far crowe told an american stock exchange conference
uk trade wary of higher ec grain levy
some 149 billion marks will drain from the market today as an earlier pact expires so the bundesbank is effectively withdrawing a net 81 billion marks from the market with todays allocation
mr ryzhkov handed me a list of import and export opportunities which i hope you will all jump at she told the meeting to mark the opening of new offices of the british soviet chamber of commerce
etl said the offer will have no minimum acceptance conditions and will be subject to australian foreign investment and us hart scott rodino anti trust clearances
ecuador minister raises questions about debt
the us austin co and japans kawasaki heavy industries inc said they have joined to compete for contacts for a new japanese airport at kansai near osaka
but the calculations were based on a time when trade was booming and credits still flowed freely he said dismissing the estimate as a theoretical projection based on a high point which has no real scientific evaluation a foreign trade ministry official said polish exports to the us in the late 1970s averaged around 400 mln dlrs annually and had fallen by half since the sanctions were imposed
these talks come at a particularly delicate time for the japanese government which is facing increasing domestic pressure to abandon its tight fisted fiscal policy and stimulate the sagging economy by spending more
rexnord rex to sell railway equipment unit
by stressing its record trade deficit of 1698 billion dlrs last year the us was fuelling protectionist pressure which threatens the world trading system it said in an annual report
shr 15 cts vs 15 cts net 689561 vs 784088 sales 192 mln vs 198 mln avg shrs 47 mln vs 53 mln note 1986 net includes a gain of 108000 dlrs or two cts a share from proceeds from the sale of property
no proof of more chernobyl grain damage diplomats
there is no prospect for any significant improvement in the unemployment situation over the next 18 months with the average rate expected to stabilize at 825 pct similar to last year
mexico buys 51000 tonnes us soybeans
britain and france are now working together to urge that the european community take collective action against japan but by working within ec treaties another official said
union carbide uk says long term debt rises
turkeys standoff with greece over aegean oil rights appeared at an end after the government said it had been assured athens would not start prospecting in disputed waters
qtr ended march 31 shr 88 cts net 973000 vs 713000 six mths shr 135 dlrs net 1497000 vs 1464000 note bank went public on dec 29 1986
during ramadan moslems fast during the day and have large meals after sunset
zimbabwean coffee output will reach 13000 tonnes this year up on just over 11000 tonnes produced in 1986 the commercial coffee growers association said
computer products inc said it signed a letter of intent for an underwritten public offering of 30 mln dlrs of convertible subordinated debentures
asked to confirm reports by new york copper trade sources about pasars shipment problems marketing manager deogracias madrid told they are partly correct
the coupon on the 100 mln dlr 15 year convertible eurobond for hokkaido takushoku bank ltd has been set at 1 3 4 pct compared with the indicated two pct joint lead bookrunner yamaichi international europe ltd said
us urges japan to open farm market further
du plessis said available foreign reserves of the reserve bank which increased by about 800 mln dlrs in the past two months and a continued current account surplus will be sufficient to meet terms of the new interim debt agreement
the government had distributed large quantities of seed and fertiliser and the rains should ensure a good crop
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
the chairman of one of spains leading banks said the measure was expected to bring a 20 pct drop in profits this year
frances economic and social council ces an advisory body comprising industrialists trade unionists and representatives of other sectors of the french economy said the countrys annual growth may not reach two pct in 1987
the bundesbank wanted to set a marker after stock market losses that was the responsible thing to do and if it fits with bakers wishes then all the better he said
he denied that there was any military hardware on the rigs except a 23 mm machinegun for air defence reacting to weinbergers remark that washington considered the case closed aqazadeh said iran will also consider the case closed after its retaliatory measure iranian officials have said their response would not be limited to the gulf and us interests around the world might come under attack
rowe furniture corp rowe sets qtly dividend
moodys investors service inc rates the notes at a 2 compared with a plus from standard and poors corp
alcoa australia plans 100 mln aus dlr facility
31 1988 they would offer to buy any and all remaining shares
malaysian traders said they expected prices to firm by a few cents on the news that a pact is expected to be adopted
it said there is still the outside chance that el nino will intensify and carry on through late march april and may causing problems as crops approach harvest
we lost very little land prior to 1980 when the industrialisation began official xu said
consolidated tvx mining corp said it agreed to issue 78 mln treasury shares to acquire interests in three gold mining companies in brazil and an option to increase the companys interest in a platinum property
williams also said it expected a substantial decline in its debt to equity ratio this year because of more than 250 mln dlrs received in cash from the sale of agrico chemical co and proceeds from the sale and leaseback of williams telecommunications co
bank of spain governor says money growth too fast
its pure fiction said one senior official at usdas foreign agricultural service referring to the rumor that the administration would make an export enhancement offer to moscow in the next two to three weeks
charles cheleden chairman and president of liberty financial and liberty savings will continue as president and chief executive officer of liberty savings headquartered in horsham pa the company said
only a marginally narrower trade deficit will add to growth
deutsche babcock ag dbcgf expects profits to rise in the current financial year ending september 9 although the earnings level is still unsatisfactory managing board chairman helmut wiehn said
the weakness of the whole debt refinancing proposal is that even with approval of creditors there is no assurance that dome will in fact be able to repay all of its debt obligations said wilf gobert an oil analyst for peters and co ltd in calgary
brazil whose 108 billion dlr foreign debt is the largest in the developing world has been under pressure from official and private creditors to work out an economic adjustment program with the imf to combat rocketing inflation and foreign payments problems
uk one billion stg bond tranche exhausted
mitsui and co to issue eurodollar warrant bonds
ecuador suspends payments to private banks
this is the second french soft wheat export sale for the 1987 88 season which starts on july 1 and follows a brazilian purchase of 150000 tonnes
it said the transaction will result in a loss of about 605000 dlrs or 50 cts per share which it will take in the fourth quarter ending june 30
however arango like colombian finance minister cesar gaviria last week was more explicit and said the united states would undoubtedly be under great political pressure in coming weeks to revise its policy
they would not disclose the councils recommendation but the officials said earlier it was likely the council would call for retaliation and urge that curbs be imposed on japanese exports to the united states
in mid december iowa beef a subsidiary of occidental petroleum corp closed its beef processing plant at dakota city nebraska because it said it had no alternative to threats by meatpackers to disrupt operations about 2800 ufcwu members are affected by what the union terms as a lockout
it said the airlines operating loss for the year was 3255 mln dlrs compared with a operating profit of 1965 mln dlrs in 1985
the dutch transport trading and storage firm phs van ommeren nv ommnas said it plans a 75 mln guilder bond issue with warrants attached
harmon industries inc said it signed a letter of intent to acquire for about 35 mln dlrs a majority of the stock of snp inc a portland oregon based company which has patents to reprocess used railroad ties into new ties for resale
the non callable deal of unsecured unsubordinated debt is in denominations of 1000 and 10000 ecus and will be listed in luxembourg
it invited bids by april 6 and payment date for the loan is april 10
this would increase foreign pressure to open japans farm market further but this would have little impact on japans agriculture policy he said without giving further details
internatio mueller nv intnas said it will acquire promac controls inc of canada but declined to comment on the amount of the payment which will be in cash
the new grade of unleaded gasoline has an octane level of 89 compared with over 90 for super unleaded and 87 for regular unleaded gasoline
national heritage nher buys management firm
net profit at ciba geigy dropped by 21 pct to 116 billion francs while sales fell by 12 pct to 1595 billion francs
usair group inc said the us department of transportation has issued an order allowing it to purchase and hold in a voting trust the 9309394 piedmont aviation inc shares usair is seeking in its current 69 dlr per share tender offer
the rating agency cited harcourt braces recent aggressive acquisition activity and increasing leverage
investment advisor said it sold the entire 604000 share stake between march 13 and 16 at prices ranging from 2425 to 24625 dlrs each
annual growth of private sector credit in calendar 1986 was 307 pct compared with 165 pct in the september year
it said it has also filed for proposed service agreements for interruptible and firm transportation service
discussions with bankers proved one thing
the price is unlikely to fall much below 380 or 390 dlrs an ounce and probably will continue in a range between 380 and 430 dlrs in the first half of this year he said
but january sales dropped by 277 pct from december levels to 2352 billion dlrs more than the 224 pct fall originally reported
in addition iomega announced layoff of about 182 employees principally from its manufacturing direct labor force
nec has been the most aggressive in resisting mitis demands said david keller analyst at james capel and co
both programs will provide up to 85 pct financing the maximum permitted under the oecd consensus
sigma mines details gold ore reserves
ted hall a council director and local managing director of mckinsey and co
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
shr 77 cts vs 50 cts net 565 mln vs 364 mln sales 5833 mln vs 5159 mln nine months shr 202 dlrs vs 119 dlrs net 1485 mln vs 871 mln sales 169 billion vs 151 billion
increasingly traders say firms maintain separate profit and loss sheets for their london operations so that trading decisions can be made independently from the us headquarters
imports from the ec in 1986 totalled 8302 billion escudos while exports to the community were 7321 billion compared with 6095 billion and 6071 billion the previous year
ec agrees on need to strengthen ems
westworld community wchi extends exchange
the ldp is already in political trouble over its tax reform plan and does not want to raise another sticky issue so soon the analysts said
crop genetics international cropo 4th qtr
they also said there was some speculation that if bpccs bid for harcourt was unsuccessful it could turn its attention to reed
a ship is expected later this week to load 12000 tonnes for china
black hawk mining cant explain stock rise
the china international trust and investment corp citic will issue a 30 billion yen 10 year bond on april 23 daiwa securities said as lead manager
in a filing with the securities and exchange commission the gabelli group said it bought the stake as part of its business and not in an effort to seek control of the company
treasury secretary james baker and federal reserve board chairman paul volcker have told house leaders they were optimistic their debt strategy would work but acknowledged the crisis could take a sharp turn for the worse congressional sources and us officials said
but japan has said gatt is not the right forum
in other words we will have regained the 1985 position and improved on it holden brown said
mauritius has lifted import duties on textiles and other goods connected with the textile industry as part of its economic liberalisation programme finance minister vishnu lutchmeenaraido said
market participants expect the new issue methods to be applied beginning in april with the projected issue by nippon telegraph and telephone corp the so called proposal method abolishes the practice of taking lead managership and enables more market oriented decisions on terms securities sources said
ford f credit unit sells notes at 695 pct
missouri based interco inc is establishing a 50 mln dlr five year revolving credit facility swiss bank corp international ltd said as arranger
us carriers or battleships would sail out of range of those missiles but within striking distance the paper quoted officials as saying
commercial paper might encourage fewer swaps one bond manager said
nofziger was given up to 1 mln dlrs in wedtech stock
they said a similar procedure was taken in the past in brazil and that it did not work out according to plans
group shr 491 yen vs 659 net 772 billion vs 1038 billion current 1681 billion vs 2084 billion operating 4556 billion vs 5202 billion sales 73450 billion vs 99615 billion note company forecast for current year is group net 14 billion current 30 billion and sales 740 billion based on rationalisation efforts and expected market price increases in agricultural chemicals and petrochemical products following the recovery in world oil prices
tian said the government still considered that the fecs had many demerits and negative influences bank of china president wang deyan told earlier this month that he thought it unlikely that the certificates would be scrapped this year
once a firm has received permission to act as lead underwriter the exposure will be valued at one sixth of the face amount of the securities
iraq said its warplanes had hit a vessel in the gulf off the iranian coast today the third in the past 24 hours
free men should not cower before such challenges and they should not expect to stand alone reagan will meet the leaders of britain france west germany italy canada and japan at the economic summit which will take place in venice june 8 10
aziz said the current 1986 87 crop harvesting of which is just beginning is expected to yield around a record 145 mln tonnes
the latter stock is free of tax to residents abroad fotra the bonds will be available to the uk government bond market from monday at certified prices of 11300 stg pct for the 2 1 2s of 2011 and 85 24 32 stg pct for the 2 1 2s of 2024
in 1986 cpc earned 2192 mln dlrs or 230 dlrs a share on revenues of 455 billion dlrs compared with income of 142 mln dlrs or 146 dlrs on sales of 421 billion dlrs in 1985
in the interview eyskens made clear he was hoping for a wide ranging discussion on the future of the eight year old ems on the basis of proposals for bolstering it drawn up by the ecs monetary committee and the committee of central bank governors
suralcos alumina refinery at paranam 18 miles south of the capital was shut down february 2 after workers destroyed plant and computer equipment in a protest over layoffs at the companys nearby aluminum smelter
the debentures will be convertible into common shares at any time up to april 30 1992 at a price of 1750 dlrs a share and then up to april 30 1997 at 1850 dlrs a share
the company lost 10 cts per share in 1985
corporate earnings will grow further in the first half of fiscal 1987 rising an estimated 107 pct it added
terms of the acquisition were not disclosed
the retail price index showed a year on year rise of 34 pct against three pct in january
shell canada shc raised crude oil postings
shr 450 dlrs vs 430 dlrs net 6374 mln vs 5885 mln revs 395 billion vs 410 billion avg shrs 1417 mln vs 1369 mln
sales 650 billion vs 610 billion maintenance gross income 195 billion vs 177 billion program products gross income 140 billion vs 115 billion and rentals and other services 825 mln vs 110 billion
coupon reduced on best denki warrant bond
chapman also said it also plans to negotiate settelment and discharge of a substantial portion of its accounts payable and settlement of certain litigation
pioneer sugar mills ltd said it considered the proposed 220 dlrs a share cash takeover offer announced by csr ltd csras on march 31 to be too low in view of the grouphkuiie and prospects
columbia gas system inc cg redeems debentures
qtly div three cts vs three cts prior pay may 4 record april 3
the jordan branch saw pre tax profit rise 80 pct in 1986 to 550332 dinars on assets of 126 mln dinars
the agency rates a finance unit on its creditworthiness as well as the support agreement it has with its parent
a spokesman for sun chemical was not immediately available
the us leads in production of medium and high end ics but japanese makers are keen to develop their own high end production skills the analysts said
crossland savings fsb said it has acquired western savings and loand co with the assistance of the federal savings and loan insurance corp
guardian national insurance co ltd garj j year
sunstar foods inc sunf 2nd qtr feb 28 net
the next opportunity for the bundesbank to lower rates on repurchase pacts will be in a tender expected next tuesday
the increase brings the price for 03 pct sulphur to 2250 dlrs up 175 05 pct sulphur to 2150 dlrs up 150 07 pct sulphur to 2025 dlrs up 75 cts one pct sulphur to 1950 dlrs up 25 cts two pct sulphur to 1875 dlrs up 75 cts 22 pct sulphur to 1850 dlrs up 75 cts 28 pct sulphur to 1800 dlrs up 75 cts
trans world airlines said carl icahn withdraws acquisition offer
fed approves chase manhattan commercial dealing
for the public offering it said there will be an underwriters overallotment option to purchase 18 mln shares
although japanese investors sold huge amounts of stocks in new york yesterday most are still looking for chances to lighten their us stock inventories hiromitsu sunada manager of meiji mutual life insurance cos international investment department said
applebaum of salomon brothers also sees some seasonal dropoff later in the year
its in the waters where its supposed to be
jon rosenbaum assistant us trade representative and head of washingtons delegation to the talks told on his return from london that the united states is willing to resume the coffee negotiations as early as april if necessary
bank governor chang chi cheng told reporters the increase came mainly from the banks purchases of more than one billion us dlrs on the local interbank market between february 18 and march 4
vestar securities inc ves sets payout
us retailers posted stronger than expected sales in february but not enough to prompt analysts to change their expectations of sluggish sales growth for the first half of 1987
the bundesbanks gross currency reserves rose 300 mln marks in the last week of march to 1049 billion marks the bundesbank said in a statement
qms inc aqm 4th qtr oct 2 net
humana said the rights expire march 4 1997 unless redeemed earlier
a five pct credit only for geological and geophysical expenditures
the notes are guarantees by long term credit bank of japan ltd
first interstate also has about 168 mln dlrs in short term loans or trade lines to brazil
chemical new york corps chl acquisition of texas commerce bancshares last year was valued at about 12 billion dlrs making it similar in size to the security pacific rainer deal
the governments position is to honour the debt commitments but without sacrificing the country because first we have to survive and later we can comply lara said
the figures showed a 03 pct provisional non seasonally adjusted rise in output prices in march unchanged from february and close to the average for the last six months
full year figures not available
1986 qtr and nine mths includes gain 104 mln dlrs and 329 mln dlrs respectively from utilization of net operating loss carryforwards
the bank also set a lira mark rate of 43060 43275 to the mark down from the previous 42935 43150
ldp executive council chairman shintaro abe will explain the plan to us officials when he visits the us on april 19
construction and civil engineering boosted by a rise in public works also improved while retail trade sales in all sectors continued to slow
near term strength seen for currency futures
over 97 pct of the loan has been subscribed but dozens of smaller banks are still baulking
the senate was expected to approve the legislation this week
british petroleum co plc said it raised its posted butane prices by 1550 dlrs per tonne to 123 dlrs fob north sea effective today
national gypsum debt upgraded by moodys
uk visible trade deficit narrows in february
i think its the stock price telling us gaf is coming in with another bid said one analyst who values the company at 51 or 52 dlrs per share
it said europharmaceutical plans to soon file with the fda to market the condom but expects the approval process to be a lengthy one
chinese officials have said farmers are unwilling to grow grain because they can earn more from other crops
nasd denies application
clorox co said henkel kgaa of dusseldorf west germany agreed to increase its holdings in clorox to 30 pct from the current level of 23 pct
the debentures are convertible into common stock at 825 dlrs per share
first financial management corp said it has offered to acquire comdata network inc for 18 dlrs per share in cash and stock or a total of about 3427 mln dlrs
shr 36 cts vs 66 cts net 4775000 vs 9342000 revs 1055 mln vs 1300 mln
the scheme which gives foreign firms access to cheap pesos to finance investment in mexico is likely to resume soon after the loan package is signed on march 20
preliminary figures showed refined production outside us lower at 377300 tons in december versus 384000 tons in november
dart said it requested the information before its meeting with sgl representatives but held the meetings in the hope representatives would reach an agreement
shandwick shares were unchanged at 460p
taiwans imports of us farm produce last year amounted to 141 billion dlrs against 152 billion in 1985
another 100000 to 150000 tonnes will be shipped during this month and around the same amount in april they said
refined lead consumption rose to 23992 tonnes from 23194 while scrap offtake was 2322 tonnes against 1773
hopes that foreign aid would finance 780 mln dlrs of the 114 billion dlr budget deficit have been dashed they added
standard and poors reduced allied bancshares senior debt to bbb minus from bbb and commercial paper to a 3 from a 2
gross fees of 1 7 8 pct comprise 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
shr 12 cts vs eight cts net 485866 vs 316193 revs 1741508 vs 1440154 year shr 28 cts vs 20 cts net 1108314 vs 778197 revs 5073178 vs 3687160
botswana has stopped importing almost all meat products from zimbabwe after reports of a suspected outbreak of foot and mouth disease in the neighbouring country
the exercise price has been set at 810 yen per share which represents a premium of 253 pct over todays closing price of 790 yen
shr 77 cts vs 107 dlrs net 14455000 vs 20083000 sales 3344 mln vs 3485 mln nine mths shr 240 dlrs vs 304 dlrs net 4500000 vs 56928000 sales 9874 mln vs 104 billion
fortune systems makes a desktop computer systems
we expect to complete the package very quickly he said in a telephone interview
wellington harbour board workers union secretary ross wilson told reporters talks late yesterday ended with agreement to take unresolved issues before an industrial conciliator
bankers in saudi arabia are negotiating a delicate balance between western business practice and oriental justice as they try to restructure the troubled corporate sectors debt
monier shares were trading at a 1987 high of 310 dlrs today up from the previous peak of 280 at yesterdays close and well above the 1987 low of 218 dlrs
geo
south koreas national news agency yonhap said this years current account surplus will near 10 billion dlrs amid signs of continuing high world demand for the countrys cheap cars and electronic goods
brazil has already frozen the lines to ensure it has enough credit to finance its day to day trade and commerce but needs to request a formal extension of the commitments to head off possible lawsuits from disgruntled creditors
the council is expected to agree to reconvene either within the next six weeks or in september they said
the one sentence statement from bells headquarters confirmed what its brokers warburg securities told in london yesterday
in the coastal stretches of the gulf of bothnia which divides finland and sweden the ice is up to one metre thick with drifts and currents packing it into almost impenetrable walls three metres high swedish coastguard officials said
wang chao ming vice chairman of the governments council for economic planning and development told the rising reserves were a big headache for taiwan he said the government expects heavier pressure from the us where protectionist bills are being proposed against nations such as taiwan and japan with large trade surpluses with the us wang said the government would launch new measures within the next two months to further reduce import tariffs and open the market wider to foreign products especially those from the us wang said the measures aim at helping reduce taiwans trade surplus which rose to 273 billion us dlrs in the first two months of 1987 from 202 billion a year earlier
the shares also will be exchangeable into gould convertible subordinated debentures at a rate of 50 dlrs principal amount per debenture
but the committee noted that capacity utilisation had in recent years been above that of the european refining industry on average
the size of the underlying futures contract is 130000 board feet
the head of the national merchant marine authority murilo rubens habbema was quoted today as saying that if the strike continued foreign ships could be authorized to transport brazilian exports
the agricultural policies of the european community and of the united states have caused our economies incalculable harm by closing their markets by price deterioration in international commerce and furthermore by the unfair competition in third countries brazils trade and industry minister jose hugo castelo branco told the october geplacea meeting
calumet industries cali sees 2nd qtr loss
sumita said the currency market has been reacting to overseas statements and to trade tension between japan and the us over semiconductors
none of the terms were disclosed
if lifo accounting had been used company said royal dutch per share net would have been 178 dlrs vs 317 dlrs in quarter and 1160 dlrs vs 953 dlrs in year shell transport per share net would have been 110 dlrs vs 181 dlrs in quarter and 636 dlrs vs 540 dlrs in year net includes restructuring credit 114 mln dlrs vs charge 72 mln dlrs in quarter and credit 67 mln dlrs vs charge 467 mln per share impact of restructuring on royal dutch was credit 27 cts vs charge 17 cts in quarter and credit 16 cts vs charge 110 dlrs in year on shell transport was credit 15 cts vs charge 10 cts in quarter and credit nine cts vs charge 62 cts in year net also includes currency exchange losses of 20 mln dlrs vs 69 mln dlrs in quarter and 170 mln dlrs vs 401 mln dlrs in year
the reason was the continued expansion of the machinery and plant sector which accounted for 42 pct of total sales
he told reporters following the release of the companys 1986 figures that project expenditure would also remain at 1986 levels
he said frequent but light falls in the areas that are short of moisture such as mackay mean they really only need about three days of the regions heavy tropical rains to restore normal moisture to the cane
it will be submitted again for approval by developing nations belonging to the so called group of 77 scheduled to meet next month in havana cuba
the issue is callable at 106 pct declining by one pct per annum to par thereafter but is not callable until 1994 unless the share price reaches 130 pct of the conversion price
chase amp bank cuts australian prime to 1775 pct
weiss attributed the poor year to problems involving management manufacturing operations financial condition and credibility among its suppliers
versatile corps shipbuilding subsidiary has a letter of intent to build a 320 mln dlr polar icebreaker for the canadian coast guard transport minister john crosbie said
us sells 1 year bills at average 568 pct stop 568 pct awarded at high yield 71 pct
the officials said negotiations will start next month on another 150 mln dlr loan sought by manila to carry out reforms in 14 major state owned corporations
the imf limit is obviously going to be abandoned predicted one analyst noting that south africa has moved steadily away from austerity measures recommended by the imf over the past two years
petrobras said in a statement today it had requested the withdrawal of the troops
dairy farm said it will offer to buy up to 3258 mln kwik save shares at 450 stg each
production of alumina at the refinery is currently running at around 3000 tonnes a day and is expected to get back to full capacity of 4000 tonnes within a week the billiton spokesman added
since the balance date woodside has accepted a santos ltd stoss takeover offer for vamgas
the federal reserve is expected to intervene in the government securities market to add temporary reserves indirectly via 15 to 25 billion dlrs of customer repurchase agreements economists said
official first quarter figures are due in early june
sun electric corp se 1st qtr jan 31 net
high real interest rates were attracting an influx of speculative foreign capital which was undercutting the governments target for monetary growth cuevas said
the philadelphia stock exchange phlx a leading trader of currency options plans to extend its trading hours to serve australasian and far eastern markets exchange president nicholas giordano said
qtly div 10 1 2 cts vs 10 1 2 cts prior pay july one record june 10
sight deposits of commercial banks at the swiss national bank fell 464 billion swiss francs to 788 billion in the first 10 days of april the national bank said
the government also enacted a decree cutting to one pct from 13 pct the proportion of total assets which banks must lend at favourable rates to industries classified of public interest some bankers expect the deregulation of rates to result in a 20 pct drop in profits this year
it said hecht will serve as a consultant for an interim period
pork production in 1986 was up 42 pct to 1725 mln tonnes slightly below earlier estimates it said
some traders who have received telexes from cuba said the language of the message was not totally clear and some believed shipments would be honoured if the traders declare the soviet union as the destination of their contracts
the government of president victor paz estenssoro has streamlined the deficit ridden state mining corporation laying off about 20000 miners two thirds of the workforce following a collapse of the international tin price in 1985
strevig and associates a houston firm that tracks oil and gas reserve sales said growing interest among foreign buyers had helped push reserve prices in recent months higher
van ommeren will shortly open an office in singapore and expand its facilities in houston to establish the gas container network
note prior quarter and nine mth net reduced by 25 mln dlrs or two cts per share for estimated costs to reduce workforce and consolidate various facilities
on an agreement between the two countries to prospect for uranium in guinea the communique said musa and sylla agreed that because of poor market conditions it would be extended to cover exploration for gold diamonds cobalt nickel and silver
the six month 40 pct ceiling expires april 6 but the banks want it extended for six more months
in a newspaper advertisement the company said the offer and withdrawal rioghts will expire april nine unless extended
ec commission authorised to buy maize in june
swire pacific ltd swpchkg expects continued growth in all divisions this year though it sees problems in the marine sector chairman michael miles said
for wheat japans pse averaged 958 pct the ec 281 and the us 172 japans rice pse was 688 pct compared to the ec 136 and the us 54 pct the oecd calculations show
the european community ec agreed a trade deal with argentina designed to compensate the country following the entry of spain and portugal into the group ec officials said
west texas sour at 34 degrees api was raised to 1810 dlrs
shr 164 dlrs vs 90 cts net 649 mln vs 288 mln revs 73 mln vs 35 mln note shares outstanding 395 mln vs 321 mln
mitsubishi bank ltds hong kong branch is planning a 40 mln new zealand dlr certificate of deposit cd issue banking sources said
an inverse floater tranche has an average life of 1127 years and matures 2016
sun sun raises heating oil barge price
1986 qtr excludes 159000 extraodinary loss
liquidity is expected to remain tight over the next month and this will put upward pressure on interest rates
but he added generally we feel very good about the bipartisan consideration of the trade legislation
period ended december 28
utilicorp ucu acquires dominion d subsidiary
the fire which started wednesday and burned for more than 24 hours destroyed the mines three year old conveyor system officials said
saudi crude oil output last month fell to an average of 35 mln barrels per day bpd from 38 mln bpd in january gulf oil sources said
the french treasury will issue between eight and 12 billion francs worth of tap stock depending on market conditions at its monthly tender on thursday the bank of france said
macneal schwendler corp mns raises payout
colombian group suspends bombings of pipelines
talking to reporters funaro said this attitude would not help resolve the crisis started when brazil suspended indefenitely interest payments on 68 billion dlrs in external debt on february 20
philip morris gained 1 3 4 to 88 1 4
us corn demand growing in japan south korea
crazy eddie said adoption of the plan is not in response to any known effort to acquire control of it
co operative bancorp said it completed the acquisition of all the issued and outstanding stock of the quincy co operative bank qbcko under the agreement quincy stockholders will receive 30 dlrs cash for each share owned of the quincy co operative bank for a total transaction of approximately 50 mln dlrs co operative said
comdata said the cash and securities alternaitcve is subject to welsh carson affiliated investors owning at least 60 pct of the stock of the new company
1986 4th qtr and year excludes a gain of 995000 dlrs and 2928000 dlrs respectively for tax credits
shr 51 cts vs not given net 4661000 vs 2499000 note includes net securities gains of 663000 dlrs vs 12 mln dlrs from
japanese crushers bought 5000 to 7000 tonnes of canadian rapeseed in export business over the weekend for april shipment trade sources said
but he added that the strikes which began on january 19 in protest against plans for 800 redundancies by 1990 could resume at any time before may 7 if the employers made any moves to re apply for permission for the redundancies
if confirmed the toll would make the incident the worlds worst since a soviet liner the admiral nakhimov collided with a freighter in the black sea last september and sank with the loss of nearly 400 lives
it noted that the purchase of ae involved the payment of some 125 mln stg cash as well as taking on aes own borrowings of some 85 mln stg
his idea which many conservative economists find appealing has some backing among board members appointed in recent years by president reagan
qtlry div 245 cts vs 245 cts pay april 6 record march 16
gencorp gy takeover group cancels hearing
the expected conversion premium is eight to 12 pct and the issue is convertible into smith and nephew ordinary shares
south africa gold holdings rose 17256 mln rand to 417 billion rand in march after rising 39 mln rand to 40 billion in february reserve bank figures show
conable who flew to indonesia yesterday from tokyo will meet with president suharto and senior economic ministers
chairman judson sinclair answering a shareholders question told the annual meeting that a special resolution passed by shareholders to create a new class of preferred shares would allow moore to move quickly if it decided to pursue an acquisition
a specialist unit is authorized by a stock exchange to deal as an agent for other brokers to keep a stable market in one or more particular stocks
howard who leaves for japan tomorrow told he will try to promote understanding on trade issues during his visit
biflyx 2nd qtr dec 31 net
ronald gallatin managing director at shearson said that demand for the offering was unbelievable especially for the first tranche he said that shearson originated the concept of auction money market preferred stock three years ago
multi step products inc six mths dec 31 loss
a direct reserve supply through system repurchase agreements is possible instead
it also said the project hopes to aid in reducing the governments interest rate and credit subsidies
miti has been criticized privately by some japanese semiconductor makers for what they see as heavy handed attempts to ensure the success of the japan us chip pact
the company said it will apply the proceeds of the sale to support its line of credit and as part of a proposed debt restructuring with colorado national bancshares colc and greenwood shareholders
it added that funds for the program have been provided by first exploration fund a canadian limited partnership sponsored by merrill lynch canada inc and dominion securities inc
the debentures are due june 1 2002 and pay a semi annual coupon of two pct and are priced at par
im telling retail clients to sell and leave the rest for those who can take the risk said rudolph hokanson analyst at milwaukee co
capels skeoch said it gives the foreign exchange markets something to shoot at it is obvious that the government as a member of the group of six has agreed exchange rate bands
however the rating agency said upgrades will probably stay at about the same level as in the past few years
the proceeds will be used to reduce the companys outstanding indebtedness it added
but the jardine statement quoted chairman simon keswick as saying we continue to believe that the issuing of b shares would benefit shareholders and regret that they will not be given the opportunity to vote on the matter at this stage keswick said the b share issue will benefit jardine mathesons shareholders by giving the firm flexibility to issue ordinary shares for expansion in future without diluting existing shareholders voting rights
on march 4 the cme board amended the contract to eliminate christmas eve expirations for the january option
it added that an additional 500000 shares is for overallotments
the credit terms extended for exports under the program must be in excess of three years but no more than seven years to eligible for credit coverage
hungarian economy continues unfavourable trend
cable and wireless holds a 20 pct share in a second potential kdd rival ltinternational digital communications planning inc along with c itoh and co merrill lynch and co inc mer and pacific telesis international inc pac both of the us hold three and 10 pct shares respectively
there was not much reaction among bank issues today though prices are still below par still market watchers said the action further undermined sentiment for bank paper
also easter ham business was completed this week and there may be less aggressive interest for pork in general next week
the pins proposal has been laid aside the discussion is now on pricing of just the cash payments he said
it primarily assesses indonesias agricultural sector but also reviews the countrys general economic performance
there are obvious problems at the moment in the trade area but we do not wish those problems to divert attention from important areas of cooperation that continue to exist on security and political issues he said
the workers at anglos vaal colliery south of johannesburg had struck to protest the alleged refusal of officials of the south african homeland of transkei to allow miners to attend a funeral in the homeland a union spokesman said
ubs won the other two issues in competitive bidding acting as sole underwriter
the government has said the land reform plan aims to distribute 97 mln hectares of land to impoverished peasants
parent company turnover was unchanged at 256 mln marks
real gdp rose 11 pct in the fourth quarter of 1986 after rising 02 pct in the third quarter and falling 11 pct a year earlier
emhart corp said it plans to increase worldwide revenues and earnings at an annual compounded growth rate of 15 pct and about 13 pct respectively
goodrich said it will continue to make aircraft tires at norwood nc and sonar domes at jacksonville fla and will relocate its molded rubber products business to a site not yet chosen
avana shareholders will be entitled to receive and retain the net interim dividend of 525p per avana share for the year ending 28 march 1987
australian industry development corp is issuing a zero coupon eurobond with total redemption amount 30 mln australian dlrs lead manager orion royal bank ltd said
advanced telecommunications corp itel said it called for the redemption on april 10 1987 of all its eight pct convertible subordinated debentures due 2006
crude petroleum prices rose 44 pct last month after a sharp 197 pct rise in january
thailands improved business climate this year resulted in a 27 pct increase in imports of raw materials and semi finished products
dixons group plc dxnsl said its tender offer for all of the common shares in cyclops corp of the us expired at midnight yesterday and that it had accepted approximately 23 mln shares in the company at 9025 dlrs each
everest and jennings eja qtly dividend
the central bank had placed buy orders at that level and prevented the dollar from falling when it came under heavy selling pressure from investment trusts and trading houses they said
shr 32 cts vs 22 cts net 2022000 vs 1355000 revs 160 mln vs 132 mln avg shrs 6237000 vs 6052000 six mths shr 58 cts vs 42 cts net 3561000 vs 2525000 revs 300 mln vs 261 mln avg shrs 6180000 vs 6017000
the offering is co managed by kidder peabody and co and shearson lehman brothers
bankamerica bac chair says bank turning around
david murdock chairman and chief executive officer said both our food business and our real estate operations increased their earnings during the year 1986 but he added that flexi vans 1986 results were hit by depressed daily rental rates for leased equipment caused by oversupplies
full year earnings totaled 29 mln dlrs against a year earlier loss of 15 mln dlrs
consumption by brass mills increased to 60700 short tons in january from 48900 short tons in december
s and p cited gafs 32 billion dlr acquisition offer for borg warner corp bor pro forma debt leverage would rise to nearly 90 pct assuming total financing
exotic newcastle a highly contagious disease of pet birds and poultry has been confirmed in two pet bird dealer facilities in maryland and new york the us agriculture department said
the dot threw out the application late friday on grounds it lacked the necessary data for the government to review the proposed usair takeover bid
current half net includes reversal of 2622000 dlrs of investment tax credits
the sources added that madagascars plan to export roasted coffee has failed to take off due to packaging problems
but they would be given a much greater role under an idea being floated by governor robert heller who joined the board last august
but doubts remain over whether the ministry of international trade and industry miti which is pressuring the firms can successfully battle market forces and whether the us industry is geared up to take advantage of any breathing space they said
esso raises singapore petrol pump prices
qtly div six cts vs six cts prior pay april 10 record march 31
stocks of slab zinc totalled 14780 tonnes down from decembers 15008
labour unrest has worsened in brazil following the collapse over the last few months of the governments cruzado plan price freeze
bankers trust co raises broker loan rate
willis fabers stake in morgan grenfell has been a very successful investment it said
the link will be inaugurated on may 8
while problem energy loans appear to be abating real estate problems are mounting s and p said
they said about nine vlccs of iranian crude have been sold to western traders with pricing based 60 pct on the official price and 40 pct on spot prices or with part of the price related to processing arrangements
roberts said there had been some talk that the issue of an eep to moscow had not been raised within the reagan administration recently because secretary of state george shultz was out of the country
kenyan coffee needs rain traders say
professor lifts banc texas btx preferred stake
the december current account had a 100 mln crowns deficit against a yearago 200 mln deficitdecember trade balance was 23 billion surplus against yearago two billion
japan has said it cannot open its markets to beef imports
a top us official said japan has little chance of persuading the us to drop threatened trade sanctions despite the efforts of a japanese team that left for washington today
terms were not disclosed
zzzz best co inc zbst 3rd qtr net
this is expected to prevent the area being boosted by dairy or cereal farmers moving into sugar
bil opposes the rainbow merger and analysts say bil needs a 25 pct stake in progressive to prevent it occurring
ganilau said this will be at least one month in advance of the expected date of payment of the second payment of cane
considerable uncertainty surrounds the outcome of todays ec white sugar tender traders here said noting it remains overshadowed by european operator threats to move over 800000 tonnes of sugar into intervention
norwegian tankers supplied south africa with about 30 pct of its crude oil imports during the early 1980s but the trade has dropped sharply to just one cargo in the last three months trade ministry officials said
the intervention board spokesman in frankfurt said one million tonnes is an awful lot and the communitys coffers are almost empty
its properties produce about 1100 barrels of oil a day
despite current strong interest in gold mine stocks many investors still want to buy physical gold witte said
it said it will stop making insulators for missiles
bond international has also sold several residential buildings in hong kongs mid levels district for a total of 6835 mln dlrs the statement said
a renewal of exploration in high cost areas of the north sea and the us requires prices of around 25 dlrs a barrel
infinite graphics inc infg 3rd qtr jan 31 net
the debentures are convertible into the companys common stock at 1075 dlrs per share representing a premium of 246 pct over the stock price when terms on the debt were set
the dollar opened at 14533 yen against 14560 70 in new york and 14525 at the close here yesterday
the chinese port of ningbo is working well below capacity despite being only 130 miles from shanghai which is seriously congested a port official said
strike threat lower traffic mar seaway opening
a purchase by transcanada would be least likely to run afoul of canadian antitrust laws however transcanada is asking for tax concessions from a federal government that is trying to hold its deficit below 30 billion canadian dlrs analysts have said
the company reported net income of 503 mln dlrs on sales of 8991 mln dlrs for 1986
bangladesh moves against loan defaulters
usda estimates argentine coarse grain wheat
alaska housing finance was established by the legislature of the state of alaska in 1971 and has so far acquired 61 billion dlrs of mortgages originated in alaska
he said that the company estimated between six and seven thousand cubic metres of domestic fuel oil gasoline and additives had been burned
kenyan minister forecasts economic expansion
storm brings heavy snows to us plains
in 1986 japanese exports to the ec totalled 3067 billion dlrs up 45 pct from 1985 while ec exports to japan fell one pct to 1243 billion dlrs
sterling today appeared resilient to the dollars decline dropping only slightly on a cross rate basis
the nzier said the sharp improvement in the june and september quarters was due mainly to a new tax structure and the introduction of a 10 pct value added goods and services tax and is not expected to continue in the second half of 1986 87
caesars said it will explore a variety of alternative transactions but did not elaborate
we didnt see that a year ago he said
the authorization provides for 34 mln dlrs about 309000 tonnes worth of wheat grade us number two or better except durum which shall be number three or better it also provides for 16 mln dlrs about 73000 tonnes worth of wheat flour
we want to have a weeks pause one manager said
sigma mines quebec ltd 65 pct owned by dome mines ltd said its sigma mine had proven and probable reserves at the end of 1986 of 4902940 tons with an average grade of 0139 ounces of gold a ton
they are very critical of the imfs austerity measures and there is sympathy for their view among the development community
qtly div 30 cts vs 30 cts prior pay march 31 record march five
revolving credit in january fell by 366 mln dlrs after rising by 552 mln dlrs in december
a dbcm official said the firm had placed 60 mln australian dlrs of the issue itself and quoted the deal at less one less 7 8 pct comfortably inside the 1 1 2 pct total fees
the latest belgian state loan subscriptions for which closed today raised a total of 1688 billion francs a finance ministry spokesman said
nine month divisional net earnings before minorities were
lifestyle restaurants inc lif 1st qtr jan 24
details of the plan have not been made public
private sources also said argentinas exports would not be affected by brazils decision which agriculture minister iris resende announced yesterday in sao paulo
one intersection graded 033 ounce gold per short ton over 44 feet at depth of 1411 feet while the other graded 022 ounce gold per ton over 23 feet at 2064 feet the companies said
greyhound lines agrees to acquire remaining routes of trailways corp
noranda to spin off forest interests into separate company
he said the entertainment group which includes the hanna barbara animation studios is currently hampered by a glut of animated product
brazil would not tolerate a change in ico regulations which others wanted changed one senior coffee dealer said
since it did not do so today this fed move is likely tomorrow
asked if higher us interest rates would stabilize the dollar balladur said when a currency is maintained artificially high by artificially high interest rates it is not healthy and resorting to higher interest rates could lead to recession he said
french officials said a major aim of chiracs visit was to present frances concern that the united states might ignore european security interests in any accord with moscow on removing medium range nuclear missiles from the continent
investor group cuts dba systems dbas stake
the offer and withdrawal rights are to expire april three unless extended and the bid is to be followed by a merger at the same price
some countries like argentina are pursuing anti inflation programs
producers are expected to hold other consultations in the coming months on how to proceed with quota negotiations but no date for a full producer meeting has been mentioned they said
government securities outstanding rose 125 billion dlrs to 22409 billion dlrs in week ended march 4 treasury bills rose 950 mln dlrs to 7455 billion dlrs and canada savings bonds fell 57 mln dlrs to 4434 billion dlrs
the previous record low was 14470 yen set on march 30
rjr nabisco inc said it will redeem all 12 billion dlrs of its 1120 pct notes due august 1 1997 on april six using the proceeds from the sale of its heublein inc subsidiary to grand metropolitan plc
our equity managers have taken a slightly heavier cash position in equity portfolios lately collins said
covington technologies inc covt year net
and the market is saying the deal wont go through alpert said
the disaster aid bill as it now stands calls for a one year 0 92 pilot program for 1987 crop wheat and the 1988 winter wheat crop
if predictions of a 20 to 25 mln bag temporao prove accurate this would be below the 27 mln bag average for the past 10 years
shr 102 dlrs vs 78 cts net 144 mln vs 110 mln note 1987 net includes gain 2222000 dlrs from termination of pension plan
concentrates produced were 238000 tonnes of zinc and 81000 tonnes of lead
spains money supply growth doubles in february
on credits that are refinanced an original lender would receive a residual margin of 7 16 pct for loans up to 10 mln stg and 3 16 pct on larger transactions
it widened to 361 billion in the first quarter of 1987 from 278 billion a year earlier taiwans official figures show
borrowings from the private sector by non bank financial intermediaries rose by 88 pct in the february year from januarys 95 pct rise compared with a 136 pct increase in the previous february year
the company said hambrecht and quist president william r
welbilt corp said it acquired food handling systems inc of dallas a producer of commercial ovens conveyers and proofer systems
the stock price has changed but the company hasnt changed so theres no reason for us to change said daniel good head of shearson lehman merchant banking
k mart said the earnings rise for the fourth quarter ended january 28 to 285 mln dlrs from 105 mln dlrs resulted from merchandising refurbishing and expense control a year ago k mart took a charge of 239 mln dlrs for discontinued operations
greyhound said it will relocate the production facilities currently in pontiac michigan to an undetermined location
it said the transactions will complete its previously announced plan to sell all non gold assets
ortiz mena said 42 countries opposed washingtons proposal to lower veto power over loans to 35 pct of the banks voting shares from a simple majority as at present
he said ec policies are the major cause of the depressed world sugar market
bob smith r ore does not require the administration make an offer but urges such action
but he indicated that it is already too late in the year to alter the 1987 crop program
without endorsing the report as policy officials point out that the government has put its signature to a programme designed to implement the report the ambassador said
lawson says some countries could cut rates
however first national bank of chicago tokyo branch assistant manager hiroshi mochizuki said the dollar will not show drastic movement at least to the end of march other dealers said the us seems unwilling to see any strong dollar swing until japanese companies close their books for the fiscal year ending on march 31 because a weak dollar would give japanese institutional investors paper losses on their foreign holdings which could make them lose interest in purchases of us treasury securities
the zambian kwacha fell at this weeks foreign exchange auction to 1875 kwacha to the dollar from last weeks 1695 the bank of zambia said
the rating agency said international rectifiers ability to reduce high debt levels and interest expense through cash from operations is very limited
kuwaits oil reliant and debt ridden economy has started to pull out of a nosedive but oil prices will determine the pace of recovery bankers and economists say
the spokesman said the company has not yet identified which of its canadian hotels will be offered for sale
transworld trust twt sets initial pay date
rochester telephone corp rtc 3rd qtr net
speakers at a conference on world agricultural markets here demonstrated a growing us european consensus on the need for an urgent and collective overhaul of world farm trade and production
it would increase production by 80000 barrels a day at a cost of 65 mln dlrs
bank of japan governor satoshi sumita has repeatedly ruled out another rate cut due to fears it could revive inflation
company spokesman dale coffin said the investigation could take from a few days to several weeks but would not be more specific
but analysts said hopes of reduced stocks is likely to founder on increased runs in refineries which could be up 03 pct above may 22s 812 pct capacity operated
nz central bank sees slower money credit growth
the company which is 704 pct owned by fried krupp gmbh said the job losses were part of immediate and longer term restructuring plans
nickel prices are unlikely to rise significantly from current levels unless further steps are taken to reduce production shearson lehman brothers said in its quarterly nickel market report
klopfenstein also said the department raised the premiums on high protein wheat to offset the drop in low protein wheat prices meaning the net price on any wheat commanding a protein premium would remain unchanged
we have decided to coordinate repayment of our debt with realistically assessed capabilities of our economy he said in parliament
the two largest firms mitsubishi heavy industries ltd mitht and ishikawajima harima heavy industries co ltd jimat account for only 30 pct of ships built the sources said
nine pct of husky would be owned by relatives of li ka shing chairman of hutchison and five pct by the canadian imperial bank of commerice
the well has a choke of 11 64 of an inch and is 10097 feet deep
american business products inc abp 3rd qtr
the committee rejected a tender today for a cargo of 27000 to 33000 tonnes on the grounds the prices offered by the us suppliers were too high he said
kuwaiti oil minister sheikh ali al khalifa al sabah said opec was producing well below its oil output ceiling and this would help prices move higher according to a kuwaiti newspaper interview
carter wallace inc car sets regular payout
crude oil netback values in complex refineries rose slightly in the us and the mediterranean last friday from the previous week but were lower elsewhere according to calculations by pipeline
the board approved a 42 mln dlrs loan to benin for the construction of the cotonou port to be repaid in 25 years with a five year grace period the statement said
leutwiler said the swiss national bank could not support the value of the dollar even in conjunction with other central banks without putting monetary stability in jeopardy
tin pact special session this week routine
but the current account surplus was down slightly from the 685 billion surplus recorded in february 1986
federal funds were trading at 6 3 4 pct at the time of the direct injection of temporary reserves in line with fridays 672 pct average
niagara mohawk nmk to cut costs
new exports will be considered only in about a years time when the 1987 88 crop can be gauged as well he said
quick and reilly group bqr 4th qtr feb 28
stanley works said it has acquired acme holding corp a maker of sliding and folding door hardware and the designs patents and other righs of plan a flex designer co which provides kits for home design and remodeling projects
major us oil pipeline shut down by floods
denominations are of 5000 francs nominal and the issue will be quoted on the paris bourse
spain has granted cuba a 25 mln dlr credit line for the purchase of spanish goods and services in the iron and steel industry the repair of fishing boats and development of industrial projects prensa latina said
negotiators at a united nations conference on a new international natural rubber agreement inra have agreed on basic elements in a new pact conference chairman manaspas xuto said
undersecretary of commerce bruce smart said we are gratified to learn that companies in canada have begun paying the export charge on lumber he added the agreement was important to the health of the us lumber industry and he intended to see that it was fully carried out
the five will be joined later by italy and canada for further debate on economic policy coordination
jamaica corrects size of paris club rescheduling
stanley interiors sthf sells convertible debt
northern trust corp said it filed with the securities and exchange commission a shelf registration statement covering up to 150 mln dlrs of debt
the acquisition had been opposed by some depositors who filed an action to block the takeover
commercial paper in tenures of one to three months will be issued in denominations of one mln dlrs it said
toll tol in stock split public offering
a marketing loan for soybeans was not discussed at last weeks meeting participants said
siemens already reported that first quarter 1986 87 group net profit fell marginally to 296 mln marks from 298 mln in the same period in the previous year
antonovich inc said an initial offering of 750000 class a common shares is under way at 9625 dlrs each through underwriters led by evans and co inc
the company said it expected profit from operations for the full year to improve over 1986
stoltenberg said in bonn today that he had already told funaro that the unilateral moratorium was a mistake
the certs program is not in any way a windfall to the trade he said
general merchandise store sales gained 14 pct after a 16 pct rise in january
hydro quebec canadian dlr bond raised to 150 mln
the feds last confirmed intervention was on january 28 when it bought 50 mln dlrs in coordination with the bank of japan
phelps dodge seeks to diversify more from copper
the 1725 mln dlrs of floating rate class j six bonds of the same maturity are priced at par at a rate of three month libor plus 065 pct with a 13 pct cap
net long term capital outflows rose sharply to 705 billion francs last year from 88 billion in 1985 largely due to a major program of foreign debt repayment the ministry said
boeing began its 37 dlr per share cash tender offer for the defense electronics firm on june two
european community sowings are likely to be down compared with last year
the final purchase price expected to be between seven mln and 75 mln dlrs will be based on an exchange of common stock valued at 15 times the book value of first federal as of the march 31 closing date the company said
the utility has about 33 billion dlrs of debt outstanding
shr loss one ct vs nil net loss 148007 vs loss 58863 revs 198919 vs 133071 avg shrs 7476433 vs 6633989 year shr loss three cts vs loss six cts net loss 230949 vs 424719 revs 666626 vs 509971 note amounts include losses of a 50 pct owned scientific development affiliate analytical biosystems corp
belgelectric raises 300 mln luxembourg francs
the nine largest airlines now control 94 per cent of the market
nichols said he did not know the identity of the other bidders or the terms of other offers
earlier the company reported a loss for the fourth quarter ended january 3 of 319 mln dlrs or 76 cts a share compared with a loss of 33 mln dlrs or 21 cts per share in 1985s fourth quarter
flowers industries flo sees lower year net
the us official who asked not to be identified said brazil and colombia may flood the coffee market in the next few months in an effort to drive down prices and pressure other countries particularly the splinter group of small producers who differed with the major producers in london
the company said it expects the annual coupon rate of the bonds to be between 5 1 2 pct and 5 3 4 pct
at the same time the investors believed the market was more liquid and efficient than before big bang
transworld liquidating trust said it will distribute proceeds from the sale of hilton international co to ual inc ual to its holders on april 8
the proceeds will go to reserves for acquisitions and will not show up in the profit and loss accounts analysts said
the future belongs to the brave
dynalectron corp said it purchased certain assets of standard aero inc including leasehold rights to its aircraft modification and maintenance facility in phoenix ariz
the minister said indonesia should hold three months supply or 510000 tonnes
the four day conference in this resort town high in the mountains above the tihamah plain stretching to the red sea has been organised by saudi arabias chambers of commerce
the normal daily limits will be reinstated once the first two limited deliveries close by less than the normal limit for two successive trading days
us court lets chinese bond suit dismissal stand
bhp to merge bhp minerals and utah international
grain traders sought to buy about 340000 tonnes
kim said the swing of south koreas current account to a surplus of 465 billion dlrs in 1986 from an 890 mln dlr deficit in 1985 was very significant
unusually high temperatures have also been reported across china media reports said
shr loss 207 dlrs vs loss eight cts net loss 11445000 vs loss 501000 revs 145 mln vs 110 mln year shr loss 191 dlrs vs profit four cts net loss 12427000 vs profit 211000 revs 608 mln vs 515 mln note includes non recurring charges of 12131000 dlrs in the 4th qtr and 12500000 dlrs in the year for reserve for underperforming restaurants
total investment this year the countrys second as a member of the european community ec will rise nearly 10 pct again the same rate as last year the central bank study said
2 or better hard red winter with 12 pct protein minimum and 13 pct moisture maximum
spains principal measure of money supply the broad based liquid assets in public hands alp grew at annualised rate of 83 pct in january compared with 114 pct during the whole of 1986 and a target of eight pct for 1987
one foreign banker said the development bank and the overseas union bank ltd have become major players in the equity market in singapore
the total non merchandise deficit grew to 504 billion dlrs from 414 billion dlrs
reduced were the companys 10 3 4 pct senior subordinated debentures of 1998 to caa from b 3
in 1987 also commerzbank planned to open a representative office in istanbul
international business machines corp said shipments and revenues were higher in the first quarter but net earnings fell 228 pct in part due to higher expenses
we are waiting for the prime minister to decide what to do
the directors also approved 15 mln dlrs of loans each for turkey morocco and jordan 16 mln dlrs for algeria 10 mln dlrs for south yemen six mln dlrs for tunisia and 31 mln dlrs for malaysia to finance the import of commodities including crude oil petroleum products and basic computer components
the company said its ladder making unit has been losing 300000 dlrs quarterly
new zealands current account deficit narrowed to 78 mln dlrs in february from 93 mln in january and 233 mln in february 1986 in a smoothed seasonally adjusted measurement the statistics department said
slater ssiato plans us modernization
french cereal exports through rouen up in march
the minimum amount of each tranche to be sold will be one billion francs
while this is a preliminary estimate the company said it may be used by shareholders when preparing 1986 income tax returns
abc said the final option gives investcorp the right to request facilities on an uncommitted basis
the international coffee organization ico executive board is to hold a meeting on november 3 4 its first since export quotas were re introduced early this month
the icc had rejected in july on grounds it would reduce competition the merger of the santa fe and southern pacific railroads
exports rose to a record 693 billion last month from 620 billion in january
showa denko ltd said it is exporting aluminium billet casting equipment and technology to countries that have recently begun aluminium smelting
the eca adb report said prospects would remain bleak for african economies in 1987 but predicted gross domestic product gdp growth ranging between 25 and four pct compared with 12 pct last year
the mineral interests will include asameras 51 pct interest in the cannon gold mine in wenatchee wash
rain was needed in the southwest west central and northeast regions and other regions were expected to need rain soon
year to date chrysler made 315635 us cars and 63795 us trucks compared to 373481 and 134 in the 1986 period respectively
lands end inc leys year jan 31 net
petrie stores corp pst 4th qtr jan 31 net
the conditions were that cyclops provide cyacq with non public data given to dixons and that cyacq be satisfied with financial projections made by dixons in its offer
deterioration of the sunflower crop evident in harvested material in cordoba la pampa and buenos aires forced yield estimates per hectare to be adjusted down again
although a handful of frn market makers were expected to remain on the sidelines for the time being dealers noted a tangible return of retail interest from the far east lured back by extremely attractive yields and bargain prices
the chrysler treasurer said that the corporate paper had typically an 18 year maturity
world dependency on mideast oil said inevitable
gros speaking to reporters yesterday after his first meeting with brazils bank advisory committee since he was appointed last month also promised a clear statement of brazils economic policy would be made in the next few days
dreyers grand dryr restates 4rth quarter loss
canada development corp said it is considering the sale of the 2708 mln dlrs it holds of falconbridge ltds 85 pct convertible debentures and of its 25 pct holding in cdc life sciences inc it said it made the disclosure in two prospectuses filed today with the ontario securities commission
the increase followed a revised 02 pct rise in personal income during january
the grounds for the appeal are that the judge erred on three points when giving his verdict michael arnold head of the broker creditors group tinco realisations told 
centel corp is raising 50 mln dlrs through an offering of debentures due 2017 yielding 9233 pct said lead manager smith barney harris upham and co inc
closing is subject to setting a definitive agreement it said
coopervision eye forms recapitalization plan
tempo enterprises inc tpo year net
heritage financial services hers 1st qtr net
the seven year bond matures on september 30 1994 and the nine year bond on september 30 1996
the current wheat reserve is 25 mln tonnes aziz said
ryder rdr buys british caledonian unit
the iadb has tended to make loans for projects rather than sectoral loans aimed at reforming latin economies and hence has never fully participated in bakers third world debt plan
mobil chairman allen e
but he said the question was still being considered by trade minister rachmat saleh and no decision on when to go ahead had been made
home shopping hsn makes offer fit euro demand
transport difficulties meant that by early february the cmb was holding unsold coffee stocks of around 750000 bags
if brazil does not resume payments 1987 net would be cut by 72 mln dlrs morgan added
talks continue on tin agreement extension
mexico signs 77 billion dlr loan agreement with commercial banks
api says distillate gas stocks off in week
if the banks do not cooperate by lending you back some of the money that you are sending abroad then of course you have an option monsod said
the rally in cattle also boosted values of live hogs and frozen pork bellies which also were supported by indications that producers were expanding their hog herds at a slower rate than previously expected
consumer spending a main driving force of domestic demand was likely to remain lacklustre although brisk housing and business investment would help sustain the economy this year the economists said
eli lilly lly to buy 23 mln shares
brennan said he could not comment on the impact of brazils interest payment moratorium on the royal bank of canada
in some areas there are waiting lists of farmers seeking a contract with processors to plant beets markwart said
but bundesbank statistics showed that net borrowing through bonds was 266 billion
cut were the companys first mortgage bonds and pollution control revenue bonds to a 2 from aa 3 unsecured pollution control and industrial revenue bonds to a 3 from a 1 and preferred stock to a 2 from aa 3
spanish unemployment falls slightly in march
the venture will acquire the related inventories and the champlin trade name the company said
dealers said the large banks which they did not name commanded short term money requirements of as much as five billion marks or so
conseco had 1986 operating earnings of 4968000 dlrs on revenues of 849 mln dlrs
i dont know whose going to buy them but at least this way it becomes a much more viable package said kim
period end may 31 shr profit four cts vs loss 22 cts net profit 139000 vs loss 799000 revs 1019 mln vs 868 mln
the union said it filed suit following the leveraged buyout to protect the claims of union members
analysts said differences between sugar exporting countries have held up any progress towards an accord with economic teeth while sheer competition between major exporters amid a world grain glut militate against any pact with economic provisions for wheat
the company did not disclose earnings for the 1986 period before august 15 or prior year results
morgan also said that based on current interest rates and assuming cash interest payments are not received for the rest of the year 1987 net income would be reduced by about 72 mln dlrs
ford f launches mark eurobond with warrants
for the last several weeks the stock has been strong on rumors of a spinoff of part of shearson
the securities are non callable for three years
lead managers are being recruited at the 200 mln dlr level co lead managers at 125 mln and managers at 75 mln
the subsidiary is expecting to cut its workforce to 6000 this year and 5000 in 1988 from 6800 last year under a job reduction scheme which will eventually save the group 600 mln francs he said
indeed regulators are apparently also concerned about the exclusion of other countries from the new requirements
but it has often turned out in the past that the price climate can quickly deteriorate forcing the central bank into a restrictive policy they said
new measures have been introduced to boost the private sector and attract foreign investment
healthco international inc hlco 4th qtr net
terms call for each share of orbanco common stock to be exchanged for about 14 dlrs of security pacific common stock plus 150 dlrs cash
prime minister yasuhiro nakasone intervened to try to resolve japans escalating dispute with the us over semiconductor trade government officials said
but it said job creation should continue to absorb a modest increase in the workforce leaving the unemployment rate unchanged at around one pct the lowest in the 24 industrial nation oecd area
delta natural gas dgas sells debentures
these comprised 65 mln stg in band one at 9 7 8 pct 114 mln stg in band two at 9 13 16 pct and two mln stg in band three at 9 3 4 pct
usda announces world market rice prices
the increase brings conocos posted price for west texas intermediate to 1900 dlrs a barrel
usair group inc said a us district court in pittsburgh issued a temporary restraining order to prevent trans world airlines inc from buying additional usair shares
fed data indicate policy likely to stay on hold
bhp to float gold unit with one for three issue
canadian pacific ltd said it retained wood gundy inc to seek a buyer for maple leaf mills ltd of toronto
jardine matheson plans four for one bonus issue
y running bales
world bank team arrives in uganda
shr profit six cts vs loss 451 dlrs net profit 815167 vs loss 12955562 revs 7981022 vs 2954488 year shr profit 16 cts vs loss 722 dlrs net profit 2446100 vs loss 19175931 revs 236 mln vs 146 mln
banking analysts said this put group total operating profits at some 6 1 2 to seven billion marks and parent bank operating profits at over five billion marks
the decision to cut basic tax by only two pence in 1987 88 was the right balance economically and politically he said
yugoslavia is to negotiate a long term restructuring of its debt after missing repayments in recent months mikulic said
oper shr 11 cts vs five cts oper net 248000 vs 122000 sales 7269000 vs 5481000 year oper shr 55 cts vs 14 cts oper net 1288000 vs 333000 sales 262 mln vs 176 mln note net excludes discontinued operations nil vs gain 103000 dlrs in quarter and losses 82000 dlrs vs 50000 dlrs in year
westcorp wcrp unit sells car loan backed bonds
a spokesman for the mining house said the action started on wednesday last week when thousands of miners staged a go slow at one underground shaft of the free state geduld division of free state consolidated gold mines ltd fscnj the action later escalated into an underground sit in at the mine over the weekend prompting management to close the affected shaft because of what the company described as the creation of unsafe working conditions anglo american spokesman john kingsley jones said the company held talks with the national union of mineworkers num south africas biggest trade union which claims a membership of 360000 black workers but failed to establish the cause of worker dissatisfaction
one diplomatic source said the key to polands debt problem lay in london saying that the commercial bank creditors there must take a practical position before a paris club decision
no underwriter was named
pentland said proceeds from the offering will be used by reebok to retire bank debt incurred in its acquisition of avia group for about 180 mln dlrs
in the south west the agpm said producers intended to plant a similar area to last years 671100 harvested hectares provided water supplies are adequate in the midi pyrenees region after the last two years of drought
seizer is experienced in turnaround situations and is expected to take direct involvement in river oaks management said charles f
the recent purchase of 15 mln tonnes of us corn by japan and 600000 tonnes by south korea suggests that the two countries demand for reliable supplies of corn is increasing the us agriculture department said
under a pact reached last july japan was to stop dumping semiconductors in world markets and to open its own market to us made semiconductors
melamed also chairman of dellsher investment co inc said the cme last week withdrew a proposal to put a 12 point limit on the s and p 500 indexs daily price movement when the commodity futures trading commission told the exchange it could not be a temporary program
resdel industries said it and san bar corp has agreed to merge san bar into resdel
so it would be beneficial to the continued conduct of our initiatives but the official also said the administration would resist calls for a tax increase to cut the budget deficit a target europeans say is crucial to help curb economic instability
the increase reversed a decline in january of 05 pct
gabelli firms have 285 pct stake in digiorgio corp may seek control
the block is split between class a and class b stock
west german central bank money stock was growing at an annualized 75 pct in february unchanged from the 75 pct reported in january provisional data from the bundesbank showed
shr loss 20 cts vs loss 14 cts net loss 352000 vs loss 248000 revs 285000 vs 681000 year shr loss 92 cts vs loss 49 cts net loss 1613000 vs loss 842000 revs 1523000 vs 2557000 note full name is north atlantic technologies inc
the department estimated spring potato area for harvest at 79100 acres vs 76700 acres estimated last month and 75900 acres harvested last year
heyman intends to reconsider its proposal to acquire gaf
oper shr loss 124 dlrs vs profit 19 cts oper net loss 1965000 vs profit 646000 revs 105 mln vs 116 mln avg shrs 1741000 vs 3581000 12 mths oper shr loss 155 dlrs vs profit 42 cts oper net loss vs profit 2051000 vs 1492000 revs 429 mln vs 455 mln avg shrs 1816000 vs 3581000 note prior qtr excludes loss 229000 or seven cts per share for discontinued operations
pravda said 42 mln roubles worth of defective goods were rejected in the nine month period
the agency said average weekly temperatures were below normal in the southeast near normal in the southwest and northeast and above normal in the northwest
marine midland banks inc is offering 125 mln dlrs of subordinated capital notes due 1997 yielding 866 pct said lead manager first boston corp
swedish construction and real estate company skanska ab skbsst
but other analysts said the dispute reflects not just us concern over what it sees as a strategic industry but also frustration with japans vast trade surplus
baker said it would be necessary for other countries to adjust their currencies upwards as well as remove their barriers to us imports
humana hum declares shareholders rights plan
shr 20 cts vs 20 cts net 1981000 vs 1689000 rev 247 mln vs 196 mln nine months shr 59 cts vs 53 cts net 5855000 vs 4360000 rev 709 mln vs 519 mln note fiscal 1986 per share data reflects dilutive effect of shares issued for april 1986 convertible debenture conversion
shr primary 66 cts vs 117 dlrs shr diluted 66 cts vs 81 cts net 1220691 vs 1302999 revs 137 mln vs 131 mln avg shrs primary 1859421 vs 1112400 avg shrs diluted 1859421 vs 1826303 note latest net includes tax credits of 565000 dlrs vs 620000 dlrs
loan loss provision 8800000 dlrs vs 6300000 dlrs
today citicorp said its first quarter income would be reduced by 50 mln dlrs after tax if it lists the loans as non performing status
however the ministry sources added it is possible the government may make further cuts in response to strong us and european demand
early redemption is possible from march 31 1990 at 104 pct declining by one point per half year thereafter and for tax reasons from 1988 at 102 pct declining by 1 2 point annually thereafter
cpc said the defendants which include the company its directors salomon and perelman deny all the allegations of improper conduct and are defending the suits
nordbanken said it did not exclude accepting a suitable bid for the shares although it expected to buy them back itself
oper shr 216 dlrs vs 207 dlrs oper net 8037000 vs 7710000 revs 1364 mln vs 1333 mln note 1986 net excludes extraordinary gain of 13 mln dlrs or 350 dlrs shr from sale of camco inc shares vs yr ago loss of 43 mln dlrs or 114 dlrs shr
it has also asked for a reduction in interest rates and fresh credit
a british naval source in the gulf said today iran had test fired its new silkworm missiles and set up launching sites in the area
the company said the debenture holders intend to waive the non compliance but reserve the right to withdraw the waiver at the end of any 30 day period
hes moving so fast hes stepping on so many toes a similar comment came from peter reddaway of the smithsonian institutions kennan institute for advanced russian studies
the ministry is accepting applications for phase two blocks until early april and the awards will likely be announced this summer officials said
the european communitys ec cereal management committee granted export licences for 5000 tonnes of quality soft bread making wheat at a maximum export rebate of 13475 european currency units ecus per tonne traders said
p young co a subsidiary of service resources corp said it cut its stake in sorg inc to 366700 shares or 167 pct of the total outstanding common stock from 385000 shares or 175 pct
data access systems inc said chairman david cohen has sold 1800000 common shares to phoenix financial corp for undisclosed terms and resigned as chairman and chief executive officer
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
nationals distilled spirits business has sales of about 580 mln dlrs american brands said
comtech cmtl to sell premier microwave
it said the two companies had entered into exclusive negotiations last october
embassies received letters over the weekend outlining aid needed for a sixth of sri lankas population in 13 districts
a 10 percentage point reduction in the australian governments maximum crude oil levy on old oil would stabilize bass straits oil output resources analyst ian story said here
telephone and data systems inc tds year net
similarily the west has no interest to see zaires strategic minerals fall into communist hands the diplomat said
kyushu electric power issues yen bonds london march 24 kyushu electric power co inc is issuing a 20 billion yen bond due april 22 1994 carrying a coupon of 4 3 4 pct and priced at 101 5 8 pct said nomura securities co ltd as lead manager
efps already in effect for platinum futures on nymex are expected to increase the open interest and liquidity in us energy futures according to traders and analysts
mellon bank says it will cut dividend to 35 cts a shr from 69 cts
flyer force intends to expand distribution of the newspapers to begin improved service to the winnipeg market southam said
i think that more does have to be done there in negotiations with the countries involved the so called nics newly industrialized countries he said
the federal reserve bank of new york said last week that the us monetary authorities bought more than four billion dlrs during the february april period the largest amount since the dollar crisis of the late 1970s
jack tseng president of the company attributed the high expectations to increased orders from major costomers as well as accelerated business from its growing reseller network
rosenmuller said there would be a meeting of the sectors 4000 workers this afternoon to decide on further action in the campaign of lightning strikes that began on january 19 in protest at planned redundancies of 800 starting with 350 this year
us commercial banks are expected to receive finance ministry approval in late april to operate securities subsidiaries in japan us bank officials said
final 1986 crop deficiency payments will be available to feed grain producers in october
we are looking at more options to acquire more reserves rather than just exploration conger said adding the move to consider acquisitions represents a change in the companys acquisitions policy conger said all of homestakes current cash position of 120 mln dlrs would be available to acquire reserves
home savings bank of brooklyn hmsbo 3rd qtr
alcan aluminium ltd said it has cut the expected cost of its planned laterriere quebec smelter by using enhanced grande baie reduction technology
the borrowings actually averaged 265 mln dlrs in the latest statement period and that was up from 191 mln dlrs in the prior period
fidelcor ficr unit acquires lazere financial
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the leaf disease corenes pora which has affected some rubber trees in sri lanka and indonesia is likely to force a cut in supply and push up depressed prices a malaysian rubber disease researcher said
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined and listing will be in london
mariano rubio governor of the bank of spain the central bank yesterday said internal demand was currently growing at an annual rate of six pct and it had to be brought down to four pct if the government were to meet its five pct inflation target this year
the proposal initiated by the us was withdrawn last night setting the stage for compromise
they also said an expected upturn in exports would be a mixed blessing as it would contribute to economic growth but would increase the chance of trade friction
a south african trade union is in dispute with a subsidiary of britains johnson matthey plc over the companys proposal to move a platinum refinery near johannesburg to a black tribal homeland
minstar inc mnst 4th qtr net
manila had demanded a renegotiation after argentina won a 13 16 of a percentage point spread but it later dropped this demand
at january 31 wickes had 239 mln shares outstanding the company also said
shr loss 30 cts vs loss 44 cts net loss 1135805 vs loss 1461792 sales 3398893 vs 2075260
output of defense and space equipment was up 04 pct the same as in january and 62 pct higher than a year ago
managing board chairman guenther sassmannshausen said in december the board would prefer to stick to its policy of not dipping into reserves to pay dividends
in both cases moodys investors service inc declined to follow suit bond traders noted
listing will be in london
sfem is a central part of nigerias structural adjustment program which is considered to be the most ambitious economic recovery plan in black africa
von wartenberg said consumer demand remained quite good but noted there had been a cooling in the investment climate
pound and canadian dollar capturing attention
they said they would spend more than 13 mln us dlrs to enhance the biltmores position as one of the finest resort hotels in north america chicago based vms realty is a real estate and development firm
young said the acquisition which is expected to close in april is subject to due dilligence review
mueller said in an article for the boersen zeitung financial daily that a monetary policy which took into account exchange rate expectations and capital flows could not be confused with an exchange rate oriented policy
commenting on februarys decline in the key m 2 aggregate slifer said the main cause was a 32 billion dlr drop in money market deposits at banks
the company said the product with the generic name of sucralose is made from sugar and tastes like sugar but is about 600 times sweeter
the cabinet approved a separate bill that analysts said includes provisions to make more difficult the build up of major new stakes in belgian companies
the failure last night of international coffee organization ico producing and consuming countries to agree export quotas brought a sharp fall on international coffee futures markets today with the london may price reaching a 4 1 2 year low at one stage of 1270 stg per tonne before ending the day at 1314 stg down 184 stg from the previous close
it said its position of cash and marketable securities increased to 463 mln dlrs at year end 1986 from 99 mln dlrs a year earlier
owens corning fiberglas corp said it sold its controlling interest in its french foam insulation producing subsidiary to a lafarege corp laf subsidiary
changes in usdas reserve rotation program are also under consideration vongarlem said
shr profit one cent vs loss 37 cts net profit 148000 dlrs vs loss 1686000 revs 114 mln vs 109 mln note company said net is before extraordinary items and taxes and declined to provide data on those items
unctads latest estimates project an increase of 85 pct in rubber prices this year and 41 pct in 1988
toledo and chicago elevators were finishing loading the first corn boats of the new shipping season supporting spot basis values at those terminal points
fire at tate lyle london jetty halts unloading
world group net profit fell to 3701 mln marks in the year ended september 1986 from 4724 mln a year earlier on group sales which fell to 4000 billion marks from a previous 4432 billion
shr 21 cts vs 20 cts net 965000 vs 726000 revs 134 mln vs 118 mln avg shrs 4606242 vs 3624528
national australia bank plans 75 mln dlr cd issue
el nino spanish for christ child because it appears around christmas is formed by the action of warm air bearing clouds and rain shifting from the indonesian archipelago to the coast of peru where it mingles with the cold waters associated with the peru current and returns across the pacific as the trade winds meteorologists said
federal reserve board chairman paul volcker said the us trade deficit is a challenge for the us equal to the soviet union launching of sputnik
it would pay new loans at current market rates
it cited tax reform weaker performance by the utilitys securities investment program and initial losses for non utility business
the oil was for june 20 july 20 shipment at 321 dlrs per tonne cif
last month london broker c czarnikow estimated turkish 1986 87 production at 142 mln tonnes raw value against 14 mln in 1985 86 and an average 176 mln in the previous three seasons
proceeds will be used for the partial repayment of outstanding indebtedness anadarko said
parent foreign turnover 1162 billion vs 1232 billion
the option is exercisable in the event that another party were to acquire 20 pct or more of chemlawn by means other than a tender offer for all shares at a higher price than ecolab is offering
subscriptions close march 23
metropolitan federal mftn to make acquisition
cost which has already reached around 65 mln european currency units would be a major consideration
freedom savings and loan association said it may seek a possible sale or merger of the association as it reported a net loss of 1127 mln dlrs or 3109 dlrs a share for 1986
media general incs chairman d
oppenheimer and co a new york brokerage firm said it raised its stake in viacom international inc to the equivalent of 2709600 shares or 77 pct of the total from 2232400 shares or 63 pct
we need inflation for us producers to compete with foreign producers brusca said prices of electronic equipment dropped 08 pct in februarys ppi
funds will be allocated by 0900 gmt tomorrow and credited to accounts later in the day
exports were estimated to have risen by seven pct he said although he did not give complete figures
dallas corp dls 4th qtr loss
systematics inc syst regular payout
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
uk money market given early assistance
reference new york grain freights 1 of april 8 ship brokers say the vessel fixed by cam from the great lakes to algeria at 28 dlrs is reported to be the vamand wave
allwaste inc said it has agreed in principle to acquire an air moving and related industrial services company it did not identify for up to 1400000 dlrs in common stock
piedmont pie preferred may be cut by s p
the european community ec accused the united states of violating a political commitment to free trade through practices including a tax on imported gasoline and a customs user fee
the company said its board and some former directors and first boston were also named as defendants
by better than a three to one ratio a majority of those polled said they liked reagan on a personal level
canada gdp up 01 pct in january
the ldp plan will form the basis for the last of several packages to stimulate japanese domestic demand and will be unveiled by the government in late may
the second contingency facility for 12 billion dlrs is designed to support investment in the public and private sectors
it said funds will be used to help finance growth
in the year chemicals and plastics earned 472 mln dlrs against losses of 142 mln dlrs in 1985
the european investment bank said it was advancing loans to italy worth a total of 3185 billion european currency units equivalent to 4606 billion lire to finance transport industry and infrastructure projects
qtrly div eight cts vs eight cts prior pay may 15 record april 10
wayne jones vice president at outboard for strategic planning said management wants to stay independent
the rise was mainly due to payment in january for a west german nuclear power station which led to a jump in domestic sales of 36 pct
the high court said texas courts must consider texacos plea to cut its 103 billion dlr bond while appealing the case
it said it purchased an 80 pct stake in source in 1980 and earned an unspecified profit on 14 mln dlrs in revenues in 1986
nearly half the increase in the latest quarterly index was contributed by the housing group the department said
dresser earned 9600000 dlrs for the year ended october 31 after a 950 mln dlr gain from a change in accounting and pension plan curtailment and a 253 mln dlr writedown of oilfield assets
wage increases are being offset by productivity growth
investor martin sosnoff said in a statement that he was disappointed in caesars world incs response to his 28 dlrs a share offer to buy the company
south africa banks agree new debt repayment plan standstill extended to 1990 bankers
finance minister palle simonsen said in a statement last night that the downgrading the second in four years should not be over dramatised pointing out that the government had already imposed a series of austerity measures to limit consumption and was willing to act again if necessary
shr 69 cts vs 62 cts net 4401000 vs 3808000 nine mths shr 199 dlrs vs 177 dlrs net 126 mln vs 108 mln
levitt lvt files for debenture offering
chambers development co inc cdv 3rd qtr net
analysts said based on earlier usda projections the harvests should have been five to seven mln boxes larger than they were
brazilian imports account for about 40 pct of total us supply vastagh said
us court upholds apex decision favoring nymex
ayala told an oil seminar the project due for completion in 1988 is aimed at improving distribution of oil products in the domestic market mainly along the pacific coast
banks built up minimum reserves today ahead of the expected outflow
the forum members include westinghouse and general electric but niedermeyers company is the only wood products firm on the membership roster
canada 4th qtr current account deficit 23 billion dlrs vs 3rd qtr 19 billion deficit official
the 18 month oil financing facility which was signed last october 28 is one of the few purely voluntary credits for a latin american nation since the regions debt crisis erupted in august 1982
we cannot accept this assessment because we have made not inconsiderable progress under difficult conditions even though we are aware of our own weaknesses zemljaric said
fed adds permanent reserves by buying coupons
ongpin has not said the philippines will unilaterally start paying interest at the lower rate but has made it clear to the committee in a telex that he is not prepared to pay more than mexico and argentina the source said
dansk naturgas issues 10 billion yen eurobond
it said proceeds from the sale will be used mainly for to replace variable rate indebtedness primarily privately placed commercial paper incurred in connection with the acquisitions of bayliner marine corp and ray industries inc
michigan general mgl begins exchange offer
they were clearly worried and this is the logical way of trying to stop the trend the diplomat said
but he added that firms hoping to take part would have to come up with package deals involving soft loan financing
financial security savings and loan association said it signed a letter of intent for a controlling interest to be acquired by an investor group led by south florida developer william landa
shr 41 cts vs 33 cts net 102 mln vs 8309000 revs 1933 mln vs 1577 mln nine months shr 129 dlrs vs 102 dlrs net 321 mln vs 254 mln revs 582 mln vs 4865 mln
kentucky central to declare stock dividend
the company had said in december that it had been interested in acquiring corning natural gas
nuclear metals nucm gets army contract
the transaction is expected to close at the end of april
a period of consolidation might be necessary before prices attempted to move significantly higherit said but so long as the dollar remains under pressure then the outlook for silver was positive
they said they are confident that the taft broadcasting board will conclude that the resolution of the companys current unstable situation as quickly as possible is in the best interests of all parties
altus bank altso fails to reach agreement
under an agreement with mize dna said he will also become chairman and may at his option expand the board to provide him equal representation with the current board
mcrae industries inc mrib 2nd qtr jan 31 net
the philippines must devalue the peso if it wants its exports to remain competitive economic planning secretary solita monsod told 
the non callable bonds will be issued in denominations of 1000 australian dlrs and will be listed in luxembourg
they said french west german and dutch officials had informed the committee that traders in their countries intended to sell just over 850000 tonnes of sugar into ec intervention stocks
as the work of retrieving bodies from the half submerged hulk continued maritime safety experts in london said doubts had already been expressed about the design of so called roro ferries such as the herald of free enterprise
the january level was the worst since the goverment started compiling unemployment statistics under the current system in 1953
earnings per share were 266 dlrs compared with 227 dlrs
thatcher defends uk oil policy in saudi interview
diplomatic sources said the dispute could provoke new trade friction unless it was settled soon
at the same time he said the region experienced a greater rise in per capita income and lower unemployment than the rest of the united states and california
moore mcl to amend rights of preference shares
inspiration resources corp said a gold project in northern manitoba in which it has a 448 pct interest has yielded estimated total reserves of 1580000 short tons grading an average 0185 ounce of gold per ton
mcleans mii us lines sets sale of assets
gulf 316 portland seattle 307 308 310 370 stockton 278 la 323 405 duluth 265 271 370 tex
johnstown savings bank fsb jsbk 1st qtr net
griggs said that m 2 and m 3 in coming months should return to the five to seven pct annualized growth region and so continue to present no problem for the fed
both companies said they do not plan to start new large construction projects linked to production increases in the coming year because of the yens appreciation and slow world steel demand
the api said that with the higher crude oil runs distillate and gasoline inventories were sharply above year ago levels
continental said it decided to deal with this change in its entirety in 1987
witco wit sells convertible debt at 5 1 2 pct
commonwealth mortgage cma sets payout
february merchandise trade recorded a 42 mln dlr surplus against a 246 mln shortfall revised from 287 mln in january and a 162 mln deficit in february 1986
lowrance electronics inc said results from operations in the third and fourth quarter may not be comparable to the first and second quarters which were strong because of orders for new sonar equipment
the mmtcs recent countertrade deals include iron ore exports to yugoslavia for steel structures and rails
a depreciation of the dollar means the depreciation of the ringgit which is closely pegged to it making the price of tin cheaper in sterling terms it added
he added nine other ec states backed an extension
primary industries minister lim keng yaik said in a statement that malaysia wants to continue with a second inra and is prepared to accept modifications that would strengthen the present agreement
world consumption could increase by a record 28 mln tonnes to 718 mln tonnes this season and would be even higher if the indian government did not artificially curb domestic demand
coleman co inc cln 3rd qtr net
a schulman inc shlmo 4th qtr aug 31 net
the debentures are convertible into the companys common stock at 4425 dlrs per share representing a premium of 2508 pct over the stock price when terms on the debt were set
but the ministers added that the go ahead for west germany did not mean there would automatically follow a community wide ban on the sale of regular leaded petrol
nycor inc nycoo 3rd qtr net
dresdner bank ag drsdf and commerzbank ag cbkgf have initiated similar moves
to maintain year on year growth of around 25 pct the economy would have had to rise about 12 pct in the fourth quarter as the final quarter of 1985 was strong
he said his government would oppose such a move because we do not think it is correct that a shortage of funds to support ec farmers should be alleviated by raising money at the consumers expense
richmond hill rich riverhead end merger talks
apart from that the government will keep improving the investment climate in order to accelerate the development of the petroleum industry he said
kondo said after a cabinet meeting that consumers should receive the benefits of the falling costs of rice farming due to the strong yen and lower oil prices
from october 1 no direct trade would be allowed in either direction with certain exceptions covering medical supplies and printed matter gradin told a news conference
if we write it all off and declare defeat these countries will decay and wither on the vine the treasury secretary said of an end to capital inflows that would follow debt relief
avg shrs not given
terms were not disclosed
some shorter maturities did better
this is a battle the industry cannot afford to lose if the nation is to continue to benefit from alaskan oil dibona said
cpc international inc said it expects 1987 earnings per share to increase over 1986 levels
the soybean crop is showing excessive moisture in some areas and producers fear they may discover more damage
shr 16 cts vs 22 cts net 1574000 vs 1725000 sales 1042 mln vs 1160 mln avg shrs 101 mln vs eight mln 1st half shr 37 cts vs 37 cts net 3675000 vs 2925000 sales 2445 mln vs 2306 mln avg shrs 100 mln vs eight mln
but asked whether a bridge loan might be arranged to pay the interest he said it could happen bankers said this possibility had not been raised at the committee meeting and dismissed it as inconsistent with brazils determination to find a long term solution to the problem of servicing its 110 billion dlr foreign debt
japan sees higher money supply growth this quarter
quebecs caisse des jardins issues yen eurobond
he said the government did not intend to change its resource rent taxation rrt legislation now before parliament in response to industry calls to allow all exploration expenditure in a given area to be deductible
depending on time required for regulatory approvals construction could begin in 1989 with first oil production as early as 1991 petro canada said
it said the shares held in trust will be eventually sold
greece declined comment on the statement
colombia traders say new coffee strategy vital
drexel burnham lambert inc caesars financial advisor has told the company it is confident it can arrange the entire financing needed for the recapitalization
raytheon co 1st qtr shr 137 dlrs vs 119 dlrs
us treasury secretary james baker said any attempt to declare blanket debt forgiveness for major latin american debtor nations might damage the world economy
recommendation reiterated on wang labs wanb 
the us has also attacked the original merger plans saying that both rival consortia should be licensed
the company which is the successor to ownens illinois inc said it plans to offer 250 mln dlrs of senior subordinated notes due 1996 500 mln dlrs of subordinated debentures due 1999 and 13 billion dlrs of junior subordinated discount debentures due 2003
mti said consumer goods will also become more expensive with the price of refrigerators rising some five pct
shr and avg shrs data reflect two for one split in december 1986
revlon buys germaine monteil cosmetics from beecham group for undisclosed terms
the city of rotterdam today signed an agreement in principle to cooperate with the aomi cargo distribution centre in tokyo
conversion of bank debt into equity investments in mexico is one option banks can take advantage of to reduce their exposure
dealers said federal funds were trading at 6 5 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
us 4th qtr balance of payments trade deficit was record 3837 billion dlrs
peoples savings bank of brockton pbkbo 
coca cola enterprises cce to sell debt
oper shr loss 32 cts vs loss 17 cts oper net loss 2999000 vs loss 1692000 sales 103 mln vs 115 mln avg shrs 9517000 vs 9905000 note 1986 operating loss excludes profit of 3688000 dlrs or 37 cts a share from discontinued operations
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
neither company provided details on why the talks were terminated
shr loss 137 dlrs vs 159 dlrs net loss 386 mln vs 425 mln revs 314 mln vs 594 mln note 1986 net includes pretax writedown of 23 mln on oil and gas properties and a 303 mln non cash provision for impairment of geothermal property
that deal awaits approval by the federal communications commission
net also includes extraordinary loss from early retirement of debt of 303000 dlrs for year ago 12 mths
shr 95 cts vs 83 cts shr diluted 89 cts vs 80 cts net 2297842 vs 1782764 avg shrs 2408332 vs 2160000 avg shrs diluted 2573908 vs 2326667
lo said the prospects for shipbuilding were gloomy at least until 1991 due to overtonnage but the outlook for ship repairing was bright
a growing us economy has been serving as a huge market for debtor country exports
louis businessmen
qtly div eight cts vs eight cts prior pay may 18 record may one
shr loss two cts vs loss five cts net loss 17334 vs loss 51507 sales 245560 vs 179839 avg shrs 1136785 vs 1046785 six mths shr profit four cts vs loss 17 cts net profit 47749 vs loss 174373 sales 721937 vs 284809 avg shrs 1136785 vs 1046785
instead it appointed a committee of independent directors to study strategic alternatives for the 170 year old firm
ecuador cannot service its debt owed to private foreign banks due to the earthquake that forced a suspension of crude oil exports central bank officials said
were talking nuts and bolts economic survival and whether its worthwhile for farmers to put in a crop farm leaders and economists have estimated the board will recommend cuts of around 20 pct in the initial prices
however hot dry weather during the past 20 to 30 days followed by an unseasonably brief cold spell during the second week of march has raised concern about late planted soybeans which are still immature but the impact may be localized the report said
vertex vetx to buy computer transceiver stake
as a result it said that inflation and ultimately another recession now loom on the horizon the somc said that central bank policies that rely on progressively larger swings in monetary expansion will not lead to sustainable economic growth and stable prices
smh issues 100 mln swiss franc bond with warrants
seven managers and employees at general mining union corp ltds kinross mines ltd will face charges of culpable homicide following last years disaster when 177 gold miners died the attorney generals office said
the agency cited expectations that macks profitability will improve over the marginal levels of last year
sensormatic electronics corp said it upped its investment in checkrobot inc in the form of 25 mln dlrs of convertible preferred stock raising its stake in checkrobot to 42 pct from 37 pct on a fully diluted basis
the taft family which founded the company almost 50 years ago has about 12 pct
it then sells shares in these to investors in the gulf region
brown and sons inc absb and the underwriting group has been granted an option to buy up to 675000 more shares to cover overallotments
if such price stabilisation is not implemented ec farmers should not be the ones to suffer through their prices and incomes from the financial consequences the letter made available to journalists said
international monetary sources say finance ministers and central bankers who will review market performance and their own economic prospects will reassemble again in washington just before the april 9 policymaking meeting of the international monetary fund
high winds keep vessels trapped in baltic ice
we took a very positive view of the opec meeting in vienna he said
s and p said the actions reflected trinitys weakened earnings due to depressed demand in several key markets the likelihood that a significant sustained improvement would not occur in the near term as well as heightened financial risk from a series of debt financed acquisitions
shr 74 cts vs 67 cts net 8067000 vs 7317000
therefore he said he would not change his 1988 earnings estimate of 105 dlrs a share
s p upgrades american security asec and unit
east europe wheat winterkill possible accu says
the reduced deficit on visible trade in the fourth quarter was due to an increase in the surplus on oil of 200 mln stg and a reduction in the non oil trade deficit of 100 mln the cso said
the association said generally low interest rates prospects of lower taxes a stable dollar rate and expected strong domestic demand led it to believe that the investment climate would remain friendly and the economy would continue its slow but very sure growth
shr 39 cts vs 27 cts net 1713000 vs 1207000 nine mths shr 113 dlrs vs 70 cts net 4935000 vs 4352000 loans 8432 mln vs 9372 mln deposits 9541 mln vs 1043 billion assets 109 billion vs 119 billion
kaufman and board inc and its insurance subsidiaries said they lowered their stake in quaker state oil refining corp to 1795908 shares or 69 pct of the total outstanding from 2120908 shares or 81 pct
it said the price to be paid in the tender and merger could be reduced by any fees and expenses the court may award to counsel for the plaintiffs in the class action suit brought against it in delaware chancery court by ronda inc
the split will be effected by a 50 pct stock dividend for shareholders of record march 23 to be distributed on april six
baluch said indications were that pakistan is to attain a record cotton production of 76 mln bales compared to the 1985 86 crop of 72 mln bales which also represented the target earlier set by authorities for this years production
the twa offer was announced shortly after the piedmont board meeting was scheduled to begin
the ksz offer resorts said indicates that ksz has a commitment from m
hertz realty issues 75 mln canadian dlr eurobond
gulf said the sale of the imperial shares were accepted as part of a recent tender offer made by groupe bruxelles lambert sa and tractebel sa under the terms of the offer gulf said it is entitled to receive a supplementary payment if a general offer to acquire imperial continental or its calor group or contibel holdings becomes wholly unconditional before jan 1 1988 at a price above the tender off of 710 pence per share
also excludes loss of 17 mln dlrs in current qtr from reversal of tax loss carryforwards
png exported 33000 tonnes of cocoa in the 1986 87 cocoa year ending september 30 of which nearly 50 pct was exported to west germany 16 pct to the us and the rest to the netherlands and britain
general tire employs 10000 people worldwide and has four tire manufacturing plants in the us and one in canada
family health systems fhsy to make purchase
gdp calculated at 1980 prices rose to 434682 billion lire last year from 423064 billion in 1985
the board agreed late last night to back the aga bid and advise its shareholders to accept the swedish groups latest offer of 4410 francs per share he told 
thompson medical co inc tm sets quarterly
chrysler c to step up counterfeit battle
hes a heavy hitter and he does not like to get pushed around said henderson
september t bonds are up almost six points since about may 18 merrill lynch debt analyst jim duggan noted
cb and t bancshares inc said the board of carrolton state bank of carrolton ga has approved a merger into cb and t for an undisclosed amount of stock subject to approval by regulatory agencies and carrolton shareholders
the exercise should make our stock more marketable lazo said
industrial valley has assets of about 376 mln dlrs and was acquired last year along with ivb financial corp
fed expected to set customer repurchases
production in the machine building sector a priority in moscows plans for economic renewal recovered slightly in february but was still 36 pct lower in the first two months of the year compared with the same period of 1986
aritech corp arito 3rd qtr oct two
the company said the agreement calls for the holders of common stock in hal roach to exchange their shares on a one for one basis for shares in the combined company
diamond shamrock dia to raise share values
if the ec farm budget were protected by a subsidy freeze there would be little incentive for the community to work to correct the international trade situation he added
here too acres some farmers may have been thinking of shifting to soybeans will now be planted with oats due to the more attractive deal from the government they added
although the agreements were signed in the sumptuous surroundings of a midtown manhattan hotel the atmosphere of the signing ceremony was rather subdued with bankers and officials showing little of the elation and relief that normally follows the conclusion of a mammoth deal
after travelling this week to france germany switzerland and italy funaro hopes to visit canada and japan next week before starting negotiations with banks
despite its cost cutting mhi expects profits to drop 40 pct to 30 billion yen in the current fiscal year ending march 31 from 1985 86s record 5014 billion
hackl said that in january and february this year the banks credit business had not livened up
pier 1 said there are currently 191 million shares of common stock and 960000 shares of 25 cts preferred stock outstanding
members of the three exchanges have been consulted agricultural futures exchange secretary bill englebright told and no objections have been raised to the merger
formal documents will be sent to shareholders as soon as possible it said in a brief statement
us oil stocks rallied in response to the offer
the trade legislation to be considered by the full house in late april would require president reagan to retaliate against foreign unfair trade practices unless the trade actions would harm the us economy
but special steel boosted by strong demand for stainless cold rolled flats grew by five pct in tonnage terms
investors are saying to themselves that waste management companies have that kind of exposure to regulatory suits brown said
norways trade deficit widens in february
american can co chairman gerald tsai said the company will record higher earnings in the first quarter and for the full year
consumer delegates said this method would reflect changes in many countries export capabilities and make coffee more readily available to consumers when they need it
the sum of the deal was not disclosed
the us officials who asked not to be identified said a year ago washington felt the french were not taking strong enough action against terrorism
arts way manufacturing co artw 3rd qtr net
this would require banks in turn to cease accruing interest and set aside expensive loan loss reserves
it will also review implications of any defensive actions by gencorp
sulpetro ltd year oct 31 loss
gelco corp said it signed a letter of intent to sell its canadian courier unit gelco express ltd to air canada for about 54 mln dlrs us it said consummation of the transaction depends on execution of a definitive agreement which is expected in may
it was priced at 8122 pct and lead managed by nomura international
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 company today reported a loss for the year ended november 30 of 413021 dlrs on revenues of 600971 dlrs compared with a loss of 163932 dlrs on revenues of 665800 dlrs a year before
jack kemp r ny at a hearing shultz said he was unaware that the commerce department was preparing to grant export licenses for the sale of computers
britains visible trade deficit narrowed to a seasonally adjusted provisional 224 mln stg in february from 527 mln in january the trade and industry department said
dimis dmisc extends warrant expiration
rain was heavier than expected over the weekend sparking an early selloff in soybean futures at the chicago board of trade
moodys investors service inc said it downgraded the debt ratings of baker international corp and upgraded hughes tool cos debt
commenting on a texas court of appeals ruling which reduced pennzoils judgement by two billion dlrs to 91 billion dlrs texaco said it will file a motion for a rehearing by the appeals court no later than march 30
he estimated the profit potential for his company on the sale at five to six pct
but when youre dealing in un alloyed ingot its a commodity business where there are a lot of tools available for hedging and alcoa is using all of those tools said al posti alcoas manager of corporate news
mhi is now heading up five japanese companies seeking to develop the countrys own fighter plane to replace the currently used f 1 support fighters in the late 1990s
elimination of investment tax credits approximately offset gain from change in pension accounting company said
it will remain very edgy money
funaro was in britain on the first leg of a tour of european capitals to explain the motives of the brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations
it said residual fuel stocks fell 380000 barrels to 3804 mln from 3842 mln barrels
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
arco said the 50 cts increase brings its posted price for west texas intermediate the us benchmark grade to 1900 dlrs a barrel
interest rates fell sharply and wall street became a one way street up
of the total 2059400 shares are held by gamco investors inc and gabelli funds inc
us meat poultry inspection called faulty
the central banks monetary policy has already done its part in stimulating the economy the senior bank official said
in february 1986 the output index had stood at 1037 producing a year on year rise for february 1987 of 04 pct
philippines says debt pact better than mexicos
as a result exposure relative to capital has fallen and few now fear for the collapse of a major bank
rather than translate those into their own currencies and suffer exchange rate risk they buy dollar denominated instruments michael said
conoco which has completed geological prospecting for the tunisian government has transferred one third of its option rights in the region to ina it said
asamera inc asm year loss
midivest said it expects to sell 10 to 20 of the renovated beechcraft planes next year
cuts of two billion dlrs would be insufficient against the backdrop of a 12 billion dlr government deficit and a 14 billion dlr current account deficit it said in its monthly business indicators publication
calstar inc csaro year april 30 net
aancor unit files amended registration statement
proposals on how to value securities given by a debtor as collateral to a credit were slightly changed the paper showed
yao liu president of chi shun hwa steel co a leading shipbreaker and steel producer in kaohsiung told we expect to scrap fewer ships this year because of an expected decline in our steel product exports lin said many breakers predicted a 20 pct decline in scrapping operations this year due to falling demand from the us japan and southeast asia for taiwanese steel
timberline industries inc timbo 1st qtr net
but it said receipts of solid material which had accounted for the majority of the revenue at the site could be restricted until 1988 pending resolution of capacity issues in the panoche site permit
a british spokesman said radiation monitoring equipment remained in the embassy waiting room for british residents in moscow who wanted to check their food but laboratory tests had not been conducted for several months
baker said the us would re examine the february louvre accord to stabilise currencies reached by leading industrial democracies
enrollment in the us agriculture departments fourth conservation signup is expected to be announced tomorrow and usda officials said the figure may be higher than total enrollment for the first three signups
shr seven cts vs one ct net 178919 vs 34429 sales 3148420 vs 1912438
such scrip issues if they occurred would mark the first time german banks had ever issued free shares
today we still have lower interest rates than at the end of 1986 quite the contrary of other countries where interest rates have risen substantially more poehl said
1985 operating net for the quarter and year includes a pretax gain of nine mln dlrs from the sale of two divisions and a loss from discontinued operations of 285 mn dlrs in the quarter and 37 mln dlrs in the year
based on the previous january figures issued on february 9 wheat exports increased by nearly 64000 tonnes and barley by about 7000 tonnes
samjens has made a hostile 77 dlr per share takeover bid for burlington
company profits and the stock market are rising
no other details were available
when vw first confirmed the currency scandal on march 10 it said the management board would propose an unchanged 10 mark dividend to the supervisory board
patrick petroleum ppc to buy bayou
sunshine mining co 4th qtr shr loss 64 cts vs loss 57 cts
the bank of japan intervened just after the tokyo market opened buying dollars at around 14765 yen dealers said
feed compounds balancers and concentrates produced in britain in the five weeks ended january 31 totalled 973400 tonnes against 966200 tonnes produced in the same 1986 period ministry of agriculture figures show
sudan took 19327 tonnes and west coast africa 4130
the sale includes the rights to germaine monteil in north and south america and in the far east as well as the worldwide rights to the diane von furstenberg cosmetics and fragrances lines and the us distribution rights to lancaster beauty products
ganapin said three billion dlrs would be needed in the next two years alone to save five mln hectares of critically denuded land in the philippines
hillsdown buys bedding companies for 23 mln dlrs
baker told a senate committee that the administration would resist such measures as a general import surcharge sector specific protection such as import quotas for individual products mandatory retaliation and limits on presidential discretion in negotiating more open markets abroad and other trade steps
tandy tan 3rd quarter revenues up 12 pct
world bank to loan jamaica 104 mln dlrs
many former bureaucrats became members of the influential political group he added
the last issue for one billion marks carried a 6 1 4 pct coupon for 10 years with a price of 9965 for an issue yield of 630 pct
the bank of england said it provided the money market with a further 284 mln stg assistance in the afternoon session
olin corps olin hunt specialty products inc said it acquired image technology corp for undisclosed terms
wang said computer associates would continue to support and enhance both companies product lines but noted that the company will eventually weed out duplicate offerings
french household consumption which rose by 31 pct last year is likely to grow by just 11 pct this year and 15 pct in 1988 it added
he could sell grain on the free market at 560 yuan a tonne against only 70 yuan a tonne for sugarcane
eishiro saito head of top japanese business group keidanren spotted the dangers inherent in such contradictory views last november when he visited the european community
harris associates lp a chicago investment advisor said it raised its stake in centerre bancorporation to 508062 shares or 66 pct of the total outstanding from 427061 shares or 55 pct
talks are underway between financially troubled zaire and the international monetary fund imf aimed at rescuing the economy of the second largest nation in sub saharan africa
the group incurred a 1986 net loss of 37 mln stg against a 254 mln profit the previous year
oakley said no specific warning has been issued to us diplomats and americans living abroad in the aftermath of the us attack on the oil drilling platforms but many of our missions are on a high state of alert
the rise brought year on year inflation to 1977 pct compared with 2372 pct at end february 1986 and 2166 pct for the year ending january 1987
most operators overlooked intervention by the bank of japan to support the dollar against selling in favour of the yen by institutional investors and overseas operators dealers said
if most of the first quarter growth is inventory building and we cannot identify any improvement in export demand then there is the potential for softness in the second quarter agreed allan leslie of discount corp
endotronics inc halted at 1 3 4 on nasdaq pending release of a news report on monday said it was expecting substantial losses for the quarter ending march 31 1987 and the fiscal year ending sept 30 1987
lloyds shipping intelligence service said the british bulk carrier envoy 75453 tonnes dw was grounded at mile 190 in the orinoco river on october 16
the sale will also include the related marketing and distribution system for the refinerys products
they said banks are under pressure because of low returns on commercial lending and investments in government securities
the canadian government has called in a labor conciliator to try to hammer out a contract agreement between the two sides
apea had expected the government to make positive responses to detailed industry submissions seeking the removal of existing secondary tax disincentives to exploration and development the council said
a severe drought that summer in major producing states caused yields to tumble and final crop production to total only 42 billion bushels
leavitt sees 140 dlrs for the current quarter in part crediting significant benefits from the rca acquisition
the payment date is march 31
bfgs 1986 accounts were included in a prospectus for ambs capital increase which is to finance the insurance companys acquisition of 50 pct plus one share of bfg
the countrys other five smaller refineries owned by another state owned oil organisation petromin produced around 750000 bpd last year
australian crude oil and condensate output fell 76 pct to 23480 megalitres or about 147 mln barrels in the first nine months of fiscal 1986 87 ending june 30 the department of resources and energy said
shr 13 cts vs nine cts net 2062000 vs 1418000 revs 331 mln vs 269 mln nine mths shr 45 cts vs 33 cts net 7053000 vs 5156000 revs 955 mln vs 757 mln note share adjusted for stock dividends
analysts said there is concern about challenges to gencorps broadcast licenses for two television and 12 radio stations
an aide to usda undersecretary daniel amstutz who is reported to be strongly opposed to eep wheat to the soviets said that the shultz comments are consistent with what he shultz has taught for years as an economist but said they dont necessarily relate to the soviet union
japan may unemployment record 32 pct 30 pct in april official
labour negotiations in north america will play an important part in determining the direction of prices with contracts expiring end april at comincos trail and kimberley bc mine smelter and at doe runs herculaneum mo smelter
the securities will be listed on the luxembourg stock exchange and will available in denominations of 1000 and 10000 dlrs
adobe systems inc adbe 1st qtr feb 28 net
if not there is going to be continued fear that when pressure emerges on the dollar the fed will be forced to tighten
tractors malaysia holdings bhd 
remaining 18 pct of sealy is recorded as minority interest
total sales were 64100 down 15900
worldwide deliveries in the first two months increased eight pct to 57000
potential future increases in the replacement cost would be calculated using credit conversion factors based on statistical analyses by the staffs of the bank of england and us banking regulators
the agreement is subject to certain lender approvals and completion of formal documentation
pse inc pow 4th qtr
the practice of other governments using tied aid or mixed credits to promote exports has cost the united states lost jobs and lost exports the treasury said
spectra physics said its board approved the plan in order to encourage key operating personnel to remain with the company during the period of turmoil and uncertainty engendered by the ciba geigy offer under the plan the executives would be entitled to their cash bonuses if they stay with the company through august 29 but could receive them earlier if they are fired for reasons other than gross and willful misconduct or if they leave the company because their salaries have been sharply cut
he noted that the dollar firmed again in late us trading after the outcome of the baker meeting was published
sales 206 billion stg vs 220 billion
in view of the increase in our share price today i want to make clear that we have not received any bid approaches reeds chairman leslie carpenter said in a statement
under terms of the letter of intent degussa would contribute substantially to a three year exploration budget of 45 mln dlrs in return for a 50 pct interest in the venture
shr loss eight cts vs profit six cts net loss 669609 vs profit 530641 sales 949 mln vs 839 mln avg shrs 7934064 vs 8220797 nine mths shr profit 19 cts vs profit 55 cts net profit 1494218 vs profit 4486510 sales 2891 mln vs 2766 mln avg shrs 7930961 vs 8208033
but if south africa is perceived as lacking available supplies purchases of us corn may be further stimulated the department said
the partners in the study are neste oy celanese canada inc hoechst celanese corporation and trade mountain pipe line company ltd of vancouver bc the edmonton site was suitable because of the raw materials availability the proximity to pipeline transportation and the important capital and operating advantages gained by locating on an existing celanese canada site the statement said
his comments came after the government was formally urged today by a cross section of influential mps to take joint retaliatory action with the united states against japan
based on its financial expectations fifth third said the dilution in per share earnings for the merger will be negligible
spains fecsa suspends principal repayments
but at a cost of threatening the chancellor of the exchequer nigel lawsons policy stated at the end of the paris group of six meeting last month that he wanted to see sterling broadly stable about then prevailing levels market sources said
the company said 1987 got off on a much better footing than fiscal 1986 from which the company recorded a loss of 676 mln dlrs or 628 dlrs per share on revenues of 6414 mln dlrs
shr 22 cts vs 25 cts net 472000 vs 454000 revs 162 mln vs 152 mln avg shrs 2135315 vs 1835325 12 mths shr 71 cts vs 70 cts net 1393000 vs 1285000 rwevs 61805000 vs 55367000 avg shares 1960319 vs 1835325
france today repaid 2195 billion francs of short term currency intervention debt to the european monetary cooperation fund emcf the finance ministry said
the gains in manufacturing employment point to a very large increase in industrial production of between 05 and 07 pct said joe carson of chemical bank
one specialist for dresdner bank ag said a long dated foreign exchange forward transaction could for instance be brought under the same rule as a cross currency swap despite the fact that the risk may be entirely different
shr 285p vs 266p
stoltenberg not surprised by dollar reaction
polycast ptcc reduces spartech sptn stake
advanced institutional management software inc said it renegotiated its bank credit facility from a demand note to a 10 year term note with a 25 year payment schedule
the board did not consider it an official offer a continental materials spokeswoman said
the issue is available in denominations of 1000 and 10000 dlrs
to continue actively searching for potential acquirers inherently forces us to postpone the implementation of critical decisions which are part of the plan the company which has 4475930 common shares outstanding reaffirmed it expects to be profitable in the second half of the fiscal year ending september 30 1987
subsequent auctions to be held in the 1987 88 financial year would first be of up to one billion stg of long dated stock having a maturity of 15 years or longer and then of up to one billion stg of medium dated stock of seven to 15 years in maturity
he did not specify what types of loans venezuela would seek from the fund or the amounts involved
caterpillar inc in remarks delivered at its annual meeting in san francisco reiterated its expectation of a loss in the first quarter
but i note that whereas our higher offer was in cash ferruzzi apparently is still organising finance callebaut said
this drop was mostly due to a decline in opec crude production to around 155 bpd in february march from 165 bpd in january and to the seasonal drop in exports from centrally planned economies the iea said
about 60000 tonnes of harvested raw cotton may be spoiled by rain in tanzanias northern shinyanga region because it is stored in the open or in crude village sheds radio tanzania reported
hu said the current government securities market is rudimentary with the cpf holding three quarters of the outstanding debt and banks discount houses and insurance companies holding the rest
corroon and black cbl completes acquisition
f and m distributors operates 42 discount drug stores in michigan ohio illinois indiana and wisconsin
boston five chairman robert j
societe generale de belgique belbbr said the near doubling of net profits in 1986 was due in large part to the sale of shares in genstar corp
us distillate gasoline inventories seen lower
gordex mineral ltd said geologists located more than one mln short tons of gold bearing deposits 0057 ounces per ton at cape spencer
calculated on a three month moving average basis m 3 rose 44 pct year on year in the quarter based on december after rising 54 pct in the quarter centred on september
kindness nv a bahamas based firm owned by uk investor and bahamas resident john templeton said it has acquired 137900 shares of hausereman inc or 59 pct of the total outstanding common stock
together with expected progress in commercial bank discussions with argentina and we hope brazil this should add up to substantial new lending for the major latin debtors in 1987 baker wrote
the bank would as a result be more profit oriented in future developing for example more into investment banking keeping a tight rein on personnel costs and dampening expenditures on fixed assets
eighty one pct of the membership voted he said
kuwait may re register gulf tankers newspaper
sunter acquisition begins tender for allegheny international inc
its principal subsidiary is tigeral corp
as long as the groups stake is below five pct it is not required to disclose its further dealings in national distillers common stock
they said that if it stabilizes near there banks may not quickly boost their prime rates
overall earnings of non manufacturing companies will rise 118 pct year on year in the first half of fiscal 1987 after growing 98 pct in the second half of fiscal 1986 the survey said
rainbow corp ltd said brierley investments ltd bil is trying to disrupt rainbows planned merger with progressive enterprises ltd rainbow chairman allan hawkins said in a statement in our opinion bil have deliberately tried to create anomalies in the market prices of rainbow and progressive shares since the merger was announced the merger announced in february involves the formation of a new company astral pacific corp ltd which rainbow and progressive shareholders will enter into on a one for one share basis
harvard industries hava announces stock split
the company said it will lease the ships for three years and hold two additional three year options
the commodity credit corporation ccc switched five mln dlrs in credit guarantees to ecuador to provide for more sales of us vegetable oil the us agriculture department said
total estimated paddy output for 1987 would be between 90 and 110 mln bushels or 135 to 165 mln tonnes of rice
the contract to be signed by pdvsa and champlin petroleums parent company the union pacific corp unp will create a new joint venture called champlin refining
fried
maryland national mdnt files to offer notes
overland express over negotiates new debt
the currency was hovering around 7678 cts in early afternoon trading
investors increase stake in frost sullivan
investment firm ups france fund frn stake
it has said the auctions were suspended because it planned to introduce a modified system after talks with the world bank and the international monetary fund
defense secretary caspar weinberger said on monday the united states did not seek further confrontation with iran but we will be prepared to meet any escalation of military action by iran with stronger countermeasures
dart had offered to buy dayton hudson for 68 dlrs per share valuing the minneapolis based retailer at 66 billion dlrs
the measure sponsored by committee chairman patrick leahy d vt and sen
dirigisme direction is a basic fact of the french system from school onwards
negotiators at a united nations conference on natural rubber are making slow progress towards reaching an agreement delegates said
that year a tiny car from overseas germanys volkswagen beatle began to gain popularity
european industry and trade advisers have suggested as a compromise that the buffer stock have a maximum share that can represent non member cocoa and that it use the london futures markets existing differentials for different qualities
it said the interest margin over london interbank offered rates libor for the committed advances will be based on the total utilisation of the facility 175 basis points for up to one third 20 basis points for up to two thirds and 225 points for an amount above that level
shr nil vs nil net profit 24000 vs loss 66000 revs 235000 vs 93000 six mths shr nil vs nil net profit 40000 vs loss 153000 revs 394000 vs 99000
a government as a sovereign entity has dignity and prestige to maintain he said he had previously held that ecuador was obliged to make debt payments when crude oil was at 26 dlrs a barrel because the government had projected plans with crude prices at that level
and if we starve the nation of essential services there may be no one around to honour the debt aquino said her officials would try to get all 483 creditor banks to sign the debt rescheduling pact by the november 15 effective date
the company said its new posting for west texas intermediate crude is 19 dlrs a barrel
idc said the merger agreement also provides for payment of an equivalent amount in respect of employee stock options to be cancelled in the merger
the company said its property operations would increase substantially following the start of a joint venture deal with developers rosehaugh plc the defence costs against the 19 billion stg bid from dixons resulted in a 160 mln stg extraordinary charge
late in the month harper and row said its board had received expressions of interest from a number of domestic and foreign companies
the company drilled 17 wells offshore with 10 leading to the discovery of hydrocarbons although it is too early to gauge the commercial viability of these discoveries reid said
pcr makes high performance materials for a variety of industries
fitchburg gas fge plans to issue notes
for harvesting to resume as normal the rains would have to stop long enough for the soil to dry and allow farm machinery to operate
pdvsa vice president pablo reimpell said last week the first shipment of coal from the carbozulia project should be made during the final quarter of 1987 and would measure between 100 150000 metric tons
the lower production levels indicated saudi arabia the worlds largest oil exporter was insisting on getting opec official prices even at the cost of lower production the sources said
drs a warfare systems producer said it would make the transaction through a cash tender offer for all but not less than 51 pct of rospatchs outstanding common stock followed by a merger with rospatch a labels high technology and wood producer at the same purchase price per share
the company said shareholders of record on march 17 have 30 days to exercise rights for the notes
hutton lbo is committed to keeping the courier business its president warren idsal said
japan panel urges world economic adjustments
the transaction calls for the issuance of 1 1 2 shares of wichita common for each outstanding fountain share
the bank continued to sell some of its exposure in 1986 and will also continue to stock up risk provisions he said
even prices of light mideast grades such as qatar and abu dhabi crudes are expected to improve from recent weak positions 15 to 20 cents below their gsps
it said that a turnaround in investor confidence since last november had been spurred by a moderate improvement in oil and commodity prices and a rise in manufacturing exports
bennett said west germany britain the netherlands denmark and portugal oppose the tax but italy and belgium seem to have taken a hardline view on the issue
sogenals privatisation will be preceded by a capital increase to 320 mln francs from 263 mln earning about 250 mln francs in new funds
the treasury said sales of ee us savings bonds were 17 pct higher during march at 703 mln dlrs than in march 1986
citic to issue 30 billion yen bond in tokyo
when wholesale prices go above the ceiling the lipc releases its beef stocks both domestic and imported and buys locally produced beef when prices are below
japan buys 8000 tonnes of canadian rapeseed
rha was to leave later today for ottawa for trade talks with canadian officials and businessmen
peoples ban corp peop sees 1st quarter net up
uk money market gets 347 mln stg afternoon help
iraqi president saddam hussein carried out his first major government shakeup in five years tonight naming a new oil minister in shuffling three posts
they expressed concern about the 07 pct decline in consumer spending in the final quarter of 1986 but said it was only temporary as exceptionally warm winter weather had depressed retail sales
greyhound said gli is authorized to continue using the familiar running dog logo on a red white and blue shield while greyhound corp will continue to use the running dog alone as its symbol
but whether the banks are ready to endorse the pins concept right away still hangs in the balance
dufour said the company has been negotiating with many us textile companies but would not say whether burlington industries was one of them
sales would in such circumstances go up to six billion crowns from 365 billion in 1986 it said
us 70 mln in two year fixed rate notes priced at par and bearing interest at 14 pct per annum
union texas said its fourth quarter loss was increased to 295 mln dlrs from 215 mln dlrs reported previously and revenues reduiced to 214 mln dlrs from 228 mln dlrs
earlier schlesinger told a press conference that the bundesbank would continue its policy of maintaining short term interest rates at a low level for currency stability
on tuesday it rose 1 3 8 to 31 1 2 tuesday
xuto described the negotiations as by no means easy and we often faced problems the new pact is due to enter into force provisionally when ratified by countries accounting for 75 pct of world net exports and 75 pct of net imports
this could under certain circumstances release new inflationary fears which would then be more likely to lead to higher interest rates he added
traders in the region meanwhile said prices might be pressured by the new pact in the long term as its potential to stabilise prices and buffer stock capacity would spur producers to produce more
the proceeds will be used for investment purposes the company said
it said seven holes averaged 0185 ounce gold a short ton and 18 ounces of silver with the seven intersections averaging 118 feet in thickness beneath 25 feet of overburden
the proposal is a response to overseas calls for japan to liberalise its markets in the trend towards global trading
consumers power cms to redeem bonds
full ownership would enable investment and operating decisions to be made without the limitations of a minority interest
a key factor behind the advance was anticipation that inflation will be the only way for the major industrial nations to halt the slide in the value of the us dollar said steve chronowitz director of commodity research with smith barney harris upham and co in new york
options which meet herringtons criteria include loan price guarantees to shield banks from defaults by borrowers because of lower oil prices
compared with a year earlier the index was down 07 pct due to lower vegetable fuel oil and utility costs
powell who said he has already spent 609831 dlrs on his qed stock said he plans to buy more shares as long as he considers them to be undervalued
meanwhile nakasones ruling liberal democratic party ldp is to consider measures to boost imports and open up the japanese market such as government purchase of supercomputers and expanding foreign access to the kansai airport project party sources said
but there was no sense of urgency they said and brazil had made no appeal for bridging loans from the bis or central banks
textron inc said it plans to sell its avco specialty materials division as part of its debt reduction and restructuring
kuwait has agreed to charter tankers from the soviet union in a move to protect its oil exports through the mideast gulf diplomatic sources said
moodys pointed out that while the seven year notes would be unsecured obligations of holiday inns the issue would benefit from a negative pledge provision and a call for specified collateral under certain circumstances
shr 36 cts vs 35 cts net 7100000 vs 8000000 net premiums 612 mln vs 580 mln avg shrs 19950000 vs 22760000 nine mths shr 103 dlrs vs 181 dlrs net 213 mln vs 378 mln net premiums 1763 mln vs 1418 mln avg shrs 20682000 vs 20920000
lawsons attitude was interpreted by banking sources as a clear rebuff to brazilian hopes of obtaining official cooperation in resolving its external debt crisis
allegheny international inc said its chairman and chief operating officer will remain in their positions following the merger of the company with an affiliate of first boston corp
chinas state and collective firms do not have enough cash to operate imported equipment so banks will issue more bonds to raise funds a chinese bank official was quoted by the china daily as saying
a group of firms led by ps group inc psg said it increased its stake in airlease ltd depositary units representing limited partners interest to 700400 units or 151 pct of the total outstanding from a previous figure of approximately 651000 units or 14 pct
i think if he were to do it again he would do it very differently said one source
any acquisition candidate would have to have a different economic cycle than copper substantial earnings and good management he said
the companys implied senior debt rating is bb
discovery west plans convertible note issue
national mutual royal bank ltd said it would cut its prime rate to 1775 pct from 1825 effective april 27
commissioner ramon diaz said at the time the government would not allow a subsidiary to buy into a parent firm adding san miguel could have offered the shares to other parties
lacombe refused to say whether the farmers felt that guillaume was doing a good job as farm minister
to some however the need for added capital is puzzling
colombia opened coffee export registrations for april and may with the national coffee growers federation setting no limit gilberto arango president of the private exporters association said
the securities are non callable for three years
banks minimum reserve holdings at the bundesbank totalled 536 billion marks on monday averaging 540 billion over the first nine days of march
correction march 30 yugoslav trade falls in belgrade item of yesterday yugoslav trade falls in 1st qtr on year ago please read on page one this year current exchange rates were used for the first time instead of a fixed rate of 26453 dinars to the dollar corrects from 2453
csr ltd csras and exxon corp xon unit esso exploration and production australia inc said csr has agreed to sell its delhi australia fund daf to esso for 985 mln australian dlrs
at least two mln silver coins and several hundreds of thousands of the gold coins will be minted he said
us real earnings rose 06 pct in february
shr 16 cts vs 16 cts net 566000 vs 563000 sales 142 mln vs 9831000
offers are due by 1550 hrs edt april 13 and will remain valid until 1000 hrs edt april 14 the agent said
quaker said the credit line will be used to finance expansion plans
van ommeren acquires dutch gas container unit
australian government must cut spending anz says
for oecd states the increase was 07 pct but the january level of retail energy prices was still 116 pct lower than a year earlier the oecd said
subsidized wheat to the soviet union is still not a foregone conclusion the state department official said
the bonds will be sold in denominations of 5000 and 10000 dlrs and listed in luxembourg
but it said it could also receive a break up fee of 30 mln dlrs if the deal fails for reasons which include another party holding more than 40 pct of its stock or tendering for 50 pct
de los angeles told the sec the companys retained earnings of 133 billion pesos would be wiped out by the purchase of the shares and would prevent the declaration of dividends
moodys investors service inc said it downgraded 50 mln dlrs of debt of allied bancshares inc and the lead bank allied bank of texas
first bank which announced plans in 1985 to restructure its banking assets by offering to sell 28 of its banks with a total of 45 offices said agreements have now been signed for 43 of these offices
it said the mine will operate at a rate of 626000 tons of ore per year with higher grade ore being mined in the first three years for a rapid payback of capital costs
toshiba corp tsbat and sharp corp shrpt decided to maintain exports of lap top personal computers to the european community ec at last years levels despite the halt of shipments to the us company spokesmen told 
an attack on a warship is a cause for war but he added we are not in a state of war
mining minister jaimie villalobos told in la paz that bolivia expected to export about 9000 tonnes of tin in calendar 1987
top qualities sought on hamburg coffee market
gao is preparing the certificate study at the specific request of sen
the price is unlikely to fall much below 380 or 390 dlrs an ounce and probably will continue in a range between 380 and 430 dlrs in the first half of this year he said
inc told he remains hopeful that brazil and its foreign bank creditors will reach a debt rescheduling agreement before the end of the year
but he added the company was not opposed to greater competition
they wind up with 7 8 over eurodollar rates and who wants 7 8 really its nothing
its new leader gennady kolbin has said that at times the grain growing republic has performed so badly that it has been obliged to seek grain supplies from national reserves
greece will hold a buying tender on april 8 for reply by april 10 for 40000 tonnes of white sugar from ec member countries for delivery in four equal tranches in may june july and august traders said
amt is appealing on all points and has said it is important for the court to accept that a winding up petition is a move to enforce an arbitration ruling
the company said a definitive agreement is expected to be executed by may 15 and the transaction is expected to be completed by year end
south korea signed with japan for a 446 billion yen credit facility part of a four billion dlr aid package for south koreas economic development plan to 1988 foreign ministry officials here said
qtly div 20 cts vs 20 cts in prior qtr payable june 10 record may 22
fed expected to add reserves via customer rps
the world bank said it has loaned uganda 13 mln dlrs through the international development association ida the banks concessionary lending affiliate
the talks held annually at sub cabinet level to review the whole gamut of us japan economic relations will pave the way for american secretary of state george schultzs one day stop over here at end week on his way home from china
although industrial sales were up the companys yearend report said total sales were 8409 billion crowns against 1985s 8619 billion
seguel a christian democrat and chiles best known union leader said he was forced to step down after repeated court actions brought by codelco prevented the union from operating
floods and avalanches killed 110 people and caused around 350 mln roubles worth of damage in the southern soviet republic of georgia earlier this year the government daily izvestia said
non callable for life the issue is rated baa 2 by moodys and bbb plus by standard and poors
baker said those nations were stimulating their economies in a manner consistent with gains against inflation
indonesian oil minister subroto said today that opec production was below the 158 mln bpd quota agreed to last december but he gave no details on opec production against claims it was more at least one mln bpd above that level
the company said the action is effective immediately
purolator today declined comment on the emery offer and its chairman nicholas brady did not return a phone call
imports have suffered slumping from around 800 mln dlrs to 200 mln as credits ran out
speaking two weeks after a us warship was attacked in the gulf mosar warned an escalation in the gulf would increase tensions in the oil market but i do not want to be alarmist he told a news conference after an ec energy ministers meeting in luxembourg
he told a lower house budget committee in parliament that it was natural for other nations to think that japan is not doing enough because of the delay in the passage of the 1987 88 budget
treasury secretary james baker asked whether he was concerned about yesterdays precipitous decline in bond prices said he was not
it bases this on a fall in exports as a result of the probable re introduction of quotas by the international coffee organisation
panchos mexican buffet inc pamxo 4th qtr net
some reports are going to look bad and some good but first quarter gnp is going to grow in the middle at about three pct a 287000 gain in services employment comprised the greater part of februarys employment gain
south korean foreign trade minister rah woon bae said his countrys firms have agreed to buy 18 billion dlrs worth of us goods during his two week buying trip to the united states
uk money market deficit forecast at 800 mln stg
world prices have less impact in italy than in france or germany as it is traditionally not an exporter but is geared to the domestic market an official at the national beet growers association said
in a filing with the securities and exchange commission the group said it sold 380000 ccx common shares on october 15 at four dlrs a share
occidental oxy sells unit to henkel kgaa 
he had said earlier in washington that current exchange rates were within levels implied in the february paris currency accord
simpson industries inc smpso 3rd qtr net
hf ahmanson and co ahm qtly dividend
paper says us trade deficit cut to 1365 billion
winland electronics inc 4th qtr loss
arden group ardnao plans issuer tender
ec approves 25000 tonnes of barley exports
pitt des moines pdm gets qualified audit
the crucial question however is how soon either of these developments is likely to occur kaufman said
xerox corps affiliate rank xerox ltd said it signed a definitive agreement to sell its rank xerox south africa pty ltd affiliate to altron group alrno for undisclosed terms
american debtors still talking
the two delegations appear to be near an agreement on the figures dumas a close aide to president francois mitterrand earlier this week met iranian charge daffaires in paris haddadi gholam reza
antar the reclusive founder of the chain in the new york city philadelphia and connecticut areas said last month that his group controlled 14 percent of crazy eddies shares
the fourth quarter loss was affected by an abnormally high inventory shrinkage lower than planned sales and higher markdowns related to increased promotional activity all of which reduced fourth quarter gross margins the company said
royal trustco ltd in a move unique among canadian trust companies is pursuing a bold global expansion that could someday lift the foreign share of its yearly earnings to 50 pct president michael cornelissen said
the price index for sales of manufactured goods in the uk rose a provisional unadjusted 03 pct in march after an identical rise in february department of trade and industry figures show
share dealers said some of the weakness on the bourse recently probably has been due to the amount of money tied up in glaverbel applications
us business loans rise 377 mln dlrs
midway airlines mdwy sets holder rights plan
the company said third quarter earnings will be released in the latter part of april
loctite corp said it expects third quarter earnings to be higher than security analysts forecasts of 75 to 80 cts a share
main ec destinations were italy with two mln tonnes versus 19 mln belgium 500000 tonnes one mln netherlands 500000 600000 west germany 500000 800000 spain 300000 zero britain 300000 700000 greece 200000 300000 and ireland 100000 200000 in flour exports totalled 980000 tonnes up 65 pct on a previous 920000 tonnes
parent pretax profit 182 billion marks vs 162 billion
qtr ends feb 28 shr 10 cts vs 17 cts net 411275 vs 584118 revs 4977818 vs 4714581
it issued no further details
the funds will be partly used for the conversion or repayment of an 80 mln franc 4 3 4 pct 1972 87 bond maturing on april 15
herstatt creditors are seeking 125 mln marks from dattel whom they accuse of causing losses at the bank of over 500 mln marks by manipulating forward foreign exchange contracts
interalumina which makes the intermediate material alumina had an increase in profits from 116 to 217 mln bolivars alcasa earned 487 mln bolivars as compared to 1985s 412 mln and venalums profits rose by around half from 1042 to 1504 bln bolivars
shr two cts vs three cts net 21080 vs 35393 revs 2026017 vs 2476068 nine mths shr five cts vs six cts net 48567 vs 59527 revs 6231242 vs 6519473
he named them as us protectionist behaviour curbs on technology transfer and out of date trade legislation
the new inra is to replace the current one which expires in october
the bond are payable april 23 1987 and are available in denominations of one mln yen
interdyne co idyn 1st qtr feb 1 loss
the only other major eurocredit a 500 mln dlr deal under the agency of gulf international bank was signed in october 1985 and is still in a two year grace period
it said it expects another 277 mln dlr gain in 1987 from the sale of the remaining shares
contrary to the diw and ifo the three institutes said that while exports would continue to be the weak point of the economy in 1987 there is good reason to believe that exports will soon bottom out and that a slight rise will emerge during the course of the year they predicted an overall 05 pct fall in exports in 1987 the same as in 1986
centel corp said it completed the sale of its water properties serving 8000 customers in four southwestern kansas communities to central kansas utility co of columbia mo
qtr and year current excludes foreign tax 312000 and 1179000 respectively which payment would have been required in the absence of foreign operating loss carryforwards from prior years
anz bank sets one for two bonus issue
this rise reflected industrys need for equipment to raise production and is perfectly compatible with the governments program for economic growth fendt added
in a filing with the securities and exchange commission the group also said it is considering an informal offer made by scandinavia fund president bjorn carlson on march 31 which would grant it representation on the companys board
the company said the deal is subject to the execution of a definitive purchase agreement
it said it did not know when distributions would be made
oper shr profit four cts vs loss four cts oper net profit 151448 vs loss 170709 sales 115 mln vs 9581406 note prior year net includes 123650 dlr tax credit but excludes 52409 dlr gain on early debt retirement
following legal proceedings by private importers lisbons civil court decided in a preliminary ruling earlier this month that epac should not be allowed to take part as it had done in tenders for the liberalised share of annual grain imports
the fso figures showed total exports from january 1 to march 23 valued at 87559 billion dinars compared with 66718 billion dinars in the same period last year
westlb international said it plans to expand its range of services for private clients
the airport is due to open in october and is only a 20 minute taxi ride from the capitals financial district the city compared to an hour to get from the city to the nearest existing airport heathrow
if anything im a little bit less concerned but there is still a risk he said
prime minister yasuhiro nakasone intervened to try to resolve japans escalating dispute with the us over semiconductor trade government officials said
a new rabobank mortgage bond whose terms dealers considered extremely generous was in heavy demand on the amsterdam bourse today bond dealers said
dalton communications inc dalt 3rd qtr jan 31
he said the ec standard of 002 parts of aflatoxin per million parts of meal which ec countries had been asked to apply by october 1988 was too rigid
raytech corp said it acquired raybestos industrie produkte gmbh for 75 mln dlrs
but argentina did not suspend interest payments on its foreign debts as neighboring brazil did last week
central bank president francisco gros said possible retaliation by brazils creditors would not be an intelligent measure because it would affect both sides
but their position seems to be hardening the source said
gates learjet corp glj 4th qtr loss
he said final quality approval for all the sugar offered could come later this week
baker said spending cuts are clearly the best way to cut budget deficits
for 1986 as a whole the profitable firms had a net income of 92 billion dlrs up from 73 billion dlrs in 1985
in a speech sunday published in todays official paper granma castro said unseasonable rains since january seriously interrupted harvesting and milling operations especially in the central and western parts of the island
banner industries inc bnr completes purchase
the stock should settle back down to around 76 he added
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
westpac in nz raises indicator lending rate
several shells fell in a random manner on the northern border of the country the official told kuna
the new bid was contained in a letter to the supermarkets general board
it said it retains 37 medfirst offices mostly in the chicago area
tapioca usage fell 91 pct to 14 mln tonnes from 16 mln in the first half of the 1985 86 season
us officials had been meeting on a response since friday when an attack on a kuwaiti port severely damaged a us flagged ship
the year on year rise for expenditure gdp was 23 pct with the expenditure index for the whole of 1986 set at 1119 against 1094 a year earlier
analysts said six individual swiss noteholders who initiated legal action against dome to recover debt of 408500 dlrs will also be pressed to adopt a more lenient stand by the 1986 results
burr brown corp said its first quarter 1987 results will show profits significantly below the 1058000 dlrs or 11 cts per share earned in the first quarter last year
they were down 116 pct from february 1986 the department said
it said the rights are exercisable if a group acquires 20 pct or more of its common stock or announces a tender offer for 30 pct or more of its shares
may midmississippi river dubuque south bid 2 1 2 points higher at 142 1 2 pct offered at 145
a bundesbank spokesman said the central bank would have no comment on the reported remarks made at the private meeting
qtr 1987 includes 446000 dlrs or 20 cts per shr extraordinary charge due to duction in utilization of tax loss carryforward
showa aluminium issues 100 mln dlr warrant bond
the international development association said it approved a 114 mln dlr credit for india to support several water irrigation projects
rexnord said the sale is part of a major program to divest several of its businesses representing about 200 mln dlrs in net assets
west germany whose currency has not risen anything like the yen since the paris agreement appears from the face of yesterdays statement to have won acceptance from other countries that its exchange rate is acceptable
i think the president would rather wait till the new congress convenes after the may elections he said
he called for a new lending initiative with a wide menu of options as alternatives to pure new money
a strike by brazils 40000 seafarers who want pay rises of up to 180 pct may have cost the state owned oil company petrobras 20 mln dlrs in lost export orders the companys commercial director arthur de carvalho was quoted as saying in press reports
all per share data reflects a two for one stock split paid june 25 1986
new prices for 015 gm lead grades are 970 cents litre for 97 octane and 908 cents for 95 octane
dixons group plc said it bought about 2445000 cyclops corp common shares boosting its holdings of the companys stock to about 83 pct of those now outstanding and 79 pct on a fully diluted basis
bundesbank figures showed that banks fell back on the lombard emergency funding facility to draw down 15 billion marks yesterday as rates began to tighten in late business
the agreement envisages those fundamentals to include japan and west germany stimulating their economies and the united states cutting its budget deficit
burlington industries inc is raising 75 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 4 pct coupon and par pricing said lead manager kidder peabody and co inc
mts acquisition corps 28 dlr per share offering price for caesars world inc is thought to be much too low and is likely to attract other suitors for the hotel casino company industry analysts said
qtly div 18 cts vs 18 cts in prior qtr payable may one record april 15
kansas city power and light co klt shelf offering of up to 100 mln dlrs of mortgage bonds
dynamic homes inc dyhm 4th qtr net
another said the central bank seemed to be trying to push the dollar up above 150 yen
shell canada raises crude prices by 64 canadian cts bbl today at edmonton
texas international co said it has completed the previously announced 120 mln dlr sale of its domestic oil and natural gas reserves to total compagnie francaise des petroles it said on closing it used part of the proceeds to retire all 100 mln dlrs of its us bank and us senior debt and the rest will be used for general corporate purposes
sapporo breweries ltd of japan is issuing 100 mln swiss francs of five year notes with a 4 5 8 pct coupon and 100 1 4 issue price lead manager swiss bank corp said
sci med said it continues to believe the patent suit is without merit
black hawk mining inc said it knows of no major activities to account for the recent rise in the companys stock price
the exposure will be determined to exist for a maximum of 28 days following a binding commitment to underwrite
more firms have applied and the final tranche will be admitted on april one and trading is planned to start in early june on the new trading floor on commodity quay
agra industries ltd six mths jan 31 net
shr 14 cts vs seven cts net 348000 vs 135000 revs 6328000 vs 4117000 avg shrs 2558400 vs 1884200 nine mths shr 29 cts vs 20 cts net 640000 vs 313000 revs 120 mln vs 8719000 avg shrs 2226600 vs 15896000
cumulative purchases so far this season stand at 216095 tonnes still up on the 201966 tonnes purchased by the 21st week of last season the board said
she said klm would like the two courier services to cooperate in future and did not exclude a future merger between them to combine imls strong world wide network with xps mainly european activities
nine mths includes previously reported provision of 325 mln dlrs in second quarter for possible losses on ldc loans
american nursery products inc said it purchased miami based heinls nursery inc for undisclosed terms
energy prices for consumers were still nine pct lower than a year earlier it said
it said investors would have the right to require the company to redeem half of the issue during the 49th month of the term of the bonds and the remainder during the 73rd month
australia attacks us gatt farm rules exemption
late in the day the deal was quoted at less 1 1 4 bid
gander mountain sells brand name hunting fishing and outdoor gear through catalogs
at some point they will be more inclined to ease he said
china has raised the prices it pays farmers for cotton edible oil sugar cane and beets to reverse a decline in output in 1986 he kang minister of agriculture animal husbandry and fisheries said
the previous weeks m 1 level was revised to 7366 billion dlrs from 7367 billion dlrs while the four week moving average of m 1 rose to 7367 billion dlrs from 7350 billion
talks have been slowed by the fact that fundamental changes would require a revision of germanys credit law which has been in effect since 1934
the selling concession is one pct while management and underwriting combined pays 1 2 pct
chiles gross domestic product rose 57 pct last year to 188 billion dollars compared to a 24 pct rise in the previous year the central bank said
but the company said it expects to close the acquisition over the next 60 to 90 days
the turnaround in official transactions to a 152 billion inflow from a 555 mln outflow in the third quarter against a 520 mln inflow a year earlier was largely on account of government foreign currency borrowings it said
presidential spokesman marlin fitzwater made the remark one day before us and japanese officials are to meet under the emergency provisions of a july 1986 semiconductor pact to discuss trade and the punitive tariffs
singapore exchange plans options contracts
we in the asa are dedicated free traders
lerner said he accumulated the other one mln shares through march 3 and sold them to clevebaco lp which he controls on march 10 for 4010 dlrs a share
duriron co inc said it has completed the acquisition of valtek inc for 1175 dlrs per share following valtek shareholder approval yesterday
the dividend is designed to deter national computer or other potential suitors from preventing datacard from evaluating all alternatives to maximize shareholder value datacard said
chances of direct us iran gulf clash seen low
offsetting the decrease however is an authorization to increase fuel rates by 584 mln dlrs it said
lets face it
phoenix steel receives offer for claymont mill
because of the theoretical size of the dilution resulting from the outstanding warrants warrants convertible notes stock plan and acquisition earnout agreements the company said it will be required to report earnings per share on a fully diluted basis beginnng with the first quarter of 1987
good rains of one to four inches in the past 10 days have boosted moisture stressed sugar cane crops in the mackay burdekin region of queenslands central coast an australian sugar producers association spokesman said
the drop in may to a seasonally adjusted annual rate of 616000 units was the largest since january 1982 the commerce department said
bank of france sells tap stock
the company spokesman said the new york meeting will be held to inform the committee representing 72 banks of the latest developments on efforts to lobby the government
and many investing institutions such as pension funds and insurance companies still have excess cash he added
it said thomas nationwide will be combined with its systems leasing corp unit in maclean va
at this rate the greens creek mine will be the largest domestic silver mine and is expected to be one of the lowest cost producers the company said it estimates its total investment in the project including its share of preproduction costs at about 45 mln dlrs to be funded through internally generated cash and existing lines of credit
the seven contracts currently traded on the nzfe are five year government bonds the share price index 90 day bank bills 90 day prime commercial paper the us dollar crossbred wool and wheat
offshore investor has 59 pct of hauserman hasr 
the transaction is subject to approval by the montreal and vancouver stock exchange and the arrangement of financing by june 15
meanwhile disruption began today to cargo handling in the ports of sydney newcastle and port kembla they said
the selling concession for both deals is 1 1 2 pct while management and underwriting combined pays 3 4 pct
but western economic experts say the effect of sanctions is impossible to calculate
to become operational it will require ratification by countries accounting for 75 pct of world exports and 75 pct of world imports
bankers said the measure is designed to curb the inflow of foreign exchange and slow the growth of money supply
the problem goes deep and centres on misunderstandings by both sides over the key maekawa report of april last year
daniel mckinley oil analyst with smith barney upham harris and co said both physical and futures markets have been oversold and it only took a small spark to bring on a short covering rally he believes an iranian trade mission to tokyo which refused discounts to japanese buyers brought japanese refiners into the market to cover their short positions
it said it received a 3695465 dlr return of capital and 572406 dlrs in income on the sale and the 50 ct distribution would represent a 43294 ct return of principal and a 6706 ct capital gain and would be payable june 30 to holders of record may 31
the us agriculture department forecast australias 1986 87 wheat crop at 1670 mln tonnes vs 1730 mln tonnes last month
emerson emr sells new zealand dollar notes
shr 63 cts vs 50 cts net 738 mln vs 623 mln sales 6642 mln vs 6006 mln nine mths shr 206 dlrs vs 167 dlrs net 2412 mln vs 2059 mln sales 204 billion vs 180 billion avg shrs 1171 mln vs 1234 mln
the report of progress contrasts with official french statements last month after talks between deputy iranian finance minister mehdi navvab and the french finance ministry
the rise was attributed to a shortage of rubber available to manufacture this type
cato corp said it has filed for an initial public offering of about three mln common shares
he also forecast gdp would rise 28 pct in 1987
np energy npeeq says trustee appointed
citicorp said yesterday that its proposal would allow dixons to raise its tender price to 9325 dlrs per share
montreal trustco inc is issuing a 100 mln canadian dlr 8 1 2 pct bond due may 6 1992 at 101 pct lead manager societe generale said
penney chairman william howell said store sales were strongest during the early part of the month while catalog demand was consistently strong throughout the period
data med clinical support dmcso 1st qtr loss
the company collects flammable solvents from its industrial customers for a fee after which it analyzes and processes the solvents before they are burned
herrington also said he believed president reagan who requested the comprehensive national security study was committed to some action to help the ailing us oil industry
the year on year rise in february was 42 pct down from 45 pct in january and compared with 76 pct in february 1986
the repayment of capital and interest on this loan taken out during the strong pressure on the franc which preceded the european monetary system ems realignment and the subsequent group of five meeting in paris took place on march 13
neither have the government regulators indicated that there will be a problem
telxon corp said it expects per share earnings for its fourth quarter ending march 31 to be about 23 cts to 26 cts on revenues of 26 mln dlrs to 28 mln dlrs
the governors office said the possible action was triggered by a proposal by dayton hudson corp dh which has been the subject of takeover rumors
however if a subsidy is offered at competitive levels moscow would likely buy more he said
the bank of thailand said it has floated 500 mln baht of new five year loan bonds for public sale
cie bancaire also said it has increased its capital to 141 billion francs from 117 billion by the incorporation of 23774 mln francs of reserves
at the signing of the 40 mln dlr facility winston cox advisor to the central bank of barbados said he was looking to make greater use of the international capital markets to reduce the countrys dependence on multi national orgainsations
cavalier homes inc cavh 4th qtr net
the french sugar market intervention board firs raised its estimate of 1986 87 beet sugar production in the 12 member european community to 1376 mln tonnes white equivalent in its end february report from 1374 mln a month earlier
agency to review johnson johnson jnj sweetner
company based in mayaguez puerto rico
rank xerox xrx to sell south african unit
mickelberry corp said it has completed the previously announced sale of the 51 pct of its c and w group subsidiary that it had retained to n w ayer inc for undisclosed terms
commercial international corp said it has completed the previously announced acquisition of most of the assets of growers distributing international corp a table grape marketer for an undisclosed amount
underwriters away from the syndicate said they believed the 46 basis point spread over treasuries was aggressive
a proposal to require imported tropical oils be labeled on us food products failed by a 10 8 vote
shr profit four cts vs loss two cts net profit 247970 vs loss 57341 revs 2393622 vs 2627612 avg shrs 5958423 vs 2440100 year shr profit 71 cts vs loss 35 cts net profit 3213310 vs loss 849180 revs 14571434 vs 9099767 avg shrs 6177666 vs 2440083 note 1986 earnings include a loss from carryforward of investment tax credits of 85000 dlrs in the quarter and a gain of 250000 dlrs or four cts a share for the year
norgold will also have a 10 pct stake in the coronation hill gold platinum project in the northern territory and 43 pct of the poona copper gold project in south australia
the trustee is chase manhattan bank na and the paying agency is chemical bank the company said
shr loss six cts vs profit 22 cts net loss 133119 vs profit 496391 revs 136918 vs 737917 nine mths shr loss 21 cts vs profit 15 cts net loss 478991 vs profit 340210 revs 324011 vs 841908
net includes loan loss provisions of 75000 dlrs vs 30000 dlrs and gains on sale of securities of 756000 dlrs vs 2468000 dlrs pretax
trading corp of pakistan ltd said it had invited tenders up to april 11 1987 for the import of 100000 tonnes of white refined crystal sugar up to june
total reserves were revalued to 2704 billion dlrs but would have totalled 2415 billion under the previous valuation the treasury said
seaman furniture seam in stock split
smith international inc sii 4th qtr loss newport beach calif
qtly div 27 cts vs 27 cts prior pay april 15 record march 25
sales rose 235 pct to 709 mln dlrs
unilever plc unas said a reduction in uk advance corporation tax act has prompted the company to adjust its 1986 final dividend to 3617p per share from the originally declared 3518p
the us japan trade dispute intensified last week when president ronald reagan said the us would impose heavy tariffs on japanese imports in retaliation against alleged japanese breach of the computer chip trade pact
shr 11 cts vs 17 cts net 26708 vs 35084 revs 447548 vs 243161 note1986 net includes 4300 dlrs gain from tax credit and 1985 includes gain of 8300 dlrs gain from credit
concerning the deregulation of att holland said he believed att should be given some flexibility but should be regulated on pricing plans theyre so dominant in the market place he said adding that att should be deregulated when there is true competition in the marketplace it takes time to prove ourselves and a lot of money he said adding maybe two to four years out its hard to say holland said he was not concerned about talk that sprints two owners might be squabbling or that corporate raiders such as the belzberg family in canada might be putting pressure on them to sell off their loss making sprint holdings
schroeder hohenwarth said economic policy now had to concentrate on strengthening this domestic growth
he noted that certain countries have already been removed from the list
if anything it has been exacerbated by recent events the inequities of the international economic environment conspire against the welfare and stability of developing countries petricioli added
the remaining one billion dlrs is in the form of a co financing with the world bank which will guarantee 500 mln dlrs
lloyds bank canada a unit of lloyds bank international plc said net profit soared to 3053000 dlrs for the first quarter ended january 31 from 9000 dlrs a year earlier
they said there were rumors the stock was under accumulation and speculation abounded the company would soon receive an offer
taft stock rose 2 7 8 to 155 3 4
it has also opposed a major management role in the planned merger for any non japanese overseas telecommunications firm on the grounds that no such international precedent exists
as a result the overall economic and financial situation improved markedly with inflation down to 41 pct last year from 100 pct in 1983
a fed spokesman told a press press conference today that the fed had no large net one day miss of two billion dlrs or more in its reserve projections in the week ended wednesday
current year figures exclude gain from discontinued operations of 752000 dlrs or 48 cts per share vs loss of 452000 dlrs or 23 cts per share
it said certificates representing additional shares will be distributed as soon as possible after april 10
miniscribe miny files to offer convertibles
asked in a television interview what the chance was for reagan to cancel the scheduled 100 pct tariffs on japanese electronic exports he said slim to none reagan announced on march 27 he would impose the tariffs to retaliate for japans failure to honor a 1986 agreement to end dumping computer semiconductors in world markets at less than cost and to open its home markets to us products
canadian investment including the buying of foreign companies stocks and bonds rose to 1253 billion dlrs from 619 billion dlrs in 1985
prime minister yasuhiro nakasone will visit washington next month in a bid to defuse mounting us anger over japanese trade policies but western diplomats said they believed his chances of success were slim
february fomc votes unchanged monetary policy
oper shr profit 32 cts vs loss 66 cts oper net profit 2454000 vs loss 3558000 sales 961 mln vs 914 mln year oper shr profit 72 cts vs loss 63 cts oper net profit 6495000 vs loss 1833000 sales 3681 mln vs 3221 mln note earnings exclude losses from discontinued consolidated operations of 460000 dlrs or eight cts a share vs 5364000 dlrs or 86 cts a share in the quarter and 11334000 dlrs or 182 dlrs a share vs 11637000 dlrs or 188 dlrs a share for the year earnings exclude a loss on the sale of discontinued consolidated operations of 200000 dlrs or three cts a share in the 1986 quarter and a loss of 4960000 dlrs or 80 cts a share vs a gain of 4404000 dlrs or 71 cts a share for the year note 1985 earnings exclude losses from discontinued unconsolidated operations of 5488000 dlrs or 89 cts a share in each period 1985 earnings exclude gain from termination of defined benefit pension plan of 490000 dlrs or eight cts a share in the quarter and 1438000 dlrs or 23 cts a share for the year
it would be his role to persuade international banks to cooperate in this process
the companys largest subsidiary georgia power co said the budget for the plant has increased by 63 pct or 522 mln dlrs to 887 billion
spectra physics rejects ciba geigy tender offer
privately held joe franklin productions inc said it entered into a preliminary agreement to merge with assets development corp a public company
trading surplus after depreciation 1457 mln stg vs 1581 mln investment and interest income 54 mln vs 38 mln interest payable 425 mln vs 439 mln profits from related companies less losses 238 mln vs 147 mln tax 514 mln vs 583 mln profit attributable to outside shareholders interests 126 mln vs 112 mln note extraordinary debit included charge for restructuring auto parts distribution in france and loss of 10 mln stg on sale of steel stock business
in fiscal 1986 the company earned 7206000 dlrs or 278 dlrs a share
the penalties would be retroactive to march 31
but dick van splinter president of rmjs competitor fundamental brokers incs london operations estimates average daily turnover is no more than four to five billion dlrs
cineplex odeon corp year net
it will also issue a 15 billion yen 10 year bond and a 10 billion yen six year bond through public placement both with nomura securities co ltd as lead manager
we want to see what the offer is completely and understand it fully and then fashion our response the spokesman said
but in an interview with conable said the action by the united states to slap tariffs on certain electronic goods from japan did not mean the countries were heading for a full scale trade war
suffield financial corp sfcp raises quarterly
us lawmakers are gearing up for a showdown between protectionists and free traders as a major trade bill winds its way through committees to a vote by the full house of representatives in late april
previously redstone offered eight pct interest
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
world bank president barber conable said he was confident brazil would come up with a debt plan and that the current suspension on commercial bank debt payments would be temporary
libya is reported to have recently bought two cargoes of white sugar from operators at around 229 230 dlrs a tonne cost and freight traders said
he said allis chalmers was selling out because it needed new cash after suffering big losses in its farm equipment operation
glickman noted that the agriculture committee must cut one to 15 billion dlrs from its fiscal 1988 budget and therefore must fit any soybean program changes into the overall budget
reports of the authorities actions helped the dollar recover to about 14945 yen in new york this afternoon from the post war low of 14820 yen in the far east
swiss unemployment edged down to 09 pct of the working population from one pct in january and in february 1986 the federal office of industry trade and labour said
sandoz ag sanzz would have reported a percentage rise in net profits close to double figures rather than the actual two pct had it not been for novembers warehouse fire a senior company official said
the coins will be the first ever denominated in the ecu the basket comprised of the 12 nation european communitys currencies except the spanish peseta and the portuguese escudo
but he said harper and row has plenty of beef to warrant a 50 dlr bid
norways wholesale price index base 1981 rose 05 pct in february to 1360 after a 17 pct rise in january to 1350 the central bureau of statistics said
transamerican has been operating under chapter 11 of the federal bankruptcy code since january 1983
us may end additional sanctions against japan
kuna also said the envoy had discussed the deployment of iranian missiles near the strait of hormuz with kuwaiti foreign undersecretary suliman majed al shaheen
shr 78 cts vs 116 dlrs net 67 mln vs 95 mln revs 278 mln vs 290 mln
this number would be doubled with the addition of the equity warrant operation an even more important element in the current market environment he said
yugoslav economy worsened in 1986 bank data shows
powers said the state has asked for additional noise data for the sale area off alaskas north slope
irving has about 500 mln dlrs of debt outstanding
yesterday in london lead underwriter painewebber group inc pwj announced a planned offering of 75 mln dlrs of atari convertible debentures due 2002 with an indicated coupon of five to 5 1 4 pct
investor sells 10 pct rb rbi stake
it has 73 employees at its lexington facility four branch offices in the midwest and one in new york
but she later said such a move depended on other ems countries scrapping residual capital controls
the company emphasized the first quarter is a traditionally slow period for the ferry industry which is part of sea containers business
they are more appropriately today looking more optimistically
shr 70 cts vs 61 cts net 2002 mln vs 1739 mln sales 138 billion vs 126 billion nine mths shr 187 dlrs vs 154 dlrs net 5356 mln vs 4378 mln sales 404 billion vs 363 billion note share adjusted for two for one stock split
we are subsidising the production of mineral coal and steel to an enormous extent and at the same time putting a huge burden on all other branches of industry and making them uncompetitive he said
in particular he told an american stock exchange conference a decline in the dollar below current levels would exacerbate financial market conditions
chronar crnr in joint venture in yugoslavia
good growing conditions the following year produced a temporao of 312 mln bags just below the 1983 317 mln bag record while last years output which also suffered some drought damage was 277 mln bags
equiticorp hk unit to raise 30 mln us dlrs
franklin federal tax free income fund payout
jiji quoted the sources as saying that current bond market yields are similar to short term interest rates due to excessive speculative operations
lomas lnk shareholders approve acquisition
but if the soviets are worried about their winter crops and if they feel that last years huge crop of 210 mln tonnes was a one time fluke brought on by perfect conditions more soviet buying might occur to insure crop supplies he said
shr 87 cts vs 62 cts net 2604000 vs 1856000 sales 727 mln vs 646 mln nine mths shr 271 dlrs vs 197 dlrs net 8121000 vs 5834000 sales 2157 mln vs 1930 mln
showboat sbo gets approval for low bet day
the company since has granted trackage sharing rights to four western railroads to meet the iccs concerns and persuade it to reopen the hearings in its three year old struggle to merge the lines
the bank canadas fourth largest said it expected its listing to occur later this year
argentine vegetable oils shipments during january december 1986 totalled 1796121 tonnes against 1577722 tonnes in the same period of 1985 the argentine grain board said
franco nevada says stock rise due to drilling
a source close to general partners however said general partners would apply to the federal communications commission for special temporary authority to hold the broadcast stations
lesley nickolds of county securities asia ltd said she saw no major shipping writeoffs in 1986
one attorney said sec probers also were examining whether sugarman and drexel had made adequate disclosures of its intended usage of the proceeds in the prospectus for the 35 mln dlr bond offering
that was up from 2255000 the previous week
baldrige says us to impose japanese sanctions
phh group inc said it acquired two design firms for undisclosed terms
base rates are now at 10 pct
the index now stands at around 664 a marked improvement in the balance of payments is forecast the nzier said
oii holdings corp a company formed by kohlberg kravis roberts and co said it received and purchased about 583 mln shares or 96 pct of owens illinois inc common stock and 50275 of 475 dlr cumulative convertible preference shares of owens or about 83 pct
the company blamed the expected loss on regulatory and permitting issues that limited the full utilization of hazardous waste treatment cites in califoirnia continued startup delays for major remediation projects the writeoff of an investment in a subsidiary and a settlement with the california attorney generals office and department of health services
the spokesman said mondays float included 500 mln dlrs in holdover float at one fed branch due to mechanical problems
montedison acquires arco research unit
currency fluctuations may reassert their influence on the bullion market in the near future bullion bankers samuel montagu and co ltd said in a market report
last year the ec had a five billion dlr trade deficit with east european states about half the deficit of the previous year due to a drop in the price of soviet oil imported by the ec
nz weekly t bill tender set at 80 mln dlrs
shr loss 22 cts vs loss 18 cts net loss 2494000 vs loss 1608000 revs 3590000 vs 1710000 year shr loss 68 cts vs loss 53 cts net loss 7318000 vs loss 4160000 revs 10503000 vs 7134000
the poll conducted by newsweek magazine said 53 pct of the respondents gave reagan a negative performance rating nearly double his disapproval rating before the iran contra scandal
they cautioned the fed board to take account of the potential impact of the plan on the ability of us banks to compete in world financial markets
there is a put and a call option in 1990 at par
central which operates 46 branches has been under management guidance of the fslic since may 1985
a price of around 15 dlrs a share would be considered fairly attractive annesley said
the agreement extends a standstill arrangement expiring june 30 that has been in place since august 1985
many speculators down here bought march soymeal and sold may looking for no deliveries on first notice day tomorrow which would cause march to gain on deferreds one cbt crush trader said
he said that japan had made an additional 450 mln dlr pledge to the international development association an indication that it agrees that it must provide more help in line with its economic position
belgium cuts treasury certificate rates
rai research corp rac 3rd qtr feb 28 net
initials plus iinc sees sharp sales increase
fluegel said his delegation had received a negative response from the italian agriculture ministry but that the attitude of the foreign ministry appeared more realistic he said the proposed tax was discriminatory against us farmers since it was basically asking them to help finance the ecs common agricultural policy cap on oilseeds
but a senior central bank official told that as far as he knew the idea was not being seriously considered now either in the us or in japan
company stocks on land in the oecd rose to 326 mln tonnes on april 1 against 316 mln on april 1 1986
abes visit is to prepare for prime minister yasuhiro nakasones talks with president ronald reagan later this month
there is little cause for concern with better weather forecast and the capacity available to drill the contracted area of around 200000 hectares in about 10 days
as long as the groups stake remains below five pct it is not required to disclose further dealings in material sciences common stock
stoltenberg said west germany had a keen interest in a swift agreement between the us and japan concerning the current trade dispute over semi conductors
in the year to end october rank reported a rise in pretax profits to 1641 mln stg from 1360 mln previously
the bank said that it would not sell by any method stock of the same type as that to be auctioned between the time of the announcement of auction details and a period ending 28 days after the auction itself
i dont think there is any interest in pursuing a decoupling bill this year
african development bank loans rose 42 pct in 1986
ec could decide on japan trade moves in late may
second national building snbl raises dividend
together these activities account for over 180 mln french francs in annual sales and employ 170 akzo said
male unemployment in january remained at 29 pct equal to the second worst level set last december
well make some progress in reducing the 170 billion dlr trade deficit in 1987 but theres still a long way to go yeutter said
some add the bank will be influenced by signs that at least a proportion of the latest bout of sterling buying is long term capital coming into the london market notably from japan
senate finance committee chairman lloyd bentsen said the resolution may jeopardize the viability of the proposed free trade agreement between the two countries which are each others largest trading partners
sims said the bonus was 4244 dlrs per tonne and shipment was scheduled for june 20 30 1987
kansas city ksu ready to buy southern pacific
those buying 100000 to 250000 dlrs pay 9960 for a yield of 752 pct or 53 basis points over treasuries
he also told reporters he hoped the community could deal with another controversial health proposal that would forbid the feeding of hormones to cattle which is also opposed by the united states
i think one will find that the banking community the brazilian government and the international banking authorities will be talking for the next several weeks and i am very hopeful that we would find an accommodation rockefeller told bankers at a luncheon
shr profit 11 cts vs loss 24 cts net profit 224271 vs loss 511349 revs 7258688 vs 7200349
oper shr 49 cts vs 47 cts oper net 1475000 vs 1474000 revs 858 mln vs 906 mln note current shr and net exclude extraordinary loss of 3413000 dlrs or 113 dlrs shares versus extraordinary loss of 63000 dlrs or two cts share in prior year
in december opec set a provisional fourth quarter level of 183 mln bpd now cut back to the third quarter target
the contract also contains options for more than 100 systems to be ordered within the next several years the company added
volcker sees no clearcut evidence that us trade deterioration has yet been reversed
in a five year protocol signed in 1985 cairo agreed to purchase 500000 tonnes of canadian wheat a year
if there is a shortage of rubber prices are bound to rise a spokesman for a company buying on behalf of the soviet union said
at the ico talks major consuming nations led by the us proposed that future coffee export quota shares be calculated by a formula incorporating a producers recent exportable production and verified stocks while large producers led by brazil proposed maintaining the traditional ad hoc division of shares
overnight reports from tokyo said that the bank of japan was aggressively supporting the dollar but failed to push it back to the perceived target level of 150 yen
bell said in a statement that it now holds 2993 pct of bhps 12 billion shares
among the alternatives the special committee will consider are a sale of the company to a third party for more than 32 dlrs a share a recapitalization or restructuring including self tender offers and or asset dispositions through the use of dividends spectra physics said
automobile dealerships have become large multi store operations and the largest sell more than 1 billion dlrs a year worth of vehicles a year
the tender was launched after a 1985 draft agreement for att to take over cgct was abandoned following the introduction of the french government privatisation laws which reopened bidding among a wider range of applicants
there is still a very large gap between the employers and the fnv and i cant say that we expect to reach any agreement
elsewhere in his speech baker outlined the progress industrial nations are making in promoting moderate global growth low inflation and efforts to reduce massive trade imbalances
the surviving company will be known as owen illinois inc it said
we the united states obviously with the surpluses we still have of many commodities would like to share in the import business the indians do and then we have some as we always do compassion for the people of india and would like to cooperate with them he said
sure consumers may have spent less on winter clothes or heating apparatus because of the warm winter this year but they have done so because they have become even more uneasy about their future pay rises said shoji saito general manager of mitsui banks economic research division
the 1987 report said gross national product would only expand a real 17 pct this year below previous expectations because of weaker exports
he gave no details of the deal with creditanstalt
china gets world bank loan for fertilizer
the statement said holders of commerzbank participation certificates in a total nominal value of 425 mln marks would receive the remaining 414 mln marks of the distributable profit
italys wholesale price index rose 02 pct month on month in february 1987 after increasing by 11 pct in january the national statistics institute istat said
the semiconductor industry association urged the us government to impose trade sanctions against japan for violating the us japan semiconductor trade agreement
the supreme court left intact a ruling that vacated a judgment ordering china to pay 413 mln dlrs for allegedly defaulting on a 1911 loan to finance construction of a railroad from peking to canton
imports from europe rose to 182 mln us dlrs from 148 mln the official said
as a result he said us produced soybeans have a price problem in competing with other soybean producing countries
the cocoa is believed to have been entirely made up of second hand material they added
outboard now has 17 mln shares outstanding
thats hurricane force
the sources could give no further details of the options under study
oper net loss 411000 vs profit 875000 sales 697 mln vs 705 mln year oper net profit 6258000 vs profit 4785000 sales 2995 mln vs 2972 mln note company made initial public offering in june 1986
in the best of all worlds the kind of cooperation that was demonstrated between the international monetary fund imf the multilateral development banks the wealthy countries and commercial banks when the debt crisis surfaced in 1982 could emerge again but no one is expecting that
the plan presented by icco executive director kobena erbynn represented a compromise between producer european community ec and other consumer views on how the buffer stock should operate they said
the current cocoa agreement came into force on january 20 during a previous meeting of the council which was unable to agree on the rules to implement buffer stock operations
the ldp generally believes that there is no need for a further discount rate cut at the moment he said
hundreds of ugandan coffee farmers and processors have been waiting several months for payment from the cmb which has had trouble finding enough railway wagons to move the coffee to the kenyan port of mombasa
as much as the fed would like to take a tough line against inflation it cannot act to slow the growth of credit without subverting national us economic policy
he said this will enable the requirement to be held to 4197 billion francs against the previous government target of 4178 billion or eight pct of gross national product
finlands gross national product is expected to rise by three pct in 1987 against two pct in 1986 and inflation will be unchanged at about 35 pct the private business survey office etla predicted
as a result oneill said there was much confusion many unmatched trades and large losses for some traders
solmecs develops technology relating to energy conversion
shr 30 cts vs 51 cts net 966000 vs 1470000 revs 398 mln vs 413 mln
baldrige predicts end of us japan trade dispute
there is a put option after seven years which will be priced to give the investor a yield to the put of 7 1 4 to 7 3 4 pct
an agreement with the banks officials now say is expected soon
the brokerage firm earlier reported six month profit rose to 35 mln dlrs from 19 mln dlrs last year
peoples telephone signs pact with southland slc 
the unadjusted consumer price index for the tokyo area base 1985 was down 01 pct in mid february from a month earlier at 1002 reflecting lower prices for food clothing and footwear
imports of vegetable fats including palm oil rose to 445400 tonnes from 362500 and exports to 151500 from 139800
guinness said in a statement that the companys strength was in its well known beer and spirits brands
for refineries in the mediterranean netback values were mostly lower with declines of seven to 14 cts
bradley real estate trust said it signed a 99 year lease for property in downtown minneapolis to bced minnesota inc
government officials have said bangladesh must import nearly two mln tonnes of grain annually up to 1990 when the government expects to attain self sufficiency in food
new zealand will also not renew an agreement which supports the price of fijian sugar when it expires in march
the trust which has raised its quarterly dividend frequently in the past two years and in the first quarter in both years said the tax reform act of 1986 has limited its flexibility on dividends and trustees will now consider the appropriateness of any dividend increases only during the later quarters of the year
six other people associated with the bank were jailed in 1983
only if there is a major disaster will we become a major importer a japanese trader in peking said chinese grain imports would rise and exports fall this year because of the drought low world prices and rising domestic demand for human and animal consumption
the fitness rfit buys livingwell unit
the gao concluded in a preliminary report last week that payment in kind or pik certificates cost between five and 20 pct more than cash outlays administration officials who asked not to be identified said
shr loss 52 cts vs loss 49 cts net loss 3142000 vs loss 2936000 sales 409 mln vs 401 mln note year ago share results adjusted for five for four stock split in august 1986
bank of france leaves money market intervention rate unchanged at 7 3 4 pct official
great western financial corp said it agreed to sell its john alden life insurance co and its affiliated operations for 280 mln dlrs to a newly formed company onwed by the john alden management group
the taiwan dollar opened four cents up today at 3470
following news of the tender offer caesars worlds shares were trading at 27 7 8 up 3 3 8
ecuador will produce crude oil in excess of its 221000 bpd opec quota during the second half of this year energy minister fernando santos alvite told a news conference
speaking to the conservative heritage foundation heller said a broadly based commodity price index may be worth exploring as a guide to monetary policy
shr loss 72 cts vs loss 157 dlr net loss 1526359 vs loss 3315834 revs 8032798 vs 7276517
the suit which asks damages in excess of 90 mln dlrs seeks an injunction against further publishing or distribution of evaluations
he said if there is widespread belief money market rates will stay high a prime rate rise could occur at any time fed officials have long expressed concern that too steep a dollar drop could help rekindle us inflation
shr 66 cts vs 48 cts net 8413000 vs 6112000 sales 2679 mln vs 2306 mln nine mths shr 220 dlrs vs 205 dlrs net 281 mln 264 mln sales 8067 mln vs 7207 mln note 1986 3rd qtr results include extraordinary loss on extinguishment of debt of 1482000 dlrs or 12 cts a shr
farah said it expects to turn a profit for the balance of 1987
but even using foreign ships we must not forget that we are going to lose foreign exchange paying freight charges abroad and all this through the fault of the seamen rubens habbema said
the kwacha slid to around 15 per dollar under the auction losing 85 pct of its value in 16 months but since the end of january has been revalued to a fixed rate of nine per dollar
conseco said the acquisition would raise its assets to 27 billion dlrs and annual revenues to about 800 mln dlrs
npn acquired control of whippany in a recent tender offer
gencorp gy proposals withdrawn from meeting
intl research development irdvo 1st qtr net
treasury secretary james baker the reagan administrations chief economic architect has preferred to use the so called group of five industrial countries or sometimes seven as a forum to work out cooperative agreements on currency and other economic matters
temple inland jumped 2 7 8 to 73 and international paper 1 1 4 to 91 1 4
the tender was announced last friday because carnival festivities closed banks in duesseldorf yesterday and will close banks here this afternoon
permits had risen 10 pct in august from july levels of 1487000 units
shr loss 20 cts vs profit 24 cts net loss 173578 vs profit 211324 revs 4558244 vs 5595644 note earnings per share restated retroactively for all periods to reflect 20 pct stock dividend in april 1984 and 25 pct stock split september 1985
the fried
on may 5 comex eliminated price limits on the two contracts following each spot delivery in gold silver copper and aluminum futures after a review of its clearing operations which were severely tested by a volatile market in silver futures at the end of april
allegheny beverage abev explores unit sale
the shares last traded at 1930 dlrs
pettee estimated 58 dlrs would be in a more reasonable range based on other airline mergers
some 131 pig contracts were settled against the meat and livestock commissions average all pigs price in february which represents hedging for over 13000 pigs more than twice the number cash settled in january the lmfe said
toshiba said exports of t1100 and t3100 lap top computers would continue at 5000 units a month for the time being
guinness plc guinl said it has started court proceedings against former chairman and chief executive ernest saunders and non executive director thomas ward for recovery of 52 mln stg
linear films lner sees lower fourth qtr net
qtly div 50 cts vs 39 cts pay jan 20 record dec 31
the purchase gives esso a 50 50 partner with the broken hill pty co ltd brkns in the bass strait its first onshore production in australia they said
companywide williams had a net loss of 134 mln dlrs on total revenues of 185 billion dlrs a decline from profits of 32 mln dlrs on sales of 246 billion in 1985
he had no price details
holland added that sprint was still paying almost 500 mln dlrs a year to american telephone and telegraph co t in order to lease its lines
mitchell energy and development corp mnd net
the amount of coffee stored in new york and new orleans warehouses and certified for delivery against the new york coffee c futures totalled 585555 bags as of april 3 compared with 585794 bags the previous week a net decrease of 239 bags the new york coffee sugar and cocoa exchange said
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
stoltenberg says paris accord policy to continue
shearson lehman brothers action against the lmes tin ring out in march 1986 is also scheduled to be heard in the near future
the cuts take the one month rate to 675 pct the two month rate to 680 pct and the key three month rate to 685 pct the central bank said in a telex
the level of the dividend however ought not to be affected he added discussing the 1987 outlook
up right inc upri 4th qtr oper net
the rate at which permits were issued for future building climbed 44 pct to a seasonally adjusted annual rate of 1764 mln units after dropping 1152 pct to 1690 mln in january
more normal would be about six pct he said
exxon xon sees synfuels role by year 2000
gac liquidating trust gactz year net
banks had been pressing brazil to make at least a token interest payment but gros said the government was unable to comply for the moment
the dollar was also aided by japans moves to dampen speculative selling in tokyo and by reports of active central bank intervention to support the dollar
ccc wheat credit guarantees for north yemen
if asked to do so again and the program is designed to improve the standard of living of the poor then we would certainly be prepared to consider lending arrivillaga said
there have been five other cases of australian meat which had residue levels above us allowable limits this year she said
the company said the sale to a subsidiary of senior engineering group plc a british company will take place this month
another said conrac might have trouble if it tried to find another buyer
it has since been reaffirmed by the group of seven the us japan west germany britain france italy and canada
phillips last changed it crude oil postings on sept 9
others who run junk bond portfolios agreed with that assessment and said they would still buy high yield issues
it referred to a marked downturn in the number of workers taken on in the capital goods sector
armatron international inc said it negotiated a new seasonal line of credit with three lenders for 10 mln dlrs for working capital requirements to support its lawn and garden product line
but previous discussion of the reporting requirement considered firms listing the closing price of a given security as well as the high and low for the day
minorities nil vs nil making two mln vs nil
the company gave no further details but said a further statement would be made shortly
peru says new gold deposits worth 13 billion dlrs
the sources said the credibility of opec would come under fresh scrutiny from monday with activity in the european and american markets it said
sources would not say which field statoil is considering
oper shr 45 cts vs 24 cts qtly div six cts vs six cts prior oper net 1766000 vs 950000 revs 9321000 vs 5298000 year oper shr 125 dlrs vs one dlr oper net 4985000 vs 3894000 revs 283 mln vs 199 mln note net excludes losses from discontinued operations of 161000 dlrs vs 66000 dlrs in quarter and 464000 dlrs vs 226000 dlrs in year
paul channon secretary for trade and industry said if congress passed legislation to curb textile imports which would hit ec shipments as well as shipments from major asian textile producers the community would have to retaliate his comments echoed those made yesterday by belgian trade minister herman de croo who said if the bill passed the community would retaliate by imposing taxes on us exports
china was still believed to be in the market for more sugar traders said
those rumors are not correct said carlton curtis an assistant vice president at coke
major commodity groups including the national corn growers the american farm bureau and the national cattlemens association have voiced strong opposition to 0 92
morrison morr adopts shareholder rights plan
it matures on the same day in 1992
winn dixie stores inc win sets monthly payout
it also said it planned 20 dlr a ton increases on some special plate widths and thicknesses
the dollar traded around 14520 30 yen when trading began in the afternoon here and weakened only slightly the dealers said
it was the 43rd bank failure in the nation this year
qtly div 10 cts vs 10 cts prior pay april 13 record march 13
but the edelman dominion group which has litigation pending against burlington also said it has held talks with morgan stanley about the possibility of settlement of outstanding matters among it morgan stanley and burlington
the stock has fallen 2 1 4 to 56 1 8 so far today after the news about the suit was released this morning
kim said the policy changes were also prompted by the swing in south koreas current account to a surplus of 206 billion dlrs in the first quarter of 1987 from a deficit of 438 mln dlrs in the same 1986 period
sales 225 billion francs vs 249 billion
shr loss 134 dlrs vs profit two cts net loss 45 mln vs profit 46000 revs 76 mln vs 89 mln nine months shr loss 141 dlrs vs loss two cts net loss 47 mln vs loss 76000 revs 302 mln vs 238 mln note1986 includes gain on disposition of investments of 2454 dlrs in 3rd qtr and 5306 dlrs in nine months respectively
last week gaf increased its ownership of borg warner shares to 199 pct of those outstanding minstar inc mnst sold its 124 pct holding
bennett who is leading one of three soybean delegations on a lobbying tour of ec capitals will also visit bonn on thursday and friday
xuto said the new pact maintains the same objectives that were set in the present accord
baker seen winning german interest rates battle
payment date is april 17 and the bond matures on the same date in 1997
shr loss 23 cts vs loss 15 cts net loss 1121664 vs loss 640862 sales 37485 vs nil note company in development stage
the issue currently underway is expected to be completed within the next few weeks
spain has granted cuba a 25 mln dlr credit line for the purchase of spanish goods and services in the iron and steel industry the repair of fishing boats and development of industrial projects prensa latina said
the growers expect palm oil prices to ease later this year due to pressure from south american and us soybean output
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
telecom australia offers 40 mln dlr bonds
international business machines corps ibm credit corp subsidiary said it is calling for redemption on may 15 all 250 mln dlrs of its 9 7 8 pct notes due may 15 1988 at 101 pct of principal amount
a lack of aircraft imports in february should also contribute on the trade account although it is still likely to remain in deficit the economists said
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
frances balladur says target zone notion nearer
they have everyones attention but it must be followed by a constructive plan he said
another commented baker will miss him but hes not going to stand in his way there has been widespread speculation since last autumn that darman sought a wall street job
he did not comment directly on the soviet question replying that any decision would be made at the highest levels of the reagan administration and i dont want to preempt that yeutter told the national grain and feed association eep should continue to be used as a tactical tool against the european community but not as a general policy
argentine subproducts shipments in 1986
united securitys principal subsidiary is united security life insurance co of illinois
he also told reporters that many major nations yesterday intervened heavily to support the dollar against the yen
soviets said to see new floor for grain output
the volume of uk retail sales rose a provisional seasonally adjusted 22 pct in february after falling a final 22 pct in january figures released by the department of trade and industry show
it said its three largest shareholders robert f
in a washington address to an export import bank sponsored meeting ortner said he believed the dollar at current levels was fairly priced against most european currencies but that the yen is 10 or 15 pct undervalued
twelve years of civil war have devastated productive sectors of the lebanese economy and created gaping trade and budget deficits
hudson chairman kenneth mackes cited the late easter for the decline
brazil last month suspended interest payments on its 68 billion dlrs of debt to commercial banks and froze short term trade and money market lines
last year irish yields were the lowest for 10 years due to late sowings and the state run irish sugar plc said the 1987 plantings target is the equivalent of 36400 hectares down from 37600 in 1986
the rules permit him to buy and sell cocoa from origins or the second hand market on an offer system not by means of a posted price as in the previous cocoa accord
aqazadeh also visted opec members gabon algeria and libya
arvin forecast about 85 cts a share net in the second quarter compared with 68 cts in last years period
cray research inc said british petroleum ordered a cray x mp 24 supercomputer valued at about 66 mln dlrs
about one third of the deficit is in trade with japan
us trust co which also quotes its broker loan rate publicly is posting a 7 1 2 pct rate
moodys investors services inc said it upgraded upgraded to b 1 from b 3 national gypsum cos 887 mln dlrs of industrial revenue and pollution control bonds
usda reports 350000 tonnes corn to unknown
the principal asset of the subsidiary bow valley exploration norge a s is an eight pct interest in the heimdal gas and condensate field offshore norway
but rates were likely to tighten again as soon as the full effect of this months major tax payment period is felt
rank shares firmed in morning trading to be quoted at 712p at 1320 gmt after 697p at last nights close
baker hughes bhi us rig count falls to 758
abu al bukhoosh was producing 57000 barrels per day bpd at the time of the attack but the sources said it would resume at a maximum of half that level because of reduced staff and the fact only four of five wellheads were now operable
its capital structure will be strengthened and interest expense reduced as a result the company noted
foothill fgi sierrita in standstill accord
but they are to be allowed to enter the business soon as the european community begins to harmonize rules governing funds
this inflow of funds into the stock exchange occurring also in other countries may continue he said
shr loss 18 cts vs profit six cts net loss 509471 vs profit 163840 revs 2623974 vs 1835580 12 mths shr loss 18 cts vs profit 10 cts net loss 494352 vs profit 173948 revs 101 mln vs 3551429 note 4th qtr loss reflects 290000 dlrs of non recurring expenses related to senior management changes
these holdings had a rate of return of 135 pct in the year which was below the caisses average return of 16 pct in the past four years and 142 pct in the past eight years
yields after the first year will be linked to rates on 12 month treasury bills
hoechst acquired a majority of celanese shares in a recent tender offer at 245 dlrs per common share
s korean wholesale prices up 04 pct in may
the company said in a statement that cash flow had improved strongly although it remained negative at 182 mln francs against 134 billion in 1985 due largely to improved performances by its main profit centres
ultrasystems inc uls 4th qtr net
the tender was originally for 120000 tonnes of british and 120000 tonnes of west german feed wheat for shipment only to poland
lindner who holds his taft stake through american financial and its subsidiaries said he is also considering buying more taft stock on the open market or in private deals
but on march 11 the fed also was rumored to have signalled displeasure with a dollar surge above 187 marks
us real gnp rose revised 11 pct in 4th qtr instead of 13 pct rise
qtly div 28 3 4 cts vs 28 3 4 cts prior pay april three record march 13
usair group said it sought the help of the us department of transportation in its takeover fight with trans world airlines inc asking the department to order twa to sell its usair shares
dillard department stores agrees to buy two allied stores units for 255 mln dlrs cash
pay date is april 15
funding debt sales to the non bank private sector and external flows to the public sector rose by 300 mln stg after a 15 billion stg rise in january
philippines says debt pact better than mexicos 
gencorp inc plans to use first boston corp and kidder peabody and co as financial advisers on a tender offer for the company by general partners a gencorp spokesman said
atlas said the two sides were also discussing equity infusion into atlas and the creation of a development fund for further exploration and development of the companys gold properties in the central province of masbate
fao said it has also approved more than 14 mln dlrs of food aid for 8000 families in sri lanka
canada development said the purchasers do not plan to acquire the remaining publicly held shares
we can say that we are achieving the recuperation of credit but that cannot be done overnight azpurua said in a television interview
afgs healthy cash flow and pro forma cash balances of 169 mln dlrs at september 30 1986 should be adequate to fund internal expansion and moderate acquisitions
the survey said the trade deficit was expected to fall to 24 billion dlrs from three billion dlrs in 1985 86 because of the boost in exports
weyerhaeuser co said it should have significant increases in earnings in 1987 and 1988 should be another very good year
iida is optimistic about the future however
the offer still stands we have not changed our offer a bank of new york spokesman said
holden brown said allied lyons financial results for the fiscal year just ended march seven would include three months of hiram walker gooderham profits but he did not provide actual figures
philippine sugar crop set at 16 mln tonnes
toyota has informed the philippine government it plans to produce cars again here in joint venture with a local partner
this accounts for the wide variety of borrowers who have tapped the sector recently ranging from sovereigns such as the kingdom of sweden today continental banks including commerzbank and deutsche bank and british corporations
uk bankers consider new ecgd financing plan
shr 146 dlrs vs 141 dlrs net 2775 mln vs 2683 mln dlrs revs 213 billion vs 214 billion nine mths shr 395 dlrs vs 378 dlrs net 7505 mln vs 7184 mln revs 628 billion vs 622 billion
willamette industries wmtt 4th qtr net
freddie mac said that first union mortgage corp already swapped 70 mln dlrs of new residential mortgages to freddie mac in the first phase of the contract
the yield on the bills for sales to banks and securities houses from money houses will be 39496 pct against the 39375 pct discount rate for two month commercial bills and the 446 37 pct yield today on two month certificates of deposit
rite aid corp rad sets quarterly dividend
they leave me alone and give me all the support i need maybe if we werent doing so well there wouldnt be that support but that hasnt happened he said
indonesias economic changes have been welcomed by the world bank and international bankers as steps in the right direction though they say crucial areas of the economy like plastics and steel remain highly protected and virtual monopolies
m0 the only targeted money supply measure left after chancellor of the exchequer nigel lawson scrapped the official target for the broad sterling m3 measure in his 1987 budget speech on tuesday fell an adjusted 3 4 to one pct in february
the ghana cocoa board said it purchased 214 tonnes of cocoa in the 24th week ended march 19 of the 1986 87 main crop season compared with 456 tonnes the previous week and 372 tonnes in the 24th week ended march 27 of the 1985 86 season
the market is very unstable
adsteam said its diverse industrial interests generally performed well and its results as the ultimate holding company and beneficiary reflected this solid performance
opec president says output well below ceiling
venezuelas energy and mines minister arturo hernandez grisanti earlier described the agreement under which pdvsa buys 50 pct of champlins corpus christi refinery as one more step in the maturation and presence of our oil industry in world markets union pacific chairman william cook said the agreement will be beneficial to both sides combining a secure source of supply with a modern refinery and access to markets
increased activity by switzerlands banks pushed net capital exports to a provisional 117 billion francs last year from 100 billion in 1985 the national bank said in a pre publication copy of its annual report
17 and march 10
reichhold said it made a modest cash investment
mulford rejected congressional ideas for a debt facility as being far too costly to creditor governments and ultimately taxpayers
australian trade minister john dawkins told the reporters bilateral retaliation at the enormous expense of the rest of the world was no way to solve trade disputes
but brazilian central bank governor gros said if the banks are now volunteering to take that step they might be more willing to discuss new ideas for debt relief
the bass group holds 25 pct of taft and lindner holds 162 pct
national pizza piza corrects figure
industrial output in january was 609 pct above the same 1986 month after rising 671 pct in december brazilian geography and statistics institute figures show
a trade bill before the united states house of representatives is a very dangerous bill for canadian industry canadian forest industry council chairman adam zimmerman told reporters
note company lowered to nine pct from 135 pct interest rate on outstanding subordinated loan for period august 1 1987 to july 31 1988
bank of japan intervenes to stem dollar fall
ben and jerrys homemade inc bjic 4th qtr net
the bonds will be listed in luxembourg and sold in denominations of 1000 and 10000 dlrs
charles grassley r iowa about expanding the export enhancement program to include grain sales to the soviet union
the reporting of the february trade data was delayed several weeks to permit gathering latest figures on imports and exports to give a clearer picture of the monthly trade balance
brazil would like to come up with such a plan he said adding the moritorium is likely to be a temporary affair during his formal remarks conable made it clear that he believed brazil must take some specific internal action
the base rate reductions came after the bank of england cut its dealing rates this morning in a signal to the money markets that it would not resist a half percentage point drop in bank base lending rates market sources said
the authorities actions appeared to back up the february 22 paris pact between the us japan west germany britain france and canada under which the nations agreed to cooperate to foster exchange rate stability around prevailing levels
cattle futures posted new highs on the chicago mercantile exchange while live hogs rallied from early losses and frozen pork bellies finished sharply lower
in the medium term we expect this modest improvement to continue but the pace of progress may be too slow to ward off further protectionism or further yen strength said william stirling economist at merrill lynch japan inc
us m 1 money supply rose 19 billion dlrs to a seasonally adjusted 7385 billion dlrs in the february 23 week the federal reserve said
microdyme corp mcdy 1st qtr feb one loss
fhlbb changes short term discount note rates
the reserves are managed by the central bank and deposited at about 170 leading banks in the us japan britain canada and singapore
lasmo exploration canada ltd a subsidiary of london amp scottish marine oil plc lsmll is merging with onyx petroleum exploration co ltd lasmo said
seixas director of the brazilian central banks foreign debt department met the full panel on tuesday and wednesday
wallace computer services inc wcs dividend
it said talks are underway with lenders on other houston properties to obtain partial debt service moratoriums which if granted would cut 1987 cash deficits from 1986 levels
t cell sciences inc tcel 3rd qtr jan 31 loss
the issue has a one time call after three years first boston detailed
treasury foreign reserves are jordans priorities
new zealand unemployment falls in february
they said some 71070 tonnes of agricultural produce estimated at about 250 mln pesos was lost to the lack of rainfall
notefirst quarter of 1986 does not include restatement from recent acquisitions
it requires president reagan to retaliate against foreign unfair trade practices but do not mandate quotas or tariffs and allow an exemption if us economic security would be harmed by us actions against other countries
this was partly due to increased production in china and india
everything else is nothing but speculation he said
the cabinet approved a plan for the port authority of thailand to buy six gantry cranes from metalna co of yugoslavia for about 134 mln dlrs a government spokesman said
british banks base lending rates fell a half percentage point on march 9 to the current 105 pct
usair said piedmont has granted it an irrevocable option to buy up to 3491030 new shares under certain circumstances
the soo canal is currently only open for daylight vessel movement with 24 hour movement allowed beginning march 29 she added
ual ual completes buy of hilton intl
debt exposure fears continued to undermine us and canadian bank paper with one uk house citing a fall of 1 5 8 point on the day on a royal bank of canada issue
the partnership said it anticipates making a cash distribution of an as yet undetermined amount to unitholders at or before the liquidation trusts funding date
the americans are getting frustrated at japans inertia in stimulating its economy said hirozumi tanaka assistant general manager of dai ichi kangyo bank ltds international treasury division
joint ventures are the principal instrument for allowing the resources of the industrialized countries to be channeled to the developing world so as to lead future growth for both reviglio said
telecom plus international inc said it completed the sale of its 65 pct interest in tel plus communications inc to siemens information systems inc for about 173 mln dlrs
witco corp wit sets regular qtly payout
the company said salomon brothers inc first albany corp and wheat first securities inc would underwrite the offering
the bond guaranteed by parent general motors acceptance corp is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
matsushitas shares closed on the tokyo stock exchange at 1640 yen down 50 from yesterday
the preference stock has been called
the future of the stock will depend on the firms ability to creatively structure some new acquisitions said hargreaves of hoare govett
the ghana cocoa board said it purchased 456 tonnes of cocoa in the 23rd week ended march 12 of the 1986 87 main crop season compared with 684 tonnes the previous week and 784 tonnes in the 23rd week ended march 20 of the 1985 86 season
a spokesman for the assay offices of great britain said he was particularly encouraged to see the percentage increase for british manufactured goods
steven garmaise of wood gundy inc expects canadian airlines profit in 1988 will more than double last years 298 mln canadian dlrs by pacific western
australian investment group industrial equity ltd iel said it will raise 100 mln us dlrs by the issue of medium term notes and commercial paper in the us domestic market
klm said last week it is negotiating a minority stake in british courier service iml air services group ltd a subsidiary of british and commonwealth shipping plc bcoml to strengthen its position in the fast growing worldwide door to door delivery market
the outstanding balance of about 85 mln dlrs on the sale of the property will be paid at closing scheduled for sept 28 1987 it said
patient technology inc said it retained an investment banking firm to consider alternatives in restructuring its long term debt including a possible exchange offer for 20 mln dlrs of outstanding convertible debentures
also includes losses of 18 mln dlrs vs 332000 dlrs from equity in limited partnerships
the recent removal of a key regulatory obstacle by the us securities and exchange commission will allow the cbot to apply to the commodity futures trading commission for a yen bond futures contract they said
us eep veg oil proposals still under review
in 1986 cyclops earned 213 mln dlrs or 526 dlrs a share on sales of 15 billion dlrs compared to 1985 earnings of 262 mln dlrs or 620 dlrs on sales of 14 billion the spokeswoman said
waste management wmx hikes chemlawn chem bid
but a further improvement in the terms of trade left the deficit smaller than last year
the lenders are mitsubishi bank ltd and another japanese financial institution which the spokesman declined to name
pasars smelter is in the central province of leyte
he added that the fund can be very flexible in its dealings with developing countries adjusting its approach to the political realities
tenneco tgt to transport gas on open access
bolt beranek and newman inc bbn 1st qtr net
closing of the acquisition is scheduled for april
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
he said sudan had reached agreement with the soviet union and its east european allies to service half of its debts to them in commodities with the rest in hard currency
british telecom 3rd qtr ended dec 31
the issue is guaranteed by fuji bank ltd
american express axp signs debt equity deal
the pioneer group inc said its 70 pct owned teberebie goldfields ltd venture was granted an additional concession of land in ghana to seek and mine gold
kern said the budget would have to be analysed carefully in particular to see how exactly lawson planned to achieve the sharper than expected borrowing target cut before a one point base rate cut could be implemented
poehl said west germany had lived up to its side of the bargain in paris by preparing the way for tax cuts to be accelerated as a way of stimulating growth
fieldcrest cannon fld to sell convertible debt
bat shares were down at 524p in late afternoon trading after a previous 535p close
only malaysia of the pacts 32 producing and consuming member countries had ratified the new agreement by the beginning of this month
ec oilmeal demand rose 100000 tonnes in august from a year earlier with soymeal up 45000 tonnes
us argentina settle soyproduct case yeutter
the phase in period has ended and several major banks and offshore financial institutions are investigating taking larger stakes in australian broking houses industry sources said
mexicos nacional financiera nf the recipient of both loans will receive 185 mln dlrs to be used to provide long term credit and equity funds to small and medium sized industrial enterprises the bank said
the agreement signed last september aimed at halting predatory japanese pricing policies and increasing us semiconductor firms access to the japanese market
gould gld completes sale of division
nippon signal co ltd is issuing 50 mln swiss franc of five year notes with warrants paying an indicated 1 3 8 pct lead manager morgan stanley said
the miners statement said police had violently evicted comibol office workers in the city of oruro after they began a hunger strike yesterday
listing will be on the amsterdam stock exchange
inter tel inc intlao 2nd qtr may 31 net
this legislation will open up new natural gas markets the lousiana democrat said
the 90 mln franc 1987 95 issue has a coupon of 4 1 2 pct and issue price of 9975 pct while the 58 mln franc 1987 97 issue has a coupon of 4 5 8 pct and issue price of 9975 pct
late in 1985 gencorp cut a deal with fidelity a los angeles investor group and westinghouse electric corp wx to settle the license proceedings and sell khj tv for 313 mln dlrs 70 pct of which would go to westinghouse and the remainder to fidelity
century business credit cty gets offer
earlier today bp said it planned to offer 70 dlrs per share for the standard oil cos srd publicly held stock
reliable life insurance co rlifa year net
the firms robert h
he did not elaborate
i think it was improper for us government officials to intervene to the extent they did he said
the company said the total value of the order is at least 5200000 dlrs and could be more depending on circuit configurations required
the offer was made to kuwait in light of irans deployment of chinese built missiles to cover the entrance to the gulf
any reduction in world coarse grain output would be bolstered by the large carryover stocks from 1986 87 the iwc said
news corp nws completes purchase of newspaper
northwest aluminum co said it will open a second pot line in mid may bringing the smelter here to 80 pct of its production capacity
terms of the agreement were not disclosed
viragen vrgn starts human trials
colombia helpful but coffee quotas uncertain us 
the philippine coconut industry has greeted with relief the defeat in the us senate of a bill requiring some edible oils to be labelled as saturated fats
but growth rates will be smaller than last year with 15 to 25 pct likely in most industrialized countries he told a news conference
there has been some change but its not across the board said one us spokesman
the us currency steadied well above 14300 yen after bank of japan intervention and scattered short covering they said
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
mees said saudi arabia was pumping more than 300000 bpd of its total production into floating storage
the payment date is may 13 and there will be a long first coupon period
agency officials blamed the strong yen for depressing exports and manufacturing industry
the pentagon as is its custom declined to confirm the exact whereabouts of the ships or what they were up to
united medical corp said it will sell its trotter treadmills inc unit
icahn filed such an application with the dot but the filing was thrown out by the dot on friday
exercise requiring one days notice must be for a minimum of 100 warrants through one currency only
two for one stock split pay may 12 note split is subject to approval of shareholders at april 23 annual meeting
the kuwaitis have discussed the possibility of chartering us flag vessels with the maritime administration oakley said
but the bank of england will also be constrained from issuing gilts in the conventional form by its promise to try out a us style auction system in which firms bid for new stock
the banks net capital exports climbed to 54 billion francs from 51 billion in 1985 while capital exports by domestic non banks fell to 50 billion from 91 billion
in the comparable quarter a year ago utilicorp earned 85 mln dlrs or 87 cts on revenues of 203 mln dlrs
dealers said the bundesbank would want to inject enough liquidity in this weeks pact to keep short term rates down
corning to offer 05165 share for each hazleton share under earlier agreement
house and senate negotiators are ironing out differences in trade bills passed by both chambers
although talks had been held in recent weeks between the south africans and the banks the completion of the agreement on the repayments took many in the financial community by surprise
the current account showed a 52 billion guilder deficit on invisibles compared with a balance in 1985 the finance ministry said noting the surplus on transport services was reduced substantially due to the lower dollar and oil price falls
american vanguard corp amgd year net
the issue was increased from an initial offering of 250 mln dlrs
industrial equity ltd iel unit acmex holdings ltd said it proposed to make a formal takeover offer for all the issued capital of cheetham ltd a producer of salt animal feed and seeds
qtly div 27 cts vs 27 cts prior qtr pay 1 april record 16 march
staley said the simsa transaction will not have a material effect on its balance sheet
martens said following a lowering of government estimates of 1987 nominal gnp growth and a re estimation by government departments of 1987 spending the government calculated that unless action was taken the requirement would exceed the target by 225 billion francs
glenn voiced a preference for a united nations multinational force or failing that an american british french force with cooperation from the gulf arab states
the february numbers surpassed the expectations of many financial analysts whose predictions ranged from flat to increases of up to five pct
erbamont erb acquires antibioticos sa 
from several hundred miles at sea carriers could launch aircraft bombing runs or missile strikes and battleships could fire long range missiles the paper said
bankers said applications totalling two billion dlrs had piled up at the finance ministry which has said it wants to limit the amount of swaps to 100 mln dlrs a month
colt industries inc said it signed a conditional agreement to sell its woodville polymer engineering ltd subsidiary in great britain to the dowty group plc of gloucestershire england for 359 mln stg
sergey frolov chief economist at amtorg trading corp an agent for soviet trade organisations and industries told a us ussr business meeting the soviet union produces few items that western nations want
federal funds which averaged 602 pct on friday opened at 6 1 8 pct and traded between there and 6 1 16 pct
i would hate to be producing today a light crude and that problem has not been dealt with properly
total foreign debt is 23 billion dlrs
while noting that the government is bringing forward a five billion mark tax reform to january 1988 the oecd said that the medium to longer term performance of the west german economy could be improved by reduction of subsidies which would allow relatively lower tax rates since the oecd report was compiled the west german federal statistics office has released figures showing that the gnp actually fell 05 pct in real terms in the first quarter of this year compared with the final three months of 1986
payment date is march 5
shr loss eight cts vs loss nine cts net loss 311255 vs loss 157941 revs 546069 vs 284636 avg shrs 3790235 vs 1819680 year shr loss 27 cts vs loss 24 cts net loss 858624 vs loss 399385 revs 1491518 vs 1407441 avg shrs 3175157 vs 1692700
the combined entity would also have twas pars reservation system
lead underwriter first boston corp said friday it has tentatively scheduled the securities for pricing today
and the forum for such a reform is the general agreement on tariffs and trade he noted
he said the current marketing posture will provide added support to the nearby month
corn eight pct planted vs 64 pct a year ago and 51 pct average
general refractories co said it agreed to sell its european refractories and building products operations for about 62 mln dlrs to an austrian investor group
sugar factories normally work 24 hours a day seven days a week during the campaign
shr profit two cts vs profit two cts net profit 216000 vs profit 265000 revs 1661000 vs 1376000 12 mths shr profit four cts vs loss two cts net profit 528000 vs loss 290000 revs 5881000 vs 5541000 note full name of company is pension insurance group of america inc
it was quoted at 372 today little changed from 37 a year ago
he will meet zheng tuobin minister for foreign economic relations and trade attend a meeting of the us china joint commission on commerce and trade and address a management and training organisation
kansas city hard wheat futures rose another 2 1 4 cents by midday at 288 1 4 dlrs per bushel while cbt march wheat was up 1 1 2 cents at 292 1 2 dlrs
the change affects 515 mln dlrs in debt and assumes a merger of the two companies will be completed
a further 856 people were rescued
abc said investcorps facility can be used alternatively or simultaneously through the following facilities issue of euronotes and or advances through tender
uk feb adjusted unemployment fell 44100 total 307 mln or 111 pct official
as of march 30 there were 556 mln dlrs of debentures outstanding
but the data raise the tantalizing possibility for the bond markets that the slowdown in money growth is partly a reflection of a weaker economy that needs more fed stimulus
soyabean exports rose to 119400 tonnes actual weight from 73200 tonnes
miller tabak has 918 pct of penn traffic pnf 
the us senate agriculture committee approved a measure that would exempt farmers who planted alfalfa or other multiyear grasses and legumes between 1981 and 1985 from a federal conservation requirement
taipei has said it is losing markets to south korea and hong kong which were given more generous terms
shultz ussr trip fuels talk of eep wheat offer
the key three months interbank money market rates eased about 1 8 point reflecting cautious hopes that the downtrend in uk interest rates will be revived following the reserves news analysts said
eli lilly lly to sell elizabeth arden unit
but any major decisions would have to be reserved for ec foreign ministers diplomats said
for its fiscal year ended july 31 caesars world reported net income of 41 mln dlrs or 136 dlrs per primary share
it said it recorded income from continuing operations of 164 mln dlrs or 227 dlrs per share in the previous year
neither vaskevitch nor sofar are currently living in the united states and cannot be extradited on the basis of the secs civil charges filed against them the official said
the fed last intervened in the foreign exchange market on november 7 1985 when it bought a total of 1022 mln dlrs worth of marks and yen
household financial corp ltd is issuing a 75 mln canadian dlr bond due april 23 1994 carrying a coupon of nine pct and priced at 101 3 4 said orion royal bank as lead manager
shr 40 cts vs 35 cts net 3149000 vs 2433000 revs 2254 mln vs 2259 mln avg shrs 7800000 vs 7157143 nine mths shr 91 cts vs 63 cts net 7114000 vs 4540000 revs 7470 mln vs 7282 mln avg shrs 7800000 vs 6767143
continental medical cont plans debt filing
nevertheless there is likely to be a marked slowing in inflation over coming quarters as depreciation and budgetary effects wane he said
fed says it sets two billion dlrs of customer repurchase agreements
metro mobile cts inc said it declared a 10 pct stock dividend
us trade panel rules against brazilian orange juice imports will impose dutues
qtly div 25 cts vs 25 cts prior pay april 24 record april three note first connecticut small business investment co
thyssen sees up to 20 pct lower sales in 1986 87
new york coffee futures closed higher on trade talk brazil would not be an aggressive seller near term analysts said
gaviria stressed that colombia will not necessarily suffer from depressed prices because it can compensate lower prices with increased volume
may said it expects to close the deal which includes the entire division and its 1000 employees in april
first montauk securities in merger deal
brazil strikes cause government major problems
it said falling oil prices caused the downturn
diplomatic and official sources said sudan was now only servicing debts owed to creditors bound by regulations banning them from extending fresh loans to recipients in arrears
malaysian central bank sees higher 1987 growth
he did not elaborate
the company said it has agreed as well to make compliance and public safety capital expenditures of about 600000 dlrs
the companys move into carbon black a product used in tires should provide steady earnings although not rapid growth as a hedge against a copper downturn siedenburg said
noblee a supplier of specialised refined oils and fats to the food processing industry had turnover of 161 mln marks last year
nestle sa neszz year 1986
currency futures climb likely to be checked
in northern texas officials reported several tornadoes on friday
opec has to learn that in a buyers market you cannot have deemed quotas fixed prices and set differentials said the regional manager for one of the major oil companies who spoke on condition that he not be named
great american management and investment inc told the securities and exchange commission it acquired a 77 pct stake in atcor inc
costa rica optimistic about reforming ico
but the deficit is improving in volume terms and will soon begin showing improvement
the fledgling exchange currently trades coffee and rubber physicals on an open outcry system four days a week
assistant us treasury secretary david mulford for instance criticized what he called large scale solutions such as debt forgiveness or the creation of new multilateral lending agencies
the bonus amounts to two dlrs per bushel based on the farm program payment yield for corn for each acre of corn accepted into the reserve
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 an institutional reform program as a base for future commercial operation
seoul announced in january the lifting of bans on 158 items including sensitive agricultural products and large cars effective from july
american motors has challenged the award
the present oil marketing policy of adnoc is based on adherence to opec decisions of december 1986 to control production and establish a new pricing system in an attempt to stabilize the market he added
the central bank said the lower surplus was mainly due to the decline in the value of exports and re exports to 372 billion dirhams from 542 billion in 1985
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
i wrote to the prime minister of japan mr nakasone on the fourth of march to express our interest on the cable and wireless bid
large scale measures are planned to save resources he said
grain ships loading at portland
tomorrows surplus in the money market is estimated at 420 billion yen mainly due to payment of national annuities money traders said
it will buy back the debentures at par plus accrued interest of 1823 dlrs for each 1000 dlr debenture
but i think if theres any sign of a dip it will be bought back up again pretty quickly he added
a similar coupon pass may be required later
raul gardini president of the ferruzzi group said the present management of the cpc milling business will be asked to remain in their posts
the demand deposit component of m 1 increased to 479 billion dlrs in december from 462 billion in november and 405 billion in december 1985
cps and cds are currently slightly cheaper than traditional credit lines for promotional reasons amro board member dick meys told journalists at the signing ceremony
analysts believe gaf which owns 199 pct of borg warner will raise its offer
the american wi when issued market certainly functions very efficiently he said
the governments unwillingness to allow the deduction of unsuccessful exploration expenditure within the whole offshore area in which rrt applies negates any claim that the tax is profit based the apea council said
qtly div 10 cts vs 10 cts previously pay april 20 record april 10
japan shipbuilders seek cartel to restrict output
opponents to a 0 92 feedgrains program argue it is premature to make major changes in the farm bill and that the house agriculture committee needs to study more closely the impacts of such a program
nrm energy co nrm sets regular payout
the measures are a part of the defense authorization bill which will be voted on in the house next month
usair put its total cost of completing the tender offer at 17 billion dlrs
tdk group net up 176 pct in nine months
m corp inc raises dividend
kinburn owns 316 pct of the issued and outstanding common shares of shl the company said
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
us house panel votes to ease export controls
the oecd in its annual report on switzerland picked out some signs of a slowdown in activity and a slight pick up in inflation this year but said these gave no cause for concern
the pact will enter into force definitively when governments accounting for 80 pct of world exports and 80 pct of world imports have ratified it
poehl warns against further dollar fall
current year net includes charge of 716000 from contract obligation to former chairman
yugoslavia debt payments to be adjusted to exports
ladd furniture inc said it has completed the previously announced acquisition of privately held colony house furniture inc for an undisclosed amount of cash and notes
sarney reiterates that brazil will not go to imf
the unadjusted year on year rise was 176 pct after 181 pct in the year to december
it had closed there on friday at 17975 85 marks
jwt group inc has not been approached by former ted bates worldwide chairman robert jacoby about the possibility of a syndicate buying a 35 pct stake in jwt group on a friendly basis a company spokesman said
there is a 1 1 2 pct selling concession and two pct combined management and underwriting fee
nationwide issuing index linked loan stock
oil and field natural gas liquids production totalled 86000 barrels a day compared to 87000 bpd in the prior year
banca nazionale del lavoro launches bond warrants
1985 4th qtr and yr net includes extraordinary credit of 4974000 dlrs or 89 cts per share
year ago excludes loss of 54808 dlrs or three cts in qtr and 126749 dlrs or seven cts in six mths from discontinued operations
american express officials also pointed out the earlier statement issued march one said it is company policy not to comment on rumors or speculation
clayton and dubilier new joint unit to buy firm
tomorrow brazil was due to fulfill payment of 15 billion dollars in short range credit lines but its economic officials have suggested a 60 day extension in the deadline in order to seek a renegotiation with its creditors
the report also noted that the government was progressing only slowly with its plans to privatise state companies and said more deregulation was needed
tracomin estimated export availability from the 1986 crop at 215000 tonnes compared with 264000 the previous year
becor had previously agreed to sell western gear for at least 110 mln dlrs and to be acquired by bcw acquisition inc for 1045 dlrs in cash and four dlrs in debentures per becor share
fine art acquisitions ltd faaa 4th qtr net
senator jake garn john heinz and richard selby said at a hearing of the senate banking committee on export control they will offer the proposal as part of a major trade bill when it is brought before the senate this summer
the lead banks long term deposits were reduced to ba 1 from baa 2 and short term deposits were cut to not prime from prime 2
for the nine months ended december 31 bpi lost 1286000 dlrs on sales of 6452000 dlrs
the american approach is full of contradictions jardine flemings edwards said
the reserve bank last week reported a february m3 growth rate of 112 pct from januarys 107 pct rise and a previous annual february increase of 140 pct
each share of orbancos 100 dlr par value preferred stock will be exchanged for 100 dlrs cash plus accrued dividends
the inland revenue statement also included other technical measures that lawson did not comment on in his budget speech
that offer was rejected by the company
it said the quota allocation was based on a national tapioca pellet stock of 434 mln tonnes surveyed last week up from 305 mln in mid january
morgan grenfell group plc offers fund
winter weather hurts east german grain usda
he is due back in brasilia next wednesday march 11 the sources added
us trade officials have repeatedly accused japanese microchip makers of violating the pact by continuing to sell at below cost in markets outside japan and the united states
still forecasts for first quarter gnp could play a role in the direction of bond prices over the next month
cooper said the technology in the iranian sales was available elsewhere and that foreign companies would get the iran business if the us export licenses were not approved
the new price for light sweet crude oil is 2560 canadian dlrs a barrel while the new price for light sweet sour crude is 2408 canadian dlrs a barrel
traders expect some followthrough selling in products but said gasoil futures in london will probably lend some support since they are trading as expected
nestle said the final agreement subject to required approvals would be signed shortly
data card corp said it does not expect to meet its earnings and revenue targets for the fiscal year ending march 28
as part of the deal squibb will license several of cetus anticancer agents including interleukin 2 in development
royal dutch shell group of cos 4th qtr net
tagaris founded the company which produces precision data acquisition conversion and control components and subsystems in 1970
a ministry statistical analysis said while the original accord called for payments of 382 billion dlrs between 1987 and 1989 the new agreement requires debt servicing of 135 billion over the same period
the important thing is the exchange rate taketomi said
the volume of zero coupon bonds and floating rate notes the most widely used financial innovations in germany stands at four billion and 16 billion marks respectively a tiny proportion of the 1000 billion marks of bonds in circulation
many companies appear to be switching from oil to gas drilling because theyre betting that the gas market will be back in balance in a year or two the prospect of diminishing gas supplies is welcome news for drilling and oilfield service companies that barely survived last years plunge in oil prices from about 30 dlrs a barrel to less than half that
the bills will be issued march 12
indonesian sugar output forecast to rise in 1987
unusually dry weather affects chinas agriculture
pentland said it has not chosen to participate in this over allotment
edf issues swiss franc notes with gold warrants
shr 82 cts vs 76 cts net 4200000 vs 3954000 sales 587 mln vs 606 mln year oper shr 268 dlrs vs 247 dlrs oper net 138 mln vs 130 mln sales 2743 mln vs 2768 mln note prior year net excludes loss 1120000 dlrs from discontinued operations and loss on disposal of 922000 dlrs
established in 1866 the plant was acquired by du pont in 1928
iomega corp announced it expected revenues for the first quarter of 1987 to be significantly lower than planned and that it anticipated a loss for the quarter
miyazawa told an upper house session the six nations britain canada france japan the us and west germany are abiding by the paris accord
ec rejects wheat export bids grants barley
a committee of independent directors of the standard oil co unsuccessfully sought a delay in a tender offer for standard shares by british petroleum co plc according to offering documents
fed adds reserves via customer repurchases
macyro group myom buys companies
digital dcaio to acquire fox foxto unit
lucas industries incs convertible eurobond has been increased to 83 mln dlrs from the initial 75 mln dlrs due to strong demand for the deal lead manager j
congressional sources believe a secondary market available to both private lenders and the farm credit system with the system as agent could be included in a major federal government rescue package for the system to be drafted by congress later this year
this is because the overall foreign exchange market is a triangle of dollar yen european currencies yen and dollar european currencies
qtr ends feb 28 shr 53 cts vs n a net 1165000 vs 575000 nine mths shr 154 dlrs vs n a net 3363000 vs 1535000 assets 3752 mln vs 3207 mln deposits 3138 mln vs 2642 mln loans 2863 mln vs 2359 mln note earnings per share data not presented for 1986 as great country bank converted from a mutual to a capital stock savings bank on jan 14 1986
faced with the possibility that he might have to go to the us virtually empty handed nakasone today ordered his ruling liberal democratic party ldp to come up with its own measures
shr 17 cts vs four cts net 373000 vs 82000 sales 101 mln vs 7825000 year shr 45 cts vs 27 cts net 981000 vs 595000 sales 345 mln vs 285 mln
it did not say when the new measure would come into force
quebecor issues 60 mln dlr convertible bond
it said about five mln dlrs will be spent to continue underground development and obtain operating permits and another 102 mln dlrs is expected to be required to complete underground development construct a mill and provide the infrastructure needed to put the mine into commercial production
traders said some slight production problems seem to exist but are unlikely to have any impact on the market
electro rent corp elrc 3rd qtr feb 28 net
the foreign exchange rate was set at 15440 yen to the us dollar
shr 13 cts vs 13 cts net 617000 vs 604000 revs 1889000 vs 1920000
webb investment properties or 89 pct of the total
centel corp cnt regular payout set
theres speculation on the street he just wants to move onto somthing else said one arbitrager
oper shr one ct vs 13 cts oper net 17806 vs 312692 revs 1318165 vs 2239349 nine mths oper shr 27 cts cs 28 cts oper net 640156 vs 671291 revs 5612818 vs 5632044 note oper excludes gain from discontinued operations of 15598 for year ago qtr and loss from discontinued operations of 49040 for year ago nine mths
if the whole purpose is to prevent imports one day it will be extended to other sources
ny business loans fall 195 mln dlrs in feb 18 week fed says
goodyear said it is selling its 50 pct interest in toyobo petcord ltd of japan to its partner in the venture toyobo co
amcs toledo ohio jeep plant has 1850 hourly workers on indefinite layoff while its kenosha wisconsin car plant has another 2250 on layoff
oracle systems corp said it has filed for an offering of 2300000 common shares after adjustment for a recent two for one stock split including 800000 to be sold by shareholders
the bank has not provided any assistance to the market so far today but earlier invited the discount houses to use their borrowing facilities at 1430 gmt today and set the terms at 10 pct for 14 days
the daily telegraph quoted jardine chairman simon keswick as saying hongkong land was at a crossroads now that all its non property assets as well as its major residential properties in hong kong are being sold off
pat roberts r kan predicted the reagan administration within the next ten days to two weeks will offer subsidized wheat to the soviet union under the export enhancement program eep
study predicts us dependence on foreign oil
hj heinz co hnz 3rd qtr jan 28 net
outokumpu acquired two swedish copper manufacturers in january 1986 metallverken ab and wirsbo bruks ab that were merged into its copper processing division
aside from the economic developments schlesinger added a steady monetary course was important to hold the dollar mark rate around current levels as bundesbank president karl otto poehl had said while attending the washington world bank imf meeting
nominal exposure exceeding 60 pct of capital must be reported to the bank of england and it must be notified in advance for exposure of over 150 pct of capital
restaurant associates industries inc said it expects to record a pretax gain of 33 mln dlrs in the first quarter from the sale and lease of real estate
lamborghini which is controlled by the mimran group of switzerland broke even last year on sales of 29 billion lire he said
president reagan said yesterday the threat to oil routes in the gulf from attacks by iran and iraq was high on the agenda for next weeks g 7 summit in venice
seasonally adjusted however there was a slight rise in unemployment
including acceptances loans declined 114 mln dlrs to 6589 billion
sales did not recover in february as much as retailers had expected and they are now looking for better business in march todays survey said
us consumer credit rose 536 million dlrs in jan vs 144 million dec gain
the buyback plan caused several analysts bullish on the stock to reiterate buy recommendations this morning and at least one increased his earnings estimates for gm based on a good performance expected from new car models
1986 year net includes gains on sale of west los angeles real estate of 9903000 dlrs
it explained a declaration of non compliance under the debentures would create a a default under the loan agreements requiring immediate payment of 18 mln dlrs of debentures and about 450000 dlrs outstanding under the bank credit line
chemclear said it is considering other options including other business combinations and financing through commercial lending and other financial institutions for internal expansion
salomon brothers inc said it raised its opinion on caterpillar incs stock to an aggressive buy from a hold because of a brighter earnings outlook for 1988
the pork standard price is now 540 yen per kilo and the ceiling 760
one dealer said he had been repeatedly in contact with the bundesbank during the morning to see if it wanted to buy dollars after the japanese and uk central bank moves
he said aerospace soft drink bottling and entertainment units are potential divestiture candidates
nordic investment bank has zero coupon bond
it said the cash payment would be based on the average market price of first financial during a period shortly before closing
exposures taken on by banks acting as creditor within their own group of companies would usually be looked into on a case by case basis under new proposals it said
four seasons hotels inc year net
presidential realty corp pdo annual net
it is useful to have a devaluation he said
the company has yet to set a date for the meeting but has said it will be held before the end of august
chi chis posted a third quarter loss of 10 mln dlrs including a 20 mln dlr pretax loss from the disposal of 21 company owned restaurants as part of a restructuring plan the rating agency noted
coupon rates on new 10 year government bonds minus 01 percentage points is the likeliest choice they added
mexico signed a rescheduling accord covering 120 mln dlrs in official debts to britain as part of a 18 billion dlr restructuring agreed with the paris club of creditors last year the finance ministry said
we have made steady progress in a period of market activity which has been marked by unprecedented activity william schreyer chairman and cheif executive officer and daniel tully president and chief operating officer said
the system calls on the agency to buy beef from trading houses and simultaneously sell it to users in one tender
hudsons bay writeoff mainly due to dome stake
general partners also left open the possibility of an alternative to an all cash offer
effective net yield on the first coupon will be 966 pct
shr profit 48 cts vs loss 21 cts net profit 1308503 vs loss 561384 revs 560 mln vs 661 mln note 1986 net includes pretax gain 2429563 dlrs from sale of worldwide computer services inc subsidiary and 352000 dlr tax credit
shr loss five cts vs loss 15 cts net loss 619000 vs loss 1730000 sales 3138000 vs 5667000 avg shrs 125 mln vs 115 mln year shr loss four cts vs loss 40 cts net loss 343000 vs loss 3963000 sales 134 mln vs 353 mln avg shrs 125 mln vs 103 mln
now with demand for products rising and efficient operations exxon should show superior earnings mlotok said
mark said the securities would consist of 23 mln series a special warrants at 11 dlrs each with each exchangeable for one common share and 25000 series b special warrants at 1000 dlrs each and each exchangeable for one 1000 dlr seven pct convertible subordinated debenture
bradley brly announces long term lease
the company said the deferral will reduce its thrid quarter revenues and earnings
analysts have said they are baffled by the strength of tafts stock price compared to what they see as breakup values for the company
note div pay may 27
the companys gas marketing business is expected to have somewhat lower earnings in 1987 because of competition in its operating region the annual report said
some banks have agreed to a three year deferrment of obligations due on letters of credit
a year ago westlb had forecast average growth of just under three pct for 1986 1990
president reagan and most congressmen have previously ruled out a tax on foreign oil as a way to curb imports and to help the depressed domestic oil industry
shr 28 cts vs 31 cts net 8117095 vs 8954904 sales 1467 mln vs 1330 mln avg shares 290 mln vs 289 mln first half shr 48 cts vs 53 cts net 138 mln vs 152 mln sales 2730 mln vs 2421 mln avg shrs 290 mln vs 289 mln
moodys may downgrade service merchandise smch 
sosnoff who tried unsuccessfully to acquire caesars world earlier this year said in a filing with the securities and exchange commission that he sold 338975 caesars world shares on october 15 and 16 at 2250 dlrs to 2525 dlrs a share
all sales covered by the credit guarantees must be registered and shipped by september 30 1987 usda said
japanese crushers buy canadian rapeseed
new production later this year from a bingham utah mine owned by kennecott corp a unit of british petroleum co plcs bp standard oil co a mine in new guinea and phelps dodges own expanded morenci ariz mine will be offset by production shortfalls in mexico and zambia he said
discussions on the possible extension of the sixth international tin agreement ita began at the quarterly session of the international tin council itc but the council is still waiting for decisions from various member states
the pound closed at 11825 11875 against the dollar compared to yesterdays close of 11560 11580
india australia agree to improve two way trade
eletrospace shares closed yesterday on the nyse at 30 1 8
hasco workers earned 420 dlrs daily considerably above the usual minimum wage of three dlrs
standard and poors corp said it cut to bbb plus from a minus data general corps 184 mln dlrs of senior debt
nordbanken to auction its fermenta shares
nacco industries nc to report 2nd qtr gain
american express said it anticipates a registration statement for the public offering will be filed with the securities and exchange commission shortly
the firm said its financial position enables it to achieve its goals and it has confidence for 1987
it said the estimate for domestically produced sugar supply for the same period was revised to 190400 tonnes from the earlier estimate of 195100 tonnes while imports were revised to 402000 tonnes from the earlier 435800 tonnes
canadian industrial production rose 253 pct in december after falling 051 pct in november statistics canada said
azpurua said financing had also been obtained for the expansion of alcasa another state aluminum company as well as for projects in the state steel and petrochemical industries
purchase of notes will be conditional on paperboard acquiring 982 pct of belkins shares from balaclava enterprises ltd
the treasurys operating cash balance totaled 16332 billion dlrs on march 6 compared with 17817 billion dlrs on march 5
the reality is that our debt service capacity has been totally affected by the recent cataclysm he added in a news conference last night
also on verhofstadts list are the maritime transport authority leading gas distributor distrigaz cger savings bank cger and several other credit institutions
but for debtors with substantial financing needs new lending will still be necessary he said
under the agreement the boeing subsidiary tbc holdings corp will begin the tender offer promptly
spains foreign reserves rise in february
the board suspended offerings last week but because of its urgent need for cash it was not immediately clear how long it could sustain the sources added
inc reut 4th qtr
the clouts are coming fom the west he said it then is a crisis atmosphere with officials cross the atlantic and dramatized with headlines
cabinet spokesman abdul aziz al otaibi quoted by the kuwaiti news agency kuna yesterday said foreign minister sheikh sabah al ahmed al sabah had told cabinet he had found complete support at this delicate phase during visits to gulf cooperation council gcc states
aristech chemical corp chairman and chief executive officer thomas marshall said analysts estimates of its 1987 fiscal year earnings of 225 dlrs to 250 dlrs per share are about right
they said they would mine 460000 tonnes of proven and probable mineable reserves of oxide ore grading 045 ounce gold per ton at a yearly rate of 112000 tonnes for a mine life of 425 years
royex said both series of preference shares will be convertible into royex common shares initially on a basis of 333 common shares for each preference share converted
the packages part of special ec trade agreements with tunisia egypt lebanon israel algeria morocco and jordan until 1992 include 615 mln ecus in grants he said
todd added that it has suffered financially because of the us navys unwillingness to release certain retentions under completed ship construction contracts and a general decrease in us military spending
mobil said it was confident 1987 would see a return to profit as it built further on its 1985 company restructuring
however dub said the offering sold out quickly anyway
goldfield corp gv 4th qtr net loss
to2727days arre27st came a2727fter narly two years of joint27 investigation by the public prosecutors and police who 27had questioned about 3000 of2727 the firms former employees27 police sou27rces 2727said
aep industries inc aepio 2nd qtr april 30
qtr ends jan 31 shr 326 dlrs vs 317 dlrs net 479 mln vs 467 mln revs 6731 mln vs 6302 mln 12 mths shr 754 dlrs vs 695 dlrs net 1111 mln vs 1024 mln revs 203 billion vs 188 billion
the simple act of publishing a budget restored a measure of confidence to the business community
portuguese february consumer prices rise one pct
export growth has been revised downwards to 37 pct from 52 pct due to the pesetas continuing strength against the dollar and slack external demand
french operators have requested licences to export 320000 tonnes of free market barley 225000 tonnes of maize 25000 tonnes of free market bread making wheat and 20000 tonnes of feed wheat at todays ec tender trade sources said
stanely also said the first quarters sales losses would be made up by shipments in the second quarter
ne electric sees higher construction outlays
travelers tic unit to buy realty divisions
the offices being sold operate under the name of city consumer serices inc in arizona colorado illinois maryland new mexico oregon and virginia
stals the countrys chief foreign debt negotiator said we are busy finding out how they banks feel
brazil has the capacity to export 20 mln bags this year calmon added
the ban had threatened food shortages of imported wheat fresh vegetables and medicines
national gypsum co a unit of aancor holdings inc said it is offering 300 mln dlrs of priority senior subordinated notes due 1997 with an 11 3 8 pct coupon and par pricing
roy f
shr 77 cts vs 76 cts net 13843000 vs 14478000 sales 3746 mln vs 3683 mln avg shrs 18003000 vs 19025000 year shr 216 dlrs vs 265 dlrs net 39503000 vs 51573000 revs 141 billion vs 141 billion avg shrs 18269000 vs 19497000 note 1986 period ended february one company changed fiscal yearend to january 31 from october 31
second quarter ended june seven
boston bancorp said its board declared a two for one stock split payable march 31 record march 17
that is really a strong rationale why we need a new gatt round he said
for a small currency it was miraculous he said the bolivar which averaged 2029 to the us dollar in 1986 would continue to slip from its current range of 2835 to 2850 because the central bank was rapidly running out of foreign reserves to support the currency on the free market
resorts international gets buyout proposal from ksz co inc
fisher foods inc said american financial corp has sold its 1500000 fishers shares a 44 pct interest to a group consisting of american seaway foods inc rini supermarkets inc and rego supermarkets inc the company said in connection with the transaction all five american financial representatives have resigned from its board
bank of france buying dollars for yen banking sources
mexico sees compromise on iadb reforms
that is 110 basis points more than the yield of comparable treasury securities
no further interest will accrue on the notes after the redemption date
the number of persons working part time for economic reasons fell in march to 546 mln from 578 mln in february
each 1000 ecu bond carries one gold warrant exercisable from may 6 1987 until may 6 1990 entitling the holder to purchase one ounce at an exercise price of 490 dlrs
the debt crisis has probably evolved beyond the capacity of commercial banks alone at least in some cases one top new york rescheduler said
1986 4th qtr and yr oper net excludes 8308000 dlrs or 152 dlrs per share and 7774000 dlrs or 154 dlrs per share respectively for equity in net income of spun off unit
deluxe has held an interest in data card since 1975 when it provided funds for data card to buy troy computer products corp
todays central bank action combined with sales of dollars by some banks helped ease a recent credit squeeze engineered by the monetary authority to stem a rush for the us currency arising from attractive us interest rates and gulf tension dealers said
us dollar losses propel broad commodity gains
the american pork congress kicks off tomorrow march 3 in indianapolis with 160 of the nations pork producers from 44 member states determining industry positions on a number of issues according to the national pork producers council nppc
shr 79 cts vs 73 cts net 22901000 vs 21042000 sales 3361 mln vs 3341 mln
because of our trading patterns over a period of decades we are in the process of building two canadas one that is rich and promising one that is under developed and under employed said mulroney
todd said the 75 ct preferred dividend will be paid may one to shareholders of record april 15
total exports for the month fell 209 pct to 2061 billion dlrs from 2606 billion in january
for the full year 1986 the index base 1963 stood at 166 after up four pct from the 159 recorded the previous year
i think theyll help each other he said
a cyclops spokeswoman said the company had no details of the new cyacq proposal and could not comment
campeau and edward debartolo complete purchase
shr profit 32 cts vs loss 130 dlrs net profit 2704000 vs loss 7589000 rev 1052 mln vs 823 mln note qtr net includes extraordinary gain of 11 mln dlrs
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
usda analysts gave the following enrollment breakdown wheat 2615140 acres corn 1894764 acres barley 705888 acres sorghum 585552 acres cotton 417893 acres rice 2035 acres peanuts 611 acres tobacco 285 acres total program crops 6512700 acres total nonprogram 4059702 acres total enrollment 10572402 acres usda analysts are currently working on a complete state breakdown of crop acreage enrollment and should have it ready for publication later this week they said
detroit edison said the bonds will be offered to the public this year and next with the first bond sale scheduled for early next month
us senators say sanctions likely on microchips
tanjug said yugoslavia also discussed with its commercial creditors the idea of converting some of yugoslavias debt into joint venture investments but it gave no details of this
owens illinois oi files 205 billion dlr offer
earlier chancellor of the exchequer nigel lawson announced in his annual budget to parliament that from today companies will be allowed to offset up to 10 pct of qualifying development expenditure on certain future oil fields against petroleum revenue tax prt to date full relief was allowed for expenditure on an individual field itself when its income stream began but was not immediately available against other development expenditure the statement said
prime minister poul schlueter said the downgrading of denmarks credit rating by the us standard and poors corp was regrettable but of little practical importance
baker when asked if the policy was changed in view of comments yesterday by a senior commerce department official who said he thought the japanese yen was undervalued against the dollar by 10 to 15 pct replied no yesterday robert ortner undersecretary of commerce for economic affairs said he thought the yen was undervalued but said that was his personal view
sosnoff a new york investor already owns about four mln of caesars 303 mln shares outstanding or about 133 pct and is caesars largest shareholder
a ministry official said earlier this week the ministry had recently surveyed currency transactions by investors but declined to say whether this aimed at reducing their dollar sales
slifer expects modest m 2 and m 3 growth rates of 3 1 2 to four pct during march
lower corn production prospects in some major supplying countries have stirred activity from big buyers such as japan and the soviets are also closely watching the situation the official said
trade sources told from the state capital of salvador that despite scattered rains since mid february which broke a six week drought plantations have not picked up as hoped and very little cocoa is expected to be gathered in the first three months of the may september crop
tanzania sells maize to malawi mozambique zaire
uk earnings rise 76 pct in year to january
oper shr 25 cts vs six cts oper net 840000 vs 139000 revs 8290000 vs 4743000 avg shrs 3335029 vs 2400000 year oper shr 97 cts vs 53 cts oper net 2546000 vs 1275000 revs 288 mln vs 185 mln avg shrs 2635665 vs 2400000 note net excludes investment gain four cts shr vs loss six cts in quarter and gain five cts vs loss six cts in year
in hong kong baldrige will hold meetings on april 27 with governor david wilson and trade and industry secretary eric ho as well as addressing the american chamber of commerce
uk chancellor of the exchequer nigel lawson said the government was going ahead with this months flotation of british petroleum co plc bpl shares despite the collapse on international stock markets
the united states has vowed to keep the gulf open to international oil traffic and has warned tehran against using the chinese made missiles recently installed in iran near the mouth of the gulf
this is a complex issue but i am very optimistic on an agreement he told reporters during the iadbs annual meeting here
the bank of france expects a continued revival in short term industrial activity but the outlook for any improvement in frances record 109 pct unemployment rate remains bleak the bank of france said in its monthly review
national micronetics inc nmico 1st qtr
oper shr 25 cts vs 25 cts oper net 6322000 vs 4660000 revs 1891 mln vs 1747 mln avg shrs 235 mn vs 171 mln year oper shr 104 dlrs vs 14 cts oper net 21929000 vs 3629000 revs 7602 mln vs 6748 mln avg shrs 205 mln vs 171 mln note qtr shr and net exclude tax gain of 4573000 dlrs or 17 cts share versus gain of 17259000 dlrs or 102 dlrs share year shr and net exclude tax gain of 15992000 dlrs or 78 cts share versus gain of 18042000 dlrs or 106 dlrs share
they concluded that present and prospective progress in implementing the policy undertakings at the louvre and in this statement provided a basis for continuing close cooperation to foster the stability of exchange rates
new brunswick scientific co inc nbsc 4th qtr
the non member cocoa issue has been among the most contentious in the rules negotiations
india bought up to 10 cargoes of white sugar at a buying tender today which originally called for just two to three cargoes of march april shipment traders said
cortronic corp ctrn year loss
executive board members of the international coffee organization ico passed over the issue of export quota negotiations at its regular meeting here delegates said
shr 23 cts vs seven cts net 911000 vs 293000 sales 881 mln vs 748 mln
new zealand ports reopened at 0730 hrs local time 1930 gmt march 22 after being closed since march 19 because of a strike over pay claims by watersiders a waterside federation spokesman said
japans three biggest gasoline marketers nippon oil idemitsu and showa shell suffered supply shortages under the production quota guideline in fiscal 1986 ended last march
first federal savings and loan association of charleston said executive vice president al hutchinson jr
cardis also said it expects to report a loss in excess of five mln dlrs for its first fiscal quarter ended jan 31 1987 on approximate revenues of 58 mlns dlrs
the statement said the payments were rescheduled for 1992 to 1996 under the accord which followed a multilateral rescheduling pact agreed by paris club creditor nations on november 19 1986
zambia clears imf 1985 debt
american continental corp amcc shelf offering of up to 250000 shares of 100 dlr cumulative convertible preferred stock through offerman and co inc
trade and industry department officials also declined immediate comment
on tuesday the federal statistics office said gross national product stagnated in real seasonally and calendar adjusted terms in the fourth quarter of 1986 compared with the third quarter
the following proposed securities offerings were filed recently with the securities and exchange commission weyerhaeuser co wy offering of four mln shares of convertible exchangeable preference shares through morgan stanley and co inc
non redeemable for two years the debentures have a mandatory sinking fund beginning in 1998 calculated to retire 70 pct of the issue prior to maturity kidder said
1985 both periods includes interest in rn koch inc since feb 8 1985
claims on the international monetary fund imf rose by 298 mln francs to 1961 billion francs due to net withdrawals in francs by member nations and an increase in reserves of special drawing rights sdrs due mainly to the repayment of french debts
revenues from the trail smelter totalled 356 mln canadian dlrs in 1986
delors quoted favouring franco german bid for cgct
terms were not disclosed
municipal assistance corp of ny to sell bonds
but amr said it was using rent a plane leases that allow it to operate the aircraft without adding to its debt structure
seton co said its board has received a proposal from chairman and chief executive officer philip d
morgan guaranty ltds novel and complex repackaging of westpac banking corps perpetual floating rate note frn may attract some investors but is unlikely to aid current holders of the westpac securities or the frn market frn traders said
despite great potential developing economies are still confronted by grave difficulties particularly debt he added
van driel said the company would continue an active takeover policy in the us but would be wary about paying more than its current price earnings ratio of 17 times net profit
pentair inc pnta offering of two mln shares cumulative convertible preferred stock series 1987 through kidder peabody and co inc and piper jaffray and hopwood inc
the company submitted their latest offer to the union at the same time announcing that they would end the lockout as of tomorrow that started december 14
the bank of england said the broad measure of uk money supply sterling m3 rose a seasonally adjusted 11 pct in january after a 02 pct rise in december
the bank has revised its estimate of the liquidity shortage in the market down to 250 mln stg from 300 mln initially
the company said hermetronics is expected to have sales of over 800000 dlrs for the year ending this month
this compares with its forecast of a shortage of around 800 mln stg in the system today
production of indonesias staple food rice is forecast to fall to around 263 mln tonnes from an embassy estimate of 2658 mln tonnes in 1986 according to the annual report on indonesias agricultural performance
tanzanian cotton threatened by lack of storage
mills lacked the capital to modernise and they competed with each other for raw materialsx it added
oper shr profit two cts vs loss 19 cts oper net profit 523000 vs loss 22 mln revs 1025 mln vs 399 mln 12 mths oper shr profit 11 cts vs loss 29 cts oper net profit 22 mln vs loss 29 mln revs 3044 mln vs 503 mln note all 1986 and last two months of 1985 include results of nico inc acquired oct 1985
dosher said last years fall in oil prices made feedstocks dramatically cheaper and at the same time the american dollar was weakening against foreign currencies
the extent of the adjustment was also modified
telxon corp tlxn sees higher revenues
shr 99 cts vs not given net 1943000 vs not given nine mths shr 235 dlrs vs not given net 4602000 vs not given note full name is gateway federal savings and loan association
objections to such loans have most often been raised by conservative republicans who have traditionally opposed us funding for these international development banks
terms were not disclosed
cominco clt to form exploration unit
compaq cpq expects higher first quarter net
between october 2 and 14 industrial equity pacific bought 918900 shares of calmat common stock at 33 dlrs to 3755 dlrs a share or a total of about 338 mln dlrs
the nasd had alleged that no registration statement for the shares was in effect
the only thing the manufacturer cares about is that the dealer sells those cars
shr 38 cts vs not given net 8616000 vs not given revs 2091 mln vs 1698 mln nine mths shr 176 dlrs vs not given net 345 mln vs not given revs 6320 mln vs 5515 mln note year ago per share and net income not available as company recapitalized on december 28 1986 after it became a new reporting entity for financial reporting purposes
this means traders could quote a two way price for the bonds but would not be bound to trade them
belgium cuts discount rate to 80 pct from 850 official
but santos alvite told reporters he hoped a first cargo of 300000 barrels could leave maracaibo this weekend to supply refineries near guayaquil
the certificates have a 6 1 2 pct coupon and initial price of 896 for a bond equivalent yield of 8 1 2 pct
the company said it discovered problems in its units computerized accounts payable system
1986 yr net excludes extraordinary loss of 66 mln dlrs or 194 dlrs shr involving 221 mln dlrs of costs from sale of bank assets to hongkong bank of canada eight mln dlrs for contingent liabilities in respect of litigation and potential tax reassessment by us govt and 359 mln dlrs of deferred tax debits
for this reason we have agreed to limit sectoral loans to 25 pct of the total leaving the rest for investment in projects he said
shr 136 dlrs vs one dlr net 1010249 vs 750856 revs 152 mln vs 119 mln 12 mths shr 324 dlrs vs 218 dlrs net 2407186 vs 1627250 revs 57 mln vs 531 mln
at present it can only issue coins of 500 yen or less
spedding noted that it needed about 12 dlrs a barrel to make money and at about 15 dlrs a barrel revenue from production and its downstream activities would push it comfortably into surplus
italys imi has no present plan for fiat issue
total petroleum tpn shuts texas pipelines
the proposals were approved as amendments to a comprehensive trade bill moving through congress this year
the company said the transaction is valued at more than 99 mln dlrs based on its 4963620 shares of stock outstanding
sprinkel also called the reference to stabilizing exchange rates at about current levels made at the paris meeting on february 22 a vague statement casting doubt on operators assumptions that a secret target level had been set
us frozen orange juice stocks march 1 102618000 gallons vs 97111000 year ago
and it includes provisions to tighten trade rules on copyrights patents and telecommunications goods
they said the australian dollar which last week touched an eight month high of 06900 us dlrs but is now around the 06800 level should not react adversely to the figures unless the current account shortfall tops one billion dlrs
in these matters theres many a slip between the cup and the lip as other governments have learned to their cost de mel said
he added the company could be introduced onto the paris bourse in the near future
the company said medtecs new client base could have a significant impact on long term revenues although it expects a minimal positive impact on earnings in the next six months
its a reflection of what has happened in manufacturing industries said brian waterhouse at james capel and co
national entertainment corp said shareholdersapproved a one for 25 reverse stock split and a name change to major video corp both effective march 16
dealers will be morgan grenfell lloyds merchant bank ltd samuel montagu and co ltd salomon brothers international ltd sumitomo finance international and sg warburg and co ltd
lifetime corp said it agreed to buy five mln shares or 16 pct of nippon lace co ltd for 328 dlrs a share or 165 mln dlrs
armor all products corp armr quarterly div
merrill lynch will lead the underwriting pillsbury said
us farmers who reorganize their operations to circumvent a cap on federal payments could add 23 billion dlrs to the cost of the governments agricultural programs by 1989 the general accounting office gao said
last minute opposition to gulf bill arises
with 81 pct of the membership voting 545 pct voted no and 455 pct voted yes the union said
shearson lehman brothers inc will act as dealer manager in the tender offer it said
bank officials said the march falls were due mainly to various measures by the bank to absorb excess money
a total of 5000 dlrs for work in encouraging mcdonalds to expand its mcrib sandwich to japan and singapore was also awarded to the meat export federation
payment is april 10
the boards cash crisis has serious implications for the economy as a whole since coffee accounts for 95 pct of ugandas total exports
the borrower is a state backed public corporation which provides 70 to 85 pct of the single family residential mortgages in alaska
investments 318 mln vs 317 mln
according to funaro the creditor banks agreed on the need to find a solution to the crisis he did not elaborate
discovery west said the notes will be convertible into eight pct convertible subordinated debentures which in turn will be convertible into common shares at a price of two dlrs a share
payment of the dividend was contingent on the closing bid price of the common stock averaging two dlrs or more per shares for the trading days within any consecutive ten day period ending before february 29 1988
the imf since the emergence of the debt crisis in 1982 has pressed many countries to tighten their belts and cut back on social spending as conditions to granting assistance
it said the companys interests in west virginia fire and casualty co congregation insurance co and national term life insurance co had been transferred to first national indemnity co which sold the three to celina mutual for cash an office building and related real estate
dwg corp dwg 3rd qtr jan 31 net
under the new arrangement neither party has to hold a futures position before entering into an efp and one or both parties can offset their cash transaction with a futures contract the next day according to exchange officials
sen
the spokesman said bp will not suffer supply shortages as a result of the explosion as it will be able to bring in product from other sources
the exchange rate has been set at 9684 yen to the franc
sheikh abdul aziz said plans to limit expenditure in 1986 87 had been taken in order to relieve the burden placed on the countrys foreign reserves
analysts said the packaging and labelling division could be sold for up to 150 mln stg
he said the company now has 4700 specialty stores operating under 30 different names
tigrel said a surge in public sector spending last year was also to blame for the high deficits
act said it made the move to concentrate resources on its pharmaceuticals subsidiaries
campeau said it expects to sell its remaining allied divisions in the near future
canada lease financing ltd 3rd qtr dec 31 net
futures soared through the 1000 points barrier today for the first time in the spot position since the market opened in may 1985
national self storage said has sold nine storage facilities to southmark corp for 371 mln dlrs
a meeting of leading politicians bankers and economists has forecast austrian real gross domestic product growth for this year at between 05 and 15 pct a government spokesman said
the commodity exchange inc said it is increasing the minimum margins for silver futures contracts effective at the opening of business thursday april 2
shr 124 dlrs vs 19 cts shr diluted 111 dlrs vs 19 cts net 119 mln vs 1830000 revs 793 mln vs 461 mln note 1986 net includes pretax charge 8300000 dlrs from increases and reserves and writeoffs of low yielding assets and pretax gain 208 mln dlrs from sale of multi family subsidiary
wind and waves will not diminish until late in the weekend
western mining corp holdings ltd wmngs wmc said it will establish a new joint venture gold mine in the northern territory at a cost of about 21 mln dlrs
french farmers are planning to cut their maize sowings by between 100000 and 150000 hectares this year from the 187 mln ha harvested in 1986 the french maize producers association agpm said
dart group corp said it has raised its offer to acquire supermarkets general corp to 4200 dlrs in cash and three dlrs in exchangeable preferred stock per supermarkets general share from 4175 dlrs per share in cash
4th qtr shr loss 17 cts vs loss 22 cts net loss 145 mln vs loss 180 mln revs 273 mln vs 237 mln year shr 58 cts vs 101 dlrs net loss 483 mln vs loss 842 mln revs 1117 mln vs 1419 mln note atlas consolidated mining and development corp of manila
baldrige said his remarks did not mean to suggest anything about the market or the exchange rate of the dollar
the debtentures will settle on march 10 1987
magma lowers copper price 025 ct to 6550 cts
china has total corn commitments for 1986 87 of 1011200 tonnes and soybeans commitments of 157500 tonnes
mitchell energy mnd again cuts capital outlays
shr 27 cts vs 28 cts net 1026000 vs 1025000 sales 278 mln vs 254 mln year shr 95 cts vs 16 cts net 3682000 vs 598000 sales 1021 mln vs 1004 mln avg shrs 3858000 vs 3700000
yeutter did not mention the recent us trade sanctions against japanese semiconductors in his testimony on the pending trade bill
pentagon officials said defence secretary caspar weinberger also opposes to the sale
the company also said the recently announced sale of a non core production equipment unit and a mexican subsidiary will not have a material impact on future revenues and will eliminate exposure to future losses
shares of crazy eddie which have jumped from the high 4 dlr range to above 7 dlrs since the antar belzberg bid was announced may 20 rose another 50 cents monday to 8375 a share in over the counter trading
ascs buys processed products for domestic use
the research team led by dr
the aim of the merger is to seek recognised investment exchange status as required by the 1986 financial services act
occidental unit oxy lifts lockout
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
march redemptions fell six pct to 441 mln dlrs last month from 468 mln dlrs in march 1986
donald houston administrator of usdas food safety and inspection service fsis told a house agriculture subcommittee usda was developing a proposed change in regulations that would put an end to the current practice of permitting foreign meat products to be unloaded at one port and inspected at another port
gold fields of s
us intervened to buy 50 mln dlrs against yen on january 28 fed says
coopervision said it bought the stake for 29 mln dlrs for investment purposes
but the consistent behavior of all three aggregates is likely to impress the fed said ward mccarthy of merrill lynch economics inc
computer memories inc cmin 3rd qtr loss
citicorp has extended its reach into the california market with citicorp savings acquisition of 50 of sears roebucks s sears savings bank branches bringing its presences to 143 branches in 101 communities citicorp savings said
growers had also called for the full 1987 forecast price of 2350 dlrs per tonne of cane to be paid in cash on delivery to the mill but this has been rejected by the state controlled fiji sugar corp ganilau said
such a rule would make investors more confident of trading in the eurobond market and would increase liquidity they said
all of the movement occurs at the opening afterwhich volume dwindles and momentum fades connery said
general cinema said the financing costs associated with its purchase of 35 mln carter hawley hale stores inc chh shares for 1779 mln dlrs and its 897 mln sterling investment in cadbury schweppes plc lowered first quarter net
it opens april 4 and closes april 29 and is underwritten by jb were and son rights will be traded on australian stock exchanges from march 23 to april 22 and the new shares will be quoted from june 4
banking sources noted that vneshtorgbank now has two facilities in the market since first chicago ltd was awarded a mandate last week to arrange a 200 mln dlr eight year loan at 1 8 point over libor
asked however if the bundesbank could move to cut rates on repurchase agreements at the setting of the next repurchase tender due next tuesday schlesinger said since the central bank council gives its opinion on this theme only every 14 days this is hardly probable responding to the question whether the bundesbank had moved away from a policy of targetting monetary growth toward one of targetting currency rates schlesinger said he could have no comment on the subject while negotiations were still in progress in washington
william rogers omni drilling partnership no 1978 2 and entex inc
faced with a belligerent domestic chip industry and an angry american congress the japanese government has been forced to walk an increasingly fine line in the semiconductor dispute trade analysts said
pl 480 commodities for honduras usda
indias 1986 87 castor oil exports fall traders
he said he sold the stock at a profit but did not disclose the selling price
during the final quarter last year imports rose 278 billion dlrs or three pct to 957 billion dlrs while exports rose 156 billion dlrs or three pct to 5733 billion dlrs
the us house agriculture committee approved proposals to extend the life of the export enhancement program eep through fiscal 1990 and urged the reagan administration offer eep wheat to the soviet union
keystone shareholders will receive 45 dlrs per keystone share payable in first of america convertible preferred stock having a dividend rate of nine pct
seasonal stabilisation seen for coffee prices
the lme had to decide whether dealer convenience should take a higher priority over customer satisfaction industry delegates said
the loans have to be treated as non performing after 90 days without a payment
in reply to questions poehl also said the half point cut in the discount and lombard rates on january 22 came after the us had signalled it would be prepared to attend a meeting to discuss the level of the dollar on condition germany made such a move in advance the sources said
he also said bra kanon would fulfil his duties as icco council chairman during the talks scheduled to end on march 27
nederlandse gasunie issues 100 mln dlr eurobond
completion is expected within the next year it said
fourth quarter 1986 also reflects writeoff of 207 mln dlrs of goodwill
foreign oil companies will spend less on exploration in indonesia this year than last budgeting 27 billion dlrs for calendar 1987 against 1986 spending of 28 billion dlrs the state oil company pertamina said
because of seasonal factors its difficult to determine what this means for the economy down the road said allan leslie of discount corp
montedison spa of italy said net consolidated profit for its agrimont group formed in june 1986 totalled 15 billion lire in 1986
centerre bancorp ctbc 1st qtr net
griffin technology inc grif 4th qtr net
statoil has been offered the operatorship on a new block in the relatively unexplored moere south exploration area south of haltenbanken with a s norske shell texas eastern and petroleo brasileiro sa petrobras also offered stakes in the block
first national bank corp the newly formed parent of first national bank in mount clemens mich and bankers fund life insurance co said it reached an agreement to buy a branch in clinton township from a nonrelated financial institution
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
from april through december 1986 the commodity credit corporation ccc issued 385 billion dlrs worth of generic certificates and about 18 billion had not been exchanged by january 1 1987 the us agriculture department said
new england electric systems auditors have again qualified the utilitys annual report because of uncertainty about whether its oil and gas subsidiary can recover its investments
the company said under the agreement prex holders would receive new medco shares representing a pro rata share of the 9159552 medco shares now owned by porex plus a pro rata shares of the cash value of other porex assets which is estimated at 60 mln dlrs subject to adjustment
changes set in dow jones industrial average
washington has pushed for veto power to be lowered to 35 pct from a simple majority as at present
sumita says bank of japan has no intention of lowering its discount rate
rockwood holding co rkwd 4th qtr net
silvercrest corp slv 1st qtr sept 30 net
mathematical applications said it is talking to debenture holders its landlord a lessor of equipment to the marketing operation and holders of liabilities pages is not assuming to arrange distribution of assets after the proposed sale adding these assets will be significantly less than its liabilities
qtr ended feb 28 shr 24 cts vs 24 cts net 100 mln vs 101 mln revs 2028 mln vs 1846 mln nine mths shr 66 cts vs 67 cts net 273 mln vs 276 mln revs 5882 mln vs 5392 mln note 1986 shr data adjusted for 3 for 2 stock split paid october 1986
brent would buy the casino companies and the freehold of 45 park lane in london
teikoku launches 40 mln swiss franc notes
feb87 jan87 feb86 africa 45 50 41 north america 354 389 353 latin america 115 121 98 east asia 7 9 16 south asia 72 79 72 europe 268 293 256 oceania 88 97 84
if argentina had the same difficulties in being unable to refinance its debt under the desired creditor conditions that brasils is a path to take machinea said
under terms of the agreement announced in january lincoln would be acquired by a unit of unicorp which is minority owned by lincoln president alton marshall
melnikov said that the united states has not lived up the agreement by failing to make available to moscow us grain at prevailing market prices
crime control inc said it reached a definitive agreement under which a subsidiary of hawley group ltd will buy assets and assume certain liabilities of crime control for 513 mln dlrs
american oil and gas corp aog 4th qtr loss
the nigerians also are attempting to reconcile creditors claims with their own receipts on some two billion dlrs of letters of credit contained in the commercial bank rescheduling
bsd bancorp bsd 1st qtr net
santos yesterday announced a 400 dlr a share takeover bid for the 9693 pct it did not already hold in oil and gas company tmoc resources ltd valuing the target at 2485 mln dlrs
before seasonal adjustment consumer credit outstanding totaled 58037 billion dlrs at the end of january compared with 53129 billion dlrs at the end of january 1986
the treasurys operating cash balance totaled 15018 billion dlrs compared with 15392 billion dlrs on april 9
the pacific lighting real estate group earned 242 mln dlrs and employed 800 people during 1986 the company said
but he said that even if all obstacles were removed total trade between the two countries would remain between two and three billion dlrs a year
swedish tyres process equipment and components firm trelleborg ab has taken a majority stake in boliden since the beginning of this year
i would imagine there will be a lot of politicking among producers behind closed doors to work up some kind of proposal by september the next scheduled council meeting bronwyn curtis of landell mills commodities studies said
courier crrc sees second quarter loss
the manager would buy cocoa on a competitive basis rather than choosing the cheapest cocoa as before giving preference to icco member country exporters
the bank of england said it provided the market with a further 442 mln stg assistance during the morning to offset a liquidity shortage it estimated at 160 billion stg revised up from 155 billion the bank bought outright eight mln stg of band one treasury bills and five mln stg of band one bank bills at 10 3 8 pct
saleh was replying to a question from after traders in london said indonesia had issued licences to import around 135000 tonnes of palm oil for delivery in april
dixons said earlier it would allow the offer to expire tonight
however some traders believe these figures are overstated and while some may still be held on the farm the bulk of wheat is already sold
a committee of independent directors previously obtained an opinion from first boston corp that the standard shares were worth 85 dlrs each 15 dlrs more than the bp offer
the bank has a resident office in dhaka and a south pacific regional office in vanuatu
hungary is to devalue the forint by an average of eight pct against western currencies the official news agency mti said
other sources said there were few forward contracts and speculative buying last month while delays in steamer arrivals aggravated the problem
the treasury said it received 2599 billion dlrs of bids for the three month bills including 12 billion dlrs in non competitive bids from the public
there is a 1 1 4 pct selling concession and a 5 8 pct management and underwriting fee
the plan calls for providing soft loans tax cuts and other fiscal benefits to exporters and raising spains presence in international trade fairs
its 999 percent i guarantee you a strike gralewicz said in an interview
the deal is fully fungible with the 125 mln dlr zero coupon deal on the same terms issued for the authority early last month hambros said
rank xerox said that of the 800 man workforce of rank xerox south africa 40 pct are black colored or asian
the offer would be made on the basis of 29 new williams shares for every 50 in norcros or 4327p a share norcros shares firmed to 410p at 0914 gmt from a close last night of 397p
this program basically communicates to the fda that we are concerned about safe drug use and will do our part to use drugs safely if fda will allow the same policy to continue in effect wehler said
it widened to 622 mln dlrs in january from 484 mln in december and compared with a deficit of 334 mln in january 1986 bank of korea figures show
jp stevens stn climbed 5 8 to 44 7 8 and fieldcrest cannon inc fld the result of a merger of fieldcrest and cannon rose 1 1 8 to 39 3 4
federal funds opened at 7 5 8 pct and remained at that level late this morning compared with an average effective rate of 755 pct friday
although no explicit target was set for the broad sterling m3 money supply lawson said broad money will continue to be taken into account in assessing monetary conditions as well as the exchange rate
out of this traders in france received 31000 tonnes in west germany 21000 in belgium 19050 in the uk 15800 in denmark 8500 in the netherlands 6000 and in spain 1000 tonnes it added
adb sources said bank staff have been stationed intermittently in jakarta in response to government requests
texaco refining and marketing inc is being awarded a 841 mln dlr defense logistics agency contract for jet fuel the defense department said
the treasury decided to end the treaty after negotiations between the united states and the netherlands over the past eight years had failed to reach an accord a treasury spokesman said
brazilian finance minister dilson funaros visit to europe has also brought the spotlight back onto the debt crisis after things had more or less quietened down following the first shock statements last week one frn specialist said
qtrly 42 cts vs 42 cts prior pay april 7 record march 20
the outlook is more worrying than it was a few weeks ago said societe generale economist alain marais
yesterday prices on the new york world sugar market plummeted by 058 to 050 cent on heavy liquidation by speculators disenchanted over the markets lack of rallying power
apart from payments for the nuclear power station the communications and telecommunications sectors in particular should contribute to growth this year kaske said
the spokesman said the relaxation of exchange controls highlighted a broader package of reforms announced last friday
but officials noted that poehl has worked closely and successfully with finance minister gerhard stoltenberg since kohls government took office in 1982
louvem plans option to buy back own shares
saudi output in 1985 had been the lowest since the 1960s
the delay was partly due to commercial banks desire to gauge customer reaction to a similar move by regional savings banks
im not sure miti can do much more than it has said jardine fleming securities ltd analyst nick edwards
artillery shells from an exchange of fire between iran and iraq fell on kuwaits northern border on tuesday but caused no casualties the kuwait news agency kuna said quoting a defense ministry official
the project was due to start in 1986 but problems over plans to sell some alumina to bulgaria caused delays
national computer told june 22 it could make a bid for datacard
no proposed dividend vs 10 crowns
a positive cash flow from operations and disposals continuing into 1987 has transformed our balance sheet keswick said
the move complicated a usair takeover offer for piedmont which was believed to be close to accepting the bid
the diw economic research institute said west german economic growth in 1987 is unlikely to reach the 15 pct rate it had forecast earlier this year
global raised 25 pct fuel oil by 45 cts to 1945 dlrs a barrel
the export sales will be subsidized with commodities from the inventory of the commodity credit corporation ccc the department said
day said some had already been classified as nonperforming or charged off as a loss but he could not identify how many were included in those categories
a turkish research ship escorted by warships and air force planes left for the aegean to press ankaras case in an escalating row with greece over oil rights the semi official anatolian news agency said
the striking leader began his fast as leaders of 9000 miners employed by the state corporation comibol were due to star negotiations on ways to solve their conflict over pay
us roastings of green coffee in the week ended march 7 were about 325000 60 kilo bags including that used for soluble production compared with 290000 bags in the corresponding week of last year and about 315000 bags in the week ended february 28 george gordon paton and co inc reported
federal funds which averaged 620 pct yesterday opened at 6 1 8 pct and remained there in early trading
the second two tranches of the equipment backed deal are non callable for five years drexel said
saturday will also be very windy and cooler with frequent showers
the nine pct bonds will be issued to a maximum of 325 mln dlrs
it also bought treasury bills worth one mln stg in band one and two mln stg in band two at the same rates of interest as bank bills
industrial equity pacific ltd a hong kong investment firm said it raised its stake in calmat co to 3712860 shares or 122 pct of the total outstanding common stock from 3312460 shares or 109 pct
the company also said it is reviewing its investment in santa fe southern pacific in light of sante fes announcement that it recieved several bids ranging from 750 mln dlrs to more than one billion dlrs for its southern pafific transportation subsidiary
the disney family already holds 101300 holly sugar shares or 90 pct of the total outstanding following purchases of 12500 shares march 13 april 17 shamrock told the sec
the soviet economy recovered slightly last month after a poor performance in january but major industries including oil and machinery are still short of production targets official figures show
there was also speculation that icahn would like to buy usair and then sell twa as a merged company
rexnord said the rights will be redeemed because it is expected its shares will be tendered under a january 30 takeover offer from banner acquisition corp
the spokesman was responding to a statement by turkish foreign ministry spokesman yalim eralp that ankara would take action to stop greeces oil activities beyond its territorial waters as they were a violation of the 1976 berne accord
usx corp chairman david roderick called for a lower value for the us dollar against other currencies to help speed a correction in the us trade deficit which last year reached 170 billion dlrs
colonial bancgroup said it and the liberty bank of pensacola fla signed a letter of intent for colonial to acquire liberty
oper shr 24 cts vs 19 cts oper net 1096332 vs 794711 revs 803085 vs 442420 six mths oper shr 53 cts vs 43 cts oper net 2375844 vs 1741437 revs 1471257 vs 768683 note prior year excludes income from discontinued operations of 19 cts per share in the quarter and 17 cts per share in the year
ja parini rospatch chief executive responded on january eight by saying the investment was a vote in confidence in the company
the gazetted price of ppo rose to 7968604 ringgit per tonne from 7198286
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
elders resources issue to raise 161 mln dlrs
the debenture will bear an increasing rate of interest over its term with a 73 pct weighted average rate and will be convertible into national computer common stock at 20 dlrs a share it said
we have a high degree of confidence that the western portion of the terra nova field contains at least 11 mln cubic meters of recoverable oil or more than 70 mln barrels and that we could produce it economicly using a floating production system petro canada said
there was a 50 mln stg rise in notes and coins in circulation in february after a 290 mln stg fall in january the bank said
romero said the philippines was at the end of a five year coconut production cycle which showed production tended to fall after two successive years of good harvests
the bank said the recipient of the 20 year loan will be oil india ltd oil which is the smaller of two public indian petroleum exploration and production companies
one dealer said the central bank bought about 200 mln dlrs through brokers and the rest through banks
imports rose in real terms by 51 pct against february 1986 while exports rose by a real 46 pct the office said
each of the original 17 foreign brokers had a 007 pct share but the securities industry said in a report accepted by the ministry that it decided to raise the share of some foreign firms due to their commitment to the japanese market
the philippines and its bank advisory committee completed a second day of talks on the countrys request to reschedule 94 billion dlrs of debts bankers said
the company said the asset sales have eliminated bc resources long term financing commitment in the north sea and exposure to the fluctuating pulp market
kloeckner und cos 1986 profit falls about 20 pct
even so japanese officials point to last septembers government programme of new economic measures
to stabilise the dollar at too high a level is wrong he said
mac said in defence documents that ward was the main negotiator in the battle for distillers against rival bidder argyll aylll group plc
efi is a medium term credit institution about 36 1 2 pct owned by banca nazionale del lavoro
early development of the larger miller and bruce oil fields might also be encouraged he said
the federal reserve board said it approved citicorps application to purchase through its subsidiary citicorp savings of oakland calif some assets and assume some liabilities of sears savings bank of glendale calif
this drain was offset in part by new currency swaps which had the effect of increasing the national banks foreign exchange holdings
cyclops employs about 8900 people in pennsylvania ohio and other states
mulford told congress last week the paris accord called in effect for currency stability for several months
home federal savings and loan association of upper east tennessee
migrant workers from surrounding countries make up more than half of the labour force in the mines
mobil corp said it will spend over 30 mln dlrs to upgrade a gasoline producing unit at its beaumont texas refinery
coastal cgp crude posting up 50 cts bbl
borden to acquire prince co for about 180 mln dlrs
yields could rise further over the next few months but the rise should be less than the 65 basis point rise weve seen since the start of the year held said
hoare govett asia ltd said the completion of 1100 flats in taikoo shing will have yielded profits of 300 mln dlrs in second half 1986
it said it expects 1987 north american heavy duty truck production to total 135000 units an 85 pct increase from 1986
it forecast a rise in consumer prices of two pct in 1988 compared with 13 pct in 1987
a dart spokesman said the 14 mln shares were sold in the market today
surprisingly strong us housing statistics for february cannot be taken as an indication that the economy is generating any momentum and are not sufficient cause to start lifting forecasts for first quarter growth economists said
saudi arabia has an opec quota of 4133 mln bpd under a production restraint scheme approved by the 13 nation group last december to back new official oil prices averaging 18 dlrs a barrel
computerland also said its network retail sales in 1986 totalled 145 billion dlrs
the meeting came after baker criticised west germany for increasing key interest rates saying they were not in line with last februarys louvre accord
shr 88 cts vs 73 cts net 2580000 vs 2147000 nine mths shr 248 dlrs vs 233 dlrs net 7266000 vs 5948000
it has said it was talking with other parties about selling its business
this is a civil action in new york and no one here has any proper details yet he added
the trend is likely to continue until other countries replace pakistan which usually buys all qualities of our tea he added
the issue is guaranteed by bankers trust new york corp
alliant and macneal schwendler sign pact
the kentucky public service commission in denying the increase asked the utility to meet with creditors which include manufacturers hanover corp mhc and irving bank corp v and the smelters to renegotiate a rate plan the utility spokesman said
society for savings socs to offer notes
he said some 75 pct of the money supply increase in 1986 was caused by a sharp rise in the inflow of foreign funds
but in the end a political decision has to be taken to give the go ahead one open question is that of a common peg for currencies
the lower costs that should now be possible especially after the rationalisation of the loss making minerals division should allow the benefits of an oil price recovery to come straight through to 1987 profits without being cut back by other sectors
the bank said that if these loans remain on non accrual for the remainder of the year net income for 1987 would be reduced by about 49 mln dlrs
if the bank of england keeps the interest rates as they are whats to stop it going higher said john cox executive director of ebc amro bank ltd a major operator on the london foreign exchange market
the six states have different currency systems
bank of england offers early help to money market
insee said production in january was affected by rail strikes and severely cold weather
qtly div 55 cts vs 55 cts prior pay april 25 record march 31
the name of the game now is outbound sales forces customer service and customer support said levy of international data
santos chairman sir brian massy greene said in a statement that increased production particularly of oil and lpg along with reduced operating costs and reduced or deferred oil exploration and development outlays were helping santos deal with an adverse business climate
in january and february the airline said total systemwide revenue passenger miles were up five pct and 11 pct respectively over the same months last year
d exporter holds option to fill commitment with supplies from origins other than us e accumulated exports since season began based on data reported by exporters
taft earlier rejected a 145 dlr per share or 135 billion dlr bid from the investment group
of the weeks borrowings money center banks accounted for 65 pct and small banks for almost 35 pct
we are making efforts to eliminate them with the help of balanced interest from all parties he said
but this freedom from regulatory restraints also has meant other banks that were better managed have gotten stronger seidman said
proxmire said the pre notification requirement was meant to prevent arbitragers from having a jump on the general public in knowing about coming takeover attempts
private exporters reported sales of 150000 tonnes of barley to saudi arabia for delivery in the 1987 88 season the us agriculture deapartment said
nicolls said he expected the dollar to go as high as 06875 and perhaps to 69 cents tomorrow
the group of 10 developed nations issued a communique welcoming the reaffirmation of the paris accord on currency stability by the group of seven leading industrial democracies yesterday
zambia does not plan retail maize price hike
fiscal 1986 net profit includes a pretax gain of 72 mln dlrs on the sale of some land an after tax loss 135 mln dlrs from discontinued operations and an after tax gain of 67 mln dlrs from a change in accounting
their product is simply deals and that is not a product which a country can base a future on last year mercer fought off a takeover attempt by british industrialist sir james goldsmith
acc corp 3rd qtr net
exports of these teas are likely to rise to 95000 tonnes in 1987 from 85000 in 1986 and around 90000 in 1985
the fed is currently frozen into a fixed stance said economists at aubrey g
the exercise period runs from april 8 1987 until march 6 1989
calumet industries inc said it expects to report a loss from operations for its second quarter ending march 31 despite a strong unit sales increase
trade views differed on the amount of sugar likely to be released today
this week many of the same experts gather in the same building here to try to agree on how the cocoa pact reached last summer should work
it is a real snake pit at best and a powder keg that will blow sky high at worst said wisconsin rep
the dividend on a post split basis is 26 1 4 cts per share
nerci ner unit closes oil gas acquisition
acton auto rental initial offering starts
even in the absence of economic rationale in the tin market psychological optimism alone is sufficient to secure a price recovery of up to 20 ringgit per kilo the bulletin said
in january the current account surplus provisionally narrowed to 49 billion marks from 85 billion in december
say said its board of directors approved the units sale because omnilab was losing about 140000 dlrs a quarter
allegheny international sells wilkinson sword group for 230 mln dlrs
terms were not disclosed
pakistan allows private cotton rice exports
usda winter spring potato estimates
healthvest said it acquired the eastwood hospital medical complex in memphis from healthcare international inc for 50 mln dlrs cash
intercare also said it increased its reserve against accounts receivable
there was also a loss on other investments of 46 mln dlrs and a loss on operations of 361 mln dlrs after interest depletion depreciation and income tax recoveries
the cut is the second announced by the bank in the last week following a cut from 185 pct effective last monday
he said he believes such a merger could create a stronger force in the tire industry
in the heart of the corn belt you would not get that much participation collins said
ferruzzi paris unit seen absorbing cpc purchase
large interest rate changes were often needed to bring about small changes in the guilder mark exchange rate he added
a one billion stg tranche of 8 3 4 pct treasury loan stock due 1997 was exhausted in very early trading on the uk government bond market only minutes after becoming available for trading dealers said
national amusements already owns 196 pct of viacoms stock
recent intervention by the bank of japan appeared mainly to have been required to meet year end window dressing demand for yen
kodak said it secured worldwide marketing rights for three of enzons peg enzymes used in the treatment of oxygen toxicity disorders hyperuricemia and gout
the economys performance in the future very much depends on fiscal policy he added
novar electronics novr sees results improving
the dollars plunge and low yields on us bonds will further promote diversification into other foreign investments as well as call back funds into the domestic bond and stock markets from overseas bond markets securities bond managers said
a motion is scheduled to be heard on march 16
qtly div five cts vs 2 1 2 cts prior pay june 10 record may 29 note prior payment adjusted for two for one stock split declared recently
the company said however it substantially restructured its business reducing borrowings on an outstanding credit line to 165 mln dlrs in 1986 from 57 mln dlrs a year ago
most western economists have for years allowed for a certain padding of figures when analysing soviet statistics for industrial production
agency reports 30 ships waiting at panama canal
leading australian onshore oil and gas producer santos ltd stoss said its 1986 results were hit by sharp reductions in prices for crude oil condensate and liquefied petroleum gas lpg the cooper basin producer earlier reported a fall in net profit to 8867 mln dlrs from 14404 mln in 1985
us meat industry launches campaign in japan
he told a press conference in jakarta at the end of a two day meeting of south east asian energy ministers that he saw prices stabilizing around 18 dlrs a barrel
three for two stock split pay and record date subject to shareholder confirmation may four qtly dividend 5 1 4 cts vs four cts pay may 15 record may one note dividends declared on pre split shares
novell inc said the dividend to effect its previously announced two for one stock split will be distributed april 13
most recently the fob price was set at 87 pct of the 1752 dlrs per barrel government selling price gsp of arabian light
schroeder hohenwarth told a news conference the further fall of the dollar since the start of this year and the revaluation of the mark against european currencies meant west german exporters were facing a rough wind however domestic demand was continuing to rise and private consumption in particular would support the economy he said
while financial results are far from the previous years record levels it is clear that norcen has withstood declining prices and remains financially and operationally strong norcen said
shr 135 dlrs vs 127 dlrs div 39 cts vs 39 cts prior net 14291000 vs 13211000 revs 526 mln vs 511 mln avg shrs 10234000 vs 9936000
eib issues 40 billion yen eurobond
spain will shortly sign with saudi arabia an order for barley for april may delivery trade sources said
mobil mob adds natural gas reserves in 1986
but according to the merrill lynch economists there are signs the pall hanging over the us bond market is lifting a bit
production of capital goods fell 2 1 2 pct while output of consumer goods was unchanged
an agricultural official of the shanghai government put maximum imports at about 10 mln tonnes this year against 773 mln in 1986 and 597 mln in 1985
usx x unit raises some crude postings
the proportion of world wheat output produced by the five major exporters declined in the period covered by the survey from 40 pct in 1982 to 35 pct in 1987
the shares were bought at 31325p each
but they said there was little chance japan could react quickly enough to avert the higher tariffs
s p upgrades texas air tex units certificates
ideally we the government should have a full term but events could force a premature poll lawson said
such a move does not necessarily free icahn of twa they said
gaf corp said its board has authorized the repurchase from time to time of up to seven mln of its common shares or about 21 pct for cash in open market purchases or private transactions
canada the worlds largest potash producer exported 98 mln metric tonnes of potash last year with nearly a third going to the us most of the potash used in the production of fertilizer comes from provincially owned mines in saskatchewan
that growth put existing trading systems and clearing houses under pressure and unification of the six sovereign exchanges should accelerate the development of screen based trading and a single clearing house industry sources said
deak buys johnson matthey commodities
the bundesbank should take further steps to reduce german interest rates to protect the mark from further appreciation and to persuade investors to bring long term yields lower commerzbank ag cbkgf management board chairman walter seipp said
shr diluted 118 dlrs vs 104 dlrs net 450 mln vs 392 mln assets 167 billion vs 152 billion deposits 130 billion vs 121 billion loans 119 billion vs 101 billion note results restated for merger of midlantic banks inc and continental bancorp inc on january 30 1987
terms were undisclosed
lifting exchange controls is the final answer but the central bank is not prepared to do it
shr loss 10 cts vs profit seven cts net loss 918000 vs profit 585000 revs 5475000 vs 4430000 year shr profit 32 cts vs loss 24 cts net profit 2909000 vs loss 1501000 revs 237 mln vs 150 mln note 1986 4th qtr net includes 15 mln us dlr or 17 ct shr writedown of stake in hecks inc hex and 300000 us dlr or three ct shr writedown of arbitrage positions
nippon kokan steel affiliates considering merger
it said major factors contributing to the third quarter improvement were an 11 pct gain in unit volume by consumer foods continuing good profit growth at red lobster usa and strong performance in specialty retailing
rumors that new york investor asher edelman has acquired a stake in polaroid corp and optimism about tomorrows status hearing on the patent infringement suit pending with eastman kodak co ek sent polaroids stock higher traders said
shr loss 27 cts vs loss 227 dlrs net profit 2150000 vs loss 14700000 revs 1213 mln vs 698 mln note shr after payment of preferred stock dividends
italys buitoni acquires vismara food group
traders and analysts agree a simple reaffirmation of the paris accord will not be enough to halt the decline in the dollar nor will central bank intervention
because more than half of the banks baulking at the mexican deal are american some foreign bankers think other us banks should make up the difference
a confidential world bank report on the peruvian economy has said the governments strategy does not offer good prospects for medium and long term growth and is likely to lead to an early renewal of inflationary pressure
shr three cts vs three cts net 165798 vs 143872 sales 1787561 vs 1072686 six mths shr four cts vs four cts net 175928 vs 191310 sales 3137695 vs 2723557 avg shrs 4862046 vs 4722150
the comprehensive trade bill is to be considered by the full house in late april and then will be considered by senate committees
but he said the quarter was going well and the rise in copper prices in the last month will help results
payment on the principal of government debts is officially projected at 273 billion dlrs in 1987 88 against 211 billion in 1986 87
british petroleum completes standard oil merger
woolworth underwoods fail to agree on bid
the unadjusted jobless total in may including school leavers alos fell a record 121000 to 299 mln or 108 pct from aprils 311 mln 112 pct
animed inc vets 1st qtr jan 31 loss
the 54 member contact group was examining a colombian proposal to resume quotas april 1 under the ad hoc system used historically with a pledge to meet again in september to discuss how quotas would be worked out in the future they said
the us is drafting options including possible trade retaliation against argentina in a dispute over the differential between soybean and product taxes which buenos aires levies on exports
prior year figures exclude loss from discontinued operations of 39 mln dlrs
previously servicemaster said it would pay in 1987 an indicated cash distribution of 150 dlrs a share including 95 cts a share which would be paid before april 15 1987
invacare corp ivcr 4th qtr net
goldman sachs said it originally bought the stake as part of its arbitrage business
malaysias 1987 current account is expected to be in the black with the central bank projecting a 500 mln ringgit surplus compared with last years 12 billion ringgit deficit
weizsaecker said argentina has had difficulties with the european community over trade barriers and subsidies for grain exports
central banks are likely to play a role in halting the advance in currencies through intervention the analysts said even though the dollar fell to a 40 year low against the japanese yen on monday despite bank of japan intervention
redstones newest plan raised the amount of interest he would pay on the cash portion of his offer for every day beyond april 30 that a merger with arsenal is not consummated
dry weather covered winter grain areas in western and central algeria but soil moisture was likely adequate to meet crop demands it said
qtrly div 30 cts vs 30 cts prior pay april 30 record april 3
we cannot predict when the uncertainties that presently trouble us will end but we are confident we are managing them aggressively he added
the basic balance of payments deficit in february fell to 402 billion dlrs from 417 billion in february 1986 and 737 billion in january
painewebber group inc pwj gained 1 5 8 to 37 1 8 and merrill lynch and co inc mer rose 1 3 8 to 42 7 8
kawasaki steel issues novel 30 mln dlr eurobond
hechinger hecha convertibles upgraded by s p
iraq turkey oil pipeline cut by landslide
bass one of the bass brothers of fort worth texas has been reported as owning about 25 pct of taft stock and american financial corp chairman carl lindner has been reported to own about 16 pct
the loans have been made through the international development association ida the banks concessionary lending arm and the african facility a three year ida administered fund that supports economic policy reforms in sub saharan africa the bank said
us current account deficit record 3684 billion dlrs in 4th qtr 1986
wajax ltd year net
long term deposits of several of the parents banks were reduced to aa minus from aa but short term deposit ratings were left at a 1 plus
federal resources fdrco acquires retailer
treasurys baker says he hopes prime rate increases temporary
this would entail an increase by each side of 350 to 400 mln stg over their present export levels
the compromise requires that buffer stock purchases from non icco member countries cannot exceed 15 pct of total buffer stock purchases delegates said
taft broadcasting co said the sale of its independent television stations to tvx broadcast group which had been set for yesterday did not occur
crazy eddie inc said its board has adopted a defensive shareholder rights plan and said it has reacived inquiries on a friendly merger
the estimate came in mts acquisitions proxy statement to caesars world shareholders describing its offer of 28 dlrs a share for their stock which was announced this morning
far east operations of fine china subsidiary royal doulton ltd are being expanded in the wake of record recent sales in japan it added
german bond yields seen falling in near term 
the seaway said 1985 was its worst year in two decades
qtly div 10 cts vs 10 cts prior pay april 30 record april three
in june 1986 sosnoff requested a seat on the caesars world board a request that has not yet been granted
the agency said the project was expected to account for 44 pct of indias total production of zinc
the fire weakened part of the mines support structure coffin said
for the time being the fed is following a neutral path with fed funds at about six to 6 1 8 pct said darwin beck of first boston corp
shr loss two cts vs profit 10 cts net loss 76000 vs profit 357000 sales 8987000 vs 153 mln 1st half shr loss 12 cts vs loss seven cts net loss 440000 vs loss 246000 sales 132 mln vs 206 mln
the two either lost money or had marginal profitability in recent years he said
the company also said claims for subordinated debentures would likely be paid at less than their 100 pct of their face value and general unsecured claims would likely be paid without interest
earlier it reported net income for the two month period of 231 mln dlrs of 151 dlr a share
saturdays hog slaughter is guesstimated at about 30000 to 55000 head
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
even actions by the british australian and canadian monetary authorities to curb the rise of their currencies should also enhance the attractiveness of their respective bond markets the salomon brothers economists said
its publication follows a long debate among bankers on the amount of information that should be provided by borrowers heightened by difficulties with swiss franc issues here on recent occasions it applies to all notes in units of at least 50000 swiss francs the usual denomination which are placed directly with customers by the syndicate and not quoted on the bourse
but guillaumes warning that he would reject reorganisation of the ec cereal and sugar markets france being a major producer of both crops won him warm applause from the fnseas farmers
comb co said it has acquired the principal assets of national tech industries inc and telkom corp which are engaged in the sale and telemarketing of consumer electronic merchandise and do business as house of imports and nl industries respectively
trizec said it will file a preliminary short form prospectus on the issue with securities commissions across canada
shortly after the communique was issued and just as foreign exchange trading opened in tokyo the bank of japan intervened again to prevent the yen rising too quickly
london cocoa trades at lows by midmorning
thor energy resources thr year jan 31 loss
in the last three to four months there has been a resurgence of inquiries he said
public relations consultancy shandwick plc said it had agreed to buy the los angeles based rogers and cowan inc which specialises in the entertainment industry
shr 477 dlrs vs 165 dlrs net 613 mln vs 211 mln revs 3129 mln vs 2915 mln nine mths shr 951 dlrs vs 498 dlrs net 1223 mln vs 639 mln revs 9504 mln vs 8818 mln note 1987 net in both periods includes gains of 242 mln dlrs or 188 dlrs a share from sale of interest in detroit cellular telephone company and 61 mln dlrs or 47 cts a share from sale of interest in sportschannel cable programing network
it said the delay is due to administrative considerations including conducting appraisals in connection with the acquisitions
financial performance fpcc pursues expansion
in a major area hit by drought san miguel practically no rain has fallen in the past 14 months
in a filing with the securities and exchange commission mark iv said its top officials told baird executives at a march 17 meeting that while mark iv may buy more baird common stock it presently intends to hold it to the 25 pct limit
delegates would not speculate on prospects for agreement on a quota package
he added that earnings per share would exceed analysts estimates of as high as 42 cts a share
the soviet union outlined its economic targets for 1988 on monday stressing the need to improve standards in the countrys sluggish engineering industry
swedish industrial production rose 26 pct in february after a 18 pct fall in january showing a 44 pct rise over february 1986 and reaching its highest level ever the central bureau of statistics said
otf equities inc otfe 4th qtr net
it said in a statement actual retail sales fell to 187 billion nz dlrs in january against 242 billion a month earlier and compared with 178 billion in january 1986
the first phase of the plant located in qinghai province will have an annual capacity of 100000 tonnes of ingots half the capacity of the finished plant
it said the two companies which had combined 1986 revenues of about two mln dlrs provide underwriting information services to property and casualty insurers
most economists predict growth slower than the 3 pct forecast by the reagan administration for 1987 and warn that if the dollar drops suddenly higher inflation will result and add to the risk of a recession
canada is the united states largest trading partner with two way trade more than 113 billion dlrs in 1985 according to the coalition
australian fourth qtr gdp rises 11 pct after 02 pct third qtr rise official
hre said in the first quarter ended january 31 it earned 38 cts per share down from 47 cts a year before
that was the date of the first mexican debt crisis
talks to restore quotas collapsed early last month when producers and consumers failed to resolve differences on how quotas should be allocated
caltex petroleum corp a joint venture between chevron corp chv and texaco inc tx said it raised posted prices for several petroleum products in singapore effective today
a spokesman said shell and the utility agreed to not disclose the length of the contract or the price of the gas which he described as competitive with a market sensitive escalation formula
japans ruling liberal democratic party revealed its own economic package today calling for more than 5000 billion yen in additional spending
southland slc unit raises crude postings
rabobank issue in heavy demand on amsterdam bourse
a supreme court spokesman said oconnor granted a stay of the injuction allowing the merger worth nearly 860 mln dlrs to go through as planned later today
another four billion dlrs was cut by what i call creative timing changes like moving the military payday from the last day of fiscal 1987 to the first day of fiscal 1988
a harbour employees workers union spokesman told reporters there will be no ship movements in and out of ports from midnight on sunday 1200 hrs gmt march 15 there will be no loading or unloading involving harbour board workers and the cook strait ferries which provide a vital link between new zealands north and south islands will not run he added
as previously announced icn also said it authorized the additional purchase of up to 15 mln shares of viratek common
he also said wheat will not be considered for a cash bonus under the conservation reserve program
riyal trading in the gulf on saturdays and sundays has become very quiet with london closed while some saudi and bahrain banks now staff offices on friday the gulf weekend
the company cited irreconcilable differences in the financial structure of the deal
but hofer said other important matters at the white house rather than an absence of political pressure might have restrained lyng
those who supported us today can be sure that mexico will continue to be open and willing to share with them the business opportunities which its future growth will create petricioli said
proceeds from the sale will be used to repay debt and for other corporate purposes the company said
usda said soviet coarse grain imports include 1986 87 corn imports which it forecast at 800 mln tonnes vs 600 mln tonnes last month
icn icn has five pct of syncor scoro 
canadian roxy has a 35 pct interest in the five year royalty free well known as the canadian roxy et al trout a14 8 89 3 w5m
under the new rules a firm must be the book running lead manager during the two preceding years of 12 internationally distributed debt issues denominated in us dlrs or in one of eight other major currencies
the national bank said the drop was due to a deterioration in trade
the directors unanimously expressed their strong desire to preserve the companys independence and take advantage of its considerable future prospects according to director winthrop knowlton former chief executive and now chairman of the newly established independent committee
oii said each common share still outstanding at the time of the merger has been converted into the right to receive 6050 dlrs per share and all preference shares not converted will be redeemd on april 22 at a redemption price of 100 dlrs per preference share plus accrued and unpaid dividends
south korea plans to increase the size of its budget in 1988 by 11 to 12 pct from this years 15596 billion won economic planning board officials said
garcia said the government would soon install a two mln dlr treatment plant at tomaque
stoltenberg noted the government expected imports to rise by a real four to five pct in 1987 with exports stagnating
nippon telegraph and telephone corp ntt expects its profits to fall to 328 billion yen in the year ending march 31 1988 from a projected 348 billion this year the company said
analysts said this was a new peak for the date
demand for platinum could reach 34 mln ounces by 1991 compared with an estimated offtake of 288 mln in 1986 chris clark platinum marketing director for johnson matthey plc said
french retail prices rose a confirmed 02 pct in may compared with a 05 pct rise in april and 02 pct in may last year the national statistics institute insee said
fed buys 550 mln dlrs of bills for customer
asked if opec would increase production if prices went above 18 dlrs a barrel he said this would be decided at the next opec meeting in june
dole who last year pledged to offer legislation to require a marketing loan for major crops but never did so again called for the marketing loan for wheat and feedgrains
habbel said audi expected the rise in output to lead to further new hiring of employees
all local staff and management will remain the same it said
cattle slaughter is guesstimated at about 124000 to 128000 head versus 129000 week ago and 134000 a year ago
shr 38 cts vs 25 cts net 28339000 vs 18650000 sales 227 billion vs 197 billion avg shrs 74485000 vs 74270000 year shr 120 dlrs vs 123 dlrs net 89301000 vs 91247000 sales 907 billion vs 791 billion avg shrs 74387000 vs 74184000 note 1986 period ended february 22 1986 1986 earnings include net loss of unconsolidated subsidiary of 162000 dlrs in the quarter and 702000 dlrs for the year
together with the five mln rexnard shares it already owns the company said it now holds a 97 pct stake in the company
the bond is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
talking point gencorp inc gy 
the shares closed at 390 dlrs today down 25 cents on yesterday after etl withdrew on reaching the top foreign shareholding level permitted without foreign investment review board firb approval
the finance ministry has asked commercial banks to moderate their dollar sales jiji news agency reported quoting financial sources
they are guaranteed by news corp ltd
there are plenty of capable firms steven w
coastal corp said it belives the two billion dlr suit against it by transamerican natural gas corp in texas state court is frivolous and without merit
yeutter said american exporters will find it far easier to deal with one standardized worldwide system than the variety of differing systems which they now face he said the new system ended 12 years of multinational negotiations to create the unified tariff schedule
according to kna moi thanked camdessus for the imfs help to kenya during difficult times in the past
the new site is expected to produce about 250000 lbs of uranium in its first full year of production in 1988
traders said it appears that the industrial nations known as the group of seven lack the ability to change the long term direction of the currency markets
magellan a company without operations that was formed to acquire an operating entity said it plans to engage in the development and marketing of a battery charger product owned by balzac
the company said fa had sales of 431 mln dlrs for 1986 and expects to report a loss for the year
lsb bancshares inc lxbk raises payout
in a statement the commission reiterated its view that the industry needs to lose between 25 and 30 mln tonnes of capacity by 1990
they were so startled they wanted to hold back and see what would happen the drop in sales of new single family home sales was sharper than expected some economists said
sales gained to 141 billion dlrs from 130 billion dlrs
an agreement between cbot and liffe in early february on mutual settlements is expected to link us treasury bond futures trading in london and chicago enabling a continuous 12 hour session bond managers here said adding the move was made with yen bond futures trading in mind
allis chalmers ah proposes restructuring
the bill will be the cornerstone of congressional efforts to restore competitiveness of american industries and turn around last years record 169 billion dlrs trade deficit
the facility is being lead managed by hongkong and shanghai banking corp
the contract received commodity futures trading commission cftc approval on january 21 after being submitted for review last october 13
skylark co ltd sklkt 1986 year
season for soybean oil begins oct 1
shr 126 hk cents vs 42 adjusted final div 30 cents vs 10 making 40 vs 10 net 479 mln dlrs vs 157 mln turnover 104 billion vs 105 billion note profits excluded extraordinary items 52 mln dlrs vs losses 426 mln
zemljaric said the international monetary fund criticised yugoslavia for not regulating consumption not having real interest rates or market exchange rates for its inability to control monetary policy and slow pace of reform
another factor which could be delaying the opening of registrations is the current strike by bank workers which while not affecting current shipments could affect documentation and currency operations for new sales
universal communication ucs to sell assets
the fed has to determine if this represents a fundamental change for the dollar
non refundable for five years the issue is rated aa 2 by moodys and aa minus by s and p
volume reached 38402 contracts up from the previous record of 16349 contracts set april 9
but over the year as a whole domestically generated inflation reached 25 pct offset by a 28 pct drop in imports
the estimate for 1986 sugar production was unchanged from last month at 748472 tonnes raw value the chamber said
chock full onuts corp said it filed a registration statement with the securities and exchange commission for a proposed offering of 60 mln dlrs in convertible senior subordinated debentures due 2012
enfield corp ltd said it planned to issue 60 mln dlrs principal amount of notes and 16 mln class e preferred shares at 25 dlrs a share
managing board chairman dieter spethmann told the annual meeting the group was satisfied with profit developments in the first half of the 1986 87 financial year to september 30
boeing co said it has started the 37 dlr per share tender offer for all shares of argosystems inc that it announced yesterday morning
the companys shares are traded in the us as american depository receipts which were issued through an offering by morgan stanley group inc ms earlier this month
this drop was mostly due to a decline in opec crude production to around 155 mln bpd in february march from 165 mln bpd in january and to the seasonal drop in exports from centrally planned economies the iea 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
italy worried at rising tension after gulf attack
azuma steels current losses are estimated at 31 billion yen in the year ending march 31 against a 699 billion loss a year earlier a spokesman said
farouk urged consuming countries to promote early accession to the new pact to avoid an undue gap between the old and the new
reagan last year had blocked senate consideration of a tough house trade bill he branded as protectionist and this year only reluctantly agreed to support a trade bill when he saw democratic leaders were determined to pass a bill
agency officials said this was the worst performance since 1974 when gnp contracted 14 pct in the wake of the first oil crisis
miyazawa says major nations have intervened aggressively since dlr fell below 150 yen
the 1986 icca has been in effect since january 1987
in 1986 river thames reported net premiums written of 36 mln dlrs
minority interests 31 mln vs 52 mln
commercial banks and life insurance companies are the main supporters of a farm loan secondary market because they believe it would allow private lenders to compete more effectively in rural lending with the quasi government farm credit system traditionally the largest lender to farmers
daiwa headed a syndicate that won the rockwell notes in competitive bidding
shr profit one ct vs loss one ct net profit 128112 vs loss 30170 sales 1620707 vs 1325406 avg shrs 9306031 vs 3499219 six mths shr nil vs loss nine cts net profit 25890 vs loss 322675 sales 2915077 vs 1845003 avg shrs 9283631 vs 3499219
it said in a statement the rise was mainly due to inflows of foreign currency through the exchange stabilisation fund which resulted in an increase of 1241 billion francs
exxon official urges planning for next oil surge
lim said he could not estimate the amount of extra money which needed to be spent on research into new uses before the new paper was produced
the bank earlier reported profit for the first quarter ended january 31 fell to 114 mln dlrs from 140 mln dlrs a year ago
the company said it changed its fiscal year end from august 31 to december 31
the finance ministry last april shortened the waiting period before issues could flow back to japan to 90 days from 180
ccl also said it agreed to exchange present and future technology with envases
we supply and they japan buy a very high quality of beef
st
however the impact from venice will be nothing if nothing changes horner said
chi chis chic takes 20 mln dlr charge
allegheny ai sued over proposed buyout
nippon steel inland discussing us joint venture
newmont gold 95 pct owned by newmont mining corp said it expects significant increases in gold sales in 1988 and 1989 as well
quebec caisse earns three billion dlrs in 1986
he told a press conference foreshadowing the banks annual meeting next week for the banks it is convenient to be repaid
with that relationship growmark no longer needs to trade futures through the cooperative said tom mulligan president of the co op
us dlrs
the pacific coast council has recommended acceptance of that proposal by membership todd said
in particular they stress new techniques that shift the emphasis from debt to equity and shave interest rates
kodak said the division will discontinue production of polyester partially oriented filament yarn or poy at its carolina eastman co plant in columbia sc and will idle 100 mln pounds of older polyester staple fiber production capacity mostly in columbia
market sources mentioned anheuser busch inc bud and pepsico inc pep as alternatives to coke as acquirers
us bank accounting guidelines do not require loans to be placed on nonaccrual unless interest payments are past due 90 days or more
matushita electric trading co ltd is issuing a 100 mln dlr equity warrant eurobond due march 30 1992 paying an indicated coupon of 2 3 4 pct and priced at par lead manager nomura international ltd said
cominco ltd cuts lead price in canada
simon was unavailable for comment
the partnership said gencorp failed to say how it would provide a superior value yet they continue their attempt to prevent a satisfactory offer by failing to redeem their poison pill poison pills are shareholder rights plan that make takeovers more expensive
edelman group committed to telex tc bid
taiwan power firm plans more foreign debt cuts
spanish refiner plans gasoline additive plant
cambridge shopping centres ltd said wholly owned cambridge leaseholds ltd privately sold 100 mln dlrs of secured debentures
a novacor official later said in reply to an inquiry that the new prices effective april 1 would range from 31 us cts a pound to about 38 cts
substantial progress has been made in talks and we will now have to define more precisely what projects can be financed from foreign borrowing he said adding that loans for steel and aluminium and iron ore sectors could be the first to materialise
the federal statistics office said earlier this week that february import prices fell 07 pct against january while export prices were unchanged
with imports coming down from 18 mln last year to one mln there is legitimate concern about the impacts on caribbean countries and the philippines huckaby said
in addition it said it will loan lin 1200000 dlrs to support its operations
but he said in a speech and remarks to the heritage foundation that in the end the marketplace will ultimately rule the day asked about the future of the dollar he said that whether or not it would rise or fall depended on economic policies and coooperation among trading nations
the company said the impact on its results for 1987 was not likely to be significant but the amount to be charged to prior periods had not been determined
the company said lead underwriters are alex
each of the five locals have separate contracts all of which expired april 30 but the main issues are similar
shearson said it offered the novel cds yesterday to mostly institutional investors
transfer payments narrowed to a 140 mln dlr deficit last month from a 185 mln deficit a year earlier and a 225 mln deficit in january
the transportation department also rejected a request by the teamsters union which represents some psa workers to require protections for psa workers
we expect a much larger oil search in papua new guinea and discovery of much larger volumes of oil similar in quality to light bass strait crude fesharaki said
the recipient of the loan will be sas grand hotel beijing joint venture co ltd which is owned 50 pct by the china international exhibition centre and 50 pct by the two swedish firms
entertainment said the offer would be conducted through a negotiated merger with a new corporation to be formed by entertainment marketing
pakistani decision will hurt kenyan tea exports
philip morris mo unit sells subordinated notes
us defense officials told yesterday that kuwait had decided for at least the time being not to accept a us offer to use american warships to escort its tankers in the gulf where both iran and iraq have been attacking shipping
they believed these two firms were awarded bonds by the carmaker as well
exxon corp said that forgeries of a 20 year zero coupon euronote issued by its exxon capital corp subsidiary have been discovered in the european market
they said fear of hurting the dollar will cause the fed to be cautious in lowering interest rates further
de clercq told journalists there is a certain nervousness a growing impatience within the community on trade relations with japan but diplomats said the community is keen to continue talking with tokyo to try and solve the problem rather than embark on a costly and damaging trade war
terms of the acquisition were not disclosed
power corp details preferred share subscription
us to sell 132 billion dlrs in bills
an agreement has been reached to trim the bill back to 1987 wheat but supporters of a 0 92 feedgrains plan said even that scaled down version would not be equitable for farmers
one syndicate official at a firm not involved in the deal said its tight but overall i would say its fairly priced also launched was a five year zero coupon bond with a total redemption amount of 19 billion yen for rural banking and finance corp of new zealand
there will be alot of other options that will be considered before congress looks at that one the amstutz proposal said bill oconner aide to rep
regular trading hours for the contract will be from 0900 to 1305 central time
standard and poors corp said it is reviewing debt of caesars world inc with negative implications following new york investor martin sosnoffs 7252 mln dlr bid to buy the caesars world common shares he does not yet own
varlen corp vrln declares qtly dividend
okada expects the dollar to trade between 148 and 150 yen this week but sees the chance of a drop to 140 yen by the end of april or early may
rabbit software rabt to merge with cti data
ghana lifts rice maize import ban due to drought
the company said it now owns 56 pct of viratek as a result of these transactions
compaq reported earnings of 83 mln dlrs or 30 cts a share and sales of 144 mln dlrs for the first quarter 1986
it added that it had appointed david lyon currently managing director of redland plc rdldl as its new chief executive
us selling 17 billion dlrs of 9 20 day bills
it added markets should therefore be aware that 180 marks is not the lower limit for the dollar a rate of 170 marks or even less is expected this year and london broker hoare govett said in its march 1987 economic report we are looking for a further more gradual fall possibly to 160 marks by the end of the year but opinion about whether the paris accord was still in force was not universal
the lifting of the cross compliance on oats permits the planting of oats in excess of the oat acreage base without sacrificing eligibility for other crop program benefits
total revenue was eight pct lower in 1986 at 797 billion guilders vs 87 billion guilders in 1985
yeutter said the proposed tax is a flagrant violation of the spirit of gatt because it would imperil the zero binding duty on us exports of soybeans to europe
the 1390 per barrel price for 1986 was 101 dlrs higher than the figure originally announced by the central bank
spie batignolles has held a 20 pct stake in comstock since february 1986
home shopping also said it entered a definitive contract to buy tv station kpst channel 66 in san francisco and kltj channel 49 in dallas
thai sugar production increases
kenneth morrison staff associate at the government accountability project said inspectors consistently disclose violations of federal law demonstrating a serious breakdown in the entire inspection system morrison told of chicken fat for flavoring being contaminated by intestines dragging in a water trough used to flush away the condemned product fecal material human spit chewing gum and paper towels used by plant employees to blow their noses donald houston administrator of the us agriculture departments food safety and inspection service fsis defended the governments program calling it one of the most respected public health programs in the world fsis inspects an estimated 127 mln head of cattle and 45 billion chicken and turkeys every year
the figure is virtually the same as the 477 mln mark 1985 parent company net profit
saudi displeasure with the agreement has long been noted and in april industry publications said that renegotiation were being sought a fact later confirmed by with aramco
royal bank said it keeping its 1987 loan loss experience estimate unchanged from the last quarter at one billion dlrs
overall i think we will issue at least a few times a week korkman told 
shr 14 cts vs six cts net 653561 vs 251955 revs 4143056 vs 2199238
reagan proposed 22 billion dlrs in revenue as part of his 1988 budget proposal but it did not include general tax increases
uganda disappointed by coffee talks failure
shr 374p vs 30p
twa also said it is amending its application with the department of transportation to seek control of usair
bally bought the great america theme park in gurnee ill in may 1984 for 1132 mln dlrs from marriott corp mhs in 1986 the parks had pretax operating profit of 486 mln dlrs on revenues of 3694 mln dlrs
the companys test division accounted for about ten pct of total revenues in the year ended sept 30 1986 and is currently running a revenue rate of under two mln dlrs per year it said
southland has been advised that the commission has issued a private order of investigation concerning the trading of southland stock during various times in 1987 and the issuance of various public statements by southland southland said in a proxy statement to shareholders
it was the second consecutive monthly fall after dropping nine pct in january but it was still 2649 pct up on february 1986 following a very extended rise last year
galactic said under the prior accounting policy the summitville mine expenses would have been amortized over the life of the mine and charged against future earnings
longer term yields fell with 10 year bonds at 1366 68 pct from 1374 before the release and highs of 1387 yesterday
grain ships loading at portland
the bond for bhf finance jersey ltd pays annual interest on april 28 and investors pay for the bond on the same day
latest year net both periods includes gain 9100000 dlrs from sale of interest in memphis tenn shopping center
hoechst ag unit to raise 500 mln dlrs
but the issuers actually realize savings on borrowing costs
repayments of government debt amounted to 33 mln dlrs
he forecasts a rise of two pct after januarys 67 pct slump
a teamsters union agreement to certain labor contract conditions remains to be resolved under the pact
however on this issue also lyng has taken a strong stand within the reagan administration arguing that the 1988 crop wheat acreage reduction should be left at 275 pct and not 30 pct as sought by the office of management and budget omb
frn dealers said paper of us and also of canadian banks was seeing some pressure as a result of recent press reports focussing on their exposure to latin american debt
moodys also said it expects the company to have strong earnings this year
decembers 29 pct was the previous worst level since the governments management and coordination agency began compiling statistics under its current system in 1953
but growmark became affiliated last year with archer daniels midland of decatur ill and markets its grain through a joint subsidiary of the two companies adm growmark
turnover 182 billion dlrs vs 183 billion
if the australians had come a little bit earlier they might have had more luck i think holden brown said
the official said china has taken measures to improve its export performance including incentive offers to exporters and the establishment of export production bases
a storehouse official confirmed that the issue was aimed at swiss and german investors who were showing good interest
standard and poors corp said it affirmed the b plus rating on avx corps 28 mln dlrs of subordinated debt
qtly div five cts vs five cts prior pay april 17 record march 16
chrysler c unit buys beneficial bnl unit
alberta energy co ltd said it filed a preliminary prospectus for an issue of convertible debentures which may total 100 mln dlrs depending on market conditions
savin svb note conversion ends
citibank na is issuing up to 50000 currency warrants which give the holder a call right on us dollars from marks or yen citicorp investment bank ltd said as sole manager
oppenheimer the brokerage and investment subsidiary of oppenheimer group inc told the securities and exchange commission it sold its entire 60 pct stake of cyclops corp
de clercq noted the different dimensions of the chinese economy and those of hungary and yugoslavia the two current socialist gatt members
dealers in all centres agreed that markets would be wary in pushing the dollar too far too quickly in the coming months while central banks appear resolved to use their muscle to support the paris accord
the bank official said commercial bank reserves were 2219 billion pesos at the end of december when reserves required were 2159 billion
a sinking fund beginning in 1998 to retire annually five pct of the debt may be increased by 200 pct at the companys option giving it an estimated minimum life of 1385 years and maximum of 205 years
santana said despite a strike threat by oil industry workers and a two week stoppage by brazilian seamen petrobras oil stocks are reasonably balanced saudi arabia is brazils second biggest oil supplier with an average 115000 bpd
the action increases moroccos cumulative fiscal year 1987 program for wheat under gsm 103 to 750 mln dlrs
metromedia said oneplus uses a local switched network rather than dedicated connections to link customers to the nearest metromedia long distance switching center and could save customers up to 35 pct off of competitors rates for long distance service
resource said gas produced from the property will be transported through its existing pipeline
banc one one makes indiana acquisition
great american first savings bank is issuing a 15 billion yen eurobond due april 2 1992 paying five pct and priced at 101 3 4 pct lead manager nikko securities co europe ltd said
the meeting has been requested in order to amend the negative pledge and financial covenants which have proved to be too restrictive in light of the companys activities it said
lawson said he was still worried about the risk of a simultaneous recession in the united states japan and west germany though less so than when he gave his march 17 budget speech to the british parliament
residential permits fell 39 pct to 125 billion dlrs from 130 billion dlrs in october while the number of units approved fell to 17552 from 19079 units
economists said the debt agreement would have no significant impact on economic problems continuing to face south africa including high rates of inflation and unemployment labour unrest and political uncertainty
nabisco will buy them back at 10750 traders said
senate finance committee chairman lloyd bentsen d tex called on major industrial countries to make a pledge at the coming economic summit in venice to cut interest rates
lyng would not comment on what farm issues were discussed
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
but none predicted a surplus
oper shr primary 28 cts vs 17 cts oper shr diluted 24 cts vs 17 cts oper net 1826000 vs 1104000 revs 2054 mln vs 1711 mln avg shrs primary 6512462 vs 6510462 avg shrs diluted 103 mln vs 103 mln year oper shr primary 83 cts vs 76 cts oper shr diluted 77 cts vs 74 cts oper net 5393000 vs 4955000 revs 7199 mln vs 6335 mln avg shrs primary 6511591 vs 6508379 avg shrs diluted 103 mln vs 9122722 note revs includes investment income 2323000 dlrs vs 2239 dlrs for qtr and 101 mln dlrs vs 6612000 dlrs for 12 mths
it said new plantings had slowed markedly in both countries but the effects of this will not be felt until 1988 90
homestead also said that class b shareholders who want to increase their dividends may exchange their shares for an equal number of class a shares on or before march 20
crazy eddie crzy may make acquisition
brazils economic plan may permit new debt talks
bond international said in the document that except for the 240 mln dlr loan the deal would be financed from internal resources and by selling an interest in the building
i think theyll figure out what theyre going to do with the money they have he said
qtly div five cts vs five cts prior pay april 15 record march 30
the three day meeting was dominated by the dispute and by the failure of brazil and its creditor banks to make any breakthrough on debt talks after brasilia suspended interest payments last month
trintoc is likely to put up land refinery plant and machinery as equity
the investigation which is still active mushroomed in recent months as a growing number of well known traders and prominent investment banking firms have been charged with wrongdoing
canada threatens ban on danish pigmeat imports
furthermore that greenspan was not named two months ago suggests that he was not the administrations first choice and that the status of his appointment was as a bridesmaid horner said
video said the shares are to be purchased by louis wolfson iii senior vice president of venture w inc national brands inc j
wendys wen declnes comment on market rumors
negotiations to delay shipments to next year have been indecisive so far the main sticking point being how brazil should compensate buyers for non delivery of sugar it had sold at around five cents per lb and which would cost eight cents to replace
akers was most encouraging said painewebbers smith
while consumers do not yet have a common position an observer said after a consumer meeting they are much more fluid and the tone is positive european community consumers were split on the question of how the cocoa buffer stock should be operated when the icco met in january to put the new international cocoa agreement into effect delegates said
nippon is expected to report parent company results in late may
mark iv is a williamsville ny maker of pastic products and industrial control equipment
mark iv industries inc iv which has said it may consider a bid to seek control of baird corp said baird has not agreed to hold off on any defensive measures without giving mark iv at least 24 hours notice
bank of japan buys dollars in tokyo dealers say
western issues structured settlement annuities for the settlement of personal injury and damage claims and sells tax sheltered annuities
australian current account deficit seen narrowing
treasury secretary james baker facing the toughest challenge to his third world debt plan so far is expected today to stoutly defend the strategy
qtly dividend 28 cts vs 28 cts pay april 24 record april 10
net for 1985 year includes loss from sale of securities of 315763 dlrs or eight cts a share
mcleans mii us lines sets asset transfer
el paso electrics january rate case will remain before the commission pending approval of the settlement
diplomats said that conable was expected to press suharto and leading economic ministers to maintain the pace of policy change particularly in dismantling indonesias high cost protected economy
pittston said its burlington air express subsidiary generates about two thirds of its 450 mln dlrs in annual revenes with its domestic air freight services
the seamen began a national stoppage on february 27
the company said the transaction is subject to hughes tool co ht and baker shareholder approval of the baker hughes merger
amr also has the right to decline delivery of the planes or return them on short notice
the sources had said possible candidates for the governors job include prince abdul aziz ibn salman ibn abdul aziz who earlier ran a research center at saudi arabias university of petroleum and minerals and former deputy planning minister faisal beshir
dealers and analysts warned that the dollars decline would probably be uneven
completion of the proposed transaction subject to regulatory approval is expected in mid july it said
the situation is unchanged consumer spokesman abraham van overbeeke told reporters
i would say japan is applying the full court press they certainly are putting both feet forward in terms of explaining their position fitzwater told reporters
she said evergreen will use the funds raised from the stock market to buy new ships and step up its global services
aug 31 shr loss 34 cts vs profit 39 cts net loss 2337000 vs profit 2532000 revs 661 mln vs 585 mln avg shrs 7166000 vs 6763000 12 months shr profit 26 cts vs loss 120 dlrs net profit 1815000 vs loss 7927000 revs 2643 mln vs 2297 mln avg shrs 7005000 vs 6621000 note results include pretax restructuring provisions of 42 mln dlrs and 225 mln dlrs for 1987 and 1986 respectively
the surge in reserves is the result of our trade surplus and recent purchases of us dollars on the local interbank market chang said
shipments of major home appliances in february rose 91 pct to 35 mln up from 32 mln a year ago reported the association of home appliance manufacturers
oper shr 91 cts vs seven cts oper net 4356774 vs 289764 revs 692 mln vs 502 mln avg shrs 4736692 vs 4151672 note 1985 net excludes 3027714 dlr loss from discontinued operations
whale securities recommends buying the stock harlow said
a malaysian oil palm growers council official borge bek nielsen has said studies have shown that palm oil is cholesterol free low in saturated fats has anti cancer properties and prevents blood clotting and blocking of arteries in humans
notes in circulation rose 360 mln to 277 billion as the public withdrew cash to celebrate this weeks carnival festival or take an end of winter holiday break dealers said
wallenbergs fight bid for swedish match stake
marshall steel details gain from unit sale
the securities of the xerox corp unit are not callable for seven years
final test inc fnlt 4th qtr loss
general motors acceptance corp canada is issuing a 100 mln canadian dlr eurobond due october 15 1992 paying 8 1 2 pct and priced at 101 1 2 pct lead manager union bank of switzerland securities ltd said
first womens bank investor group offer expires
note loss 1986 includes 39 mln dlrs for restructuring costs associated with disposal of property
the 57 cts per share in earnings reported for the fiscal year ended in february was lower than 1978s earnings he said
all ticket and its subsidiaries will also co sponsor various events this year including the british open golf tournament and rowings henley regatta
kent rockwells father
shaws operates a chain of 49 supermarkets in massachusetts maine and new hampshire which in 1986 produced sales of 11 billiob dlrs and pretax profit of 311 mln
us house and senate budget negotiators agreed as part of an overall budget accord reached yesterday to cut 125 billion dlrs from fiscal 1988 spending on agricultural programs congressional sources told 
the offer will expire april nine
oteiba said stabilization of the oil market in the future depended on how much discipline opec showed
his ministry was formerly known as the industry and mineral resources ministry
it said the discovery was made in sands previously untested in the area
bankeast corp benho 1st qtr net
group balance sheet volume rose by 80 pct to 14815 billion
placer pacific hopes for misima gold approval soon
transtar said the new april one schedule will offer 21 daily departures from new orleans to 11 cities in florida texas nevada and california
dataproducts dpc to buy imaging solutions
bank of japan intervenes just after tokyo opening
peter greenbaum of smith barney harris upham and co inc expects a one pct rise in income led by a strong gain in wage and salary disbursements in february
madeira in letter of intent to be acquired
chrysler c has no plans to raise bid
the united states has been considering the possibility of seeking access to a military base in zaire but no decision has been reached
banks which bid for a total 122 billion marks liquidity will be credited with the funds allocated today and must buy back securities pledged on may 6
application has been made to list the debentures on the new york stock exchange
total erickson resources ltd tlexf year net
shr 28 cts vs 14 cts net 3110000 vs 1286000 revs 1127 mln vs 938 mln avg shrs 112 mln vs 9148000 nine mths shr 58 cts vs 15 cts net 6377000 vs 1332000 revs 3078 mln vs 2338 mln avg shrs 109 mln vs 9148000 note company 814 pct owned by primerica corp pa
us feb housing starts rose 26 pct to 1851 mln permits rose 44 pct to 1764 mln
mizrahi editor of mideast reports expects opec to meet before june although not immediately
omar said 375 mln pounds would be spent on subsidising sugar and wheat flour prices in 1987 88
the increasing presence of ec wheat in brazil comes at a time when the brazilian wheat board bwb expects the wheat import market will expand to 34 mln tonnes from the current forecast of 30 mln in the 1986 87 year
fed not expected to act in money markets
german wage round said to limit monetary options
fairfax also pointed to the cyclical downturn in revenue growth in the television industry as another reason for the flat first half earnings
the paper said depositors could now withdraw all or part of their account subject to a branchs reserves instead of only a fixed amount as previously
silvano ghirardi head of the groups international marketing operations said he expects ciba vision to become possibly the second leading vision care products company in the industry by the end of the year
the commissions determination that perry unit 1s power is not needed could depress duquesnes earnings and cash flow well into the future
no heavy coffee export implied colombia official
crude traditionally accounts for up to two thirds of ecuadors exports
the mainichi shimbun quoted nippon steel as saying that chinas state planning commission and some chinese firms have asked japanese makers to sell them steel works and rolling mills to expand steelmaking cheaply
seipp said there were no grounds to paint too black a picture of the german economy since company profitability had improved over recent years and domestic oriented firms were profiting from cheaper imports because of the rise in the mark
channon said japans trade surplus is causing everyone problems its surplus with the united states last year was 515 billion dlrs and with ec nations 167 billion dlrs
sumitomo last august agreed to pay 500 mln dlrs for a 125 pct limited partnership in the bank but for the time being at least the federal reserve board has forbidden them to exchange personnel or increase the business they do with each other
officials at waste management could not be reached for immediate comment
combustion engineering inc said its c e environmental systems and services inc unit agreed in principle to acquire ec jordan and co a privately held firm based in portland me
a report on cable news network today said sun chemical has 49 pct of outboard and is conducting a study on whether to go for control of the whole company
bankers trust co is trustee
south korean finance minister chung in yong will resist pressure for a currency revaluation to cut south koreas trade surplus with the united states when he meets treasury secretary james baker next week finance ministry officials said
poehl is in a dilemma
proposals are on the table for a seventh replenishment of funds totalling 20 billion dlrs for the period 1987 90 plus 29 billion carried over from the sixth replenishment
mlx mlxx unit agrees to by abex unit
energy prices were 122 pct below year ago levels
gowland said transcanadas offer is probably a fair price for the companys 361 mln acres of oil and gas land holdings
a cold air mass working its way south from canada may pose a threat to developing hard red winter wheat in oklahoma according to eugene krenzler wheat specialist for the oklahoma cooperative extension
the unadjusted consumer price index for the tokyo area base 1985 in mid march rose 04 pct from a month earlier to 1006 reflecting higher vegetable prices
it is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
bankers expect rule changes this year
but some bankers who declined to be identified said the halt also suited mexico as it would keep up pressure on the banks during the final campaign to persuade all 400 creditors worldwide to participate in the loan
the council said that in the talks canada is chiefly interested in minimizing the imposing of us duties against allegedly subsidized exports
goody products inc said it entered into an agreement to sell its j
svenska cellulosa ab scabst 1986 year
non callable for five years the issue is rated b 3 by moodys investors service inc and b minus by standard and poors corp
pre paid provides insurance for legal services primarily in the private sector
the company said it believes an acquisition could be completed by june 30 subject to approval by regulatory and atlantic mutual policyholders
it said details would be released tomorrow
this amount is equal to 363 mln dlrs at the free rate of 150 sucres to the dollar the rate swett said reporters should use in calculating the dollar equivalent
banca nazionale del lavoro an italian bank will obtain a security interest in tidewaters assets in italy
mccarthy noted that the slower money growth coincides with signs that the economy is losing momentum as the quarter progresses
grand metropolitan plc said its grandmet usa inc unit decided to sell its physical fitness and exercise equipment business
mees en hope declined to comment on the size of the second tranche but said the first tranche ended march 10 was for 50 mln guilders
the pressure on reagan to retaliate included a unanimous call by the senate last week to impose penalties on japanese high technology products containing semiconductors
the presidents position is that he is opposed to it he said
the trade deficit in the first four months fell to 164 billion schillings from 175 billion in the same period last year while in april the deficit was 41 billion compared with 69 billion in march and 36 billion in april 1986
citytrust bancorp inc citr 1st qtr net
the 50000 tonnes of australian wheat would arrive in bangladesh next month and be sold under open market operations designed to stop price increases the officials said
french producers failed more than most to take advantage of last years oil price falls and growth hopes now rest on the shaky prospects of expansion in other industrial countries like west germany and japan they say
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
contract terms were not released
the countrys trade deficit totalled 202 mln dlrs in 1986
lennar len sees strong earnings for 1987 year
stormy weather to disrupt north sea shipping
since then nearly all the families in the county have built new homes and many factories have gone up last year we lost land to a new railway line xu said
asked about retaliation she said sometimes its better not to be specific us trade representative clayton yeutter monday warned another major transatlantic trade row will develop if the ec proceeds with the vegetable oils tax
permian basin royalty trust said that as of december 31 1986 its estimated proved reserves totaled 185 mln barrels of oil and 529 mln mcf or thousand cubic feet of gas
we thought we saw a proverbial flood of new deals with the 14 we had last month but it seems march will beat february hands down with 10 already one eurosterling specialist said
theres no evidence of that he said
we may see and hope for a steady upward climb but we wont see a major increase for a number of years hemsley said
belgian state loan raises 1688 billion francs
ab catena in which ab volvo volvst has a 48 pct stake said it was proposing a two for five stock issue that will raise the companys equity capital to 420 mln crowns from 300 mln
the bundesbank did not intervene as the dollar was fixed lower at 18063 marks after 18231 on friday dealers said
flowers said losses suffered in its west texas operations and in five plants acquired at the start of the third quarter from cfs staley continental and wolf baking co severely hurt results
the latest guarantees increase the cumulative fiscal 1987 program for sales of us agricultural products to algeria to 4640 mln dlrs from 3800 it said
concepcion speaking at an informal meeting of the general agreement on tariffs and trade gatt here said ministers declared in uruguay last september that the trade of less developed nations should not be disrupted
shell canada ltd said its shell canada products ltd unit will sell three tankers effective april one 1987 to socanav inc terms were not disclosed
to bolster its position in the antiulcer market in which tagamet has met stiff competition smithkline said its strategy to develop an over the counter version of tagamet is bolstered by two joint ventures one with wellcome plc and one pending venture in japan
there is no absolute need for quotas at this moment because the market is well balanced and we must not lose this opportunity to renegotiate the coffee agreement he said
exporters expect foreign demand to remain weak while industry is less optimistic than it was the association said in a report
chicago board to submit yen bond futures contract
it also said it would issue 1080000 common shares in connection with its acquisition of popular bancshares corp
m
irish industrial production index up 62 pct
meinke noted that in the case of argentina the loans became non accruing for a couple of quarters but then when the banks came to an agreement with argentina all the back interest was paid
saudi rates rise as bahrain banks caught short
the best way to lower cost is to produce more said salomon brothers asia ltd analyst carole ryavec
the aggregate showed annualized growth of a provisional 75 pct in february against the fourth quarter of last year unchanged from january
new hampshire savings nhsb to buy bank
gillette has been the subject of repeated rumours since ronald perelman chairman of the revlon group inc rev made an unsuccessful bid for the company last year
hayes dana inc 1st qtr net
the union bank subsidiary of standard chartered plc said today it was raising its prime lending rate to 775 pct from 750 pct effective immediately
nato holds emergency meeting on aegean crisis
deutsche bank unit issues 75 mln stg eurobond
we have given permission for a small amount of imports to prevent a shortage during ramadan he said
dbs which paues said began operations today brings together sandviks wholly owned us subsidiary strata bit corp of houston and diamant boarts petroleum activities in europe north america the middle and far east and africa
hyponex corp hypx year net
under a 1985 agreement with the now defunct us synthetic fuels corp unocal said it would study using the technology at the oil shale plant
morgan stanley international is the other joint lead bookrunner and appears on the left in documentation
steinhardt group has 66 pct of holiday hia 
poland and south korea who are in the market for feed wheat will be offered intervention grain through special tenders traders said
the issue is guaranteed by sumitomo bank ltd and final terms will be set on april 8
payment date is april 14
japan is one of indonesias key trading partners taking half its oil exports
the bank transferred 459 mln dlrs of poor quality loans and other assets to the federal deposit insurance corp fdic during 1986
a spokesman for gardner today said the former director had no contact with emery nor did he have any other buyers lined up for purolator
business in the first three months of 1987 developed positively it added
at one time it had a fixed system which was theirs and nobody elses friend said
terms of the agreements were not disclosed
analysts were divided on the crude stocks
sri lankan bank offers 250 mln rupees t bills
preparations for a possible upturn in demand could also spur higher production next quarter merrill lynch analyst matt aizawa said
it said the offer is generous since it will give pioneer sugar shareholders a price equivalent to 29 times pioneers net earnings last financial year and a premium of 22 pct over yesterdays market price which csr said it believed already contained an element of takeover speculation
the president of the export import bank said the bank was changing its lending policies to reflect changing conditions in export financing
malaysias gold and foreign exchange reserves rise
but until then investors are widely expected to remain leery of buying bank paper according to analysts and traders
in the magazine article he suggested that if brewing profits were calculated to be in the region of 80 mln punts the asking price would not be higher than 800 mln punts
nevertheless gurria said mexico does not expect to draw on the commercial banks 12 billion dlr investment support contingency facility
american express fell 3 1 8 to 77 3 8
the us agriculture department said it had accepted a bid for an export bonus to cover a sale of durum wheat to algeria
the credit will be transferable and carry interest at 1 1 8 pct over the london interbank offered rate
lukman said heavy destocking by consumers early this year when opecs fixed price regime came into effect and a restocking now for the winter was responsible for current market strength
it said it would receive written comments on the settlements before making it final
puritan bennett pben makes acquisition
gencorp shares were delayed at the opening on the new york stock exchange because of an imbalance of orders and the nyse said the shares were indicated to open at 103 to 115
shr 73 cts vs 60 cts net 43792000 vs 36480000 rev 178 billion vs 134 billion year shr 149 dlrs vs 161 dlrs net 88974000 vs 94647000 rev 535 billion vs 404 billion note 4th qtr net includes pre tax gain of 97 mln dlrs from sale of real estate and real estate development company
midland bank plc mdbll said it has initially allocated 500 mln stg for home loans at this rate while lloyds bank plc lloyl will offer 300 mln stg
first federal savings and loan association of kalamazoo is full name of company
brazil has in the past rejected a substantial role for the imf in managing its economy arguing that an imf austerity program by promoting exports and dampening domestic consumption would lead to recession and threaten democracy
isuzu plans no interim dividend
akzo chairman aarnoud loudon told a news conference on its 1986 report that the company wanted to achieve the same level of us investments it had before it divested its fibre firm american enka in december 1985 when us investments represented 20 pct of akzos total capital
but he tried to urge business circles to prepare for the forseeable economic future a high won era south korean manufacturers who have insisted the won should not rise more than seven pct this year have said they plan to ask the government to slow down its appreciation against the dollar
under a february 21 deal bally agreed to buy the 26 mln of the 306 mln shares held by trump at 24 dlrs a share or 624 mln dlrs plus 62 mln dlrs related expenses in exchange for trump not seeking control of the company for 10 years
with this out of the way if it indeed was bought by institutions it paves the way for better value for usair stock later said janney montgomery analyst louis marckesano of twas sale of its stock
occidental oxy offers over 37 mln shares
sterling remained firm around 159 dlrs compared with its close here on friday at 15865 dlrs
a third arbitrageur noted mark iv had been involved in several takeovers previously and has proven itself to be a determined bidder
if japan for example does not reduce its barriers by mid 1988 the united states would set import quotas or tariffs to cut japanese surplus by ten per cent a year for three years
the market is expecting uk wheat futures to show a similar loss at todays opening
gaf corp said it is exploring its options in response to merrill lynch capital partners 423 billion dlr offer for borg warner corp and it has asked for all information that was supplied to merrill lynch
they said they were looking for an acquisition
they held 529 billion marks in minimum reserves on monday averaging 537 billion marks over the first 16 days of march
1986 nine mths excludes gain of 34 mln dlrs from sale of subsidiary bank 1986 and 1987 shr and avg shrs restated for one for 50 reverse stock split
us m 1 money supply rises 12 billion dlr
digital communications associates inc said the us district court issued a ruling prohibiting softklone distributing corp from selling a software product that digital claimed violates one of its copyrights
coffee futures dipped further today and closed below 1 dlr a pound for the first time in six years
mcintyres principal asset continues to be its 14 pct interest in falconbridge ltd falcf
moodys may cut bp bp standard oil srd 
the eight year eight pct domestic loan which was priced at par was originally expected by the ministry to raise 150 billion francs
shr loss 487 dlrs vs profit 16 cts net loss 50422000 vs profit 1788000 revs 1134 mln vs 1737 mln note current year figures include 333 mln dlr after tax writedown of land and improvements a 56 mln dlr increase in allowance for doubtful accounts and after tax gain of three mln dlrs on debt retirement
brazilian president jose sarney announced a move which temporarily legalises the purchase of us dollars in the parallel currency market aimed at promoting imports of foreign goods
the companies said the united states bankruptcy court for the southern district of new york has given preliminary approval for the proposal which is subject to formal approval by computers creditors and the court
the issue is guaranteed by schallplattentruhe a
triquint makes gallilum arsenide integrated circuits
the ec accounts for 60 pct of the market and exports to the community rose seven pct last year
we have to make sure it would work but lawson added that some of the considerations that had made it difficult for britain to join in the past now posed less of a problem
details are still to be worked out but investors could be offered a choice of paying immediately for shares or buying them on a part paid basis or buying convertible bonds or bonds with warrants giving a right to buy shares at a later date he said
colombia jan exports up but coffee values fall
already many banks are finding it difficult to maintain their statutory liquidity and cash reserve ratios and are resorting to heavy inter bank borrowings said one banker
a container berth and two timber and three general cargo berths will be added during the current 1986 90 five year plan jiang said
dumez investments i inc said 947 pct of westburne international industries ltds outstanding common shares have been deposited under its takeover bid
but there is no way they can trade their way out of this situation aldo roldan vice president for international services at chase econometrics said
both jeffrey and fellner said the budget clears the way for a half point fall in uk base rates tomorrow but the authorities are unlikely to sanction a larger cut immediately
asked about severance contracts for key executives in the event of a shift in control of the company reynolds asserted were developing alternatives that would not result in a change in control asked whether the companys plan would be superior to any proposal of afg and wagner and brown reynolds commented we know the company we know the values and we know the opportunities better than any outside group in response to a question about whether any units are up for sale he said only that gencorp is evaluating alternatives
it suggested options for the administration to consider but made no specific recommendations
shr four cts vs nine cts net 125465 dlrs vs 245718 dlrs revs 84 mln dlrs vs 78 mln dlrs notethe fiscal year ended march 31
he told a bank presentation the soviet union was last year hit by the fall in world oil prices which cut export revenue from oil related products and natural gas and its overseas buying power was also adversely affected by the lower dollar
as previously reported gabelli and co inc acting as investment advisor to a group including gabelli rosenthal proposed on june 25 to acquire all digiorgio common shares for a per share price of 20 dlrs in cash a subordinated note with a face value of eight dlrs 14 pct redeemable preferred stock and one common share of the post buyout company
japanese crushers buy canadian rapeseeed
the italian treasury said it had closed its latest offer of 10 year variable coupon certificates ccts early after receiving subscriptions totalling 11500 billion lire
while it said it might acquire more shares in the company it said it has no plans to seek control of it
shr losses not given net loss 7800000 vs loss 5400000 sales 1812 mln vs 1820 mln year shr losses not given net loss 178 mln vs loss 4900000 sales 5663 mln vs 5233 mln note company operating in chapter 11 bankruptcy
another factor which could affect the 0 92 debate is the approach of planting season congressional sources said
yen usurps godzilla as japans favourite horror
the options are due to expire at the end of june
aegon us holding corp a unit of aegon nv of the netherlands and life investors inc linvo said they have purchased about 451000 shares of life investors common stock for 5161 dlrs per share cash
at the same time cftc proposed leaving kcbts wheat speculative position limits unchanged
we are aware of the seriousness of the us threat against japan because it serves as a warning to us said a senior taiwanese trade official who asked not to be named
in fiscal 1986 allegheny reported earnings from continuing operations of 82 mln dlrs or 109 dlrs a fully diluted share excluding income of 597 mln dlrs from discontinued operations and an extraordinary loss of 81 mln dlrs
after the close of trading the agriculture department raised its estimate for grain imports by the soviet union by two mln tonnes from the month earlier report
sales rose as well it said to 400 mln dlrs from 287 mln dlrs in the prior first quarter
the department said these figures show a continuing improvement in the current account deficit caused mainly by an improvement in the balance on merchandise trade which has now being in surplus since november 1985
one usda official who took part in the consultations this week described them as an exchange of calm basic factual economics another usda official said there was not even an informal suggestion or hint that the soviets would live up to their pledge to buy four mln tonnes of wheat this year if they were granted more favorable terms
rises in interest rates aimed at dampening inflationary pressures also slow domestic demand
there were three grain ships loading and two ships were waiting to load at portland according to the portland merchants exchange
offer for dome may short circuit its debt talks
when delivery months and coupon payments do not match a 20 pct withholding tax is imposed on interest earned by non resident bond holders a deterrent to liffe securities managers said
shr 31 cts vs 20 cts net 3541000 vs 2071000 sales 299 mln vs 145 mln avg shrs 116 mln vs 104 mln note fourteen vs 13 week periods
weve had two very strong employment reports he also said federal reserve policy is appropriate adding it looks like theyre on track while further reductions are needed in the trade deficit sprinkel said the lower dollar is having an impact
the company did not name an underwriter for the sale
the bank will transfer the remaining 460 mln dlrs that it is entitled to transfer to fdic by september 26 1987 swearingen said
us export inspections in thous bushels soybeans 8392 wheat 33641 corn 33728
comdata had originally planned a recapitalization under which it would have repurchased up to six mln common shares at 1450 dlrs each
this lack of real yen demand through the freer euroyen market is undermining the 1984 us and japanese accord to internationalise the yen they said
vms mortgage lp said it declared a regular monthly cash distribution of nine cts a depositary unit for the month of march payable may 14 record april one
us credit market outlook spending m 1
dealers said that investors are apparently willing to accept zero coupon bonds yielding 50 to 100 basis points less than annual pay bonds because their are tax benefits for retail buyers
the agency said it rejected an assertion by air north america which currently is not operating but plans to start service to some of the cities served by usair and psa that the acquisition would lessen chances of new entry into those markets by other carriers
the new management didnt have that problem amc wasnt their baby he said
a foreign agricultural expert forecast a drop in cane acreage in 1986 87 september august of up to 10 pct in guangdong which produced 45 pct of chinas sugar in calendar 1985 and a smaller drop in fujian which produced 11 pct of chinas sugar in calendar 1985
there is a very good correlation between the us parent selling canadian subsidiaries and the us parent either being under siege or taking someone else over he said
we the banks wanted more money and they the south africans didnt want to pay the new agreement will extend for three years the standstill arrangement that has been in place since august 1985 and which was due to expire on june 30
international lpg prices mixed
natural gas production fell by nine pct as a result of lower domestic and export sales it said
the updated calculations which may take several months to complete are expected to show substantial increases in us subsidy levels for sugar because the us imposed restrictive import quotas in 1982 as aid to the domestic industry
he mentioned the use of inorganic tin in pesticides as an exciting possible new application
hot on the heels of yesterdays two canadian dollar issues was a 75 mln dlr six year bond for chrysler credit canada guaranteed by chrysler finance paying 9 1 4 pct and priced at 101 1 2 pct
genstar sale boosts belgian societe generale net
an investigation was underway he said
balladur insists on maintenance of louvre accords
the bill would allow us agricultural producers to seek government monitoring of imports if there is a reasonable chance the industry would be harmed by an import surge
thyssen sees good 1987 profit despite steel losses
itc contests use of documents as court evidence
last week bally said it was considering the sale of another non casino unit its six flags amusement park unit which analysts said could fetch about 300 mln dlrs
narrowly defined year on year m 1 growth was 1589 pct against a revised 2752 pct in november and 123 pct a year earlier
but this is the first international aid package for trc which also carries cargo for uganda zaire and burundi
he did not say where the money would come from
he warned that the us japan agreement governing trade in semiconductors was in jeopardy
the sec issued a formal order launching the private investigation on nov 12 1986 icahn said in the sec filing
macandrews controls 318 pct of the voting power
usx corps texas oil and gas corp subsidiary and consolidated natural gas co have mutually agreed not to pursue further their talks on consolidateds possible purchase of apollo gas co from texas oil
the financing is being arranged in connection with a bilateral agreement between mexico and sace earlier this year to refinance mexicos official debt to italy
bank of england lends one billion stg at 10 pct
taiwan buys 32000 tonnes of us soybeans
henry schroder wagg and co ltd said
the threatened trade war between the united states and japan is just the kind of shock that economists say could send world stock markets into a tailspin
a decline in gross margin percentage and an increase in the effective tax rate also contributed to the downturn ames said
it said it believed bulolo was not fully exploited in the past noting the literature refers to heavy gold losses in tailings during dredging from 1931 to 1967 which produced a total of 21 mln ounces
this may not occur if private sector demand for credit remains weak but demand could emerge if rates begin rising
coffee for delivery in may ended at 9928 cents a pound on the new york coffee sugar and cocoa exchange down 076 cent and the lowest price since august 1981
the company said proceeds will be used for general corporate purposes including repurchases of rjr securities
the drought has not stopped the disease but probably helped in some way because trees have not been affected in areas that are dry he said
iadb bank says it will match 1986 lending
last week the average rate of discount was 93157 pct
subscriptions close on thursday april 16 at 1500 hrs local time
gna quoted botchwey as saying that while the consequences of current reduced rainfall will be nowhere near the drought experiences of 1982 83 the government has taken steps to alleviate anticipated food production shortfalls
he said the company hopes to make the first drawings in may to take advantage of lower borrowing costs and the greater flexibility afforded by this program
scicom data scieo 1st qtr sept 30 net
australias medium term liquid fuel self sufficiency position is posing a major economic threat yet the governments response has been to load new tax burdens on the oil industry benbow said
negotiations between indonesias state oil company pertamina and foreign oil contractors on extension of the standard 30 year production sharing contract will be concluded by the end of this month a pertamina official said
the exercise price was set 1640 yen per share representing a premium of 2 1 2 pct over todays closing price of 1600 yen
weekend profittaking by jobbers and general book squaring featured the fall which was aided by steady sterling versus the dollar and lack of offtake in the physicals market
earlier new zealand sources had said french foreign trade minister michel noir had pulled out of the informal gatt talks for domestic political reasons
unilever aquired chesebrough for 32 billion dlrs in order to benefit from its well known toiletry brands and food products
miyazawa also said he told major industrial nations when he was in washington last week that present exchange rates are not necessarily good
it said each cargo should consist of 15000 tonnes
central americans were sought for spot and afloat
department officials said the 750000 tonnes of exports are for the year up to september 30 1987
the change will take effect on april 1 1987 but genuine trading companies will not be affected
britains defence minister george younger said the us was unfairly protecting its defence industry and this could lead to british firms demanding counter measures
the additional output would be related to plans now under discussion for venezuela and mexico to lend ecuador crude while it repairs a pipeline damaged by the quake
mathematical applications sets operations sale
ef hutton and co inc and ubs securities inc co managed the deal
telecom said it advised siemens it knows of no information which would make its representations and warranties untrue
hanover insurance co said its stockholders approved a two for one stock split
seasonally adjusted sterling bank lending grew 29 billion stg after a january rise of 175 billion
uk clears cons gold us purchase
its gabelli and co subsidiary is a brokerage firm
egypt rejects veg oil offers to retender
national intergrup inc said its permian partners lp subsidiary recently formed to take over the business of its permian corp unit plans to make a public offering of cumulative convertible preferred partnership units
it said closing is expected by may one subject to regulatory approvals
it was a pretty healthy report he noted that building materials rose 18 pct in february after falling 17 pct in january
rlc corp rlc 2nd qtr march 31 net
indias total oil output is around 30 mln tonnes
economic spotlight polish sanctions
the officials said such a money market action to stabilize the dollar is not only for the benefit of japan which is suffering from a sharp appreciation in its currency but also for the benefit of the united states as well
transworld airlines inc plans to refile an application monday with the department of transportation for approval to acquire usair group u the dot late today dismissed twas application to acquire usair
it ongpins stand is going to make it much more difficult for the economy to attain its growth targets monsod said
he said one of the firms with which merrill lynch is negotiating is burns fry corp of toronto which has already received an offer from security pacific corps spc 83 pct owned hoare govett ltd london based brokerage unit
cornglutenfeed pellets were indicated between unchanged and one dlr lower while citruspulp pellets were offered at slightly firmer levels compared with yesterday midday
each bond of 1000 francs nominal and six pct interest will carry three a warrants and three b warrants giving the right to subscribe to bull shares
many economists and analysts believe soybeans could be the focus of possible stepped up brazilian marketing efforts
the bundesbank could therefore act on these if it wanted a diplomatic gesture before next weeks venice summit
fhs administers and markets multiple office dental practices in the dallas metropolitan area as well as dental offices in the dallas metroplex
moodys investors service inc said it may downgrade 700 mln dlrs of debt of dana corp and its unit dana credit corp
1987 nine mths includes loss 237 mln dlrs pre tax charge to reduce the carrying value of the companys 17 land drilling rigs
lindner the cincinnati ohio investor who controls american financial corp said his talks with some of tafts managers and directors have been aimed at achieving an increased ownership position in the company
fed funds opened comfortably at 5 15 16 pct and remained at that level
the tender offer which is being made through a usair subsidiary usag acquisition corp would not be valid unless usair is left with more than half of piedmonts total outstanding common stock after the april 3 expiration
a pechiney spokesman said two working groups would prepare detailed projects over the next three months
ivory coast did not participate in the last international cocoa pact and its decision to join the new accord has sparked hopes that it will be more successful in supporting prices
india buys 20000 tonnes of rapeseed oil
it said it has no plans to seek control of the company
walt disney increases eurobond to 75 mln aust dlrs
today foreign exchange buying pushed the mark up 10 guilder cents to 112705 guilders per 100 at the fix a level that would not permit a change in the interest rate differential between west germany and the netherlands dealers said
oper shr 16 cts vs 29 cts oper net 453924 vs 726816 revs 120 mln vs 112 mln avg shrs 2695206 vs 2562160 year oper shr 50 cts vs 50 cts oper net 1365655 vs 1268847 revs 401 mln vs 331 mln avg shrs 2695206 vs 2562160 note net excludes tax credits of 571000 dlrs vs 496000 dlrs in quarter and 1347000 dlrs vs 1107000 dlrs in year
the crop since january has been hit by high temperatures and inadequate rainfall
bank of japan governor satoshi sumita said the central bank has no intention of cutting its discount rate again as a way of preventing the yens rise
the issuers might then choose to do business with lower cost banks which are not subject to us or uk banking rules
sources at the coffee marketing board in kampala reported delays in coffee export shipments last january due to congestion on the lake ferries
he estimated the amount of bags registered by the national coffee growers federation at about the same meaning a total of about 900000 bags registered and sold per month by colombia
a similar euroyen offering was reported to be in the market for a scandinavian borrower
we must see that the commitments made at punta del este on standstill and rollback are carried into practice the standstill and rollback of protection offers the global trading system a chance to hold and wind back protection during the negotiations which are expected to last up to four years he said
hovnanian enterprises hov splits stock
he urged continued negotiations among coffee producers to pave the way for a coffee export quota agreement by september
mexico recieves first 250 mln dlrs of japan loan
dunhill makes compact discs
hudsons bay said the sale of its wholesaling unit is part of a program to concentrate financial and management resources on its core business of department stores and real estate
a local government official said the police force would remain in place until tempers had cooled down
national medical nme files for debt offering
shareholders are scheduled to vote on the bond issues at an extraordinary meeting called for april 27
yaacobi said that tensions among the nations of the middle east was one of the main reasons israel had not yet been able to achieve its economic potential
exercise period for the warrants will run from april 22 1987 until march 17 1989
china has issued much of its recent overseas debt in japan and has been badly hit by the yens sharp rise
terms of the transaction were not disclosed
south korea has a five billion dlr trade deficit with japan
the spanish daily newspaper el pais said the cannon property assets sought by renta included the elstree film studios in britain and a chain of movie theaters in europe and the us
american motors corp said its directors reviewed a chrysler corp merger proposal but took no action on it
he said if uk and us banks were required to hold more primary capital against swap transactions than is the current practice the additional costs would have to be passed on to issuers
the committed part of the transaction will carry a facility fee of 75 basis points and drawings will be at a margin of 15 basis points
on the budget deficit johnson said meeting precise numerical goals was less important than a continuing commitment toward slowing the growth of federal spending
oper shr 108 dlrs vs 96 cts oper shr diluted 102 dlrs vs 89 cts oper net 161 mln vs 128 mln avg shrs 149 mln vs 134 mln avg shrs 161 mln vs 148 mln note 1987 net excludes gain 4820000 dlrs from cumulative effect of change in calculating depreciation expense
the somc a group of basically monetarist private economists said that economic growth will accelerate in 1987 in response to powerful stimulative actions by the federal reserve the group said the feds actions have been excessive
as part of the price principal neo tech received notes and preferred shares of energy holdings
we have been talking about the potential needs that india might have for both their commercial market and purchases needs as well as the possibilities of assistance lyng said
chock full onuts corp 2nd qtr jan 31 loss new york march 12 oper shr loss 38 cts vs profit 24 cts oper net loss 2243000 vs profit 1192000 revs 436 mln vs 410 mln six mths oper shr loss 35 cts vs profit 28 cts oper net loss 2090000 vs profit 1399000 revs 843 mln vs 729 mln note year ago oper excludes loss from discontinued operations of 1028000 dlrs for qtr and 1076000 dlrs for six mths
the us economic growth rate is expected to edge up to 275 pct next year from 25 pct this year and last
however any delay this year should not endanger the fifth year of the grains agreement that extends through september 1988 usda officials said
ncr ncr continues to expect earnings growth
amylum chairman disappointed by ferruzzi cpc deal
waste management inc said its wholly owned subsidiary wmx acquisition corp ended its tender offer to buy shares of chemlawn corp at 35 dlrs a share
earnings restated for two for one stock split effective nov 30 1986
the refinery has a capacity to process up to 110000 bpd of venezuelan high sulphur content heavy crude with an 80 85 pct yield of white products
the commercial rand used for current account transactions rose 05 cts to 49 us cts while the financial rand jumped nearly two cts to 33 us cts
styx missiles have a range of up to 50 miles
after viewing proposed guidelines released jointly today by the bank of england and the federal reserve board dealers said that in effect regulators are asking them to set aside reserves twice for the same risk
johnson and johnson said it is operating under a licensing agreement with tate and lyle whose collaborative research with scientists at queen elizabeth college in london led to the discovery of sucralose in 1976
on wednesday president reagan announced that he will seek 25 billion dlrs from congress to address the acid rain problem
the agl offer the third to be made for tmoc this year compares with the santos cash offer of 400 dlrs a share
the loan is for 15 years including three years of grace at the standard variable interest rate currently 792 pct the bank said
petrobras said the request for the withdrawal of the troops was made at 1100 local hours 1400 gmt but a company spokesman said he did not know if the troops had already been removed
new zealands reserve bank said it has cancelled the regular weekly treasury bill tender scheduled for tomorrow
58 japanese financial institutions are authorised to deal in london of which 29 are banks
over 550 tonnes were offered at this tuesdays auction with the supply position showing improvements
pope evans per repurchases shares
zimbabwean officials were not immediately available for comment
fed funds were trading at 6 11 16 pct compared with fridays average of 663 pct
the reserve bank said it has cancelled the regular weekly treasury bill tender scheduled for march 17
this percentage is close to the critical mass of commitments that the international monetary fund has requested as a condition for releasing new loans to the country
the notes were assigned a 20 pct coupon and priced at par to yield 150 basis points below comparable new zealand rates
texas international co tei 4th qtr loss
marathon raised crude posted prices by 50 cts a barrel effective october 16
sugar production in peru for the 1986 87 season has been revised to 593000 tonnes raw value down 10 pct from the previous forecast and 21 pct below the 1985 86 harvest the us agriculture department said in its world production and trade report
a total of four of nine indicators available for february contributed to the increase in the index
now there will certainly be no solutions without the imf he said
in this context algerian lng import would be a source of supplemental supply to us domestic production he added
malaba is now handling only 10 pct of the trade and all the coffee and oil goes through kisumu he said
currency futures are likely to move higher following the sharp rally today after president reagan announced that paul volcker would not accept a third term as federal reserve chairman and that alan greenspan was nominated as his replacement currency analysts said
the airline reported provisional net profit rose to 55 billion lire from 48 billion in 1985
cross said he proposed in a letter to harper and row that the company be merged into a company cross is forming
purchase authorizations will be announced as issued
sun sun raises crude postings 50 cts
rah said most of the purchases represented shifts from japanese firms to us firms as part of south koreas effort to reduce its seven billion dlr trade surplus with the united states
laidlaw transportation ldmfa sees better year
anitec image antc files for debt offering
tesco buys 54 pct of hillards
the commitment will represent a part of the 195 billion dlrs in new loans to argentina agreed to by 350 banks worldwide last april 24 the sources said
eis managing director stig larsson said the deal would allow eis to concentrate on voice and data communication products
but the fever continues and the number of offerings could double again in 1987 said naoki yokoyama manager of nikko securities co ltds international capital markets operation
a company spokesman said he had no idea of the cause of the fighting
however this projection was clouded by risks including the further development of the mark against the dollar
for qtr and nine mths 1987 exchange rate fluctuations had a favorable sales impact of 259 mln dlrs and 703 mln dlrs respectively
commission chairwoman martha hesse said this proposal represents the commissions sincere attempt to help the industry through this difficult period of transition to a more competitive market hesse said it is my hope that our proposed policy will encourage and guide the timely resolution of take or pay contractual disputes that have impeded the industrys transition to a more competitive environment
both issues are non callable for life and are rated aa 1 by moodys investors and aa by standard and poors
usa network today said it has acquired time incs tl one third interest in the network
he maintained world economic conditions were continuuing to improve a development that would provide a positive backdrop for debtor nations
chicago pacific cpac sells convertible debt
bps partner is galactic resources ltd of toronto
payment date is may 12
however he denied the government had dropped its opposition to the proposed tax or altered its position
standard directors met at the companys cleveland headquarters on thursday in a regularly scheduled meeting
paul temperton chief economist at merrill lynch europe ltd estimated that the government wanted to see the trade weighted index about 72 73 pct
consumer prices were set to fall by 15 pct this year the cpb said
shr 26 cts vs 36 cts net 6400000 vs 8700000 revs 253 mln vs 282 mln nine mths shr 104 dlrs vs 120 dlrs net 253 mln vs 291 mln revs 846 mln vs 918 mln note companys full name is american capital management and research inc
yugoslavia wheat free of winterkill usda
for the moment we filed a one billion dlr shelf registration for approval by the sec which we believe will be approved very shortly he said
standard and poors corp said it cut the ratings of atlantic city electric co
we want to send a message to japan to let it know how the senate feels about this matter senate democratic leader robert byrd told the senate
mccrann said that wang is a little bit ahead of where they were expected to be in their cost reductions and as a result the odds have increased that the loss for the quarter will be less than had been expected mccrann said he expects wang to report break even earnings per share or only a small loss per share for the third quarter
heublein said the phase out of the recently acquired almaden operations in san jose is expected to be completed by late summer
february retail sales jumped 41 pct more than the 25 30 pct rise the financial markets had anticipated
todays middle rate per 100 yen was 112978 against 107520 at end february and 10586 at devaluation in september
in order to make that strategy work they citicorp have to have the support of the other banks said meredith
and jauppi says that dealerships can be expected to become international
keycorp said the merger is expected to become effective as soon as possible after december 31 1987 the date utahs interstate banking law becomes operational
shr 48 cts vs four cts net 882000 vs 82000 sales 968000 vs 784000 six mths shr 53 cts vs 11 cts net 970000 vs 202000 sales 2001000 vs 1521000 note 1986 net includes a gain of 26 cts a share from the sale of a funeral home and tax credits of 20 cts
walsh at first marathon suggested however that the brazilian debt situation was so complex that it could drag on beyond one full fiscal year he said he foresaw having to lower his 1987 fiscal earnings forecasts for the banks
saudi arabia doesnt decide prices by itself but certainly desires price stability he said
they could be purchased with financial rands with interest paid in commercial rands
we have had a second agreement but with the second agreement weve had difficulties with prices melnikov said
selas corp of america said the us district court in tacoma wash issued a judgment against the company in a lawsuit filed by milgard tempering co the company said the suit filed by milgard in 1983 in connection with a contract dispute seeks 37 mln dlrs in damages as well as legal fees
last years consumption was around 700000 tonnes
fidelity television originally filed a competing application for the rko license for khj an independent station in 1965
kim said a sudden rise in the surplus would cause inflation and lead to trade friction with seouls major trading partners particularly the united states
we have absolutely no trouble producing an eight billion bushel crop on only 80 mln acres or so an analyst said
yugoslavias hard currency debt stands between 19 and 20 billion dlrs
china has signed a 130 mln dlr loan agreement with the world bank to partly finance 12 new berths with an annual capacity of 628 mln tonnes at the 20 mln tonne a year capacity tianjin port the new china news agency said
the analysts questioned whether houston based entertainment marketing founded by a former electronics retailer but whose present buinesses are primarily as wholesale distributors had the management expertise for retailing or was merely trying to drive up the price of the crazy eddie shares it already owns
striking brazil seamen threaten mass resignation
world sales for technical gases rose 51 pct to 105 billion marks and incoming orders gained 52 pct to 105 billion marks
the non callable issue is available in denominations of one mln yen and will be listed in luxembourg
it said proceeds would be used to reduce indebtedness
venezuela has no plans to seek revised debt accord
twa twa sells position in usair u 
shr profit 14 cts vs loss 55 cts net profit 864000 vs loss 21 mln revs 242 mln vs 15 mln six months shr profit seven cts vs loss 74 cts net profit 434000 vs loss 27 mln revs 425 mln vs 29 mln note1986 2nd qtr and six months includes loss of 600000 dlrs and 285000 dlrs respectively from discontinued operations and exclude operations of action drug co inc acquired by companys 81 pct owned subsidiary technodyne in august 1986
supporters of the bill said passage of the bill was only a first step toward a greater congressional involvement in formulating policy
if prices went much above that he would expect some over production above opecs official 158 mln bpd output ceiling which would tend to bring prices back down
reliance electric co said its reliance industrial co unit will redeem on april 10 all outstanding 7 1 4 pct debentures due 1996 and 9 5 8 pct debentures due 1994
shr 11 cts vs three cts net 313000 vs 80000 revs 125 mln vs 113 mln
levon resources lvnvf gold assays improved
yesterdays intervention was large in terms of the countries involved and the amounts expended he said
it said the bodies were made on presses used for bertones steel structured sports cars
he said the dollar would not continue to fall because of underlying market concern about the rapid rise of the yen
he added that without these external difficulties west germanys economy would have grown by 35 pct last year instead of the 25 pct reported
colonial had assets at year end of about 150 mln dlrs
the net inflow of foreign investment into australia jumped to 73 billion dlrs in the fourth quarter of 1986 from 432 billion in the third quarter and 455 billion a year earlier the statistics bureau said
japan to release gnp figures later today
1986 results include 51 mln dlr gain from termination of defined benefit pension plan
the report said that by the end of the century the united states may be relying on foreign sources for 50 pct of its oil consumption posing a serious economic and national security threat
takeover speculation continues to fuel heavy trading in ual inc traders said
economists polled by said that m 1 would rise anywhere from 700 mln dlrs to three billion dlrs
an unspecified number of people had fallen into the water it said quoting the pilot organisation in this south western dutch port city near the belgian border
he did not elaborate
the company said the new posting for edmonton swann hills will be 2560 dlrs a barrel
it also said t bills and three year t note auctions totaled 611 billion pesos in the first quarter of 1987
but a japanese finance ministry official said that despite us frustration over higher interest rates abroad this does not represent its readiness to scrap the basic framework of the louvre accord in frankfurt f
the jeep line is a worthwhile extension for chryslers product line but the presumed price seems hard to justify
but within a year the plan has all but collapsed
the union said about 1000 mineworkers at a new coal facility owned by anglo american corp of south africa ltd anglj also returned to their jobs on tuesday
the currency jumped to 06858 63 us dlrs and traded as high as 06875 before retreating to around 06864 69
continental associates a group of four shareholders who hold about 502 pct of of continental materials corp stock said it will not pursue a tender offer for all of its shares
japanese net purchases of foreign stocks jumped to a near record 152 billion dlrs in february from 113 mln in january the finance ministry said
marcade group inc said it has agreed in principle to acquire a prominent privately held maker of ladies sports wear for an cash shares and options to purchase marcade common valued at about 20 mln dlrs
louisville gas and electric co lou dividend
hanson han to sell bonds delivery service
southwest airlines co luv unit adds service
average lives are 236 to 2328 years
all deliverable shapes of aluminium under the high grade primary aluminium contract minimum 997 pct purity will also be deliverable against the standard primary aluminium contract min 995 pct the lme said
enserch corp said that it has called for redemption on may four all its outstanding 16 3 8 pct sinking fund debentures due 2007 pursuant to the optional redemption provision of the indenture at 111981 pct of par
however much of that export demand seems to have been met with most foreign meal users now waiting for the expected surge in shipments of new crop south american soymeal over the next few months
this weeks us economic data are expected to have little impact
analysts estimate the tax relief will save larger oil companies about 150 billion dlrs by the end of 1988
dixons group plc said only about 852000 shares of cyclops corp common stock or 20 pct on a fully diluted basis were tendered and not withdrawn under its bid for all shares that expired yesterday but the companmy has still decided to accept all shares validly tendered
sudan reached a framework rescheduling agreement in 1984 with western government creditors of the paris club
oppenheimer the brokerage and investment subsidiary of oppenheimer group inc told the securities and exchange commission it has acquired 243400 shares of cyclops corp or 60 pct of the total outstanding
patrick petroleum co ppc year loss
qtly div 45 cts vs 45 cts previously pay may 1 record march 31
non callable for two years the debt is rated b 3 by moodys and ccc plus by standard and poors
amour inc said it has entered into a letter of intent to acquire bard international associates inc for 70 mln common shares in a transaction that would give former bard shareholders control of the combined company
we were quite satisfied with the agreement in paris otherwise we would not have been a party too it he said
asian cocoa producers are expanding output despite depressed world prices and they dismiss suggestions in the london market that their cocoa is inferior
the additional output would be related to plans now under discussion for venezuela and mexico to lend ecuador crude while it repairs a pipeline damaged by the quake
today it reported a loss for the first quarter ended in january of 368188 dlrs compared with a 149334 dlr profit a year before
habbel blamed the profit decline on disruptions to output caused by the introduction of the new audi 80 model on currency factors and on negative publicity in the us about alleged sudden acceleration of some of its audi 5000 models
a consumer delegate said producers and consumers should be able to compromise on the non member cocoa question
these forecasts develop a strong counterpoint to the fears that natural gas suplies would be tight and prices significantly higher given a sharp decline in drilling last year
our ability to restructure along these lines is possible primarily because of the financial stability and the strong operating results achieved by management in recent years gluck said
the issue is a five year bullet maturing march 26 1992 and carries a coupon of 7 1 2 pct and is priced at 101 3 4
proceeds will be used for working capital evans and sutherland said
the key three months interbank sterling rate gained 1 16 point at 10 9 7 8 pct
domtar stock was previously split on a two for one basis in june 1985
oper shr 504 cts vs 487 cts oper net 688000 vs 665000 revs 123 mln vs 107 mln note oper excludes tax credits of 559000 vs 537000
the meeting aims to set rules for the operation of the pacts buffer stock which producers hope will boost a market hit by successive world cocoa surpluses
shr profit nil vs profit 38 cts net profit 19000 vs profit 1239000 revs 317 mln vs 312 mln 12 mths shr profit 52 cts vs loss three cts net profit 2173000 vs loss 119000 revs 1035 mln vs 986 mln
the state must set an example by keeping wage increases below the inflation rate he said
bayer world group 1986 pre tax profit 330 billion marks 315 billion official
rice long grain and medium short grain rice average price for 1985 86 estimates and 1986 87 projections are market prices and exclude cash retained under the marketing loan since april 1986
john lafalce d ny who said it would help ease the third world debt crisis
there is a very strong argument in japan that since the united states is imposing tariffs unilaterally why should we bother doing anything he said
thera care inc to acquire cushing
c and r clothiers inc jan 31 year net
a half point cut in base lending rates was announced by the big four clearing banks today after the bank of england finally endorsed such a move following weeks of downward pressure dealers said
reiners also emphasized that the trend in consumer spending is weakening
the economists comments were echoed by treasurer paul keating in a statement issued in canberra
carter hawley hale stores inc chh 4th qtr loss
oshmans oshm cites weak regional economies
alza also said it expects the debentures will be listed on the luxembourg stock exchange
bullet loans have only been permitted in the dutch market since january 1986 as part of a financial liberalization plan
bundesbank allocates 65 billion marks in tender
chemical bank the main bank subsidiary of chemical new york corp said it is raising its prime lending rate to 7 3 4 pct from 7 1 2 pct effective immediately
on february 20 brazil said it would suspend interest payments on about 68 billion dlrs owed to foreign commercial banks
morgan said although profits in the electronics sector improved to 10 mln stg from 100000 stg previously results were nonetheless disappointing
excessive issue of participation certificates which do not carry voting rights would also be contrary to the principle of greater democracy in the new share law before parliament
the units have been operating under protection of chapter 11 of the us bankruptcy code since last november
hongkong bank says close to deal on property sale
uk money market deficit removed
new york business loans fall 131 billion dlrs
steel production rose 13 pct to 1696000 short tons in the week ended march 28 from 1675000 short tons the american iron and steel institute reported production so far this year was 18810000 tons adjusted off 146 pct from 22016000 tons produced by the nations mills a year ago
the investor group seeking to acquire gencorp inc said it agreed to cancel a court hearing after gencorp withdrew three proposals that if approved would have made it more costly and difficult to acquire the akron ohio based company
sumita says little room for bank of japan to further ease credit policy
pursuant to the transaction harvey seslowsky and william hodes resigned from us videos board and were replaced by four members of first national
shr nil vs same final and yr div nil vs same pre tax pre minorities loss 353 mln dlrs vs profit 1740 mln
it said neither has declared the loans due
brennan said brazil is currently exporting products like paper machinery and ships to canada
we studied the question and asked the banks in which field and what area they can help in the project valentchits said
the issue is guaranteed by gillette co and is available in denominations of 1000 and 5000 stg
shr profit 80 cts vs loss 160 dlrs net profit 1673960 vs loss 3292663 note 1986 net includes gain on bond portfolio of 1160000 dlrs and 5600000 dlr provision for losses on discontinued liability and multi peril lines of reinsurance
the performance of the imf over the years has not been convenient to our needs
first interstate reported to the securities and exchange commission last week that it has about 339 mln dlrs in medium to long term loans to brazil
it said the rise was mainly due to staff costs associated with continued growth in consumer capital markets and investment banking activities
interest in the currency futures market has shifted to the soaring british pound and the potentially explosive canadian dollar and away from the dull continental and japanese currencies analysts said
barbados is making its annual trip to the international capital markets a bit earlier this year and has mandated barclays bank plc to arrange a 25 mln stg revolving credit barclays said
without such a basic agreement of multilateral surveillance baker would never have criticized the west german policy so openly the ministry official said
were not seeking a universal solution he said
the restatement results from a tentative agreement reached in february with pertamina the indonesian state owned petroleum enterprise and japanese purchasers of lng
jamaica will make new drawing under imf program
noel industries inc nol 1st qtr jan 31 loss
the bank of england said it provided assistance worth 350 mln stg during the afternoon session which takes total help so far today to 446 mln stg against a shortage estimated at around 550 mln stg
each have a 20 pct stake in the idc consortium while pacific telesis and merrill lynch and co
the borrowing limit of the hong kong exchange fund set up to regulate the value of the hong kong dollar has been raised to 50 billion hk dlrs from 30 billion by the legislature an official statement said
chemical will show us how to take advantage of enhancing our consumer products he said referring to expansion of such existing products as credit cards and investment banking
the average exchange rate was 1623 shillings per us dlr last year a fall of only 12 pct from 16432 in 1985
shr 350p vs 348p div final div 92p vs 82p pretax profit 840 mln stg vs 793 mln net after tax 662 mln vs 607 mln turnover 12904 mln vs 12052 mln trading profit 1057 mln stg vs 1013 mln consisting uk 479 mln vs 453 europe 78 mln vs 34 mln north america 347 mln vs 372 mln australasia 40 mln vs 23 mln rest of world 113 mln vs 131 mln
the fdb rejected this request
during the whole of the season from july 1985 to june 1986 dutch soymeal usage fell 12 pct to 19 mln tonnes from 21 mln the previous season while sunmeal usage rose 25 pct to 408000 tonnes from 325000
despite rising petroleum prices and falling coffee prices kenyas economy is still expected to improve in 1987 the planning minister said
the company did not elaborate
the letter said the food department would be able to release wheat and rice from the buffer stock to meet the immediate cereal requirements provided such stocks are replaced subsequently the meteorological department said the country was experiencing its worst drought since 1951 and the four month dry spell prevailing in most of the areas would only break when the monsoon rains fell in late may
uk producer price data for march were roughly as expected after taking into account technical factors which affected the year on year outcome economic analysts said
century communications corp said it had entered into an agreement to acquire all the assets of community cable vision of puerto rico associates and its associated companies for about 12 mln dlrs
in 1986 the company reported operating income of 551 dlrs a share up from 484 dlrs a share a year earlier
swedish mining and metals group boliden ab bldsst said the takeover of the us allis chalmers corps aho mining machinery division made it the worlds leading maker of such equipment
the february figure is likely to be revised upwards by just under one percentage point next month when the march figure is released a ministry statement said
it said a portion of the proceeds from the offerings together with the proceeds form the new bank loan wll be used to repay the 395 mln dlr bridge loan merrill lynch and co inc mer provided for itel to buy anixter
if calculated on the last 12 months the differential came to 39 pct the statement said adding the tendency is therefore one of a lessening of the inflation gap with our main trading partner
the deficiency payment rates for both commodities are the maximum permitted by law the department said
struthers wells corp said it expects to report a loss without tax benefit of about 16 mln dlrs for the fiscal year ended november 30 1986 versus a profit of 295000 dlrs in fiscal 1985
gunnar gold inc said it and mill city gold inc signed an option and joint venture agreement with tyranex gold inc on the tyranite gold property in ontario
one official even called the markets recent actions irrational
period ended may 31 shr 41 cts vs 35 cts net 154 mln vs 119 mln revs 2344 mln vs 966 mln avg shrs 380 mln vs 344 mln
oppenheimer and co analyst robert mcadoo raised his 1987 earnings estimate for nwa inc parent of northwest airlines following a strong quarterly report by the company yesterday according to oppenheimer market strategist michael metz
the new pact is more responsive to market trends than its predecessor the sources said and earlier provisions allowing the buffer stock to borrow from banks have been eliminated
mmtcs recent global tenders now include a clause that preference will be given to parties who accept payment in kind for goods and services sold to india a trade official said adding that the policy remains flexible
if there had been no intervention you would have called that a sign of weakness although intervention could be a cause of inflation lawson said the world does not appear to be in an inflationary mode but one has to be vigilant he said yesterdays g 7 statement which affirmed that current levels of exchange rates were appropriate had been carefully worded we know what we mean and we all mean the same thing he said
the world bank said it approved a 90 mln dlr loan to yugoslavias third largest bank to support a project promoting energy conservation and substituting lower cost energy sources for present sources
the bank said that the issue was no longer operating as a tap having been supplied at a price of 94 stg pct this morning
slifer said import prices may rise further as manufacturers contracts put in place before the dollar dropped to current levels expire and new contracts are made that reflect a weaker dollar
during the morning council session the ivory coast delegation gave an open minded statement that it is willing to work out a buffer stock rules solution which could come into effect as soon as possible baron said
however he cautioned that care must be taken to keep growth restrained because if it accelerated too fast imports would increase and worsen the balance of payments
emerson radio eme sells debt privately
periods ended february 28 shr 89 cts vs 87 cts net 1195 mln vs 1146 mln revs 8723 mln vs 9174 mln avg shrs 1349 mln vs 1317 mln 12 mths shr 287 dlrs vs 332 dlrs net 3834 mln vs 4135 mln revs 45 billion vs 44 billion avg shrs 1337 mln vs 1247 mln notes year ago results restated to reflect application of new accounting for disallowances full name is public service enterprise group inc
the trader said transporting stocks from these areas to consumers in east and south china was a problem particularly as coal had priority
shr loss 30 cts vs loss 31 cts net loss 10 mln vs loss 10 mln revs 23 mln vs 17 mln year shr profit 0 10 cts vs loss 45 cts net profit 508000 vs loss 15 mln revs 58 mln vs 67 mln note1986 year and qtr net includes loss of 37000 dlrs and 538000 dlrs respectively from from discontinued operations
reed international plc reedl denied rumours on the uk stock market that it was the target of a takeover bid and said it had received no approach
the bentsen proposal supported by 24 other senators would would require the president to issue annual three year oil import forecasts
japan is a major importer of gold buying a yearly average just under 200 tonnes gold dealers said
contel corps telecommunications equipment unit is the most likely candidate for sale by the atlanta based telecommunications company wall street analysts said
hp smith analyst at smith barney harris upham and co said for a 40 billion dlr revenue company no one order will have much of an effect on the stock russell leavitt analyst at salomon brothers inc said the order will help to maintain a good level of production and profitability in the aircraft engine business for ge
taft tfb had not completed tv station sale
garfinckels net sales for fiscal 1986 were 1119 mln dlrs the company said
since the beginning of march the coffee market has been strictly regulated by the state food marketing monopoly enapal
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
full details of the compromise package are not yet known
funaro says creditors willing to help brazil
to match the difference between the ec price and the world market price the extra costs might be as much as 20 ecus per tonne it says
oper shr loss 48 cts vs profit 50 cts oper net loss 113 mln vs profit 181 mln revs 2628 mln vs 3997 mln note 1986 net excludes tax gain of 11 mln dlrs or three cts shr vs yr ago gain of 56 mln dlrs or 17 cts shr
per share information not available
the soviets argue that they are the best customer of the us and that they are entitled to the best price he said
ncr corp ncr 1st qtr net
analysts and oil industry sources said the problem opec faces is excess oil supply in world oil markets
the us has indicated it is open to dialogue on quotas but that brazil must be flexible rather than refuse to lower its export share as it did in the last negotiations delegates said
the bank said in a statement that from april 2 banks bidding for foreign exchange would have to pay at the rate they offered and not as presently at the rate of the lowest successful bid made at the auction
a company spokesman told this will be the first time in more than 40 years taiwan has not exported sugar
banner bnr completes rexnord share purchase
argentine officials said they might halt debt payments last month if creditor banks did not agree to a new 215 billion dlr loan
michigan general corp said holders of 75 pct of its outstanding 10 3 4 pct senior subordinated debentures due december 1 1998 have indicated their intention to tender under the companys current exchange offer and to reach an agreement with the company
taft narragansett requsted a response to its proposal by march 12
combustion csp completes accuray acra buy
the rating agency noted however that merrills franchise retains significant value and gives the firm strong proprietary securities placement power
japan has extended a 24 billion yen loan to bangladesh finance ministry officials said
he said that a sizable increase in first quarter gnp stemming from an increase in inventories will be a drag on second quarter growth
fukukawa said the united states had regrettably not listened to japans explanation of its efforts to live up the pact and said washington had not given any detailed explanation of why it planned to impose the tariffs
alexander ivanov head of the gulf desk at the soviet foreign ministry told al rai al aam newspaper moscow will answer back with force and violence if iran attempts to attack any soviet ship or tanker in the gulf a soviet tanker hit a mine in the gulf last month
the figure compared with a surpluses of 117 billion dlrs in 1985 101 billion in 1984 and 293 mln in 1983
it is expected to rise to 468 billion us dlrs from 379 billion a year earlier and 341 billion during the first quarter
we do not believe the dollar will revalue the economic fundamentals are for it to slip away if anything he said
return on permanent capital is estimated at between 15 and 16 pct versus an average of 184 pct
the purchase valued at 148 mln dlrs follows the recent acquisition of londons johnson matthey commodities limited deak said
the process is such that you cannot expect tangible progress in a short period of time one banker said
husky previously announced shareholders will have the option to receive 1180 canadian dlrs cash for each common or 6726 dlrs cash and one common share of oil term investment ltd which will be controlled by nova through oil term holdings and own an insterest in husky
according to consumer spokesman peter baron of west germany consumers werent perfectly happy with the buffer stock rules
the french corn growers will clearly charge ahead now and just change corn to corn gluten feed in their complaint hall told 
following mondays record fall in wall street stock prices money market rates fell sharply on tuesday as investors ploughed proceeds into short term instruments and the federal reserve said it is prepared to provide liquidity to support the economy and the financial system
he said japan raised its pledge to 88 billion yen from 80 billion last year
analysts said the speculation also focused on american express selling 20 pct of the profitable brokerage firm to the public
the plan to curb exports agreed in january is aimed at cutting the world surplus to 50000 tonnes from 70000 now and boosting prices to about 19 ringgit a kilo from just over 16
excludes extraordinary charge of 2503000 for current qtr and 4744000 for year
the official speaking from strike headquarters in rio de janeiro said up to 30000 of brazils 40000 seamen were still on strike
qtr ended feb 28 shr 103 dlrs vs 134 dlrs net 4385000 vs 5792000 revs 4744 mln vs 3814 mln six mths shr 246 dlrs vs 271 dlrs net 105 mln vs 117 mln revs 9060 mln vs 7576 mln
gandalf gandf acquires stake in data voice
japanese crushers starting to buy us soybeans for april shipment have recently made purchases of some 48000 tonnes trade sources said
industrial equity tells sec it will send calmat proposal for business combination
the target is to raise exports to 20 pct of gross domestic product over the next four years compared to 15 pct now he said
in the final quarter gdp in 1981 prices and at annualized rates rose a slight 02 pct after expanding 08 pct in the third quarter
the talks were the first high level international review of the monetary situation since the accord last month reached by the us west germany france britain japan and canada to stabilise world currency markets at around present levels following the 40 pct slide in the dollar since mid 1985
he criticized the attitude of the outgoing irish government in recent ems realignments the punt was devalued by eight pct last august
heritage communications inc said it expects to hold a special shareholder meeting in may to consider its proposed acquisition by an investor group including members of senior management and tele communications inc tele the company said it is seeking to obtain all regulatory approvals needed to complete the transaction before or shortly after the special meeting
anglo american aivjj year to dec 31
it further stated that the tender offer expires on july eight unless extended
mcfadden did say however that as a matter of procedure it is possible the exchange can lower allowable position limits or increase margin requirements for companies that are in financial trouble
attractive interest rates offered by domestic banks to compete for time deposits of more than 600 mln yen has underpinned short term rates they said
this compares with actual 1985 86 output of 570000
tmoc resources ltd told shareholders not to accept santos ltds stoss 400 dlr a share takeover bid pending advice from macquarie hill samuel corporate services its corporate advisor
paul cain a vice president at shearson lehman brothers said the elimination of price limits will cut back on panic buying or selling and contribute to more orderly markets
texaco inc said it raised the contract price it will pay for most grades of crude oil by 50 cts a barrel effective october 16
glynwed buys gallaher units for around 14 mln stg
federal reserve board vice chairman manuel johnson said the inflationary expectations in the financial markets have eased since the feds last half point increase in its discount rate to 60 pct
in addition santa cruz and sierrita have agreed to vote their shares in accordance with instructions from the foothill board in connection with certain business combinations and certain anti takeover matters foothill said
ag edwards inc age 1st qtr may 31 net
remaining proceeds from the stock offering and from a separate offering of 50 mln dlrs of 20 year convertible subordinated debt would be used to repay about 75 mln dlrs of short term senior bank debt of the health chain unit a bally spokesperson said
shr 33p vs 38p net 97 mln vs 111 mln revs 171 billion vs 176 billion note figures in sterling
ryans family steak houses inc said its board declared a three for one stock split payable may 20 to holders of record may 6
the central bank fixed its dinar exchange rate steady at 027933 67 to the dollar against yesterdays 027939 73
some early selling pressure softened the dollars undertone
azure ventures to buy advertising unit
wickes shareholders will also have the option of taking one cityquest share or 205p in loan notes for every 205p of the cash consideration
assets of us money funds rose in week
kg saur sells assets to reed international
they said the real price of oil would stay at 15 dlrs a barrel for several years and i think they beat a hasty retreat from that point of view margoshes said
us treasury selling 25 billion dlrs of notes
liebert corp said its shareholders approved the merger of a wholly owned subsidiary of emerson electric co emr under the terms of the merger each liebert shareholder will receive 3322 shares of emerson stock for each liebert share
the company which has two days to repay the note said there is no assurance it will be able to find the funds needed to meet the payment
us house panel extends eep urges ussr offer
last december daiwa and nomura were named primary dealers by the federal reserve along with lf rothschild unterberg towbin inc and security pacific national bank
agip petroli spa said in a statement that the remaining 50 pct of the us firm is owned by steuart investment co a holding company which also has interests transportation hotels and insurance
this gave japan a 16 billion dlr trade surplus
buitoni said in a statement that vismara had 1986 sales of 181 billion lire and net profit of 11 billion lire employs 950 people and has four subsidaries
these options boost production while avoiding the huge costs associated with proposals like an oil import fee herrington told a house energy subcommittee hearing
oil prices would skyrocket for a time if conflict in the gulf closed the strait of hormuz but oil supplies could be adjusted to take care of world demand indonesian energy minister subroto said
as iran knows very well what america is bringing into the gulf could do serious damage said one western diplomat
gpu said its operating subsidiaries will seek to recover the costs of decommissioning tmi 2 in future rate proceedings
belgiums current account surplus measured on a cash basis widened sharply to 1349 billion francs last year from 175 billion in 1985 the finance ministry said
healthmate inc says auditors intend to qualify its financial statements
finance secretary jaime ongpin said philippine investment notes pins to be offered to commercial bank creditors as part of the countrys 132 billion dlr debt rescheduling would revive the baker plan
bankers generally said ncb riyad bank and the joint ventures samba saudi french and arab national bank rank as the strongest earners
the net loss per share was 24 cts compared to a net loss of 99 cts per share last year
the ministry will soon release its supply demand guidelines for the second quarter and suggested production volumes are likely to be lower than that for the first quarter he said
lutterbach said it is possible second quarter results will be restated though final net income for the year will remain in the estimated range
shr loss 11 cts vs loss 48 cts net loss 254000 vs loss 784000 note includes realized gains of one mln dlrs versus 840000 dlrs
he said those countries which had confirmed their presence were brazil mexico guatemala el salvador costa rica and panama
ca bolsters hand against ibm
ph glatfelter said its board increased its quarterly dividend on its common stock to 14 cts per share from 125 cts per share the prior quarter
kyosuke yoshida managing director of japan bond research institute jbri said agencies should be more actively used to respond better to growing overseas investor interest takeshi watanabe president of japan credit rating agency ltd jcra said our advantages are that we have a deeper understanding of business practices in japan other asian nations and japanese investor behaviour and are also more alert and quick to react to domestic news jbri with 12 years experience is japans largest agency
he said peruvian producers were hoping for an increase this year in the 13 pct export quota about 913000 quintales assigned to them by the international coffee organisation ico
omar said government revenue in 1987 88 would total 39 billion pounds
the banks are anxious to know the situation on debt payments but we can only tell them we are waiting for a government response to our proposals he said
importers and some key exporting countries have shunned a generalised approach to commodity price stabilisation and prefer to assess each commodity case by case the survey showed
the sources said this pact was to have been followed by bilateral agreements but fell through when khartoum became unable to service debts in 1985
canada leaders fail to set pact on free trade
lai sun gained 50 cents to 7050 dlrs
a 100 mln dlr offering of first priority secured equipment certificates due 1992 was given a 10 pct coupon and par pricing
moodys said the action reflected increased leverage and reduced interest resulting from lower earnings
it said a combined shareholders meeting will soon be held to vote on the acquisition
daily average reserve holdings rose slightly to 547 billion marks from 545 billion
sterling traded today around 15750 dlrs down from 15870 dlrs last night
s p may downgrade afg afg and gencorp gy 
the government is also considering letting individuals make payments on their student loans with credit cards officials told reporters
to promote trade saudi arabia is inviting japanese industries to do business there he said
1986 year net includes gain one mln dlrs from sale of building and gain 3200000 dlrs from termination of pension plan
a year before it lost 409100 dlrs after a 106300 dlr extraordinary gain
funaro explained that brazils suggestion is part of its demands before the need to renew the mechanisms of loans in the world he said that the current negotiating process is very complex and complicated mentioning cases of countries which had to wait some 10 months before getting a reply from creditors
uk one billion stg bond tranche exhausted
the louisiana weekly usda state crop report said there were 24 days suitable for fieldwork
the direct effect of the lower rating on our borrowing capability is unlikely to be very great
the fonds special de grands travaux fsgt is issuing a 17 billion franc 910 pct 12 year domestic bond at 9930 pct lead manager societe generale said
an ordinary ship is compartmentalised and you have more stability he said
the pre tax figure fell to 788 mln crowns from 872 mln in 1985 on sales increased from 41 billion to 42 billion giving net earnings of 521 mln crowns against 604 mln in 1985
orange julius international inc said it entered into a definitive agreement to sell orange julius of america and orange julius canada limited to hc holdings inc owned by branford castle inc a merchant banker members of its management and certain of its shareholders
shr loss 12 cts vs profit 37 cts net loss 350738 vs profit 1095991 revs 188 mln vs 158 mln year shr profit 28 cts vs profit 129 dlrs net profit 831901 vs profit 3000716 revs 606 mln vs 482 mln avg shrs 2996903 vs 2756596 note per share date adjusted to reflect 10 pct stock dividend of march 1986
a ciba geigy spokesman declined to say how much the venture would cost
for 46 of those products the us had had sought free access to the south korean market
moodys said the changes reflect the reduced levels of debt protection resulting from gelcos restructuring efforts
shell canada said it raised crude prices by 47 canadian cts a barrel today
the company forecasting a 15 pct drop in 1987 operating earnings over last year said late today that it is reviewing all operations in an effort aimed at maximizing long term stockholder value analysts also said contels federal systems division which has been hit with several executive defections may also be put on the block
thad cochran r miss said
merrill lynch said its insurance revenues made the biggest gains in the first quarter rising to 2423 mln dlrs in the this first quarter from 683 mln dlrs in last years first quarter
drilling will begin in september
india steps up countertrade deals
portuguese grain agency ban opposed by minister
this weeks bank of england resistance to strong market pressure for lower interest rates succeeded in holding bank base rates at 11 pct
any further decline in raw sugar prices is likely to attract buying from the soviet union and china woodhouse drake and carey said in their latest weekly market report
the us remains open to a negotiating meeting but only if some new flexibility is apparent from major countries the official said
as the storm moves north across the central plains winter storm watches were issued over south central south dakota late tonight and wednesday over west central minnesota
he told reporters at an energy conference in jakarta that opec had decided to maintain its price level of 18 dlrs
each unit will comprise an interest in cdc flow through limited partnership and common shares of canterra which will be exchanged for cdc common shares
paperboard industries corp said it planned to make an unconditional 21 dlr a share cash offer for belkin inc s 76 mln common and 23 mln non voting shares
brazil will be an aggressive seller under any scenario but as yet there is no sign of unusually heavy brazilian sales the dealer said
he said the entire 178500 bpd refinery has been shut since the accident which killed one person and damaged the sites hydrocracker
the agency said it uses the d grade for securities issued by companies in chapter 11 reorganization
the association of tin producing countries atpc has made efforts since the collapse of the ita to achieve higher world prices by attempting to bring all major producers under an export control umbrella but to date brazil and china two major producers remain unaffected by the atpc argument and apparently are continuing to offer material at discounts to consumers in main european trading centres dealers said
this is not a crash scenario but the dollars steeper angle of descent increases the risk of ending with a fireball rather than a three point landing the eiu said
the newspaper quoted pentagon officials as saying the navy would keep the aircraft carrier kitty hawk on station in the arabian sea and the rest of the indian ocean until may three months longer than planned
the non callable bonds are guaranteed by fuji bank ltd and final terms will be set on april 6
shr loss 26 cts vs loss 12 cts net loss 289649 vs loss 138372 revs 5944286 vs 5902074
without these the net loss would have been 145 billion francs it said
the wheat four is for shipment march may and the bonus awarded was 11905 dlrs per tonnes and will be paid in the form of commodities from the ccc inventory
however the final outcome of the negotiations cannot be predicted at this time it said
becor western inc said it is talking with a possible fourth bidder for the company
canadian money supply m 1 falls 116 billion dlrs in week bank of canada said
spains minas de almaden y arrayanes sa has agreed with algerian producer enof to establish a minimum price of 300 dlrs per flask for spot mercury sales almaden spokesman jesus gallego said
opponents of the bill said the proposal discriminated against imports and would damage the philippines malaysia and indonesia
the iea said that assuming crude oil and product prices stay close to current levels some destocking by end users can be expected
meridian bancorp inc mrdn sets regular payout
in 1984 and 1985 brazils annual trade surpluses had been sufficient to cover the 12 billion dlrs needed to service its 109 billion dlr foreign debt
the italian treasury said it would offer an undetermined amount of 10 year variable coupon certificates ccts at a rate unchanged on that of the preceding offer in late february
the group reported 1986 net profit of 1909 mln swiss francs compared with 1504 mln in 1985 and raised its dividend per bearer share to 160 francs from 155 francs
they include 30000 tonnes for china 31000 for the soviet union 25000 for turkey and 35000 for italy
the australian sides investment was limited to about 22 mln dlrs but aluvic would have the right to appoint key managers he said
this is a clear indication that we are entering a difficult phase as regards our external debts and it is imperative that we raise the rate of domestic savings and rely less on foreign sources to finance our development he said
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 718 mln dlrs to 6487 billion in the week ended march 4 the federal reserve bank of new york said
the maximum rebate at yesterdays tender was 46864 ecus per 100 kilos up from 45678 ecus the previous week
johnson geneva said pan am divested owership in the project as part of a corporate restructuring plan but will continue to provide engineering services on a contract basis
gould inc said it sold its french battery unit cie francaise delectro chimie to a group of investors including the units employees and gnb inc of minnesota
canadas airline industry shaken up by a recent merger that creates a powerful new competitor for government owned air canada has begun its first serious drive for profitability in 50 years industry analysts said
babcock expects further progress in 1987
fiat spa fiatmi is considering issuing a eurobond of up to 384 mln dlrs convertible or with warrants attached for exercise into its shares still with banks after the placement of the libyan stake last autumn the financial daily handelsblatt reported quoting bourse sources
cpc cpc to sell european business
established by congress in 1934 the sec traces its origins to the great stock market crash of 1929 which was attributed in large part to widespread trading on credit and attempted market manipulations by large investment firms
proxmire said he favored the approach used in britain towards two tiered tender offers that insures that all shareholders recieve equal treatment
but broad money will continue to be taken into account in assessing monetary conditions as of course will the exchange rate the chancellor told parliament
but he said the deterrence policy had failed and the level of violence and threats to shipping had increased as a result of us intervention and irans response
he said the rest of the 178500 bpd refinery including the 19000 bpd catalytic cracker was undamaged
lord abbett and co mutual fund dividends
brokers said several other fixtures were also thought to be connected with soviet grain including a 69000 tonner from taranto for five to seven months at 6500 dlrs daily
this sector suffered from slack demand from abroad and from low domestic consumption
non callable for five years todays issue is rated a 1 by moodys and aa minus by s and p
the bank of england said it revised up its estimate of the deficit in the system today to 13 billion stg from 11 billion
comdata cdn in merger agreement
the complaint said vaskevitch leaked information about 12 companies that were involved in a merger or aquisition which resulted in more than four mln dlrs in profit for himself and others involved in the scheme
it said the recommendations also suggested that encouragement be given for the manufacture of value added products from coconut fibre and a market development programme be launched for traditional and value added products
domestic demand pressure coupled with the deterioration in italian competitiveness is likely to stimulate imports and adversely affect exports in 1987 and 1988
the company said it would sell all of its businesses other than the american air filter business make a public financing of more than 100 mln dlrs and pay part of the currently outstanding debt with the proceeds
period ended feb 28 shr loss 34 cts vs loss 58 cts net loss 1252000 vs 2145000 revs 4539000 vs 3504000 six mths shr loss 66 cts vs loss 86 cts net loss 2428000 vs loss 3163000 revs 9033000 vs 8192000
the company also said that effective today it will be trading on the nasdaq system under the symbol vlans
the rate compares with 120 pct at the end of march 1986
pesch or anybody else with respect to our holdings in republic health a mcdonnell douglas spokesman told
cotton supply demand by country usda
trump said he would not tender for the 57 mln shares of publicly held class a stock
shad said he opposes proposals to require those attempting takeovers to file a statement on the impact the takeover would have on the communities involved
shr loss eight cts vs profit nil net loss 488759 vs profit 14289 sales 6067676 vs 5047383
contrary to a projected low yield on tankoku short term interest rates have been resisting a fall on growing demand for funds ahead of the march 31 financial year end they said
he noted the firm has suggested financial services as a key sector and he said it may add some insurance firms to its existing business
should citicorp actually place the brazilian loans in a non performing category at the end of this quarter this action would serve to alleviate the urgency associated with the debt negotiations he argues
there is a consensus which we have to push further
those affected represent about 46 pct of direct labor
plans for the creation of such an institution foreseen by the emss founding fathers have been thwarted by the reluctance of some countries notably west germany to gove up their sovereignty in the monetary field
india has called a fresh buying tender for up to four 13000 tonne cargoes of white sugar on march 11 traders here said
upon completing the deal there will be 2649500 common shares of capitive venture capital issued and outstanding of which 149500 shares will be held by the public
consolidated plantations bhd 
audiotronics corp ado to offer debt
it outbidhell bankruptcy trustee said
metropolitan financial corp said it signed an agreement to acquire the stock of closely held rothschild financial corp st
if the bundesbank had tried to brake the money supply rise with higher interest rates as would have been appropriate if credit was growing excessively it would not only have missed its target but probably even set off further inflows he said
northview corp said it reached an agreement in principal covering the acquisition of the company by privately held calmark financial corp
cassa di risparmio di roma launching cd program
the shanghai official said rural residents who work in industry or commerce usually keep their land to farm in their spare time or let other family members farm it
qtly div 40 cts vs 40 cts prior pay june 10 record may 27
the joint committee of taiwans soybean importers awarded a contract to cargill inc of minneapolis minnesota for supply of one 32000 tonne cargo of us soybeans a committee spokesman told 
poehl speaks against german interest rate cut
about 300 mln dlrs of debt and preferred were outstanding at december 31 1986
the paris club multilateral agreement concerned medium and long term debt due between september 1986 and end 1987 over 10 years with five years grace
at the time bankers had argued unsuccessfully for a larger repayment given the countrys trade surplus of 25 billion dlrs
bank building also said its board set july 30 as the date of the companys annual meeting with a record date of july six
it said in a statement the g 7 meeting which italy plans to attend will provide a forum for considering the tokyo accord in the light of events in paris in february this year
the sharp drop of the dollar had led to an immediate steep rise in the cost of us imports and a sharp fall in the cost of european imports
the newspaper said the administration has placed increased emphasis on stockpiling oil reserves
the coupon has been fixed at 750 pct and the conversion price at 248 pence to give a 2784 pct premium over last nights share price close on the london stock exchange
proceeds will be used to finance allieds acquisition of vons cos inc
shr 202 dlrs vs 194 dlrs net 147 mln vs 139 mln revs 2656 mln vs 2351 mln year shr 283 dlrs vs 336 dlrs net 207 mln vs 241 mln revs 7391 mln vs 6869 mln note current year includes loss equal to 12 cts shr from takeover defense and loss of 13 cts from loss of investment tax credits
continental also said that as of march 2 it had cash of more than 250 mln dlrs and equity of about 2846 mln dlrs allowing for a final total distribution of 1660 dlrs per common share
ohio edison did not detail the lease payments but it said the payments will reduce the amount of revenue the company will need to cover our investment in perry which translates into savings for our customers the utility said it projects the financing could reduce the amount of annual revenue needed by about 20 mln dlrs
hanson trust han completes kaiser purchase
the trade deficit in the first two months of 1987 totalled 233 billion pesetas a 68 pct increase over the corresponding period last year
west german finance minister gerhard stoltenberg said todays meetings of major industrial countries would look at ways of strengthening the paris accord on stabilizing foreign exchange rates
the company said if the merger agreement is terminated under certain circumstasnces it will be entitled to receive 20 mln dlrs in damages from chemlawn
stocks of money center banks were mostly down fractions in late dealings
earlier today the newspaper la repubblica cited remarks by the bank of italy which announced the deficit for may and said it had been partly caused by non banking capital outflows in practice it seems that there has been a constant flow of capital to foreign securities or investments outside our borders said the newspaper
danzar investment dnzr sets special dividend
non icco member cocoa can comprise up to 15 pct of the total buffer stock
tribune trb files 300 mln dlr shelf registration
oper shr five cts vs six cts oper net 1100000 vs 1463000 revs 1778 mln vs 3315 mln avg shrs 219 mn vs 257 mln first half oper shr six cts vs five cts oper net 1121000 vs 1090000 revs 3153 mln vs 5674 mln avg shrs 206 mln vs 256 mln note operating net excludes gains of 659000 dlrs or three cts a share vs 599 dlrs or two cts a share in quarter and 676000 dlrs or three cts a share vs 599000 dlrs or two cts a share in year from tax loss carryforward
intek diversified corp idcc 4th qtr net
general partners also said it would maintain gencorps plastics and industrial products division as well as tires and related products
miguel urrutia a senior official of the inter american development bank for instance said iadb lending had actually declined in 1986 and had started slowly in 1987
the company last paid 643 cts a share on the issue in august 1986
the purpose of the measures passed by the committee yesterday is to improve stockpile management and discourage sell offs of materials that could jeopardize strategic needs a staff member of the committee told 
juergen becker director of the bundesbanks division of banking law and credit supervision said the us british proposals were interesting but declined to elaborate
baker refused to answer a question whether japan and germany had done enough to stimulate their domestic economies for the united states to support the dollar
microdyne corp mcdy sets payout
vneshtorgbank seeks increase for facility
henley said it held discussions with sante fe concerning the acquisition by henley of bankers leasing and financial corp and certain sante fe transportation and real estate assets
we live in troubled and dangerous times for the world trading system he said
it said rice hall manages investments for institutions and individuals and has about 690 mln dlrs in assets under management currently
fee for co managers is 1 8 pct
in a filing with the securities and exchange commission the group said it sold 302833 cenergy common shares to snyder oil partners lp soi on march 14 for 2725500 dlrs and gave snyder another 605667 shares in exchange for 524135 units of limited partnership interests in snyder
exports of french soft wheat for the period july 1 1986 to march 1 1987 fell 276 pct to 821 mln tonnes from 1134 mln tonnes in the same 1985 86 period the national cereals office onic said quoting customs figures
the usda is to release its 1987 planting intentions report march 31
the banks first quarter provision for loan losses rose to 1720 mln dlrs from 1520 mln dlrs in the prior year
saturdays cattle slaughter is guesstimated at about 20000 to 40000 head
there are a variety of contingencies and restricted cash and all sorts of things that make it very speculative said one of the sources adding there are also severance payments to employees
schwab safe co ss ups payout
he also said that further acquisitions of school bus operations in the us are likely within the next few months
he said the governments proposed land reform program would exclude about 75 pct of the coconut farmers because they had less than the proposed seven hectares of land
oper shr 40 cts vs 47 cts oper net 2292000 vs 2688000 sales 819 mln vs 789 mln nine mths oper shr 120 dlrs vs 140 dlrs oper net 6842000 vs 7978000 sales 2447 mln vs 2342 mln note 1986 net both periods excludes 2223000 dlr special charge
the us government said the attack was a measured response to an iranian missile attack on the american flagged kuwaiti tanker sea isle city in kuwaiti waters last friday
this is the most positive development on the shipping front between south africa and its main trading partners in europe for more than four years when the service last operated weekly it said
france backed the ivory coast and other african producers during the talks
twas application clearly fails to comply with the filing requirements of our regulations and twa has provided no reason why we should accept such a deficient filing it added
cash grain dealers reported slow country movement of corn and soybeans across the midwest with even corn sales from pik and roll activity seen earlier this week drying up
period ended september 30 shr profit one ct vs loss three cts net profit 65000 vs 292000 sales 181 mln vs 167 mln
the companys expect to file a plan by the end of may
john hanson savings jhslo 1st qtr net
foreign currency business last year accounted for some 37 pct of balance sheet total compared with about 41 pct in 1985
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
because april 1 1987 is an interest payment date on the debentures no accrued interest will be payable on the redemption date as part of the redemption proceeds
soybean meal use fell to 258 mln tonnes from 263 mln and the compounding ratio declined to 100 pct from 103 pct
1986 qtr and nine mths include loss 126000 dlrs or one cent per share and gain 304000 dlrs or three cts per share respectively from discontinued operations
the white house economic policy council made a recommendation to president reagan whether to retaliate against japan for alleged unfair practices in semiconductor trade us officials said
canadian pacific seeks buyer for maple leaf unit
trans world airlines inc said chairman carl c
it also said morgan guaranty trust co was the fiscal agent and paying agent and that morgan euro clear and cedel another major clearing system and police in london and brussels were investigating the case
the suit filed in manhattan also names first boston corp fbc and seeks to void the issue by harcourt of 40000 shares of super voting preferred stock to first boston securities corp and the issue of convertible voting preferred stock with 4700000 votes in the harcourt employee stock ownership plan
the united states and major trade allies west germany france britain japan and canada met recently in paris to discuss maintaining stability in international currency values
its world group net profit in 1985 was 2559 mln marks
air canada said the acquisitions will complement its main cargo business
miyazawa says dollar below 150 yen is counter to paris accord
they told correspondents in asian capitals a us move against japan might boost protectionist sentiment in the us and lead to curbs on american imports of their products
this board will be presented as the slate for cts 1987 annual shareholders meeting it added
discount corps mcgroarty described the feds intervention volume as impressive james oneill of marine midland bank was not so positive however the dollar has not yet bottomed out
the real problem is the freeing of interest rates the banker said
the index base 1978 79 covering 14 towns and five regions was 18868 in february 18372 in january and 14340 in february 1986
west german finance minister gerhard stoltenberg said the meeting on monday with us treasury secretary james baker underscored the determination of the us and west germany to continue close cooperation to stabilise foreign exchange rates
payment of 310 dlrs and delivery of two warrants will entitle the shareholder to one additional share of the merged company the companies said
bsi is a privately held canadian company involved in actuarial employee and executive benefits consulting and administration
capacity is around 150000 bpd
the company said it will use existing cash resources for the share repurchases
pdvsa had available liquid assets of 20 billion bolivars at the start of this year of which nine billion were in a trust fund in the central bank of venezuela bcv and placed in government bonds
kodak ek buys stake in biotechnology company
towle manufacturing co qtow 4th qtr oper loss
this compares with a loss of 137000 dlrs or 15 cts a share and again of 13 mln dlrs or 145 a share for the fourth qtr and year respectively in 1985
money from the sale of the station will play a role in helping develop an alternative to the tender offer co sponsored by afg industries inc afg and wagner and brown reynolds said
du plessis earlier this year announced small concessions for taxpayers in a mini budget before the may 6 whites only election
meanwhile disruption began today to cargo handling in the ports of sydney newcastle and port kembla they said
ricart told his first aim is put the house in order by having a new administrative sugar pact with improved allocations of voting rights and financial contributions
hongkong and shanghai banking corp hkbhhk is close to a deal on the sale of a commercial building in hong kongs mongkok business district a bank spokesman said
burlington has alleged in its lawsuit that edelman and dominion used illegally obtained confidential information about the company in making their takeover attempt
he said a modernization program is in effect at the companys united kingdom operations where the labor force trimmed to 4000 from 10000 is expected to be further reduced to 2500 in 1988
shr profit 26 cts vs loss 86 cts oper net profit 780000 vs loss 2609000 revs 122 mln vs 171 mln year oper shr profit 528 dlrs vs loss 111 dlrs oper net profit 161 mln vs loss 3311000 revs 649 mln vs 698 mln note 1986 year net excludes 598000 dlr tax credit
the initial offering price is expected to be 15 to 18 dlrs a share and proceeds will be used for debt reduction it said
mln dlr 20 year loan to assist pakistan in a project designed to improve power plant efficiency
three geographically diverse droughts in asia are being linked by some scientists to a reintensification of the complex and little understood el nino weather pattern accu weather inc a commercial weather forecasting service said
they are scheduled to be delivered later this year
imports for the december 1986 quarter were 2655 billion against 2883 billion in the september quarter and 2454 a year earlier
hackmann said she would not make much change to her ideas about corn planting figures as a result of the conservation sign up
the company also said it did not believe the brazilian debt situation would have a material adverse effect on it
the issue will be sold in denominations of 5000 dlrs and listed in luxembourg
georgia pacific to have 60 mln dlr pretax gain from sale of georgia gulf stake
the mini refunding does not come at a particularly auspicious time for the market
shr loss one cent net loss 186000 revs 107 mln 11 mths shr loss 726 dlrs net loss 1214 mln revs 469 mln note in february 1986 kaneb services inc contributed all of its domestic oil and gas operations to kaneb partners which was newly formed and exchanged approximately 3200000 depositary units respresenting limited partnership interests in kep for approximately 6400000 million shares of the outstanding common stock of kaneb servies inc
it is difficult to be against the tax and against extra finance
colombian tax authorities are investigating occidental a us owned firm for alleged tax evasion
singapore petroleum co revises petrol pump prices
the united states will be represented at the meeting by former agriculture undersecretary daniel amstutz recently appointed special us negotiator on agriculture
louart corp a los angeles investment firm said it raised its stake in amerford international corp to 105615 shares or 78 pct of the total outstanding from 69715 shares or 52 pct
a house banking subcommittee has approved legislation to limit the interest rates charged by banks and other credit card issuers
other prime rates now range from 16 pct to 175 pct
concepcion said while the levy might be rejected by the ec council of ministers he noted that i cannot help but wonder whether the agreements we produce in meetings like this are of any real value he also said industrialised nations saved about 65 billion us dlrs in 1985 through low commodity prices but this had affected the ability of developing nations to import goods and services
the most controversial issue an amendment to restrict imports if countries such as japan with large surpluses do not buy more us goods was left for an april vote by the house
the controversial war powers act could require a pullout of us forces from the gulf
two mln tonnes of paddy would produce some 13 mln tonnes of milled rice above the 125 mln tonnes kampuchea says is the minimum its 75 mln people need
consolidated norex resources ltd said it agreed to acquire all issued and outstanding shares of triweb resources ltd a privately held oil and gas company with land holdings and production base in alberta and saskatchewan
eurostat said for the last three months for which figures are known industrial output rose by only 09 pct compared with the year earlier period
ted truman director of the international finance diviision at the federal reserve board said banks were short sighted in not lending promptly and in the amounts called for by baker
employers federation ncw chairman fred lempers criticised the guilders revaluation in line with the west german mark in last januarys european monetary system ems realignment and expressed concern over its effect on competitiveness
it said the date of the special meeting has not yet been determined
he rejected recent calls from some government quarters for wage increases this year as a means of raising private consumption and thus boosting domestic demand
yoot said thaisarco had to dig into its stocks to meet a large portion of new overseas orders which were averaging 100 tonnes per day
owens illinois files with sec for 205 billion dlr debt offering
us reaffirms opposition to ec oils tax plan
according to the sources the boards financial problems have been aggravated by long delays in processing export receipts
it would not be discriminatory because it would be applied to domestic and imported products and past experience showed it would not cause any decline in consumption of oils and fats
the division makes specialty industrial chemicals it said
encor energy corp plans 125 mln dlr debenture offer
debt securities of major us banks came under light selling pressure in secondary trading on the heels of standard and poors corps downgrade of six money center banks late yesterday analysts and traders said
but the new products will lead to 58 pct growth in mid range computers this year and 307 pct growth in 1988
german federal railways stock 900 mln marks 10 years at 6 1 4 pct and par bundesbank
rospatch corp said it rejected a proposal by diagnostic retrieval systems inc to acquire its stock at 22 dlrs a share
if we move out of one floor entirely then the construction period will be about a year he said adding that the issue was likely to go to a membership vote first and then be on the drawing board for eight months to a year
feb 28 end shr 44 cts vs 16 cts shr diluted 37 cts vs 16 cts net 5378000 vs 1987000 revs 268 mln vs 146 mln avg shrs 124 mln vs 121 mln shr 126 dlrs vs 45 cts shr diluted 110 dlrs vs 45 cts net 155 mln vs 5401000 revs 803 mln vs 464 mln note share adjusted for stock dividends declared through today
the issue price will be 9644 pct and the payment date is march 30
kaplan is also controlling shareholder of hunt valve co inc the amount of the cash transaction expected to close in april was not disclosed
mony funding issues 125 mln dlr eurobond
early redemption will not be allowed
cyacq also said the citicorp unit had received no indications of interest in an alternative offer it had made from dixons cyclops or alleghany corp y which has agreed to acquire cyclops industrial group from dixons
declining to put figures on possible contracts he said he had discussed plant protection and the processing of highly sulphuric gas with rhone poulenc packaging technology for agricultural products with pechiney and fruit and vegetable juice processing with imec
world trade in manufactures grew by only three pct in 1986 about half of the rate of the previous year
japanese finance minister kiichi miyazawa expects the dollar to rebound soon a ministry spokesman said
japan in last ditch effort to save chip pact
earlier today carl icahn dropped his bid to take trans world airlines inc twa private and dart group corp dartao said it abandoned plans to acquire dayton hudson corp dh both cited market conditions
cherokee group inc chke 1st qtr feb 28 net
gradual warming continued in most regions of western soviet union in the week ended april 4 the joint agricultural weather facility of the us agriculture and commerce departments said
frances finance ministry said it named credit commercial de france ccf and goldman sachs as its advisers in the privatisation of societe generale sgenpa a ministry statement said accountants guy barbier had been chosen to audit the societe generale accounts ahead of the privatision share offering later this year
preliminary talks are on between two state owned philippine banks and soviet metal trading and equipment sales company tsvetmetpromexport on rescuing nonoc mining and industrial corp nmic which operates the philippines only nickel refinery a soviet official said
he said the 90 day paper of the chemicals company has an annualised yield of 4664 pct
according to official yugoslav figures yugoslavia repaid a record 597 billion dlrs in capital and interest in 1986
in its world production and trade report the department said hog numbers at the start of 1987 were estimated at 3316 mln head up slightly from 1986 and 10 mln head above earlier projections for 1987
between 1984 and 1986 reorganizations added almost 9000 new persons to us agriculture department payment rolls crowley told the house agriculture subcommittee on wheat soybeans and feedgrains
the following proposed securities offerings were filed recently with the securities and exchange commission general instrument corp grl offering of 150 mln dlrs of convertible subordinated debentures due 2012 through an underwriting group led by lazard freres and co dillard department stores inc ddsa shelf offering of up to 100 mln dlrs of debt securities including debentures and notes and a shelf offering of another 100 mln dlrs of debt securities by its dillard investment co inc subsidiary both through goldman sachs and co
a cocoa withholding scheme can take a further 120000 tonnes of cocoa off the market if a special council session decides market conditions warrant it according to the agreement
however others were less worried
the rate cut had been expected since the bank announced a money market intervention tender earlier today
there is no question in the mind of the department of agriculture that these certificates have been very useful amstutz said
allis chalmers said it will exchange existing preferred stock for common
it said fees totalled 1 3 4 pct of which 1 3 8 pct for selling and 3 8 pct for managment and underwriting combined including a 1 8 pct praecipuum
pepsico unit pep lifts calnyo stake
disgruntled dealers said the market was slowly on the road to recovery after a bout of sell off that began in early february but it was still too fragile to absorb a new issue
the entire british petroleum co plc refinery at grangemouth in scotland has been shut down following the explosion and fire that severely damaged the hydrocracker at the site a refinery spokesman said
maturities on the certificates will be between seven and 365 days
26 reported dead in ferry disaster
in addition it said that the loss of corporate leadership had adversely affected some of the bay areas civic and charitable activities
fluor corp said it won a contract with general electric to design construct and deliver modules for a methyl chloride process addition
net 41724 vs 120329 revs 1194556 vs 1504702
shin etsu chemical co ltd said it had developed an ultra thermal resistance rubber which can be used at 250 centigrade continuously without losing its properties
interconnect capital said it intends to purchase the gates corp loan to gates learjet for 13 mln dlrs should its bid be successful
westpac said in a statement various other lending rates are also being revised downwards
du plessis said available foreign reserves of the reserve bank which increased by about 800 mln dlrs in the past two months and a continued current account surplus will be sufficient to meet terms of the new interim debt agreement
the uk government bond market closed showing severe losses ranging to almost 1 1 2 points as sharp falls for us treasury bonds resulting from pronounced dollar weakness exacerbated existing uncertainty dealers said
he also projected the economy would expand 28 pct this year
the quality of buffer stock rubber sold since he entered the market in september would be discussed at an inro council meeting which opened here today he said
california firm has five pct of modulaire modx 
foreign liabilities fell 100 mln to 229 billion giving a net currency reserves increase of 300 mln to 866 billion
cheap corn is still the main incentive for putting cattle on feed according to smith barney livestock analyst tom ohare
bilzerian may seek control of pay n pak pnp 
although the reed operation is relatively small in view of the total size of a combined baker hughes pace said 30 to 40 pct of the cost savings are tied up in that they hughes are obviously concerned about the lawsuit said james crandell analyst at salomon brothers inc
west german bond yields could decline over the next few months if recent efforts to stabilize exchange rates as seen in last months paris pact extend to keeping down european interest rates banking economists said
japan buys 5000 tonnes canadian rapeseed
citibank cited the higher cost of money especially in the euromarket as the reason for raising its prime rate
based on field travel in the brazilian state of parana soybean yields should be about average or 20 to 22 tonnes per hectare the us agriculture departments officer in sao paulo said in a field report
uk grain potato futures volume down in february
i would not be surprised if the bundesbank cuts the amount a little to say 14 or 15 billion marks one dealer said
a prolonged dry spell has damaged 111350 hectares of rice and corn plantations in 10 provinces in the central and southern philippines agriculture officials said
the bank said it will offer 100 mln ringgit of 91 day bills and 150 mln of 182 days at a tender closing on april 20
but countertrade deals still make up only a small part of indias total trading and are likely to account for less than eight pct of the estimated 1853 billion dlrs in trade during the nine months ended december the sources said
salomon inc has lowered its investment ratings on all us money center banks institutional sources said
the new firm to be known as kpmg peat marwick will rank among the largest public account and consulting firms in the us based on combined 1986 revenues of 135 billion dlrs 1825 partners and a total staff of 16500 in 136 offices
shr loss three cts vs loss 12 cts net loss 25836 vs loss 88819 revs 503 mln vs 452 mln six mths shr profit nil vs loss 18 cts net profit 2843 vs loss 137653 revs 1093 mln vs 993 mln
the ec is worried
these moves are in line with its long term strategy to put more emphasis on overseas investment management as opportunities at home are declining while the companys assets are growing
the yield and premium over treasuries was greater than a similar financing in january
geodome said a new ore zone discovered last summer is not included in reserve calculations
virginia federal and montrose capital said the agreement provides for the conversion of virginia federal from a mutual to a stock association and the purchase of 100 pct of its stock for 20 mln dlrs by montrose
union planters corp upcmo 1st qtr net
no targets for volume will be set
mtech 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
for the week ended march 13 api reported gasoline stocks down 29 mln barrels
talking point borg warner corp bor 
city savings bank of meriden csbmo 3rd qtr
a fourth national spokesman said the deal was for cash but would not disclose the amount
segal said manufacturers hanover has been authorized to convert part of its own portfolio of loans into equity investment in mexican hotels
both sides are showing clear interest to secure stability of the currencies
an arbitration panel set up by president corazon aquino to resolve the ownership issue is expected to submit its report by april 15
1986 shares give effect to issuance of 15 mln shares in exchange for outstanding series 1 preferred shares
we are close nearer than ever to accepting it but we still have some work to do producer spokesman mama mohammed of ghana told after a producers meeting
it said surcharges on shipments of all break bulk cargoes to non iraqi arab ports would be reduced to 30 pct from 45 a conference spokesman declined to say why the move was taken at a time of heightened tension in the gulf
the average price for the six months bills was 97068
us industrial production rose 05 pct in february after a revised 01 pct increase in january the federal reserve board said
hf ahmanson and co ahm 3rd qtr net
of the 1500 billion lire of 12 month paper offered operators requested and were assigned 911975 billion lire at a net annualized compound rate of 902 pct
this compares with 8140 stg last paid when lme trading ceased in october 1985 and a record high tin price of 10350 stg traded for cash standard grade metal in june of that year
sosnoff ends deal with pratt southmark on possible venture for caesars bid
de croo here for talks with administration officials and congressmen said if a textile bill passed the only way we could react would be retaliation and it would cause more retaliation which is not a good way to deal with problems he said if a textile bill was enacted we will impose taxes on a lot of american products he said it would be stupid
ongpin said the restructuring of commercial bank debt as well as of 870 mln dlrs of debt by the paris club of western creditor governments in january was expected to reduce the countrys debt service ratio to between 25 and 30 pct from its current level of 40 to 45 pct
us dot approves american amr aci acf pact
other results released so far show saudi american bank samba reporting a 538 pct fall in 1986 net profit to 807 mln riyals while al bank al saudi al fransi known as saudi french slid 14 pct to 949 mln riyals
the shipping sources said the various port unions appear to be taking it in turn to work for a short time at the start of each shift and then to walk off
banque francaise du commerce exterieur bfce is issuing a 150 mln dlr seven pct bond due april 1 1992 at par lead manager societe generale said
within the past few months national westminster bank plcs county bank subsidiary and swiss bank corp have applied to the federal reserve bank of new york to become primary dealers in us government securities and their london offices have just recently received direct dealing brokers screens
for the second quarter ended january 31 caesars world earned 126 mln dlrs on revenues of 1904 mln dlrs up from earnings of 7500000 dlrs and revenues of 1638 mln dlrs a year before
argentina does not discard the use of a moratorium if the negotiations do not produce a result that guarantees the growth of the country he added
the current adjusted conversion price is 1149 dlrs a share
ministry officials said the semi government livestock industry promotion corp lipc conducts buffer stock operations to help keep wholesale beef prices within the intervention price zone
the bank this morning finally signalled it was prepared to see lower rates and uk clearing banks this afternoon announced cuts in their base lending rates to 105 pct from 11 pct
morgan guaranty offers australian dollar issues
japan given little hope of avoiding us sanctions
the average price was 97480
currently all mark denominated eurobonds have to be registered with the bundesbank in the week preceding the two week issue period
morgan said the complaint filed in us district court for the southern district of new york stems from the recent voluntary liquidation of metromedia which has intentionally created an event of default on the notes
but a record yield of 130 kilos per tonne of beet kept production at 454000 tonnes with 30000 extra refined in yugoslavia from hungarian beet
the bonds are non callable for 10 years
the narrow measure m0 fell a provisional adjusted 3 4 to one pct after a 06 pct drop in january the bank said
abnormally warm and dry weather over most parts of china is seriously affecting crops the new china news agency said
the wednesday average rose to 946 mln dlrs from 148 mln a week earlier
meanwhile bankers were to hear in new york this afternoon what impact brazils hard line would have on argentina with an initial presentation from argentine treasury secretary mario brodersohn on his countrys request for 215 billion dlrs in new loans and a multi year rescheduling agreement
the class j five bonds totalling 49987 mln dlrs will be fully paid by august 2017 and priced at par to yield 857 pct
fernald declined to identify the other party involved in the talks
it said it hopes to conclude negotiations with the debenture holders and its lenders and to conclude the exchange offer as soon as possible
the price will be increased by it being likely to have much of its debt wiped off by a government anxious to assure the companys health when it has to fend for itself
as stated at the time of the original announcement the company said the payment will be made to holders of record march 31
he pointed out that the relief only applies to the development of new fields outside the southern basin
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
project implementation is very slow in indonesia and we are not very satisfied with the pace
cyacq cuts conditions on cyclops cyl bid
corrects headline and dividend figure to show payout was raised
discussing the status of other parts of bolivias four billion dlr foreign debt 25 billion of which is owed to governments and the rest to international agencies nogales said negotiators had achieved considerable success in recent discussions with the paris club
sun electric corp se 1st qtr jan 31 oper net
chartered bank net foreign currency assets fell 231 mln dlrs to minus 200 billion dlrs
this year and to a lesser degree in 1988 domestic demand should be stimulated by buoyant growth in household consumption made possible by wage increases following pay negotiations
this move follows similar cuts by four major british clearing banks led by national westminster bank plc nwbll lower rates were signalled by the bank of england this morning in an attempt to curb recent upward pressure on the pound market sources said
trade sources have said alcoa is long call options equal to 30000 to 50000 tonnes of aluminum due to mature in april and may
bormans inc brf declares qtly dividend
but the exxon executive said that there were still plenty of opportunities to be explored and developed outside of the middle east particulartly in canada the north sea and australia and africa
the quake ruptured ecuadors main oil pipeline suspending crude exports for five months until the line is repaired
the world bank said it will provide 371 mln dlrs to tanzania and rwanda through the international development association ida the banks concessionary lending affiliate
baker said last night in a statement that the required assets to be sold would reduce revenues by about 65 mln dlrs representing about three pct of the revenues of the combined companies
but they said there was little chance japan could react quickly enough to avert the higher tariffs
the company said directors also declared regular quarterly dividends on presently outstanding shares of both classes of common payable april nine to holders of record march 16
in the senate a leading republican senator former senate appropriations committee chairman mark hatfield of oregon said he would try to prevent consideration of the bill
a 322 billion dlr offer for dome petroleum ltd dmpmo by transcanada pipelines ltd trpto may short circuit domes restructuring plan and open the door for more takeover bids oil analysts said
computers made by us manufacturers are widely used in the world but tokyo told us negotiators recently it prefers local manufacturers and would not buy us supercomputers
frank guarini d nj however the failure of the ico talks in london to reach agreement on export quotas means the us legislation is not immediately needed one analyst said
south koreas customs cleared trade surplus narrowed to 110 mln dlrs in february from 525 mln in january provisional trade ministry figures show
emery has shown the courage to go forth said one arbitrager who speculated other courier companies may also emerge as bidders
us drafts sanctions in argentina soy case
they will be replaced with coca cola co ko and boeing co ba the paper which is published by dow jones and co inc dj said the change in components will require revision of the divisors used to calculate the industrial average and the related 65 stock composite index to maintain the statistical continuity of the indices
1986 net excludes 729000 dlr tax credit
but farmers who elect not to participate in the program are free to plant all the acreage they have
parent company pre tax profit increased to 172 billion from 162 billion
christians said deutsche used the extraordinary earnings from flick to pay a record five mark bonus on top of its unchanged 12 mark dividend
hanson han unit to sell kaiser terminal plant
commercial metals co cmc 2nd qtr feb 28 net
the decline was partly compensated by a small rise in purchases of durable goods
republic savings and loan rsla sets dividend
corporate raider irwin jacobs last year proposed a takeover of the firm and until recently held 10 pct of the stock
one valley bancorp ovwv raises quarterly
home savings bank hmsbo 3rd qtr net
turnover 3801 billion marks vs 4272 billion
fourth quarter 1986 includes reserve of nine mln dlrs for operations company plans to sell
ec awards export licences for 25000 tonnes maize paris trade
colombia which held stockpiles of 105 mln bags at the start of the current coffee year exported a record 115 mln bags in the 1985 86 coffee year ending last september 30
a reduction of the us federal budget deficit will be needed to help eliminate the nations huge trade deficit us trade representative clayton yeutter said
crude output decreased to 421500 tons from 427000 tons revised higher refined copper deliveries decreased to 359800 tons from 375400 tons revised lower
a company official said it won a 500 mln yen order to deliver 10 sets of casting equipment to venezuelas venalum by end 1987
citicorp ccin and chase manhattan corp cmbn have already entered the japanese securities market by acquiring uk securities houses already operating in japan
usair u rejects twa twa takeover bid
lone star industries inc said it has agreed to acquire ready mixed concrete and aggregates businesses from riedel international inc of portland ore for an undisclosed amount of cash
shr 24 cts vs 13 cts net 704803 vs 385081 revs 5669682 vs 4142095
dealers noted that money market rates again eased this morning and the bank may have refused bill offers from the discount houses at rates below its established dealing levels
shr 35 cts vs 29 cts net 3732000 vs 3131000 assets 109 billion vs 8612 mln deposits 8177 mlnvs 7057 mln loans 7041 mln vs 5534 mln note 1986 results restated to reflect acquisition of united banks corp
saudi arabia allowed its output to sink as low as two mln bpd in august 1985 to compensate for slack demand and over production by some opec states
its total help so far today amounts to 1713 billion stg
bank of spain suspends assistance drains funds
allegheny international inc said it has sold its chemetron railway products inc true temper railway appliances inc and allegheny axle co units to newly formed chemetron railway products inc for undisclosed terms
such a move would destroy the cohesiveness that gives farm cooperatives an advantage in the market at a time that a few major commercial companies are growing dominant he said
the purchase agreement includes the forsyth county news published on wednesday and sunday and the winder news a weekly among other publications
the us senate agriculture committee approved a bill that would establish farm trade and aid missions to promote the use of us food aid donation credit and export subsidy programs by overseas customers
finance minister michael wilson announced amendments to canadas revolving standby credit facility with a group of canadian banks to provide more favorable terms including a reduced commitment fee and lower cost borrowing options
costa ricas economy minister said he sees new hope for winning changes in the international coffee organisation system of export quotas
but it said the article was about the ingredient and did not mention the spermicide or the condoms made by inkey
herrhausen said he did not expect interest rates to rise in west germany this year but there was little room for further falls
gluck said the caesars world board once again recommends that shareholders reject the sosnoff offer
us banker predicts further dollar fall this year
the offer is conditioned on receipt of at least 5116892 purolator shares or a 667 pct interest and is the first step in a merger agreement that has been approved by the purolator board
magellan did not disclose the terms of the agreement
the current practice of filing tax redemption claims is time consuming they said
usda estimates soviet wheat coarse grains
opec is scheduled to meet in vienna on june 25 where it will review its current oil price and production policy
capacity use was high at the parent company in 1986 resulting in a decline in marginal unit costs
prices of oil stocks rose sharply today in response to higher oil prices and optimism about opec quotas
telcom is an international film and television distributor
payment date is april 8 and the issue matures on the same date in 1993
brazilian marines were today working on the unloading of ships at the local port as a national strike by 40000 seamen entered its 10th day without signs of an agreement
royal dutch shell offered 55 dlrs a share for the 305 pct of shell oil it did not already own in january of 1984
usair group rejects trans world airlines takeover bid
yields on these securities to be fully paid by dates from 2011 to 2017 range from 721 to 870 pct
he called the present situation more difficult and in a draft proposal included in the task forces report suggested setting up an institution possibly within the world bank with a fund that could deal with a future debt crisis
neither does he expect any significant acreage cuts in higher producing delta areas
canadian pacific ltd 4th qtr oper net 30 cts vs 20 cts
he called for more investment in grain production an immediate ban on illegal use of or damage to farmland and a reversal of what he called the tendency to rely on grain imports
but some unions including those of building and mining workers said they were dissatisfied with the deal and would continue their strikes for a few more days
advanced institutional aimso year loss
the other two have been in business for two years
a blizzard warning continued this morning across most of western kansas
the banks will not rush to raise their prime rates
increased federal government borrowing needs and a growing unwillingness by foreign investors to buy mark assets could push yields in german public authority bonds higher this year bond market sources say
nbc makes final offer to writers technicians
the company said the remainder of its write off would include a one time expense for future costs related to early retirement programs office consolidations and an increase in the general reserve for adjustments and contingencies
we expect this mine to be worth about 2000 billion yen in gold deposits he said
singapore m 1 money supply 27 pct up in january
there is a possibility that the dollar may decline to around 14000 yen by the end of this year said chemical bank tokyo branch vice president yukuo takahashi
entourage also said it has started marketing a solid perfume packaged in a lipstick tube called amadeus retailing at 15 dlrs
the non callable issue of senior debt guaranteed by france has fees of 1 1 4 pct for selling and 5 8 pct for management and underwriting including a 1 8 pct praecipuum
production prices the basis for setting intervention prices have been falling because of declining compound feed prices due to low coarse grain import prices they said
elxsi ltd elxsf 4th qtr loss
in a filing with the securities and exchange commission harris said it bought 81001 centerre common shares between jan 2 and march 4 at prices ranging from 3600 to 3975 dlrs a share
qtr ends jan 31 shr three cts vs one cent qtrly div seven cts vs seven cts prior net 106185 vs 28871 revs 469 mln vs 303 mln 12 mths shr 33 cts vs 23 cts net 1306595 vs 878484 revs 1872 mln vs 1408 mln note effective july one 1986 the company acquired the outstanding stock of western american forest product inc for cash and convertible debentures
the dollar fell below 143 yen in hectic early tokyo trading despite aggressive bank of japan intervention dealers said
but some of the latest economic data show signs of surprising strength in the us economy although some economists remain cautious about the outlook
the reserves reached a record high of more than 51 billion us dlrs wednesday
australias leading wheat markets include china egypt iran iraq the soviet union and japan
i will work to reach that solution he said in the interview conducted in paris
goodyear said the previously announced acquisition by loral is expected to be completed march 13
soviet claims to be treated equally accountants
a payment obligation entitles the holder to receive a cash payment under certain events or to certain repurchase rights
of that amount six billion dlrs is targeted for electronics
continental said the terms of the deal were not disclosed
only two days were suitable for fieldwork
the purpose they said is to review the breakdown of international coffee organization quota talks last month and try to formulate a unified position ahead of possible future negotiations
the eia said residual fuel stocks fell 15 mln barrels to 364 mln barrels and crude oil stocks in the strategic petroleum reserve spr rose 200000 barrels to 5167 mln
moderate product stockdraws would strengthen the market slightly analysts said
the company said the sale is taking place because amtech is not compatible with blockbusters main line of business will require substaintial additional funding to develop and market its product and is expected to sustain operating losses for the forseeable future
the white house welcomed the february retail sales figures showing a 41 pct rise following a slow performance in january
dividends declared today are payable april three may six june four july three and august six to holders of record march 23 april 17 may 15 june 12 and july 17
brooklyn union gas cos brooklyn union exploration co inc unit said it entered a 200 mln dlr three year gas and oil exploration and development venture with smith offshore exploration co
for 1986 nuclear support a supplier of support personnel and services to the nuclear power industry had net income of 24 mln dlrs on sales of 306 mln dlrs
the dollars recent decline despite massive central bank purchases is a forceful reminder that official intervention in the foreign exchanges can work only if it is well timed to coincide with shifts in market fundamentals or sentiment dealers and analysts said
nor quest said it plans to bring northairs willa mine in the nelson area of british columbia into production using nor quests recently acquired 1200 ton per day mill located in the area
yesterday the government sent thousands of troops supported in some instances by tanks to occupy nine oil refineries and six areas of oil production
the bass family would not comment on american medical or pesch
but the foreign banker who asked not to be named said it faced internal competition from the industrial and commercial bank
the government having consistently overshot its own spending targets for more than a decade also faces a credibility crisis over expenditure figures outlined in the budget analysts said
toshibas timing seems most unfortunate for the company as it comes exactly when we are looking for someone to punch one official told 
swedish prime ministers china visit boosts trade
exports were 1120 billion against 1136 billion
the ministry had originally estimated that industrial production fell 30 pct in january
im not looking for improvement this year
jamesway corp sets 2 for 1 stock split ups cash payout 33 pct
net charge offs were 347 mln compared to 411 mln dlrs a year earlier
amax incx said it has identified additional gold and silver ore reserves at its amax sleeper mine near winnemucca nev it said as a result of recent drilling reserves at thhe mine are now estimated at 2470000 short tons of ore grading 024 ounce of gold and 050 ounce of silver per ton that is treatable by conventional milling techniques
us factories used 10530 mln lbs of various vegetable oils in the production of edible products during february the census bureau reported
us bank discount borrowings 228 mln dlrs
there will be no serious bids at european community open market tenders for wheat and barley until ec farm ministers agree to the 1987 88 farm price package trade sources said
shr 14 cts vs four cts net 1474000 vs 286000 revs 155 mln vs 14 mln avg shrs 106 mln vs 75 mln nine mths shr 38 cts vs eight cts net 3387000 vs 588000 revs 334 mln vs 29 mln avg shrs 88 mln vs 75 mln
us activities accounted for 34 pct of 1986 turnover compared with 22 pct in 1982
this reduced interest income by 15 mln dlrs
in conjunction with the sale of assets mki has ceased brokering treasury bills notes and bonds fundamental said
of the total original issue of 667 mln dlrs 50 mln dlrs of notes were sold to the public and 167 mln dlrs were sold to the merchant navy officers pension fund of great britian
ecuador asked for the loan to guarantee domestic supplies and would ship an equivalent volume back to venezuela in repayment in may lusinchi said
metex also said mason carter was elected president and chief operating officer of the company
placer pacific ltd said it will undertake a full feasibility study of western australias big bell gold prospect
subscriptions close march 18 and payment date is april 2
all the action of the past week has been in the far east raws market whereas the whites market saw little fresh prospect of nearby offtake whitehouse added
a new market has emerged in warrants to buy gold a vehicle which bankers say brings some of the play of commodity options into the field of securities
the bonus award was made to conagra poultry co and will be paid in the form of commodities from the inventory of ccc stocks
zaire under the government of president mobutu sese seko has recently been taking many reform measures designed to heal its ailing economy
we have left the door open and ge is reassessing the merger and so are we westinghouse chairman douglas danforth told at the conclusion of a meeting before analysts
the malaise was felt through the banking sector with a two point fall registered by one bnp note to give a three point drop over two trading days
the bundesbank may either set a fixed allocation rate and allow banks to tender for the volume as has been the case since it lowered its discount rate january 22 or else it may allow banks to tender for the rate and set the volume itself
the yens unabated strength despite the intervention brought it up to 12555 marks per 100 from yesterdays 12480
aluminium scrap recovery and usage and output of secondary metal will continue to rise said shearson lehman brothers in a review of the secondary aluminium market which details cost and demand factors
it said other operating groups have been established through acquisitions
brazil has adopted a tough stance with banks on external debt negotiations and is likely to be just as tough on coffee they said
last week the european commission accepted 785000 tonnes of sugar into intervention by operators protesting about low rebates
they will not ease as long the dollar is weak but clearly they cant tighten david wyss of data resources inc said that the downward revision in february non farm payroll employment to 236000 from 337000 means that employment gains in the first quarter were weaker than expected
this would give mannesmann around 75 pct of fichtel und sachs
the yield on the bills for sale to banks and securities houses from money houses will be 38999 pct compared with the two month commercial bill discount rate today of 38750 pct and the two month certificate of deposit rate of 413 00 pct
in the near term however analysts said with seven billion dlrs in assets citicorp savings is still not a major force in the thrift market against such large california thrifts as home federal great western financial corp gwf h f ahmanson and co ahm golden west financial gwd and great american first savings bank gta
we needed some help from the cold storage report to avert a possible setback next week in the pork complex levitt said
swiss banks meet churches over s
colombia will also attend for the first time as an observer nation the ministry said
on friday waste management said it would raise its bid to 35 dlrs per share
a spokesman said the suspension was just a reaction to yields on national savings bonds being way out of line with the rest of the market
heublein said it is will still be represented in canada by gilbey canada inc
united companies financial corp said its board declared a two pct stock dividend payable april eight to holders of record march 17
the circular released officially to said current arrangements for providing liquidity aid will no longer be valid except in quite exceptional circumstances under the current system the agency provides the islands 20 commercial banks with dinar liquidity by means of short term swaps against us dollars and less frequently by short term loans secured against government development bonds
dart said it urges a meeting with supermarkets general officials be held promptly
canadian finance minister michael wilson said on entering the meeting the ministers would review the paris agreement
qtly div 12 1 2 cts vs 12 1 2 cts pay march 31 record feb 27
shr 20 cts vs 12 cts net 34088000 vs 18727000 revs 3404 mln vs 2003 mln nine mths shr 53 cts vs 31 cts net 88661000 vs 49059000 revs 9265 mln vs 5601 mln avg shrs 1511 mln vs 1370 mln
ccc accepts export bonus for cattle to egypt
the company said any decline would be due to expenses related to the acquisitions in the middle of the current quarter of seven licensees of sealy inc as well as 82 pct of the outstanding capital stock of sealy
qtr ended feb 28 shr 35 cts vs 38 cts net 1682047 vs 1817820 revs 361 mln vs 299 mln six mths shr 73 cts vs 75 cts net 3518515 vs 3606689 revs 741 mln vs 627 mln
the world bank approved a 100 mln dlr 20 year loan to help modernise the machine tool industry in shanghai the new china news agency said
with this move mr
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
he said the arguments cited by hughes yesterday for not doing the merger tend to be weak hughes said yesterday that as a condition of the merger it wanted reed tool and other businesses sold prior to april 22 the projected merger date
the federal national mortgage association said it wanted to clarify the status of yesterdays offering of one billion dlrs of debentures due march 10 1992
the split common and 25 cts preferred shares will be distributed on july 2 1987 to shareholders of record june 24 1987
the government has confirmed that growth was negative in the first 1987 quarter
brown forman inc bfd 4th qtr net
pakistan is likely to produce a record 76 mln bales 375 lbs each of cotton from the current 1986 87 crop exceeding a target of 72 mln bales food and agriculture minister mohammad ibrahim baluch said
board of foreign trade director vincent siew told reporters on saturday us officials told him in washington last week that unless taiwan allowed its dollar to rise faster it would face retaliation
money market dealers said call money was likely to hold in a 350 70 pct range for most of this month after the bundesbank switched last month to tenders by interest rate at a minimum bid rate of 350 pct allocating funds at 355 pct
soybean imports are forecast to rise to 425000 tonnes in 1987 88 october september from an estimated 300000 in 1986 87 and 375000 in 1985 86 the us embassy said in its annual report on indonesias agriculture
iraq said today its troops were pushing iranian forces out of positions they had initially occupied when they launched a new offensive near the southern port of basra early yesterday
im very positive on gm said jack kirnan of kidder peabody and co
icahn has acknowledged that he has been subpoenaed in connection with sec probes but this is the first time he has disclosed that he is among those being investigated
the acquistion brings to 57 health care facilities acquired in the last three months the company said
oper shr loss 44 cts vs profit 58 cts oper net loss 27 mln vs profit four mln revs 133 mln vs 284 mln avg shrs 61 mln vs seven mln note prior year excludes extraordinary gain of 21 cts per share
unseasonal cold weather has delayed sugar beet plantings in west germany by up to three weeks the agriculture ministry said
with the abundance of grain and cotton in the past few years some people got carried away relaxing their attention to grain and cotton production he said
carole ryavec an analyst at salomon brothers asia ltd said the major overall issue is to stimulate the domestic economy and move away from an export dependent economy
total systems services tsys 1st qtr net
rte rte buys some emhart emh assets
the program is guaranteed by the government of queensland
more realistic estimates indicate that 1988 production will be between 15 and 16 mln tonnes the report said
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
the complaint also discloses that on each occasion multifoods management rejected the groups overtures
foreign traders will be able to hedge trades against nymex prices before the exchange opens and negotiate prices at a differential to nymex prices mckiernan explained
soviet figures show economy still short of targets
southwest realty ltd said it believes it could make all of its scheduled montly debt service payments for 1987 despite the falloff in its rental operations but making the payments would probably severely impair its liquidity and restrict its ability to maintain the quality of its properties
moscow produced 210 mln tonnes in 1986
he said venezuelas oil would be traded through ecuadorean state oil company cepe but the pdvsa official said the company never allows third parties to trade its oil
wausau paper mills co wsau 2nd qtr net
general electric credit corp a unit of general electric co said it has called for redemption on april 13 1987 its 150 mln dlrs 7 5 8 pct notes due 1988
amselco minerals inc a unit of british petroleum co plc said it approved construction of a new plant with nerco minerals co to process carbon ore to recover microscopic gold reserves
they will be listed on the london stock exchange
she talks and i listen but i dont necessarily agree monsod said a firm commitment from the banks on bridging the financing gap would have aided the governments pump priming program and 1987 92 medium term development plan
in the 1985 86 financial year pre tax profit rose to 181 billion stg from 148 billion in the previous period
the company said its year end reserves did not include the oil and gas reserves of houston oil fields co which recently agreed to merge with it pending shareholder approval in mid april
yeutter sees us japan verging on trade conflict
the communication was sent through switzerland which represents us interests in iran
stephens said the fall in business volume was a top convern adding that the department may have to compete more aggressively with private insurance firms providing similar services
shr three cts vs two cts net 456000 vs 272000 sales 15 mln vs 144 mln nine mths shr six cts vs 23 cts net 992000 vs 3812000 sales 411 mln vs 454 mln order backlog 46 mln vs 243 mln note 1986 figures include a gain of 29 mln dlr or 17 cts a share from life insurance proceeds
it gave no further details
they can be converted into shares of the companys stock at 23 1 2 dlrs a share
liberty said the acquisition of its unit liberty savings bank by equimark corp will result in the bank operating as a separate wholly owned unit of equimark
each new casino must conduct a limited bet day before opening for regular gaming
household mortgage co had planned to offer a 25 year fixed rate mortgage after the june 11 elections on the assumption that a conservative party victory would help money market rates fall further according to duncan young managing director
reserve bank governor gerhard de kock said south africa should have no difficulty whatsoever with the terms
arkadi kuhlmann president and chief executive officer of deak international said the purchase will expand deaks operations in precious metals and wholesale non ferrous metals trading
it estimates that total bulk shipping demand from the iron ore sector will fall by almost 10 pct or 200 billion tonne miles with shipping demand associated with the coking trade down about 17 pct or 130 billion tonne miles
sellers quoted 64 pct fishmeal at between 640 and 650 marks per tonne free on truck for spot and between 630 and 640 marks for april dec
banco royal is the only canadian owned commercial bank in brazil although bank of montreal has a brazilian investment bank subsidiary he said
the company said the remaining funds will be used to equip a prooduction facility in chino calif and provide working capital
local m1 rose 123 pct to 5797 billion dlrs after a 62 pct rise
he reaffirmed that the planned meeting march 7 of opecs differentials committee has been postponed until the start of april at the request of certain of the bodys members
qtly div 26 1 4 cts vs 25 cts prior pay aug 14 record june 30
long term rates are expected to fall to between 14 and 16 pct
itoh and 35 pct by an indonesian company
in another recent development systems for health care formally changed its name to its present form from orcas corp
universal said its universal furniture industries nv unit bought 235750 bench craft shares march 4 in the over the counter market
moodys said the review was prompted by the recent bid by donald trump to acquire control of the company
there has been slight progress towards reaching a rubber pact the chairman of a united nations conference on a new international natural rubber agreeement inra manaspas xuto of thailand said
sosnoff said the talks with pratt and southmark are not being actively pursued at the presentand may or may not be continued in the future
turkish central bank sets lira dollar dm rates
the cpi for urban wage earners and clerical workers cpi w rose to 3290 in february the department said
delta natural gas co inc is raising 14 mln dlrs through an offering of debentures due 2007 with an 8 5 8 pct coupon and par pricing said sole manager edward d
brazils coffee chief jorio dauster said yesterday brazil would not change its coffee policies
australian reserve bank in buying intervention
there have been calls in congress to hold the rates at the 1987 level rather than allow them to fall next year
but now with the policy changes the debt is expected to remain above 40 billion dlrs although it could still be lower than the originally projected 418 billion dlrs he said
the us treasury said its weekly auction of three month bills produced an average rate of 598 pct with a 608 pct rate on six month bills
darman also worked on some other baker initiatives like the tokyo summit agreement to intensify coordination of economic policies among the leading industrial countries and the recent paris agreement to stabilise currencies and stimulate global growth
kidder peabody merrill lynch and smith barney co managed the issues
belgian ecu coin issue priced sale date set
bankers said the looming expiry of this commitment coupled with brazils freeze raised a spate of technical and legal questions that the banks want to discuss with gros
separately carroon said it also completed the acquisition of rosskopf rapp and schmidt insurance agency based in el monte calif
cayuga savings bank cayb 1st qtr net
yesterday two small companies specialised in the transport of chemicals global and flumar struck a pay accord with their seamen who have secured a 120 pct increase
shr 15 cts vs six cts net 1410000 vs 550000 revs 6901000 vs 2392000 avg shrs 10326000 vs 9064000 note prior qtr per share figure adjusted for two for one stock split of february 27
durable goods inventories rose 14 pct to 36613 billion in january dlrs while nondurables inventories were up 02 pct from december levels to 22607 billion dlrs
they said this was despite the fact that the commission accepted over 785000 tonnes of sugar into intervention yesterday from traders protesting that rebates are being set too low
western economists said mikulics remarks taken with those of his ministers could be a signal some problems were seen ahead in financing the debt repayments
bank of japan governor satoshi sumita said it is in japans national interest to make greater efforts to reduce its trade surplus
1986 sales were 798 mln dlrs
tokyo to issue 100 mln dlr bond in new york
shr 19 cts vs 32 cts net 586000 vs 802000 sales 142 mln vs 151 mln avg shrs 3006372 vs 2506250
producers are taking measures for increasing their production when the prices are profitable he said
however some eurosterling dealers noted the bonds could soon fall back marginally if as expected professionals stepped in to take profits at current healthy levels
between july 1 last year and january 31 britain bought 274665 tonnes against 642800 tonnes onic figures showed
in the first two months quaker opened about 25 new stores
great american corp said preliminary findings by regulatory examiners of its ambank subsidiary will result in a first quarter charge of 141 mln dlrs and a writedown of 14 mln dlrs
alpha recently submitted a second offer to acquire the stock of american medical international inc ami at 22 dlrs a share in cash and securities which is still being considered by american medicals board pesch said
zack said ibps proposal included elimination of a two tier wage structure a 60 cent an hour wage cut for slaughterers and a 45 cent an hour wage reduction for processors
it is not connected with holdings plc
thailand exported 18367 tonnes in 1986 up from 17359 in 1985 pramual said
the other lead managers are arab banking corp bank of tokyo ltd and keb asia finance ltd
among finished goods gasoline rose 55 pct after a 157 pct january increase and fuel oil was up three pct in february after an 180 pct increase in january
the bond is available in denominations of one mln yen and will be listed in luxembourg
cpc said it expects no material gain or loss this year from the transaction
shr 87 cts vs 84 cts net 4186 mln vs 3992 mln revs 312 billion vs 289 billion nine mths shr 261 dlrs vs 262 dlrs net 125 billion vs 123 billion revs 910 billion vs 862 billion avg shrs 4814 mln vs 4736 mln note share adjusted for three for two stock split in february 1987
qtly div 22 cts vs 22 cts prior pay april 10 record march 30
our position with respect to the dollar goes back to the paris agreement that the currencies were within ranges broadly consistent with underlying economic conditions baker told a senate committee
however he said that both problems were cleared up during both afternoons and there was no evidence of any reserve impact
saab scania issues 150 mln dlr eurobond
first interstate the fourth largest california bank and the nineth largest nationwide owns 24 banks in 12 western states and has franchise operations in four additional states
reserve bank policy has also reflected the increased interest in investment in australia and the need to shield japanese investors from rapid currency fluctuations
a recent study by morgan guaranty trust co says taiwan and south korea are the most pressing trade issue for the us while hong kong and singapore run trade surpluses with the us these are offset by their deficits with other countries
summit resources ltd year net
the effect was to freeze some potential new homebuyers out of the market he and others said
we need some kind of market loan he added
the most recent bond on the list was issued in 1985
nashua corp said it signed a letter of intent to purchase lin data corp a private manufacturer of high capacity rigid discs for storage of computer data
the company also announced the formation of rare tech minerals inc a wholly owned subsidiary
cattle slaughter is guesstimated at about 120000 to 126000 head versus 120000 week ago and 124000 a year ago
us agriculture undersecretary daniel amstutz said it is possible to reach a global agreement to scale back agricultural supports in calendar 1988
landmark savings association said it completed the sale of its whitehall pa office including deposits of about 31 mln dlrs to parkvale savings association
proceeds will be used to refinance certain long term debt reynolds metals said
though some liquidity from bills bought on thursday flowed back into the market today the bulk would not return until tomorrow the start of the new month dealers said
the latest growth forecasts are well below a 15 to two pct growth figure seen by the cpb early last month and forecasts of 25 pct economic growth in 1987 made last september
in 1986 the companys capital spending totaled 710 mln dlrs
cambio la guiara operated in part on the parallel market in which traders buy and sell dollars among themselves
pittston said described wtc as a fast growing air freight forwarding company with operations throughout the world
qtly div 11 cts vs 10 cts prior pay may 14 record april 17
vbi corp a british west indies investment firm told the securities and exchange commission it raised its stake in france fund inc to 1075700 shares or 143 pct of the total from 896500 shares or 119 pct
the mortgages in the pool are endowment linked residential mortgage loans and the entire pool is insured by sun alliance and london insurance plc
thoratec laboratories corp year loss
nspa gave the following breakdown of the soybean crush for the week with comparisons in 1000 bu 4 08 87 4 01 87 year ago illinois 2576 3479 x ind ky ohio 3586 3376 6053 y south east 3871 3791 3058 south central 1631 1934 1563 south west 2426 2334 2183 iowa 3450 3550 2815 minn nd sd 1875 1651 1488 total us 19416 20115 17160 x ill not reported exclusive of ind ky and ohio in year ago period
the major french bank said it sold yen at a rate of 14928 against the dollar
macandrews and forbes group inc said it began an 1850 dlr a share cash offer for all common stock of revlon group inc it does not already own
us sells 3 mo bills at 547 pct stop 548 pct 6 mo 551 pct stop 551 pct
these agreements together with others for argentina and we hope brazil should assure substantial new loans this year mulford said
a military spokesman quoted by the official iraqi news agency said platforms at the field were reduced to rubble he said attacks on the field 55 miles northwest of irans kharg island oil terminal were carried out at 0600 gmt
analysts said they do not believe a much higher offer could be made for american medical
osullivan corp osl 1st qtr net
spc earlier announced its pump prices of 968 cents and 906 cents for 97 and 92 octane respectively for 015 gm lead petrol which is being sold in singapore from today in line with the ministry of environments regulations
frost and sullivan inc frslo 3rd qtr
however the company said its furniture and tire operations are more profitable this year than last year
triguna set up in 1982 is owned 40 pct by mhi and 25 pct by c
us oil dependency seen rising to record level
the trade bill forces the administration to act rapidly on complaints of unfair trade practices such as dumping products in the united states at prices below cost of production
bank of china has taken a stake in luxembourg based finance company baii holdings sa a spokesman for baii said
central bank president jose luis machinea said argentina may not receive the 215 billion dlrs in bank loans it is seeking until september which would be a year after negotiations began with the international monetary fund
haitian cane planters protest sugar mill closure
under the paris accord tokyo promised a package of measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and cut its trade surplus
uni marts immao acquires gas n all stores
moodys investors service inc said it may downgrade 12 billion dlrs of debt of chrysler corp and its units including chrysler financial corp
extra heavy crudes were among those left out
the additional guidelines proposed today would determine the amount of capital support required for a banks current exposure for a given asset and the potential future exposure
computer horizons chrz in acquisition
shr 91 cts vs 17 cts net 124100000 vs 21200000 sales 283 billion vs 222 billion nine mths shr 247 dlrs vs 202 dlrs net 337400000 vs 294200000 sales 798 billion vs 633 billion avg shrs 136700000 vs 142500000 note 1986 earnings include a loss from discontinuedoperations of 503 mln dlrs or 35 cts a share in the quarter and a gain of 212 mln dlrs or 15 cts a share in the nine months
weis markets wmk in three for two stock split
it said the drop in crude oil and natural gas liquid reserves reflected downward revisions of previous estimates caused by the sharp drop in oil prices last year
live hogs and frozen pork bellies rallied on the chicago mercantile exchange while cattle ended lower
these agencies included the office of management and budget and the departments of interior and commerce he said
its certainly not a disastrous crop at this stage but it might be in a month without some good falls he said
oakite products inc okt 1st qtr net
bmc industries inc bmc 4th qtr loss
the ida loan will support a project that hopes to preserve the countrys natural forests and meet its demand for wood products by rehabilitating ugandas forestry management agency the bank said
countries dont get very serious about negotiating until the end of the day which is maybe five or six years in the future he also said he did not consider the new us congress as protectionist as it was 18 months ago
eurostat noted output growth also fell in the us and japan
the issue would be designated 8 3 4 pct treasury loan 1997 b a further 100 mln stg was reserved for the national debt commissioners
interest rates on time deposits of more than 600 mln yen were decontrolled by the finance ministry last september
the dry period means the temporao will be late this year
kuwait sees opec output over ceiling to end year
prior qtr and nine mths include pretax gain of 73 mln dlrs from damages paid by republic of iran and pretax gain of 40 mln dlrs from change in companys ownership in ing c
nor did it specify if the sources were official or other contacts
standard and poors corp said it downgraded 17 billion dlrs of debt of united technologies corp and subsidiaries
results will be announced on tuesday
the congressional budget office cbo the nonpartisan budget analysis arm of congress said federal loans or loan guarantees would be preferable options for congress rather than increased trade protection which could lead to foreign retaliation
stop and shop cos shp in two for one split
french intervention rate cut likely dealers say
french 13 week t bill average rate falls to 737 pct from 769 pct official
the united states wants taiwans currency to appreciate faster to reduce taiwans trade surplus with the us a senior trade official said
if accepted by the consumer and producer members of the ico the formula could also be a basis for negotiating a new agreement van horick said
texas eastern tex unit files for new rates
wiehn said incoming orders in the first five months to end february totalled 250 billion marks compared with 204 billion for the same period in 1985 86
i suspect there will be further moves he said
he said industry estimates put the total reserves at the field at over one billion barrels but given the low gravity of oil the recovery rate would be expected to be around 20 25 pct
maxwell files suit to stop harcourt hbj 
they said stock levels could drop 13 to four mln barrels
sumita says further yen rise would adversely affect japanese economy
that means new drilling programs must begin no later than mid 1988 gaspar said
the resolutions will be considered at the april 9 annual and special meeting the company said
i know we cannot obtain complete decoupling in 1987 but we can at least move in that direction boschwitz said
us corn growers blast canada corn ruling
during the annual wintering period from february to april rubber trees shed their leaves and latex output is very low
wisconsin electric wtc offers preferred
per share amounts adjusted for 10 pct stock dividend paid june two 1987
it said the shantou photosensitive chemicals plant will issue three year bonds of fixed interest at 11 pct a year in denominations of 50 100 and 500 yuan
chrysler gets the jeep franchise and the new amc bramalea ontario plant and the new renault premier mid sized car and amcs sales will go up because buyers will have more confidence that the manufacturer will still be around to service the products glantz said
mauro said a 05 pct rise in industrial production in may came despite cutbacks in output in the auto industry where an inventory overhang still exists
the sale will raise the bill supply to 1500 billion yen
toshiba corp tsbat said it regrets its plan to enter the uk business facsimile and telephone market may be caught up in a diplomatic row over the position of cable and wireless plcs cawll in the japanese market
they said major japanese investors in the past two years are estimated to have held 50 to 80 pct of their foreign portfolios in us bonds but many have lightened their us bond inventory to as low as 40 pct
forum four ends beverly bev purchase deal
sarcinelli was reacting to suggestions that last months overall 3211 billion lire deficit which compares with aprils 2040 billion surplus could be linked to a may 13 decree abolishing obligatory non interest bearing deposits on foreign securities purchases
gaviria said the decline in coffee prices could mean a loss of 15 billion dlrs in revenues for 1987
the 050 cent a gallon price reduction brings suns heating oil contract barge price to 50 cts a gallon the company said
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
the american service board has approved the offer which is to be followed by a merger at the same price
britain angry over what it feels are moves to restrict cable and wireless role in the sector views the issue as a test case
maki said the us and japan will hold detailed discussions on each trade item as well as a new round of gatt trade talks at a meeting on april 20 in which us trade representative clayton yeutter will join
and sen
both the bonds and the warrants will be quoted on the paris bourse
polydex pharmaceuticals ltd polxfo 1st qtr
most of the cocoa readily available to the buffer stock is nearby in store material of malaysian and ivory coast origin
general partners asked shareholders to either vote against the proposals or abstain from voting on them
the thrift said the buyer is bac inc a corporation acting for certain unindentified parties
shr 817 dlrs vs 55 cts net 677 mln vs 45 mln revs 367 billion vs 354 billion year shr 1219 dlrs vs 2400 dlrs net 1011 mln vs 1990 mln revs 1433 billion vs 1335 billion note 90 pct owned by ford motor co f
but in response to questions oakley acknowledged that trade will be discussed
in 1986 the company earned 4513 mln dlrs or 221 dlrs a share on revenues of 349 billion dlrs
the french government has limited cgct participation by foreign companies to 20 pct and set a price of 500 mln francs for the whole company
nomura urged the government to take pump priming measures to help redress trade imbalances and boost employment
shr 290 dlrs vs 144 dlrs net 8862000 vs 4391000 revs 2216 mln vs 2653 mln note translated from italian lire in us dollar equivalents at the exchange rate prevailing at dec 31 1986
also pending is a bill extend the life of the national commission on dairy policy
cbt traders look ahead to spring plantings
he cited several factors which will prevent an elimination of the deficit
venezuela seeks flexibility from banks azpurua
great american mgmt gami has atcor atco stake
it reported clothing stores were the most optimistic with 80 pct expecting sales in march to be higher than a year ago
the seasonally adjusted index for input prices showed a 02 pct rise between february and march
he said in a statement the idea with the foreign banks is to obtain from them the best terms to give the ecuadorean economy a complete relief in the period of deferral of payments on the foreign debt during the present year the statement referred only to payments due to private foreign banks a senior government finance official told 
the issue to be made at par carries a placing fee of 20 basis points and will be listed in vienna a laenderbank official told 
the measures therefore aimed clearly at bringing monetary growth back onto the desired path he said
diamond shamrock corp dia owns 803 pct of diamond shamrock offshore
in some of the most seriously affected districts the maha october 1986 april 1987 crop had been almost completely devastated the letter said
presidency minister patricio quevedo said in a televised address that the budget would be cut by five to 10 pct government hiring would be frozen and salaries of top officials including the president and cabinet would be reduced
advanced systems inc asy 2nd qtr april 30 net
the warrants are exercisable from may 18 1987 until april 13 1992
a study commissioned by one of the main supporters of the secondary market idea the american council of life insurers concludes that the farm credit systems market share in rural lending would fall if a secondary market were established
iowa beef processors inc is lifting a lockout at its dakota city nebraska processing plant and plans to resume operations march 16 united food and commercial workers union spokesman allen zack said by phone from his washington dc headquarters
consolidated freightways inc cnf 3rd qtr net
but he told reporters he did not think the ec would impose the tax because of objections from the us theres just so much flak coming from many countries spearheaded by the united states whose soybean exports would be adversely affected
instron corp isn sets quarterly
the company said the purchase price is subject to adjustment and the entire transaction is subject to approval by the us bankruptcy court for the central district of california
rjr nabisco inc is raising 500 mln dlrs via an issue of sinking fund debentures due 2017 yielding 8 3 4 pct said lead manager shearson lehman brothers inc
american meat packers see japan as a promising market
previously the company had paid a 7 1 2 cent per share quarterly dividend on one class of common stock
the european community commission today appointed its chief spokesman hugo paemen as its top official in charge of multilateral trade negotiations a commission spokesman said
international monetary officials will rush to paper over the deep cracks that have appeared in the louvre accord on currency stability to prevent a dollar free fall and to calm turmoil in world capital markets economists and currency traders said
we feel it is a profitable business with good growth potential and we now want to stay in it if we can get the right management de groote said
to a large extent these writeoffs of the carrying value of assets is really just the bookkeepers catching up to what the stock market has been telling us for a long time reflecting the collapse in oil prices peters and co ltd analyst wilf gobert said
attorney general edwin meese said he saw some benefit in the proposed purchase of american motors co amo by chrysler corp c in that it would return the smallest of the us auto manufacturers to american hands
dauster said he would talk to producers exporters and market analysts before taking any decision on export policy but any future policy would be flexible and adjusted to market conditions
a chrysler spokesman told that the letter of intent signed with renault amcs controlling shareholder with a 462 pct direct stake includes a provision for renault to be paid 35 mln dlrs in cash for amcs finance subsidiary and 200 mln dlrs in the form of an eight pct note
the issue is partly paid with only 20 pct of the payment due on april 23 and the remainder due october 23
new high technology semiconductors are used in supercomputers which are faster and more powerful than existing computers
the government has sacked about 20000 miners from its deficit ridden corporation since the collapse in the international price of tin
willis faber plc wifll will make an agreed 3026 mln stg offer for fellow insurance broker stewart wrightson plc a joint statement said
end of quarter demand pressures are pushing up the funds rate
this is in line with the governments policy to limit our trade surplus with the united states to help reduce trade friction between the two countries the official said
some gulf sea captains were reported to be steering well clear of irans silkworm missiles however and frontline emirate kuwait redeployed air defences to counter the threat
the stock amounts to 1462000 shares and most of it was reported in an earlier 13 g filing
peschs first offer for american medical was made without an investment banking firm another cause for concern to wall street
dumez said it will proceed to acquire the remaining common shares to give it 100 pct ownership of westburne
shr 15 cts vs 14 cts net 614000 vs 449000 revs 4186000 vs 4124000 avg shrs 4131000 vs 3321000 year shr 47 cts vs 42 cts net 1768000 vs 1394000 revs 150 mln vs 125 mln avg shrs 3799000 vs 3324000
he said there were indications now that the trade deficit was beginning to level off
south korea will cut import taxes on 50 goods including construction equipment cigarettes and tobacco to help reduce its trade surplus with the united states the finance ministry said today
peter nicol analyst at chase manhattan bank said opec production could be about 185 190 mln in october
stone said it will proceed with its previously proposed acquisition of southwest
lloyds bank plc said it is cutting its base lending rate to 105 pct from 11 pct effective tomorrow
shr primary 9530 pesos vs 2971 pesos shr diluted 6111 pesos vs 1849 pesos qtly div 125 pesos vs 125 pesos net 19 billion vs 779 mln revs 61 billion vs 47 billion note full name philippine long distance telephone co
six major nations britain canada france japan the us and west germany agreed in paris last month to act together to hold currencies stable
the kansas city board of trade kcbt has asked federal futures regulators to modify a proposal to raise the chicago board of trades cbt speculative position limits on wheat futures contracts saying the plan would put the the kansas exchange at a serious competitive disadvantage the commodity futures trading commission cftc last month proposed raising cbt wheat speculative limits to 1200 contracts all months net from 600 contracts and to 900 contracts for any single month from 600 contracts
the bond is available in denominations of 1000 and 5000 dlrs and will be listed in luxembourg
iran says it will combat gulf intervention
oper shr profit nil vs loss nil oper net profit 671000 vs loss 138000 sales 1043 mln vs 708 mln avg shrs 1012 mln vs 668 mln year oper shr profit six cts vs profit five cts oper net profit 6309000 vs profit 5144000 sales 3498 mln vs 3034 mln avg shrs 850 mln vs 763 mln note net excludes discontinued operations nil vs gain 196000 dlrs in quarter and loss 293000 dlrs vs gain 407000 dlrs in year
israel tenders tonight for corn and or sorghum
extracts from opec communique
he said the steering committee wanted only to discuss some aspects of the request while argentinas negotiators were laying emphasis on a global pacakge
morgan guaranty ltds hong kong office will act as dealer for the australian dollar issues
network video inc nvid 3rd qtr feb 28 net
essentially it is a flat performance said warren jestin deputy chief economist at the bank of nova scotia
in the paris currency accord japan promised a package of economic measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and thus reduce its trade surplus
total export volume fell 12 pct quarter on quarter in october december
however in general plant development was at least three weeks or more behind normal this spring and conditions varied greatly by regions the report said
hoechst ags hoechst celanese corp subsidiary said it plans to raise about 500 mln dlrs in us capital markets in three to four months
sudan which owes the imf 450 to 500 mln dlrs in arrears is scheduled to hold fresh talks with the fund in late july or august on reforming its economy and clearing arrears
latest monthly m 2 and m 3 data showed that as of may both measures were growing at rates below the bottom of the feds 5 1 2 to 8 1 2 pct target ranges
earlier carson reported yearly per share earnings of 183 dlrs down from 186 dlrs a year ago
canadian petroleum association technical director hans maciej sees industry cash flow falling another 10 pct in 1987 after dipping about 60 pct last year
africas total external debt was estimated at 175 billion dlrs at the end of 1986
describing the 15 billion dlr assessment as nebulous one diplomat said it also included losses of hypothetical orders and setbacks to polish research through the curbing of scientific links and exchanges
bil executives were unavailable for comment
genetics institute inc and wellcome plc a british based pharmaceutical company jointly announced the selection of a site for their joint venture welgen manufacturing inc formed last september
colombia has sold an average of 900000 bags per month since the beginning of the calendar year
the yield on 30 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama rose by more than 1 8 point to 595913 pct from 579348 a week ago bankers said
the japanese have complained that they have been honoring the semiconductor pact but that it would take time before the results showed up
but the future rate of decline is very much a function of world oil prices and us government policy lichtbalu said that tax breaks could be used to raise oil production but would only work over time
shell has not released projected output levels for the field where water depth is 240 270 meters
bhf unit issues 30 mln australian dlr eurobond
officials said the hectarage planted to palay that has been hit by the drought accounted for only one pct of national total thus the damage is considered negligible
lyng says india food aid package not ready
project financing and technical assistance loans fell to 1757 mln islamic dinars in the year ended last september from 2694 mln the previous year
neti technologies inc said it has sold for over four mln dlrs us in cash notes and the assumption of liabilities its huron leasing inc subsidiary to a group of investors headed by a former huron executive
the bank of japan stepped up its dollar buying as it re entered the market after the midday tokyo lunch break dealers said
api says distillate gasoline stocks up in week
domestic costs have increased due to inflation and exporters have not had the same offsetting movement in exchange rates roldan said
any threat to oil supplies would stem from an increase in the number of tanker attacks as part of a widening of gulf hostilities analysts said
century telephone enterprises inc said it has accepted an offer to sell its cable television properties in michigan tennessee florida arkansas and louisiana for a substantial gain
anheuser busch bud debentures issued
wti now 1900 dlrs
c sales made on exporters own account
rumors had circulated through the market this morning that usda had widened texas gulf differentials in a similar manner to last weekends adjustments with the louisiana gulf
synthetech inc said it discontinued negotiations on acquiring southwest photo chem inc of pomona calif
he told a radio interviewer he saw no reason to revise his target for 1987 after the february monthly result of between 01 to o2 pct following a 09 pct rise in january three pct year on year that forced the government to revise an earlier target of two pct to a current 25 pct
canadian negotiators agreed to levy the new tax if a us forest industry lobby would drop its request for a countervail duty on imports of canadian softwood lumber
the buffer stock system of price differentials set according to quality and a 15 pct limit on purchases from non members could limit the buffer stocks scope for action dealers said
it is one of the proposals objectives to maintain current import levels he said
in paris on february 22 six nations britain canada france japan the us and west germany pledged to cooperate to hold their currencies stable
harcourts special dividend pays 40 dlrs per share in cash plus a security worth 10 dlrs
they the ministry dont want to see cable and wireless with a reasonable share and they think of all sorts of strategies to reduce that share one said
rochester telephone rtc to buy canton phone
this is reflected in their interim results which showed that profit margin has increased said frederick tsang of mansion house securities fe ltd
david pryor d ark said he was considering amending the senate finance committees trade bill with a provision to require a marketing loan for soybeans corn and wheat
aaa rated auto paper was trading about 75 basis points over treasuries when first boston priced the deal one said
it is a lot more than nothing
brazil wanted to maintain the previous export quota shares under which it was allocated 30 pct of world coffee exports but consumers and a small group of producers pressed for shares to be redistributed using objective criteria which would have threatened brazils share
the partnership that made the first offer for comdata was welsh carson anderson and stowe
fcs laboratories fcsi terminates deal talks
the non callable bonds will be listed in luxembourg and will be issued in denominations of 1000 and 10000 dlrs
moodys investors service inc said it lowered minnesota power and light cos 490 mln dlrs of debt
shr profit one cts vs loss three cts net profit 641000 vs loss 992000 revs 260 mln vs 190 mln six months shr profit six cts vs loss six cts net profit 28 mln vs loss 18 mln revs 390 mln vs 374 mln note1987 six months includes gain of four cts from change in accounting principle
lawson repeats he is content with sterling level
acreage for harvest 95700 acres vs 95800 acres estimated previously
more british gold articles hallmarked
analysts said utilization could have remained unchanged or rose or fell by less than one pct for the week ended march 27
the western europe north america and far east regions developed well in local currency but here too the translation of local currency sales into marks distorted the picture especially in the case of north america it said
salomon brothers international inc said it has raised the size of its collateralised mortgage obligation trust 23 to 350 mln dlrs from the 228 mln dlrs announced yesterday
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
as a result of the tender now owns about 49 pct of instinet shares
the withholding tax was intended to plug one gap by raising 43 billion marks
if japanese investment in us securities does materialize at the start of japans fiscal year domestic funds may also flow into the bond market he said
they said ali ibrahim rubaishi head of organisation planning in petromin would take over as acting governor
first bostons analyst was unavailable for comment
and despite rising industrial investment and the introduction of special incentives to boost youth employment the end 1986 number of jobless was reported at a record 27 million some 300000 more than a year earlier
providence energy corp said it completed the purchase of north attleboro gas co
but like everything else theres a catch
however differentiated policy treatment is required to take account of large disparities in the situation around the ec he said
the bank said net income of its standard bank of south africa subsidiary declined 82 pct in 1986 to 1123 mln rand in a difficult banking environment caused mainly by low credit demand
dwg corp said it has completed the previously announced sale of its texsun corp subsidiary to texsun corp subsidiary to sundor brands inc for 275 mln dlrs and the assumption of liabilities
the two firms are the biggest private sector employers in surinam
it declined to provide further details
others however were more optimistic saying evidence was already in hand that japan has cut back prodution and halted sales to the grey market the third country brokers that sell chips at below production costs
the policys main objective is to fully meet the credit requirements of agriculture industry and exports while preventing excessive monetary expansion bank governor rn malhotra told an earlier meeting of chief executives of banks
affirmed were chryslers baa 1 senior debt and chrysler financials baa 1 senior debt baa 2 senior subordinated debt and baa 3 junior subordinated debt
ubs bid the gte debentures at 970025 and set a coupon of 8 1 2 pct and reoffering price of 9750 to yield 112 basis points over the off the run 9 1 4 pct treasury bonds of 2016
de keersmaeker who chaired a meeting of ec farm ministers which ended today was asked about reports enough countries were against the tax to ensure that it would be defeated in negotiations on the ec farm price package for 1987 88
the company said prepayment provisions will make the average life about seven years
metromail corp said it expects earnings for the year to be about flat due to higher expenses caused by an expansion of data processing capabilities and startup costs associated with new cooperative programs that will continue into the fourth quarter
general instrument corp grl 4th qtr loss
the decision by the cement makers federation to end the pricing agreement reflected pressure from higher competition due to growing imports and the possibility that the system would be taken to the restrictive practices court by the uk government
doe alleged trigon caused overcharges of 624208 dlrs by improperly classifying its oil as newly discovered crude a classification that allowed charging higher prices during a period of price controls
he said china aims to produce between 425 and 450 mln tonnes of grain by 1990 up from a target of 405 mln this year and an actual 391 mln last year
its pure market speculation that boone pickens and his group may be interested feretti said
union to protest darts supermarkets sgl bid
genetech inc geneo is issuing a 100 mln dlr convertible bond due march 30 2002 with an indicated coupon of five to 5 1 2 pct and an issue price of par credit suisse first boston csfb said as lead manager
in a filing with the securities and exchange commission the partnership flf associates said it sold 10000 shares of serier e convertible preferred stock on march 26 for 34125 dlrs each and 5000 shares of preferred stock on march 27 at 3525 dlrs each
ldbrinkman ldbc chief cuts cenergy crg stake
zoran was founded in 1981 and now has about 100 employees he said
standard and poors corp said it downgraded first interstate bancorps 13 billion dlrs of debt because of higher levels of non performing assets
schlesinger today repeated the bundesbanks reluctance to cut its official interest rates further
sept 30 end shr loss 38 cts vs loss three cts net loss 3300000 vs loss 205000 revs 634 mln vs 721 mln avg shrs 8966000 vs 9741000 note 1986 first quarter results include 398000 gain from repurchase of debentures that had been discounted below market value
sg warburg securities is the other co lead manager
tin traders response muted to kl futures market
however some dealers said london based operators would be unlikely to open major positions next week ahead of the long easter weekend
i wouldnt be surprised to see a fall off in march especially since sales probably wont be boosted by auto sales as they were in february despite the weak underlying trend economists were impressed by a robust 15 pct gain in total sales excluding autos in february
msuya said the government expected to spend 7733 billion shillings in the financial year 1987 8 39 pct more than this years estimate
the company said it will again seek buyers for the unit and its library of over 750 films
the package presented to the cabinet of prime minister jacques chirac by social affairs and labour minister philippe seguin today is to be financed out of a 75 billion franc contingency fund announced on february 25
they said the taft board did not conclude that their offer was not fair to taft shareholders
centel cnt completes acquisition
but pressure for their introduction here is growing
his comments were seen as possibly indicating what the the administrations position is in the debate over what should be done to make soybeans competitive and at the same time protect soybean farmers income
the exchange said harcourt brace is a replacement selection for ltv corp
consul officials told an analysts meeting that in return for each 1000 dlr face value of the bonds tendered investors will receive 10 shares of preferred stock convertible after dec 1 1987 into 500 shares of common
cra ltd 1986 net profit 1382 mln dlrs vs 878 mln
nationwide mutual insurance co said its property casualty companies had a net loss of 56 mln dlrs last year while its life insurance operations earned 668 mln dlrs
assets of money market mutual funds increased 139 billion dlrs in the week ended yesterday to 23677 billion dlrs the investment company institute said
they include one billion ecus in loans from the european investment bank the ec long term financing arm
bankamerica corp chairman aw clausen said the bank holding company is turning around and is back on the road to profitability
shr loss 694 dlrs vs loss two cts net loss 220 billion vs profit 70 mln revs 155 billion vs 244 billion note 1986 shr and net include writedowns totalling 208 billion dlrs before a reduction in deferred income taxes of 571 mln dlrs
i think we are progressing very well he told reporters
reducing the federal government budget deficit by expenditure restraint is needed to preserve the low marginal tax rates achieved by tax reform he said adding that a vote to increase to government expenditures is a vote against tax reform sprinkel said the fall of the dollar had substantially restored us cost competitiveness and that the deterioration of the us trade balance appeared to have abated
an additional 175 headed of dairy cattle for still available to the canary islands under the export enhancement program initiative announced july 28 1986 it said
under the program usda pays farmers annual rents to take land out of production for 10 years
proceeds will be used to redeem the companys outstanding 11 3 8 pct subordinated debentures due 1998 and repay all long and short term notes payable to banks as well as for working capital essex chemical said
the planned psbr for 1987 88 was 40 billion stg unchanged when compared with the likely outturn for fiscal 1986 87 lawson said
jardine gained a direct holding of 35 pct of dairy farm as a result of the spin off
miyazawa says exchange rates will stay stable
shr 86 cts vs 99 cts net 435610 vs 497160 sales 166 mln vs 177 mln note 1986 year net penalized 13 cts shr from loss of investment tax credits
bullet loans have attracted considerable foreign demand but have also given rise to worries their fixed repayment date might interfere with intricate redemption schemes built up around previously issued split maturity bonds dealers said
hog and cattle slaughter guesstimates
comdata said it may terminate the agreement if financing is not arranged by april three
iran says it intends no threat to gulf shipping
other trade issues being discussed in the current gatt round include reform of trade in merchandise and services
geodyne resources inc said iit filed a registration with the securities and exchange commission covering a planned offering of 36 mln warrants to buy its common
chairman charles strang and wayne jones vice president for strategic planning are meeting with portfolio managers in new york and boston to line up interest for the offering underwritten solely by morgan stanley the officials said
yeutter sees gatt consensus on farm trade reform
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 dls 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
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a shortage of around 950 mln stg in the money market today
ecuador is seeking between 437 and 450 mln dlrs in loans this year from multilateral organisations and foreign governments to grapple with economic losses from a devastating earthquake 13 days ago a presidential economic adviser said
but goodyears independence was preserved at a high price mercer said
analysts agreed that investors liked the repurchase program but they differed sharply over the carmakers long term prospects
rooter said the agreements were rescinded din light of this additional information without providing details
currently the tax credit is calculated against a banks profits as a whole
the final amount of the issue depends on market conditions but will likely be close to 400 mln dlrs the spokesman said
mexican supplies which have sometimes swelled lme stocks have been normal but are finding ready buyers traders said
in 1988 douglas said dean should experience a 20 pct improvement in our bottom line from effects of the tax reform act alone president howard dean said in fiscal 1988 the company will derive benefits of various dairy and frozen vegetable acquisitions from ryan milk to the larsen co
the center south crop is now estimated at 550000 tonnes 25000 tonnes below the previous estimate
in a related action the agency changed to possible downgrade from uncertain the direction of its current review of borg warners 12 billion dlrs of debt
at this weeks session the council elected philip sparkes of australia as first vice chairman for the producing members and heinz hofer of switzerland as second vice chairman for the consumers for the year from july 1
the fact the dollar plunged below 150 yen does not mean anything significant under the floating system he said
were happy about our long term future malaysian growers said they would try to expand sales in asia and the united states if malaysian cocoa was not suitable for european tastes
vishay vsh sets two pct stock dividend
us t bond futures gained half a point in the few minutes after news that the us non farm payroll rose more slowly than earlier believed over the last two months dealers said
quest said the agreement also offers alza the right to acquire up to 25 pct of the units equity in exchange for the acquisition of patent rights to alza technology in an area where quest has an interest
the common stock price was down one dlr to 51 1 8 after the first hour on a volume of over 500000 shares
westpac banking corp in new zealand said it will increase its indicator lending rate by 15 percentage points to 225 pct from april 7
rothschild holdings plc it said ronald j
unequivocal glickman said at the hearing
standard and poors rates all of the securities aaa
the administration has strongly urged that the bill be expanded to feedgrains and to more than one year
ford f march us car production up
proceeds of the sale will be used in the continuing expansion of the gallaher group
they said this is the first capped frcd issue in hong kong
in march 1986 the figure stood at 24 pct
i dont think we should change our economic outlook at the moment sumita said
the sources said the ratings were lowered to m from o plus
the following proposed securities offerings were filed recently with the securities and exchange commission mississippi power co subsidiary of southern co so shelf offering of up to 200000 shares of 100 dlr preferred stock
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
insituform group ltd of guernsey channel islands said it has exercised an option to convert a 250000 stg loan to affiliate insituform permaline ltd to common shares raising its stake in the unit to 75 pct from 50 pct
the company said as a result of recent investments most of its assets now are located in the united states
on april 2 the board sanctioned the repurchase of the sequestered shares for 479 billion pesos at 126 pesos per share
in addition ansett would gain one board seat he said
a decision on final dumping duties on frozen orange juice from brazil may not be issued until tomorrow commerce department officials said
the bonds are non callable and payment is april 29
a bank official said m 3 rose 972 pct to a provisional 14980 billion pesos at the end of december from a month earlier for a year on year gain of 1272 pct
chrysler credit canada ltd is issuing a 75 mln canadian dlr eurobond due aoril 15 1993 with a 9 1 4 pct coupon and priced at 101 1 2 pct orion royal bank ltd said as lead manager
the surprise escalation of attacks on oil installations broke more than a month long lull in iraqi air force action
the company also said it has agreed in principle to acquire privately held pat fashions industries inc for 18 mln dlrs in cash and notes with financing to come partly from bank borrowings subject to approval by the pope evans board and pat shareholders
uk project expenditure in 1986 rose to 208 mln stg from 184 mln while exploration expenditure dropped to 87 mln from 156 mln
italys state owned ente nazionale per lenergia elettrica enel is issuing a 15 billion yen eurobond due may 27 1994 paying 4 3 4 pct and priced at 101 7 8 pct joint lead bookrunner ibj international ltd said
price declines were recorded for meat products lumber and motor vehicles
stewart wrightson shares rose to 576p at 0835 gmt from a suspension price of 499p
a taiwanese banker saidit will be a good idea for our banks to take part in the loan if we want to start in the international lending market
madagascar negotiating 180 mln franc french loan
the us mint said it is seeking offers on 4784000 lbs of special high grade zinc that it intends to purchase
the dollars steep fall stems from the markets belief that the trade imbalance will continue to expand he said
shr 16 cts vs 13 cts net 1900000 vs 1600000 sales 682 mln vs 696 mln nine mths shr 60 cts vs 43 cts net 7100000 vs 4700000 sales 2140 mln vs 2195 mln
its foreign reserves ended 1986 at 35 billion dlrs equivalent to more than nine months of imports and non financial services and gdp growth is again expected to reach five pct this year gaviria said
the merger is still subject to approval by shareholders of both companies
with the legal framework eased they became the de facto legal framework said bache securities japan analyst darrell whitten
it said manning has resigned as president in favor of myers and will service as vice president in charge of oil and natural gas operations
the easing of rules governing overseas use of the yen has caused an explosion of euroyen bond activity but has failed to turn the yen into a truly international currency bond managers and traders said
general mills inc reporting stronger results for the third quarter ended february 22 said it expects the momentum to continue in the fourth quarter
it looks good diaz said
qtly div six cts vs six cts prior pay may eight record april 10
but they joined wang in forecasting that the deal will not dilute computer associates earnings for the current fiscal year
ultramars marketing units include ultramar golden eagle ltd which in 1985 made a profit of around 14 mln stg before financing and group administration charges
im not in favor of sales to iran of advanced us technology shultz said
fed expected to set customer repurchases
terms were not disclosed
this weeks 100 mln stg offer of 91 day bills met applications of 327 mln stg the bank said
the balance of 14 mln dlrs will be paid as required by merlin for its exploration and production commitments it said
gencorp said in its statement earlier that it planned to put off the date its rights will trade separately from the common stock to april 6 from april 3
ncr said the increase in first quarter profit resulted from strong revenue growth which was particularly strong in europe and pacific marketing groups
qtly div six cts vs six cts prior pay april 28 record march 31
payment date has been brought forward to march 27 from march 30 and the bonds will mature on march 27 2002
foote which is 83 pct owned by newmont mining corp nem has signed a letter of intent to sell its cambridge operations and said it is in talks on the sale of its manganese operations with several companies
but the current system of floating currencies in which currencies can fluxtuate widely adding vast pressures to the monetary system is also being widely questioned
the philippines and its bank advisory committee completed another round of debt rescheduling talks and will meet again on saturday a senior banker said
argentine grain oilseed export prices adjusted
emhart corp emh qtly dividend
the bank austrias third largest raised its 1986 dividend to 12 pct of its 15 billion schilling nominal share capital from 10 pct on capital of 135 billion in 1985
up to another 67 billion dlrs worth could be issued between january and august 1987 according to usda
levitt corp said it filed with the securities and exchange commission a registration statement covering a 25 mln dlr issue of convertible subordinated debentures due 2012
todays surplus is seen at 480 billion yen mainly excess bank holdings due to big bank of japan dollar purchases on march 25
sosnoff said under the merger that would follow his tender each of the 2750000 caesars shares not covered by the offer or 76 pct on a fully diluted basis would be converted into series a preferred stock valued at 32 dlrs per shareby an independent investment baking firm
as a result elders oneill said there was much confusion many unmatched trades and large losses
share split four for one
period ended sept 27 shr nine cts vs 24 cts net 474000 vs 880000 sales 112 mln vs 118 mln avg shrs 5369555 vs 3654986 note 1986 figures include tax credits of 113000 dlrs or three cts a share
this mornings sharp decline in coffee prices following the breakdown late last night of negotiations in london to reintroduce international coffee organization ico quotas will be short lived dutch roasters said
harahap said indonesia would maintain its exports despite making recent palm oil purchases from malaysia so that it could possibly increase its international market share
anchor savings bank said it expects to start trading on the nasdaq system on a when issued basis on april seven under the ticker symbol abkr anchor recently went public in a subscription offering of 17595000 shares that was oversubscribed and increased by 2295000 shares from the number originally planned
adsteams managing director john spalvins will become chairman of markheath and two other adsteam nominees will join its board
pacific telesis group pacn of the united states also holds a 20 pct stake in one of the newly formed consortia international digital communications inc idc solomon said that both british prime minister margaret thatcher and us secretary of state george schultz have written to the japanese government about the planned merger
gencorp gained 3 1 2 to 114 today on the nyse
a federal reserve spokesman told a press briefing that there were no large single day net misses in the feds reserve projections in the week to wednesday
reagan says us allies must honor accords on exchange rate stability
dealers said they expect the six britain canada france japan the us amd west germany to meet just before the imf world bank interim committee meeting in washington starting on april 9
for this reason i have said that brazil will accept no monitoring by the imf in highly publicized talks with sarney near sao paulo last saturday several brazilian business leaders said they favoured a return to the imf arguing that it would make debt negotiations easier and bring new money into the country
american software amswa sets stock split
it also said sale volume of stretch film in the fourth quarter was lower than anticipated although it has returned to normal in recent weeks
non callable for two years the issue is rated b 1 by moodys investors service inc and b by standard and poors corp
this is not a topic which can be solved by creditor banks alone he said
shr 84 rupees vs seven pretax profit 6507 mln vs 5556 mln net profit 3907 mln vs 3256 mln sales 824 billion vs 707 billion div 34 pct vs 30 pct tax 260 mln vs 230 mln dividend payable on june 3 the company is 51 pct subsidiary of unilever plcthe full name of the company is hindustan lever ltd hinubo
but some heavy rain may have caused damage
shr loss 95 cts vs loss nine cts net loss 6882497 vs loss 513153 revs 113 mln vs 100 mln avg shrs 7251000 vs 6017000 note 1986 net includes 1600000 dlrs in increased provisions for uncollectible receivables from affiliates lower recoverable value of inventories and writeoffs of capitalized costs on discontinued projects 1700000 dlr provision for resolution of shareholder class action suit and gain 1300000 dlrs from repurchase of manufacturing equipment
franklin pennsylvania investors us government securities fund fund said its board declared an initial monthly dividend of 78 cts per share payable april 30 to holders of record april 15
canadas move to shorten debt terms aids market
canadas leading composite indicator rose 04 pct in january with eight of the 10 major components posting gains the most widespread monthly advance in the past year statistics canada said
among the recommended buys are schlumberger ltd slb halliburton co hal dresser industries di baker international bko and mcdermott international inc mdr which may be the target of a takeover by harold simmons a dallas based investor
bear stearns and co is expected to act as dealer manager for the offer it said
the following proposed securities offerings were filed recently with the securities and exchange commission norwest corp shelf offering of up to 100 mln dlrs of debt securities supplementing another 275 mln dlrs of debt securities which remain unsold from a previous shelf registration
the buffer stock will begin operations immediately he said
top executives with tenneco corp tgt and sabine corp sab said they expected world oil prices to gradually increase over the next two years as us reliance on imports of oil from the middle east grows
shr 37 cts vs 32 cts net 3892000 vs 2906000 sales 718 mln vs 645 mln nine mths shr 108 dlrs vs 91 cts net 10946000 vs 8206000 sales 2141 mln vs 1794 mln avg shrs 105 mln vs 91 mln
the bank of england said it provided the market with a further 68 mln stg assistance this afternoon bringing its total assistance on the day to 143 mln stg
s and p affirmed the companys a rated first mortgage bonds and a minus unsecured industrial revenue bonds
seaga yesterday concluded an agreement with jamaicas creditor banks to reschedule some 181 mln dlrs due in 1987 89 over the next 12 years
first granite which has 675000 shares outstanding as of dec 31 1986 had assets of 1865 mln dlrs
the catalogue should include all ccc stocks stored at terminals and about 50 pct of the stocks stored at country elevators the spokesman said
in 1986 new products introduced within the proceding 36 months accounted for more than 65 pct of our major equipment order activity he said
while there are pockets where irrigation is not possible most of the wheat crop has access to some water and therefore has emerged from dormancy and is doing well the report said
he said that with the move called a standstill arrangement brazil was only trying to avoid difficulties to pay its 109 billion dlrs debt in the future
the company said it intends to used the proceeds from the sale to redeem its entire 125 mln dlrs of its outstanding 13 pct subordinated debentures due 2000 with the balance to be added to the companys general funds
he added the cost of failure is beyond calculation
western diplomats and economists have said the chinese authorities are having trouble finding a suitable alternative
it also said the commission is now awaiting its public staff divisions report which will recommend how much of the 58 billion dlr investment pacific gas should be allowed to recover in rates
northern trust ntrs to increase prime rate
finance minister gustavo petricioli said he had signed yesterday a 250 mln dlr loan with the world bank to support the development of exports of manufactured goods
passenger car imports fell 600 mln dlrs because of an 18 pct decrease in the number of south korean made imported cars and a nine pct decrease from japan
dealers said that the rule would enable investors and secondary market makers to better evaluate the appropriate market price for their securities
the bank is also looking into joint ventures with manufacturing and trading companies segal added
the un common fund for commodities with a planned directly contributed capital of 470 mln dlrs has failed to become operational because neither the us nor the soviet union has ratified it
little risk seen for texas cotton from cold
uk money market shortage forecast revised up
he said that spread had averaged around 14 percentage points since last october until it fell below one point and triggered the april prime rate rise at most banks
the federal governments holdings rose 700 mln marks to 51 billion
bankers attacked the controls as ineffective saying they were a panic reaction to pressure from washington for faster appreciation of the taiwan currency against the us dollar which would slow exports to the united states
speaking at a news conference before a scheduled speech lyng said he did not think the tax which is still in the discussion stage would be approved
the commodity credit corporation ccc has reallocated 50 mln dlrs in credit guarantees previously earmarked for sales of us wheat to provide coverage for sales of us vegetable oil to bangladesh the us agriculture department said
activity has slowed primarily reflecting an inventory adjustment while unemployment has risen rapidly and inflation has reaccelerated the oecd said
pennwalt corp psm qtly dividend
the companies have a varying degree of urgency the ultimate impact of all these efforts by miti on the troubled us industry remains in doubt analysts added
faced with growing congressional protectionist pressure the us administration is pressing japan for speedy action to reduce its still huge trade surplus us officials said
chicago based amoco had 1986 revenues of 2023 billion us dlrs
first granite bancorp inc agrees to be acquired by magna group inc for stock
initials plus said it expects sales in the year ending january 31 1988 to exceed 10 mln dlrs
tridel enterprises inc year net
he told a press conference that the growth of japanese money supply remains high
exco chairman richard lacy told the acquisition was being made from bank of new york co inc bkn which currently holds a 501 pct and from rmj partners who hold the remainder
no figure was revealed for expenditure on defence and security
pubco said it will be entitled to redeem the rights at 01 cts per right at any time before a 20 pct position has been acquired and afterward in certain circumstances
polands winter wheat is likely to survive recent frosts but the impact of the cold will not be known until late april the polish meteorology institute said
the turkish central bank set a lira dollar rate for april 8 of 78450 78842 to the dollar down from the previous 78435 78827
corrects year ago comparison to 4545 mln from 5455 mln
lilly industrial coatings inc licia 1st qtr
we will probably bring the current account this year under 14 billion i think which will probably be about a billion dollars less than we forecast in the budget keating said
i certainly wouldnt tighten money at this particular moment regan said when asked about the prospects for a recession following mondays price drop on wall street
the issue has equity warrants attached and late in the day it was quoted on brokers screens at 106 1 2 bid only
most bank assets sold to hongkong bank of canada a unit of hong kong and shanghai banking corp in nov 1986
the company saiud the loss on the sale may be partly reduced by contingent payments over the next five years and will in the first quarter be more than offset by the gain from the previously announced sale of its hygeia sciences inc shares
commenting on an 11 pct growth in 1986 group turnover to 8304 mln stg and pre tax profits at 1208 mln stg slightly below 1985s 1213 mln egan said jaguar aimed at an average profit growth of 15 pct per year
us sees more harmony in talks with france
murray said in his report to shareholders that lower debt and our strong cash and marketable securities position improves mobils flexibility long term debt as of december 31 1986 was put at 79 billion dlrs down 15 pct from 93 billion dlrs on the same day in 1985
new zealand will continue firm monetary policy
lower bid minimums on outer continental shelf acreage to spur exploration
commercial union will be able to issue medium term notes in us dollars or sterling with the dollar notes listed in luxembourg while the sterling notes will be listed in london
work on greek alumina plant to start end may
bnp plans 100 mln hk dlr cd issue
the issue is an important one because congressional budget committees are known to be considering limiting the use of certificates as a means of cutting spending
sainsburys says it taking control of shaws supermarkets for 30 dlrs a share
caledonian airmotive repairs and rebuilds aircraft engines
the executives o
unadjusted the february deficit was 24 billion francs and the two month cumulative deficit 81 billion the ministry said in a statement
the level of investment for the proposed lowering of sulfur level of diesel to 005 pct by weight for example is unacceptable dunham said
on monday bally said it filed with the securities and exchange commission for an initial offering of 24 pct or 58 mln shares of the units common stock at 13 15 dlrs a share
in the last two years the value of the australian sharemarket has leapt 118 pct with turnover value up 152 pct to 3124 billion dlrs in the year to june 30 1986
turkey calls for dialogue to solve dispute
unfortunately successful adjustment to australias deep seated economic problems remains a long term process it said
oil stocks on land in the us and canada were put at 2066 mln tonnes on april 1 down from the 214 mln tonnes on january 1 and equivalent to 94 and 98 days of consumption respectively
usda accepted algerias bid of 9400 dlrs per tonne c and f for 50000 tonnes for nov 10 25 shipment and 25000 for nov 20 dec 10 the sources said
sarlen salnu completes private placement
ltv corp said pakistan ordered 180 military trucks and spare parts worth 185 mln dlrs from am general a unit of ltvs missles and electronics group
surplus on commission 2088 mln marks 1881 mln
the union representative said that the pact offered cost of living increases designed to keep pace with inflation but contained no wage increase
morgan guaranty sells first repackaged perpetual
the deal was quoted on the 1 7 8 pct total fees
aquino says growth has priority over debt payments
diamond shamrock corp said it will redeem may 29 the entire outstanding amounts of three separate sinking fund debenture issues
american home shield corp ahsc 4th qtr net
information minister marco lara told reporters the number of dead and injured is not known because we do not know how many people lived in the homes hit by the landslides bracho said at least 15000 were left homeless in the cayambe district
this is the first time we have been able to sell wood products in iraq he said
london gold morning fix highest since october
the bank of japan said it forecast japans broadly defined m 2 money supply average plus certificates of deposit cds will rise by about nine pct in the current april june quarter against 85 pct a year earlier
the bond matures on may 6 1992
leaf disease hits sri lanka rubber
cyclops has agreed to be acquired dixons group which has a 9025 dlrs a share tender offer for cyclops outstanding
michigan sealy has been in litigation against sealy alleging violations of antitrust laws and sealy was recently found liable for 45 mln dlrs in damages to michigan sealy
usda accepts offers for 550000 tonnes of bonus wheat for china
he said grain production is planned at 235 mln tonnes in 1988 compared with a planned 232 mln this year
the us initiative was introduced last december at a meeting held here under the auspices of the united nations conference on trade and development unctad the us the worlds largest copper consumer and second biggest producer after chile has proposed setting up a body to improve statistics and market transparency of the copper economy and provide a forum for discussion
on the output measure gdp rose an upward revised seasonally adjusted 03 pct in the fourth quarter of 1986 to 1149 on the output index from 1145 in the previous quarter giving a 32 pct rise over the fourth 1985 quarter the cso figures show
with these corn purchases japan is committed to buying 77 mln tonnes of us corn in 1986 87 sept aug nearly 400000 tonnes greater than year ago figures to date
net is equity accounted pre equity accounted net 3990 mln dlrs vs loss 4911 mln pre equity shr profit 71 cents vs loss 87 final div to be announced after july 1 vs first and final 10 cent
hodel said the loss of some domestic oil production through the shutdown of stripper 10 barrels a day or less wells because of low prices was probably permanent
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined
they said vast foreign currency reserves earned mainly from huge trade surpluses with the united states made taiwan a target for us protectionism
shr loss five cts vs loss six cts net loss 473784 vs loss 489257 revs 268797 vs 81725 avg shrs 9245247 vs 8035326 year shr loss 17 cts vs loss 20 cts net 1512534 vs loss 1553592 revs 1448310 vs 515225 avg shrs 8745132 vs 7619863
terms were not disclosed
glaverbel share offer over 100 times oversubscribed
the report said that indonesias overall economic performance in calendar 1986 was about zero or even a slight negative growth rate the lowest rate of growth since the mid 1960s
finance minister michael wilson is now reviewing canadas tax system and plans to announce tax reform proposals later this spring
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
kato added japan is the largest customer for us grain and depended on domestic output for only 53 pct of its food requirements in 1985
herrhausen said that no concrete measures were planned to place these shares and conclude the original placement
they were priced to yield 945 basis points over treasury securities of comparable maturity
alltel corp is raising 50 mln dlrs through an offering of debentures due 2022 yielding 890 pct said lead manager merrill lynch capital markets
crude energy materials were up 26 pct much less than the 10 pct rise in january
bernstein co inc said
i wish to emphasize that the growth in the volume of the external indebtedness of african countries reflects the full effect of the deflationary monetary and trade policies of the developed market economy countries mamman said
uk money market deficit forecast at 250 mln stg
in addition to the poor distribution of storage units there is the problem that too much of the capacity is geared to storing grain in sacks while not enough is suitable for storing loose grain brito said
production is set to begin in third quarter 1989
billion dlr debt burden this year are slim with coffee prices plunging oil prices up but still well below 1985 levels and interest rates beginning to rise
total liabilities in january were 1108 trillion dlrs compared with 1112 trillion dlrs in december
where is the leadership going to come from suddenly theres a terrible void one new york banker said
barreto said my objective is put epac into the tenders because it has a right to take part he added the government would be studying the court order to see whether or not the ruling could stop epac from participating in future tenders
pan am corp 4th qtr loss 1975 mln dlrs vs profit 2414 mln dlrs
novell inc novl 1st qtr jan 31 net
may said the center for disease control figures showed that between 1978 and 1982 chicken was involved in four pct of all us salmonellosis outbreaks while beef accounted for ten pct of outbreaks and dairy products six pct
panhandle pel trims take or pay exposure
in march last year the unadjusted unemployment total stood at 245 mln and represented 98 pct of the workforce
a request by four foreign banks to join the bond underwriting syndicate is being considered banking sources said
ministers from member states ecuador mexico trinidad tobago and venezuela are attending the two day conference while colombia is present for the first time as an observer
accruals of borrowings under the exchange cover scheme were 361 mln dlrs last month after 36 mln in february
canada okays vipont labs vlab toothpaste
dart said it was to fund up to five mln dlrs for top managements supplemental retirement plan
the bank did not disclose a forecast of the impact on future earnings by brazils suspension of interest payments
the company said had very few exploration wells committed for 1987 and therefore retains maximum flexibility in its exploration program
miyazawa said that yesterdays news of a 43 pct rise in us gnp in the first quarter had been expected
shr 18 cts vs 24 cts net 1175000 vs 1528000 sales 34 mln vs 346 mln nine mths shr 56 cts vs 112 dlrs net 3578000 vs 7040000 sales 1093 mln vs 1166 mln note 1986 figures include 508000 dlr gain or eight cts a share from discontinued operations
in order to rebuild the free trade system it is important for each participant to have domestic policies that will serve this end
brazilian bank workers voted to launch a nationwide strike this month compounding labour unrest arising from the failure of the governments anti inflation plan
in the end the compromise saved face for the banks
japan the biggest buyer of indian iron ore with imports of around 23 mln tonnes a year has asked india to reduce prices from the current average of 18 dlrs a tonne the sources said
neco enterprises inc said it has postponed its annual meeting to may 21 from the previously scheduled april 28 and the record date for the meeting to march 25 from march 11
ameribanc inc is raising 15 mln dlrs through an offering of convertible subordinated capital notes due 1995 with an eight pct coupon and par pricing said lead manager stifel nicolaus and co inc
sumita has said in the past that he expects the economy to show a gradual upturn in the second half of the year
it noted that an additional one mln tonnes of us corn had been bought recently by the soviet union
white house panel said urging japan retaliation
historical cost operating profit was 61 mln stg up from 16 mln
a gemina spokeswoman told we have nothing to say about the report a spokeswoman for milan based ambrosiano said we have no information at this time in february ambrosiano chairman giovanni bazoli said foreign and domestic firms have expressed interest in buying stakes in the bank
hall and co an insurance and brokerage firm said it has joined with risk science international to offer banks a new service that assesses their environmental risk level
trade credit lines were 880 mln dlrs in 1982 but fell in 1984 when peru stopped some payments to private foreign banks
under the pact nelson will have domestic home video rights and hemdale will be responsible for distribution in all other media
if approved the president of triton hendrik bokma will be nominated as chairman of the combined company
bp said in a statement the 70 dlr a share price was based on its own valuation as well as those of its financial advisers
volcker said that to improve the trade deficit with a minimum of inflationary pressure the united states would have to slow its spending growth
zambian copper industry hopes for steady output
shr 21 cts vs 18 cts net 1068000 vs 902000 revs 381 mln vs 297 mln avg shrs 5177000 vs 5120000 note shr reflects 2 for 1 stock split on june 9 1986
french operators have requested licences to export 675500 tonnes of maize 245000 tonnes of barley 22000 tonnes of soft bread wheat and 20000 tonnes of feed wheat at todays european community tender traders said
paribas will also seek authorisation to issue bonds convertible at any moment into ordinary shares which would boost capital by a maximum of five billion francs and up to ten billion francs nominal of bonds redeemable into ordinary shares
morgan grenfell group plc 1986 year
they normally try to do things before the iggi inter governmental group on indonesia meeting in june to prove they are doing something about the economy to show they deserve a couple of billion dollars the iggi which groups 14 industrialised donor countries and four agencies gave indonesia 25 billion dlrs in soft loans and grants last year
one of a pair of private investors in frost and sullivan inc told the securities and exchange commission he increased his stake in the firm by about two pct to 154 pct
federal reserve board chairman paul volcker said that he did not believe there was a connection between the feds policies and the recent rise in the prime interest rate by most major us banks
italian certificate offer has higher yields
ltv qltv unit wins air force contract
electronics retailing is very management concentrated theyd want to keep crazy eddies management in place laurence said that since entertainment marketing already owns 43 percent of crazy eddies 313 million shares it may be trying to get the antar belzberg group to increase its 7 dlr a share offer
snyder oil partners lp told the securities and exchange commission it made an exchange offer to cenergy corp that would allow snyder to acquire up to 499 pct of the companys common stock
shr 41 cts vs 30 cts net 700000 vs 526000 revs 152 mln vs 147 mln
a consortium 50 pct owned by teck and 25 pct each by mim canada inc and metallgesellschaft canada ltd acquired its cominco stake last year from canadian pacific ltd cp
iranian foreign minister ali akbar velayati warned that iran would combat any superpower intervention in the gulf
metropolitan consolidated industries inc said it will make a tender offer for all or any of the outstanding shares of common stock of metex corp mtx not currently held by or under option to metropolitan for 775 dlrs per share
closing stocks at the end of february were 270212 tonnes up from 196309 tonnes at end february 1986
despite current strong interest in gold mine stocks many investors still want to buy physical gold witte said
he cited an iranian silkworm missile strike last friday in kuwait waters against the united states flag ship sea isle city
additional ccc credit guarantees for korea usda
shr loss 24 cts vs profit seven cts net loss 5952000 vs profit 2078000 revs 559 mln vs 506 mln avg shrs 252 mln vs 247 mln nine mths shr loss 11 cts vs profit 24 cts net loss 2673000 vs profit 6800000 revs 1626 mln vs 1439 mln avg shrs 250 mln vs 244 mln note current year net both periods includes pretax charge seven mln dlrs from increase in reserve for investments in broadcast television entities and tax credits of 1002000 dlrs in quarter and 520000 dlrs in nine mths
what i was advocating here was more japanese purchases of american goods heller said in response to a question about the dollars weakness in currency markets
the blocked bid did not include non voting shareholders who hold 96 pct of canadian tire equity
management board joint spokesman alfred herrhausen said deutsches total debt exposure to problem countries had fallen to over six billion marks in 1986 from 74 billion in 1985 because of the fall in the dollar
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting
the notes have a 7 1 2 pct coupon and were priced at 9975 to yield 756 pct or 74 basis points more than comparable treasury securities
a fairchild industries official later said soros had told the company he was not dissatisfied with its management
mitsubishi finance is also dealer of the facility which is the first of its kind for a japanese bank in hong kong
for conrac the arbitrageur said 28 dlrs per share seemed like an appropriate price another said its too early to project the outcome the market is speaking for itself and saying the 25 dlr offer is inadequate the second arbitrageur said
this is very much a safety first budget in order to get interest rates down he said
the central bank has said the controls will be dropped by the end of july or early august
baldrige predicts solid us housing growth
it was also unclear what effect the tender would have on the uk governments recent announcement that it intended to dispose of its remaining 317 pct stake in bp sometime in the 1987 88 financial year analysts said
in the heart of californias oil patch kern county which produces about two thirds of the states oil exploratory drilling has slowed to a crawl
sumita says he does not expect further dollar fall
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
standard and poors said it had downgraded the kingdom of denmarks long term external debt to aa from aa plus following the countrys loss of the top aaa rating in january 1983
japans four largest securities houses are members of the london stock exchange
the company said betweenm 11550000 dlrs and 12550000 dlrs f the principal amount of the revco note plus accrued interest is payable june 30
the finance department announced the new 12 billion dlr four part bond issue to be dated march 15 and delivered march 16 will be priced as follows
shr 13 cts vs 70 cts net 1279000 vs 7979000 revs 164 mln vs 196 mln year shr 89 cts vs 243 dlrs net 103 mln vs 298 mln revs 562 mln vs 838 mln avg shrs 121 mln vs 131 mlnm note 1986 year net includes gain 129 mln dlrs from sale of eight real estate properties
in his speech heyman said he feared too many chemical companies were attempting to specialize in the same high margin niche products
lukman sees stable oil price for next couple years
however operating results are likely to remain under pressure in the first quarter ending april 30 it said
growth in domestic demand will fuel imports expected to increase by 86 pct against an originally estimated 71 pct
corporate raider carl icahn acknowledged that he is one of the targets of an investigation by the securities and exchange commission into possible violations of securities laws
rafidains area manager adnan abdul karim al azzawi told the branch had now registered its capital at the higher level but did not say how long it would take to pay it in
uk intervention feed wheat tender result awaited
riverside group inc rsgi 4th qtr
shr loss three cts vs loss three cts net loss 78456 vs loss 95812 sales 513607 vs 283043 avg shrs 3106000 vs 2933333
year includes writedown of 36 mln dlrs
public service co of north carolina inc said its board raised the quarterly dividend to 23 cts per share from 22 1 2 cts previously as adjusted for a two for one stock split that takes effect april 27
our position has been made clear about the status of events in the gulf
under 0 92 a farmer can forego planting a crop but still collect 92 pct of deficiency payments
shell canada shc raises crude 32 cts canadian
price details were not immediately available but some traders suggested business had been done around 220 dlrs a tonne cif
conditions worldwide in the television industry continued to look buoyant the chairman noted
gencorp gy says buyback better than takeover
both banks operate on an islamic year that does not coincide with the other nine
analysts said the companys estimates of fuel price and currency movements set out in its prospectus were conservative
science accessories seaso ends purchase talks
health images inc himgo 3rd qtr net
an alternative focus for commodity discussions are international study groups made up of governments with advice from industry such as those for lead and zinc and rubber
the bank of japan bought 100 billion yen in certificates of deposit cds via repurchase agreements today to show its determination to maintain an easy money policy central bank officials said
edward madigan of illinois
he was asked about the companys fate on two occasions in meetings with leaders of the senate and house of representatives
however realistic exchange rates were needed if the debtor countries were to compete in the world market mittendorf said
contl illinois says brazil moratorium could cut 1st qtr net by 10 mln dlrs
the issue price will be announced no later than wednesday april 15
us and west german reaffirmation of support for the louvre accord cannot cure the fundamental problems bedevilling the world economy which lie behind the current collapse in stock markets london economists said
shr 32 cts vs 35 cts net 3446000 vs 3789000 revs 2209 mln vs 1869 mln nine mths oper shr 77 cts vs 71 cts oper net 8301000 vs 7298000 revs 6343 mln vs 5351 mln note 1987 nine mths net excludes 3510000 dlr charge from antitrust litigation
this bullish outlook for chemical manufacturing and an industrywide move to shed unrelated businesses has prompted gaf corp gaf privately held cain chemical inc and other firms to aggressively seek acquisitions of petrochemical plants
hecht jack goldfarb and harold v
lewis preston chairman of jp morgan and co
tierco group inc tier year ended dec 31 loss
wang said the desk top financial planning system for its ois comes in two basic packages the advanced planning system priced at 2995 dlrs and the budget reporting system priced at 1995 dlrs
the debt overhang effects the capacity to grow as it reduces the ability to import the communique said
japanese commercial creditor banks confirmed an earlier commitment to extend some 360 mln dlrs in new loans to argentina banking sources said
nine mths include 17 billion dlr addition to loan loss reserves in 2nd qtr mostly for shaky ldc debts
pepsico pep upgraded by kidder peabody
american lawmakers rallied behind president reagan for the us strike against iranian targets in the gulf but the attack fueled a sharp new white house congress debate over limits on his powers to make war
bread wheat 26924 41610 maize 23051 52000 sorghum 2205 6257 soybean 5613 5245 sunflowerseed 457 2132
if no such steps are taken protectionist sentiment in the us congress will grow putting greater downward pressure on the dollar they said
cyacq said its new offer is also subject to cyclops rescinding any agreements with dixons under which the uk based firm would receive break up fees or expenses from cyclops or could buy cyclops common stock from the pittsburgh based company
de clercq is on his way to china after attending a two day conference for 22 gatt trade ministers held in new zealand
focusing on commodity prices as an early and sensitive indicator of current and perhaps also future prices pressures the monetary authorities may take such an index into account in making their monetary policy decisions he says
payment date is april 22 1987
analyst tim harris of phillips and drew said rising profits and a low tax charge would be offset by the fact that rolls operated in a sector which traditionally attracted low ratings
belgian march consumer prices rise
the january cut followed the national banks lowering of its discount and lombard rates by half a point in line with a similar bundesbank move
total opec crude oil supply was 158 mln bpd in the first quarter plus 14 mln bpd of ngls compared with 173 mln bpd of crude in the last three months of 1986 and 179 mln average for the whole of 1986
cpc cpc sees 1987 higher earnings per share
wheat stocks may 31 1987 projected at 1848 vs 1877 last month
but lesser quality grades have traded below 100 stg
sensormatic electronics corp snsr 3rd qtr net
while world group turnover rose 72 pct to 388 billion marks in 1986 incoming orders were barely changed at 391 billion marks
the iranian spokesman said the reports that iran intended to attack ships were misleading propaganda he said iraqs president saddam hussein was the main cause of tension in the gulf and said iran would continue to use all its legitimate means to stem the cause of tension weinberger said in a television interview in the us we are fully prepared to do whats necessary to keep the shipping going and keep the freedom of navigation available in that very vital waterway we arent going into any disclosures or discussions of what might happen but we are certainly very sympathetic to and listening carefully to any suggestions for our assistance in keeping navigation free in that area he said
it said mnc financial inc is the proposed new name for the parent company
fecsa faces repayments of 60 billion pesetas in interest and 30 billion pesetas in principal this year
he said field testing of a new bowling concept involving electronic features is being readied for test marketing this summer and if successful could materially benefit operations
the average forecast called for a 18 billion dlr increase
liberty all star equity fund initial div
the bank said community state banks shareholders approved the merger at a meeting last saturday while monday the directors of 1st source also approved the move
stone container sto completes waiting period
mw ward holds 62 pct voting interest
the bonds will be sold in denominations of 500000 australian dlrs and listing will be in luxembourg
union national unbc signs definitive pact
the bank of france said it left its intervention rate unchanged at 7 3 4 pct when it injected funds in the market against first category paper in todays money market intervention tender
the shares are also convertible until the redemption date into common stock at the rate of 35 common shares for each preferred share
clayton homes inc cmh 3rd qtr march 31 net
combined refinery and comex stocks eased to 212200 tons in january from 238700 tons in december
as of march six only 353 shares of cyclops 41 mln outstanding shares had been tendered
annual div class a 14 cts vs 12 cts prior annual div class b 121 cts vs 104 cts prior payable april one record march 20 note full name is bdm international inc
zhao said china should lower the cost of exports and control the export of goods that incur too much loss
prices for other goods and services rose 07 pct in february following a 11 pct increase in january
for those of us who have managed to hold on the worst is over he said
anz managing director brian weeks said recent developments in the money markets are of deep concern to all participants market participants are understandably nervous and cautious about future developments
schmidt chiari did not elaborate on his dividend forecast
union bank of switzerland nv is issuing a 15 billion yen eurobond due june 1 1992 paying 4 3 8 pct and priced at 101 3 8 pct lead manager union bank of switzerland securities ltd said
previously it said it would pay one fisher share for every 20 outstanding but it changed the ratio because of the reduction in its outstanding shares to 109 mln from 129 mln
the exercise period runs from april 8 1987 until march 6 1989
narragansett capital inc narr said it and dudley s
bank of finland governor rolf kullberg told a news conference the bank will also limit credits on the call money market from march 30 1987 by introducing a maximum credit amount and a penalty rate if banks exceed this ceiling
net excludes tax credit 2540000 dlrs vs credit reversal 2300000 dlrs in quarter credit 5500000 dlrs vs nil half
chirac said france would make public its reasons for awarding control the sources said
bank of new york bk raises prime to 7 3 4 pct
rephs board has appointed a special committee to negotiate terms of the proposed merger pesch said
the group said the sale which represented all the burlington options it owned was made may 28 for 87 mln dlrs
fletcher challenge ltd fcl managing director hugh fletcher said he was disappointed that rada corp ltd had decided to sell its shares in nz forest products ltd nzfp to australias amcor ltd he said in a statement that fcl had made an offer for the 24 pct of nzfp held by rada
it said it and brockway are preparing responses to the previously announced request for additional information from the federal trade commission under the hart scott rodino act
liberian ship grounded in suez canal refloated
the price for each corona warrant consists of 175 convertible retractable zero coupon series b first preference share at 35 dlrs nominal value and one five year 750 royex share purchase warrant
the first of the aircraft will be delivered in october 1990 and the second in may 1991
canadian airlines will have 35 40 pct of the 6 billion canadian dlr domestic market against air canadas 50 55 pct
in total cpc has bought back about 16 mln shares of common stock adjusted for the split it said today
to salvage the pact tokyo has instructed its chip makers to slash production and has helped establish a multi lateral organisation designed to promote chip imports
sindt however did not rule out the possiblity of implementing more minor changes in its pricing system
rjr nabisco rjr sells sinking fund debentures
morocco will tender thursday for 120000 to 210000 tonnes of us wheat cheapest variety preferred for may and june shipments under pl 480 private export sources said
oper shr loss 44 cts vs oper loss eight cts oper net loss 3158000 vs profit 2035000 rev 1660 mln vs 1623 mln year oper shr loss 34 cts vs loss 93 cts oper net profit 7599000 vs loss 283000 rev 6433 mln vs 5763 mln note per share results after provision for pfd dividends
weve had encouraging results from the eastern portion of the field and we hope this summers drilling will prove up additional reserves there the company said
microbiological also said that if the maximum additional capital is raised it will own about 49 pct of 455000 shares of common outstanding in the new combined company datagene holders will own 29 pct and ventana and others will own 13 pct
an exxon spokeswoman confirmed that raymond had specifically mentioned refineries in france but said that no specific refinery had been named
burr brown bbrc sees lower 1st qtr earnings
shr 95 cts vs 36 cts net 9100000 vs 3300000 revs 1437 mln vs 1324 mln avg shrs 9884000 vs 9780000 nine mths shr 277 dlrs vs 149 dlrs net 26600000 vs 19000000 revs 4018 mln vs 3852 mln avg shrs 9871000 vs 12565000 note 1986 earnings include a loss from discontinued operations of 1000000 dlrs or 10 cts a share in the quarter and a gain of 2500000 dlrs or 19 cts a share for the nine months
egyptian central bank dollar rate unchanged
both tranches are non refundable for five years and rated baa 2 by moodys and bbb by standard and poors
american express said in a statement that the swap will be made via its international capital corp unit over two years
donald regan says us should ease credit supply
combustion engineering inc said it has completed the previously announced acquisition of accuray corp in a merger trasaction that closed friday at 45 dlrs per share
however they said lawson would be prepared to see the pound go higher at least in the short term despite the risk of a loss of export competitiveness and cheaper prices on imports
the australian wheat boards awb 1986 87 export program is well advanced with over 10 mln tonnes already sold awb general manager ron paice said
company chairman robert g
the split will be effected by one additional share for each common share held the company said
the survey said monetary expansion was estimated to be nine pct to date but might rise to around 12 pct by the year end
japans seasonally adjusted unemployment rate rose to a record 32 pct in may the worst level since the government started compiling unemployment statistics in 1953 the governments management and coodination agency said
hamburgische landesbank girozentrale is issuing a 50 mln australian dlr eurobond due april 2 1991 paying 15 pct and priced at 101 1 2 pct lead manager orion royal bank ltd said
the hokkaido bank ltd is issuing a 30 mln dlr convertible eurobond due march 31 2002 with an indicated 2 1 4 pct coupon and priced at par lead manager nomura international ltd said
douglas said the present scale of the public debt was massive
cognitronics corp cgn 4th qtr loss
the philippines rescheduled 103 billion dlrs of its 28 billion dlr foreign commercial debt in march
magellan sets merger with balzac investments
ultramar says fourth quarter showed improvements
monetary sources also said they understood that secretary baker considered the meeting to be extremely successful in the light of the japanese announcement
this will ensure the buffer stock operation is carried out without any financial encumbrance lim said
that plan would have set a specific time table for foreign countries to ease import restraints or they would face a 25 pct cut in exports to the united states
diagnostic products corp president and chief executive officer sigi ziering said he expects to maintain the same compound average annal net income growth in 1987 as the company has for the past five years
bankamerica said however that it expects to report a profit for the first quarter of 1987
little reaction to removal comex daily limits
company is a subsidiary of the british petroleum co plc bpl
reagan has committed a big mistake and has definitely increased his problems
after emery made its offer hutton extended the deadline on its offer to monday
operating earnings however were off about four pct and analysts have attributed the decline to rockwells allen bradley unit which has suffered from weakness in the industrial automation market
the us has said it will not allow iran to use the missiles to choke off oil shipments and has offered its warships to escort kuwaiti tankers past the missile batteries
for the first nine months of the year it had earned 6818000 dlrs or 92 cts per share up from 6354000 dlrs or 86 cts a share a year before
that helped boost us chemical exports
us jobs data said to rule out fed tightening
the federal national mortgage association said it will announce its coming debenture offering next monday instead of this friday as originally scheduled
but even 25 pct would be a fantastic result when you consider that prices are now free for the first time since 1945 commented develle of paribas
china closes second round of offshore oil bids
stritch jr
industrial equity pacific which currently holds 583 mln calmat common shares said it is also evaluating the companys recently adopted shareholder rights plan and its potential effect on calmat and on possible acquisition proposals made to the company
sec investigations into those kinds of possible securities law violations have been spawned by the agencys widening probe into the wall street insider trading scandal according to published reports
hernandez said pdsva has entered similar joint ventures with veba oel of west germany nynas petroelum in sweden and citgo in the united states
the executive directors of the islamic development bank idb approved a total of 115 mln dlrs of trade and project financing loans to its member countries in the first two days of its meetings here a bank statement said
qtly div eight cts vs eight cts prior pay april 24 record april 10
dixons said today that it purchased the tendered shares which when combined with the shares it already holds gives it a 217 pct stake in cyclops
mercantile stores co inc 4th qtr shr 326 dlrs vs 317 dlrs
peru sugar harvest seen lower usda
the klm spokeswoman said she expected further announcements about the talks with vendex to be made early next week
qtly div 20 cts vs 20 cts prior pay april 10 record march 20
digital communications associates inc said it agreed with fox technology inc foxto to buy its fox research inc unit for a cash payment and the assumption of liabilities of around 10 mln dlrs
herrington told a meeting of the mid continent oil and gas association that the higher depletion allowance on new oil and enhanced oil recovery would cost taxpayers about 200 mln dlrs a year
stansbury mining stby gets funding for mine
if impeded by the low pressure area the cold air could hit oklahoma and texas as late as monday morning
malaysia says rubber pact depends on consumers
canada december leading indicator up 04 pct
the mdp won six out of the 14 places on the unions directorate in elections earlier this month with the christian democratic party holding five and the remainder being won by independents
this year should be the fifth solid year in a row for homebuilding activity with single family units stronger than multi family units he said in a statement
shr loss three cts vs loss 39 cts net loss 115000 vs loss 1544000 rev 69 mln vs 73 mln six months shr profit four cts vs loss 44 cts net profit 141000 vs loss 1772000 rev 139 mln vs 145 mln note net includes loss from discontinued operations of 78000 dlrs or two cts a share versus 597000 or 15 cts a share in the prior 2nd qtr
northern telecom ltd nt declares stock split
it said the deal involved news internationals acquisition of a 50 pct stake in the telegraphs trafford park printing ltd subsidiary
the office said the fall was largely due to lower prices for energy raw materials and semi finished goods
the bank said it will offer 200 mln dlrs of bonds maturing march 1990 and 200 mln dlrs of bonds maturing july 1992
standard and poors said it lowered its rating of southdown incs 50 mln dlrs of sinking fund debentures to bb plus from bbb and removed the issue from creditwatch
a one percentage point fall in key 10 year bonds rates in the past month record share prices and a 10 month high for the currency of 071 us dlrs all illustrated the inflow
richard lugar r ind read a letter from us trade representative clayton yeutter who said the proposal blatantly discriminates against imports would be impossible to defend under international trade law and would harm relations with the philippines malaysia and indonesia
however the ultimate return to satisfactory operating conditions is dependent on the successful resolution of the related problems of credit quality funding and the eventual need for substantial additional capital first city said it anticipated that certain covenants of a credit agreement with unaffiliated banks requiring most of first citys excess cash to be applied to debt repayments would be modified by the end of the first quarter in order to avoid default
financial corp of santa barbara said it has signed a definitive agreement to purchase stanwell financial the lending operations unit of mortgage banking company stanwell mortgage for undisclosed terms
fed chairman volcker says bank proposals a worry
it has received 107 billion dlrs from the world bank in the past 20 years
new generation products makes acquisition
the fall in foreign exchange reserves took these reserves to 9883 billion francs at the end of january from 10774 billion at end december
qtly div 8 1 2 cts vs 8 1 2 cts prior pay may one record april 20
consumers want frequent price reviews at 12 month intervals instead of 18 months as at present a proposal currently rejected by producers
commerce undersecretary j
in its weekly petroleum status report the department of energy agency said gasoline stocks were off 100000 barrels in the week to 2515 mln barrels and refinery crude oil stocks were up 32 mln barrels to 3330 mln
the testimony by amstutz and gao senior associate director brian crowley comes as congressional budget committees intensify their efforts to pinpoint ways to cut the federal budget deficit including considering limits on the use of pik certificates
1986 net both periods includes charge 865000 dlrs from repal of investment tax credits
bayer said world group pre tax profit rose to 330 billion marks in 1986 exceeding the previous years record of 315 billion
among the leading seven industrial countries consumer price inflation was highest in italy at 42 pct followed by canada at 40 pct britain at 39 pct france at 34 pct the us at 21 pct and west germany and japan with negative rates of 05 pct and 14 pct respectively
campbell resources inc said it raised its voting stake in meston lake resources inc to about 64 pct from 52 pct through acquisition of another 870000 meston lake shares in its previously reported takeover bid
upi president resigns after five months
domestic sales rose 04 pct to 27417 billion yen from a year earlier while exports declined 99 pct to 61504 billion
the company said stuart karl president and chief executive officer court shannon executive vice president and gary hunt vice president sales resigned effective immediately
baird corp batm said the massachusetts state court for suffolk county has lifted a temporary restraining order prohibiting mark iv industries inc from further purchases of baird stock
jordan has boosted its bids for us soft and hard wheat under export bonus private export sources said
he described criticism of the quality of indonesian beans as trade politics and said jakartas traditional links with dutch buyers meant it did not have any difficulty with exports
there was no evidence of winterkill in yugoslavian winter wheat during field travel along a line running northwest from belgrade to near maribor the us agriculture departments counselor in belgrade said in a field report
but he said us ships in the region were on routine maneuvers
the bank of finland said it has revised the weightings in its currency basket with effect from today
its purchases from the united states include electronic testing equipment grains and cotton
monier is the largest concrete roof tile manufacturer in australia the us and new zealand and the worlds largest marketer of fly ash according to its annual report for 1985 86 ended june 30
while relative exchange rates had a role to play in defusing the threat of protectionism it alone did not offer any solution he said
current quarter net includes 47470 dlr tax credit
weizsaecker said argentina has had difficulties with the european community over trade barriers and subsidies for grain exports
morgan guaranty trust co of new york plans an issue of 12000 warrants for gold bullion at 425 dlrs an ounce lead manager morgan guaranty switzerland ag said
it quoted chairman simon keswick as saying jardine matheson achieved the good performance through satisfactory results in most sections especially hong kong land co ltd hkldhkg jardine fleming co ltd and its business in japan
the bank of england said it provided the money market with late assistance of around 550 mln stg
the hague and rotterdam preceded with programs arranged by algemene bank nederland nv abnnas details of the first tranche of the program are still unknown
caribou energy reverse split approved
us dealers said the new york federal reserve bank has intervened in the foreign exchange market today buying dollars against yen
moodys may downgrade duquesne light cos two billion dlrs of debt securities
it said funds for the redemption came from the sale of 300 mln dlrs of 9 3 8 pct first mortgage bonds due 2017 in february
backlog at january 31 747 mln dlrs
french 13 week t bill average rate falls to 769 pct from 782 pct
pacific lighting copr plt quarterly dividend
ameron amn adopts shareholder rights plan
the transaction is valued at approximately 378 mln dlrs and is expected to be completed by march 31 1987
daiwa won its first us corporate debt offering in september 1986 and followed that with the march 11 competitive win
economists said unemployment is expected to exceed 10 pct in 1988 against about 95 pct this year
blue circle profits dividend rise
cornucopia resources ltd in drilling program
the bond pays yearly interest on that day and expires on that day in 1992
samson energy co limited partnership sam year
shr 66 cts vs 57 cts net 200 mln vs 171 mln avg shrs 303 mln vs 300 mln
allegheny beverage abev downgraded by moodys
ibm ibm to redeem 250 mln dlrs of notes
the remaining 05 billion francs will be raised through treasury operations
he said the 12 bank advisory committee sent telexes of the accord to the countrys 483 creditor banks and he expected documentation and agreement from all of them by july
national westminster bank plc led the way this morning after the bank of england lowered its dealing rates in a signal that it would tolerate a half percentage point reduction
periods end sept 26 shr 31 cts vs 24 cts net 5449000 vs 4083000 sales 603 mln vs 519 mln 39 weeks shr 47 cts vs 30 cts net 8249000 vs 5147000 sales 1450 mln vs 1083 mln
a british minister said that a proposed european community tax on vegetable oils and fats would raise the price of fish and chips and he pledged the government would fight against it
the company said it is drilling a new exploration well on the block southeast shiviyacu 1 25 miles away
shr profit 28 cts vs loss 32 cts net profit 1190000 vs loss 686000 revs 408 mln vs 22 mln year shr profit 20 cts vs loss 49 cts net profit 2021000 vs loss 1162000 revs 103 mln vs 95 mln avg shrs 4206371 vs 2124967
becor western inc said davis mining and manufacturing inc has amended its offer for the company
copley properties inc cop increases dividend
he said perelman in the process of taking revlon private after acquiring control of the cosmetics company two years ago probably wants to concentrate on improving revlons operations
allegheny said the offer is conditioned upon the valid tender of stock representing a majority of the voting power and at least two thirds of outstanding shares of preference stock and preferred stock
completion of the proposed transaction is subject to approval by the italian government it said
marsh and mclennan cos inc mmc 3rd qtr net
uncertainty surrounds ec sugar tender result trade
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
shell oil co of houston has been awarded a 1043 mln dlr contract for jet fuel the defense logistics agency said
iraq oil minister qassem ahmed taqi replaced iraqi news agency reports
last week before extending its cyclops offer for one week at the request of the securities and exchange commission dixons had reported that 54 pct of cyclops stock had been tendered in response to its 9025 dlrs per share offer which expired at 2400 est yesterday
bank economists have forecast the economy will either stagnate or contract slightly in the first quarter
the auction results will be announced tomorrow afternoon
it is ludicrous for the nations of the world to plough immense amounts of financial resources into the production of items that nobody wants to buy he said
early buying interest was low despite a weaker dollar against european currencies they added
taiwan south korea west germany japan all those miracle economies deliberately undervalued their currencies the peso has been free floating since june 1984
the bank also said time deposit rates will be lowered by 037 point effective march 16 in line with the half point cut in the official discount rate on february 23
federal co fff 3rd qtr feb 28 net
so the sale does make a lot of sense mote said
some analysts today recommended clients not buy burlington at its current levels
shr 86 cts vs 79 cts net 4042000 vs 3549000 revs 597 mln vs 473 mln
miller acknowleged the estimated sale proceeds at 33 billion dlrs would actually bring down the deficit by about 22 billion dlrs because of the loss of revenues from the sale of oil from the reserves
ford motor co of canada ltd fc 4th qtr net
taft also said the new proposal would be submitted to the board but no decision had been made with respect to the sale of the company
shr profit 15 cts vs loss 40 cts net profit 1538000 vs loss 4088000 revs 706 mln vs 732 mln nine mths shr loss eight cts vs loss 57 cts net loss 832000 vs loss 5821000 revs 2170 mln vs 2484 mln note 1987 qtr and nine mths includes gain 265000 dlrs or three cts per share from utilization of tax loss carryforward
the meeting which is being held in conjunction with this weeks international monetary fund world bank sessions will reaffirm the currency pact and there is no need for changing the language used in the paris accord the officials said
the cardenas letter responded to a us letter last month which praised colombia for trying to find a compromise formula for the reintroduction of quotas but outlined several concerns with the technical details of the colombian plan
we got a little volatility wednesday said staley commodities international analyst jerome lacey
even before coke denied the rumors analysts had been skeptical of a takeover since atlanta based coke has stated it views fast food chains as customers and does not want to become a competitor to them
comdata network cdn in new acquisition talks
this will bring the light fuel oil price to 1690 dlrs medium to 1550 dlrs and heavy to 1460 dlrs the company said
phelps dodge pd sets sights on acquisition
the world bank last month granted indonesia a 300 mln dlr trade adjustment loan
norcens 1986 cash flow fell 10 pct to 2049 mln dlrs from 2289 mln dlrs in the prior year
yankee cos inc said it has acquired 3916000 dlrs of 7 1 2 pct convertible subordinated debentures due may 15 1998 of its yfc international finance nv affiliate for 501807 common shares from an institutional investor
gerard guillonneau of france who spoke for consumers agreed that the current agreement had worked relatively well asked about the chances of success of the new inra delegates noted that for nearly its whole life the 1979 accord had maintained the average price above the must buy level
its a growing field
last years better profits had resulted from improvements in services provided by the bank and also in profits on schilling lending
polaroid prd up on reaffirmed opinion
he said the tariffs would remain in force until japan abided by the agreement
the company said the notes redemption price is 100 pct of their principal amount plus accrued interest
executone is at the top of the list said one analyst referring to contels loss riden telecommunications equipment unit
diceon electronics dicno to buy symtron corp
discovery west corp said it plans to sell convertible subordinated notes in a principal amount of between four mln and seven mln dlrs by way of a private placement through first marathon securities ltd
traders said the recommendation by smith barney analyst james barlage which focused on the relief the company will get from the dumping situation and the subsequent earnings momentum as a result of that action helped to propel the stock higher today
ec grants 5000 tonnes soft wheat export licences at 13475 ecu rebate brussels trade
he said an estimated 15 billion yuan worth of grain was hit by mildew or rot in state granaries every year and a further 15 mln tonnes was eaten annually by rats
there was no sign today of an early end to the seamens strike which has badly hit the port of santos the most important in south america and the countrys other main ports
the bank will decide march 31 whether to characterize these loans as non performing william ogden chairman of the continental illinois national bank and trust co of chicago continentals largest subsidiary said in response to an inquiry
the department said the action increases the feed grains line by 23 mln dlrs to 63 mln the oilseed line by seven mln dlrs to 52 mln and the wheat guarantee line by 20 mln to 165 mln dlrs
it will also exchange 698 shares of common for each 1000 dlr principal amount of 5557000 dlrs of outstanding 13 1 2 pct senior notes due may 15 1990 and 612 common shares for each 1000 dlrs of its 12788000 dlrs in 9 5 8 pct convertible notes due september 15 1991
there has been no official estimate of damage
the special daily rebate for maize was set in the context of a commission commitment to grant this season rebates for the export of 500000 tonnes of french maize to non ec countries in compensation for concessions to the us in the recent dispute over grain sales to spain
haughey told a news conference he is confident of being asked to form a government when the irish parliament meets next tuesday
the tokyo metropolitan government said it would float a 100 mln dlr 10 year bond with a 75 pct coupon in new york its first yankee bond issue in 21 years
goldman sachs and co ran the books on that deal with first boston acting as co manager
trade analysts say tokyo is likely to outline industry plans to step up purchases of us chips and to propose a joint investigation into washingtons allegations of chip dumping
du plessis said 34 banks holding more than 70 pct of the frozen debt agreed to the new arrangement worked out with south african negotiators in london
it cited bank of montreals below average profitability and internal capital generation and relatively high international debt exposure in relation to common equity although it noted that loan losses were expected to moderate in 1987
forstmann little said it acquired sybron in february 1986 and since that time sybron has been substantially restructured with new management lower corporate overhead and a new location in saddle brook nj fortsmann little said goldman sachs and co will act as its financial advisor for the move
at the same time the pentagon announced on tuesday that us forces have begun escorting another kuwaiti tanker convoy southward through the gulf from kuwait
out of this traders in west germany received 34750 tonnes in the uk 13000 in denmark 7250 tonnes and in france 4000 tonnes
the decline largely reflects the impact of brazils suspended interest payments which resulted in about a 40 mln dlr reduction in net interest income royal bank said
singapore traders said sellers might now aim for gsps at least
bellsouth bsc unit offers new telephone system
its the other side of the lower dollar wyss said
he said that on the contrary baker wanted to avoid any further rise in us interest rates because it would not only hurt the us economy but aggravate the third world debt problem
gte corp is raising 250 mln dlrs through an offering of debentures due 2017 yielding 8737 pct said sole underwriter ubs securities inc
it said a one pct movement in fuel prices would affect cathays net profits by 10 mln dlrs and forecast profits of 125 billion dlrs
shr 101 dlrs vs 108 dlrs net 21983000 vs 23434000 sales 1749 mln vs 1617 mln
borden said the divestment of two producers of toy models and hobby items heller in france and humbrol in england is in process
the issue is available in denominations of 20 and five mln yen and will be listed in luxembourg
shr loss 38 cts vs profit two cts net loss 2254533 vs profit 106621 revs 3430970 vs 4104506
winchells donut wdh sets initial quarterly
no further details on the loan were immediately available
cis cisifo agrees to second extension
the institute estimated per capita gnp for 1986 at 11166 dlrs up from 10453 dlrs in 1985
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
newport electronics inc newe 4th qtr net
its 1986 net profit rose to 145 mln us dlrs from 125 mln in 1985
bell previously held 10 pct of standard
the g 10 met briefly before the international monetary fund interim committee meeting scheduled for today
it will not give any short term relief for debt ridden countries but it will make a difference in 10 to 15 years
the index was down 67 pct from a year earlier
dieter said there were signs that prices for steel pipe were bottoming out and would slowly start to rise but he added the company would continue to cut personnel in this sector this year
vulcan vul withdraws jones vining jnsv bid
the coupon is valid for one year and will then be re fixed annually at the one year australian treasury rate
california energy ceci negotiates financing
but diminished customer resistance to fixed prices and in some cases marketing incentives have helped their sales
the profit scheme will begin after zenex has paid exxon an undisclosed purchase price for esso zenex chairman john truscott said in a statement
the adss will be valued at the average of their closing prices in the 10 trading days before the effective date of the merger
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
analysts said the m0 measure reflecting variations in consumer demand rather than real inflation prospects was not an adequate indicator to determine interest rates
but dealers said the longer term outlook for the dollar remained bearish
continental general insurance co said its board of directors declared a 10 pct stock dividend on common shares payable april one to shareholders of record march 16
proceeds will be added to continentals corporate funds to provide additional liquidity
penril pnl seeks to sell two units
the increase brings the price for 05 pct sulphur fuel to 2150 dlrs up 50 cts 07 pct sulphur to 21 dlrs up 75 cts 07 pct sulphur to 21 dlrs up 75 cts one pct sulphur to 2025 dlrs up 75 cts two pct sulphur to 1975 dlrs up one dlr 22 pct sulphur to 1950 dlrs up one dlr 28 pct sulphur 19 dlrs up one dlr the company said
central bank director daniel marx said argentinas creditor banks were divided on the countrys request for rescheduling its foreign debt
stocks aug 31 1986 at 536 vs 536 last month
the program will probably allow consumers using a credit card issued by citibank to pay for flights on american and earn frequent flyer miles they said
weeks petroleum ltd wpmamel calendar 1986
prudential borrows from minority banks
it condemns japan without due process one japanese official said
louisiana land said the conoco group intends to provide a formal acceptance of the blocks with plans to start exploration this year
they transferred to us trade representative clayton yeutter the powers now held by reagan to decide whether to retaliate against foreign violations of fair trade rules and whether an injured industry deserves import relief
the improved outlook results from amr corps amr decision to order 40 new planes powered by cf6 80c2 ge engines
the chain of stores was acquired when hanson took over imperial group plc last year
he told a news conference yesterdays meeting agreed on the need for closer coordination among ems member governments of interest rate policies and of interest rate differentials between different countries
qtly div five cts vs five cts prior pay july one record june 17
international american homes inc said it entered into a conditional contract to acquire the maione hirschberg cos inc and affiliated entitles for 19 mln dlrs
bp australia reports 1615 mln dlr year loss
french finance minister edouard balladur issued a firm call for the continued faithful application of the louvre accords on currency stability by all major industrial countries
it said the zone is just below the projection of the seventh level of the mine about 1450 feet below the surface and 820 feet west of the shaft
abn says profit rise encouraging in view dollar
xidex corp xidxo 1st qtr sept 30 net
he said the ec wanted to stick to the four year schedule agreed by members of the general agreement on tariffs and trade gatt in punta del este uruguay last year
however dole did not say whether he would support the 0 92 option which would offer producers at least 92 pct of their income support payments regardless of how much they planted
thorn emi is a leader in the british audiovisual market with a turnover last year of 300 mln stg
federal funds which averaged 597 pct yesterday opened at six pct and remained there in early trading
a study of salmonella poisoning has uncovered new evidence that the common practice of feeding antibiotics to cattle is helping to create deadly bacteria that can infect humans and resist medicines
st
it estimated 1985 86 output at 1613 mln tonnes vs 1613 mln last month
bra kanon reckoned the world cocoa surplus could be less than half the 94000 tonnes estimated by the icco statistics committee
vlsi technology inc said it plans to file a registration statement with the securities and exchange commission in mid april covering a proposed underwritten public offering of 50 mln dlrs principal amount of convertible subordinated debentures
midland bank treasury economist david simmonds said he too expected base rates would be a full point lower by friday but this would likely happen via two half point cuts
analysts polled by estimated after tax profits from operations will be between 1525 billion and 18 billion dlrs compared with 123 billion in 1985
terms were not disclosed
borrowings have held near a weekly average of 300 mln dlrs over the past several months he said
gatt rules cover some 80 pct of world commerce
allen sinai chief economist at shearson lehman brothers inc told congress this week that inflation would rise to 45 to five pct this year and stay at that level through 1989 after a 11 pct increase in 1986
the us owned surinam aluminum company suralco offered workers a lump sum and up to five months wages to quit the firm because jungle based rebels have disrupted bauxite mining and alumina smelting anp said
frawley said there had been a tremendous growth in demand for chilled lamb in the last four to five years and he predicted this would continue
nakasone sounds conciliatory note in chip dispute
deputy prime minister janez zemljaric speaking before a meeting with the paris club of creditor nations said yugoslavia was seeking to refinance two billion dlrs of debt
the api said us operations have the capacity to refine 156 mln bpd of crude
shr profit four cts vs loss six cts net profit 967000 vs loss 1219000 revs 101 mln vs 45 mln year shr profit three cts vs loss five cts net profit 688000 vs 982000 revs 246 mln vs 163 mln note 1986 includes results of louisiana energy and development corp acquired in november 1986
the kanata ontario based microchip manufacturer was the first company to qualify under ottawas 20 mln dlr fund called the technology opportunitie in europe program
the brazilian government announced suspension of interest payment on part of its 109 billion dlrs foreign debt on february 20
southwest bancorp said it will commence an exchange offer for all of its 108710 issued and outstanding shares of 250 dlr cumulative convertible preferred stock on march 12
libya is to receive 89 mln dlrs for a plant to produce concrete blocks north yemen 55 mln dlrs for roads and maldives 18 mln dlrs for school construction
assets 258 billion dlrs up 72 pct from a year earlier deposits 211 billion up 94 pct and loans 171 billion dlrs up 172 pct
traders say it is difficult to foresee the riyal market moving completely out of the region partly because of local demand and partly because of what is seen as the saudi arabian monetary agencys sama desire to moderate internationalisation of the riyal and protect it from undue speculation
prices of reasonable quality floaters had firmed by an average of 10 basis points in early trading but frn dealers cautioned that the mood was still nervous
the dividends are payable on april 20 to shareholders of record april six
chase manhattan corp with consolidated assets of 90 billion dlrs is the second largest banking organization in new york and operates in the united states and abroad
period ended feb 28 shr profit five cts vs profit four cts net profit 191000 vs profit 108000 sales 6561000 vs 5896000 nine mths shr loss 28 cts vs loss 40 cts net loss 871000 vs loss 990000 sales 9310000 vs 8894000 avg shrs 3086386 vs 2465996 note full name is american nursery products inc
we fully expected a decline but the extent was more than we anticipated said james christian chief economist for the us league of savings institutions
thai traders plan maize futures market
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
payless cashways inc chairman david stanley told analysts the companys first quarter results to be reported march 17 will be better than the seven cts per share reported in the year ago quarter
american physicians service amph 4th net
baker said he opposed a stock transactions tax proposed by house speaker jim wright d tex or other special taxes
it noted that ec output of isoglucose is subject to maximum quotas of which cpc currently holds a 25 pct share and said it foresaw an increase in other industrial uses of starch in the future notably in the production of ethanol for fuel
they are mainly one off but they have burdened the annual accounts the company said in a statement
westport bancorp inc wbato 3rd qtr net
sama offers a total of 19 billion riyals in 30 91 and 180 day accounts to banks in the kingdom each week
in the longer term s and p said an adequate generation of returns on capital would depend on data generals successful broadening of its customer base
argentine economy minister juan sourrouille left at the weekend for the united states for talks with creditor banks and the imf aimed at obtaining the release of new loans the semi official news agency telam said
mcfarland energy inc said its board and that of petrominerals corp have approved a definitive agreement for mcfarland to acquire petrominerals in an exchange of stock
he said it was signed by an official indian trade delegation and japanese businessmen in tokyo last week
we want the basis of quotas to reflect availability and to encourage stock holding as an alternative to a buffer stock if supplies are needed at a later stage one delegate said
a penalty rate of interest of 19 pct is now introduced if the limit is exceeded
the transaction is subject to fulfilment of certain unspecified conditions and regulatory and board approvals
in a previous sec filing the group has said it has decided to try to seek control of prime medical through a tender offer exchange offer proxy contest or other ways
a company spokesman declined to comment further on the investigation
the agricultural stabilization and conservation service ascs bought 23 mln pounds of peanut products at a cost of 21 mln dlrs and 74 mln pounds of vegetable oil shortening for 20 mln dlrs for domestic distribution april 1 15 and april 16 30 an ascs spokesman said
today one trader said they were indicated initially at 65 to 70 pct before ending at some 79 83 pct
he and others said the huge loss including writedowns totalling 208 billion dlrs before a 571 mln dlr reduction in deferred income taxes dramatically enforces the companys claim that a 50 pct drop in world oil prices has crippled its financial position
all employees at both locations will be retained it added
latin american officials here said citicorps move would probably boost trading of discounted third world debt in the secondary market implicitly downvaluing the amount owed
turkeys current account deficit widened in july to 674 mln dlrs from 454 mln in june but fell from 122 billion in july last year the state statistics institute said
non callable for life the deal was rated aaa by both moodys and standard and poors
bank takeovers are less likely because banks cant use their own stock to make acquisitions because their share price is too depressed alpert said
shr seven cts vs one ct net 178919 vs 34429 revs 3148420 vs 1912438
theres a good correlation between mediocre crops and fall dryness martell said
a hearing on the counterclaim is scheduled for march 19 and 20
us retail sales rose 477 billion dlrs or 41 pct in february to a seasonally adjusted 12229 billion dlrs the commerce department said
finnish unemployment at 67 pct in december
year to date it estimated domestic car output at 2334528 down from 2442221 in the same 1986 period
the company makes semiconductors memory components and related products
roderick proposed that tender offers must be made for all cash to all stockholders on equal terms and that raiders be required to have financing in place before a tender is made
thailand exported 689038 tonnes of rice between the beginning of january and february 24 up from 556874 tonnes during the same period last year
hutton is offering 35 dlrs cash per share for 83 pct of the shares
the chicago mercantile exchange cme board of governors announced today the options on random length lumber futures will begin trading on may 29
also acres set aside under the conservation program are by definition poor yielding so the impact on total corn production will be minimal they added
im sure theres an end to the expansion but we are doing this to accomplish our goal which is to regain the markets that weve lost to keep our products competitive and to let those particularly the european community who we are convinced are the worst offenders in terms of the export subsidization that we are prepared to continue to do this until we can come to some agreement to put an end to it he said
crazy eddie inc said it is negotiating for the possible acquisition of benel distributors ltd which operates crazy eddie record and tape asylums in all crazy eddie stores
he said the others had returned to work over the last week accepting pay offers of 120 pct from four private companies and from the frota nacional de petroleiros fronape part of the state owned oil company petrobras
we might be able to see some additional value if we could meet and get more financial data said joel reed speaking for the investor group
the climate for precious metals is improving with prices benefiting from renewed inflation fears and the switching of funds from dollar and stock markets brokers samuel montagu and co ltd said
rudy boschwitz r minn said he intended to offer legislation that would allow 1987 producers of wheat feedgrains cotton and rice to receive at least 92 pct of their deficiency payments regardless of how much they planted
the main reasons for the january decline after a 23 pct december rise were declines in building permits new orders for plant and equipment and for consumer and industrial goods
the current management will remain in place and the unit will continue at its locations in wrexham uk the company said
we very much regret the communitys plan he added
coloroll group plc said it has entered into a conditional agreement to acquire the business and assets of wallco inc and related companies for 145 mln dlrs
the suspension comes after the bank yesterday gave 1145 billion pesetas assistance a record high for this year
add to this the fact that manila has frozen principal repayents since 1983 while venezuela has amortised six billion dlrs in foreign debt since 1984 and will have paid back more than eight billion dlrs by the end of this year one added
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
the campaign to persuade farmers to grow legal crops instead of coca would be financed instead using local currency nogales said
texaco canada inc txc 78 pct owned by texaco inc tx is at 34 7 8 up from a low of 24 1 2
in the year ago period charter reported a loss of 13 mln dlrs
speaking to reporters caputo said the near doubling in trade showed the tangible and immediate results of a wide ranging economic integration accord signed by the presidents of both countries last july
richard gephardt to mandate a reduction in trade surpluses with the us by countries such as japan south korea and taiwan
another bearish factor for the dollar is expected large forward dollar sales from april to june for export bills falling due for japanese exporters from april to september
meanwhile moodys investors service inc said its initial rating of b 1 for the notes remained appropriate
rexnord rex to redeem rights
trade house sources said china is expected to step up its sugar purchases following yesterdays steep drop in world sugar prices
zimmerman said the canadian forest industry council plans to discuss concerns about the us trade bill with lobby groups from other canadian resource industries
anacomp aac acquires datagraphix
the accord reached there means stability in the oil market and we shall continue making our contribution the cuts originally brought in from february 1 would probably be officially approved on july 10 by parliament helle said
harley davidson inc said its wholly owned subsidiary holiday rambler corp filed a registration statement covering 70 mln dlrs of subordinated notes due 1997
pace also said it may purchase additional outstanding notes in the future
however chris tinker uk analyst at brokers phillips and drew said that the faster rise in exports than imports would prove partly aberrational in coming months
that doesnt do a thing for us lyng said
mcdonalds said it intends to issue the securities from time to time denominated in us dollars and or other currencies including european currency units
leaders of the american soybean association and the national soybean processors association offered specific loan options to usda secretary lyng in last weeks meeting but participants would not reveal what those options were
day to day operating costs of the exploration and production sector had been cut 10 pct last year and the target is to keep costs per barrel constant
first dealings will take place this wednesday march 4
total brass mill shipments increased to 69600 tons in january from 54400 tons in december while receipts rose to 63800 tons from 47100 tons
prices have fallen steadily since the international coffee organization failed in february to reach an agreement controlling exports by its members and pressure was renewed this week as the executive board of the organization met in london without reopening debate on its export quotas
assays ranged from about 035 ounces of gold per short ton over a 150 foot interval at a depth of 350 to 500 feet to about 11 ounces of gold per ton over a 65 foot interval at a depth of 200 to 410 feet
corning glass works said it bought a 50 pct interest in technology dynamics inc a woodinville wash company involved in research and development of fiber optic sensors
all previous selloffs since mid november have stopped and buyers have surfaced at that level keefe said
shr 18 cts vs 27 cts net 283000 vs 435000 revs 978 mln vs 951 mln
dealers said this tended to confirm the markets impression that major industrial countries had agreed at the paris meeting on an effective floor for the dollar of 148 yen and the market seemed ready to test it
the world bank african development bank european community canada belgium west germany britain sweden italy and denmark had contributed to the package he said
european community ec member states have generally given a cool initial reaction to proposals by the european commission for cereal price changes and related measures in the coming season ec diplomats said
the company said extreme heat from the fire caused severe rock degradation along several ramps and drifts in the mine
their concerns include the countrys high rates of interest and tough restrictions on imports
he said it is clear that the increased flow of non oil tax revenues coupled with the prospective further growth of the economy in excess of the growth of public expenditure puts the public finances in a very strong position lawson said the treasury would strive to keep the psbr at 10 pct of gdp in future
new york cocoa traders reacted with caution to todays developments at the international cocoa organization talks in london saying there is still time for negotiations to break down
but the group said it might buy more moore handley shares
it also sold 315 billion worth of 850 pct november 2002 stock at an average price of 9724 pct and average yield of 883 pct against 898 pct when it was last sold on january 8
if they want to lay off the workers fine but we are determined to carry on with our protest until the end a union leader said
the bank board said the average effective commitment rate for fixed mortgages with a maturity of at least 15 years for new home purchases dropped to 954 pct in early february a 30 basis point decline from early january
currency instability will not last sumita
helm resources inc said that pursuant to the exercise of an overallotment option by underwriters in bamberger polymers incs initial public offering it has sold another 35000 bamberger shares and reduced its ownership in bamberger to 51 pct from 55 pct
snow reached from south central montana across wyoming western nebraska and western kansas
i think what we have to face now is trying to preserve our economy the one time chairman of merrill lynch and co inc mer said in an interview on the abc television network
he recommended we should not lock ourselves into formalized procedures for international negotiations on exchange rates but instead use other more flexible means like the recent mmeting in paris between us treasury and central bank representatives and those of major trade allies
members also agreed at the ipma meeting on the implementation of a new communications system which enables a lead manager to invite all potential management group members in to a deal at the same time
the deficit is expected to total 289 billion dlrs in fiscal 1989 and 286 billion dlrs in 1989 and then fall to 261 billion dlrs in 1991
the consumers group is now holding a separate meeting ahead of further consultations within the presidents group tonight
blockbuster entertainment bbec selling unit
it said 75 pct of early rice fields are ready to be planted and seedlings have already been transplanted on 90 pct of rice fields in hainan island
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
dow dow to offer 130 mln dlrs in swiss notes
but pentagon spokesman fred hoffmann said that reports the naval strike force was in the region did not mean the united states was sending a new warning to iran against escalating attacks on shipping in the persian gulf
the rating agency said the action reflected a substantial increase in saskatchewans budget deficit for fiscal 1987 and prospects for greater tax supported debt in the medium term
additional capital inflows of 15 billion dlrs so far this year have boosted mexicos reserves to about eight billion dlrs director of public credit angel gurria told reporters
the us agriculture department made the following supply demand projections for the 1986 87 seasons in mln bushels with comparisons unless noted corn 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 767 767 834 834 harvested 692 692 752 752 yield bu 1193 1193 1180 1180 supply mln bu start stock 4040 4040 1648 1648 production 8253 8253 8877 8877 total x 12295 12295 10536 10536 x includes imports
apparent confusion in the ranks of the g 5 nations has encouraged the market to challenge the authorities despite concerted intervention by the central banks of the united states japan britain and west germany they said
it gave no more details
liquid air corp lana quarterly dividend
zenith national insurance znat qtly dividend
gencorp officials had no comment on general acquisitions statement but a spokesman reiterated an earlier request to shareholders to wait until its board renders an opinion before making a decision on the general acquisition tender
el paso electric elpa reaches new mexico pact
the us civilian unemployment rate was unchanged in february at 67 pct
he 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
the seven year ntpc bond was oversubscribed three times brokers said
borg warner says it discussed possible takeover with irwin jacobs
semegran expects first quarter earnings of about 185 dlrs a share from 167 dlrs last year
marshall has been named president and co chief executive officer sharing power in the latter post with founder and chairman nolan k
trygve myhren chairman and chief executive of american television and communications said the unit is looking at getting involved in the home shopping video area
there is no need to continue the strikes for the moment now the immediate pressure of redundancies has been lifted rosenmuller said
los angeles based engineered magnetics designs and produces custom power conversion systems mainly for use in the defense and aerospace industries
under terms of the agreement santa ana calif based meridian said it will pay columbus based american dynamics one mln dlrs in cash and notes over five years and about 500000 shares of its common stock
the director doresy gardner resigned in a march 10 letter to the purolator board which was included in a filing made by the company to the securities and exchange commission
service industries unlike manufacturing industry were continuing to do well because they relied on consumer demand it said
the treasury said in a statement the annual yield of the seven year certificates will be indexed to 50 pct of the annual yield of 12 month treasury bills
we are certainly within reach of our 15 mln tonne export target for the year he said in a statement
april illinois river ex chicago 160 pct bid offered 10 points higher at 170
the fed set a 60 day period for public comment on the plan
in a separate announcement the company said it expects to record revenues of approximately 150 mln dlrs for 1987
claremont previously disclosed in december that it had agreed to act in concert with walsh greenwood and co an affiliated investment firm to acquire champion products
speaking to the national grain and feed association ngfa convention here yeutter said he is cautiously optimistic the controversial oils tax proposal will be rejected by the ec council of ministers
these factors indicate the company may be unable to continue its existence
the png geological survey paper noted there are five large prospective but little explored sedimentary basins in png
haiti czechoslovakia join cocoa organization
for most of the period of communist rule the land was organised into collectives where there was little room for individual initiative
after the merger viacom will be a subsidiary of national but 17 pct of the company will be in public hands
the company is cooperating in the commissions investigation which is continuing and now includes the taking of testimony of employes and others allegheny said
the company reported a net loss for the year of 2408000 dlrs or 82 cts a share
technigen platinum corp said 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
however all business sectors contributed to the positive results achieved in 1986 krupp added without giving details
yeutter said difficulties in the japanese economy caused by the us tariffs and the yens rise against the dollar are problems they have brought on themselves the dollar fell to 40 year lows against the yen today
the two sides usually try to meet as each new year of the agreeement approaches although the last meeting was delayed up to last february
press representatives were not invited
the hong kong economical journal quoted a spokesman of jacksons as saying barwon plans to set up a branch in the philippines to meet the criteria
keycorp is offering 75 mln dlrs of subordinated capital notes due 1999 with an 840 pct coupon and par pricing said sole manager first boston corp
stone and webster inc sw sets quarterly
the senate agriculture committee was expected to consider proposals that would limit adjustments in county loan rate differentials which trigger larger corn and wheat acreage reduction requirements senate staff said
canada sets grant for eureka research
but robert hormats of goldman sachs and co said he was not worried by greenspans lack of international experience
official sources said the government was also planning to abolish import duties on fertiliser and agricultural equipment with the liberalisation measures would be extended to other areas of industry later
a group of affiliated new york base investment firms and funds told the securities and exchange commission they have acquired 453300 shares of purolator courier corp or 59 pct of the total outstanding
dome petroleum ltds loss of 220 billion dlrs believed to be the biggest ever by a canadian company will have little impact on daily operations but will pressure creditors to accept a proposal to restructure domes debt of more than 610 billion dlrs industry analysts said
amoskeag bank shares inc amkg 1st qtr net
two us bancorp usbc units merge
diamond shamrock dia cuts crude prices
unilever plc and nv unas has issued a prospectus through investment bankers goldman sachs and co seeking a buyer for stauffer chemical co of the us which it acquired with the recent takeover of chesebrough ponds inc a unilever spokesman said
the central bank said italys one billion dlr eurobond launched last month contributed to septembers surplus
japan to promote interest rate liberalisation
new zealand has imposed sanctions against fiji in response to that countrys change of status to a republic acting prime minister geoffrey palmer said
the united states is really the odd man out abegglen said
rebates requested ranged between 134 and 13650 european currency units ecus a tonne for the feed wheat 13739 and 14150 ecus a tonne for the bread wheat 13793 and 14295 ecus for the barley and 13375 and 14025 ecus for the maize
a year before it lost 8084000 dlrs after a 6600000 dlr pretax provision for plant closings
qtly div 10 cts vs 10 cts prior pay april 24 record april 14
a full council meeting was set for 1900 hours for a progress report delegates said
the total was still the second highest ever reported but it was the first time income had not grown since 1961
about 200 people were rescued some badly hurt from a sinking cross channel ferry carrying approximately 540 people off the belgian port of zeebrugge a port control spokesman said
japan told the general agreement on tariffs and trade that south koreas five year import diversification plan violated the spirit of the world trade governing body a foreign ministry spokesman said
it is commonplace to have trades of 100 mln dlrs or more in 10 years seven years or five years all related to an interest rate swap or hedging of a eurobond deal jones said at a recent conference on the us treasuries market
processors and chocolate manufacturers said consumer prices for cocoa products were unlikely to be affected by buffer stock buying for some time to come
we have now cleared three auctions and are left with only four worth eight mln dlrs the spokesman said without specifying the amount paid out
credit national is issuing a one billion franc convertible bond issue in two tranches both paying 850 pct and in 5000 franc units lead managers caisse nationale de credit agricole union de garantie et de placement and morgan et cie said
shareholders of colonial will receive between 36 and 44 shares of dauphin common stock for each share of colonial depending on dauphins current market value it said
he listed environmental questions particularly acid rain and defense as the second and third most important bilateral issues facing ottawa and washington
montgomery securities co managed the deal
the bond is available in denominations of 10 mln yen and will be listed in luxembourg
ccc guarantees to turkey switched to meals usda
the rate compares with 124 pct at the end of february 1986
s and p cut chemicals and the unit chemical new york nv s senior debt to aa minus from aa and subordinated debt to a plus from aa minus
soybean crops were reported to be in generally very good condition helped by abundant rains and high temperatures
the bank which raised its rate for ordinary overnight assistance to 13 3 4 from 13 1 2 pct on wednesday opened its special borrowing facility for overnight funds at 14 1 2 pct
wichita wro to buy fountain oil fgas 
chairman clive knobbs said in the annual report the mine was expected to mill a higher tonnage while capital expenditure during 1987 will be around 1185 mln rand
the only sure way to keep prices stable is by processing adding more value he said
krowe ibm said
thai officials told they were optimistic the new pact was viable because it strictly limited the extent of debt the inra buffer stock manager might commit to his market operations
cpi corp cpic to post higher 1986 results
molecular genetics inc mogn 4th qtr loss
he said the us would take serious retaliatory action because if implemented the tax would have a considerable impact on us farmers
revlon currently has about 42 mln shares outstanding
the overhaul is expected to end by late april
baldrige expressed concern that the sale would leave the us military dependent on a foreign company for vital high technology equipment
the method of issuance will be the issuer set margin system under which leucadia will determine the spread over the london interbank offered rate libor leucadia has already established a euro commercial paper program for which merrill acts as dealer
credithrift financial corp said its board authorized the redemption of the companys 820 pct senior notes due dec 15 1987
wang said he would look closely at the combined operations of the two companies and cut duplication in sales marketing and research and development
for banks compliance with the ruling could indeed be a nightmare since they dont fund loans on a individual basis
the fed said that business loans including acceptances declined 492 mln dlrs to 28056 billion dlrs
because of the disruption to business from carnival minimum reserve figures for the start of the month are unrealistic making it difficult for banks to assess their needs at the tender
the offering will include an underwriters over allotment option of up to 15 pct of the principal amount the company said
anova ventures sets dividend in duevel shares
the trade subcommittee backed away from mandating specific retaliation against foreign countries for unfair foreign trade practices as the house had approved in a trade bill last year
dart group corp dartao said it has no comment on reports the company has been accumulating shares of dayton hudson corp
the stock will be offered for sale between march 17 and 19 and will be listed on all german stock exchanges from march 20 to 24
greyhound agrees to acquire trailways routes
they the stockpiles stand to gain the most by being managed properly said the staffer
winter wheat fair to good condition
he said there could be no assurance that a joint venture would be formed or that caesars would agreed to talks
south korea raised its pre tax ex factory naphtha price to 10421 won per litre from 10397 won effective today energy ministry officials said
soviet flag tankers transporting kuwaiti oil through the gulf may get soviet escorts the officials said
this had to be taken into account when considering recent rises in repurchase pact allocation rates which were due to rising international money market rates that had spilled over into the german market he said
webcor wer says bank demands payment
egypt has cancelled its export bonus tender for 200000 tonnes of soft red winter wheat for may june shipment after failing to bid a price acceptable to usda private export sources said
marines began blockading the ships on friday after the strike was ruled illegal and some strikers are running short of food national merchants marine union president edson areias said
rabobank not anticipating a strong two day rally in dutch bonds on wednesday set an issue price of 9950 pct for a 625 pct eight year open mortgage bond giving it a yield about 1 4 pct higher than the market average
last year the government announced a major program designed to cut 1987 spending by 195 billion francs
second because the market response has shown that banks have much less to fear from this sort of move than they felt before citicorp he said
another incentive to sell might be trade anticipation of a reduction in the us government soybean loan rate offered to farmers who give crops as collateral eshleman said
vernitron vrn sets record date for merger vote
ltd of seoul for a steel works in pohang south korea
the cause of the fire was not known
qtly div from income 51 cts vs 3035 dlrs in prior qtr including capital gains of 2978 dlrs payable march 27 record february 27
houston lighting recently exchanged 390 mln dlrs of high coupon bonds for nine pct bonds saving about 11 mln dlrs in annual interest costs
indonesias foreign debts are a cause for concern but remain within manageable limits world bank president barber conable said
greenwood resources inc said it has sold its 4300000 common share majority holding in new london oil ltd of london to an affiliate of guinness peat group plc of london and an affiliate of sidro sa of belgium for a total of 17000000 dlrs in cash
new zealands current account deficit narrowed to 180 mln nz dlrs in january from 203 mln revised from 207 mln in december and 305 mln in january 1986 in a smoothed measurement the statistics department said
the spokesman declined to comment on the toronto globe and mail report when queried
a successful new gatt general agreement on tariffs and trade round is needed to halt growing bilateral trade problems between major trading partners us trade representative clayton yeutter said
united illuminating co said that if the department of utility controls approves an earnings stipulation agreement submitted march 18 it will reduce through accounting procedures its 1987 noncash earnings by 16 mln dlrs or 115 dlr per share
while japan has already done about all it can to make sure the chip pact is working the government is studying measures it can take in other fields to defuse american anger and ensure the trips success they said
in january capital repayments totalled 14 mln dlrs with a valuation change that resulted in a fall of 41 mln dlrs due to the quarterly rollover from the european monetary cooperation fund swap
the closure of the haitian american sugar company hasco will idle 3500 employees and affect as many as 30000 to 40000 small sugar cane planters in regions around the capital the company said
the non callable bonds are guaranteed by fuji bank ltd
italy has shown interest in british new crop wheat recently but the actual volume booked so far by italian buyers has not been large traders said
most of the surplus is expected to come from trade with the us taiwans largest trading partner and importer of nearly 50 pct of taiwans total exports he said
degroot who will remain a director of the company after giving up the post of chairman to one of seizers board nominees
robert watson a program manager for atmospheric problems at the us national aeronautics and space administration said a protocol should demand an initial freeze on the use of cfcs by industry
reynolds metals rlm to restart idle potline
the general government expenditure for the coming fiscal year is expected to total 1735 billion stg up from a revised 1649 billion in the current year
sumitomo bakelite co ltd a japanese company told the securities and exchange commission it has acquired 325000 shares of sheldahl inc or 107 pct of the total outstanding common stock
shr 25 cts vs 26 cts net 2200000 vs 2100000 revs 8500000 vs 9600000 nine mths shr 77 cts vs 63 cts net 6900000 vs 4800000 revs 279 million vs 253 million
new applications for unemployment insurance benefits fell to a seasonally adjusted 340000 in the week ended march 7 from 373000 in the prior week the labor department said
first chicago fnb unit buys banks
caisse nationale des telecommunications is issuing a 20 billion yen eurobond due may 29 1992 paying 4 3 8 pct and priced at 101 1 2 pct lead manager ibj international ltd said
the tokyo commodity exchange for industry tocom said it will allow five more members to become precious metal brokers taking the total to 54 and four more members to broke rubber for a total of 39
the dollar reacted immediately to the news rising over two pfennigs in after hours new york trading dealers there said
the bp official said the 70 dlrs a share offer is 72 times standards 1986 cash flow and 56 pct above an independent evaluation of the companys assets including the value of its oil natural gas liquids and natural gas reserves
baker international has proposed a merger with hughes tool which could create a 12 billion dlr oilfield services company
some governments including austria had linked their final approval to other trade credit issues which would be discussed at a meeting here in mid april they added
it has expanded overseas entered the lucrative securities business and geared up for domestic competition but they questioned the wisdom of some of those moves
up to 30 billion yen has been allocated for purchasing redundant land and equipment from shipbuilders
dealers said the large banks probably achieved average rates of return on their excess funds of between 375 pct or four pct
egyptian central bank dollar rate unchanged
to counter falling oil revenues the government has launched a series of measures over the past nine months to boost exports outside the oil sector and attract new investment
analysts say uk budget points to base rate cuts
controversy exists over whether the 0 92 provisions of the bill should be expanded cut back or left as is
american aircraft corp said it has acquired a 51 pct interest in privately owned hunter helicopter of nevada inc for an undisclosed amount of stock
william crowe chairman of the us joint chiefs of staff predicted iran will retaliate for the us strike against its oil platform though he said iranian options were limited
it seems to me the short of it is borg warner is kind of between a rock and a hard place
trumps offer beat out a rival bid of 135 dlrs a share made by pratt hotel corp prat resorts said that under the proposal made by ksz existing class a and class b shareholders would control about 96 pct of the outstanding common of the new company formed to acquire resorts
outokumpu restructures copper division
longview fibre co lfbr quarterly dividend
moodys investors service said it is reviewing 648 mln dlrs of securities issued by atlantic city electric co for a possible downgrade because of an unresponsive rate order from the new jersey board of public utilities
the oecd predicts a similar combination of modest economic growth and rising unemployment for new zealand which is struggling to recover from a major economic crisis
mhi group inc said it is affiliated with several investors who have entered into a letter of intent providing for the purchase of star of david memorial gardens and cemetery
major increases for west germany belgium spain italy and australia were partially offset by declines to unknown destinations
nmic has not operated its plant in the southern philippines since march 1986 after workers struck demanding payment of salaries delayed because of the firms financial difficulties
oil production totalled 176 mln cubic metres last month and natural gas production 102 mln cubic metres down from 195 and 115 mln cubic metres in january respectively
there were signs of reawakened investor nerves affecting trade in the floating rate note market which yesterday started the week extremely quietly after a hectic sell off last week
in a related development small regional banks that have made loans to brazil and other heavily indebted latin american countries will meet with federal reserve chairman paul volcker here tomorrow
conrac is a producer and marketer of computer related information display and communications equipment which also produces special purpose architectural and industrial products
la land llx du pont dd get exploration tracts
the international wheat council iwc lifted its estimate for 1986 87 world wheat and coarse grain production by one mln tonnes to a record 1377 mln compared with 1351 mln tonnes the previous season
peoples savings bank pebw raises quarterly
for export it rose eight to 108 per tonne from bahia blanca increased 050 to 104 at necochea and was unchanged at rosario at 10830
national pizza co said it reached an agreement in principle to buy seven straw hat pizza restaurants and certain related real estate for approximately three mln dlrs in cash
urging the administration oppose the canadian decision to apply a duty on us corn imports and a proposal by the european community to apply a vegetable oils tax
but total operating and extraordinary profits including earnings from currency and securities trading on the banks own account and earnings from the sale of holdings in other firms were more than double the previous years level amb said
gulf resources and chemical corp gre 4th qtr
campbell red lake crk sets quarterly dividend
if that is the case you should recognize that our additional equity capital may very well enable us to offer cash and securities having greater value than gencorp could provide in any similarly structured transaction the partnership said
japans custom cleared trade surplus narrowed to 161 billion dlrs in the first 10 days of june from 197 billion a year earlier the finance ministry said
the central bank sources also said japan may arrange other currency swap agreements with britain and france if they find it necessary but added they are not actually talking with each other towards that end
shr four cts vs 12 cts net 248000 vs 647000 revs 237 mln vs 219 mln
testifying before the house agriculture subcommittee on wheat soybeans and feedgrains robbin johnson vice president of cargill inc disputed claims that us grain companies have made huge profits from certificate trading
but it faces stiff opposition in the house banking committee which has blocked its consideration by the house in the past
highveld said measures taken last year by the european economic community and the united states prohibiting all south african steel products presents a challenge to management to place the steel in other areas the company said overall world vanadium consumption in 1987 is expected to be similar to last year although chinas role is still an unknown factor in the total supply demand situation
the airlines said it sees the service as an option for business travellers
the cartagena group which has not met at ministerial level for over a year wants to repay debt contracted before the debt crisis at the low interest rates prevailing in the 1970s
the 218 page report written by ftc economists john hilke and philip nelson blamed the rising trade shortfall which climbed to a record 1663 billion dlrs last year on shifting currency exchange rates and growing us consumer demand
this bings the total amount that must be charged against earnings to 2326 mln dlrs after taxes southern said
prior to the change county prices were also priced against the amarillo market
us agriculture undersecretary daniel amstutz said he was confident that a european community ec proposal to tax vegetable and marine oils and fats would not be approved by the community
the ball is in irans court now
the finance units subordinated debt which is guaranteed by the parent is rated b plus
the idb was established by the 46 member islamic conference organisation and opened in october 1975
industry sources said that despite huge resources saudi arabia had been unable to mould an oil marketing strategy tuned to the competitive realities of the 1980s glut
it said the issues include an immediate payment of 57 mln dlrs to sgl chairman leonard lieberman executive vice president james dougherty and financial officer murray levine
the non callable issue is available in denominations of 10000 and 1000 stg and will be listed in luxembourg
he acknowledged the us trade deficit was persisting despite a decline in the dollars value of 40 to 50 pct in the past two years
1985 4th qtr excludes a loss of 4570000 dlrs and 6330000 dlrs respectively for discontinued operations
1335 mln crowns vs 101 mln
traders detail french cereal export requests
non callable for three years the debt is rated b 3 by moodys investors service inc and ccc plus by standard and poors corp
however some traders sold contracts to take profits after the extended rally which has seen the april delivery contract soar to 6990 cents a pound from 56 cents a pound at the start of the year
however equity accounting of associates profits reduced the loss to 24 mln dlrs against a 37 mln profit in 1985
bayer paid a 10 mark dividend on 1985 results up one mark from a year earlier
japanese demand for uk gilts seen rising
it said drilling has indicated substantial sulphide reserves with a gold grade of about 01 ounce a ton and early tests show the gold ore responds to bioleaching
xyvision issues convertible eurobond
proceeds from the new notes and bank facility will be used to terminate the companys current revolving credit facility by repaying the approximate 400 mln dlr balance it said
he said the pact could resolve the knotty issue of government subsidies end curbs on trade in services and investments and pave the way for new global talks under the general agreement on tariffs and trade
avnet avt files convertible debt offering
oilseed processing at the plant has been halted since december 19 when mill workers walked out in protest at new contract manning levels
note full name of company is aegon nv aegnas
an advertisement placed in the newspapers by the shipowners association read the seamens strike is illegal irrational and unpatriotic the seamen respond that they cannot live on their present salaries
china could not afford to become a major food importer he said
the acquisition was contingent on its ability to obtain financing to fund the 19 mln dlr cash portion of the purchase price intercare said
petrobras said in its statement that the company would meet union leaders for pay talks in rio de janeiro next wednesday
anheuser busch companies inc budn has joined several other foreign bidders for sequestered shares of the philippines largest food and beverage maker san miguel corp sanmmn the head of a government panel which controls the shares told 
the move by toshiba comes in the middle of a dispute over japans refusal to open up its telecommunications market to foreign companies
the company said the merger is expected to be completed after mid year following regulatory approval
the agreement will have an eight and one half year term and a fixed interest rate of 613 pct
also includes writedowns of oil and gas assets and tubular goods inventory of 822 mln dlrs and 4246000 dlrs respectively for 12 mths
some of the disputes dating back about 20 years were brought by groups that alleged improper foreign payments and political contributions
a council communique said the sale was made at the best prevailing conditions in the world sugar market
unlike current debt equity schemes ongpin said the pins would include no government fees and would be free from administrative hassles he said about six investment banks had been approached and four had replied so far
the transfer was arranged because there were no bids to buy beaver creek the fdic said
temples were unchanged at 34 mln boxes
the bank of japan is expected to encourage the trend following its attempts to pressure rates to enhance its discount rate cut on february 23 they said
weston earned 492000 dlrs in last years first quarter
nor quest resources inc said it will make a takeover offer to acquire all shares of northair mines ltd on the basis of one nor quest share plus one dlr for two shares of northair
we at all times told the public everything we knew about the costs he said
dealers said a larger amount of funds in the form of interest and repayments on state loans went out than came in the form of tax payments to the state
opec production curbs have boosted world oil prices from a 13 year low of around eight dlrs a barrel last august to near 18 dlrs after announcement of the december pact
the bank of england proposed that banks in britain for the first time will have to seek authorization to be lead underwriters of new issues in the euromarkets
abnormal radiation found in soviet tea hazelnuts
mobil mob raises west coast crude postings
any decision in principle to set up relations would require approval by the communitys council of ministers and by the executive committee of comecon
ibc registers 14 mln bags of export sales
financial corp fin unit buys branches
deutsche bank capital markets is the other joint lead manager
he said peru exported 1381009 quintales to ico members last year with a value of around 230 mln dlrs and another 235092 quintales valued at around 35 mln dlrs to non ico members
shr 24 cts vs 13 cts net 1506000 vs 824000 sales 9045000 vs 7845000
the reserve for loan losses was 781 mln dlrs or two pct of outstanding loans higher than the 56 mln dlrs of 165 pct of loans outstanding at march 31 1986
1985 4th qtr and yr oper net exclude realized investment gains of 439000 dlrs and 666000 dlrs respectively
but he told the banks annual news conference this did not mean a cut in leading interest rates rather a reduction in money market rates through bringing the allocation rates down for bundesbank securities repurchase agreements
sources close to italian state owned investment bank imi said earlier this month that a convertible issue was being considered but gave no details of the amount involved
they sat down together to discuss the implications for latin america and feel each other out on the best way out a wright aide said of the meeting
last month balladur said french gdp had grown by just two pct last year compared with an initial 1986 target of 25 pct and 11 pct growth in 1985
the transaction included 140 mln dlrs in cash and stock and the assumption of a 299 mln dlrs mortgage
neti technologies inc said american telephone and telegraph co agreed to sell netis document transfer software
commerce minister mohammad abdul munim said the changes were aimed at encouraging export oriented industries to boost foreign exchange earnings and imports of essential machinery and raw materials to increase industrial production
world coffee export quotas the major device used to regulate coffee prices under the international coffee agreement were suspended a year ago when prices soared in reaction to a drought which cut brazils output by nearly two thirds
the trust last paid 12 cts on january 28
new zealand imposes sanctions against fiji
but i really think the chances of that happening are between slim and none he added
shr loss 67 cts vs profit 60 cts net loss 1398000 vs profit 1250000 revs 8834000 vs 209 mln year shr loss 281 dlrs vs loss 15 cts net loss 5864000 vs loss 310000 revs 521 mln vs 827 mln
we believe it is adequate and will be accepted she said the proposed transaction was unanimously recommended by the board of directors and principal shareholders of electrospace
the agriculture ministry declined comment on a local newspaper report that japan had agreed to hold talks on its closed rice market in the new gatt round
shr seven cts vs four cts net 161000 vs 107000 revs 5852000 vs 4794000 nine mths shr 23 cts vs 24 cts net 553000 vs 610000 revs 182 mln vs 142 mln
we are going to see a very rapid decline earlier than usual this year in our us exports loewy said
a us embassy official said the us did not accept pekings trade figures at all mainly because they exclude goods shipped to hong kong and then trans shipped to us while us figures are based on country of origin
i dont know if we will go this route but if we do theres a question in my mind at this point in time can you do that legally he said
the ministers have said they want to maintain the momentum towards fresh negotiations or avert serious trade conflicts
even before he started operations traders estimated the manager would need to buy at least up to his 75000 tonnes maximum before prices moved up to or above the 1600 sdr level and yet he appears reluctant to do so one manufacturer said
a finance ministry economist said the government did not expect to have any trouble keeping to its plan to borrow only a net 223 billion marks this year
british land co plc blndl convertible eurobond issued yesterday has been raised to a total of 33 mln stg from the 30 mln originally indicated lead manager credit suisse first boston ltd said
the bank of englands announcement was quickly followed by barclays bank and national westminster bank which announced a half point cut in their base rates to 10 pct from 10 1 2 pct
output had slumped to under 450000 tonnes a year from 900000 in the late 1970s
by drawing attention to us in our discussions it means that others may be a little reluctant to come forward he said
bundesbank leaves credit policies unchanged
cargill confirms white sugar sale to india
soybean plantings could drop to 59 mln acres or below they said compared to last years level of 615 mln acres
five of the plants are located in the united states
skippers inc skip semi annual dividend
the cpb forecasting an 85 pct increase in the value of the guilder on a trade weighted basis compared with 100 pct last year said the dollar was expected to trade at an average of 20 guilders in 1987 compared with 245 guilders in 1986
marcano said a telex sent to venezuelas 450 creditors seeks support for the governments foreign borrowing plans which are aimed at aluminium steel and iron ore projects
the basic meaning for europe is that japanese firms have a tremendous interest in exporting to europe where every unit sold maximises profits in yen terms which is what is important to them
swett who was finance minister of ecuador between august 1984 to june 1986 added with the private foreign banks there has been a ceasing of payments by ecuador
1986 nine mths net also includes aftertax earnings of 2256000 dlrs or 22 dlrs a share for american medical international inc ami contracts which expired july 1986
a one cent a pound rise in copper prices yields 10 mln dlrs in annual earnings for phelps dodge the company said
charter power systems inc chp 4th qtr jan 31
mcandrews said terms of the acquisition have not been determined and are subject to the acquisition of financing
there are about 15 mln messidor units issued to the public consisting of one share of common stock four class a common stock warrants four class b common stock warrants and four class c common stock warrants
bp 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
uae trade current account surpluses narrow
analysts and market sources view the twa bid as an attempt to either trigger a counter offer from usair or to attract a suitor who might want both airlines once they merged
pmi fund inc said its board declared monthly dividends of six cts for april four cts for may five cts for june seven cts for july and six cts for august
conger said he anticipates 1987 exploration budget will be about the same as 1986 spending of 273 mln dlrs
the rebound occurred after standard and poors corp downgraded the debt ratings of 84 billion dlrs of debt of texaco and its subsidiaries to d traders noted
in 1986 portugals economy grew four pct its current account surplus swelled to more than one billion dlrs and inflation fell to 10 pct from 20 pct in 1985
security pacifics 17 billion dlrs of debt was downgraded
representatives of the republic of chile and its 400 plus international bank creditors started signing agreements to reschedule 106 billion dlrs of the countrys foreign debt manufacturers hanover trust co said
darts holdings amounted to just under five pct of dayton hudson
he said that since most growers did not irrigate their crop they could do nothing but wait for rain the main factor which determines kenyan coffee production
but two top german officials state secretaries otto schlecht and hans tietmeyer told reporters bonn saw no need at the moment for action to bolster the ecs biggest economy
fees comprise 85 basis points selling concession and 70 basis points for management and underwriting
the companys stock last traded on the toronto stock exchange at 19 3 8
the company also changed the stocks par value from 10 dlrs a share to 250 dlrs a share
new england electric system nes two months net
the checks will be redeemable at participating dealers in the new york metropoliutan areas through may two and are in addition to any low percentage rate financing or cash incentives the company is offering
recent published reports in canada quoting senior trade sources said the countries were close to reaching a trade deal and it will involve eliminating border trariffs and many non tariff barriers over the next 10 to 12 years
it was underwritten by drexel burnham lambert inc kidder peabody and co and salomon inc
youre dealing with substantially lower volume mulligan said
brazilian finance minister dilson funaro met his swiss counterpart otto stich swiss economics minister jean pascal delamuraz and national bank president pierre languetin on the fourth leg of a tour to discuss his countrys debt problems
the salvage measures which include a government sponsored rationalisation program are aimed at clawing back some of the market which japan the world leader has lost to south korea through currency and labour cost disadvantages they said
the compounding ratio rose to 22 pct from 21 pct
the market reacted nervously because the dollar has been moving narrowly against the yen since mid january sumita said
the company which announced the split last week had said the record date for the split is may 29 1987
today rumors circulated that coniston partners were buying ual stock
ramada inc ram files for note offering
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
shr loss five cts vs profit eight cts net loss 152000 vs profit 214000 revs 62 mln vs 24 mln year shr profit 22 cts vs profit 33 cts net profit 809000 vs 853000 revs 224 mln vs 79 mln
the paris declaration did not state the levels at which central banks of the major industrialised countries would intervene
money market rates recovered up to 1 4 point from earlier lows while both sterling and gilts came off highs as trading ground to a near halt
metropolitans sec filing was made as a shareholder group with hack
we now buy some products from hitachi in us dollars and the results are starting to show up in the second quarter he said
the company said its board recommended that shareholders approve the merger of the oilfield service companies
gmac unit issues 50 mln australian dlr bond
others said cooperation between central banks and governments was easier said than done
youcef yousfi director general of sonatrach the algerian state petroleum agency indicated in a television interview in algiers that such imports would be made this year
she said she expected the yield on the actively traded 11 3 4 pct gilt due march 2007 to dip below 95 pct against 9581 pct at yesterdays close in london
january 31 end oper shr profit 16 cts vs loss six cts oper net profit 2879000 vs loss 958000 revs 419 mln vs 241 mln avg shrs 182 mln vs 158 mln year oper shr profit 49 cts vs profit 18 cts oper net profit 8660000 vs profit 2832000 revs 1418 mln vs 875 mln avg shrs 178 mln vs 158 mln note net excludes extraordinary tax charge 156000 dlrs vs credit 2257000 dlrs in quarter and credits 1041000 dlrs vs 3589000 dlrs in year
they continued the process of multilateral surveillance of their economies pursuant to the arrangements for strengthened economic policy coordination agreed at the 1986 tokyo summit of their heads of state or government
publishers equipment corp said it reached an agreement to incorporate flexo printing technology into the tentonian an ingersoll newspaper in trenton nj it said that mid 1988 will be the target date for start up for the new equipment which will double the size of its present press
the company said following this transaction time now owns 82 pct of american television
the company which owns and franchises a total of 237 clothing outlets where all articles cost six dlrs will increase that figure to seven dlrs starting march 1 schenker said
while negotiations on terms and interest rates of its bank loans are not yet complete usair said it expects them to be in the form of a one billion dlr two year term loan and a one billion dlr seven year revolving credit facility
the april index base 1980 was set at a provisional seasonally adjusted 1973 up from 1948 in march
iomega iomg sets management labor layoffs
coffee earnings were down to 110 mln dlrs against 295 mln in february 1986 because of lower prices he added
sen
in fiscal 1987 usda said consumers are paying nearly two billion dlrs more than necessary for sugar
the february index was down one pct from a year earlier for the third consecutive year on year drop
weyerhaeuser wy offers preferred shares
marion labs mkc votes split dividend hike
the rating agency cited elevated levels of non performing assets that are concentrated in real estate lending
the consensus is that the chinese will buy between 200000 and 400000 tonnes of raw sugar
belgrade tanjug says yugoslavia reaches paris pact on refinancing part of debt
under the agreements conrac president paul graf would get a cash payment of twice his annual salary which was 209906 dlrs last year if there were a change of control in the company including acquisition of 30 pct or more of the companys voting stock conrac said
german cost of living falls in march on year ago
the firm said it now plans to offer 150 mln dlrs of convertible subordinated debentures in the eurodollar market
latest year net includes pretax gains of 166000 dlrs in quarter and 4420000 dlrs in year from pension plan reversions
he also told he did not expect any increase in colombias financing needs as a result of current falling coffee prices after a surge last year doubled export income from this source to around three billion dlrs
trw inc trw 3rd qtr net
financial security fssla to sell branch
if you dont deal with the budget deficit everything else you do is going to be counterproductive volcker said in recent testimony before the senate banking committee
shr loss 21 cts vs loss seven cts net loss 971000 vs loss 318000 revs 83 mln vs 92 mln year shr loss 43 cts vs profit 14 cts net loss 19 mln vs profit 606000 revs 325 mln vs 319 mln note1986 loss includes reserves of 329000 1985 includes tax benefit of 352000 96000 and 570000 dlrs1986 4th qtr includes 850000 dlrs writedowns 499000 dlr gain from sale
thailands exports in february were 32800 tonnes and consumption 57800
siebe completes acquistion of ranco rni 
wheeling and lake erie railway co wle div
microtels shareholders include norfolk southern corp nsc m a com inc mai centel corp cnt alltel corp at and ef hutton group inc efh
british minister says he warned tokyo of sanctions
morgan crucible co plc mgcrl said the prospects for 1987 were encouraging with orders and sales significantly up on last year in all divisions
quantum venture ups computer network cmnt stake
finance head martin juenger said he expected around 20 mln francs from sales this year although said much depended on the speed with which it decided to sell its dc 10s
monetary sources have said that the united states had brought pressure on the imf to approve a loan package for mexico using economic conditions that have not been broadly used before but finch according to the sources made no reference to this
he said no date had been set for the next tender
a lot of people may be inadvertently under withholding taxes from their paychecks he said
shr loss 177 dlrs vs profit 15 cts net loss 8036000 vs profit 576000 sales 162 mln vs 172 mln avg shrs 4539437 vs 3816580 1st half shr loss 196 dlrs vs profit 26 cts net loss 8231000 vs profit 996000 sales 309 mln vs 322 mln avg shrs 4205707 vs 3814141 note current half net includes 68000 dlr tax credit
the agency said its review would focus on the implications of danas aggressive balance sheet management on liquidity and financial flexibility
in the balance of services a fall in net investment income led to a 300 mln mark deficit in february after a 300 mln mark surplus in january
the manila based international rice research institute irri said west german agricultural scientist klaus lampe will take over as its director general in early 1988 succeeding ms swaminathan
an important feature of the aid program is a decision to let companies issue flow through shares allowing investors to benefit from the subsidy rather than restricting benefits to only participating companies he said
deputy energy minister fernando santos alvite told a television interviewer that it could possibly take more than a month to repair ecuadors main pipeline linking amazon basin oil fields to the pacific ocean coast
shr profit nil vs loss nil net profit 28565 vs loss 204553 revs 507529 vs 6563 nine mths shr loss nil vs loss nil net loss 404011 vs loss 649495 revs 938345 vs 32535
we dont think that individuals or institutions buy our shares because we were one of the dow jones industrials spokesman ken cherney said in reply to a query
this sum is being financed by a term loan
it said the plan was intended to protect stockholders against any attempt to take unfair advantage of the recent decline in stock prices or to use abusive tactics such as market accumulations which would interfere with its ability to maximize stockholder value
it said work on the contract which was awarded as part of a multi contract procurement program is expected to be completed by march 31 1988
shamrock capital lp said it has completed the sale of cental soya co inc to ferruzzi agricola finanziaria the holding company for the ferruzzi group of ravenna italy
there are signs that central banks too realize the futility of swimming against the tide
earlier it reported a loss from operations of 22 mln dlrs or 471 dlrs a share on revenues of 1146 mln dlrs for 1986
spain is threatened with massive imports from third countries by the end of the year they said
world bank report criticises peru economic plan
the us agriculture department estimated 1987 winter potato production based on march 1 conditions at 2788000 cwts 100 lbs vs 2764000 cwts indicated last month and 2991000 cwts last year
in a filing with the securities and exchange commission financiere credit suisse said it bought 870100 first boston common shares between feb 10 and 27 at prices ranging from 48125 to 53000 dlrs a share or 225 mln dlrs total
general computer corp gccc 3rd qtr feb 28 net
they are payable march 31
kay corp said its balfour maclaine international ltd subsidiary signed a letter of intent to acquire certain assets of a privately owned distributor of specialty fasteners for about 13 mln dlrs plus management incentives which it did not disclose
ah robins co said it filed its consolidated net earnings report for february which amounted to 6720000 dlrs compared to 4646000 for the comparable month the year prior
the london exchange which keeps in touch through the uk governments information channels to the us securities and exchange commission will await further developments he said
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
us house panel eases soviet export controls
justice opposes quick greyhound trailways merger
the uk ministry of agriculture is working with the department of health and the public health laboratory to investigate the whole subject of resistant strains of salmonella
nynex corp will urge the us district court to approve justice department recommendations easing restrictions on offering new services by regional telephone firms chairman delbert staley said
it may drill a further three wells before the end of the extended exploration period the statement said
for one thing traders noted it pays about the highest rate over the london interbank offered rate of virtually any newly issued security
the index fell 03 pct year on year the third consecutive yearly drop reflecting lower food and utility costs
stoltenberg said we remain on a course of expansion
however there is no way of telling how many current crop beans will be declared after the may 1 start of the temporao and thus the true size of the 1986 87 harvest may never be officially registered
some 7000 south african miners return to work
louisiana pacific lpx buys oregon sawmill
the company said shareholders at the annual meeting approved an increase in authorized common shares to 19 mln from 10 mln and a name change to alfa corp
yugoslavia western creditors in debt accord
it is expected that provisional entry into force will take at least 12 to 14 months from now delegates said
the company said the split is subject to shareholder approval at the april 15 annual meeting of an increase in authorized common shares to 10 mln from five mln
he said the new move was intended to balance trade between taiwan and its trading partners
finland february trade surplus at 641 mln markka
it is under separate administration from the tanzania zambia railway linking dar es salaam with the zambian copperbelt and the railway system of southern africa which has already received substantial aid as part of international efforts to ease the dependence of landlocked african states on trade routes through south africa
the chairman of the conference on a new international natural rubber agreement inra manaspas xuto of thailand said it was imperative to try to settle the main outstanding issues this week
geonex corp geox said bellsouth corp bls unit southern bell telephone and telegraph cos decision to postpone the start up of new conversion assignments at geonexs chicago aerial survey unit could negatively affect its fiscal 1987 revenues
the wild card is the increased tensions in the persian gulf said frank knuettel analyst with prudential bache securites
the acquisition proposals had come from theodore l
group net profit 30 mln marks vs 35 mln
irish oil concern boosts cenergy crg stake
the debentures are convertible into the companys common stock at 3035 dlrs per share representing a premium of 2515 pct over the stock price when terms on the debt were set
despite their different approaches to debt garcia and mexican president miguel de la madrid issued a joint declaration yesterday calling the foreign debt problem an expression of the present unjust international economic order but the declaration said that no latin american debtors club was about to appear
proven oil and gas deposits in saudi arabia increased in 1986 despite higher oil output according to the kingdoms main producing company aramco
on tuesday it added reserves directly through two day system repurchases
but results softened from the prior quarter because of low bookings last fall for third quarter shipment and holiday shutdowns it said
analysts said the companys downbeat forecasts helped shares dip to 242p in mid afternoon down 4p from yesterdays close and off an early high of 248p
most analysts said the budget was very sound on the fiscal side but offered nothing new on monetary policy
amfac ama to sell store
the company said a preliminary estimate of the geological resources of one of the properties to a depth of 200 meters indicates a potential of 12 mln ounces of gold and by the middle of 1987 it expects to establish proven ore reserves containing at least 500000 ounces of gold
the bank issued eight billion taiwan dlrs worth of similar bonds last month
world bank president barber conable pledged the banks support to help indonesia adjust to lower world oil prices but said further deregulation of its protected economy was needed
ryan homes inc controled by nv homes lp nvh said it has called for redemption on april 30 all 873000 dlrs of its six pct convertible subordinated debentures due 1991 at 1000 dlrs pluys 1983 dlrs in accrued interest per 1000 dlrs principal amount
the farm credit systems reduced need for medium to long term financing also enabled it to cancel bond issues scheduled for january 20 and last october 20
production of gold from the project at an annual rate of 35000 ounces is scheduled to begin early in 1988
canadian pacific cp unit studies pulp mill
the drop in soybean meal consumption resulted from increased use of cheaper rapeseed meal the officials said
shr nil vs nil net 215000 vs 16000 revs 2800000 vs 1100000 nine mths shr one ct vs nil net 620000 vs 231000 revs 8100000 vs 2100000
quarter net includes tax credits of 102000 dlrs vs 736000 dlrs
diplomats said ec environment ministers meeting here agreed member states would have to reduce by 20 pct over the next few years the emission of nitrogen oxide widely seen as the main source of acid rain endangering forests and lakes
the report predicts annual world seaborne iron ore imports of 2677 mln tonnes by 2000 versus 3124 mln tonnes in 1985
miti estimated that it would help solve japans trade problem to the tune of about 10 billion dlrs a year
shr 64 cts vs 40 cts net 5597000 vs 3426000 revs 835 mln vs 474 mln six mths shr 115 dlrs vs 60 cts net 10 mln vs 5201000 revs 1476 mln vs 915 mln
dixie yarns dxyn to acquire ti caro inc
iraq disassociated itself from the december agreement while the production figures of ecuador and the united arab emirates needed to be verified lukman said
boeing co and argosystems inc argio said they reached an agreement for boeing to acquire the sunnyvale calif defense electronics firm for about 275 mln dlrs
the company also said its board is evaluating a proposal to acquire closely held snyder exploration co for one mln geodyne shares
proposed offerings recently filed with the sec
lorimar telepictures lt executives resign
fendt said the rise in imports in february to 127 billion dlrs from 112 billion in february last year was in line with government plans to foster economic growth
the supply demand position has improved in the past year and despite a silver market surplus the quantity of silver is modest enough to be absorbed by investors it added
brazilian coffee rainfall
victory markets inc files to offer debentures
to that end the administration in january allowed foreign policy controls on the export of oil and gas equipment to the soviet union to lapse he said
the companys operating loss for the nine months ended december 31 1986 increased to 77 mln dlrs from a loss of 17 mln dlrs in the prior year it said earlier
but some government supporters say they fear time for an economic miracle may be running out
ecuadors international reserves at the end of may were around 1209 mln dlrs compared with 1186 mln at the end of april and 1413 mln at the end of may 1986 the central bank said
chief inspector of mines redzuan sumun told that excess output of some 3000 tonnes after exports of 28500 in the one year quota period would be kept in the national stock
minntech mntx sees first quarter loss
cominco seeks meeting with striking union locals
the italian treasury said today that italy was certain that this time incidents would not occur but it said it would be opportune to look in depth at the role and the procedures of g 7 in relation to those of g 5
reynolds and reynolds reyna to fight suit
the conversion price was set at 312 singapore dlrs per share a premium of 505 pct
publisher robert maxwells british printing and communicaton corp plc said it filed a lawsuit in us district court against harcourt brace jovanovich inc its directors and advisers to stop among other things payment of the special dividend harcourt is paying as part of its recapitalization
an indication of the us position came last december when under secretary of agriculture daniel amstutz said japan has the potential to provide one of the largest boosts to us agricultural exports with the beef market alone representing some one billion dlrs in new business
in a separate report tanjug said the ec has so far refused a yugoslav request for a 600 mln ecu infrastuctural loan and a 100 mln ecu grant from the ec budget
it would seek fair trade in agriculture seek to discipline restrictive or trade distorting import and export practices to eliminate tariffs subsidies quotas and non tariff barriers
he holds a 33 pct stake
but japans ethylene plants are already operating at almost full capacity of 45 mln tonnes a year just to fulfill domestic demand the sources said
the ec executive commission was asked by representatives of member states on friday to propose a renunciation of some ec pledges to the world trade body gatt unless there are adequate and early measures to open the japanese market such a renunciation would be the first step to imposing stiff increases in duties or quantitative limits on japanese exports
the banks would be rid of the loans but would have to recognize a loss
standard oil said discussions with bp concerning the tender were continuing but provided no further details
sgl has termed the 162 billion dlr offer unsolicited
ivaco earlier reported 1986 profit rose to 441 mln dlrs after a one mln dlr extraordinary gain from 351 mln dlrs the previous year
taiwans export orders fall in february
glynwed international plc glynl in a statement accompanying their results that present indications are that 1987 has started well and it is confident that the year will be one of further progress
the company said it expects to announce next week the record date for the special 65 dlr per share dividend shareholders will receive under the plan and to pay the dividend during the month of april with the exact timing depending on the closing of financing arrangements
it has an average life of 35 years and matures 2016
the kuwaiti response came as iranian envoys toured gulf arab states saying responsibility for security and stability in the waterway was a regional matter
without them sustained strength is in question keefe said
norsk hydro issues 100 mln dlr bond
the survey also showed that 23 pct of the polled companies consider current order books to be above normal while 58 pct view them as normal and only 19 pct regard them as below normal
shareholders will also be asked to approve changes in the banks articles of association to allow it to offer shares in lieu of the interim dividend at a discount of five pct to the market price
christian said there was a sharp rise in may in sales of existing homes which are generally less expensive than new homes
japanese semiconductor manufacturers have complied with the us japan agreement said shoichi saba chairman of the electronic industries association of japan
standard and poors corp said debt ratings on 840 mln dlrs of debt of baker international corp and hughes tool co remain on creditwatch
rospatch corp said it will have a news release later in response to todays acquisition bid by diagnostic retrieval systems inc for 22 dlrs a share
industry analysts said the increase did not exceed norways voluntary move to curb by 75 pct planned growth in its oil output a move designed to back opec led efforts to stabilise oil prices by limiting supplies to world crude markets
by making the disclosure in a filing with the sec which is obviously already aware of its own probe icahn was also alerting current and potential shareholders of twa
the indonesia spokesman an agriculture ministry official who wished not to be identified said indonesia had no problem with quality and would continue to expand sales
the houston based banks nonperforming assets totaled 8971 mln dlrs at yearend up from 5631 mln dlrs at the end of 1985 analysts have said no buyer is likely to be interested in the troubled bank unless government assistance is available
asked whether the us could reasonably ask its allies to take action to stimulate the world economy without a bold american initiative to reduce the size of the federal budget deficit shultz said moves were already underway to tackle the problem
a year earlier outstanding loans amounted to 170 bilion dlrs and inventories 80 billion dlrs it said
the sale is effective from tomorrow they said in a joint statement
the nigerians are hoping that further bilateral accords can be struck fairly soon as this could encourage official export credit agencies to renew insurance cover for exports to nigeria
duff phelps lowers public service electric peg 
the us mint said it is seeking offers on 3701000 lbs of electrolytic copper and 629000 lbs of electrolytic cut nickel cathodes or briquettes that it intends to purchase
chinas 1987 cotton output must rise above the 1986 level of 354 mln tonnes or supply will fall short of increasing demand the china daily said
valero energy vlo debt upgraded by moodys
levon said re checked assays from zone two averaged 0693 ounces of gold a ton
dealers said federal funds were trading at 6 1 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
it is inevitable that exchange rates fluctuate under the system of floating rates sumita said
baker said that developing countries must adopt free market economic policies such as in the united states
shr 58 cts vs 54 cts net 3144000 vs 2464000 revs 546 mln vs 386 mln avg shrs 5394000 vs 4602000 year shr 203 dlrs vs 176 dlrs net 105 mln vs 8084000 revs 2011 mln vs 1524 mln avg shrs 5154000 vs 4602000
the new link will connect lago agrio to puerto colon in colombia the starting point of columbias pipeline to the pacific ocean port of temuco
verity said the us should make certain that militarily sensitive high technology does not wind up in communist nations
the agreement also provides that any portion of the cost of service deferrals not recouped prior to december 31 1994 will not be recovered through new mexico rates the company said adding it expects to recoup all deferrals in full by that date
south africa banks agree new terms to repay debt
the us benchmark crude west texas intermediate rose to 1815 dlrs a barrel today a rise of 150 dlrs this week
its shares will be divided by eight giving a capital of 128 mln shares of 25 francs nominal
pegasus gold inc said milling operations have started at its montana tunnels open pit gold silver zinc and lead mine near helena
but there was speculation that it may have been done in conjunction with the bank of japan
university patents inc upt 2nd qtr jan 31 net
the union official said he believed this issue would be resolved shortly
tenera lp said it plans to periodically repurchase up to 200000 limited partnership units in the open market
employment in manufacturing industries fell 380000 from a year earlier to 1430 mln including 183 mln employed in the textile industry down 190000 from a year earlier and 106 mln in transport industries such as carmakers and shipbuilders down 170000
standard said the group will consider bps offer in due course noting the committee has retained the first boston corp and cravath swaine and moore as advisers
the saudis are committed to that price level of 18 dlrs a barrel and are willing to make it happen again he said
valley resources inc said its board declared a three for two stock split and raised the quarterly dividend to 42 cts per share presplit from 38 cts both payable april 15 record march 31
france sold wheat flour to china onic
shortfalls of 200000 bags offered by oamcaf the african and malagasy coffee organization and 20000 bags offered by angola are also no longer valid delegates said
the amounts of what commodities are uncertain
german february import prices fall
peru consumer prices rise 53 pct in march
the companies said under the terms of the agreement all uccel shareholders will receive about 169 shares of computer common stock for each of the approximately 17 mln uccel shares outstanding
the sources said large quantities of beans are believed to have been undeclared from this years record total harvest and they were unsure how much of this would be unregistered by the end of the official crop year on april 30
weizsaecker in a speech on the first day of an official visit to argentina said debtor and creditor countries have created this situation jointly
sweden raises fuel taxes to fund defence spending
soviet industrial growth trade slower in 1987
data architects inc dai 2nd qtr may 31 net
the lawsuit filed by holders of its four pct prior lien bonds due january 1 1997 and its three pct general lien bonds due january 1 2047 sought to prevent the release of collateral the company said
the strike price represents a premium of about 15 pct over the current market price of gold
helig meyers co hmy increases dividend
but the plaza accord did not set any target for the dollars fall he said
ivey properties inc raises quarterly dividend
we have the beer but distribution and sales is the important point van schaik said adding that since the ruling heineken had been inundated by german traders seeking joint ventures
usair said receipt of the 9309394 shares which is also the minimum amount it will accept would give it a total of about 61 pct of piedmont shares currently outstanding and 501 pct on a fully diluted basis
antwerp libya 5500 mt bagged flour 14 daps 24 27 4
the notification came in japans answer to a recent gatt questionnaire on unfair trade practices the spokesman said
american national now owns nine banks
ciba geigy ltd announced the formation of its ciba vision group becoming the first group within the corporate structure to carry the ciba name
manufacturing was 24 pct above the year ago level
san francisco not region hurt by restructuring
construction employment rose a slim 2000 in february
he noted that the board has sold more than three mln tonnes to japan in the past three years
business and health services showed the largest gains in jobs while manufacturing employment fell by 25000
pryor told the futures industry association that there was great reluctance among members of the senate agriculture committee to reopen the 1985 farm bill and that a marketing loan might have a better chance in the finance panel
ccc accepts bids on bonus wheat to algeria usda
federal reserve board governor robert heller said the banking system could be strengthened by permitting formation of financial services holding companies involved in areas like banking insurance real estate and securities
bank economists in paris noted yesterdays meeting was only the first in a series and said the market would watch carefully in the next few weeks for any changes in positions
the proceeds of the issue will be used to fund outstanding short term borrowings storehouse plc corporate treasurer lance moir told 
fees comprise 1 4 pct selling and 1 4 pct management and underwriting combined
troon will acquire a majority stock interest and control of the board
that matches the spread over treasuries for the finance units equal sized same maturity offering on january 6 that was priced to yield 7948 pct
the production forecast for 1986 87 sunflowerseed has been lowered to between 22 and 24 mln tonnes against 23 to 26 mln tonnes the previous week making it 415 to 463 pct lower than the record 41 mln tonnes produced last season
domestic sales were led by better than average increases in apparel home fashions and hardware and especially strong catalog sales said sears chairman edward brennan
teeco properties lp said the partnership recorded income from operations for 1986 of 140000 dlrs or two cts a unit
in recent weeks the 18 dlr level has come under pressure due partly to quota violations by some opec members
the executives would also get cash settlements of options plans and continuation of insurance and other benefits
topping 1563 1610 1430 cracking 1842 1910 1686 the mediterranean region also showed netback values rising last friday over the previous week with the largest gains shown by es sider and the heavier urals crude oil which were each up 22 cts a barrel last friday to 1940 dlrs and 1916 dlrs a barrel respectively
spanish employers worried by high interest rates
they were responding to questions from wright a texas democrat who called the meeting two weeks ago because of his concern the debt crisis was deepening an aide said
however reaction here was limited with shorter dated paper ending steady to 1 4 point easier while longer dates dipped by 1 4 to 1 2 point
cb and t cbtb completes acquisition
kodak holds 470000 sahres of icn currently trading at about 18 3 4 and 700000 of viratek trading at 44
sheldahl shel votes three for two stock split
he told the national peoples congress chinas parliament that the countrys foreign exchange is limited and must be used where it is most needed
fitchburg gas fge raises quarterly
an increase in personal tax allowances would save taxpayers 14 billion marks
note company is wholly owned subsidiary of royal dutch shell group rdas
this followed the success of the australian nugget gold bullion coins launched this year he said in a statement
instead they have focused on medium term policy goals but left room to adjust their agreements with periodic meetings
industry grew 121 pct including capital goods by 216 pct and consumer goods by 203 pct while services were up 83 pct
the governor said canadas banking system remains sound despite recent concern about exposure by the countrys banks in debt plagued countries such as brazil
a senior us official yesterday dismissed a french idea to sell cut price grain to poor countries in africa as a way of lessening surplus stocks
they the bundesbank just dont want to come too much under american fire said chris zwermann currency adviser at swiss bank corp here
hawkeye also said it issued 233983 shares of common stock in exchange for 14766 shares of preferred upon completion of a previously announced exchange offer to holders of preferred
dow chemical co believes strong margins for chemical products could result in record earnings this year chairman paul oreffice said
standard and poors corp said it cut to bb minus from bb plus trinity industries incs 275 mln dlrs of liquid yield option notes
this should discourage banks from bidding high to ensure that they were successful while paying the lower marginal rate analysts said
shr 43 cts vs 36 cts net 7209000 vs 5574000 sales 777 mln vs 587 mln avg shrs 16676000 vs 15478000 year shr 112 dlrs vs 110 dlrs net 18371000 vs 17032000 sales 2575 mln vs 1983 mln avg shrs 16411000 vs 15433000 note year ago period ended feb 1 1986 full year earnings include gains from discontinued operations of 184000 dlrs or one ct a share vs 3143000 dlrs or 20 cts a share
it will consider raising additional capital most probably through a placement of convertible preference shares in the euromarket it added
analysts were mixed about how the stock price drop would affect the acquisition
gasoline demand averaged 675 mln bpd up 33 pct from 653 mln last year while residual fuel demand was 140 mln bpd off 27 pct from 143 mln the eia said
he added the executive commission has not yet decided whether the scheme should become a permanent feature of the ecs struggle to find a use for its massive stocks of farm produce
a spokesman for hitachi ltd hitt said the firms reduced output of 256 kilobit dynamic random access memory 256k dram was unrelated to mitis efforts to ward off the trade sanctions
in its 1986 annual report bil reported that it held a 19 pct stake in nzi
the study said liberalized trade between the two countries would improve the competitiveness of their economies in world markets and lessen trade irritants which now mar their ties
in that connection they welcomed the strong implementation of the louvre agreement
baglini said the counter proposal did not take into account argentinas request for a 215 billion dlr loan to meet four pct growth targets in 1987
but the loss of many jobs to foreign competition has raised similar concerns among more moderate senators
capel handled the deal
import prices in west germany fell 07 pct in february from january to stand 156 pct below their level in february 1986 the federal statistics office said
balance sheet total fell to 97 billion marks from 108 billion reflecting the lower dollar and the fact that credit business redemptions were not fully offset by new lending
it cited a continued emphasis on new product development advances in cheese and edible oil technologies further adaptation of tamper evident packaging and continued development of consumer battery technologies
bank economists said that the two together showed the economy would either stagnate or contract in the first quarter of 1987
liabilities to foreigners reported by us banks rose 353 billion dlrs between october and december after increasing 301 billion dlrs in the third quarter
for the nine months ended dec 31 1985 it reported a loss of 634 mln dlrs or 654 dlrs per share on revenues of 476 mln dlrs which it said was a result of noncash writedowns of oil and gas properties
the united states charged japan with violating gatt rules by restricting imports of agricultural products through an import licensing system
nissan chief financial officer atsushi muramatsu in a speech before an automotive seminar said he attributed the improvement to cost reductions and rationalizations of operations
miyazawa expects dollar rebound soon spokesman
as true liquidity drains we are going to have to see some better market cooperation and rationalisation commented one frn trader now dealing with straight bond issues since the floater market crisis
usair group inc u sets quarterly
wilshire also said that jacobs chairman joseph jacobs has agreed to recommend a second wilshire nominee for election to the board if the person was found to be qualified
white house spokesman marlin fitzwater told reporters the tariffs up from five pct should be seen as a serious signal to other nations on the need for fair trade practices
shr 34 cts vs 22 cts net 1280185 vs 875692 revs 190 mln vs 158 mln assets 5856 mln vs 4691 mln
the company said it plans to use proceeds from the offering to fund growth and for capital expenditures associated with increasing manufacturing capacity
the company said it invested 209 mln dlrs in property plant and equipment in 1986 up from 181 mln dlrs in 1985
np energy corp said its bankruptcy court will appoint a trustee to oversee the companys two year old bankruptcy proceedings
this would pose a challenge to competitors in europe and south korea
clevite industries inc which earlier received a 96 mln dlr takeover offer from jp industries inc jpi said it amended its shareholder rights plan so that certain provisions of the plan cannot occur until the board determines that it is in the best interests of the company and stockholders
usair group requests transportation department order twa to divest stake
schlumberger would not have terminated the deal because the us government didnt want it said johnson of lf rothschild
in 1984 severe drought cut the crop to 179 mln bags
fip is a manufacturer of valves and other pressure pipe fittings in thermoplastics
temco service industries inc merger ended
as a result 63 mln dlrs has been accumulating each month as deferred non cash account receivable which has been included in current income
national distillers dr sees second qtr gain
there will be no changes in the estimating program for citrus in texas or florida
most us producers have fallen behind other foreign producers in the use of modern textile and apparel production equipment and net imports are growing faster than the domestic markets kelly said
the company also said it has already consolidated two of its plants in nevada and it now plans to sell unused and surplus assets to provide additional liquidity
corning glw hazleton hlc set excahnge ratio
the ferrys owner is european ferries plc majority owned by peninsular and oriental steam navigation co plc porll the operation to right the vessel began yesterday after divers abandoned their search for more bodies
opec output for the whole of february was about 200000 bpd above the ceiling largely because of overproduction by the united arab emirates and kuwait the figures show
british land co plc is issuing a 30 mln stg convertible eurobond due march 26 2002 with an indicated coupon of 7 1 4 pct to 7 3 4 pct and priced at 101 3 4 pct lead manager credit suisse first boston ltd said
1986 oper net excludes a 105 mln dlr or 140 dlr per shr loss from early extinquishment of notes
the state department a major player in setting us coffee policy may then face conflicting pressures particularly from politically sensitive us allies in central america us officials said
primary shr 68 cts vs 65 cts diluted shr 62 cts vs 60 cts net 6053000 vs 5803000 revs 1014 mln vs 948 mln primary avg shrs 8955000 vs 8963000 diluted avg shrs 11031000 vs 11010000 nine months primary shr 174 dlrs vs 183 dlrs diluted shr 164 dlrs vs 169 dlrs net 156 mln vs 163 mln revs 2914 mln vs 2667 mln primary avg shrs 8974000 vs 8936000 diluted avg shrs 11053000 vs 10994000 note 1986 third qtr results exclude extraordinary 811000 dlr gain from termination of a pension plan
shr loss 341 dlrs net loss 354 mln vs loss 53 mln revs 825 mln vs 830 mln avg shrs 1038 mln year shr loss 533 dlrs net loss 426 mlnm vs loss 66 mln revs 317 billion vs 183 billion avg shrs 80 mln note the company had no shares outstanding in 1985
it said no final decisions had been reached yet and banks have until april 16 to comment on the trunk proposals
houston said inspection programs have kept pace with change but conceded that the danger of chemical residues in the meat and poultry supply has increased
if the rights become exercisable the company said those held by shareholders other than the owner of 30 pct or more of the stock will entitle the holder to purchase a number of common shares having a market value twice the rights exercise price
baker repeats he hopes prime hike temporary
northgate ngx quebec workers end strike
they estimated registrations today at between 10 mln and 12 mln 60 kilo bags
brazil wants to increase steel exports to us 
the resolution was expected to pass without controversy today in the house foreign affairs committee before the full house was to take up the bill
on april 1 macandrews and forbes owned by ronald perelman offered 1850 dlrs a share for the 63 pct of revlon shares he did not already own
january exports fell from 73164 to 35910 tonnes
advo system inc advo sees break even 2nd qtr
the bank of england said it revised down its forecast of the deficit in the money market today to 750 mln stg from 800 mln
he said even a more moderate proposal to reduce sugar price support is unlikely to be approved
it is moving forward with market development and is enhancing market share beall said of allen bradley unit
raleigh federal savings bank rfbko 3rd qtr
shr 39 cts vs 31 cts net 232991 vs 198185 revs 29 mln vs 23 mln year shr 220 dlrs vs 112 dlrs net 13 mln vs 715113 revs 113 mln vs 101 mln note1986 revs includes 260000 dlr finders fee net includes 112000 gain from sale of securities 115000 dividends 78000 dlrs from lease recalculations
reduced tin exports this year could cause the atpc to allocate a lower quota next year yoot said
owens corning said it sold its interest in sentuc porxpan sa for an undisclosed price
in september 1986 sosnoff who is chairman of atalanta sosnoff capital corp filed for clearance under us antitrust laws to raise his interest in caesars world to 25 pct
but bankers said the reagan administration could promote accounting and regulatory changes to foster debt equity swaps and debt securitization and to enable banks to consider interest capitalization as an alternative to new loans
institutes see no west german recession
southwest swf stone sto comply for merger
the interest rate will be 1 10 point above the singapore inter bank offered rate for six month us dlr deposits
the call money declines surprised some dealers who speculated it was because the bundesbank disbursed further government funds today
periods ended december 31 shr loss 10 cts vs loss seven cts net loss 316289 vs loss 189140 revs 61762 vs 8934
after several months of negotiations with a group of 56 major creditors and other unsecured public debt holders dome submitted a complex proposal earlier this month that includes converting debt to equity and extending repayment time
kaines sells jordan two cargoes of white sugar
they take collectively around 94 pct of total australian exports
the current borrowing limit of 30 billion dlrs will therefore constrain the ability of the exchange fund to continue to take in these fiscal reserves by the issue of interest bearing debt certificates he said
the banks share in the syndicate will be cut to 738 pct from 74 pct from april
us 1987 sugarbeet acreage estimated by usda at 1249000 acres vs 1232500 in 1986
these options boost production while avoiding the huge costs associated with proposals like an oil import fee herrington told a house energy subcommittee hearing
analysts said transcanadas bid signals domes debtholders that an alternative exists to domes debt plan
indonesia rejected world bank recommendations for sweeping reforms to its farm economy as the countrys foreign aid donors met to consider giving it 25 billion dlrs in grants and soft loans
sales of wheat and corn to the ussr for delivery during the fourth year of the agreement totaled 8182500 tonnes 4080500 tonnes of wheat and 4102300 tonnes of corn
patten corp said it called for redemption on may one its outstanding 23 mln dlrs of 7 1 4 pct convertible subordinated debentures of 2001
newmont gold corp expects gold sales in 1987 to rise about 22 pct to 577000 ounces from 1986s 474000 ounces the company said in its annual report
gencorp said in its statement earlier that the date its rights will trade separately from the common stock was extended to april six from april three
dotronix said video monitors sales for the fiscal year ended april 30 1986 were 76 mln dlrs
he said 1985 and 1986 were good harvests and this year to add to the production fall drought had affected output
several indepndent oil companies such as permian corp and coastal corp cgp said they had moved prices up effective last friday the day sun co sun announced a 50 cts a barrel increase to 1900 dlrs a barrel
gotaas larsen shipping corp gotlfo 3rd qtr
bio vascular inc 1st qtr jan 31 loss
after successfully countering a takeover bid launched by t
on the surface baker may look responsible for this but if you go back to see what caused it unsettling of financial markets it was west german policy said robert brusca of nikko securities international in new york
nj nicholas president and chief operating officer said the company might be interested in a relatively small book business
the facility fee for example was 1 8 pct compared with the 1 16 pct bp paid on a recent 15 billion dlr refinancing
outokumpu in copper deal with iberica del cobre
western diplomats in khartoum say the meetings between imf and sudanese government officials do not amount to formal talks but rather an effort by the imf to monitor sudans economic performance
german industrial output rises 32 pct in february
venezuelan aluminum firm to credits
flax was 51 pct tillering and canola was 58 pct tillering
the previous high was 22583 contracts in december 1986
this compared with premiums of between 60 and 80 pct on similar share flotations in britain
s p upgrades union carbide corps 12 billion dlrs of debt
american electric aep unit to buy back bonds
the united states should take urgent action to cut its crippling budget deficit including possible reductions in non defense spending higher taxes and curbs on growth of the defense budget the organization for economic cooperation and development said
in all a 1842 mln stg charge was made against profits for 1986 compared with a 1007 mln stg charge in 1985
it said other major us canadian issues were defense cooperation acid rain and the us rejection of a canadian assertion of sovereignty over waters of the northwest passage
morning weakness in sterling and the gilt market was largely attributed to a newspaper opinion poll showing that the conservative governments support was slipping
in 1986 tylans furnace product shipments in the us represented 103 mln dlrs of the companys total net sales of 284 mln dlrs
he said norstar had a book value at the end of 1986 of 1963 dlrs per share while fleets book value was 2802 dlrs
the first repayment on the loan will fall due in 30 months with full repayment spread over four years
salomon brothers inc is exclusive agent for purchase of the notes time said
latin american sugar producers are awaiting further rises in world market prices before moving to boost production official and trade sources said
the facility is sometimes used by the central bank to set a local short term interest benchmark through fixing its bond repurchase rates
pechiney said in a statement one accord was to set up joint ventures manufacturing aluminium packaging for food and cosmetics while another was to produce machinery to manufacture packaging
the issue whose coupon was indicated at 5 8 pct carries a put option after three years at 103 pct
shr diluted five cts vs 13 cts net 278780 vs 442532 revs 5101747 vs 4293393 avg shrs diluted 6050968 vs 3414145 note net includes tax credits of 123500 dlrs vs 179000 dlrs
shr 118 dlrs vs 115 dlrs net 197 mln vs 193 mln assets 1005 billion vs 962 billion deposits 856 billion vs 804 billion net loans 695 billion vs 671 billion
he described debt equity swaps as a very interesting new approach to indebted nations problems
dutch investment bank raises 310 billion yen loan
farmers enrolled over 65 mln acres of program crops in the latest conservation reserve program signup and around four mln acres of non program crops agriculture department conservation specialists said
the administrations target price proposals are dead in the water he said
it has been observed that due to restrictions on imports specially on raw materials and intermediate goods local industry has been suffering for want of necessary inputs he said
delta air lines dal said a court order requiring western air lines wal to arbitrate with two of its unions will not delay the april 1 merger between the two airlines
the statement calculated that a one dlr a barrel difference in oil prices this year will change revenue by about 350 mln stg for the current fiscal year and 400 mln stg in a full year
sun state savings sssl sees higher earings
it said it already holds 191 mln of tmocs 25 cent par shares
continental grain 8250 tonnes of number two northern spring dark northern spring ns dns wheat 145 pct protein for april 15 may 10 at 12397 dlrs fob gulf excluding brownsville
southdown sdw downgraded by s p
in addition upwards of 100 billion dlrs in capital flight is estimated to have left the region during that time
the well tested gas at a rate of 62 mln cubic feet a day through a 26 64 inch choke with 1548 pounds flowing tubing pressure
total supply includes imports but not broken kernels
business sales fell 201 billion dlrs or 45 pct in january to 42875 billion dlrs after rising by three pct in december to 44882 billion dlrs
in 1985 86 thyssens world group profit fell to 3701 mln marks from 4724 mln in 1984 85 reflecting costs linked to its steel operations
a
basf us profitturnover boosted by acquisitions
moodys investors service inc said it upgraded valero energy corps 120 mln dlrs of debt
the two institutes said external economic factors which were currently damaging exports and pushing up imports would dominate the economic environment throughout the year
second quarter ended may 31
shr profit one ct vs loss nine cts net profit 177061 vs loss 1364878 revs 5913334 vs 487121 avg shrs 186 mln vs 159 mln
qtly div six cts vs six cts prior pay april one record march 20
fhlbb changes short term discount note rates
terms were not disclosed
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
maybe they find it is better not to have the meeting because everyone is sticking to official prices he said
dana dcn debt may be downgraded by moodys
one rumor had federated department stores inc fds taking a look at supermarkets general
fabri centers fca 4th qtr ends jan 31 net
in recent years japanese importers have overbought chinese edible use soybeans and sold the surplus to domestic crushers but low 1986 us crop prices have discouraged the purchase of chinese origin beans for crushing they said
usda estimates 1986 87 orange juice yield at 150 gals per box from florida crop
i feel this is a strong step on the road to balance through expansion while i do not deny the existence of the trade deficit between japan and the ec i believe it should be rectified not by reducing trade through import restrictions or export restraints but by expanding the overall trade tamura said
the area sown was 123 to 130 mln hectares 103 to 152 pct less than the 145 mln hectares the previous season
american eagle gold bullion coin sales are projected at 31 mln troy ounces in their first year on the market well above the target of 22 mln donna pope director of the us mint told journalists
dealing services remain excluded from such countries
the united food and commercial workers said that more than 1000 rank and file members of the union will demonstrate monday at dart group corps headquarters protesting darts proposed 173 billion dlr takover of supermarkets general sgl supermarkets is best known for its pathmark chain of supermarket drug stores in the new york and new jersey area and also owns rickels home centers
us gold silver platinum soar on volcker rejection of 3rd term
i would say that what has happened to the yen in the past several weeks was not outside the range we agreed to in the discussions in paris miyazawa told a press conference following the group of seven meeting here
he added we have the financial capacity to take advantage of acquisitions in 1987 meinert said the company will open five new and 10 redesigned kuppenheimer direct to consumer stores in atlanta detroit st
however australias output is estimated to rise to 90 tonnes this year from 735 tonnes in 1986
manufacturers hanover corp filed with the securities and exchange commission for a shelf offering of up to 82225 mln dlrs of debt securities on terms to be determined at the time of the sale
he also said research and development spending in this business segment will be increased to 14 pct of total sales income in 1987 from 13 pct or 130 mln sterling in 1986
el paso electric said the agreement allows recovery in its new mexico rates of lease payments in connection with the utilitys 1986 sale and leaseback of its investment in palo verde unit two to the extent of the book value sold
park communications inc parco 1st qtr mar 31
unofficial strike hits rotterdam grain sector
all but one were british
he noted that some existing republic of venezuela bond issues are maturing and that the government intends to replace them with new issues to maintain its presence in the capital markets and encourage new investments through an enhanced credit image
colonial american bankshares corp cabk 1st qtr
proposed dividend per share 550 guilders vs 500 note full company name is koninklijke nederlandse papierfabrieken nv
these offer a return at the three month libor rate plus 45 basis points
gould added that it accounted for the division as a discontinued operation
i think nakasones desperate said a us bank foreign exchange manager
it estimated 1987 88 maize plantings of 173 mln hectares down seven pct from the 187 mln hectares planted in 1986 87
nord est issues 3929 mln french franc bond
although the company said it would meet commitments this will put further pressure on stocks
the measure would have the most impact on japan west germany taiwan and south korea
the acquisition will take place through a voluntary conversion of lincoln to a federally chartered stock savings bank from a mutual federal savings bank
a spokesman said the issue had already been placed in full
beyond that i have no comment the spokesman said
gander mountain inc said it acquired privately held western ranchman outfitters a cheyenne wyo retailer and catalog seller of western apparel
columbia gas cg in sinking fund redemption
the partnership is controlled by alfred lerner and a subsidiary of the progressive corp prog is the limited partner according to the company
hmo america inc hmoa year loss
attacks affect colombias oil outlook ecopetrol
rio tinto zinc corp plc rtzll rtz said the predicted rise in industrial production in the us and europe should boost its 1987 performance
swedens boliden to announce major corporate takeover today official
the united states and japan are not involved in a trade war despite us sanctions announced last week against japanese semiconductors us trade representative clayton yeutter said
current exchange rates almost within levels agreed by major nations sumita
asked by securities analysts if allied lyons plans a share issue in canada after acquiring a 51 pct interest in hiram walker holden brown responded plan might be too strong a word
lamont said the treasury would appoint financial advisers for the sale
alaska housing finance gets credit euro cp pact
but coupled with other factors such as waning foreign speculative buying of mark bonds on the dollars decline long term yields may to have to rise economists said
ventra was organized in september 1986 and completed a public offering of 30 mln shares in january 1987
im more concerned about the export side he told a house appropriations subcommittee
gros is also expected to brief the banks on the results of a 10 day tour of europe and japan that he and finance minister dilson funaro have just completed to seek official support for brazils debt stance
interleaf leaf introduces new software
japans huge trade surplus is a sore point in west europe as it is in the united states
it also said that since the charged required an expensing of previously accrued liabilities the company will experience no resulting material change it its cash flow
however unless the japanese political system can move more quickly to give nakasone some nice present to take to washington on smouldering trade issues he will face a very hostile audience said merrill lynch securities economist william sterling
stoltenberg told journalists before he attends next weeks international monetary fund meeting in washington that the strategy to stabilise currencies around current levels has proven its worth and will also determine future developments stoltenberg declined to comment specifically on what he would consider to be an undervalued dollar but said a dollar around 180 marks created problems for west germanys exports
the company said the conversion right will terminate after 1700 est april 9 for the debentures and 1700 est april 13 for the series c
the decision followed yesterdays ruling by an amsterdam court preventing the sectors employers continuing with current plans for 350 redundancies this year until the court sits again on may 7 rosenmuller told a meeting of the general cargo sectors 4000 workers today
carrington said i am of course anxious to help in any way i can provided that both greece and turkey and the other allies wish me to do so
the full council session resumes tomorrow at 1330 gmt after a european community coordination meeting at 1100
taft tfb stock rises on proposal
in addition margoshes said he recommended atlantic richfield arc on a short term basis though he said he is still suspect about its debt situation
its just the size of each bond which has increased he added conditions in the capital market currently remained fairly favourable for raising new debt
gustaaf francx general manager of monsanto chemical co europe africa said the acquisition would help monsanto to expand its customer base for polyphenyls which are used as components for high temperature heat transfer fluids
the bond is available in denominations of two mln lire and will be listed in london
but as the dollar slid against the mark and world stock and bond markets plunged officials in the major industrial countries played down the dispute as a bilateral problem between the united states and west germany and insisted that the currency pact was still alive
petsos said the soviet union which had initially agreed to buy 380000 tonnes would now purchase the plants entire output of 600000 tonnes a year
preston corp ptrk sees first quarter loss
saudi arabian oil minister hisham nazer said opecs december agreement to stabilize oil prices at 18 dlrs a barrel was being implemented satisfactorily and there was no immediate need to change it
the change resulted from a denial by the pennsylvania public utility commission for a rate increase and an order by the commission to reduce rates by 186 mln dlrs annually
one adr represents 075 pct of one b free share in pharmacia
brodersohn and other latin officials however did not spell out how this should be achieved
the total capacity of the burning tanks was over 10000 cubic metres but some had been empty when an explosion started todays fire he added
it said scattered rain in many parts of china in the past 10 days has improved the situation but information on hail damage in anhui is incomplete
precambrian shield resources ltd year loss
the analysts agreed success would depend largely on how sterling performs in the near term
beverly enterprises bev debt lowered by s p
at todays sale the bond equivalent yield was 630 pct
operating profit fell to 122 mln marks in 1986 from 150 mln in 1985
he added ecuador also wanted to make up for 50000 bpd it shipped to caribbean destinations
the finance ministry said it will allow more foreign brokers to participate in government note auctions from april by abolishing a requirement that participants have current accounts with the bank of japan
owens illinois oi acquisition completed
us 2 year note average yield 643 pct stop 644 pct awarded at high yield 85 pct
indian plant signs first alumina export contract
the asas unfair trade petition against the ec would ask for an investigation and modification of ec oilseed policies to make the regime non discriminatory
dahlberg inc dahl 4th qtr net
it closed at 18160 70 marks
the joint committee of taiwan soybean importers awarded a contract to cigra inc of chicago to supply a 54000 tonne cargo of us soybeans a committee spokesman told 
the 34 pct decline from the 1985 level reflects continued water rationing which will remain in force the ministry said
the company said that each share of third national common will be exchanged for 406 shares of its common
these include flows to and from the government relating to the privatisation of seven government departments on april 1
latest qtr earnings include pension refund of 10 mln dlrs representing loss of two cts per shr after payment of preferred dividends
leigh pemberton opposes takeover protection rules
as a result those amounts will be subject to federal taxes it said
the board also proposed requiring brokers engaged in dual trading elsewhere in the pit to record personal trades to the nearest minute and curbing trading between broker groups
cri insured mortgage investments ii inc said it expects to distribute about 155 to 165 dlrs per share from operations for all of 1987 and about 168 to 175 dlrs including the proceeds of the gain from the sale of the brighton meadows mortgage through january 31
it is also distributing a new product called sapiens which is artificial intelligence computer language for use by major corporations
track 149 204 485 252 toledo 141 204 150 478 239 memphis 159 195 171 490 286 peoria 151 480 260 denver 156 156 254 evnsvlle 154 204 150 217 490 261 cinci 152 204 150 217 485 258 mpls 134 175 150 185 468 balt nor phil 170 180 498 312 kc 149 156 164 476 258 st lo 154 166 490 291 amarlo lubbck 184 140 475 292 lou gulf 173 505 312 port seattle 187 210 168 stockton 218 223 210 400 la 254 250 438 duluth 134 175 150 185 468 tex gulf 173 148 173 505 312
one of the strike leaders elmano barbosa said it is a psychological war
the uk produced 820400 tonnes of oilcake and meal and 431000 tonnes of crude vegetable oil in calendar 1986 ministry of agriculture figures show
rumors of a major seller were not confirmed but some traders felt limited potential for further canadian dollar gains might be taking some of the shine off domestic bonds
oshawa group ltd 4th qtr net
de kock speaking at the same news conference said the three year length of the agreement was of enormous significance to south africa
mfs managed muncipal bond trust sets payout
the central bank intervened as a medium sized trading house sold dollars putting pressure on the us currency they said
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 yesterday ruled it illegal union leaders said
german long term capital inflow slumps in february
the company said railway maintenance had 1986 revenues of 16 mln dlrs
they just cant say no or theyll be sued by shareholders gillettes board was still meeting at 1700 edt three and one half hours after the scheduled starting time
the philippines and the world bank have signed a 300 mln dlr loan and 10 mln dlr worth of technical assistance to help manila in its economic recovery efforts bank officials said the loan to be disbursed in three equal tranches is repayable over 20 years including a five year grace period with a variable interest rate currently at 792 pct
qtly div 21 cts vs 21 cts prior pay june 10 record may eight
nuclear support nssi to buy itt itt henze
a world recession is unlikely this year as fiscal and monetary policy in most industrialized countries is supporting the economy deutsche bank ag dbkgf management board joint spokesman alfred herrhausen said
fairchild simply doesnt have key technology thats a thing of the past may said
a company spokesman would not elaborate
standard srd referring bp bp bid to group
the white house reacting said it did not favor amending the tax code but would look at the proposal
they will be underwriting six mln dlrs each instead of 10 mln dlrs
imperial chemical industries plc expects earnings from its pharmaceuticals operations to grow to about 35 pct of world profits within the next five years compared with a current 30 pct chairman elect denys henderson told financial analysts
1986 net includes losses from discontinued operations of four cts in the quarter and six cts in the six months
the group said it is ending its tender offer for gencorp and promptly return to tendering shareholders all shares tendered pursuant to its offer
this months government auction of 50 mln dlrs worth of six month treasury bills yielded an average 732 pct down from 756 pct last month the spokesman said
in a letter to house banking committee chairman fernand st
he told reporters three or four countries out of opecs 13 members were mainly responsible for the overproduction but declined to identify them
each of the five locals has a separate contract that expired april 30 but the main issues are similar
owens corning ocf completes sale of plants
but it said it will not make an exception for waste management which would give that company an advantage in the bidding process
it added that it extended its offer to may 11 at a fixed price of 16536 dlrs a share
the bank of england said it forecast a shortage of around 700 mln stg in the money market today
vista resources inc vist 4th qtr net
it said preliminary results are encouraging and a feasibility study is nearing completion
the bond is guaranteed by den norske creditbank and is available in denominations of one mln yen
royal resources rrco makes acquisition
results in us dlrs
taiwan said considering currency liberalisation
but iranian parliamentary speaker hojatoleslam akbar hashemi rafsanjani said iran did not need missiles to close the strait because we can close it with artillery only the us has said it will not allow iran to use missiles to choke off oil shipments and offered its warships to escort kuwaiti tankers past the missile batteries in the strait
based particularly on the feds reserve management actions on friday and today nathan of wells fargo said it has become clear that the fed is not fully resisting upward rate pressure in the market
there are currently about 42 mln shares issued and outstanding it noted
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
the selling concession is 1 1 2 pct while management and underwriting combined pays one pct
1987 six months includes charge of 115000 dlrs due to reversal of investment tax credits
everybody feels it can still be managed one source said of market developments
kim who is also economic planning minister said the current account surplus previously expected to exceed eight billion dlrs this year would be held at about five billion dlrs by increasing imports accelerating market liberalisation and rationalising exports
norwegian oil companies norsk hydro a s nhyol and saga petroleum a s sagool said they have applied for offshore exploration drilling licenses in gabon on africas west coast
i dont think theyll even get to what they did last year mitchell said
systems for health care inc said it repositioned the company through a one for 50 reverse stock split
national westminster bank said it cutting base rate to 10 pct from 105 pct
stora close to completing papyrus takeover
chinas industrial output rose 141 pct in the first quarter of 1987 against the same 1986 period the peoples daily said
they said they would mine 460000 tonnes of proven and probable mineable reserves of oxide ore grading 045 ounce gold ton at a yearly rate of 112000 tonnes for a mine life of 425 years
the narragansett taft group will provide the equity portion of the offer by contributing at least 125 mln dlrs in cash and taft broadcasting common narragansett said
he said the transaction left goldman sachs international with an exposure of about 22 mln dlrs but that it had insurance to cover the loss
digital said the ruling involved a copyright infringement suit filed against softklone by microstuf inc which digital acquired in october 1986
lilco lil revises 1986 net to include loss
us soybean lobbyists and congressional aides criticized a proposal from a senior agriculture department official that congress allow the us soybean loan level to be officially lowered to 456 dlrs per bushel next year
clabir corp and ambrit corp said they called off their plans for clabir to buy the 16 pct voting interest in ambrit that it does not already own
the sources said the commissions view was made clear at a meeting of its sugar management committee today
around a third of any new sale of us treasury bonds has been bought by the japanese
takemoto said national security should not be an issue since the planned purchase of fairchild from its current owner schlumberger ltd slb does not include fairchilds main defence related division
bentsen said canada restricts trade 15 different ways while the united states uses only six trade restriction methods
they amounted to 1808 mln dlrs fob compared with 1475 mln dlrs for coffee a drop of 42 pct from last year
consolidation coal got the option from the capco group of utilities which received the option from nacco in 1981
bank of japan governor satoshi sumita said the present foreign exchange market instability will not last long as there is caution in the market regarding the rapid decline of the us unit
they were aimed at revitalising the domestic corporate bond market securities house managers said
hayes albion corp said it has delayed the special meeting at which shareholders will vote on its merger into harvard industries inc hava until march 24 from march 17 due to a delay in securities and exchange commission clearance of proxy materials
fluorocarbon co fcbn 4th qtr jan 31 net
exports in february totalled 3794 mln dlrs 172 pct above the january figure
sporting life inc splf 2nd qtr jan 31 net
r revised
most ec states said to be against oils fats tax
it added the council believed an intensification of the already expansionary stimulation of monetary and financial policy is not called for osts statement said experts believed further pressure on west germany to adapt to external economic factors would not increase
we have heard nothing about this but if brazil has decided not to import maize that is no problem for us as it is not one of our main customers agriculture livestock and fisheries under secretary miguel braceras said
we must avoid the situation in recent years of importing more than 10 mln tonnes of grain the paper quoted deng as saying that the state council has decided to raise the price of five grains including corn and rice unchanged since 1978 but it gave no details
it is subject to repayment of the debt on or before that date at a discount of approximately 8600000 dlrs in principal and cancellation of approximately 1800000 dlrs of current and deferred interest the company said
the companys implied senior debt rating is b
the absorption of enormous aid given to the philippines is also poor
without brisk consumer spending japan can hardly achieve domestically generated economic growth as the government has put a lid on fiscal measures he said
also included were 436 pct dividend preferred with a 220 dlr strike price and 33 pct premium and 449 pct dividend preferred with a 235 dlr strike price and 42 pct premium
bicc seeks accelerated earnings growth london march 25 bicc plc biccl which earlier announced a 10 pct rise in 1986 pre tax profits said it was determined to achieve higher levels of performance quality and service to accelerate its improvement in earnings
the volume of european exports to south africa carried by container line vessels has declined 40 pct in the last two years british shipping executive antony butterwick said
omnicom group inc omcm 4th qtr net
metro airlines mairo to make acquisition
oil prices in the second quarter are likely to continue trading roughly between 16 and 19 dlrs a barrel and could well test the lower end of that range
diplomatic sources said the yeutter de clercq meeting will take place in london and will also involve the aerospace ministers of france britain west germany and spain the countries involved in the airbus project
usacafes lp said its board declared a quarterly dividend of 20 cts per unit its first since converting to a limited partnership
british officials stress the need for commodity pacts to be a two way partnership in trade rather than a disguise for aid
net 123 mln vs 6438000 note company went public in march
but despite the link up sumitomo president koh komatsu told he is confident his bank can quickly regain its position
danforth who is chairman of the westinghouse electric co wx first learned of bps interest in acquiring the rest of standard in a telephone call march five from sir peter walters chairman of bp
harris said its dealings in cyclops common stock were made on behalf of its advisory clients
the nine banks are oversea chinese banking corp ltd united overseas bank ltd banque paribas bangkok bank ltd citibank na standard chartered bank ltd algemene bank nederland nv banque nationale de paris and chase manhattan bank na
north sea brent today rose over 1700 dlrs with trades reported as high as 1705 dlrs up one dlr
to stabilise supply demand relations which have been disrupted by excess inventories since 1985 will take some time he said
coca cola ko says rumors incorrect
pharmacontrol pharo acquires revco unit
the company said it sold about one half of its 50 pct interest in the oak hill and north rucias fields its two largest producing properties
us petrochemical plants are currently operating at about 90 pct capacity reflecting tighter supply that could hike product prices by 30 to 40 pct this year said john dosher managing director of pace consultants inc of houston
citibank launches currency warrants
ah robinss qrah january earnings up
the company said the suit was filed seekiong to enforce sonats obligations under the contract to pay for methane gas produced by the brookwood coal degasificiation project in the black warrior basin of alabama which is equally owned by kaneb and jim walter
in germany this did indeed happen in 1986 koehler said
s and p said it believed afg would make acquisitions of moderate size in the next few years
the coupon will then be re fixed annually at the one year australian treasury rate
malaysian primary industries minister lim keng yaik told in kuala lumpur his country the worlds top producer of rubber tin and palm oil decides its participation in international commodity pacts case by case
last month miti told chipmakers to cut production for the january to march period by 10 pct to help dry up inexpensive chips that have escaped from japan to grey markets not subject to the pacts price controls
napco international inc said it has suspended its plan to sell its international business to a group of that business top managers because the group has failed to obtain satisfactory financing
nakasone also said that a joint japan poland economic committee would discuss the proposed conclusion of an investment protection agreement later this year the sources said
bankers attending the inter american development bank annual meeting here said the two sides are still working on a plan that embraces manilas proposal to pay interest partly with philippine investment notes pin instead of cash
shr loss 74 cts net loss 4192613 revs 2928021 note 1986 net includes 3095000 dlr write off tied to discontinuation of emulator board production
bob dole r kans sponsors of the bills have brought the legislation forward
the us position is that it is not seeking veto power although it believes the banks largest contributors should have greater influence within the institution
it said burger king usa and bennigans reported higher operating profit but profits fell sharply at steak and ale which introduced a new menu
total pre tax profits fell to 254 mln after 268 mln in 1985
a mass dismissal last year at the impala platinum holdings ltd iplaj mines in the tribal homeland sent world platinum prices rocketing
pay n pak pnp receives amended proposal
gkn plc gknll 1986 year
but poehl said west germany now faced a difficult dilemma over monetary policy
bally acquired six flags for 1474 mln dlrs in january 1982 from penn central corp
within these constraints economists believe du plessis has little room to manoeuvre
kelman said a revaluation of csrs investment in delhi to net realisable value as of today csrs annual balance date will result in an extraordinary loss of 97 mln dlrs
may currency reserves out today showed a record 48 billion stg rise pointing to massive currency intervention
cannon can sells library to weintraub
mar 27 mar 20 feb 27 brent 1889 1919 1677 bonny light 1958 1975 1715 arab light 1849 1852 1607 urals cif 1902 1898 1654 refinery netbacks in singapore were also lower with heavier and sour crudes weakest
in 1986 world group turnover was off 88 pct at 4047 billion marks compared to 1985 basf said
diaz said new york investment bank allen and co inc told the pcgg it was interested in tendering for all outstanding smc stock with the subsequent dispersal of 60 pct of the stock to filipino investors to comply with investment laws
conable said there was no indication that the soviet union was serious about joining the international monetary fund and world bank
despite rising petroleum prices and falling coffee prices kenyas economy is still expected to improve in 1987 the planning minister said
i am not optimistic about an agreement soon hesse said
i cannot see any chance for a real turnaround rise in the dollar viermetz said
usair fell 1 3 8 to 47 3 4 as doubt spread it would be taken over
were short and were buying he said
italys state owned ente nazionale idrocarburi eni will invest 197 mln dlrs in two joint ventures in coal and petrochemicals with petroleos de venezuela sa eni president franco reviglio said
sprinkel told a symposium sponsored by new york university that spending could be cut by avoiding decisions based on the desire to influence votes and by shifting the responsibility for local projects to state governments
klm to take 15 pct stake in air uk
the coupon on dai ichi hotel ltds 50 mln swiss franc issue of five year notes with equity warrants has been cut to 1 5 8 pct from the indicated 1 7 8 pct lead manager swiss volksbank said
continuous rebel raids against oil pipelines and foreign exploration camps endanger colombias present oil bonanza franciso chona manager of the state run oil company ecopetrol said
horizon services 32 billion dlrs in mortgage loans
he said the new bonds repayable in one to two years carry interest rates ranging from five to 525 pct
ambassador lindenberg sette will attend the meeting he said
ended february 28
the finance department said it will sell 500 mln dlrs of three year 3 1 2 month bonds to primary distributors in a previously announced auction march 31
the typical salaried employee has 733 mln yen in savings reflecting an annual average savings rate of 17 to 18 pct he said
datagraphix which had 1986 sales of 2407 mln dlrs manufactures a line of computer output to microfilm hardware and supplie
extraordinary debit 50 mln vs nil
appleton said he bought the stock for 116554 dlrs for investment purposes
the eight year offer yields 594 pct to retail investors at issue and will go on sale on march 25
protracted low world metal prices have badly hit the copper industry in zambia the worlds fifth biggest producer
however he said he would prefer to leave the tax rates enacted in last years tax reform bill unchanged
i dont see any reason to change full year earnings estimates said frederick meinke analyst at ef hutton co
about 250 traders and treasurers from some 115 banks including some in london and other major non arab financial centres are expected to attend the conference which begins on on saturday
payment date is march 26
uk money market given 24 mln stg assistance
year on year the deflator rose 37 pct
thats a lot of space romero said
officials told last week that commerce secretary malcolm baldrige and defence secretary caspar weinberger fought the planned sale of fairchild by french controlled schlumberger ltd slb to japans largest computer maker because it could have left the us military dependent on foreign sources for vital technology
now theres a growing number of new products in an environment of increasing competition for performance on fund management smithson said
the department previously estimated april income rose 03 pct
british petroleum plc bp and royal dutch shell group rd have also been mentioned as possible suitors for dome
the international coffee organization executive board meeting will end tomorrow without any move to reopen the debate on restoring coffee export quotas delegates said
uncertainty is growing about the prospects for the economy as orders for industry fall and companies scale back investment plans the german savings banks and giro association said
argentine grain growers reduced their estimates for maize and soybean production in the current harvest in the week to yesterday trade sources said
a decision on reprisals is likely to be made by the reagan administration soon they said
its not unusual that someone could be looking at burlington after the housecleaning theyve done said eileen gormley of thomson mckinnon
a senior banker working on the deal also said that banks are responding positively and said all the legal waivers necessary could be obtained within two months
some middle east experts say the only way out is for washington to join forces with moscow in pressing for an end to the war between iran and iraq
earnings from subsidiaries through profit transfer agreements 4942 mln marks vs 542 mln
analysts said 1987 corn production could drop by over one billion bushels to around seven billion bushels
the newspaper said a cattle emergency had been decreed and the cattle are being rounded up
volcker said that given a choice between squeezing the budget deficit or squeezing investment he would favor squeezing the budget deficit
results in us funds
in the 1960s we had 16 mln hectares of commercial forest now we have one mln
moodys said that continued leveraged buyouts and restructuring among small and medium sized companies will account for up to one quarter of coporate debt downgrades
the energy security issue should be considered when environmental issues are considered martin said
but they flatly dismissed suggestions that his departure to the investment banking firm of shearson lehman brothers signaled the baker team was breaking up or that the treasury secretary himself might leave soon
most of the mtbe would be targeted for the united states where lead levels in gasoline are being lowered because of health concerns the statement added
assay results from 20 suface holes drilled on 250 foot centers indicate that the donalda number one deposit contains possible reserves of 611000 tons at an average grade of 048 ounces of gold per ton
general guven ergenc secretary general of the turkish general staff said today the turkish research ship sismik 1 escorted by an unspecified number of warships would sail into disputed waters in the aegean sea tomorrow morning
electro scientific esio 3rd qtr feb 28 loss
sugar imports subject to the us sugar import quota during the week ended march 6 totaled 25192 short tons versus 29043 tons the previous week the agriculture department said
neyra said since late 1986 peru had sought an accomodation with the world bank under which it would receive more credits than it would remit in repayments
that will leave the cable and wireless group with an 80 pct stake in hong kong telecommunications the government 11 pct and nine pct in public hands
bahia cocoa review
the bank said first quarter total assets increased to 8392 billion dlrs from 7893 mln dlrs in the prior year due mainly to continued expansion in consumer loan and mortgage fields
there is growing consensus that the dollar has bottomed out for the medium term added tom campbell of first national bank of chicago
these measures should also foster greater stability of exchange rates around current levels he said
we appreciate their frustration a senior japanese government official said
but william johnson of the jofree corp disagreed with the oil tariff proposal saying congress should remove price controls on natural gas repeal the windfall profits tax on oil companies allow exports of alaskan oil and provide tax incentives for us oil production or at the least preserve exisiting tax incentives for drilling
after satisfaction of the payments the company will make a second distribution around april 29 it said
we have to keep wages as low as possible he said
japanese investor interest in british gilt edged securities is growing rapidly due to expectations sterling will remain stable despite the drop in oil prices and on calculations gilt prices will firm bond managers said
jp stevens and co inc stn sets payout
rainbow lifts progressive stake to 52 pct
it said it expects the offering to close in may
he said management has done a good job of turning around the telephone answering machine business
in other action nuclear data said it set up a 125 mln dlrs reserve to cover the revaluation of certain domestic medical inventory and the redirection of its us medical sales efforts
the authorities still seem to want to pretend that m0 is important in practice it is likely to be the exchange rate and the election which call the tune lloyds merchant bank chief economist roger bootle wrote in a budget comment
jones said all five will cost between 100 mln dlrs to 120 mln dlrs
the federal reserve board also reported that the manufacturing sector which had been one of the weaker elements of the us economy was showing signs of recovery
nine grain ships were loading and 16 were waiting to load at new orleans elevators trade sources said
the soviets are not in a desperate situation they dont have to buy grains now a usda official said
he noted the final results for the fourth quarter will depend on the allocation of increased costs between the second and fourth quarters
hiram walker resources ltd the previous owner reported liquor profits of 282 mln canadian dlrs in the fiscal year ending sept
nothing like that has happened he said
precipitation during the present campaign has been lowest in northern savannah regions where the cotton crop has especially benefitted from the dry weather fraternite matin said
they also said iran was working to reopen its sassan field part of the same reservoir as abu al bukhoosh and located only a few miles away
the commodity credit corporation ccc has amended its export credit guarantee program line to haiti to add one mln dlrs in guarantees for sales of us wood products the us agriculture department said
austin a design engineering and construction firm said in a statement that it and kawasaki would bid for support facility work worth 200 250 mln dlrs
president reagan said the united states remains committed to the louvre accord in which the seven major industrial nations agreed to stabilize currency exchange rates
such information is misleading and inappropriate the company said
the regions 1986 trade surplus was halved to an estimated 15 billion dlrs he said
a government spokesman in paris said france is favourable to commodity pacts
minnesota mining and manufacturing said it acquired a computerized hospital information systems business from control data corp
on the new york stock exchange diamond shamrock was trading at 16 1 4 down 1 4
western security bank 4th qtr net
banks provision for losses from bad loans in the fourth quarter increased to 217 billion dlrs a 23 pct rise from a year ago
five year government bond rates are currently 1840 pct and the key indicator 30 day bank bills 2653 pct
banking sources said that although the january money supply figures were good compared with annualised rates of 139 pct in december and 102 pct in january 1986 alp growth appeared to have accelerated in february raising government concern
the plan involves nzfp increasing its current holding in amcor to about 20 pct from four pct
it said the offer was made by members of the beerman family holding about 70 pct of the companys stock chairman max gutmann and certain members of the board
american pima ginnings from the final 1986 crop totaled 201129 bales vs 150746 bales in the 1985 crop and 126117 bales in 1984 the bureau said
the charges would then be dropped if the defendants successfully complete the probation period
pesch last week sweetened his bid for the company to 22 dlrs a share in cash and securties or 191 billion dlrs based on amis total outstanding from an all cash 20 dlr a share bid which the company rejected
seven oaks international inc qpono year net
ecuador pumped 245000 to 250000 bpd before the earthquake
for the first half of 1986 the company said it restated earnings to 141000 dlrs or five cts per share from 340000 dlrs or 12 cts per share reported previously
i think it is round about right he said
if they want to lay off the workers fine but we are determined to carry on with our protest until the end a union leader said
a follow up half point cut is anticipated next week
sutliff said improved results should come from four factors higher prices improved market share reduced costs and improved demand
kay called reports that such an offer was imminent premature the reagan administrations cabinet level economic policy council is set to meet today to discuss among other matters agricultural policy but is not expected to address a wheat subsidy offer to the soviet union administration officials said earlier
the company said that magnum abs resins for pipe extension will increase three cts a pound effective april 9 as previously reported
usda releases its official plantings report on march 31
redzuan said the mines department would approve new mining licences only if a six month review of production trends showed that local mines were not overproducing
fed funds were trading at 6 3 4 pct when the fed began its action
there is talk the grains floor will shift to the midam and the financials will move to the grains area he said
qtly div 20 cts vs 20 cts previously pay june two record may 12
the bass family holds an 11
american president cos ltd said its american president lines shipping subsidiary obtained final approval from us and japanese authorities to lease four new ships from lykes bros co
robert vanasek the house speaker designate was quoted in the minneapolis star and tribune as saying we are taking their dayton hudson concerns very seriously and we are going to do what we can to help
he said he was also concerned by the decline in domestic oil exploration
development corp of america dca merged
as of december 31 cpc had bought about 15 mln of its common shares adjusted for a 2 for 1 split in january for a total cost of 6218 mln dlrs according to its 1986 annual report
the dinar is strong and stable and we intend to preserve its stability he said
anything smaller than 50000 francs will be governed by the unchanged more demanding rules that apply to public issues
the deals are expected to be completed by july 31 kellwood said
grain analysts surveyed by the american soybean association asa projected acreage this year at 591 mln acres of soybeans and 647 mln acres of corn
imports fell by 94 pct in february from january
nz foreign reserves fall slightly in february
the first quarter average for the index also was 539 pct
toys r us inc toy 4th qtr feb one net
it said indonesia did not achieve its goal of self sufficiency in soybean output in calendar 1986 because it did not meet a planned increase in area planted and because yields have remained below target
it said formation of first national bank corp will result in a one for one stock exchange for shareholders of first national bank in mount clemens
marine midland mm may reclassify brazil loans
however he added we certainly welcome the secretary for monetary affairs david nendicks referral of this very important matter to the standing committee on company law reform and are hopeful that the process will lead to the development of general principles which can be embraced by all constituents of the hong kong market
the credit line was agreed by a joint economic industrial commission
finance minister kiichi miyazawa told a parliamentary session the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
but the market has to bear in mind that time marches on and the situation changes said mcgroarty of discount
soybean oil cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage mln lbs domestic 10500 10500 10053 10053 exports 1350 1350 1257 1257 total 11850 11850 11310 11310 end stcks 1360 1200 947 947 avgprice 145 160 150 170 1800 1800 note average price in cents per lb
siemens wants to amend telecom plus tele pact
sosnoff said his 28 dlr per share bid for caesars which is scheduled to expire may 15 still stands and he remains receptive to negotiating a transaction to buy caesars on friendly terms
okb issues 100 mln canadian dlr bond
it said the notes will be issued in registered form and be available in denominations of 10000 us dlrs and in 5000 dlr increments above that amount
cme sets may 29 start for lumber futures options
sheikh ali al khalifa al sabah was quoted by the local daily al qabas as saying that none of the opec members has asked for such a meeting he also denied that kuwait was pumping above its opec quota of 948000 barrels of crude daily bpd crude oil prices fell sharply last week as international oil traders and analysts estimated the 13 nation opec was pumping up to one million bpd over its self imposed limits
bundesbank reported to have no plan for rate cut
platinum demand estimated 17 pct higher by 1991
intl totalizator itsi sees better 1st qtr
in a filing with the securities and exchange commission leucadia said its lnc investments inc a newark del investment firm and charter national life insurance co a st
vismara primarily produces a variety of pork products
bond prices have been drifting sideways in a narrow range against the backdrop of a cloudy us economic outlook diminished chances of a change in federal reserve board policy and a stable dollar
current prospects for this years grain crop in bulgaria and romania appear less favorable than in 1986 the us agriculture departments officer in belgrade said in a field report
for example the 409 mln barrels discovered in the five years 1980 84 represent about two years consumption he said
may said the remaining outbreaks were caused by salads and mixed food turkey seafood pork eggs and other foods
ball corp bll completes acquisition
it also introduced a new weekly foreign exchange auction only for parastatal organisations and the private sector where the exchange rate is allowed to float in accordance with market demand
with several billion dlrs worth of additional pik certificates scheduled to be issued in the coming months the usda would be well advised to encourage the exchange for grain by adjusting the ascs prices cash grain dealers said
fed expected to add reserves in money market
newmont mining corp reduces stake in peabody
rjr nabisco rjr files 500 mln dlr debt offer
costco wholesale corp cost 2nd qtr feb 16 net
brazil is living through a crisis at the moment and it is not conceivable that exports be hit he told the gazeta mercantil newspaper
biogen nv said as part of a program to reduce expenses it is in talks on the sale of its geneva switzerland operations
successful completion of the offer would increase shvs stake in ic gas to 398 mln shares representing around 279 pct of issued share capital it said
to the south however he said the weather was wetter and some cattle are coming off pasture weighing 75 to 100 lbs less than normal after having gained only 75 lbs all winter
the spokesman also would not comment on speculation that the board was to discuss a sale of securities to the public
it will be available in denominations of 1000 and 10000 stg and will be listed in london
algemene bank nederland nv abnnas chairman robertus hazelhoff said the banks 103 pct increase in net 1986 profit to 527 mln guilders from 478 mln in 1985 was encouraging in view of the sharply lower dollar
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
franklin ohio insured tax free sets payout
german capital account in deficit in february
if interest rates fall after the mortgage is made the lender is earning an above average return on assets
the week marked the second half of the two week bank statement period that ended on wednesday
stanadyne inc stnao 3rd qtr net
but jardine was also subject to increased taxes of 340 mln dlrs last year against 292 mln in 1985 they said
the wagner and brown afg offer does not expire until april 14 so shareholders have time to make their decision he said
nippon columbia co ltd ncolt will make a one for 20 bonus stock issue on july 14 to pay back remaining premiums accumulated by 45 mln shares issued at market price through public placement in september 1980 a spokesman said
italian prime minister giovanni goria told the cabinet on monday he was worried about the increased tension in the gulf but said americas retaliation against iran had been limited
shr loss 98 cts vs loss 111 dlrs net loss 3863000 vs loss 3483000 revs 1081000 vs 799000 note 4th qtr data not given
us district court judge eugene a
with stringent import regulations and the government increasingly short of foreign currency black market dollars are used to finance smuggled imports from neighbouring countries mainly egypt kenya ethiopia and zaire
rising demand is why oil traders and analysts expect a draw in stocks of about of about one mln barrels
the nine banks are oversea chinese banking corp ltd united overseas bank ltd uobmsi banque paribas bangkok bank ltd citibank na standard chartered bank ltd algemene bank nederland nv abnnas banque nationale de paris bnpppa and chase manhattan bank na
sharp is a time sharing network and database company specialising in finance economics energy and aviation
but it said it still believes a twa usair combination would create certain synergies that would be mutually beneficial to both carriers twa stressed that it reserved the right to revive its takeover attempt and said it may continue to explore the feasibility and strategies of gaining control of usair
the south african sanctions law enacted by the united states to protest the apartheid laws of racial segregation practiced by south africas white minority government prohibited imports of uranium ore and oxide iron and steel coal and textiles at the end of 1986
dutch bonds seen rallying further this week
conagra said the new company in which it holds a 45 pct stake will be called trident seafoods corp
ziegler co inc zegl sets quarterly
the rating agency also cited the holding companys continuing high level of problem assets including significant exposure to latin american debtor countries that will continue to pressure profitability
bank of ireland seeks 300 mln stg cd facility
usair offered of buy 50 pct of that airlines stock for 71 dlrs cash per share and the balance for 73 dlrs per share in usair stock
the following proposed securities offerings were filed recently with the securities and exchange commission essex chemical corp esx offering of 60 mln dlrs of convertible subordinated debentures due 2012 through thomsom mckinnon securities inc and painewebber inc
baldrige sees us trade gap dropping soon
lanesborough sells senior subordinated notes
kanan said the loans were for jordans own nine billion dlr 1986 1990 development plan and not for the parallel controversial 13 billion dlr plan for the israeli occupied west bank and the gaza strip
mexico will also sign agreements to reschedule 523 billion dlrs of debt
we hope that in time markheath will become a significant property and industrial company in the same style as adsteam spalvins said in the statement
the company said its board is scheduled to meet march 27 for its regular monthly sessions
several of the regional banks that will meet with volcker tomorrow declined to comment because the talks will be held at the feds suggestion
rigaud blamed the mills problems on an order by duvalier two years ago forbidding hasco from refining sugar
he quoted miyazawa as telling japanese reporters that major industrial nations are aggressively intervening in currency markets worldwide to prevent a dollar free fall
us agriculture undersecretary daniel amstutz indicated the world wheat supply demand situation has become more bullish recently because of developments in the world market and increased consumption
payment is due march 31
the company said the suit involves a patent for a vascular guiding catheter assembly and a vascular dilating catheter assembly
officials in mexico guatemala and ecuador said a continued rise in prices would stimulate production but industry leaders in panama and costa rica said there was still a long way to go
the broken hill pty co ltd brkns said it expects a strong full year result helped by sigificant investment allowance credits in the fourth quarter but net will fall short of the record 9882 mln dlrs earned in 1985 86 ended may 31
the movement to higher oil prices was never to be as easy as opec thought
three month bills closed two basis points lower at 548 pct bid
datatrak inc dtrk 3rd qtr feb 28 net
shr 333 dlrs vs 339 dlrs net 37069000 vs 36902000 avg shrs 1095 mln vs 1005 mln
treasurys baker supports fed monetary policy
the paper said abnormal weather conditions had encouraged the spread of wheat midges in 247 mln hectares in shanxi henan sichuan anhui hebei and jiangsu
however citicorp said in the 8 k filing that it is premature to make such a decision at this time in view of the fluidity of the situation and managements high confidence in the long term outlook for brazil brazils new central bank governor francisco gros met senior commercial bankers here on wednesday and citicorp said formal talks on brazils recent actions and future financing needs should begin in the near future citicorp said in the filing the issue will be re evaluated at the end of the first quarter the bank group continued if it is decided that these loans to brazil should be placed on a cash basis citicorp estimates based on existing interest rates that the impact in the first quarter would be approximately 50 mln dlrs after tax and for the full year would be approximately 190 mln dlrs after tax it added that these amounts include interest accrued in 1986 that has not yet been collected
but it also does not want them to fall
circus circus enterprises cir 4th qtr net
the figure was sharply lower than the 102 billion dinars in outstanding loans at the end of september according to latest central bank figures
banks are being invited to join at four mln stg for 50 basis points and at 25 mln stg for 40 basis points
seagram co ltd vo year jan 31 net
gerber scientific inc said its gst acquisition corp purchased 444646 shares of its 84 pct owned gerber systems technology pursuant to a january 15 tender offer
deutsche bank finance nv is issuing a 150 mln australia dlr bond due april 15 1992 with a coupon of 14 1 2 pct and priced at 101 1 2 said deutsche bank capital markets as lead manager
pegasus gold pgulf reduces debt
it must be approved by a majority of shareholders
qtly div nine cts vs nine cts in prior qtr payable may one record apreil nine
att t cost cutting efforts on target
winterhalter wntlc holders okay takeover
the increase in us banks prime rates prompted concern about renewed inflation but the strength of the us dollar discouraged new buying
shr figures after preferred dividend requirements
bouldikian said recent government measures had succeeded in reducing demand for imports and increasing exports
gmac canada unit issues canadian dollar bond
these concerns were heightened by the may 17 iraqi missile attack on the us frigate stark which killed 37 seamen
gelco corp of minnesota decided to sell gelco express ltd as part of its previously announced program to sell off four operating units to buy back shares and pay down debt gelco express marketing vice president james oneil told 
the mexican state oil company petroleos mexicanos pemex said its far east customers would be charged 1725 dlrs per barrel for isthmus crude in february and 1445 dlrs for the heavier maya
paper will have maturities between seven and 183 days and will be issued in global and definitive form
prime minister yasuhiro nakasone may have been dealt a fatal political blow by the yens renewed rapid rise and the threat of a trade war with the united states political analysts said
strong winds and high seas forced the closure of egypts main port of alexandria and a nearby oil terminal port officials said
the federal government took up nearly 10 billion marks of the fourth quarter 1986 figures and also drew on two billion marks of bundesbank advances at the end of the year when it had not required such a credit in the 1985 quarter
the subcommittees bill would bar imports of digital audio recording equipment that is not made with anti copying chips
the rains caused flooding in western and northwestern buenos aires as more than 750 mm have fallen in some areas there since february 23 while the annual average is 1200 mm
chinas 1986 87 sugar crop has been revised to 526 mln tonnes raw value down four pct from the previous forecast and five pct below the previous season the us agriculture department said
the caisse said foreign equity investments represented 36 pct of total assets while us government securities accounted for another 52 pct of the overall portfolio
these agreements covered less than 40 pct of spanish workers cuevas said with the rest still in wage negotiations
the statement of the reports auditor was qualified as was the previous one because of the unkonwn final impact of the judgement won by pennzoil co pzl against texaco on charges texaco interfered with pannzoils contract to acquire getty oil co
one of the main architects of the pins proposal us lawyer lee buchheit is adamant that the banks have nothing to worry about
the moves might persuade the us to call off the sanctions despite obstacles to full implementation of the plans analysts said
taiwan announces new round of import tariff cuts
schlang said chemlawn could try to find a white knight if does not want to be acquired by waste management
but officials at bank of tokyo said the spread is intended to compensate for the lack of liquidity and for the uncertainty currently associated with owning dollar securities
foreign turnover dipped to 143 billion marks from 145 billion in the first half of last year although the export quota rose to 83 pct from 79 pct
congressmen urge us soybean program changes
as in the past mulford said progress must be founded on economic reforms and sufficient new financing for debtors both to support those reforms and generate new growth
a 52 pct negative currency influence was partially offset by growth in operations and by structural changes within the group
the bonds guaranteed by the republic of france carry a put and call option at par on the interest payment date in 1990
opec oil exports are priced in us dollars and the dollar has fallen about 30 pct in the last 18 months
man will develop the locally listed soft drinks manufacturer into a securities and commodities brokerage arm and will rename the firm man pacific holdings ltd
however he said there will continue to be difficulties and periods of significant risk requiring creative thinking on the part of the banks
fed may add reserves economists say
diplomatic sources said at todays meeting the spanish delegation also expressed strong reservations about the idea
the personal computer industry has bottomed out and is on the way up again he said
january 1986 exports compared with a december figure of 150 billion guilders and were 25 pct below last years level of 189 billion
mcdonnell douglas corp md said finnair the national airline of finland will purchase two mcdonnell douglas md 11 advanced long range tri jets with options for two more
a spokesman for denmarks largest beet concern de danske sukkerfabrikker a s said its 1987 sugar target was unchanged from 1986 at 365000 tonnes from a steady area of 60000 ha
a high level us trade official said it would be foolish for japan to strike back against the united states for its sanctions on japanese semiconductor electronics products
turnover 214 billion stg vs 211 billion
vms mortgage investors lp ii said it raised its first quarter 1987 cash dividend to 21 cts from 20 cts the prior quarter payable may 14 1987 to shareholders of record april one 1987
baldrige told a house banking subcommittee that the treasury department was attempting to persuade those countries to reach agreement with the united states on exchange rates
current consumption is some 125 mln tonnes
giant food gfs a records 104 pct sales hike
tilden said gencorp expects to realize about 850 mln dlrs in after tax proceeds by the end of 1987 as a result of sale of several pieces of the nonbroadcast assets of the company including general tire
indonesia pressing for compromise over coffee
the loss included a one time restructuring charge of 17 billion dlrs
crude output increased to 98600 tons in january from 93300 tons revised lower in december
they could therefore delay action on the brazilian loans until late may which falls in canadian banks third quarter ending july 31
company said it believes any refunds it may have to make would not materially affect its financial position
moore corp said it has no immediate plans to issue preference shares under the proposed resolution
since last november kio has been aggressively in the open market buying shares in sime darby a major corporation with interests in insurance property development plantations and manufacturing
lisbons civil court decided in a preliminary ruling earlier this month that epac should not be allowed to take part as it had done in the past in tenders for the liberalised share of annual grain imports
twa would have to be the surviving company for the deal to work said one analyst
two new york management investment firms told the securities and exchange commission they had increased their holdings in purolator courier corp to 72 pct from 62 pct
all equity and fixed investment flows of foreigners take place through the financial rand which is considered the main barometer of south africas attractiveness to overseas investors
he said the price royal dutch shell group rd sc paid for publicly held shell oil co shares in 1985 was 51 times cash flow
i am expecting sanctions at least and even more than sanctions sen
texaco tx says some oil flows re established
the only change that could happen is because of the volume we would be told that from such a date registrations would be for june shipment etc arango said
digimed corp 2nd qtr dec 31 loss
i think that is the unrealistic position i would suggest that they ec listen to what we are trying to say lyng also rejected suggestions the us and ec agree a freeze in export subsidies to get the gatt negotiations started
wal mart stores inc said it has completed the acquisition of super saver warehouse inc and super saver is now a wholly owned unit of wal mart
universdal said the profit element can be terminated with payments by the purchaser of either five mln dlrs in 1988 six mln dlrs in 1989 seven mln dlrs in 1990 or eight mln dlrs in 1991
rates were unchanged on those indicated at the time the offer was announced
we havent had a strike on the seaway for years a prolonged strike would have a disasterous effect seaway authority spokeswoman gay hemsley said
the united states has appealed for stronger powers for the general agreement on tariffs and trade gatt to enforce world trade rules
roughly half of this years expected 130000 hectare dutch sugar beet crop is already in the ground a spokesman for suiker unie the largest sugar processor in the netherlands told 
but the smelter remains closed as do the suralco mines at moengo 60 miles east of paramaribo which were closed down by guerrillas last november
venezuela will lend ecuador 50000 barrels per day of crude oil over the next few months to help it meet its export commitments energy and mines minister arturo hernandez grisanti said today
cleopatra kohlique inc cleoo year net
milos milosavljevic also a deputy prime minister said last friday that yugoslavia had repaid 640 mln dlrs of principal and 325 mln dlrs of interest so far in 1987
metropolitan said the offer will be made no later than october 27
shr 32 cts vs 34 cts net 902178 vs 662647 deposits 1747 mln vs 1344 mln note per share amounts adjusted to reflect 10 for one stock split effective sept 16 1986
italian january industrial output falls 34 pct
ongpin said the restructuring of commercial bank debt as well as of 870 mln dlrs of debt by the paris club of western creditor governments in january was expected to reduce the countrys debt service ratio to between 25 and 30 pct from its current level of 40 to 45 pct
canadas february unemployment rate seasonally adjusted fell to 96 pct from 97 pct in january statistics canada said
spot next and one week rates were put at 6 1 4 5 3 4 pct after quotes ranging between seven six yesterday
house panel wants pentagon manage us stockpile
a spokesman for the company said that a statement may be issued later today giving details of the transaction
this agreement serves the interests of lucky stockholders by avoiding the significant cost of continued litigation and the accompanying demands on management time lucky stores chairman john lillie said in a statement
borg warner also agreed to redeem all outstanding series a preferred shares and to pay off on all options at a 4850 dlr a share exercise price before the merger is effective it said
s and p noted that the combined entity would have assets of more than 24 billion dlrs making it one of the largest us bankholding companies
the federal reserve entered the government securities market to arrange three day system repurchase agreements a spokesman for the new york fed said
but a lot depends on oil prices he added
the market sought to buy 340000 tonnes more than double the remaining 150000 tonnes available under the current tender
it said another 400 mln dlrs of seven year 3 month bonds will be auctioned april 1
according to kleinworts sources saudi arabia has already held separate talks with iran and iraq and is urging iraq to be more moderate
the budget will inspire a lot of short term confidence but it was not a good budget for inflation he said jeffrey said he would have liked lawson to say more about the dangers of excessive liquidity build up but overall was not too concerned about a revival of inflation
analysts who know gaf predict heyman will either end up with borg warner or enrich his chemicals and building materials company in some other way
the company said it will seek waivers to defer these payments and those due march 31 for enough time to accomplish the proposed sale of its operations
the estimate for 1986 87 imports was revised to 1642 mln tonnes from an earlier 1645 mln tonnes
egypt purchased 46000 tonnes of optional origin sunflowerseed oil at its import tender yesterday all for may arrival traders said
under terms of the facility leucadia may issue euro notes in maturities from one to six months subject to a maximum of 183 days
in calendar 1986 seamless pipe exports fell to 234 mln tonnes from 299 mln in 1985 and 312 mln in 1981
thomas and betts co tnb wins patent appeal
intercare inc said it expects to report a substantial loss for its fourth quarter ended january 31 because of a writeoff of expenses associated with its recently terminated debt and equity offering
were seeing low prices generate some interest in demand said meyer adding that feed use was up 13 pct last quarter and 15 pct in the preceding quarter
the federal reserve purchased about 500 mln dlrs of us treasury bills for a customer a spokeswoman said
k tel international inc 2nd qtr dec 31 loss
the central bank has issued 53 billion taiwan dlrs of certificates of deposits cds boosting cd issues so far this year to 14042 billion compared with 16 billion issued in the same 1986 period
the irish agriculture department issued a colorado beetle alert today after three of the beetles were found in a box of parsley imported from france
corby distilleries to expand in canada
the company said hanson trust is purchasing the stock for investment purposes adding the agreement includes restrictions on purchase or sale of the company by hanson for the next five years
shr 68 cts vs 78 cts net 2432179 vs 2236471 revs 508 mln vs 351 mln avg shrs 3600000 vs 2850000 year shr 282 dlrs vs 335 dlrs net 100 mln vs 9554658 revs 1775 mln vs 1381 mln avg shrs 3567123 vs 2850000
trump is believed to have close to five pct of uals stock market sources said
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 koehler said
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
oper shr nine cts vs 128 cts qtly div 18 cts vs 22 cts prior oper net 951000 vs 1817000 total income 5010000 vs 5575000 nine mths oper shr 39 cts vs 59 cts oper net 4014000 vs 5936000 total income 152 mln vs 167 mln note current year net both periods includes 750000 dslr provision for possible losses
unemployment should continue to fall slowly as the service sector continues to create jobs
a portuguese court has made a preliminary ruling that the state grain buying agency epac should not be allowed to take part in public import tenders open to private importers grain traders and officials said
sri lanka and imf agree on economic reforms
the hughes board which had previously expressed concern about a us department of justice consent decree that would require baker to sell its drilling bit operations and submersible pump business met yesterday and threatened to terminate the proposed merger
ln short jr president of the company said it sold the unit because of slumping profits due to south africas economic decline
hutchison shares lost one dlr to end at 53 dlrs each today
peistner chairman and chief executive officer of mccrory corp and james nc moffat iii vice president and secretary of eastover corp
denman noted britain remains opposed to the plan and west germany has opposed it in the past
bond international also said in the document that while it plans to sell an interest in the complex it will hold the hk tvb shares as a long term investment
however the west german banking sources said institutions here felt it was particularly important that brazil presented a credible recovery program and that there be a rapprochement with the imf
telex tc adopts shareholder rights plan
it said the project also seeks to reduce agricultural nutrient imbalances by building the capacity for phosphate fertilizer production and to improve institutional efficiency by introducing modern economic financial and operational systems and techniques
rotterdam grain handler says port balance rose
liffe is discussing such a link with the cbot they said
mcgraw hill mhp buys harper row hpr unit
marcom telecommunications mrcm 2nd qtr jan 31
also in pursuit of shorter term financing the bank made greater use of bond auctions to market new issues with two to five year maturities bouey said
bank of new england corp bkneo 1st qtr
fmd inc said it has agreed to acquire bankers protective financial corp for 28836000 common shares subject to approval by the texas state board of insurance
system software associates ssax 1st qtr net
anadarko petroleum corp said it filed with the securities and exchange commission a registration statement covering a 100 mln dlr issue of convertible subordinated debentures due 2012
to refinance the redemptions system energy said it would ask the sec for approval to issue up to 300 mln dlrs of new first mortgage bonds
but if average consumer prices are higher than 1986 the rate of growth for these fuels may be below last years 36 pct
us treasury secretary james baker said an agreement has been reached by members of the organization for economic cooperation and development oecd to control the unfair trade practice of using tied aid to promote trade
southern mineral corp smin 4th qtr loss
when they the philippines see the whole package they may realize that this is not a mexican deal one banker said of the argentine agreement
biffex looking to join new futures exchange
inflows totalled a billion dlrs in fourth quarter 1986
sterling drug sty sells assets of subsidiary
afl cio president lane kirkland this year angered the administration when he said any trade bill reagan would sign would not be worth passage in congress
revenue would provide 4884 billion shillings leaving a deficit of 2849 billion to be financed through domestic and foreign loans
this brings total money market help so far today to 241 mln stg and compares with the banks revised estimate of a 350 mln stg shortfall
biotech research laboratories inc btrl 4th qtr
but while the uk is keen to see some movement on the issue by japan it is also worried that recent anti japanese rhetoric may cause developments to get out of hand officials said
a 24 hour strike by belgian public employees protesting against a government pay offer disrupted transport and hit ferry services and shipping port and union officials said
timber realization co said it has agreed to sell its remaining 50000 acres of timberland property in mississippi for about 113 mln dlrs in cash
toronto dominion unit issues australian dlr bond
the cross field allowance will mainly benefit participators in those fields which have no prt liability the report said adding that the timing of development of such fields may be advanced
first bank system inc fbs 1st qtr net
shad favors shortening disclosure period
lets see if we can try to push them usda to do something without legislation glickman told the hearing
minister of energy and mines arturo hernandez grisanti said discussions are currently taking place to finalize the terms of the contract with the foreign partner
the company said it charged that former jwt group unit executive john peters has breached his fiduciary duty by disclosing confidential information about the company and its clients
the shell oil dollar net income fell 47 pct in the year while the additional effect of currency movements reduced the contribution to group net income by 57 pct to 472 mln stg
ongpin sweetened his original offer by guaranteeing that his government would redeem the notes at 7 8 pct over libor if there was no buyer in the secondary market
major local banks ventured into stockbroking after being granted seats on the stock exchange
the issues are 150 mln stg of 2 1 2 pct index linked treasury stock due 2011 and 100 mln of 2 1 2 pct index linked treasury due 2024
the world bank is expected to approve a 310 mln dlr economic recovery loan for the philippines at a meeting of its executive board today in washington central bank sources said
cancapital says it sold poco shares
capitalized product development costs 276000 dlrs vs 640000 dlrs
china to borrow 390 mln dlrs
the western name was to have disappeared at midnight last night
japan firm develops ultra heat resisting rubber
funaros trip follows the decision by brazil 10 days ago to suspend interest payments on 68 billion dlrs of commercial debt
period ended february 28 shr 26 cts vs 14 cts net 284 mln vs 152 mln revs 3057 mln vs 1796 mln six mths shr 50 cts vs 28 cts net 546 mln vs 303 mln revs 5862 mln vs 3598 mln avg shrs 100362000 vs 91360000
turkey accused greece of breaching the 1976 berne agreement under which both sides agreed to preserve the status quo in the aegean until their continental shelf dispute was settled
in addition multifoods is seeking to stop bregman partners from acquiring any more stock or voting the shares it reportedly owns the suit said
while the initial westpac issue offered investors only 15 basis points over libor morgan guaranty said westpac has agreed with pacific securities that it will pay investors the remaining 35 basis points
the company attributed the improved results to increased purchases of its zfour language and development environment for computer software
but he said there was still a danger that the correction of the dollars value could overshoot
standard gained 6 3 4 to 71 5 8
atico had year end assets of about 534 mln dlrs
the singapore high court has adjourned summary judgement for the second time on a national bank of brunei bhd case for loan repayments from khoo teck puat and 15 associated companies court sources said
general hydrocarbons assets now consist of cash and montana power co mtp shares
shr loss five cts vs profit 36 cts net loss 784000 vs profit 4793000 revs 90 mln vs 79 mln year shr profit 27 cts vs profit 65 cts net profit 4010000 vs profit 8539000 revs 273 mln vs 214 mln
the sources were quoted as saying that after opec had in march demonstrated its commitment to quota agreements some members had raised output last week
but he maintained progress was being made in the sweeping talks with the unites states that got under nearly two years ago
1985 oper net excludes extraordinary profit of 11 mln dlrs
sharp cuts on variable rate mortgages announced earlier this week by the nations two largest building societies and by national westminster bank plc reflect growing competition for new business officials at all three institutions said
a 0 92 plan does not go far enough in decoupling johnson said and would still encourage farmers to plant
bf saul real estate investment bfs payout
about 50 pct of our foreign debt obligations fall due within the next three to five years and will steadily increase the debt servicing burden the paper said
with other components of m 2 such as money market deposit accounts and small time deposits also falling the stage is set for falls in the broader aggregates too economists say
pointing to buoyant uk retail data released yesterday he said lawson had done well to resist pressures for a sharp cut in income tax rates at the expense of a lower borrowing target
fiscal 1987 nonrecurring income items totaled 4322342 vs 1393187 in 1986
cascade said the agreement also includes the exclusive rights to trade through duty free channels worldwide the designer gres accessories
and in the year ended this past march the deficit was expected to have been one billion dlrs lower than the 32 billion dlr shortfall originally forecast wilson said
funds averaged 629 pct yesterday
dealing demand for gilts with coupons around 10 pct has been getting stronger the general manager of the local office of a british securities firm said
shr 11 cts vs nine cts net 105489 vs 88929 revs 2306697 vs 2066636 nine mths shr 17 cts vs 14 cts net 167960 vs 136856 revs 6714468 vs 6026343 note 1987 qtr and nine mths includes tax gain 64200 dlrs and 102200 dlrs respectively
in the communique issued this morning the g 10 said prospects of member countries economies would be improved by stability in the exchange rates of their currencies the g 10 includes the group of seven the united states canada britain japan italy west germany and france plus belgium the netherlands sweden and also switzerland
charter crellin inc said it signed a letter of intent to acquire all outstanding shares of sebro plastics incs capital stock
if that is the case you should recognise that our additional equity capital may very well enable us to offer cash and securities having greater value than gencorp could provide in any similarly structured transaction 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
banca del monte di parma said it will issue up to 20 mln dlrs of euro certificates of deposit on the euromarket
exports projected at 1375 vs 1250 last month
the companies said the agreement is subject to federal home loan bank board approval expected later this year
a crazy eddie spokesman said the companys board has taken no decision on the antar belzberg offer worth some 187 mln dlrs since they own more shares than entertainment marketing
shr one ct vs 14 cts qtly div 11 1 2 cts vs 11 1 2 cts prior net 411000 vs 5299000 revs 885 mln vs 1084 mln note dividend pay may 18 record may one
he said if cereal prices in europe fall so that they are close to world prices the tapioca market there will disappear completely he said the issue may put thailand in a dilemma because it had recently joined other major commodity producers in calling on the ec to cut its farm product export subsidies
eib lends 200 mln francs to french railways
gulf resources and chemical corp said the sale of its stake in imperial continental gas association will result in a pre tax profit of about 441 mln dlrs or 469 dlrs per share fully duliuted in the first quarter of 1987
dlr falls on fears miyazawa says
pressure for new solutions has built up on several fronts with the philippines joining brazil in seeking interest relief and ecuador announcing force majeure on debt payments following a serious earthquake
the icelandic government said it will privatise the state owned bank utvegsbanki the countrys second largest
the finance ministry described todays tender as successful and said the amount raised reflected a change in market circumstances since the last loan issue together with international demand for guilder denominated paper
there doesnt seem to any lack of bonds in the longer end now that also may be the result that any percieved shortage has probably been taken up by provincial funding activities commented berry
however although most analysts and foreign exchange dealers were forecasting a brief period of consolidation or even retracement for sterling none were expecting a very sharp drop in the uk currency
if approved by various creditors and shareholders the company expects the plan to be completed by may 29
lockheed lk gets 1657 mln dlrs in contracts
nymex will expand off hour trading april one
hanson sells finlays unit for 169 mln stg
maytag co said it expects capital spending in 1987 to increase to about 60 mln dlrs from 49 mln dlrs in 1986
ramon diaz secretary of the presidential commission on good government pcgg said anheuser busch had told the government it was interested in buying 14 mln b shares of san miguel
alatenn resources inc atng 4th qtr net
raymond exxons new president singled out the possibility of a closure of one of exxons refineries in france during the interview
he would have preferred an increase in the 10 pct value added goods and services tax introduced in october 1986 but that would have had a short term inflationary impact
moodys noted that texaco guaranteed these debt issues when they were first brought to market
the syndication of the deal was designed to enhance the foreign trade banks relationship with japanese financial institutions bank of tokyo said
the loan will be used for lending mainly by commercial banks and the national rural credit bank mexicos largest agricultural credit lender the bank said
the foreign ministry official refused to rule out japanese retaliation if america went ahead with its threatened tariffs in the middle of this month
bfim sovac offers bond redemption
the presidential office and ariadne representatives in manila were not available for comment on the report
singapore petroleum co pte ltd will revise pump prices of petrol from june 2 an official said
the bangladesh trade deficit narrowed to 191 billion taka in october from 564 billion in september and 243 billion in october 1985 the central bank said
the a shares with increased voting rights closed at 450 crowns for the restricted and 455 for the free shares
reynold metals rlm up on furman selz report
cji industires inc cjiia 4th qtr net
1986 10 months loss includes 103 mln dlrs writedown of certain assets
sales figures for both periods did not differ significantly from prior amounts
harris bank increases its prime rate
japanese tariffs seen as worldwide warning
diplomats said estimates put the 1985 harvest at less than one mln tonnes slightly up on 800000 in 1984
bullish sentiment on the uk economic outlook has been running especially high after last weeks budget seen as popular both with the markets and with british voters
sarney temporarily legalises dlr parallel market
henderson said the major new products in the companys pipeline expected to each bring in sales of over 200 mln dlrs annually were statil a treatment for diabetic complications zoladex a treatment for advanced prostate cancer and carwin a treatment for mild to moderate congestive heart failure
record date for the split will be set in the near future the company said
armor all products corp armro 2nd qtr sept 30
xebec said ibm has historically accounted for about 50 pct of the companys revenues but that total fell to 20 pct during the quarter just ended
in april the pilots union offered to buy out united an allegis subsidiary through an employee stock ownership plan
the central bank for the first time has an instrument with which it really can influence the price of money in this country one banker said
no injuries were reported
qtly div four cts vs four cts prior pay april 22 record april three
fed buying one billion dlrs of bills for customer account fed says
hudsons bay also said it had an increase in 1986 in retail operating profit to 1853 mln dlrs from 1114 mln dlrs but that was partially offset by an increase of 149 mln dlrs in interest costs and 253 mln dlrs in taxes
the most likely explanation was that exchange rate changes were not backed by changes in macroeconomic policies it added
30 1985 278 mln dlrs in 1984 267 mln in 1983 294 mln in 1982 and 280 mln in 1981
of the total set aside for debt servicing omar said 5746 mln dlrs would go to principal and 207 mln to interest payments
but rising unemployment could help to hold down wage demands contributing to a slowdown in inflation to around a two pct annual rate this year and early next the oecd said
genzyme corp said the us patent office has approved a patent for the companys method of testing for serum alpha amylase an indicator of pancreatic disease
national westminster bank plc nwbll announced a 075 pct reduction in the mortgage interest rate applicable to new mortgages taken out from june 19 1987
lower personal wealth from lower stock prices and fears of further falls should dampen credit growth curbing inflationary pressures and import demand in the us they say
each stock is convertible into the companys common stock at 2360 dlrs a share which represents a conversion premium of 242 pct over the last sale price of 19 dlrs a share on march 11
oppenheimer industries opp sees year loss
a study published in the new england journal of medicine yesterday stated that the spread of an unusual strain of salmonella that is resistant to the drug chloramphenicol had been shown to be linked to farms that used the drug to promote the growth of cattle
mitsui and co ltd mitst paid 15 mln dlrs in early may for a five pct stake in zoran corp a california based maker of large scale integrated circuits lsi with computer graphic communications and medical applications a mitsui spokesman told 
cofab said its group of companies manufacture specialized cooling and lubricating systems for the oil and gas petrochemical utility pulp and paper and marine industries
arbed sees need to maintain pressure on costs
investment firms raise orient express oeh stake
cis technologies inc said it executed a formal share purchase agreement with swiss reinsurance co of zurich switzerland
the consideration of 295 mln stg will be met with 182 mln stg in cash and the issue of one million ordinary carlton shares it said
the news had little immediate impact on the convertible bond market because participants are unsure when the new rates will be introduced and because the timing of parliamentary approval of the tax reform bills is uncertain due to opposition to them securities dealers said
the us government has attempted to remedy the trade imbalance by driving down the value of the dollar
orbit oil and gas ltd said the value of its oil and gas reserves increased by 19 pct to 526 mln dlrs from 442 mln dlrs reported at year end 1985 according to an independent appraisal
it will initially employ 29 aiming to increase numbers to 35 by the year end it said
martin processing inc said its board approved an agreement to be acquired by courtaulds plc coul for 20 dlrs a share
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
pillsbury said the sale will occur as soon as practicable considering the business and legal contigencies
federal express corp fdx 3rd qtr feb 28 net
stanley simon was charged with extorting 50000 dlrs from a defense contractor in the first indictment in a corruption probe involving two congressmen a former aide to president reagan and other government officials
an attorney for ammeen who is named as a defendant asked the court to dismiss the lawsuit against his client
the narrow currency movements of recent weeks strongly suggests the six leading industrial countries have tamed the normally unruly financial markets and next months talks seem likely to build on that stability
the three shell vessels are lakeshell eastern shell and northern shell which range in size from 6000 to 10000 tonnes shell said
the index also showed that natural gas and electricity were unchanged last month but down 35 pct from the february 1986 figure the department said
the debentures will not be redeemable before april 1 1992 and are convertible any time to labatt common shares at 27 dlrs each said labatt canadas biggest brewery
the bureau noted australias terms of trade had fallen by 199 pct since the fourth quarter of 1983
philip crosby associates inc said it has agreed to acquire process integrity inc of dallas a computer software designer for undisclosed terms
the tender offer would likely heighten financial risk and increase leverage for gencorp s and p said
brazil is talking to bank creditors at miami during a meeting of the inter american development bank its first discussions with these creditors since it suspended interest payments last month on its 68 billion dlr debt to commercial banks
gillette canada issues 70 mln stg bond
the agreement came after a similar agreement with britain this week and follows an accord between nigeria and the paris club of western creditor governments in december to reschedule some 75 billion dlrs of official debt
siew said the talks starting on april 14 would cover us calls for taiwan to open its market to american products purchases of major us machinery and power plant equipment import tariff cuts and protection of intellectual property
the board will offer 35000 bags at its next auction on april 14
prices for 03 pct and 05 pct sulphur remained unchanged at 2250 and 2185 dlrs it said
portugal which joined the community in january 1986 was estimated at 1275 mln tonnes white equivalent unchanged from the previous forecast and compared with 1241 mln tonnes for 1985 86
icn has been the focus of consirable investor attention in recent months because of virazole which has undergone clinical trials as a possible treatment of some aids related diseases
it opened at 3438 to the us dollar today and is expected to rise further to 33 in june and to 32 by end year some foreign bankers said
the historical cross rates for sterling and the mark tell much the same story
quarter point prime rate increases to 7 3 4 pct by citibank and chase manhattan bank today will be followed by other banks only after they see clearer signs of the federal reserves policy intentions economists said
mca inc mca sets regular qtrly payout
net includes tax credits of 860000 dlrs vs 285000 dlrs
altex industries inc said it has agreed in principle to buy 82 pct of two privately held affiliated computer retail companies for an undisclosed amount
they added that dauster is keen to raise the contribution quota as the institute needs money to repay central governmnet funds released to finance ibc purchases at the guaranteed producer price
the backlog of orders at end may was 122 ships of 370 mln gt against 125 ships of 373 mln at end april and 233 ships of 599 mln a year ago an association official said
but debt must be managed effectively or it hampers development conable defended his reorganisation plan for the bank which he said was aimed at improving efficiency and limiting bureaucracy
qtly div 24 cts vs 24 cts prior pay may eight record april 17
it said instead that such moves as increasing oil reserves and more exploration and development research would help to guard against or mitigate the risks of increased imports
this should continue through the second half to enable passenger yields to end the year up 76 pct a strong performance from the 29 billion dlrs in cash under management also improved profits james capel said
bundesbank vice president helmut schlesinger will chair the meeting as president karl otto poehl has a private engagement
funaro who travels to italy this evening said it was unclear if he would go to japan on friday or return to brazil first
moodys said it would assess the companys future financing flexibility in light of current negotiations of existing credit and loan agreements
federal reserve board chairman paul volcker said current data does not give a clear sign that the deterioration in the us trade balance has yet been reversed
internationalisation of the yen through expansion of overseas portfolios in yen assets is the key to the success of global trading of yen bond futures said katsuyuki okayasu general manager of yamaichi securities co ltds bond division
forcing reciprocity in one sector by imposing barriers would simply lead to retaliation from the other party he said adding that overall reciprocity can only be achieved by trading off disadvantages in one sector for advantages in another
fish said the pact that was rejected contained a cost of living increase tied to the canadian consumer price index but no wage increase
fed sets two billion dlr customer repurchase fed says
pests and disease which destroyed 11 mln tonnes of wheat in china in 1986 are threatening crops on 1164 mln hectares this year the china daily said
subsequent rates on the inverse floater will equal 11 1 2 pct minus the product of three times libor minus 6 1 2 pct a thomson officer explained that the coupon of the inverse floating rate tranche would increase if libor declined
the factors affecting the us currency have not changed since before the paris accord they added
soviet officials have previously criticized the united states for sending naval forces into the gulf saying their presence serves to increase tension
he was responding to rumours in the international market that brazil had raised its fcoj prices in range of 1075 to 1150 dlrs per tonne
shr one ct vs 21 cts net 24000 vs 612000 sales 2061000 vs 3914000 1st half shr eight cts vs 43 cts net 223000 vs 1220000 sales 4584000 vs 7912000
an eventual issue of bonds convertible into fiat shares is not our responsibility the spokesman told 
shr 16 cts vs 22 cts net 1226597 vs 1327016 revs 6598580 vs 5921828
yulo said prices were driven up because of speculation following the sras bid to control production
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
representatives of amoco were not immediately available for comment
japanese banks want nigeria to make clear its debt repayment scheme as well as its economic reconstruction plans during the two day meeting here the sources added
morgan headed a syndicate that won the bonds in competitive bidding
the financing involves a 75 mln dlr euro commercial paper program which will be supported by a 75 mln dlr committed syndicated revolving credit
regarding the companys shareholders meeting tuesday gabelli told there was nothing said that caused me to sell or buy he still thinks values are 140 dlrs per share or more and has clients that asked to buy more
the prior results reported income of 2421000 or 121 dlrs per share
they will also be listed in luxembourg
honduras will tender april 13 under public law 480 for approximately 52500 tonnes of various wheats in bulk an agent for the country said
the declines were offset by a 55 pct increase in grocery store sales and a 99 pct gain in hardware sales
he stressed that the public sector debt bonds will not be exchanged for shares of stock in state owned companies
the company said the offering is being made at 3050 dlrs a share
the decision upholds a court ruling of last july
national australian bank plans australian dlr bond
new rates which affect both indian and foreign banks also include a one percentage point gain to an annual 10 pct on deposits of two years or more but less than five
arkansas best also said that if the industry sustains the upcoming 29 pct motor carrier rate hike it will offset the teamster labor increase scheduled for april 1
thai natural rubber exports rose to 763331 tonnes in 1986 from 689964 a year earlier the private board of trade said
shut in crude is the surplus between the total amount of oil being produced and the amount being purchased by refiners
investor martin t
goldman last year sold a 125 pct stake to sumitomo bank in exchange for a 500 mln dlr capital infusion
a group of canadian lawmakers from ontario today asked their us counterparts to exempt canada from the mandatory trade retaliation provisions in a major trade bill being considered by the us congress
if usair were to acquire more than 51 pct in the tender it would be required to sell the excess within one week
interest rate differentials between west germany and the netherlands are the main factors that trigger capital flows between the two countries as the economic performance of the two does not differ much economists said
the sudden crisis between sri lanka and its giant neighbour deepened as prime minister ranasinghe premadasa told parliament we have our territorial limits and nobody can be allowed to trespass there president junius jayewardene has ordered the army navy and air force to protect the island and its territorial waters premadasa said to a round of applause from the house
svz labour relations manager gerrard zeebregts said they would be meeting their lawyers today with a view to re applying for this permission next week in the hope of gaining approval for the redundancies within a month
mobex corp said 2088461 grant industries inc common shares about 87 pct of the 24 mln outstanding have been tendered in response to mobexs offer
in the northern territory it has a 4375 pct stake in and operates the mereenie oil and gas field in the amadeus basin and owns 32 pct of nt gas pty ltd owner and operator of the alice springs to darwin gas pipeline
first federal bank ffbno 2nd qtr march 31 net
ctc which already holds 174 pct of canadian tire common said it would therefore not take up any shares tendered under its offer unless they totaled at least 11 mln or another 327 pct of canadian tire common
most expect an increase in inventories of as much as five pct to offset a steep four to five pct drop in final sales in the first quarter gnp accounts
however warburg securities economist ian harwood said his firm was sharply revising its 1987 current account deficit forecast in the light of the latest data cutting one billion stg off the expected full year total to about 175 billion stg
this is a complex issue
the five year transaction has a 14 1 4 pct coupon and was priced at 101 3 4 pct
the aidc last week said it issued under the same facility the first of several five mln australian dlr denominated euro commercial paper tranches in asia
french agricultural bank issues 300 mln franc bond
light showers in southern sichuan increased topsoil moisture for corn planting which likely is off to a slow start due to earlier dryness it said
sterling held its buoyant tone throughout
anthony maccia vice president of woodhouse drake and carey was named second vice chairman and clifford evans president of demico futures was elected treasurer
california energy co inc said drexel burnham lambert inc is highly confident it can provide the company with 160 mln dlrs of private financing subject to certain conditions
the document was prepared by a private committee formed by prime minister yasuhiro nakasone and led by former bank of japan head haruo maekawa
both we and gulf hope very much there will be no occasion for either the put or call to be exercised holden brown said
china seen unlikely to raise sugar imports
finlands state owned mining company outokumpu oy said in a statement it was entering spanish markets as a shareholder in iberica del cobre sa a manufacturer of copper products
ciba geigy unit spins off into operating group
reserves were projected to fall at most 150 mln dlrs this year he said
we are encouraging creditor banks to grant new loans to make argentine growth possible said knox who arrived in argentina last thursday
it carried a 10 year maturity a coupon of six pct and price of 100 1 4 to yield 597 pct at issue
the government is determined to ensure that papua new guinean ownership in minerals and petroleum projects increases in an orderly way he said
ethiopia minister sees africa debt payment problem
sale is paying 36 mln dlrs in cash on completion with the balance plus interest to be paid in equal instalments over the next six years
asked if the administration had ruled out offering to subsidize wheat exports to the soviet union under the departments export enhancement program lyng said no
end 1986 net assets totalled 1185 mln dlrs
the bundesbank allotted only 61 billion marks yesterday in new liquidity in a repurchase pact at an unchanged rate of 380 pct thus subtracting some 88 billion marks from the market as an outgoing 149 billion pact expired
philip crosby associates inc said its fourth quarter and annual earnings report will be delayed two more weeks
shr loss six cts vs profit three cts net loss 368188 vs profit 149334 revs 39i3523 vs 4129240
on the economy seger called the latest figures in gross national product a modest upward revision
but the financial statements are a snap shot and a recording of history
the sale is due to take place on april 1 with the proceeds intended to reduce group debt in the short term
arlan stangeland r minn and harold volkmer d mo have both expressed interest in expanding the english bill to include a 0 92 program for feedgrains
the banks 1986 balance shows paid up capital of 31 mln dinars
banner industries inc said 198 mln of the outstanding 20 mln shares in rexnord inc were tendered pursuant to its 2625 dlr a share offer that closed at midnight est feb 27
barnett banks bbf files against federal board
they expected low early march output to pick up towards the end of the month as buyers sought to fulfill their contractual obligations
family health system inc said the federal bankruptcy court in fort worth texas has approved its offer to purchase sheppard dental centers incs assets from a chapter 7 bankruptcy proceeding for about 300000 dlrs
robert heller a member of the board of governors of the federal reserve system said commodity prices could form a useful guide for setting domestic and international monetary policy
the unadjusted index fell 35 pct from a year earlier after a 23 pct year on year drop in january
st gallen launches 50 to 60 mln swiss franc bond
sosnoff also informed the sec that caesars had offered to buyout his holdings several times during the past year
they saw near term technical support at 1825 marks and 145 yen and resistance about 183 marks and 146 yen
brazilian seafarers strike damages oil exports
but bankers said a move toward a greater governmental role will be gradual
paradise said commercial bank lending agreements it entered into in june 1986 include retained earnings requirements that limit the amount of earnings available for distribution to shareholders
transtech industries inc trti year net
last years maize harvest totalled 128 mln tonnes according to official figures
uk money market given further 68 mln stg help
the rate will be reset monthly or quarterly and will be subject to a maximum of libor and a minimum of the new york feds commercial paper composite rate
kapok corp kpk 1st qtr dec 31 loss
shr 152 dlrs vs 137 dlrs net 1445 mln vs 1273 mln revs 9098 mln vs 8247 mln avg shrs 951 mln vs 929 mln 12 mths shr 462 dlrs vs 405 dlrs net 4359 mln vs 3721 mln revs 328 billion vs 294 billion avg shrs 943 mln vs 918 mln
bankamerica is the second largest bank holding company in the us moodys reduced the subsidiary bankamerica overseas finances senior debt to ba 1 from baa 3 and subordinated debt to ba 3 from ba 1
the roy disney family disclosed in a filing with the securities and exchange commission that it made a bid to acquire holly sugar corp for a package of cash and securities
there were no bales awaiting review and 985 bales awaiting decertification
a key house trade lawmaker representative richard gephardt also announced he would seek to force japan and other countries with huge trade surpluses to slash their surplus by 10 pct a year for three years
he said the minister feels personally betrayed by bankers who insisted mexicos 13 16 pct was a rock bottom spread that could not be duplicated
there will be some impact on the real economy but it wont be that big said another
a ministry spokesman said in some central areas especially in the rhineland farmers have taken advantage of warmer weather and started plantings in the past two days
the company last declared a stock dividend also 10 pct in march 1986
the eib has already lent a total of 600 mln francs to sncf for the high speed train system in 1985 and 1986
official figures show bonds floated by government companies have been heavily oversubscribed
s african producer price inflation rises in april
poehl says currency market intervention cannot substitute for correct economic policies if exchange rates are imbalanced
argosystems is a clear leader in its field
export development corps 15 billion yen of 4 1 2 pct euroyen bonds due 1992
us senate hits ec oils tax vows retaliation
shr two cts vs seven cts net 164000 vs 417000 revs 1345000 vs 2021000
1985 4th qtr and year include loss of 131 mln 19 mln dlr respectively
the new mine which is being developed at mahd adh dhahab in the west of the country and should open in the first half of 1988 would have an annual output of about 3000 kilos of gold smelted from around 120000 tons of ore he said
passport travel inc pptio 2nd qtr may 31 net
however kuwait is perplexed that this time the iranian charges are accompanied by accusations that the vessels were undertaking espionage activities it said
since lerner heads a bank holding company with assets greater than one billion dlrs he said he is barred by law from serving as a director or officer of ameritrust or of having his representatives on its board
paper asks conable to prod indonesia into changes
first chicago later said that lead managers participating in the syndicated loan would receive a flat fee of 35 basis points
he said rumors of the spin off had been around for a couple of days baker said the unit was very profitable but it wasnt getting the type of exposure atlantic richfield sought and its value was not reflected in the companys stock price
the government is also lowering its borrowing requirements through bond tenders as a result of the surplus
the company said top management of linotype plan to remain with the unit which has operations in the united states west germany and the united kingdom
japans external reserves rose to a record 5173 billion dlrs at the end of february from the previous record of 5146 billion at end january the finance ministry said
these do not have any economic clauses but provide a forum for discussions on possible future economic agreements collect statistics and draw up market analyses
investor mulls kappa kpa radiation rads merger
the stated maturity date of the issue is may 1 2017 but the deal has an expected life of 36 years which will vary with the rate at which homebuyers prepay their mortgages the pool itself consists of federal national mortgage association fannie mae securities paying 1050 pct
interest on the notes is due today
in 1985 adnoc marketed a total of 476000 bpd of crude oil and 72 mln tonnes of refined products
he said farmers now must participate in farm programs in order to receive credit for planting and to protect farm income
weyerhaeuser co is offering 200 mln dlrs of convertible exchangeable preferred stock at 50 dlrs a share said morgan stanley and co underwriter
an explosion and fire today damaged a grain elevator in bancroft iowa destroying thousands of bushels of grain authorities said
treasury secretary james baker said he hopes yesterdays small increase in two major money center banks prime rate was a temporary phenomenon
the fall in pre tax profit corresponded to the losses on stocks in the oil and gas sector at the beginning of 1986
narusawa said the us is unlikely to push the yen up further because this might spark off inflation and depress the us economy before the 1988 presidential election
theres another pool of cash at the table now he said
japanese aluminium output fell to 5298 tonnes in february from 7472 in january and 14280 a year earlier preliminary international trade and industry ministry figures show
qtly div 65 1 2 cts vs 65 1 2 cts prior pay april 15 record march 19
shr 40 cts vs 75 cts qtly div 15 1 2 cts vs 15 1 2 cts prior net 117 mln vs 214 mln revs 4475 mln vs 4452 mln nine mths shr 104 dlrs vs 199 dlrs net 299 mln vs 568 mln revs 130 billion vs 128 billion note full name is yellow freight system inc
dry weather in argentina a major corn supplier to the ussr and reported crop problems prompted usda to lower its argentine 1986 87 corn crop estimate this week to 110 mln tonnes down from 115 mln
alaska housing finance corp a local us government agency has become the first municipal entity to tap the syndicated loan market receiving a 150 mln dlr seven year revolving loan said merrill lynch capital markets as arranger
ergenc told the news conference the alert followed a government decision that turkey should protect its interests because of measures greece has been taking in the aegean in violation of international agreements asked how turkey would react if greece attacked any of the vessels he said if there is an attack it is clear what has to be done
moreover most commodity prices are produced consumed and traded on a world wide basis so that an index has a relevance for the entire world he says
eurosterling the market sector which aside from the frns has been in the headlines lately was quiet today ahead of the uk government budget due to be announced tomorrow
dome does not consider transcanadas proposal a formal offer because the pipeline utilitys announcement breached a confidential agreement between the two companies he said
treasury assistant secretary david mulford reaffirmed us backing for the paris agreement among six industrial nations to cooperate closely to foster exchange rate stability around current levels
oper shr loss nine cts vs loss four cts oper net loss 108000 vs loss 55000 sales 3029000 vs 2694000 year oper shr profit 42 cts vs profit 15 cts oper net profit 511000 vs profit 177000 sales 133 mln vs 112 mln avg shrs 1233136 vs 1217981 note current qtr and year figures exclude operating loss carryforward gain of 26000 dlrs vs gain of 88000 dlrs in prior year periods
laser photonics lazr sells common shares
citicorp said only that the situation will be reviewed at the end of the current quarter
shr 72 cts vs 52 cts net 386 mln vs 25 mln revs 2818 mln vs 1745 mln avg shrs 535 mln vs 482 mln note 1987 1st quarter amounts do not includes sales of avia group international inc acquired at the end of the first quarter
american barrick resources corp said it sold two coal supply agreements and substantially all assets at its two coal mines in ohio to peabody coal co of henderson kentucky for an undisclosed price
the issue is guaranteed by general motors acceptance corp
he said that more acquisitions may be made this year but he ruled out an acquisition of a pharmaceutical concern as too expensive henderson said that in his new role of chairman effective april one when he takes over from sir john harvey jones who will retire the biggest challenge ahead lay in continuing the earnings momentum ici has established over the past few years after restructuring and selling off unprofitable businesses
it said through yesterday it had received 7424292 shares under the offer
itel itel completes flexi van acquisition
commenting on the latest week a fed spokesman said that all of the borrowing occurred yesterday and was done by fewer than half of the banks
this brings the total help so far today to 364 mln stg compared with its deficit estimate of 350 mln stg
yesterday minneapolis based nwa reported fourth quarter net of about 98 mln dlrs or 45 cts a share against a loss of two mln dlrs or nine cts in the 1985 quarter
the company said its directors met in new york today at a regularly scheduled meeting
but endaka like many japanese products is for foreign consumption locals and long time foreign residents said
seasonally adjusted unemployment was 229 mln
the move is the first change in the banks us dollar base lending rate since last august when it lowered the rate 1 2 point
inspeech inc said it acquired norma bork associates inc and bork medical services inc for undisclosed terms
akzo will integrate the firms to be partially joined with its own french activities in its consumer products division
digital communications associates inc dcaio said it has entered into an agreement to acquire substantially all the assets of fox technology incs fox research inc subsidiary
santa fe southern pacific corp will later today formally ask the us interstate commerce commission icc to reconsider its earlier rejection of the merger of the holding companys railroad assets a company spokesman said
government officials have expressed concern that the sale could reduce the competitiveness of us chip makers by putting key advanced technology into japanese hands
chancellor of the exchequer nigel lawsons remarks yesterday suggesting there are precise exchange rate targets for the pound undermined sterling dashing hopes for an early cut in uk base rates analysts said
the bank of england said the broad measure of uk money supply sterling m3 rose a seasonally adjusted 22 pct in february after a 11 pct rise in january
convenient food mart cfmi agrees to buy chain
taft tfb rejects 145 dlr shr offer
the company said over the next six months it will use its best efforts to increase its authorized capital and make a six to eight mln dlr rights offering to holders of its convertible preferred stock at 60 cts per equivalent common share with proceeds to be used to repay sums drawn from the interim line of credit and for working capital
its stock rose 8 5 8 to 24 in active trading
the pipeline runs over the red river and under the subsoil nearby according to stevens
both sides gave evidence to the all party standing committee on social affairs today but committee members said they saw little chance of parliamentary intervention
setting issue terms using financial criteria prepared by securities houses and in reference to coupon rates on latest public bonds is now almost automatic they said
imports rose to 2412 billion dlrs up 26 pct from januarys 2352 billion dlrs and 42 pct above the 1698 billion dlrs recorded in february 1986
despite todays rating affirmation s and p cautioned that grace has greater than usual vulnerability to rating change in the next year or two
they said they expected the government to keep the local dollar stable in the near term to give breathing space to businesses experiencing slower exports because of the rise of more than 23 pct in the value of the taiwan dollar since september 1985
the sankei shimbun quoted sumita as saying in an interview it reagan bond is a very feasible idea speaking in the context of the effectiveness of such bonds in halting the dollars decline
baker said we simply believe that more discretion and policy influence should lie with the parties which contribute the lions share of resources he pointed out that despite tight budget problems the reagan administration has asked congress to finance the iadb and other multilateral development banks
un press secretary francois giuliani said the secretary general had no comment on the attack which followed his appeal last friday for restraint in the crisis while he pursued efforts to obtain a ceasefire between iran and iraq
metal traders a listed company was formerly pyrotech resources nl whose chief activity was the development and marketing of high technology smelting processes invented in australia notably the siromelt zinc fuming process
1985 revs restated to exclude revenues from discontinued coal mining operations
in a filing with the securities and exchange commission the wendel group said it bought 54000 zondervan common shares between march 24 and april 3 at prices ranging from 2787 to 2996 dlrs a share
this compares with two pct at the same stage last year three pct in 1985 and 38 to 39 pct in 1984
prior qtr and year figures include operating loss carryforward gains of 76 mln dlrs and 355 mln dlrs respectively
bangladeshs trade gap to widen in 1987 88
current soviet interest in chartering ships to carry grain from the us helped prompt the rumours on world markets
the soviet union also produces 9950 pct but has declined as an exporter recently they said
the company is now locally controlled with 80 pct of its equity owned by the government 14 pct by the dutch firm
standard and poors corp said it lowered the ratings on about 37 billion dlrs of beneficial corps long term debt
in france the largest producer of ec quota and non quota sugar the sugar market intervention board firs said first planting intentions indicate an area about the same as last years 421000 hectares nine pct below the previous year
grumman gq wins 28 mln dlr contract
the government is determined to ride out the latest sharp rise of the yen without taking panic measures because it expects the currencys appreciation to prove temporary senior officials said
poland is still continuing a dialogue with the international monetary fund but this is progressing slowly the source said
tele communications tcoma sells cable systems
thats a very healthy development he added if you asked me about that a year or 18 months ago i would have said that it was terribly protectionist members of congress that is the contemplative members of congress have begun to realise protectionism is not the answer to the 170 billion dlr trade deficit yeutter said
the initial rate for the notes will be set on april 15 at 200 basis points below the 90 day new zealand bank bill rate
but wyss pointed out that this resulted from a drop in the labor force which fell to 1192 mln in march from 11935 mln in february
he said the us debt strategy is sufficiently broad as an initiative to include plans like the philippines
commerce secretary malcolm baldrige has asked the white house to consider blocking the planned japanese acquisition of a major us computer and semiconductor maker us officials said yesterday
the government has said its budget deficit financing requirements will fall to 24 billion dlrs in the fiscal year ending march 31 1987 from 30 billion dlrs the prior year
however it expects growth to recover next year to the 1986 level of two pct
uk treasury confirms bp sale to go ahead
this is a civil action in new york and no one here has any proper details yet he added
shr 67 cts vs 65 cts net 189 mln vs 186 mln revs 3990 mln vs 391 mln nine mths shr 170 dlrs vs 198 dlrs net 482 mln vs 569 mln revs 118 billion vs 12 billion
oper shr 164 dlrs vs 150 dlrs oper net 6200000 vs 5600000 revs not given 12 mths oper shr 276 dlrs vs 258 dlrs oper net 104 mln vs 9600000 note net income including discontinued operation and in both 1986 periods 1500000 dlr gain from change in accounting for which results restated 6200000 dlrs vs 7200000 dlrs in quarter and 106 mln dlrs vs 116 mln dlrs
international proteins recently acquired clarkes family business great south beach sales co for 900000 restricted common shares of which 350000 have been issued to date
the banks assured the churchmen that their lending had declined substantially last year and that they had no intention of building it up as banks from other countries withdrew
in effect large banks say they are making new loans that fund the interest payments on the old debt
mds health group limited in qtly payout
numac said changes introduced by federal and provincial governments during 1986 should help results
bank of japan buys dollars around 14575 yen dealers
a spokesman for the national logistics bureau which distributes and stores sugar said stocks this month were 489437 tonnes
futjitsu withdrew an offer to acquire some 80 pct of fairchild a semiconductor maker after us government officials expressed opposition to the transaction
he told reporters the major currency nations are determined to continue their concerted intervention whenever necessary to stave off speculative dollar selling in line with their february 22 currency stability agreement in paris
mthly div 66 cts vs 66 cts prior pay april 30 reord april 15 note franklin minnesota insured tax free income fund
were getting good compliance from markets from packers and from dealers rosendale said
still leiner noted that the recent rise in oil prices remains a concern for the inflation outlook
it also should increase the companys arbitrage opportunities he added
economy ministry sources said the steering committee was expected today to make a counter proposal not unlike that made by treasury secretary mario brodersohn at the start of the talks between the two parties
funaro denied rumours that he had offered his resignation to president jose sarney
iadb chief warns of eventual latin default
nissan to boost local content in uk cars
edelman who owns about five pct of lucky stores stock last year was rebuffed in his effort to acquire the company
the sources said brazilian beans were cheaper than us origin which may account for the heavy purchases but added there were concerns about deliveries from brazil in the near term due to labour problems there
aluminium capacity growth trend seen insufficient
oil minister arne oeien told the government had today discused the heidrun matter but that no final decision had been taken and several questions remained unresolved
he added that the rrim was aware of the disease outbreak in sri lanka and was monitoring the situation
the plant situated in north sumatra produces mostly for japan
oper shr 45 cts vs 63 cts oper net 3805000 vs 5155000 revs 120 mln vs 106 mln year oper shr 158 dlrs vs 207 dlrs oper net 12991000 vs 15692000 revs 698 mln vs 717 mln avg shrs 8265541 vs 7598522 note current qtr and year figures exclude losses from discontinued operations of 761000 dlrs and 875000 dlrs respectively and disposition gain of 61 mln dlrs in both periods
proceeds will be used for the companys construction program and to reduce short term debt that may be incurred from time to time for interim financing of such building philadelphia electric said
members of the seven member kuala lumpur based atpc account for some 65 pct of the worlds tin output
grain shipments to the ussr usda
exxon xon may close one french refinery
a company statement issued last month said the firm will use the proceeds to repay all debt leaving it with an additional 500 mln dlrs in cash on hand
fleet financial has a 1 senior debt and preferred stock a 2 subordinated debt and provisional a 1 shelf registered securities
the amount bought was not immediately available although the country had sought 30000 tonnes of june arrival whites they said
at that point barring any increased tension in the gulf or changes in opecs policies prices should begin easing
that plan put forward by a senior member of the powerful business organization keidanren with the tacit backing of the post and telecommunications ministry has caused a storm of protest from abroad that japan is seeking to exclude foreign firms from a meaningful position in the market
shr 19 cts vs three cts net 515000 vs 87000 revs 6830000 vs 4107000 six mths shr 36 cts vs 12 cts net 955000 vs 327000 revs 142 mln vs 9755000
centerior energy corp cx sets quarterly
hutton said it reserves the right to buy more than 6332471 shares but has no present intention of doing so
he said six ships were idle abroad in the netherlands spain venezuela france and south africa
ciba geigy was 188 pct of spectra physics and reliance group holdings rel which is controlled by new york investor saul steinberg controls 128 pct
they said they believed the tonnage would be around 60000 but declined to give a rebate figure
atpc officials said they would monitor member countries export figures every three months using customs documents and make projections from such data to see if quotas were likely to be breached within the year long quota period
genetics earlier said first quarter ended february 28 losses rose to 1309000 dlrs from year ago loss of 937000 dlrs
ltv and am general last year sought protection under chapter 11
the industry has called for the end of all discriminatory secondary taxation of petroleum citing them as major disincentives at a time of low oil prices
the annual meeting had been scheduled for the second week of april
nz 77 day t bills yield 2497 pct at tender
shipping minister lord brabazon said a preliminary investigation had started into why the 7951 tonne ferry capsized and sank in little over a minute as it manoeuvred to leave zeebrugge on a routine four hour crossing to dover
brown forman said the split of its class a and class b common shares would be effective march 13
louisiana pacific refused to indicate whether it would repoen the lumber mill which was closed after the sawmill owned by the seventh day adventist church filed a bankruptcy petition in portland federal court in december
uk chancellor of the exchequer nigel lawson has told brazils finance minister dilson funaro that negotiations on brazils debt to commercial banks are a matter for the commercial banks themselves a treasury spokesman said
metallgesellschafts share will remain at 40 pct
uk money market given further small assistance
qtly div eight cts vs seven cts prior payable may 15 record april 29
it had remained unchanged at 67 pct for three straight months before the march decline
it is a sound healthy organization in the year ended february 28 1986 the illinois cooperative reported income of 102 mln dlrs and members equity or net worth of 83 mln dlrs
the bank of spain is relaxing exchange controls to help put spanish banks on an equal footing with european community competitors by the 1993 deadline for the ending of restrictions a central bank spokesman said
according to the restructured accord this would work out at around 25 billion dlrs
citadel said it is continuing to pursue its claims against salomon inc sb which represented it in connection with the disputed proposed merger with great western that was the subject of the litigation
last month the government set a fixed exchange rate of nine kwacha per dollar subject to adjustment against a basket of five currencies for certain official transactions
central bank president francisco gros denied rumours that foreign creditors had filed court actions against brazil to seek payment of its 109 billion dlr debt
whenever we start getting into details the clouds gather one delegate said
vneshtorgbank the soviet foreign trade bank is seeking a 200 mln dlr eight year multi currency syndicated loan first chicago ltd said as arranger and sole mandated bank
under the other proposal received from paul bilzerian pnp shareholders would receive on a blended basis 1667 dlrs in cash and 333 dlrs in liquidation value of cumulative redeemable preferred stock for each common share the company said
japan is sending a three man team to washington to try to halt threatened trade sanctions that officials warn could spark a wave of anti us sentiment here
the administration sugar proposal is expected to be introduced in the house of representatives next week by rep
the group made no specific nominal forecasts of economic or inflation growth in its policy statement
assessing future price trends he said short term spot prices will probably still fluctuate but they will most likely hover around the official opec price basket of 18 dlrs per barrel
average interest rates on yen certificates of deposit cd fell to 427 pct in the week ended february 25 from 432 pct the previous week the bank of japan said
concern in the region has mounted over the threat posed by chinese made silkworm missiles which the us says iran is preparing to deploy near the strait of hormuz
he did not say in what form the indonesian protest was made
the deal which requires swedish government approval will raise the percentage of foreign voting rights allowed in the medical group to 225 pct from 20 pct astra said
the renison goldfields consolidated ltd rgfjs rgc mt lyell copper mine in tasmania will stay open for an extra five years following a new aid package from the state government rgc said in a statement
a us price for the car has not been set yet but edwards said the relatively high car prices in dollars of west german competitors offered an umbrella for jaguar
the agriculture department should make grain deficiency payments and paid land diversion payments in a two third certificate one third cash ratio through fiscal year 1989 carroll brunthaver president of sparks commodities told a house agriculture subcommittee hearing on certificates
willis faber bids for stewart wrightson
us exporters report 150000 tonnes corn corn switched from unknown to ussr for 1986 87
costs of restructuring reorganisation employee training and retraining particularly in the uk automotive businesses together with high research and development spending would affect profits in the short term
he said the fed is focusing instead on the funds rate and is trying to keep it roughly within a six to 6 1 4 pct band
onics first preliminary forecast of the 1987 88 campaign will be released at the beginning of september an onic official said
those who took their land completely out of farm production rather than passing it on to their heirs would have received more generous payments
micro general corp mgeno 4th qtr loss
it said that by sustaining its growth momentum these numbers could more than double by the end of the year
shr loss 42 cts vs loss five cts net loss 40 mln vs loss 446000 revs 589 mln vs 703 mln note1986 net includes gain of 40 cts from discontinued operations
this will mean a net negative cash flow as we pretty much spend our cash flow to find more oil and gas blackburn said the company will search for both oil and gas almost exclusively in estasblished basins roger hemminghaus who will be chairman of the new diamond shamrock refining and marketing co which last year had sales of approximately 16 billion dlrs told his company was taking on some debt
shr loss 24 cts vs loss 41 cts net loss 148070 vs loss 251225 sales 1298257 vs 319588
augar noted that a government imposed formula linking charges to inflation meant that the companys scope for raising prices was limited as long as inflation remains low
cotton planting progressed well in the lower valley coastal bend and along the upper coast of texas
chauvco resources ltd year net
first union corp said shareholders of first north port bancorp of northport fla have approved a merger into first union for 40 dlrs per share or about 5100000 dlrs
one major wall street firm issued a sell recommendation
company officials said although reserves were being depleted zambia could continue to produce copper beyond the end of the century though at lower levels of production
the move has been under study since early may in response to requests by non broker members of the exchange
he said there had been no reply yet from nmic and the talks were only just initial nmic president arthur aguilar and other company officials were not available for comment
credit agricole offers to swap bonds
a 47 pct coupon and volume of 1400 billion yen for the april 10 year bond proposed by the finance ministry this afternoon were taken favourably by the market
it said the support price for wheat was hiked to 300 australs per tonne from 250 previously and for sunflowerseed from northwestern argentina to 450 australs from 360 previously
the bankers said nmic was currently burdened with debts of at least 158 billion pesos and is facing 10 civil lawsuits for foreclosures from major creditors
the current contract expires at the end of march
the product was introduced in new york new jersey delaware connecticut rhode island massachusetts new hampshire and the philadelphia area late last year
last week jacobs investment vehicle minstar inc and an investor group sold its 101 mln borg warner shares
noting that the dollar yen rate is in a sense the most controversial one because of the large us trade deficit with japan analysts said the stage could be set for another test of the dollars downward scope against the japanese currency
1987 per share loss is after deducting for preferred stock dividends
carme inc came 2nd qtr jan 31 net
ual pilots said they would be willing to pay 45 billion dlrs which includes debt for the companys united airlines unit
the louvre and plaza accords show there is a very effective role for the group of seven central banks to operate together towards stabilising exchange rates leigh pemberton said
delegates from the national pork producers council nppc attending the american pork congress in indianapolis voted overwhelmingly to recommend the us congress not to change the farm bill
pdvsas contribution to the treasury last year was 44480 billion bolivars
earlier usair said it agreed to buy piedmont for 69 dlrs cash per share
the bank board said thrifts were net repayers of 44 billion dlrs of borrowings in january in contrast to their 63 billion dlr net increase in borrowings in december
he said the increase would allow the government to issue bonds worth up to about 105 billion taiwan dlrs in the next financial year up from 496 billion in the current year
finance secretary jaime ongpin has said approval of the loan will trigger another 300 mln dlr loan expected from the export import bank of japan
shr 10 cts vs eight cts net 856000 vs 574000 sales 9593000 vs 9232000 avg shrs 8809000 vs 6969000
msa realty corp sss 4th qtr net
year to dec 31 shr profit 636p vs loss 87p final div 24p making 34p vs total 2875p pretax profit 1438 mln stg vs 35 mln general underwriting loss on short term business 798 vs 1543 note companys full name is guardian royal assuance plc grexl underwriting profit on long term insurance business 216 mln stg vs 191 mln loss on discontinued international professional indemnity business nil vs 406 mln stg investment income 2138 mln stg vs 1936 mln less interest payable 118 mln stg vs 143 mln tax 388 mln stg vs 150 mln minorities 33 mln stg vs 23 mln extraordinary item contingency claims provisions on discontinued international business nil vs 550 mln stg
overmyer corp omco regular dividend
the other business are two companies involved in the wholesale distribution of groceries and health and beauty aids it said
ballys 325 unit health and tennis clubs had revenues in 1986 of more than 450 mln dlrs or about 28 pct of ballys total revenues of 164 billion dlrs
conservative opposition leader constantine mitsotakis said he had urged papandreou to accept an offer from nato general secretary lord carrington to help resolve the row
miyazawa was also quoted as saying that he is sceptical about the effectiveness of currency reference ranges even if major nations agree on such an idea as it is extremely difficult to set such ranges
amoco corp said it raised the contract price it will pay for most grades of crude oil by 50 cts a barrel effective today
general mining genmj cautions on 1987 profits
unadjusted the revised index was down 23 pct from a year earlier after a 21 pct year on year drop in december
tajon ranch co trc 4th qtr net
turnover in the uk government bond gilt market in february slipped to 8125 billion stg from januarys 8337 billion although it was 165 pct higher than the 3063 billion in february 1986 the stock exchange said
rbd palm stearin may 275
the agency said it will repurchase treasury bills with a simultaneous agreement to resell them to the same bank at a higher price which will reflect an interest charge
bat said it increased new business by 38 pct in the last nine months after a relatively slow first quarter
kenneth blaylock president of the american federation of government employees said a poultry industry recommendation to move away from the current bird by bird inspection could prove disastrous he said a strengthened bird by bird inspection with slower line speeds was the foundation upon which new inspection techniques should be overlaid
this meeting will be the first here since brazils unilateral suspension of interest payments on 68 billion dlrs of commercial bank debt on february 20
sunflowerseed imports fell to 308200 from 342900 tonnes while rapeseed imports rose to 292000 from 201400 tonnes
dennison manufacturing co said it has signed a letter of intent to sell its dunn paper co subsidiary to james river corp jr for an undisclosed amount of cash resulting in a first quarter charge against earnings
sterivet labs stvtf sets stock split
they touched a high of 538p earlier on news of a 19 pct rise in annual profits to 139 billion pre tax
similar campaigns are needed in egypt yemen iraq and iran
west german planting intentions this year are put at 381000 hectares down from 390500 ha last year he said adding that the 1980 1985 average was 405000 ha
matsunaga cited issues such as a us japan micro chip trade pact foreign access to the kansai international airport project and a new international telecommunications firm
an income tax surcharge and capital gains tax could bring about an urgently needed depreciation of the nz dollar independent economist len bayliss said
total exports expanded to 1044 billion dlrs from 985 billion dlrs in february while imports slipped to 919 billion dlrs from 923 billion dlrs
the agreement took industry analysts by surprise largely because the companies had been such bitter rivals
s and p said that with an improved cost structure mack can compete more vigorously for market share without reverting to a loss position
commonwealth mortgage ccmc buys armonk firm
but as it will not be able to draw on surplus stocks this year man estimates cubas export availabilty will be reduced to 64 to 65 mln tonnes
payment date will be april 13 and existing shareholders will have a preferential right to subscribe to the issue in the ratio of one bond for every 10 shares held between march 9 and march 30 1987
the estate of late resorts chairman james m
the company said it is also submitting to shareholders at its may 21 annual meeting a proposal authorizing an additional class of common stock
the credit card operation services 115000 visa card holders and 35000 merchants in germany it said
walters said that military forces on the destroyed iranian platform had engaged in a variety of actions against united states flag and other nonbelligerent vessels and planes
shr 16 cts vs 13 cts pay april 15 record march 31
on trade the eiu said prospects for 1987 look increasingly sick import growth forecast in december at 45 pct is now seen slowing down to around 38 pct in 1987 with a recovery only to 42 pct in 1988 it said
mobil corp said it will spend over 30 mln dlrs to upgrade a gasoline producing unit at its beaumont texas refinery
the company said that if all the 1985 preferred shares are tendered it will issue 500000 1987 preferred shares disburse 250000 dlrs and cancel all 1985 preferred shares that are tendered
lead bank texas american bank nvs cds were lowered to bb plus b from bbb minus a 3
it had not taken this view after earlier clashes
the pound finished trading here today at 16040 50 dlrs and 29210 45 marks
japan telecom merger could involve uk us firms
the rating agency also affirmed consumers powers bb minus preferred stock and b rated preference stock
qtly div 18 cts vs 17 cts prior pay april 15 record april one
spain agrees sale of corn to greece
westlb is lead manager with hambros bank ltd as co lead
news corp nws starts harper row hpr bid
he made the remarks in conjunction with the release of the energy departments study on oils impact on national security
shr loss 11 cts vs loss eight cts net loss 500000 vs loss 500000 sales 474 mln vs 375 mln year shr profit 70 cts vs profit 89 cts net profit 44 mln vs profit 53 mln sales 1955 mln vs 1483 mln
the committee said the bp refinery which lacks a de sulphurisation plant was likely to be closed or sold unless costly investments were made to enhance the facilitys capacity to refine a broader range of products
tridel enterprises inc sets initial dividend
its not reasonable said a spokesman for international business machines corp ibm which supports western lifestyles for more than 350 foreigners in tokyo
brent is valued at 1945 dlrs up 56 cts a barrel or three pct from the previous week
it did not give the original bid
the analysts agreed the bank was aggressive
charles grassley r iowa would clarify the definition of industry in determining whether or not imports were causing injury to us producers
fraternite matin said the mainstays of ivorian agriculture had been little affected by the dry weather
cash grain dealers reported slow country movement of corn and soybeans across the midwest with even corn sales from pik and roll activity seen earlier this week drying up
last fall afg and wagner and brown offered to acquire lear siegler inc for about 144 billion dlrs but withdrew the offer when higher bids emerged and due to complications of the tax reform act of 1986
results for three and nine mths 1986 includes results from july 1 1986 of sperry corp acquired on sept 16 1986 with net income reflecting ownership in sperry of about 51 pct for the months of july and august and 100 pct for the month of sept 1986
inflation is expected to be 40 pct at the end of 1987 he said adding it may exceed 45 pct by the summer before falling back to 40 pct by the end of the year
in each case the study found little or no evidence that the factor had any impact on the trade deficit
trade body sets new rules for eurodollar managers
west german banks would like brazil to work more closely with the international monetary fund imf with a view to seeking a solution to the countrys debt problems senior west german banking sources said
claremont said it made net purchases of 7800 champion products shares between jan
japans steel industry rationalisation plan is aimed at cutting production capacity sharply over the next few years
irving bank corp said the decline in its first quarter earnings to 286 mln dlrs from 304 mln dlrs in the year ago period were due to the placement on a non accrual basis of 215 mln dlrs and 33 mln dlrs of medium and long term loans to borrowers in brazil and equador
woodside earlier reported attributable net loss rose to 1714 mln dlrs in 1986 from 873 mln in 1985 although group revenue rose to 22084 mln from 17350 mln
bankers protective is a life insurance company based in texas
for the first half of fiscal 1987 it reported a profit of 42000 dlrs or two cts a share compared to a year earlier loss of 294000 dlrs or 17 cts a share
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
the senate voted 67 28 to stop a filibuster and limit debate to 30 hours on a bipartisan measure that requires reagan to report to congress on gulf policy within 60 days and calls for a resolution to be passed in the house and senate on the situation in the volatile waterway 30 days later
the statement said the tensions in the area had reached a serious level and called on both countries to begin immediate discussions
the senator predicted congress would have to decide this year whether to require an expansion of the export subsidy program which currently targets benefits to recapture markets lost to other suppliers which subsidize
fees are 1 1 4 pct for selling and 3 8 pct each for management and underwriting
an investor group led by coniston partners said it plans to continue its effort to gain control of allegis corp despite the defensive maneuvers allegis announced last week
taiwan issues more cds to curb money supply growth
fed expected to set customer repurchases
behind the latest dollar fall lies the belief that last months accord was no longer enough to stop operators pushing the dollar down the dealers said
it compares with 1925 mln planted in the same period 1985
at march 1987 prices the three most likely cost price scenarios call for a long run aluminium price of between 73 and 895 cents a lb depending on exchange rates bird said
the area sown this season was 20 to 22 mln hectares down 299 to 363 pct on last years record 314 mln hectares
goodyear gt predicts first quarter net
daily telegraph chief executive andrew knight told reporters after the meeting that the telegraphs daily circulation had risen by 25000 since september to about 1150000 on weekdays despite added competition from the new independent daily newspaper
overnight rose two points to six pct while most quotes for tomorrow next and spot next were 1 2 point higher at around six 5 1 2 pct
the us agriculture department announced colombia has been made eligible for sales of up to 15000 tonnes of barley malt under the departments export enhancement program eep
he told the daily newspaper ashai shimbun that reagans decision was based on inaccurate data and an exaggerated sense of mitis power to control japanese traders
citing increasing financial strength s and p said it affirmed the debt ratings of citicorp cci bankers trust new york corp bt bank of boston corp bkb and jp morgan and co inc jpm s and p noted that most us bank holding companies have what it termed easily realizable capital resources available to them such as undervalued real estate appreciated portfolio securities and overfunded pension plans
it said it accepted an offer to sell foreclosed property and increased its loss reserve by 750000 dlrs in anticipation of the sale
standard and poors corp said it cut to b from b plus 900 mln dlrs of notes due 1994 of holiday inns inc a unit of holiday corp
finance minister kiichi miyazawa told a parliamentary session the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
in mid december 1986 bank of america sold via california cars grantor trust 1986 a 514 mln dlrs of certificates backed by automobile receivables through salomon brothers inc
trade sources in rio today said brazils future export policy was unlikely to be revealed before the end of next week
a possibility of renewed inflation remains of concern both in the markets and within the federal reserve he said in remarks prepared for delivery to a group of business leaders here
fcl originally launched a takeover bid for nzfp late last year with a scrip and or cash offer at 390 dlrs a share valuing the company at 13 billion dlrs
and each bank using its own model put the implicit volatility needed for its own issue at close to 25 pct
japans lipc to buy beef on april 23
if the latest french requests are accepted as expected this will bring the total of french maize exported in this context to 25500 tonnes
the partnership said its dealings in erc stock are for investment purposes and it has no intention of seeking control of the company
kg saur the german based publisher of databases and legal and bilbiographic reference material said it has sold all of its assets to the butterworth group a division of reed international plc reedl for under 15 mln dlrs
china trade deficit falls sharply reserves rise
this is clearly unacceptable for the monetary authorities and politicians in washington he said
1986 net both periods includes charge of about 458000 dlrs from severance obligations
the senior management of virginia federal was expected to continue in office after the conversion the companies said
rotterdam karachi 20000 21000 mt shredded scrap 7000 1100 15 30 4
according to the sec filing entertainment marketing and zinn bought their current holdings of 1560000 crazy eddie common shares between may 20 and june 17 at 742 dlrs to 793 dlrs a share or a total of about 119 mln dlrs
brazil announced on february 20 that it was suspending interest repayments on about 68 billion dlrs of private sector debt owed to commercial banks
the british banks are planning to fight the proposals as their implementation could prove extremely costly not just in terms of compliance but in limiting future business
it said imaging solutions formerly named exxon printing systems inc had been a reliance electric co subsidiary
rapitech systems inc rpsyo 3rd qtr loss
april 9 previous quote 7003 6987
computer associates ca starts bpi bpii bid
british banks resist signing mexico package
wheat sales to china of 60000 tonnes were switched from 1986 87 to the 1987 88 season it noted
so the emergence of us criticism damages nakasone even before the latest trade friction flared nakasone was encountering criticism not only from opposition parties but also within his own ldp over his proposal to levy a sales tax
a low index figure indicates a high value for the crown
thomas noted the rise in m0 had been kept in check despite buoyant retail sales in february advancing an adjusted 22 pct after a fall of the same size in january
measurex corp said it completed the sale of its measurex south africa pty subsidiary to a group of employees who manage the operation
nz current account deficit narrows in january
shr loss 20 cts vs profit 14 cts net loss 1417000 vs profit 933000 revs 5623000 vs 5403000 avg shrs 6957300 vs 7115248 six mths shr loss 18 cts vs profit 43 cts net loss 1269000 vs profit 3079000 revs 157 mln vs 142 mln avg shrs 7195720 vs 7115248
the number one deposits reserves are contained between a vertical depth of 750 and 1200 feet at a strike length of 900 feet
soviet and east german delegates did not attend the council session because of a conflicting international sugar organization meeting today but could arrive this afternoon delegates said
commerces ruling on monday will reset the duties on the basis of more detailed cost information industry officials said
also downgraded were the unit trinity industries leasing cos 60 mln dlrs of convertible debentures due 2006 to bb plus from bbb minus
security pacific provident national lift prime
he gave no financial details but said leisure sector investments would total about 100 mln francs over the next three years
travers
argentine maize soybean forecasts fall
a further release from the company will follow it said
we are implementing the agreement in good faith and the situation does not run counter to the pact osamu watanabe director of the ministry of international trade and industrys miti americas and oceanic division told foreign reporters
bank of japan governor satoshi sumita said that current exchange rates are almost within the levels agreed to by six major nations last month in paris
qtly div 7 1 2 cts vs 7 1 2 cts prior pay april 10 record march 27
it said the buyer has placed 250000 dlrs into an escrow account as a nonrefundable deposit
he is also a keen sportsman who likes to watch football and play golf
masco corp mas regular dividend set
no signal is being sent he said that the kitty hawk is operating in an area where it usually does
in the meantime however the market looks a bit oversold said jim wysoglad analyst at golden gate futures
shearson was subpoenaed for documents related to transactions with jefferies and co and others
mas said in its latest monthly statistical bulletin the december increase was largely due to seasonal year end demand
fruit of the loom offers debentures notes
he denied the action had been taken for that reason
final february retail sales figures will be published on april 6
at those talks baker apparently convinced goria who declined to attend the february meeting of the group of seven in paris that italy would participate fully in any meaningful decisions
iraq said its warplanes had attacked a supertanker and four iranian oil sites and vowed to keep up such raids until the gulf war ends
rose said however he could not really predict what heyman would do
but german authorities are likely to consider this much too complex and to base their evaluation instead on a schedule of lending ratings assigned according to the creditworthiness of the borrowers involved the sources said
federal funds which averaged 625 pct yesterday opened at 6 1 16 pct and moved in a narrow range between there and six pct in early trading
he said tropical fruit came from developing countries but faced non tariff barriers quantitative restrictions or very high duties in other nations
they said export licenses for about 500000 tonnes have been issued so far
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
but that estimation could go to a 180 dlrs easily due to purity supreme in new england comeau said
it said the bonds are available in book entry form only in increments of 10000 dlrs and 5000 dlrs thereafter
the coupon on the 100 mln dlr warrant bond for kansallis osake pankki k o p has been set at 4 5 8 pct compared with the indicated range of 4 1 8 to 4 5 8 pct lead manager morgan stanley international said
the shareholders of illinois cooperative futures co the futures trading arm of many midwest farm cooperatives for more than 25 years will vote wednesday on its possible dissolution
shr 34 cts vs 27 cts qtrly div six cts vs 45 cts prior net 6448000 vs 4969000 revs 511 mln vs 447 mln avg shrs 191 mln vs 187 mln note pay for dividend was march 11 to shareholders of record on feb 20
we have less corn and soybeans than we thought we had he said noting that hog and poultry production is up
the sources quoted poehl as saying that the current overshooting of the german monetary target would not directly respark inflation
silicon systems inc slcn 2nd qtr march 28
the bank of england said it had provided the money market with a further 437 mln stg assistance in the afternoon session
they said this meant the ex im bank would grant the credit as part of a package with money from the international monetary fund and private banks
general opinion among exporters was that brazil would plan to export between 17 and 18 mln bags this year of which between 15 and 20 mln would be to non members of the ico
the new interest rate applies to the second quarter
this economic integration is probably the most audacious challenge facing latin america this century perhaps the most audacious of our history he said
if the united states uses this as proof of dumping we will present our rebuttal he said
franklin california tax free income fund payout
sonesta international hotels corp snst 4th qtr
lomak petroleum inc lomko year loss
entertainment em may seek crazy eddie crzy 
singapore laws to liberalise local capital market
the us agriculture department reported the farmer owned reserve national five day average price through february 25 as follows dlrs bu sorghum cwt natl loan release call avge rate x level price price wheat 255 240 iv 465 v 465 vi 445 corn 135 192 iv 315 315 v 325 x 1986 rates
payment date is may 6
officials say the infant exchange has made a good start although trading in coffee has been disappointing
three and no
primage prim introduces new printer
ec executive commission president jacques delors told the meeting the authority would put forward proposals for a final phase of capital market liberalisation in october that would include safeguard clauses for member countries for which the move would create difficulties
the cuts were likely to attract more business to the market he said
china is moving to stabilise world prices of tungsten after fluctuating prices this year affected the countrys export earnings the china daily said
bank governor kombo moyana told the herald daily newspaper unfortunate and completely unfounded speculation that a depreciation of the zimbabwe dollar was about to occur had aggravated a serious foreign exchange shortage
qtly div five cts vs five cts pay april 30 record april 15
the officials said part of the debt would be paid in exports of goods such as textiles leather and furniture
an analyst who wanted anonymity said 40 dlrs a share is a decent price for outboard
the first a series carries warrants for four participation certificates
divers have been sent down to try to rescue passengers believed trapped in the ferry which was on its way from zeebrugge to the english port of dover and capsized just off the pier he added
ultra liberalism is impossible illusion or not the government has pushed its vision hard
but he denied than any adb loan arrears were more than 12 months behind schedule
analysts peg us cotton seedings 106 mln acres
theres something for everybody he said
officials at purolator could not immediately be reached for comment on the offer which was released several hours after the stock market had closed
with imports again large in september it estimated soviet soymeal stocks sharply up at 800000 tonnes by october 1 from around 130000 at the same time last year
the tanker disposals include japan orchid 231722 dwt japan lupinus 233641 dwt sovereign 233313 dwt rosebay 274531 dwt saffron 268038 dwt and cattleya 267807 dwt all of which have been reported on the london sale and purchase market they said but refused to give further details
the securities are convertible into shares of cbs at a price of 200 dlrs per share which represents a premium of 262 pct over the companys closing stock price yesterday of 15850 dlrs on the new york stock exchange
great atlantic and pacific tea co gap 4th qtr
american said pearson succeeds william lyon who has been elected to amrs board
a statement released by ost after a meeting of chancellor helmut kohl and senior government officials with the council said the experts believed 1987 ecomomic growth of 1 1 2 to two pct was achievable
the bank now controlled by brunei is seeking repayment of about 900 mln singapore dlrs in loans guaranteed by khoo
ivaco inc said price pressure on steel products particularly in the us and the recent increase in the value of the canadian dollar is expected to result in minimal first quarter earnings
southwest realty swl year loss
we are in the market for grains but it is up to the united states to be the seller to offer soviets competitive prices he said in an interview
sayad submitted a new package calling for a 90 day prices and a wage freeze but met opposition from sarney and funaro
the official denied trade reports that the government might have substituted a private deal with islamic corp for the original tender
thomas clark chairman
that pronouncement encouraged analyst david crossen of sanford c
theres been some heavy profit taking on sterling mark ahead of next tuesdays uk budget said james mcgroarty of discount corp
venezuela is lending ecuador five mln barrels of crude for refining in this country to meet domestic demand
charles grassley r iowa said yesterday that lyng had indicated he would consider giving those farmers the same two dlr bonus offered corn farmers who are signing up for the 1987 program this month
the volume of mark eurobond issues fell in the period march 16 to 31 to 900 mln marks from 137 billion in the period march 1 to 15 the bundesbank said
bankers said both benefited from trade finance and increased capital market operations
issues supported by a letter of credit from lead bank allied bank of texas and the banks certificates of deposits were reduced to bbb minus and a 3 from bbb and a 2 respectively
the dollar rose as high as 14750 yen
congress points to the record 169 billion dlrs us trade deficit in 1986 and the slow response in the trade imbalance to the dollars decline in world currency markets as a reason to press japan to buy more us goods
in a newspaper advertisement general partners said the offer and withdrawal rights expire april 14 unless extended
espinosa said the 32 km stretch of the link built on the ecuadorean side cost 105 mln dlrs
the company was commenting in a statement on its 1986 results which on a restated basis showed net attributable profits lower at 245 mln stg after 257 mln the previous year
purolators stock price closed at 35125 dlrs on friday
but he said investors looking ahead six to 12 months might want to buy at present levels for the tremendous fundamental values in the group
the uncertainty as to the price and conditions that might be imposed by the department of justice makes us very nervous about what the outcome might be kistler said in explaining why hughes had made the counter proposal
it was unclear whether the gao congress investigative arm would stick by its original analysis that it costs the government more to use certificates instead of cash in farm price and income support programs reagan administration sources said
a stockbroker said investors may be less enthusiastic now to buy convertible and non convertible debentures because the finance ministry has reduced the annual interest rate to 125 pct and 14 pct respectively from 135 and 15 pct respectively
for all of this it seems unlikely that bakers status in washington will diminish because of the market fall
prior year 4th qtr and year oper net also excludes 192 mln dlrs and 203 mln dlrs respectively for operating loss carryforwards and other reogranization items
revlon rev buys beechams comsmetics unit
may department stores co raises dividend to 28 1 2 cts from 26 cts a share
the company said it does not plan to offer common shares this year or in the foreseeable future but expects to raise about 40 mln dlrs in equity through the sale of stock under its dividend reinvestment plan and employee share plans
comdata said wcas and its affiliate investors would commit 50 mln dlrs to buy the securities comprising the new entities units of securities resulting from the merger in the same proportions and at the same price as the company shareholders
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
the agency said this flat trend is explained by the projected seasonal consumption decline in the second quarter of the year which offset a reduction in stocks
it was priced at par
the department said the additional guarantees increase the cumulative fiscal year 1987 program for sales of us agricultural products to algeria to 4660 mln dlrs
the company said in a statement that societe generale bankers trust chase investment bank and credit suisse first boston would place the paper
a new jersey investor joseph falkenstein told the securities and exchange commission he holds 52 pct of the shares of kinark corp
the debenture carries a three year term and is convertible from april 1 1987 to march 31 1989 at 135 dlrs a share and from april 1 1989 to march 30 1990 at 150 dlrs a share
the company proposed that he be appointed life president and that current chief executive john gunn should take over as chairman
ecuador squeezed by the slide in world oil prices in 1986 had only 138 mln dlrs in net international reserves at the end of january about equal to one months imports
venezuela and its bank advisory committee have agreed in principle on revisions to the terms of a 21 billion dlr debt rescheduling package signed last february bankers said
shr loss 15 cts vs loss 109 dlrs net loss 193 mln vs loss 1396 mln revs 6117 mln vs 8686 mln year shr profit 12 cts vs loss 131 dlrs net profit 161 mln vs loss 1679 mln revs 268 billion vs 335 billion avg shrs 1347 mln vs 1281 mln
the bma spokesman said the next tender for two mln dinars of 91 day bills will be held on april 14
brazil wants to resume interest payments on its medium and long term foreign debt as soon as possible and is willing to discuss ways of softening the impact of the payments suspension on bank earnings central bank governor francisco gros said
proceeds will be used for possible future acquisitions the repayment of outstanding debt and general corporate purposes
about 13 km of the new link capable of carrying some 50000 barrels per day bpd has been built he said
national australia bank ltd is issuing a 40 mln australian dlr eurobond due april 24 1990 paying 15 pct and priced at 101 3 8 pct lead manager orion royal bank ltd said
acquisitions will continue to be sought worldwide including further moves in the speciality retailing business which rowntree first entered in 1983 the statement said
sensormatic snsr ups checkrobot ckrb stake
communist party leader harilaos florakis said here the climate is calmer today greek newspapers reported that the greek army navy and air force had been moved to strategic greek islands in the aegean and to the land border with turkey at the evros river
the bonus was 137900 dlrs per head and was made to holstein friesian inc and will be paid in the form of commodities from the ccc inventory
john ashmun chairman of wainoco said as a result of this recapitalization wainoco will be in a strong financial position
the money was paid to ward via marketing and acquisition consultants ltd in jersey
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
dynascan corp said it completed the sale of its industrial electronic products group and expects to recognize about a 30 mln dlr pretax gain on the transaction in the fourth quarter
zimbabwes real gross domestic product increased 02 pct in 1986 according to preliminary figures published by the central statistical office cso this contrasts with a rise of more than nine pct in 1985
western agricultural experts in moscow said soviet planting intentions are likely to be unchanged
dnc international issues 10 billion yen bond
the row in the aegean erupted after turkey said it would search for oil round three greek islands off its coast following an announcement from greece that it planned to drill east of thassos island after taking control of a canadian led oil consortium operating in the northern aegean
american is the third largest us airline in terms of revenue passenger miles while aircal a relatively small carrier that primarily serves west coast cities is the nations 17th largest passenger carrier
the joint venture bank began operating in september 1985 but did not officially open until march 1986
a major loophole in the general agreement on tariffs and trade has been closed today a senior us official here commented
volcker also said he would prefer to further tighten the governments purse strings than have the fed tighten the credit supply if action was needed to fight inflationary pressures or to assure the continued flow of foreign capital into the united states
about 300 other creditor banks also are expected to approve the agreement he said
sheldahl inc said its directors approved a three for two stock split payable april 24 record april 3
united grain corp of oregon won two contracts for the supply of 110000 tonnes priced between 9244 and 9600 dlrs per tonne for september 1 15 and november 5 20 delivery
if crude oil stays below 20 dlrs a barrel and 150 dlr per mcf for natural gas prevails the prospects for onshore exploration at deeper depths in the texas gulf coast by independents in the 1990s are pretty dismal walter said
computer associates wang and uccels liemandt said at a news conference that the merger would give computer users a single source for a wide range of software products
turkish bank seeks 20 mln dlr loan
quantech also said bernard weinblatt has rsigned as president and a director and until a replacement is found ginsberg will act as chief executive and leonard n
the bank dealers said the central bank which had previously bought us dollars heavily sold at least 11 billion us dlrs in the past two weeks to meet commercial demand
this week he is also due to visit denmark and belgium
peter valli vice president of borg warner corp and president of its industrial products division will become president and chief executive officer of the new company according to clayton
this brought total indian purchases to at least six cargoes with traders having options to sell another four
india again in market for sugar trade
he predicted us oil demand would rise by about one pct annually in the next few years while the nation fails to replace its oil reserves through exploration
bush bsh revises 4th qtr year results up
ambassador financial afgi unit to buy builder
a total of 126031 tonnes of uk intervention feed wheat was sold to the home market at this weeks tender provisional results show the home grown cereals authority hgca said
judge to rule monday on burlington bur case
the failure of talks to introduce new coffee export quotas within the international coffee agreement ica was preferable to the alternative of brazil having a sharply reduced quota as had been proposed president of the rio de janeiro coffee trade association carlos calmon said
jamaican ambassador leslie wilson said acp countries are convinced this would lead to ec industry substituting products made within the bloc for oil and fat imports
traditionally notes or private placements as they were also known were medium term instruments denominated in 50000 francs and placed largely with institutional investors
terms were withheld but soo has estimated that the transaction will result in a one time after tax loss of 80 to 150 mln dlrs
qtly div 47 1 2 cts vs 47 1 2 cts prior pay may 13 record april six
multi media barter ltd said it expects to report a net loss of 820000 dlrs or 17 cts a share for the year ended december 31 compared to a loss of 553000 or 11 cts a share in the prior year
he also said coopervisions stock fell in 1986 due to its second quarter loss rumors of a liquidation at 30 dlrs and 35 dlrs a share and ivan boeskys subsequent sale of his position
without giving figures the report said last months rise partly linked to efforts to catch up with production lost earlier this year through industrial action was due mainly to a firming of domestic demand
genova gnva signs definitive merger agreement
manila is being more cautious and aims at soft borrowings which it is hoped will be outstripped by annual growth rates and eventually result in the country emerging from debt in five or six years philippine foreign debt is currently 278 billion dlrs
shr loss four cts vs loss 34 cts net loss 2922000 vs loss 199 mln revs 4071000 vs 8012000 year shr loss 23 cts vs loss 79 cts net loss 173 mln vs loss 462 mln revs 224 mln vs 286 mln
lynch lgl plans offer for becor bcw stock
the remainder of the refinery including the 19000 catalytic cracker was undamaged
stifel financial sf receives merger proposal
he ongpin wants to finish the negotiations as fast as possible
sterivet laboratories ltd said the board authorized a three for one split of its outstanding common shares subject shareholder approval at the annual meeting
prudential said its new real estate unit prudential real estate affiliates will be headed by jerome m
at the top of the list is the communitys common agricultural policy cap to washington as one official put it cap is the root of all evil in international food trade because it subsidises farmers and sells vast amounts of excess produce at below world prices thereby eating into us markets
the current 55 pct prime rate has been in effect since february 28
chuan hup holdings ltd said it has signed a 28 mln us dlr guaranteed floating rate note due 1990 with a group of banks to refinance the companys existing borrowings and to provide medium term funds
economists said the purchase was almost certainly related to the investment of proceeds from recent central bank intervention in the foreign exchanges
japans finance ministry auctioned 1000 billion yen worth of tankoku six month debt financing paper to roll over previously issued tankoku maturing on march 19 a spokesman said
the officials looking beneath the rhetoric of statements by the group of five g 5 industrial nations told the currency movements of the past two years are also creating a fundamentally new world trade picture which is throwing up new trade tensions and imbalances
a lot of companies have looked at fairchild and would be willing to buy it among the companies that would be interested in bidding for fairchild are advanced micro devices amd sunnyvale calif and lsi logic corp llsi milpitas calif industry analysts said
1987 results include production graphics corp and systems technology and weapons system test divisions of new technology inc acquired december 30 1986
the specific offer by transcanada is just in the course of being made and we dont have the details of all the elements of the proposal wilson told the house of commons daily question period
following the selloff in takeover stocks last week and the markets decline this week dayton hudson stock closed at 27 1 2 today off 2 1 2
we all hoped the manager would move into the market to buy up to 75000 tonnes in a fairly short period and then simply step back he added
roland international corp a coconut grove fla real estate development company said it cut its stake in intermagnetics general corp to 308400 shares or 48 pct of the total outstanding from 358400 shares or 56 pct
other deals have been fixed with prices linked to oman and dubai spot prices less a discount they said
the company said it will seek waivers to defer these interest payments and those due march 31 for enough time to enable the company to accomplish the proposed sale of its operations
merrill lynch and co inc is holding talks on acquiring canadian brokerage firms a company spokesman told 
house of fabrics inc hf 1st qtr net april 30
contract talks broke off in january and a conciliator has been appointed to try to help settle the dispute
as of dec 31 1986 nonperforming brazilian outstandings were about 41 mln dlrs it said
previous results reported from texas eastern corps tet petrolane inc domestic division
in the five year plan which starts this year south korea aims to reduce its dependency on japan as a source of imported goods and to increase imports from the us and europe
the company said the purchase is part of a plan to increase the range of retail electronic scales being offered by esselte in the us it said the acquisition will enble esselte to increase its distribution base in its effort to grow in the us
since then it has risen to around one mln bpd and is expected to reach about 15 mln bpd by 1995
last year westinghouse established a 790 mln dlrs restructuring reserve to be used for plant consolodation assett writedowns and other items
however payment will be made on account of the quarterly dividend on the exchangeable preferred shares by the companys trustee from a deposit account bc resources said
it said the remaining owners are privately held petroleum companies
idc services agrees to be acquired for 16 dlrs a share by apollo partners group
prices are now around 18 dlrs
the claims are located 80 miles northwest of fairbanks
he also said he will soon talk with corn refiners on the subject
cold wet weather slows beet growth in w
the recent stability would last until markets decided to test the resolve of central banks he said
corrects march 30 item to show holdings decreased
the proposed offering includes 150 mln dlrs of 30 year debentures and 150 mln dlrs of 10 year notes the company said
once policy is in place gros said financing talks with the banks are likely to be tough and protracted a sentiment echoed by the countrys creditors
house speaker jim wright said a gasoline tax is one option to finding a way to reduce the deficit but told reporters in response to a question he will not try to dictate a solution to the debt problem
a 300 mln mark 6 1 8 pct 1997 issue for nippon telegraph and telephone was also depressed but traded friday within fees at 9815 9850 from its par price
the remaining 200 billion yen will yield 39994 pct in a 39 day repurchase pact maturing on april 14 they said
american city business journals inc said it declared an initial dividend of 154 cts a share on its recent issue of 16 mln shares of convertible exchangeable preferred stock
winn enterprises knudsen foods inc said it entered an agreement to sell its hawaiian dairy operations to foremost foods inc for 13 mln dlrs cash
the february world supply figure is made up of 161 mln bpd opec crude production 14 mln bpd opec natural gas liquids ngls 166 mln bpd oecd crude and ngls 83 mln bpd other developing countries crude and ngls net trade of 11 mln bpd with centrally planned economies 05 mln bpd of non conventional crudes such as tar sands and oil from coal and 10 mln bpd from processiing gains
in its offer twa said as an alternative to a merger with usair it would be interested in discussing a three way combination among usair piedmont and twa
endotronics said it was providing documentation to the securities and exchange commission in connection with that agencys investigation
the spokesman said that natural float ranged from under 500 mln dlrs on friday for which he could give no reason to nearly one billion dlrs on both thursday and wednesday
shr loss two cts vs loss 12 cts net loss 192370 vs loss 1494146 revs 6751830 vs 2278842 note full name applied circuit technology inc
feds johnson says dollar is very close to appropriate exchange rate level
bank of france cuts seven day repurchase rate to eight pct from 8 1 4 pct official
ohio mattress omt may have lower 1st qtr net
financial performance corp said it continued its rapid expansion with a signing of a partnership agreement with gold sierra financial advisors founded by former bank of america officers in capital markets
this is the lmes first dollar contract and non european delivery point and the board and committee are looking at singapore as a delivery point for other contracts
saudi arabia wants to increase oil sales to japan
ashland oil inc said it expects to report a loss from operations in the second quarter
austn feb annual m3 money supply rises 112 pct
currently reagan can reject trade sanctions on any grounds
waxman waxm sells convertible debentures
company said common shares outstanding down significantly to 7814000 reflecting retirement of about 5200000 shares since start of restructurining in august 1986
hamburgische landesbank girozentrale is issuing a 50 mln canadian dollar issue due may 6 1990 carrying a coupon of 8 1 4 pct and priced at 101 3 8 said merrill lynch capital markets as lead manager
atlantic richfield aware of the rumors issued a statement around mid day that it was considering a sale of only 20 pct of the unit leading investors to take profits
asked what role the reagan administration had played in the final stages of the talks gonzalez said it had lent practical support he did not elaborate but bankers said the us had pressed for an agreement after economics minister juan sourrouille threatened at last weeks spring meeting in washington of the international monetary fund to break off talks unless banks stopped blocking a deal
prices in new york last week dropped to their lowest levels this year and almost three dollars below a three month high of 19 dollars a barrel
lucas industries issuing convertible eurobond
japan buys large amount of brazilian soybeans
six pct forecast prices will fall against four pct a month earlier
the nation would be lucky to produce over seven mln bags 630000 tonnes of maize this year he stated
the locals bargaining committees are expected to meet and prepare for the reopening of negotiations with cominco he said
end january stocks included 128 mln tonnes of butter 520000 tonnes of beef and over 10 mln tonnes of cereals
but diplomats said several member states led by west germany britain and france felt the forecast was too gloomy especially since it was drafted before a recent agreement between the leading western economic powers to stabilise currencies around current levels
dome petroleum ltd is under pressure from one of its largest creditors canadian imperial bank of commerce to sell its 42 pct stake in encor energy corp ltd energy industry analysts said
the latest argentine action marked the second time in less than two years its government has used a wage and price freeze to restrain inflation
eastern utilities associates 3rd qtr net
the operator of a major us crude oil pipeline shutdown because of flood damage said it may be several days before repairs are made and the system is functioning again
the last confirmed iraqi attack took place on march 8 when the iranian tanker khark 5 was hit south of kharg
jostens jos to sell unit to careercom crcm 
they also said the heating oil contract found additional support from a short covering rally on the close
so its preferable they negotiate now a move which would eliminate any chance of panic in the markets
baring unit sets up fund for management buy outs
stockholder systems ssiaa makes acquisition
the group led by mutual shares corp said it bought the stock for investment purposes
renouf sells 1083 pct nzi stake to brierley
consolidated group net profit 188 billion francs vs 129 billion
however they were unsure to what extent the loans would and could be changed
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
nondurable manufacturing eased to 852 pct of capacity use from 854 pct in january
in a filing with the securities and exchange commission the group led by investors lawrence altschul and james apostolakis said it cut its zondervan stake to 157500 shares or 38 pct of the total from 246500 shares or 59 pct
he told a news conference on 1986 results that branches in hamburg and schleswig holstein would be merged or closed a branch in frankfurt opened and that the bank was considering opening a branch in london
in its sec filing industrial equity pacific said its president of north american operations ronald langley met with calmat officials on october 14 to discuss an acquisition of the company at a premium over the market price of calmat stock
group to buy more intermedics itm shares
fuel oil prices were up 44 pct in february after increasing 98 pct in january but were still 15 pct below price levels of february 1986
the company is providing small to mid siezed key telephone systems to gte and key systems hybrids and data star pabx systems to the others
no question about it
the record date for the meeting will be april 16 with proxy materials to be sent to shareholders on or before april 20
the company said it also declared a two for one stock split of both stock issues which is subject to shareholder approval of an increase in the number of authorized class a shares
poland says us sanctions have cost its economy 15 billion dlrs and has made clear it wants washington to take a lead in repairing the damage after lifting remaining restrictions two weeks ago
wells fargo bank provided senior debt financing to bearing acquisition and donaldson lufkin and jenrette provided bridge financing in the form of subordinated notes preferred stock and common stock in an amount sufficient to fund the purchase price allied signal added
the effective rate for arms was 839 pct 15 basis points below a month earlier
cbots start of an evening session planned for the end of april will also multiply yen bond futures trading a nomura securities co ltd bond manager said
however earnings were satisfactory it said without giving absolute figures
halcyon said it might buy more stock or sell some or all of its current stake
1986 net includes reversal of 597000 dlrs of reserves no longer deemed necessary and tax credit 340000 dlrs
the bond is available in denominations of one mln yen and will be listed in luxembourg
mountain view acquires maratech communications
shr loss 155 dlrs vs loss 52 cts net loss 13191000 vs loss 2254000 revs 1179000 vs 2003000 avg shrs 8520000 vs 4330000 note current year loss includes 118 mln dlr writedown of oil and gas properties under full cost accounting method
s g warburg securities has organised commitments from a group of investors to subscribe for 65 mln stg in shares and 282 mln stg in subordinated convertible loan stock
sales 365 billion crowns vs 340 billion
brenco inc bren declares qtly dividend
barrett said it was natural that the market developed in switzerland
he said the tender would be the first step in acquiring all of caesars shares and if successful would be followed by a merger transaction
health rehabilitation hrp sets first payout
italian sowings are not yet complete but surveys suggest a drop from last years 270000 ha especially in the north where some farmers have switched to soya
a scheme to distribute surplus food free to the poor in the european community ec which was due to expire next tuesday will be partially extended for a further month an ec commission spokesman said
schleswig holstein lb issues australian dlr bond
henley late friday filed a 10 k report with the securities and exchange commission concerning the santa fe stake
linseed cake and expellers 146 145 pellets 124 123 and meal 114 113 all for shipments july onwards
in canada economic growth is expected to pick up slightly to around 275 pct in 1988 from 25 pct this year but will still be below levels seen in recent years
the group which disclosed plans on dec 29 to seek control of the company reserved the right to change its mind again
yesterday icahns transworld airlines inc twa made a 14 billion dlr offer for usair group
the conference was held against the background of the recent suspension of interest payments by brazil and ecuador but it was argentine finance secretary mario brodersohn who spelled out most clearly the social and economic strains caused by the need to service billions of dlrs of debt
oecfs chief representative takashi matsuya told reporters the japanese government is appraising the loan
affirmed were the companys bbb minus senior debt bb plus subordinated debt and a 3 commercial paper
herrington did not specifically confirm a report in todays washington post that he had written to president reagan urging an increase in the oil depletion allowance
japans broadly defined money supply average of m 2 plus certificate of deposits cds rose a preliminary 88 pct in february from a year earlier compared with an 86 pct rise in january the bank of japan said
analysts believe this probably is about where the fed wants the funds rate to be
3 if the buffer stock reaches 400000 tonnes the price at which the additional contingency stock of 150000 tonnes is brought into operation will be two malaysian singapore cents above the floor price or 152 cents
monetary and fiscal policy appear to be the key factors behind the avoidance of recession the report said
but johnson warned against reliance on inflow of foreign capital to finance investment and the budget deficit and keep interest rates stable
yellow freight yell sees lower 1st qtr net
at the centre of the new trade tension is an ec commission proposal to tax vegetable oils the sources said
owens corning fiberglas ocf sells foam unit
ames said it expects to report earnings of between 72 and 77 cts per share compared with 119 dlrs per share in the previous year
investcorp set up in 1982 specialises in buying companies and property in industrialised nations
march 31 end shr 65 cts vs 51 cts net 1016738 vs 526057 avg shrs 1561774 vs 1035162 1st half shr 131 dlrs vs 109 dlrs net 2050911 vs 1130462 avg shrs 1561643 vs 1035162
however dub said the bank of america securities were more closely related to the so called cars deals that raced to market last year than were the republicbank securities
shr loss 222 dlrs vs profit 16 cts net loss 102 mln vs profit 760443 revs 11 mln vs 37 mln year shr loss 368 dlrs vs profit 64 cts net loss 169 mln vs profit 27 mln revs 36 mln vs 152 mln note1986 4th qtr includes 67 mln dlr restructuring charge and writedowns of 280000 dlrs
avia said it had not seen the court papers and said it had no comment on the suit
sumita said the bank of japan will continue to pursue adequate and flexible monetary policies while watching economic and financial developments in and outside japan
shr 59 cts vs 46 cts net 24 mln vs 19 mln revs 1225 mln vs 1059 mln six months shr 113 dlrs vs 84 cts net 45 mln vs 34 mln revs 2425 mln vs 2101 mln note 1986 share adjusted for 2 for 1 stock split
they saw the climate for equipment investment improving but predicted only a rise of four pct in 1987 against 46 pct in 1986
paper will be issued by nec industries netherlands bv under the guarantee of nec corp
advanced said it had suspended merger talks with other parties as a result of the exclusivity agreement
us retail sales rose 41 pct in feb non auto sales rose 15 pct
oper shr 64 cts vs 97 cts oper net 845000 vs 1285000 revs 200 mln vs 23 mln note 1986 and 1985 oper net excludes gain of 315000 dlrs and 585000 dlrs respectively for extraordinary item
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
raising us trade barriers would result in little or no reduction in the current account deficit
the group is the latest to announce a tax free bonus issue ahead of dividend imputation effective july 1
the volume is 27 pct higher over 1986 sales which totalled 36 mln cubic meters or 226 mln barrels
japan yesterday in an effort to ward off us action ordered a cutback in semiconductors production as a way to force prices up and end the dumping
both schlumberger and fujitsu are foreigned owned companies
year ago net includes pretax charges related to judgment against company in litigation with hughes tool co of 1891 mln for qtr and 2169 mln dlrs for 12 mths
there is clearly a danger that adequate financing arrangements are not being negotiated and put in place in a timely way volcker told the senate banking committee
the asset backed market which began in march 1985 totals an estimated 119 billion dlrs
the hongkong and shanghai banking corp hkbhhk is likely to show a rise in profit of between 10 and 13 pct for 1986 reflecting stronger than expected loan growth share analysts polled by said
in terms of clearing our business as a unit as opposed to individuals there would be economic savings he said but added the times change and with changing times come different opinions of what businesses ought to be around cavanaugh said the possible demise of the futures arm had nothing to do with its profitability
terms were undisclosed
the barley is for shipment may 5 20 and the bonus of 3932 dlrs per tonne was made to harvest states cooperatives the department said
the al rai al aam newspaper quoted him as saying opec was pumping 24 mln barrels per day bpd less than its 158 mln bpd ceiling while consumers were drawing down their petroleum stocks at a rate of 45 mln bpd
national said it entered into a new agreement with signature which would have owned about 80 pct of nationals common under the prior pact
as part of the restructuring goodyear executed a major stock buyback program that resulted in an increase in its debt
1985 also excludes extraordinary gain equal to 34 cts shr
the soviet union the worlds largest grain importer has bought no us wheat for more than a year complaining the price was far above world market levels
the issue is available in denominations of one mln yen and will be listed in luxembourg
the loan will benefit nepal by increasing foodgrain output augmenting production of milk and other dairy products and expanding energy generation in rural areas it said
the bundesbank accepted bids for 61 billion marks at todays tender for a 28 day securities repurchase pact at a fixed rate of 380 pct a central bank spokesman said
citing a study released yesterday by the department of energy many said the falling production of domestic oil coupled with increasing us demand was leading to a growing dependency on imports particularly from the politically volatile middle east
c and w wants to start right away on the project such as application and other procedures said watanabe who is also chairman of tokio marine and fire insurance inc the japanese side is saying that the decision on such a plan should be left with the new firm after the merger
credit lyonnais unit has australian dollar bond
the company named kidder peabody and co inc as lead underwriter of the offering
but in the early 1980s interest rates soared
it cant go on like this he added
trus joist tjco to acquire canadian firm
imperial chemical industries plc the largest chemical company in the united kingdom will expand its specialty chemicals and drug businesses this year and better its 1986 results said chairman elect denys henderson
pending approval currently is the purchase of rainier bancorporation rban with assets of 92 billion dlrs
ncr corp plans additional new product announcements this year it said without elaborating
the report said all wheat farmers contacted during the field trip were optimistic about the crop and the way it emerged from winter
arvin industries arv to sell 150 mln dlrs debt
solid materials processing which makes equipment to crush stones for highway construction accounted for 288 mln dlrs of allis chalmerss total 1985 revenues of 886 mln dlrs
this is a breakthrough for bolidens sales of mining technology and knowhow said the groups chief executive kjell nilsson
its recommendations are designed as a follow up to maekawas report last year on economic restructuring and are likely to cover such potentially politically explosive areas as agricultural reform and land policy officials said
n american communications nacso weighs sale
in reporting that first half results declined from 650 mln dlrs minorco said the contributions from its 50 pct investment in december 1985 in adobe resources corp was negative as a result of low oil and gas prices
all partners had agreed that the dollar was at about the right level and that further changes would damage growth he said
the report said an import fee would raise prices and help make it economical for us oil firms to find and produce new oil as well as to cut imports but on the whole the tax would depress the nations economy
last year us farmers obtained record corn yields averaging 1193 bushels per acre
qtly div 20 cts vs 20 cts previously pay april 15 record march 23
volcker warned a further dollar fall might force the politically independent fed to drive up interest rates
having a market at our disposal which is as homogeneous and accessible as that of europe is an incredible piece of luck he told le figaro in an interview
a premium charge of 1440 dlrs per contract per day would be assessed under the proposal
shr two cts vs na net 68281 revs 639471 note company became public in march 1987
feb sterling bank lending up 29 billion stg after 175 rise in jan official
the indonesian state owned oil company pertamina has found new offshore oil and gas resources in east aceh on the western tip of northern sumatra a company spokesman said
the scale of the problem is immense
paydate is april 24 and fees comprise one pct selling concession and 1 2 pct management and underwriting combined
hj heinz co is within sight of our 22nd consecutive year of new records in financial growth for the fiscal year ending april 30 chairman and chief executive officer anthony oreilly told investment analysts
teikoku kako co ltd is launching 40 mln swiss francs of five year notes with warrants with a 1 1 2 pct indicated coupon lead manager credit suisse said
no dividend was recommended
idea reported earnings of four cts per share for the quarter ended october 31 1986
oper shr profit one cts vs loss 22 cts oper net profit 35000 vs loss 948000 revs 174 mln vs 138 mln six mths oper shr loss 23 cts vs loss 48 cts oper net loss 1025000 vs loss 2093000 revs 325 mln vs 276 mln note results exclude credits of 1737000 or 39 cts shr for both 1987 periods from refinancing of debt
kern again decided against disclosing the talks in an amended sec filing the agency charged
it said revenues for the period were about 119 mln dlrs about even with those of a year earlier
allegheny beverage corp said it has been approached by a group interested in acquiring its foodservice unit service america corp
koizumi said the ldp plan will not specify the size of the tax cut or the amount of domestic demand to be stimulated
those changes are intended to make the reference price more responsive to market trends
it said recommendations sent to the white house by energy secretary john harrington include financial incentives to raise domestic oil production by one mln barrels a day from the current 84 mln barrels
citibank the chairman of argentinas bank advisory committee said yesterday that subscriptions totalled about 91 pct
miyazawa sees big nations reaffirming paris pact
s and p noted that bank of america a unit of bankamerica corp bac and republicbank corps rpt republicbank delaware unit issued credit card backed debt and also realized lower funding costs while mitigating increased funding and liquidity risks resulting from weak financial performance
metex corp mtx 4th qtr dec 28
union and new south wales government officials have reached a compromise in a dispute over workers compensation averting increased industrial action in the state union sources said
the us senate finance committee approved nonbinding resolutions urging the reagan administration oppose canadas ruling on us corn imports and a proposed new european community tax on vegetable oils
the fed had previously offered to buy all coupon issues on march 31
absorption of empty office buildings in houston which has a current vacancy rate of about 30 pct will be a gradual process that could take up to four years he said
schering said natures blend agreed to stop making and selling food supplement products under the fiber slim trademark but it did not admit liability
coffee deliveries to the state run coffee board of kenya rose 17 pct and tea deliveries rose four pct during the period he said
uk average earnings rose a seasonally adjusted 65 pct in the year to end april after increasing by 67 pct annually in march the employment department said
the non callable bond is available in denominations of one mln yen and is guaranteed by france
in a filing with the securities and exchange commission wedge which is owned by issam fares a lebanese citizen living in switzerland also said it discussed the possibility of joining with others in its own bid to seek control of ami
this is the fourth such conference in nearly two years
uk chancellor of the exchequer nigel lawson said the meeting of six major industrial nations in paris last month agreed not to publish any bands in connection with their pact to stabilise currencies
the february 22 louvre accord called for efforts to stabilize currencies at then current exchange rates
what investors are actually saying by selling off some bfi shares is the cloud over this industry is the threat that the epa will get tough on waste management companies willard brown senior analyst for first albany corp
frances cff to issue 500 mln francs bonds
an official at the ministry of post and telecommunications told the ministrys position is unchanged despite mounting pressure from london and washington
london exchange declines comment on merrill case
for now the strategy appears to be working
the securities to be redeemed would be the three pct perpetual rente five pct perpetual rente four pct 1941 1960 redeemable rentes 35 pct 1942 1952 redeemable rentes three pct 1942 1955 redeemable rentes three pct 1945 1954 redeemable rentes and 45 pct 1933 1960 redeemable treasury bonds
in manufacturing industries employment in the textile industry fell 180000 to 194 mln in february while in ordinary and precision machinery industries it fell 160000 to 150 mln
cyclops cyl merger approved
here injury to subsistence resources from exploration was not at all probable justice byron white wrote for the court
this is the first time in many years that a factory has been closed in mid campaign the spokesman added
it added temporary reserves indirectly on monday via two billion dlrs of customer repurchase agreements and then supplied reserves directly via system repurchases on tuesday and wednesday
profit on sale of fixed assets 23 mln guilders vs 62 mln
on friday cyacq corp an investor group led by audio video affiliates and citicorp raised their offer for cyclops to 9250 dlrs per share from 80 dlrs per share if certain conditions were satisfied
qtly div 25 cts vs 25 cts prior qtr payable 10 june record 15 may
commodity exchange comex copper stocks climbed to 103000 tons in january from 93300 tons in december
this led for instance to the introduction of a tighter monetary stance from the beginning of december until the half point cut in rates in late january
the analysts noted that the third quarter is normally bhps lowest earning period owing to a number of seasonal factors and they predicted a sharp rise in fourth quarter net to around 300 mln dlrs
aker verdal has been awarded a contract for the engineering purchasing and construction of the steel jacket for the wellhead platform also to be completed in 1989 statoil said
jones and vining said a management effort to take the company private will go ahead at 450 dlrs per share
the two papers gave no more details
earlier this week some 65000 dockworkers cancelled a scheduled national strike to pressure port officials to give them a wage increase and other benefits
in manila item philippine telephone firm plans stock split please read in page 3 first para the companys profits are likely to be substantially cut inserting dropped word this replaces the companys profits are likely to be substantial
however on the interest rate front economists caution that lawson might be wary of leaving sterling vulnerable by encouraging another base rate fall
national business loan data are scheduled to be released on friday
first city said chargeoffs and paydowns reduced its total energy loan portfolio by 32 pct during 1986 to 14 billion dlrs at year end adding that future energy chargeoffs should be more modest the amount represented 15 pct of first citys total loans
the arab monetary fund is to lend iraq 717 mln dlrs to help to finance its trade with other arab countries the united arab emirates news agency wam said
value was not disclosed
latest consumer price data indicate us inflation will be moderate in 1987 even though it will be above last years pace economists said
cityfed ctyf to sell consumer lending offices
international transactions of non banks again led to a significant inflow of funds the bundesbank said
baruch foster corp bfo 4th qtr loss
the european currencies are moving back up against the yen
baker said it has not obtained any satisfactory explanation from hughes of its objections to the provisions of the justice department consent decree
some traders believe the main quality problem is with harvesting and fermentation techniques
tricentrol to concentrate on proven reserves
but they expected that many investments had not been cancelled but only put off
dutch plantings are expected to fall to 130000 ha from a record 137600 in 1986 as a new self imposed quota system comes into force a spokesman for centrale suiker the second largest dutch sugar processor said
the united states defended its sales of stockpiled tin in 1986 in reaction to criticism from malaysian miners who have said it violated an agreement with southeast asian producers
there will be a 250 dlr monthly minimum use charge
gaf gaf to purchase up to 21 pct of stock
parsow partnership ltd an elkhorn neb investment partnership said it bought a 51 pct stake in orange co inc common stock as an investment
idb approves trade project loans to members
the production forecast was reduced to between three and 33 mln tonnes against 32 to 35 mln tonnes last week 214 to 268 pct down on last seasons 41 to 42 mln tonnes
us demand continued for all models but demand fell in other markets
a senior official of drexel burnham lambert inc and his father told the securities and exchange commission they have acquired 258591 shares of epsilon data management inc or 94 pct of the total outstanding
the company said negotiations to restructure its debt and allow for continued operations are proceeding
ridal said the new program will complement a note issuance facility the company arranged last year and also increase the investor base
the bankers noted that if the financing had been arranged in italy the cost to mexico and the italian banks would have been higher since the italian banks would use a different source of funding
total supply includes imports but not broken kernels
if they do come into the market at this level it will go lower and you could breach a dollar ninety or eighty cents he said
kern river crude at 13 degrees was increased 100 dlr to 1300 dlrs bbl
ec commission has open attitude on steel quotas
home savings bank said its board declared an initial quarterly dividend of nine cts per share payable april 30 record april six
the obvious lack of coordination between the bundesbank and finance ministry does not instil confidence in foreign investors said one economist for a london broker who asked not to be identified
st
tonen sekiyu and exxon unit studying resin project
estimated french barley stocks worrying onic
rep
mobil oil singapore pte lte will raise pump prices of petrol from june 2 a spokeswoman said
our customers are all seen as being in trouble due to a lack of foreign currency iida said
evergo officials were not immediately available for comment
as usual the bank did not detail total operating profits
comdata network agrees to higher offer from welsh carson anderson
cons gold said last month that its arc america corp unit had agreed to buy the ohio based company for 30625 dlrs a share cash or 242 mln dlrs in a deal recommended by the aggregates board
the pipeline transmits roughly two thirds sour crude and one third sweet crude oil from the midland texas region
wolf inc hbw 3rd qtr feb 28 net
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 
but several believe that rates will now consolidate before edging up in late spring early summer
neither seemed that concerned about the bottom line said bradley
this compares with the opening of 40900 50 and new yorks close of 41000 50
dune resources dnlaf reserves rose in 1986
no further meeting to discuss quotas was set delegates said
the government faced with mounting social unrest against its economic policies has called the miners strike and fasts part of a campaign aimed at discrediting it during the visit of west german president richard von weizsaecker who began a four day visit last friday
reagan said he imposed the sanctions on certain computers television sets and some hand tools because japan did not honor an agreement to end dumping semiconductors in world markets at less than cost and to open its markets to us products
a french finance ministry statement issued the same time as the paris club statement said france had formally agreed with gabon to reschedule bilateral unpaid debt amounting to about 440 mln francs
the agreement limits it to trading physical cocoa and expressly says it cannot operate on futures markets
terms were undisclosed
the well initially tested at a maximum daily flow rate of two mln cubic feet of gas and 304 barrels of condensate
reporting members of the national soybean processors association nspa crushed 21782929 bushels of soybeans in the week ended feb 25 compared with 22345718 bushels in the previous week and 16568000 in the year ago week the association said
british land issues 30 mln stg convertible bond
ecuador was forced to suspend exports after the pipeline connecting its jungle oil fields with the pacific ocean port of balao was damaged last week by an earthquake
negotiations between the union and employers which are due to resume early next week are currently stalemated with the union refusing to accept sweeping changes in working hours and practices in return for a 15 pct pay increase
the national bank of new zealand ltd 
the paper also printed a table showing that since bilateral trade began in 1972 china has had a deficit every year except 1972 and 1977
the canadian dollar has not been rising like the pound but sloane and other analysts cautiously predicted a big move soon
st
analysts say if the banks do not intervene effectively the paris accord could collapse
fleet owns first connecticut bancorp
quarto produced about 36 mln short tons of the 243 mln tons produced by north american coal in 1986 nacco said
a house banking subcommittee approved a bill authorizing us contributions to the international development association the asian development fund and the afrian development bank
it also operates a fully integrated poultry business and a rendering business markets livestock and poultry feed and distributes grain through a network of country and terminal elevators
the company said us lines will maintain its weekly service from the us west coast to hawaii and guam until the vessels are transferred and the transaction is completed
the fall was largely due to a 60 mln franc loss on swissairs core flying business last year against a profit of 27 mln francs the previous year he said
securities houses also plan to introduce free competition among underwriters when negotiating with issuers over terms in order to better reflect the market securities managers said
both loans are for 15 years including three years of grace with a variable interest rate currently 792 per cent which is linked to the banks cost of borrowing funds
the northern new south wales regional group is emerging as a national media force in the wake of the industry restructuring sparked by the news corp ltd ncpas takeover of the herald and weekly times ltd hwtas group
the icos executive board session here this week has so far barely touched on the quota debate demonstrating general unwillingness to revive talks while chances of success are still remote producer delegates said
asked by if he was confident the plan eventually would be defeated amstutz said yes i am but i also know that things like this take constant vigilance the usda official said the ec council of ministers held an ad hoc meeting yesterday
it said entrepo has assets of 20 mln dlrs
todd shipyards tod struck on west coast
health mor inc hmi sets dividend
the average sales price for gas dropped by 60 cents per mcf to 216 dlrs per mcf pennzoil said
the attorneys who asked not to be identified said the sec was investigating whether sugarman and other firms with tre holdings were working together without disclosing their cooperation as would be required by the federal securities laws
fleet shares closed today at 59 1 2 up 1 8 giving the deal an indicated value of 13 billion dlrs
parent company net profit 128 mln swiss francs vs 75 mln
he said the rural sectors in guangdong and fujian were wel developed enabling farmers to choose crops according to the maximum return meaning that many had avoided sugar
comments are due by april 24 and a report to congress is required by law by may 10
there is also talk of the announcement this week of new measures to adjust the brazilian economy and the ibc could be awaiting clarification before making any move the exporters said
ortner said he would like to see the law changed to eliminate the 48 hour delay in reporting the two figures
the recent deterioration in the steel market makes it important for arbed sa arbbbr to maintain efforts to reduce costs the company said in a statement
he said the second inra would allow for an orderly disposal of the accumulated buffer stock of 375000 tonnes since the market is now capable of absorbing such releases
arvin industries sees flat 1st qtr per share net compared with 59 cts last year
wall street stocks american express axp 
shr 1458p vs 786p div 65p making 975p an increase of 194 pct pretax profit 832 mln stg vs 315 mln net after tax 686 mln stg vs 377 mln pretax profit 832 mln stg vs 315 mln consists of long term business 459 mln stg vs 438 mln us long term business 62 mln vs 89 mln fund management 47 mln vs 65 mln short term business 47 mln vs loss 290 mln associate companies 09 mln vs 08 mln shareholders other income and outgoings 04 mln debit vs 05 mln credit exceptional long term business profit 214 mln vs nil
banner industries inc said it completed the previously announced purchase of rexnord inc rex it said it owns 96 pct of rexnords outstanding following the purchase of all rexnords common validly tendered pursuant to its 2625 dlr per share cash tender offer ended february 27
however he expected turnover for the year to be approximately unchanged from the previous years 514 billion marks when current orders from major projects are booked
both saudi american owned 40 pct by citicorps ccin citibank na and saudi french 40 pct owned by banque indosuez increased provisions sharply
treasurys baker says floating exchange rate system needs greater stability
chrysler c overseas unit redeeming debentures
goodyear also paid him 37 mln dlrs for expenses and bought about 41 mln other shares for over two billion dlrs
it was indicated at 47 to 54
the japanese government appears to have little new to offer to settle a dispute with the us over computer chips trade analysts and government officials said
transatlantic row imperils louvre accord dealers
australian sugar areas said receiving some rain
however that number is substantially lower than growth last year a company spokesman said
loans and leases increased 34 pct to 195 billion dlrs and deposits grew 14 pct to 196 billion dlrs
benefits to the united states would be fewer than those to canada proportionately he said because of the already large us gross national product
last year snc earned 87 mln dlrs including a small extraordinary gain
but government officials said political infighting could rob both packages of much of their punch and might even prevent one from seeing the light of day
oesterreichische kontrollbank ag is raising 150 mln marks through a private placement for five years with a 5 1 2 pct coupon and priced at 100 1 4 pct lead manager deutsche girozentrale deutsche kommunalbank said
a nippon steel spokesman told that china has made no such official request and the company was not considering such sales at the moment
cohn said the bank stocks may be risky until numbers on non performing loans are reported for each bank
west german net currency reserves rose by 200 mln marks in the fourth week of march to 822 billion following a rise of 300 mln marks in the previous week the bundesbank said
last week borrowings totalled 1775 billion marks including a 300 mln mark private placement for deutsche bank
ny bank discount borrowings 169 mln dlrs
gateway communications inc gway 1st qtr net
oil traders in the new york area said exxon corps exxon usa increased the price it charges contract barge customers for heating oil in new york harbor by 15 cts a gallon effective saturday march 7
the program was arranged by kleinwort benson ltd which will act as a dealer along with morgan grenfell and co ltd and swiss bank corp international ltd
aristech said the polypropylene expansion involves a major modernization of its neal w
a 133 pct jump in non interest expense to 4713 mln dlrs from 4159 mln also hit the bottom line
baker said that for its part japan announced a cut in its discount rate to 25 pct and committed itself to prepare a comprehensive economic program to stimulate domestic demand after the diet completes action on the current budget
us dlrs
concord computing corp said thomas e
florida citrus processors association said frozen concentrated orange juice movement into trade channels in the week ended april 4 totalled 4496533 gallons versus 5058976 gallons in the week ended march 28 and 4141578 gallons in the corresponding year ago period
evans told the conference the government did not plan to accept industry pleas for changes in the legislation to allow deductibility of unsuccessful exploration expenditure
lawson tells panel he wants sterling to stay around 160 dlrs 290 marks
the bond will be listed in luxembourg and is available in denominations of 1000 dlrs
but they mostly agreed that saudi arabia will unofficially act as swing producer cutting production to compensate for higher output by other members or boosting output if spot prices rise too high too fast
one thing you can adjust is to make each contract a larger value as chairman of the cme in 1969 71 melamed was instrumental in the development of currency futures which now are crucial to the chicago exchange
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
silas told that the asset sales which amount to about two billion dlrs for 1986 were completed and that none were planned
houston oil royalty trust rth payout lower
in making the annoucement reagan said i am committed to the full enforcement of our trade agreements designed to provide american industry with free and fair trade trade analysts said his move was aimed as much at japans semiconductor trade practices which are said to have injured the us semiconductor industry as congress which has complained about presidential timidity on trade issues
argentina is aiming at four pct growth in 1987 and has said this target is not negotiable
the senate voted unanimously to seek an expedited us probe of canadian tariffs on corn imports to determine if the united states should retaliate
herbal medicine and textiles were among chinas chief exports to taiwan
profits from paper and pulp grew 29 pct to 217 mln stg nearly three times the 1982 level with wiggins teapes sales rising 36 pct to pass one billion stg
keycorp said the amount of its stock to be exchanged will be based on the daily average closing price of the shares for an unspecified period prior to the closing of the acquisition
the department noted the sales are the first reported for delivery during the fifth year of the agreement which began october 1 1987
net 1137000 vs 1185000 nine mths shr 217 dlrs vs 203 dlrs net 3645000 vs 3384000 assets 3744 mln vs 3554 mln note per shr data in qtr not disclosed
british silver goods assayed totalled 698132 an increase of 62 pct but only 78457 foreign items were marked a fall of 111 pct
net loss 1321000 vs loss 1397000 sales 311 mln vs 292 mln 1st half net loss 94000 vs loss 1745000 sales 630 mln vs 619 mln note company recently went private
its key discount rate at three pct is just above historical lows
the new price for west texas intermediate is 1900 dlrs a barrel
the fed is not likely to ease policy much further without a full blown recession said raymond stone chief financial economist at merrill lynch capital markets
tender loving care said it agreed to buy the 610000 staff builders common held by norrell about 191 pct of those outstanding for 6950000 dlrs immediately prior to the consummation of the merger
proceeds from the financing will be used for equipment procurement and construction of an 80 megawatt power plant by its china lake joint venture the company said
delors calls for g 7 meeting
the notes will be redeemed at 1015 pct of their principal amount plus accrued interest through the redemption date
dealers said the worsening trade relations between the us and japan will continue to depress the dollar
credit volume 4200 billion marks vs 4315 billion
ferro said although the airframe and aerospace industries are the prime users of composite materials today it plans to develop applications for the ground transportation and industrial markets in the near future
at least four of the 41 mills were not working during the 1986 87 season he said
us military planners ruled out irans silkworm missiles as a target in the retaliatory attack mounted on monday for fear of being drawn more deeply into the iran iraq war defense and middle east experts said
shr 22 cts vs 13 cts net 1063000 vs 639000 sales 7489000 vs 4656000 year shr 55 cts vs 28 cts net 2633000 vs 1343000 sales 233 mln vs 179 mln
most retailers report their first quarter in the middle of may
pillsbury said it expects the interests to be sold to public investors and listed for trading on the new york stock exchange
the bond with a yield at issue of 643 pct will pay annual interest on april 29
the japanese electronics industry is too powerful to be stopped altogether but recovery for the industry will be delayed for another year he said
in a filing with the securities and exchange commission compagnie generale said it bought its 139200 california water shares for a total of 70 mln dlrs for investment purposes
senate agriculture committee chairman patrick leahy d vt slammed the proposed eligibility changes telling fmha administrator vance clark at a hearing that they would mark a dramatic shift in the agencys purpose away from being farmers lender of last resort toward becoming a big city bank but clark defended the new regulations saying the agency had a responsibility to administer its 70 billion dlr loan portfolio in a compassionate yet judicious manner crowley of gao congress investigative arm said the proposed credit scoring system attempted to ensure that fmha would make loans only to borrowers who had a reasonable change of repaying their debt
partly offseting these outflows a fall in note circulation and exchequer transactions will add some 355 and 55 mln stg to the system respectively
upjohn currently carries aa 3 senior unsecured long term debt and industrial revenue bonds
halcyon which said it has spent 201 mln dlrs for its purolator common shares said it also acquired options on feb 27 giving it the right to buy 50000 shares for 18 mln dlrs
average production costs for crude oil and natural gas declined nearly 30 pct to 341 dlrs per bbl of oil equivalent in 1986 from 481 dlrs in 1985 unocal said
the issue settles on april 27 with no accrued interest
qtly div 28 cts vs 28 cts prior pay april 20 record march 31
us exporters report 200000 tonnes corn switched from unknown to ussr for 1986 87
additional untested but possibly productive zones exist behind the pipe it added
frontier insurance group inc said it acquired the malpractice book of business generated by medical quadrangle inc and medical professional liability agency ltd a producer of medical malpractice coverage
pct senior subordinated note due 1997 together with warrants to buy 11 mln shares of common stock
the bay area council a group of more than 300 business firms said that a study of corporate restructuring in a nine county area found that san francisco itself had suffered some ill effects from corporate shake ups but that surrounding communities had not
alex
shr loss 39 cts vs profit 19 cts net loss 433424 vs profit 216117 revs 6469001 vs 8221549
the encor shares do not pay dividends
shr 31 cts vs 53 cts net 42 mln vs 71 mln revs 161 mln vs 272 mln
for the barley rebates of between 138 and 14125 european currency units ecus per tonne were sought for maize they were between 12965 and 139 ecus for bread making wheat around 145 ecus and for feed wheat around 14245 ecus
in its world production and trade report the department said in the past seven weeks reported us corn sales of nearly three mln tonnes to japan are about three times the level during this period last year
c i l acquiring trimacs stake in tricil
however certain exporters fear china may renounce part of its contract with france after being offered one mln tonnes of us soft wheat under the export enhancement program in january and making some purchases under the initiative
nz trade surplus 1191 mln dlrs in february
sallie mae a federally chartered stockholder owned corporation is the nations major financial intermediary serving the education credit market
ecuador was pumping about 260000 bpd before the earthquake
reynolds metals rlm sells convertible debt
analyst paul spedding of brokers kleinwort grieveson noted that any effect on the government sale of its stake in bp would depend on the reaction of the markets
indeed futures traders with cash bond connections said some of the late strength in the bond market resulted from buying by japanese interests
the board of the holding company will have an equal number of directors from each institution
krieger said the major stumbling block in the talks with nbc was the networks insistence on having the right to hire engineers and writers on a daily basis
international proteins corp said it replaced its existing credit line with a new 10 mln dlr facility consisting of a three mln dlr term loan and a revolving credit line provided by citicorp cci the company said the new credit line significantly improves the companys working capital position and provides the company with additional funds to finance growth of its domestic operations
shr 51 cts vs 36 cts net 5600000 vs 4000000 revs 1154 mln vs 912 mln nine mths shr 113 dlrs vs 61 cts net 107 mln vs 5800000 revs 3082 mln vs 2495 mlln note 1986 resutls restated on pro forma basis to reflect comparable treatment of budgets leveraged buyout on september 30 1986 and initial common stock offering on may 22 1987
net profit 3271 mln guilders vs 3075 total revenue 797 billion guilders vs 87 billion
uk oil revenue forecast to fall in 1987 88
japan says it trying to expand domestic demand
it said proceeds will be used for acquisitions
a small amount of french barley has already been put into intervention vieux said without detailing the amount
shr loss 11 cts vs loss 48 cts net loss 254000 vs loss 784000 revs 941 mln vs 473 mln avg shrs 2317000 vs 1642000 note share adjusted for stock dividend and reverse split
many local bankers argue the only effective solution to the currency problem is to drop foreign exchange controls and allow the local dollar to find its own level
control resource industries inc crix 4th qtr
central bank special drawing right holdings were 316 billion crowns compared with 306 billion in april and 251 billion in may 1986
he declined to elaborate
the company also said 5800000 dlrs of its convertible subordinated notes due 1997 have been converted into 728476 common shares
if vital supplies were cut off tehran could not continue the war with iraq
us treasury says no plans for special bonds
1986 3rd qtr and nine mths includes sales of 35 mln dlrs and 107 mln dlrs
callebaut told that amylum a leading starch and isoglucose manufacturer in which britains tate and lyle plc tatll holds a 333 pct stake had made an undisclosed initial takeover offer for cpcs european corn wet milling business by the close of cpcs tender on march 17
after a highly favorable reception of a trial batch of bread baked from 300 lbs of us wheat flour last february the senegalese appear ready to take delivery of a first tranche of 10500 tonnes of mixed us wheat the us agriculture department said
chinas january grain exports fall
it added that any federal taxes owed on the transaction will be offset by operating loss carryovers
portugals deficit with spain was 832 billion escudos against 577 billion in 1985 with italy it was 704 billion against 303 billion and with west germany 405 billion against 191 billion
japan will import a total of 49 mln tonnes from both areas up from 42 mln a year earlier they said
this time the procedure will be less structured and will be up to the individual banks as to how they wish to handle it
the government of president victor paz estenssoro faced with mounting social unrest against its economic policies has said the miners strike was part of a campaign to discredit it during the visit of west german president richard von weizsaecker who arrives today for a four day official visit
the government has so far rejected suggestions that it let the imf play a role in rescheduling its 109 billion dlr debt the biggest in the third world
luxembourgs economy by contrast will see slightly faster growth in gdp this year as a result of an upward movement in wages
the merger is to be made by onyx buying lasmo exploration in a share swap
institutions and mutual funds are seeing some of their holdings called away
rowan rdc sees substantial losses for year
they said the biggest was bci holdings 235 billion dlr offering on april 10 1986
at a news conference after todays g 7 meeting miyazawa said the ministers and central bank governors did not believe a totally new statement was needed
baker cut short a long planned trip to scandinavia to return here to deal with the economic crisis
if all participation share warrants are exercised the company will obtain some 300 mln marks in new equity
if qintexs us subsidiary has not achieved this ownership within one year after the completion of the merger the subsidiary will have the right two years thereafter to request that hri commence a rights offering to hri stockholders the company said
the us insists the ec complies with what it regards as an unambiguous ruling from the world trade body gatt and dismantles an export subsidy system which has led to italy taking an increasing share of the us pasta market
given the situtation of the ec european community and of the importance for our future connunications audiences and of cooperation already undertaken on the community level that seems the best choice delors added
hechinger is aggressively expanding its stores with a distribution outlet and 28 outlets planned in the next two years
sugar offered to dutch intervention refused
however interest which is paid quarterly cannot rise above 1150 pct
but others noted the feds current add need is not large
midland bank unit issues 900 mln french franc frn
oecd officials said the agreement was based on a provisional accord reached in january subject to ratification by member governments
kiichi miyazawa japans finance minister said the movement since paris was consistent with currency trading ranges the nations agreed to defend in the february talks
agricultural exports fell by 26 billion dlrs or nine pct to 269 billion during the year
the qtr and year 1985 includes a 6000000 provision for restructuring costs related to the sale of its energy business and parts of its bearing business
the ax had built up its market share in france to around four pct last month
some 10000 pitmen in the northern province of leon entered the second day of an indefinite stoppage to demand wage rises and a five day working week the sources said
the price gyrations have combined with rising trading volumes to bring unprecedented volatility to some us securities markets
but many economists say the system which holds eight european community currencies within narrow fluctuation bands remains in its infancy
trade sources said it was certain crops were damaged by the heavy rains but it was too early to tell the exact extent of the damage
to offset this us exports must continue to rise returning enough jobs to the manufacturing sector to boost personal income and consumption he says
general acquisition made its statement in a letter sent to the gencorp board on friday
gencorp gy says rko unit sale terminated
it is open to shareholders registered on may 31
diagnostic retrieval systems inc makes 53 mln dlr bid for rospatch corp
debtor nations should not have to take from their own pockets that is their commercial balance to meet interest payments he added
texaco sources said that if the pipeline service is restored by friday there would be little problem in restoring oil which has been lost to the flood
the utility expects the redemption will save it nearly three mln dlrs annually in interest expenses
merrill lynch in no way benefited from the trades merrill lynch said vaskevitch was suspended when we were informed of the specific allegations and evidence the company did not say precisely when the suspension took place
another analyst noted the price of hk hotels had been distorted by the takeover talks because its net asset value is only worth about 50 dlrs a share
nasds board of governors said it denied the application of knapp to become registered with ka knapp and co located in grand rapids mich
the federal reserve is expected to enter the us government securities market to add reserves during its usual intervention period today economists said
china and bolivia important producers of tin are not members
under terms of the merger which took effective today universal said its shareholders will receive three dlrs a share in cash
it said consumer prices rose 989 pct over the last 12 months against 819 pct inflation in the calendar year 1986
he said the governments policy is to sell its minority holdings in companies as and when circumstances permit
santos says it has significant oil find
tanzania is expecting a record maize harvest of 23 mln tonnes in the 1987 88 financial year ending june up from a bumper crop of 21 mln in 1986 87
arbed said in current conditions cost cutting efforts remain necessary to avoid any weakening of resources which have been built up over the last three years
affandi replied that rice is the main staple and provides an income for 17 pct of the workforce
afg has 185 mln dlrs of bb plus subordinated debt and gencorp carries 100 mln dlrs of same rated subordinated debt
we are proceeding with our strategic plans he said
the 19 pct reserve requirement will only be applied to further increases in banks convertible peseta funds the spokesman said
the department said these falls were only partly offset by a rise in prices of home produced food manufacturing materials
despite what could be a negative chart outlook leiner remains cautiously optimistic and june bonds should find support between 100 and 99 16 32 next week
its working out very well and i think well get a clear majority nogales said
shr loss 120 dlrs vs loss 197 dlrs net loss 6248000 vs loss 102 mln revs 331 mln vs not given year shr loss 125 dlrs vs loss 1344 dlrs net loss 6508000 vs loss 696 mln revs 1234 mln vs not given note results include charges of five mln dlrs or 96 cts shr for 1986 qtr and year compared with charge of 722 mln dlrs or 1394 dlrs shr in prior year from discontinued operations and disposal of discontinued operations
the united states and the asean countries signed a memorandum of understanding concerning tin disposals by the us general services administration gsa in december 1983
irelands industrial production index stood at 1328 in december a year on year rise of 62 pct the central statistics bureau reported
we do not seek further confrontation with iran but we will be prepared to meet any escalation of military action by iran with stronger countermeasures weinberger said
thirdly saudi arabia may be forced to raise prices earlier than it intended to ward off growing calls for higher prices from the us to stimulate domestic drilling and exploration
dixons said it got and accepted only 20 pct of cyclops shares in tender
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 580 pct 575 pct 5 14 days 15 360 days 500 pct 500 pct 15 85 days 580 pct 86 91 days 500 pct 92 176 days 583 pct 177 183 days 500 pct 184 360 days
oper shr profit 11 cts vs loss 245 dlrs oper net profit 3594000 vs loss 819 mln revs 385 mln vs 482 mln note 1986 net excludes 685 mln dlr gain from debt extinguishment
what it did was distort the quarterly earnings pattern he said
colombian oil exports not affected by quake
the cable system serves about 51000 subscribers in the communities of rockford loves park machesney park cherry valley morristown and winnebago county ill rr donnelly said
there are currently 215 mln american express shares outstanding
it said average temperatures for the last 10 days of march in most of east china were three to five degrees centigrade below average
oper shr loss 560 dlrs vs loss 110 dlrs oper net loss 18688000 vs loss 3662000 sales 1073 mln vs 1087 mln year oper shr loss 576 dlrs vs loss 98 cts oper net loss 19213000 vs loss 3263000 sales 4552 mln vs 4170 mln note prior qtr and year figures exclude losses from discontinued operations of 279000 dlrs and 555000 dlrs respectively and respective losses on sale of discontinued operations of 146 mln dlrs and 159 mln dlrs
other analysts however said currency futures may be near the top of their long term rally
chevron corp said its chevron usa inc unit and tokyo based nippon oil co ltd agreed to conduct a joint venture oil exploration and development program on selected chevron leaseholds in the united states
chairman rene geronimus told a news conference the share offer price expected to be announced tomorrow by finance minister edouard balladur would be between 110 and 130 francs
despite the furore fujitsu will proceed with talks on the acquisition in line with the basic agreement reached with schlumberger last year a fujitsu spokeswoman told
by departing last sunday from the language of the paris accord that nations agreed to foster currency stability around current levels baker triggered a run on the dollar
the countrys total foreign debt is 816 billion dlrs the eighth largest in latin america
german research institute lowers growth forecast
the company said if the warrants were exercised in full they would represent a 407 pct interest in jm common stock
shr loss 66 cts vs profit 107 dlrs net loss 20957000 vs profit 11041000 revs 154 billion vs 185 billion avg shrs 732 mln vs 717 mln note 1986 net excludes charge of 948 mln dlrs or 132 dlrs a share from abandonment of bailly nuclear plant
the weekly return showed total dutch gold and currency reserves rose 113 mln guilders to 560 billion guilders
its approximately 14 billion dlrs of loans to the four major latin debtor countries account for 110 pct of year end equity and reserves
norsk hydro saga seek drilling rights in gabon
a 322 billion dlr offer for dome petroleum ltd dmpmo by transcanada pipelines ltd trpto may short circuit domes restructuring plan and open the door for more takeover bids oil analysts said
usair rejected the offer yesterday calling it a last minute attempt to interfere with its takeover of piedmont aviation inc
wardair preferring strong medicine now instead of later already has embarked on a one billion canadian dlr purchase of a dozen aircraft from europes airbus industrie
the new china news agency said an agreement to resume the business was signed by the two sides on wednesday in shanghai where three soviet commercial vessels were being repaired
i think we may be beginning to stabilize this economy
ascs seeks offers to process ccc rough rice
and bank economists contacted by said they believed prime minister jacques chirac could be forced by slow growth and rising unemployment to reflate the economy later this year perhaps in the autumn to boost his prospects in presidential elections due by april 1988
avx corp said it has filed a registration statement with the securities and exchange commission for a proposed public offering of 75 mln dlrs prinicipal amount of convertible subordinated debentures
grade 97 octane with 015 gm lead will be 968 cents litre against 94 cents previously for 04 gm lead
operating income was slightly higher than a year earlier he said the companys financial strength gave it exceptional opportunities to invest for the future
homestake hm mulls buying ore reserves
interest of 775 pct is to be paid in annual instalments starting in 1988 ministry spokesman luis vilhena de cunha said
february is not a big month seasonally but these numbers suggest a fairly good trend for consumer spending said drexel burnham lambert analyst jeff edelman
japan buys some 95000 tonnes soybeans from china
mcdonnell douglas corp which has a five mln dlr investment in republic health corp reph said it has not been approached to sell its shares in republic health
deloitte haskins sells gets stake in company
dor val mines ltd said a recent drill hole from the surfrace has intersected high grade ore in a downdip extension of the discovery vein in its dor val mine in northern quebec
because of uncertainty about exchange rate developments and economic weakness other factors should be taken into account
terms of the transaction were not disclosed
goodyear tire and rubber co said its 1986 results include a tax refund of 757 mln dlrs from the costs of restructuring the company in a successful defense against a takeover attempt by james goldsmith
the new price for continuous galvanizing grade alloyed with controlled lead and aluminum additions is 37 3 4 us cents and 50 1 4 canadian cents a pound
philip augar of stockbrokers wood mackenzie and co ltd said the market expects slower profit growth but forecast a seven to eight pct rise in both earnings per share and pretax profit over the next two years
national wheat growers officials were taking a cautious attitude towards the secretarys comments
he declined to give a reason
but you wouldnt see a rise grubman said the proposals will allow att to selectively raise or lower prices depending on the market
ambrose for undisclosed terms
the proposed rules were outlined today in a consultative paper on large credit exposures taken by recognized banks and deposit takers and may be modified the bank said
vigorous spending on durable goods last month especially cars foreshadow a rise of at least 15 pct in consumption he added
chrysler said its tender offer is expected to begin by june 25 and will be managed by first boston corp
notes in circulation totalled 1711 billion dlrs up 59 mln dlrs from the week before
shr 68 cts vs 68 cts net 539 mln vs 532 mln assets 265 billion vs 222 billion loans 157 billion vs vs 133 billion deposits 138 billion vs vs 116 billion
ecuador crude oil output to resume next month
velayati could not be reached for comment on the us attack on an abandoned iranian oil rig on monday which tehran vowed to avenge
net profit went to 32 mln dlrs from 750000 dlrs in 1985
smith called for boosting gatts links with financial institutions such as the international monetary fund and world bank
there will be difficulty in limiting 0 92 to wheat said gene moos aide to house majority leader tom foley d wash
shr six cts vs six cts prior qtr pay april 10 record march 27
the united states believes japan will only react when bullied and this is a bullying ploy salomon brothers asia analyst carole ryavec said
he said he was confident it would post an excellent profit
commerce secretary malcolm baldrige said the us trade deficit should start to decline soon possibly in the figures for february or march
the measures are also aimed at cooling an overheated economy and could help dampen hungarians appetite for imported western goods which consume increasingly expensive hard currency the diplomats said
french prime minister jacques chirac said that on financial issues the united states and france had very close views and he said treasury secretary james baker was determined to support the february 22 paris agreement on stabilizing foreign exchange parities
there was little domestic and foreign pressure for lower rates and no signs of a change
for march the working interest owner will place 19 mln dlrs in special cost escrow accounts
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
year on year private sector credit grew 3068 pct in december against a revised 2230 pct in november and 232 pct in december 1985
in a filing with the securities and exchange commission cross said he proposed the takeover to the board of the new york publishing house today
gold 471 billion 490 billion and 383 billion sdrs 503 mln 524 mln and 468 mln imf reserve position 354 mln 365 mln and 312 mln us dollars 325 billion both 399 billion other foreign exchange 378 billion 407 billion and 432 billion
he said the best way to deal with this was to use the policies outlined in treasury secretary james bakers debt initiative
waste management amends chemlawn offer raising it to 35 dlrs a share from 33 dlrs
one diplomat said the call for a report showed ministers were determined not to let the japanese question drop
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
the upper reaches of the yangtze are at their lowest levels in a century causing many ships to run aground and making harbour manoeuvres difficult it said
it also said it may sell certain assets to repay the bank borrowings and is holding talks with interested parties
it pressed the banks to allow chile to make annual instead of bi annual interest payments speeding an accord
to date pennzoil has yet to receive any meaningful settlement offer from texaco though it remains open to any realistic effort to settle the matter pennzoil chairman hugh liedtke said in the annual report
picnsave corp picn 4th qtr net
the diversified maker of health and beauty aids said it acquired falmouth maine based gh bass and co in 1978 when the company reported annual sales of 59 mln dlrs
morgans holdings of westpac paper create special problems for it because of the way us regulators view bank holdings of the primary capital of other banks traders said
he added that the consortium which is arranging the deal had completed its preparatory work although the price had not been decided
domestic group net profit 10579 mln marks vs 8071 mln turnover 293 billion marks vs 271 billion incoming orders 292 billion marks vs 286 billion order book at end december 228 billion vs 237 billion tax payments 10498 mln marks vs 8867 mln depreciation of fixed assets 10725 mln marks vs 15075 mln new investment in fixed assets 14888 mln vs 14822 mln dividend already announced 12 marks vs 11 dvfa earnings per share 3222 marks vs 2754 marks shareholders annual meeting may 13 dividend date may 14 world group turnover 388 billion marks vs 362 billion incoming orders 391 billion marks vs 391 billion new investment in fixed assets 247 mln marks vs 252 mln no world group profit figures given parent company net profits 9504 mln marks vs 7491 mln turnover 228 billion marks vs 214 billion
farm credit system requests us credit line
madagascar has signed oil exploration agreements with four foreign oil companies since 1981
us farm reorganizations proving costly gao
although interest by the japanese in putting their money in non dollar denominated bonds and stocks has increased its very difficult to see where else they can put their money than in us dollars and especially the us treasury bond market according to david butcher a senior executive at yamaichi securities co ltds bond operation in london
ministers feel ec forecasts too pessimistic
maynard oil co moil year loss
aide says france supports oil and fats tax
producers met briefly today to exchange views on the market situation but there seems little chance discussion on quotas will begin much before the icos annual council session in september they said
s and p cited expectations of continued profit pressure for this maker of minicomputer products
centel cnt sees lower first qtr profits
of course they are less profitable than other variable rate mortgages said a spokesman for midland bank plc which earlier this year said it earmarked 500 mln dlrs for fixed rate new mortgage loans
world could cope with hormuz closure subroto says
prices for petroleum based energy rose sharply for a second consecutive month during february but by less than in january the department said
neither have the government regulators indicated that there will be a problem
it said the proposed settlements would resolve disputes over possible violations by the five parties
the overhang of metal was reduced further by broker shearson lehman brothers which earlier this year reported having sold its itc related holdings and halved its overall tin position
one dealer said it was seen in the market twice in early dealing buying five mln dlrs each time
neoax inc said it has agreed to sell the assets and business of its novatronics division to veeco instruments inc vee for 20 mln dlrs
bank of france says it leaves intervention rate unchanged at 7 1 2 pct
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
the us house ways and means trade subcommittee unanimously approved a toned down version of legislation designed to toughen us trade laws and wedge open foreign markets to more us goods
the initial five pct stock dividend was paid december 22 to holders of record november 30
pengo pgo to sell some wireline operations
colombia today opened export registrations for april and may with the national coffee growers federation setting no limit
it said the business will operate as ambrose video publishing
the philippines and its commercial bank advisory committee will resume talks tomorrow on what bankers hope will be the final leg of negotiations for a 94 billion dlr debt rescheduling package
kuwait a target of iranian anger over the emirates backing for iraq in the gulf war today rejected charges that fishing vessels seized recently by iran were spy boats
nationwide cellular service inc said it has acquired an option to purchase rights to about 4000 subscribers from americom la systems a los angeles reseller of mobile telephone service for 2750000 dlrs
southtrust corp a 51 billion dlr multibank holding company said it entered into agreements to acquire four florida banks with assets totalling more than 2332 mln dlrs
included in the two mln units to be offered are 280000 shares of common stock to be sold by waverly oil co a selling shareholder of wainoco it said
dollar falls below 14500 yen in tokyo dealers
a strengthening canadian dollar against us currency will also adversely affect revenues and earnings since 85 pct of revenues are generated by sales outside canada said carolian a leading supplier of utility software for hewlett packard computer systems
microsize inc msiz 2nd qtr ends feb 28 net
the st lawrence seaway between lake ontario and montreal is still scheduled to open for the shipping season on march 31 a seaway official said
less than two months after first interstate bancorp withdrew its bold attempt to buy bankamerica corp chairman joseph pinola is still looking for a good buy but he is also looking at ways to avoid being bought
jwt jwt not approached by group seeking shares
a spokesman for smc said the companys 15 member board met today to discuss the proposed compromise
februarys shipments were down on the 154 mln tonnes shipped in february 1986
herrhausen said deutsche had taken part in the recent capital increase of morgan grenfell group plc but had no plans to raise its 44 pct share in morgan grenfell
proceeds will be used for general corporate purposes maryland national said
also to be included in the write down are charges against its advances to an arizona based communications electronics firm the company has an option to acquire it said
gaf chairman samuel heyman estimated that the us chemical industry would report a 20 pct gain in profits during 1987
more gold detected at doyon mine
treasury balances at fed rose on march 6
president reagan has pledged to keep the gulf sealanes open and to protect kuwaiti tankers from possible iranian attack
underwriters were not named in the draft prospectus
the ida credit is for 50 years including 10 years of grace and carries no interest the bank said
b and c planned to form a new public company to hold the commercial operations and envisaged it operating with a capital of between 400 mln and 600 mln stg
earlier today us treasury secretary james baker said brazil should come up with a new economic plan if it hopes to get additional assistance from commercial banks and others
guinn said the commission found 180 mln dlrs of the hike was based on questionable calculations and assumptions while 45 mln dlrs might represented unneeded modernization costs
vicorp restaurants inc vres 1st qtr feb 15 net
nui nui may spin off nonutility operations
belgian february industry output down on year ago
irving estimates full year net would be reduced by 153 mln dlrs after tax if no cash interest payments are received on these loans during the remainder of 1987
grumman gq unit wins mcdonnell douglas order
in 1986 the banks loans to the midwests middle market rose 20 pct at a time of overall weak loan demand in the us concerning banking acquisitions swearingen said the bank would like to buy additional suburban chicago banks
the entire 52 pct stake was purchased at a cost of 32 mln dlrs orion capital told the sec
but clark maintained the potash dispute was another example of why canada needs to find a new way to settle bilateral irritants in the free trade negotiations under way with the us what we are seeking to do is put in place a better system clark said
the fed may add the reserves directly instead via system repurchases
the spokesman added cnooc was ready to enter into contracts for offshore blocks before third round bidding began
statoil refused to disclose its upgraded reserve estimate for the field
pioneer sugar mills ltd said it considered the proposed 220 dlrs a share cash takeover offer announced by csr ltd csras on march 31 to be too low in view of the grouphkuiie and prospects
its been there for over a month the kitty hawk and its force of warplanes is the mainstay of the us indian ocean battle group which patrols a vast area extending from the indian subcontinent through the arabian sea
he said the segment of the pipeline that was damaged was underground and at a distance from the red river that flooded
he thinks the confrontation with brazil could end in a replay of a situation that occurred with argentina in 1984 and 1985
india 1986 87 cotton export quota up 190000 bales
on us markets today asa ltd asa rose 4 1 8 to 61 1 2 campbell red lake mines crk was up 1 3 8 and newmont gold ngc increased 1 1 2 to 31 1 4
assets per share equalled 6568 guilders against 6553
the adb is made up of the bank itself its financing soft loan arm the african development fund adf and the nigeria trust fund another soft loan institution
we havent had a good weather year throughout the beet and cane areas in more than five years said godfrey adding that the us may be due for a good weather year
the coupon on the 25 mln dlr equity warrant eurobond for keihanshin real estate co ltd has been set at 2 1 8 pct compared with the 2 1 4 pct indication lead manager daiwa europe ltd said
gencorp gy to study general partner bid
the issue is callable from march 31 1990 at 104 pct declining by 1 2 pct per annum to par thereafter but is not callable until 1992 unless the share price exceeds 150 pct of the conversion price
merrimac industries inc mmac 4th qtr net
nederlandse gasunie in 328 billion yen loan deal
fed says it sets two day system repurchase ageements
japan may increase its brazilian soybean purchases
venezuela hit by a 40 pct drop in oil income last year had sought a direct link between repayments and the level of oil income but banks resisted on the grounds this could create a dangerous precedent for other latin american debtors
other restrictions still apply it said
bass strait reserves are now two thirds depleted with the three largest fields 80 pct depleted he said
a report from washington yesterday said the study has found that japan has the highest agriculture subsidies in the world and that dairy farmers benefit more than any other commodity producers from subsidies
china raises crop prices to increase output
a unit of inspectorate international ag inszz is raising 200 mln marks through an equity warrant eurobond package with a two pct coupon priced at par lead manager schweizerische bankverein deutschland ag said
you could certainly argue that if new york rose on that basis theres no reason for prices to go up again today said one international oil trader in tokyo
coastal cgp seeks to halt billion dlr lawsuit
swedish drug firm astra rise on aids hopes
a statement by the preferential trade area pta which seeks to create a common market stretching from ethiopia in the north to lesotho in the south said the governments would make the first tariff cut next year
the philippines first quarter growth figures released yesterday indicated the government was likely to achieve its 1987 targets central bank governor jose fernandez said in an interview
dome and encor are actually going to get farther apart
citibank follows uk base rate cut to 105 pct
but vice economic minister wang chien shien said last month that he still does not expect taiwans trade surplus with the us will fall in 1987
the debtors have been performing well some people argue that taking 1 1 8 pct down to 13 16 pct is debt forgiveness
it can permit us to return to a growth rate which is much better than we could achieve in isolation
however the system and fca have become more positive to the idea recently because the system could benefit if it were appointed the agent for a secondary market
media general said the increased dividend is payable june 12 to shareholders of record may 29
ordinary shareholders in avana who accept the increased offer will have the opportunity to elect for cash for all or part of their holdings on the basis of 800p cash for each avana share
another positive for the stock is gms dividend currently five dlrs a share annually which gives it a higher yield than its competitors kirnan said
european markets react quietly to g 7 communique
guinness peat group plc gnspl has arranged to receive a 125 mln dlr five year cash advance facility said barclays de zoete wedd ltd and guinness mahon and co ltd as joint arrangers
deb shops inc said its board declared a 100 pct stock dividend and will increase the quarterly dividend to four cts from 3 1 4 cts after adjustment for the split
usacafes usf sets higher dividend
brown said the banks other nonperforming assets not including its brazilian exposure could rise to over 700 mln dlrs at the end of this quarter compared with 669 mln dlrs a year earlier and 614 mln dlrs at the end of 1986
co leads are shearson lehman and nippon european bank sa
the ministry said the estimate for the 1986 87 years supply of domestically produced sugar was revised to 881000 tonnes from the earlier estimate of 863000
a bundesbank spokesman said in answer to enquiries that the withdrawal of funds did not reflect a tightening of credit policy but was to be seen in the context of plentiful liquidity in the banking system
it did not elaborate
dealers said the dollar will remain weak despite the intervention and it is only a matter of time before some operators try to push it below 148 yen
its new currency the european currency unit ecu has been a runaway success with investors and borrowers alike seeking an alternative to the volatile dollar
the move was aided by indications that the us economy picked up steam in february at the same time as the west german economy was regressing
the exercise prices remain in force after the dilution through an announced rights issue to be conducted on may 11
a spokesman at anacomp said the company expects to complete its deal for datagraphix later this month
at some time during that period all the producers cut support prices in response to growing surpluses
the bank of japan will sell tomorrow a total of 800 billion yen worth of financing bills from its holdings to help absorb a projected money market surplus of 1300 billion yen money traders said
alcan aluminiumwerke gmbh a subsidiary of alcan aluminium ltd aln of canada said it plans to close its aluminium smelter in ludwigshafen at the end of june
commonwealth realty trust said preliminary merger talks with bay financial corp have been terminated due to a failure to agree on terms
the jakarta office will be the third adb office outside its manila headquarters
moodys said it affirmed the ratings of the bank of america unit because of that banks franchise value significant core deposit base and an expectation of regulatory support if further stresses develop
finance secretary jaime ongpin has confirmed the philippines agreed to make token prepayments of principal to foreign banks as part of a 103 billion dlr debt restructuring package
the country is beset by a falling trade surplus and dwindling reserves endangering its ability to service its foreeign debt at 109 billion dlrs the third worlds largest
of course these are our proposals for talks with creditors
union carbide has also benefitted from the turnaround in foreign exchange rates and lower feedstock costs the agency noted
a shareholder group led by a swedish investment firm and a norwegian investor said it raised its stake in the scandinavia fund inc to 2165300 shares or 333 pct of the total from 1978900 shares or 305 pct
the conversion of debt into equity was regarded as an important additional step towards debt consolidation
usair stock soared after twa made public its offer
if history repeats itself the hafts could raise their bid to 46 dlrs if they are rebuffed by supermarkets general the arbitrageur said
reagan said the united states japan and west germany had all reaffirmed their commitment to coordinate economic policies
air canadas 54 mln us dlr acquisition of gelco corps gec canadian unit has dramatically altered canadas fast growing courier industry largely dominated by us companies until this year company officials and analysts said
moodys affirmed eastern airs b 3 senior secured debt and caa subordinated debt and junior preferred stock
elders halves note facility amount amends terms
the bank has repeatedly signalled its intention to prevent dealers from cornering the market in a stock issuing additional stock on occasion to end a market shortage
a company spokesman said this represented additional provisions for the cost of rationalisation plans announced in earlier years
the amounts they are talking about are peanuts m
thyssen stahl employs some 40000 people
the sharp drop in the value of the dollar against the yen and the mark is the first serious test of last months group of five g 5 plus canada agreement to stabilise currencies dealers and bank economists said
a caesars world spokesman said the company was declining comment on the sosnoff move for the moment but caesars may issue a public statement after it has studied the offer
miles said he expects the property market to remain firm but said the firm has no available land for a major housing project such as its taikoo shing development on hong kong island now near completion
austmet should be generating profits from july 1 and a 15 25 mln dlr net is envisaged within two years it said
non defense capital goods orders fell 16 pct in february to 263 billion dlrs after falling 87 pct in january the department said
equity shares the 14 pct non convertible debentures and 125 to 14 pct convertible debentures issued by private companies are not exempted from either the wealth tax or from the tax on income earned from them
mining employment was little changed in march and has not experienced any substantial erosion since the rapid job losses in oil and gas drilling in the first two thirds of 1986
external accounts are in good shape with an estimated 18 billion dinar current account surplus in 1986 16 pct below that for 1985 but still an achievement in the recession hit gulf
rainfall measured between 15 and 270 mm in buenos aires with the heaviest rains in the provinces western sectors between 15 and 100 mm in cordoba 15 and 120 mm in la pampa 10 and 75 mm in santa fe 10 and 60 mm in entre rios five and 40 mm in misiones and five and 50 mm in san luis
1986 year includes 41 mln dlrs 1st qtr writedown
our program is one that overall would provide the greatest long term growth for all segments he said
in response martin said he did not view ibm as a threat to dec nor dec as a threat to ibm because both companies were catering largely to existing customer bases rather than stealing market share from one another
richard adkerson of arthur andersen and co told the subcommittee oil imports were expected to increase because funds for exploration and development of domestic oil sources cannot now be economically justified due to low oil prices
chase a property investment firm said it holds 48 pct of entregrowth its vehicle for expansion in north america
the parent banks 1986 partial operating profit which excludes earnings from trading on its own account had climbed two pct to 671 mln marks
loans and advances from the dutch central bank to the commercial banks fell 101 billion guilders to 95 billion guilders in the week ending march 30 the banks weekly return showed
coarse grain 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 18164 18110 10780 10840 production 83521 83882 84460 84484 imports 9566 9377 9570 9518 feed use 51407 51020 51020 51080 total domes 79633 79364 77076 77214 exports 9897 9847 9602 9576 end stocks 22052 22628 18164 18110 note world imports exports may not balance due to differing marketing years grain in transit and reporting discrepancies
bonus wheat flour for north yemen usda
china welcomed a us supreme court decision dismissing claims by holders of 41 mln dlrs of pre 1949 chinese bonds but us officials said peking has a long way to go before it can issue bonds in the us a foreign ministry spokesman told a news briefing that china welcomed a monday court ruling which rejected a petition by holders of railway bonds issued in 1911 by the ruling qing dynasty which the communist government does not acknowledge
pansophic systems pns splits stock 2 for 1
texas eastern tet unit to redeem debentures
the new investment coin to be sold worldwide will fluctuate in price according to the international price of gold
co managers are australian european finance corp ltd and cho heung bank
american said assets included nine leases totalling 2600 acres various working interests in 15 oil and gas wells on that property all equipment and machinery necessary for operation and a 50 pct interest in a nine mile gas pipeline
associated was one of the major investors participating in the previously reported placement of 1289 mln shares at 375 dlrs each northern star said in a statement
when consumers want to get involved talks are much more difficult the main consumer country the united states and main producer brazil failed to reach agreement on quota distribution when the international coffee organisation ico met in february
morrill managing partner of the boston office of hambrechts hambrecht and quist venture partners unit named chairman
japan will pay five pct less for the indian iron ore it imports in fiscal 1987 88 starting april 1 than the average 18 dlrs a tonne it paid in 1986 87 a government trade official told 
the worlds major copper producing and consuming countries have reached a degree of consensus on objectives and functions of a future study group aimed at reviewing the world copper market officials said
aaron brothers art marts inc aarn 4th qtr net
in the mediterranean netback values were up 17 cts to 22 cts a barrel with arab light up 17 cts a barrel to 1862 dlrs a 09 pct increase from the previous friday and urals were up 22 cts a barrel to 1916 dlrs a 12 pct increase
it said the rights will be distributed on a one for one basis to all shareholders as of october 30 and may be redeemed before they become exercisable at five cents per right
that is 68 basis points more than the yield of comparable treasury securities
food prices rose 02 pct last month after a 05 pct january increase
rha told the us chamber of commerce demands that korea carry out a drastic and sudden currency revaluation of five or 10 pct are i believe extremely ill advised deputy prime minister kim mahn je told a meeting of local businessmen the governments policy on the question of revaluing the won is to maintain a steadfast position kim said south korea was ready to move slowly to raise the wons value because of its heavy foreign debt which stood at 445 billion dlrs at the end of 1986
multivest corp said it has ended talks on oryx capital corp s possible acqusition of multivest and is starting an offer of 151 dlrs a share for all the oustanding shares of tbc industries inc multivest said its tbc tender offer is scheduled to expire april 30
the 2011 maturity will be issued to a maximum of 374 mln dlrs
we hope the weak price will be overcome and predict the price will be better in the third and fourth quarters refiners he said appeared to have used up old stock deliberately to cause slack demand in the market and the price to fall
the wholesale price index base 1963 stood at 1685 in february from 1761 last year
the statement said ministers were very disturbed by us moves towards protectionism
agriculture minister he kang said last month state prices for grain purchase from growers were to be adjusted to increase the incentive for grain production
yield falls on 91 day sama deposits
he said in a television interview the dispute had fanned fears of a breakdown in the cooperation which is so important between finance ministers of the major nations
oesterreichische laenderbank ag olbvvi expects to maintain its dividend and to record a moderate rise in profits this year after the 1815 mln schilling net profit made in 1986 general director gerhard wagner said
statistics published by the monthly journal foreign trade showed soviet trade turnover for 1986 fell to 1309 billion roubles from 1421 billion the previous year a drop of 78 pct
the resulting association will operate under the name of charter and will be based in bristol
that was business already done for all practical purposes said drexel burnham analyst dale gustafson reflecting similar statements made by other analysts
martins has been sold to panfida ltd an australian investment company and drummonds to macarthy plc
clayton and dubilier is a new york based private investment firm which has completed two other management led buyout transactions since december 1986
the iranian news agency irna said on sunday iran had seized seven kuwaiti speed boats and detained their crew who confessed to spying for iraq under the cover of fishing
ouko said the production of kenyas main cash crops increased during the second half of last year
but gm said february sales showed improvement over january adding that it expects improvement in coming months
reichhold chemicals inc said it is raising the prices of its emulsion polymers divisions styrene based latexes for nowovens textiles adhesives and other specialty end uses effective april nine
triton group ltd trro 4th qtr jan 31 net
belgian foreign trade minister herman de croo said he believed there would be a compromise within the european community ec on its proposed tax on vegetable fats and oil averting a pledged tough trade response by the united states
australian annual broad money growth rose 103 pct in february unchanged from january but down from the corresponding february growth rate of 139 pct the reserve bank said
he said the dollar was high because of grossly excessive interest rates for government stock
rule industries inc rule 2nd qtr feb 28 net
the debentures are convertible into the companys common stock at 4850 dlrs per share representing a premium of 236 pct over the stock price when terms on the debt were set
we do not have hard evidence we are still putting things together he said it would take several weeks for the company to complete an investigation
closing of the proposed transaction if it is completed is expected on or before november 2 1987 it said
san paolo said in a statement that subject to obtaining official authorization from the relevant bodies it would merge valley national bank with its subsidiary first los angeles bank value of the planned acquisition was not disclosed
but chris tinker economist at brokerage house phillips and drew said the drop in the year on year rate mainly reflected a rise in excise duties which affected the index in march last year
last year reynolds reported net earnings of 818 dlrs a share which included 309 dlrs a share for adoption of new accounting rules 101 dlrs a share for tax loss carryforwards and other extraordinary items
the company said the dividend on the pre split shares was increased to four cts from three cts
tag group to cut valero energy vlo stake
now a chevrolet dealer might handle several lines jauppi says
stoltenberg does not rule out central bank intervention to stabilize currencies
brunswick corp is raising 100 mln dlrs through an offering of notes due 1997 yielding 8199 pct lead manager shearson lehman brothers inc said
allis chalmers said it is building a consensus among its shareholders retired employees and creditors regarding the consents that will be required for it to complete its restructuring
samuels cited the animal hormones complaint the ec oilseeds regime and an ec regulation concerning meat imports to third countries as three crucial barriers to trade which the us wants to see resolved under the auspices of gatt
in a move which the market interpreted as a possible gesture of reconciliation the bundesbank added short term liquidity to the west german money market at 380 pct on monday down from the 385 pct level at which it injected medium term liquidity last week
nearly half of that will be spent on exploration and production and most of that will be spend overseas silas said
the european community ec and soviet led comecon ended talks here having made progress on setting up formal trade relations but no breakthrough because of comecons refusal to recognise west berlin as part of the ec delegates said
the bank noted that hungary which until recently had given telecommunications low priority recognized that inadequate telecommunications are a serious constraint to economic development and reform
shr profit 27 cts vs profit 51 cts net profit 6600000 vs profit 12231000 revs 2117 mln vs 1934 mln 12 mths shr loss 17 cts vs profit 127 dlrs net loss 4077000 vs profit 30142000 revs 7535 mln vs 6734 mln note in qtr ended 1986 the company recognized expenses of 5948000 for restructing the combined operations of bbdo doyle dane bernbach and needham harper worldwide in august 1986 before tax gains
the notes are available in denominations of 1000 and 10000 dlrs and will be listed on the luxembourg stock exchange
the notes and paper will be issued by iels sydney based subsidiary iel finance ltd
fidelcor ficro buys new england bkneo stake
one idea is to levy new loan contributions on the basis of current exposure instead of outstandings at an earlier base date august 1982 in the case of mexico
industry analyst richard pzena of sanford c
shr profit 25 cts vs loss nine cts net profit 3433000 vs loss 1310000 revs 371 mln vs 390 mln nine mths shr profit 28 cts vs profit 27 cts net profit 3883000 vs profit 3908000 revs 1332 mln vs 1320 mln avg shrs 138 mln vs 142 mln note current net includes gain on sale of 31 inns of 7719000 dlrs for qtr and 7975000 dlrs for nine mths
qtly div 125 cts vs 125 cts in prior qtr payable march 13 record february 27
metal traders said in a statement the contract would underpin the worldwide zinc copper and lead trading activities of austmet a wholly owned london based company with a us unit in stamford connecticut
the smelter continues to operate with available concentrate from stockpiled supplies noranda said
ec backs new move to encourage unleaded gasoline
first wisconsin national bank said it has raised its prime rate to 7 3 4 pct from 7 1 2 pct effective today
soybean export guesses ranged from 140 mln to 160 mln up from the 134 mln inspected last week but below the 255 mln reported a year ago
the company said its agreement to merge into dixons does not permit it to provide nonpublic information to cyacq which is making a competing offer for cyclops that had been provided to dixons
money market dealers noted that call money continued to normalize today falling to 360 70 pct from 375 85 yesterday and as much as five pct on friday when it was pushed up by month end distortions
the dollar fell to a record low against the yen this morning piercing the 150 yen barrier
the us jobless rate in february and january was 67 pct the lowest rate since march 1980
looming trade friction is also threatening to erect more barriers against japanese exports
the officials said negotiations will start next month on another 150 mln dlr loan sought by manila to carry out reforms in 14 major state owned corporations
consul cnsl sees improved liquidity
shr 16 hk cents vs 11 interim div seven cents vs five net 21103 mln dlrs vs 13869 mln turnover 58383 mln dlrs vs 44104 mln note dividend payable may 4 books close april 21 to 27
in its world production and trade report the department said that view is reinforced by the expectation of a decline in exportable supplies of argentine corn and uncertainty over the availability of south african and chinese corn
the company said it will also receive an additional 100 to 250 mln dlrs in five years based on the operating performance of the unit
comp u card international inc cucd 4th qtr net
centronics corp cen year loss
sales of corn to the ussr for delivery during the fourth year of the agreement which ends this september 30 now total 225 mln tonnes
opec defending 18 dlr price subroto says
he said the treasury did not expect the action to have an adverse effect on us issuers of the bonds because the general decline in interest rates means they will be able to refinance at lower interest rates
conable made his remarks before a group of commercial bankers at a meeting sponsored by the export import bank and later informally to reporters
the proposed tax is designed to provide the ec with extra cash to finance community oilseed crops at their current levels and to brake a dramatic decrease in olive oil consumption by making it more competitive with other oils
bangemann referred specifically to subsidies in the steel industry which he said had to be fought with all legal means when they did not correspond to european community guidelines on grants
he stressed however that brazil was willing to pay as soon as it could but added that a payment of interest was not connected with the extension of the credit lines
president of the brazilian coffee institute ibc jorio dauster told after the contact group meeting there had been no agreement on quotas as consumers had tried to dictate market shares rather than negotiate them
he also said there was no sign of a shortage of palm oil in indonesia
but the supreme court said the appeals court was wrong in issuing an injunction halting exploration
but now japanese are going for blue chip organisations he said
currently us wood products are not eligible for government export credit guarantee because they are considered manufactured products amstutz said
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
at last fridays session ahmed farouk speaking for producers said producing nations considered that the 1979 pact had served the purpose for which it had been created
hard hit by the collapse in oil and texas real estate prices first citys net loan chargeoffs totaled 366 mln dlrs last year up from 261 mln dlrs in 1985
the portfolio manager noted that besides the three federal government loan stocks so far this year it has also fallen back twice to raise a total 643 billion marks through the issue of fixed rate medium term kassenobligation notes
it is one of the largest distributors of films and other programs for television
state owned engine maker rolls royce plc launches its prospectus for privatisation tomorrow with many analysts forecasting higher profits this year
the spanish ministry of agriculture said beet sowings are estimated unchanged at 180000 ha this year
a foreign investment group told the securities and exchange commission it raised its stake in scandinavia fund inc to 3040600 shares or 466 pct of the total outstanding from 2829300 shares or 432 pct
finance ministers from seven major industrialized nations agreed on the need to stabilize currencies at current levels but said more action was needed to reduce trade imbalances and sustain economic growth
consequently we believe it is important to renew the us eep offer and do all that is reasonably possible to ensure mutual adherence to the terms of the us soviet grain agreement the letter said
maryland national corp the parent of maryland national bank which earlier this month merged with american security bank said its shareholders will vote on a new name for the regional bank holding company at its april 29 annual meeting
australia leading index continues rise in december
lyng called us and european community export subsidies just plain nonsensical as a long term policy and said he saw an end to the expansion of the eep
it said other provisions dixons will not waive include its rights to recover breakup fees or expenses from cyclops or buy cyclops common shares from cyclops
extra tax allowances for people whose children are being educated would cut 300 mln marks from the tax bill
the deal is expected to close on march 31 act said
international central banks have been at pains to prevent a dollar fall against major currencies including the mark
banking sources said some 80 pct of international creditor banks involved have responded positively to the nigerian debt proposal
canadian oil companies raise crude prices
the sia is a trade association representing the interests of more than 500 us investment banks and securities firms
malaysia the worlds largest producer was seeking cabinet approval to join the new inra and hoped other producers and consumers would also become members he said
conger said the move to consider acquisitions represents a change in the companys acquistions policy conger said all of homestakes current cash position of 120 mln dlrs would be available to acquire reserves
our investigator is there already
eugene carroll of washingtons private center for defense information cdi think tank
the department said the issues are contingent upon final parliamentary authority being given to bill c 40 a previously announced act to give the government supplementary borrowing authority for fiscal 1987 march 31 and borrowing authority for fiscal 1988
inventory was 75212711 versus 75985696 a year ago
montreal trustco issues canadian dollar eurobond
international pagurian corp ltd said it had net profit of 33 mln dlrs or three cts a share for the period august 15 to december 31 1986 based on 552 mln shares outstanding
under a new accounting system introduced this month spains foreign reserves now exclude foreign currency held by financial institutions
he said as the stock moved up following acquisition proposals from a group formed by afg industries inc afg and wagner and brown some of his clients were overweighted
light showers in eastern algeria and tunisia maintained adequate moisture for crop growth it said
kayaba industry co ltd is privately placing 50 mln swiss francs of five year straight notes with a 4 3 4 pct coupon and 10025 issue price lead manager credit suisse said
hernandez grisanti said also a first 300000 barrels shipment of venezuelan crude oil will leave for ecuador this weekend to help meet domestic consumption needs
rowley scher rsch to have loss for year
the company said domestic earnings in 1986 improved slightly despite strong competition due to efforts to avoid taking on orders which would not break even
woolworth holdings pretax profit 1153 mln stg vs 813 mln year to end january
data translation inc datx 1st qtr feb 28 net
zim said it has agreed to acquire the remaining interest in its buccaneer and blue dolphin pipeline affiliates for about one mln dlrs in cash and stock
top discount rate at uk bill tender falls to 93657 pct
fed sets two billion dlr customer repurchase fed says
good results were achieved by its argos and saks fifth avenue in retailing and by wiggins teape and appleton in paper
nearly 80 pct of canadas exports are shipped to the us each year
but a senior government official said the fourth quarter figures could surprise by showing a rise of more than one point quarter on quarter
annual inflation measured by the consumer price index is forecast to fall to nine pct by next march from 182 pct in calendar 1986 it said
the bonds were sold yesterday
analysts said they base their thinking on royal dutch shell groups rd sc bid to buy the outstanding stake of shell oil co in 1984 and 1985
volcker says fed policy not responsible for prime rate rise
revenues dipped to 790 billion dlrs from 793 billion dlrs
if we can get more well take it
shr 164 dlrs vs 156 dlrs net 4583000 vs 5313000 revs 201 mln vs 19 mln avg shrs 28 mln vs 34 mln year shr 506 dlrs vs 592 dlrs net 16 mln vs 203 mln revs 746 mln vs 68 mln avg shrs 32 mln vs 34 mln
baker bko sues to force hughes ht merger
will and senior vice president william d
debtors and bank creditors have a joint responsibility and there will be no lasting solution unless a positive flow of financing is guaranteed azpurua said
pennsylvania power and light co said it will offer 500000 shares of 6 7 8 pct series preferred stock at 100 dlrs per share and 500000 shares of 7 3 8 pct series preferred stock at the same price plus accumulated dividends from the date of original issuance
asked if american authorities could have been persuaded by cuts in german rates to come to the bargaining table as early as last september one of the sources quoted poehl as saying no they wouldnt have been
g 7 issues statement after meeting
if they the administration are interested in selling it wheat they should find ways to do it
premdor inc said it planned a two for one common stock split subject to shareholder approval at the may 4 annual meeting
us tin disposals should have little effect on an agreement reached last weekend by tin producing countries to limit group exports to 96000 tonnes in the year started march 1 a government official said
given an average yield of 35 tonnes per hectare national production would be around two pct higher than in the previous season at just above 16 mln tonnes it said
their japanese buying over the course of the last six months has been very much concentrated in the medium term maturities noted one canadian bond trader who asked not to be identified
president reagan said today economic policy decisions made last year in tokyo and at this years meetings of group of seven finance ministers in paris and washington cannot be ignored or forgotten the commitments made at these meetings need to be translated into action he added in a speech celebrating the 40th anniversary of the marshall aid plan for europe
it has increased 83 pct since march last year
sahlen said the deals terms were not disclosed but added that the acquired companies had combined annual revenues of over 18 mln dlrs
the sequestered shares are split into 24 mln a shares which can only be owned by filipinos and 14 mln b shares which are available to foreign buyers
joseph light saj sets split hikes payout
shr loss 15 cts vs loss 11 cts net loss 632000 vs loss 437000 revs 3206000 vs 2650000 year shr loss 19 cts vs loss 24 cts net loss 793000 vs loss 1004000 revs 115 mln vs 144 mln note prior year figures restated to reflect merger in march 1986 with amtron corp
consumers and producers could not agree on how it should operate and what discretion it should be given
cavendish will buy the 3482 mln hongkong electric shares from hutchison by issuing 975 mln new shares
combustion engineering inc said it expects first quarter earnings to be 20 to 25 pct below the year ago 136 mln dlrs mainly due to financing costs resulting from the january 1987 acquisition of accuray corp
american airlines spokesmen were not available
salomon inc sb sets regular quarterly
wholesalers inventories rose 13 pct in january to 14025 billion dlrs
canamax resources inc and pacific trans ocean resources ltd said they conditionally approved starting production at their jointly owned ketza river gold deposit in the yukon after a study recommended the move
if we allowed the guilder to become a little cheaper the markets would start to believe it was weak
the department said government spending on farm programs in fiscal year 1987 is projected to fall half a billion dlrs from 1986s 258 billion dlrs
matsushita to issue 200 billion yen convertible
from the parent net profit 60 mln marks would be placed in published reserves unchanged from the two prior years
taihei kogyo issues 40 mln sfr five year notes
the houston based banks 1986 financial statements received a qualified opinion from its auditors arthur andersen and co
may said the chicken industry favored moving away from bird by bird inspection procedures to a risk assessment system better able to identify microbial and bacterial contamination of poultry
asamera inc said wholly owned asamera oil us inc concluded the 2525 mln us dlr sale of its denver refinery to total petroleum north america ltd
fields in the west were short of nitrogen and moderate insect activity was noted in the southwest region
industry analysts had speculated that att might cut its common dividend especially after the company posted a fourth quarter net loss of 117 billion dlrs and earned only five cts a share for the full year
a new agreement between the imf and zaire would pave the way for another debt rescheduling probably at the next meeting of the paris club of western creditor nations diplomats said
its primary mission would be to analyze the extent of illegal trading on insider trading and to assess the adequacy of existing surveillance systems and government oversight operations
industry sources said that among the options are for venezuela to produce ecuadors entire quota or for venezuela and non opec mexico to share it and for the latter to supply ecuadors far eastern clients
payment date is april 9 and listing will be in london
rather than using accounting tools to reflect income it is not taking in the company will now account for only the 40 pct of the cost of owning and operating the plant that regulators are allowing in the form of interim rate relief barnes said
the central bank was concerned about growing market expectations of higher interest rates which were in part responsible for the recent plunge in stock and yen bond prices the officials said
japans law limits foreign ownership of any new international telecommunications entrant to 33 pct so c and ws and pacifics stakes could be three pct in the merged firm sources said
pacific also said it expects ot earn three mln canadian dlrs for the year ended june 30 1988 and 10 mln canadian dlrs for the year ended june 1989
the gilt market reaction was correct said bill martin chief uk economist at brokers phillips and drew
an investor group that includes t
under that plan a minimum of 400000 dlrs and a maximum of one mln dlrs of additional new capital is to be provided to fund the combined operations of the three companies
the conditions relating to tendering will have to be associated with conditions for receiving soft loans he said
the banks rejected the original pins proposal last friday but ongpin presented a revised proposal on monday which sought to satisfy the banks objections by guaranteeing that the notes would yield 7 8 pct over libor in cash
detection systems detco year end march 31
fears that the program would encourage inflation were incorrect he said
newpark resources inc year ended dec 31 loss
they will be underwriting three mln dlrs each instead of five mln dlrs
it said it plans to enter the health care business in japan
the commission would advise congress as to what additional resources or civil or criminal remedies are needed to combat fraud and improve compliance with federal laws rinaldo said
a special federal prosecutor has been appointed to determine whether former reagan aide lyn nofziger acted improperly when he became a wedtech consultant four months after leaving the white house
the us agriculture department detailed world supply demand data for major importers and exporters of corn by country as follows in mln tonnes ussr corn 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks na na na na production 1250 1250 1440 1440 imports 800 600 1040 1040 domes use 2050 1950 2440 2440 exports nil nil nil nil end stocks na na na na na not available
cotton said it bought the stock for investment purposes only
brazils economic crisis is forcing a wholesale re examination of the established strategy for dealing with developing country debt leading bankers say
nelson holdings international ltds nelson entertainment inc unit said it has entered an agreement to co finance ten motion pictures with hemdale releasing corp
tenders must be for a minimum of one mln dlrs and non competitive tenders from the public will not be accepted
qtly div three cts vs 2 1 2 cts prior pay april 15 record april six
cumulative purchases so far this season stand at 217235 tonnes ahead of the 203884 tonnes purchased by the 23rd week of last season the board said
the last confirmed iraqi attack was on on march 8 when an iranian tanker was hit by a missile south of irans kharg island oil export terminal
american pork congress to be overhauled in 1988
the market was originally forecast to open with average five stg gains from last night following new yorks firmer close yesterday dealers said
the world bank said it approved a 70 mln dlr loan to hungary to help finance a 8331 mln dlr telecommunications project
it said amselco will retain a majority interest in the project
natl healthcare nhci to sell five hospitals
another possible solution would be to stop supporting farm prices allowing them to be fixed by supply and demand and instead help farmers through income support and adjustment aids proposed james howard executive vice president of cargill usa one of the worlds largest cereal houses
announced last february 28 the plan froze prices fixed the value of the new cruzado currency and ended widespread indexation of the economy in a bid to halt the countrys 250 pct inflation rate
canadian imperial bank lowering visa rates
dome was the most active stock on the toronto exchange at 150 dlrs per share up 37 cts
weizsaecker arrived for a four day visit opening a latin american tour which includes bolivia and guatemala
inland vacuum inc said is board proposed a two for one stock split payable to shareholders of record april 30
investors up intermedics itm stake to 168 pct
shr six cts vs five cts net 199037 vs 135587 sales 1594895 vs 1368959 avg shrs 31 mln vs 25 mln year shr 25 cts vs 19 cts net 695398 vs 446426 sales 5785365 vs 4520781 avg shrs 28 mln vs 24 mln
standard and poors corp said it downgraded to ccc plus from b minus hyponex corps 30 mln dlrs of subordinated debt
shr 111 dlrs vs 104 dlrs net 44092000 vs 35145000 revs 194 billion vs 134 billion note 1986 results include extraordinary gain of 1035000 dlrs or six cts a share from secondary share offering of canron unit
washington said the operation was aimed at destroying positions used by iran to track and assault neutral gulf shipping
in addition the value of roasted coffee should be substantially higher than that of unroasted beans they said
bank assets climbed to 276 mln dlrs from 240 mln dlrs in 1985 it said
also the category including fuel oil coal and bottled gas rose in february by 38 pct putting it 149 pct under the year ago figure
am international am cites strong prospects
the consensus appears for about two mln barrels to be added to the nations inventory
but the economists said this will be possible only if the organisation of petroleum exporting countries opec succeeds in defending world oil prices and if saudi arabia is not forced to curtail output for too long
the proposed merger that would create a 12 billion dlr oilfield services company was thrown into limbo yesterday when hughes management balking at the terms of a government consent decree offered a counter proposal to baker
the market is now firming on actual fundamentals he said adding that he expected it to go up and up even beyond official prices after early april
echlin inc ech 2nd qtr feb 28 net
maxicare said the terms would not be in the best interests of the heatlh care providers who have built the alabama hmo
merrill lynch mer fires vaskevitch
earlier kay had repeated agriculture secretary richard lyngs statement last week that the door is not yet closed on an eep to the soviet union
by contrast monetary authorities spearheaded by the bank of japan are estimated to have bought as much as 10 billion dlrs in the last 10 days of march but could not prevent the dollar from skidding through 150 yen and plumbing a 40 year low monday of 14470 yen
poehl expressed surprise that financial markets had so far ignored improvements in the us deficits
they will be lifted as the facts of change by japan to the agreement that it made become evident he said us officials had only been able to monitor the situation for a month and that it was impossible to determine a trend on only one months data
saxon oil development partners sax in payout
the lesson of history is that once the inflation genie gets out of the bottle it continues to persist he said adding he would like the fed to tighten credit
he called the 25 dlr offer by mark iv fair value but on the low side i dont think management was looking for a buyer in any way before this offer he said
1986 figures not given as company went public on june 2 1987
cts said it charged an additional 28 mln dlrs in special expenses to its 1986 operations as a result of the dynamics corp settlement
in an earlier statement faber said that if an offer were to be received for its stake in the merchant banking group it would be considered on its merits
she estimated 1987 earnings of 250 dlrs per share up from 201 dlrs per share
the panel is due to submit its report by april 15
however the european coffee trade federation meeting which began here today and is to continue to the end of the week has revealed gaps in the european position on re introducing quotas
egypt will tender thursday for 200000 tonnes of optional origin corn us number two or equivalent 145 pct moisture for late april shipment private export sources said
one quarter or 178 mln dlrs will be paid on signature of the accord expected in late march with the remainder in three more instalments to be made every six months
traders said some of the activity stems from battles among japanese and foreign securities companies and banks for the prestige of placing a larger share of issues
the international monetary fund imf said it approved 1259 mln sdrs to assist development in jamaica
patrick michaels jr and cea investors partnership ii video said it currently has 7525000 shares of common stock outstanding
gencorp takes no action on stock dividend
harcourt made a 50 dlrs a share unsolicited bid on march 11
mitsui expects last years 10 billion yen japanese lsi market to grow quickly
soybean meal use amounted to 202546 tonnes against 253498 and 213287 and its compounding ratio was 98 pct against 98 pct and 102 pct
the company said it orginially sought to include these costs in its pga since the payments to products resulted in almost five billion dlrs in prospective price relief and were not related to take or pay buyout costs
the bank of england said it provided the money market with late assistance of around 25 mln stg
us says no pact on relief for poorest states
no changes have been made or are being planned in the agriculture departments calculation of price differentials between interior grain locations and the texas gulf a senior usda official said
standard and poors corp said it assigned a preliminary aaa rating to 150 mln dlrs of 7 1 4 pct guaranteed subordinated bonds due 1992 of nomura international finance plc the uk unit of nomura securities co ltd
the report published today by the economic monthly the peru report said the success of president alan garcias government in stimulating output last year to achieve a growth in gross domestic product of over eight pct represents gains in the short term at the expense of the long government officials had no immediate comment on the report which advised a reduction in the overall size of the public investment program and greater emphasis on the preservation of perus export potential
shr 62 cts vs 38 cts net 1110484 vs 677192 revs 366 mln vs 311 mln six mths shr 92 cts vs 68 cts net 1649453 vs 1211597 revs 682 mln vs 585 mln
it said the distribution is payable march 27 to shareholders of record march 13
baker emphasized that indicators were a device for moving beyond rhetoric to action he said they provide more structure to the system and induce more discipline and peer pressure into the process of policy coordination he said the funds procedures for surveillance need to be reviewed and updated to reflect the use of indicators
tradestar tirr acquires image video
it said a bank can sell the bonds on the secondary bond market for either dlrs or pesos depending on its requirement
a finance ministry statement said the year on year differential between french and lower west german inflation rates calculated on the last three months had narrowed in february to two to 23 pct compared to 27 pct in january
may gasoil futures were off 150 dlrs a tonne this morning while june was down 125 dlrs in thin conditions
qtly dividend 17 cts vs 17 cts pay april 10 record march 26
butler btlr to buy skylight manufacturer
1985 year and 4th qtr include capital gains of 240 mln dlrs and 233 mln dlrs respectively and extraordinary gain of 39 mln dlrs
results will be released by march 31 1987
ontario treasury bill yield rises
great american issues 15 billion yen eurobond
plaintiffs cited their belief that a superior offer would be forthcoming however one company mentioned in an affadavit interlink express plc denied that it was interested
on january 9 the company sold 100 mln dlrs of same rated same maturity notes yielding 7 3 4 pct or 115 basis points over treasuries via a shearson lehman led syndicate
that compares with 106200 tonnes shipped in the prior week
bp initially took a stake in standard following the discovery of oil in alaskas prudhoe bay in 1969
the bank of englands action also was thought to be completed on behalf of the japanese central bank reinforcing the markets view that japan is the most resolute of the six nations in its support of the currency pact
market talk suggested 11 dlrs had been paid for grain from the us north pacific to japan but no confirmation was available
shr loss 17 cts vs loss 14 cts net loss 467000 vs loss 400000 revs 3856000 vs 3423000 avg shrs 2821000 vs 2797000
the province of quebec is issuing a 30 billion yen eurobond due may 7 1997 paying five pct and priced at 102 1 2 pct lead manager bank of tokyo international ltd said
they worry that this could further reduce the industrys shrinking deposit base
british chancellor of the exchequer nigel lawson said the next uk election was not the only element standing in the way of full british membership of the european monetary system ems but he added that arguments against joining had weakened
d and k with assets of more than one billion dlrs is one of the leading us companies involved in the leasing of fleets of cars according to ge credit
former treasury official urges currency reforms
software services of america inc ssoao net
the report looking at the countrys financial development prospects said italys large public sector deficit and growing public debt were among the considerations that made a gradual liberalization preferable
the company said directors declared a quarterly cash dividend on each new share of both classes of 28 cts payable april one to holders of record march 20
the partnership whose sole general partner is elkhorn investor alan parsow said it has no present intention of effecting any change in the control of orange co inc
the phlx now offered options in eight currencies including a new australian dollar option and traded an average 42000 contracts daily with underlying open interest of more than 30 billion us dlrs
but the usda official said he saw no hold up in obtaining that approval
the treasury would strive to keep the psbr at 10 pct of gdp in future he said
loh said bank interest rates currently stand at 30 to 35 pct for fixed deposits and the prime rate is 55 pct and these rates are expected to remain fairly steady this year
first tuskaloosa has assets of more than 425 mln dlrs
under current so called sodbuster law farmers who planted alfalfa and other multiyear grasses and legumes on highly erodible land in the years 1981 through 1985 lose federal farm program benefits if they produce a row crop on that land in later years
more
total enrollment in the first three years of the program is only 89 mln acres so the sharp increase expected this year has underpinned new crop corn futures all week
trinity industries inc trn sets quarterly
another participant in the meeting who asked not to be identified said lyng was unresponsive to the groups request
the court is due to make a final ruling on may 7 but zeebregts said he expected the judgment to go against the employers and they were therefore very likely to restart the complicated legal redundancy procedures in the near future
but i am looking at it in terms of the economy she said she was not trying to oppose official policy
the february year one year rise was 40 pct compared with a 39 pct rise in januaryr
consolidated papers inc cper 1st qtr net
shr three cts vs four cts net 30969 vs 18230 revs 956971 vs 702994
shr 269 cts vs 251 cts fin div 80 pct gross vs 80 pct group net 1061 mln dlrs vs 990 mln note fin div pay may 25 record april 18
bp will draw in cash from its operating companies around the world and is also arranging a five billion dlr line of credit he explained
the world shipping recession and the yens appreciation against the dollar depressed may orders he said
they said owning oil reserves in a politically stable united states is good insurance against future shortages
weisfields inc weis quarterly dividend
the united states remained isolated among the inter american development banks 44 members as the bank ended its annual meeting here today without agreement on us proposals to reform the regional lending institution
el paso electric will use proceeds of about 6844 mln dlrs from sales and leasebacks completed in 1986 of its entire ownership interest in palo verde nuclear generating station unit 2 to redeem the double digit debt
the paper said indonesia must boost the scope for private business initiative as well as stepping up its use of aid money already committed
financial terms were not disclosed
democracy in latin america must not be endangered because of misery or new injustices he said
the group announced the issue with its first half earnings and said in a statement that the rights issue will be followed by a one for four bonus issue
baker said today it would withdraw the one billion dlr lawsuit it had filed to force hughes to follow through with the merger
the variable money market cds provide a low cost dependable source of funds for issuing japanese banks said robert shapiro executive vice president with shearson lehman commercial paper inc
the group of consumers has been seeking an adjustment of the lower indicative price set at 150 malaysian singapore cents a kilo in the present pact if the buffer stock currently 360000 tonnes rises to 450000 tonnes
in addition bankers balances above target will add some 20 mln stg to the system today
yugoslavia has reached an agreement with western creditors on refinancing a portion of its 197 billion dollar hard currency debt
the state guaranteed five year bond pays 4 3 8 pct and was priced at 101 1 2 pct
french prime minister jacques chirac opened talks with president ronald reagan expected to focus on superpower arms control moves and trade issues
he said malaysia agreed to the oil for bridges deal in october after india said it could no longer buy some 700000 tonnes of palm oil a year because of its trade deficit
after last years 28 pct rise in real incomes private consumption was likely to rise 225 pct in 1987 after 19 pct in 1986 despite a present trend towards higher savings
ranger rgo sets terms of eurobond offer
the market had been dominated by saudi arabias 11 banks foreign exchange houses in the kingdom and offshore banks in bahrain
santa fe southern pacific appeals merger ruling
the federal reserve entered the government securities market to arrange two day repurchase agreements for system account a spokeswoman for the new york fed said
the french state railway company the ste nationale des chemins de fer francaise sncf is issuing a three billion french franc domestic bond in two tranches the bond issuing committee said
coca cola bottling co consolidated said it has agreed in principle to sell its vancouver based canadian bottling subsidiary to coca cola co ko for undisclosed terms with closing expected within 60 days subject to regulatroy approvals
the shares rose 11 cts to 88 cts on the toronto stock exchange yesterday
north american group namg 4th qtr oper loss
barnett banks inc and home federal bank of florida said they filed a suit against the federal home loan bank board and the federal savings and loan insurance corp
the crash of the private herstatt bank with losses of over one billion marks stunned west germanys business community and led to a tightening of banking regulations
jewelmasters jem sees net below estimates
ne electric nes auditors qualify annual report
this is the first dividend payment since 1981 the company said
progress at rubber pact talks reported slow
in the 1986 calendar year gnp rose 25 pct after a 47 pct increase in 1985
analysts noted that heyman seems to have no problems with financing the transaction
one arbitrageur calculated the equity in the redstone plan was worth 250 dlrs making the total package worth 52 dlrs per share
finance minister michael wilson said it was too early to comment on the tax implications of transcanada pipelines ltds 43 billion dlr offer for dome petroleum ltd
the cash market is strong and may overshadow the report said robin fuller analyst for agri analysis
fermenta is due to hold an extraordinary shareholders meeting on tuesday to approve the planned equity issue
qintex will also acquire another 24 mln roach treasury shares at seven dlrs a share 12 months after closng for another 168 mln dlrs hrs said
sosnoff is caesars worlds largest shareholders with 4217675 of the companys shares
analysts said bond international is heavily geared as it has relied on bank borrowings to purchase both the hongkong land properties and the hk tvb shares
the situation now is worse than it was
oper shr loss 79 cts vs loss 232 dlrs oper net loss 2536896 vs loss 6562472 revs 138 mln vs 145 mln year oper shr loss 59 cts vs loss 235 dlrs oper net loss 1712896 vs loss 5747472 revs 436 mln vs 442 mln note 1986 excludes charge of 12 cts per share in the fourth quarter and gain of 11 cts per share in the year
the solution of the worlds debt crisis requires open markets but a possible resurgence of protectionism is the biggest danger the president of the federal association of german banks wolfgang roeller said
sara lee corp sle shelf offering of up to 10 mln shares of common stock through morgan stanley and co inc and goldman sachs and co
the package obtained by also includes a provision outlined in advance by usda officials that would increase the annual permissible cut in the basic price support levels for all major crops to 10 pct from five pct
us sugar quota may be eased congressman says
the united arab emirates uae recorded a 1986 trade surplus of 122 billion dirhams narrowing from 302 billion in 1985 the central banks latest bulletin shows
the report said that since much of the early growth in february was from late seeding rather than from normal development his view was that the damage may be more extensive than some local observers say
world bank chief stresses third world growth
the ecuadorean crude reaching tumaco will be shipped by boat to ecuador for refining into oil products to meet domestic demand
sudan has an annual debt liability of 900 mln dlrs khartoum based western experts say
amca international ltd said it finalized agreement to sell certain assets and inventories of its dominion bridge steel service center operations to federal industries ltd s russelsteel inc unit
the bond may be retired between 1991 and 1996 if the secondary price does not exceed par
gi valentchits deputy trade minister at the soviet embassy told a report earlier this week that tsvetmetpromexport had asked the philippine government whether it could help rehabilitate or operate nmic was incorrect
small and medium bulk propane sales totalled 55000 tonnes in 1986 and the transfer will increase total business of primagaz by about 12 pct equal to 32000 extra customers
traders said the move was designed to put pressure on kenya which provided some 48 pct of pakistans 75 80 mln kilo annual tea imports to buy pakistani manufactured goods in exchange
qtr ends march 7 shr 48 cts vs 39 cts net 187 mln vs 156 mln revs 4154 mln vs 3845 mln nine mths shr 131 dlrs vs 78 cts net 507 mln vs 318 mln revs 104 billion vs 101 billion note per share for yr and qtr prior restated to reflect two for one stock split in jan 1987
total corn commitments to the ussr for delivery in the fourth agreement year amount to 2825600 tonnes
the unfiltered index however fell 01 pct in january after rising 10 pct in december
mulford gave no further details
the government said it raised the export duty on processed palm oil ppo to 6406 ringgit per tonne from 4096 ringgit effective from march 1
the policies of the open door and economic development outlined in 1979 will not change although there may be fluctuations in speed
the icco council is due to elect a new executive director when it reconvenes friday producer delegates said
results for tel aviv israel based company translated at rate of one dlr to 1485 new israeli shekels
southwest bancorp swb to exchange preferred
however affandi said volatile world sugar prices the need to save foreign exchange and an already up and running sugar industry were good arguments for continuing the sugar drive
the us currency was subsequently being quoted at 14925 35
some governments including austria had linked their final approval to other trade credit issues which would be discussed at a meeting here in mid april they added
one source said the us would continue to make clear to member states and to the ec commission that if brussels proceeds with the vegetable oils tax there will be a great cost us officials said no formal list of european products on which the us might retaliate has yet been drawn up
fed sets two day system repurchases fed says
shr loss 52 cts vs profit 107 dlr net loss 2917000 vs profit 5963000 revs 341 mln vs 403 mln year shr loss 139 dlr vs profit 124 dlr net loss 7749000 vs profit 6946000 revs 1386 mln vs 1862 mln note 1986 net includes certain non recurring charges of about 5506000 dlrs for a number of items
he said the quality of five to six year old rubber in stock was uppermost in consumers minds
asahi is selling 500000 shares in glaverbel while the company itself is issuing 340000 new shares
barley rebates of up to 13850 ecus were requested for a total of 40000 tonnes and at 139 ecus for 85000 tonnes
the earnings results for the fourth quarter were also unchanged
the source said the ec will be looking for signs of flexibility on the part of producers in the next few days and will be able to respond if they are there
one seven year tranche will be priced at 9994 pct
the company said however it expects positive operating comparisons for the period
it said it cancelled a previous pact with a yugoslav firm because the firm could not raise enough capital
algeria is tendering tonight for 225000 tonnes of hard red winter wheat at 9400 dlrs per tonne c and f the balance of its original tender under the export bonus program us exporters said
treasury secretary james bakers comments that the g 6 nations remain committed to the paris accord coupled with his refusal to give any targets for exchange rates provided a note of stability to the market tuesday the analysts said
commerzbank ags management board chairman walter seipp called on the bundesbank to reduce interest rates to protect the mark through bringing the allocation rate for securities repurchase agreements down
peter miller apparel group 3rd qtr jan 31 loss
earlier gabelli said in a filing with the securities and exchange commission that it holds a 285 pct stake in digiorgio and that it together with gamco investors inc may seek control of the company
refined copper stocks held by us refineries fell to 109200 short tons at the end of january from 145400 short tons at the end of december the american bureau of metal statistics reported
canada wheat board advises cut in grain prices
commercial credit ccc unit sells division
each warrant will entitle the holder to purchase 45 savings shares of efi banca at a premium of about 10 pct above the closing price on the milan stock exchange on or before march 17
the bank of england said it operated in the money market this morning buying 103 mln stg bank bills
it is clear that opec through jawboning and quota restraint will boost the price of oil margoshes said
taketomi said it may have received a further boost from government buying of farm products as the domestic crop last year was good
schweizerische aluminium ag alusuisse plans to reduce share and participation certificate capital by 50 pct to cover losses in 1986 and those carried forward from the previous year chief executive hans jucker said
last night hughes said the planned merger with baker was off
tugs to attempt refloating korean bulk carrier
although this may be due to extraordinary factors such as a sharp rise in car exports to rebuild depleted european stocks several economists said it could mark the beginning of a recovery
ah robins qrah to consider rorer offer
brazilian seamen say 14000 now back at work
william palmer the groups spokesman which claims to speak for thousands of united employees said the meeting with olson was positive and friendly but no future meeting dates were set
commerce bank said improved other income which rose to 2136 mln dlrs from year earlier 1701 mln dlrs and net income was partially offset by the increased loan loss provisions non interest expenses and income taxes
the move is part of our government efforts to encourage imports from our trading partners particularly from the united states he said
phelps dodge would only want a friendly deal he added
more than 50 pct of the banks must approve and nogales said he is confident this threshold will be reached
bayou byou in definitie merger agreement
entregrowth closed at 135 dlrs and options at 55 cents
vista management inc gets bond guarantees
movie theater magnate sumner redstone and a viacom management group are in a bidding war for viacom
carolina power and light co said its board has decided to cancel coal fired mayo unit two the second unit planned for its mayo plant in person county nc the company said the 690000 kilowatt unit was only about one pct complete and was scheduled for commercial service in 1992
the branches are in la jolla la mesa and san juan capistrano calif
us officials have repeatedly charged that the japanese public sector is closed to us supercomputer sales despite us firms technological lead in the field
lands end inc said its board declared a dividend of 10 cts a share payable april 30 record april 13
twa twa confirms ownership of usair u stock
theodor stadelmann dealer with bank julius baer and co ltd in zurich said he expects the dollar to hold steady against the mark and swiss franc but to weaken further against the yen possibly to 140 yen
the real rate of return will be the sum of 060 pct plus the gross real rate of return on the 2 1 2 pct index linked treasury stock due 2020
intl minerals project to boost hog lean weight
they may well succeed in securing action by governments which would be highly injurious to trading nations like japan and the uk channon said there had been substantial growth in the volume of trade between japan and britain amounting to 62 billion sterling 98 billion dlrs last year
growth of palm oil use set to slow output to rise
a senior ivory coast agriculture ministry official confirmed his countrys backing for a new international cocoa pact and said ivorian delegates would be present at talks on its buffer stock starting this week
it also forces the administration to act rapidly when an industry complains that a surge in imports threatens its existence
zollinger said total is waiting for the river waters to recede before they reactivate the pipelines
japan asks traders exporters to cut dollar sales
khamenei denied that the platforms had military gear or personnel and said the us attack lacked miltary value
k mart km selling kresge to mccrory
the crucial piece of news in the budget was that the public sector borrowing requirement would be held to 40 billion stg
but the april 3 ousting of prime minister anibal cavaco silvas government could slow economic reforms and investment as portugal continues to adapt to membership in the european community which it joined in january last year they said
moodys investors service inc said it launched today a new index of investment grade us corporate bonds based on 100 issues
pentland industries plc said it report a substantial capital gain from the sale of part of its holdings in reebok international limited which will cut its stake in reebok to 322 pct from 367 pct
the food including 30000 tonnes of cereals 6000 tonnes of sugar 4000 tonnes of beef and 13300 tonnes of butter has been distributed to the needy through charities
but todays smaller than expected rate cut appeared to have placated markets for now analysts said
active soymeal export loadings at the gulf had pushed soybean futures and premiums higher prompting a pick up in the weekly crush number
if they buy for ten and sell for eleven and think its a good deal they are free to go ahead one source added
hawaiian electric he to buy hawaiian insurance
safeguard health sfgd 4th qtr loss
the deal has an investor put option after five years which will be priced to give the investor an annual yield to the put of 8 3 4 to nine pct
it quoted president ali khamenei as saying we will definitely retaliate and will not leave this american move unanswered a broadcast monitored in nicosia said several civilian personnel on the rashadat oil platforms in the gulf east of qatar were injured when us warships bombarded them this afternoon
but officials here said they hope that can be avoided
dna medical inc said walter g
eia says distillate stocks off 34 mln bbls gasoline off 100000 crude up 32 mln
atpc executive director victor siaahan told he received a telex from zaire indicating its willingess to take part in the plan to limit total atpc exports to 96000 tonnes for a year from march 1
shr 17 cts vs 16 cts net 1315000 vs 1161000 revs 432 mln vs 365 mln avg shrs 7916000 vs 7490000 nine mths shr 50 cts vs 51 cts net 3899000 vs 3821000 revs 1237 mln 1046 mln avg shrs 7808000 vs 7491000
west malaysian net exports are therefore expected to drop 500000 tonnes to 254 mln during jan sept while those of east malaysia are likely to decline by 10 pct to 280000 tonnes
there are countries such as our own whose sales possibilities are close to or above 100 pct of their current quotas escalante said
american realty arb sets record date for offer
this acquisition will give it all rights to proprietary solid and liquid ink technologies which had been developed by a joint venture operated by it and exxon corp xon dataproducts said
funaro said on saturday in washington that brazil would not have suspended payment on its debt if it had received more and faster financing from international agencies
the central bank was supporting the dollar against the yen amid heavy selling pressure from investment trusts and securities houses which had pushed the dollar as low as 14475 yen earlier this morning they said
alcan said it has developed and tested the aluminum structure technology so that it is suitable for modern auto making methods and plants
the national bank therefore last may abolished all remaining restrictions on maturities and denominations which still formally divided them
terms of the proposed transaction were not disclosed
he told an improvement in the economic climate and less competition from the european community should lead in the gulf area to higher beef sales which dropped from 33000 tonnes in 1980 to just 2300 tonnes last year
as banks checking account liabilities rise so do the reserves that they are required to hold on deposit at the fed
the rainbow merger involves shareholders in both rainbow and progressive being issued shares in a new company astral pacific corp ltd on a one for one basis
south korea ran a trade surplus of 73 billion dlrs with washington in 1986 sharply up from 43 billion in 1985
around 300000 tonnes were exported to china between july 1986 and february this year
qtly div 15 cts vs 15 cts previously pay may 29 record may eight
japans liberal democratic party ldp has drawn up a detailed plan calling for large tax cuts and an increase in government purchases of foreign goods the head of the committee working out the plan junichiro koizumi said
the gabelli group said it sold 216049 gencorp common shares between march 20 and 30 at prices ranging from 10875 to 11475 dlrs a share
last year dart group owner of auto trak inc and crown books competed against kohlberg kravis to acquire safeway stores inc
it said its accountants are investigating the problem which will delay release of its full year results
retail sales will tell us whether or not we will be able to fill the gap gibbs said referring to a chart gap in june bonds between 100 26 32 and 101 3 32 created friday
boone pickens in january diamond shamrock said it would spinoff its refining and marketing operation into diamond shamrock refining and marketing co before its april 30 annual meeting
german government needs seen raising bond yields
non refundable for 10 years the issue is rated aa 3 by moodys and aa minus by s and p
private exporters concluded advance weekly sales for 48062 tonnes against 22086 tonnes the previous week
weizsaecker arrived for a four day visit opening a latin american tour which includes bolivia and guatemala
cra said it held forward contracts at year end to buy 985 mln us dlrs to hedge part of its foreign debt
the peanuts were from the southwest area and were sold at between 805 cts per lb total kernel content and 117225 cts per lb the department said
the bank official noted m 3 which includes m 1 money supply plus savings time deposits and deposit substitutes
the crude oils are from edmonton swann hills
officials said sri lankas budget deficit this year is expected to surpass the projected 287 billion rupees while defence spending already up by two billion rupees from a targetted 10 billion is also likely grow
texas air corp said under a settlement of class action litigation with mutual shares corp former minority shareholders of continental airlines inc will receive an additional 375 dlrs per share
armcos steelmaking operations are profitable the balance sheet has been improved and its oilfield equipment business has been slimmed and put in a joint venture with usx bradford noted
eurodollar deposit rates were steady from this morning with six month funds unchanged at midpoint 6 11 16 pct
the number of people actually receiving benefits under regular state programs totaled 2436000 in the week ended march 21 the latest period for which that figure was available
the economy was now on a modest growth upswing boosted by export and import replacement industries which had created a false suggestion that the worst adjustments to the balance of payments crisis were past
brazil which would have had its quota reduced under the group of eight scheme blocked the proposal
the borrower is the wholesale financing arm of a major group of credit unions in the province of quebec
a manageable debt maturity schedule for the next few years mitigates concern over coastals capital structure s p said
the stocks have run an incredible way cohen said
1986 operating net loss also excludes extraordinary charges of 14 cts in the quarter and 54 cts in the year
the bank said two loans will support jamaicas structural adjustment program a 40 mln dlr loan for the trade and financial sector and a 20 mln dlr loan for the public enterprise sector
milton roy co mrc sets regular dividend
mason best which belongs to cni parnters a texas partnership would not tender any of its stake under the plan but would instead buy another one mln comdata common shares and would get representation on the companys board
mwape said told businessmen the question which should be asked and answered when designing programmes is who is going to bear the brunt of adjustment and what cushion is available to minimise the burden zambia has had five imf adjustment programmes since 1976 the last of which was cancelled in february last year he said
there would be little to gain and in fact it would probably be detrimental venezuela agreed with its bank advisory committee on a 145 year rescheduling of 203 billion dlrs in public sector foreign debt with an interest rate 7 8 pct over libor
banque francaise du commerce exterieur bfce is issuing a 17 billion yen eurobond due may 11 1992 with a 4 3 8 pct coupon and priced at 102 3 8 pct lead manager nippon credit international ltd said
the farmers daily said a peasant in the ortheast province of heilongjiang could gross 108 yuan from one mu 00667 hectares of soybeans and 112 yuan from one mu of corn but only 70 from one mu of sugarbeet
neither side optimistic on rotterdam port issues
it said in a statement the stabilisation of crude oil prices and the organisation of petroleum exporting countries efforts to achieve further firming of the price led to growing inflationary pressures in the us the worlds biggest crude oil producer
harrowsmith an alternative life style magazine is canadas seventh largest paid circulation english language magazine while equinox is the countrys eighth largest
the teams report to the government praises last years spending cuts which are due to reduce 1987 government spending by 195 billion francs and says 1986 saw the belgian economy perform better on a broader basis than at any time so far in the 1980s however it adds that with lower inflation stabilisation of the debt to gross national product ratio requires a much lower budget deficit than the seven pct of gnp target the government has set itself for 1989
kansas city southern industries inc said it is ready to promptly purchase the southern pacific transportation co from santa fe southern pacific corp sfx if the interstate commerce commission rejects sante fes attempt to reopen the merger of southern and the atchison tokepa and santa fe railway
he said the market could come down to test the 16 dlr a barrel level again but the main thrust of investing in oil is positive right now
the loan is for 14 years including 3 1 2 years of grace and carries a variable interest rate currently 792 pct linked to the banks cost of borrowing
in addition the company said it will recieve a special dividend of 60 mln dlrs from nutone and yale and it has agreed to buy 35 mln dlrs of valor convertible preference shares
latin american officials are also concerned that varying interest spreads granted to different debtor nations could generate discord as with the philippines recent protest at being given less favourable terms than argentina
united telecom ut reports us sprint loss
john spika said the number of people who have developed the chloramphenicol resistant infection in los angeles county alone jumped from 69 in 1984 to 298 the following year
escalante told a news conference here he carried the weight of the negotiations at the meeting by calling for larger export quotas for the smaller coffee growing nations
moodys said the companys prospects for improvement are limited by increasing competition in the food service industry and decreasing demand for the vending services that allegheny provides
supermarkets general sgl gets unsolicited bid
news of the release produced an early downward reaction in local physical markets but by midday some sections had halved early two stg losses while others were unchanged
brazils moratorium on commercial debt becomes critical by end may when payments would be 90 days overdue obliging us regulators to downgrade brazilian debt financial sources said
treasury balances at the federal reserve fell on march 27 to 2424 billion dlrs from 2508 billion dlrs on the previous business day the treasury said in its latest budget statement
in the toughest ever proposals for the annual price review at which ec ministers set the levels of subsidies agriculture commissioner frans andriessen has included measures that could result in price cuts for some products of up to 11 pct
three equity linked dollar denominated deals were offered the largest of which was a 200 mln dlr offering by sekisui chemical co and guaranteed by sanwa bank ltd
rambaud said the company would pay a 1986 dividend of 525 francs unchanged on 1985
but the dot said it would not wait
traders also expect arab national bank to step up london operations
shr loss one cnt vs profit one cnt net loss 35000 vs profit 42000 revs 881000 vs 13 mln year shr profit seven cts vs profit nine cts net profit 291000 vs profit 366000 revs 44 mln vs 59 mln note1985 4th qtr and year includes gain of 7000 dlrs and 147000 dlrs respectivley
shr profit two cts vs loss 20 cts net profit 156000 vs loss 1816000 revs 8751000 vs 7123000
wilhelm christians called last week for an enlargement of current capital market instruments to include instruments already standard abroad
vornado inc vno 4th qtr jan 31 net
anacomp reported net of 28 mln dlrs or nine cts a share in its first qtr ended december 31 up from 301000 dlrs or one ct a share
in january m0 fell by an adjusted 06 pct and rose by a non adjusted 41 pct year on year
previously the department said the third quarter deficit was 3628 billion dlrs
his disclosure of two of the key targets for sterling was highly unusual foreign exchange market analysts said
no one would benefit if after years of over valuation the us dollar fell into the other extreme that is strong under valuation he said
measurex corp mx 1st qtr net
bank of france cuts intervention rate
shr 15 cts vs 15 cts prior qtr pay may 18 record april 27
he said the us economy should expand by nearly three pct during 1987 aided by higher exports to europe and canada
in this era of financial liberalisation its almost impossible to control the flow of capital in and out of japan said another senior bank official
chemlawn corp said it is talking with new suitors about being acquired
coastal spokesman jim bailey confirmed the company which is an unsecured creditor of transamerican would present its own reorganisation plan to the bankruptcy court
proceeds from the sale would likely be invested in pacific lightings new specialty retailing line of business and its oil and gas operations the company said
the esso italiana refineries at augusta and siracusa will not be closing this spring a spokesman for the company said
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
mtech corp said it expects to file shortly for an offering of subordinated debentures convertibe into common stock
pakistans exports under the agreement will include raw cotton cotton products cotton textiles steel products molasses naphtha and fresh and dried fruits
both increases are effective april 1 1987
the company said in its annual report that its nonpharmaceutical business will play a major role in meeting its earnings growth target and will in fact grow faster than its pharmaceutical business
today the company reported first quarter earnings of 206 mln dlrs on sales of 2380 mln dlrs up from earnings of 161 mln dlrs on sales of 1888 mln dlrs
the official said taiwans trade surplus is expected to climb to 428 billion us dlrs in the second quarter of 1987 from 381 billion a year earlier
csrs bid for the 6826 pct of pioneers 9980 mln issued shares it does not already hold values the entire grop_j9culd make an alternative share offer but has not yet announced terms
under federal law it cannot buy more than 15 pct of comdatas stock until a 15 to 30 day waiting period is over unless the ftc gives it early approval
us bank paper under light pressure in market
moodys investors service inc rates the securities aa 3 and standard and poors corp rates them aa
but earnings from currency dealing were still satisfactory he told a news conference
however the call will not be before 1992
us treasury selling 17 billion dlrs of 9 day and 20 day cash management bills on april 2
the ministry of international trade and industry will ask japanese computer microchip makers to further slash output in the second quarter in an effort to save its semiconductor pact with the united states miti officials said
period ended february 28 shr loss 11 cts vs loss 11 cts net loss 1309000 vs loss 937000 revs 5271000 vs 4417000 avg shrs 11690000 vs 8724000
it described the purchaser as a subsidiary of a company in the communications field which is one of the 100 largest us corporations
us officials said both schemes are regarded by the administration as providing debt relief
it said the record date for the distribution will be delayed until the claims are resolved
allied signal incs 497 pct owned union texas petroleum co affiliate said it has restated its fourth quarter and full year losses and revenues to increase the provision for the proposed settlement of a price dispute involving indonesian liquefied natural gas
the statement by huckaby who as a representative from a sugar growing district in louisiana is a leading architect of the current sugar program indicates at least some grower officials are concerned enough to support an easing of the import quota industry officials said
world bank says s
its puchases from the united states include electronic testing equipment and grains and cotton
the communique said japan affirmed its intention to open domestic markets to foreign goods and services but did not elaborate
tomorrows surplus is attributable to government tax allocations to local governments and public entities
even aggressive foreign investors have stopped investing in yen said masaki shimazu manager of daiwas bond department
shr profit eight cts vs loss 23 cts net profit 251000 vs loss 731000 revs 291 mln vs 259 mln backlog 189 mln vs 125 mln
japanese securities houses have asked the finance ministry again to consider introducing auctions of 10 year government bonds securities sources said
union said it is no longer bound by the agreement and is continuing to seek a buyer for the interest
the bundesbank said in its february report that it was wrong to believe that the first stage of the tax reform in 1986 could be managed without increasing deficits
altron said the acquisition was key to making fintech an office systems company
santa fe southern pacific owns the santa fe railroad and holds the southern pacific railroad assets in trust while awaiting federal approval of the merger plan
giant food inc gfsa 4th qtr feb 28 net
despite remaining differences delegates remained confident a buffer stock accord would be agreed to by friday when the council session ends but certain technical points need further clarification the delegates said
while no firm figures exist dealers in eurobonds estimate that 80 pct of all new issues are involved in some swap arrangement
1985 year net includes pretax gain 7400000 dlrs from termination of pension plan
healthy consumer credit growth record fee based income highly profitable securities and foreign exchange trading and a solid capital position combined with the restraint of non interest expenses should lead to improved results in the periods ahead chairman allan taylor said in a statement
assuming a 90 pct acceptance of the offer michigans annual cash interest requirements will be reduced by about 106 mln dlrs it said
the debentures are convertible into the companys common stock at 6350 dlrs per share representing a premium of 181 pct over the stock price when terms on the debt were set
piedmont also received an offer from norfolk southern corp nsc of 65 dlrs cash per share
soviet union features in uk grain exports
kato added japan is the largest customer for us grain and depended on domestic output for only 53 pct of its food requirements in 1985
uniforce temporary personnel inc unfr 4th qtr
british printing alleges the effect will be an enormous increase effective on the june eight record date for the dividend in the number of harcourt common shares issuable upon conversion of the debentures
shipments to mexico fell 19 pct to 19 billion marks and to colombia by 15 pct to 600 mln marks mittendorf said
ibp is a subsidiary of occidental petroleum corp
however it is likely that some weather damaged grain was still being held on farms and further milling and feed wheat may be delivered following the recent announcement of the final guaranteed minimum price for 1986 87 he said
group profit after financial income and expenses 731 mln crowns vs 651 mln sales 1015 billion crowns vs 1005 billion profit per share after full taxes 3180 crowns vs 30 crowns proposed dividend 11 crowns vs 10 crowns
the company said cook and anderson will form a new company with the sale called amtech holdings inc
the department said lead and zinc prices fell while hardwood lumber and cement cost more
but he said the company which is taiwans largest shipbuilder still has full government support and had begun diversifying into ship repairing and manufacture of pipes and other machinery
america west would retain the right of first refusal if ansett offered any of the shares for sale
it added that the lawsuit will not affect the negotiations on the merger transaction with bristol meyers co bmy announced monday
new york investor julian robertson and several investment partnerships he controls said they raised their stake in capital wire and cable corp to 481800 shares or 122 pct of the total from 430200 or 109 pct
harper and row hpr to mull options after bids
i believe that takeovers have become so abusive and so tilted in favor of the financial buccaneers that remedial action is required usx corp chairman david roderick said
cis technologies inc said that it and the swiss reinsurance co of zurich switzerland agreed to a second extension of two dates for the final part of their share purchase agreement
federal funds were trading at 7 1 8 pct down from yesterdays average of 761 pct
they estimated that the bulk of liquidity was added at about 395 pct
the three locals represent about 2600 production and maintenance workers while the remaining two locals cover about 600 office and technical workers
shr nil vs nil net 18534 vcs 27431 revs 270032 vs 188326 avg shrs 6598871 vs 6090576 year shr nil vs nil net 47299 vs 21570 revs 1004392 vs 677909 avg shrs 6618063 vs 5931324 note share adjusted for one for 11 reverse split
pat roberts of kansas that the administration would soon offer export enhancement wheat to the soviet union lyng said well it wont be today and then added we have no official comment one way or the other lyng would not comment on whether a wheat subsidy offer to the ussr is under more active consideration at the usda saying that any remarks by him would be tantamount to an official announcement and could be construed inappropriately
japan given little hope of avoiding us sanctions
iep lifts ultramar and ogelbay norton stakes
banking sources here said only an escalation of south african political unrest would increase foreign pressure on repayments
it said the mine has an annual output capacity of three mln tonnes of sulphur iron ore which can be used without processing because of its high quality
azpurua recently visited tokyo hoping to acquire new credits for industrial expansions but clinched no agreements
last year sugar exports totalled 149755 tonnes
shr 142 dlrs vs 116 dlrs net 155 billion vs 131 billlion revs 250 billion vs 2556 billion note full name is american telephone and telegraph co
commerce secretary malcolm baldrige said the united states will not stand idly by and let japan dominate the world electronics market
trump agreed not to buy any more bally stock or to try to seek control of the company for 10 years it said
warburg pincus capital co lp an investment partnership said it told representatives of symbion inc it would not increase the 350 dlr per share cash price it has offered for the company
after losing ground heavily in the far east in tandem with the flagging dollar us bonds fell further in london trading but showed some signs of recovery late in the us morning as the dollar steadied a little against the yen
the committee said the legislation will cut government red tape and make it easier for us companies to compete with foreign producers since many of the goods are readily available from other countries
the company did not disclose the details of the revised offers but said a special committee of its board would review them later today
but long haul voyages are expensive as the product has to be shipped at a temperature of minus 103 degrees centigrade to keep it in a liquid form they said
proceeds will be used mainly for the acquisition of additional woods products manufacturing facilities and related properties wtd said
orange said the purchase price will consist of 19 mln dlrs in cash and 10 pct redeemable preferred 10 pct of hcs common equity and the right for it to prospectively receive 20 pct of certain royalties under a proposed licensing program
asked about such criticism lyng said the alternative to doing that is to say that we preserve them and maintain them
in its annual report mobil said that this will include greater emphasis on frontier plays that although riskier fit our strengths of technology and size this probably also means a shift toward emphasis in the foreign area since selective overseas exploration offers greater potential
in addition broken hill associated smelters port pirie south australia smelter is halting production for five weeks for maintenance
the march 30 sale to be evenly divided between the three and six month issues will result in a paydown of 12 billion dlrs as maturing bills total 1399 billion dlrs
but if the ship could not be salvaged the claims would total at least 30 mln stg
iranian foreign minister ali akbar velayati here on a two day official visit informed cuban foreign ministry officials on monday on the tense situation in the gulf diplomatic sources said
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
the soviet unions winter grain crop is likely to have suffered losses due to dry planting conditions last fall and severe cold this winter an analyst of world weather and crop conditions said
treasury secretary baker declines comment on g 6
company also said it will increase dividend on post split shares to six cts from five cts
peoples heritage bank said it has agreed to purchase northeast leasing co inc a portland maine lessor of office equipment for about 43000 common shares
the company said it believes it can meet conditions imposed by the nasd for the exception but there can be no assurance that it will do so
todays one billion stg tap issue was viewed by the market as a move by the bank to eradicate hopes for a further early rate cut which might arise as a result of strong sterling
the company earlier declared total dividends equal to 15 cents a share for 1986 adjusting for the stock split and bonus issue
in anticipation of legislative changes that take effect in 1989 security pacific has also negotiated the future purchase of the nevada bank with assets of 615 mln dlrs
the ban will affect products such as uncanned meat milk ham butter and bacon bopa reported
the market undertook speculative dollar selling by reacting to overseas comments by monetary authorities and trade tension he said
jones and vining said vulcan corp offers five dlrs a share for jones
an estimated 300000 tonnes of oil will thus be obtained from fields in angola over the next 15 years tanjug said
warburg already owns about 26 pct of symbion
general partners is equally owned by investors wagner and brown and glass maker afg industries inc
the figures showed exports were 385 billion marks in january sharply down from decembers 440 billion and the lowest since the 356 billion exported to the us in july 1984
anz bank in nz raises indicator lending rate
the transcanada offer has quite a bit of upside potential for dome he said
this is just a one shot spending and we cant expect that high level of public sector consumption in the following quarter takahashi said
the decline in parent company turnover was balanced out by increased capacity use and price declines in raw materials
the dividend is payable april 27 to shareholders of record april 7
malaysia re imposes export duties on rubber
the agreement will allow the cars to be designated as domestically manufactured rather than imported vehicles nissan said
asked if the bank of japan will consider a further cut in its discount rate he said he now thinks the bank will have to carefully consider its future money policy
pay date is april 7
merlin also has a 125 pct stake in the adjacent papuan basin permit ppl 18 which contains the juha gas and condensate discovery
volcker says brazil debt move will not hurt banks
a spokesman for a group of united airlines employees who oppose the attempted takeover of united by the airline pilots association said he met with the new chairman of allegis frank olson
bank of japan calls for long term efforts on trade
but they added washington set the stakes high by testing the limits of the louvre accord while global stock markets were plunging
he said japanese negotiators last week told us officials they were honoring the pact but yeutter said it would take time to monitor any compliance
only 11 of these 37 super giant fields lie outside the middle east and only five of the 37 have been discovered in the last 20 years three of them in the middle east he said
omer said it will be difficult if not impossible for sudan to pay a scheduled 417 billion dlrs in principal and interest payments over the next five years
rep
minas de almaden raises mercury price
two weeks ago the cme board of directors proposed barring brokers on the top step of the pit from trading for their own account
grain certificate redemptions put at 240 mln bu
nu med inc nums 3rd qtr jan 31 net
mellon mel republic rpt lift prime rates
the company said it lost 22 mln dlrs from operations in 1986 against a loss of 672 mln dlrs a year ago
transport development group plc tdgll 1986 year
the february surplus compared with a deficit of 1578 billion lire in the same month for 1986
ecuador was forced to suspend exports after the pipeline connecting its jungle oil fields with the pacific port of balao was put out of action
financing from the compensatory facility is meant to offset losses in export earnings and does not carry the same conditions attached to other imf loans
in january producer prices rose 02 pct from december the first monthly rise since october 1985 but they were down 44 pct from a year earlier
the commerce department said this week that the economy grew by a robust 48 pct annual rate in the first quarter but a us monetary official called it a weak report
islamic bank makes 123 mln dlrs of loans
1986 net both periods includes 5642000 dlr pretax gain on sale of branches
they were not simply pledges to maintain currency stability but also to conduct a certain type of economic and monetary policy he added
bids awarded for elk hills crude oil
recent acquisitions in north america had strengthened lucas aerospace and lucas industrial systems
he said the main objective was to raise exports outside the oil and natural gas sector
ecuador was not in the market and catches are said to be poor
moodys said the companys healthy cash flows along with outside financings will be used to fund this growth
the 54 pct cumulative redeemable convertible series d preferred shares will be flow through shares entitling holders to tax deductions not claimed by the company
feed prices at the end of january were reported 35 to 40 pct above year ago levels the department said
japans beef import quota in 1987 88 was set at 93000 tonnes against 85000 for the same period in 1986 87
ours is beginning to emerge and no agreement among producers is foreseeable in the immediate future he told journalists
bilfinger und berger sees output falling in 1987
barker trust said they bought the stock for two mln dlrs soley for investment purposes
canbra foods ltd year oper shr profit 152 dlrs vs loss 55 cts
austria does not intervene to support dollar
stressing there was no binding time schedule for brazils debt problem to be resolved funaro said brazil had not come to europe with specific proposals to overcome the present crisis
the paris club is demanding repayment but poland needs new credits and has made certain supplementary proposals but it is up to the club to show an initiative one of the diplomatic sources said without elaborating
pickens who is currently touring the country promoting his autobiography boone said he does not believe the us should impose an oil import fee in order to stimulate the domestic oil industry
the new proposal would be subject to approval by the supermarkets general board it said
venezuela will shortly announce a new plan to allow private companies to repay their foreign debts with equity and for public debt to be converted into private sector investments cntral bank president hernan anzola said
chile china to establish peking copper plant
pakistans consumer price index base 1975 76 fell to 23193 in january 1987 from 23326 in december 1986 and compared with 22366 a year ago the federal bureau of statistics said
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
the companys exploration partnership received an average price of 184 dlrs per mln cubic feet for gas sales during 1986 down from 304 dlrs in 1985
enfield said it would use proceeds to retire short term bank debt and boost its 22 pct stake in consumers packaging inc and its interest in federal pioneer ltd through open market purchases
great universal stores plc gusl said it has made an agreed offer for pantherella plc valuing the company at 82 mln stg and each pantherella ordinary share at 205 pence
brazils state oil company petrobras has cancelled a 40 mln dlr crude oil purchase from saudi arabia after the saudis refused to accept credit guarantees from the bank of brazil and did not disclose reasons a petrobras official said
endotronics said the notice from its accountants stated we cannot satisfy ourselves as to the true facts of the situation to a degree necessary to continue to be associated with such consolidated financial statements endotronics recently reported that it was reviewing the need to establish a reserve for all or a portion of approximately 3686000 dlrs in overdue accounts receivable and to assess the impact if any on prior period financial statements in light of a dispute with one of its japanese distributors over payment of the overdue accounts
computer associates international incs 800 mln dlr merger with uccel corp uce will eliminate its strongest rival but the company still faces stiff competition from international business machines corp ibm wall street analysts said
zambia imf talks hit problems over food subsidies
crazy eddie said it will hold its annual shareholders meeting on november 6
this gave hawaiian telephone a strengthened capital structure and cash flow in both regulated and non regulated businesses
japan must now be especially careful about a flare up in inflation with money supply growth accelerating he said
city of quebec issues 40 mln canadian dlr eurobond
but cato chairman william niskanen added the two nations generally harmonious trade relations are probably not sustainable without a new agreement the united states and canada whose cross border trade totaled about 125 billion dlrs last year have been holding talks since last june on a pact to end the few trade barriers remaining between their two countries
dresser industries inc to sell reliance standard life insurance to rosenkranz unit
the liberalization of west german capital markets in may 1985 led to a flood of financial innovations but the lack of a secondary market for these has diminished their acceptance deutsche girozentrale deutsche kommunalbank management board member wiegand hennicke said
qtly div 11 cts vs 11 cts prior pay april 14 record march 17
kenya devalues shilling by 06 pct against sdr
the statement said westlb internationals business with private customers showed a pleasing expansion last year
the latest trade figures show norwegian imports from south africa dropped 36 pct to 160 mln crowns during the first eight months of 1986 while exports plunged 52 pct to 265 mln crowns from the year ago figure
a spokesman for the governor said nothing will be decided today but said the governor will evaluate later whether to call a special session in the next few days
rifai dismissed the view of some bankers and economists here that the dinar which is pegged to a basket of currencies is overvalued
in a filing with the securities and exchange commission lee said he bought 7000 penobscot common shares between feb 12 and march 2 at prices ranging from 1375 to 1625 dlrs a share
in fact he said theres a chance those banks could get more involved in the future
iraq is the main supplier with 235000 bpd
under the accord reached following us complaints about the impact on its agricultural exports of spanish ec membership the ec will import two mln tonnes of maize and 300000 tonnes of sorghum a year up to end of 1990
holders of fewer than 455 southmark shares who would receive rights to acquire fewer than 100 american realty shares will be paid cash in lieu of the rights distribution the company said
french institute pessimistic on 1987 growth
gaf currently carries ba 2 sinking fund debentures and b 1 senior subordinated notes and debentures
a similar bill has been introducted this year in a congress with a bigger democratic majority and with a president weakened by the iran scandal
since 1982 all official agencies have been closed to my country he said
in a filing with the securities and exchange commission harris said it sold 87350 cyclops common shares between jan 6 and march 2 at prices ranging from 6575 to 9100 dlrs a share
but the parent bank would have to give a formal undertaking to take over the exposure if problems were to occur and state in writing that the exposure was retained in the subsidiarys balance sheet to meet precise group objectives the paper said
it also failed to secure soyoil for the same reason they said
we hope the new office might help gunther schulz adb vice president in charge of projects said
available seat miles rose 291 pct in march to 4642 mln from 3595 mln and 368 pct in the three months to 133 billion from 9709 mln
electric power prices fell 03 pct last month after a 13 pct january decline and were down 36 pct from a year ago
the adelaide steamship co ltd adsas first half
feds johnson says dollar stabilized after fed took appropriate action
williams wmb has 4th qtr charge
jacques delors president of the european communitys executive commission called last month for control to go to west germanys siemens ag in order to strengthen european industry
sporadic business was noted in the second hand which offered kenya coffee for may june shipment up to 25 dlrs below origin levels
corrected insituform of north america inc insua 
the political climate meant there would be a continued over reliance on monetary policy to hold the exchange rate and maintain confidence in economic management anz said
magma copper co a subsidiary of newmont mining corp said it is raising its copper cathode price by 025 cent to 6575 cents a lb effective immediately
increased borrowings after the recent 320 mln dlr acquisition of the hsv seven television station in melbourne will hit earnings but networking with the channel sevens in sydney and brisbane will produce some offsetting cost savings
they gave no detailed breakdown
simon said standards board was informed of the offer on march nine and has been considering it since that time
proceeds from the sale combined with the sale of the companys remaining coal assets should result in full recovery of its investments in the operations the company said without further elaborating
the bonds will be due march 1 1990 and are priced at 999375 pct to yield 686 pct
dotronix dotxo completes acquisition
interconnect prefers friendly gates glj offer
among other items in the document the bank said its first auction will consist of up to 125 billion stg in conventional short dated stock and have a maturity of seven years or less
it may slow the pace of japanese acquisitions but the necessity of expanding their production and design capacity in america remains said capels murtha
ec meat directive deadline seen flexible
union shippers agree to cut ny port costs
net profit before minorities 56 mln vs 521 mln
bayou ltd is 552 pct owned by australia wide industries ltd
for the full year ended december 31 fleet a rhode island based bank holding company reported net income of 1367 mln dlrs and assets of 117 billion dlrs
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
oteiba said last year when world oil prices dropped was adnocs most difficult ever but a practical and flexible pricing policy was implemented to relate to the changed market environment he said crude oil sales last year jumped to an average 609000 bpd of which 73 pct was exported
both the split and the dividend are payable april 30 to holders of record march 31
the company said that no optional redemption may be made prior to april 1 1992 with or in anticipation of borrowed funds or senior or parity stock having an effective cost of less than 738 pct per annum
a combination of both systems would enable the bank to benefit from both the flexibility offered by traditional marketing methods and the guarantee of a steady supply of funds implied by auctions
gains were most pronounced on the commodity exchange in new york where gold jumped 1240 dlrs and closed at 43650 dlrs a troy ounce and silver 225 cents to 686 dlrs a troy ounce
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
for the first two months of 1987 the balance of payments showed a surplus of 302 billion lire against a deficit of 4622 billion in the same 1986 period
manufacturers hanover corp mhc 3rd qtr net
issues comprised three bonds including two fixed interest bonds totaling 700 mln marks and one equity warrant bond totaling 200 mln marks
president reagan said the united states must do more to lessen its reliance on imported oil
the proposal provides that reph would become a wholly owned subsidiary of alpha and that the existing reph common stockholders would become stockholders of alpha it said
japan has withdrawn its objection and decided to accept the release of the study the agriculture ministry officials said
ministry spokesman leonardo brito speaking from brasilia told he believed that about five mln tonnes of this years estimated crop of 65 mln tonnes would be lost
harris associates lp a chicago investment advisor said it raised its stake in builders transport inc to the equivalent of 466754 shares or 91 pct of the total outstanding from 335800 shares or 67 pct
japan said it understood why the us attacked an iranian oil platform on monday
manhattan national said about three mln dlrs of the invested funds will be used to repay short term debt and two mln dlrs has been earmarked for other short term needs
society for savings bancorp inc socso 3rd qtr hartford conn oct 19 shr 75 cts vs 55 cts net 8031000 vs 5819000 nine mths shr 216 dlrs vs 142 dlrs net 232 mln vs 151 mln
paranagua one two ports spanish med 35000 mt hss 1150 dlrs basis one to one 10 days all purposes 20 30 4
pacific basin to acquire 51 pct of team 
zim energy corp said it has entered into an agreement for a group consisting of strategy and development inc norsk vikingolje a s of oslo and mis gas corp which already owns one third of zim to buy 15 to 20 mln new common shares at 20 cts each in association with polo energy corp and jaguar petroleum corp the company said the investor group also bought about 63 mln shares from zim management
calmar inc said keboo ab of sweden which now owns about 64 pct of calmark has approved the acquisition of remaining calmar shares at 25375 dlrs in cash at the request of the calmar board
bankers said the governments efforts to stabilise the foreign exchange market were a prelude to lifting all curbs on capital outflows
zhao said china should work to provide a more favourable investment environment for foreign businessmen
panteras also said it retained drexel burnham lambert inc to act as its financial advisor in connection with the merger
s p may downgrade chrysler c 
bally recently completed a 439 mln dlrs acquisition of the golden nugget casino hotel in atlantic city from golden nugget inc gngn the purchase pushed its long term debt to 16 billion dlrs or almost 27 times its equity of 600 mln dlrs
he also urged greater involvement of trade ministers to ensure the success of the uruguay round
proceeds of the continuous offering of the medium term cd notes will be used for general funding purposes of the new york bank
icahn was unavailable for comment
indonesias debt totals 37 billion dlrs
sri lankan food department officials said the us department of agriculture rejected a us firms offer of 80 us dlrs per tonne caf to supply 52500 tonnes of soft wheat to colombo from the pacific northwest
in yen futures the bottom of the dollars range would be equivalent to 0007100 to 0007150 in the june contract
finlands business group amer yhtyma oy yhtyhe said it has signed a 50 mln dlr six year syndicated multicurrency loan with a group of 15 international and four finnish banks led by citicorp investment bank ltd
bankers said that it was hoped that the ecgd would resume cover fairly soon as this could encourage other official creditors to begin bi lateral talks as well
the oecd said japans gross national product was likely to gorw an annual two pct in 1987 and 1988 below 1986s 25 pct growth
this practice was stopped in 1986 when the central government resumed control of imports
valley national corp vncpo 1st qtr net
polish farm prices and costs to rise from july
i really think we have to change the old rules asked why brazil was first approaching governments rather than the commercial banks themselves in its search for a solution to the crisis funaro said we must first talk to the governments and then we can talk to the banks because the banks have some limits it is a political discussion from our point of view he said
taylor said loans to the energy sector continue to substantially hurt earnings while 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
the central bank purchased in band one 20 mln stg at 9 7 8 pct in band two 254 mln at 9 13 16 pct in band three 66 mln at 9 3 4 pct and in band four seven mln stg at 9 11 16 pct
new jersey based overnight messenger purolator courier corp said it has agreed to be acquired for about 265 mln dlrs by a company formed by ef hutton lbo inc and certain managers of purolators us courier business
there were some price declines including a 34 pct fall for passenger cars and 13 pct for light trucks from january levels
in addition to attar the nominees are stephen l
one purpose of the meeting is to consider the transaction the company explained
he said some paris club members had agreed to disregard penalty interest payments and negotiations were continuing with argentina and brazil who hold 700 mln dlrs of bolivian debt
latin caribbean nations oppose trade bills
in a letter this weekend from chancellor helmut kohl to ec executive commission president jacques delors kohl made clear such a dismantling would mainly hit west german farmers
we were quite satisfied with the agreement in paris otherwise we would not have been a party too it he said
the 1986 audited figure is eight mln dlrs higher than the unaudited figure the company reported on jan 27
i dont think that the agriculture secretary said a us wheat subsidy deal to moscow would not be the kind of topic appropriate for discussion at a summit
parker drilling said it has been paying a quarterly dividend of one ct a share of common stock
gordon investment corp said it plans to make an offer to acquire all of pagecorp incs class a and class b shares for 925 dlrs cash per share
in tokyo one oil analyst said theres no reason to expect a weak market from now on a japanese oil trader also based in tokyo said we thought opec would have difficulty agreeing on fourth quarter production so the market will react very bullishly traders in singapore said that while there has been only a slight increase so far in spot quotes for dubai a benchmark crude they expect price increases over the next few days
he noted that morgan has already set up a brokerage subsidiary to deal in loans to less developed countries
and as west germany last year refused to give in pressure from several ec partners and the united states to cut interest rates to slow the marks rise the ems had to be realigned twice to ease financial and trade strains within the community
lomas and nettleton lnf to make acquisition
additionally a new formula will be used for calculating the aid element in mixed credits to take account of different interest rates in the exporting countries the 24 nation oecd which hosted the reform negotiations said
british chancellor of the exchequer nigel lawson said he saw no immediate implications for british monetary policy arising from the group of seven meeting yesterday
earlier today armand guilbaud president of totals refining and distribution subsidiary cie de raffinage distribution crd total france raffpa told journalists that 1986 had marked a return to profit for the subsidiary before stock depreciation
interest will be payable may 15 record may one
du pont overseas capital nv a unit of du pont co said it will redeem on may 15 all 189 mln dlrs of its outstanding 13 3 4 pct guaranteed retractable notes due 1997
1st source bank said it completed its merger with community state bank of north liberty ind
it said it is obligated to deliver another 2741660 shares on the attainment of a certain level of shareholders equity during any fiscal quarter within 12 months of closing
despite the 4th qtr results rhodes said net income for the year just ended should come close to the record level of the previous year 161 dlrs dlrs a share
qtr ended april 30 shr profit one ct vs loss three cts net profit 146000 vs loss 203000 revs 2001000 vs 1493000 year shr profit four cts vs loss 13 cts net profit 445000 vs loss 827000 revs 7135000 vs 5237000 note full name is precision target marketing inc
consolidated tvx to buy brazil gold mine stakes
polaroid corp prd 3rd qtr sept 27
proposed offerings recently filed with the sec
the company said president paul tregurtha has succeeded barker as chairman and chief executive officer of moore mccormack
on business employment lawson said employers will receive tax relief for retraining workers
harcourt hbj debentures may trigger suit
atlantis group tells sec it seeks negotiated purchase of charter crellin
japanese crushers bought 5000 tonnes of canadian rapeseed in export business overnight for late may early june shipment trade sources said
our failure to maintain the momentum will be at great cost to us all moore said
the lower sales were due to the fall in the dollar and other currencies against the mark
the financial services company said it also completed the previously reported 296 mln dlr private placement of 15 mln non voting preferred shares convertible one for one into non voting class a shares
the united arab emirates recorded a 1986 trade surplus of 122 billion dirhams narrowing from 302 billion in 1985 the central banks latest bulletin shows
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
in a filing with the securities and exchange commission the group said it bought 81200 suave shoe common shares in open market transactions between october 1 and 19 at 834 dlrs to 1007 dlrs a share
api said refinery runs in the week fell to 1217 mln barrels per day from a revised 1242 mln and refinery use of operating capacity was 781 pct off from a revised 797 pct
the rise in the fourth quarter of 1985 was probably a statistical anomaly that was repeated in the final months of 1986 the official said
patrick petroleum co said it signed a definitive agreement to buy bayou resources inc
shr profit nil vs profit nine cts net profit 2000 vs profit 195000 revs 2623000 vs 2577000 year shr loss 21 cts vs profit 13 cts net loss 425000 vs profit 278000 revs 154 mln vs 8637000 note net includes capital gains of 63000 vs 211000 for qtr and 304000 vs 292000 for year
usda grain inspection advisory committee meeting
nsa inc said in an attempt to go private and repurchase its shares it is offering to exchange a five year subordinated investment note for each share held by shareholders with more than 600 shares
pakistan had imported 600000 tonnes of edible oil since the beginning of the current financial year last july they added
massachusetts financial services co said it has set the final income and capital gain distributions for trust for thrift institutions high yield series of 1069 dlrs and 7645 dlrs respectively payable today
sales advanced to 153 billion dlrs from 146 billion dlrs
these were a five year 150 mln dlr deal launched by morgan guaranty ltd for saab scania at 7 3 4 pct priced at 101 3 4 pct
life of indiana corp lifi 4th qtr loss
stenholms bill is not a rejection of 0 92 only of the timing a congressional staff member said
federal industries sets commercial paper issue
the well was drilled by a group of japanese companies
the company said it will distribute the split on may 5 to shareholders of record april 20
commerce then will process the anti dumping order and transmit it to us customs which will liquidate bond entries dating from commerces preliminary ruling and begin assessing duties vastagh said
he said the debt situation was a major consideration
the left wingers said portugals positive economic results were more the product of favourable international conditions such as cheaper oil and raw material imports than of psd policies
some wall street sources said the financiers usx plan was impacted by the cloud hanging over his adviser drexel burnham lambert inc because of wall streets insider trading scandal
credit lyonnais australia is issuing a 40 mln australian dlr eurobond paying 14 1 2 pct and priced at 101 1 8 pct lead manager hambros bank ltd said
penney said the agreement also calls for beebas a major supplier of junior sportswear to work with penny in the establishment of junior specialty shops to be created in about 100 penney stores in early 1988
sales of 41800 tonnes of barley were 10 times the previous week and 10 pct greater than the four week average
about 300 other creditor banks also are expected to approve the agreement he said
ultramar said it had also included the estimated cost of a further reorganisation programme which was partly offset by a withdrawal of surplus funds from us pension schemes and a 135 mln stg provision for the estimated cost of selling its us flag shipping operation
shr 12 cts vs 10 cts net 1683000 vs 1407000 sales 422 mln vs 288 mln year shr 83 cts vs 70 cts net 11908000 vs 10005000 sales 1603 mln vs 1265 mln
iraq has rejected its quota but oil sources say it may be having problems marketing at official prices all the oil it wants to sell
eurotunnel to offer choice of investments
moodys cited an improved leverage position that will result from valeros sale of its valero natural gas subsidiary to valero natural gas partners lp the partial sale of units of that partnership to the public and the simultaneous sale of first mortgage bonds to institutional investors
us sets corn deficiency payment half pik certs
no quake damage at chuquicamata mine spokesman
related to this matter of trade imbalance the point that i found to be of great cause for alarm during this trip to europe was the excessive degree of hope placed by the europeans in the results of the maekawa report he said
the price was not disclosed
new jersey resources corp said it filed with the securities and exchange commission to offer 13 mln common shares through managing underwriters merrill lynch capital markets and ef hutton and co
japanese computer chip makers reacted angrily to news the united states plans to take retaliatory action against them for allegedly failing to live up to an agreement on trade in computer microchips
lamp said that excess debt due to its withdrawal from the texas marketplace has been the key factor to blocking further progress
a lower than expected brazilian crop may cut the 1986 87 world surplus to between 50000 and 70000 tonnes compared with a recent forecast by the icco statistics committee of 94000 tonnes traders said
it could find its true water mark with a lesser exposure to brokerage
engineering group linde ags lingf world group turnover rose to 5186 mln marks in the first two months of 1987 52 pct more than in the same 1986 period management board chairman hans meinhardt said
the company said the balance of cash in the trust will be used to satisfy all liabilities and obligations of the trust
the reduced month on month drop mainly stemmed from the recovery in world crude oil prices it said
wonnacott said also that a us canada pact in such areas as export subsidies and the creation of a dispute commission could set an example for the current attempt by gatt to write new and more liberal global trading regulations
the company said ciba geigy initially licensed the product in 1985
gulf canada goc asserts no damage from spill
we have to build the import competing sector back he said
hde president wolfgang hinrichs said retailers would be satisfied with a real turnover increase of between 25 pct to three pct in 1987 after last years steep 37 pct rise
shr loss 46 cts vs loss 51 cts net loss 109 mln vs loss 9782818 revs 201 mln vs 9437270 avg shrs 235 mln vs 193 mln 1st half shr loss 90 cts vs loss 111 dlrs net loss 206 mln vs 214 mln revs 389 mln vs 145 mln avg shrs 228 mln vs 192 mln
current year results include technicon corp acquired in august 1986
if indeed the reason dudley taft is no longer president is because the bass group tossed him out i couldnt see them backing him on any deal said one analyst who asked not to be identified
irving put 215 mln dlrs of brazilian and 33 mln dlrs of ecuadorean loans on non accrual reducing first quarter net income by a total of 44 mln dlrs after tax
tokyo is expected to propose a joint us japan investigation of american claims that japanese companies are dumping cut price chips in asian markets
he told the annual news conference that the move would be an important and necessary widening of business activities in the us this is now mainly represented by a 40 pct stake in europartners securities corp new york owned along with other european banks in a consortium
the group said it paid 114 mln dlrs for its 16 mln holiday shares 530000 of which were bought since feb
scott is not in the best interest of shareholders and it does not plan to meet with the individuals
this is going to take time they said the government would consider its options at a cabinet meeting on thursday but added that no final decisions were expected
the rescheduling covers public sector trade debts coming due between september 1986 and march 1988
spartech corp sptn 1st qtr jan 31 net
ambassador nobuo matsunaga made the recommendation at a meeting with nakasone kyodo news service said
mcdonalds corporation is issuing a 75 mln canadian dlr eurobond due may 14 1992 paying 8 1 2 pct and priced at 101 5 8 pct lead manager morgan guaranty ltd said
american trust had year end assets of over 40 mln dlrs
gold trading in tokyo is dominated mainly by japanese trading companies while credit suisse is the major foreign participant
dealers said the bank of france intervened to absorb liquidity to hold the rate at 7 3 4 pct
kuwait which has consistently denied quota violations was estimated to be pumping 14 mln bpd in february and 115 in early march both figures including 200000 bpd as its share of neutral zone output against its 948000 bpd quota
medical properties mpp sets monthly dividend
after an already steep fall in the past week us interest rate futures may be in for further declines in the near term financial analysts said
ic industries inc called for redemption 1136 mln dlrs worth of securities
amcor and nzfp said earlier today they were merging their pulp and paper interests in a joint partnership and were increasing their existing cross shareholdings
the company said the restatement also reflects a substantial increase in reserves of its principal subsidiary capitol bank and trust co
german industrial employment seen stagnating
it also put out an alternative policy statement by commissioner charles stalon
vista chemical vc sees year net higher
but us charges of unfair trade practices involving computer microchips leave europeans cold
greek prime minister andreas papandreou said today that the greek armed froces were ready to tackle any aggressors following the sailing of a turkish research vessel and warships towards disputed waters in the aegean sea
jim nugent told 
taiwan is scheduled to tender tonight for 450000 to 475000 tonnes us corn export sources said
kidston gold mines ltd attributed the rise in 1986 net profit to higher prices and an increase in gold sales to 237969 ounces from 206467 ounces in 1985
the treasury said non competitive bids will be accepted for all three issues
industrial production in the european community ec in january showed no growth compared with january 1986 the ec statistics office eurostat said in a report
he said sprints progress in such areas as revenues number of customers and construction was on track even ahead in many areas looking beyond the united states holland said sprint currently had direct access to 34 countries and aimed to be in 90 pct of the free world nations by 1988
no change in the british governments attitude is expected before the countrys next general elections due by mid 1988
risk provisions in 1987 were therefore unlikely to reach the same high level as in 1986
sumita has said in the past that he expects the economy to show a gradual upturn in the second half of the year
they also reported vague talk algeria may be seeking 50000 tonnes of raws tomorrow but details are unclear
six months to march 31 shr 1625p vs 1561p div 40p vs 35p turnover 612 billion vs 489 billion interest 252 mln vs 376 mln pretax profit 427 mln vs 403 mln tax 103 mln vs 99 mln minorities 13 mln vs 439000 extraordinary items 26 mln credit vs 12 mln debit note company name is s and w berisford plc brfdl
kobeya baking co ltd is planning a private placement of 10 mln swiss franc notes paying 4 5 8 pct and priced at 100 1 8 pct lead manager the long term credit bank of japan schweiz ag said
dalton bookseller of 852 mln dlrs or 88 cts a share in each period 1987 earnings exclude extraordinary charge from purchase and redemption of debt of 126 mln dlrs or 13 cts a share in the quarter and 323 mln dlrs or 33 cts a share for the year
for the year ended june 30 charter reported net income of 79 mln dlrs
brazil crop weather summary usda noaa
in a newspaper advertisement usair said the offer and withdrawal rights have not been extended and will still expire april 3 along with the new proration period
what youre giving up under 0 92 is the difference between the loan rate and the cost of production collins said
ixl holdings would proceed to acquire the rest compulsorily he said
high on the agenda will be banks complaints about brazils accompanying freeze on some 15 billion dlrs of short term trade and interbank lines the bankers said
community bank systems inc and the nichols national bank said they have signed a definitive agreement for nichols to become a member of the cbsi group of banks for an exchange of stock worth 28 mln dlrs
us soymeal indicated between unchanged and one dlr a tonne lower compared with yesterday
euroyen bonds must now carry a five year maturity though some recent issues which are callable in three years work as if they had shorter maturities traders said
the stock closed at 53 3 4 yesterday
qtly div nine cts vs nine cts prior pay july 15 record june 15
finance ministry officials declined comment but said the ministry has been aware of growing calls from securities houses for 10 year bond auctions
onyx petroleum exploration co ltd year loss
the steep fall is due to japanese investors cool attitude towards us bonds which had amounted to more than 80 pct of total foreign securities purchased securities houses managers said
kasler corp kasl 1st qtr jan 31 net
this is not the way to work in a serious way between two big powers de croo said
the rating agency cited the companys strong financial performance which was achieved by keeping expenses under control and not by relying on raising local phone rates to its customers
pda engineering pdas halts software shipments
the official briefing reporters on this weeks semiannual imf meetings said the issue would be discussed this week and the us had an open mind on the proposal but it did object to concessional interest rate relief
the closed end investment company approved payment of 45 cts on april 10 record march 31 of five cts payable may 11 record april 30 and of 55 cts payable june 10 record may 29
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
rowntree issues convertible eurosterling bond
the research institute on national economy said in a report the economy will start picking up in the april june quarter partly because of an improvement in earnings performance and capital spending in manufacturing industries
deputy us trade representative michael smith and makoto kuroda japans deputy minister of international trade and industry miti are due to meet in washington this week in an effort to end the dispute
ginnie mae drops fee increase on securities
japans seasonally adjusted unemployment rate rose to a record 30 pct in january the worst since the government started compiling unemployment statistics under its current system in 1953 up from the previous record 29 pct in december the governments management and coordination agency said
us jan business inventories rose 09 pct after a revised 06 pct dec fall
hospital staffing services hssi 1st qtr net
the dispute is being treated by the uk government as a test case of the openness of the japanese telecommunications market
they expect only marginal gains if not small declines for these indicators compared with a february increases of 05 pct in industrial production and 09 pct in personal income
four closings are set for may 23 and four for june 20 and the rest are tentatively set for september 19
prior year figures include 105 mln dlr provision for future losses at elsinore shore associates
british minister criticises proposed ec oils tax
manufacturing hours also fell back to their january level totalling 409 hours in march compared with 412 hours in february
the issue will be underwritten by morgan grenfell australia ltd and mccaughan dyson ltd apart from the shares to be taken up by adsteams associate and largest shareholder department store retailer david jones ltd new shares will not rank for the interim dividend but will rank equally thereafter
bci holdings to sell bottled water division
redstone 63 catapulted himself into the big leagues of entertainment early today when a group of viacom managers and their financial backers decided not to top nationals bid
usda official sees 7 8 billion dlrs certificates
analysts doubt fed firmed despite borrowing rise
hanson trust han us arm sells chemical unit
armel is a specialty retailer of a broad line of athletic and leisure footwear accessories and other sportswear
whether this will be under two pct as some people believe or around 25 pct as some others expect or even closer to three pct as the kiel world economic institute forecast a few days ago remains open at the moment
it said its board may redeem the rights for five cts per right any time prior to their exercise date
cathay pacific floated its shares in april 1986 and is now 5023 pct owned by swire pacific ltd swpchk 1643 pct by hongkong and shanghai banking corp hkbhhk and 125 pct by china international trust and investment corp
the commitment rate on adjustable rate mortgages declined by 16 basis points in the same period bringing the average rate to 85 pct the bank board said
however the release this month of almost 600 mln dlrs of deficiency payments was equally divided in cash and certs doing nothing to bring up the percentage of certs
on friday analyst daniel lee of drexel burnham lambert inc reiterated a recommendation of the stock focusing on increased comparable store sales and consistent annual earnings growth
but an official at the canadian embassy in copenhagen said the inspection of danish slaughterhouses was based on ec regulations
solar systems by sundance inc said it agreed to buy a 45 pct interest in a company that will sell condoms produced by inkey sa of spain
soybeans 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 2303 2284 1759 1758 production 9998 9943 9674 9653 imports 2621 2627 2708 2708 crushings 7969 7933 7616 7615 ttl domes 9753 9640 9236 9234 exports 2645 2643 2602 2601 end stocks 2523 2571 2303 2284 note imports and exports do not balance due to differing marketing years and time lags between reported exports and imports
rowntree mackintosh plc rwntl is issuing a 55 mln stg eurobond due march 31 2002 paying an indicated coupon of 4 1 2 pct to five pct and priced at par lead manager j henry schroder wagg and co ltd said
first commercial bancorp said it will acquire the three branch citizens bank of roseville in a stock swap
pulitzer publishing co pltzc 4th qtr net
of nine satellite television channels operated by viacom four are motion picture oriented pay channels
the study forecast a decline in gross domestic product growth to 175 pct this year from an estimated two pct in 1986 and a small rise in consumer price inflation to 125 pct after last years sharp fall to 075 pct from 36 pct in 1985
west germanys capital market liberalization program has stalled and bankers are worried it may take years for further reforms to be completed
liberalisation went one step further last week when parliament passed a law encouraging companies to go public
oecd officials said the agreement was based on a provisional accord reached in january subject to ratification by member governments
they also call for stepped up spending as an emergency measure to stimulate the economy despite prime minister yasuhiro nakasones avowed fiscal reform program
it is currently operating at around 50 pct capacity a company spokesman said
one tranche is of five year 150 mln dlr bonds while the rest is of seven year 150 mln dlr bonds but other issue terms have not yet been decided
hanson trust to sell us chemicals unit
telco systems inc telc 2nd qtr march one loss
its very dangerous to go down the retaliatory route he said because it leads to more retaliation and restrictions in trade 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
but despite promising indications of large reserves no commercial production plans have yet been announced
the company said comdata shareholder approval would also be required for its proposal
he said in an interview with that after a few years it was likely south korea would drop barriers to foreign goods and move toward a more balanced trade position
bormans inc brf 4th qtr net
us bancorp currently owns 49 pct of old nationals stock
neither party would reveal financial details of the deal initially announced in october
barnes noted that mellon has a bigger involvement in energy based lending than many other banks
richard braddock head of the whole individual banking division added that when there is increased competition it is not the big people who get crunched but the small ones
the transaction is not expected to have any impact on earnings humana said
the commercial paper of the parent and its unit chase manhattan bank of canada were affirmed at a 1 plus
ec commission sources said yesterday french traders planned to sell 775000 tonnes into intervention stocks west german traders 75000 tonnes and dutch traders 2500
clabir corp said its 86 pct owned affiliate ambrit inc abi has agreed to acquire the popsicle industries division of sara lee corp of canada ltd for about 37 mln canadian dlrs in cash
in an interview with lyng also said the reagan administration will ask tokyo to remove its quotas on us beef and citrus exports
lone star industries inc said it has arranged 150 mln dlrs of financing through the issuance of promisary notes to a consortium of 22 lenders
another topic likely to be discussed at the twice yearly meeting of the cocoa producer alliance cpa is the pacts second line of market support a witholding scheme under which exporters can take up to 120000 tonnes of cocoa off the market if buffer stock purchases fail to defend prices
sourrouille told reporters that 915 pct of the 195 billion dlr loan which forms the core of the package has been subscribed
petro canada expects to spend about 500 mln canadian dlrs to bring the field to production by about 1991 and the development budget could double if the company builds a production system combining both blocks in the field he said
other gatt countries will be nervous about china in this respect
imports were 263 billion against 225 billion and 232 billion
offers are due no later than 1200 hrs est april 2 and will remain valid through the close of business the following day the agent said
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
science dynamics corp sidy year net
more than 1000 fires in southern china had destroyed 13340 hectares of forest by mid february it said
james crivits consul chairman said debt service on the outstanding debentures has cost the company 55 cts a share per quarter and cut deeply into the companys profitability
a small investor group led by melvyn gelch a providence ri surgeon told the securities and exchange commission it has acquired 60840 shares of datarex systems inc or 55 pct of the total outstanding common stock
freestanding stores are also being planned the company said
last year it exported an average of 173500 bpd according to the central bank
malaysian growers however said they preferred a free rubber market because an inra had a tendency to keep prices at levels that were only acceptable to consumers
over the past year foreign exchange and consumer price controls have been largely abolished labour regulations have been pruned to ease the sacking of redundant workers and a hugely popular programme has been launched to sell state owned banks and industries to private investors
gabelli firms hold 285 digiorgio dig stake
fifteen people were killed in the copperbelt during food riots last december after the government tried to lift maize subsidies
s and p cited the completion of the firms merger with pnc financial corp pncf saying pnc has shown solid earnings excellent liquidity and a conservative capital position
sorghum sales of 178800 tonnes were two thirds above the prior week and 75 pct over the four week average
icgsl it said in a statement the offer was on the basis of 700p for each ic gas ordinary and 252p for every one stg nominal of ic gas loan stock
the raise brought its posted prices for west texas intermediate up by 50 cts to 1700 dlrs a barrel
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
after the meeting the spokesman quoted stoltenberg as saying he was confident that foreign currencies could be stabilised at around current levels
percentage increases were not immediately available
it said the bank last year started foreign exchange services for the first time on an experimental basis in shenzhen zhuhai and xiamen but it gave no more details
edible oil supplies will total 175 mln tonnes in 1987 against 173 mln last year including domestic output of 160 mln against 155 mln
the bank of england said it provided the money market with a further 30 mln stg assistance
us soy producers think ec oils tax unlikely
shares of reynolds metals co rose sharply after wall street firm furman selz mager dietz and birney issued a report focusing on the strong earnings potential from the companys australian gold holding traders familiar with the report said
exovir inc said it sold to an investor group led by mark hammer 200000 shares of company common stock and warrants to purchase an additional 200000 shares
what is needed is an anchor or reference point that can serve as a guide for both domestic and international monetary purposes says heller
terms of the transaction were not disclosed
american savings said the company said knolls offer to buy the new shares is not conditioned on other purchase of common stock from any person or entity
placer pacific ltd said it hopes the papua new guinea government will approve development of the misima gold project next month following the submission of its final environmental plan in port moresby today
us treasurys baker says commercial bank loans to developing countries too slow
the dollar fell to a record low against the yen this morning piercing the 150 yen barrier
so far 20 corpses have been recovered bracho said
the move was to allow greater access to taiwan markets by overseas trading partners especially the united states an official of the council for economic planning and development told 
the pact agreed to last july called for tokyo to end selling semiconductors at below cost and to open its home market to us goods
south koreas wholesale price index base 1980 rose 02 pct to 1251 in march after a 02 pct rise in february but was 06 pct lower than its march 1986 level the bank of korea said
bhps earnings in the first half ended november 30 amounted to 3970 mln dlrs sharply down from 5893 mln a year earlier
the talks are due to last until march 20
with the kitty hawk and its group in the arabian sea to the south and the us mideast task force in the persian gulf to the north the united states has 10 warships on either end of the strategic straits of hormuz
some problems were solved as a result of the contacts while others remained unresolved
the board declined to grant that permission
nippon life seeking tie with us securities house
centel corp said it completed the acquisition of welbac cable television corp which serves more than 2500 cable television subscribers in east central michigan
s and p said the downgrade reflected expectations of restricted financial flexibility through at least the intermediate term
he added that he remains optimistic that current talks would be resolved successfully
some of the economic indicators are not as rosy as they were a month ago he noted
galactic said march leaching production at summitville is expected to exceed 2500 ounces raising gold equivalent production since the june 5 1986 start of leaching to 65000 ounces
but the banks rejected the pins proposal in its original form fearing regulatory and accounting problems
shr 78 cts vs 86 cts net 2650 mln vs 2830 mln revs 37 billion vs 36 billion avg shrs 3290 mln vs 3190 mln
it was undermined by remarks from us council of economic advisers chairman beryl sprinkel who told iowa bankers the us had no objective regarding the value of the dollar
martin t
shr not given oper net profit 405914 vs loss 145380 revs 2446901 vs 1295187 year shr not given oper net profit 1211465 vs loss 178101 revs 9085222 vs 4995735 note earnings from 1983 on benefit preferred shareholders until preferred shareholders equity equals or exceeds liquidating and mandatory redemption values
taft broadcasting co vice chairman dudley taft and narragansett capital inc narr said they intend to pursue their effort to acquire taft broadcasting despite the rejection yesterday of their 145 dlr per share offer by the taft broadcasting board
net includes securities and loan sales loss 90000 dlrs pretax vs gain 46000 dlrs in quarter and gains 1213000 dlrs vs 2605000 dlrs in nine mths and loan losxs provisions 125000 dlrs vs 30000 dlrs in quarter and 275000 dlrs vs 90000 dlrs in nine mths
state run tanzania railway corporation trc has secured 256 mln dlrs aid from banks and european countries for a one year emergency repair program transport minister mustafa nyanganyi said
he said the company would use much of the income from the amusement park chain were it to be sold to repay debt
ccc accepts bonus on cattle to canary islands
clevite industries inc said it received a written proposal from jp industries inc jpi seeking to buy all of its outstanding shares for 1350 dlrs a share
madagascars cocoa production is estimated 13 pct higher this year at 2720 tonnes up from 2400 in 1986 agriculture ministry officials said
an investor group led by members of the hunt family of dallas texas told the securities and exchange commission it has acquired a 62 pct stake in comdata network inc cdn and may try to influence company policy
simon told in an interview that he expects earnings of 33 cts a share in 1987 compared with 25 cts a year ago
the kittiwake field originally part of the 25 billion stg gannet project abandoned last year when the oil price fell is now estimated to cost around 350 mln stg
interest will be payable over the next five years in half yearly instalments on february 28 and august 31
trading is expected to start later this year
bundesbank will not hold press conference tomorrow
bank and finance company downgrades outpaced upgrades by 16 to 6 respectively
american meat packers see japan as a promising market
it said it lowered its tax free income fund bltfx to 103 cts from 106 cts its us government guaranteed securities fund bbusx to 115 cts from 118 cts and its high yield fund bulhx to 14 cts from 142 cts
an economist at a german bank who declined to be identified said if poehl is confirmed in his post it will certainly be a plus for the pragmatic course which is not so rigidly oriented towards money supply one of poehls great struggles recently has been to persuade the united states to stop talking down the dollar
output is running well below the record 86 mln produced in 1970
m 1 makes up about a quarter of m 2 and a fifth of m 3
bill proposed on international debt facility
domco industries ltd 1st qtr jan 31 net
omar said last march it would be difficult if not impossible for sudan to meet scheduled debt repayments of 417 billion dlrs over the next five years
any iranian attack on soviet ships in the gulf will bring a forceful and violent response a soviet foreign ministry official said in an interview published here
royal dutch rd unit to cut heating oil price
henry ansbacher has 51 pct of adams and porter inc
cominco had pressed for a three year contract and some loosening of the rules on job classifications
both marais and develle said they agreed with that so long as the government kept wages under control
a second bid has come from the west german electronics group siemens ag siegf which hopes to take a 20 pct stake in cgct with the french telecommunications jeumont schneider taking the remaining 80 pct
rosario wheat 50400 maize 157040 subproducts 50100 sunflowerseed 1000 and millet 3100
zuckerman said that morgan stanley bought more corporate bonds than any one of the other three houses
the corporation has sought finance ministry permission to retain the entire oversubscribed amount brokers said
from july this year 30 leading stocks will be traded in a pilot of the asxs screen trading system which depending on its reception by brokers is expected to replace trading floors over the next four years industry sources said
brazil as the regions biggest debtor and its most diversified economy has now apparently adopted the principle that a tough position with its creditors will avoid a more serious crisis later on
charter federal jefferson savings agree to merge
the companys backlog is currently more than 180 mln dlrs they said
exports to the eec rose 351 pct to 770 mln dlrs and imports fell 38 pct to 15 billion he said
feds johnson sees inflation controlled
in the full year they gained one pct
the proposal has been talked of in brussels for the past 20 years and dropped every time
early this year the commerce ministry quietly told foreign companies interested in selling aircraft ships drilling rigs and railway equipment to india that they stood a better chance if they bought indian goods or services in return the trade sources said
it is worth reiterating that the federal reserves promotion of price stability is critical to the successful implementation of virtually all of the important ingredients for growth he told the eastern economic association
shr 71 cts vs 43 cts net 7274000 vs 4447000 rev 1616 mln vs 776 mln year shr 151 dlrs vs 132 dlrs net 15401000 vs 13525000 rev 4540 mln vs 3049 mln note fourth qtr net includes extraordinary gain of 38 mln dlrs or 37 cts per share versus 29 mln dlrs or 28 cts a share in 1985s fourth qtr and an extraordinary charge of 642000 dlrs or six cts a share
the committee said the refinerys future looked bleak because the swedish petroleum industrys competitiveness was expected to worsen unless it invested and because of the effects of a possible tightening of rules on sulphur content
thai exports in december and january were down however
cominco ltd said its cominco metals division lowered the price for lead metal sold in canada by 1 2 canadian cts per pound to 34 canadian cts per pound
separately commerzbank ag said in a report that the focus of west german exports this year was likely to shift to europe because of an expected downturn in growth in the dollar area
dylex ltd year jan 31 net
both bass and linder have acquired taft shares in recent months
malta tenders for white sugar today trade
the missouri based energy service company union electric co is seeking a 150 mln dlr four year euro term loan facility swiss bank corporation international ltd said as arranger
the result is in line with the declining trend in the growth rate since october the institute said
he said demand in rural areas will in future rise an annual four pct with demand in the cities rising an annual two pct
group shr 1768 yen vs 2649 net 1470 billion vs 2192 billion pretax 3576 billion vs 4885 billion operating 3288 billion vs 5190 billion sales 78873 billion vs 79624 billion note company forecast for current year is group net 1550 billion on sales of 800 billion
interleaf inc said it will introduce a series of new software packages that allow users to build electronic publishing systems comprised of personal computers workstations and mainframe computers
the commodity credit corporation ccc interest rate on loans disbursed in april will carry a six pct ionterest rate the us agriculture department said
considering what the philippine negotiating team is going to press for there is absolutely no reason why they should not be able to come back from new york in a day she said
this would be well below the 8130 mln dlrs earned in the first three quarters of 1985 86
the business comprised 41000 tonnes of crude sunflowerseed oil in bulk at prices ranging from 34425 to 348 dlrs and 5000 tonnes of refined oil in drums at from 51750 to 52250 dlrs per tonne cost and freight alexandria delivered quality terms
its businesses include standard and custom engineered centrifugal pumps and mechanical seals for the petroleum industry and advanced controls for the aerospace and defense industries
they are not worried about downside risk at all especially for junk bonds issued by well known companies said one portfolio manager
the company also said its board has withdrawn authroization for the company to buy its stock on the open market
other factors were pressure on selling prices because of a sharp fall in the prices of crude oil and petrochemical raw materials and the sale of polystyrene business in the us and netherlands
copper stocks outside us increase in december
further us demand could be sluggish because winter the period of greatest consumption is ending
nippon oil co ltd npolt predicted parent company net profit of about nine billion yen in the year ending march 31 down 104 pct from a year earlier president yasuoki takeuchi told a press conference
commonwealth bank plans 500 mln dlr paper facility
although the yens rise will have a greater deflationary impact on the economy the economy is not likely to slow down much further sumita said
the purchase was made for an undisclosed amount of cast
the soviet unions recent corn purchases from the united states could total as much as 35 mln tonnes us agriculture undersecretary daniel amstutz said
money supplies in the us japan and west germany exceed the central banks limits and real growth of their gross national products it said
shr loss 177 dlrs vs loss 1047 dlrs net loss 249 mln vs loss 1231 mln revs 1231 mln vs 1565 mln note1985 loss includes loss of 512 mln dlrs from discontinued operations
economists and bankers estimate that the rising value of the local dollar has attracted about ten billion us dlrs of speculative money into taiwan since early last year
and as part of the agreement with the banks that will be signed next week mexican residents will be allowed to participate in the scheme hitherto reserved for foreign firms in the hope that some of the 30 billion dlrs estimated to be held abroad will be repatriated
the finnish national airline finnair said in a statement today it ordered two mcdonnell douglas corp mdn md 11 passenger planes for delivery in october 1990 and may 1991 and had taken an option to buy on two more
health and rehabilitation hrp sets first divi
for the five years through 1991 crossen expects marion to have a growth rate of 55 pct
the new facility replaces the current 42 billion guilders of nine day advances which expire tomorrow
borden said the four companies are expected to have 1987 sales totaling 230 mln dlrs
thus far nomura securities international inc is the only other foreign firm to manage a us debt offering
he gave no trade forecast for 1987
the joint committee of taiwans soybean importers awarded a contract to richco grain ltd of new york to supply a 27000 tonne cargo of us soybeans a committee spokesman told 
sight deposits are an important measure of money market liquidity in switzerland
this could especially affect trees in west malaysia during april june while in east malaysia the impact will be in february april and july dec and in indonesia july sept
the company said the omission is the thirteenth consecutive dividend omission
first bank fbs sees loss on brazilian loans
moodys investors service said it assigned the following ratings to new eurobonds
the iranian spokesman said the reports that iran intended to attack ships were misleading propaganda he said iraqs president saddam hussein was the main cause of tension in the gulf and said iran would continue to use all its legitimate means to stem the cause of tension weinberger said in a television interview in the us we are fully prepared to do whats necessary to keep the shipping going and keep the freedom of navigation available in that very vital waterway we arent going into any disclosures or discussions of what might happen but we are certainly very sympathetic to and listening carefully to any suggestions for our assistance in keeping navigation free in that area he said
it said comed had 1986 revenues of 300 mln dlrs and earnings of 650383 dlrs and had revenues for the first four months of 1987 of 136 mln dlrs up 60 pct from a year before
in an interview with lyng also said that he had no knowledge of any upcoming discussion of the matter within the cabinet
revenues rose to 202 billion from 185 billion dlrs
armen estimated the upturn in the chemical business could last as long as four or five years provided the us economy continues its modest rate of growth
ecuadorean finance officials have been in telephone contact every day this week with some of the banks who sit on its 14 bank advisory committee the senior government finance official said
most latin officials set greater store on building up export income than on debt equity schemes
the rise follows a year on year increase in december 1986 of 45 pct
chryslers zuckerman said his company sold the corporate issues to four large wall street securities firms
in the parent bank the interest surplus rose nine pct in the year while the interest margin held roughly at 1985s 256 pct despite pressure on credit rates
carling okeefe ltd said it sold its star oil and gas ltd unit to united coal canada ltd for about 57 mln dlrs cash
our priority is to get cash flow increased from the assets already installed he said but he declined to estimate annual cash flow for 1987
the high cost of supporting farm prices has put a strain on national exchequers and some governments are now searching for ways to cut expenditure the report says
any change in the basic voting structure would require a change in the iadbs charter and in turn a lengthy process of prior approval by the congresses of each country petricioli said
timminco ltd year net
gynex said because of the recent introduction of the products it believes only a limited number of packages have been dispensed to consumers
iran has deployed about six large missiles near the strait of hormuz which increase the threat to shipping in the gulf the new york times said
he said he expects substantial cutbacks in the 20000 member workforce at baker hughes inc the name the merged company will take
world bank vice president david knox said the bank was eager to finance argentine plans to stimulate growth and that he was urging private banks to grant new loans to the country
if we can get the price up to the value of the company we will not be vulnerable to takeover pressure said charles blackburn diamond shamrocks president and soon to be chief executive officer of the new exploration and producing company whose name has not yet been decided
huckaby said he will deliver this message to corn refiner companies such as ae staley and archer daniels midland soon
1986 data includes extraordinary tax loss carryforward gains of 1185000 dlrs in qtr and six mths
a more hopeful sign of cooperation was agreement on basic elements of a new international natural rubber agreement in geneva at the weekend
presently upland cotton commodity certificates expire nine months from the last day of the month of issuance
the ministry now pays coupons in january june july and december
he has set a goal of 73 mln dlrs in internal savings and we need to get at least 20 mln dlrs of that savings in 1987 blackburn said
under proposed rules a shipping certificate has a limited life as it expires 30 days following the last day of trading of the expiring contract month
some analysts and industry leaders have questioned central bank policy of pegging the guilder firmly to the mark and if necessary keeping interest rates up to support the guilder
lindner controls 1489298 shares of taft common stock or 162 pct of the total
it will be available throughout most of western europe within four months
about 12 billion dlrs of long term debt was affected
the subscription expected to take place in may will give adsteam 49 pct of markheath adsteam said in a statement
burlington lawyers claim dominions board decided to attempt a takeover of burlington after ammeen met with the board in february
the refinery as a whole had been operating at about half of its capacity since the end of january while an extensive overhaul was carried out on the north side of the complex where the hydrocracker is sited he said
roffman said caesars world has considerable growth potential and he is forecasting fiscal 1988 earnings of two dlrs per share
k mart said 1985 was restated to account for discontinued operations
lawson said he planned two reliefs on petroleum revenue tax prt as from today companies may elect to have up to 10 pct of the costs of developing certain new fields set against their prt liabilities in existing fields until the income of those new fields exceeds the costs incurred
world bank affiliate provides credit for haiti
s and p said it projected debt to capital pro forma for the stock buy back at more than 67 pct compared with an average of 586 pct for the five years through 1985
the fed is faced with a large seasonal adding requirement said ward mccarthy of merrill lynch and co inc who expects a permanent bill purchase next week and a coupon purchase in early april
us trade representative clayton yeutter said the export enhancement program eep should be used as a tactical tool and not as a general policy
hallmark stores inc is raising 13713 mln dlrs through a three tranche offering of secured bonds said lead underwriter salomon brothers inc
the company said it will report its earnings soon
the brazilian coffee institute ibc gave details of its plans to pay the 18 companies that bought 630000 bags of robusta coffee in the london market on its behalf last september
japan study urges foreign access to farm markets
german bank sees good soviet trade prospects
ended jan 31 shr loss one ct vs loss eight cts net loss 25800 vs loss 157100 revs 2323500 vs 1930400 year shr profit 19 cts vs profit four cts net profit 401100 vs profit 93100 revs 103 mln vs 8807000
if the dollar resumes its slide the ems could be in for more turbulence they predict
the united states has tried to convince japanese car companies of the quality of american made parts and to draw them away from their traditional japanese suppliers
ministry of primary industries officials said in january the cabinet would decide on malaysias participation but so far a decision has not been announced
the banks have apparently yet to pass final judgment on the new proposal
sarrazin who through dresdner represents german banks in several rescheduling coordinating committees noted that brazil was still prepared to negotiate
a full bond tender program for the year has not yet been announced
banque national de paris bnppa senior dealer peter nicolls cautioned that in the long term the currency and interest rates were too high for import substitution and export industries
some consumers claimed producer support for the consumer argument was gaining momentum towards the end of the ico session but said it is uncertain whether this will now collapse and how much producers will sink their differences should prices fall further and remain depressed
crude runs normally increase in march and any decrease in runs would be friendly to the market said peter beutel of elders energy futures inc
ec officials say these tactics yield some benefits but often the japanese announce modifications of their non tariff barriers which open the door to imports by only a token amount
he said the united states should also threaten to mine and blockade iran if it continued fighting and must press iraq to acknowledge responsibility for starting the war as part of a settlement
swedish match sells portuguese unit
the vessel was on a voyage from trombetas brazil to matanzas cuba carrying 50000 tonnes of bauxite
the dollar had closed here at 15377 yen on february 20
it said a five year 355 billion dlr us defense contract was awarded shortly after the close of the first quarter
qtly div 14375 dlrs vs 14375 dlrs pay may 1 record april 3 note dividend paid to all shareholders other than norfolk southern corps nsc norfolk and western railway co
world economic growth and therefore an expansion of debtor countries export markets are needed to solve the debt issue he added
on march 16 it had 109244315 shares oustanding
first farwest corp ffws 4th qtr loss
the previous weeks m 1 level was revised to 7382 billion dlrs from 7380 billion while the four week moving average of m 1 rose to 7382 billion dlrs from 7372 billion
the federal reserve will enter the government securities market to supply reserves via either a large round of customer repurchase agreements or by overnight or possibly four day system repurchases economists said
for about 12 mln dlrs
intercare care to post 4th qtr loss
canada gdp rises 31 pct in 1986
bhp will also bring its queensland coal operations under one management structure and consolidate minerals marketing and sales offices in various markets throughout the world
he estimated income would rise to more than 25 mln dlrs in 1986 87
closing is expected around march 31
qtr ended february 28 shr six cts vs three cts net 765138 vs 311388 rev 83 mln vs 37 mln avg shares 12272265 vs 11377491 six months shr 17 cts vs five cts net 2073057 vs 515229 rev 150 mln vs 74 mln avg shares 12295934 vs 11200000
however they said it was likely that if and when the british banks sign the accord the others are likely to follow
purolator pcc director quits over buyout
centel corp said it sees 1987 first quarter results below those of 1986 due to regulatory limits on telephone earnings and 15 cts to 20 cts a share dilution from 1986 acquisitions
he noted that even though opec production may be within quotas oil stocks are at tremendously high levels although the ecuador situation could cause a delay oil prices will eventually decline to the lows of late february he said and that will be a supportive influence for bond prices
this month makulic imposed partial freezes on wages and prices which led to widespread strikes
glatfelter said it expects to close the deal by may 31
two people were missing and six injured after tanks containing thousands of cubic metres of fuel burst into flames today at a shell storage unit in lyon rescue workers said
but there was a widespread recognition at the conference that the baker plan has fallen well short of expectations
currency analysts also warned about an unfavorable reaction to the seven nation economic summit on june 8 to 10 in venice which is likely to focus on the implementation of previous commitments rather than yield any fresh initiatives
moller said he bought the stock as a long term investment and may buy more but has no plans to seek control of the company
negotiators for the two countries have been meeting for more than a year in an effort to work out an agreement
according to bundesbank data from september last year west german bank exposure to latin america of slightly under 16 billion marks represented less than five pct of all foreign credit
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 be under consideration
the finance ministry official said the government must constantly consider ways to improve markets for the benefit of borrowers and investors
theres going to be more to come here
shr loss two cts vs profit two cts net loss 104874 vs profit 90470 sales 3154673 vs 1666313 nine mths shr loss one cent vs profit four cts net loss 39169 vs profit 159784 sales 8250003 vs 4665553
hawker siddeley offer for clarostat clr ends
keihin electric express issues 150 mln dlr bond
the manila standard newspaper quoted rolando arrivillaga world bank representative in the philippines as saying the loan would be in three 100 mln dlr tranches
co managers are banque bruxelles lambert ka wah bank kyowa bank saitama bank sanwa bank and yasuda trust and banking co ltd
ef hutton group efh rose 1 1 4 to 41 1 8 and painewebber group pwj climbed 7 8 to 37 3 4
1987 3rd qtr and nine mth figures also include gain of 121 mln dlrs from sale of real estate investment property
s and p said that if successful the debt financed acquisition would greatly increase the firms financial risk and cause a marked drop in earnings and cash flow
the stock jumped 2 3 4 to 79 7 8
marcano told reporters at the finance ministry yesterday that the 24 billion is part of a total package of 32 billion dlrs in new credits which venezuela will try to obtain
currently companies outside the canadian securities industry are prohibited from owning more than 10 pct of a canadian broker
somehow it has been the perception of developing countries that gatt is a club of rich countries he added in an interview with 
shr profit one ct vs loss two cts net profit 52405 vs loss 67967 sales 289572 vs 188713 year shr loss one cts vs loss five cts net loss 51019 vs loss 201680 sales 11 mln vs 490935
the strike today closed the stock exchanges of sao paulo and rio de janeiro
sheikh ali told kuwaits daily al anba all opec states without exception are producing within the quotas allocated to them
the annual growth target for both is 5 1 2 to 8 1 2 pct
he said recession stemming from sliding oil prices had clearly had a negative impact on the development of capital markets in the region in addition family firms are reluctant to go public financial awareness among investors is still lacking and investment analysis and corporate reporting standards lack depth
a marketing loan for us wheat feedgrains and soybeans would do nothing to help the surplus production situation and would be extremely costly sen
hicks and haas group gets financing for spectradyne acquisition
charter crellin a molded plastic product maker said sebro is a precision molder of engineered specialty plastic products for the automotive industry
the issue is guaranteed by brierley investments ltd
skanska will be responsible for the construction and sas international hotels for the management of the hotel which is part of the international exhibition centre complex
taqi appointed oil minister in the last significant government reorganization in 1982 was moved to be minister of heavy industries
besides the presence of the ibc president at an ico executive board meeting is not a tradition dauster said
it said the offering is expected to raise in excess of 350 mln canadian dlrs and will be completed by the end of september
a farm bureau proposal suggests that producers should be eligible for supplemental payments in the form of pik certificates for the difference between 502 dlrs a bushel and the new loan rate
gabelli also said gamco has sent a 13 d filing to the securities and exchange commission on the 65 pct of gencorp stock held by gamco and its affiliates
the company said shareholders of record on that date will acquire beneficial interests in the liquidating trust that will be formed to hold all of the companys assets
talking point wendys international wen 
johnson and johnson said the us food and drug administration has notified the company its food additive petition for a high intensity sweetener has been formally accepted and now will be reviewed by the agency
he held brief talks on sunday with brazilian president jose sarney during a stopover in brasilia
new specific provisions rose by 1115 mln stg while 712 mln stg were reallocated from the general risk provision
comalco ltd cmacs 1986 net
the central bank purchased bank bills outright comprising 393 mln stg in band one at 9 7 8 pct 649 mln stg in band two at 9 13 16 pct and 85 mln stg in band three at 9 3 4 pct
pitman moore makes health products for pets and for farm and feedstock animals
it will be necessary to maintain strict discipline on expenditure and members of this house will have to take the lead in encouraging wananchi ordinary people to be more frugal in satisfying immediate needs the president added
fluorocarbon co said it completed the acquisition of eaton corps etn industrial polymer division
sales of paints and dyes fibres sheeting and information technology all rose in 1986 but plant construction sales fell
the figures showed the energy production index base 1980 rose 72 pct in january to 1264 from decembers 1179 and from 1246 in january 1986
the company said guilder revenue and profit were pressured by falls in exchange rates particularly in the us and australian dollar and sterling
he said there is a 40 pct chance that crude oil prices could move higher in the second half of the year following an opec meeting scheduled for late june
however this was far below the 73 pct increase planned for the industry for the whole of 1988
xonn said its net profit result included the reintegration of 12 billion francs of provisions for exchange fluctuations
mcgrath rentcorp said as a result of its december acquisition of space co it expects earnings per share in 1987 of 115 to 130 dlrs per share up from 70 cts in 1986
panhandle eastern chairman rl oshields said settlement payments of 247 mln dlrs plus releases and waivers of gas purchase obligations since 1982 had reduced the companys take or pay exposure
at the borrowers request terms will not be disclosed until later this week when bankers expect the syndication to close
highveld said it expects appreciation of the rand will be offset to some extent by increasing us dollar prices for its exports as the year progresses
kellogg co k 3rd qtr net
the company said the debt converted represents about 40 pct of the total 60 mln swiss franc convertible debentures it completed last fall
bankamerica bacp raises prime rate to 775 pct
they also said swire will have an extraordinary gain of about 138 billion dlrs from the flotation of its cathay pacific airways ltd caphhkg unit last may
the directors unanimously expressed their strong desire to preserve the companys independence and take advantage of its considerable future prospects according to director winthrop knowlton former chief executive and now chairman of the newly established independent committee
peru short term trade lines rise to 430 mln dlrs
hoechst ag completes celanese cz acquisition
worldwide spot crude oil movements fell to 3007 mln long dwt in february from 3725 mln tons in january and 4144 mln in december london shipbroker howard houlder said
pemex official says opec output critical to price
researchers at the federal centers for disease control tracked the spread of an unusual strain of salmonella that is resistant to the drug chloramphenicol and were able to link the resulting food poisoning to farms that used the drug to promote the growth of cattle
inflation is expected to slow to 35 pct next year from 375 pct this year unemployment should edge down to nine pct in 1988 from 925 pct this year
mfs managed muncipal trust bond said it declared a monthly payout income distribution of 57 cts a share compared with 56 cts for the previous month
he added that no one should expect any dramatic developments before march 31 brazil last month suspended interest payments on its 68 billion dlrs debt to commercial banks and froze short term trade and money market lines
the conversion period is from may 20 1987 until september 20 1992
japan concerned at ec trade threats minister
in the year ago period it said proved reserves were estimated at 3464 thousand cubic feet of gas and 1974000 barrels of oil
the company said it expects the transaction to be completed by september 1 1987
norsk hydro a s nhyo is issuing 50 mln stg bonds due april 15 1993 carrying a 9 7 8 pct coupon and priced at 101 5 8 said hambros bank ltd as lead manager
act in respect of any dividend paid by unilever plc has to be treated as part of the dividend
morse shoe inc mrs 4th qtr net
above normal february temperatures over the north china plain caused winter grains to break dormancy early in the south
the loc will be underwritten by a group of banks which will receive a facility fee of 20 basis points plus a utilisation fee of 25 basis points it added
against a background of western economic sanctions falling per capita incomes rising joblessness and high inflation government officials say economic growth is the prime objective
bonds suffered their biggest one day drop in months amid worries that the dollars slide will rekindle inflation scare away foreign investors and force the fed to tighten credit
it hit 1382 billion dlrs in 1985 86 to end june
metro mobile mmct declares stock dividend
the enlarged retailing operations of the lex automotive group now have a turnover of 530 mln stg
lex service buys sears motor group
amc says it is studying chrysler buyout proposal and will comment when appropriate
canada agency sets first euro yen offering
fixed rate cmo yields are 7153 to 897 pct for maturities of 2004 to 2017 and average lives of 25 to 2399 years
hewlett packard co said it reduced prices by up to 15 pct on two models of its hp vectra pc an international business machines corp pc at compatible personal computer
upward funds rate pressure and a big reserve adding need are anticipated for the statement period that began today
certain delegations wanted further discussion on the amount of non member cocoa the buffer stock will be permitted to buy differentials for different origin cocoas and limits on buffer stock purchases of nearby and forward material the delegates said
german producer prices fall 01 pct in march
opinion here was divided on when the bundesbank would act
with the prospects of a crop of at least 28 mln bags this year brazil has the capacity to export up to 20 mln bags after meeting local consumption of around 70 mln the sources added
a quarter of the one billion crown total share capital will be available to foreign investors government officials said
mild coffee growers to meet in guatemala
us current account deficit 3684 billion dlrs
a management group is currently being formed
solv ex corp said it successfully completed its oil sands pilot testing program under its agreement with shell canada limited shc and received a 250000 us dlr bonus payment
defense preoducts and other manufacturing operations will account for more than half sncs total 1987 revenues helping to counterbalance the more cyclical engineering and construction acivities taylor said
delegates at the renegotiation conference held under the auspices of the un conference on trade and development unctad reached agreement over the central elements of a new accord last weekend
it said the us underwriters have been granted an option to buy from certain selling stockholders up to an additional 900000 shares to cover overallotments
apex eventually fulfilled this obligation but claimed damages
the market was assigned all the 1500 billion lire worth of six month bills on offer after requesting a total of 1660 billion
it lifted its 1988 projection to 190 dlrs a share from 170 dlrs
earlier it said it lost 21 mln dlrs in the fourth quarter against a loss of 23 mln dlrs a year ago before discontinued operations
cnw corp said its subsidiary chicago and north western transportation co sold in a private placement 25 mln dlrs of consolidated mortgage 99 pct bonds series c due 1992
but aquino would not decree the redistribution of large sugar banana and coconut plantations leaving it to the congress to work out the details benigno said
we see nothing right now in the outlook that causes us to believe rates are going much higher or that the economy is not sound seidman told a news conference
the price increase brings west texas intermediate the us benchmark grade to 1900 dlrs a barrel
bank of japan actively buying dollars at around 14220 yen in tokyo dealers
asamera asm to form new mining unit
the trade teams would be made up of representatives of the us agriculture department state department the agency for international development and private voluntary organizations such as us wheat associates
south africas total gold and foreign assets rose by 700 mln rand in february to 62 billion rand after rising by almost one billion rand in january reserve bank governor gerhard de kock said
there is great expectation in the world for the policies that brazil and colombia will adopt
they have to realise their share of the home market is going to shrink with growing deregulation he said
most refineries are now upgraded to refine heavy oils and the price differentials between heavy and light crudes are a lot narrower today osborne said
shr 98 cts vs 63 cts net 2602000 vs 1571000 loans 8348 mln vs 7290 mln deposits 104 billion vs 9421 mln assets 115 billion vs 102 billion
but with dwindling financial surpluses in the gulf governments are actively pursuing ways to develop capital markets and set up domestic stock exchanges azzam said
s and p said the action reflected prospects for continued healthy markets over the next few years
comex announced friday the lifting of all daily limits effective today
national is a family business which operates a chain of movie theaters
hernandez grisanti said the loan will go part way to offsetting the loss of ecuadors 140000 in exports caused by earthquake damage to 25 miles of pipeline last week
shr profit four cts vs loss two cts net profit 247970 vs loss 57341 revs 2393622 vs 2627612 avg shrs 5958432 vs 2440100 year shr profit 71 cts vs loss 35 cts net profit 3213310 vs loss 849180 revs 146 mln vs 9099767 avg shrs 6177666 vs 2440083 note 1986 4th qtr and yr net includes a loss of 85000 dlrs and a gain of 250000 dlrs respecitvely for extraordinary item
fed sets 15 billion dlr customer repurchase fed says
the trade ministry said rice imports quadrupled in local currency value during the first nine months of last year as the government established a buffer stock of the countrys staple food
earlier this week some 65000 dockworkers cancelled a scheduled national strike to pressure port officials to give them a wage increase and other benefits
southland corp raised crude oil postings 50 cts bbl wti now 19 dlrs bbl
the long term prime rate is customarily set 09 percentage point above the coupon on five year bank debentures issued by the long term banks every month
vulcan is working to resolve the problems miller told shareholders adding it appears it will take most of 1987 to find solutions
rules governing buffer stock operations were agreed last month by the icco council
the japanese seem to be on their own at the moment one dealer said
s p said the acquisition enhances lorals competitive position in the defense electronics industry by broadening its technology and program base
we find more room to discuss these things innovations with european banks which have already bitten the bullet what is clear however is that banks are so angry and frustrated with brazil that they are in no mood to offer quick concessions
royal dutch rd unit raises heavy fuel prices
the fact that the americans after so much delay are now thinking of expressing their concern with panic is because reagan needs this sensation now said mousavi speaking after a cabinet meeting in tehran
ultrasystems inc uls 4th qtr jan 31 net
no official tender has been announced yet by tunisia they said
the decision was taken at a meeting of the authoritys cereals management committee today
listing will be in luxembourg
synergy group is offering 85 mln dlrs of senior subordinated notes due 1997 with an 11 5 8 coupon and par pricing said sole manager lf rothschild unterberg towbin inc
it said the new btx process units include aromatic extraction xylene fractionation xylene isomerization and thermal hydrodealkylation
april gasoline was 028 cent higher at 5315 cts a gallon
admin edp of sydney australia is a full service software sales and services firm
japans trade surplus with the community has grown steadily registering a record 213 billion dlrs in march
in addition commodity prices are at the beginning of the production chain and serve as an imput into virtually all production processes
the market can be bigger than the central banks
dollar final dividend will be determined by sterling dollar exchange rate may 18
the bank of japan intervened in early afternoon tokyo trading to support the dollar against active selling by institutional investors and speculative selling by overseas operators dealers said
wednesdays rebate was 087 ecus short of what producers say is needed to get an equivalent price to that for sales into intervention traders said
seton said it has formed an independent board committee to consider the offer and has deferred the annual meeting it had scheduled for march 31
finance minister gerhard stoltenberg said he will advise brazil to take up discussions with its commercial bank creditors when he is in washington for the international monetary fund imf meeting next week
heating oil stocks are also likely to build and runs to be steady to slightly higher which could add pressure on oil prices the analysts said
analyst lawrence cohn of merrill lynch and co said it is unlikely the situation will be resolved until the second half of this year
the notes will be issued in any maturity of between seven and 364 days and the funds will be used for the companys general financing requirements
colombia blasts us for coffee talks failure
an orders decline in the steel and in particular the trading and services sectors affected the groups total order figures
the offer was to have expired wednesday
if the usda acts soon as many dealers expect the movement would break the gulf corn basis
shr 77 cts vs nil net 417000 vs 1000 nine mths shr 239 dlrs vs 84 cts net 1298000 vs 443000 assets 2907 mln vs 2966 mln note full name of company is home federal savings and loan association of the rockies
seaboard corp seb 31 week year net
shr 35 cts vs 30 cts net 3997000 vs 3442000 nine mths shr 104 dlrs vs not given net 120 mln vs 8161000 note company went public in july 1986
ny bank discount borrowings 64 mln dlrs
the offers will have a minimum acceptance period of 10 calendar days the mint said
if the banks thought that that was a suitable way to go fine
they have demanded a larger allowance for non member cocoa in the buffer stock than producers have wanted
its probably a sensible approach on their part the british source told 
venezuelas central bank has ordered venezuelan banks and exchange houses to cease foreign exchange operations with brokers based outside the country according to a copy of a central bank telex made available to 
he stressed however that brazil was willing to pay as soon as it could but added that a payment of interest was not connected with the extension of the credit lines
indonesian coffee exporters are preparing for a period of depressed prices while urging their government to lobby for a resolution of the deadlocked issue of export quotas the chairman of the association of indonesian coffee exporters aice told 
in reporting lower first quarter earnings chairman allan taylor said problems with credit quality particularly in loans associated with the energy sector continue to have a substantial adverse effect on the banks earnings
as a matter of timing it is regrettable that this has been linked with the question of market access in japan a toshiba spokesman told 
us business loans fall 660 mln dlrs
beghin say sees solution to ec sugar dispute
net proceeds which have been swapped to us dlrs for undislcosed terms will used to fund loan commitments and other purposes
multibank financial corp mltf in payout
unless we get government relief the company will be bankrupt in three years he told 
the issues are aimed at curbing the growth of m 1b money supply which is the result of large foreign exchange reserves the official said
financially pressed ecuador a member of the organisation of petroleum exporting countries opec was recently pumping about 260000 barrels per day bpd of crude about 50000 bpd above the output quota assigned by the cartel another energy ministry spokesman said
the department said the semolina is for shipment april october 1987 and the bonus awarded was 22487 dlrs per tonne
combining the latest data with a 06 pct drop in november and a 46 pct gain in december the average retail sales gain over the four months was 02 pct he said compared to to a 04 pct rise for year over year sales through february
us meat group to file trade complaints
the commodity credit corporation ccc has reallocated 13 mln dlrs in credit guarantees originally granted to cover the sale of protein meals to el salvador so it may buy rice the us agriculture department said
bangor hydro electric co bang sets dividend
ventra management inc an over the counter company said it acquired joint venture leasing inc for 60 mln venture shares valued at 36 mln dlrs
harrowing as well as well timed applications of nitrogen will be necessary he added
equatorial said the losses will include a charge of about 45 mln dlrs from costs associated with the restructuring of its business including adjustments to reflect the market value of transponders owned and leased by equatorial and other reserves for inventory receivables and excess facilities
he told that colombia because of the relatively high level of its coffee stocks would probably suffer less
in october 1986 the venture received permission from the us department of energy to fuel the plant permanently with natural gas
city national corp ctyn raises dividend
it said the two companies also agreed to share the results of their research and development activities in optical disc technology
texaco also has eurobonds outstanding which are convertible into texaco inc common stock known as convertibles
until the world bank was confident that this was not the case it would not adopt new instruments
the government will provide new guarantees for up to three billion hk dlrs in financing instruments to be issued by the government owned mass transport railway corp bringing the total to 91 billion dlrs financial secretary piers jacobs said
shearson said the nickel market will be virtually in balance during 1987 with total non socialist world demand at 556000 tonnes compared with an estimated 544000 tonnes in 1986 production at 505000 tonnes 504000 and imports from socialist countries at 47000 tonnes 50000 it forecast prices will edge higher during the year from a first quarter average of 167 dlrs a lb up to 177 dlrs in the last quarter
but tian told a news conference the chinese government still considered fecs unsatisfactory
bankers said the banks move to raise the cash reserve ratio by 05 pct will mean impounding about five billion rupees from the banking system
net excludes gains on insurance recovery of 54000 dlrs vs 91000 dlrs in quarter and 1289000 dlrs vs 218000 dlrs in nine mths
holly corp hoc 2nd qtr jan 31 loss
union carbide said it will use the proceeds of the issues to repay debt incurred in connection with a recapitalization plan unveiled in november 1986
economic spotlight dutch exchange rate policy
don gingerich a delegate from iowa said to have unpredictable changes come along periodically makes it very difficult to plan and causes a lot of disruption other members said the farm bill has some imperfections but thats a price pork producers are willing to pay for legislative stability an nppc spokesman said
fees comprise 1 1 2 pct selling concession and one pct management and underwriting combined
brazilian bank workers decide on national strike
the company said closing is expected shortly after the filing of a registration statement with the securities and exchange commission which is expected to be made this month
journeys end motel corp six mths jan 31 net
in the last ten years israeli exports to the us rose fivefold from 417 mln dlrs to 23 billion in 1986 while imports rose from 888 mln dlrs to 18 billion last year
ratings lowered include the senior debt to a plus from aa minus and preferred stock to a from aa minus
another 8000 were in transit from assembly plants
tenneco spokesman joseph macrum said we have no comment to make whatsoever pickens was not available for comment
some 40 producing and consuming countries are taking part in the two week meeting
the bank of enlgand said it was creating and taking onto its own books a one stg tranche of the nine pct exchequer stock due 2002
the japanese telecommunications industry was deregulated in 1985
however the european representative on the task force herve de carmoy chief executive international for midland bank plc disagreed
the proposal will give the banks a choice of 5 8ths or the alternative ongpin said
the explosion and fire in which one worker was killed caused extensive damage to the central part of the 32000 hydrocracker and the spokesman said today this unit would be out of operation for several months
a chinese trade official estimated the yen component of the countrys total debt at about 30 pct
shr 183 dlrs vs 77 cts net 2966 mln vs 1201 mln year shr 490 dlrs vs 276 dlrs net 7958 mln vs 4205 mln note includes gains of 1392 mln vs 468 mln in year and 940 mln vs 116 mln from capital gains from investments
total production in february 28 days was 949000 tonnes compared with a downwardly revised 1038 mln in january 31 days and 920000 in february 1986
the head of spains employers federation jose maria cuevas said employers were worried about the governments monetary policies because high real interest rates were hampering investment
lucky stores inc lks reinstates quarterly div
underwriters noted that korth and painewebber along with co managers ag edwards and thomson mckinnon have strong retail bases
an investor group including new york based mutual shares corp and mutual qualified income fund inc told the securities and exchange commission it raised its stake in gelco corp common stock to 575859 shares or 82 pct of the total outstanding
if there is such a provision it is private and if i talked about it it would no longer be private said the official who asked not to be identified
it also said it lowered its earnings forecasts for the remainder of the fiscal year
1986 nine mths net includes charge of 1253000 dlrs or 12 cts a share for sale of reliacare and inspiron hospital products division
the federal reserve is expected to intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements economists said
at the height of domes success in 1981 common traded at about 25 dlrs a share
g 7 wants to show markets its resolve miyazawa
it anticipates the turnaround will contine and that profitability with be restored
he estimated it could take about 60 days to build
there has also been speculation by japanese traders that opec might want to mark up prices of high sulphur heavy crudes to correspond with greater demand and higher fuel oil prices
september bond futures climbed from the low of 87 a month ago to over 93 in mid june duggan said
terms were not disclosed
eastman kodak ek to sell holdings
recent purchases of us corn by the soviet union have skewed the domestic cash market by increasing the price difference between the premium price paid at the gulf export point and interior levels cash grain dealers said
allied bankshares inc abga 1st qtr net
she predicts usx will earn 18 cts a share this year and 273 dlrs next year against large losses in 1986
the monthly report is based on questions asked of purchasing managers at 250 us industrial companies
investor paul bilzerian has 72 pct pay n pak stake may seek control
chesebrough ponds inc recently acquired by a unit of unilever nv said it is offering to sell its bass shoe division as a result of an ongoing evaluation of the long term direction of its businesses
the last issue of three month paper conducted on february 12 yielded 2969 pct
enterprises serves about 16000 access lines in lancaster county
ziering said he expected the food and drug administration to approve three more of its drug abuse test kits by the end of the year which depending on approval should also help earnings growth
the following proposed securities offerings were filed recently with the securities and exchange commission first interstate bancorp i shelf offering of up to 112 mln dlrs of debt securities including notes and debentures on terms to be determined at the time of the sale
if it did not match the offer balaclava could accept the competing bid
terms of the agreement were not disclosed
the australian government is awaiting the outcome of trade talks between the us and japan with interest and concern industry minister john button said in canberra last friday
us energy secretary optimistic on incentives
dealers said if steps are not taken to stimulate the japanese economy protectionist sentiment in the us congress would grow and put more downward pressure on the dollar
mccrae industries inc said it raised its preferred dividend on its class a common stock to 12 cts per share from 11 cts per share
local currency m2 rose 10 pct to 25149 billion dlrs last month after it rose 47 pct in january
to date only 13 euro mtn programs have been announced but only a few have been activated such as those for a unit of pepsico inc and another for ab electrolux
in a move that came a day earlier than most expected the fed today supplied permanent reserves to the banking system by offering to buy all maturities of treasury notes and bonds for its own account
laroche said he has decided to drop the condition to his tender offer for 170000 shares of neco enterprises inc at 26 dlrs each that at least 170000 shares be tendered
the weak german bourse saw earnings on commission fall sharply and trading in securities also fell
ortiz mena earlier told the banks closing session that as a result of negotiations here the bank can expect a new injection of about 25 billion dlrs for the period 1987 90
shr 33 cts vs 48 cts shr diluted 33 cts vs 44 cts net 4435000 vs 6410000 revs 8393 mln vs 7518 mln 1st half shr 55 cts vs 94 cts shr diluted 55 cts vs 88 cts net 7374000 vs 126 mln revs 168 billion vs 151 billion
the bonds will be issued in 5000 dlr denominations and listed in luxembourg
venezuela issued a new plan in december for the repayment of 78 billion dlrs in private sector foreign debt
squibb is putting up over 75 mln dlrs in research and development to make it happen while the equity position part of the package is simply to demonstrate the seriousness of this partnership said fildes
but i am confident they understand the views of the united states and our strong support
the european operations had sales of 186 mln dlrs in 1985 the last year for which results have been released the company said
some also look for a permanent reserve injection to offset seasonal pressures via an outright purchase of bills or coupons this afternoon
awards are determined by whichever of the two methods is most cost advantageous based on the cost of money at that time
over the past five years ziering said the company has had average compound net income growth of 32 pct annually with a 27 pct per year growth in earnings per share
the official a member of the us delegation to ico talks earlier this year said no new coffee agreement talks are expected because there is no indication the negotiating positions of major producers and consumers have changed
the market now looks set sooner or later to push the dollar down further in a test of the willingness of central banks to intervene
8 1 2 pct bonds due march 1 1992 8 3 4 pct bonds due june 1 1996 9 pct bonds due march 1 2011
oecd farm subsidies study results detailed
the 15 year convertible bond was for the bank of tokyo ltd and has an indicated coupon of two pct
prices were said to have been very attractive but details were not immediately available
in 1986 it had net profits of 1652 mln dlrs or 60 cts a share up from 1505 mln dlrs or 53 cts a share
an overwhelming majority of the approximately 2500 members attending the meeting then voted to go on strike ufcw union spokesman allen zack said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
thailand announces third tapioca quota for ec
in last years first quarter the company lost 600 mln dlrs or 55 cts per share on 1084 mln shares outstanding after a 1108 mln dlr writedown of oil reserves of its celeron corp unit
today us energy secretary john herington said he will propose tax incentives to increase edomestic oil and natural gas exploration and production to the reagan administration for consideration
amounts for 1985 and the first three qtrs of 1986 have been restated to reflect the retroactive application
total retail sales on average were 123 billion dlrs in the fourth quarter of 1986 she said
the agency said the september surplus was 14 billion dlrs up from 4681 mln in august and 899 mln a year earlier
the move is designed to protect the tankers from iranian attacks and ensure freedom of navigation in the strategic waterway but has raised fears on capitol hill that it will draw the united states into the seven year old iran iraq war
moodys says lower ratings show 1987 downtrend
the state owned peoples construction bank of china is making its first foreign borrowing 300 mln dlrs to finance a large ethylene plant in shanghai the peoples daily said
the company alleged that beginning in mid 1986 coastal and its chairman took various steps to acquire its gas and other assets
aurelio periquet president of the philippine chamber of commerce and industry told the debt accord had positively translated the international banking communitys confidence in the countrys economy and aquinos government
the commonwealth bank of australia said it was preparing a 500 mln dlr commercial paper facility aimed at establishing a new australian dollar denominated paper market in asia
china construction bank mandates 150 mln dlr loan
gte gte unit debt upgraded by s p
calmar said a special meeting of its board will be held march nine to form a special committee of directors not affiliated with kebo to evaluate the transaction
backlog on september 30 1987 was 93 billion dlrs which company said was a record
software concepts had revenues of about 3200000 dlrs for the year ended june 30
india buys up to 10 cargoes sugar traders
feb 28 end shr profit four cts vs loss nil net profit 448000 vs loss 28000 revs 151 mln vs 115 mln avg shrs 112 mln vs 111 mln year shr profit four cts vs profit nil net profit 459000 vs profit 51000 revs 532 mln vs 445 mln avg shrs 112 mln vs 111 mln note net includes tax credits of 53000 dlrs vs 1023000 dlrs in quarter and 48000 dlrs vs 2557000 dlrs in year
the bundesbank said its balance sheet total fell by 377 billion in the week to 21845 billion
dutch insurer aegon nv aegnas reported a 64 pct increase in 1986 net profits to 3271 mln guilders and said it expected a moderate increase in profits for 1987
a requirement of around 51 billion is expected
lawson happy with sterling backs latest rate cut
recent announcements from moscow of next years grain production targets indicate that the soviets are estimating this years grain crop at 205 to 213 mln tonnes agriculture department analysts said
a statement issued after a cabinet meeting said goria had been informed by the united states that it would take action against an iranian target in the gulf but had not known beforehand that the action would involve an attack on an oil platform
taiwan issues more certificates of deposits
the bond is available in denominations of one mln yen and will be listed in luxembourg
xtra corp said it agreed to acquire all the stock of rentco trailer corp a wholly owned subsidiary of fruehauf corp for about 70 mln dlrs
the cut in exchange earnings of oil exporting countries was only partly offset by the advantages gained by the regions oil importing states he noted
of this total exports to non ec countries totalled 376 mln tonnes 34 pct down on 570 mln and exports to ec nations 445 mln tonnes 211 pct down on a previous 564 mln
the guarantee line for sales of protein concentrates has been increased from 250 mln dlrs to 440 mln dlrs it said
it said one major libyan equity producer had partially stopped lifting its 55000 bpd equity entitlement for march because libya was insisting on official prices but is still lifting 40000 bpd of debt crude at official prices and a further 25000 bpd of purchase crude it said small equity producers with entitlements of only 2000 to 3000 bpd had also told tripoli they could not lift at official prices
they said crushers bought some 270000 to 280000 tonnes of us beans for april shipment
that package heralded as the first to incorporate all aspects of us treasury secretary james bakers plan to aid indebted countries included a 77 billion dlr loan which was signed today in new york
the company said the court has scheduled a hearing on the proposed settlement of the suit for july eight
dei anang said the abidjan based adb will hold its annual general meeting in cairo from june 9 to june 11 and over 1000 delegates were expected to attend
ors corp said dominion securities alberta inc has been appointed to offer common shares in a new canadaina company being organized to exploit heavy oil production opportunities in canada and western europe
it said malrite communications group inc malr is the general partner
oper shr loss 40 cts vs loss 10 cts oper net loss 2136000 vs loss 467000 revs 219 mln vs 129 mln 12 mths oper shr loss 63 cts vs loss 30 cts oper net loss 3499000 vs loss 1756000 revs 820 mln vs 545 mln note excludes income from discontinued operations of 1478000 vs 952000 for qtr and 312 mln vs 6500000 for year
the company also said it finalized an agreement with a canadian marketing company to introduce the product in the country
there is no question of stimulating consumption or relying on a systematic budget deficit or other reflationary policies to boost the french economy sources close to finance minister edouard balladur said
net 177 mln vs 153 mln note national westminster bank plc subsidiary
the subsidies were immediately restored as part of moves to quell the disturbances
japan february current account trade surplus jump
it said the option can be exercised within 120 days and would mark its entry into the los angeles market
payment will be made not later than five business days following expiration of the tender offer
it said both the split and the dividend are payable may 23 to holders of record april 20 adding the company will have about 13860000 shares outstanding after the split
world animal health experts called for a campaign to eradicate the lethal cattle disease rinderpest in bangladesh bhutan india nepal and pakistan a statement from a food and agriculture organization fao meeting here said
atlantic southeast airlines inc reported an 111 pct increase of revenue passenger miles during february 1987 from a year ago the same period
it was put at a record 75 to 77 mln tonnes against the previous 75 to 78 mln tonnes
they said nigeria would probably request about 320 mln dlrs in fresh private bank money and rescheduling of some 14 to 15 billion dlrs in existing loans due in 1986 and 1987
the payment date is april 30
chemlawn said if waste management inc wmx intends to participate in the bidding process it will have to submit a confidentiality agreement to chemlawn financial advisor smith barney harris upham and co inc
ida approves 114 mln dlr credit for india
the reserve bank said it will not offer any treasury notes for tender next week
south african maize estimate called conservative
the 100 mln stg that tsb set aside for the loans was exhausted within just a few days according to a spokeswoman
the company said the system 30 has the capacity for 10 outside lines
ten pct of the shares have been reserved for employees who get a five pct discount increased to 20 pct if they keep the shares for two years
seed beds look good and farmers are advised to wait for soil temperatures to rise the spokesman said
while predicting slightly stronger growth than last year however the report revises downwards the oecds earlier growth forecast for 1987 of 375 pct
mts said the offer is conditioned on receipt of at least enough shares to give sosnoff a majority interest on a fully diluted basis the arrangement of sufficient financing to buy all caesars shares not already owned and pay related costs and approval by the new jersey casino control commission and the nevada gaming commission and state gaming control board
creditanstalt sees higher 1987 dividend
on the proposed omnibus investment code he said he was opposed to a clause which would allow the unrestricted repatriation abroad of investments made during the first two years after the imposition of the code
dutch consumers and food processors would be hit hard by the proposed ec tax on oils and fats dick de bruyn chairman of the commodity board for margarine fats and oils mvo said at the annual meeting
keating revises down australian growth forecast
he said that bank card operations and the new york branch system would continue to turn in hefty profits but also picked out other developing areas such as us mortgage and international consumer as major potential earners
trans world airlines said it told the securities and exchange commission it does not intend to seek control of usair group or to acquire more of its stock at this time
conable arrived in indonesia on saturday and has since met 14 indonesian cabinet ministers to review the countrys borrowing needs and the impact of falling oil prices on the country
large banks those with assets of one billion dlrs or more reporting fourth quarter losses totaled 22 the fdic said
mcfarland said former holders of petrominerals will have a 25 pct interest in the combined company
non refundable for 10 years the issue is rated a 2 by moodys and aa by standard and poors
she said were worried about a stock price correction of as much as 10 to 15 pct within six or possibly even three months meanwhile wright expects bonds to benefit from a half to one percentage point decline in interest rates by years end
sosnoff said he will be meeting this week with gaming officials in nevada in an effort to expedite the investigatory process required for regulatory approval a process that it already underway in new jersey
ec rejects licences for spanish barley
no intervention dollar fixed at 18063 marks
computerland corp said an investor group led by the financial services firm em warburg pincus and co inc has agreed to acquire computerlands business
the marketing year for corn began september 1
pall corp pll sets quarterly dividend
president john bohn told a house appropriations subcommittee hearing commercial banks have largely withdrawn from financing exports and export projects were becoming smaller
the rate was four basis points lower than a month ago only one eighth the size of decline in the previous month the bank board said
eib issues 300 mln luxembourg franc placement
shr 61 cts vs 55 cts net 726000 vs 669000 nine mths shr 178 dlrs vs 163 dlrs net 2133000 vs 1960000 note full name is first oak brook bancshares inc
diamond shamrock dia sets proration factor
bdm international bdm increases qtrly divs
channon made his remarks at a news conference after two days of talks with reagan administration officials and members of congress
oper shr loss nine cts vs profit 12 cts oper net loss 1791000 vs profit 2336000 sales 2429 mln vs 2258 mln year oper shr profit 15 cts vs loss 17 cts oper net profit 2925000 vs loss 3324000 sales 101 billion vs 8756 mln note net includes discontinued operations gain 2437000 dlrs vs loss 1900 mln dlrs in quarter and losses 756 mln dlrs vs 2277 mln dlrs in year
ongpin said the governments debt equity scheme introduced in august last year had attracted more than 276 mln dlrs worth of applications but selective evaluation had resulted in approvals of only 618 mln dlrs at end february
houston metals corp said the the first phase of the underground rehabilitation extensive drilling and bulk sampling program at its silver queen mine has yielded positive results
the company said the alternative filing seeks to recover about 79 mln dlrs a year through the pipelines non gas sales commodity rates
the new prices are 72 cents a lb for ingot and 80 cents for extrusion billet the company said
api said refinery runs in the week rose to 1180 mln barrels per day bpd from a revised 1170 mln and refinery use of operating capacity was 757 pct up from a revised 750 pct
eishiro saito chairman of the federation of economic organizations keidanren said the yens present rate is well above adequate levels
uk money market given further 442 mln stg help
shr 158 dlrs vs 193 dlrs net 86220000 vs 102629000 avg shrs 50831512 vs 49156828 assets 6104 billion vs 5795 billion loans 3876 billion vs 3968 billion deposits 3820 billion vs 3314 billion return on assets 057 pct vs 071 pct return on common equity 1147 pct vs 1519 pct note 1987 qtr net reduced by 12 mln dlrs because 104 billion dlrs of brazil loans were placed on non accrual
1986 4th qtr includes 35 mln dlr provision for costs anticipated in connection with disposal of division and 500000 dlrs in adjustments related to write downs
soviet 1988 grain target indicates 1987 output
icn biomedicals inc bimd 1st qtr feb 28 net
molpus told a senate agriculture subcommittee that ame and other livestock and farm groups intended to file a petition under section 301 of the general agreement on tariffs and trade against an ec directive that effective april 30 will require us meat processing plants to comply fully with ec standards
results awaited on egypt pl 480 wheat tender
reading co rdgc 4th qtr oper net
there is considerable divergence with the banks
bp bp unit to build gold extraction plant
for the tender price to be raised cyclops must provide cyacq with all non public information provided to dixons group and cyacq must be satisfied with financial projections made in offering material by dixons based on the information cyacq said
cheung kong chairman sees strong results in 1987
on trade issues rostenkowski said he did not expect the major trade bill this year would single out any us industry for special protection
japanese agriculture ministry officials told sales were limited to farmers to keep land in agricultural use
citibank the main susbidiary of citicorp said the filing it made with the securities and exchange commission about the possible impact on earnings should certain brazilian loans be placed on a cash basis was not linked to debt talks that are about to begin with brazil
rte corp said it completed the purchase of emhart corps united states aluminum electrolytic capacitor business for an undisclosed sum
phillips van heusen corp pvh 1st qtr
homestake mining co is considering acquiring more gold ore reserves in addition to the companys exploration efforts chief executive harry conger told in an interview
theyve also begun to realise that you cannot legislate solutions to a 170 billion dollar trade deficit so they are more realistic and in my judgement more responsible on that issue than they were 12 or 18 months ago he added whether that will be reflected in the legislation that eventually emerges is another matter
hre said the board reduced the dividend due to the continuing impact of overbuilding in its office building markets and its inability to replace the income from high yielding investments that have matured
theres a lot of speculation here that someway or other they would be forced to come up with another bid said rosario ilaqua of lf rothschild
the transcanada proposal could open the bidding for dome since other potential buyers were probably waiting for lenders to agree to a restructuring he added
1986 nine mths includes pre tax gain 206 mln dlrs on sale of iron ore interest in western australia
the rating agency noted that commodity exchange inc comex filed with the commodity futures trading commission in october 1986 a proposal to list a futures contract based on the index
it had also proposed a takeover of usair which at the time was negotiating its proposed merger with piedmont aviation inc
also the financing mechanisms had to be discussed because we cant stay as we were the last few years im trying to put the problem on the table all of us would like to have a kind of equilibrium he said
in a filing with the securities and exchange commission louart said it bought 73000 certron shares between sept 9 and march 6 at a total of 109315 dlrs a share
staleys investment in simsa no longer fit its overall coporate strategy and an agreement to sell the interest was completed in may it said
harris cuts cyclops cyl stake to 111 pct
it said the extension was subject to further extensions by the board and is conditioned on no person aquiring beneficial ownership of 20 pct or more of gencorp prior to april six
we want to see how it went and where the securities were placed the gmac officer added
consolidated norex to acquire triweb resources
alitalia spa azpimi calendar 1986
total borrowings in the week rose 83 mln dlrs to 502 mln dlrs with extended credits up three mln dlrs at 274 mln dlrs
redemption will be en bloc at par at the end of its life and the payment date will be march 30
commenting on the years performance the company said it suspended operations at the 60 pct owned agnew nickel mine because of losses sustained from declining nickel prices
yugoslavia discusses commercial debt refinancing
the wheat season begins june 1
with federal funds trading at a steady 6 3 16 pct most economists expect an indirect injection of temporary reserves via a medium sized round of customer repurchase agreements
its a win win situation said one analyst
the provisional january trade surplus narrowed to 72 billion marks from a record 116 billion marks the month before
in its weekly statistical bulletin the oil industry trade group said gasoline stocks fell 30000 barrels to 25292 mln barrels from a revised 25295 mln while crude oil stocks rose 700000 barrels to 32938 mln from a revised 32868 mln
capacity utilization for mining rose to 753 pct in february from 751 pct in january but was below the february 1986 rate of 794 pct the fed said
calls for a rescheduling of the debt have come this week from the opposition conservative party and the biggest trade union following the coffee price drop
the us and brazil have each laid the blame on the other for the breakdown in the negotiations to re introduce export quotas after being extended through the weekend in london
shr 22 cts vs 13 cts net 3166000 vs 1780000 sales 304 mln vs 169 mln avg shrs 146 mln vs 140 mln nine mths shr 56 cts vs 33 cts net 7961000 vs 4562000 sales 788 mln vs 447 mln avg shrs 143 mln vs 139 mln
the issue which will take the form of deposit notes will be co lead by dominion securities and wood gundy inc
shr 95 cts vs 80 cts net 574 mln vs 466 mln assets 2839 billion vs 2587 billion loans 1399 billion vs 1435 billion
taiwans imports in the second quarter of 1987 are expected to rise to 775 billion us dlrs from 582 billion a year earlier and from 695 billion in the first quarter of this year the statistics department said
they are going to be an interesting model for many other countries because they opened a dialogue on the reforms to every sector of the population and even international institutions he said
on the local market the metal traded in a narrow range of 3800 and 3805 hk dlrs a tael against yesterdays 3778 close
the commission which regulates the states oil and gas industry heard testimony from a number of high level company executives reflecting a belief that the recent industry downturn had bottomed out
penney chairman william howell said sales continued strong for catalog operations and geographically ranged from very active in the east to weak in the economically depressed southwest penneys been shifting away from leisure time activity wear to other apparel lines which yield higher profit margins but are currently hurting sales said greenstein of bear stearns
the underlying inflation rate this year would be unchanged at about one to 1 1 2 pct he said
the bank of england will step up reporting requirements for primary dealers in uk government gilts during the when issued trading period in between the date an auction is announced and the date the sale is actually held
economists said the debt agreement would have no significant impact on economic problems continuing to face south africa including high rates of inflation and unemployment labour unrest and political uncertainty
mthly div eight cts vs 71 cts prior pay april 30 record april 15 note franklin high yield tax free income fund
the proposed 757 mln dlr deal under which chrysler corp would acquire american motors corp was described by analysts as a reasonable deal for both companies
qtly div class b 135 cts vs 135 cts pay april 30 record april 9
the officials said the study has been inaccurate so far and they said japan would comment on the final results
indonesian palm oil output expected to rise
argentinas total oil and gas production fell 94 pct in february to 278 mln cubic metres from januarys total of 311 mln cubic metres the state oil company yacimientos petroliferos fiscales ypf reported
payment date for both non callable tranches is april 6
petroleum intelligence weekly an influential trade journal said in its current issue that they understood that exxon was looking at the possibility of refinery closures in antwerp southern france or possibly italy
in november 1986 data card said it planned to sell its troy division
miltope group inc milt 4th qtr net
oecd trade growth seen slowing in 1987
it said a further statement would be made as soon as possible
the investors involved with merrill include pension funds insurance companies and other institutional investors sources said
moodys said it would examine the effects of the proposed mergers on usair groups financial measurements as well as potential damage to the companys financial flexibility because of the probability of increased debt service requirements
corporate bond traders noted that chryslers sale occurred against the backdrop of a slightly weak secondary market
current profits of japans major firms in the october december quarter rose four pct from a year earlier to 5654 billion yen against a 26 pct year on year rise in the preceding quarter the finance ministry said
japan cannot tolerate a further rise of the yen foreign minister tadashi kuranari said recently
its an encouraging sign that the manufacturing sector is beginning to revive but stephen roach of morgan stanley and co inc was not convinced that the february reports portend economic gains
it also urges net repayments of foreign currency debt and an overhaul of domestic capital markets to facilitate the subscriptions by non residents of government bond issues in belgian francs
comparable store sales are up 56 pct in 1986 vs 1985 lee said and the stock is trading below the market multiple he said not many companies have a consistent 15 pct annual earnings growth rate return on equity above 20 pct but trade at less than the market multiple analyst lee said the introduction of a new line of salads this spring at about the time we are all trying to squeeze into bathing suits should boost sales he also noted that the average mcdonalds does about 1369 mln dlrs in revenues a year
dealers said the strength of the canadian dollar which has firmed especially over the last two days has renewed end investors confidence in the currency
proceeds will be added to general funds and used to support aetnas basic insurance and financial services businesses
advanced computer techniques actp year net
aero services international inc said it expects to achieve improvements in overall operations in the year ending september 30 1987
the plan involving concessional rescheduling of sovereign debt in the paris club was first proposed at the imf and world bank meetings in washington earlier this year
i think china will develop into a fine market for us he added
gulf resources said it still owns 67 mln shares of imperial continental or a 46 pct interest and continues to study various alternatives
any company that doesnt like a surprise attack would arbitrageurs pointed out it is difficult to resist tender offers for any and all shares for cash
selecterm inc sltm 4th qtr loss
president kenneth kaunda announced last month that the auction would be retained for allocating foreign exchange to approved private sector bidders but would not be used to determine the kwachas exchange rate
malaysia declines to state position on cocoa pact
the package also includes a five year 100 mln guilder eurobond with a 5 3 4 pct coupon priced at par
penn pacific ppaco to sell debt outside us 
however the fca and financially troubled farm credit system have in the past been ambivalent about the idea
some us lawmakers have proposed canadas share of the american market be limited to 24 per cent
kiena gold mines ltd 4th qtr net
moreover doubts had developed about the course of us interest rates
the preferred stock is convertible into 208334 berkey common shares and warrants to buy another 208334 shares
poland renews paris club debt talks
all the shares being repurchased amount to about 25 pct of king worlds stock
evans said the decision not to change rrt was based more than anything on the governments desire to ensure the certainty and stability of the new regime adding that major investments have already been planned on the existing ground rules
there has been grain industry speculation that the usda will offer moscow another wheat subsidy during the next marketing year
borg warners industrial products group based in long beach california has sales of about 300 mln dlrs and employs about 3000 staff
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 1085 billion stg
pakistan gets 70 mln dlr world bank loan
first quarter sales rose 615 pct to 3729 mln dlrs reflecting the acquisition of columbian chemicals and increased copper shipments from the chino copper mine in new mexico also acquired last year
employment is forecast to decelerate as well reflecting more sluggish growth in the private sector and budgetary cuts the report said
for the year ended december 1986 the company reported a loss of 36 mln dlrs or 16 cts per share
corrected micropro international corp mpro net
pri said all shell brand products sold under this agreement will be manufactured to shell specifications
a finance ministry official told the increase in bond issues was necessary to finance 14 major projects including highways power plants an underground railway and a receiving terminal for liquefied natural gas
primebank pmbk sets 10 pct stock dividend
with the best of intentions africa cannot attain a three to four pct gdp growth rate if the current high level of debt persists mamman said
however first national bank of chicago tokyo branch assistant manager hiroshi mochizuki said the dollar will not show drastic movement at least to the end of march other dealers said the us seems unwilling to see any strong dollar swing until japanese companies close their books for the fiscal year ending on march 31 because a weak dollar would give japanese institutional investors paper losses on their foreign holdings which could make them lose interest in purchases of us treasury securities
the museum said it has 152 mln dlrs principal amount of gross revenue bonds outstanding and approximately 1350000 of unsecured debt
american medical is expected to resist peschs latest bid
it said mining could start in 1988 subject to a satisfactory prefeasibility study
wells fargo and co wfc raises quarterly div
he suggested washington was open to disussing the issue
in the east one in 12 banks had losses last year while one in four banks west of the mississippi river had losses
analysts said the groups 7 eleven retail stores and its franchises among them canon cameras christian dior luxury goods and mercedes benz cars produced a strong cash flow
jewelmasters sales sales for the year just ended were about 525 mln dlrs
the company also said it plans to open within the next 90 days a 114000 square foot plant in macon ga that will allow it to expand production of transfer trailers and other products
the banks did not borrow in the first week of the period
new zealand economy forecast to improve in 1987 88
the following proposed securities offerings were filed recently with the securities and exchange commission intermark inc imi offering of 40 mln dlrs of convertible subordinated debentures due 2007 through drexel burnham lambert inc
based in bristol england isis employs 65 workers and has annual revenues of about five mln dlrs mcdonnell douglas said
per share figures come after preferred dividend requirements
total bahia sales are currently estimated at 613 mln bags against the 1986 87 crop and 106 mln bags against the 1987 88 crop
unidentified jets attacked three iranian oil rigs in the southern gulf early on monday setting at least one of them ablaze regional shipping sources said
golden poultry co inc said it has signed a letter of intent to purchase privately held food distributor don lowe foods inc of pompano beach fla for undisclosed terms subject to approval by both boards
moodys will also assess the effects that growth and a broader diversification of pharmaceutical cash flow will have on operating performance
under the january contract aramco was to purchase 134 mln bpd for the four partners allocated among them as exxon corp xon 440000 bpd texaco inc tx 350000 bpd mobil corp mob and chevron corp chv 550000 bpd between them
2500 workers the chevrolet pontiac gm of canada facilities to be shut temporarily are located in north tarrytown ny 3500 workers pontiac mich
the department said both the april and may increases in personal income were restrained by lower subsidy payments to farmers and by initial payments to a newly established retirement fund for federal government employees in april
southernnet inc sout 4th qtr net
in an article headlined gulf oil sources say middle east production up 14 mln bpd and markets witness new surplus amid whispers of return to cheating days it warned opecs official prices could face fresh pressure from international oil companies seeking cheaper supplies
pennzoil sees lower 1st qtr net before unusual item against year ago loss 49 cts
it seems these shells arose from an exchange of fire between iran and iraq no one was wounded and there were no losses diplomats said shells from the nearby iran iraq warfront had in the past fallen in the northern kuwaiti desert
the shipment of 22 mln barrels represents two days of oil consumption in brazil
he would not estimate the contribution of each segment to earnings per share for the year
but siedenburg of smith barney thinks cyprus is overpriced at current levels
one source said poehls remarks also underlined the fact that the bundesbank was now more prepared to be accommodative in monetary policy in order to prevent a further slowdown in west germanys economic growth
or if it was worth doing we had to go it alone lichtenberger explained
fcs laboratories inc said merger discussions with an unnamed privately held company in the health care field have ended without an agreement
frances bfce issues 150 mln dlr eurobond
its stock is currently trading at 34 1 4 on the new york stock exchange
atcor said it does not expect performance improvements in the first quarter to be sustained throughout the year due to increasing raw material costs
and the paris currency accord last month has fostered hopes the rapid yen rise has come to the end they said
the trade group said japan has not lived up to the terms of the agreement last year which was aimed at ending japanese dumping of semiconductors and at opening japanese markets to foreign based manufacturers
fees total two pct with 1 3 8 points for selling and 5 8 for management and underwriting combined
hechinger hecha debt upgraded by moodys
the tap will consist of 70 mln dlrs in floating rate notes paying and an additional equivalent amount of zero coupon bonds also at a deep discount of 20 cents on the dollar
he told reporters after meeting with president suharto that present weakness in the spot oil market was the result of warmer weather in the us and europe which reduced demand for oil
he described the situation as extremely tense but said gulf military activity would not significantly affect prices because supply and demand were roughly equal
peninsular and oriental 1986 year
the banks target range for this year is 65 to 95 pct and bank of spain governor mariano rubio said this month he was aiming for the lower end of that range
under the program notes in denominations of one mln dlrs will be issued with maturities ranging from seven days to one year
the spokeswoman said that bpcc intended to keep a majority share in the newspaper group if it was floated
texaco offered to put up one billion dlrs in a letter of credit and agreed not to let the value of its assets fall under 111 billion dlrs he added
for the third quarter ended sept 30 1986 zenith reported a loss of 3451000 dlrs or 16 cts per share adjusted for a may 1986 2 for 1 stock split
avana defence document forecasts profits rise
lear siegler holding to divest aerospace unit
in britain where the government is angered over the difficulties telecommunications giant cable and wireless has faced in its bid to crack the japanese market officials said last week that retaliatory action is being considered
brazil announced feb
progressive bank inc psbk 
infortext systems inc said it finalized a two year agreement under which gte services corp and eight affiliates will sell infortexts line of personal computer based telephone call accounting systems
pius haffner of the catholic charity justitia et pax told it is at least a small step forward when the banks say publicly they will not jump in when other banks pull out
yesterdays edition received here today said vietnam would invest one billion dong including the costs of relocation in 272 new economic zones
fees comprise one pct selling concession and 1 2 pct for management and underwriting
new south wales treasury corp launches yen bond
it also reflects s ps expectation that beneficials profitability will not return to pre 1986 levels soon after the firms recent corporate restructuring efforts have been completed
in 1986 the hughes rig count began the year at 1915 but dived to a post world war ii low of 663 in july as world oil prices experienced the sharpest decline in recent times
louis dreyfus 5300 tonnes same corn june 1 25 at 7549 dlrs fob gulf
debt among african countries will continue to grow and their economies will remain stifled unless developed countries lower their interest rates nigerian trade minister samaila mamman said today
it earned 585000 dlrs in the previous fourth quarter
duff and phelps said it lowered the ratings on beneficial corps senior debt to dp 7 low a from dp 6 middle a and preferred stock to dp 8 high bbb from dp 7 affecting approximately four billion dlrs in debt
taft has 92 mln shares outstanding of which 12 pct are owned by the taft and ingalls families
the bond market committee of the securities exchange council also recommended introduction of a shelf registration system more use of corporate ratings systems and simplification of disclosure rules to help speed up the issuing process securities sources said
the company said extreme heat from the fire caused severe rock degradation along several ramps and drifts in the mine
the bank said it expects to conduct open market operations during the week and after these cash balances should fluctuate around 30 mln nz dlrs
it has also asked france to curb the activities of iranian dissidents in france and stop selling weapons to iraq its enemy in the gulf war
city national corp ctyn 1st qtr net
taft said theta requested that the company cooperate and provide it with information subject to an appropriate confidentiality agreement
foreign firms have invested 21 billion dlrs on offshore china since 1979
bp shares closed down 33p at 317p as the ft se 100 share index crashed a record 2496 points more than 10 pct
harper said the board has previously expressed a strong determination to remain an independent publishing enterprise
healthy trees will be sprayed and remain under observation
orion oc has 52 pct twin disc tdi stake
it could not be expected debtor countries would be able to repay debts in the short run even if economic conditions improved
tcby enterprises tcby splits stock
he also noted that this test of the g 7 nations resolve had concentrated on the yen while other currencies especially the mark had remained stable
s p rates nomura international plc bonds aaa
overseas union bank ltd is one of the five primary dealers approved to underwrite the auctions and ensure liquidity
analysts noted that ibm chairman john f
nabors said the transamerican reorganisation would repay its 770 mln dlr debt with profits from natural gas sales
latin coffee producers seek ico price support
the inter american development bank said it intended this year to match the over three billion dlrs it lent to latin america in 1986 despite growing pressures on its capital
exports remain behind year ago and warehouses in producer nations are becoming increasingly overburdened said sandra kaul coffee analyst for shearson lehman in that firms forthcoming quarterly coffee report
bangor hydro electric bang gets approval
santos alvite said ecuador will ask opec to allow it to produce 100000 bpd above its quota when the pipeline is repaired to offset present production losses
television reports showed some of these protests still continuing today with farmers blockading banks with their vehicles in several towns in the states of sao paulo and parana
diplomats see the greatest potential danger in more attacks on soft targets such as merchant shipping not protected by american or other western navy vessels patrolling the gulf
dealers said that federal funds were trading at 6 7 16 pct when the fed announced the operation
yeutter did say that us farm products would be targeted if tokyo decided to hit back
liberal democrats said a lack of any restrictions in the bill implied consent to reagans policies
atlas yellowknife ayto six mths loss
i think even before the figures came out simply looking at key indicators such as consumption of fuel oil and power showed that the economy was on a different track from last year he said
infodata systems inc infd 4th qtr net
he said no estimate has yet been made of the cost of canceling the plant but the company does not expect to take a charge against earnings
the company said the merger will be accounted for as a corporate reorganization and be recorded at historical book values
the trade report on a balance of payments basis excludes such factors as military sales and the costs of shipping and insurance
santos alvite last night met venezuelan energy and mines minister arturo hernandez grisanti and will today hold talks at technical level officials said
the special meeting of the international coffee organization ico council was called to find a way to stop a prolonged slide in coffee prices
while all but eight pct of westerns 11000 employees are unionized only deltas pilots are union members
theres only one burlington he said
acp states say ec oils tax plan breaks accords
cyclops said remaining on the six member board are chairman and chief executive wh knoell president and chief operating officer james f
the department is considering including in its definition of perishable commodities such farm products as tobacco hops spanish reeds and christmas trees while excluding sugar cane the new york times reported yesterday
thailand has a rainy season that normally starts in may and lasts to october
shr 102 dlrs vs 96 cts net 556 mln vs 532 mln revs 13 billion vs 12 billion nine mths shr 313 dlrs vs 288 dlrs net 1713 mln vs 1590 mln revs 38 billion vs 35 billion note 1987 3rd qtr and nine mths includes one time after tax charge of 143 mln dlrs or 26 cts a share for previously announced anticipated sale in the fourth quarter of an investment in equatorial communications co
taihei kogyo co ltd is launching 40 mln swiss francs of five year notes with a 4 3 4 pct coupon and 100 1 4 issue price lead manager swiss bank corp said
shr 10 cts vs 11 cts net 255000 vs 242000 sales 7166000 vs 6486000 avg shrs 2438000 vs 2118000 year shr 50 cts vs 40 cts net 990000 vs 849000 sales 290 mln vs 228 mln avg shrs 1972000 vs 2118000 note share adjusted for five for four stock split declared today
the timing and amount of the proposed purchases will depend on the prevailing market price and trading volumes in the units to comply with securities and exchange commission regulators tenera said
sales in local currency terms were up by 14 pct with market share increases in the united states and japan
foreign ministry officials immediately tried to isolate the fall out from the dispute by seeking to separate it from prime minister yasuhiro nakasones planned trip to washington at the end of april
total net income is expected to reach 24 mln dlrs which includes 17 mln dlrs of net income realized from sale of property
the icco will discuss withholding scheme rules at an executive committee meeting on june 9 12 icco officials said
kelly oil and gas partners kly year dec 31
foreign exchange markets had been misreading his comments he said
officials of the federation of economic organisations keidanren said in a meeting with government officials the government should issue construction bonds as an emergency measure to prop up the economy
argentine soybean yield estimates down further
the companies said the suit asks a jacksonville fla federal district court to enjoin the enforcement of an interpretive rule adopted by the fhlbb last year which seeks to give it jurisdiction over barnetts proposed acquisition of home
honeywell inc said it has completed the sale of 575 pct of its honeywell information systems his computer business to compagnie des machines bull of france and nec corp of japan for 527 mln dlrs in cash
it said nomura securities co ltd of tokyo would sponsor its application
nzi corp unit sells guaranteed notes at 836 pct
the ratings reflect continuing erosion of a major segment of its sales base as the outlook for the taconite industry continues to be depressed d p said
april 30 end shr 12 cts vs eight cts net 316655 vs 148567 sales 2011195 vs 1422719 avg shrs 2738864 vs 1881296 year shr 43 cts vs 49 cts net 1006356 vs 918290 sales 7059446 vs 5441408 avg shrs 2329329 vs 1881296
schmidt chiari made the forecast at a news conference when the bank announced a 1986 consolidated banking group net profit of 4967 mln schillings for 1986 against 3545 mln in 1985
it is a sort of middle of the road agreement one delegate said
illinois co op futures dissolution vote set
paxar corp said it has acquired thermo print gmbh of lohn west germany a distributor of paxar products for undisclosed terms
mikulic was speaking to west german journalists in an interview published yesterday by the tanjug news agency
finnish export credit issues danish crown bonds
this is no secret
pennsylvania power ppl offers preferred stock
jp morgan jpm increases prime rate
the parent company contributed 50 mln dlrs in cash to the resulting 17 billion dlr asset subsidiary which will operate under the name crossland savings fsb with headquarters in salt lake city
the four issues now offer investors striking prices for gold ranging from the indosuez issue at 410 dlrs an ounce the same price as the underlying commodity to a 430 dlr level on the first one for citibank
synalloy corp said it has ended talks on the sale of its blackman uhler chemical division to intex products inc because agreement could not be reached
dudley taft and narragansett capital inc said it was prepared to raise its bid to acquire taft broadcasting co to more than 150 dlrs per share
shr 31 cts vs 56 cts net 137 mln vs 252 mln sales 6109 mln vs 5759 mln avg shrs 450 mln vs 448 mln year shr 57 cts vs 146 dlrs net 255 mln vs 649 mln sales 200 billion vs 192 billion avg shrs 450 mln vs 445 mln note current year net both periods includes gain five cts shr from sale of just for kids and giggletree mail order catalogs and charges of 10 cts shr from writedowns of assets related to the closing of linens and domestics stores and leased departments and of leased shoe departments
fed sets two billion dlr customer repurchase fed says
it said janunary march imports rose to 651 billion baht from 587 billion
first chicago corps american national bank unit said it completed the acquisition of four suburban chicago banks with combined assets of about 231 mln dlrs
the official 1987 88 estimate is 29 pct
qtly div 50 cts vs 50 cts prior pay april 30 record march 31
exports of american wine rose 149 per cent last year to a total of 72 million gallons the wine institute said
the durable manufacturing materials index edged down 01 pct last month after jumping 10 pct in january as prices for steel precious metals and copper stabilized
reagans statement followed a meeting with his top economic advisers
we have chosen a military target but we also have shown iran that we are willing to interfere with its oil exporting capabilities cordesman said
net official borrowings comprised 152 billion dlrs against a net outflow of 548 mln in the third quarter and a 516 mln inflow a year earlier
radix ventures inc 2nd qtr jan 31 loss
the bank of england said it had provided the money market with a further 15 mln stg assistance
willcox and gibbs inc wg 4th qtr net
real estate firm cuts intermagnetics inma stake
estimated drop in japan corporate profits trimmed
commercial unions dutch insurance unit delta lloyd verzekeringsgroep nv has a 54 pct stake in van lanschot which lowered risk provisions to 225 mln guilders
acs enterprises inc acse 4th qtr loss
quarter is companys first full quarter of earnings
media general meg holders may seek control
a swiss bank economist said he believed the markets were ready for a period of mainly sideways movement but milan dealers were sceptical about the communique contributing to greater stability
it serves no purpose to embark on another confrontational course before the recent wounds have healed and as we are beginning to make progress on the uruaguay round of global trade talks he said
mexico is due to sign a 77 billion dlr loan on friday that will be the first major facility under the baker plan which called for net new bank lending between 1986 and 1988 a target that morris goldstein of the international monetary fund said is now optimistic
there is a lot of gmac paper out there the executive added referring to the units past offerings
he gets to share in the upside if the company is sold another arbitrageur said he expects gillette to resist perelmans overture
he said they were turning their backs on core commodity chemical businesses
senior officials in the west german coalition government said tax cuts planned for next year would be increased by 52 billion marks in line with a pledge made by finance minister gerhard stoltenberg at last months international monetary conference in paris
the diplomat said that to join gatt china had much to do
but he said other countries such as japan and west germany also needed to take greater steps toward reducing their trade surpluses
the money could be spent only on goods produced and supplied by british firms excluding luxuries and defence equipment the spokesman added
shr 44 cts vs 30 cts net 4057000 vs 2716000 sales 495 mln vs 296 mln six mths shr six cts vs 55 cts net 518000 vs 5167000 sales 897 mln vs 549 mln
bc resources also recorded a 999 mln dlr extraordinary loss which included losses on disposition of north sea oil and gas interests by 67 pct owned westar mining ltd bc resources 1986 extraordinary charge also included a writedown of its investment in westar petroleum
since then they have stepped up purchases of foreign stocks and sought to deepen their understandng of foreign markets and instruments
andrew barrett of citicorp investment bank switzerland ag said the warrants give smaller investors a chance to have a long term investment in gold with limited risk citicorp in zurich launched the first of these warrants on february 27 following it up with a second issue less than a week later
it said unaudited net profit was in the neighbourhood of 700 mln pesos an increase of about 50 pct over 1985
igene biotechnology igne finds crop loss aid
qtly div eight cts vs eight cts in prior qtr payable april 30 record april 15 company said its board intends to declare cash dividends quarterly and plans to pay a five pct stock dividend annually following the close of each fiscal year
the issues pays a coupon of one pct in years one and two and then pays a coupon of 7 7 8 pct in years three four and five
many delegations feel the commissions report is rather too pessimistic said belgian finance minister mark eyskens who chaired the meeting
he added that a report by the manpower services committee which said 14000 jobs were lost in the industry in 1986 should be seen in the context of a total workforce of 300000
some analysts however disagreed that any spinoff of shearson would be good since it is a strong profit center for american express contributing about 20 pct of earnings last year
argentine debt talks difficult central bank head
japan seen cutting april bond coupon from five pct
a 300 mln dlr issue of notes was given a 7 7 8 pct coupon and priced at 9965 to yield 7926 pct or 70 basis points over treasuries
gold output in the northeast china province of heilongjiang rose 227 pct in 1986 from 1985s level the new china news agency said
the market doesnt want to do anything because of the election commented an economist at a big us investment bank
he said there were difficulties in negotiating with the previous renault management on the acquisition because they were committed to the groups business plan of which amc was an integral part
another 3800000 dlrs of gain from the multi family sale will be recognized in 1987 if multi family meets targeted operating results
nestle reported net profits of 179 billion francs for 1986 up 22 pct from 1985 while turnover fell 99 pct to 3805 billion as the swiss franc strengthened against other currencies
uk base rates will fall again soon say analysts
the light louisiana sweet grade was also raised 50 cts to 1785 dlrs bbl
jp morgan and co inc said its first quarter earnings fell by 32 pct largely reflecting its previously announced decision to place on non accrual status its 13 billion dlrs of medium and long term loans to brazil
last week rj reynolds announced the sale of four smoking tobacco brands
fed seen buying dollars for yen in open market
shr loss 10 cts vs profit six cts net loss 986000 vs profit 576000 rev 96 mln vs 91 mln year shr loss seven cts vs profit 27 cts net loss 714000 vs profit 2299000 rev 428 mln vs 346 mln
colombia business asked to diversify from coffee
it expects the company to report net income of about 40 cts per share in 1987 and a very significant increase in 1988
cyclops noted that dixons waiver of rights to breakup fees or the purchase of common stock directly from cyclops and the provision of nonpublic information to cyacq are conditions to cyacqs increased 9250 dlr per share offer to acquire cyclops shares
there were very serious discussions last fall but we didnt pull it off the source said in a reference to the assassination in november of former renault chairman georges besse
a consortium headed by the construction group bouygues sa has been awarded a 50 pct controlling stake in french state television network tf1 which stock market analysts said represented a major boost for bouygues
it was feared that the recent steep rise in sugar prices would have a marked effect on planting intentions this year licht said but judging by this first estimate the effect was probably minimal
company said any portion of this amount including related interest or attorneys fees would be proportionately reflected as a reduction in its minority interest of sealy recorded on its consolidated balance sheet upon final settlement of litigation
us lenders mostly savings and loan associations were earning rates as low as three pct on 30 year fixed rate mortgages they held in their portfolios but had to pay depositors rates as high as 15 pct to induce them to retain their accounts
in japan no single yard leads the industry resulting in fierce competition and slow progress in reducing capacity
an iranian shuttle tanker reported spotting a floating mine in the central gulf on tuesday about 50 miles west of lavan island regional shipping sources said
the spokesman said the fields partners have agreed to develop draugen with a 300 meter single leg concrete gravity base platform
knox said he had suggested to bolivian authorities that they invest as much of their disposable resources as possible in works of rapid reaction and which support the decision to make the bolivian economy grow knox is to hold talks with paz estenssoro as well as private businessmen and other government ministers during his visit
the company also said its first quarter results are expected to include a provision for loan losses of 55 mln dlrs about 20 mln dlrs over net loan charge offs of about 35 mln dlrs
the fixed rate market which consists mainly of cds tied to swaps or asset repackaging began to fall about a month ago due to indigestion after 18 cd issues totalling 23 billion dlrs flooded the market in january
moodys may downgrade piedmont aviation pie 
iran has anti ship missiles near gulf paper
however he said he wanted to see a gradual approach to declines in domestic uk interest rates although optimism in financial markets might push for big moves quickly
in january the company filed a formal rate case with new mexico regulators seeking a 2166 pct increase in its annual rates there which would have been equal to about 139 mln dlrs net of fuel savings
greater world supplies of wheat heavier soviet purchase commitments and less competitive us wheat prices make soviet purchases of us wheat less likely he said
it said the additional provision increases the allowance to 264 mln dlrs representing 663 pct of the outstanding loan portfolio and 832 pct of non performing loans at year end
textron txt plans sale of avco division
the following rainfall was recorded in the areas over the past 24 hours parana state umuarama nil paranavai nil londrina nil maringa nil
it also requests damages to be determined at the time of trial
those who believed the fed will intervene said it would probably add temporary reserves indirectly via 15 to two billion dlrs of customer repurchase agreements
moodys may downgrade caesars caw and unit
a union spokesman in rio de janeiro said the seamen had accepted a 120 pct pay offer from the companies globo and flumar which have less than 200 employees each
it also warned that what it called the worldwide synchronization of monetary policy heightened the risk of a new global recession
robert brusca of nikko securities co international sees both the strongest economy and the highest interest rates among those surveyed
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
nabisco is 80 pct owned by rjr nabisco inc rjr
total fees of 1 7 8 pct comprise 5 8 pct for management and underwriting and 1 1 4 pct for selling
the us had pressed for virtual veto power over iadb loans which were made on terms washington considers far too lax
the issue is payable and redeemable in australian dollars although coupon payments will be in yen
naantali saudi red sea 30000 35000 mt barley 4000 3000 20 30 4 or early may
such a decline he has said could refuel inflation as imported goods become more expensive and chase away foreign capital needed to finance the federal budget deficit
tonka also said it expects revenues and earnings to remain lower through the 1987 first half compared with 1986 record results of 1254 mln dlrs in revenues and 103 mln dlrs in net earnings or 147 dlrs a share
bankers report breakthrough on venezuelan debt
in a speech to the institute of contempory german affairs here poehl said it would be an extremely risky policy to aim for a further substantial decline in the value of the dollar to correct the trade deficit he said the united states could face a vicious circle of depreciation inflation and more depreciation if it took that route
total dutch exports of soymeal in january were 128015 tonnes down from 133559 tonnes in december and 155050 exported in january 1986
edelman of drexel said that hudson had a tougher comparison because it had an exceptionally good 1986 most analysts agreed that promotions are slightly lower than last year
they pointed out that in contrast to the many uncertainties connected with an issue of equity securities there would be few imponderables relating to bonds just about to be issued by the bank of england
if there is no concrete resolution they will be looking to sell the dollar possibly down to the 180 mark level he said
jamaica agrees draft bank debt rescheduling
the company could spend between 250 mln and 500 mln dlrs to buy another non copper firm durham said citing 100 mln dlrs of cash and 580 mln dlrs of untapped bank credit
german analysts see gold rising in 2nd half 1987
the debentures had been convertible at 34 dlrs per share
policy management systems corp said it has acquired the majority of the assets and business of allied research inc of salem ore and consolidated insurance services inc of springfield va for undisclosed terms
foote mineral co said it has signed a letter of intent to merge into rio tinto zinc corp plc for cash
it bid them at 98403 and set a 7 1 2 pct coupon and reoffering price of 98875 to yield 55 basis points more than comparable treasury paper
followin the acquisition a piosec spokesman said the company has 65 mln shares outstanding
the main measure of uk broad money sterling m3 grew a provisional seasonally adjusted 2 1 4 pct in february after a rise of 11 pct in january the bank of england said
the warrant may be exercised within five years at 950 dlrs per share
it projected the 1985 86 crop at 730 mln tonnes vs 730 mln last month
he said current third quarter results would be similar to 1987s second quarters loss of 12 cts per share
the bills will be issued march 19 in minimum amounts of 10000 dlrs and mature march 17 1988
it can also finance the plants itself and recover its investment through product sales a strategy iida said could prove popular in the future
fleet said it will seek to have the connecticut law amended to allow it to retain first connecticut which is based in hartford
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
restaurant management services resm in payout
a rise in interest rates now would only serve to spark further selling of shares that could ultimately have a major deflationary impact on the real economy they said
the ccts will be priced at 9900 pct for an effective net annual yield on the first coupon payable april 1 1988 of 985 pct
henley group inc heng 4th qtr loss
in an apparent gesture to baker coinciding with his visit the bundesbank repeatedly added money market liquidity this morning
butler manufacturing co said it agreed in principal to sell part of its controls division to enercon data corp of minneapolis
the 203 billion dlr debt rescheduling accord venezuela signed a week ago will reduce its payments over the next three years by 64 pct according to finance ministry figures released this weekend
it was also up sharply from 27 pct a year earlier
american stores co 4th qtr shr 157 dlrs vs 160 dlrs
funaro said that in his talks with creditors he had tried to restore credibility in the country in the hope of finding a lasting solution to the debt problem
the bank gave no details of the interest rates and other terms for the loans
time tl 1987 earnings may be 425 dlrs share
the company said if it is approved the sale will mark its second move to acquire a florida bank
american dynamics is engaged in gas gathering transmission and liquids extraction also in oklahoma
zimbabwes reserve bank the nations central bank has denied the zimbabwe dollar would be devalued
the rating agency noted that incoming orders remain lackluster and will probably inhibit any significant rebound in profits this year from the recent near breakeven levels
boise cascade bcc completes sale of unit
the production figures include neutral zone output but not sales from floating storage which are generally considered part of a countrys output for opec purposes
earlier new zealand sources had said french foreign trade minister michel noir had pulled out of the informal gatt talks for domestic political reasons
qtly div 10 cts vs 10 cts prior pay april 30 record april 21
breakdown was as follows cotton 26992 41933 sunflower 1403230 1190862 linseed 261600 309191 groundnutseed 23595 22809 soybean 3275225 2415492 bran pollards wheat 606352 659271 fiber cotton 3256 107752 wheat flour 18065 67878 rape nil nil the board added
but such a policy cannot be pursued indefinitely
however one or two traders expressed surprise that the authorities had issued further bonds of any kind in the light of the nervous conditions prevailing in the market
coffee producers belonging to the other milds group will meet may 4 in guatemala to discuss the possibility of restoring export quotas producer delegates told reporters after the closing session of the international coffee organization ico executive board meeting
when issued trading is expected to begin at 0930 hrs est tomorrow it said
norstar is based in albany ny first connecticut has assets of about two billion dlrs
fleet aerospace corp said it agreed in principle to acquire the assets and operations of the engineered magnetics division of gulton industries inc a unit of mark iv industries inc
scholastic inc schl 3rd qtr feb 28 net
profit per basic share after dividends fell to 61 cts from year ago 64 cts
block is currently analyzing its price structure to try to offset some of the negatives
the company said if the decision to disallow the other 20 mln dlrs is not changed earnings would be penalized by another 19 cts
danish trade in balance in february
that is a far cry from late september when s and p downgraded a 215 mln dlr issue of subordinated sinking fund debentures due 1998 of new world pictures ltd nwp just hours after the pricing
qtr ends dec 31 shr one cent vs 15 cts net 466000 vs 6866000 revs 1231 mln vs 935 mln note the company changed its fiscal year end from aug 31 to dec 31
diamond shamrock executives said that to reduce the vulnerability to takeover pressures they want to raise the value of the two companies to be formed by splitting diamond shamrock
harley davidson hdi unit to sell 10 year notes
danish crops two weeks behind official report
jiang feng xiang said the port the deepest in china handled 1795 mln tonnes of cargo last year up from 1044 mln in 1985 but well below its potential capacity of 32 mln tonnes
ponce federal bank fsb pfbs 1st qtr net
1986 net both periods excludes 143000 dlr tax credit
the collection of such a large amount within just one working week is a record for the indian capital market one broker said
shr 12 cts vs one cent net 546000 vs 48000 revs 223 mln vs 160 mln nine mths shr 44 cts vs seven cts net 1857000 vs 303000 revs 655 mln vs 460 mln note per share figures adjusted for three for two stock split paid april 1987
the report said rising commodity prices and the continued expansion of the manufacturing sector coupled with rigorous fiscal restraints and a more stable currency are grounds for cautious optimism about the malaysian economy
cyacqs press release does not amend cyacqs outstanding tender offer which remains at 80 dlrs per share and it does not state that cyacq has financing commitments necessary to carry out its original offer or any increased offer that it may make cyclops said in a statement
traders are assessing whether to require cash prepayment or letters of credit or to continue to trade as usual with texaco on an open line basis he said
us commerce secretary says export rise needed
shr 11 cts vs 13 cts net 1965577 vs 2474357 revs 383 mln vs 347 mln 1st half shr 61 cts vs 22 cts net 113 mln vs 4132129 revs 844 mln vs 662 mln
they put crude oil exports through yanbu at 100000 bpd last month compared to zero in january while throughput at bahrains refinery and neutral zone production remained steady at around 200000 bpd each
but one source close to opec indicated that february output may have been between 153 and 155 mln bpd
in a report to the canadian finance department the tribunal said the duty is hurting canadian farmers and food processors
west german barley rape affected by winter kill
graham mccormick oil and gas partnership said it completed the sale of interests in two major oil and gas fields to energy assets international corp for 21 mln dlrs
shr loss 495 dlrs vs loss 75 cts net loss 482 mln vs loss 4644000 revs 1334 mln vs 1356 mln 12 mths shr loss 628 dlrs vs profit 248 dlrs net loss 676 mln vs profit 257 mln revs 6389 mln vs 5731 mln avg shrs 10771260 vs 10355728
non refundable for five years the 30 year first mortgage bonds are rated baa 2 by moodys investors service inc and bbb by standard and poors corp
call money rose yesterday to 7 7 8 eight pct from 7 3 4 7 8 pct
brown forman bfdb to change record dates
shr loss 162 dlrs vs profit 83 cts net loss 172 mln vs profit 83 mln revs 2640 mln vs 3380 mln noteyear ago figures based on 12 months ended february 28 1986 because company changed reporting period to end december 31
income and refunds in the past five years have been declining
holders will also be asked to approve a new corporate name aon corp
if an opportunity arises for us to strengthen our capital position quickly we would be very open to it the spokeswoman said
the growth will be helped by higher stockbuilding and stronger domestic demand following tax cuts and higher real wages it added
the municipality of metropolitan toronto is issuing a 75 mln canadian dlr eurobond due may 7 1997 paying 8 3 4 pct and priced at 101 1 8 pct lead manager wood gundy inc said
20 that it was temporarily suspending interest payments on all its medium and long term foreign bank debt
however fulwider said the company would have nothing to say at this time about soros disclosure that he may buy up enough additional fairchild shares to hold as much as 499 pct of the companys outstanding stock
the bank of england said it provided the money market with 265 mln stg in assistance this morning
costs 561 billion guilders vs 666 billion depreciation 457 mln vs 493 mln operating profit 375 mln vs 598 mln financial charges 1551 mln vs 1694 mln extraordinary loss 12 rpt 12 mln vs 138 mln crude steel production five mln tonnes vs 53 mln aluminium production 96000 tonnes vs same
us officials said baldrige will meet philippines president corazon aquino on april 28 to show continued us support for her government and to discuss steps it could take to improve the atmosphere for american investment
he said a budget process that sets targets arbitrarily is not likely to succeed
the banks new rate will be the lowest of australias current prime rates
sales in europe also rose but us sales fell further he said without giving details
the revised unadjusted january index rose 05 pct from a year earlier after a one pct year on year december rise
us naval forces attack iranian oil platform
it is not taking up any 26 week notes
dutch seasonally adjusted m2 money supply was hardly changed in december at 16949 billion guilders compared to 16956 billion in november central bank data show
king fahd was asked whether saudi arabia would be prepared to reduce its oil output below its opec quota of 4133 mln barrels per day bpd to defend the 18 dlr benchmark price agreed to by opec last december
raul nicho president of money market services inc lifted his forecast of bond and fed funds rates an eighth of a point to eight pct for bonds and 6 1 4 pct for funds
demonstrations by workers students and farmers whose demands essentially involve more government spending have become an almost daily occurrence
bank mees en hope nv a fully owned subsidiary of algemene bank nederland nv said it launched the second tranche of a 100 mln guilders commercial paper program for the city of the hague
the index rose to 1341 base 1980 from 1298 in november and 1228 a year earlier the westpac institute report said
i think the pilots proposal is realistic
wheelon has served in key management positions at hughes since joining in 1966
x includes imports white 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 198 198 173 173 production 232 232 254 254 ttl supply x 433 433 430 430 domestic use 82 83 80 80 exports 170 160 152 152 total use 252 243 232 232 end stocks 181 190 198 198 note season begins june 1
sri lanka was the most active wheat destination with purchases of 52500 tonnes for the current year it said
this seasonal reserve add is called a pass the fed demonstrated that there has been no policy change said elizabeth reiners economist at dean witter reynolds inc
in january housing starts fell a revised 05 pct to 1804000 units
under the new rules purchases from non members such as malaysia will be limited to 15 pct of the total stock
he said a total of 76 ships were either waiting at anchor on moored in the harbour
hillards shares at 0900 gmt were quoted one penny firmer at 317p while tesco was one penny easier at 479p
the middle east foreign exchange conference brings together more than 200 traders and bank treasury chiefs from the arab world and arab banks in european and us financial centres
while not committing himself for or against such action he said lawmakers have to examine recent government findings which indicate certificates cost more than cash payments
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 131 billion dlrs to 6270 billion in the week ended april 1 the federal reserve bank of new york said
york financial corp parent company of york federal savings and loan association said its board of directors declared a five for four stock split in the form of a 25 pct stock dividend
chinas foreign exchange reserves fall during 1986
record date of the split will be april 21 kiena said
us feb durable goods orders rose 60 pct nondefense durables rose 38 pct
alpine associates a cresskill nj securities dealer told the securities and exchange commission it has acquired 565100 shares of leaseway transport corp or 59 pct of the total outstanding common stock
brazilian newspapers today hailed these agreements as a sign that the national strike could soon come to an end
british telecom will also seek to expand into manufacturing he said adding that research and development expenditure will rise both in terms of value and compared with the current proportion of two pct of overall turnover
technitrol inc tnl 4th qtr
but there was no reason to expect australian production in 1987 88 would be less than the 165 mln tonnes of last year the private forecaster said as crops in new south wales and queensland suffered from poor yields last season
fees include a one pct combined management and underwriting and a one pct selling concession
the country now has foreign debt totalling 278 billion dlrs and faces debt repayments of 36 billion dlrs due between january 1987 and december 1992
india gets 140 mln dlr world bank loan
the deal offers banks a lucrative fee if they sign early and an exit bond provision allowing banks to sell as much as five mln dlrs of their existing loans
loans from marine midland are secured by substantially all company assets
us federal home loan banks set debt offering totalling 255 billion dlrs
crude oil runs are expected to be unchanged from the previous week or slightly higher or lower
four seasons hotels inc and vms realty partners said they agreed to acquire the santa barbara biltmore hotel in california from marriott corp for undisclosed terms
the south african rank xerox unit sells copiers and duplicators throughout south africa and in namibia south west africa it has over 800 employees all of whom will be retained by fintech when the deal closes rank xerox said
the market had feared that a deteriorating non oil trade pattern would undermine international support for sterling which has been the motor behind the recent fall in uk interest rates
the government has not so far ordered the implementation of the tax decision
the turkish foreign ministry said in a statement it had received an assurance from greece that it would not carry out oil activities outside its territorial waters
fears of a rise in the discount rate were fanned by the central banks apparent decision last week to countenance higher rates on commercial bills dealers said
non callable for two years the debentures are rated ba 3 by moodys and bb minus by s and p
thats not in keeping with the spirit of what we agreed to as recently as earlier this month in washington baker said in a us television interview on sunday
emery said the company would still prefer to negotiate with purolator
the lower costs for raw materials and energy resulting from the lower dollar could not compensate the fall in revenues
the group said the funds would be used to cut borrowings which had risen to 234 mln stg at end february largely as a result of the takeover of ae plc the company also reported pretax profits rising to 447 mln stg from 396 mln previously
shr loss 36 cts vs loss 11 cts net loss 186 mln vs loss 5855000 revs 239 mln vs 539 mln note net includes tax credits of 122 mln dlrs vs 8510000 dlrs
asked by reporters if dome should remain in canadian hands blair replied yes
shr loss 10 cts vs loss 50 cts net loss 1830000 vs loss 3584000 revs 407 mln vs 268 mln avg shrs 192 mln vs 7115847 12 mths shr profit 10 cts vs loss 91 cts net profit 1422000 vs loss 6195000 revs 1857 mln vs 1269 mln avg shrs 148 mln vs 6811280 notes in may 1986 prospect raised 1018100000 dlrs from an initial public offering of common stock
s and p cited an increase in debt leverage to 86 pct of capitalization from 56 pct
marcos was toppled by a military civilian revolt in february 1986
officials at fuji bank ltd and mitsubishi bank ltd outlined similar three year plans
iraq rejects new opec oil quota
four months ago the department allowed the private sector to import sugar without government clearance
as a member of the organization for economic cooperation and development oecd the united states has agreed not to provide any concessional credits on the export of manufactured products
unadjusted the number of unemployed rose to 702600 from 699600 in february but the rate eased to 90 pct from 91 reflecting a slight increase in the estimated workforce
hair said the federation was not opposed to the possible exploration of oil only that interiors study was inadquate to make a sound judgement
however he said the market should also take into account evident factors such as brazils low stocks and the sale of the near totality of the central american crop
twa vice president and general counsel mark buckstein said twa also sought a declaratory judgement from the court that its 52 dlr per share takeover offer for usair would in no way interfer with usairs possible buyout of peidmont aviation inc pie buckstein said twa asked the court to enjoin the enforcement of usairs shareholder rights plan or poison pill such provisions which typically allow for the issue of securities to shareholders in the event of a hostile takeover bid are aimed at deterring takeovers by making them more expensive
norway relies on oil for about 40 pct of its total export earnings and was hit hard by the collapse in the oil price during the first half of 1986
we are overdoing it in holding too short a meeting
jamesway jmy march sales up 15 pct
the dollar opened at 14205 yen against 14215 25 in new york and 14250 at the close here yesterday
a budget saving proposal drafted by chairman patrick leahy d vt would limit adjustments in county loan rate differentials to no more than one pct per year from the national average loan rate starting with 1988 crops
its amoco canada petroleum subsidiary is 100 pct owned by amoco corp
the government had forecast that average measure gdp would rise 25 pct in calendar 1986 after 33 pct in 1985
alcad is one of the worlds largest producers of pocket plate nickel cadmium storeage batteries used in industrial and railroad applications to start engines and as light sources saft said
an appeal by the canadian pork council that the current countervailing duty on canadian hogs entering the us be lifted is pending before the court
the dollars fall without structural adjustments would cut japans current account surplus to two pct of gross national product gnp in 1993 the report said
finance minister edouard balladur industry minister alain madelin and telecommunications minister gerard longuet met for more than an hour today to discuss the imminent sale of the french telephone switching group cie generale de constructions telephoniques a spokesman for longuet said
the oecd study calculates the level of farm subsidies for the years 1979 81 using a new measure called the producer subsidy equivalent pse
the person most closely associated with the anti imf stance is finance minister dilson funaro who was not present at yesterdays meeting
we will respond to this news as soon as we have had an opportunity to analyze the decision and any and all options available to us chairman william bushnell said in a statement
a high command communique said iraqi troops had won a significant victory and were continuing to advance
the average delivered prices at the end of january were 210 dlrs per mln btu compared with 326 dlrs a year ago
s and p said valeros financial flexibility would improve as the company plans to use proceeds of roughly 760 mln dlrs from a proposed sale of natural gas operations to reduce debt
any trades would be negotiated
indonesia the largest country in south east asia with a population of 168 million is facing general elections in april
campeau acquired allied stores corp earlier this year the company said
they added that the rise in the reserves was merely the result of commercial currency transactions by the bank
kim who is also economic planning minister said prospects were bright for the south korean economy but the government would try to hold the current account surplus to around five billion dlrs a year for the next five years
mountleigh group plc a uk property company is seeking a 100 mln stg multicurrency credit facility union bank of switzerland london branch said
in announcing the sanctions last friday president reagan said japan had not fulfilled its promise to halt predatory pricing and open japans market to foreign products
with declining incomes and export earnings the bases for resource generation became limited and the government will not raise taxes because current tax margins are high compared to malaysias neighbours he said
additionally the citicorp unit and audio video have increased their commitments to cyacq to 185 mln dlrs
and then the question is will it have teeth one economist said
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting 3 8 pct
it makes sense the analyst said for sun chemical to strike before the offering is underway
the bremen green coffee market attracted good buying interest for colombian coffee last week while brazils were almost neglected trade sources said
eg and g inc egg sets quarterly
the company said it rejected the bid as inadequate based on advice of goldman sachs and co its financial adviser
private exporters concluded advance weekly sales for 106640 tonnes against 98152 the previous week
this was owing to high prices for the countrys coffee exports low oil prices low inflation and rising real incomes he added
cooper canada ltd said it told those who have expressed interest in acquiring control of the company that it would entertain no offer unless it were made to holders both of class a non voting shares and voting common
theyve outlined the fact that theyre investing heavily in the future which goes heavily into the international arena said lewis
x broken kernels not included supply minus use does not equal ending stocks in breakdowns
six major industrial countries agreed at a meeting in paris in february to foster currency stability
but the move showed that a real solution to debt problems was only possible with the involvement of all parties
guardian royal sees expansion in life assurance
non callable for five years the issue is rated a 3 by moodys investors service inc and a by standard and poors corp
it set up international farm corp of america in chicago last september to oversee the operation
favorable consumer response to our merchandise programs continued to positively impact our sales comparisons
resource exploration rexi in drilling pact
it was to have expired yesterday
the move follows cuts in credit card interest rate charges by several canadian banks
he said the foreign share of total profit would rise to 26 pct in 1987 and to 44 pct by 1990
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
bank of england officials were not immediately available for comment
us m 1 money supply rose 21 billion dlrs
the palm oil would come from malaysia or indonesia
the letter said 54876 mln rupees were needed for a six month period at least until the may september yala rice crop was harvested
silicon graphics sgic sells convertible debt
this is because the intermediary providing the funds in this case italfunding can obtain its funds relatively cheaply on the international markets
she told delegates at the informal meeting of trade ministers that this was one of five principles canada wanted adopted in reforming agriculture in the general agreement on tariffs and trade gatt secondly support for agriculture should avoid production incentives and thirdly countries should freeze and seek to reduce government aid measures that distorted world prices carney said
the arbitrageur said the equity portion was worth about 400 dlrs for a total of 51 dlrs
uk confirms february sterling m3 rise
att to sell neti technologies software
three consecutive days of talks between management and unions aimed at ending the three month old strike at cargill uk ltds oilseed processing plant at seaforth ended yesterday without resolving the situation although some progress was made a company spokesman said
the company said it is evaluating two separate proposals and will complete the sale within 10 days
the company said continued strength in its results prompted the move
we expect natural gas to regain 250 to 400 billion cubic feet of demand in the overall energy market in the second and third quarter 1987 he said
rapid american completes k mart km store buy
terms were not disclosed
the selling concession is 1 1 4 pct while management and pays 1 4 pct and underwriting 3 8 pct
kemper financial services economist john silvia stressed that any deficit reduction was better than none
but with bonn struggling to finance already announced tax cuts and falling tax revenue widening the federal budget deficit it is hard to see how bonn could cut taxes further
jerry huckaby d la which would set a six dlrs per bu loan rate and apply a marketing loan
great american management gami 2nd qtr loss
estimated us poultry slaughter
cyacq extends tender for cyclops cyl 
bsn corp said its agreement to sell 1750000 new common shares or a 25 pct interest to 31 unaffiliated european institutional investors for 304 mln dlrs has become definitive
they seem undecided on what to do with the fresh yen cash positions resulting from their dollar sales today and are sidelined until the currency market stabilises and the interest rates outlook clarifies a nikko securities co ltd currency trader said
nordic investment banks 300 mln danish crown 11 1 4 pct eurobonds due 1994
exports rose to 9984 mln dlrs from 8892 mln revised from 8895 in january and 9032 in february 1986
with a historically high yen and historically low interest rates theres an increasing disincentive to invest in japan competition in fund management has grown along with greater japanese savings
westlb raises australian dlr bond to 75 mln
the sources said sudan hit by a slump in export earnings and remittances from expatriate workers had an annual debt liability of nearly 900 mln dlrs but set aside only some 200 mln dlrs to service debts in the fiscal year ending next june 30
electro audio dynamics inc ead 2nd qtr jan 31
but at the same time worries about the international debt crisis would mean there was little chance of a rise above 6 3 4 pct since this would increase loan costs to the third world
businessland inc said it sold 50 mln dlrs of 5 1 2 pct convertible subordinated debentures due 2007 in a registered public offering
the trade balance showed a 1986 surplus of 332 billion crowns compared with a 158 billion surplus in 1985 the bank said
the increase in consumer prices excluding food and energy at 04 pct in january for the whole oecd area was unchanged on the four previous months but over the year to january oecd consumer prices rose by 35 pct against 33 pct in december
vernells was acquired by quaker in its acquisition of golden grain macaroni co in august 1986
qtly div 41 cts vs 41 cts prior pay may 1 record april 8
the companys sales totaled 67 billion dlrs last year
six months to december 31 shr 26 cents vs 52 cents interim dividend four cents vs same group net 124 mln ringgit vs 243 mln pre tax 266 mln vs 535 mln turnover 2353 mln vs 3339 mln note dividend pay april 30 register april 3
tobacco accounted for about 50 pct of profit with a four pct gain to 764 mln stg and a two pct increase in world volume
moodys pointed out that losses escalated throughout 1986 and said it expects only a partial improvement this year
royal insurance issues 300 mln mark eurobond
sheppard resources to merge with cancer clinic
shr 41 cts vs 31 cts net 4568656 vs 3461674 assets 17 billion vs 14 billion deposits 146 billion vs 119 billion note 1986 results restated to reflect a 100 pct stock dividend
ccr video corp said it has received an offer to enter into negotiations for intercep investment corp to acquire a controlling interest through a tender offer
betz laboratories inc betz sets quarterly
six months to dec 31
he said there were positive signs of growth in the economy particularly the drawdown of business inventories in the fourth quarter
this is because we unlike the germans are not taking policy to guide interest rates higher and the marginal rate rise in recent days is primarily for seasonal reasons he added
freeport mcmoran resource lp frp qtly payout
murphy oil said it increased its crude oil posted prices by 50 cts a barrel effective june 17
the statement triggered a rise in other brokerage stocks as investors speculated on the possibility of more investment in the us brokerage industry by japanese concerns
chinas fifth securities market will open on april 1 in the industrial port city of tianjin the peoples daily overseas edition said
baldrige referring to the us japan trade agreement on semiconductors said their government wants to live up to it
iraq said today its warplnes had attacked a supertanker and four iranian oil sites and vowed to keep up such raids until the gulf war ends
garcia was scheduled to return to lima tomorrow
the government will decide later what form the trade boycott will take and when it will come into force
shr loss 1529 dlrs vs loss 280 dlrs net loss 2213 mln vs loss 404 mln revs 1463 mln vs 2607 mln note 1986 loss includes extraordinary loss of 1716 mln dlrs or 1185 dlrs shr related to writedown of certain petrochemical assets and reduced by tax gain of 42 mln dlrs or 28 cts shr
union pacific said employees of the refinery would be transfered to the new company and would retain the same benefits as in the past
shiv shanker told reporters last month
the assets stood at 1517 billion dlrs in january last year
the central bank purchased bank bills outright comprising four mln stg in band one at 10 7 8 pct and 33 mln stg in band two at 10 13 16 pct
some grain trade analysts have said abnormal winter losses maybe one reason why the soviet union has been actively buying grain recently
the government has said it will ask for another 500 mln dlr long term loan from a world bank led consultative group of multilateral and bilateral aid donors to partially fund its land reform program
they said the department has until midnight tonight to set the duty but may not make the finding public until tomorrow
jacobs suchard expects another excellent year
angelica corp agl 4th qtr jan 31 net
canada lumber exports may become unprofitable
general acquisition said if gencorp does not allow an environment for fair competition it will take all steps necessary to create such an enviroment
waltham savings bank wlbk initial dividend
gaf has 416 mln dlrs of debt outstanding
argentina seeks new debt deadlines official says
greece has agreed to buy between 27000 and 33000 tonnes of spanish corn a spokesman for cargills spanish unit compania industrial y de abastecimiento sa cindasa said
funaro denied rumours that he had offered his resignation to president jose sarney
ibc acquisition corp said it received about 8857807 interstate bakeries corp shares in response to its tender offer for up to 8053181 shares that expired october 16 and it will purchase about 909 pct of the shares tendered
the company said the production phase of the contract has a potential value of about 300 mln dlrs
in the most detailed report to date on the heavy snows in january and floods in february izvestia said 8200 people had been evacuated from mountain areas 4500 houses had been damaged and hundreds of kilometres of roads and power lines had been destroyed
usx was trading up 1 8 at 28 1 2
house of fabrics inc said it expects growth in earnings and revenues as the current fiscal year progresses
shr 44 cts vs 33 cts net 1026000 vs 769000 nine mths shr 130 dlrs vs 106 dlrs net 3035000 vs 2472000
the institute said accumulated overall inflation for the first two months of this year was 40 pct compared to 50 pct for the same period last year
shr 63 cts vs 45 cts net 3623067 vs 2607977 gross income 101 mln vs 101 mln year shr 212 dlrs vs 174 dlrs net 122 mln vs 100 mln gross income 381 mln vs 368 mln note share adjusted for five for two stock split effective yesterday
1986 year net excludes gain 1910000 dlrs from sale of discontinued operations
although the worldwide economic situation remains unsettled there are some encouraging signs in our business ibm said in a statement
fed expected to add reserves
an initiative from iaco is likely very soon he said without elaborating
the toy manufacturer attributed its anticipated lower financial results to an an expected moderate decline in shipments of its pound puppies product line
holden brown said allied lyons move to acquire hiram walker gooderham and worts ltd in march 1986 during elders take over bid for the company was 100 pct a growth action we knew when we did it that it could be misconstrued and that people almost inevitably would say the acquisition was defensive but it never was holden brown told reporters
taiwans 1986 trade surplus with washington was the third largest after japan and canada
philippine coffee exports seen falling sharply
m 1 in the last 52 weeks has grown at a 167 pct rate and at a 191 pct rate in the past 13 weeks
borg warner has been under siege by takeover speculation for almost a year
japan march bond coupon seen unchanged at five pct
us official sees evidence of export growth
but private economists raise concerns about a resurgence in inflation
state officials said the government had agreed to revise its proposals to cut compensation and would allow slightly higher cash benefits for injured workers
the bank said the 738 mln dlr extension services project will examine strategies in 20 of mexicos 192 rural development districts and finance training for personnel and farmers office construction and the purchasing of equipment
with seven car assembly plants down this week including six at general motors corp gm us carmakers are expected to built an estimated 160111 cars for the week ending april 11 down from 177687 a year ago said the trade publication wards automotive reports
dow dow raises styrene butadiene latex prices
but martin said the product cycle was key to understanding the rise and fall of ibm and other computer companies and pointed to digital equipment corp dec to support his view
millers remarks reflected concern that the us central bank might feel compelled to tighten credit as a means of bolstering the dollar
canada retail sales fall 01 pct in january
cairns group said influential in trade talks
the sharp increase in the deficit originated from merchandise trade transactions where imports continued to advance strongly whereas exports were virtually unchanged the federal agency said in a statement
qtrly div five cts vs five cts qtr pay april one record march 16
the soviet union whose exports have declined since the 1970s might increase sales to the west by about 50000 ounces clark said
but the presidents instructions were unequivocal and unwavering do not yield one more millimetre and i dont care how long it takes
the trade surplus rose to 814 billion dlrs in february from 477 billion a year earlier and 570 billion in january
a further sharp fall to redress trade imbalances would clearly pose substantial risks of renewed inflationary momentum and could undermine confidence in future financial stability he said
the royal trust president said the company was stressing growth within its overseas units adding he did not foresee any acquisitions in the immediate future although we have our eyes wide open for the right opportunities asked about royal trusts plans for the us which the company abandoned with the 1983 sale of its florida bank units cornelissen said the company faced a trust services market well covered by hundreds of small regional banks
the us court of international trade has upheld the international trade commissions refusal to extend countervailing duties on canadian hogs to include pork products the national pork producers council said
they noted that on february 16 the eve of a planned increase in the quota april registrations were opened and closed after 168 mln bags were registered for export a record amount for a single day
us to sell 132 billion dlrs in bills
in the six months to february m3 which excludes holdings of german non banks abroad grew at a seasonally adjusted annual rate of 85 pct after 98 in the six months to january
universal holding corp uhco 4th qtr net
live cattle futures posted a robust rally today after a major beef packing company said it would end a lockout at its slaughtering plant in dakota city neb
i dont think the louvre is dead because if it breaks up in an acrimonious way the potential outcome is a rout of the dollar higher interest rates and collapsing stock markets
allied irish banks foreign exchange dealer john kearney commented i would see interest rates coming down by two to 25 pct in the next three months
texaco canada raises crude oil postings 24 canadian cts bbl light sweet now 2560 dlrs bbl
smit tak which with its west german subsidiary harms bergung gmbh was commissioned by the local water authorities to raise the vessels said its lifting fleet was in position and divers had made the first inspection
in view of the lower quality over recent weeks farmers have sold a good part of their cocoa held on consignment
the specialty retailing area continues to pay off for fw woolworth co once known only as a five and dime store chain which said its 1986 income rose 21 pct
pricing will be fixed next week
hechinger co hech 4th qtr net
new us banking data suggest the federal reserve is guiding monetary policy along a steady path and is not signalling any imminent change of course economists said
on trade the eiu said prospects for 1987 look increasingly sick import growth forecast in december at 45 pct is now seen slowing down to around 38 pct in 1987 with a recovery only to 42 pct in 1988 it said
johnson mattheys platinum group prices
caremark cmrko to vote baxter bax merger
we may have an increase in gnp starting in the second quarter he said in an interview
the par priced public issue will be redeemed in full at 48780 dlrs per 1000 guilder bond on april 15 1994
imperial corp of america said it declared a 10 cts dividend and four pct stock dividend on april 25 to holders of record april 10
the subcommittee also projects annual economic growth for japan of nearly four pct over that period and a very gradual appreciation of the yen to about 130 to the dollar by around 1993 from 150 now
the us trade gap last year was a record 1698 billion dlrs and continues to rise with japan accounting for about one third of americas overall deficit
fixed investments were 23438 billion lire in the fourth quarter down 07 pct from the preceding quarter and up 11 pct from the comparable 1985 quarter
thailand exported 75160 tonnes of rice in the week ended march 31 down from 88785 tonnes the previous week the commerce ministry said
during 1986 the company opened 81 new stores including 76 in the us two in australia and one each in japan canada and the uk we intend to open a minimum of five more units in london for example and it is reasonable that we might open other stores in other european countries in 1988 fields said
cyclops cyl names dixons officials to board
japan is the largest buyer of us farm products and these issues should not be discussed on the same table the official said
most eligible firms would have to set up special reserves for cp issues called backup lines or be guaranteed by financial institutions to protect investors they said
conrac corp whose board has rejected a 25 dlr a share tender offer from mark iv industries inc iv said it is exploring alternatives such as a restructuring leveraged buyout or takeover of the company
otherwise he said the trade deficit would be resolved either through a much lower dollar or a us recession both alternatives he termed unacceptable and undesirable
analyst edward johnson of johnson redbook associates said sales for february rose between six and 65 pct compared to a 36 pct increase last year
canadian officials in ottawa also said they have consistently tried to look at membership of commodity pacts on the merits of each case
unocal ucl unit offers 450 mln dlrs of notes
future quarterly sessions are scheduled for october 5 7 and december 14 16
federated said the dividend is payable on a pre split basis on april 24 to shareholders of record april 10
colombia has opened export registrations for november coffee shipments trade sources said
erc international erc to offer debentures
last years temporao also hit by a dry spell was 277 mln bags
the loan is for 14 years including three and one half years of grace and carries a variable interest rate currently 792 pct linked to the banks cost of borrowing
crossland said western with assets of 400 mln dlrs operated 13 branch offices in the states of california oregon utah and washington
yu said the interest earned from the reserves totalled about 168 billion us dlrs from july 1986 to february 1987
it said results outside the northeast were strong and it expects to show improved results for the rest of the year
a new steel quota system that would strictly limit european community ec support to the industry could be forced on producers if they fail to find their own solution quickly officials said
rubber producing and consuming countries which agreed on the bases of a new international natural rubber agreement inra last weekend are now putting the final touches to the future accord delegates said
last year it was well into the year before we offered it
api president sees options to avert oil crisis
hughes us rig count rises to 784
shr loss 29 cts vs loss 15 cts net loss 513542 vs loss 263708 revs 38000 vs nil year shr loss 24 cts vs loss 10 cts net loss 417552 vs loss 142010 revs 171000 vs nil
analysts said the bank had also been helped by a reduced need to write off bad debts
he said exchange rates have been stable so far in 1987 as a result of the accord
stoltenberg noted that in 1986 bonns exports fell by a nominal two pct while its nominal imports fell by 107 pct
magma copper co a subsidiary of newmont mining corp said it is cutting its copper cathode price by 075 cent to 66 cents a lb effective immediately
placements are not that negative especially since the technical correction in june and august live cattle futures since last week gh miller analyst jerry gidel said
martens did not say how much the government expected gnp to grow in volume terms
excludes loss 256000 for 1986 net for extraordinary item
shr loss nine cts vs profit 23 cts net loss 418000 vs profit 1037000 revs 2872000 vs 4700000 six mths shr profit nine cts vs profit 52 cts net profit 418000 vs profit 2365000 revs 6853000 vs 9379000 note includes tax loss carryforward gains of 164000 dlrs vs 551000 dlrs in quarter and gains of 365000 dlrs vs 1016000 dlrs in the six months
this is because of an unavoidable lag in price information particularly on housing used cars and insurance on household contents it added
jacobs suchard ag jaczz 1986 year
gaf corp said management group to reconsider acquisition proposal
madagascars vital rice crop is estimated at 2286000 tonnes of paddy this year up from 2138000 in 1986 the ministry of agriculture said
delegates to the three day congress will be considering 26 resolutions concerning various issues including the future direction of farm policy and the tax law as it applies to the agriculture sector
salomon incs tmc mortgage securities i plc unit is issuing 200 mln stg floating rate mortgage backed notes priced at par said salomon brothers international as co lead manager
it said oecd industrial production would rise by only 16 pct in 1987 after a weak 15 pct increase in 1986
the main worry from todays speech is the outlook for inflation given the signs of relaxed monetary policy contained in it scrimgeour vickers economist richard holt said
toyota motor credit corp is issuing a 23 billion yen eurobond due april 10 1992 paying 4 1 2 pct and priced at 101 1 2 pct lead manager nomura international ltd said
shr 14 cts vs 15 cts net 867000 vs 956000 revs 9203000 vs 5304000 six mths shr 18 cts vs 34 cts net 1111000 vs 1747000 revs 167 mln vs 104 mln note 1987 2nd qtr and six mths net includes 279000 dlrs and 432000 dlrs for tax credits
although bidding banks will now pay what they offered the official exchange rate for the naira applying to business transactions will continue to be the marginal rate the lowest successful bid
payment date will be may 28 with the first coupon payment in 1988
mcivor exxons senior vice president responsible for oil and gas exploration and production said that dependence would result from the mideasts large spare capacity at a time when the rest of the world consumes more oil than it was finding
goldsil and golden rule agree to merge
we should make this classification obligatory and publish it in places that are easily accessible to lay people he said
in the near term there is absolutely no reason for the fed to ease policy even apart from the slowdown in money growth said stephen slifer economist at lehman government securities inc
they include parliament the bundesbank the federal banking supervisory board eight west german stock exchanges and their governing states and the four west german banking associations
periods end march 31 1987 and 1986 respectively
coastal bancorp said the us federal reserve board approved the acquisition of coastal by suffield financial corp ssbk the acquisition still requires approval from the banking department in maine the company noted
but netbacks for crude oil refined in northern europe was generally lower with brent valued at 1889 dlrs off 30 cts from the previous friday and bonny light was off 17 cts to 1958 dlrs a barrel
cumulative net pack for the season was 80359978 versus 74071755 a year ago
kenneth mccormick co chairman of the international swap dealers association isda and president of kleinwort benson cross financing inc said that the association has no comment and will study the proposals
bank of british columbia said it revised its estimate of shareholder distributions from last novembers sale of most of the banks assets to hongkong bank of canada to between 65 cts and 115 dlrs a share from 55 cts to 120 dlrs a share
shr 53 cts vs 34 cts net 2253742 vs 1332652 avg shrs 4251553 vs 3932064
they noted that most documentation accompanying these loans contains a clause allowing for a loan to be restructured if the tax treatment changes
hawker siddeley also said demand for new railway equipment was limited with export sales frequently restrained by customers financing difficulties
oral proceedings are to begin on april 10
in february when the bundesbank cut its discount rate to three pct from 35 pct the central bank only lowered money market rates and removed a surcharge over the secured loans rate on lending under its three month credit quota
other institutes and economists have recently revised their forecasts for german 1987 growth to around two pct
national savings has been competing too effectively with the building societies of late
he said following the recent agreement for the sale of harper and row to the news corp ltd nws there may be pieces that murdoch doesnt want referring to news corp chairman rupert murdoch
this is well below the 73 pct rise planned for the industry for all of 1988
retail car sales are at a point of transition
most expect fed policy to be neutral for bonds near term
the banks affected by salomons change in investment coding were bank of new york co inc bk bankers trust co bt chase manhattan corp cmb chemical new york corp chl citicorp cci irving bank corp v manufacturers hanover corp mhc jp morgan and co inc jpm marine midland banks inc mm republic new york corp rnb bank of boston corp bkb and first chicago corp fnb sources said
in a filing with the securities and exchange commission louart said it bought 35900 amerford common shares between march 19 1986 and jan 30 1987 at prices ranging from 392 to 429 dlrs a share
a conflicting floor vote delayed the start of the meeting and staffers said it may have to be delayed even until next week
arab national bank s net profit fell 178 pct to 1521 mln riyals and provisions were more than doubled to 866 mln riyals
broker boosts zondervan zond stake to 71 pct
the officials said they believed the japanese action one step short of filing a suit was designed to bring south korea to the negotiating table and stop the plan
wall street has speculated british petroleum may boost its offer by several dlrs per share but the company maintained it would not raise the 70 dlr bid
basic american bami note issue canceled
gm stock has been a real laggard and now its rolling up its sleeves and getting serious
imatron is capitalised at 3276 mln dlrs the spokesman said
venezuela has almost no debt outstanding to multilateral agencies
peru consumer prices rise 59 pct in may
hutchison which has operations ranging from trading to property and container terminals earlier reported after tax profits of 162 billion dlrs against 119 billion dlrs in 1985
media general said the moves should broaden investor interest in its class a stock
c david finch an australian who heads the imfs exchange and trade relations department told the imf executive board on wednesday that he planned to leave by the end of next month after 37 years with the agency
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
stone container corp said it and southwest forest industries inc swf completed all waiting period requirements under the hart scott rodino anti trust improvements act of 1976
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
donaldson said the acquisition complements its microfiltration business and internal research and development efforts
another sign of abundant liquidity was the upward revision in banks net free reserves in the two week period to march 11 to a daily average of 759 mln dlrs from an estimated 660 mln
the left wing parties favour a parliamentary solution but the psd said it wants an early election in which opinion polls say they could win an overall majority
domestic interest rates now at record lows offer little investment opportunity
cpl real estate trust investment said its regular quarterly dividend distribution will be lower than its present 26 cts per share and could be significantly lower starting with the third quarter of 1987
new harding earlier reported profit of 653000 dlrs or 19 cts a share for first quarter ended january 31
the spokesman declined to detail these special measures but said they would not be the sort of dynamic moves which ec farm commissioner frans andriessen has said he would take in the case of complete deadlock among farm ministers
under terms of the agreement swiss re will acquire 55 mln newly issued cis stock at 250 dlrs a share or 138 mln dlrs
pentland said the amount of the capital gain from the sale depends on the offering price for the reebok shares to be negotiated between it reebok and the other selling stockholders who will offer about 16 mln shares of reebok common and the underwriters
on january 22 nabisco sold 500 mln dlrs of same maturity same rated sinking fund debentures priced to yield 862 pct or 107 basis points over the 9 1 4 pct treasury bonds
in addition consolidated tvx said it will acquire the right to add a 10 pct interest to a platinum property in which it already owns a 294 pct stake
south korea and taiwan are expected to double their output to 40 mln tonnes with chinese production increasing by 25 mln tonnes to 80 mln it added
this years aim of reducing the deficit to 49 pct of gdp from 51 pct in 1986 could still be achieved he said
the treasury said it proposed allowing the temporary imports because it felt congress had not intended when it passed the comprehensive south african sanctions bill last fall overriding president reagans veto to hurt us industry
i would think that the debtholders would want to entertain any and all offers for dome gobert said
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 baker made clear that since mexico brazil venezuela and argentina representing the latins had declined to accept the plan today the us had reverted to its original position but he added its possible the proposal could be revived us officials who asked not to be named said they believed a decision was not forthcoming because several top latin finance officials were absent from the iadb annual meetings here
the issue is callable after 30 days at 106 pct declining by one pct per annum to par thereafter
shr loss 174 hk cents no comparison dividend nil no comparison net loss 1149 mln dlrs
fleet flt norstar nor s p ratings unaffected
uk oilmeal veg oil production rose in 1986
the measure was published today in the official state gazette
hodel said the loss of some domestic oil production through the shutdown of stripper 10 barrels a day or less wells because of low prices was probably permanent
yochum said the company spent 306 mln dlrs of that reserve in 1986 and will spend 344 mln dlrs of the reserves in 1987
the best crepe one x traded at 2368 rupees a kilo averaged 1975 at this weeks auction
al zubedei is also a presidential adviser
partly offsetting these outflows a fall in note circulation and exchequer transactions will add some 45 mln stg and 25 mln stg to the system respectively
venezuela says opec oil output 0ver 18 mln bpd caracas oct 19 the current opec oil production is above 18 mln barrels per day bpd and this level threatens the precarious equilibrium of the of oil market venezuelan energy and mines minister arturo hernandez grisanti said on monday
april delivery cattle on the chicago mercantile exchange closed at 6445 cents a pound up 083 cent as the market expected demand for live animals to increase as the plant restarts operations
but the report hold out little hope for swift improvement in the economic outlook
in 1985 the company reported a loss of 672 mln dlrs or 1409 dlrs a share on sales of 2218 mln dlrs
unocal said its worldwide natural gas reserves were 607 billion cubic feet in 1986 compared to 1985s 619 billion
some banks including citibank morgan guaranty and bank of america are already preparing to downgrade their brazil loans
div and bonus reg may 1
recent and prospective whites buying in the world market was supportive but the raws section lacked feature dealers said
sales of the top of the line mainframes commonly called the sierras bailed out the whole quarter weil said adding if this continues it augers well for the rest of the year m
it said other suits are expected to be brought
discussions are taking place with the baltic international freight futures exchange biffex and the gafta london grain futures market is considering the possibility of joining the other markets market officials said
domtar inc said it filed a preliminary prospectus for an issue of 100 mln dlrs of 10 pct debentures to be offered at 99 3 4 to yield 1003 pct and to mature april 15 2011
paralax video vido to buy american video
sumner redstone president of national amusements inc predicted he can win regulatory approvals to wrap up the 34 billion dlr acquisition of viacom international inc in 60 to 90 days
the first significant resistance to specific policies although not overall goals surfaced in 1986 in both the massive government and party bureaucracy particularly among enterprise managers who complained that they were being asked to carry out conflicting goals such as to raise quality standards and output targets simultaneously the report said
until recently commercial banks were slow to conclude new financing packages pending completion of a mexican package mulford said
the spokesman said this would enable distribution of flour semolina sugar and olive oil at a relatively high rate next month
shr 163p vs 122p div 275p vs 225p making 38p vs 315p adjusted for three for one capitalisation pre tax profit 549 mln stg vs 334 mln turnover 170 billion vs 113 billion tax 76 mln vs 26 mlnprofit attributable 519 mln vs 301 mln cost of sales 149 billion vs 9993 mln gross profit 2159 mln vs 1362 mln distribution costs 903 mln vs 572 mln adminstrative expenses 659 mln vs 408 mln other operating income 39 mln vs nil interest payable 87 mln vs 48 mln minority interests 10 mln vs 07 mln extraordinary credit sale of share in s and w berisford plc 56 mln vs nil operating profit includes poultry eggs and animal feed 217 mln vs 172 mln food processing and distribution 154 mln vs 69 mln furniture and timber distribution 84 mln vs 34 mln fresh meat and bacon 80 mln vs 45 mln
the notes and paper will be issued by iels sydney based subsidiary iel finance ltd
the former requirement called for three lead managed issues
in 1986 quarto generated 59 mln dlrs in net income equal to 62 cts a share of naccos total 1986 earnings of 348 dlrs a share
others like the philippines and chile are privatizing companies and swapping debt for equity
gordon to make bid to acquire pagecorp pgoato 
m
kaufhof considering taking stake in hapag lloyd
zack said the companys offer for a cut in wages was unacceptable and said ibp was refusing to bargain in good faith
gaf gaf plans no changes if offer accepted
the number of unemployed declined to 632100 from 638300 in january against 594500 in february 1986 it said
the sale to a group headed by girozentrale bank of austria is subject to shareholder approval by april 24 1987 it said
bank of japan intervened buying small amount of dollars at 14285 yen dealers
the company is currently exploring alternatives for raising additional funds through a debt for equity financing
national entertainment corp nent 3rd qtr net
we belive it will be a very serious competitor in the future said idsal
gold holdings were unchanged at 21846 billion francs
the original idea was to help the needy survive this years unusually cold european winter
systems for health care in one for 50 split
algerian spanish firms agree quicksilver price
final terms on the deals will be fixed on march 12
saudi arabia is the architect of the current pricing and production pact which is backed by kuwait and the uae
our expansion schedule is on track may said it plans to invest more than 600 mln dlrs this year to open 11 department stores eight discount stores and more than 240 specialty outlets
shr loss 29 cts vs profit eight cts net loss 20 mln vs profit 568000 year shr loss 137 dlrs vs profit 88 cts net loss 93 mln vs profit 60 mln
purchases of nondurables rose 107 billion dlrs in february after a 300 mln dlr increase in january
it would be nice if the saudis would go more public but its their real estate said the official who asked not to be named
i think the brazilians have the attention of many of their creditors but they must come up with a plan that will persuade people that the brazilian economy is going to be put on a course that will result in some growth turning to japan conable said the role of that country has been increasing in the world bank and is expected to continue to do so
texaco shares were being indicated by over the counter share dealers here at around 26 to 28 dlrs compared with fridays close in new york of 31 7 8 dlrs
calvet said our hope is that once the ax is fully developed we will have between 65 and seven per cent of the national market
other bank stocks also rose strongly and dealers cited speculation already in the market that deutsche bank ag dbkgf would make a similar move
talks with third parties are expected to continue the shareholder group said
new prices are lpg 360 cents gallon chemical naphtha 47 unleaded reformate 658 04 gm lead 97 octane 613 95 octane 593 92 octane 555 85 octane 495 0125 gm lead 97 octane 643 92 octane 585 85 octane 525 jet kerosene 515 kerosene 505 premium kerosene 545 dual purpose kerosene 525 05 pct sulphur gas oil 520 one pct sulphur 510 and marine diesel oil 2120 dlrs barrel
the statement said joint working groups for each accord had a three month deadline to come up with contract proposals
banks are not obliged to declare these loans non performing before 90 days have elapsed but the move to announce a possible decision in this respect was viewed as a means of exerting pressure on brazil
lvi and spectrum an asbestos abatement concern expect to close the deal in june lvi said
no change in the british governments attitude is expected before the countrys next general elections due by mid 1988
coffee may fall more before new quota talks
the bank said nervousness in the wholesale deposit market is creating uncertainty about the immediate outlook for interest rates
furthermore she believes this structure offers the european investor greater confidence in market liquidity a major concern for these buyers
iran said its troops had killed or wounded more than 4000 iraqis and were stabilising their new positions the baghdad communique said iraqi planes also destroyed oil installations at irans southwestern ahvaz field during a raid today
us west usw hikes dividend
the british grants for developing the indian coal industry using british mechanised longwall technology totalled 52 mln stg in the past 10 years it said
if the price holds steady for a while at 760 cents i expect the level to rise to about 11 cents a pound by the end of this year he said
alc alcc anticipates 1st qtr profit
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
tax 104 mln vs 71 mln
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
ny business loans rise 523 mln dlrs in feb 25 week fed says
syria may have bought 80000 tonnes of french soft wheat some traders here said
yeutter says us japan trade difficulties remain
they were suspected of having collaborated with the late nagano in swindling about 15 billion yen from about 450 people in osaka and n27earby kobe during a six month period just before the firms bankruptcy they said
ussr seen likely to honor corn commitment
japanese finance minister kiichi miyazawa fuelled speculation about the amount of fluctuation the authorities are prepared to tolerate by saying that the current yen level is still inside the range agreed on in paris in late february
the commission was given new powers last year to control the release of intervention cereals onto the market the sources noted
ziering said as a result of the new tax laws he expected the companys taxes to decrease by five pct to 31 pct of net income in 1987
a repayment of 800 mln on public corporations market and overseas borrowings is forecast to bring the total public sector borrowing requirement down to 39 billion stg in 1987 88 from this years revised 41 billion the treasury said
commercial union is the first uk company to set up such a program
i think it still is under active debate whether or not it would be advisable to make an the export enhancement offer to the soviets thomas kay administrator of the departments foreign agriculture service told 
but on balance odgers said that groups financial strength economies of scale and the fact that it operates in a growth industry will help produce annual profit increases for the forseeable future
shr 45 cts vs 43 cts net 1503000 vs 938000 avg shrs 3358664 vs 2158664 note company had its initial public offering of 1200000 shares in october 1986
epsilon data management inc said it had executed a new revolving credit and term loan agreement with the shawmut bank na it said the total credit available under the newly signed agreement is six mln dlrs
shr profit six cts vs loss 18 cts net profit 156000 vs loss 212000 revs 5094000 vs 5669000
it also said french swiss and some canadian banks had subscribed to the package and that the remaining canadian banks would sign the accord in the next few days
shore mentioned half a dozen other potential buyers for gillette including sir james goldsmith hanson trust plc han rjr nabisco inc rjr american brands inc amb and ralston purina co ral perelman is trying to put the company in play said a wall street arbitrageur
sri lanka offers 250 mln rupees in t bills
national semiconductor corp nsm fourth quarter
yugoslavia is seeking a loan of 600 mln ecus from the european community for transport system modernisation deputy finance minister boris skapin was quoted by the official tanjug news agency
peter mortimer a partner in the law firm milbank tweed hadley and mccloy noted that legal requirements could well determine which structure is chosen
cable and wireless was due to take part in talks in japan next tuesday he said
period ended april 30 was companys first quarter of operations
handy and harman sees sufficient silver supplies
gordon jewelry corp said it has completed the previously announced sale of the assets of its catalog showroom stores to privately held carlisle capital corp for an undisclosed amount of cash and notes in excess of book value
the extra amount this costs the government could wipe out the revenue the tax brings in
we are in an impossible situation unless we get government relief the company will be bankrupt in three years he told 
i am convinced that they are attempting to move their policies in the right direction
new zealand is launching a 100 mln stg eurobond due april 9 1995 priced at 100 1 4 with a 9 5 8 pct coupon lead manager warburg securities said
the corporation believes that it is premature to make a decsion to classify such medium and long term debt as nonperforming at this time first interstate said
the miti official said miti undertakes such surveys when exchange rates fluctuate widely
the agency is moving to seize all us assets of both men which they could forfeit if they do not contest the case the sec official said
paris trade details ec grain tender result
the company which last paid a quarterly common dividend of 22 cts a share in december said it will consider future dividend payments on the basis of improved profitability and cash flow
southern new england telecommunications corp snet said it expects to have good earnings in 1987 against 446 dlrs per share or 1392 mln dlrs in 1986
newell co nwl 3rd qtr net
this trend had been reversed recently and with domestic credit demand likely to remain at steady levels money stock growth was expected to narrow in the medium term
to implement the plan of sharpening its strategic focus on consumer goods and services the company will give serious consideration to the sale of its pneumo abex its aerospace and defense company if it can realize a price which will return maximum value to shareholders
volcker urges industrial nations to keep trade markets open to foster growth
the move will enable the exchange to concentrate on the cash settled contracts introduced last year
the office and technical workers last negotiated may 21
in the first quarter of 1986 the refining and marketing segment showed a loss of 271 mln dlrs on revenues of 4921 mln dlrs
the selling concession is 85 basis points while management pays 70 basis points
the usda report said that so far the el nino now being experienced has not had an overall negative impact on agricultural production
in 1983 zaire set out on a major economic reform aimed at curbing its soaring debt
investment in cable operations would total between 150 mln and 200 mln over the five years with the aim of widening the audience to 280000 subscribers from 12000 and boosting turnover to around 450 mln francs a year from 10 mln
the company now has 11928871 shares outstanding
aetna life and casualty co said it filed a shelf registration with the securities and exchange commission for the issue of 200 mln dlrs of debt securities
president kjell nilsson announcing the 600 mln crown deal told a news conference boliden would now become a truly international concern with operations in brazil chile and other big minerals producing nations
the export of the sugar or products must occur before octoer 1 1991
telecom plus international inc said it has received all regulatory approvals needed to change its name to tpi enterprises inc
ford motor co selected scicon corps systems control unit to install a manufacturing automation system at fords hermosillo mexico plant scicon said
the state owned copper company of chile codelco produces around 90 pct of the countrys copper output of some one mln tonnes per year
two affiliated investment firms told the securities and exchange commission they have acquired 593000 shares of midway airlines inc or 77 pct of the total outstanding common stock
of that the securities operations of prudential bache netted 817 mln dlrs after taxes and a charge of 25 mln dlrs
us vegetable oil products output in february
computer associates founder and chairman charles b
united artists uacio suspends merger talks
gardenamerica corp gaco secondary offering of 489764 shares of common stock through montgomery securities
the central bank will have 10 days to decide whether to issue the required foreign exchange
rexnord said the sale is part of a major program to divest several of its businesses representing about 200 mln dlrs in net assets
economists in hong kong told that chinas controls on scarce foreign currency hurt its imports of taiwanese consumer goods such as electric fans and television sets
we need to find new business chances komatsu said
todays modest half point cut in uk bank base lending rates to 10 pct signals the bank of englands determination to maintain a cautious monetary stance but financial markets appear set to force its hand analysts said
the indonesian rupiah has held steady since its 31 pct devaluation against the dollar six months ago but has slipped against the mark and to a lesser extent against the yen according to central bank figures
armtek arm unit leveraged buyout completed
the settlement also calls for the withdrawal of edelmans motion to intervene in pending shareholder actions against lucky stores and its directors the company said
the ministrys parliamentary state secretary ludolf georg von wartenberg told a business conference german exports could start rising again in real terms during 1987 reversing the lower export trend which emerged in mid 1986
the senators including senate finance committee chairman lloyd bentsen d tex max baucus d mont david pryor d ark john melcher d mont and thad cochran r miss also may fold into the trade bill a measure to shield pork producers and processors from canadian imports
for the year earnings rose to 769 mln dlrs or 326 dlrs from 731 mln or 318 dlrs
the treasury said it proposed allowing the temporary imports because it felt congress had not intended when it passed the comprehensive south african sanctions bill last fall overriding president reagans veto to hurt us industry
it certainly hasnt been what we had hoped it would be
the biggest output rises in the 12 months to end january were 2368 pct in pharmaceuticals and 2212 pct in machinery
barclays de zoete wedd sets up amsterdam office
the five year deal pays 4 3 8 pct and features a put and call option at par after four years
rod canion president and chief executive officer of compaq said he expects sales of over 200 mln dlrs for the period ending march 31 above analysts estimates of 165 185 mln dlrs
mixed asian reaction to new rubber pact
woolworths is unrelated to the us group fw woolworth zn it has been the subject of takeover speculation since industrial equity ltd acquired a 20 pct stake last year
the committee also voted for legally binding quantity and quality requirements on the materials mostly metals
the conversion price was set at 557p representing a premium of 143 pct over the stocks closing price for the last three business days of 496p
oak industries said it will commence an exhcange offer for any or all of certain of its debentures and notes
ecuador said on friday that 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
the official saudi press agency quoted him as saying his talks at riyadh with nazir had been constructive and good
as a result the company said it has 6922949 shares of common 155009 shares of preference stock which are convertible into 1149681 shares ov common and 2690877 shares of preference stock convertible into a like number of common shares
there is a 1 8 pct praecipuum
in other news us home said its shareholders approved an amendment to its companys certificate of incorporation relating to the liability of the companys directors
national westminster bank says it cutting base lending rate to 105 pct from 11 pct
the department said producers of wheat other than winter wheat may use the 0 92 option if they were preventedf from planting their intended acreage with wheat for harvest in 1987 because of any natural disasters which occured in 1986 or if the farm is located in a county approved by farmers home administration for emergency loans for such disasters that occurred in 1986
the government is assuming the price of oil will average 15 dlrs a barrel in line with its earlier forecasts and its oil revenue calculation is based on an exchange rate remaining close to current levels the treasury document said
a senior bank official who declined to be named told the reserves were likely to reach 72 billion dlrs at the end of the year
strathcona resource srhto 3rd qtr aug 31 net
sumitomo bank aims at quick recovery from merger
saudi arabian business leaders assembled for a conference aimed at thrashing out problems facing the private sector of the kingdoms oil dependent economy
both shipments are c and f taiwan and are set before march 16 the spokesman said
this represents just over 54 pct of the outstanding shares on a fully diluted basis
grumman said it will design develop and build the ailerons rudders and elevators for the transport
after the offer southmark will retain about 82 pct of the 11 mln outstanding common shares of national heritage which operates 201 long term nursing care facilities
chemical industry production which fell by 09 pct last year was likely to stagnate or decline by one pct in 1987
ford motor credit co f is raising 200 mln marks through a five year eurobond with currency warrants attached carrying a coupon of 5 3 4 pct and priced at 116 3 4 lead manager deutsche bank ag said
in lusaka business went on as usual and there was no sign of troops or police reinforcements on the streets
they would however be reflected in the assignment of risk weights
money market analysts cited the debt renegotiation as the main impetus behind increases today in both the commercial and financial rand
their plan would perpetuate the status quo allowing brazil to retain almost all of its current 30 pct share of the export market colombia 17 pct ivory coast seven pct and indonesia six pct with the rest divided among smaller exporters
energy secretary john herrington said he will propose tax incentives to increase domestic oil and natural gas exploration and production to the reagan administration for consideration
debenture holders can convert the securities into the companys common stock at 12976 dlrs per share until the close of business on april 17 patten said
orders will be strong for about two months and there are signs that some order rates are starting to dive already but dean witter reynolds inc analyst clarence morrison sees some short term potential in the group which includes usx corp x bethlehem steel corp bs armco inc as and inland steel industries inc iad there is still some attractiveness to steels over the short to intermediate term based on improved order rates and rising prices morrison said
canadian imperial bank of commerce has committed up to 340 mln dlrs in senior debt financing it said
bomb threats strikes as fiji sees end trade ban
that showed the pact involved multilateral cooperation by central banks to foster currency stability they said
if the notes are not redeemed at that time they will be non callable to maturity
unemployment was likely to rise to almost six pct from 52 pct last year due to the slack economic activity
since 1983 84 he said world oilseed stocks have increased 131 mln tonnes
we should remember we are paying something like seven to eight billion dollars simply to service our foreign debt and that is not going to go away in the near term buttrose said
the banks exposure in latin america was less than two pct of its total foreign credit and in africa less than one pct
texacos filing had little if any effect on junk bond prices this morning
however s and p said it is less clear whether grace can also extricate itself from the project debt from its phosphate mining joint venture at four corners
banks were well stocked with liquidity having 471 billion marks in minimum reserves at the bundesbank on friday up from 499 billion on thursday
chinese nearby april rises to 90000 yen from 70000
the china daily said the factory has produced high quality general brand cigarettes using advanced machinery and technical assistance worth 25 mln dlrs donated by rothmans under a co operation agreement signed in 1985
advanced also said it has named executive vice president steven b
big us conservation enrollment expected
in a filing with the securities and exchange commission the group said it holds 2711000 shares of media general commons stock purchased at a total cost of about 1083 mln dlrs
canadian foremost continues macedon sale talks
but does this mean the end of tightening for the time being definitely yes economists said average adjusted discount window borrowings of 385 mln dlrs for the latest two week bank statement period were lower than they had expected
huge oil platforms dot the gulf like beacons usually lit up like christmas trees at night
the bank of england said it revised up its forecast of todays surplus in the money markets to 250 mln stg from its earlier estimate of a 150 mln
ullman said washington should join moscow in a diplomatic initiative to end the war and the superpowers should impose an arms embargo against tehran if it refused to negotiate
shell canada ltd 72 pct owned by royal dutch shell group is at 40 1 2 up from a low during the last year of 18 3 4
uk jan industrial output rises 04 pct manufacturing down 23 pct official
however some analysts said a 10 to 12 mln acre sign up may end up being negative to new crop corn prices citing trade talk earlier this year that 14 to 15 mln acres may be submitted by farmers
frank naylor chairman of the farm credit administration fca which regulates the farm credit system yesterday said a farm loan secondary market would be positive for agriculture as long as the farm credit system is a key player naylor told a house agriculture subcommittee hearing the secondary market could be established either with congressional legislation or administratively
in a speech to a womens group here johnson said there is room for stronger domestic growth in those countries strong enough to absorb growth in us export markets johnson also said there was a better alignment of exchange rates now and the paris agreement to stabilize currencies has brought western nations a long way towards establishing that goal
national australia bank ltd nabas said it lowered its benchmark prime lending rate to 1825 pct from 185 effective today but left its base rate at 185 the benchmark reduction brings the rate into line with the prime rates of most of australias trading banks including those of two of the other three major trading banks
john lichtblau president of the petroleum industry research foundation inc in new york in recent testimony to congress said the continuing decline in us oil production is virtually inevitable under any realistic price scenario
federal industries ltd said it launched a 40 mln canadian dlr eurobond issue for five years bearing a coupon of 9 1 4 pct
the iwc said the area harvested for wheat in 1987 88 is likely to be down from last year as low world prices and restrictive national policies measures begin to take effect
i certainly look on the future in a positive way
though this was above the march requirement of 507 billion actual holdings at the weekend were 442 billion
lawson says uk interest rate prospects unchanged
ny tankers april 7 ashland took majestic pride 45000 tons dirty april 12 east coast mexico to us gulf worldscale 120 frota took fidelity l 49000 tons dirty april 21 brazil to united states worldscale 118 cpc took eisho maru 220000 tons dirty april 12 mideast gulf to taiwan worldscale 35 citgo took friendship venture 67000 tons dirty april 16 caribbean to us gulf worldscale 89 msc took loire 52000 tons dirty april 10 east coast mexico to us gulf worldscale 925
the balanced budget in 1986 totalled 138005 billion won
the company said a detailed disclosure of an acquisition offer must be made to the panamanian national securities commission or to the targets board before acquiring more than five pct stake
texaco said it filed for chaper 11 because suppliers were demanding cash payments and banks were withholding loans as a result of a legal dispute with pennzoil co pzl texaco is fighting a texas law requiring it to post a bond of more than 10 billion dlrs before it can appeal a 1985 judgment that ruled it illegally interfered with pennzoils 1984 acquisition of getty petroleum corp gty the bond almost matches the damages awarded against texaco
speculation that darts offer of 4175 dlrs per share could be just the beginning of a bidding contest helped supermarkets shares gain one to 42 1 8 on 23 mln shares
brazilian press reports made much of the fact that finance minister dilson funaro chief architect of the governments economic policy had not been invited to the gathering
panamanian wheat ship still grounded off syria
peruvian president alan garcia said his government was not trying to convince other nations to follow its decision to limit foreign debt repayments
ultimately this would lead to a rise in us imports
mizuno corp of osaka is issuing 30 mln swiss francs of five year notes with a 4 5 8 pct coupon and 100 1 8 issue price lead manager swiss bank corp said
the government had already dispatched more than 1000 marines to occupy the countrys main ports after a national seamens strike was ruled illegal last friday
fairfax earlier reported net earnings edged up 23 pct to 2594 mln dlrs in the 26 weeks ended december 28 from 2535 mln a year earlier although pre tax profit rose 91 pct to 4830 mln from 4429 mln
because of department of transportation rules twa also said it put its usair stock into a voting trust with fleet national bank as the voting trustee
this sale will fulfill the requirements under our bank agreements to sell certain assets by june 30 and give us additional flexibility in the disposal of the remaining divisions being sold allied stores is required to pay 200 mln dlrs in bank debt by june 30
southam inc said its flyer force unit acquired three community newspapers in winnipeg with a combined circulation of 65000 for undisclosed terms
the companies said they would jointly own the hotel and rename it the four seasons biltmore at santa barbara
swire pacific ltd swpchkg year 1986
treasury minister giovanni goria said at a news conference the new certificates will be heavily discounted and aimed at small investors rather than institutions
bevis industries seeks buyer for company
however there are considerable indications that farmers are reluctant to plant cane because its economic return is not as good as that of other crops
in dar es salaam tanzanias agriculture and livestock development minister paul bomani said today third world countries would suffer from the failure of the london coffee talks
us government and industry officials have complained repeatedly that japanese chipmakers continue to sell at below cost to third countries despite the july agreement
the bank will not offer any 26 week notes for tender next week
the world bank said it approved two loans to mexico totalling 205 mln dlrs to provide financial assistance to industrial companies and finance a project dealing with agricultural extension services
famous restaurants inc fams 4th qtr loss
the trick is in convincing european borrowers it is worth arranging a program and having accomplished that to persaude european investors whose preferences differ from their us counterparts to buy the securities
us trade representative clayton yeutter said he hoped the us dollar would continue to decline in relation to the currencies of taiwan and south korea as a way to improve the us trade picture
the rise in oil prices in late 1986 had little impact on the companys fuel oil bill last year as aviation fuel prices usually lag behind crude price movements by several months analysts said
shr profit two cts vs loss 260 dlrs net profit 111000 vs loss 169 mln nine mths shr profit 19 cts vs loss 280 dlrs net profit 1261000 vs loss 181 mln
he added that the firmness of oil prices in march when they were normally weaker made him a bit encouraged about the prospects for future levels
payless cashways pci sees better first qtr
i think the paris agreement represents evidence that international economic policy co ordination is alive and well baker said
as long as lillys stake in liposome is below five pct it is not required to report any further dealings it has in the companys stock
the move is part of our government efforts to encourage imports from our trading partners particularly from the united states he said
canada plans 4 part 12 billion dlr bond issue tuesday official
conditions on the floating rate note market appeared to be returning gradually to normal today with prices static to a little better generally dealers said
frank b
the index base 1980 equals 100 registered 1731 in february compared with 1728 in january
moodys said this reflected the strengthening of terms in a revised net worth agreement between gemico and its immediate parent general electric credit corp whose long term unsecured debt is also a top flight aaa
those exports of the single most important commodity carried on the waterway have been depressed by world surpluses
the two consortiums international digital communications planning inc idc and international telecom japan itj were set up in 1986 to compete with monopoly kokusai denshin denwa co kdd after the market was deregulated in 1985
fish said the pact that was rejected contained a cost of living increase tied to the canadian consumer price index but no wage increase
he gave no figures for the amount of palm oil to be imported but said it would come from malaysia
lloyds bank matches base rate cut to 105 pct
lyngs comment came after ec ministers in luxembourg endorsed a farm reform package drafted by the ec commission
oshmans sporting goods inc said earnings for the fourth quarter ended january 31 were affected by the weak economies of texas oklahoma and louisiana resulting in a drop in net earnings to 5415000 dlrs or 92 cts a share from 7730000 dlrs or 128 dlrs a share for the year ago quarter
the higher prices will stick because its japanese competitor komatsu has had to raise prices because of the increased value of the yen he said
shr loss 18 cts vs loss 89 cts net profit 161000 vs loss 5938000 assets 343 billion vs 346 billion deposits 268 billion vs 267 billion loans 145 billion vs 164 billion note shr data after payment of preferred dividends
harcourt said in a statement this week that salomon brothers inc sb and mutual shares corp have intervened in the case claiming ownership of more than 30 mln dlrs face amount of the debenture
taiwan 1986 balance of payments surplus is record
japan march money supply rises 90 pct
international thomson organization ltd said it planned an issue in all of canada except quebec of two mln 185 dlr cumulative redeemable retractable series one preferred shares
pentair pnta offering under way
hyponex hypx sells debentures at 11828 pct
the plants produce only basic commodity petrochemicals that are the building blocks of specialty products
vornado inc vno 4th qtr jan 31 net
calendar 1987 production is likely to fall to around 20000 tonnes from 22000 in 1986 as a result of the first quarter reduction he said
roderick in response to a question said usx had no immediate plans to restructure its marathon oil co or texas oil and gas corp
the ussr has purchased 10 mln tonnes of us corn for delivery in the fourth year of the us ussr grain agreement
it said it expects to meet analysts projections of earnings for the full year of 150 dlrs per share and it could possibly exceed the estimate if orders continue strong
the merger will bring suburbans assets to 661 mln dlrs and its total banks to 13
general mining union corp ltd genmj year net
us agriculture secretary richard lyng has asked japan to open its farm market further to help washington cut its trade deficit and ease protectionist pressures an agriculture ministry official told reporters
el salvador and guatemala both backed brazil and colombia at the london talks in resisting pressures for quotas based on objective criteria
qtly div 30 cts vs 30 cts prior qtr pay 15 april record 1 april
the issue is rated a top flight aaa by standard and poors corp
this has given added urgency to bank moves to build up their capital market operations as turkeys market oriented prime minister turgut ozal liberalises the financial system
the new debt settlement scheme entails a rescheduling of problem credit over 10 to 15 years depending on whether debtors have regular cash flows or not
ambassador financial group inc said its ambassador real estate equities corp agreed to buy heritage quality construction co inc
the suppliers they said could force trailways into bankruptcy at any time trailways also owes a consortium of banks 76 mln dlrs and the consortium has threatened to call the loan if trailways fails to pay the interest due june 30 they said
in addition to making specialty metal products cyclops also operates about 115 specialty stores that sell consumer electronics products
traders said the business was done at 2355 dlrs a tonne cost and freight
political leaders have said the budget will not hurt ordinary people as taxes on basic food and other essential goods are unlikely to change
commerce and planning minister mahbubul haq said in a televised speech it was also decided to allow duty free import of cotton yarn
us negotiators were successful in getting other members of the pact to agree that the price review and adjustment mechanism of the rubber agreement would accurately reflect market trends and also to continue the accord as a market oriented agreement us officials said
the jeddah based islamic development bank idb said in an annual report its loans during the last islamic year fell 24 pct due to world economic recession
sycamore has 111 womens apparel stores in indiana ohio illinois kentucky and michigan may said
the seasonally adjusted permits total in february for single family units was 1235000 and for multi family units was 529000 units
anthes industries inc 4th qtr net
twenty seven people were killed and 18 injured when an indonesian airliner flew into electricity lines and tumbled to the ground in an explosive ball of fire airport officials said
proceeds will be used to retire existing bank debt for working capital and to retire a portion of its outstanding 12 pct debentures
there was no immediate comment from pdvsa officials in new york
the new zealand government borrowed 100 mln stg on the eurosterling market to refinance a loan of the same amount maturing in june finance minister roger douglas said in a statement
den danske bank af 1871 a s said it was issuing the first certificates of deposit from a danish bank and that the cds will be for six nine and 12 months or a negotiable period
montgomery street income mts monthly dividend
housing starts fell 27 pct in may and consumer spending rose a weak 01 per cent
president aquino has shown her ability to pull the nation out of one crisis after another roeher said foreign investment would probably be held back until after the congressional polls in may and the local elections in august
the extraordinary loss conformed with new canadian institute of chartered accountants guidelines that require dome to use average 1986 oil prices to value its holdings instead of an escalating price method used in prior years
providence energy corp pvy regular dividend
new york coffee futures for may delivery settled 229 cents lower thursday at 10468 cents a lb while more distant deliveries fell the six cent maximum trading limit
dillard dept stores inc dds declares qtly div
niedermeyer said the government export credit guarantee program gsm 102 administered by the usda was the key to opening the iraqi market which up to now had been captured by scandinavian lumber producers
it said imf managing director michel camdessus made the pledge during talks with moi in washington yesterday
labour minister almir pazzionotto said the government will not force a settlement of the strike which was ruled illegal last friday
in 1986 belgiums gross national product rose 215 pct in volume terms against a 59 pct nominal rise
the company said it has obtained waivers from holders of its six mln dlrs principal amount of debentures due march 31 1993 to defer interest payments aggregating 270000 dlrs through march 31 1987
taking the two months together the seasonally adjusted surplus was slightly below the figure for the previous two
the trustees had indicated that it intended to sell enough of the convertibles nil paid to enable it to take up the remainder
ccc accepts export bid for wheat flour to iraq
he said an export credit of 250 mln dlrs had been provided for the export of engineering goods to selected third world countries on soft credit terms
third qtr 1986 includes extraodinary tax gain of 270000 from early extinquishment of certain drafts payable
shr profit five cts vs loss 211 dlrs net profit 375061 vs loss 104 mln revs 399 mln vs 378 mln avg shrs 6536008 vs 4939895 12 mths shr profit 47 cts vs loss 337 dlrs net profit 2837288 vs loss 166 mln revs 1691 mln vs 1494 mln avg shrs 6037640 vs 4937378 note primary earnings per share are based on the weighted average number of common and dilutive common equivalent shares outstanding during each period after accounting for preferred stock dividends
details were not disclosed
legal advisers have been instructed to implement the amalgamation of the london potato futures association lpfa the london meat futures exchange lmfe and the grain and feed trade associations gafta soya bean meal futures association somfa
the sale price was not disclosed
under the louvre accord west germany and japan who both have large trade surpluses pledged to boost their economic growth to take in more exports from the us while the us agreed to stop talking the dollar down
spcs price revision follows the ministry of trade and industrys move to liberalise petrol pricing by allowing oil companies to set their own pump prices
basf corp year net
bond corp has no comment on allied speculation
tunisia buys 150000 tonnes french wheat
mauritian sugar exports fall in february
ual jumped five to 70 3 4 on volume of more than 32 mln shares
finance minister mark eyskens who currently presides over the ecs council of economic and finance ministers has called the issue a political act of symbolic value which aimed to make the communitys goal of monetary integration more concrete
coastal cgp seeks ok of transamerican plans
but bankers said the high real interest rates on offer now around eight pct for overnight funds was attracting money from abroad strengthening the peseta and making spanish exports less competitive
the figures may be distorted as many german investors buy gold bullion in switzerland or luxembourg to escape the 14 pct value added tax imposed here
non callable for two years the debt is rated ba 1 by moodys and bbb minus by standard and poors
pnc financial pncf unit upgraded by moodys
shr eight cts vs one half ct net 508000 vs 21000 revs 72 mln vs 74 mln nine mths shr 28 cts vs 11 cts net 1523000 vs 567000 revs 262 mln vs 226 mln note period ended february 28
shr loss 35 cts vs loss seven cts net loss 718269 vs loss 145216 revs 1394080 vs 2608083 note full name of company is standard bred pacers and trotters inc
the debenture is convertible to one mln common shares of first toronto for a period of five years
western digital corp said its 47 mln dlrs of 6 3 4 pct convertible debentures due 2011 which had been called for redemption were converted into 2685142 common shares
the split will be effective after completion of filing requirements it said
bhp will subscribe for the remaining 540 mln shares or 56 pct of issued capital on the same terms
bankamerica bac may reclassify brazil loans
oper shr loss three cts vs loss one ct oper net loss 1796000 vs loss 381000 revs 2501000 vs 2695000 six mths oper shr loss eight cts vs loss four cts oper net loss 3235000 vs loss 1123000 revs 4850000 vs 4551000 note 1987 net excludes 2nd qtr extraordinary gain of 87 mln dlrs or 154 dlrs shr from sale of 51 pct stake of mascot gold mines ltd msgto full name royex gold mining corp
the official who asked not to be named told that the guarantee was given in an unpublished clause of the agreement
a spokesman for the indonesian importers association also denied knowledge of the import plan
fletcher challenge disappointed at nz forest moves
additional influences next week will be possible developments ahead of an opec members meeting and the impact and size of the us budget deficit although these will not be in the forefront of the market early next week kahan said
cross and trecker said it agreed to acquire the alliance automation systems division of gleason corp gle for an undisclosed amount of cash
we expect the declaration of our unified position to have a positive effect he said
herrington said such a plan would cost 200 mln dlrs a year
speaking after talks with the committee here gros also said he did not expect to make interest payment to the banks at this moment
the ministry previously revised pump prices and announced the changes for the oil companies
bangladesh sugar production almost doubles
global raises heavy fuels prices
quotes included delivery this week on the illinois river joliet 135 pct of tariff bid 140 offered with next week same river ex chicago quoted the same both up 2 1 2 percentage points
shr profit 15 cts vs loss six cts net profit 1051000 vs loss 381000 revs 508 mln vs 418 mln avg shrs 703300 vs 6557000 note 1987 net includes tax credits equal to six cts vs one cent in 1986
the market is saying that the dollar must fall further because the us trade deficit is showing little sign of improvement while japan is resisting in a bid to protect its export industries
avx was listed on s and ps creditwatch with negative implications on december 17 1986 because of the proposed acquisition
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
subsequently revlon withdrew its offer sold back to gillette the shares it owned at that time and entered into the standstill agreement
federal reserve board chairman paul volcker said international policymakers should make improving the stability of exchange rates a major priority
the issue was increased from an initial offering of 35 mln dlrs
the first was for 310 mln dlrs
the government estimates it will take about four more months to repair the lago agrio to balao pipeline and return output to normal levels the spokesman said
thus a saving of prt of 100 when field development starts will have to be matched by a rise in prt of 135 at a later time
a report from new york yesterday quoted bankers as saying manila will pay 111 mln dlrs over 1987 1988 and 1989
computer assoc
readers digest association sells unit
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
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
the heavier wilmington grade at 17 degrees was increased 120 dlrs to 1430 dlrs bbl
clones not resistant to the disease are the rubber research institute of sri lanka clone 103 indonesias ppn 2058 2444 2447 and pr 265 and malaysias rrim 725 he said
the us departments of agriculture and transportation are close to agreement on how to fund the increasing share of food aid to be shipped on us flag vessels under a 1985 farm bill provision on cargo preference
the taxes levied on the tin mines rose to 44 pct this month from 11 pct ad valorem over the past year
cook is negotiating with its bank lenders and private sources for a borrowing facility to relieve its current working capital requirements
norcros plc ncrol the building products and packaging group said its board had no hesitation in unanimously rejecting this mornings 5422 mln stg bid from williams holdings plc the industrial holding firm
shr 70 cts vs 47 cts net 4185000 vs 2433000 sales 529 mln vs 357 mln avg shrs 6000000 vs 5200000 year shr 120 dlrs vs 71 cts net 6759000 vs 3717000 sales 1304 mln vs 853 mln avg shrs 5622000 vs 5200000
grain from the great lakes to algeria made 28 dlrs against 2775 paid for similar fixing towards the end of march
basic reform of japans protected farm sector is a key to shifting its economy away from export to domestic led growth a vital step if it is to trim its trade surplus securities analysts said
he said his only two recommendations currently among new york banks are jp morgan and co ltjpm and bankers trust co bt which happen to have the least exposure
prices showed gains to 1 8 to 3 8 point across the board
the company said both agreements in principle have been approved by directors of the companies involved but still need court regulatory and lender approval
last year the soviet union produced 615 mln tonnes of oil slightly short of the target of 6167 mln
purolators courier business has been lagging that of its us rivals because of the high price it paid in the past several years to add air delivery to its ground fleet
the king also urged the world community to help the palestinians return to their homeland and called for a peaceful end to the iran iraq war
a similar measure was decisively defeated on the senate floor last week
poland has a dwindling trade surplus with the west
comb cmco to acquire rest of cable value
heldor industries hldr 1st qtr loss
japanese shoppers pay an average of 2714 dlrs for a us tenderloin steak in a restaurant and an average of 4742 dlrs for a japanese produced restaurant steak the meat association said
exports to developing nations and centrally planned economies also slackened
the british printing and communication corp plc bpll is considering selling its specialist packaging and labelling operations a spokeswoman said
the option is not exercisable until april 12 1988 it said
dutch soymeal imports fall in january
amoco an says dome dmp buy good for canada
pre tax profit 400 mln stg vs 380 mln
hong kong raises exchange fund borrowing limit
sumita said he could not find any specific reasons behind the fall of the dollar to a record low against the yen yesterday
pennzoil had asked texaco to post a 56 billion dlr cash bond and to reduce its dividend to not more than 50 pct of earnings
deficit on net income and unrequited transfers was 646 mln dlrs against 736 mln in january and 543 mln a year earlier
after the lifting of us sanctions against the polish economy we considered all political obstacles had been removed but that has not been the case urban said
share analysts said swire will set a 36 cent final dividend for its a shares making a total of 54 cents after 47 cents adjusted for a two for one bonus issue in 1985
the commodity credit corporation ccc has reallocated 150 mln dlrs in credit guarantees to turkey previously earmarked for sales of us oilseeds to provide coverage for sales of us protein meals in fiscal year 1987 the us agriculture department said
these factors and south africas unstable political situation which may lead to a temporary reduction in gold supplies from that country underline the firmer sentiment it said
chi chis said it believes the disposition of the restaurants has the potential of increasing its pretax earnings by about two mln dlrs next fiscal year
president corazon aquino said the philippines was closely monitoring interest rates in the wake of mondays record drop on wall street and steep declines in manila and other asian stock markets
the federal agency said that in december oil production fell 40 pct to 773 mln cubic meters while exports rose 52 pct to 284 mln cubic meters and imports rose 123 pct to 21 mln cubic meters
that should end speculation and remove at least one excuse for hoarding dollars aquino said
grain usage fell 61 pct to 11 mln tonnes from 12 mln while soymeal usage fell 10 pct to 967000 tonnes from 11 mln
the underlying rate of inflation was now two pct not the reported negative inflation rates last year and west germany was affected more than before by exchange rate developments
seipp says german interest rates should fall
national beverage to acquire faygo beverages
the bank of france said it cut its money market intervention rate to 7 3 4 pct from eight pct when it injected money against first category paper
for two years the markets had hailed the dollars decline as the cure all for the us trade deficit
some trust bank pension fund acccounts and investment trusts were seen selling several hundred million dollars on the foreign exchange market here today accentuating the units tumble securities house dealers said
it attributed the decline in new work to more stringent bidding standards and a competitive market
the one page statement noted the international monetary fund expressed confidence in argentinas economic policies and prospects by approving a new stand by financing arrangement for it on february 18
bankers said the request is a legal nicety since the money is subject to the moratorium
rep
at a recent meeting in managua of latin american producers costa rica and honduras said they were willing to put their objections as members of the group of eight ico dissident producers aside in order to stem the damaging decline in prices nicaraguan external trade minister alejandro martinez cuenca told reporters saturday
the european communitys cereal management committee rejected all bids to export free market soft wheat at todays weekly tender traders said
on the other hand a lack of any future market improvement may necessitate their permanent closing it added
government borrowing stood at 926 billion dlrs for calendar 1986 against 315 billion for 1985
cash flow 572 billion francs vs 670 billion
icco council chairman and ivorian agriculture minister denis bra kanon said the new rules have a good chance of stabilizing prices
the price changes should lead to a pickup of pik and roll activity klopfenstein said
harsco corp hsc sets regular payout
1986 items include settlement of patent suit and provision for investment writeoff and 1985 item provision for loss on sale of scale business
he also said calls by two of its container ships to busan south korea and kaohsiung taiwan had been cancelled
shr loss 67 cts vs loss seven cts net loss 2410000 vs loss 245000 revs 110 mln vs 109 mln 12 mths shr loss 21 cts vs profit 43 cts net loss 748000 vs profit 1571000 revs 469 mln vs 405 mln
manufactured homes inc mnh year net
gulf and western incs publishing unit simon and schuster said it agreed in principle to acquire woodhead faulkner publishers ltd a british based publisher of professional and consumer books for undisclosed terms
tender loving care said it and staff builders have filed a revised registration and proxy statement with the securities and exchange commission
canada industrial prices up 02 pct in month
orders to be shipped beyond 12 mths were 276 mln dlrs vs 171 mln dlrs at december 31
government to sell 25 pct of air new zealand
showboat has saiud it expects to open for regular gaming on friday
kodak said there is no specific need at this time
the company said the agreement also gives cnn the right to sell advertising spots on china central tv
showers improved irrigation supplies in winter wheat areas of northern pakistan and northern india it said
a majority of australian manufacturers expect a deterioration in the business climate according to the march survey of industrial trends by westpac banking corp and the confederation of australian industry
total gold and currency reserves rose 173 mln guilders to 564 billion guilders
we are aiming to reduce production in japan but of course this takes time he said
he said that morgans recent rise in its prime lending rate was purely a reflection of an increase in a whole spectrum of rates preston reiterated earlier company forecasts that the us economy should show roughly 25 to three pct real growth this year
robert halmi inc said it has received a commitment for a five mln dlr revolving credit line from wells fargo and co wfc it said it will use funds for the development and production of television programming
dri estimates that foreign demand for italian products should grow by a 32 pct this year following last years 62 pct increase
ball began supplying blanks to the san francisco and west point mints in 1981 when the pennys content was changed to zinc from copper
there is no reason to believe the paris pact has broken down a senior dealer said
loading of a 50000 tonne cargo on the soviet freighter nikolay kuznetsov for shipment to odessa was completed today at the lucinda terminal he said in a statement
strike to close new zealand ports on monday
widespread domestic price rises in response to rising import prices would generalize the inflationary forces emanating from the foreign trade sector and might not gain more market share for us producers
he felt that the us recovery inching along in its 59th month could no longer be the only engine of global economic expansion
subroto said that as he was not a member of opecs price differentials committee he did not know why the meeting had been postponed from its scheduled april 2 date
aetna life and casualty co said it reached an agreement to acquire a 49 pct interest in universal life and general insurance sdn bhd ulg a malaysian composite insurance company
but the chrysler source said that in assuming amcs liabilities his company will refinance at a lower rate any amc debt that is being carried at non market rates
british prime minister margaret thatcher has personally taken up the companys cause charging that japan is discriminating against foreigners
six months net includes gain from discontinued operations of 104000 dlrs or three cts a share versus a loss of 588000 dlrs or 15 cts a share in the prior six months
he also said the company was hiring new workers
shr three cts vs 16 cts net 127000 vs 605000 sales 144 mln vs 9726000 six mths shr 17 cts vs 30 cts net 678000 vs 1141000 sales 246 mln vs 192 mln
shr profit seven cts vs loss 16 cts net profit 2144000 vs loss 4110000 sales 1213 mln vs 203 mln avg shrs 294 mln vs 253 mln note current year net includes pretax gain on sale of product line of 114 mln dlrs and charge 4711000 dlrs posttax on expensing of a portion of unamorized debt issuance costs of unit
vse corp vsec 4th qtr net
nz april current account deficit narrows
the 350 mln ecu three year package of social and structural measures agreed early today by european community farm ministers features a plan to compensate farmers for reducing output of certain surplus products ec commission sources said
the bank of england said it has revised its estimate of todays shortfall to 750 mln stg from 700 mln
the eight year bond which will be issued at par will have a payment date of april 28 and will increase bulls capital by 12 billion francs in 1989
the officials could neither confirm nor deny reports that venezuela will temporarily produce ecuadors entire opec quota set at 210000 barrels per day for first half 1987
he added that it would also put pdvsa in a position to purchase more government debt bonds
when completed aristech said the project would increase the plants annual production to 264 mln pounds from 165 mln pounds now
hofer said in 1982 switzerland had imposed a 56 pct gold turnover tax on jan 1 1980 but abolished it on oct 1 1986
tug crews in new south wales nsw victoria and western australia yesterday lifted their ban on foreign flag ships carrying containers but nsw ports are still being disrupted by a separate dispute shipping sources said
yeutter in new zealand for informal gatt ministerial talks told bilateral trade disputes are increasing because the multilateral system is inefficient
exports to organisation for economic cooperation and development countries rose to 429 billion dlrs from 411 billion in 1985 while imports were 456 billion after 355 billion
the order requires that until 1989 cooper must get ftc approval before acquiring companies in the natural gas compressor or hand held industrial pneumatic tool businesses
instinet said the filing of the preliminary merger proxy materials is tied to the finalization of audited financial statements of instinet and for 1986
he said news of strong growth in exports of non oil goods confirmed recent bullish surveys among members of the confederation of british industry
deforestation would wipe out the chance of further discoveries and force major corporations to research develop and produce man made substitutes at a cost which scientists say is incalculable
the san jose winery is expected to be sold it added
lyng said the united states would oppose parts of the plan seeking a market sharing agreement for grains and proposing curbs on us soybean and cereal substitute exports to europe
boliden takes over allis chalmers division
they argue that the pound is being perceived as a safer bet than the dollar given the latters recent sharp falls and current political upheavals in washington
money market dealers said that overnight call money rates would rise in the near future in any case and did not depend on a politically inhibited bundesbank
bowater industries profit exceed expectations
it would take about 100 mln us dlrs to repair the pipeline the official who did not want to be named told 
qtly div five cts vs three cts prior pay april 10 record march 31
the company said the bid was rjected in favor of a higher offer
it is guaranteed by the bank of nova scotia
cie bancaire in one for five bonus share issue
girardin said the lira is expected to appreciate 14 pct against the dollar this year following last years 22 pct appreciation
because it is under fire for its human rights record the government of general augusto pinochet is unlikely to attract attention to itself by seeking to renegotiate its recent debt package which carries interest of one pct bankers said
but a report that the soviet union planned to reduce the price of its crude oil exports may pressure the market friday said nauman barakat petroleum analyst in new york with smith barney harris upham and co
elsewhere in the far north and the far south of the state and in northern new south wales the cane crop is looking very good after heavy falls this month he said
us calls for greater gatt checks on trade
computer identics corp cidn 4th qtr
total west german consumption was estimated at around a high 287000 tonnes largely reflecting attractive prices
as a result they have attracted complaints from a business community that says it is starved of funds while the government is criticising it for not playing a larger role in the economy
lucky stores said the arrangement also calls for the company to submit to stockholders at a special meeting set for december 31 a proposal from edelman seeking their views concerning repeal of a charter provision that limits the voting power of substantial lucky stockholders
steel technologies inc said it agreed to form a 50 50 joint venture with mitsui and co ltd to make steel products
us march jobless rate fell to 66 pct
domestic consumer spending is not expected to offset the decline in export growth caused by slowing growth in west germany the main dutch trading partner and the lower dollar pierson said in its february economic outlook
shr 89 cts vs 68 cts net 1160 mln vs 881 mln revs 117 billion vs 9240 mln 12 mths shr 117 dlrs vs 93 cts net 1522 mln vs 1198 mln revs 244 billion vs 197 billion note net 1986 were restated to reflect three for two stock split on june 27 1986
twa filed a revised application today following the dots rejection friday of an incomplete application filed last week
the lme also has a much more viable liquidity base for a new contract compared to the comex market in new york where high grade aluminium futures are not particularly active they said
york financial yfed splits stock
producer delegates were meeting to examine a colombian proposal to resume historical quotas from april 1 to september with a promise to define specific new criteria by which a new quota system would be calculated in september for the new crop year they said
chubb corp cb completes acquisition
maybe they have some ideas or plans said chronowitz
ing
it means they could become interest free loans if the korean currency continues to rise in value he said
two executives of a memphis tenn investment advisory firm told the securities and exchange commission they have acquired 132000 shares of killearn properties inc or 104 pct of the total outstanding
harper row hpr gets expressions of interest
the unit produces 46000 barrels of gasoline components a year
in that kind of situation further sizeable depreciation of the dollar could well be counterproductive he said
my view is that the economy remains relatively strong and market participants will see that current prices are unjustified mains said
of course to move forward with these kinds of options would require reopening tax issues settled last year in the tax reform bill an approach which has not in general been favored by the administration
he added that losses incurred through loans to tin producers in the wake of the tin council crisis at end 1985 had been written off
intercare inc said it has agreed to terminate the proposed acquisition of universal care because first jersey securities has withdrawn as underwriter for a proposed offering of intercare securities
the average sales price also declined to 13825 dlrs per long ton from 14105 dlrs in 1985
standard elektrik issues australian dlr eurobond
the auditors point out as texaco has in the past the companys loss of any of several pending court decisions in this case could cause it to face prospects such as having to seek protection of its assets and business pursuant to the bankruptcy and reorganization provisions of chapter 11 of the federal bankruptcy code
fluorocarbon also said the division should boost annual sales to 165 mln dlrs from last years 98 mln dlrs
the council will meet in saarbruecken and the meeting will be followed by a news conference at around 1030 gmt
this would in turn help the market position for certain crops of which the ec is a net importer such as oilseeds peas and beans but for which the commission is now proposing severe output restrictions
as a result call money soared in active trading to around the lombard rate of five pct from 370 80 pct yesterday as banks found themselves short of minimum reserve funds
the company said about 165000 shares of tiger common stock will be issued in connection with the interest payment
canada dlr driven by foreign buyers wilson
the central bank will issue licenses to procure foreign exchange in accordance with guidelines set by the council
the acquisition is being evaluated by geodyne board members not employed by the company painewebber or any company affiliated with painewebber
furthermore as the ground surface thawed some standing water occurred in the fields
it wants 70 pct over 12 months
service resources src unit sets purchase
petroleos del norte sa petronor runs a 45000 tonne a year plant in bilbao and cia espanola de petroleos sa cepsa plans to put a similar unit onstream next year in algeciras
the dollar is expected to decline further in coming days as scepticism mounts about the effectiveness of last months paris accord to stabilise currency exchange rates senior foreign exchange dealers said
banking sources said more than half of the 20 banks hold treasury bills although the need by others to take up paper could increase demand at weekly tenders and push down allotted yields slightly
soft red 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 79 79 64 64 production 290 290 368 368 ttl supply x 369 369 432 432 domestic use 181 193 204 204 exports 120 120 149 149 total use 301 313 353 353 end stocks 68 56 79 79 note season begins june 1
on march 18 of last year the usda reported that cotton farmers in 1986 intended to plant 971 mln acres
the company had previously announced that a major us based company that it did not identify was evaluating its nicotine technology
if the icc ultimately decides not to reopen the case it is expected to reinstate the divestiture order
italian treasury announces certificate offer
coffee quota talks at the international coffee organization council meeting here continued this afternoon but producers and consumers still had not reached common ground on the key issue of how to estimate export quotas delegates said
the us owned liberian flag tanker sungari was hit in the area on thursday also believed struck by an iranian missile
the seamen have settled in general for pay rises of 120 pct with the 21 companies
the department estimated winter potato area for harvest at 11900 acres vs 11900 acres last month and 12300 acres in 1986
linear films inc said its fourth quarter earnings for the period ended march 31 will be lower than the 1235000 dlrs or 19 cts a share reported in the year ago quarter on sales of 118 mln dlrs
in addition 1700000 dlrs would have been used to repay debt
m
we have not gone from no confidence to full confidence yet commented one banker who saw the agreement as having marginal influence on fundamental economic problems
manufacturers hanover corp said its ofp inc unit acquired a dallas office building through foreclosure
but it wouldnt be good to have short term fluctuations he said
it said the investment should provide the necessary capital to complete the fda review process and provide a marketing outlet for the drugs
wellemeyer speaking to reporters at an offshore oil engineering conference also said he expected opec nations to attempt to hold prices under 20 dlrs a barrel for several years to keep industrial demand for residual fuel oil strong
american international petroleum corp aipn said it agreed to acquire for one mln dlrs the assets of a western louisiana oil and gas company
oper shr 33 cts vs 33 cts oper net 3330000 vs 2969000 revs 959 mln vs 920 mln avg shrs 8610068 vs 7603219 note 1986 net excludes extraordinary gain of 577000 dlrs or seven cts shr vs yr ago gain of 71000 dlrs or one ct shr
itoh to sell triguna stakes
the bwb cites record consumption and an eventual decline in domestic production and says government plans to lower the guaranteed price of wheat from 242 dlrs per tonne to 180 dlrs will contribute to greater import demand the usda said
the company said the exchange offer will expire at 1500 est on may one unless extended
holden brown said allied lyons plans to list its shares on canadian stock exchanges possibly later this year
total natural gas reserves fell to 482 trillion cubic feet at year end 1986 from 518 trillion at the end of 1985
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
shr loss 85 cts vs loss 88 cts net loss 2410000 vs loss 24660000 revs 240 mln vs 239 mln year shr loss 118 dlrs vs loss 81 cts net loss 3338000 vs loss 2275000 revs 1014 mln vs 1123 mln
the company said the redemption price is at 10455 pct of face value plus 4061 dlrs accrued interest from october 1 1986 to the redemption date making for a total of 108611 dlrs for each 1000 dlrs face value
the bank of zambia said it received 370 bids ranging from 1300 to 2075 kwacha for the six mln dlrs on offer
in addition the bank has proposed limits on the amount of credit risk that firms can take on with each new issue they lead manage
qtly div 30 cts vs 30 cts in prior qtr payable april 20 record march 31
pantera pant and pizza pza agree to merge
i think theres a chance well see that legislation 0 92 passed but not for 1987 crops
the main yugoslav steel producers plan to market 535 mln tonnes of steel goods this year or 150000 tonnes more than last year with 15 mln tonnes going to export
goodman fielder ltd goows of australia said in a statement that it had acquired 31 mln ordinary shares in ranks hovis mcdougall plc rhmll rhm bringing its stake in the company to 299 pct or 101 mln ordinary shares
government officials have said earlier that the more valuable class a shares would not be sold to foreigners
gidel also noted that marketings for the early part of march are running ahead of a year ago
in a filing with the securities and exchange commission wilshire which holds 417100 jacobs common shares said wilzig was appointed to the jacobs board of directors on march 3 after the companys annual shareholder meeting
brown said if the suit were settled for 10 mln dlrs it would have an impact on browning ferris earnings
bonds will be issued in denominations of 5000 dlrs and will be listed in london
federal funds which averaged 618 pct yesterday opened at 6 3 16 pct and stayed there in early trading
bangladesh passed on its weekend tender for 100000 tonnes of optional origin soft wheat private export sources said
shr profit 144 dlrs vs profit 83 cts net profit 390 mln vs profit 225 mln sales 8161 mln vs 8653 mln year shr loss 95 cts vs profit eight cts net loss 256 mln vs profit 2223000 sales 2142118 vs 2234768 note current year net both periods includes prtax provisions for restructuring operations of 4868000 dlrs in quarter and 381 mln dlrs in year
it also plans to ask for authorisation to issue up to one billion francs nominal of shares with share warrants and one billion francs nominal of warrants giving the right to subscribe to ordinary shares
mountain states mtsr addes two properties
kenyan economy faces problems president says
no employment contracts exists with the other executives the company said
james sherwood president of the company said he expects to record a loss of approximately 12 mln dlrs for the first quarter compared to losses of approximately 22 mln dlrs for first quarter fiscal 1986
indonesian stocks as of april 1 however are put at only 65000 tonnes compared with 160000 a year ago
but it said when the strengthening of the terms of trade is taken into account the real gnp in 1986 advanced by 15 pct compared with a decrease of 05 pct in 1985
im not sure this is an about face but its clearly a recognition that unless were competitive we wont sell to the soviet union said a lobbyst for a major commodity group
baglini who was recently observing negotiations with the steering committee for argentinas creditor banks in new york spoke to reporters in mendoza 600 miles west of buenos aires
davis water and waste industries inc said its board declared a 33 1 3 pct stock dividend payable march 23 to holders of record march 12
the us agriculture department probably will not offer a two dlr per bushel bonus payment to corn farmers for any erodible cropland they enrolled in the conservation reserve program last year an aide to usda secretary richard lyng said
in its international weather and crop summary the agency said southern winter wheat areas are in the early vegetative stage
ducommon inc dco 4th qtr loss
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
it said a spermicide used in inkeys condoms contains an ingredient that may help prevent the sexual transmission of aids
streamlining of the new money process is running parallel with efforts to develop a broader menu of alternatives to new loans such as trade credits or debt equity conversions
he said he could not determine the figure unless the shareholders decide in favor of dissolution
brisk increases in personal income and consumption are to appear in february data released today but the bond markets recent sluggishness suggests there will be no major price reaction unless the rises are much larger than expected economists said
japans long term banks will soon cut their prime rate now at a record low 55 pct by 02 or 03 percentage point in response to falling secondary market yields on their five year debentures long term bankers said
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a spokeswoman for the new york fed said
entertainment marketing a houston based firm involved in electronics wholesaling and televised home shopping sales proposed an eight dlr a share merger acquisition of crazy eddie on may 29 and modified the proposal on june 9 to include the possible participation of crazy eddie management
since january the press has devoted much attention to grain stressing that growth in output is vital to chinas economic and political stability and that prices paid to farmers are too low
comb co said its board has approved a proposal to acquire the 50 pct of cable value network held by its cable television industry partners in exchange for warrants for comb common
it said the shell canada 7500 barrel per day oil sands project will be built on shells oil sand lease about 40 miles north of fort mcmurray in the athabasca region of northern alberta
at this stage of the game id call the market long term positive but for the technical burden of proof you need a close above the previous contract high of 7525 byers said
hutton values the warrants at two to three dlrs per share
oper shr loss 110 dlrs vs loss 863 dlrs oper net loss 51 mln vs loss 421 mln revs 231 mln vs 633 mln year oper shr loss 471 dlrs vs loss 1409 dlrs oper net loss 220 mln vs loss 672 mln revs 1146 mln vs 2218 mln avg shrs 4910330 vs 4851650 note current year excludes gain of 121 mln dlrs from disposal of discontinued operations
harbour workers returned to work this morning after a strike in support of pay claims closed new zealands 15 ports for 24 hours yesterday
phillips petroleum co said it raised its crude oil posted prices for west texas intermediate and west texas sour by 50 cts a barrel effective june 17
erekson ted ross and donald j
buehler international inc bulr 4th qtr net
balladur responding to weekend remarks by us treasury secretary james baker that the us would take another look at the accords said i firmly desire a faithfull and firm adherence by all the major industrial countries to the louvre accords in both their letter and spirit on sunday baker said last weeks rise in short term west german interest rates was not in keeping with the accords
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
in my judgement were not even close to a trade war yeutter told a house agriculture committee hearing
officials last week told that commerce secretary malcolm baldrige and defense secretary caspar weinberger had joined forces to fight the planned sale because it could have left the us military overly dependent on foreign sources for vital equipment used in high technology weapons
although significant oil reserves were confirmed development of this discovery will not be economical without substantially higher prices the company said
montedison finance overseas ltd a unit of montedison spa is issuing a 50 mln australian dlr eurobond due april 3 1990 paying 15 1 2 pct and priced at 101 3 8 pct lead manager orion royal bank ltd said
copa president hans kjeldsen told a news conference on tuesday he had also urged ministers to seek a similar mechanism for cereal substitutes
the average forecast of those surveyed projects roughly quarter point drops by the end of june in both the treasury bond yield to 7 1 2 pct and the federal funds rate at which banks lend to one another to 5 7 8 pct
todays declines could also be partly attributed to investors selling in a bid to force down prices ahead of the state loan tender tomorrow
money market dealers speculated that the central bank could be taking the opportunity to signal a reduction in uk base lending rates by cutting the rates at which it intervenes in the discount market
there is always an excuse for government not to sell she said but she added i want government to get out of business she said non performing assets would be sold in open bidding and filipinos and foreigners would compete on equal terms
in west germany 79250 tonnes have been tendered for intervention but czarnikow says the motive here is to ensure that the 1986 87 price is paid for sugar that was produced in 1986
a thyssen spokesman told that planned job cuts at subsidiary thyssen stahl ag would be higher than announced earlier
edward j
this lead to the widespread assumption that the commission had actually approved the release of 300000 tonnes during the three months of april may and june at last weeks meeting
merx has since withdrawn from the oil market
malaysia has also agreed to barter palm oil for 30 mln dlrs of hydroelectric equipment and is interested in countertrading for indian iron ore wheat and other goods and services he said
colonial bancgroup said it acquired farmers and merchants bank a baldwin county bank with assets of 103 mln dlrs through an exchange of stock valued at about 12 mln dlrs
each warrant entitles the holder to exchange 500 dlrs for stg at a rate of 160 stg dlr and the minimum number of warrants exercisable or tradeable is 100
kuwait says it has full gulf arab support
the current account deficit will continue to show improvement in 1987 88 keating said
the ruling is the result of trade action launched in 1985 by the ontario corn producers association that contended us subsidies were driving american corn prices below canadian production costs
todays itc ruling was consistent with the commerce departments final ruling of march 9 and activates an anti dumping duty of 196 pct on imports of brazilian frozen concentrated orange juice stephen vastagh itc investigator said
cargo handling remains halted at bangladeshs chittagong port since nearly 7000 workers walked out on monday following a pay dispute the port workers association said today
new dutch advances total 65 billion guilders
the day after campeau increased its tender offer to 80 pct of allieds stock from 55 pct and raised its bid to 66 dlrs a share from 58 dlrs on sept 29 allied and a partnership headed by debartolo began negotiating a takeover deal aimed at thwarting campeau the sec said
occidental petroleum corp said its common stock offering has been further increased to a total of 37950000 shares
bankers said mexico became so frustrated with the delay in the loan that it suspended its debt equity swap program last month to put pressure on the banks
shr 18 cts vs 19 cts net 400413 vs 421451 revs 9343228 vs 8213449 nine mths shr 39 cts vs 46 cts net 853891 vs 1011999 revs 246 mln vs 223 mln
net 645 mln swiss francs vs 685 mln div 33 francs per share vs 38 turnover 403 billion vs 435 billion
ladd furniture ladfo completes acquisition
all sales must be registered and exports completed by september 30 1987 the department said
he told the hearing that the problem in soybeans is that the us loan rate provides an umbrella to foreign production and causes competitive problems for us soybeans
lead content of petrol is further cut to 015 gm litre from 04 gm from today
in the us gulf sweet crudes rose in value by 14 cts to 1933 dlrs for west texas intermediate up about 07 pct
crude oil was seen likely to build assuming imports continue at relatively high levels
computer microfilm corp comi year net
ina accounts for some 75 pct of yugoslavias total oil production which amounts to 42 mln tonnes a year
shr 72 cts vs 57 cts net 45 mln vs 36 mln revs 251 mln vs 219 mln year shr 247 dlrs vs 187 dlr net 156 mln vs 118 mln revs 891 mln vs 733 mln
the paper will have maturities between seven and 365 days
france made a first repayment of 330 mln dlrs last november
the western banker said the excess of short term loans is in part a result of chinas inexperience in the foreign capital markets which it entered only in the early 1980s
semi annual 30 cts vs 25 cts prior pay june 30 record june 15
shr 36 cts vs 27 cts net 4538000 vs 3160000 sales 418 mln vs 328 mln avg shrs 126 mln vs 119 mln
such reforms would include among other things more concern for natural resource management
interpart a luxembourg based holding company chaired by italian financier giancarlo paretti payed around 122 billion pesetas in july to acquire a 635 pct stake in renta inmobiliaria
the non transferable notes pay interest at an annual rate of 675 pct
us video vending corp said it completed acquiring first national telecommunications inc from first national entertainment corp for about 10 mln or a controlling interest of us video vending shares
the belgian national bank said it cut one two and three month treasury certificate rates all by 010 points effective immediately
we have resolved major differences of opinion he told 
court puts injunction on dutch port redundancies
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april 30 record april 15
the building societys general manager finance james tyrrell said in a statement the program is part of abbeys strategy of spreading its funding option from what has recently been medium long term into shorter term instruments
japanese banks cool on nigerian debt talks
if yields reach the record 378 tonnes per hectare achieved in 1984 production would be around 175 mln tonnes an increase of 11 pct compared to 1986
they said discussions are focusing on conditions for entry into force of the new inra
laurence tisch became the largest shareholder in cbs nbcs former parent rca was acquired by general electric and abc was merged into capital cities broadcasting
haughey said delors assured me we could have full recourse to the commission for advice guidance and expert skills in dealing with our overall financial problems particularily in the matter of debt management noting current debt servicing charges are about two billion punts a year he added if we could achieve any significant improvement in the management and reduction in the cost of servicing it could have significant budgetary benefits he added that he would seek advice not a community loan
the current rate is 12850 marks per australian dlr
faber open for offers on morgan grenfell stake
it will be back on the table again and again the diplomat said
net assets being acquired come to around nine mln stg
but money market rates have risen contrary to expectations and the company has shelved its plans for the time being
northern trust ntrs net hurt by brazil loans
browning ferris industires inc said its board declared a two for one stock split payable april 24 to holders of record march 31
maize deliveries to zimbabwes state owned grain marketing board gmb will fall by over 65 pct this year following a prolonged dry spell agricultural industry sources said
australia sold 180000 tonnes of raw sugar to the soviet union for shipment in the next few weeks queensland primary industries minister neville harper said
the pcggs sequestration last year of 33 mln shares aborted smcs bid to buy them back from 14 trading companies in the ucpb group
the company named bear stearns and co as lead underwriter of the offering
mitsui and co usa is now imatrons fifth largest shareholder with 31 pct of the firms outstanding shares
factory stocks at end january were 305 mln tonnes 96000 imported against 313 mln 96000 imported a year earlier
it said the shares were held on behalf of investment clients and it said it had no intention of seeking control of the fund
morgan guaranty ltd through a special financing subsidiary said it is issuing the first repackaging of perpetual floating rate notes consisting of a repackaging of an outstanding westpac banking corp security
when asked to comment on a recent study by the general accounting office that concluded certificates result in a net cost to the government amstutz said gao underestimated the benefits and overstated the costs of the certificate program
doc optics corp doco 4th qtr loss
great northern nekoosas last common stock split a three for two was in december 1983 it said
shr 46 cts vs 48 cts net 1196331 vs 1341314 revs 5153109 vs 7680350
changes in these standards must be agreed upon multilaterally
treasury balances at fed fell on march 27
hk m3 money supply rises 14 pct in february
in a statement issued late last night the central bank said convertible peseta accounts funds which are not subject to exchange controls would also be subject to a 19 pct reserve requirement with effect from friday
the reduction in natural gas prices in the fourth quarter of 1986 to reflect earlier falls in oil prices was an additional factor behind the drop in results
treasury balances at fed rose on feb 27
the bank loan is part of a 4004 mln dlr three year government financed project to rehabilitate or improve about 3410 miles of highway the bank said
japan has assured a meeting of trade ministers it is making every effort to expand domestic demand and restructure its economy
york research york gets equity financing
at the previous auction the government offered eight mln dlrs
elder beerman eldr gets offer of 30 dlrs share
snyder said it may boost its stake or sell some or all of its current holdings
shr 31 cts vs 21 cts net 182839 vs 132804 revs 250 mln vs 194 mln
russo securities inc said in a statement it acted as a broker executing unsolicited orders for an individual named in a securities and exchange commission civil suit alleging insider trading violations
icco executive director kobena erbynn will draw up what some delegates called a pre compromise and present it to the buffer stock working group at 1130 hrs gmt tuesday they said
coopervision inc eye told the securities and exchange commission it has acquired 1420500 shares of cooper lasersonics inc or 65 pct of the total outstanding common stock
ohio mattress omt buys sealy of michigan
terms of the acquisition were not disclosed
it then changed its name
he would alert the market via news agencies as to when he wanted to buy cocoa and include shipment details and tonnage desired delegates said
uk money market given 345 mln stg assistance
as larry speakes said on january 14 this year only two people in this administration are authorized to speak on the dollar and that is the president and the secretary of the treasury the spokesman told
palm kernel stocks dropped to an estimated 45870 tonnes in february from a revised 55693 65100 in january and 85595 in february last year it said
the sale of the units is part of the banks worldwide restructuring plan
shr profit ten cts vs loss six cts net profit 43000 vs loss 26000 year shr profit 46 cts vs profit 12 cts net profit 193294 vs profit 51029 assets 444 mln vs 253 mln deposits 400 mln vs 214 mln loans 253 mln vs 152 mln
the banks are national bank of north evanston elgin national bank first national bank of schiller park and merchants and manufacturers state bank in melrose park
but dealers anticipate that once the rumors subside freight rates will settle back down because of the overall surplus of barges on the midwest river system
she urged usda to require that birds be washed thoroughly before they are defeathered and that defeathering machines be cleaned several times a day that birds be condemned if their intestines are punctured or there is visible fecal contamination and that chiller water be changed more often
terms were not disclosed
successful bidders the amount of crude oil and the price per bbl according to the doe continue as follows orkin inc 2679 bpd at 1524 dlrs lunday thagard co 2511 bpd at 1527 dlrs golden eagle refining 2500 bpd at 1537 dlrs macmillan ring free oil co 1000 bpd at 1581 dlrs 1000 bpd at 1571 dlrs and 230 bpd at 1602 dlrs mock resources 2000 bpd at 1576 dlrs petro diamond 2000 bpd at 1546 dlrs
its a pity the talks broke down but for brazil this was better than such a quota reduction he added
saab scania ab is establishing a 100 mln dlr euro commercial paper issuance program enskilda securities said as arranger
the actions of the small group that contral avia have hurt the little guy said eischen
shr loss 16 cts vs loss seven cts net loss 3450000 vs loss 1508000 sales 56000 vs 1187000 avg shrs 22568000 vs 20591000 year shr loss 38 cts vs loss 29 cts net loss 7977000 vs loss 6005000 sales 3699000 vs 2391000 avg shrs 21111000 vs 20578000
the company said the acquisition is subject to approval by both boards
bangemann denies newspaper interview on subsidies
wagner said the exact timing of the move depended on the state
standard amp poors has noted that in 1986 there was a series of austerity measures designed particularly to cut lending and encourage saving
the us agriculture department said it has accepted a bid for an export bonus to cover the sale of 18000 tonnes of us durum wheat to algeria
in recent weeks oil prices fell to the 16 to 17 dlrs a barrel level on market reports of some ope members producing above their quota pushing total opec production to 158 mln barrels per day
the company said it has also been advised that it has received fed approvals for its acquisition of heritage bank of camas wash and for its conversion of its subsidiary us thrift and loan of salt lake city utah into a commercial bank
chase will also be a dealer for the program along with swiss bank corporation international ltd
net 177 mln vs 153 mln note national westminster bank plc subsidiary
philippine debt talks finely poised bankers say
this weeks estimated arrivals total 274000 tonnes of which 71000 are grains oilseeds and 203000 derivatives
construction will start in december and the factory should be ready by next october
it said it would continue with plans for all its activities to be internationally competitive and profitable
but bundesbank officials noted that a news conference was usually called when the council meets outside frankfurt and did not necessarily herald any policy moves
colombian inflation stable at around 20 pct
chrysler overseas capital corp said it authorized redemption on april 17 of its 4 3 4 pct and five pct convertible debentures due 1988
aircal is a unit of aci holdings inc while american is a unit of amr corp
japan will not retaliate now against us tariffs
coupon cut on bank of tokyo dollar convertible
saatchi and saatchi shares rose one pence on the cleveland announcement to 885p after yesterdays 870p close
south africa must drive down its inflation rate to much lower levels to prevent a further decline in the rand said volkskas bank in its monthly economic review
shr 20 cts vs 16 cts net 5849000 vs 4630000 revs 338 mln vs 271 mln nine mths shr 41 cts vs 40 cts net 119 mln vs 115 mln revs 846 mln vs 772 mln
ipco corp ihs sets regular payout
funds controlled by fmr corp a boston based investment firm affiliated with fidelity hold 251100 shares bringing the combined total to 653600 shares fidelity said
we could see the trade deficit start down in february or march baldrige said in an appearance before the senate governmental affairs committee
bouldikian told an arab exchange dealers conference the bank would continue to take measures to defend the currency
more brusca believes the fed will have to add 35 to four billion dlrs a day in reserves in this statement period
cpc said it had not received a reply from inoc since december
the central bank sources were commenting on the dollars renewed tumble in new york and tokyo which was sparked by remarks by us treasury secretary james baker that the dollars fall had been orderly
a gillette spokesman said the mpany had no comment
the split would improve the marketability of the existing certificates chief executive giorgio ghiringhelli told a news conference
csr ltd csras said it will offer 220 dlrs cash each for the shares it does not already hold in pioneer sugar mills ltd csr already holds 3174 pct of pioneers 9980 mln issued shares it said in a statement
dubin will become vice chairman of roberts and j
but sims said washington had received assurances that the the arms would not be used elsewhere
we are in discussions and are looking forward to some response she said
domestic sales of 604 mln dlrs were unchanged and foreign sales expressed in dlrs increased 114 pct from the year earlier period
the estimated 1986 results are based on 3207000 shares outstanding compared to 2566000 shares outstanding for 1985
yeutter sees us japan verging on trade conflict
1986 includes operations of dependable insurance gruop inc
natl loan release call avge rate x level price price oats 158 099 v 165 barley 155 156 iv 255 255 v 265 sorghum 254 325 y iv 536 536 v 554 reserves i ii and iii have matured
the convention requires that lead managers draw up a prospectus naming all syndicate members and providing certain details about the borrower
ual said donald trump was interested in ual stock as investment
conoco last changed its crude postings on may 21
dunlop malaysian industries bhd 
nakasone sounds conciliatory note in chip dispute
the financing is for seven years and provides the borrower with the option to borrow in other currencies
twa said however that if the negotiated deal is not acceptable it may make an offer directly to usairs shareholders for up to 51 pct of usairs outstanding stock to be purchased in a voting trust at a price lower than todays offer
ec commission defends oils and fats tax
leaseway transportation corp said it has completed the previously announced sale of its leaseway of puerto rico inc subsidiary to caguas central federal savings bank for undisclosed terms
a primagas spokesman said mobil will take the stake by means of a capital increase terms of which have not yet been established
their proposals would give brazil a smaller quota share and colombia and indonesia a larger share and bring a new quota distribution scheme into effect now rather than later
that produced a small daily average deficit for the week as a whole
finance minister michael wilson said large inflows of capital into canada principally into the countrys bond market is a major reason behind the sharp recovery in the canadian dollar
the 25 nation latin american economic system sela has presented a document calling for a new strategy to cope with latin americas crushing debt and faltering growth
arkadi kuhlmann president and chief executive officer of deak international said the purchase will expand deaks operations into the precious metals and wholesale non ferrous metals trading arenas
association chairman ulrich wagner told a news conference the west german feed industry believes the ec does not seriously contemplate the introduction of such a tax because it would end in another transatlantic trade war
he kang minister of agriculture animal husbandry and fisheries said this week that china has adjusted the purchasing price for sugar cane and beet to check a drop in production last year but he gave no price details
union uelto ends pact to sell canbra cbfto 
payment date is also may 15
romero said he expected coconut product export prices to stay up for the rest of the year
the uk offshore oil industry has suffered from last years collapse in oil prices but should not sustain any permament damage minister of state for energy alick buchanan smith said
canadian money supply m 1 rises 592 mln dlrs in week bank of canada said
on february 23 chas
but he said the larger creditors were more interested in a scheme of debt equity swaps similar to that which has operated in chile for the past two years
the bonds are guaranteed by belgian savings bank aslk cger bank and have all been pre placed
rb industries also said it recently secured a five year 8573 pct secured 99 mln dlr loan on its irvine property from a major institution
valhi vhi reports pro forma earnings
this is a more realistic approach because the metals market is a 24 hours market and prices can move without limit oneill said
the panamanian bulk carrier juvena is still aground outside tartous syria despite discharging 6400 tons of its 39000 ton cargo of wheat and water has entered the engine room due to a crack in the vessel bottom lloyds shipping intelligence service said
period ended january 31 shr 61 cts vs 64 cts shr diluted 60 cts vs 60 cts net 965 mln vs 870 mln loans 4487 billion vs 4807 billion deposits 6986 billion vs 6845 billion assets 8392 billion vs 7893 billion note shr after preferred dividends
the dollar has hovered around 153 yen since the six agreed to cooperate to bring about currency stability
rolls royce seeks 250 mln stg credit facility
tomorrows surplus in the money market is estimated at 420 billion yen mainly due to payment of national annuities money traders said
healthmate inc hmte 4th qtr loss
weve been fiddling around with these problems for five years and the hour is growing late he said up to now the banks have reduced their spreads cut interest rates internally and extended maturities and none of these measures has been enough
two will load 60000 tonnes of barley for saudi arabia one 28000 tonnes of wheat for china two 25000 tonnes of wheat each for algeria and turkey and one 20000 tonnes of wheat for italy
savin corp said the first period for the exercise of the special conversion right for its zero coupon convertible senior notes due february one 1996 has expired
but they said its is not redeemable before march 15 1989 unless paine webber groups common stock price equal or exceeding 140 pct of the conversion price at the time
caesars caw has no comment on mts talks
s p may downgrade chi chis chic convertibles
scholls businesses in europe latin america and the far east which had sales of about 150 mln dlrs in 1986
first economists now expect m 1 money supply for the week ended april 29 to rise by a staggering 15 to 20 billion dlrs partly reflecting the parking in checking accounts of the proceeds from stock market sales and mutual fund redemptions to pay annual income taxes
but others said it kept several options open and it was not possible to deduce too much from it
the italian treasury said it will issue 3000 billion lire of a new type of indexed government paper discount certificates cts on march 18
interest rates were being discussed on a bilateral basis under paris club rules he added
after such an acquisition then each right entitles holders to purchase securities of the company or an acquiring entity having a market value of twice the rights exercise price
the company said on february 20 1986 its predecessor nolex development inc acquired burdett publications inc in an exchange of 17 mln common shares for all burdett publications shares but the transaction was not qualified with the california department of corporations
in its suit transamerican alleged that coastal and wyatt are notorious corporate raiders who have been restrained in the past from taking over other corporations in their attempt to create a stranglehold position from which they could control and raise gas prices it is obvious that coastals efforts to improperly take over transamerican is a thinly veiled attempt to control a larger share of the texas gas market to the detriment of end users and consumers the company alleged
its bid is subject to firb approval
dealers said they were somewhat relieved to see that bank regulators recognized the concept of netting that is offsetting the amounts receiveable from and payable to a single counterparty against each other
he said the landslide was not caused by deforestation and he described as grossly exaggerated reports that there was any threat to the canals water supply in the foreseeable future
loans and advances from the dutch central bank to the commercial banks rose by 12 billion guilders to 107 billion in the week up to and including april 6 the banks weekly return showed
so its unrealistic and it doesnt work and its unnecessary the cmes top policymaker also said a decision by the exchange to advance the quarterly settlement time of its stock index futures contract to the morning from the afternoon would help eliminate dramatic price gyrations in futures and equity markets on so called triple witching day
genova inc gnva 1st qtr dec 27 net
metals manufacturers estimate some 2000 jobs could be affected by the boycott is suitable replacements for these ores are not found
flowers industries inc said it expects lower earnings for the current year due to operating losses incurred by recent acquisitions and possible nonrecurring losses resulting from its restructuring efforts
the offer is scheduled to expire midnight edt on june 2
ohio mattress omt in acquisition settlement
usda will release its official signup report around april 15 an official said
the failure to sell the whole allocation was due to the central banks unprecedented disqualification of 17 banks as punishment for inadequate documentation in previous transactions
dome is now trying to reach agreement on a complex plan for restructuring debt of more than 610 billion dlrs
leading domestic semiconductor makers will boost imports and cut production of key memory microchips next month in an attempt to help ward off us trade sanctions company spokesmen said
scimed life systems inc said advanced cardiovascular systems inc is suing it for patent infringement
the toronto stock exchanges oil and gas index of 41 companies is up to 40654 so far in trading today from 305315 at the end of 1986
yugoslavia has almost 100 pct annual inflation lagging exports and low productivity
the bell group ltd bllas said it now holds 149 pct of the issued capital of standard chartered plc stchl after acquiring further shares
certain changes in filing requirements will shorten the tax return and in some cases simplify the form he noted
decorator industries inc dii 4th qtr net
banctexas said it plans to concentrate on its primary market the dallas area
both are owned by hk hotels
last weeks temporary act of parliament also allows shipbuilders to receive favourable taxation terms plus up to 50 billion yen in compensation for liabilities incurred through job losses and the sale of excess capacity
south american producer countries supplied 97 pct of west german requirements with chile shipping 229176 tonnes 1985 182959 and peru 210513 147014 tonnes
the csr offer contains a put and call option agreement with redland
the current issues were yielding 571 70 and 576 75 pct respectively in early afternoon trading
bache securities japan ltd hoare govett far east ltd and j
capitol bancorp said the cap mortgage interest was sold to michael m
shr 30 cts vs 12 cts net 2191000 vs 852000 sales 1066 mln vs 1029 mln nine mths shr 44 cts vs 40 cts net 3236000 vs 2919000 sales 2979 mln vs 2979 mln
earthworm tractor co inc worm year loss
the bridge financing is a temporary loan from hutton
government planners have long recognised that saudi arabia the worlds largest crude exporter needs to foster private enterprise to diversify its oil based economy
nzi capital corp a unit of nzi corp is offering 150 mln dlrs of guaranteed notes due 1997 yielding 836 pct said sole manager kidder peabody and co inc
tender loving care said its payment to norrell will include 1950000 dlrs in cash and five mln dlrs of a new series of eight pct tender loving care convertible preferred
world bank to support sri lanka if deficits cut
harvesting stretches from december 1986 to april 1987 japans final output will be announced at the beginning of june they said
the complaint reviews the price action of avia stock from march 1986 and noted the plaintifs who purchased stock between 19 dlrs and 25 dlrs per share
prices could rise 15 per cent in the first three months of 1987 and two per cent in the first half year fractionally more than forecast this week by the national statistics institute insee marais said
formation of the special committee was announced early last week when harper and row said its board had taken no action on two pending acquisition proposals
the spokesman said the ruling indicates the railway bearer bonds case is finally closed but a us embassy official said that two other bond cases were still in litigation and it was not known if the other courts involved would accept the supreme court ruling
mitsui and co eurobonds formally launched
global economic slowdown raises new debt fears
brazils trade surplus doubled in february
mern jointly hold 13 pct itj is headed by a rival group of trading houses
security pacific overseas finance nv s debt issues were reduced to aa from aa plus
shr not given net loss 4066 mln vs profit 354 mln revs 1381 mln vs 2119 mln note 1986 net includes 5457 mln dlr asset writedown before 1392 mln dlr recovery of deferred taxes
the cumulative preferred stock will become convertible with voting powers to an equal number of common shares following the us government approvals
the transaction was approved by the us bankruptcy judge in denver who is hearing kaiser steels chapter 11 reorganization case
opecs overall ceiling is 166 mln bpd
gencorp said agreement to sell rko pictures terminated
the company set up the two classes of common stock in february
the index for output prices non seasonally adjusted was put at a provisional 1497 in march after 1493 in february
danish based insulin and enzymes producer novo industri a s nvoco said pre tax earnings fell almost 10 pct in 1986 though sales rose by two pct
shr 1284 dlrs vs 307 dlrs net 46054000 vs 11026000 revs 4911 mln vs 4739 mln note current net includes gain of 851 dlrs a share on disposal of assets
it appears to be nearing a crossroads with regard to deregulation both as it pertains to investments and imports the report says
the reagan administrations proposed farm policy changes are not going anywhere this year dole said singling out the proposal to cut target prices 10 pct per year
the current soybean program gave us the worst of both worlds asas haggard told the hearing
proceeds from the offering which is in addition to 50 mln dlrs of debt securities already registered with the sec but unsold will be used to refinance outstanding long term debt to repay short term debt and for other general corporate purposes the company said
investors will pay for the bond on april 9 and the bond pays annual interest on the same day
the new rules require parliamentary approval and government sources said it was unclear when they would come into force
shr 26 cts vs 36 cts shr diluted 25 cts vs 36 cts net 1389000 vs 1412000 revs 569 mln vs 351 mln avg shrs 5412000 vs 3962000 year shr 90 cts vs 75 cts shr diluted 86 cts vs 75 cts net 4692000 vs 2961000 revs 2014 mln vs 1400 mln avg shrs 5234000 vs 3954000 note results for 14 and 53 week periods ended january 3 1987 vs 13 and 52 week periods ended december 28 1985 1985 net in both periods includes gain of 99000 dlrs from tax loss carryforward spokeswoman said average shares outstanding on a diluted basis were not available
worthington industries inc wthg 3rd qtr net
qtrly div 38 cts vs 33 cts pay june 1 record may 7 note company said this is the largest dividend increase in 15 years
holden brown would not disclose how big a profit contribution the distiller will make in allied lyons financial results but he said it will be substantial i am not able to give profit forecasts he said
popsicle canada through its 19 licensees is the largest maker and distributor of frozen novelty products in canada clabir added
british aerospace raises system designers stake
the japan fund jpn gets buyout offer
ec commission details sugar tender
all of the gas reserve purchases as well as all of the 14 mln barrels of oil reserves bought in 1986 were in the united states amoco said noting it has spent 11 billion dlrs to acquire us producing properties over the past three years
also as part of the merger nolans 21 principals have become peat marwick partners the companies said
feb 28 end shr five cts vs one ct net 161019 vs 50745 revs 1048543 vs 478700 avg shrs 3217500 vs 4350000 nine mths shr 12 cts vs four cts net 390179 vs 169275 revs 2658692 vs 1478066 avg shrs 3217500 vs 4350000 note corrects reversed figures in march 11 item
the cbot had planned to introduce night trading on april 2 but postponed the move to allow participants time to prepare
john labatt sees good fourth quarter year
computer memories principal asset is about 294 mln dlrs in cash and cash equivalents
shr 71 cts vs 61 cts net 785 mln vs 646 mln note current qtr includes gain of seven cts shr from sale of securities
the chairman of the distributive trades survey panel nigel whittaker said a favourable budget next week would further help sales during the summer
aristech added that phenol production will increase to 610 mln pounds per year from 585 mln pounds a year now
the accounts also showed a financial deficit of 187 billion crowns vs a deficit of 133 mln which was covered partly by drawing down company liquidity to 738 mln vs one billion and partly by increasing borrowing to 223 billion vs 621 mln
the meeting with kato opened a 12 day visit to japan by lyng who is here to dicuss farm trade
mirroring the dollars fall to a 40 year low against the yen the key 7 1 2 pct 30 year treasury bond price fell nearly two points to close at 96 7 32 compared with 98 5 32 on friday
the new credit agreement signed in january was originally to last 15 months but the government now says it will go for one year beginning this month
ed and f
capital expenditures rose to 524 mln dlrs in 1986 from 501 mln dlrs
a rival french system won the contract
a special meeting of the international coffee organization ico council failed to agree on how to set coffee export quotas ico delegates said
shr profit two cts vs nil net profit 403000 vs loss 51000 revs 9609000 vs 4495000 nine mths shr loss one ct vs loss four cts net loss 171000 vs loss 799000 revs 176 mln vs 133 mln note full name is strathcona resource industries ltd
the bank said merrill lynch international and co is co lead manager
shr 86 cts vs 74 cts net 111 mln vs 86 mln revs 877 mln vs 805 mln avg shrs 12857904 vs 11578259 nine mths shr 261 dlrs vs 215 dlrs net 326 mln vs vs 248 mln revs 2698 mln vs 2578 mln avg shrs 12482780 vs 11502035 12 mths shr 328 dlrs vs 280 dlrs net 403 mln vs 321 mln revs 3554 mln vs 3421 mln avg shrs 12271220 vs 11457028
morrison inc morr acquires custom management
earnest debate on the buffer stock proposal is expected to begin late tomorrow as delegations feel the pressure of the approaching friday deadline when the icco meeting is due to adjourn delegates said
argentine meat exports lower in 1986
triton said royal dutch shell groups rd sc shell canada ltd shc affiliate retains a convertible overriding interest in the well
the new outokumpu division called copper products industry is to incorporate outokumpus copper production plants including its two us subsidiaries nippert co and valleycast inc as well as metallverken and part of wirsbo
uk money market deficit forecast at 700 mln stg
security services plc a unit of securicor group plc is seeking a 50 mln stg multi option facility county natwest capital markets said as arranger
national is the manager of nursing home properties owned by southmark
shv already holds 68 mln ic gas ordinary stock units representing around 49 pct of the current issued share capital
and merrills attempts to improve profitability will be constrained by accelerating competition moodys said
west german bank issues luxembourg franc bond
each right entitles the holder to buy one share of beneficial interest of american realty trust at a price of 375 dlrs per share southmark said
the project will also support improvement of the agricultural credit system through reduction of subsidies for credit and crop insurance and increased domestic resource mobilization the bank said
shr loss 127 dlrs vs profit 43 cts net loss 170 mln vs profit 5667000 sales 678 mln vs 701 mln year shr loss 69 cts vs profit 218 dlrs net loss 9174000 vs profit 291 mln sales 2725 mln vs 2694 mln avg shrs 133 mln vs 134 mln note 1986 net includes tax credits of 145 mln dlrs in quarter and 8408000 dlrs in year
chemical fabrics corp said an agreement in principle under which oc birdair inc would have purchased assets related to the architectural structures business of dow corning corps odc inc division has been terminated
indonesia and turkey already have purchased 7500 and 5000 head of dairy cattle respectively under the program
the shares closed up two yesterday at 90 1 2 a new 52 week high
accu weather meteorologist dale mohler said cold air moving from the north could put temperatures in the middle 20s fahrenheit as early as tonight depending on development of a low pressure area over southeast colorado which could stall the system
cyclops cyl holder withdraws takeover motion
some 900 people were evacuated from their homes during the rains and flooding last week civil defense officials said
the excessive humidity might also produce rotting of the crops further dimishing the yield the sources added
one problem is that there has never been a major default in the swaps market
nakasone told a lower house budget committee in parliament that japan and other industrialized nations committed themselves in paris last month to stabilize the dollar above 150 yen
new zealand to repay 600 mln dlrs foreign debt minister says
the coupon on the 75 mln dlr 15 year convertible eurobond for atari corp has been set at 5 1 4 pct compared with indicated range of five to 5 1 4 pct lead manager paine webber international said
bank of england pressure holds base rates
sen
the company said about 95 mln dlrs of the gain will be recnogized in the quarter ending june 30 with the remainder derferred and recognized over the remaining life of the serviced mortgage porfolio
pat fashions imports apparel from the far east and makes apparel domestically as well
great western financial corp gwf 3rd qtr net
moodys cuts baker bko upgrades hughes ht 
usair group inc said it has acquired 2292599 piedmont aviation inc shares about 99 pct on a fully diluted basis from norfolk southern corp nsc the acquisition of piedmont by usair has been approved by the directors of both companies
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting 3 8 pct
the key us 7 1 2 pct treasury bond due 2016 fell to a low of 9608 12 in early tokyo trade against the 9805 06 new york finish then recovered to 9620 22
geriatric and medical centers inc gemc payout
indonesias coffee production in 1986 87 ending september 30 may fall slightly from last years level of 360000 tonnes dharyono kertosastro chairman of the association of indonesian coffee exporters told 
central to royal trusts strategy is asia boasting rapid economic growth and huge pools of japanese capital said cornelissen whose company administers assets of 7185 billion dlrs more than any other canadian trust
the offer it said is also conditioned on the tender of at least two thirds of the outstanding preferred shares
hughes will work with baker and the justice department towards negotiating the final form of the consent decree and filing it as soon as possible the company said in a statement
usda to propose foreign meat inspection rule
it will file an amended domestic registration statement for the eurodollar offering and reduce the size of the domestic offering to 300 mln dlrs
malaysian palm oil exports to the ec are worth about 250 mln dlrs a year
in addition to a half dozen ships in the us navys small mideast task force near the straits of hormuz the pentagon has moved 18 warships including the aircraft carrier kitty hawk into the northern indian ocean in the past month
did people really expect a patent remedy he asked
the notes have an 11 5 8 pct coupon and were priced at 9950 salomon said
the consumer price index base 1976 rose to 7613 from 7537 in january and compared with 6954 in february 1986
he rejected recent calls from some government quarters for wage increases this year as a means of raising private consumption and thus boosting domestic demand
before the tremor ecuador suspended interest payments on january 31 to private foreign banks
brooklyn union said the gas from shell oil will replace about 25 pct of the gas previously supplied by transco energy incs e transcontinental gas pipe line corp subsidiary
january imports were 919 billion dlrs against 943 billion in december and 971 billion in january 1986
if the dollar goes the way of wall street japanese will finally move out of dollar investments in a serious way japan investment managers say
under the pact diceon would exchange 300000 shares of its stock for all of symtrons shares
he said the timing of the iac inquiry would allow its findings and those of the royal commission to be considered in later negotiations on wheat marketing arrangements between the federal and state governments and the industry
sun state savings ssslo 3rd qtr net
lawsons comments followed another frantic day in londons financial center where british shares closed 122 pct down on the day
non members include the us a consumer and malaysia an increasingly important producer
inl said the acquisition took effect on march 1
bronstein already held the other 20 pct of cap mortgages stock
the toronto stock exchange gold index today was up 268 points at 806790
acmex said in a statement it would offer one share for every two cheetham shares or 340 dlrs cash for each share
our representatives have gone to washington to the international monetary fund the world bank the fed federal reserve board and the us treasury to brief them in advance on this alternative and it has generally been positively received we dont believe that there is going to be a problem on the accounting side ongpin said
the stock dropped six dlrs in three days after boesky sold his position and has never recovered montgomery said
permits were 115 pct below the september 1986 level of 1687000 units
french 13 week t bill average rate falls to 737 pct from 746 pct official
it looks like the national savings move reflects this one senior dealer said
republic american corp rawco 3rd qtr net
it said the transition to the fiber network from interim networks would not only reduce operating costs in the second half of 1987 but also assist in controlling unauthorized network use
peviously lynch would have held about 25 pct with becor holders receiving 25 pct and becor management about half
profit from its second largest geographical area north america slipped to 347 mln stg from 372 mln
in comparison the won rose by about five pct and yuan remained stable during the same period he added
london sugar freights
saudi riyal interest rates rose as bahrain based banks scrambled to cover short positions dealers said
the president of argentinas bank steering committee william rhodes of citibank said on friday he thought the loan agreement with argentina could be signed in august
shr 50 cts vs 47 cts net 3445000 vs 3193000 note share adjusted for two for one stock split in january 1987
shr loss 22 cts vs loss 18 cts net loss 3035000 vs loss 2516000 revs 209 mln vs 196 mln qtly div three cts vs three cts prior year shr profit two cts vs profit 34 cts net profit 215000 vs profit 4647000 revs 934 mln vs 987 mln note dividend payable april one to shareholders of record march 17
another stumbling block would be encors 225 mln dlr joint liability in loans to dome petroleum advanced by arctic petroleum corp of japan for beaufort sea exploration
his comments rocked the currency markets and helped send the already fragile us and overseas stock markets into a tailspin
labor dept reports us real earnings rose 06 pct in feb after being unchanged in jan
bp oil raises operating profit
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
after the two sales equities will amount to 50 pct or more of the portfolio zuckerman said
columbia first federal savings and loan association said it has acquired the insured deposits of first federal of maryland based in hagerstown from the federal savings and loan insurance corp and reopend first federals six former offices as columbia first branches
in an interview with the globo television network transmitted from rome funaro said the reception by representatives of creditor countries with whom he met along the week was always to seek new ways
we would welcome if they pardoned half our debt gros said
this followed a small rise in january of 04 mln bpd but a decline of 15 mln bpd in february and 25 mln bpd in march
american petrofina apia audit report qualified
trade analysts said their private reports give similar results and do not differ significantly from the first estimate of stagnant 1987 european beet plantings made last week by west german sugar statistician f
minorco mnrcy sees improved second half
the current account for the two months posted an estimated 500 mln baht surplus down from 12 billion a year ago
we wouldnt have done this deal had it not been understood that cetus wants to build its own fully integrated business in north america and europe said fildes
brazils september trade surplus was the best so far this year totalling 1494 billion dlrs compared with 1434 billion dlrs in august and 540 mln dlrs in september last year banco do brasils foreign trade department cacex director namir salek said in a news conference
marine midlands 1986 fourth quarter loan loss provisions fell to 441 mln us dlrs from 892 mln a year before
only 20 states and the us virgin islands have eradicated both diseases it noted
brazil soy harvest 13 pct complete newsletter
my personal feeling is that is too low
shr loss three cts vs profit two cts net loss 54791 vs profit 28866 sales 1379810 vs 338886 avg shrs 1602717 vs 1331739
the company said it sold 14 mln of its 46 mln shares of dayton hudson stock
us lard consumption in february
rep
applications for bills dated monday to friday at the top accepted rate of discount of 95261 pct were allotted about 81 pct
qtly div 12 1 2 cts vs 12 1 2 cts pay april 23 record april 2
the institutes were divided in their spring report on forecasts for 1987 with three predicting two pct growth and two seeing only one pct expansion
sumita said the central bank would continue to make a judgement on monetary policies while watching consumer prices exchange rates and economic and financial conditions both in and outside japan
qtly div 68 cts vs 68 cts prior pay june one record may eight
a spokesman for governor perpich earlier said the governor is expected later today to recommend stiffening the states anti takeover law to help the minneopolis retailer defend itself
citicorp is saying you cant scare us with threats well make your loans non performing right now berger said
brazilian authorities have no more interest in seeing their credit sources cut off then we have in seeing their obligations stop he added
henry bellmon who on thursday declared a flooding emergency for central oklahoma was expected to ask president reagan for federal disaster relief for the area
natural gas will have the opportunity to become an increasingly important part of the worlkds energy supply mcivor said
house of fabrics now operates 703 stores
i think there is a us willingness to explore this issue as it pertains to competitiveness amstutz said
the settlement date is march 23 1987
gasoline service station sales rose two pct in february following a 19 pct gain in january but economists said higher oil prices rather than an increased volume of gas sales probably accounted for these gains
the government sources said the amount covering the first 50 days of the year starting april 1 accounts for more than 90 pct of the 16000 billion yen in bills incorporated in the full budget
fairfax said a fall in net interest also contributed to net earnings because group borrowings were reduced following the receipt of a 9611 mln dlr capital dividend from australian associated press pty ltd aap after the sale of aaps b shares in holdings plc rtrsl this accounted for the 8932 mln dlr extraordinary profit
tokyo bids to stop chip row turning into trade war
some believe it signals a poll this june noting that the benefits such as income tax cuts and the decision not to raise duties on alcohol and tobacco become available immediately
dan glickman d kans that usda is in the process of preparing an official response to the gao study on certificates and will submit it to the subcommittee when completed
but while production of soybeans in 1987 88 oct sept will rise to 1075 mln tonnes from 980000 in 1986 87 imports will also rise to supply a new soybean crushing plant
this compares with an historic average for this time of year of 20 pct
exports of beef veal are also predicted to decline to 480000 tonnes shipped weight in 1987 from 515000 in 1986 and then rally to 490000 in 1988 the amlc said in a summary of its bi annual meat and livestock forecasts
willy de clercq external relations commissioner of the european communities told a news conference that chinas application would involve long and difficult negotiations
as part of the financing it received a commitment letter subject to standard conditions for 133 mln dlrs of project financing from credit suisse
holden brown said allied lyons was able to finance the hiram walker gooderham acquisition with cash and borrowings and has no current plans for a stock issue
the total cost of the program announced today is about 334 mln dlrs of which the iadb loan will cover 299 pct
swedens stora kopparbergs bergslags ab skpsst said it has now acquired 90 pct of shares in rival pulp and paper makers papyrus ab thus passing the threshold above which it can compulsorily buy the rest of the company
the year on year rise was 1964 pct up from 3583 billion at the end of december 1985
he said the daily telegraphs first quarter operating loss was sharply reduced from last year
bank of japan buys small quantity dollars dealers
shr loss 15 cts vs nil net loss 4356285 vs profit 300000 year shr loss 12 cts vs profit five cts net loss 2744826 vs profit 2490262 note 1985 earnings restated for discontinued operations per share results reflect payment of preferred dividends company did not release revenues
brazil debt seen partner to hard sell tactics
the warrants have an exercise price of 1507 yen per share compared with the last traded price of 1470 yen it said
chemlawn rose 1 7 8 to 36 in over the counter trading
indonesia raises stake in aluminium plant
cpc said not included in the 340 mln dlr consideration are proceeds from the sale of some smaller asian investments including a 51 pct equity interest in an oat based food venture to an australian partner
leslie glick who together own about 34 pct of genex stock will provide irrevocable proxies to the venture firms on completion of the rights offering and have agreed not to exercise their rights to acquire stock in the rights offering
mexico suspends overseas coffee sales
the westpac perpetual notes are technically now the property of a newly formed single purpose finance subsidiary pacific securities
they said there were no injuries on board and the ship headed for the gulf emirate of fujairah under its own power after the fire was put out
capital cities abc ccb sets payout
the unilateral boycott proposed by norways minority labour government gives domestic companies until late september to cut remaining trade ties with south africa and namibia
but he said investors looking ahead six to 12 months might want to buy at present levels for the tremendous fundamental values in the group
j and j snack jjsf to sell convertible debt
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
shr profit four cts vs loss 47 cts net profit 209000 vs loss 2164000 sales 4849000 vs 3682000 year shr loss 10 cts vs loss 52 cts net loss 451000 vs loss 2378000 sales 180 mln vs 158 mln
nazer is believed to be reviewing saudi oil operations which could lead to a thorough overhaul in the way saudi arabia does business the sources said
company name is transamerican
carol tucker foreman president of foreman and heidepriem and a former assistant secretary of agriculture for food and consumer services told a house agriculture subcommittee every hour of every day 22 americans become victims of chicken contaminated with salmonella she said every two and a half weeks an american dies of salmonellosis or complications arising from it and the incidence of poisoning from poultry has increased steadily over the past several years
the bank of england said it provided the money market with unspecified late assistance of around 240 mln stg
oper shr loss 20 cts vs loss 81 cts oper net loss 1042000 vs loss 4077000 revs 385 mln vs 503 mln 12 mths oper shr profit six cts vs loss 43 cts oper net profit 336000 vs loss 2176000 revs 1378 mln vs 2091 mln company corrects to show profit rather than a loss for current 12 mths oper shr and oper net
chinas largest sulphur iron mine has started trial production at yunfu in the southern province of guangdong the china daily said
dixons did not name the shareholder and did not disclose the holders stake in cyclops
he did not give the exact location of the area attacked but ganaveh terminal is on the iranian gulf coast some 30 miles northeast of kharg island which itself has been attacked at least 135 times since august 1985
twa filed a 13 d with the securities and exchange commission reporting its holding of 4023200 shares of usair
united security financial corp of illinois said it has signed a letter of intent to buy robert co
and newsweek said 52 per cent of those questioned believed the administrations accomplishments outweighed its failures
year ago results restated to reflect deconsolidation of guaranty national
shr loss 331 dlrs vs profit 94 cts net loss 6073000 vs profit 1823000 revs 589 mln vs 692 mln
the documents said peso proceeds can be invested in selected industries under the philippines debt equity program
shippers can choose their best period of 12 consecutive months between april 1 1985 and september 30 1987 to be used for calculating the export performace portion
further yen rise would hurt japan economy sumita
liquidity in the philippines rose in december while loan demand and short term lending rates fell the central bank said
president jose sarney today declared a war without quarter on inflation and said the government would watch every cent of public expenditure
qtly div 69 cts vs 69 cts prior pay may one record april 10
resource exploration inc said it has agreed to let langasco energy corp drill 50 oil and natural gas wells on its clinton sandstone formation within its tuscarawas and harrison county ohio area of operation
bernstein and co raised its earnings estimate of the company based on expectations of better truck orders and truck tonnage traders said
jacobs told he sold the gillette stake which he called substantial but under five pct a few weeks ago over a period of several days
michael said the breakout projects gains to 103 in june t bonds and there is an outside chance to reach 106 keefe warned however that confirmation also is needed from other technical indicators such as relative strength indexes and short term momentum indicators
some delegations are still awaiting formal instructions from capitals but informally most have indicated they favour an extension delegates said
communaute urbaine de montreal is issuing a 75 mln canadian dlr bond due april 22 1997 carrying a coupon of 8 7 8 pct and priced at 101 5 8 banque nationale de paris said as lead manager
but while the terms are in line with the market they are somewhat tight bankers said
lomas and nettleton financial corp said its shareholders approved at a special meeting the companys acquisition of equitable life leasing corp for 2633 mln dlrs
shr profit one ct vs nil net profit 163016 vs loss 23527 revs 250469 vs 48473 note full name consolidated professor mines ltd
qtr ends jan 31 shr profit eight cts vs loss 38 cts net profit 2466000 vs loss 12691000 revs 1111 mln vs 1068 mln 12 mths shr profit 20 cts vs loss 47 cts net profit 6591000 vs loss 155 mln revs 3426 mln vs 3704 mln note includes provision for store closings of foreign operations of 3897000 for 1986 qtr and 1403000 for qtr prior
but it said investment banking firms should be allowed to continue to engage in both arbitrage and merger and acquisition activities so long as those functions were kept separate
shr 55 cts vs na net 2512000 vs 773000 year net 7123000 vs 3098000 assets 4177 mln vs 2511 mln deposits 3294 mln vs 2301 mln loans net 3661 mln vs 2052 mln note some per shr amounts not available as company converted to public ownership in july 1986
one tea broker said pakistans move had already affected kenyas tea trade and was largely responsible for an average fall of two shillings a kilo at the export auction in mombasa last monday
sosnoff bid 28 dlrs per share or 7252 mln dlrs for the 864 pct of caesars world stock he does not already own standard and poors noted
japan central bank buys one billion dlrs in tokyo
unocal ucl unit cuts crude oil posted prices
the run on the dollar against the yen came in a market thinned by the absence of many dealers for a forex club meeting in hamburg
on the demand side the obvious policy is an excise tax on transportation fuels krapels said
world bank chief urges more japanese investment
the order was given to the hudong shipyards in shanghai after lengthy negotiations with west german shipbuilders the company said in a statement
the spokesman said exchange rates were made by the market not the central bank and it would be impossible to influence individual parities separately
a basket is a local measure equal to 46 lbs
the increase brings suns posted price for the west texas intermediate and west texas sour grades to 1750 dlrs bbl
orbit increases oil and gas reserve values
the start up of a swiss futures exchange has some bankers considering if a similar exchange would be useful in west germany
allied signal said in december it was offering for sale amphenol and six other operating units in its electronics and instrumentation sector
shr 25 cts vs 20 cts net 801000 vs 703000 revs 6318000 vs 3926000
ford f nears gm gm in executive bonuses
in the first quarter of 1986 bankamerica earned a profit of 63 mln dlrs but turned in a loss of 518 mln dlrs for the year as a whole
japans long term banks will soon cut their prime rate now at a record low 55 pct by 02 or 03 percentage point in response to falling secondary market yields on their five year debentures long term bankers said
however braverman said that from a longer term perspective current bond prices provide a buying opportunity despite a nearly one point bond price rebound friday on unexpectedly weak march employment data key 30 year treasury bonds lost 2 1 4 points in price for the week as a whole and thursdays 793 pct closing yield was a 1987 high
transit financial holdings inc earlier reporting higher fourth quarter and full year earnings said it expects 1987 share profit to increase to 127 dlrs from 83 cts in 1986
its agreements with dixons are binding and dixons indicated it will not rescind or waive any provisions of the pacts cyclops said
fed says it buys 550 mln dlrs of bills for customer may through sept 24 maturity
british columbia resources investment corp earlier reporting higher full year operating losses said it reached agreement in principle with five lenders providing for a 360 mln dlr credit facility over a four year term
20
the issue is available in denominations of 1000 and 10000 australian dlrs and is guaranteed canadian imperial bank of commerce
much of the rise reflected quarterly interest payments
overseas shipholding group inc president morton hyman said if oil production by opec rises during the second half of 1987 freight rates for tankers should rise accordingly
fairly hectic week in raw sugar woodhouse says
the united states emphasis on its foreign trade deficit is misplaced and the countrys real problem lies in its large federal budget deficit the general agreeement on tariffs and trade gatt said
chase manhattan corp said chase trans info a subsidiary of its chase manhattan bank na unit has bought borg warner corps traffic services business including an illinois processing center for an undisclosed sum
oper shr loss 30 cts vs profit eight cts oper net loss 5887996 vs profit 1620312 revs 324 mln vs 485 mln note 1987 net excludes extraordinary gain of 27 mln dlrs or 14 cts shr from settlement of provision for discontinued operations vs yr ago tax gain of 562248 dlrs or three cts shr
latin oil producers to meet in caracas
it currently has 7660000 dlrs in outstanding debt
it also said lower 1986 earnings were due to much lower earnings in transportation equipment and losses in steel castings and forgings which offset gains in the mining sector and improvements in forestry equipment
the us on the other hand has not cut its budget deficit as japan and west germany have urged she said
kell houssels iii told 
for example between 1985 86 and 1986 87 the ec intervention price for bread wheat fell from 20930 to 17944 european currency units ecus it dollar terms the currency in which most export transactions are denominated the intervention price however rose to 193 dlrs from 168
however he was skeptical a company outside the package delivery industry would want to outbid 40 dlrs per share because it would not have the same synergies as a courier company
kaufman board kb units cut quaker ksf stake
the senior republican on the us senate agriculture committee richard lugar of indiana called for repeal of the cargo preference law that aids the american shipping industry but which he said hurts farmers
endevco inc said it has agreed to acquire a 175 mile 16 inch pipeline in marion and pearl river counties mississippi for undisclosed terms
the loan which has a may 1 coupon and paydate will go towards the governments financing of an estimated 1987 borrowing requirement of about 42 billion guilders
coca cola spokesman said rumors coke seeking takeover of wendys are not correct
sudan rejects imf demand for devaluation
one always likes a situation like that
the situation at these ports was as follows giving the number of ships loading awaiting berth and expected respectively
it said the group has been advised by first boston incs fbc first boston corp that the investment banker is highly confident that financing for the acquisition can be consummated narragansett said the offer is subject to negotiation of a definitive merger agreement and definitive financing agreements as well as approval by regulators tafts board and tafts stockholders
the monetary authority of singapore mas which approved the five underwriters aims to issue seven billion dlrs of treasury bills notes and bond issues in the first year
central bank governor jose fernandez said the 103 billion dlr debt restructuring package he and finance secretary jaime ongpin negotiated with the philippines commercial creditors was better than mexicos
current profit for the year was estimated at 17 to 18 billion yen down 20 to 24 pct from a year earlier he said
you cant expect to get very far at the first meeting one banker said
we urged the congress to go on record through a resolution stating its commitment to protect the stock beesley said
they said it was likely the 51 mln dlrs in sanctions would be lifted by the end of the month
shr loss four cts vs profit four cts net loss 93574 vs profit 100469 revs 3125532 vs 3253239 nine mths shr loss three cts vs profit seven cts net loss 67184 vs profit 179116 revs 9125965 vs 9284055
financially strapped ivory coast long regarded as one of africas showpiece economies is going through difficult times following the sharp slump in the world price of cocoa and coffee
this in turn could lead to urgent appeals from latin american countries faced with mounting debt problems to the us state department and to the national security council in the white house for an easing of the us position us officials said
shr 90 cts vs 66 cts net 924000 vs 679000 loans 887 mln vs 674 mln deposits 1655 mln vs 1067 mln assets 1815 mln vs 1245 mln
sales of silver also rose to 165968 ounces from 109516
the preussag statement said results fell in 1986 compared with 1985 because declines in earnings in metals oil and shipping were not entirely compensated by positive trends in the groups other divisions
shr 67 cts vs six cts net 16 mln vs 131630 revs 65 mln vs 45 mln year shr 85 cts vs 19 cts net 20 mln vs 427749 revs 251 mln vs 174 mln note 1986 net includes 14 mln dlrs in tax loss carryback
aloha inc said its leveraged buyout by aq corp which acquired 91 pct of aloha common and 82 pct of aloha preferred in a tender offer that concluded december 26 has been completed for 2850 dlrs per common or preferred share
while not entirely unsympathetic to critics of its policies the central bank keeps its grip firm and the range narrow
an additional 175000 tonnes of wheat flour are still available to iraq under the export enhancement program initative announced january 7 1987 the department said
heating oil prices rose 30 pct in february after a 180 pct rise in january the department said
the united states and 12 other industrial nations granted argentina a 500 mln dlr bridge which was received this week
if the average weight is down and there is no price weakness to delay marketings the cattle would be marketed at lighter weights which could reduce the beef supply as much as three pct
payment date is also april 7
he said about 20 pct of the companies products overlap
but analyst michael lucky of shearson lehman brothers inc said us car sales will weaken and gms new products if successful will only slow but not halt the erosion of its market share
1987 net both periods includes pretax charge 692000 dlrs from amortization of goodwill
top officials of leading industrial nations arrived at the us treasury main building to begin a meeting of the group of five
bowne and co inc said its board declared a two for one stock split payable may 10 to holders of record april 17
the march contract ends trading this week making may and july the two spot or unlimited contract months next week
the soviet communist party has criticised the countrys grain products ministry for failing to ensure proper grain storage turning out poor quality bread and for unsatisfactory book keeping pravda said
our foreign debt is high but we can pay and i hope the foreign banking community will maintain its position toward us he said
damage insurances made losses mainly due to car damage insurances
the 1979 81 inflation following strong 1977 78 money growth reflected other causes such as rising oil prices and the falling mark
united said the approval would lead it to an equity return level comparable with the electric utility industry average
the concentration of securities in the hands of such long term holders has left little scope for trading activity he said
fed adds reserves via customer repurchases
the promotion policy is geared to make sure that both foreign investment and local private capital come more into play as far as manufacturing capacity is concerned tigrel said
an increase in revenue from other sources was not planned
at least 26 people died when a car ferry struck a pier as it left belgium for britain a nurse who took part in the rescue operation said
wilfred american educational corp wae 4th qtr
because of recent divestitures chevron usa said the agreement does not cover gulf brand outlets in alabama florida georgia kentucky mississippi north carolina south carolina and tennessee as well as delaware new jersey new york pennsylvania and new england
burnup and sims inc bsim 3rd qtr jan 31 net
at that time the company said it would create 14 new groups of such stores
nacco reported earnings of 108 mln dlrs or 111 dlrs a share in last years second quarter
the company said the unsolicited bid by the carl c
closing is subject to completion of legal formalities derlan said
louis businessmen
shr loss 24 cts vs loss 13 cts net loss 619956 vs loss 340735 revs 172 mln vs 182 mln nine mths shr profit six cts vs loss 92 cts net profit 172384 vs loss 2437333 revs 577 mln vs 575 mln
foundation cuts wurlitzer wur stake
french aid to togo to help coffee cocoa trees
reagan signs ginnie mae bill voices concern on fees cap
uk money market gets 103 mln stg help
oper net 466 mln revs 392 mln 12 mths oper net 65 mln vs 471 mln revs 590 mln vs 591 mln note eight months represents earnings following acquisition in may 1986 when company went private
were pleased that they have moved in tabling a proposal
qtly div 14 cts vs 19 cts prior pay march 31 record march 16 note quarterly dividend for prior quarter included special payout of five cts a share
if the bill is narrowed to just winter wheat then supporters of a 0 92 feedgrains amendment will probably not offer their proposals next week sources said
bayer said mobay its primary chemicals company reported net income of 834 mln dlrs up eight pct of 1985
3 1987 excludes 423 mln dlrs of interest expenses 416 mln dlrs of acquisition adjusments and 17 mln dlrs of income taxes
us bank discount borrowings 361 mln dlrs
the industrial production index base 1980 stood at a provisional 1041 in february against 1009 in january and 1045 in december
shr two cts vs two cts net 69831 vs 107773 revs 1068905 vs 2401518 six mths shr three cts vs three cts net 129649 vs 155089 revs 2673141 vs 4666104
british petroleum company plc bpl has completed its merger with standard oil co of the us srd raising its holding to 100 pct from 55 pct bp said in a statement
donegal group inc which today reported earnings of 155764 dlrs on revenues of 6506792 dlrs for the period from august 26 startup through the end of 1986 said it expects much improved profits for the full year 1987 on revenues of about 32 mln dlrs
i expect this development to continue in the coming months asked about his expectations of a us european community trade war poehl said such an event would be disastrous
new plan realty trust said it plans to redeem on april 30 all of its outstanding 8 3 8 pct convertible subordinated debentures due nov 15 2000
david ericksen director of asas technical services said us soybean producers could regain about one half of the 273 mln dlrs in sales lost to imported tropical oils if consumers were aware the vegetable oils were high in saturated fat
lawson foresaw london becoming the worlds pre eminent financial centre because it was more international in character and more favourably placed in time zones than new york or tokyo
the offer originally was scheduled to expire april 13
traders in several centres said the market would look for fresh opportunities to test the willingness of central banks to defend current ranges which the communique said were broadly consistent with economic fundamentals and the basic policy intentions outlined at the louvre meeting dave jouhin senior dealer at midland bank in london said theyre going to put somebodys resolve to the test soon the us february trade data may provide the trigger dealers said
itel corp said it has completed the previously announced acquisition of the container fleet and related assets of castle and cooke incs flexi van leasing inc subsidiary for about 130 mln dlrs in cash and marketable securities 30 mln dlrs in notes three mln common shares and the assumption of liabilities
qtly div class a 27 1 2 cts vs 27 1 2 cts qtly div class b 24 1 2 cts vs 24 1 2 cts pay april 10 record april three
anova describes itself as a publishing and financial services firm specializing in arranging revers acquisitions and mergers between blind pools shells and private companies
about 2800 ufcwu members have been locked out at the dakota city plant since december 14
president reagan said he was pleased with the actions of some banks to reduce their prime lending rates today and said he sees room for a further decline in interest rates
electromedics lost 6000 dlrs in last years first quarter
general mills said at the end of the third quarter its return on average equity was 316 pct
pacific gas and electric co said its diablo canyon unit 2 nuclear power plant will begin its first refueling today after about 13 months of operation
the bank of england said it gave the money market late unspecified assistance of around 185 mln stg
the dividend is payable april 15 to holders of record on april 3
baker acknowledged darman would be sorely missed
morning weakness in sterling and the gilt market was largely attributed to a newspaper opinion poll showing that the conservative governments support was slipping
bremer landesbank kreditanstalt finance curacao nv is issuing a 40 mln australian dlr eurobond due april 24 1990 paying 15 pct and priced at 101 3 8 pct lead manager anz merchant bank ltd said
the securities which are not callable for 10 years carry a rating of a 3 from moodys investors service inc and one of bbb plus from standard and poors corp
ferruzzi is one of several groups bidding to buy all of corn products installations in europe
shr loss 28 cts vs loss 29 cts net loss 2086477 vs loss 1466907 revs 218864 vs 60000 avg shrs 7510781 vs 4990168
in the annual report the company called for imposition of an oil import fee by the us government to set a floor price of about 25 dlrs a barrel for crude oil
century business credit corp said it will make an announcement concerning its delay on the american stock exchange this morning
the dollar intervention was in concert with some other central banks they said
the corn bonus to be paid in generic comodity certificates amounts to two dlrs per bushel based on the ascs program payment yield for corn for each acre of corn based accepted into the reserve
asked to comment on a report from jakarta saying indonesia hoped colombia could use its contacts with brazil to suggest a compromise on the quota issue cardenas said the brazilian stand was quite clear
overall exports from china the leading exporter last year will remain at exceptionally high levels this year despite quality complaints and difficulties in implementing some earlier high priced contracts
the indicated premium is 2 1 2 pct
hadson corp hads offering of 375 mln shares of common stock through shearson lehman brothers inc and painewebber inc
in july september domestic demand contributed one percentage point to gnp growth while foreign trade knocked off 03 point
it hasnt been critical by any means said a coffee trader in santos who noted that coffee was still moving on foreign ships
the transaction is expected to result in a charge for discontinued operations of about two mln dlrs but is also expected to generate substantial cash flow to pay off egg related indebtedness of about 75 mln dlrs and to further improve working capital
general partners to raise bid for gencorp gy 
the printer called primage 90 gt is priced at 1500 dlrs and can be combined with the companys paper handling systems primage said
jem record inc jemr 2nd qtr jan 31
the growth curve has therefore come closer to the three to six pct 1987 target corridor for central bank money stock growth pointing to the success of the current policy he said
interco inc said its shareholders and shareholders of the lane co laneo approved the merger of the two companies
but in an interview with during the flight to tokyo yesterday lyng said the goal of his trip was to throw an international spotlight on japans agricultural import protection in the hope pressure would build on tokyo to open its markets
the bill would then be sent to reagan for signature
inflation is not such a constructive factor as this time last year but its not building up a large head of steam said allan leslie of discount corp
mthly div 15 cts vs 15 cts prior pay april 30 may 29 june 24 record april 15 may 15 june 10
rostenkowski says he will oppose protectionist trade bill in us house
as with the previous 64 eep initiatives sales of us barley malt would be made to buyers in colombia at competitive world prices usda said
the group gave no reason for the sales
this will change the way oil is transacted in the real world said said thomas mckiernan mckiernan and co chairman
dart has said it would offer 4175 dlrs cash for each sgl share if the sgl board recommended the offer to shareholders
1986 net both periods includes charge 768000 dlrs from reversal of investment tax credits
the company said it will treat the merger as a pooling of interests
four major japanese steelmakers plan to form a seamless pipe export cartel for markets other than the us and the european community for a year from april to keep prices above output costs company officials involved said
this further weakened sentiment the bundesbank could move to a more accommodative monetary stance dealers said
the agency said that people express has not legally merged with continental airlines inc a unit of texas air corp even though the two have integrated their flight operations
ended february shr 69 cts vs 66 cts net 377 mln vs 349 mln revs 2558 mln vs 2888 mln avg shrs 547 mln vs 532 mln 12 mths ended feb shr 323 dlrs vs 317 dlrs net 1748 mln vs 1663 mln revs 14 billion vs 15 billion avg shrs 541 mln vs 524 mln
callon petroleum co clnp 4th qtr loss
shultz feels like he fought the battle against a subsidy last summer and hes not going to the mat again
a us navy battle group led by the us aircraft carrier kitty hawk is in the northern arabian sea amid renewed concern about the safety of shipping off the coast of iran us officials said today
by contrast slifer said imported goods prices rose 118 pct from first quarter 1985 to first quarter 1986 reflecting to a large degree a 22 pct drop in the trade weighted real value of the dollar from february 1985 to february 1987
biomedical dynamics corp bmdc 4th qtr net
a statistics office official added retail turnover had risen by 76 pct in december compared with the year ago month a slight upward revision from the 75 pct increase provisionally posted
fees total 1 1 2 pct comprising one pct selling concession and 1 2 pct management and underwriting combined
microwave laboratories inc mwavo 4th qtr net
a spokesman for national steel corp a joint venture of national intergroup inc nii and nippon kokan kk said the company is not in the product lines affected
hughes vice president ike kerridge said the recommendation would be put to shareholders at a meeting scheduled for 10 am local time 1600 gmt to discuss the proposed merger
utilicorp united corp said it expects to report 1987 first quarter earnings of about 12 mln dlrs or about 112 dlrs a share and revenues of about 190 mln dlrs
butler btlr completes sale of livestock unit
domestic group turnover rose 82 pct to 293 billion marks and incoming orders increased 19 pct to 292 billion marks
us coffee import reporting system questioned
malaysia expects rubber shortage in april may
us commerce secretary sees higher gnp growth
argentina has said the barriers and subsidies cut unfairly into the countrys traditional markets for its grain exports
urs corp urs regular stock dividend
the company said president and chief executive officer morris moliver had been chief operating officer as well
yergin said that imports above 50 pct of us requirements is a critical symbolic level
methyl chloride is an integral part of silicone production
the partnership has earlier offered 100 dlrs per share for gencorp a tire broadcasting plastics and aerospace conglommerate
the sources added that two key members of the negotiating team returned to manila last night indicating agreement was likely to be hammered out by this weekend
commonwealth bank cuts australia prime to 175 pct
full name of company is mobile communications corp of america
the application which was approved unanimously will not eliminate sears savings as a competitor the fed said
it said wheat stocks at the end of 1986 were 390000 tonnes up from 223000 at end 1985
it said the units being sold lost 28 cts per share in the first nine months of fiscal 1987 and 12 cts in all of fiscal 1986
that statement however did not close off the possibility of a public offering or other option for shearson
maize harvesting also advanced reaching between 13 and 15 pct of total planted area compared to seven to nine pct a week ago
listing is in frankfurt
the agency will have to review its policies on insuring export credits to lesser credits on a country by country basis he said
the interest rate will be at 13 16 pct over eurodollar deposit rates the margin that applies to the entire package
international rubber organisation inro buffer stock manager aldo hofmeister said tests had shown the quality of rubber in stock was acceptable but acknowledged that some consumers were now wary of buying it
the firm would have made a small profit in 1985 had it not been for 456 mln schillings lost by subsidiary merx handelsgesmbh on oil trading
japan maintains a quota on beef imports set at 58400 tonnes high quality beef in fiscal 1987
weve no plan to bid blair told reporters after a speech to a business group although he stressed that nova and 57 pct owned husky oil ltd hyo were interested in domes extensive western canadian energy holdings
us trade representative clayton yeutter called us japan relations on certain key trade issues very strained
even with a favorable vote of 65 to 15 the restrictions were weakened in the final version
shr loss 20 cts vs profit 96 cts net loss 499000 vs profit 2369000 revs 115 mln vs 103 mln note prior year net includes gain on sale of property of 4557000 dlrs
we certainly really have not found an effective means of turning this disease around said rep
the largest us textile maker focused on its own business as its competitors found merger partners but now burlington industries inc may have restructured itself into an attractive takeover candidate analysts said
in march the central bank clamped tight restrictions on remittances of foreign exchange by companies and individuals to taiwan in a move to curb inflows of speculative money
qtly dividend 65 cts vs 65 cts pay april 15 record march 31
indonesia cannot spend its way out of recession and has very limited economic options due to lower world oil prices central bank governor arifin siregar was quoted as saying by the official antara news agency
it took into account reviews of both public and non public information
may had planned to make the acquisition an expansion of its sibleys department store co which operates in syracuse rochester and buffalo ny
effective today the exchange will permit normal daily price limits in those commodities to expand whenever the first two limited contract months move the limit in the same direction for two consecutive sessions
shr diluted loss 46 cts net loss 6300000 nine mths shr diluted loss 1089 dlrs net loss 309100000 note no comparisons because company was formed in june 1987 through merger of republicbank corp and interfirst corp
industrial equity pacific ltd a hong kong investment firm said it raised its stake in wrather corp to 816000 shares or 113 pct of the total outstanding common stock from 453300 shares or 63 pct
dealers said federal funds were trading at 6 3 8 pct when the fed began its temporary and indirect supply of reserves to the banking system
more
davis water dwws declares stock dividend
revenues from the trail smelter totalled 356 mln canadian dlrs in 1986
the company paid an initial liquidating dividend of 1575 dlrs per share on january eight
current nine month figures include gain of 205 mln dlrs on property sales vs gain of 19 mln dlrs
unadjusted january unemployment totalled 182 mln people up from 161 mln in december and 165 mln a year earlier
treasurys baker hopes prime rate rise temporary
since 1935 we have been regular suppliers of sugar to the us in 1982 when they restored the quota system they cut ours in half without any justification manila was keenly watching washingtons moves to cut domestic support prices to 12 cents a pound from 18 cents
the acquisition represents a dramatic departure from managements stated financial policies s and p said
senator says energy report assumptions flawed
suffields ssbk coastal csbk buy cleared
lf rothschild unterberg towbin analyst frederic cohen estimated tandems second quarter net at 40 to 45 cts per share
in april the current account recorded a deficit of 300 mln schillings compared with an 800 mln surplus in march and an 800 mln deficit in april 1986 the bank said in a statement
shr two cts vs eight cts net 118933 vs 296272 revs 2742731 vs 1840129 six mths shr two cts vs 12 cts net 92372 vs 444975 revs 4977105 vs 3296110
for years the softly spoken economist has been warning in speech after speech that excessive money supply growth would eventually lead to rising prices
american greetings corp agreao 1st qtr net
emerson emr to issue new zealand notes
thesing verwaltungsgesellschaft gmbh of coesfeld west germany is issuing a 10 mln swiss franc eight year bond with an indicated 6 3 8 pct coupon and par issue price joint lead managers fintrelex sa and egutzwiller und cie banquiers said
oilseeds in the northwest region were about 80 pct emerged in many areas with other regions 50 to 70 pct emerged
roadway motor plazas inc 3rd qtr jan 31
cato which had been publicly held several years ago before going private operates a chain of womens specialty stores in small to medium sized towns
instead the community is trying to target problem areas in european trade with japan including wines and spirits cosmetics and financial services and will continue talking to try to improve the situation the diplomats said
in a speech to the institute of contempory german affairs here poehl said it would be an extremely risky policy to aim for a further substantial decline in the value of the dollar to correct the trade deficit he said the united states could face a vicious circle of depreciation inflation and more depreciation if it took that route
paton reports us green coffee roastings higher
fcoj movement 4496533 gallons last week
further argentine coarse grain losses feared
shr 28 cts vs 32 cts net 2823000 vs 3216000 rev 479 mln vs 429 mln note the 1986 earnings per share adjusted for a four for three stock distribution paid may 1986
maryland national mdnt sees new name
analysts said the banks decision not to offer stock next week reflects the higher demand for funds at the start of the system of provisional tax payments
several lawmakers have argued the new trade bill made too many concessions to reagan and said they intend to back amendments to get tough with countries that violate trade agreements or keep out us products
the letter of credit will be underwritten by a group of banks who will be paid a 20 basis point facility fee and a 25 basis point utilisation fee
kansas city southern industries inc said an attempt by santa fe southern pacific co sfx to reopen the proposed merger of the atchison topeka and santa fe railway co and the southern pacific transportation co offers nothing truly new in a letter to shippers kansas city chairman landon rowland stated this proposed merger is plainly anti competitive as found by the icc and urged by the department of justice
high wage settlements in nordic countries threaten to cut exports and reduce the international competitiveness of their industries the organisation for economic cooperation and development oecd said
shr loss 38 cts vs profit eight cts net loss 104 mln vs profit 2144317 revs 729 mln vs 674 mln nine mths shr loss 21 cts vs profit 38 cts net loss 5747393 vs profit 101 mln revs 2246 mln vs 2006 mln note current year net both periods includes 200 mln dlr pretax charge for disposition of 21 underperforming company owned restaurants
however japanese investors have lost money as the dollar falls and will lose more if the united states lets it fall further to cut the trade deficit
additionally the company said it is willing to negotiate all aspects of its offer and is willing to consider a transaction which would be tax free to crazy eddies shareholders
the divisions manufacture and distribute greb hush puppies kodiak and santana brand shoes and had revenues of about 69 mln dlrs last year warrington said
government cash balances rose 137 billion dlrs to 568 billion dlrs in week ended march 11
in a filing with the securities and exchange commission warburg pincus said one of its top executives rodman moorhead who is also a symbion director met april 1 with symbions financial advisor lf rothschild unterberg towbin inc
previewing the summit which he expected would not produce any major new economic initiatives lawson told reporters work remained to be done on improving the conditions for lasting world economic growth 0side measures to boost growth he said
we have nothing to lose
it is now up to the government to decide whether to change the duty
the overall balance of payments surplus rose to 840 mln dlrs in february from 716 mln in january and 76 mln in february 1986
talking to journalists before a meeting of european community economy and finance ministers here tietmeyer declined to say whether the february 22 paris accord by the group of five countries plus canada included secret agreements for stabilising currencies
but the european community has challenged the agreement as a violation of general agreement on tariffs and trade gatt practices that discriminates against its microchip producers
new dutch advances total 48 billion guilders
ccc accepts bonus bid on cattle for egypt usda
boise homes sold commercial and residential prefabricated structures modulaire said
aero services international inc aeroe year
atlantic research atrc completes acquisition
pakistans corporate law authority cla has begun an enquiry into imports of tea from kenya and the trade imbalance between the two countries cla chairman irtiza husain confirmed
general systems research inc said it concluded a 15 mln dlr private placement with the government of alberta
leslie said fed actions and reserve data once these pressures abate will show whether or not it is firming policy
a department spokesman said the sharp fall in february reflected some compensation for the flat figure in january and continued the downward trend seen in the past six months
rha said that 1986 was the first year south korea had a trade surplus 45 billion dlrs against a 1985 deficit of 900 mln dlrs
if brazil which suspended interest payments on its term debt on february 20 continues to defer interest payments for the rest of the year net income for the whole of 1987 would be reduced by a total of 72 mln dlrs
the british naval source said the silkworms were in place at at least two sites around the strait of hormuz but would not give the exact location
warehouse club inc said it expects to take a one time charge of about five mln dlrs on its june 30 third quarter results from closing of two unprofitable chicago area units
service control corp said it has started a tender offer for all shares of american service corp at 37 dlrs each
they may need an emergency meeting to sort out the problems said daniel yergin director of cambridge energy research associates cera
cyacq offers to raise cyclops buyout to 9250 dlrs shr from 80 dlrs
interco iss completes lane lane acquisition
trading in perpetual issues which pay interest but never mature has come to a virtual halt
the company said if it reinvested proceeds in a similar property within 24 months the gain on the sale would be deferred for tax purposes
philips electrical sells stake in unidare
oakwood homes oh sells convertible debentures
boliden takes over allis chalmers division
leading domestic semiconductor makers will boost imports and cut production of key memory microchips from next month in line with government attempts to ward off us trade sanctions company spokesmen said
shr 17 cts vs 28 cts net 2668000 vs 3655000 revs 939 mln vs 838 mln avg shrs 157 mln vs 132 mln 12 mths shr 48 cts vs 58 cts net 7510000 vs 7482000 revs 2288 mln vs 1819 mln avg shrs 157 mln vs 129 mln note full name of company is audio video affiliates inc
under the facility notes in denominations of 500000 dlrs will be issued with maturities ranging from one to six months
bank officials have said the bank regards the overdraft reference rate based on short term rate trends as its key prime lending rate to corporate customers
malaysias debt service ratio will also be maintained at a level no higher than 20 pct he said
brockway inc brk 3rd qtr net
cut were the companys first mortgage bonds and secured pollution control issues to baa 2 from baa 1 and eurobonds unsecured pollution control debt unsecured medium term notes and preferred stock to baa 3 from baa 2
last week the company declared an initial quarterly dividend of four cts
the acquisitions will be converted to pizza hut restaurants said national pizza and are expected to generate annual sales of approximately eight mln dlrs
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 650 mln stg while bankers balances below target will take out around 50 mln stg
the spot riyal was little changed at 37501 03 to the dollar after quotes of 37498 7501 yesterday
bp units seek five billion dlr revolving credit
analysts said sterlings dip on currency markets following lawsons remarks made an early half point cut in uk base rates from current 10 pct levels unlikely in the short term
the last price increase made by oil companies was around may 22
there has been speculation that domes assets are capable of supporting debt of three to four billion dlrs so on that basis the transcanada offer would be at the upper end of that gobert said
pda said it anticipates resuming shipments in the fourth quarter
oper shr loss 24 cts vs profit 24 cts oper net loss 716000 vs profit 729000 revs 3673000 vs 7826000 avg shrs 2930000 vs 2930000 year oper shr profit nil vs profit 131 dlrs oper net profit 10000 vs profit 3200000 revs 129 mln vs 263 mln avg shrs 2930000 vs 2454521 note net excludes realized investment gains of 2000 dlrs vs 13000 dlrs quarter and 104000 dlrs vs 6000 dlrs year
industry officials have disputed this saying the diseases that develop a resistance in cattle probably do not affect humans
we dont think agreements are the best instrument to help developing countries
uk money market deficit forecast at 300 mln stg
gulf barge freight rates up further on call
it forecast the ringgit will remain stable at between 260 and 270 malaysian dlrs to the us dollar for the rest of the year
for their part borrowers say they feel a bit like guinea pigs
beghin say is also planning to finance european expansion for its kaysersberg subsidiary another major reason for its capital increase
but the index was down 29 pct from a year earlier
oper shr 28 cts vs 116 dlrs oper net 194000 vs 1255000 sales 275 mln vs 305 mln year oper shr 268 dlrs vs 63 cts oper net 1880000 vs 684000 sales 1005 mln vs 1156 mln avg shrs 700086 vs 1079165 note 1986 net excludes tax credits of 1042000 dlrs in quarter and 1603000 dlrs in year
in rates hearings before the california public utility commission guinn said the company faced a potential 76 mln dlr revenue reduction and due to ongoing discussions with the commission he said the figure might even be greater
the reductions will be added on to a package of tax cuts already planned for 1988 amounting to some nine billion marks
shr 10 cts vs 14 cts net 531896 vs 727781 revs 160 mln 168 mln six mths shr 30 cts vs 39 cts net 1532431 vs 2000732 revs 327 mln vs 345 mln
television reports said that in the parana state capital of curitiba petrol stations were only supplying fuel for exceptional cases such as ambulances and funeral processions
diplomats expect the government to ask the world bank and other foreign donors to provide most of the foreign exchange portion
chrysler sets three for two stock split raises dividend
montreal city district savings bank 1st qtr
visual graphics sets dividends
a shareholder vote on the buyout offer is scheduled for june four
the company said the suit filed in new york state supreme court seeks to halt the ongoing misuse and misappropriation of highly confidential and proprietary information concerning jwt and its clients
a lasting stability in the world market requires a wider scope of international cooperation he added
global petroleum corp said today it lowered the posted cargo prices for number six fuel in the new york harbor 45 to 75 cts a barrel effective today
yield grade 2 3 beef cuts fabricated items vacuum packed
bank of france sells 16 billion francs crh tap
casino owner and real estate developer donald trump has offered to acquire all class b common shares of resorts international inc a spokesman for trump said
the 11254837 acres of highly erodable farmland submitted to the us department of agriculture for the conservation reserve program was within trade guesses of 10 12 mln and should have an overall neutral impact on grain and soybean prices monday grain traders said
shr 37 cts vs 50 cts net 2776000 vs 2756000 sales 469 mln vs 388 mln avg shrs 7508000 vs 5550000 year shr 58 cts vs 55 cts net 4021000 vs 3005000 sales 1259 mln vs 1128 mln avg shrs 7090000 vs 5500000
shr 41 cts vs 47 cts net 1002000 vs 931000 avg shrs 2452171 vs 1975422 nine mths shr 123 dlrs vs 141 dlrs net 3014000 vs 2776000 avg shrs 2444591 vs 1967539
soviet sugar imports in october and november were significantly higher than in the same period of the year before according to figures received by the international sugar organization
for the first time all participants at the summit agreed that a further fall in the dollar would be harmful for all world economies including the us poehl had said
instead irt mandated chandler partnership to find potential investors with whom the issue can be preplaced and to then place on a best efforts basis what ever amount may not be subscribed
uk lenders offer more fixed rate mortgages
amc imposes hiring freeze due to takeover bid
mining could start in 1988 subject to a satisfactory feasibility study
republic pictures corp rpica 4th qtr loss
its extremely strong he said
agriculture minister denis bra kanon said earlier this month 1986 87 cotton output would be a record 213506 tonnes compared with 190000 tonnes in 1985 86
the bureau placed february factory production of edible tallow at 969 mln lbs vs a revised 1114 mln lbs the previous month and 1227 mln lbs in february a year earlier
moet hennessy shares closed on the paris bourse today at 2678 francs up 38 from yesterdays close
the company earned 338 dlrs a share in 1986
while the belgian government has made progress in trimming its borrowing requirement it will probably be insufficient to check the self sustaining nature of the deficit the oecd said
hollinger inc said it completed the previously reported acquisition of privately held unimedia inc the owner of three french language daily newspapers and four printing plants in ontario and quebec
a new date has not been set but it will likely be no sooner than next march powers said
audis entire 1985 net profit was paid into its own free reserves to help finance investment
this compared with 111 pct unemployment in the first quarter of 1986
when the deal is completed sometime in august the companys revenues will exceed 450 mln dlrs pushing it past microsoft corp mfst as the worlds largest independent software vendor
posted county prices in 99 southern texas counties have been changed to reflect only one market differential instead of the usual two terminal market pricing system a senior agriculture department official said
but being interested can sometimes be different from making a bid blair said
the rights issue would cut borrowings and also allow further development through investment and acquisition
lsb industries inc said it entered into an agreement to acquire northwest federal savings and loan association of woodward oklahoma
chris kotowski an analyst with oppenheimer and co said the sale of the package of energy loans was the first encouraging news from first city in months
in a 30 minute meeting tanaka told brazilian finance minister dilson funaro the bank would consider his countrys request for a 300 mln dlr credit in the context of international cooperation the officials said
even the asset sales while regrettable were necessary to reduce debt silas said
nigeria is due to receive 900 mln dlrs in fresh export credits this year from official agencies under a structrual adjustment program drawn up by nigeria and the world bank to support a rescheduling of part of the countrys 19 billion dlr foreign debt
canadian roxy said drilling has started on a follow up exploratory well about one mile northwest of the discovery well
bank of japan to sell 800 billion yen in bills
the payment date is may 11
arab banker says too soon for single currency
gold from south africa or the soviet union will not be used in the coin officials said adding that bullion would be bought on the world gold market
the risk at the moment is not commensurate with the possible gain icco producer and consumer delegates this morning accepted the outlines of a compromise proposal on buffer stock rules as a basis for further negotiation
the house of representatives is expected to vote tomorrow to approve a trillion dollar budget blueprint for the coming fiscal year that reduces the deficit by 38 billion dlrs
opec agreed in december to maintain official oil prices at 18 dlrs a barrel and raise the groups production ceiling to 166 mln barrels per day in the third quarter and to 183 mln barrels in the fourth quarter
the australian dollar fell to a low of 6745 55 us cents today from a high of 6902 thursday
the ruling of a gatt tribunal on a us demand that japan end quotas on 12 categories of food items is expected by the end of the year
taiwan money supply rises 4822 pct in year
the oecd attributed the rise in consumer prices to the effects of the february 1986 drop in energy prices working their way out of the index
bundesbank sets 28 day securities repurchase tender at fixed 380 pct
the april japanese government 10 year bond coupon has been set at 47 pct against five pct on the march bond
glickman offered a list of possibilities that his committee will study in order to cut farm spending
the us defense department said just 10 pct of one section of the structure remained
foreign banking analysts in oslo said access to norways second hand securities and equities markets to be approved later this spring and lower primary reserve requirements would make profit this year
there are now 1425 mln dlrs of these notes outstanding compared to an original issue of 25 mln dlrs sold in september 1985 first federal said
chemclear inc cmcl terminates merger talks
qtr ends sept 25 shr 75 cts vs 64 cts net 2794000 vs 2363000 revs 1578 mln vs 1384 mln note 1986 qtr figures exclude effect of 1986 tax reform act which retroactively reduced earnings from 64 cts to 56 cts per shr
it was one of the many options we offered the banks in order to win an attractive pricing he said
centel is asking shareholders at the annual meeting to approve the tripling to 120 mln in authorized shares
subcommittee chairman dan glickman d kans said his committee would be looking at the certificate program later this year and studying the general accounting office report on certificate costs
the agent said ns dns laydays include july 1 10 for 7500 9500 tonnes aug 1 10 for 8000 10000 tonnes and sept 15 25 for 12500 14500 tonnes
cbi survey points to surge in uk output
however government officials have ruled out any further tax reduction packages to supplement a major program of stimulatory fiscal measures already underway
he will continue to serve as a director it added
fluorocarbon fcbn buys eaton etn division
commerzbank ag cbkgf management board chairman walter seipp said that from the present viewpoint the bank must expect 1987 full operating profit to be lower than in 1986
baker has an agreement to sell the pump business to trico industries inc tro the financial terms of the merger are unchanged a hughes spokesman said
the independent directors said they will engage an expert to evaluate the fairness of the offer
gms gm pontiac has interest rate incentives
it based its predictions on its liabilities and on the resources which would be available under such a plan
allwaste alws to make acquisition
he said he had received a reassuring response from the japanese he has spoken with
new england electric is the operator of this venture as well as owning 51 pct of the project
it said the cash proceeds will be used to lower its debt costs
a ministry official told earlier this week the ministry had recently surveyed foreign exchange transactions by institutional investors but he declined to say whether this was aimed at moderating the dollar sales
panhandle eastern corp said it had made steady progress in reducing its natural gas take or pay exposure from 49 billion dlrs to 17 billion dlrs worth of potential claims
prebble said in a statement the government would appoint an adviser to help it decide how the shares should be sold the timing of any sales and the price
the statement confirmed dome received transcanadas bid but did not identify the companies involved in talks
denominations are 10000 crowns and registration is in luxembourg
the us treasurys weekly auction is expected to produce an average rate of 563 65 pct for three month bills and one of 559 61 pct for six month bills dealers said
bahrain launched a weekly tender for two mln dinars of 91 day treasury bills in mid december last year and has since raised a total of 26 mln dinars through the programme
the increase brings posted prices for west texas intermediate and west texas sour to 1900 dlrs a barrel each
the deal would give shareholders 35 dlrs a share in cash if just 83 pct of purolators 76 mln shares are tendered
the sources said south koreas yards are now some 35 pct more competitive than japans due to such factors
large initial costs for these products have depressed net profits somewhat
shr loss 141 dlrs vs profit 27 cts net loss 8225052 vs profit 1566936 revs 4028231 vs 6725462 note 1986 shr and net after 6606646 dlr writedown on property and other assets
they said a premium of 50 basis points or more would have been more appropriate
in its newly released annual report to shareholders pennzoil said it expected the texas state court judgment which was upheld by a state appeals court on february 12 to be upheld if appealed again
analysts do not expect regulatory hurdles because of the royal dutch shell group precedent
the company said revenue gains in electronics major appliances and other lines were offset by decreases in energy services and aircraft products
it had called for substantial new commercial bank lending and development bank aid in order to help debtor countries grow out of their economic troubles
continental airlines inc a unit of texas air corp is offering 350 mln dlrs of equipment backed debt securities in three tranches and another 150 mln dlrs of senior notes due 1997 said lead manager drexel burnham
financial and industrial holding company nord est plans to make a convertible bond issue for a total of 400 mln francs president gustave rambaud said
comtrex systems corp comxo year loss
he said redland wanted to maintain and build on its operations in australia and the us where monier has built up a strong presence notably in roofing tile manufacture
the value of the other components could command a higher multiple because they constitute a higher percentage of the total operating earnings of the company he said
imperial chemical industries plc icil is issuing a 100 mln stg eurobond due april 15 2005 paying 9 3 4 pct and priced at 101 1 4 pct lead manager warburg securities said
he said a commitment has been undertaken to reduce the budget deficit over time and to balance the federal governments budget current account deficit by 1989 malaysian finance minister daim zainuddin presented a budget for 1987 which foresees a deficit of 94 billion ringgit down from 116 billion in 1986 with federal spending targetted at 274 billion down from 308 billion and revenue at 18 billion against 192 billion
toshiba could be first to feel uk trade anger
in a filing with the securities and exchange commission laroche a north kingstown ri investor who already holds nearly one third of necos total outstanding commonstock also waived a condition of his offer that a minimum of 170000 shares actually be tendered
he said they were unlikely to hesitate in holding interest rates steady or even raising them again if sterling showed any signs of excessive weakness
sole manager lf rothschild unterberg towbin initially gave the debentures a 12 1 4 pct coupon and par pricing
fees comprise 1 1 4 pct selling concession with 5 8 pct management and underwriting combined
bankers contacted by said they did not envisage that the new requirement would present them with problems or push up fees
the economists said a key element in the narrowing would be a reversal of the drop in exports which took place in january after a sharp rise in december when the deficit was only 598 mln dlrs
the cia dia report predicted two to three pct growth in the soviet economy over the next several years
bp gained 2 3 8 to 59 3 4
the chairman of the federal reserve board paul volcker has written to the chairman of the house banking committee to raise concerns about legislative proposals scheduled for consideration wednesday
harkin cited what he termed excessive net returns on equity over five years of 334 pct at kellogg 319 pct monfort 228 pct nabisco 228 pct conagra 212 pct hj heinz 191 pct ralston purina 172 pct pillsbury and 167 pct quaker oats
us law prohibits most favored nation status for countries that restrict emigration and other rights
genova inc said its shareholders approved a merger into genova products inc which will be consumated within a few days
turkish banks announce higher profits for 1986
the non callable bond is guaranteed by japan and is available in denominations of 5000 dlrs
french state computer group cie des machines bull bulppa will issue 800 mln french francs worth of stock option bonds the finance ministry said
affirmed were avco financials a 3 senior debt baa 2 senior subordinated debt and baa 3 junior subordinated debt
representatives at the meeting said efforts would continue to be made to reach a regional consensus on export quotas which could be presented to the international coffee organization
islamic banks establish 50 mln dlr trade portfolio
noranda begins murdochville mine salvage
kpa will hold 70 pct of the shares in the new company
the full year earnings included a 900000 dlr net writedown of the hecks stake it said
soybean oil supply demand by country usda
ariadne group unit barwon farmlands ltd confirmed it offered 38 billion pesos in cash for the 38 mln shares of philippine brewing company san miguel corp the australia based barwon 30 pct owned by new zealander bruce judges ariadne group said in a statement released in hong kong that a formal offer had been made to the philippines government which holds the shares
uk money data may ease rate cut analysts say
general cinema corp gcn class b dividend
royal dutch rd unit to raise heavy fuel prices
the figure of 100 represents normal in a year of average growth conditions with no crop damage
the paper said the proposed rules would not cover spot foreign exchange contracts and securities traded in futures and options exchanges
manufacturers hanover mhc raises prime rate
shr 1835p vs 1495p div 375p vs 29p making 475p vs 375p pretax profit 665 mln stg vs 469 mln tax 146 mln stg vs 45 mln net profit 519 mln stg vs 424 mln turnover 144 billion stg vs 158 billion note full name of company is george wimpey plc wmpyl operating profit before exceptional items 889 mln stg vs 805 mln exceptional debits 30 mln stg vs 116 mln operating profit 859 mln stg vs 689 mln share of profits less losses of associated companies 14 mln stg vs 24 mln loss interest net payable 208 mln stg vs 196 mln attributable minority profits debits 02 mln stg vs 03 mln extraordinary items debit 34 mln stg vs 43 mln credit net borrowings 1951 mln stg vs 1935 mln
another source at the midam said this change could take place by july or august
haffenden is a moulder of hot water bottles and also produces a variety of rubber and plastic mouldings
commission members would be appointed by the sec
he said the average limit of errors for the official crop harvest could be set at five pct above or below the first estimates officially published today
note oper includes writedown of offshore drilling equipment of 5070000 dlrs for qtr and 279 mln dlrs for 12 mths
ongpin said the prepayments would hardly affect the philippines balance of payments position
the study funded by nppc with producer checkoff money evaluated pork carcasses from 47 iowa producers in categories from 07 to 13 inches of backfat
yugoslavia this year started quoting trade figures in dinars based on current exchange rates instead of dollars based on a fixed exchange rate of 26453 dinars per dollar
under terms of the injunction natures blend agreed to refrain from making and selling food supplement products under the trademark fiber slim or using any any trademark that simulates the trade dress of fibre trim
some share prices have risen by more than 35 pct since last november while banks are generally reporting a slowdown in the number of new non performing loans
morocco buoyed by an economic turnaround and last weeks paris club debt rescheduling is likely to obtain over 100 mln dlrs worth of development aid at a meeting with donors beginning here tomorrow john shilling director of the world banks moroccan division said
gould said the proposed new issue will be underwritten by first boston corp and kidder peabody and co inc
the company said the sale a previously announced agreement for coca cola to buy 1600000 coke consolidated common shares and operating cash flow should allow it to reduce its long term debvt to about 200 nmln dlrs from 325 mln dlrs at the end of the first quarter
the bank of england said it had provided the money market with 115 mln stg assistance in the morning session
there has been no rise in the price of frozen concentrated orange juice fcoj a spokesman for the banco do brasils foreign trade department cacex said
but after a quick flurry of issues that market dried up when swiss shares prices fell from their january peaks
in 1986 the company lost 14 cts a share
financial corp of america fin 3rd qtr loss
peter miller apparel group inc 3rd qtr loss
full name is education systems and publications corp
the united food and commercial workers union local 222 said its members voted sunday to strike the iowa beef processors inc dakota city neb plant effective tuesday
im tired of going into companies and having managers say to me were not over competing in japan because we cant compete in the marketplace that argument needs to be taken away from american business gephardt said
washington natl wnt buys united presidential
exley jr chairman and president said
bank building and equipment corp of america said the delaware chancery court denied a stockholders request for a preliminary injunction against an offer for bank building stock made by the company and its employee stock ownership plan and trust
marketing technologies is developing a computer based advertising system geared toward large advertisers the company said
shr 58 cts vs 57 cts net 4313000 vs 3824000 sales 728 mln vs 615 mln avg shrs 7492000 vs 6740000 year shr 133 dlrs vs 123 dlrs net 9592000 vs 8257000 sales 2264 mln vs 1844 mln avg shrs 7228000 vs 6740000
the company said it expects to release first quarter results in the third week in april
the largest decreases in the december quarter were recorded by the same stores which recorded the highest increase in sales in the september 1986 quarter before the introduction of a 10 pct value added goods and services tax on october 1 1986
the refinery processes all platinum metals of rustenburg platinum holdings ltd the worlds largest platinum producer
kuwaits petrodollar reserves in mid 1986 were put officially at over 80 billion dlrs earning investment income of the equivalent of about 365 billion dlrs a year
columbia gas system inc said a federal energy regulatory commission decision today on natural gas cost recovery could reduce its 1987 earnings by about 125 dlrs a share
the soviet trade deficit with the west almost quadrupled last year reaching 272 billion roubles compared with 713 mln in 1985 official figures showed
ec ministers bid to save dairy accord
net includes extraordinary loss 10000 dlrs vs nil in quarter and loss 10000 dlrs vs profit 106300 dlrs in half
progress in iran loan talks french official says
at end february they were 521 billion dlrs the worlds third largest after west germany and japan
oregon aluminum smelter increasing output
community bank system inc said it has entered into a definitive agreement to acquire nichols community bank for 2800000 dlrs in common stock
state run oil company ecopetrol said colombias main oil pipeline was bombed again and pumping of 170000 barrels per day was suspended
they are trying to make sure that no one discounts and to prevent that it appears that saudi arabia or some other opec member will allocate some of their oil sales to help members that lose sales margoshes said
etl said today it would offer 415 dlrs each for moniers issued capital of 15628 mln shares plus a share alternative
non consolidated net profit 3435 billion francs vs 2330 billion
delta air lines completes acquisition of western air
castonguay said laurentian group corp the parent firm plans to fill out its national financial services distribution system and make further acquisitions if the right opportunity occurs
us japan trade war not in uks interest lawson
uk insurers could face more than 30 mln stg of insurance claims following the zeebrugge ferry disaster a spokesman for lloyds of london said
mitsubishi corp mittt said it will issue a 50 billion yen unsecured seven year convertible bond and a 30 billion yen unsecured nine year convertible bond on the domestic capital market through public placement with nikko securities co ltd as lead manager
shr loss seven cts vs profit 11 cts net loss 76888 vs profit 106885 revs 752234 vs 922036 corrects year ago per share to profit instead of loss in item that ran on march 23
he was also quoted as saying the us would be pleased were japan to halve restrictions on agricultural imports within five years if the country cannot cope with abolition within three the spokesman said
earlier scott reported a 1986 loss of 19 mln dlrs compared to a loss of almost 22 mln dlrs in 1985
the following offers were in the market at the end of last week first or second hand sellers ideas for spot afloat or prompt shipment in dlrs per 50 kilos fob equivalent unless stated previous weeks prices in brackets brazil unwashed german quals 100 102 colombia excelso 105 110 salvador shg 110 108 nicaragua shg 109 same guatemala hb 111 same costa rica shb 113 112 kenya ab faq 142 134 tanzania ab faq 120 same zaire k 5 105 unq sumatra robusta ek 1 91 cif same
the mexican restaurant franchisee reported a net loss of 415493 dlrs for the six months ended november 30 1986
kraft inc said it completed the acquisition of frostex foods inc for undisclosed terms
us retail sales fell 58 pct and the us merchandise trade gap widened to 148 billion dlrs
in february the texas public utilities commission granted gulf states an interim rate increase of 399 mln dlrs contingent upon the utility obtaining a new 250 mln dlr line of credit to pay operating expenses
qtly div 16 1 2 cts vs 16 1 2 cts pay april 27 record april 20
growth is stagnant at about two pct a year and the outlook for inflation held to a 20 year low of 21 pct in 1986 is uncertain
each 1000 mark bond carries two warrants which can be converted into 500 dlrs each at an exchange rate of 186 marks
cane in excess of internal demand for alcohol and sugar is refined into sugar for sale abroad to earn much needed foreign currency
this bloc represented enough votes among consuming nations to successfully prevent adoption of the producer proposals
italys state owned banca nazionale del lavoro bnl said it is negotiating to buy a west german bank as part of its foreign expansion policy
but he said the market rushed to sell dollars as it nervously reacted to statements abroad and to developments surrounding trade tensions
moscow is officially neutral in the war between iran and iraq
as i have indicated publicly in the past i believe operating management of the company has performed well and that appropriate consideration should be given to a significant equity interest for them in the company following the acquisition sosnoff said in the letter to gluck
we are right now producing just slightly over our own consumption level the producers have never enjoyed such high prices yulo said adding sugar was currently selling locally for 320 pesos per picul up from 190 pesos last august
shr 13 cts vs 12 cts net 470000 vs 311000 revs 158 mln vs 8176000 avg shrs 3723000 vs 2512000 nine mths shr 36 cts vs 43 cts net 1138000 vs 993000 revs 405 mln vs 219 mln avg shrs 3199000 vs 2283000 note 1986 includes extraordinary credit of 160000 or six cts per shr in qtr 1986 and 511000 or 22 cts per shr in nine mths 1986
he said the report favourably assessed some trends in the yugoslav economy but did not say which
it has 11 billion dlrs of debt securities
shr profit nil vs loss nil net profit 68895 vs loss 160893 revs 33 mln vs 104801
those improvements follow a sharp downturn in 1986 when operating income for the ten companies dropped 47 pct to 105 billion dlrs and operating cash flow fell 22 pct to 290 billion dlrs
komatsu is also willing to be patient about possible routes into the securities business at home
garofalo said the largest specialty chain operated by woolworth is kinney shoe stores followed by the richman apparel unit
us to sell 128 billion dlrs in bills
repairs are continuing at a stepped up pace on the welland canal and should be completed by the april 1 start up date she added
among the main factors affecting liquidity bills for repurchase by the market will drain some 664 mln stg while bills maturing in official hands and the take up of treasury bills will take out around 508 mln stg and a rise in note circulation some 45 mln stg
the strike has cut exports and imports and made an estimated 160 ships idle
iea forecasts slower growth in oecd oil demand
they were listed for subscription on major stock exchanges from march 2 to march 7
implementation of a one year 0 92 pilot program for wheat and feedgrains was strongly promoted today by the chairman of a key house agriculture subcommittee as a way to cut farm costs and simultaneously give farmers another option when making their planting decisions
the action follows us supreme court justice sandra day oconnors overnight granting of delta and westerns request to stay an earlier injunction against the deal issued by the us court of appeals for the ninth circuit
company forecast for current year is parent shr 3786 yen div 750 yen net 34 billion current 81 billion and sales 1250 billion
a rise in the surplus on commission to 2088 mln marks from 1881 mln was not enough to compensate for this
a sharp drop in short term company credits which reflected the foreign funds inflow was balanced by a moderate rise in long term credits and a sharp rise in credits for securities
us treasury secretary james bakers comment the paris accord did not have fixed dollar targets was seen as a renewed attempt by the us administration to talk the dollar down
von wartenberg said the economy still had good export opportunities
emerald homes ehp sets initial distribution
american express said that assuming conversion of the preferred stock held by nippon 100 mln shares of shearson lehman common stock would be outstanding
it seems reasonable to expect production and consumption to be in far better balance than a year ago amstutz said
major reasons for the decline are expected reduced government support price and good summer crop harvests
economists said that upward pressure on import prices as a result of the dollars drop as well as the volatile energy component warrant attention in case gains in these areas become factored into the wider economic picture
some analysts previously speculated a 20 pct stake in shearson might be sold to the public
but the sources said it would be geared to generate agricultural exports and would need a substantial injection of fresh loans that sudan hoped to receive from gulf arab states
the government says industrys competitiveness is also being hit hard by inflation
nonrecurring income for year 1987 included pretax gain of 4307180 dlrs on sale of companys leasehold of glen oaks store on dec 16 1986
dixons offered 9025 dlrs in its tender
detroit edison dte sells bonds in two tranches
giordano was in sydney to start an asian pacific tour by exchange executives promoting the hedging benefits of the exchange trade currency option market against existing over the counter option trading during the local working day
in the fifth year the coupon rises to 7 1 2 pct but the bond is callable after four years
henry gluck chairman and chief executive officer of the hotel casino and resorts company said in a statement the board believes the recapitalization plan is financially superior to a 28 dlr a share tender offer by martin sosnoff
metropolitan said it may acquire an option on or may buy some or all of the metex shares owned by william hack a metex director who together with this wife holds 149750 of the companys common shares or 114 pct of the total
dome reported earnings yesterday
sudan will find it difficult to meet scheduled debt repayments over the next five years finance minister beshir omer has told parliament he said sudans foreign debt rose to 106 billion dlrs at the end of last year an increase of 300 mln from 1985
1987 qtr includes gain 94 mln dlrs from tax benefit
colombia june coffee registrations opened
borg warner said it advised jacobs that before its board would give minstar access to company records minstar would have to provide satisfactory evidence that sufficient financing was committed to carry out whatever transaction was proposed
a government decree allowed a longer period of time
the draft legislation under consideration by congress would impose permanent quotas on products entering the us and seek to limit any increase to a growth in the overall trade
harper and row publishers inc said it received an acquisition offer from harcourt brace jovanovich inc to acquire all of harper and rows shares at 50 dlrs a share in cash
the international share in turnover was 50 pct in 1986 compared with 52 pct in 1985
moodys investors service inc said the credit quality of corporate bond issuers continued to decline in first quarter of 1987
baker said it believes the merger to be in the best interests of shareholders of both companies
standard and poors corp said it placed the subordinated debt of guarantee savings and loan association the principle unit of guarantee financial corp on creditwatch with positive implications
a new computer code named fort knox was supposed to tie together a number of ibms mid range systems but the product never got off the ground he said
window for bank aid in kuwait remains shut
pentron corp pen unit to buy ice creations
the figure was some five mln below forecasts and lucas shares dropped sharply to 5575p at 1130 gmt from last nights close of 590p
us selling 128 billion dlrs of 3 and 6 mo bills march 23 to pay down 2875 billion dlrs
to help calm heated trade relations with the us japans top business group keidanren has urged the government to remove residual import restrictions on agricultural products
dow did not release the percentage increase
moodys may downgrade resorts international rt 
proceeds will be used to redeem three outstanding debenture issues and repay two outstanding note issues
terms were not disclosed
the offer price values the entire pioneer sugar share capital at 2196 mln dlrs and compares with todays closing market level of 185 dlrs a share
united tote inc tote 1st qtr jan 31 net
analysts noted that bowaters profits of 189 mln stg from 132 mln previously had been given a boost by pension benefits of 45 mln stg
the proposition represents a major step forward
the september growth of 111 pct year on year announced earlier today should not be taken as implying that the money supply has started to expand very rapidly he said
the underwriting fee is five basis points
transamerica income tai monthly dividend
distributed logic corp dlog 1st qtr loss
a number of individual zinc producing companies have approached the european commission to sound out its reaction to a possible industry plan for a voluntary reduction of smelting capacity commission sources said
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
us treasury secretary james baker again said the meeting of six major industrial nations in paris last month did not establish a target exchange rate for the dollar
the commerce department said that all canadian firms had begun to pay an agreed to 15 pct surcharge on softwood shipped to us markets
dixons launched the agreed 384 mln dlr offer on february 17 this year in the wake of its unsuccessful battle to take over the uk retail store chain woolworth holdings plc wlukl dixons shares were last quoted at 390p up on last nights close of 380p
bank of british columbia sold most of its assets last november to hongkong bank canada a unit of hongkong and shanghai banking corp of hong kong for 635 mln dlrs
the bank of japan is rather confident currency stability will continue for some time the senior bank official said but declined to be more specific
palomino said aeroperu the government flagship airline with a 10 jet fleet would issue stock for purchase by private investors
they added that such a decline from 1985 86 would be no surprise noting bhp has said that it would be difficult to equal its record 1985 86 net profit
west european nations have so far shown little enthusiasm for backing a us plan to give military protection to merchant ships in the gulf which could help insure the safety of oil supplies
sandox buys stauffer seeds
frenzel said the goal of trade legislation was to make our trade policy stronger without violating our international trade agreements
the debentures had an 8 5 8 pct coupon and were priced at 98675 to yield 8 3 4 pct or 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
it said the government and private exporters shipped 26272 and 46715 tonnes respectively
canada britain france japan the us and west germany agreed to cooperate in stabilising exchange rates around current levels
allegis has said that it plans to sell westin buyt has not announced that a deal has been set
news international issues 100 mln dlrs in bonds
micropolis 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
french 1987 growth will probably be about two pct the same as last year due to an international environment that is less favourable than expected finance minister edouard balladur was quoted as saying
non callable for two years the issue is rated b plus by standard and poors corp
the acquisition of the additional 48 pct which a federal judge allowed to be completed gave campeau a majority stake in allied
in addition the company said georgia powers contracts with the joint owners require the utility to buy back significant amounts of vogtle capacity during the plants initial years of operation
but sumita said he could not say exactly what currency levels would be considered in line with underlying economic fundamentals
cumulative sales authorisations for the current season 1986 87 now stand at 2194970 tonnes 43 weeks last week saw 102350 tonnes whites authorised for export under licences to end sep at the higest ever rebate of 46864 european currency units ecus per 100 kilos
southern co to take 226 mln dlr charge on projected vogtle cost rise
officials said afterwards the three men had reaffirmed their commitment to the louvre accord on currency stability
but others see it climbing to 40
us grain carloadings fall in week
that would not represent a tightening of policy however
economic spotlight japan pushes its chipmakers
shr loss 11 cts vs profit 12 cts net loss 286817 vs profit 292014 revs 9972379 vs 9413304 year shr profit 63 cts vs profit 57 cts net profit 1547893 vs profit 1481703 revs 439 mln vs 410 mln avg shrs 2474820 vs 2617768
o licht
at the end of two months he added i can say we are off to a good start for 1987
labatts earnings rose to 928 mln dlrs in the nine months ended january 31 from year earlier 78 mln dlrs
earlier this week chemlawn agreed to accept a merger proposal at 3650 dlrs a share from ecolab inc in a transaction valued at about 370 mln dlrs
seventeen of the 32 fortune 500 companies in the area left due to corporate restructuring between 1979 and 1986 but another 21 firms were added to the list
uk intervention bd says ec sold 60500 tonnes white sugar at rebate 44819 ecus
the bundesbank declined to comment on the dealers remarks
taiwan foreign exchange reserves hit new high
business loans on the books of major us banks excluding acceptances rose 377 mln dlrs to 279085 billion dlrs in the week ended march 4 the federal reserve board said
the bureau said upland cotton ginnings from the final 1986 crop totaled 9237296 bales vs 12837088 bales in 1985 and 12418749 bales in 1984
api says distillate stocks off 407 mln bbls gasoline off 269 mln crude up 853 mln
the international cocoa organization icco council adjourned after agreeing buffer stock rules for the 1986 international cocoa agreement an icco spokesman said
shr 35 cts vs 25 cts net 1590000 vs 1140000 revs 322 mln vs 230 mln year shr 116 dlrs vs 68 cts net 5300000 vs 3100000 revs 1100 mln vs 854 mln
federal paper board fbp upgraded by moodys
the government for its own reasons has been delaying approval of the project but we expect it to come through by july yulo said
the kwacha fell from 220 to the dollar to about 15 in 16 months
the wall street journal which selects the index said inco was dropped to make the index more representative of the market
the stake was between three and five pct but no further details of the deal which was announced simultaneously in paris london and hong kong were immediately available
eli lilly and co plans to sell its elizabeth arden subsidiary
another 400 billion yen will yield 37991 pct in a 20 day repurchase pact maturing on april 28 they said
solomon forecast inflation at 45 pct by year end but said it could be kept below five pct in the medium term if oil prices are stable and commodity values remain low
hi port industries inc hipt 4th qtr net
sterling surged on foreign exchange markets and money market interest rates moved sharply lower as news of the budget measures came through the analysts said
several businessmen called for a return to the imf arguing this would give the country access to new funds and allow the economy to grow
figures for february out on monday are expected to show a further increase of between 300 and 400 mln stg pushing the total for 11 months above target government officials said
nestle seeking authorisation for certificate issue
wisconsin public service wps raises budget
siemens rebutts us criticism on cgct offer
metropolitan which said it spent 31 mln dlrs to acquire its metex stake listed its recent stock purchases as 54993 common shares on march 67 at 10 dlrs each and 83916 shares on march 11 at 1125 dlrs
fpl group fpl nuclear reactor shut down
thermo process systems inc said its proposed acquisition of the surface combustion division of privately held midland ross corp has been terminated because mutually satisfactory terms could not be established
dixons which is offering 9025 dlrs a share for cyclops said last week it had about 54 pct of cyclops common shares
development corp of america said its merger with lennar corp len was completed and its stock no longer existed
to the surprise of most participants the issue was sold out within hours of becoming available for trading and the market pushed on to register further sharp gains
rep
it noted that in january the year on year rise was 250000 or 10 pct and the number in work stood at 2578 mln
wedge group inc a houston investment firm with a 55 pct stake in american medical international inc said it has had talks with pesch and co which is seeking control of the company
roses stores inc rsto reports higher sales
nvhomes lp said april 30 will be the distribution date for new units as a result of its previously announced two for one split to unitholders of record april 20
shr loss 22 cts vs loss 20 cts net loss 2127334 vs loss 1629432 revs 1306658 vs 1091023 avg shrs 97 mln vs 8 mln year shr loss 36 cts vs loss 35 cts net loss 3519251 vs loss 2805569 revs 5081953 vs 4410954 avg shrs 98 mln vs 81 mln
the finance ministry is encouraging more use of agencies by gradually abolishing limits on corporate debt creation
he expects other japanese companies to do likewise
specific details of the pst production project including sites for proposed facilities and engineering plans were not disclosed
paul minn
american express said it was subpoenaed for documents pertaining to securities transactions of american express and firemans fund
the world bank in the throes of a painful reorganization faces new strains because of actions by citibank and others to set aside new latin debt reserves financial analysts and monetary sources said
disclosed risk provisions which under west german accounting rules do not necessarily reflect the full amount rose to 7363 mln marks from 2240 mln
china says possible good harvest despite drought
the initial demand for the recently introduced compaq portable iii and the new models of the compaq deskpro 286 exceeds that of any other compaq personal computers canion said
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
as an example they quoted wheat export volume which rose about 30 pct in february after dropping as much in january
in a statement issued late last night the central bank said the measure would take effect from march 13
the tax free distribution will become effective may 1 1987 and will expire 10 years later the company said
the export duty and gazetted price of palm kernel were left unchanged at 19115 and 95575 ringgit per tonne respectively
he proposed that any attempt to impose new duties to offset subsidies should go first a special disputes commission for resolution at an early stage
west germanys money supply growth slowed in february after januarys sharp rise but the trend is still definitely upward the bundesbank said in a statement
capitol bancorp capbo 3rd qtr net
both are 70 pct owned by canadas alcan aluminium ltd al which will take the share swap option alcan australia deputy chairman jeremy davis said in a statement
hadson corp said it has signed a definitive agreement to acquire 85 pct of the outstanding common stock of seaxe energy corp
a shift of savings into long term assets would dampen monetary expansion and foster a stable rise of the money supply he said
aircraft attack iranian oil rigs in southern gulf
because of the seamen strike exports are being delayed and the country is losing badly needed foreign exchange
shr five cts vs one ct net 196986 vs 37966 revs 155 mln vs 8900000 nine mths shr 52 cts vs 22 cts net two mln vs 874000 revs 537 mln vs 286 mln
some of them are too sophisticated to convert into financial terms one banking source said
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
partly offsetting these outflows bankers balances above target and exchequer transactions will add some 200 mln stg and 35 mln stg to the system respectively
jaguar builds half of its cars and buys components for the other half
chang chi cheng said the central bank could not stop buying us dollars because of heavy sales by local exporters who fear the strong local dollar will cause them exchange losses
the second for export development corp at 4 1 2 pct and 101 7 8 pct led by bank of tokyo international
it said the measures were the latest steps to deregulate spains financial sector a move triggered by entry into the community last year
this followed trader talk on the london metal exchange lme after broker bids were made at increased premiums for capper pass brand material
if the loan is approved over us objections the united states would not increase or replenish funds for that institution until it agrees to stop making such loans
bankers said the aim would be to keep the loan syndicates intact or conversely to allow small banks to write off their exposure in a way that is not detrimental to major lenders
shr 53 cts vs 48 cts net 873000 vs 773000 sales 195 mln vs 200 mln
qtly div 25 cts vs 25 cts prior qtr pay 31 may record 1 may
but opec would get through this period if members stuck together
the rate for raws is based on 92 pct yield
international banks have radically changed their attitudes towards debt and lending and debtor nations will have to explore new methods of ensuring inflows philippine central bank governor jose fernandez said
these are the heaviest contract talks in the history of the st lawrence seaway george miller vice president of the canadian lake carriers association an association of major canadian shipping companies said recently
he expects us stocks to improve further because there is more corporate earnings potential nominal interest rates already are low and there is strong foreign demand for stock
bell resources ltd said it has executed an underwriting agreement with equiticorp tasman ltd to acquire 576 mln ordinary shares in the broken hill pty co ltd brkns for 540 mln dlrs
the rating agency cited a 22 billion dlr tender offer for gencorp by general acquisitions inc a unit of a partnership affiliate of afg and wagner and brown
weekly figures published by the bank of france showed its gross foreign assets rose by about two billion francs last week when it was reported by banks to have intervened on the foreign exchange markets to support the dollar against the yen
use of physical gold should rise this year due to increased industrial demand and higher expected coin production the bank said
it said the move is effective immediately
in volume terms gold holdings rose to 551 mln ounces in march from 526 mln ounces in february valued at 75724 rand an ounce for march versus 75459 rand an ounce for february
seacoast banking corp of florida sbcfo 3rd
bumpei otsuki president of the influential japan federation of employers associations nikkeiren told reporters the yen might rise as far as 140 to the dollar the us economy is not good and as long as the us economy is not good the us will put various pressures on japan the yens level depends on the condition of the us economy rather than japans economy and as long as the american situation is bad the yen will continue to rise he said
darman who has worked alongside baker for six years was widely credited with helping him mastermind initiatives on currency management and international economic cooperation
the utility had sought 1441 mln dlrs in rate hikes in texas
wyatt jr unlawfully interfered with agreements it previously reached with its creditors causing the company significant damage
coffee prices bad news for latin america minister
bass group cuts national distillers dr stake
an act of parliament passed last week granted the singapore authorities permission to raise 35 billion dlrs in the new market over the next four years
commonwealth edison co filed with the securities and exchange commission for the sale of 375 mln dlrs in first mortgage bonds
shr 73 cts vs 58 cts net 1101000 vs 901000 sales 329 mln vs 291 mln note results include operations of bmd of new england inc acquired sept
dixons paid an average price of 695p per share which compares with 819p today
this is a change of nuance
taiwan buys 462000 tonnes of us maize
the federal reserve is expected to intervene in the government securities market to add temporary reserves indirectly via 15 20 billion dlrs of customer repurchase agreements economists said
unlike coffee which is controlled through export registrations cocoa exporters in brazil operate at their own free will a trade source said
speaking to reporters following a senate agriculture appropriations hearing amstutz suggested that one way out of the current soybean program dilemma would be for congress to allow the loan rate to remain at 456 dlrs
using acquisition value usda officials said the value is higher
the electricity company which supplies about 90 pct of south africas power said in its annual report that it failed to attract any foreign loans in 1986 but it was confident of meeting its funding requirements this year despite available finance from abroad remaining restricted
metropolitan federal mftno 1st qtr net
morgan said it assumes talks between brazil and commercial bank lenders will proceed expeditiously and interest payments will resume at the earliest practicable date
clevite clev amends rights plan
the issues are 111 billion dlrs maturing march 26 1990 1065 billion dlrs maturing march 25 1992 and 375 mln dlrs maturing march 25 1997
the placing of 825 mln shares last year raised 1607 mln stg and enabled shareholders funds to more than double to 352 mln at year end
the five year bond pays 14 1 4 pct and was priced at 101 7 8 pct
venezuelas cabinet approved a new exchange rate for oil and mining export earnings setting it at 1450 bolivars to the dollar from 750 bolivars previously minister manuel azpur ua said
the current debt burden will be manageable if concessionary loans can be attracted he said
each has rated some 20000 to 30000 us and about 100 japanese issues
west co inc wst sets regulary payout phoenixville pa march 20 qtrly div 13 cts vs 13 cts prior pay may 5 record april 21
argentina is expected to qualify for imf balance of payments financing which would enable argentina to repay a multilateral bridge loan and support the implementation of its economic program the statement said
fisher shareholder indecisive over stock buy
the company said the mine would produce at an approximate rate of 158000 ounces of gold per year over the first four full years of operation from 1989 through 1992 and at an average of 133000 ounces a year over the full projected 11 year life of the mine
the deal is callable immediately at 106 for the first three years declining by one pct per year each year thereafter
the april 6 sale to be evenly divided between the three and six month issues will result in a paydown of 165 billion dlrs as maturing bills total 1485 billion dlrs
sharon said that as of march six 316 pct of the 135 pct notes and 209 pct of the 1425 pct notes were tendered
harbour workers said they will strike for 24 hours on monday effectively closing all new zealands ports
chase manhattan now will be able to underwrite commercial paper buying it for resale to institutions like banks
compared with february 1986 m3 rose 7 1 2 pct
the philippine senate approved a proposal to repay loans owed by a private company to speed up the signing of a 132 billion dlr rescheduling agreement with foreign banks
california microwave cmic takes 3rd qtr charge
the split will be effected in the form of a 50 pct stock dividend on both classes
young explained that the company had planned to protect itself against the chance of rising interest rates by buying a complicated hedging instrument
i as a shareholder wish to solicit initiate or encourage such an offer or indication of interest and believe therefore that i should resign as a director of the corporation gardner said in the letter
ico quota talks failure paralyse hamburg market
initially only january march and may delivery months will be listed for trading
lindner was unavailable for comment
american brands inc said it filed with the securities and exchange commission its financial statements for fiscal 1986 in connection with its previously announced offering outside the us of its 50 mln stg 9 1 2 pct notes due 1994
the philippine government has quietly agreed to make token payments of principal in each of the next three years as part of its 103 billion dlr commercial bank debt rescheduling package finalized last friday bankers said
cetec corp cec 4th qtr net
the maximum daily price limit will be two cts a gallon on all contracts except spot
conseco cnc to buy beneficial bnl unit
ccx network ccxn to make acquisition
the offer is not conditioned on receipt of any minimum number of shares but is conditioned on the arrangement of financing
the other dealer is swiss bank corp international ltd and morgan guaranty trust co of new york is issuing and paying agent
dresser industries di sees return to profit
interest will cease to accrue on may one the unit said
chryslers c credit canada placed on creditwatch
merrill lynchs statement at midday today said the firm will continue to cooperatie fully with authoriteis in the us and london investigating vaskevitchs activities
a japanese trading house recently bought about 31000 tonnes of soybeans for april 10 may 10 shipment they said
senior central bank officials suggested to reporters last week that the foreign exchange ceiling will be lowered to discourage banks use of excess funds for currency speculation
the recent successful find at iagifu is likely to put png on the list of major oil exporters by the early 1990s he told the australian petroleum exploration association annual conference
immediately before the historic 1985 new york agreement or plaza accord the dollar had been trading at 284 marks and 240 yen
coleco industries clc sees profit in 1987
baker pointed out the banks have rescheduld nearly 70 billion dlrs of debt reaching agreements recently with chile venezuela and mexico
production meanwhile was unchanged from the previous year at 9109 mln cubic feet
m 3 rose to a revised 8238 billion rand in april from a preliminary 8217 billion and marchs revised 8139 billion
soviet trade deficit with west soars in 1986
electronic tele communications 3rd qtr loss
the loans were cancelled because the projects slated for aid were not implemented properly they said
the rise took the year on year inflation rate to 34 pct in may from 35 pct in april and brought cumulative inflation over the first five months of this year to 20 pct compared with 07 pct for the same period of 1986
prudential to form real estate brokerage unit
marcus corp said its board voted a 50 pct stock dividend to be distributed may 1 record april 15
committee sources said de zeeuw expressed concern over protectionism and high farm price supports
the new daily limits apply to all but the two nearby positions currently may and july which trade without limits
the company also said it raised the dividend on its common stock by two cts to 33 cts a share on a pre split basis
bank of ireland said it has mandated barclays de zoete wedd ltd bzw to arrange a 300 mln stg committed certificate of deposit issuance facility
market sources said attention would now switch to monitoring the fortunes of the ruling conservative party in opinion polls ahead of a widely anticipated general election
great american said its revised net loss for the fourth quarter is 141 mln dlrs or 636 dlrs per share compared to a net loss of 24 mln dlrs or 106 dlrs per share the year earlier
iceland has good catches and sellers quoted a price of 545 dlrs per percentage point protein cif north european ports
stansbury mining corp said it has arranged the financing it needs to bring its vermiculite mine into operation later this year
gulf 310 316 corn brly oats rye soyb sorg chicago 147 481 249 ill
terms were not disclosed
under the rescheduling mexico is restructuring 437 billion dlrs of previously rescheduled debt over 20 years with seven years grace
the exchange would be based on conversion of home federal shares of not less than 1935 or more than 1200 shares of barnett stocks
the world price of sugar would have to rise much higher than it has done recently to make planned production of c sugar really worthwhile the spokesman said
the commerce department reported last week that the nations trade gap calculated on a balance of payments basis swelled to a record 3837 billion dlrs in the fourth quarter bringing the 1986 deficit to a record 14771 billion dlrs
the spokesman said he believed japan should accept applications from the two rivals for fair review
singapore monetary exchange faces non asian rivals
the maturities range from 28 to 364 days and denominations will be 500000 and one mln dlrs
1986 net both periods includes 500000 dlr pretax inventory writedown
a previously adjourned meeting of hughes tool stockholders will be resumed this afternoon it said
on the positive side morgan reduced its provision for loan losses to 35 mln dlrs from 70 mln a year earlier
a group of investment firms led by far hills nj investor natalie koether said it is seeking information about the shareholders of prime medical services inc over which it has said it is seeking control
bethlehem steel corp said prices for steel sheet products will be increased up to 30 dlrs a ton effective january 3
galactic said the accounting change resulted in a 228 mln us dlr charge against 1986 earnings
canada 91 day t bills average 680 pct making bank rate 705 pct
president nobuo ito of international telecom japan inc itj 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
an imf world bank team will visit colombo next month to start negotiations on details of a three year economic reform programme
bankers trust issuing stg dlr currency warrants
philippines trade and industry secretary jose concepcion told world trade ministers he wondered if their agreement was of any real value after the european community ec imposed a levy on vegetable oils
the company earlier said dividend will be unchanged at three marks for ordinary shares and 350 marks for preference shares
wall street sources have said the outcome of the case could be pivotal in determining the winner in the fierce takeover battle for burlington the largest us textile maker
the belgian national bank bought foreign currencies against francs on the open market in the week ended march 9 a bank spokesman said
federal reserve board vice chairman manuel johnson said the louvre accord is still healthy but said the united states and west germany must work out differences over their respective roles in fulfilling the accord
the paper blamed the waste on inadequate storage and bad preservation methods
domtar sets two for one stock split to take effect may 14
many of the major us banks including citibank have already said they might have to put their brazil loans on a cash basis and take the financial losses which could total billions of dollars
westcoast transmission co ltd said it agreed to acquire the western canada oil and gas reserves and properties of agip canada ltd a subsidiary of agip spa part of italys eni group for 54 mln canadian dlrs
further us demand could be sluggish because winter the period of greatest consumption is ending
in the united states union texas said it completed evaluation work on its oil find in alaskas colville delta area
traders said this pushed lead prices higher in early morning trading as the market is currently sensitive to any fundamental news due to its finely balanced supply demand position and low stocks
holland said sprints rates which were 50 pct lower than att when it did not pay to gain access to local telephone exchanges were now about 10 to 12 pct lower now that all the companies have equal access
profits were swollen by earnings from the placement of the former flick group which have been estimated at some one billion marks and from record profits in trading on the banks own account not included in partial operating profits
he said they had decided in a meeting that if the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation by themselves
chevron corp chv jumped 1 1 8 to 58 7 8 and texaco tx climbed 1 4 to 37 3 4
among sumitomos problems are limits placed on its move to enter us securities business by taking a share in american investment bank goldman sachs and co
china bought two distress cargoes last week for about 152 153 dlrs a tonne he added
proved reserves of liquids remained about the same at 251 mln barrels the company said in the 1986 annual just released by transco energy co e the majority owner of the transco exploration partnership
tin council winding up verdict appealed
sibson noted that the recommendation adopted by the board only applies to fixed rate dollar issues and would not have helped the floating rate sector out of its current crisis
alcan reduces cost of planned smelter
according to the departments export sales report covering transactions in the week ended february 26 china has outstanding wheat commitments for the 1986 87 season of 30000 tonnes and 420000 tonnes for delivery in the 1987 88 season
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
timminco acquires universal adhesives
national beverage which is also privately held owns and bottles shasta beverages spree all natural beverages and private label brands in its 11 bottling facilities in the united states
sumita says he does not repeat not expect dollar to fall further
yesterday chrysler presented four investment bankers with a list of bonds and asked them to submit bids by this morning
they are sceptical about the chances for any fundamental change
gtc transcontinental group ltd 1st qtr net
he said it would it would open us markets to canadian goods and enable them to benefit from the economies of mass production
it said its suit names as defendants hughes and certain of its directors and seeks either an injunction forcing hughes to live up to the merger agreement or substantial monetary damages it did not name
the miners statement said police had violently evicted comibol office workers in the city of oruro after they began a hunger strike yesterday
an internationally comprehensive market system is needed to lure more overseas investors into the japanese market jbris yoshida said
japans chip makers angered by us sanction plans
coffee prices normally rise during brazils frost season mainly june august as dealers and roasters build up stocks as insurance against possible severe frost damage to brazils crop
lowes cos inc low qtly div
the suit charged that softklones mirror software product violated the copyright of microstufs crosstalk program digital said
crown said the wyona field is fully developed with 28 producing wells
ssangyong construction raises 48 mln us dollars
gordon jewelry gor completes sale of unit
portugals consumer prices rose one pct last month after a 12 pct increase in january and a 13 pct rise in february 1986 the national statistics institute said
prices for 03 pct and 05 pct sulphur fuels were unchanged at 2250 and 2185 dlrs respectively the company said
its way too early for that
asked about the impact on the flow of generic certificates onto the market this spring he said the trade was definitely looking higher so certificates are going to be less than expected the usda offered a special corn bonus rental payment to the farmers to be paid in generic certificates
mindscape buys harcourt brace hbj unit
renault is a leader in our industry and i am happy to be working with them iacocca was quoted as saying
the pound was seen staying between 290 and 293 marks for the next days dealers said
the trade balance registered a 35 mln dlr surplus compared with a 56 mln dlr surplus in january 1986
hartmarx hmx targets earnings growth
indonesia imported 162000 tonnes of sugar towards the end of last year and in early 1987 to boost low stocks
however retaliation is an unlikely step at least initially that official said
the paper said the price for long grained rice from 10 southern provinces and cities was raised by 15 yuan per 50 kg
if analysts unofficial estimates prove correct then the drop in us corn acreage will be the largest since 1983 when farmers idled 22 mln acres in the payment in kind program
home savings bank hmsb 1st qtr net
rather we must be able to negotiate credibly for global liberalization yeutter said
community bank system inc cbsi 1st qtr net
memotec data completes teleglobe acquisition
he told an informal meeting of the general agreement on tariffs and trade the widening gap between industrialized and developing countries and an unfair international economic system were major obstacles to growth in developing countries
the price and other terms of the tender offer have not yet been determined the company said
bank of america has about four billion dlrs of credit card receivables making it one of the biggest in the us analysts said
automatix inc aitx 4th qtr loss
firstcorp inc fcr raises qtly dividends
mexico colombia argentina and others rejected such action and mexican finance minister gustavo petricioli merely said brazil is having problems we are sure will be temporary but brazils action has had an impact on other debt negotiations speeding agreement for chile and venezuela last month and influencing current talks with argentina
study says pork leaner than usda figures show
the spokesman also confirmed that gaf did raise its bid to 48 dlrs cash from 46 dlrs per share on friday
the ministrys stance has outraged both london which has threatened to retaliate and washington which says the merger plan is evidence of japans failure to honour pledges to open its telecommunications market
financial benefit group inc fbgia year loss
portugals gross domestic product gdp will grow around four pct this year the same rate as in 1986 according to a bank of portugal forecast
they were very frustrated with their inability to get chesebrough
mergers public offers seen among car dealers
csr last year wrote off more than 550 mln dlrs in losses on what had been a 591 mln us dlr investment financed entirely from us dollar debt they said
traders said signs of cubas shortage of immediately available raw sugar to supply its traditional martkets was probably the factor behind syria calling a snap buying tender last month
shr profit nil vs profit five cts net profit 9879 vs profit 118852 revs 1581894 vs 1878052 avg shrs 2627952 vs 2617090 nine mths shr loss two cts vs profit 24 cts net loss 51001 vs profit 619860 revs 4006024 vs 6646587 avg shrs 2532959 vs 2621397 note nine mth orders 4601463 dlrs up 39 pct and backlog at end of period 4906670 dlrs up 83 pct from a year before
further raiders should be required to make an all cash tender offer once they acquire 10 pct of a target companys stock he said
in 1986 morris earned 620 dlrs a share
three other bank officials are still being held in custody
brunswick corp bc sells notes at 8199 pct
bayer said its operating companies include mobay corp miles laboratories inc agfa gevaert inc compugraphic corp haarmann and reimer corp deerfield urethane inc and helena chemical co
remsperger said continued strong money supply growth also precluded a further cut in official interest rates
the philippine negotiating team refined the pins idea three times before the final agreement was struck last friday ongpin said
results restated for discontinued operations
he said the takeover move could be seen as bnls reply to deutsche bank ag dbkgf which entered the italian market in december 1986 with the purchase of bankamerica bacn subsidiary banca damerica e ditalia nesi said bnl had also approved a 200 mln dlr credit line to the soviet union aimed at enabling soviet companies to pay for italian imports
jacoby was not immediately available for comment on the report
fundamental brokers buys part of mki brokers
the keidanren meeting coincided with a written request for drastic reflationary measures sent to the government by the japan chamber of commerce and industry
standard and poors corp said it affirmed the ratings on seven billion dlrs of debt and preferred stock of american telephone and telegraph co
a second prospectus relates to a planned public sale of four mln common shares which cdc sold privately to an unidentified investor in december
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
the japanese authorities want only one competitor and have proposed that the two consortia band together
meanwhile the company said it raised its quarterly dividend to 28 cts a share from 25 cts a share in part on the expectation that its tax rate under the new tax law will result in greater cash flow
mobile america corp mame year end dec 31
us oil demand as measured by products supplied rose 23 pct in the four weeks ended march 13 to 1649 mln barrels per day bpd from 1611 mln in the same period a year ago the energy information administration eia said
argentinas great efforts to comply with obligations on its 50 billion dlr foreign debt should be met by a reduction in interest rates on the part of the creditor banks he said
piedmonts board was meeting today but the company declined to say what was on the agenda
bond corp completes consolidated press purchase
the two sides held inconclusive talks in miami on march 22 bankers said
but preston who did not attend the meeting between funaro and creditor banks yesterday added the onus is still on brazil to put its economic house in order first
cardenas said these countries apparently fail to understand the true impact of such a failure for coffee producing nations as well as for industrialized countries
shell francaise sfmfpa a subsidiary of shell petroleum nv returned to the black last year for the first time since 1982 with parent company net profit of 43 mln francs against losses of 968 mln in 1985 and 107 billion in 1984
the preferred share has a par value of 25 dlrs and is retractable at the holders option on may 1 1994
the two year notes will be issued in minimum denominations of 5000 dlrs and the four and seven year notes will be in minimum denominations of 1000 dlrs
so long as there is an external imbalance there will be trade friction and harsh words between the two governments the foreign ministry official told reporters
key members of the house agriculture committee have agreed to scale back the 0 92 provision of a pending disaster aid bill to cover only 1987 crop wheat but a broader 0 92 proposal is likely to be resurrected later congressional sources said
network security corp ntwk year net
talyzin said national income the nearest soviet equivalent to gross national product should rise by 43 pct against a planned 41 pct this year
eia says distillate stocks unchanged gasoline off 200000 crude up 63 mln
the ministers agreed that under this extensification scheme farmers would qualify for compensation if they cut output of specific products by at least 20 pct
us m 1 money supply rises 500 mln dlrs in march 9 week fed says
the company said it will continue to own and operate the reading terminal market in philadelphia
japan could avoid a sharp rise in the value of the yen against the dollar if japan the us and other nations succeeded in restructuring their economies an advisory panel to the governments economic planning agency epa said
spokesman for armco inc as and bethlehem steel corp bs said the proposed price hike was under study
the elimination of price limits on precious metals contracts trading at the commodity exchange in new york appears to be having little effect on the market analysts said
alternatives to the sale being considered include a master limited partnership and an initial public offering of the equity in the land development companies it said
us soviet grain meeting unlikely this summer
in the year ago quarter it earned 11000 dlrs or one cent a share
they said japan submitted a report earlier this month alleging south koreas plan to import less from japan and more from the us and elsewhere was tantamount to creating non tariff trade barriers
reaffirming remarks made last year by chairman howard macdonald annesley said the company is considering selling its stake in dome mines
southwestern bell said 1987 capital expenditures will be lower that the 197 billion dlrs spent in 1986 a year in which expenditures were held below budget
tcw said it anticipates paying a regular quarterly dividend
kloeckners nominal 100 mark profit participation certificates issued in october 1986 will pay a likely yield of around 10 pct
the company recorded these liabilities based on older higher tax rates but an action being considered by the financial accounting standards board could result in a gain of about 120 dlrs a share in 1987 it explained
the june trade figures due in late july will also be delayed he added
the company is also offering 20 dlrs for each 219 dlr cumulative preferred share and 8750 dlrs for each share of 1125 dlr convertible preferred stock
the selling concession is one pct while management and underwriting combined pays 1 2 pct
general refractories mineral operations are not affected
monfort of colorado inc 2nd qtr shr 103 dlrs vs 134 dlrs
but there was a clearly justified need for them
shr 23 cts vs 42 cts net 1387000 vs 2532000 revs 805 mln vs 826 mln
telemedia said the acquisition is expected to have a small positive impact on short term earnings
asked by reporters after a speech before the national fitness foundation banquet what if any currency intervention levels had been set in paris baker replied we never talk about intervention baker also declined to comment on his views about the foreign exchange markets reaction to the accord
western donors were asked to contribute 46 billion dlrs with the rest being raised from local resources but adedeji said the donors had not responded as hoped
he said major countries should be showing leadership on this problem
the hearing date has now been put back slightly to june 8
richard ferris chairman of allegis said in a statement the hotel limited partnerships allow the company to convert unrecognized asset appreciation into cash
elsewhere alza corp issued a 75 mln dlr convertible bond due 2002 through merrill lynch capital markets
locally heavy showers dotted indonesia and malaysia as rainfall generally decreased eastward through the islands
also traders point out the number of us firms operating in london has increased sharply over the past year as has the number of european and asian banks which trade us government securities
argentine vegetable oils shipments during january november 1986 totalled 1693951 tonnes against 1469208 tonnes in the same 1985 period the argentine grain board said
the png governments geological survey in a paper distributed at the conference estimates iagifu reserves at about 500 mln barrels
consequently campeau is not subject to the procedings
adjusted bank borrowings from the feds discount window averaged only 228 mln dlrs a day in the first week of the bank statement period ending next wednesday compared with 233 mln and 451 mln in the first weeks of the previous two periods
uk money market offered early assistance
the maximum rebate of 46864 ecus per 100 kilos on wednesday was the largest ever granted according to traders
prior to tomorrows market opening the wall street journal will publish a new divisor to be used in calculating the index
the group a partnership of afg industries inc afg and wagner and brown was to go to court on march 27 to block gencorp for having the three proposals voted on by shareholders at its annual meeting
lichtblau called for the adoption of an international floor price for crude oil to help stabilize world oil prices
ekn bank of nidwalden is launching a 25 mln swiss franc 2 1 2 pct 10 year bond with warrants at par lead manager bank leu ag said
the ministers proposals back up our determination to organise union action in the coming weeks he told reporters adding that this could also act in guillaumes favour on a ministerial level
the fed is focusing its policy attention mainly on the need to defend the dollar jones said
kjeldsen said taxes on the products concerned would help the ecs budget problems and would provide some price stability for producers
the utility said it plans to issue a 35 mln dlr 76 pct first mortgage bond series nn due 2012 to the city of princeton ind
in may 1985 allegheny sold its pepsi cola bottling co unit to pepsico inc pep for 160 mln dlrs
senate agriculture committee chairman patrick leahy d vt is leading a group of farm state senators in an effort to broaden the criteria in such a way as to enable moscow to be eligible for the subsidies sources said
chivuno told a press conference at the end of three weeks of negotiations with the international monetary fund imf that there would be a fixed exchange rate for official transactions and a fluctuating rate decided by the auction for other types of business
other income 7239 mln from sale of investments 10304 mln 1985 interest 2575 mln 2149 mln and dividends 164 mln nil co is 937 pct owned by bell resources ltd note all figures in us dollars as the company is registered in bermuda
proceeds will be used to repay short term debt incurred primarily for working capital integrated resources said
taiwans savings at record high
it said its dealings in triad common stock were done on behalf of its advisory client
s african trade surplus rises sharply in february
diversification of foreign portfolios is underway and we have bought bonds in currencies such as marks the canadian dollar the ecu and french franc a fund manager at yasuda trust and banking co ltd said
us export bonus poultry feed for north yemen
this could further boost demand for eurosterling bonds as long as yield margins remain attractive in relation to gilts often the case with newer if not with more seasoned issues
borrowing in the december quarter rose to 392 billion from 179 in the september quarter and 611 mln a year earlier
fed watchers see us economic inflation upturn
fairchild industries inc fen 4th qtr loss
shr 55 cts vs 41 cts net 494000 vs 204000 avg shrs 896655 vs 494155
shr loss six cts vs profit 19 cts net loss 166000 vs profit 580000 revs 3772000 vs 5545000 year shr loss 13 cts vs profit 52 cts net loss 391000 vs profit 1425000 revs 154 mln vs 166 mln note 1985 year figures pro forma for purchase accounting adjustments resulting from march 1985 reeacquisition of company by its original shareholders before august 1985 initial public offering
provisions for startup expenses have been made it added
british and european based trade houses sold the remaining six cargoes for shipment between april may july they said
citizens fidelity cfdy paper upgraded by s p
hicks haas group has spectradyne spdyo funds
finnish wholesale prices rise 02 pct in february
a 1984 feasibility study put the grade at 0008 ounces per cubic yard while subsequent exploration work proved that areas of higher grade gravel of up to 0027 ounces yard do exist sphinx said
the company also said its board named thomas burke president and chief executive officer
the high regulatory environment has delayed life insurance firms diversification
qtly div 12 cts vs 12 cts pay july 1 record june 12
the farmers traded stones for tear gas and rubber pellets and occupied local government buildings while in the southern city of malaga citrus growers dumped more 20 tonnes of lemons on the streets in protest at ec duties
terms were withheld
ropak ropk forms japanese unit
showers improved irrigation supplies in southern india reversing februarys below normal trend
he questioned what would be a better investment than a very profitable securities firm several analysts said american express is not in need of cash which might be the only reason to sell a part of a strong asset
rice 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 240 240 251 251 harvested 238 238 249 249 yield lbs 5648 5648 5414 5414 supply mln cwts start stcks 773 773 647 647 production 1344 1344 1349 1349 imports 22 22 22 22 total 2139 2139 2018 2018 rice cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage mln cwts domestic 670 670 658 658 exports 800 800 587 587 total y 1470 1470 1245 1245 end stocks 669 669 773 773 ccc stocks 429 429 415 415 free stocks 240 240 358 358 avgprice 345 425 345 425 653 653 note average price in dlrs per cwt
guardian trustco inc earlier reporting a 198 pct increase in full year earnings per share said the outlook for 1987 is more modest
takefman said he expects sales to rise to about 100 mln dlrs this year from 573 mln dlrs in 1986
channon also called for greater ec us cooperation to force japan to open its markets to foreign goods
sierra pacific resources inc srp dividend
however banks are likely to hold rate increases until they see what the fed intends to do about interest rates in the near term analysts said
the company said it will continue to pursue actively the proposed note issue and will seek alternative financing in place of the note issue
the plant will go into operation in 1990 kellogg said
last year the company reported earnings of 977000 dlrs
time inc said the acquisition of scott foresman and co last year will dilute earnings per share by about 17 cts a share for the full year in 1987
they said they were now drilling another hole 460 feet to the west of the first drill hole and expected to report results in late march or early april
he made clear however that adjustment lending would continue to increase as a proportion of overall bank lending for some time
oil sources said spot prices are unlikely to surge strongly in the next few months due to cheating by some opec members and the likelihood that saudi arabia will act as swing producer to maintain steady prices
cambridge analytical caan sees first qtr loss
crude futures are called unchanged to five cts weaker tracking unchanged domestic crudes and north sea brent crude which traded at 1801 dlrs a barrel today about ten cts below yesterdays new york close
del webb wbb unit sells joint venture stake
in october 1985 the court barred kodak from selling cameras or film that infringe upon the patent the polaroid spokesman said
the failure of international coffee organization talks on the reintroduction of quotas has paralysed business on the hamburg green coffee market in the past week trade sources said
mcv called its previous offer made february 26 the final proposed revision of its agreement with viacom
redkin laboratories inc rdkn qtly dividend
we have received good interest for the rubber
a year after squeezing to power with a narrow bare coalition majority gaullist prime minister jacques chirac has swept away a cobweb of controls and regulations choking the french economy
cable shares were quoted seven pence lower in morning trading at 367p
investment firms have 59 pct of purolator pcc 
in the january year nbfis borrowings rose by 95 pct from a revised 101 in december and compared with a previous januarys 128 at the end of january broad money stood at 175866 mln dlrs dlrs from decembers 174668 mln dlrs and a january 1986 level of 159453 mln
it said the dividend was payable april 20 1987 to shareholders of record april 6
since then banking analysts have speculated bankamerica may do well to defer action on the offering while it continues to attempt to improve its financial situation
it will be business as usual for texaco said martin klein a bankruptcy attorney at the new york law firm dreyer and traub
the payments would cost an estimated 11 billion dlrs myers said
but finance officials had earlier said the length of the suspension would depend on negotiations with private foreign banks
japan requested bilateral consultations in accordance with article 23 1 of the general agreement on tariffs and trade gatt in washington yesterday
brazilian business leaders attending a weekend meeting with president jose sarney called on the government to seek help from the international monetary fund imf in resolving its debt problems
calstar also obtained a 500000 dlr revolving line of credit
in addition simon the companys biggest shareholder holds about 960000 of the 62 mln ouitstanding shares
the lower supply levels result from a number of different factors around the globe
the department declined to comment
metrobanc a federal savings bank said its shareholders approved the previously announced merger with comerica inc cmca a bank holding company
bethlehem steel says it is raising steel sheet prices by up to 30 dlrs short ton
treasurys mulford backs debt conversions
stone container sto to redeem debt
the government has not specified how the remaining 19 billion marks of the tax reduction package will be paid for though it has said it wants to cut state subsidies
het comites actions will run in tandem with questions on the levy already posed to the luxembourg court in a case brought by the association of european animal feed manufacturers fefac
but banks believe the vehicle meets a need of investors and predicted a lively future
kloeckner amp co kgaa the international trading group said its 1986 domestic group net profit fell by around 20 pct against 1985 adding that the profit resulted largely from a writing back of reserves
the facility has a 10 basis point facility fee and there is a 15 basis point maximum cap on the margin
he said it could cause the collapse of world demand and prices and destroy the domestic industry
study group urges increased us oil reserves
proceeds will be used to redeem all outstanding series 50 53 and 54 bonds each with final maturities of 2008 and bearing interest at 10 pct 9 7 8 pct and 9 3 8 pct
about 80 pct of transamericans gas is available for spot market sales in texas during peak demand it said
maki said the us and japan will hold detailed discussions on each trade item as well as a new round of gatt trade talks at a meeting on april 20 in which us trade representative clayton yeutter will join
the bond issued at 9830 pct will have interest based on the annualised money market rate tam with the first coupon paid on april 6
the loss of factory jobs brought the march total to 1919 mln jobs and was concentrated in automobile electrical and electronic manufacturing
fleets current annual distibution on a pre split basis would be equivalent to 168 dlrs a share
property valuation reserve surplus 67 mln dlrs
chubb cb completes sovereign sovr buyout
im saying you cannot argue with success
but the bundesbank and other european central banks were not detected in the open market during the european morning
henley group heng sets fisher distribution
genentech convertible bond upped to 150 mln dlrs
in the first quarter of 1986 marine midland reported record earnings of 382 mln dlrs bolstered by certain non recurring securities gains
first granite fgbi agrees to be acquired
the paris accord also brought a pause to the continued slide of the dollar engineered by a meeting in new york in september 1985 when industrial nations agreed to depress the value of the currency to help redress global trade imbalances
the re emergence of inflation will result mainly from the fading of two factors which influenced the fall in the 1986 cost of living the steep decline in both oil prices and the value of the dollar the institute said in a report
during march last year privately held marcor acquired a controlling interest in f and m importing divested the food business renamed the company and began operating as a real estate investment and service company
on february 22 the united states japan west germany france britain and canada agreed that major currencies were within ranges broadly reflecting underlying economic conditions given commitments by washington to cut its budget deficit and by toyko and bonn to boost economic growth
a ministry spokesman said the wholesale price index base 1953 and excluding value added tax stood at 2509 in january
the issue is guaranteed by the belgian parent
harcourt brace hbj sets harper hpr deadline
the kiel institute a leading research body is still expecting growth of three pct but some other research institutes have revised forecasts down to below two pct
the central state owned bank of greece said a consortium of japanese banks will lend it 20 billion yen for use in the public sector
civil service industrial action started early this month will delay the publication of mays uk overseas trade figures which had been due out next thursday a trade and industry department statement said
contract specifications will resemble those of heating oil and gasoline futures
karasmasoglu world bank vice president for east asia and the pacific
complaints about the inaction of the buffer stock manager are not confined to west african producers they observed
a separate article in the daily warned that a sudden thaw was expected shortly in the ukraine and southern parts of russia which experienced record snows this winter
microbiological research corp said it entered into a letter of intent for a proposed business combination with privately owned datagene scientific laboratories inc and milex corp a newly formed company through a stock swap
the company said the transaction includes most of lazeres loan portfolio and other assets including lazeres miami office
the spokesman told the price for these would be fixed just before they go on sale but was likely to be between 8500 and 9000 francs
during the field trip long truck lines were noted at grain elevators where preference is given to soybeans over corn the report said
the bank of england said it has revised its estimate of todays shortfall to around 125 billion stg from 13 billion before taking account of 775 mln stg morning assistance
share results after deducting preferred share dividends of one mln pounds sterling in 1986
us trade deficit 3837 billion dlrs in 4th qtr
exporters said dauster is not under any great pressure to start marketing coffee immediately
purchasers of the shares are entitled to get one additional share for each share purchased to give effect to the two for one stock split approved by the board february 26
on march 16 twa withdrew its bid saying it did not intend to seek control of usair group or to acquire more of its stock at the time
the bank of japan bought a modest amount of dollars this morning possibly around 200 to 300 mln dealers said
personal incomes rose by 109 pct in 1986
uk unemployment falls below three mln in may
the rule change which has already taken effect for platinum futures on nymex is expected to increase the open interest and liquidity in us energy futures according to traders and analysts
bankers trust co said it raised its broker loan rate to 7 1 4 pct from seven pct effective immediately
winthrop knowlton chairman of special committee said no determination has been made by the full board as to any transaction he said the special committee and kidder peabody and co inc intend to engage in discussions with interested parties in an effort to come to a conclusion in the near future
giordano said the exchange had been impressed with the performance of its australian dollar contract which since its introduction last year had regularly topped the french franc as the third most popular traded option with up to 8000 contracts traded daily
company began operating may 1985
geodome goedf to start mine construction
effective net annualized compound yield on the bills is 919 pct against 924 pct at the end march auction
the other leading contender is a consortium of american telephone and telegraph co t with philips nv of the netherlands
the new forecast for the sorghum crop is 29 mln to 32 mln tonnes compared with three mln to 33 mln forecast last week and is 238 to 293 pct down on last seasons 41 mln to 42 mln tonne crop
haggard said he does not know what chances the asa backed proposals have but said in all honesty we do not want to see the farm bill be torn apart he said if usda feels it cannot withdraw its opposition to a market loan there are still numerous ways the usda could change the loan without new legislation
the syndicate members agreed in april 1982 that 26 pct of 10 year government bonds should be underwritten by 93 securities firms 17 of them foreign and 74 pct by banks
turkish foreign ministry spokesman yalim eralp told reporters today this was unacceptable because of preconditions athens had attached
gaspe mines is the name of the noranda division that operates the murdochville mine
vegetable oil imports fell to 227500 tonnes in 1986 from 286300 in 1985 and exports to 661400 from 683400 tonnes
the employers said there were no immediate plans for meetings with the union either on the proposed redundancies or on a new work practice agreement in the sector
the debentures are convertible into wyle common stock at a rate of 1925 dlrs worth of debentures for each common share the company said
the companies said the tender offer and withdrawal rights will expireon tuesday april 28 unless extended
hawkeye hwkb 1986 annual report qualified
export business grains oilseeds complex
brazil has already frozen the lines to ensure it has enough credit to finance its day to day trade and commerce but needs to request a formal extension of the commitments to head off possible lawsuits from disgruntled creditors
commerce department officials told yesterday that baldrige opposed the planned sale and that the white house economic policy council will take up the matter within weeks
qtly div three cts vs three cts pay march 27 record march 16
norways north sea neighbour britain has consistently refused to cooperate with opec output cuts saying it is up to the producing oil companies to set the levels of production
italys state owned banca nazionale del lavoro bnl said it would issue 120 mln dlrs of five year convertible eurobonds an operation to be lead managed by credit suisse first boston ltd bnl president nerio nesi told a news conference that the issue to be placed on the main international markets and listed in luxembourg would be the first equity linked issue by an italian bank on the euromarket
duff phelps lowers duquesne light dqu debt
he said he would not seek more money from the international monetary fund to which brazil paid 922 mln dlrs last year and said brazils problems could not be solved by imf intervention
in the gulf strong demand from the far east pushed premium on small cargoes five to 10 dlrs above government selling price gsp for propane and 10 dlrs for butane traders said
if the company is unsuccessful in obtaining the approvals needed for the sale and liquidation it said the company may be required to initiate reorganization proceedings under federal bankruptcy law to facilitie the distribution of its assets
banking sources in london had been quoted earlier as saying the british banks were balking at signing the package in an effort to get all participants to contribute equally to a new 77 billion dlr loan contained in the deal
henkel kgaa of dusseldorf west germany said it has completed the acquisition of the process chemicals division of occidental petroleum corps oxy occidental chemical corp subsidiary for undisclosed terms
canada mulling selling petro canada mulroney
net international reserves now total about 800 mln dlrs compared to 154 billion dlrs a year ago
the banks affected by the change in investment coding are bank of new york co inc bk bankers trust co bt chase manhattan corp cmb chemical new york corp chl citicorp cci irving bank corp v manufacturers hanover corp mhc jp morgan and co inc jpm marine midland banks inc mm republic new york corp rnb bank of boston corp bkb and first chicago corp fnb the institutional sources said that thomas hanley a director of salomon inc subsidiary salomon brothers who is in charge of bank stock research believes citicorps move is well timed
it denied an iranian report that an iraqi jet was shot down
haynes said more satisfactory product margins on its petroleum products could result if demand recovers as it has in the united states
gillette canada issues 70 mln stg bond
it said it will retain the mayo two site for later development of a generating unit
standards for all of the grades would remain unchanged under the proposal
analysts see no other bidder for purolator pcc 
robert d
reagan last year blocked senate consideration of a tough house trade bill he branded as protectionist and this year he only reluctantly agreed to support a trade bill when he saw democratic leaders were determined to pass such legislation
individual west europe country estimates in 1000 hectares with 1986 figures in brackets are belgium luxembourg 114 118 denmark 69 69 france 419 421 greece 35 44 ireland 36 38 italy 270 275 netherlands 129 138 portugal 1 1 spain 192 190 uk 200 201 west germany 385 399 austria 32 28 finland 30 31 sweden 51 52 switzerland 15 14 turkey 355 340 yugoslavia 160 136 eastern europe plantings are forecast as follows ussr 3400 3440 albania 10 9 bulgaria 52 50 czechoslovakia 195 196 east germany 210 205 hungary 108 96 poland 460 440 romania 295 280 on the basis of average yields this year licht said these area forecasts pointed to a total european beet sugar crop in 1987 88 of 298 mln tonnes raw value down from 314 mln tonnes in 1986 87
the commodities are for delivery during the current fiscal year ending this september 30 it said
the market feels it can take on the central banks and win said michael snow head of treasury operations at union bank of switzerland in new york
charter said the merger is subject to approval of the federal home loan bank board
energy secretary john herrington said his proposed option to raise the oil depletion allowance to 275 pct was probably the most economically promising way to spur domestic production
the institute said this could be done by ensuring that fiscal policy fosters a willingness to work and invest
31 1982 not already owned by aegon
principal repayments were not due until 1990
a management group is currently being formed
a drawdown of corn supplies in china and argentina concern over soviet winter crops and increasing competition for us corn were all cited as possible factors in creating moscows recent interest
growth this year should be at least one pct he said describing the downturn in production in the first months as a false start unrepresentative of the rest of the year
the loans were cancelled because the projects slated for aid were not implemented properly they said
of the total 300 billion yen will yield 38992 pct on sales from money houses to banks and securities houses in a 23 day repurchase accord maturing on april 24
the port jerome refinery has an annual production capacity of seven mln tonnes while fos sur mers is five mln the spokesman added
producers feared continued damp conditions could produce rotting and lead to still lower yield estimates for all the crops including soybean
wiggins and other defendants were also charged with providing false testimony and obstructing justice during a securities and exchange commission investigation
we are not pushing this place into a recession
nestle 1986 net 179 billion swiss francs vs 175 billion div unchanged 145 francs
trace products which manufactures diskette and tape duplication equipment for software publishers had earlier agreed to acquire portland ore based central point for 55 mln shares of its common stock
the agency said it has 79 billion dlrs invested in canadian private sector businesses after channeling 965 mln dlrs of new funds into this area in 1986
aluminium capacity expansion planned for the period after 1990 will be insufficient to supply any acceleration in demand growth let alone an increase on the scale which seems likely according to analyst anthony bird associates 1987 aluminium review
the securities and exchange commission removed a key regulatory obstacle to trading futures on designated foreign debt securities on us exchanges
westpacs 1750 pct is the lowest prevailing rate
thai trade deficit widens in february
the federal national mortgage association said it will begin purchasing 10 and 20 year fixed rate mortgages in addition to 15 and 30 year mortgages
the inflation data compares with market forecasts for a rise of 04 05 pct in february and a yearly rise of about four pct economists said
us home resales up in february realtors say
brazilian coffee rainfall
the letter pointed out the company has not heard from supermarkets general since making the offer other than on this past monday when we were informed that our offer would be seriously considered and that you would get back to us on a timely basis to arrange a meeting dart said it has acted openly and amicably in an effort to facilitate its proposed acquisition adding it has not purchased additional supermarkets general stock since prior to submission of its offer
saudi arabia will not agree mad oil price rise
canadian pacific cp seeks buyer for unit
sprint optimistic despite losses
the market has not approached the old price limits and trading is relative quiet in narrow ranges he added
oper shr loss 125 dlrs vs loss 44 cts oper net loss 2915000 vs loss 951000 revs 8131000 vs 119000 note 1985 net excludes 625000 dlr gain from discontinued operations
hearings were completed in february and a decision by the british columbia utilities commission on the 60 mln dlrs purchase by utilicorp is pending he said
shr 27 cts vs 18 cts net 1757000 vs 1201000 revs 735 mln vs 712 mln
share dealers said speculation had arisen in the early pre bourse market that the veba announcement could come as early as today
eastman kodak co said it has acquired an 187 pct equity interest in enzon inc a pharmaceutical company specializing in protein therapy
a cwc spokesman said a three day campaign was suspended after a cabinet committee promised to speed up procedures under a new set of regulations
aegon said this was due to a change in accounting for us annuities
for three years running theyve moscow failed to live up to what we considered was an agreement
the bank of england said it had revised its forecast of the liquidity position in the money market today to a surplus of 150 mln stg after it estimated a flat position earlier this morning
at the same time it wants to avoid an expansionary monetary impact from on lending schemes whereby debt repayments are recycled by banks into new loans
trade house kaines said it sold jordan two cargoes of white sugar at its buying tender today
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
norris oil co noil dec 31 year loss
advo said it previously announced it would report a net loss for the quarter
american stores co said it expects to report earnings per share of 370 to 385 dlrs per share on sales of slightly over 14 billion dlrs for the year ended january 31
in addition farah said it received shareholder approval to change its name to farah inc from farah manufacturing co
rockwell reported net earnings in its first quarter ended december 31 of 1494 mln dlrs or 105 dlrs per share compared to 1258 mln dlrs or 84 cts per share a year ago
the securities industry association sia has asked the us supreme court to overturn a lower court ruling that would allow banks to sell commercial paper sia general counsel william fitzpatrick said
under the proposed sale the companies said aloha would acquire the entire princeville airways commuter operation and access to the princeville airport on the island of kauai
integrated said field trials will begin immediately under the direction of granada corps granada r and d ventures integrateds partner in this area
the companys 65 dlr a share cash offer for piedmont stands he said
the company said the lighter weight would allow smaller powertrains and suspensions further reducing weight and improving fuel economy
the recent attempt by jacobs suchard ag jaczz to take over hero conserven lenzburg herzz had shown the limits of a 1961 pledge by the banks not to sell registered shares to someone who was not eligible according to the companys statutes
twa said it would refile today providing the information needed
the group also intended to expand the number of its estate agency firms bought last year and hoped they will comprise between 10 and 15 pct of total company profits in the future
diplomatic sources here said several recent actions by ec countries bear witness to a new disillusionment with the willingness or at least the ability of the japanese government to reduce its massive trade surplus with the ec
ronald tappmeyer president of the international association of drilling contractors said the members of our trade asssociation are convinced that only a variable oil import fee that sets a minimum price trigger can protect our nation the association represents some 1300 drilling and oil service companies
plans to rejuvenate polands economy by reducing central government control would help reassure western creditors that the countrys economy was safe to invest in a senior polish official said
this was accepted by spains carburos metalicos sa which sold aga six pct of duffour et igons stock and the right of first refusal on the remaining nine pct of stock it holds
ault inc ault 3rd qtr march one net
oii said it is anticipated that the securities will be traded in the over the counter market
niagara mohawk nmk debt downgraded by moodys
whether the soviet union will fulfill its buying obligations under the us ussr grains agreement depends entirely on the united states a soviet trade official told 
world economic growth and therefore an expansion of debtor countries export markets are needed to solve the debt issue he added
henze which is engaged in performing nuclear plant repair work had revenues of 127 mln dlrs for the year ended december 31 1986
berger asserted that brazil is doing its own politicking by talking to us regulators and trying to drive a wedge between us and european banks
grain reserve holdings breakdown
he said he believed the new restrictions are a temporary measure designed to buy time as the central bank grapples with the exchange rate problem
this year should be the fifth solid year in a row for homebuilding activity with single family units stronger than multi family units he said in a statement
koreans to buy 18 billion dlrs in us goods
the price was not disclosed
mohler said the cold front now over the eastern belt is expected to move over the central midwest then move north later in the week
the sources said the loan is needed to rehabilitate the the state owned philippine national bank pnb and the development bank of the philippines dbp which together are burdened with seven billion dlrs of non performing assets
between december 1985 and november 1986 the united states imported the equivalent of 546 mln gallons of brazilian orange juice worth 622 mln dlrs he said
he said some of this subsoil was apparently washed away
a european commission spokesman in brussels earlier confirmed that one mln tonnes of sugar had been offered to intervention boards in various member states
underlying sentiment for the dollar remains bearish due to a still sluggish us economic outlook the international debt crisis triggered by brazils unilateral suspension of interest payments on its foreign debts and the reduced clout of the reagan administration as a result of the iran contra arms scandal said a senior dealer at a leading trust bank
it paid total dividends of 130 dlrs per share last year equal to 26 cents per share adjusting for the bonus and share split
john adams life corp jalc 4th qtr loss
the goal of trade legislation was to make our trade policy stronger without violating our international trade agreements he said
valex petroleum inc valp year dec 31
however some gst charges not measured in the december 1986 quarter influenced the latest march quarterly figure it said
dieter said mannesmanns pipe activities would suffer a set back although measures to cut costs which were started last year were now having an effect
chinese hotel raises 21 mln dlr loan
garrones refinery at san quirico capacity 130000 bpd is due to shutdown on march 14th for three weeks and the jointly owned isab garrone refinery at mellili capacity 220000 bpd is due to start up around march 20 25th following its closure for maintenance a month ago a company spokesman said
both dividends are payable april 27 to shareholders of record march 31 the company said
heller said the effects of these actions would be banks that are at least as strong as the corporations holding them in which customer deposits were assured while any incentive to loot the bank was removed
1986 operating profits were higher in all areas apart from zimbabwe mines which were hit by the strength of the local currency against the dollar
adtec inc jail 3rd qtr feb 28 net
the company said the acquisition is subject to regulatory approvals
princeville development corp and aloha inc parent of aloha airlines inc jointly said they agreed to terms for the sale of princeville airways inc to aloha
morgan earned 2339 mln dlrs in the first quarter of 1986
wilton enterprises inc wltn 2nd qtr jan 31 net
outstandings now exceed 56 billion dlrs the company said
because of the texaco filing some investors bid down its paper to the mid 60 area around 650 dlrs per 1000 dlr face value from around 95 friday said a dealer in high yield low rated bonds
in 1986 exports totalled 224 billion dlrs and imports 129 billion
the number of vacant positions registered with employment offices stood at 11968 against 10694 in january
additional details were not immediately available
hog and cattle slaughter guesstimates
apr jun shipments traded fob east coast at 123 stg per tonne
1986 3rd qtr and nine mths net also includes in discontinued operations a loss of 36 mln dlrs from fairchild semiconductor offset by a 53 mln dlrs gain from favorable settlement of litigation with data general
he told reporters the government organisation had expressed interest in one seat on smcs 15 man board and was preparing to invest 800 mln pesos assuming a purchase price of 100 pesos a share
no intervention dollar fixed at 18218 marks
shr profit 23 cts vs loss six cts net profit 319564 vs loss 84203 sales 6419230 vs 5583560 year shr profit 111 dlrs vs profit 43 cts net profit 1582125 vs profit 654083 sales 262 mln vs 226 mln note full year 1985 includes gains of two cts per share from discontinued operations and four cts per share from disposal of assets
under the terms of portugals january 1986 accession to the european community ec a grain import monopoly held by epac empresa publica de abastecimento de cereais is being reduced by 20 pct annually until all imports are liberalised in 1990
s and p said the action reflected a change in the issues terms to unsecured from secured
i dont think the bundesbank would give that up one banking analyst said
the bank of france intervened on the market to buy dollars and sell yen to support the us currency dealers said
they financed it entirely with debt the currency collapsed on them and then the oil price collapsed on them owen evans of sydney broker meares and philips ltd said
barschel was found dead in a hotel bath in geneva last weekend
a shareholder group led by far hills nj investor natalie koether said it is reconsidering its plan to seek control of computer memories inc and now plans to sell its entire stake in the company
the system has come under severe strain as funds have flowed out of the slumping dollar and into the dominant ems currency the west german mark sending it soaring against weaker currencies in the system
no explicit target was set for the broad sterling m3 aggregate he said
japan today announced another mammoth monthly trade surplus that economists said would be sure to intensify already mounting pressure on the country for action
there will be eight members three of whom were designated by the new investors the company said
the 14th congress of the inter arab cambiste association also comes at a time when the prospect of a unified gulf currency system is more real that at any time this decade
it was the largest inventory rise since july 1979 when inventories were up 17 pct
the talks began last august the company said
however the bank as an institution can finance the development aspects of the program we will deal with the part of the program that deals with how to put the land to effective use once it has been transferred and how to make the on farm investments that are needed to attain the goal of improving the income level of the beneficiaries arrivillaga said
the country needs all the foreign exchange it can get and shipowners have been quick to denounce seamen for the harm the strike is doing to exports
baker told a house appropriations subcommittee the 15 billion dlr recapitalization plan approved by the house panel was sufficient while the 75 billion dlr plan in the senate passed bill was inadequate he also urged the house to reject loophole closing provisions in the senate bill that would restrict banking activities
industry sources said japans lpg imports will not greatly rise or fall as its domestic demand growth is estimated at a moderate 21 pct a year from 1986 through 1991
they said saudis supply capabilities of lpg an associate of crude oil is guaranteed by its crude output capacity
spar aerospace ltd year net
the smelter also produced cadmium bismuth and indium
president alan garcia said peru has found gold deposits worth an estimated 13 billion dlrs in a jungle region near the ecuadorean border about 1000 km north of here
it also said that in recent years communist countries have increased their silver imports and estimated that china and east germany alone took in 70000000 ounces of foreign silver in the last five years
i see sumatra has great potential as in the plantation sector in which family units are employed in great number he said according to the agency
chrysler c amc buyout valued at 155 billion
terms of the contract were not disclosed but kellogg said the total cost of the plant will be 300 mln dlrs
the more you look at ways to expand export markets the more you have to look at ways to expand certs to put more grain into the market to meet demand he said
novamin in proposed buyout by breawater bwrlf 
each note is convertible into one share
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
the inter arab cambist association ica elected abdullah al dakhil of kuwaits burgan bank its new chairman succeeding hani ramadan of beirut riyad bank for a three year term ica officials said the annual meeting elected three vice chairmen ezzedine saidane of banque internationale arabe de tunis mohammed osman of societe bancaire du liban and walid nasouli of morgan guaranty trust co of new york
torrential rains throughout argentinas grain producing areas virtually paralysed coarse grain harvesting in the week to yesterday trade sources said
johnson and several other economists now estimate that the fed funds rate should trade between 6 1 4 and 6 3 8 pct
oregon lumber company to sell wood to iraq
analysts said canadian airlines with its newer fleet needs to make fewer replacements and can afford these without hurting profits
qtly div seven cts vs seven cts in prior qtr payable april 15 record march 31
the available tranche will be determined by argyll on an annual basis
honduras seeking vessels for bulk wheat shipment
the reserve bank said it would offer 400 mln dlrs of 13 week treasury notes and 100 mln of 26 week notes for tender next week the bank said it would not take up any stock at next weeks auction
us dlrs
speculative inflows could cause monetary aggregates to grow
the yen sank below 145 at one point despite intervention by the bank of japan
personal computer products pcpio expects loss
this gave an annualized 83 pct rise over the six months to february down from a 102 pct increase over the six months to january
gulf resources gre to have gain on stock sale
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
japan oil industry decontrol may lead to mergers
us housing completions fell 02 pct in jan
hemodynamics inc hmdy year loss
there is a general fear that we will become a country with high unemployment said takashi kiuchi senior economist for the long term credit bank of japan ltd
the high and low plains accounted for 60 pct of the 25 mln bales produced in texas last year stillmann said
while awaiting fda approval the company said it is proceeding with plans for commercialization through its mcneil specialty products co subsidiary
senior japanese us and european officials in tokyo say they are at a loss to fully explain the data for if currencies are the key they ask why then are are us exports to japan shrinking what if manipulating currencies and driving the dollar down made world trade problems worse rather than solving them fulfilling federal reserve chairman paul volckers forecast of world trade recession us japan trade has declined even after a 40 pct dollar fall against the yen since the september 1985 group of five pact in new york
everyone is talking about it assessing their companys situations in relation to texaco he added
brazil is preparing a new economic strategy intended to protect domestic growth finance ministry sources said
the wheat for jordan includes 165000 tonnes of hard red winter and 35000 tonnes of soft red winter and is for delivery during the 1987 88 marketing year
pentair pnta files to offer preferred
corrected federal paper fbt raises payout
company official andre fortier said we are hopeful that we can settle without any kind of work interruption fortier added that brunswicks estimated 500 unionized smelter workers were currently meeting about a noranda contract proposal and would probably vote next week
conable arrived here on saturday and will have talks with suharto tomorrow
maha paddy output was now estimated at 70 mln bushels 20 mln less than originally expected
gaviria said the measures merely responded to new market factors since a return to a system of international coffee organisation ico export quotas may not occur in the short term
us feb consumer credit rose 177 billion dlrs
the company said that by year end 1987 it intends to complete the repurchase of 33 mln shares remaining of a five mln share buyback program which began in 1986
they saw the current account surplus falling in 1987 to 58 billion marks from 78 billion in 1986
a failure to do so could have grave consequences for the industrys continued ability to provide its customers with reliable natural gas said tennessee gas transmission co president rc thomas
speaking to reporters after talks with president suharto he said he expected jakarta to do more to liberalise the economy and deregulate trade policy
the company said it entered into a 90 day option effective march 9 to purchase a 207 acre lot with a vacant 143000 square foot building located in sapula okla
japanese compound feed output rose 23 pct to 2580 mln tonnes in 1986 87 ended march 31 from 2523 mln a year earlier the agriculture ministry said
union sources said talks with the state government broke down last night but the two sides are scheduled to meet later today in an attempt to find a compromise
as a result of the impasse the us is considering restrictions on imports of items such as argentine corned beef and finished leather the us sources said
chemical new york corp and texas bancshares inc tcb said the federal reserve board approved their proposed 119 billion dlr merger
dh howden and co ltd increases dividend
payment date is may 15 denominations are of 1000 and 10000 ecus and listing is in luxembourg
so worst of all what if volcker is correct at a loss to give an objective explanation officials can only offer explanations which tend to be highly subjective
asked if the bank of japan will consider a further cut in its discount rate he said he now thinks the bank will have to carefully consider its future money policy
bench craft inc sofao 3rd qtr net
analysts said the markets euphoria was simply a reflection of supply and demand
the company said that npo therapies president and founder kelly mutchie has joined new england critical care as regional vice president covering the western united states
state bank of south australia issues novel bond
new zealands broadly defined seasonally adjusted m 3 money supply grew an estimated 24 pct in january against a 34 pct revised from 36 rise in december and a 07 pct rise in january 1986
an exchange loss of 76 billion ringgit in 1986 pushed malaysias outstanding external debt up to 5099 billion ringgit from 1985s 423 billion the central bank said in its annual report
nevertheless mason thinks the money center bank stocks could be poised for a short term rally
s and p said the action reflected several positive factors which emerged over the past year including a better balance of supply and demand in the chemical industry
upon completion of the transaction infinity will own nine fm and four am stations in 10 major markets
holdings plc rtrsl said it had agreed in principle to buy i p sharp associates ltd of toronto for 304 mln stg
the japanese economy will remain sluggish in the months ahead after turning in its worst performance for 12 years in 1986 private economists said
yen seen rising after g 7 communique
sources said germany was the most extreme against quota re introduction while the italians were most in favour
federal reserve board governor robert heller said that the dollars current level is appropriate but declined to comment on widespread market reports of concerted central bank intervention this week
payment of 310 dlrs and delivery of two warrants will entitle the shareholder to one additional share of the merged company
att t offers document software product
italian interior home markets have been active in recent weeks and traders said around 200000 tonnes have traded between dealers and home consumers
hudson bay mining cuts us canada zinc prices
van der vorm said however the unions demands on a range of issues were far in excess of the managements final offer
the yens appreciation continued to affect employment in manufacturing industries and the total employed in may fell 210000 or 15 pct from a year earlier to 1410 mln
canada will offer a 12 billion dlr four part bond issue tomorrow which will be dated march 15 and delivered march 16 the finance department said
pravda said there were 2838 mln people in the soviet union as of october 1
both guidelines set five broad categories of risk for loans and other bank assets and assigned to each a level of risk that would establish a banks minimum capital needs
trimedyne tmed to spin off stake in unit
shr 39 cts vs 32 cts net 2524000 vs 204600 sales 285 mln vs 235 mln nine mths shr 101 dlrs vs 109 dlrs net 6323000 vs 6990000 sales 806 mln vs 688 mln note current qtr and nine mth net include 447000 dlr gain on asset sales
the spokesman said that since the uk government last month blocked ferruzzis bid to acquire british sugar plc the company had been looking at other investment opportunities
citicorp cci was the other partner in cyacq
fees from trust and other banking services rose to 1465 mln dlrs from 1293 mln a year earlier chemical said
shr loss 567 dlrs vs loss 517 dlrs net loss 17 mln vs loss 154 mln year shr loss 1242 dlrs vs loss 960 dlrs net loss 370 mln vs loss 285 mln note 1986 4th qtr and year net includes 119 mln dlr and 438 mln dlr provision respectively for possible land and real estate losses
the coffee pricing structure is wrong and three months behind the foreign exchange rate is unrealistic and the sooner the so called economic package is put in top gear the better for the coffee industry and the economy as a whole one of the sources said
lifestyle restaurants lif adjusts revenues
but financial analysts are divided on whether and how quickly the gamble will pay off
about 20000 miners or two thirds of the working force have been laid off through the governments decision to streamline the deficit ridden state corporation following a collapse in the international tin price
american electric aep unit to redeem debt
the payment date is april 8 and there will be a long first coupon period
the dow chemical co said its engineering thermoplastics department will increase the selling prices of standard grades of magnum abs resins by three cts per pound
comdata network inc said it is in active talks with other parties on a possible acquisition or recapitalization of comdata in an effort to maximize shareholder values
japans unadjusted consumer price index base 1985 fell 04 pct to 997 in january from the previous month the governments management and coodination agency said
alex
foreign bills remained at zero in march while investments fell slightly to 10569 mln rand from februarys 10656 mln rand and other assets to 202 billion rand from 211 billion the figures showed
of all corporate ratings changes during the quarter 66 pct were downgrades compared with 55 pct during all of 1986
fao sees lower global wheat grain output in 1987
sales during the first five months to february was 126 billion marks 467 pct down from the same 1985 86 period
a reagan administration official said the paris agreement last month was the main reason markets were calm
the instrument enables banks to diversify their funding base in a significant way in yesterdays series the issuing banks coupon rates were set at the commercial bank composite rate plus a spread which is expected to equal an all in cost of libor minus 10 basis points shearson said
ecuador is due to resume limited crude oil output on may 8 when a new 43 km pipeline to neighbouring colombia should be finished an energy ministry spokesman said
the government last week reached agreement with its 13 bank advisory committee to reprogramme its 12 1 2 year rescheduling accord over 14 years with the interest margin lowered to 7 8 pct over london interbank offered rate libor from 1 1 8 pct
dayton hudson corp dh 4th qtr jan 31 oper net
autotrol corp autro 3rd qtr net
the contract size will be 1000 barrels or 42000 us gallons
non coffee exports amounted to 1808 mln dlrs fob compared with 1475 mln dlrs for coffee a drop of 42 pct from last year
private sector credit grew to 2224 billion dlrs from a revised 2092 billion in november and 1701 billion in december 1985
analysts noted the significance of the governments apparent success in preventing fujitsu from taking control of fairchild
however this practice is likely to dwindle given the reduced scale of production they said
several local newspapers reported the joint venture would be capitalised at 150 mln dlrs owned 60 pct by inland and 40 pct by nippon steel and have annual production capacity of one mln tonnes of steel to supply car makers
nbc said its proposals would give it greater flexibility in sports and news coverage
the australian wheat board awb expects to sell about 900000 tonnes of wheat to the japanese food agency this year after renewing its annual supply agreement awb general manager ron paice said
oper shr 18 cts vs 51 cts oper net 1048000 vs 1870000 revs 722 mln vs 735 mln avg shrs 5910000 vs 3680000 year oper shr 82 cts vs 72 cts oper net 4307000 vs 2637000 revs 2953 mln vs 2875 mln avg shrs 5235000 vs 3680000 note results exclude one time gains of 223000 or four cts and 564000 or 11 cts for 1986 qtr and year vs gains of 6359000 or 173 dlrs and 7318000 or 199 dlrs for prior periods
nj nicholas president and chief operating officer said soctt foresman will have over 200 mln dlrs in revenue in 1987
additionally the companies said the converted association would be managed by a board of directors consisting of the six current virginia federal directors and two representatives of montrose holding
crazy eddie crcyo wont oppose slate
although the intervention was widespread dealers perceive that the six major industrial nations have differing levels of commitment to their recent accord to stabilize currencies
swire properties recorded an interim profit of 120 mln dlrs for the first half of 1986 well below 260 mln dlrs for the same 1985 period but analysts said that was due mainly to the low level of completion of new residential flats
polands talks in washington with the world bank and the international monetary fund imf on the countrys 335 billion dlr foreign debt were concrete open and frank a senior polish banker was quoted as saying
commonwealth said it is continuing talks with columbia but has also opened talks with other interested parties
regency also reported 1986 earnings of 5695000 dlrs or 37 cts a share on revenues of 409 mln dlrs
business loans on the books of major us banks excluding acceptances fell 618 mln dlrs to 27888 billion dlrs in the week ended february 25 the federal reserve board said
the newest and smallest of the joint ventures united saudi commercial bank uscb reported a 1986 net loss of 159 mln riyals marginally less than 1985s shortfall of 170 mln
last week the bank offered 400 mln dlrs of 13 week notes and 100 mln dlrs of 26 week notes
it said revenues in the quarter are expected to be about 1200000 dlrs compared to 564000 dlrs a year earlier
usda is drafting regulations required by a 1986 law that would offer amnesty to illegal aliens if they worked in the cultivation of fruits vegetables and other perishable commodities
the purchase price was not disclosed
resers fine foods inc said certain directors and officers who currently represent about 85 pct of the companys stock plan to take resers private through a cash buyout
gillette canada inc is launching a 500 mln french franc bond due april 30 1992 paying nine pct and priced at 101 5 8 banque paribas said on behalf of banque paribas paris the lead manager
old dominion systems inc odsi 1st qtr jan 31
rapeseed disposals were reported at 21 mln tonnes by september 20 against 14 mln at that time last year
investor david f
on june 12 1986 the utility sold 125 mln dlrs of same rated nine year securities priced to yield 854 pct or 58 basis points over treasuries
speculation the united states will offer subsidized wheat to the soviet union appears to have reached a new level of intensity in the run up to secretary of state george shultz visit later this month to moscow
banks in canada although allowed to wait up to 180 days before declaring loans on which they are receiving no interest as non performing usually move on such loans within 90 days
west german finance minister gerhard stoltenberg and british chancellor of the exchequer nigel lawson declined to comment on the meeting as they emerged from the us treasury
asked if the us federal reserve board agreed in paris last month to intervene to stabilise exchange rates miyazawa said yes the sources said
the group which is led by the wealthy bass brothers of fort worth texas did not identify any of the other people with whom it had talks
the par priced 14 year is guaranteed by hoechst ag
fairfax says higher tax hits first half earnings
net dividend 25 francs vs 20 francs
crazy eddie said if a party owning 20 pct or more of its stock were to merge into it or if a party were to acquire 40 pct or more of crazy eddie stock right holders other than the acquiring party would be entitled to acquire common shares or other securities or assets with a market value equal to twice the rights exercise price
richard wiener attorney for apex at cadwalader wickersham and taft said the company has not yet decided whether to pursue its case against belcher oil
the english language south china morning post said us lines decided yesterday to sell its two remaining transpacific service fleets and assets and those of its us south america operation
the sorghum harvest reached between nine and 11 pct of total planted area compared to four to six pct a week ago
negotiators put final touches to new rubber pact
revenues on continuing operations rose to 1021 mln dlrs from 15 mln dlrs last year which did not include daily telegraph revenues he added
a federal appeals court ordered the oil companies to halt all exploration and remove all drilling rigs from two tracts in the bering sea off alaska because of possible harm to the subsistence needs and culture of native eskimos
taiwans trade surplus with the us rose to 136 billion us dlrs last year compared with 102 billion in 1985
the federal reserve is buying one billion dlrs of treasury bills for customer account for delivery today a spokesman for the bank said
qtly div 50 cts vs 50 cts prior pay april 20 record march 31
the feds action followed the september 1985 plaza agreement between the five major industrial nations under which they agreed to promote an orderly decline of the dollar
the senate agriculture committee rejected the proposal by a 10 8 vote virtually snuffing out us soybean producers hopes the plan would be adopted this year
qtr ends jan 30 oper shr loss 45 cts vs profit 44 cts oper net loss 225815 vs profit 219593 revs 175247 vs 827748 note oper net 1987 excludes loss from discontinued operations of 125047 vs loss 34055 for prior qtr
comalco says lower costs help return to profits
wheat durum oats and barley crops were all one pct headed rye was 40 pct in the milk stage and winter wheat was 21 pct milk stage
she told delegates at the informal meeting of trade ministers that this was one of five principles canada wanted adopted in reforming agriculture in the general agreement on tariffs and trade gatt secondly support for agriculture should avoid production incentives and thirdly countries should freeze and seek to reduce government aid measures that distorted world prices carney said
hospital corp hca board against buyout bid
he gave few details about the deal but said a crude oil loan agreement will be made between state oil companies petroleos de venezuela pdvsa and ecuadors cepe
alex brown inc absbo 3rd qet
the new system aims for an average of around 915000 tonnes of white sugar and to cut output of c sugar
iran said us naval forces attacked two of its oil platforms in the southern gulf on monday afternoon the iranian news agency irna reported
now a third of imported coffee will be sold as pure beans and two thirds as a ground mixture with a choice of 30 pct chickpeas or 30 pct barley
the company said it is anticipated the notes will be offered this week through underwriters led by first boston corp
analyst hine said the gelco and purolator canadian units will likely retain operating links with their us delivery network generating traffic for the former parent companies without them having to tie up capital in canada
acc corp 3rd qtr net
an extraordinary loss of 504000 dlrs in 1986 resulted from the write off of assets
but both these factors are no longer in our favour as a result we cannot expect an increase in foreign exchange reserves during the year he said
first boston officials were not immediatley available for comment
however rather than using their improved position to decrease the leverage of current capital structures the companies cash flows are being fully leveraged to finance a wave of consolidations s and p said
natned forecasts 1987 results in line with 1986
yeutter says dlr level based on economic policy
the increase reflects active use of the facility from the first month after signing and growing international interest from institutional investors at sub libor london interbank offered rates levels
domestically funaro said economies had led to a reduction in the public sector deficit to 27 pct of gross domestic product in 1986 the lowest for many years and that this should fall to 15 pct this year
bouygues bouypa tv award seen boosting group
the agent said deliveries of northern spring dns wheat will include laydays of july 1 10 for 7500 9500 tonnes august 1 10 for 8000 10000 tonnes and september 15 25 for 12500 14500 tonnes
icahn says he is target of sec investigation
moodys and s and p ratings are pending
results for the first month of the new year were encouraging after a period of uncertain consumer confidence and difficult trading conditions it said in a statement
we think the stock will do moderately better than the market he said
smartnames to buy american information network
the government usually considers the output measure the most reliable way of measuring short term gdp changes
national bank mortgage issues canadian dlr bond
greenman bros inc gmn 1st qtr may 2 loss
the redemption rate will be calculated according to a complex formula tied to the spot yen dlr currency rate yamaichi said
both m2 and m3 are will be at the low end of their target ranges in march the fomc minutes are neutral for the bond market zielonka said
in addition bankers balances below target and a rise in note circulation will drain a further 135 mln stg and 30 mln stg respectively
i think instinctively they want to remain independent said dudley heer of duff and phelps
stoltenberg assumes cooperation will continue
in the first two months of the year imports excluding oil and wheat totalled 18 billion dlrs against 147 billion in the same 1986 period
blampied will become vice chairman and chief operating officer of the holding company
2 it had purchased no additional fairchild shares and had sold 6700 shares on the new york stock exchange jan
rising water levels on the rhine caused by heavy rain are delaying an operation near karlsruhe to raise two sunken boats which have blocked the rivers main navigation channel since early last week a karlsruhe water authority spokesman said
advanced tobacco atpi merger talks end
taiwans trade surplus with the united states hit 136 billion dlrs last year
system software associates inc said it completed its previously announced acquisition of admin edp pty ltd for cash and a small amount of stock
enex resources corp enex 4th qtr loss
southwestern bell said the stock split is its first
indonesia has imported palm oil traders say
oversea chinese banking corp ltd ocbmsi year
the loan is to help finance completion of yugoslavias north south motorway railway modernisation and export oriented industrial projects
last january chavin said he retained investment banker rg dickinson and co to advise him on his myers stock dealings
qtly div 66 cts vs 66 cts pay may one record april 15
sumitomo produced 1800 tonnes of a nickel a month until end 1986 but cut output in january because of stagnant demand a company official said
the sanctions take effect in mid april
it said economic prospects had been less promising over the past few months because of a sharp fall in the value of the dollar and a slowing of world trade factors which would restrain community exports
more and more companies have announced plans to move production facilities offshore to take advantage of cheaper costs abroad they said
they warned of a severe drought if the prevailing conditions continued until next month
the paris club of creditor nations agreed to a major rescheduling of ugandas and mozambiques government to government debts the club said in a statement
it closed at 3440 to the us dollar today and is expected to rise to about 32 to the dollar by the end of this year foreign bankers and economists said
there will be a facility fee of 75 basis points on the available part of the facility and a fee of five basis points on the reserved part
we sweep a lot under the carpet he said
kuwait said seeking foreign protection for oil
the smoothed but not seasonally adjusted deficit on invisibles was 226 mln dlrs against 225 mln in january and 234 mln in february 1986
but other changes including revisions in the domestic options market and introduction of futures contracts need lengthy statutory changes and this may take years bankers and dealers say
marriott mhs to sell hotel
the state owned cotton export corporation was likely to export 38 mln bales of cotton during the current fiscal year compared with 386 mln last year cotton traders said
the upcoming five month deficiency payments to corn and sorghum farmers will be made half in cash and half in generic commodity certificates a senior agriculture department official told 
it said that the uae and ecuador may demand higher quotas in vienna but the biggest obstacle is iraq which has refused to honour its quota as it is less than that of gulf war enemy iran
a bank study carried by the emirates news agency wam said total oil revenues of the six gulf cooperation council gcc countries were likely to reach 39 billion dlrs this year from 335 billion in 1986
the subcommittee is considering a toned down version of democratic sponsored trade legislation that aims to open foreign markets but which drops last years effort to force president reagan to retaliate with quotas or tariffs
it will also help develop the mine complex it added
i am very impressed with the strong basic earnings story analyst smith said noting that the company has fine tuned its buying and inventories and has admirably controlled costs in a time that they needed to the stock jumped 2 1 2 to 98 3 4
statoil will share the licence with subsidiaries of us oil companies tenneco inc tgtn and texas eastern corp tetn and the italian oil company agip spa s norwegian subsidiary
canadian money supply rises in week
wells fargo and co wfc 1st qtr net
shr loss two cts vs loss four cts net loss 199010 dlrs vs loss 398202 dlrs revs 1284939 dlrs vs 359440 dlrs nine mths shr loss 10 cts vs loss 14 cts net loss 973542 dlrs vs loss 1298203 dlrs revs 39 mln dlrs vs 1269098 dlrs notethe third quarter ended april 30
du plessis said no political demands were made by the banks and south africa was now rapidly returning to very good relations with its foreign creditors
martin bachem of morgan guaranty said his banks issue was competitive despite its relatively high premium
under the plan coastal would buy the natural gas reserves and pipeline system owned by transamerican in texas for an undisclosed amount
the company said burke is president and chief executive of allied comprehensive health inc abilene while bruce is a partner in the washington law firm of butler and binion
colombia currently produces about 360000 barrels per day bpd of crude
bond service downgrades royal bank of montreal
in exchange for the cable and wireless hong kong capital hong kong telecommunications will issue 418 billion new shares to cable and wireless plcs cable and wireless far east ltd
fed adds reserves via customer repurchases
the confrontation eased after the turkish government said it had been assured athens would not begin prospecting in disputed waters
shr seven cts vs seven cts prior qtr pay april 30 record april 15
landes and schwartz had reached an agreement in principle with the new york video tape service company on a 1250 dlr a share takeover proposal last september but subsequent merger talks broke down in october
it said b and d is a private company headquartered in kansas and had sales of 4700000 dlrs in 1986
the current gross 725 pct interest rate for one year fixed bank deposit and the 115 pct minimum loan rate are the lowest in a decade
bristol myers has the right to call off the agreement under certain circumstances it said
the firm named goldman sachs and co and merrill lynch capital markets as managers of the offering
under an agreement between the two companies revlon must have the permission of gillettes board before making an offer to shareholders
two house republicans representatives larry craig of idaho and beau bolter of texas have introduced the bill
he told a meeting of the presidents export council that the japanese and the germans have cut their profit margins to reflect recent drops in the dollar so prices have remained much the same
the central bank purchased outright bank bills comprising 120 mln stg in band one at 10 7 8 pct and 227 mln stg in band two at 10 13 16 pct
plaza group said it completed a transaction in which it merged its wholly owned subsidiary flyfaire international inc into shefra inc a public company in return for a controlling interest in shefra
in a briefing book for the drafting sessions a number of revenue raising tax options are proposed including a five dlrs a barrel fee on domestic and imported oil a fee just on imported oil and a broad based tax on domestic energy consumption based on five pct of value
oper shr loss one ct vs loss seven cts oper net loss 80640 vs loss 787738 revs 933183 vs 3346627 avg shrs 6122378 vs 8451578 year oper shr loss 75 cts vs loss 110 dlrs oper net loss 5120206 vs loss 9288996 revs 5846962 vs 18679090 avg shrs 6805951 vs 8387802 note earnings exclude losses from discontinued operations of 178437 dlrs or three cts a share vs 154767 dlrs or two cts a share in the quarter and losses of 706984 dlrs or 10 cts a share vs 572100 dlrs or seven cts a share for the year 1986 year earnings exclude gain from early extinguishment of debt of 11318289 dlrs or 166 dlrs a share
referring to pressure by oil companies on opec members in apparent reference to difficulties faced by qatar he said we expected such pressure
he gave no further details on the release which was confirmed minutes earlier by a mitsui spokesman in tokyo
but banking sources said west germany was more likely to produce its own conclusions than to adopt foreign proposals
the french statement described the target as an iranian military platform but the french statement added that everything must be done now to avoid that these military developments lead to a new escalation of the conflict
david knox world bank vice president for latin america said bolivia should invest in projects which would spur growth following six consecutive years of economic contraction
quartz engineering and materials qrtz 1st qtr
iran denied as baseless reports that it intended to threaten shipping in the gulf and said any us interference in the region would meet a strong response tehran radio said on sunday
sen
growth was 24 pct in 1986
nec corp is establishing a 150 mln dlr euro commercial paper program with a sterling option morgan guaranty ltd said as arranger
west point pepperell inc wpm rose 1 7 8 to 67 1 8
leading us farm state senators are seeking to insert into the senates omnibus trade bill a provision that would broaden eligibility requirements under the us agriculture departments export enhancement program eep to include traditional buyers of us farm products including the soviet union senate staff said
gas sales should begin in the first quarter of 1988 it said
this is the third such offering the company has made and the second in the past four months
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
however analysts agree the bank is largely trying to set the timing of a cut than holding out against one altogether
fleet flt shareholders approve share increase
i think 40 would be a minimum price
csr ltd has made a bold move in selling its oil and gas interests for almost a billion dlrs and ploughing 150 mln into its traditional sugar business share analysts said
stone container corp said it has elected to redeem 200 mln dlrs of convertible debt
it said sourrouille would urge the imf to release a 480 mln dlrs compensatory loan for falling exports as well as the first two tranches of a standby loan totalling 450 mln dlrs
the field seems to be shallow and widespread which will require a multi platform development in recovery pushing costs up christopher osborne of stockbroker hoare govett said
it added that revenues would have risen by about seven pct had those changes not occurred
sears total apparel sales was up only modestly but even a modest improvement in apparel is a very good accomplishment due to the fact that most people will buy apparel in april said cj lawrence analysts harry mortner
the company said its stock price will be adjusted to reflect the split on april 21
mco resources inc mcr 4th qtr loss
hydraulic thc splits 3 for 2 hikes dividend
analyst said
bolivian foreign minister guillermo bedregal told reporters west germany would provide 300 mln marks to help fight bolivias cocaine trade
at february 28 first federal had 129 mln dlrs in assets and 120 mln dlrs in deposits
it said the amount which includes about 40 mln dlrs for sulfur dioxide controls at company power plants is 42 mln dlrs more than the previous five year period
microsemi said the purchase includes the fixed assets software inventories technology intellectual properties and other business operations of hci
king world productions inc kwp 2nd qtr feb 28
hmo america hmoa agrees to be acquired
kuwaiti oil exports said not affected by gulf war
however some economists said the fed may arrange more aggressive system repurchase agreements
recent price rises have not altered polish plans wincenty nowicki a deputy director of cukropol the amalgamated sugar industry enterprises said
us housing completions fell 02 pct in january
on may 5 comex did away with price limits on the two contracts following spot after a volatile market in silver futures at the end of april caused severe disruptions
they said brazil would likely resume interest payments by the banks fiscal year end on october 31 thus allowing banks to recoup their lost interest income
eastman kodak co to sell holdings in icn pharmaceuticals and viratek inc
production originally estimated at 15 mln tonnes a year will be 12 mln initially and is expected to begin in early 1990
the seamen said they were spurred to their decision after marines occupied the ship docemarte in santos harbour tuesday night
like other analysts healy sees gms share of the domestic car and truck market falling in 1987
ag edwards inc age 4th qtr feb 28 net
and while consumers press for the price adjustment to be automatic producers have resisted reducing the role of the international rubber organization council in the price adjustment procedure
coastal bancorp csbk sets quarterly
president reagans authority to negotiate a new gatt agreement would be extended through january 1993 and authority to negotiate a free trade zone with canada would be extended through january 3 1991
a deutsche bank ag dbkgf spokesman said it is cutting leading savings rate for private customers on a regional basis by 05 percentage points to two pct
johnson said that cargill has been dealing with a two pct spread in certificate transactions and that this is within the normal grain marketing levels
he said the agreement may have to be re examined
however the suggestion still recommended a merger between the two consortia tendering for contracts and would give cable a five pct stake more than the three pct originally proposed but less than the 20 pct it holds in its original venture he said
the planned issue will be of two fixed rate tranches of the 850 pct 1997 and the 850 pct 2002 stock and one tranche of the 1999 variable rate stock
the us administration has already distanced itself from the bill
the oecd said that the economy should pick up next year with the gross national product rising by two pct in real terms
under the present contract petromin can automatically cut supplies up to 10 pct of the contractual volume
we are free to do it so maybe on monday we will issue the first just to see how the system functions
baldwin piano bpao files for secondary
on thursday the company said it was prepared to bid 33 dlrs a share up from its original 27 dlrs a share offer
if it decides to keep the mine open it would take four or five months before it could resume full production
the three locals cover about 2600 production and maintenance workers at comincos trail smelter and kimberley bc lead zinc mine
mees said government approval for the export pipeline followed a visit to aden by a high ranking delegation from the soviet union which will help south yemen construct the line the engineering studies for the pipeline are nearly finished and construction is expected to start early next year the industry newsletter said
terms were not disclosed
it was one of the four swedish banks which last month agreed to advance the group 110 mln crowns to solve its immediate liquidity problems
merrill lynch is a member of the london stock exchange in addition to its us and other international investment activities
during the afternoon the bank bought 22 mln stg of band two bank bills at 9 13 16 pct and two mln stg of local authority bills plus 44 mln stg of bank bills in band four at 9 11 16 pct
south africa banks agree on debt repayment plan
a meeting of the national coffee policy council is set for thursday march 19 and dauster will almost certainly explain his plan to members then before announcing any new measures
weve created a way to set a real value for them one morgan official said
it said a january survey put the total area under sugarcane at 545528 hectares down from 556860 hectares the previous year
the selling concession is 1 1 8 pct while management and underwriting combined pays 1 2 pct
the department said no domestic poultry are involved in the outbreak
pioneer sugar was expected to recommend acceptance of the bid through which csr would benefit from the bottoming out of a cyclical downturn in sugar prices
hall fbh earnings report qualified
it said the other loan is 264 mln dlrs in support of project to provide affordable housing urban infrastructure and social services to low income families in slum and squatter areas
cbi survey points to surge in uk output
possible reserves of 75000 tonnes grading 038 ounce gold per ton at the break zone would extend mine life by a year with considerable potential for development of further oxide ore reserves at the deposit they said
the dollar was also supported by a major electrical consumer goods company which was a speculative dollar buyer at around 14525 yen they added
among the firms to be sold are martins and gordon drummond pharmacies the 7 eleven convenience stores speciality us food importer richter brothers and the health products company natures best dsl
treasury secretary james baker said that brazil should come up with a new economic plan if it hopes to get additional assistance from commercial banks and others
the study said a secondary market could be established with virtually no federal money if the government provided a guarantee of 90 pct of the farm loans but a private co insurance plan guaranteed the first 10 pct of any losses
we believe the kuwaitis have also approached the soviet union about the possibility of using soviet tankers to ship their oil one of the officials told 
union pacific resources formerly champlin petroleum said it raised posted prices for crude oil by 50 cts a barrel effective yesterday
freight costs are higher for cargoes coming from the gulf than southeast asia due to a longer haul and war risk insurance payments japanese customers will visit saudi arabia this month to finalise their separate contract talks now focusing on contractual period and volume which could be very similar to current levels the sources said
finance ministers from major industrial nations should hold a special meeting to deal with the us dollars sharp decline helmut geiger president of the west german savings bank association said
a jacobs spokesman declined to specify the size of the majority stake and said jacobs had not decided what it would do about acquiring the outstanding shares
some economists argued that the because the gain in total sales excluding autos also followed a decline in january the strength in the february report is less than impressive
the treasurys account stood at 81 billion guilders the weekly return showed
shr 12 cts vs 10 cts net 613986 vs 534093 revs 9494570 vs 7591564 year shr 41 cts vs 59 cts net 2151130 vs 3111317 revs 359 mln vs 337 mln note 1986 net includes gains from discontinued operations equal to three cts compared with nine cts in 1985
uk money market gets 350 mln stg afternoon help
included in the 1986 numbers are a 564 mln dlr gain from sale of the different businesses a 270 mln dlr pension credit and a charge of 473 mln dlrs from the purchase of long term debt at a premium under the recapitalization
hoechst celanese sends report on new facilities
on the contrary a slight rise in exports can be expected the institute said past experience has shown west german exporters will move to counterbalance currency factors by cutting costs trying to penetrate new markets and adjusting their product ranges
lawson says us west german row was unnecessary
jp industries jpi confirms proposal
french employers chief sees hope for growth
earlier today london traders had expected the subsidy for the current season whites campaign for licences to end aug to be more than 4500 ecus per 100 kilos but paris traders were more precise by forecasting a rebate level of 4575 to 460 ecus
sumita said the bank will take adequate measures including market intervention if necessary in line with the february 22 paris agreement by six major industrial nations
on the fiscal side yeutter said the budget deficit is still our biggest problem and there has not been enough progress toward reducing that deficit
central bank sources said some commercial banks anticipating such a central bank decision have been converting their foreign currencies into baht this week and lending the additional funds to the bank of thailands short term loan repurchase facility
on station illinois river south chicago 135 pct bid 140 offered no comparison
the borrower will be able to issue paper with maturities of seven to 365 days in other avialable currencies such as european currency units
professional tax preparers accounted for just over 43 million forms according to the irs
it added that the airline last year also saw aviation fuel prices fall to an average 459 dlrs a gallon from 676 dlrs in 1985
carmel container systems ltd kml year oper net
the company said the new stock is intended to enhance utilicorps ability to carry out future financings investments acquisitions or for other corporate purposes
the minimum price fluctuation for the propane futures contract will be 001 cent per gallon or 420 dlrs a barrel according to the exchange
nikkos brusca projects rates of 825 pct for bonds 615 pct for funds and 775 pct for the prime rate
southington savings bank ssbb 1st qtr net
share amts relfect dividend requirements
a study commissioned by one of the main supporters of the secondary market idea the american council of life insurers concludes the farm credit systems market share in rural lending would fall if a secondary market were established
they said a record portion of state investment planned for the entire 1987 88 fiscal year will take place in the first half probably over 80 pct
others who one month ago claimed a deal was not possible are saying they would not rule one out
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
fitzwater said reagans strong feelings against a tax hike included opposition to an oil import fee
but he added several issues including the identity of the ultimate buyers of the shares had to be resolved before the pcgg gave its approval to the sale
the issue was selling at or just below issue price
after mondays talks the us and west german governments made it clear that the louvre currency accord pieced together in paris in february was still in effect
cpi corp said it expects to post higher sales and earnings for its fiscal year ended february 7 when it officially reports results in three weeks
shr 15 cts vs nine cts net 528000 vs 374000 revs not given year shr 125 dlrs vs 42 cts net 2853000 vs 1579000 revs 553 mln vs 468 mln note shr after preferred dividends
zccm officials declined to comment on the report but standwell mapara general manager of the tanzania zambia railway authority tazara told recently virtually all zambian mineral exports had been channelled along the tazara line to dar es salaam for the last three months
zimbabwes beef exports to the european community ec potentially worth 70 mln zimbabwean dlrs this year may be jeopardised by an outbreak of foot and mouth disease in southwestern matabeleland industry sources said
ford motor f distributes profit sharing
growing protectionism and declining commodity prices had caused a major deterioration in the export earnings of all developing countries he said in an opening speech to a meeting of african trade ministers in addis ababa
the officials told reporters industrial production down 05 pct in january from december is likely to turn positive in february and to rise thereafter raising hopes for a brighter economic outlook
residential mortgage rmi sells cmos
allied signal inc said it completed the sale seven businesses in its electronics and instrumentation sector for 18 billion dlrs in cash and in debt assumed by the purchasers
liro said the economy is showing moderate growth and does not require immediate policy easing and the money aggregates may well end march at the bottom of their target ranges
the usda official would not speculate on when the soviets would enter the us market again
shr 62 cts vs 52 cts net 1420 mln vs 1230 mln sales 100 billion vs 8650 mln
this means oil related expenditure in the uk or on the uk continental shelf which has not become allowable in a particular field within three years of being incurred to be allowed against prt liability in any oil field the inland revenue said
the facility will allow argyll to issue sterling acceptances and multi currency advances and domestic sterling advances
lanston and co
fieldcrest cannon inc said it filed with the securities and exchange commission a registration statement covering a 100 mln dlr issue of convertible subordinated debentures
indonesias agriculture sector will grow by just 10 pct in calendar 1987 against an estimated 24 pct in 1986 as the production of some commodities stagnates or declines the us embassy said in a report
thomson mckinnon mortgage assets corp a unit of thomson mckinnon inc is offering 100 mln dlrs of collateralized mortgage obligations in three tranches that include floating rate and inverse floating rate cmos
denmark in 600 mln crown eurobond deal
rohr rhr sells debentures at 9 1 4 pct
southwest said the houston properties made up about 10 pct of its current value equity as of december 31 of 1420 dlrs per share down from 1668 dlrs a year before
usda estimates that it costs the government about 75 cents to store handle and transport each bushel of commodity put in government storage
on january 11 the mark was revalued by three pct against the french franc relieving pressure on the french currency
the transaction is guaranteed by chrysler finance corp
it said the acquisition brings its ownership in morning to over 94 pct and it intends to acquire the remaining interests before mid year
louis 303 303 amarillo lubbock 264 hrw hrs srw sww durum lou
i am more impressed with whats happening at ibm than i have been in a long time said painewebber analyst stephen smith
one offer for srw wheat on call session no milo
the company said proceeds will be used to repay bank debt and for working capital
the european investment bank eib is issuing a 40 billion yen eurobond due may 6 1994 paying 4 5 8 pct and priced at 101 1 2 lead nomura international ltd said
but he said that he was confident banks would make substantial new lending to the major debtors this year
bank negara said although malaysias net borrowing dropped in 1986 its external debt rose due to the 30 pct appreciation of the basket of currencies against which the ringgit is pegged
that could send prices 50 cts to a dollar higher he added
there are also signs of some opec crudes being sold in the spot market at below opec official prices traders said
there are indications the bonn government will also reject the proposed tax wagner said
deregulation is taking place everywhere
azure ventures ltd said it signed a letter of intent to acquire john paul richards and associates inc
the company said it is actively negotiating with lenders for concessions on a restructuring plan proposed march four calling for allis chalmers to divest itself of all businesses except the american air filter co
a bank of japan official also said the central bank will renew its call on financial institutions to moderate excessive loans for the purpose of land and securities investment as such investments threaten to cause inflation
schwab completes purchase of schwab and co
sanford corp sanf 1st qtr feb 28 net
canadian foreign reserves surge in month
it would be uncharacteristic of us to make an offer now under the nonbinding pact moscow has agreed to purchase a minimum of nine mln tonnes of us grain per year
the international cocoa organization icco buffer stock working group began examining a draft proposal for buffer stock rules this afternoon delegates said
non callable to maturity the issue is rated aa 3 by moodys investors service inc and aa by standard and poors corp
it revised its forecast for 1988 gdp growth to 17 pct from 16 pct in its last autumn review
of the imports in the january november period those from cuba were up to 381 mln tonnes from 365 mln and from thailand to 292808 tonnes from 22800
funds traded between five and 6 3 4 pct
phillips p raises crude oil prices
the bond is on sale until march 19 with payment due april 10
canadian narrowly defined money supply m 1 rose 217 mln dlrs to 3280 billion dlrs in week ended february 25 bank of canada said
the peking government faces another major obstacle in its efforts to ensure chinas people get enough grain to eat
he also said monier will not now proceed with the one for two bonus issue announced with its interim results on march 19 in view of the proposed takeover bids
during the same period imports of agricultural products dropped 131 pct to 312 billion guilders from 358 billion
lowrance electronics leix sees orders off
the company which produces lawn mowers and bicycles said earnings are ahead of last year due to increased lawn and garden shipments in january and february and a record setting pace in march
bankers trust new york corp filed with the securities and exchange commission for a shelf offering of up to 400 mln dlrs of subordinated debentures on terms to be set at the time of sale
hanson said kaiser cement is now an indirect wholly owned unit of hanson trust and forms part of its building products group
gateway medical systems inc said it has withdrawn its may 27 offer to acquire westworld community healthcare inc the company said it remains interested in acquiring the westworlds hospitals and will attempt to continue negotiations with westworld
said it will sell its 49 pct holding in canadian building firm canadian foundation company ltd to rival banister continental ltd a company spokeswoman told skanska will receive banister shares as payment giving the swedish group 15 pct of the stock in the expanded banister firm
mexico and canada along with the european community brought the dispute to the gatt last year
it said sales fell about 10 pct from the year earlier 1049 mln dlrs
it makes no sense to abandon this policy now when exploration is at its lowest level for many years and when australias oil self sufficency is expected to decline rapidly massy green said
us soybean world market share has declined 35 pct in volume and 40 pct in value since 1982 primarily as a result of ec policies adams added
now its nic bashing said robert chandross of lloyds bank plc
that is really a strong rationale why we need a new gatt round he said
it said the exercise price of the warrants may be reduced and the number of shares increased in certain circumstances
the wholesale unit is a major distributor of tobacco confectionary and other products through 34 wholesale and 28 vending branches in canada
new york state electric gas corp nge 3rd qtr
us officials said the most likely move against japan would involve duties on semiconductor based goods such as televisions video cassette recorders and computers
this weeks average yield compares with 609 pct a week ago
supermarkets general corp said it received an unsolicited proposal from a third party to acquire the company at 4175 dlrs per share in cash
the bank of england said it provided the money market with 53 mln stg assistance in the morning session
timber realization a limited partnership formed to dispose of timberlands and related properties transferred to it by the masonite corp said that when this sale is completed the partnership will have received about 152 mln dlrs in cash and notes from the sale of its properties since december 23 1986
some 750 mln marks will be offered for immediate sale with 75 mln held back for market regulation and the remaining 75 mln placed with the railways own bank
talks between cargill uk ltds management and unions aimed at ending the prolonged strike at its seaforth oilseed processing plant will resume this afternoon a company spokesman said
several highly indebted nations have made great efforts to meet their debt payments especially latin american countries steckhan said
moodys cited fleets announced merger with norstar bancorp inc nor the rating agency said it will examine the degree to which the combined entity would have a more diversified earnings stream balanced funding structure and enhanced equity base
american motorss ccc preferred stock rating was also added to creditwatch but with positive implications
moodys said the substantial new capital committed to these markets and the size of direct competitors increased the uncertainty of future performance
turkeys gross national product grew an estimated 80 pct in 1986 at fixed 1968 prices compared with 51 pct in 1985 the state statistics institute said
bank of japan governor satoshi sumita had previously expressed concern about excessive investment in land and securities resulting partly from eased credit conditions
microsemi mscco acquires hybrid components
he told reporters after his speech that he had no information on the banks response to the philippines revised proposal based on partial payment of interest with investment notes instead of cash
during 1988 and 1989 the cost escalation of the first half of the 1980s will reverse
the price of quicksilver on the london metal exchange hovered around 200 dlrs this week
the defendants in the suit are wpp group and its units and peters who until january 29 was a director of j
this compares with the banks revised estimate of a 750 mln stg shortage in the system today
on prices the survey showed that 62 pct of companies expect average prices at which domestic orders are booked will remain unchanged in the coming four months up from 57 pct in february
1987 3rd qtr also includes an extraordinary 114 mln dlrs or 45 cts a share for planned redemtion of companys 16 1 4 pct subordinated debentures
canterra energy ltd said it will drill an exploratory well on the scotian shelf about 280 kilometers east southeast of halifax nova scotia
sir roy denman head of the ec delegation in washington said pending us trade legislation is a misguided attempt to deal with the nations trade deficit and will spark retaliation if passed in its present form
including acceptances loans fell 390 mln dlrs to 6474 billion
the notes offered in us capital markets by salomon brothers inc are due april 14 1989 and are for settlement april 14 with the first interest payment being made oct 14
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
us personal income rose 09 pct in february
that budget deficit has meant that the us is buying more imports
pepco pom two mths feb 28 net
scott and stringfellow financial inc said it declared its first quarterly dividend of three cents per share payable april 15 to shareholders of record april one
redland already holds about 49 pct of moniers 15628 mln issued shares he said in a brief notice to the australian stock exchange
an issue of about 125 mln in convertible bonds to be quoted on the luxembourg stock exchange would be offered in europe through a syndicate led by banque paribas capital markets ltd swiss bank corp international ltd and sg warburg securities bell group said in a statement
we dont have all the details a norfolk southern spokesman said
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
shr loss 14 cts vs loss 31 cts net loss 144522 vs loss 334890 revs 10019828 vs 9021835 year shr loss 16 cts vs profit 10 cts net loss 170177 vs profit 105090 revs 368 mln vs 361 mln avg shrs 1068850 vs 1074624 note 1985 period ended december 28 1985 earnings include loss in each period from discontinued operations of 184777 dlrs
the selling concession is 1 1 8 pct while management and underwriting combined pays 5 8 pct
encor will use proceeds from the debenture offer to retire bank debt incurred in the aberford deal it said
us corn acreage with the exception of 1983 has been in the low to mid 80 mln acre range for the past 10 years
koninklijke nederlandse papierfabrieken knpnas 
copperweld steel co cpsl a subsidiary of csc industries inc said it will increase from market price levels its bar semi finished and leaded products effective july one
before the 337000 gain in february non farm payroll employment i would have looked for a discount rate cut in march he said
in his speech focusing on current free trade talks between the us and canada reuber said failure to reach a deal would not represent a calamity for canada but could lower canadas standard of living raise unemployment and reduce the countrys world trading influence
texas american said regulatory approval ofthe transaction is expected in december and the sale will close shortly thereafter
other singapore oil companies announced yesterday that they would revise their pump prices effective today
the two south american countries share of the west german market rose to 932 pct from 802 pct because imports from ecuador fell to 21110 tonnes in 1986 from 51722 in 1985
the stock exchange of singapore has decided to discontinue a 150 mln dlr standby credit facility for broking firms facing financial problems because of the failure of pan electric industries ltd an exchange statement said
shr 67 cts vs 62 cts net 9160000 vs 7722000 assets 45 billion vs four billion note shr and net data are before accounting change announced in 1986 which added 30 cts a share to year ago 1st qtr results
mti said consumer goods will also become more expensive with the price of refrigerators rising some five pct
us assistant trade representative suzanne earley replied were not going to let japan off the hook or korea she noted trade representative clayton yeutter met with a senior korean official last week on the beef issue and that yeutter and agriculture secretary richard lyng will visit tokyo in april for discussions on farm trade issues
shr loss 198 dlrs vs loss 524 dlrs net loss 233 mln vs loss 448 mln revs 136 mln vs 296 mln note 1986 net includes nine mln dlr extraordinary loss for oil and gas writedowns and unrealized foreign exchange losses vs yr ago loss of 325 mln dlrs
the errors and omissions account left a surplus of 840 mln dlrs in february against deficits of 220 mln in january and 25 mln in february 1986
tierco group inc said it sold at par to the kuwait real estate investment and management co its 10 mln dlrs 75
payment date is april 30 and there is a long first coupon
if they want to expand us exports the last thing they want to do is hit the makers of the final products because that hurts the final market edwards said
egypt cancels wheat tender
zuckerman said chrysler sold the corporate bonds at about 16 pct above yesterdays closing prices for these issues
currently it is halved between importers and exporters and the soviet union has a 30 pct share of the importer half
the icc had ordered the holding company to divest one or the other railroad but stayed its ruling pending a decision on the request for reconsideration
corn guesses ranged from 20 mln to 25 mln bushels compared with 219 mln bushels a week ago and 282 mln a year ago
according to the terms of the deal it said seashores 61000 shares will be exchanged for 98 mln dlrs of new hampshire savings stock
owens corning fiberglas corp said it has completed the previously announced sale of its three foam products plants to atlas roofing corp for undisclosed terms
the four years mature march 31 1991 with the seven years due april 15 1994
azzam said gulf states had been making greater use of short term money market instruments and banks in the region had floated various euronotes and underwriting facilities
walter reade operates 11 screens in eight manhattan locations
southtrust sotr to acquire four banks
domtar inc said it plans a two for one stock split to take effect may 14
overland express inc over year loss
the central government does not have enough money to meet their needs
the official tanjug news agency said the agreement was reached in paris today in talks between yugoslav delegation headed by finance minister svetozar rikanovic and 16 western creditor countries but it gave no precise figures for the amount to be rescheduled
despite businessmens ingenuity in finding ways around any artificial controls regulation of supply and demand should bring positive results watanabe said
keycorp key agrees to acquire utah bank
brazils attempt to seek better terms for paying off its 109 billion dlr foreign debt is responsible and modest a former chairman of president reagans council of economic advisers said
but processors will start halting production in the next few weeks it they continue to face unprofitable margins they added
the council meeting which is expected to conclude two weeks of sessions involving various working groups and the council itself was continuing the delegates said
includes tax benefit for prior qtr of approximately 150000 of which 140000 relates to a lower effective tax rate based on operating results for the year as a whole
bruce ginn cattle analyst for the helming group formerly lbas said the lighter cattle are being placed on feed mainly because of two factors low grain prices and higher live cattle prices
supermarkets general corp 4th qtr 50 cts vs 52 cts
there should be a split prime for a while with some posting a 7 1 2 pct rate and others 7 3 4 pct said david jones of aubrey g
stoltenberg referred to a statement released after mondays meeting which said continuing cooperation was aimed at promoting currency stability at current levels
according to the complaint soviet mercury sales in the ec had risen from zero in recent years to 100 tonnes between august and october last year and threaten to capture 25 pct of the ec market if they continue at the same pace
manila will pay foreign banks 37 mln dlrs a year in 1987 1988 and 1989 representing four pct of a 925 mln dlr loan signed in 1985
monsanto mtc to acquire rhone poulenc assets
great western financial gwf unit buys banks
chrysler c values amc amo at 757 mln dlrs
the tuesday peak included about 100 mln dlrs of transportation float in mid and south atlantic states
said it has increased its primary aluminum prices by two cents a lb effective with new orders as of march 25 and all shipments beginning may 1
oper shr 16 cts vs nine cts oper net 2281000 vs 1319000 revs not given year oper shr 13 cts vs six cts oper net 2635000 vs 1775000 revs 319 mln vs 317 mln note 1986 qtr excludes extraordinary loss of 1155000 dlrs or nine cts share versus gain of 607000 dlrs or five cts shr note continued 1986 year excludes extraordinary loss of 3101000 dlrs or 25 cts share versus extraordinary loss of 265000 dlrs or two cts share
the loans expected in the baker plan have not materialized and debtors have been forced to browbeat reluctant banks
he said in the case of textiles import restrictions however retaliation would be against us textile exports
nihon keizai said japans plan resulted from worries about mounting trade tension with the us at the gatt talks japan will try to persuade the us that its rice policy is justified it said
earnings from writing back provisions 3265 mln marks vs 656 mln
great american said regulatory authorities are not requiring an adjustment of the previously reported financial results for great american for 1986
but kuroda said he is taking no new proposals
ivory coast is the worlds largest cocoa producer
in its complaint bancroft said the tender offer materials and letters to shareholders are false and misleading and that the tender offer violates the investment company act of 1940
deutsch suedamerikanische bank welcomed mexico joining the general agreement on tariffs and trade gatt in mid 1986 which it saw as an effort to integrate the country to a larger extent into the world economy
delegates estimate that this will take 12 to 14 months from now
series b preferred shareholders had previously rejected carlings proposal to redeem the shares and a series a preferred shareholders meeting was adjourned to june 12
economic spotlight telecom is key japan ministry
allied bancshares inc albn lost 176 mln dlrs mcorp m lost 821 mln dlrs interfirst lost 3265 mln dlrs and first city bancorporation fbt which is actively seeking a merger or other form of new capital lost 4020 mln dlrs
local and foreign bankers said the june 2 measures had drastically limited their ability to lend foreign exchange to importers and exporters
iadb dispute highlights latin debt conflicts
existing credit lines were used only to a small extent and the parent company had been granted a new credit line of 200 mln francs from a consortium of swiss banks that would cover most of the loans falling due in 1987
the package which was agreed in principle with the committee last october 16 is built on a core loan of six billion dlrs of which five billion dlrs will be lent for 12 years with five years grace
3rd qtr net shr 22 cts vs 54 cts net 366497 vs 877148 nine mths shr 70 cts vs 117 dlrs net 1185352 vs 1924255
they are using force and we are using peaceful methods port sources said only two brazilian ships in santos the docemarte and the henrique leal were working
mthly div 45 cts vs 45 cts prior pay march 13 record march two
ortiz mena said it is in the interest of the creditors not only the debtors to push forward the development process in latin america and that has happened he added the only problem is the resources have not been enough turning to brazil whose growth rate he predicted will decline slightly this year from 1986 ortiz mena said the countrys moratorium was the right action in order to avert a long term default
the company said financial advisor goldman sachs and co determined the price to be inadequate
bp capital bv plans dual currency bond issue
markets have become highly optimistic about the chances of a conservative party victory in any early general election and disappointment if prime minister margaret thatcher decides to hold back could lead to a decline in the pound and a setback for bonds fellner said
the systems have about 7500 subscribers
the us agriculture department projected an average yield of 150 gallons of frozen concentrated orange juice per box 420 degree brix equivalent from floridas 1986 87 crop
losses include pre tax restructuring charges of 286 mln dlrs in both 1986 periods vs 47 mln dlrs in both 1985 periods 1986 year loss also includes charge of about 100 mln dlrs for amortization of good will
the government has already announced financial aid for the milk sector and it was not clear how much of the package announced today was new aid lacombe said
the export price index in february fell 07 pct from a month earlier reflecting price cuts in export products like cars and precision instruments due to severe foreign competition
as reported separately soon after announcing the delhi sale csr launched a takeover bid for the 6826 pct of pioneer sugar mills ltd that it does not already hold valuing its entire issued capital at 2196 mln dlrs
instead they will be paid in an equivalent amount of zero coupon westpac perpetual floating rate notes
asbestec to buy contractor receives contract
brougher insurance group inc bigi 4th qtr loss
current season cumulative movement was 79516753 gallons versus 76919119 last year
sheikh ali denied that kuwait was over producing
it gave no reason for the changes in the government of the arab baath socialist party which has ruled iraq since a revolution in 1968
conable said the world bank which granted indonesia a 300 mln dlr loan last month to help its balance of payments was prepared to back jakarta in taking the right steps to adjust to lower oil and primary commodity prices
it said its stock will no longer trade on the amex
hokkaido bank issues 30 mln dlr convertible bond
he said bolivia would not bargain with creditor banks over the price to paid for the debt paper they hold and would make a single non negotiable offer
japanese officials and bundesbank president karl otto poehl did not appear to have left the building at the end of earlier group of five talks which broke up around 2 pm local time 1800 gmt there was no sign however of the italian delegation whose position was thrown into question this morning by the resignation of the christian democratic wing of italys socialist led government
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
darman called for a top level negotiation between the white house and congress on a budget compromise that would include asset sales some excise taxes cuts in middle class entitlement programs a reasonable steady rate of growth in defense and reform of the budget process
shr loss five cts vs profit 72 cts net loss 79069 vs profit 829737 revs 144 mln vs 141 mln note1985 includes extraordainy credit of 11 cts
the federal reserve is expected to intervene in the government securities market to add reserves via two to 25 billion dlrs of customer repurchase agreements economists said
hawker siddeley canada inc said that due to poor market conditions for railway freight car manufacturing it plans to sell its trenton works division in trenton nova scotia
sulpetro also recorded a writeoff of deferred charges amounting to 670 mln dlrs a loss of 225 mln dlrs on the disposal of all properties in the united kingdom and an equity loss of 212 mln dlrs from affiliate sulbath exploration ltd
the companies said they had bought their 49 pct stake in ultramar for a total of 50 mln nz dlrs through a joint venture company formed for that purpose in october
consumer goods such as fashion and wine as well as traditional industrial exports will be promoted
petro canada a state owned oil company raised the posting prices of sweet and sour crude oils 32 cts canadian per barrel effective today the company said
it said in a statement the santos bid was below the underlying value of the shares as assessed by macquarie hill samuel at between 408 dlrs and 472
oper shr four cts vs three cts oper net 340036 vs 223297 revs 111 mln vs 9514115 avg shrs 8926909 vs 7672146 note net excludes tax credits of 252160 dlrs vs 152717 dlrs
he said theres relatively little that congress can do to legislate a solution to the trade problem protectionist legislation will only provoke retaliation by us trading partners yeutter said
they probably will close the toledo plant and move jeep production to canada ronald glantz of montgomery securities said that at the very least the new owner of the toledo plant would be able to wring concessions from the united automobile workers union local representing jeep workers
ich corps stock continued under pressure because of lower earnings expectations wall street analysts said
cattle slaughter is guesstimated at about 128000 to 131000 head versus 129000 week ago and 127000 a year ago
japans ruling liberal democratic party ldp will call for adequate and flexible management of the nations monetary polices in its plan to expand domestic demand a senior ldp official told 
book value at the time will determine the moves pricing honeywell said
allied lyons had first half profit of 1480 mln stg up from 1226 mln stg in the prior year
the fed noted that after trading steadily throughout november and the first half of december the dollar moved sharply lower until the end of january
based on past relationships that gain is consistent with stepped up growth in real gnp during the first half of 1987 baldrige said
the commodity credit corporation ccc has authorized 250 mln dlrs in credit guarantees to north yemen to cover purchases of us wheat under the intermediate export credit guarantee program gsm 103 the us agriculture department said
american petrofina inc said its auditor peat marwick mitchell and co has qualified its opinion of the companys annual report because of the unknown impact of the us energy departments investigation into crude oil trading activities which occurred during the 1979 1981 period
rbd palm oil may 320
the price reduction today was made in the light of falling oil product prices and a weak crude oil market a company spokeswoman said
shr 28 cts vs 22 cts net 206 mln vs 161 mln sales 2380 mln vs 1888 mln
lost exports of 185000 bpd are costing it 90 mln dlrs per month espinosa said
pentland said that as soon as the date and price of the offering have been determined it will release further details
donald trump and interstate properties said they were holding preliminary discussions regarding a possible joint acquisition of alexanders inc at 47 dlrs per share
shr six cts vs three cts net 17 mln vs 31 mln revs 1873 mln vs 1297 mln noteincrease in earnings due to elimination of preferred dividend requirements
finance secretary jaime ongpin said philippine investment notes pins to be offered to commercial bank creditors as part of the countrys 132 billion dlr debt rescheduling would revive the baker plan
headquartered in somerset nj pms reported over 70 mln dlrs in revenues in its last fiscal year which ended may 1987
shr 112 dlrs vs 127 dlrs net 15000000 vs 11900000 avg shrs 9642403 vs 8322245 loans 457 billion vs 329 billion deposits 680 billion vs 475 billion assets 775 billion vs 537 billion
the federal bureau of statistics has not yet released last months import and export figures
in a filing with the securities and exchange commission charter oak said it bought 180000 facet common shares on june 12 at 1825 dlrs each
us 4 year note average yield 679 pct stop 679 pct awarded at high yield 95 pct
biw cable systems inc biwc 4th qtr loss
januarys bonds were oversubscribed as their interest rate was two points above savings deposit rates and were the first bonds that could be exchanged or converted before maturity
kraft inc said it completed the acquisition of holleb and co a foodservice distributor based in bensenville ill
it said completion is expected by july 31
thai rice exports fall in week to april 7
canadian liquid plus short term assets rose 20 mln dlrs to 3796 billion dlrs and total canadian dollar major assets of the chartered banks fell 753 mln dlrs to 22905 billion dlrs
at home commerzbank would probably bring the automotive supply group boge and clothing manufacturer ahlers to a stock exchange flotation in the first half of this year
ico producers to present new coffee proposal
non opec egypt has pledged to restrain output to support opecs moves to boost oil prices
colombia coffee registrations remain open
since then 39 foreign banks have come into the market and they now control about 15 pct of the systems lending assets
he said banks had shown willingness to consider new loans to venezuela a fundamental achievement in the new accord
1986 ended dec 31 and 1985 ended nov 30
nippon signal co ltd is planning to issue 50 mln swiss franc notes with warrants lead manager morgan stanley and co inc said
prior to the split the company had paid 31 cts quarterly
but only 1699 mln ringgit in shares was taken up by shareholders mainly local indian and malay businessmen and the indian government
the strike has caused no serious dislocation he said
this made it world market leader with a share of 37 pct in 1986 pope said
president reagan said he would veto a house passed trade bill requiring mandatory retaliation for unfair trade if it reached its desk in its present form
economists said that since the large devaluation of the zaire currency in september 1983 the country suffered a net outflow of 830 mln dlrs each year
although prices have long since come down to a point where export controls could be reintroduced producers and consumers at the 75 member ico have not been able to agree on new guidelines
american express overseas credit corp is issuing a 50 mln new zealand dlr bond due april 27 1990 carrying a coupon of 18 pct and priced at 101 1 4 said hambros bank ltd as lead manager
the three year facility is half underwritten and half non underwritten
rowland
a nasty row is also looming over 16 billion dlrs of trade and money market lines which brazil froze last month
exchange rate bill clears us house panel
the bank cannot maintain an adequate lending level unless it is given increased resources iadb president antonio ortiz mena told a press conference
the legislation discussed today must not be seen as an isolated measure but as a step in an international process norways foreign minister thorvald stoltenberg told parliament
dome petroleum ltd year oper shr loss 694 dlrs vs loss two cts
fox research develops makes and markets local area networks for personal computers
spreads against the mark remained around 10 basis points with some banks quoting only five point spreads
newscope resources ltd year loss
results from these had been taken only partly into the fourth quarter of that year but fully included in 1986 data
but it will quickly become apparent that colombia does not intend to go over the top arango said in an interview
during february and the early part of march this speculation caused importers to bring forward their payments and exporters to delay as long as possible the inward remittance of export receipts resulting in a significant slowdown in net foreign exchange inflows he added
computrac llb sees lower first quarter net
indonesias revenue from oil exports was cut in half last year
it said it might take legal action or seek the support of shareholders in calling a special meeting to replace the board and consider other proposals
the exchange statement said any such proposals other than the three will not be considered until a general principle has been established by the stock exchange after consultation with the securities commission an official of the securities commissioners office told the decision to bar the new share issues was made by the exchange adding the commissioner is closely watching developments
the project also includes construction of liquified petroleum gas lpg storage tanks at santa cruz additional crude oil storage at both ends of the pipeline an ammonia complex at lazaro cardenas on the pacific coast and expansion of the infrastructure of the port of salina cruz ayala said
i think there is no question that the private banks are aware of the views of the us government i am confident they will take those views into account when they make their own decisions bosworth said
i intend to visit brussels and talk to whoever is putting up this devilish scheme to impoverish third world countries like the philippines romero said in an interview
the us gross national product after removing the impact of inflation increased at a revised annual rate of 11 pct in the fourth quarter the commerce department said
sept 30 shr 44 cts net 905000 vs 631000 six months shr 88 cts net 1793000 vs 1378000 assets 221 mln vs 2232 mln deposits 1864 mln vs 1898 mln loans 1765 mln vs7 mln
lending by the world bank and its soft loan arm the international development agency ida to china is expected to almost double to about two billion dlrs by 1989 90 from the levels of 1984 to 1986 foreign bankers told 
gros said brazil has not submitted specific proposals to creditors and instead hopes that proposals would come through bilateral negotiations
redstones company owns 196 pct ov viacoms 35 mln shares
under the plan steel output would remain subject to restrictive quotas and imports would be firmly controlled for years to come while steel firms undertook a massive slimming down operation to adjust capacity to lower demand
pubco pubo declares dividend right
exports in 1985 86 were 467 mln bags
it said the province chinas second largest gold producer after shandong plans to double gold output by 1990 from the 1986 level
progressive traded today at 442 rainbow at 366 and bil at 430 at the end of morning trading on the new zealand stock exchange
it was struck by a missile believed to be iranian in kuwaiti waters and was the first hit on a us flag commercial vessel in the seven year iran iraq war
shr 39 cts vs 134 dlrs net 1392000 vs 4686000 sales 819 mln vs 817 mln year shr 10 cts vs 97 cts net 355000 vs 3375000 sales 2704 mln vs 2728 mln note share adjusted for three pct stock dividend in january 1987
the spokesman reacting to irish and british press reports said he continues to be interested were the group to offer the brewery side of guinness for sale
economists said the fact that money stock growth remained stable last month was a success
no barges traded today on the st louis merchants exchange call session versus 29 yesterday
on friday petricioli said we will be a lot more expeditious in processing the requests of banks that have supported us the pressure on the us banks comes at a time when other major latin american debtors are in the process of crucial debt negotiations
adolfo hegewisch mexicos undersecretary for commerce confirmed that the swap program had been halted but he told a euromoney conference on debt equity swaps that mexico had been forced to act because it had been inundated with applications
indeed the falling dollar may have been a key topic at the meeting of the federal reserves policy making arm the federal open market committee this week analysts said
potomac electric power co pom jan net
net 31 mln vs not given note results not comparable with last year due to november 1986 acquisition of bank of british columbia
sources close to italys gruppo ferruzzi said european sugar france a french company owned by ferruzzi would take over control of cpc industrial division the corn wet milling business acquired by the italian group earlier this week from cpc international inc cpc the sources told that european sugar owned by ferruzzi subsidiary eridania zuccherifici nazionali spa erdimi planned to seek a listing on the paris bourse and make a share offering there
american business products inc abp 3rd qtr
payment date is april 8
shr 11 cts vs eight cts net 248000 vs 155000 revs 4385000 vs 2487000 year shr 36 cts vs 12 cts net 720000 vs 220000 revs 152 mln vs 9253000 note share adjusted for 10 pct stock dividend in april 1987
the diw institute said monetary policy should not be focused simply on growth of production potential
dealers said federal funds were trading at 6 1 16 pct when the fed began its temporary and indirect supply of reserves to the banking system
central bank governor arifin siregar said this week that indonesia faced very limited economic choices
during 1986 the company cut operating administrative and marketing expenses by 91 mln dlrs and reduced the number of workers by 16 pct to 12500
in addition i think we are giving some consideration to the possibility of extension into other states reuber said of harris although he added that any such move was unlikely this year
business sales dropped 45 pct in january the largest monthly sales drop on record
production at shells major refinery at strathcona alberta will be closed for about one month wish said
lynch said its proposed offer substantially improves over the offer of 1045 dlrs a share in cash and 400 dlrs of senior sinking fund debentures made by bcw acquisition inc formed by becors management
national weighted average market prices for the first five months of the season were 146 dlrs per bushel for corn and 133 dlrs per bushel for sorghum
princeville development corp pvdc year loss
kertosastro predicted that exports were unlikely to rise much from last years level of 320000 tonnes
on a marginal cost basis the companies that have made capital investment to handle lng import can operate profitably even in the current price environment frank spadine an energy economist with bankers trust said
people dont seem to have any firm conviction about the current strength of the economy or about the federal reserve doing anything said drexel burnham lambert analyst norman mains
ajinomoto co inc ajint said it will sign around end april to buy the 50 pct of knorr foods co ltd capitalised at four billion yen that it does not already own from its us partner cpc international inc ajinomoto will also acquire 50 pct each of cpcs two sales subsidiaries and six production units in hong kong the philippines singapore malaysia taiwan and thailand he said
trading on the london potato futures market will not be suspended richard harris chairman of the london potato futures association lpfa said in a statement to floor members
patten pat calls convertible debentures
new foreign shipbuilding orders received by japanese yards in february rose to six vessels totalling 329999 gross tons from three ships of 79499 tons in january the japan ship exporters association said
bel fuse inc belf 4th qtr net
he told a news conference wage pacts signed so far this year were not endangering the governments five pct inflation target
berliner bank ag berlin is issuing a 50 mln australian dlr eurobond due november 13 1990 paying 14 1 4 pct and priced at 101 1 2 pct lead manager banque paribas capital markets said
wallace computer services inc wcs 2nd qtr net
robert halmi inc rhi obtains revolving credit
the weekly us soybean crush rate was reported by the national soybean processors association this afternoon at 2178 mln bushels down from the 22 mln bushel plus rate seen over the past two months when crush margins surged to the best levels seen in over a year
bull and bear group inc bnbga year end dec 31
in addition homestake has two lines of credit totaling 150 mln dlrs which have not been drawn on and could be used to finance an acquisition he said
united industrial corp uic 4th qtr loss
union national corp said it signed a definitive agreement under which its first national bank and trust co of washington unit will merge with second national bank of masontown under a previously announced merger agreement each share of second nationals common stock will be converted into 25 shares of union national common
and it is possible that final data will show a larger draw particulary for march it said
the german dealer saw the dollar gradually appreciating to 187 marks broadly seen as its upper limit within the louvre accords supposed currency target range
the last poor temporao was in 1984 when prolonged drought and later pod rot cut production to 179 mln bags the lowest since 1974
the gain will come largely through increased imports to the united states he said
and us treasury secretary james bakers remarks at the weekend indicating the need to revise it do not herald a lower range for the dollar other senior officials from the bank of japan and finance ministry agreed in interviews
fees are 3 8 pct each for management and underwriting and 1 1 4 pct for selling
there was now a reasonable alignment of currencies and the uk government intended to keep sterling at about its present level he said
operating results exclude discontinued operations which had year loss of 364000 dlrs vs profit 313000 dlrs
lac said it does not expect the decision to affect earnings but 44 employees will be affected
peabody said the purchase includes seven underground mines and seven coal preparation plants currently operated by eastern as well as coal properties being mined by several contractors in west virginia
sumita says bank will intervene if necessary
one measure he said he favored would raise the depletion allowance to 275 pct on new oil and gas production as well as production using enhanced extraction methods
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
newhall resources nr qtly distribution
dairy farm said it will finance the acquisition by placing 89 mln shares with affiliate jardine strategic holdings ltd jarshk at 510 hk dlrs each for a total of 454 mln dlrs
from morgans point of view the repackaging does aid the present holders of the notes as well as offering value to a new class of investors
consumer goods prices rose slightly
yugoslavia seeks 600 mln ecu loan from ec
sdc sydney cost review may eliminate products
nippon steel to reduce dividend
shr three cts vs 11 cts net 126000 vs 434000 revs 840 mln vs 802 mln avg shrs 4948731 vs 3870511
it said the underwriters could repurchase up to 125 mln dlrs of the issue from great lakes group
the suit brought derivatively on behalf of harcourt and individually in british printings capacity as a substantial holder of harcourt common shares and 6 3 8 pct convertible debentures
they prefer peaceful amicable deals but now after some experience overseas japanese companies are acquainted with local practice he adds
corporate software inc csofo 3rd qtr net
carson pirie scott and co crn sets dividend
it surged last week amid indications washington was seeking a major rise in its value
between october 13 and 16 barris industries bought 1322200 shares of media general class a common stock 4250 dlrs to 4550 dlrs a share in open market transactions and another 12000 shares privately
aq is controlled by aloha chairman hung wo ching vice chairman sheridan cf ing and president a
frawley said the slackening in demand in the gulf had been offset by other arab countries around the mediterranean
in many ways the official response was mild
shr 136 dlrs vs 113 dlrs net 783 mln vs 516 mln avg shrs 53698000 vs 43449000 loans 3589 billion vs 2466 billion deposits 3171 billion vs 1964 billion assets 4398 billion vs 2860 billion
as part of the agreement pacific securities has agreed to place proceeds of the sale of the new securities on deposit at westpac and earnings from the deposit will be used to subsidise the payment of the additional interest to investors
he told a news conference the market continues to be stable despite all the military action in the gulf
analysts also said the company has strong defenses that would easily deter any suitor one of those being its problems combining its two railroad properties which hang in regulatory limbo
cable unimpressed by new japanese telecoms offer
jacobs suchard sees 100000 tonne cocoa surplus
wall street traders said the stock of outboard marine corp was rising on a rumor over a cable television program that outboard is a likely takeover target of sun chemical corp snl outboard was up 3 1 8 to 34 5 8
skandinaviska enskilda banken is issuing a 10 billion yen bond due october 23 1992 carrying a coupon of 4 1 2 pct and priced at 101 3 8 lead manager daiwa securities international europe ltd said
american aircraft corp said it has acquired a 51 pct interest in privately held hunter helicopter of nevada inc the purchase was made for an undisclosed amount of american aircraft stock the company said
in the fiscal 1986 fourth quarter the food processor reported earnings of 40 cts a share
but at the end of the day the attitude is going to be leave well alone and little or nothing is likely to be altered iran libya and saudi arabia are among those who also saw sales problems earlier this year traders say
cal fed income cfi buys two shopping centers
it is ludicrous for the nations of the world to plough immense amounts of financial resources into the production of items that nobody wants to buy he said
on november 2 a six nation working group will consider stock verification in papua new guinea
moodys investors service inc said it lowered the debt and preferred stock ratings of usx corp and its units
as such the remaining avenue for rationalising and consolidating the budget is through expenditure reductions he said
the new york brokerage firm of spear leeds and kellogg told the securities and exchange commission it had increased its preferred stock in allegheny international inc to 86 pct from 7 pct
these moves are in line with its long term strategy to put more emphasis on overseas investment management as opportunities at home are declining while the companys assets are growing
dataproducts dpc gets siemens contract
the cost of living index fell 014 pct to 43449 in january 1986
ec warns us and japan on trade tensions
salmonella which in extreme cases can cause death is found in approximately 37 pct of us broilers 12 pct of raw pork and three to five pct of raw beef houston said
although some say the franchise system might get in the way of a public offering jauppi says there are few obstacles to trading in car dealer shares
were soon going to be right back where we were in 1973 and 1979 anderson predicted that world oil prices would end 1987 at about 24 dlrs a barrel and continue a gradual climb
weiss said sales for 1987 have been strong following a net loss of 1548000 dlrs or 53 cts a share for the fourth quarter of fiscal 1986
this takes away the feds flexibility to ease but theres no reason to tighten
mike synar said today that while president reagan is ready to use military force to protect kuwait tankers in the gulf the united states is ill prepared at home to deal with a new energy crisis
a boti official said weve had worldwide interest in the deal she noted the tokyo stock market had experienced a mild correction at the beginning of the week but that bank stocks were hardly affected
central bank president jose luis machinea said argentina could adopt the same posture as brazil and suspend payments on its foreign debt if it failed to meet creditor bank demands
sweden announced its promised program of unilateral economic sanctions against south africa and gave firms an october deadline to cut trading links
the company also said all the courses of action under study reflect the continuing integral role of shearson lehman in american express worldwide financial services strategy
the airline did not quantify its performance in early 1987 but said it would take delivery of one boeing co ban 747 freighter and one boeing 747 300 passenger plane in september and november respectively after it took a 747 300 last month
hockin was responding to questions in the house of commons about why credit card rates which run as high as 28 pct per year remain high when other rates are falling
dividend pay may one record april 25
ec commission given plan to save steel industry
we dont have any particular changes in mind earlier today gaf announced that a 316 billion dlr offer was presented to the board of directors of the chicago based company
gartner group inc said it acquired sole ownership of the comtec market research program
the fso figures showed total exports from january 1 to march 23 valued at 87559 billion dinars compared with 66718 billion dinars in the same period last year
shr 80 cts vs 79 cts net 4212000 vs 4142000 sales 1111 mln vs 1071 mln
pyongyang and a group of tokyo based north korean businessmen plan to resurrect a north korean goldmine and boost annual output to almost one tonne within two years from 600 pounds at present said li sangsu a spokesman for unzan mine development co the venture partner
we are still consulting to see how the new measures will affect us but it is too early to say just how we shall fare under the new situation peter hansen director of operations and third in the zccm hierarchy told 
indonesia a country of 168 mln people has responded to the oil slump by cutting spending devaluing its currency by 31 pct and trying to boost exports while using foreign loans to bridge its deficit
us soybeans have competitive problem amstutz
earlier bank of new england reported first quarter net income not taking the merger into account rose to 104 dlrs from 83 cts a share
currently a simple majority can approve or disapprove loans giving the borrowing nations control of the purse strings and resulting in loan conditions too lax for washingtons taste
the bills are meant to soak up a projected money market surplus due largely to coupon and principle payments of a previously issued japanese national railways bond
but most analysts expect the more moderate producers such as saudi arabia to block any changes in policy
cargill uk strike talks to continue monday
that authority lapsed in september 1986
after a failed first attempt earlier this year rorers latest merger plan calls for a share swap worth about 720 mln dlrs
the philippines negotiations resumed in early march and agreement now appears to be very near mulford told a debt conference organized by the euromoney magazine
for all of last year it earned 2506000 dlrs on sales of 654 mln dlrs
well be back in position in first place within three years komatsu said in an interview
chicago pacific cpac upgraded by moodys
us agriculture secretary richard lyng said he was not sure a long term us soviet grain agreement would be worth extending when it expires next year
but it was being praised today by political analysts as a shrewd move which while advancing towards that aim could not be seized upon by opposition parties as overtly trying to bribe the electorate
la electricidad is seeking permission for a 50 pct increase in industrial and commercial tariffs which officials say would bring in an extra 13 billion bolivars this year
at present world oil prices and the current value of the australian dollar annual oil imports in 1992 93 would cost between 32 billion and 36 billion dlrs benbow said
shr 51 cts vs 44 cts net 4710000 vs 4086000 sales 1092 mln vs 982 mln nine mths shr 162 dlrs vs 139 dlrs net 150 mln vs 136 mln sales 3146 mln vs 2797 mln
the won has gained 51 pct since the beginning of 1986
the company said the exercise of all options and warrants by autospa would result in a tital investment of 50 to 55 mln dlrs
it said unadjusted m 3 increased to an estimated 3013 billion nz dlrs from 3008 revised from 3006 billion in december and 2518 billion in january 1986
he added the treasury was aware of japanese news reports suggesting the reagan administration might issue such bonds as the former carter administration did when it sold carter bonds denominated in west german marks
chelsea industries inc said earnings for its fiscal second quarter ended march 30 will be sharply lower than the 1414000 dlrs or 55 cts a share it earned for the same quarter last year
seixas who has played a leading role in negotiations with creditors over brazils 109 billion dlr foreign debt is not attending current debt discussions in miami
short term refers to 1987 and 1988 the spokesman said
1986 4th qtr and yr oper net exclude 606000 dlrs or 38 cts per share and 2323000 dlrs or 186 dlrs per share for net operating loss carryovers
bilzerian said he and bicoastal made net purchases of 515600 shares on the new york stock exchange jan 26 march 25
the adjusted world price is at average us producing locations near lubbock texas and will be further adjusted for other qualities and locations
if you really want to expand domestic demand the way to do it is not to raise wages recklessly but to reduce commodity prices bumpei otsuki president of the japan federation of employers associations told a recent press conference
the ministers stopped short of imposing their own solution immediately instead urging steel producers to try again to reach agreement on voluntary cutbacks
each warrant is exercisable into 100 shares of common stock of japan synthetic rubber
since similar arguments will be used in this case it is possible that any appeal in the maclaine watson case could be consolidated with amts appeal arnold said
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
last years imports were 253 billion dlrs against 181 billion dlrs in 1985
pay date is march 30
munro said the company does not plan to increase its dividend
may 31 shr loss 13 cts vs loss 4 cts net loss 225000 vs loss 80000 revs 118 mln vs 104 mln avg shrs 1789165 vs 1789455
john heinz r pa urged the administration to take steps to reduce volatility in the financial markets including suspending program trading and limiting daily trading on stock index futures
the association of german cooperative banks said in a financial survey that domestic interest rates would continue to remain low for the time being
shr loss 94 cts vs loss 125 dlrs net loss 121 mln vs loss 159 mln revs 3307000 vs 162 mln note current year includes writedown of 85 mln dlrs
opec says february output under ceiling
both last months increase and januarys fall in farm incomes was because of government subsidy payments the department said
a us senate team was scheduled today to meet kuwaits crown prince and prime minister sheikh saad al abdulla al sabah and the defence and oil ministers
southwest said a commitment to reduce the interest rate and extend the houston loan for one year has been accepted
consolidated natural gas co cng in payout
the city of amsterdam launched a 300 mln guilder commercial paper program in the dutch market lead manager amsterdam rotterdam bank nv said
shattner said the company expects to report a profit of five pct or about 350000 dlrs on sales of seven mln dlrs for the second quarter ended january 31
there is a put option on march 31 1992 to yield 8 1 2 to nine pct and the bond is also callable by the borrower until march 31 1988 at 106 pct declining by one pct per annum thereafter to par
but this is the first international aid package for trc which also carries cargo for uganda zaire and burundi
baltek bteko buys ecuadorian plant
south koreas trade deficit with japan was a record 545 billion dlrs in 1986 and rose to 752 mln dlrs in the first two months of 1987 from 727 mln in the same 1986 period
stoltenberg declines comment on possible changed targets for currencies
anz bank says it will cut australian prime to 1825 pct from 185 on march 30
on february 6 vulcan a cincinnati maker of shoe lasts and other products offered five dlrs a share for all of jones and vining common subject to certain conditions
the white house economic policy council is expected to discuss possible sanctions against japan at a meeting scheduled for thursday
rhodes inc said it now estimates fourth quarter ended february 28 earnings were eight cts a share down from the 25 cts earned in the final quarter of fiscal 1986
the bank added that the 1987 forecasts were also based on the assumption that the international economic situation and portugals world trade relations would remain more or less the same as in 1986
intermark said it already holds 6839827 pier 1 common shares or 3566 pct and its pier 1 holdings inc holds 1484516 shares or 774 pct
no fees were stated
reynolds urged shareholders to be patient saying the group sponsoring the tender offer had months to evaluate gencorp while we have had only 10 days to respond reynolds also disclosed the company has resolved legal challenges to its planned sale of wor tv serving the new york city market and expects to complete the sale by friday
the deficit for calendar 1985 was 261 billion
the bundesbank would therefore be reluctant to make a move on interest rates when this would be better held in reserve
wilfred american educational wae regular div
as previously reported bond media will be publicly floated with a rights issue to bond corp shareholders
production in the november 1986 to january 1987 period totalled 129 mln tonnes
a bdding war to 50 or 60 dlrs a share is stretching it
it plans to file by mid may with the securities and exchange commission a registration statement covering the securities computer products said
you just cant do that
the japanese government has sent a long questionnaire to public institutions like universities which buy the sophisticated machines in hopes of eventually setting up informal bidding procedures easily understood by all potential sellers officials said
president of international telecom japan inc itj nobuo ito decline to specify what share the firms would take but told they would not participate in its management
bank officials have said the bank regards the overdraft reference rate based on short term rate trends as its key prime lending rate to corporate customers
siemens raises stake in telecom plus of us 
the bank of japan will sell tomorrow a total of 800 billion yen worth of financing bills from its holdings to help absorb a projected money market surplus of 1700 billion yen money traders said
subroto told reporters afterwards that contract extensions would be selective based on how much capital would be invested
so far we havent seen any decline in marketings
gillette co said revlon group made an unsolicited request asking the gillette board to allow revlon to make a cash offer for all gillette shares of at least 4050 dlrs per share
ec surplus food stocks at january 31 included 128 mln tonnes of butter 520000 tonnes of beef and over 10 mln tonnes of cereals
at midsession the central bank changed the shortfall to 500 mln and provided assistance worth 96 mln stg through bank bill purchases in bands one and two at established dealing rates
manila also hopes to tack on another 58 billion dlrs rescheduled in a 1985 accord to any new agreement the officials said
foreign brokers may get more access to japan bonds
we are not only holding our gains on unemployment we are bringing unemployment down he said adding that the government had help the country avoid recession
coast said the acquisition would give it an entry into the san joaquin valley market besides strengthening its presence in the san diego los angeles and orange counties areas
moodys investors service inc said it is reviewing the long term debt ratings of ford motor co and ford motor credit co for possible upgrade
all areas must spare no effort to raise the autumn harvest area especially of corn sweet potatoes paddy rice and high yield cash crops it said
however the figures exclude exchanges with the eastern bloc paid in non convertible indian rupees the sources said
it said the offering was a new issue and not a reopening as stated yesterday
genex said as part of the transaction it has signed an emplopyment agreement for a senior executive it did not name to become president and chief executive officer of genex at the end of march on completion of his obligations to his current employer
tilden said gencorp will use the proceeds from the sale to reduce its 15 billion dlr debt
the us agriculture department estimated canadas 1986 87 wheat crop at 3185 mln tonnes vs 3185 mln tonnes last month
american telephone and telegraph co does not plan to reduce its regular quarterly dividend of 30 cts a share on its common stock said james e
since making the big mistake in 1981 of cutting taxes enormously without any plan to decrease spending by the administration or congress indeed with increases in defence spending now all the options for reducing the budget deficit are unpleasant he said
dutch animal feed usage down in first half season
the planned three billion baht issue would carry a term of six months to one year as a short term move to mop up surplus funds held by commercial banks
usair said it and piedmont again requested expedited approval for the acquisition
fortune said that under the agreement it will pay 2010 dlrs cash for each of marines 500000 shares outstanding among other things
in one bizarre dispute in january sarney surprised brazilian business leaders by declaring that they were allies of the 19th century anarchist mikhail bakunin
applied solar energy corp solro 2nd qtr net
the philippines bank advisory committee meets tomorrow to discuss its response to a novel proposal by finance minister jaime ongpin to pay part of the countrys interest bill with investment notes instead of cash bankers said
the political clock is ticking towards presidential elections due by april next year
salant today reported earnings for the year ended november 29 of 1596000 dlrs after a 1600000 dlr pretax provision for loss on the sale of a subsidiary but before a 9400000 dlr post tax charge attributable to costs and expenses of chapter 11 and the settlement of pre chapter 11 claims as well as a 2712000 dlr tax credit
the rise in pre tax parent company profit was due to lower extraordinary expenses and higher net interest income
he added that the current discussions were a reaffirmation of that agreement indicating that the solidarity that occurred in paris was still in place
lead underwriter mcdonald and co investments inc mdd said an offering of 900000 shares of action auto rental inc is underway priced at 12 dlrs per share
baldrige said the reagan administration hoped the strong us action against japan would convince congress to tone down protectionist trade legislation now being drafted
the price of hongkong and shanghai hotels ltd shlhhk s stock soared on speculation of a takeover battle between major shareholders the kadoorie family and the evergo industrial enterprise ltd evghhk group stock brokers said
it has some 200 mln dlrs in funds under management
both boards have approved the merger
i think were near the top of the range in the europeans currencies he said
allis chalmers corp said it asked lenders and other groups to approve a restructuring plan that would cause a dilution of the companys existing common stock
the conversion price into storehouse ordinary shares has been fixed at 346 pence which represents a premium of 984 pct over last nights 315 pence closing share price
theyve also begun to realise that you cannot legislate solutions to a 170 billion dollar trade deficit so they are more realistic and in my judgement more responsible on that issue than they were 12 or 18 months ago he added whether that will be reflected in the legislation that eventually emerges is another matter
he expects rates to gain 50 to 100 basis points in early summer from the 950 pct fixed rate effective in february
the agency said the amount of tied up working capital rose and sizeable funds were occupied by unsaleable goods in 1986
even in the thorny area of access much depends on us commitment as well as on japanese openness some said
ibm ibm forms telecommunications group
endotronics sees heavy losses in qtr from withdrawal of japan distributor
this compared with 2519 in december 2655 in januay 1986 and 2672 in december 1985
industrial equity pacific does not intend to remain a passive investor in calmat the firm told the sec
the previous record low was 3383 pct at the last auction on february 12
takemoto also dismissed us fears that the proposed takeover would violate us antitrust law saying the purchase would not result in fujitsu monopolising the us semiconductor market two separate issues appear to have come together to boost pressure to block the purchase industry analysts said
shr loss 43 cts vs profit eight cts net loss 31 mln vs profit 502896 revs 56 mln vs 42 mln note1986 net includes negative effect of accounting change of 354650 or five cts a share
interest rates on the london money market were slightly firmer on news uk chancellor of the exchequer nigel lawson had stated target rates for sterling against the dollar and mark dealers said
japan has come under growing criticism from both the united states and european countries for its only modest efforts to open its markets to outside competition and to reduce its exports
the crisis began when brazils trade surplus its chief means of servicing its foreign debt started to decline sharply and the problem was compounded by a renewed surge in the countrys27ate of inflation
earlier today the official planning agency cpb said it expected the surplus to fall to six billion guilders during 1987
it ended that day at 17820 30 marks
according to the report domestic liquids reserves fell slightly to 6285 mln barrels from 6289 mln and foreign reserves fell to 1743 mln from 4864 mln barrels
rockefeller center properties inc rcp 3rd qtr
the latest brazilian coffee institute estimate for last years harvest is 112 mln bags although many traders believe it was higher than this
it has retained barclays de zoete wedd to advise on the introduction of independent investors to subscribe for additional capital and believes that the proportion of equity capital held by outside investors would not exceed 20 pct of the total
we wish to see it stability continuing he added
all in tonnes except silver which in troy ounces
silver prices rallied after a us brokerage house recommended its customers buy the metal traders said
in a filing with the securities and exchange commission the group led by mutual shares corp said it sold 60000 cyclops common shares since february 26
the cyprus vessel fearless 31841 tonnes dw which was on fire grounded then towed to yantai china in august had all its cargo reloaded but the cargo in the no
the us is pressing for greater access to the japanese super computer market
this would be the case if west germany were to implement a ban on the sale of leaded regular petrol
irwin jacobs says he holds less than five pct of gillette
genentech gene says fda to review tpa
reporting full year data it also said gross domestic product rose 83 pct compared with 51 pct in 1985
the grain will be shipped between june 15 and july 15
sims said the agencies were near to reaching a memorandum of understanding governing how dot would pay for its share of the cargo preference costs
sceptre investment counsel ltd 1st qtr net
other major issues of the meetings include a us bid to to have a larger say in approving loans of the inter american development bank strengthening the link between loans and economic policy changes in debtor nations
interest on both tranches is 1 8 percentage point over three months hong kong interbank offered rate subject to a 14 3 8 pct ceiling
lyng will visit tokyo from april 16 to 27
he was referring to trade legislation pending in congress that would force the united states to take retaliatory actions against nations with large trade surpluses with the united states if the countries practiced unfair trade
talyzin said the 1988 soviet plan stressed the engineering industry which kremlin leader mikhail gorbachev has described as a sector where rapid modernisation is essential if the soviet union is to compete effectively on world markets
toronto sun publishing corp said it planned a two for one split of its common shares subject to regulatory approval and approval by shareholders at the april 21 annual meeting
norways current account in deficit
us supply demand detailed by usda
m 2a similar to m 2 but excluding certificates of deposit and including proceeds from bank repurchase operations rose a provisional 20 pct seasonally adjusted over the three months to end january 1987
in january the index fell 11 pct from a year earlier the first drop of over one pct since a 13 pct drop in september 1958
the outlook for the west german economy is relatively bright with gross national product expected to expand by three pct this year kiel universitys institute for world economy said
arbitragers speculate that gaf will not give up easily on its 316 billion dlr offer to buy the balance of borg warner
fhlbb changes short term discount note rates
the sparks study said that 51 billion dlrs or 70 pct of those savings resulted from smaller government storage costs
miami brazil and bank advisory committee agree to 60 day extension on credit lines
the price will be used in determining first handler cotton certificate payment rates
french inflation slowed in february to between 01 and 02 pct against 09 pct in january the national statistics institute insee said
we simply arent prepared to continue to accept the imbalance which has been the position for such a long time post and telecommunications ministry officials were unable to comment on howards meeting with their minister
gradin cautioned that legislation upon which the boycott would be based was not impossible to get round
dixons gets only 20 pct of cyclops cyl in bid
traders and delegates said they have seen no sign that a date will be set for an earlier council meeting
the notification does not represent anything resembling a formal complaint nor is it intended to pressure south korea
us 7 year note average yield 704 pct stop 704 pct awarded at high yield 62 pct
innovex invx completes purchase of lucht
consequently the procedure followed is less favourable than that which takes places in normal courts of law for goods produced in the united states it said in a statement
the murray ohio manufacturing co said it expects first quarter earnings to be higher than the 4800840 dlrs or 125 dlrs per share it recorded for the first quarter of last year
jones and vining inc said it has started a tender offer for all of its own shares at five dlrs per share
yu said the government could maintain the framework of the foreign exchange controls while finding ways to ease them
guilford mills inc is raising 75 mln dlrs via an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole manager bear stearns and co
the office of finance said allocation of the 1997 issue will be limited to members of the long term selling group
in this respect an easing of protectionist barriers was imperative he said
they said the mineral group has been hit by lower coal prices and shipments to japan while the steel division has been affected by industrial and production problems
russo said it had no knowledge or reason to believe that any of these transactions were based on the improper use of inside information
the new international natural rubber agreement inra is expected to be formally adopted on friday
however hall said that only about 36000 jobs had been lost in the region while more than 600000 new jobs were created during the period
novamin inc said its board will recommend to shareholders the takeover offer made by breakwater resources ltd
there were six grain ships loading and eight ships were waiting to load at portland according to the portland merchants exchange
during the year property prices continued to rise as more people bought real estate benefiting from low interest rates analysts said
broadly defined m 3 figures released today showed growth of 178 pct in the year ended december compared with 131 pct in the year ended september
usda reports corn sold sold to unknown
rowan cos inc said it expects to incur substantial losses in 1987 despite expected improvement in drilling levels in the gulf of mexico and the north sea
atpc members find ways to curb tin exports
allegis aeg westin sets news conference on sale
the bank of england again fought against money and bond market pressure for a pre budget interest rate cut leaving the pound to take the strain with a further rise in its trade weighted index to a six month high
a sugar mill which was this nations second largest employer closed its doors yesterday saying it had been run out of business by sugar smuggled from miami and the neighbouring dominican republic
euras broke even in 1986 and required no funding from deutsche he said
each country in the g 7 britain canada france italy japan the us and west germany has a different view about currency stability the bank of japan sources said
multi step also said it will pay 900000 dlrs to cancel 711192 of its own shares which will be acquired from michael penhale and his benficiaries
spartech corp said it plans a one for five reverse stock split and has filed a registration statement with the securities and exchange commission covering a planned 25 mln dlr offering of convertible subordinated debentures due 1999
because of the banks sensitivity to south africas apartheid regime the previous negotiations were conducted with fritz leutwiler the former head of the swiss national bank acting as mediator
the imf observed in its world economic outlook that it has to be recognized that exchange rate adjustments take time to work through to payments flows probably at least three years to get a resonably complete effect the report added however the adjustments may take even more time on this occasion m
amc was in need of a financial savior because of its losses of more than 800 mln dlrs since 1980 and pressures in france for renault to cut its backing
balladur maintains 1987 25 pct inflation target after february 34 pct year on year
the bill which must still be approved by parliament would take effect in april 1988
offers for the copper are due by 1100 hrs edt april 21 while offers on the nickel are due at 1100 hrs edt on april 14
in return us lines will receive a fixed payment and a percentage of revenues for at least three years and possibly as long as american transport utilizes its vessels and conducts trade in south america the company said
hawkeyes survival will depend on its ability to comply with provisions of the debt restructuring and regulatory agreements and on its ability to return to profitable operations it said
the spectra physics board voted unanimously with two ciba geigy representatives not participating to reject the swiss based chemical and pharmaceutical companys takeover bid citing an opinion from its financial advsior morgan stanley and co inc that it is inadequate and unfair from a financial point of view to the holders of shares the company said
under terms of the transaction each norstar shareholder will receive 12 shares of fleet common stock based on the number of fleet shares after giving effect to a previously announced april one fleet stock split
the southerners goal of including agricultural and tropical products also was met
cpc said the sale is not expected to have a significant impact on its earnings and is subject to approval by boards of both companies
unemployment in the uk fell a provisional seasonally adjusted 44100 in february to total 307 mln or 111 pct of the workforce the employment department said
the domestic price index fell 01 pct to 919 in february its 24th straight monthly drop mainly reflecting falls in prices of home appliances such as colour televisions due to severe sales competition at home
but dennis mcalpine analyst at oppenheimer and co said i dont think its worth 150 dlrs he noted taft recently agreed to sell a group of independent television stations at a loss
mcivor said it was important to continue to search for oil outside the middle east because each addition contributes to a diversity of supply desirable for global political and economic stability
the price decrease follows sharp declines in heating oil prices in the spot and futures markets traders said
the company said this is not in response to a known effort to acquire control
questioned by reporters as he left a house committee hearing baker said no when asked about the bond decline adding that it was a reflection of concern about the possibility of a trade war
latin american countries exports fell last year by about 16 pct to 80 billion dlrs with imports declining slightly to around 65 billion dlrs mittendorf said
funaro says brazil needs more faster finance
the newspapers overseas edition said the plant will produce 300000 tonnes of ethylene a year
the commodity credit corporation ccc has accepted a bid on an export bonus to cover the sale of 8000 tonnes of barley to cyprus the us agriculture department said
henkel sells hamburg oil and fats subsidiary
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
hanson also said in accordance with the merger agreement kasier cement also has redeemed all outstanding shares of its 1375 dlr convertible preferance stocks and its outstanding 9 pct convertible debentures due 2005
net excludes discontinued amusement game operations gains 144095 dlrs vs 70194 dlrs in quarter and loss 2952814 dlrs vs gain 196872 dlrs in nine mths
delegates agreed to shelve discussion of iadb reforms until the half yearly international monetary fund and world bank meetings in two weeks time in washington at which a decision will be urgently sought in order to maintain credit flows to the recession hit region
there is a general fear that we will become a country with high unemployment said takashi kiuchi senior economist for the long term credit bank of japan ltd
funaro is currently on a european trip seeking to involve governments in negotiations with commercial banks on rescheduling part of brazils foreign debt which totals some 109 billion dlrs
mclean said the minimum lease payments will be seven mln dlrs and estimated revenue participation during the first four years at about 16 mln dlrs
in a statement the association said the parties had disagreed over economic sanctions
the department also said the guarantee line for sales of us wheat under the export credit guarantee program gsm 102 has been decreased 450 mln dlrs to 600 mln
the expatriate workforce has fallen sharply
credit foncier de france is issuing a 150 mln ecu eurobond due april 14 1994 at 7 5 8 pct and priced at 101 5 8 pct lead manager banque paribas capital markets said
second there will be a new relief against prt for spending on research into uk oil extraction that is not related to any particular field
first of america bank corp said it completed its affiliation with lewiston state bank of lewiston mich
bnl officials said the group had also decided to increase its activities in the soviet union by opening a representative office in moscow this month through its subsidiary sogecred which specialises in italian soviet trade
it said the fund will seek long term capital appreciation mostly by investing in us companies with market capitalizations between 50 and 500 mln dlrs
as of yesterday qintex said 7060197 princeville shares had been tendered in response to the offer and not withdrawn down from over 72 mln on march 10
earlier the company reported 1986 net income of 1112 mln dlrs or 257 per share versus net income of 1249 mln dlrs or 289 dlrs a share in 1985
imtec imtc gets merger offer
the banks raised the prime to the current six pct from five pct on february 28 after cutting it 1 1 2 points from 6 1 2 on january 15 in response to upside pressure on the hong kong dollar he said
singapore land ltd lndhsi first half feb 28
one of the reasons was the widely varying terms and conditions of participation shares in west germany
terms were not disclosed
ryder system inc said it has acquired caledonian airmotive ltd from british caledonian group plc for undisclosed terms
the rising cost of energy and imports is likely to boost consumer prices by an average of 37 pct this year up from 19 pct in 1986 bank of america forecast
the rates moved very suddenly and were certainly unexpected by homebuyers said cynthia latta an economist with data resources
brazil wanted to maintain its previous quota share of 30 pct
it said under the plan shareholdrs of record as of april 21 will receive a right to purchase under certain circumstances at a price of 42 dlrs 001 preferred share for each common share held
in conjunction with the stock split proposal the shareowners will be asked to approve an increase in the authorized common stock from 60 mln to 150 mln shares the company said
atcor inc said that roth american inc which had signed a letter of intent on may 1 to acquire its turco and charmglow operations of its consumer products segment has decided against buying charmglow
brazil grain harvest faces storage problems
invisible earnings rose to 677 billion from 509 billion while invisible spending climbed to 751 billion from 706 billion he said
dixons plans to let cyclops cyl offer expire
the sosnoff offer to buy the shares of the company he does not already hold has been valued at 7252 mln dlrs
medical care rose 03 pct in february to a level 71 pct above one year ago because of higher costs for prescription and non prescription drugs and medical supplies the department said
1986 3rd and nine mths 21 mln and 79 mln dlrs for tax credits
at the center of the controversy is bank president barber conable whose reorganization efforts are getting some critical review from many bank staff members and some member countries including the united states
the debentures are convertible into the companys common stock at 51875 dlrs per share representing a premium of 25 pct over the stock price when terms on the debt were set
guinness challenges 52 mln stg payment to lawyer
the merger is subject to regulatory and shareholder approval
iraq national oil co inoc told cpc a red sea port where lifting was to take place could not accept small ships
first city bancorporations sale of 54 mln dlrs in oil loans to prudential bache should significantly reduce its energy problems but the banks losses are still virtually guaranteed to continue analysts said
wifo chief helmut kramer told a new conference that he saw the one pct figure which compares with 18 pct last year as the upper limit of growth
the company named alex brown and sons inc as lead manager with first boston corp and shearson lehman brothers inc as co managers of the offering
invacare ivcr expects higher 1987 sales
there is no real need to boost private consumption he said
curtice burns foods inc cbi 1st qtr net
lawson says he is content with current sterling exchange rate
shr 24 cts vs 13 cts net 380325 vs 211183 sales 5046578 vs 3941764 note current year net includes gain from sale of sterling heights mich plant of 174000 dlrs
japanese consumers currently eat less than 10 lbs of beef per year compared to 78 lbs for the average american officials said
stoltenberg reiterated west german concern about a further fall in the dollar noting that the mark was up 85 pct against the dollar and nearly 20 pct on a trade weighted basis
quest medical inc qmed 4th qtr loss
some expectation had been growing that it might cut the rate or move to a minimum interest rate tender signalling a desire for a slight easing in credit policy
the report dated april 3 said the region accounts for about 22000 hectares of the italian orange crop or about 26 pct of total production
over 32 billion dlrs of an estimated 60 billion in corn deficiency payments have already been announced with 142 billion dlrs 43 pct set in certificates
january 1987 natural gas output totalled 115 billion cubic metrers 36 pct higher than 111 billion cubic metres produced in january 1986 yacimientos petroliferos fiscales added
canada exported two billion canadian dlrs worth of steel in 1986 while importing 944 mln dlrs worth of the product in the same year
the loans have to be treated as non performing after 90 days without a payment
baker also told the policy making group that it was time for the imf to adopt earlier recommendations making imf surveillance more relevant to national policymakers and the public
personal tax and nontax payments fell 55 billion dlrs in february following a 195 billion dlrs january drop
the april rate is up from marchs 5 7 8 pct and reflects the interest rate charged ccc by the us treasury the department said
they ought to be very strongly supported in the gatt round as a mechanism for relieving their debt burdens or making possible debt amortisation in the future he said
mpt thrust into the spotlight by trade rows with the us and britain is in a position of strength due to its control of a lucrative industry and its ties with important politicians they said
the institute for economic research wifo said it has cut its forecast for austrias 1987 gross domestic product growth to a real one pct from a two pct forecast made last december
us said promised bulk of maize export to spain
nondilutive acquisitions are a real possibility gavin herbert president of the eye and skin care product group said in the report
the exchange rate has been set at 9978 yen to the franc
this line of argument cuts no ice with the filipinos who note drily that they asked for no new money at all
american was halted on nasdaq pending a news announcement
and renault could have gotten a much better price if wed done it before the end of last year in addition to amcs debt and its pension liabilities the source said chrysler would also assume any liability from lawsuits over the safety of jeeps which he called an overhang to the company analysts quoted chrysler officials as having told them that the deal includes payment to renault of 200 mln dlrs principal in the form of a 10 year note at eight pct interest 35 mln dlrs cash for renaults equity in amcs finance subsidiary 25 mln dlrs in cash for transaction fees in connection with the acquisition and 522 mln dlrs worth of chrysler stock to be paid amc shareholders
the realignment was marked by acrimony between france and west germany with each side blaming the other for strains in the system that forced the parity overhaul
in view of this imbalance we dont believe it is unreasonable to ask for a change baker said
us retail sales rise masks weak trend analysts
shr royal dutch petroleum co rd 230 dlrs vs 290 dlrs final royal dutch dividend of 830 guilders for total 1280 guilders vs 1280 guilders for 1985 shr shell transport and trading co plc sc 138 dlrs vs 165 dlrs final shell transport dividend 1180 pence for total of 1720 pence vs 1400 pence for 1985 group net 107 billion vs 124 billion group sales 2042 billion vs 2584 billion year shr royal dutch 865 dlrs vs 911 dlrs net shell transport 478 dlrs vs 516 dlrs group net 371 billion vs 388 billion group sales 8140 billion vs 9457 billion notes group is 60 pct owned by royal dutch and 40 pct by shell transport dollar amount of royal dutch dividend will depend on guilder dollar exchange rate on may 14
trade sources said the strike did not affect production or todays colombo auction
this just means that there were fewer people looking for work so the drop in unemployment doesnt mean much he said
senior us official to visit japan as trade row grows
total corn sales by argentina to the soviet union are only 15 to 18 mln tonnes with delivery spread out from march to june the us agriculture departments counselor in buenos aires said in a field report
investor david laroche said he has extended his cash offer to buy 170000 shares of neco enterprises inc at 26 dlrs each until april 14
the swiss finance ministry is inviting tenders for a new series of three month money market certificates to raise about 150 mln swiss francs the swiss national bank said
1986 nine month results include 1804000 dlr gain from june 1986 sale of national sanitary supply common stock in an initial offering
this should keep substantial pressure on exporters to undertake sales despite the drop in prices she said
the bid is conditional upon an examination by gordon of the business and affairs of pagecorp during the 45 days ending december 3 1987
the bills will be issued april 16
carson said it was extremely optimistic about improved profit performance in 1987 it said in the first half of 1987 it hopes to reduce seasonal type losses sustained in the 1986 first and second quarters
towle manufacturing co in chapter 11 of the us bankruptcy code said any plan of reorganization would likely lead to a dilution or cancellation of its common and preferred stock
texas commerce tcb sees improvement in 1987
at the frankfurt fixing on tuesday the dollar was quoted at 17918 marks compared with 17740 on monday
companies that grew enough during the period to make the fortune 500 list included apple computer pacific telesis mckesson tandem computer us leasing and amfac
the report showed a rising volume of exports corresponding to a decline in imports despite the fact that in current dollar terms the us trade deficit worsened during the closing three months of 1986
the average yield on the three month bills was the highest since february 9 when it was also 572 pct
the other 50 pct is held by total exploration sa the fields operator
you dont want to put interest rates up unless you have to volcker told the senate banking committee
full year results will be published in june
however the authorities will hope that at least a proportion of the buying reflects long term investment
algerian and spanish producers which together meet 40 pct of the western markets needs in quicksilver have agreed to apply a minimum selling price of 300 dlrs per unit the algerian news agency aps said
a similar argument was made on capitol hill earlier this week by federal reserve board chairman paul volcker
the following proposed securities offerings were filed recently with the securities and exchange commission on line software international inc osii offering of 30 mln dlrs of convertible subordinated debentures due march 15 2002 through drexel burnham lambert inc and donaldson lufkin and jenrette securities corp
the acquisition is subject to approval of the federal reserve board
the ministry has decided to lower the eligibility standard for foreign brokers to participate in government note auctions by abolishing a requirement that participants have current accounts with the bank of japan the official said
with this in mind and with dutch roasters claiming to have fairly good forward cover the buying strategy for the foreseeable future would probably be to buy coffee on a hand to mouth basis and on a sliding scale when market prices were below 120 cents a lb roasters said
borg warners chemical and plastics business provided 1986 operating profits of 1533 mln dlrs on revenues of 104 billion dlrs
in its most recent year the company had revenues of about 15 mln dlrs
this action is not helpful in the context of the ongoing us canada free trade talks or in the new round of multilateral trade negotiations lyng said in a statement
although enskilda said astra had not made any breakthrough in developing a specific drug to treat the acquired immune deficiency syndrome it noted that investors were only now discovering that the firms approach in the area was promising
entertainment marketing told the sec it expects to meet with crazy eddie representatives in the near future
the plan adopted in december 1986 permits clevite to issue shares at half price to existing stockholders and allows stockholders to buy shares of an unfriendly bidder at half price
a senior world bank official said the lending agency planned to authorise almost 70 mln dlrs in new credits to bolster the productive structure of bolivias state oil company ypfb this year
they said that to expand participation by foreigners the syndicate must either expand the securities industrys 26 pct share cut local brokerages share or introduce auctions to the government bond primary market the sources said
qtly div 20 cts vs 20 cts prior pay june 16 record may 22
but western economists said they treat soviet productivity figures with caution as they are more broadly based than in the west which measures worker output over a given period
this is quite a normal situation
he said the south korean won would be revalued against the dollar gradually but added we do not believe in rapid one shot changes in the value of the won the won fixed at 83970 to the dollar today has risen six pct against the dollar since the beginning of 1986
imre imre sells stock to european institutions
citicorp cci denies rumors of debt writedown
ltd which would begin business in the first half of 1987 widened the banks activity in tokyo
but they claimed it was a once off phenomenon that should have no knock on impact on the rest of the year
when the ibc opened may registrations from yesterday it did not set any volume limit
the selling concession is one pct while management and underwriting combined will pay 1 2 pct
alitalia reports higher net profits
he said the offer would be made at a meeting later this month between us trade representative clayton yeutter and ec external relations commissioner willy de clercq
paris g 6 meet set no targets leigh pemberton
berisford plc brfdl which has attracted takeover bids is making every possible effort to remain independent deputy chairman henry lewis said after the company announced interim results
valero energy corp vlo 3rd qtr loss
only if brazil has access to new loans can it grow export and pay its debts over the longer term
viacom via natl amusements seek fast merger
company controlled by bond corp holdings ltd of australia
the harvesting season begins in april
the stock markets bullishness late last week was partly due to funds transferred from us treasuries dealers said
first wisconsin fwb to make acquisition
exports to the convertible currency area rose 116 pct from 1985 while imports rose 178 pct
reserves of european currency units fell to 7325 billion francs from 7527 billion at end december
currently import licences are required only for carbon or raw steel which makes up less than half the steel market
shr 30 cts vs 25 cts net 105 mln vs 8697589 revs 719 mln vs 649 mln
company full name schweizerische aluminium ag
transamericans suit alleges that coastla attempted to unlawfully gain control of transamericans texas natural gas reserves and pipeline system
the federal reserve is expected to add reserves to the us banking system by arranging a round of customer repurchase agreements during this mornings intervention period several economists said
we feel we will continue to see higher growth in the quarter james treybig president and and chief executive officer told a meeting of securities analysts
the probability that much of the shake up at standard was now complete was one possible factor behind the timing of the tender offer spedding said
miller tabak hirsch and co said it has received an accepted 3424729 common shares of penn traffic co in response to its 3160 dlr per share tender offer that expired friday and together with the 380728 shares it already owned it now has about 918 pct of penn traffic
but the push to include non communist countries in countertrade is also due to other factors including the slow growth of foreign reserves a tight debt repayment schedule shrinking aid and trade protectionism businessmen said
bank of england said it invited borrowings at 10 pct later today
indian state firm signs 1691 mln mark loan pact
dna also said it will submit a proposal at its annual meeting for it to acquire three companies owned by mize heritage lite meat corp national lean beef corp and heritage cattle ltcorp dna said the total value of the transactions is 700000 dlrs
coffee quota talks continue but no agreement yet
special bonus four cents vs nil
in japan and west germany by contrast domestic demand should rise faster than gnp
aqazadeh said the us military presence in the gulf aggravated the regional crisis and made access to the regions oil more difficult but he did not see the us attack significantly affecting oil prices
consumers power co said it has 56 mln dlrs available to be used to redeem at par any 15 pct series first mortgage bonds that are not exchanged under an outstanding bond exchange program
however wendys remained up 5 8 at 12 3 8 on volume of more than three mln shares
the warrants when exercised would be repaid in current dollars based on the value of gold on the exercise date
as previously reported dome is seeking approval in principle for the debt restructuring plan
closing is expected march 17 it said
it will apply to list the notes on the new york stock exchange
sec probes 1986 tre tre takeover attempt
its necessary to clarify policy for internal and external reasons he said but declined to say what economic measures might be introduced
in addition it bought 98 mln stg of bills for resale on march 30 and 49 mln stg for resale april 8 at an interest rate of 10 7 16 pct
rains aid manitoba crops during week
japans broadly defined money supply average of m 2 plus certificate of deposits cd rose a preliminary 90 pct in march from a year earlier compared with an 88 pct rise in february the bank of japan said
even though an earlier thin protective layer of snow mainly melted in february air temperatures down to minus 30 c should not be harmful she said but added that wheat can still be damaged by cold spells in march and april when young shoots may be exposed to night frosts
baxter travenol labs bax 3rd qtr shr net
many of the shelters set up throughout the state in areas threatened by flooding except those near the washita and red rivers closed as residents returned to their damaged homes
shr primary 179 dlrs vs 172 dlrs shr diluted 139 dlrs vs 134 dlrs net 121 mln vs 117 mln nine mths shr primary 556 dlrs vs 441 dlrs shr diluted 430 dlrs vs 374 dlrs net 373 mln vs 291 mln assets 392 billion vs 383 billion loans 305 billion vs 299 billion note 1987 qtr and nine mths includes gain 6016000 dlrs and 187 mln dlrs respectively from utilization of net operating loss carryforward
french payments surplus shrinks in january
houston oil ho reserves study completed
csr said it will announce further details of the offer soon including an alternative offer of csr shares for pioneer sugar stock
one of the beauties of the scheme according to buchheit is that it widens the scope of third world debt negotiations which have been confined to debtors and creditors for the past 4 1 2 years
he said its new loans will increase the pool of funds available for badly needed investment
thats a nice marriage he said
ceylon petroleum corp cpc has decided to renew its one year contract with abu dhabi for 480000 tonnes of upper zakum crude oil cpc officials told 
national distillers dr to sell spirits unit
qtly div 13 1 2 cts vs 11 1 2 cts prior pay june 15 record may 22
s and p cited rate relief stabilization in 1985 bank debt restructuring and the implementation of cash conservation measures
the french franc price is pre tax for specified quality a minimum 999 pct purity at a french port or border railway station and a minimum delivery of 10 tonnes
by striking swift deals banks hope to reduce the incentive for other debtors to emulate brazil
measured as an annual average rate inflation in february was 111 pct compared with 114 pct in january
some 40 miners were trapped underground today by a fire in a copper mine in the gaspe area of eastern quebec officials said
government moves to encourage lending and investigate company complaints about late public sector contract payments could boost confidence but recession has slowed the nations industrialisation program and discouraged foreign investment
the administration has proposed cutting the fill rate from 75000 barrels of oil per day to 35000 bpd in fiscal year 1988 to save money
the non callable bonds will be issued in denominations of one mln yen and will be listed in luxembourg
the facility will incorporate a 100 mln stg revolving standby credit and a 50 mln stg swingline credit both of which will be available for seven years
shr 27 cts vs shr 18 cts net 477000 vs 305000
usda puts march 1 us wheat stocks at 2253143000 bu
france yugoslavia commission to boost trade
to take controlling interest in schlumberger ltds fairchild semiconductor corp the house energy and commerce subcommittee on commerce voted to expand reagans authority to block foreign takeovers of us companies
between them these five countries had more than enough votes in the weighted voting system used in ec ministers meetings to block a decision jopling said
national pizza co said the seven straw hat piza restaurants in los angeles and bakersfield calif that it announced plans to buy friday are expected to generate annual sales of about 3800000 dlrs not the eight mln dlrs the company originally announced
he complained that official lending agencies had imposed tight control on credit over the past four years leaving commercial bank refinancing as the only credit available
pier 1 imports inc said its board declared a three for two split of its common stock and its 25 cents preferred stock and declared a regular quarterly dividend of two cents per share on the pre split shares of common stock outstanding
members unanimously rejected the latest company offer that was submitted to the union late last week
in addition tendering and non tendering investors will receive the bonds may one interest payment in common stock
but for the first time since the end of the oil boom these reserves may not be enough to prevent a real budget deficit for the 1986 87 fiscal year ending june 30 bankers say
oper shr loss four cts vs loss 33 cts oper net loss 154000 vs loss 1301000 sales 300 mln vs 270 mln year oper shr profit 60 cts vs loss 16 cts oper net profit 2364000 vs loss 608000 sales 1135 mln vs 1328 mln note net excludes extraordinary charges from provision for roofing products warranties and costs from sale of printing laminate division of 320000 dlrs vs 103 mln dlrs in quarter and 43200000 dlrs vs 127 mln dlrs in year
vbi corp an offshore based investment firm told the securities and exchange commission it raised its stake in the france fund inc frn to 681800 shares or 91 pct of the total from 551000 or 74 pct
chrysler c and units affirmed by s p
iran says us attack involves it in full scale war
the company said it hoped to resolve its debt problems in the near future
carolina power cpl cancels generating unit
united tote inc tote 1st qtr jan 31 net
the united states said its forces destroyed the platform on monday in retaliation for an iranian missile attack on a us flagged kuwaiti ship last friday
optrotech ltd optkf year net
given the importance of exports particularly export manufactures to all of your countries you are going to have to work hard to diversify your markets he said
there were 56578 bags pending certification including 32553 in new york and 24025 in new orleans the exchange said
donegal dgic projects full year results
cullen frost bankers inc said it will defer paying a cash dividend for the next 12 months due to the economic slump in the texas economy
the officials also said they expect the governments new trade insurance law to boost imports and encourage japanese companies to set up production facilities overseas
the industrial production index base 1980 stood at 109 in january compared with a downward revised 104 in december which was initially put at 105
developing coffee producing countries that depend heavily on coffee earnings particularly some african nations and colombia are likely to be hurt the most by the icos failure to agree quotas analysts said
ceasars world files suit against martin sosnoff and mts acquisition on tender offer
fekete said the rates would come into effect tomorrow
no underwriter was named
the 1986 net loss was on a pro forma basis newmont said
if we have a thrust for the coming years it is probably best to spend more time on life in the uk and abroad he said
the two banks have said they eventually wanted to reduce their stake in the shipping group to 15 pct each
this is the first time current account figures have appeared in a seasonally adjusted form
san diego gas and electric co said a california public utilities commission decision to reconsider allowing only 20 mln dlrs of the 69 mln dlrs in san onofre nuclear station costs it disallowed makes it likely that earnings in 1987 will be reduced at least 36 cts per share
nvhomes nvh sets split payment date
sea galley stores inc seag 4th qtr dec 28 loss
the deadline for the receipt of offers by the manager shall be 1330 hrs london time 1230 gmt in the case of offers emanating from the secondhand market and 1400 hours in the case of offers emanating from the origins
the number of live sheep shipped last year to saudi arabia the biggest single market was 3214159 compared with 2939226 in 1985
it began operations in november 1985
volcker says trade deficit is major challenge
in the first half of the statement period ended wednesday banks held excess reserves on the first four days of the week but ran a deficit on wednesday
the company said it went public earlier this year and its current ask price was 1 7 8
house panel wants pentagon manage us stockpile
first union corp said it is raising 100 mln dlrs through an offering of par priced 8 1 8 pct subordinated notes due december 15 1996
the deadline has been moved up because the department of transportation and ps group shareholders have already approved the transaction the company said
no attempt was made at the meeting to resolve the complex dispute which was aimed at damage limitation
icco buffer stock manager to buy 3000 tonnes cocoa wednesday june 3 official
one of our basic strategies is to target securities to specific investors and hopefully attain a broader distribution officers of korth and painewebber said the gmac notes were selling quickly last week although the issue had not sold out by friday afternoon
ecolab ecl debt may be downgraded by s p
he attributed the export decline to the rise in the taiwan dollar which has eroded the competitiveness of the companys products against those from south korea
1986 revenues include revenues for the last eight months of beckett aviation acquired in september of 1985
i think its wrong to assume dingman has formed a firm strategy with santa fe said mark hassenberg who covers henley for dlj securities
nogales said he does not expect bolivias debt repurchase to become a model for other debtors in dire straits
at the meeting company officials said american express stock is undervalued and does not fully reflect the performance of shearson according to analysts
official figures show the latest level compares with the previous record of 51 billion dlrs on march 4 and about 26 billion in late march 1986
european community ec agriculture commissioner frans andriessen said his proposal for a tax of up to 330 european currency units per tonne on oils and fats was likely to go up for discussion at next weeks summit meeting of ec leaders
such a development could hit uk exports and sharply alter the outlook for the next general election in which economic recovery will be one of the governments main themes political analysts said
insee which from january changed its base year to 1980 from 1970 originally had december output down 22 pct on november using the old base year
1985 amts restated in connection with companys distribution of investment in kay jewelers inc
german may current account surplus 75 billion marks april surplus 61 billion official
taiwan is currently the third biggest exporter to the us after japan and canada while korea is the seventh largest
shr 461 dlrs vs 428 dlrs net 6633 mln vs 5908 mln rev 403 billion vs 406 billion avg shares 1439 mln vs 1382 mln
howard has accused japan of trying to shut out cable and wireless from having a major role in the international telephone market in japan
brazil had taken a unilateral step roeller said but brazil had a strong and broad economic base
the assets being acquired consist mostly of distribution rights to films valued at over one mln dlrs the company said
payment of health benefits for active and retired employees would be made at substantially reduced levels allis chalmers once one of the leading farm equipment companies sold all of its farm equipment operations to deutz of west germany for 107 mln dlrs leaving the company with businesses in lift trucks air conditioning fluids handling and solid materials processing
prudential bache properties inc and graham energy ltd are general partners
marshall steel ltd formerly marshall drummond mccall inc said it will report a 17 mln dlr net gain before taxes this year from the sale of its drummond mccall division which was sold effective january one
mexico says it will sign 77 billion dlr commercial bank loan friday
mexico brazil and venezuela are the only latin nations with large trade surpluses last year with the united states but even mexico with the largest had a surplus of only 52 billion dlrs against japans of 586 billion dlrs
the central bank had placed buy orders at that level and prevented the dollar from falling when it came under heavy selling pressure from investment trusts and trading houses they said
but he added that markets are still very much in danger
doe issues offer to buy alaska power unit
london intl selling hot water bottle unit
moto photo inc president michael adler said he expects the companys first quarter earnings for fiscal 1987 to be better than the same quarter a year ago
the mineworkers were killed last september at kinross when a fire set off toxic fumes which suffocated miners underground
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
they estimated development costs for the mine and mill would total 211 mln dlrs including three mln dlrs of working capital
bank of new england corp reported that pro forma first quarter earnings which reflect its combined operations under a pending merger with the conifer group rose to 60 mln dlrs or 89 cts a share from 49 mln dlrs or 75 cts a share in 1986
pentland to reduce reebok rbk holdings
the company also said that due to the sluggish marketplace it does not expect to be profitable in the first quarter but is optimistic about the outlook for the year
some consumers wanted differentials to be adjusted in a way that would not promote buffer stock purchases of the more expensive cocoas such as ghanaian and brazilian they said
corrects march 11 item to exclude tax credit
iadb officials said washington had indicated however it might be prepared to compromise in the future
the package includes a 250 mln mark five year straight eurobond with a 5 3 8 pct coupon priced at par led by dg
moscow outlined its economic targets for 1988 on monday putting the grain harvest goal at 235 mln tonnes
article i in the agreement states that purchases sales of commodities under this agreement will be made at the market price prevailing for these products at the time of purchase sale and in accordance with normal commercial terms the united states should supply to the soviet union definite quantities of grain at competitive prices is the united states ready to supply this he said
dome dmp repeats dome mines dm stake for sale
mercer who plans to testify tomorrow at a senate hearing on a proposed bill to control corporate raiders said hostile takeovers have also hurt workers
inter regional financial ifg 3rd qtr oper net
shr 24 cts vs 26 cts net 15 mln vs 13 mln revs 405 mln vs 335 mln year shr 80 cts vs 82 cts net 49 mln vs 41 mln revs 1430 mln vs 1211 mln avg shrs 61 mln vs 50 mln
borealis exploration ltd said it entered into an agreement with faraway gold mines ltd of vancouver british columbia under which faraway will acquire an interest in borealiss whale cove gold property in the keewatin district of the northwest territories
december loading rose to 1965 dlrs up 45 cents before falling to around 1905 15 later unchanged from last friday
jamesway corp said its board declared a two for one stock split and increased the quarterly cash dividend by 33 pct
pakistan says good economic growth continues
eib issues 400 mln mark eurobond
both treasury secretary james baker and federal reserve board chairman paul volcker recently have warned that further declines in the value of the us dollar could jeopardize global growth prospects
the company plans to maintain a steady rate of investment in its marketing operations and to obtain improved profit margins on its liquified natural gas lng project
norway extends 75 pct oil output cut ministry
however if the political reality is that disaster aid for winter wheat farmers would be unavailable because of controversy over spring wheat then english might consider an even greater cutback in the bill they said
yesterdays bankruptcy court ruling affirmed coastals rights as a transamerican creditor to file a reorganization plan for transamerican
fmc corp fmc in peroxide venture
2nd qtr jan 31 shr loss three cts vs loss seven cts net loss 352000 vs loss 568000 revs 636000 vs 640000 avg shrs 127 mln vs 8377000 1st half shr loss six cts vs loss 10 cts net loss 594000 vs loss 865000 revs 1245000 vs 1063000 avg shrs 105 mln vs 8333000
funaro and gros last week visited washington as part of their trip to enlist support from governments for its attempts to change the means by which developing countries finance growth
the deal guaranteed by mitsui trust and banking co ltd will carry a seven pct coupon in year one rising to 844 pct in the final year
renault renapa yr ended dec 31 1986
on june 8 research cottrell said it had entered into a definitive agreement to be acquired by r c acquisitions inc for 43 dlrs per share
the deal is subject to formal approval from the swedish central bank the statement added
earlier today wedge group which has a 55 pct stake said it held discussions with pesch american medical management and other american medical shareholders
chicago milwaukees stock edged up 2 1 8 to 138 on turnover of 8100 shares as one of the biggest gainers on the nyse
oper shr two cts vs three cts oper net 529000 vs 579000 sales 3220 mln vs 1738 mln nine mths oper shr six cts vs eight cts oper net 1619000 vs 1700000 sales 8751 mln vs 4823 mln note oper data does not include extraordinary gains from tax loss carryforwards of 291000 dlrs or one ct per shr vs 316000 dlrs or one ct per shr in qtr and 890000 dlrs or four cts per shr vs 992000 dlrs or four cts per shr in nine mths
of the placements 569 mln shares will go to a number of investors and 72 mln to investment group westfield capital corp ltd which arranged northern stars purchase of news corps television assets three newspapers and three radio stations for 842 mln dlrs
both of these nations have moved rapidly into large bilateral surplus with the us and major overrall trade and current account surpluses the morgan study says
the federal energy regulatory commission ferc issued a proposed policy statement for the recovery of take or pay costs imposed by existing natural gas contracts between producers and pipelines
moodys investors service inc said the 21275 mln dlrs of debt of usair group inc and its usair inc unit remain under review for possible downgrade
asa vice president james adams told an asa sponsored outlook 87 conference it will be filed unless the ec takes drastic and immediate steps these subsidies are blatantly unfair and are gatt illegal since they were established after the zero soybean duty was established in 1962 he said
farmers can forfeit their beans to the government rather than repay the loan
at the urging of the us recording industry the subcommittee agreed to bar imports of a new japanese product digital audio recorders
he said at a news conference that any recommendation he would make would have to increase domestic production not cause widespread economic hardship and have a minimal cost to the us taxpayer
graham said he thought expectations would gradually improve later this year when the dollar might consolidate and interest rates ease slightly
williams holdings says it bidding 5422 mln stg for norcros ordinary shares
union carbide overseas finance corp nv a unit of union carbide corp said it plans to redeem on may one all outstanding 14 3 4 pct notes due may 1 1989
sorghum sales of 143300 tonnes were 25 pct less than the prior week with japan and venezuela the main buyers
however if prices hold about 18 us dlrs a barrel 1987 net operating income could show a 69 pct increase with cash flow 27 pct higher analyst plexman said
funds will be used to refinance the cost of the recent forstmann leff associates acquisition as well as for general corporate purposes
feb one end oper shr 89 cts vs 131 dlrs oper net 3348000 vs 4885000 sales 1268 mln vs 1201 mln year oper shr 167 dlrs vs 215 dlrs oper net 6302000 vs 8013000 sales 3809 mln vs 3521 mln note prior year net both periods excludes gain 1998000 dlrs from reversion of overfunded pension plans
to fitness tfit in distribution deal
the statement made no mention of net profit figures
service resources src unit cuts sorg srg stake
this is not an attempt by squibb to become a major majority holder in cetus fildes told in an interview
period
nyanganyi told on his return from a world bank sponsored donors conference in new york that the aid would enable trc to buy spares for 32 locomotives overhaul 800 wagons and replace 67000 sleepers over the next 12 months
it said the acquisition brings to 10 the number of bank branches in macomb county
shr 20 cts vs 32 cts net 1358000 vs 2476000 revs 271 mln vs 262 mln avg shrs 6852000 vs 7764000 nine mths shr 68 cts vs 105 dlrs net 4957000 vs 8129000 revs 826 mln vs 788 mln avg shrs 7316000 vs 7754000
columbia gas cg seeks contract cost recovery
helm h sells additional shares in bamberger
du plessis said the new interim debt agreement was substantially a continuation of the arrangement ending in june and calls for south africa to continue paying all interest on its total foreign debt of over 23 billion dlrs
novamin says it received proposed takeover bid from breakwater
sibson noted that the recommendation adopted by the board only applies to fixed rate dollar issues and would not have helped the floating rate sector out of its current crisis
the controls would be used during emergency
he said opec had expected to see some fluctuations in the spot price
bywater said i urge the reagan administration to take full and severe action immediately against japan by invoking the retaliatory steps that are permitted under us law and gatt general agreement on tariffs and trade
shultz told the foreign ministers of brunei indonesia malaysia the philippines singapore and thailand the us would cut its huge foreign trade deficit more rapidly than many now believed
canada sets new standby credit facility
the effect should be to rule out any us interest rate rise
shr 11 cts vs 21 cts net 563000 vs 86300 revs 288 mln vs 325 mln avg shrs 50 mln vs 33 mln
under the proposed comdata recapitalization plan the company would buy up to 10 mln of its common shares at 1325 dlrs each
however this profit recovery was due less to management skill than the fact that all canadian airlines had a good year in 1986 analysts said
speaking to the presidents export council an industry advisory group baldrige said the trade deficit issue was under discussion with those countries
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
sallie mae to price floating rate notes monday
david fleischer head of the political science department in brasilia university told the national association of higher education teachers wanted a full congressional inquiry into what had happened to government education funds
buckhorn a manufacturer of reusable plastic shipping and storage containers recorded 2051000 or 155 dlrs per share operating net loss for 1986
the securities are guaranteed by the parent company household finance corp and are available in denominations of 1000 and 10000 dlrs each
de laurentiis entertainment deg 2nd qtr loss
the bank also posted a 66 mln dlr extraordinary loss in fiscal 1986
this compares with the banks estimate of the shortage in the system of 750 mln stg earlier revised up from 700 mln
analysts expect hang seng to announce net profit of more than one billion dlrs for the first time an increase of 10 to 12 pct
what ive made plain is we expect to see action howard ruled out using powers in britains financial services bill to retaliate against unfair trade practices
poehl rebuffed recent us criticism of west germany saying the bundesbank had made a substantial contribution to international cooperation in interest and monetary policy
seismic enterprises inc seis 4th qtr loss
the figures were polled by correspondents from oil traders industry executives and analysts in europe the middle east africa latin america and asia
the government has said it will ask for another 500 mln dlr long term loan from a world bank led consultative group of multilateral and bilateral aid donors to partially fund its land reform program
the white house aide said of the tariff action it wasnt done to appease congress but because there was an unfair trade practice the aide added however on another plane it was an example of how the administration uses the trade law to fight unfair practices an that it is not necessary to make a major overall of our trade laws but the analyst crandall said the tariff action was not in the best interests of the united states and that negotiations should have been pursued to resolve the issue
whats interesting is the values are there
weston named drexel burnham lambert inc as sole manager of the offering
the spokesman said the ministers reviewed their economies and public spending domestic and european community wide
chemlawn now has about 100 mln shares outstanding
trinity industries trn and unit cut by s p
the statement added that due to technical market promotion and energetic sales by chile and peru the stock position at the end of the year remained reasonable
the deficit can be better attributed to premature and delayed foreign trade payments and receipts leads and lags rather than capital outflow to portfolio investment sarcinelli said in a statement
later that week amc said it had retained financial and legal advisers and expected to meet periodiocally over the next several weeks to consider the proposal
the debentures are convertible into the companys common stock at 2125 dlrs per share representing a premium of 2319 pct over the stock price when terms on the debt were set
wheat guesses ranged from 13 mln to 17 mln bushels compared with 168 mln bushels a week ago and 134 mln bushels a year ago
opec wants 18 dlr oil price oapec official
a ban on rice imports triggered recent us complaints about japans agricultural policy
his resignation was accepted during a meeting with president jose sarney this afternoon the spokesman said
the bank of france is generally expected to give a signal to the market possibly at the beginning of next week by announcing a quarter point cut in its intervention rate which has stood at eight pct since january 2 or in its seven day repurchase rate set at 8 3 4 pct since january 5
japan while diversifying its supply sources of propane and butane for stable supplies will continue to bank on saudi arabian lpg the sources said
investor boosts first western fwes stake
an investor group led by dart container corp a sarasota fla plastic utensil maker told the securities and exchange commission it raised its stake in texstyrene corp to 420500 common shares or 117 of the total outstanding
amfac inc said it entered an agreement to sell the last remaining store of its original liberty house of california operation to h and s san mateo inc
net foreign sales of us treasury securities by foreigners were 27 billion dlrs in the quarter after purchases of 500 mln dlrs in the third quarter
sources close to the ministry said south african negotiators had worked out a favorable agreement on repayment of 13 billion dlrs of debt after a standstill agreement expires on june 30
deposits from the public sector rose 185 mln stg in february while deposits from overseas residents rose by 43 mln
nynex nyn unit files 500 mln dlr debt offering
the money market rates are the important ones seipp said the bundesbank should move away from allocating money market liquidity at a fixed 38 pct as it has in recent tender allocations
a drexel spokesman acknowledged that his firm had underwritten the debt offering for sugarman but added we had nothing to do with tre as a matter of policy the sec routinely declines to comment on its enforcement activities
new bank rules tougher than needed dealers say
banking industry sources said the move is viewed as groundwork to establish citicorp throughout the california market well before the 1991 law change that will allow it to operate as a bank in the state
the invisible trade deficit fell to 617 mln dlrs in february from 693 mln a year earlier but was up from a 527 mln deficit in january
separately the newly formed holding company also said it named arie guldemond as chairman and harold allmacher as president and chief executive officer
in last years fourth quarter it earned 1235000 dlrs or 19 cts a share a spokesman said
non callable for seven years the issue is rated a 2 by moodys investors service inc and a plus by standard and poors corp
dealers noted that under the chapter 11 filing noteholders will receive no interest payments
noting that in the case of long bond auctions us primary dealers have as much as three months between successive sales of stock hartnell said the banks proposal was very tight nissen said that following a meeting between gemma and the bank of england on march 3 which he described as very helpful gemma submitted a note making several further residual points
shr and avg shrs data reflect 1 for 25 reverse split in november 1986
winchells donut houses lp said it has declared an initial quarterly dividend of 45 cts per unit on class a and class b limited partnership units payable may 29 to holders of record march 31
we anticipate that natural gas pipelines will need to dedicate to their systems new gas reserves for 1989 and 1990 supplies
emery said it had tried unsuccessfully to open merger discussions with purolator before the company accepted the management led buyout offer
dyecast alloy no
jim walter corp jwc regular dividend
monsod told finance secretary jaime ongpin had decided not to insist on manilas creditor banks pledging to fund half of a projected 1988 92 financing gap of seven billion dlrs
the facility which can only be cancelled after underwriters provide 61 months notice to the borrower will refinance some of mountleighs existing debt
texas commerce will retain its name as a separate subsidiary of chemical and plans to aggressively expand its holdings throughout texas offering additional products to build up its consumer banking business love said
dominion relied on the information provided by the insider jim ammeen nathan said
french retail prices rose a confirmed 02 pct in february in line with provisional figures released two weeks ago showing a rise of between 01 and 02 pct the national statistics institute said
french industrial gas group duffour et igon has decided to back the takeover bid by swedish industrial gases group aga ab agast ending a lengthy battle between rival bidders from france spain and west germany duffour et igon chairman jean igon said
analysts were generally positive on chryslers proposed purchase of its much smaller rival but said they expected the transaction would carry with it a short term dilution in chryslers earnings
sterling remained supported by optimism on the uk political and economic outlook firmer oil prices and relatively high interest rates they said
a french government team has arrived in antananarivo to negotiate a new 180 mln franc structural adjustment credit for the madagascar government diplomatic sources said
profitability has fared poorly for three years mostly because of intense competition s and p added
american motors corp said it produced 2578 us cars in march down from 5922 in the same 1986 month
long grain rice in mln cwts 100 lbs cont
boston five said the proposal calls for its holders to receive 1163 shares of the new companys stock for each share now held and for neworld bank holders to recieve one share for each share held in a tax free exchange
unisys corp uis 3rd qtr net
shr loss 131 dlrs vs loss 180 dlrs net loss 312 mln vs loss 426 mln revs 1685 mln vs 1473 mln nine mths shr loss 15 cts vs loss 432 dlrs net profit 32 mln vs loss 101 mln revs 4461 mln vs 4907 mln note all periods toher than 1987 3rd qtr are pro forma
ascensao said the court ruling stated that epacs participation in the public tenders violated the clauses of portugals ec accession treaty dealing with the gradual dismantling of the state agencys import monopoly
1987 3rd qtr and nine months includes tax loss carryforward gain of 695000 dlrs and 36 mln dlrs respectively
the january index base 1980 was set at a provisional seasonally adjusted 1904 down from 1934 in december
between february and october 1986 californias crude oil production slipped from an all time high of 1185 mln barrels per day to 1066 mln bpd guerard said
for the week ended march 29 there were an estimated 77000 boxes of early and midseason and 945000 boxes of late season oranges harvested the usda said
archer daniels adm denies rumor
the export sales would be subsidized with commodities from the inventory of the commodity credit corp and enable us exporters to compete at commercial prices in the colombian market usda said
the ten principal destinations during january november 1986 with comparative figures for the same 1985 period in brackets were in tonnes holland 201660 204391 iran 182042 181228 soviet union 163150 266389 egypt 158119 159350 algeria 116330 11492 brazil 101116 59430 south africa 94700 101062 cuba 89957 98740 united states 80109 nil india 67182 17403 the board added
the spokesman declined to give the size of the recommended price drops but said it would not be good news for western canadian grain growers
qtr ended may 2 oper shr three cts vs 11 cts oper net 333000 vs 885000 revs 149 mln vs 122 mln note latest qtr exludes writeoff of 735000 dlrs from store renovation
the company said the flat results will be due to higher than normal expenditures during the fourth quarter for expansion of its data processing capabilities
the bass group once thought by analysts to be eager to sell its holdings in taft broadcasting co emerged as another potential bidder for the ohio broadcasting company
the bond issue is guaranteed by the parent aga ab
sales of the predecessor company were 268 billion dlrs compared to 256 billion dlrs in 1985 including the sales by the operations which are divestiture candidates
shr profit 10 cts vs loss 17 cts net profit 206000 vs loss 281000 revs 102200 vs 344000
they said that it was an open secret that japans largest chip maker nec corp was not happy with what it viewed as the draconian measures miti was taking to implement the pact included enforced production cuts
the group held about six pct of harper and row
under the agreement the oil drilling equipment and oil services company will pay reduced quarterly interest payments on part of its bank revolving credit loans and industrial revenue bonds
corrected university patents inc upt 2nd qtr
bra kanon is chairman of the icco council and rumours that he or ivorian delegates might be delayed because of public mourning in the west african nation helped depress already low world cocoa prices friday
avx corp said it filed with the securities and exchange commission a registration statement covering a 75 mln dlr issue of convertible subordinated debentures
the federal government and the japanese trading company c
the central american attendees would include costa rica and honduras who were part of a minority producer group at the february talks that opposed brazils position they said
freedom federal frfeo seeks buyer
if theres that much of a discrepancy between prices for one country and another producers may be teted to get rid of their stocks of coffee by selling to non member nations and by circumventing the quota provisions said paine webber analyst bernie savaiko
mulford in his congressional testsimony urged the banks to explore different options
nothing has been firmed up yet said an official at international digital communications planning inc idc one of the groups set up last year to study competing against kokusai denshin denwa co ltd which monopolises the sector
domestic issues have slowed to a trickle as more and more companies turn to more flexible overseas markets for cash but the proposed moves are expected to pave the way for a review of public bond issues they said
however the dome spokesman indicated that the sale of dome could be finalized and announced this weekend the globe and mail said
gotaas larsen gotlf to build fifth carrier
the company said universal adhesives with five us plants has annual sales of 12 mln us dlrs which will double timmincos presence in the north american adhesives market
a company spokesman could not elaborate on the short statement
one source at a leading french sugar house said it seemed the commission had understood the protest action and was now moving towards adapting the situation accordingly thereby allowing the operators to withdraw their sugar from intervention once they got satisfaction
japan business leaders say g 7 accord worrying
the treasury received 267 billion dlrs of bids including 554 mln dlrs in non competitive bids from the public
texas petroleum acquires oil and gas properties
the additional expenses include the obligation to reimburse dynamics corp subject to approval of cts shareholders a total of 21 mln dlrs for dynamics corps expenses and other costs relating to cts
the total consideration is valued at 1056 mln dlrs
growth in us consumer spending is likely to slow to 18 pct this year from 41 pct in 1986 he predicted
another referring to the philippine debt negotiators said the only reason theyd have to come back to new york is political not economic ongpin has said as much himself estimating that an extra 1 16 percentage point would cost just 51 mln dlrs a year
on the continent shippers agreed 19 dlrs for wheat from la pallice to buenaventura and 1075 dlrs for grain from ghent to naples venice range
after the acquisition shandwicks us operating income will be comparable to that it earns in the uk rogers estimated that pretax profit in the year to end 1987 would exceed 900000 dlrs
india to get uk coal steel industry grants
as ever one of the crucial sticking points in a wheat deal would appear to be price
arco arc raises crude oil postings 50 cts
india buys palm olein at tender traders
donovan said he and cbt chairman karsten mahlmann will leave april 3 and spend two weeks in hong kong tokyo and sydney discussing the night trading session with brokerage firms regulators and exchanges
ppg industries inc will continue to show earnings growth in 1987 despite a difficult economic climate the company said in its annual report mailed to shareholders today
painewebber inc was named underwriter
contrary to predictions before the volcker resignation analysts are calling for higher currency futures prices between now and the june 8 venice economic summit
oneok inc oke 2nd qtr feb 28 net
bank of japan governor satoshi sumita said in a statement the central bank will intervene in foreign exchange markets to stabilise exchange rates if necessary in close cooperation with other major industrial nations
the bank said the initial distribution would take the form of a stock dividend of cumulative redeemable retractable class a series two preferred shares entitling holders to monthly floating rate dividends at 72 pct of prime and to 1275 dlrs a share on retraction
pentron corp said its rotational molding inc unit has purchased privately held ice creations unlimited for an undisclosed amount of cash and other considerations
opec agreed in december to cut output by 725 pct to 158 mln bpd and to return to fixed prices starting february 1
final terms on the issue will be fixed by march 16
shr 31 cts vs 53 cts net 960143 dlrs vs 1631011 dlrs revs 274 mln dlrs vs 189 mln dlrs avg shrs 3079533 vs 3096095 12 mths shr 101 dlrs vs 92 cts net 3113337 dlrs vs 2855755 dlrs revs 1065 mln dlrs vs 783 mln dlrs avg shrs 3079516 vs 3089140 note per share amounts for qtr and year prior have been restated to reflect a six for five stock split in august 1986
note 1986 qtr and year excludes investment gains of 1541000 and 1865000 respectively and 1985 qtr and year includes investment gains of 301000 dlrs and 1424000
a us defence department official in washington said the station was still functioning
shearson in the market place would probably be worth three to 35 bilion dlrs in terms of market capitalization said eckenfelder
the transaction with merrill lynch will take borg warner private in the form of a leveraged buyout
shr loss 14 cts vs profit 23 cts net loss 835000 vs profit 950000 revs 8617000 vs 118 mln
its not totally off the wall says cole
british telecom shares were last quoted at 246 1 2p level with late yesterday in the wake of results which were in line with market expectations dealers said
painewebber group inc pwg 3rd qtr net
foreign trade in the nine months totalled 942 billion roubles
the purhcase is one of a series of overseas joint ventures by which venezuela has managed to assure markets for some 400000 barrels of its approximately 15 mln bpd exports
eurosterling issues continued to rally on the back of general sterling euphoria with the uk currency trading at six month highs on interest rate optimism and the strength of the domestic equity markets
uk money market rates in a similarly calm response resumed the slightly easier trend of earlier in the morning after little more than a token blip as the figures came out
treasury secretary james baker said the administration is confident the effect of exchange rate changes will bring about a cut in the trade deficit this year
the west german economics minister today denied giving a newspaper interview which quoted him as saying the state could not continue to pour money into the countrys ailing steel and coal industries
tektronix inc tek quarterly dividend
the bank of england said it provided the market with further help totalling 166 mln stg during the afternoon
currently washington is only allowed to vote 345 pct in iadb board meetings considering loans to latin american countries
it also agreed the president may waive any retaliation if it would hurt the us economy
the southern snow cover boundary continued to slowly retreat northward and eastward it said
the debentures are not redeemable for three years numac said
american barrick abx sells ohio assets
the issue has been taken up by the british government as a test case on the openness of japanese markets
if were off the mark now because were too high wouldnt we be as much off the mark if were too low he said
chinas summer grain harvest may be good despite a serious drought because the state council cabinet has spent one billion yuan on irrigation and other anti drought work a hong kong newspaper said
in may malaysia cut output to 420000 bpd from 459000 in response to a call by opec to boost prices
asked what the us state departments policy is on offering subsidized wheat to moscow secretary of state george shultz told a group of farm leaders that us products must be competitive in the world market
of the total 400 billion yen will yield 38502 pct on sales from money houses to banks and securities houses in a 41 day repurchase accord maturing on may 19
europeans are confused about this underlined by von moltkes reference to the leadership of the maekawa report
holiday corp hia comsat cq close sale
i believe there is room for a further fall of five to 10 per cent in 1987 the united states west germany japan france great britain and canada g 6 agreed in paris in late february to stabilise major currencies around current levels
anadarko petroleum corp is raising 100 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 3 4 pct coupon and par pricing said sole manager kidder peabody and co inc
the government forecasts annual inflation will be 40 pct at the end of 1987
chronar also said it expects to report a loss for the year of about 45 mln dlrs on sales of about 12 mln dlrs compared with a loss of 513153 dlrs on revenues of 10 mln dlrs in 1985
china to open first phase of large aluminium plant
citizens financial group inc citno 3rd qtr
seven major us farm groups took the unusual step of releasing a joint statement urging congressional leaders not to tinker with existing farm law
but he stopped short of reaffirming the original us position that veto power should exist with a 35 pct vote
the june british pound closed at 16080 on tuesday
uk portfolio investment is also returning while foreign buyers see uk growth propects and high bond yields as attractive
computer memories inc which ended its disk drive operations in june 1986 agreed to acquire hemdale film corp in a transaction which will give hemdales owner control of the resulting company
the banks are likely to push for a higher margin
domes encor shares had a market value of 313 mln dlrs on march 17 1987 the companys filing said
olson industries olsn to sell egg operations
interior said oil on the coastal plain could match the 10 billion barrels found at prudhoe bay just west of the plain
the report was prepared jointly by the central intelligence agency and the defense intelligence agency for the congressional joint economic committee which released it
fw woolworth co z hikes dividend
he did succeed in buying ponderosa inc
ec to mull new durum wheat intervention rules
rl crain inc 4th qtr net
france posted a seasonally adjusted trade deficit of 400 mln francs in february after a 25 billion franc deficit in january the finance ministry said
march prices fell in german state on year ago
us census bureau figures released here showed factory and warehouse stocks on feb 28 included the following with comparisons in mln lbs 02 28 87 01 31 87 02 28 86 soybean oils crude 16633 x 15426 8937 refined 3005 x 2947 r 2874 total 19638 x 18373 r 11811 cotton oils crude 657 558 r 645 refined 1223 1096 r 1196 total 1880 1654 r 1841 x revised from preliminary data released in the bureaus oilseeds report of march 23
but he said baker now thinks 75 to 85 mln dlrs will be saved while hughes sees a saving of only 50 to 60 mln dlrs
malaysia raises palm oil export duties
us treasurys baker sees rate stability
the price was not disclosed
over the past three weeks swiss offices of american banks have launched a total of four issues of warrants with varying conditions drawing on renewed inflationary worries and the recovery of the gold price last year
coastal corp said a federal bankruptcy court will hear its request today for a restraining order to stop a two billion dlr lawsuit against it by transamerican natural gas corp transamerican which entered chapter 11 bankruptcy proceedings in 1983 to reorganise its debts filed the lawsuit to block coastal from taking control
nonetheless gorbachevs program appears too ambitious on a number of counts the report said
osr corp said it has agreed to acquire the properties and assets of telcom international group for 105 mln common shares which would give former telcom owners an 84 pct interest in the combined company
in the near term the stock market has more prospects for growth due to the mixed signals on the economy so far the slim chance the federal reserve will ease policy and still heavy debt accumulation collins said
in march private dealers will handle 2050 tonnes of pure coffee and enapal 6050 tonnes of mixtures
in short the appeal of fixed rate mortgages is that they offer an opportunity to gamble on the direction of interest rates
economic spotlight china must preserve farmland
fw woolworth co 4th qtr shr 178 dlrs vs 164 dlrs
for 1985 the company posted a gain of 143 mln dlrs on the sale of 48 pct of abbey life
a statement said the acquisition would fit perfectly into its package for the banking and securities industries
however haggard said that the us should be cautious in making soybean program changes that might allow the european community to challenge the us program under the general agreement on tariffs and trade gatt
cyacq amends cyclops offer conditions says citicorp expands financing
shr four cts vs 15 cts net 132851 vs 501537 revs 10 mln vs 155 mln six mths shr 12 cts vs 24 cts net 409383 vs 812045 revs 194 mln vs 291 mln
p young co a subsidiary of service resources corp said it signed a definitive agreement to acquire atwell fleming printing ltd of canada for about 32 mln dlrs
oper shr 30 cts vs 24 cts oper net 38686000 vs 28384000 revs 423 mln vs 312 mln year oper shr 105 dlrs vs 94 cts oper net 136594000 vs 110831000 revs 1533 mln vs 1251 mln note fourth quarter results exclude extraordinary and other items which raised final 1986 net to 62485000 dlrs or 49 cts a share and lowered final 1985 net to 18941000 dlrs or 16 cts a share in 1985
dutch cocoa bean imports rise in january
the company has not yet filed a plan of reorganization
the payroll rose by 164000 in march against analysts expectations of a 225000 gain while the labour department revised the february increase down to 236000 from 337000
the debt accord announced last friday stretched repayments of 103 billion dlrs over a 17 year period with a seven and a half year grace period and an interest rate margin of 7 8 percentage points over eurodollar rates
the tight money policy of bank indonesia the central bank is helping to keep rates high
henry kaufman managing director of salomon brothers inc said the nomination of economist alan greenspan to replace federal reserve board chairman paul volcker is bearish in the near term for the fixed income and currency markets
earnings in the first nine months were at the lower end of share analysts forecasts yesterday of a range of 600 mln to 620 mln dlrs
div pay may 1
the sullivan mine at kimberley about 450 miles east of vancouver produced 22 mln long tons of ore last year most for processing at the trail smelter
the issue is guaranteed by mitsui bank ltd and final terms will be set on april 9
moto photo moto sees better 1st quarter 1987
baker is widely thought to want a more stable currency system and darman is generally credited by officials of other nations as bakers leading theorist on this issue favouring target zones to limit currency fluctuations
the jiji press news agency had quoted bank of japan sources as telling japanese reporters the bank was deeply concerned over potential risk in yen bond trading because the market had risen too fast
graan elevator mij gem said its balance in port of grains oilseeds and derivatives rose to 70000 tonnes on march 21 compared with 10000 a week earlier after arrivals of 192000 tonnes and discharges of 132000 tonnes last week
japan unemployment falls in february
cnt issues 20 billion yen eurobond
officials expect the waterway to lose nine to ten mln canadian dlrs this year about the same as the estimated deficit for fiscal 1986 87 which ends today
the spokesman was commenting after vw had confirmed it would pay an unchanged 10 mark dividend for ordinary shares on 1986 business despite the provision
talks on the possibility of reintroducing global coffee export quotas have been extended into today with sparks flying yesterday when a dissident group of exporters was not included in a key negotiating forum
its necessary to clarify policy for internal and external reasons he said but declined to say what economic measures might be introduced
krestmark had revenues of about 40 mln dlrs and operating losses of three mln dlrs in 1986 the company said
pending development of specific proposals atlantis said it will continue to purchase additional charter crellin shares in private or open market transactions depending on a range of factors including the market price of the stock
allowing flow through shares under the program will make it easier for companies to attract investors in exploration and development masse said
the energy and commerce subcommittee on commerce approved as an amendment to the overall house trade bill a provision giving reagan the power to block sales to foreign companies if the sale was not in the national or economic interest
zuckerman told the proceeds will be used to buy stock to bring equities to 50 pct or more of the portfolio
anitec image technology corp antc 2nd qtr net
payment date is april 9 and coupon date april 10 annually with final maturity on that date in 1994
us grain carloadings totaled 26108 cars in the week ended february 21 down 22 pct from the previous week but 228 pct above the corresponding week a year ago the association of american railroads reported
the dollar was trading around its midday rate of 14230 yen
shares validly tendered represented about 9875 pct of the outstanding shares of supermarkets general the announcement said
domestic supplies will comprise 725000 of soybean oil 706000 in 1986 638000 of rapeseed oil 609000 and 235000 of other origin oils 231000
generally we feel very good about the bipartisan consideration of the trade legislation
aequitron aqtn sees 4th qtr charge
world demand for metals is growing slowly
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
british banks seek more equitable contributions on mexico package lloyds
their light sour grade is posted at 1988 canadian dlrs bbl
there are 24 managers and five participants
ec may offer intervention sugar to local market
the junk bond market experienced a short lived downturn last summer when ltvs bankruptcy filing sparked worries that credit conditions of other steel companies would also worsen
prior to the completion of the recent exploration program gordex estimated the cape spencer deposit had 200000 tons
plans call for increased imports but an official said boosting imports will be difficult as it depends on sales demand fujitsu ltd itsut will cut production in accord with miti guidelines and boost imports from currently low levels
british petroleum co plcs announcement that its us subsidiary intends to tender for the 45 pct of standard oil co srd it does not already own catapulted us oil stocks sharply higher this morning traders and analysts said
walt disney co ltd is issuing a 60 mln australian dlr eurobond due may 7 1990 with a 14 1 2 pct coupon and priced at 101 3 8 pct warburg securities said as lead manager
she emphasized however that if some charter arrangement could be worked out it would not supplant the reflagging arrangement that we worked out with the kuwaitis in both cases the ships would be eligible for us navy escort in the gulf she said
there were indications of improvement in the huge imbalance between the volume of goods imported to the united states and those shipped abroad
no bids were submitted for intervention barley
the petrobras statement said the shipment of 22 mln barrels will be made by the saudis on march 24 as scheduled
non callable for seven years the issue is rated baa 2 by moodys investors service inc and a minus by standard and poors corp
dividend pay may five record april 13
shr loss six cts vs loss 18 cts net loss 31896 vs loss 753518 revs 840075 vs 716361 avg shrs 545 mln vs 417 mln nine mths shr loss 25 cts vs loss 55 cts net loss 1271972 vs loss 2115662 revs 2071676 vs 1933562 avg shrs 502 mln vs 385 mln
management board member hans baur told journalists that the acquisition of a joint 20 pct stake in cgct by at and t and philips gloeilampenfabrieken nv pgloas had not been decided on two years ago as claimed by at and t
man to buy into hong kong firm
the reagan administration has objected to brazil protecting its computer industry from imports
i expect to see the shutdown of more small refineries over the next five years he said adding that these facilities refine between 10000 and 30000 barrels of crude oil per day
we wanted to remove our clients from the process unfolding between gencorp and wagner and brown he said
there was a widespread feeling that both the commercial rand holding stable at 48 cents and the financial rand were staying firm banking sources said
skyline corp sky 3rd qtr feb 28
the company said it also asked the court to award jwt unspecified damages
but the bank had reported a 1986 pre tax profit of 65 mln lira
crude oil which early last year slipped below 10 dlrs a barrel has since crept back to over 18 dlrs
the bank also bought 400 billion yen in two month commercial bills to smooth out tight credit conditions in the interbank market today the officials said
british wheat area down ministry census shows
ultramar 1986 net loss 621 mln stg vs 716 mln profit
proceeds also may be used for working capital reduction of short term debt and capital expenditures it said
ing pointed out that the tse gold index has gained 51 pct since december 31 1986 while the price of bullion has increased six pct
we do not have current plans to make any major adjustments or changes in our pricing said bob sindt usda assistant deputy administrator for commodity operations
the facility is only being syndicated among bps relationship banks and therefore has large individual commitments from the banks
but under the 1987 plan the government will not pick up the tab for storage
shr profit 32 cts vs profit eight cts net profit 936000 vs profit 249000 revs 348000 vs 1150000 year shr loss 215 dlrs vs loss 19 cts net loss 6095000 vs loss 469000 revs 1554000 vs 4254000 note results include credits of 556000 and 1141000 for the latest qtr and yr vs 112000 and 656000 for prior periods from tax loss carryforwards
but few economists believe the government will be able to go through with its tax measures without increasing net borrowing
the bonds which are non callable are rated a 2 by moodys investors service and a minus by standard and poors
shr profit 63 cts vs 22 cts net 775868 vs 276446 revs 2255742 vs 706130
etl is the third group to become involved in a possible acquisition of monier this year
shearson has agreed to provide bridge financing of up to 600 mln dlrs for the edelman group
philip braverman of irving trust securities inc believes banks will snap up the two and four year issues at this weeks sales
japan business decline seen bottoming out
in its world production and trade report the department said total south korea corn imports for the 1986 87 season oct sept are estimated at 43 mln tonnes with about 34 mln tonnes from the united states
non callable to maturity the issue is rated a 1 by moodys and aa minus by standard and poors
he said the company was on course for independent recovery and was expected to reduce its losses further in 1987
at the time it said it was reviewing its alternatives
the probe began in february 1986 allegheny said
the extended decline in japans overall business performance was likely to bottom out in the current january march quarter the finance ministry said
deutsche babcock ag dbcgf will increase its dividend on results in the year ending september 30 1987 chief executive helmut wiehn said
knight ridder inc krn sets quarterly
bp credit facility substantially oversubscribed
emerson radio corp said it has sold 10 mln dlrs of eight pct senior notes due march 1992 to a major institutional investor it did not name
baker says latins balk at us iadb compromise
he noted that brazil is a country with a diversified economy going through some economic upheaval after the transition from a military to a civilian government
other terms of the accord call for chrysler to give renault a 200 mln dlr eight pct note due in 10 years and 35 mln dlrs in cash for its american motors interest
in an interview with lyng also acknowledged he was troubled by the prospect that the export enhancement program eep could prove so indispensable to boosting us exports that the us would have difficulty abandoning it
new york bank discount window borrowings nil in march 11 week
as the government had to buy back some of the coins from retailers because they were unsold the governments contribution to the economy in the fourth quarter may have been boosted economists said
hawkins said the merger has been assessed by independent consultants and declared fair in all respects with benefits to all shareholders
exports to the ussr were substantially down in january at 362000 tonnes from 489000 in january 1986 but other comecon countries received 210000 tonnes against 80000 tonnes in the same month last year figures received by the iso show
but many investors have still shied away from the debt remembering the mid 1986 downturn of the australian and new zealand dollars analysts noted
wallace computer services inc said it acquired for 12 mln dlrs in cash and industrial revenue bonds certain assets of rockwell barnes inc a chicago based office products company
the following proposed securities offerings were filed recently with the securities and exchange commission northern trust corp ntrs shelf offering of up to 150 mln dlrs of debt securities including senior and subordinated securities on terms to be determined at the time of the sale through goldman sachs and co
qtly div 35 cts vs 35 cts prior pay april 15 record march 31 note winthrop insured mortgage investors ii
the partnership said gencorp failed to say how it would provide a superior value yet they continue their attempt to prevent a satisfactory offer by failing to redeem their poison pill poison pills are shareholder rights plans that make takeovers more expensive
cotton planting progressed in the lower valley
mthly div 36 cts vs 36 cts prior pay march 13 record march two
the report said inflation should slow and domestic demand pick up in the second half of this year
dealers noted that strong demand had been detected for the bonds yesterday afternoon and interest was further stimulated by sterlings surge at the opening this morning
melvin sims usda general sales manager told he did not anticipate any plywood would be included in the sales but that its possible it would be plywood in the past has not been eligible for gsm 102 credit guarantees because it is considered by some to be a manufactured product
a senior brazilian debt negotiator antonio de padua seixas has offered to resign from his post as director for external debt management at the central bank a bank spokesman said
national bank economic data for 1986 shows that yugoslavias trade deficit grew the inflation rate rose wages were sharply higher the money supply expanded and the value of the dinar fell
tokyo optical co ltd is issuing a 40 mln dlr equity warrant eurobond due april 27 1992 paying an indicated coupon of 2 1 4 pct and priced at par lead manager daiwa europe ltd said
ec industrial production growth halts in january
bids amounted to 19115 tonnes against offerings of 31528
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
at present it can only issue coins of 500 yen or less
the treasury said it reserved the right to close the issue early
that is 30 basis points more than the yield of comparable treasury securities
to 375 of the voting rights from 289 pct
but since then wall street has been speculating that american brands would find another candidate to help reduce its earnings exposure to tobacco
hogan said systems 4 provides integrated applications software and processing services to about 30 community banks
grain mill product loadings in the week totalled 11382 cars down 18 pct from the previous week but 76 pct above the same week a year earlier the association said
plum holding inc starts hoilly sugar hly bid
to be eligible for the credit guarantee coverage all sales under the new line must be registered and exported by september 30 1987 the department aid
baker hughes said the total of 758 working rigs in the united states included 84 rigs working in offshore waters
all these matters would be considered during the informal meetings
technodyne inc tnd 2nd qtr net
the company said about 15 mln dlrs of the proceeds will be used to pay debt and the balance for general corporate purposes
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
emerson radio eme sells notes privately
oil industry sources said this structure was now likely to be streamlined further into five refining groups
the selling concession is 1 1 4 pct while management and underwriting combined pays 3 4 pct
shr loss 270 dlrs vs loss 25 cts net loss 606 mln vs loss 3122000 revs 1010 mln vs 1677 mln note 1986 includes charge of 441 mln dlrs due to writedown of oil and gas interests writeoff of goodwill and patents provision against disposal of surplus inventory losses on disposition of operating units and writedown of assets held for disposal
the company said it will make the proposal to shareowners at its annual mmeting may 6 in dothan ala near the companys great southern paper division operations
the surplus is expected to fall further in 1987 the statement said but gave no details
he said it was too soon to say what the administration policy on oil tax incentives would be and indicated there would be opposition to tax changes
while happy to invest in bonds and other vehicles yielding interest unobtainable elsewhere fund managers could just as easily reverse the flow particularly the japanese who were badly hurt in the past by rapid falls in the australian dollar and hefty jumps in bond rates analysts said
now it sees that figure at 15 cts a share or about 15 mln dlrs
gasekt co mrgc 3rd qtr dec 31
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
oper shr profit 34 cts vs loss 53 cts oper net profit 3337000 vs 4881000 revs 327 mln vs 496 mln year oper shr profit 20 cts vs loss 90 cts oper net profit 2374000 vs loss 9381000 revs 1269 mln vs 1605 mln notes operating net excludes loss 6050000 dlrs or 64 cts a share vs loss 24839000 dlrs or 261 dlrs a share in quarter and loss 6050000 dlrs or 64 cts a share vs profit 64013000 dlrs or 627 dlrs a share from discontinued operations 1986 loss from discontinued operations includes 60 mln dlrs charge equal to 64 cts a share to provide for additional liabilities resulting from the 1981 closure of lead zinc and silver mining smelting and refining business 1986 year operating net includes pre tax gain of 53 mln dlrs equal to 56 cts a share from pension plan termination and gain of 52 mln dlrs or 56 cts a share from reduction in deferred taxes effective jan 1 1987 company changed oil and gas accounting to successful efforts from full cost increasing 1986 year net 92 mln dlrs or 98 cts a share and increasing 1985 loss 43 mln dlrs or 43 cts a share
dry weather pushed further into south africas orange free states maize triangle in the week ended march 14 the joint agricultural weather facility of the us agriculture and commerce departments said
wagner told a news conference that last years 343 pct rise in net profit from 1351 mln in 1985 was largely due to greater domestic business and wider margins on schilling interest rates
the world bank believes the baker initiative is the best approach he said
the cumulative trade deficit narrowed to 209 billion dlrs from 221 billion and the services deficit to 225 billion from 275 billion but the transfers deficit widened to 503 billion from 436 billion
american express cos plan to sell a stake in its shearson lehman brothers is believed to be a prelude to a public offering of shares in the brokerage unit analysts said
carolina power said the status of the unit had been under review because of a decision by the north carolina environmental management commission that would have required the unit to be equipped with expensive sulphur dioxide removing scrubbers
bernstein and co inc
rebates of up to 130 ecus per tonne were requested for a total of 55000 tonnes maize and up to 131 ecus for 105000 tonnes the sources said
banks and mutual funds have cash that should be put to work so the auctions should breathe some life into the market said economists at merrill lynch capital markets inc
imports of us corn have fallen due to increased sales from china and south america while japanese soybean imports from brazil are expected to rise sharply this year although the us will remain the largest supplier
the sale sharply undercut the us offer of 112 dlrs per tonne fob for 33000 tonnes of wheat it said in its latest report on export markets for us grains
the rating service cited continued difficulties among royal bank customers particularly in the energy industry a continued high level of loan losses expected this year and relatively high sovereign debt exposure in relation to common equity
local interest in the sydney treasury bond contract may also flare if the sydney exchange establishes a three way link with chicago and london traders in sydney said
it said accumulated inflation for the first five months of this year was 338 pct against 241 pct for the same period in 1986
petersburg published by gulf coast newspapers inc
cash in hand was now about 50 pct of the next three years anticipated net requirement and comprised 25 pct of outstanding debt and 66 pct of its debt maturing within five years
production in the manufactured goods industry has been falling since mid 1986 and will decline by between one and two pct this year after a 25 pct increase in 1986 the ifo economic institute said
uk gilt market turnover eases in february
a chemlawn spokesman said further details on the merger would be issued later
as to differentials ghana apparently wanted a higher differential for its cocoa than is outlined in the most recent proposal so it would have a better chance of having its cocoa bought for the buffer stock producer delegates said
southmark owns about 37 pct of pratt hotel
billiton and suralco owned by us conglomerate alcoa aas both want devaluation and lower wages welfare contributions taxes on bauxite and energy prices
gm gm unit offers 500 mln dlrs of notes
the caribbean export credit bank scheduled to begin operations january 1 1988 will be headquartered in barbados
cameron smail said commercial union decided on having the financing denominated in ecus because it is more stable than most major currencies and because it would give greater flexibility in its financings as it expands operations abroad
net includes gain from sale of mortgage backed securities and loans of 124 mln vs 934 mln and 1397 mln vs 2640 mln in nine mths 1987 vs 1986
non callable for two years the debt is rated ba 2 by moodys investors service inc and bb minus by standard and poors corp
oecd agrees export credit reforms
it also gives a premium of 91 pct over pioneers last reported net tangible assets per share csr said
some trust bank pension fund acccounts and investment trusts were seen selling several hundred million dollars on the foreign exchange market here today accentuating the units tumble securities house dealers said
treasurys baker says new money not debt panacea
with 81 pct of the membership voting 545 pct voted no and 455 pct voted yes the union said
a total 118350 tonnes of current series white sugar received export rebates of a maximum 46496 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
holiday corp hia to redeem two bond issues
university of missouri agricultural economist glenn grimes said the probabilities are high that in order to place that many cattle on feed they feedlot operators had to go to lighter weight cattle
he said the budget deficit would be fully covered by loans government deposits and other sources
they need to show their commitment and their ability to finance
gorbachevs policies to improve worker attitudes remove incompetent officials reduce corruption and alcoholism and modernize the countrys industrial equipment accounted for some of the gains the report said
ecolab ecl starts bid for chemlawn chem 
amoco raises most crude postings 50 cts today wti to 1900 dlrs
six leading industrial nations agreed under februarys louvre accord to stabilise currencies and coordinate monetary policies
ici ici seeks gains in specialty businesses
traders said this is partly due to secondary smelters buying ingots to supplement feed supplies affected by environmental controls which put restrictions on the transport of used batteries
brierley investments overseas nv is issuing a 100 mln dlr eurobond due april 30 1992 paying 8 1 4 pct and priced at par lead manager banque paribas capital markets said
goldman sachs and merrill lynch co managed the deal which was the metropoliss first foray into the yankee bond market in 20 years underwriters said
in addition the board allocated 375000 dlrs in use in pork the other white meat campaign according to a pork board spokesperson
stoltenberg and bundesbank president karl otto poehl said the importance of the paris agreement also known as the louvre accord had been underestimated
nippon which has no plans to restore output to the 48000 tonnes a year at which it was working until late 1986 will become japans only smelter
dome currently is seeking to restructure about six billion canadian dlrs 45 billion us dlrs in debt which it took on several years ago when oil prices were high and the company wanted to expand
nigeria is hoping that further bilateral accords can be concluded soon as this could encourage official export credit agencies to renew insurance cover for exports to nigeria
the markets are in a panic stephen marris of the institute for international economics in washington has been warning for a long time that the controlled decline of the dollar since peaks of 347 marks and 264 yen in february 1985 could turn into a nightmare
which conducted the survey said the study grew out of concern that mergers and acquisitions had seriously hurt the economic climate of northern california
shr profit six cts vs loss nine cts net profit 101000 vs loss 142000 sales 126 mln vs 8736000 year shr profit 134 dlrs vs profit 102 dlrs net profit 2122000 vs profit 1611000 sales 523 mln vs 419 mln
bell petroleum services inc said it agreed to begin talks with regal international inc to form a plan of reorganization under which bell would become a subsidiary of regal
the bank of japan will continue to adhere to a system of policy coordination based upon the louvre accord of february he said
citrosuco and cutrale officials were not available for comment
exports to japan fell 23 pct to 128 billion and imports 244 pct to 214 billion
national beverage corp said it agreed to acquire privately held faygo beverages inc for an undisclosed amount of cash
zimbabwe exports a wide range of meat products to neighbouring states and some 8000 tonnes of high grade beef to the european community annually worth about 48 mln us dlrs
the spokesman told by telephone from brasilia that seixas had offered to resign last week but the government had not yet responded
seaman furniture co inc said its board declared a two for one split of the companys outstanding stock
in march ecuador said it would suspend interest payments for the rest of the year because of an earthquake which halted the export of oil which accounts for about 75 pct the countrys export revenues
habbel said turnover in 1986 rose to 99 billion marks from 96 billion in 1985 and looked certain to rise to over 10 billion this year
treasury corp of nsw issues australian dlr bond
analysts said they had estimated 1987 net at 300 400 dlrs and were now looking for at 250 dlr to 280 dlr range
freight rates on the gulf japan grain route have subsequently been the main beneficiary of current chartering conditions with very few if any panamax sized ships left for the remainder of this month in the gulf
the amendment said twa reserves the right to seek control of usair in the future that it intends to maintain its 15 pct stake and that it also is seeking the flexibility to acquire up to 25 pct of usair
company officials unveiled the following plans nec corp nesit japans largest chipmaker plans to slash production of 256k dram semiconductors by 2941 pct to six mln per month from a monthly average of 85 mln last quarter
bra kanon said that his country would strive to diversify its agricultural production to avoid beeing too dependent from world market fluctuation
cannon can audit to show significant 1986 loss
within the world there are enormous changes taking place in attitudes of different banks he said the banks were no longer flush with funds from the post 1973 oil boom and were reluctant to lend money
period ended september 26 shr 28 cts vs 14 cts net 3300000 vs 1300000 sales 247 mln vs 112 mln avg shrs 11871751 vs 9398952 nine mths shr 76 cts vs 35 cts net 9000000 vs 3200000 sales 693 mln vs 320 mln avg shrs 11833883 vs 9059692
the spokesman said talks were still ongoing with the two other striking locals representing 600 office and technical workers
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 weekend television interview
it also said the agreement includes an initial purchase of 173 engines by the us marines under a program that will result in a fleet of 560 m1 tanks
government bond prices initially firmed but the market was muted as traders worried about the funding implications of another huge rise in reserves they added
the company said the shares may be converted into common stock through april 30 at 1818 common shares per preference share
until 1983 the policy of the irish government was to was to adopt a neutral stance in any realignments within the ems
it said the buyback offer expires april eight unless extended
after completing the city commercial acquisition and four other acquisitions having combined assets of 248 mln dlrs first union will have assets of 286 billion dlrs
g 6 wants to hold dlr above 150 yen nakasone
but it warned that the key to an improvement in the economy was higher domestic demand which is only forecast to rise by 25 pct this year and 275 pct in 1988 below 1986s 37 pct
american motors amo statement qualified
the pioneer group inc said its 70 pct owned teberebie goldfields ltd venture has been granted an additional concession of land in ghana to look for and mine gold
volcker warned it is not sustainable from an economic perspective to pile up foreign debt while failing to make the investment needed to generate growth and earn the money to service the debt
freedom federal frfe sets initial payout
the number of spanish registered unemployed rose by 15608 to 298 mln or 215 pct of the workforce in january in the sixth consecutive monthly increase the labour ministry said
gdp is the total value of goods and services produced by an economy but omits income from abroad
any trader should recommend his bank against joining the deal said a dealer
chandler itself was set up in the isle of jersey in the middle of last year as a partnership whose members have been involved in financial markets
dale burdett inc said it faces damages claims totalling about 420000 dlrs from the former owners of burdett publications inc
the 6 7 8 pct series preferred stock will have a mandatory sinking fund in the amount of 100000 shares in each year commencing on april 1 1993 calculated to retire the issue no later than april 1 1997
gabelli said he also proposes that management consider spinning off all assets other than the gencorp broadcast properties to shareholders
the ec commission charged that ec producers did not have the same possibilities for defending themselves before the itc as they would have in a normal us court
the malaysian rubber futures market freighting and contracts for rubber are among other issues expected to be discussed
nj nicholas jr president and chief operating officer of time inc told security analysts the company is now engaged in talks to join a consortium of cable companies that will invest in cable news network
the philippines has so far drawn three tranches totalling 58 mln sdrs from the arrangement expiring on april 23 1988
the trade missions would seek to generate interest in the us governments food donation and commercial programs pl480 section 416 export credit and export enhancement and upon return be required to advocate extension of concessional or commercial benefits to interested countries
bank rate is set 1 4 percentage point above the average yield on the weekly issue of 91 day treasury bills
jaguar starts selling xj 6 in the us in may and plans to sell 25000 of its total 47000 production there in 1987
the company also said actions initiated during 1986 to restructure and improve efficiency should continue to show benefits in 1987
nova nvaato not planning dome dmp bid
ordinary capital resources ocr lending to indonesia was 36 billion dlrs 271 pct of ocr loans at end december 1986
burdensome supplies have pressed the market down from 130 dlrs a pound in february when the organizations discussions aimed at re establishing export quotas broke down
in the last three months money stock grew at an annual rate of seven pct down from 10 pct in the previous quarter
cable says consortium proposals not acceptable
cash flow was strong and the gross debt to equity ratio dropped to 41 pct from 51 pct
brazil had the third largest trade surplus in the world funaro said although its share of international trade was only one pct
specialty stores generally have higher sales per square foot than general merchandise stores
brown forman inc said its board has approved a three for two stock split and a 35 pct increase in the company cash dividend
the new tranche of intervention grain is unlikely to satisfy demand they said and keen buying competition for supplies in stores is expected to keep prices firm
the partners also said if they acquire gencorp they would also proceed with the proposed sale of khj tv in los angeles to walt disney co dis rko general would receive 217 mln dlrs and fidelilty television which challenged the license would get about 103 mln dlrs
they are non callable for life
last march dome suspended payment of dividends on all preferred shares until june 1 1987
baldrige to launch far east trade drive
southeast banking corp stb sets quarterly
foreign companies are taking up positions in the domestic economy and it is it vital to secure a market share abroad
japans only current financial futures market in yen bonds began on the tokyo stock exchange in october 1985
final terms will be fixed on april 15
house speaker jim wright a texas democrat is one of the most influential proponents of aid for specific industries beset by low priced foreign competition
the federal open market committee at its february 10 11 meeting voted nine to one to maintain the then existing degree of reserve restraint minutes showed
government securities outstanding fell 424 mln dlrs to 22738 billion dlrs in week ended june 17 treasury bills rose 700 mln dlrs to 7800 billion dlrs and canada savings bonds fell 121 mln dlrs to 4245 billion dlrs
taiwan buys 54000 tonnes of us soybeans
there was nothing ominous the fed couldnt have waited until the start of the new statement period today
the yen dollar exchange rate has been moving in a narrow range since finance ministers of britain canada france japan the us and west germany reached the accord
under the plan holders of existing common would hold about 15 pct of the restructured common stock
representatives of asa met earlier this month with usda but haggard said usda officials gave no indication if they would seriously consider offering a marketing loan
arco acr sells two operations
it was in response to strong representations by the potato marketing board pmb complaining of a gross distortion of price which they say will result in large deliveries into the physical market when the april futures position expires
lukman who was speaking during talks with swedish trade officials said the stable price depended upon output restraint by both opec and non opec oil producers swedish government officials said
atcor atco says outlook depends on steel
extraction of iron ore should show an annual growth rate of nine pct and reach seven mln tonnes by 1990 under the program
pancontinental operates gold and coal mines in australia and natural gas and oil fields in canada
abbott laboratories 1st qtr net shr 62 cts vs 52 cts
the 5151 pct february bond issue yield was itself a record low
fees total 1 3 4 pct with 1 1 8 pct for selling 3 8 pct for underwriting and 1 4 pct for management deutsche said
its the purest play and benefits most from higher copper prices one said
in all of last year magnetic earned 996000 dlrs after a loss from discontinued operations of 359000 dlrs on sales of 6084000 dlrs
he told the australian petroleum exploration association apea annual conference there was a prospect of developing a package that would recognise the governments economic priorities while also meeting some of the industrys concerns
earlier today london and paris traders said they expected the subsidy for the current season whites campaign for licences to end july to be between 4300 and 4345 ecus per 100 kilos
murphy oil mur raises crude postings
standard oil srd sees boost in 1987 cash flow
exxon xon cuts heating oil barge price
john h
fw woolworth co z 4th qtr jan 31 net
he said indonesia is expected to export a substantial amount of coffee this month without such restrictions
rotterdam signs cooperation agreement with tokyo
however they said an all out trade war may be far off as ec states know they would suffer almost as much as japan
funds averaged 612 pct in the week to wednesday up from 606 pct in the prior week
last week three exchanges currently trading on the baltic exchange the london potato futures association the gafta soya bean meal futures association and the london meat futures exchange instructed legal advisers to implement a merger
k mart corp said it agreed to sell most of the us kresge and jupiter stores to mccrory corp a subsidiary of privately held rapid american corp
proceeds from the offering which will be combined with the sale of another 17775 mln dlrs of debt securities already registered with the sec but unsold will be used for general corporate purposes including repayment of debt and loans or investments to its subsidiaries the company said
oil stocks on land in the united states and canada were put at 2066 mln tonnes down from the 214 mln tonnes on january one and equivalent to 94 and 98 days of consumption respectively
dutch port union calls off general cargo strikes
us analysts expect the american petroleum institutes weekly report on oil inventories to show a slight build in us stocks of gasoline for the week ended may 29 oil traders and analysts said
processing costs are rising and the economic situation of nearly all the mills is not good
a further 500 mln marks would be accounted for by increasing the level of special depreciations for small and medium sized companies
international technology corp said it has purchased western emergency services inc in a pooling of interests transaction
current management of the division will remain
colonial clbga to acquire pensacola bank
other prime rates now range from 16 pct to 175 pct
nogales said bolivias net international reserves are around 250 mln dlrs up from one mln dlrs when president ictor paz estenssoro took office in august 1985
the plan outlined by us treasury secretary james baker 18 months ago stalled because commercial banks balked at the idea of lending additional money ongpin said
well production will be royalty free for five years with initial allowable rates expected to be in the range of 150 barrels a day the company said
traders said this means the export registration price will change more often in a truer reflection of market trends
us corporate finance bank paper pressured
kuwait is better placed than any other opec country to ride out the oil glut bankers and economists say
the debentures ratings of b 2 by moodys and b minus by s and p were left unchanged on friday
in addition houston metals said the weighted average of 25 diamond drilled holes 375 ft below the 2600 foot level and 800 ft along the strike assayed gold at 237 oz per ton silver at 1091 oz per ton and zinc at 899 pct
home shopping network inc filed with the securities and exchange commission for an offering of 400 mln dlrs of convertible subordinated debentures due april 1 2002
shr primary 88 cts vs 83 cts shr diluted 84 cts vs 78 cts net 8869000 vs 8176000 avg assets 262 billion vs 242 billion deposits 206 billion vs 180 billion
an estimated 200000 barrels per day of residual fuel went into the utilities market at the expense of natural gas last year when world oil prices plunged smolinski said
a us commerce department spokesman said the agency would have no comment on schlumberger ltds announcement that it had terminated an agreement in principle to sell its fairchild semiconductor corp unit to fujitsu ltd
missouri republican senators john danforth and christopher bond have introduced a bill that would allow wheat and feedgrain producers along the mississippi and missouri rivers hurt by flooding last year to collect at least 92 pct of their deficiency payments this year without planting
cyclops corp said it has reconstituted its board to include three dixons group plc executives following dixons acquisition of 83 pct of cyclops 4061000 shares in a 95 dlr per share tender offer
although reports of actual cattle weights are difficult to obtain industry sources in the west and southwest acknowledge that lighter cattle are being put on feedlots in their areas
the securities will be listed on the luxembourg stock exchange
it regards a stable exchange rate as its main target using interest rate policies to influence the exchange rate
the domestic index marked its largest year on year drop of 71 pct in january since the central bank started compiling such statistics in 1960 under its current system
the company did not identify the parties that made the inquiries but it said they had been referred to its investment bankers tucker anthony and rl day inc for study
eli lilly and co said its board approved a plan to buy up to 23 mln shares of its common stock to offset dilution from conversion of its 10 year notes issued in connection with the acquisition of hybritech inc in march 1986
share adjusted for 10 pct stock dividend in february 1987
mine safety appliances mnes to sell unit
he said he sees a decrease in the tax rate in 1988 of five or six percentage points
shr 24 cts vs 26 cts net 959000 vs 1033000 assets 2736 mln vs 2363 mln deposits 1836 mln vs 1739 mln loans 1333 mln vs 1049 mln note full name of company is woburn five cents savings bank
a fed spokesman said that all of the borrowings were made yesterday by fewer than half the banks
philippine long distance phi year net
partnership increases gull gll holdings
output of crude for the previous 1984 85 harvest was 82 mln tonnes
livestock dairy and poultry producers have been lobbying usda hard to have their products covered by the amnesty provision farm industry sources said
bangladesh forecasts gdp growth of 44 pct
merrills prime 1 commercial paper was not under review
the new price for unalloyed ingot is 645 cents a lb while the new price for extrusion billet is 725 cents a lb
it added that it has also considered but not yet decided to buy additional atcor shares either in the open market in private transactions through a tender offer or otherwise
the stock is being offered at 2250 dlrs per share the company said
in addition beesley urged congress to immediately take steps to reassure borrowers from the system that their stock is secure
with official arrivals figures for the 1986 87 temporao and main crops totalling over 61 mln bags and over seven weeks still to go to the end of the year the total outturn should be at least a record 65 mln bags if all production is declared the sources said
consumers and producers agreed yesterday on the principles as a basis for negotiations
the minimum accepted price was 9550 pct with a 913 pct yield while the average price was 9569
at current market levels it would suffer a 70 mln dlr aftertax loss on its holding a spokesman said
delegates from the national pork producers council nppc yesterday approved programs for control and eradication of pseudorabies and establishment of a national safe drug use program
a new convoy of tankers escorted by american warships headed down the gulf on wednesday towards iranian oil platforms still oozing smoke after having being blasted by us navy raiders
also bill may chairman of argosystems and three other officers have granted boeing an option to buy their shares another 89 pct of the outstanding stock for 37 dlrs a share
penn traffic co pnf 4th qtr jan 31 net
he said that if olivetti were approached by the two partners involved and the financial conditions of any proposal were considered interesting the company did not exclude the possibility of investing in the venture
the company said sales for the first nine weeks of its fiscal year were up 14 pct to 858 mln dlrs from 751 mln dlrs a year before with same store sales up four pct
outsiders like the world bank are reluctant to suggest possible solutions to brazils economic problems because of the delicate political situation there he added
gambro ab gamb st 1986 year
plains resources inc plns year loss
the violations were worth 100 mln dls to the japanese semiconductor industry they said
tenders were accepted for 220 billion dlrs of 91 day bills at an average price of 97963 dlrs against 97965 dlrs last week
the company said the sale which will be explained in greater detail after the definitive agreement has been signed is part of footes previously announced plan to sell the entire company
but eyskens said this coordination raised a whole range of technical problems and ministers would discuss these further in luxembourg in june on the basis of proposals from the ecs monetary committee and committee of central bank governors
the net effect of the boards recent ruling was to reduce the companys rates by 159 mln dlrs moodys said
bank spokesman arne lund said we could not do it earlier because it was not possible for the tax authorities to say if the certificates were liable to stamp duty or not he said the issue should be assisted by high short term interest rates
he said the opec price differentials committee meeting formerly postponed to april had been put off indefinitely
the company said it granted the special bonuses which take effect only if an executive is fired within two years of a successful takeover on june 8
brown disc products co inc a unit fo genevar enterprises inc said it has purchased the ongoing business trademarks and certain assets of rhone poulencs brown disc manufacturing unit for undisclosed terms
earlier this month the ministry approved a plan to expand the securities industrys share in the syndicate to 262 pct from 26 pct from april to allow six foreign securities firms to participate he said
chilean left wing leaders were elected by the copper workers union for the first time since the left wing government of salvador allende was overthrown in a 1973 coup
xebec corp said it expects to report a loss for its second quarter ended april three due principally to a decline in sales to international business machines corp ibm the companys largest customer
gynex inc said distributor monsanto co mtc has recalled at gynexs request two generic oral contraceptives developed by 50 pct owned gynex laboratories inc because some packages may contain out of order or missing tablets
purchases rumored today were seen as a positive factor in light of a soviet trade officials statement that the previous purchase had satisfied near term needs
amoco canada president t
the bank of england said it provided about 25 mln stg in late help to the money market bringing the total assistance today to 266 mln stg
the events we sustained yesterday and the day before are a very serious setback for gaspe mines operations lefebvre said
the japanese finance ministry is expected to approve the deal in april making nippon life the first japanese life insurance firm to take a stake in a us financial firm
underwriters may include salomon bros inc and merrill lynch it said
in a letter to treasury secretary james baker the group said sanctions should be imposed against japanese chipmakers as of april 1 and continue until the us is satisfied there is full compliance with the agreement
period ended may 31 shr 181 dlrs vs 145 dlrs net 113752000 vs 90902000 revs 112 billion vs 120 billion note full name is general public utilities corp
this year will see a pickup in us economic growth and inflation the shadow open market committee said in its semi annual policy statement
the diw and ifo said rises in employment would occur only in the tertiary sector while the number employed in the manufacturing industry will decline the diw and ifo said unemployment would only decline to 220 mln in 1987 from 223 mln in 1986
mthly div 77 cts vs 77 cts prior pay march 13 record march two
the operation will put the outstanding bill supply at about 3200 billion yen
he added that wessanen teams were seeking acquisition possibilities in brazil taiwan thailand and china
the report said a decline in economic growth as a result of the fee would reduce tax revenues
rigaud said hascos closing at a minimum would affect 280000 to 300000 people
this compares with the banks forecast of a 300 mln stg shortage in the system today
asked if south korea would retaliate against us goods if congress closed us markets to its products he said at this moment we have no thought of retaliation south korea is a major exporter to the united states of textiles and apparel and electronic goods such as television sets video cassette records and personal computers
a cut in the discount or lombard rates to bring them in line with the new structure of money market rates since last month would have little practical significance dealers said
jp morgan and co inc parent of morgan guaranty trust co of new york said that it will place 13 billion dlrs of medium and long term loans to brazil on a non accrual basis matching similar action by bankamerica corp bac earlier today
its still possible well have to close the smelter a national southwire spokesman said
but in the longer term domestic yields could rise under agreements to stimulate west germanys economy they said
county savings bank said its board declared a five pct stock dividend payable april 10 to shareholders of record today
the prospects for an end to the droughts vary accu weather said
cable and wireless plc cawll said proposals to resolve a dispute over entry to japans telecommunications market were not acceptable
but usda officials for the most part have abandoned the contention the proposal is dormant suggesting that an offer while not a done deal is a live possibility
three month interbank dinar deposits were quoted today at about 687 587 pct
todays meeting set to begin at 1500 est 2000 gmt was scheduled at the request of the exporters the aide said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the companies said they agreed not to pursue the merger because several actions recently taken by ambrit would mean substantial delays in completing the deal
qtly div 30 cts vs 30 cts prior pay april 30 record april three
lincoln foodservice products inc said it completed purchasing certain assets of redco product line of food slicers cutters and wedgers from the dean alco food prep division of alco foodservice equipment co
but he said the government does not expect to be able to reduce its arrears this year
licht sees rise in european beet area trade
citruspulp usage dropped 628 pct to 149000 tonnes from 400000 tonnes while rapeseed and meal usage rose 96 pct to 217000 tonnes from 198000 and sunmeal rose 256 pct to 216000 tonnes from 172000 tonnes
analysts said that if dart buys supermarkets general it would probably divest the companys operations
jamaica bought us corn wheat and rice at its tender earlier this week using pl 480 funds a us department of agriculture official said
japan cabinet approves bill on gold coin issues
bhp co ltd net profit 6030 mln dlrs first three qtrs vs 8130 mln
reserves were reported to have dropped below four billion dlrs
income tax rate for year 459 pct vs 341 pct due to abolition of investment tax credits
ford motor credit co f is raising 200 mln marks through a five year eurobond with currency warrants attached carrying a coupon of 5 3 4 pct and priced at 116 3 4 lead manager deutsche bank ag said
atoka currently operates a 20 mile natural gas pipeline of 46 miles in length in southeastern oklahoma
gasoline prices rose 42 pct last month after increasing 66 pct in january but were still 18 pct below levels of a year ago the department said
the office of finance of the federal home loan banks announced a debt offering totalling 255 billion dlrs consisting of three issues
forest city enterprises inc said it completed the previously announced sale of assets of its retail store division excluding real estate to handy andy home improvement centers inc a private gurnee ill firm
a multinational shareholder group told the securities and exchange commission it increased its stake in scandinavia fund inc to 355 pct from 305 pct
the finance ministry said it proposed to the underwriting syndicate a record low 47 pct coupon on the 10 year government bond to be issued in april down from the previous record low five pct march issue
the company also said it currently has a total of 4650 centers in operation and expects to increase the total to 6000 by june 30
i am confident that we can sterilise on this scale
it recognised that such arrangements may in certain circumstances reduce credit risk and wish to encourage their further development and implementation and said some of the current proposals may be changed to take this into account
gm gm dealers order 125000 new chevrolets
exports to western europe eased 35 pct and far east exports due to an economic revival in japan dropped 52 pct
attaka in singapore is valued at 1855 dlrs a decline of 68 cts a barrel or 35 pct from the previous week
brown transport co said it expects to report record 1987 results with revenues increasing to 214 mln dlrs and earnings per share between 125 dlrs and 130 dlrs
baker says us willing to cooperate to stabilize exchange rates
enfield corp plans notes preferred issue
lewis said shearson contributed 316 mln in after tax operating earnings up from about 200 mln dlrs in 1985
mony said this acquisition coupled with its purchase of kelly associates in 1985 contributes to its goal of expanding its group business and improving its product lines
shr 80 cts vs 62 cts net 111 mln vs 8545000 revs 686 mln vs 419 mln nine mths shr 196 dlrs vs 188 dlrs net 268 mln 241 mln revs 1801 mln vs 1263 mln
overseas unions profits are expected to jump to over 40 mln dlrs from seven mln dlrs in 1986 economists said
technical details of the operation would be announced in the next few days
he agreed with a questioner who asked if over two thirds of such problem country debt had been written off
chrysler working through manufacturters hanover trust co bought mexican public sector debt with a face value of 110 mln dlrs mainly from european banks
a five billion dlr credit facility being arranged for two units of british petroleum co plc bpl attracted over 15 billion dlrs in syndication but will not be increased morgan guaranty ltd said on behalf of morgan guaranty trust co of new york the arranger
dollar considerations will prevent them from easing anytime soon but they cant tighten with the economy weak and the banks having to deal with brazil doubts on the economys strength were underscored not only by a smaller than expected 164000 gain in march non farm payrolls but also by a downward revision in februarys gain to 236000 from a previously reported 337000
the full council is scheduled to meet around 1500 gmt to discuss the compromise and could agree on it then if all parties are satisfied they said
the companys shares were trading off 1 1 2 at 15 1 4
combined internmational pma sees strong 1987
noting that the weather was basically good for march the spokesman said that transportation float averaged under 500 mln dlrs a day for the full week
dealers said that the australia dlr zero coupon bonds are apparently being placed with retail accounts on the european continent with very little placement being done in japan
for the first two months of this year the trade deficit on a seasonally adjusted basis was 29 billion francs
consumers say when this cocoa is the cheapest the buffer stock should buy it rather than compete with chocolate manufacturers for premium priced high quality cocoas
japanese agriculture ministry officials said a study of agriculture subsidies by the organisation for economic cooperation and development oecd is still under way and will be completed sometime next month
hungarian 1987 sugar beet area little changed
us reasserts plans for deterrent role in gulf
exploration by pdvsa led to an increase of 675 mln barrels in reserves of light and medium crudes shifting the balance of venezuelas reserves away from heavy crude oil
skorea says japan complains to gatt on trade plan
has raised its stake in telecom plus communications inc
toshibas timing seems most unfortunate for the company as it comes exactly when we are looking for someone to punch one official told 
redstone said the management groups investment bankers will be paid what is due for termination of its merger agreement
a further special session of the international tin council itc held here tomorrow march 24 will give member countries an update on the latest debate over the hundreds of millions of sterling lost when its buffer stock price support scheme failed in october 1985 delegates said
but he said that while easing the controls would help reduce the reserves it would not do so substantially in a short time
the credit guarantees were previously earmarked for sales of us cotton feedgrains and wheat
the study shows that on dairy products japans pse or the amount of aid to farmers expressed as a percentage averaged 833 pct over 1979 81 with the european community at 688 pct and the united states 482 pct
2 or better northern spring dns with 14 pct protein minimum and 13 pct moisture maximum and us no
the two countries earlier signed two technical and financial cooperation treaties
officials said the complementary character of the two firms operations was a further reason
keiichi udagawa of bank of tokyo in new york said that if further progress is reported the dollar would head back up towards 150 yen
the invisible trade deficit fell to 617 mln dlrs in february from 693 mln a year earlier but was up from a 527 mln deficit in january
to cope with the negative impact of the strong yen japanese enterprises must strive to cut costs by all means including holding down wages as much as possible otsuki said
oak ondustries oak to buy electronics firm
a and w brands files initial public offering
s and p said if michigan generals exchange offer for the debentures is not successful the firm anticipates it will default on the june 1 interest payment and will have to seek protection from creditors under the federal bankruptcy act
but mining industry council president dam teutong told that if the tin price rose above 18 ringgit a kilo thai miners would press for the opening of more new mines
ec says us broke trade rules in akzo dupont row
trading volume in london new york and tokyo alone last year averaged nearly 188 billion dlrs a day according to a joint central bank study about double the previous estimate made just two years earlier by the group of thirty private research group
calmark headquartered in los angeles develops manages and syndicates real estate northview also said
this condition has not been met by some of the innovations hennicke said
bryan herrmann who will retain his title of president of the parent group and assume the title of vice chairman of the parent the company said
noranda inc said a copper mine fire that killed one miner and trapped 44 others for nearly a day caused an estimated 10 mln canadian dlrs in damage
it is not simply a question of withdrawing or refusing operating licences
despite cubas ambitous cattle development plans beef rationing has been in effect over the past 25 years
once established more problems are expected if extra competition shaves margins
the sullivan mine at kimberley about 450 miles east of vancouver produced 22 mln long tons of ore last year most for processing at the trail smelter
consumers are holding back from buying additional amounts until they test out the rubber
it asked for comments on the proposal by april 20
in a statement the finance ministry said the process for formalizing the package was going as planned
pins are tradable foreign currency denominated financial instruments with a six year maturity designed for conversion into pesos to fund government approved equity investments within the philippines
generally analysts say producers have a large buildup of stocks but us roasters have drawn down supplies and will need to do some buying soon
the basis position will be afloat may july shipment or june arrival delivery
the soviet union has taken an increased share of yugoslav corn sales during this marketing year he said
it said a steep decline in oil prices had led to a major transfer of resources from oil producing countries to industrial nations
the company said it now has about 22 pct ownership of cyclops on a fully diluted basis and expects to proceeds toward completion of its proposed acquisition of cyclops
canadian 1986 87 coarse grain production is projected at 2762 mln tonnes vs 2762 mln tonnes last month
pentland said it will use proceeds to fund growth and possible acquisitions
uk wheat market eases on intervention release
there are banks that have decided that lending is not a good business any more
us delegation hopes for veg oils tax defeat
ranks hovis said that full acceptance of the increased offer would result in the issue of a maximum of 723 mln new ranks hovis shares or about 20 pct of the enlarged issued ordinary share capital of the company
in richmond va james river said closing is expected by the end of april subject to approval by both boards and on the reaching of satisfactory labor agreements
roger hemminghaus diamond shamrock vice president and soon to be chief executive of the spin off diamond shamrock refining and marketing co said refining and marketing is a margin business
upon completion of the proposed transaction woodhead faulkner will become part of simon and schusters international group which in the uk includes simon and schuster trade books and prentice hall academic texts
he said forecasts to be released soon by research groups would predict a rate of around eight or nine pct in the 12 months to the end of march 1988 against 182 pct in calendar 1986
1 1986
standard federal sfb offers zero point loan
golden nugget inc gng 4th qtr loss
february exports seasonally adjusted were 1044 billion dlrs against 985 billion in january and 1005 billion in february 1986
the loan was signed by finance minister jaime ongpin and a
but firmer oil prices since then have brought some stability to the economy and helped narrow the foreign trade deficit
the number of british gold articles hallmarked during the first quarter of this year rose by more than 11 pct on the corresponding period last year figures released by the assay offices of great britain show
metzenbaum said he introduced a bill to transfer antitrust authority over airline mergers to the justice department in hopes it would more restrictive than the transportation department
the bank will also have to offer at least one index linked issue where the rate paid to investors is tied to the retail price index leaving about one to two billion stg in total to be raised in the form of traditional stock
the plan would initially apply to cereals beef veal and wine they added
the american holding company laurentian capital corp will show a substantial improvement this year chairman claude castonguay said before the annual meeting
fairchild is owned by schlumberger ltd slb brooks also told a press conference that if management is successful it may later attempt to take the company public
they said that the dollar yen rate was broadly in line with fundamentals when it was 154
you could question just how committed they are in addition some industry analysts question the effectiveness of a bilateral agreement that leaves out third country chipmakers such as those in south korea
he has opposed the legislation saying it would prevent negotiated solutions to trade disputes and in any case that existing law was adqeuate to end unfair trade practices
its exports are expected to total 50 billion and imports 30 billion against exports of 3979 billion and imports of 2417 billion last year
digigraphic systems corp 4th qtr oper loss
bank financing was a particular feature of the failed itc buffer stock which suffered losses running into hundreds of millions of sterling
shr 51 cts vs not given net 4661000 vs 2499000 note net includes securities gains of 663000 dlrs vs 1173000 dlrs
ec authorises export 65000 tonnes barley maximum rebate 13875 ecus brussels trade
japan is also not totally happy with the administrations trade bill particularly its proposal to establish reciprocal access to foreign markets as one criteria for retaliatory trade action by the us officials said
japanese british and us securities houses have been expanding inventories of gilts to meet demand from investors seeking capital gains including city and trust banks which have been active on the us treasury market they said
fed arranges three day system repos
argentina is aiming at four pct growth in 1987 and has said this target is not negotiable
over the 1983 85 period turkey each year has exported between 240000 and 350000 tonnes of whites to iran and between 62000 and 230000 tonnes to iraq
tempo enterprises inc said it signed a letter of intent to sell seven cable television systems representing about 5000 subscribers to eagle cable terms of the acquisition were not disclosed
shr 57 cts vs n a net 7222000 vs 6959000 nine mths shr n a vs n a net 176 mln vs 248 mln assets 27 billion vs 23 billion note year ago per shr amts not available as bank converted to stock ownership june 24 1987
british printing holds 460600 shares and 56 mln dlrs worth of debentures
us to allow temporary imports of sa uranium
also adversely affecting earnings were losses on the trading of securities and higher non interest expenses although these were partly offset by increased trust income profits from foreign exchange trading and investment securities gains the bank said
brodersohn reiterated that argentinas goal is to reach an agreement which permits four pct growth this year following last years 55 pct and negative growth in 1985
state bank banca commerciale italiana bci said it is launching a 50 billion lire eurobond on behalf of merrill lynch amp co
oreilly told analysts heinz is in active negotiations to build a second plant in china where it entered a joint venture with the government in 1984 forming heinz ufe ltd which produces dry baby food cereal
palmer told reporters after a cabinet meeting that the government had asked high commissioner rod gates to return from suva for discussions about other possible measures
the report said that although the government had succeeded in cutting inflation from 250 pct a year in the first half of 1985 to under 70 pct its stabilisation and reactivation program was encountering rising difficulties
louvre accord vital to wgermany stoltenberg
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 295000 to 305000 head versus 307000 week ago and 311000 a year ago
by the turn of the century world oil prices will be significantly higher because of declining supplies mcmillan said
in march the gold silver ratio narrowed from 74 to less than 67
edward zorinsky d neb said his bill would restore equity under federal sodbuster rules which currently deny farm program benefits to farmers who between 1981 and 1985 planted alfalfa and other multiyear grasses and legumes without interrupting the plantings with a row crop
net new deposit withdrawals were up to 22 billion dlrs from 19 billion dlrs in december
terms were not disclosed
us agriculture secretary richard lyng said he is pleased the european community plans to offer a global farm reform plan at gatt later this month although the united states opposes key parts of the proposal
electrolytic refining lowers copper price
the company said layoffs will start within the next few weeks
there is strength in the february data but thats because they were compared to low sales levels in january said said beth reiners of dean witter reynolds inc
record wheat production in 1986 87 is pushing global wheat consumption for food to a new high and higher yielding varieties have been particularly effective where spring wheat is a common crop it said
he said exporter registrations dropped from an average weekly 500 tonnes in march to 45 tonnes last week with exports in coffee year 1986 87 ending september forecast to total about 8000 tonnes against 48000 in 1985 86
lawson restated that the government was keeping the question of membership under review
syria will hold a buying tender on april 8 for 36000 tonnes of white sugar for shipment in june july and august at a rate of 12000 tonnes a month traders said
cineplex said the purchase price consisted of 225 mln dlrs cash and 652742 cineplex common shares
sigma said it changed its 1986 reserve reporting method following dome mines previously reported move to adopt general industry practice of reporting proven and probable ore reserves
hartford steam boiler inspection and insurance co said its board declared a two for one stock split and raised the quarterly dividend to 25 cts postsplit from 20 cts both payable april 30 to holders of record april 10
in february producer prices fell 03 pct from january and dropped 42 pct from their levels a year earlier
madagascar extends amoco oil exploration agreement
shr 14 cts vs 15 cts net 733000 vs 788000 revs 319 mln vs 289 mln nine mths shr 108 dlrs vs 120 dlrs net 5560000 vs 6162000 revs 1045 mln vs 972 mln note 1987 net includes tax credits of 25000 dlrs in the third quarter and 100000 dlrs in the nine months compared with 370000 dlrs and 910000 dlrs in the 1986 periods
gurria said mexico is not accumulating reserves for the sake of it
im convinced itll be the last one in this form one banker said
joint venture talks that could lead to chrysler corp c taking a stake in italian car maker automobili lamborghini spa are continuing a lamborghini spokesman said
net excludes gains from discontinued pipelines and terminals operations of 216000 dlrs vs 99000 dlrs in quarter and 527000 dlrs vs 296000 dlrs in year
cba novel australian dlr issues upped to 125 mln
richard jeffrey economist at stockbrokers hoare govett said in a comment it is unlikely that lawson will respond to signals from m0 alone reinforcement from exchange rate trends is necessary before action is taken with the chancellor making clear that policy manoeuvres are made in response to signals from this narrow money variable the city has been forced to take it seriously he added
fed seen content with us february economy
the official economic information newspaper last month said production in the 1986 87 crushing season september april will be 118 mln tonnes short of demand
therefore the g 7 countries welcomed miyazawas presentation of plans for a supplemental budget to stimulate domestic demand
the residential cmo package also has three fixed rate tranches merrill lynch said
a week ago seamen began their first national strike for 25 years and union leaders say they have seriously affected brazilian exports by making idle 160 ships
it is barely one month since the end of an eight week campaign of lightning strikes against redundancies in rotterdams general cargo sector which stevedoring companies said cost them millions of guilders
french state sell offs raise 52 billion francs
the sources were reporting poehls remarks at a symposium in duesseldorf last week organised by deutsche bank ag
production of fish meal by the three south american producers chile peru and equador last year reached 25 mln tonnes equalling the record output of 1970 the international association of fish meal manufacturers iafmm said
the 49 page report contains an in depth examination of the problems of gas developoment and looks at different ways in which contractual terms might deal with the risks in gas development associated with pricing marketing and volume
the conversion period is from april 13 1987 until march 22 2002
merrill lynch and co inc is offering in the domestic debt market 75 mln dlrs of new zealand dollar denominated notes due 1988 said sole manager merrill lynch capital markets
x includes imports
shr seven cts vs eight cts net 278000 vs 340000 revs 114 mln vs 8871000 year shr three cts vs one ct net 113000 vs 33000 revs 397 mln vs 331 mln
kuwaiti oil minister sheikh ali al khalifa al sabah said opec was producing well below its oil output ceiling and this would help prices move higher according to a kuwaiti newspaper interview
malaysian 1987 economic growth seen above forecast
240 uncorrected note full name is nationale nederlanden nv ntnnas
the gain was made possible in part by the refinancing of 1619 mln dollars of foreign debt
chemlawn said the plan will not be triggered by purchases purusant to waste managements present tender offer
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
analysts have reached this conclusion despite yesterdays mortgage rate cuts for new borrowers which building societies said were a sign of the expected near term trend for uk rates
the annual fear of frost in brazil will probably grip the market sometime this month until june or early july one trader said
french february unemployment hits record 265 mln
the parent has a 1 senior debt and the unit carries a 2 senior debt
qtly div 36 cts vs 33 cts prior pay may one record april 14
the senate voted to condemn the proposed european common market tax on vegetable and marine fats and oils and said it would result in retaliation
one businessman said too many politicians give the impression that malaysia was unstable
some political analysts said baudouins comments possibly reflect widening differences within the rpr udf coalition on social issues ahead of next years presidential elections
the index for materials and fuel purchased by manufacturing industry fell a provisional and unadjusted 11 pct after a 17 pct fall in february
brazil adjust cruzado down against dollar new rate 22840 22945 previous 22690 22803 effective wednesday april 8
the chemicals are chiefly chlorofluorocarbons cfcs which are used in refrigeration and making foam plastics solvents and aerosols
they said the envoys trip to be followed from tuesday by a visit to nicaragua could be linked to a possible mediation of the non aligned movement in the seven year old iran iraq war but they ruled out any prominent cuban role in it
taiwan sets 1987 canadian wheat import target
idd information services said the 30 day corporate visible supply rose to 398 billion dlrs from 328 billion dlrs
based in salt lake city commercial security ended 1986 with assets of 8303 mln dlrs net loans of 4966 mln dlrs and deposits of 7079 mln dlrs
american travellers corp said it has entered into an agreement to purchase isl life insurance co of dallas a corporate shell with active licenses to operate in 12 states for about 400000 dlrs
nivison said that the deal contains a convenent which states that if the companys debt to equity ratio exceeds two to one the debentures cannot be converted unless the company obtains a bank guarantee or a letter of credit
a senior british official said that protectionist bills being considered by congress could trigger retaliation by the european community eec and threaten the global trading system
pep boys pby sets split raises quarterly
franz josef feiter agricultural adviser to west german chancellor helmut kohl agreed the european community must take greater heed of market constraints in fixing farm prices
iroquois brands ltd ibl 4th qtr loss
ferruzzi announced last week it had agreed in principle to buy the cpc operation for 630 mln dlrs
the cross field allowance offsets up to 10 pct of qualifying spending on a new oil field against prt liability of other fields
chinas foreign debt is very low given its export capability the size of its economy and its growth potential and the country is politically stable jean maxime leveque chairman of credit lyonnais told reporters
that the 40 billion stg psbr target was given credibility by the favourable outturn for 1986 87 which is now also forecast to be 40 billion stg
disney family company
swedens nordbanken banking group said it would sell the 42 mln b free shares deposited as loan collateral by fermenta abs frmsst founder and former chief executive refaat el sayed and it planned to buy them up itself
the march 12 sale will raise 275 mln dlrs of new cash by refunding about 923 billion dlrs of maturing bills
fnma fnm arranges mortgage securities swap
the rigs one of which was heavily shelled by four american destroyers on monday were still burning almost 24 hours after the attack and could cause widespread pollution in the gulf the minister told a news conference in tehran
bally bly to take 173 mln dlr 1st qtr charge
brazilian garage owners want to be allowed to raise their profits on alcohol fuel and petrol sales to 126 cruzados six us cents a litre from 056 cruzados about 25 cents queues formed at petrol stations in sao paulo late last night as motorists filled up their tanks while they still could
the march trade surplus was 145 billion dlrs compared with 132 billion in february and 102 billion in march 1986
hoechst ag hfagf year 1986
once nec cuts production it means they all have still pressures remain to keep production high
the experts told tehran holds the initiative and is likely to control the tempo and direction of the conflict as long as america simply reacts to iranian attacks by launching limited retaliatory strikes
since the start of the coffee year last october private exporters were on average allowed 350000 bags of 60 kilos per month
thailand exported 1120 tonnes of tin metal in february down from 1816 tonnes the previous month and 2140 tonnes a year ago the mineral resources department said
ames said yesterday that inventory shortages found at its secaucus nj distribution center would hurt results for the year ended january 31
no decisions are likely until after indonesias elections on april 23 traders said
unocal corp is raising 450 mln dlrs through a two tranche offering of notes said lead manager merrill lynch capital markets
this means more jobs could be created as the fields in the central and northern sectors of the north sea are deeper than in the south and thus have greater capital and labour requirements as the waters are deeper than in the south
bf goodrich gr canada studies plant
klm seeks stake in british courier service
there is no real goodwill in certain delegations to go to quotas hesse who advises the italian foreign affairs ministry on coffee issues told 
wolohan lumber co wlhno 3rd qtr net
the cut will encourage local importers to increase 1987 soybean imports to 19 mln tonnes from 174 mln last year he said
the executive said the merger would not alter his target of maintaining sales and earnings growth of 30 pct to 35 pct
media general mega family wont sell shares
the request will be considered at the committees next meeting the commission sources said
the new measures they said are designed to reduce the subsidy given to overseas lending through the tax system and bring the uk system more into line with those of overseas competitors
royal bank of canada 1st qtr jan 31 net
thai traders oppose reimposition of coffee quotas
the department said last summer for example certificates were exchanged for 215 mln bushels of corn
hapag lloyd ag said it ordered a new container vessel from china for its australia service
foreign direct investment in the united states increased 144 billion dlrs in the fourth quarter compared with 56 billion dlrs in the previous quarter because of stepped up acquisitions the department said
fiat has no comment on reported bond issue plan
an ntt spokesman said increased competition from new entrants to the telecommunications field and the effect of a sales tax scheduled to be introduced next january were the major factors behind the projected decrease in profits
it is the maekawa report which has attracted the most attention in europe and europeans and americans want quick action
intl game technology igam to sell debt
following is the text of a statement by the group of seven the us japan west germany france britain italy and canada issued after a washington meeting yesterday
myers said soybean plantings are expected to decrease as a result of the action on oats planting of which are expected to increase by two to three mln acres
brown forman corp said it filed a shelf registration covering up to 200 mln dlrs of debt securities guaranteed by its parent company brown forman inc
belgium plans to outlaw insider trading
normally syria calls white sugar buying tenders for forward delivery and last months spot requirement resulted in the sale of several cargoes
national security insurance co nsic 4th qtr
die welt said the interview with bangemann had taken place at a meeting of his free democratic party fdp in darmstadt last friday adding that it had a tape recording of his comments which it would publish tomorrow
convertible currencies totalled 18277 billion lire in may down from 20028 billion in april while european currency unit holdings were 10610 billion against 10528 billion
banks alone exported some 86 billion marks in funds while domestic companies increased their short term financial assets abroad by 700 mln
however even a 21 dlr per bag rise in the contribution quota would make brazil coffees uncompetitive on world markets and an increase to around 15 dlrs a bag is more likely the exporters said
citing aggressive capital structures acquisitions and cash flow coverages of interest expense of between 10 and 15 times s and p noted that the companies are more debt intensive now than in their building phase
ltv corp said a credit agreement between the company and its 22 member bank group has been approved by the us bankruptcy court for the southern district of new york
the move is designed by the government to improve indias trade deficit
no further details were immediately available
commercial national corp cncl cuts quarterly
it also publishes and distributes speciality books under four imprints and operates two book clubs
under a previously announced merger agreement amsouth offered 66 dlrs a share in amsouth stock for first tuskaloosa
1986 net both periods includes pretax charge 2944000 dlrs from writedown of assets and provision 726000 dlrs for obsolete and nonproductive inventory and other items
unsmoothed figures show a deficit of 162 mln dlrs for january against 107 mln revised from 75 mln for december 1986 and 575 mln in january 1986
burlington lawyers told the court if the injunction is not granted samjens would win control of burlington
fourth quarter and full year 1986 includes extraordinary gain of 501000 dlrs and 1040000 dlrs respectively from tax loss carryforwards
oak said it will not make any cash payments to the tendering holders
unidentified jets raided three iranian oil rigs in the southern gulf on monday setting at least one of them ablaze regional shipping sources said
shr loss two cts vs loss 179 dlrs net profit 4959000 vs loss 562 mln revs 2903 mln vs 2450 mln nine mths shr loss 75 cts vs loss 178 dlrs net loss 9390000 vs loss 442 mln revs 8008 mln vs 8386 mln note full name is amca international ltd
tpa of america inc tps 4th qtr loss
the currency market is becoming very political said natsuo okada of sumitomo bank ltd
harvard industries inc said its board approved a two for one stock split in the form of a special stock dividend of its outstanding common stock
partnership ups hbo hboco stake to 87 pct
that is up from the may rate of 6 1 4 pct and reflects the interest rate charged the ccc by the us treasury in june usda noted
us subcommittee approves development bank funds
shr 14 cts vs 13 cts net 2867 000 vs 2723000 revs 189 mln vs 191 mln 1st half shr 39 cts vs 32 cts net 8139000 vs 6709000 revs 473 mln vs 445 mln note affiliate of mckesson corp mck
its major assets are the hong kong hilton hotel property development and interests in husky oil ltd hyoto of canada and pearson plc psonl of britain
amoco corp said its weqb 1 exploratory well 39 miles east of galeota point on trinidads east coast flowed 24 mln cubic feet of natural gas and 500 barrels of condensate daily from one zone and 29 mln cubic feet of natural gas and 600 barrels of condensate daily from a second
dominican alfredo ricart will take over as executive director of the international sugar organization iso in mid april iso officer in charge constantin politoff said
the average yen dollar rate used for the statistics was 15367 yen against 18123 a year earlier
today has been irrational irresponsible possibly the worst day in what has been a dire six months for the floater market commented a senior frn trader at a uk bank
it bought a further 429 mln stg of bills for resale to the discount houses on april 2 at an interest rate of 10 7 16 pct
us officials singled out the inra as the one commodity agreement that seems to be working
the meeting had been expected to go on until tomorrow when the european communitys legal advisers were due to attend but delegates reviewed the progress of the various legal actions today
but a bank of japan official took a much more sanguine view telling that the exchange market is apparently reacting too much and anyone who sold the dollar on the baker comment will regret it later on french finance minister edouard balladur who hosted the louvre meeting was the only one of the g7 finance ministers to respond directly to bakers remarks
mcdonnell douglas md buys computer firm
picketing ufcwu members at the plant did not disrupt operations a company spokesman said
but the new rules suggest that some constraints may be placed on competition as regulators attempt to ensure that no bank takes on more risk than it can handle
international american homes inc said it has contracted to acquire diversified shelter group ltd for about 11850000 dlrs to be paid 73 pct in cash and 27 pct in international american common stock to be valued on a 30 day trading average prior to closing
ensource inc eee 4th qtr loss
cmb officials have forecast that because the government has restored law and order in important growing areas uganda will produce over three mln bags of coffee in the year ending september 30 about 25 pct more than in 1985 6
about 300 other creditor banks also are expected to approve the agreement he said
the international development association said it approved a 186 mln dlr credit to sri lanka to help that country strengthen its agricultural research and development
the rate for raws is based on 92 pct yield
the treasurys operating cash balance totaled 18845 billion dlrs on march 23 compared with 20318 billion dlrs on march 20
only one japanese company has renewed its term contract for iranian crude oil for the second quarter the sources said
commerce bank also said it will continue to adopt an agressive posture in adding to its general provisions against loan exposure to 34 countries designated by the federal governments inspector general of banks
teeco properties lp oper income down
qtr ended may 2 oper shr profit three cts vs loss five cts oper net profit 115000 dlrs vs loss 152000 revs 7652000 vs 4279000 six mths oper shr profit ten cts vs loss 34 cts oper net profit 342000 vs loss 1149000 revs 140 mln vs 7398000 note oper data does not include extraordinary gain of 28000 dlrs or one ct per shr in 2nd qtr 1987 or or 118000 dlrs or four cts per shr in six mths
albertsons inc abs raises qtly dividend
the allocation rate on the last facility was 385 pct compared with 360 pct
petitioners have to show their remittances relate to genuine commercial transactions
shr 32 cts vs 20 cts net 1982000 vs 1022000 year shr 122 dlrs vs 59 cts net 7005000 vs 3030000 assets 1913 mln vs 1165 mln
they said pioneer sugar was expected to recommend acceptance of the bid through which csr would benefit from the bottom out of a cyclical downturn in sugar prices
csr not only gets the 985 mln dlrs but also has the right to share equally with esso any higher returns resulting from an oil price over 20 us dlrs a barrel in the next two years
treasury secretary james bakers assurances that us policy is to oppose these loans did not satisfy concerns raised at two senate committee hearings last week
borg warner bor board oks sale of unit
pacific gas began construction of the two nuclear power units in 1969
bat said the us brown and williamson unit held most of its 1985 gains and increased profit 18 pct in dollar terms
daniel ryan will become president of leader
finance minister kiichi miyazawa told parliament on friday the current dollar yen exchange rate is not necessarily satisfactory for the japanese economy
south korea posted its first ever current account surplus last year due largely to a trade surplus with the us of 71 billion dlrs against a 43 billion deficit in 1985
the payment date is may 20
shr 14 cts net 510917 sales 123 mln note share adjusted for five for four stock split in january 1987
the move which follows brazils suspension of interest payments on 68 billion dlrs of commercial bank debt on february 20 is expected to reduce first quarter net income by about 20 mln dlrs of which four mln dlrs represents interest accrued prior to 1987 but still uncollected the bank said
qtly div 29 1 2 cts vs 29 1 2 cts prior pay april 15 record march 27
will and senior vice president william d
the economy grew by 53 pct last year up from 41 pct in 1985 ouko said
kraft said last month it had signed a letter of intent to acquire the austin texas based foodservice distributor
results were awaited on egypts tender today for 200000 tonnes of us soft or white wheat for april shipment under pl 480 private export sources said
robert halmi sr who is currently chairman and chief executive officer of robert halmi inc will be chairman of the new company and david evans current president and chief operating officer of hal roach will become chief executive the company said
boston edison co bse regular dividend
the company said an investment banking group managed by dillon read and co inc will handle the offering
the project extends through 1991 and will help magyar posta the state enterprise overseeing the telecommunications sector meet its long term development goals
the bank of england said it had revised its forecast of the shortage in the money market today down to 400 mln stg from 450 mln stg
swissair reports lower profit and dividend
net claims of commercial banks and the bundesbank against foreigners refecting these foreign payments increased by 91 billion marks in february little changed from januarys rise
without this reduction second quarter earnings would have been about 138 mln dlrs a 10 pct increase over last years profit taylor said
the meeting aims to set rules for the operation of the pacts buffer stock which producers hope will boost a market hit by successive world cocoa surpluses
short term lending rates now average 25 pct a year with no prospect they will be lowered soon the bankers said
the statistics office said it was not yet able to calculate the real change in exports and imports in february
shamrock said raymond nawara a former executive vice president of dbms a privately held software company also granted it options and voting rights on a major portion of his shares of common stock
oper shr five cts vs 29 cts oper net 151000 vs 867000 revs 127 mln vs 141 mln year oper shr 87 cts vs 52 cts oper net 2650000 vs 1565000 revs 547 mln vs 491 mln note oper data does not include 4th qtr 1986 extraordinary credit of 14000 dlrs or 4th qtr 1985 extraordinary loss of 139000 dlrs or five cts per shr
qtr ends jan 31 shr profit one ct vs loss two cts net profit 74000 vs loss 122000 revs 1657000 vs 1416000 nine mths shr profit five cts vs loss 10 cts net profit 299000 vs loss 624000 revs 5134000 vs 3744000 note full name precision target marketing inc
reagan says us committed to louvre accord
one japanese investor took 50 mln guilders alone a dealer said
three d departments inc tdd 2nd qtr jan 31
fungicide may be used to curb the disease which also affects leaves of 30 other species of plants but experience has proven that it is uneconomical and expensive he added
canadian pacific ltd said it retained wood gundy inc to seek a buyer for maple leaf mills ltd of toronto
they said from september a semi government body will assure repayment of about 50 billion yen in liabilities incurred through job losses and the sale of excess capacity and another 30 billion for buying unneeded land and equipment
in other action jacobsons directors approved an increase in its quarterly dividend to 11 cts on a post split basis payable april 14 record march 30
it said profitability and cash flow protection are not expected to rebound in the foreseeable future to levels that would support the former ratings
avery inc said it began a public offering of two mln shars at 5025 dlrs per shares
last years imports were 253 billion dlrs against 181 billion dlrs in 1985
bankers said they would seek clarification from the inland revenue particularly on how to calculate the cost of these loans
wheat deficiency payments for the 1986 crop now complete were made in a 50 50 cash certificate split and usda officials have indicated they want to do the same for feedgrains
ackerman has been named chairman of data access as well and two other phoenix representatives have been named to the data access board
recent ico talks in london failed to break a deadlock over re introduction of export quotas suspended in february 1986 and no date has been set for a new meeting on the issue
this was better for us relations with the gulf arab states particularly kuwait commented another diplomat kuwait must be happy that the us has done something but relieved that faw was not attacked on its doorstep one source said of the attack on the oil platform they managed to warn off the crew and hit something that was the least nuisance to everybody a diplomat commented they were very clever in the place they chose
parker drilling suspends quarterly dividend
moodys said resorts already has a highly leveraged capitalization
bek nielsen said americans consume more saturated fats daily through food like butter bacon ham and beef than from palm oil which he added is rich in vitamins a and e
hughes supply inc hug sets quarterly
the sec said it had planned to file a court brief joining with allied in charging that campeau had engaged in an illegal tender offer
amoskeag said the proposed recapitalization would increase total authorized stock to 260 mln shares from 22 mln
qtly div six cts vs six cts prior pay april one record march 23
the finance ministry sources gave no details of the groups interested in cgct but several have publicly announced their candidacies
but brazil and venezuela are the only countries in the region to have rescheduled debt without an imf program
extracts from a report by italys budget ministry on the countrys economic development in 1986 showed gross domestic product gdp 27 pct higher in real terms than in 1985 but a rise in unemployment
azzam said capital market instruments should be made available to all citizens and institutions of gulf cooperation council gcc states bahrain kuwait qatar oman saudi arabia and the united arab emirates uae some moves had been taken in this direction with bahrain allowing gcc nationals to own up to 25 pct of locally incorporated companies
the 1984 restraints established that for 1987 brazils steel exports to the us could not exceed 632000 tonnes increasing to 640000 tonnes in 1988 and 670000 tonnes in 1989 the last of the five year deadline set by the agreements
1986 nine mths net excludes gain 4726000 dlrs from cumulative effect of pension accounting change
in the interim fairchild would continue its ongoing business within schlumberger the oilfield services concern said
it is projected by the government to rise to more than 50000 tonnes by 1988
the ec is the largest buyer of thai tapioca absorbing more than two thirds of the 58 mln tonnes of pellets exported by thailand last year
a notice of redemption will be mailed to noteholders march 27 it said
lyng said the us put high priority on talks on 12 farm products named in us complaints against japan to the general agreement on tariffs and trade gatt last year as well as on beef citrus products and rice
the us customs will allow such importation to be made under bond the brief said
the sale completes hexcels plan to sell all its medical products businesses hexcel said
security pacific national bank and provident national bank said they increased their prime lending rates a quarter point to 7 3 4 pct
shr primary 115 dlrs vs 76 cts shr fully diluted 115 dlrs vs 76 cts net 408 mln vs 271 mln revs 3696 mln vs 2632 mln nine mths shr primary 295 dlrs vs 344 dlrs shr fully diluted 295 dlrs vs 333 dlrs net 1038 mln vs 1190 mln revs 106 billion vs 8978 mln
treasury secretary james baker said he expected the us trade deficit to fall by 15 billion to 20 billion dlrs in 1987
polish banker pleased with world bank imf talks
uk feb retail sales rise provisional 22 pct jan fall 22 pct official
actual prices were not reported but the wheat was sold at or above the march intervention price of 11917 stg per tonne
hallamore and lloyd g
with many electronic goods produced overseas this may show that foreign producers are not raising prices which bodes ill for us competitiveness he said
the official magazine said the provinces grain area fell to 433 mln hectares in 1985 from 57 mln in 1978 out of a total farmland area of 74 mln hectares
crushing would commence at labasa and penang mills on june 23 and at lautoka and rarawai mills on june 30 he said
the pact calls for transmission of gas owned by arkansas western gas co seeco inc arkansas gas gathering co and southwestern energy production co southwestern energy said
carney also said canadian companies were being asked to exercise prudence in the us market and both countries were considering establishing a joint commission to study the growing steel problem
the ministry said updated forecasts would be prepared before the autumn to serve as the basis for the 1988 budget which the government is now preparing for presentation in september
vulcan corp vul regular dividend
the heat and lack of rain combined to leave many soybean pods empty especially in cordoba
treasury secretary james baker said the agreement among the industrial countries reached in paris last month should foster stability of exchange rates at around current levels
the company said the guarantees are subject to the placement of over one mln dlrs of reinsurance and to a pending change of control of developers insurance
france sold around 300000 tonnes of soft wheat to tunisia during the 1986 87 season
certificated cotton stocks deliverable on the new york cotton exchange no 2 cotton futures contract as of april 8 were reported at 34661 bales down 421 bales from the previous days figure
however the company said the plan will not be triggered by purchases pursuant to the 65 dlrs a share tender offer commenced on october 9 by a unit of tlx partners a group controlled by new york financier asher edelman
commenting on ec policy he explained depending on the seriousness of the outbreak the veterinary committee then decides on three options allowing us to continue exporting beef from disease free areas clamping a three month suspension on exports or banning us from exporting for a year
it said it will receive about 40 mln dlrs more later mostly this month when closings are expected in three more countries
martin marietta ml 3rd qtr net
shr 17 cts vs 84 cts net 709000 vs 3605000 rev 864 mln vs 870 mln year shr 179 dlrs vs 110 dlrs net 7452000 vs 4695000 rev 3628 mln vs 3160 mln note 1986 net includes gains from sale of non operating assets of 800000 dlrsm versus 12 mln dlrs in 1985
finance ministers agree on need for stability
it said it should have received a 17 mln dlr tax credit but instead made a 1004 mln dlr tax provision
fourth quarter medium and long term foreign debt repayments exceeded new credits by 11 billion francs
the average price for the three month bills was 98577 and prices ranged from 98574 to 98582
cable and wireless has a 20 pct stake in one of the two companies involved in the mooted merger
the cause for the rise was a rather tight 48 billion guilders of special advances set by the bank yesterday compared with 80 billion guilders for the previous set dealers added
net also includes tax credit of 64000 for year ago 12 mths
the question of sales from the original 360000 tonne buffer stock is expected to be the main topic of the council meeting which is scheduled to end on thursday
this months reserves were 449 billion dlrs above march 1986s total of 328 billion dlrs
renouf managing director mike cashin said in a statement it had been renoufs intention to build up a long term strategic position in nzi
the groups net return on capital was seven pct
xerox xrx affiliate to sell safrican unit
shr 71 cts vs 57 cts net 5457000 vs 4299000 sales 629 mln vs 501 mln year shr 165 dlrs vs 137 dlrs net 126 mln vs 104 mln sales 1814 mln vs 1471 mln
the intervention rate has stood at eight pct since it was raised from 7 1 4 pct on january 2 as the french franc came under pressure ahead of the ems realignment on january 11
unofficial japanese estimates put the impact of the tariffs at 10 billion dlrs and spokesmen for major electronics firms said they would virtually halt exports of products hit by the new taxes
bundesbank leaves credit policies unchanged
in a strongly worded statement terming the japanese action extraordinary and urgent the meeting reaffirmed the paris accord by noting that current exchange rates are within ranges broadly consistent with fundamentals or economic reality
its clear that the fed has firmed somewhat
once interest on brazils debts becomes more than 90 days overdue us and canadian banks must put the loans on non performing basis and may book payments only as and when they are received instead of accruing the interest in advance
the dealers for the program will be sg warburg and co ltd and county natwest capital markets ltd
canada plans a three part one billion dlr issue tuesday which will be dated and delivered may 1 the finance department said
the department has just begun to receive relevant information on trailways financial condition and is in the process of assessing the correctness of the companys allegations acting assistant attorney general charles rule said in comments submitted to the icc
ec business also had a remarkable year in japanese sales but this can be explained partly due to its start from a small base compared with total japan us trade
the country will have to continue imports of sugar and draw down stocks to meet market demand it added
mcm corp mcmc sets quarterly
the american express spokesman said he could not comment on whether any officials of the firm were subpoenaed
the prime minister expressed his concern over the possible consequences of increased tension in the gulf at the same time recognizing the limited character of the american military reaction to the attacks it has suffered in the past few days the statement said
ibm whose stock hit a 52 week low of 115 3 4 dlrs in mid january has come back lately
kaiser said the increases are due to increased demand and the need to set prices relative to the cost of primary aluminum
taiwanese investment in the us last year totalled 46 mln dlrs the ministry document said
pharmacontrol said the purchase price was financed along with one mln dlrs in working capital through secured institutional financing
he told last month elders ixl ltd elxas the melbourne based brewing company had also bid for the b shares
dutch merchant bank pierson heldring en pierson said the state has raised about 153 billion of its 1987 capital market requirement of an estimated 32 billion guilders
ministry of international trade and industry miti vice minister makoto kuroda leaves for washington today with data he hopes will refute us charges japan has violated a pact on microchip trade
cra ltd craas said it expected to pay a final 1986 dividend of not less than 10 cents a share after july 1 making 13 cents for27the year against 15 in 1985
the mexican package is now due to be signed on march 20 but bankers said the us clearly feels the need to breathe new life into the financing process especially with crucial negotiations with brazil about to start
the dollar mark and sterling started this week even lower heightening the chances of lively foreign demand for guilder denominated paper dealers said
a 250 mln dlr issue of bonds due 1997 was given a 7 5 8 pct coupon and was priced at 9925 to yield 773 pct or 605 basis points more than comparable treasury securities
we must make our utmost effort to ward off any catastrophe ministry of international trade and industry miti deputy director general masaji yamamoto told reporters
there were 287700 tonnes of us corn shipped to the soviet union in the week ended april 2 according to the us agriculture departments latest export sales report
holiday inns is also offering 500 mln dlrs of subordinated debentures due 1999 with an 11 pct coupon and par pricing
tomorrow that eastern area will get 1 4 to one inch a pretty good rain mohler said
it said it is closing branches were overlaps exist following its august 1986 acquisitions of citizens federal savings and loan association of cleveland and dollar savings bank of columbus or where efficiencies could be improved
the crude materials index rose 18 pct in february after a 29 pct rise in january
brazil seen as vanguard for changing debt strategy
cp national corp cpn 3rd qtr net
the dollar was trading around its midday rate of 14230 yen
the nine existing stores generated approximately 348 mln dlrs of supermarkets generals total sales of 29 billion during the six month period ended aug one 1987
the national weather service said a powerful winter storm centered over north central oklahoma was spreading snow from western and central kansas across much of nebraska to southern and eastern south dakota
alden earned 1357000 dlrs last year
morgan crucible says prospects are encouraging
the securities may be offered from time to time through underwriters or by the company directly or through agents it said
bernstein and cos institutional strategy committee raised his earnings estimates to 80 cts a share for the current fiscal year ending in october
zambian minister confirms copper diversion
brokers and market analysts said thai stocks will register more gains as long as liquidity remains in the money market
note bonus issue one for five for both a and b shares against two for one
this follows harcourts completed acquisitions of the publishing group of cbs inc and marineland
production at the mine has been suspended until the investigations are complete
cable and wireless details merger of hk units
i am of the opinion that efforts to stabilise the dollar mark rate have reached a high priority also for the bundesbank because a further massive revaluation of the mark would endanger the economy in west germany he told business journalists in frankfurt recently
shops in nadi and lautoka center of the countrys sugar industry closed again today in support of bavadra
the bid would not have been successful but for the services of mr ward mac attorneys said in the documents submitted in court
shv withdraws ic gas offer
such diversification would give access to national and international financial services to corporations across the united states
they said the documents required by the world bank were not submitted by manila until late february
the company said preliminary estimates of 1986 revenues is 245 mln dlrs compared with 7900000 for 1985
us sells 3 mo bills at 555 pct stop 556 pct 6 mo 555 pct stop 555 pct
nzfp shares ended at 388 dlrs today
net excludes gains from sale of investment of 1461000 dlrs vs 346000 dlrs in quarter and in nine mths
denominations are 5000 and 50000 marks
qatars february output was 230000 bpd and this fell to 180000 bpd in early march compared with its 285000 bpd quota
the storm which lashed the huai and yangtze rivers and eastern anhui province left two people dead and 800 others injured
the ec is anxious to avoid provoking a trade war they said
the speculation pushed borg warners stock up 1 3 8 to 48 1 2 in heavy trading
the computer company would offer open systems so that customers would not be tied to a specific vendor or architecture and it will also focus on tying computers together through communications networks
there are signs of life in the economy mccarthy said
bank of montreal lowers credit card rate
correction simmons airlines inc simm loss in chicago item headlined simmons airlines inc simm 2nd qtr loss please reverse qtrs for which figures are reported
winston wallin medtronic chairman said the company will improve market share in fiscal 1988 in cardiac pacemakers and expand its cardiovascular therapeutic product line
german experts say no further economic stimulus
the loans had been made by first city to oil producers and to oilfield service and supply companies
it said the key to the dollars fortunes was the willingness of japanese institutions to buy us government assets despite prospects of sustaining a currency loss
chicago milwaukee which sold its railroad interests to soo line railroad co soo in february 1985 currently manages and sells its real estate which consists of 28000 parcels in 11 states
sen
instead aspects of the computer were integrated into the ibm 9370 machine introduced last year and other aspects should be unwrapped by 1988 martin said
the annual rate of growth in january was 11 pct up from 03 pct in december
the 40 mln dlr loan is designed to raise the performance of exports and industry and strengthen the financial sector
many consumers want to try the rubber before they carry on buying he said
moscow says will retaliate against gulf attacks
joint venture was organized in september 1986 to establish leasing joint ventures with manufacturers and vendors of computer equipment
analysts predicted feisty gaf chairman samuel heyman will stage a tough campaign to gain control of borg warner so he can add its profitable plastics and chemical business to gaf
the further progress of our business will depend largely on the extent to which threats to free trade materialise and on the developments of exchange rates raw material and energy costs
nonaccrual loans restructured loans and other real estate were 637 mln dlrs or 224 pct of total assets compared to 514 mln dlrs or 184 pct of assets at the end of 1986 and 6361 mln or 246 pct of assets at march 31 1986
asked what form he thought us retaliatory action might take in the event of the ec tax proposal being approved fluegel said industrial as well as agricultural products could be involved
such a development could worsen the business climate by increasing uncertainty and pushing up interest rates which in turn would adversely affect world trade but the report noted a surprising rise in imports to the united states despite the dollars depreciation which makes foreign products more expensive
it has appeared to traders for some years that the ecs export policy is insufficiently responsive to changing patterns of demand it says
the government removed taher and oil minister ahmed zaki yamani from their posts late last year in a move which industry sources said was aimed at coming to grips with a buyers oil market
the company said the offer represents a major step in restructuring the company
software ag systems inc said it expects to report earnings for its third quarter substantially weaker than earnings of prior periods due to an unexpected shortfall in us domestic license revenues
japanese interest in acquisitions has been continuous but the recent economic factors have become a driving force said a banking industry source
oxoco inc year loss
the bank said at that stage that it was not opposed in principle to when issued trading developing in bonds in the period between the announcement of full details of the auction and the auction itself as in the us however when issued trading is prohibited under the rules of the international stock exchange formerly the london stock exchange and would require an amendment in order to proceed
most of ningbos port infrastructure has been built since 1979 official publications show
shr 158 cents vs 129 cents int div six cents vs same group net 1990 mln dlrs vs 1625 mln turnover 39070 vs 38160 mln note div pay aug 3 register july 31
our plans include initiatives on the debt front as well as greater emphasis on debt equity swaps and the promotion of private investment in third world countries through our affiliate the international finance corporation conable said
a one billion stg tranche of 8 3 4 pct treasury loan stock due 1997 was exhausted in very early trading on the uk government bond market only minutes after becoming available for trading dealers said
shr profit 10 cts vs profit eight cts net profit 477853 vs profit 348384 sales 177 mln vs 173 mln nine mths shr loss 35 cts vs profit 45 cts net loss 1639216 vs profit 2305700 sales 562 mln vs 571 mln avg shrs 4698501 vs 5075717 note earnings in the 2nd qtr of 1987 were reduced by 3262000 dlrs or 69 cts a share from a charge reflecting elimination or transfer of certain product lines and operations at the companys racine wis
general accident fell 21p to 936 royal insurance dropped 18p to 966 and prudential fell 9p to 888
asarco inc said it is decreasing its domestic delivered copper cathode price by 150 cents to 670 cents a lb effective immediately
he said japanese firms would gain from the lower cost of shipbuilding in taiwan while csbc would benefit from japanese technology and marketing
their position is a little less favorable than philip morris and rj reynolds he said
the platform is now expected to be installed in the summer of 1988
davis said the offer which is subject to approval by the new zealand overseas investment commission was a response to the integration of the two countries markets under the australia new zealand closer economic relations treaty
as to us urgings for japan to take steps to boost its domestic demand to reduce its trade surplus japan will explain economic measures to the g 7 the officials said
braniff inc bair 4th qtr loss jan 31
the inflation rate will probably stabilise at around five pct during the projection period as a result of a turnaround in import prices particularly oil an acceleration in labour costs and the effects of domestic demand pressure the report said
soybean meal 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 255 247 279 274 production 6271 6240 6009 6009 imports 2347 2349 2348 2347 consumption 6269 6249 6106 6110 exports 2351 2339 2276 2274 end stocks 252 247 255 247 note imports and exports may not balance due to differing marketing years and time lags between reported exports and imports
foote mineral fte sells cambridge plant
terms of the acquisition were not disclosed
the company named drexel burnham lambert inc as sole manager of the offerings
the bill would make obligatory the declaration of major stakes in companies quoted on the bourse with own resources of more than 200 mln francs
the standard price of other beef mainly produced from dairy steers is now 1090 yen per kilo and the ceiling is 1420 the officials said
convergent inc cvgto 3rd qtr net
acting turkish prime minister kaya erdem said earlier today greek activities in the northern aegean contravened the 1976 berne agreement which set the framework for talks on the aegean continental shelf disputed between ankara and athens
over 750000 head of cattle are suffering the effects of a severe shortage of feed as a result of a prolonged drought in the normally rich sugar and cattle producing province of camaguey the newspaper granma reported
loius dreyfus 3700 tonnes number two yellow corn 145 pct maximum moisture for apirl 10 may 5 at 7629 dlrs fob gulf
the rally wednesday in us interest rate futures left the treasury bond contract above the top of a three month trading range which signals a bullish chart breakout financial analysts said
the state gold mining corp of ghana granted the venture an additional 145 square kilometers in teberebie ghana contiguous to 115 square kilometers granted earlier the company said
he says the boost in production came from smaller industries like paper chemicals and lumber which have improved sales overseas due to the drop in the dollar
1985 net includes gain of 22 cts from discontinued operations
beall said the recent trend toward cost sharing in the research and development phase of government contracts should not have a major impact on rockwells near term performance
the libyan bombing is a thing of the past the trade war didnt happen and we have reached reasonably good cooperation on terrorism one us official told 
if the merger is approved by regulatory agencies and stockholders it would create the 12th largest bank holding company in the united states
dome rose 1 4 to 1 1 8 on the american stock exchange and gained 31 cents to 144 canadian dlrs on the toronto stock exchange where it was the most active stock
safeguard said it bought the business unit from comsat telesystems inc a subsidiary of communications satellite corp cq
the officials disclosed these plans in releasing the third annual omb report to congress on management of the us government
assuming oil prices hold above 15 dlrs a barrel national average gas prices delivered to the utilities at a projected 210 to 225 dlrs per mln btu would be very competitive michael german vice president of economic analysis at american gas association said
annual div 11 cts vs 10 cts prior pay april 24 record march 31
first union corp first qtr shr 71 cts vs 61 cts
raw sugar denatured and non denatured 4135 versus 4135 previously
between september and november however certificates had only a marginal impact on corn prices according to the ers study obtained by
foreign firms hope to join japan telecom company
occidental petroleum corp said the size of its underwritten offering of common stock was increased to 33 mln shares from the proposed 30 mln
money held by the public authorities fell to 568 billion francs from 686 billion at the end of the previous quarter but was above the 555 billion at the end of 1985 the bank said
jardine matheson which had debts of about 27 billion dlrs last year will become debt free after the restructuring
qtly div 10 cts vs 10 cts prior pay may 1 record april 10
kevlin microwave corp kvlm 3rd qtr feb 28 net
given the importance of this market to us industry in general and our defense base in particular we cannot stand by idly he said
amc shareholders with convertible preferential shares will have the possibility to exchange them for chrysler shares on the same conditions as those they would have had in exchanging them for amc shares
they unit has been accounted for as a discontinued operation
vieux called on the ec commission to help by awarding a larger volume of export certificates and said if no outlets are opened for french barley a large amount could be put into intervention
family steak houses of florida inc ryflo 3rd
argentine meat exports during jan feb 1987 totalled 39714 tonnes against 36594 tonnes shipped in the same 1986 period national meat board said
canada plans to monitor steel shipments flowing in and out of the country in an attempt to appease concerns in the us over the high level of canadian steel exports trade minister pat carney said
each bond will carry a warrant and two warrants will give the right to subscribe to an 850 pct nominal bond between december 22 1987 and january 22 1988
spanish dockers began a nine day strike on wednesday in which they only work alternate hours in protest at government plans to partially privatize port services
bankers said the proportion of bank profits generated from the traditional financing of commerce and industry is falling and some have even been making a loss on these operations
venezuela plans metals investment for 1987 89
robert heller a member of the federal reserve board said he expects more modest levels of growth in the money supply this year
in future there will be no limit to the amount of lira bank notes both residents and non residents can bring into italy
much of our considerable optimism about the future is based on the strength of a continuing flow of new products exley told a meeting of securities analysts
offers are due by 1200 hrs edt april 13 and will remain valid until the close of business april 14 the agent said
overseas sales accounted for 682 pct of the total in the three months compared with 713 pct a year earlier
it grew into a nationwide business operation with 87 branch offices and 7000 employees at its peak in early 1985
republican bill frenzel of michigan said the subcommittees bill was not one that a free trader like me could endorse in all respects but he emphasized there was a consensus among trade lawmakers to work toward a bill reagan and republicans would ultimately endorse
precambrian earlier reported a 1986 loss of 534 mln dlrs compared to profit of 45 mln dlrs in the prior year
the problem for the government is that there may be little more it can do to prod the economy into faster growth
on a three month basis total advances in november to january were 30 pct lower than in the previous three months
comdata has already agreed to be acquired by a partnership for either 15 dlrs a share in cash or at least 10 dlrs in cash and uniuts of securities
schulmann speaking broadly about the global debt problem said that the international monetary fund should increase its assistance to third world countries
while democrats and republicans praised the us retaliatory strike many voiced new fears about the growing us involvement in the gulf and some demanded that reagan comply with the war powers act
using a black sholes options model he said the issues long 43 year maturity meant the warrants needed an implicit volatility of gold of only 245 pct for the option to pay off which he claimed was lower than the other issues
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
starrex mining corp ltd said a sharp rise in its share price is based on speculation for favorable results from its current underground diamond drilling program at its 35 pct owned star lake gold mine in northern saskatchewan
the canadians postponed the original july 1 deadline at the request of the european commission which denmark approached for support
us trade representative clayton yeutter said the stock market overreacted to a us decision last week to proceed with tariffs on some japanese computer products
dutch port and transport union fnv agreed to an employers request to reconvene abandoned peace talks tonight to try to end strikes that have disrupted rotterdams general cargo sector for the past six weeks a union spokesman said
us japanese talks of this kind are regularly held each year at this time she told reporters
otsuki said economic growth is unlikely to pick up beyond levels experienced in 1986
during the presentation gevirtz said foothill has reduced to less than five pct the companys level of non performing assets which was as high as eight pct in previous years
he said us cattlemen say there is no reason to change slaughterhouse practices in april if the meat is to be banned a few months later by the hormone rule
matsushita electric trading issues warrant bond
reute
merrill lynch said it has been cooperating with a securities and exchange commission investigation of the matter for several months
we have made significant progress over the last 30 days and we should have an agreement in a shorter lapse of time than managed by mexico venezuela or chile he said
shr 104 dlrs vs 67 cts shr diluted 101 dlrs vs 66 cts net 632 mln vs 405 mln sales 170 billion vs 143 billion nine mths shr 291 dlrs vs 288 dlrs shr diluted 285 dlrs vs 282 dlrs net 1765 mln vs 1727 mln sales 508 billion vs 449 billion avg shrs 603 mln vs 596 mln avg shrs diluted 620 mln vs 613 mln
cabinet chief bernard prauge will lead the french delegation
general systems research in private placement
terms will be set this week with a conversion premium of 25 to 28 pct
moodys affirms avco financials long term debt cuts commercial paper
the plan is expected to purchase from rexham a new convertible preferred stock with 115 pct of rexhams voting power with proceeds of a pension plan overfunding and borrowings
meanwhile the shearson lehman treasury bond price index edged up 04 pct
siew said the taiwan dollar had risen by about 15 pct against the us dollar since september 1985
in a report to president corazon aquino on his departments performance during the year ended february 28 ongpin said at least 159 billion pesos were expected to accrue from new tax reform measures announced last year
vertex industries inc and computer transceiver systems inc jointly announced an agreement for vertex to acquire a 60 pct interest in computer after it completes a proposed reorganization
if you include interest the total amount of external assistance needed annually should not exceed 200 mln dlrs the sources said
group figures for 1986 exclude bsv bank fueer sparanlagen und vermoegensbildung ag which no longer consolidated
washington has threatened to take retaliatory action after april 1
home federal savings rockies hroko 3rd qtr
the rights will be exercisable 10 days after a person or group buys 20 pct of the companys common or announces or commences a tender offer that would result in acquisition of 30 pct or more of its common
assets of 91 institutional funds rose 356 mln dlrs to 6619 billion dlrs 198 general purpose funds rose 2125 mln dlrs to 6294 billion dlrs and 92 broker dealer funds rose 1519 mln dlrs to 10777 billion dlrs
it named no sources
the central bank has not operated in the market today
the dollar has eased this week but remains stable at around 15150 yen
arkansas best abz sees lower first qtr net
1986 qtr includes pretax gain of five mln dlrs from settlement of litigation and tax gain of 51 mln dlrs from change in estimated effective tax rate
freeport mcmoran oil and gas fmr payout rises
the coniston group which owns 13 pct of allegis stock has said that it would seek shareholder consents to remove 13 of the 16 allegis directors
baker is expected to underscore these points in his address today
it said at its regular march board meeting members will consider a stock split or stock dividend which would be contingent upon stockholder approval of the changes in the capital structure at the april annual meeting
a commerzbank spokesman noted the figures werehowever preliminary and required approval of the banks supervisory board which meets today
although an exchange of views on bilateral relations is expected the talks are not directly related to us japanese trade relations she insisted
western environmental was acquired in march 1986
total supply of frozen concentrated orange juice fcoj in 1986 87 is expected to be significantly above year earlier levels even with carry in stocks well below the previous season the us agriculture department said
coopervision has 65 pct of cooper laser zaps 
prime minister brian mulroney said significant progress was being made in trade talks with the united states and a profile of a major deal was emerging
banks had been pressing brazil to make at least a token interest payment but gros said the government was unable to comply for the moment
babcock international plc babkl said in a statement accompanying final results for 1986 showing pretax profits up to 3709 mln stg from 3455 mln in 1985 that overall further progress is expected in 1987
it would be suicidal for any government in the context of what happened in the last couple of days to jack up their interest rates he added
in a separate action the sec filed a friend of the court brief in a private civil case involving a complaint against merrill lynch over excessive mark ups on zero coupon bonds
taiwans shipbreaking industry is expected to decline sharply this year despite the boom in 1986 because of keener competition from south korea and china the rising taiwan dollar and us import curbs on steel products industry sources said
renouf corp international said it now owns 934 pct of benequity holdings a california limited partnership
net proceeds from the sale will be used to refund obligations under the companys belle river project financing and to refund or replace funds utilized by the company for the purpose of meeting debt and equity obligations
senior citibank executive william rhodes said he was encouraged by the banks response and that telexed commitments continue to arrive
without the merger hughes tools current ratings of b plus for senior debt b minus for subordinated debt and c for commercial paper would be affirmed s and p said
santos which is 15 pct owned by elders resources yesterday said its bid valued tmoc at 2485 mln dlrs
ge credit said the bank of new york will be the redemptions paying agent
market sources put the total value of ccfs privatisation at between four and five billion francs
period ended december 31
simon did not mention an oil import fee which many in the industry have called for as a way of building up the nations domestic operations before imports reach such a level that national security might be compromised
cpc international announced tuesday it had agreed in principle to sell its european corn wet millng business to ferruzzi
the bank of france has begun using the seven day repurchase rate to set an upper indicator for money market rates while using the intervention rate to set the floor
gencorp says alternative to hostile tender to be announced within a week
the january rise in consumer prices was 10 pct instead of the previously announced 13 pct the bureau said without explaining how the error arose
such a price development is not expected to cause any marked competitive problems for the metal because of the likely rise in commodity prices as a whole and cost pressures in the pipeline for steel and copper
bouey said payments to chartered banks which are made to banks that are facing liquidity problems dropped to an average of 8323 mln dlrs at end of december from a peak of 52 billion dlrs in march 1986
he said there appeared to have been some attempts to manipulate the market but if all opec members stick by the cartels december pricing agreement it would get through present price difficulties
this was an aspect which was discussed at length during the negotiations but we can say our contract covers all eventualities in this regard he told during the signing ceremony here
we got almost a one percentage point reduction he said
waste management inc wmx had originally made a hostile tender offer of 27 dlrs per share for chemlawn which chemlawn rejected as inadequate
products eligible for the new blanket exchange permit scheme include tea bags cigarettes coffee leather various textiles chemicals pharmaceuticals plastics engineering and electronic goods ready made garments processed food sports goods fabricated mica and consultancy services
officials at several other firms who also declined to be identified said they were reviewing their position to decide whether to continue making markets in frns
vak noted that inflation had fallen below one pct
although several new sterling deals are expected in early trading the only sterling denominated one to emerge was a 30 mln convertible deal for british land co plc
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
shr 36 cts vs 68 cts net 100 mln vs 161 mln revs 4416 mln vs 4708 mln year shr 86 cts vs 177 dlrs net 291 mln vs 441 mln revs 143 billion vs 154 billion note 1986 fl yr net includes 93 mln dlr writedown of us oil and gas properties partly offset by 11 mln dlr extraordinary gain from tax gains and proceeds from sale of minnesota utility operations
in its newly released annual report union texas said it replaced about 71 pct of its production of 56 mln barrels of oil equivalent last year after taking into account the sale of 27 mln barrels of us reserves
the non callable issue is of unsecured unsubordinated debt
under questioning by rep
us bill auction rates average 598 608 pct
the usda later released the state by state breakdown of the enrollment figures
federated department stores march sales up 49 pct
gordon capital corp and dominion securities inc agreed to acquire the issues it said
dollar opens at a record low for tokyo at 14580 yen dealers
american airlines inc is expected to announce purchases from airbus industrie boeing co ba and general electric co ge amounting to 25 billion dlrs the new york times said
servicemaster lp approved a second quarter cash distribution of 58 cts payable april 10 record march 23
some of them are producing less some oil industry sources had said the united arab emirates which had been generally been producing over its quota since opec returned to quotas last september was still pumping more than its allotted amount in the first months of this year
the company said the transaction involves the payment of 20 mln dlrs in cash a non interest bearing payment of 113 mln dlrs in four equal instalments over four years and two promissory notes guaranteed by an affiliate of the purchaser
but congressional sources said the proposal is unlikely to be approved because of opposition from republican lawmakers and a strong stance by agriculture secretary richard lyng who said freezing loan rates would send the wrong signal to other major grain export competitors and would not achieve the budget savings glickman claims
shr loss one ct vs loss seven cts net profit 108419 vs loss 241192 revs 2044882 vs 317266 year shr loss 18 cts vs loss 23 cts net loss 430027 vs loss 432982 revs 5088065 vs 416777 note share after preferred dividends
the company which has 576000 dlrs remaining from a shelf registration of 450 mln dlrs last june said the borrowing is intended for general corporate purposes including the refinancing of existing indebtedness additions to working capital capital expenditures and acquisitions
the company said after the acquisition is complete it intends to open additional blockbuster video superstores in the san antonio market
municipality of toronto issues canadian dlr bond
they will be able to raise the price again but i do not think they will raise it as much as they did in 1979 nance said
there were fears that the combination of the two stoppages could lead to a serious fuel shortage
westlb international set aside 1153 mln marks for international credit risks in 1986 up from 974 mln marks in 1985 bringing the total amount of provisions shown in the balance sheet to 5803 mln marks
ussr wheat bonus rumors persist despite denials
sudan has set aside 7816 mln dlrs to service foreign debts in 1987 88 according to budget plans presented to parliament
association sources told fridays suspension of trading for two working days was continued on monday for two more days so as to study proposals to reinforce the pound
for the first quarter 1987 the company reported net income of 103 mln dlrs or 40 cts per share compared to 93 mln dlrs or 36 cts per share for the comparable quarter a year ago
in march 1986 the utility told georgia regulators it would cap the price of vogtle its customers would be asked to pay at 356 billion dlrs the companys share of the then projected 835 billion dlr total
valhi said effective december 31 it changed its fiscal year end from june 30 to december 31
it stated that its john carr unit benefitted from strong organic growth although overseas its cockburn operation had a difficult period with high maintenance costs and increased depreciation charges
securities company sources believe the ministry will permit non residents to issue euroyen commercial paper within the next few months
britannia coin to sell at premium
analyst robert gordon of shearson lehman brothers inc said manufacturers hanover corp mhc has the greatest exposure to brazilian loans of any new york bank in terms of percentage of earnings
peru will sell about 40 state owned firms to trim a projected 740 mln dlrs loss this year among government owned companies
bp bp offer raises expectations for oil values
reichhold rci raises waferboard resin prices
commenting on 1986 seipp said we were able to raise the full operating profit slightly above the record result of 1985 because own account profits increased slightly he gave no concrete details but added that in january and february good own account trading profits meant that the drop in full operating earnings was more modest than that in the partial operating figure
standard and poors corp said it expects downgrades of corporate debt ratings to ease this year from the lofty levels of 1986 and 1985
central bank special drawing right holdings were 282 billion crowns compared with 289 billion in december and 213 billion a year ago
he also told the newspaper he saw no need for large scale intervention in the foreign exchange market because exchange rates are stable
the agency is one of the few in the government that actually has taken in more money than it has spent in the past few years because of fees it charges public companies investment banks and other securities firms it regulates
the five leading west german economic research institutes have failed to agree about how strongly the domestic economy will expand this year but revised down forecasts contained in a report published six months ago
the rest of the shares will be purchased for securities and warrants to buy stock in a subsidiary of pc acquisition containing purolators us courier operations
on other commodity markets brazils selling impact may be muted no matter its need to generate capital
the offering is in addition to 50 mln dlrs of debt securities already registered with the sec but unsold
it said the ec industrial production index base 1980 stood at 1039 in both months
benihana national corp said it signed a letter of intent with tishman realty and construction co inc to build a teppanyaki style restaurant at the hilton hotel at walt disney world village in lake buena vista fal
it had 1986 sales of 21 mln dlrs
shr 1006 cts vs 769 cts final div 40 cts vs 32 making 58 cts vs 50 pre tax 1417 mln rand vs 885 mln net 1006 mln vs 769 mln tax 410 mln vs 116 mln gross premiums 21016 mln vs 17869 mln net premiums written 14399 mln vs 12388 mln underwriting loss 178 mln vs loss 625 mln div pay april 10 register march 27
firm has allegheny intl ag preferred stake
the central bank bought bills outright in band two at 9 13 16 pct comprising 73 mln stg bank bills and 42 mln stg local authority bills
bundesbank bought dollars against yen in frankfurt dealers
plywood credits eyed by reagan administration
more than 50 pct of the banks must give their approval and nogales said he is confident that this threshold will be reached
shr 31 cts vs 41 cts net 436981 vs 583715 six months shr 63 cts vs 82 cts net 901648 vs 1160178
spanish unemployment rises in february
harcourt hbj mum on reed reedl rumors
stephens inc co managed the deal
and on the other side of the balance of harms was the fact that the oil companies had committed approximately 70 mln dlrs to exploration to be conducted during the summer of 1985 which they would have lost without chance of recovery had exploration been enjoined he said
analysts said this would be useful in keeping in line nations like qatar which has had trouble selling oil
the 1987 88 budget deficit is forecast to be 28 billion dlrs against an expected 29 billion dlrs in 1986 87 and 187 billion in 1985 86
i expect other oil exporters have learned their lessons and discipline will be maintained he said
details of the exit bonds are still being finalized gonzalez added
microsoft corp msfto 1st qtr net
total stock exchange turnover for the month was 11673 billion stg marginally higher than the 11665 billion recorded in january but 129 pct more than the 5092 billion of february 1986
scor us corp sure 4th qtr net
by raising the minimum amount of aid required in mixed credits the agreement aims to make such hidden subsidies too costly for frequent use
carter hawley hale stores inc 4th qtr shr loss 158 dlrs vs profit 58 cts
sumitas statement was issued after the dollar slipped below 150 yen to hit a record low of 14840
an international monetary fund imf team is due here over the same period a world bank offical said
shr 81 cts vs 66 cts net 5011000 vs 2314000 revs 573 mln vs 176 mln note results include extraordinary gains of 1593000 dlrs or 26 cts a share in 1986 and 451000 dlrs or 13 cts a share in 1985
domestic use at 5680 vs 5450 last month
if it were to receive fewer shares than that it said it would only purchase sharesd with the consent of purolator
it said the fisher shares will trade in the over the counter market under the symbol fshg
more as the mark soared against the dollar it also rose against ems currencies less favoured by international investors
denominations are 20000 crowns the bond is registered in luxembourg and total fees are 1 7 8 pct
usda estimates european community crops
american capital management aca 3rd qtr net
talks have focused on administrative matters and verification of stocks in producer countries they said
sun co said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
taiwan further relaxes foreign goods import curbs
centronics cen sets preferred purchase rights
the issue is guaranteed as to interest and the put premium by lucas industries plc
in the first 78 days of the year refinery runs were up 18 pct to an average 1225 mln bpd from 1204 mln in the year ago period the eia said
the dollar opened at 14533 yen against 14560 70 in new york and 14525 at the close here yesterday
limits would be placed on the extension of credit by the bank to the associated institutions and all transactions would have to be on an arms length basis heller said
now the banks are complaining but i do not weep for them
chancellor of the exchequer nigel lawson presenting his budget for fiscal 1987 88 to parliament said uk economic growth was forecast at three pct in calendar 1987
in an article in mondays edition of the miami herald baker also criticised the concept of short term debt relief calling it a dramatic overnight solution while these ideas may be well intentioned and have some political appeal they are impractical and counterproductive in the long run he said
domestic crude oil production was estimated at 838 mln bpd down 85 pct from 915 mln a year ago and gross daily crude imports excluding those for the spr averaged 367 mln bpd up 23 pct from 297 mln the eia said
that is its highest level since january 1986
he conceeds that much more study of the idea is needed but argues that such an arrangement particularly if it were adopted by other major industrial countries could reduce the volatility of exchange rates
richardson electronics ltd said it agreed to buy for undisclosed terms geb giant electronics brand a florence italy based distributor of electron tubes and semiconductors
in 1986 the company earned 175 dlrs per share
on march 30 andover group a two man general partnership which owns about seven pct of hbos stock filed preliminary proxy materials with the securities and exchange commission seeking to nominate an alternative slate of directors at the companys april 30 annual meeting
murray said in the annual report issued today that the companys total 1987 capital expenditures would be lower than the three billion dlrs spent in 1986
csr selling delhi to exxon unit drops delhi float
savin said about 1767000 shares of its common stock will be issued as a result of the conversion
coarse grain supply demand by country usda
shr 29 cts vs nine cts net 651000 vs 214000 note 1986 net includes loss of 500000 dlrs for extraordinary item
certainly inflation is not as bad as what volcker fed chairman has said lately
we can say that at least we are saving some money he said
new york based prospect group inc proszo said it acquired 527000 shares of brinkmann instruments inc common stock or 143 pct of the scientific instrument makers common stock outstanding
the 285 mln dlr project is designed to financially rehabilitate the railway the primarily state owned ferrovia paulista sa and improve transportation on the lines leading to the city of sao paulo and the port of santos
the soviet union bought almost 90000 tonnes of raw sugar from international trade houses last night with some of the sugar changing hands at discounts to the spot may world sugar contract according to trade sources
gatt official meets with us farm leaders
prior to 1986 sigma conservatively reported only proven reserves that could be mined without future development costs
us wheat growers set state dept trade meeting
arnox arnxo still in merger talks with txl
the facility is being syndicated by the arranger mitsubishi finance hong kong ltd
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
japanese shipbuilders have applied to the states fair trade commission to form a cartel to restrict tonnage built to about half of total capacity for the year starting april 1 officials of the shipbuilders association of japan said
danforth added that he expects westinghouses sales to grow faster than the markets the corportation serves and surely faster than gnp he said earnings per share growth is expected to consistently exceed the standard and poors 500 index and return on equity will remain in the 18 to 21 pct range
some of the grain is also off the market in futures stores
bankamerica said its outstanding loans to brazil currently total about 27 billion dlrs including about 15 billion dlrs in long term loans and 12 billion dlrs in short term loans
shv also offered 252 pence for every one stg nominal of ic gas loan stock under the bid made by shv united kingdom holding co ltd
greyhound corp said it has signed a definitive agreement to buy general motors corps us transit bus and parts business for an undisclosed sum
the partnerhsip said this compared to 1985 figures of 660000 dlrs or 10 cts a unit
terms were not disclosed
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
little oil was lost in the landslide friday night because taps on the one mln bpd line were switched off after the accident they said
concern over el nino in peru usda report
but the officials said they expect the ec to allow us plants to continue shipping meat through the end of the year provided they submit a plant improvement program with the us agriculture department
this weeks sudden fall in temperatures has affected large parts of the country and has caused fieldwork to stop in the ukraine it said adding that temperatures fell to as low as minus 30 centigrade in byelorussia
at 23 pct the proportion of companies rating their export books above normal was unchanged between february and march
eager technology inc said it signed a letter of intent to acquire nuclad inc a private colorado corporation and its subsidiaries
the hamburgische landesbank girozentrale canadian dollar bond issued earlier today due may 6 1990 at 8 1 4 pct and 101 3 8 has been increased to 75 mln dlrs said merrill lynch capital markets as lead manager
usair said a manufacturers hanover affiliate is currently agent for its 400 mln dlrs revelving credit facility which would be replaced by the proposed two billion dlr financing
one senior trust bank source said that while sympathizing with the ministry position the trust banks had to conduct their foreign exchange operations according to the dictates of the market
clabir said the purchase from the sara lee corp sle subsidiary is worht about 28 mln us dlrs
net profit per five guilder nominal share 933 guilder vs 925 corrected for capital increase final dividend 130 guilders and 24 pct stock vs 130 guilders and 22 pct in stock
market uncertainties and the erosion of portfolio manager confidence could continue portfolio selling pressure a while longer said philip braverman chief economist at irving securities corp
helm resources inc h 4th qtr loss
the company said hecks chapter 11 filing could however affect viners previously reported legal action to recover costs from an aborted merger agreement with hecks
union pacific unp closes venezuelan partnership
hong kongs dairy farm says it bids for 22 pct of kwik save for 1466 mln stg
bundesbank has not intervened today dealers
the company will maintain its dialogue with and care for its customers in accordance with market conditions and take necessary steps to guarantee marketing its production he said
were going to have one of the biggest reductions in the budget deficit relative to gnp in history this year and nobody cares he said noting that only the deficit cut in 1968 69 will have been greater
squibb corp sqb 3rd qtr net
bankamerica corp said it agreed to sell bankhaus centrale credit ag its german consumer banking subsidiary and german credit card operations to banco de santander of spain
henry schroeder bank and trust co and the six new syndicate members ef hutton international inc shearson lehman brothers asia inc dresdner bank ag swiss bank corp international asia inc sogen security corp and swiss union philips and drew ltd will each have a 007 pct share in the securities industry
he described the present accord as a model for commodity agreements due to its being signed by nearly all producing and consuming countries and by virtue of its review systems and control over buffer stock management
payment is due april 30 1987 and total fees are three pct
export quotas were suspended in february 1986 when market prices surged because of the failure of the brazilian crop
the company said it bought 33 lots in colorado from richmond homes ltd an mdc unit in return for 650000 dlrs in promissory notes and 440000 dlrs in preferred stock
ivaco sees minimal first quarter earnings
us supreme court allows delta western merger
penhale will control and manage multi step manufacturing following the transactions
amoco reports south china sea oil find
the government sources said the amount covering the first 50 days of the year starting april 1 accounts for more than 90 pct of the 16000 billion yen in bills incorporated in the full budget
theres momentum in first quarter labor force activity but less than assumed he said
keltic inc year net
he said the extra funds available to greece this year will go towards servicing debts falling due after 1990
while total sales and income rose 55 pct to 1068 billion dlrs from 1013 billion dlrs costs and expenses rose 121 pct to 961 billion dlrs from 857 billion in the quarter the computer maker said
he is chairman of the europe south and south east african conference lines and joint managing director of p and o containers ltd
italy is the largest net beneficiary in 1987 getting 635 mln ecus with britain in second place with 580 mln
rubber producer and consumer countries meet for 12 days in geneva from tomorrow to try to hammer out a rubber pact after they failed to reach agreement last november to replace the current accord which expires next october
eagle pitcher industries inc epi 1st qtr net
the stock is trading at about 1 3 its appraised value
ors seeks canadian funds for heavy oil test
but the company said it has become aware of some possible accumulations of its stock has has received some friendly inquiries
outboard marine om sells 915 pct debentures
it also said it will pay a six cts per share dividend on the pre split shares a regular quarterly dividend on april two to shareholders of record march 13
latest nine mths includes a tax credit of 2330000 dlrs or 119 dlrs
today 28000 employees from 110 companies came out in warning strikes a statement from ig metall said
the company said it foreclosed on the allied bank tower a 12 mln square feet office building at one fountain place dallas
hata said protectionist pressures in the international economy are as strong as ever reflecting financial deficits payment imbalances and serious unemployment in many countries
personal consumption expenditures rose 01 pct or 15 billion dlrs to 28933 billion dlrs in may after rising 06 pct or 186 billion dlrs in april the department said
the government agency said however harcourt canada has agreed to sell control of the firms to canadian interests within two years
on stocks the popular lme continental warehouses antwerp and rotterdam have little more than 3000 tonnes of lead each and this is believed to be in strong hands
the united states has continued to abide by the spirit of the memorandum of understanding and has consulted with the asean states on gsa tin disposals a state department spokesman said in a statement
m
japanese exports contracted five pct in february from january but are likely to grow from march if the yen stabilizes around current levels the officials said
but most consumers and a maverick group of eight producers proposed carving up the export market on the basis of exportable production and stocks which would reduce brazils share to 288 pct
certificated cotton stocks deliverable on the new york cotton exchange no 2 cotton futures contract as of march 31 were reported at 36659 bales unchanged from the previous days figure
green told analysts that utilicorp received regulatory approval from various states and the federal energy regulatory commission to reincorporate in delaware effective april one
algeria tendering for balance eep wheat trade
usair group inc said it entered into a credit agreement with a group of commercial banks to provide on a secured basis up to two billion dlrs to finance its pending acquisitions of piedmont aviation inc pie and pacific southwest airlines
some managers said they would prefer to abolish the system
frns whose coupons are refixed regularly usually trade around par
the overall balance showed a surplus of 48 billion after 26 billion in 1985
commission discussions were closed to reporters but it was apparent from the news conference that task force members did not agree on all points in their report
the number of banks active at the exchange mainly trading government securities went up to 28 this year from 23 when the market was revived in december 1985
the remaining matter to be presented is the proposed acquisition of becor by bcw acquisition inc now one of four offers for the company
foreign exchange reserves totalled 8368 billion crowns compared with 8552 billion in december and 9919 billion crowns a year ago
police sources say the embezzlement charges relate to loans given by the bank to the southern italian based food processing firm jonicagrumi
the coarse grain crop harvest was interrupted last week by rains which also reached over 100 mm in parts of cordoba la pampa and santa fe and almost 90 mm in parts of entre rios
italy consumer prices rise 04 pct in february
sears roebuck and co s 3rd qtr net
the west german government assumes that the commitment to international monetary cooperation which was renewed in washington last month will continue a finance ministry spokesman quoted finance minister gerhard stoltenberg as saying
credit volume 3263 billion marks vs 3351 billion
unleaded gasoline for april finished 055 cent higher to 5124 cts a gallon
parent company pre tax profit 197 billion vs 191 billion
that was not the case two years ago
the bank of japan sources also said that it was too soon to call the g 7 pact a failure
six industrialised nations agreed in paris last month that newly industrialising countries such as south korea and taiwan should allow their currencies to appreciate
in a letter to treasury secretary james baker the group said sanctions should be imposed against japanese chipmakers as of april 1 and should continue until the united states is satisfied that there is full compliance with the agreement
the issue like all swedish domestic paper is closed to non residents
wtd industries wtdi sawmill offer rejected
the implied senior debt rating is b
drawings on the revolving credit will be at a margin of 10 basis points over the london interbank offered rate libor banks are being invited to join at 75 mln dlrs for 10 basis points and at five mln dlrs for eight basis points
it projected the weeks truck output at 80168 up from 72026 a year earlier
we have said all along that the rubber is holding up well from a condition and quality standpoint rubber stored in proper conditions does not deteriorate he told in a telephone interview
mercantile bank na mtrc raises prime rate
pay date is april 6
fujitsu ltd is a computer and telecommunications company based in japan
with a record us trade deficit of 169 billion dlrs last year and a farm economy in the doldrums congress is pressing to hold back us funds for the world bank and other development banks if the money is used to subsidize production or to produce goods already in oversupply around the world
company representatives were not immediately available
manfred laux general secretary of the west german mutual funds association in frankfurt said harmonized rules are to be adopted by october 1 1989 at the latest
argentinas prime objective in renegotiating the debt was to maintain growth which has been targeted at four pct in 1987 baglini said
phillips top priority in 1987 will be to get the waterflooding in norway and jack up the ekofisk oil fields to improve our ability to extract oil and increase earnings silas said
lead stocks held by us refiners rose to 37295 short tons at the end of february from 34224 short tons revised higher at the end of january the american bureau of metal statistics reported
ef hutton efh starts purolator pcc bid
s african consumer inflation falls in september
enzo biochem inc enzo 2nd qtr jan 31 net
in money terms this equalled 36 trillion cruzados giving per capita gdp of 26120 cruzados or 16 pct above the level achieved in 1980 before the recession of 1981 1983 the institute said in a statement
australian unemployment eases in february
the terminal will be able to handle 21 mln tonnes of crude palm oil from new plantations in northern sumatra and western kalimantan borneo he said
the experts say sudan owes 23 pct of its foreign debt to western government creditors 32 pct to governments of eastern bloc and arab countries and 21 pct to commercial banks with most of the rest owed to multilateral sources
these three institutes said new jobs would be created mainly in the private services sector and also by the state in the context of job creation measures
metropolitan currently owns about 257 pct of metex common and holds options to purchase about an additional 16 pct of metex common stock
board will decide on april 24 whether to pay a dividend
drexel burnham lambert inc bear stearns and co inc and ladenburg thalmann and co inc will underwrite the offering
qtly div 26 cts vs 25 cts prior pay april 15 record march 31 note one valley bancorp of west virginia inc
livingwell inc well year
dennis d
he also declined to say what sort of sum unilever hoped to realise from the operation beyond noting that chesebrough had paid around 125 billion dlrs for stauffer chemical co which operates outside unilevers core activities
dealers noted that strong demand had been detected for the bonds yesterday afternoon and interest was further stimulated by sterlings surge at the opening this morning
iraq reports attacks on supertanker oil targets
in his sec filing redstone who estimated his cost of completing the takeover at 295 billion dlrs said bank of america is confident it can raise 2275 billion dlrs
williams cos said it completed the sale of its agrico chemical co unit to freeport mcmoran resource partners lp frp for an initial 250 mln dlrs cash
us defense officials told yesterday that kuwait had decided for at least the time being not to accept a us offer to use american warships to escort its tankers in the gulf where both iran and iraq have been attacking shipping
soares who is expected to announce a decision by the end of the month can either call early elections or form a new government from parties in the existing left wing dominated parliament
they expect the 1987 after tax profits of oversea chinese and united overseas to show stable growth of four to eight pct against respective gains of four and seven pct in 1986
healthmate inc hmte 4th qtr loss
spanish money supply growing at double target pace
in terms of current as well as constant prices the narrowing of the surplus was progressing the bank said
italys gross domestic product calculated at 1980 prices rose 24 pct in the fourth quarter of 1986 compared with the same period in 1985 national statistics institute istat said
the company said its composite prices for alloy plates will also be increased 25 dlrs per ton on the same date adding it does not publish its prices for this product
in the paris currency accord japan promised a package of economic measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and thus reduce its trade surplus
it said lower interest rates which are expected to reduce corporate borrowing costs are also behind the improved performance outlook
we fit better with monier he said
on the exports side agricultural exports rose 600 mln dlrs or nine pct to 71 billion dlrs primarily because of a 104 pct or 600 mln dlr increase in soybean exports
polaroid rose 1 1 8 to 74 1 2
uk money market given further 191 mln stg help
the department of trade and industry said the government was drawing up contingency plans to force japan into opening up its domestic markets but a spokesman said such moves were very much a last resort
s and p assigned a bbb plus rating to hechingers planned 100 mln dlr issue of convertible debt due 2012
japans june interim trade surplus narrows
fed approves amsouth aso affiliation
economists similarly shrugged off slightly higher than expected adjusted bank borrowings from the feds discount window which averaged 310 mln dlrs a day in the latest week compared with many economists forecasts of about 200 mln
it will also receive 25 mln dlrs from beneficial international insurance co another beneficial subsidiary being purchased by the management led group of first delaware the company said
the group said clevebaco lp bought one mln of its shares from bear stearns and co inc on march 9 at 41 dlrs a share
rugby portland cement plc rbyll said it was well placed to operate in the new circumstances following the ending in february of the 53 year old cement manufacturers common price and marketing arrangements
foreign bills remained at zero in march while investments fell slightly to 10569 mln rand from februarys 10656 mln rand and other assets to 202 billion rand from 211 billion the figures showed
no further details of the sale were available
uk average earnings rose 65 pct in year to april underlying rise 775 pct official
one said redstone could begin a tender offer whenever he wanted and if enough people were convinced his proposal was superior to the viacom management plan he would have a chance to win
such action had been widely anticipated yesterday but failed to materialize
outflows for us direct investment abroad fell to 57 billion dlrs from eight billion dlrs in the third quarter
north yemen calls sugar buying tender trade
between january 1 and february 15 132 firms had applied to do a debt equity conversion compared with 100 between may and december 1986
products from the new acquisitions and other new product introductions are expected to enable it to return to profitability it said
were not talking high tech or financial services or about a perfume company he said
japans ldp to call for flexible monetary policies
data architects inc drch 1st qtr feb 28 net
the borrower says to himself well i can travel economy or i can travel first class he said
gerber grb buys gerber systems gsti shares
shr loss 405 dlrs vs loss 247 dlrs net loss 39598000 vs loss 24152000 revs 960 mln vs 879 mln note current year figures include 72 mln dlr provision for anticipated loss on note receivable 254 mln dlr writedown on asset carrying value and 85 mln dlr provision for future operating losses at elsinore shore associates
usda details conservation crop enrollment
purolator was trading at 40 1 4 1 4 above the offer price
it said lower oil exports cut the gcc states combined trade surplus to 18 billion dlrs in 1986 from 215 billion in 1985
mondays board meeting is a regular monthly meeting
s p downgrades dana corps 900 mln dlrs of debt
proceeds will be used to finance acquisitions and for general purposes
arizona and georgia planted 35 pct and two pct respectively it said
but despite the dollars woes japan development bank wholly owned by the japanese government raised 150 mln dlrs in a seven year eurobond carrying an eight pct coupon
the bank the main subsidiary of manufacturers hanover corp said the new rate is effective today
a final decision is expected in april
yesterdays request to 30 trading houses by the ministry of international trade and industry to restrict dollar sales looks ineffective in light of this real demand they said
its no more interest rate capitalisation than if you have a write down in the spread over libor from what existed before the official said in comments suggesting some ought to be granted the rate concessions they seek
usda would have to certify that the plants had corrected the deficiencies
theres a lot of slack a us government official in tokyo said
growth in japans m 2 plus certificates of deposit cd money supply in the october to december period is not expected to accelerate but will remain at high levels between 11 and 12 pct a senior bank of japan official said
terms and conditions of the contract would be subject to approval of various regulatory bodies including the us bankruptcy court
bonn expresses support for us on ec veg oil tax
the company said todays sale reduced its holdings in united to 25 pct
tektronix inc tek 3rd qtr net
hokuriku electric issues 35 mln dlr warrant bond
exxon xon cuts heating oil price traders said
the annual report was released as the banks annual meeting is being held in miami
predicted revenue in the budget looked sustainable and there appeared to be no holding back on expenditure another economist said
bids totalled 19758 billion yen
consumer prices excluding food and energy rose 03 pct in february in line with previous months although there has been some acceleration noticeable in the us and britain
a shareholder group consisting of foreign investment firms and investors said it raised its stake in scandinavia fund inc to 2607900 shares or 400 pct of the total outstanding from 2309700 shares or 354 pct
but the senior officials asking not to be indentified said that despite intense pressure from the reagan administration ottawa was not considering any kind of formal limits on canadian shipments to the us in a sense what i hope we are doing is buying some time said one official who claimed canadian companies were fair traders in the big american market
official capital transactions in february showed a surplus of 786 mln dlrs against a 256 billion surplus in january and a 505 mln surplus a year earlier
poehl said the bundesbank had tolerated rapid money supply growth last year because the country enjoyed low inflation and because external factors including low oil prices and favourable terms of trade had given some extra leeway
in 1986 smithkline earned 5211 mln dlrs or 678 dlrs per share on revenues of 36 billion dlrs
bangladesh purchase of wheat confirmed
exxon corp said that 1986s 15 pct increase in earnings per share to 742 dlrs a share were partially based on its streamlined operations which compensated for the weakness in its exploration earnings and the lowest crude oil prices in a decade
a clampdown on output over one or two years combined with a planned cost cutting and streamlining program and state support should help japanese yards recover their international competitiveness they said
ec produced oilseeds would not benefit more than they do under present aid arrangements he said
total job losses by 1989 were now expected to total up to 7800 against original projections of 5900
actual reserves rose by 189 billion dlrs after rising 305 mln in february to 2226 billion
esso singapore pte ltd said it raised pump prices of petrol from today
as long as there is a gap between prices set under the pact and market prices there will be people who want to exploit the gap to make money a hitachi ltd hitt spokesman said
emery last year lost 54 mln dlrs on revenues of 8875 mln dlrs
listing will be in luxembourg
taunton savings bank tsbk sets first dividend
through the wet process we can process coconuts into other food or non food products or we can go to the chemical root he said there was a tendency for agricultural countries to become more protectionist and he expected export prices of coconut products to drop
huckaby said he has tried to stress in his speeches to sugar industry groups that if growers continue to expand they may be penalized retroactively under any production control legislation passed next year
they said an iranian blockade of the strait of hormuz was unlikely because it would block irans oil shipments
it said the approval overcomes the last potential federal hurdle to converting midland to a combined cycle natural gas fired cogeneration plant
deposits and interbank borrowings rose to 680 mln dlrs from 550 mln he told 
shr 33 cts vs 13 cts net 2266000 vs 849000 revs 241 mln vs 160 mln 1st half shr 61 cts vs 24 cts net 4236000 vs 1619000 revs 474 mln vs 335 mln note share after stock splits
it has been the biggest contractor for the japan defence agencys f 15 and f 14 jet fighters and missiles although all of these have been built under licence from us firms
last year general tire had operating profits of 79 mln dlrs on sales of 11 billion dlrs and gencorp had operating profits of 130 mln dlrs on sales of 31 billion dlrs
we cannot remain indifferent to the pressure of creditor banks since there is correlation between political stability and the economic situation weizsaecker told reporters
pergamon holdings reduces bpcc and hollis stakes
usda and private sources agreed that consideration of an eep initiative by interagency review groups likely would be delayed because of disarray within the white house stemming from the iran arms affair
shr loss 53 cts vs loss 55 cts net loss 3865000 vs 3963000 revs 242 mln vs 268 mln year shr loss 121 dlrs vs profit 56 cts net loss 8758000 vs profit 4040000 revs 1085 mln vs 1138 mln note prior qtr figures include income from discontinued operations of 10000 dlrs gain on disposal of discontinued operations of 269000 dlrs or four cts per share and operating loss carryforward gain of 936000 dlrs or 13 cts per share
san miguel corp reported sales revenue of 122 billion pesos in 1986 11 pct above its 109 billion peso sales in 1985
the company said shareholders of michigan sealy will receive a total of 486 mln dlrs subject to adjustment from the acquisition and the settlement both of which are subject to regulatory approvals
bank of finland will announce new measures
the reduction should help india reach its coffee export target of 90000 tonnes in fiscal 1987 88 ending march 31 against provisionally estimated exports of 75000 tonnes in 1986 87 and an actual 99254 tonnes in 1985 86 he said
as earlier reported evans said he was inclined to target any tax changes rather than take a broad based approach to secondary taxation of petroleum
edwin jacobson chicago milwaukee president declined to comment on movement of the companys stock but said from an investment point of view we are pleased to have shearson lehman as a substantial investor shearson lehman purchased the shares for investment purposes and may continue buying shares depending on market conditions according to the filing
pan alberta gas ltd said its 1986 proposed settlement with united gas pipe line co of houston received unconditional approval by the us federal energy regulator commission
the banks economist henry azzam said in a review of gulf capital markets that investors have to relinquish traditional investment vehicles such as real estate foreign currency bank accounts and precious metals
amcast industrial corp said it completed the sale of its newman division to newman manufacturing inc a new company formed by newmans employees
export director carlos santana told reporters the saudis were the first suppliers of oil to impose such conditions after brazils decision to halt interest payment of its commercial debts last month
the federal home loan mortgage corp adjusted the rates on its short term discount notes as follows maturity rate old rate maturity 31 days 595 pct 600 pct 32 days
it said it and sunter intend to vigorously oppose the action
smith who flies to brussels today for talks with european community ec officials told the committee wanted to stress gatts importance and did not discuss specifics
in december inventories fell a revised 34 billion dlrs or 06 pct to 58665 billion dlrs
demand would have to stay above 70 mln bpd to have a draw he added
the companies have been told that the commission could not judge whether a plan would be acceptable under european community ec competition rules until it had full details they said
empire of carolina inc emp year net
usair said it has been advised by norfolk southern that the company supports the proposed merger and intends to tender all of its remaining 1477829 piedmont common shares in response to usairs tender offer which began today
proceeds will be used for general corporate purposes including the acquisition of seattle trust and savings bank which is scheduled for july one keycorp said
central bank general manager hector neyra told reporters that many of the credits were for 90 day terms and could be used several times a year
he omitted the token prepayments in previous announcements but said there was nothing secret about them
harper said no determination had been made as to any transaction and that its special committee is continuing in talks with interested parties in an effort to come to a conclusion in the near future
the company said the acquisition of the new systems will add to its presence in new york
indonesian soybean imports forecast to rise
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
he warned the bank may run the risk of missing the interest rate boat
us exporters report 900000 tonnes corn sold to the ussr for 1986 87
more
reduction of trade distorting world agricultural subsidies an aim of most key participants in gatt multilateral trade negotiations is meaningless if import barriers continue to be erected samuels said
wall street feared that collapse of the agreement might be a prelude to hyper inflation and economic malaise similar to the late 1970s
shareholders also approved increasing the number of shares reserved for options to employees to 300000 from 150000
autospa corp said it has signed an agreement to purchase 2400000 shares of eight pct convertible preferred stock of cardis corp representing voting control for 15 mln dlrs
the banks target range for growth in this measure in 1987 is 65 to 95 pct compared with 114 pct last year
island telephone share split approved
venezuela has restructured its debt so that most of it is being repaid at 7 8 pct which i think is better than the other countries he said
bhagat told parliament
lincoln financial corp lfino 3rd qtr net
terms will be set on march 24 with payment due april 23
the may rate surpassed the previous record of 30 pct marked set in january and april this year
energy development edp had year loss
south koreas current account surplus narrowed to 419 mln dlrs in february from 679 mln in january compared with a deficit of 112 mln dlrs in february last year provisional bank of korea figures show
bejam group plc bjaml 27 weeks to january 3
the 500000 mt per year plant will be constructed at jose in eastern venezuela and fed by butane produced at pdvsas eastern cryogenic complex
the resolutions approved by voice vote now will be sent to the senate floor were they are expected to be approved
shr loss 33 cts vs loss one ct net loss 320000 vs loss 8000 revs 822000 vs 405000
saudi arabian oil minister hisham nazer said opecs december agreement to stabilise oil prices at 18 dlrs a barrel was being implemented satisfactorily and there was no immediate need to change it
cambrian and general securities plc said the london stock exchange has restored the listing of its 50 mln dlrs of secured floating rate notes dated 1992 at the companys request
plenum publishing corp plen 4th qtr net
the stock was acquired for investment purposes the group said adding it may purchase or sell additional shares in the future
it is probable that some 18 mln tonnes have already been taken up they said
1986 year revenues include 187 mln dlrs from gain on sale of quality sausage co inc
sogenal is the only french bank in austria it set up the first foreign exchange dealing room outside paris at its strasbourg headquarters in 1985 and is the only foreign banking subsidiary to be a broker on the zurich bourse
1985 year and qtr includes gain of 10 mln dlrs and loss of 190000 respectively from discontinued operations
czarnikow says in its latest sugar review
usda estimates 1986 soviet grain crop at 210 mln tonnes vs 210 in march 192 year ago
i am afraid there are no more survivors he said
for lunch i buy the teishoku daily special which comes with soba buckwheat noodles or pork cutlet pickles miso soup rice and tea although she takes only coffee for breakfast and a sandwich for dinner
iels acmex unit to bid for cheetham
middle south has petitioned the court for a rehearing or a stay of the order while it is being appealed
banks express grave concern on brazil debt moves
nogales said bolivia would offer to buy back the debt at a market price
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
basf ag basff 1986 year
british petroleum lp gas international said it cut its north sea lpg liquified petroleum gas posted price for propane to 95 dlrs from 110 dlrs a tonne effective june 1
us agriculture department animal health officials are conducting a national survey of live bird markets and auctions to check for signs of avian influenza an infectious viral disease of poultry the department said
dynamics which now owns 275 pct of cts outstanding stock said it agreed to limit its shareholdings to not more than 35 pct of the outstanding shares for a year following the companys 1987 annual meeting
peoples heritage bank phbk 1st qtr net
buffer stock purchases of forward shipment cocoa from quality producers such as ghana will have only a limited impact on futures but is likely to widen physical market premiums for this cocoa over futures
exports in october 1986 were 20064 down from 38853 a year earlier while november exports were up from 32796 to 50855 tonnes
still mccarthy said it may have had a cumulative miss in its estimates over the week that caused it to add fewer reserves earlier in the week than were actually needed
harris said its dealings in bell stock are on behalf of its advisory clients
because of unprecedented and ever growing smuggling hasco regrets it cannot continue to accept delivery of sugar cane after april 10 the mill warned planters earlier this week
japan february reserves record 5173 billion dlrs
on february 12 it reported unaudited results
a special meeting between importing and exporting countries ended in a deadlock late yesterday after eight days of talks over how to set the quotas
export credit bank founded by caribbean nations
amatil in which bat industries plc btil holds a 41 pct stake said it does not expect to maintain its latest annual dividend rate of 29 cents a share on the enlarged capital
us wheat in senegal market usda
there has been no real two way business today neither has there been any new issues for diversion noted one trader
stevenson said k mart will continue to operate the stores
standard and poors corp said it downgraded 225 mln dlrs of debt of beverly enterprises
conagra cag completes merger with trident
all three tranches bear an 11 pct coupon with average issue price of 101 1 8 and average fees of 1 1 2 pct payment date may 14 1987
it said a finding on any possible increase should be completed by april 15
phh group inc phh 4th qtr april 30 net
robert brusca of nikko securities co international inc argued that an easier fed policy is unlikely to do much to solve americas most urgent economic problem its massive trade deficit
nfs financial nfsf sets initial dividend
chairman john hall who also spoke at the meeting advocated some form of federal tax incentives to help spur development of synthetic fuels
usda reports corn sold to ussr
1987 nine mths net includes 166 mln dlr charge for settlement of suit
terms were not disclosed
a us insurance broker for 56 mln dlrs
marine corp mcoro 3rd qtr net
western officials say the lifting of sanctions and new mfn status will have little impact on poland which has a hard currency debt of 335 billion dlrs and lacks the means to modernise its industry
about 2800 members of local 222 are affected by the shutdown
since debtor nations problems were normally treated on a case by case basis perhaps the same principle should apply to creditors central bank president francisco gros said
it does not even figure in the countrys foreign trade policy
dealers said market fundamentals could justify a further easing but a combination of technical factors and renewed currency uncertainties surrounding the dollar had put short term upside pressure on interest rates in recent sessions
group shr 1356 yen vs 2706 net 2161 billion vs 3893 billion current 3766 billion vs 4670 billion operating 5737 billion vs 7991 billion sales 1789 billion vs 1692 billion
the embassy noted the ministry of trade tightened quality controls on tea in october 1986 in an effort to become more competititve in the world market
rebates requested ranged from 12775 to 13250 european currency units a tonne for maize 13600 to 14100 ecus a tonne for barley and 13425 to 14181 ecus for bread wheat while rebates requested for feed wheat were 13765 ecus they said
shr profit 26 cts vs loss nine cts net profit 103 mln vs loss 10 mln revs 2082 mln vs 1233 mln year shr profit 38 cts vs profit nine cts net profit 130 mln vs profit 28 mln revs 6355 mln vs 4293 mln note 1986 full year results include extraordinary loss of one mln dlrs or three cts per share
money market dealers said conditions seemed right for a quarter percentage point cut reflecting an easing in the 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
systematics inc syst 3rd qtr feb 28 net
net includes loss 294000 dlrs vs nil in quarter and gain 2248 mln dlrs vs loss 1750000 dlrs in year from settlement of liabilities under plan of reorganization from chapter 11 bankruptcy
the inventory to sales ratio rose to 138 up 07 from december the department said
coastal cgp raises oil posted prices
one really cannot expect a positive conclusion to todays talks the source added
gramley said he is worried that consumer spending may slow because inflation is rising faster than real wages
us wine exports rose 15 per cent last year
he defended the usda differentials saying that these price margins reflect an average of prices throughout the year and that seasonal factors will normally cause prices to increase or decrease
the 30000 member mainly black chemical workers industrial union said it fears the planned move to the bophuthatswana homeland where south african unions are not recognised could lead to job losses and affect wages
the pakistani government allowed the private sector to export cotton and rice in a new trade policy announced to cover the next three years
crew union sets pact with pacific southwest psg 
co lead is pru bache securities
brougham noted that so far the us banks have only reached 83 1 2 pct of the total that is expected from them while the level of contributions from the uk banks is well in excess of 90 pct
however it said official sources still believe that this years el nino will have only weak to moderate intensity
the revaluation formed part of a new go it alone economic strategy which kaunda adopted to replace zambias imf austerity program
us grain traders and merchandisers said earlier this week usda might act soon to reduce the cash corn price premium at the gulf versus interior price levels by dropping ascs posted prices to encourage interior pik and roll movement
i suppose that under that condition there is a danger our exports will continue to drop and that the government will continue to accumulate large stocks of soybeans he said
ed jenkins d ga intends to push separately a bill to protect the domestic textile and shoe industry an aide said
i want to be sure this institution is viewed by those who must support it as soundly constituted so that it will be permitted to grow conable said
the directors are expected to end their meetings later today and the ibd governors will start a two day annual meeting in istanbul on saturday
independent newspapers ltd inl said it bought two more community newspapers in houston texas through a subsidiary there for an undisclosed sum
i favor the maximum fill rate of 100000 bpd herrington said
a cyclops spokeswoman said the company had no immediate comment on the sweetened bid from cyacq
the countrys current account deficit narrowed to 1069 mln dlrs in october from 79 mln in september and 1175 mln in october 1985
us brass mill copper stocks lower in january
a crop of seven billion bushels is close to the annual us corn usage so surplus stocks while not decreasing would not increase significantly a specialist said
geo
oper also excludes tax credits of 158 mln vs 5954000 for qtr and 178 mln vs 116 mln for nine mths
the four billion dlr increase in brazils 100 billion dlr debt would represent no increase in the real inflation adjusted size of its liability he said
the conference expressed satisfaction about the positive results of the agreement signed in december 1986 by which opec re established the system of fixed price at a level of 18 dlrs per barrel supported by opec production ceilings distributed into national production levels
austria has decided to redeem six years early a 20 billion yen 12 year 85 pct samurai bond due on august 18 1993 daiwa securities co ltd said as lead manager
he said the firms function has evolved into one primarily of strategy structure and financial and personnel policy he said jardine matheson will reduce the size of the board of directors but will simultaneously create a new pacific regional board
gold was fixed this morning in london at 41130 dlrs
argentine debt negotiator confident of accord
us senators seek to expand usda export bonus
algeria bought 75000 tonnes for november and early december shipmet at that bid but usda rejected the bid on wheat for later shipments the sources said
rice and wheat farmers in china wheat and sugarcane growers in australia and tea planters in sri lanka all face serious losses to their respective harvests unless rains arrive in time to break the droughts offical reports government officials and meteorologists said
colombia the only major latin american country not to have rescheduled its external public debt has a total foreign debt of 136 billion dlrs
a total of 706470 tonnes of french sugar and 79000 tonnes of west german sugar has been accepted into intervention trade sources said here
under the program workers building roads digging irrigation canals and engaged in other rural development activities get their daily wages in wheat instead of money
hj heinz hnz poised for record year
the amount will be set at tender on april 3 between 0700 and 0730 hours gmt
it also said it restructured its board to include three members designated by the investors including pierre schoenheimer roger kirk and leonard lichter
citicorp had suggested yesterday that dixons extend its tender until march 31 in connection with the price increase
these relate primarily to the conosolidation and elimination of duplicate facilities and staff
new chief elected for world sugar organisation
at the same time a number of company executives testified that the nations domestic exploration and production segment was still hurting and in need of government help
a company spokesman would not comment further
much more serious for hong kong is the disadvantage of action restraining trade he said
shr profit nil vs profit nil net profit 27622 vs profit 5556 sales 1031306 vs 840906 nine mths shr loss one ct vs loss two cts net loss 195095 vs loss 445379 sales 2702085 vs 2219961
cooper said cross channel ferries were normally perfectly stable but had huge wide deck areas above the water level
multi step to sell ladder unit cancel shares
china should also earn more foreign exchange from tourists and contracted labour abroad he added
leigh pemberton noted there had been excesses in takeover activity in the recent past
handy and harman hnh 4th qtr loss
they were responding to rumours in the japanese bond market that the central bank was planning to cut its 25 pct discount rate soon possibly before prime minister yasuhiro nakasone leaves for washington on april 29
the companys superstar video business which rents video cassettes in supermarkets continues to operate at an expected loss the company added
retail sales fell to 1198 billion dlrs from 1199 billion dlrs in december 1986
calny clny rejects pepsico acquisition offer
shr 24 cts net 412737 revs 605321 year shr 93 cts net 1577892 revs 2345261 note full name cpl real estate investment trust
as we can see from the market expectations for a further revaluation of the deutschemark have diminished schlesinger said
the spokesman said it was too early to predict whether the move would herald a reduction in discount rate which currently stands at eight pct when the bank holds its regular weekly meeting at which the rate is discussed next wednesday
net profit 2529000 vs loss 1066000 revs 590 mln vs 526 mln year net profit 154 mln vs profit 865000 revs 2470 mln vs 2311 mln note company became wholly owned and operated by donald trump in may 1986 when he acquired 50 pct interest that had been owned by former operator holiday corp hia
canada to monitor steel imports exports
the wheat growers official noted however that there is significance in that fact that we havent seen any significant negative commentary on the idea of eep wheat to the soviets in a meeting with exporters this week secretary of agriculture richard lyng refused to comment on their request that the administration offer subsidized wheat to moscow the officials said
may 750 south down 11
azpurua spoke to reporters after meeting representatives of the kreditanstalt fur wiederaufbau kfw bank of germany who tommorrow will sign a agreement to grant 100 mln marks 549 mln us dlrs in credits to venalum
1986 year net excludes 133000 dlr provision for loss on disposal of discontinued operations
sales rose to 131 billion dlrs from 113 billion dlrs
china bought 6000 tonnes of malaysian refined bleached deodorised palm stearine today for may shipment at prices equivalent to around 270 to 275 dlrs per tonne fob traders said
the bank has also been run for the past 12 years by a mexican antonio ortiz mena who has been increasingly critical of us debt strategy in the last two years
zaire has been authorized to purchase about 30000 tonnes of us rice under an existing pl 480 agreement the us agriculture department said
it had opened here at 14185 yen
however he and others pointed out that the secondary market has not seen heavy selling by institutions funds and other investors
mitsubishi motors australia ltd mmal reported a 1964 mln dlr net loss in calendar 1986 from a 580 mln dlr profit in 1985 on turnover of 83779 mln dlrs from 94289 mln
consumer prices rose by 161 pct in the year to january
the ec commission confirmed it granted export licences for 118350 tonnes of current series white sugar at a maximum export rebate of 46496 european currency units ecus per 100 kilos
banks must make their bids by 1400 gmt today
monarch avalon inc mahi 3rd qtr jan 31 loss
but as with all paris club pacts specific interest rates and other details have to be negotiated on a bi lateral basis with the countries involved
terms were not disclosed
bildner and sons inc said it expects improved earnings and sales in the current fiscal year
the tender offer was to have expired yesterday
taiwan issues more certificates of deposits
french official reserves 42050 billion francs in may vs 42024 billion april official
the trade missions purchases here included three boeing passenger planes for 400 mln dlrs four mcdonnell douglas planes for 300 mln dlrs and machinery worth 725 mln dlrs
german wholesale prices fall 04 pct in february
safety kleen corp said it agreed in principle to acquire mckesson envirosystems co a subsidiary of mckesson corp
it is a diversified agriproducts company which produces and sells industrial and consumer flour flour based products and baked goods
goldman sachs and co told the securities and exchange commission it sold nearly its entire stake in first pennsylvania corp of 2450598 shares or 52 pct of the total outstanding common stock
the yen closed here today at 15153 to the dollar
american recreation centers inc amrc 3rd qtr
it left open the possibility that it might buy more leaseway stock or sell some or all of its current stake but said it has no plans to seek control of the company
1986 net both periods excludes tax credit 1288000 dlrs
everything else is nothing but speculation he said
if the court decides they should be converted at par value of one dlr they could be converted into 220 mln shares
oper shr loss 102 dlr oper loss 631000 dlrs note prior year results are not available as company completed its public offering in april 1986
the company will be consolidated with mcgraw hill france it said
the denominator chosen by central bank governors has not been disclosed but some bankers expect the currencies to be linked to the sdr or a trade weighted basket
there were six grain ships loading and six ships were waiting to load at portland according to the portland merchants exchange
reed pointed out the us administration and the soybean industry view the ec proposal as violating the general agreement on tariffs and trade
trilogy resource corp said teck corp agreed to purchase 45 mln trilogy common shares at one dlr per share in a private placement which would increase its stake in trilogy to 37 pct from 29 pct
deposits of non bank customers also increased in january to 349 billion from 338 billion a month ago and 277 billion a year ago
the central bank purchased 625 mln stg of bills for resale to the market on april 7 at rates of interest between 9 15 16 pct and 10 pct
qtly div 1 3 4 cts vs 1 3 4 cts prior pay april 15 record april one
the us department of agriculture said farmers intend to plant 676 mln acres of corn down from 767 mln planted last year and 568 mln acres of soybeans down from 615 mln
ussr wheat imports are forecast at 1500 mln tonnes in 1986 87 vs 1500 mln tonnes last month
non opec production will begin to decline and the gap between demand and supply will widen so that the trend to increasing dependence on opec and the middle east is inevitable mcivor said
imatron inc said mitsui and co ltd of japan has purchased a two mln dlr equity interest in imatron at market price and was granted a 120 day option to make another two mln dlr investment at the same price
oper shr loss one ct vs loss four cts oper net loss 336000 vs profit 2631000 revs 2372 mln vs 3823 mln avg shrs 474 mln vs 165 mln year oper shr profit 21 cts vs profit 12 cts oper profit 9922000 vs profit 151 mln revs 11 billion vs 16 billion avg shrs 474 mln vs 165 mln note 1986 4th qtr and year oper net excludes a gain of 286 mln dlrs and 285 mln dlrs or 60 cts per share respectively for discontinued operations
and he said environmental considerations will play a larger role in the evaluation of proposed projects
indonesia rejected world bank recommendations for sweeping reforms to its farm economy as the countrys foreign aid donors met to consider giving it 25 billion dlrs in grants and soft loans
hudsons bay co said a writeoff of 404 mln dlrs or 139 dlrs per share that it took in 1986 was mainly due to its investment in dome petroleum ltd dmp the company reported an operating profit of 330 mln dlrs or 32 cts per share for fiscal 1986 compared to an operating loss of 9055000 dlrs or 123 dlrs per share in the previous year
somerset savings bank sosa 4th qtr feb 28 net
shr three cts vs three cts net 9820000 vs 91898 revs 2843520 vs 2372457 year shr 13 cts vs 21 cts net 401179 vs 681374 revs 105 mln vs 9699535
it said it has asked symbion to provide its shareholder list to help in disseminating the offer
this is the first time a japanese bank has bought a stake in a portuguese bank
qtly div 125 cts vs nil pay april 3 record march 16 note in quarters preceeding 4th qtr dividend was 29 cts
if the transaction is approved carsons said its stockholders will receive 30 dlrs cash and one share of common in the new carson pirie scott and co for each share held
however much depends on whether high fructose corn syrup producers continue to expand their share of the us sweetener market from just over 50 pct huckaby said
eishiro saito chairman of the federation of economic organizations keidanren said the yens present rate is well above adequate levels
rubbermaid rbd sees continued improvement
gillette has been the topic of takeover speculation for several weeks
kdi corp kdi 1st qtr march 31
light crudes are overpriced relative to heavy crudes asked if the issue of differentials would be raised at the next opec meeting to be held in vienna on december 9 ali said if my crudes are affected i will raise the issue i will not do the work of another minister kuwaits own crudes range from medium to heavy grades
belgian three month treasury certificate rate cut 010 points to 740 pct official
people here understand gold and they understand warrants he said
1st qtr shr 16 cts vs 10 cts net 808850 vs 297266 revs 139 mln vs 7588280 avg shrs 4926566 vs 3123411
asked about the iranian rhetoric white house spokesman marlin fitzwater said we wont have any comment or response to the iranian statements
japans trade surplus in nominal terms is likely to remain high in the near future the central bank said
council president george keller who also is chairman and chief executive officer of chevron corp told a news conference that the region had difficulties in persuading companies to locate there because of a fragmented local political system
carney told the house of commons she will soon announce an amendment to the exports and imports permits act to set up the monitoring program
the company noted that easter sales fell in march last year and are falling in april this year
vertex industries inc vetx 2nd qtr jan 31 net
but conflicting with this trend are plans to increase west german tax cuts part of the paris currency pact designed to meet us demands for faster west german growth
industry analysts said some imports of algerian lng were feasible
its net loss for the nine months ended october 31 totaled 47 mln dlrs after a 197 mln dlr third quarter loss tied to strikes and plant shutdowns at its british and french operations
and pb myers packaging business to union camp corp to focus on its consumer products and automated distribution system businesses
government securities outstanding fell three mln dlrs to 22408 billion dlrs in week ended march 11 treasury bills rose 600 mln dlrs to 7515 billion dlrs and canada savings bonds fell 294 mln dlrs to 4405 billion dlrs
tass news agency announced yesterday that grain products minister grigory zolotukhin 75 was being retired and replaced by alexander budyka a senior food industry official
28 and march 18
we have to look at national security and cut the amount of products and crude coming into the country if it hurts the industry said archie dunham vice president of petroleum products at conoco subsidiary of dupont corp dd us oil imports account for about 38 pct of us consumption but are expected to rise to 50 pct by the mid 1990s according to the department of energy
the dividend will be payable to holders of record april six and expire 10 years later on april 6 1997
turkey oil pipeline near the southern town of adana after it was cut by a landslide the hurriyet and anatolian news agencies said
coca cola enterprises inc said it filed with the securities and exchange commission a registration statement covering 500 mln dlrs of debt
the paris club agreement was for a rescheduling of the 75 billion dlrs of medium and long term debt due between september 1986 and end 1987 over 10 years with five years grace
deutsche genossenschaftbanks aschoff stressed west germanys heavy dependence on exports and the need for currency stability
shr loss eight cts vs loss 20 cts net loss 469000 vs loss 1104000 revs 3093000 vs 3056000 nine mths shr loss 19 cts vs loss 29 cts net loss 1098000 vs 1646000 revs 9562000 vs 122 mln
the federal securities and exchange commission sec is looking for possible securities laws violations in connection with an unsuccessful 1986 bid by hollywood producer burt sugarman to take over tre corp attorneys contacted by sec investigators said
it would be insane to pinpoint an exchange rate ahead of an election i dont believe lawson is mad enough to tie himself to a fixed rate brett said
in his testimony haggard indicated there are ways other than a marketing loan which should be considered to help soybean growers such as a so called producer option payment or a direct payment program
healys numbers are near the low end of wall street estimates which range from five dlrs to 780 dlrs in 1987 and from four dlrs to 1080 dlrs in 1988
economists were also heartened by further signs of a deceleration in money supply growth not only in the largely discredited m 1 gauge but also in the more closely watched m 2 and m 3 aggregates
it did not elaborate
metal box issues 60 mln stg convertible bonds
columbia first cffs takes over bank
cook said it believes the reasons for its losses since october have been identified and are mostly non recurring
concepcion told in an interview that the informal general agreement on tariffs and trade gatt meeting gave ministers from more than 20 nations the chance to examine issues with which gatt did not have the political will to deal
cpc said ajinomoto is also purchasing 50 pct interests in cpcs wholly owned subsidiaries in hong kong malaysia the philippines singapore taiwan and thailand
itoh and co hong kong ltd wako international said
it said that the treatment for the bonds had not actually been determined although it had been estimated that holders would receive about 10 pct of the nominal value of the bonds which was the percentage to be assigned to property claims
the national planning department forecast that in 1987 coffee colombias traditional major export will account for only one third of total exports or about 15 billion dlrs
it was lead managed by den danske bank
separately west berlin state central bank president dieter hiss told journalists that the discount rate could fall below its lowest ever point of 275 pct
us agencies disagree over iran computer sales
the six new foreign brokers are ef hutton and co inc shearson lehman brothers asia inc dresdner bank ag drsdf swiss bank corp international asia inc sogen security corp and swiss union philips and drew ltd the syndicate agreed after negotiation in april 1982 that 26 pct of 10 year government bonds should be underwritten by 93 securities firms 17 of them foreign and 74 pct by banks
alcan aluminium ltd alto 3rd qtr net
jostens corp said it agreed to sell its proprietary school business to careercom corp for 20 mln dlrs in cash and about 17 mln careercom common shares
opec also decided to limit first half 1987 output to 158 mln bpd and proposed ceilings of 166 mln for the third quarter and 183 mln for the fourth
the sanctions will end all military cooperation and cut economic aid
it said a 31 mln stg grant would be disbursed over three to four years under an agreement signed here yesterday between the indian finance ministry and the british overseas development administration
equatorial communications equa to have losses
the issue is guaranteed by internazionale fiat holding sa and is accompanied by a 200000 currency warrant package
european community finance ministers discussed the economic outlook for the 12 nation bloc and many said a recent gloomy forecast by the ec commission was too pessimistic
in their joint spring report the institutes were divided about 1987 growth forecasts with three predicting two pct expansion and the other two only one pct growth
the yens 40 pct climb against the dollar over the last two years has hit the export driven economy hard by forcing its companies to raise prices and lose sales in the us market
to reverse such a rise in the money stock interest rates would have to be lowered to allow funds to drain off
spot next was indicated at 8 1 2 seven after opening bids of 10
britain will from next autumn mint and market a new bullion coin called the britannia containing one ounce of 24 carat gold together with bullion coins of smaller denominations a treasury official said
edelman had no comment on the rumors
the companys convertible subordinated debentures were priced late tuesday by lead manager first boston
shr loss three cts vs profit 14 cts net loss 79778 vs profit 458176 revs 1063623 vs 1165186 note 1986 year includes 400000 dlr writedown on utah oil and gas properties
in 1986 it won new orders in the us pakistan nigeria and egypt
the us treasury said it will auction 25 billion dlrs of two four and seven year notes next week to raise a total of 9275 billion dlrs of new cash
the unadjusted shipment index rose 14 pct from a year earlier after a 10 pct year on year january gain
mexico expects one to two pct growth instead of the two to three pct projected earlier and inflation near 80 pct after 105 pct last year
shifts in domestic economic policy not a further fall in the dollar or trade restrictions are the key to reducing imbalances in trade and payments dutch finance miniister h
we have established rules which will permit us to withdraw immediately the surplus of cocoa on the world market bra kanon told reporters after the council adjourned
us based speciality food retailer mrs fields inc which earlier announced pre tax profits of 171 mln dlrs in 1986 against 68 mln in 1985 said it plans further growth this year with the opening of 125 new stores in the us the company which is quoted on londons unlisted securities market usm said it also planned to expand its outlets internationally
it is the most important thing that has happened in the plessey telecommunications business said plessey telecommunications managing director david dey
poland is accusing the west of letting economic relations deteriorate for political reasons said one expert
overall banks holdings at the bundesbank rose 102 billion marks to 585 billion at the end of the month averaging 509 billion in the whole of march
paris also supports a move for an oils and fats tax which west germany is against along with britain denmark and the netherlands
the company lost 658000 dlrs on sales of 116 mln dlrs in the year ended july 31
an official with one of the chinese banks said the deal was launched at an effective yield of 726 pct in line with the market at that time
sterling outlook clouded by test of paris accord
the acp estimates this would result in a fall of 160 to 185 mln ecus in its member country exports
unocal ucl scraps fluidized bed boiler project
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
but they said it might make new lending even more remote
uganda pulls out of coffee market trade sources
it said the offer is also conditioned on gencorp redeeming the defensive rights or general partners being satisfied that the rights have been invalidated and general partners obtaining from the federal communications commission a special temporary authorization allowing completion of the acquisition of gencorp shares
statistics canada reported the surplus was driven by a 23 pct gain in automobile product exports to a record 32 billion dls in the month
it is still a time for prudence and caution and the companys actions will continue to be based on the fundamentals of market supply and demand he said
about 90 mln dlrs of this equivalent to nearly half guyanas annual exports would be owed to the imf
uk money market given further 570 mln stg help
both bonds will in principle be redeemable at par on april 21 1999
howard berman d calif would like to see the definition extended to include sugar cane cultivation of which is a breeding ground for one of the scandals of the nation gene smith a spokesman for berman said
willcox and gibbs wg to make acquisition
for the fiscal year ended april 3 1987 electrospace systems had earnings of 10 mln dlrs on sales of 191 mln dlrs
terms were not disclosed
the borrower says to himself well i can travel economy or i can travel first class he said
official statements in recent weeks had indicated that the key psychological level of 150 yen was at the lower end of the authorities permissible range
kjeldsen said copa had urged the ministers to pursue international negotiations on farm trade with the aim of bridging the gap between ec and world prices
it has risen about two cents this week alone
uk delegates talk of stabilisation and the need for prices to reflect changes in market structure and price trends rather than dictate what prices should be
he said sprint currently does not have access to mexico but was working on it
to help maintain our open access to the us steel market the government is taking further action to ensure we have more accurate data on exports and imports and that canada is not used as a backdoor to the us market by offshore suppliers carney said
it said such a change would slow real gnp growth to an average of two pct annually during the seven year period to 1993
dumez unit has 94 pct of westburne wbi 
venezuela sees flat oil price despite us attack
bundesbank president karl otto poehl said a weaker dollar would be risky and a further appreciation of the mark would damage prospects for sustained west german economic growth
shr 40 cts vs 41 cts net 1979000 vs 2101000 revs 677 mln vs 636 mln 12 mths shr 36 cts vs 20 cts net 1798000 vs 1034000 revs 2394 mln vs 2332 mln
in 1986 china had a trade deficit of 119 billion dlrs down from a record 14 billion in 1985
co steel inc 4th qtr net
dome has pledged its 425 mln encor shares as security for part of its debt to canadian imperial bank of commerce estimated last year at 947 mln dlrs
finance minister barend du plessis said the reserve bank was investigating the implications of such conversions in light of terms and restrictions of the financial rand system du plessis in disclosing the new agreement last night said the recent sharp rise in the financial rand was an example that some foreign investors are again taking a more realistic view of south africa terms of the debt agreement call for south africa to repay 142 billion dlrs of 13 billion dlrs of frozen debt over the next three years
the basket comprises principally the us dollar yen mark swiss franc french franc sterling guilder canadian and singapore dollars it added
the margin for the loan remains unchanged and no penalty interest is being imposed the sources added
the bank of england said it gave the money market assistance worth 106 mln stg this afternoon buying bank bills at the rates established on monday
arango said an illustration of colombias new attitude was the decision on friday to open export registrations for an unlimited amount
the soviets want a higher subsidy offer this time the state department source said
shr loss 13 cts vs profit 10 cts net loss 1804062 vs profit 1370063 revs 335 mln vs 404 mln 12 mths shr loss 51 cts vs profit cts net loss 7030235 vs profit 9163141 revs 1494 mln vs 1679 mln note income before taxes for the 12 mths ended jan 1987 includes gains 895000 for fire insurance settlement and unusual charges of 7900000 for provisions for estimated cost of severance pay for terminated workers and a one time writedown of inventory and equipment
they said major japanese investors in the past two years are estimated to have held 50 to 80 pct of their foreign portfolios in us bonds but many have lightened their us bond inventory to as low as 40 pct
mcivor said that decisions to explore and drill in those areas would be depedent upon both the expectations of a higher price of oil as well as the legal regime affecting the companies
the us national association of wheat growers nawg urged the reagan administration offer the soviet union wheat under the export enhancement program eep in a letter to agriculture secretary richard lyng nawg stated its strong support for an eep offer to moscow
a company survey shows the gold ore contains up to 133 grams of gold per tonne he said
the hamburgische landesbank girozentrale canadian dollar bond issued earlier today due may 6 1990 at 8 1 4 pct and 101 3 8 has been increased to 75 mln dlrs said merrill lynch capital markets as lead manager
under the amended offer bombay will issue about 900000 shares currently 72 mln dlrs
no early redemption is permitted on the bond which will be paid back in full on april 15 1995
it said an unchanged dividend of two cts will be paid on the common and 18 cts on the class b stock
shipments during december 1986 amounted to 102870 tonnes against 108514 tonnes in the same month of 1985
north american biologicals inc nbio 4th qtr
conditions in some sectors of the euromarket remained difficult last quarter with floating rate notes suffering heavy price falls but a spokeswoman was unable to say whether morgans trading losses were restricted to the euromarket
seamen in santos brazils main port are in defiant mood
but high monetary stocks can be a warning sign and there should be no change in priorities
first valley corp fivco 3rd qtr net
exports are forecast to rise to 720000 tonnes against 695000 tonnes in 1986 the report added
cooper cbe asks ftc to end acquisition limits
the malaysian government said it raised the export duty on processed palm oil ppo to 7090 ringgit per tonne from 6406 in march effective today
the company said storage dimensions incorporates maxtors high capacity 5 1 4 inch winchester and optical disk drives into a family of data storage subsystems for ibm pcs xts ats and compatibles
this seasons total comprises 394 mln tonnes of wheat and 366 mln barley compared with 163 mln and 239 mln respectively a year ago
the textiles industry dominates mauritiuss export processing zone and the island has become a major exporter of woollen knitwear
a group led by new york investor michael steinhardt told the securities and exchange commission it bought a 66 pct stake in holiday corp common stock as an investment
members will then have to obtain a minimum 3500 dlrs for net long or net short positions in the may and july contracts including a 2500 original margin plus the additional 1000 dlr spot charge
packard hwp cuts personal computer prices
balance computer corp 3rd qtr jan 31 loss
champion parts rebuilders inc said echlin inc has bought a 20 pct stake in it by acquiring 600000 newly issued shares and warrants to buy another 300000 shares at 920 dlrs each for a total investment of 5400000 dlrs
alleghney said the suit filed in the us district court for the western district of pennsylvania was aimed at blocking the sale of alleghney to an affiliate of first boston inc
bear stearns and co inc signed a similar standstill agreement with bally for three years bally said
aegon expects moderate rise in 1987 profits
m 2 adds in short term bank deposits and m 3 adds in other short term deposits
holding company gemina spa said it had no comment on an italian press report today that it has acquired a 12 pct stake in nuovo banco ambrosiano spa italian daily la repubblica said that gemina paid 205 billion lire for the shareholding from several italian banks
but the rains proved to be a great aid to soybean crops as their harvesting will not begin until april or may
us house speaker jim wright said he would question president reagan tomorrow about his plan to protect kuwaiti oil tankers with us warships from attacks by iran in the gulf
final terms set on atari corp convertible eurobond
the banks said indosuez will be the book keeper for two non syndicated variable rate eight years and 20 day tranches of 320 mln francs each issued at par
the company said the board at an october 16 meeting decided to defer until a board meeting later this week a recommendation on the edelman offer and said the board expects to make a recommendation by october 23
the sale permits national to focus on its core businesses chemicals and propane marketing
reynolds said its proceeds will be used to refinance certain long term debt
usg usg debentures yield 877 pct
amc also said the award has not been confirmed by a court and faces additional legal challenges
shr profit nil vs loss three cts net profit 140022 vs loss 882869 revs 133 mln vs 8870035 avg shrs 450 mln vs 350 mln backlog 1683000 vs 978000 note current year net includes tax credit of 51000 dlrs
blackburn intends to run a tight ship in which dividends will not initially be paid and the resultant savings invested into exploration and production
caesars world says it considers restructuring and sale to other company
conrac cax rejects mark iv iv offer
the calls to be made effective june 30 and september 30 affected respectively the 7 1 4 pct bond of 1975 for 250 mln francs and the 6 1 2 pct bond of the same year for 300 mln
cyacq was formed by citicorp capital investors ltd and audio video affiliates inc ava to acquire cyclops
contl illinois cil sees impact from tax reform
swiss economy in excellent condition oecd says
the debentures have a 9 1 8 pct coupon and were priced at 9890 to yield 117 basis points over comparable treasury securities
the entire hallmark offering is non refundable for 10 years
in the current market people almost expect companies to beat expectations said one analyst adding that pretax profits of 135 to 140 billion stg had been forecast
santos bids for oil and gas company tmoc resources
the venezuela guayana corporation cvg which oversees the state steel iron aluminum and other industries will invest 75 billion bolivars in new projects during 1987 89 cvg president leopoldo sucre figarella announced
senator lugar calls for cargo preference repeal
piedmont has an outstanding 65 dlr cash per share offer from norfolk southern corp
the agency cited a 140 mln dlr lawsuit by the new york state insurance department against hall in connection with the insolvency of the union indemnity subsidiary which was liquidated by new york insurance in 1985
the three other lead managers are dncs parent company den norske creditbank scandinavian far east ltd and its parent skandinaviska enskilda banken
malaysias recovery from the worst recession in 20 years should receive a boost on friday when the government announces a reflationary budget for calendar 1988 after seven years of austerity economists said
a panel of four leading economists told a congressional hearing today that foreign economies will need to expand to avoid recession as the us trade deficit declines
caisse centrale desjardins du quebec is issuing a 10 billion yen step up eurobond maturing on march 25 1992 and priced at 101 3 4 pct joint bookrunner warburg securities said
burlington northern inc said its burlington northern railroad co unit reached an agreement in principle to settle a class action lawsuit filed against the company in may 1985 by holders of two series of the companys bonds
1986 and 1985 oper per share amounts are reported after paying 310 mln dlrs and 385 mln dlrs respectively for preferred stock dividends
this eliminated the widespread market caution against possible joint central bank intervention kidokoro said
japan is attempting to cut back semiconductor production to forstall the 300 mln dlrs in us tariffs on japanese electronic goods set to take effect april 17 industry analysts said
shr 41 cts vs 80 cts net 403 mln vs 789 mln nine mths shr 158 dlrs vs 240 dlrs net 1550 mln vs 2233 mln avg shrs 98353350 vs 92967487 assets 2748 billion vs 2760 billion loans 2275 billion vs 1900 billion deposits 2145 billion vs 2131 billion
shell caltex bp revise singapore petrol prices
us house panel approves trade bill
olson as saying that siemens attempt to stop at and t and philips could lead to a resurgence of protectionism in the us baur said he expected the french government to decide on the winning bid by the end of april
peru begins foreign exchange rationing
total holdings of us savings bonds reached 9476 billion dlrs the highest in the history of the program the treasury said
it is 83 pct owned by reichhold
liedtke did not say how large the unusual item would be
arab forex association elects new chairman
nonetheless the dollars sharp fall has not undermined cooperation
there are no pronounced pressures at the retail level said william sullivan of dean witter reynolds inc
it said exports over the period rose by 87 pct to 1238 billion dlrs and imports by 89 pct to 1464 billion for a trade deficit of 226 billion against a 206 billion deficit in the same 1986 period and 178 billion deficit previously
bank of france leaves intervention rate unchanged
rodman and renshaw capital group inc said its directors approved the repurchase of up to 200000 shares of the companys common stock on the open market from time to time
while foreigners bought only four billion marks worth of german bonds in february after 13 billion in january they sold a net 500 mln marks in shares and promissory notes of public authorities after sales worth 300 mln in january
bankers said the thai banking system is saddled with about 40 to 50 billion baht of surplus funds which have created problems for many banks in managing their money effectively
while we cannot yet be sure of the outcome we are doing what we can to ensure that the bill is not protectionist he said
americanture inc said it has purchased american adventure inc goaqc for cash the assumption of liabilities and the issuance of american adventure inc common and preferred stock to creditors shareholders and members
tomorrow next for which buy sell quotes started at 30 20 pct ended at 14 eight
s and p cited the companys proposed offering of two mln units of common stock and warrants which would raise 25 mln to 30 mln dlrs that would be used to retire bank debt
to date icn said it bought a total of about 12 mln shares of viratek including the shares purchased from kodak
the companys life insurance result fell to 3657 mln guilders aft interrupted
it said the government and private exporters shipped 41607 and 15045 tonnes respectively
it said assays from zone one averaged 0809 ounces of gold a ton
the company said the restatement does not indicate any change in its thinking on the benefits of the acquisition or future prospects in midwest distributings markets
gulf states has appealed a decision by louisiana state regulators rejecting its application for 100 mln dlrs in emergency rate relief
he also said he is not very optimistic about the ongoing negotiations to buy 50 pct of tricil ltd a toronto based chemical and solid waste services company with canadian and us operations from trimac ltd of calgary
the facility to be guaranteed by british petroleum co plc bpl is probably the largest credit facility ever arranged in europe bond analysts said
albertsons inc said its board has adopted a stockholder rights plan intended to protect them in the event of any proposed takeover of the company
lex vehicle is owned equally by lex services and lombard north central plc lex said the shares involved in the transaction were today being placed for sears plc with institutions at 400p
at completion of this transaction northwest federal would be a subsidiary of lsbs non consolidated wholly owned financial subsidiary
the 1986 results include republic airlines since nwa acquired it aug 12 1986
moodys will also study the adequacy of projected earnings and cash flow from western national in relation to the financing plan
qtly div 15 cts vs 15 cts prior qtr pay 6 may record 8 april
denied kirk knapps application to become a registered member of the firm
czarnikow also estimated ussr 1986 87 production at 875 mln tonnes raw value which when added to the 37 mln imports from cuba and set against its estimated domestic and export needs of 142 mln tonnes will leave a gap of 175 mln tonnes to be acquired from the world market
he said brazil had caught the attention of the world with its decision last month to stop paying interest on its loans from commercial banks but warned it not to sqaunder the time it gained by failing to come up with a new economic program
the agreement also calls for bally to pay trump another 62 mln dlrs for certain agreements claims and expenses related to his purchase of the bally common stock bally said
payment is due march 17
king world kwp has financing for offer
s and p said the action reflected beverlys aggressive plans to repurchase stock that would increase financial risk while earnings prospects become more clouded
it said products from the venture are expected to be introduced within the next year
american motors amo weighs takeover proposal
eastern utilities associates eua ups payout
as previously reported pending a ruling from the internal revenues service the trusts distribution may be reduced by 109 dlr per unit plus interest spread out over the life of the productive properties in which the trust has an interest
merchants national corp mchno 3rd qtr net
they the investors became more or less quiet after 10 oclock 0100 gmt he said
in addition to the revolving credit bp also is arranging a us commercial paper program for an as yet undetermined amount which will be supported by the revolver
the heaviest rains for seven months are believed to have saved more than one mln hectares of drought threatened crops in southeast china the official new china news agency said
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
biffex members to ballot on merger
the year ago first quarter earnings however have been restated from 101000 dlrs or four cts per share
manufacturing industrys production fell 1 1 2 pct in january february compared with november december
shr loss five cts net loss 753000 revs 8932000 avg shrs 160 mln year shr loss seven cts net loss 995000 revs 279 mln avg shrs 148 mln note company started operating in august 1985
he said the ruling liberal democratic party ldp is expected to come up with a final set of recommendations of ways to stimulate the japanese economy before prime minister yasuhiro nakasone leaves for washington next week
shr 54 cts vs 44 cts net 706111 vs 579576 revs 217 mln vs 232 mln nine mths shr 126 dlrs vs 44 cts net 1657634 vs 582001 revs 631 mln vs 686 mln note full name of company is frozen food express industries inc
in the meantime ultramars objectives were to improve profitability by selling or restructuring weak operations while strengthening core businesses and developing a sound operational and financial base
shr 25 cts vs 18 cts net 109131 vs 75793 revs 1811636 vs 1280618
danuta zielonka of wertheim schroder co inc said that recent slowing in the growth of the monetary aggregates is a another factor arguing against firmer fed policy
lorenzo chairman of texas air has added to his airline with the acquisitions of eastern airlines and people express airlines
barley cargoes were arranged from immingham to the red sea at 1725 dlrs and from foynes to jeddah at 1725 dlrs
under the old system introduced during world war two and due to be phased out by april 15 some 50 mln ration cards were issued enabling poor people to buy wheat cheaply
the zambian government has no immediate plans to follow last weeks increase in the producer price of maize with a hike in the retail price of maize meal an official of the ruling party said
pickens predicts the us rig count will soon drop below 600 and will not increase significantly until oil prices do
dealers cited some borrowing interest in two three and six month deposits but said activity focused on short dates and one month deposits as banks tried to lend surplus funds
one three and six month deposits were quoted unchanged at 6 5 8 3 8 7 1 8 6 7 8 and 7 3 8 1 8 pct respectively
levy predicts gnp will grow at a scant 15 pct rate in the first quarter of 1987 accelerate during the second quarter and show a brisk 45 pct annual rate in the third quarter
china has added 90000 tonnes of us wheat to its purchases for delivery in the 1987 88 season and cancelled 30000 tonnes of wheat purchases for delivery in the 1986 87 season the us agriculture department said
german june cost of living 02 pct above year ago may rise 02 pct official
he said government measures to deal with the problem dealt with trifles rather than the essentials
nynex nyn urges justice dept
rostenkowski reluctant to back tax hike
five more cranes from finland are due to arrive soon increasing the container terminals handling capacity to 120000 units per year from 30000 at present the officials said
currency analysts believe the paris agreement set secret short term target ranges for their currencies with a specific agreement to defend those bands with intervention
charles haughey leader of the irish party fianna fail said if he becomes prime minister following last months irish general election he will seek the advice of the ec commission on management of the countrys 24 billion punt foreign debt
het comite as a member of fefac the association of european animal feed manufacturers is also a party to actions protesting the whole levy in the luxembourg appeal court
the bil bid is higher than the 420 dlrs bil said it would offer when it first announced on monday it would make a full bid for progressive and it follows much public debate between bil and rainbow
the shareholders will engage salomon brothers inc for distribution of the shares in the united states and mcleod young weir ltd for distribution in canada
sci scis buys fortune fsys computer assets
it said there can be no assurance that any transaction will result from the talks
hazelhoff speaking at a press conference after the release of abns 1986 results said a sharp decrease in foreign earnings had been compensated by a strong domestic performance notably in the securities business
one of the assumptions of the government is that if you give them freedom the employers will invest and modernise but nine out of ten will say yes they like freedom and then wait to be told which way to go he said
trans lux tlx sets five pct stock dividend
increased funds were also allocated for provisions
mellon mel sees large first quarter loss
encor energy corp inc year loss
they said sunflower maize and sorghum production estimates had been reduced despite some later warm dry weather which has allowed a return to harvesting in some areas
as a result of the settlement a special committee of the board of directors of cts stopped soliciting offers to buy all or part of the company it said
the two elections will probably have a more decisive effect on the way business reacts he said
any further sharp decline of the dollar would hinder washingtons efforts to reduce its trade deficit stoltenberg told a news conference on tuesday
lloyd bentsen a fellow texas democrat was positive and useful
mobil france to take 10 pct stake in primagaz
whitehead said however the prefential treatment that comes with most favored nation status is out for the moment
rockefeller reminded bankers of the depth of concern over latin american debt at the toronto world bank international monetary fund meeting in 1982 and said an accord would be reached in the current circumstances just as it had been then
the issue is available in denominations of 5000 dlrs and will be listed in luxembourg
adams express co adx march 31 assets
we clearly wont have a boom in new home sales but i dont think this is the start of a collapse in single family housing said chimerine of wharton
irwin magnetic systems inc irwn 1st qtr net
proceeds will be used to repay 60 mln dlrs of debt
chemlawn corp echolab inc sign definitive merger agreement
klm which is also negotiating with british and commonwealth for a 15 pct stake in the latters regional airline air uk ltd says door to door delivery courier services are seeing substantially faster growth than traditional cargo activities
saul brandman a california business executive told the securities and exchange commission he has acquired 118714 shares of arden group inc or 57 pct of the total outstanding common stock
i hope it will persuade them were serious smart said of the white house trade sanctions
palm oil sellers were disappointed at the light purchase of rbd olein and early trading saw the market ease nearly 10 dlrs under malaysian refiner and dealer selling
credit suisse first boston ltd commerzbank ag hambros bank ltd and merrill lynch capital markets are co lead managers
he said air new zealand expects to release its results soon for the year to march 31 1987
aluminium companies were slow to adjust to the pace of change after 1973 the review said and now they have completed this transition they may be in danger of remaining preoccupied with the strategies of retrenchment and survival which have served them well in recent years
it said it is continuing to review its investment and has made no determination of its future course of action
for computer associates the merger with uccel caps a six year acquisition campaign that has vaulted the garden city ny based company to the top of the software industry
soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 supply mln lbs start stcks 947 947 632 632 production 12263 12103 11617 11617 imports nil nil 8 8 total 13210 13050 12257 12257 note 1985 86 production estimates based on october year crush of 1060 mln bushels
treasurys baker says he stands by paris pact to foster stable currencies
chartered bank net foreign currency assets rose 782 mln dlrs to minus 876 mln dlrs
rexcom systems corp said it agreed to buy all the assets of postech inc from comtech group international ltd a canadian computer service company for 70 pct of rexcoms voting shares
most of the cattle now being placed on us feedlots weigh less than normal and likely will remain on feed longer spreading out marketings and supporting cattle prices through the summer because of reduced beef supply
oil world said it was likely the soviet union would reduce soybean imports and step up significantly its imports of meal
supercomputers made by fairchild and other us manufacturers are widely used throughout the world but none have been sold to the japanese government or to japanese government run agencies and universities
west german 1986 oil meals cakes use up
cobriza produced the equivalent of around 40600 fine tonnes of copper last year
they noted that banks historically like to follow fed rate movements rather than lead them
virginia
he also testified a committee of directors had hired goldman sachs and co to consider alternatives to the hutton offer and also to consider a discussion of possible mergers with other companies including emery and federal express corp fdx
the steel and energy concern will earn about one dlr a share in 1987 about half of that coming from asset sales and from two dlrs to 250 dlrs in 1988 bradford said
moodys said it is also examining the potential use of the airlines borrowing capacity to finance the merger
another oecf official told japan is likely to approve the loan because it is technically and economically viable if approved the loan would carry a coupon rate of four pct a grace period of seven years matsuya said
he said usda had devoted an enormous amount of time to considering making wood products eligible for the guarantees and that congress was considering a measure to do so
but if average consumer prices are higher than 1986 the rate of growth for these fuels may be below last years 36 pct it said
leung said however that browning ferris has adequate cash reserves to cover the fine
the reality of the problem and the injury is caused worldwide he said
a spokeswoman for the office said the production index base 1980 rose to a provisional 1088 in february from a provisional 1027 in january slightly revised from the 1028 originally estimated
since then frn specialists noted that retail interest has been sparse or completely absent and the stagnant market for floating rate paper has become increasingly vulnerable to manipulation with nerves affecting all variety of borrowers
other export dependent industries such as cars and textiles have laid off part time employees and ceased hiring economists said
1986 net also excludes a gain of 664 mln dlrs or 450 dlrs a share for credit on debt restructuring
we call on greece to come and engage in a dialogue with us let us find a solution as two neighbours and allies should he said
shr 108 dlrs vs 88 cts net 409000000 vs 328000000 revs 1219 billion vs 1117 billion avg shrs 3782 mln vs 3684 mln nine mths shr 286 dlrs vs 217 dlrs net 109 billion vs 8083 mln revs 3439 billion vs 3131 billion avg shrs 3777 mln vs 3662 mln
rbd palm olein april 336 may 33750 june 337
faster results could be achieved by a policy of reducing both price and areas as employed in the united states the iwc says in a survey of support prices in the five main wheat exporters argentina australia canada the ec and the us in some countries for example australia and argentina which are highly dependent on wheat shipments for export income there may be problems in reducing production
pesch said he did not discuss a joint takeover proposal with the bass family
japanese securities houses have asked the finance ministry again to consider introducing auctions of 10 year government bonds securities sources said
once the special distortions end analysts said the funds rate probably will return to its recent trading level in the 6 1 8 pct area
in 1986 profits from continuing operations slumped to 1395 mln dlrs or 154 dlrs a share
yesterdays rebound showed the market was still very respectful of the paris accord and the threat of central bank intervention by the g 5 nations plus canada
non callable to maturity the issue is rated baa 2 by moodys and bbb plus by standard and poors
jacobs suchard increased its market share in west germany to 449 pct from 399 pct in 1985 largely as a result of acquisitions
the rate was up from 568 pct at the last auction of one year bills on march 12
nationwide cellular service inc ncel 4th qtr
bilzerian last week said he was considering raising his stake in the company seeking a board seat or control
cold air a threat to some us hard wheat areas
the partnership in its statement again urged management to work with it to facilitate a transaction
it gave no further details
totaling 533 mln dlrs this floating rate class contains a so called catchup provision that allows investors to recapture possible lost interest according to kidder peabody
for full year 1986 ended october 31 the bank posted an operating loss of 44 mln dlrs against year earlier profit of 75 mln dlrs
penney posted a 55 pct increase on a comparitive store basis and a 53 pct gain in overall sales
because of the easter holidays bankers have not yet got an official reaction from venezuela which is also paying 7 8 pct on its 202 billion dlr rescheduling
it rejected bids for breadmaking and feed wheat they said
stewart sandwiches inc said it has sold its coffee roasting plant to sara lee corps superior coffee and foods subsidiary for undisclosed terms
arbitragers said past comments from dominion however added credence to the speculation
eishiro saito head of top japanese business group keidanren spotted the dangers inherent in such contradictory views last november when he visited the european community
the chemical partnership will also give texas commerce an edge in developing new consumer products he said
its april inflation rate was a record 2096 pct and contributed to an accumulated rate of 8419 pct in the first four months of 1987
peru registered a 16 mln dlr trade deficit in 1986 its first trade shortfall in four years a central bank statement said
further she noted that the 27 dlrs tender offer price is 50 pct above the price of electrospaces shares before april 30 when it put itself up for sale
many times widening of the margin between the two would implicate we have to buy or sell large amounts of a third currency central bank vice director jan hendrik du marchie sarvaas said
lomak lomk strata strata in merger pact
iomega corp said it has laid off over a quarter of its professional and management staff and nearly half of its direct labor force as part of a restructuring and downsizing of its business
the strike caused cominco to declare force majeire which means the company may not be able to honor contracts for products from the smelter and mine
israel will tender overnight for 33000 long tons of us sorghum and or 22000 long tons of us corn for april shipment private export sources said
eastman kodak co said it has reached an agreement to acquire new stock representing a 16 pct interest in industrial biotechnology company genencor inc for undisclosed terms
since the paris agreement on february 22 the dollar had until yesterday traded in a 18150 18700 mark range and above 150 yen with traders reluctant to push the dollar down to test central banks resolve to defend currency stability
the surge in currency futures since friday on the heels of the reagan administrations proposed tariffs on japanese imports is likely to be curtailed in the coming week financial analysts said
dow chemical co dow regular dividend
south korea is studying a plan to buy more coal from the united states and to start importing alaskan crude oil to help reduce its huge trade surplus with the united states energy ministry officials said today
my feeling is the second one is a better report but theres legislation that requires us to delay it two days said robert ortner commerce undersecretary for economic affairs
brazilian soymeal pellets were offered between one dlr lower and one higher while argentines indicated up to two dlrs a tonne higher than yesterday
shr 32 cts vs nil net 12 mln vs 100000 avg shrs 3692000 vs 3148000 year shr 102 dlrs vs 54 cts net 37 mln vs 800000 avg shrs 3607000 vs 1461000 note net is after depreciation
during that period no zambian copper had been shipped through zimbabwe to the mozambican port of beira the only other available route which avoids south africa mapara said
chinese industrial growth rate up after weak 1986
under existing law congress must agree to oil and gas exploration and if it does not act the land will remain a wildlife refuge protected from commercial development
as previously reported rrt is a tax of 40 pct limited to highly prospective offshore areas based on profits after a certain rate of return has been achieved for individual projects
one luxembourg and three danish banks are tapping the euro danish crown market in a three tranche zero coupon eurobond deal of 600 mln danish crowns nominal for denmark senior vice president lars thuesen of privatbanken which is the lead manager told 
new jersey resources njr files to offer stock
the federal agency said year over year production was off 065 pct in december compared with a decline of 165 pct in november
intermedics inc itm 1st qtr net
firecom inc frcm 3rd qtr jan 31 loss
oper shr loss 39 cts vs profit 62 cts oper net loss 4628000 vs profit 7256000 revs 3381 mln vs 3279 mln year oper shr profit 112 dlrs vs profit 188 dlrs oper net profit 132 mln vs 222 mln revs 132 billion vs 129 billion note net excludes gains from discontinued leasing operations of 376 mln dlrs vs 403 mln dlrs in year and 326 mln dlrs vs 343 mln dlrs in quarter
bank of france sees continued industrial pickup
both facilities are at expected to be in full operation in the early 1990s with annual production of one to two mln lbs of uranium concentrates the company said
ambassador said its unit would purchase 100 pct of heritages stock for an initial payment of approximately 500000 dlrs and subsequent payments in cash over a five year period equal to 50 pct of the net after tax profit of heritage
australia tug crews bar foreign container ships
around 35 mln acres said to be idled by 0 92
winter wheat crops in the western soviet union poland and eastern czechoslovakia through northern romania may suffer some winterkill over the next two nights private forecaster accu weather inc said
the international monetary fund imf has assured kenyan president daniel arap moi it will continue to give his country maximum support the official kenya news agency kna said
jamaica will draw down 409 mln special drawing rights sdrs from the international monetary fund following imf approval yesterday of a new credit program for the island the government announced
he said the revenue generated by charging a regulatory amount would be used to finance the common agricultural policys oils and fats regime
alza corp said it plans to make an offering in europe of 75 mln dlrs principal amount of 15 year convertible subordinated debentures
if the farm credit system were the guarantor of the pools of farm mortgage loans it would benefit from the fees charged for providing this service the life insurers study said
lomak petroleum inc and strata corp based in columbus ohio jointly said they entered into a merger agreement for strata to become a wholly owned subsidiary of lomak
the basic trend is towards stability a firs spokesman said
where the heck can you buy a world class chemical operation these days said henderson
westin hotels and resorts a subsidiary of allegis corp said it will hold a press conference on october 21 near san francisco to discuss the pending sale of the 61 hotel chain by allegis
deluxe check printers inc dlx 3rd qtr net
zero corp zro 2nd quarter net
but if washington seizes the initiative with bolder steps such as mining irans harbors blockading its shipping or destroying key bases it could find itself in a major war
pump prices of the lower lead petrol grades are expected to be announced soon by the oil companies which have said wholesale prices are between 13 cents litre to 32 cents higher than previous grades
hes heymans got the bucks
treasurys baker says us backs stability
and preliminary us data show that the growth trend is continuing
the restructuring must be approved by creditors common and preferred holdersand present and former employees
but it seemed clear from bakers remarks he was at one point ready to concede an increased voting power such as 625 pct or 60 pct as the majority for approving loans that would amount to a compromise between the original us and latin american positions
the company said the change will not impact on its net income for th year
atlantic city electric co said it will redeem all of its outstanding 5 7 8 pct cumulative convertible preferred stock
sumitas statement was issued after the dollar slipped below 150 yen to hit a record low of 14840
semicon tools inc said it has signed a letter of intent to acquire a majority interest in privately held east coast sales a distributor and fabricator of technical ceramic products and disposable clean room materials and supplies
strober organization inc strb 4th qtr net
according to terms of the proposed transaction each share of datron common stock excluding those shares owned by the four officers will be converted into six dlrs a share it said
in a filing with the securities and exchange commission templeton said he bought the shares for investment purposes only and has no intention of seeking control of the company
he also said the proposed tax contravened not only article three of the general agreement on tariffs and trade gatt the lome convention and the united nations food and agriculture organization fao guidelines but also the ecs own treaty
the january fall brought home sales to a level 16 pct below january 1986 when they were a seasonally adjusted 728000 units
1985 revs includes 700000 finders fee and 75000 gain from sale of asset
the securities and exchange commission reminded securities dealers that its mark up disclosure requirements also applies to transactions on zero coupon securities
the bank also announced the rates applicable to temporary lending facilities rolled over today
american stores asc may be downgraded by s p
societe generale which will itself be privatised later this year will retain its 5258 pct majority holding in the bank chairman marc vienot said
miyazawa said the tokyo stock market should not be gravely affected by the downturns of markets in new york and london because there is a clear sign of an economic recovery in japan and stability of exchange rates
hillenbrand industries inc hb 1st qtr feb 28
the recent fall in world sugar prices due to increased producer pricing sales and evidence of export availability has encouraged renewed buying interest from china and the soviet union london trade house edand f
quantech said its remaining directors are henry ginsberg and david siegel
cityfed financial corp said its city federal savings bank has a preliminary agreement to sell 14 consumer lending offices to goldome fsb for undisclosed terms
the increase in the banks gross operating profits was mostly due to a rise in french franc deposits and personal loans as well as the development of its financial activities societe generale said
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 572 mln dlrs to 64297 billion in the week ended march 11 the federal reserve bank of new york said
1986 3rd qtr nine months includes tax loss carryforward gains of 260000 dlrs and 14 mln dlrs respectively
we fear that up to 300 people died in napo though there is no way of now knowing the exact figure because many people have disappeared he said
alusuisse had originally reported a 692 mln francs loss for 1985
there was no immediate assessment of the value of current us shipments but officials said the pact would lift quotas to the point that americans would be able to ship nearly all the pollock and herring ordered by japanese firms
dealers saw the dollar staying at current levels but possibly rising above 183 marks on any supporting remarks emerging from the meetings
american express would not comment on the rumors or its stock activity
and after a steady retreat mortgage rates seem to be near bottom
there were no shipments of us grain or soybeans to the soviet union in the week ended march 19 according to the us agriculture departments latest export sales report
earlier ual announced that it completed the purchase of hilton international co for 8357 mln dlrs in cash and 25 mln shares of ual inc common stock
all we have seen today is some squaring up of positions she added
we do not relate the texas gulf structure with the louisiana gulf structure at all
net proceeds from the sale of notes will be used for general corporate purposes and will replace existing outstanding debt the company said
swire seen reporting 20 pct rise in 1986 profit
cayacq an investor group led by audio video affiliates inc and citicorp raised the value of its offer from 80 dlrs per cyclops share on friday
he told the upper house budget committee in parliament that japan intervened in the market when the dollar went below 150 yen as it considered the dollars fall below that level counter to the spirit of the paris accord
details of rates on transactions under 30 mln yen have yet to be worked out an exchange spokesman said
qtr ends jan 31 oper shr loss 24 cts vs loss 19 cts oper loss 1096332 vs loss 794711 revs 803085 vs 442420 six mths oper shr loss 53 cts vs loss 43 cts oper loss 2375844 vs loss 1741437 revs 1471257 vs 768683 note prior year excludes losses from discontinued operations of 13 cts per share in the quarter and 17 cts per share in the year
kloeckner attributed the profit decline to the fall in prices as well as the lower value of the dollar
syria seeking white sugar on april 8 trade
the number of reported cases has doubled over the past 20 years he said to 40000 cases annually
the foreign exchange rate on the seven year bond was set at 44450 markka to the dollar
frn traders noted japanese investors initially enthusiastic floating rate debt buyers had lost confidence in the market and speculated that a crisis meeting such as the one called upon the collapse of the perpetuals could be imminent
he urged congress to reject provisions that would mandate us retaliation against foreign unfair trade practices
he said he had been in almost daily telephone contact with president corazon aquino particularly when the banks began to take a very tough stance on pricing
moodys pointed out that zeniths total debt increased sharply over the past year and is being serviced by weak cash flow
bakers work as head of reagans economic policy council spearheading trade policy and his skills in negotiating with the democrat controlled congress will go on as before
explaining its request for the amendment siemens informed telecom it had recently become aware of information causing concern with respect to certain accounting and other matters
a company spokesman said tofutti will be reporting earnings for the last five months of calendar 1986 by the end of march and will then report calendar first quarter results
get a green card if you have to but dont come home without a deal we can all be proud of he said
it also declared a regular quarterly dividend of 25 cts per share on its common payable may one to shareholders of record april 10
the state of the crop continued to be good in general until last week but intense heavy rains since could have caused damage in areas where rainfall was higher than 100 mm
commerce officials declined to say if any canadian companies had been evading the charge but said following the talks they were convinced all exporters were complying with the agreement
among the bank issues never rated publicly are long term debt securities of lloyds bank plc allied irish banks bank of ireland and bank of scotland
both rainbows and progressives boards have approved the merger proposal
paperboard now has 6057495 shares outstanding
under the new eight year repayment plan private sector debtors may obtain dollars at the preferential 750 bolivar rate by paying a premium of of 3 bolivars on principal and up to 150 bolivars on interest
he said the charge results from pre operating expenses of its recently opened atlantic city nj showboat hotel casino and bowling center and will cause a loss for the third quarter and probably for all of fiscal 1987 as well
asked what factors might destabilize the markets the official cited a lessening of market fear about intervention a completely unexpected change in the economy of japan the us or west germany or resumption of comments by government officials seeking to talk the dollar up or down
although about two thirds of britains trade is conducted with european countries sterling has traditionally shadowed the dollar rather than the mark analysts noted
volcker had the status of a financial demigod and you cant attain that status overnight he said
liquidity among private households and especially the corporate sector has increased substantially he said
shell canada and norcen energy resources ltd forecast improved 1987 earnings in their annual reports issued this week assuming oil prices remain at or above 1986 levels
the company cited its improved earnings outlook and continued strong cash flow as reasons for raising the dividend
the launch of the program is still subject to final approval of the french authorities
he said baker had indicated receptivity to latin americas position during talks yesterday with the so called a countries brazil argentina and mexico who stand to suffer a net deficit of iadb funding unless the bank votes a substantial capital increase
chronar corp said it received a total of 20 mln dlrs through the completion of a private placement of its stock long term debt and associated warrants with the sheet metal workers national pension fund and an affiliate of harbert corp it also said the fund and harbert solar inc the affiliate now own about 16 pct of chronars common
several opec members who are price hawks including iran algeria and libya will seek a higher official price and a reduction in output
pension insurance group pgai 4th qtr
turnover increases with the exceptions of the sectors fine chemicals and informations systems had only been achieved in those areas widened last year through acquisition in 1985
the government is depending on increased production of export commodities such as coffee tea rubber plywood and palm oil to offset revenue losses brought on by falling crude oil prices
delegates said both sides still appeared divided on the key issue of the price adjustment mechanism
he said though it now appeared likely commission proposals for a tax on vegetable and marine oils and fats would be defeated he feared the commission would revive the idea
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
they said they face problems because of the freeze requirement that any payment due to be made by a brazilian bank under the trade facility must be deposited instead with the central bank
the brand will constitute good delivery from april 1 the lme said
american cyanamid co said it bought the 50 pct interest of cyanamid fothergill ltd held by fothergill and harvey plc making the unit a wholly owned subsidiary
subscriptions close march 18 and payment date is april 2
it was the scale of speculative transactions that determined market trends
there are conditions which may indicate that the company will be unable to continue as a going concern auditors deloitte haskins and sells said in hawkeyes annual report to shareholders
convergent reported a first quarter 1986 profit of 2100000 dlrs or five cts per share
growth in jobs continued in march but was slower than in recent months with the gains concentrated in service industries
ge ge profit outlook aided by engine order
the consideration for mortons fixed assets stocks debtors and goodwill is payable on completion of the sale
the deal also requires bally to buy trumps remaining shares for 33 dlrs a share if the stock price does not reach that level by february 21 1988
short term yen interest rates seen falling soon
issue of contingent obligations such as performance letters of credit letters of guarantee or the receipt of quotations for interest rate swaps interest rate caps and collars from a panel of selected banks
since then negotiatiors have shuttled between tehran and paris for talks which france hopes will help secure freedom for hostages held by pro iranian groups in lebanon
the purchase consisted of a total of 340000 tonnes of hard red winter wheat for various may aug shipments with 210000 tonnes of soft red winter for aug sept the exporters said
1987 qtr and nine mths includes loss 4850000 dlrs or 16 cts per share and loss 146 mln dlrs or 58 cts per share respectively from payment of preferred dividends
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
he said the bundesbank told him it was observing the situation to see if it should intervene in consultation with other central banks
denominations are 1000 and 10000 dlrs
chilean consumer prices rise 17 pct in february
coupon on mitsubishi warrant bond cut
the company said backlog stood at 7520 billion dlrs down from 7912 billion dlrs a year earlier
hal daub r nebr said the administration should push hard for greater beef imports by japan and south korea
he said negotiations with the steering committee for the countrys creditor banks in new york would not end next week
treasury said it would allow imports of the south african ore and oxide until july 1 for processing and re export provided that the imported ore or oxide is accompanies by a license for importation issued by the nuclear regulatory commission the treasury brief also proposed allowing us origin goods to be imported temporarily from south african state controlled organizations for repair or servicing in the united states
he said the allocations were in line with indonesias production ceiling under its current opec quota so they might be increased if opec ratifies a production rise next week
they concluded that present and prospective progress in implementing the policy undertakings at the louvre and in this statement provided a basis for continuing close cooperation to foster the stability of exchange rates
improvements in the us trade balance he said will come about largely from a swing in manufactures trade and present serious adjustment problems for us trading partners western europe where manufactures output and employment have been weak promises to be especially hard hit by the improvement in the us trade balance sprinkel said
the 1987 target is 617 million
the banking committees bill directs the administration to to start negotiations to reach a competitive exchange rate for the us dollar runs the risk of build up potentially destabilizing market expectations volcker said
but ec executive commission sources said industry commissioner karl heinz narjes told ministers today that 30 mln tonnes of annual capacity was excess to requirements and should be closed by the end of 1990
current qtr includes loss 899000 for accounting change
in 1985 group net profit fell to 141 mln marks from 226 mln in 1984 and the dividend lost one mark to nine marks
businessland busl completes offering
philippine inflation predicted to rise
american express officials would not comment beyond a statement made this morning
although forbidding crude oil shipments to south africa on norwegian owned tankers the boycott makes a crucial exception for ships whose final destination is decided while at sea
it would allow the government to issue 1000 5000 and 10000 yen coins without special legislation although higher valued coins would still need a special law the official said
bond corp holdings ltd bonas said it has completed the 105 billion dlr purchase of the electronic media interests of unlisted consolidated press holdings ltd the new company bond media ltd now holds the television broadcasting and associated businesses previously held by kerry packers consolidated bond corp said in a statement
shr 24 cts vs 24 cts prior qtr pay may 15 record april 24
farmers group inc fgrp 4th qtr net
it said shareholders of triangle microwave controlling about 30 pct of the companys stock have agreed to vote in favor of the deal and to give kdi an option to buy their shares under certain components
dwindling global crude oil reserves and the lack of any major new discoveries in recent years will send the world into an energy crisis by 1990 the former atlantic richfield co chairman robert o
securities lawyers and industry officials acquainted with ruder say the new chairman designate is unlikely to significantly alter the commissions current priorities
the company said the loss was attributable to costs associated with its acquisition costs and operating losses of nine beckett aviation fixed base operations purchased in august 1985 and discontinued weather service and flight simulator segments
net dividend 165 francs vs 150
total m1 rose 12 pct to 6284 billion dlrs in january after a 50 pct rise the previous month
digital equipment corp said it will redeem on may 14 all 75 mln dlrs of its outstanding 9 3 8 pct sinking fund debentures of 2000
jardine matheson holdings ltd jardhkg year 1986
while one scenario mentioned in the tender offer document did note that the ef hutton group subsidiary may not have to keep cash in the transaction the sources said there is some risk to the firm
the exchange rate has been fixed at 124 australian dlrs to the mark
nevertheless the court order could cause significant personnel problems including the possible delay of wage increases delta had planned to give the western personnel on april 1 ronald allen deltas president said
bank of japan intervenes soon after tokyo opening
there will be no layoffs associated with the refinery maintenance she added
final terms will be fixed before april 21
upon redemption holders will be repaid at a rate of 8391 yen per australian dollar
however the committee at its sunday policy making meeting said it was basically in accord with projections by jerry jordan who is a member of the somc and economist at first interestate bancorp
the adjustment process in the us trade balance is definitely underway he said noting that this was not so noticeable in absolute figures
canada oil industry set for recovery analysts
power corp of canada said it received subscriptions for 252223 shares of its recent issue of participating preferred shares for total proceeds of 43 mln dlrs
among the main factors affecting liquidity bills maturing in official hands and treasury bill take up will drain some 107 billion stg while exchequer transactions will take out around 335 mln stg and bankers balances below target five mln stg
asked about the american soybean associations request for some form of income support amstutz said the competitive problem is the most severe he said usda is still studying the situation and no resolution has yet been found
it said the downward revisions in both proved reserves and estimated future net revenues resulted from decreased prices for oil and gas
shr profit six cts vs loss one ct net profit 80939 vs loss 12808 rev 70 mln vs 63 mln six months shr profit eight cts vs loss one ct net profit 101345 vs loss 10460 rev 132 mln vs 125 mln
cineplex odeon corp year oper shr basic 104 dlrs vs 77 cts
loophole for tankers in norways s
chemlawn claimed such purchases possibly violated the officers fiduciary duties and the securities and exchange commissions insider trading rules
the excess allocation compensates for public funds leaving the system which the bundesbank added last week via government owned banks
there have been certain advances on cutting production costs reducing fiscal costs and awarding drought aid but there are still areas where more could be done such as on farmers indebtedness he said
for fixed rate loans it was 936 pct 14 basis points below a month earlier the agency said
continental bank canada sets distribution
but is there a risk yes the mood out there is pretty nasty one new york banker commented
the consumer proposal to base quotas on a six year moving average of exportable production surpluses would lead to overproduction as countries boosted output to win higher quotas he said
but he said there was no cumulative downwards trend in view that would make quick remedial action necessary
class a qtly div 2 1 2 cts vs 2 1 2 cts prior class b qtly div 1 1 2 cts vs 1 1 2 cts prior pay may 8 record april 24
the rating agency cited consecos proposal to acquire western national life insurance co from beneficial corp bnl moodys said its review would focus on the financing of the deal which will increase consecos size from 650 mln dlrs in assets to about 27 billion dlrs
the company said it omitted the common dividend to cover both losses from a commercial ship conversion contract and increased reserves for previously announced discontinued shipyard operations
bank of bc revises share payout estimate
diagnostic retrieval systems inc said it has made an offer to acquire through a wholly owned unit all outstanding shares of rospatch corps common stock for 22 dlrs a share cash or about 53 mln dlrs
bank of spain suspends assistance drains funds
morgan guaranty the trustee under the indenture said metromedias liquidation constituted an event of default
as a member of the general agreement on tariffs and trade gatt india cannot officially support bartering
we consider nickel prices as bad at the moment although they have been rising slightly since january refinery sales manager pekka purra said
synthetech nzym ends southwest photo talks
macmillan bloedel ltd said shareholders approved the companys previously reported proposed three for one stock split
the median trade expectations for tuesdays us consumer price index and durable goods reports are up 04 pct and down 15 pct respectively
the country may have oversold and be unable to honor export commitments and this plus higher domestic demand caused by consumer price subsidies on ethanol and refined sugar will give it little room to stretch exports they said
year to december 31 1986
shell eastern pte ltd will revise pump prices of petrol from 2300 hours local while caltex asia ltd and bp singapore pte ltd will revise theirs at midnight tonight company officials said
the company said that 1986 was characterized by an unstable fertlizer market due to the weak dollar and the decline of international prices for products sold in europe and the us where agrimont operates through its conserv division
coastal corp said it expected earnings for 1987 to be significantly above profits of 716 mln dlrs last year
the group said it bought the shares for investment and intends to continue to buy texstyrene stock in the future
banque de financement immobilier sovac bfim sovac launched an offer to repurchase its 1430 pct 1980 bond issue at a price of 2180 francs per bond a paris bourse statement said
leutwiler wants firmer mark against sfr
at current market prices domes stake in encor would be valued at about 308 mln dlrs while its 209 mln dome mines shares would be worth about 319 mln dlrs
exco international plc a subsidiary of british and commonwealth shipping co plc bcoml said it had agreed in principle to buy an 80 pct stake in rmj holdings corp for about 79 mln dlrs
the fed also revised the december industrial production figure to a gain of 05 pct from 03 pct originally reported
but the weight of foreign currency and gold reserves now available to the authorities to support the pound should curb any market tendency to panic if uk opinion polls show the ruling conservative partys lead slipping they added
william verity as secretary of the commerce department
year on year the input price index was down 07 pct in march after a 28 pct drop in february
mead mea sells debentures at nine pct
maytag chairman and chief executive officer daniel krumm said the company plans a significant investment at its admiral refrigerator plant in galesburg ill as well as continued spending for product improvement and increased efficiency at other maytag facilities
the accord reached by opec ministers in vienna saturday set an output ceiling of 166 mln bpd for the groups 13 members from july to december raising iraqs share to 154 mln bpd and irans to 2369 mln
last week the ec awarded licences for 59000 tonnes at a rebate of 45678 ecus
todays announcement came before a departure later today of a 15 member taiwan delegation for washington for a series of trade talks with us officials
while fourth quarter economic growth was weak corporate profits jumped a healthy 61 pct during the period the government said
the hoare govett bid is valued at about 2104 mln us dlrs
gasoline supplies would also be limited
yeutter renewed the threat of a white house veto
the entire package also is being held up because of the need to reach an agreement to satisfy arrears due on short term insured and uninsured debts
the soviet union has agreed to supply iran with refined oil products in exchange for 100000 barrels per day of crude irans national news agency irna said
under an offer system the buffer stock manager would be free to choose cocoas of varying prices they said
as significant shareholders with mutual interests with the company we would like to actively participate in this process claremonts intentions and the letter were made public in a filing with the federal securities and exchange commission
cantrex unit to merge with ontario group
but the kingdoms still sluggish economy and legal problems hampering traditional lending operations mean earnings will remain vulnerable
norbert tanghe head of division of the commissions directorate general for agriculture told the 8th antwerp oils and fats contact days the commission firmly believes that the sacrifices which would be undergone by community producers in the oils and fats sector would justify asking consumers to make an appropriate contribution to solving the serious problem within that sector by paying a levy the proposed tax is necessary because the level of budgetary costs resulting from olive oil and oilseeds production has become unacceptable tanghe said
elders ixl ltd elxas said the canadian government approved its bid for carling okeefe ltd elders earlier announced it was buying 109 mln shares or 501 pct of carling from the canadian subsidiary of rothmans international plc rotl for 18 canadian dlrs each
adm grain elevator explodes in burlington iowa
yugoslav prime minister branko mikulic unveiling a new draft economic program said yugoslavia would cut repayments on its almost 20 billion lr hard currency debt to bring them in line with its hard currency earning capacity
ionics inc ion 4th qtr net
fendt said that imports were running at levels well above the traditional average for brazil
the officials are meeting to finalise the agenda for the groups regional ministerial conference here saturday
shr loss 173 cts vs 215 cts net loss 145 mln vs loss 180 mln revs 273 mln vs 237 mln year shr loss 58 cts vs loss 101 dlrs net loss 483 mln vs loss 842 mln revs 1117 mln vs 1419 mln
jordan sudan sign 100 mln dlr barter trade pact
bancroft convertible fund inc said it filed a lawsuit in federal court in newark nj seeking to block a hostile 30 dlr a share takeover offer by zico investment holdings inc
finance minister edouard balladur said yesterday that french growth would be just two pct this year the same as last year and compared with the governments original 28 pct target
crivits said the company will not produce a gain in the fourth quarter or the full year and said there will be a write off in the fourth quarter for the debenture exchange offer
the company said it will continue to operate 12 warehouses in illinois indiana michigan ohio and pennsylvania
the bank said a two billion dlr increase in total assets to 987 billion dlrs was due mainly to continued growth in consumer lending particularly residential mortgages
the underwriters also said the paine webber group will use the offerings proceeds to redeem about 60 mln dlrs of debentures due 2008 and for general corporate purposes
azpurua told reporters after a cabinet meeting the new budget projects ordinary income of 149925 billion bolivars and extraordinary income of 34186 billion
a swedish finance ministry committee forecast that british petroleum plc bpl may have to close its refinery in gothenburg because of an anticipated worsening of the swedish petroleum industrys competitiveness
it said it may spend as much as three mln us dlrs excluding capital costs to bring the mine into production
thailands trade deficit widened to 45 billion baht in the first quarter of 1987 from 21 billion a year ago the business economics department said
the group offered 1150 dlrs and one dlr of 10 pct preferred stock per calny share
delegates said the proposal was only a starting point for negotiations on buffer stock rules and subject to change
this brings to 157 the number of goods on which import taxes have been cut this year a ministry official said
however the rate is above the 18 pct the lowest ruling rate set by the other major the australia and new zealand banking group ltd anzas on friday and effective today
group turnover should rise about seven pct from the 157 mln reported for this year while group investments should total around 18 billion francs somewhat above the 13 billion annual average of the past three years he added
in the annual report chairman robert reuss told shareholders telephone profits will continued to be limited by ceilings imposed by regulators as well as deregulation and structural changes within the industry that have slowed growth in the investment base for setting rates
late yesterday hughes said it had terminated the merger agreement because baker would not agree to an alternative divestiture plan devised by hughes
some said there is also a chance gasoline stocks will be unchanged
the plan calls for boosting exports by five to six pct in real terms this year after a 74 pct decline last year
japanese crushers bought 8000 tonnes of canadian rapeseed for shipment from the last half of july to september trade sources said
the launch spread is 53 basis points over equivalent five year treasuries
the ldp plan will form the basis for the last of several packages to stimulate japanese domestic demand and will be unveiled by the government in late may
float ranged from about 250 mln dlrs on thursday to between one and 125 billion dlrs on monday and tuesday
presently to qualify for the refund the sugar must be processed within three years after import and exported within five years
bp cuts north sea propane price butane unchanged
rubbermaid rbd completes acquisitions
the anzs new rate will be the lowest prime set by the four major trading banks and matches the rate set by one of the smaller foreign banks in january and left unchanged during the rise in primes over the last three months
report says soviet economic plans too optimistic
us house speaker wright concerned of interest rate rise under greenspan
the company said the deal is expected to be closed in mid august
however analysts noted that the turnabout in market sentiment still looks highly vulnerable to political news
reimpell said the original investment in the project will be approximately 8 billion bolivars
east rand mines expect higher gold production
youd certainly be more inclined to ease than you would in the past there was certainly nothing in the feds latest balance sheet however to suggest a change of policy is already under way economists said
i would say that what has happened to the yen in the past several weeks was not outside the range we agreed to in the discussions in paris miyazawa said yesterday
period end jan 31 shr loss 17 cts vs loss 26 cts net loss 765808 vs loss 1216501 revs 158 mln vs 187 mln six mths shr nil vs profit 54 cts net loss 125 mln vs profit 2538030 revs 325 mln vs 426 mln avg shrs 4310068 vs 4712315 note prior yr results restated to reflect change in value of aircraft resulting in increase of 232000 or five cts shr for six mths
over the weekend baker had criticised west german economic policies saying that rises in domestic interest rates here were not in the spirit of last februarys louvre pact to stabilise currencies
prior to 1986 sigma conservatively reported only proven reserves that could be mined without future development costs
new crop corn prices at the chicago board of trade firmed earlier this week on ideas of a large sign up in the program despite the fact that acres enrolled are generally poor yielding and not likely to make a substantial difference to final production figures
under moodys review for possible downgrade are usair groups baa 1 senior debt and baa 2 subordinated debentures along with the usair units a 3 senior debt and baa 1 subordinated debentures
eurosterling bonds continued to rise steadily bolstered by the extremely ebullient tone of the uk government bond market on a combination of positive uk economic fundamentals
the bank bought in band one 60 mln stg bank bills at 9 7 8 pct and in band two 200 mln stg bank bills and one mln stg treasury bills at 9 13 16 pct
dole addressing the national corn growers association board said the proposal was under consideration by a rural task force of republican members of congress and governors
interest will be paid for the first time on february 2 1988 and on the same date of each subsequent year
french industrial production fell a seasonally adjusted 198 pct in january after revised unchanged output in december the national statistics institute insee said
cash flows which include half yearly provisional and terminal tax payments are expected to more than offset cash injections
weve told analysts that iaes decision not to launch a full development program of the iae superfan for certification in 1991 will have no short term impact on earnings a united technologies spokesman told 
us bank discount borrowings average 302 mln dlrs a day in march 25 week fed says
the facility will provide the group with working capital to meet its planned expansion in the uk over the next three years
shr five cts vs five cts prior qtr pay april 17 record april 3
callao crotone 5000 mt minerals 4000 2000 spot
the government announced last week that japan had a 59 billion dlr trade surplus with britain in 1986
norcros said any such benefits could be achieved through normal trading and did not warrant a closer formal association
pace membership warehouse inc said it made a series of recent purchases of its 13 pct subordinated notes totaling about 136 mln dlrs
it said it would also continue gencorps policy of trying to sell its new york area television station wor to mca inc mca for 387 mln dlrs and its los angeles station khj to walt disney co dis for 217 mln dlrs
imperial oil said the attention to earnings results from the desire to pursue longer term growth opportunities should the investment climate improve and the belief that low or volatile crude oil prices could continue during the next several years
after objections from minority shareholders about the price royal dutch shell raised its bid and began a 58 dlrs a share tender offer in april 1984
it was also given permission last week to open an office in tokyo where total market turnover had lifted rapidly to about five billion dlrs a day
canadian narrowly defined money supply m 1 fell 116 billion dlrs to 3294 billion dlrs in week ended march 11 bank of canada said
bay state gas bgc preferred upgraded by s p
it said lawrence powers remains as chairman
great american first savings gta offers notes
fed adds reserves via customer repurchases
elders said leaving the carling preferred shares outstanding will not affect ongoing plans of the company
galaxy oil co said its common stock and nine pct convertible subordinated debentures due 1994 are being delisted from the american stock exchange because the company no longer meets listing criteria
naturalite had sales of about 20 mln dlrs in 1986
the loans were purchased by prudential baches energy growth fund a limited partnership created last month with 90 mln dlrs in funding to invest in oil and gas properties
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
french sugar producer beghin say is not currently planning to withdraw the sugar it has placed into intervention despite the exceptionally high rebate awarded at this weeks european community ec sugar tender beghin say president jean marc vernes told 
it said unadjusted m 3 increased to an estimated 3007 billion nz dlrs from a revised 2830 billion in november and 2553 billion in december 1985
balances in tax and loan note accounts fell to 12453 billion drls from 14350 billion dlrs on the same respective days
amrep corp axr 3rd qtr jan 31 net
the problems facing us china trade and gatt membership are similar a pricing system which many foreign businessmen regard as arbitrary and not related to actual costs especially for exports and a de facto dual currency system
the plan which predicted the economy would grow 45 pct this year and inflation would drop to 10 pct a month by december from 20 pct at present would be officially announced within three or four weeks he told a news conference
regarding sterlings relationship with oil leigh pemberton said that the pound could be seen being undervalued overall
correction rome italian january production in story headlined italian january industrial output falls 34 pct in second paragraph please read the fall follows changing rise to fall
philippine debt talks proceed with narrower focus
little movement on hamburg fishmeal market
another eni subsidiary agip carbone will sign a letter of intent in caracas tomorrow to enter a partnership with pdvsa to mine the coal deposits at guasare in western zulia state he said
trade had been liberalised and a freer exchange rate policy applied but he acknowledged there was more to be done in a country where the state still dominates industry and the currency is only partially convertible
the waterside workers federation which struck for most of last week and held more than one mln tonnes of shipping in ports meets on monday and tuesday in conciliation with the waterfront employers association
shr 55 cts vs 93 cts net 16 mln vs 26 mln revs 53 mln vs 12 mln year shr 73 cts vs 136 dlrs net 20 mln vs 30 mln revs 91 mln vs 110 mln note1985 net includes 27 mln dlrs gain on disposal of unit
i believe their new cars will be successful but that will only curtail losses in market share which will fall to around 35 pct by 1990 lucky said
even interest rates are not in the centre of the bundesbanks considerations but reflect competition and other market conditions mueller said
we must alleviate the current account substantially to sustain the creditworthiness that we have managed to secure over the last five years he added
toyota motor credit corp is issuing a 23 billion yen eurobond due april 10 1992 paying 4 1 2 pct and priced at 101 1 2 pct lead manager nomura international ltd said
united stationers inc ustr sets dividend
brazil the third worlds largest debtor last month declared a moratorium on interest repayments
market speculation is that the other two potential bidders are not canadian companies and duponts dd conoco and atlantic richfield co arc are mentioned as possibilities wilf gobert of peters and co ltd said
nz trading bank deposit growth eases slightly
asked by reporters after a speech before the national fitness foundation banquet what if any currency intervention levels had been set in paris baker replied we never talk about intervention baker also declined to comment on his views about the foreign exchange markets reaction to the accord
it plans on filing a rate application with the public utilities commission of ohio to recover the perry costs later this year
most paris dealers expressed disappointment at the communique saying nothing has changed to reverse the dollars downward trend
myers industries inc mye 3rd qtr net
singapores economy grew 19 pct last year after shrinking 18 pct in 1985
the uaw wont be able to hold them up for ransom as they have amc because during a down year chrysler will have underutilized facilities to transfer production he said
westpac perpetual frn no instant cure dealers say
the spokesman said resorts is not familiar with ksz but that it believes the company is controlled by marvin davis the denver oilman
standard and poors corp said it may downgrade chi chis incs 50 mln dlrs of b plus convertible subordinated debentures due 2009
it said the operations will be sold to meadowdale foods inc a corporation formed by members of its existing management including chairman david page and president lon makanoff
vieille montagne says 1986 conditions unfavourable
midlantic midlo to acquire county bancorp
the bank board said that the federal savings and loan insurance corp will make a cash contribution provide capital loss coverage and indemnify standard pacific against undisclosed liabilities
in addition simon said first central financial is actively looking for and has several acquisition brokers looking for a small life insurance company to acquire he said the acquisition should be in the 10 mln dlr range and will be part of a strategy of expanding the company into a wide spectrum of insurance services no specific company has been targeted as yet but i would like to make my first acquisition in 1987 he said
the plant will be able to handle 110000 bpd of venezuelan heavy crudes which make up more than half of the countrys crude oil exports
there is an agreement the source close to the philippine delegation said adding that details would be announced at the press conference
it also secured a 20000 tonne cargo of optional origin rapeseed oil for may 15 jun 15 shipment at 321 dlrs cif
however some foreign exchange dealers disagreed saying the local dollar is primarily interest rate driven and will move lower
ivanov also accused the united states of stepping up the regional crisis and of failing to exert genuine efforts to end the iran iraq war
european chocolate manufacturers and delegates said the accord may boost cocoa prices immediately but world surpluses overhanging the market will pull prices down again before long
a majority of the note issues were for japanese borrowers
despite the unprecedented size of this euromarket facility morgan guaranty said that it was being syndicated only among bps relationship banks
our belief is that we could still get a move downwards in rates before anything else said salomons di clemente adding that the key swing factor will continue to be the strength of the us economy
marcade said this latest deal is part of an ongoing acquisition phase
commerzbank declined to say how much it had paid for linotype
the loan is repayable in 40 years including a 10 year grace period
wedgestone realty investors trust said shareholkders have approved the acquisition of its advisor wedgestone advisory corp for 600000 shares
it did not say whether only opec or both opec and other producers were behind the reported rise in mideast output
six ships are loading 120000 tonnes of wheat the sources said
telex tc may seek other purchasers
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting pays 3 8 pct
as previously announced brooksville shareholders will get cash and stock in exchange for their shares
the average yield on the three month bills was the highest since 566 pct on feb 17
brown reported 1986 net income of 105 dlrs per share or 545 mln dlrs on revenues of 1917 mln dlrs
the offer was for 45 dlrs in cash securities with a face value of 70 dlrs and a contingent payment certificate that would pay out as much as 70 dlrs over a 20 year period for each share of holly sugar outstanding
we have been playing a very full part ourselves he said
the company was also able to use lower interest rates to reduce its interest expenses to 614 mln dlrs in 1986 from 627 mln dlrs the previous year
shr 11 cts vs 13 cts net 234326 vs 266653 revs 55 mln vs 58 mln six months shr 21 cts vs 31 cts net 445509 vs 646978 revs 94 mln vs 108 mln
executives at the company were not immediately available to provide additional details
he said the saudis reported they would no longer accept letters of credit from the bank of brazil or even from saudi banks and that brazil would have to obtain credit guarantees from leading international banks
usp real estate uspts has gain on sale
the december agreement set an overall output ceiling for opec of 158 mln bpd for first half 1987 and restored fixed prices as from february 1 around a reference point of 18 dlrs
the treasury secretary stressed however it was very important for the main surplus countries to grow as fast as they could consistent with low inflation to resolve trade imbalances
the notes will be convertible into six mln common shares at 1550 dlrs a share by september 30
dome petroleum takes 1986 writedowns totalling 208 billion dlrs
in the latest of a series of trade disputes with washington the executive authority alleged that a section of the us tariff act was incompatible with the gatt general agreement on tariffs and trade because it discriminated against imported products in favour of domestically produced goods
at the request of the board rorer has agreed to extend until 1800 edt july 2 its deadline for response from ah robins
ameritrust corp said its board proposed a two for one split of its common subject to stockholder approval at its may 14 annumal meeting
but if the cuban harvest is bad it will have to go into the open market a japanese trader said pekings major concern regarding imports was price
veslefrikk with estimated recoverable reserves of 258 mln barrels oil and 140 billion cubic feet gas is located 145 km west of bergen
integrated resources inc ire 4th qtr net
it said it is seeking to arrange the balance of about 255 mln dlrs necessary to complete the offer
partially offsetting 1986s record insurance losses nationwide said were record investment gains of 775 mln dlrs and a 28 mln dlr federal tax credit
the deal also obligates bally to buy trumps remaining stake in the company for 33 dlrs a share if the stock price does not reach that level by february 21 1988 it said
while you must keep up the pressure on us to eschew protectionist policies you must act too shultz said
usair stock was trading at 50 3 4 up 2 1 4 on heavy volume of 31 mln shares
van driel said he expected a 1987 us turnover of 700 mln dlrs
s and p noted that manufacturers has about 67 billion dlrs of loans to the major latin debtor nations and has experienced weak earnings
the vote was 71 to 27
bank of japan governor satoshi sumita said he does not expect the dollar to remain unstable and fall further
all options are open at this moment in the context of cooperation on oil production a venezuelan energy and mines ministry source said
japan trade surplus will grow again in 1987 oecd
analysts said ballys health club units profits have remained strong but are skeptical about the industrys long range prospects
fed funds which averaged 621 pct on monday opened at 6 1 8 pct and remained at that level in early trading
the bankruptcy arose from the collapse of ghrs good hope refineries inc which operated a refinery at good hope la
richard grassgreen president of the company said earnings per share are expected to be between 97 cts and one dlr in comparison to 75 cts earnings per share for the fiscal year ended august 29 1986 and 80 cts for the trailing 12 months ended november 1986
chien said taiwans trade will reach 80 billion us dlrs this year compared with 6396 billion last year
asked about the prospect of a priority for agriculture in the negotiations he said one has to be politically realistic if there is any chance of getting it agricultural trade reform done in two to three years its going to have to be as part of a larger package
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 at the goldstrike claims in the carlin camp in northern nevada
commercial union has had a euro commercial paper program since the autumn of 1985 and a guilder commercial paper program since january 1986
in a separate statement on japan the ec ministers said they deplore the continued aggravation of the imbalance in trade and expect japan to open up its market more the statement said the ec would continue to insist that japan boost imports and stimulate domestic demand
kingsbridge holdings ltd said it signed a letter of intent for a merger with masco sports inc the transaction calls for 230 mln sahres of kingsbridge common stock to be issued to shareholders of masco
overall lears aerospace groups eight subsidiaries employs 7200 people
closing of the deal is expected by may
zondervan corp zond 4th qtr net
noverco said it sold off 400500 shares to reduce the investment of noverco in sceptre additional common shares of sceptre may be sold or purchased by noverco depending upon market conditions noverco said
the important thing is that it continue year after year lawson said
1986 2nd qtr and six mth net excludes 667000 dlrs and 3043000 dlrs respectively for tax carryforwards
earnings per one stg of deferred stock 417p vs 349 div 115p making 190 vs 160 turnover 195 billion stg vs 163 billion pretax profit 1741 mln vs 1256 mln tax 494 mln vs 349 mln note companys full name is peninsular and oriental steam navigation co plc porll net operating costs 177 billion stg vs 151 billion share of profits of associates 211 mln vs 379 mln operating profit 2063 mln vs 1542 mln investment income 17 mln vs 36 mln net interest payable 295 mln vs 292 mln employee profit sharing 44 mln vs 30 mln minority interests 25 mln debit vs 24 mln debit extraordinary items 298 mln credit vs 01 mln credit group operating profit includes service industries 407 mln vs 344 mln passenger shipping 195 mln vs 131 mln housebuilding construction development 501 mln vs 300 mln container and bulk shipping 438 mln vs 344 mln p and o australia 66 mln vs 94 mln banking nil vs 77 mln investment property income 456 mln vs 252 mln
coca cola bottling coke terminates talks
brown and sons inc absb found the proposal to be fair from a financial point of view
altus bank said it has not been able to reach a definitive agreement to buy horizon financial corp horizon funding and 28 billion dlrs in loan servicing from victor savings and loan association
mitis call to japanese chip makers last month to cut production of key memory chips in the first quarter of this year has begun to dry up the source of cheap chips for sale in the non regulated grey market honda said
soybean acreage in the eastern corn belt will not budge he said
he predicted the trade deficit which was 170 billion dlrs in 1986 would decline by 30 to 40 billion dlrs in 1987 and in 1988
he weinberger opposes it
commercial banks and life insurance companies are the main supporters of a farm loan secondary market since they believe it would allow private lenders to compete more effectively in rural lending with the quasi government farm credit system traditionally the largest lender to farmers
argentine port workers take industrial action
the company said the wireline services operations being sold are in lafayette houma and harvey la alvin odessa and longview texas and moore okla
qtly div four cts vs four cts prior pay april 15 record march 31
the bank said a 34 mln dlr loan is to help jamaicas sugar industry become self sufficient and meet both domestic demand and the export demand of the united states and european community
kenner parker toys inc kpt 3rd qtr oper
baird and co agreed that the need for gas supplies would set the stage for a new cycle of gradual increases in us drilling
oil world presumed some imports were not used immediately but went into stocks
the increase in exports of beef as a percentage of production has mainly been attributed to the decline in the australian dollar the amlc said
progressive is currently involved in a proposed merger with rainbow corp ltd rainbow earlier this week raised its stake in progressive to 52 pct
the united states said its forces destroyed an iranian oil platform in the gulf and struck at a second on monday in retaliation for a recent iranian missile attack on a us flagged kuwaiti ship
company recently raised equity and voting interests in hees international corp to 134 pct and 161 pct respectively
first city the big texas bank hit hardest by the downturn in oil prices lost a record 402 mln dlrs in fiscal year 1986 and has said it is seeking a merger partner or some other capital assistance
new montreal newspaper folds
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
the negotiations are not going to prosper if the creditor banks do not change the counter proposal put to argentina as it is a swiss cheese full of holes ruling radical party deputy raul baglini said
turkish trade deficit widens in 1986
the sale was approved by the west virginia public service commission in january and became effective march one
the stock exchange is virtually certain to agree to change its regulations in order to permit when issued trading of uk government bonds gilts as part of an experimental series of bond auctions later this year market sources said
the debentures have an 8 7 8 pct coupon and were priced at 9920 to yield 135 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the businesses assets were 6457 mln dlrs in 1986 the report said
financial services saw profits double to 282 mln with both eagle star and allied dunbar achieving further growth
in a second stage of the operation the company will issue 363 mln new 100 franc nominal shares at a price of 120 francs in the ratio of three new shares for 20 existing 10 franc nominal shares
it said the officials reaffirmed the view that around current levels their currencies are within ranges broadly consistent with economic fundamentals and the basic policy intentions outlined at the louvre meeting
also they said a flurry of arbitrage related sell programs that pounded the general market today accelerated the selloff of american express a component of the dow industrial average
lifestyle restaurants inc said revenues for the first quarter ended january 24 1985 were 175 mln dlrs and not the 178 mln dlrs it had reported earlier
the restatement was made because of change in the method of accounting for a combination of several company controlled concerns that resulted in a 535 mln dlr charge cooper development said
belgian budget minister guy verhofstadt has proposed a plan to sell off shares in several state owned enterprises including national airline sabena and the postal and telecommunications authority government sources said
bellsouth bls completes purchase for shares
foreign exchange trading profits rose to 379 mln dlrs from 270 mln but bond trading profits dropped to 219 mln dlrs from 262 mln
shr loss nil vs profit nil net loss 17000 vs profit 31000 revs 5429000 up 27 pct year shr profit four cts vs profit five cts net profit 523000 vs profit 421000 revs 183 mln vs 116 mln avg shrs 152 mln vs 8941000 note year net includes tax credits of 131000 dlrs vs 194000 dlrs
cri said it has not yet declared a distribution on the park meadows loan disposition
herbert also said that institutions which are more likely to accept a share alternative than cash would have to judge the respective values of etl and csr shares
mclean said the agreement also calls for crowley to release us lines sa for any damages and unpaid charter hire for three vessels leased to us lines sa by crowley which have been returned to crowley
rain over wide areas has raised the prospect of good food crops throughout ethiopia which suffered a disastrous drought and famine two years ago
by contrast west germany with the ecs most successful economy has never threatened tokyo with sanctions preferring to rely on firm diplomacy and encouragement of its own industries to surmount obstacles to export to japan
pork checkoff refunds less than expected
international business machines corp ibm net
faced with competing demands for increased military and police spending and the pressing need for more funds for black housing and education finance minister barend du plessis is expected to raise significantly the governments overall expenditure targets when he presents the budget to parliament the analysts said
iran vows reprisal for us attack on oil rig
llc llc amalgamated report six months net
but there just isnt much talk about it informally or formally most analysts interviewed by were more confident than usda officials that bonus wheat would be offered to the soviets even though us officials did not make such an offer when they held grain talks with soviet counterparts earlier this week
in a grantor trust investors buy asset backed certificates that represent a specified percentage of an undivided interest in the trust analysts explained
he said if the government approved a long standing sra recommendation to manufacture ethanol the project would take up another 150000 tonnes slightly raising the target
in fiscal 1985 86 aircraft accounted for 171 pct of mhis sales shipbuilding 17 pct and power plants 279 pct
under the new policy all future exploration and related administration costs will be written off to expenses rather than capitalized as an intangible asset it said
dupont unit raises crude oil postings 50 cts bbl effective yesterday
the ministry which considers two monthly comparisons to be a better guide to trends said output in january and february together fell around two pct against november and december
redemption is on march 1 1997 the same date as the first tranche which was also issued at 9950 pct
since it has not yet decided how to treat the additional writedowns and debt it has delayed its 1986 financial statement
williams and griggs agreed the fed will let the funds rate be largely market driven
the two presidents also signed a variety of agreements aimed at boosting trade and tourism between their countries as well a number of technical cooperation pacts
pier 1 also declared a 125 pct annual dividend increase for the post split common shares
the student loan marketing association said it plans to price 300 mln dlrs of short term floating rate notes due oct 8 1987 on monday
british petroleum co plcs announcement that its us subsidiary intends to tender for the 45 pct of standard oil co srd it does not already own catapulted us oil stocks sharply higher this morning traders and analysts said
the number of non farm payroll jobs rose 164000 last month after rising a revised 236000 in february
qtly div nine cts vs nine cts previously pay may 11 record april 17
june yen closed at 0006913 on tuesday
gains on the sales of westar timbers skeena and celgar pulp mills and terrace sawmill partially offset the extraordinary loss the company said
but last week the bank of japan spent an estimated five billion dlrs intervening to halt the rise in the yen and other central banks about one billion dlrs
the latest period of weakness for the dollar has accentuated fears that currency risk might induce japanese investors in particular to undertake dramatic reductions in their portfolios of us treasury issues
the bank creditors advisory committee led by manufacturers hanover trust co rejected the concept as it was originally drafted but the counter proposal made on friday contains a revised version bankers said
errors and omissions were 265 billion dlrs in surplus compared with a 127 billion surplus a year earlier and a 110 billion deficit in january
ecuador negotiates with nigeria for lending oil
us has to midnight to set orange juice duties
baglini said that as a result todays scheduled second day of talks had been postponed
after more than four hours of talks the g 7 issued a communique which merely reaffirmed the recent paris agreements view that prevailing currency levels were broadly consistent with economic fundamentals and that exchange rate stability should be fostered around these levels
the company said the tender has been extended until november 6
postech the canadian firms us marketing arm sells computerized restaurant management systems and security systems in the us the deal is subject to approval by the boards of postech and rexcom
in a speech to the national newspaper association baker said the six steps beginning with the plaza agreement and culminating in the paris accord are only a start he added we see our role as a steward of a process in which we sit down with our industrial allies to find ways to promote more balanced international growth the paris agreements called trade surplus countries to strengthen their growth and on the us to reduce its budget deficit
however negotiations for the block repurchase were unsuccessful and have been terminated
bank of montreal brazils largest canadian bank creditor said last week it was not currently considering declaring its 198 billion dlrs of brazilian loans as non performing
trans world airlines inc which disclosed that it does not intend to seek control of usair group at this time said it still believes a combination of the two airlines would have benefits to both
middle south msu to form new dividend policy
lilly said it will buy shares of stock from time to time in the open market at prevailing prices or in privately negotiated transactions
boston five bfcso neworld nworo to merge
the bonus was made to first interstate trading co and will be paid to the exporter in the form of commodities from ccc stocks the department said
kingsbridge masco set merger
japan must now be especially careful about a flare up in inflation with money supply growth accelerating he said
basix corp bas to sell unit to cubic cub 
the yen should stabilize at around 152 to 153 to the us dollar for about a year the bank of tokyos economic adviser koei narusawa said
nowak said his increased estimates come after the company told analysts yesterday that its first quarter earnings will comfortably cover its quarterly dividend requirement of one dlr a share
texacos stevens said that aerial surveillance has not found any crude on the water in the river or in lake texoma which is nearby
the effect of these sacrifices meant that market stability though restored to a good level was still under pressure al wattari said
at the start of october 1986 stocks of these oils were unusually high and represented 68 weeks of the current seasons prospective demand compared with six weeks a year ago and with 54 weeks in 1984 he said
cathode use by mills and refiners increased to 255266000 lbs in january from 238821000 lbs in december
alaska housing finance corp signed a 150 mln dlr revolving credit facility and a 150 mln dlr euro commercial paper program merrill lynch capital markets said
a manila court yesterday issued an injunction barring ucpb from selling the shares which represent 31 pct of smcs outstanding capital stock of 121 mln shares until hearings on april 21 on a petition filed by eduardo cojuangco a former chairman of both smc and ucpb
analysts said wendys has suffered largely from the burger wars between itself mcdonalds corp mcd and pillsbury cos psy burger king chain
revising the definition of infested to give equal value to all insects injurious to grain
it said so called lockup devices in which securities are issued to a friendly investor to seal a takeover deal or fend off an unfriendly predator should be limited to 185 pct of the target companys total common stock
so long as there is an external imbalance there will be trade friction and harsh words between the two governments the foreign ministry official told reporters
total investment is estimated at 10 mln dlrs of which the chileans will contribute two mln
dealers said that last week a 260 mln dlr trade involving two and 10 year treasuries was transacted on brokers screens
the legislation is part of the omnibus trade bill being considered by several committees
i have to consider whats been presented and issue an opinion on this
a company spokesman declined to give the purchase price
kaunda said that once preparations had been completed for evacuating zambias mineral exports on safe and dependable routes his government would look to increase its usage of tazara for other types of cargo
he gave no details on price
thus the dollar firmed to close the period at 18320 marks and 15370 yen
others note that the pound could yet prove vulnerable to oil price losses or a change of fortune for the dollar
sales activity in soybean oil resulted in decreases of 4400 tonnes as reductions for unknown destinations more than offset increases for canada the dominican republic and panama the department said
this rumour is baseless
the injection of capital in phb and in uab including the recamp of management in these banks are some of the measures taken by the bank to strengthen public confidence in the stability of the these banks it added
graff said we invested heavily in 1986 which we believe will result in higher future growth and earnings for the company
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
over the weekend criticism by baker of the tightening in west german monetary policy had prompted a sharp fall of the dollar on speculation that louvre cooperation had ended
the parents downgrade recognized risks associated with texas airs investment in operating companies that will require substantial external financing to buy aircraft
indonesian net exports therefore may fall by 29 pct to 350000 tonnes oil world said
a top us official said japan has little chance of convincing the us to drop threatened trade sanctions despite the efforts of a japanese team that left for washington today
there were rumours on the london coffee market earlier today that dauster would not attend the meeting
i dont have any doubt that the current transaction can be worked out and completed provided we get to the point where ami management will sit down and talk in a friendly environment pesch said
prices for flat rolled steel sheet used in automobiles appliances and other products vary widely between about 350 and 800 dlrs a ton
maude averaged out the wide swings in the retail sales data over past four months to show that the pace of consumer spending is slowing
kapok corp said it is in techical default of its loans from southeast banking corp stb and murray steinfeld but is negotiating with the lenders
moodys may upgrade upjohn upj debt ratings
cotton and rice are pakistans main exports which have been handled exclusively by state corporations since early 1970s
hernandez was speaking to reporters at miraflores palace on the results of talks with ecuadors deputy energy minister fernando santos alvite who arrived here last night
oil markets show respect for new opec accord
penney said it will establish an independent merchandising and marketing organization to manage and support the shops which will be staffed by personnel both from within and outside the company
the seven year bond pays 11 pct and is being issued at 101 of par payment date is may 20
the company said the agreement is subject to regulatory approval
the international sugar agreement isa will be renegotiated international sugar organization iso officer in charge constantin politoff told after a special session of the pacts council
inverness petroleum ltd said it acquired the oil and gas assets of its controlling shareholder silverton resources ltd for 264 mln dlrs effective march 3 1987
akzo unit concludes licence agreement with basf
economists polled by said that m 1 would be anywhere from down two billion dlrs to up 18 billion
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
pacific gas and electric cos plan to change its accounting methods for nuclear plant revenues together with the prospect of higher higher domestic interest rates helped push the companys stock price down 2 1 8 to 22 utility analysts and company executives said
the average yield on the six month bills was the highest since 613 pct on june 23 1986
through other subsidiaries allegheny provides coin operated laundry services building maintenance services and retail office and furniture operations
qtly div seven cts vs seven cts prior pay may eight record april 17
rates have risen steadily for vessels loading next month
altus formerly known as first southern federal savings and loan association earlier announced the signing of a letter of intent to make the acquisitions
the economy will grow by an average rate of 22 pct a year in real terms between now and the end of 1991 westdeutsche landesbank girozentrale westlb said in an annual report
the treasurys operating cash balance totaled 17817 billion dlrs on march 5 compared with 18330 billion dlrs on march 4
imports of rice to japan are banned under the foodstuff control act
soybean sales of 240500 tonnes were one fifth below the prior week and nearly one third below the four week average
iraq informed the 37 banks in the loan syndicate last september it could not meet the remaining four principal repayments totalling 285 mln dlrs and missed the first of these for 7125 mln due on september 29
alleghany corp y declares 1987 dividend
some mechanism has to be found to finance a country like brazil funaro said
trico industries inc said it has received a six mln dlr contract to supply hydraulic lift equipment for heavy crude oil production for the chinese ministry of petroleum industry
the debentures are non callable for three years and non refundable for five years drexel said as lead manager
nbd bancorp nbd regular dividend set
ef hutton efh units purolator offer expires
interco establishes 50 mln dlr revolving facility
lloyds bank matches base rate cut to 105 pct
japanese officials said late last week a package to bolster domestic demand will be ready in early april
it said the increase will be declared at the may 1987 board meeting and reflected in regular payments beginning in july 1987
the frenzy and disruption created by merger mania is particularly distressing shad said the recent cases involving ivan boesky dennis levine and others was a warning that those who engage in insider trading were taking a heavy risk of imprisonment high fines and disbarment from the securities industry
shippers can bid a premium over the contribution quota payable on coffee exports and the succesful bidder will add this premium to the contribution quota when he submits his export sales declaration form
he did not elaborate
speed o print business machines corp is full name of company
final terms will be fixed on april 15
scimed said the suit which alleges that scimed infringed on advanced cardiovascular patents is without merit
moodys said its focus will be on halls brokerage business and contingent liabilities associated with the unit union indemnity insurance co
payment terms vary depending on the type of service provided a southwestern spokesman said
last week saw 60500 tonnes whites athuorised for export at a maximum rebate of 44819 ecus per 100 kilos
sosnoff
galactic resources ltd earlier reporting a 1986 loss of 256 mln us dlrs said it adopted a more conservative accounting policy similar to other gold producers accounting for exploration costs
micron technology inc dramo 3rd qtr june four
peoples heritage bank phbk 1st qtr net
brazilian finance minister meets stoltenberg
the iea an alliance of 21 oil consuming countries was formed after the 1973 74 arab oil embargo to find ways to deal with any future oil cutoff
the sale is subject to the approval of the bureau of competition policy
the statement repeated the request gencorp remove a poison pill preferred share purchase rights to shareholders making any takeover more expensive
the fed seems to have been a bit slow in meeting the banking systems reserve needs this statement period but i wouldnt conclude anything until ive seen the fed data said jeffrey leeds of chemical bank
the managers of the facility are westpac bank of montreal asia ltd bot international hk ltd commonwealth bank of australia and credit industriel et commercial de paris
however bankers said one of the main points under discussion is a plan to refinance the bulk of the ecgds medium term credit portfolio in the international capital markets
paul feretti an analyst with new orleans based howard weil labouisse friedrichs inc said he was not surprised at market rumors that tenneco might be the target of a takeover attempt
it said the stock split will occur through a 50 pct stock distribution on hydraulics common stock payable april 30 to stockholders of record on april 3
it also said it was the largest shareholder of usair and threatened to go directly to usair shareholders with an offer for 51 pct of the stock at a lower price
deutsche lufthansa ag lhagf said it launched today regular scheduled services from frankfurt to washington dc and riyadh
rico noted that the possible formation along with the fact that the rally of the last two weeks in bond futures has occurred on relatively low volume were negative signals
we have yet to finalize details on how the compensation will be carried out and how opec production quotas will be affected he said during the signing of a joint venture deal with union pacific corp today
bci said the new fund is structured as a guernsey based unit trust which will be listed on the luxembourg stock exchange
uk credit policy seen steady despite bank data
brazilian finance minister dilson funaro will extend his international tour flying to japan for talks with government officials and representatives of banks to explain brazils decision to halt payment of part of its 109 billion dlrs foreign debt finance ministry sources said
india and egypt bought white sugar this week while next week sees tenders by pakistan greece and syria they said
we want an end to the war with no winners and no losers and any activities or statements that tend to prolong the war or increase hostilities are not helpful or welcome redman said he could not independently confirm reports that iran has offered to halt attacks on gulf shipping
accordingly it said it filed a registration statement with the securities and exchange commission for a proposed offering of three mln shares of its class a non voting common stock which reflects the anticipated dividend
the uae suffered a 195 pct drop in gross domestic product to 776 billion dirhams last year from 964 billion in 1985 it added
northgate ngx quebec ore reserves decline
french operators have requested licences to export 422000 tonnes of free market maize 212000 tonnes of barley and 20000 tonnes of feed wheat at todays ec tender trade sources said
when we saw that there was a demand and supply of money outside the banking system we could not envisage ourselves excluded from these transactions said osman erk deputy general manager of the private bank yapi ve kredi bankasi as
pansophic systems inc said it will split its stock two for one effective april two to shareholders of record march 13
there wont be much specific improvement in coming months
qtly div 20 cts vs 20 cts prior qtr pay 6 may record 21 april
rain patterns will move across indiana to ohio with thudershower activity yielding to more general rains he said
the hunt group said it has told comdata that it considers required payments under the plan such as a 15 mln dlr fee and the issuance of a warrant to buy 500000 common shares to be a waste of the companys assets
shr eight cts vs 10 cts qtly div 30 cts vs 30 cts prior net 204064 vs 245931 nine mths shr 114 dlrs vs 52 cts net 2850042 vs 1291047 note 1987 and 1986 nine mths includes a net gain on sale of assets of 2258206 dlrs or 90 cts a share and 459503 dlrs respectively
douglas computer international year net
chase said the offer for the remaining 276 pct of entregrowth worth 342 mln dlrs involved the issue of 580 mln chase shares and 310 mln chase options
year net includes pretax lifo inventory charge 600000 dlrs vs credit 900000 dlrs tax rate 406 pct vs 320 pct due to impact of tax reform act of 1986
geiger told finance ministers should meet soon to take confidence building measures to limit the damage caused by the dollars fall separately geiger told bild newspaper in an interview released ahead of publication on tuesday that the lower dollar which had been artificially talked down by us officials would damage west german exports and cost jobs
the partnership said it will terminate before august 3 1987
cost of pik certificates to be eyed by congress
shr 104 dlrs vs 78 cts net 1092 mln vs 839 mln revs 5613 mln vs 4605 mln nine mths shr 261 dlrs vs 191 dlrs net 2738 mln vs 2066 mln revs 156 billion vs 127 billion note per shr amounts reflect the 2 for 1 split to shareholders of record on june 1 1987
leroy pesch the principal shareholder of pesch and co
i do not believe they have up to this time mulford told a senate banking subcommittee
the seoul government wants tokyo to ease various import restrictions and simplify customs inspections for south korean goods to help reduce the trade deficit
note dividends payable june 2 books close april 16 to 24
however eurobond market participants believe the bank of england is concerned about intense competition for market share which may have caused some firms to expose themselves to imprudent credit risk
he said he expected further declines in later months but did not give figures
morgan stanley said it bid the columbus and southern ohio mortgage bonds at 99609 and set a coupon of nine pct and reoffering price of par to yield 140 basis points over the off the run 9 1 4 pct treasury bonds of 2016
avnet said it will use the net proceeds for general working capital purposes and the anticipated domestic and foreign expansion of its distribution assembly and manufacturing businesses
continental general cgic sets stock dividend
soybean futures posted sharp gains on the chicago board of trade while corn and wheat were lower
mexico veg oil tax not aimed at sunflower usda
the february rise in production was aided by a sharp 19 pct increase in construction output compared with january when production in many industrial sectors was depressed by unusually severe winter weather
if these credit lines were cut we would face difficulties to honour our foreign debt in the future funaro said
irvam said yields are expected higher than last years low levels if favourable weather continues in the next few weeks
the industry said the mercury was being sold at more than 40 pct below prices charged by ec producers forcing them to cut their prices to levels that no longer covered costs
the federal reserve is expected to intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements economists said
usx said in december the company had held formal discussions with bp about the potential sale of some of its overseas oil assets and usx had received expressions of interest from a half dozen other oil companies
wallin said the 15 pct earnings growth for fiscal 1988 does not include dilutions from acquisitions
the figures issued by accountants on behalf of the svz put total losses for last year at 34 mln guilders and in 1985 at 37 mln
the poll was taken after the budget which was greeted enthusiastically by financial markets but seems to have left the voters indifferent political observers said
celltronics inc said its directors declared a one for 10 reverse stock split of its common stock
tense trade relations with the us and japan and concern about the foreign impact of a proposed european community ec tax on edible oils and fats are expected to dominate talks by ec foreign ministers here tomorrow
alc communications corp alcc 1986 loss
the adelaide steamship co ltd adsas adsteam said its one for five rights issue at 1150 dlrs a share will raise 2285 mln dlrs for general working capital and investment both in australia and overseas
underwriters were not named in the draft prospectus
analysts reasoned that chrysler might feel moved eventually to sell off or close some of the older plants to cut overhead costs in view of the new debts and liabilities it would incur in the amc buyout
west germany reschedules sierra leone debt
the issue of 46 mln shares in adr form had now been successfully completed he added
a total 102350 tonnes of current series white sugar received export rebates of a maximum 46864 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
the figures also showed that on october 1 there were more than 8000 cooperative enterprises employing over 80000 people
analysts said the change will discourage some farmers from participating in the program which could result in more cotton
there is an even greater amount of stimulus than was originally thought said shultz speaking from washington
westpac banking corp in new zealand announced yesterday it would increase its indicator lending rate by 15 percentage points to 225 pct on april 7
we were looking for 115 dlrs said an analyst at a major wall street firm who declined to be identified
profits from the us accounted for 39 pct of the total
american cablesystems corp said it agreed in principal to buy a cable television system in los angeles county from heritage communications inc hci for 155 mln dlrs
while many believe producers will not seek to add to the overburdened stock situation in the us others believe some will ship outside of the quota requirements in lieu of monitoring controls trade sources said
australian treasurer paul keating said he expects the countrys 1986 87 current account deficit to be one billion dlrs lower than the 147 billion forecast in the august budget
the convertibles are rated b 2 by moodys and bb minus by s and p
chemicals group bayer ag baygf said it expects to post another good result in 1987 after raising pre tax profit to a new record high in 1986
morgan grenfell group plcs morgan grenfell capital management unit said it plans to offer in late april 7500000 shares of closed end fund morgan grenfell smallcap fund at 10 dlrs each
uk physical wheat values recovered from initial losses of one to two stg per tonne caused by overnight news of the release of an additional 300000 tonnes of intervention feed wheat for uk weekly home market tenders
he cited news reports that germany would increase a proposed tax cut for 1988 by about five billion marks to stimulate domestic growth
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
it said its new ticker symbol will be majv the company also said it expects to add nine company owned and franchised major video stores in the next 60 days
the sources also said the government had already stepped up its borrowing programme in anticipation on increased needs
cooper development bugs restates results
todd tod debt may be downgraded by moodys
the department said the action was taken at the request of iraqs state trade organization for grains and foodstuffs
signet banking corp regular dividend
bank of japan to sell 1200 billion yen in bills
indias oilseed output is expected to rise to 1225 mln tonnes in 1986 87 ending october up on 1115 mln in 1985 86 but down from 1295 mln harvested in 1984 85 the agriculture ministrys 1986 87 report said
the company said it will consolidate life products into the companys headquarters and manufacturing operations in minneapolis
but he declined to comment on rumours the company would take a 10 pct stake in shearson lehman brothers an investment banking unit of american express co axp he said the firm started to sound out several us investment banks on capital participation about 18 months ago and was narrowing the number of prospects but he did not say if it had set its sights on one firm
a miti official told he did not rule out the possibility of further mergers within the japanese oil industry in the event of the relaxation of oil controls
us agriculture secretary richard lyng will ask the japanese government to remove all beef import restrictions when he visits there next month
tay thiam peng manager for international trading at the trade development board said the decision would boost singapores image as a major delivery port
the law requires shipment of us goods on american ships rather than foreign vessels which are less costly
elders purchase of canadian brewer approved
engineering measurements co said it formed a general partnership with several external investment groups in which the company will have a 585 pct interest and be managing partner
allegheny ag prefered shareholders file suit
champion said it estimates the project will be completed by the end of 1989
retail investors generally do not see new issue product said an officer on painewebbers corporate syndicate desk
ohio mattress omt to sell convertible debt
cpc said inoc planned to ship the oil to an indian port for delivery of indian requirements later going to colombo to offload cpcs needs but cpc considered this unsuitable
production has also been seriously affected in recent years by equipment breakdowns deteriorating ore and shortages of spare parts fuel and lubricants
first montauk securities corp said it has reached a preliminary merger agreement with mcc presidential inc
top officials arrive at treasury for g 5 talks
the banks can on lend these to generate profit but generally banks are awash with liquidity since they are unwilling to risk incurring fresh non performing loans
the bp plant in which swedens state owned ok petroleum ab has a 22 pct started up in 1967 and has an annual capacity of 47 mln tonnes
im not saying that is going to happen but gillette is an undervalued stock with a breakup value of 45 dlrs per share shore of shearson lehman said there are a couple of reasons why perelman may not be really interested in acquiring gillette
the system will be effective until the end of 1988
in its weekly petroleum status report the energy department agency said distillate demand was down 22 pct in the period to 333 mln bpd from 340 mln a year earlier
the bulk of the 253 billion marks investment in new projects up from 294 mln marks in 1985 went on the capital increase of hoechst capital corp in connection with the acquisition of celanese corp celanese was merged with american hoechst in february to form hoechst celanese corp
energy drilling industry
in the us organic growth from the lipton foods business considerable expansion in the household products business and in margarine had been behind the overall sales increase
china foreign reserves exceed 10 billion dlrs
there were 552500 additional shares outstanding
japans cabinet approved a plan to help financially troubled aluminium ventures in indonesia and brazil an official at the ministry of international and trade industry miti said
plm plma unit ends merger talks
but mpt is finding domestic political prowess does not always help when it comes to trade friction diplomacy analysts said
the bank of france said it invited offers of first category paper today for a money market intervention tender
it said the proposal is currently being studied by goldman sachs and co and legal counsel
they said 05 pct fuel oil is up by 50 cts to 2195 dlrs a barrel
oecd directors are expected to approve the release at a meeting in mid may
the oecd forecast a 275 pct rise in consumer prices for the second half of this year a one pct drop from the first six months
i think we got a better deal
the company said the transaction will increase triton energys holding in canadian worldwide to 1325 mln shrs or a 60 pct fully diluted interest from 95 mln shares
a definite decision on wirsbo will be taken later this year
in addition the minority interest and deferred income taxes attributable to standard oil would be excluded from british petroleums capitalization
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
japan the biggest buyer imported 384622 tonnes of thai rubber in 1986 up from 348855 the previous year it said
corn imports in 1985 86 are estimated at 1040 mln tonnes vs 1040 mln last month
communications systems inc csii 4th qtr net
a supply shortage of number two oil in new york for prompt delivery boosted the april heating oil contract on us energy futures traders said
ltv also said it agreed to reopen its offer contained in the tentative agreement reached with the unions negotiating committee as part of a plan to resolve problems through local discussions
proceeds will be used together with funds from the companys operations to redeem southern naturals 15 pct sinking fund debentures of 1991
many traders took on long pound short west german mark futures positions although some of those cross trades were liquidated yesterday sloane said
hawker siddeley said it set aside a provision of 77 mln dlrs for the proposed sale
on the trade deficit johnson warned against quick fix solutions which he identified as excessive dollar depreciation or protectionist trade legislation
chase said the offer is conditional it receiving accptances for at least 90 pct of the shares and options
uk trade figures buoy hopes of interest rate cut
he said he was pleased that chairman a
cyclops cyl says dixons agreements binding
as well as dealing with the ongoing litigation the council will continue with its statistical work and carry out some research studies although staffing in the research department is being cut to one from two previously
shr loss seven cts vs loss 383 dlrs net profit 1700000 vs loss 13900000 revs 187 mln vs 256 mln note current shr after preferred dividends of 20 mln dlrs prior shr and net includes 345 mln dlr writedown on oil properties
in an interview with a small group of reporters baker said discussions on far reaching reforms of the bank would resume around the fringes of the semiannual meeting of the international monetary fund in two weeks time
many even resort to harakiri swaps those with unprofitable pricing
it said any rating change until then would depend on each individual bank holding company
vms mortgage investors lp ii said it declared a first quarter 1987 cash distribution of 21 cts a depositary unit up five pct from the prior quarter
the increases in beet plantings have especially caused concern among cane growers who have not expanded plantings particularly in hawaii industry officials said
selling six flags is definitely under consideration peltier said in response to an inquiry
four of the gcc states saudi arabia the united arab emirates uae kuwait and qatar are members of the organiaation of petroleum exporting countries opec and some face stiff buyer resistance to official opec prices
ute geipel head of research at citibank ag says that poehls reappointment would guarantee flexible monetary policy
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
treasury secretary james baker said he stood by the paris agreement among leading industrial nations to foster exchange rate stability around current levels
singapore banks say diversification key to growth
the bank of spain raised overnight call money rates by 1 4 to 14 pct on demand for 746 billion pesetas in todays auction which a bank spokesman termed heavy rates stood at 121 pct at the start of the year and have been increased to drain liquidity on rising demands for funds the spokesman said
it said the planned transactions will leave mclean with no significant shipping assets except 12 new york class vessels which are not in operation and are expected to be sold
the debentures are convertible into the companys common stock at 32 dlrs a share representing a 2673 pct premium over the stock price when terms on the debt were set
may department stores co 4th qtr shr 138 dlrs vs 124 dlrs
non callable for life the issue is rated a 1 by moodys and aa by standard and poors corp
adams russell co inc said it agreed to acquire cable television systems serving about 7000 customers in new york state from sammons communications inc for undisclosed terms
shr 69 cts vs 64 cts net 7046000 vs 6492000 sales 857 mln vs 796 mln six mths shr 128 dlrs vs 119 dlrs net 13098000 vs 12006000 sales 1663 mln vs 1533 mln note periods end january 31 1987 and 1986 respectively
de bruyn said the tax on vegetable and marine oils and fats would be wide open to fraud difficult to police and hugely expensive administratively
brodersohn said also agreement was close on the proposal for so called exit bonds whereby creditors can sell out their debt
at that time the board will evaluate all the then existing offers for becor it added
ecuador today suspended its crude oil exports indefinitely due to an earthquake last night that damaged pumping and crude transport installations an energy and mines ministry statement said
this is yen strength not dollar weakness he said
bi inc said it is implementing a one for 15 reverse split to shareholders of record today
many independent forecasters have revised down 1987 predictions in light of the downturn in exports
lupberger said a good portion of the improvement projected for the next three years comes from keeping the lid on operating and maintenance expenses
he said he believed brazil might be in a position to resume debt repayments within a year
the uk government is in no hurry to issue more bonds suggesting further market improvement and continuing demand from brokers here said laurie milbank and co assistant manager machiko suzuki
but france is still waiting for a promised industrial recovery the government says will follow from its free market policies
but he declined to comment on the prospects for action by the fed and the bundesbank
the bulk list prices for diphenyl oxide in both technical and refined grades will be raised five pct to 126 dlrs per pound for technical and 136 dlrs per for refined dow said
first bank system inc said it has found a potential buyer for first bank luverne and its office in pipestone minnesota
sigma said the reserves are equivalent to 10 years future production at current milling rates
conservative republicans said increasing the us military obligation in the gulf would place impossible burdens on american servicemen and equipment and warned it could lead to war
corrects the date of the plant closings
the japanese aides here for the technical talks include shigeru muraoka director general of international trade policy of the ministry of international trade and industry miti and masashi yamamoto deputy director general of the information and machinery bureau
one source said india is showing more dynamism in promoting countertrade deals than in the past when the deals were made discreetly because they break gatt rules
gulf and western gw to acquire british company
western co of north america wsn 3rd qtr loss
he calculated salary savings as a result of the strike at 50 mln stg and while loss of income on telephone calls should be limited revenue probably dropped on peripheral activities
us treasury secretary james baker said over the weekend that the paris pact did not encompass fixed tragets for the dollar
integrated generics inc said it is discussing with an unnamed pharmaceutical distributor the sale of 10 pct of its anda development corp subsidiary for 200000 dlrs
price for 03 pct sulphur was unchanged at 2225 dlrs it said
campbell resources cch ups meston lake stake
another diplomat said willingness to provide such voluntary export restraints would be an important issue in bilateral trade issues and in pekings application to gatt
more modest gnp growth of five pct for 1987 was also targeted tigrel said
pryor serves on both the senate finance and agriculture committees
there is no call for three years subsequently at par plus the coupon declining by equal amounts per annum until 1997
it predicted prices would remain at about 15 18 dlrs a barrel for several years and then rise to the mid 20s with imports at about 30 pct of us consumption
australian oil industry to continue tax campaign
qtly div nine cts vs eight cts prior payable july one record june 12
other eurofranc bonds this month are likely to include issues by a bank and a company both unidentified but no other details were available
s p upgrades georgia pacific corps 11 billion dlrs of debt
rosenbaum said the administration would continue to support legislation now before congress which would allow the us customs service to monitor coffee imports as a way to comply with any future coffee quotas
canadas inflation rate is currently hovering around the four pct mark
oncor inc oncro 1st qtr loss
1985 net includes nonrecurring cost of 26 mln dlrs and provision for separation pay of 15 mln dlrs
the third quarter invisibles surplus was revised down to 19 billion stg from 225 billion
an appeal court rejected buitonis claim that the 497 billion lire accord with the state industrial company iri istituto per la ricostruzione industriale was a binding contract
the agriculture departments widening of louisiana gulf differentials will affect county posted prices for number two yellow corn in ten states a usda official said
cenergy reported a net loss of 727 mln dlrs in the nine months to september 30 1986 while total stockholders equity on the same date was 4072 mln dlrs
protein said it and millipore intend to establish an interactive relationship no other details were disclosed about the amount of millipores investment in protein
asked about press reports that ferruzzi might follow up the european sugar flotation with the sale of 49 pct of the cpc business gardini said we do not exclude having minority partners in the cpc business he declined to elaborate
japan details plan to stave off trade problems
standard and poors said weaker international competitiveness in the face of rising labour costs would mean a deteriorating current account balance and a rise in external debt
the rest came from acquisitions he said
south korea plans to import about 387000 tonnes of cotton this year compared to 225000 tonnes in 1986 trade ministry officials said
some seven billion marks is expected to flow in next week
treasury secretary james bakers assurances that us policy is to oppose these loans did not satisfy concerns raised at two senate committee hearings last week
that does not preclude acquisitions and divestitures along the way he said
the department said the year on year rise in producer prices in march was a provisional 37 pct compared with a provisional 42 pct increase in the year to end february
southland slc unit raises crude 50 cts bbl
cpc officials also said the company agreed with the egyptian government for the supply of 240000 tonnes of gulf of suez crude for delivery in two shipments this year at the government selling price
sharon steel corp extends exchange offer
s and p noted that extensive cost cutting programs are under way at mack including the relocation of truck assembly operations to a new plant in south carolina from allentown pa
the test gave ratings expressed as a factor of 100 as follows winter wheat 96 last year 91 winter rye 97 98 winter barley 92 90 spring barley 94 98 oats 96 98 fodder and sugar beets 87 96 winter rapeseed 98 94 spring rapeseed 94 98 final harvest figures for 1986 were not yet available
busy beaver building centers is a pittsburgh pa lumber and building materials company
drexel burnham lambert international ltd is sole underwriter for the european issue
some 840000 hectares of farmland have been planted with cash crops including sugar cane peanuts and soybeans 67000 ha more than in 1986
kay corp kay 4th qtr net
he repeated the central bank will intervene if necessary adding he did not think a dollar free fall was likely
a dealer at another bank said his bank had been asked to publicise the intervention to send a clear signal to the markets that central banks were acting in concert to maintain the exchange rates agreed to be appropriate at last months meeting of the group of five and canada in paris
jacor communications inc said it agreed to buy two denver radio stations from ah belo corp blc for 24 mln dlrs in cash and notes
the united states said it was doing what it could to ease tension in the aegean as greek and turkish warships headed for a possible clash over oil drilling rights on the seas continental shelf
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
morgan officials declined to disclose the level at which pacific purchased the westpac securities although in late february they were quoted at 85 against an issue price of par
the planned spending for exploration and production in 1987 remains well below the 11 billion dlrs spent in 1985 unocal said
even though standard and poors affirmed the debt ratings of citicorp cci bankers trust new york bt bank of boston corp bkb and jp morgan and co inc jpm few buyers can be found for securities issued by those banks traders said
the statement said that with the continued support of b and c together with outside capital the new grouping would emerge as a major group in its own right with the ability to take advantages of opportunities as they arose
credit agricoles stake in the consortium will be 35 pct
the action reduces the guarantee lines previously authorized for sales of cotton from 15 mln dlrs to 500000 dlrs for feedgrains from four mln to two mln and for wheat from 45 mln dlrs to 43 mln dlrs and increases coverage for vegetable oil sales from two mln to seven mln dlrs the department said
ecuador crude oil exports stopped for five months
the new facility replaces old 11 day advances totalling 65 billion guilders at the same rate
it said ramon morales has relinquished his role as president and chief operating officer and assumed the position of executive vice president in charge of international sales
sallie mae said it generally offers short term floating rate notes each month
analyst comeau said supermarkets general may seek a combination with another supermarket company
this move which we believe is the first transaction of its kind helps us further and we were able to make it without suffering a loss
today analyst richard simon of goldman sachs and co reaffirmed his recommendation of the stock and put it on his focus list traders familiar with the recommendation said
coffee talks collapse eases need for us bill
hernandez said while opec and non opec nations have already made some strides in their efforts to strengthen the market the danger of a reversal is always present
director sixten korkman at the bank of finlands monetary department said he expected the bank to pursue an active policy on the interbank market as an issuer of own cds
the dollar dropped sharply in new york after news that paul volcker would step down as chairman of the us federal reserve
moodys reduced to prime 2 from prime 1 the commercial paper of dana and its credit unit
weve decided to drill at least three more wells in there before starting production on a commercial scale production of bombay high part of the bombay offshore field has stabilised at around 500000 barrels per day for the last two years
southmark said it will compute the cash price paid based on the average closing market price of the rights on the american stock exchange for the first ten days the rights are traded beginning april 6
the oecd said that apparent disagreements among major countries on implementation of the louvre accord had helped to undermine business confidence and called on more active fiscal policies from the us west germany and japan to slow demand in the us and raise it in the other two countries
nova subsidiary raises us polyethylene prices
november and december production figures also exceeded last years totals with the result that output in the first three months of the season showed a 231 pct increase over 1985 86
the company said it expects to repay the two year loan through equity preferred and debt offerings and possibly internal funds and the sale and or leaseback of aircraft
unilever said it plans to change its depreciation policy to the more conventional practice of depreciating assets individually rather than depreciating fixed assets at average rates
in a statement the company said it defeated a hostile takeover attempt by gaf corp gaf and recapitalized the company adding while all this was going on our continuing businesses performed very soundly with substantial operating profit improvement over 1985 carbon products posted operating profit of eight mln dlrs in the quarter down from 29 mln dlrs and 49 mln dlrs in the year against a loss of 146 mln dlrs
geoffrey pyne analyst at stockbrokers phillips and drew said he was impressed by the sensible us response
sun life assurance profit up
auditors lift qualification on ps indiana pin 
alex brown inc absb 1st qtr march 27 net
earlier the company reported third quarter pre tax profit for the period ended december 31 of 506 mln stg compared with 452 mln a year earlier
careplus cpls seeks approval in acquisition
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
insituform iglsf raises stake in unit
who decides whether to keep or dismiss his ministers is the president
the price had been reduced to 150 dlrs for the three weeks ending april 3
we will not take any short term decisions which might cause markets to panic dauster added
zaire the worlds leading cobalt producer and the sixth largest supplier of copper depends on the two minerals for two thirds of its export earnings
the uk exported 535460 tonnes of wheat and 336750 tonnes of barley in january the home grown cereals authority hgca said quoting adjusted customs and excise figures
the opening compares with 14390 14400 yen at the close in new york
in fact the line of credit guarantees for tallow is available only for public sector importers walter stern foreign agricultural service turkey analyst said
cash distribution 42621 cts vs 32384 cts prior pay april 14 record march 31 note companys full name is san juan basin royalty trust
iranian oil minister gholamreza aqazadeh is expected here on friday for talks with his algerian counterpart belkacem nabi the official algerian news agency aps said today
cml group inc cmli 2nd qtr jan 31 net
a new agreement covering the repayment of part of south africas foreign debt represents a compromise between that country and its commercial bank creditors following several weeks of intense and difficult negotiations senior banking sources said
louis mo investment advisory firm told the securities and exchange commission it has acquired 55900 shares of supreme equipment and systems corp or 51 pct of the total outstanding
guillevin international inc year jan 31 net
asked if the us federal reserve board agreed in paris last month to intervene to stabilise exchange rates miyazawa said yes the sources said
elkes george c
and international energy agency iea estimates put opec september production at 185 mln bpd
chase econometrics chairman lawrence chimerine said the pick up in the us manufacturing sector is largely due to the drop in the dollars value
the cane crush normally runs from june to december
73 pct owned by kelsey hayes co
agency head says japan should cut rice price
desoto inc dso regular dividend set
international oil traders said that other short haul crudes such as north sea brent were also scarce because asian refiners bought the oil after absorbing a lot of the readily available mideast crudes earlier this week
net includes net investment income of 125 mln vs 112 mln in nine mths 1987 vs 1986 and 4480540 vs 3781245 in qtr 1987 vs 1986
money market sources said institutions in need of funds were likely to have to return to the bank tomorrow for further assistance
oecd officials said the january data and a rise in oil prices above the 15 dlrs a barrel average assumed in the report indicated an upward revision in the inflation forecast to around 25 or three pct
uk reserves show record underlying rise in may
pan alberta united gas settlement approved
us economic data this week could be the key in determining whether us interest rate futures break out of a 3 1 2 month trading range financial analysts said
semi finished goods showed a clear increase in all sectors
he said the government and the consultative group would meet annually to gauge financing needs for each year
in the event sterling continued firm after the rate cut leaving the market still looking for another half point fall
sarney told the meeting an austerity plan to trim government spending would be introduced
shr 50 cts vs 26 cts net 1316000 vs 656000 note qtr 1987 includes tax gain 500000 dlrs or 19 cts per share
salant said it has reached agreement for ray w
taft broadcasting tfb completes station sale
turnover 978 mln stg vs 180 billion
platinum 562 567 palladium 130 130 iridium 400 400 rhodium 1230 1230 ruthenium 80 80
while such approaches may have some political appeal they are impractical and ultimately counterproductive he said
as long as its stake is over 10 pct it said it is entitled to sheldahl board representation
usacafes lp usf 3rd qtr net
in a filing with the securities and exchange commission the group said it bought its stake of 20 mln ameritrust common shares for 811 mln dlrs as an investment
in 1980 the inter governmental international maritime consultative committee issued a report saying more roll on roll off vessels were lost in accidents than ships with deck areas divided by bulkheads
a profit looks quite favorable graff said
occidental petroleum corp said the shiviyacu 23 development well on block 1 ab in the peruvian amazon jungle is producing 6593 barrels of 22 degree gravity oil per day from depths of 9543 to 9547 and 9556 to 9599 feet
the funds raised will be used to increase the banks investment loan offer for small and medium sized companies
last september sainsburys increased its stake in shaws to 285 pct
the offer will be followed by a merger in which each remaining share will be converted into 1975 dlrs cash and 5425 dlrs principal amount of av holdings junior subordinated discount debentures
he expects navistar to earn 120 dlrs a share next year
trimedyne inc said it will distribute one class b common share of automedix sciences inc for each four trimedyne shares held of record on march nine
gte gte files auction preferred share offer
commercial credit co a unit of control data corp is raising 150 mln dlrs through an offering of notes due 1992 with an eight pct coupon and par pricing said lead manager first boston corp
one year ago the gulf of mexico utilization rate was 325 pct
the definitive agreement provides for a closing on april 1 1987
sapporo breweries ltd is launching a 100 mln swiss franc 4 5 8 pct five year guaranteed notes issue priced at 100 1 4 pct lead manager swiss bank corp said
earlier consul said it would exchange 174912 shares of convertible preferred stock for 175 mln dlrs of outstanding 13 pct debentures
in its document on the auctions the bank said the bank is content for such when issued trading to cevelop subject to certain conditions in particular for predential supervision of the credit risk to which the gilt edged market makers and inter dealer brokers may become exposed the bank is widely expected to require dealers to report wehn issued trading positions on a daily basis
in the audited results released today the company broke down results by business segment
aid corp aidc raises quarterly dividend
flowers said it expects fiscal 1988 however to show the best growth in profits in its history due to the growing profitability of ongoing businesses cost control efforts higher productvitiy and lower taxes
dealers said the markets cool response to intervention reflected a basic oversupply of dollars
genetics institute inc earlier reporting an increased first quarter net loss said it expects to incur losses in fiscal 1987 that are somewhat higher than those reported in fiscal 1986 it had a loss of 4504000 dlrs for fiscal 1986 ended november 30 compared to a fiscal 1985 loss of 173200 dlrs
there was no immediate indication when reagan might act on the recommendations of his economic policy council to curb japanese exports to the united states but officials said the move could come today or early next week
we only have to wait two or three years not until the 21st century komatsu said
the spokesman would not comment on recurring speculation that the board might receive a higher offer from chrysler
french state owned aluminium and special metals group pechiney said it has signed two protocols of intent to set up joint ventures with the soviet union
the figure takes into account the deep discount the holders received when they bought the issue
it will begin in la pampa within about 10 days weather permitting
the trust last paid a stock distribution of general development corp gdb shares in july
the statistics office said light heating oil producer prices fell 22 pct in february from january while heavy heating oil prices fell 24 pct
to prevent a resurgence of inflation the bank will take a very cautious stance regarding developments stemming from easy credit conditions he said
soviet timechartering boosts grain freight rates
moodys cited the companys overall losses
current year net includes pretax charges of 466 mln dlrs for provision to reduce carrying value of excess capital assets and to writedown certain inventories and other assets
domestic consumption will rise to 166 mln tonnes in 1987 from 164 mln in 1986 while imports will rise to 77000 tonnes from 70000 and exports will be unchanged at 14000
proxmire said he would call for extending the period that a tender offer must be kept open under the williams act to 60 business days from the current 20 business days
chu jinfeng an official of fengbing county outside shanghai said factory workers get 60 yuan a month and three years unpaid leave to grow grain and can keep the profits
the alternative to driving down the dollar any further as a way to deal with the trade deficit volcker said recently is to reduce us consumption particularly federal spending
for the full year 1986 the current account a broad measure of trade performance was in deficit a record 14057 billion dlrs after a 11768 billion dlr deficit in 1985
in addition on june 25 the gabelli group proposed to acquire all of di giorgios common shares for a combination of 20 dlrs per share in cash a subordinated note with a face value of eight dlrs and one common share of the post buyout company
the g 5 and the market agreed in 1985 that the dollar was overvalued but this time the market and the authorities are on different sides dealers said
wheat ria luna 20000 mt norrkoping and djuron ec mexico 1250 dlrs option loading uddevalla at 50 cents less 4000 1500 16 23 3 continental
for the two week period he said there were relatively high excess reserves on a daily avearge almost all of which were at the smallest banks
market sentiment has fluctuated in recent weeks
it has blamed the fall in 1986 profits on the weaker dollar and lack of demand for steel pipe
shares of du pont co rose today after accumulating recommendations from shearson lehman brothers and first boston traders said
the one time pilot 0 92 program designed to assist farmers in kansas oklahoma michigan and parts of missouri was passed by a 304 100 vote and sent to the senate
brazil seeks to reassure banks on debt suspension
the four billion dlr increase in brazils 100 billion dlr debt would represent no increase in the real inflation adjusted size of its liability he said
tmoc held interests outside the cooper basin region of south australia and queensland and the acquisition would further the santos objective of developing as a broadly based oil and gas company with interests outside its existing base in the cooper basin the company said in a statement
the swiss banker said the economic indicators point to a further slackening of activity and called naive the belief that the five year boom on world equity markets will go on forever
it said it might buy additional cooper lasersonics common shares but said it does not plan to boost its stake above 10 pct of the total outstanding
gillette canada inc is launching a 500 mln french franc bond due april 30 1992 paying nine pct and priced at 101 5 8 banque paribas said on behalf of banque paribas paris the lead manager
gulf arab deputy oil ministers to meet in bahrain
on december 31 1986 the company had 856014 telephones in operation representing 94 pct of all instruments in the country
greyhound corp g completes bus line sale
there will also be a participation fee of five basis points for 125 mln stg
the group lifted net earnings to 1693 mln dlrs in the half ended december 31 from 547 mln a year earlier when it was still in its formative stages
heyman said in the considerable time that has elapsed since our original proposal was submitted the credit and financial markets have experienced extraordinary and almost unprecedented deterioration
iraqs oil minister qassem ahmed taqi has been moved to the heavy industries ministry the official iraqi news agcny ina said tonight
wholly owned mobil corp mob unit mobil oil australia ltd reported a 3863 mln dlr net loss in 1986 a turnaround from its 3725 mln profit in 1985
pacific resources inc said it has installed a calm catenary anchor leg mooring single point mooring terminal off the southwest coast of oahu at its hawaiian independent refinery at a cost of 35 mln dlrs
but s and p noted that the acquisition would broaden ecolabs services
bp bp may have to raise bid analysts
amertek inc atekf 1st qtr net
canrad cnrd acquires measurement systems
in unadjusted terms unemployment fell by around 30000 last month to 270 mln
a western banker said chinas portfolio contains too much short term debt and too much of it is denominated in yen as a result of aggressive lending by japanese banks and attractive low interest rates in the japanese market
peru decrees firms should buy treasury bonds 
unlike amro algemene bank nederland nv abn says this is a price the dutch have to pay
portugal grain agency barred from import tenders
the issue will be priced at par with a one pct coupon and each 10000 franc bond will carry 18 warrants each giving the right to subscribe to moet hennessy shares over a three year period at 2720 francs each
net proceeds will be used to repay amounts outstanding under the companys bank credit line and for working capital the company also said
the west german federal state of north rhine westphalia will issue a domestic mark bond this afternoon a syndicate manager for the westdeutsche landesbank girozentrale westlb said
shr 15 cts vs 14 cts net 2547000 vs 2242000 revs 567 mln vs 440 mln avg shrs 176 mln vs 156 mln nine mths shr 54 cts vs 54 cts net 9249000 vs 8334000 revs 1733 mln vs 1343 mln avg shrs 171 mln vs 155 mln
properties to be evaluated are located in california colorado kansas oklahoma mississippi montana north dakota texas utah and wyoming along with federal outer continental shelf leases offshore southern california and in the gulf of mexico chevron said
the agreement covered a second phase of multi year refinancing of yugoslavias debt based on a protocol signed in may last year which provided for the enhanced monitoring of economic trends in yugoslavia by international monetary fund
president reagan said the 11 pct us economic growth rate during the final quarter of 1986 wasnt all that bad the commerce department said the rate of growth of the gross national product in the october december period was only slightly less than a preliminary estimate of 13 pct made earlier
allied bancshares inc albno 3rd qtr loss
in rejecting the takeover proposal by the us subsidiary of swiss based ciba geigy ag the company said it was unfair
the texas commerce chemical merger is the only acquisition by a major out of state bank since texas lawmakers approved interstate banking effective january 1
the settlement is contingent on court approval after notice to class members it said
goldman sachs and co acting as lead manager said it is offering 100 mln dlrs of deposit notes due 1992 that it purchased from bank of virginia co a unit of signet banking corp
the cut will more than double the number of corporations able to make non collateral issues from around 70 for straight bonds and 180 for convertibles now securities managers said
the proposals involve introducing a set of interest margins on ecgd backed debt of 5 16 to 7 8 pct depending on the size and maturity of the credit and the currency
bank indonesias quoted rate for the dollar the main currency for indonesias oil and gas exports was 16440 today the same rate fixed at the time of devaluation
lomas and nettleton financial corp said it has agreed in principle to acquire houston discount brokerage firm texas first brokerage services inc for undisclosed terms subject to regulatory approvals
national semiconductor nsm cites improved results
peres said brazil had enough orange juice to meet the needs of its major clients
cash in portfolios usually means short treasury bills which can be readily sold to allow rapid investment shifts
wilson estimated the deficit will fall to 293 billion dlrs in the year ending march 31 1988 the same level as he forecast in the february budget
munro said book publishing is an area that interested time
the amnesty provision specially designed for farm workers was crucial to passage of the overall immigration bill
he said the bank was likely to aim at cds with a three month maturity at first as the market was best developed for paper of that maturity
buffton corp said it will conduct an investigation on a plant designated as a superfund site which will result in a charge of about six cts per share in its second quarter
twa offered to buy usair for 52 dlrs cash per share
exxons policy of repurchasing shares on the market for its treasury also contributed to earnings results by a reduction of shares to 7226 mln shares from 7541 mln shares the previous year
banking sources said anzola differed with the finance ministry over economic policy particularly over the direction of interest rates
thomas lau evergos executive director declined comment on whether the group is seeking a further stake in hk hotels
us exporters report 125000 tonnes of corn sold to ussr for 1987 88
financial corp of santa barbara said its santa barbara savings and loan association subsidiary is offering 25 mln dlrs of convertible subordinated debentures due 2012
he did not provide details
the issue was increased from an initial offering of 100 mln dlrs
moodys pointed out the purchase of amc would undercut some of the recent progress chrysler has made in improving its financial condition and cost structure
icn mark eurobond issue now uncertain
it also has tax credits worth about 25 billion dlrs
kraft inc kra 3rd qtr sept 26 net
he reiterated that amoco planned virtually no layoffs of dome employees
hoechst ag hfagf said in a statement it increased its pretax profits in 1986 despite a fall in turnover due to lower foreign sales
a county natwest official said the facility launched earlier this week seemed to be progressing well in syndication
non callable to maturity the issue is rated a 3 by moodys investors and a minus by standard and poors
the smelter also produced cadmium bismuth and indium
he told in an interview that csbcs first joint production venture to build two hulls for onomichi dockyard co ltd was a success
this means foreign bankers cannot easily switch their credit lines from one borrower to another
we want to insure that countries receive export quotas based on their ability to supply the market instead of their political influence in the ico brazilian coffee institute ibc president jorio dauster countered negotiations failed because consumers tried to dictate quotas not negotiate them previously quotas were determined by historical amounts exported which gave brazil a 30 pct share of a global market of about 58 mln 60 kilo bags
liftings from the gulf to eastern options fell to 415 mln tons from 594 mln and those from the gulf to other areas dropped to 12 mln tons from 213 mln howard houlder said
holders of convertible subordinated debentures of harcourt brace jovanovich inc threatened to sue the company if they do not get more information about how their investment will be affected by the companys proposed recapitalization plan
mthly div 61 cts vs 61 cts prior pay march 31 record march 16 note franklin ohio insured tax free income fund
outstanding bank debt of 117 mln dlrs plus an additional 300000 dlrs in borrowings for working capital has been financed with republicbank in dallas
the experts recommended the campaign be funded mostly by the governments of the five nations with help from the fao
this is 222 to 234 pct below the 124 mln to 126 mln tonnes estimated by private sources for the 1985 86 crop and 219 to 258 pct down on the official figure of 128 mln tonnes
shr diluted 31 cts vs 60 cts net 3276776 vs 6846367 revs 1877 mln vs 1813 mln nine mths shr diluted 52 cts vs 151 dlrs net 5301876 vs 164 mln revs 5357 mln vs 5130 mln
the cable and wireless plc group now holds some 70 pct of hk telephone
shr loss 161 dlrs vs loss 47 cts net loss 192 mln vs loss 5716000 revs 464 mln vs 110 mln year shr loss 201 dlrs vs loss 29 cts net loss 245 mln vs loss 3548000 revs 1502 mln vs 244 mln note 1985 net includes tax credits of 7336000 dlrs in quarter and 102 mln dlrs in year
the selling concession is one pct while management and underwriting combined pays 1 2 pct
data card datc sees lower yearend results
us farm loan secondary market gains support
progressive savings prsl 4th qtr loss
in its release yesterday s and p cited what it termed an outstanding record of sales and earnings growth by hechinger
escagen corp esn completes initial offering
its now basically the usda who has to make their decisions as to what they want to do the official said
shr 277p vs 207p div 60p vs 55p making 100p vs 925p turnover 134 billion stg vs 129 billion pretax profit 480 mln vs 324 mln tax 144 mln vs 69 mln company name is bowater industries plc bwtrl trading profit 634 mln vs 451 mln trading profit includes packaging and associated products 232 mln vs 142 mln merchanting and services 184 mln vs 96 mln tissue and timber products 90 mln vs 58 mln interest debit 154 mln vs 127 mln minority interests 70 mln debit vs 62 mln debit extraordinary items 154 mln credit vs 119 mln debit
the bottom for yen bonds should be around a 63 pct yield for the 51 pct 89th bond they said
morgan guaranty joins dealers for bsaf program
precambrian which is 89 pct owned by mark resources inc said it took the writedown in accordance with new canadian insititute of chartered accountants guidelines for full cost method accounting by oil and gas companies
the german dealer saw the dollar gradually appreciating to 187 marks broadly seen as its upper limit within the louvre accords supposed currency target range
firm has supreme equipment seqpo stake
japan us will be at odds while trade lopsided
april exports totalled 702 mln dlrs compared with imports of 108 billion
baldrige says us to go ahead with japanese sanctions
german call money was slightly softer today at around 370 pct after 380 yesterday
renault president raymond levy said in a statement issued by the french state car group the agreement was an important stage in renaults redeployment
only banks may be commissioned to handle the clerical business of principle payments they added
however dome said its management and financial advisers would evaluate all proposals including transcanadas
he said the treasury expected a current account balance of payments deficit in 1987 of 25 billion stg after a 11 billion shortfall in 1986
rochester gas and electric corp rgs in payout
latin coffee meeting to be held in managua
universal resources corp said it is holding a special shareholders meeting this morning to vote on the previously proposed merger between it and questar corp str universal whose stock was delayed this morning on the american stock exchange said it will release a statement later in the day on the vote
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
the company said the first quarter will be adversely affected by the consolidation effort
southwest said it will issue 11 shares of its no par value common stock in exchange for each preferred share
however in the face of sterlings apparently inexorable climb the authorities today decided to cede to pressure and allow a half point cut
they said the bank of thailands repurchase window yesterday received offers of about three billion baht of investment funds from commercial banks three times its normal daily amount
instinet inet sets meeting on merger
sam gibbons said the agencies analyses seemed to agree with his opinion against congressional approval of protectionist textile quota legislation aimed mainly at western europe japan and other asian textile producing countries
usda reduced the price of hard red winter wheat at kansas city and texas by six cents at minneapolis and duluth by 32 cents and at st louis by nine cents ralph klopfenstein deputy administrator of commodity operations at the agricultural stabilization and conservation service said
industry sources said zccms projected pre tax profit for the financial year ended march 31 would be around 500 mln kwacha
after a 90 day waiting period the bonds flow back to japan where investor appetite is strong he added
brazil suspended interest payments on 68 billion dlrs of its 109 billion dlr foreign debt in february citing a drop in official reserves and said interest payments would be held on deposit at the central bank pending a rescheduling
market sources said the deal is likely to be swapped into yen as the borrowers previous issues were
it extends until january 1993 the administrations authority to negotiate trade agreements as part of the new round of multilateral talks under the general agreements on tariffs and trade
intercare also said it has implemented a workforce reduction closed two medical centers and is considering additional closings as a means of reducing a working capital deficit
the first is likely to be for cie generale des etablissements michelin possibly led by credit lyonnais
us sales of foreign securities rose to 27 billion dlrs from 300 mln dlrs in the third quarter because of a sharp selloff of foreign stocks and bonds the department said
bank of japan satisfied with yen around current range senior bank official says
babcock international plc babkl year 1986
eqk green acres lp ega raises quarterly
the company said about 350 jobs will be affected in columbia most of which are now performed by contract workers and about 225 jobs at its tennessee eastman co plant in kingsport tenn
shr loss 10 cts vs loss 13 cts net loss 197779 vs loss 245190 revs 40 mln vs 31 mln
canton telephone serves about 2900 access lines in northwestern pennsylvania and had 1986 operating revenues of about 1300000 dlrs rochester telephone said
the company said the slower than expected removal of the fuel which has been primarily due to the water clarity problems is now expected to extend fuel removal into 1988
fees comprise 3 4 pct selling concession and 1 2 pct for management and underwriting
the bond is available in denominations of two mln lire and will be listed in london
pretax net profits 3052000 dlrs vs 4498000 dlrs in quarter and loss 572000 dlrs vs profit 2922000 dlrs in year
programmes had to be developed which would strengthen the economic position of these countries to ensure world economic growth so they are able to sell their products at adequate prices
the confrontation was the latest result of the long and bitter conflict between sri lankas buddhist sinhalese majority and the hindu tamil minority which has strong ethnic and cultural links with indias 50 mln tamils
it said closing is subject to regulatory approval
the group has expanded rapidly in the past year through the 6725 mln stg acquisition of exco international plc and 90 mln bid for steel brothers holdings plc it noted that its operations were now divided between financial services including money broking investment management and forfaiting and more traditional areas such as aviation hotels commodity trading and office equipment
the name was changed to k mart in 1977 stevenson said
nuclear metals nucm has delay in orders
it features a swap agreement but a mitsubishi bank spokesman declined to give further details
uniforce temporary personnel inc said it declared a three for two stock split payable may 15 to stockholders of record april 14
the bank of england said it gave the money market a further 191 mln stg assistance in the afternoon session
favourable tax treatment gone on certain uk loans
colombia buys 25000 tonnes french wheat trade
shr 36 cts vs 37 cts net 2751000 vs 2179000 qtly div 40 cts vs 40 cts prior avg shrs 7699241 vs 5943341 note dividend payable april 10 to shareholders of record march 30
wilson was responding to opposition party questions about a possible loss of jobs from the rise in canadian investment abroad
agreement on the latest loan was reached in principle last september when president corazon aquino visited the us the sources said the loan was held up because of delays by the government in submitting essential documents
on the last day of 1986 uccel completed the buyouts of six companies for a total of about 60 mln dlrs
the times of zambia quoted unnamed sources as saying zambia exported 100000 tonnes of copper through dar es salaam and 17000 through beira in the last quarter of 1986
since 1986 us oil production has fallen while consumption rose and that has raised dependence on imported oil particularly from opec dibona said
sen
this takes the banks total help so far today to 508 mln stg and compares with its revised estimate of a 900 mln stg shortage in the system which it earlier revised up from 850 mln
team inc tmi 3rd qtr feb 28 net
sterling inc strl 4th qtr jan 31 net
victory markets inc said it filed a registration statement with the securities and exchange commission relating to the proposed public offering of 60 mln dlrs principal amounbt of subordinated debentures due 1999
this rules out any possibilty of the fed tightening for exchange related purposes in march the average workweek fell back to its january level of 348 hours from 350 hours in february
the company said michel billard has been named chairman and robert berckmans has been named president and chief executive and berckmans and two others have joined the board
rvial to union carbide emerges in french bid
the chairman of the senate antitrust subcommittee said the transportation department was allowing too many airline mergers and proposed its authority be transfered to the justice department
the idea of the exit bond is that a creditor bank may exchange up to five mln dlrs of existing debt for a new tradeable bond that bears below market interest rates
a key part of the proposal gave the world bank a much greater role in dealing with the debt crisis in part because of its familiarity with developing countries and their problems
this is up from 131000 tonnes in 1986 partly because of the end of a three year drought in sabah the countrys largest cocoa growing area
the officials looking beneath the rhetoric of statements by the group of five g 5 industrial nations told the currency movements of the past two years are also creating a fundamentally new world trade picture which is throwing up new trade tensions and imbalances
the warrants entitle holders to subscribe for a maximum of 10 mln free shares
the ussr has purchased 2825600 tonnes of us corn as of april 2 for delivery in the fourth year of the us ussr grain agreement
it seems the subversion wants to end with our oil bonanza he told reporters
last year japan racked up a 36 billion dlr trade surplus with the united states in these products
it said talks are in progress with united western with regard to the repayment terms of the loan
talking point dome petroleum dmp 
usda proposes name changes in beef grade
thus citicorps bargaining position would appear to have been much enhanced
next weeks revision to fourth quarter us gross national product is also likely to be of little interest to the market said kleinwort benson chief financial economist sam kahan
it is clear that astra has a tradition in anti viral research which should prove valuable in fighting this disease the report by enskilda the investment banking unit of skandinaviska enskilda banken sebsst said
i cannot give you any forecasts in response to the future about the agreement i do not want to speculate on what will happen after sept 30 1988 he said
the eight year loan features a call option after four years at 102 falling to 101 1 2 after five years and by half a point each year thereafter
he added that in light of the declining demand for steel capacities had to be adjusted saying the bonn government would not successfully be able to stand in the way of any change in this industry
required reserves did indeed rise sharply by 25 billion dlrs a day in the two weeks ended wednesday but economists said the fed may not have believed in the magnitude of the projected m 1 surge until late in the week and so started to add reserves too late
shr loss 21 cts vs loss 29 cts net loss 1246000 vs loss 1420000 revs 2120000 vs 1186000 avg shrs 5853587 vs 4880427 year shr loss 85 cts vs loss 121 dlrs net loss 4968000 vs loss 5274000 revs 6536000 vs 5056000 avg shrs 5854543 vs 4367864
the french cereals intervention board onic left its estimate of french 1986 87 july june soft wheat deliveries unchanged from its last forecast at 2198 mln tonnes
the finance ministry said today that the trade surplus soared to 814 billion dlrs in february from 57 billion in january and 477 billion a year ago
moodys said the lower ratings anticipate certain debt reduction in the coming year from the sale of assets
the bonds were issued at a price of 96 16 32 stg pct partly paid as to 40 stg pct on application although the government broker this morning sold them at a premium of one stg pct over the partly paid issue price
the hughes board last week indicated that it might cancel the merger because of the department of justice requirement
the international coffee organization ico executive board meeting scheduled for the end of this month has been delayed by one day and will now run from march 31 to april 2 and not march 30 to april 1 ico officials said
the one bancorp tone 1st qtr net
the french treasury will issue between eight and 12 billion francs worth of tap stock depending on market conditions at its next monthly tender on thursday banking sources said
but since april statistics clearly show that the economy finds itself on a course of growth he said
marcus corp mrcs 3rd qtr feb five net
the rating agency noted that nomura securities has by far the largest capital base in nominal terms of any securities firm in the world and is conservatively leveraged
a japanese refiner said the european and us markets are beginning to look better so opec might be quite lucky
governments of major asian producing countries have welcomed the conclusion of a new international natural rubber agreement inra but growers and traders are unhappy with the development according to views polled by correspondents
if this pattern continues then oil companies will bid up the price of oil as they purchase for their refineries trading managers at several companies told 
twa said however it also would be interested in discussing a three way deal among usair piedmont and twa
the acqustion is accounted for as a purchase and consolidated statements include westerns results of operations from july one 1986
alza corp issues 75 mln dlr convertible bond
what will come out of it remains for the negotiators in the first instance to propose and then governments and congresses will have judge he said
last years output was 124 mln bushels down from 127 mln in 1985
kiena plans two for one stock split
quixote corp said dainippon ink and chemicals inc of japan will buy 526315 shares of quixote common stock a 67 pct stake for 10 mln dlrs or 19 dlrs a share
rpc energy services inc res 1st qtr sept 30
analysts said comments by the company at an analysts meeting tuesday helped fuel the rumors as did an announcement yesterday of management changes
it was followed by a similar move by chase manhattan some days later
onic said the drop in french exports to other community countries was due to british competition
brusca of nikko agreed that the fed probably is aiming for two week average discount window borrowings of around 300 mln dlrs
allwaste alws to buy related company
together with other one off charges alusuisse took an gross extraordinary charge in 1986 of 698 mln francs up from 472 mln in 1985
chemlawn also said it began litigation against waste management in federal court in columbus seeking injunctive and other relief
novar electronics corp novr 4th qtr jan three
between 1982 and 1985 riyad bank ncbs rival as the second biggest of the two all saudi shareholding banks had covered 128 pct of its loans and advances
studies concerning the possibility of widening the gaillard cut would not be affected by the landslide he said adding that he expected the canal board to determine whether and when the canal needed widening by january 1988 at the latest
the measures are also aimed at cooling an overheated economy and could help dampen hungarians appetite for imported western goods which consume increasingly expensive hard currency the diplomats said
knight ridder inc kri said its tkr cable co joint venture with tele communications inc has signed a letter of intent to acquire cable television systems with 55000 basic subscribers in wildwood nj and ramapo and warwick ny from tele communications for undisclosed terms
scimed smls being sued for patent infringement
glenn english d okla requiring the secretary of agriculture to begin discussions with other major grain producing countries aimed at jointly reducing world grain production
ministers from the group of 24 developing coutries said that the debt crisis was entering a new and dangerous phase and called for the formation of a ministerial committee to examine solutions to the problem
ec and comecon ends talks with progress
soybean sales of 483100 tonnes were 11 pct above the prior week and two thirds above the four week average
anybody looking for a dividend increase has been dissapointed by the announcement luftig said
kasgeldleningen or short term advances are a widely used instrument in the dutch market which has faced competition from cps since the finance ministry approved them in january 1986
shr 14 cts vs 10 cts net 741000 vs 510000 revs 5980000 vs 4836000 six mths shr 29 cts vs 20 cts net 1556000 vs 1080000 revs 122 mln vs 9214000
toshiba corp tsbat year ended march 31
brazil is the worlds largest coffee producer and exporter
mthly div 2108 cts vs 2158 cts prior pay march 26 record march 16
the new head of the bank barber conable has said this issue is being reviewed and will be part of a reorganization plan for the bank now being prepared
but sentiment now looks to have turned about again
qtly dividend six cts vs six cts pay april 15 record march 31
kraft inc said it has completed the previously announced acquisition of the anderson clayton foods division from quaker oats co for 235 mln dlrs in cash
larry feinberg an analyst with dean witter reynolds inc said a management led leveraged buyout cannot be ruled out
qtr ended jan 31 shr loss seven cts vs loss 64 cts net loss 367000 vs loss 3009000 revs 2516000 vs 8787000 nine mths shr loss 73 cts vs loss 117 dlrs net loss 3545000 vs loss 4573000 revs 6768000 vs 133 mln
angeles corp ang is general partner of energy development
japanese crushers bought 2000 tonnes of canadian rapeseed in export business overnight for may shipment trade sources said
it said in its latest quarterly review that real gross domestic product averaged an annual growth of 11 pct over the first nine months of last year compared with a decline of 01 pct in the corresponding period in 1985
uganda mozambique win debt rescheduling accord
however the company indicated in a statement that it was closely evaluating the telecommunications and federal systems units
production is targetted to increase 44 pct for all of 1987
the company said specific details relating to purchase price and other terms will be released on closing of the transaction expected by may 15
capital food provides food services to several ottawa institutions the company said
the house ways and means trade subcommittee postponed until next week its opening session to start drafting major changes to us trade laws a committee aide said
he said the most significant sign of recovery lay in the manufacturing sector which grew by 964 pct after declines in 1985 and a slow turnaround in the second half of 1986
irna monitored in nicosia quoted oil minister gholamreza aqazadeh as saying on his return to tehran from moscow that the agreement was part of a protocol on economic cooperation signed during his visit
shr 95 cts vs 30 cts net 9139000 vs 2894000 revs 1356 mln vs 1185 mln nine mths shr 281 dlrs vs 195 dlrs net 270 mln vs 188 mln revs 4065 mln vs 3728 mln
the discriminatory tax treatment should be done away with and equal facilities be provided to the two sectors to mobilise resources from the market which is common to both goenka said
the last formal talks were on june 5
south korea to keep trade surplus 3 5 years
the other two saw only one pct growth and said exports would fall 25 pct
union bank of finland issues euroyen bond
it has received 107 billion dlrs from the world bank since 1968
ivory coast confirms presence at cocoa talks
thirty years ago in 1956 the situation was different
shr eight cts vs six cts net 22 mln vs 18 mln revs 994 mln vs 910 mln nine mths shr 19 cts vs 20 cts net 55 mln vs 54 mln revs 29 billion vs 27 billion note 1987 3rd qtr and nine mths include pre tax gains of from antitrust settlement of 2000000 dlrs and 6000000 dlrs respectively
mcdonnell douglas corp said it acquired frampton computer services ltd a british software company that is also known as isis
besides stock prices they were manufacturers new orders for consumer goods and materials average work week and building permits
bank of new york bk to have gain on unit sale
integrated resources inc said it filed with the securities and exchange commission a registration statement covering 150 mln dlrs of senior notes
pioneer group unit gets more ghana gold land
bentsen predicted congress and the white house would agree on a fiscal 1988 budget that would raise between 18 and 22 billion dlrs in new revenues
the company declined to comment beyond this statement
brazils funaro heavily criticized the panels in london on monday charging that they are unresponsive to new ideas and that us banks are over represented on them
he said the seamen had not received a pay increase since february 1986 and prices have doubled since then with the collapse of the governments cruzado plan price freeze
the officials also had a blunt warning for those banks that refuse to participate in the loan package do not expect to get much business with mexico in the future
many analysts and currency dealers have forecast a full one point cut tomorrow
the idea of rating in japan has been woven into prerequisites for an issuer company to satisfy financial criteria jcras watanabe said
next industrial transaction in may is syndication of a 35 mln us dlr loan to the shanghai ta chun tyre project
so the december report was more bearish than initially indicated
circuit city stores inc cc sets quarterly
in a filing with the securities and exchange commission metropolitan said it bought the metex stock as an investment
swedish current account deficit rises in january
the type and grade quantity sold average prices in rupees per 50 kilos exclusive of sales tax with previous prices at the march 11 auction in brackets 1986 87 crop plantation a 5922 128450 122350 plantation b 741 109550 112200 plantation c 2082 101900 101750 arabica cherry ab 333 97650 na arabica cherry pb 225 94900 na arabica cherry c 582 88950 na robusta cherry ab 909 125600 na robusta cherry pb 438 103950 na robusta pmt ab 492 125550 na robusta pmt pb 135 120000 na rep bulk a 939 105750 90850 rep bulk b 2565 107900 93000 robusta cherry bulk 402 108250 na robusta cherry c 90 99700 na robusta cherry bbb 96 70000 na 1985 86 crop arabica cherry ab 1233 96100 95150 arabica cherry bbb 1608 63550 61350 robusta cherry bbb 42 73500 70450 monsooned coffee monsooned robusta aa 237 126550 na
no comparable bills have been offered recently
by 1995 non socialist world primary capacity will need to be around 18 mln tonnes whereas on current plans only 15 mln tonnes are scheduled bird said
but some cocoa market watchers said the buffer stock may benefit from recent forecasts for a poor brazilian bahia temporao crop at 15 mln to two mln 60 kilo bags against initial expectations of up to three mln
bkla bancorp dec 31 year net
supply from non opec countries totalled 28 mln bpd against 285 mln bpd in the fourth quarter 1986
japan is seeking to prevent its computer chips dispute with the us from erupting into a full scale trade war government officials said
a bonus of 4325 dlrs per tonne was awarded to cam usa inc on the shipment scheduled for june 20 30 melvin sims usda general sales manager said
hutton said as of 2400 edt yesterday about 181000 shares of purolator common stock or about 24 pct of the outstanding shares had been validly tendered and not withdrawn
according to entertainment its company and its chairman own about 43 pct of crazy eddies currently outstanding shares
proceeds will be used to reduce borrowings and other general purposes
economic spotlight saudi arabia reshapes economy
senates proxmire urges curbs on takeovers
there were some enquiries on the britannia from coin dealers today but value added tax would prove a major factor in the success of the coin with the 15 pct tax likely to put off many investors traders said
the bank of england said it had provided the money market with 345 mln stg help in the morning session
the offering and withdrawal rights expire april 29 unless extended
shr 43 cts vs 37 cts net 2276000 vs 1674000 sales 319 mln vs 239 mln avg shrs 53 mln vs 45 mln year shr 90 cts vs 69 cts net 4508000 vs 3096000 sales 984 mln vs 750 mln avg shrs 50 mln vs 45 mln
last week a wide sell off of dollar and sterling boosted demand for mark and guilder paper
only if brazil has access to new loans can it grow export and pay its debts over the longer term
it said the kwik save purchase will also be financed with a loan from the hongkong and shanghai banking corp hkbhhk it did not give the size of the loan but it said it would raise its net bank borrowings to a maximum of 22 billion hk dlrs
recent official arrivals figures have been swollen by the inclusion of beans which had been delivered previously to port warehouses but not declared
shr 138 dlrs vs 124 dlrs net 213000000 vs 195000000 revs 337 billion vs 312 billion avg shrs 153000000 vs 156000000 year shr 244 dlrs vs 220 dlrs net 381000000 vs 347000000 revs 1038 billion vs 954 billion avg shrs 154800000 vs 156000000 note 1985 period ended feb 1 1986 share data restated for common stock split of july 21 1986 1986 and 1985 earnings reflect a charge of one ct a share resulting from use of the lfio method of inventory valuation 4th qtr 1986 earnings include pretax capital gain of 712 mln dlrs or 30 cts a share from sale of joseph horne co division in pittsburgh note 4th qtr 1986 earnings include a 62 mln dlr or 20 cts a share pretax charge for costs associated with combining may d and f and the denver operating divisions 4th qtr 1986 earnings include a pretax charge of 26 mln dlrs or nine cts a share for costs associated with several debt repurchase transactions including retirement of 10 mln dlrs of 11 7 8 pct debentures
fernandez said the government had targeted gnp growth of between six and 65 pct this year
but i think they are very satisfied with the present level but i have made it absolutely clear that i dont want to see the pound go through the roof he added
despite the success of the talks over the past two days govenment sources said there had not been any discussions on new credits
a period of consolidation might be necessary before prices attempted to move significantly higherit said but so long as the dollar remains under pressure then the outlook for silver was positive
cannon group inc said it agreed in principle to sell its 50 pct interest in the hbo cannon video joint venture to the home box office unit of time inc tl the company said it is making the sale because in the near future all of its video products will be licensed in the united states and canada to either the warner brothers unit of warner communications inc wci or to media home entertainment
it applies until july 1 to uranium ore and oxide imported into the us for processing and re export to third countries
vms strategic land trust vlans sets payout
next week mississippi alton granite city mla if p o bid five points higher at 175 pct offered at 190
under the restructuring plan allis chalmers will sell its solid materials processing and fluids handling businesses
im among those who believe the g 6 have a plan behind the scenes horner said
pagurian corp ltd year net
the debentures are convertible into the companys common stock at 2761 dlrs per share representing a premium of 255 pct over the stock price when terms on the debt were set
the minerals systems business has operations in west allis wis and lachine quebec canada
two warrants are required to allow the holder to buy 100 grammes of gold at a price of 2450 francs during the entire life of the bond
the chandler partner said that this type of deal gives the borrower funds that are less costly than if it had done an issue in the us domestic market
in particular the stability sought by the nations would allow west germany and japan to stimulate their economies domestically and the us to cut its budget deficit mulford said in his testimony
but economists said that seasonal factors make it hard to assess what spur to the economy if any will come from housing in coming months
alleghney international inc said the plaintiffs in the existing lawsuits opposing its sale requested an amendment to their complaint to include a class action count
it has been stressed to mr akiman that the decision where or how to drill belongs exclusively to the greek government the greek government has repeatedly let the turkish side know that it considers the 1976 berne protocol as inactive through the fault of turkey it said
an internal report produced by the belgian national bank foresees the countrys gross national product growth falling in 1987 to 10 pct from 23 pct in 1986 the independent newspaper le soir said
kyushu electric to issue 20 billion yen bond
the bank of nova scotia nassau branch is issuing a 50 mln new zealand dlr eurobond due april 14 1989 carrying a 18 1 4 pct coupon and priced at 101 pct lead manager morgan stanley international said
du pont dd ups stake in perceptive systems
on the same day cpc announced it had agreed in principle to sell its european business to ferruzzi in a 630 mln dlr deal
callebaut said yesterday that amylum was surprised and disappointed that its 675 mln dlr bid cash offer for cpcs european business was apparently rejected in favour of ferruzzis lower bid
dupont dd up on recommendations
washington said the platforms were used to monitor shipping and to launch small boat attacks on shipping
government economists forecast that the external current account deficit will fall to 19 billion crowns this year
the upbeat report comes in the wake of grim march trade balance figures which showed a deficit in industrial trade for the first time since june 1982
france voiced its comprehension for a us attack on an iranian target while calling for a swift halt to the gulf war to avoid further escalation
one veteran debt rescheduler said volcker together with the bank of england deserves credit for keeping the banking system intact after mexicos default
a serious disruption in copper movement to the markets could be brought about as it would pile up at the two ports which lack the facilities and space to handle the copper tonnage he added
in 1982 it posted a profit of 329 mln
the spokesman said korean trade minister rha woong baes stand in washington yesterday against pressure from industrial nations to revalue the won underlined the governments determination to stand firm
analysts agreed with cme floor traders and called the belly figure neutral to slightly negative
under the previous agreement between chrysler and renault their letter of intent would be terminated on april nine or when an agreement was reached
the company also said it is holding talks with its bank creditors and expects a restructuring agreement soon
the 18 month oil financing facility which was signed last october 28 is one of the few purely voluntary credits for a latin american nation since the regions debt crisis erupted in august 1982
the charges made in the shareholder suits are widely believed to have led to last summers resignation of chairman and chief executive officer robert buckley
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
previously the 13 16 pct margin granted to mexico was seen by debtors as the margin to strive for
but there may be shareholder lawsuits for the same reason they said
belgium placing 100 mln swiss franc notes
but the withdrawal from nontraditional businesses is weakening consolidated leverage narrowing funding operations and depressing the quality of earnings moodys stressed
renison goldfields consolidated ltd rgfjs rgc and explorer city resources ltd have agreed in principle on a joint venture to re examine the bulolo alluvial gold field in papua new guinea city resources said
part of this rise in market rates has been caused by fears of a tighter federal reserve policy to defend the dollar but economists said it is too early to tell whether the fed whose policy making federal open market committee fomc meets this week is already tightening its grip on credit
brazil and its bank advisory committee agreed to transmit a request for an extension of short term credit lines totalling 16 billion dlrs for 60 days until may 31 brazilian central bank president francisco gros said
the second party anticipates executing a letter of intent when it delivers its financing commitment to the pay n pak board that would incorporate an expense reinbursement and option arrangement the company said
pioneer group piog unit gets more land
international agreements exist for sugar and wheat
the bills replace maturing paper worth 23442 billion lire of which 20322 was held by operators
the finance ministry later approved the arrangement
the psd administration was the 16th formed since the 1974 revolution
kapok corp kpk cures technical defaults
evergo may want to split up the hotel management and property developments of hk hotels but that strategy may not fit the conservative kadoorie family said an analyst who asked not to be named
thus there is a good chance that we will attain our 1987 earnings goal although not in the way originally planned columbia gas said
unadjusted merchandise figures show a surplus of 53 mln dlrs vs 141 mln revised from 203 mln surplus in december 1986 and a 323 mln deficit a year earlier
overall centel has nearly 495000 customers in seven states
the us charges that the europeans are violating rules laid down in the 1979 agreement on trade in civil aircraft
selling pressure was strong from securities houses and institutional investors in hectic and nervous trading on underlying bearish sentiment for the dollar they said
outboard marine corps top executives are making sales presentations to portfolio managers and analysts ahead of a planned two mln share offering expected soon company officials said
reichold chemicals rci increases prices
the bond is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
the world bank and other independent sources have said inflation would be around 15 pct in 1986 87
1985 yr figures excludes 537950 dlrs or 42 cts per share representing insurance proceeds from a fire that occurrred in 1983
somphol kiatpaiboon director general of the commercial economics department said an absence of ico quotas would encourage producers to rapidly release coffee on to the market further depressing prices
finance minister domingo cordovez said two days ago the government seeks to postpone all the payments due to private foreign banks in 1987 until next year through negotiations with these creditors
but despite the sharp downturn on german bourses profits from trading on own account had increased in the first two 1987 months compared with the same year ago period
finance director david ewart told the news conference the performance of the group so far in 1987 was within reasonable touch of the budget lord catto also said the group was actively seeking a new chief executive to replace sir peter carey who is acting as interim director after reeves resignation and hopes to have a new chief executive within a few months
the treasury accepted 66 billion dlrs including 18 billion dlrs from the fed and 12 billion dlrs from foreign and international authorities
the sec currently has about 2000 employees most of them lawyers and an annual budget of about 115 mln dlrs though that figure likely will be significantly higher next year as the agency moves to beef up its enforcement staff
wall street stocks us oil companies
currently the united states requires a 35 cent per gallon tariff on orange juice imports vastagh said
realistically there is in fact no persuasive reason why the german currency is quoted almost 20 pct lower than the swiss a national bank spokesman said the relation of the mark and swiss franc was an example of stable currency parities over a long period of time
fees comprise 1 1 2 pct selling concession and 1 2 pct each for management and underwriting
the fire was put out with salt water and water from the no4 hold has spread over most of the cargo
canada had a trade surplus of 125 billion dlrs in february compared with an upward revised 623 mln dlrs surplus in january statistics canada said
economists said that a build up in auto inventories resulting from a steep drop in sales has finally caught up with the labor force and may point to slower growth ahead
it said malaysias international terms of trade will turn around to rise by two pct in 1987 after declining 12 pct in 1986 and five pct in 1985
roasters are said to be well covered and are not expected to enter the market for larger purchases in the near term
note the company this year consolidated wholesale and investment conglomerate ahlsell ab
dale burdett inc faces damage claim
it also offered to buy the company for 52 dlrs a share cash or 14 billion dlrs
in the month of may brooklyn union paid about two dlrs per mln british thermal unit for spot gas while contract gas costs four to five dlrs per mln btu industry sources said
belgium is minting an initial 50000 gold coins to celebrate the 30th anniversary of the european communitys founding treaty of rome but final production is expected to be around 200000
cadillac fairview said the offers are subject to clarification and negotiation and offered no further details
at the end of the talks he said brazil hinted it could sell more than anyone else and others would suffer
the peoples daily said last saturday a serious drought is affecting 133 mln hectares of arable land which will reduce the summer grain harvest from last years level
transamerica said the acquisition represents its first move into specialty treaty reinsurance
monetary sources said they believed that us treasury secretary james baker considered tokyos package announced yesterday to be a major stimulation of the japanese economy
they have some natural legitimate self interest in seeing that the program is preserved huckaby said
the eiu said it saw oil prices dropping to around 1650 dlrs a barrel by end 1987 and 1550 dlrs in 1988 from about 18 dlrs last year as adherence to opec output policy becomes increasingly ragged
continental bank of canada said shareholders approved a capital reorganization to allow an initial payout by the end of may to common shareholders from last years 200 mln canadian dlr sale of most continental assets to lloyds bank plc s lloyds bank canada
the balance will be paid in october
it said holders will receive accrued interest through the redemption date
the company said the losses result from its strategic decision to invest prudent levels of equity in development of products the company can manufacture and bring to market
however end investors were seen bargain hunting in expectation of a further yen interest rate decline dealers said
trintoc union carbide to build methanol plant
london metal exchange stocks fell to 193100 tons in december from 194400 tons in november
after trading late yesterday at 5 15 16 pct fed funds were indicated by brokers to open comfortably at 5 15 16 six pct
im just saying keep it competitive
phillips raises crude postings 50 cts effective today wti to 1750 dlrs bbl
machinea leaves for new york tomorrow with treasury secretary mario brodersohn to complete argentinas team at negotiations with the steering committee for a 215 biilion dlr loan to see the country through 1987
the ecs affairs in china are currently looked after by whichever country holds the groups six monthly rotating presidency now held by the belgians until the danes take over in july
the latest round of talks between philippine officials and the countrys commercial bank creditors on the rescheduling of 94 billion dlrs worth of debt are still proceeding but with a narrower focus philippine finance secretary jaime ongpin said
the pace of the probe picked up markedly in november after ivan boesky one of wall streets most successful stock speculators agreed to cooperate with government investigators and to pay a record 100 mln dlrs in penalties and illegal profits after being charged with insider trading
sosnoff reduces caesars world caw stake
k mart said its effective tax rate rose in 1986 to 446 pct from 376 pct in 1985
on exercise of the redemption right the investors would be entitled to repayment of the bond at a premium to par that would provide a total rate of return equal to the yield on the issue date of four or six year us treasury bonds
west german producer prices fell 03 pct in february from january and were 42 pct below prices in february last year the federal statistics office said
american express axp to discuss shearson deal
boxed in by powerful political pressure groups and widespread opposition to his tax reform plans nakasone will be hard pressed to come up with anything new to tell us president ronald reagan and key us congressmen they said
planned projects were further slowed down in 1986 because of the countrys budgetary problems he added
chemlawn chem has no comment on new offer
harris said the lpfa rule book allows the management committee to take steps as necessary to correct any malpractice and he assured the committee is monitoring the situation
today the world bank chief will visit bank funded projects in the eastern section of java indonesias most populous island
the ruf may serve as medium term back up to the commerical paper program although the two may be used simultaneously merrill said
but asarco inc ar with about 45 pct of total sales from copper and newmont mining corp nem are also potential winners they said
gencorps stock has traded well above the 100 dlr offer price since the tender was made
though the current semi annual council meeting is not the last chance for delegates to cement buffer stock rules producers are keen to get the wheels of the market stabilizing mechanism turning to stem the decline in world prices delegates said
boeing ba starts argosystems argio bid
energy factors efac to buy allied ald units
on wednesday sosnoff told the securities and exchange commission that he controls 136 pct of the companys stock
energy foreign investors
the paris accord has pretty much fixed where major european currencies will trade horner said
morgan also will offer 8960 mln dlrs of floating rate class j 2 bonds to be fully paid by 2013 priced at par to yield three month libor plus 045 pct
it was the first official iranian reaction to the attack by four us navy destroyers on the reshadat oil platform
its a totally different situation he said
gulf cash barge basis levels jumped two to three cents this morning on the rumors which were expected to boost futures prices on todays open
he said any amendment proposed would probably be designed to thwart a company from dismantling a company for its own profit
american software inc amswa 3rd qtr jan 31 net
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
cra ltd craas 1986 net
unilever australia ltd is issuing 40 mln australian dlrs of bonds due april 14 1990 carrying a coupon of 14 3 4 pct and priced at 101 1 2 said county natwest capital markets as lead manager
schlueter told journalists after the weekly cabinet meeting it is regrettable that they have taken a plus from us but the change will not have much practical significance he was echoing comments by central bank governor erik hoffmeyer who was quoted by the daily politiken as saying the downgrading would have little effect on denmarks borrowing capability or the interest it paid on loans
first american financial corp said its board declared a special dividend of 20 cts per share and the regular 25 ct quarterly dividend both payable april 15 to holders of record march 31
geodome resources ltd said based on a feasibility study of its sunbeam mine it will proceed with contruction and pre production stripping as rapidly as possible
davis mining revises offer for becor bcw 
this is entirely a private sector matter and not a matter for governments comment tamura said
the automaker will shut three plants each in its two groups the buick oldsmobile cadillac group and the chevrolet pontiac gm of canada group
the taiwan dollar which is pegged to the us dollar has risen about 15 pct since september 1985 while the korean won has risen about five pct
they said that while 86 billion of the 30 billion franc revenues expected for 1987 from a sweeping privatisation program will go to providing public companies with fresh capital 214 billion francs or two thirds will go toward paying off national debt
lucky stores inc said it and investor asher edelman agreed on a settlement that prohibits edelman and his group from taking specified actions to obtain control of the company and that limits the edelman groups ownership of luckys stock to less than five pct of any voting securities
montedison currently invests around 30 billion lire a year in biotechnology research and expects to increase this figure to around 50 billion lire in the next few years
some other economists foresee a gain as large as five pct
italian economic outlook less bright oecd says
the 93 level is formidable resistance and must be taken out before this activity is anything other than a trading range market carroll mcentee and mcginley futures debt analyst brian singer said
qtr ends jan 31 shr four cts vs 12 cts net 102508 vs 264910 revs 2278083 vs 2536312 nine mths shr 18 cts vs 15 cts net 489253 vs 404877 revs 6679745 vs 6613551 note excludes discontinued operations gain of 40519 dlrs in the third quarter fiscal 1986 and loss of 9666 dlrs in the nine months fiscal 1986
soybean acreage amounted to less than two mln acres of the non program crop acreage enrolled a usda analyst said
kaysersberg which was transformed from a division of beghin say into a fully fledged chemical subsidiary last year has been holding talks with other european companies on possible accords vernes said
state owned chemie linz ag is likely to record a 1986 loss of some 600 mln schillings compared with a 340 mln loss in 1985 a company spokesman said
they said the companies which approached the commission recently and which they did not name appeared to envisage a loss of productive capacity similar to that proposed in 1983
technical measures wont be enough to protect the ems against external factors such as dollar weakness
federal funds which averaged 633 pct yesterday opened at 6 3 4 pct and traded between there and 6 3 8 pct
qtrly div 415 cts vs 415 cts prior pay may one record april 6
the london metal exchanges lme decision to introduce a dollar denominated aluminium contract with the port of singapore listed as a delivery point is a positive move physical traders and lme dealers said
moderate to heavy rain continued over early double crop rice areas in eastern guangxi guanghdong eastern hunan jiangxi fujian and zhejiang in the week ended march 28 the joint agricultural weather facility of the us agriculture and commerce departments said
the alaskan villages of gambell and stebbins along with an organization of eskimo natives on the yukon delta argued that the drilling would hurt native hunting and fishing
the licence requests were for 35000 tonnes at between 143 and 145 european currency units ecus they said
the prior year earnings included a 2100000 dlr charge for the disposition of craft showcase stores
the issue will be immediately swapped into swiss francs putting actual interest rates at around four pct a tokyo government spokeswoman said
the agency said the dry weather had reduced the amount of water stored by more than 20 pct compared with last march lowered the water level of many rivers reduced hydroelectric power supplies and caused water shortages for industry and consumers
widespread lowland and small stream flooding is expected to continue over most of eastern nebraska through wednesday
it said first federal is located in kearn county northeast of los angeles and has assets of 130 mln dlrs
total gross official sales of gilt edged stock were 119 billion stg in 1985 86
amvestors financial corp avfc offering of 25 mln shares of common stock through smith barney harris upham and co inc and morgan keegan and co inc
thus it seems likely that the sterling contract will eventually lose trading interest and volumes will decline
the monetary authority of singapore mas had said it planned to launch trading by issuing taxable instruments grossing seven billion dlrs in the first year and a gross 38 billion dlrs of paper over the next five years
putting into effect any of the alternatives being explored could hurt or defeat the mark iv offer it said
if it stabilises firms will grow more confident and raise investment in plant and equipment although there are no signs of that yet economists said
japan and west germany today reiterated that neither planned further interest rate cuts despite pressure from the us to do so mackoff said
allegis aeg meets with united employees group
uk government bonds or gilts surged by more than 1 2 point on the better than expected news as earlier worries about the figures evaporated
china comes third with 58000 bpd
the company said it has agreed to sell the peter pan restaurant in urbana md for 1100000 dlrs or one mln dlrs after the payment of expenses
the investor group which includes barris industries brrso recently reported that it acquired a 98 pct stake of media generals class a shares and might seek control
this also confirmed provisional figures issued in february
atlantic to raise high sulphur fuel prices
witco named smith barney harris upham and co inc as lead manager and goldman sachs and co as co manager of the offering
japan asks traders exporters to cut dollar sales
factory and warehouse stocks continued 02 28 87 01 31 87 02 28 86 corn oils crude 325 323 r 442 refined 658 544 r 399 total 983 867 r 841 lard 314 315 r 364 r revised
participation certificates acquired with b warrants will be priced at 597 francs equalling the price of the first tranche plus a 10 pct premium
westfield will increase its stake in northern star to about 45 pct from 20 as a result
oper shr profit two cts vs loss 31 cts oper net 72000 vs loss 1130000 sales 7896000 vs 9333000 1st half oper shr profit 32 cts vs profit eight cts oper net profit 1187000 vs profit 299000 sales 213 mln vs 260 mln note current year net excludes tax credits of 54000 dlrs in quarter and 945000 dlrs in year
he said it is highly likely that the final study will show japan has the highest farm subsidies in the world
argentinas debt is latin americas third largest at 51 billion dlrs
the business comprised two 6000 tonne cargoes for march 15 april 15 shipments at 355 dlrs per tonne cif and 6000 tonnes for may at 358 dlrs
if this is the case the three month cd rate will stay above four pct for the time being he said
westinghouse electric wx optimistic for year
the total us market was estimated to be worth 840 mln dlrs in 1986 having grown by 47 pct in the previous five years coloroll said
german net currency reserves rise
entertainment makes buyout offer to crazy eddie
group shr 6544 yen vs 7330 net 448 billion vs 419 billion current 1085 billion vs 977 billion operating 965 billion vs 954 billion sales 10353 billion vs 9439 billion note company forecast for current year is group shr 7005 yen net 480 billion current 1120 billion and sales 113 billion
it said a preliminary survey showed the region could hold billions of barrels of oil and gas and that its potential as an energy resource would never be known without exploration
it said it considered the result satisfactory in view of these factors
in particular uncertainty about greenspans attitude to the dollar could undermine sentiment toward the us currency analysts said
gas reserves also eased to 3568 billion cubic feet from a restated 3660 billion
the monetary sources said the reorganization has caused some bad feelings and charges that promotions and other personnel actions have been based on personality rather than ability
i would concede that since the louvre accord we are acting as if we are in something leigh pemberton said
cuban sugar production in the third quarter of 1986 was 12000 tonnes giving a final 1985 86 crop total of 735 mln tonnes compared with a 1984 85 crop of 810 mln tonnes
they want to get the frills but if they are not big enough they dont get the frills the philippines on wednesday announced it wanted to renegotiate a debt restructuring accord it reached on march 27 with its 12 bank advisory committee saying it wanted the same terms as were granted to argentina earlier this week
farmers can place soybeans under the loan program if they sign up for reduced acreage but they have no price guarantees
hes a great man the official said adding that more and more people expect his reappointment
several hundred vessels have been confirmed hit in the gulf by iran and iraq since early 1984
coastal corp cgp and units upgraded by s p
shipowners have offered a 100 pct raise which the seamen rejected
bangor hydro electric co said the maine public utilities commission approved changes in rates effective today that will decrease revenues by about 412000 dlrs or 05 pct
the department said that energy prices again were the main reason with the index for intermediate energy up 27 pct
1986 net includes tax credits of 165000 dlrs in quarter and 189000 dlrs in year
the company will continue to be under the direction of martin woodhead who will report to henry hirschberg president of simon and schusters international group
the national association of wheat growers nawg board of directors is scheduled to meet secretary of state george schultz and undersecretary of state allen wallis to discuss the departments current role in farm trade policy the association said
handbook 8 10 is based to a certain extent on information that has been accumulated over the past 30 years
lsi logic corp said it intends to offer 100 mln dlrs of convertible subordinated debentures due 2002 outside the us through morgan stanley international and prudential bache capital funding
members of the security council met behind closed doors on monday to discuss developments in the gulf war but no statement was issued afterwards
indonesia the worlds second largest producer of palm oil after malaysia has been forced to import palm oil to ensure supplies during the moslem fasting month of ramadan
canbra said it set the special payout to allow shareholders to participate in the gain on the sale of unit stafford foods ltd in november 1986 as well as the companys unusually profitable performance in 1986
redoglia and ritterbusch said april heating oil could continue to rally above 53 cts a gallon while crude futures could test 19 dlrs a barrel before profit taking stunts the move higher
the initital dividend includes five cts attributable to the period between dec 23 and 31 1986 and 50 cts attributable to the first qtr of 1987 ending march 31 1987
the investor group also planned to invest 225 mln dlrs in a private placement of four mln non voting tecsyn common shares the company said
associates corp of north america 1st qtr net
hyperinflation has been curbed and public spending trimmed but its debt is still trading as low as 10 cts on the dollar on the secondary market and many banks have written off most if not all of their loans to the country
bilzerian said he has a pool of 150 mln dlrs raised by shearson lehman brothers inc available for the tender and we may add a bank to that weve submitted an agreement were prepared to sign he said
but it wont make out as well as they think
ctc a group of canadian tire dealers which already owns 17 pct of canadian tire is currently appealing in an ontario court against a previously announced ontario securities commission ruling blocking ctcs 272 mln dlr bid
oper shr 16 cts vs 11 cts oper net 660000 vs 447000 revs 9936000 vs 9005000 note 1986 net excludes 381000 dlr tax credit
lai sun garment co ltd yesterday said it acquired a 10 pct stake in hk hotels from liang for 530 mln dlrs
giordano said the exchange had been impressed with the performance of its australian dollar contract which since its introduction last year had regularly topped the french franc as the third most popular traded option with up to 8000 contracts traded daily
prime minister yasuhiro nakasone told a press conference the record rate underlines the need to pass the 1987 budget which has been held up by opposition to proposed tax reforms
as packers and remillers expect production to recover to normal levels in june sellers will remain reserved in the near future the review dated may 14 said
the company named allen and co inc as lead manager and merrill lynch capital markets and salomon brothers inc as co managers of the offerings
an epa official told the dollar could fall to slightly below 100 yen by 1993 if japan and the us failed to restructure their economies
ccr video corp 1st half feb 28 net
japan aluminium output falls in february
one factor against a trade war may be that washington is not anxious to push nakasone into his grave sterling said
in january broad money growth slowed to 07 pct from decembers 15 pct and compared with nil growth in january 1986
the direct payment plan outlined by the administration targets subsidies to small cane and beet growers and gradually lowers payments over four years
a spokesman said the company had no current plans to lay off workers
bil said in a statement the offer is conditional on minimum acceptances totalling 30 mln shares just under 25 pct of the 1204 mln progressive shares on issue
budapest bank rt has become the first of the commercial banks operating since january to issue bonds to expand its resources the official hungarian news agency mti said
high beef prices in japan caused by the protected market has also kept beef consumption at modest levels meat industry officials said
town and country jewelry manufacturing tcjc 
generale de banque heller buy factoring unit
it said great lakes group inc will buy 3750000 shares from the underwriters after closing and grant the underwriters an option to repurchase 150000 shares
he said there was virtually no room for further monetary policy action to boost the economy
gencorp which has interests in tire and plastic making aerospace and broadcasting has about 223 mln shares outstanding
total sales for the same period are expected to rise to 5506 billion yen from a projected 5328 billion this year ntt said in a business operations plan submitted to the post and telecommunications ministry
the final agreement should be signed this year when kkk forms the new company alfa k technology he said
they included equity shares and rights issue worth one billion rupees planned to be issued this month by tata fertilisers ltd he said adding the issue has been postponed indefinitely
full name of company is society for savings bancorp inc
shr nil vs nil net 130998 vs 30732 revs 1568941 vs 10053234
thatcher says trade targets set with moscow
cumulative imports now total 130804 tons it said
but the ratio will be back below 40 pct within 12 months he added
bank of japan governor satoshi sumita said that current exchange rates are almost within the levels agreed to by six major nations last month in paris
the great atlantic and pacific tea co said its three year 345 mln dlr capital program will be be substantially increased to accommodate growth and expansion plans for waldbaum inc and shopwell inc over the next two years
belgian wholesale prices fall in january
audiotronics corp said it registered with the securities and exchange commission to offer five mln dlrs of convertible subordinated debentures due 2002
noel industries inc nol 1st qtr jan 31 loss
in the first quarter it looks like automakers are producing at an 85 mln unit annual rate but selling at roughly a seven mln unit rate roach said
end february reserves last year were 2758 billion dlrs
year ago earnings not comparable because of acquisition by aancor holdings inc on april 29 1986
the fire which started wednesday and burned itself out late yesterday killed one miner and trapped 56 others underground for about 24 hours
in its international weather and crop summary the agency said minimal precipitation covered soybean areas in santa catarina parana and southern matto grosso do sul
the company said us liquids production averaged 660000 barrels per day last year down from 714000 in 1985 with about 44 pct of the decline some 24000 barrels per day representing high cost production shut in or curtailed in response to the decline in crude oil prices during 1986
the provision for possible credit losses was 144 mln dlrs in the first quarter compared with 197 mln dlrs last year
details of the issue will be announced later and it will be listed in the official bulletin balo of march 9
ec farm minsters are due to resume negotiations on the package which should have been agreed by an april 1 deadline tomorrow
samuels called the us plan to eliminate world farm subsidies by the year 2000 proposed at gatt in july visionary and very serious the ec and japan have said it is unrealistic
britain will from next autumn mint and market a new bullion coin called the britannia containing one ounce of 24 carat gold together with bullion coins of smaller denominations a treasury official said
the province of quebec is issuing a 30 billion yen eurobond due may 7 1997 paying five pct and priced at 102 1 2 pct lead manager bank of tokyo international ltd said
brazil seamen continue strike despite court
this compared with 124 paid for april yesterday and 125 for may june
magma lowers copper price 050 ct to 6550 cts
the new method was first used for the january figures which showed unemployment dropping to 21 pct of the workforce from 27 pct old style in december but wessberg said the change had apparently not been noticed by the press
us court allows offshore alaskan exploration
us sells 3 mo bills at 558 pct stop 559 pct 6 mo 558 pct stop 559 pct
on the same basis the figures showed a drop of about 1 1 2 pct in mo in february after a sharp 6 1 2 pct fall in january
machakos embu meru and kirinyaga in eastern kenya and nyeri and thika in central have been dry in the past week
it will be listed in luxembourg while the payment date is may 5
pope and talbot inc said it expects first quarter earnings to total about one dlr per share compared with a year earlier loss of nine cts per share
treasury says only reagan baker speak on dlr
french inflation slows in february
levon resources ltd said re checked gold assays from the howard tunnel on its congress british columbia property yielded higher gold grades than those reported in january and february
it has bought back 337 mln shares as of february 1 when it had 1547 mln shares outstanding a spokesman said
a foreign ministry statement said the latest crisis between the two nato members stemmed from the continental shelf dispute and an agreement on this issue would effect the security economy and other rights of both countries
taiwan announced plans for another round of import tariff cuts on 862 foreign goods shortly before trade talks with washington which officials described as a move to help balance trade with the united states
following redemption 274 mln dlrs of the debentures will be outstanding
baker said developing countries must adopt free market economic policies such as that of the united states
us house panel votes to speed up corn payments
the price of tin which accounted for some 45 pct of bolivias exports in 1984 has collapsed on the world markets and gas the countrys major revenue earner is in abundant supply in the region
it said the government and private exporters shipped 36552 and 38608 tonnes respectively
the treasury secretary stressed however it was very important for the main surplus countries to grow as fast as they could consistent with low inflation to resolve trade imbalances
treasury balances at the federal reserve rose on march 6 to 3879 billion dlrs from 3467 billion dlrs the previous business day the treasury said in its latest budget statement
the bank of england said it forecast a liquidity surplus of around 100 mln stg in the money market today
mine safety appliances co said it will sell through its german subsidiary auergesellschaft its controlling interest in msa africa pty ltd of johannesburg south africa to boart international a wholly owned subsidiary of anglo american corp of south africa ltd angl the company said the terms of the sale were not disclosed
krupp to build south korean steel plant
cash dividend is payable april 30 to holders of record april 15
it was also a sharp 168 pct below the november level it said
occidental oxy unit to redeem debentures
meinert told shareholders hartmarx has no plans to sell any of its divisions
traders said they believed twa chairman carl icahn was the buyer of an 855000 share block crossed today by salomon brothers
a belgian finance ministry spokesman said new rules planned on insider trading would enable offenders to be fined and imprisoned for up to a year and be compelled to forfeit gains
municipal financial corp mfcto six mths net
olson chairman
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
the seven year shibosai issue in the tokyo domestic market carries interest at 69 pct
world group investment in fixed assets 266 billion vs 246 billion
oper shr 43 cts vs 21 cts oper net 6846000 vs 3386000 revs 1371 mln vs 1076 mln year oper shr 136 dlrs vs 42 cts oper net 21764000 vs 7239000 revs 5164 mln vs 4547 mln note 1986 qtr excludes extraordinary gain of 784000 dlrs or five cts share versus extraordinary loss of 110000 dlrs or shr nil in 1985 qtr note continued 1986 year excludes extraordinary gain of 14360000 dlrs or 94 cts share versus extraordinary gain of 2883000 dlrs or 19 cts share in prior year
bankers forecast the 1987 deficit will exceed one billion dlrs because a spurt in exports is expected to slow considerably in the last five months following a massive drawdown of inventories
shr one cts vs 14 cts net 17806 vs 328290 revs 13 mln vs 22 mln nine months shr 27 cts vs 26 cts net 640156 vs 622251 revs 56 mln vs 56 mln note1986 net includes loss of 49040 in nine months from discontinued and gain of 15598 dlrs in 3rd qtr
the non automotive operations including ford motor credit are also expected to post improved earnings this year
washington has said the attack was in response to a missile strike against the american flag tanker the sea isle city in kuwaiti waters on friday
wall street stocks supermarkets general sgl 
producers can withdraw their intervention offer after april 1 when the sugar will officially enter intervention stores or at any time over the following five weeks before the official payment date
among finished goods the index for energy products rose four pct in february after a 98 pct increase in january
prior qtr and year figures include gains from discontinued operations of 66 mln dlrs and 126 mln dlrs respectively
a return of 22 pct on funds employed represents a very meagre return in an economy suffering from inflation of around 10 pct he said
the sale was part of a program of asset disposals undertaken to staunch losses at the nations second largest bank holding company
today call money traded between 5 3 8 to 5 1 2 pct and period tariffs all between 5 5 16 to 5 7 16 pct
van lanschot bankiers nv co owned by national westminster plc nwbll and rabobank ba rabna said 1986 net profit rose 88 pct to 241 mln guilders on a 48 pct higher balance sheet total of 62 billion
he said the february fall was spread throughout the country and among men and women
armstrong world industries inc said its gilliam furniture affiliate has purchased a 130000 square foot building in troutman nc for undisclosed terms
the australian dollars fall since 1985 also improved the local dollar copper price making the company profitable and justifying the mining of deeper reserves at a copper grade of about 195 pct against about 160 pct now the firm said
it was the first rate increase by the big banks in nearly three years
unadjusted february m1 b was 1168 billion dlrs against 1232 billion in january and 788 billion in february 1986
the uk exported 517600 tonnes of wheat and 315800 tonnes of barley in the first 25 days of march the home grown cereals authority hgca said quoting provisional customs and excise figures
the company said a corporate wide reduction of its professional management and indirect labor will result in the permanent elimination of 183 positions in all functional areas of the companys business
analysts said a similar hurdle could also hinder the possible sale of dome petroleums interest in dome mines
the purchases would be limited to 5000 tonnes of cocoa per day and 20000 tonnes per week and could be bought in nearby intermediate and forward positions they added
german banks may participate in futures exchanges through branches abroad but these are at least outwardly subject to stringent west german rules requiring that every contract be secured on a one by one basis with a separate hedge to prevent speculation
belgium plans to issue swiss franc warrants to buy gold with credit suisse as lead manager market sources said
the accord called for stability in foreign exchange rates
another bank said it had been asked by the bank of france to say it was in the market a departure from the central banks usual insistence on confidentiality
it is also a money manager with 35 billion dlrs under management
many called meetings to assess the current market situation
nippon shokubai kagaku kogyo is issuing a 80 mln dlr equity warrant eurobond due april 30 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
total system services inc tsys 1st qtr net
greenmail often involves the repurchase of shares at a premium by a company from an unwanted investor
mcdonnell douglas md gets 600 mln dlr contract
the payment date is march 30 1990
the meeting with kato opened a 12 day visit to japan by lyng who is here to dicuss farm trade
it said proceeds will be used for general corporate purposes which could include acquisitions business investments or debt repayment
i believe the entire chemical industry is headed for a record year or close to it oreffice said
oper shr loss 22 cts vs loss 13 cts oper net loss 1712916 vs loss 769539 revs 2292972 vs 2157895 avg shrs 7961602 vs 6200293 year oper shr loss 53 cts vs loss 45 cts oper net loss 3562151 vs 2543366 revs 9117311 vs 8251136 avg shrs 7169871 vs 618651 note current year net both periods excludes charge 430649 dlrs from cumulative effect of accounting change for patents
washington is also angry over other ministry moves which it says have limited access for us firms to japans car telephone and satellite communications market
under reforms he said the us wants the iadb to adopt a major program of lending to specific economic sectors in debtor countries on condition the countries carried out policy reforms in those areas of their economies
the foothill group inc said its foothill captial corp unit completed the placement of 23 mln dlrs in senior debt and 27 mln dlrs in senior subordinated debt
gynex gynxu recalling oral contraceptives
moniterm corp mtrmo 3rd qtr oper net
synergen inc said it agreed to provide its human elastase inhibitor designed to treat emphysema to ciba geigy ag cigz for human clinical trials
businessmen said they hope the government also will cut the corporate tax now between 45 and 48 pct to enable malaysia to compete for investors with neighbouring states
this will allow 18 more japanese branches of foreign owned brokerages to bid it said
a statement said foreign trade minister rino formica has signed a measure lifting currency regulations that currently impose a 400000 lire limit on the value of lira bank notes that can be brought into italy
its been pro forma intervention said francoise soares kemp chief corporate trader at credit lyonnais
superdrug shares firmed to 670p from 480p on friday
a and p said the acquisition of shopwell in august 1986 and waldbaum in december helped us achieve better than expected results in the fourth quarter ended february 28
the recent introduction of three month money and these new regulations are decreasing the role of the call money market and the discount rate as monetary instruments kullberg said
chances that the international coffee organization ico executive board meeting this week will agree to resume negotiations on export quotas soon look remote ico delegates and trade sources said
qtly div 11 cts vs 11 cts prior pay june 15 record may 15
koehler said in a speech in surrey england speculative capital inflows may cause monetary growth regardless of whether central banks intervened or exchange rates fell
theyve had their talks and now they have the proposal so the banks have to decide whether to accept the restructuring or pull the plug the analyst said
many democrats who control congress and republicans expressed support for the attack and praised it as an appropriate measured response but democrats and liberal republicans voiced new fears that the growing confrontation between tehran and the united states could erupt into a major war and demanded that reagan comply with the 1973 war powers act which could lead to a pullout of american forces from the waterway
it has also frozen bank and credit lines deposited by foreign banks and institutions worth about 15 billion dlrs
nerco is 90 pct owned by pacificorp ppw
zayre corp said it plans to open 25 additional zayre stores 35 new tj maxx stores and 50 hit or miss shops in 1987
commission approves rainbow progressive merger
his plan would guarantee a certain deficiency payment to participating farmers require that idled acreage be put to conservation use only prohibit haying and grazing on extra idled acreage limit participation to a certain number of acres in a county and provide tenant protection provisions
in a filing with the securities and exchange commission the group led by mutual shares corp said it sold 110000 cyclops common shares on feb 17 and 19 for 100 mln dlrs
bankers said such that could add another five billion baht of surplus funds to the local money market
norways wholesale prices rise 05 pct in february
hungary devalued the forint by a similar amount last september 23
bankers hopeful on philippine debt talks
canadian wheat exports in 1986 87 are forecast at 1900 mln tonnes vs 1800 mln tonnes last month
but bankers who attended the meeting with gros said it was inconclusive
southwestern bell corp said its board voted a three for one stock split and increased the dividend 88 pct to 160 dlrs a share
the banks had no borrowings in the prior week
there might be an opportunity to pick up a premium on that because it would be virtually a control block in dome mines he said
trade sources said that 10000 tonnes of lead concentrates could convert to around 5000 tonnes of metal although this depended on the quality of the concentrates
turkish ship in oil row heads for aegean
an ic spokesman said the cost reduction program involved across the board cuts rather than specific about targeted areas
the dark northern spring wheat is for shipment may 15 june 15 1987
the expiration of the sales tax deduction under new tax laws on january 1 was the main reason for the drop in january sales department spokesmen said
federal reserve board chairman paul volcker said a further large drop in the value of the dollar could be counterproductive for world economic growth
finance secretary jaime ongpin told reporters yesterday the alternative proposal is designed to avoid an impasse when debt rescheduling talks reopen in new york on tuesday
us chipmakers urge sanctions against japan
but the letter could be amendend by a written agreement by both companies
dealers said there was resistance around 44000 but with sentiment still firm some traders believe the rally may even take gold as high as 500 dlrs
usda secretary richard lyng however continues to maintain his opposition to a marketing loan saying such a move would be too costly
however the meeting did not identify what those areas are carney said
previously the fed said consumer credit rose 105 mln dlrs in december
equatorial said it has signed a memorandum of understanding for contel corp ctc to purchase 10 mln dlrs of equatorial master earth stations micro earth stations and associated equipment and loan equatorial six mln dlrs over a six month period for repayment starting in december 1988
however revaluations and profits on sales of other assets will significantly reduce this loss he said
yugoslavia whose economic crisis is under close scrutiny by foreign creditors will not follow brazil by suspending repayments on its large foreign debt prime minister branko mikulic was quoted as saying
the company said it will have about two mln shares outstanding on a fully diluted basis after the transaction
the company also said that its share repurchase plan contributed to the per share gains over 1985
but the aide to lyng said it was doubtful that the department would offer a retroactive bonus to farmers who enrolled land in the 10 year conservation reserve last year
before joining the treasury in november 1985 gould was a partner at the wall steet firm of wertheim and co and formerly headed donaldson lufkin and jenrette securities corp
consumers power sees one time 1st qtr loss of seven cts shr from suit
the debentures are convertible into the companys common stock at 1875 dlrs per share representing a premium of 271 pct over the stock price when terms on the debt were set
the goal of the administration policies is to increase domestic production
wisconsin public service corp said in its annual report the companys five year construction program 1987 through 1991 is projected at 330 mln dlrs
bankers say the liberalisation will increase the cost of funds and inevitably push lending rates higher
but an exchange rate orientation would also mean the end of a strict stability policy because both interest rates and liquidity would be affected by required currency intervention and could no longer be steered autonomously by the bundesbank
the agreement in principle with the bank advisory committee led by the bank of nova scotia bnoto comes five days after jamaica successfully concluded a 1255 mln dlr rescheduling accord with the paris club of creditor nations
it said its outstanding 10 3 4 pct subordinated debentures may be used at face value to pay the exercise price of the warrants
japan foreign shipbuilding orders rise in february
graphic industries grph ends buyout talks
the ftc said it ended the prior approval requirement because allied no longer has businesses covered by the order
may was at 154 dlrs from 15280 asked last night
consuming countries chastened by the collapse of international tin council itc price support operations in 1985 are insisting more than ever before that commodity pacts reflect the reality of the markets they are serving a survey showed
lieberman enterprises inc 3rd qtr feb 28 net
anchor financial afcx to make acquisition
it said the proceedings would be used to discharge or refund outstanding obligations
the yield on 91 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama rose to 643896 pct from 621563 a week ago bankers said
that is probably one area that we will probably do something with in the next five years he said the company would continue to emphasize its home canadian market which cornelissen and financial services analysts agreed would remain vital to royal trust
qtly div 10 canadian cts vs 10 canadian cts prior pay may 25 record april 20
the arkansas senator said the marketing loan which in effect allows producers to pay back their crop loans at the world price had led to a 300 pct increase in us cotton exports in 14 months and a 72 pct increase in rice exports
dealers noted that the spread to treasuries is wide for a newly priced aaa rated borrower like japan development bank
prime minister margaret thatcher widely believed to be the strongest government opponent of full ems membership has made clear she does not expect to consider joining until after the next uk election due by mid 1988 at the latest
japan approves aid for indonesia brazil aluminium
taiwan needs a fundamental restructuring of foreign exchange controls said an executive with a western bank
south korea will further open its market to help cut its trade surplus with the us and to fight off pressure to revalue the won against the dollar a government spokesman said
california first bank cfbko 3rd qtr net
clark copy said its majority owned norwegian subsidiary interactive computer aids co of norway purchased kongsberg drafting systems a division of norwegian state owned kongsberg vappenfabrikk
hutton added that pc acquisition also terminated its merger agreement with purolator
biopool ab develops cardiovascular and fibrinolytic products for diagnostic applications
wedgestone realty wdg issues warrants
the stocks in tonnes with february and year earlier comparisons were march 87 feb 87 march 86 crude rubber 41536 42094 49551 synthetic 3334 3978 4044 latex 110 126 189
a 1 plus commercial paper was affirmed
no maximum or minimum price has been set
terms were not disclosed
under terms of the agreement the companies said each share of high plains common stock not owned by adobe or held in the high plains treasury will be exchanged for 112 shares of newly issued adobe common
he declined to identify the target other than to rule out hughes
the walkout by brazils 40000 seamen has idled 160 ships in various ports jorge luis leao franco a senior official of the national merchant marine union told 
the seaway has said it expects little increase in freight levels this year from last year when it moved 376 mln tonnes of freight between montreal and lake ontario and 416 mln tonnes on the welland canal which links lake erie and lake ontario
several analysts were skeptical of the rumors yet they said they could not conclude a takeover of the fast food restaurant chain was impossible
analysts have said firm prices for steel should contribute to better results at the nations major steelmakers
conrac cax exploring restructuring buyout
excludes loss 293000 or 16 cts per share for 1986 and gain 651000 or 18 cts per share for 1985 for discontinued operations
oper shr three cts vs one ct oper net 210000 vs 67000 revs 10252000 vs 8929000 avg shrs 7933000 vs 8553000 six mths oper shr five cts vs two cts oper net 420000 vs 133000 revs 203 mln vs 171 mln avg shrs 7952000 vs 8551000 note 1987 earnings exclude gain from utilization of tax loss carryforwards of 125000 dlrs or one ct a share in the quarter and 150000 dlrs or two cts a share for the six months
templeton energy inc tmpl 4th qtr net
1985 4th qtr oper net also excludes a loss of 42820 dlrs for carryforward
for investment purposes the group said
american express ambitious plans for international growth may be also enhanced by the added cash that spinning out part of shearson would bring
shr loss 102 dlrs vs 101 dlr net loss 181 mln vs 114 mln revs 960 mln vs 903 mln year shr loss 265 dlrs vs loss 306 dlrs net loss 393 mln vs 346 mln revs 3860 mln vs 3730 mln note1986 4th qtr year loss includes 144 mln dlrs 46 mln dlrs respectively from discontinued
philippines liquidity rises loan demand falls
a fund spokesman said an imf team would visit la paz shortly to discuss terms of the new agreement
he denied that opec was exceeding its agreed production ceiling
group to boost fairchild industries fen stake
bonn and paris are diametrically opposed to a proposal for the brussels executive commission to overhaul radically the ecs complex green currrency system designed to translate common ec farm prices into national currencies
some officials hope the oecd results will be used as a basis for negotiations during the uruguay round of global trade talks now underway in geneva
major banks had been posting a 7 1 2 pct prime rate since last august 26 27 when they lowered the rate from eight pct shortly after the feds half point discount rate cut to the current 5 1 2 pct level on august 20
in other cases exchanges seem to be limiting the distribution of data in order to provide competitive advantage to their own commercial information businesses
the soviet union which was to take 400000 tonnes later agreed to take the full production
smith barney harris upham and co analyst james wilbur removed hercules inc from the firms recommended list citing the firms moves into the aerospace business traders said
it made outright purchases of seven mln stg of band one bank bills at 10 3 8 pct and 30 mln stg of band two bank bills at 10 5 16 pct
royal trust plots aggressive global expansion
nonetheless pro forma debt leverage of about 40 pct should decline within a year to about 35 pct because of proceeds from asset sales s and p said
the japanese delegation to the gatt talks said in a statement yesterday they are making major efforts to dismantle trade barriers in their country
payment date is april 15
heineken nv heinas 1986 year
sprinkel repeated his call for further cuts in us government spending and for resistance to tax increases
colonial bancgroup said it has signed letter of intent to acquire community bank and trust of hartselle ala with assets of 26 mln dlrs for undisclosed terms subject to approval by regulatory authorities and community bank shareholders
comstock group inc cstk 4th qtr loss
company corrects current year sales
taiwans foreign exchange reserves now stood at 50 billion us dlrs due to its 1986 record trade surplus of 156 billion
currency trading had begun in the los angeles branch he added
an earlier proposed consent decree did not establish a funding limit
zaire agreed to limit its tin exports to 1736 tonnes for 12 months from march 1 in line with an association of tin producing countries atpc plan to curb exports the atpc said
but mizrahi said that opec is unlikely to do anything more than reiterate its agreement to keep output at 158 mln bpd analysts said that the next two months will be critical for opecs ability to hold together prices and output
he said all of the companys major operations showed improved results in 1986
he noted the stock recently sold in the high teens and there could be a downward risk of 10 dlrs or more if conrac is able to thwart mark iv
s p may downgrade mepc plcs eurobonds
shr five cts vs one ct net 299869 vs 54775 revs 57 mln vs 52 mln note period ended april 30
us energy secretary rules out gasoline tax
proved us and foreign reserves of natural gas declined to 964 billion cubic feet last year from 101 trillion cubic feet in 1985 because of a virtual halt in its exploration program pennzoil said
shattner said sands affiliate in detroit st systems inc is developing software that lets large maniframe computers handle large databases and share them between applications
judge to decide burlington bur in several days
bottom patching was reported complete but only the no4 starboard wing tank has been pumped out and remains dry
argentine cattle market report
frn dealers said at least 10 houses did not open for business with many market operators pausing to assess their next steps in the wake of fridays huge drops and panic trading
year 1986 net profit 132 billion lire vs 82 billion ordinary share dividend 500 lire vs 400 note finanziaria di sviluppo spa a financial services subsidiary of fiat spa fiatmi said in a statement that shareholders approved a previously announced nominal share capital increase from 125 billion lire to 250 billion
a member of the federal reserve board robert heller said he wanted to see stronger japanese demand for american goods
until last year zaire devoted up to 28 pct of its export revenue to servicing large foreign debts contracted during the copper boom of the 1970s to finance largely non productive and often extravagant investment projects
louis dreyfus 4500 tonnes number three yellow corn 150 pct maximum moisture for april 10 may 5 at 7609 dlrs fob gulf
a relaxed sun tanned figure who enjoys cracking jokes over a glass of beer he is hardly a stereotype central banker
genfinance luxembourg issues 50 mln stg eurobond
he said the bank has kept bond equity portfolio mix fairly stable recently and probably will make no major changes for months as it awaits economic oil price and dollar trends
because of the relatively higher level of domestic prices it has become difficult to service exports de guzman said adding that most exporters are taking a wait and see attitude
the pepsico notes for example are sold on a continuously offered basis
ec approves mediterranean financial packages
the new inra to replace the current one which expires on october 22 was formally adopted by most of the worlds producers and consumers in geneva last friday
group chief executive brian corby told a news conference that despite returning to trading profits the international division and the mercantile and general division had not reached satisfactory levels
levesque beaubien inc oil analyst robert plexman forecasts operating profit for 10 of canadas largest oil and gas companies will rise 37 pct in 1987 to about 144 billion dlrs and operating cash flow will increase 12 pct to 324 billion dlrs based on an average oil price for the year of 1650 us dlrs a barrel
1986 net both periods includes pretax gain 218 mln dlrs from sale of remaining interest in paradise hills nm development
oil revenues are expected to produce 92014 billion or 61 pct of the total
honeywell said it will use much of the money to reduce short term debt incurred last december when the company purchased the sperry aerospace group
it said periodic face samples indicate an average grade of 105 ounces per ton of ore ranging from a low of 078 ounce per ton to a high of 558 ounces per ton
versar inc a technical environmental services company said it will release an announcement this afternoon concerning the company
de croo also criticized the way us officials try to solve ec trade issues saying each time we come in contact it a conflict contact
extraordinary debit 365 mln vs 204 mln
security pacific spc loans put on non accrual
officials of the cartagena group of 11 debtor nations met here this week to draw up new proposals in reaction to what they called a deteriorating world panorama and citicorps decision to create reserves against third world loans
arkansas best corp abz declares qtly dividend
the us department of justice doj is reviewing whether trans world airlines inc twa and chairman carl icahn violated federal antitrust law by failing to seek advance clearance from the doj or the federal trade commission for his extensive open market purchases of usair group inc u stock a doj official told a senate panel
hoechst celanese said it has the option of divesting either the south carolina facilities of the former american hoechst or a package of polyester textile fiber facilities of the former celanese
non callable for life the issue is rated baa 1 by moodys and bbb by standard and poors
the company has sought a declaratory judgment on convertibility of debentures due 2011 in light of the recapitalization
the companies said the resulting company wil retain the name computer associates international inc
analysts said esso also gained its first real onshore stake in australia in its first major diversification from the 50 50 bass strait partnership with the broken hill pty co ltd brkns esso has been very keen to diversify from the gippsland basin
bilzerian said his course of action would depend on the companys prospects market conditions and other factors
the rank organisation plc said it has appointed county natwest capital markets ltd samuel montagu and co ltd and swiss bank corporation international as dealers in a 100 mln stg commercial paper program
clevite said the amendments by its board effectively mean that the so called flip in and flip over provisions of its rights plan can only be triggered by affirmative board approval
the lisbon court ruling stated that epacs participation in the public tenders was unfair competition and violated the clauses of portugals ec accession treaty dealing with the gradual dismantling of the state agencys import monopoly
also the bonds are more volatile and if interest rates fall in australia as many analysts expect the potential for capital gains is greater with a zero coupon
analysts however said icahn would have to prove he is serious by following through with his threats or making a new offer
in the merger lanes stockholders will receive 15 shares of interco common stock for each outstanding share of lane common stock interco said
over 30 of philippines 483 creditor banks still have to sign the agreement before the november 15 deadline
shr 25 cts vs 19 cts net 687000 vs 514000 sales 207 mln vs 132 mln
the circumstances increase the likelihood that the company may have to seek protection from its creditors under the bankruptcy code gulf states said
brazilian coffee rainfall
aaa ratings were assigned to eastman kodak cos 135 mln us dlrs of 7 1 8 pct euronotes due 1987
shr loss 21 cts vs loss 28 cts net loss 817000 vs loss 1058000 revs 5627000 vs 7397000 year shr loss 75 cts vs loss 136 dlrs net loss 2872000 vs loss 5200000 revs 233 mln vs 211 mln note 1985 net includes 1255000 adjustment in inventory valuations and 486000 in cost reduction expenses
stone container added that the series c preferreds redemption price is 5315 dlrs plus accrued and unpaid dividends of 12 cts for a total of 5327 dlrs a share
general devices inc gdic year net
but an 89 pct rise in television costs outweighed a 40 pct rise in revenue it said
multi family fell 41 pct to a 534000 rate
an international protocol to severely limit the use of industrial chemicals which are believed to damage the earths protective ozone layer could be signed this year officials and scientists here said
citgo raises crude postings 50 cts today wti to 1750 dlrs bbl
because banks would be able to sell the pins to multinational investors at relatively small discounts to face value their total yield would be boosted well above the 5 8 pct cash margin according to the philippine proposal
but the volume of savings funds may not be substantially undercut by lower savings rates because many customers are parking funds in savings accounts in the hope they can reinvest them at higher yields in the future he said
west german bankers also said then that brazil should seek an understanding with the imf
sesostris the spanish subsidiary of the international grain trader dreyfus sold 18000 tonnes of barley to greece for delivery from mediterranean ports from april 14 to 30 a company spokesman said
the jury is still out this week rozich said
the exact size of the us program has not been decided and the dealers have not yet been chosen
meditrust sbi mt 3rd qtr net
economic analysts said the strike was of major concern to the government which has suspended interest payments on part of brazils foreign debt following a drastic deterioration in the countrys trade balance
but there were skeptics who said they wondered how long opec can retain its unity if buyer resistance continues
the us has taken a hardline stance on the beef and citrus quotas which tokyo says must remain in place to protect japanese farmers
kay jewelers inc kji 4th qtr net
the company also may expand this year in continental europe in conjunction with la victoire a french insurance company he said
sandustry plastics inc spi 4th qtr net
grade mar 27 mar 20 feb 27 es sider 1940 1918 1644 arab light 1861 1844 1552 iran lt 1925 1908 1616 kuwait 1851 1833 1542 urals cif 1916 1894 1607 netbacks in northern europes refinery region were lower last friday from the previous week with brent falling 16 pct to 1889 dlrs a barrel
it said robert bruce reliance group holdings incs rel designee on spectra physics board resigned his position on may 29
he welcomed frances recent proposals to the paris club of western government creditors to extend repayment periods for third world debts and give better rescheduling terms
it comprised the repayment of 1125 billion francs worth of european currency units ecus 972 billion francs worth of foreign currency and 172 billion francs worth of special drawing rights sdrs the bank said
morgan officials said that by 2002 the effective yield will be a 20 pct return
oper shr 42 cts vs 11 cts oper net 1433000 vs 382000 revs 386 mln vs 201 mln year oper shr 60 cts vs 49 cts oper net 2033000 vs 1682000 revs 904 mln vs 730 mln note 1985 4th qtr and year excludes extraordinary credit of 349000 dlrs or 11 cts per share
sigma mines details gold ore reserves
top discount rate at uk bill tender rises to 87239 pct
argentina will also benefit from an additional quota of 5000 tonnes of frozen hake fillets at 10 pct duty and reduced levies on 550000 tonnes of wheat bran the officials said
now its our turn to see if we can survive cut throat competition said a source at one major japanese oil company
in a statement bhp said the 25 cent par rights would be priced at 50 cents for 430 mln of the bhpgm shares on offer
he said several agencies currently helped fema to manage the stockpile and decide how much to sell to help the deficit
the decline in intended soybean acreage and lower stocks are the first report weve had for a long time that shows any optimism for anybody said john bud frazier grain analyst and executive vice president for balfour maclaine inc
soybean oil mln lbs stocks on sept 30 1987 at 1360 vs 1200 last month
we have made a conscious strategic choice to become a smaller financially sound consumer products company which operates predominantly in the stable political and economic environment of north america he said
the us has not said how much it thinks the taiwans and koreas currencies should climb
many bond traders in tokyo are doubtful that sterling will further appreciate steeply
but he said work in the coordinating committees had already run into difficulties before brazils interest moratorium
uk money market given further 168 mln stg help
new grades of petrol with lower lead content are sold in singapore from today in line with the ministry of environments 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
charles blackburn president and chief executive officer of diamond shamrock and the new company which will emphasize exploration and production said earnings wil be better than in 1986 he declined to say how much better
the debentures are convertible into the companys common stock at 40 dlrs per share representing a premium of 236 pct over the stock price when terms on the debt were set
the may department stores co said it has signed an agreement to sell its sycamore specialty store division to an investment group that includes syacmore senior management
li attributed the surge in 1986 earnings to a buoyant local property market and substantial increases in contributions from associated companies
the utility said these totals exclude spending on new england hydro transmission being built to import electricity from quebec hydro
those released include former carical president francesco del monte who was vice president of one of italys largest state banks bnl banca nazionale del lavoro at the time of his arrest
for the year it reported a net loss of 65 mln dlrs or 70 cts per share as a result of writedowns in the book value of its oil and gas properties in the first two quarters
the study also said interest rates charged to farmers who meet the underwriting standards of a secondary market would fall 50 to 100 basis points due to the new resale market
the report said that latin america continued to emerge slowly from the deep recession that began in the early 1980s with gross domestic product gdp edging up to nearly four pct from 35 pct in 1985
oil accounts for 60 per cent of its export income
leclerc said alcan decided it would cost too much to modernize the plant
western mining to open new gold mine in australia
but it still failed to regain mondays us closing level of 15000 05 yen
my only response is that we have gone through about five years with the dollar going in just the opposite direction
the company said underwriters led by goldman sachs and co will be granted an option to purchase up to an additional 30 mln dlrs of debentures to cover over allotments
the company said it expects to resolve delivery problems this year which last year hindered the growth of its toy distribution business which accounts for about one third of revenues
the two cts per share quarterly cash dividend will be payable may 29 to shareholders of record may 13
new process co noz sets qtly payout
mead corp 1st qtr oper shr 109 dlrs vs 67 cts
the world bank sources said the request for land reform funding would be discussed at a meeting of the world bank led consultative group to be held alongside the april 27 29 annual meeting of the asian development bank adb in osaka
the countrys production capacity at year end 1986 was 2562 mln bpd of which 1420 mln are light and medium crudes hernandez said
harland co jh 1st qtr net
alexander jr
an rtz spokesman said the ruling was not worrying as the subsidiary had assumed that the provisions were not deductible from corporation tax payable
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
union bank raises its prime rate to 75 pct
the national average yield is expected to fall to 4317 tonnes hectare from 4322 tonnes in 1985 86 it said
manila seeking to reschedule 94 billion dlrs of its total debt of 272 billion wants to pay the london interbank offered rate libor in cash and a margin above libor in pins
exports in 1985 86 at 740 vs 740 last month
the official who asked not to be identified dismissed a report circulating in markets today that the interagency trade policy review group had rejected the proposals
there were rumors in world oil markets on tuesday that iran had fired shells at an oil camp in northern kuwait in retaliation for us attacks on iranian oil platforms in the gulf on monday
citicorp capital investors ltd a unit of citicorp said it wants to buy cyclops corps steel assets from dixons group plc and is willing to pay 1244 mln dlrs nearly 13 mln dlrs more than had been offered for the assets by alleghany corp
dresser industries inc said it signed a definitive agreement to sell its reliance standard life insurance co to rsl holding co inc a subsidiary of the privately held new york based investment firm of rosenkranz and co
signs that the economy has just about weathered the worst are increasing
the european community authorised the export of 25000 tonnes of barley yesterday bringing the cumulative total at weekly tenders since the series started last june to 333 mln tonnes close to the 337 mln under licence in the same year ago period traders said
mthly div 61 cts vs 61 cts prior pay april 30 reord april 15 note franklin ohio insured tax free income fund
it also said french swiss and some canadian banks had subscribed to the package and that the remaining canadian banks would sign the accord in the next few days
some analysts said tariffs would also harm us industry by stepping up offshore production and by reducing demand in japan for semiconductors us firms are trying to sell here
condere formed to acquire the armstrong assets said it named dennis terwillger formerly vice president and controller of armstrongs tire division president
if at least 90 pct of the shares are not tendered the offer will be prorated to 49 pct the companies said
the company said the dividend is payable may 18 to holders of record may 4 and the split is subject to approval by shareholders at the may 20 annual meeting
the march interim surplus compared with a 170 billion dlr surplus in the same february period
prior year 4th qtr and year ended january 25 1986
the us commodity credit corporation ccc has accepted a bid for an export bonus to cover a sale of 186 head of dairy cattle to egypt the us agriculture department said
the companys overseas ambitions were whetted by heightened domestic competition and impressive growth at its london bank operations which attained full british banking powers in 1980 cornelissen said
spot tin easier on european free market
much of the disposal strategy aimed at concentrating activities on core businesses had now been completed he noted
although the group said it is considering buying more shares of symbion it said it has no plans to seek control of the company
turkeys second biggest bank the private turkiye is bankasi announced a profit rise to 35 billion from 323 billion in 1985
mountain states resources corp said it acquired two properties to add to its strategic minerals holdings
the stocks of other textile makers rose along with burlington
that the lead manager has required the borrower to provide information during the lifetime of the notes on the progress of his business
only about 2000 acres are affected by the disease which causes leaves to fall off de mel said
first fbt reiterates speculation premature
the information systems group will continue strong sales growth based on recent order trends and new product introductions it said
the company earned 1021 mln dlrs in first quarter 1986 and 4107 mln dlrs for the whole of the year
the selling concession is one pct while management and underwriting combined pays 5 8 pct
the bonus will be paid in the form of commodities from the inventory of ccc stocks
the investment in shearson lehman a growing firm described by some analysts as the top us retail brokerage will give nippon life a ringside seat and possibly lower commissions on wall street where it invests an increasing percentage of its assets of 902 billion dlrs they said
in a separate report the hwwa economic research institute in hamburg said west germanys real trade surplus would fall markedly this year
the banks still have three weeks to sign the agreement and bankers are hoping all will go according to plan
the two companies had been holding exploratory discussions
1986 year includes gain of 35000 dlrs from tax loss carryforwards
the upset was compounded by news that sterling bank lending rose 27 billion stg in may above forecast and that the bank of england looks likely to have to sell more gilts to offset the impact on domestic money supply of its current intervention
canamax to acquire krezmar gold property stake
at the other end of the scale captains earn 7993 cruzados a month basic pay which is brought up to 15229 cruzados with allowances
the corn will be shipped in the coming days from valencia
on the other hand it also saw no reason for sticking dogmatically to the money supply target for the whole of 1987
last month lear siegler said it planned to sell its smith and wesson handgun business starcraft recreational products ltd the peerless truck trailer operations and other units as part of its restructuring plans
average interest rates on yen certificates of deposit cd fell to 413 pct in the week ended april 8 from 433 pct the previous week the bank of japan said
ministry officials said the decline was due to bad weather and a reduction in the land under sugar cane this season which totals 34800 hectares down from 35700 in 1985 86 they said
honan ethylene corps import requirements have risen to 8000 tonnes a month from 6000 tonnes last year to meet strong demand from honan petrochemical co which makes hdpe and ethylene glycol and hangyang chemical which produces low density polyethylene and vinyl chloride monomer they said
pakistans trade deficit narrows in february
khoo is a major shareholder of the national bank of brunei bhd nbb which closed in november after the brunei authorities alleged 90 pct of its loans of 13 billion brunei dlrs had been extended to khoo related firms without documentation or guarantee
but public authorities received some one billion marks from abroad the bundesbank said in a statement
kato said japan will maintain its current level of self sufficiency and will try not to produce surplus rice because potential production is higher than domestic demand
union bank of switzerland securities ltd lead managed a 15 billion yen bond for union bank of switzerland nv
copper industry asks lme for strategy statement
it noted the sale to newly formed bearing acquisition was announced may 18
shr loss 1523 dlrs vs profit 12 cts net loss 124634000 vs profit 882000 revs 384 mln vs 410 mln year shr loss 1546 dlrs vs profit 48 cts net loss 126434000 vs profit 3555000 revs 1870 mln vs 1332 mln avg shrs 8177000 vs 7450000 note current year results include charges related to closing or divestitures of facilities and other assets
us okays usair u pacific southwest purchase
ended march one oper shr 47 cts vs 41 cts oper net 840484 vs 732000 revs 366 mln vs 311 mln six mths oper shr 77 cts vs 75 cts oper net 1379453 vs 1338346 revs 682 mln vs 585 mln note excludes net gain of 27000 dlrs or 15 cts shr in current qtr and six mths from disposal of discontinued operations
non accrual loans rose to 286 mln dlrs from 132 mln at the end of the first quarter of 1986 largely because 119 mln dlrs of loans to brazil were put on non accrual status
chinese chemical plant to issue domestic bond
retailers advanced 30 pct less in the latest three months than in the previous three months it said
shr eight cts vs 16 cts net 188000 vs 354000 revs 538000 vs 594000 year shr 31 cts vs 28 cts net 692000 vs 617000 revs 2640000 vs 906000 del e
we sympathise with the actions of the french west german and belgian traders and producers but we are not party to it a spokesman said
federal reserve business loan data april 3 one week ended march 25 daily avgs mlns us business loans 280220 down 971 excluding acceptances 277940 down 822 govt agency securities 112852 down 95 cds major time deposits 158226 down 175 trading accounts 17156 down 1058 us commercial paper 338816 down 210 includes financial cos 261819 down 880 new york business loans 64615 down 122 excluding acceptances 64005 down 41 cds major time deposits 35633 down 540
cable news network is owned by turner broadcasting system tbs material from subscription servoces would be limited to an average of about one minute in a half hour program nbc said
the solids processing equipment business involves manufacture of crushing and related equipment for mining
the initial upward market move this morning reflected a strong speculative reaction to rumours of a us attack which was thought at one stage to have been against iranian missile launchers on the faw peninsula close to kuwait analysts said
all that is left are the wrinkles unless some bank again decides to hang tough they were referring to the last round of negotiations in november 1986 when one bank identified as citibank na refused to endorse the committees proposal of 1 1 8 points over libor
sturm ruger submits bid for smith and wesson
partly offsetting these outflows exchequer transactions will add some 140 mln stg to the system today
according to the times of zambia the imf team led by assistant director for africa paul acquah is due to conclude its talks with the government on schedule on march 23
the company will amend its option granting procedure to conform to the sec decision which will eliminate future charges it added
there are seven co managers for the remainder bank of communications bank of east asia dai ichi kangyo bank daiwa bank hang seng bank sumitomo bank and wing lung bank
cpc international cpc completes asian sale
preussags domestic group turnover rose to 448 billion marks in 1986 from 429 billion in 1985 helped by the first time consolidation of 9518 mln marks of turnover from its majority owned oil and gas subsidiary c
vernes would not say what form any compromise between the producers and the ec would take but he reaffirmed the long term desire of producers to export to the world market providing they were not losing money by doing so
mobil corps mob mobil oil francaise unit said it will take a stake of about 10 pct in the french butane and propane gas distribution company primagaz in exchange for the transfer to primagaz of mobils small and medium bulk propane activity
they ought to be very strongly supported in the gatt round as a mechanism for relieving their debt burdens or making possible debt amortisation in the future he said
he said that after the recapitalization takes effect proforma net income for the fiscal year ended july 31 1988 is expected to be about 287 mln dlrs
however the sources said the real test of saudi arabias ability to sell crude at official prices in a weak market will come this month when demand for petroleum products traditionally tapers off
tass denounces us attack on iran as adventurism
devon din reports increase in reserves
perceptive systems a venture capital firm based in houston makes digital imaging equipment
us personal income rose 02 pct or 79 billion dlrs in may to a seasonally adjusted annual rate of 36300 billion dlrs the commerce department said
foote mineral co said it signed a letter of intent with shieldalloy corp a wholly owned subsidiary of metallurg inc for the sale of its cambridge ohio business
there is no controversy over continuation of mfn for hungary and china
the brazilian coffee institute ibc has given shippers until close of business on thursday to submit details of past export performance in order that individual quotas can be allocated an ibc spokesman said
it has just one track the track and thats all de clercq said
krupp who has a 244 pct stake in kappa said he and kappa management believe a kappa radiation systems combination would be good for both companies
royex gold mining corp said it is making an offer for international corona resources ltd of 50 dlrs per share and 40 dlrs per warrant
official figures put last years soybean harvest at 71 mln tonnes
it will be difficult to regain access to the us market because different forces are in play now said one western envoy
drg issues 40 mln stg convertible bond
swiss feb trade deficit 6297 mln francs jan deficit 2094 mln official
unadjusted february unemployment totalled 186 mln people up from 182 mln in january and 164 mln a year earlier
city of bergen launches 80 mln canadian dlr bond due 1994 at 101 1 2 with 8 5 8 pct coupon
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
bank of spain provides year record assistance funds
rolls royce the uk s state owned car and aircraft engine maker is seeking a 250 mln stg multiple option facility to provide it with additional sources of financing banking sources said
when ministers established the four year uruguay round to negotiate freer trade in 13 areas they set up the gatt surveillance body to monitor this commitment known in gatt jargon as standstill and rollback tran criticised washington for the superfund tax on oil imports a customs user fee and the removal of a special machine tool known as category fsc34 from its government procurement list for reasons of national security
harvest will start in la pampa and buenos aires in mid april
a trader at a major international trade house who asked not to be named said he expects a 10 cent drop near term but believes if brazil opens may registrations at a relatively high export price and requires a high contribution quota from exporters the market could steady at the lower levels
home federal said notice of the meeting and related proxy materials which has been filed previously with the securities and exchange commission and the federal home loan bank board were mailed on june 26 to holders of record on june 15
robert bruce bruc downgraded by s p
liu said news reports about problems concerning panin were unfounded but he did not elaborate
the new maturity date is april 30 1988 it said
shamrock completes central soya sale to ferruzzi
rugby well prepared for new cement competition
we are concerned about the backlog of other financial packages and would like to see these move ahead soon he said there is some evidence that this is already happening
drexels ramirez did not commit herself either way adding that the next major move may have to wait until april 14 when februarys us trade data are due for release
brazil and its bank advisory committee agreed to transmit a request for an extension of short term credit lines totaling 16 billion dlrs for 60 days until may 31 brazilian central bank president francisco gros said
wysoglad said a recovery from the oversold condition could drive june bonds to a high near 99 before falling back to test chart support near the recent low of 97 13 32
note consolidated balance sheet as of end of 1st qtr reflects after tax impact of 50 mln dlr settlement won by sealy licensee in michigan
foreign exchange borrowings by local and foreign banks reached almost 12 billion us dlrs by the end of april according to official statistics
shr 85 cts vs 24 cts net 2381000 vs 754000 revs 353 mln vs 326 mln avg shrs 2777620 vs 3161603 six mths shr 135 dlrs vs 44 cts net 3756000 vs 1388000 revs 658 mln vs 643 mln avg shrs 2777620 vs 3161603
the country has declared an interest payments moratorium on 68 billion dlrs of its 108 billion dlr foreign debt and frozen some 15 billion dlrs in trade and interbank deposits by commercial bank creditors at brazilian institutions
a group of affiliated new york investment firms said they lowered their stake in cyclops corp to 200500 shares or 50 pct of the total outstanding from 260500 shares or 64 pct
the bank of england said it had provided the money market with assistance worth 129 mln stg in the afternoon session
avx corp avx 3rd qtr oct three net
loss continuing operations for the qtr 1986 includes gains of sale of investments in enron corp of 14 mln dlrs and associated companies of 4189000 less writedowns of investments in national intergroup inc of 118 mln and brae corp of 156 mln
first southern federal savings and loan association said it has agreed in principle to acquire horizon financial corp and horizon funding corp from victor federal savings and loan association of muskogee okla for undisclosed terms
the commodity credit corporation ccc has transferred 210 mln dlrs in credit guarantees previously earmarked for sales of us corn and 50 mln dlrs for sales of oilseeds to increase available coverage on sales of us poultry meat to iraq the us agriculture department said
it will issue an additional 105 billion shares to the goverment
the rate was last adjusted on march 9 when it was reduced to 7 3 4 pct from the eight pct rate set in january
with a historically high yen and historically low interest rates theres an increasing disincentive to invest in japan competition in fund management has grown along with greater japanese savings
in 1986 australia sold 428 mln australian dlrs worth of goods including steel and coking coal to india and bought 1705 mln worth of items including cotton textiles from india
fao said world cereal supplies in 1986 87 were estimated at a record 2113 mln tonnes about five pct higher than last season and due mainly to large stocks and a record 1986 harvest estimated at 1865 mln tonnes
he said the decision to cut the discount rate on february 20 was a hard choice for the bank because monetary conditions had already been sufficiently eased
the second cnsecutive week of dry weather stressed moroccan winter grains approaching teh heading stage the agency said
shr 118 dlrs vs 87 cts net 1496 mln vs 134 mln revs 11 billion vs 956 mln avg shrs 1273 mln vs 1545 mln nine mths shr 336 dlrs vs 242 dlrs net 4281 mln vs 3737 mln revs 31 billion vs 27 billion note 1987 3rd qtr and nine mths net includes a charge of 11 mln dlrs or nine cts a share and 318 mln dlrs or 25 cts a share for the interest expense for share repurchases
gordex minerals locates canada gold deposits
the original debenture issue was for 100 mln dlrs
consequently although he is well known abroad his views on issues such as the less developed country debt may initially carry less weight than have those of mr volcker
it cautioned that exposures to uk local authorities and those guaranteed by the british export credit guarantee department would probably not qualify for such treatment
gao likely to show certs more costly than cash
chavin raises stake in myers myr 
union texas the nations largest independent oil and gas producer based on revenues is a privately held company owned by kohlberg kravis roberts and co and allied signal inc ald the houston based company said it lost 575 mln dlrs on 126 billion dlrs in sales last year compared to profits of 165 mln dlrs on 204 billion dlrs in sales in 1985
hunter chase manhattan area executive for europe africa and the middle east said at a news conference that plans to broaden the banks activities on the italian market have not been finalised however
swiss franc notes issued after may 1 must be provided with a prospectus virtually erasing the difference in information requirements between notes and public bonds according to a convention drafted by the bankers federation
klm royal dutch airlines klmas said it is negotiating for a minority stake in a british and commonwealth shipping plc bcoml courier service in a transaction which might include a convertible loan issue
calmon said assuming a 58 mln bag global ica quota brazils share under the proposals would have been 145 mln bags of which soluble would have accounted for 20 mln leaving just 125 mln bags of green coffee for export
among individual states texas and oklahoma reported the biggest gains in drilling last week with increases of 21 and 11 respectively
already strained relations between the us and the european community ec are likely to get worse before they get better director general of the dutch economics ministrys foreign affairs division frans engering said
bilzerian said he and a tampa fla investment firm he controls called bicoastal financial corp may acquire additional shares or they may seek to acquire one or more positions on pay n paks board of directors or to acquire a controlling interest in the companys shares by tender offer or otherwise the statement was made in a filing with the securities and exchange commission
the issue will be listed in luxembourg
kaakebeen said the firm had one vessel at the scene and another on its way with divers on board
bp group treasurer rodney chase said more than half to as much as two thirds of the 74 billion dlrs bp needs for its offer will come from existing sources
herrington also pressed anew for existing administration proposals to deregulate natural gas which he said would cut the need for imported oil by 300000 barrels daily
commission sources said any new system would cover only heavy products representing about 45 pct of the market instead of 65 pct under the present system
s p upgrades weyerhauser wy market preferred
baker said the us seeks a greater say in bank decisions for itself and other creditor countries
the company stated its believe that chemlawn is obligated to permit it to compete with others to acquire chemlawn on a fully informed basis
at this time we have to get our priorities right he said
backlog 308 mln vs 267 mln at start of fiscal year
german banks seek greater brazil link with imf
oakridge holdings inc 2nd qtr dec 31 net
shr loss eight cts vs loss eight cts net loss 220724 vs loss 210120 revs 4194466 vs 4224633 year shr profit eight cts vs profit four cts net profit 207514 vs profit 98050 revs 178 mln vs 161 mln note quarter net includes tax credits of 162600 dlrs vs 236100 dlrs
if the loan is approved over us objections the united states would not increase or replenish funds for that institution until it agrees to stop making such loans
trillium telephone tlmto 2nd qtr net
terms were not disclosed
it consists of operations in sweden australia brazil france great britain spain and appleton wis
the company further stated that it is confident it will receive an objective review of the facts
the changes reflect the restruction of beneficial which include the sale of subsidiaries western national life american centennial insurance co and beneficial national bank usa
the agreement with dixons group calls for cyclopss steel and construction businesses to be sold to a unit of alleghany corp y for about 110 mln dlrs once the merger is completed
miller said the sale price may end up higher
in a filing with the securities and exchange commission the group which includes ingemar rydin industritillbehor ab the firm and investor erik martin vik said it bought the additional shares between feb 24 and march 9
canadian roxy petroleum ltd year net
funaro and gros are today meeting british chancellor of the exchequer nigel lawson foreign secretary geoffrey howe and governor of the bank of england robin leigh pemberton
methode electronics inc methb regular payout
the three locals represent about 2600 production and maintenance workers while the remaining two locals cover about 600 office and technical workers
meridian energy castone end letter of intent
m 1 has been largely discredited because its traditional link to economic growth has disintegrated under the impact of falling interest rates and banking deregulation
telecrafter corp swhi 2nd qtr feb 28 net
deutsch suedamerikanische bank ag a wholly owned subsidiary of dresdner bank ag drsdf said it was not worried about brazil stopping its interest payments
lyng said the us put high priority on talks on 12 farm products named in us complaints against japan to the general agreement on tariffs and trade gatt last year as well as on beef citrus products and rice
the cost of failure is beyond calculation
if it fails to satisfy the british government it will be up to the japanese government to explain its position he said
universal furniture ltd said in a filing with the securities and exchange commission that it had increased its stake in bench craft inc common stock to 2548975 shares or 453 pct of the total outstanding
the conversion premium is indicated at 17 to 22 pct
harvesting of both those crops and sorghum was paralysed by the bad weather
he would not make any specific forecast but said he was optimistic for further growth in fiscal 1988 in the companys brewing and food products operations
it said the change will not be applied retroactively to prior financial periods
without the use of certificates amstutz said nearly the entire 1985 crop which had been put under loan would have been forfeited to the commodity credit corporation ccc
meinhardt said domestic group turnover rose 67 pct to 3941 mln marks in the first two 1987 months against the same period last year but incoming orders fell 52 pct to 4566 mln
denman told reporters that possible retaliation which he warned of in a letter to house ways and means committee chairman dan rostenkowski would not necessarily be on a product for product basis
avaq international inc said it intends to require gates learjet corp glj to honor its agreement to sell its shares to the company
on the international front baker said banks must do more lending to developing countries
total opec oil supply totalled 172 bpd in the first quarter of 1987 compare with 193 bpd in the last three months of 1986 while supply from non opec countries totalled 28 bpd as against 282 bpd in the same 1986 period
the average forecast called for a 23 billion dlr increase
the federal reserve bought about 550 mln dlrs of us treasury bills for a customer a spokeswoman said
shr loss nine cts vs loss 103 dlrs net profit 100000 vs loss 116 mln revs 1252 mln vs 718 mln nine mths shr loss 246 dlrs vs loss 98 cts net loss 269 mln vs loss 85 mln revs 3554 mln vs 2156 mln note 1987 qtr includes loss 59 mln dlrs non recurring after tax charges due almost entirely to the companys recent buyout of its tilden mine debt obligations
scrap consumption increased to 31100 tons in january from 24900 tons in december
palm oil now sells at around 700 ringgit a tonne or about 115 ringgit less than soybean oil but malaysia must sell more palm oil to prevent a stock buildup that could damage the industry a leading grower told 
nonetheless economists do not expect the fed to react to month to month changes
there was not the same ease then for the holder of another currency to buy other countries securities he added but there is no difficulty now for them to purchase dollars and buy us securities the united states needs dollars not japanese yen to pay its debts and reduce the deficit and so has no plans to issue yen denominated bonds he emphasized
he told a pakistan central cotton committee meeting here the present was the third consecutive poroduction record setting year and said the momentum would be accelerated in the future the official app news agency reported
extraordinary items included a 53 mln dlr profit on the sale of properties and investments less a 28 mln provision for reorganising the big w chain
japanese 150 billion yen loan for indonesia
if they do not accept our conditions now it will be much better for us because with the market prices more or less the same buying from iraq and china is an advantage he said
earnings per share rose to 35p from 348p
reserve bank governor gerhard de kock said the agreement was a good deal both for south africa and the banks and added that the three year length of the agreement was of enormous significance to south africa
year ended march 31 group shr 1883 yen vs 1873 net 2007 billion vs 1847 billion pretax 2214 billion vs 2536 billion operating 3757 billion vs 5157 billion sales 14762 billion vs 15900 billion
kaputin said papua new guinea was experiencing a boom with exploration companies spending about 60 mln kina annually on about 150 mining and 23 petroleum projects
chinkuli added that zambia was setting up an irrigation fund with canadian aid to lessen the effects of poor rainfall
brooklyn union gas co a new york gas utility will see its gas costs up sharply as a result of transco energy cos e decision to close its pipelines to transport spot gas sales energy industry analysts said
ibm had used xebecs hard disk drive controller products in the ibm pc xt a product which ibm is phasing out
the rating agency said these moves reflect the potential benefits to be derived from the exchange of nrm common and preferred units for certain properties of mesa limited partnership which make mesa nrms biggest unitholder
a spokesman for enka declined to comment on the financial details of the deal
year to date load factor fell to 535 pct from 547 pct the carrier said
and director arnold t
modern controls inc mocon 4th qtr net
combustion said it expects further restructuring of core businesses particularly lummus crest this year through staff reductions downsizings and the consolidation of facilities
economists say capital flows are more sensitive to interest and exchange rates
he said he expected profits would recover last years lost ground and reach 1985 results
in february alleghany agreed to buy cyclops steel and nonresidential construction business for 1116 mln dlrs in cash and the assumption of liabilities
the sullivan mine at kimberley about 450 miles east of vancouver produced 22 mln long tons of ore last year most for processing at the trail smelter
the ministry said the operation would mainly benefit long term holders of the issues mainly small investors and small communes
perhaps around about 48 cents he said
oecd trade growth seen slowing in 1987
the warrants are exercisable from may 18 1987 until april 10 1992
german gnp is seen rising by two to 25 pct but with inflation between zero and 10 pct according to most german forecasts
other increases include dowtherm g to 2192 dlrs per gallon dowtherm ht to 2094 dlrs per gallon dowtherm j to 1496 dlrs per gallon and dowtherm lf to 1868 dlrs per gallon
total loans and advances rose 33 pct to 51719 billion dlrs from december when they rose 12 pct
haq said the new policy effective from the fiscal year 1987 88 beginning on july 1 would be for three years but reviewed every year
sikes corp ska 1st qtr may 31 net
yes theres been some bargain hunting but no one dares to be first to come seriously back in said one dealer
goldberg acting on behalf of a group of investors that the group had accumulated 1262200 shares or about 67 pct of clarks outstanding common stock
citroen expects higher profits helped by ax
if purchases reach this level within six months buying is suspended pending an icco council review of price ranges
council of europe issues luxembourg franc bond
ctc dealer holdings ltd said canadian tire corp ltd controlling shareholders alfred david and martha billes did not extend an agreement expiring yesterday to tender their shares only to ctcs previously reported offer for 49 pct of canadian tire common shares
the basic background which has supported the stocks and bonds markets has not changed said norio okutsu assistant general manager of nikko securities bond department
baird and co inc
standard oil says british petroleum share tender extended until may 4
versar inc vsr to make announcement
shr loss 14 cts vs loss one ct net loss 836327 vs loss 34926 revs 8939390 vs 8136160 year shr loss 34 cts vs loss nil net loss 2008103 vs loss 14078 revs 301 mln vs 280 mln note year ago results restated to reflect acquisition of spartacus inc in febaruary 1986
the sheet will be processed in facilities which are to be erected krupp said
leading economists call for more growth abroad
the staff of the commodity futures trading commission cftc recommended that the regulatory agency approve the minneapolis grain exchanges application to trade high fructose corn syrup 55 hfcs 55 futures contracts
the comibol miners strike entered its fifth day to press for higher wages and more funds for the mining nationalised industry
emergency action to distribute european community ec food surpluses to the poor has proved so successful that the ec executive commission may propose a permanent scheme a commission spokesman said
shr one cts vs 20 cts net 122556 vs 2627205 revs 1922 mln vs 1933 mln nine mths shr 27 cts vs 56 cts net 3556424 vs 7531664 revs 5606 mln vs 5423 mln
oak industries oak sets debt exchange offer
our company is in sound financial position and production financing can be readily arranged when required
you want your stock to reflect realistic valuations to enhance your ability to make all kinds of endeavors down the road said ef hutton group analyst michael lewis
bond corp international ltd a subsidiary of the australian based bond corp holdings ltd bonas said it would defer its planned rights issue but still wants the issue to be made before july 31
arkla alg proposal to settle dispute
the united states recently has been taking the position that countries that take needed economic reform measures relying more on market forces and private enterprise should be encouraged by assistance from the imf and development banks
morgan also reported a loss of 18 mln dlrs from securities underwriting and trading in contrast to a gain of 454 mln dlrs in the year earlier period
government officials said they hope the move will intensify international pressure against the pretoria regimes apartheid policies
one consumer country delegate said this would distort not support the market
india reduces export duty on coffee
michigan general also said its diamond lumber homebuilding products retail unit closed nine unprofitable stores in the first quarter and reduced its headquarters staff by 10 pct
japan has reiterated it has no plans to bow to pressure to give foreign telecommunications companies a major role in a planned new firm
some 100000 of this shipment has already been purchased the sources added
they said the move is effective immediately
qtly div seven cts vs six cts prior pay april 17 record april three
he said an investigation of the drug being conducted by a house subcommittee is continuing
american greetings corp agreao 1st qtr net
and theyve gone all over the world and at every stop theyve been told the same thing the official said brazil would have to enact a credible economic program either in consultation with the world bank or the international monetary fund to cool its overheated economy before commercial banks would begin negotiations
pantasote inc pnt 4th qtr loss
five regional oil producing nations will gather in caracas tommorrow for a two day meeting expected to center on ways to combat proposals for a us tax on imported petroleum the venezuelas ministry of energy and mines said
canada economy expected to grow moderately
he said bass pushed for sale of the independent television stations because the company paid too much
the confrontation is a fact now
shl said it was advised that kinburn intends to exercise this option to maintain its ownership and effective control of systemhouse
valhall operated by amoco norway a s flowed 74694 bpd last month compared with 69748 bpd in august the company said
if you looked around the world you could not scrape up one mln barrels a day in shut in production outside the middle east he said
stoltenberg declines comment on currency zones
however jiji quoted the sources as saying the central bank would not take such actions as guiding interest rates higher
if youre going to take the risk inherent in exploration you need prices higher than the current market he added
export director carlos santana told a press conference the saudis were the first suppliers of oil to impose such conditions after brazils decision to halt interest payment of its commercial debts last month
sterling started at 16190 00 dlrs against 16195 05
for sales porsche expects its overall world volume this year to be above 50000
consumers and a small group of producers argued that objective criteria should be used to define export quota shares which would have meant a reduction in the share of brazil the worlds leading producer
salomon sa the french maker of ski bindings and boots said it is seeking a 75 mln dlr euro commercial paper program that will be supported by a 75 mln dlr committed syndicated revolving credit
baker defending the strategy said private commercial banks have rescheduled nearly 70 billion dlrs in debt since october 1985 at longer maturities and lower interest rates
there were no bales awaiting review and 1218 bales awaiting decertification
jacobs suchard ag expects a world cocoa surplus of around 100000 tonnes in 1987 compared with a 104000 tonne surplus in 1986 jens sroka head of commodity buying told a news conference
but i think they will eventually kill the margins on the profitable chemicals in the niche market some top chemical executives share the concern
ifo also predicted stagnation in the automobile industry in 1987 after a particularly successful 1986 when production rose 51 pct
the bonus was made to international multifoods corp and will paid to the exporter in the form of commodities from ccc stocks the department said
the acquisition of fairchild is not essential to fujitsus north american operations but it would have been a great boost james capel and co analyst tom murtha said
fed seen adding reserves via system repos
wojnilower said the us probably enjoyed above average economic growth in the first quarter
the decline in february compared with january reflected seasonal factors it added
champion cha to expand alberta mill
the marines are doing their best but they dont have the manpower nor the experience to control the situation in such a quick period he said
the facility consists of 285000 square feet of hangar and shop space
he said the bills provision barring gnma from increasing its current fee of 06 pct charged to issuers of single family mortgage backed securities is an unnecessary and risky congressional intrusion into gnmas ability to respond quickly and flexibly to changes in financial markets reagan said his reservations must be addressed promptly through remedial amendments reagan said the provision hampered gnmas ability to maintain reserves necessary to meet its obligations particularly in light of a disturbing increase in claims and in gnmas contingent liabilities reagan said the legislative cap on fees could well call into question the adequacy of gnmas current reserve of 14 billion dlrs given the 250 billion in gnma guaranteed securities presently outstanding and gnmas monthly contingent liability of three billion dlrs reagan said he had instructed housing secretary samuel pierce to work with congress to draft revisions to the legislation
nch corp nch 3rd qtr jan 31 net
mti quoted a government spokesman saying last decembers wage freeze decree would expire on april 1 as envisaged
a spokeswoman said the distribution date for the split has not been determined
for the first quarter of 1986 the company reported net income of 875000 dlrs on sales of 660 mln dlrs
white house and defense officials said today that massing of the fleet was routine and had nothing to do with the iran iraq war or irans recent stationing of chinese made anti ship missiles near the mouth of the gulf
he is an associate of treasury secertary james baker who launched the us strategy for shoring up indebted nations in october 1985 which included a call for increased adjustment lending by the world bank
the rights dividend distribution is payable july 9 to shareholders of record july 9
dutch bank plans 50 mln australian dlr eurobond
south african year on year broadly defined m 3 money supply growth was revised upward to 1037 pct for april from a preliminary 1008 pct but was down from a revised 1069 pct in march reserve bank figures show
he said junk bonds had some value because of their liquidity
gross currency reserves in the week rose by 200 mln marks to 1095 billion
about 57 mln dlrs of debt is affected
inflation fell to an estimated 12 pct this fiscal year from 17 pct in 1981 82 he said last night
it said initial mine output is expected to be about 150 tons of ore daily
mccormick told reporters the isda was concerned that a level playing field be maintained in the swaps market
officials of several countries have been asked to contribute data to oecd so that the study can be updated to 1985 subsidy levels a much more relevant measure of the current world farm situation
the currency was hovering around 7678 cts in early afternoon trading
changes in the money supply can lead to changes in interest rates and affect economic activity directly
the official who asked that his name not be used said the national security council the treasury and state departments and other agencies held a meeting yesterday to discuss the situation
the national planning department forecast that in 1987 coffee colombias traditional major export will account for only one third of total exports or about 15 billion dlrs
following the lead of other major banks southeast banking corp told the securities and exchange commission it would place 542 mln dlrs of medium and long term brazilian debt on non accrual or cash status
i think it is friendly for the market at least in the long run she said
the 1986 losses were after taking into account net interest payments of 426 mln kwacha an exchange loss of 412 mln kwacha and taxes of 235 mln kwacha
the government reduced fixed asset investment requirements to 11 pct from 23 pct to help offset the negative impact of interest rate deregulation
we have great respect for borg warner mangagement heyman said following a speech at the american institute of chemical engineers annual meeting
the figures confirm provisional data issued by the bank two weks ago
proceeds from the sale will be used to finance capital investment and the promotion of productive investments and exports designed to strengthen the countrys balance of payments the government said
bank of japan to sell 800 billion yen in bills
warner communications inc said its warner communications investors inc unit acquired stock and warrants representing 416668 shares of berkey inc common stock or the equivalent of 82 pct of the companys common stock outstanding
sergeyev said about 600 mln roubles was lost annually in raw material industries by paying wages and bonuses for work which was not in fact performed
on february 25 1985 the dollar peaked against the yen at 26315 yen
us oil demand as measured by products supplied rose 19 pct in the four weeks ended march six to 1639 mln barrels per day from 1608 mln in the same period a year ago the energy information administration eia said
wedtech executives have said they paid bribes to about 20 government officials
transfer books for both series will be closed at the close of business on april 10 to allow for selection by lot of the bonds to be redeemed ohio power said
ply gem industries inc pgi 3rd qtr net
eliminating this practice called pik and roll would save the government 14 billion dlrs between 1988 92 according to the congressional budget office cbo
exxon said that its principal gains in production came from the gulf of mexico alaska the north sea malaysia and from oil sands in canada
electroperu sa would repay the government the amount over 20 years with one year grace at zero pct interest
an exchange spokeswoman said the change 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
analysts said that the move by bp had come as a surprise
nikonov communist party secretary for agriculture was here he indicated that trade in wheat was not something that would be discussed with the president of the united states
landmark said it realized a gain of about 11 mln dlrs on the sale
ual has stood firm on its strategy
the strike by 40000 seamen now in its 13th day represents a stern challenge to the government
balletto estimated production of palm coconut and palm kernel oils this year at 85 mln tonnes down from 91 mln tonnes last year enough to offset higher oilseed output
a newly formed credit rating agency based in london euroratings ltd said it will begin providing evaluations of the quality of eurobond offerings including the first ever ratings of some of the uk and irish clearing banks
treasury secretary james baker said the united states and the five other industrialized nations signing the recent paris accord remain committed to fostering the exchange rate at around current levels
while this would be 30 billion lower than last years deficit much of the improvement would be due to corporate tax increases being introduced before income tax cuts take effect
he also called the case strange but he stopped short of endorsing japanese newspaper accusations that oki had been trapped into making the sales
the area sown to soybeans this season was a record 37 to 38 mln hectares 108 to 138 pct higher than the 1985 86 record of 334 mln hectares
new harding group inc formerly harding carpets ltd said it declared its first dividend since fiscal 1978 of 10 cts per subordinate voting share and multiple voting share pay april 15 record april 8
gros speaking to reporters yesterday after his first meeting with brazils bank advisory committee since he was appointed last month also promised a clear statement of brazils economic policy would be made in the next few days
last friday exxon corp said forgeries of a 20 year zero coupon euronote issued by its exxon capital corp subsidiary have been discovered in the european market
purchases from non members such as malaysia will be limited to 15 pct of the total stock and those on any one day should be limited to 40 pct each in nearby intermediate and forward positions
mcdonalds corp issued a 75 mln canadian dlr bond paying 8 1 2 pct over five years and priced at 101 5 8 pct
collins was not immediately available to respond directly to hawkins statement
cbt hopes to launch the first us night trading session at the end of april offering treasury bond and t note futures and options on the two futures contracts between 1700 and 2100 hrs central us time 2300 to 0300 hrs gmt
india buys white sugar from london traders
ldp executive council chairman shintaro abe will explain the plan to us officials when he visits the us on april 19
no central bank wants to let interest rates rise and the bundesbank had been forced to put its rates up following rises in the us aschoff said
but the shares are probably worth about 108 dlrs each dean witters morrison and fathi of prescott ball like asarco because of cost cutting and restructuring
this is not a crash scenario but the dollars steeper angle of descent increases the risk of ending with a fireball rather than a three point landing the eiu said
the talks broke down last june after the two sides said they could not agree on the terms of the sale
the operations acquired in the transaction have total revenues in excess of 23 mln dlrs the company said
the transaction is expected to close in april
weve got to loosen money weve got to keep interest rates down
in the mergers and acquisitions area the association advocated a ban on greenmail payments or poison pill takeover protection plans without prior shareholder approval
the minister also was quoted as saying he expects major nations to take coordinated action to ensure exchange rate stability
the unit makes valves and marine specialty equipment for the military
crazy eddie also that it requested that the shareholder group make a commitment not to take the company private until crazy eddie has had a chance to recover from current financial difficulties a committment that the group rejected
weizsaecker in a speech on the first day of an official visit to argentina said debtor and creditor countries have created this situation jointly
gulf canada corp said a discharge of material at its amauligak drilling site in the beaufort sea caused no danger to the environment
as a result investors are expected to snap up this weeks planned offerings by allied stores corp of 200 mln dlrs of senior notes due 1992 rated b 2 b and 600 mln dlrs of senior subordinated debentures due 1997 rated b 3 ccc plus
but dealers said an ecu announcement was unlikely to come this week as a number of technical and legal matters had still to be resolved for instance how german ecu accounts would be treated for minimum reserve purposes
in fourth quarter 1986 company also adjusted carrying value of non chemicals discontinued operations assets leading to charge of 156 mln dlrs
housing starts in february included a seasonally adjusted 56 pct rise in single family units to 1317000 units and a 41 pct fall in multi family homes to 534000 units
entex energy development ltd eed sets payout
burndy corp bdc 3rd qtr oct 2 net
coniston group to continue bid for allegis aeg 
parliamentarians said their action would increase pressure on the conservative government to take firm action
commercial bank aggregate deposits rose to 16410 billion in the same period against 12066 billion in the corresponding months of fiscal 1986 87 he said
if it had it would have missed its reserve projections added security pacifics bannon
one analyst speculated an offer from gaf would be forthcoming shortly
planters corp pnbt 1st qtr net
fleet has established consumer banks in the southeast and is known as an innovator in securitization of mortgages
japanese microchip makers are being strong armed into compliance with a us japan pact on semiconductors halting predatory pricing and opening japans market to foreign chips industry analysts said
the dot said the merger was unlikely to substantially reduce competition on the four routes on which both carriers provide either nonstop or single plane service
brazilian finance minister dilson funaro on the third leg of a trip to explain his countrys stance on debt to european governments met west german finance minister gerhard stoltenberg for talks this evening and the two men were continuing their discussions over dinner brazilian delegation sources said
bionomic sciences international inc said it expects to start operating profitably by the fourth quarter
external risks for the economy have increased but growth of two to 25 pct this year is still possible according to president of the west german federation of banks hanns christian schroeder hohenwarth
the sources said rubaishi had not been expected to hold the post permanently
it also brought the price for west texas sour to 1750 dlrs a bbl
elsewhere maize from east london to japan paid 22 dlrs
the water is rushing by so fast that we cant get any divers down to assess the damage but there is some possibility that the pipeline could be up by the end of the week a company source said
poclain offers par rights issue
gemcraft inc gemh year net
currently the only other potentially diluting instruments are the warrants that the company also issued in connection with the hybritech acquisition
blaylock speaking on behalf of food inspectors said a new program allowing elimination of usda inspection functions at certain plants voids the law in letter and spirit and must be repealed or we will see rising consumer fraud and an epidemic of death and illness for which there will be no prevention nor legal recourse subcommittee chairman charles stenholm d tex said the panel would hold a hearing on salmonella june 2
irt property launches debenture in euromarket
shr 15 cts vs 16 cts net 239034 vs 264485 sales 2932782 vs 2664853 year shr 57 cts vs 45 cts net 929524 vs 741121 sales 109 mln vs 9708792
china is short of foreign exchange and a drop in prices is usually taken as a buying opportunity by peking one trader said
lamson sessions lms drops rail parts operations
morgan grenfell group plc said its 1986 pre tax profits were lower than forecast because of depreciation in the value of its guinness plc guinl shares and because of securities trading losses in the us morgan chairman lord catto said the losses on the groups seven mln guinness shares in addition to a 35 mln dlr loss on its risk arbitrage operation in new york depressed profits some eight mln stg to 822 mln
kim told reporters the government would repay loans ahead of schedule and encourage firms to increase imports and investment abroad to prevent the current account surplus from rising too quickly
american quasar completes reorganization plan
we need to and will make the effort to solve the debt problem but we cannot make an effort that means we stop growing he said adding that political and not purely commercial solutions were needed to the debt crisis
ecuador to ask opec to raise export quota
traders say the 15 itc creditor banks original tin holdings of nearly 45000 tonnes have now been almost halved and the bulk of material still available is being held by malaysian and japanese firms which are reluctant to depress the market with unwanted metal
analysts argue recent rises in civil service salaries and budgeted spending increases for the state owned post office and south african transport services suggest that major tax concessions to individuals or corporations are unlikely
banca della svizzera italiana biszz said it planned a one for 12 rights issue at 300 pct of nominal value to raise about 50 mln francs new capital
the lago agrio to puerto colon pipeline is designed to transport between 30000 to 50000 barrels of day bpd of ecuadorean crude to the colombian pipeline they said
hartmarx corp hmx 2nd qtr may 31 net
the company said it would recommend a quarterly rate of 23 cts a share on the split stock
dixons said it agreed to pay an additional 475 dlrs per share or 95 dlrs per share to each shareholder whose shares were purchased under its offer for cyclops at 9025 dlrs per share
the purchase of cleveland is a further step in saatchi and saatchis fast growing consulting industry the company said
it will be guaranteed by parent company equiticorp holdings ltd of new zealand the managers said
ever since then the advisory group of which lloyds is a member has been attempting to round up the needed signatories
rich hodges a houston based land manager representing international oil and gas corp a partnership of preussag corp and c
the soviet union has been a heavy buyer of yugoslav corn since october purchasing close to 15 mln tonnes in the 1986 87 marketing year according to a report from the us agriculture counselor in belgrade
commitments to argentinas external financing program for 1987 and 1988 have reached about 91 pct of the 195 billion dlrs in new loans that banks have been asked to provide citibank and argentina said in a joint statement
west germany and bolivia signed two cooperation treaties today expected to nearly double the amount of overall aid the south american country receives from its european trade partner german officials said
he said yugoslavia had always paid its debts and would continue to do so but he said creditors and international institutions should show more understanding for yugoslavias situation
a japanese borrower with a five year equity warrant eurodollar bond issued at 2 1 2 pct can now swap into domestic yen rates of one pct
ecuador posts 713 mln dlr 8 mth trade deficit
we have taken the appropriate action and the dollar has stabilized johnson said after testifying to a house banking subcommittee
three previous attempts to negotiate a new five year pact had failed the last round breaking down in october over consumer demands for tighter controls of the buffer stock
terms were identical to those on the preceding offer
grain traders said a large part of the tonnage on offer was in stores which would mean high transport costs to deficient areas
shamrock holdings of california inc a disney family company said it submitted the bid on april 8 to salomon brothers inc holly sugars investment banker
modulaire has scheduled a special shareholders meeting for july 15 to vote on the merger
martell cited usda statistics showing that since the 1980 grain embargo the us is only a major supplier of grain to the ussr during years of heavy soviet demand
analyst thomas mccrann of merrill lynch said he reiterated a buy recommendation of wang laboratories inc noting that a successful cost cutting campaign could reduce the earnings loss expected for the third quarter ending in march
ball bll ends talks with monsanto mtc 
investors receive interest only payments for the first 18 months and then interest and principal payments for the remaining five to seven months dub detailed
the buyout was surrounded by controversy since a purolator board member doresy gardner resigned in march
by being pegged to the dollar on a basket basis the peso has already substantially devalued against all of the countrys trading partners he said
the company also said it has filed to offer 912000 common shares including 162000 to be sold by a shareholder with company proceeds to be used for working capital and general corporate purposes
in january plm power entered into a letter of intent to negotiate a potential acquisition of sunlaw subject to substantial due diligence the company said
the official said chung is expected to outline seouls efforts to increase imports of us goods and to stress the need for south korea to maintain a trade surplus in the next few years in order to cut foreign debts totalling some 445 billion dlrs
emery air eaf to bid for purolator pcc 
pennsylvania power said the 7 3 8 pct series preferred stock is redeemable at any time also at the option of the company at 10738 dlrs per share on or before march 31 1992 and declining to 100 pct on and after april 1 2002
year oper shr 123 dlrs vs 185 dlrs oper shr diluted 123 dlrs vs 179 dlrs oper net 6799000 vs 9321000 revs 7474000 vs 124 mln avg shrs 4503000 vs 4350000 avg shrs diluted 4508000 vs 5206000 note net excludes gains from discontinued operations of 386000 dlrs vs 903000 dlrs
court lifts restraining order on mark iv iv 
the limited partnership will be similar to the westin hotels limited partnership completed last year when allegis sold westin hotels in san francisco and chicago
wall street professionals said they were not convinced of the story or that edelman and dominion would be the victors if burlington actually came into play
president corazon aquino said economic growth took priority over debt repayments but she sought to dispel fears that the philippines would not honour a july agreement rescheduling 132 billion dlrs of debt
the expectation is either there will be someone else or the bidder will sweeten the offer hoping to get managements cooperation said larry baker an analyst with ef hutton group
sun already owns a 44 pct working interest in the unit
this cost 470 mln dlrs after tax included in the net interest cost
banponce corp said it privately placed 30 mln dlrs of its 825 pct senior notes due 1992 through lincoln national investment management co new york life insurance co and dillon read and co inc
he also said that he told bankers about brazils needs to ensure a seven pct average growth and eight billion to 11 billion dlr trade surplus until 1991
pillsbury co psy 3rd qtr feb 28 net
platt does not foresee potential for tighter monetary policy on the basis of the latest retail sales report
the new cd have maturities of six months and one and two years and bear interest rates ranging from 39 pct to 515 pct
it said it will open about 50 super stores this year
the pentagon will appeal commerces approval of the sales because the technology could be turned against us national security commander bob prucha a pentagon spokesman said
call money eased to 375 80 pct from 380 85 yesterday following a net injection of 67 billion marks at a rate of 380 pct in fresh funds from this weeks securities repurchase agreement dealers said
britain has threatened to use its new financial services act to revoke or deny licences to japanese brokerage houses if it does not get satisfaction
george wimpey says benefits of restructuring seen
new zealand cancels weekly t bill tender
revlon closed yesterday on the new york stock exchange at 14 3 4
franklin high yield sets higher payout
bi said chinas yards offered competitive prices guaranteed quality and prompt delivery
meinke noted that in the case of argentina the loans became non accruing for a couple of quarters but then when the banks came to an agreement with argentina all the back interest was paid
members of the inter african coffee organization called for todays producer meeting to exchange views on the market situation the producer delegates said
the group had a good overall year in north america the company said in a statement
united biscuits pretax profit 1252 mln stg vs 1022 mln in 53 wks to jan 3
iranian premier mir hossein mousavi reiterated his country would retaliate for us navy attacks on gulf oil platforms
it said it expects sales and profits for fiscal 1987 however to exceed those of 1986
at a press conference republican lawmakers said they would propose expanding eep to include all countries willing to purchase additional commodities at reasonable prices in addition the congressmen said they would propose extending the life of eep to five years from the current three years and increasing the eep funding ceiling to 25 billion dlrs from 15 billion at present
little reaction to comex price limit removal
the supreme court without comment declined to hear an appeal by the bondholders seeking to reinstate their lawsuit
cray cyr gets 66 mln dlrs order from bp bp 
mathematical applications said it tentatively agreed to sell its direct marketing business to pagex inc for 400000 dlrs plus an amount equal to the working capital of the business at closing as well as a 17 mln dlr note payable in installments over six years
cablevision industries corp said its cablevision industries of california inc subsidiary has entered into an agreement to buy substantially all of the assets of valley cable tv for about 100 mln dlrs
it reported a net loss of 97638 mln pesos in the year ending december 1986 compared with a net loss of 153 billion in 1985
may department stores co ma raises dividend
shr 46 cts vs 76 cts div 30 cts vs 30 cts prior net 85 mln vs 140 mln note 1987 qtr net is after a 55 mln dlr reserve for a potential refund as a result of the federal communications commissions continuing rate investigation
deficit cuts seen unable to cure trade deficit
the european monetary system marks its eighth anniversary still vulnerable to turmoil in world money markets despite creating an island of currency rate stability in europe economists say
it the mtn market will even surpass the bond market he said
golden poultry chik to make acquisition
at end of 1987 and 1986 third quarter average shares outstanding were 1699 mln and 1754 mln outstanding after deducting dividends accured on preferred stock
it is a key to seeing whether there are any teeth in the quota agreement said one major us roaster
i consider the strident tone of us declarations on airbus ill advised and the ec fats and oils tax proposal a dangerous provocation he said
under the agreement rade koncar will own 60 pct of the venture and chronar will own 40 pct chronar said
a small scale industry development project will be supported by a 54 mln dlr loan the bank said
the energy sector saw a slight 1 2 pct rise the ministry added
in comments at a news conference of vontobel holding ag chairman hans vontobel said he believed it was up to the banks own self regulating bodies such as the swiss admissions board to take such action before governmental bodies stepped in
southland did not elaborate on the sec order of investigation and company officials could not be reached for comment late tuesday
new world pictures ltd nwp 4th qtr net
depending on several circumstances appleton said he may buy more sage common shares or sell some or all of his current stake
bankers acknowledged the political sensitivity of the interest spread but urged ongpin to examine the argentine package in its entirety
the figures are expected to show a deficit of 13 billion dlrs from a provisional 148 billion in january
ph glatfelter co says it will buy ecusta corp for 149 mln dlrs in cash
neyra stressed peru was not withdrawing from the world bank
vice premier yao yilin announced at a similar press conference last year that the fecs would be abolished saying the government had decided it was ideologically unacceptable to have two currencies circulating in china at the same time
the reserve bank of india said it was tightening its credit policy for commercial banks by raising their cash reserve ratio by 05 pct to 10 pct effective from october 24
steak inc
a senior us treasury official said there has not been a consensus reached yet when asked about reports the paris club of western creditors had agreed to long term stretch outs of african debt at concessional interest rates
frazier was joined by susan hackmann senior grain analyst with agrianalysis and mark meyer a grain analyst with shearson lehman brothers inc on a chicago board of trade panel to discuss the reports
the present five day average of the indicator price is around 192 malaysian singapore cents
the scientists appeared to support an asa charge denied by malaysian palm growers that imported coconut palm and palm kernel oils contain high levels of saturated fat and thus raise blood cholesterol and the risk of heart disease
american express has said the total employees of shearson will expand by 20 pct in 1987 internationally
sources close to the italian state credit institution istituto mobiliare italiano imi said a convertible bond issue was one of the possibilities being studied to facilitate market absorption of fiat shares sold last year by libya and still in the hands of banks
madeira inc said it signed a letter of intent to be acquired by tradevest inc through a stock for stock exchange
oe inc 4th qtr net
he noted that brazil is a country with a diversified economy going through some economic upheaval after the transition from a military to a civilian government
memotec data inc year net
i think what speeded an agreement was the attitude of the us government which urged several major banks to soften their position in various debt renegotiations
the company is making an announcement at this time in response to analysts fourth quarter revenues and earnings per share estimates of 29 mln to 32 mln and 24 cts to 30 cts respecivtely said raymond meyo president and chief executive officer
csr officials have also said they had no intention of raising the companys bid for monier after etls intervention became public last week
the pins proposal has been laid aside the discussion is now on pricing of just the cash payments he said
usair said if the application is dismissed twa would be limited to buying only 15 pct of its 317 mln outstanding shares
us selling 128 billion dlrs of 3 and 6 mo bills march 30 to pay down 12 billion dlrs
the issue is non callable and is collateralised by us treasury and agency securities and cash and will be offered in targetted registered form
the soviet union took 263051 tonnes of wheat and barley saudi arabia 90944 tonnes barley china 87259 wheat algeria 64896 wheat bangladesh 30000 wheat morocco 27500 maize greece 26700 wheat and barley spain 25124 wheat poland 24683 wheat brazil 24082 wheat italy 21659 wheat cyprus 20700 wheat and maize israel 16500 maize and the uk 8797 tonnes wheat
ah robins says rorer group merger proposal merits further consideration
bangladeshs jute exports fell to 410 mln dlrs from 500 mln in 1986 87 according official figures
time inc is raising 250 mln dlrs via an offering of sinking fund debentures due 2017 yielding 884 pct said lead manager salomon brothers inc
standard and poors said its downgrade of chemical also reflected that holding companys acquisition of texas commerce bancshares tcb which was just now approved by the federal reserve
non callable for two years the debentures are rated b 2 by moodys and b by standard and poors
the board said that to continue to oppose the emi palmieri group would only increase the expenses of the company create further uncertainty among its suppliers customers and employees and result in deterioration of moral among company personnel
brazilian president jose sarney announced a move which temporarily legalises the purchase of us dollar currency in the parallel market aimed at promoting imports of foreign goods
this would cost the government a maximum of two billion dlrs
the yens tendency to rise will prevent japan from expanding domestic demand and undertaking necessary economic restructuring he said
kaunda dismissed central bank statements the new auction system would be used to allocate foreign exchange to private bidders but not to fix the exchange rate
banctexas group inc said it has signed a definitive agreement to sell its banctexas sulphur springs affiliate to a group of local investors led by gene watson for a cash amount equal to book value at the time of the sale subject to regulatory approvals
lower ascs corn prices to affect ten states
hermann strohmeyer vice president of commerzbank ags foreign exchange trading and treasury department said gold is poised to rise to 460 to 470 dlrs an ounce in the second half of this year
but another official denied local press reports that the central bank itself had asked investors to moderate their dollar sales
they reaffirmed our agreement to coordinate economic policies to provide for non inflationary growth and stable exchange rates reagan said
raven industries inc rav 4th qtr jan 31 net
the sources said salomon believes that other money center banks may feel compelled to follow citicorps cci lead in its filing with the securities and exchange commission relating to its loan exposure to brazil
gasoline prices rose by 55 pct last month after a 157 pct january rise the department said
japan crushers start april us soybean buying
jp morgan jpm net hurt by brazil trading
dutch government revenue is being depressed further by falling income from natural gas sales in 1987 the cpb said
moi said kenya had so far met all obligations regarding its foreign debt which his government has never tried to reschedule
swire pacific ltd swpchkg said it plans for a one for five bonus issue for both its a and b shares following an earlier report of a 447 pct jump in 1986 net profits to 178 billion hk dlrs
the international monetary fund which recently reviewed the yugoslav economy is said by western diplomats to be alarmed at what it sees as a deteriorating economic crisis here and the possibility of balance of payments problems later this year
for the full year he said he expects the computer maker to earn about 240 dlrs a share
the dollar will decline over the next two to three years but this is unlikely to result in a complete reduction of the us current account deficit said anthony solomon chairman of sg warburg usa inc and former president of the federal reserve bank of new york
saudi oil minister sees no need to alter opec pact
all of these things would fit within the definition of our initiative as we have asked it and we think any novel and unique approach such as those should be considered said the official who asked not to be named
snap on tools corp sna 3rd qtr net
agl said in a statement that it already holds 105 pct of tmocs issued capital
pegasus gold inc pgulf 3rd qtr dec 31 net
conversion price for both transactions was 175 dlrs per share
the legislation is part of the omnibus trade bill being considered by several committees
in the circumstances the government had only a slim chance of producing a meaningful economic package in the near future dai ichi kangyos tanaka said
french treasury details planned tap issue
sosnoff said in a letter to caesars world chairman and chief executive officer henry gluck that the decision to go directly to the shareholders was made at the urging of may financial and legal advisors who repeatedly stressed to me the lack of responsiveness of the management in the past sosnoff who said he has made numerous efforts to express his views to management on ways of maximizing shareholder values said caesars twicce refused his request for a board seat
in addition to a half dozen ships in the us navys small mideast task force near the straits of hormuz the pentagon has moved 18 warships including the aircraft carrier kitty hawk into the northern arabian sea in the past month
in fiscal 1986 ending september federal spending amounted to 238 pct of gnp while federal receipts absorbed 185 pct of gnp leaving a deficit of 53 pct he said
end year reserves rose to 603 mln barrels of oil compared with 503 mln previously
and while banks in more liberal financial markets can attempt to diversify away from traditional lending conservatism in saudi banking has made it difficult to generate fee income from new investment banking products
bogart crafts corp vogt year loss
if 1985 figures were restated along the same lines the reserve figure would show a drop from 720 mln barrels previously
republic american rawco ups buckeye bpl stake
among the factors affecting liquidity it said bills maturing in official hands and the treasury bill take up would drain around 102 billion stg while below target bankers balances would take out a further 140 mln
usda estimates 1986 87 ussr grain imports 260 mln tonnes vs 230 in feb 299 in 1985 86
but british authorities would be far from happy if forced to use that weapon government sources said
a three year eurobond launched earlier this week for news international plc nwsll has been increased to 150 mln dlrs from 100 mln due to good demand lead manager credit suisse first boston ltd said
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
new immigration rules relating to alien farm workers and reportedly being drafted by the us agriculture department are meeting with objections in congress sources on capitol hill said
the cartel comprising 33 yards capable of constructing ships of more than 10000 gross tonnes will limit newbuilding output to a maximum of three mln compensated gross registered tonnes in 1987 88 the shipbuilders association of japan said
canadas mulroney says us trade deal nears
norway which pumps around one mln bpd from its offshore fields previously said it would continue its output curbs from planned production for the rest of the year if opec remained within its december accord on output and prices
the rest will be financed by new debt
great american first savings bank said it is offering collateralized euroyen notes worth about 100 mln dlrs or 15 billion yen only to investors outside the us the bank said the notes will be offered through a syndicate with nikko securities co in conjnction with goldman sachs international corp
these rates compared with averages of 547 pct for the three and 551 pct for the six month bills sold last week
the rest would be new sales
ortner senior economist at the commerce department told an export import bank conference the yen is still a little bit undervalued and could go up another 10 or 15 pct asked for reaction a treasury spokesman said officials were aware of ortners comments but had no intention of making any comment on them
on balance sterling would be a net sufferer if g 6 collapses phillips and drew analyst stephen lewis said
the paper said 43000 hectares in meixian county in guangdong are seriously short of water
it is owned by matthey rustenburg ltd a joint subsidiary of johnson matthey and rustenburg which in turn is owned by mining group johannesburg consolidated investment co ltd
shr 172 dlrs vs 87 cts net 330000000 vs 167000000 sales 336 billion vs 274 billion avg shrs 192200000 vs 191700000 nine mths shr 462 dlrs vs 295 dlrs net 888000000 vs 564000000 sales 978 billion vs 831 billion avg shrs 191100000 vs 191500000 note earnings include a loss of 30 mln dlrs or one ct a share in the 1986 quarter from early extinguishment of debt earnings include losses in the nine months of 30 mln dlrs or two cts a share vs 80 mln dlrs or four cts a share from early extinguishment of debt
the deal is subject to approval by both companies directors
canada consumer price index rose 04 pct in february statistics canada said
spain gives cuba 25 mln dlr credit line
a third tranche of 15 billion francs will be issued at a variable interest rate and the whole issue will be quoted on the paris bourse
materials output increased by 02 pct last month the fourth consecutive monthly increase after declining throughout much of 1986
for its part the government is expected to increase budgetary discipline which in turn is likely to attract foreign investors the sources said
on monday a national coffee association newsletter said the office of us trade representative will implement a voluntary compliance system temporarily because legislation to monitor imports is tied up in the congressional trade bill
universal said it will operate as a wholly owned unit of questar under its current name
the asa also strongly opposes an ec proposal to tax vegetable and marine oils consumed in the ec which will be considered by the ec commission in december
revs for qtr include life subsidiary account deposits of 548538 vs 241465 and for year of 2104840 vs 300404
any trades would be negotiated
provisional inflation figures for february released last week showed the cost of living last month was 05 pct lower than in february 1986
but on may 1 president kenneth kaunda abolished the auctioning system inspired by the international monetary fund and announced zambia would pursue a go it alone economic strategy based on national resources
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 fed previously said the rate was 797 pct in january and 795 pct in december
uk longer cyclical indicator rises in february
dealers said spreads would widen and the dollar would move more sharply if the bundesbank did intervene
all of the economists agreed that the federal open market committee tomorrow will leave fed policy unchanged
current year net includes gain 1025000 dlrs from sale of cellular telephone investment
standex international sxi buys british firm
resdel rsdlo to merge with san bar sbaro 
michigan general had also said that the offer would be conditioned on ratification of amendments to the indenture governing the 1075 pct debentures by holders of two thirds of the issue
mark iv which first disclosed its stake and interest in baird on march 10 has reported it holds 391800 baird common shares or 176 pct of the total outstanding
on wednesday dixon said it had bought 54 pct of cyclops 43 mln shares outstanding boosting its stake in the company to 56 pct
malaysias manufacturing exports rose by 245 pct to 151 billion ringgit in 1986 chairman of the export promotion council ahmad sarji abdul hamind said
last november an advisory panel urged the government to work on reducing officially set high farm product prices to levels closer to international values the sources added
monthly dist 21 cts vs 21 cts prior payable april 25 record april 15
lanston and co
lilaratne said planters would receive 10000 rupees per hectare for replanting and plants would be free of charge
warburg said it reserves the right to buy more than 2500000 shares if the offer is oversubscribed but has no present intention of doing so
indications of forgeries came to light on wednesday at morgan guaranty trust co in london which acts as euro clears depositary and exxon said they were confirmed today
abitibi price inc aibto 3rd qtr oper net
the share certificates issued through the conversion will be distributed to noteholders beginning march six savin added
in a filing with the securities and exchange commission emery said it would sell or lease purolators air hub in indianapolis ind which is currently under construction and would divest purolators stant inc subsidiary
reconstitution is the term used to describe reassembling a treasury security into a book entry security after it has been separated into its principal and interest components
the rebates granted at yesterdays ec sugar tender represent a further concession to producers complaints that they are losing money on exports outside the bloc trade sources said
government sources said nakasone would try to resolve growing bilateral trade friction and discuss the june venice summit of western industrial democracies
any investors not buying to their full limit would run the risk of having that limit reduced next year he explained
but an adviser to maxwell in new york said theres no basis to think that its us
the united states will likely impose sanctions soon on imports of japanese microchips senators said today after a private meeting with commerce secretary malcolm baldrige
several of the companys telephone units may be faced with a reduction in the rates of return authorized by their regulators reuss said
in its monthly market report the iwc said it is leaving unchanged its forecast of world wheat production for the coming 1987 88 season at between 520 and 530 mln tonnes against a record 534 mln in 1986 87
if import propensity does not expand very soon there is a real risk from protectionist lobbies particularly in the us with whom japan has so massive a surplus he said
ricoh co ltd rictt year ended march 31
the company earned 635 dlrs a share in 1986
the company also said it plans to file soon for an offering of up to one mln new shares which would give it a total of about 8850000 post split shares
february closing stocks of primary zinc at european smelters excluding yugoslavia fell 4500 tonnes to 160000 from 164500 revised from 164300 in january compared with 126700 in february 1986
philippines to lobby us for higher sugar quota
theres been a lot of consolidation in the marketing co ops one problem he said is the co ops sell the grain to the major commercials for export rather than exporting it themselves losing potential profits
he said argentina was prepared to follow the example of brazil which last week declared a moratorium on interest payments of a large portion of its 108 billion dlr foreign debt
the central bank bank negara said yields on the 91 day malaysian treasury bills rate rose slightly to 2032 pct at this weeks tender from 2020 pct last week
the marplan poll published in today showed conservative support had fallen to 36 pct from 38 pct last month while the alliance of liberals and social democrats had rallied to 31 pct from 21 pct to run neck and neck with the labour party whose own support fell from 38 pct
the dti will pass the ball to her as soon as she returns tonight a dti official said
shr 22 cts vs 19 cts net 11 mln vs 994000 year shr 83 cts vs 60 cts net 43 mln vs 31 mln note1985 net includes tax loss carryforward gain of 8000 dlrs
rjr nabisco rjr to redeem 12 billion dlrs notes
unilever plc final div 3518p making 5017p vs 3862p
the fourth quarter charges included a 208 mln stg provision on a retroactive price agreement recently initialled by pertamina and japanese buyers of the companys liquid natural gas and 47 mln for the early months of its ownership of gulf canadas marketing assets
us rep
chairman allan hawkins said last week that bils actions were aimed only at dirsrupting the merger and were not in the interests of progressive shareholders
the company also said it does not intend to spend more than 380 mln dlrs for the shares tendered
keiaisha issuing 12 mln swiss franc notes
chrysler said holders converting debentures before the stock split becomes effective march 23 will receive a greater number of shares on a post split basis than if they convert afterwards
investor group has talks with pesch on ami ami 
those holdings are part of more than 3400 acres of mineral rights held by franco nevada in the carlin gold belt
asked if he would proceed with production controls without the support of corn refiners huckaby said you build a fragile house if you do it that way huckaby said he understands why us cane and beet farmers have expanded production because high sugar price support means returns from sugar are higher than competing crops such as soybeans and grain
the exporters had delayed in expectation of a further yen depreciation dealers said
payment is due march 31
at best it will have a small positive effect collander said in an interview
agriculture minister mutsuki kato said he will meet us agriculture secretary richard lyng here on april 17 and 20 to discuss bilateral farm trade issues
ongpin is angry because the banks granted argentina an interest rate spread of 13 16 pct the same as mexico won just weeks after telling the philippines that it must accept 7 8 pct because the mexican margin could never be repeated
qtrly div 34 cts vs 27 cts prior pay march 31 record march 16
further gains are possible if the ussr steps up its buying or if labour problems develop in north america they added
wardley was underwriter for last years billion dlr flotation of cathay pacific airways ltd of which hongkong bank owned 30 pct at the time
the sources said the government would fall far short of covering all of its 40 billion marks in lost revenue from the tax reform by making expenditure cuts and would be forced to fall back on debt markets in one form or the other
manufacturers national corps manufacturers bank wilmington said it increased the interest rate on its no fee variable rate mastercard to 136 pct from 133 pct
the shares are the entire block seized by the government from the united coconut planters bank ucpb on suspicion that the real owner was eduardo cojuangco the former chairman of san miguel and ucpb and a close associate of deposed president ferdinand marcos
the meeting was delayed so a draft compromise proposal on buffer stock rules could be completed they said
no reason was given for the delay in releasing the monthly report
the official announcement said this will include the proposal by jardine matheson
billitons mine at onverdacht between paranam and the capital paramaribo is still working but moengo remains closed and the refinery is continuing to import some bauxite the billiton spokesman said
diamond crystal dslt might sell salt unit
physio technology said the resignation of chairman james c
honeywell hon cites cost cutting for gain
the former chief currency dealer of herstatt bank which collapsed in 1974 on foreign exchange speculation in west germanys biggest banking crash can stand trial for damages a court ruled
baker yesterday moved to defuse speculation he was talking the dollar down telling a cable news network interviewer and a senate committee he stood by the paris agreement
the traders said there would be 13 mln bales of cotton carryover this fiscal year compared with just over a mln bales last year
novamin a mineral exploration company said directors would meet next tuesday to deal with the proposal which it said was subject to approval by breakwater directors
the awb said the current approach of state based bulk handling authorities is not essential although it said it favoured the authorities maintaining at least their current level of control of storage and transport as long as quality was maintained
graphic media inc gmed year net
centerior energy corp cx redeeming bonds
terms were not disclosed
theres no real reason for it to change policy said joseph liro of sg warburg and co inc
vista managemement inc said it has obtained notice of the availability of insurance guarantees on 60 mln dlrs of leasing receivable bonds of its cbs leasing subsidiary from developers insurance co allowing the bonds to be rated by leading credit rating agencies
shr 365 dlrs vs 33 cts net 825 mln vs 7300000 sales 944 mln vs 854 mln avg shrs 226 mln vs 217 mln note current year net includes pretax gain 1752 mln dlrs on sale of ophthalmic business and loss 179 mln dlrs posttax from repurchase of debt
the seven year bonds totalling 500 mln forints may be taken up by companies cooperatives and enterprises mti said
as soon as is practicable arc america will acquire american aggregates converting the companys remaining shares into the right to receive 30625 dlrs a share
it grew 83 pct last year
morgan stanley and co ms rose 4 1 4 to 74 7 8
its clear icahn wants to sell and hes bluffing said one arbitrager
the joint committee of taiwans maize importers awarded contracts to five us companies to supply a total of 462000 tonnes of maize for delivery between may 10 and october 10 a committee spokesman said
official inquiry set for australian wheat industry
the president authorised the national foreign trade council conex to resume operating as the ruling body of brazils trade policy with participation of the private sector
asked about the report by subcommittee members herrington said various proposals were under consideration and would be debated within the administration to determine which would have the most benefits at the least cost
they also agreed they needed better coordination of exchange market intervention to hold currencies stable both when they reached their fixed ems limits and within their agreed margins
between purolator and interlink in view of a takeover or participation
fellner said that under more normal conditions this would have given the bond and currency markets a pause but that they were too bullish to worry about such fundamentals
toshiba regrets link with uk access issue
mr
this anzola said would mean a reduction in the amount of the public sector debt and an increase in foreign investment
judges offer of 38 billion pesos is about five pct of the philippines yearly budget ariadnes philippine agent domingo panganiban was quoted as telling reporters yesterday
american express said 75 mln shearson shares would be held by certain employees of shearson and one mln by a shearson stock ownership plan to be formed
scientific measurement systems inc scms net
bull and bear equity income fund bulax div new york march 12 qtly div eight cts vs eight cts prior payable march 31 record march 18
based on average yields ec beet sugar production could fall nearly 10 pct this year to 135 mln tonnes from 149 mln in 1986 87 while total western europe production could be 169 mln tonnes against 181 mln
the stricken ferry the herald of free enterprise belongs to townsend thoresen which became part of p and o in january
pravda added today that the crisis in the industry had been drawn to zolotukhins attention and two of his deputies reprimanded
new credit advanced by finance houses retailers bank credit cards and other specialist providers of credit slipped to 266 billion stg in january from 278 billion in december but remained close to the average level for 1986s fourth quarter the department of trade and industry said
when the market is declining buyers seize on anything to talk down prices the spokesman said
graphics industries inc said it terminated negotiations for the acquisition of holladay tyler printing corp rockville md
the euroyen bonds once issued are mostly picked up by japanese trust banks one trader said
march 31 end shr profit 14 cts vs loss two cts net profit 345544 vs loss 48097 sales 1032224 vs 514656 avg shrs 2420925 vs 2289925 1st half shr profit 21 cts vs profit nil net profit 496714 vs profit 5602 sales 1649860 vs 1099379 avg shrs 2407334 vs 2222591 note prior half net includes 1849 dlr tax credit
operating income in 1986 fell more than 80 pct to 380 mln dlrs
the planting programme will begin this year and is aimed at producing 300 to 360 kilos per hectare of beans with a low caffeine content
in addition it reported fiscal 1986 nine months net income of 44 mln dlrs or 40 cts a share versus a loss of 11 mln dlrs or 10 cts a share in fiscal 1985s first three quarters
the two sides will meet again on friday
papandreou told the us and nato that if they had a part in orchestrating the present crisis in order to force greece to negotiate with turkey the greek government would not accept it
they said cp airs management style had been not much different from that of air canada formed 50 years ago because neither airline was held accountable to its owners
taking advantage of scarcity private roasters were selling ground coffee mixtures which were 75 pct non coffee it said
the land it is giving up amounts to about seven acrease and includes part of the reading terminal train shed it said
he said some of sudans western backers were witholding aid until an agreement with the imf was reached
the two companies have previously completed the drilling of gos iia 1 exploratory well around 14 kms south of gos ia 1
ferry disaster claims could top 30 mln stg
the communique did not identify the supertanker but said columns of smoke were seen billowing from it
scotia mortgage issues 100 mln canadian dlr bond
in addition to purchase a majority of the brescia italy based company stanadyne said it acquired a minority interest in ambacs us operation headquartered in columbia sc
the latest trade figures show norwegian imports from south africa dropped 36 pct to 160 mln crowns during the first eight months of 1986 while exports plunged 52 pct to 265 mln crowns from the year ago figure
we have seen some strengthening of those currencies but not as much as we would like he said
he said china performed very well in the export field last year and remains a very creditworthy country which will have few difficulties in increasing its borrowing
statistics bureau february figures are out tomorrow
doubts about accord seen weakening dollar further
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
delegates from 22 countries are meeting informally to discuss progress made since the latest gatt round was launched in punta del este uruguay last september
brooks also said the company would continue to attempt an exchange of technology and manufacturing agreement with fujitsu ltd if successful in its buyout bid
besides the 13 billion dlr frozen debt south africa also owes ten billion dlrs of debt that includes a significant amount of medium term liabilities that will continue to be repaid on normal maturity dates
weis markets inc wmk 1st qtr march 28 net
treasurys baker sees 15 20 billion dlr us trade deficit reduction this year
the retaliation could be triggered by a requirement that the administration investigate whether us companies were treated unfairly and whether they have been barred from bids on lucrative public works projects such as the eight billion dlr kansai airport construction
shr 15 cts net 36 mln dlrs revs 969 mln dlrs note the company said year ago figures are not comparable due to its reverse merger last year
santos said a number of oil and gas fields have been discovered in the total exploration areas and that it regards them as having very good prospects for further discoveries
international american home to acquire cos
australian treasury note tender 500 mln dlrs
vws group net profit in 1985 was 596 mln marks and parent company net was 477 mln marks
the gross domestic product at factor cost grew 24 per cent instead of the planned 29 per cent he added but gave no figures
its too late lyng told the national grain and feed association convention here
fresh talks are expected to be held early next week but the actual date has not yet been fixed he added
the press reports said this could be raised to 50 pct equal to the largest share of any japanese firm
the bill authorizes 2875 billion dlrs as the us contribution to the eighth replenishment of the international development association 5843 mln dlrs to the asian development fund and 7195 mln dlrs to buy 59648 shares of the capital stock of the african development bank
the country also bought around 30000 tonnes of ec soft wheat 12 days ago at 80 to 81 dlrs a tonne fob they said
xuto said the way is now cleared for drafting a new accord to replace the current one which expires in october
exports in february were 638 billion markka and imports 574 billion compared with exports of 672 billion and imports of 664 billion in january and exports of 692 billion and imports of 631 billion in february last year
carter hawley chh sets record date for vote
he said concrete deals had not yet been finalised as a result of a one billion dollar accord signed in moscow last month with french businessman jean baptiste doumeng
oper shr 51 cts vs 43 cts oper shr diluted 47 cts vs 43 cts oper net 3182000 vs 2462000 revs 1017 mln vs 870 mln avg shrs 6246664 vs 5671607 avg shrs diluted 7501209 vs 5671607 year oper shr 184 dlrs vs 148 dlrs oper shr diluted 176 dlrs vs 148 dlrs oper net 115 mln vs 8312000 revs 3492 mln vs 3070 mln avg shrs 6238720 vs 5616019 avg shrs diluted 6969389 vs 5616019 note 1986 net both periods excludes charge 1205000 dlrs from distribution system restructuring costs
uk money market offered early assistance
gephardt a missouri democrat has not decided the exact form of his amendment an aide said
the latest round of talks between philippine officials and the countrys commercial bank creditors on the rescheduling of 94 billion dlrs worth of debt are still proceeding but with a narrower focus philippine finance secretary jaime ongpin said
cargill uk strike talks adjourn to tuesday
texas oil regulator calls for state tax breaks
but it has taken almost six months to complete the syndication of a 75 billion dlrs loan to mexico which has created deep misgivings here about the liklihood of such large straight cash loans being assembled ever again
lawson told the committee which is a tripartite forum of government unions and industry that the pound would be kept near its present level by a mixture of interest rates and intervention in the foreign exchange markets
there were five grain ships loading and three ships were waiting to load at portland according to the portland merchants exchange
most of the rescheduling falls during 1994 1998 when 533 pct or some 1125 billion dlrs must be paid
allied named drexel burnham lambert inc and donaldson lufkin and jenrette securities corp as co underwriters of both offerings
the central bank early this week also announced that it had bought 494 pct stake in another troubled commercial bank perwira habib bank malaysia bhd after the latter raised its capital to 405 mln ringgit from 105 in mid january this year
the central bank made outright purchases of bank bills comprising 58 mln stg in band one at 9 7 8 pct 227 mln stg in band two at 9 13 16 pct 56 mln stg in band three at 9 3 4 pct and four mln stg in band four at 9 11 16 pct
ecuador stricken by a severe earthquake is seeking through negotiations with private foreign banks to postpone all payments due to them for the rest of the year finance minister domingo cordovez said
uk chancellor lawson says there may be need to cut interest rates in some countries
the company also said its board has approved a capital budget of 21 billion dlrs in 1987 including work on the vogtle project
the facility would buy up some of the debt of less developed countries and sell it to banks at a discount
the bond will improve the groups debt structure significantly keppel chairman sim kee boon said
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
the price of west texas sour was increased to 1810 dlrs
baker said that brazilian repreentatives had explained they intented to pay their commercial bank debts in full but needed time
they said the tax which applies to spanish sales to ec and non ec countries alike would no longer be required on exports from spanish ports south of valencia
marine midland bank cuts prime rate to 925 pct from 975 pct effective immediately
asked to comment on a report from new york that cutrale and citrosuco had sent telexes to customers informing of the price raise jose carlos goncalves said abrassuco was not aware of it
no further details were immediately available
non seasonally adjusted but smoothed figures show a deficit of 112 mln dlrs against 144 mln in january and 281 mln in february 1986
kanan said public investment was also near the planned level but investments by the private sector fell below expectations
m 1 a which is m 1 plus daily interest chequable and non personal deposits fell 559 mln dlrs to 7486 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposit fell 439 mln dlrs to 17730 billion dlrs
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
the mec shares will be bought from the granddaughters of the firms founder
standard commercial stobo 4th qtr net
gencorp gy to sell general tire
kahan said his early estimate for first quarter growth is around three pct due largely to a buildup in inventories reflected in the january inventory data friday which showed the largest increase since 1979
these consist of 79 mln dlrs of adjustable rate class j 1 bonds to be fully paid by november 20 2013 priced at 9980 pct to yield 749 pct
japan buys 4000 tonnes canadian rapeseed
but most economists see room for a cut in west german rates only in the first half of the year as re emerging inflation will limit room for manoeuvre later in the year
no utilisation fee will be charged if they are to pick up less than 33 pct
it was not rated by moodys investors or standard and poors at the time of the pricing stifel said
un issues report on natural gas clauses
i believe there will be some renegotiation along the way between brazil and the banks such that the banks will not have to charge off their loans to brazil merrill lynchs neuhaus commented
tommy eshleman economist for the american soybean association asa said this years brazilian soybean harvest could total 18 mln tonnes versus 137 mln last year
a rio port spokesman said the halt would cause daily losses of about 100000 us dlrs
lefevre said the divisor will probably go up a bit but will probably be lower than its current level of 0889 later in the year due to forthcoming splits in components such as international paper co ip the divisor which is adjusted whenver stocks are split dropped below one for the first time in may of last year
ina would invest about 85 mln dlrs in prospecting in the gabes area
supermarkets also said it retained shearson lehman brothers inc to advise its board of directors on the proposal
uk money market given further help at new rates
the first a part will consist of a maximum 400 mln dlrs with a maximum spread of libor plus 3 8 pct
miyazawa sees eventual lower us trade deficit
us feb durable goods rose 60 pct
he conceded that in retrospect it would have been wiser to establish separate programs for the euromarket and the us domestic market rather than try to extend the us issue globally
west german banks slowly cutting key savings rates
to expedite the transaction jp industries said it would be willing to start a cash tender for clevites shares within five days after agreeing upon a definitive merger and confirmation of clevites financial results and condition
santos alvite said earlier in quito that ecuador would have to import six to seven mln barrels of crude oil to meet its needs until the line was repaired
but komatsu is reluctant to push hard for a similar decision on a gottardo subsidiary
the investor group that has agreed to buy computerland corp will likely take the leading personal computer retailer public or sell it to other investors industry analysts said
economists polled by said that m 1 should be anywhere from down four billion dlrs to up 23 billion dlrs
we hope we can present the compromise proposal and that not only the consumer side but the producer side will accept it one official said
the soviet union produced 210 mln tonnes of grain in 1986 and the soviet press has said heavy rain has affected the harvest this year
in a newspaper advertisement the firm said the opffer is not conditioned on receipt of any minimum number of shares but is conditioned on holders of nor more than 400000 symbion sharesseeking to receive the fair value of their shares under provisions of the utah business corporation act
european community industrial output increased by an average of around two pct last year compared with 33 pct growth recorded in 1985 against a year earlier the ec statistics office eurostat said
moodys said its review of borg warner and the unit borg warner acceptance corp would focus on the effects of the proposed acquisition on borg warners cash flow and debt protection measurements
one said that the companys proposal was equivalent to a japanese company wanting to take a stake in mercury international the subsidiary of cable and wireless that is the only real competitor of british telecommunications plc btyl british corporate affairs minister michael howard leaves for japan on saturday
among the worst hit countries would be ivory coast senegal nigeria and papua new guinea the acp says
call money could come under upwards pressure later this month because of a major round of tax payments by banks on behalf of customers starting in the week beginning june 15
major us farm groups oppose policy changes
alcan said two of the cars are currently being tested in britain by the motor industry research association
if that happens natural gas will also regain some of the market share it lost to heavy fuel in 1986 and there may be slightly less growth in transport fuels
in a filing with the securities and exchange commission the group said it sold 70000 dba common shares between feb 13 and march 23 at prices ranging from 1825 to 2000 dlrs a share
us senate republican leader robert dole said congress should consider legislation to apply the so called 0 92 option to producers of major commodities
wholesale club inc whls 4th qtr jan 31 net
the us treasury said it will sell 132 billion dlrs of three and six month bills at its regular auction next week
norsk hydro is 51 pct owned by the kingdom of norway
franklin pennsylvania tax free income fund said its board declared an initial monthly dividend of six cts per share payable april 30 to holders of record april 15
i am convinced the market is going to reverse by april he told a news conference here at his return from the failed london talks
dan kaakebeen a spokesman for the dutch salvage firm smit international told by telephone from rotterdam that the vessel was just off the belgian port of zeebrugge with 463 passengers and crew when the accident occurred at 1850 gmt
because of the change in perceptions about the health of the german economy the funds from those unwinding operations are ending up in yen a dealer at one uk bank said
independent market analysis group cops in a note on bouygues said the award would represent a major diversification for the group out of the highly cyclical construction industry into the rapidly expanding media business
shr profit 45 cts vs loss nine cts net profit 98 mln vs loss two mln revs 115 billion vs 6312 mln year shr profit 326 dlrs vs profit 318 dlrs net profit 769 mln vs profit 731 mln revs 359 billion vs 266 billion
it will be open for signature at the un headquarters in new york from may 1 to december 31 this year and will enter into force provisionally when ratified by countries accounting for 75 pct of world rubber exports and 75 pct of world imports
a group led by dallas investor harold simmons told the securities and exchange commission it had reduced its stake in mcdermott international inc by one pct to under five pct
pillsbury corp reporting lower earnings for the third quarter ended february 28 said a strong performance by its foods group was offset by restaurants group declines
coleco industries inc clo 4th qtr
brasil last month suspended payments on a large part of its 109 billion dlr debt the highest in the developing world
a group of firms and funds controlled by new york investor mario gabelli said it has acquired the equivalent of 882507 shares of allegheny international or 80 pct of the total outstanding
chuquicamata public relations director guillermo barcelo told by telephone from the mine that the quake had caused no problems and operations continued as usual
though many sources agreed they added that the trend would probably not continue next year as the further tax cuts come into effect
oc birdair is a joint venture of chemical fabrics and owens corning fiberglas corp ocf and down corning a venture of dow chemical co dow and corning glass works glw chemical fabrics said once the current project backlog of dow cornings odc division is completed dow corning plans to discontinue its design engineering fabrication and installation services
higher growth unemployment in france oecd says
north american nahl sees record fourth qtr
american filtrona corp afilo 3rd qtr
the company said the equipment is for use in the laiohe oilfield 350 miles northeast of peking and will equip a 140 well program
he did not say on what he based the comment but an aide said roberts had been in touch with top republican officials recently
john lichtblau director of the petroleum industry research foundation inc said that renegotiation of the pact was more of a formality as the saudis have each company on a separate schedule although separate agreements with the companies would favor one on one negotiations and ensure that contracted liftings occur the companies will probably follow the saudi wants within limits as they do not want to antagonize them for the long haul he said
ual ual units eight year notes yield 806 pct
pactel pac sees earnings growth
longer term he added producer pressure will mount on brazil to agree to consumers export quota terms and a new international agreement could come into force next fall
in the letter general partners said it plans to maintain gencorps corporate headquarters in akron and retain the companys plastics and industrial products businesses and its tires and related products segment
us prepared to escort kuwaiti tankers
london sugar freights
new world pictures ltd said it sold 456900 shares or about five pct of taft broadcasting co common stock for a gain of 178 mln dlrs
the companys outstanding issues are rated aa minus by standard and poors corp
al chalaby is the head of the iraqi national oil company
the combined impact of costly sales incentives and foreign exchange adjustments on margins was substantial varity said
by 1228 gmt norcros shares were quoted at 418p up from 397p at yesterdays close
s k i ltd and goldmine ski associates inc said they reached an agreement calling for s k i to buy goldmines california ski area for approximately 10 mln dlrs
william taggart chief executive officer of us courier division will be chief executive officer of the new company
there is no one factor that will push us through the highs at this moment leiner said
this equals 911 dlrs per share of sovereign stock based on the closing price of chubb common stock on march 30
and the us company doe run has kept its 140000 tonnes per year boss montana smelter closed
bakers weekend blast at the west german bundesbank for boosting interest rates seemed to signal an unraveling of an international accord to stabilize currency values
trace products inc said its stock swap merger agreement with privately held central point software has been suspended indefinitely because of uncertainty in the stock market
feds johnson says fed acted to stabilize dollar
southern new england telecom sng declares div
alpha said it plans to concentrate on the high frequency portion of the electromagnetic spectrum
he said kiernan would probably head the combined company until his retirement then murray could assume the top post
bundesbank deputy president helmut schlesinger said the west german central bank had no plan to cut its three pct discount rate nihon keizai newspaper reported
in a filing with the securities and exchange commission bryson said it bought 440000 cenergy common shares on march 10 at eight dlrs each
reorganisation and redundancy costs 36 mln vs 13 mln
the company earned 330 dlrs a share in 1986
six months ended april 30 parent shr 166 yen vs 728 div 350 yen vs same net 159 billion vs 688 billion current 503 billion vs 1603 billion sales 80402 billion vs 83920 billion oustanding shrs 95500 mln vs 94415 mln
analysts said those factors make cotton a profitable crop
but even a net loss of this magnitude has very little bearing on the day to day operations of dome chairman macdonald said
saudi oil minister foresees no need for new opec measures before june 25
italy expresses willingness to support brazil
asked if the companys sami business is for sale munro said it is a delicate subject and were looking at all the options sami is a marketing information service for the food industry
at the same time the deal benefits the banks which will still get a reasonable return on the note facility which is pure italian risk
the merger took place in december and western has been operated as a delta subsidiary since then
the us agriculture department is seeking public comments on the question of adjusting the commodity credit corporations ccc discount and premium schedules to improve the quality of grain it accepts as loan collateral or under price support programs
shr loss 18 cts vs loss 20 cts net loss 629527 vs loss 697847 revs 404345 vs 1558951 year shr loss 56 cts vs loss 181 dlrs net loss 1910063 vs loss 5744588 revs 5999377 vs 6347702 avg shrs 3441513 vs 3175402
corrected philippines criticises ec for oil levy
however bankers did not anticipate any accounting problems for this novel interest payment method
an investor group challenging the los angeles license would also receive 103 mln dlrs from disney
world bank figures show approved lending to china by the two bodies amounted to 1137 billion in 1985 86 1102 billion in 1984 85 and 104 billion in 1983 84
loans to finance property development and instalment mortgages rose sharply
but he said the market is sensitively looking at what is happening in major nations
ec warns us and japan on trade tensions
us agency to allow us air to buy 51 pct of piedmont pending final okay of merger
wall street traders said uals stock soared in response to the the proposed 46 billion dlr buyout offer by united airs pilots union and on a general rise in air fares throughout the industry
australian current account deficit narrows in feb
traders said many investors anticipated an announcement this weekend that it would spin off shearson lehman
bankers said the central bank governors would meet soon to discuss the issue adding there was a possibility that a new system could be submitted for final approval to a gcc summit conference scheduled to be held in saudi arabia late this year
the department said the additional guarantees provide up to 310 mln dlrs in coverage for sales of protein meals 90 mln dlrs for tallow and 440 mln dlrs for vegetable oils
delegates and traders said they expected the manager juergen plambeck to intervene in the market within three weeks of the pact coming into force
texaco shares were being indicated by over the counter share dealers here at around 26 to 28 dlrs compared with fridays close in new york of 31 7 8 dlrs
for the year ended july 31 1986 gelco reported pre tax operating earnings of 148 mln dlrs or 108 dlrs a share
the idea of linking the six currencies has been debated since the start of the gcc
the debentures are convertible into the companys common stock at 3625 dlrs per share representing a premium of 2775 pct over the stock price when terms on the debt were set
spk said kampuchea planned to expand planting from 15 mln to 193 mln hectares and boost rice paddy output to 25 mln tonnes this calendar year
intel intc unit sells notes at 818 pct
they ignore for example the relative volatility of the particular currencies involved in exchange rate contracts
venezuela to announce new debt conversion plan
manila originally offered to pay interest in cash at 5 8 over libor or in a mixture of cash and pins tradeable dollar denominated zero coupon notes that could potentially yield up to one point over libor
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
uk money market offered early assistance
with countries like indonesia and malaysia stepping up production of palm oil a coconut oil substitute palm oil output had risen nearly 70 pct since 1971 romero said
they will also provide equal shares in 63 billion yen in new investment in the albras amazon aluminium project in brazil in addition to the 457 billion yen already invested
prospects for continued economic growth through 1987 and into 1988 are still quite favorable he said
southeastern asset management inc and its two controlling shareholders said they sold their entire 56 pct stake in allegheny international inc
earlier this year usda extended the deadline to april 1 from march 1 sitter said
bat chairman patrick sheehy told a news conference that the tobacco sector of the company had declined to 50 pct from 74 pct four years ago
further details were not disclosed
the bond pays interest annually on march 25 and matures on the same date in 1992
it added that jacques stern bulls chairman and chief executive officer will serve as honeywell bulls chairman of the board while jerome meyer formerly executive vice president of honeywell information systems was named president and chief executive officer
chrysler corp said it made 98648 cars in the us in march down from the 115540 cars it produced in the same month last year
protein databases inc said millipore corp through its venture capital subsidiary millicorp acquired an equity position in the company
the program will affect drilling done anywhere in canada on or after april 1 1987
the company said it is now entitled to subscribe for all the authorised but unissued and unreserved shares of common stock of cyclops which total some 54 mln shares at 9025 dlrs each
the cabinet has approved a finance ministry plan to raise the amount of outstanding government bonds as a percentage of the total budget in financial year 1987 88 starting july 1 to meet growing demand for funds for major construction projects a cabinet official said
it said the project will raise its bisphenol a which is used to make polycarbonate and epoxy reins capacity to 192 mln pounds per year from 165 mln pounds now
one of four major japanese securities house bought 395 pct of the total 10211 billion yen in bids accepted ministry sources said
on schilling lending profit on interest had risen 18 pct to 219 billion schillings while commission earnings climbed 87 pct to 7389 mln
imports were 261 billion dlrs against 253 billion in february and 196 billion in march 1986
perus debt obligations hit 63 billion dlrs in 1987
they said chung would leave for washington on monday to attend the international monetary funds imf interim committee meeting and for talks with us officials on ways of reducing seouls trade surplus with washington
security is has been and continues to be a highly profitable and obviously well managed company he said
the company said mark iv currently owns at least 176 pct of baird stock and has indicated that it may attempt to acquire baird
ta chung hua rubber factory of shanghai will raise a 30 to 35 mln us dlr loan to expand and modernise its plant arranger ccic finance ltd said
k mart said it will continue to operate the stores until early june when mccrory will take over with no interruption of service
in its control application twa had acknowledged that additional documentation was required to meet dot rules and said it would file more material on the morning of march 9
for this purpose the conference decided to establish a committee of three heads of delegation to undertake visits to member countries in order to motivate them to comply with the terms of the agreement moreover the conference stressed the necessity of the cooperation of the oil producing exporting countries outside opec as an essential prerequisite for a lasting market stability
average price was 98217
odgers said mercury was seeking to make inroads into some of british telecoms most profitable areas
chemlawn gave no details on the talks
he told the 8th antwerp oils and fats contact days that in the next oct sept 1987 88 season palm oil use will rise to 825 mln tonnes from 771 mln below the five year average increase of 550000 tonnes
dealers said the announcement had to be viewed against the backdrop of intense pressure for lower uk interest rates which had built up over the past two weeks as a result of sterlings strength
louvem said it could exercise the option for itself or for a third party
the group said it reconsidered its takeover plans after the company announced it agreed to a stock swap
morrison sees 1987 earnings at 125 dlrs and 1988 at 175 against losses in 1986
we are looking again at the undertakings that we have demanded of existing bidders and which we would seek of any future bidders the spokesman said
moodys investors service inc said the debt ratings of people express airlines inc remain under review for possible downgrade
we expect that once the term sheet is received and analysed by the banks it will be approved in a relatively short time azpurua said
this compares with the banks upward revised shortage forecast of around 500 mln stg
kansas gas and electric co kge february net
degussas contribution to the exploration budget will be based on it matching international platinums past exploration and acquisition costs estimated at about two mln dlrs and then contributing on a pro rata basis international platinum said
triton will become a subsidiary of messidor it said
in january he said edf may not issue more than 300 to 500 mln dlrs of paper this year
its getting a little confusing said james carroll analyst at painewebber group inc
i think the predominant feeling is of being scared this conflict will escalate a top west german foreign ministry official helmut schaefer told reporters in bahrain after a tour of three gulf states
dow chemical dow to sell south african unit
usda said the increased purchasing is somewhat surprising because of recent higher soviet crop estimates
a foreign ministry official in tokyo said japan urges price realism in commodity pacts adding high prices inflate supply
a spokesman said the company now has about 70 employees
italian net official reserves fall in may
taft said the board concluded that the offer failed to recognize fully the future propsects of the company and directed management to explore alternatives including possible financial restructuring
ecuadors cepe names new head
only farmers with a record of growing suger beet have been allotted quotas
mauritius lifts duty on textile related goods
it was not a decision making meeting lyng said
shr loss two cts vs profit two cts net profit 253000 vs profit 356000 revs 175 mln vs 123 mln nine mths shr profit one cent vs profit 21 cts net profit 628000 vs profit 2921000 revs 549 mln vs 360 mln note 1987 qtr and nine mths includes gain 106000 dlrs or one cent per share and 846000 dlrs or six cts per share respectively from utilization of tax loss carryforward
note net is after tax paid 4685 mln dlrs vs credit 502 mln interest 12768 mln vs 11719 mln depreciation 10929 mln vs 10073 mln and minorities 150 mln vs loss 331000
in the same year ago period goodyear reported a loss of 64 cents a share from continuing operations
swedish industrial production falls in january
price alone was not the only factor in international competitiveness he said adding german firms have a reputation for high quality standards prompt delivery times and good service
prospects for another near record grain harvest in the soviet union appear dim at this point but it is premature to forecast any major crop problems analysts said
us lead inventories rise in february abms
estimates for total crop ranged from 23 to 26 mln tonnes down from 24 to 27 mln tonnes estimated last week and down 341 to 415 pct from last years record harvest of 41 mln tonnes
it forecast end 1987 stocks at around 290000 tonnes
we have nothing in hand she said
lilly lly cuts liposome co lipo stake
however this upturn in the thai crop is being countered by a reduction in chinas production forecast to 53 mln tonnes from 55 mln estimated earlier
total estimated crude oil production in california for 1986 was 408 mln bbls compared with 424 mln bbls in 1985 and 405 mln bbl in 1983 according to the california department of conservation
joskes has 26 stores in texas and one in arizona
the paris agreement has so far successfully stabilized currencies with the threat of central bank intervention economists said
the venture has become a developer and manufacturer of high performance high capacity data storage products sold by control data to computer systems manafacturers worldwide it said
lotus lots to acquire computer access corp 
all banks had significantly strengthened their capital base most european banks had made considerable provisions against bad debts while goverments and central banks were better prepared for unforseen difficulties
blinder international binlc loans 4 mln dlrs
one trader said some west african producers are annoyed the buffer stock manager is not playing his part as required by the international cocoa pact to stabilise prices from current lows
the panel also approved measures that could trigger larger corn and wheat acreage reduction requirements increase farmer held reserve storage payments reduce a potential milk support price cut and require advance deficiency payments for producers of major crops
the reduction follows similar moves from the three other british clearing banks
mathematical applications said it is talking to debenture holders its landlord a lessor of equipment to the marketing operation and holders of other liabilities not being assumed by pagex to arrange distribution of assets after the proposed sale adding that these assets will be significantly less than its liabilities
the notes which are non callable are available in denomnations of 1000 and 5000 dlrs
the bank of england and fed said they had faced a dilemma
president reagan ordered the study last september citing a determination that the country never again become captive to a foreign oil cartel referring to the opec led oil shortages and sharp prices increases of the 1970s
it said the venture will rename the hotel the four seasons biltmore at santa barbara and invest over 13 mln dlrs in improvements on the 228 room property
kaiser aluminum klu raises product prices
the filing was made in the names of texaco inc texaco capital inc and texaco capital nv moodys noted
but the diplomats said a protectionist lobby in the us and elsewhere was using the proposal as an excuse to promote anti ec action and the foreign ministers debate should demonstrate the strength of feeling against the proposal within the ec and deprive its oponents of this argument
chinas trade deficit in the first quarter fell to 105 billion dlrs from 304 billion in the same 1986 period customs figures show
one possibility is that baker might turn to george gould who holds the number three treasury position of under secretary
the sanwa bank ltds three year business plan foresees securities and international operations making a greater contribution to operating profits a bank official said
smith and nephew comvertible increased fixed
palmer lewis co inc lwis 4th qtr net
the company said its operations are performing well and in line with expectations
us energy secretary proposes oil tax incentives
us money managers may lean to stocks vs bonds
it said the effect of trade disputes between the united states and the european economic community on the west german economy and the higher value of the mark may lead to increased costs which could not be offset by price increases
this mornings announcement sent the dollar into a tailspin which was halted only by concerted central bank intervention in the open currency market
todays dealings in spot currencies are booked for march 31
kistler said that under those terms the trustee could take up to 10 years to complete the sales
oper shr six cts vs one ct oper net 194109 vs 28751 revs 2731688 vs 347134 avg shrs 3360527 vs 2295359 nine mths oper shr 11 cts vs five cts oper net 356571 vs 111545 revs 5923907 vs 1491852 avg shrs 3296982 vs 2289762 note share adjusted for 10 pct stock dividend in december 1986
lennox will retire march 31
the institutes said total subsidies including tax preferences had reached 80 billion marks in 1985 and risen further since then
in recent statements poehl has sounded more like schlesinger
what will be the standard octane level in various grades of unleaded gasoline asked dunham
were in a fairly wet pattern with normal to above normal moisture this week mohler said rainfall averaged 1 2 inch across southern minnesota 3 4 inch over southwest iowa one inch in eastern nebraska and 1 1 2 inches in south central nebraska
geodome resources ltd said following receipt of a feasibility study from raytheon cos rtn stearns catalytic unit it will proceed with construction and pre production stripping at its sunbeam mine in custer county idaho as quickly as possible
muramatsu said nissan is studying the possibility of setting up its own finance company to improve access to us and european capital markets
the economy is moving between extremes he said
it is projecting a current account deficit of 22 billion dlrs after one of 24 billion last year
eurotunnel the anglo french channel tunnel consortium will offer potential backers a wide choice of ways to invest in a planned 750 mln stg capital issue later this year co chairman alastair morton said
cook united inc said it expects to report a loss a loss of 16 mln dlrs before an extraordinary credit of 44 mln dlrs resulting from its chapter 11 reorganization on sales of 217 mln dlrs for the year ended january 31 1987
usda 1986 87 us orange crop 190050000 boxes florida crop 122900000 boxes
beneficial corp bnl debt ratings cut by s p
the ugandan government depends on coffee export duties for about 60 pct of its sales tax revenue and the industry employs over half of salaried manpower
many have suggested that the larger us banks should take on the additional obligations but so far they have resisted this
were under no illusions about the legal binding force of these recommendations he said
skyline said it is optimistic the approval in principal will be received in late june by which time it expects to have confirmed threshold tonnage and grade targets so construction can begin in july
the problem is higher rates are attracting liquidity from abroad he said this was why the central bank enacted specific measures to control the inflow of foreign capital
the value of trade between china and taiwan via hong kong fell 13 pct to 745 billion hk dlrs in 1986 from 859 billion dlrs in 1985 hong kongs census and statistics department said
he said it received an order for one set from aluminium bahrain bsc last year and expects further orders from the bahrain smelter
preliminary figures for may show m 3 at 8324 billion rand for a year on year rise of 1097 pct from 7501 billion in may 1986
bancroft said its complaint alleges that zicos tender offer materials include false and misleading information and that the offer violates the investment company act of 1940
they expressed optimism about the current state of affairs one participant at the meeting said
the locals bargaining committees are expected to meet and prepare for the reopening of negotiations with cominco he said
shr 25 cts vs 23 cts net 670105 vs 599107 revs 214 mln vs 201 mln
bank of japan intervenes buying dollars at around 14730 yen dealers
rochester telephone corp said it completed the acquisition of canton telephone co and is now operating the company
metropolitan monyo to make offer for metex
wang laboratories said it signed an agreement with desk top financial solutions inc giving wang the right to market the desk top financial planning system for wangs office information systems ois product line
moscows decision at that time to reenter the us corn market strengthened the perception of warming farm trade prospects
shr 25 cts vs 55 cts net 13 mln vs 2460000 note 1987 1st qtr includes loan write offs at banking subsidiary the colonial bank of mobile due to loan losses of 13 mln dlrs or 25 cts a share
she said that the fed bought bills maturing in june and july and on august 27 and september 10 for regular delivery tomorrow
pay date is april 21
uk money market deficit forecast revised upwards
the hughes board made a counter proposal that the two companies first find acceptable buyers for the businesses before signing the decree
the bank expects to be conducting open market operations as usual and after these operations daily cash balances should fluctuate around 30 mln dlrs
us bonds could benefit due to a gloomy economic picture following the estimated huge losses in stocks by major us institutional and individual investors he said
in 1986 it said restructuring helped improve its financial capabilities
private consumption rose 41 pct during 1986 against 27 pct in 1985 whereas the finance ministry had expected an increase of only 36 pct
us sugar imports down in latest week usda
production costs are likely to rise again in the years ahead as the glut of alumina capacity vanishes and electricity suppliers take a more aggressive line with aluminium companies according to the review
he said he expected amendments to the bill also would cover defensive mechanisms such as green mail and poison pills
he also doubted the popularity of american express plan to link interest charges on the new optima card to the bank prime lending rate
mtech mtch to offer convertible debentures
the strategy has drawn a serious challenge from brazil which suspended interest payments on 67 billion dlrs of commercial bank debt last month
african bank official confident on loan repayments
as far as i am concerned and the company is concerned they are rumors and were not commenting on rumors spokesman michel dufour told in response to a query
the company said its primary focus of 1987 spending would be to modernize and automate its pipelines for greater efficiency
his holdings are also under sequestration
channon said there was a greater protectionism sentiment in congress since his visit here last year as congress and the administration tried to find ways to reduce the us trade deficit which last year hit a record 1698 billion dlrs
trade sources said colombias coffee was today quoted at 114 dlrs a lb in new york its second lowest price in the past 10 years
spokesmen for some japanese electronics firms said they would consider buying more us chips
commerzbank ag cbkgf said it will acquire linotype gmbh europes largest manufacturer of type setting and printing communications technology from allied signal inc aldn and float off the shares in the company
they said cpc made the recommendation to the cabinet and is now awaiting its approval
great atlantic gap withdraws dechamps bid
kebo is in turn 60 pct owned by investment ab beijar of sweden
i do not know how i come down on this preliminary injunction gordon said after listening to arguments by attorneys for 1 1 2 days
the us has been pressing japan to discuss the rice issue at the new round of general agreement on tariffs and trade talks
in 1985 for example exports increased by 91 pct
a market loan for grains and soybeans would encourage more production especially in high yielding areas would be much more expensive than the current cotton and rice marketing loans and not increase exports significantly he said
he said the tire business which the group wants to keep may be more viable if merged with another tire company
the government last week revised its forecast up to between 24 and 25 pct from two pct against last years 21 pct
universal holding corp uhco 4th qtr loss
the earlier move by purolator to sell its canadian unit formed an important part of a company restructuring program adopted after another canadian company unicorp canada corp acquired a 126 pct stake in purolator and said it would consider acquiring the whole company
under the agreement dated april 28 vr business agreed to sell 5008120 shares of common stock and 11846 shares of 10 pct cumulative stock
there is not likely to be a problem of availability as the us has a huge scrap reservoir and this is also true of several european countries albeit on a smaller scale
taiwan said it plans another round of tariff cuts possibly within a month to try to narrow its trade surplus with the us vice finance minister ronald ho said a high level economic committee recommended tariff cuts on 66 products requested by washington including apples chocolates and fruit juice
the company also said it will receive a qualified opinion from the auditors of it 1986 financial statement subject to the outcome of two suits
however the remittances have begun to fall after the drop in oil prices in recent years leading to the spectre of a balance of payments crisis for pakistan
the agreement was announced in february and gould expects the transaction to be completed by the end of april
non interest expenses rose to 3711 mln dlrs from 3035 mln dlrs with more than half the increase related to personnel costs morgan said
ghana has lifted a ban on rice and maize imports due to crop problems caused by unusually dry weather the official ghana news agency gna reported today
pittway corp pry 4th qtr net
indonesia is the largest recipient of adb lending
the original concession appears to have a substantial amount of gold bearing material containing about 2 grams or 6 100 ounces of gold per metric ton
the notes have an 8 1 2 pct coupon and were priced at 9950 to yield 96 basis points over comparable treasury securities
manufacturing hours fell to 409 per week from 412 hours in february but overtime hours increased to 37 from 36 the departments survey of households showed the number of unemployed stood at 785 mln out of a work force of 1192 mln
payment is due on march 25
by 1992 93 bass strait output is expected to be just over half the 1985 86 level assuming a number of so far undeveloped fields are brought on stream and enhanced recovery from existing fields goes ahead benbow said
commercial metals co cmc sets qtly dividend
company also gained 24 mln dlrs or four cts a share in fourth quarter 1986 and 159 mln dlrs or 26 cts a share in full year 1986 from adoption of accounting rule sfas 87
recent cold temperatures in grain areas in which the snowcover has been gradually melting could also have caused problems of ice crusting and winterkill jim candor senior forecaster for accu weather said
the report dated april 2 said chinese imports this year are projected at 300000 tonnes unchanged from last years level
la electricidads problems stem from the governments decision in december to set private debt payments at 750 bolivars per dlr instead of 43 adding 74 pct to the debt in bolivar terms
taking the first two months of 1987 together imports in value terms fell 14 pct to 626 billion marks compared with a year earlier
the effect of these sacrifices meant that market stability though restored to a good level was still under pressure al wattari said
i hope opec will follow a very conservative attitude in terms of volume decisions lajous said
spethmann also categorically denied a magazine article published this week which spoke of a dispute between him and heinz kriwet management board chairman of thyssen stahl ag over planned job cuts in steel plants in the ruhr area
the debt talks in new york are being headed by argentine finance minister mario brodersohn and are expected to last for several days
1986 qtr and nine mths includes loss 4850000 dlrs or 23 cts per share and 146 mln dlrs or 70 cts per share respectively from payment of preferred dividends
boliden ab blds st 1986 results
lawson calls intervention proof of stability goal
the firm liquid and gas transport bv lgt employs 10 people and has a fleet of 200 gas containers
the napm said that if this average were to continue for the rest of 1987 it would be consistent with real gross national product growth of about three pct
shr profit five cts vs loss 23 cts net profit 916000 vs loss 2886000 revs 200 mln vs 282 mln
the consolidation is expected to be complete by june one and the company said it is now focusing on restructuring its balance sheet
he said the turkish research ship sismik 1 escorted by an unspecified number of warships would sail into disputed waters in the aegean sea tomorrow morning
american variety international inc said its agreement to acquire first national entertainment corp has been terminated because first national was not able to fulfill terms of the agreement
as a result of the payoff of the other loan naples will have a first lien position on all of puntas holdings
shr 91 cts vs 125 dlrs net 8710000 vs 117 mln avg shrs 9526287 vs 9362379 note share adjusted for 10 pct stock dividend in may 1986
but dealers said they expected the bundesbank to fully replace the outflow with a new tender at a fixed rate of 380 pct
daiwa became the second foreign firm to manage an offering in the domestic debt market in september 1986 when it won in competitive bidding 125 mln dlrs of 10 year first mortgage bonds of general telephone co of california a unit of gte corp gte it followed the lead of ubs securities inc the us unit of union bank of switzerland
the report describes the facilities in darlington county sc and fayetteville nc the company said
concerning speculation that two billion dlr price tag for celeron was too high mercer said there is no fire sale going on here and we can continue to keep celeron as a profitable operation throughout the year mercer said the expected 1st quarter operating profit was based on the new share total after goodyears share repurchase last year to fend off sir james goldsmiths hostile takeover bid
until now car phones have been linked with land stations and have been limited mainly to urban areas
the company also said it set up a venture with holland systems to develop and market an integrated line of information management products and services
its sumitomo been bold in its strategies said kleinworts smithson
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
bryson has request detailed shareholder information from cenergy in case it decided to communicate with shareholders
qtrly div nine cts vs nine cts prior pay may 1 record april 9
american variety said it is reevaluating its record and tape library for possible conversion to compact discs
morrison knudsen corp said black river constructors a joint venture with martin eby and a subsidiary of hunt corp has received a 517 mln dlr construction contract from the us army corp of engineers
new foreign shipbuilding orders received by japanese yards in may fell to five vessels totalling 188900 gross tons gt from eight ships of 314000 gt in april against four ships of 104500 gt a year earlier the japan ship exporters association said
washington will have to take into account that for many countries and some of its allies for instance in central america a sharp fall in coffee export revenue would have far reaching political and economic consequences arango ruled out a fresh colombian initiative on export quotas saying producers had now to show a common resolve which could emerge from continuous contacts
the official press has reported that farmers fear farm policy may change and they are putting their new wealth into building graves memorial halls for ancestors and homes
in its first year as a member of the european community portugal recorded a deficit of 981 billion escudos in its trade with the other community states compared with a deficit of 24 billion escudos in 1985
shr 104 dlrs vs 83 cts net 517 mln vs 394 mln
manufacturing industry registered a 3 1 2 pct rise in production in february compared with january
dart group raises supermarkets general sgl bid
oil minister abdel hadi kandeel last week said egypt plans to leave its oil production of 870000 barrels per day unchanged for the next five years
the readers digest association inc said it sold its subsidiary source telecomputing corp to the venture capital firm of welsh carson anderson and stowe the purchase price was not disclosed readers digest said
ny cocoa traders still cautious on icco
new zealands inflation rate could fall to eight pct in the coming year prime minister david lange said
capital bancorp capb sees gain on unit sale
overfunding in 1986 87 has removed the need for a may tender he said
in return the us agreed to hold up imposing anti dumping duties on japanese semiconductor shipments
cuba was reported to be carrying 13 mln tonnes of stocks in september 1985 of which some 440000 tonnes were used to boost its 1985 86 exports to about 69 mln
he also said japans ruling liberal democratic party has justed adoped a package to reflate the economy while other nations are not supposed to produce new measures in a short period since the paris agreement
burma says debt service ratio falls to 488 pct
jordan and sudan signed a barter trade agreement under which they will exchange 100 mln dlrs worth of goods a year sudanese officials said
onyx earlier reported a 1986 net loss of 106 mln dlrs after a 103 mln dlr writedown on oil and gas property values compared to a 13 mln dlr profit in the prior year
the federal reserve entered the government securities market to supply temporary reserves indirectly via two billion dlrs of customer repurchase agreements a spokesman for the new york fed said
reichhold said it is seeking the sale to focus on its adhesives business
the speaker asked all three men about the risks to latin american democracy and the danger that demagogues of either left or right could wrest control and halt debt repayments
the departments annual report for the year ended march 31 1986 showed exports insured by the department fell to 157 billion stg from 174 billion the year before while its debt to the exchequer almost doubled to 756 mln stg
emphasising the impact of mortgage rates on consumer prices lewis said a one point cut in building society rates would reduce inflation in britain by about 04 pct
the bank of france said it set a money market intervention tender today to inject funds to the market against first category paper
it gave no reason for the sales
over the past year several other leading non opec producers including the soviet union mexico china malaysia and egypt have also pledged support for opecs bid to keep prices stable
the treasurys operating cash balance totaled 9212 billion dlrs on april 6 compared with 8880 billion dlrs on april 3
japan and the us kick off top level trade talks tomorrow amid signs officials from both sides are growing increasingly irritated with each other
it also said it cut long term debt in 1986 to 900 mln dlrs from 13 billion dlrs at year end 1985 and management changes and staff cuts have significantly reduced costs
total daily borrowings in the week fell 99 mln dlrs to 591 mln dlrs with extended credits down 35 mln dlrs at 230 mln dlrs
the central bank has been keeping extremely careful watch on exchange rate movements since last week he said
analysts see another draw reflecting historic seasonal trends
but ortiz mena said latin america and the non regional members including europe and japan had all supported a 40 pct veto level
the company said it has been approached by a number of parties in recent months
borg warner also has an automotive parts business and a protective systems business which includes wells fargo security guards
he said the 12 bank advisory committee sent telexes of the accord to the countrys 483 creditor banks and he expected documentation and agreement from all of them by july
unless we get the budget deficit down we will not get the trade deficit down he did not elaborate on his views of the linkages between the two deficits
rain and floods in india last year damaged about 69000 tonnes of grain intended for human consumption during storage and transportation food and civil supplies minister h
jc penney co inc said it signed a letter of intent to acquire one mln shares or a 20 pct equity interest of beebas creations inc beba for 1875 dlrs a share
it said more than half of the quarters downgrades were in the industrial sector affecting 25 billion dlrs of debt
gaviria said lower coffee prices this year could mean a loss of 15 billion dlrs in revenues for 1987
fellow opec member venezuela has already agreed to lend ecuador five mln barrels of crude to be repaid in kind after 180 days to help meet its domestic consumption needs
inflation as measured by the index rose to 175 pct over the 12 months to the end of february compared with 166 pct last month and 245 pct to the end of february 1986
spectra physics said the two ciba geigy designess to its board were not present at yesterdays special meeting which voted to reject the offer as financially inadequate unfair and not in the best interests of spectra physics or its stockholders
qtly cash distribution five cts vs five cts prior pay april 15 record march 31
the previously announced negotiations began last august the company said
money supply is well under control
the firms properties consist mainly of the taikoo shing residential development and two luxury housing projects
i think they are beginning to appreciate that if this relationship is to continue it is very important for them to be fair and open about access to their own markets on the question of the british firm cable and wireless plc cawll which is trying to win a significant share of telecommunications contracts in japan howard said he had told the japanese this was being widely regarded as a test case
the world banks policies prevent it from lending money for the transfer of land from landowners to the landless but it can help finance development of the philippines proposed land reform program a bank official said
the bank said the purchase effective tomorrow is for five pct of private paper and fixed rate treasury bills maturing between march 25 and june 25 and of other treasury bills maturing between march 25 1987 and march 25 1989
imports from the us would drop due to active sales drives by other suppliers the official who declined to be named said
the company said it presently has 24614352 common shares outstanding
he said the government then began importing refined sugar at world market prices and reselling it at a huge profit and the provisional military civilian government that replaced duvalier last year continued the policy
btr plc btrxl 1986 year
sharon steel corp said it extended from march six to march 31 the expiration date for its debt exchange offer to allow time to complete the sale of its mueller brass co unit and to meet other conditions of the offer
charter co 4th qtr net profit 1188 mln dlrs vs loss 13 mln dlrs
possis corp said its board approved a 100 pct stock dividend payable may one record march 27
parent company net profit last year rose to 995 mln francs against 711 mln in 1985
we want the un peace initiative to work if theres any chance at all he said adding that the action made it clear tougher steps would follow if iran to attack gulf shipping
i think its certainly on the low end of relative values of airline deals said pettee
it processes in excess of 500000 tonnes of beet a year out of an annual beet crop of around eight mln tonnes
euratom is issuing a 145 mln ecu eurobond due april 24 1997 paying 7 3 8 pct and priced at 101 1 8 pct lead manager banque paribas capital markets said
sheppard resources inc said it signed a letter of intent to merge with breast centers inc an owner operator and franchiser of clinics that provide services for the early detection of breast cancer
us oil tax would not affect pdvsa champlin deal
the indian state trading corp stc are reported to have taken three parcels around 5000 tonnes each of palm olein at yesterdays weekly vegetable oil tender traders said
the latest bank debentures at 46 pct have met strong end investor demand on the prospect of further declines in yen interest rates dealers said
he disclosed that his country the worlds biggest cocoa producer and the third largest for coffee would spearhead an african initiative to reach a compromise formula by the end of next month
the bill also extends us authority to negotiate multilateral trade agreements
fundamental management chairman carl singer was recently elected to the robeson board
they said the fed is reluctant to lower short term rates for fear this would spur expectations of a weaker dollar and higher inflation which would push up long term yields and choke off econmomic growth
as with the 65 previous eep initiatives the export sales would be subsidized with commodities from the inventory of the commodity credit corp and made at competitive world prices usda said
the increase brings west texas intermediate to 900 dlrs a barrel and west texas sour to 1810 dlrs a barrel
standard trustco said it expects earnings in 1987 to increase at least 15 to 20 pct from the 9140000 dlrs or 252 dlrs per share recorded in 1986
domestic business was also declining and orders for west german engineering goods have been falling since july 1986 dieter said
dumez is a private company owned jointly by dumez sa and unicorp canada corp
gross revenues from the first six projects are expected to exceed 500 mln dlrs over their life cycle york said with revenue and income expected to start flowing in 1988
i am not sure we can wait until late april he added
the soviet union has called for changes to the way the iso budget is shared out
to enroll in the 1987 feedgrains program farmers have to set aside 20 pct of the program acreage base and have the option to idle an additional 15 pct under a paid land diversion program
scherer said one of its directors richard manoogian said he will buy 200000 shares of the preferred stock at the same 25 dlrs a share
the warrants are exercisable from the april 2 payment date until march 2 1989
viner and co brokerage said it sold 579600 shares since march 5 leaving it with 157000 shares or 18 pct of the total outstanding
he said some benefits of a new management information system will be felt in 1987 and more substantially in 1988
stanhome inc sth raises quarterly two cts
the bill would permit winter wheat producers prevented from planting their 1987 crop last fall to receive 92 pct of the deficiency payments they would have received
a us government trade official responsible for coffee policy said prospects for an accord on coffee quotas are still uncertain despite recent colombian efforts to bridge differences between producers and consumers
chevron corps domestic oil and gas unit chevron usa said it will honor american express cards at all of the companys chevron outlets but only some of its gulf branded outlets
similarly the senate budget committee has approved a plan that would cut federal red ink by about 37 billion dlrs next year
in the year to january inflation ran at 1024 pct after an 113 pct rate a month earlier and 972 pct a year earlier
belief is growing that freight rates will not decline sharply from current high levels even in the usually sluggish summer season because the soviet unions chartering is seen continuing five to seven months from april one source said
non callable to maturity the issue is rated a 3 by moodys and a by standard and poors
he said if outside directors approve the management proposal a merger plan could be put to a vote of shareholders with proxy material going out late this week
current profits are projected to fall 44 pct in 1987 88 on sales seen increasing by 42 pct it said
the company also said it will open two new reprographic centers in the washington baltimore area within the next three weeks brining the total there to 11 and a new downtown boston location in the same time period brining the number in the boston area to four
mark iv industries inc iv which has said it is mulling a bid to seek control of baird corp said it has no present plans to acquire more than 25 pct of the companys total outstanding common stock
so far in the current year the investment volume of the parent company and the world group is exceeding that in 1986 basf said without giving concrete figures
in a filing with the securities and exchange commission ben shirley branch also said he bought 52025 shares of class a cumulative convertible preferred stock or 59 pct of the total for 160000 dlrs bringing his total investment in both preferred series to about 330000 dlrs
the tokyo metropolitan government said it would float a 100 mln dlr 10 year bond with a 75 pct coupon in new york its first yankee bond issue in 21 years
the transaction is subject to negotiation of a definitive agreement approved by the baker and camco boards and by the us department of justice with which talks are already taking place concerning the combination of baker and hughes tool
entertainment marketing also disclosed that it retained drexel burnham lambert inc as its financial advisor and investment banker
he also suggested a line item veto which allows the president to veto parts of bill without rejecting all of it to limit wasteful spending
carolian previously reported fiscal six month profit of 12933 dlrs excluding an extraordinary loss of 17210 dlrs compared to earnings of 69829 dlrs in the prior year
non accruing loans at the end of march were 239 billion dlrs 135 billion excluding brazil compared with 135 billion at the end of 1986 and 122 billion at the end of march 1986
broadly based m 2 money supply rose 16 pct to 3095 billion dlrs during december after a 17 pct rise in november bringing year on year growth to 100 pct for the year ending in december against 102 pct for the year ending in november
shr 22 cts vs 17 cts net 1232000 vs 834000 sales 241 mln vs 209 mln avg shrs 5609000 vs five mln year shr 97 cts vs 69 cts net 4985000 vs 3426000 sales 924 mln vs 779 mln avg shrs 5153000 vs five mln
shr four cts vs four cts prior qtr pay may five record april 15
att has long pushed for deregulation of its long distance business the profits of which have been limited by a regulated rate of return on the companys investments
the report said the reduction in iraqi air attacks on iranian export facilities allowed irans output to reach 22 mln bpd in january but buyer resistance to fixed prices apparently cut february production
the iranian steam tanker avaj 316379 tonnes dw was attacked and hit at 1715 hours on march 21 lloyds shipping intelligence service reported
subscriptions for this second tranche close april 14 and payment date is april 27
the indian state trading corporation stc bought 20000 tonnes of optional origin soybean oil and 6000 tonnes of rbd palm olein at its import tender yesterday traders said
china closes second round of offshore oil bids
of the total exports fell 105 pct to a rounded 210000 but domestic sales increased to a rounded 154000 from 137180 in 1985
he said that the official loans are being serviced and that this was a result of the rescheduling
we will not continue to hurt ourselves economically and subsidize foreign wheat production by unilaterally stocking grain and changing programs which protect our growers jim miller president of nawg said
william bywater president of the international union of electronic workers called on president reagan to retaliate against japan for unfair practices in semiconductor trade
there is a 1 3 8 pct selling concession and a 5 8 pct combined management and underwriting fee
net interest 11 mln vs 153 mln
several analysts said they do not believe another suitor will top the 265 mln dlr bid for purolator courier corp by ef hutton lbo inc and a management group from purolators courier division
both are rated baa 2 by moodys investors service and bbb by standard and poors
moodys said the rate decision last month by the public service commission would significantly pressure niagara mohawks coverage of fixed charges
on a historical basis it added magma had a 1986 net loss of 581 mln dlrs on a loss from operations of 423 mln dlrs
fees of 2 1 2 pct comprise 1 1 2 pct for selling and one pct for management and underwriting combined
whether us firms are able to stage a comeback in memory chips or interested in doing so also remains unclear they said
bionomic sciences bsii sees profitability
with the drop in domestic prices resulting from the marketing loan domestic rice use is expected to grow at a faster rate usda said
us minerals said the mine is designed to operate at an average of 12500 tons or ore per day and is projected to produce 95000 ounces of gold in 1988 plus significant quantities of silver lead and zinc
there was some 44 billion dinars about 157 billion dlrs in outstanding bank credit at the end of 1986 of which one quarter to one third was estimated by bankers to rank as bad or doubtful debt
ball corp said it completed the acquisition of privately held verac inc
obviously we will be considering further industrial action union secretary ross wilson said in a radio interview
according to cbc union reported shareholders equity of nearly 190 mln dlrs for the period ending march 31
tbn 1400 mt bulk sugar fiji prai 16 dlrs fio 10000 1000 1 10 5 fiji sugar marketing
showboat earned 1753000 dlrs in last years third quarter
latin american debtor nations are still willing to negotiate on their debts world bank director for latin america and the caribbean rainer steckhan said
last november the mexican government authorized an export quota of nearly 11 mln head of live cattle for the 1986 87 season aug july most of which goes to the united states
management said it would give consideration to this matter at a later time
the agency said air north america provided no support for its claim that the transaction would give the two carriers monopoly power in some markets
i just dont think theres anything going on
officials said darman felt the passage of tax reform late last year marked an appropriate moment to bow out
kilo gold 21 lots
gomes said in the statement there have been no problems in the concession of funds by the treasury for payment of the coffee delivered to the ibc warehouses by the producers
two brazilian shipping firms settle with strikers
the company said it will grant the underwriter bear stearns and co inc a 30 day option to buy up to 75 mln dlrs principal amount of additional debentures to cover overallotment
it said it plans a dramatic reduction in overhead costs that should improve results
the reserve bank said it will offer 80 mln nz dlrs of treasury bills at its regular weekly tender tomorrow
but he told the senate appropriations agriculture subcommittee that including wood products in the departments short or intermediate term export guarantee programs would conflict with us multilateral trade obligations
brazil has stuck rigidly to its insistence that the old system be applied
they recommend taking profits
asked if anyone has offered to buy the unit which is the nations largest health club chain peltier said no one has the money to offer to buy it the fitness industry is a fragmented industry with no leader and there is a great opportunity for growth through acquisition and then standardization said wayne lachapelle chief financial officer of livingwell inc well the nations second largest fitness chain operator whih lachapelle said livingwell is always interested in acquisition opportunities but could not afford an acquisition the size of bally at this time
similarly if buffer stock purchases or sales amounting to 300000 tonnes have been made since the last revision the reference price will be lowered or raised by three pct unless the council decides on a higher percentage
moodys said it is evaluating the ability of graces less diversified business portfolio to generate funds sufficient for reinvestment and growth along with debt service and repayment in the next three to five years
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
answering questions from the national newspaper association baker said brazil is not defaulting on its debt and pointed out its interest payments moratorium was called because of dwindling foreign reserves
amoco an in natural gas find off trinidad
kleinwort benson ltd kidder peabody and co ltd drexel burnham lambert inc deutsche bank ag and wi carr sons and co each get 01 pct
i will not comment because the foreign exchange market reads more or less than is intended in my statements baker said
mulford also said that oecd nations need to grow an average three pct to help resolve the international debt crisis
new zealand cpi rises 23 pct in march quarter
wish said refineries will stockpile production before the shutdowns to maintain normal supply while maintenance is carried out
mercer said celerons reserves would not be sold separately from the pipeline
bonds for texaco inc units hardly traded during the day following the weekend news that the company filed for chapter 11 bankruptcy protection in another twist to its long running dispute with pennzoil co dealers added
major japanese banks have been considering a plan to avoid a debt crisis since the start of the year they said
nppc appeal on canadian pork dismissed
market sources say roasted coffee exports will benefit ugandas economy as they will not be included in the 238 mln 60 kg bag export quota assigned to the country under the latest international coffee agreement
the plan calls for intest to be paid at an annual rate of nine pct during may and 12 pct thereafter
a bank spokesman said the previously reported call by the canadian parliaments finance committee on march 20 for a substantial cut in credit card rates was a factor in the move but he would not elaborate
responsibility for the appreciation of the taiwan dollar and the south korean won lies soley with those countries said us trade representative clayton yeutter speaking to the asia society yeutter said that it is in those countries own long term interest to raise the value of their currencies against the dollar
each debenture is convertible into the companys common stock at a rate of 5455 dlrs per share which represents a conversion premium of about 258 pct over the last sale price of 43 3 8 per share yesterday it said
west germany will still need ministers final approval for such a plan
bermuda seeks 40 mln dlr revolving credit
the us officials added the sale would also worsen the strained relations between the two countries stemming from the huge japanese trade surplus
japanese banks object to the short term paper market which they see encroaching on their business territory
he added he expects a deal to be concluded between barwon and the philippine government in 14 days as it is the only offer in cash the newspaper reported
they are to be imposed on goods which use semiconductors including television and audio equipment and computers
austrian banks divided over interest rate cut
however before the talks began tanjug said the agreement should cover 16 billion dollars of debt due this year and 35 billion due in 1988
tamura corp issues 70 mln swiss franc notes
shr 28 cts vs 29 cts net 10978000 vs 11916000 revs 1535 mln vs 1634 mln note full name is central illinois public service co per share results reflect payment of preferred dividends
medtronic mdt sees 15 pct earnings growth
i am optimistic he added
shr 108 dlrs vs 100 dlr net 6215538 vs 5757013
shr profit 273 dlrs vs 229 dlrs net 1291 mln vs 1058 mln nine mths shr loss 2833 dlrs vs profit 642 dlrs net loss 116 billion vs profit 3018 mln note 3rd qtr includes previously reported gain of 550 mln dlrs or 294 mln after tax by capturing excess pension funds
the target for 1987 is eight pct
kuwait may re register part of its tanker fleet with foreign flag jurisdictions including the us and ussr in an attempt to protect them from iranian missile attacks in the gulf war zone us officials were quoted by the new york times as saying
the midam specializes in mini contracts in grains livestock metals financials and foreign currencies as well as some options contracts
31 it had interest receivable of about five mln dlrs on its medium and long term brazil outstandings
elders chairman john elliott said in a statement when the offer for the ordinary shares closed on april 23 that acceptances representing over 93 pct of outstanding shares had been received
analysts expect it will now extend or raise slightly the current ceiling for the coming months
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
net also includes gains from sale of real estate of 3000 vs 83000 for qtr and 563000 vs 1317000 for year
it may also take some time for the proposals to go through and in the process they may be altered by the various constituencies affected by the move
ec commissioner welcomes cocoa accord
the change made sense in view of the recent purchases of probably 250000 tonnes of west european and polish rapeseed and large scale butter imports that were expected from march onward it said
banks had been invited as lead managers at 200 mln dlrs managers at 125 mln and co managers at 75 mln
the gatt as an institution needs to be strengthened to assure that the gatt plays its proper role in management of the world trading system and the global economy smith said
indonesia has introduced a series of measures since last may to boost non oil exports liberalise trade and encourage outside investment
block expects some expansion this tax season of its electronic filing system which directly feeds into the irs and can speed up the refund process
ecuador also banned the sale of petrol on weekends and holidays and limited sales on weekdays an energy and mines ministry communique said
the market is getting mixed signals and it doesnt know which way to go one analyst said
shr 52 cts vs 62 cts net 10884000 vs 12891000 revs 1333 mln vs 1288 mln avg shrs 21017000 vs 20845000
dome owns or has an interest in a total of 361 mln acres of land across canada
a spokesman for a smaller refiner said well have a hard time surviving but thats something we must go through in addition to our streamlining and efficiency programs for the oil division we will exert efforts towards branching out further into other lines such as real estate and travel agencies he said
backwardations will remain while operators continue to grant options where potential tonnage to be delivered exceeds aluminium stock levels an lme option trader said
they will not be easily deterred and let me stress for you that our commitment there is not going to be risk free or casualty free he said the most likely iranian response would involve terrorism or the laying of mines
it provides ann entry to mcdonalds corp mcd weve been after for years douglas told analysts
mcdermott mdr unit gets plant contract
the company said the dividend is in addition to the ten cts per share dividend paid january 2 1987 making the post stock split annual dividend eight cts per share
the move is a response to the increasing securitisation of debt markets they added
japans customs cleared trade surplus in the first 20 days of february jumped to 358 billion dlrs from 194 billion a year earlier the finance ministry said
pat henderson spokesperson for the mge said the exchange expects contract approval at cftcs tuesday meeting
commenting on press reports about the 50 mln dlr price tag black said that would not be wildly inaccurate although he declined to disclose the actual cost
citibank launches currency warrants
nevertheless new york analyst william raferty of smith barney harris upham said were still in a bull market adding that corrections are a normal part of a rising market and the bear usually strikes slowly economist evelyn brody at morgan grenfell and co in london said the huge sums of money going through the world financial system will keep a floor under share and bond prices
turkeys central bank set a lira dollar rate for april 6 of 78195 78586 to the dollar up from 78250 78641
papandreou says greeks ready for aggressors
high point financial corp is raising six mln dlrs through an offering of redeemable subordinated debentures due 1997 yielding 865 pct said sole underwriter ryan beck and co
recent very wet weather has already caused some isolated incidences of pod rot but reports from the growing regions say these are not yet significant
overall economic growth will vary in the different countries between 1986 and 1988 the oecd semi annual report said
todays agreement follows an agreement between nigeria and the paris club of western creditor governments in december to reschedule some 75 billion dlrs of official debt
he said that with the move called a standstill arrangement brazil was only trying to avoid difficulties in paying its 109 billion dlrs of debt in the future
in the market drop the stock of acquirors got clobbered more than the acquirees another analyst said
one equities analyst predicted that the budget surplus announcement could push the share market up by 50 points tomorrow
latin america urgently needs more money if it is to grow its way out of its deepening debt crisis but fresh ideas about how to stimulate new lending quickly seem to be in short supply
he would not comment on the new offer
dealers said a large proportion of the sales to the soviet union in the past few days involved japanese operators selling thai origin sugar
lawson sees no change in uk monetary policy
the figures in usxs just released 1986 annual report indicate much of the drop resulted from the exclusion of 2937 mln barrels of libyan reserves after the us government last june directed us oil companies to end libyan operations
shr 66 cts vs 61 cts net 5928000 vs 5447000 revs 1260 mln vs 898 mln avg shrs 8948000 vs 8947000 nine mths shr 196 dlrs vs 196 dlrs net 175 mln vs 163 mln revs 3439 mln vs 2869 mln avg shrs 8948000 vs 8300000
the company said both transactions are subject to approval by shareholders at a meeting to be held in april or may it said
ny bank discount borrowings nil in week
government figures show gdp grew at an annual 18 pct in the quarter to september and 34 pct in the june quarter
in a filing with the securities and exchange commission moller said he bought 65000 first western common shares between jan 20 and march 26 at prices ranging from 10000 to 10625 dlrs a share
french official reserves rose 258 mln francs in may to 42050 billion francs from 42024 billion at the end of april the finance ministry said
earlier this month the estate of james m
shell to declare norways draugen field commercial
fees consist of 5 8 pct for management and underwriting including a 20 basis point praecipuum and 1 1 4 pct for selling
it said princeville had previously held talks with a financial institution on obtaining a letter of credit but was unable to reach mutually acceptable terms
us trade representative clayton yeutter has threatened retaliation if the tax is approved as it would limit us soybean exports to the ec
portugal may have purchased us corn
cotton 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 area mln acres planted 1006 1006 1068 1068 harvested 849 849 1023 1023 yield lbs 549 553 630 630 supply mln 480 lb bales start stks x 935 935 410 410 production 970 979 1343 1343 ttl supply y 1906 1914 1757 1757 x based on census bureau data
it said that despite flat revenues atts interexchange business and strong cash flow should sustain the current level of debtholder protection for the next several years
falling inflation is likely to give significant scope for reductions in nominal interest rates real interest rates are also expected to ease albeit slightly as the balance of payments deficit and hence the call on overseas capital falls away the nzier said
the company said it has filed for an offering of four mln common shares and 150 mln dlrs of subordinated debentures due 2017 with proceeds to be used to refinance the short term bank debt incurred for the accuray acquisition to finance other costs of the transaction and for general corporate purposes
prior year net includes extraordinary credits of 1100000 dlrs in quarter and 3300000 dlrs in nine mths
shr profit 12 cts vs loss 14 cts net profit 183000 vs loss 234000 revs 24 mln vs 15 mln six months shr profit 22 cts vs loss 22 cts net profit 345000 vs loss 358000 revs 52 mln vs 29 mln note1987 2nd qtr and six months include gains of 78000 dlrs and 154000 dlrs for tax loss carryforward
the el nino does not always produce the same effects and the present occurrence is much less pronounced than the last major event in 1982 83 it said
weve had three years in a row in which the soviets have failed to live up to their end of the agreement we would love to continue to keep doing busines with the soviet union but do we need a long term agreement
other grants will be announced shortly the government said
but this two pronged approach has drawn little response from the two nations so far and in any case will only work with a sizeable lag economists say
shares of dome petroleum ltd posted their biggest gain in months in the us and canada as stock markets foresaw a takeover tug of war beginning for the debt heavy company
shoneys inc shon 1st qtr feb 15 net
matsushitas shares closed on the tokyo stock exchange at 1640 yen down 50 from yesterday
bank of japan governor satoshi sumita said the central bank will carefully consider its monetary policy in light of the recent sharp fall of the dollar
about 60 pct of japans crude oil passes through the waterway
mousavi said the security of the gulf region had nothing to do with the us but iran would resort to any action to defend the gulf even those actions which are not thought probable by westerners
bruce wilkinson president of the company said the charges to the companys third quarter earnings for the period ending march 31 would significantly impact third quarter results but would not affect the companys cash position
eastman kodak co ek and wr grace wr both have joint ventures with cetus but neither owns an equity position in the company said fildes
we have learned that we can live without the quotas that were suspended in february last year but would prefer the stability they can bring to the market as long as we do not simply return to the old and outdated status quo as far as quota allocation is concerned he added
the spokesman said mannesmann had a letter of intent on the takeover from the heirs of the companys late owner but completion has been delayed by legal questions concerning the inheritance
nine month pre tax was 151 billion stg against 135 billion
sg warburg and co ltd is arranger for the financing the bankers said
members finance the stock through a 45 dlrs a tonne levy on all cocoa they trade
accepted bids ranges from 561 pct to 564 pct and 29 pct of the bids at the high or stopout rate were taken
associated electric power enterprises in the yugoslav republic of serbia issued the bonds to raise eight billion dinars for the construction of new power facilities
eni unit agip petroli buys stake in us company
key centurion bancshares inc said it has completed the previously announced acquisitions of union bancorp of west virginia inc and wayne bancorp inc
proposed offerings recently filed with the sec
baker says us making progress reforming iadb
general electric cos ge semiconductor business said it agreed to sell its datel unit to a group led by the units president nicolas tagaris
kaufman and broad home corp kbh 1st qtr feb 28
the newspaper said news of the unexpectedly large 15 billion deficit helped batter the dollars value on foreign exchange markets and boosted us interest rates
the trade deficit for all of 1986 87 is provisionally estimated at around 70 billion rupees from an estimated record 8747 billion in 1985 86 and actual 5318 billion in 1984 85 commerce minister p
washington has said it will take trade reprisals if the ec proceeds with the ban from january 1 and if european countries do not quickly cut back what it sees as unfair subsidies to the makers of their airbus airliner which are harming us manufacturers
the borrower is an optical disk joint venture between philips gloeilampenfabrieken nv and ei du pont de nemours and co
major purchasers for the current season were south korea japan taiwan and thailand while south korea and indonesia were the major buyers for the 1987 88 season which begins august 1
cts cts increases 1986 loss
the deal is subject to execution of a definitive agreement
turkey passed legislation last year allowing commercial paper
but he said the costs would decline as market prices recovered
the spokesman told sanchez is a 46 year old civil engineer who formerly headed cepes administration and finances division
the credit line was agreed by a joint economic industrial commission
mercury entertainment mcry sees better results
farm leader raymond lacombe said the union planned to go ahead with a series of major protests both in france and abroad against the ec commissions proposals to overhaul the farm sector
subscriptions to the offer close march 24
taiwan curbs inflows of foreign exchange
this left out income from state reserves usually excluded in official budget accounting which are forecast by bankers at up to 10 billion dinars in 1986 87 resulting in some shortfall
4th qtr shr nine cts vs four cts net 658159 vs 299930 revs 3770341 vs 2614224 avg shrs 7382802 vs 6747442 year oper shr 33 cts vs 18 cts oper net 2287179 vs 1045799 revs 131 mln vs 8577853 avg shrs 6874505 vs 5951612 note 1985 year net excludes 13000 dlr tax credit
publicker industries inc pul 4th qtr loss
accruals of borrowings under the exchange cover scheme were 36 mln dlrs last month after 163 mln in january while repayments were 16 mln dlrs after the previous 151 mln a treasury spokesman said
large lump political risk insurance is the sort of thing we want to take a look at you have to try to look forward to see if you are simply in a peak and trough situation or it is a more long term thing stephens said in response to a qustion about whether ecgd will strike more countries from its list of political risk insurance recipients
the companies cited a combination of extraordinary market conditions and unresolved terms of the merger as contributing to the action
the september surplus compared with a shortfall of 1697 billion lire in september 1986
while the businessmen have little choice but to come here many tourists especially those from europe are opting to visit sunnier and cheaper climes in southeast asia
all three ministers involved in the reshuffle had spent more than four years in their posts
new applications for unemployment insurance benefits fell to a seasonally adjusted 338000 in the week ended march 28 from 355000 in the prior week the labor department said
under the new accord the contingency buffer stock will be brought in at 152 cts to defend the floor price
home federal of the rockies hrok 4th qtr loss
saudi riyal deposits surge on us rate rise
wimpey was commenting in a statement on its 1986 results which showed pretax profits up 42 pct to 665 mln stg
flushing hodeidah and mokha 16800 mt bagged sugar 750 750 9 15 4 genoc
hinkley president and chief executive officer of union central is expected to be named chairman president and chief executive of manhattan national the company said
the purchase of orbanco for about 47 mln dlrs in cash and common stock will be effective in 30 days a security pacific spokeswoman said
ford motor co of canada ltd fc cuts annual div
he expects only five to six pct m 1 growth in march and rises in m 2 and m 3 of about four pct
the spokesman said the commission was extending the scheme fully in greece which has recently been hit by unseasonal snowstorms for the month of april
potash co of america inc nine mths loss
cuban sugar output this season 1986 87 is put at around 75 mln tonnes raw value by broker cczarnikow in its monthly sugar market review
jim walter corp jwc 2nd qtr feb 28 net
the company said earnings will continue under pressure this year due to the weakness of the colorado economy and a high level of nonearning assets
the us treasury said its weekly auction of bills produced an average rate of 572 pct for the three month and 580 pct for six month bills
we feel the balls in the banks court one source said
the economy will bottom out in the middle of the year said sumitomo bank ltd chief economist masahiko koido
he said that while the merger will initially reduce sumitomos profitability and efficiency it will vastly expand sumitomos branch network in the tokyo metropolitan area where it has been relatively weak
underwriters are gordon capital corp midland doherty ltd merrill lynch canada inc and levesque beaubien inc
the house of representatives appropriations committee yesterday approved 300 mln dlrs in economic aid for four central american states 50 mln dlrs to black led states neighbouring south africa and 50 mln dlrs in military assistance for the philippines
oil traders said threats to oil supplies has kept crude oil prices strong recently although some believe prices will be weaker if demand falls in the spring
the european community has also opposed the bills
each 1727 gram coin will contain 55 grams of fine metal
barley 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 5595 5845 nil nil unnamed b 127 127 nil nil eoa c nil nil nil nil oop d 250 250 nil nil gr total 5971 6221 nil nil ay expt e 24646 24407 ind ttl f 30617 30628 usdaprj g 32700 32700 oats 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a nil nil nil nil unnamed b nil nil nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total nil nil nil nil ay expd e 24 24 ind ttl f 24 24 usdaprj g 300 300 rice 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 3476 3691 nil nil unnamed b 10 10 nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total 3486 3701 nil nil ay expd e 17188 16882 ind ttl f 20674 20583 usdaprj g 25800 25800 hard red winter wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 17380 20197 8930 9430 unnamed b 805 705 1076 772 eoa c nil nil nil nil oop d nil nil nil nil gr total 18185 20902 10006 10202 ay exp e 83321 79745 ind tl f 101506 100648 white wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 5485 6356 580 580 unnamed b 190 x 190 x 60 x 60 x eoa c nil nil nil nil oop d nil nil nil nil gr total 5295 6166 520 520 ay exp e 38315 37577 ind tl f 43610 43743 x denotes minus figure hard red spring wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 5766 6206 1647 1647 unnamed b 296 160 nil nil eoa c 09 09 nil nil oop d nil nil nil nil gr total 6071 6375 1647 1647 ay exp e 43124 42476 ind tl f 49195 48851 durum wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 1666 2803 934 934 unnamed b 528 769 nil nil eoa c 28 28 nil nil oop d nil nil nil nil gr total 2222 3600 934 934 ay exp e 18426 17275 ind tl f 20648 20875 soft red winter wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 1278 1278 3823 3765 unnamed b nil nil 140 x 140 x eoa c 58 58 nil nil oop d nil nil nil nil gr total 1336 1336 3683 3625 ay exp e 27260 27260 ind tl f 28596 28596 x minus figure country and destinations of the identified sales of commodities reported by exporters in week ended april 2 for the respective marketing seasons were detailed by the usda as follows with comparisons for the previous week in thousands of tonnes except where noted all wheat 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec nil nil 500 500 other west europe 2188 2368 nil nil east europe 2610 3460 250 250 all wheat continued 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ussr nil nil nil nil japan 4904 6622 nil nil china 900 900 9100 9100 taiwan 1150 1410 1440 1440 other asia and oceania 6549 7309 286 786 africa 9595 11150 1671 1671 western hemisphere 3679 3621 2667 2609 soybeans 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 3022 3177 914 914 other west europe 250 250 nil nil east europe 1010 1010 nil nil japan 3554 3305 nil nil china nil nil nil nil taiwan 4720 4990 870 870 other asia and oceania 1646 1877 nil nil africa nil nil nil nil western hemisphere 3544 3915 375 375 soybean oil 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 15 15 nil nil india nil nil nil nil other asia and oceania nil nil nil nil africa nil nil nil nil western hemisphere 73 89 nil nil soybean cake meal 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 3017 3507 472 450 other west europe nil nil nil nil east europe nil 360 nil nil japan nil 35 nil nil other asia and oceania 250 400 nil nil africa 302 380 nil nil western hemisphere 4310 4015 34 34 corn 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk ec 825 225 02 02 other west europe nil 08 nil nil e
german gnp figures publication delayed
gencorp founded in 1915 became an unfocused conglomerate over the years and analysts believe reynolds has helped it to improve
the remainder will be awarded to competitive bidders offering the lowest yields
earlier supermarkets general said an unsolicited third party had made the offer
he said the long term answer is to switch some of the financial resources now committed to agriculture to other more productive areas
under us accounting practises dome mines would have reported 1986 loss of 1929 mln dlrs or 217 dlrs shr vs yr ago loss of 249 mln dlrs or 32 cts shr reflecting different principles in accounting for 22 pct stake in dome petroleum ltd dmp and 1986 oil and gas writedown
net 336 mln vs 111 mln revs 3196 mln vs 2951 mln nine mths net 973 mln vs 300 mln revs 9978 mln vs 8600 mln note company does not report per share earnings as it is a privately owned concern
us credit markets end under extreme pressure
century business credit corp said it received an offer from stanley tananbaum chairman and chief executive officer to take the company private in a transaction giveing shareholders 2440 dlrs per share in cash
she added that while some trade guesses were as low as 61 mln acres she was looking for corn plantings to be in the high 60s
however the members will also discuss ways to combat proposals for a tax on imported oil currently before the us congress
let us wait and see it is mainly the strength of the dollar fall in a very short period which was a little bit of a shock than the level of rates as such schlesinger said
burst agritech inc brzt year nov 30 loss
us trade bill very dangerous for canada lobby
pueblo international inc pii 4th qtr jan 31
meanwhile treasury bills outstanding at year end totalled nearly 70 billion dlrs an increase of 103 billion dlrs over the year and 20 billion dlrs since 1984
no immediate plans to close refinery esso saf
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
klm denies press report of air atlanta takeover
poclain traded friday on the paris bourse at 3820 francs
ptt must first sort out its problems with texas pacific
however they noted that although sterling had edged down from its highs following the base rate cut it had still closed on a trade weighted basis at 724 well ahead of fridays final 718 and only just beneath the peak of 725 touched at 1300 gmt
the agreement between the us and the european community ec on special imports of maize and sorghum provides an equal chance for all non ec countries to supply the spanish market an ec commission spokeswoman said
to help meet this years target of five pct it is insisting pay rises stay at that level setting the stage for clashes with trade unions who say they have made enough sacrifices
fiat convertible bond option under study
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
wedge in a filing with the securities and exchange commission said it believes a restructuring of american medical and its business would be highly desirable and appropriate at this time thats the sort of position that i find a large segment of shareholders of ami really share said pesch
real private consumption appeared to have been unusually buoyant last year with a 325 pct growth rate after several years of relative weakness it noted
on the lloyds insurance market lawson said he planned to change the tax treatment of lloyds syndicates bringing it into line with that of provisions for outstanding liabilities made by ordinary insurance companies and of comparable provisions made by financial traders
shr loss 50 cts vs profit one ct net loss 4419000 vs profit 276000 sales 1268 mln vs 1513 mln nine mths shr loss 42 cts vs profit 127 dlrs net loss 3160000 vs profit 112 mln sales 4299 mln vs 4775 mln note current year net includes tax credits of 2164000 dlrs in quarter and 328000 dlrs in nine mths
its new currency the european currency unit ecu has been a runaway success with investors and borrowers alike seeking an alternative to the volatile dollar
merchant banks and stockbrokers interested in being considered for this would be interviewed in early april
mti did not say when the devaluation would become effective but it expected new rates to be announced later today
as previously reported dividends will become tax free in shareholders hands provided they are paid out of profits that have borne the full 49 pct company tax rate
the companies said they have five extracting plants and about 525 miles of transmission lines in five adjoining oklahoma counties
certain consumers are concerned that differentials included in the draft buffer stock package are out of line with market realities consumer delegates said
the company earlier reported net income of 765 billion yen in the three month period ended january 31 down 592 pct from a year earlier on sales of 34306 billion down 63 pct
the traders added that iraq had dissociated itself from opecs december production agreement while agreeing to the fixed prices
world sales which began on october 20 1986 reached 2193 mln ounces in less than six months of sales
there can be no assurance that hawkeye will be able to meet these requirements
bankers are likely to oppose losing any share and the finance ministry is unwilling to introduce auctions on the ground that it would slow smooth absorption of bonds in the secondary market securities manager said
prices paid were at or above the prevailing intervention feed wheat price of 12071 stg per tonne
rogers rog sees 1st qtr net up significantly
before that he was executive vice president finance and administration
parent company net profit 75445 mln francs vs 6741 mln
it said the drop was due to a fall in orders and the dollars decline against the mark
the index base 1975 closed here today at 721 unchanged from the previous close
gross foreign purchases of japanese shares rose to 1364 billion dlrs in february from 954 billion in january while gross sales rose to 1376 billion from 1022 billion
rice season begins august 1
fiat unit fidis reports sharply higher 1986 profit
a rise in global interest rates might worsen the debt crisis and completely choke off us economic growth that has already slowed to a tepid 32 pct annual rate
inco has struggled in recent years against sharply lower nickel prices
trade says ec sugar tender hard to forecast
earlier pillsbury reported fourth quarter earnings of 485 mln dlrs or 56 cts a share down from 554 mln dlrs or 63 cts a share a year ago
spains registered unemployment fell by 10465 people to 297 mln or 214 pct of the workforce in march labour ministry figures show
cattle slaughter is guesstimated at about 128000 to 130000 head versus 129000 week ago and 119000 a year ago
he said greece was able to cut borrowing because a two year austerity program it adopted in october 1985 cut its current account deficit to 175 billion dlrs last year from a record 33 billion in 1985
kimbark oil and gas co kimbo 1986 year loss
a preliminary duty of 854 pct was set last oct
auditors lift qualification on brunswick bc 
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
greenbaum said that february us personal income should rise at least 05 pct after being flat in january
he called on the government to review its tax policies to restore incentive to exploration
wyse technology said it agreed in principle to acquire privately held link technologies inc in exchange for an undisclosed amount of wyse technology shares
the loan carries 495 pct interest in the first year rising to 585 pct in the fourth year
it would surely be foolish to put that favourable conjuncture at risk by lowering interest rates prematurely or excessively he said
prior qtr and year figures exclude gain from discontinued operation of 31000 dlrs and loss of 2000 dlrs respectively
showa shell sekiyu kk sholt introduced its formula shell 98 octane gasoline to the japanese market in january this year
investment firms cut cyclops cyl stake
the project hopes to increase agricultural productivity exports and real farm income by providing credit to private farmers ranchers and agro industries the bank said
however analysts said the bank of england will need to be convinced that the present rise is a fundamental re rating rather than a result of short term speculative gains
supradur cos inc supd year net
that showed our portfolio is desirable he commented
asked if the six nations had agreed to stabilise the dollar at about 153 yen the rate prevailing at the time of the paris talks miyazawa declined to give specific figures and said any mention of specific rates would create an unexpected situation
standard and poors recent triple a rating of chiyoda fire and marine insurance co ltds claims paying ability caused the japanese agencies which had rated chiyodas convertible bond only a plus to come under some criticism for being too conservative they said
in the fourth quarter it offered 30 mln shares of stock raising about 650 mln dlrs
in a petition filed in january the asa asked the us food and drug administration fda to require palm palm kernel and coconut oils to be identified as saturated fats on food manufacturers labels
french commercial bank credit commercial de france has split each of its shares into four to increase the number of shares on offer when it is privatised at the end of this month a company official said
ussr wheat imports are forecast at 1500 mln tonnes in 1986 87 vs 1400 mln tonnes last month
sumita says bank will intervene if necessary
shr 39 cts vs 26 cts net 3466000 vs 1913000 revs 277 mln vs 194 mln note period ended february 28
security pacific corp said it completed its planned merger with diablo bank following the approval of the comptroller of the currency
non refundable for five years the issue is rated a 2 by moodys and a plus by standard and poors
american telephone and telegraph cos proposal to deregulate its long distance phone service is unlikely to produce a radical change in phone rates but it should help the companys profits analysts said
in a statemnet a
baker said in a us television interview on sunday that washington would reexamine the louvre accord because of west germanys increase in short term interest rates
the report said zambian copper production fell to 463000 tonnes last year from 526000 in 1985
via sole manager drexel holiday inns is selling 900 mln dlrs of senior notes due 1994 with a 10 1 2 pct coupon and par pricing
eksportfinans a s of norway is issuing 15 billion yen in eurobonds due april 23 1992 priced at 103 with a five pct coupon mitsubishi finance international ltd said as lead manager
in view of this poor response he said it is possible that by the year 2000 nearly all african countries except a few will be categorised as least developed countries at present 27 of africas 50 odd states are officially listed in this category
redstones newest proposal offers holders 42 dlrs in cash a fraction of a share of exchangeable preferred stock with a value of 750 dlrs and one fifth of a share of common stock stock of arsenal holdings representing 20 pct of the equity interest in the restructured viacom
the car which citroen markets as an intermediate model between its long running 2cv and the visa is designed to compete with the renault 5 volkswagen polo and opel corsa
lusinchi already has decided on his successor the el nacional reported
the remarks come just before next weeks meeting of the imfs interim committee and the joint development committee of the imf and world bank
treasury secertary james baker said currencies were now within ranges that better reflected economic fundamentals
csc industries unit to increase prices
sanchez told that rentas chairman juan antonio robles was currently in the us to negotiate the deal but declined to give other details
moore mccormack resources inc said it agreed in principle to sell its globe metallurgical inc unit to cyprus minerals co cypm for undisclosed terms
he said the current program has artificially stimulated domestic sugar and corn sweetener production which has allowed corn sweeteners to make market inroads
the basic ideas of the ldps plan were presented to and welcomed by monetary authorities of the major industrial nations in washington last week they said
less grain flows into west german intervention
the international coffee organization executive board is to meet in london between march 31 and april 2
poehl says rate rises are cause for concern
1986 net both periods includes writedowns of 290000 dlrs of oil related seismic data
representatives of cocoa consuming countries at an international cocoa organization icco council meeting here have edged closer to a unified stance on buffer stock rules delegates said
several traders and analysts here told latin american coffee producers will meet this weekend in managua nicaragua
italian panel urges exchange liberalization
trans world airlines said it has proposed a cash merger of usair group with twa in which the holders of usair common would receive 52 dlrs in cash in exchange for their stock
federal realty issues 75 mln dlr convertible bond
the companies said caremark shareholders of record as of june 26 will be entitled to vote at the meeting to be held in newport beach calif at 1000 pdt
shr 51 cts vs 36 cts net 2543285 vs 1686559 sales 1532 mln vs 1207 mln
ico board seen unlikely to set new coffee talks
the heller approach while extremely complex could have a profound impact on the system ideally stabalizing prices and international exchange rates
there has definitely been an evolving mind set from the situation of slow grain buying a couple months ago to one of frenetic buying now the official said
denmarks balance of payments on current account was provisionally put at zero in february against a 181 mln crown surplus in january and a 15 billion deficit in february 1986 the national statistics office said
sterling investment group said it successfully drilled and completed a significant development well 65 miles southwest of houston texas
terms will be fixed within five days and the conversion premium is expected to be 24 to 26 pct above the share price
he declined to put an exact figure on the amount of sugar offered by beghin say but said it was below 500000 tonnes
earlier the bank had estimated the shortage in the system today at 950 mln stg
australian beef output seen declining in 1987
floating rate debt of us and canadian banks came under pressure last month when fears resurfaced about their exposure to latin american debt
glaxo profits up sharply dividend raised
the weekly tenders should respond to fluctuating demand by increasing or reducing the tonnage awarded czarnikow says suggesting that the commission might also take steps to cut down the amount of unnecessary bureaucracy surrounding the export tender system
toshin steel owned 419 pct by nippon kokan and azuma steel owned 413 pct by nippon kokan are expected to decide by the end of march they said
ferruzzi owns about 40 pct of montedison the company said
the move would allow the chicago board of trade cbt to apply to the commodity futures trading commission cftc for approval of a futures contract on yen bonds
affandi replied that rice is the main staple and provides an income for 17 pct of the workforce
the commission suggested that big rivers electric work out a flexible rate schedule with the smelters that would index their electric costs to the price of aluminum he said
in announcing the rights plan datacard said it is not designed to deter takeovers that would be consistent with the objective of maximizing stockholders value to all of datacards stockholders the rights will not become exercisable until 10 days after an announcement that a person or group has acquired beneficial ownership of 44 pct or more of datacards common stock
today it reported a loss for 1986 of 420 dlrs per share compared with a year earlier loss of 471 dlrs
spokesman for armco inc and bethlehem steel corp said the proposed price hike was under study
mindscsape inc said it agreed to buy the educational software unit of holt rinehart and winston inc a subsidiary of harcourt brace jovanovich inc for undisclosed terms
at the moment we have a sideways movement in the short term rates
five by three cents a lb effective immediately
shamrock holdings inc said its subsidiary shamrock holdings of california acquired controlling interest in dbms inc through the purchase of 575000 shares of its preferred stock
another critic was citicorp chairman john reed who said the 13 16 pct interest margin would deter some bank lenders and thus delay mexicos return to the voluntary markets
todays uk economic data have pushed the chances of another base lending rate cut from the current nine pct further into the distance analysts said
he also sees residential construction declining mostly for multi family housing units
the suits are related to the companys purchase of its shares from salomon brothers inc after salomon bought a block of the stock from ronald perelman who had acquired nearly 37 mln cpc shares or 76 pct of the company last year
the offer has been fully underwritten a treasury spokesman said
sun raises crude postings 50 cts effective today wti to 1750 dlrs bbl
such comments reflect the view that the currency markets are becoming increasingly politicized
january inventories were up 82 billion dlrs or 14 pct from the year ago level of 58399 billion dlrs
earlier this week group chairman robert maxwell also said it expected to float its mirror group newspaper subsidiary bought from reed international plc reedl for 100 mln stg in 1984
what this writedown says is that a lot of the money that was spent in the past is unrecoverable but the shareholders have already recognized that through the writedown in the stock price gobert said adding the financial statements have come out and said that what has happened in the past has been a disaster for dome gobert added
the survivors decided to offer mortgages whose rates would move in line with the cost of funds
caesars world caw bid valued at 907 mln dlrs
but while ankaras policy of liberalising markets offers new opportunites to expand operations some bankers see dangers attached to a related drive to push down turkish interest rates
john labatt ltd said it agreed to issue in canada 125 mln dlrs of 1987 adjustable rate convertible subordinated debentures maturing april 1 2007
discounts which are currently under review range up to 50 stg a tonne for brazilian and malaysian cocoa
key centurion keyc to buy bank of buckhannon
after ashers edelman recent history a lot of people dont find him very credible anymore said one arbitrager
they said the relaxation of controls was now under review by the petroleum council an advisory panel to the ministry of international trade and industry miti a spokesman for a major firm said deregulation would bring about a reorganization
entertaiment said it has requested an early meeting with crazy eddie incs board and that it has committed 50 mln dlrs toward the purchase of the shares including those already purchased
ted turner chairman would retain a 51 pct interest a turner broadcasting spokesman said
robert hibbert general counsel for the american meat institute said the meat industry expected to submit a formal trade retaliation petition by april 30
a 50 pct cut in the import tariff for soybeans should help boost 1987 us soybean exports to taiwan a spokesman for the joint committee of soybean importers told 
rank organisation current trading satisfactory
datrons officers hold about 73 pct of the total 896000 datron common shares outstanding it said
rising imports of japanese made cars and electronic goods may upset west european officials but they generally seem prepared to stay on the sidelines in the latest trade row between the united states and japan
even without further success the existing fields and recent discoveries will contribute significantly to profit and cash flow for some years to come it said
harley davidson hdi unit files note offering
new zealand may need about 100000 tonnes of wheat this year which would normally come from australia but may be from the united states the us agriculture department said
he said in a speech to an export import group that he was sure the united states and japan could work out their dispute over unfair japanese trade practices in semiconductor trade but i am sure the sanctions will go in before we work it out sanctions are to be imposed on april 17
baker says us wants to stabilize exchange rates
but the average sales price of both dropped to 1383 dlrs per barrel from 2643 dlrs for oil in 1985 and to 149 dlrs per thousand cubic feet from 218 dlrs a year earlier
us business loans fell 822 mln dlrs in march 25 week fed says
malaysias foreign borrowing held at 1986 level
the key us 7 1 2 pct treasury bond due 2016 fell to a low of 9608 12 in early tokyo trade against the 9805 06 new york finish then recovered to 9620 22
it said that on that date it will deposit with an escrow agent 2888 mln dlrs in cash 667 mln dlrs in notes and 31 mln shares of its common for distribution
the third project which is being supported by a bank loan of 53 mln dlrs and an international development association loan of 16 mln dlrs hopes to increase water supply to madras
we thought the trade balance would improve over the year and it certainly looks as if this mornings figure is indicative of that commented economist james donegan at the toronto securities firm of midland doherty ltd
recovery in the automotive sector helped push the value of exports up by 59 pct in february the agency said in its monthly report
i dont think planted acreage is important
concern that a strike by brazilian seamen might interrupt exports of soybeans from brazil where the harvest is just beginning also underpinned prices they said
american soybean producers are confident the proposed european community ec tax on vegetable oils and fats will be rejected but are leaving nothing to chance american soybean association asa president elect wayne bennett said
this is because banks will only be able to offset the tax credit for foreign withholding tax paid on the interest they receive against the corporation tax on the profit of a specific loan
meanwhile ecomomic releases are unlikely to enliven the us market unless they deviate widely from expectations economists said
baker international to sell electric submersible oilwell pump unit
foreign investors are reluctant to invest in yen when more attractive yields are offered on dollar and other currency investments traders said
shr profit 17 cts vs profit 14 cts net profit 13 mln vs profit 901000 revs 369 mln vs 362 mln six months shr profit 18 cts vs loss 11 cts net profit 14 mln vs loss 716000 revs 636 mln vs 577 mln note1986 six months includes increase in provision for doubtful accounts to 15 mln dlrs
johnson products jpc sells two subsidiaries
its difficult for any farmer to not go along with the program this year soybean acreage is also expected to decline this year but at a much slower rate of around four pct usda analysts said
the borrower is a state backed public corporation which provides 70 to 85 pct of the single family residential mortgages in alaska
oil imports peaked in 1977 at 47 pct were short of 36 pct last year and this year are up over 40 pct bentsen said
finance ministry officials were unavailable for immediate comment
previously rates had been below inflation
taiwans trade surplus with the us hit 136 billion us dlrs last year against 102 billion in 1985
robert campeau chairman of allied said this is a terrific start to our disposition program which is proceeding well ahead of schedule
it became clear to us the eximbank must assume a broader range of explicitly defined country and transaction risks than it has previously
we would very much like to do something to respond to that in an apparent effort to prevent the chip dispute from spreading to other areas miti officials sought to depict the us action as a severe warning to japanese semiconductor makers not to the government
salek said the accumulated surplus in the jan sept period was 7857 billion dlrs compared with 8667 billion dlrs in a similar 1986 period
the australian government had already imposed residue controls and it is believed the meat with the presticide residues was already in the pipeline before the controls were put in place the spokeswoman said
the us agriculture department proposes to rename the usda good grade of beef to usda select the department said the proposed change is in response to a petition from public voice for food and health policy and would present a more positive image of this grade of beef and help calorie conscious consumers select leaner cuts of meat
its not really that expensive
continental illinois cil raises prime rate
previous tenders over the last month by interest rate have seen the allocation rate on these facilities rise to 385 pct at last weeks pact from 360 on the last fixed rate tender in late september
southmark sm sells national heritage stake
cp air always fighting for market share rather than profits was a perennial money loser analyst wilfred hahn of bache securities inc said in a recent report
morgan stanely ms unit sells floater cmos
insituform also said james colclough has resigned from its board for health reasons and secretary scott saltpeter has resigned effective june five
to fully compensate for devaluation the quota would have to be around 28 dlrs per bag against 70 when registrations closed
western diplomats and military sources in the area said shelling the platform appeared to be the least provocative act the united states could have taken once it had decided to retaliate for the tanker attack blamed by both the americans and kuwaitis on iran
the dutch current account surplus fell 54 billion guilders last year to a provisional 121 billion guilders the finance ministry said in a statement
a spokesman for the department of revenue said a study of the level of the duty will be undertaken in the next six months to determine if it should be adjusted
earlier it posted net income for the period of 147 mln dlrs or 87 cts a share up from 117 mln dlrs or 73 cts a share
gold futures retreated from modest early gains and closed steady while silver prices rallied on the commodity exchange in new york
trade deficits such as china had last year and in 1985 are normal for a country at its stage of development customs figures show china had a trade deficit of 119 billion dlrs in 1986 down from 14 billion in 1985
the light louisiana grade was also raised 50 cts to 1785 dlrs a barrel
sahlen and associates inc said it has completed the purchase of gleason securities service inc of new york and gleason plant security inc of connecticut
in its economic forecasts anz said it expected moderate overall economic growth with gross domestic product gdp rising 27 pct this year and 24 pct in 1988
banking sources said the tax change would boost simex trading by non bank institutions and individuals and would benefit foreign firms and institutions
mts acquisition has negligible number of caesars world shares
i would not characterize the atmosphere around here as one of concern one santa fe executive said about henley
for the next few years most analysts see three six pct air traffic growth and they expect profits will come from cost cutting and careful spending
denmarks net foreign debt rose to 129 pct of total exports in 1986 from 83 pct in 1983 s and p said
i dont think sumitomo has 100 pct concrete plans at this moment unless there is a new development a banker at the west german commercial branch of sumito bank ltd in duesseldorf said
the company said it is also negotiating with its lenders to extend the reduced net worth terms beyond may 15
shr 13 cts vs 14 cts net 1329000 vs 1054000 revs 207 mln vs 114 mln avg shrs 10100000 vs 7500000
between 20000 and 50000 barrels per day bpd will be pumped along it perry said
dow chemical usa midland co said it will increase prices of its high performance thermal fluids in bulk and drums effective july one for contract and spot customers
no raw sugar is being unloaded at tate and lyles refinery at silvertown on the river thames following a fire yesterday afternoon tate and lyle plc said
but uncertainty about an acquisition coupled with eastman kodak cos ekn announcement it plans to sell its 23 pct stake in icn had made a launch date uncertain
we plan to underwrite more of these deals said a korth official
icahn drops bid for twa twa 
under the agreement akzo will acquire the household product activities of the lyons based rhodic and remalard based buhler fontaine units of rhone poulenc
the ways and means committess trade bill forces president reagan to retaliate against unfair trade practices that violate international trade agreements but it allows him to wave retaliatory tariffs or quotas if the action would hurt the us economy
he said ciba visions sales have grown an average of more than 200 pct a year since 1981 the year after the group was formed
what we are suggesting is reasonable it should be better understood not just outside the community but at home he said
federal paper board fbo to sell preferred
prices of index linked bonds fell back slightly after the stock tranches were announced with the 2 1 2 pct index linked stock due 2016 quoted at 102 25 32 stg pct after 102 29 32 shortly before the announcement
quest biotechnology inc said its new subsidiary quest blood substitute inc signed the agreement and plan of merger with hunt research corp and its affiliate icas corp
enetertainment marketing inc and its president elias zinn have demanded a list of crazy eddie inc shareholders from the company and said they may pursue a merger of the edison nj electronics retailer
conoco raises crude oil prices up to one dlr barrel wti at 1750 dlrs
shell canada sees better profit lower spending
zambia imf talks stall on food subsidies
but growth was insufficient to prevent a rise in unemployment to 111 pct last year from 103 pct in 1985 the ministry said
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
defense secretary caspar weinberger will join commerce secretary malcolm baldrige in fighting fujitsu ltds itsut plan to buy 80 pct of fairchild semiconductor corp pentagon officials said
they investors are saying heres another one another family dispute said dennis mcalpine of oppenheimer
the ministry said construction output fell 13 1 2 pct in january february against november december due to the cold january weather
capital costs would be 223 mln dlrs with all new equipment and 500000 to one mln dlrs less with used equipment the firm said
jones and vining jnsvo starts bid for shares
the house agriculture committee voted to make approximately 28 billion dlrs of feedgrains deficiency payments immediately instead of in the late fall
net proceeds will be used primarily to retire outstanding bank debt chilis said
i have a hunch a lot of other things were involved in that stock market fall including simple profit taking yeutter said
belgian state loan priced at par
raytheon rtn net rises on operations
acme electric corp ace 1st qtr oct two
the company said it does not intend to seek another buyer
ways and means chairman dan rostenkowski an illinois democrat insisted the more moderate approach was necessary if the house wanted to pass a bill reagan would sign into law
the company had previously announced plans to again adjourn the meeting following receipt of a renewed offer from lynch corp lgl yesterday
oper shr loss five cts vs loss 50 cts oper net loss 3862000 vs loss 15900000 sales 426 mln vs 388 mln avg shr 721 mln vs 317 mln year oper shr loss 51 cts vs loss 210 dlrs oper net loss 303 mln vs 513 mln sales 1517 mln vs 1531 mln avg shrs 594 mln vs 244 mln backlog 571 mln vs 529 mln notes operating losses exclude profits from discontinued operationgs of 1000000 dlrs or one cent a share vs 2493000 dlrs or eight cts a share in quarter and 650 mln dlrs or 109 dlrs a share vs 137 mln dlrs or 56 cts a share in year 1986 year operating loss also excludes extraordinary gain of of 256 mln dlrs or 43 cts a share backlog which includes only orders to be shipped within 12 mths was 630 mln dlrs on january 31
fitchburg gas and electric light co said its board of directors authorized a filing with the massachusetts department of public utilities seeking authority to issue up to 27 mln dlrs of long term notes
the midams t bond contract has a face value half the size of the cbts 100000 dlr t bond contract the most active futures contract traded
the scheme also proposes using remote subsea production wells to tap the fields reservoir estimated to contain 375 mln barrels of oil and an offshore buoy loading system to transport oil from the field by ship
the payment date is april 8 and there will be a long first coupon period
saudi arabia has a floating oil stockpile of 40 to 50 mln barrels
sterling peaked at a high of 16075 dlrs before settling to a steady 16050 about 1300 gmt nearly a cent higher than the european low of 15960
during the last week of april silver futures traded up and down the price limit in the back months causing traders to rush into the spot contract to offset those moves analysts said
this is a transition year for gm he said
the panama canal commission a us government agency said in its daily operations report that there was a backlog of 41 ships waiting to enter the canal early today
k mart corp said its record fiscal 1986 net earnings of 5823 mln dlrs a rise from 2212 mln dlrs a year ago marked a major turning point for the worlds second biggest retailer
taiwan imports 210000 tonnes south african maize
baker and volcker say debt strategy will work
koo said the loans would be repayable in foreign currency
production normally tails off sharply after march but in recent years production from march to the end of the crop has been over 500000 tonnes analysts said
small groups of marines armed with submachineguns stand on the quays near the strike bound ships but the military presence here is generally discreet
there is only a small universe of people who would want to own the company as its presently structured conrac is involved in video displays computer software aircraft instruments telephone answering machines welding equipment and other products
some 7000 south african miners return to work
qtrly div 285 cts vs 285 cts pay april 15 record march 31
in recent weeks mario vazquez rana has indicated that in light of the increased investment he wants to devote even more time to upi and to play a more direct role in managing its financial affairs benjamin said in a statement
unadjusted merchandise figures show a surplus of 151 mln dlrs against a 50 mln dlr revised from 10 mln dlr deficit in march and a 31 mln dlr deficit in march 1986
as we have said repeatedly only american flag vessels are under our protection with the exception on a limited case by case basis of ships carrying our foreign military sales equipment to friendly non belligerent states in the region sims said
the companies said the previously announced merger has been approved by ti caros board and is expected to close by early april
a ban by a portuguese court on the state buying agency epac taking part in cereals import tenders open to private traders will remain unless it is reversed in portugal or challenged in the european court of justice european commission sources said
philip crosby reported fourth quarter 1985 results of 13 mln dlrs or 37 cts a share prior to an august 15 two for one stock split
were considering it he said its one of those dinosaur laws and i think its time has come
shr 28 cts vs 21 cts net 4653815 vs 3564451 revs 340 mln vs 128 mln nine mths shr 61 cts vs 53 cts net 104 mln vs 8881825 revs 618 mln vs 384 mln note per shr amounts are after giving retroactive effect for a 2 for 1 split effected as a 100 pct stock dividend which was paid june 1 1987net includes net realized investment gains of 1213471 vs 937801 in nine mths 1987 vs 1986 and 604172 vs 474556 in qtr 1987 vs 1986
further details would be announced march 25 on the bonds that will be dated and delivered april 16 1987
the department said the acquisition is not likely to substantially lessen competition and would not harm the public interest
whites tenders are scheduled for next wednesday by syria for 36000 tonnes and greece for 40000 tonnes while pakistan is due to tender on april 11 for 100000 tonnes whites they said
the mark gained some strength from news the bundesbank set a new securities repurchase tender to add money market liquidity at a fixed 380 pct unchanged from those over the last several weeks
noranda said work crews have begun securing the ramp leading into the zone where the fire was located
along with beef the us will also press japan to eliminate import quotas on fresh oranges and orange juice by april 1988
allied signal inc said it agreed to sell its amphenol products unit to a subsidiary of lpl investments group lpli a wallingford conn investment company for 430 mln dlrs cash
topps co inc said it has filed for an initial public offering of 4500000 common shares including 3500000 shares to be sold by shareholders
in its weekly petroleum status report the department of energy agency said gasoline stocks were off 200000 barrels in the week to 2481 mln barrels and refinery crude oil stocks rose 63 mln barrels to 3358 mln
interest rates hurt us may housing sales
texas air to give former continental air holders another 375 dlrs a share
the 12 year 94 day bond is issued at 98672 pct
oil accounts for up to two thirds of its total exports and up to 60 pct of total revenues
german money market split on lower rate prospects
shr five cts vs seven cts net 80642 vs 115222 revs 7833570 vs 5739443 nine mths shr five cts vs 111 dlrs net 80773 vs 1743828 revs 216 mln vs 163 mln
us banks likely to lift prime rates again soon
the company yesterday paid a quarterly cash dividend of 2 1 2 cts a share unchanged from the previous quarter to shareholders of record february 20
we certainly intend to do everything we can to insure that canadian interests are well protected clark told the house of commons in the daily question period
the rating agency said it completed a review based on 1986 results of the largest us bank holding companies
the commodity credit corporation ccc has approved an additional 840 mln dlrs in credit guarantees for sales of us agricultural products to algeria for fiscal year 1987 under the export credit guarantee program gsm 102 the us agriculture department said
sosnoff said the financing for the offer is almost fully in place
analysts said that while the use of undisclosed inner reserves by banks here makes forecasting very imprecise hongkong bank benefited from the unexpected strength of the hong kong economy in 1986 when gross domestic product grew by nearly nine pct against an initial forecast of 45 pct
each two warrants allow the purchase of one share at two dlrs
american powdered makes metal parts for various industries
the underlying rise is adjusted for factors such as back pay and timing variations
niki lu industries inc year net
japan october december gnp rises 08 pct
sen
he added that china also will need to import more corn this year than earlier anticipated but he gave no figures
the bank of china is both a buyer and a seller in the market which would know quickly if it was buying heavily in advance of an announcement the reserves were down he said
they are aiming for a pact by next october
the paper said that last month us intelligence sources said they had spotted land based anti ship missiles of a chinese design known in the west as the hy 2 near the strait of hormuz
norsk hydro has also applied for an undisclosed share in a single exploration license in which us oil company tenneco has already been assigned operatorship company spokesman bjoern tretvoll said
elders resources ltd began the auction for tmoc about three months ago with an unsuccessful 255 dlrs a share on market offer that has since lapsed
swedens trade surplus rose to 36 billion crowns in february from 15 billion in january and 348 billion in february 1986 the central bureau of statistics said
it did not disclose a price for the acquisitions but said it had issued 30000 restricted b shares as partial payment to nokia
it said the number of unemployed fell to 78711 from 81558 in january and compared with 57103 in february 1986
while the weakening of the dollar vis a vis european currencies is a bottleneck to increasing exports to the us yaacobi said he expects israel to extend its recent trend toward higher us exports
it does confirm however that the financial services firm which unsuccessfully attempted to expand shearson with a major acquisition last year is looking beyond its own walls for growth and positioning in the global market competition
pdvsa to sign champlin refinery deal march 17
coffee talks failure seen pressuring us 
hutton is providing a 279 mln dlr bridge loan that would later be replaced with other debt
the group added its has already had some contacts with others concerning the company but said no understandings have been reached
mcdonalds mcd to buy 10 7 8 pct debentures
south african gold holdings rose 17256 mln rand to 417 billion rand in march after rising 39 mln rand to 40 billion rand in february reserve bank figures show
the unit reported total assets of 1967 mln dlrs on juen 30 1987
the buena vista light grade at 26 degrees api gravity was raised 135 dlrs a barrel to 1555 dlrs bbl while the huntington beach light grade at 16 degrees was raised about 175 dlrs bbl to 1410 dlrs bbl
wickes cos inc said it has completed the purchase of dura corp for an undisclosed amount
the bank said it is making a 70 mln dlr loan to help fund a 2578 mln dlr project designed to meet its future power needs
it quoted a presidential decree appointing oil ministry undersecretary isam abdul rahim al chalaby as the new oil minister
teck soon co ltd a major thai rubber exporter has formed a joint venture with state owned chinese international economic and technology development corp to produce 50000 tonnes of sheet rubber annually for export to the chinese auto industry teck soon general manager chit surivitchpan said
laenderbank expects modest profit rise in 87
chicago real estate developer leonard chavin told the securities and exchange commission he had raised his stake in the le meyers co group to 11 pct from 97 pct
national southwire is owned by national intergroup inc nii which holds about 55 pct and southwire co which holds the rest the spokesman said
shr 72 cts vs 56 cts qtly div 18 cts vs 18 cts prior net 187 mln vs 144 mln revs 2397 mln vs 1871 mln nine mths shr 187 dlrs vs 126 dlrs net 483 mln vs 325 mln revs 6769 mln vs 5748 mln note dividend payable december 1 to shareholders of record october 30
national distillers and chemical corp said it completed the sale of almaden vineyards inc to heublein inc for about 128 mln dlrs
bard makes tennis and squash racquets and accessories
sallie mae said proceeds will be used for general corporate purchases
of this central government debt sales to the public sector were expansionary by 400 mln stg after a 13 billion expansion in january the bank said
to fitness inc said it has been named exclusive florida distributor for the hardpack version of the frozen dessert tofutti by tofutti brands inc tof replacing pillsbury cos psy haagen dazs
comterm inc year jan 31 loss
loewy said the initial figures appeared to be negative for both new crop corn and soybeans and might possibly mean an upward adjustment in planting intention figures
paris traders put the likely tonnage at around 60000
in february petrol prices increased but winter clothing prices stayed low and vegetable prices fell
the components were for the militarys high mobility multi purpose wheeled vehicle hmmwv american motors said
oper shr loss 471 dlrs vs loss 1409 dlrs oper loss 22 mln vs loss 672 mln note 1986 loss excludes gain on the sale of gold lance corp of 121 mln dlrs
richard gephardt a missouri democrat to force countries such as japan south korea and taiwan to cut their trade surpluses with the united states
the takeover spotlight fell today on burlington which rose 4 7 8 to 52 7 8 on speculation that investor asher edelman and dominion textiles inc of canada bought an almost five pct stake
common stock traded as high as 2500 dlrs in 1981
the us energy information administration in its latest report for the four weeks ending may 22 said that gasoline demand was up 44 pct to 73 mln bpd from the previous year
shr 94 cts vs 77 cts net 21 mln vs 17 mln revs 78 mln vs 88 mln noteper share data reflects elimination of 500000 shares owned by 50 pct owned subsidiary and reflect one for three reverse stock split effective march 5 1986
codelco argued that seguel could not continue as union leader when no longer employed by the company
it was up 94 pct on its level a year before
ningbo handles crude oil exports and transhipments of coal from north to south china and imports include fertiliser and soda ash and iron ore from brazil and australia
record male unemployment of 31 pct was set in july 1986
he said the company does not break out operating earnings by unit on a quarterly basis
other prime rates range from 1825 to 185 pct with the majority on 1825
fees comprise 7 8 pct selling concession and 3 8 pct management and underwriting
kuwait has an opec quota of 948000 barrels per day bpd compared with production capacity of 40 mln bpd mentioned last year by oil minister sheikh ali al khalifa al sabah
there will be a commitment fee of 1 4 pct per annum on available amounts and of 1 8 pct on unavailable amounts the sources said
funaro said however he was told creditors understand brazils position and do not wish to turn the negotiation for the renewal of the credit lines more difficult
about 1600 tonnes remain to be discharged
weve looked at five or six different alternatives involving such things as flip flopping the trading rooms he added
fundamental to achieving that goal is to continue to reduce costs dramatically to get our arms around our loan loss problems and begin to reduce charge offs and to enhance our revenue generation clausen said
equatorial communications co said it expects to report losses of about 57 mln dlrs for the fourth quarter and 68 mln dlrs for the full year 1986 on revenues of about 10 mln dlrs for the quarter and 52 mln dlrs for the year
arrivals for the week ended february 22 were 155221 bags of 60 kilos making a cumulative total for the season of 593 mln against 581 at the same stage last year
the cso stressed that figures for invisible transactions particularly for the most recent quarters are liable to substantial revisions as later information becomes available
the 75 pct cut from planned production implemented since february reduced norways oil output by about 80000 bpd
the property sector is also sought after with japanese companies that have invested heavily in the united states in recent years turning their attention to undervalued real estate particularly in the tourism field
as of dec 31 1986 colonia bancorp had assets of 150 mln dlrs dauphin said
proceeds will be used to repay in full the companys indebtedness under a revolving credit agreement and to reduce other bank debt stanley said
brazils refusal to accept a reduction in its previous 30 pct share of the icos global export quota effectively torpedoed talks here last month aimed at restoring quotas before october the delegates noted
the most likely range will be a bottom for the dollar between 140 to 142 yen per dollar and a top near 150 to 152 yen horner said
first half ended december 31 shr 5501 cents vs 9776 int div 18 cents vs 16 net 7505 mln dlrs vs 5568 mln turnover 15694 mln vs 17787 mln other revenue 7250 mln vs 3118 mln
in addition to the foreign investors and us brokerage houses analysts said many of the major oil companies were also competing for prime properties
the liquidity doesnt disappear all its doing is disappearing from the equity markets dennis noted
all indications are they will take effect he said
it said it accepted 336097 tonnes of bread wheat nil in the year earlier period 16818 nil tonnes of high quality wheat 33623 523625 tonnes of feed wheat 3426 168682 tonnes of rye 88494 32766 tonnes of high quality rye 2313 105005 tonnes of summer barley and 481421 972794 tonnes of winter barley
the selling concession is one pct while management and underwriting combined pays 5 8 pct
anacomp inc said it acquired the common stock of datagraphix inc from general dynamics corp gd for about 128 mln dlrs
quarter ended may 2 shr 20 cts vs 17 cts net 2319000 vs 1950000 sales 924 mln vs 722 mln six mths shr 160 dlrs vs 127 dlrs net 187 mln vs 148 mln sales 2859 mln vs 2271 mln note full name is burlington coat factory warehouse corp
primerica wh ich changed its name in april from american can co said smith barney harris upham and co inc wholly owned by smith barney inc will add more than 100 domestic and overseas branch offices
but talks were revived after gaf launched its 46 dlr a share proposal on march 31 merrill lynch said
bii enterprises biito nine mths aug 31 net
the move follows a half point increase yesterday in the bank of spains key overnight call money rate which now stands at 135 pct
us farm programs help canadian corn producers
colombian inflation rises 203 pct in february
qtr ends feb 28 shr six cts vs three cts net 189683 vs 80499 revs 2874930 vs 2594474 note full name hospital staffing services inc
toshibas timing is most extraordinary one official at the department of trade and industry dti said
may added that the indiana national bank of indianapolis provided a portion of the deals financing
we could do a large acquisition he said when asked if the company could raise as much as one billion dlrs for this purpose
uk authorities have lost patience with japanese trading practices and said they are seeking ways to retaliate without unleashing a damaging trade war
economic spotlight france awaits economic lift
the company received its initial public listing in december
it said it had no intention of further reducing its holdings in either company
fed adds reserves via customer repurchases
the issue is guaranteed by the austrian state
for the nine months ended march 31 personal computer expects a net loss of about 325000 dlrs compared to a loss of 584000 dlrs the previous year
stock exchange traders said the rumour helped gecs share price to rise 5p to a final 206p from yesterdays closing price of 201p
the company said it was studying financially superior alternatives
group turnover fell slightly to 38 billion marks from 4272 billion in 1985 and parent company turnover fell to around 14 billion marks from 1535 billion the company said in a statement
company officials at a press conference said the money would be raised through the sale of debentures adding these securities are expected to be registered with the securities and exchange commission following standard and poors corps rating of the companys debt next week
us regulations will change in the near future and if so we can do various things
this move is the latest in a series of similar actions by leading us money center banks including citibank na and chase manhattan bank na over the last 24 hours
the newspaper said another 33 mln dlr loan was lead managed by citicorp
moore said one aim was to instil a sense of political urgency to avert potential economic tragedy another was to seek ways of popularising freer trade to people who felt the pain of readjustment but could not see the benefits as well as preventing bush fires of confrontation while we proceed with orderly negotiations the meeting is being attended by 25 overseas delegations including representatives of gatt and the economic community
in the commons liberal member lloyd axworthy branded the ruling as just another trade harrassment from the us and criticized clarks assurances the countrys interests would be protected
and credit suisse and credit suisse first boston each issued swiss franc bonds with warrants for gold which have a similar character though they are aimed at a less professional market
robert lamp consuls chief financial officer said the company needs to have at least 90 pct of the bonds exchanged in the transaction to report a profit in the first quarter of fiscal 1988
we are not sure how much soviets have bought but we think it could be as high as 35 mln tonnes amstutz told a house agriculture appropriations subcommittee
what is important is that we attempt to maintain healthy returns to capital and adopt policies encouraging genuine economic growth he said
telxon recorded revenues of 242 mln dlrs for the quarter last year and earnings per share of 22 cts adjusted for a three for two stock split in may 1986
mhi also plans to cooperate with the us in its strategic defence initiative space defence program by participating in the project when it moves from the research stage he said
butler btlr to sell part of unit
norways central bank reserves totalled 9106 billion crowns in january against 9307 billion in december and 10529 billion in january 1986 the central bank said in its monthly balance sheet
such a move would be in brazils interest since european banks have been more supportive than us banks of alternative debt solutions such as interest capitalisation
the dollar had opened here at 14595 yen against 14585 90 yen in new york and 14600 yen at the close here yesterday
shr 12 cts vs 12 cts net 337000 vs 235000 revs 3350000 vs 1642000 avg shrs 2935734 vs 2000000 year shr 69 cts vs 56 cts net 1815000 vs 1112000 revs 121 mln vs 7709000 avg shrs 2648257 vs 2000000
pemex will buy 80 mln dlrs worth of foreign equipment and materials for the project he said
we have not run away from the auction
it also bought two mln stg of treasury bills in band two at 9 13 16 pct
the minister said the ec commissions new farm trade paper will recognise the heavy financial burdens imposed by its common agricultural policy and its future expansion
contract prices have risen in response to higher spot market prices oil traders said
but the move also means that the company is not likely to increase its dividend for perhaps as long as three years said mark luftig an analyst at salomon brothers inc
central statistical board data published in the weekly ekonomicheskaya gazeta yesterday showed that industrial output was only up 08 pct in the first two months of 1987 over the same period of last year
we have had one year of reasonably good results
german investors slow to accept bond innovations
continued heavy rains in the northern coastal area flooding of several major rivers and mud slides have led to increased concern the report dated march 17 said
uk continent coastal movements declined sharply to 291 mln tons from 477 mln but those from the uk continent to the us rose to 199 mln from 169 mln
he listened very carefully and i have little doubt the message got home he added
spring potato yield per harvested acre is forecast at 244 cwt per acre vs 261 cwt per acre a year ago usda said
no pessimism for german exporters ministry
belgian unemployment falls in february
saudi arabia the worlds largest oil exporter will continue to restrain production as long as other opec members adhere to the pact nazer said
shr loss 193 dlrs vs profit 16 cts net loss 53412000 vs profit 4479000 revs 248 mln vs 327 mln note 1986 shr and net include 51187000 dlr writedown on us operations uneconomic coal operations and other mineral properties
uk building society taps eurosterling market
the european investment bank eib is raising 400 mln marks through a 10 year eurobond carrying a coupon of 6 1 8 pct and priced at 100 1 4 market sources said
producers could receive deficiency payments on up to 80 pct of normal yield but not more than on 30000 bu of corn and 20000 bu of wheat
under a separate agreement affiliated said that certain members of billboards management plan to buy up to 10 pct of the equity in billboard following affiliateds acquisition of the company
it is a simplistic misconception that brazil can dictate policy to other producers
the us asset backed debt securities market which grew explosively last year is broadening and investment bankers say 1987 could see a variety of issuers
home shopping hsn affirmed by moodys
shipbuilders association officials told mhi is the worlds largest shipbuilder in terms of orders and capacity
investor has five pct of sage drilling sage 
waste management is involved in removal of wastes
ccc seed credit gurantees for algeria usda
they said hogs havent been making the weight gains that are normal at this time of year and farmers have been too busy with field work to market animals
the bank of england said it provided the money market with a further 20 mln stg of assistance during the morning
the facility is 200 mln dlrs underwritten at a maximum of five basis points over the hong kong interbank offered rate
hoechst ags hfagf us unit hoechst celanese corp said it has begun projects that will cost more than 150 mln dlrs
the letter was signed by four managers at the dakota city plant
stars to go star gets stores agreement
approximately 505 mln dlrs of debt is affected
the price sharing arrangement provides for csr to share equally with esso in higher returns if oil prices average more than 20 us dlrs a barrel in the next two years he said
most major us banks are now posting a 7 3 4 pct rate
bundesbank buys dollars in frankfurt dealers
gross fees are 2 1 2 pct with one pct for management and underwriting and 1 1 2 pct for selling morgan stanley said
the spokesman announced that from march 29 alitalia would be starting a new weekly service to shanghai
advanced institutional aims cuts workforce
dieter said west german producers would see a downturn in foreign business because of lower energy prices and the higher mark as well as a deterioration of the economies of customer nations
total debt declined during the year by 251 mln dlrs to 228 billion dlrs and debt to equity ratio improved to 18 to one from 21 to one
transcontinental gas pipe line corp said that it is not willing to accept the federal energy regulatory commissions conditioned approval of its proposed offer of settlement dated may 13
a further rally in dutch bonds is likely this week due to a lower dollar and a slightly firmer guilder against the mark attracting investors back to guilders from marks bond analysts said
we have informed washington of our intentions and weve already been an integral part of ownership of us oil reserves he pointed out
uk money market given 75 mln stg assistance
the united states invoked the right of self defense in destroying an iranian oil platform in the gulf the american delegation told the united nations
latta of data resources said strong sales of new condominiums in the northeast and on the west coast were reflected in sales of existing but not new homes
yield at issue is 1389 pct
it would seem obvious that an offering would decrease the health club units debt increase its cash flow and operating income making it an attractive buy to a third party steven eisenberg of bear stearns said
florida temples 3400000 boxes vs 3400000 last month and 2950000 boxes in 1985 86
plaid pantries owns and operates 161 convenience stores in the portland and seattle areas
one foreign banker speculated that bolivia might be able to buy back up to 30 pct of its commercial debt paper under the deal mostly from small banks who have written off their loans to the country
contel officials declined to comment on the possibility of selling any operations
1987 net both perioods includes charge one mln dlrs from restructuring of computer products division
np owns a 61 pct working interest
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
general partners said the offer which is due to expire april 14 is conditioned on receipt of sufficient financing and other conditions
the chairman said in the past two years akzo had spent 11 billion guilders on acquisitions of which nearly two thirds were in the united states
juno lighting inc juno 1st qtr feb 28 net
harman international hiiio 1st qtr sept 30
french exporters see higher wheat sales to china
its normal
asked what opecs output level was now he replied below 158 mln barrels per day he did not elaborate
the pmb had sought an immediate suspension in futures trading and asked the lpfa to take action to restore the relationship between futures and physicals
in a march 18 letter to gencorp chairman william reynolds which was included in the sec filing general partners officials said they were confident of our ability to promptly obtain the remaining funding as described in our offer materials for this reason we do not forsee any obstacles to a prompt consummation of the transaction general partners said
most commodity lobbyists expect lyng to prevail
closing is expected to take place in early april and the venture is to be called champlin refining co
george gaspar an oil analyst with robert w
last year japan imported about 600 tonnes of gold but the government had bought about 300 tonnes for minting coins to commemorate the 60th year of emperor hirohitos reign dealers said
distributors have turned a deaf ear to transcos request for an inventory charge which reserves the pipeline facility for spot gas to be delivered to these companies he said
the plant will use the proceeds to finance its expansion
the purchase price will be paid in cash a national distillers spokeswoman said
appropriations to government departments had been cut by eight pct since the budget was passed in december and foreign borrowing by municipalities had been restrained
the company also said its non recourse project financing for the irish lindergh heavy oil field remains in default due to continuing low oil prices
westcorp wcrp unit offers auto bonds
period ended may 31 shr 42 cts vs 53 cts net 13600000 vs 17100000 revs 2633 mln vs 2438 mln
shr loss 282 dlrs vs profit 35 cts net loss 10556478 vs profit 1286341 revs 6202157 vs 7641290 note 1986 shr and net after 10282353 dlr writedown on oil and gas property values
lamp said that if the exchange is successful the company will report profits much higher than the three cents a share reported in the first quarter of fiscal 1987
penwest ltd penw 2nd qtr ends feb 28 net
west german jan coffee imports down on year ago
qtly div 32 cts vs 32 cts prior pay may 15 record may one
this affected its load factor fear of possible competition from fledgling carrier hong kong dragon airways ltd may have contributed to cathays decision to resume service to new zealand last year analysts said
bowater industries plc bwtrl 1986 pretax profits of 480 mln stg exceeded market expectations of around 40 mln and pushed the companys shares up sharply to a high of 491p from 468p last night dealers said
rank organisation says it launching 100 mln stg commercial paper program
indonesia says it will extend oil contracts
kidder peabody and co inc told dart that kidders affiliate will be prepared to advance up to 750 mln dlrs on a subordinated basis
the company said it previously determined a write down of conventional oil and gas properties was not required at september 30 under the previous method of calculating the limitation of oil and gas values
however the staff concluded the credit risks inherent in such contracts now constitute a significant element of the risk profiles of some banking organizations the fed proposal would exempt all but the 20 25 largest participants in this market on grounds the benefits of including the smaller banks would be outweighed by costs
rexham corp a maker of packaging materials and machinery said it received an unsolicited offer of 43 dlrs a share from nortek inc ntk nortek a providence ri textile manufacturer has disclosed it holds 381050 rexham shares or about 91 pct of the outstanding the company said
the company estimated parent company current losses at 15 billion yen in 1986 87 including a gain of 95 billion yen from the sale of securities
borrowings in the latest two weeks averaged 393 mln dlrs a day the highest since the statement period ended january 28
us banking data released today are too distorted to draw sweeping conclusions about monetary policy but they do support the markets assumption that the federal reserve has started to tighten its grip on credit economists said
shr 13 cts vs 70 cts net 1538000 vs 8614000 revs 164 mln vs 196 mln 12 mths shr 89 cts vs 243 dlrs net 103 mln vs 298 mln revs 562 mln vs 838 mln note 1986 net is before preferred dividend payments and includes after tax gain from sale of real estate properties of 129 mln dlrs
in its world production and trade report the department said traders indicated china may lack supplies or be unwilling to sell at current low world prices
petro canada cut crude prices by 143 canadian dlrs bbl effective march one
in the first three months of the year inflation was a negative 05 06 and 07 pct respectively rising to 10 25 and 46 pct in april may and june the national statistics office said
first toronto capital corp said it completed an issue of a five mln dlrs convertible debenture to arcalex bv a dutch corporation that owns 543 pct of first torontos outstanding common shares
assets of money market mutual funds rose 139 billion dlrs in latest week to 23677 billion
they said the bank is coming in when the dollar is around 14905 10 yen the same levels as new yorks close yesterday and the midday close in tokyo today
he also said that since 1970 the world has been consuming 20 to 25 billion barrels a year while making discoveries at the rate of only 10 to 15 billion barrels a year
all buyers of us reserves paid a median price of 645 dlrs a barrel of oil during the fourth quarter of 1986 for acquisitions up from 533 dlrs in the third quarter and five dlrs in the second quarter according to the firms research
philippines posts 68 mln dlr january trade deficit
dauster said brazils role when the ico meets in london in september will be to support the world coffee pact defend its market share and argue for distribution of quotas to be in the hands of producer countries
central bank money stock was growing at an annualized 75 pct in february unchanged from the 75 pct in january
us exports of soybeans and products to the ec account for one fifth of annual production and are worth about 25 billion dlrs a year bennett said
deputy foreign trade minister janusz kaczurba recognised this fact recently
termiflex corp tflxo 1st qtr sept 30 net
berkey inc bky 4th qtr net greenwich conn april 13 oper shr profit one cent vs loss 32 cts oper net profit 64000 vs loss 1496000 revs 471 mln vs 604 mln 12 mths oper shr loss 287 dlrs vs loss 70 cts oper net loss 135 mln vs loss 3267000 revs 1666 mln vs 1598 mln note qtr 1985 excludes profit 663000 dlrs or 14 cts per share from discontinued operations and excludes loss 900000 dlrs or 19 cts per share for net operating loss carryforward
south africa problems remain despite debt pact
the japanese term customers however have so far been unsuccessful in establishing a transparent price formula to replace the existing unilateral monthly price notice
princeville pvdc gets letter of credit
beet producers have threatened to effectively dump nearly one mln tonnes of white sugar into ec intervention stocks as they feel export subsidies have been too low to compensate for the gap between high ec internal and low world market prices
hong kong firm ups calmat czm stake to 12 pct
marketing systems masy seeks acquisitions
miti has also been conducting a highly public campaign urging chip users to buy foreign made chips but us industry officials said response has been mixed at best
the oil and natural gas commission of india has signed for a 265 mln us dlr italian buyers credit co lead manager bankers trust co said
the companys earnings had not been hit by the halving of brokerage fees some 14 months ago as volumes had since doubled
shr 19 cts vs 15 cts net 826362 vs 421759 revs 190 mln vs 148 mln avg shrs 4400000 vs 2900000 nine mths shr 48 cts vs 31 cts net 1872075 vs 887478 revs 516 mln 411 mln avg shrs 3889000 vs 2900000 note full name countrywide transport services inc
the banking information service said february fell within the governmemnt tax season so much of the lending was probably the result of industrys need to pay its tax bills
the company today reported a 1986 loss of 1544000 dlrs compared with a 1985 profit of 3912000 dlrs
leading industrial nations will meet again next month to review their accord on currency stability but us officials said financial markets are convinced for now the countries will live up to commitments to speed up economic growth
the index base 1980 stood at 135 in february a fall of one point compared to january against 142 in february 1986
liner shipping specialist evergreen marine corp taiwans largest private company has applied to the security and exchange commission to go public next month a company spokeswoman told 
psc grew to 2269 billion dlrs from 2224 billion in december and 1731 billion in january 1986
endotronics endo target of investigation
the company said the new agreement extends a prior debt moratorium on principal and interest payments on approximately 30 mln dlrs of long term debt to june one 1987
the philippines offers a textbook case of the economic dangers
a pressure leak in a containment building hatch at fpl group incs turkey point nuclear plant has forced a brief reactor shutdown a nuclear regulatory commission nrc spokesman said
kampuchea says rice crop in 1986 increased
lme details march 1987 turnover
tax reforms have also gone into effect
it said proceeds from the proposed sale will be used to repay bank debt fund a deposit of the first three interest payments on the debenture repurchase 350000 common shares at 446 dlrs per share from former parent company plantronics inc plx and to fund future product development and marketing
bankamerica chairman says bank is turning around heading to profitability
moodys also said merrill lynch would continue to aggressively commit its capital to such merchant banking activities as bridge financing
shr one ct vs two cts net 22000 vs 58000 sales 951000 vs 901000 year shr four cts vs 12 cts net 88000 vs 293000 sales 4014000 vs 3533000 note net includes tax credits of 46000 dlrs vs 84000 dlrs in quarter and credit 19000 dlrs vs provision 37000 dlrs in year
the cocoa market is completely free
long delays at the railway crossing on the kenyan border have led uganda to re route its coffee exports through a ferry link with the kenyan port of kisumu across lake victoria ugandan officials based in kenya said
they said they were shocked by an economic planning agency report today that private spending fell 07 pct in the oct dec quarter for the first time in 12 years
finance secretary jaime ongpin has confirmed the philippines agreed to make token prepayments of principal to foreign banks as part of a 103 billion dlr debt restructuring package
the international coffee organisation which represents both consumers and producers has so far failed to reach agreement on quotas
hodel urged congress to approve oil exploration in section 1002 of the arctic national wildlife refuge in alaska
showboat sbo to take charge sees 3rd qtr loss
as a result it said the stock will become marginable
at the meeting stockholders approved an increase in the authorized number of common shares to 200 mln from 15 mln
the investment was mainly in electronics trading food and service industries
mobil mob files for one billion dlr debt offer
but he added they are always pretty aggressive and they have good foreign marketing channels analysts said a key factor in brazilian trade will be coffee and even without background pressure from foreign creditors the worlds largest producer was expected to hit the market this year with a vengeance
seamen employed by two small companies have already accepted a 120 pct pay rise and returned to work as have about 5000 seamen employed by petrobras
vendor deliveries slowed another sign that the economy improved in march
it had asked state governments to build more warehouses to avoid damage to grains
peabody added that it expects to announce within the next week how it will staff and operate the properties and offices it has acquired from eastern
the journal said inco is being dropped to substitute a stock that will make the index more representative of the market
for 1986 cook reported a loss of 308 mln dlrs on sales of 257 mln dlrs for the prior year
mikulic said foreign debt should be retained at about the same level as now until 1990 and the country should then be able to keep currency reserves equal to three months payments
lawson said he will propose that all companies and building societies be treated the same way on payment of corporation tax with all liable to pay corporation tax nine months after the end of the accounting period on which the tax is due i also propose to legislate now to pave the way for a new method of collecting corporation tax to be known as pay and file this would be part of a wider programme of streamlining tax collection and would not come into force until the early 1990s
middle south utilities inc is taking a conversative approach to formulating a new common stock dividend policy chairman edwin lupberger said
hutton revised its 1987 earnings estimate for the waste management concern to 140 dlrs a share from 120 dlrs on the announcment he said
orion royal withdraws from frn market
the white house economic policy council would consider the sale in the coming weeks they said
demand totalled 525 billion francs and the average yield was 913 pct
moodys lowered union bancorps senior debt and preferred stock to a 1 from aa 3 subordinated debt to a 2 from a 1 and long term deposits to a 1 from aa 3
sogenal officials said they forecast 1987 consolidated group profit of around 170 mln francs after an estimated 160 mln this year and 159 mln in 1985
sumitomo bank ltd sumit is certain to lose its status as japans most profitable bank as a result of its merger with the heiwa sogo bank financial analysts said
american savings and loan association of florida said knoll international holdings inc has offered to purchase 500000 new shares of american savings for 10 mln dlrs and the board has accepted knolls offer
american motors amo board meeting on takeover
leading interest rates are not the decisive rates he said
but the difficult task of keeping production advances at bay still remains as at least one more season of production deficit is needed to eliminate some of the remaining surplus stocks still overhanging the market man said
denman told rostenkowski that gatt regulations prohibit member nations from taking unilateral retaliatory action in trade disputes unless the action is gatt approved
monetary authorities said to lose credibility
in comments on its export sales report the department said sales of 10 mln tonnes to the ussr previously reported under the daily reporting system were the first sales for delivery to the ussr under the fourth year of the us ussr grains supply agreement which began october 1
the reserve bank said at 1230 local time it was offering to buy short dated government securities in the short term money market
that estimate would represent a drop in revenues of 1400 mln dlrs from 1986
us senate panel could consider trade measure
the fed is going to look at this positively said allan leslie of discount corporation
the bank must hold out until it sees the reaction to the budget said temperton
mono also said options to buy up to 300000 dlrs of its capital stock at 65 cts per share expire march three
by drawing attention to us in our discussions it means that others may be a little reluctant to come forward he said
it also has interests in non residential construction
the commission last thursday granted weekly rebates for the sale of 15000 tonnes of free market maize to non ec countries
justices opposition to quick federal approval of a bid by greyhound lines inc to take immediate control trailways corp prompted greyhound to threaten in a brief filed with the interstate commerce commission icc to drop the merger plan
malaysian primary industries minister lim keng yaik said the formal adoption of a new pact had dispelled fears of liquidation of some 360000 tonnes of inra buffer stock rubber and a possible depression of prices
he said national security adviser frank carlucci will wait until that report is in and then see if there is any special action needed to be taken in the national security area to implement it
yesterday in a separate protest hundreds of thousands of farmers held rallies directed largely against high bank interest rates
the japan tourist bureau estimates endaka caused an 115 pct drop in the number of foreign visitors to japan last year
seal inc sinco 2nd qtr april 30 net
opec defending 18 dlr price subroto says
i guess if we find trans shipment is a problem we would have to do something about it said a trade official
americans merger with aircal announced last november received final approval from the department of transportation yesterday
finance minister boris gostev told the supreme soviet that defense spending in 1988 would total 32 billion dlrs the same figure as was announced last year
circon corp ccon 4th qtr
hk hotels soars on takeover speculation
shr 65 cts vs 67 cts net 49517000 vs 47732000 revs 2292 mln vs 2457 mln avg shrs 65994142 vs 63293867 note per share results reflect payment of preferred dividend requirements
tribune swab fox cos inc tsfc 4th qtr loss
transamerica corp ta quarterly dividend
john hancock units dump stake in price pr 
there were already indications that baker who throughout his time in government has relied on a closely knit circle of advisers has moved swiftly to find a successor
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
danforth bond ask targeted 0 92 measure
there are measures which are under consideration if we continue to suffer from the imbalance in our trading relations he added but gave no details
us computer makers that use the chips in their machines will then be pressured
the acquisition bring to 228 the number of convenience stores owned by uni marts the company said
partial indicators released since the last meeting of epac in december indicate that the 1986 87 budget strategy is broadly on track keating said
sallie mae said it will enter into a separate currency exchange agreement to convert the principal payment at maturity from australian dollars to us dollars
div and issue reg april 16
samedan a noble unit is operator and owns a 60 pct working interest in the well
1986 net involves 53 week reporting period to reflect change in yr end to coincide with calendar yr
one intersection graded 033 ounce gold a short ton over 44 feet at depth of 1411 feet while the other graded 022 ounce gold a ton over 23 feet at 2064 feet the companies said
japan isolated yen rises world feels cheated
the agency said that already it has published ratings on 90 issues of 45 euromarket issuers
the company said the debt converted represents about 40 pct of the total 60 mln swiss franc convertible debentures it completed last fall
itl industries ltd 1st qtr feb 28 net
exports in 1985 86 at 1257 vs 1257 last month
onno ruding said
if these solutions are not agreed to we face the final resort of either the government buying the debt or the company being nationalised he said
williams to continue as president and chief executive officer for five years from the effective date of the reorganization plan and has substantially concluded talks for a new 15 mln dlr unsecured credit effective the same date
the problem is likely to recur in april adding to that countrys surplus
the sources added that spain had received no answer from the committee to its request that tenders be opened for the sale to third countries of 450000 tonnes of maize
the company has said its possible applications include treatment of some types of hepatitis herpes influenza childhood diseases and hemorrhagic fevers
the debentures have an 8 5 8 pct coupon and were priced at 98675 to yield 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
the united states said last week it would back a 500 mln dlr bridge loan to argentina
better industrial relations at grain terminals more uniform transport systems across the states and extensive stock control were vital to improved marketing it said
ali said the problem of differentials is a real one
there will be co leads
other projects in this city of 12 mln people include a bridge and an extra tunnel under the huangpu river a new airport and passenger ship terminals and chinas biggest railway station due to open at the end of this year
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
when asked to clarify comments by rep
security pacific corp said it filed a registration statement with the securities and exchange commission covering 500 mln dlrs of subordinated debt securities
shr 231 dlrs vs 196 dlrs net 1190 mln vs 1010 mln revs 1003 billion vs 888 billion
ubs won its first deal in june 1986 when it bid for and won 100 mln dlrs of allied signal inc ald debentures due 2016
the attitude expressed here today so far is a great deal more optimistic than last year commissioner james e
during 1986 att took 32 billion dlrs in charges from expenses related to reducing its work force by 32000
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
they would probably touch a high of 20 cents pound from the current level of 1859 cents and a sharp rise from year ago levels of 1050 cents
roldan told that brazil not only had to tackle the problems of satisfying domestic demand and competing on glutted world markets but also had to work to make its position on foreign exchange markets more profitable
if morgan tried to find a home for the actual westpac notes as is they would be paid no more than 85 cents on the dollar at most traders said
analysts expect apparel sales to remain good as sales of durable and houseware items grow softer due to the continuing high levels of consumer debt
his nakasone remarks should have been made and should have had a bigger influence when the dollar was still above 150 yen said ps tam of morgan guaranty trust
a further increase in tax levels was expected in future
in the last 12 months it has raised us prices by around 20 pct without suffering any decline in sales
allwaste said that tank cleaning earned about one mln dlrs before taxes last year and had about 15 mln dlrs in pre tax income for the nine months ended september 30
phillips petroleum corp said it raised the contract price it will pay for all grades of crude oil by 50 cts a barrel effective oct 16
ste francaise des petroles bp pbpfpa 1986 year
schilling lending had grown last year and interest rate margins had also improved but remained unsatisfactory when compared with those in other countries he said
eqk realty investors i ekr sets payout
under the commissions system for stabilising consumer prices in the oils and fats sector a reference price of 700 ecus per tonne for refined soy oil would be introduced tanghe said
japan rubber stocks fall in march
the ministry said construction output fell 13 1 2 pct in january february against november december due to the cold january weather
japanese officials in tokyo today reiterated that japan had no plans to bow to uk and us pressure to give foreign telecommunications firms a bigger role there
neoax noax to sell novatronics for 20 mln dlrs
the bundesbank did not inject liquidity via a securities repurchase agreement this week but countered a tightening in rates on monday by injecting funds through government owned banks
pearson concentrates on four sectors
anything longer than 10 years is still being sold off seriously as is just about any paper in the banking sector one frn market source at a leading us house said
a midland spokesman said his bank calculated that at the current level of 27 billion stg its existing mortgage book accounts for about 5 pct of the total british home loan market
normally unsettled trades must be reported three days after they occur
french official reserves 37595 billion francs end jan 42100 billion end dec official
any shortfall during this period affects production in the main rainy season because farmers eat their stocks of seed
hoechst unit issuing 130 mln swiss franc bond
the conversion price has been fixed at 262p which represents a premium of 962 pct over fridays closing share price of 239p
gencorp also received 257 dlrs after tax from the sale of rkos wor tv
japan rebuffs britain in telecoms row
for 1987 early indications point to a slightly positive growth rate not exceeding one pct
shr eight cts vs 12 cts net 1016552 vs 980834 revs 6786579 vs 4356561 note invitron went public on october seven
seasonally adjusted m1 money supply was also hardly changed at 9721 billion guilders in december compared to 9705 billion guilders in november
d p selected utilities dnp hikes payouts
cpi corp cpic 4th qtr feb 7 net
united cable television corp uct 3rd qtr net
the infrequency of bond issues exacerbated the lack of liquidity necessary for the development of a market hu said
the underlying trend indicates the level of recent bank of england intervention on currency markets to curb sterlings strength
it said growing grain should be made profitable
merrill lynch and co said it feels the cut in its credit rating by moodys investors service is not justified in view of the companys improvement in profitability and increase in equity capital in 1986
there were some price declines including a 34 pct fall for passenger cars and 13 pct for light trucks from january levels
west german banks rarely raise dividends unless they are sure they can maintain the increased payout in subsequent years preferring to use bonuses for one of profits
tokyo has denied the charges
pre tax profit 101 mln stg vs 92 mln
ual ual hertz unit files 500 mln dlr offering
hideo maki director general of the ministrys economic affairs bureau quoted lyng as telling agriculture minister mutsuki kato that the removal of import restrictions would help japan as well as the united states
governments must not operate farm policies as if they were purely domestic affairs with no impact on others
qtly div 13 cts vs 12 cts prior pay april 17 record march 31
but the government has repeatedly said it will not allow any banks to go under
securities dealer has leaseway ltc stake
the president of the ecuadorean red cross hugo merino told the official toll of 300 dead and 4000 missing could rise as rescue workers inspect stricken sites from helicopters and wade through mud to reach victims in the four northeastern provinces hardest hit
he declined to comment on meetings this week in new york between public finances director jorge marcano and venezuelas 13 bank advisory committee except to say they are progressing azpurua said venezuela has shown solidarity with brazils decision to suspend payments but each country must negotiate according to its own interest
the radio said the grain would be delivered soon but gave no details about the value of the sales
but the chamber of commerce and industry said the crackdown would scare away entrepreneurs
during that period principal payments will be deferred if necessary and interest will be capitalized on a portion of the long term debt it said
he told in a telephone interview that trading in palm oil sawn timber pepper or tobacco was being considered
the ruling removed a regulation which prohibited trading futures of designated foreign government debt securities not located in the issuing country
funaro says brazils creditors must trust him
both organisations called for stepped up bank of japan intervention to stabilise exchange rates
in retaliation for what washington saw as deliberate community moves to exclude us grain the united states was poised to impose swingeing tariffs on european community food imports and a major trade war was averted at the last minute
they said no information had yet emerged from the meeting called after statements from both countries that they were prepared to back rival oil exploration teams with warships
the move came as call money extended a rise begun friday after the bundesbank took up some six billion marks owed to it by other european central banks after currency interventions in the framework of european monetary system in january
ec launches anti dumping probe on japanese chips
our plans include initiatives on the debt front as well as greater emphasis on debt equity swaps and the promotion of private investment in third world countries through our affiliate the international financial corporation conable told newsweek international
net includes pretax loan loss recovery 41000 dlrs vs provision 50000 dlrs in quarter and provisions 135000 dlrs vs 50000 dlrs in year
federal reserve data released today indicate that there has been no policy change in recent weeks and that none is likely at next weeks federal open market committee fomc meeting economists said
correction senior us official in washington story headlined senior us official to visit japan as trade row grows please read in 2nd graf tariffs worth up to 300 mln dlrs correcting amount
both offerings will be through merrill lynch capital markets
western digital wdc debentures converted
sign up for spring crops closes the end of this month
upcoming asset backed issues include 200 mln dlrs of notes backed by the car leases of volvo 1986 lease finance corp a unit of volvo finance north america inc via first boston and 450 mln dlrs of notes secured by sales contracts of mack trucks receivables corp a unit of mack trucks inc mack via shearson lehmand brothers inc
the hong kong economic journal quoted a spokesman of australian stock broker jacksons ltd as saying that barwon farmlands ltd a listed australian firm of which ariadne owns a 30 pct stake is planning a branch in the philippines
adams russell said the systems operate in wellsville amity andover scio willing belmont milo jerusalem benton and penn yan ny
but operators find it hard to push the dollar either way for fear of possible concerted central bank intervention
the government adopted a tough austerity program last friday intended to grapple with the tremors economic costs
the uk government said it would dispose of the holding sometime in the year beginning april one
sterling software inc said it received consent of a majority of the holders of its eight pct convertible sernior subordinated debentures required to purchase shares of its common
vendo co ven 4th qtr loss
the problems of one country are also those of the rest so we should all work together to help solve them goria said
in other words the bank would not be allowed to fail as long as the holding company has a positive net worth heller also said commercial enterprises should be permitted to own a financial services holding company again with the provision that capital would flow to the financial enterprise if necessary
world bank can aid philippines land development
a joint venture opens up the potential for penetrating markets that would not otherwise be possible for china victoria state treasurer rob jolly said
glaverbel offered the shares at 1850 francs in an operation under which its parent company asahi glass ltd asglt will reduce its participation to 567 pct from 736 pct previously
zimmerman reiterated profitability has been hurt by a move by canadian negotiators to impose last january a 15 pct export tax on softwood lumber shipped to the us in exchange for a us lumbermens lobby dropping its request for a countervail duty
scientific systems services inc sssv 4th qtr
uae central bank cd yields rise
in a filing with the securities and exchange commission that details its proposed 69 dlr a share cash tender offer for piedmont usair said manufacturers hanover trust co mhc indicates its willingness in a march 6 letter to provide up to 500 mln dlrs of the financing
wickes companies wix completes sale of unit
s and p cited caesars worlds proposed recapitalization plan that calls for incurring one billion dlrs of bank and other debt to finance a 25 dlr per share special dividend and the repayment of about 2225 mln dlrs of existing debt
deniz gokce associate professor of economics at the bosphorus university told that banks were forced to pay depositors real interest rates for the first time and profits started to fall
poehl says further rate cut possible sources
shortcovering against an oversold situation continued to play a part in the extended rally with unsettled dollar rates versus sterling providing additional support
irving bank corp said a six pct drop in first quarter net income from a year earlier was largely the result of placing medium and long term loans to borrowers in brazil and ecuador on non accrual status
the market also faces the regular weekly three and six month bill auction today amounting to 128 billion dlrs
husky oil ltd said the board called a special meeting for april 22 for shareholders to vote on its previously announced agreement for hong kong based hutchison whampoa ltd and hongkong electric holdings ltd to acquire a 43 pct interest in the company
in a petition the sia said the court of appeals erred in upholding the decision of the federal reserve board of governors to permit bankers trust new york corp bt to underwrite and distribute commercial paper
austin said it and the japanese firm will develop concepts investigate systems and compete for the contracts for the international airport to be built off the coast near osaka japan
the company added that operating earnings in its theatre unit will be higher in fiscal 1987 if the important summer season film releases perform well
barley exports for january comprised 103700 tonnes to the ec and 233000 to third countries
citibank said it had told the sec that its earnings could be reduced by 50 mln dlrs after tax in the first quarter and 190 mln dlrs in the year if it has to declare 39 billion dlrs of medium and long term brazilian loans non performing
overall they rose about two points on the day
last week carl c
chirac says france resolved to support currency pact
but ultramar said the funds would ultimately be used for further development of its core businesses in the uk and north america
with a knowledge of their own needs until the end of the month the banks bought excessive amounts of treasury bills draining liquidity for three days
greece replying to a warning from turkey that it will stop athens from seeking oil in the aegean sea repeated today that it has an exclusive right to decide where or when to drill in the area
it said alfred and david billes two of canadian tires controlling shareholders backed the appeal and would seek leave to appeal while third controlling shareholder martha billes supported the appeal but would not join an appeal motion
the secretary of state for trade and industry said he had decided not to refer the proposed acquisition by reed international plc reedl of technical publishing company inc to the monopolies and mergers commission
proceeds of the bond sale will be used for general corporate purposes
credit commercial de france splits shares
growth in the traditionally broad m3 aggregate was only moderate in february
henry said the company recovered from the sales the cost of buying enron chemicals in the fourth quarter last year
that rate has remained in force just holding above the five pct official secured loans rate which governs commercial bank borrowings
moodys investors service inc said it raised to baa 3 from ba 1 about 86 mln dlrs of subordinated debt of hechinger co
objections to such loans have most often been raised by conservative republicans who have traditionally opposed us funding for these international development banks
moodys investors service inc said it may upgrade the ratings on upjohn cos 400 mln dlrs of debt
bank of boston expects 1st qtr earnings from 90 cts to 100 dlrs shr vs 79 cts
total financing approved by the bank for projects trade and technical and special assistance fell to 7569 mln islamic dinars in the year ended september 4 1986 from 10014 mln the previous year
tonka corp tka raises dividend
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
it said the public sector contribution to the growth in sterling m3 was contractionary by about 40 mln stg after a contractionary contribution of 23 billion stg in january
it said the restated increases the provision against 1986 fourth quarter earnings to 235 mln dlrs from 155 mln dlrs estimated earlier
on march 31 the money market expects to see a 2000 billion yen surplus resulting from government payment of fiscal funds money traders said
shr 60 cts vs 57 cts net 1037 mln vs 965 mln revs 4725 mln vs 4341 mln avg shrs 1523 mln vs 1470 mln 12 mths shr 260 dlrs vs 244 dlrs net 3931 mln vs 3471 mln revs 179 billion vs 176 billion avg shrs 1509 mln vs 1422 mln
a spokeswoman for the ec commission in brussels told there has been no change in the communitys position since a march 16 meeting of foreign ministers which sent a strong warning to tokyo on trade imbalances
the bundesbank balance sheet total rose around 544 billion to 22222 billion marks
s korea may buy us oil to aid trade balance
taft stock closed at 156 1 2 up 1 3 4
the french electricity utility electricite de france is issuing a five billion french franc bond in three tranches co lead manager banque paribas said here
gillette gs gets offer from revlon rev 
shr 225 dlrs vs 135 dlr net 1199791 vs 724755 revs 117 mln vs 9105952
the group which includes mutual shares corp said it bought the stake for 53 mln dlrs for investment purposes and has no intention of seeking control of unicorp american
zimmer of merrill lynch said she would be making a slight reduction of about one mln acres in her planting estimate to around 64 mln acres
demand totalled 682 billion francs and prices bid ranged from 9350 to 9660 pct
uab called for a rights issue last november to raise 15249 mln ringgit to rectify its capital deficiency following an accumulated loss of 10761 mln ringgit at end 1985 the central bank bank negara said in a statement
procedure increased fourth qtr income 73000 dlrs or two cts per share
if the opec decides to increase crude oil production a traders said lpg supplies will be up without corresponding rise in demand petrochemical buyers were sidelined after their foray in the market early in june they said
us 1987 corn soybean acreage estimates corn 67556000 acres beans 56885000 usda
prospect group inc prosz 4th qtr loss
the package based on negotiating principles informally agreed by delegates has been forged bit by bit during fortnight long meetings by icco executive director kobena erbynn and a small group of other delegates
lutterbach explained the company has taken steps to improve financial and accounting controls primarily at western which were not adequate at the time of acquisition
conable also said that he expected the result of a major study of the banks organization to be completed in the next several weeks
the disease was first discovered about six months ago
corn mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 12308 12311 6109 6175 production 47726 48029 48186 48192 imports 6103 5859 6212 6208 feed use 29549 28947 28653 28742 ttl domes 44478 43980 41988 42055 exports 6280 6210 6253 6215 end stocks 15556 16361 12308 12311 note world imports exports may not balance due to differing marketing years grain in transit and reporting discrepancies
i dont think anybody has the stomach for it because they saw the futility of it in the seventies indeed because the market has grown in leaps and bound since then intervention on an even greater scale would probably be needed to impress the market
vallen corp valn 3rd qtr feb 28 net
gordon said he plans to issue a decision tomorrow on burlington industries incs request for an injunction to stop samjens acquisition corps takeover bid for the company
one noted that it was not immediately clear why the group should spend so much money buying a company it already controlled
in determining whether to participate a producer would need to weigh the expected cash costs of production against the loan rate the risk that market prices may rise above the expected levels and reduce the deficiency payment also must be considered according to the analysis
basf basff says 1986 results affected by dlr
baker said yesterday the concept of debt relief was misguided
american brands incs 545 mln dlrs acquisition of national distillers and chemical corps liquor business is expected to be one of a series of acquisitions by the tobacco company analysts said
the company said the actions being taken under its restructuring program including the sale of its european corn wet milling business and other assets overhead reductions and other expense items and the asian transactions will have a one time positive effect on 1987 earnings
current production of three mln bpd includes oil from the neutral zone shared with kuwait but not sales from floating storage nazer said
initially it centred on bunzl plc which once held a 26 pct stake then switched to williams when it began accumulating shares
the lower dollar was the main reason for an 83 pct fall in exports to north america an 114 pct drop to latin america and 226 pct plunge to the middle east
no other market can handle all that stock said lf rothschild analyst rosario ilacqua
including the 3000 tonnes he acquired on friday the total amount of cocoa bought by the buffer stock manager since he recently began support operations totals 21000 tonnes
he said japan must eliminate import quotas on certain minor food products or face possible us reprisals
it also will require the repayment over the life of the standstill of another 10 pct of the overdue debt spread over six month invervals and depending on the maturity of the various debts for a total of slightly more than 14 billion dlrs
shr 154 dlrs vs 127 dlrs net 7065000 vs 5812000 nine mths shr 425 dlrs vs 340 dlrs net 195 mln vs 156 mln assets 284 billion vs 187 billion deposits 251 billion vs 167 billion note 1987 qtr and nine mths includes gain 2500000 dlrs or 54 cts per share from utilization of tax loss carryforward
the stock has been trading in a 154 to 128 range for the last 52 weeks
proceeds from this issue will be used to redeem the utilitys 12 3 4 pct bonds that serve as collateral for princetons same rate pollution control bonds
notes on us supply demand tables na not available
dealers said the bank of japan and bank of england supported the dollar against the yen earlier today and that these two banks and the us federal reserve were also active yesterday
in addition it bought four mln stg of bills for resale to the market on march 30 and two mln stg for resale on april 8 at a common interest rate of 10 7 16 pct
the february increase in the overall energy costs including petroleum coal and natural gas followed a 02 pct drop in december and a 30 pct rise in january it said
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
sunter begins tender for allegheny ag 
bowater reported a 324 mln stg profit in 1985
the proposed tax would not only be inflationary but also have consequences for employment and investment he added
breakwater will issue about 37 mln shares for all novamin shares presently issued and outstanding
yesterday shearson said it was elevating its chief operating officer jeffery lane to the added position of president which had been vacant
caseys general stores inc casy 3rd qtr jan 31
the participation certificates fell to 43 francs from 4550
meanwhile opinion is divided over whether the bank can stop a cut before budget day march 17 and why it should want to
for 326 dlrs a month she rents a sunny quiet two room flat some 20 minutes by train from shinjuku one of tokyos prime business and entertainment districts and has managed to send home an average of 320 dlrs a month
di giorgio dig to evaluate gabelli offer
atlantic richfield said the divestitures are in line with its policy of focusing resources on oil gas chemical and coal operations
the company could not say what percentage the increase reflects from current prices nor could it say how much per ton the products sell for currently
us urges surplus nations to boost growth
he said port jerome west of paris and fos sur mer on the mediterranean had benefitted from new investment over 1985 86 and had last year broken even after stock losses
the proceeds will be used to refinance and retire debt and other general corporate purposes the company said
we dont tinker
it will be payable on april 26 every year from 1988 and onwards
boliden to announce major corporate takeover official
mexican first qtr crude exports seen at 1525 dlrs
the company said the dividend is payable april 10 to holders of record march 31
at the last auction on february 19 two billion francs of crh tap stock was sold at a minimum price of 9150 pct and yield of 973 pct
this sale announcement follows the public float in march of around 13 pct of the bank of new zealand ltd the government has said it will also float part of the capital of other state owned operations including dfc new zealand ltd formerly development finance corp of new zealand ltd and petroleum corp of new zealand ltd
the yield on 46000 hectares ha of rapeseed in central china will be cut by up to 70 pct by hailstorms and tornadoes that swept across nearly 100000 ha of crops on march 6 the new china news agency said today
on beef exports he said a 50 pct drop in european community intervention stock in the past 12 months would help australian sales
pacific gas pcg accounting change to cut net
he has tremendous prestige to run the company diaz said
investment bankers pointed out that because the bank of america deal did not pay principal for a year and a half the issue had a longer average life than some of the cars deals that were brought to market late last year
italian sources said italian acting finance minister giovanni goria met treasury secretary james baker last night
a decision to open the telecommunications industry to competition under a new set of laws passed in 1985 has boosted rather than lessened mpts authority analysts said
the bbb senior debt of two international units chrysler credit canada ltd and chrysler overseas capital corp was also affirmed
texaco tx eurobonds unquoted at market opening
texaco also has eurobonds outstanding which are convertible into texaco inc common stock known as convertibles
shr 30 cts vs 28 cts net 5000000 vs 4600000 revs 1252 mln vs 1239 mln note 52 pct owned by dana corp dcn
anacomp aac gets funds to buy datagraphix
shr 106 dlrs vs 154 dlrs net 9455000 vs 134 mln sales 4187 mln vs 4220 mln note 59 pct owned by hawker siddeley group plc
news of the split sparked a 14 guilder rise in abns share price on the amsterdam bourse to a close of 517 guilders
uk money market shortage forecast at 300 mln stg
the report said the regions improved economic growth last year was based on a rise in internal demand and fuller utilization of previously underused production capacity
sales last year stood at 53254 schutz said
union bank of finland is issuing a 10 billion yen eurobond due march 30 1992 paying five pct and priced at 102 3 8 pct lead manager ltcb international ltd said
lieberman said the carolco bid to its public shareholders would be in cash or shareholders could be offered securities as an alternative
the regional figures are considered a good guide to national inflation trends
the alumina refinery owned jointly by suralco and billiton nv a royal dutch shell subsidiary was reopened march 9
fees comprise 1 1 4 pct selling concession and 3 8 pct each for management and underwriting
the firm will announce 1986 results in july
gosper said oil companies would be under intense pressure in 1987 because of forecast slow economic growth
dean foods co expects earnings for the fourth quarter ending may 30 to exceed those of the same year ago period chairman kenneth douglas told analysts
bids would be due on march 10 and payment on march 12
the non binding measure asked for a probe by the us trade representative to determine within 30 days whether the tariff violates the general agreement on tariffs and trade and if so recommend within 60 days to president reagan retaliatory action against canada
but since the introduction of a complicated book entry system for bill purchases in january 1986 foreign governments and central banks have shied away from buying the bills the sources said
uk revises retail price index from february
while operations are profitable the interest burden of debt along with unusual charges net of gains led to a 306 mln dlr net loss in 1986 s and p pointed out
japan has also attacked oecd forecasts which it says do not take account of the structural changes in the japanese economy that will be triggered by the strong yen
murphy oil mur to acquire canadian subsidiary
the saudis and other opec nations are jawboning the market hoping to restore confidence and prices and to do this without another meeting said sanford margoshes oil analyst with shearson lehman brothers inc
above target bankers balances would add 10 mln
in a brief arrival statement he said iran and algeria were engaged in continuous and stronger cooperation on the world petroleum market and had deployed considerable efforts to stablise petroleum prices he was greeted on arrival by belkacem nabi the algerian minister of energy chemical and petro chemical industries
the peoples daily said sichuan has recorded temperatures three degrees celsius higher than average since early february
although traders were unwilling to reveal details of the possible new formula they said it would give brazil the worlds biggest coffee producer unchanged ico quotas for the next two years and could be a basis for renegotiation
yu chien ming head of the government statistics department told parliament yesterday he expected the losses to increase as the taiwan dollar continues to strengthen
high point also sold 666 mln dlrs of cancellable mandatory stock purchase contracts that require the purchase on march 1 1997 of the companys common stock at 23 dlrs per share
brazils recent announcement of a suspension in interest payments on 68 billion dlrs of foreign debt gave the banking system the jitters and confirmed views among many international economists and commodities analysts that brazil will continue to flex its trading muscles in 1987
shr 73 cts vs 55 cts net 1691878 vs 1117747 revs 71 mln vs 49 mln avg shrs 23 mln vs 20 mln note share results reflect two for one stock split in june 1986
italy has sent eight ships including three frigates and three minesweepers to the gulf to protect italian merchant shipping there
in the years immediately prior to 1986 we focused on changing the look of our stores and the structure of the company k mart he said committed billion of dollars for store remodeling and installing a centralized point of sale system upgraded its merchandise mix acquired three large specialty retailers divested underperforming businesses and restructured its long term debt
shr loss six cts vs profit two cts net loss 196000 vs profit 71000 revs 2512000 vs 5776000 year shr loss 109 dlrs vs loss 18 cts net loss 3509000 vs loss 587000 revs 120 mln vs 210 mln note 1986 year includes special charge of 1600000 dlrs or 50 cts per shr on write down of rental equipment
union carbide corp is looking to acquisitions and joint ventures to aid its chemicals and plastics growth according the hw lichtenberger president of chemicals and plastics
congress video group inc cvgi 3rd qtr net
the complaint said vaskevitch leaked information about 12 companies involved in a merger or acquisition which resulted in more than four mln dlrs in profit for himself and others involved in the scheme
f w
russo filled orders for david sofer an israeli citizen who allegedly traded on inside information from nahum vaskevitch head of merrill lynch and cos mer london mergers office
a lot of winterkill could occur during the next month and a half martell said
iadb chief says without sustained latin growth there will eventually be a default
cominco ltd said its cominco metals division lowered the price for lead metal sold in canada by 1 2 canadian cts per pound to 34 canadian cts per pound
spain has 35 mln dlr current surplus february
twa today revealed that it has increased its holdings to more than four mln usair shares 15 pct of the outstanding
proven gold ore reserves amount to 50000 tonnes while estimated reserves of gold and black ores total one mln tonnes he added
white house standing firm on japanese sanctions
nodaway valley co nvcoo 1st qtr net
we called at the very beginning for the bank syndications to find procedures or processes whereby they could operate more effectively the official said
cbsi said it expects to complete the deal pending nichols shareholder and regulatory approval later this year
the agriculture minister also announced the government decided to earmark a sum of 75 billion cfa francs 2471 mln dlrs to support the countrys small farmers
the officials said the tariffs would be ended as soon as japan started adhering to the agreement
it said the purchase will be financed with a combination of a new bank credit agreement and through private placement of senior subordinated notes and convertible preferred stock
five is now 535 cents a lb the company said
he said the company which markets advanced computer aided engineering design and manufacturing systems plans to double its dealers to 50 during the coming fiscal year
excluding these expenses growth in operating expenses of the combined companies was reduced from 14 pct to 12 pct during the first quarter
in a letter to belgian foreign minister leo tindemans current president of the ec council of ministers they said the mechanism often referred to as a tax would in fact subsidise oils and fats prices in the ec under some circumstances
colombian finance minister cesar gaviria also talking to reporters at the end of the weekly national coffee committee meeting said the positions of brazil and of the united states were too far apart to allow a prompt agreement on quotas
the french governments privatisation program which began late last year has earned the french state about 52 billion francs to date the finance ministry said
berliner bank outlines losses
kidston gold mines ltd 1986 year
the study also estimated that government grain stocks under the adequate certificate case would be 47 billion bushels below the zero certificate case at the end of the period examined
a long war of attrition on the debt front lies ahead
for 1986 niagara mohawks earnings per share fell to 271 dlrs from 288 dlrs in 1985 the company said earnings reduced primarily as a result of a reduction early in 1986 in earnings return on equity allowed by the ny state public service commission
this upsetting of the markets political perceptions which are all but discounting a conservative victory in the upcoming general election made them more sensitive to the trade data harwood said
the mechanism would provide for this tax to be reduced and possibly to become a subsidy as world soya oil prices rose from present levels
monier says britains redland may bid for it
now theres a growing number of new products in an environment of increasing competition for performance on fund management smithson said
the iwcc release also said the lme had confirmed that no change would be made to the clearing system planned to start on may 29
money market dealers said the bank of england has recently used the offer of borrowing facilities to signal that it does not want to see an early reduction in uk base lending rates
usx x unit raises prices on certain grades
shr 162 dlrs vs 149 dlrs net 3218 mln vs 2979 mln revs 259 billion vs 249 billion avg shrs 1988 mln vs 1995 mln nine mths shr 280 dlrs vs 448 dlrs net 9554 mln vs 8952 mln revs 770 billion vs 732 billion avg shrs 1990 mln vs 1997 mln
papua new guinea plans resources investment agency
national computer systems inc expects fiscal year earnings to improve by about 20 pct the company told analysts although it said the april 30 first quarter should show down earnings and virtually flat revenues chairman charles oswald said national computer has taken steps to improve margins
source venture capital inc year
march ohio river bid at yesterdays traded level of 125 pct offered at 132 1 2
northern trust co said it is raising its prime rate to 7 3 4 pct from 7 1 2 pct effective april 2
sosnoff said later in a statement that the 291 mln shares he is now seeking together with the 4217675 shares he owns would give him a 924 pct interest on a fully diluted basis
it compares with 19 pct growth in 1985 and 67 pct in 1984
the company said the special interst rate program applies to ann new 1986 and 1987 pontiacs sold from dealer stock and delivered to customers during the program period
bp uk refinery due to partly re open next week
st
group has 64 pct of atlantic research atrc 
bankhaus centrale credit with 31 branches had total assets of 927 mln marks at year end 1986
dime savings bank of wallingford dibk payout
labour minister almir pazzionotto said the government will not force a settlement of the strike which was ruled illegal last friday
1986 revs also include unrealized loss on equity securities of 59000 dlrs for qtr and 1155000 dlrs for 12 mths
the cabinets policy is steady the guilder has to stay with the mark he said
it will allow renault to continue its export programme to the us and also opens a perspective of cooperation with a major american constructor the statement said
usair said it could reduce the number of piedmont shares to be purchased in the offer to no less than the minimum number needed to cause the voting trust condition of the bid to be satisfied
uk money market shortage forecast at 250 mln stg
the current ico quota system is unfair and autocratic escalante said
goodyear gt chairman criticizes corporate raids
its unusual one official said but added cipec did not have any immediate recipe to remedy the situation
mobil corp made a 15 pct reduction in its long term debt in 1986 from the previous year according to data in its 1986 annual report
dresser di to sell unit to rosenkranz and co
winley buys land from mdc holdings inc mdc 
citicorp is saying you cant scare us with threats well make your loans non performing right now berger said
he pointed to a fall in the year on year growth rate of the m3 broad money aggregate to 195 pct in september from augusts 22 pct
sony chairman forecasts lower profits this year
the company also said it has retained dean witter reynolds inc to assist in raising the balance of the financing
shr 41 cts vs 28 cts net 662 mln vs 418 mln revs 8241 mln vs 6933 mln nine mths shr 150 dlrs vs 87 cts net 2361 mln vs 1238 mln revs 238 billion vs 202 billion
in a statement the company said the sec action involves events that occurred prior to campeaus acquisition of allied relating to the alleged failure of allied to make certain disclosures
the sources said that in spite of over production by opec members such as iraq the united arab emirates kuwait and qatar demand should exceed supply by the fourth quarter
he expects a slowdown in the second quarter with smaller increases in personal consumption and government spending
us mint seeking 4784000 lbs zinc
the buffer stock may not help the terminal market but will provide a backstop for quality cocoas one trader said
national gypsum ng unit joins japanese firm
euratom the european atomic energy community is issuing a 50 mln ecu six year bond with a coupon of 7 1 2 pct and priced at 101 1 2 lead manager banque generale du luxembourg sa said
the immediate reaction was a hike in interbank interest rates today to 1375 1400 pct from yesterdays 1346 pct average for deposits
nine us bondholders sued china for repayment of the loan in 1979 less than a year after the normalization of relations between washington and peking
rose said the borg warner plastics and chemical business which makes thermo plastics is the asset attracting heyman
taw
also foreign producers eroded browns assets by gaining market share
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
he denied that opec was exceeding its agreed production ceiling
chairman robert mercer said heavy restructuring costs related to the takeover attempt combined with government tax incentives for investments resulted in this federal tax refund the refund was included but not broken out in its initial 1986 results a spokesman said
houston industries hou unit to buy back bonds
in a twin announcement csr already australias largest sugar refiner made a 220 dlr a share bid for the 70 pct it does not already hold in pioneer sugar mills ltd this will be a big shock to the market which was under the impression that csr was well down the road to floating delhi mckibbin said
norgolds issued capital will be 2405 mln shares of which 63 pct will be held by nbh after 89 mln are issued to shareholders to raise 196 mln dlrs it said
dealers said the dollar had gathered renewed downward momentum and that bank of japan intervention alone could hardly contain a further slide in the currency
naples agreed to extend the maturity and increase 207 mln dlrs in puntas outstanding loans by nine mln dlrs
heading off challenges to its third world debt strategy us officials also say they think concessions should be made to debtors that enact reforms speeding inflation free growth
they said if spot prices move higher there will be no problem finding opec crude to purchase at the official prices
ongpin acknowledged there was a dispute over tactics
the preferred shares to be issued to first boston have 8160000 votes
1986 year net includes four mln dlr lifo charge and 3400000 dlr credit from pension plan termination
motel 6 lp six sets cash distribution
groupe bruxelles lambert profit up
the white house economic policy council would consider the sale in the coming weeks they said
the may year on year rise was 46 pct compared with a 45 pct rise in april
hutton had been in talks with purolators adviser dillon read and co since late december a hutton spokesman said
he said it would take four or five months to bring operations up to full capacity if the company decides to do so adding that he believes there is a good chance noranda will fully reopen the mine
somerset bancorp inc sombo 3rd qtr net
general merchandise stores rose 14 pct after increasing sales by 16 pct in january and department stores were up two pct in february after rising 15 pct in january
bad weather during the next six weeks could push the soviets back into the market weather analysts said
imports dropped to 431 billion taka in october from 822 billion in september and 472 billion in october 1985
regal petroleum ltd rplo year
it also has asked for information on acquisitions and divestitures the companys accounting system and other internal controls allegheny said
fleet financial group 1st qtr shr 73 cts vs 60 cts
there is also the possibility of production quotas being reduced
south korean trade surplus narrows in february
imperial previously reported 1986 operating net profit fell to 440 mln dlrs or 269 dlrs share from 694 mln dlrs or 427 dlrs share in the prior year
traders expect uk wheat exports to reach 60 mln and barley around 450 mln tonnes
he said balanced foods and greens dairy taken over late last year have a combined annual turnover of 126 mln dlrs which was not included in the 1986 account
diagnostic said its bid was for a total 53 mln dlrs through a cash tender offer for all but not less than 51 pct of rosptach outstanding common
the earlier announcement also said american express and shearson were studying options including expansion of capacity to meet international competition and broadening access to capital
this means that total contractual commitments of 24555 bcf to the australian gas light co of new south wales and the pipeline authority of south australia can be met with spare gas available for sale in south australia it said
the company estimates a production system combining both graven and east flank blocks in the terra nova field could produce about 45000 bpd average daily production he said
this sparked speculation the government was preparing for a reflationary u turn but the finance ministry immediately ruled out any such move
the merger is subject to gghfs receiving financing for the plan datron said
many businessmen said they strongly favoured quick elections as the best solution
be careful he warned theres not as much coffee in the world as they say
bundesbank gross reserves rise at march close
they said the arrangement which is subject to a number of conditions including us design shareholder approval calls for maxtor to issue 12 mln dlrs worth of its own common stock in exchange for all of us design
us britain agree further bank capital proposals
lim who will sign and ratify the agreement on malaysias behalf when he visits new york during his current tour said it was important there should not be a long interregnum between the old agreement lapsing in october and the new one coming into force
in addition to a changing perception about the dollar and monetary policy golden gate futures president norman quinn said the beginning of april could bring foreign investors back into the marketplace
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
five consortia have applied to buy the french state owned telephone equipment manufacturer cie generale de constructions telephoniques cgct which will give the owners control of 16 pct of the french telephone switching market sources close to finance minister edouard balladur said
yankee cos ynk unit to sell asssets
he did not say when this would be but added the contracts would not be bound by restrictions imposed during the second round
they said the discussions led on the polish side by deputy finance minister andrzej doroscz were to renew contacts agreed after an inconclusive meeting in january and the talks were described as a technical meeting the january talks focussed on the rescheduling of about 500 mln dlrs of interest and principal due by end 1986 and also touched upon delays in debt repayments recheduled previously
by 99 to 0 the senate went on record against the 849 cents per bushel tariff approved by the canadian import tribunal
there was no immediate announcement on the councils decision but us officials said it was likely the senior policy groups move on curbs reflected growing american frustration over alleged unfair japanese trade practices
the company said closing is expected by late spring and will result in american travellers being licensed in seven new states
nacco industries inc said it will report a gain in the second quarter of about 115 mln dlrs or 125 dlrs a share from the sale of stock of a subsidiary
the steelmakers had asked moscow to agree to a cutback to 37 mln tonnes in 1987 88 but the soviet union urged japan to increase the amount to 65 mln they said
the operation will put the outstanding bill supply at about 1300 yen
it might be worth contemplating a marketing loan if there were a world market that was lower than our market
he had earlier met federal reserve board chairman paul volcker and us treasury secretary james baker
clabir corp said it has determined all dividends paid on its class a common in 1986 are not taxable as dividend income
oper shr 50 cts vs 52 cts oper net 192 mln vs 188 mln sales 143 billion vs 130 billion avg shrs 386 mln vs 360 mln year oper shr 165 dlrs vs 173 dlrs oper net 627 mln vs 618 mln sales 551 billion vs 496 billion avg shrs 381 mln vs 358 mln notes sales are from continuing operations operating net excludes results from discontinued operations of nil vs profit 2815000 dlrs or eight cts a share in quarter and loss 308000 dlrs or one cent a share vs profit 1880000 dlrs or five cts a share in year latest year operating net also excludes loss of 1536000 dlrs or four cts a share on disposal of discontinued department store segment share data adjusted to reflect two for one stock split paid to holders of record august 1 1986 operating net includes pre tax lifo credit 700000 dlrs vs credit 20 mln dlrs in quarter and charge 28 mln dlrs vs charge 49 mln dlrs in year
some estimated the maple leafs west german market share at 60 pct
oil stocks in western europe were 1474 mln tonnes on april 1 down from the 154 mln on january 1 but still equivalent to 94 days of consumption
spokesmen declined to comment directly on the possibility of selling fichtel shares to mannesmann
the bundesbank had no comment
goodman said it has no intention of making a full bid for the company and would not contemplate doing so over the next six months in the absence of a material change in the circumstances of ranks
oper shr 22 cts vs 22 cts oper net 2058000 vs 2129000 revs 445 mln vs 357 mln avg shrs 9589000 vs 9348000 year oper shr 94 cts vs 94 cts oper net 8889000 vs 8570000 revs 1550 mln vs 1234 mln avg shrs 9450000 vs 9174000 note net excludes discontinued operations gain 1637000 dlrs vs loss 720000 dlrs in quarter and gain 4679000 dlrs vs loss 720000 dlrs in year
it said a bank can sell the bonds on the secondary bond market for either dlrs or pesos depending on its requirement
fcs said that if various aspects of the proposal are better defined its board may consider it
shr loss two cts vs profit 10 cts net loss 79000 vs profit 507000 revs 106 mln vs 2238000 12 mths shr profit two cts vs profit 23 cts net 89000 vs 1130000 revs 214 mln vs 7766000
azpurua said the new terms have been telexed to venezuelas 450 creditor banks for acceptance with information on government plans to draw up debt capitalization rules and return to the capital markets
the report said that although the government had succeeded in cutting inflation 50 pct a year in the first half of 1985 to under 70 pct its stabilisation and reactivation programme was encountering increasing difficulties
last year a large proportion of the crop was not drilled until may but it still turned out to be the equal second largest on record
company officials could not be reached for comment on the causes of todays share rise
ec farm ministers have been unable to agree the tax one of the main items proposed by andriessen for the 1987 88 farm price package
in a filing with the securities and exchange commission harris said it bought 36700 builders transport common shares on feb 10 at 17 dlrs a share
the company said the technology will allow it to introduce a cleaner and more efficient way of making methyl methacrylate a liquid monomer used to make resins for acrylic sheet coatings molded parts and products and plastic impact modifiers
while oil prices have strengthened somewhat and there is good reason to believe that the general level is sustainable continued volatility is likely texaco canada added
us offers to escort kuwaiti tankers in gulf
in a newspaper advertisement the firm said the offer proration period and withdrawal rights expire november 17 unless extended
but lending ratios do not extend to several newer instruments such as spot and forward currency contracts currency and interest swaps commercial paper programs currency options interest rate futures in foreign currencies and various innovative types of interest rate hedges
a grain elevator in burlington iowa exploded today leaving five injured
the ec scheme involves emergency measures to reduce tensions in troubled surplus sectors of cereals and cereals substitutes dairy and sugar
around 140 grain handlers stopped work 125 of them at the two europoort locations of graan elevator mij gem which handles about 95 pct of grain oilseeds and derivatives passing through rotterdam
only these 18 japanese branches of foreign owned brokers would meet other existing requirements to participate
the company said its fourth quarter and year losses resulted from additions to loss reserves
south korea raises naphtha price
conable added that cooperation between the bank and its sister agency the international monetary fund was good and that he talked often with imf managing director michel camdessus on a variety of issues
tech data tecd sets three for two split
despite the market reaction first boston corp analyst arlene barnes applauded the pacific gas decision
tab products co tbp 3rd qtr feb 28 net
usda conduct a study of the findings of a national commission on agricultural export policy which recommended a reorganization of usdas trade policy apparatus
security pacific spc registers debt
a return to the gold standard is generally dismissed out of hand by most policymakers on the grounds that the largest producers of gold are the soviet union and south africa
the company set up its restructuring program to fend off a hostile takeover attempt by sir james goldsmith
in some cases the results were substantially different than the oecds in part because farm policies in both the us and elsewhere had changed markedly by 1982 84 from the oecd base period of 1979 81 us officials said
the brunswick mine produced 413800 tonnes of zinc and 206000 tonnes of lead last year at a recovery rate of 705 pct zinc and 556 pct lead
shoe town inc shu year ended jan three 1987
it has been well established that high cholesterol levels will have a higher level of heart disease he said
japanese officials in tokyo today reiterated that japan had no plans to bow to uk and us pressure to give foreign telecommunications firms a bigger role there
the rating agency cited home shoppings plan to issue additional debt thereby increasing leverage
the securities and exchange commission said it charged a managing director of merrill lynch pierce fenner and smith ltd in london with masterminding a massive insider trading scheme nahum vaskevitch the managing director of the mergers and aquisitions department of the brokers london office was charged in a civil complaint by the sec filed in manhattan federal court
martin said the coming rebound reflects new product introductions in the mid range area rather than any drastic improvement in economic growth or us capital spending
jaguar hedges a majority of its dollar receipts on a 12 month rolling basis and plans to do so for a larger part of its receipts for longer periods john egan said
circle express cexxo ends overland overo buy
standard oil raises alaska north slope by 150 dlrs effective april one
s p says corporate downgrades may ease this year
nine mths 1987 includes seven cts gain for partial settlement on an insurance claim
morgan stanley and co inc was the placement agent
and if the buffer stock manager delays too long in buying or is not seen to be using his purchasing power when the market is relying on him to do so the bearish trade reaction could pressure prices dramatically dealers said
our representatives have gone to washington to the international monetary fund the world bank the fed federal reserve board and the us treasury to brief them in advance on this alternative and it has generally been positively received we dont believe that there is going to be a problem on the accounting side ongpin said
president corazon aquino had accused some creditor banks of non too subtle coercion in threatening to refuse to sign the rescheduling accord until the loan problem was settled
before seasonal adjustment consumer credit outstanding totaled 57605 billion dlrs at the end of february compared with 53041 billion dlrs at the end of february 1986
underwriters said 22 firms bid for them far more than the number of managers who typically bid for corporate debt as wall street houses are trying to boost their share of the young taxable municipal debt market
the issues are 12 billion dlrs maturing april 25 1989 635 mln dlrs maturing april 27 1992 and 300 mln dlrs maturing april 25 1994
that very well may be the case said tom kay us agriculture department foreign agricultural service administrator
some is now being used to grow industrial crops instead of grain
wallace computer wcs buy office products firm
yesterday funds averaged 601 pct
the january november export total of 289232 compares with 165859 tonnes in the first 11 months of 1985
debartolo corp have closed on their previously announced purchase of five of the regional shopping centers of allied stores corp
american savings said the purchases boost its deposits by about 550 mln dlrs but do not affect its asset base
dixons said it would accept shares validly tendered and not withdrawn by midnight tonight
japan added 689700 tonnes to previous purchases and sales to unknown destinations rose by 429800 tonnes
assuming an 18 mln acre drop in plantings us corn production will also decrease significantly
the won strengthened by 660 won to the dollar in three days earlier this month while an international monetary fund team held talks here to discuss revaluation
frances right wing government is facing growing pressure to modify its economic policies after revising down its 1987 growth targets and revising up its inflation forecasts for this year
general host gh sees year loss
a dominion spokesman said canadas largest textile producer has been negotiating with many us textile companies but would not say whether burlington was among them
the department said the feed is for delivery during april
the ft is subject to a 70 mln stg investment programme with the printing and publishing operation moving to a new plant in the london docklands next year
stocks july 31 1986 at 935 vs 935 last month
the fundamental direction of interest rates continues to be upward interrupted by intermittent rallies kaufman said in a statement
theres going to have to be some acknowledgement that the dollar is going to be allowed to slip said richard jeffrey of hoare govett
in january the cost of living increased by 64 pct from december and stood 918 pct higher than in january 1986
feds johnson stresses price stability
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
shr 24 cts vs 18 cts shr diluted 21 cts vs 18 cts net 2108805 vs 1605278 sales 289 mln vs 242 mln note share results reflect two for one stock split to be paid july eight
shin etsu put potential demand for the product at two tonnes a month mainly for microwave ovens and as a sealant
php healthcare corp phph 3rd qtr jan 31 net
a house banking subcommittee approved legislation which would require the treasury secretary to begin negotiations on the establishment of an international debt adjustment facility
we are still awaiting their decision he added asking not to be identified
the commerce has been slowly but surely moving encor in the direction that might make it a saleable asset said one analyst who asked not to be named
the bankers said the controls announced on march 6 are a panic reaction to us pressure which has intensified over the past week for a faster appreciation of the taiwan dollar to slow the growth of taiwans exports to the us the government has denied local press reports washington is pressing for an exchange rate of up to 28 dlrs
royal bank said it set its provisions given the continued debt servicing problems in the north american energy industry and the uncertain outlook for energy prices and also continued to add to its general provisions for loans to troubled borrower countries
this capped the us 1987 high yield on the 30 year bond of 793 pct seen yesterday
emery said if it were to acquire 51 pct of purolator shares or control of the purolator board it has agreed not to dispute pc acquisitions right to receive fees that purolator agreed to pay if pc were unsuccessful in acquiring control of purolator due to the acquisition of control by another party
philippine argentine debt talks continue
there are about 6500 fitness clubs in the us excluding clubs run by not for profit organizations according to the association of physical fitness centers who estimates it to be an 80 billion dlr a year industry
the ministry said february exports totalled 738 billion francs an 89 pct increase on january while imports totalled 743 billion francs an increase of 58 pct
among the reports options to ease us reliance on foreign oil are several already advocated by the reagan administration
if venezuela and mexico have concluded their negotiations we want to end ours in a reasonable manner and as soon as possible he said
in the year ago period the company earned 534 mln dlrs or 365 dlrs a share on sales of 4028 mln dlrs
the fed said that overall borrowings in the week fell 131 mln dlrs to 614 mln dlrs with extended credits up 10 mln dlrs at 304 mln dlrs
he said the increase includes all of its equadorian loans which he expects will be ultimately repaid after the company recovers from an earthquake earlier this year
the average price per barrel decreased to 1472 dlrs from 2641 dlrs
in the corn belt states of illinois and indiana 217000 acres and 116000 acres respectively were enrolled
us ruling on brazil fcoj may come tomorrow
carver corp cavr 4th qtr net
it said cap shareholders will receive 140700 first preferred groupe cantrex shares entitling the holders to receive 605 dlrs per share or the equivilant in class a subordinate voting cantrex shares
however the bank said it reserves the right to limit any money market maker from buying more than 25 pct of a single auction
but the discussions could not produce a deal acceptable to our board in the context of the companys stronger financial position today as compared to six months ago gallo said fcs will stop actively seeking potential merger partners but will respond to serious inquiries
the government itself has said it expects growth of just under two pct compared with a 24 pct expansion in 1986
qtly div 37 1 2 cts vs 37 1 2 cts prior pay may 15 record april 15
but its net loss last year taking account of that depreciation as well as currency fluctuations was 116 billion francs after a 105 billion loss in 1985
cocoa origins dismayed by buffer stock action
this would be equal to a dividend of 46 cts a share on the present common seven pct higher than the current rate
petro canada raises crude postings 32 cts canadian bbl
uk issues one billion stg bond tranche
vestar inc vstr year loss
midivest acquires assets of business aviation
bellsouth said the services aimed at companies requiring up to 20 telephones include speed dialing for 500 frequently called numbers last number redial conference calling and speakerphones among others
ocilla industries inc said its flintstone industries inc subsidiary obtained a three mln dollar revolving credit with bank south corp bkso it said bank south will lend flintstone amounts constituting up to a maximum of 80 pct of acceptable receivables and 25 pct of acceptable inventory as defined in the loan agreement
demand for some products such as styrene could push profit margins up by as much as 300 pct he said
uk money market deficit forecast at 450 mln stg
the key to both forecasts is a marked improvement in the us trade balance which is expected because of the decline in the dollars value over the last year and half
the upper reaches of the yangtze are at their lowest levels in a century causing many ships to run aground wen wei po said
qtly div nine cts vs 75 cts in prior qtr payable april 15 record march 31
earlier this year monetary sources said the us treasury unsuccessfully sounded out allies on a target zone system
cms advertising inc said its board has approved a three for two stock split in the form of a dividend payable march 30 to holders of record march 16
if the wheat board which markets most of canadas grain obtains higher than expected prices on world markets the farmers receive a final payment at the end of the crop year
he said diversification into products other than ethanol was also possible within the sugar industry
chemlawn corp chem could attract a higher bid than the 27 dlrs per share offered by waste management inc wnx wall street arbitrageurs said
the report forecasts cocoa exports to rise to 35000 tonnes this year from 33000 tonnes in 1986 and 31000 in 1985
carlos brasil an adviser to the ibc president said dauster had left rio de janeiro for managua early this morning
paul hylbert president of sequoia has been named president and chief executive officer of the new company
the saudi figures include a 200000 bpd share of neutral zone production
dauphin deposit dapn to acquire colonial
they said a closure of the strait of hormuz through which around eight mln bpd passes isnlikely because it is not in the interests of the us or iran they said
tesco plc tscol said that county ltd had yesterday bought on its behalf 206 mln shares or around 42 pct in hillards plc for between 302p and 310p a share
baker expected to defend debt strategy
cook united inc expects loss of 16 mln dlrs for fiscal 1987
national banc of commerce co nbcc sets payout
senior delegates pessimistic on ico talks
holder communications hold to buy five firms
shr 27 cts vs 21 cts net 988000 vs 784000 nine mths shr 82 cts net 3040000 vs 2089000 assets 2842 mln vs 2440 mln loans 2037 mln vs 1335 mln deposits 2117 mln vs 1795 mln note 1986 nine mths per share not available because bank did not convert to stock form until may 22 1986
hechinger co is raising 125 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 5 1 2 pct coupon and par pricing said sole underwriter morgan stanley and co inc
hindustan lever profits rise for 1986
the original target date to resume limited crude output was may eight the scheduled date for the inauguration of the lago agrio to puerto colon pipeline an energy ministry spokesman said
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
the white house economic policy council decided to recommend trade sanctions against japan for violations of the us japanese semiconductor agreement industry sources said
unocal corp said it raised its posted prices for most us grades of crude oil by 50 cts a barrel effective october 16
ceco corp repurchases 20 mln dlrs in notes
shr 16 cts vs 14 cts net 954000 vs 777000 revs 247 mln vs 215 mln avg shrs 6000000 vs 6000000 nine mths shr 39 cts vs 34 cts net 2314000 vs 1805000 revs 692 mln vs 593 mln avg shrs 6000000 vs 5363000
trade between argentina and brazil jumped 90 pct in 1986 versus 1985 foreign minister dante caputo said
in the financial year to end february 1987 capital recorded pre tax profits of 37 mln dlrs on a turnover of 58 mln dlrs from the sale of 421 homes
the reserve bank of australia said it would offer 500 mln dlrs of 13 week treasury notes and 200 mln dlrs of 26 week notes for tender next week the bank said it would take up 300 mln dlrs of the 13 week notes at the average yield
but they indicated that ibms chances for a full recovery hinged on several key factors whose impact will not be felt until later in the year
the post and telecomunications ministry reiterated again that it sees no need for two competitors to kokusai denshin denwa co ltd which holds a monopoly on international calls from japan
bankamerica corp may place its long term loans to brazil on nonaccrual status if brazil continues to defer interest payments on the loans the bank holding company said in a filing with the securities and exchange commission
sage analytics saii sets stock split
but the senate bill would not offer the 0 92 option to wheat and feedgrains producers or raise the 400 mln dlr ceiling on the disaster assistance program
earlier venezuelan energy and mines minister aturo hernandez grisanti said his country would supply an unspecified part of ecuadors export commitments
world per capita consumption of vegetable oil will rise in 1986 87 for the third straight year
the sources were quoted as saying that after opec had in march demonstrated its commitment to quota agreements some members had raised output last week
bonn intends to keep leaded premium petrol pumps diplomats said
the bank of japan intervened in early afternoon tokyo trading to support the dollar against active selling by institutional investors and speculative selling by overseas operators dealers said
imf loans uganda 921 mln dlrs
rhm said it regards the stake build up as a hostile move which is unwelcome and not in the long term interest of shareholders
it said government compensation in the form of subsidies to refiners to partially cover stock losses together with improved crude prices in the second half enabled the groups oil business to make a modest pre tax profit
emerson electric co is offering in the us debt market 100 mln new zealand dlrs of notes due 1989 with an 1855 pct coupon and par pricing said lead underwriter prudential bache securities inc
transcanada pipelines ltd trp yesterday bid 430 billion dlrs for dome but dome said it was discontinuing talks with transcanada and was considering a proposal from another company and was also talking with another possible buyer both rumored to be offshore
reagan said he remains concerned about the market but that actions taken by the federal reserve have helped
hydro quebec issues canadian dlr bond
this kind of commodity chemical business will never be a glamorous high margin business cain said adding that demand is expected to grow by about three pct annually
colombia is holding a snap selling tender tonight for one cargo of world market raw sugar traders said
it said the drought has made rice planting difficult in eight provinces including guangxi sichuan and hunan
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
consolidated owns 42 mining concessions in three regions of eastern and northern brazil gammara santo antonio and diamazon the company said
he added that the allocations would probably be in the form of loans to be repaid when these nations resume sales
basf reported 136 pct lower 1986 world group pre tax profit at 263 billion marks compared to 1985
these were excluded on the grounds the subsidiary failed to sufficiently support cost recovery
the statement was issued during the last of a two day meeting here between the two sides
nearly 90 pct of the surplus was with the us vice economic minister wang chien shien agreed with wangs remarks and said efforts to avert us protectionism were running out of time
soviet planning chief nikolai talyzin told the supreme soviet parliament industrial output is planned to rise by 45 pct in 1988 up from a planned 44 pct in 1987
this could turn into a serious political problem west german trade sources said they believed the one mln tonne offer by the ec sugar industry into intervention would have a neutral market impact overall
chinas trade deficit totalled 700 mln dlrs in the first two months of this year according to figures released by the state statistics bureau
brazils coffee exports could amount to 19 mln bags this year because of the excellent crop estimate of 352 mln bags an ibc spokesman said
shr 15 cts vs 14 cts net 2028000 vs 1879000 revs 321 mln vs 295 mln
qtly div 22 cts vs 22 cts previously pay april 15 record march 31
in a interview brazilian coffee institute ibc president jorio dauster urged producers not to panic and said they need to make hard commercial decisions
the proposed contract would provide for the delivery of 48000 lbs plus or minus two pct of bulk hfcs 55 a liquid food and beverage sweetener produced through processed corn starch by corn refiners
a turning point seemed to be dainippon ink and chemicals incs diact takeover bid for sun chemical corp of the us last year which some analysts saw as somewhat hostile he added
in june the icco is due to discuss rules for a withholding scheme as an additional market support mechanism
bank of japan to sell 500 billion yen in bills
however revenues and earnings should consistently increase throughout the remainder of the year president louis cosentino told analysts
trilon declares stock dividend
pdvsa income on oil sales fell 45 pct in 1986
the company said its was served the suit in minneapolis on march 31 the day after it announced its definitive merger agreement with bristol myers
market sources and analysts speculated that twa chairman carl icahn made the offer in order to put his own airline into the takeover arena
douglas also said the years sales should exceed 14 billion dlrs up from 127 billion dlrs the prior year
the company said other factors it considered in rejecting the offer were its financial condition future prospects current market conditions and the numerous conditions on which sosnoffs bid was conditioned
uk money market given further 104 mln stg help
it said the acquisition would lift jannock imaging revenues to 50 mln dlrs this year
the ucpb had said the 500 mln peso payment would be forfeited because smc chairman andres soriano iii had failed to fulfil his commitment to buy back the shares at an originally negotiated price of 33 billion pesos
sarney last month suspended interest payments on brazils 68 billion dlr commercial debt a move which has found little favour among the countrys business community
norstar bancorp said it reached an agreement in principle to buy united national bank of callicoon through a stock exchange valued at 20 mln dlrs
mony real estate investors mym 3rd qtr feb 28
the gdp deflator based on expenditure at market prices rose 12 pct in the fourth quarter from the third to give a 24 pct rise over fourth quarter 1985
the spokesman replying to queries about press reports said he could not rule out the possibility that the final loss figure may be slightly above this range
prices have been on the increase and quality of goods produced has been low
montedison concludes talks with antibioticos
us grain certs save 50 100 mln dlrs amstutz
partially offsetting these exchequer transactions would add around 355 mln stg the bank added
norstar nor to buy callicoon bank
turning to the 1986 fourth quarter bayer said that world group turnover fell to 967 billion marks in the last three months of 1986 from 1043 billion in the same 1985 period
the bank is being sold to the public as part of a sweeping programme to privatise 65 state owned groups over five years
brokers said the disease had not affected prices because it has not caused a drop in production
the m 1 increase was surprisingly modest and i suspect we are on our way to another moderate set of m 2 and m 3 figures for march said salomons di clemente
last december tazara carried 36000 tonnes of zambian mineral ore the lines record for any one month period he added
banks which found this rate unacceptably low would be offered an alternative of libor payments in cash plus a margin of one pct in the form of philippine investment notes pins bankers explained
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
the most urgent item on yesterdays agenda was the need for a legal rollover of some 16 billion dlrs in trade and interbank credit lines extended to brazilian banks which expire at the end of march
tribune co said it completed the sale of the danville va cable television system to cablevision industries ltd partnership affiliated with cablevision industries inc of liberty ny it said the danville system was one of two systems acquired by tribune on september 30 1986 as part of its purchase of the daily press inc publisher of the newport news daily press and the times herald
metro mobile cts inc said it declared a 10 pct stock dividend
presidential spokesman marlin fitzwater said the new figures signalling more economic growth in coming months showed that the index was back on track after its downturn at the first of the year
tanzania has arranged to sell 53000 tonnes of maize to malawi mozambique and zaire radio tanzania said
the chubb corp cb sets qtrly payout
oper shr profit 45 cts vs profit 56 cts oper net profit 1492000 vs profit 1842000 sales 365 mln vs 385 mln year oper shr profit 48 cts vs loss 244 dlrs oper net profit 1596000 vs loss 8084000 sales 1311 mln vs 1445 mln note 1986 year net includes pretax provision for loss on sale of subsidiary of 1600000 dlrs
the federal reserve is likely to add temporary reserves to the banking system this morning by executing system repurchase agreements economists said
bellsouth said under the nov 25 1986 agreement it exchanged one of its common shares for every 133 dataserv common shares
it has been exceptionally well received by the city looks good to foreign investors and we are sure to see a rush to tap the eurosterling markets now he added
the won was set at 84550 yesterday
the issue has denominations of one mln guilders and maturities ranging from two weeks to one year
meinhardt said linde strengthened its market position in the refrigeration sector with particularly strong turnover and order gains in austria italy and norway
loan loss provision 138 mln vs 130 mln investment securitiesd gaons 2003000 dlrs vs 169000 dlrs
the us agriculture department is preparing a proposal that would require all foreign meat products to be inspected at their point of arrival in the united states a usda official said
grow group inc gro sets quarterly
dollar seen falling unless japan spurs economy
qtly div 27 1 2 cts vs 27 1 2 cts prior pay may one record april 17
unlike world market raw sugar prices in dollars white sugar french franc prices are not particularly high and are not encouraging higher planting levels he said
cash in circulation rose by 14 billion marks in the week to 1229 billion
china faces extended sorghum shortage
the total area planted with soybeans for this harvest was a record 37 to 38 mln hectares and increased 108 to 138 pct compared to the 33 mln hectares planted last year
they said the reduction brings exxons contract barge price to 4975
we would from august on produce our own quota and sell the additional amounts that ecuador would be repaying us he said
it said there were good opportunities for growth in both existing and recently acquired businesses as well as for growth by acquisition in related areas
the underwriting margin was raised to 10 basis points over the australian dlr bank bill rate
the results were largely in line with forecasts and rugby shares were little changed at 242p after 241 at fridays close
kay kay to acquire specialty fastener firm
but mexico halted its debt for equity program in february in an effort to concentrate on finalising the package
relations between computerland and its franchise owners have mellowed recently after millard was forced to give up managment control of the company in 1985
senior banking sources noted that the surge in bank lending was evidence of the continuing recent trend of fairly heavy personal sector borrowing
shr loss eight cts vs profit 10 cts net loss 714905 vs profit 889679 revs 1091461 vs 3156569 year shr loss five cts vs profit 22 cts net loss 422037 vs profit 1850637 revs 6642490 vs 7948312 avg shrs 8808323 vs 8412822
under manilas plan the pins would be redeemable at full face value in philippine pesos to fund local equity investments at any time prior to their six year maturity date
cb and t bancshares inc cbtb 1st qtr net
jumardi jukardi head of pertaminas coordinating board for foreign contractors said foreign companies will drill 110 exploration wells and 431 development wells this year against 108 and 330 last year
ventra buys joint venture leasing
analysts have speculated that carl lindner may be interested in acquiring the company
deilmann inc of west germany said the firm had earmarked at least 50 mln dlrs to spend on oil reserves in texas oklahoma or louisiana in the coming months
amc amo studying chrysler c proposal
protectionism is not found only in the us
the bank said the loan will be used to boost production by injecting gas in the partially depleted assam oil fields and to assist exploration in other areas including drilling 10 exploratory wells
it said it hoped to narrow its trade deficit with japan to two billion dlrs by 1991
it said it will promote a vigorous exploration program in the areas for the rest of 1987 and in the future
chinas soybean crop this year is forecast at 115 mln tonnes down slightly from 1155 mln estiamted for last year the us agriculture departments officer in peking said in a field report
shr profit three cts vs profit nine cts net profit 102136 vs profit 307516 revs 8459182 vs 8469476 avg shrs 3448218 vs 3613672 nine mths shr loss 13 cts vs profit 28 cts net loss 458823 vs profit 1014969 revs 255 mln vs 246 mln avg shrs 3467099 vs 3612626
it said the portfolio consists mostly of charged off loans
shr 27 cts vs 22 cts net 1866000 vs 1476000 revs 330 mln vs 303 mln nine mths shr 71 cts vs 57 cts net 4828000 vs 3857000 revs 920 mln vs 890 mln
it said the action reflected the preferreds diminished importance in the capital structure following the recent conversion of 280 dlr convertible cumulative preferred shares which had a 200 mln dlr liquidiating value
today it reported 1986 net income of 2246000 dlrs or 66 cts per share on revenues of 683 mln dlrs up from 1064000 dlrs or 37 cts per share on revenues of 408 mln dlrs a year before
prior to the acquisition gartner group owned one third in the comtec partnership it said
in a filing with the securities and exchange commission the group said it sold a net 31858 shares of rospatch common stock between february 2 and march 31 at prices ranging from 2150 to 2513 dlrs a share
proceeds will be used to increase the banks regulatory capital and for general corporate purposes tcf said
william reynolds describing the offer general partners said it was willing to negotiate terms of the offer and was prepared to meet as soon as possible
first commercial bancorp fcob 4th qtr loss
the company said even if the purchase of the 9309394 piedmont shares caused it to exceed the 51 pct limit usair would waive the condition to the offer that the transportation department approve a voting trust agreement permitting usair to buy and hold shares under the offer pending review of usairs application to gain control of piedmont subject to the order not being rescinded or modified in an adverse way
mcdonnell douglas corp has received a 600 mln dlr contract for long lead advance work on f 15e aircraft the air force said
it said malaysias external debt totals 48 to 49 billion malaysian dlrs and its debt service ratio exceeds 20 pct
he said bat was looking to expand in the area of financial services in particular in the us sheehy also said the group had no sizeable acquisitions in sight in the near future
last year the sec charged members of the wealthy belzberg family of canada with taking part in a warehousing scheme while it was accumulating stock in ashland oil inc
southland slc targeted in sec investigation
baldwin piano bpao files secondary offering
frolov said the soviet union exported 500 mln dlrs worth of goods to the united states in 1986 and imported 15 billion dlrs worth
we are trying to rebuild the culture of productivity and manufacturing keating said the foundation for a transition of the economy had been laid with the floating of the australian dollar and continued with wage restraint and deregulation
hudson foods hfi to make acquisition
anacomps sales for the year ended sept 30 1986 were 1088 mln dlrs
concerning saudi arabia oakley said we are moving forward in our talks on how we can tailor our efforts and security cooperation to facilitate our gulf operations
baglini said the counter proposal did not take into account argentinas request for a 215 billion dlr loan to meet four pct growth targets in 1987
the partnership in its statement again urged gencorp management to work with it to facilitate a transaction
weather in the soviet union also allowed good beet development licht said
once the board made the decision to authorise the proposal it had a legal obligation to announce it he said
an indonesian ministry of trade official said this was incorrect
the 500 mln dlr asset bank holding company said that in view of recent investor interest in suburban chicago banks it retained merrill lynch capital markets to advise it on its alternatives
australian wheat exports rise in february
unocal ucl raises crude oil posted prices
total copper stocks held by us rod mills and refiners including wirebars cathodes scrap rod and in process material dropped to 155467000 lbs at the end of january from 203513000 lbs at the end of december the american bureau of metal statistics said
the bank said it expects the distribution will be made in early may subject to various approvals
a drop in the ecgds business volume and a rise in its debt to the exchequer have led to criticism in parliament in recent years
shr 47 cts vs 40 cts net 4258000 vs 5942000 revs 926 mln vs 771 mln avg shrs 8977000 vs 150 mln year shr 122 dlrs vs 134 dlrs net 164 mln vs 200 mln revs 3291 mln vs 2721 mln avg shrs 135 mln vs 150 mln note interest expense 4384000 dlrs vs 545000 dlrs in quarter and 6979000 dlrs vs 2425000 dlrs in year
the pentagon announced on monday that us warships destroyed a non producing oil platform used for monitoring gulf ship traffic and military operations and also raided a second iranian oil rig in retaliation for an earlier iranian attack on a kuwaiti ship flying the american flag
charles stenholm d tex which would limit 0 92 only to producers of 1987 crop winter and spring wheat
cotton entering gins is of fairly good quality according to trade sources it said
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
at present astra stock consists of one series of restricted shares and one of free shares
mcandrews and forbes said it informed the board of directors of revlon that it expects to make a formal proposal in the near future
until recently federal issues sold very strongly abroad with up to 90 pct of some being placed with foreign investors
the senate unanimously approved legislation to lift a ban on new construction of natural gas fired power plants and other large industrial gas burning plants
the seasonally adjusted trade surplus fell to 916 billion dlrs in february from the record 958 billion in january the ministry said
building society income has been depressed in recent months he said
delegates from all 43 asian member countries of the g 77 are expected to attend the later meeting
net 38 mln vs 57 mln revs 171 billion vs 169 billion note fully owned subsidiary of hoechst ag
monetary policy must be first and foremost stability policy and successful stability policy is money supply policy nothing else he said
allisons place inc alls 4th qtr net
shv says it making tender offer for up to 33 mln shares in ic gas
gould inc said it registered to offer two mln shares of convertible exchangeable preferred stock
it also said it is discussing placing additional convertible debentures with london based financial institutions
in return washington agreed to forego antidumping duties on japanese semiconductors
amr corps american airlines and citibank are expected to announce a joint marketing program at a press conference tomorrow analysts said
the report dated april 7 said the reduction is based on an expected smaller harvest in the center south region
although he recently received clearance from the federal trade commission to raise his stake in the company to 249 pct lindner in previous sec filings has always stressed that his interest in taft was for investment only and not was not seeking to control the company
defence commitments continue to exert pressure on the expenditure side the 54876 mln cash would cover payments of 150 rupees per month for each family as well as handling transport and distribution of emergency food
bil chief executive paul collins said all rainbow has done is to outlay a substantial amount of cash to purchase shares from parties who presumably were supportive of the merger rainbow has proposed a merger with progressive to form a new company astral pacific corp ltd under the merger shareholders in both progressive and rainbow will be issued shares in the new company on a one for one basis
tanzania wants to export 200000 tonnes of maize
recent us oil demand up 19 pct from year ago
the bank financed the loans by issuing two billion yuan of bonds but she gave no other details
earlier this morning it bought 17 mln stg of bills at the same rate and for resale on the same date
in the european mediterranean area the rig utilization rate rose 06 pct to 536 pct against 673 pct one year ago
oper shr profit 14 cts vs loss 31 cts oper net profit 374000 vs loss 707000 revs 191 mln vs 155 mln avg shrs 2610000 vs 2560000 year oper shr profit 20 cts vs loss 69 cts oper net profit 530000 vs loss 1376000 revs 691 mln vs 643 mln avg shrs 2603000 vs 2565000 note excludes gain of 309000 dlrs vs loss 72000 dlrs in qtr and gains of 458000 dlrs vs 23000 dlrs in year from tax loss carryforwards
albert holderson knutson chairman said he expects earnings of about 40 cts per share for the quarter as a result of a strong mortgage business during the quarter
oregon steel buys kaisers napa valley plant
the biffex board is expected to reach a decision on the merger at its meeting at the end of this month after members are consulted at a meeting on march 16
others have less formal agreements with the parent like general electric credit corp ge whose aaa rating reflects its parents general electric co
atlantic city electric ate debt lowered by s p
turkey lifts survey ship escort as tension abates
the companys so called pathfinder prospectus gives all the details of its stock market flotation except for the price at which shares will be offered
she was unable to say if there had been any prior contact between waste management and chemlawn officials
unilever plc shares are up 25p since yesterday at 2575p in buoyant response to the results and share split proposal though 1986 profits were not ahead of market forecasts dealers added
the tin research proposal would be presented at an atpc meeting to be held in kuala lumpur in september
march us savings bonds sales rise strongly
the countrys gdp which contracted by 06 pct last year should again show growth over the next two years rising by 025 pct this year and a more substantial 275 pct in 1988
north korea to resurrect gold mine to repay debt
waste management corp said its board voted a two for one stock split payable april 21 record march 30
officials from indonesia malaysia singapore and perhaps thailand will meet here tomorrow to discuss increased regional cooperation on rubber marketing and ways to raise rubber prices industry sources said
the reserve bank has raised its daily cash target to 45 mln nz dlrs from its normal 30 mln dlrs
a colombian group announced the suspension of its bombings of oil pipelines pending the governments levy of a social tax on foreign petroleum companies and an 800 mln dlrs fine on the occidental petroleum corp oxy there was no indication the government would meet the conditions demanded by the leftist national liberation army eln according to the state oil firm ecopetrol the eln carried out 72 attacks on petroleum pipelines between 1984 and 1986
no further details were immediately available
comalco said it expected to pay at least a four cents per share final dividend delayed until july 1 to take advantage of proposed dividend imputation laws
this would compare with the previous record set last year of 603 mln
hu said while the new government securities market will be essentially domestic non residents are free to invest but interest earned will be subject to withholding tax
he said the countrys balance of payments was now projected at a surplus of about 12 billion dlrs in 1987 compared with a surplus of about 11 billion dlrs in 1986 and a previous projected deficit of 12 billion dlrs this year
few bankers see little chance for a subtantive recovery in bolivias economic fortunes and so are willing to collect what they can on the loans
toronto dominion issues 20 billion yen eurobond
synalloy syo ends plans to sell unit
under terms of the agreement tendering shareholders will receive 2460 dlrs per common share 20 dlrs per preference share and 8750 dlrs per preferred share
unicorp american corp uac 4th qtr net
but the us embassy report says president suhartos government appears to be divided over what direction to lead the economy
following the imf talks the fixed exchange rate will be adjusted against a basket of five major currencies but it will not fall below 1250 kwacha per dollar chivuno said
what there is are bags of sawdust
nj rep
it said the issues consist of 150 mln dlrs of non callable notes due april 1 1994 which are priced at par with a coupon rate of 8 1 2 pct and a 300 mln dlr issue of notes due april 1 1997 with a coupon rate of 8 3 4 pct and priced at 99447 to yield 883 pct
his comments appeared to serve notice on other major nations that washington cannot wait too long for action to reduce the gap between the japanese and german trade surpluses and the us trade deficit
vws audi says profit fell around 50 pct in 1986
wonnacott an economics professor at the univerity of maryland said an agreement should include elimination of tariffs between the two countries phased in over a five to 10 year period equal access to federal government procurement in the two countries replacing current buy america and buy canada provisions with a buy north america provision fewer restrictions in trade in services chiefly finance and transportation a commitment not to screen foreign investments in favor domestic producers a commission to resolve bilateral trade disputes
he noted however the increasing focus on cost sharing could limit technological innovation
but prime minister felipe gonzalez insists that the state is doing as much as it can
portugal contracts for 150 mln ecu loan
traders said that barring any surprises in tonights report they expect the report to be neutral to bearish for oil prices
thrift
the other three saw a current account surplus in 1987 of at least 60 billion marks and predicted that the trade surplus would fall to only around 100 billion marks from 112 billion in 1986
santos ltd stoss year ending dec 31
boddington is principally a bauxite mine
broadview financial corp bdvf 4th qtr loss
it said the seasonally adjusted current account deficit of 322 billion dlrs in the quarter would have dropped to 912 mln if not for the terms of trade decline
alcoa aa to sell american powdered metals
continental federal conf holder to sell stake
marine midland mm sells capital notes
irving trust v raises prime rate
permits for single family houses fell in january by 66 pct to 1091000
some one billion marks will be issued for immediate sale and the remaining 200 mln marks will be set aside for market regulation
the additional guarantees increase the cumulative fiscal year 1987 program for sales of us agricultural products to algeria to 4690 mln dlrs
no price was disclosed by the company
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
commerce secretary malcolm baldrige said after the release of a sharply lower january leading indicator index that a pickup in exports is needed
fidelity bank senior economist mickey levy said some of the fourth quarter slowness will continue
its a very large company and its being sold for 50 or 60 mln dlrs said gardner in a telephone interview with 
the cumulative official capital surplus narrowed to 290 billion dlrs from 386 billion
but foreign exchange dealers were not overly impressed by the authorities intervention which they said can only soften extreme moves in the market
the main coffee growing areas in eastern zimbabwe have received little rain since april 1986 and the coffee growers association has begun a survey to assess the effects of the drought a spokesman said
the rally was led by spot month heating oil contract which seemed to move higher because of tigtened prompt deliveries in new york harbor said james ritterbusch vice president at paine webber inc in chicago
export import bank of japan president takashi tanaka told brazil the bank will continue to cooperate with it but he refrained from making any commitment to a new credit ex im officials said
stc plc stcll year to end 1986
moreover cost increases associated with the in service delay of the 41 pct owned nine mile unit 2 from september 1987 to early 1988 along with prospective delays are unlikely to be recovered under the cost settlement agreement for the nuclear unit moodys noted
it said the new plant is expected to be in operation before year end and and will more than double gilliams production capacity for upholstered furniture
renault to forgive american motors amo debt
uk intervention board details ec sugar sales
national distillers and chemical corp said it signed a definitive agreement to sell its spirits division for 545 mln dlrs to james beam distilling co a unit of american brands inc amb the sale of the spirits division was made under the companys previously announced plan to sell its spirits and wines businesses it said
zairean officials blame their present difficulties on the imf recovery plans two basic assumptions which they said failed to materialise last year a world economic recovery pushing up commodity prices and boosting zaires export revenue and debt servicing capacity substantial additional financial help from the countrys traditional donors
the company which owns and operates 47 cable television systems in minnesota and wisconsin said it retained communications equity associates as its financial adviser to explore alternatives
both are payable may one to holders of record april 10
in a report dated march 10 the official said that about 800000 tonnes of the corn has been delivered with the balance of 700000 tonnes to be shipped between now and june
a foreign ministry official dismissed arguments made by senior us government officials seeking to block the sale of a us microchip maker to a japanese firm
if the drought does not worsen there is hope for a bumper harvest it quoted experts of the ministry of electric power as saying
lukman asked about industry reports that nigeria was being pressured by equity producers for better terms said it was important to know that terms with them were negotiable flexible and under constant review not only when the market seemed weak
ibp oxy plant reopens without incident
any such restriction of reserves will not be a highly visible form of monetary tightening karnosky said
caesars world currently carries bb senior debt and b plus subordinated debt
we say that agriculture is urgent but its not the only urgent thing he said
two japanese steelmakers to cut capital spending
the commerce department had already ruled that the imports were unfairly priced and lowered to 196 pct the anti dumping margin that in a preliminary decision last fall had been set at 85 pct vastagh said
one effect of this heat exchange is to deflect the rain bearing clouds away from australia and indonesia into the pacific where they further disrupt other weather patterns
the ministry of international trade and industry miti has asked about 30 japanese trading houses and exporters to refrain from excessive dollar selling trading house officials said
he said thailand will pay for 25 pct of the cost of the cranes in us dlrs and the rest by sales of rice textiles and other commodities to yugoslavia
brazil suggests 60 day short term credit extension
plc dlarl proposes to offer ordinary shareholders the opportunity to receive their dividends in the form of new shares as an alternative to cash
zinc production increased to 26732 short tons in february from 25786 short tons in january
he estimated this cost at about 200 mln dlrs a year
it said it now intends to work with its health care providers in alabama to further develop the hmo
us undersecretary of state for economic affairs allen wallis said he had urged japan to do much more to reduce its large trade surplus with the united states
the idea was to suggest that opecs agreement would not hold and this caused some customers to hold back purchases of opec oil and resort to destocking to meet their needs lukman said
susan hackmann of agrianalysis said there was some confusion over whether trade ideas of an enrollment figure between 15 and 18 mln acres referred to the total sign up or the latest addition
banking sources said zambia was persuaded by the world bank and imf to lift its proposed ceiling of 1250 kwacha per dollar on the currencys devaluation once the auctions restart
prime lending rate is now 875 pct and deposit rates vary between 325 and 575 pct
the cheung kong companies move followed fridays announcement by jardine matheson of a four for one bonus issue of similar b shares with a reduced par value and equal voting rights
the company said conteol under the agreement would assume a portion of equatorials rights and obligations under the galaxy iii transponder lease with burnham leasing on the occurrence of certain events
s p sees stable credit quality in first quarter
burlington bur hearing to continue tomorrow
but the new move would permit us exchanges to apply to the cftc for approval of establishing futures contracts on those securities sec officials said
administration officials who asked not to be named have also debated whether to allow banks greater flexibility in building up loan loss reserves against third world loans
the debt has a quarterly payment schedule
rainbow says brierley upsetting progressive merger
a council meeting of the international natural rubber organization inro has been adjourned until thursday as tomorrow is a malaysian national holiday officials of the organisation said
at the same time ibm said its communications products division will continue to direct the worldwide development and us manufacture of ibms non rolm telecommunications products
the spokesman speaking from strike headquarters in rio de janeiro estimated that 80 ships were strike bound
marx is in new york with argentinas debt negotiating team holding talks with the creditor banks steering committee
soybean futures posted strong gains on the chicago board of trade while corn and wheat were mostly higher
until now foreign investor interest in the gilt market has been one of the major reasons behind the rise in sterling
we the developing countries are going to insist on the application of contingency clauses to extend deadlines for the payment of capital as well as interest he said
executive vice president orville sweet said the decision to spilt the show and congress came about because there are producers who never get to see the trade show floor
the company said it was taking the actions to restore sheet transaction prices to more equitable levels
but hargreaves said jardine mathesons earnings from its 35 pct stake in hong kong land co ltd hkldhkg will fall to about 230 mln dlrs from 281 mln dlrs in 1985
also does not include 4th qtr 1985 extraordinary loss of 1028000 dlrs or ten cts per shr
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
china international trust and investment corporation citic would have 75 pct of the equity in bohai aluminium industries ltd the company to build the rolling mill and extrusion plant on the northeast china coast they said
new applications for unemployment insurance benefits fell to a seasonally adjusted 332900 in the week ended feb 21 from 368400 in the prior week the labor department said
the us agriculture department said turkey has been made eligible for the sale of up to 70000 tonnes of medium grain milled rice under the departments export enhancement program eep
according to officical pay lists available in the unions office the basic pay for ordinary seamen is 1977 cruzados a month while various allowances can bring their total pay up to 4000 cruzados a month
the official 1987 88 estimate is 29 pct
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 among domestic steel producers
the unilever plc and nv una group saw improved performance in almost all sectors during 1986 the anglo dutch group said in its results statement
net loss car making 414 billion francs vs loss 1099 billion
it said it has no plans to seek control of the company
in the 1986 tax season block prepared 9215300 us tax returns up 15 pct over the previous year
the idea is to create a pool of funds in the firm with participating creditor banks holding the firms stock
it said products of the subsidiary based in monterey park calif are sold under the arrowhead brand name in california and arizona the ozarka name in texas and the great bear name in 11 northeastern states
usx x chairman calls for lower dollar
iraq reports raids irans nowruz oil field
calgary based domes restructuring plan would allow creditors to convert debt to common shares under a formula yet to be negotiated
many portfolio managers are working with relatively high cash positions in equity accounts often 25 to 30 pct given the belief that there may well be downward price corrections enroute to higher ground
pennzoil also said it had budgeted 212 mln dlrs for capital spending in 1987 a drop from the 233 mln dlrs spent last year
canadian imperial oil 70 pct exxon owned said it raised its posting for light sweet crude oil at edmonton by 32 canadian cts a barrel effective today
net includes charges 157 mln dlrs in both periods of latest year vs charges 239 mln dlrs in both periods of earlier year from merger of divisions
unit loss one ct net loss 186000 revs 107 mln 11 mths unit loss 726 dlrs net loss 1214 mln revs 469 mln note partnership formed in february 1986
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
more intermediate us wheat credits for morocco
if it does then this gives them more room to ease he said
brazilian troops to leave oil refineries
hoechst will announce its dividend proposal on april 23
the government has already made the political decision to entertain this time problem by inviting the existing producers to continue their activities in indonesia albeit on a selective basis indonesia one of the 13 members of opec must find new oil reserves if it is to remain an exporter in the next decade oil industry sources say
denominations will be in one mln guilders
hutton lbo extends expiration for 35 dlr shr offer for purolator to april 6 from today
indonesia oil contract negotiations end this month
the issue will be sold in denominations of 1000 and 10000 marks and listed in frankfurt
exxon corp said in its annual report that it raised production in 1986 although it did not replace all oil and gas produced
exceptional debit on rationalisation programme 12 mln vs nil petroleum revenue taxes 77 mln vs 319 mln uk corporation tax and overseas tax 24 mln vs 187 mln note the net effect of accounting changes in 1986 was to reduce after tax profits by 47 mln stg
mannesmann ag mmwgf the diversified engineering and pipe making group is interested in taking a stake in a us company or companies but has not yet found a suitable firm a spokesman said in reply to questions
the annual turnover rate at the facility is 100 pct he said
also echlin said it had second quarter net income of 118 mln dlrs or 24 cts per share compared with net income of 83 mln dlrs or 20 cts a share in fiscal 1986s second quarter
the us department of transportation said it gave final approval to usair groups proposed 400 mln dlr acquisition of pacific southwest airlines
the saudis had demanded that brazil get credit guarantees from leading international banks
henley heng has santa fe southern sfx stake
the bank of england said it provided the money market with help of 97 mln stg in the morning session
a spokesman for ltv steel co a unit of ltv corp declined comment adding that the company does not make heavy plate and makes few other plate products
but the placement of shares in the print communications technology group linotype gmbh to be bought from allied signal inc aldn would likely come later since several parts of the business had to be consolidated first
ministers from the ecs major steel producing countries are likely to shy away from narjes proposals and could back the industrys own plan instead in the hope of minimising the political impact of plant closures they said
it said central banks in industrialized countries including the bundesbank had followed the federal reserve boards expansionary course
it was commenting on figures for 1986 which showed pretax profits rising to 546 mln from 465 mln previously
i do not regard the dollar as undervalued at this point against the yen he said
orley shipping is partially owned by common brothers plc a uk maritime firm which owns 60 pct of bermuda stars shares and arranged debt financing for the ships purchase
it is under separate administration from the tanzania zambia railway linking dar es salaam with the zambian copperbelt and the railway system of southern africa which has already received substantial aid as part of international efforts to ease the dependence of landlocked african states on trade routes through south africa
marietta environmental had 1986 revenues of about nine mln dlrs
it is too difficult to forecast now
investment advisors have 10 pct of killearn kpi 
mony funding inc is issuing a 125 mln dlr eurobond due april 7 1997 paying 8 1 8 pct and priced at 101 1 2 pct sole lead manager citicorp investment bank ltd said
habbel said the new audi 80 had sold extremely well in the first two months of 1987 helping audi to increase its overall market share in west germany to 84 pct from 52 pct in the same months of 1986
tata steel a trend setter on the bombay stock exchange opened today higher at 1040 rupees against yesterdays closing of 101250 rupees
kampuchea harvested more than two mln tonnes of rice paddy in 1986 up on the crops of the previous two years the official spk news agency said yesterday
another senior morgan grenfell executive geoffrey collier resigned late last year on allegations of trading on insider information
the securities exchange of thailand set index on monday recorded its biggest daily advance in recent years shooting up 457 points to a new seven year high of 22302
he urged american manufacturers to become more competitive so they can compete in global markets
denning mobile robotics inc gard 4th qtr loss
the extension resulted from a last ditch effort by colombia to salvage the talks which by late yesterday looked perilously close to ending without agreement on quotas delegates said
the sources said it was too early to give details of the planned split or of the share price but cited april 27 as a likely date for the flotation launch
the issue is whether the 14 bank steering committee will endorse brazils request to the 700 creditor banks worldwide or simply relay it without comment
dealings in cambrians securities have been suspended since late 1986 following the disclosure of insider trading activities by former chairman ivan boesky
mikulics proposed economic program which also includes higher personal taxes as well as wage and price restraint is intended to serve as a basis for the debt talks to demonstrate yugoslavias ability to eventually repay the credits
the planes dealt accurate and effective blows to the targets and returned safely to base
in addition to a tire manufacturing plant condere bought s
it transports hazardous waste sand and gravel
that offer was to have expired today
under the new system producers and refiners will be allowed to negotiate volumes of shut in oil to be delivered under purchase contracts
nazer was quoted by the spa as saying saudi arabias adherence to the accord was shown clearly in the oil market
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 erdim is expected to absorb the european corn wet milling business of cpc international inc cpcn which ferruzzi recently agreed to buy
it is too early to talk about a charge because the plan must still be approved by the lenders and unions he said
the value of colombian exports other than coffee rose 55 pct in january compared with the same period last year apparently setting a trend for the trade balance in 1987 government statistics institute figures show
non callable for two years the debt is rated b 3 by moodys investors service inc
the finished goods index was up 01 pct from its february 1986 level
the paper quoted bangemann as saying that continued subsidies would endanger other parts of the german economy by making them uncompetitive
noble affiliates nbl finds natural gas
the workers at anglos vaal colliery south of johannesburg had struck to protest the alleged refusal of officials of the south african homeland of transkei to allow miners to attend a funeral in the homeland a union spokesman said
oper shr loss 13 cts vs profit three cts oper net loss 644000 vs profit 184000 revs 249 mln vs 221 mln year oper shr loss nine cts vs profit 21 cts oper net loss 429000 vs profit 1123000 revs 908 mln vs 865 mln note revenues exclude medical publishing and retail operations the company decided to dispose of during the fourth quarter which had fiscal year revenues of 173 mln dlrs vs 144 mln dlrs
century said community cable is located in san juan puerto rico
echlin ech buys stake in champion parts creb 
the real issue is the rescheduling of debt terms
fed sets two billion dlr customer repurchase fed says
i think that the objective of greater exchange rate stability ought to loom larger among our various policy priorities
southmark sm acquires berg ventures
brennan said he expects banco royal profit to increase this year from the three mln us dlrs reported for fiscal 1986 ended september 30 but said he could not predict by how much because of the countrys uncertain financial climate
the index fell 91 pct from a year earlier for the 21st straight year on year drop the central bank said
shr four cts vs 10 cts shr diluted two cts vs 10 cts net 1841000 vs 978000 revs 361 mln vs 205 mln avg shrs 25734000 vs 9200000 avg shrs diluted 48878000 vs 9200000
the department said since the adjusted world price is above the loan repayment rate of 44 cts per lb for the base quality no first handler cotton certificates will be issued during the period
the services trade surpluses increased to 524 billion francs from 389 billion while the deficit on transfers rose slightly to 436 billion from 418 billion
fed expected to supply temporary reserves
charter co qchr 4th qtr oper loss
hoechst which acquired celanese corp on feb 27 said it plans to offer 200 mln dlrs of notes due 1997 and 300 mln dlrs of debentures due 2017 to repay part of the debt incurred in the takeover
miniscribe corp said it filed with the securities and exchange commission a registration statement covering a 65 mln dlr issue of convertible subordinated debentures due 2012
world market price for upland cotton usda
in effect international firms would be paying part of manilas interest bill allowing the government to conserve much needed hard currency
cross owner of about six pct of the companys stock who offered 34 dlrs a share and harcourt brace jovanovich inc hbj which offered 50 dlrs a share
bank of france buys dollars sells yen dealers
it closed the three month review period down more than 11 pct against the mark and most other continental currencies and seven pct lower against the yen and sterling
several dealers said the central bank intervened this afternoon when the dollar stood around 149 yen
golden rule resources ltd and goldsil resources ltd said they had agreed to merge
soyabeans were the main component with imports rising to 282 mln tonnes actual weight from 275 mln
a hormel hrl votes two for one split
rapeseed planting of an estimated 324 mln is expected five pct up on 1986
union corp said it agreed in principle to sell its union flonetics corp subsidiary to irvin kaplan a houston investor
the relatively small quantity remaining in the authorities hands was quickly sold out on a small upturn in demand early today
exports fell to around 189 billion baht from 204 billion in january compared with 174 billion a year ago the bank said
cook united inc in talks to sell stake to private investors
chrysler says it sold 405 mln dlrs of corporate bonds to investment bankers
the company said in spite of the sec decision it still feels its allowance for possible loan losses at june 30 1986 was adequate and that it has considered all relevant information to determine the collectibility of the five mln dlr receivable
he added that the document seemed entirely credible
the split shares will be distributed on june 29 to shareholders of record may 13
because the fiscal deficit has been reduced to some four pct of gross domestic product money supply could be increased to pay for the drug eradication drive without too much of n impact on inflation he added
sumitomo launches 200 mln swiss franc convertible
brazil still seems willing to talk to the fund under the annual discussions that all imf members undertake conable said adding that this could partially solve the current stalemate
mts said sosnoff has asked the company to fix march 27 as the record date for the determination of shareholders entitled to authorize action without a meeting including the election or removal of directors
however there is the threat that the iranians seeing these heavily protected us flag tankers will go for softer targets one diplomat said
he said the governors who agreed in january on a proposed denominator on which the six currencies should be based were asked to resubmit the recommendation before july when finance ministers were due to meet in saudi arabia
other unadjusted counterparts to sterling m3 expanded by 300 mln stg in february after an expansion of 13 billion stg in january the bank said
the february us producer price index gained only 01 pct less than a 03 04 pct expected rise
monolithic memories inc mmico 3rd qtr net
the refinery has an optimum annual production capacity of 100000 tonnes but its highest production was 96000 tonnes of refined zinc ingots in 1985 the spokesman said
government officials in malaysia a major cocoa producer have declined to say whether it will join the international cocoa agreement icca for which buffer stock rules were agreed in london last week
api said refinery runs in the week rose to 1254 mln barrels per day from 1221 mln and refinery use of operating capacity was 804 pct up from 783 pct
the lead manager noted that the issue already has been pre placed in europe and the far east
a group of firms led by hong kong based industrial equity pacific ltd said it acquired 969515 shares of triton oil corp common stock or 54 pct of the companys common stock outstanding
the earthquake last thursday night registered six on the 12 point international mercalli scale
us bank discount window borrowings less extended credits averaged 310 mln dlrs in the week to wednesday february 25 the federal reserve said
in 1986 ecuadors total service on the foreign debt was about 996 mln dlrs to all creditors
the ccc issues dollar denominated pik certificates or certs as a partial substitute for direct cash outlays to farmers or cash subsidies to exporters
the partnership said however that it will pay a regular quarterly distribution of 60 cts a unit on april 15 to holders of record march 31
the us agriculture department announced the following prevailing world market prices of rice on a loan rate basis with previous prices long grain whole kernels 587 cts per lb vs 570 medium grain whole kernels 528 cts per lb vs 512 short grain whole kernels 522 cts per lb vs 506 broken kernels 294 cts per lb vs 285 the repayment rate for 1986 crop warehouse or farm stored rice loans are the higher of the world price or 50 pct of the loan rate of 720 dlrs per cwt
no conclusions were contained in the minutes
the partners would look into the feasibility of a plant producing 500000 tonnes per annum of mtbe an octane enhancer that can replace tetra ethyl lead
exxon said that its net share of crude oil and natural gas liquids produced from offshore fields in the north sea reached a new high of 422000 bpd
the heavy volume also meant most borrowers except the very best addresses were having to accept higher coupons
combined with overall good prospects for the uk economy this was likely to fuel a foreign rush on sterling denominated assets pushing the pounds value well above unofficial targets
mobils debt reduction program has also been abetted by several steps taken by the company to restructure its operations
the length of the extension which is aimed at giving shareholders an adequate chance to assess revisions of a tender offer was not specified in cases where the minimum share conditions were waived
main destinations for refrigerated beef bone in equivalent were as follows in tonnes with comparative figures for 1985 in brackets ec 46300 49700 israel 16200 17600 brazil 18100 unavailable peru 8100 2300 angola 4800 12100 chile 3400 8200 switzerland 3000 3000 canary islands 2400 3700 singapore 1900 1700 aruba curazao 1600 1700 main destinations for canned meat and cooked beef bone in equivalent in tonnes with figures for 1985 in brackets were united states 88300 102900 ec 30700 24100
fob exports in the first 10 days of march rose 58 pct from a year earlier to 550 billion dlrs and cif imports rose 97 pct to 361 billion
us bankers fear that they would not be able to account for the notes in the same way as accruing cash interest payments and that their profits would suffer accordingly
quaker oats co said it filed a shelf registration with the securities and exchange commission covering up to 250 mln dlrs in debt securities
square d corp sqd 1st qtr net
he did not say when the measure would become effective
1985
bat industries plc btil 1986 year
triangle microwave makes microwave components
lower prices are sure to trickle down to the supermarket shelf this spring coffee dealers said
welbilt corp said it completed the previously announced acquisitions of the assets of l and m manufacturing co and food machinery engineering co two manufacturers of automated bakery production equipment headquartered in toronto
sportscene acquires christophe van houtte chain
but that would still be an exceptional achievement considering that for the first time since the second world war all french prices have been freed he commented
just a year or so ago he said trades of that size going through brokers screens in london were unthinkable
as previously announced general cinema will own 60 pct of the equity and 40 pct of the voting shares in the new company
ec opens anti dumping enquiry into soviet mercury
the state capital markets board has also limited the yield with 4664 pct which is slightly higher than that of the 90 day government paper erk said
intercon security employing 850 people provides a full range of security equipment and services jannock said
consequently it has funds available for distribution with dividend imputed but is waiting to see the imputation legislation before determining the final payout it said
durham said copper supplies are lower than they have been for almost 20 years and demand continued to be strong
ccc accepts bid for dairy cattle to kuwait
according to one kuala lumpur trader world prices would have to fall another 1000 ringgit per tonne about 250 stg to make cocoa production in malaysia uneconomic
taiwan announced it would ease curbs on some 600 farming and industrial products last month
he said mellon which was ordered in december to quit brazil because of its refusal to renew some short term credit lines expects to participate in efforts to helpt brazil and other sovereign borrowers to reschedule their debts
because of these acquisitions it said first quarter sales will be substantially higher than last years 671 mln dlrs
tseng posted first quarter 1986 sales of 549950 and net income of 19163 the company said
a successful new gatt general agreement on tariffs and trade round is needed to halt growing bilateral trade problems between major trading partners us trade representative clayton yeutter said
malaysia raises duty on processed palm oil
in the same period borrowings from the private sector by the nbfis rose to 70389 mln dlrs from decembers 70237 mln and the previous januarys 64299 mln
one rocket was fired but missed
philippines social security to buy san miguel shrs
he said the alaskan oil trade continues to be the principal source of employment for its us flag tanker fleet which represents approximately 15 pct of the companys tonnage
who benefits from that
the distilled spirits business has been in a steady gradual decline for sometime as has the tobacco business said thompson
mine safety mnes sells south africa unit
the student loan marketing association sallie mae announced an offering of 100 mln dlrs of three year fixed rate notes redeemable at maturity in the us dollar equivalent of 1452 mln australian dlrs
both he and tinker said this factor should help keep input costs down over the next few months although tinker added that last years fall in oil prices is now about to drop out of the year on year comparisons and is likely to lead to a return to rises in the index rather than falls
it suggested options for the administration to consider but made no specific recommendations
shr loss 28 cts vs profit three cts net loss 189 mln vs profit 21 mln assets 167 billion vs 198 billion deposits 141 billion vs 162 billion loans 122 billion vs 144 billion note net includes securities gains of 204 mln vs 131 mln
since we have not seen signs of change in other positions its difficult to see a positive outcome at this stage brazilian delegate lindenberg sette said
mikulic said yugoslavia had understanding for what brazil had done
uk money market given further 663 mln stg help
the fomc issued an asymmetric inter meeting policy directive which gave greater possibility to firmer rather than easier policy
if we are going into an auction system we need to have some form of market test of the stock were bidding for said simon hartnell head trader at primary dealer alexanders laing and cruickshank gilts ltd
in answer to a reporters question holden brown said it would be possible for gulf canada to sell off part of its 49 pct in a public offering with allied lyons consent
the government are not considering terminating the bp offer
he will retain his duties as chief operating officer
dreyers said the restatement reduces net income for the full year to 5914000 dlrs or 80 cts per share
also helping to bring supply and demand into balance has been the gradual market absorption of the extra chemical manufacturing capacity created by middle eastern oil producers in the early 1980s
but the source close to the philippines said ongpins anger goes beyond the dollars
this move heralded by some sources as a measure that gives all parties more time frightened others who see it as the beginning of a tit for tat exercise that could lead to complete unraveling of the monetary system
sterling dipped to end at 2952 956 marks after 2960 965 last night
while you may be able to maintain your current market share in the us you clearly will not be able to look to the us to take major increases in your exports he added
hermann pohl general director in charge of economic affairs said the 27 pct decline in group turnover to 524 billion francs was due to currency factors
the bonus awards were made to cargill inc 305000 tonnes continental grain co 155000 tonnes mitsubishi international corp 60000 tonnes and richco grain co 30000 tonnes bonuses will be paid to the exporters in the form of commodities from ccc stocks
another area where glickman and other have said budget savings might be made is to increase acreage reduction program arp levels for wheat and corn
after a rise of 18 pct in 1986 the dollar price of internationally traded manufactures will go up by 85 pct in 1987 and by five pct in 1988 it said
problems in the farmbelt and oilpatch regions contributed to the first decline in overall income for us banks in a quarter century the federal deposit insurance corp fdic said
it previously announced a plan to sell its stakes in both hong kong land and dairy farm to newly created jardine strategic holdings ltd in which it has a 41 pct interest
the february index was down one pct from a year earlier for the third consecutive year on year drop
extraordinary earnings 7747 mln vs 4628 mln
shr loss 22 cts vs profit one ct net loss 4700000 vs profit 150000 sales 150 mln vs 167 mln avg shrs 21538000 vs 19259000 note prior qtr figures include gain of 11 mln dlrs or six cts per share from discontinued operations
about seven billion dlrs of securities is affected
the decree said the government adopted the move to obtain financing for high priority investment projects which it did not specify
drought threat eases in south china province
union valley corp uvc 4th qtr net
news that underlying earnings are rising 775 pct annually taken together with higher than expected bank lending and money supply growth revived inflation worries and monetarist arguments against easier credit they said
redemption price is 26 dlrs per share the company said
last december bankamerica and wells fargo announced a definitive agreement on the sale at a price of about 100 mln dlrs subject to adjustment
they said they will tell the us international trade commission itc thursday that termination will have disastrous consequences for american companies and workers the current four year voluntary program reached with foreign exporters ends this summer and the itc must advise president reagan on the economic effect of its termination
shr profit four cts vs loss 56 cts net profit 2043000 vs loss 257 mln revs 1113 mln vs 647 mln avg shrs 483 mln vs 458 mln nine mths shr loss 18 cts vs loss 63 cts net loss 8695000 vs loss 284 mln revs 3084 mln vs 2284 mln avg shrs 480 mln vs 448 mln note 1986 net includes tax credits of 1646000 dlrs in quarter and 3401000 dlrs in nine mths
stoltenberg said the louvre agreement was working despite a slight firming of the yen against the dollar
another 422000 tonnes was retained on farm and 620000 sold under the permit system introduced in 1984 85 to allow farmers to sell feed wheat to the grain trade outside the awbs receival system according to bureau of agricultural economics data
supermarkets general is expected to report about 170 dlrs a share compared to a 173 dlrs a share reported for 1985 on a post stock split basis
it is being built at citroens large plant at aulnay sous bois in northern paris as well as at rennes in brittany and vigo in spain with production just reaching target level of 1000 cars a day
iraq which said it would not honour its 1466 mln bpd quota under the december pact had produced less than had been anticipated he said
turkish retail prices rise 27 pct in february
first mississippi corp frm sets payout
he said 700000 shares were purchased in the first quarter of 1987 at an average price of 81 dlrs per share
us bank net free reserves 603 mln dlrs in two weeks to march 25 fed says
31 1986
the group said it has no plans to seek control of atlantic research which has been sought by clabir corp clg but said it may buy more stock or sell some or all of what it has
the deficit compared with a shortfall of 73 billion riyals in the last published budget for 1985 86
higher limits for cbt wheat than for kcbt wheat would significantly impair the kcbts ability to compete with the cbt for speculative interest michael braude president of the kansas exchange said in a letter to cftc
diamond shamrock corp said that effective today it had cut its contract prices for crude oil by 150 dlrs a barrel
he didnt say how much stock he had
cnt also said sand technology systems inc of canada bought two of its channelink networking units for a data processing service for major health care facilities in canada
amr amr citicorp cci to set marketing pact
one month interbank riyal deposits were quoted today at 6 1 4 six pct
angell care master lp acr raises quarterly
the following proposed securities offerings were filed recently with the securities and exchange commission columbus and southern ohio electric co subsidiary of american electric power co inc aep offering of 100 mln dlrs of first mortgage bonds due 2017
the 43 km link with a maximum capacity of 50000 bpd will run from lago agrio the centre of of ecuadors jungle oilfields to an existing colombian pipeline that runs to the pacific port of tumaco
prices have since steadied to around 18 dlrs a barrel
these figures reflect two three for two stock splits in march and august 1986
brown and co incs rcbi magic insurance group unit
the borrowing programme for 1987 is well within the capacity of the domestic financial markets without pressure being placed on interest rates the corporation said
latest federal reserve data suggest that the us banking system is flush with reserves going into a period of traditional tightness and that overall monetary policy is on hold economists said
tasmanian public finance has australian dlr bond
treasurys baker under fire for wall street drop
northview novco plans to sell company
he said the nominal trade surplus for 1987 as a whole is likely to fall only slightly from the record 1122 billion marks in 1986 but other economists said the surplus could fall to around 80 billion marks
morgan grenfells bell forecast a half point base rate cut from the current nine pct level soon after the election so long as poll projections of another conservative victory prove accurate with another half point later
dauster rejected reports which said brazils inflexibility had been the cause for the breakdown of talks noting that its stance had the backing of 85 pct of producing countries
douglas computer international year end 1986
shr 64 cts vs 51 cts net 4373000 vs 3346000 sales 598 mln vs 455 mln avg shrs 6808000 vs 6600000 nine mths shr 157 dlrs vs 118 dlrs net 107 mln vs 7745000 sales 1670 mln vs 1231 mln
sri lanka and the international monetary fund imf have reached agreement on the broad outline of economic reforms but tough negotiations are likely before the imf approves up to 240 mln dlrs in loans a senior finance ministry official told 
vernitron corp vrn 4th qtr and year loss
j bildner and sons inc jbilo 1st qtr
in 1987 private consumption was expected to slow somewhat to a 225 pct growth rate but should still outstrip overall gdp it added
the us did not join the international cocoa agreement because it considered its proposed price ranges unrealistic and not designed to protect the interests of consuming countries the state department said
the us house foreign affairs committee voted to ease restrictions on exports that are now kept from shipment to soviet bloc countries but are no longer a threat to us national security
theyre scrambling to replace them said one trader
keefe bruyette goldman sachs and merrill lynch co managed the deal
the central bankers who spoke on the condition they not be named said the meeting of governors from the group of 10 countries also heard a report from michel camdessus the new managing director of the international monetary fund on the imfs latest assessment of the debt crisis
results include after tax gains of 567000 for both 1986 periods vs loss of 45000 for prior periods on disposal of discontinued operations
asias four main nics hong kong south korea singapore and taiwan accounted for almost one fifth of the overall 170 billion dlr us merchandise trade deficit for 1986
as a result oil industry sources suggest that the situation may ease by mid april
west german bank issues luxembourg franc bond
in the normal course of events the markets would have been extremely worried about that figure noted peter spencer uk economist with credit suisse first boston
the source who declined to be identified said iran had fired the chinese made missile at a hulk off its southern gulf naval port of bandar abbas and scored a hit
buckhorn inc bkn sees higher profits in 1987
oklahoma cleaning up after week of floods rains
international minerals and chemical corp said it completed its acquisition of johnson and johnson cos pitman moore unit a producer of animal health products
prime minister margaret thatcher gave 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
bank building said the joint offer is for 780300 shares of bank building stock at 14 dlrs a share
he told reporters on saturday it would be unwise to try to pin the banks down on monsods proposed growth facility
yet at the same time africas debt service was estimated at 245 billion dlrs a year between 1986 and 1990
it said foods operating profit excluding unusual items rose 10 pct with international operations and domestic breads and baking products major contributors to improvement in the quarter
he said australian businessman and brewer alan bond and the brewing company elders ixl ltd elxas were interested in buying 40 pct each of smc stock
early this month dart made an unsolicited offer of 4175 dlrs a share in cash for supermarkets generals stock
the united states has offered navy warships to escort kuwaiti oil tankers into and out of the gulf where they could be threatened by new iranian anti ship missiles us defense officials said today
the company said it repurchased 2100000 shares under an april authorization to buy back up to three mln shares and authorization for further repurchases under the old program has been withdrawn
the stauffer sale prospectus has been sent in recent weeks to a number of companies expressing interest
however bad weather continued hampering cotton seedbed preparations in oklahoma
squibb sqb said not interested in buying cetus
seasons for oats barley began june 1 corn and sorghum sept 1
brown inc said it has declared a three for two stock split payable may 29 record may 22
it completed the first phase of its 1987 super pad ahead of schedule as well allowing the mining company to load up to 75 mln tons of new ore on the pad
intercontinental had year end assets of about 487 mln dlrs
japanese securities houses are thinking of allowing foreign brokerages to underwrite more japanese government bonds from april securities managers said
an aide said stangeland does not want to reopen the farm bill but to be fair to all crops
they said the biggest was bci holdings 235 billion dlr offering on april 10 1986
chevron said a sidetrack well on block 16 26 on the uk continental shelf tested 9000 barrels per day bpd of 20 api crude oil from the tertiary alba sand through a three inch surface choke
later today de zeeuw will meet the senate agriculture members and undersecretary of state affairs allen wallis
for the year ended january 25 1986 general reported net income of 297 mln dlrs
non communist daily average unwrought aluminium production in february was 33900 tonnes up 400 tonnes from a downwardly revised 33500 tonnes in january and compared with 32900 tonnes in february 1986 provisional figures from the international primary aluminium institute ipai show
they said a large uk trade house sold 50000 tonnes a us house traded 25000 tonnes and a swiss based dealer house 25000 tonnes
the paperboard and packaging producer said the debt consists of the entire outstanding principal amount of its 6 3 4 pct convertible subordinated debentures due april 15 2011 and all of its outstanding series c cumulative convertible exchangeable preferred shares both issued in the principal amount of 100 mln dlrs each
periods ended jan 31 shr 28 cts vs 35 cts net 2374000 vs 2987000 sales 352 mln vs 34 mln backlog 368 mln vs 339 mln
the actual increase reflected teacher pay settlements and industrial action in the transport and communications sectors in january 1987
japanese officials sought to convince the us that a us japan pact on microchip trade is working ahead of an april 1 deadline set by the us for them to prove their case
group of five meeting ends
coke affiliate to sell delaurentiis deg stake
this sets the stage for more sluggish growth in the second and third quarters the fed will view this as a caution flag on the economy he said
ceco said it financed the purchase through an increase in its existing credit line
us bank income shows first drop in 25 years
the company said the stock dividend will be paid only to holders of commons tock who do not exchange for class b stock in vishays current exchange offer which expires march 25
oats were unchanged at 168 per tonne at buenos aires
based on the previous provisional figures issued for february wheat exports were increased by 480200 tonnes and barley by 283800 tonnes
opec may have to meet to firm prices analysts
we can ban firms from certain countries from carrying out certain kinds of business while allowing them to carry out other kinds i hope we dont have to use these powers but i made it clear in japan that if our timetable isnt met we shall use them he said it would be unfortunate if britain and japan became involved in a tit for tat exchange adding that japan gained more than anyone else from an open trading relationship
in canada the weekly rig count rose 19 to 100 compared to 46 working rigs last year
the major destinations in february were china 419196 tonnes egypt 301909 iraq 142055 japan 110261 south korea 100847 and the soviet union 100056 tonnes
the payment date is may 6
us treasury deputy asst secretary berger says further dollar drop could cause inflation
british prime minister margaret thatcher denied in an interview published in saudi arabia today that her governments oil policy contributed to weakness in world oil prices
after china other important state trading countries including the soviet union will probably demand accession
pemex said this was 32 cts less than january isthmus and 15 cts less than january maya
although prices have risen to around eight from five us cents per lb in the past six months they are still below the regions nine to ten cents per lb average production cost
iida said the ideal ratio is power plants 30 pct aircraft and special vehicles 25 pct and shipbuilding 15 pct
4th qtr ended jan 31
year to december 28 1986 shr 201p vs 176p div 50p vs 46p making 92p vs 85p turnover 2421 mln stg vs 2115 mln pretax profit 248 mln vs 187 mln tax 67 mln vs 58 mln operating profit 283 mln vs 213 mln investment income 10 mln vs 07 mln net finance charges 45 mln vs 33 mln company full name is morgan crucible co plc mgcrl minorities and provisions for preference dividends 07 mln vs 12 mln extraordinary debit 09 mln vs 13 mln credit operating profit includes carbon 83 mln vs 70 mln technical ceramics 70 mln vs 56 mln thermal ceramics 76 mln vs 46 mln speciality chemicals 44 mln vs 40 mln electronics 10 mln vs 01 mln m
coopervision inc said it has delayed its annual meeting to june 22 from may 14 to allow its board to review possible recapitalization options before the meeting
it is also doubtful whether the tertiary sector can fully employ those put out of work in the manufacturing sector he said
yugoslavia will tender april 14 for 100000 tonnes of wheat the us agriculture departments counselor in belgrade said in a field report
unit wage costs in uk manufacturing industry rose one pct in the year to april after an upward revised rise of 07 pct in the period to march the department of employment added
eib loans to italy for industry and transport
this gives them plenty of borrowing power he said which could be used against an unwanted suitor
philadelphia suburban psc buys software firm
shr 59 cts vs 48 cts net 3244000 vs 2584000 revs 1693 mln vs 1560 mln 12 mths shr 178 dlrs vs 132 dlrs net 9733000 vs 7164000 revs 5856 mln vs 5410
dynamics said cts chairman george f
semi annual dividend 4 cts pay may 29 record april 14 note full name is us facilities corp
the proposal also would require acreage reductions of 20 pct eliminate generic certificates and prohibit persons not actively engaged in farming from receiving program benefits
all the other countries have said their relationship with us cannot be affected by the abandonment of a system that only lived for 18 months when they have been supporting us for over 20 years now he said
the bank said the us economy has shown no noticeable long term improvement and that both latin american debt and the iranian arms affair could undermine confidence in the dollar
globe produces silicon metals and magnesium ferrosilicon
mim holdings ltd mimas said it has issued 2333 mln shares to preussag ag prsgf to complete the previously announced purchase of 20 pct of norddeutsche affinerie ag from preussag
kanasa city southern said it will make an offer for southern after its books records and properties are examined
argentine 1986 87 grain oilseed registrations
but by then sterling should be firm enough to satisfy even the bank of england he added
in the past year tough trade action had been taken against the european community over corn and sorghum taiwan over beer and wine south korea over counterfeiting of copyrights patents and trademarkets and japan on tobacco
france fund inc said its board declared an initial dividend of 112 dlrs per share payable april six to holders of record march 20
on existing loans at that date the measures would apply to interest arising from april 1 1988
she added that even though placements came in above the average trade guess many traders had expected high placements
the companys specialties and services segment cut its losses in the quarter to 13 mln dlrs from 40 mln dlrs and in the year to three mln dlrs from 181 mln dlrs
allieds first disclosure of the debartolo takeover was made on oct 8 even though its board approved the merger on oct 3 and the merger agreement was executed on oct 7 the complaint said
poehl noted west germany had already taken steps to meet us demands for greater stimulation of its domestic economy accelerating tax cuts cutting interest rates and tolerating above target money supply growth
the report added that in fields which pay prt there will be a cost in being able to have this early relief
natural gas prices rose 18 pct after a 42 pct rise in january
the company said the loss is part of its previously announced restructuring that includes the sale of its foreign and domestic units
a spokesman for the national coffee growers federation commenting on rumours which had circulated in market circles said these were false
company redeemed its outstanding preference stock 235 dlrs convertible series on sept 14 1987
thai coffee exports rose to 22068 tonnes in 1986 from 20430 a year earlier the customs department said
the complaints were filed by robert moss and other parties who are believed to own about 230000 shares of alleghenys preferred stock
the china daily attributed the decline to several factors including less favorable weather conditions and new state measures to restrict cotton production after the 1984 build up of stocks
in due course the industry should benefit by over 100 mln stg a year it calculated
eyskens has repeatedly stressed that he believes the ems has to be reinforced if the ecs plans to liberalise all movements of capital across national borders by 1992 are to go ahead
the company also said its board voted to recommend to shareholders at the annual meeting april 23 an increase in the authorized capital stock from five mln to 25 mln shares
they said the facility which will be syndicated among a small group of the borrowers relationship banks is being put in place ahead of the privatisation of rolls royce in april or may
hunt group has comdata stake seeks influence
he also expects the company to raise its annual dividend about 20 to 30 cts a share from its current dividend of 320 dlrs a share and a stock split is possible but it has a low probablility
livestock analysts expect renewed bull spreading in live cattle futures following yesterdays usda 7 state cattle on feed report
analysts said borg warners chemical business would add earnings momentum to gaf
scott and stringfellow scoto 3rd qtr mar 31
period ended february 28
the schwab announcement said bankamerica received 175 mln dlrs in cash 50 mln of 10 pct senior subordinated debentures 55 mln dlrs of nine pct junior subordinated debentures and the right to receive 15 pct of the appreciated value of the common equity of the new company over a maximum period of eight years
sogenal founded in 1881 and nationalised in 1982 is the leading french regional bank and has branches in austria belgium luxembourg east and west germany and switzerland
travelers mortgage services inc a unit of travelers corp is issuing nearly 752 mln dlrs of mortgage pass through certificates said sole manager morgan stanely and co inc
each 1000 mark bond carries two warrants which can be converted into 500 dlrs each at an exchange rate of 186 marks
she said the spread between banks cost of funds and the prime rate is now around 137 basis points compared with a 153 basis point average in 1986
houston oil trust ho omits march distribution
seger said that with the recovery stumbling along the pace of the economy and the lack of robustness must be factored into monetary policy possibly a signal that the fed will be accommodative
temco service industries inc said its proposed buyout by chairman herman j
the 65 pct represenmts telecoms principal operating asset
shr loss 15 cts vs loss 19 cts net loss 2161000 vs loss 2873000 revs 245 mln vs 226 mln
gene moos aide to house majority leader tom foley d wash predicted agricultures share of budget cuts may exceed one billion dlrs
februarys current account showed a 12 billion baht deficit compared with 17 billion in january and 263 mln a year ago
national semiconductor corp said improved results at its semiconductor group helped reduce losses in the third quarter and nine months
a free trade agreement currently being negotiated with canada would be exceedingly helpful in allowing american producers to compete more effectively in that country heller said
the tender had called for a single cargo of prompt and two to three cargoes of april may
nationwide life insurance co earned 628 mln dlrs in 1985 with last years profit including record capital gains of 144 mln dlrs up from gains of 26 mln dlrs the previous year
the ingredient was cited in an article in the west german publication aids forschung
shr loss 203 dlrs vs loss 85 cts net loss 10742113 vs loss 3700712 revs 8027065 vs 8689008 avg shrs 53 mln vs 44 mln year shr loss 245 dlrs vs loss 173 dlrs net loss 11607104 vs loss 7442825 revs 326 mln vs 332 mln avg shrs 47 mln vs 43 mln note 1986 net loss includes a fourth quarter charge of 105 mln dlrs from writeoffs of certain assets
it was quoted as low as 14840 yen in the far east and dealers here said they expected the us currency to decline further
total capital corp said it acquired dunhill compact classics inc for an unspecified amount of stock
but the at the same time home remittances by pakistanis abroad dropped to 23 billion dlrs from the 1985 86 level of 2595 billion
chemical fabrics said the companies will cooperate on the development of new products for architectural and industrial applications and may supply architectural materials to each other
hillsdown holdings plc hldnl said early results for 1987 were encouraging and the combination of its investment and acquisition strategies enabled it to look forward confidently for an excellent result for the year
mobex says about 87 pct of grant gtx tendered
finance minister kiichi miyazawa said the time has come for major industrialised nations to take action on exchange rates in line with their agreement last month in paris
the company said it also approved a two for one stock split in the form of a 100 pct stock dividend
it said sales for the division for the year ended january three were about 350 mln dlrs
jutland telephone co plans to issue a 75 mln swiss franc 4 3 4 pct bond with a par price and a maximum 10 year maturity lead manager union bank of switzerland said
trandy brands inc said 80 mln dlrs of 85 pct 10 year subordinated convetible notes were placed with a private institutional investor by goldman sachs and co
holiday corp and communications satellite corp said they closed the previously announced sale to comsat of holidays 50 pct interest in hi net communications their joint venture that provides in room video entertainment to hotels by satellite
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
shr 73 cts vs 60 cts net 46 mln vs 38 mln revs 1128 mln vs 1041 mln note1987 includes lifo charge of 15 mln dlrs pension expenses declined by 879000 dlrs due to change in accounting interest decreased by 382000 dlrs
ec us plan high level trade talks
bangladeshs broad based m2 money supply rose 695 pct to 13279 billion taka in december after rising 051 pct to 12416 billion in november and 307 pct to 11422 billion in december 1985 the central bank said
however the rate of this growth can be affected positively or negatively through government action or inaction lichtblau said
the group also said paul koether met on june 8 with management representatives for talks that included the companys business potential acquisitions for the company possible opportunities to expand the company and the possibility of koether being named to its board
indications are that in return for going along with the saudi desire to maintain official prices in vienna iran is seeking concessions from the kingdom on the iraq issue it said
all we ask is for our companies to be given similar opportunities he added
shr two cts vs three cts net 369000 vs 347000 revs 213 mln vs 14 mln note per shr reflects payment of preferred dividends
mim completes part of norddeutsche affinerie buy
about 27 billion is long term and will cover land transfer costs borne mainly by landowners they said
group of 24 countries calls for debt relief
the five year accord signed in july 1986 aims to protect the us market from dumping of low price japanese microchips officially known as semiconductors
japan has launched a last ditch effort to salvage its computer micro chip pact with the united states sending a letter to top american policy makers setting out its case and instructing its producers to cut output further
though dealers only late in the day learn of the total minimum reserve holdings of the previous day the bundesbank has an immediate overview of the situation and could anticipate the strength of demand for funds the following day he said
ohio mattress co said that its ohio sealy mattress manufacturing co unit completed its previously announced acquisition of sealy mattress co of michigan inc
trade unions calculate wage settlements have produced average rises of 73 pct against 55 pct estimated by the employers federation ceoe
the report also said imbalances in the current accounts of japan west germany and the us had increased in 1986
the work is to be completed in the summer of 1989
however several arbitragers said they would shy away from the stock at its current price levels since it is unclear how high bidding for the company would go and whether the company would agree to a takeover
french cereal exports through the port of rouen fell 64 pct to 725023 tonnes during the period february 1 to 25 from 774704 for the period february 1 to 26 last year trade sources said
the international cocoa organization icco buffer stock manager bought 5000 tonnes of cocoa today for the buffer stock traders said
dealers noted the market had seen vigorous demand throughout the day prompted mainly by sterling strength
two turkish iron and steel companies were lent a total of 145 mln dlrs for modernisation projects to be paid over 10 years with a two year grace period
reed says it has no comment on harcourt rumours
brazil said during a meeting of coffee producers in rio de janeiro over the weekend that it would consider leaving the ico if its export quota was reduced by the organization
federal reserve board chairman paul volcker has repeatedly told congress that cutting federal red ink would go a long way to help reduce the massive trade deficit and also help ease some of the downward pressure on the value of the dollar
chicago mercantile exchange floor traders immediate reaction to the cold storage report for pork bellies was neutral to slightly negative
the market had opened 1 4 to 3 8 point stronger on news of unexpectedly weak us employment data for march but the advance sparked profit taking which forced prices down about 1 4 point on the day
oak industries inc said it agreed to buy the stock of electronic technologies inc of new york for an undisclosed amount of cash
commitments to new argentine loan reach 91 pct
he said in a statement a crash program was needed in the semiconductor industry to prevent the united states from becoming one of the worlds industrial lightweights bywaters remarks came as the white house economic policy council prepared for a thursday meeting to decide what sanctions if any should be taken against japan for alleged violations of a us japanese semiconductors agreement
analysts said the slowdown was likely to be temporary and the reappraisal of sterling assets by international investors was set to resume as early as tomorrow leading to higher gilt prices exchange rate advances and lower money market rates
merrill lynch mer debt downgraded by moodys
venezuelas state oil company petroleos de venezuela sa wants to raise its worldwide refining capacity by 150000 barrels of per day a company official attending the national petroleum refiners association meeting here said
interco is a manufacturer and retailer of consumer products and services
american dynamics amdc to sell 51 pct stake
barreto said there was no reason to exclude any operator whether public or private from the tenders
ekofisk and the nearby valhall and ula fields which use the ekofisk pipeline were shut down for most of august while phillips raised ekofisk platforms to counter seabed subsidence
the 0889 divisor means that a change of 1 8 125 cts in the price of a component produces a change of about 14 cts in the index
no reason was given for the expected loss
husain said no date had yet been set for the hearing and declined to give further details of the matter
columbia gas transmission corp said it made an abbreviated streamlined filing with the federal energy regulatory commission to recover a portion if its costs of renegotiating high cost gas purchase contracts
new gasoline grade to raise us refining costs
he said the ministers discussed a report on imported goods containing radiation caused by last years chernobyl nuclear disaster in the soviet union and agreed all products with excessive levels should be returned to the country of origin
lawson forecasts 25 billion stg uk current account deficit in 1987
the accord runs till 1999
last months rate was down from 802 pct in february 1986
results for tel aviv israel based company translated at rate of one dlr to 1485 new israeli shekels
australias current deficit narrowed to 750 mln dlrs in february from 123 billion revised from 129 billion in january the statistics bureau said
japanese crushers are likely to buy at least 200000 tonnes of brazilian soybeans this year and another 100000 to 200000 if quality and shipping conditions are good against 128089 tonnes in 1986 trade sources said
us senators propose ban on toshiba imports
second half sales are expected to be stronger based on a return to a more traditional seasonal shipping pattern in which retailers order and stock conservatively early in the year and time large shipments for the second half it said
poehl says german and international interest rate rises are cause for concern
a company statement said the firm expects to pay a total 1987 dividend of four cents per b share while the a share dividend will be maintained at last years level of 40 cents a share
soros lifts king world kwp stake to 81 pct
but the group acting through clevebaco lp a cleveland partnership also said it would seek regulatory approval to increase its stake
domestic orders decreased by five pct to 96 billion marks from the previous year and foreign orders fell 14 pct to 59 billion it said
the us can say no to the ec proposal if the ec ignores the us plan when it tables its own proposal he added
wall street stocks anacomp inc aac 
c and w offered role in new japan telecom company
they said the countrys total import bill both commercial and other imports was expected to reach 27 billion dlrs in the new year compared with 24 billion dlrs in 1986 87
but they are believed to have not yet sold most of the corn to end users in anticipation of further corn price rises in the world market
net profit 33 mln vs 253 mln
national bancorp inc nibca year end loss
valhi said it has about 117 mln common shares outstanding with about 85 pct held by contran corp
long term unemployment defined as being out of work for more than one year affects about 830000 people or one third of french unemployed government figures show
the company said it extended its debt by borrowing 15 mln dlrs and paying off its existing term loan of 3100000 dlrs resulting in a new debt of 119 mln dlrs
the white house distancing itself from remarks by the administrations budget chief said the federal reserves current course of monetary policy was appropriate
the incentives were to have expired march 31
popular newspapers headlined what they saw as turkish resolve and international pressure forcing greece to pull back from planned exploration in disputed international waters
the payment date is may 27
terms were not immediately disclosed
recalculated according to the new method unemployment in february 1986 would have stood at 22 pct the scb said
tam said the dollar has hit short term chart targets and is likely to rebound
the saudis eventually lifted the condition and brazil decided to reconfirm the purchase
korea petrochemical industries corp a producer of high density polyethylene hdpe and polypropylene will more than double its ethylene requirements to 9000 tonnes a month from 4000 when it completes a plant expansion at the end of this month the sources said
that companys owner john daly would then become chief executive officer of the combined company which would be renamed hemdale film corp
philips dupont optical co is arranging a 145 mln dlr three year transferable loan facility chemical bank international ltd said as agent
pacific resources pri installs oil mooring
the fed has been standing pat for the last seven months ramirez said
although bank of japan officials have consistently maintained that they had no plans to raise the 25 pct discount rate many in the markets have thought otherwise
shr loss 24 cts vs profit 23 cts net loss 5106000 vs profit 5120000 sales 114 mln vs 204 mln year shr loss 19 cts vs profit 73 cts net loss 4062000 vs profit 157 mln sales 504 mln vs 805 mln avg shrs 217 mln vs 216 mln note 1986 net includes tax credits of 2742000 dlrs in quarter and 5903000 dlrs in year
but while compliance with the new measures could necessitate hours of clerical work bankers said the end return to the treasury may not prove as lucrative as anticipated
traders said they believed buffer stock purchases could reach 75000 tonnes in a matter of weeks without lifting prices significantly given the amount of surplus cocoa overhanging the market
european monetary officials said later that the italian delegation was inside the building
it said the debentures are being issued under a previously announced shelf registration
azpurua said venalum is negotiating credits of 149 mln dlrs from the swiss bank corporation 14 mln dlrs from mitsubishi of japan and 40 mln dlrs from eksportfinans of norway
later in the week mulford too said there was no target for the dollar and called on japan and west germany to live up to their international responsibilities and stimulate growth
the above target growth of money supply over the past 16 months had prompted some discussion of the usefulness of targets themselves a matter which might be taken up at the mid year meeting of the bundesbanks council schlesigner said
the expected proposal is likely to await passage of a provisional budget for 1987 88 starting april 1 by the lower house of parliament on march 30 the sources said
thermo electron corp is raising 75 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 5 3 4 pct coupon and par pricing said lead manager shearson lehman brothers inc
the buffer stock working group finalized the remaining buffer stock rules with only minor modifications to the original draft buffer stock package produced last week the delegates said
ici issues 100 mln stg 9 3 4 pct eurobond
the situation is different in comparison to three five or ten years ago we can produce more he said
but heavy selling at around that level quickly pushed the dollar back down towards 149 yen dealers said
all foreign exchange must now be handed to local banks and exchanged for local currency
the nature of the business is that incremental traffic is incremental revenue hine said
as a result post tax profit from the exploration and production sector fell by only 126 mln stg to 539 mln
prime minister david lange is in hawaii on his way home from vancouver
i am for credits to invest for that purpose he said
the bond is available in denominations of 1000 and 10000 dlrs and payment date is april 14
hayes albion hay delays special meeting
last time we had a gentlemans agreement the trade did not act as a gentleman said another analyst adding without the need to submit documents the ball will be in the producers hands some feel that importers will take advantage of the voluntary compliance due to development of a two tier market in which non member countries buy coffee at a big discount
ibc details plans to pay creditors
net also includes 214 mln dlrs in accumulated foreign exchange losses canadian funds note continued shr after preferred dividends
current regulations allow use of mechanically separated ingredients at levels up to 20 pct of the meat and poultry product but require it to be listed in the ingredient statement as mechanically separated species usda said
a shareholder group including far hills nj attorney natalie koether said it reduced its stake in ccx inc common stock to 10000 shares or less than one pct of the companys common stock outstanding from a previous stake of about ten pct
the french government is to sell to the public its 4742 pct direct holding in societe generale stgnpa s regional bank subsidiary societe generale alsacienne de banque sogenal from next monday sogenal officials said
jacobs sells stake in gillette gs 
year to march 31 final dividend 365p vs 31p making 54p vs 46p share 1411p vs 1213p pre tax profit 2711 mln stg vs 2406 mln net profit 1812 mln vs 1521 mln turnover 25211 mln vs 22529 mln note london international group plc lonll said that sharply increased sales of condoms had led to a particularly strong start to the year and it had considerable confidence for the future
uk sugar factory closes due to shortage of beet
cargo handling in the ports has been disrupted with container movements most affected but has not stopped altogether they said
for the year ended march 31 1985 cenergy reported net income of 3705000 dlrs or 36 cts per share on revenues of 71 mln dlrs
an additional 7000 tonnes of semolina are still available to egypt under the export enhancement program initiative announced august 1 1986 it said
there is a flight to quality hamley said
allwaste alwso to make acquisition
the associations said they would form the company by exchanging republics stock for shares in the holding company which pioneer savers could purchase when pioneer converts from mutual to stock ownership
in 1985 the company lost 1684 mln dlrs or 1227 dlrs a share
ire financial corp if year
tender offers typically include minimum share conditions
the workers current contract expires may 31
she said the bond share was lifted from 35 pct in the last three months
the current offer price is about 782 mln dlrs a company spokesman said up from the previous offer of 720 mln dlrs
fujitsu may assemble its own computers in us 
it said total crushing capacity for members was 25873904 bushels vs 25873904 last week and 25459238 bushels last year
net international reserves now total about 800 mln dlrs compared to 154 billion dlrs a year ago
the company which is still in default said it expects to completed amended loan agreements during the next few months
a higher proportion of foreign ownership even up to 100 pct is now possible for new investments in the manufacturing sector made between october 1986 and december 1990 he said
empire of carolina inc emp 4th qtr net
i believe they are looking at 18 dlrs long term also in their heart of hearts they believe that will be exceeded margoshes said
iraq reports attacks on supertanker oil targets
blockbuster entertainment corp bbec year loss
note companys full name is gebrueder sulzer ag sulzz
cable and wireless to merge two hk units into new telecommunication operation
the company a maker of mobile homes said it terminated merger discussions with nursing centers of america river oaks said it will place a 26 mln dlr convertible note with seizer who in turn will name six additional members to the companys five member board
falcon cable fal sets initial distribution
the debentures are convertible into the companys common stock at 2784 dlrs per share representing a premium of 28 pct over the stock price when terms on the debt were set
the study concluded that by 1995 the us will be relying on foreign countries for 50 pct of its oil more than the peak of 48 pct reached in 1977 and far above the 33 pct rate during the 1973 74 arab oil embargo
it said the rights are redeemable by its board at one half ct per right
the issue is non refundable for 10 years
the damage to the pipeline was a severe economic blow to ecuador where oil accounts for up to two thirds of total exports and as much as 60 pct of government revenues
bankers suggested that depending on a banks political and economic forecasts for south africa if it decided to take the option it may not have much difficulty finding such borrowers
the real estate market remained strong and swire last year revalued its property portfolio up 634 mln dlrs compared with an increase of 8644 mln dlrs the previous year
the institute had made the revision due to poor prospects for austrian exports he added
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
money supply rose a seasonally adjusted 5186 pct in the year to end april raising fears of higher inflation
he said aseans looming trade problems would not necessarily stem from protectionist legislation now being contemplated by congress but simply because of the adjustments the us economy will have to make in order to service our large and growing external debt shultz said the us deficit had resulted not from falling exports but from higher imports that had fuelled world growth
the commission also defended proposals to dismantle monetary compensatory amounts mca a system of cross border subsidies and taxes to level out foreign exchange fluctuations for farm exports against harsh west german criticism
world bank loan raised to 450 mln guilders
the may consumer price index which has the same base rose 14 pct to 1491 after a 03 pct gain in april for a year on year rise of 35 pct
the department said the delay will enable analysts to incorporate into the report usdas first supply and demand estimates for the 1987 88 marketing year and data on farm program participation
indonesian energy minister subroto said he sees the oil market continuing bullish with underlying demand expected to rise later in the year
shr 248 cents vs 178 final div to announced after july 1 vs final 10 cents making 15
he said we will be able to define a movement either towards market stability and price recovery or depending on the market a reversal earlier this week hernandez said venezuelas oil price has averaged just above 16 dlrs a barrel for the year to date
robert durham said continued strong demand and low inventories pushed prices up eight to nine pct on the new york commodities exchange last month
a deutsche bank spokesman here said he had no knowledge of a possible equity linked fiat bond
tmoc tells shareholders not to accept santos bid
safeguard scientific sfe in equity deal
this is equivalent to 780p per avana ordinary
lyngs remarks came in a speech at oklahoma state university today
the transaction is expected to be completed by september 30
i feel pretty safe in saying that any process that tries to dictate a numerical outcome from above is doomed to fail simply because theres no way to enforce it penner said
but he sees potential trouble beyond then
frazier said the stocks reports in particular were friendly for the market and soybean prices would jump three to five cents a bushel if the bell rang right now were getting our disappearance up
it said vernells based in bellevue wash had annual sales exceeding 30 mln dlrs
earlier today usda said that plywood was eligible under an export credit guarantee offer for turkey announced yesterday
us commerce trade report omits freight costs
chase manhattan quickly followed
the ministry said citibank which chairs mexicos bank advisory committee has received cables from the british banks confirming said commitment the ministry said the books on the package would be closed by mid april and the first 35 billion dlrs of the new money should arrive by the end of the month
blizzard closes bosphorus
in 1984 the company was renamed uccel corp
this weekends meeting of latin american coffee producers here will call for the international coffee organisation ico to start talks aimed at firming prices nicaraguan foreign trade minister alejandro martinez cuenca said
the meeting took place on the eve of the annual meeting here of the inter american development bank
newmont said it will also ask shareholders to approve amendments to its certificate of incorporation limiting certain liabilities of its directors
silver exports totaled 1549000 ounces in december vs 2346000 in november and 1504000 ounces in december 1985
the bank is committed to defending the crown at certain levels in a basket of 14 trade weighted currencies
the major challenge to bank profits in turkey came in 1980 when the government faced with its worst financial crisis in 50 years raised domestic interest rates sharply to fight an inflation rate of over 100 pct and launched an export drive
fleet financial group said that its board and the board of norstar bancorp have agreed to merge the two bank holding companies in a transaction which would create a 23 billion dlr asset bank holding company
newhall investment properties nip payout
the report dated march 27 said many sources have stated that the soviet union was initially interested in purchasing 23 mln tonnes lof corn from argentina
despite earlier optimistic indications the south african corn crop is at a critical stage in its development and recent reports of heat stress could reduce production and therefore exportable supplies the us agriculture department said
the commerce department has argued that excessive restrictions hurt us companies that compete with foreign exporters
the borg warner spokesperson said the company has not been able to reach an agreement with minstar and borg warner has not granted minstar access to any records
the company said its new posting for west texas intermediate and west texas sour is 19 dlrs a barrel
analysts also noted that a drop in manufacturers input prices was almost entirely due to anticipated seasonal factors such as a fall in industrial electricity costs
we recognize a good deal must be a fair deal one that is fair to both sides mulroney said
the yield on 30 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama fell to 584073 pct from 621950 last saturday bankers said
foreign currency holdings fell 728 billion francs to 12458 billion while ecu holdings fell by 555 billion francs to 5852 billion due to the repayment of part of frances debt owed to the fecom and stabilisation fund operations the ministry said
qtly div eight cts vs eight cts pay june one record may 15
the ministry is standing athwart the regulatory control of a key industrial sector telecommunications and information said one diplomatic source
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
yesterday afternoon the bankruptcy court issued a temporary restraining order prohibiting transamerican and coastal from taking any action in any court that would interfere with the jurisdiction of the bankruptcy court
the group has said it is accumulating intermedics stock for investment purposes
ida extends 371 mln dlrs in africa loans
but greenidge said guyana has taken steps to reduce its fiscal deficit which now amounts to 65 pct of gdp
but they also noted that the white house has said it was unlikely the tariffs would be lifted before the meeting of the worlds seven major economic powers in venice on june 8 10
california energy ceci gets private funding
in the us people talk about fair trade but not here he added
income in the first three months fell to 2860 mln dlrs from 3043 mln in the same 1986 period
harlow said a fellow analyst at whale securities estimates that anacomp will pay between 100 mln dlrs to 150 mln dlrs for datagraphix
theres no question that there will be a sharp decrease in corn acreage one said
1987 results include all operations of all acquired sealy brand licensees and 82 pct of sealy
the trave ore proceeded by its own means to hamburg
cfcf inc six mths feb 28 net
intermark inc which together with one of its subsidiaries already holds a 434 pct stake in pier 1 imports inc told the securities and exchange commission it plans to acquire a majority of the companys voting stock
shl systemhouse nms files for public offering
consolidated debt 543 billion francs vs 619 billion
roy f
madagascar cocoa production estimated higher
the peso dollar rate has to be undercut to make our exports more competitive monsod said an interview
a w brands sodao completes acquisition
building was boosted by two factors last month unusually mild weather and low mortgage rates
pakistan is lined up shortly to buy 100000 tonnes of whites although traders said the tender originally scheduled for tomorrow might not take place until a week later
gte said proceeds will be used to reduce short term debt and to partially fund repurchases of common stock
manufacturers hanover trust co became the third major us bank to increase its prime rate to 7 3 4 pct from 7 1 2 matching a move initiated yesterday by citibank and chase manhattan
canadian imperial bank of commerce cuts prime rate to 875 pct from 925 tomorrow
qtly div 10 cts vs eight cts prior pay april 16 record march 31
qtly div 23 cts vs 21 cts prior pay april 1 record march 16
lloyds said it has 36 billion stg in outstanding mortgage loans but had not estimated its total market share
some 247 billion dlrs in bids for six month bills were received including 832 mln dlrs in non competitives
hofmeister began selling rubber when prices exceeded the may sell level of 232 cents per kg early last month
this is a healthy progression however the experts do not expect the japanese to run the board meetings of any giant us or european concerns
in a filing with the securities and exchange commission the group said it bought 68000 nash finch common shares between april 7 and june 17
some traders said recent chinese purchases could total as much as 300000 tonnes but others while agreeing a heavy volume had been taken said an amount less than that figure was involved
cocoa buffer stock compromise gaining acceptance
on december 31 1986 exxons total debt of 787 billion dlrs was down slightly from the previous years 79 billion dlrs and long term debt stood at 43 billion dlrs down from 48 billion dlrs in 1985
growers in the past week discovered more empty soybean pods in the main producing areas of southern cordoba and santa fe provinces and northern buenos aires
mcdonalds mcd up on reaffirmed recommendation
the threshold of profitability has returned to the foreseeable future he said
sarlen and associates inc said it completed its private placement of 125 mln dlrs of five year eight pct senior subordinated notes with warrants to purchase common and 25 mln dlrs of 12 pct series a preferred with warrants to purchase common
it said it will improve throughput to 700 tons a day at 0221 ounce of gold per ton
mueller said the cuts in official interest rates had put an end to interest rate speculation
the government has forecast growth rate of three to four pct for 1987
lyng said he had no plans to meet with indian officials during gandhis visit here adding i just dont know of anything that might be announced specifically asked if the ball was in the indians court he said yes gandhi is to leave washington tuesday evening
you must address this problem on the exchange rate side but it cannot be solved on the exchange rate side alone
american express also said the options reflect the continuing integral role of shearson in american express worldwide financial services strategy
jacobson stores inc said its board voted a three for two stock split payble march 30 record march 13
continental said the estate of harold vernon and certain parties have signed a letter of intent to sell the stock for 1225 dlrs a share for a total of about 6538000 dlrs
last year the republican controlled senate voted three times over the objections of the administration to cut us funding of development banks by the amount of these loans
the measures to take effect by june were designed to lift restrictions on foreign currency operations in line with deregulation in the banking industry he said in a telephone interview
the price will be used in determining first handler cotton certificate payment rates
geneen and donaldson lufkin and jenrette securities corp
the repurchase agreement yield compares with the 39375 pct one month commercial bill discount rate today and the 440 pct rate on one month certificates of deposit
he told shareholders the company has a 190 mln dlr exposure in loans to brazil if that country defaults on its debt payments
aslk cger finance nv is issuing a 10 billion yen eurobond due april 10 1994 with a 5 1 2 pct coupon and priced at 101 1 2 pct lead manager ibj international ltd said
canada ruling on us corn injury due this week
it said each preferred share would be convertible to 185 common shares on either march 31 1997 or the business day before a fixed redemption date
schering corp a unit of schering plough corp said natures blend products inc agreed to an injunction against its fiber slim product
system designers shares were nine pence higher at 100 prior to the share stake announcement and have showed little movement since
analysts said the 52 dlr per share offer was underpriced by about six dlrs per share
non redeemable for five years the notes are rated b 3 by moodys investors service inc and b plus by standard and poors corp
met pro corp mpr to pay regular dividend
almi group lp said its co chairmen michael landes and albert schwartz and its vice chairman michael spiegler have acquired a 50 pct equity interest in clearview baking corp for undisclosed terms
the world bank said it has approved a 140 mln dlr loan for india to help lessen that countrys dependence on imported oil and spur development of its own petroleum resources
according to finance minister manuel azpurua a 100 mln mark credit has been lined up for the venalum aluminium plant
texaco tx reserves down despite lower output
cityquest plc a newly formed company is making a recommended 120 mln stg offer for builders merchants and diy do it yourself company wickes plc wickes said in a statement
the philippines will offer commercial bank creditors an innovative pricing plan that will make debt payments through certificates of indebtedness instead of cash the authoritative business day newspaper said
2nd qtr shr profit 32 cts vs loss 95 cts net profit 280 mln vs loss 822 mln revs 9502 mln vs 8620 mln 1st half shr profit 65 cts vs loss 62 cts net profit 566 mln vs loss 535 mln revs 188 billion vs 167 billion avg shrs 922 mln vs 867 mln note period ended february 28
he has also said he would be unable to seek control of myers unless he gets financing
jan 31 end shr 45 cts vs 37 cts net 8349000 vs 6187000 sales 1267 mln vs 1037 mln year shr 155 dlrs vs 129 dlrs net 281 mln vs 211 mln sales 4859 mln vs 3889 mln note latest year net includes three cts shr gain from sale of assets
in 1986 it refined 20 mln gallons of used oil
but land losses in future should fall because nearly all families already have new houses she added
the fields reserves could be sold domestically through thailands gas distribution network or by converting the gas to electricity the sources said
a total 60500 tonnes of current series white sugar received export rebates of a maximum 44819 european currency units ecus per 100 kilos at todays european community ec tender the uk intervention board said
ch beazer holdings plc said it has filed with the us securities and exchange commission for an offering of 6250000 american depositary shares representing 250 mln ordinary shares or a 95 pct interest in beazer through underwriters led by american express cos axp shearson lehman brothers inc and robinson humphrey co inc
sea containers ltd predicted its first quarter fiscal 1987 net earnings would improve by 10 mln dlrs over the same period a year ago
yesterday marines and police occupied one ship the docemarte seamens leaders said
shr 10 cts vs seven cts net 3501000 vs 2420000 sales 3327 mln vs 2749 mln qtly div four cts vs four cts prior pay april six record march six
cpc international cpc sells south african unit
s and p said it is making a rating distinction between secured and unsecured debt because of the significant amount of secured in holidays capital structure
at 40 dlrs they told the commission they had bought their new purolator shares march 25 27 for 34875 35250 dlrs each
alden electronics adnea sets lower dividend
final div 825p making 1175p vs 11p
charter federal chfd jefferson to merge
bank of communications plans 200 mln hk dlr cd
the order backlog fell eight pct the third straight quarterly decline and ended three pct under the year earlier level
but the markets reaction testing exchange rate levels indicated by lawson was probably overdone and the longer term outlook for sterling remained bullish they agreed
time tl to sell part of unit
no flow tests have been conducted it said
the hunt group said it offered on march 3 to buy the entire 53 pct stake held by dissident shareholder donald carter at 14 dlrs each but has received no reply as of yesterday
west german ship sinks off west africa
the british government had applied for the release of a further 100000 tonnes in both may and june from british intervention stores to prevent market prices rising
the company said the device will be sold under the name companion heart monitor
gross national product grew 24 pct last year
it was better to give a vague expression than pin pointing a level which could have an adverse impact on the market miyazawa said
it said its outlook for the year remains unchanged
porsche half year earnings called satisfactory
nv nederlandse gasunie of the netherlands has signed a 328 billion yen bullet loan agreement arranger mitsubishi bank europe sa said
the structural talks are intended to be free wheeling discussions among senior officials
rural banking and finance issues zero coupon bond
ccc accepts export bonus dairy cattle to morocco
hall and co inc said its independent accountants will issue a qualified report on its financial statements
this is a higher return than they would have earned without the excessive draining through the treasury bill mechanism
tech data corp tecd 4th qtr ends jan 31 net
evans and sutherland computer corp said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr issue of convertible subordinated debentures due 2012
swedens wallenberg group said it raised its holding in telecommunications maker telefon ab lm ericsson ericst
the icco made buffer stock rules negotiations a priority at this semi annual council meeting in order to stop the slide in world cocoa prices
memory protection mpdi sees bogen closing
the project aims to facilitate mexican oil exports to japan and the far east and is expected to be completed in three years
argentine oil production down in january 1987
merrill to get 30 mln dlr fee in borg bor deal
ameritrust said it was advised that the clevebaco group has filed an application with bank regulatory authorities seeking permission to acquire up to an additional three mln shares of ameritrust common stock
southland slc unit raises crude prices
the fund is for local investors seeking capital growth through a diversified international portfolio
grain ships loading at portland
interconnect capital corp said it sent a letter to the board of gates learjet corp offering to buy the company for 707 dlrs a share
the semi official anatolian agency said naval vessels ended their close protection of the ship as it continued work in turkish waters but were following it at a distance
malaysias benchmark tapis blend fetched above 18 dlrs bbl this year against a low of 1050 dlrs bbl in july they said
the company said it will retire 26 mln dlrs at par through operation of the debentures sinking fund
king fahd of saudi arabia in an interview with and visnews on march 11 said the kingdom wanted oil price stability and called on non opec producers to avoid harmful competition with opec
they like our beef and want to buy more he said
the breakthrough in the venezuelan talks which have been going on intermittently for several months follows the announcement earlier today of a 106 billion dlr debt rescheduling pact between chile and its bank advisory panel
trading surplus comprised automotive components and products 101 mln stg vs 105 mln industrial services and supplies 30 mln vs 21 mln wholesale and industrial distribution 11 mln vs 22 mln steels and forgings four mln vs 10 mln by region britain contributed 34 mln stg vs 47 mln continental europe 77 mln vs 56 mln usa 28 mln vs 51 mln rest of world seven mln vs four mln
progressive reductions in the us quotas have led to production stagnating or falling rather than being shifted to the free world market
raytheon co rtn sets quarterly
general host corp gh sets quarterly
the spokesman said that possibility had been evaluated by ferruzzi but that the companys attention at the moment was decisively in another direction the spokesman responding to a report in the italian economic daily il sole 24 ore that ferruzzi was considering a possible bid for the cpc plants told his company hoped to conclude the talks currently underway in a couple of months
the company said it is continuing talks with piedmont on arriving at a definitive merger agreement and the two companies hope to reach one very shortly
the meeting was called after reports that warships of both countries were sailing towards a disputed oil exploration zone of the aegean
washington water power wwp 3rd qtr loss
since the acquisition lilly has repurchased 20 mln warrants so there are currently 151 mln outstanding
crs sirrine da to take write off
dnc international finance as is issuing a 10 billion yen eurobond due april 7 1994 with a five pct coupon and priced at 102 3 8 pct yamaichi international europe ltd said as joint book runner with tokai international ltd
the survey said overall corporate earnings were expected to turn positive with an estimated 04 pct year on year increase in the second half of fiscal 1986 ending on march 31 after a 54 pct decrease in the first half
it said proceeds will be used to pre pay a portion of its existing floating rate bank debt thereby extending the maturity of the companys overall debt structure
the bank of spain said it raised its rate for overnight call money to 145 pct from 14 pct with immediate effect at todays daily auction for assistance funds
citadel cdl settles with great western gwf 
for all of march banks would be required to hold net daily average reserves of 507 billion marks dealers said
i am confident we will see action taken sen
japanese compound feed output fell to 206 mln tonnes in january from 257 mln in december against 204 mln a year earlier agriculture ministry statistics show
the official said industrial production is expected to rise 32 pct in march on higher production by machinery steel and chemical makers but will drop 34 pct in april on a downturn in the output of those industries
light louisiana sweet is now posted at 1935 the company said
silas said phillips hope to achieve its goal by raising the capital expenditures budget to develop its oil and gas properties
rep
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
because of numerous insolvencies at home by far the largest part of the provisions were set aside for individual write downs from domestic business
great atlantic and pacific tea co inc gap div
roberts makes and distributes accessories adhesives and tools used in carpet installation
corrected crazy eddie crzyo sets rights
rockefeller said the recent tour by brazilian finance minister dilson funaro of major industrial nations was a sign that brazil wanted to be cooperative
the august budget had forecast domestic demand would contribute 075 percentage points to non farm gdp growth of 25 pct while net exports would account for 175 points
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
other delegates said there was more open talking at the ico and at least differences were not hidden by a bad compromise
total dutch imports of cocoa beans rose to 17978 tonnes in january from 13961 in january 1986 while exports fell to 1852 tonnes from 3111 the central bureau of statistics said
the international development association ida is lending 186 mln dlrs to sri lanka for agricultural research and development the world bank said in a statement
based on the estimate the trust said there may be no money available for cash distributions to unitholders for the remainder of the year
there is a selling concession of 1 1 4 pct and a combined management and underwriting fee of 5 8 pct
first bancorp troy nc initial offering of 400000 shares of common stock at an estimated 17 19 dlrs a share through interstate securities corp
it now appears likely that the companys throttle body business with general motors corp gm will peak in the first six months of 1987 continue at reduced levels to july 1988 and suffer an interruption for the period from july 1988 to july 1989 walbro added
prices for crude energy goods such as crude oil coal and gas at the wellhead rose 26 pct last month after a 100 pct january rise
farm credit task force chairman and newly elected vice president of the nppc ray hankes said delegates wanted a program that all commodity groups can work with and bring a resolution to this problem with legislators in washington
the conversion price has been set at 463 yen per share compared with todays 450 yen close
indonesia appears to be nearing a political crossroads over measures to deregulate its protected economy the us embassy says in a new report
north bh sets one for five offer for norgold float
santos ltd stoss year end dec 31 net profit 8867 dlrs vs 14404 mln
year ago results restated to reflect reclassification of coal mining and marketing segment as ongoing operation rather than discontinued operation
healthcare international will continue to operate the hospital under a lease agreement the company said
although i can sympathise its occurred for only a few weeks or months in japan the tarriffs announced on friday by president reagan will affect about 300 million dlrs worth of products only a tiny fraction of japans total exports to the us even so reagans decision doesnt give us any joy
hf ahmanson and co ahm 1st qtr net
the vessel was bound for iskenderun turkey from lake charles
china calls for better trade deal with us 
usda said the petitioning firms claimed companies avoid using mechanically separated meat in their products because the term carries an unwarranted negative connotation in the minds of many consumers
the index base 1980 fell to 1545 in february from 1546 in january against 1474 in february 1986 giving a year on year increase of 48 pct
the loan will pay 1 8 point over london interbank offered rates libor throughout the whole of its life
the firm has nearly 97 mln dlrs of debt and preferred outstanding
there has been a long running political debate about how long his mandate should be
main destinations were saudi arabia with 158109 tonnes of barley the soviet union 147214 of wheat italy 104704 of wheat spain 91381 of wheat and maize china 52500 of wheat and algeria 41000 of wheat
nl industries inc 4th qtr shr loss 28 cts vs profit seven cts
the financing will be for five years and involves a committed backstop facility and an uncommitted tender panel for cash advances in dollars or other available currencies
the cds will be issued at par in denominations of 100000 dlrs each
dividend 24 francs vs 30 consolidated net profit 1157 mln francs vs 1083 mln of which attributable to group 1108 mln vs 1025 mln consolidated net turnover 1116 billion francs vs 1142 billion parent company net profit 1155 mln vs 950 mln parent co net turnover 999 billion vs 991 billion note the electrical contracting company is 999 pct owned by the state run compagnie generale delectricite cge
shultz ussr trip fuels talk of eep wheat offer
the issue is being co lead managed by credit lyonnais banque nationale de paris bnp and credit suisse first boston
the newspaper quoted deng as saying that grain output is one of several key issues that will influence the whole development of the economy
court rejects buitoni appeal over iri food unit
the high regulatory environment has delayed life insurance firms diversification
ec commission declines comment on sugar offer
the bank of spain has extended the reserve requirement for banks to their convertible peseta funds in an attempt to curb speculation in short term capital which is currently fuelling money supply growth
since 1982 shell has acquired two billion dlrs in new reserves including 470 mln barrels of oil equivalent at a net cost of 280 dlrs a barrel he said
opecs production ceiling for the second half of 1987 is 166 mln bpd
it is available in denominations of 1000 and 10000 australian dlrs and the payment date is april 6
uk money market deficit forecast at 800 mln stg
reynolds metals rlm registers debentures
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
the company earlier reported 1986 net profit rose to 2853000 dlrs or 125 dlrs a share from year earlier 1579000 dlrs or 42 cts a share
s and p cited the acquisition of amc as strongly negative
gdp grew in line with the average growth rate since 1980 and the inflation rate was the lowest since 1969 70 according to a government economic survey
export development corp issues euroyen bond
first wisconsin corp said it has agreed to acquire north shore bancorp inc of northbrook ill for 6160000 dlrs in cash or slightly more than twice book value subject to approval by north shore shareholders and regulatory authorities
indonesias state oil company pertamina has informed its affiliated japanese companies that crude oil supplies will be 40 pct less than contractual volumes in july a spokesman for an affiliated company said
venezuela to lend up to 125 mln barrels of oil
the notes and swap agreement are secured by a charge on 97 mln dlrs of the denmark bond
nz quarterly current account deficit narrows
he said the fed will purchase bills with maturities from may through september 10
assays ranged from 035 ounces of gold per ton over a 150 foot interval at a depth of 350 to 500 feet to 11 ounces of gold per ton over a 65 foot interval at a depth of 200 to 410 feet
period ended january 31 shr 22 cts vs 16 cts net 518564 vs 374198 revs 2090724 vs 1614079
securities houses will launch an issue about 10 days after a corporate declaration of intent instead of 25 days as now the securities managers said
a bank official said m 3 rose 972 pct to a provisional 14980 billion pesos at the end of december from a month earlier for a year on year gain of 1272 pct
mills consumed 29600 tons of refinery shapes in january versus 24000 tons in december
he said the company present in africa since 1932 and with majority stakes in six breweries and interests in 25 was hampered by the lack of hard currencies there
total lard usage in the 1986 87 marketing season which began october 1 amounted to 1252 mln lbs vs 1856 mln lbs in the year ago period
the firm expects good 1986 results with an appropriate dividend
the federal reserve is expected to intervene in the government securities market to add temporary reserves via customer or system repurchase agreements economists said
maize exports for 1986 87 to january 31 1987 totalled 315000 tonnes with about a further 40000 tonnes expected to be exported in february and march against 285000 tonnes in 1985 86
twa twa in court settlement with usair u 
benguet corp be calendar 1986
shr primary 92 cts vs 109 dlrs shr diluted 82 cts vs 97 cts net 218 mln vs 261 mln nine mths shr primary 307 dlrs vs 296 dlrs shr diluted 272 dlrs vs 244 dlrs net 732 mln vs 653 mln assets 1429 billion vs 1235 billion deposits 952 billion vs 869 billion loans 879 billion vs 869 billion
baker said the six nations participating in the paris meeting in february had acknowledged that the currencies are within ranges that are broadly consistent with the economic fundamentals and we and the others as well remain prepared to cooperate closely to foster stability in exchange rates around those levels
board member leonhard gleske also told a forex association conference current exchange rates of major currencies can be viewed as equilibrium levels in a medium term perspective he said the recent paris agreement on currency stabilisation and policy coordination between the group of five and canada may herald an era of greater exchange rate stability the paris agreement was not however an attempt to set up permanent target zones for exchange rates gleske stressed adding such targets would be extremely difficult to agree and enforce on an international level
its reported revenues for the period ended december 26 1986 of 13 billion dlrs
shr 60 cts vs 85 cts qtly div 10 cts vs 10 cts prior net 1407000 vs 1996000 sales 754 mln vs 582 mln note dividend pay april 16 record april nine
seipp added the federal government should make further courageous steps to decrease the states proportion of the german economy and to increase its flexibility
the notes may be redeemed on september 30 1989 at 101 1 4 pct declining by 1 2 pct per annum thereafter
total area planted with maize for this harvest stood at 358 to 378 mln hectares down two to seven pct from the 385 mln hectares planted in the previous harvest
stability in oil prices should lead to renewed investment paues said
but when the dust settles they will reevaluate the situation and will likely extend credit to the chapter 11 company but other officials at texaco were not immediately available to say whether discussions were being held with its banks or whether credit lines had been reestablished
indonesias current account deficit is projected by the government to fall to 264 billion dlrs in the coming financial year which starts on april 1 from an estimated 41 billion in 1986 87
there is a lot of oil priced on government to government deals which are below official prices and this is probably being resold one international trader said
ransburg corp rbg 1st qtr feb 28 loss
mts said marine midland banks inc mm has committed to lend it 100 mln dlrs for the acquisition and use its best efforts to syndicate another 400 mln dlrs in senior financing for the transaction
niskanen said the goal of a pact should be to end all tariffs within 10 years lower subsidies on exports set rules for trade in services and investments end curbs on government procurement and agree ways to resolve trade disputes
it was concern about credit growth which prompted the bank of england to engineer a one point rise in uk bank base rates to 10 pct in early august caution endorsed subsequently by news of a massive 49 billion stg july rise in bank lending
one is a growth contingency co financing with the world bank for 500 mln dlrs of which half will be guaranteed by the world bank
qtly div 10 cts vs 10 cts prior pay april six record march 16
we believe that the equity market has much more upside potential than the bond market chrysler corp c treasurer fred zuckerman said
he said a slowdown in west german economic growth had been caused by sharp exchange rate swings and that the paris agreement should help in this respect
lewis said if american express reduced its exposure to the brokerage business by selling part of shearson its stock might better reflect other assets such as the travel related services business
audio video ava to get expenses from dixons
the so called fixed rate system scuttled in the early 1970s is still considered unworkable in the present world
fiber optic lines which send digital light impulses along microscopic glass lines is quicker more accurate and more economical than traditional copper cables
commonwealth bank cuts australian split prime
if the company is unable to or fails to achieve certain projected operating results in the meantime it will be required to divest enough assets to retire its debt it said
us supreme court justice sandra day oconnor early this morning lifted an appeals court injunction blocking the planned merger of delta dal airlines inc and western airlines wal the court said
in volume terms however 1986 sales rose slightly against 1985 the company said without giving details
norcen energy resources ltd 41 pct owned by hees international corp said earnings and cash flow will improve in 1987 even if oil and gas prices remain at 1986 levels
fendt said imports were running at levels well above the traditional average for brazil
that strategy which called for some 20 billion dlrs in new funding from the commerical banks and nine billion dlrs in spending from the development banks mostly the world bank came under profound doubt with the decision by citibank and chase manhattan to set aside new reserves
gross fees of 1 7 8 pct comprise 5 8 pct for management and underwriting combined and 1 1 4 pct for selling
representatives of major uk based banks are meeting here today to consider a new plan for reducing the cost of financing british exports guaranteed by the export credits guarantee department ecgd senior banking sources said
montedison unit issues 50 mln australian dlr bond
consequently rates in the money market eased during the day one month interbank sterling shedding 5 16 point to 10 9 16 7 16 and three months trading 1 16 point down at 10 5 16 3 16 pct
taiwan plans new tariff cuts
townsend thoresen say the ship built at the west german yard of bremerhaven in 1980 was built to the highest safety standards
the full company name is koninklijke luctvaart maatschappij nv klmas klm released provisional figures on may 26
qtr ends aug 31 shr 22 cts vs 24 cts net 2794000 vs 2993000 revs 914 mln vs 664 mln six mths shr 45 cts vs 45 cts net 5677000 vs 5700000 revs 1746 mln vs 1328 mln note full name of company is continental information systems corp
nichemen 10000 tonnes number two srw wheat for june 12 july 7 at 10343 dlrs fob gulf
teck still in talks on bc copper venture
a spokesman at bombay stock brokers batliwala and karani said government bonds were valued at about 20 billion rupees or about 40 pct of 50 billion rupees raised by both government and non government firms in the domestic capital market in 1986 87
public company we are and public company we wish to stay henrion told the paper
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
most of the benefit will be in the fourth qtr because it will integrate the company in the second half anacomps earnings will be less if it has problems integrating datagraphix harlow said
exports in 1985 86 were valued at 944 mln us dlrs but the value could fall by 30 pct this year because of low prices he added
national guardians revenues for the first six months of 1987 were approximately 72 mln dlrs compared to about 42 mln dlrs the year ago period
the international cocoa organization icco buffer stock could face an uphill battle to halt the downtrend in world cocoa prices when it begins buying operations in the next few weeks cocoa traders said
low risk securities carrying a zero rating would include public authority bonds for the federal government states and municipalities the sources said
management science america inc msaio 1st qtr
japans trade surplus 927 billion dlrs last year has poured into share and bond markets around the world and funded a good chunk of the huge us budget deficit
commercial banks and primary and registered government securities dealers will each have two securities accounts with the mas one for their own holdings and the other for holdings on behalf of all their customers hu said
it also wanted a reprogramming of already approved loans an apparent reference to the disbursement schedule of thee credits
stad rotterdam takes stake in swiss owned insurer
gunnar said it and mill city can earn a 50 pct interest in tyranexs option to buy the tyranite gold mine by spending up to five mln dlrs on exploration development and feasibility studies by 1990
heineken now has seven bars in moscow that are enjoying good sales but the bars only accept western money
investment in us stocks and bonds is difficult considering the dangers said katsuhiko okiyama deputy general manager and chief adviser of yamaichi securities co ltds fixed income securities marketing group
the gap with korea was 700 mln dlrs up 248 pct from a year ago
shr profit two cts vs loss 11 cts net profit 31734 vs loss 190677 sales 1325978 vs 1029921 nine mths shr profit eight cts vs loss 53 cts net profit 142200 vs loss 939435 sales 4066777 vs 2793479
hechinger hecha bonds upgraded by s p
he said borrowing arising from money market operations would amount to an additional 29 billion dlrs making a total of 298 billion dlrs just short of the borrowing limit of 30 billion dlrs
late yesterday the market was reporting it had bought one to two cargoes
cargill uk strike talks postponed
us trade representative clayton yeutter said trade ministers meeting here have reached a general consensus on agricultural trade reform under the latest uruguay round of the general agreement on tariffs and trade gatt yeutter gave no precise details of the understanding but told journalists the consensus covers the principles involved in agricultural trade reform and what needs to be done to improve the global situation in agriculture
the companys cash and equivalents fell to 299 mln dlrs at year end from 430 mln dlrs at year end 1985 after a net decrease of 131 mln dlrs during 1986
the sources said the tone of poehls comments boosted growing sentiment that the dollar would be stabilised around current levels by international central bank cooperation
calny said it retained oppenheimer and co inc to consider various financial and strategic alternatives available to the company
atlantic said it originally announced its intention to acquire centurion located in los angeles on feb 23 1987
the reagan administration facing an uproar in congress over the apparent lack of progress in cutting the 1698 billion dlr trade deficit is learning now that to extract results from japan dramatic action is required
the rights will be exercisable only if a person or group acquires 20 pct or more of pubcos common stock or announces a tender which would result in ownership by a person or group of 20 pct or more of the common stock the company said
moodys may downgrade conseco cnc debt
net crude oil and condensate reserves were 752 mln bbls as of dec 31 1986 compared to 751 mln bbls at the end of 1985 unocal said
it quoted a letter by companys chief executive charles hiltzheimer that said the ships and assets will be bought by rival us shipping companies subject to approval by their boards
the level of future dividends will be influenced by the implications of the proposed dividend imputation legislation it said
brazil has resisted going to the imf for help because it fears that the fund will ask for changes in its economic policies that will throw it into recession
nuclear support services inc said it agreed in principle to buy the business and assets of itt henze service from itt corp for an undisclosed amount
general signal corp gsx 3rd qtr net
public finances director jorge marcano said the government plans to issue dollar mark and yen denominated bonds this year for amounts varying between 100 and 150 mln dlrs
the company said burger king and another pillsbury unit qsv properties will be the master limited partnerships general partner
with the heavy tax drain in march banks are likely to remain cautious about taking more liquidity out of reserves than is absolutely necessary
prospects of an agreement on rescheduling about 94 billion dlrs of philippine foreign debt have increased following the offer of a higher interest rate by manila officials foreign banking sources said
other forecasts prepared by the commission indicated a 18 pct 1988 rise in household purchasing power up from 11 pct this year but less than last years 29 pct and a 16 pct rise in household consumption compared with this years 15 pct and last years 29 pct
geo
much of that outflow has yet to be converted back into rupiah
bicc plc biccl 1986 year
the us should quickly discard its prejudice against favourable tariff treatment for chinese goods and admit china into the generalised system of preference gsp despite easing of curbs on us technology exports in recent years control of them is still extremely strict and influences normal trade between the two countries it added
stoltenberg told journalists before he attends next weeks international monetary fund meeting in washington that the strategy to stabilise currencies around current levels has proven its worth and will also determine future developments stoltenberg declined to comment specifically on what he would consider to be an undervalued dollar but said a dollar around 180 marks created problems for west germanys exports
west texas sour is also now priced at 1700 dlrs bbl and light louisiana south is posted at 1735 dlrs bbl
finance minister kiichi miyazawa told parliaments lower house finance committee that the us is expected to intervene in the foreign exchange market to stabilise exchange rates political sources said
general public utilities resumes dividends on common stock pays 15 cts
it said the sale price of 2533000 dlrs consisted of 700000 dlrs cash a secured promissory note for 1506000 dlrs and the forgiveness of a debt of 327000 dlrs owed by johnson products to debbies school
commercial credit ccc sells 10 year notes
the issue was announced on monday when it was widely seen as a move by the authorities to brake market optimism for a further uk interest rate reduction following the half point cut in clearing bank base lending rates to 105 pct earlier in the day
the companys stock last traded on the toronto stock exchange at 19 3 8
allied lyons sees substantial second half growth
several preliminary contacts with representatives of caesars have not resulted in any indication that it wishes to enter into such negotiations sosnoff said
this summer could be a good season for selling gasoline hemminghaus said adding that the new company will be primarily a gasoline producer
exports of maize totalled 411 mln tonnes 374 pct up on a previous 299 mln
the hong kong economic journal last month quoted a spokesman of australian stock broker jacksons ltd as saying that barwon farmlands ltd an australian firm owned 30 pct by ariadne australia ltd was planning a filipino branch in order to buy the entire block of 381 mln shares
lieberman distributes prerecorded music video movies and other products
on completion of the share placements pratt group will effectively have 51 pct of batterys enlarged capital assuming exercise of all options it said
it was built to allow ecuador to resume exports of crude oil halted on march 5 by earthquake damage to its lago agrio to balao pipeline once that pipeline is repaired ecuador will exceed its opec quota in order to offset lost income and pay debts contracted with venezuela and nigeria since the quake ecuador mines and energy minister javier espinosa said
just after royal dutch rd they are seen as one of the highest grade refiners in europe he added
there was excitement a fall in the weekly treasury bill rate to 97 pct from 102 pct last friday might mean the bank had changed its mind
this tranche does not have a catch up provision the kidder officer said
pre tax profit 5132 mln guilders vs 5455 mln net profit 2853 mln guilders vs 2654 mln consolidated net turnover 668 billion guilders vs 640 billion net profit per 2500 guilder nominal share 1111 guilders vs 1033 taking into account one for three scrip issue last year final dividend two guilders vs same making total 350 guilders vs same
but growth prospects in 1987 remained weak and 1986 results are unlikely to be repeated in the current financial year
the january rise was largely seasonal reflecting an increase in currency in active circulation prior to the lunar new year
shr 12 cts vs 10 cts net 1683000 vs 1407000 revs 422 mln vs 288 mln 12 mths shr 83 cts vs 70 cts net 119 mln vs 100 mln revs 1603 mln vs 1265 mln note prior qtr and yr ended jan 26
that was partly offset by a 04 pct rise in the consumer price index which measures inflation the department said
ongpin says pins will revive baker plan
argentine grain oilseed export prices adjusted
senator defends us mandatory farm control bill
as previously reported etl moved into the market for monier shares last week taking its stake to 137 pct by friday
bankers prefer to view the stance taken by the british banks and other national groups as a matter of principal and burden sharing rather than as a pressure tactic to force the us banks to make up their share
miti has been moving hot and heavy throughout the industry to get things done said bache securities japan associate vice president peter wolffe
the issue is removed from creditwatch where it was placed with negative implications in january after loral said it planned to acquire goodyear aerospace corp for 640 mln dlrs
he said he had been in almost daily telephone contact with president corazon aquino particularly when the banks began to take a very tough stance on pricing
after the strong focus on the dollar yen rate in recent weeks up to the end of the japanese financial year on march 31 interest and activity was likely to switch dealers said
of this total 85 mln sdrs can be drawn over the next 15 months under a standby arrangement in support of the governments economic and financial program
ecuador seeks 450 mln dlrs in emergency credit
unilever fragrance unit has lower 1986 earnings
the three buick oldsmobile cadillac plants that will be idled are located at wentsville mo
growers fear they may find more empty pods and have to further reduce their forecasts of total yield
texaco incs oil and gas reserves declined in 1986 despite reduced production and upward revisions in the companys previous reserve estimates its annual report said
feedlots are not falling behind and are holding that 100 pct marketing pace
fed says it offers to buy all coupon issues
diamond shamrock r and m said it raised its crude oil contract prices by 50 cts a barrel effective june 17
the underwriters are drexel burnham lambert inc kidder peabody and co inc and salomon brothers inc
he told securities analysts that when the companys common dividend is resumed the initial rate will appear conservative to you by industry standards and in relation msus net income and cash flow our progress will determine how soon we can reinstate a dividend to our common stockholders he said the company last paid a common dividend of 445 cts a share in july 1985
talks in rio de janeiro wednesday involving labour minister almir pazzionotto seamen and employers failed to resolve the dispute
the recent remark by us treasury secretary james baker that the paris accord did not set any target ranges for major currencies has cast a shadow on the agreement said koji kidokoro general manager of mitsui bank ltds treasury division
panic also said he intends to seek board approval today to repurchase up to three mln icn common shares
the us no
turnover despite losses in guilder terms due to weaker foreign currencies rose by 44 pct to 67 billion guilders
federated department stores inc said it raised its quarterly common stock dividend to 74 cts a share from 67 cts an increase of 105 pct
part of its stake is in options
the eiu said it saw oil prices dropping to around 1650 dlrs a barrel by end 1987 and 1550 dlrs in 1988 from about 18 dlrs last year as adherence to opec output policy becomes increasingly ragged
conditions are generally good and the average sowing date for the crop is expected to be around april 11 against april 23 last year and a 10 year average of april 14 the spokesman added
the emirates industrial bank has predicted a modest economic recovery in the gulf arab states following higher oil revenues
japans lipc to buy beef on april 23
residents in the copperbelt contacted by telephone said government forces had set up roadblocks around the main towns
when other banks sought funds rates rose and large banks were able to place excess funds on deposit at a considerably higher average return
it also bid for all corona warrants expiring aug 31 1987
south carolina national corp scnco 3rd qtr
with japanese insurers eager to issue more bonds through overseas financing companies chiyodas rating will stimulate their interest in using the us agencies the analysts said
in 1986 it repaid a record 597 billion in capital and interest reducing its overall debt by 996 mln dlrs
forstman little and co said it plans to sell its sybron corp unit a leading maker and marketer of dental and laboratory products for an undisclosed sum
the accord was reached between producers and consumers of the 35 member icco council after two weeks of talks
the company gave no details
six are to load 186000 tonnes of wheat for the soviet union
after restatement net income was 398 mln dlrs
in a separate announcement the company said it received confirmation from the european patent office that sonex successfully defended its beta european patent from a competitor
datacard corp said it adopted a dividend rights plan in response to deluxe check printers inc dlx having agreed to sell its 38 pct interest in datacard to national computer systems inc nlcso datacard declared a dividend distribution of one preferred stock purchase right on each outstanding share its common stock
under terms of the february 10 agreement oii paid 6050 dlrs per common share and 363 dlrs per 475 dlrs convertible preferred share
the fed clearly indicated that they did not intend to tighten policy when they did todays coupon pass said joseph liro of sg warburg and co
the pay dispute went before a hearing of the arbitration commission today
lerner said he has no intention of influencing ameritrust management or its policies
thai trade deficit widens in first quarter
it said cumulative roastings for calendar 1987 now total 4440000 bags compared with 4540000 bags by this time last year
gkn 1986 pretax profit 1324 mln stg vs 1327 mln
suralco bauxite refinery reopened
taiwans surplus with the us hit a record 136 billion us dlrs in 1986
calny inc said its board rejected as inadequate the unsolicited offer by pepsico inc pep subsidiary taco bell corp for all calnys outstanding common stock at 1150 dlrs cash per share
agency reports 41 ships waiting at panama canal
reagan lifted 51 mln dlrs of the sanctions last june after japan ended selling the semiconductors on the us market at below production costs
the department also revised up the march personal income rise to 03 pct from a previously reported 02 pct
the stocks usage ratio of seven major oils is also expected to decline mielke said
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
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the bank is the latest to cut prime rates in recent days following a continuing decline in market rates
however british officials in london have said that the government may have gone too far in implying that it would take immediate drastic action unless the contract was reopened
zimbabwe maize output to fall 65 pct
shr profit 29 cts vs loss six cts net profit 645000 vs loss 118000 sales 7802000 vs 4330000 1st half shr profit 58 cts vs profit 10 cts net profit 1255000 vs profit 212000 sales 145 mln vs 8912000 avg shrs 2183150 vs 2072779
world bank extends 241 mln dlrs in african loans
uk average earnings rose a seasonally adjusted 76 pct in the year to end january after a 74 pct rise in the year to december the department of employment said
nomura securities co ltd nmsct and daiwa securities co ltd dsect japans two largest brokerage firms are seeking a niche in the us and european securities markets while the countrys huge banks are looking for strongholds in overseas banking the takeover specialists said
he also said the the cabinet approved negotiations with foreign bank creditors to refinance 300 mln dlrs in banco de los trabajadores de venezuela btv debt with a re lending clause channeling back repayments through the state owned banco industrial de venezuela biv the btv refinancing carries an interest rate margin of 3 8 pct over eight years
the company added however that about 136 mln dlrs of the loss relates to discontinued operations and disposal of subsidiaries
software ag saga sees weak results
oper shr loss 19 cts vs profit one ct oper net loss 1495000 vs profit 50000 revs 523 mln vs 489 mln note earnings exclude gains from utilization of tax loss carryforwards of 82000 dlrs or one ct a share vs 300000 dlrs or three cts a share
bralorne resources in agreement with lenders
stone container said the convertible debentures redemption price is 106750 dlrs plus accrued interest of 3281 dlrs for a total of 110031 dlrs for each 1000 dlrs prinicipal amount of the debentures
meanwhile pagecorp said it agreed to grant gordon an option to purchaser 900000 class a shares at 925 dlrs per share which is exercisable only if gordon makes the acquisition bid before december 4 1987 or if any third party begins a takeover before december 31 1987
its almost an issue of sovereignty for the latin americans one iadb official said
but the countrys labour unions have called a general strike for wednesday to press for a suspension of the program
but the oecd backed the governments view that the underlying trend for inflation remained downwards this year with a slowdown in domestic costs taking over from last years fall in oil and commodity prices as the chief cause of disinflation
in the circumstances the government had only a slim chance of producing a meaningful economic package in the near future dai ichi kangyos tanaka said
in paris on february 22 britain canada france japan the us and west germany agreed to cooperate to hold currencies around their then current levels
shr profit 17 cts vs loss three cts net profit 14918000 vs loss 2732000 revs 748 mln vs 547 mln year shr profit 80 cts vs profit 15 cts net profit 716 mln vs profit 122 mln revs 2934 mln vs 2228 mln note 1986 fl yr net includes extraordinary gain of 563 mln dlrs from investment sales gain on share issue by 57 pct owned campbell red lake mines ltd crk and provision for decline in value of marketable securities
the customs department said thailand exported 21404 tonnes of coffee last year up from 20602 in 1985
payment is due april 30 1987 and final maturity april 30 1994
the bank of japan does not intend to ease credit policy further bank officials told 
several independent studies indicate the 1985 farm bill is better on balance than any of the alternatives being advanced kleckner said
shr 29 cts vs not given net 3508000 vs 2483000 note company went public in august 1986
the west german cocoa grind rose 29 pct to 55190 tonnes in the first quarter of 1987 from 53643 tonnes in the same quarter of of 1986 the bonn based confectionery industry association said in a statement
oper shr loss 227 dlrs vs loss 162 dlrs oper net loss 127 mln vs loss 121 mln revs 600 mln vs 262 mln year oper shr loss 516 dlrs vs loss 156 dlrs doper net loss 290 mln vs loss 124 mln revs 1393 mln vs 1100 mln note 1985 operating losses exclude profits of 195 mln dlrs or 264 dlrs a share in quarter and 206 mln dlrs or 274 dlrs a share in year from discontinued operations 1985 loss in both periods includes pre tax charge of 169 mln dlrs on write down of oil properties
there are wide areas of agreement
oesterreichische kontrollbank ags 100 mln canadian dlrs of nine pct guaranteed eurobonds due 1997
the increase brings the prices for two pct sulphur to 1925 dlrs up 50 cts 22 pct sulphur to 1875 dlrs up 50 cts 25 pct sulphur to 1850 dlrs up 50 cts 28 pct sulphur to 1825 dlrs up 75 cts the company said
shr 67 cts vs 23 cts net 5220000 vs 3143000 revs 2361 mln vs 2562 mln avg shrs 78 mln vs 137 mln six mths shr 85 cts vs 59 cs net 8919000 vs 8158000 revs 4838 mln vs 5155 mln avg shrs 104 mln vs 137 mln note fiscal 1987 second quarter and first half earnings include a gain of 34 mln dlrs and exclude preferred dividend requirements of five mln dlrs in the quarter and 56 mln dlrs in the first half
monetary sources said alfonsin and camdessus who had not met before mostly discussed argentinas political and economic situation
she added the company had no firm timetable on when a response might be received
hcf porsche ag pshgf said it expects to post a satisfactory profit in 1986 87 with domestic volume sales seen lower but us sales anticipated higher
the itc ruled provisionally last june 18 that the domestic industry was being injured by brazilian orange juice imports
symbion inc said warburg pincus capital co lp began a tender offer to purchase up to 25 mln shares or about 33 pct of symbions shares at 350 dlrs per share
baker communications inc bakr year loss
standard and poors pointed out that general motors corp gm chrysler corp c and nissan motor co ltd nsan realized funding advantages by issuing car loan backed debt
white house discounts threat of trade war
the loan to be signed by the end of the month will be provided by a number of banks on a club basis
enserch inc is issuing 100 mln dlrs of convertible debt due october 4 2002 carrying an indicated coupon of six to 6 3 8 pct and priced at par salomon brothers international said as lead manager
the company said it made the earnings estimate in response to analysts forecasts which it said called for per share earnings of 24 cts to 30 cts and revenues of 29 mln dlrs to 32 mln dlrs
henley hengo has venezuelan refinery project
hbo hboc urges shareholders against andover
opec crude oil output in the first few days of march was running at about 147 mln bpd down from a 16 mln bpd average for february and well below the 158 mln bpd ceiling the group adopted in december a survey shows
he said the company has improved its debt to equity ratio and wendys owns a high percent of its own restaurants 38 pct of 3500
he told a press conference that in confirming the commissions earlier announcement of unchanged tolls for 1988 he was not necessarily implying there would be a rise in 1989
josef koerner chief economist of the west german ifo institut said in a newspaper interview he expected 1987 tax revenue to be some 11 billion marks below estimates by the west german government in november
dealers said payments by the dutch state partly in the form of civil service wages had outweighed payments to the state causing the money market deficit to ease
french jan m 3 money supply rose prov adjusted one pct o7 pct fall in dec official
the dispute originally was about wage rates and the form of industry negotiations
prices had been unchanged in january giving an annual drop of 46 pct
it was due to amortize 105 billion dlrs under the rescheduling and pay 420 mln dlrs in non restructured principal both public sector
usx corp chairman david roderick said the company had ended talks with british petroleum co plc bp about the possible sale of some energy assets and said usx has no immediate restructuring plans for its oil businesses
the real question is how broad the valley is is it one year two years or three years before we start to climb out jc walter of walter oil and gas corp said the recent improvement in oil prices was not enough for independent producers to begin new onshore drilling projects
the bonus was awarded to the pillsbury company
under the 1957 treaty of rome all contracts and agreements signed by the community must contain this territorial clause stipulating west berlin is an integral part of the ec
the gilt market lost nearly half a point as enthusiasm about mays 64300 fall in the seasonally adjusted unemployment rate to 295 mln or 106 pct of the workforce was rapidly replaced by dismay at the continued high level of underlying average earnings in april dealers said
cash proceeds from both sales will be used to reduce outstanding debt
about 15000 miners attended a rally here to endorse moves proposed by last weeks annual meeting of the 200000 strong national union of mineworkers num they also supported a proposal for a national strike at the end of this month if the owners refused to begin negotiations
theres a deflationary force coming down the mountain and i dont know whos going to be rolled over de vries said
he said his department aims to accelerate its privatisation program and the sale of non performing assets owned by associates of former president ferdinand marcos to achieve a 1987 sales target of four billion pesos which would help finance land reform
endotronics inc said it expects to incur substantial losses for the second quarter ending march 31 and fiscal year ending sept 30 1987
our contacts with the ec authorities over the past few days indicate that we are moving towards a solution he said adding that if this happened the producers would withdraw the 854000 tonnes of sugar they have offered into intervention
the dividend payments on the shares amounted to 1045000 dlrs per year the spokesman said
magic years child care and learning centers inc said it signed a letter of intent to acquire three profitable day care centers in south central pennsylvania for a total price of 350000 dlrs
penril said shareholders at the annual meeting approved the limitation of directors liability
the central bank made outright purchases of bank bills comprising 100 mln stg in band one at 9 7 8 pct 56 mln stg in band two at 9 13 16 pct 112 mln stg in band three at 9 3 4 pct and 16 mln stg in band four at 9 11 16 pct
because of the rating cut to ccc plus from b minus the underwriter halted sales and repriced the issue
webb investment properties inc
tax forms will look very different next year he added
the dollar will fall more but the current account deficit will stop being reduced when it reaches its structural core he said
rubbermaid inc rbd 1st qtr net
austec ails complete purchase of private firm
the bank sold 17 billion francs of floating rate 1999 tap stock at an average price of 9706 pct giving an average spread of 039 percentage points above the 13 week treasury bill reference rate little changed from the 040 point spread at the last offering a month ago
shr 87 cts vs 87 cts prior qtr pay may 15 record april 20
canadian foremost ltd year net
the retention plan for the 52 top officers will pay an average bonus percentage of 28 pct of salary it said
the dollar was initially stabler but most dollar straight bonds were static in dull trade
peat marwick an accounting and management consulting firm and nolan norton and co an information and technology planning concern said they have merged
the sources added that volcker for his part is dissatisfied with some major banks refusal to make interest rate concessions to brazil and other latin american debtors and would like to see smaller creditor banks take a more actve role in the rescheduling process
homestake mining co is considering acquiring more gold ore reserves in addition to the companys exploration efforts chief executive harry conger told in an interview
discussion of the plan was likely to be long and difficult the sources said
he said the explosion and fire in which one worker was killed occurred when the hydrocracker was not in operation
one month maturity rose 1 16 point to 6 3 16 pct two month 1 8 point to the same level and three and six month issues 3 16 point to 6 1 4 pct each
pointing to the record 48 billion stg rise in uk may currency reserves announced today he said we have been playing a very full part ourselves we have been intervening to a very much greater extent than we had done hitherto lawson said there was a risk that the louvre agreement may falter if member states did not implement the macro economic commitments underlying the accord
chrysler said the stock dividend is payable april 13 to holders of record march 23 while the cash dividend is payable april 15 to holders of record march 23
in addition ranks hovis will make a further cash payment of 20p per avana ordinary
viacom was created in 1970 and spun off from cbs inc cbs the company has 940000 cable television subscribers operates nine satellite television services and owns television and radio stations
four cargoes of raw sugar were sold to china yesterday via the london trade to supplement the countrys current nearby buying programme traders said
they are like oil and water he said
on site production is rendered expensive by the high price of imports of essential ingredients
the average payment per employee was more than 2100 dlrs compared with 1200 in 1985
owens illinois oi extends brockway brk offer
american nutrition operates a chain of stores sellings vitamins and health products
it did say the offer for the companys stock will be conditioned also on the valid tender of securities representing at least a majority of the voting power for the election of directors of the company and the valid tender of at least two thirds of the outstanding cumulative preferred and convertible preferred shares
duffour et igons capital is comprised of 133100 shares with a nominal value of 100 francs each
after holding prices for nearly nine months the plan was unable to withstand the inflationary pressures of booming consumer demand and widespread shortages
fidata corp fid 4th qtr loss
lukman said that some industry reports may be correct that in february nigeria propuced 75 100000 bpd below its 1238 mln bpd quota saudi arabia 500000 bpd less than its 4133 mln allocation and qatar 20 to 30 pct under its 285000 bpd quota
analysts said that in the light of the reaction to the budget in the gilts and uk money markets uk commercial bank base rates are likely to be cut by as much as a full point tomorrow
the company also cut its staff to 820 employees at the end of 1986 from 2500 a year earlier
freedom federal frfe to recognize gain
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
alcan australia lifts aluminium ingot price
us consumer instalment credit rose a seasonally adjusted 536 mln dlrs in january after a revised rise of 144 mln dlrs in december the federal reserve board said
the consumer rice price is usually set in december
the dividend was lower than in 1985 because the record profit of the previous year could not be repeated due to changed market conditions it said
economy ministry figures show exports rose to 49 billion dlrs in the first 11 months of 1986 from 41 billion in the same
realty south investors inc rsi year net
international lpg prices were mixed in the past week with north sea prices easier while prices in the mediterranean and the gulf were up in april traders said
the bank of england said it drained liquidity from the money market when it sold 167 mln stg of treasury bills due march 27 at rates between 9 9 16 and 10 pct
norwegian companies landed operatorships on all six blocks opened in the barents sea area off northern norway
okb issues 100 mln canadian dlr bond
the company said it may move alloyteks plant from grandville mich to a lower labor cost area
even though the petrobras statement said the seamens strike was over a union spokesman said only two small shipping companies had reached a pay agreement
other timecharter fixing included a 14000 tonner from indonesia to the us gulf at 2800 dlrs daily and a combined carrier of 75000 tonnes dw from the us gulf to italy at 9000 dlrs daily
the swiss franc firmed to 11986 marks per 100 at the fix from 11971 yesterday and the yen rose to 1244 marks per 100 from 1243
the us currency traded within a 145 basis point range in europe touching a low of 17940 and a high of 18085 marks
the main drop will probably come in july she expects todays estimate will be 126 mln boxes
it also created four new positions for chairmen of its operating divisions
the centre right administration had made economic growth reform a priority in its 17 months in office
they said brazil the banks biggest customer was asking for two billion dlrs for the financial year starting in july including 500 mln dlrs for the energy sector
nazer in his first interview since succeeding ahmed zaki yamani last october said i do not foresee any need for new measures before the 25th of june when our next opec meeting will take place as scheduled nazer said opec was producing below 158 mln bpd and all members were abiding by its agreements
bankers had hoped that this time they could secure an even larger repayment of around one billion dlrs
that meeting was called to act on a merger agreement calling for a buyout by bcw acquisitions inc
the issue was lead managed by deutsche bank capital markets dbcm and guaranteed by deutsche bank itself
the new offer the second sweetened deal redstone has proposed in his month long bidding war with management also contains newly drawn up proposed merger documents he said
today however the pound hardly moved on the reserves news dipping on its trade weighted index against a basket of currencies from 731 pct of its 1975 value at 1000 gmt to 730 pct at 1100 gmt half an hour after the figures were released
traders said cattle prices advanced at midsession as rumors circulated that the lockout was ending and gains were further fueled by a noticeable increase in demand for live animals on cash markets in nebraska and the texas panhandle
he said that so far no meeting of the seven nation ministerial differentials committee had been scheduled and that such a meeting now twice postponed was not a high priority for opec at the moment
mexico recieves first 250 mln dlrs of japan loan
official figures show that forward us dollar sales in may reached a record of almost six billion us dlrs against 59 billion in april
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting
the company said normal paul a member of the private investment group will head hudsons bay wholesale management
as saudi arabia attempts to shift the weight of economic development from the public to the private sector one of the biggest tasks will be to convince businessmen to channel personal savings into industrial projects within the kingdom and refrain from the temptation to invest abroad
the coupon is expected to be around five pct daiwa said
the bond equivalent yield on three month bills was 617 pct
the prospect of rising dependence on oil imports from the gulf and the recent revelations of the tower commission report mandate more than ever before the need for a fundamental reassessment of us interests in the middle east ebinger said
there is some reluctance to trade with texaco but no great change said another trader adding that traders are tending toward prudence in their dealings with the company
the acquisitions are subject to approval by holder shareholders and the federal communications commission
president jose sarneys government has repeatedly refused to approach the fund arguing that an imf programme would lead to recession
japan denies breaking semiconductor trade pact
it is designed to work with most personal computers including those made by international business machines co ibm brilliant said there will be a one time set up charge of 1000 dlrs for the software which will cost 40 dlrs per hour to use
period ended april 30 shr 71 cts vs 42 cts shr diluted 62 cts vs 38 cts net 2629704 vs 1721384 revs 395 mln vs 320 mln
the first tranche matures on march 30 1992 and has an indicated coupon of 2 3 4 pct while the second tranche matures on march 30 1994 and has a fixed coupon of three pct
some european bankers however argue that capitalization of interest is already happening in practice and that the banks ought to face up to the fact and work with the debtors on longer term solutions that recognize that not all the interest can be paid back right away
singapore oil companies can set their own petrol and diesel prices at the pump from today subject to ceilings determined by their individual wholesale prices the ministry of trade and industry said
other months will stay unchanged at 70000 except the new distant february requirement which will be set at 70000 from march 2
gencorp agreed to sell rkos khj tv station to walt disney co dis for 217 mln dlrs
given their concerns over half those surveyed said they spend more time managing their portfolios
central bank governor chang chi cheng told reporters the reserves totalled about 69 billion us dlrs compared with about 42 billion at the same time last year and 68 billion on october 5
the firms are planning a joint venture production of memory chips in sendai northern japan
south korea has been under pressure from washington to revalue the won
currently there are only about 760 oil rigs operating in the united states compared with an average of nearly 2000 in 1985
chemlawn said its rights plan is designed to protect shareholders against abusive tactics such as market accumulations by waste management or others under the plan one comon stock purchase right will be distributed as a dividend on each outstanding share of chemlawn common
leading brazilian party supports moratorium
the company also said the two q blocks immediately offset other offshore blocks on which hydrocarbons have been found in commercial quantities
official sources in the delegations said the us views would be considered during the informal consultations but the europeans would also be free to bring up any complaints against american civil aircraft practices
over 785000 tonnes of this sugar was accepted by the commission on wednesday according to commission sources
in a wide ranging interview pinola said hes looking for ways to improve profitability and capital between now and 1991 so as to resist any potential look at us to maintain our independence if possible in 1991 federal regulatory changes will allow the major east coast banks to buy banks in california
earlier coleco reported a net loss of 1112 mln dlrs for the year ended december 31 compared to a profit of 642 mln dlrs in the year earlier
soybeans 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 acreage mln acres planted 615 615 631 611 harvested 594 594 616 616 yield bu 338 338 341 341 supply mln bu start stocks 536 536 316 316 production 2007 2007 2099 2099 total 2543 2543 2415 2415 soybeans cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage crushings 1130 1115 1053 1053 exports 700 700 740 740 seed feed and residual 103 93 86 86 total use 1933 1908 1879 1879 end stocks 610 635 536 536 avg price 460 480 460 480 505 505 note average price in dlrs per bushel
total demand at todays auction was 287 billion francs including 51 billion for the 850 pct 2002 tranche 1395 billion for the 850 pct 1997 tranche and 965 billion for the 1999 floating rate tranche
winnebago industries inc wgo 2nd qtr net
but he said the gilts market was likely to remain worried about the funding implications of recent intervention
unemployment in 1987 is put at 55 pct in line with last year the office predicted in its regular review
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
shr 42 cts vs 35 cts net 854000 vs 839000 revs 232 mln vs 219 mln
chase shares closed on friday at 441 dlrs and the options at 238
service corp international srv 3rd qtr net
figures from the banking information service showed personal sector lending by uk clearing banks rose by 166 billion stg in september after a 978 mln stg august rise
fees are 3 4 pct for selling and 1 2 pct for management and underwriting
the reforms follow several years of pressure by the us to stop competitors notably france and japan using foreign aid to subsidise exports putting us firms at a disadvantage
we have no leverage one official admitted
chase also said 50 to 60 pct of standard oils publicly held shares are held by financial institutions
it said the governments privatisation program has listed nmic at a price of at least 700 mln dlrs adding that foreign investors were wary of taking over the ailing nickel firm
standard and poors corp said it lowered 128 mln dlrs of brown group incs senior debt to a minus from a and commercial paper to a 2 from a 1
westinghouse electric corp 1st qtr shr 105 dlrs vs 88 cts
they said another problem that could hit the industry is the dry spell in producing areas
the two countries approached armed confrontation last month after greece announced it planned oil exploration work in the aegean and turkey said it would also search for oil
it said results of its other nursery and craft unit flower time inc are not affected
when the winds drop the ocean seeking equilibrium sends a surge of warmer water back across the pacific where it collides with the cold seas off peru they said
qtly div 22 cts vs 22 cts prior pay april 30 record april 10
todays announcement came before a departure later today of a 15 member taiwan delegation for washington for a series of trade talks with us officials
the ministers and governors reaffirmed the view that around current levels their currencies are within ranges broadly consistent with fundamentals last weeks statement read
prices for major metals expressed in real us dollars declined to the lowest levels in about 50 years it said
within this sector the output of both basic products and of food tobacco and alcohol fell 1 1 2 pct
the ghana cocoa board said it purchased 1323 tonnes of cocoa in the 21st week ended february 26 of the 1986 87 main crop season compared with 1961 tonnes the previous week and 1344 tonnes in the 21st week ended march six of the 1985 86 season the board said
tanker loading at the suez mediterranean arab petroleum pipelines co in sedi kerir southwest of here stopped and officials said five tankers were at anchorage awaiting improved weather
yeutter sees gatt consensus on farm trade reform
mexican officials led by finance minister gustavo petricioli signed a 100 mln dlr loan with the inter american development bank to help finance the promotion of foreign tourism
late yesterday the company said it has offered 707 dlrs per share for all gates learjet shares
the average effective interest rate on all loans closed by major mortgage lenders declined nine basis points from early february to early march the agency said
the tariffs will affect about 300 mln dlrs worth of products and are in retaliation for japans alleged failure to honour a semiconductor trade pact
diplomats said this reflected hungarys policy of keeping the sugar beet area stable under the current five year plan 1985 89 and producing enough to cover only domestic demand despite the recent rise of world prices to 10 month highs
its granite state electric unit plans to issue five mln dlrs of long term notes early this year as well
but he forecast its biggest industrial subsidiary steyr daimler puch ag sdpvvi would return a 1987 result similar to the expected 1986 operating loss of 700 mln schillings
jp industries said its proposed transaction would be financed through borrowings under its available bank lines and a bridge financing facility which donaldson lufkin and jenrette securities corp agreed to arrange
moreover baker the consummate politician was worried that the republican party might face next years presidential election with its main showpiece a vibrant economy badly tarnished
argentina has since last month been negotiating a 215 billion dlr loan with the steering committee for its international creditor banks to meet 1987 growth targets
it is based on reports which said kuwait has the ability to exceed its share
i would refer you to the paris agreement which was a recognition the currencies were within ranges broadly consistent with economic fundamentals baker told the cable news network in an interview
the daily auction was the biggest of the year and comes after the previous record set last june 6 of 1240 billion pesetas
the loan program offers borrowers home mortgage financing with no discount fees charged
analysts estimated the value at about 16 billion dlrs based on 385 mln shares outstanding
japanese firms now have long term contracts to import a total of 150000 barrels per day of saudi crude
oper shr 38 cts vs 562 dlrs oper net 400000 vs 6173000 revs 1195000 vs 392000 year oper shr 94 cts vs 565 dlrs oper net 1006000 vs 6257000 revs 2432000 vs 1121000 note 1986 operating net for the quarter and year excludes a loss on the disposal of certain businesses of 215 mln dlrs and a loss from discontinued operations of 297000 dlrs in the quarter and 469000 dlrs in the year
one trader most stocks in the group bounced off their lows by midday as investors took the news in stride
total natural gas reserves for both units declined to 10010 billion cubic feet in 1986 from 11334 billion cubic feet the previous year
this gave a year on year february inflation rate of 95 pct against 98 pct in january and 126 pct in february 1986
the bank of france intervened to buy small amounts of dollars and sell yen in paris today to stabilise the exchange rates agreed at last months meeting of finance ministers of the group of five and canada foreign exchange dealers said
firstbanc corp of ohio fboh 1st qtr net
loblaw said it plans to file a preliminary prospectus relating to the issue in all provinces of canada
argentina was granted a 19 year repayment at 13 16 points over eurodollar rates the same historically low spread that mexico won last october while the philippines which had insisted on a deal similar to mexicos restructured 103 billion dlrs of its 282 billion dlr foreign debt at 7 8
the department forecast argentinas 1986 87 soybean crop at 770 mln tonnes vs 770 mln last month
they said the 050 cent increase brings suns contract barge price to 49 cts
his amendment called for the government to sell gold coins and gold backed bonds with maturities of 30 to 50 years to investors to reduce the federal debt
uk money market given 40 mln stg late assistance
mcivor said that many of the large fields outside the us like alaskas prudhoe bay and the north sea were reaching a peak and would soon begin to decline
speculation is rising for either a june or an early autumn election political sources said
and if for some reason amr decides not to take the planes ges financial arm general electric financial services inc would have little trouble rounding up another airline that wanted the fuel efficient planes
under a february 21 deal bally agreed to buy 26 mln of the 306 mln shares held by trump at 24 dlrs a share or 624 mln dlrs while trump agreed not to try to seek control of bally
us securities group backs insider restraints
lewis davies said the measure might also aid the offshore construction industry which suffered a huge amount of lay offs under the price slump of more than 50 pct last year
the state tender of a new 625 pct eight year bullet indicates a week of active trading dealers said
fourth quarter exports fell to 622000 tonnes from 909000 tonnes a year earlier but this was because cuba was destocking at the end of 1985 they added
the us agriculture departments national agricultural statistics services nass said it will change its citrus estimate program for california and arizona starting in 1988
up to now the mining was done with antiquated methods and basic equipment the gold mine scheme is the latest in a series of moves by north korea to clear its debts to japanese creditors
piedmont currently carries baa 2 preferred stock and prime 2 commercial paper
japanese banks seen agreeing debt risk scheme
world group turnover comprised domestic sales 1083 billion vs 1080 billion foreign sales 2718 billion vs 3192 billion
copper prices should move up over the next four to six quarters said daniel roling of merrill lynch and co mer i see average copper prices at 70 cts a pound in 1988 up from around 63 or 64 cts based on tight supply and continued world economic growth other analysts see metal prices ranging from 65 to 68 cts a pound this year and 70 to 73 cts in 1988
eastman kodak co said it will reduce capacity and employment levels in two polyester fiber operations of its eastman chemicals division
state department spokeswoman phyllis oakley who made the disclosure about the tankers also told reporters the united states expects to conclude very soon a favorable arrangement with saudi arabia concerning expanded security cooperation in the gulf
a spokesman for the government controlled mining company said the countrys cobalt production fell 24 pct to 879 tonnes over the same period while cobalt sales rose 92 pct to 1734 tonnes
more
it said the offering is expected in mid may through a group of underwriters managed by first boston corp and montgomery securities
egpc officials say egypt can produce up to one mln bpd per day but production was cut when world prices plunged last year
mono gold mines inc said nim and co ltd partnership agreed to buy flow through shares with an aggregate purchase price of up to 300000 dlrs
morgan headed a syndicate that won the certificates in competitive bidding
unilever dipped 33p to 3275 in a generally depressed uk market
funaro and gros are today meeting british chancellor of the exchequer nigel lawson foreign secretary geoffrey howe and governor of the bank of england robin leigh pemberton
canadian money supply m 1 falls 291 mln dlrs in week bank of canada said
after that southmark said its common stock will be traded on an ex rights basis
in meetings with both the foreign and telecommunications ministers howard said he expressed deep concern about the way tokyo had handled the dispute and about the continuing trade imbalance between the two countries
the bank of england said it did not operate in the money market in the morning session
chase acquires 370 mln dlr revolving credit
bp says it will tender for remaining 45 pct of standard oil at 70 dlrs a share cash
nigel lawson britains chancellor of the exchequer said some countries may need to cut interest rates with the aim of maintaining exchange rate stability
brokerage firm ups stake in allegheny ag 
usda said the action was taken at the request of the bangladesh government and reduces the guarantee line authorized for wheat sales from 250 mln dlrs to 200 and creates a new line of 50 mln dlrs for vegetable oils
shr 10 cts vs 20 cts net 146000 vs 230000 revs 3766000 vs 3271000 avg shrs 1458000 vs 1125000 nine mths shr 15 cts vs 58 cts net 212000 vs 653000 revs 106 mln vs 9561000 avg shrs 1458000 vs 1125000
standard and poors corp said it cut to c from ccc minus michigan general corps 110 mln dlrs of 10 3 4 pct senior subordinated debentures due 1998
baker remarks aimed at confirming accord miyazawa
beneficial corp to sell insurance unit removing company from insurance business
the argentine pact contains several features that were not in the mexican accord such as exit bonds an option to provide new money via bearer bonds a trade facility onlending provisions and a debt equity conversion scheme
bundesbank leaves credit policies unchanged
this brings the banks total help today to 571 mln stg and compares with its estimate of the deficit in the system which was earlier revised down to 110 billion stg from 115 billion
sales grew 235 pct in the quarter to 3981 mln dlrs and 255 pct in the nine months to 136 billion dlrs
time tl in talks on cable news consortium
in a speech to a european community ec 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 but he warned that defense of the 18 dlr a barrel level had caused hardship for opec countries who had been forced to curtail production and he warned that such cutbacks by opec states could not be sustained in some cases
coffee futures drifted lower in response to a report that colombia lowered the price of its exports traders said
sorghum 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 yield bu 677 677 668 668 supply mln bu start stcks 551 551 300 300 production 942 942 1120 1120 total 1493 1493 1420 1420 usage mln bu feed 550 575 662 662 other 30 30 29 29 ttl domest 580 605 691 691 sorghum cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 exports 225 225 178 178 total use 805 830 869 869 end stocks 688 663 551 551 avge price 130 50 130 50 193 193 note price in dlrs per bushel
the ministry spokesman said he had no other details on the maize transaction
world oil supply fell through the first quarter by about two bpd to 452 bpd from 475 bpd in the last quarter of 1986
csr ltd csras and exxon corp xon unit esso exploration and production australia inc said csr has agreed to sell its delhi australia fund daf to esso for 985 mln australian dlrs
simex is likely to try to maintain its growth by moving into options soon but competition continues regionally as well as globally banking sources said
some dealers said rates on new liquidity injections added via bundesbank securities repurchase agreements may be cut next week
hoenemeyer testified that by the next meeting of the board february 17 hutton submitted a revised proposal which was accepted
the alternative was that if he did not congress would
japan to ratify 1986 international cocoa agreement
s and p said its profitability remains severely depressed
parts of the service sector are also threatened otsuki said
first quarter anchor financial corp shr 31 cts vs 31 nine months biomet inc shr 49 cts vs 36 federal co shr 355 dlrs vs 166 richardson electronics shr 59 cts vs 53 year eac industries inc oper shr loss 65 cts vs loss 97 cts fine art acquisitions shr 15 cts vs 10 mangood corp oper shr loss 607 dlrs vs loss 764
the companys 1985 production was 2050 ounces
the notes have a 7 1 2 pct coupon and an initial offering price of 99625 to yield 734 pct or 20 basis points over five year treasury notes
in recent years brazil has demonstrated its ability to generate surpluses sufficient to service its debt and i have no doubt that in due course it will reach an agreement with the banks and its other creditors libra managing director peter belmont said in a statement
great northern nekoosa first qtr shr 159 dlrs vs 54 cts
the value of exports totalled 802 billion marks a decline of 74 pct against the same months of 1986
the unit delivers mainly to the car industry
computer terminal systems inc said it has completed the sale of 200000 shares of its common stock and warrants to acquire an additional one mln shares to sedio nv of lugano switzerland for 50000 dlrs
shr 44 cts vs 54 cts net 429 mln vs 537 mln revs 9833 mln vs 8588 mln six mths shr 85 cts vs 111 dlrs net 831 mln vs 1098 mln revs 191 billion vs 166 billion
without spot supplies the high cost of system gas will threaten to drive away large customers capable of shifting to alternative fuels he said
uspci said its second quarter earnings would exceed analysts expectations of 24 to 30 cts a share
conrac corp said it has entered talks on its acquisition with several parties
next week mississippi river st louis 120 pct bid 127 1 2 offered up five points
greyhound g buys general motors gm bus unit
webb investment properties inc dwpao 
laidlaw transportation ltd said earnings per share for the current fiscal year should increase by substantially more than the 30 pct average annual growth experienced in the last four years
austria makes two billion schilling note issue
the cross field allowance relief on petroleum revenue tax prt announced by uk chancellor of the exchequer nigel lawson this week will favour smaller non prt paying fields according to stockbrokers wood mackenzie and co
the miti official said miti undertakes such surveys when exchange rates fluctuate widely
i hope never again to go through the trauma of 1986
ford f europe earnings up 71 pct last year
carl icahns bold takeover bid for usair group u has clouded the fate of piedmont aviation inc which was being courted by usair
shr 18 cts vs 13 cts net 2133000 vs 1384000 revs 141 mln vs 117 mln nine mths shr 49 cts vs 36 cts net 5657000 vs 3728000 revs 397 mln vs 318 mln
pay date is april 28
bolivian debt buyback plan said gaining ground
versar vsr to buy marietta ml unit
yeutter said the meetings scheduled next month in washington between reagan and prime minister yasuhiro nakasone will include some difficult items on the agenda japan has failed to implement two parts of a three part semiconductor agreement yeutter said
dollar general corp dolr qtly dividend
the initial dividend will be payable april 10 to shareholders of record march 31
this brings the scope of prt relief for research costs more in line with corporation tax relief measures and is planned to encourage general research into ways of reducing field development costs it said
acme precision has 1008857 shares outstanding
he said the ec strongly backed chinas application but others among gatts 92 contracting parties took a tougher line
it was unlikely the government would announce its decision on heidrun operatorship until after thursdays cabinet meeting and after discussing a proposed solution with both companies the sources added
us secretary of state george shultz said the 6000 billion yen economic package announced by tokyo last week went further than the us had expected
net borrowings were 20 pct of shareholders funds and the group had listed investments of 471 mln
treasury secretary james baker said massive new lending to debtor nations could actually increase their difficulties in the period ahead without protections
killearn properties inc kpi 3rd qtr net
the move was followed by a surprise sell out within minutes today of a bank of england one billion stg tap issue the second such issue in as many weeks analysts noted
if the united states is interested in selling its wheat then they must offer competitive prices and its up to the united states to decide how these competitive prices will be offered he said
the bill contains a provision implementing a 0 92 acreage reduction plan for 1986 wheat and 1987 winter wheat thereby making payments available to farmers who were not able to plant last years winter wheat crop because of flooding
it did not disclose the name of the company
county savings bank csba sets stock dividend
the dry fall damaged pastures the cold winter raised feed demands and a late spring would require longer off pasture feeding they said
a hutton official declined comment
eurofima launching 40 mln swiss franc notes
the 500 mln dlrs of 364 day bills were priced at an average 91712 dlrs against 91529 dlrs last week to yield an average 906 pct against 928 pct last week
representatives of the international wrought copper council iwcc and major copper producers have told the london metal exchange lme a clear statement of its forward strategy would lead to a better understanding between industry and the lme
this total includes shares issuable upon conversion of piedmont preferred usair noted
colombia will continue to export its traditional amount of coffee between 96 and 10 mln bags of 60 kilos and will do so without an agreement among producers he said
brazilian labour unrest spreads many banks shut
marine corp mcrpo 3rd qtr net
liebert corp lieb approves merger
an agriculture ministry survey has estimated the nations 1986 87 crop sugar cane output at 214 mln tonnes down from 262 mln a year earlier
in a filing with the securities and exchange commission the edelman group said it sold 103000 lucky stores common shares on march 9 and 10 at prices ranging from 28625 to 30375 dlrs a share
new leader coming to us sec in challenging era
cepe manager carlos romoleroux told reporters that ecuador would begin pumping an unspecified amount of crude in northeastern jungle oilfields at the end of next week in preparation to send the oil through a new pipeline link up to neighbouring colombia
ottawa also is seeking to change some of washingtons rules on government procurement that penalize canadian businesses he said
boston bancorp sbos sets two for one split
shr 73 cts vs 103 dlrs net 10245000 vs 12364000 avg shrs 13981024 vs 11968524 assets 607 billion vs 522 billion loans 292 billion vs 245 billion deposits 478 billion vs 414 billion note gain from sale of securities 46 mln vs 128 mln
polish farmers will receive price rises ranging from 134 pct for some crops to 233 pct for meat from july 1 the finance and agriculture ministries said
lower edible oil prices added to the decline
this delicate question was not resolved at yesterdays meeting but lawyers from both sides will try to draft suitable language for a telex by midweek gros and the bankers said
subscriptions are to be placed with societe generale oolders en de jong cv or haighton en ruth bv a global note for the issue will be deposited with the dutch central bank
servotronics inc said it declared a 10 pct stock dividend payable may 15 to shareholders of record april 21
however us officials said a chief purpose of baldriges visit would be to discuss relaxed us rules for transferring modern technology to chinese industries
cargill uk strike talks break off without result
they said the voluntary restraints were aimed at averting ec sanctions urged by european computer makers
toyot belong to both
harcourts may 26 announcement said the conversion price would be adjusted according to the indenture covering the securities
peabody holding co inc said it has completed its acquisition of substantially all eastern gas and fuel associates efu coal properties for 1501 pct of peabody holdings stock
the marginal rise reflected slight growth in demand for poultry raising and a moderate increase in demand for beef cattle raising ministry officials said
the use of generic in kind commodity certificates has helped ease storage problems and is a necessary part of export promotion programs a senior executive for the worlds largest grain company said
it is what the markets think would be the adverse consequences of a trade war he said the administration was concerned that protectionism would lead to international trade problems adding that he thought the action against the japanese was still consistent with this policy
local currency m3 rose 36 pct to 28036 billion dlrs from december when it was up 34 pct from november for a rise of 163 pct on the year
earlier the employers had put the figure at around 30 mln
in our opinion bils actions are clearly not designed to be in the long term interests of either progressive or rainbow shareholders hawkins said
indonesia protests against ec vegetable oil duty
standard and poors said that currently 17 finance units benefit from parent relationships by receiving higher ratings than their financial performance alone would merit
the ruling was an important victory for the oil companies and the reagan administrations controversial off shore leasing program and a setback for two small alaskan villages that challenged the leases by claiming damage to the environment
electroperu would also to submit a plan within 60 days to reduce its costs
the economy will bounce back more strongly than many expect brusca said
however amstutz added that the united states would not be willing to discuss wheat prices with moscow if the issue is being cheap asked later by a reporter what he meant by the distinction between competitive and cheap amstutz would not elaborate
lebanons bankers association said it extended its suspension of trading in the lebanese pound for two more working days to study ways to stem the currencys collapse
talks due today between management and unions to try to end the strike at cargill uk ltds seaforth oilseed crushing plant have been rescheduled for thursday a company spokesman said
but 80 pct of the sample said support for a fee could grow if production continued to fall and imports to rise
that change was made after the agency rated the notes on february 20 s and p stated
the maximum cost of the acquisition would be 6209 mln stg
hoechst invest nv a dutch finance subsidiary of hoechst ag of west germany is issuing a 130 mln swiss franc five pct bond lead manager credit suisse said
however following his speech herrington told that the new report shows an oil import fee is not economical herrington said for example a 10 dlr per barrel tariff on oil imports would cause the nations gross national product to drop by as much as 32 billion dlrs
among the credit categories auto credit fell in january to 102 billion dlrs from 206 billion dlrs in december the fed said
the commission riposted by signalling that it would sell the sugar sold into intervention back onto the ec market by tender a move that would push down prices
ecuador has trade surplus in first four months
shr loss 83 cts net loss 2115000 revs 1396 mln avg shrs 36 mln note company went public february 1986
the lay offs represent about two thirds of the original workforce
but the scheme had received a guarded reception from the social christian parties in belgiums centre right coalition when verhofstadt unveiled it at a cabinet meeting yesterday
the notes are non callable for five years
air products and chemicals inc apd 4th qtr net
international game technology said it filed with the securities and exchange commission a registration statement covering a 35 mln dlr issue of senior notes due 1995 and a 25 mln dlr issue of convertible senior subordinated debentures due 2002
analysts said phelps dodge corp pd will be a strong performer because it is the largest us copper producer
the debentures have an 8 3 4 pct coupon and were priced at 99784 to yield 120 basis points over the off the run 9 1 4 pct treasury bonds of 2016
copper shipments are likely to be delayed because of power problems at philippine associated smelting and refining corp pasar the countrys only smelter a company official said
simex is also enjoying record trading in other contracts
the central bank also announced the auctions would be fortnightly not weekly beginning on april 2
new zealands official foreign reserves fell to 715 billion nz dlrs in january from 720 billion dlrs in december and compared with 303 billion a year ago period the reserve bank said in its weekly statistical bulletin
on the other hand anything neutral would tend to be bearish for the dollar mills said
belgian inflation could stabilise at 15 to 20 pct while the current account surplus will probably remain large at about three pct of gdp
digital communications dcaio buys fox unit
mees put saudi arabian output at 29 mln bpd in the first week of march and 31 mln bpd in the second in addition to output from the neutral zone between saudi arabia and kuwait
uk money market given 17 mln stg early help
earlier traders in paris said they expected the commission to award licences for around 50000 tonnes of white sugar with a maximum export rebate of 4575 to 460 ecus
the domestic economies of the major trading partners of the us may deteriorate to such an extent that they will be forced to ease thus paving the way for a more accomodative us credit policy added john michael analyst at first options of chicago
the announcement sent investors today scrambling for gm shares with more than 32 mln shares changing hands by mid day
natural gas exports fell 163 pct in the month 251 billion cubic meters and canadian sales eased 102 pct to 525 billion cubic meters
he said he did not think japan would retaliate
the growers and traders also said that under new buffer stock rules malaysia can continue to benefit even if it is not a member of the pact as the buffer stock manager is also allowed to buy from non members for the stockpile
iu international co said it reached a preliminary agreement to sell the hawaiian insurance cos to hawaiian electric industries inc
the pivot was the 18th ship hit this year in the maritime extension of the 6 1 2 year old iran iraq war
bundesbank president karl otto poehl said a weaker dollar would be risky and a further appreciation of the mark would damage prospects for sustained west german economic growth
the state run ecuadorean state oil corporation cepe has named jaime sanchez valdivieso as its new general manager replacing carlos romo leroux a cepe spokesman said
miyazawa says paris accord helping stabilise rates
the package announced earlier this week will raise commercial bank statutory liquidity ratios to 375 pct from 37 pct effective april 25 and will increase cash reserve ratios on foreign currency non resident accounts to 95 pct from three pct effective may 23 it said
it will continue through march and april but he expected the situation would later improve
the us agriculture departments economic research service recently published a study of farm subsidies in an attempt to verify the oecd results and update them to 1982 84
at least two fixtures were reported on soviet account to lift ec grain with a 22000 tonner booked from tilbury for a voyage via lower baltic sea and redelivery passing skaw at 4000 dlrs daily and a 27000 tonner from ceuta for a voyage via the uk and redelivery skaw cape passero at 4500 dlrs daily
she said despite introduction of several new gold bullion coins on the market recently the mint is aiming to preserve the eagles strong market share with extensive publicity
a spokesman for the bank said the capital bonds were subordinated and had an average maturity of 105 years
they also said the ec would be in breach of an undertaking not to bring in new protectionist measures during the current punta del este round of world trade negotiations being held under gatt general agreement on tariffs and trade auspices
the 18 dlr figure is based on a basket of six opec and one non opec crudes
no intervention dollar fixed at 18162 marks
he said these are needed especially when prices fall citing declines in west german share prices in the first two months of this year when stock indices fell about 20 pct
taiwan clamps new controls on currency inflows
the group cyacq acquisition corp also said it extended the offer until april three from march 20
argentina expects quick agreement with banks
reebok will sell three mln shares and pentland will sell 1404866 shares reducing its stake in reebok to 181 mln from 195 mln shares
ameron inc amn qtly dividend
of those paying higher prices now the average increase was put at 25 pct
market analysts today said the other two firms are believed to be foreign oil companies noting that transcanada yesterday stressed that its bid is a canadian solution to the financial difficulties of dome petroleum the talk is about conoco which is controlled by dupont dd and atlantic richfield co arc which sold its canadian interest in 1975 and could be getting back in said wilf gobert of peters and co ltd
abidjan port activity rises
an interagency committee is reviewing the industrys draft petition
mtech corp said it has received 33467 shares of commercial resources corp in response to its 1025 dlr per share tender offer for all 150000 shares
the placer development ltd offshoot which operates australias largest gold mine in north queensland earlier reported net profit rose to 6050 mln dlrs from 5076 mln in the 1985 period of 10 months from the start of production
current year net excludes tax credits of 1381000 dlrs in quarter and 1722000 dlrs in half
congressional observers say the bills are aimed mainly at japan taiwan south korea and a few other nations with large annual trade surpluses with the united states
net 128 mln vs 122 mln loans 28 billion vs 25 billion deposits 32 billion vs 29 billion assets 45 billion vs 38 billion note american national corp is a wholly owned subsidiary of first chicago corp
it said the governments current budget did not permit it to provide sustained and adequate relief to those affected
comparable store sales rose 55 pct in 1986 over 1985 it said
1987 results include a first quarter non recurring charge of 7 mln dlrs with an after tax impact of 11 cts per share attributable to the write off of the remaining assets acquried from computer pictures corp in november 1982
shr two cts vs nil net 20406 vs 2348 sales 6191000 vs 6249000
alusuisse made a net loss of 688 mln swiss francs in 1986 after a restated 756 mln loss in 1985
the move will provide long term stability to ensure continuity of overall control of the hutchison group in that it provides hutchison with a stable framework within which management development and the planned growth of the groups businesses can take place it added
as reported separately soon after announcing the delhi sale csr launched a takeover bid for the 6826 pct of pioneer sugar mills ltd that it does not already hold valuing its entire issued capital at 2196 mln dlrs
armstrong tire co an armtek unit will continue to sell replacement industrial tires the company said
it said generally favorable weather from early december through february helped compensate for earlier dryness
dasa corp dasa year net
while its production was down venezuela nigeria and kuwait loaned ecuador a total 12 mln barrels of crude and four mln barrels of products santos said
however he said not enough financial details are known about domes debt restructuring to compare the value of transcanadas proposed offer
there is no way out but to raise the subsidy levels of meal
producer delegates said there was no sense of urgency among producers to reopen quota talks with consumers with most countries now prepared to wait for the icos annual september council session to restart negotiations
us housing starts rose 44 pct in september to a seasonally adjusted annual rate of 1669000 units the commerce department said
ended feb 28 shr 39 cts vs 35 cts net 115 mln vs 104 mln revs 1110 mln vs 1046 mln nine mths shr 116 dlrs vs 104 dlrs net 343 mln vs 308 mln revs 3352 mln vs 3200 mln avg shrs 267 mln vs 296 mln
the report urged australia to broaden its export base by developing viable and competitive service and manufacturing industries and not count on a recovery of commodity markets to correct its external imbalances
we strongly urge our shareholders not to tender their shares to waste management said chairman l
the cooperation agreement has resulted in concerted central bank intervention of 8 billion to 9 billion dlrs to halt the dollars fall
toyo trust and banking co ltd is issuing a 100 mln dlr convertible eurobond due march 31 2002 paying an indicated two pct and priced at par lead manager toyo trust international said
but it said that total operating profits including own account trading rose 249 pct or 45 pct without the flick transaction in the group and 351 pct or seven pct in the parent bank
weve been sitting back and waiting on two federal administrations to develop a coherent energy policy for the nation to follow
belgelectric finance bv is raising 300 mln luxembourg francs through a five year non callable bullet bond carrying a 7 1 4 pct coupon at par lead manager banque internationale a luxembourg sa bil said
the cut follows announcements of cuts yesterday by citibank ltd to 1600 pct from 165 effective today and commonwealth bank of australia to 1575 pct from 1625 effective june 24
reliance electric unit to redeem debentures
afg industries inc afg quarterly dividend
armco shares trading off 1 4 at 10 today could go to 12 and possibly as high as 15 he said
the dollar opened lower against virtually all currencies and traded in a narrow range after the communique which reaffirmed support for the paris accord on currency stabilisation but contained no moves to strengthen it
he said negotiations with the steering committee for the countrys creditor banks in new york would not end next week
in its final report released earlier the company said the groups 1986 profits before allocations and taxes was 753 billion crowns compared with 1985s 760 billion
the us agriculture department said an announcement by the department yesterday concerning 150 mln dlrs in additional credit guarantees for exports of us commodities to turkey contained two inaccuracies
american stores asc sees lower year net
an additional 7199 head of dairy cattle are still available to egypt under the export enhancement program initiative announced september 12 1986 the department said
dart group corp dartao affiliate madison partners said that given current market conditions it has dropped its takeover bid for dayton hudson corp
italian gdp rose 24 pct in 1986 fourth quarter
net profit 510000 vs loss 5700000 revs 875000 vs 4100000 year net profit 871000 vs loss 4100000 revs 4700000 vs 141 mln
the report also decribes related manufacturing marketing administrative and technical resources that could be made avialable to a buyer
as a result of the transaction the company said it now owns 100 pct of the system in cincinnati
santa fe in its petition outlines an array of pro competitive agreements with other railroads which would preserve the economic benefits of the merger for the merged railroad and the public
among those ideas the official said were suggestions that commercial banks create a megabank which could swap third world debt paper for so called exit bonds for banks like regional american or european institutions
in the united states revenue in guilders from health and life insurance was lower
shr loss nine cts net loss 14 mln revs 630118 dlrs notedue to change in fiscal year prior 4th qth and year cannot be presented on comparable basis
commerzbank to acquire and float linotype
noting this point thomas said market fears at the end of last year of an m0 overshoot had now disappeared
shr loss 28 cts vs loss 32 cts net loss 2585000 vs loss 2885000 sales 276 mln vs 235 mln avg shrs 9352000 vs 9049000 1st half shr loss 63 cts vs loss 94 cts net loss 5867000 vs loss 8405000 sales 519 mln vs 437 mln avg shrs 9349000 vs 8966000 note prior year net includes tax credits of 1827000 dlrs in quarter and 5347000 dlrs in half
pentair inc said it has filed for an offering of two mln shares of cumulative convertible preferred stock at an expected price of 25 dlrs per share through underwriters led by kidder peabody and co inc and piper jaffray and hopwood inc it said proceeds would be used to repay bank debt incurred in the acquisition of mcneil corp last august
the country has an imf quota of 1371 mln sdrs 175 billion dollars according to the funds 1986 report
february housing starts were up 168 pct from 93554 in january when they fell 274 pct from a month earlier but rose 103 pct from a year earlier
he said the current oil price of some 18 dlrs a barrel might suggest a level of 74 on the bank of englands sterling index when compared with the indexs level before oil prices dropped from around the 30 dlr level
consumers and a splinter group of eight producers favoured redistribution of export shares using objective criteria which would likely have reduced brazils share
the opec president said producers such as kuwait venezuela and indonesia were having less problems with output than producers like his own country because they exported oil products
but redstone turned the situation into a spirited bidding contest which was capped by the announcement this morning that viacoms independent directors on behalf of viacom entered into a defintive merger agreement with national
sharp shareholders will be offered cash shares or a mixture of the two in settlement
shr 10 cts vs 14 cts net 191465 vs 193799 sales 7160945 vs 6576670 avg shrs 2000565 vs 1400000 year oper shr 33 cts vs 50 cts oper net 605725 vs 694785 sales 233 mln vs 221 mln avg shrs 1840692 vs 1400000 note 1985 year net excludes 30000 dlr tax credit
period ended september 30
the federal government said calmos systems inc will be given 3075000 canadian dlrs to join the european consortium eureka in a research project involving integrated circuit boards
there is going to be more rain for the next two three days he said
by the end of this year we should have an international protocol in place we can all be proud of us environmental protection agency officer bill long told reporters
genentechs stock closed at 58 5 8 on the new york stock exchange last night
atorino said his decision reflected mainly non operating factors and a recent gain in the share price
nugent also called for state lawmakers to exempt new wildcat wells from the state severance tax for up to five years as a financial incentive to explore for new oil reserves
a 20 pct rating would be assigned to issues of domestic banks
shr loss 33 cts vs profit 38 cts net loss 2359978 vs profit 2805389 revs 762 mln vs 618 mln avg shrs 7096886 vs 7392586
they dont have the same kind of money they used to have they find their whole deposit base eroding fernandez said
the company said it had expected higher revenues from the records conversion work but it now foresees revenues from southern bell work at about eight mln dlrs the same level as last fiscal year
the provincial government has increased investment in grain and taken effective measures to combat natural disasters this year the agency said but gave no further details
weston weston files convertible offering
buyers have backed away from bank paper
ferc said in a press release that the proposed policy statement estblishes an exception to the commissions general policy that take or pay buy out and buy down costs must be recovered through pipeline commodity sales rates ferc added that specifically in cases where pipelines assume an equitable share of buy out or buy down costs the commission proposes to permit the pipelines to recover the remaining costs through their demand rates it said it wanted guidelines for buying out and reforming existing contracts to help spread the impact of these take or pay costs in a responsible fair and equitable way
pre tax profit for 1986 rose to 1059 mln stg from 796 mln
paul volckers decision not to go for a third term as federal reserve chairman and the nomination of alan greenspan to replace him have revived deep concerns about the us ability to prevent a further dollar decline and stem rising inflation financial market analysts said
cts and dca also agreed to dismiss all pending litigation between the two companies except for one appeal pending before the us supreme court relating to the indiana control share chapter it said
1985 4th qtr and yr oper net excludes 6806000 dlrs or 128 dlrs per share and 5770000 dlrs or 109 dlrs per share respectively for equity in net earnings of spun off unit
fed adds reserves via customer repurchases
in the past this anchor was gold but the united states went off the gold standard because the global economy had vastly outstripped gold supplies
the stock split is payable april 30 to stockholders of record april 10 hanover said
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a fed spokesman said
in london the us was supported by the uk the netherlands west germany japan australia and new zealand on the issue of objective criteria us officials said
shr 32 cts vs 26 cts net 722000 vs 597000 nine mths shr 92 cts vs 69 cts net 2100000 vs 1500000 note full name of company is florida employers insurance co
shr 12 cts vs 34 cts net 787000 vs 2250000 revs 236 mln vs 236 mln nine mths shr 70 cts vs 106 dlrs net 4598000 vs 6974000 revs 731 mln vs 736 mln note share adjusted for three for two stock split in december 1986
many are watching the results of the first acquisitions
the notes can be converted into common stock at a price of 4235 dlrs per share
aluminum exports meanwhile decreased nine pct in the same period to 1511 tonnes from 1647 tonnes
under the new agreement venezula was also able to extend the term from 12 to 14 years and to lower debt payments in the 1987 89 period by 64 pct
since the six nation accord last month sterling has risen sharply adding almost five pct on its trade weighted index
bank of nova scotia to apply for tokyo listing
no formal talks have been scheduled yet among companies involved in a controversial proposal to merge two groups seeking to enter japans international telecommunications sector an official from one group said
shr three cts vs six cts net 54965 vs 106147 revs 2124983 vs 1915928 avg shrs 2206017 vs 1878438 year shr 14 cts vs eight cts net 302388 vs 157690 revs 7952360 vs 7495936 avg shrs 2139991 vs 2051178
oper shr loss 30 cts vs loss 25 cts oper net loss 2138000 vs loss 2312000 revs 993 mln vs 894 mln year oper shr loss 40 cts vs profit 47 cts oper net profit 4294000 vs profit 8793000 revs 3909 mln vs 3605 mln note excludes discontinued operations loss of 133 dlrs a share vs 535 dlrs a share in the quarter and loss 152 dlrs a share vs loss 1364 dlrs in the full year
spains finance ministry deregulated bank deposit rates in an effort to raise competition among banks and bring legislation into line with the european community ec a ministry spokesman said
haggard said barring any program changes commodity credit corporation ccc soybean stocks now at 385 mln bu will rise to 500 mln by the end of august
nvhomes lp said its board declared a two for one split of class a units payable to shareholders of record on april 20
aslk cger finance issues 10 billion yen bond
cocoa production and exports are forecast to rise steadily as the government develops cocoa plantations
iwc lifts 1986 87 world wheat coarse grain estimate one mln tonnes to record 1377 mln
vanzetti vanz increase of shares approved
cincinnati gas and electric co filed with the securities and exchange commission for shelf offerings of up to 13 mln shares of cumulative preferred stock and of up to 200 mln dlrs of first mortgage bonds
a friday rumor had put the number far higher
in the longer run he worries about what trade tensions and the dollars slide will mean for securities markets
the dividend distribution will be made march 31 1987 payable to shareholders of record on that date
dunhill holdings arranges 50 mln dlr stg program
in 1986 the european corn wet milling business had sales of 9141 mln dlrs operating income before overheads of 688 mln dlrs and associated headquarters overhead costs of 197 mln dlrs according to cpcs 1986 annual report
the termination is effective january 1 1988 the treasury said in a two sentence announcement
sheikh ali has said before that kuwait had the ability to produce up to 40 mln bpd
the stage i think is being set for a healthy constructive expansion without inflationary instability he said
it concerns a barclays bank managed loan to fertilizer company planter products inc said teofisto paterno chairman of the foreign debt committee
the five year bond for inspectorate international finance nv gives investors options on two separate warrant series a and b exercisable into participation certificates in parent and guarantor inspectorate international ag
since last december the banks have been allowing the company to postpone loan repayments while they try to find an overseas commodity company to make an offer for the firm
oconnors action came hours after a three judge panel of the 9th us circuit court of appeals in san francisco had blocked the merger until a dispute over union representation had been settled by arbitration
another move herrington said he will press anew even though it had been rejected earlier by the white house is to raise the fill rate for the strategic petroleum reserve to 100000 barrels a day from its planned 1988 rate of 35000
royal said the assets of the units it will acquire from transwestern are mostly gold properties
roderick said carl ichan who terminated an eight billion dlr hostile takeover plan for usx in january continued to hold a sizable interest in the company
electricite de france edf will make its first offering of euro commercial paper in the international market on monday edf chief financial officer daniel lallier said in a telephone call from paris
us subsidy levels also are increased by the 1985 farm bill which sharply boosted government deficiency payments to grain farmers and applied a marketing loan for rice officials added
dick van splinter president of fundamental brokers inc the largest of the four major government bond brokers here said he now has 45 firms using direct dealing screens up from 35 a year ago
quotas should end for crude throughput and gasoline output and oil tariffs should be abolished
he is a member of the united states iraq business forum a non profit group designed to promote commerce with iraq
cronus industries inc crns 4th qtr loss
also an earthquake in ecuador yesterday led it to suspend oil exports indefintiely and force majeure its shipments
analysts today would not venture to say whether another offer could be made but some arbitragers still held to the belief that the bidding could go higher
the fca and financially troubled farm credit system have in the past been ambivalent about the idea mainly because any farm secondary market established in the private sector which excluded the farm credit system would put the system at a competitive disadvantage and could be another financial blow to the system which has lost 46 billion dlrs in two years naylor and farm credit system officials have said
fed data released today were all in line with economists expectations and similar to the numbers of recent weeks
qtly div 14 cts vs 14 cts prior payable march 31 record march 16
as a result it said the estimated total cost of the planned smelter will be held to 450 mln us dlrs the low end of the range estimated in mid may while the cost of the first phase was cut to 150 mln dlrs from the projected 175 225 mln dlrs
the fire destroyed five giant tanks and threatened four others the shell spokesman said
us justice department reviews icahn usair filing
however if it is determined that certificates have caused the government grain stockpile to decrease the cost effect of certificates would be less
canada may begin monitoring steel flowing in and out of the country to determine if any steel is being illegally trans shipped to the us senior government trade officials said
swire plans bonus issue on higher 1986 profits
the faster growth of imports compared with exports this year and last reflecting buoyant private consumption meant that the contribution of the foreign payments balance to gdp would shrink in both years
the maximum reserve requirement allowed by law is 20 pct
nova an alberta corp chief executive robert blair expressed hope that dome petroleum ltd dmp remains under canadian ownership but added that his company plans no bid of its own for debt troubled dome
however kay told later that his reply to roberts was not based on any particular knowledge
qtly div 14 1 2 cts vs 14 1 2 cts prior pay june one record april 24
waste management inc said it amended its offer to buy the outstanding shares of chemlawn corp to 35 dlrs a share
merrill lynch uk executive charged by sec
american barrick resources corp said it sold two coal supply agreements and certain mining equipment representing substantially all of the assets of its two ohio coal mines to peabody coal co of kentucky
they were not good value for us but possibly so for someone else silas said
the departments estimates are based on april 1 crop conditions
as we all have heard this morning the president is fully aware of this situation subroto said
nakasone intervenes in microchip dispute with us 
federal realty investment trust frt in payout
however ultramar said it was optimistic prices would strengthen over the longer term
but administration and private sources agreed that if the reagan administration did decide to offer subsidized wheat to moscow it could take several months
the company said the boards approval included the dismissal of a protest by the baltimore based maryland alliance for responsible investing against ncnbs performance under the community reinvestment act
sunflower harvesting before the weekend rains reached 26 to 30 pct of the area sown in santa fe cordoba la pampa and buenos aires provinces
the number of maxtor shares to be issued will be determined by the average closing price of maxtor stock over the 10 trading day period prior to the day the acquisition becomes effective the companies also said
subscription closes march 23 payment is april 15
several dealers said the central bank intervened this afternoon when the dollar stood around 149 yen
crime control said it would use proceeds to pay its bank lenders approximately 286 mln dlrs representing about 87 pct of the principal amount of all its indebtedness to bank lenders
exchange rate bill clears us house panel
brazil debt poses thorny issue for us banks
they said the fed would supply the reserves indirectly via around 15 billion dlrs of customer repurchase agreements
last august cooper development combined its cooper biomedical inc unit and its cooper laboratories subsidiary with technicon instruments corp a company acquired from revlon inc rev a cooper spokesman said
these swaps arent a panacea but they do demonstrate how a creative free market can make progress in reducing the debt burden he said
revenues 1735 billion guilders vs 1727 billion
indeed in the first half hour after lawson completed his speech gilt prices soared about 1 1 2 points an extremely sharp gain in such a short period of time
the non callable bonds will be issued in denominations of one mln yen and will be listed in luxembourg
sahud said the plant with a capacity of 220000 tonnes a year would probably lose money again in 1987
us fed explores commodity basket index
reichhold rci raises some materials prices
us warships in the gulf two weeks ago protected a kuwaiti ship which sailed to bahrain with us arms for bahrain and kuwait
regulators also have criticized the industry citing quality problems and a needless overprescription of pacemakers
analysts said it would be difficult for evergo and the kadoorie family to cooperate because of different management styles
chicago pacific corp cpac offering of 150 mln dlrs of convertible subordinated debentures due april 1 2012 through an underwriting group led by goldman sachs and co
bank of zambia pays out foreign currency arrears
he said an involuntary buildup in inventories largely in autos will add to first quarter economic growth with consumer spending helping later
the fhlbb said victor federal savings was insolvent and its assets were transferred to a newly chartered federal mutual association with directors named by the fhlbb
sight deposits by commercial banks at the swiss national bank rose by 310 billion swiss francs to 1053 billion in the last 10 days of february the national bank said
such a move would tend to flatten the yield curve between short and long term rates which has become more pronounced since the bundesbank lowered its discount rate
bob matsui a california democrat
hitachi ltds hitt april output of 256k drams will fall by 2593 pct to four mln compared to 54 mln in march
scientific micro systems smsi acuires supermac
shr 5305p vs 4579p adjusted div 87p making 14p vs 12p adjusted pretax profit 7884 mln stg vs 6031 mln net after tax 5071 mln vs 4054 mln extraordinary credit after tax 4319 mln vs nil note the extraordinary credit represents substantitally the after tax profit on sale of companys interest in m and g group plc
saying he was content with sterlings current value lawson told reporters he wanted to maintain the exchange rate stability we have all signed up for he declined to say if he favoured a rise or a fall from present sterling levels
the value of the stock subscription rights should correspond roughly to the dividend of 30 francs per share paid in 1984
new york business loans drop 572 mln dlrs
current spot market prices of about 150 dlrs per thousand cubic feet will need to rise to about three dlrs to spur reserve replacement he said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
rather than us having a market that will plummet well kind of see prices erode probably to around 85 cents i definitely see 90 cents and would not rule out a brief drop to 85 cents said debra tropp a coffee analyst with prudential bache
its 999 pct certain i guarantee you a strike roman gralewicz head of the seafarers canadian branch has said
stone said the final portion of the 11 billion dlr credit facility will be a 100 mln dlr letter of credit which will replace an existing letter of credit relating to the operating lease of its co generation energy facility nearing completion at its linerboard and kraft paper mill in florence sc
it said it bought the shares as part of its arbitrage and investment business
talking point purolator courier pcc 
it said the transactions together with acquisitions earlier this year will increase its annual sales by about 45 mln dlrs
the drop of irvings share to 44 dlrs per share which is about a 26 dlr drop from the beginning of last week increases the chance that bank of new york will succeed flores said
the rescheduling accord covers some 90 pct of venezuelas commercial bank debt which accounts for more than 90 pct of the total public sector external debt
university of missouri agronomist glen grimes said the report shows that hog producers have responded to a very desirable feeding ratio that they enjoyed for the past 10 months shearson lehman analyst chuck levitt said hog futures prices are above producers break even points
officials have said the 100 pct tariffs on 300 mln dlrs of japanese exports could be modified if japan was found to be honoring a portion of its semiconductor pact
aramco corp has accepted japanese nominations to lift a higher proportion of arab heavy crude oil under term contracts in july oil industry sources said
qtly div 17 cts vs 17 cts prior pay march 31 record march 17
said
sri lankan tea workers launch one day protest
a 100 mln dlr deal for norsk hydro was launched later in the day and the issue was trading around its total two pct fees at close of grey market trade although dealers said the borrowers frequent appearance in the euromarkets could deter investors
based on the recent price of norstars stock it said the proposed tax free exchange would have a market value of about 20 mln dlrs
quebec issues 30 billion yen eurobond
in this era of financial liberalization its almost impossible to control the flow of capital in and out of japan one senior official in tokyo said
in a statement following the release of its 1986 results it stated that the current year had started well
customer net revenue in the mortgage banking area will rise to 4647 mln dlrs in 1987 from 3743 mln in 1986
london and scottish marine oil plc lasll 
we are beginning to see a return in wholesale margins said roger hemminghaus chairman of the refining and marketing company that is to spin off from diamond shamrock corp dia margins are higher because the opec pact is holding us stocks of gasoline and heating oil are declining and gasoline demand is rising as the driving season approaches he said
that compares to 1985 when only 17 pct of the banks losses were in real estate and energy accounted for 43 pct
vbi said it bought 179200 france fund common shares between april 24 and june 2 at prices ranging from 13000 to 14125 dlrs a share
macandrews and forbes group and revlon group inc rev said that they have entered into a definitive mergewr agreement where macandrews will acquire revlon at 2010 dlrs per common share in cash
turkey sent the survey ship sismik 1 into the aegean yesterday flanked by warships to press its case but having earlier said it would go into disputed waters declared the vessel would stay in turkish areas
the average manufacturing work week rose 03 hours to 412 hours the longest factory work week since november 1966 the commerce department said
standard oil co expects the sale of assets and federal tax refunds resulting from last years loss to add about one billion dlrs to its normal cash flows from operations in 1987 its annual report said
at 14 dlrs a share phillips is priced closer to the actual price of oil he added
french january industrial production fell 198 pct official
chemlawn corp said it has asked potential purchasers of the company to submit their proposals by 1700 est on march 18
steel technologies sttx mitsui set venture
the debentures may be converted into common stock at 2880 dlrs per share through march 24
a foreign ministry statement last night hinted turkey was claiming victory
state owned banca nazionale del lavoro bnl said 1986 profits for its banking activities equalled 155 billion lire against 146 billion lire in 1985
china has no official direct trade or government ties with seoul while it maintains close links with north korea
oper shr 18 cts vs 28 cts oper net 1076000 vs 1441000 sales 226 mln vs 212 mln avg shrs 5970000 vs 5080000 year oper shr 55 cts vs 49 cts oper net 3007000 vs 2521000 sales 829 mln vs 737 mln avg shrs 5429000 vs 4484000 note full company name is bear automotive service equipment co oper shr excludes extraordinary profit from utilization of tax loss carryforward of 231000 dlrs or four cts a share and 12 mln dlrs or 22 cts a share respectively in 1986 qtr and year and of 441000 dlrs or nine cts a share and 11 mln dlrs or 23 cts a share respectively in 1985 qtr and year
operators subscribed to 1427 billion lire of the 3000 billion lire issue of seven year discount certificates cts the cts of 100 lire nominal value each were offered for competitive tender at a price of 74 lire
but in eastern and southeastern europe warmer weather has boosted sugar beet growth
s and p cited the adjournment of a special shareholder meeting in which hughes objected to certain conditions for the merger of the companies set by the us justice department
coupon and conversion price for the par priced bond maturing on september 30 1996 will be set before payment on may 2
municipal assistance said it will buy back at 102 the series 50 bonds in july 1994 and the series 53 and 54 bonds in july 1995
firstly opec hardliners led by iran are bound to oppose such a move
and unlike the speculators poehl notes the bundesbank dealers usually make a profit
the government will also repay some of its external debt which stood at 51 billion ringgit at the end of 1986
the qualification was noted in the annual report which new england electric released at a security analysts meeting today
allis chalmers corp said it is deferring approximately three mln dlrs of interest payments due march 31 and april 1
dayton hudson corp in a letter to employees said it told an aggressive buyer of the companys stock that it does not want to be acquired
amvestors financial avfc sets stock dividend
ministers also agreed a 35 billion dlrs scheme to rid the ec of its butter mountain despite spanish and portuguese opposition
the meeting of some 500 top businessmen from across saudi arabia comes at a time of guarded optimism in industry and commerce following the opec pact to boost world oil prices
italian 1986 gdp up 27 pct unemployment rises
kidder peabody and co inc has been retained to advise on the alternatives harper and row added
hillsdown shares were unchanged at 266p
nbc news says us has retaliated against iran
a minority group of european community countries strong enough to block the adoption of a tax on vegetable and marine oils and fats is still intact after the ec commission proposed changes to its proposals earlier today british agriculture minister john macgregor told journalists
ecuador says will resume limited oil production
malaysias debt serving ratio of 176 pct of its exports in 1986 is within the prudency limit of 20 pct bank negara governor jaafar hussein told reporters
the export companies were not identified but the sales included computers made by digital equipment co dec of maynard mass
but dealers and economists said the bundesbank was unlikely to encourage lower rates in the foreseeable future largely for fear of upsetting the current wage round
the deal with argentina was agreed by a majority of ec states after west germany withdrew objections to increased quotas for argentina on high quality beef
several members of congress from iowa have complained that farmers who inadvertantly failed to certify that they had grown oats for their own use in the past now are being asked to halt oats production or lose corn program benefits
with brazils frost season approaching who wants to negotiate quotas one leading producer delegate said
the ministers were meeting to discuss a plan for voluntary plant closures drawn up by the industry lobby group eurofer which it calculates would cost around 22000 jobs
analyst thaddeus paluszek of merrill lynch and co said fleets earnings would have been diluted about two pct in 1986 on the basis of the merger terms announced today
agl is the new south wales natural gas utility while tmoc has extensive onshore holdings mainly in queensland where it owns the moonie oil field and in the northern territory where it operates and holds 4375 of the mereenie oil gas field
but both data are likely to be worse than those recorded in 1986 it added
shr 10 cts vs 29 cts net 584000 vs 1688000 sales 198 mln vs 169 mln avg shrs 5959000 vs 5762000 year shr 68 cts vs 96 cts net 4013000 vs 5430000 sales 681 mln vs 613 mln avg shrs 5934000 vs 5679000 backlog 679 mln vs 606 mln
odyssey filmpartners odyy drops merger talks
but he added regrettably too much of it was in one direction with the japanese selling us 37 billion sterling 58 billion dlrs more than we sold them
stanadyne stna united technologies end talks
the speech comes after washington delayed its bid to wrest control of iadb lending from latin nations
cereals farmers would have to achieve their output cuts by reducing acreage while cattle farmers would reduce their number of head and vinegrowers would cut yield
polyphenylene sulfide is widely used in the electronic automotive and petroleum fields
world bank loans to china seen doubling
they said idbs share in the portfolio which will only finance exports and imports of the private sector was limited to up to 25 mln dlrs
some of the 80 boxes in the parsley consignment had already been distributed to markets and the department called on all shopkeepers and the catering trade to be on the alert
more than 85 pct of euroyen bond issues are swap driven they added
qtly div 325 cts vs 325 cts in prior qtr payable mary 15 record april 15
the company said the warrants are currently priced at 25 cts each but this price is suject to further evaluation by an independent underwriter
i dont think we would have any objection to it he added
under new provisions weightings would be attached to securities similar to those used for lending
while the sudden progress is to some extent coincidental bankers acknowledge a desire to chalk up some quick successes after the shock of brazils unilateral interest suspension last friday
on thursday first financial management corp ffmc offered to acquire comdata for 1800 dlrs per share in stock and cash subject to approval by the comdata board
general motors acceptance corp a unit of general motors corp is raising 500 mln dlrs via offerings of 300 mln dlrs of notes due 1990 and 200 mln dlrs of notes due 1994 said lead manager merrill lynch captial markets
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
jardine matheson holdings ltd jardhk said it will withdraw the previously announced four for one bonus issue of b shares and replace it by a two for five bonus issue of ordinary shares
malhotra said indias m 3 money supply grew 20924 billion rupees in the fiscal year to march 13 compared to a growth of 15538 billion in the same period the year before
bow valley industries bvi sets secondary issue
the dividend is payable july one to holders of record june 16
each 50000 franc note carries 15 warrants
moulinexs capital is split among jean mantelet president of the company with 42 pct along with private investors holding 38 pct and the 20 pct which has just been sold company sources said earlier in paris
net 492000 vs 677000 year net 2650000 vs 2566000 note companys full name is indiana federal savings and loan association
a bid for control of media general would be subject to a recapitalization or possible restructuring and to possible changes in the charter documents and by laws of the company it said
levon said re checked assays from zone two averaged 0693 ounces of gold a ton over a 123 foot section with average width of 466 feet
the company said it believes many of the claims are overstated or without merit
he quoted smcs chief financial director ramon del rosario as telling the board that the transaction would boost the ratio to 25 to 1
phillips raises crude oil posted prices 50 cts bbl effective yesterday wti now 19 dlrs
fcs laboratories said its investment banker butcher and singer inc received a preliminary merger proposal from another company in the healthcare field
this left the company to focus its attention on prime site commercial property in hong kongs city centre only it said
he gave no figure
the commercial rand used for current account transactions rose 05 cts to 49 us cts while the financial rand jumped nearly two cts to 33 us cts
we do not understand why the g 7 approved present rates as the yen has risen excessively since the paris accord ishihara said
those fears are unfounded he said
family dollar stores inc fdo 4th qtr aug 31
dixons group plc said shareholders at a special meeting of cyclops corp approved the previously announced merger of cyclops with dixons
quarterly plans were exceeded in the fuel and power sector and agriculture where output grew by 87 pct compared with the same period last year it said
well have a substantial increase in earnings from continuing operations he told reporters after the annual meeting
the report quoting a broadcast on radio moscow said that due to intensive technology grain production in a bad year will not fall below 200 mln tonnes and in a good year grain production could reach 250 mln tonnes
the finance ministry is also considering public tender of notes of over four year maturity adding to the current two three and four year note auction the ministry official said
trade figures show that the new currency alignments are already changing the japan us trade axis into a japan european community ec axis to the discomfort of europe
it said the conversion price might be adjusted or the offering discontinued based on fluctuations in the market price of irt common before distribution of the debentures
warburg pincus declines to up symbion symb bid
the reagan administration wants to make the bank part of its controversial strategy to resolve the debt crisis
the 27 gilt edged primary dealers regard the introduction of grey market trading as an essential feature of an auction system covering part of the governments funding needs
the changes follow similar cuts yesterday by citicorp and chase manhattan
diana corp dna year march 28 oper net
it said it has started implementing a plan to progressively reduce manufacturing costs at alloytek over the next several quarters
onic raised its estimate of 1986 87 flour exports to 170 mln tonnes compared 165 mln forecast in march and the 187 mln exported in 1985 86
cnw cnw makes private bond placement
to cut the budget glickman said everthing is on the table except those moves that would reduce farmers income
prices for nearby shipment thai sugars have tightened considerably recently due to good far eastern demand possibly for sales to the soviet union or to pre empt any large block enquiries by china they said
the first 500 mln franc 12 year bond led by ccf will be issued at 99 pct with interest based on the annualised money market rate tam and payable on april 21 every year with the first coupon paid next year
traders said the supply squeeze in 15 day forward april brent appears to have ended
no rain was recorded in corrientes chaco and formosa
but growers and traders are concerned malaysias participation in the pact will require them to pay a levy for exports of cocoa to non member countries of the icca
for first day sales on a friday afternoon im happy with the results an officer on prudential baches syndicate desk said
taiwanese investment in the us is expected to nearly double to 80 mln us dlrs in calendar 1987 and rise to 400 mln dlrs a year by 1991 a five year forecast by the economic ministry showed
a spokesman for padaeng industry co ltd the countrys sole exporter attributed the decline to the companys lower stocks which averaged 5000 tonnes in the first quarter against 16000 tonnes in late 1985 when it began exporting
talking point general motors gm 
brazils labour unrest is spreading with many banks universities and government statistical offices on strike and more pay disputes looming
oper shr profit one ct vs loss 114 dlrs oper net profit 435000 vs loss 199 mln year oper shr loss 28 cts vs loss 278 dlrs oper net loss 10 mln vs loss 465 mln note excludes investment gains of one ct per share vs 12 cts in the quarter and gains 10 cts per share vs 13 cts in the year
he added that he hoped states had not yet made their mind up for good
inspiration consolidated copper co a subsidiary of inspiration resources corp said it is lowering its base price for full plate copper cathodes by 050 cent to 740 cents a lb effective immediately
the annualized growth rate accelerated to 32 pct in october december from 30 pct in july september
its a volatile stock that has to be caught on weakness polaroids stock which gained more than a point early this morning was trading at 76 1 8 up 5 8
but for now all analysts say there is no sign the buying pressure is slowing down
steinberg group has five pct of pizza inn pza 
the sharp drop in world oil prices the past year triggered a 60 pct increase in bankruptcies in the countrys oil states according to a study released by the american petroleum institute api api said the dunn and bradstreet study found that business failures rose nationally by 69 pct in 1986 over 1985 but in the oil patch of the southwest the increase was 599 pct
he said contacts among members of opec showed they all wanted to stick to the accord
the traditional industry seems destined to be replaced by new technology imports or some combination of both
about 60 pct of the maize will be delivered by large scale commercial farmers and the balance by small scale peasant producers
the certificates created in october last year closed at 570 francs today
prime minister yasuhiro nakasone sounded a conciliatory note in japans increasingly bitter row with the united states over trade in computer microchips
the us agriculture departments report on export markets for us grain scheudled for release today has been delayed until wednesday april 1 a department spokeswoman said
lowest temperatures will be minus 10 to 0 degrees f
telecom said it advised siemens it intends to close the transaction on march 16 as scheduled if it is approved by shareholders
in the centre west region of poitou charentes plantings were estimated four to seven pct up on last years harvested 244000 ha
bryant said the companys class a stock elects only 30 pct of the board with the remaining 70 pct being elected by class b shares two thirds of which are controlled by the bryant family trust which has no intention of selling its shares
payment is due march 30
it said its representatives will be attending pennsylvania enterprises annual meeting tomorrow in wilkes barre pa
big bell in the murchison goldfield 540 km north east of perth was founded in 1904
the bundesbanks half point cuts in the discount and lombard rates in january have largely exhausted the scope for any further monetary moves the association added
quebec housing starts fell in february to 2191 a four pct drop from last year when growth in quebec housing starts was among the highest in the canada the canada mortgage and housing corp said
billboard publishes eight specialty magazines including billboard magazine and 15 annual directories
at present levels the dollar can no longer be considered grossly overvalued in relation to the european currencies and the yen gleske said
agency rent a car agnc sets stock dividend
dealers said federal funds were trading at 6 1 4 pct when the fed began its temporary and indirect supply of reserves to the banking system
tankoku introduced in february 1986 were designed as a key short term instrument to promote internationalization of the yen
the issue is callable in the first three years only if the stock prices rises abouve 130 pct of the conversion level
this is the so called market to market value
proven probable and possible reserves at end 1986 totalled about 700 mln barrels net on an oil equivalent basis
irt property co said it is in talks on the issucne in europe of 30 mln dlrs of 15 year two pct debentures convertible into common stock at 2350 dlrs per share
that compares with 146 gallons per box previously and 138 gallons per box from the 1985 86 crop
investors will pay for the bond on may 6 and the bond pays annual interest on the same day
richmond hill savings bank and riverhead savings bank fsb said they terminated their previously announced merger negotiations
willcox and gibbs inc said it has agreed to acquire atlantia electric parts distributor b and w electric supply co for an undisclosed amount of cash
under these programs the company systematically buys back shares in the open market to replace shares issued under its stock plan and acquisition earnout agreements
i view it as pre negotiation posturing said analyst carole berger of cyrus j
nigeria guinea set up iron ore firm with liberia
anchor savings bank to trade on nasdaq
oper shr 50 cts vs 40 cts oper net 208 mln vs 164 mln revs 5317 mln vs 4187 mln note 1987 1st quarter net excludes a gain of 471 mln dlrs or 114 dlrs a share for discontinued operations
proceeds from the bonds issued under the companys shelf registration will be swapped for us funds resulting in an all in cost to dow fixed at 15 basis points below the two year us treasury rate
funaro envisaged that any eventual solution to problems with brazils 108 billion dlr foreign debt would involve only partial servicing of the debt
volcker said the challenge was greatest in the education of low income minority groups such as blacks and hispanics
bank of england proposes limits on underwriters
its a very tight time frame ontarios peterson said last night
standard and poors corp said it may cut piedmont aviation incs bbb minus preferred stock because of usair group incs u proposed acquisition of the airline
utahs assets include stakes of 4025 to 5225 pct in seven large central queensland coking mines 49 pct of the samarco iron ore operation in brazil 60 pct of la escondida copper deposit in chile the island copper mine at port hardy in canada 70 pct of a coal mine and 30 pct of a gold mine in south africa and coal and other mines in the us bhp minerals assets include wholly and partly owned iron ore mines coal mines manganese and base metal operations or prospects and 30 pct of the ok tedi gold copper project in papua new guinea
british petroleum plc bp left propane unchanged at 110 dlrs and raised butane prices 550 dlrs to 123 dlrs shell a unit of royal dutch shell group rd st raised propane three dlrs to 113 and butane 550 dlrs to 123 dlrs they said
and oil bearing raw materials fats and oils rose to 216 mln tonnes on a fat oil basis in 1986 from 212 mln tonnes in 1985 the commodity board for margarine fats and oils said
many dealers expect the usda will act soon to reduce the cash price premium at the gulf versus the interior which a dealer in davenport iowa said was roughly 20 pct wider than normal for this time of year at 25 cents a bushel by making it worthwhile for farmers to move grain
west german unemployment unadjusted for seasonal factors fell to 241 mln in march from 249 mln in february the federal labour office said
the company said its subsidiary is not precluded from making a new filing to provide sufficient support
it said the workers represented by united steelworkers of america would receive a 121 dlr an hour pay raise over the life of the new contract and improved benefits
telecommunications orders remained at roughly the same level
moodys upgrades ge ge mortgage insurance unit
emery topped a 35 dlr per share or 268 mln dlr offer from ef hutton lbo inc
period ends february 28 shr 89 cts vs 87 cts net 1195 mln vs 1146 mln revs 8723 mln vs 9174 mln year shr 287 dlrs vs 332 dlrs net 3834 mln vs 4136 mln revs 445 billion vs 445 billion note full name public service enterprise group inc
but he stressed that colombia with stockpiles of 10 mln 60 kg bags had the capacity to export more and would use a recently introduced more flexible marketing policy to do so
bank notes in circulation fell 4402 mln francs to 2448 billion while other deposits on call at the national bank mainly government funds fell 8405 mln francs to 9415 mln
completion is subject to rockwood shareholder approval
the payment date is april 16
norstar nor fleet flt outline merger
late last month banner said it completed a tender offer for and held 96 pct of rexnords common shares
the wholesale market in treasury bills is very active said michael berry vice president of the securities firm walwyn stodgell cohran murray ltd
trade sources here confirmed earlier tentative reports that bangladesh had bought 200000 tonnes of optional origin feed wheat late last week and over the weekend
his pledge to fight the ec proposals and push for the complete dismantling of the system of cross border taxes designed to smooth out currency differences known as monetary compensatory amounts mcas however are unlikely to avoid further protests by producers
saudi arabia seeking rbd palm olein
it said 1986 plantings fell due to removal of crop incentives because farmers could earn more from other crops and because technical and seed improvements had not been widely disseminated
charles stenholm d tex may be planning to introduce a bill to restrict 0 92 to only 1987 crop wheat with the argument that now is not the time to vote in favor of any major changes in the farm bill
lawson said financial markets seem to believe that japanese measures outlined in the louvre accord were the source of weakness for that agreement
dutch chemicals group akzo nv akzoas said it hoped to consolidate its core activities this year by making small acquisitions in the us
honeywell inc said its total debt rose by more than 85 pct in 1986 mainly due to its 102 billion dlr acquisition of the sperry aerospace group
projected earnings from beef sales could fall about 23 mln dlrs as a result he said
more recently a dispute over us access to the grain markets of spain and portugal after they joined the european community threatened to become a trade war
but opec would get through this period if members stuck together
the intensive technology concept for grain production has put a new floor under ussr grain production the us agriculture departments officer in moscow said in a field report
belgian december industrial output falls
alpha industries inc said it has sold its microelectronics division to triax corp for undisclosed terms retroactive to february one
yeutter says japanese curb all but certain
some consumers said the mood of the meeting seemed slightly more optimistic
banks are being invited to underwrite the facility at a flat fee of 0325 pct for five mln dlrs 0275 pct for three to four mln and 025 pct for one to two mln
it said investor response to the offer has been favorable but a higher exchange level is needed if the company is to meet its 90 pct acceptance level
the company also faces some opposition to a 225 mln dlr rate hike requested for 1986
in japan cable is battling against proposals to merge a consortium in which it has a 20 pct stake with another group seeking telecommunications contracts
seoul announces more tariff cuts for us 
but the market on reflection also noted bakers additional statement that the louvre agreement is still operative and this caused some dollar short covering in tokyo today the dealers said
producers still seem divided on how to overhaul the quota distribution system with some producer delegates reporting growing support for a radical reallocation based on the principle of objective criteria favoured by consumers
the rating agency cited an improvement in profitabiliy of groliers primary publishing businesses
bangladesh trade deficit narrows in october 1986
taiwan will tender thursday march 26 for a total of 356000 tonnes of us number two yellow corn 145 pct moisture for various sept dec shipments via gulf or pacific northwest ports us exporters said
the june interim surplus compares with a 176 billion dlr surplus in the same may period
stifel financial corp said it received an unsolicited merger proposal from privately held laidlaw adams and peck inc for 15 dlrs a share in cash for all its outstanding shares
he said the japanese are paying much closer attention now to the french franc and west german mark
he said the process of restoring external balance to the us economy requires dealing with the budget deficit
net 529 mln vs 219 mln note company is mutual savings bank
kuwait increases stake in sime darby
another tokyo trader was less bullish for sure there will be some shortage but it depends on how much they opec members cheat a singapore trade source said there is enough cheating and leakage in the opec sales system to convince traders there is no need to worry about shortages other traders said the questionable iraqi production level after iraqs rejection of its assigned quota was a bearish factor to be considered
sg warburg securities co ltd economist john shepherd said that overall the bank will have to sell about two billion less in new securities next fiscal year a cut of about 15 pct in total new issue volume
shr 51 cts vs 40 cts net 14 mln vs 851000 revs 98 mln vs 65 mln six months shr 74 cts vs 50 cts net 20 mln vs 11 mln revs 177 mln vs 113 mln avg shrs 27 mln vs 21 mln notequarter ended march 31
12 mths 1986 excludes discontinued operations loss 129000 dlrs or three cts per share
among the main factors the bank said bills maturing in official hands and the treasury bill take up would drain 483 mln stg from the system while below target bankers balances and a rise in the note circulation would take out 50 mln and 100 mln stg respectively
senate finance committee chairman lloyd bentsen told the senate the measure was not aimed at retaliation but at correcting japans unfair trade practices
cgcts share of the french switchboard market amounts to around 16 pct
sen
bull shares were quoted at a close of 5545 francs on the paris stock exchange today
the recent price hike represents the fifth this week totalling 475 cts
he declined to respond specifically to a question on this subject but said you must attach particular importance to the consensus which was reached in paris the minister nevertheless added that he would make clear during his trip to washington that west germanys nominal trade figures gave a false impression about actual trade flows
again it seems that cocoa delivered earlier on consignment was included in the arrivals figures
santa fe southern pacific appeals merger ruling
the housewives association official said retail beef prices are high mainly because of distribution problems and high production costs as well as poor operations by the lipc
its far more comprehensive and broad than that and the solution of it requires a comprehensive approach baker said in the interview
the reserve bank said it will offer 400 mln nz dlrs in government bonds of two differing maturities at a 14 pct coupon at a bond tender on april 15
rolls royce the uk s state owned car and aircraft engine maker is seeking a 250 mln stg multiple option facility to provide it with additional sources of financing banking sources said
gevaert nv gevnbr 1986 year
us gnp price deflator rose 07 pct in 4th qtr unchanged
the official made no direct comment on the content or schedule of forthcoming group of five and group of seven discussions
interconnect said it offered 707 dlrs per share plus the repurchase of the loan for 13 mlns for an aggregate price in the 95 mln dlr range
its net income from continuing operations jumped 526 pct to 207 mln dlrs or 55 cts a share in the latest quarter as sales increased 483 pct to 158 billion dlrs
the chancellor need not be worried about losing some psbr funding from national savings but he must be taking the building societies criticism to heart
shares restated to give effect to 14 to one stock split in the form a 40 pct class a dividend in august 1985
an irri statement said lampe 56 is currently senior adviser to the german agency for technical cooperation at eschborn and was a former head of the agriculture section of the federal ministry for economic cooperation
note bonus issue of four new b shares of par value 20 cents each for every one share of par value two dlrs each books close august 3 to 10
neoax said it expects a gain of about nine mln dlrs on the transaction which is expected to becomleted during the second quarter adding the gain will be sheltered by its tax loss carryforwards
cyacq terminates tender for cylcops cly 
it has also been approved by the commerce commission but bils bid is still subject to the commissions scrutiny
lloyds said the attack occurred at about 2200 hrs local time 1800 gmt
jan 31 end shr 31 cts vs 44 cts net 5705000 vs 8101000 revs 506 mln vs 672 mln 1st half shr 63 cts vs 71 cts net 116 mln vs 132 mln revs 809 mln vs 1052 mln note current half net includes 750000 dlr charge from reorganization
under the proposal icahn would have paid for each twa share 20 dlrs in cash and 25 dlrs face amount of 12 pct subordinated debentures due 2007
it said the venture is the first economic cooperation project between china and chile but gave no more details
the australian dollar rose more than 40 points and money market interest rates retreated on the better than expected improvement in the february current account deficit but economists and dealers were cautious about identifying it as the start of a downward trend
it said the bundesbank could hold them down despite strong foreign influence and it saw no interest straining factors in the economy that could affect the long term capital market
in a filing with the securities and exchange commission the group disclosed that it currently holds a 55 pct stake in cardis common stock and said it would likely support an acquisition of the company as a whole or in parts by another party terming such a move the most likely means for the companys shareholders to maximize the value of their investment although the group characterized its cardis stock holdings as principally for investment it said it intends to contact third parties who might be interested in an acquisition of cardis a los angeles based auto parts distributor
at low water tide the vessel has a list of five degrees to port and the list increases as the tide rises
the 500 mln dlrs of 364 day bills were priced at an average 92969 dlrs against 93159 dlrs last week to yield an average 758 pct versus 738 pct last week
shr loss nil vs profit nil net loss 90656 vs profit 892 revs 2194242 vs 2481784 avg shrs 195 mln vs 161 mln nine mths shr profit nil vs loss one ct net profit 42824 vs loss 149150 revs 6364992 vs 6503811 avg shrs 195 mln vs 161 mln note net includes tax credits of 98338 dlrs vs 81492 dlrs in quartrer and 193193 dlrs vs 226560 dlrs in nine mths
a rift has occured among philippine officials over debt talks opening tomorrow in new york with economic planning secretary solita monsod accusing the chief negotiator of softening his stand to gain a quick agreement
the government has pointed out that depressed exports are the main reason for the current weakness in the economy but says that later in the year stronger domestic demand will compensate for this setback
since the last two for one stock split in may 1985 the corpoartion has customarily declared 15 cnt per share dividends for the first three quarters and a final fourth quarter dividend based on its total earnings for the year
production is surging ahead of what was originally planned while demand is growing more slowly than envisaged a few months ago he said
the notes themselves have a 3 3 8 pct coupon and are priced at par
soybean harvesting is due to start in mid april in southern cordoba and santa fe and northern buenos aires
procter and gamble said grey will continue to handle many of its brands including crisco bold joy downy and puritan oil monchel and jif
kahn is a miami insurance executive and investor
the us now imports about 38 pct of its oil needs up from 27 pct a year ago the new york times said
we dont want to see tension rise and we are doing what we can to see if we can help here redman said
us m 1 money supply fell 600 mln dlrs to a seasonally adjusted 7380 billion dlrs in the march 2 week the federal reserve said
bankers were more sanguine in the case of chile
permanent production facilities are being installed and the wells will produce to pipeline by mid april
revlon said it had a 1986 operating profit of 643 mln dlrs compared to a loss of 133 mln dlrs in the year earlier period
usair u says dot public counsel backs merger
jacobs was interested in buying the company but took no steps toward a transaction
switzerlands economy combining low unemployment financial stability and a large external payments surplus is in excellent condition and faces a satisfactory future the organisation for economic cooperation and development oecd said
payment date is april 22 1987
cftc approves mge corn syrup futures contract
texas air tex unit completes system sale
walter thompson co jwt groups main subsidiary and its president and chief operating officer
it did not say what oth us warships were in the area
south korea plans to take steps to keep its 1987 current account surplus below five billion dlrs economic planning board minister kim mahn je said
latin america seeks new approach to debt
the new financial services and banking acts offer britain an alternative for retaliation which would be otherwise denied under legally binding international trade agreements
european community commission president jacques delors called for a swift convening of a meeting of the g 7 countries following the instability in todays trading on world money and stock markets
shr 13 cts vs seven cts net 1487000 vs 778000 sales 644 mln vs 583 mln nine mths shr 66 cts vs 55 cts net 7388000 vs 6127000 sales 2230 mln vs 2222 mln note 1987 quarter and nine month earnings includes a gain on sale of idle facilities of 406000 dlrs or four cts a share 1986 nine months earnings include gain on sale of idle facilities of 377000 dlrs or three cts a share
in a field report the officer said indications were that winter kill might well be more than 100000 hectares compared with 38000 last year
the australian industry development corp aidc said it issued 20 mln australian dlrs of five year notes in london
a us house subcommittee voted to give president reagan authority to block foreign takeovers of us companies similar to the takeover of fairchild semiconductor corp
qtly div 72 cts vs 72 cts prior pay april 15 record march 23 note companys full name is southern new england telecommunications corp
mcintyre mines mp completes unit sale
when talks broke down the us and brazil the largest coffee consumer and producer respectively blamed one another for sabotaging negotiations by refusing to compromise
federated financial savings said it declared an initial quarterly dividend of 85 cts a share april 27 record april 13
permits for single family units fell 32 pct last month to a seasonally adjusted 990000 units after a 30 pct august rise
this change in accounting practice and another change to account for profits made on fixed interest investments resulted in an incidental rise in net profits of 31 mln guilders
at a press conference yesterday a ministry spokesman reported the deposit contained an estimated 44 mln tons of ore with each ton capable of containing 7666 grams of gold
shr loss six cts vs loss 18 cts net loss 89478 vs loss 178507 revs 3894844 vs 1964141 avg shrs 1582790 vs one mln year shr loss 43 cts vs loss 81 cts net loss 534099 vs loss 811836 revs 122 mln vs 5167573 avg shrs 1251337 vs one mln
canadian natural resources ltd said it agreed in principle to sell 80 pct of its working interest in certain producing and non producing natural gas properties located in southwestern saskatchewan
company stocks on land in the oecd rose to 326 mln tonnes on april one this year compared with 316 mln tonnes in calender 1986 while governments also built up their strategic stocks to 102 mln tonnes against 97 mln in 1986
it said negotiations continue with the banks but has no assurance that such funding will continue
brazil is facing the issue very carefully
american cablesystems acn to buy cable system
west texas sour was also raised by 50 cts to 1700 dlrs a barrel
penn central pc sells uk unit
hartmarx corp hmx boosts dividend chicago april 8 qtly div 25 cts vs 23 cts prior qtr pay 15 may record 1 may
shr nil vs nil net loss 77879 vs loss 65501 revs 3895741 vs 4872163 nine mths shr profit nine cts vs profit two cts net profit 488898 vs profit 118208 revs 130 mln vs 158 mln
roach pointed out that stikers returning to work in farm equipment industries helped account for a one pct rise in february business equipment production
discussing the possibility of an acquisition panic said the such a purchase is necessary because icns current marketing capability would not be sufficient to support distribution of the companys products given icns expectations for market growth worldwide
the package also includes a 25 mln swiss franc 10 year credit agreement with interest at 4 7 8 pct underwritten by swiss volksbank dg said
group profit after net financial items 139 billion crowns vs 132 billion sales 1522 billion crowns vs 1261 billion profit per share 2050 crowns vs 1960 proposed dividend five crowns vs 440
ninety two nations are taking part in the four year uruguay round of talks launched in punta del este last september
the company said bicycle sales were soft early in the period but recent orders and shipments have been running well ahead of last year
the central bank said the lower surplus was mainly due to the decline in the value of exports and reexports to 372 billion dirhams from 542 billion in 1985
imports in september amounted to 12 billion dlrs against 132 billion dlrs in august
geoffrion leclerc inc six mths net
the company said the tender offer is the first step in a plan to buy 100 pct of the purolator shares
purchase and delivery of the silver to placer will result in an after tax gain of about 66 mln dlrs equity said
ces president philippe neeser said one of the major fears for the french economy this year was a resurge in inflation
he told a tokyo reception his country hopes to raise crude and products exports to japan to earlier levels but did not elaborate
they said japan would participate in an icco meeting on july 13 in london to revise icco buffer stock policy
klm royal dutch airlines klmas is discussing marketing cooperation with us regional carrier air atlanta inc but it is not seeking to take a stake in the airline a klm spokesman said
gold prices retreated at midday but rallied before the close with support from the silver market which was approaching two year highs traders said
in 1988 the infested level would be set at three or more live insects per representative sample about 100 grams in 1990 two or more insects and in 1992 the final infestattion level would be set at one or more live insects per representative sample
as the issue is basicly political a solution can only be found by bilateral negotiations the statement said
but most analysts polled said they did not believe lawsons statement signalled a change in uk policy
harper and row gets bid from harcourt brace jovanovich for 50 dlrs shr
however some analysts said opec may need to hold a meeting in september to re evaluate market conditions
mcgraw hill fell 2 1 4 to 68 1 4 on 223000 shares
it has agreed to exchange newly issued shares equaling 80 pct of the aggregate issued to acquire hemdale
us m 1 money supply rises 500 mln dlrs
banca damerica e ditalia spa in which 983 pct was acquired from bankamerica corp bacn late last year would be consolidated this year and contribute to further expansion of deutsches business management board joint spokesman f
hollinger hlgto completes unimedia takeover
this venture will be followed within a few months by the establishment of a trading operation for japanese us dollar denominated equity warrant issues
vista management inc said it has agreed to acquire general energy development inc for over 2200000 dlrs in cash with financing to come from mortgage loans on the national auto service centers general energy operates
it predicted prices would remain at about 15 18 dlrs a barrel for several years and then rise to the mid 20s with imports at about 30 pct of us consumption
todays issue was the first for four year notes since last may which produced an average price of 9979 average yield of 4561 pct and a coupon of 45 pct the ministry said
the barley has a 14 pct humidity
the new international natural rubber agreement inra like the 1979 pact will use a buffer stock as the sole instrument for market intervention excluding export quotas or production controls
oil generates about two thirds of ecuadors total exports and as much as 60 per cent of the governments revenues
shr 81 cts vs 81 cts net 8750024 vs 7772932 revs 1576 mln vs 1624 mln avg shrs 108 mln vs 96 mln
the new constitution does not allow military men to hold positions in civilian agencies
next year when taxpayers take the new forms and place them side by side to compare them more people will throw their hands up and say im going to get help he said
the dollar steadied at around 60650 0700 francs after easing in early trading to 60615 35 from an opening 60700 50
us to ask for share of japans rice market
south koreas gross national product gnp will exceed 10 pct real growth this year and the won will rise further as long as the current account surplus continues to widen deputy prime minister chun in yong told reporters
dallas corp dls 3rd qtr net
african imports
manufacturers hanover would also to act as agent for a bank group to raise the rest of the financing usair said
even so japanese officials point to last septembers government programme of new economic measures
however some producer and consumer members emerged from the final icco council meeting with reservations about the pact
bramalea ltd year net
the minister believes that market forces will push the dollar back up from its record low of 14470 yen today according to the spokesman
lawson wants to delay a cut in base rates until the budget
if metropolitan were to exercise the option and acquire all of hacks stake it would have 471208 metex common shares or 359 pct of the total
the increasing cases of record production as a result of record yields and better husbandry have forced sugar producers to strive for greater efficiency
in its annual report williams said its northwest pipeline corp and williams natural gas co had natural gas costs that are among the lowest in the nation averaging 204 dlrs and 207 dlrs per mcf respectively last year
instead they have focused on medium term policy goals but left room to adjust their agreements with periodic meetings
datron datr agrees to buyout by officers
fed adds reserves via customer repurchases
period ended jan 31 oper shr two cts vs eight cts oper net 96000 vs 449000 sales 376 mln vs 358 mln avg shrs 5317900 vs 5689277 note full name is diversified industries inc earnings exclude gains from utilization of tax loss carryforwards of 62000 dlrs or one ct a share vs 358000 dlrs or six cts a share
further purchases are expected by the peoples republic of china at the lower end of the recent price range which should limit the downside movement it said in its latest monthly market report
in january 1985 before the national bank ended the distinction between notes and bonds bond issues totalled 166 billion francs notes 139 billion and credits 5975 mln
one aim had to be to raise the credit standing of debtor countries to such a degree they are able to raise funds on international credit markets again
among finished goods the index for energy products rose four pct in february after a 98 pct increase in january
weyerhaeuser further stated that it has lowered its manufacturing cost structure and is obtaining significant productivity increases
bhp acquired utah from general electric co ge in 1984
however final results will be affected by certain charges including legal and investment advisors fees preferred stock dividends and other costs of restructuring it said
spot market prices slipped some two dlrs in february but have firmed in the past two weeks to near opec levels as traders gained confidence in opec price and output discipline
but by wednesday the dollar climbed to more than 187 marks about five pfennigs above its levels the friday before the g 6 accord
alliance financial corp alflo 3rd qtr net
us first time jobless claims rose in week
but delegates said the latter would only be considered if the worlds four major exporters australia brazil cuba and the european community can resolve differences over how prices can best be supported and how to share the world todays special session was called because the us earlier indicated it would only be able to pay 56 pct of its share of the iso budget
trade minister mike moore told his colleagues at a welcoming ceremony before two days of talks here that great progress had been made in preparing for the negotiations which must not be sidetracked
he said venezuelas original proposal was to pay no principal on restructured debt this year but is now insisting that if it makes payments they be compensated by new bank loans
miyazawa told a press conference the agreement reached last month in paris by six major industrial nations to cooperate in bringing about currency stability has prevented speculative concerns from being active in money centres
the treasury said the bank of england used the opportunity of strong demand to rebuild reserves after losses last autumn and said the underlying rise was still relatively modest
dividend payable after general meeting on june 4 books close april 22 to may 5
the facility will include a tender panel to bid for multi currency cash advances at a maximum rate of 01875 pct over the london interbank offered rate
a royal insurance plc unit is raising 300 mln marks via a five year bullet eurobond with a 5 1 2 pct coupon priced at par sole lead manager commerzbank ag said
whirlpool corp whr 1st qtr net
subsequent repayments will be determined under a complex structure which will be based on the maturity structure of individual banks loans the bankers said
the us agriculture department said cumulative sugar imports from individual countries during the 1987 quota year which began january 1 1987 and ends december 31 1987 were as follows with quota allocations for the quota year in short tons raw value cumulative quota 1987 imports allocations argentina nil 39130 australia nil 75530 barbados nil 7500 belize nil 10010 bolivia nil 7500 brazil nil 131950 canada nil 18876 quota 1987 imports allocations colombia 103 21840 congo nil 7599 costa rica nil 17583 ivory coast nil 7500 dom rep 5848 160160 ecuador nil 10010 el salvador nil 260198 fiji nil 25190 gabon nil 7500 quota 1987 imports allocations guatemala nil 43680 guyana nil 10920 haiti nil 7500 honduras nil 159172 india nil 7500 jamaica nil 10010 madagascar nil 7500 malawi nil 9 100 quota 1987 imports allocations mauritius nil 10920 mexico 37 7500 mozambique nil 11830 panama nil 26390 papua new guinea nil 7500 paraguay nil 7500 peru nil 37310 philippines nil 143780 stchristopher nevis nil 7500 quota 1987 imports allocations swaziland nil 14560 taiwan nil 10920 thailand nil 12740 trinidad tobago nil 7500 uruguay nil 7500 zimbabwe nil 10920
terms of the securities will be based on market conditions the company said
traders said the stc attempted to buy eight cargoes of processed palm oil but its price ideas were too low for exporters
fiat spa fiatmi said it had no plans to issue eurobonds linked to shares still held by banks after the placement of the 15 pct libyan stake in fiat last autumn a company spokesman said
world governments should prepare for an inevitable significant increase in the price of oil as non middle east supplies diminish exxon corp xon director and senior vice president donald mcivor said
the february increase was less than janauarys 04 pct increase but slightly above the average for the later months of 1986
shr 16 cts vs 13 cts net 1538000 vs 1288000 sales 353 mln vs 295 mln nine mths shr 27 cts vs 37 cts net 2601000 vs 3586000 sales 1020 mln vs 842 mln
galveston also said it granted hemlo gold options to acquire up to two mln galveston shares
the company said any holders surrendering debentures for conversion after march 15 other than those surrendering for conversion on march 31 will be required to pay to the conversion agent an amount equal to the interest paytable on the debentures on march 31
the acquisition of the shares is part of a plan of exchange approved by united presidential shareholders at a special meeting march 6
this compares with a 3607 billion yen profit a year earlier
chemlawn said if waste management were to sign such an agreement chemlawn would supply it with the same information being supplied to other potential purchasers
the promising japanese beef market could be one of the bright spots for us agricultural exports said philip seng asian director for the federation
the issue will be partly paid with 25 stg pct payable on acceptance and the balance on july 1 1987
audio videos offer is scheduled to expire march 20
a white house ordered report said that growing us reliance on foreign oil into the year 2000 could have potentially damaging implications for national security
on dec 31 1986 newmont said magma had about 850 mln dlrs of net operating loss carryforwards expiring in 1999 2000 and about 40 mln dlrs of investment tax credit carryover expiring in 2000 2001
the facilities will be established to serve japanese and domestic automobile and appliance parts manufactures in the us the company said
an additional pretax gain of 19 mln dlrs will be deferred until realization is more fully assured it said
oper shr loss one ct vs loss 11 cts oper net profit 89000 vs loss 323000 revs 9603000 vs 6116000 year oper shr loss six cts vs loss 21 cts oper net profit 158000 vs loss 629000 revs 346 mln vs 228 mln note 1986 net excludes tax credits of 170000 dlrs in quarter and 321000 dlrs in year and gains on termination of pension plan of 82000 dlrs in quarter and 190000 dlrs in year
it estimated 1985 86 output at 7170 mln tonnes vs 7171 mln last month
jonathan nelson managing director of narragansett capital corp narr which is participating in the buyout plan declined to say if buyers have already been lined up for the entertainment group
the senate yesterday unanimously passed a resolution calling for action against japan for violations of the pact since september
de los angeles said the share purchase would also violate an smc agreement with its creditors to maintain a 22 to 1 debt to equity ratio
a purolator courier corp director resigned from the companys board saying he plans to take steps to make or find an offer that tops the 265 mln dlr buyout deal already accepted by purolators board the company said
united will pay pan alberta producers about 50 mln dlrs over the interim period and take at least an average 40 mln cubic feet a day of gas pan alberta said
pennzoils share of this production initially should be five thousand barrels a day increasing to a peak of 15 thousand barrels a day net by 1989 in its sulphur business pennzoil said production totaled 21 mln long tons last year a decline of 18 pct from 1985
the company said proceeds from this sale together with the sale of the remaining coal assets should allow it to fully recover its investment in the operations
the provision for loan losses was 872 mln dlrs compared with 838 mln
the un security council was called to a private meeting on monday for consultations following the united states attack on an iranian oil platform
the treasury secretary also called for the iadb to improve its analysis of the policies of debtor countries strengthening its process for assessing the specific needs of debtor nations
the bank said the trade deficit for the two months widened to an estimated 68 billion baht from 52 billion a year ago
sharp operates 38 offices in 20 countries
but santos alvite told reporters he hoped a first cargo of 300000 barrels could leave maracaibo this weekend to supply refineries near guayaquil
the sale will complete the planned disposition by american barrick of all its non gold assets it said
the louvre accord was greeted with scepticism by currency dealers who said they would soon put it to the test
however as showers fell intermittently after last weekend producers feared another spell of prolonged and intense rain could cause more damage to crops already badly hit this season
vulcan corps first quarter operating results will show a loss chairman lloyd i
morgan guaranty ltd said it has been added to the group of dealers for the euro commercial paper program for basf corp that was launched last year
oper shr loss 26 cts vs profit 22 cts oper net loss 672879 vs profit 596760 revs 2188678 vs 2364280 nine mths oper shr loss 160 dlrs vs profit 92 cts oper net loss 4278055 vs profit 2472532 revs 5896322 vs 7497782 note oper net excludes tax gains of 596000 dlrs for year ago qtr and 2173000 dlrs for year ago nine mths
united uil pact may lower noncash income
i believe that policy was right haughey said
the dutch cost of living index base 1980 fell 12 pct to 1215 in the year to mid february after a 13 pct fall in the year to mid january 1987 the economics ministry said
alfin inc afn 2nd qtr jan 31 loss
ste lyonnaise des eaux lyoepa year ended dec 31
peabody holding completes acquisition
january exports seasonally adjusted were 972 billion dlrs against 1039 billion in december and 1089 billion in january 1986
earlier this month lawyers for the shareholders asked the court to expand the charges to include an allegation that in the buyout allegheny had attempted to illegally freeze out its public shareholders at an unfair price
the total quantity of rubber offered at the sale was 320 tonnes
the bulk of tax last year was corporation tax with petroleum revenue tax prt representing only 16 mln stg he said
uk money market forecast revised to deficit
mclean industries inc said its shipping subsidiary united states lines inc reached an agreement in principle to transfer its south american service to american transport lines inc a subsidiary of crowley maritime corp under the terms of the agreement united states lines will lease five vessels to american transport for 15 months with an option to extend the period up to 10 years the company said
rail freight and shipping cargo movements in the countrys most populous state were the first to be affected and union officials said almost every business sector will be hit unless there is a quick settlement
meanwhile the end holders of perpetual notes most of whom are japanese banks must still find a way to value them by year end now a week away
the deal is subject to completion of a definitive merger agreement receipt of third party approvals and other conditions the company said
a company spokesman said specific figures were unavailable
bolivias proposal to repurchase at a deep discount the 900 mln dlrs it owes to foreign commercial banks is likely to be accepted bolivian central bank governor javier nogales iturri said
oper shr profit 166 dlrs vs loss eight cts oper net profit 120 mln vs loss 572000 revs 274 mln vs 4311000 year oper shr profit 136 dlrs vs loss 43 cts oper net profit 9817000 vs loss 2433000 revs 350 mln vs 138 mln avg shrs 7224000 vs 6731000 note 1985 net includes tax credits of 492000 dlrs in quarter and 2433000 dlrs in year
sarney told members of the council that for brazil it is a must to recover its annual trade balance surplus to the 12 billion dollars average recorded in 1984 and 1985 and which dropped sharply last year to 8 billion dollars
the student loan marketing association announced an offering of australian 100 mln dlrs approx
leading cocoa producers will discuss whether newly agreed rules on an international cocoa buffer stock will succeed in reversing a sharp fall in world prices when they start four days of talks here later today conference sources said
with a timely spring soviet farmers would probably be able to reseed the damaged acreage with spring crops but analysts noted that spring crops normally yield lower than winter crops sometimes as much as 30 35 pct lower
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
the downgrading reflects higher debt levels from the debt financed repurchase of 89 mln dlrs worth of common shares combined with a bleaker earnings outlook due to weakness in key energy and southwest cement markets
the meeting had been postponed from its original date of may 14 in order to let management review recapitalization options it said
alberta energy plans debenture issue
he said a half point cut would ensure continued support for sterling at least in the near term
shr one ct vs five cts net 50745 vs 161019 revs 478700 vs 1048543 avg shrs 4350000 vs 3217500 nine mths shr four cts vs 12 cts net 169275 vs 390179 revs 1478066 vs 2658692 avg shrs 4350000 vs 3217500
the agreement last week with the paris club of western creditors rescheduling over 10 years 900 mln dlrs worth of official debt due by mid 1988 together with an accord late last year to reschedule 18 billion dlrs of commercial bank debt had already encouraged donors to increase aid he added
that particular development would maintain broad bank participation in new financing packages to debtors
eastman kodak co is raising 25 mln dlrs through an offering of notes due 1997 said sole underwriter morgan stanley and co inc
nippon life insurance cos 538 mln dlr purchase of a 13 pct stake in shearson lehman brothers inc brokerage unit is a shrewd move that other japanese insurers are likely to follow securities analysts said
shr 27 cts vs 23 cts net 1713000 vs 1447000 revs 469 mln vs 393 mln year shr 97 cts vs 78 cts net 6154000 vs 4855000 revs 1679 ln vs 1304 mln
coast rv inc 1st qtr net
houston said representative assays from the 2750 ft and 2600 ft levels at the south end of the mine established ore deposits in the following ranges copper 37 pct to 508 pct lead 99 pct to 15 pct zinc six pct to 96 pct silver 1563 pct to 7992 oz per ton gold 062 to 19 oz per ton germanium 93 to 103 grams per ton gallium five to 18 grams per ton
the company did not disclose the cost of the changes made in the severance retirement or stock plans
datacard datco adopts dividend rights plan
it did not identify the buyers
shultz said he did not know to what extent the stock selling frenzy reflected concerns about us trade and budget deficits
ptt wants to develop the field and has asked statoil to consider co development if the fields licence is renewed
seaga yesterday said jamaica has reached its maximum stock of debt and will not undertake any more borrowing until it was justified by economic growth
a memorandum of understanding signed by the two sides in october last year said bond would acquire atlas total loans of 275 mln dlrs to be repaid by the mining company in gold
poland reassures creditors on economic reforms
the firm employs 1100 workers toshin steel with 1700 workers has given no forecast for the year ending march 31
cyclops cyl holders approve dixons merger
some 21 japanese banks have loans outstanding to nigeria representing about four pct of the credit extended by western commercial institutions banking sources said
japan has complained to the secretariat of the general agreement on tariffs and trade gatt that south koreas five year plan to cut its trade deficit with japan breaks gatt rules trade ministry officials here said
the treasury said baker and stoltenberg are consulting with their g 7 colleagues and are confident that this will enable them to foster exchange rate stability around current levels the louvre pact is an agreement between the group of seven leading industrial countries including the united states and west germany to promote currency stability
all of the increase in estimated imports will be in corn usda said
last year the company earned 528 dlrs a share
commerce had ruled that one major brazilian producer cutrale would be excluded from the anti dumping duty
bacro of california said its board approved an offer from its chairman kenneth donner and president michael donner to purchase all the outstanding barco common shares at 505 dlrs per share in a leveraged transaction
1985 4th qtr includes loss of 35 mln dlrs for discontinued operations
miti is planning to work out a revised energy supply demand outlook through deliberations of committee meetings of the agency of natural resources and energy the officials said
while the company has no current plans for a major acquisition we are ready to move quickly in the acquisition field if the need arises clements said
full name is consolidated captial income opportunity trust 2
because much of the crude oil in california fields is thick heavy and expensive to extract oil prices would have to increase to near 1985s levels before any significant recovery is seen in drilling they said
shr 13 cts vs 12 cts net 1612000 vs 1571000 revs 288 mln vs 250 mln avg shrs 128 mln vs 133 mln
bank of korea officials would neither confirm nor deny the yonhap forecast saying only that the bank would issue its own figures later in the week
the realtors group said the sales rise was apparent across the country and reflected lower mortgage interest rates as well as more housing demand
bank of japan to sell 300 billion yen in bills
proposed offerings recently filed with the sec
in a filing with the securities and exchange commission the group said it purchased 511500 bell and howell common shares between april 29 and june 26 at 4425 dlrs to 5602 dlrs a share
of the 203 billion dlrs advanced by the world bank inter american african and asian development banks in 1980 84 only 100 mln dlrs went to forestry projects it said
japan february consumer prices unchanged 04 pct january drop official
danish february consumer prices fall 01 pct
the department said inflows were boosted in the fourth quarter by international activities of japanese banks and strong demand within the united states to finance acquisitions
us refiners said they are worried that growing supplies of imports proposed federal environmental regulations and the marketing of a third grade of unleaded gasoline would cost them dearly and at a time when the industry is recovering from a recent slump
qtr ends jan 31 shr loss three cts vs loss six cts net loss 93000 vs loss 191000 revs 338000 vs 554000 six mths shr loss four cts vs loss seven cts net loss 108000 vs loss 219000 revs 854000 vs 1283000 note company is 80 pct owned by technodyne inc tnd a subsidiary of electro audio dynamics inc ead
however the companys convertible bonds had been trading since the companys share price provided a benchmark to which dealers could establish a proper price level
according to continental materials the group said may 11 it might boost its stake in continental materials
occidental will use the proceeds to reduce its debt
1987 3rd qtr and nine mths has 29 mln and 74 mln dlrs for tax credits
the cash fund will enable equity silver to continue to pay dividends on its preferred shares and increase the likelihood that it may be able to pay dividends on its common shares the company said
the us civilian unemployment rate fell to 66 pct in march from 67 pct in february the labor department said
reflecting a longer term uncertainty some some trust banks and japanese insurers are keeping their short dollar positons hedged against exchange losses in their foreign portfolios while some others have started covering those short positions japanese bank dealers said
de los angeles who represents smcs minority stockholders asked the sec to block the transaction approved last week by the companys board
k l
usp real estate investment trust said it will post a first quarter gain of 2258216 dlrs on the sale of the spanish villa apartments in savannah ga which was completed last week
minn
the philippines will ask the us agriculture department usda to increase its 1987 sugar import quota following market reports that taiwan will not be able to fulfil its quota sugar regulation administration sra chairman arsenim yulo said
the prospective plant would cost an estimated 270 mln canadian dlrs and would produce methyl tertiary butyl ether mtbe from raw materials available locally it said
shares of polaroid corp rose following a reiterated recommendation by merrill lynch and co that focused on strong earnings momentum for the company traders said
the existing quota system is far too rigid and does not reflect supply and demand reality he said
by including these companies for the single month of december 1986 4th qtr earnings were raised by seven cts per shr and for the year by eight cts per shr
the runup in crude oil will be a short lived phenomenon said carroll mcentee and mcginley analyst brian singer
some 300000 to 400000 tonnes could have changed hands in current activity which is encouraging for a sugar trade which previously saw little worthwhile end buyer enquiry they added
this followed a 06 pct rise in the ppi in january
he told ibc president jorio dauster has confirmed acceptance of national coffee policy council cnpc proposals to establish individual export quotas based 65 pct on export performance 25 pct on stocks and 10 pct by auction
standards capital spending totaled 177 billion dlrs in 1986
the call money rate dropped to around 8 3 8 pct on february 23 the day after the paris accord and then edged steadily down to eight pct on february 27 and 7 3 4 pct on march 3 where it has now stabilised
the communique said the ministers reaffirmed the commitment on cooperation reached in a meeting on february 22 in paris when they had agreed to stabilize foreign exchange rates at the then current levels
australias economy should manage modest growth over the next two years after a sharp slowdown but unemployment could still edge upwards the organisation for economic cooperation and development oecd said
fieldcrest cannon inc is raising 110 mln dlrs through an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole underwriter kidder peabody and co inc
shr 15 cts vs 15 cts net 2407000 vs 2393000 revs 1172 mln vs 671 mln note aggregate judgments in antitrust and other suits of 77 mln dlrs not included in year ago or 1987 1st qtr results
usair did respond however to a twa request to the department of transportation for permission to buy up to 51 pct of usair stock and place the stock in a voting trust pending approval of a takeover
dixons group plc buys 2455000 cyclops shares now owns 83 pct
the surplus widened in the first two months of the year to 235 billion dlrs from 187 billion in the same period last year
it said in a statement that the loan will help finance the contruction of a 279 km track for high speed tgv trains between paris and le mans in western france and tours in the south west
marc mathieu of societe anonyme de telecommunications sat told journalists the bid foresaw a direct stake of 20 pct for apt the joint firm set up by the us s att tn and the nv philips gloeilampenfabrieken pgloas the other 80 pct would be owned by a holding company made up of sat apt cie du midi mcdppa and five mutual funds
they told local banks may decide on the increase at this weekends routine meeting of the hong kong association of banks
results for year ago nine mths and current first half restated to reflect acquisition of ej miller enterprises for 1040000 shares in january 1987
concord computing ceft executives resign
the offer closes next friday
it said the new facility has allowed it to take full advantage of an early payment discount of about 13 mln dlrs in principal and interest which was negotiated with its banking syndicate in connection with an april 1986 financial restructuring
the notes are available in denominations of 1000 and 10000 dlrs with payment set for may 6
there was no immediate confirmation of the attacks from gulf shipping sources
shearson has 54 pct of chicago milwaukee chg 
dennis mcalpine an analyst with oppenheimer and co said he had speculated the company might be considering a leveraged buyout
the most important of these are to stabilise prices and to achieve a balanced growth between demand and supply he said
equiticorps offer for guinness peat became unconditional on october 3 when it had 506 pct and closed on october 17
prices rose at the fortnightly export auction here on march 25 for sales of 19071 tonnes of coffee from the 1986 87 and 1985 86 crops out of a total offering of 19407 tonnes the coffee board said
the problem grew severe as customers won cheaper sources of gas because of open access
acknowledging that sanctions have lost poland important us markets including agricultural equipment textiles chemicals and some foodstuffs western economists say credits dried up for economic not political reasons
in january the nations foreign reserves showed the largest ever monthly increase at 922 billion dlrs due to massive bank of japan dollar buying intervention during the month as the dollar fell briefly to an all time low of 14998 yen on january 19 foreign exchange dealers said
further marked dollar fall would burden us trade deficit stoltenberg
the venture called mi tech steel inc will be set up to serve japanese and domestic automobile and appliance parts makers in the us a plant will be located near murfreesboro tenn and production is expected to begin in the fall 1987 the company said
sigma mines quebec ltd 4th qtr net
the gatt talks began a year ago in punta del este uruguay to liberalize the global trading system and to include in it trade in agriculture and services such as banking
memotec data said teleglobe which has provided canadas overseas telecommunications services since 1950 now becomes teleglobe canada inc a unit of memotec
this compares with the banks revised estimate of a 750 mln stg shortfall
the sources said the commission felt entitled to offer rebates at slightly below the level theoretically justifiable in the light of its 1987 88 farm price package proposal to reduce guaranteed prices for sugar by two pct from the start of the new season in july
daiwa international europe ltd is the other joint book runner
however the company reported net income declined to 17 mln dlrs or 77 cts a share in the quarter ended february 28 from 19 mln dlrs or 84 cts a year earlier
a bank of sudan central bank spokesman said last month khartoum was negotiating a freeze on interest payments with commercial banks owed about two billion dlrs
the charge included the indefinite idling last month of four plants in utah pennsylvania and texas
devtek corp 2nd qtr jan 31 net
utilization of canadian manufacturing capacity rose to 772 pct in the fourth quarter of 1986 from 77 pct in the third quarter statistics canada said
national business loan data are scheduled to be released on friday
our major commitment is with the countrys growth
may was the eleventh successive decline from a peak last summer of 116 pct the employment department said
the more a consumer knows the more likely he will make an intelligent choice the us scientists said they had no doubt imported palm palm kernel and coconut oils contain high saturated fat levels
it said it is already the principal ec producer of sugar and of soya oil and cake and the major cereal trader
bp scottish refinery set to restart this week
rapeseed consumption in 1986 87 was 563889 tonnes against 528152 a year earlier
mitsui buys five pct stake in us chip maker
major cocoa exporters are likely to limit sales in the weeks ahead in an effort to boost world prices sources close to a meeting of the cocoa producers alliance cpa said
shr 122 dlrs vs 128 dlrs net 2264 mln vs 2339 mln assets 8045 billion vs 7023 billion loans 3516 billion vs 3599 billion deposits 4522 billion vs 3968 billion return on assets 114 pct vs 135 pct return on common equity 1820 pct vs 2208 pct note 1987 qtr net was reduced by 20 mln dlrs because 13 billion dlrs of loans to brazil were placed on non accrual
delegates said many differences of opinion still have to be ironed out
production at trail and kimberley has been shut down since the strike began may 9 and cominco has had to declare force majeure which means the company may be unable to honor contracts for products from the smelter and mine
talyzin said national income the nearest soviet equivalent to gross national product is planned to rise by 43 pct against a planned 41 pct this year
the bank of tokyo ltd is issuing 100 mln swiss francs of convertible notes due september 30 1992 paying an indicated 1 1 4 pct lead manager swiss bank corp said
the committee will be seeking a further shipment of between 27000 and 33000 tonnes when it reopens the tender tomorrow he added
earlier today diplomats said belgium the current holder of the european community presidency appears ready to drop the plans for the controversial oils and fats tax
i dont know what is going to happen to the market
analysts noted that fairchild does make sophisticated microchips used in supercomputers
with the help of appropriate economic programmes there should be a way to bring back financial stability to that country
in return the company would have been eligible for 500 mln dlrs in loan gaurantees and price supports from the us treasury department which took over the contract from the synthetic fuels corp unocal said
economists had been expecting the fed to do this because of the need to offset seasonal factors expected to drain reserves heavily over the next few weeks
the agreement on the moratorium with some 330 creditor banks expires on june 30
he pointed out principal debtor nations are expected to grow an average 35 pct this year the fastest real rate of growth since 1980
under a 0 92 plan farmers could forego planting and still receive 92 pct of deficiency payments
west german m3 money supply rose a seasonally adjusted 26 billion marks in february to 10351 billion the bundesbank said
consolidated stores corp cns 4th qtr jan 31 net
the bank of england said it forecast a liquidity shortage of around 300 mln stg in the market today
twa files application seeking right to raise usair stake to 25 pct
weyerhaeuser will use proceeds from the offering to reduce outstanding commercial paper
analysts said bats increasingly good performance in the uk insurance area was encouraging
shr 64 cts vs 38 cts net 1062000 vs 585000 sales 136 mln vs 9262000
the company said its magna car dominated its market segment with sales of 30500 units against 26900 in 1985
metromedia said only five pct of the debentures remain outstanding as a result of a november 1986 purchase offer and previous offers under which metromedia bought 103 mln dlrs principal amount of debentures at 80370 dlrs per 1000 dlr principal amount
canadian narrowly defined money supply m 1 fell 430 mln dlrs to 3565 billion dlrs in week ended june 10 bank of canada said
thailand calculates foreign reserves to include gold special drawing rights and convertible currencies
this takes the banks total assistance so far today to 928 mln stg and compares with its forecast shortage which it earlier revised up to 850 mln stg from 750 mln
aziz said the pakistani government does not want area sown to wheat to increase from the current seven mln hectares
ibc president to attend managua coffee meeting
icahn refiled a more complete application form monday
yesterday they averaged 645 pct after rising as high as seven pct at the close
bankers trust bt raises prime lending rate
shr 110 dlrs vs 133 dlrs net 3065000 vs 3730000 sales 2739 mln vs 2410 mln year shr 327 dlrs vs 262 dlrs net 9168000 vs 7338000 sales 107 billion vs 9872 mln note fiscal 1987 net includes tax credits of 10 cts for the fourth quarter and 104 dlrs for the year compared with 43 cts and 85 cts in the respective periods of fiscal 1986
tony lama tlam to buy coulson of texas inc 
qtly div nine cts vs nine cts prior qtr pay nov 25 record nov 13 note full name is international research and development corp
german march cost of living 02 pct below year ago feb 05 pct below official
the company said it submitted its latest offer to the union at the same time announcing that on tuesday it would end a lockout that started december 14
payment date for bond and warrants is april 2 1987
but the accounting change effective january 1 will reflect only cash received through interim rates approved by the commission pacific gas and electric said
yields on certificates of deposit issued by the united arab emirates central bank were unchanged at 6 1 8 pct the bank said
one analyst speculated that coke became the rumored suitor because wendys decided to sell coke at its fountains instead of pepsi
the reforms follow several years of pressure by the us to stop competitors notably france and japan using foreign aid to subsidise exports putting us firms at a disadvantage
france supports the european commissions plans for a european community ec fats and oils tax but objects to some of its oilseeds proposals yves van haecke an aide to french agriculture minister francois guillaume said
a canada us delegation to promote the seaway to shippers in western europe should result in some increased traffic this season but the full benefits wont be felt for several years blair said
iea estimates that the draw in oil stocks during the first quarter of this year will come largely from oil companies whose inventory levels by april one will be an estimated 326 mln tonnes or about 74 days consumption
banks held 520 billion marks on february 27 at the bundesbank averaging 510 billion over the whole month just clear of the 505 billion february reserve requirement
the payment date is april 15 while listing will be in luxembourg
inflationary pressure increased during the quarter and investment plans for the next year were scaled down which the survey said could limit activity in the medium to short term
production in 1985 86 is projected at 10000 mln tonnes vs 9999 mln tonnes last month
btr nylex raises offer for borg warner australia
a rise of this size would be the largest since the fourth quarter of 1984 when industrial output rose 27 pct the officials said
if the split is approved at the may 13 annual meeting the quarterly dividend rate will be adjusted to 10 cts a share dcny said
microbiological sciences inc mbls 4th qtr loss
twa twa tangles piedmont pie situation
genex corp gnex year loss
in addition 583225 dlrs of aid will be made available to malawi to feed 96700 people displaced from mozambique and a further 340200 dlrs for cyclone victims in vanuatu in the south pacific
as of november 30 cccs borrowings from the us treasury amounted to 132 billion dlrs leaving a statutory borrowing authority available of 118 billion dlrs
nazer in his first interview since succeeding ahmed zaki yamani last october said i do not foresee any need for new measures before the 25th of june when our next opec meeting will take place as scheduled nazer said opec was producing below 158 mln bpd and all members were abiding by its agreements
the company reported second quarter net income of 126 mln dlrs or 41 cts per share compared with income of 75 mln dlrs or 25 cts per share a year earlier
mid state federal savings and loan association said it and first federal savings and loan association of brooksville ffbv reached a definitive merger agreement
the proposed boost is based on a government forecast that gross national product gnp will grow by more than 75 pct and the gnp deflator by 35 pct in 1988 against targets of 80 pct and 35 pct respectively this year they said
jan van moerbeke a male nurse said on coming off the herald of free enterprise that he had found six people on top of the vessel who were dead
deposits by the private sector rose an unadjusted 11 billion stg in february and by a seasonally adjusted 175 billion stg
items on the agenda for the meeting which is scheduled to begin at 0830 edt are grain quality issues status of proposed regulations financial matters and safety matters the department said
saudi arabia decides to accept brazil credit
clearing and delivery of the program will be via the short term paper clearing institute of the dutch central bank
the program would establish better relationships between producers and veterinarians and eventually lead to a quality assurance program in pork production according to the plan
nova corp says it is considering a takeover bid for dome petroleum
lotus development corp said it has signed a letter of intent to acquire substantially all of the assets of computer access corp for undisclosed terms
the bank which offered six mln dlrs at the auction reported demand for 134 mln dlrs
kleer vu industries said the companys board authorized the sale of its neslemur co its cosmetic and toiletries company
malhotra said the rate of monetary expansion must be kept under control in the second half of the current financial year
west germany also opposed to the oils and fats tax will advise the meeting formally later today it cannot countenance other proposals that could hit german farmers they added
both leaders stressed the long ties between france and the united states during a welcoming ceremony in the white house east room with reagan describing france as americas oldest ally in war and peace i have come to tell you that we are remain motivated by the same ideals of freedom by the same will to face the dangers which we both confront terrorism war hunger poverty new diseases and drugs chirac replied
frost and sullivan inc frsl increases payout
charter crellin inc crtr year net
the british conservative government said it would sell off its remaining 317 pct shareholding in british petroleum co plc bpl during the next financial year which starts on april 1
it said the name change should take effect next week along with a nasdaq ticker symbol change to alfao
the sec has a long standing policy against confirming or denying the existence of investigations
tertiary industries provide services to manufacturers and a downturn in manufacturing profits will adversely affect service industries he said
loral corp lowered by standard and poors affects 640 mln dlrs of debt
brentwood brwd files suit
in the past three years multifoods has substantially altered its domestic business mix by divesting its us consumere foods operations and emphasizing growth in selected segments of the us foodservice industry
borden also said the divestment of three operations with about 50 mln dlrs a year in sales is expected to produce nearly 45 mln dlrs in cash for use toward the purchase of new businesses
qtr ends may 31 shr 20 cts vs eight cts net 509043 dlrs vs 202473 dlrs revs 2106462 dlrs vs 1158621 dlrs nine mths shr 58 cts vs 50 cts net 1465271 dlrs vs 1240773 dlrs revs 5854819 dlrs vs 4640687 dlrs
it said the transcanada bid seems to require favourable and substantial taxation concessions from the federal and provincial governments but dome added that its management and financial advisers will evaluate all proposals
chemlawn corp said its board rejected waste management incs 27 dlr per share tender offer and urged its shareholders not to tender their shares
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 111 billion stg while a rise in note circulation and bankers balances below target will take out around 120 mln stg and 20 mln stg respectively
we want to move slowly and safely so that we do not make a mistake and undermine confidence in the exchange physical rubber trading was launched in 1985 with coffee added in january 1986
sterling was also supported by signs of a weakening in the west german and japanese economies where growth for 1987 is trailing behind the three pct forecast for the uk recent opinion polls showing britains ruling conservative party ahead of opposition parties in popularity have also supported the pound
it said the buyers include an investment group composed of the units management
the us currency dipped sharply earlier this week after a month of relative stability after an agreement by six major industrialised nations in paris on february 22 to stabilise their currencies
enserch corp said it called for redemption on may 4 1987 all of its outstanding 16 3 4 pct sinking fund debentures due 2007
the belgo luxembourg economic union bleu moved into a narrow trade surplus of 47 billion francs in 1986 after a 1404 billion franc deficit in 1985 figures given by a spokesman for the national statistics institute show
renouf corp ltd said it sold its 1083 pct stake in nzi corp ltd to brierley investments ltd bil for 2077 mln nz dlrs
sprinkel added that if west germany and japan made progress to stimulate their economies as the paris agreement envisaged there would not be the necessity of significant declines in the dollar one dealer for a us based bank noted the dollar tended easier after the remarks
the world banks one billion luxembourg francs of seven pct eurobonds due 1997
japanese officials say they are implementing the report as fast as they can said a european ambassador who has travelled the country asking about this issue
the bank of thailand estimated overall lending by the thai banking system grew 38 pct in 1986 against a 12 pct expansion in bank deposits
5300 also said it is continuing to discuss with various financial groups about possible financing for such a move but gave no indication of when any financing or proposal would be finalized fisher said
montedison spa monimi has acquired a 70 pct stake in plant cell research institute pcri of california from atlantic richfield co arcn for several tens of millions of dollars a senior montedison executive said
assistant us treasury secretary david mulford said yesterday that the reluctance of these banks had nearly jeopardized the deal at one stage
dow chemical co said it increased prices by nine cts a pound solids for styrene butadiene latex and plastic pigments effective may one
simultaneous with the offering wainoco said it intends to redeem its shareholder value rights attached to each common share at 10 cts per right
shr loss 18 cts vs profit 11 cts net loss 15 mln vs profit 868000 revs 293 mln vs 411 mln year shr loss 41 cts vs profit five cts net loss 31 mln vs profit 409000 revs 992 mln vs 2317 mln
c and w has also been pushing hard for permission to lay a new cable between japan and the us the proposed merger has sparked an international row with british government sources threatening retaliatory action against japan for what they see as discriminatory practices against foreign firms
circle express terminates planned acquisition of overland express
bp oil said 1985 profits had been depressed by exceptional items
aar corp air 3rd qtr feb 28 net
a bank of japan spokesman confirmed that the newspaper report was basically correct
the accord on the loan for indonesias 21 development projects was signed by the visiting indonesian finance minister radius prawiro and ex im president takashi tanaka the spokesman said
the company said as consideration for services to be renedered it has agreed to grant richter five year warrants to buy 231000 common shares at 32 cts each exercisable starting in march 1988 and a negotiated fee on completion of any transaction
these brands and winchester represent less than one pct of rj reynolds tobacco usas total sales which were 47 billion dlrs in 1986
proceeds will be used mostly for debt reduction
emerald homes lp said its general partners declared an initial 30 ct per unit distribution payable may 15 to unitholders of record march 31
she estimated a takeover price would be at least 15 dlrs per share
the issue is available in denominations of 5000 dlrs and is convertible from may 20 1987 until march 20 2002
shr 19 cts vs 12 cts net 850000 vs 432000 sales 9850000 vs 4783000 avg shrs 4504000 vs 3527000 nine mths shr 57 cts vs 37 cts net 2400000 vs 1281000 sales 252 mln vs 128 mln avg shrs 4233000 vs 3485000
the company said the offering will be sold through shearson lehman brothers inc drexel burnham lambert inc and tucker anthony and rl day inc
similarly southern nsw wheat might better be shipped to portland or geelong in victoria
early this afternoon the fed also is expected to supply reserves permanently effective thursday by offering to buy all maturities of treasury bills
refinery crude runs in the four weeks were 1221 mln bpd up 22 pct from 12 mln a year earlier it said
willis faber plc said its 208 pct holding in stockbrokers morgan grenfell group plc mgfll was not up for sale
yukio honda director of mitis industrial electronics division denied that japanese chipmakers were selling at below cost in third countries
total food aid needs in 69 of the least developed countries declined in 1986 87 as requirments fell in many countries in africa the middle east and asia the us agriculture department said
top us treasury and federal reserve officials had said the same
its going to be a long and tedious process but thats whats happening he said
shr 58 cts vs 38 cts net 4628650 vs 3041407 revs 450 mln vs 281 mln
indonesian tea cocoa exports seen up coffee down
sources close to the ministry said south african negotiators had worked out a favorable agreement on repayment of 13 billion dlrs of debt after a standstill agreement expires on june 30
weatherford also said the holders of the preferred stock will have the right to elect two additional directors to the board of directors
the west german government expressed support for the us position in opposing the proposed european community tax on vegetable oils and fats a us embassy spokesman said
the rate on the shorter term floater will be reset quarterly at 55 basis points over three month libor while the rate on the longer tranche will be reset at three month libor plus 65 basis points
there had not been a declaration of force majeure on contracts to ship minerals abroad
greenspan sees evidence dollar fall over
american aircraft corp buys private firm
the itc found that brazilian orange juice imports have injured us producers
india yesterday bought two cargoes of white sugar from london traders for april may shipment and granted the trade houses the option to sell an additional two cargoes at the same price for may june shipment the firms involved said
drexel burnham lambert inc is acting as dealer manager for the offer the companies said
the offer is inadequate said douglas augenthaler an analyst with ef hutton noting that it does not represent the needed premium over the companys fundamental value based on earnings estimates
unadjusted merchandise figures show a surplus of 168 mln against 36 mln in january and 22 mln in february 1986
north american philips corp is raising 100 mln dlrs via an offering of debentures due 2017 yielding 8809 pct said sole manager morgan stanley and co inc
shr 96 cts vs 87 cts net 108 mln vs 9671000 revs 1039 mln vs 975 mln nine mths shr 273 dlrs vs 262 dlrs net 307 mln vs 293 mln revs 3257 mln vs 3028 mln
oil stocks in western europe were 1474 mln tonnes down from the 154 mln tonnes on january one but still equivalent to 94 days of consumption
for the year bayou reported a net loss of 14 cts or 116793 dlrs compared to a net income of 23 cts or 203372 dlrs
the central bank purchased bank bills outright comprising 119 mln stg in band one at 9 7 8 pct 144 mln stg in band two at 9 13 16 pct and two mln stg in band three at 9 3 4 pct
enskilda securities said saab scania hopes to activate the program soon
some dealers said not too much should be read into bakers and yeutters comments
the exchange said it did not know when the yen bond futures contract would be approved the the cftc but that cftc provisions require that new contract submissions be acted upon within one year after submission
the banks loan loss provision for the first quarter ended january 31 rose to 223 mln dlrs from 187 mln dlrs in the year ago quarter
hamburgische l b issues australian dlr eurobond
piedmont aviation pie board to meet today
the peso proceeds can be invested in selected industries under the philippines debt equity program
small businesses may account for vat annually instead of quarterly
sumita repeated that the japanese economy may gradually recover in the latter half of the 1987 88 fiscal year ending april 1 1988 provided exchange rates stabilize
he saw a growing likelihood that other countries would follow perus action in setting a 10 pct debt payment limit in the face of trade and other factors beyond debtors control such as minimal bank lending
pittston pco agrees to acquire wtc waf 
gencorp gy names financial advisers
a clear difference between the pressures already being felt by importers and exporters was that consumers would have been happy to agree on a formula for future quotas even if it could not be imposed now
paramilitary police were guarding steel mills at reinosa in northern spain from the daily protests against planned job cuts
shr profit five cts vs loss 40 cts net profit 669000 vs loss 4256000 revs 461 mln vs 438 mln avg shrs 139 mln vs 105 mln nine mths shr profit 42 cts vs loss 23 cts net profit 5529000 vs loss 2219000 revs 1522 mln vs 1396 mln avg shrs 133 mln vs 9489000 note current year net both periods includes 1800000 dlr gain from sale of property
utilicorp said the proposal to create a new class of stock if approved will authorize 20 mln shares of class a common stock with a par value of one dlr
indirect trade between china and seoul is growing but is not officially publicised
charge against earnings for loan losses 1743000 dlrs vs 2743000 dlrs and net chargeoffs 1636000 dlrs vs 3865000 dlrs
however the institutes criticised the government not only for the timing of the reform but also because the question of its financing had been left open
sales were 944 mln dlrs
citicorp can afford it he said
agriculture and services were included in the negotiations for the first time
brazils sarney renews call for war on inflation
shr loss five cts vs profit six cts net loss 12 mln vs profit 14 mln revs 1149 mln vs 1093 mln nine months shr profit one dlrs vs profit 84 cts net profit 237 mln vs profit 199 mln revs 4309 mln vs 4354 mln note results are in pro forma form
it also said rafael collado has assumed the positions of president and chief operating officer in addition to his role as chief executive officer
ed faber who took over as chairman and chief executive officer revamped the companys royalty plan which help quell much of the franchisee dissent
manufacture of the 911 and 928 models rose six pct to 11122 from 10533 units but production of 924 and 944 models was cut by 12 pct to 14754 units from 16848 and would be cut further the report said
xicor inc xico offering of 18 mln shares of common stock through montgomery securities and smith barney harris upham and co inc
a group of affiliated investment firms led by bermuda based fidelity international ltd and boston based fmr corp told the securities and exchange commission it raised its stake in mcgill manufacturing co inc
last year the netherlands planted a record 137600 hectares of sugar beet and produced a record 12 mln tonnes of white sugar substantially more than the countrys combined a and b quota of 872000 tonnes
the change in the dates was based on the companys desire to have the additional common and 25 cts preferred shares trade for the shortest practical period of time on a when issued basis following a favorable shareholder vote at the annual meeting june 24 it said
he told journalists the exact decline would depend on dollar developments
india has signed a trade protocol to buy up to 15000 tonnes of asbestos fibre from zimbabwe in exchange for indian goods including jute bags and cars
iraq rejected its opec quota of 1466 mln bpd and produced 175 mln bpd in february and early march the figures showed
coradian corp said a group led by privately held sage equities group agreed to buy a 76 pct interest in coradian
api said the decline in domestic production and the rise in demand brought petroleum imports to about six mln barrels a day in february a 303 pct increase from last years level
commenting on february growth of the broader monetary aggregates the fed said that m 2 fell 16 billion dlrs while m 3 rose three billion
shr loss 76 cts vs profit 50 cts net loss 19186000 vs profit 12438000 sales 1579 mln vs 1492 mln note fiscal 1987 net loss includes a pretax charge of 195 mln dlrs from restructuring and an after tax charge of about seven mln dlrs from debt prepayment premiums
proceeds will also be used for working capital purposes primarily to finance inventories and accounts receivable and to acquire capital equipment and expand manufacturing capacity miniscribe said
american president aps to lease more ships
qtly div 14 cts vs 14 cts prior pay may eight record april 17
and they did a lot better in the second half of the year estimates of profits from the firms wholly owned swire properties ltd unit range widely from 500 mln dlrs to 700 mln compared with 570 mln dlrs in 1985
schlumberger ltd slb 3rd qtr net
from 1981 to 1985 its losses totaled 87 mln canadian dlrs
s p may downgrade mark iv industries iv debt
curry is currently executive vice president of utah international bhp said
in 1985 the surplus was 1748 billion dlrs
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
it said one offer its directed to its class a common stock holders and another to holders of its 8 1 4 pct debentures due march 1 1989
broking house officials in the sri lankan capital colombo yesterday told pakistan had suspended the licences in order to link tea imports to pakistani exports
citibank said friday it told the sec its earnings could be reduced by 50 mln dlrs after tax in the first quarter and 190 mln dlrs in the year if it has to declare 39 billion dlrs of medium and long term brazilian loans non performing
consolidated bathurst sees better market
taco bell recently acquired 99 pct of calnys outstanding stock calny said
cpc said although the extent cannot yet be determined the company expects that 1987 earnings per share will increase by substantially more than the previously estimated 20 pct increase over 1986 in 1986 cpc earned 230 dlrs per share
the feds intervention was on the morning after president reagans state of the union message and was in a manner consistent with the joint statement made by us treasury secretary james baker and japanese finance minister kiichi miyazawa after their january 21 consultations
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
earlier the bank revised its money market liquidity forecast from a flat position to a deficit of around 350 mln stg
woolworths 1986 income rose to 214 mln dlrs or 325 dlrs per share compared with 1985s profit of 177 mln or 275 dlrs per share
the sources said the council was likely to tell miti it should end its 50 year old protection of the industry
they estimate the levy at around 100 ringgit a tonne at current prices and said they are not prepared to accept it because a big portion of malaysias cocoa exports officially estimated at 112000 tonnes in 1986 goes to non members
finlands national oil company neste oy neoyhe said in a statement it had agreed with canadian firms to study the feasibility of building a plant in edmonton canada to produce a replacement for lead in petrol
but since the introduction of a complicated book entry system for bill purchases in january 1986 foreign governments and central banks have shied away from buying the bills the sources said
ici today announced the formation of a new us drug company ici pharma which with its stuart pharmaceuticals unit it said will double its current pharmaceutical sales to 11 billion dlrs by 1990
the treasury said the us share of bridge financing for argentina would come from its exchange stabilization fund
the proceeds will refinance existing group liabilities it said in a statement
masco corp mas holding 44 pct of emco has agreed to purchase 330 mln dlrs of the debentures
the company attributed the loss to competitive pressures which have cut gross margins
the growing debt burden of latin american and african nations will also provide impetus for the gatt round to succeed he said
trading is at an absolute nil nobody wants to get involved ahead of next weeks meetings one dealer with a us bank said referring to the group of seven industrial nations and the international monetary fund meetings in washington
the yield on the bills for sales to banks and securities houses from money houses will be 39497 pct against the 39375 pct discount rate for two month commercial bills and the 443 32 pct yield on two month certificates of deposit today
meatpackers strike morrell sioux city plant
the arbitration proceeding was called after emerson electric charged am general violated an agreement covering the development of certain components in the contract
ryder system rdr sells notes and bonds
the purchase consisted of the following cargoes cargill sold 15035 tonnes of number two soft red winter srw wheat for may 5 30 shipment at 11744 dlrs per tonne fob gulf ports
chase cmb buys borg warner bor unit
robin relph of london
the minister was not referring to the us trade data to be released in washington later today
exchange rate and oil price fluctuations will continue to condition the dutch economy in the future as it has in recent years the cpb said noting a continued depressing impact of these factors on dutch competitiveness
occidental oxy in big peru heavy oil find
this compares with 29 pct in april and 27 pct a year earlie
allis chalmers ah on s p creditwatch developing
debartolo and campeau later engaged in a bitter battle for control of allied with campeau winning out later in october when it bought a block of 258 mln shares of allied stock or 48 pct of the total in a controversial move made only minutes after it dropped its hostile tender offer
all alterations must be approved by the bundesbank west germanys four major banking associations and the federal banking supervisory office
it said the debentures may be exchanged at any time prior to maturity unless previously redeemed for shl systemhouse common shares at an exchange rate to be determined at the time of the sale of the debentures
while political manuevering by small producers and consuming countries will be important us officials said the key to any future outcome will be brazils position
oper shr 52 cts vs 51 cts oper net 626013 vs 613127 sales 4544929 vs 4402572 note earnings exclude extraordinary securities loss of 29532 dlrs or two cts a share vs a gain of 81358 dlrs or seven cts a share
dryclean usa year net
it compared with a 195 billion dlr deficit in fiscal 1987
bass has for some time regarded overseas holidays as an area for expansion and in pursuit of this objective acquired a 256 pct holding in horizon in 1985 when it set up the jointly owned hotel company
champion products inc said its board of directors approved a two for one stock split of its common shares for shareholders of record as of april 1 1987
siemens will have a 20 pct stake in the new company while jeumont schneider will own 80 pct
applied dna systems inc adna 4th qtr loss
merrill lynch pierce fenner and smith is a subsidiary of merrill lynch and co inc mer according to the court documents sofer is a principal in both plenmeer and meda establishment and vaskevitch has an interest in plenmeer
belgian government to cut financial requirement
the us push for iadb reforms which began at last years meeting in costa rica is particularly sensitive in an institution latin americans have traditionally thought of as their own
moodys will also consider the implications of possible defensive measures that borg warner may undertake
if there is such a provision it is private and if i talked about it it would no longer be private said the official who asked not to be identified
bank of england resists pressure for rate cut
the association said all purchases exceeding 20 pct of a companys voting stock shouls be made only through a tender offer open to all shareholders
fujitsu ltd itsut group year ended march 31
but general partners said it plans to keep gencorps headquarter in akron ohio
renato ugo a member of montedisons management committee told reporters that stanford research institute international of menlo park california had acted as a partner in the purchase itself acquiring a stake in pcri of under 10 pct
this throws up the economic abyss of recession in the us with obvious knock on effects on the rest of the world but some economists added that wall streets crash which dragged other major markets down with it may help curb the very problems that sparked the turmoil namely world inflation fears and the massive and persistent us trade deficits
french oilseeds experts added the principle of a single tax regardless of varying quality was clumsy and capable of unneccessarily alienating exporters such as the us
at a rally in this city about 100 km northwest of sao paulo about 5000 bank workers voted to strike on march 24 unless their demand for 100 pct pay rises is met
pillsbury psy files for second burger king mlp
greater new york savings bank grtro 3rd qtr
the company said also before the merger san bar would barry k
shr 25 cts vs 31 cts net 4798000 vs 5380000 revs 653 mln vs 582 mln avg shrs 192 mln vs 175 mln year shr 84 cts vs 89 cts net 15750000 vs 15191000 revs 2621 mln vs 2158 mln avg shrs 188 mln vs 171 mln
mine owners in malaysia have welcomed the atpc export curb and asked the government not to issue new mining licences
for the moment the sentiment is of wait and see on rate cuts but there are now more optimists than pessimists among market operators a dealer for a major french bank said
combined management and underwriting fees are 50 basis points
the dollar closed in tokyo today at 17730 35 marks and 14135 yen
cooper industries inc asked the federal trade commission to vacate a 1979 order that requires the company to get ftc approval before making certain acquisitions the ftc said
miyazawa says bakers remarks were aimed at just reaffirming louvre agreement
there will be a utilization fee of 1 16 pct when more than half the facility is in use
it said it will review the companys management strategy and financial plans
it was agreed to conduct reviews of the reference price every 15 months instead of the current 18 month intervals
the central bank will issue licenses to procure foreign exchange in accordance with guidelines set by the council
the eight major new york city banks had 64 mln dlrs in average borrowings from the federal reserve in the week to wednesday february 25 a fed spokesman said
ecuador energy and mines minister javier espinosa teran said last night his country needs 120 mln dlrs to repair the damage to the export pipeline caused by the earthquake
banco santander signed a letter of intent with bank of america bac to purchase its west german affiliate bankhaus centrale credit ag cc bank the bank said in a statement amplifying an earlier report from frankfurt
they are public documents and there is nothing secret about it he told 
at the same time the industrial countries see little evidence of a strengthening of economic activity and the fund forecasts they will grow 25 pct
sibson defended the new rules saying we have to steer a course between representing the interests of the major market makers and the less desirable goal of representing everybody in any event he said the size of the market has expanded to the point where the former minimum size requirements were just too small
a us agriculture department official said 0 92 for all 1987 crops would save 300 to 400 mln dlrs and more than 15 billion dlrs over five years
pacific gas said the accounting change was prompted by delays in the receipt of a california public utilities commission decision on the companys 1984 application for rate relief to recover the 58 billion dlr cost of constructing units one and two of the diablo canyon nuclear power project
following a ruling earlier this year from the federal high court deutsche had included its non bank holdings in the balance sheet section participations christians said
eastern europe production could be 129 mln tonnes against 133 mln in 1986 87
global petroleum gnr ups heavy fuel prices
in addition a rise in note circulation and bankers balances below target will each drain around 110 mln stg
in its original announcement yesterday usda had said the offer included three mln dlrs for the export of lumber excluding plywood
the underwriting margin is 10 basis points over australian dlr bank bill rate and the underwriting fee is 75 basis points
fcs fcsi receives merger proposal
finally of course and there is no need to keep this quiet the cut in interest rates was also in line with the changed economic situation of the last few months he added
ibm calls 250 mln dlrs of 9 7 8 pct notes for redemption
it simply demonstrated the united states will take military action when they iran take military action norman polmar a defense analyst and author said
1st qtr to march 31 working profit 48750 mln rand vs 55959 mln tax 27428 mln vs 30215 mln net 26432 mln vs 30099 mln tonnes milled 374 mln vs 372 mln gold production 30865 kgs vs 30236 kgs gold revenue 84605 mln rand vs 90736 mln working costs 35856 mln vs 34777 mln avg price per kg 27371 rand vs 29964 note full name of company is gold fields of south africa ltd gldfj
twa also said in the filing with the securities and exchange commission that its chairman carl icahn is the target of an sec probe of alleged violations of securities laws
i think that bps bid is a very strong affirmation and clear signal that they have confidence in the us and they think the barrel of oil in the ground is going to go higher said sanford margoshes of shearson lehman brothers inc
bell group confirms standard chartered stake
parent bank net profit 20 mln marks vs 20 mln
he said reduced capacity in the chemical industry and the weakened us dollar would also contribute to the companys improved performance
funaro has said brazil acted to protect its reserves but wanted to avoid a confrontation
a spokesman at first chicago corp fnb said it is premature to put brazils loans on a cash basis
he omitted the token prepayments in previous announcements but said there was nothing secret about them
under the pact pacific state will become part of the us bank branch system
shr profit one cts vs loss two cts net 74000 vs loss 122000 revs 17 mln dlrs vs 14 mln nine months shr profit five cts vs loss 10 cts net profit 299000 vs loss 624000 revs 51 mln vs 37 mln note3rd qtr ended january 31
qtly div 51 cts vs 51 cts prior pay april one record march 23
swedish export credit sek has launched a novel 220 mln australian dlr bond which will give the investor the option of receiving interest and principal in australian dollars or marks warburg securities said as lead manager
treasury secretary james baker went out of his way to reassure markets of his commitment to a stable dollar with a statement and french finance minister edouard balladur underscored that by saying i dont believe at all that the americans want a weaker dollar west german finance minister gerhard stoltenberg said the dollars latest rapid descent involves the risk now already a tangible threat of a new strong surge of inflation leading to a renewed rise in interest rates but there were signs too that while policymakers feared the market uproar they seemed to accept there was little they could do until the economic picture changed and currencies settled into a stable pattern as a result
mr
cheyenne chyno buys interests in properties
clabir clg dividends not taxable
the soviets want a new sugar pact to have only a single category of members who would all share the costs pro rata to their share of world sugar trade
in a filing with the securities and exchange commission the group said it bought the stake which amounts to 53 pct of the total outstanding common stock to acquire an equity interest in the company for investment purposes
cohn said the bank stocks may be risky until numbers on non performing loans are reported for each bank
we think japanese consumers should have the same freedom of choice as our consumers
rent a center inc said it filed a registration statement with the securities and exchange commission covering a 35 mln dlr offering of 25 year convertible subordinated debentures
although only a minority interest is likely to be sold to the public the prospect of privatization at a time of increased competition is forcing air canada to pay more attention to finances analysts said
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
european operators offered 854000 tonnes of sugar into intervention to protest about export rebates which they say are too low
february trading encompassed a new daily record of 66087 contracts on the 19th of the month exceeding the previous record of 61398 which had been set on february 6 liffe said
he said the crucial issue in the debate was whether member states were willing to push further towards the ecs goal of monetary integration on the basis of an ems that included management of exchange rates by some kind of common institution instead of by national central banks as at present
current season cumulative movement was 60480375 gallons versus 59654702 last year
us imports of coconut oil during january totaled 829 mln lbs compared with 480 mln lbs in december and 1065 mln a year earlier according to commerce department figures
welbilt corp welb 4th qtr net
throughout the talks which began on march 9 producers had strongly opposed a consumer proposal to lower the reference price and the lower indicative price or floor price of 150 cents in the present pact if the buffer stock currently 360000 tonnes reached 450000 tonnes
gillette canada inc is issuing a 70 mln stg bond due october 30 1993 carrying a coupon of 9 5 8 pct and priced at 101 1 2 morgan stanley ltd said as lead manager
8 1 4 pct bonds due march 1 1997 at a price of 9950 pct to yield about 832 pct to maturity
the company also said 1987 capital and exploration spending of 420 mln dlrs will be 160 mln dlrs lower than last year due to the uncertain short term outlook
although moodys cited standard chartered banks long standing position in a number of regional markets and improved risk control procedures it pointed out that the bank still lacks the stabilizing effect of a more significant presence in the uk market
money market dealers had earlier expressed mixed views on a possible quarter point cut
ferruzzi announced last week it had agreed in principle to buy the cpc operation for 630 mln dlrs
but it was notable that funaro did not meet with the creditors immediately affected the commercial bankers he added
s and p also upgraded to a and a 1 from bbb plus and a 2 respectively the certificates of deposit of american securitys lead bank american security bank na the rating agency said the actions reflected the firms merger with what it termed a stronger maryland national corp as well as americans improving performance
the company said the product lines it acquired had sales of 25 mln dlrs last year
moreover argentina is requesting only 195 billion dlrs in new loans compared with mexicos 77 billion and is paying 7 8 pct for most of the money instead of the 13 16 pct charged to mexico
china where the affected areas have received between 40 and 75 pct of normal rainfall will have to wait for the may september rains it said
westinghouse electric corp chairman douglas danforth said he was encouraged by first quarter results for fiscal 1987 and said the company was positioned to capitalize on the economys modest growth for the rest of the year
rice research institute names new head
but most said that the market need not fear tighter policy either
in addition to system utilities computer associates also sell products for microcomputers while uccel has made inroads in the applications software market where analysts said it has been successful with accounting and banking systems
atlee burpee co to a new company formed by wicks capital corp bankers trust new york corp bt and burpee management for undisclosed terms
this shows that the impact of energy prices on inflation is behind us in terms of the move from 15 dlrs to 18 dlrs per barrel said maria ramirez of drexel burnham lambert inc
the argument over buying non member cocoa is closely linked to the one over differentials for different qualities
he added that real gdp growth of three pct in 1986 was due to a six pct increase in real internal demand and a three pct real drop in the contribution of the external sector
the coupon has been fixed at 4 1 4 pct
the worlds deadliest single peacetime incident at sea was the sinking in 1912 of the titanic with a loss of 1500 lives
the strong recovery of the first six months continued into the second half although uk cement demand rose only modestly
aegon said it has written off 657 mln guilders in goodwill for monumental corp
lle said the working interest owner to which the irs sent a notice about a deficiency in the owners 1983 tax return is evaluating the necessity of escrowing some funds which would significantly reduce royalties paid to the trust
rowe furniture corp rowe 1st qtr feb 28
adding piedmont dominant in the southeast to the mix would develop an even stronger force
qtly div 11 cts vs 11 cts prior qtr pay 30 april record 15 april
allied lyons plc alldl and canadas reichmann brothers are working well together as partners and currently do not plan any change in their joint ownership of distiller hiram walker gooderham and worts allied lyons chairman derrick holden brown said
new orleans guanta 9387 mt bulk hss 3000 13 days 25 4 5 5
venezuela will limit new loans to 50 pct of the interest and principal it repays on its 31 billion dlr foreign debt president jaime lusinchi told political leaders
standard microsystems corp smsco 4th qtr net
taurus said the acquisition is expected to increase its annual sales to about 100 mln dlrs and make it canadas largest footwear manufacturer
standard and poors corp said it downgraded bethlehem steel corps debt securities
in a filing with the securities and exchange commission southeastern a memphis tenn
oilmeal demand still strong in us soviet union
service control said the offer is conditioned on receipt of at least 534806 shares
he gave no other details
the loan is for 17 years including four years of grace with a variable interest rate currently 792 pct the bank said
it made the statement after talks with canadian officials about press reports and speculation in canada that some exporters were not paying the charge
bills maturing in official hands and the treasury bill take up would drain 957 mln stg wile exchequer transactions and a note circulation rise would take out 15 mln and 25 mln respectively
earlier toshiba information systems uk ltd said it wanted to enter the british business facsimile and key telephone market
sao paulo state presidente prudente nil votuporanga nil franca nil catanduva nil sao carlos nil sao simao nil
report on export markets for us grain delayed
the ec commission decided to open a special daily export rebate today for maize exports to morocco israel canary islands and zone 5c sub saharan africa trade sources said here
lilco also said its board authorized contracts for its corporate officers calling for payment of one years salary and continuation of insurance and retirement benefits if the company changes hands and these officers lose their jobs
it is difficult to believe that while efforts are made to solve the problem of the developing worlds external debt decisions are being taken which cut earnings used for repaying those debts he said
french industrial production rose a seasonally adjusted three pct in february after an unrevised 198 pct fall in january the national statistics institute insee said
it would allow the government to issue 1000 5000 and 10000 yen coins without special legislation although higher valued coins would still need a special law the official said
an importers association official said that even if the department no longer imports sugar we would not necessarily buy more this is because the association would still have to compete with the cooperatives wholesale establishment cwe he said
swearingen predicted an increase in operating profits for 1987 because he sees higher income and reduced expenses
the data we have in hand do not provide clearcut evidence that the deterioration in the trade balance has yet been reversed volcker said in remarks prepared for delivery to a luncheon for community leaders here
the majority of the 170 billion dlr merchandise trade deficit in 1986 was with japan
on friday night exporters said they had heard of the closure from ibc officials but the officials could not at the time be reached for confirmation
although in line with the latest organisation for economic cooperation and development oecd estimate of 21 pct growth the forecast will be balanced by growth in investments and exports balladur said in an interview with the daily les echos
cytrx cytr unit buys swedish company
mueller a member of the bundesbank council in his position as president of the regional state central bank in bavaria noted that the bundesbanks decision in january to cut leading interest rates amid continuing strong monetary growth had led some people to think it was dropping monetary targetting
wiehn added that babcock was still aiming for a three pct yield on turnover
last week nakasone ruled out japanese military or financial help to patrol the waters of the gulf
uk budget seen boosting government bond market
the units sold were sunbeam corp ltd australia sunbeam new zealand ltd and victa uk ltd
innovex president thomas haley said the exchange is non dilutive and will cause a slight increase in innovexs fully diluted earnings per share during the last half of fiscal 1987
leader development corp said shareholders at the annual meeting approved the acquisition of privately held clinton american corp and two related partnerships for 3450000 common shares with the transaction to be accounted for as a pooling of interests
we look upon it as a temporary measure to get over the current balance of payments difficulty
denominations are of 1000 and 10000 canadian dlrs and listing is in luxembourg
the netherlands largest insurer nationale nederlanden nv nttnas natned said it expected at least unchanged results in 1987 after reporting 1986 net profits up 53 pct to 6355 mln guilders from 6034 mln in 1985 revenues increased by 05 pct to 1735 billion guilders after 1727 billion the previous year and the dividend was raised to 250 guilders per share from 238 guilders in 1985 corrected on a capital increase
1986 net both periods includes charge 6300000 dlrs from elimination of investment tax credits
domestically mhi is involved in 12 national projects including development of nuclear fusion reactors and launch vehicles for man made satellites
the company did not give specific figures
it said the results also included earnings from gasoline operations of 2500000 dlrs or 11 cts per share caused by unusually high gross margins on gasoline sales of 127 cts per gallon that were caused by rapidly falling oil prices
calgary based independent analyst james hamilton has said in recent reports that amoco corp an has also been in talks with dome
the company said it will seek shareholder approval of the reverse stock split at the annual shareholders meeting scheduled for june 18
shultz is set to arrive in moscow april 13
dupont unit raises crude oil postings
service control bids for american service
as the dollar today slipped to a record low below 145 yen making japanese exporters and holders of dollar investments grit their teeth harder finance minister kiichi miyazawa said there was a perception japan had reneged on its promise
oak said the acquisition is part of its two tier strategy of buying releated and unrelated businesses
qtr ends jan 31 shr six cts vs eight cts net 103436 dlrs vs 134360 dlrs revs 1762270 vs 1282463
remaining shareholders would have until later this month to sell their shares to stora the company said in a statement
the bank of france announced that it will publicly auction 105 billion francs of negotiable treasury bills on march 16
it said the payments were suspended because of certain covenants contained in its loan agreements
3rd qtr 1986 includes pre tax gain of 65 mln dlrs from sale of mci airsignal subsidiary and after tax extraordinary loss of 17 mln dlrs from early redemption of 9 1 2 pct subordinated notes
affiliated which owns the company that publishes the boston globe said the acquisition will give it a strong position in the growing market for specialty magazines
damaging effects were seen in the fields most of which show stands with a yellow brown cast indicating extensive leaf and possible root damage from repeated freezings he said
a union spokesman in rio de janeiro told about half the seamen had returned to work after accords with 22 companies and that the strike looked close to an end
neither perelman nor his spokesmen returned telephone calls seeking comment
they sold a net 153 mln dlrs of stocks down from 681 mln in the previous month
bank of china branches in hainan island also accept deposits in singapore dollars and those in wenzhou zhejiang province accept deposits in dutch guilders the paper said
mexico bought 51000 tonnes of us number two yellow soybeans in an overnight tender for various ocean and rail shipments in may private export sources said
owens illinois which was taken over by a group led by kohlberg kravis roberts and co said financing incurred in the takeover includes a 550 mln dlr bridge loan provided by a bank group 200 mln dlrs provided by two common stock partnerships and 600 mln dlrs of junior subordinated notes due sept 17 1988 which were sold to an affiliated of morgan stanley and co inc
officials in malaysia indonesia and thailand which produce the bulk of the worlds rubber said they expected the new pact to continue to stabilise prices and help their rubber industries remain viable in the long term
the rise however partly reflected the inclusion of the first full business year of three acquisitions made in 1985
the issue is callable at 106 pct declining by one pct per annum to par thereafter but is not callable until may 7 1993 unless the share price exceeds the conversion price by 130 pct or the issue is more than 95 pct converted
manhattan national corp mlc 4th qtr loss
unocal raises most crude prices 50 cts today wti at 1750 dlrs
the declines were a result of the tax reform act of 1986
new cooper basin gas pool discovery reported
dome said the 120 billion dlr fourth quarter charge resulted from a year end accounting change made under new full cost accounting guidelines by the canadian institute of chartered accountants
saudi oil minister sees no need to alter pact
the study predicted demand rising by 300 tonnes to 13200 tonnes this year against a 50 tonne increase in supply to 14050 tonnes
the senate agriculture committee is expected to take up a bill tomorrow that would exempt from government conservation regulations those farmers who have rotated alfalfa and other multiyear grasses and legumes with row crops committee staff said
they said de mel will propose to imf officials that sri lanka trim its budget deficit and control its balance of payments by cutting back on development projects and other government spending
the trustee is bank of america national trust and savings association in san francisco and the paying agent is bankers trust co new york
the banks agreed to similar amendments to the covenants last year and first city has reduced its borrowings from 120 mln dlrs at 1986 yearend to 685 mln dlrs in recent weeks
in accordance with article 51 of the united nations charter i wish on behalf of my government to report that united states forces have exercised the inherent right of self defense under internation law by taking defensive action in response to attacks by iran against united states vessels in the gulf walters said
he said he does not foresee a major pick up in economic activity but does not believe the economy will slip into recession either
japanese brokerages are consistently heavy buyers of us treasury issues
a producer who did not enroll in the 1987 acreage reduction program may become eligible by signing up no later than july 15
manpower fertiliser and other costs have been cut back as farmers feel the pinch of the rise in interest rates over the past six months coupled with low bean prices
the usda started the pik certificate program in an effort to free up surplus grain that otherwise would be forfeited to the government and remain off the market and in storage
liquidity is expected to remain tight over the next month and this will put upward pressure on interest rates
napco international inc is full name of company
dealers said it was more likely that the alteration in this item on the weekly return indicated normal commercial foreign exchange business rather than intervention by the central bank
more he said they had decided in a meeting that if the marines take over the ships the seamen would abandon the vessels and let the marines handle the situation by themselves
poland has said it will not be able to meet interest repayments and debt principle falling due this year
pacific gas two diablo canyon units generate about 22 mln kilowatts of electricity in full operation
the state then sells the grain at subsidised prices to chinas 200 mln city residents
cbt traders see lower soybean export inspections
japan ex im bank says no new commitments to brazil
gte gte unit to sell infortext products
of all polled companies 23 pct rated their export order books to be above normal and 53 pct described them as normal while only 23 pct believed export orders were below normal levels
the fob market for wheat started easier but here again selling pressure lifted around midday
turnover was up to 129 billion stg from 12 billion
shr 135 dlrs vs 153 dlrs net 42137000 vs 47792000 loans 1026 billion vs 997 billion deposits 765 billion vs 763 billion assets 1184 billion vs 1200 billion note current qtr figures include 33 mln dlr charge resulting from penalties for prepayment of fhlb borrowings
it said spending is expected to advance to 215 mln dlrs in 1988 and 220 mln dlrs in 1989
valor makes home products
japanese bank economists polled by said the economys 18 month old slowdown is likely to end in the first half of this year helped by rising exports stepped up government spending and falling prices
we reached a very sensitive compromise there were no real winners or losers some european community delegates were not satisfied that important points were fully discussed during the talks and as a result doubted the rules can deal with world surpluses as effectively as they could have delegates said
besides the financing it would raise through a bank syndicate bank of america has also agreed to provide a separate 25 mln dlr for the limited purpose of partial financing and has committed to provide another 592 mln dlrs redstone said
prudential insurance co and manufacturers hanover corp mhc the companys principle lenders will receive as collateral a pledge of stock in tidewater subsidiaries that own interests in oil and gas ventures offshore indonesia
eishiro saito chairman of the federation of economic organizations keidanren said the yens present rate is well above adequate levels
hyponex hypx files for debt offer
gardner said he believes shareholders could get a better deal than the buyout offer 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
manila said to offer debt bonds to banks
federal express corp fdx offering of 200 mln dlrs of senior debentures due 2017 through kidder peabody and co inc
shell eastern petroleum pte ltd mobil oil singapore pte ltd caltex asia ltd singapore petroleum co pte ltd and bp singapore pte ltd are pricing 97 octane at 968 cents
meinert reiterated an earlier comment that earnings for the remainder of the year must double the 1986 level to meet that goal
the banks latin american exposure mainly through its 51 pct owned marine midland banks inc mm appears to have improved substantially analysts said
warner communications and its subsidiary said the berkey stock is held as an investment which they will review and evaluate from time to time
on the one hand its probably a cheap price
chinas heilongjiang province boosts gold output
merrill lynch capital markets co managed the deal
the bundesbank did not intervene as the dollar was fixed lower at 18162 marks after 18270 yesterday dealers said
executives of first boston inc harcourts financial adviser did not return a telephone call seeking comment
the department also lowered the terminal price of hard red spring wheat at minneapolis and duluth by 32 cents he said
the other dealers are union bank of switzerland and morgan stanley international
it said it may add to its stake or sell some or all of it but has no plans to seek control of the company
equiticorp tasman to bid for monier ltd
us export inspections in thous bushels soybeans 20349 wheat 14070 corn 21989
it also had 106 mln extraordinary income in 1986 remaining after provisions from the sale of its maremont corp subsidiary in the united states
in the first stage poclain reduced its capital to 91 mln from 455 mln by reducing the nominal value of its shares to 10 francs from 50
the next reading of the economys health should come early next week with the release of gnp figures for the last quarter 1986
in santa fe and entre rios provinces they were over 100 mm in places in misiones and san luis 90 mm and in cordoba 80 mm
the extra credit provided at market rates covers extra costs incurred due to building delays a ubs spokesman said
german bankers remarks revive talk of rate cut
his expectations of a satisfactory profit were based on a combination of price rises and cost cutting he added
that was not my impression of the meeting funaro said but if the british answer is more or less like this then that means nothing is helping to find a solution funaro stressed that his talks in washington last week and in europe this week were aimed at gaining official support to unblock lending from official credit agencies rather than to deal with brazils ties with commercial banks
ec oils tax canada corn ruling opposed by panel
dutch green coffee imports fell to 10430 tonnes in january from 13506 tonnes in january 1986 and exports fell to 366 tonnes from 615 the central bureau of statistics said
kloeckner werke ag klkgf should have turnover this year around 1985 86s 24 billion marks though more growth is likely in engineering in coming years management board chairman herbert gienow said
the holders have indicated their intention to tender and to reach an agreement with the company michigan general said
sharp deviations from these guidelines would result in consultations between the countries on whether corrective action should be required
producers met this afternoon to review the market situation but had only a general discussion about how further negotiations should proceed a producer delegate said
qtly div 70 cts vs 70 cts prior pay may one record april three
combined international corp said it will ask shareholders at the april 23 annual meeting to approve the doubling of authorized common shares to 120 mln
snow said purchases on that scale now are unlikely
india will get 10465 mln stg as grants from britain to develop its coal zinc and lead industries the british information services said in a statement
the prospect that other banks will follow industry leaders citibank and chase manhattan in raising their prime rate is likely to cast a pall over the credit markets today economists said
shr profit 55 cts vs loss 12 cts net profit 3998000 vs loss 915000 sales 938 mln vs 809 mln nine mths shr profit 171 dlrs vs profit 95 cts net profit 12641000 vs profit 7282000 sales 2609 mln vs 249 mln note 1986 figures include a five mln dlr or 65 cts a share charge for electronics restructuring and 17 mln dlr charge from early retirement of 12 mln dlrs in long term notes
danforths concerns that the special committee did not have sufficient time were expressed to walters in a telephone conversation and reiterated in a letter from counsel on monday of this week
prime minister brian mulroneys government appears to want to avoid a dome sale to a foreign company since the government gave dome hundreds of millions of dollars in tax breaks to encourage oil and gas exploration in the arctic analysts and officials have said
sosnoff currently owns about 133 pct of caesars world
march eight shr loss 31 cts vs loss 47 cts net loss 256 mln vs loss 394 mln sales 3981 mln vs 3223 mln avg shrs 916 mln vs 900 mln nine mths shr loss 44 cts vs loss one dlr net loss 327 mln vs loss 844 mln sales 136 billion vs 108 billion avg shrs 912 mln vs 896 mln note twelve and 40 week periods
straits trading co ltd stcmsi year
terms of the acquisition were not dislcosed
they are definitely going to have a manpower problem one swiss banker said
to encourage further international use of the yen the ministry is considering allowing the issue of euroyen commercial paper the official said adding that it is studying demand from potential borrowers
among canadas largest oil companies class a shares of imperial oil ltd imoa 70 pct owned by exxon corp xon is trading at 71 up from a 52 week low of 34 3 4
the official who played a key role in developing the us debt strategy and is an administration economic policymaker also said these new ideas would help commercial banks improve their role in resolving the third world debt crisis
a swiss official said the brazilian delegation had made no demands
japanese crushers buy canadian rapeseed
operating revenues 54 billion guilders vs 59 billion
boc group inc s airco distributor gases finalized the sale of its virginia based gas appaturs business to controls corp of america a newly formed investment group organized by former airco employees
after expecting improvements in two previous quarterly surveys 56 pct of respondents reported working at less than satisfactory levels with insufficient orders nominated by 70 pct as the major constraint
if predictions of a 30 pct decrease in plantings prove true australia may not be able to supply wheat to some of its valuable markets he said in a statement
the fed spokeman could give no reason for thursdays high float but he said that about 750 mln dlrs of wednesdays float figure was due to holdover and transportation float at two widely separated fed districts
but rostenkowski set the tone of the trade debate by saying im not trying to write legislation to please lane kirkland
it does not approve of a decrease in prices from current levels and it also does not accept a mad increase that would drive consumers away and make them try and find alternative sources for energy opec agreed last december to cut production after world prices hit new lows in 1986
the fed is sitting fairly pretty now
oper shr loss 10 cts vs profit nine cts oper net loss 387000 vs profit 313000 revs 6486000 vs 5613000 year oper shr loss two cts vs profit four cts oper net loss 96000 vs profit 120000 revs 238 mln vs 213 mln note 1986 oper excludes extraordinary gains of 299000 for qtr and year
interim div 26p vs same
french bonds for 445 billion francs approved
mitsui and co to issue eurodollar warrant bonds
effective march 19 the new prices are 03 pct sulphur 2250 dlrs up one dlr 05 pct sulphur 2175 dlrs up 175 dlrs 07 pct sulphur 21 dlrs up 125 dlrs
ame president c
also the role of the developing countries has been emphasised in this particular meeting
saudi arabia is the architect of the current pricing and production pact which is backed by kuwait and the uae
nynex nyn unit files to offer debt secutities
orion broadcast group inc said its majority owned orion financial services corp subsidiary has agreed to purchase fn realty services inc from ford motor co for 1200000 to 1500000 dlrs in cash and notes
friedman industries inc frd quarterly div
again the company said it expects discussions with the other possible investor to conclude shortly
saudi arabias opec assigned output quota is 4133 mln bpd
in bangkok thai industry minister pramual sabhavasu said thailand would keep to its 19000 tonne quota and added this would not cause the local industry hardship at current prices
qtly div 16 cts vs 16 cts prior pay april one rcord march 20
he said his bill would allow private suits for damages for failure to meet the federal reserves 50 pct margin requirements
the purchase price is subject to an increase on a dollar for dollar basis to the extent that the net worth of first presidentail exceeds 4100000 dlrs at the time of closing the company said
as part of the agreement dixons said cyacq corp the audio video investor group that includes citicorp capital investors ltd agreed to promptly terminate its existing tender offer for all outstanding cyclops common at 9250 dlrs per share
diplomatic sources in bonn said funaro would leave early tomorrow morning for zurich after meeting stoltenberg this evening
the local dollar is expected to depreciate steadily in the early part of the coming year and by next march reach 575 on the reserve banks trade weighted index which is based on a basket of currencies
the euro commercial paper program allows for the issuance of notes with maturities of up to 183 days
the baltic international freight futures exchange biffex said it agreed to pursue negotiations with other futures markets on the baltic exchange with a view to merging into a new futures exchange
in raising their prime rates banks cited a higher cost of funds
on the interbank market there has been an increasing trade in banks cds estimated to be some eight billion markka
the federal agency said it was the second straight gain for goods producing industries
in its annual report and in a briefing for reporters the bank made it clear however that the latin countries needed vast amounts of new investment if they are to strengthen their ailing economies in the period ahead
a spokeswoman for the chamber of mines said philippine copper production amounted to 222644 tonnes in 1986 down slightly from 226157 tonnes in 1985
the malaysian government said it is issuing 16 billion ringgit worth of loan stock on the domestic money market a treasury statement said
china has to feed one quarter of the worlds population but only one seventh of its land is arable
dividend payable may 25 books close april 28 to may 6
mikulic introduced a law cutting wages to the level of the last quarter of 1986 and tying future rises to productivity
feds heller says dollars level is appropriate
shr 15 cts vs 13 cts net 8753000 vs 7804000 avg shrs 326 mln vs 232 mln note includes gains of 41 mln dlrs or 12 cts vs 33 mln dlrs or 15 cts from tax loss carryforwards
romo leroux resigned last week for personal and family reasons the spokesman said
the bankers are not the only ones to be upset by the protracted negotiations surrounding the agreement
these measures include freezing management salaries abolishing vacant positions and reducing overtime
he told a news conference at the trade fair here that by the mid 1990s turnover should reach between six and seven billion marks mainly through acquisitions totalling several hundred million marks kloeckner reported in march higher profits in its engineering sector which enabled it to raise profits by nearly a third in the 1985 86 year to 452 mln marks from 338 mln
pyable april 20 record april eight
will this still be so at 138 or 130 asked republics cohen
sumitomo bank has 500 mln stg cd program
but some bank economists said the lower rating would increase the cost of national borrowing to finance the external current account deficit which rose to a record 345 billion crowns in 1986
entourage international inc said it had a first quarter loss of 104357 dlrs after incurring 70000 dlrs in costs for an internal audit a report for shareholders and proxy soliciation and 24000 dlrs in startup expenses for opening london offices
the company said first tuskaloosa shareholders will receive 1978825 shares of amsouth stock for each first tuskaloosa share held when the merger is effected april 17
in many cases prices are still lower than those attained in 1984 it said
shr loss 89 cts vs loss 17 cts net loss 139 mln vs loss 1996000 revs 204000 vs 2087000 note 1986 includes writedown of 125 mln dlrs for the costs of mineral properties and deferred exploration and development bullmoose lake in the northwest territories
venezuela possibly unique among oil exporters requires its clients to sign final destination clauses to ensure its oil is not resold on the spot market
year ago shr figures reflect 2 for 1 split on april 15 1986
one issue will be 100 mln dlrs of sinking fund debentures due 2017
at 23 pct the proportion of companies rating their export books above normal was unchanged between february and march
s and p said the upgrade reflected the firms overall strong profile high quality earnings and cash flow and prospects for modest preferred and preference stock usage
in a filing with the securities and exchange commission twa which is controlled by carl icahn said it continues to closely watch the developments of usair which has an agreement to acquire piedmont aviation inc pie twa said it spent 1782 mln dlrs to acquire its 4043200 usair shares which amount to 148 pct of its total outstanding common stock
this slightly revises a previous deficit figure of 3717 billion issued by istat and compares with a negative balance of 23085 billion for 1985
american international group inc said it sold its south african subsidiary american international insurance co ltd to johannesburg insurance holdings ltd a holding company owned by a consortium of shareholders led by rand merchant bank
antara quoted him as saying indonesia is relying on its export drive to help narrow its trade deficit
clothestime inc ctme 4th qtr net
payment date is april 21 giving a short first coupon
they said these included the us agency for international development the world bank and its soft loan affiliate the international development agency
mexico denies british banks balking at debt deal
de croo in washington for talks with administration officials and congressional leaders said at a news conference there is a battle within the community on the tax on fats and oils used in the 12 ec countries
at an airport news conference howard denied opposition charges that his trip had been a failure because he had returned empty handed
aec inc aece sets regular payout
at midday here the dollar stood at 18340 45 marks
an argentine official here said no timetable was given for removal of the argentine export taxes
investment bankers said the next floating rate issue of new zealand or australian dollar denominated debt is probably a few weeks away
texas eastern pipelines tet the other competing pipeline to deliver spot gas from producing areas in the south closed its gate station for summer and brooklyn union has relied entirely on transco for spot supplies
coast savings csa in talks on buying bank
centel cnt sells debentures at 9233 pct
first american bank for savings fambo 3rd qtr
federal reserve board vice chairman manuel johnson said that the us s main industrial partners should expand their domestic growth
last year south korea had a trade surplus of 71 billion dlrs with the us up from 49 billion dlrs in 1985
computerland to be acquired by investor group
british compound feed production detailed
within the current account the services account had 300 mln marks deficit supplementary trade items a 200 mln mark surplus while transfer payments posted a 37 billion mark deficit
lajous said there was still excess supply and as long as this remains there will be a tendency to instability in oil markets but prices should remain around 18 to 19 dlrs during 1987 if output remains under control
he said they also did not reach a consensus on how willing international banks particularly those in japan and europe would be to lend the money
but he added trade imbalances would also be corrected by commitments from west germany and japan to stimulate their economies and by us efforts to cut the budget deficit and enhance us competitiveness
yet timber a five billion dlr a year industry is not necessarily the most direct economic product of the forests and nations must be educated in how best to farm them said peter kramer world wildlife fund wwf conservation director
worldwide the associations monthly survey showed that seismic exploration for oil and gas increased to 395 in february up three from the month before
he said the government had cut agricultural investment to three to four pct from 11 pct
the well in 260 feet of water was drilled to a total depth of 14629 feet it said
inspiration consolidated copper co a subsidiary of inspiration resources corp said it is lowering its base price for full plate copper cathodes one half cent to 6650 cents a lb effective immediately
but if draws are at the higher end of the estimated range they added the effect will be bullish
products made at the plant represent less than 1 10 of one pct of du ponts annual sales it said
argentine grain market review
miles said despite last years rapid expansion in cathays flights and fleet load factor is still holding up at 70 pct
hanover insurance hins get split approval
it added hertz rental cars westin and hilton international hotels in a strategy to become a travel service company
shr profit 78 cts vs loss 38 cts net profit 3108000 vs loss 1510000 revs 355 mln vs 471 mln year shr profit 242 dlrs vs loss 201 dlrs net profit 96 mln vs loss eight mln revs 1572 mln vs 1822 mln note includes extraordinary gains of 22 cts per share and 36 cts in the fourth quarter and 1986 respectively
chacin told reporters the foreign partner will provide capital as well as technical and marketing expertise to the carbozulia project which the state oil company will manage
dutch industrial production falls 64 pct in april
us money growth slows sharply economists say
a spokesman for the economics ministry in bonn said there was no political motivation behind publishing the figures on june 11 the day after the venice economic summit ends
taiwan overnight bought 450000 tonnes of us number two corn 145 pct moisture for gulf and west coast shipment in 11 cargoes between may and october private export sources said
honduras seeking pl 480 bulk wheat april 13
each warrant is exercisable into 100 shares of common stock of japan synthetic rubber
a merger at the tender price is to follow the offer which has been approved by the harper and row board
dealers attributed the late rise to remarks by prime minister yasuhiro nakasone that major nations had agreed to stabilise the dollar above 150 yen
beaver creeks two offices will re open as branches of citizens on monday
the company did not name an underwriter for the sale
taken together these changes should yield 60 mln stg in 1988 89 lawson said
the first paid will be the trading community and those connected with texaco in the shipping industry one new york trader said
changes in the us cotton program also could lead to increased acreage analysts said
the joint committee of taiwans maize importers awarded contracts to five us companies for seven shipments totalling 340000 tonnes of maize for delivery between september 1 and december 20 a committee official said
systems 4 has revenues of 15 mln dlrs a year hogan said
bankers and businessmen said the conference will air problems facing commerce and industry after last years slide in oil prices and examine ways to promote higher investment in a private sector sorely short of finance
concord fabrics inc cis 2nd qtr oper net
h and h oil tool co hhot 4th qtr loss
however given the significant current interest in the company we also feel that we should carefully review all the options available
yamamoto admitted that oki electric industry co s hong kong subsidiary had sold chips at an inappropriate level but denied that it was dumping chips at rock bottom prices
federal industries ltd said it introduced a commercial paper program with an authorization of 440 mln dlrs through agents bank of montreal dominion securities inc and wood gundy inc
firstcorp fcr sees gain on condemnation
sallie mae says it will price 300 mln dlr floating rate note offer monday
oper shr loss 12 cts vs loss 10 cts oper net loss 474270 vs loss 369848 revs 202500 vs 111210 avg shrs 3904373 vs 3495579 year oper shr loss 28 cts vs loss 46 cts oper net loss 1069550 vs loss 893612 revs 408031 vs 438933 avg shrs 3785607 vs 1944627 note full name is north american group ltd earnings exclude losses on reorganization expenses of 33453 dlrs or one ct a share vs 59520 dlrs or two cts a sh are in the quarter and losses of 237859 dlrs or six cts a share vs 413444 dlrs or 21 cts a share for the year earnings exclude gains on discontinued operations of 147671 or four cts a share in the 1985 quarter and gains of 760603 dlrs or 20 cts a share vs 520200 dlrs or 27 cts a share for the year
other interest holders in the kerna four well are santos ltd stoss 50 pct delhi 30 vamgas ltd 10 south australian oil and gas corp pty ltd 10 pct
foster reported after tax earnings of 28 mln dlrs 26 mln dlrs and 354 mln dlrs for 1986 1985 and 1984 respectively
other smaller components included in the total all showed increases
plans to retire or refinance high cost debt should improve the companys credit quality s and p added
us steel production rose 13 pct in week
rickels a home center business has faced problems due to the state of that industry and has reported lower returns as an operating unit according to analysts
moodys investors service inc rates the unocal notes baa 3 and standard and poors corp rates them bbb minus
in response to questions from the henley spokesman said the filing was as of december 31 1986 but that the company still holds the shares
japan denies plans to cut duties on chocolate
pittston agrees to acquire wtc international in exchange of stock
for discontinued operations it reported a loss of 95 mln dlrs compared to a year earlier loss of 922000 dlrs
speaking to a news conference following the pdvsa annual assembly hernandez said pdvsas income from oil sales had dropped to 72 billion dlrs in 1986 down 45 pct from last years 133 billion
the 100000 tonnes of corn sales to algeria are for delivery during the 1986 87 season it said
south africas new foreign debt agreement sparked a rally in local financial markets but bankers and economists said the pact removes only one source of anxiety from a still depressed economy
commenting on the article he said the details of the package have not yet been settled
fruehauf posts 203 mln dlr 1986 loss
in 1984 after three months of painstaking negotiations the us government reached accords with seven steel exporting nations australia brazil japan mexico spain south africa and south korea to reduce their shipments to the united states by about 30 pct in 1985
in a newspaper advertisement the company said the offer proration period and withdrfawal rights will expire april one unless extended
japan auctions 1000 billion yen short term paper
hong kong firm ups wrather wco stake to 11 pct
they said that due to the dispute between the commission and producers over the issue it is not clear whether the commission will authorise any exports at all or grant licences on a large tonnage
bhpgm will pay 440 mln dlrs for bhps gold interests excluding its stake in papua new guineas ok tedi mining ltd and those interests held by bhps utah international inc the bhp statement said the issue will be made to shareholders registered on march 27
galileo electro optics corp said estimated earnings for the second quarter ended march 31 1987 will be over current analysts estimates of 40 cts to 45 cts per share
rober kill has withdrawn their proposal to acquire the companys stock for 2350 dlrs a share
ecuadors consumer price inflation was 23 pct in 1986
conagra cag to acquire monfort mmft 
the company said the purchase of american will allow it to meet the needs of a broader range of direct mail industry customers
canada northwest energy ltd said it reached agreement in principle to sell one mln preferred shares by way of private placement to raise 325 mln dlrs for oil and gas exploration
the manila newspaper sunday times published 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
home shopping hsn to purchase tv station
taiwan said its foreign reserves suffered about 34 billion us dlrs in exchange rate losses from july 1986 to february 1987 as a result of the rise of the taiwan dollar against the us currency
sassan was heavily damaged by an iraqi air raid only 10 days before abu al bukhoosh was attacked
some us lawmakers have proposed canadas share of the american market be limited to 24 pct
nogales said he did not expect bolivias debt repurchase to become a model for other debtors in dire straits
dutch cocoa processors are unhappy with the intermittent buying activities of the international cocoa organizations buffer stock manager industry sources told 
co lead managers are dbcm and sbci
cannon can sells stake in hbo cannon venture
they said ibc president jorio dauster is likely to leave the basic formula for the minimum registration price unchanged but raise the contribution quota to partially offset the effects of cruzado devaluation since april registrations were closed in mid february
us corn exports represent only about five pct of the canadian market
the central bank now has to clear remittances exceeding one mln us dlrs earned from exports shipping and insurance and bank lending plus remittances of more than 10000 dlrs from any other source
meanwhile the port and transport union fnv attacked loss figures given for the port for this year
the property includes six gas wells one oil well two undeveloped drilling locations a central production facility and a gas gathering system
united telecommunications inc ut 1st qtr net
japan corporate profits in last 1986 quarter up
s african union objects to planned matthey move
am international inc reporting an operating loss for the january 31 second quarter said prospects for the balance of the fiscal year remain good
also included was also a 1128 mln dlr decline from a net redemption of canada bills
ec sugar import levies
the paper said the profit margin of mills in china fell to 47 pct last year from 1187 pct in 1980
morgan jpm says brazil nonaccruals may rise
the kenyan economy is heading for difficult times after a boom last year and the country must tighten its belt to prevent the balance of payments swinging too far into deficit president daniel arap moi said
machinea said argentina had world bank support
aluminum co of america aa regular dividend
the zairean economy wont survive without massive imf assistance
of those responding 70 pct were encouraged to deal more actively 25 pct which saw no change and five pct dealt less actively
malaysia cuts gazetted rubber price
leucadia said it bought the minstar stake to obtain an equity position in the company and has no intention of seeking control of it
total assets and liabilities of banks rose to 7760 billion dlrs in january from 7683 billion in the previous month and 6945 billion a year ago
holders converting through march 17 will be entitled to receive occidentals regular quarterly dividend of 62 1 2 cts per share on common stock that is payable april 15
in march sales of housewares furniture and big ticket items were stronger than apparel sales signaling to many analysts that apparel sales will be strong in april as the holiday nears
shr loss five cts net loss 90066 sales 328127 note company began opeations in april 1986
brandman chairman of domino of california inc a los angeles garment maker said he bought the stake for 31 mln dlrs for investment purposes
qtr and year 1986 excludes tax loss 1557000 and loss 151000 respectively
united cities gas co said it has acquired lyle propane gas co a cairo ga propane gas distributor for undisclosed terms
dutch insurer stad rotterdam anno 1720 nv asrnas said from july 1 it will own 20 pct of the shares of europeesche verzekering maatschappij nv a fully owned unit of swiss insurer union rueckversicherungs gesellschaft stad rotterdam chairman lucas van leeuwen told it may raise its stake to a majority interest if the two companies are found to be sufficiently compatible
it said in a statement that forecasts show a net cash withdrawal from the system
ended january 31 shr profit two cts vs loss one ct net profit 130000 vs loss 46000 sales 5042000 vs nil note 1987 includes gain of 112000 dlrs from sale
shr 17 cts vs five cts net 1442000 vs 393000 revs 9771000 vs 8052000 year shr 74 cts vs 23 cts net 6076000 vs 1875000 revs 349 mln vs 303 mln
an announcement late friday that the usda will lift the limited cross compliance requirement for the 1987 oats crop means farmers will be able plant an estimated two to three mln more oat acres this year than last without being penalized traders said
the company said it will entertain offers through march 30
the cost of living in north rhine westphalia germanys most populous state fell 01 pct in the month to mid march to stand 05 pct lower than at the same time a year earlier the regional statistics office said
king fahd of saudi arabia in an interview with and visnews on march 11 said the kingdom wanted oil price stability and called on non opec producers to avoid harmful competition with opec
basf 1986 world group pre tax profit 263 billion marks vs 304 billion
the west german governments independent council of economic experts believes a further stimulation of the economy is inappropriate government spokesman friedhelm ost said
continental bank initial distribution approved
clary corp 4th qtr dec 31 loss
shr profit one ct vs loss two cts net profit 27000 vs loss 69000 revs 295000 vs 264000 year shr loss eight cts vs loss three cts net loss 262000 vs loss 88000 revs 1004000 vs 1248000
edward markey d mass the chairman of the telecommunications and finance said at the start of a hearing on sec activities
the volume of contracts traded on the new zealand futures exchange nzfe reached a record 25559 contracts in february the international commodities clearing house icch said
this delicate question was not resolved at yesterdays meeting but lawyers from both sides will try to draft suitable language for a telex by midweek gros and the bankers said
the united states and the six major industrial countries are fully committed to implementing our undertakings in these agreements baker told the meetings
last year south africa repaid about 500 mln dlrs out of the 14 billion dlrs covered by the standstill
the economic costs of a preventive stability policy are less than fighting inflation once it has taken hold they said
hungary is to devalue the forint by an average of eight pct against western currencies the official news agency mti said
meatpackers respond to occidental oxy offer
wichita industries inc said it agreed to buy fountain oil and gas inc
waree said sayam bank was trying to recall about six to seven billion baht of loans extended by its previous private management and was taking legal action to collect another four to five billion baht of doubtful debts
nationals spirits brands include gilbeys gin and vodka dekuyper liqueurs and windsor supreme canadian whisky
australian crude output falls in first nine months
cable itself had issued no statement today on the issue
in addition they anticipated that considerable progress would be made in reducing the federal budget deficit
indias credit policy package for fiscal 1987 88 april march will help ease inflationary pressures and control the growth of overall liqudity the reserve bank of india rbi said in a statement
add to this the fact that manila has frozen principal repayents since 1983 while venezuela has amortised six billion dlrs in foreign debt since 1984 and will have paid back more than eight billion dlrs by the end of this year one added
shr 43 cts vs 25 cts net 76 mln vs 44 mln revs 720 mln vs 669 mln year shr 84 cts vs 72 cts net 148 mln vs 127 mln revs 2231 mln vs 2152 mln note 1986 4th qtr inludes gain of 26 mln dlrs on sale of real estate
the deal would also have given fujitsu 14 additional microchip production facilities worldwide eight of them in the us a report by the capel firm said
the first mortgage bonds were lowered to d p 7 low single a from d p 4 low double a and the preferred stock to d p 8 high triple b from d p 5 high single a it said
food department officials said the us department of agriculture approved the continental grain co sale of 52500 tonnes of soft wheat at 89 us dlrs a tonne c and f from pacific northwest to colombo
the company said the proposal will be considered at a regularly scheduled board meeting on march 17
comb said the proposal calls for its cable partners to receive about eight mln five year warrants in exchange for their 50 pct interest in cvn and commit to a long term affiliation agreement to carry cvn programming
compared with the year earlier quarter gdp also rose 11 pct the bureau figures show
so far our copper has been reaching its destinations without hindrance he told the times
carter joined metex in 1982 where he was formerly its executive vice president
he said that merging southern with kansas city will achieve the benefits of an end to end merger while preseving the independece of the southern pacific versus its existing prime competitor santa fe
the smelter also produced cadmium bismuth and indium
equity capital rose 23 pct to 29 billion dlrs and return on average equity rose to 175 pct from 102 pct in 1985
two further pacts are likely this month over the next two weeks
suspicion at present is focused on the ferrys main vehicle loading doors set close to water level
bankers said they are now moving into the new government securities market and the stock exchange of singapore dealing and quotation system
its 1986 revenues totaled 12 mln canadian dlrs
fed says it sets two billion dlrs of customer repurchase agreements
falling world oil prices last year helped cause a decline in soviet trade with the west to 130 billion roubles from 1416 billion in 1985
qtly div 2 1 2 cts vs 2 1 2 cts prior pay may one record april one
consumers and most producers see no point in reopening the quota dialogue while brazils position remains unchanged they said
lo said income from ship repairing almost doubled to 20 mln us dlrs in the year ended june 1986 compared with the previous financial year
sales 188 billion vs 178 billion other income 5275 mln vs 1522 mln shrs 56061 mln vs same
merrill lynch and co said investment banking revenues were strong in the first quarter rising to 2574 mln dlrs from 1529 mln in the first quarter 1986
corning said the prospectus regarding the merger is expected to be mailed tomorrow to all hazleton holders of record february 18
yesterday washington announced plans to slap as much as 300 mln dlrs in tariffs on japanese imports in retaliation for what is sees as japans failure to comply with the terms of the pact
swett said the government would also seek to refinance the 1429 billion dlr section of the debt owed to the paris club group of foreign governments though it would continue to service the debt with them
a company spokesman said the proposals appear to have been made in todays edition of the japanese daily asahi by fumio watanabe head of a telecommunications committee with the federation of economic organisations
the results were slightly better than analysts forecast and the share firmed to 231p from 222p at last nights close
colombo to defend waters india readies flotilla
the firm said haiti has been flooded with smuggled refined and unrefined sugar from the dominican republic and refined us sugar from miami
the board also elected phillip frost chairman succeeding john durkin who remains president and chief executive officer
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
swiss watchmaker smh societe suisse de microelectronique et dhorlogerie is issuing a 100 mln swiss franc 10 year bond with warrants to buy participation certificates lead manager union bank of switzerland said
eurodollar volume reached a record 78546 contracts last month against 70306 in september
it is guaranteed by mitsui bank ltd
the growth was attributed to the strength of non oil trade especially computers and computer parts electronic components and garments it said
financial corp of america said it is not holding discussions with anyone regarding a buyout of the company
chrysler will pay for renaults amc interests held in bonds by a 200 mln dlr bond and will pay up to 350 mln dlrs for renault share interests depending on amc sales and future profits the renault statement said
at last months council session a splinter group of small producers backed consumer demands for new quota shares based on exportable production and stocks while brazil colombia and the rest of the producers favoured leaving quota allocations unchanged except for some temporary adjustments
its silly not to take a look at making a merger or acquisition if youre a businessman you have to take a look the industry source said
there are a number of canadian companies that in order to secure substantial contracts in the united states have had to move their head offices out of our country into your country because you have national procurement requirements he said
basix corp bas 4th qtr loss
we are anxious to develop our life assurance business group managing director peter dugdale told a news conference
it said twa week filed a cursory application with the department of transportation for approval of its proposed 165 billion dlr takeover of usair
if the idea of land reform is to increase income levels production and employment then it wont happen he said
distribution of export quotas should be in the hands of producers as has been traditional dauster a delegate at the recent coffee symposium here told journalists
republic american corp rawco 3rd qtr net
the order empowers sec investigators to try to find out whether any persons including icahn violated securities laws and related rules icahn said
only 13 hours after the statements were released the bundesbank reduced short term interest rates by offering banks liquidity at a fixed bid rate of 380 pct down from a 385 pct facility rate offered last week
dixons group plc said it does not plan to extend the expiration date of its tender offer for any and all common shares of cyclops corp beyond tonight
they also helped a major improvement in the trade balance
the movement of the market to the upside will be enhanced by the shift to coke but he said shearsons aerospace analyst today removed boeing from the firms recommended list taking it from a buy to a hold
the ec gathering begins tonight with a dinner but the main discussions will take place tomorrow
shr 16 cts vs 55 cts net 232000 vs 814000 revs 224 mln vs 22 mln year shr 207 dlrs vs 243 dlrs net 3108000 vs 3670000 revs 1067 mln vs 1011 mln note per share figures adjusted to reflect four for three stock split paid march 26 1986
we expect the ministry to give us permission by the end of april he said
jan 31 end shr 51 cts vs 38 cts net 3254000 vs 2423000 sales 659 mln vs 511 mln year shr 118 dlrs vs 115 dlrs net 7485000 vs 7285000 sales 2075 mln vs 1641 mln
according to the companies the acquisition is contingent upon the approval of libertys shareholders and the appropriate regulatory authorities
opec output for the second half of 1987 including that of iraq will be above the official 166 mln barrels per day bpd output ceiling agreed by opec saturday kuwait oil minister sheikh ali al khalifa al sabah said
morrison knudsen corp said its earnings for 1987 are likely to be lower than those for 1986 due to lower than expected growth in engineering and construction and a previously predicted decline in earnings of its national steel and shipbuilding unit
stoltenberg calls for new brazil talks with banks
the company said a detailed audit and investigation is continuing
but hopefully you win them all in the end holden brown said
although yen bonds now rank second only to dollar issues in the eurobond market few foreigners are interested in keeping the yen they borrow and no one wants the yen bonds but the japanese they said
cyclops received a sweetened offer of 9250 dlrs per share from cyacq acquisition corp led by audio video affiliates inc ava
shr 52 cts vs 25 cts net 5154000 vs 2496000 revs 177 mln vs 144 mln nine months shr 116 dlrs vs 70 cts net 115 mln seven mln revs 503 mln vs 412 mln note 1987 periods include pretax investment income of 29 mln dlrs in capital gains distributions from mutual fund investment
treasury financial secretary norman lamont made the announcement to parliament
and if things turned sour they could turn very sour a source quoted them as saying
its a worthwhile activity from their standpoint because these debts are not going to go away in the next year or two he said
high point financial corp said it filed a registration statement with the securities and exchange commission covering six mln dlrs principal amount of redeemable subordinated debentures due march one and cancellable mandatory stock purchase contracts requiring the purchase of 666 mln dlrs in common no later than march one
the united states also has vented its anger at what it sees as japanese attempts to limit foreign participation
white house says us monetary policy correct
analysts applaud csrs bold move to sell delhi
1987 net includes 2400000 dlr gain from tax credit resulting in reduction of goodwill
the 174 mln tonne figure was revised from 176 mln tonnes
the facility will be for seven years and will allow the borrower to issue multi currency advances and sterling acceptances through a tender panel
more than 250 mln dlrs have so far been channelled into the industry in a bid to improve efficiency and profitability under the five year restructuring plan
qtly div 10 cts vs 10 cts prior pay may 13 record april 29
shr three cts vs three cts net 421000 vs 333000 revs 2103000 vs 2287000 avg shrs 16068000 vs 12041000
brazils interest payments moratorium announced last month is being seen as a major challenge to the baker plan
it was boosted by a three billion mark rise in mortgage business and a 11 billion mark increase in banking business
nippon steel denies china seeking japanese plants
but operators got their fingers burned as one by one the central banks signalled their displeasure
no details of the discussions here were immediately available
m 1 money supply data for the march 9 week will also be released
finance ministry officials said that the governments abolition of price and rent controls last year was responsible for nearly a quarter of a 09 per cent surge in january living costs
british sugar sowings off to slow start
as a result banks will be forced to provide fund management services for major clients seeking better returns he said
yesterday statistics canada reported gross domestic product expanded a slight 02 pct in the quarter
viacom said national amusements arsenal holdings inc subsidiary has raised the amount of cash it is offering for each viacom share by 75 cts to 4275 dlrs while the value of the fraction of a share of exchangeable arsenal holdings preferred to be included was raised 25 cts to 775 dlrs
inflation which was running at 21 pct at the end of 1986 is likely to rise to 29 pct at the end of this year ipecode said while the government has forecast 25 pct
also suggested was a deal involving put and call option regarding sosnoffs caesars world holdings he said
this issue was rated b minus by s and p
in order to expand participation by foreigners the syndicate must either expand the securities industrys 26 pct share or introduce auctions to the primary market they said
japans ex im bank announced a 900 mln dlr untied credit last month
pitt des moines inc pdm to acquire steel unit
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
ec foreign ministers issued a statement deploring japans continued trade imbalance and appealed for the country to make a greater effort to open up its markets
cineplex odeon corp said it agreed in principle to acquire the walter reade organization inc new york cinema chain from coca cola cos entertainment holdings inc unit for 325 mln us dlrs
in testimony before a senate committee baker said that throwing money at the debtor nations wont solve their problems he said it might seem like an easy solution to the debt problems and might appear a simple way to boost us exports and growth in the debtor nations
operating results for 1986 improved over 1985 and zenith was profitable in the second half of 1986 he said
lears aerospace group revenues for fiscal 1987 are expected to be about 700 mln dlrs said forstmann
in february 1986 the output index had stood at 1037 producing a year on year rise for february 1987 of 04 pct
of the 02 point contribution of foreign trade to gnp last quarter falling exports knocked off 02 while falling imports contributed 04 point
both ships were hit in the territorial waters of kuwait a key backer of iraq in its war with iran
some 40 producing and consuming countries are taking part in the two week meeting
avalon avl stake sold by deltec
turkish inflation increases in march
fnma had said the offering was a reopening of a 1972 20 year issue
italys la fondiaria to report higher 1986 profits
national convenience stores inc said it expects to report a loss for the third quarter ending march 31 due to continued poor sales in texas especially in houston
markel corp makl 4th qtr net
amcs large losses in 1985 caused principally by the international tin crisis were the reason behind the world group losses that year
volvo issues 70 billion eurolire bond
in terms of the economy 37 38 billion dlrs is infinitesimal so cuts of this magnitude will have little impact on the economy and the trade deficit said stanley collander a touche ross federal budget policy analyst
exports to bolivia chile ecuador and central america were also lower last year than in 1985 while shipments to brazil rose 115 pct to around two billion marks
empire co ltd said it will acquire all shares of sobeys stores ltd it does not already own under an arrangement approved by directors of both companies
but he said lebanon needed foreign support for its war battered economy now more than ever before
the company said results declined in the quarter both in its traditional oem business and its business systems group
interest payments on the notes will be made semiannually in us dlrs starting on sept 20 1987 sallie mae said
warburg said receipt of 2500000 shares would raise its interest in symbion to about 593 pct from 258 pct currently and give it control
oracle systems orcl files for offering
it said the strike was called to defend the nationalised mining industry
galileo electro optics corp gaeo 2nd qtr
the bonuses awarded averaged 3622 dlrs per tonne and the wheat is scheduled for delivery during may oct 1987
bsn bsn has purchased macgregor mgs stock
merrill lynch pierce fenner and smith inc has increased its underwriting commitment to 175 mln dlrs of subordinated financing debt for the viacom takeover from the 150 mln dlrs it agreed to underwrite earlier redstone said
argentina has a global foreign debt of 50 billion dlrs
issuing and paying agent will be chase manhattan bank na london
subscriptions close march 20
article 65 of the securities and exchange act japans version of the us glass steagall act separates commercial from investment banking
citicorp said only that the situation will be reviewed at the end of the current quarter
its lawsuit also alleges that harcourt failed to disclose the effect of the special dividend on harcourt 6 3 8 pct convertible debentures
but rostenkowski set the tone of the trade debate in a statement im not trying to write legislation to please lane kirkland
mellon bank corp said it expects to report a loss for the first quarter in the range of 55 mln to 65 mln dlrs or 213 to 215 dlrs a share
the pact agreed last year calls on japan to stop selling cut price chips in world markets and to increase its imports of american chips to reduce some of its huge trade surplus
patient technology inc pti year loss
ended feb 28 shr profit one ct vs loss four cts net profit 53040 vs loss 255568 revs 2252246 vs 755605 six mths shr profit three cts vs loss eight cts net profit 217884 vs loss 517538 revs 4895720 vs 1569662
a similar proposal is being fashioned by bruce morrison a house democrat from connecticut
shr 116 dlrs vs 119 dlrs net 1514 mln vs 1524 mln revs 131 billion vs 117 billion avg shrs 1300 mln vs 1276 mln 12 mths shr 303 dlrs vs 285 dlrs net 3927 mln vs 3530 mln revs 432 billion vs 414 billion avg shrs 1298 mln vs 1239 mln
the increase brings the companys postings for the west texas intermediate and west texas sour grades to 1900 dlrs a barrel
talks between the european community ec and the united states have failed to settle a trade dispute over pasta an ec commission spokesman said
asked why some features of the debt agreement such as the token prepayments of principal were not made public immediately he said these are very long documents and in a press statement you can only cover the key points
lyphomed lmed sells convertible debentures
shr 40 cts vs 25 cts net 1369602 vs 628193 revs 125 mln vs 4909369 avg shrs 3460217 vs 2610913 year shr 97 cts vs 54 cts net 2952830 vs 1414369 revs 370 mln vs 135 mln avg shr 3031494 vs 2609313 note prior qtr and year per share figures restated for 10 pct stock dividend of december 1986
consumer prices could be raised or lowered by a regulatory amount when market prices are below or above this level
however s and p said that if the amount of secured debt decreases meaningfully then the secured and unsecured debt could be rated equally
metromedia buys warrant for shares of orion
moscow supports free gulf navigation envoy says
japans constitution prevents its armed forces from being deployed overseas
about 1900 notes with a total face value of 19 mln dlrs and a market value of about four mln dlrs have been identified so far the company said
jakarta has also received loans worth 162 mln dlrs from the banks asian development fund
these will include an expected four to five billion franc issue for electricite de france to be followed by a bond of around one billion francs for auxiliaire du credit foncier a subsidiary of the banking group credit foncier de france and a new issue by tender from the mortgage agency caisse de refinancement hypothecaire
the poultry is for shipment november 1987 through august 1988 and the bonus was 47399 dlrs per tonne for the frozen fryer legs
itel corp said it completed the previously announced purchase of the container fleet and certain related assets of flexi van leasing inc for about 130 mln dlrs cash and marketable securities 30 mln dlrs in notes three mln shares of newly issued itel common and assumption of certain liabilities
the dividend will be 5475 cts per share up from 52 cts per shareit will represent a quarterly common stock cash dividend of 3650 cts per share on the share that will be outstanding after the stock split the company said
raytheon said a 10 pct rise in its first quarter net to 1018 mln dlrs reflected improved operations and a lower effective tax rate
the record date for the split is april 10 and certificates representing the additional shares will be mailed april 20
oracle said after the offering it will have about 285 mln shares outstanding
usda reports export sales activity
they said the fed may add the reserves indirectly instead via a large round two billion dlrs or more of customer repurchase agreements
riggs national corp rigso 1st qtr net
spectra physics spy mulls sale restructure
chrysler first a subsidiary of chrysler financial corp had receivables of 43 billion dlrs at the end of 1986
we have not been approached by mr
assets used to secure the debt included auto loans credit cars computer leases and corporate loans s and p noted
she said there was some resistance to further climbs
details of the proposal were not disclosed
the complex task of wielding control over monetary policy in an increasingly fast moving global economy could be aided by tying policy to commodity prices the newest member of the federal reserve board says
commercial paper outstanding nationally dropped 375 mln dlrs to 33663 billion
it said home savings had assets of 1506 mln dlrs in assets and interwest had assets of 3429 mln dlrs
mlx corp mlxx 4th qtr loss
year net 1986 includes operations of friedrich climate master inc which the company acquired in august 1985 for the full period while the comparable period for 1985 includes only operations from august 16 1985 to dec 31 1985
the board of directors of the california based baker had approved the merger
european beet plantings seen little changed
mts said it does not expect problems in obtaining new jersey and nevada regulatory approval for the acquisition since ownership in a caesars stake has already been cleared
agreements to sell both systems for a total of 100 mln dlrs were reached in october
this means that the current dollar selling is not of a sheer speculative nature but backed by real demand said koichi miyazaki deputy general manager at sanwa bank
other plants or parts of plants in pennsylvania indiana alabama ohio and chicago had been previously idled
the road to dignity has no return said a document issued by the pmdb
lyng said the us has been trying to reduce farm product output with expensive programs maki said
non communist steel output continues to fall
for air canada its acquisition of gelcos canadian courier business represents an excellent financial investment in a market it sees growing by 25 to 30 pct annually spokesman esther szynkarsky said
with inclusion of the corporate tax allowance qualifying domestic shareholders would receive an effective dividend of 1406 marks per share
the gain is slightly higher than the expected gain the company predicted in february because additional shares of the unit were sold
cardenas said the market situation was getting clearer because the trade knew the projected output and stockpile levels of producers
it ensures firm demand at tomorrows tender one dealer said
the european community ec farmers and farm cooperatives lobbies copa and cogeca have backed the ec commission plan for an oils and fats price stabilisation mechanism claiming it would not harm consumers
new zealand may buy us wheat usda
the spot riyal stood at 37500 05 to the dollar after 37506 09 yesterday
leaseway transportation corp ltc qtly div
they also pointed to yesterdays treasury note tender where the 400 mln dlrs of 13 week notes went at an average yield of 15473 pct down from 15870 last week
we will react to market factors adequately and colombia has no intention of giving its coffee away colombias past records should be the basis for upcoming exports he said
these were programmes they thought were necessary to stabilise market conditions and to help themselves attain better pricing conditions nazer said
we are making efforts to eliminate them with the help of balanced interest from all parties he said
senior reagan administration officials expressed warm support for the pins proposal this week which gave ongpin hope that the banks would embrace the idea
brougher bigi to sell 40 pct of subsidiary
cheung kong also reported extraordinary gains of 9836 mln dlrs mainly from the firms sale of the hong kong hilton hotel to hongkong electric holdings ltd hkehhk for one billion dlrs
shr 85 cts vs 77 cts net 258 mln vs 219 mln avg shrs 290 mln vs 271 mln nine mths shr 222 dlrs vs 214 dlrs net 679 mln vs 601 mln avg shrs 290 mln vs 265 mln note previously reoprted amounts restated for earnings of first northwest bancorp acquired in pooling of interests on july 31 1987
department spokesmen said the major cause for the revision downward in january sales was a weaker january auto dealer sales figure than originally estimated
a common currency system or ems style grid would in theory foster regional trade by providing a basis for stable exchange rates but nashashibi said inter arab trade is at a very low ebb and capital flows between gulf states remain small
the cash purchase price was not disclosed
taft broadcasting co stock rose almost three points today as its vice chairman and an investment group proposed to sweeten a takeover offer for the company
the non callable bonds will be issued in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
1986 net includes charge of 865000 dlrs from repeal of investment tax credits company corrects 1985 year per share operating net in table which originally ran march 10
hosposable products inc hosp 4th qtr net
first city industries inc fcy 4th qtr net
florida commercial banks inc flbk dividend
indications are that usda accepted algerias bid for 75000 tonnes of hard red winter wheat but rejected bids for the remaining 225000 tonnes under its export bonus tender us exporters said
the operation will put outstanding bill supply at about 4300 billion yen they said
however he said that the securities and exchange commission is reviewing its current regulations on the ownership of foreign securities by us citizens and that some softening in the rules could come in the not too distant future
details of the deal are likely be decided next week and the firm set up before the end of the month they said
texas utilities co txu 12 mos may 31 net
clancy currently serves on the exchange board of managers as chairman of its appeals executive pension and political action committees
it said aon is a gaelic word meaning unit
the breakout is pretty important said chartist leslie keefe of technical data corp of boston
knox said the world bank supported the economic stabilisation programme adopted by president victor paz estenssoro
most major us farm groups have lobbied hard against making any fundamental changes in the 1985 farm bill out of fear a full scale debate could expose agricultural problems to budget cutting pressures
after visiting the us england france west germany italy and switzerland funaro is now on his way to tokyo where he is to arrive on sunday for talks with japanese government officials as well as private bankers
developing countries said the european community ec would breach two international agreements if it went ahead with its plans for an oils and fats tax
the ministry accepted 50 pct of bids at the issue price
norway has offered 10 new offshore blocks to foreign and domestic applicants in the first phase of the countrys eleventh concession round government officials said
lawson says louvre currency accord satisfactory
bank of england does not intervene in money market
it also cited a three year debt recheduling agreement reached with international creditors in march as evidence of improved foreign perceptions of the south african economy
although greenspan is known as a committed anti inflation fighter in the volcker mould doubts are already surfacing in the us financial markets as to whether he has enough political clout and monetary experience to wage a tough campaign against inflation over the next year or two
alan hargreaves of hoare govett asia ltd also put jardine mathesons 1986 net profits at 450 mln dlrs and said he estimates pre tax earnings from retail operations at about 465 mln dlrs against 339 mln in 1985
but energy sector output fell nine pct and mining production declined seven pct
penwest inc penwo 3rd qtr may 31 net
volume in the simexs nikkei stock index based on the tokyo stock market has risen to a daily average of more than 1000 contracts this month from 320 contracts last october helped by uncertainty during the recent bull run in tokyo stocks fong said
this company could go for 10 times cash flow or 30 dlrs maybe 32 dollars depending on whether there is a competing bidder an arbitrageur said
french cereal exports through rouen fall
scientific micro said it acquired all the common stock of supermac in exchange for 105 mln shares of its own common stock
although the gravity of oil at the field seems to be low it seems to flow quite well and around 300 mln barrels could be recovered carol bell of phillips and drew told 
neworld has assets of 12 billion dlrs and 24 officers in massachusetts
a restrictive monetary policy would hit investment
cuba sugar crop seen at least same as last year
gonzalez said it was difficult to say how many banks would take up the exit bonds because no such instrument has been offered before
but in response to a question the executive said a volume falloff in the overall product category is a concern to us oreilly said weight watchers continues to perform well and will generate revenue in fiscal 1987 of approximately 940 mln dlrs
bankers expect that the maturities will be concentrated in the one to five year area
poehls policy has always been a policy which does not focus so rigidly on domestic factors but also on the external economy she said
it would also increase the gross national products of both countries
prices were off 14 to 20 1 2 cents with november off 19 1 2 cents at 543 1 2 dlrs
intense rains in recent weeks did not affect crops since rainfall was slight in most main soybean producing areas
adsteam said it expects to maintain an annual dividend rate of 36 cents on capital enlarged to about 149 mln shares by both issues from 9936 mln
the sterling grace capital management lp group said it is confident financing can be arranged if the japan funds board recommends the groups acquisition proposal
eyskens said liberalisation of capital movements without strengthening the ems would be an element of destabilisation in the community
american airlines to announce buys newspaper says
paris traders foresaw between 60000 and 100000 tonnes being authorised for export at a 4640 4650 ecu subsidy
xicor inc xico 1st qtr march 22 net
akzo said it would be difficult to maintain this profit level in 1987 but it expected positive developments in the longer term profits in 1985 totalled 843 mln guilders on a turnover of 1801 billion
texas international inc said it has received an unqualified audit opinion from auditor arthur andersen and co
st
dealers quoted three months at seven 6 3 4 pct and six month to one year funds at seven six pct
london coffee prices slid 300 stg per tonne in march to 1279 stg from 1580 stg at end february
this could involve moving cbt markets in us treasury bond futures treasury notes muni bonds and options on t bonds and t notes through an adjoining corridor while utilizing the midamerica floor for such cbt futures contracts as corn wheat soybeans soybean products and agricultural options
marketings will be very aggressive this summer when prices are usually high relative to the rest of the year due to the vulnerability of the us crop to bad growing weather
in 1987 venezuela will be required to pay 250 mln dlrs instead of the 155 billion originally agreed
corrected manhattan national corp mlc 4th
ccr video cccro gets offer on takeover talks
he said shade trees had been damaged by pests and this may have affected the crop though it remains to be seen how seriously
the bank forecasts the inflation rate will increase by 15 pct after its 07 pct rise in 1986
firemans fund corp ffc 3rd qtr net
aides to roberts said he had spoken to republican leaders who had been in contact with administration officials
were running out of special factors to keep the economy afloat said philip braverman of irving securities corp
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
while gold transactions in switzerland decreased the volume of trades outside the country particularly in london and luxembourg increased between 10 25 pct hofer said
it added that it expects future operating results to be improved because of the closing of the two warehouses
the banks would welcome us going to the imf
in a filing with the securities and exchange comission the group of firms said it holds 2430100 shares of digiorgio common stock
the cotton program stipulates a mandatory set aside of 25 pct of a farmers base acreage noted judy weissman of shearson lehman brothers
our company is shopping around because we feel its substantially less risky than pure exploration
the problem is that in these waters you can normally expect one working day out of four said daan kaakebeen of dutch salvage experts smit tak international of rotterdam
zambia has cleared its arrears to the imf for 1985 with a 145 mln dlr bridging loan from standard chartered bank central bank president leonard chivuno said
the country has set its export target for the year at 11 billion us dlrs against imports of 1805 billion dlrs compared with 1986 7s one billion dlrs of export earnings and 1113 billion dlrs of imports
argentine grain belt temperatures centigrade and rain mm in the 24 hours to 1200 gmt were max temp min temp rainfall buenos aires 24 12 0 bahia blanca 22 7 0 tres arroyos 22 8 0 tandil 22 7 0 junin 24 11 0 santa rosa 6 0 cordoba 23 12 1 santa fe 21 18 17
they said they might revive merger plans at a later date or seek other ways for clabir to increase its holdings in ambrit
it is premature to make any major changes in the farm bill he said but if agriculture has to make further cuts to meet budget goals a voluntary 0 92 plan would be better than sharply cutting target prices as usda has proposed
while consumer and producer member nations disagree how a buffer stock should be implemented both sides reiterated they were willing to compromise to come to agreement they said
for japan to achieve three pct growth in 1986 87 gnp in the january march period would have to grow 26 pct from october december the officials said
it showed nearly 90 pct of the respondents believed that the total number of market makers in three years time would be less than 20 while 46 pct thought the number would be less than 15
csr declares pioneer sugar bid unconditional
completion of the transaction is subject to a definitive agreement regulatory approvals financing and certain other conditions and is expected to close may one 1987 the company said
idaho power co ida sets quarterly
we hope the measures will help reduce our trade surplus this year especially with that of the us the spokesman said
another amendment would place a quota on us imports of casein a dairy product shipped to the us primarily by new zealand and ireland
malaysia said the success of talks opening today on a new international natural rubber agreement inra depends on how flexible consumer countries are
but a probable rise in inflation late this year could give very slight grounds for a rise in nominal rates at years end and next year it said
the talks followed an earlier round between the two trading blocs here last september and the first ever direct talks between the ec and the soviet union on establishing diplomatic relations in january
mulford defended the us strategy for handling the debt crisis and added additional steps like development by commercial banks of a menu of options to support debtor reform can be undertaken
statoil places north sea veslefrikk field orders
nyse says loral lor will not comment on stock
currently 22 foreign brokers are allowed to bid
us exporters report 100000 tonnes corn sold to algeria for 1986 87 delivery
hong kongs broadly defined m3 money supply rose 22 pct to 60717 billion hk dlrs in january after a 31 pct rise in december for a year on year rise of 233 pct the government said in a statement
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 290000 to 310000 head versus 309000 week ago and 328000 a year ago
lifestyle restaurants inc said it reduced the number of bombay palace restaurants inc common shares to be received in its previously announced merger agreement
others noted that exchange rates are stable after last months group of six agreement in paris and central bank money stock growth is still well above the three to six pct target zone so a change in credit policies could be ruled out
imports in october february fell to 59605 tonnes from 76044 in the same months a year earlier the sugar industry association said
tonights american petroleum institute weekly inventory report is expected to show moderate drawdowns in distillates and gasoline stocks for the week ended march 27 analysts and traders said
they said call money was still relatively high at 6 1 8 to 6 1 4 pct as a result of the tight set of bids accepted by the bank for the previous seven day facility
jucker told a news conference that the greatest drain on its financial resources had been stopped but after extraordinary charges the net loss of 688 mln francs in 1986 was only slightly under the 756 mln loss of the previous year
treasury secretary james baker said the floating exchange rate system has not been as effective as had been hoped in promoting stability and preventing imbalances from emerging in the global economy
the sunflower harvest moved forward in the centre and south of cordoba and santa fe and got underway in a few isolated areas of northern buenos aires
warren lavorel a us trade official defended the policies saying they did not violate gatt trade rules
analysts in the past have criticized ibm for not moving faster to integrate rolms telecommunications products with its computer systems
lupberger told the analysts that the companys primary objective is to create financial strength enough strength so that what happened to us and our stockholders over the past couple of years never happens again the company has faced regulatory challenges to rates proposed to cover the cost of its grand gulf nuclear plant
however warm temperatures over the past three weeks have promoted some early growth and will help the crop catch up on last falls late seeding it said
krupp has said previously that the work force cuts are necessary because of weaker conditions on the steel market
depending on prices traders said it would be likely for india again to buy more than the tonnage formally sought
it is purely coincidence he said
tcby enetrprises is a franchisor and operator of retail stores specializing in frozen yogurt related treats
in the july september quarter gnp rose 06 pct from the previous three months
there is no assurance the bank will receive acceptable offers or be sold but we feel this is a prudent step to take at this time the bank said
the total beet area in the european community is forecast to fall two pct to 185 mln ha against 189 mln in 1986
instead the investor receives one of the westpac perpetual floaters
under the agreement modulaire stockholders would receive 16 dlrs in waste management stock for each modulaire share
shr 162 dlrs vs 133 dlrs net 103 mln vs 8459000 revs 1275 mln vs 957 mln year shr 152 dlrs vs 120 dlrs net 9669000 vs 7481000 revs 2781 mln vs 23200 mln
while the asa position is to support a 502 dlrs per bu loan rate combined with a marketing loan haggard also endorsed a proposal by rep
one effect of this would be reduced atmospheric pollution
it said the merged company is now known as scan graphics inc and expects to be listed on the nasdaq system soon
he said the measures would include removal of trade barriers on insurance and inland services for us companies
it said the settlement arrangement calls for the company to establish a cash settlement fund of 355 mln dlrs which would be distributed to the bondholders after deductions for attorneys fees
supermarkets general sgl sells 11 drug stores
the company still planned to invest 700 mln guilders this year in restructuring and marketing heineken said
noranda inc said production will remain shut down at its fire damaged copper mine here until it can completely examine the mine
gaspe mines is the name of the noranda division that operates the murdochville mine
jan 31 end shr not given net profit 105013 vs loss 745641 sales 3661565 vs 2810132
french eurofranc committee approves three issues
the company had allotted 2018 mln new ordinary shares to warburg securities ltd which it said would be sufficient to finance about 188 mln dlrs of the maximum 261 mln dlrs payable
it seems to me that this is the bundesbank beating quite a significant retreat from its position added giles keating economist at credit suisse first boston ltd in london
law enforcement sources say two bronx congressmen mario biaggi and robert garcia are under investigation
within three to six weeks in each instance however braverman said bond prices recovered to bring the yield down sharply by 63 to 82 basis points
the rate of increase in world palm oil use is likely to slow next season despite an expected 800000 tonne production rise to 813 mln tonnes siegfried mielke editor of the hamburg based newsletter oil world said
however some new york based aluminium traders said they believe the size of alcoas position has been exaggerated
there is a four billion dlr annual global trade in the end products of rattan and brazil nuts earn brazil 16 mln dlrs a year he said
the actual percentage of shareholdings should be agreed by the core companies he said the eight core companies will provide directors for the firm
fed expected to add temporary reserves
regarding inflation recent figures have suggested that prices were under control
burgeoning imports of microwave ovens and of frozen coquilles st jacques will be restricted by a strict application of french quality standards something ec states say often happens to their own exports entering japan
shr primary 54 cts vs 41 cts shr diluted 51 cts vs 38 cts net 9098000 vs 5924000 revs 1117 mln vs 850 mln avg shrs primary 16889254 vs 14500737
the area is between three and 160 miles off the northern coast of alaska in the artic ocean between the canadian border and 162 degrees west longitude
a chrysler financial source speaking anonymously told that the proposed purchase price was smaller than it would have been had a deal been struck last year because the impact of the new us tax law removes chryslers ability to assume amcs large reserve of tax loss carryforwards accumulated from its losses since 1980
foreign minister raif dizdarevic said in caracas radical changes in interest rates and repayment times were needed
huttons stock also was affected by a newspaper report that first boston corp fbc accumulated almost five pct of huttons stock on behalf of an outside client traders said
qtly div 38 cts vs 35 cts prior pay may 15 record may one
onyx petroleum converts debentures to common
all wheat 1986 87 1987 88 4 2 87 prev wk 4 3 87 prev wk named a 31576 36841 15914 16356 unnamed b 1438 1443 871 571 eoa c 95 95 nil nil oop d nil nil nil nil gr total 33109 38379 16790 16927 ay expd e 210446 204334 ind ttl f 243555 242713 usdaprj g 279000 279000 soybeans 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 17747 17803 2159 2159 unnamed b 5003 5248 nil 300 eoa c 184 184 nil nil oop d nil nil nil nil gr total 22934 23235 2159 2459 ay expd e 143342 141832 ind ttl f 166276 165067 usdaprj g 190500 190500 corn 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 85598 86848 7721 2688 unnamed b 9457 9201 nil nil eoa c 908 669 nil nil oop d 1380 1750 nil nil gr total 97343 98469 7721 2688 ay expd e 202960 192938 ind ttl f 300303 291407 usdaprj g 317500 317500 sorghum 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 8756 8051 nil nil unnamed b 1512 1512 102 x nil eoa c nil nil nil nil oop d 1145 1383 nil nil gr total 11413 10946 102 x nil ay expd e 32225 31497 ind ttl f 43638 42443 usdaprj g 57200 57200 x minus total wheat products 1986 87 1987 88 4 2 87 prev wk 4 2 87 prev wk named a 3210 4019 nil nil unnamed b nil nil nil nil eoa c nil nil nil nil oop d nil nil nil nil gr total 3210 4019 nil nil ay expd e 9269 8409 ind ttl f 13482 12428 note includes bulgur semolina farina rolled cracked and crushed wheat
he said the mooring is the first of its kind in the us the new system can accomodate vessels up to 150000 deadweight tons or one mln barrels of cargo pri said
the new york firm will be known as deak international trading ltd the company said
corn export guesses ranged from 270 mln to 320 mln bushels compared with the 276 mln inspected last week and 205 mln a year ago
hytek microsystems inc hteko 1st qtr loss
fundamental said it intends to use the facilities formerly used by mki to provide a new block brokering service in the most active treasury issues
italys net official reserves rose to 66172 billion lire in february 1987 from a previously reported 62174 billion in january the bank of italy said
varity posted a net profit of 39 mln us dlrs for the previous fiscal year ended january 31 1986 and a 33 mln dlr net profit for the previous fourth quarter
it estimated the 1985 86 crop at 8581 mln tonnes vs 8581 mln last month
federal guarantee corp fdgco 1st qtr net
a major non opec producer britain has so far resisted the groups pleas to curb its north sea oil output
qtly div 27 1 2 cts vs 27 1 2 cts prior pay april 15 record march 31
edward madigan r ill nor sen
they said the ec failed to follow consultation procedures laid down in the lome convention which regulates relations between acp states and the bloc for moves which could affect trade between the two sides
adds dropped year of rights expiration
paragon said it bought the shares for investment purposes
texas american txa banks to be merged
the amended offer also includes 150 dlrs face value of the surviving corporations 125 pct nonvoting cumulative preferred not included in the previous offer and reduces the amount of the surviving corporations common to be held by present shareholders to 55 pct from 60 pct
the major thrust programme will therefore be better water irrigation management
prices under the weight of three successive cocoa surpluses recently fell to the level at which the manager has to buy cocoa under stock rules
pepsico offers to acquire calny inc for 1150 dlrs a share
william reynolds was not interested in sitting down and talking with us at this time cyril wagner sought the meeting in a recent telephone conversation with reynolds reed said
trade credits were 210 mln dlrs when garcia took office in 1985 announcing a tough stance limiting foreign debt repayments to 10 pct of export earnings
the spokesman said the company is undergoing an expansion project which calls for a boost in production to 565 mln tonnes a year from the current level
lawrence seaway set to reopen march 31 after the winter faces another tough year because of depressed traffic levels and the possibility of the first strike in 20 years on the great lakes seaway officials said
the us congress and the oil industry are deeply divided on ways the government should assist the industry hurt by the sharp fall in oil prices and the subsequent growth in oil imports industry analysts said
the pound which was at 18 to the dollar in january 1986 has lost more than 30 pct of its international value over the past three months
there is no doubt they could be used to target shipping across the strait of hormuz tension in the gulf has risen since us officials last week broke the news that iran had acquired the silkworm missiles
the push to adopt new instruments has not been great in the past owing to wide spread belief they are speculative which gives them a bad name in west germany
but others say the upturn based on strong orders and firm prices this spring has been strictly seasonal and will end soon
in the australian dollar sector gmac australia finance ltd issued a 50 mln australian dlr bond
while fixed rate mortgages are uncommon in the uk they were the mainstay of the business in the us up until only a few years ago
bramall shares were trading 6p lower at 278p
general electric co 1st qtr shr 137 dlrs vs 118 dlrs
swiss capital exports rose to 464 billion francs in january after 254 billion in december and a year earlier 364 billion the swiss national bank said
the majority of the companys total energy production is in the united kingdom indonesia and pakistan
japan has little new to offer in microchip dispute
the conversion price on the 175 mln australian dlr convertible eurobond for bell group nv has been set at 1337 australian dlrs per share lead manager banque paribas capital markets said
ireland and france continued to oppose the deal on meat saying that the main dispute was over sales of cereals substitutes but they were outvoted by the other states the officials said
the rating agency also upgraded long term debt supported by letters of credit of lead bank citizens fidelity bank to aa plus from a
savings from lower oil and commodity prices were eaten up by price competition and increased costs
at the same time the decline in exports to oil producing countries looks set to slow this year
repayments stood at 55 billion for the year up from 31 billion in 1985
enrollment will be in the range of seven to 12 mln acres usda conservation specialists said
combined intl to ask doubling of authorized shares stock split
the japanese car maker daihatsu motor dmott and three trading houses including mitsui co ltd plan to export production facilities to polands state owned car maker fso to make the charade minicar according to mitsui officials
duties on chocolate were cut to 20 pct from 319 pct in april 1983
were not considering taking either a majority or minority stake in air atlanta but we are thinking of providing them with a loan the spokesman told in a comment on a wall street journal report saying debt laden air atlanta could sell as much as 25 pct of its stock to the dutch airline
the company said winter is traditionally its slowest season
ongpin told reporters after a meeting with businessmen the government was planning to issue between 100 and 150 mln dlrs worth of pins at a discount of about 125 pct this year
the following proposed securities offerings were filed recently with the securities and exchange commission audiotronics corp ado shelf offering of up to five mln dlrs of convertible subordinated debentures due 2002 through hj meyers and co inc
net includes loan loss provisions 1092000 dlrs vs 790000 dlrs in quarter and 3089000 dlrs vs 2584000 dlrs in nine mths
french estimate 86 87 wheat deliveries unchanged
magazines also performed strongly
delivery would be by shipping certificate from production facilities designated by the exchange
general acquisition said it is confident its offer can be completed in a timely manner using its financial arrangements
the yens climb has lost exporters sales and profits in the huge american market
moodys said it would assess the likely financial consequences of the 19 mln dlr rate reduction ordered today by the pennsylvania public utility commission
bankers said the cement importer arabian bulk trade and the construction and trading firm ali and fahd shobokshi group are still negotiating with creditor banks
according to customs officials several green coffee importers confessed in 1985 that they had imported coffee fraudulently after buying it for non member destinations forging landing certificates and then relabelling it as navy beans
tyco laboratories tyc 3rd qtr feb 28 net
nogales said practical and strategic considerations would determine the exact timing of the offer but it would be made in the next few months
many banks businesses and schools stayed shut as workers struggled to keep main roads and supply lines open in this city of 65 mln people
moet hennessy proposes higher dividend
canadian utilities ltd to redeem preferred series
de graaf said if the dispute had not ended by today he would withdraw the 10 mln guilder annual labour subsidy to the sector
bank of japan to sell 500 billion in bills
thyssen ag thyhf said it expects to post a good profit in 1987 despite anticipated losses in its mass steel making operations this year
the bank of france said it will offer 95 billion francs worth of negotiable treasury bills at its next weekly tender on april 13
cambridge analytical associates inc said it expects to incur a loss for the first quarter of fiscal 1987 equal to or greater than its loss of 240697 dlrs for the fourth quarter ended december 31 1986
taiwan issues 12 billion dlrs of bonds
the reagan administration has warned france and germany that it may retaliate if control of the company is awarded on political grounds
the initial distribution will be in cumulative redeemable retractable floating rate class a preferred shares series ii which will carry a retraction right enabling holders to receive 1275 dlrs for each share
these high liquidity securities which are held on a temporary basis and for purposes of strategy and the protection of the overall bond portfolio have been efficient the agency said of the us securities
service america had fiscal 1986 revenues of about 934 mln dlrs or about 83 pct of allegheny beverages total revenues of 113 billion dlrs for the year ended march 29 1986 a spokesman for allegheny beverage said
ecuador has suspended crude exports for about five months until it repairs a pipeline ruputured by a march five tremor
colgate palmolive co cl sets payout
qtly div 15 cts vs 15 cts in prior qtr payable may 11 record april 10
small scale exporters who export mainly to pakistan would be worst hit by the pakistani move as it would take them longer to find new outlets they said
noranda said the quebec health and safety commission the quebec provincial police and noranda itself are each conducting an investigation into the fire
m 1 grew to an estimated 503 billion dlrs against a revised 477 billion in november and 434 billion in december 1985
the senate passed a two year extension of federal housing programs including 15 billion dlrs for lower income housing assistance over two years
traders said they were reluctant to take out new positions amidst uncertainty over whether opec will succeed in halting the current decline in oil prices
prime minister margaret thatcher late last year said a decision on whether or not to join depended on the strength of the uk economy
shr loss not given vs profit 16 cts net loss 309000 vs profit 426000 revs 6358000 vs 6747000 year shr profit 27 cts vs profit 76 cts net profit 713000 vs profit 2021000 revs 249 mln vs 271 mln note pretax net profits 113000 dlrs vs 824000 dlrs in quarter and 1863000 dlrs vs 3606000 dlrs in year
shr 59 cts vs 27 cts net 6398000 vs 2979000 revs 910 mln vs 941 mln avg shrs 108 mln vs 112 mln nine mths shr 158 dlrs vs 106 dlrs net 172 mln vs 122 mln revs 2797 mln vs 2891 mln avg shrs 109 mln vs 114 mln
bow valley industries ltd said it agreed to sell its wholly owned norwegian subsidiary to elf aquitaine norge a s of stavanger norway for 13 mln canadian dlrs
the buffer stock is the market regulating tool of the icco into which cocoa can be bought or from which it can be sold to manoeuvre prices into a pre set stabilization range
year ended march 31 shr 91 cts vs 108 dlrs net 4800000 vs 5800000 rev 1187 mln vs 1103 mln
i think the strategy might have called for making his investment more attractive
they put wednesdays overnight system repos at approximately 34 billion dlrs
the bill permanently extended the authorization for federal housing authority mortgage insurnce
venezuelas new margin last month was only a 1 4 point drop from the rate agreed in a rescheduling accord in 1986 the bankers said
in our conversations with the underwriters we thought three different tiers would make more sense because the prices would not be far apart meanwhile underwriting syndicates are scheduled to bid competitively tomorrow for 250 mln dlrs of first and refunding mortgage bonds due 2017 of philadelphia electric co pe non refundable for five years the debt is rated baa 3 by moodys and bbb minus by standard and poors
southern railway co a unit of norfolk southern corp is raising 206 mln dlrs through an offering of equipment trust certificates due 1988 to 2002 said lead manager morgan stanley and co inc
air canada to acquire calgary courier company
chase manhattan raises prime rate to 7 3 4 pct from 7 1 2 effective today
miller said he was concerned the fed might overreact to signals of rising inflation by tightening credit a move he said could have political consequences the white house budget chief appeared to be referring to the effect an economic slowdown could have on the presidential and congressional elections next year
the february rise in production was aided by a sharp 19 pct increase in construction output compared with january when production in many industrial sectors was depressed by unusually severe winter weather
under the guideline the minimum denomination of regulation free large deposits will be lowered to 100 mln yen from 300 mln
star classics inc sclso 1st qtr march 31 net
qintex again extends princeville pvdc offer
publishers equipment pecn trentonian in deal
but the awb spokesman said it is likely this estimate could turn out to be too high based on the receivals level and the final crop figure would probably be nearer to 162 mln tonnes
the organisations executive and marketing committees reviewed the current market situation during a series of meetings here late last week but took no major decisions
traders said the story which appeared in usa today added speculation which began on the street last week
wagner blamed the realtive shrinkage of foreign business chiefly on the dollars fall against the schilling which is effectively pegged to the mark
its first two quarterly payments in september and december were 425 cts each
supermarkets general currently has about 385 mln shares outstanding
last year pacific gas reported earnings of 925 mln dlrs or 260 dlrs per share
the klm spokesman said air atlantas regional route network centred on atlanta ga could serve as a feeder to klms international network which includes direct flights between atlanta and amsterdam
the company wrote off 141 mln dlrs of marble hill costs in november 1986 and repaid its final 20 mln dlrs in debt in october 1986 it said
the repurchase agreement yields compare with the 38125 pct one month and 37500 pct three week commercial bill discount rates today
usda officials however would not commit to any time frame
rhnb corp rhnb 1st qtr net
gencorp inc said that because it is continuing to evaluate general acquisition incs tender offer it has fixed april 3 subject to further extension as the date the rights to purchase preferred shares will trade separately from the common stock as a result of the tender offer
the explosion was the second in four days in iowa following the destruction of an archer daniels midland elevator in burlington last friday
south africa creditor banks agree on debt plan
year ended january 31 parent shr 573 yen vs 580 div five yen vs same net 701 billion vs 677 billion current 2406 billion vs 2376 billion operating 3762 billion vs 4526 billion sales 63008 billion vs 81089 billion note company forecast for current year parent div five yen net seven to eight billion current 24 billion sales 610 billion
juan domingo cordero vice president of the caracas stock exchange and the owner of a foreign exchange trading house said on friday he had begun legal action against cambio la guiara for issuing him four checks without funds for a total amount of almost one mln dlrs
the operation will put the outstanding bill supply at about 1900 billion yen money traders said
it sounds like a good deal stuart mckibbin of ac goode and co told 
more than half of januarys 170000 increase in jobless from a year earlier were those aged between 15 and 24 sumitomos tsukihara said
exploration and production lost 185 mln dlrs on revenues of 5935 mln dlrs
the gathering was the first such discussion since the second major realignment of ems parities within nine months in january
the acquisition was made through bps wholly owned subsidiary bp america inc bp took a 25 pct stake in standard in 1970 raising its stake to 53 pct in 1978 and 55 pct in 1984
the bank said in a statement the loan will be for 10 years with a five year grace period
this suggests that american semiconductor manufacturers may not be really interested in participating in the japanese market he said
first national bank corp is the parent company of first national bank in mount clemens and bankers life insurance co a newly created insurance subsidiary
he also said his bill would protect program participants from reduced income payments in the event market prices rose above the loan rate
la quinta motor inns inc lqm 3rd qtr feb 28 net
the bonus awards were made to louis dreyfus corporation and will be paid in the form of commodities from ccc stocks
it noted that its western australia hotels company had agreed to sell the parmelia hotel for 315 mln australian dlrs some seven mln stg above end 1986 book value
one dealer at a german bank said the wording of the communique made clear the leading nations did not want a further dollar drop and this was supporting the dollar
meridian said it has the option to issue an additional 1500000 shares of its common over the next two years in payment of certain of the notes
tseng tsng sees sales increase first qtr 1987
shr 71 cts vs 15 cts net 4234000 dlrs vs 803000 dlrs revs 154 mln dlrs vs 103 mln dlrs 12 mths shr 126 dlrs vs 67 cts net 7299000 dlrs vs 3607000 dlrs revs 525 mln dlrs vs 407 mln dlrs note empires investment in the deltona corp is reported on the equity method beginning the fourth qtr of 1986
bristol myers bmy reviewing scimed merger
national bank of hungary first vice president janos fekete said he hoped a planned eight pct devaluation of the forint will spur exports and redress last years severe trade deficit with the west
the capital increase will bring the group around 12 billion francs in new funds to finance its expansion plans
the proposed offer would be condition upon ainimum number of shares being tendered gordon said
the average value of the yen against the dollar rose 08 pct to 15350 in february from 15467 in january and was up 168 pct from 18455 a year earlier the bank said
colombias coffee export registrations remain open and there are no plans to close them since a new marketing policy means an unlimited amount can be registered gilberto arango president of the private exporters association said
south korea plans 11 12 pct budget rise in 1988
ameriana savings bank asbi 4th qtr net
i think it kind of muddies an already muddy situation said baker of the offer
pillsbury co 3rd qtr shr 56 cts vs 63 cts
a spokesman at first chicago corp fnb said it is premature to put brazils loans on a cash basis
andre morony of bankers trust australia ltd added the result was positive because growth was export driven
shr 57 cts net 6889000 vs 107 mln nine mths shr 167 dlrs net 201 mln vs 229 mln assets 163 billion vs 147 billion deposits 117 billion vs 119 billion loans 125 billion vs 9365 mln note 3rd qtr and nine mths 1986 per share figures not available because bank converted to stock form nov 28 1986
electro sensors inc else votes extra payout
the payment date is march 25
june 30 end shr 03 ct vs four cts net 18463 vs 174486 revs 5074686 vs 4181978 avg shrs 5624041 vs 4860000
this was partially offset by new swap arrangements
the growth in imports appears to be flattening even if januarys bad weather had curbed consumer spending on overseas goods and import intensive stock building among manufacturers harwood said
nymex rule change seen boosting energy trade
1986 nine mth results include extraordinary gain of 3843000 dlrs or 22 cts
the severe conditions with suppliers and creditors arose from an unfavorable ruling last monday by the us supreme court in texacos ongoing dispute with pennzoil co pzl over the acquisition of getty oil co in 1984
portugals trade deficit narrowed in 1986 to 3365 billion escudos from 3548 billion in 1985 according to provisional national statistics institute figures
the companys common is currently trading at 25 dlrs a share on the new york stock exchange down 3 4
the inquiry is at an important time for the wheat industry as the substantial fall in world prices is likely to trigger underwriting support from the government for the first time he said
bundesbank council member lothar mueller said the bank has not given up its money supply policy and that restraining money supply growth does not always mean pushing up interest rates
earnings per ordinary share were up 47 pct to 194p
the institute assumed an average exchange rate in the year starting april 1 of 150 yen to the dollar
french maize producers association president marcel cazale citing the result of the usda calculation for corn told reporters last week that the united states subsidizes its farmers more than the ec
a henkel statement said the divestment was part of the companys strategy of concentrating on its core businesses
the company also has a refinery south of san antonio where it will be headquartered with a capacity of 35000 bpd
terms werent disclosed
the federal reserve board said it would release april consumer instalment credit figures on friday
he told a news conference here after due consultation with my colleagues in opec i hereby wish to emphasize that nigeria and all member countries of opec remain determined to uphold the december agreement by adhering strictly to their various quotas and official selling prices lukman added no extraordinary opec conference was planned
but it said the talks did not produce any agreements or understandings
the following proposed securities offerings were filed recently with the securities and exchange commission stone container corp sto secondary offering of 1633453 shares of common stock and offering of 300000 shares of common stock both through morgan stanley and co inc and goldman sachs and co
preussag has frequently said its results came under further pressure in 1986 following a difficult year in 1985
fed funds were trading at 6 3 16 pct at the time of the purchase which came several hours before the fed normally transacts business for its customers
the yen is likely to start another uneven rise against the dollar and other major currencies because the group of seven communique contained nothing new currency and bond analysts here said
thailand exported 4842 tonnes of zinc ingots during the first quarter down from 14937 a year ago
uk money market given 15 mln stg afternoon help
its amazing to me that the japanese were surprised
the index of lagging indicators which measures past economic activity decreased 03 pct in february after increasing 17 pct in january and falling by 05 pct in december
a subsidiary of the china commercial and industrial bank is arranger for the issue
chapman also repoted a loss of 434 mln dlrs for the year including asset writedowns of 355 mln dlrs compared to december 31 compared to a net income of 177243 in 1985
allis chalmers ah sells swiss unit
oxford financial inc said it acquired clancy systems international inc for an undisclosed sum
according to the revised data there were 94000 jobless in february representing 22 pct of the workforce against 120000 or 28 pct of the workforce in february 1986
hudsons bay co said it signed a letter of intent to sell its hudsons bay wholesale unit to a private investment group
bank of japan determined to keep easy money policy
the bank said sterling bank lending grew by a seasonally adjusted 291 billion stg in february after a 170 billion stg adjusted rise in january
new to the april program is the combination of a low interest annual percentage financing program and 1986 and 1987 renault vehicles and a 500 dlr rebate
officials of the joint venture bank said they benefitted from contacts made through its three chinese partners
south korea will cut import taxes on 50 items including construction equipment photographic film cigarettes and pipe tobacco to help reduce its trade surplus with the united states the finance ministry said
new york coffee futures prices will probably fall to about 85 cents a lb in the next month before a consolidation trend sets in according to market analysts
affirmed were florida nationals commercial paper at prime 2 and the units short term deposits at prime 1
together with expected progress in commercial bank discussions with argentina and we hope brazil this should add up to substantial new lending for the major latin debtors in 1987 baker wrote
nuclear metals inc said it has received a 6300000 dlr us army contract for 105 millimeter depleted uranium penetrators used as ammunition for the m 1 tank
demand for the issue was lively from uk and overseas sources with particular interest seen from japan
the predicted slowdown of the us automobile industry is affecting the north american group although the improved performance in the fata european group during 1986 is expected to continue into this year
the disaster aid bill introduced by rep
the french have long wanted to control the imports of us corn gluten feed into the community saying that the imported feed was unfairly displacing european grain
on february 25 1985 the dollar peaked against the yen at 26315 yen
equity silver had retained earnings of 2312000 dlrs at december 31 1986
a treasury spokesman said lawson had said he neither wanted a substantial rise or fall in sterling
the treasury spokesman pointed out that todays talks had been at funaros request
but the sources said he ran into opposition from finance ministry and government officials who thought an interest increase would fuel inflation
wet weather covered rio grande do sul brazil in the week ended march 14 benefitting soybeans which are mostly setting to filling pods the joint agricultural weather facility of the us agriculture and commerce departments said
soybean export estimates ranged from 120 to 150 mln bushels versus 108 mln exported last week and 132 mln last year
it has commitments to export another 658999 tonnes this year
india details rain flood damage to grain in 1986
british telecommunications plc btyl expects to announce satisfactory results for its 1986 87 financial year ending march chairman sir george jefferson said in a third quarter statement
transcanada pipelines offer is to dome management not to shareholders
the interest rate ceiling of mmcs with maturities of between one year and two years will be set at 05 percentage point below the prevailing certificate of deposit rate the bank said
without giving figures the newspaper said a considerable part of the winter crops must be reseeded but that creates extra effort in the fields in spring the soviet union has previously said nine mln hectares of winter grain will have to be reseeded because of winterkill
this means the effects of the two year rise of the yen against the us dollar are finally beginning to have an impact on exports they said
copper study group considered at geneva meeting
two brazilian shipping firms settle with strikers
an fn statement said the loss which compared with a 68 mln franc profit the previous year included considerable charges for restructuring in 1986 and 1987
celina financial corp said shareholders at a special meeting approved a transaction in which the company transferred its interest in three insurance companies to a wholly owned subsidiary which then sold the three companies to an affiliated subsidiary
the spokesman said the talks are the result of a change in ontario securities laws that takes effect june 30
the result of the negotiations was still open
mclean industries incs united states lines inc subsidiary said it has agreed in principle to transfer its south american service by arranging for the transfer of certain charters and assets to crowley mariotime corp s american transport lines inc subsidiary
universal resources uvr holders approve merger
meanwhile us japanese diplomatic manoeuvres to solve the trade stand off continue
peru ecuador bolivia costa rica honduras guatemala and nicaragua had all curtailed payments before brazil
it involves a major reduction in tax rates and we believe that getting the tax burden down is one way of stimulating the economy he added
we do need to do something with those currencies or we will be substituting japanese products for taiwanese products or those of other nations with currencies tied to the dollar baldrige told a house banking subcommittee
inflation is running at an annual rate of some 17 pct and the rand is around 4953 us cents
dharyono said if new quotas are not agreed he believed indonesia was well placed to survive low prices
qtly div class b 1 1 2 cts vs 1 1 2 cts prior class a two cts vs two cts prior pay april 30 record april 15
the group had earnings of 154 mln dlrs in 1985
an agency official said it will set up a 500 mln yen pilot plant in bangkok which will extract high quality rare metals such as titanium and niobium from sand left over from tin production processes in thailand
egypt bought 125723 tonnes of us wheat flour in its pl 480 tender yesterday trade sources said
the sales leave the tisch brothers with 135000 shares of preferred stock which can be converted into 1499985 shares of common stock
after 1986 losses shareholders equity stood at only 895 mln francs
claremont tells sec it seeks 15 pct champion products stake two board seats
the soviet total comprises 634000 tonnes of wheat and 472000 tonnes of barley
monetary sources said policymakers understood markets were focusing on instability created by the gap between the us trade deficit and the surpluses of west germany and japan rather than prospective policy changes
both countries expect to conclude the talks by august 1987
without last years energy price drop it rose 38 pct
henderson also speculated the company might attempt a restructuring such as the one carried out by goodyear tire and rubber co last year when it was being courted by sir james goldsmith
shr 203p vs 191p div 60p vs 515p making 95p vs 80p turnover 193 billion stg vs 191 billion pretax profit 1252 mln vs 1022 mln tax 425 mln vs 311 mln trading profit 1380 mln vs 1227 mln trading profit includes ub foods europe 887 mln vs 784 mln ub restaurants 103 mln vs same ub foods us 438 mln vs 391 mln other 39 mln vs 35 mln unallocated costs 87 mln vs 86 mln interest 128 mln vs 205 mln note full name of company is united biscuits holdings plc minority interests 01 mln vs same extraordinary charges 68 mln vs 143 mln extraordinary charges and credits include surplus on bid for imperial group plc 49 mln vs nil costs of philadelphia bakery closure nil vs 196 mln
he gave no detailed figures
the 35 billion dlrs maximum which may be raised under the development loan bill 1987 against a ceiling of 15 billion under current laws is expected to satisfy demand for government securities over the next four years hu said
they said the revenues of the combined companies will be over 600 mln dlrs and dixie said the merger will not dilute its 1987 results
dow jones drops owens illinois inco from industrial average adds coca cola boeing
standard and poors corp said it placed on creditwatch with negative implications american stores co because of its intention to repurchase up to 256 mln shares of common stock currently valued at 170 mln dlrs
the germans clearly do not want to budge an aide to chirac told reporters
dealers said that federal funds were trading at 6 1 8 pct when the fed announced the operation
it said the 34 mln meston shares not tendered in the offer were held by about 550 stockholders including quebecs la societe de developpement de la baie james with 13 mln shares
the conversion feature of this issue is the new wrinkle
the bonds guaranteed by the french government will be issued in denominations of 5000 dlrs and will be listed in luxembourg
shell also said its shell canadian tankers ltd unit will lay off 13 employees and that socanav will offer jobs to 41 employees
bank of england governor robin leigh pemberton said lowering interest rates too fast could jeopardise recent economic achievements in the uk in remarks prepared for delivery to businessmen in birmingham he said prospective returns on real investment are more favourable relative to those on financial assets than for a good number of years
the company said it previously reported special charges of nine mln dlrs in the fourth quarter from losses on restaurant closings lease termination costs contract settlements and severance arrangements
stanley works swk sets quarterly
iranian premier mir hossein mousavi reiterated his country would retaliate for us navy attacks on gulf oil platforms
qtr ends jan 31 shr 22 cts vs 19 cts net 4549000 vs 3666000 revs 8903000 vs 7791000 avg shrs 209 mln vs 199 mln six mths shr 42 cts vs 41 cts net 8641000 vs 7928000 revs 175 mln vs 146 mln avg shrs 208 mln vs 194 mln note earnings were restated to reflect the three for two stock split on april one 1986
at the hasco compound where grim faced workers lined up to receive their last pay spokesman georges d
rice season begins august 1
transcanadas proposal amounts to a quasi debt restructuring oil analyst doug gowland of brown baldwin nisker ltd said from toronto
tmoc said it did not know elders resources response to the bid or that of its other major shareholder the australian gas light co the latter has a 105 pct stake in tmoc
oper shr loss three cts vs loss four cts oper loss 40870 vs loss 39827 revs 584855 vs 727432 six mths oper shr loss two cts vs loss two cts oper loss 24311 vs loss 26947 revs 1246992 vs 1497251 note current periods exclude net gain of 150865 dlrs from termination of retirement plan for salaried employees
warner wci has 82 pct berkey inc bky stake
tomorrow the uk government will consider what legal action it can possible take to press for japanese reform
the company discontinued operations in that unit on jan
this gave a year on year march inflation rate of 98 pct against 95 pct in february and 122 pct in march 1986
ended jan 31 shr loss 50 cts vs loss one ct net loss 2475739 vs loss 68691 revs 3689770 vs 3292733 year shr loss 50 cts vs loss two cts net loss 2472582 vs loss 112936 revs 148 mln vs 132 mln note current periods include charge of 225 mln dlrs or 45 cts for restaurant closings
dealers said they were uncertain about the size of the intervention but some said it was only for a small amount
but such an outlay of funds by the government would not be possible without seriously impairing development projects or greatly fuelling inflation in the economy the letter said
under such circumstances the countries agreed their currencies were within ranges broadly consistent with economic fundamentals
gould gld sells french battery unit
indian state company bonds provoke complaints
li said modern equipment and advanced technology would increase yields
us corn sales of just over 10 mln tonnes in the week ended april 2 were eight pct above the prior week but 25 pct below the four week average the us agriculture department said
internchange financial services isbj payout up
a shelf registration system would need a revision of japanese commercial law expected in 1988 the sources said
payment date is april 27
he told the inter american development bank iadb annual meeting here that despite latin americas debt crisis colombia continues to achieve positive credit flows reflecting the strength of its economy that grew five pct last year
latin debtors make new push for debt relief
it had required the first two limited sugar deliveries to make such moves for three consecutive sessions
during the year the company began operating a sulphur granule plant with capacity of 4000 tonnes per day the report said
they said brazils reluctance to open coffee export registrations might reflect fears this would provoke another price slide and force an emergency ico council session which would most likely end in failure
finally reliance group holdings inc acquired nearly six pct of tre according to an seec filing
avon said it identified giorgio more than a year ago as a preferred acquisition candidate
the blaze broke out with an explosion around 1330 local time 1130 gmt shell is a subsidiary of the royal dutch shell group rd some 200 firemen fought the flames at the gasoline storage unit at edouard herriot riverside port complex and appeared to have the blaze under control as night fell
he also refused to speculate on when an overall agreement might be reached
the days other borrower in this sector was the new south wales treasury corporation guaranteed by the crown in right of new south wales
1985s discontinued operations are restated
northern trust ntrso files shelf
they are a potent political force the diplomatic source said
american video operates stores in us military bases
hertz realty issues 75 mln canadian dlr eurobond
keiaisha co ltd of tokyo is issuing 12 mln swiss francs of straight notes due march 26 1992 with a 4 5 8 pct coupon lead manager gotthard bank said
the primary market had a steady day with the australian dollar and the yen sectors again seeing the most activity dealers said
tvx broadcast group inc tvxg said it has completed the previously announced purchase of five taft television stations
the analysts described chancellor of the exchequer nigel lawsons budget as cautious a quality which currency and money markets had already started to reward
of the total 300 billion yen will yield 38992 pct on sales from money houses to banks and securities houses in a 23 day repurchase accord maturing on april 24
bushnell
cable and wireless plc cawll said it will merge its hong kong telephone co ltd telhhk and cable and wireless hong kong ltd units into a new holding firm to be called hong kong telecommunications ltd under the merger hk telephone shareholders will receive two hk telecommunication shares at a par value of 50 hk cents for each hk telephone share at par of one dlr
endevco said it plans to extend its existing mississippi fuel co system in southern mississippi 18 miles to the new pipeline
baker said the new terms that hughes proposed for the merger as an alternative to the consent decree were more burdensome than those of the consent decree themselves
all requests for export licences for free market feed wheat and barley were rejected they said
another provision of the act could result in limiting the use of tax credits if a change in ownership of continental takes place the report said
us banks to get approval for securities business
china and the european community ec signed an agreement on the establishment of an ec office here
on line osii sells convertible debentures
catena reported profits after financial income and costs up to only 231 mln crowns from 207 mln in 1985 despite an increase in sales to 854 billion crowns from 559 billion in 1985
rocky mount rmuc expects profit in first qtr
the purchase will be for rexcom common and preferred stock
talking point first city bancorporation fbt 
it also reported fourth quarter net of 73 mln dlrs or 71 cts a share up from 44 mln dlrs or 43 cts a share in the previous years fourth quarter
progressive savings and loan association prsl said it has agreed in principle to be purchased by far west financial corps far west savings and loan association
ico talks set to end with no quota debate
the offer will include a partial convertible alternative under which shareholders would receive up to a total of 20569 mln new second convertible shares in williams instead of their ordinary share allocations
they noted the purchases of 8000 tonnes in the first week he bought and 13000 in the second are well short of the limitations of no more than 5000 tonnes in one day and 20000 in one week which the cocoa agreement places on him
ciba geigy ag cigzz said it would establish a joint venture with phillips petroleum co
brazilian newspapers highlighted his absence and reported that several of the 24 businessmen present seized the opportunity to tell sarney they would like to see funaro leave his job
amoco corp an has test marketed the new mid grade gasoline and hopes to sell it on a regular basis in the south east and midwest by the beginning of june according to paul collier executive vice president of marketing
a purolator official said the company has no comment on the letter from gardner
the largest crop since 1975 was 2374 mln tonnes harvested in 1978 according to usda data
on a post split basis the increased dividend will be 58 cts a share payable may one to holders of record april 10
shr loss six cts vs loss seven cts net loss 125000 vs loss 140000 rev 24 mln vs 22 mln year shr loss 13 cts vs loss 14 cts net loss 271000 vs loss 211000 rev 101 mln vs 82 mln
he said there are times when exploiting a profitable market is done best with a partner
the company expects prices to remain at around current levels despite the likelihood of agreement on buffer stock rules at the forthcoming london cocoa talks and believes market intervention by the buffer stock manager would stabilise prices
they said the american decision inevitably carries some risk of armed confrontation but iran despite its blunt rhetoric would want to avoid this as much as washington
officials of five thai commercial banks are expected to meet tomorrow to seek agreement on cutting interest rates banking sources said
the bank previously said m 2 fell 006 pct in january
in its supply demand report the usda raised its estimate for 1986 87 soviet grain imports to 26 mln tonnes from 23 mln
the yield on 180 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama rose slightly to 663492 pct from 656823 last week bankers said
white house spokesman marlin fitzwater said the proposal would be reviewed
shr 42 cts vs 35 cts net 1540000 vs 1289000 year shr 159 dlrs vs 63 cts net 5849000 vs 3980000 note 1987 year excludes 1814000 dlrs for tax credits
gale warnings were issued for today along the central california coast
average earnings were 200 roubles a month against 194 roubles a year ago
he appears convinced that officials from west germany france britain japan italy and canada talking quietly behind closed doors can reached reasoned decisions away from public posturing
it said the move was needed because of distortions in the foreign exchange market
the companys life insurance result fell to 3657 mln guilders after 4284 mln in 1985 due to currency influences tighter interest margins and increased investment
the european community ec has increased the size of two special export tenders for british and west german feed wheat held in intervention stores and included south korea as an acceptable destination traders said
the program that the new funding supports is designed to continue the adjustment and restructuring effort so as to achieve sustained growth a lower rate of inflation and a balance of payments viability in the medium term
and business risk will be greater because of stricter government procurement practices
goldman sachs given bogus exxon bonds in trade
ferruzzi said the acquisition of these assets would extend its presence in the european agro industrial industry both geographically and in terms of products
because of the key role the us plays in the debt crisis foreign banks in particular wanted time to analyze the significance of the policymakers comments bankers said
unocal raised crude oil postings 50 cts bbl wti now 19 dlrs bbl
no changes were made in unions posted prices for west coast grades of crude oil the company said
opec output in february was well below the 158 mln bpd ceiling it set in december and all countries are strictly adhering to their quotas the opec news agency opecna quoted an opec secretariat official as saying
the company has tremendous leverage and if it can get its act together and if oil prices are steady to higher there is good room for improvement he said
regional shipping sources earlier said three iranian offshore oil sites at sassan rostam and rakhsh had been attacked at 700 am 0300 gmt on monday by unidentified aircraft
armel inc aml 4th qtr loss
the maize import target for calendar 1987 is set at well over 34 mln tonnes compared with an actual 307 mln in 1985 he added
trump also agreed to pay 135 dlrs a share for the remaining class b shares outstanding
shr loss nil vs profit six cts net loss 89000 vs profit 1136000 revs 1050 mln vs 97 3 mln 1st half shr loss two cts vs profit 21 cts net loss 396000 vs profit 3790000 revs 2121 mln vs 1948 mln avg shrs 181 mln vs 183 mln note current quarter net includes 77000 dlr tax credit
douglas said in a statement the june quarter borrowing program will not include a may tender but a 250 mln dlr tender will be held on june 11
the times of zambia which is run by the ruling united national independence party unip quoted official sources as saying the imf and world bank had refused to continue financing food subsidies and were pressing the government to explain how it proposes to pay for them
a government official said that a decision by brazil not to import maize because it forecast a record harvest would not affect argentinas exports
the borrower then issues additional notes in this category up to a pre determined maximum
study says us canada pact would spur economies
the united states warned iran again that it was ready to retaliate for any further hostile military action in the gulf as us warships began escorting another tanker convoy southward from kuwait
australia sells 180000 tonnes of sugar to ussr
atlantic richfield said the divestitures are in line with its policy of focusing resources on oil gas chemical and coal operations
lucente an ibm vice president and group executive of the information systems group said in a statement this is an important step toward providing a single ibm marketing and service organization to increase our focus on our customers telecommunications products needs ibm said jack w
he said the high semiconductor prices recommended by the agreement were leaving japanese manufacturers piling up stocks of unsellable products
the bundesbank declined to comment on rumours in tokyo that it was intervening heavily to support the dollar but dealers here said they had not seen the german central bank in the market all morning
cominco ltd said it set tentative talks with three striking union locals that rejected on saturday a three year contract offer at comincos trail and kimberley british columbia lead zinc operations
he confirmed delegate reports that the buffer stock manager will trade cocoa by means of an offer system and according to fixed differentials for cocoa from different origins
trading will terminate on the last business day of the month preceding the delivery month
zimbabwe exported 11000 tonnes of coffee in 1986 mainly to west germany britain japan the netherlands switzerland and the united states
qtly div 275 cts vs 275 cts prior pay march 31 record march 25
while we are not off to as good a start in fiscal 1987 as we would like business has picked up in the last few weeks chairman richard smith said
it said the units sold were ampex corp amphenol prodcuts linotype group neptune international mpb corp revere corp and sigma instruments inc
the two 150 mln dlr equity warrant eurobonds for mitsui and co ltd reported earlier today from tokyo have now been formally launched lead manager nomura international ltd said
shr loss 195 dlrs vs loss 910 dlrs net loss 444 mln vs 2068 mln revs 841 mln vs 1724 mln year shr loss 656 dlrs vs loss 1166 dlrs net loss 1490 mln vs loss 2651 mln revs 4152 mln vs 6973 mln note current qtr net includes pretax charges of 107 mln dlrs against inventory adjustments and currency costs related to fluctuations of italian lira
incoming orders in 1986 rose to 305 billion marks from 258 billion the year before comprising domestic 130 billion marks versus 141 billion and foreign 175 billion marks versus 118 billion
seasonal variation brought bank notes in circulation up 190 mln guilders to 297 billion guilders
the deficit with the philippines was 800 mln dlrs
he said other beneficial effects would be to stabilize export commodity prices for developing countries by using a commodity basket as a guidepost for monetary policy
pay n pak said the second proposal is conditioned upon a satisfactory agreement with the companys management regarding its equity participation in the new company
the sources however could not give comparative figures for 1985
world group turnover of siemens ag siegf should rise to 51 or 52 billion marks in the current year to september 31 after a 19 pct upturn in the first five months management board chairman karlheinz kaske said
united tote inc toteo 2nd qtr april 30
under the agreement vertex also said it would supply computer with 250000 dlrs of operating funds and arrange renegotiation of its secured bank debt among other things
asea group aseay sees flat 1987 earnings
personal income is forecast to rise by 06 to 08 pct compared with no change in january while consumption expenditures are projected to increase 14 to 16 pct reversing most of the two pct drop recorded in january
atlanta ga based neptune which makes water meters and flow measurement equipment had sales last year of 80 mln dlrs
graham mccormick gop sells oil and gas stake
the company also recently set up its own operating management which was previously carried out by dome petroleum maison placements canada inc analyst denis mote commented
the commodity credit corporation ccc has transferred 120 mln dlrs in credit guarantees previously earmarked for sales of us hatching eggs and 70 mln dlrs in guarantees for breeder livestock to increase coverage on sales of us protein concentrates to iraq the us agriculture department said
but they generally agreed that these instruments provide the borrower with greater flexibility and lower costs than a traditional bond
but pentagon officials said that additional ships and air cover are under consideration
us commerce secretary malcolm baldrige leaves on saturday on a 10 day trip to the far east to help spur us trade and improve business relations with china south korea and the philippines us officials say
brown forman inc said at the suggestion of the american stock exchange it has changed the record date for the 28 ct per share quarterly dividend on its class a and class b common stock that is payable april one to march 20 from march 13 to coincide with the record date for a three for two stock split declared february 26
in the year to end march 1988 bgc will pay back a further 250 mln stg followed by 400 mln in both 1988 89 and 1989 90 and the remainder in equal instalments of 350 mln over the next two years
the ferruzzi groups holding company agricola finanziara spa will pay 630 mln dlrs for the european corn wet milling business of cpc international inc under the agreement reached in principle between the two companies a statement by ferruzzi released by its brussels office said
the international tin council itc intervened in a high court hearing in an attempt to prevent the presentation of internal council documents as evidence
this loss is an increase from the 60 mln dlrs loss reported on operations gte owned a year ago quarter and prior to entering a joint venture with united telecommunications ut in july 1986
the government lowered local taxes for exporters and said the export registration price or reintegro will be changed more often in order to closely reflect market trends
numac oil and gas ltd nmc year net
about 24 pct of total sales came from usxs uss steel unit and 16 pct from diversified businesses which include oilfield services raw materials minerals chemicals and real estate
delivery will be determined in the course of the year
the supply problems are not new but are beginning to be felt by a market in which as peak winter demand tails off stocks usually build fast and availability increases traders said
joining schroders as underwriters are barclays bank plc citicorp international ltd paribas asia ltd sanwa international finance ltd and sumitomo finance asia ltd
varian associates inc said it acquired all the outstanding stock of closely held analytichem international inc for an undisclosed amount of cash
guinness to sell retail interests
franklin electric co inc feleo 3rd qtr net
renouf extends benequity holdings bh offer
the purchase for an undisclosed sum will be made mostly with idea common stock the company said
he also reaffirmed that amoco would reinvest in amoco canada dome properties all available cash flow for five years after the acquisition
the agency which emerged from bankruptcy court protection when vazquez rana bought it for 41 mln dlrs last june has had four presidents over the past year
the halt the first national strike by seamen in 25 years started on february 27 and union leaders said they would not return to work unless they got a 275 pct pay rise
the houston based company which produced a daily average of 120 mln cubic feet of gas and 11149 barrels of oil said it had proved reserves at yearend 1986 of 286 mln barrels of oil and 954 billion cubic feet of natural gas
divi hotels nv dvh 3rd qtr net
martin lawrence limited editions mlle year net
northwest aluminum reopened it last december
kentucky central life kenca sets payout
the unadjusted april index figure fell 14 pct from march to 104 compared with a 10 pct rise in march over february
the democratic controlled committee said the administrations export control policies which restrict shipment of thousands of products contributed to last years record 169 billion dlr us trade deficit
although lawson denounced what he said was the current wave of election fever in britain he added it is more likely that there will be an election this year than not
gross fees of 1 1 4 pct comprise 1 2 pct for management and underwriting combined and 3 4 pct for selling
he noted that japanese and european imports from latin nations were significantly smaller than imports into the us he stressed both germany and japan must continue to take economic and structural measures to ensure stronger sustained economic growth
brokers choice capital inc said it signed a letter of intent to buy rubbertech inc
representatives of sugar growers have rejected the proposal saying it would ruin the domestic sugar industry
the increased offer would exceed the 9025 dlrs a share price offered by dixons group plc in a tender offer for cyclops that is part of a definitive agreement to acquire the pittsburgh based maker of carbon tool and specialty steel products
the sugar was reported sold at around 160 dlrs a tonne c and f for july august shipment or arrival in september they said
this followed a 277 pct drop in january previously reported as a 224 pct fall due largely to the expiration of the sales tax deduction under new tax laws january 1 the commerce department noted
the unit will be headquarted in southern california it said
the weakness of the whole debt refinancing proposal is that even with approval of creditors there is no assurance that dome will in fact be able to repay all of its debt obligations said wilf gobert an oil analyst for peters and co ltd in calgary
if they dont then in the long run there will be a default ortiz mena warned that latin america needed to reverse the capital outflows from the region and beyond that needed more resources
telecommunications network tniio year net
the contents of the message were not disclosed
we should pay particular attention to the lack of continuing conditionality associated with the use of the cff and to whether shortfalls in export earnings are indeed temporary he said
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
investors set deadline for japan fund jpn 
its rate will be reset by subtracting the product of 18 times libor from 21975
general public utilities corp said its board declared a dividend of 15 cts per share on common stock its first dividend since it omitted payment in february 1980 as a result of the three mile island nuclear accident in 1979
turnover 1409 billion vs 1535 billion
the bank of japan is rather confident currency stability will continue for some time the senior bank official said but declined to be more specific
i do anticipate a significant increase by 2000 thirty three dlrs a barrel is not unreasonable hodel told the senate energy committee
mts also reported that it received a negligible number of caesars world shares in response to its 28 dlr per share tender offer
the argentine grain board adjusted minimum export prices of grain and oilseed products in dlrs per tonne fob previous in brackets as follows maize 71 72 grain sorghum 65 66 roasted groundnutseed according to grain size 510 520 400 410 375 385 355 365 soybean pellets for shipments through may 164 162 and june onwards 161 159
he said consumers would soon return to the market in search of crude
net service receipts declined to 55 billion dlrs in the final quarter from six billion dlrs in the third quarter
yeutter says us should stress trade negotiations as long term us trade policy
qtly div 445 cts vs 445 cts in prior qtr payable may one record april 10
neither have the government regulators indicated that there will be a problem
fmc corp said it has entered into an equally owned joint venture with indo thai synthetics called thai peroxide co ltd to build a hydrogen peroxide plant with an initial capacity of 5000 metric tonnes of 100 pct peroxide north of bangkok
it said tampa operations of lowe are not involved in the sale
tidewater tdw completes debt restructure
he declined to elaborate
tug crews are preventing the movement of foreign flag container vessels in and out of the ports of sydney melbourne and fremantle shipping sources said
the commonwealth of australia is offering in the yankee bond market 400 mln dlrs of bonds in two tranches said lead manager morgan stanley and co inc
us grain carloadings totaled 25744 cars in the week ended march 28 down 43 pct from the previous week but 416 pct above the corresponding week a year ago the association of american railroads reported
the selling concession is one pct while management and underwriting combined pays 1 2 pct
the increases are following sharp spot and futures price rises the company said
but the ford credit notes and fridays offering of 130 mln new zealand dlrs of floating rate notes due 1990 issued by general electric cos ge general electric credit corp via prudential bache securities inc did not have such a floor
bryson pays 54 mln dlrs for cenergy corp stake
as well as financial and marketing pressures some states depended on associated gas output for domestic use and oil cutbacks had left insufficient gas supplies he added
shr loss 85 cts vs loss 136 dlrs net loss 1653386 vs loss 2646876 year shr loss 12 cts vs loss 130 dlrs net loss 236469 vs loss 2522293 note year net includes realized investment gains of 734609 dlrs vs 645438 dlrs
the belgian minister whose country presently holds the presidency of the community made clear the meeting had not produced any agreement to move radically forward in developing the ems towards the ecs long term goal of economic and monetary integration
a further complication is that the more flexible definitions of equity allowed in the us and the uk may put german banks at a competitive disadvantage the sources said
consumers want price reviews at 12 month intervals instead of the 18 at present and the price revision mechanism to respond automatically to market trends
shr 65 cts vs 47 cts net 1843 mln vs 1331 mln sales 385 billion vs 277 billion year shr 159 dlrs vs 116 dlrs net 4501 mln vs 3275 mln sales 1191 billion vs 845 billion
it recorded net earnings of 125 mln dlrs or 143 dlrs per share for fiscal 1986
oper shr loss 123 dlrs vs loss 5750 dlrs oper net loss 17154000 vs loss 26953000 avg shrs 13914000 vs 476000 nine mths oper shr loss 1274 dlrs vs loss 7694 dlrs oper net loss 63774000 vs loss 35207000 avg shrs 5005000 vs 474000 assets 7853 mln vs 127 billion deposits 6256 mln vs 9388 mln loans 5656 mln vs 8269 mln note july 17 1987 company completed recapitalization with injection of 200 mln dlrs in cash 150 mln from the federal deposit insurance corp and 50 mln dlrs raised through a stock rights offering
he said that royal trust hoped to complete negotiations before the end of this month to sell its london based savory milln brokerage acquired in the dow financial deal
fed data suggest no change in monetary policy
exports in 1986 87 at 1350 vs 1350 last month
the company recommended that shareholders reject sosnoffs offer made through his mts acquisition corp and not tender any of their shares
endotronics said at its present reduced level of operations it will exhaust all currently available cash and credit facilities in early may 1987
virginia federal savings and loan association said it has signed a definitive agreement to be acquired by montrose holding co an affiliate of montrose capital corp for 20 mln dlrs
guilford mills gfd sells convertible debt
the group said it may buy more shares and plans to study robesons operations
the united states controls 345 pct of the vote and wants a loan veto to exist at the 35 pct level
humana said it is now aware of any effort to gain control of the company
that is 160 basis points over the yield of the off the run 9 1 4 pct treasury bonds of 2016
the remainder is held by permalines management and an investment group
cytrx corp said its 60 pct owned cytrx biopool ltd subsidiary has acquired biopool ab of umea sweden for undisclosed terms
baldwin piano and organ co said it has filed for a secondary offering of 630000 common shares including 490000 to be sold by general electric co ge and 140000 by other shareholders
the bank was also studying philippine proposals for loans to finance geothermal and education projects sources said
acme cleveland corp amt sets quarterly
to the extent any government action is needed to deal with the trade deficits policies should focus on economy wide phenomena such as exchange rates and relative economic growth the ftc study said
health and rehabilitation hrp initial payout
in november it authorized a buyback of 20 mln shares adjusted for the split
the damage to the pipeline was a severe economic blow to ecuador where oil accounts for up to two thirds of total exports and as much as 60 pct of government revenues
audio video affiliates inc said it will receive an undisclosed amount from dixons group plc in connection with the termination of cyacq corps 9250 dlr per share tender offer for cyclops corp cyl the company said the amount from dixons is in lieu of reimbursement expenses for the cyacq tender
capital homes builds single family homes in the washington dc area and is also active as a land developer both for its own use and for sale to other builders
everyone is expecting strong numbers and if they come in as expected it wont be that bad for the market sloane said
he said this explained the increase in the adjusted statistics
sumitomo bank ltd said it established a 500 mln stg certificate of deposit cd issuance program arranged by morgan grenfell and co ltd
convertible yen bond brokerage fee may be cut
banks held an average 593 billion marks at the bundesbank over the first six days of the month well clear of the likely april minimum reserve requirement of 51 billion marks
live hogs and frozen pork bellies posted sharp gains on the chicago mercantile exchange while live cattle were moderately higher
mcgraw hill inc said it has sold its mcgraw hill book co south africa pty ltd subsidiary to a local management group for an undisclosed amount of cash and halted the sale of all products and services to south africa
nickles and sen
oil normally accounts for 60 pct of its exports
this makes a june election very likely bell said some politically popular provisions omitted from the budget such as lifting the ceiling on the amount of mortgage eligible for tax benefit and some provisions on pensions could not have been implemented until autumn anyway
the company said it will hold a special meeting on july 10 for a vote on approval of a merger at the tender price
argentina is seeking a 215 billion dlr loan to meet four pct growth targets in 1987
the aim is to concentrate on raising yields from the current 18 to 19 tonnes per ha to at least 25 tonnes per ha over the next five to seven years he said
saying the us debt strategy was making substantial headway baker said import volumes of debtor countries are forecast to jump over six pct in 1987 and export volumes almost five pct the best performance in three years
twa twa makes merger offer for usair u 
the company said it extended the offers to allow more time to complete the previously announced sale of its mueller brass co unit to conclude a definitive agreement with the united steel workers union and to meet the conditions of the mueller sale and exchange offers
lewis westco had sales of more than 45 mln dlrs for its fiscal year ended june 30 gen term also said
it said the reclassification will reduce first quarter earnings by 28 mln dlrs after taxes and 11 mln dlrs after taxes for all of 1987 if brazil does not change its position of a moratorium on interest payments
burke 57 has been chief operating officer of m a com since last november
calgary based domes restructuring plan would allow creditors to convert debt to common shares under a formula yet to be negotiated
enron corp said it will pay accrued second quarter dividends on the three series of preferred stock it will redeem on may 1
lawyers working in the legal tangle left from the october 1985 collapse of the tin market said this hearing is likely to last a few days
just before the opening the dollar dropped swiftly as speculators concluded the group of seven g 7 comminuique issued in washington contained nothing basically new they said
diodes inc dio 3rd qtr jan 31 net
since purolator agreed in late february to a buyout by some of its management and the ef hutton group efh subsidiary speculation has arisen that more bidding was to come
the atmosphere is excellent other delegates said the buffer stock might not be operational by monday but could be in place by around april 1 if the rules are agreed by friday
meanwhile bankers were to hear in new york this afternoon what impact brazils hard line would have on argentina with an initial presentation from argentine treasury secretary mario brodersohn on his countrys request for 215 billion dlrs in new loans and a multi year rescheduling agreement
the merger is expected to be completed in june they said
coupon date is july 15
there are ways of producing coconut products outside of copra romero said
carling okeefe sells star oil unit to united coal canada for 57 mln dlrs
its my view that we should be thinking about these things right now along with the questions of the substance of the agreement commented ontario premier david peterson who has been highly critical of the talks in the past
they said they expected brazil and colombia to open export registrations for may shipment next week
hernandez defined the meeting as an informal exchange of ideas about the oil market
japan cuts chip supply may produce shortage
the offshore and onshore drilling company today reported a first quarter loss of 186 mln dlrs after a 122 mln dlr tax credit compared with a year earlier loss of 5855000 dlrs after a tax credit of 8510000 dlrs
foreign banks have been allowed to operate susbidiaries in norway since 1985
there are also other potential sources of supplies in the world he added
but robert crandall a trade specialist at brookings institution a think tank said a shot across their bow can often result in a shot in our stern he said it left the united states open to retaliation
weyerhaeuser principally a lumber products company said the forecast was made by the companys chief financial officer during a meeting of institutional investors in tokyo
bsn bsn share sale advances
he said treasury bill maturities interest rate levels and the volume of government securities sold to the private sector have improved significantly
nissan motor co ltds 35 billion yen of 5 1 8 pct euroyen bonds due 1992 gained an a2 rating
weinberger told reporters prior to a speech at texas christian university that he did not think iran and the united states were moving towards a potential conflict adding that the straits of hormuz at the mouth of the gulf were still free water
uk unit wage labour costs rose 33 pct in three months ending jan official
the canadian government is expected to announce later this week its final ruling whether us corn exports to canada have injured ontario corn growers us government and farm group representatives said
grade 92 octane will be 902 cents against 876 previously
the commission has already decided to accord rebates for the export of 500000 tonnes of french maize of which rebates for around 100000 tonnes have been granted
he said south africa already had repaid five pct of the debt under the standstill agreement expiring on june 30 1987
oper shr profit eight cts vs loss 20 cts oper net profit 1115000 vs loss 2729000 revs 830 mln vs 379 mln note current year figures exclude operating loss carryforward gain of 888000 dlrs and loss from discontinued operations of 73000 dlrs
tender loving care also said norrell corp agreed not to acquire any additional staff builders shares until september 30 adding norrell was paid 750000 dlrs for the standstill arrangement
chemical new york corp chl 1st qtr net
the notes will be supported by an irrevocable letter of credit by the federal home loan bank of boston
current capacity is 136000 bbl day
treasury sources said that baker already unhappy about bonns refusal to stimulate its economy in order to keep the global recovery moving was angered by a bundesbank interest rate boost that seemed destined to do just the opposite
it said garland texas based naturalite had sales in 1986 of about 20 mln dlrs
symbion has 7472000 shares outstanding
underwriters are wedbush securities inc morgan grenfell blunt ellis and loewi inc butcher and singer inc raymond james and associates and robinson humphrey co inc
mdc holdings mdc sells energy unit
the financially troubled farm credit system today formally asked that the treasury department provide a line of credit to the system and that congress take steps to guarantee stock held by borrowers
also excludes 1986 full year gain of 80 cts per share from accounting change
japan 1986 87 compound feed output up 23 pct
the issue can be redeemed early on april 10 1991 1992 or 1993 with 45 days notice
the bank of japan intervened to stem strong yen rises against the dollar during london trading this morning dealers said
final terms will be fixed on april 9
you have to look at the dollars peak compared with now and that was well before plaza he said
three london markets which trade potato soymeal and meat futures said they will merge to form a new agricultural futures exchange
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
1986 net both periods excludes 400000 dlr tax credit
poehl said that the recent rise in interest rates was not due to central bank policy but to markets expectations and currency developments
asbestec also said it expects to sign march six a 900000 dlr contract to remove asbestos from a major apartment complex in washington dc the project is scheduled to begin on march nine
the ico board also reviewed export statistics and stock verification
financial corp fin unit completes purchase
the bond and warrants will be listed in frankfurt
ecolab inc said it has started its previously announced tender offer for all shares of chemlawn corp at 3650 dlrs each
a capel cure official told reporters the elimination of commissions has made the market more competitive
it also said sk and fs us sales force will be 20 pct larger in 1987 with more than 1000 sales personnel
the group includes vbi corp a turks and caicos islands investment firm and ingemar rydin industritillbehor ab a swedish investment firm and erik martin vik a norwegian investor and viks son alexander
growth in oecd countries is expected to come primarily from transport fuels as in 1986
outstanding bills will total some 2300 billion yen
the two steelworkers locals representing the office and technical workers have not negotiated since may 21
the proposed agreement is subject to approval by the french government it said
as a result foreign currency reserves fell to 11469 billion francs on march 19 from 12082 billion on march 12 while ecu reserves fell to 6202 billion francs from 7323 billion
ministry economic adviser qazi alimullah told a news conference that before recent unseasonal rains and hailstorms damaged the wheat crop gdp growth was calculated at 704 pct compared to 725 pct in 1985 86he said the figure might now slide down a little to around 68 or 69 pct
she said production in the first two months of 1987 totalled 34550 tonnes compared with 36462 tonnes in the same 1986 period
ford motor credit unit files for two billion dlr debt shelf offering
the dividend of 399 shares per danzar share held will be paid to shareholders of record april 15 the company said
trizec to issue 17125 mln dlrs of new stock
much is going better than the impression gained by the public from the january figures which have been in the meantime superseded he said
distillate fuel stocks held in primary storage fell by 44 mln barrels in the week ended feb 27 to 12710 mln barrels from 13150 mln the previous week the american petroleum institute api said
american express also declared a two for one stock split and raised its quarterly dividend to 38 cts per share from 36 cts on a pre split basis
allied lyons plc sees rising profits from 51 pct owned liquor producer hiram walker gooderham and worts in the current fiscal year ending in early march 1988 chairman derrick holden brown said in a speech prepared for delivery to toronto analysts
the agreement was viewed by many in the market as an attempt to put a floor under the dollar after its sizeable two year decline against major world currencies
analysts noted a large capital outflow from the netherlands recently as foreign investments in dutch stock are being sold to take profits
no share amounts provided for 4th qtr as nps completed initial offering in august
the group said it already holds 1483886 prime medical shares or 175 pct of the total
manufacturers national bank of detroit said it increased its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
cameron smail said that aside from traditional lines of business commercial union would like to move into other areas where it may not be able to fund the assets itself
it would not be sensible to provoke another dispute between europe and the united states jopling said in remarks prepared for an evening speech
still the fact there is no physical delivery possible presents certain credit risks as well
gold exports totaled 243191 ounces in december vs novembers 374468 ounces and 350078 ounces in december a year earlier
the bundesbank set a new tender for a 28 day securities repurchase agreement offering banks liquidity aid at a fixed bid rate of 380 pct a central bank spokesman said
the transportation departments antitrust enforcement has been disastrous permitting rampant merger mania ohio democrat howard metzenbaum said in a statement
the money could be spent on products which would have a more direct impact in boosting domestic growth it added
yesterday uss said it plans to raise base prices on plate products by 20 dlrs a short ton or about five pct effective with shipments october 4
comb co said it sold three of its retail stores in omaha to bob cummins enterprises inc a retail closeout merchandiser
transit financial holdings inc 4th qtr net
z seven fund inc said it expects to earn six dlrs a share in 1987 up from 420 dlrs a share in 1986
no one has ever stated or supported a policy of protecting all shipping in those waters pentagon spokesman bob sims said as the reagan administration drew up plans to increase the protective us military presence in the gulf
he believed the trade would remain with a continuing demand for fresh meat
turning to its defense operations reichert said he expects the division to receive significant contracts in the near future
bankers said that while these rates would reduce a banks return they would still be more than those proposed about a year ago when the government attempted unsuccessfully to initiate another cost reduction plan
credit commercial de france ccfppa reported a parent company net profit up 348 pct to 1401 mln francs from 1039 mln francs a few weeks before its denationalisation around the end of this month
but he added it was hard to make a case for conrac being worth much more than the 29 dlrs where the shares traded today
private exporters said china bought a total of 550000 tonnes of us wheat under the export enhancement program with final confirmation by the us department of agriculture of the subsidies still awaited
bil has not disclosed how many progressive shares it holds
the california combination of wells fargo and co wfc and crocker national corp last year was worth 11 billion dlrs and there have been several bank mergers in the southeast valued in the 700 800 mln dlr range
total health systems inc said it has agreed to acquire comed inc of denville nj a health maintenance organization with over 63000 subscribers for an undisclosed amount of cash the assumption of liabilities and the provision of up to 10 mln dlrs in equity and debt financing
the pins proposal has now been left on the table as a separate option for those banks which might want to fund their own investments in the philippines or sell the notes in the secondary market ongpin said
amt will contest all three points
1986 fl yr net includes 900000 dlr net writedown of stake in hecks
the recently refurbished and expanded theater is located in garden city ny
the company said new orders for the year just ended however rose 50 pct to 26 mln dlrs bringing backlog at year end to 19 mln dlrs
analysts noted warner owns warrants to purchase 325 mln viacom shares at 35 dlrs and another 125 mln shares at 3750 dlrs
morgan olmstead kennedy and gardner capital corp said michael fusco has been named president of its securities brokerage and investment banking firm morgan olmstead kennedy and gardner inc
senate committee may look at fuel tax proposals
training subsidies and exemptions from social security contributions are the main incentives for employers
he said att currently controls about 80 pct of the us long distance market with mci communications corp mcic about 10 to 12 pct and sprint five to seven pct
us officials say the action today will show congress which is about to write a trade bill he does not like that he already has the tools needed to fight unfair trade
morgan led a syndicate that won the bonds at competitive bidding
releasing a letter sent friday to supermarkets general dart said we believe that an agreement can be reached which will be in the best interests of supermarkets general its stockholders management employees and customers
city investing co liquidating trust said it declared a cash distribution of 25 cts a unit payable april 10 to unit holders of record april one
esca which had a turnover of 136 mln dlrs in 1986 and is expected to see this rise to 20 mln this year is one of the leading us suppliers of electric despatching and telecontrol systems
us retailers lackluster march sales were due to a late easter according to analysts who expect a recovery in april
last week a spokesman said mannesmann had a letter of intent on the 375 pct stake but completion was being delayed by legal questions surrounding the inheritance
ecuador plans to produce 280000 bpd in august rising to 320000 bpd next january the minister said
he said the companys backlog of sales deposits on feb 28 was 2416 an increase of 976 units over the previous year
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
asked what the imf has stipulated as a critical mass sourrouille said that has not been defined but anywhere over 90 pct we are doing fine although most of the money has been subscribed officials noted that about a third of argentinas 350 creditor banks hold 93 pct of its debt
harcourt brace sets march 30 deadline in harper and row bid
im concerned about the feds overreaction
lichtblau said that the renegotiations would most likely concentrate on volume rather than price
another said the bank still has buying orders in the market
total revenues for the year ending feb 29 1988 should be between 320 mln and 350 mln he said
quaker state ksf arranges 100 mln dlr credit
world bank report criticises peru economic plan
amoco has so far laid 7100 km of seismic lines and sunk five exploration wells in the morondava basin
messidor to merge with triton beleggingen
a working group comprising delegates from all producing and consuming member countries met briefly this morning then broke up into a producer meeting and an ec meeting followed by a consumer meeting
taiwan buys 27000 tonnes of us soybeans
in addition to the increase in first quarter shipments we have announced new offerings in our large processor and personal computing product lines it said
bally bly completes purchase of golden nugget
coca cola enterprises inc cce 3rd qtr net
consensus seen on tin pact extension
boliden said the companys liquid assets were 136 billion crowns at year end which together with an investment portfolio of 160 billion made it one of the most liquid swedish companies
trans national leasing inc tnlso year loss
several hours later the pentagon announced that us warships had begun escorting two us flag kuwaiti tankers the 80000 ton product carrier ocean city and 46000 ton liquified petroleum tanker gas king southward from kuwait
it said the world bank agreed that infrastructural projects in yugoslavia should be accelerated and structural adjustment loans should be agreed this year
huckaby said he has asked sugar industry representatives to think about how domestic output could be controlled either through production allocations acreage or marketing controls
ciro inc ciri year
phlcorp phx has breakeven results
moodys downgrades loral lor debt
dumez 70 pct owned by dumez sa dumppa and 30 pct by unicorp canada corp uniato said the 478125 shares represent 816 pct of those not controlled by westburne international ltd which dumez previously acquired in a tender
kleinerts inc klrt 1st qtr ends feb 28 net
net includes gains from sale of investment in sheraton securities international of 5807000 dlrs vs 928000 dlrs for qtr and 8705000 dlrs vs 928000 dlrs for year
formal discussions which end today have also centred on the role of arab banks in world financial markets with bankers urging them to adapt to a new global trend towards securitisation of business
qtly div 10 cts vs 10 cts prior pay may 25 record april 20 note canadian funds
the seasonally adjusted march average of m 2 plus cds rose 08 pct from february when it rose an identical 08 pct from a month earlier it said
china soybean output down slightly usda report
warrantech corp 3rd qtr dec 31 net
it said the conversion will also reduce its annualized net interest expense by about 11 mln dlrs or 600000 dlrs after taxes
economic growth will remain sluggish in the netherlands and belgium next year and unemployment may rise the organisation for economic cooperation and development forecast
after the split the new quarterly dividend rate is equivalent to 29 cts a share
ecuador will resume limited crude output next week to fill up storage tanks as a first step to pump oil to a colombian pipeline on may one the state ecuadorean petroleum corp cepe said
henley group inc said it declared a special dividend distribution of one fisher scientific group inc share for every 16 henley shares
according to a copy of perelmans letter released by gillette he would be prepared to sign a defnitive merger agreement without any financing condition
subcommittee chairman glickman endorsed the need to take some action on soybeans but cautioned that the marketing loan could mean a substantial increase in budget costs
dole says 0 92 option should be considered
wheat condition was rated 15 pct fair 84 pct good and one pct excellent
shr nil vs one ct net 59608 vs 95909 revs 2921629 vs 2918682 avg shrs 7062172 vs 7273020 year shr loss 122 dlrs vs profit 27 cts net loss 8812432 vs profit 1847560 revs 3070327 vs 3195710 avg shrs 7187941 vs 6828368
the official said the decline was also caused by falling exports in february due to the climb of the taiwan dollar which has made taiwanese products more expensive
terms of the deal were not disclosed
national savings move points to lower uk rates
goldman sachs and shearson lehman brothers co managed the deal
however rates of inflation will edge up in 1988 to over the current oecd average of three pct
guinness plc guinl the brewing group has challenged a 52 mln stg payment to a us lawyer who says he organised its controversial takeover of scotch whisky maker the distillers co plc but attorneys for lawyer thomas ward a member of the guinness board told a court yesterday in the channel island of jersey that ward saw the payment as his reward for services in last years 27 billion stg takeover
mafina issues 200 mln sfr bond with warrants
webcor electronics inc said its principal creditor its bank has demanded payment of all webcor obligations to it
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
fidelcor incs fidelcor business credit corp subsidiary said it reached a definitive agreement to acquire a substantial portion of the bank of new england corps bkne lazere financial corps assets
amb said the 500 mln mark drop in bfgs business volume to 501 billion marks affected the interest surplus
prices pushed ahead to new contract highs extending gains past three year peaks set monday as tight supplies forced meat packers to bid aggressively for available animals
jardine matheson decided to withdraw its issue because of a joint announcement earlier today by ronald li chairman of the stock exchange of hong kong and securities commissioner ray astin that the listings of new b shares would be barred
usairs balance sheet and cash flow support of debt among the strongest in the industry would be weakened by financing all cash acquisitions of piedmont and psa inc
so even though interest rates had dropped the ratio hardly changed
correction two brazil shipping firms settle in todays sao paulo story headlined two brazilian shipping firms settle with strikers please read in second para offer from the companies global and flumar instead of offer from the companies globo and flumar corrects name of first company
citicorp ccin and chase manhattan corp cmbn have already entered the japanese securities market by acquiring uk securities houses already operating in japan
japan fund jpn seekers confident of financing
the company also said it believes that brazil will reach an agreement with its banks and that interest payments will resume later in 1987
the issue which remains open until october 28 was fully underwritten last week when the issue price was set
once exercisable each right would entitle a holder to buy 1 500th of a share of datacard series a junior participation preferred stock for 35 dlrs
the two disputes are not related
the us senate agriculture committee may take up a bill tomorrow that would strengthen the activities of us agricultural trade teams in selected developing countries committee staff said
a finance ministry official said the ministry has recently conducted a survey on foreign exchange transactions by institutional investors but declined to say if it was aimed at moderating their dollar sales
for many third world nations the loss of the forest is not just a loss of resources said delfin ganapin a philippine government consultant on environmental impact
at the end of february there was a total of 39 billion francs in bifs in circulation
thai banks weigh new interest rate cut
silas said the 1986 assets sales will not affect earnings for the company
us senate cuts off stall tactics on gulf bill
dealers said life insurance firms were not major sellers of dollars in recent trading sessions because they had already sold them to hedge risks
consolidated professor cpfto 1st qtr net
dutch gross national product is expected to rise to 43220 billion guilders in 1987 in constant prices a two pct increase from last years 42395 billion
usair could feed the intenrational flights of twa which has a midwest presence in its st
bp has a 437000 bpd refinery in rotterdam a 181900 bpd unit at ingolstadt west germany a 181900 bpd plant at lavera in france and a smaller swedish plant
canada and the us agreed last december to the 15 pct charge ending a lengthy trade dispute over alleged canadian subsidies to canadas softwood exporters
the certificates and 2259 mln dlrs of cc subordinated debt remain on s p creditwatch with positive implications
the next meeting is scheduled for april 16
exports totalled 24 billion taka in october as against 258 billion in september and 229 billion in october 1985
robert durham said the company is prepared to make another large non copper acquisition and that a deal could be struck in the near future
shr 50 cts vs 35 cts net 427 mln vs 299 mln revs 2365 mln vs 2182 mln nine mths shr 124 dlrs vs 102 dlrs net 1058 mln vs 869 mln revs 7025 mln vs 6425 mln note 1987 nine month earnings include nonrecurring gain of nine cents a share from sale of the companys data card investment
moodys investors service inc said it upgraded the ratings on nrm energy cos senior cumulative preferred depository units to b 3 from caa
it said the pipeline could provide petromont with feedstock at one third the cost of moving it by rail
while low inflation permits the fed to maintain an easier monetary policy brusca said if import prices do not rise this could necessitate a weaker dollar
the remaining 10 billion consists of seven billion owed by government agencies and three billion by the private sector
we have sacrificed a great deal already he said
melvin sims usdas general sales manager told a house agriculture appropriations subcommittee hearing that the two departments are negotiating a memorandum of understanding on cargo preference
although market expectations are for february us retail sales thursday and industrial production friday to show healthy gains figures within or slightly below expectations would be positive for the market the analysts said
although local banks tried to follow suit turkeys exports declined last year to 74 billion dlrs from 79 billion in 1985 and bankers doubt there is enough business to go round
it said it also told triton it may depending on market conditions acquire 50 pct or more and possibly 100 pct of the voting securities of triton it said it received clearance to buy up to 50 pct of the stock on september 11
western digital corp wdc redeems debt
s and p cited concerns over bethlehems viability over the intermediate term rather than any immediate threat to solvency
new york investor george soros and an investment fund he controls said they raised their stake in king world productions inc to 2485510 shares or 81 pct of the total outstanding from 1986710 shares or 65 pct
weightings match the respective countrys share in finlands foreign trade
corporation officials told the country has already imported 37000 tonnes of sugar and will buy 113000 tonnes more to make up shortfall in the 1986 87 year ending june 30
sun state savings and loan expects to report an earnings increase this year over 1986 chairman edward janos told shareholders at the companys annual meeting
abroad the circle of problem debtor countries rose last year although the ratio of credit exposure to provisions improved further
the sources said the world bank is expected to approve the loan by august after a review of the governments non financial institutions
sankei building issues equity warrant eurobond
he said if he fails in talks tomorrow and friday to forestall sanctions he will seek further talks with us trade representative clayton yeutter
justin industries inc jstn sets dividend
there is ongoing serious thought applied to dome in nova and in husky but no decision of substance as to future action has been taken in either company blair said
the earthquake which hit northern chile today registering 70 on the open ended richter scale caused no damage to the copper mine at chuquicamata a mine spokesman said
it is only the middlemen who will benefit he said
last week iowa beef said it would lift a lockout in effect at the plant since mid december which affected 2800 members of the united food and commercial workers union
i profoundly believe in the market system as the best way for securing economic prosperity but that does not mean to say the markets are infallible my advice to small investors is to remain calm
the following proposed securities offerings were filed recently with the securities and exchange commission southeast banking corp stb offering of 50 mln dlrs of convertible subordinated capital notes due 1999 through lazard freres and co
teledyne inc tdy owns about 984 pct of unicoas outstanding shares
mcfarland said it would exchange one common share for each 54 petrominerals shares
rates in the us were however rising as evidenced by the latest prime rate moves but this rise would be moderate
out of 105 mln acres only 19 mln acres were accepted in corn thats neutral at best and perhaps bearish to what the trade was looking for dale gustafson of drexel burnham lambert said
iceland needs to try harder to implement its new economic strategy if any more progress is to be made towards sustained and balanced non inflationary growth the oecd said
fleet has total assets of about 21 billion dlrs
his letter of resignation said the action was to alleviate ciba geigys stated justification for making the unsolicited offer that it had not contemplated another significant investor having representation on the board when its spectra physics investment was made
us trade representative clayton yeutter also said it was important agreement on agricultural trade reform was reached as early as possible
bancroft convertible fund inc the target of an unfriendly cash offer by zico investment holdings inc said its shareholders approved proposals requiring a 66 2 3 pct affirmative vote of all outstanding shares before fundamental changes in its status could be made
price details were not available
tightening up on the use of generic in kind or pik certificates will also be another option his committee will study glickman said
manufacturers hanover did not name an underwriter for the offering
woolworth said it had received acceptances from the holders of 61 pct of superdrug shares
healthcare also said the board has authorized the sale or lease of certain assets to reduce the cash required from the revolving credit line for completion of current construction projects
but for high cost producers 0 92 would be more attractive
the company said it has obtained 150 mln dlrs in financing from a bank group for the deal and the common shares are subject to a 10 year restriction on their sale and voting
clausen also said it will continue to phase out its overseas retail banking and concentrate on wholesale banking with emphasis on a premium list of multinational corporations
whipple here to attend the geneva auto show which opens on thursday said that the ford motor co unit had sold a record 15 million vehicles in europe in 1986
under the new budget georgia power said its share amounts to 387 billion dlrs
trilogy also said its board approved a private placement of 35 mln common shares at a price of 90 cts per share to a group of investors
the arrangement calls for san bar to spin off assets of its break free division to shareholders then exchange its own shares for resdel stock at a ratio of one resdel share for each san bar share held resdel said
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
commenting on the companys longer term earnings outlook gluck said we project net income to increase to 862 mln dlrs in 1992 reflecting increased operating income and lower interest expense due to the retirement of 267 mln dlrs of debt incurred in connection with the recapitalization he said the company does not usually release projections but has done so now beause of the significance of the recapitalization
chemical reported first quarter net income of 862 mln dlrs down from 1026 mln a year earlier but declaring the brazilian loans non performing cost chemical 21 mln dlrs in lost interest income or 12 mln dlrs after tax
in its annual report and in a briefing for reporters the bank made it clear however that the latin countries needed vast amounts of new investment if they are to strengthen their ailing economies in the period ahead
it will be available in denominations of 1000 and 10000 stg and will be listed in london
lead manager is union bank of switzerland
regular government securities issues are needed to meet the demand of banks insurance companies other financial institutions and corporate and individual investors hu said
national heritage inc a unit of southmark corp said it began an initial public offering of two mln shares of common stock at a price of 950 dlrs a share
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
january wheat exports comprised 251000 tonnes to european community destinations and 284000 tonnes to third countries
its sort of a sausage maker business where you put in place the sausage grinder and the more sausage you can stuff through the more money you make he added
showa denko withdrew from smelting last year but expects to increase its sales of equipment and technology he said
if the situation persists into winter heating season high cost gas could cut in the companys profits he said
volcker urges quick aid to debtor nations
4 will also allow for conversion of public sector debt into investments in venezuelan private industry
the us current account deficit widened to a record 3684 billion dlrs on a balance of payments basis in the october december fourth quarter of 1986 from a revised 3529 billion dlrs in the third quarter the commerce department said
energy secretary sees higher oil prices
period ended december 31 1986 shr loss one ct vs profit two cts net loss 52922 vs profit 220041 revs 481832 vs 824554 six mths shr loss one ct vs profit four cts net loss 104129 vs profit 345515 revs 937685 vs 1460000
a spokesman for ltv steel co a unit of ltv corp qltv declined comment adding that the company does not make heavy plate and makes few other plate products
du pont dd to sell cleveland plant
demand deposit rates however will remain the same
jp industries said it is not aware of any other reason for activity in its stock
shr 227p vs 203p
proceeds will be used for expansion and acquisitions
malaysias net external borrowings for 1987 are expected to be maintained at around last years levels of about 145 billion ringgit zain azraai secretary general to the finance ministry told an investment seminar here
anchor glass agls now sees higher 1st qtr net
the proposed note issuance facility for elders ixl ltd has been reduced to 100 mln australian dlrs from the original 200 mln dlrs lead manager westpac finance asia ltd said
it said it was not ready yesterday to take a stand but did not say why
subroto attending a pacific energy cooperation conference blamed recent rapid spot price changes on unbalanced supply and demand
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
preparatory work for construction of a 450 mln dlr alumina plant near the village of aghia efthymia in the greek province of fokida will begin at the end of next month and the plant will be operational by 1992 industry undersecretary george petsos said
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
however he appeared to discard earlier venezuelan proposals for a direct link between oil income and debt payments because circumstances change too quickly at the same time he said the government is presently studying possible mechanisms for capitlizing public and private sector foreign debt based on experience in other countries
adsteam said it sees 1987 88 as a year of reconstruction and consolidation with the capital base boosted by the issue
but mainichi quoted nippon steel officials as saying if prices are reasonable they would export their used mills to china
natural gas prices rose 18 pct after a 42 pct rise in january
telex corp to investigate alternatives to tlx partners bid may seek other purchasers
shr 20 cts vs 32 cts net 1358000 vs 2476000 revs 271 mln vs 262 mln nine mths shr 68 cts vs 105 dlrs net 4957000 vs 8129000 revs 826 mln vs 788 mln
lifetime lft to buy shares of nippon lace
statoil will head exploration on blocks 7224 7 and 7224 8 sharing the licence with exxon corps xonn norwegian subsidiary esso norge a s the british petroleum co plcs bpl bp petroleum development norway ltd shell norsk hydro and saga petroleum a s sagpol blocks 7219 9 and 7220 7 were awarded to norsk hydro the operator statoil mobil corps mobn mobil exploration norway petrofina sas petbbr norske fina a s and bp
it was a deterioration in the countrys trade balance which precipitated brazils current debt crisis and the decision on february 20 to suspend interest payments on 68 billion dlrs of commercial debt
the company said 423 feet of the hole graded 092 ounce per short ton of gold including a 175 foot section grading 217 ounces
the period weve gone through in the past five years has been quite a crunch he said
the western financial units securities have an average life of 14 years and mature march 1 1990
aegon nv aegnas buys life investors shares
the annual report for the most recent year has not been filed
final terms set on bell group convertible
producer split heats up coffee quota talks
bankamerica corp chairman aw clausen said the bank holding company plans to go foward with its one billion dlr debt offering but declined to specify when
labour office president heinrich franke announcing the figures said the hesitant decline in the unadjusted jobless total reflected continuing bad weather slack activity in the capital goods sector and structural changes in the coal and steel industry
financement local et regional floral a finance house managed by caecl will issue an 800 mln franc bond and caisse nationale de lenergie will issue a 650 mln franc bond of which one of the lead managers will be banque nationale de paris
it therefore took the bold step of withdrawing more than 50 billion riyals from its reserves and pumping it into the economy he said
japans ldp urges more imports of 12 farm items
hutchison and hongkong will indirectly hold 43 pct victor tk li will own nine pct and canadian imperial bank of commerce will have a five pct interest
commerzbank ag cbkgf management board chairman walter seipp said he hoped the bank would this year found a 100 pct investment bank subsidiary in new york
amro said the bonds the second dual currency issue in the dutch market in two weeks is aimed at investors who expect the dollar to rise in the medium term
if our creditors considered retaliation brazil would lose its capacity to export thus would never be able to pay its debt gros said in a news conference
miller richard e
the company said details were not disclosed
non refundable for 10 years the issue is rated a 3 by moodys and a minus by standard and poors
it also has the marketing contract for mineral sands produced by tio2 corp nl of which it holds 175 pct
engelhard corp said its board declared a three for two stock split and raised the quarterly dividend to 19 1 2 cts per share presplit from 19 cts both payable march 31 to holders of record march 17
euro medium term notes poised for growth
however eurostat said the ec was still beaten by japan where prices were provisionally 01 pct lower in may than a year earlier
in the netherlands the cost of living is expected to decrease by 15 pct at a gnp growth rate of two pct the dutch central planning agency said in its 1987 forecast last month
the bank of america certificates were issued by california credit card trust a which the bank established for that single purpose investment bankers pointed out
the company said it has also demanded repayment of a 150000 dlr loan made to united western
under the new procedure all current outstanding and all new upland cotton certificates issued under the 1986 upland cotton program will have an expiration date of either february 29 1988 or nine months from the last day of the month in which the certificate is issued whichever is later
herold inc in greenwich conn
qtly div five cts vs five cts prior pay may 13 record april 14 note company said up to 20 pct of dividend payment may be withheld in accordance with puerto rico tax law
shr 43 cts vs 52 cts shr diluted 41 cts vs 49 cts net 1916000 vs 2281000 revs 326 mln vs 226 mln
we have not had a period of profitability of this magnitude since last summer levitt said
todays rate was reduced to 027939 73 to the dollar from 027758 92 on wednesday before the four day bank holiday that celebrated the end of the fasting month of ramadan
the achievement of a sustainable pattern of us international transactions and more stability in exchange rates are ones with which i remain sympathetic he said
in 1987 income will be higher private consumer spending is likely to recover and expand the budget will remain under strict control the resource gap in the governments finances on current account will be bridged over the near term bank governor jaafar hussein said in the report
total us domestic usage of the nine major oilmeals rose to a record 19 mln tonnes in october 1986 august 1987 up 42 pct on the same year ago period with the increase in soymeal at seven pct it said
at a drexel burnham lambert investor conference coopervision chairman parker montgomery said as previously announced he will listen to any bid that makes sense for shareholders
the exchange said delivery will be fob from the sellers pipeline storage or fractionation facility in mont belvieu texas which has a direct pipeline access to the texas eastern transmission pipeline tet in mont beliview
exchange rate stability is in the uk s interest he told journalists
icns principal product is ribavirin also known as virazole
schlumberger says it terminates pact to sell fairchild semiconductor business to fujitsu
at the very least it is high time that we require all risk arbitrageurs to register seperately and specifically with the securities and exchange commission and that we consider precluding brokerage firms and their employers from investing in or owning any securities issued by third party risk arbitrage operations proxmire said at the start of a hearing on corporate takeovers
yields varied widely from area to area and growers feared that heavy rains in recent weeks may have taken their toll on crops and consequently on total production volume
nationale nederlanden profits sales steady
gartner group gart acquires comtec program
januarys record 30 pct unemployment rate mainly stemmed from loss of jobs in manufacturing industries particularly in export related firms due to the yens continuing appreciation against the dollar officials said
hannes androsch chairman of austrias creditanstalt bankverein said there was some truth to the charge
thats a very healthy development he added if you asked me about that a year or 18 months ago i would have said that it was terribly protectionist members of congress that is the contemplative members of congress have begun to realise protectionism is not the answer to the 170 billion dlr trade deficit yeutter said
ho said the cuts may come into effect by the end of next month
syndication for elders note facility closes
the philippine long distance telephone co pldtmn is planning a two for one stock split and a 20 pct stock dividend later this year to reduce excess market buoyancy vice president sennen lazo told 
wardair international ltd is third with about nine pct
funaro accompanied by central bank president francisco gros is on the first leg of a tour of european capitals in an attempt to explain to governments brazils indefinite suspension of interest payments earlier this month
engelhard builds plant in japan
sturm ruger and co inc said it submitted a bid in excess of 60 mln dlrs for smith and wesson a manufacturer of law enforcement firearms and a unit of lear siegler
the government plans to concentrate efforts on western europe and the us the problem is convincing businessmen that exports are vital to survival in the context of ec competition he said
the adb said it approved 24 mln dlrs to support an agricultural credit project in nepal
ny business loans fall 572 mln dlrs in march 11 week fed says
turning to the international debt problem herrhausen said brazils unilateral debt moratorium had surprised banks
it will also ask for authorisation to issue a maximum of ten billion francs nominal of bonds with share warrants with a one billion franc nominal ceiling on shares that could be obtained through the exercise of the warrants
healthmate inc said its auditors laventhol and horwath indicated they will issue a qualified opinion on the companys financial statements
with the restart of this 22700 tonne a year production line reynolds said it will be operating at 100 pct of its consolidated primary aluminum capacity of 695000 tonnes per year
laser corp said that costs associated with its defense of two shareholder lawsuits could result in a net loss for 1987
merchants national corp with 37 billion dlrs in assets said it will report a loss of 13 mln dlrs for the second quarter due to its decision to increase its provision for losses by 30 mln dlrs mainly due to uncertainties surrounding latin american debt
treasurys baker says exchange rate changes will reduce trade deficit this year
usair u has no comment on twa twa offer
shr five cts vs 51 cts net 2300000 vs 22500000 revs not given note prior shr and net include 203 mln us dlr gain on sale of equity holdings results in us funds
fleet financial group flt 1st qtr net
the remainder would come from new borrowings partly from banks under a four year committed revolving credit facility and partly from a a new us dlr commercial paper programme
selm societa energia montedison is to close its priolo crude refining units from march 15th to march 28th for maintenance a company spokesman said
there will be an immediate repayment of three pct to all the banks to be followed by various payments at six month intervals over the life of the agreement totalling some 15 billion dlrs
payment date is april 23
brazilian coffee institute ibc president jorio dauster said he will not attend the ico executive board meeting and was surprised to hear that a report of his absence had a slightly depressing effect on the new york coffee market today
dow chemical dow to increase prices
it will be denominated in 10000 franc units and be listed in luxembourg
us treasurys baker says currencies within ranges that better reflect fundamentals
they added that the preferred stock is redeemable at the companys option at prices declining to 25 dlrs per share on and after march 15 1997
bangladesh passes on tender for soft wheat
elmira savings bank fsb esbko 3rd qtr net
if we had not supplied oil to ecuador the life of this country would have ground to a halt he said
condon did not say who had made the predictions but an awb spokesman said there was a general industry feeling that farmers hard hit by low prices and rising costs could cut back plantings sharply
diplomats said that in their initial reactions to the scheme most ministers declared it was a useful basis for discussion but did not go nearly far enough
asked about the canadian government decision to apply a duty of 849 cents per bushel on us corn shipments yeutter said the us could file a formal complaint with gatt under the dispute settlement procedures of the subsidies code
this is being done to reduce the costs of liability insurance
last weeks announcement by brazil that it would indefinitely suspend interest payments on an estimated 68 billion dlrs owed to commercial banks prompted japanese creditors to finalise the project the sources said
as of february 28 fas had 790 full time employees a fas spokesman said
under the terms of the merger dixons said the remaining public cyclops shareholders are to receive 95 dlrs a share
the firm said over the weekend that it will conduct its savings and loan activities through standard pacific savings fa a federal stock association
the key 7 1 2 pct 30 year treasury bond price finished 3 4 higher at 95 27 32 pushing the yield down to 786 pct from 793 pct yesterday
it said teberebie goldfields has not conducted tests on the newly granted land but added the land seems to be similar in geological characteristics to the original land
the second blizzard to hit istanbul in a week stopped yesterday afternoon and the international airport reopened today after a two day closure
moodys investors service inc said it may downgrade todd shipyards corps 110 mln dlrs of debt
usda lifts cross compliance for 1987 crop oats repeat from late friday washington feb 27 the usda said it is lifting the limited cross compliance requirement for 1987 crop oats
the well also flows natural gas at the rate of 12 mln standard cubic feet a day he added
zemljaric was not quoted as saying whether the two billion dlrs referred to principal or interest or both
our formula builds flexibility into the system and will benefit almost everyone although full implications of the new formula have still to be worked out initial estimates suggest countries such as colombia kenya indonesia and costa rica would get slightly higher quotas while others such as the ivory coast el salvador and nicaragua would lose quota share van horick said
the notes were priced at 9963 pct to yield 843 pct
james murren of cj lawrence said wendys could be worth 14 to 15 dlrs on a break up basis
shr loss 11 cts vs profit five cts net loss 279726 vs profit 76591 revs 1300000 vs 2200000
it sounds like baker wants it and if people are convinced a deal is going to go through the stock goes up said analyst phil pace of kidder peabody and co
steel output in the major non communist producing countries fell sharply in february continuing a long running trend international iron and steel institute figures showed
separately the company said that a cray x mp 24 system valued at 85 mln dlrs was installed at lockheed missiles and space co
he said the trade problem underscored the need to reform the us educational system to improve economic performance
our foreign debt is high but we can pay and i hope the foreign banking community will maintain its position toward us he said
it said it hopes the appointment will thwart hostile actions being pursued by two unsecured creditors to whose claims the company objects
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
most economists estimate continued high inflation
the federal reserve appears to have intervened in the us foreign exchange market to buy dollars against yen this morning currency dealers said
taiwan announced plans for another round of import tariff cuts on 862 foreign goods shortly before trade talks with washington which officials described as a move to help balance trade with the united states
between them these countries have more than enough voting power to block it
the bank said its expects to report estimated net of over 15 mln dlrs for 1987
but activity in the retail sector declined slightly over the past two months
butler manufacturing co said it completed sale of its livestock systems division and part of its control division in separate transactions to two unrelated parties
the magazine said however that reagan remained personally popular
lyng told in an interview that the two countries have been discussing a package but that he did not expect the specifics of the offer to be announced during indian prime minister rajiv gandhis visit here this week
funaro has rejected suggestions for negotiations with the imf and said there is no question of brazil agreeing to an austerity program with the fund
almost all of the decline is expected to occur in the us for which he estimated ending stocks next season at 107 mln tonnes or 393 mln bushels against anticipated ending stocks of 15 mln tonnes or 551 mln bushels at the end of this season
thai sugar production totalled 960788 tonnes in january an increase of 127 pct on january 1986 according to figures received by the international sugar organization
in contrast to dec ibm faultered with an incompatible mid range product line
first federal savings bank of delaware said its agreement to negotiate exclusively for its sale with oxford financial group has been extended until april 8 from march 18
brokers choice to buy rubbertech
quebec caisse desjardins brings euroyen bond
shares of temple inland inc tin and international paper co ip rose sharply this morning following a recommendation by prudential bache securities traders said
it said the amount of notes originally issued totaled 60 mln dlrs
the weather bureau said the rains which in buenos aires have surpassed 750 mm in the last 30 days could continue
dome said the most significant accounting change under the new guidelines is using current oil and gas prices in calculations instead of escalating price forecasts
1985 net includes pretax charge 1200000 dlrs in quarter and gain 1400000 dlrs in year from restructuring and consolidation
powerful agricultural cooperatives are fiercely opposed to import liberalisation but are more flexible about reforms aimed at stepping up productivity they said
quantities offered at the auction also fell to an average of 300 tonnes per auction last month from 800 tonnes in december because of wintering in early february in producing areas
the law would allow eligible farm workers who worked for 90 days during the year ending may 1 1986 to apply for temporary then permanent resident status
independent chairman for dutch cargo dispute
he said this could bring about what he called a possible automatic capitalisation of those parts of debt interest that could not be paid and even the elimination of a portion of the debt
it said major buyers last month were singapore japan britain the netherlands malaysia and the us
the notes are non callable for seven years
a minor tax payment period on behalf of customers mid month the long easter weekend and pension payments were unlikely to tighten rates significantly
the transaction was approved by the us bankruptcy judge in denver who is hearing kaiser steels chapter 11 reorganization case
huntington bancshares inc hbano 3rd qtr net
the central banks averaged out day to day call money rate the reference rate for interbank money market operators which reached 8 3 4 pct on february 18 has fallen to 7 3 4 pct this week dealers noted
the earths upper ozone layer absorbs most of the harmful ultraviolet rays from the sun
tultex corp ttx 2nd qtr may 30 net
opec president lukman expects short calm meeting
terms of the acquisition were not disclosed
a study group said the united states should increase its strategic petroleum reserve to one mln barrels as one way to deal with the present and future impact of low oil prices on the domestic oil industry
the company said subject to contigencies including future sales and profit levels mcdowell could over a four year period acquire 100 pct of interpharm in exchange for up to 51 pct of mcdowells voting stock
he would not say how much the country would earn in 1987
some arbitragers said there is now some risk in the current price of piedmont since it is not clear that usairs bid will succeed
the company said the split is subject to approval of the securities and exchange commission under the public utility holding act
san miguel brewery ltd a locally listed firm 6965 pct held by san miguels neptunia corp affiliate was last traded at 1630 hk dlrs against 1550 dlrs on friday
miami based wallco manufactures and distributes wallcoverings and showed a pretax profit of 15 mln dlrs on turnover of 37 mln in the year ending june 1986
the decision was based on among other things the advice of its financial advisors goldman sachs and co that the offer of 145 dlrs per share was inadequate
however some of the tonnage included duplicate bids for supplies in the same stores
the merger is expected to close on april 22
major tin centers paralysed bolivia union says
the commercial bank rescheduling has yet to be finalised because of the reluctance of japanese banks to participate in the agreement despite a recent trip to japan by senior nigerian officials and representatives of the steering committee
an investor group headed by members of the wealthy bass family of fort worth texas also holds about 249 pct of tafts common stock
1987 results reflect the tbs merger agreement and operations of the company as independent agent
dealers said the dollar will gain only temporary support to rise above 150 yen toward early april when the group of seven industrial nations meets to discuss currencies again
since last thursday united states treasury secretary james baker has criticized the bundesbank rate increases
the price fell from 24 dlrs to 1650 dlrs a share following the reebok announcement
it repeated a statement made in its initial sec filing last month that it is considering several alternatives including seeking control of cenergy
he said reagan last year rejected the idea and he added in my personal view he is not likely to change his thinking on that he said reagan last year opposed the idea because the energy industry was divided on the issue a tax would require a new bureacracy to administer and the resulting higher energy prices would harm us competitiveness
the comex fined elders futures and three other large firms a total of 100000 dlrs for failure to resolve unmatched trades in a timely manner
payment date is april 2 1992
moodys investors service inc said it downgraded the ratings on six billion dlrs of debt of merrill lynch and co inc
bp international and bp north america are seeking a five billion dlr four year syndicated credit facility in support of british petroleum co plcs tender offer for the 45 pct of standard oil co it does not already own morgan guaranty trust co of new york said as arranger
orange julius announced the proposed sale of the units when a letter of intent was signed february 17
today overnight touched a high of some 11 3 4 pct after the bank took out 228 mln stg of an estimated 300 mln stg shortage
burry previously had a sell recommendation on pepsico
brazil criticises advisory committee structure
zccm which monopolises copper mining in zambia and accounts for about 90 pct of the countrys foreign exchange earnings made a net loss of 718 mln kwacha in 1986 compared with a net profit of 19 mln kwacha the previous year
nevertheless japanese officials said they remain in a weak bargaining position especially with the threat of a trade bill overhanging them
out of this traders in france received 18000 tonnes in denmark 15000 in west germany 12250 in the netherlands 12000 and in belgium 3250 tonnes it added
archer daniels midland co denied a report that it is interested in acquiring international minerals and chemical corp igl we have no interest in international minerals or any of its divisions a spokesman told 
in its weekly petroleum status report the energy department agency said distillate demand was down 21 pct in the period to 337 mln bpd from 344 mln a year earlier
london based dealer gill and duffus recently forecast 1986 87 ivory coast cocoa output at a record 590000 tonnes which compares with 585000 estimated for 1985 86
16 at chicago illinois 5 at new york new york
the psbr at four billion is lower than anyone realistically expected bell said
among the host of amendments to restrict imports approved by the panel the most significant would require quotas on imports of goods containing more than 25 pct of a bulk farm product that is subject to us quotas
business investment in plant and equipment rose 08 pct in the fourth quarter partly reversing the cumulative drop of 58 pct in the two previous quarters
healthcare services hsai sees write offs
personal computer products inc said it expects to report a loss of about 195000 dlrs in its third quarter ended march 31 compared to a year ago loss in the quarter of 169000 dlrs
argentina said last month it would suspend debt payments if creditor banks did not loosen repayment terms and grant a new 215 billion dlr loan
weatherford international inc wii 4th qtr loss
the notes have a 7 1 2 pct coupon and were priced at 8987
shv holdings nv said it is withdrawing its take over bid for imperial continental gas association icgsl after failing to gain the minimum number of pledges sought from ic gas shareholders
they said prices which have steadily climbed since the organizations accord in december have risen on technical factors within the market and concerns about supplies because of the iran iraq war which could disrupt deliveries from the gulf
ericsson sells office machine division
world bank president barber conable said he believed that brazil would come up with a medium term economic plan and that the current debt moritorium would be temporary
he attributed the fall to the rising taiwan dollar
only two of the oil majors had managed to make a profit in the period with shell oil being one of them
walker telecommunications corp wtel 4th qtr
strong winds of 20 to 35 mph with some stronger gusts were reported across much of the plains causing considerable blowingand drifting snow
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada fell 129 billion dlrs to 21633 billion dlrs
at a news conference ec farm commissioner frans andriessen said the commission is also working on proposals to enable the ec and member states to provide direct income supports for relatively poor farmers
the leveraged buyout is being financed by a syndicate of seven banks led by the security pacific national bank unit of security pacific corp spc the announcement said
they will also get rights to income tax deductions equal to the price of each unit
amr corps american airlines unit said it plans to complete the integration of aircal into its operations within four to five months
the poll delayed presentation of the national budget
the swedish match deal will cost the wallenbergs about 400 mln crowns share analysts said making it one of the most expensise moves the group has undertaken in the last four years to defend its far flung interests from outside predators
on may 18 data general said it will redeem 150 mln dlrs of outstanding 12 3 8 pct sinking fund debentures due 2015
southmark corp sm which owns 80 pct of national heritage recently agreed to acquire the 28 facilities
contents of the report were leaded well ahead of issuance
oper shr 35 cts vs 34 cts oper net 2313000 vs 1646000 revs 1001 mln vs 773 mln note 1986 net excludes extraordinary loss of 294000 dlrs or four cts vs shr vs yr ago loss of 579000 dlrs or 12 cts shr
morrison projects phelps will earn 325 dlrs in 1987 and four dlrs in 1988 while roling sees earnings at 275 dlrs this year and around 350 dlrs next year
if the bundesbank wants to finely steer the market then they should avoid such excesses
sportscene restaurants inc said it acquired cafe christophe van houtte inc a cafe chain with ten franchises and one corporate restaurant for an unspecified amount of cash and sportscene shares
greenmail is the payment at a premium for shares held by an unwanted suitor and a poison pill is typically the issue of securities to shareholders which make a takeover more expensive
bp units seek five billion dlr revolving credit to support standard oil tender
one said it purchased 150 to 200 mln dlrs in the half hour since the market re opened after its lunchtime closure
rainbow earlier this week lifted its stake in progressive to 52 pct from 44 pct
claremont added that it asked champion to put two representatives on its nine member board of directors
shares not accepted in bilzerians tender would be exchangeable for 20 dlrs in convertible preferred stock
at a meeting of ec foreign ministers britain called for a full debate on a proposed tax on edible oils and fats that has already angered ec consumer groups and unleashed washington led protests from exporters to the ec diplomats said
shr 12 cts vs 10 cts net 196 mln vs 176 mln revs 276 mln vs 1704 mln avg shrs 853 mln vs 848 mln note company owns 65 pct of bramalea ltd
the agreement would also have limited its ability to buy sgl shares dart said
tribune trb scripps scrp exchange papers
free market prices are currently just over 16 dlrs
us officials in washington and malaysian officials in kuala lumpur expressed a policy of looking at each commodity pact case by case
he also said reeves and walsh had been paid a total of 562000 stg in compensation following their resignations but declined to say how much each man got
reagan signs gnma bill with reservations
united food and commercial workers union local 222 rejected a new contract proposal from iowa beef processors inc and remain out of work union spokesman allen zack said
bankers said this could foreshadow a revival of the 1986 war of words between the us and west germany in which us officials talked down the dollar to force west germany to stimulate its economy and thus suck in more us exports
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 but he said the gatt round is a long term endeavour
the officials said discussion of a us agriculture department wheat export subsidy to the soviet union was not on the agenda
communaute urbaine de montreal issues notes
it had no meeting scheduled with the other three striking locals which rejected a tentative three year contract saturday cominco spokesman richard fish said
the sia in a report adopted yesterday by its board of directors backed a higher enforcement budget for the federal securities and exchange commission and called on us stock exchanges to beef up their supervision of member brokerages
duff and phelps selected utilities inc said it approved payment of higher monthly dividends
volcker says further sizeable decline in dollar could be counterproductive
general electric co plc gecll gec declined comment on rumours on the london stock market that it is planning another purchase in the us medical equipment field in addition to its existing us subsidiary picker international inc a gec spokesman said that it is company policy not to comment on acquisition rumours
orbanco with one billion dlrs in assests is the holding company for the oregon bank orbanco real estate service co american data service inc and orbanco securities corp
output in services producing industries declined 01 pct from decembers level
while acknowledging that it is harder to increase japanese imports of american chips miti officials said that the ministry is doing all it can to ensure that happens
the operation will put the outstanding bill supply at about 1300 yen
subroto said indonesia needed the companies to maintain exploration efforts even if their contract was due to expire within 10 years
in response to hostile questioning from a member of the house appropriations committee the officials said the plan was justified to help bring the fiscal 1988 budget deficit and to get the government out of the oil business
shell uk chairman bob reid said the companys crude oil output from the north sea was at a record 373000 bpd in 1986 which would almost certainly prove to be a peak for the company
the italian firms spanish subsidiary ferruzzi espana sa took the majority equity stake with the remaining 33 pct retained by guadalco
hachette closed at 3280 up from a previous 3250
i strongly doubt that there is going to be any hostile takeover drexel burnham lambert incs houston based analyst john olson said putting little credence in the rumors
first eastern corp febc 1st qtr net
some analysts believe icahns proposed three way airline combination might face insurmountable regulatory hurdles but others believe it could be cleared if the companies are acquired separately
cpl real estate cntrs sees lower dividends
manufacturers hanover files for 82225 mln dlr debt offering
proceeds will be used to finance development
the divisions provided 384 pct of allied net sales and 118 pct of store profit in fiscal 1985
the company said two holders of 299 mln dlrs of debentures who have already exchanged their holdings for 208 mln common shares and 235 mln dlrs principle amount of notes will resubmit the securities to meet the terms of the current exchange offer
the bank gave no reason for the fall but local bankers said big import bills had affected the reserves
us and canadian negotiators opened talks last summer aimed at dismantling trade barriers between the two countries the worlds biggest trading partners with crossborder shipments of about 150 billion dlrs annually
but for flexibility purposes merrill lynch said it is considering redistributing borg warners assets to a number of subsdiaries of an entity it created to carry out the merger
jacobs said the increase in profit which far exceeded the companys target of five pct real annual growth had been made possible by restructuring measures introduced in january 1986 which had also made some major acquisitions possible last year
in addition the company said it authorized the repurchase of up to an additional one mln shares of its common stock
the dollar quotation for the high grade contract will be in multiples of one us dollar but carries may be made at 50 cents for even tonnages only
i do think we ought to be thinking about and working toward greater exchange rate stability volcker said
the shipment period required was not specified
researchers measured the fat content of the seven muscles before cooking and the fat moisture and tenderness of cooked boneless rib chops
nowak said the company has done an outstanding job reducing expenses and arco is poised to generate greater earnings power he said first quarter earnings will likely exceed the companys expectations stated yesterday and be in the 115 120 dlr a share range
in new delhi an indian spokesman said the plan to send a flotilla of 20 small unarmed boats with red cross supplies to jaffna tomorrow would go ahead despite colombos objections
chrysler corp today sold 405 mln dlrs of corporate bonds from its nearly 35 billion dlr pension fund to wall street investment bankers vice president and treasurer fred zuckerman said
amsouths assets are about six billion dlrs
cascade importers unit acquires paris company
shr 42 cts vs 35 cts net 570000 vs 476000 sales 1224 mln vs 1231 mln notel prior year net includes pretax charge 453000 dlrs for reopening of eight stores
american century act restates earnings
city resources ltd said it has agreed in principle to sell a 50 pct interest in a group of mineral properties in the southwest pacific to a buyer it did not name for 30 mln canadian dlrs
williams earlier informed norcros that it holds some 2890000 of its ordinary shares or 22 pct of those issued
last years crop equalled the second highest ever at 132 mln tonnes
he also said that petroleum futures are a major market for oil companies as well as for commodity traders
cenergy corp reported fourth quarter net income of 790000 dlrs or seven cts per share on revenues of 77 mln dlrs
industry sources said latest forecasts for the 1987 crop indicated output of 360000 tonnes well down on the record 501800 tonne tel quel production in the 1986 may december crop year
that may be one of the factors that would be weighed in the judgment he added
1986 qtr and nine mths includes gain 2158000 dlrs or 47 cts per share and 5567000 dlrs or 122 dlrs per shr respectively from utilization of tax loss carryforward
irwin jacobs has gillette gs stake
we base our assessment not on chinas foreign exchange reserves but on its export performance just as you assess a company on its performance not its bank account he said
financing requirement of metropole would be about 700 mln francs over the next four years of which lyonaise des eaux would provide about 175 mln monod said
japan has said that if reagan imposed the tariffs it would file a complaint with the general agreement on tariff and trade gatt it said hoped gatt would find the us retaliation had violated the regulations of the global trading group and would approve compensation or japanese retaliation
he said his revenue estimate for fiscal 1987 does not include possible further acquisitions and said that the addition of gsx will produce increasing benefits in fiscal 1988 through fiscal 1990
fees consist of a 1 1 4 pct selling concession and 5 8 pct combined management and underwriting
he said the us debt strategy which envisaged stepped up lending by commercial and multilateral banks to major debtor nations of 29 billion dlrs over three years was insufficient to achieve the necessary rates of growth
for all 1986 foreign purchases of securities excluding us treasury securities were a record 707 billion dlrs surpassing the previous record 509 billion dlr total in 1985
the figure which excludes construction and public works put the february index base 1980 at 102 after 99 in january
what we need is a resolution of trade issues we need visible efforts to restructure the economy to encourage more imports and we need greater domestic led growth forecasting sluggish economic growth in japan this year wallis urged tokyo to stimulate domestic demand to help reduce its trade surplus which hit a record 83 billion dlrs in 1986
comdata cdn accepts new welsh carson bid
the warrants run for three years
the company said after it installs the new fuel system it will retest the automobile
the api reported crude runs 154000 b d higher for the week ended march 13
bp bp starts bid for standard oil srd shares
canada industrial production up 253 pct
middle south utilities inc msu 3rd qtr net
in a statement at a white house meeting with senate republicans on the legislation he said i would have no choice but to veto that bill in its present form he said the measure would move us exactly in the wrong direction towards high tariffs trade barriers trade distorting subsidies slow growth and crimped world markets and would destroy jobs
the new york mercantile exchange expects to submit a propane futures contract for federal regulatory approval within a few days according to an exchange spokeswoman
currency in circulation in february fell to 743 billion ringgit from 832 billion a month earlier but was up from 718 billion in february last year
the previously announced float of part of its delhi interest will not now proceed csr said in the statement
i think any central bank certainly this one after the events of the past two or two and a half years has to be prudent
enrollment in usdas basic acreage reduction program will likely total close to 90 pct agricultural stabilization and conservation service ascs officials said with 50 to 70 pct of the enrolling farmers also expected to sign up for the paid land diversion program
but plans to link the six currencies in a european monetary system style with a common peg have been discussed at high level and could be a topic on the gccs annual summit expected to be held in saudi arabia late in the year
royal bank said first quarter international net interest income declined from last year reflecting reduced revenues from international investment banking as well as a significant loss on disposal of its affiliate in trinidad and tobago
we do have difficulty with repayment of loans on time dei anang said
it said the remaining nine pct will be held by milex shareholder norman monson who will become chief executive officer of the combined companies
bally manufacturing corp said it expects a charge to earnings in the first quarter of this year of 173 mln dlrs as a result of its deal to buy back 26 mln of its common shares from real estate developer donald trump
murakhovsky said the soviet union was prepared to talk with anybody with interesting proposals offering latest technology and assuring a mutual advantage he said the soviet union had many tasks ahead of it and would deal rapidly with proposals it considered interesting
harris associates lp a chicago investment advisory partnership said it lowered its stake in triad systems corp to 1355296 shares or 179 pct of the total outstanding from 1463962 shares or 193 pct
pubco corp pubo year net
de groote also said the company expects excellent results in the second quarter ended february 28 but would not be more specific
he did not say how much of a price hike he expected
sumitomo bank sumi declares stock dividend
the tariff cuts of between five and 30 pct will take effect on july 1
first bank system said it has agreeed to sell its first bank lewiston subsidiary of lewiston mont to two local bankers for undisclosed terms
the weighted average yield for 50 mln nz dlrs of 77 day treasury bills sold in this weeks regular weekly tender was 2497 pct the reserve bank said
the commodity credit corporation ccc has accepted a bonus offer from an exporter on the sale of 13 head of dairy cattle to morocco the us agriculture department said
mpt has helped block finance ministry plans to deregulate interest rates on small deposits a key element in financial liberalisation since the change would remove the postal savings systems ability to offer slightly higher rates than banks they said
non callable for three years the debt is rated b 3 by moodys and ccc plus by standard and poors
a dividend of 11 marks would be proposed for the companys new preference shares
senate democratic leader robert byrd and republican leader bob dole both told the senate reagans decision was long overdue and urged japan to open its markets to us goods and stop dumping on world markets
it is supplying fewer reserves than are needed bank funding costs and other short and long term interest rates rose sharply friday and today on heightened speculation that the fed is gently firming monetary policy
chancellor of the exchequer nigel lawson told reporters earlier today that some countries those with strong currencies might have to cut interest rates
computer network technology corp cnt said that quantum venture partners lp a private investment limited partnership has acquired an additional 600000 shares of cnt common stock raising its stake in cnt to 153 pct from 96 pct of the currently outstanding shares
vr vrbbo closes stock sale to vr acquisition
1985 net includes charge 504571 dlrs from cumulative effect of accounting change
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
cabot corp said it called for redemption its outstanding 12 1 4 pct notes due november 1 1994 and 10 3 4 pct notes due september 1 1995 aggregating 89 mln dlrs at face amount
slight drop in philippine treasury bill rates
australias seasonally adjusted unemployment rate eased to 82 pct of the estimated workforce in february from 83 pct in january compared with 79 pct a year earlier the statistics bureau said
forecasts for lemons will be issued in october november january april and july and for grapefruit in october january april and july and for tangerines in october january and april
but barrett said the black sholes variant citicorp used pointed to a higher volatily for the morgan issue and emphasized that the models were at best an inexact science
asked whether the government felt badly treated with its 7 8 pct spread when mexico and argentina have won a 13 16 pct margin marcano said he still felt venezuela had a good deal
qtly div ten cts vs ten cts pay april 15 record april 1
a major palm oil dealer said he shipped malaysian palm oil to indonesia in february additional vessels were loading this month and other vessels had been earmarked for april
however total gross exports for the year declined by 56 pct to 359 billion ringgit from 38 billion in 1985 due to a fall in major commodity exports and weak prices he said
the forecast for private consumption growth remains unchanged at three pct although public consumption is revised upwards to 25 pct from 20 pct
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
it said it expected west germany to post a 31 billion dlr payments surplus and japan a 76 billion dlr surplus this year
perelman never does anything without a fair amount of calculation he said
todays quiet market continued a lull of several days in which traders were said to be waiting on the sidelines ahead of further clues to the direction of oil prices and the saudi economy
bank of tokyo curacao issues canadian dollar bond
share market analysts said speculators were buying the stock on belief that harcourt would bid for reed in an effort to escape the unwelcome two billion dlr bid from robert maxwells british printing and communication corp bpcll such a move would have made harcourt too big for bpcc to take it over analysts added
japanese traders have apparently sharply reduced commitments to buy chinese corn over the next six months due to high prices the us agriculture department said
periods ended april 30 shr 18 cts vs 15 cts net 3309000 vs 2539000 revs 452 mln vs 268 mln avg shrs 187 mln vs 168 mln note 1986 net includes gain of 1197000 dlrs or seven cts a share from tax loss carryforwards
a spokesman for the rio de janeiro port said the order to send marines to take over the ports was given by navy minister henrique saboya on grounds that ports are areas of national security
the scheme replaces current rules which allow different amounts of foreign exchange to be used only when firms attain a minimum annual turnover prescribed for each product
the bill would give a blanket waiver of any federal banking regulations that bar such actions
but on jan 28 1987 westinghouse withdrew from the deal because the fcc would not approve it
united asset management corp uam ups payout
prices edged up on firmer origin offering levels and the stronger dollar
but passenger load factor was down to 691 pct from 710 pct
but debate on the budget has been delayed by an opposition boycott of parliamentary business over the proposed imposition of a five pct sales tax and the government has only a slim chance of producing a meaningful economic package in the near future the dealers said
the loan reference rate is based on longer term trends
long island lighting co said it revised its preliminary 1986 net income to include a 16 mln dlrs after tax provision for its investment in the jamesport nuclear units
the plan also would allow the agriculture secretary to increase the unpaid acreage reduction requirement for corn by an appropriate amount to generate savings if projected corn stocks exceeded 60 billion bushels
saudi arabia reiterates commitment to opec pact
zambian politicians have frequently criticised the fund however and diplomats say president kenneth kaunda faces consistent opposition inside the ruling partys central committee over dealings with the imf
1st qtr shr 130 dlrs vs 165 dlrs net 785 mln vs 102 billion gross income 1068 billion vs 1013 billion avg shrs 6046 mln vs 6156 mln note pretax net 134 billion vs 183 billion
intel overseas corp a unit of intel corp is raising 110 mln dlrs through an offering of notes due 1997 yielding 818 pct said lead manager shearson lehman brothers inc
cityfed financial corp ctyfo 3rd qtr loss
uk money market given 129 mln stg assistance
completion of the proposed transaction is subject to hurons ability to hire an experienced work force at competitive rates and receive government approval of the purchase and operation of the plant swift said
money rates international summary apr 3 us fed funds 5 15 16 broker loan 750 725 30 60 90 t bills 540 38 540 38 544 43 cds dir 595 600 600 comm paper dir 615 615 609 international call 1 month 3 month ldn 10 9 7 8 10 9 15 16 10 9 7 8fft 360 70 380 90 385 95 par unav unav unav zur 7 8 1 1 8 3 1 8 1 4 3 1 2 5 8 ams 5 5 16 7 16 5 3 8 1 2 5 3 8 1 2 tok 37500 8125 38750 9375 40000 0625
the request will be made when export certificates have been granted for all the 500000 tonnes the agpm said
he wants it to be crowned with the glory of an interest rate cut said ian harwood economist at warburg securities the equities arm of mercury international group
borden inc bn to redeem 8 1 2 pct debentures
but the inclusion of currencies as one of the objectives has bonn and london worried monetary sources say because it implies washington is moving in the direction of target zones
september exports were 2694 billion dlrs slightly down from 276 billion dlrs in august
the firms boston based fmr corp and fidelity international ltd a bermuda based investment advisory firm said they bought the stake to acquire an equity interest in the company in pursuit of specified investment objectives the firms said they may increase or decrease their stake in the company but have no plans to seek control of the company or representation on its board
kdi kdi to buy triangle microwave trmw 
producers claim the rebate was short of the level needed to obtain a price equivalent to the intervention price by over one ecu per 100 kilos and was 087 ecu short the previous week the sources said
first bank system fbs sells lewiston bank
emery said its offer is scheduled to expire at 2400 est on april 28 unless extended
it said the sale is consistent with its previously announced retail division restructuring plans
britain also warned that the tax could hit developing countries already receiving aid from the ec they said
we chose a platform used by the iranians to interfere with and be a source of potential attack on convoys weinberger said at a pentagon briefing
but at this moment it is tough to say what will transpire
shr 61 cts vs 18 cts net 670000 vs 194000 revs 107 mln vs 104 mln six months shr 73 cts vs 35 cts net 798000 vs 377000 revs 195 mln vs 198 mln note1987 net includes gain of 362000 dlrs in 2nd qtr and 431000 dlrs in six months from tax loss carryforward
tensions have risen following britains decision to arm itself early with new statutory powers which it says could be used against certain japanese financial institutions
shr nil vs loss six cts net loss 6319 vs loss 265651 revs 1117778 vs 1090001 avg shrs 6874383 vs 4323614 year shr nil vs loss 10 cts net profit 4323 vs loss 432458 revs 4711350 vs 4256708 avg shrs 6837871 vs 4322816
in response to more specific market rumors that it had taken action on its exposure to brazil citicorp said it made an 8 k filing on the subject with the securities and exchange commission on tuesday in relation to a registration statement for a preferred stock issue
house trade lawmakers took their first votes on measures designed to toughen us trade laws but held over until tomorrow the most difficult votes on controversial plans to protect american industries
eight banking officials arrested on embezzlement charges nine days ago have been released from jail on provisional liberty pending a hearing of charges in court judicial sources said
for its part washington warned iran again on tuesday that it was ready for any further hostile action
vanderbilt gold corp said shareholders at a special meeting approved its reincorporation in delaware an increase in authorized common to 25 mln shares from 12 mln shares and a non qualified stock option plan
elsinore els makes deposit for interest payment
all dividends are payable march 31 to shareholders of record march 25 the company said
otherwise they fear the gradual re establishment of normal market conditions for latin borrowers will be set back
remittances exceeding one mln dlrs earned through exports shipping insurance or bank lending will now need government approval along with remittances of more than 10000 dlrs from any other source
total soviet grain imports in 1986 87 at 280 mln tonnes include one mln tonnes of miscellaneous grains
banco di roma london branch has arranged a 200 mln dlr nominal euro commercial paper program swiss bank corporation international ltd said as sold dealer
earlier echlin reported first half fiscal 1987 ended feb 28 earnings of 232 mln dlrs or 48 cts a share up from 166 mln or 40 cts a share in the prior years first half
jewellery consumption is set to rise by 70000 ounces clark predicted in his speech the text of which was released in london today
the companys full name is advanced institutional management software inc
it said holders of 534819 shares have agreed to tender their shares under the offer and have granted service control an option to buy them at 37 dlrs each
earlier it reported first quarter profits of 574 mln dlrs or 95 cts a share up from 466 mln dlrs or 80 cts a share in the year ago period
mark hammer a private investor from melville ny and members of his family told the securities and exchange commission they have acquired a total of 375200 shares of exovir inc or 129 pct of the total outstanding
we hope the weak price will be overcome and predict the price will be better in the third and fourth quarters refiners he said appeared to have used up old stock deliberately to cause slack demand in the market and the price to fall
qtly div 10 cts vs 10 cts prior pay april 15 record march 30
gm to idle six car plants next week temporarily lay off 21600 workers
jawa held the post since his predecessor abdul hadi taher left in a major oil industry shake up last december
analysts said they expected the bank to recommend a bonus issue this year probably one for three or one for five
the company originally reported 1986 earnings of 7700000 dlrs
soil moisture is better in the north central and peace areas the wheat pool said
has raised its stake in telecom plus communications inc
prime gave no reason for the termination of the talks with national hmo
earlier this month talks in london to set new ico export quotas failed
the paper will be sold in denominations of 500000 dlrs and have maturities of seven to 364 days
taiwans reserves have resulted largely from its trade surplus which hit 156 billion dlrs in 1986 and 106 billion in 1985
so far this year only five exploratory wells have been drilled
spain revises economic targets for 1987
most analysts said they think a price in the low 50s would be appropriate
the gulf market overreacted to the soviet buying reports which indicate the ussr has booked over two and perhaps as much as 40 mln tonnes of us corn one midwest cash grain trader said
the federal reserve is expected to enter the us government securities market to add reserves today economists said
another possible cost to refiners is the upgrading of facilities to produce a third grade of unleaded gasoline which is beginning to be marketed by some companies
the company also said it granted noranda an option to purchase two mln galveston shares
the telex said the restriction on business with foreign brokers is in line with an earlier measure prohibiting foreign exchange houses from selling dollars or other foreign currencies to anyone living outside venezuela
qtly div 25 cts vs 22 cts prior payable april 15 record april 1
the european communitys ec executive commission defended attacks on major elements of its ambitious program to rid the ec of its controversial farm surpluses after strong attacks from northern states
even if marketing of the lighter cattle is not delayed grimes said beef supply likely will be reduced
the halt the first national strike by seamen in 25 years started on february 27 and union leaders said they would not return to work unless they received a 275 pct pay rise
it is also involved in broking notes obligations and other instruments sponsored by us federal agencies
the company said it would retain automatic toll assets worth about nine mln dlrs to dispose of over time
the company said its warrant dividend plan is designed to protect its shareholders against unsolicted coercive attempts to aquire control without making an adequate offer for all shares
he said the decision to withdraw was made about 11 days ago before the market was battered by a loss of confidence which resulted in sizeable losses in these securities
kroger co said it agreed to buy nine retail food stores from the dallas division of safeway stores inc which announced it was closing the 141 store division as part of a restructuring
the bank of england said it had provided the money market with 75 mln stg help in the morning session
third party turnover declined to 159 billion from 185 billion in 1985 while orders slipped to 155 billion marks from 169 billion it said in a preliminary statement
official wants arab fund to help lebanese pound
1986 net includes non cash loss of 1436000 dlrs or 22 cts shr vs yr ago loss of 1922000 dlrs or 39 cts shr from depreciation and amortization allowances on us cable tv operation
the notes issued in denominations of 50000 dlrs were part of a 10 year one billion us dlr multicurrency facility established last december it said in a statement
the suspension of ecuadors crude oil shipments after an earthquake cut an oil pipeline will last at least four months a senior energy ministry official said
tlx partners a group led by asher edelman does not see any problems with its 65 dlr per share bid for telex corp a shearson lehman official advising the group said
shr 27 cts vs 25 cts net 6416000 vs 5988000 revs 1122 mln vs 998 mln note 1985 includes extraordinary income of 647000 dlrs or three cts shr
s and p said danas management plans an aggressive stock repuchase which would result in a significantly more leveraged capital structure
the bundesbank sees no current reason to change monetary course vice president helmut schlesinger told in a telephone interview
treasurys mulford sees brazil lending progress
based on fridays closing price the company will swap 4750 dlrs worth of its stock for each uccel share which is nearly 33 times uccels 1987 estimated earnings of 145 dlrs a share
it was schmidt who as chancellor appointed poehl to his present job in 1980
shr 15 cts vs nine cts net 2002261 vs 1168638 revs 292 mln vs 293 mln nine mths shr 49 cts vs 36 cts net 6404536 vs 4623295 revs 922 mln vs 882 mln
wall street stocks pacific gas pcg 
duffour et igon shares will be suspended on april 6 and 7 and will resume trading on april 8
shr 81 cts vs 57 cts net 3660273 vs 2437914 rev 285 mln vs 231 mln six months shr 29 cts vs 12 cts net 1325755 vs 483559 rev 317 mln vs 264 mln
on the supply demand front the market continues to enjoy a degree of stability rarely seen in recent years it said
a key house panel voted to greatly ease government controls on exports as several house committees moved rapidly toward approval of major changes in trade laws they hope will help solve us trade woes
tomorrows surplus is attributable to government tax allocations to local governments and public entities
however olivetti had made no decision on any such investment and did not have at its disposal information to evaluate such a move
affandi agreed with a bank recommendation that farmers should be free to choose their own crops but he said the government would continue to maintain production targets for strategic commodities such as rice and sugar
revenue properties co ltd year loss
we are not in a position to make a payment at this stage gros said
the company said its merger last year with associated dry goods which was accounted for as a pooling of interests is going very well may said we are acting more like one company every day
the sources warned that maybe the price of a barrel of oil will fall below 18 perhaps 1780 dlrs this week or next if there is no control on supplies it said
the soviet union was the largest single importer with 133265 tonnes followed by saudi arabia with 53800 tonnes
the commission will propose to offer the sugar at a very nominal premium of 001 european currency unit ecu to the intervention price with detrimental consequences for producers returns czarnikow says
it said it is in talks with the lessors in an attempt to restructure lease obligations
this development was aided by cooperation between the bank and the savings banks in the west german state of north rhine westphalia where parent bank westlb is based
the may crush ended today just over 17 cents so no processors will want to lock in a ratio at that unprofitable level the trader said
merrill lynch mer suspends uk merger chief
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
american west bank first qtr net
natwest rabo unit reports 88 pct profit growth
official reports show yugoslavia ended 1986 with hard currency debt of 197 billion dlrs
five new directors were also elected to the companys board
suntrust banks sti raises prime to 7 3 4 pct
he noted there had been a turnaround in a recent fall in foreign exchange reserves three days ago
video display vide to sell cable tv unit
he said the ibc has already settled with the sao paulo mercantile exchange how the auction system will operate
the current requirement is expressed in business days
to alleviate that we will hold our capital expenditures down and pay down debt so that at the end of two years that ratio will be reduced to mid 40 pct range hemminghhaus said that cash flow will be plus or minus about 100 mln dlrs a year from earnings and depreciation in terms of major projects hemminghaus said that capital expenditures will be 35 mln dlrs to 50 mln dlrs spread over all of the companys projects
the only traditional way forward was to capitalise interest which would mean greater bank exposure in bolivia and greater loss provisions he added
production in 1985 86 is projected at 9999 mln tonnes vs 10000 mln tonnes last month
jp morgan and co inc said it is raising its prime lending rate to 7 3 4 pct from 7 1 2 pct effective today
operating profit 149 mln stg vs 756 mln
natural gas stands a good chance to recapture the share of oil supplied to electric utilities that it lost to the residual fuel industry last year michael smolinski an energy economist with data resources inc told 
the firms would have to buy the bonds between april and december 1987
kodak ek buys stake in enzon enzn 
baldwin piano and organ co said it filed a registration statement covering a proposed public offering of 630000 common shares
the products should be available in canada in three to four months the company added
national banc of commerce co nbcco 3rd qtr
it said its proposals would permit limited access to news materials from affiliates and subscription services and allow cable news network to join network pool facilities
obsolete refineries poor transport and badly maintained plantations were barriers to any short term recovery in output he added
qtly div three cts vs three cts prior pay april 30 record april 16
radical concessions such as debt writedowns and schemes to tie payments to real income must all be considered the sela document stresses
for the year ended june 28 flowers earned 295 mln dlrs
in remarks before the imfs policy making interim committee baker reiterated a group of seven statement last night that the substantial exchange rate changes since the plaza agreement 18 months ago have now brought currencies within ranges broadly consistent with economic fundamentals baker said these exchange rate shifts have generally been orderly and have improved prospects for the reduction of external imbalances to more sustainable levels as they are today the trade and current account imbalances simply are not sustainable baker told the ministers
dune resources ltd said its oil reserves increased 225 pct during 1986 while its natural gas reserves were up six pct
operating profit includes commercial activities 108 billion vs 988 mln financial services 263 mln vs 135 mln share of associated companies 139 mln vs 163 mln investment income 150 mln vs 166 mln interest paid 238 mln vs 286 mln minorities 76 mln vs 63 mln extraordinary credit 75 mln vs 34 mln debit transfer to revaluation reserve 85 mln vs 106 mln profit attributable 793 mln vs 673 mln required inflation retention 77 mln vs 147 mln trading profit 151 billion vs 129 billion trading profit includes tobacco 764 mln vs 738 mln retailing 211 mln vs 186 mln paper 217 mln vs 168 mln financial services 282 mln vs 135 mln
as far as it knows the ingredient has not been tested in a spermicide
caesars world inc said board rejects martin sosnoff tender
bra kanon held private bilateral consultations with major producers and consumers this morning to resolve outstanding differences mostly on the issues of how much non member cocoa the buffer stock can purchase and price differentials for different varieties
but the itc quarterly session scheduled for april 8 9 will be important as the council will by then be wanting to decide on whether the current pact should be extended beyond june 30 or just allowed to expire delegates said
he gave no figure for expected output except to say it would probably be down a little from 1985 86
the announcement today brought them back down to 214p from last nights close at 241p
citibank ltd said it would lower its australian prime rate to 16 pct from 165 effective tomorrow
the loan for the suzhou aster hotel will mature in 10 years and is guaranteed by the provincial investment arm jiangsu international trust and investment corp the terms were not revealed
company sold all its operations at the end of 1986
trying to artificially depress the dollar severely below current levels would exacerbate financial market conditions and lead to further potential for financial problems nowhere johnson said are fed officials hearing that us businesses cannot compete at current exchange rates
swedish mining and metals group boliden ab blds st forecast a return to profitability during 1987 after recording a 108 billion crown 1986 loss burdened by a massive write off
nissan motor issues 35 billion yen eurobond
dome petroleum ltds proposal to restructure debt of more than 610 billion canadian dlrs includes provisions that may force the company to sell its 42 pct stake in encor energy corp inc dome said in a us securities and exchange commission filing
us trade representative clayton yeutter said he expects imports to fall soon but he was concerned about the lack of improvement in us exports given the dollars decline in the last 18 months
at the shareholders meeting the bank also reported 1986 first national bank earnings of 2008000 dlrs or 222 dlrs a share up 11 pct from 1985s earnings of 1811000 dlrs or 200 dlrs a share
their merger would not alter americans third place ranking according to data compiled by aviation daily a leading industry trade magazine
imperials 1986 petroleum earnings rose to 174 mln dlrs from 102 mln dlrs in 1985
the department said major buyers included china japan the philippines south korea singapore and taiwan
the frankfurt meeting on monday soothed currency markets and the dollar gained over two pfennigs in after hours trading in new york
however mining could only begin after foreign partners invest eight mln dlrs needed for technical equipment the spokesman said
the bonds will be sold in denominations of 1000 dlrs with one warrant attached which will be exercisable between april 15 1987 and april 3 1992
burma which diplomats here say now has foreign debts of up to 34 billion dlrs has applied to the united nations to be reclassified as one of the worlds least developed countries in order to qualify for softer loan and grant aid
orders in hand for the five months were 167 pct higher at 864 billion marks
some producers are in no hurry to see quotas restored despite the price collapse seen since the failure of last months negotiations they said
investors to raise cyclops cyl tender price
this brings the total help so far today to 517 mln stg and compares with the banks revised estimate of an 800 mln stg shortfall
tender loving tlci staff staf extend pact
amax amx in gold silver find
argentine wheat exports to brazil will increase from 1375000 tonnes in 1987 to 20 mln tonnes in 1991 the accord said
the rating agency said it would study bp s strategy to restore financial flexibility after the acquisition
senior market sources noted that in any case when issued trading would be supervised by the stock exchange and would be subject to bank of england supervisory guidelines
that means the buffer stock manager is likely to begin buying cocoa within two or three weeks after organizing communication systems and assessing the market they said
but it said continued disagreement with the sec staff would not be in its best interest
rates stood at 121 pct at the start of the year and have been increased to drain liquidity on rising demand for funds
total world zinc production excluding eastern bloc countries fell to 390800 tonnes in february from 419900 revised from 419600 in january
earnings per shr are restated to reflect 3 for 2 stock split effective july one 1986
south african firm to continue tests
a spokesman said vws supervisory board will meet tomorrow to discuss the payout
shr 26 cts vs 18 cts net 2102000 vs 1415000 revs 441 mln vs 422 mln year shr 21 cts vs 91 cts net 1678000 vs 7105000 revs 1551 mln vs 1492 mln note current year figures include 101 mln dlr writedown of costs and investments associated with ethanol refinery project
unadjusted female unemployment rose 100000 to 790000
iceland to privatise state bank utvegsbanki
repeal of the fuel use act a federal law prohibiting the use of natural gas in new manufacturing plants and utilities could increase demand for gas by as much as 15 pct he said
the request was also due to the end of the seamens strike and the willingness of the oil industry workers to sit again by the negotiating table the statement said
don nickles an oklahoma republican said in a letter to fellow senators seeking support for his legislation to limit these loans
increased its 1986 pre tax profit by 39 pct from the previous year to 1301 mln stg on a 43 pct rise in revenues to 6209 mln stg
provision for loan losses in the quarter was 353 mln dlrs vs 441 mln dlrs the prior first quarter
more
american brands said the notes are not to be sold in the us or to a us citizen
this currency alignment between japan and the ec is reflecting the excellent performance of the ec countries
the newly acquired company will operate as part of standexs perkins division the company said
shr 13 cts vs 50 cts net 651397 vs 2602120 revs 264 mln vs 216 mln note 1986 net includes gain 291027 dlr gain from quantity discount rebates on purchases of materials in prior years
the record date for southmark shareholders to receive these rights will be may one with an ex dividend date of april 27
one indication of potential price pressure might be a further tendency for the dollar to weaken
japanese firms see overseas acquisitions as a way to avoid the gloomy growth outlook and put their excess cash to work
the condition that was modified which required cyacq to be satisfied that break up fees or other obligations to dixons were rescinded or ineffective now says cyclops shall not have paid any such fees or expenses to dixons prior to the consummation of cyacqs offer
the banks for their part insist that they are more than willing to discuss mulfords menu and say it is the debtors that need to be more flexible
progressive savings has ten branches in southern california and about 500 mln dlrs in assets
the us treasury would be required to ask other countries for their views under a bill approved by a house banking subcommittee and sponsored by john lafalce a new york house democrat
dixons exploring sale of cyclops cyl unit
last week spethmann told the annual meeting thyssen expected to post a good profit in 1986 87 despite expected losses in the mass steel making operations this year
the trust is managed by alex
in addition she said many of those nations are faced with serious debt and need to sell coffee to raise capital
bank of finland issues cds for first time
currency dealers here and in the far east said the dollar gained slight background support from the speculation
corrected bankers trust new york bt payout
under the deal pdvsa will supply up to 140000 barrels a day to the refinery with the option to place 50000 bpd more mostly gasoline and distillates through champlins distribution system in 10 us states
washingtons deficit with taipei rose to a record 136 billion us dlrs last year from 102 billion in 1985
small grains made good progress despite cool temperatures which slowed growth
a statement by williams said it was confident of the merits of the proposed merger and it had therefore taken care to propose from the outset the right terms including a full cash alternative
a major misunderstanding is that the private report was government policy
sime darby bhd six months to december 31
but reforms including upgrading the quality of goods and allowing joint ventures with foreign firms will encourage modest export gains in future
specifically the agency said those making tender offers for companies stock must extend the offers if they decide to eliminate conditions requiring a minimum number of shares to be tendered in order for the offers to be valid
pancanadian to sell british interests
in addition it sold one billion francs worth of floating rate 1999 tap stock at a top accepted price of 9690 pct on total demand of five billion francs
dealers said spreads would widen and the dollar would move more sharply if the bundesbank did intervene
food and drink retailer argyll group plc aylll said it has agreed to sell its uk subsidiary george morton ltd to seagram united kingdom ltd for about 14 mln stg in cash
that last minute change of heart adds a measure of uncertainty even to the predictions of those most convinced that the administration will not now pass up the opportunity to sell four mln tonnes of wheat to the soviet union
but proceeds from asset sales would probably pay down debt the agency noted
only 33 rigs about one quarter of the total available were drilling for oil onshore in california last week compared to about 70 last year said bill bolster of munger oil information services which tracks california drilling activity
he said a whole set of new ideas had been developed and he was convinced the international banking system would provide more funds but the problem is not just economic but also political
the company said 90 pct of millens cards have been sold in the northeast and mid atlantic states but bean expects to increase sales to 2500000 dlrs this year by distributing the line nationally
the non callable issue is of direct unsecured unsubordinated debt
hutton said the acquiring company pc acquisition inc is paying 35 dlrs cash per share for 83 pct of purolators stock in a tender offer to begin thursday
citing the filing citicorp said that brazils recent suspension of interest payments on 68 billion dlrs of commercial bank debt and related actions may require citicorp to place 39 billion dlrs of intermediate and long term brazilian loans on a cash basis when loans are placed on a cash basis interest or principal payments are only booked when received instead of being accrued on their due dates analysts noted
butterwick told reporters that despite the drop and low freight rates the shipping conference he heads will increase the frequency of sailings to south africa as a very strong act of faith and confidence in the countrys future
balletto told a conference of canadian farmers at alberta agricultures annual farm outlook conference that the world vegetable oil situation is one of potentially tight supplies
first of america fabk michigan bank affiliate
baldrige warns of world trade war danger
pay n pak stores inc pnp 4th qtr feb 28 net
shr loss 40 cts vs loss 130 dlrs net loss 3619000 vs loss 113 mln revs 241 mln vs 341 mln year shr loss 436 dlrs vs loss 209 dlrs net loss 387 mln vs loss 168 mln revs 1046 mln vs 1339 mln
piedmont management co inc pman 4th qtr
svenska finans gets 100 mln dlr euro cp program
delta says court order will not delay merger
mostly dry weather in early rice areas of guanxi and guandong resulted in irrigation for continued rice planting it said
the new price for unalloyed ingot will be 645 cents a lb while the new price for extrusion billet will be 725 cents a lb
for flexibility the bank would post yields daily to dealers on an absolute rate basis providing a range of short term maturities
the department said the sales will be subsidized with commodities from the commodity credit corporation ccc inventory and the subsidy will enable us exports to compete at commercial prices in the algerian market
the government really stood up for the semiconductor industry said johnson of lf rothschild
manila government to take over san miguel board
unilever nv share 1069 guilders vs 1182 guilders making 3822 guilders vs 3679 guilders
this years version called the foreign agricultural investment reform fair act would require the us to vote against loans designed to increase production of surplus commodities and minerals
jorio dauster president of the brazilian coffee institute said his government is committed to working towards an producers accord in order to bring about higher prices
only nine pct expect output to fall while 47 pct said production would likely remain unchanged
makumbi said when he returned from london on friday
stocks should gain on strong foreign demand and a modest second half economic rise
in the same year ago period the company reported net income of 366953 dlrs or 18 cts a share
transworld liquidating twt to distribute
the acquisition has been made possible by the efforts of its major shareholder pratt and co financial services pty ltd battery group said in a statement
the company said it continues to take actions to make it more competitive including cost and expense reduction measures
as it introduces the third unleaded grade exxon noted it no longer offers a leaded gasoline in the market except in some rural areas where leaded gaosline will be made available to distributors who have a substantial need for the product to serve customers whose equipment was designed for leaded fuel
paradyne corp said it pleaded guilty to criminal charges of conspiracy to defraud the social security administration and agreed to pay 12 mln dlrs in fines and costs to the us government
woodside said the rise in revenue largely reflected full year sales of gas and condensate from the domestic phase of the shelf project against six month sales in 1985
the yield on the bills for sales to banks and securities houses from money houses will be 39495 pct against the 39375 pct discount rate for one month commercial bills and the 458 42 pct yield on one month certificates of deposit today
terms of the agreement were not disclosed
the most sophisticated ones wouldnt buy these because the premiums are too high he said
trust america trus sets credit line
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april one record march 20
grand metropolitan plc unit to sell business
if we did not change the dynamics of repaying our debt the situation would become increasingly worse mikulic said
fao approves emergency food aid for ethiopia
hecla minging co said it has agreed to purchase a 28 pct interest in the greens creek joint venture from british petroleum co plcs bp amselco minerals inc unit
national security nsico stake acquired
in the light of the precipitous falls on uk equity markets in the past few days there will almost certainly be a straightforward impact on consumer spending and on retail sales temperton said
france is to provide togo with 475 mln cfa francs of aid for a range of projects that include development of the coffee and cocoa industries and reafforestation in the south of the country official sources said
the coupon on the 300 mln dlr equity warrant bond deal for mitsubishi estate co ltd has been cut to three pct from the 3 1 4 pct initially indicated nikko securities co europe ltd said as lead manager of the deal
it says each notes prospectus must contain the following seven points the precise terms of the issue details of the company performance if it is more than six months since the last annual report naming of all guarantors the source of the information details of ratings insofar as they have been made for equity linked notes details of where the companys shares are listed and price high and lows over at least the last three years
marris does not expect the crisis to peak until later this year but he warned that the situation is so fragile that it would take very little to touch off what he calls the second phase of the hard landing whereby a loss of confidence in the dollar pushes up interest rates and leads to a recession
the coincident indicator designed to signal current turning points in the economy was put at 912 in january down from 919 in december and 916 in january 1986
the east asiatic company ltd a s is raising 150 mln marks through a 5 1 2 pct bullet eurobond priced at 100 1 4 lead manager commerzbank ag said
this option may prove to be the most politically unattractive and would result in many producers abandoning wheat production the report said
note div pay aug 6
sales of todays issue were slowed by the decline in american credit markets and rising oil prices which stirred concerns about inflation the traders said
he said bank deregulation had given managers more freedom to run their banks and that an increase in failures was to be expected
keycorp key registers subordinated notes
the notes are to be sold in three equal sized issues of 50 mln dlrs
the 25 billion rupee issue consisted of 10 year maturity bonds of 1000 rupees each earning 10 pct tax free interest
theyve burnt the fingers of many people he said
they are particularly dismayed by the rapid deterioration in us exports of sophisticated computer technology
cut were the parents senior debt and industrial revenue bonds to a 3 from a 2
during the period only six located in the city achieved fortune 500 status
charter said its two creditors an equity committee in its bankruptcy proceedings and american financial corp which will own 505 pct of its common after the reorganization have waived the requirement that charter resolve all dioxin related claims against it prior to completing its reorganization
the closing of the sale is set for the second quarter of 1987 the company said
one banker said banks are agreeing reschedulings but often at a high price they are resigned to the fact that full recovery of loans is not always possible in a few cases private sector firms have been stripped of assets during or prior to debt renegotiations leaving banks virtually no hope of repayment in full
pennwalt psm to make acquisition
energy futures now set the standard for oil pricing said arnold safer president of the energy futures group inc a consulting firm
smoke was seen spiralling up from the rostam field soon after
moodys investors service inc rates the debt aa 2 and standard and poors corp rates it aa
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 650 mln stg while a rise in note circulation will take out around 30 mln stg
the interest rate will always be 05 points above that charged to commercial banks by the national bank of hungary for loans exceeding one year
a high ranking advisory body headed by former bank of japan governor haruo maekawa is expected to come up with a final report outlining concrete steps to redirect the economy days before nakasone is scheduled to leave for washington
midlantic corp midl 1st qtr net
in addition columbia said it will call for the optional sinking fund redemption on may 1 1987 the 47 mln dlrs principal amount of the 9 1 8 debentures and 75 mln dlrs of the 10 1 4 pct debentures
the question is how far and how fast yeutter said
miyazawa hopes the agreement will hold the yen stable for a few months before it weakens later in the year
inco sees no major impact from dow removal
indonesia the worlds second largest producer of palm oil has not issued licences to import the commodity a spokesman for the ministry of trade said
madagascars available coffee output is estimated at 80725 tonnes this year down from 82210 in 1986 due to a rundown of government agricultural services and the poor state of feeder roads in rural areas agriculture ministry sources said
rainfall in the key farming provinces of henan and sichuan was 70 pct below average during february the lowest figure for over 20 years the paper said
shr 34 cts vs 32 cts net 2891844 vs 2666278 revs 137 mln vs 127 mln
leucadia national corp said two of its subsidiaries have acquired a 72 pct stake in minstar inc a corporation controlled by corporate raider irwin jacobs and used by him in his forays to acquire stock in companies
for example the usda study found the united states subsidies to corn producers were higher in 1982 84 at 25 to 49 pct than in the ec at zero to nine pct
dixons said the stock was purchased in a single block transaction at 95 dlrs per share
the fed is keeping policy at dead center and it is not about to change policy unless something fairly dramatic occurs on the economy said john williams of bankers trust co
shr six cts net 155764 revs 6506792 note company formed in august 1986
driver harris co drh 4th qtr net
in addition the measure would require usda to make full payment to farmers eligible for emergency assistance approved by congress last fall
trading in the beneficial interests which are listed on the new york stock exchange will cease after today
the journal reported that among the bidders for first city was robert carney and robert abboud a former chicago banker
the legislation was prompted by a growing us trade deficit that hit 156 billion dlrs last year and is still rising
turkeys trade deficit in december narrowed to 216 mln dlrs from 340 mln in november and compared with 277 mln in december 1985
the rio dockers did not get support from their colleagues in santos brazils main port but the spokesman said they would not return to work unless their demands were met
the following are proposed securities offerings filed recently with the securities and exchange commission outboard marine corp up to 200 mln dlrs of debt securities on terms to be set at the time of sale through an underwriting group that is expected to include salomon brothers inc and morgan stanley and co inc
it said it is shifting its focus away from the development of communities requiring significant equity and having lengthy projected life cycles
to resume limited output in the meantime ecuador is constructing a 26 mile pipeline linkup capable of carrying 55000 bpd from lago agrio to puerto colon the starting point of colombias pipeline to the pacific port of tumaco
if irving wouldnt go with the offer at 80 dlrs a share then they wont go at a lower price another analyst said
1987 results include operations of burgdorff realtors acquired in december 1986 cornerstone mortgage co acquired in july 1987 centerbank mortgage co acquired in july 1987 and center capital corp formed in august 1987
this weekend he said that those profit estimates remain about the same perhaps even a little more optimistic some of this optimism is due to the early success of the ax launched on the french market last october
lincoln savings lnsb sets first payout
spectrum control inc spec sets quarterly
the sources said the world bank wanted respected private sector individuals to be appointed to the apt and immunity from prosecution for the trust
the central bank purchased bank bills outright at the new dealing rates established yesterday
ministry officials declined to say when they would give formal approval but said they were working on the issue
panic said today he would not discuss the drug with regard to aids until the food and drug administration completes its review of data submitted by the company
component b to be unsecured will be for a maximum of 200 mln dlrs with a maximum spread of libor plus 5 8 pct for the first three years libor plus 3 4 pct for the fourth to sixth years and libor plus 7 8 pct for the seventh year
the central issuing office of the swiss cantonal banks said it is launching a 150 mln swiss franc 4 1 2 pct 12 year bond issue at 9975 pct
disinflation was an absolute priority neeser told journalists adding that a failure to do this would be extremely serious as if would be very difficult to reverse for many years
redstone said he was weary after talks dragged on through the night but also excited at the prospect of running a leading electronic media company
gould inc said it has completed the sale of its systems and simulations division to the units management for an undisclosed price
these include an expected pledge of 550 mln dlrs from from 12 industrialised countries and about 240 mln dlrs in loans from the world bank and the asian development bank
the issue is guaranteed by the kyowa bank ltd
mco resources inc said its independent auditors have qualified their opinion on the company financial statements for 1986 in which it posted a net loss of 386 mln dlrs or 137 dlrs a share on revenues of 314 mln
rice milled basis 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 2471 2475 2216 2216 production 31790 31890 32012 32005 imports 1056 1063 1168 1170 dom
for finance ministers and central bankers attending this weeks semi annual meetings of the international monetary fund and world bank the new figures released by the imf add an additional concern
he said hollinger was currently talking to about 10 such newspapers in the us where the company currently owns 23 dailies
analysts said they were surprised at the governments announcement of a forecast budget surplus for fiscal 1988 but said it was consistent with previous policy statements and positive for the economy
the surveillance body will send a record of todays talks to the trade negotiating committee which oversees the round to decide any further action on the charges
lawsons remarks came as renewed selling on the london stock market took bp shares down a further 33p to 283 well below the 330p price set for the around seven billion stg issue
the severe winter is believed to have resulted in above average winter kill usda said
two new eurosterling bonds were launched today making a total of 10 new deals in the sector so far this month as borrowers rush to cash in on a bull sterling market fueled by the strength of the pound and pre budget euphoria
el salvador seeking pl 480 soymeal corn
but given switzerlands large external surplus there should be no concern if domestic demand grows faster than gdp which if only in a small way would contribute to improving international balances the oecd said
he said the impact of that boost will start to be felt in the early part of the companys second quarter and continue throughout the year
trading in perpetual floating rate notes about 17 billion dlrs of which are outstanding has come to a virtual halt as prices plunged
the company also said sales on the west coast were hurt by late snows and poor skiing conditions
however because of a pledge the made last year to georgias public service commission the increased cost will not be included in the utilitys retail electric rates
gould gld division gets financing
minneapolis investor irwin jacobs said he sold the stake he held in gillette co gs after deciding that he could not force gillette to accept a 47 dlr a share takeover bid made by revlon group inc rev revlons bid expired last week after being repeatedly rejected by gillette
enro holding buys enro shirt and foxcroft
north american profits were affected by the fall of the value of the dollar
south korean money supply rises in february
year on year growth was thus about two pct
but rates were expected to rise toward the end of the week
newhall investment nip sets special payout
he said people mentioned many things in line with the spirit of the report including restructuring of the coal and steel industries
pechiney signs letters of intent with soviet union
conrac has about 675 mln shares outstanding
cts cts and dynamics dya reach accord
qtr ends april 30 shr 32 cts vs 20 cts net 1981681 dlrs vs 1022451 dlrs avg shrs 6220000 vs 5120000 12 mths shr 122 dlrs vs 59 cts net 7005000 dlrs vs 3030000 dlrs avg shrs 5737808 vs 5120000 note full name of company is commonwealth mortgage co inc
but it is the underlying peaks and troughs of the major currency movements which lay bare the real picture in which the plaza pact appears as an event of prime importance but not necessarily central significance the officials said
talking point burlington industries bur 
the question is whether through cooperative actions between our governments we can reduce the trade imbalance or whether congress takes action to reduce it through protectionist legislation he said
he said he was hopeful congress could pass a bill this year
allis chalmers said its only alternative to the plan is bankruptcy
the january february employment statistics suggest the gross national product will show a healthy rate of growth for the first three months of this year said lyle gramley an economist with the mortgage bankers association
the bank report said indonesias rice production had peaked and the subsidies are a waste of money
polish officials are unable to provide a precise breakdown of the figure saying it takes into account a number of hypothetical losses
certificates are also an important part of any export promotion program he said
coastal has been trying to break into the texas gas market since 1979 when it was forced to sell lo vaca gas gathering co to settle over 16 billion dlrs in lawsuits by texas customers facing abrupt curtailment of supply
navistar international corp chairman donald lennox repeated that benefits from recapitalization are likely to boost future earnings for fiscal 1987
the company said the reverse split will reduce the its outstanding shares to about six mln from 60 mln
banks which declined the offer would be repaid over 20 to 30 years at interest rates below those fixed in the international markets he added
usx which owns marathon oil co and texas oil and gas corp had 60 pct of its 1986 sales of 1494 billion dlrs from its oil and gas operations
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
nor did there seem to be any enthusiasm at last weeks semi annual meetings of the imf and the world bank for higher us interest rates as the best way to curb the dollars rapid descent
the marketing year for began september 1
copenhagen telephone co ltd is issuing a 600 mln french franc 15 year retractable adjustable bond lead manager credit commercial de france ccf said
the vote was 1229 or 545 pct against and 1028 or 455 pct for the contract
he held brief talks on sunday with brazilian president jose sarney during a stopover in brasilia
louisiana weekly crop report
1986 qtr includes charge 187 mln dlrs for write down of oilfield services equipment and offshore drilling rigs
some market sources speculated an outside buyer such as general partners might even be be a catalyst to resolution of the challenges since it would carry out gencorps plan to sell the stations
the paper said chinas crude steel output totalled 52 mln tonnes in calendar 1986 and that it plans to increase to 80 mln by 1996
uk minister looks to ease tension with japan
it said the previous high for a single quarter was 27179000 dlrs for the 1986 fourth quarter
s p downgrades canadas province of saskatchewan
victoria state bank issues 50 mln aus dlr eurobond
dexleigh corp six mths dec 31 net
carolco pictures crc orbis in agreement
aqazadeh said the two sides agreed to conduct feasibility studies for a pipeline to take iranian crude from fields in southern iran to the black sea through the soviet union
commerce dept
it follows the announcement yesterday of a 1 4 point rise to 7 3 4 pct of two of the largest us banks prime rates
toronto dominion australia dollar bond increased
the trucking company attributed the loss to the continued rate of discounted in its primary markets flat revenues and increased costs including uninsured claims expense resulting from adverse weather conditions during the last three months
the senior banker was strongly opposed to a purely regional approach saying there must be one committee and one solution but he added there must be an understanding that special requests from special regions be taken into account german banks had objected to the fact that the idea of interest capitalisation had been rejected in the committee
interstate securities inc is 4th qtr sept 30
the company said it filed a registration statement with the securities and exchange commission to sell 40 mln dlrs of convertible suborindated debentures due 2007
goodyear said it will report first quarter results april 27
a total of 2435 tonnes of british intervention feed wheat were sold at todays tender for the home market out of requests for 3435 tonnes the home grown cereals authority hgca said
hooper holmes sherlock inc hoop 4th qtr net
brazil temporarily legalises dlr parallel market
shares outstanding increased to 39 mln from 278 mln
merrill lynch in london said any further amplification on the sec charge against its executive nahum vaskevitch would have to come from the firmss new york office
the news corp said the south china morning post ltd of hong kong become a wholly owned subsidiary march 7 as previously announced
texaco filing adds uncertainty in oil market
qtly div 15 cts vs 12 cts in prior qtr payable june 25 record may 28
as of dec 31 1986 there were 26661770 shares of gnn common stock outstanding according to the company
venezuelan oil through the first half of 1987 has averaged 16
it said these reserves did not disappear but are available to produce as prices recover
revlon group inc said it bought germaine monteils cosmetics business in the us from the beecham group plc
the restrcitions stem from a 1983 order by the ftc settling charges that allieds 1981 acquisition of fisher scientific co reduced competition in three high purity acid markets
jack winter inc jwi 4th qtr jan 3 loss
the increase is in reaction to sun co raising postings similarly yesterday
after the offering reebok will have 561 mln shares shares outstanding
ivory coast today predicted that the present coffee price crash recorded after the collapse of the recent international coffee organisation ico meeting in london would not last long
he said south africa was the most likely source of additional supplies and will need to increase output by about 500000 ounces to meet increased demand
retail movement was 1741139 versus 1464490 a year ago
lerner owns clevebaco corp which is the general partner of clevebaco lp the lerner group said it filed with the federal reserve board on march 13 notice of its intent to buy more than 10 pct of the common stock of ameritrust a cleveland bank holding company
gros himself said pushing the problem away for 90 days at a time is not very useful
it is our expectation that economic development will allow brazil to meet its debt a spokesman said
in a letter from general partners to a
we have a job to do persuading them we can do better than our reputation seems to be he said
pressure will now build up on producers returning from the ico talks to sell coffee which had been held back in the hope the negotiations would establish quotas which would put a floor under prices some senior traders said
american federal savings and loan association of colorado said its board cut the quarterly dividend to 7 1 2 cts per share from 15 cts
shr 2250 dlrs vs 2174 dlrs assets 5469 mln vs 4852 mln shrs out 243 mln vs 223 mln note lastest assets after capital gain distributions of 28 cts a share in february 1987 and 255 dlrs a share in december 1986
the program will be aimed at end investor placement
standard and poors said the companys asset sales and subsequent use of the proceeds for debt reduction exceeded the corporate plan of a year ago
for every 100 dlrs invested in the program an investor will be entitled to buy one warrant to purchase one geodyne common share at a price equal to 120 pct of the average closing price of the stock for the 15 trading days prior to formation of the partnership to which the investor subscribes
wilson said his members are holding stopwork meetings this morning to consider further stoppages over their pay claim
to the fed the combination of a falling dollar a steepening yield curve and rising commodity prices look suspiciously like the traces of expectations of accelerating inflation said denis karnosky analyst at carroll mcentee and mcginley inc
canadian airlines which has 81 aircraft last week ordered six commuter planes from british aerospace and said it would soon buy as many as six wide bodied aircraft from airbus or the boeing co
hughes capital unit signs pact with bear stearns
apart from xiamen international bank and the international agricultural development bank planned by the world bank and the state owned agricultural bank of china xiamen has eight foreign bank branches or representative offices mostly of hong kong or overseas chinese banks
the additional count among other forms of relief requests an injunction against the defendants from taking any steps to accomplish the proposed sale alleghney said
benjamin who had served in the post since last november said he was stepping down because restoring upi would take a greater financial investment than he had envisaged and vasquez rana thus wished to take direct control
the committed portion carries a facility fee of five basis points and a margin of ten
iran said reports that it intended to threaten shipping in the gulf were baseless and warned the us and other countries not to interfere in the region
the said it ministry expects at least 65000 tonnes in exports next week
conger said he sees homestakes 1987 gold production about the same as 1986 gold production of 669594 ounces
however gilts may benefit from further declines in uk interest rates they said
but a spokeswoman pointed out that financial corp has said publicly for nearly two years that in the companys view a merger would be one method of increasing the companys capital
an officer with korth said he belives his firm underwrote the first such issue eight or nine months ago for citicorp cci gmacs mangan said his company issued through korth in october 1986 a 50 mln dlr issue that carried two different price levels
italian treasury details new bill offer
the 50 day provisional 1987 88 budget adopted today by the government allows the finance ministry to issue up to 14600 billion yen worth of foreign exchange fund financing bills government sources said
in addition avalon said three other directors resigned
heart federal hfed sets two for one split
inspectorate issues 200 mln mark equity eurobond
chemical chl net hurt by brazil expenses
terms were not disclosed
uk march producer prices rise 03 pct
shamrock capital is a limited partnership led by shamrock holdings inc the roy e
the bond pays interest at 50 basis points over the london interbank offered rate
the government currently holds some 5785 mln ordinary shares in the company
it then presented the paper to mexicos central bank and received the equivalent of 100 mln dlrs worth of pesos which it invested in its local subsidiary to produce cars for export to north america
shr 108 dlrs vs 37 cts net 3025000 vs 1188000 sales 352 mln vs 354 mln avg shrs 2794298 vs 3187051 nine mths shr 243 dlrs vs 83 cts net 6781000 vs 2576000 sales 1010 mln vs 997 mln avg shrs 2794298 vs 3115499
jewelmasters said net income for the year was hurt by disappointing sales in december and january a high level of advertising spending in the fourth quarter higher than expected opening expenses for 34 additional units and an adjustment to inventory associated with a shift to a more comprehensive inventory system
1985 net both periods excludes 168000 dlr loss from discontinued operations
the company said it also extended a 17 mln dlr secured loan to monmouth to finance completion of the renovation of another vessel the m v regent star which is scheduled to begin operating in late june
moodys investors service inc rates the bonds b 1 and standard and poors corp rates them b plus
the us case brought by the us national soybean processors association alleged argentina through differential export taxes implicitly subsidized domestic soybean crushers
company went public in september 1986
hong kong economic journal also noted stock market rumours that neptunia corp a hong kong registered company which controlled by san miguels president andres soriano is the other party keen on the block of san miguel shares
eligible corn and sorghum producers will receive another 1986 crop deficiency payment in october if the national average market prices received by farmers during the entire marketing year for both commodities are below the basic loan rates the department said
but it added that the southern bell decision has forced it to pursue opportunities with other telephone companies and municipalities to replace the southern bell work
colombia brazil and the central american coffee producing countries were invited to the meeting in managua to analyze the market situation however he did not dismiss the idea of dialogue and negotiation in preparation for meetings of the international coffee organization
one other small pipeline that total also closed has a capacity of 3000 to 4000 bpd and crosses the red river in fargo texas zollinger said
securities managers said they expect the auction to go well again this time as securities houses will try to expand their inventories of tankoku on continuing good response from institutional investors
speculation has been in the market for some time that the united states is considering offering wheat to the soviet union at subsidized prices
philippine debt talks proceed with narrower focus
herrington proposed the increased depletion allowance to the white house tuesday but the white house reaction was cool
assets totaled about 8440 mln dlrs as of december 31
french finance minister edouard balladur said the group of seven g 7 industrial countries should respect pledges on monetary policy made in the february louvre accord on currency stability
chase manhattan asia ltd of hong kong has approached taiwan banks to take part in a syndicated loan of 300 mln us dlrs to finance a liquefied natural gas lng project in indonesia local banking sources said
the maturities will be 1990 1992 and 1994
international coffee organization ico exporters will modify their new proposal on quota resumption before presenting it to importers tomorrow ico delegates said
shr profit two cts vs profit two cts net profit 216000 vs 265000 revs 17 mln vs 14 mln year shr profit four cts vs loss two cts net profit 528000 vs loss 290000 revs 59 mln vs 55 mln note1986 net includes realized investment gains of 3000 dlrs in year
export credits guarantee department has named malcolm stephens director of export finance at barclays bank plc and a former career civil servant at ecgd for 17 years to the post of executive director a department spokesman said
there are presently 800000 warrants outstanding
the conversion premium is indicated to be 20 to 23 pct
the european community ec is expected to award export licences at todays weekly tender for above 60000 and possibly up to 100000 tonnes of white sugar after last weeks award for 102350 tonnes traders here said
he added however first interstate at the moment has the advantages of having owned and managed regional banks longer and has the recognition advantage of having given its regional banks a common name
the british source said the decision not to specify the exact shareholdings of the core companies could leave the door open for further discussion
qtly div five cts vs five cts prior pay april 20 record april 13
analysts however believe heyman would sell off assets he did not want to repay debt from the transaction
baker has also opposed the legislation which will be wrapped into a major trade bill for consideration in the house in late april
belonging to ipma carries a certain amount of prestige with borrowers said a dealer at a small foreign bank
oper shr loss 160 dlrs vs loss 117 dlrs oper net loss 4261000 vs loss 2816000 revs 289 mln vs 117 mln avg shrs 2817616 vs 2685592 year oper shr profit 23 cts vs loss 110 dlrs oper net profit 863000 vs loss 2390000 revs 859 mln vs 604 mln avg shrs 2754258 vs 2541967 note excludes loss of 19 mln dlrs vs loss 35 mln dlrs in qtr and gain 46000 dlrs vs loss 39 mln dlrs in year from discontinued operations
the issue is targeted at europe with no japanese co managers
growth prospects in northern areas are generally in the good to very good range
bouygues in february said it estimated 1986 group net attributable profit at 480 mln francs up from 443 mln for 1985 on consolidated turnover of 458 billion francs up from 263 billion
china switches us wheat to 1987 88 from 86 87
exports in october could be relatively modest due to many public holidays but by the end of this year the surplus will be well over nine billion dollars close to ten yonhap said
pillsbury first sold limited partnership interests in burger king investors lp in february 1986
japan feb current account surplus 738 billion dlrs jan 495 billion surplus
first american bank and trust co said its 88 pct owned associated mortgage investors amims subsidiary has sold its new england operations for about 2100000 dlrs in cash and 1300000 dlrs in stock resulting in a first quarter gain for first american of about 1200000 dlrs after tax
in a communique issued after a four hour meeting at the us treasury that ended last night the ministers said the value of the dollar and other currencies was basically correct now and they welcomed new measures planned by the japanese to boost their economy
nestle said it decided to stop manufacturing cans in order to be in a better position to take full advantage of the changes underway or on the horizon in food packaging technology
instead of seeking to slash the domestic sugar program huckaby said the reagan administration should file a complaint with the general agreement on tariffs and trade against the european communitys sugar policy
one can never be too optimistic but im cautiously optimistic that we can get an agreement we think were close to a deal ongpin told by telephone
the hughes board objected to a us department of justice requirement that baker sell off several specialised subsidiaries in businesses related to oil drilling
us secretary of agriculture richard lyng said in a letter to ec officials that us retaliatory measures would cover more than agricultural products if the tax was imposed bennett said
but mcclure said senators told him there is no doubt dumping is going on based on evidence such as invoices of purchases of the japanese products
chinas foreign exchange reserves are more than 10 billion dlrs enough to cover import payments for three to four months vice premier tian jiyun said
piedmonts board was meeting today and wall street speculated the board was discussing opposing bids from norfolk southern corp and usair
canadian pacific said favorable developments during the year included reduced bulk shipping losses as a result of a recovery in tanker markets and a turnaround in the forest products sector
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
finance minister kiichi miyazawa said major nations are taking action to stabilise exchange rates in line with their agreement in paris last month government sources said
general hydrocarbons inc said claims aggregating over one mln dlrs related to liens and alleging title deficiencies have been made against the escrow fund holding its assets for distribution
the payment date is may 6
glenn grimes agronomist at the university of missouri said i would not look for belly storage during the next month or two to be heavier than a year ago i think it will be less
the sources said the bonds mature in eight months with 55 pct interest but no further details were available
as a result the current account surplus in 1987 will rise to 95 billion dlrs from 86 billion in 1986 although in 1988 it should fall back to 87 billion dlrs
the bank of america offering followed a january 16 issue of 200 mln dlrs of similar debt by republicbank corps rpt republicbank delaware unit
the successful negotiation of the new agreement represents a significant step forward in international economic cooperation he told a news conference
the senate agriculture committee voted to limit changes in county loan rate differentials starting with the 1988 crop as part of a budget deficit reduction package
in contrast to public issues though the prospectus must merely be made available to clients on request via all syndicate banks rather than published and distributed in printed form
months before the report was issued us and ec business leaders met their japanese colleagues to discuss the trade problem
worthy but boring would probably sum it up peter fellner uk economist at stockbrokers james capel and co said
the non callable bond is guaranteed by the crown in right of new south wales
pembroke capital co incs debt remains under review
she said deposits with the commercial banking system rose to just over 118 billion pesos at the end of december from 10789 billion at the end of 1985 and 9283 billion at the end of 1984
it includes a 10 year grace period but has annual charges of 05 pct on the undisbursed balance and 075 pct on the disbursed balance the bank statement said
he said the budget would be the first in a four year economic recovery plan to be announced by the end of december
the british treasury confirmed that the sale of british petroleum co plc will go ahead as planned despite mondays stock market crash which forced bp below the 330p a share set for the 72 billion stg issue
the risk of iranian attack on us warships or kuwaiti oil tankers carrying the us flag and under naval escort is rated by diplomats as low
rosenbaum said the united states will be flexible in discussing the method of establishing objective criteria and any transition to new quotas but not on the basic aim of establishing an objective method of setting quotas
heineken last month reported a 1986 net profit of 285 mln guilders after 265 mln in 1985
the margin requirement for a may or july position will be 1000 dlrs 750 dlrs original margin plus 250 dlrs spot fee
in sri lanka the drought has come when rainfall should be at its maximum for the year
the company said clancy has developed a fully automated parking citation system currently in use in oklahoma city the university of california at sacramento and in a pilot program in san francisco
the move is seen as an attempt to persuade the producers to take back the surrendered sugar
honeywell inc earlier today received 527 mln dlrs in cash for the sale of 575 pct of its computer business to bull and nec
more details would be given later by greek industry undersecretary george petsos who was in moscow
amr declined to go into detail on financing arrangements for its order of 15 boeing co ba and 25 airbus industrie twinjet long distance aircraft
in addition the agriculture department last week projected a substantial drop in soybean acreage this year
anz banking group cuts prime rate to 1600 pct
outstanding loans to venezuela currently total about 13 billion dlrs of which 241 mln dlrs of loans have been reported as either nonaccrual or past due 90 days or more it said
cleveland cliffs inc clf 3rd qtr net
in comments on its latest export sales report the department said iraq japan and the ussr were the largest buyers
once the agreement is approved the utility would still have to prove cost of service increases to support at least the maximum increase each year a spokesman explained
pennsylvania real estate investment trust pei 
gelco corp said that excluding the effects of a restructuring plan it expects pre tax operating earnings for the year to end july 31 1987 to be about the same as those of last year
wall street sources said twa has some cash with which to do the offer
non callable to maturity the issue is rated a top flight aaa by both moodys investors service inc and standard and poors corp
investor boosts trans lux tlx stake
the notes in denominations of 100000 dlrs will have maturities ranging from one to six months
pitney bowes pbi unit sells five year notes
aegon will pay the holders of unexercised warrants outstanding on july 15 1993 1500 guilders each
the balance will be used in 1988
sumitomo metal international finance plc in london is wholly owned
in a newspaper advertisement the company said the offer and withdrawal rights expire april 20 unless extended
m 1 money supply rose a provisional 173 pct to 4286 billion pesos at the end of december 1986 from 3652 billion a month earlier
the agreement guarantees access to the spanish market for two mln tonnes of non ec maize a year for the next four years
dart group inc said it is preparted to negotiate all terms of its proposed acquisition of supermarkets general corp
he said the current depression on world coffee markets was not totally unexpected and would have no immediate bearing on colombias financial state which he described as sound
houssels said showboat since the opening of the atlantic city hotel casino showboat has had to start charging interest expenses connected with debt it sold to finance the facility directly against income rather than capitalizing the interest as it had been able to do previously
the garuda indonesia airways dc 9 crashed yesterday on a domestic flight while carrying 37 passengers and eight crew members an airline spokesman said
the notes can be called from september 26 1989 at 101 1 4 declining semi annually
yesterdays session failed to reach a compromise but some progress was made he said
warnaco group inc eight mths jan three net
extraordinary gain one mln vs nil
the partnership said it was willing to negotiate all points of its offer including price
the ten principal destinations during january december 1986 with comparative figures for the same period of 1985 in brackets were as follows in tonnes holland 2444260 2234049 belgium 546423 595635 italy 430029 338766 czechoslovakia 365897 236836 cuba 253067 222842 iran 250646 192430 west germany 232049 158491 bulgaria 207030 300488 spain and canary islands 176287 113751 corea 163304 37416 the board added
council of economic advisers chairman beryl sprinkel said the reagan administration remains strongly opposed to a tax increase including 18 billion dlrs of new revenues in the budget plan by congressional democrats
machine technology inc said it expects to report a second quarter loss of 13 to 17 cts per share on sales of about 4400000 dlrs
harvest of late type valencia oranges is increasing rapidly with the near completion of the early and midseason varieties
the christa was taken in tow with a damaged bow
on friday dixons agreed to reopen its tender offer until march 25 wednesday
saudi arabia is now keeping production down to defend opecs newly established 18 dlr a barrel benchmark price
the payment date is april 15
this transaction makes use of another sector of the capital markets that for short term note facilities to finance a medium term credit
management intends to include the charge and writedown in response to the preliminary findings
2 or better yellow corn with 145 pct moisture maximum is for delivery from november 8 25
they said this had come as a surprise and expected the targets 290 marks and 160 dlrs to be promptly tested in the foreign exchange markets
colonial bancgroup clbga makes acquisition
johnson said the dollars decline against other currencies such as the japanese yen has been gradual
dividend payable november 13 to shareholders or record october 30
the most active issuers to date had two main motivations lower costs of funding and increased financial flexibility
on the other hand the impact of the temporary scheme on ec food surpluses has been slight
in december the brookehill group in new york said it had 97 pct stake
it said the options can be exercised at 10 dlrs a share up to december 31 1987 then at 1250 dlrs a share until december 31 1988 and then at 15 dlrs a share until december 31 1989
in japan the government maintains a price stabilisation zone system for beef and pork to support domestic producers
it said that following a final feasibility study the plant should open in the early 1990s when oil prices are expected to exceed 20 us dlrs per barrel
fees comprise 1 1 2 pct selling concession and one pct management and underwriting combined
i see it as giving american consumers the information they need he said
chemical chl raises prime rate to 7 3 4 pct
the offer will expire april 14 1987
the company said it has about 215 mln shares outstanding
regis corp rgis regular dividend set
pdvsa to sign champlin refinery deal march 17
ec denies maize exports reserved for us 
the company said it had bought a total of 40 companies during the year for a total price of some 180 mln stg
the payment date is april 7
saint gobain us subsidiary seeks 150 mln dlr five year facility arranger chemical
last month the thai agriculture ministry said 1986 87 production was expected to fall to 23 mln tonnes from 248 mln in 1985 86
the car industry was the major beneficiary of the upturn in activity in february with both domestic and export orders rising
rainbow chief executive craig heatley said in our opinion bils actions over the last few days have been undertaken for their own strategic purposes which conflict with the desire of both companies to merge their interests bil has said it is against the merger because it sees progressive shares as being worth twice as as much as rainbows
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
paradise fruit parf sets lower dividend
it was impossible to resolve the dispute by crises he was quoted as saying
but the left wing was left in control of the union after the christian democrats and independents failed to reach agreement on a joint candidate for the presidency and withdrew from negotiations
cocaine although illegal is bolivias largest export
kobe rubber exchange to extend trading hours
citibank was the first to announce an increase on tuesday
for example conoco inc a dupont dd subsidiary will spend 400 mln dlrs to build the gulf of mexicos deepest production platform which will produce 50 mln cubic feet of gas per day
the commodity credit corporation has accepted a bid for an export bonus to cover a sale of 12500 tonnes of wheat flour to iraq the us agriculture department said
varity corp vat 4th qtr jan 31 loss
hutton lbo a wholly owned subsidiary of ef hutton group inc will be majority owner of the company
ec farm ministers who would have to approve such a tax are split on the issue and are expected to decide it at a marathon meeting on ec farm prices beginning in luxembourg on june 15
about 9000 miners employed by the state corporation comibol declared a general strike as from midnight 0400 gmt to press for higher salaries a statement by the federation for bolivian mine workers said
for the time being we just await developments
roto rooter inc roto 1st qtr net
partly offsetting these outflows exchequer transactions and bankers balances above target will add some 380 mln stg and 35 mln stg to the system respectively
the figures are subject to revision over a long period
the index for input prices also not seasonally adjusted was set at 1282 in march after februarys 1296 the 11 pct fall in input prices between february and march was mainly due to a seasonal fall in industrial electricity costs and lower scheduled prices for petroleum products the department said
the donners currently own about 44 pct of the companys outstanding shares barco said
for six months the yield was 585 pct and the bids ranges from 556 pct to 560 pct with 30 pct of the bids accepted
between february 26 and today five ships have loaded 137000 tonnes of cereals the sources added
were hoping for no rate increases but we cant say for sure
the officer who travelled through an area from belgrade to subotica said in a field report dated march 27 the wheat crop had been set back at least three weeks because of a cold spell that followed a period of warm weather
brooklyn union will continue receiving a small amount of supplies from minor fields under a grandfather clause a brooklyn union official said
but santana said if the saudis change their minds and decide to respect the terms of the contract then petrobras will lift the order to cancel the shipment
clayton and dubilier inc and senior management of a unit of borg warner corp bor said it will form a new company to buy borg warners industrial products group for about 240 mln dlrs
the court of appeals decision issued last december reversed an earlier district court ruling that selling commercial paper is an improper bank activity and that private placements by banks is also improper
interstate bakeries corp said its royal american foods subsidiary agreed to buy the assets of landshire food products inc a new mexico based producer of packaged mexican food products
another major shareholder rite aid corps rite investments corp unit had accepted the offer for 99 mln shares and would take the cash alternative for 90 mln of these
the hydraulic co said its board approved a three for two stock split of its common stock and increased its quarterly cash dividend
standard and poors said that some finance subsidiaries have formal support agreements with the parent company which obligate the parent to maintain the units net worth
sullivan said some may assume the fed has firmed policy modestly to support the dollar because net borrowings in the two weeks to wednesday were nearly 400 mln dlrs after averaging around 250 mln dlrs over the previous two months
each class b share has 100 times the voting power of a class a share giving the class b stock about 93 pct of resorts voting power
analysts have said they believe gaf chairman samuel heyman sought borg warner because of its chemicals and plastics business
this reflected the success of stable and relatively tight fiscal and monetary policies followed by the government it said
american sources say he is ready to state that the best way to reverse protectionist sentiment in the united states is to implement four key uruguay proposals an end to agricultural subsidies inclusion of trade in services and investments in gatt regulations tightening of restrictions on pirating of so called intellectual property such as trademarks patents and copyrights new rules to resolve trade disputes among gatts 92 member states
nordic investment bank issues danish crown bond
charter said some of the settlements remain subject to appeals and final court approvals and resolve claims against charter and its subsidiaries except independent petrochemical
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
timminco ltd said it acquired universal adhesives inc of memphis for undisclosed terms in a move to expand timmincos operations into the united states
the agreement is subject to approval of both boards and wtc shareholders
shortly before auction time on the new bills the rate on the outstanding three month bills was unchanged at 564 pct bid while the rate on the six month bills was one basis point higher at 568 pct bid
lawson said he expected intervention to be sterilised by draining excess sterling liquidity from the market through new issues of government securities and foreign currency sales when the market allowed
they agreed however that further actions will be essential to resist rising protectionist pressures sustain global economic expansion and reduce trade imbalances
ended january 31 shr nil vs nil net profit 351000 vs loss 243000 sales 7050000 vs 7012000 avg shrs 106780000 vs 93666000 six mths shr loss one ct vs loss one ct net loss 999000 vs loss 563000 sales 106 mln vs 130 mln avg shrs 106641000 vs 92986000
in a prepared statement piedmont said there would be no further announcements concerning this situation today
chrysler c to tender for electrospace ele 
our central message to japan this week was that while we have made progress in some areas much needs to be done he told a press conference after three days of talks
sixty pct of the debt will be repaid in monthly instalments over seven years at 1 4 point over bahrain interbank offered rates bibor the remaining 40 pct is only to be paid after completion of the first tranche also at 1 4 over bibor
an increase in reed shares in london today was attributed by brokers to rumors of harcourts interest and also to rumors that maxwell might be a buyer
due mainly to the fall in oil prices to around 12 dlrs from 25 dlrs in the year 58 wells both exploratory and production were suspended 38 of them in less productive areas than the offshore campeche fields which accounted for 64 pct of production
but the commission said imposing the ban would encourage the use of unleaded fuel as well as making it easier for gas stations by cutting the number of types of gasoline they had to stock
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
that is in fact what has happened since paris monetary analysts said stability has been helped in part by the decision of industrial nations to bury the hatchet and cease to quarrel over short term policy objectives
the issue the first such offering this year will comprise 250 mln ringgit of eight year stock at 66 pct 700 mln of 10 year stock at 68 pct and 650 mln of 21 year stock at 76 pct all prices at par it said
supply from argentina and south africa for july september is still uncertain
in february 1986 the current account had shown a 685 billion mark surplus and the trade account a 684 billion surplus
intercare care drops offering buyout plans
significant declines were recorded in the output of automobiles and parts however
pacific lighting corp said it is considering the sale of its land development line of business and will be initiating discussions with potential buyers
asked if he was satisfied with west german and japanese stimulus wilson replied they could do a little more french finance minister edouard balladur meanwhile confirmed there would be a communique at the end of the meeting
s and p said debt ratings for the transportation industry would remain stable aside from changes because of mergers
stockholders wont pursue continental cuo bid
even if west germany and japan succeed in stimulating their economies it may not be enough to solve structural economic imbalances in the near future dealers said
most market expectations called for the chancellor to announce a psbr of about 55 billion stg
sedgwick wil retain a 49 pct interest in river thames which is a property liability reinsurer
the proposals are still under review by the interagency working group the usda official said
tokyo grain exchange to raise margin requirements
shr loss 63 cts vs profit 10 cts net loss 30 mln vs profit 483000 revs 619 mln vs 437 mln note1986 net loss includes loss of 14 mln dlrs or 28 cts a share from discontinued operations
sterling opened 03 points lower in trade weighted terms at 713 dealers noted the chancellor said he would achieve his goals on sterling by a combination of intervention in currency markets and interest rates
the sale is expected to conclude by the middle of april bow valley said
opening the meeting ahmed al tayer the uaes minister of state for finance and industry said implementation of joint economic agreements is increasingly linking the interests of gcc citizens together the general assembly of the gulf investment corporation met in abu dhabi earlier under the chairmanship of bahrains finance and national economy minister ibrahim abdul karim the corporation was formed to contribute to joint economic and investment projects in the gcc
central bank governor jose fernandez said the 103 billion dlr debt restructuring package he and finance secretary jaime ongpin negotiated with the philippines commercial creditors was better than mexicos
miti anxious to salvage the bilateral agreement has been pressing chip makers to limit production in the hope that will boost domestic chip prices and reduce the incentive to export
rio coffee trade prefers no pact to quota cut
the debentures are convertible into the companys common stock at 7650 dlrs per share representing a premium of 2191 pct over the stock price when terms on the debt were set
as previously announced lanes shareholders will receive 15 shares of interco common stock for each share of lane stock held
only the cash portion of the payments will be subject to the 43 pct reduction in compliance with the gramm rudman budget deficit control act of 1985 it said
overnight interbank money for tomorrow was indicated at around 11 pct almost a point below the levels ruling at the end of last week
the broker said he saw no logical explanation for the prohibition because his firm only acted act as an intermediary between venezuelan brokers exchange houses and banks
statoil awards veslefrikk oil field contracts
banking sources noted that the use of a special purpose vehicle will provide mexico with particularly attractive financing at a rate of about 1 4 to 1 2 pct over the london interbank offered rate libor the cost of the new financing compares with a spread of 13 16 pct on the loans in the new commercial bank package
although public service recently received a disappointing rate order from the new jersey board of public utilities the agency believes the companys strong financial management should help maintain debt protection measurements within current levels over the next few years
iu international iu to sell insurance units
us weighs lifting japanese trade curbs
it is not arithmetically possible for every country in the world to be a net exporter at the same time
argentina could suspend debt payments deputy
iraq refused to sign the pact by which opec maintained its ceiling at 166 mln bpd for both the third and fourth quarters of 1987
protective life prot in acquisition
usda estimates 1986 soviet grain crop at 210 mln tonnes vs 210 in feb 192 year ago
oecd sees 15 pct west german real gnp growth in 1987
williams holdings plc said that it had received acceptances for its offer for norcros plc ncrol from the holders of 233448 norcros ordinary shares or 018 pct and 180240 preference shares or 819 pct
fnma delays debenture offering announcement
much attention was given to the polish delegation and the talks at both institutions involved displayed a lot of understanding for polands difficult economic position pap quoted baka as saying
in selling am general to ltv american motors agreed to indemnify ltv against losses incurred by ltv resulting from the emerson electric claims
also seen arriving were japanese finance minister kiichi miyazawa and japans central bank governor satoshi sumita and british chancellor of the exchequer and central bank governor robin leigh pemberton
these developments were increasing the bundesbanks scope for a rate cut in the medium term economists said
gould said the move is part of its plan to divest its defense systems businesses and focus on its computer and electronics sectors
a committee spokesman told the rest of this years quota will be shipped during the rest of 1987
the paper said that only financial organisations and not other firms or individuals could handle such trading
but china will probably find that such funds will not increase except for those from japan and the world bank given other claims particularly from sub saharan african countries which cannot raise commercial credits they added
foreign governments and multilateral organisations hold one third of ecuadors 816 billion dlrs total foreign debt he said in a news conference at the presidential palace
tamura referred to a 55 pct rise in japanese imports of ec manufactured goods in the year ended march 31
far west financial fwf to buy progressive
churchs fried chicken inc chu 1st qtr net
those who contend the strike was necessary must realize their words are easily construed as a tacit endorsement of war with iran said sen mark hatfield of oregon a republican
the company said two groups of workers began attacking each other at about 1000 local time with machetes knives and sticks at a hostel at the zincor plant some 40 kms east of johannesburg
bayou international ltd said it purchased one third of the outstanding stock of solmecs corp nv a netherlands antilles corporation for 1750000 dlrs
also affirmed were the prime 2 commercial paper of chryslers finance arm and the baa 1 guaranteed eurobonds of chrysler credit canada ltd
uk chancellor of the exchequer nigel today repeated that he was satisfied with the current level of sterling both against the dollar and the west german mark
the soviets will try to out capitalize the capitalists and buy corn before prices get too high the official said
meese sees a plus in chrysler amc merger
the hawaiian insurance companies ad assets at the end of 1986 of 1374 mln dlrs and earned premiums of 461 mln dlrs
muldoon has no rank in the opposition national party and party leaders with an eye to general elections to be held by september have rejected his calls for a managed float
us crude oil and gas liquids production last year fell to an average of 33290 barrels per day from 34102 barrels per day in 1985
shareholders would get 17 dlrs in cash and a share in each of the two new companies for each existing common share they hold
loan loss provisions a mandatory five year averaging of actual loan losses also rose in the first quarter to 6375000 dlrs from year ago 113000 dlrs the bank said
gorman rupp co grc sets quarterly
moss rosenberg verft a subsidiary of kvaerner industrier a s kviool won a 12 billion crown contract to convert statoils semisubmersible rig west vision to a floating production platform and to build the deck for a separate fixed well head platform to be placed on the field it said
argyll group credit facility oversubscribed
it said the french company publishes original titles by french authors as well as translations of american british and german medical books
financial results for the nations largest tax preparer are expected to be good in fiscal 1987 but next year could be a bonanza analysts say
a 3 1 2 year labor contract at the plant expired december 13
shareholders of datron will be asked to approve the plan at their annual meeting to be held in june or july and the merger is expected to be completed by july 31 it said
he said the country had been loyal to the principles of the cartagena group of latin american debtors but had decided to reach an agreement convinced that venezuela is a specal case because of the vulnerability of its economy venezuela signed a 12 1 2 year rescheduling accord in february 1986 but immediately sought new terms because of falling oil income which dropped 40 pct last year
they indicate that domestic demand has been a little more sluggish than was expected at budget time he said
the key issues to be addressed at this council session which divide icco members are whether non member cocoa should be eligible for buffer stock purchases and what price differentials the buffer stock should pay for different types of cocoa delegates said
union uco to sell union flonetics unit
french 1986 current account surplus revised
carter hawley hale stores inc said it has set june 29 as the record date for shareholders voting on the companys proposed restructuring at its annual meeting
a morgan switzerland official said that on the basis of the maturity of four years and three months the pricing involved an implicit volatility of gold of 245 pct before the warrants were in the money compared with implicit volatility of 30 pct for the indosuez gold warrants and 26 pct for the citibank gold warrants recent issued with maturities of 18 and 24 months
it said two miller tabak representatives will be named to the penn traffic board on march four to serve as the only directors with penn traffic president and chief executive officer guido malacarne
new england electric said internally generated funds will cover all of its power plant construction costs this year and 65 pct of the 108 mln dlrs its retail distribution units plan to spend in 1987
first union func sells debt at 8 1 8 pct
petro canada estimates reserves in the terra nova fields graven block of between 68 mln and 70 mln barrels of oil company spokesman bob foulkes said from petro canadas calgary office
frank fountain assistant treasurer at chrysler corp said a 100 mln dlr swap it made in december had gone so smoothly that chrysler has plans for more
but now with all the smuggling even the state cant compete with smuggled dominican refined sugar rigaud said
i dont think we can talk of write offs even the poorest countries have not asked for that he said
he said an ad hoc committee of the adb board of governors comprising 18 african and non african countries recommended a 200 pct increase in the organisations capital for 1987 91
japan auctions 280 billion yen of four year notes
visible stocks of 17 oils and fats are probably peaking now and are likely to fall sharply by october 1 this year the oil world newsletter said
if the saudis wish to stop our trade relationship i am sure that if they do we will be getting dozens of offers from elsewhere santana added
yellow freight system inc said its expects 1987 first quarter profits to be substantially below the 142 mln dlrs or 50 cts a share earned in the same period a year ago
the central bank bought bank bills outright comprising two mln stg in band two at 9 13 16 pct 15 mln stg in band three at 9 3 4 pct and 58 mln stg in band three at 9 11 16 pct
gulf said it voluntarily informed appropriate government officials when the material was discharged
gb ltd and phillips petroleum co uk ltd
the group which includes reliance financial serivces corp a subsidiary of reliance group holdings inc rel said it bought the stock as an investment
avery avry sees qtr year loss
it has not been proposed formally and no details were given
our first quarter results show clear benefits of our restructuring chairman edson spencer said
the current account surplus which includes trade in services as well as goods climbed to 738 billion dlrs last month from 495 billion in january and 389 billion a year ago
taiwan purchased 296300 tonnes for the 1986 87 season and 170000 tonnes for the 1987 88 season it said
taiwan bought 25000 tonnes us soybeans today at 20340 dlrs a tonne c and f gulf for may 15 30 shipment private export sources said
some traders said a currency union could mean speculation against the saudi riyal rubbing off on other gulf currencies but plans call for a permitted divergence in the system of 7 1 4 pct large enough to avoid sudden strains
bank of france added money market liquidity at 7 3 4 pct dealers
qtly div 30 cts vs 30 cts in prior qtr payable may 25 record may one
it makes for an explosive type of situation that often leads to a breakout in this case to the upside sloane said
the justice department said it asked the government to proceed cautiously on a plan allowing the nations two largest intercity bus companies to merge their operations a move one of the firms said may derail the deal
baker international corp sues hughes tool seeking merger completion
versar inc said it has agreed in principle to acquire martin marietta corps martin marietta environmental systems unit for about 5300000 dlrs
tultex ttx increases dividend
navistar nav up on higher earnings opinion
light to moderate rain spread from northern thailand to northern vietnam as dry weather prevailed elsewhere in southeast asia
carlton intended to increase its presence in the us which represented 50 pct of the world television market
it also said its expects to see opportunities in the building products area particularly in composite panels and in other engineered products directed toward specific rather than commodity end use markets
the gcc an economic and military alliance which has generally supported iraq over iran comprises bahrain kuwait oman qatar saudi arabia and the united arab emirates
but operators find it hard to push the dollar either way for fear of possible concerted central bank intervention
but the problem of bad loans led to a rescue by three state banks of medium sized turkiye ogretmenler bankasi as earlier this year when the treasury which acts as a watchdog body over banks discovered that the its assets were to a large extent made up of non performing loans
in a letter to the congressional leadership accompanying the sugar program improvements act of 1987 peter myers deputy agriculture secretary said the reagan administration wants the sugar loan rate cut to 12 cents per pound beginning with the 1987 crop down from 18 cts now
oper shr 122 dlrs vs 88 cts oper net 135 mln vs 117 mln revs 1391 mln vs 1605 mln nine mths oper shr 200 dlrs vs 115 dlrs oper net 228 mln vs 154 mln revs 3488 mln vs 3859 mln note 1987 3rd qtr and nine mths oper net excludes gains from tax loss carryforwards of 3067000 dlrs and 8548000 dlrs respectively
horizon financial services mortgage loans and horizon funding is a wholesale loan purchasing operation
payment date is april 2
allied dunbar reported a 51 pct rise in life annual premiums to 39 mln stg
phelps dodge could spend between 250 mln and 500 mln dlrs to buy another non copper company durham said citing about 100 mln dlrs of cash and 580 mln dlrs of untapped bank credit
opec remains within its agreed output ceiling of 158 mln barrels a day and had expected current fluctuations in the spot market of one or two dlrs indonesian energy minister subroto said
following the merger balzac shareholders will hold 80 pct of the outstanding stock of magellan the company said
shr nine cts vs eight cts net 373000 vs 269000 sales 3501000 vs 2507000 avg shrs 4036000 vs 3326000 note periods end january 31 1987 and 1986 respectively
the bank of england said it revised its forecast of the shortage in the money market down to around 700 mln stg from its original estimate of 800 mln
the department previously reported january retail sales fell 58 pct
northgate exploration ltd said hourly paid workers at its two chibougamau quebec mines voted on the weekend to accept a new three year contract offer and returned to work today after a one month strike
a fed spokesman told a press briefing that there were no large single day net misses in the feds reserve projections in the first week of the latest bank statement period
hunter helicopter is in the business of building a two passenger helicopter retailing for about 50000 dlrs each which is certified by the federal aviation administration
chrysler corps proposed acquisition of american motors corp is valued at about 155 billion dlrs including the cost of acquisition and the 767 mln dlrs in american motor debt that chrysler will assume analysts said
borg has half the market in the us and is the leading technical player and the leading innovator rose said
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting
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 near term the traders said
australian annual broad money supply growth 103 pct in january
it put out the statement by 5 0 vote for a 30 day comment period
the company said it sold dublin calif based plant cell research to montedision spa of milan italy and arco seed co to uf genetics of hollister calif
guinness is also planning a resolution at the annual meeting in may to remove both saunders and ward from the companys board
mead mea files 150 mln dlr shelf registration
turner equity investors inc teq payout
bowne and co inc bne sets stock split
enis subsidiary ecofuel will join pequiven the petrochemical subsidiary of pdvsa in building a 160 mln dlr plant to produce mtbe a gasoline additive used to increase octane levels
the co leads are privatbanken a s and generale bank brussels
level iv reflects grain entered after oct 6 1981 for feedgrain and after july 23 1981 for wheat
stoltenberg says paris accord policy to continue
it said nippon will contribute an initial investment of more than 100 mln dlrs
oscar mayer and co inc a unit of philip morris cos inc said it will redeem all of its outstanding 785 pct debentures due january 15 1996 on april 30 1987 at 101450 dlrs plus accrued interest for each 1000 dlrs prinicpal amount
terms were not disclosed
its been a long time since i was deluged with as much information as i have been
asian dollar assets exceed 200 billion dlrs
we have the capacity to produce the amount rastam hadi petronass vice president for upstream sector said
southland corps citgo petrleum corp said it raised the contract price it will pay for all grades of crude oil by one dlr a barrel effective today
the company also said it intends to reduce its second quarter common stock dividend to 35 cts a share from 69 cts
proceeds will be used to reduce outstanding bank debt under the companys revolving credit agreement fieldcrest cannon said
it said it plans to enter the health care business in japan
the seller was also undisclosed
there is not much trading of bank issues these days an underwriter said referring to the wider bid offer spreads
the issue is available in denominations of 5000 dlrs and will be listed in luxembourg
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
the current rash of labour unrest in industry and agriculture stems from the failure of the governments now collapsed cruzado plan price freeze
mitsui trust international ltd is co lead
trump plaza 4th qtr net
tehran radio quoted irans top defence spokesman ali akbar hashemi rafsanjani as saying yesterday that washington was moving to the brink of an armed encounter with us the us is increasing its gulf fleet from seven to 10 warships and sending the refurbished battleship missouri to patrol just outside the strait of hormuz
billiton seeks change in surinam policies
many analysts are skeptical about further gains in the pound on the inference that the bank of england will seek to relieve upward pressure on the currency by pushing down interest rates after the nations budget is released march 17
moodys expects minnesota powers earnings returns coverage ratios and cash flow measures to decline substantially during the next few years
shr diluted loss 31 cts vs profit 17 cts net loss 2806005 vs profit 1513395 revs 150 mln vs 104 mln avg shrs diluted 8982754 vs 8804899 note current year includes loss of 34 mln dlrs from takeover defense expenses
the par priced issue is callable from 1990 at 104 pct declining by 1 2 pct per annum to par thereafter but is not callable until 1991 unless the share price exceeds the conversion price by 150 pct
reagan sends intl rubber agreement to senate
british airways plc babl is issuing a 100 mln stg eurobond due may 6 1997 paying 9 1 2 pct and priced at 101 1 2 lead manager union bank of switzerland said
the cbis monthly trends survey for march shows that 43 pct of the 1685 polled uk firms expect to raise output in the next four months
stone said economic data available by late june may be just weak enough to prompt one more discount rate cut
pegasus said it completed the first phase of its 1987 super pad ahead of schedule as well allowing the mining company to load up to 75 mln tons of new ore on the pad
diaz said new york investment bank allen and co inc had earlier said it was interested in buying all 381 mln sequestered shares
the federal grain inspection service advisory committee is composed of 12 members representing the grain industry who provide advice to the administrator of the federal grain inspection service
dollar yen intervention responds to pressure
officials said that five other tankers were waiting outside the terminal for conditions to improve
to assist in loan activities the bank said it borrowed 191 billion dlrs in the capital markets in 1986 bringing its total outstanding borrowings to 1211 billion dlrs
moodys investors service inc said it downgraded to ba 2 from baa 3 southdown incs 140 mln dlrs of senior debt
lawson told a london television interviewer tuesday i think the scale of the stock fall was very great
but it also said it is investigating the possibility of seeking to influence the composition of the management of the company and may increase its stake
the official press had estimated the 1986 87 sugar crop november march at 482 mln tonnes down from 52 mln a year earlier and domestic consumption at six mln tonnes a year
financial analysts say they are pleased with congressional moves to trim next years federal budget deficit but believe the actions will do little to help improve the us trade deficit or buoy the economy
frontier insurance group inc said it is currently negotiating to acquire the business of medical quadrangle inc formerly its largest medical malpractice insurance producer and the business of its other malpractice producer medical professional liability agency inc
but bell said the authorities would like to see another 10 or 15 billion dlrs in the reserves before joining if they did so
the company did not quantify the size of the expected loss
agriculture under secretary daniel amstutz and gao senior associate director brian crowley are set to testify before the senate agriculture committee tomorrow
exco recently purchased an 80 pct interest in rmj securities inc one of the four major brokers in us government bonds which has offices in london new york and tokyo
country by country production figures are as follows in mln bpd country current february quota algeria 064 064 0635 ecuador 026 026 0210 gabon 015 015 0152 indonesia 116 116 1133 iran 180 220 2255 iraq 175 175 1466 kuwait 115 140 0948 libya 095 095 0948 nigeria 100 114 1238 qatar 018 023 0285 saudi arabia 310 350 4133 uae 110 115 0902 venezuela 150 150 1495 total 147 160 158
but in an address to a conference of the indonesian petroleum association he said if worst comes to worst and say the flow of oil through the straits of hormuz is completely shut off i believe the world oil supply given time to adjust can take care of the situation but this is not to say that prices at least for a short duration will not skyrocket as speculators take advantage of the situation he declared
usage in the 1985 86 season at 5255 vs 5255 last month
we intend to keep that debate open herrington said
the tonnage sold in both sectors declined due to higher prices and lower consumer demand especially in france and west germany
in testimony before a house appropriations subcommittee baker said that he had given that message to brazilian officials earlier this month when they met for talks in washington
ual inc offering 55 mln shares of common stock at 5650 dlrs per share
at that meeting the two reaffirmed their willingness to cooperate on exchange rate issues
payment date is april 23
however non accrual loans declined 130 mln dlrs from fiscal 1986 year end
bally bly considering sale of six flags
royex gold mining rgmto 2nd qtr march 31 net
the company said it is working to conclude a lease financing or other financing for the purchase of the 23500 ton vessel which is to be delivered in early april and renamed canada star
calny earned 1192000 dlrs on sales of 562 mln dlrs for the nine months ended november four
the spokesman said fecsa was sending telexes to its creditors to set dates for the renegotiation
saab scania launches 100 mln dlr euro cp program
shr six cts vs 17 cts net 1064000 vs 2676000 revs 1446 mln vs 1294 mln avg shrs 171 mln 161 mln six mths shr 13 cts vs 25 cts net 2167000 vs 4029000 revs 2480 mln vs 2492 mln avg shrs 171 mln vs 161 mln
testifying at a house subcommittee hearing on livestock issues rep
the borrowers want to take advantage of low japanese interest rates but have no need for yen
net profit before minorities 320 mln vs 268 mln making 960 mln vs 807 mln
he emphasised that the megabank was not an administration plan but something some people have suggested other us officials said japanese commercial banks are examining the creation of a consortium bank to assume third world debt
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
claims on the international monetary fund fell 219 mln francs to 1931 billion francs
marion stewart an indepedent petroleum economist said slow growth in the economies of the us and oecd would keep demand for oil slack and he now estimates that demand to rise about 14 pct over 1986
in such relatively small amounts the new issues were unlikely to have a significantly harmful effect on government bond prices in general dealers said
proceeds will be for general needs
shr profit one cent vs loss 26 cts net profit 59198 vs loss 132702 revs 634616 vs 485730 six mths shr profit one cent vs loss four cts net profit 49669 vs loss 208278 revs 1056452 vs 944330
consumption of some base metals and their dlr prices are showing signs of improvement although iron ore markets have weakened
newport pharmaceuticals nwph 3rd qtr loss
twa said the merger is subject to the usair board redeeming the preferred stock purchase rights the poison pill issued to shareholders last year and taking action so that the vote of a majority of the outstanding common stock is required to approve its proposed move
most of these are of the least sophisticated type of technology such as medical instruments
while such approaches may have some political appeal they are impractical and ultimately counterproductive mulford told a house subcommittee this week
the certificates are being extended because of a shortage of commodity credit corporation inventory available for exchange with certificates usda undersecretary danial amstutz said
silver state mining ssmc corrects net
ec sugar import levies
danske bank is first danish bank to issue cds
the rosy outlook for ges jet engine business coincides with an upbeat performance in other segments
replacing inco and owens illinois inc will be coca cola co and boeing co effective tomorrow
like yesterday it bought dollars and sold yen in small amounts they said
there is a 1 1 4 pct selling concession and a 5 8 pct combined management and underwriting fee
some analysts said american express could use capital since it plans to expand globally
conference chairman manaspas xuto of thailand has been holding consultations with producers and consumers throughout the day
wickes wix plans reverse split calls debt
bankers see little chance for a substantive recovery in bolivias economic fortunes and so are willing to collect what they can on the loans
fees comprised 1 1 4 pct selling concession with 3 4 pct for management and underwriting combined
gaf emphasized the amicable nature of the proposed transaction which it characterized as a partnership
the traders said they expect very low deliveries of temporao beans in the first three months of the harvest and the bulk will not appear until the last month september
north east insurance co said due to the magnitude of its losses in 1986 and 1985 it may be found in violation of minimum capital and surplus requirements by officials in maine and new york and be subject to sanctions and administrative actions in those and other states
canadian trade minister pat carney said that agricultural policies should not hurt world international trade and should therefore become more price responsive over time
margins are unchanged for gold copper and aluminum contracts it said
the borrower is the wholly owned international holding company subsidiary of svenska finans ab a subsidiary of svenska handelsbanken sweden
us m 1 money supply falls two billion dlrs
dayton hudson dh march sales off 49 pct
the decision to offer fixed rate loans industry officials said reflects the increasingly competitive nature of the home mortgage business
norway boosts oil output by 22 pct in september
cross and trecker corp said its warner and swasey subsidiary will seek to sell its grinding division to focus on other areas of its business
the dean witter economist said that todays prime rate rise may have been less a response to interest rates than an attempt to enhance the balance sheet bottom line reiners said that given recent problems with loans to developing countries large money center banks with heavy exposures might be the first to match the higher prime rate in an effort to get more profitable spreads on other loans
for the 12 months ended in february the cpi rose an unadjusted 21 pct
1985 year ended december 28 1985
the company said chief executive officer leon ruchlamer has supplemented the planned funding with 300000 dlrs
while the measure does not bind reagan to any action senate leaders said its adoption would warn japan stiffer legislation would be considered if the violations continue
grain ships loading at portland
the offer was raised on march 24 to a final 675 mln dlrs in cash after cpc told amylum its initial bid was below ferruzzis 630 mln stg offer callebaut said
the bank of zambia previously held weekly auctions to distribute foreign exchange to the private sector and determine the kwachas exchange rate but these were suspended at the end of january
the employers spokesman said they were likely to restart the redundancy procedure afresh next week in an attempt to pre empt the may 7 final court ruling
there has also been a return of interest in industrial investment
torchmark corp said its board authorized the purchase from time to time of a significant portion of its 7 3 4 pct convertible subordinated debentures
other us options would be to appeal the decision in canadian courts or to retaliate against canadian goods a lower level us trade official said
paralax said the acquisition is scheduled to close march 16
but fitzwater noted that reagan did have a fundamental objection to tax rises and special tax breaks
hollinger lost 87 mln dlrs or 654 dlrs a share last year on fewer average shares and after an extraordinary loss of 52 mln dlrs
usda estimates canadian crops
in a related transaction quest blood said it executed an agreement with alza corp which will make alza a preferred shareholder of quest blood and offer alza the right to acquire a total equity position of up to 25 pct of quest blood in exchange for acquisition of patent rights to alza technology
in return the south koreans gave a verbal assurance to buy indian goods worth 10 pct of the contract against the 25 pct sought by new delhi the trade official said
he said the latter would be based on more optimistic expectations for the broadcast industry
but the second half year should be better he added
poul erik moller a santa monica calif investor said he raised his stake in first western financial corp to 412000 shares or 65 pct of the total outstanding common stock from 347000 shares or 55 pct
the company said drilling results from the program which started in late february are encouraging but it is too soon for conclusions starrex did not disclose check assay results from the exploration program
the executive board has limited its current discussions to administrative matters and is set to adourn thursday
it said it will explore all possibilities before recommending a final course of action
we can say that we are achieving the recuperation of credit but that cannot be done overnight azpurua said in a television interview
the inverse floater totals 48 mln dlrs
bank of japan to sell 800 billion yen in bills
the west german government is raising its total tax cuts in 1988 by 52 billion marks to 144 billion
although bought by french citizens they are managed by foreign banks morgan guaranty trust co of new york and banque de neuflize schlumberger mallet sa controlled by algemene bank nederland nv abnnas an sat spokesman said
proponents of an expansion of 0 92 maintain there are large estimated cost savings of such a bill ranging from estimates by the administration of 200 to 500 mln dlrs
the program was announced in late january and dealers expect the company will be pushing to maintain its ability to obtain some of the finest terms available in the international markets
japan brokers seek 10 year government bond auction
provisional net profit 55 billion lire vs 48 billion turnover 3750 billion vs 3369 billion
on february 20 brazil suspended servicing of 70 billion dlrs of debt to private foreign banks
niagara mohawks prime 2 commercial paper was left unchanged
us first time jobless claims fall in week
venezuelas biggest private debtor faces default
the company said in a statement accompanying the results that the underlying trend showed improvement and it intended to expand further by developing existing businesses and seeking new opportunities
no major market can keep its status without change he said
cuban cattle threatened by drought
but many of the ministrys actions are not unlike those of its bureaucratic counterparts in much of the western world including britain several analysts said
and donaldson lufkin jenrette already a primary dealer is preparing to open a us treasuries trading desk in london
shr loss 20 cts vs loss 26 cts net loss 798289 vs loss 777667 rev 262738 vs nil avg shares 3930360 vs 2959029 year shr loss 96 cts vs loss 125 dlrs net loss 3202355 vs loss 3060407 rev 676341 vs nil avg shares 3339174 vs 2445423
japan central bank intervenes in tokyo afternoon
the offer is also subject to a minimum 4425 mln shares or 51 pct of the outstanding shares being tendered
the bond will be available in denominations of 1000 and 10000 ecus and will be listed in luxembourg
the report said latin america continued to emerge slowly from the deep recession that began in the early 1980s with gross domestic product edging up to nearly four pct from 35 pct in 1985
he declined to comment on whether the subject of concerted action to shore up the dollar had arisen
the operation will put outstanding bill supply at about 1500 billion yen
uk credit business falls in january
carolco pictures inc said it signed a letter of intent to exchange 22 mln of its shares for all orbis communications inc stock within the next 60 days
spiller said there is a natural fit between both banks
the companys total production costs including depreciation but before interest and corporate expense should be below 50 cts a pound by late 1989 or 1990 he said
the two firms said the terms of the facility will be reviewed after the third year with a view to considering extension by a further two years
even before brazils move the difficulty in syndicating the 77 billion dlr financing package for mexico agreed to in principle last october was prompting top bankers to examine the way they are managing the debt crisis
neoax noax buys rexnord rex unit
the company currently operates 95 restaurants in 16 different states
about 60 pct of the west texas cotton crop has been planted and the remainder could be done by the weekend if weather remains hot and dry stichler said
development of alternate energy sources such as synthetic fuels as well as increased development in alaska could lessen us dependency on foreign oil lichtblau said
citicorp investment bank ltd is lead manager and arranger for the program and will act as a dealer along with shearson lehman brothers international swiss bank corp international ltd and sg warburg and co ltd
the group has been acquiring oil properties in both the us and britain which will begin to make a significant impact on profits in the 1990s
the average yield on the six month bills was the highest since 570 pct on feb 17
sorghum is priced per cwt corn yellow grade only
morgan said the notes will be reoffered to investors at variable prices
amid new concerns about inflation interest rate increases and trade confrontations finance ministers and central bankers meet next week to discuss a deteriorating global debt and economic situation
the transaction resulted in a discharge of silvertons bank debt of 210 mln dlrs and a three mln dlr loan to inverness from silverton inverness said
texas air said any former continental holder who has sought appraisal rights under delaware law may continue to seek the appraisal remedy in delaware chancery court or accept the settlement and drop the appraisal process
shr loss 48 cts vs profit 77 cts net loss 3923000 vs profit 11551000 year shr profit 180 dlrs vs profit 232 dlrs net profit 30171000 vs profit 36667000 loans 338 billion vs 317 billion deposits 381 billion vs 328 billion assets 555 billion vs 478 billion note full name western savings and loan association
holzstoff ag ghozbs 1986 year
brazilian red meat production in 1986 fell more than 20 pct to 19 mln tonnes due to drought which reduced slaughter weight and to herd rebuilding which started because of high cattle prices the us agriculture department said
scallop petroleum corp a subsidiary of royal dutch shell group said it will raise contract prices for heavy fuel 50 cts to one dlr a barrel effective tomorrow
includes gain of 66 mln dlrs in current year from purchase of envirodyne industries inc shares and charge of 14 mln dlrs in current qtr from research and development costs
mars store inc said it expects to report a loss of about 800000 dlrs for the fourth quarter and about 11 mln dlrs for the fiscal year ended january 31
canadian roxy in new alberta oil discovery
wheat guesses ranged from 13 mln to 18 mln bushels compared with 141 mln bushels a week ago and 179 mln a year ago
spain has revised some of its main economic targets for 1987 after studying the performance of the economy in the first quarter the economy ministry said in its monthly bulletin
japanese crushers bought 3000 to 4000 tonnes of canadian rapeseed in export business overnight for last half may first half june shipment trade sources said
he said the ec not only ignored manilas request for lower tariffs on coconut oil but proposed a levy on vegetable oils and fats that are vital exports for southeast asian countries
also in the event northeast enters into certain business combination transactions holders of the rights will be provided a right to acquire equity securities of the acquiring entity having a market value of twice the then current exercise price of the rights the company said
year on year total deposits rose 289 pct compared with a 306 pct rise in january and 344 pct rise in february a year ago period the bank said in its weekly statistical release
qtr ends march 31 shr one dlr vs 76 cts net 119 mln vs 8929000 six mths shr 192 dlrs vs 143 dlrs net 228 mln vs 168 mln note full name of bank is washington federal savings and loan association
in pretoria reserve bank governor gerhard de kock termed the agreement a good deal for both south africa and the banks
the lead managers are the state bank of india grindlays bank plc and mecfint jersey ltd
hungary is expanding its beet area to 105000 ha from some 95000 in 1986 the official mti news agency said but diplomats said policy is to balance supply with domestic demand
gillette shares rose sharply at the beginning of the month on wall street rumours that sir james goldsmith was building a stake in the company
iowa beef mailed a letter to members of ufcw local 222 informing them a lockout imposed by the company december 14 would be lifted and meatpackers could return to work under iowa beefs revised last and best final offer zack said
at the same time much will depend on brazils attitude
shell transport and trading plc scl shares the uk arm of the group rose to 1139 stg from a close last night of 1106 stg
carney said there was a lot of political will among the ministers here to complete the uruguay round of gatt in under four years and that there is also a realisation that it has to be done in a balanced way
ual inc said it is offering 55 mln shares of its common stock at 5650 dlrs a share for a total aggregate value of 3108 mln dlrs
the international cocoa organization icco council reached agreement on rules to govern its buffer stock the device it uses to keep cocoa off the market to stabilise prices icco delegates said
1985 restated
retained earnings for prior years were increased by 209 mln
corning glass works glw buys fiber optic stake
there have been sporadic but frequent demonstrations by farmers protesting over sharp falls in meat and pork prices and further cutbacks in community milk output
panhandles pel trunkline reduces gas rates
terms were not disclosed
no decision was announced as a result of the meeting and the french government has given itself until the end of next month to choose between the candidates
we havent been growing as fast as wed like but we are going to turn that around meyer said
if there were a strike we would not expect any interruption in our service the nbc spokeswoman said
fall dryness may be a problem
illinois tool works inc said it completed the sale of its drill and end mill division pine bluff arkansas and eclipse counterbore division detroit to newly formed eclipse industrial pruducts inc based in st
they were never meant to be a vehicle for the transfer of resources and that is how developing countries often interpret them traditionally britain has always been supportive of commodity agreements reflecting its strong links with third world producing countries
six months ended march 31 1987 share 60p vs 41p diluted interim dividend 14p vs 105p pre tax profit 312 mln stg vs 158 mln net profit 234 mln vs 114 mln sales 347 billion vs 155 billion operating profit 296 mln vs 164 mln interest and other income less central expenses credit 16 mln vs debit six mln companys full name is hanson trust plc hnsnl uk operating profit by sector consumer goods 123 mln stg vs 32 mln building products 31 mln vs 26 mln industrial 14 mln vs same food 20 mln vs nil
bill englebright joint secretary of the lpfa said there is a two tier market for physical potatoes
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
loh predicted fixed deposit and prime interest rates in singapore will stay low this year
northgate exploration ltd said year end 1986 ore reserves at its two chibougamau mines in quebec fell to 8141150 short tons grading 0077 ounce gold a ton and 163 pct copper from year earlier 8462000 tons grading 0077 ounce gold ton and 167 pct copper
crazy eddie said if a party were to acquire 30 pct or more of its common stock and then fail to acquire crazy eddie within 180 days thereafter rightholders would be entitled to exchange their crazy eddie common stock for subordinated notes of crazy eddie maturing either one year or above a certain dollar limt five years after issuance
the first banks to issue the variable money market cds were sanwa bank ltd sumitomo trust and banking co ltd dai ichi kangyo bank ltd fuji bank ltd and sumitomo bank ltd each with tranches of 100 mln dlrs shearson detailed
rep
japan cannot bear a further rise of the yen foreign minister tadashi kuranari said
former president robert d
moodys said the magnitude of beneficials 1986 operating losses from write downs of discontinued businesses has weakened its financial position
oper shr 71 cts vs 78 cts oper net 429 mln vs 466 mln revs 2940 mln vs 2749 mln avg shrs 555 mln vs 540 mln nine mths oper shr 288 dlrs vs 307 dlrs oper net 1692 mln vs 1815 mln revs 9934 mln vs 9614 mln avg shrs 552 mln vs 540 mln 12 mths oper shr 367 dlrs vs 376 dlrs oper net 2162 mln vs 2244 mln revs 131 billion vs 126 billion avg shrs 549 mln vs 539 mln note 1987 nine month and 12 month operating net excludes charges of 269 mln dlrs and 25 mln dlrs reflecting disallowed costs of utilitys 18 pct share of nine mile point number two nuclear power plant and the abandoned jamesport nuclear project respectively
smuggling blamed for closure of haitian sugar firm
the exchange said it did not know when the yen bond futures contract would be approved the the cftc but that cftc provisions require that new contract submissions be acted upon within one year after submission
the administration should communicate to the european community the message that the united states will view the establishment of such a tax as inconsistent with the european communitys obligations under the general agreement on tariffs and trade that will result in the adoption of strong and immediate countermeasures the resolution stated
cb and t financial corp cbtf year net
we believe it would put downward pressure on consumer costs
portuguese economy remains buoyant despite crisis
the us trade shortfall with taiwan was 16 billion dlrs in january up 244 pct from a year earlier
ef hutton lbo inc says unit terminates merger agreement with purolator courier
under an between sumitomo bakelite and sheldahl as long as its stake is more than five pct sumitomo said it has preemptive rights for 60 days following notice of issuance of new sheldahl common stock
he said people mentioned many things in line with the spirit of the report including restructuring of the coal and steel industries
the study showed that total grain use under the adequate certificate scenario would exceed the zero certificate scenario by 112 pct
the report did not disclose a price for the sale of gelcos canadian unit
if you want my objective view i dont expect a drastic improvement in our trade imbalance
shr loss 112 dlrs vs profit one cts net loss 17 mln vs profit 8000 dlrs revs 318 mln vs 421 mln year shr loss 51 cts vs profit 57 cts net loss 780000 vs profit 876000 revs 1178 mln vs 1173 mln note1986 4th qtr includes loss of 911000 for termination of licensing agreement and loss of 319000 dlr for termination of womens wear operation
avery inc said the company will not show a profit in the next quarter and will probably not show a profit in 1987
australia is in an ideal position to provide the supplies if the market is willing to pay a premium for a fresh young product he said
lower prices on the raw material side had also brought pressure on selling prices it added
french maize producers will ask the ec commission to grant permanent maize export rebates following the recent ec us accord guaranteeing the us an annual export quota of two mln tonnes of maize for spain over four years the french maize producers association agpm said
operating profit at the companys northwest pipeline corp unit fell 45 pct to 150 mln dlrs from lower sales
the bank forecast the shortage in the system today at around 115 billion stg
volcker urges greater exchange rate stability
yeutter is in new zealand for a two day informal meeting of trade ministers who are reviewing the uruguay round of the general agreement on trade and tariffs gatt he said he will meet the japanese delegation over the next few days but declined to discuss methods of relieving the strain between the two countries
shr loss five cts vs loss eight cts net loss 118000 vs loss 87000 sales 1765000 vs 1345000 avg shrs 2370000 vs 1070000
dixons has offered to buy about 80 pct of cyclops shares
swiss wholesale prices fell by 03 pct in february giving a drop of 43 pct from february 1986 the federal office of industry trade and labour said
shr loss 25 cts vs profit 11 cts net loss 446005 vs profit 185325 sales 24 mln vs 25 mln 12 mths shr loss 16 cts vs profit 41 cts net loss 282305 vs profit 709787 sales 101 mln vs nine mln
the strikers joined coal miners steel and oil refinery workers in spains latest wave of stoppages over wage demands
the recent rise in prices has placed producers on the alert manuel rico a consultant with the group of latin american and caribbean sugar exporting countries geplacea told 
shr 46 cts vs 55 cts net 3532000 vs 4217000 revs 54 mln vs 524 mln nine mths shr 197 dlrs vs 198 dlrs net 150 mln vs 148 mln revs 1762 mln vs 1769 mln
he said that for the us trade deficit to continue improving in the next two years we need more policy actions across the entire front of us trade relations including canada and the newly industrialized countries nics in particular he said efforts by south korea and taiwan to strengthen their currencies were still disappointing
the governments move to pare its huge financing costs by shortening debt maturities has left more room for other borrowers and sparked a lively market for treasury bills senior market analysts said
usxs subsidiary marathon petroleum co said it will raise its contract prices for eleven grades of crude oil 50 cts a barrel effective tomorrow
total capital acquires dunhill compact
american water works co inc awk sets payout
the company was producing at full capacity in 1986
gluck said the recapitalization plan will be submitted for stockholder approval at a special meeting expected in june
qtly div 22 cts vs 22 cts prior pay april 10 record march 30
business equipment production rose 10 pct in february reflecting more output of autos and trucks for business use and a recovery from strikes in farm equipment industries the fed said
borrowers from the system own some four billion dlrs in stock that could be jeopardized by the mounting losses of the farm credit system
easco offers initial sale of securities
koch described the wording of the communique from the g 7 as soft as wax bundebank vice president helmut schlesinger told in a telephone interview that the german central bank sees no current reason to change monetary course at present
jardine matheson decided to make a provision against its general trading business in the middle east in view of the continuing weakness of oil prices keswick said
corn soybeans toledo 5 und may unc 1 und may unc cincinnati 1 und may unc 1 ovr may up 2 new haven 12 und may unc 2 und may dn 1 ne indiana 10 und may unc 2 ovr may dn 1 chicago 1 2 ovr may unc 5 und may unc seneca 51 2 und may dn 1 7 und may unc davenport 61 2und may dn61 2 61 2und may dn11 2 clinton 5 und may dn 3 ua cedar rapids 11 und may dn 3 13 und may dn 2 hrw wheat toledo 58 lb 35 ovr may up 1 chicago 57 lb 25 ovr may unc cincinnati dp 10 ovr may unc ne indiana dp 8 ovr may unc pik certificates 103 104 pct unc dn 2 nc no comparison ua unavailable unc unchanged dp delayed pricing
the new privately held company named honeywell bull is 425 pct owned by honeywell inc 425 pct by bull and 15 pct by nec the new company said
he declined to give figures
any dollar purchases by the bank today were for purely day to day purposes they said
scott scot declares first payout
atico financial corp atfc 4th qtr net
fees total 2 1 4 pct and listing will be in luxembourg
for the developing countries the gross domestic product another measure of economic growth was expected to fall to 30 pct from 35 pct last year
this favored opecs attempts to stabilise prices as the lower the price the more likelihood there was of non opec marginal production shutting down
zambia stops sending copper through south africa
the main reason fo the fall in turnover was the lower rate of the dollar the company said
blue gass breeders blgr completes acquisition
however reagans remarks had only a short lived bullish impact on the gold price which is now stabilising at 40910 60 dlrs dealers said
hong kongs broadly defined m 3 money supply rose 14 pct in february to 61559 billion hk dlrs from january when it rose 22 pct the government said
redstone was not available for comment
the remaining 500 billion yen will yield 38990 pct in a 31 day repurchase pact maturing on may 2 they said
the government should instead seek ways of making the best use of its fiscal policy he told a press conference
and poehl noted that the dollar mark parity was unchanged since february 22 without the bundesbank having had to sell marks to support the dollar
gmac to launch euro note program april 7
dub said the offering sold out quickly mostly to institutional investors
gold futures rallied partly in response to strength in the silver market on the commodity exchange in new york
on march 18 the company said it engaged tucker anthony to seek purchasers of its operating units greenville tube corp and md pneumatics inc
this has resulted in reduced hydro electric power causing shortages to industry and households
meanwhile idd information services said the 30 day corporate visible supply fell to 329 billion dlrs last week from 398 billion dlrs in the previous week
he said brazils current quota reflects the reality of the market allows for an orderly supply and satisfies demand but added more clarity was needed to assess the criteria that determined it
michael landes a major stockholder in unitel video inc said he has asked the company to consider liquidating or selling some or all of its assets
they are making major moves to becoming a full scale member of the world economy he told the house appropriations subcommittee which oversees his agencys budget
north american communications weighs possible sale or merger
output at both sites has been shut down since the production and maintenance workers along with about 600 office and technical workers went on strike may nine
mellon bank corp is raising 150 mln dlrs via an offering of deposit notes due 1992 with a 745 pct coupon and par pricing said sole manager first boston corp
the nordic investment bank is issuing a zero coupon 100 mln australian dlr bond due april 24 1992 priced at 53 1 2 pct for an effective yield at launch of 1333 pct lead manager chemical bank international ltd said
coming as it does when san miguel corp and ucpb have reached agreement on the price of the shares and the method of payment this suit is in direct contravention of the governments expressed desire to reach an amicable settlement of the controversy by april 15 the statement added
shr loss 24 cts vs loss four cts net loss 874986 vs loss 56182 revs 402855 vs not available note the company made its initial offering in march 1987 and before then had been a development stage company so no sales were posted in 1986
yeutter in new zealand for informal gatt ministerial talks told bilateral trade disputes are increasing because the multilateral system is inefficient
franco nevada says stock rise due to drilling
qtr ends jan 31 shr nil vs nil net 2213 vs 16288 revs 1418019 vs 795522 avg shrs 6650000 vs 4150000 nine mths shr two cts vs three cts net 118984 vs 103384 revs 4066605 vs 2741241 avg shrs 6650000 vs 3969444
prime medical services inc said merger talks with national hmo corp nhmo have been terminated
analysts polled by said the forecast budget surplus was even more positive than the most bullish analysts forecasts and that this was good news for financial markets
arrivillaga said the first priority for the government would be to tap domestic sources of financing for the land transfer but external assistance could be brought in if there were gaps
the securities industry association backed a variety of restraints on insider trading and hostile corporate takeovers and asked congress to define insider trading in law
sayam president waree havanonda told reporters last month her bank posted a loss of more than 400 mln baht in 1986
net is after tax 704 mln dlrs vs 382 mln interest 252 mln vs 114 mln depreciation 243 mln vs 123000 and minorities 341 mln vs 291 mln but before net extraordinary loss 821000 vs nil
from its dallas headquarters pizza inn said completion of the transaction is subject to certain conditions including that the price of panteras stock average not less than seven dlrs during the 20 trading days before the merger
imports of soybeans would be unaffected because they are imported primarily to satisfy the ecs cakes and meals requirements which are not covered by the stabilising system
the bonds will be listed on the amsterdam stock exchange
lord young the employment minister said there appeared little doubt the monthly fall which has been running at about 20000 will continue
17 american will pay 15 dlrs a share for the outstanding stock of aci holdings
state department spokesman charles redman told reporters we have urged both sides to exercise restraint and avoid any actions which might exacerbate the situation in the light of the most recent developments we are consulting with the parties and with other interested allies on means to reduce tensions he added
the advantages the state promises grain growers actually yield tangible profits for them and are not siphoned off by intermediate agencies because of bureaucracy or corruption
however fixed charge coverages will remain very thin until the companys markets improve d and p said
the bills replace maturing paper worth 23442 billion lire of which 20321 billion lire is in the hands of market operators and the remainder with the bank of italy
this would be a moderated version of his earlier plan to force a mandatory ten per cent annual cut in the trade surplus with the united states by japan south korea taiwan west germany and other countries with the largest trade imbalances
franklin resources inc ben qtly dividend
the speculative selling did not reflect economic fundamentals and since the fundamentals had not changed only a reaffirmation of the goals of the paris accord was needed he said
that affected 600 mln dlrs of debt
german net currency reserves rise 500 mln marks to 870 billion in week
qtr ends jan 31 shr two cts vs two cts net 78537 vs 72364 revs 626942 vs 640030
the sources speaking ahead of a meeting later today between brazilian finance minister dilson funaro and his west german counterpart gerhard stoltenberg also believed brazil should come up with a convincing economic recovery program
the council of ministers approved petroleos de venezuelas planned purchase of a half interest in the champlin petroleum refinery at corpus christi texas government sources said
the company noted its petition covering the product and its safety evaluation were submitted to the fda last month
the investment in shearson lehman a growing firm described by some analysts as the top us retail brokerage will give nippon life a ringside seat and possibly lower commissions on wall street where it invests an increasing percentage of its assets of 902 billion dlrs they said
bp now owns 55 pct of standards stock
this was due to the lacklustre performance of the us economy the continuing us trade deficit and japanese delays in announcing an economic stimulation package
taiwan is expected to boost agricultural imports from the us and europe in calendar 1987 to help balance trade the council of agriculture said
horn and hardart co said it disposed of 33 bojangles chicken n biscuits restaurants in florida as part of its previously announced retrenchment of its bojangles subsidiary
the mines capacity is 2000 tonnes a month
the export duty and gazetted price of palm kernel stood unchanged at 19115 and 95575 ringgit per tonne respectively
venezuela would lend 50000 barrels per day of crude for a total of up to to 75 mln barrels to help ecuador meet export commitments espinosa said
it said it was confident the offer will be reviewed favourably
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
the effective rate including a central bank levy for transactions in the coming week was 38241 against 39246 last week
the us economy which is in its fifth year of expansion has served as a mainstay for developing country exports but it too is seen as being rather feeble this year growing by only 23 pct according to the imf
the suit alleges harcourts special dividend exceeds by more than one billion dlrs harcouts surplus available for dividends under new york law and contstitutes a fraudulent conveyance
analysts said american express and its shearson unit will benefit from the doors nippon life can open to the increasingly important tokyo financial markets
period ended may 31 oper shr 31 cts vs 29 cts oper net 552035 vs 525729 sales 367 mln vs 291 mln nine mths oper shr 108 dlrs vs 104 dlrs oper net 1931488 vs 1864075 sales 1049 mln vs 876 mln note 1986 period ended june one note earnings exclude gain on disposal of discontinued operations of 162000 dlrs or nine cts a share vs loss of 585175 dlrs or 33 cts a share in the quarter and a gain of 432000 dlrs or 24 cts a share vs a loss of 585175 dlrs or 33 cts a share for the nine months 1986 earnings exclude losses from discontinued operations of 111024 dlrs or six cts a share in the quarter and 237773 dlrs or 13 cts a share for the nine months
good domestic demand higher operating earnings and a strng export business probably benefitting from a lower dollar and effects of reduced imports in chemicals will continue to aid du pont he also noted that energy earnings in the first quarter are better than expected because of the rise in crude prices
but i have not received too many inquiries by prospective buyers lately either traders said debt securities of us banks that are perceived by investors to be heavily exposed to latin american debtor nations declined moderately in price last week
ghana cocoa purchases slow
the minimum issue unit will be 100 mln yen and maturities will be from 30 days and six months they said
proceeds from the offering together with about 50 mln dlrs in bank borrowings will be used to repay or redeem financing incurred in connection with the takeover it said
cnn also said it reached an agreement with televerket kabel tv of sweden to broadcast 24 hour news on its cable tv network
redemption at maturity is at par when 50 pct will be paid in australian dlrs and again the investor will be able to opt for the balance in one of the two currencies
iranian prime minister mir hossein mousavi is currently in damascus and diplomats said he would seek syrian help in preventing a total arab breach with tehran
us commerce depts ortner says dollar fairly priced against european currencies
illustrating the point the official said a south korean firm recently agreed to sell a drilling platform worth 40 mln dlrs to the state run oil and natural gas commission
local broking houses have been contributing a 0125 pct levy on share transactions to the scheme but will no longer do so the statement said
qtly div 35 cts vs 35 cts prior payable march 31 record march nine
taiwans foreign exchange reserves swollen by strong trade surpluses to a record 53 billion us dlrs are becoming a problem government officials said
but bijan moussavar rahmani of harvard universitys energy and environment policy center said that the demand for opec oil has been rising through the first quarter and this may have prompted excesses in its production
full year results exclude extraordinary and other items which raised final 1986 net to 237961000 dlrs or 187 dlrs per share and 1985 net to 152049000 or 129 dlrs per share
novell novl sets two for one stock split
unocal ucl raises crude oil postings
bombay high accounted for 2061 mln tonnes marginally up from 2010 the year before
echo bay said it encountered gold in 39 of 42 drill holes at cove
company began operating january 27 1986
but it is likely to miss contracts to power the proposed airbus industrie a340 aircraft
mulford said his menu of options could include more trade credits direct portfolio investments debt equity swaps project loans co financings and the invesmtent note concept which has been proposed by the philippines
liquor sales were limited with march april selling at 2325 and 2380 dlrs june july at 2375 dlrs and at 125 times new york july aug sept at 2400 dlrs and at 125 times new york sept and oct dec at 125 times new york dec comissaria smith said
lenz are offering to acquire becor for 1550 dlrs per share subject to becors receipt of at least 110 mln dlrs from the proposed sale of its western gear corp subsidiary
leonard chavin a chicago real estate developer who has said he is considering seeking control of le myers co group said he raised his stake in the company to 273100 shares or 121 pct from 219600 or 97 pct
the deal is expected to close in the second quarter the bank holding company said
greece buys 55000 tonnes french maize trade
earlier today in washington us television networks had reported that american forces launched a retaliatory strike against iran late sunday attacking two iranian offshore oil drilling platforms and setting them ablaze
the final tranche totals 6549 mln dlrs of bonds due 2011
pegasus said it began mining and processing operations at its zortman landusky mine one month ahead of schedule
seoul announces more tariff cuts for us 
lower prices and the desire to delay any big purchases until the condition of winter and spring crops is better known make new crop wheat more attractive said george hoffman director of commodity analysis for the pillsbury company
oper shr loss 20 cts vs loss 19 cts oper net loss 7001000 vs loss 6761000 revs 930 mln vs 906 mln avg shrs 352 mln vs 348 mln year oper shr profit 10 cts vs profit 65 cts oper net profit 3419000 vs profit 226 mln revs 3817 mln vs 3850 mln avg shrs 338 mln vs 349 mln note net excludes debt retirement gain 2001000 dlrs vs loss 316000 dlrs in quarter and losses 159 mln dlrs vs 1714000 dlrs in year
allied lyons maintains control of hiram walker gooderhams board of directors and has total responsibility for its management
the new forecast is still higher than last seasons record total production
first boston is co lead underwriter with morgan stanley and co of the debentures which will be convertible into union carbide common at any time prior to maturity unless previously redeemed
all equity and fixed investment flows of foreigners take place through the financial rand which is considered the main barometer of south africas attractiveness to overseas investors
senior us bankers are seeking to calm the furore in the philippines caused by the terms of argentinas new financing package but a source in new york close to the manila government said finance minister jaime ongpin is in no mood for compromise
dart group corp said it told supermarkets general corp sgl it was flexible on the price it would pay to acquire the company
meanwhile usda handbook 8 10 long used as the established authority on nutrient composition indicates a fat content for center loin pork of 73 pct the nppc said
at the seamens national strike headquarters in rio de janeiro spokesmen say a total of about 190 ships are strike bound in brazil and in foreign ports
but banking sources said the new regime from april 1 will mean banks cannot afford not to hold treasury bills in case they need funds from the central bank
the cpb forecast 25 pct export growth in volume terms in 1987 after four pct growth last year
it also had some effect in undermining the banks role in the global debt strategy the sources said
but the fact that overall broad money growth has slowed down is a rather encouraging sign noted paul temperton uk economist with merrill lynch capital markets
malaysian miners say us selling too much tin
robertson ups capital wire cwcc stake to 12 pct
it accepted 66 billion dlrs of bids including 21 billion dlrs from the federal reserve and 180 mln dlrs from foreign and international monetary authorities
the leaders of two of japans top business groups said in separate statements the group of seven g 7 accord reached in washington yesterday is of deep concern to japan because it shows the major industrial nations regard the yens current level as appropriate
italy m 2 up 28 pct in 3 months to end january
most of the suppliers stayed with us as long as they could elton said
trade sources said supplies had improved in the past week but prices had hit their lowest since last december
oper shr 29 cts vs 22 cts oper net 39 mln vs 18 mln year oper shr 63 cts vs four cts oper net 101 mln vs 855000 note excludes gain one ct per share vs loss two cts in the quarter and gain 41 cts per share vs gain six cts in the year from investments
williams cos wmb completes sale of unit
the officials said that when the plaza agreement took place the dollar was already on its way down
however it added in a statement that the company made major capital gains on sales during the year in particular from the sale of genstar shares
their problems are not just limited to energy
the italian treasury said it would offer 2500 billion lire of indexed government discount certificates at rates slightly higher than on the preceding issue
hayes albion corp said its shareholders approved a plan to merge with and become a wholly onwed subsidiary of privately held harvard industries inc
indonesia cuts july crude supplies to japan
at a meeting of the northeast midwest coalition an organization of us legislators david cooke chairman of the ontario parliaments select committee on economic affairs said the exemption would help trade relations
all exports must be completed by september 30 1987
this would mean an expensive exercise right on the edge but not impossible he added
domestic imports last week were 24774
qtly div 20 cts vs 20 cts prior pay june one record may 15
the ccc accepted three bonus offers from one exporter which averaged 4088 dlrs per tonne it said
the lme board in response to representation from the trade agreed to annul from lme contracts the minimum weight requirements of 450 kilos for t bars and 250 kilos for sows effective for high grade on june 1 and for standard on july 24
analysts generally average the sales results of march and april to account for the variation of easters occurrence
the 141 mln dlr ida loan to rwanda will help finance tropical forest conservation projects and a reforestation program the bank said
the effect of this issue on the market should not be as bad as what happened after the dkb and morgan deals despite the criticism bankers said cdfc still managed to recruit more than 10 underwriters though the composition of the group has not yet been finalised
lawson says his sterling target comments were misunderstood and insignificant
replanting is uneconomic and replanted tropical hardwoods have less than a 50 pct chance of survival
twa last week said it owned 15 pct of usairs shares
the limit on foreign assets as a proportion of japanese insurers assets was increased to 25 pct from 10 pct last year
oper includes charge of 11 mln dlrs for cumulative effect of repeal of the investment tax credit for qtr and writedown of 216 mln dlrs on gas and oil facilities for 12 mths
crazy eddie inc said its board will not oppose the slate of nominees proposed for election to the board by the committee led by entertainment marketing inc em and the oppenheimer palmieri fund lp
american farmers would continue as working tenants and part of the profits from harvests of rice corn soybean and oranges would go to the japanese investors as rental
subscriptions to 250 mln guilders were fully met amounts above 250 mln at 30 pct
ec euratom french franc eurobonds expected
merry land said it filed a registration statement with the security and exchange commission
brazil wants to resume interest payments on its medium and long term foreign debt as soon as possible and is willing to discuss ways of softening the impact of the payments suspension on bank earnings central bank governor francisco gros said
however the oecd study results are controversial because they highlight the levels of assistance to farmers officials familiar with the study said
the demand deposit component of m 1 dropped in january by 467 billion dlrs from 479 billion in december and compared with 389 billion in january 1986
shr loss 12 cts vs loss three cts net loss 646000 vs loss 96000 revs 9414000 vs 9899000 avg shrs 5382833 vs 3722833 note converted using dec 31 exchange rate of 4005 belgian francs to the us dlr
they said the reduction brings exxons contract barge price to 4325 cts
he also said that analysts estimates of 155 dlr per shr for 1987 are not crazy payless reported net income of 122 dlr per share in 1986
the company said the moves were part of its reorganization plan and would help pay current operation costs and ensure product delivery
a swiss bank economist said he believed the markets were ready for a period of mainly sideways movement but milan dealers were sceptical about the communique contributing to greater stability
shr profit nil vs loss two cts net profit 39617 vs loss 200740 revs 619076 vs 491085 nine mths shr loss nil vs loss five cts net loss 68293 vs loss 434087 revs 1614960 vs 1791148
he noted the firm last year sold interests in airfreight operations australian properties and trucking business and its remaining us oil and gas activities
the combination of republics 459 mln dlrs in assets with pioneers 125 mln dlrs would make the new holding company the fifth largest savings and loan organization in wisconsin they said
it said the sharp decline in oil prices during 1986 was the most significant factor for norcens reduced performance
that tender originally only sought two to three cargoes but resulted in the sale of eight
if we cant find any opportunities here we may have to look abroad if we look abroad the structure of the company becomes very important keswick was quoted as saying
pharmacia ab said it was launching a 200 mln dlr eurocommercial paper programme as part of a move to internationalise the companys financing
fuqua industries inc fqa sets quarterly
caesars currently carries b 1 convertible debt and the finance has same rated subordinated debentures
british land convertible bond raised to 33 mln stg
central bank president jose luis machinea said negotiations with creditor banks on argentinas 30 billion dlr private sector foreign debt were difficult
american woodmark corp said it plans to build a 100000 square foot kitchen cabinet component plant in toccoa ga with completion expected in the spring of 1988
inspectorate requires funding to finance its purchase of a 51 pct stake in harpener ag a diversified west german group and other recent acquisitions
katz chairman since 1985 will remain a board member
farmers have switched to cash crops such as sugarcane bananas oranges papaya and freshwater fish farming in part to supply major consumer markets in hong kong and macao the magazine said
it said it may buy additional shares but had not decided whether to offer its shares in response to a tender offer by sunter acquisition corp a unit of first boston inc
experts say the government must also make it easier for banks gradually to write down their third world loan books
it said the acquisition will increase shareholder equity in american aircraft to 45 cts per share from 18 cts per share
kaufman and broad inc kb 1st qtr feb 28 net
peter miller plans 22 mln dlr debenture issue
brazils other major crop cocoa is in its third year of surplus
canada plans new bond issue april 14
conable who has just completed his first year as head of the world bank said the banks mission remains the development of third world nations
conable a former congressman from new york appointed by president reagan to the senior most position at the bank nearly a year ago has taken the view that the bank badly needed to be reorganized and perhaps made more streamlined
new zealand retail sales slow in january
raven industries rav buys truck body business
mining output fell one pct in 1986 but manufacturing production increased 14 pct
in the short term the kingdom can lessen the impact of lower oil revenues and a gaping budget deficit by drawing on foreign reserves still put at around 100 billion dlrs
the central bank last night raised the requirement by one percentage point to 19 pct from march 13 saying that excess liquidity threatened money supply and inflation targets
for the year ago quarter the company earned 22 cts a share adjusted for a three for two stock split on revenues of 242 mln dlrs
nationwide one out of five banks reported losses the fdic said in the first of a new series of quarterly banking profiles it planned to issue
burmah oil profit climbs to 1059 mln stg
prudential bache analyst larry eckenfelder said he doubted the speculation about american express
gephardt a missouri democrat has not decided the exact form of his amendment an aide said
it said 200 mln dlrs of the equity would be in the form of special preferred stock
estimates ranged from 560 mln to 630 mln acres of soybeans and 595 mln to 680 mln acres of corn
he gave no further details of the change
it said the purchase price was 1250000 dlrs which was paid by cash and stock
we are not here to dictate to them he stated
it said the sale involved assets and operations of the general line of steel service centers in toronto and edmonton alberta and steel from inventories of closed amca branches
al wattari said an 18 dlr a barrel price was optimal as it allowed investment in the oil industry outside opec to continue while not generating excessive cash flow for otherwise unviable high cost areas outside opec
shr 514p vs 564p div 110p making 174p a 10 pct increase on 1985 turnover 314 billion stg vs 265 billion pretax profit 1822 mln vs 1505 mln tax 538 mln vs 235 mln note comparisons restated
zehntel inc zntl offering of 135 mln dlrs of convertible subordinated debentured due 2012 through sutro and co inc
porla crude palm oil trade report for april 2
the fledgling private sector was hard hit by the middle east recession as early as 1983 and several big manufacturing and trading companies ran into problems repaying loans
world telecoms watchdog relaxes car phone rules
in addition the state faces the problem of inadequate investment by farmers in land and in grain in particular
the suggestion is contained in the preliminary conclusions of the annual imf consultations with belgium on its economic policy a copy of which was distributed to journalists at the weekly press conference following meetings of the cabinet
but the sources forecast supplies from argentina may fall to 400000 to 500000 tonnes from an anticipated 800000 in calendar 1987 and from south africa to 700000 to 800000 tonnes from an estimated one mln in light of tighter export availability
the issue involved was launched in 1984 and matures on november 15 2004
london stock market analysts specializing in brewery shares viewed a bid from bond which they said has assets of around two billion stg as highly unlikely
the january 1987 figure represents a fall over january 1986 of 17 pct after a year on year decrease in december 1986 of 25 pct
in april last year m 3 stood at 7464 billion rand
some 110000 head have been transferred to the sugar cane conditioning centers where newly harvested cane is cleaned before being sent to the mills
the companys 1987 program of diamond drilling underground drifting and metallurgical evaluation is scheduled to start on april
market sentiment is being influenced more by the colder weather in europe and reports that opecs february output was below its self imposed quota of 158 mln barrels per day
shr profit nine cts vs loss two cts net profit 1419000 vs loss 314000 revs 8097000 vs 4794000 avg shrs 158 mln vs 155 mln year shr profit 37 cts vs loss 10 cts net profit 5695000 vs loss 1268000 revs 409 mln vs 4794000 avg shrs 156 mln vs 125 mln note company began operations nov 17 1985
on wednesday when net borrowings were 136 billion dlrs and fed funds averaged a high 645 pct money center banks accounted for more than 90 pct of the borrowing
salomon noted that the issue carries the lowest spread over libor of any cmo issued in the euromarkets to date
gaf said it wanted to discuss with the borg warner board key roles for borg warners senior management in the new organization board representation for borg warner directors on a newly constituted board and a company name change
the energy department study discusses several options to curb reliance on foreign oil but makes no recommendations
the party said the governments decision also had the support of all sectors of society including the governors of 22 brazilian states
also ipma members will be required to register with the association of international bond dealers as reporting dealers submitting daily information on prices on issues in which they are market makers
kuroda said on leaving tokyo today he had no new proposals but did have an explanation of the semiconductor situation
he also cited a 23 mln dlr cost as a result of a closing two of its subsidiarys ferry services and a 103 mln dlr provision to cover losses on the sale of container assets and severance pay costs
shared medical systems corp smed sets payout
gpu gpu sees tmi 2 fuel problems resolved
cut were the debt ratings of allied bancshares inc albn first amarillo bancorp inc fama mcorp m and texas american bancshares inc txa s and p cited continuing asset quality problems
there are no more survivors from a british cross channel ferry disaster off the belgian coast and almost 200 people seem certain to have perished a senior belgian official said
us company earnings highlights
but foreign ministry officials said foreign minister tadashi kuranari said that british exports to japan are increasing but acknowledged the continuing imbalance in trade
the sources said french traders planned to sell 775000 tonnes into intervention stocks west german traders 7500 tonnes and dutch traders 2500
the apparently illegal trading activity took place away from merrill lynch through another broker dealer and involved the employees use of information which was properly available to him but improperly used the statement said
in reporting that first half results declined from 650 mln dlrs minorco said the contributions from its 50 pct investment in december 1985 in adobe resources corp was negative as a result of low oil and gas prices
the budget has been delayed by opposition boycotts of parliament to protest government plans for a new sales tax
frawley said the 1986 sale contract had included a barter provision but iran had paid in full in cash
redstone also said viacom is committed to working very closely with us to obtain approvals viacom has been seeking approvals for transfer of its broadcast licenses and cable systems since september when its management group first advanced a buyout plan
the panama canal commission a us government agency said in its daily operations report that there was a backlog of 30 ships waiting to enter the canal early today
net tangible assets at end september were 363000 dlrs
bpi president and chief executive officer david r
the situation has again raised the question of whether intervention can succeed against the trend in todays huge currency markets
the acquisition will be satisfied by an initial payment of some 253 mln dlrs in cash with further payments of 500000 dlrs up to a maximum 263 mln dlrs
officials said plans to buy 240000 tonnes of basra light from iraq have not been finalised yet because of several constraints
the results were broadly in line with analysts forecasts and the companys shares firmed in morning trading to 421p from 413p at fridays close
there can be no assurance that there will be further discussions with jacobs or that any agreement will be reached the company added
those banks have taken a hard line in the negotiations because of americas strong anti apartheid policies
it said the government had launched a national programme to reduce waste calling for improved technology in storage and preservation and greater production of additives
fiduciary trust co international said its shareholders at the annual meeting approved a five for one stock split effective may 15 1987 to holders of record on april 15 1987
rha leaves today for ottawa for trade talks with canadian officials and businessmen
saudis drop condition for oil sale to brazil
subscription closes friday march 20 payment date is april 15 listing will be on the amsterdam stock exchange
clausen said despite improvement in the past quarter bankamerica must do more to improve its capital ratios
it said the dollar is poised to resume its decline in foreign exchange markets and will lose a further 13 pct on its trade weighted index this year and five pct in 1988 after last years 184 pct drop
m 1 grew a mere 500 mln dlrs in the week to march nine compared with private forecasts of a 23 mln dlr rise
claims on the imf rose 114 billion francs to 1897 billion including a 385 mln franc increase in frances reserve position with the imf and a 751 mln franc rise in holdings of special drawing rights
the critical variable remaining in the market is the value of the dollar kahan said
i would like to suggest that the bank use more freely the range given to the guilder in the ems nelissen said at the presentation of amros 1986 annual report last week
net profit per nominal 250 guilder share 579 guilders vs 567 corrected for capital increase
us monetary officials may refrain from making any comments this month to avoid influencing rates they said
we are determined to stand firm by the december accord he said
hokanson said conrac has conservative finances and has developed a reputation for quality products that serve niche markets
dart said likely supermarkets general suitor
italy shows september overall payments surplus
beneficial bnl unit sale approved
ferruzzi deal with cpc worth 630 mln dlrs
political leverage may get the total foreign share up to a certain amount but you wont find any one company with an extraordinarily large holding whitten said
cnw cnw sells bonds
paradoxically the new zealand dollar could rise in the medium term despite lower interest rates as overseas investors became more confident about investing in new zealand he said
average daily reserves over the first 20 days of the month fell to 526 billion from 531 billion
ampal american israel corp aisa year net
both nicho and resler left their end june prime rate forecast at 7 1 2 pct
i dont think we shall be looking at the brewery scene which is highly concentrated already he added
he was reacting to comments by local economists who said manilas debt accord was no better than mexicos which was a 20 year repayment including a seven year grace last year at 13 16 points over london interbank offered rates libor the philippines clinched a repayment of 17 years including a grace period of 7 1 2 years on 103 billion dlrs of its total debt of 278 billion
present management is expected to continue to operate lieberman the company said
the measure however does not require president reagan to comply with the 1973 war powers act as does a related senate bill
the bonds due april 2 1992 are available in denominations of 5000 and 10000 dlrs and will be listed in luxembourg
two farm state congressmen pat roberts r kan and glenn english d okla said cargo preference makes us farm export programs more costly and the program should be eliminated
he said some banks might want to hold out for a higher price but others would see the repurchase offer as a window of opportunity to cut their losses
he told reporters the committee would likely mount a campaign to fight the legislation when it comes up for debate on the senate floor expected next week
yeutter was responding to a question about what the us could do to encourage appreciation of those currencies against the dollar in order to reduce the large us trade deficits with taiwain and korea
in an unusual move standard and poors corp downgraded a us corporate debt issue soon after it was priced for offering late last week
baltek corp btek 4th qtr net
finally some industry sources said that by buying the minimum amount of corn guaranteed under the us ussr grains agreement four mln tonnes the soviet union may be hoping to convince the usda to offer moscow a subsidy on wheat
the options can be exercised at 10 dlrs a share until december 31 1987 then at 1250 dlrs a share until december 31 1988 and then at 15 dlrs a share until december 31 1989
in the process prices collapsed from about 28 dlrs a barrel to below nine dlrs until the organisation decided to cut production again from last september onwards
he added he does not expect the yen dollar exchange rate to remain unstable because the market is concerned about a sharp rise of the yen
digitech inc dgtc 1st qtr jan 31 net
toshiba said the introduction of the products indicated its commitment to the uk although the market was competitive the facsimile segement was showing excellent growth
us imports of gold in december were 692700 ounces vs 2011754 ounces in november and 611811 ounces in december 1985
the payment was in all the circumstances reasonable proper and fully earned
citibank and other banks could then decide to stop financing the countrys export credits the funds countries use to support their daily activities leading to an economic breakdown
this means that any possible compromise would centre on the reference price and the may buy or may sell and must buy or must sell levels without changing the lower indicative price which is set at 150 malaysian singapore cents in the current pact
bayernverein expects unchanged dividend for 1987
the company also said a regular quarterly dividend of 16 cts per share on the pre split shares will be paid may 22 to shareholders of record may 1
national royalty corp nroc 4th qtr loss
but proponents of an expanded 0 92 argue that the bill currently is not equitable for all grains producers so it should be extended to other crops
two hundred feared dead in ferry disaster
the money has been spread out over more than 100 loans and about 12 billion dlrs remains undisbursed
dreyfus a bonds plus inc monthly payout
japan is the largest customer for us farm products and it is not reasonable for the us to demand japan liberalise its farm import market he said
following todays tender the fourth state loan for payment in 1987 a nominal 1055 billion guilders has been raised by public issues bringing the total raised this year to 1855 billion guilders or some 442 pct of the states 1987 borrowing requirement
it has been the intent to set the dividend at a level so that it could be sustained through the ups and downs of the business cycle olson told a meeting of securities analysts
x includes imports
sosnoff said it has extended the tender until may 15
the venezuelan minister said opecs production reached a peak this year when it went over 19 mln bpd in august
redstone also raised the face value of the preferred stock he is offering to 750 dlrs from six dlrs
nakasone has insisted that the government would not draw up a package of short term economic measures until after its 1987 88 budget passed parliament because he feared that would amount to a tacit admission that the budget was inadequate
reynolds said the board reached its decision to reject the offer after careful study with legal and financial advisers
ordinary expenditure 9697 mln marks vs 9097 mln
but he said the us would not lift the selective economic sanctions it imposed on japanese imports in april until tokyo changed its sales policies concerning computer microchips
year 1986 and year prior excludes loss 62216 dlrs and gain 281367 dlrs respectively for discontinued operations on lebanon sale
this has not been good for coffee producers more so in a situation where the prices dropped by 200 pounds per tonne of robusta coffee j
analysts said the national distillers spirits company which makes gilbeys gin and vodka old grandad and old crow whiskey is not quite the type of acquisition they envisioned
we had a buy on it below 20 but when it gets to 28 let somebody else have it he said
shr 61 cts vs 55 cts net 695252 vs 633329 loans 1252 mln vs 899 mln deposits 2092 mln vs 1729 mln assets 2455 mln vs 2075 mln
the group said its representatives had met with fairchild industries officials to inform them that they do not believe management has been successful in enhancing or protecting shareholder values it said it was considering the additional share purchases to enable it to assert a greater degree of influence over the future management and policies of the issuer it said a decision on the specific level of share ownership it would seek depended on market prices future changes in management policies available financial resources and other factors
the gmac financing seemed tailor made for those retail investors commented one underwriter away from the syndicate
the full ico council is due to meet this evening
rowntree seeks 200 mln stg facility cp program
we must do it quickly or face retaliation from washington he said
standard and poors corp said it is keeping gencorp incs 100 mln dlrs of bb plus subordinated debt on creditwatch with negative implications
the company also said its richmond hill gold and silver deposit in the carbonate district of western south dakota has been shown by drilling to contain about 3900000 tons grading 0055 troy ounce of gold and 023 troy ounce of silver per ton
eastpark realty trust ert qtly div
june bonds closed at 100 4 32 today
shr 177 dlrs vs 60 cts net 582 mln vs 194 mln revs 3774 mln vs 1880 mln nine mths shr 310 dlrs vs 151 dlrs net 1003 mln vs 506 mln revs 111 billion vs 6397 mln note 3rd qtr 1987 net includes about 3000000 dlrs after tax extraordinary gain on retirement of debt
national city bancorp ncbmo 10 pct dividend
taiwans foreign exchange reserves hit a new high of more than 51 billion us dlrs on march 4 compared with 50 billion in mid february and 251 billion a year earlier the central bank said
fob exports in the first 10 days of june rose 176 pct from a year earlier to 605 billion dlrs while cif imports rose 396 pct to 444 billion
farouk said the ability to manage inventories on the basis of predictable stable prices is a vital consideration for multinational tire companies whether or not consuming countries as a whole claimed to be no longer so seriously concerned about security of the rubber supply he said producers considered that the 1979 agreement had served the purpose for which it was created
neco npt bidder extends tender offer
maturities on another 86 billion dlrs of loans granted in 1983 and 1984 will remain the same
japan foreign shipbuilding orders fall in may
dole also said it would be a very close call in the senate whether to open up the farm bill to general debate this year
the change also improves receptivity in the market for other borrowers including provincial governments the big utilities and corporations
cut were its senior debt to ccc plus from b minus and subordinated debt to ccc minus from ccc
world bank official says bolivia should seek growth
plum holding inc said it has started its previously announced offer to purchase 664400 common shares of holly sugar corp at 95 dlrs each
the proposal involved three key principles
the items for which prices were frozen included rice sugar cooking oil potatoes salt wheat flour cigarettes soft drinks school supplies and several kinds of vegetables
they are giving us the benefit of the doubt and i think they would like to leave the money here buttrose said
it said 173000 people were unemployed in december 1986 174000 in november and 157000 in december 1985
the sunflower harvest advanced to between seven and nine pct of total planted area
yesterday arco said the proposal had not yet been presented to its board
based on estimates of a larger work force block could show a gain of more than five pct in tax forms prepared he said
mine safety appliances co said it agreed to sell its filter products division to donaldson co inc dci for undisclosed terms
hata speaking at the first session of the two day meeting said agriculture is no exception to the goal of restructuring the economy but did not elaborate
groundwater technology inc gwti 3rd qtr jan 31
adjustment loans could rise to 30 pct of total world bank loans in the near future though maybe not this year conable told after his speech
fees are 1 1 4 pct for selling 3 8 pct for underwriting and 1 4 pct for management including a 1 8 pct praecipuum
bangladesh cost of living index falls in january
the economy ministry says it aims to keep the public sectors budget deficit to between five and six pct of the gross domestic product gdp last year the deficit was six pct of gdp according to the central bank
uganda plans to export roasted coffee to europe by the end of 1988 a prominent local businessman said
jones and vining makes shoe lasts and shoe components
output in 1987 is expected to reach around 45 mln tonnes unchanged from 1986 because of drought low use of fertiliser and overstressed palms they said
chrysler corp said it valued its proposed buyout of american motors corp at 757 mln dlrs not counting the effect of a contingent payment that could reach 350 mln dlrs based on amcs future profits
us bank discount window borrowings less extended credits averaged 361 mln dlrs a day in the week to wednesday april 8 the federal reserve said
diw said the crucial split was between weak demand for capital goods and strong demand for buildings and consumer goods not between foreign and domestic demand
saudi arabia will succeed in pressuring other members of the organization of petroleum exporting countries to stay within their production quotas said morgan stanley group managing director john wellemeyer
imports from the united states are estimated at 15 mln tonnes compared to only 150000 tonnes estimated for the 1986 87 year it said
british manufacturers expect output to grow rapidly in the four coming months a confederation of british industry cbi survey shows
little progress was made in last nights three hours of talks with both sides largely reiterating their positions
eleven contracts were terminated after no oil was discovered
tocom also has five rubber trading sessions a day
american realty trust said its board has set april 3 as the record date for its previously announced rights offering and the rights will be issued on april 6 and expire may 22
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting pays 3 8 pct
the debentures due 1998 were issued in 1984 and were zero coupon notes for the first five years
the ministers were also due to discuss proposals in the us congress for a range of protecionist legislation such as a bill that would curb ec textile exports
the proposed increase in procurement of foreign goods by the government will probably include the purchase of super computers ldp officials said
zambian late 1986 copper output up sales down
may 31 end shr 27 cts vs 14 cts net 5664000 vs 2812000 revs 682 mln vs 547 mln avg shrs 21254054 vs 20167714 note first quarter report
the broad range of the cost estimate is partly attributable to the different effect certificates can have on market prices over the course of a crop year
european community finance ministers and central bankers meet in belgium this weekend to discuss strengthening europes joint currency float amid continuing worries about turbulence on foreign exchanges
negotiators were trying to reach agreement on the draft of a joint declaration setting up official relations after 30 years of mutual non recognition
because the fiscal deficit has been reduced to some four pct of gross domestic product money supply could be increased to pay for the drug eradication drive without too much of n impact on inflation he added
tax 445 mln vs 465 mln
western canada hurt by international forces
production by the company taiwans largest steel maker is expected to rise to 333 mln tonnes from 327 mln a spokesman told 
petrobras sees raising export of fuel in 1987
they creditors asked for the maximum amount and we offered the minimum said one banking source reacting to reports from london that creditors were hoping for larger repayments
philippine debt pact seen as good for economy
trading in hk telephone shares was suspended on october 15
italian savings bank cassa di risparmio di roma is launching a 100 mln dlr euro certificate of deposit issuance program chase investment bank ltd said as arranger
the managing director of the international monetary fund also participated in the meeting
however food needs in central america rose worsened by drought reduced crops and civil strife
security pacific spc completes merger
mobil corp increased net proven reserves of natural gas liquids in 1986 from the previous year according to data in its 1986 annual report
in writing the bill the subcommittee rejected calls for trade relief for specific industries such as textiles
adobe adb high plains hpoc to merge
in addition some bankers would like the method of bond trading on the west german stock exchange changed to a system of continuous price setting from the current system in which every bond price is fixed once a day
lyphomed inc said it intends to file a registration statement with the securities and exchange commission covering the sale of 70 mln dlrs principal amount of convertible subordinated debentures
he told a general assembly of frances oilseeds federation ffcop that a suppression of monthly increases of oilseed support prices for example was unacceptable
deputy us comptoller of the currency robert bench said last week that us bank regulators also had no objection in principle to the pins concept because manila has guaranteed their ready conversion into cash
henley said that depending on prevailing conditions including price and availability of sante fe stock substantial developments affecting sante fe other investment and business opportunities available to henley henley may additional sante fe shares or sell all or part of its investment in sante fe
copper meeting agrees goals of study group
idea inc said it signed a letter of intent to buy privately held structural instrumentation inc
qintex said it is extending the offer to allow princeville to comply with federal law restricting the ownership of us airlines by non us citizens and to finalize the terms and conditions of the letter of credit or bank guarantee required under the previously announced acquisition agreement
saab scania ab is issuing a 150 mln dlr eurobond due april 2 1992 paying 7 3 4 pct and priced at 101 3 4 pct lead manager morgan guaranty ltd said
they say this influx is largely responsible for spains principal measure of money supply the broad based liquid assets in public hands alp to have grown by an estimated 17 pct annualised rate in february compared with januarys 83 pct rise and an 114 pct rise during the whole of 1986
they said the market already has discounted higher soviet imports partly on news last month that the soviet union bought one mln tonnes of us corn and on rumors that the reagan administration is pushing for authority to sell the soviets us wheat under the export enhancement program
altex said the denver based companies had revenues of over seven mln dlrs last year
producers and consumers indicated support in principle for the draft buffer stock rules package formulated over the past week by a small working group consumer delegates said
turnover rose to 2421 mln from 2115 mln
national heathcare inc said it signed an agreement to sell five rural hospitals to a private corporation for about 18 mln dlrs including the assumption of six mln dlrs of debt
suburban bancorp said a cook county circuit court ruled in favor of one of its companies suburban bancorp of bartlett formerly bartlett state bank on claims against six former directors
the 300 mln dlr issue is callable at par after seven years the company said
some producers can sell uncompetitively priced crudes by means of discounts processing deals or selling them alongside better priced grades in a package many opec crudes are seen to be reasonably priced at least for some part of the year
citibanks surprise base rate increase quickly followed by chase sent us bond prices lower and the dollar higher
world bank suspends loans to peru central bank
an investment partnership led by four sons of loews corp ltr chairman lawrence tisch said it cut its tosco corp stake to the equivalent of 1499985 shares or 495 pct of the total from 1666650 shares or 55 pct
rep
meston lake resources inc 653 pct owned by campbell resources inc said it will begin commercial output at its joe mann mine in the chibougamu area of quebec at an initial daily rate of 500 short tons of ore grading 015 ounce of gold per ton
the institute cautioned that the expansionary stance of monetary policy in west germany was likely to bring a marked acceleration of inflation
sun chemical is said to have 49 pct of outboard and is conducting a study on whether to bid for control of the marine engine and boatbuilding company
according to court documents payments on the loan were made until the mid 1930s when china was torn by civil war
he said in the case of brazil write offs of loans is a worst case outcome which is highly unlikely
bank of japan governor satoshi sumita said in a statement the central bank will intervene in foreign exchange markets to stabilise exchange rates if necessary in close cooperation with other major industrial nations
bankers and diplomats said it would amount to fiscal recklessness in the longer term
one dealer at a german bank said the wording of the communique made clear the leading nations did not want a further dollar drop and this was supporting the dollar
a spokesman at the national strike headquarters in rio de janeiro said today a total of l63 ships were strike bound 135 in brazil and 28 in foreign ports
if the common stock price exceeds the trusts termination price of 110 dlrs americus shareowner service said the trust will be temporarily closed until the price of the underlying stock falls below the termination price
presidential spokesman teodoro benigno said the land reform program estimated to cost about 44 billion pesos would be implemented in four phases and benefit 264 mln farmers
shr 111 dlrs vs 59 cts net 426 mln vs 222 mln sales 5318 mln vs 4074 mln nine mths shr 245 dlrs vs 127 dlrs net 937 mln vs 481 mln sales 144 billion vs 112 billion
shr 31 cts vs 27 cts qtly div four cts vs four cts prior net 114 mln vs 9905528 revs 1943 m ln vs 1717 mln note qtly div is payable april 22 to shareholders of record april three
the corporation said the spring branch fonderen and gulfway texas american banks will become separate banking offices of tab galleria
cpc international to sell stakes in asian units for 340 mln dlrs to ajinomoto
the two steelworkers locals representing the office and technical workers have not negotiated since may 21
the treasury said the 1987 88 oil revenue shortfall will reflect the oil price fall of 1986 as north sea corporation tax is paid after a time lag
but lawson in answer to a question told reporters after an informal european community finance ministers meeting here that other factors apart from the upcoming election stood in the way of full membership
kuranari said he wants everyone in the telecommunications dispute including cable and wireless to be satisfied
we see little to be gained by attempting to increase the price of a commodity whose long term trend is downward official administration policy states
the february surplus last year was 189 mln dlrs
the reserves hit a record 53 billion us dlrs last month
that was because the fed supplied far fewer reserves in the market than most economists had expected
the cme also received many negative comments many more than we anticipated melamed conceded
shr 18 cts vs 27 cts net 444387 vs 676593 revs 549437 vs 764901 nine mths shr 67 cts vs 81 cts net 1690670 vs 2031937 revs 1986938 vs 2302278 note full name is travelers real estate investment trust
besides being the sole owner of mts acquisition sosnoff owns 61 pct of atalanta sosnoff capital corps atl stock and is chairman of that investment management and brokerage firm
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 300000 to 305000 head versus 292000 week ago and 316000 a year ago
aramco corp was formerly owned by chevron corp chv exxon corp xon mobil corp mob and texaco inc tx but is now owned by saudi arabia which bought its assets although the ex partners have various agreements with saudi arabia
bigelow also said the company is comfortable with estimates that earnings will be between 375 dlrs and 425 dlrs per share for the year
transcanadas proposal amounts to a quasi debt restructuring oil analyst doug gowland of brown baldwin nisker ltd said from toronto
the dollar fluctuated marginally after the small scale intervention believed to total several tens of mlns of dlrs they said
we are solidly opposed to opening up the 1985 farm bill said dean kleckner president
international technology corp said it expects to report a loss for the fourth quarter ended march 31 of about 20 cts per share compared with a year earlier profit of 11 cts
the ministry said citibank which chairs mexicos bank advisory committee has received cables from the british banks confirming said commitment the ministry said the books on the package would be closed by mid april and the first 35 billion dlrs of the new money should arrive by the end of the month
cut were danas senior debentures industrial revenue bonds and medium term notes to a minus from a and commercial paper of dana and its unit dana credit corp to a 2 from a 1
reichhold rci exploring sale of european unit
sentiment is growing in europe that were no longer prepared to bail out the us banks he told reporters in new york this week
gunze sangyo inc of tokyo is launching a 25 mln swiss franc convertible notes issue due may 31 1992 with a coupon indication of 1 5 8 pct lead manager swiss volksbank said
diversified investment company ariadne australia ltd has offered 38 billion pesos for 38 mln shares in the philippine brewing firm san miguel a manila newspaper reported
unocal last changed its crude postings on march four and brings it price in line with other major companies which have been raising prices steadily in recent weeks
us fhl banks sets rates on debt offering
tri star pictures inc said it agreed to acquire the roosevelt field century theatre from canadas cineplex odeon corps rko century warner theatres inc for 17 mln dlrs
safeguard scientific sfe unit buys subsidiary
us oil prices strong ahead of opec meeting
all sales under the line must be registered and exports completed by september 30 1987 the department said
india passed on all other materials they added
btr nylex ltd said it will increase its takeover offer for borg warner corps bor listed unit borg warner australia ltd bwa to five dlrs each from four dlrs for all issued ordinary and preference shares
under various options the in the agreement pdvsa could supply another 50000 bpd on similar terms the company said
subscriptions to 300 mln guilders were met in full amounts above 300 mln at 50 pct
but kleinworts latest world oil report said re stocking and lower non opec output earlier this year should allow the group to produce up to 17 mln bpd in the current third quarter
there has been speculation in trade circles that usda would offer india subsidized vegetable oil under the export enhancement program and donate surplus corn under section 419 of an amended 1949 law
kaiser aluminum and chemical corp said it is increasing prices for a broad range of common alloy coil flat sheet and plate products
respondents said finance was harder to obtain which westpac chief economist bob graham said was probably because of high interest rates rather than the availability of money
the pact was a major turning point in us policy ending a period of disdain for economic cooperation and intervention in currency markets
several firms have devised different structures for euro mtns and defend their structures adamantly
the senate last week unanimously called on reagan to impose penalities on japanese exports
but ogpin denied manila was playing down the prepayment aspect of the restructuring
algeria regulates use of coffee additives
praising the role of multinational companies and local entrepreneurs in kenyas economy the minister promised to maintain a close working contact with the private sector
dome is next scheduled to appear april six to defend against the action
the department said an additional 43 billion dlrs in certificates has been authorized for issuance during january august 1987
qtly div 10 cts vs 10 cts in prior qtr payable april 22 record april 10
goria told reporters after meeting funaro who is in rome on the fifth leg of a tour to seek governmental support for his efforts to solve brazils debt crisis that italys expression of support was based on reason as much as sympathy
lower refinery operations seen producing profits
stoltenberg told a news conference the statement released yesterday monday after the private meeting emphasized our determination to continue the close economic cooperation regarding foreign exchange stabilization and monetary policy stoltenberg said that he baker and bundesbank president karl otto poehl had a very constructive discussion and had all reached a positive evaluation of the louvre accord during their meeting on monday
xuto told delegates this session of the conference presented a promising opportunity to conclude a new pact but it had to be the last before the current accord expires in october
both producer and consumer icco members said after the opening session that prospects for an agreement on the cocoa market support mechanism were improving
fed funds were trading at 6 3 4 pct at the time of the direct injection of temporary reserves dealers said
terms were withheld
pennwalt corp said it has agreed in principle to acquire a line of fungicides insecticides and herbicidesand related manufacturing facilities from le raffineries de soufre reunies of marseilles for undisclosed terms subject to approval by bothe boards and government authorities
tunisia tender expected for 100000 tonnes wheat
the reserve bank of new zealand said there was no evidence to suggest the fall in share prices had affected financial stability and it would maintain its firm monetary policy
unctad spokesman graham shanley said consuming countries realise steady export earnings enhance developing countries ability to service debt and mean greater demand for industrialised nations capital goods
we cant believe the ec would willingly take measures to undermine our countries but such would be the impact of these measures wilson said
aristech plans to spend approximately 200 mln dlrs over in capital investments over the next three years marshall added
taiwans soybean imports in calendar 1987 are provisionally set at 181 mln tonnes compared with a revised 174 mln tonnes imported last year
this compares with 200 mln dlrs earmarked for debt repayment in the year ending june 30
allegis reported a pretax gain of 806 mln dlrs as a result of that partnership
domestic crude oil production was estimated at 835 mln bpd down 78 pct from 906 mln a year ago and gross daily crude imports excluding those for the spr averaged 344 mln bpd up 163 pct from 295 mln the eia said
tidier rules on incorrectly allowed prt expenditure reliefs were announced while there were also ammendments on rules on corporation tax and advance corporation tax relating to the so called ring fence of activities in the uk and its continental shelf
australias largest company the broken hill pty co ltd brkns bhp is expected to report a net profit of around 600 mln to 620 mln dlrs tomorrow for the first nine months ended february 28 share analysts polled by said
consumer prices in the countries of the organisation for economic cooperation and development oecd rose 03 pct in february and inflation rose to 24 pct year on year the oecd said in a communique
iea says opec february crude output 161 mln bpd
the annual growth of australias m3 money supply rose by 112 pct in the year ended february compared with januarys 107 pct the reserve bank said
domestic demand will continue to replace exports as the motor of economic growth
the bank in 1986 decided to establish a fund under the name idb unit trust to introduce and market financial instruments in line with the principles of islam the report said
the weakness of the west german economy is the biggest single factor with import growth there expected to feature a sluggish 35 pct growth in 1987 against the 65 pct forecast in december the eiu said
deutsche bank ag co chairman f
qtly div 55 cts vs 55 cts prior payable may one record april three
brazilian finance minister meets swiss officials
chrysler finance issuing sterling eurobond
marin said the rains would only affect the coffee crop if they continued through to next month when harvesting starts
i recognise that the strong yen has brought problems to japans domestic economy he told a group of japanese businessmen in london
the company believes the downgrade is unwarranted
armtek corp formerly armstrong rubber co completed the previously announced sale of its natchez miss tire plant and other assets to condere corp condere said
taiwan had a trade trade surplus of 156 billion dlrs last year 95 pct of it with the us the surplus helped swell taiwans foreign exchange reserves to 53 billion dlrs among the worlds largest
interconnect capital said it seeks to acquire gates learjet corp on friendly terms
in a speech today in the northeast city of dalian us secretary of state george shultz said his country welcomed chinas interest in participating in gatt
the belgian government has lowered its forecast for the nominal increase in gross national product in 1987 to 35 pct from an originally forecast 39 pct prime minister wilfried martens said in a statement to parliament
holiday inns also sold thursday via drexel 500 mln dlrs of subordinated debentures due 1999 with an 11 pct coupon and par pricing
japanese banks are setting up a jointly owned firm to which they will transfer some ldc loans in a bid to strengthen their balance sheets improve financial management and get tax breaks
by bringing forward to the third quarter some imports the quota would effectively be eased by about 250000 tons
it said the shares are owned by wf rockwell jr chairman and chief executive officer of astrotech and s
but it said gas reeserves rose to 731 trillion cubic feet from 722 trillion at the end of 1985 despite a 309 mln cubic feet downward revision in previous reserve estimates during 1986
earlier today reagan imposed 100 pct tariffs on a range of japanese goods in retaliation for japans alleged violation of a bilateral pact governing semiconductor trade
first financial which provides data processing services to community banks and other financial institutions said the acquisition will expand its customer base
he also said he would prefer to see canadians participating in any privatization but would not give any details on timing of a sale
only 650 tonnes of roasted coffee were exported last year
this would reduce 1987 pre tax and after tax net by 800000 dlrs in the first quarter and by two mln dlrs for the full year the bank holding companys officers said
chrysler agrees to acquire electrospace systems for 367 mln dlrs
texaco canada said it lowered the contract price it will pay for crude oil 64 canadian cts a barrel effective today
dean witter analyst karen gibbs said a retail sales figure below market forecasts would give a boost to debt futures and she put the range for the non auto sector of retail sales at up 08 to 12 pct
they said approved lending in 1986 87 july june is expected to total 14 billion dlrs of which 550 mln will come from the ida and 850 mln from the world bank
some varieties of winter wheat sown in poland can survive ground temperatures as low as minus 20 degrees c spokesman teresa tomaszewska told 
a bp spokesman said the fire was confined to one plant at the 700 acre refinery at grangemouth 25 miles west of edinburgh
shr loss 57 cts vs loss 288 dlrs net loss 3442000 vs loss 13750000
revlon group rev reports 1986 results
but traders said the rumors today did not name buyers
the dutch are the second largest consumers of margarine and fourth largest consumers of vegetable oils in the ec
one below 50 pct implies a declining economy
olson said it expects to receive about nine mln dlrs from a combination of a sale of tangible assets to sunny fresh and realization of intangible and other assets by olson
terms were not disclosed the plants operations will complement existing ceiling materials production within jim walters building materials group which last year generated income of 549 mln dlrs on sales of 740 mln dlrs
the plan also contemplates establishing a restructured loan providing for one master credit agreement having an aggregate balance of 224 mln dlrs
these tradable dollar denominated zero coupon notes would have a maturity of six years but they would be redeemable at any time at par for pesos to fund investments approved as part of the governments debt equity scheme
the investigations will hurt the companys ability to obtain funding it said
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
greed has created a feeding frenzy on wall street and in the process laws are broken and multi billion dlr corporations have become easy prey rep
most economists had expected a less aggressive injection of reserves via customer repurchase agreements
banks received more liquidity through routine month end payments by public authorities as well as expansionary market factors than was lost through the 23 billion mark rise in cash in circulation to 1223 billion the bundesbank said
but increasing use of the product in parts attached to car engines will raise demand and the company will boost output to 10 tonnes by march 1988 from two now he said
at the same time he said sprint had increased its total number of customers to four mln from two mln from july 1986 to last january
the drop will simply bring us back to 1985 levels with a loss of no more than about 100 mln dlrs he said
however baker said on saturday that while the louvre agreement was still operative the west german interest rate move would force the us to re examine the accord
net profit 1666 mln hk dlrs vs 1128 mln total divs to shareholders 75 mln vs nil note firm underwrote 23 capital market issues in 1986
finnish export credit issues yen bonds
southeast banking corp said it filed with the securities and exchange commission a registration statement covering a 50 mln dlr issue of convertible subordinated capital notes due 1999
in particular short term prime interest rates which had gone over 40 pct in 1985 are now down to less than 10 pct he said
tmoc said in the statement that the bid was unsolicited and that santos had only a 307 pct stake despite paying up to four dlrs a share on market
siebe plc of the uk said it completed the acquisition of ranco inc following approval by ranco shareholders
trade is the most urgent problem facing us canadian relations because of a pressing need to reach a new bilateral pact within the coming months joe clark canadian secretary of state for external affairs said
exports at 258 billion dlrs were up 19 pct compared with february last year but imports were 46 pct higher than last february totalling 316 billion dlrs
lyng added that there seems some support in congress for 0 92 and there was a good chance a pilot 0 92 program will be passed as part of a pending disaster bill
the paper put 1986 87 output at 482 mln down from 524 mln in 1985 86 and domestic demand at about six mln tonnes
april heating oil was 147 cts higher to 4791 cts a gallon
the company said demand for its deskpro 386 portable iii and the new compaq deskpro 286 will contribute to the sales increase
baton broadcasting inc six mths feb 28 net
part of the output will be exported
during the negotiations consumers abandoned a proposal that the floor price be adjusted downward if the buffer stock currently 360000 tonnes rose to 450000 tonnes
shr 42 cts vs 121 dlrs net 2317000 vs 5847000 sales 3600 mln vs 2824 mln avg shrs 5463000 vs 4829000 note 1986 net includes 4700000 dlr pretax charge from writedown of land and abandonment of land and pretax charges of 580000 dlrs from pending rescission offer settlements with us agencies adjustment of the prior booking of residuals arising from collateralized mortgage obligation bond issues writedowns of land held by a joint venture startup costs associated with entering new markets an increase in reserves for customer service and writeoffs and reserves for mortgage related receivables to reflect current market values
the tender calls for shipment of 6100 tonnes in may 12200 tonnes each in june july and august and 12300 tonnes in september they said
crossland said salt lake city based western has been combined with its two florida based thrift subsidiaries
interest expense strengthen the companys financial condition and increase operating flexibility it said in a release
canadas wilson has no comment on dome dmp 
since then despite massive bank of japan intervention and periodic market frights about further g 5 concerted action the dollar trend has been down down down
one port a h range dubai 6800 mt bagged sugar 750 750 10 15 4 a c unnamed charterer
non callable for two years the issue is rated b 1 by moodys investors service inc and b by standard and poors corp
the french 1986 current account balance of payments surplus has been revised slightly upwards to 258 billion francs from the 254 billion franc figure announced last month the finance ministry said
the envoy 75453 tonnes dw was carrying a cargo of 50000 tonnes of bauxite from brazil to cuba
bank of japan to sell 300 billion yen in bills
there is some threat
belgian three month treasury certificate rate cut 010 points to 740 pct
handelsbank is joint lead with prudential bache securities int
no firm date has been set for the talks ambassador rene montes told reporters at the ico executive board meeting here
fridays loan stock was the third this year already the sources noted
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
this years target of 20 pct might be attainable but the economic management will have to be careful he said
japan gnp rises 25 pct in calendar 1986 47 pct in 1985 official
earlier this week armtek announced the sale of its industrial tire and assembly business division to dyneer corp of scotsdale ariz
he favoured raising the rates which are currently well below the annual inflation rate of 332 pct
concepcion said while the levy might be rejected by the ec council of ministers he noted that i cannot help but wonder whether the agreements we produce in meetings like this are of any real value he also said industrialised nations saved about 65 billion us dlrs in 1985 through low commodity prices but this had affected the ability of developing nations to import goods and services
the united states which has long sought japanese action to stimulate its economy appears to be satisfied tokyos latest package is a major development and allows leading industrial nations to reaffirm their agreement to stabilize currencies
the fdic sold 52 mln shares to the public last year and has said it intends to sell the rest as quickly as possible
he sees economic growth hovering around a modest two pct level for the next few years
the bulk of this will arrive during feb may ahead of the april elections and the religious ramadan festival throughout may it said
it said holders of the contingent payment units will be entitled to receive annual payments to the extent that the predepreciation gross profits of triangle microwave in each of the years 1987 through 1991 exceed threshholds ranging from eight mln dlrs in 1987 to 14 mln dlrs in 1991
new zealands trading bank seasonally adjusted deposit growth rose 26 pct in january compared with a rise of 94 pct in december the reserve bank said
but freer use of the yen could encourage more trade settlements in the japanese currency he said
quebec 91 day t bill yield rises
dealers said there were widespread rumours that the us federal reserve telephoned some banks in new york to ask for quotes last wednesday and even intervened to sell the dollar when it rose to 187 marks
the restructuring is subject to approval by carter hawley shareholders
in the second fiscal quarter last year tandem earned 9950000 dlrs or 29 cts per share on revenues of 1763 mln dlrs
the letter of credit will be underwritten by a group of banks who will be paid a 20 basis point facility fee and a 25 basis point utilisation fee
egyptian 1986 crude oil output down on 1985
asked why only japan was committed to fresh measures in the statement he said japan was exceptional among the seven because the yen appreciated against the dollar while other major currencies largely have been stable
monsod said any pricing agreement on rescheduling 36 billion dlrs of the philippines total foreign debt of 278 billion dlrs would ignore a looming 14 billion dlr net resource transfer in the same period
shr profit one ct vs loss nil net profit 200052 vs loss 56782 revs 2394198 vs 706393 avg shrs 178 mln vs 198 mln year shr profit one ct vs profit one ct net profit 258125 vs profit 164553 revs 4225731 vs 3027892 avg shrs 179 mln vs 195 mln
but we are not happy with the reagan administration he said
the agency considers that it is now appropriate to replace these operations with short term assistance based on government of bahrain treasury bills the circular to banks states
xie said her bank sooner or later will have to punish the many firms that have failed to repay loans made to them over the past two years at high interest rates
the coupon was set at 37 pct a record low for any government note and below the 38 pct set on the last two year notes auctioned in february
the banks felt that this was new information and that further consultation was called for one banker said
this should be matter of priority for the executive board he said
visual graphics corp vgca vgcb said its board declared a quarterly dividend of 7 1 2 cts per share on its class b common stock and 8 1 4 cts per share on class a common stock payable april three to shareholders of record as of march 23
subsequent yields on the certificates will be calculated by adding 075 point to average rates on short term treasury bills
western digital wdc to redeem convertible debt
lawsons decision to restrict the fall in the standard rate of tax to two pence surprised many analysts who had predicted that with treasurys coffers full of tax revenue would have allowed the government to reach its goal of 25 pct in one move
the bill also requires regulators to apply more liberal standards when deciding whether to close ailing thrifts in depressed regions
separate import and export figures were not given
theres been nothing thats taken place to indicate to me that theres a pressing need on their part for that sort of deal a wheat subsidy when asked if a subsidy would be offered at a us soviet summit lyng said no i dont think so
ericsson ericy wins order from west germany
poco petroleums ltd 1st qtr jan 31 net
baker international corp said it has signed a definitive agreement to sell the assets and business of the electric submersible oilwell pump product line in the continental us of its baker oil tools inc subsidiary to trico industries inc tro for an undisclosed amount of cash and other consideration
monumental corp a us insurer which merged with aegon in may 1986 saw its profits almost completely eroded by these costs and made only a small contribution to the groups profits
international business machines corp said it formed a new business group to sell and support telecommunications products
state plantation officials in sri lanka said prices had been depressed since inras inception and the creation of a buffer stock and they seemed unlikely to rise
japan firms to launch sales of 100 octane gasoline
the timing of the bank of england move took operators by surprise after its recent action seemingly designed to dampen hopes of a base rate cut ahead of the uk budget on march 17
production of one trillion cubic feet offset much of these gains the report said
the dollar traded between 151 and 153 yen after the paris accord on february 22 and 150 yen was then considered the low end for the dollar against the yen he said
texstyrene corp foam 11 mths dec 31 loss
the new accord is due to replace the current one which expires in october
interest on the three variable rate tranches issued at par will be based on annualised money market rates tam for the february preceeding each payment
ships held up at calcutta
the us last year had major deficits with three of its asian trading partners south korea 71 billion dlrs hong kong 64 billion and china 21 billion
the major target of the japanese government is to maintain the yen at above 150 at least for the rest of the year he told reporters during a brief visit to malaysia
ecuador posted a trade surplus of 106 mln dlrs in the first four months of 1987 compared with a surplus of 2717 mln in the same period in 1986 the central bank of ecuador said in its latest monthly report
a merchant banker also said reduced manufacturing costs due to lower lending rates are likely to boost the share market
b and c also said that its chairman lord cayzer planned to retire in june
shr 38 cts vs 30 cts net 3649000 vs 2789000 sales 1374 mln vs 1192 mln
hk bank expected to post 10 to 13 pct profit rise
ust corp utsbo 1st qtr net
many recent innovations were either unfair to investors or unfair to borrowers
desjardins group lowers visa interest rate
german stake
note company said the figure is slightly lower because french branches have become group subsidiaries proposed net dividend on ordinary shares 100 francs including 20 franc supplement due to the exceptional character of results vs 719 francs
poul erik moller a santa monica calif investor said he raised his stake in first western financial corp to 412000 shares or 65 pct of the total outstanding common stock from 347000 shares or 55 pct
he said the volume of ec oil imports from the gulf had declined to around 31 pct of total oil imports in the first three months of 1987 against 35 pct in the same period last year
ruiz ligero said infe would double its annual budget to 20 billion pesetas to finance the four year plan while the governments development aid fund fad would provide a special 25 billion peseta grant
the chilean state copper corporation codelco the privately owned chilean copper fabricator madeco and chinese interests are to establish a copper tube plant in peking codelcos uk subsidiary chile copper ltd said
foreign exchange reserves rose 330 billion francs to 3394 billion
we wish to reach a reasonable agreement with bolivia so that the country can experience a significant financial respite weizsaecker said
wolverine www to sell two subsidiaries
advanced telecommunications corp said it has called for redemption on april 10 all of its eight pct convertible subordinated debentures due 2006 at 1080 dlrs per 1000 dlrs principal amount plus accrued interest
the net position of public authorities at the bundesbank declined 67 billion marks in the last week of february
the figures were broadly in line with market expectations
national capital ncets to make sale
export quotas the major device of the international coffee agreement to stabilise prices were suspended a year ago after coffee prices soared in reaction to a drought in brazil which cut its output by two thirds
industrial equity pacific ltd a hong kong investment firm said it raised its stake in calmat co to 1480830 shares or 98 pct of the total outstanding common stock from 1217230 shares or 80 pct
western mining sells acm stake
it said the agreement under which it owns 50 pct of the partnership enables it to move into the mergers and acquisitions business
dunkirk xingang 12000 mt bagged flour 1500 1700 13 20 4
the madrid stock exchange suspended trading in fecsa shares on february 6 saying the company was unable to meet payments on its 594 billion peseta debt
thermo process systems inc said it completed its purchase of thermo process services inc a subsidiary of thermo electron corp tmo thermo process systems said it issued 2590000 shares of its common stock to thermo electron in connection with the sale
march and the next two or three months will be a really critical period hernandez said
1985 includes loss from foreign affiliates of 173000 dlrs
corn acres totalled only 6022 mln in 1983 when the pik program was introduced
a european monetary official said the ministers of the group of seven countries would gather at about three pm local 1900 gmt at the treasury
therefore hall said rsi will evaluate a property assign it an environmental risk level and advise the bank about its options to reduce environmental risks
american international would not identify the company
vms mortgage vmtgz cash distribution rises
the ministry said the fresh allocation for the february 27 july 7 shipment period is the third under a maximum 55 mln tonne overall quota that thailand obtained from the ec for calendar 1987
nationair sets 299 dlr flight to brussels
sterivet stvtf sets three for one share split
parker drilling co pkd 2nd qtr feb 28 loss
gordon jewelry corp gor 4th qtr aug 31 loss
nine mths 1987 included write off of fslic secondary reserve of 227 mln
british aerospace plc baell 1986 year
area sown to sunflowers was two to 22 mln hectares 299 to 363 pct below the record 314 mln hectares last season
t c single or tweendecker 16000 19000 tonnes dw del queensland mid april early may for trip with bulk sugar redel china duration about 30 to 40 days a c kawasaki
officials of thailands rain making institute said its airplanes could help little because few clouds were forming for them to seed with rain making chemicals
unilever nv final div 1067 guilders making 1533 guilders vs 1482 guilders
in order to expand participation by foreigners the syndicate must either expand the securities industrys 26 pct share or introduce auctions to the primary market they said
associates corp of north america is issuing a 15 billion yen eurobond due november 2 1992 with a five pct coupon and priced at 102 3 8 ibj international ltd said as lead manager
natl loan release call avge rate x level price price oats 124 099 v 165 barley na 156 iv 255 255 v 265 sorghum 234 325 y iv 536 536 v 554 reserves i ii and iii have matured
this so called bridge financing will be replaced later with long term debt most likely in the form of bank loans hutton said
year to date us car output through the end of march was 1064141 vehicles down from last years 1205768
but in a statement accompanying year end figures the group said it expected satisfactory business development over the next months
wickes cos inc 4th qtr shr loss two cts vs profit 14 cts
biotherapeutics inc said its common stock will be included in the nasdaq national market system starting april seven
crushings of rapeseed sunseed and soybeans will probably rise from last year due to bumper ec crops
alpine group inc agi 3rd qtr jan 31 net
the loss included a number of charges including additions to its loan loss provision of 68 mln dlrs and write downs on the value of its real estate of 13 mln dlrs
restoration of the depletion allowance for a 27 pct deduction from the taxable income of oil companies is controversal but might work said dunham
hockin said he hopes to here the associations response on the important issue soon
this would help agriculture because some its inefficient non productive segments would stop operating he said
gencorp today received a surprise tender offer from a group that holds 98 pct of its stock
the quebec government said it joined with bf goodrich canada inc to study the feasability of building a vinyl chloride monomer plant in montreal
however frn dealers polled by felt the irish issues had been singled out as the us and canadian banks were most recently as the markets most vulnerable sector
this will reduce short haul availabilities by about 250000 bpd almost immediately and the longer the suspension continues the larger the draw in stocks will be for companies expecting it to be there mckinley said
the company said it will buy the 85 pct interest in seaxe from shareholders owning restricted or controlled shares for less than 200000 hadson common shares
the historical cross rates for sterling and the mark tell much the same story
the company said it would bid for all stock it or its affiliates do not already own
the price of gold bullion is likely to rise in the second half of the year on increased private investor demand west german analysts said
oils fats stocks seen falling sharply in 1986 87
this follows a 319000 gain in january revised down from a previously reported 448000 increase
hadson hads to acquire 85 pct of seaxe seax 
a different union struck cbs inc cbs and capital cities abc inc ccb a month ago
it said it declared a dividend on its outstanding common stock of stock purchase rights which have a term of 10 years and will be issued april 10 to holders of record april 10
permian basin pbt proven reserves fall
reports of customer resistance to fixed prices set by some opec states were reflected in output from qatar and nigeria both substantially under quota in february and early march
fundamental brokers institutional associates a leading inter dealer broker in us government securities said it has agreed to acquire certain assets of mki government brokers inc for undisclosed terms
austria decides early redemption of samurai bond
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
shr basic 83 cts vs 105 dlrs shr diluted 80 cts vs 96 cts net 116157000 vs 125146000 six mths shr basic 171 dlrs vs 227 dlrs shr diluted 163 dlrs vs 206 dlrs net 230265000 vs 265535000 loans 6793 billion vs 6550 billion deposits 8371 billion vs 8425 billion assets 10000 billion vs 9750 billion avg shrs 1164 mln vs 1021 mln
growth in 1987 is expected to come from the anticipated rise in export earnings if the industrialised countries sustain their average gnp growth at 25 to three pct it added
leigh pemberton said in oral evidence to a select committee that we did not swap numbers we reached an understanding on how to cooperate towards stabilizing currencies at around their current levels
a similiar survey was made when the currency fell to the previous record low of 14998 on january 19
buyers were the us argentina uruguay and convertible currency areas
national fsi inc nfsi 4th qtr loss
latin americans are unwilling to go below 40 pct which would oblige the us to line up two other voters or voting blocs on its side
in the months leading up the february 22 agreement the dollar dropped some 10 yen
the cardis common shares continue to offer opportunity for price appreciation on the basis of the companys asset value and earnings momentum the brookehill group told the sec
the total of all crude refined product and spr stocks were unchanged at 15751 mln barrels it said
fearing that an argentine moratorium would stiffen the resolve of its neighbour brazil which has already suspended payments the banks at the urging of the reagan administration bowed to argentinas demands
as a result a purchaser would not be bound to buy the shares that were tendered if the minimum level were not reached
if we have failed at the ico at least we have tried dauster said adding now it is time to go and sell coffee but brazil is keeping its marketing options open
he declined to predict specific results for the first quarter
us gulf of mexico rig count climbs to 389 pct
cocoa terminal deposits to be cut 25 pct icch
shr nine cts vs seven cts net 1356000 vs 1041000 revs 97 mln vs 84 mln
barclays de zoete wedd ltd has been added to the group of dealers for the program
any decision will be forwarded for final approval to a gcc summit meeting due in saudi arabia late this year
venezuela will supply ecuador with an as yet undetermined amount of crude oil to help it meet export commitments seriously affected by last weeks earthquake energy and mines minister arturo hernandez grisanti said
but he said for sugar growers as a whole expansion would not be good policy
net interest payable 72 mln vs 68 mln making 208 mln vs 203 mln
japanese officials in turn pointed the finger at the huge us budget deficit as one of the main culprits for the trade imbalance
the foreign ministry official refused to rule out japanese retaliation if america went ahead with its threatened tariffs in the middle of this month
it gave no details
few are willing to predict a sharp upturn in economic activity but one banker said the top 50 pct of the saudi banks are now at or close to international levels on provisions from 1982 to 1985 the kingdoms largest bank national commercial bank ncb stashed away 17 billion riyals in provisions or 89 pct of its total loans and advances to the private sector bankers calculated
union enterprises ltd said its agreement to sell its interest in canbra foods ltd to macluan capital corp has been terminated
the imf has said that a critical mass of bank commitments is needed before it will start disbursing the 183 billion dlr standby loan that it has approved in principle for argentina
if the talks prove successful the nigerian team headed by finance minister che okongwu and central bank governor abdulkadir ahmed will hold similar talks with french export credit officials in paris later this week the sources said
a market survey by showed some active accounts in us treasuries are currently dealing on tokyos stock market
indonesia plans to diversify its tea products by producing more ctc tea the main component of tea bags
but even if german banking authorities agree with some of the assessments of swaps they disagree on how to find balance sheet equivalents for the risk
shr a 1389 hk cents vs 974 adjusted shr b 278 cents vs 195 final div a 44 cents vs 323 making 62 vs 47 adjusted final div b 88 cents vs 65 making 124 vs 94 net 178 billion dlrs vs 123 billion turnover 166 billion vs 137 billion note net profits excluded extraordinary gains of 138 billion dlrs vs 591 mln
its going to take a lot more than the central banks to hold the dollar at these levels said snow who predicts another 10 to 15 pct depreciation
shr eight cts vs five cts net 1370898 vs 823988 sales 7786730 vs 4383825 avg shrs 17744333 vs 17071236 note per share amounts adjusted for three for two stock splits in april and july 1986
np further said the nielsen 1 20 well in duchesne county utah has tested 300 barrels of oil per day
in the philippines most rainfall was restricted to the central islands continuing februarys drying trend in luzon and southern mindanao
foreign ministry sources said the new strategy was being prepared by economists persio arida and andre lara resende both former central bank officials said to have played leading roles in the cruzado plan
reynolds said the sale is expected to be completed on april 24
the payment date is may 15
in a summary of its world agriculture report the department said grain production in sub saharan africa was a record high in 1986 with gains in almost every country
chemlawn said its rights holders can buy a share of its common for one dlr if any entity acquires 25 pct or more of its commmon other than by an all cash tender offer for all its shares or an approved acquisition agreement by its board
midland mla sets stock split
figures in dollars
the february sales index base 1980 was put at a preliminary 1250 after a final 1223 in january
qpl is already owned 483 pct by hwt
citicorp savings proposed to assume two billion dlrs in deposits and other liabilities and to purchase 19 billion dlrs in assets of 50 branch offices of sears savings
the cbis monthly trends survey for march shows that 43 pct of the 1685 polled uk firms expect to raise output in the next four months
diversified building materials group monier ltd mnras said talks are taking place which may lead to britains redland plc rdldl making an offer for the monier shares it does not already hold chairman bill locke said
fed funds were trading at 6 3 4 pct close to yesterdays 681 pct average
the national strike had been tailing off since mid march as seamen struck individual accords with companies
union pacific says will sign pact in caracas on march 17 for sale of half its corpus christi refinery
key unit
some of wall streets arbitrage players said it was a rare situation that could only be enjoyed a true bidding war
this takes the banks total help so far today to 188 billion stg and compares with its estimate of a record two billon stg shortage in the system
the palm oil registration and licensing authority porla reports trade in crude palm oil cpo on april 2 as follows in ringgit per tonne delivered unless stated
a cbt spokesman told the exchange was looking at a number of options to identify the most cost effective and efficient way to proceed including one which would involve moving the entire grains floor out of the building and into the nearby midamerica commodity exchange
the new york coffee sugar and cocoa exchange csce elected former first vice chairman gerald clancy to a two year term as chairman of the board of managers replacing previous chairman howard katz
in light of these disclosures sun found it necessary to re evaluate the feasibility of seeking control of the company and has sold a portion of its shares and currently intends to sell the balance thereof from time to time the group said
the so called group of five industrial countries the united states japan west germany france and britain will gather for the first time since their february talks in paris where they agreed to keep the dollar from sliding further
the company added that it expects first quarter 1987 earnings to be down moderately from year earlier levels
everything seems to be coming to a head right now and you dont need much to get things rolling sloane said
qtly div eight cts vs eight cts prior pay april 30 record april 16
negotiations will resume next tuesday he said
waxman industries waxm to sell convertibles
britain warns japan over trade row
the assessments are used to fund workers benefits
the company said the acquisition is subject to approval by colonial shareholders and regulatory authorities
she said the government was determined not to intervene to influence production decisions by oil companies operating in the north sea
s and p also cited net charge offs especially in real estate energy and consumer loans
we are holding active discussions with the ec and bilaterally she added
cominco will maintain a majority position in the company but the remaining interest will be sold in offerings led by wood gundy inc and first marathon securities ltd in canada and sg warburg securities and wood gundy inc internationally
the company said it expects to report normal earnings for the rest ofd the year of 4500000 to five mln dlrs per quarter
bank of japan intervening to support dollar against yen dealers
he said the decision did not affect payment of interest on loans and debentures
no zimbabwe dollar devaluation central bank
the harvest was scheduled to end april 30 but due to the present shortfalls it will be extended into may and june the official said
he said the inflow of funds mainly from japan europe and the united states is the result of confidence in the direction this country is going in that is the reason why the canadian dollar today is higher than 75 cts us compared to this time last year when it was a little over 69 cts wilson told the house of commons daily question period
we must encourage research now in order to make synfuels competitive later hall said
government officials said japan would make a formal request next week for emergency talks and that the two sides would probably meet the week after just days before the april 17 deadline set by washington for the tariffs to take effect
blackburn said that his new company would spend 75 mln dlrs in north america and 90 mln dlrs overseas mainly indonesia in the search for oil and gas reserves
some observors said the demise of illinois cooperative futures co
this banker who has discussed debt questions with greenspan described his views as simplistic
the company said the sale is in line with its strategy of refocusing on its health care service business
theres not much thats off the table in terms of creative thinking about ways to sell cars says david cole analyst with the university of michigans transportation research institute
rowan cos inc rdc 1st qtr loss
gdp grew by three pct last year
standard and poors said it lowered robert bruce industries incs 15 mln dlrs of subordinated debentures to ccc from b minus because of a deterioration in earnings and cash flow
the coupon will be fixed on april 8 while the conversion price and foreign exchange rate will be set on april 9
proxmire outlines insider trading legislation
major home appliance shipments up in february
the region has been hoping for a seventh replenishment of iadb resources of at least 20 billion dlrs for 1987 90 as against 157 billion for the previous four year period
the changes effective today included reducing commercial bank lending rates that have ranged between 15 pct and 175 pct by one percentage point
the us agriculture department is proposing tighter federal standards setting allowable limits on insect infestations in grain shipments
on a year on year basis m2 rose 1625 pct in the 12 months to december 1204 pct to november and 16 pct to december 1985
the par priced issue has an indicated coupon of between 5 1 2 and 5 3 4 pct
oil prices are denominated throughout the world in dollars so as the currency declines producers receive less money for their oil
the negotiations are not going to prosper if the creditor banks do not change the counter proposal put to argentina as it is a swiss cheese full of holes ruling radical party deputy raul baglini said
shr 10 cts vs 11 cts net 226000 vs 236000 sales 13 mln vs 15 mln year shr 38 cts vs 45 cts net 819000 vs 1001000 sales 58 mln vs 64 mln
seipp also said securities trading activities had been considerably strengthened in london
it said it has engaged merrill lynch and co inc mer to assist in the sale process
shearson lehman brothers inc said it has sold a new type of certificate of deposit designed to provide top rated japanese banks with broader access to the us money markets
group raises computer memories cmin stake
additionally the company said kwvt which serves 785000 homes began broadcasting home shopping network full time this morning under an affiliation agreement
although the market is expected to be resting until trading switches to an april value date the euroyen sector is expected to be buoyed by some professional switching out of japanese government bonds into relatively cheaper euroyen bonds
it said the labor increase then will be 32 pct for abf freight system its largest unit
shr primary 60 cts vs 42 cts shr diluted 57 cts vs 41 cts net 5590000 vs 3721000 revs 1035 mln vs 918 mln nine mths shr primary 155 dlrs vs 141 dlrs shr diluted 148 dlrs vs 134 dlrs net 143 mln vs 127 mln revs 3005 mln vs 2693 mln
treasurys baker says reagan unlikely to alter opposition to oil import fee
the western industrialised nations have agreed reforms in rules by which they provide credit for exports to developing countries the organisation for economic cooperation and development oecd said
fourth qtr earnings exclude loss from discontinued operations of 676 mln dlrs or 472 dlrs a share and a loss of 258 mln dlrs or 181 dlrs a share from tax reverse versus a gain from discontinued operations of 18 mln dlrs or 14 cts a share in 1985s 4th qtr
in absence of any guidelines on inventory charges from the federal energy regulatory commission the matter is being negotiated between pipelines and customers richards said
china formally applied to join gatt in july 1986 and in february presented a memorandum backing its application which de clercq said was now being studied
the market was showing limited signs of recovery from the collapse in trading last night and the calmer tone was reinforced this morning as the first significant retail orders for some time emerged one senior frn trader noted
royal resources rrco sets vote on sale
saudi oil minister hisham nazer told and the television news agency visnews yesterday that saudi output including neutral zone production was around three mln bpd
total trade with the soviet union involving swaps of agricultural produce and textiles for soviet arms and crude oil is estimated at 304 billion dlrs in fiscal 1986 87 against three billion in 1985 86
norsk hydro issues 50 mln stg bonds
he added that the meetings will also provide an opportunity to discuss economic policy coordination efforts
he added that no one should expect any dramatic developments before march 31 brazil last month suspended interest payments on its 68 billion dlrs debt to commercial banks and froze short term trade and money market lines
the redemption date is may 5 1987 it said
it rose as high as 150 dlrs in toronto during the day
i think theres a strong sentiment here that some industries are not totally up for grabs the paper quoted the official as saying
dumez investments inc said it is accepting and paying for 478125 shares of united westburne industries ltd in response to its 25 dlr per share tender offer and it has extended the offer until june 26
a sinking fund starts in 1994 to retire 75 pct of the notes by maturity
uk money rates firm on lawson sterling targets
csr has said that redland will take up the second option
in april central bank president wim duisenberg said he would follow any bundesbank cut and last week the finance ministry expressed satisfaction when it raised 225 billion guilders with a six pct coupon state loan priced at 10010 pct for an effective yield of 598 pct the lowest since 1965
jeffrey leeds of chemical bank had not been convinced that the fed was tightening policy
we must find an equilibrium between foreign adjustment and internal adjustment funaro said
shr primary 24 cts vs 25 cts shr diluted 21 cts vs 25 cts net 530583 vs 493423 revs 102 mln vs 9834578
many factions within the ldp are distancing themselves from nakasone uchida said
spain has 68 mln dlr january payments surplus
us treasury secretary james baker said leading latin american nations have delayed accepting a us compromise proposal on major reforms of the inter american development bank
while institutional sources said salomon lowered the ratings to m from o plus on bank stocks bond traders said this carried over to the secondary market and further undermined confidence in bank paper
bundesbank bought dollars against yen dealers say
it said it intends to sell the rest of its dayton hudson shares
granma said 20000 head of cattle are now in imminent danger
it hit a new record low of 14820 yen yesterday
tax increase reduced 1986 yr per shr by 26 cts
s p said prior ratings reflected anticipation of a significant improvement in financial condition following the completion of the hope creek nuclear unit and receipt of subsequent rate relief
irt property irt may sell convertible debt
the national bank said banks paid back 55 billion francs of central bank credit taken out at the end of february for the end month liquidity requirement
mthly div 71 cts vs 71 cts prior pay april 30 reord april 15 note franklin insured tax free income fund
the bank said among the other loans was one of 40 billion lire to ing c
this is a start and i venture to say a good one the treasury secretary said and he urged the audience of western and latin finance officials and bankers to stand fast against suggestions of solutions like debt relief
the days only other feature was a targetted 30 mln dlr stepped coupon deal for kawasaki steel due 1994
deregulation has brought an infusion of additional capital and a broader base of products asx chairman ian roach told 
bank of japan governor satoshi sumita said he does not expect the dollar to remain unstable and fall further
food costs rose in january from december but prices fell for clothing footwear and utilities causing the overall decline for the month
swift energy co sfy 4th qtr net
volkskas predicted the rand will remain fairly steady for the rest of 1987 and then ease slightly next year
olivetti does not exclude stake in sgs thomson
gold rose by about 50 us cents an ounce following a statement by president ronald reagan that the arms for hostages deal with iran was a mistake dealers said
the crowns index is currently around 10960 in the basket close to its upper limit of 10950 which the central bank is committed to defending
while the negative effects on revenue of the sharp drop in the dollar were partially compensated for by cheaper fuel prices there was no such offset for the strength of the franc against other european currencies
the move by toshiba comes in the middle of a dispute over japans refusal to open up its telecommunications market to foreign companies
crowley milner and co com 4th qtr jan 31 net
then everyone would be looking at sales of assets and were no different from the others silas said
spectra physics said a letter communicating the boards recommendation and reasons therefore is being mailed to stockholders
turner said the prospects were good and it looked forward to taking advantage of the opportunities available
no firm contracts have yet been finalised under new laws enabling joint ventures first deputy prime minister and chairman of the state agro industrial committee gosagroprom vsevolod murakhovsky told journalists here on wednesday
they added that of the 97 mln cars in the ec only 20 mln now ran on regular leaded petrol and these would risk no damage if they switched over to premium leaded petrol
opr shr nil vs seven cts opr net 3000 vs 99000 revs 2745000 vs 2395000 avg shrs 1500000 vs 1375000 year opr shr 24 cts vs 20 cts opr net 343000 vs 271000 revs 107 mln vs 8232000 avg shrs 1459000 vs 1341000 note earnings for year exclude gains due to tax loss carryforward of 210000 dlrs or 14 cts a share in 1987 and 198000 dlrs or 15 cts in 1986
in addition to the miners strike about 1000 railway factory workers of the bolivian labour organization cob began a second day of a hunger strike in the countrys main cities to press for substantial wage increases a union leader said
belgium is to issue a 150 billion franc eight year state loan carrying a coupon of eight pct a finance ministry spokesman said
the agency cut texas airs senior secured debt to b 3 from b 2 but affirmed the companys caa subordinated debt and b 3 junior preferred stock
us treasury secretary james baker declined comment on the february 22 paris accord between the six major industrial nations under which they agreed to foster exchange rate stability
he reaffirmed the us would press ahead with efforts to reduce its budget deficit resist protectionism and boost us competitiveness
scimed life systems inc smls said bristol myers co is analyzing the pending lawsuit brought against scimed by advanced cardiovascular systems inc to determine whether to consummate its previously announced plans to merge with scimed
lowering the producing industrys tax burden would probably be a slower stimulant to output than a price increase but would not raise energy costs lichtblau said
dor val mines ltd finds high grade order
caisse nationale des autoroutes is issuing a three billion french franc bond the french bond issuing committee said
colombias cost of living index rose 271 pct in march after a 203 pct increase in february and a 221 pct rise in march 1986 the government statistics institute said
a dozen of turkeys 55 banks have announced higher 1986 profits so far a trend bankers in the financial capital of istanbul expect to be reflected through most of the industry
the company said that pursuant to the restructuring it has cut general and administrative expenses attributable to bojangle by 35 pct
accu weather inc which specialises in providing data for agriculture and shipping interests said each el nino event was unique
woodside petroleum ltd wplas 1986 year
us stock market overreacts to tariffs yeutter
tender loving care said it will have the power to vote about 158 pct of staff builders shares at the adjourned meeting with a spokesman explaining that this represents the proxies held by norrell which started buying the stock after the record date for the meeting
as a result riyal deposits were strongly bid and traders scrambled for any available offers
shr 78 cts vs 87 cts net 1593 mln vs 1749 mln revs one billion vs 106 billion avg shrs 204335958 vs 200471561 nine months shr 218 dlrs vs 236 dlrs net 443 mln vs 4696 mln revs 32 billion vs 34 billion avg shrs 203375222 vs 199108842 12 months shr 173 dlrs vs 244 dlrs net 3519 mln vs 4815 mln revs 43 billion vs 45 billion avg shrs 202900311 vs 197320979 note full name public service enterprise group inc all results reflect three for two stock split effective july 1 1987
gros said the decision which he called a standstill arrangement will be communicated to brazils 700 bank creditors by telex tomorrow
it was unlikely to collapse like the tin agreement because its new financial provisions had been tightened they said
but rainfall in the next two or three weeks will be crucial to the size of the crop in the dry areas he said
telephone and data systems inc tds 4th qtr net
hearst buys houston chronicle for 400 mln dlrs
foreign trade in the same period fell 36 pct from the 1986 period as exports fell by 05 pct and imports dropped by 42 pct
allegheny noted it had previously cancelled plans to spin off the foodservice subsidiary
the amendments provide a total of seven billion dlrs us in standby credit
net earnings from continuing operations rose to 18 mln dlrs up almost 31 pct from 139 mln dlrs while per share earnings from continuing operations were 222 dlrs up 23 pct from 180 dlrs
union carbide uk files 500 mln dlr debt offer
new milford savings bank nmsb raises payout
but if there is superpower protection we would rather it come from us the official said
china has 521 sugar mills
shipowners have offered a 100 per cent raise which the seamen rejected
ec wheat release unlikely to satisfy uk demand
it said the june one election date has been extended to june 15 and the june 30 closing date has been changed to july 31
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
minimum reserve requirements on domestic liabilities grew to 1115 billion marks in february from 1109 billion in january
the cap is 12 pct
in fiscal 1986 datron earned 1776000 dlrs
northview corp novc year net
salomon brothers inc co managed the deal
the meeting is due to end on thursday
revenue has been adversely affected by depressed commodity prices and slowing of the economy
he told the sec that while he is trying to buy or acquire the firm he still may only hold the shares for an investment
earlier traders in london said the outcome of the tender was very hard to predict after last weeks substantial award and the placing of 785000 tonnes of sugar into intervention
enro holding is owned 50 pct by investors and 50 pct by management and others
like standard zinc which was superseded by a high grade contract gob aluminium will probably be replaced although the process in this case may take longer they added
prospect group said it bought the stock to establish a significant minority equity interest in the company but does not intend to seek control of brinkmann at the present time
proceeds will be used for general corporate purposes including possible repayment of bank debt product development and possible acquisitions helen of troy said
they reported offshore offers of overnight at 10 tomorrow next at eight and one year at 6 1 2 pct towards the close
imf managing director holds talks in ivory coast
at present we do not have a forecast for the unemployment rate this year but it is difficult to foresee the situation improving a labour ministry official said
san miguel brewery ltd a hong kong listed company which is 6965 pct held by neptunia on behalf of san miguel corp closed 40 cents higher at 1550 hk dlrs on friday
brazils gdp grew 82 pct last year
combustion engineering csp unit in buyout
japan is expected to post a 36 pct rise in real gross national product in 1987 88 higher than the official 35 pct target a private economic institute said
it said the common stock amounts have taken into account accrued interest on the notes and debentures
unadjusted may unemployment totalled 191 mln people up from 190 mln in april and 162 mln a year earlier
the acquisition will be completed this month as both the japanese and portuguse governments are expected to give permission soon
the plants production will be used by finlands paper industry for making coated paper and paper board products
sank off the west african coast early today and one of its eight crew members was killed a spanish navy spokesman said
liffe february volumes down but eurodollars up
it also said vice chairman david grutman and family members who own about 28 pct of barcos shares have agreed to sell their stock for the offering price
standard and poors corp said it upgraded 12 billion dlrs of debt of union carbide corp and its affiliate dcs capital corp
southwest realty swl has liquidity problems
governments built up strategic stocks to 102 mln tonnes against 97 mln in the period
the directors of hughes tool co ht said they would recommend to shareholders that they reject a merger with baker international corp bko today
in a filing with the securities and exchange commission the halcyon group said it bought the stake for 156 mln dlrs for no specific purpose
denominations are 1000 and 10000 dlrs and listing is in london
public service nc psnc raises payout
chemical fabrics cmfb agreement terminated
the borrower has a further option to issue also on a non underwritten basis medium term notes with maturities of one to three years it added
under the pact japan pledged to stop dumping microchips in the us and asia and open its domestic market to us semiconductors
the first quarter met our expectations westinghouse recorded net income for the first quarter of 1516 mln dlrs or 105 dlrs per share on revenues of 232 billion dlrs
foreign brokers want to underwrite more government bonds due to their end investor appeal
as long as that continues were okay he added
indonesia turkey eligible for cattle under eep
us sets 975 billion dlr year bill auction
the turnover figure was unchanged at 1562 billion guilders
the partnership said the dividend is greater than it had expectd to pay and was warranted by fourth quarter results and anticipated results for this years first quarter
burr brown said the possible write down is being precipitated by a shift in market demand toward higher performance products
soviet union seen watching china gatt application
canadian wheat exports in 1986 87 are forecast at 1900 mln tonnes vs 1900 mln tonnes last month
malaysia is a leading exporter of rubber palm oil tin and semiconductors and a major producer of cocoa timber and oil
american farm bureau opposes farm bill changes
safeway stores inc said it agreed to sell the assets and operations of its salt lake city division to bormans inc under undisclosed terms
eia says distillate stocks off 32 mln bbls gasoline up 22 mln crude up 75 mln
dutch green coffee imports fall in january
sumitomo bakelite said it bought the stock for 49 mln dlrs for investment purposes
nine pigmeat contracts were traded in february six more than in the previous month representing 450 carcases against 150 valued at 29347 stg against 9847 stg
the us treasury market ended sharply higher reassured by news that the federal open market committee voted in february to maintain the then existing degree of restraint on bank reserves dealers said
they said the central bank bought between one to 15 billion dlrs today including direct purchases through brokers and yesterday it might have bought a small amount of dollars through the us central bank in new york
he urged creation of a task force to be headed by former federal reserve chairman paul volcker to coordinate international credit and montary policies among major nations and stabilize interest rates at the lowest possible levels
an esso saf spokesman said a closure was a hypothesis that depended on the evolution of the market and refineries ability to make money
recent government moves to curb capital inflow have temporarily helped to slow the rise of taiwans foreign exchange reserves and to stabilise the local dollar against the us currency officials and bankers said
any stockbuild would be a negative factor they said
both issues will be offered through underwriting groups led by merrill lynch capital markets and salomon brothers inc
last weeks deal was bank of americas second foray into the young asset backed securities market analysts noted
the recent strength in materials has been concentrated in textiles paper and chemicals the fed said
berkshire gas co bgas pays regular qtlry div
many dealers are experimenting with owning several franchises some of which might compete against each other
the relative failure of recent intervention stands in sharp contrast to the success that central banks scored when they joined forces to drive the dollar down following the september 22 1985 plaza accord
klm net profit declines in 1986 87 year amsterdam june 18 year ended march 31 net profit 301 mln guilders vs 312 mln profit per 20 guilder nominal ordinary share 593 guilders vs 614 on unchanged 5085 mln shares
the tender offer and merger are subject to customary conditions and expiration of the hart scott rodino notification waiting period they said
rent a center rent votes 3 for 2 split
grimes ii a director of the company and b
emco ltd said the board approved a public offering of 750 mln dlrs principal amount of 7 1 4 pct convertible subordinated debentures maturing april 30 2002 subject to regulatory approvals
if money growth does not accelerate fed officials concerned that this indicates economic growth is flagging could turn toward easier monetary policy economists said
among the provisions the bill would reduce the threshold for notifying the securities and exchange commission that a investor or group has acquired a percentage of stock in a company to three pct from the current five pct threshold within 10 days proxmire said
cyprus lowers copper price 125 cts to 67 cts
the auditors also qualified the companys 1985 report for the same reason noting the sharp drop in oil and gas prices in early 1986
ctc dealer holdings ltd said it would appeal a previously reported ontario court ruling upholding an ontario securities commission decision to block ctcs bid for 49 pct of canadian tire corp ltd common shares
shr 40 cts vs 11 cts net 8265000 vs 2255000 sales 2483 mln vs 2454 mln six mths shr 94 cts vs 51 cts net 194 mln vs 106 mln sales 531 mln vs 5358 mln
lifetime corp lft year march 27 net
were just waiting a while for prices to improve an unidentified mexican trader told the agency
the notes will be listed on the london stock exchange
the government must announce harsh cuts in spending in its may 14 economic statement if it is to give an adequate response to australias economic problems the anz banking group ltd anzas said
last year south korea ran a 43 billion dlr trade surplus including a record 71 billion surplus with the us and a 55 billion dlr deficit with japan
uk money market given 53 mln stg assistance
the airlines cargo operations recorded growth of 21 pct in total tonnage over the previous year and a 359 pct rise in revenue to 179 billion dlrs
the treasury department said it would temporarily permit imports of south african uranium ore and oxide pending clarification of anti apartheid sanctions laws passed by congress last fall
it said the increased sales reflect initial shipments of its fluoroscan imaging systems low radiation x ray imaging devices that recently were classified by underwriters laboratories inc
when it first disclosed its stake in wrather earlier this month it said it bought the stock for investment purposes
he was asked about iranian claims that the united states was moving towards the brink of armed conflict with iran
prior quarter and nine month per share figures not applicable because company began operations in october 1986 with the acquisition of gould incs gld medical products group
they said that if the fed does act it will likely add temporary reserves indirectly by arranging one to 15 billion dlrs of customer repurchase agreements
ecuador posted a trade deficit of 713 mln dlrs in the first eight months of 1987 compared with a surplus of 4686 mln dlrs in the same period of 1986 central bank figures show
the talks in which the philippines is seeking to reschedule about 94 billion dlrs of debt are now dominated by a discussion of the innovative proposal made by finance minister jaime ongpin to pay part of the countrys interest bill in philippine investment notes pins instead of cash
the company created last october with initial equity of 400 mln dlrs is owned equally by the equitable life assurance society of the us and hospital corp of america hca financial results for the first six months of the companys operations were not disclosed
the gulf oil state of qatar recovering slightly from last years decline in world oil prices announced its first budget since early 1985 and projected a deficit of 5472 billion riyals
state oil firm agip petroli spa said it has acquired a 50 pct stake in steuart petroleum co an independent us oil products company
in a speech to the san francisco chamber of commerce clausen said he was absolutely convinced bankamerica would return to its position of preeminence
strata stata 1986 earnings report qualified
the company said the default amount is 57424 dlrs for each 1000 dlrs principal amount of debentures
moodys investors service inc said it may downgrade 120 mln dlrs of debt of piedmont aviation inc because of the airlines agreement to be acquired by usair group inc u the rating agency said its review would focus on the effect of the acquisition on piedmonts financial leverage and its debt service requirements
she said she hoped more economic exchanges between britain and the soviet union will also lead to increased friendship and increased understanding earlier she told a meeting of soviet and british businessmen that she had agreed with ryzhkov that they would work to achieve a total volume of 25 billion roubles in bilateral trade by 1990
yulo told the sra would also protest a usda move to award taiwans shortfall to the dominican republic
work will begin on april 3 and the company aims to increase output to 10 tonnes within a decade to pay off pyongyangs 70 billion yen debt to 30 japanese companies li added
the issue is part paid with 20 stg pct payable on issue and the 76 stg pct balance due on april 27
the white house said it would study the proposal but was generally oppposed to altering the national tax code just passed last year
as early as january 1986 mobutu had warned that one does not feed on austerity and praise
but the forecast for 1986 87 is well below a target of 148 mln tonnes fixed for the year it said adding bad weather hit groundnut and other oilseed crops
two mln silver coins face value five ecus will be sold at 500 francs each
more
ideas being considered included blocking japanese companies from trading in britain and revoking licenses of japanese operations in the london financial district
it earlier said 1986 earnings fell to 1042000 dlrs from year ago 2510000 dlrs
however it said the average for the full year is not expected to be significantly lower than the 299 dlrs per thousand cubic feet averaged in fiscal 1987
agriculture secretary carlos dominguez has also raised objections to the proposed ec tax
despite rapid increases in domestic production over the last 30 years imbalances between supply and demand continue to be extremely serious the farmers daily said
payment is march 26
non callable for three years the issue is rated b 2 by moodys investors and b by standard and poors
a senior abu dhabi oil official said in remarks published today the emirate largest producer in the united arab emirates uae was succeeding in marketing its crude oil without breaching opec accords
june 15 july 15 bill of lading for wheat was offered at 17 over july no comparison no bid
in the first two months of the year inflation was 38 pct against 36 pct in the same period of 1986
the us department of energy said it has awarded bids for about 90000 barrels per day bpd of crude oil from the elk hills naval petroleum reserve in california
cycare systems inc an information processing systems company said it purchased the assets of control data corps medtec unit for undisclosed terms
an earlier pact expires next week draining 85 billion marks from the system
imperial oil imoa a 70 pct owned subsidiary of exxon corp said that effective march five it also raised its light sweet crude posting to 2195 canadian dlrs bbl
banctexas btx to sell affiliate
baldrige said the reagan administration hoped the strong us action against japan would convince congress to tone down protectionist trade legislation now being drafted
okc limited partnership okc sets lower payout
copper shares which have lagged behind the market should pick up steam this year on stronger demand and improving prices for the metal analysts said
brazils hard line debt stance though meeting creditor resistance is boosting political initiatives in latin america aimed at broadening the global strategy regional debt officials and economic analysts say
the us department of transportation dot said it gave final clearance to the proposed 225 mln dlr acquisition of aircal inc by american airlines inc
spain appeals for ec help on maize imports
tempers flared late saturday when a minority group of eight producing countries was not represented in a contact group of five producer and five consumer delegates plus alternates which was set up to facilitate debate
john glenn and john warner in kuwait as part of a gulf arab tour said at a news conference that top officials in the area appeared ready to discuss extra facilities needed if the us upgraded its defense role
the peking owned china international trust and investment corp citic bought the unfinished city garden hotel in hong kong from a subsidiary of cheung kong holdings ltd ckghhkg for 235 mln hk dlrs cheung kong director albert chow said
bally manufacturing said it is considering sale of six flags theme parks
also as part of the issue there is an option for issuance of a 70 mln dlr tap to be offered the following year
he attributed the good surplus on exports of manufactured and semimanufactured goods
it earned 11 mln us dlrs pre tax in its last reported full year 1985 and 60 mln in first half 1986
it was larger than the previous record 304 billion dlrs rise seen in october 1977
world grain trade recovery may be underway
asarco ups us lead price 050 ct to 27 cts
shr profit six cents vs loss 10 net profit 81 mln dlrs vs loss 71 mln sales 5119 mln vs 3978 mln avg shrs 970 mln vs 905 mln year shr loss 38 cents vs loss 110 dlrs net loss 246 mln dlrs vs loss 915 mln sales 187 billion vs 148 billion avg shrs 917 mln vs 898 mln note current year figure includes previously announced 15 mln dlr restructuring charge
swire is developing a large commercial and hotel complex in the central business district of hong kong but it will not provide income until the first stage is completed next year
the cheques were also used as collateral for consumer spending thus generating an informal credit system
payment is april 14
foote mineral co said it signed a letter of intent to merge into rio tinto zinc corp plc for cash
the kingdom of belgium is launching 100 mln swiss francs of seven year notes with warrants attached to buy gold lead manager credit suisse said
piedmont avaition incs board of directors will conduct a special meeting beginning at 1400 est today a piedmont spokesman said
a total of five pct or 508 mln dlrs will be repaid in the second half of 1987 with 35 pct or 400 mln dlrs in calendar 1988 three pct or 346 mln dlrs in calendar 1989 and 15 pct or 166 mln dlrs in the first half of 1990
copper cobalt and other mineral exports account for 95 to 98 pct of zambias foreign exchange earnings and president kenneth kaunda told in a recent interview it was vital for his country to assure new outlets for them avoiding the traditional route through south africa
the pacific stock exchange said it will start options trading on baker hughes inc today
the union rejects employers offers of a 75 pct pay rise over 15 months
the one month yield was set at last weeks 6 3 4 pct while two and three month cds also remained unchanged at 6 13 16 pct
as reported yesterday qintex said about seven mln princeville shares had been tendered in response to the offer
an italian press report today said montedison has agreed to acquire antibioticos for 500 billion lire
nitto boseki launches 60 mln sfr 4 7 8 pct bond
a special two dlr bonus to corn producers who enroll part of their corn base acreage into the program has sparked more interest in this latest signup usda officials said
but he said the operations would be profitable in the longer term
us leading index rose 07 pct in february
coradian corp cdin 4th qtr net
brazils trade surplus its main source of foreign exchange has dwindled in recent months making it difficult to service its debt
shr 126 dlrs vs 67 cts net 7299000 vs 3607000 revs 524 mln vs 407 mln avg shrs 6028755 vs 2408766 note 1985 results restated to include deltona corp dlt investment on equity method
pakistan produced 540 mln kilos of yarn in fiscal year 1985 86 and exported 157 mln
citgo last changed it crude oil postings on sept 9
as the dollar goes so goes the bond market said dean witter analyst karen gibbs
japan us interest rate differentials which currently look wide enough mean nothing in the absence of dollar stability said kawakami
american management systems amsyo 1st qtr net
but the sources said producers who have offered a total of 854000 tonnes of sugar into intervention in an apparent attempt to persuade the commission to set higher maximum rebates have given no formal indication to the commission that they intend to withdraw these offers
chinas trade deficit in january fell to 310 mln dlrs from 460 mln in january 1986 the china daily business weekly said
ames said most of the decline resulted from an inventory shortage at its secaucus nj distribution center
i can only conclude that the common objective of the japanese government and industry is to dominate the world electronics market
the federal statistics office is due to publish provisional national figures for march by the end of this month
but it said that the purchase of ae which was won after a long and acrimonious battle last year greatly strengthened the groups position in the automotive components and engineering materials sectors
parker drilling pkd suspends payout
the january figure was revised from a preliminary 15482
the anticipated total supplies will be about 500000 tonnes above this seasons available amount mielke said
western analysts say that in particular the government is unsure how far to go with dismantling indonesias high cost monopolies which control core areas of the economy
their anxieties stem from the fact that they are allowed to use the land but not own it
weyerhaeuser wy sees higher 1987 earnings
an early renewal of inflationary pressures linked to monetary expansion exchange rate devaluation and an easing of price controls appears not improbable it added
the asset sales and equity offering were part of a recapitalization plan undertaken by the chemicals company last year
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
medar inc mdxr 4th qtr dec 31 loss
enron ene to pay dividends on preferred
chinese port underused despite congestion nearby
smoothed but non seasonally adjusted imports were 810 mln dlrs against 843 mln in january and 890 mln in february 1986
in a filing with the securities and exchange commission investment capital said it sold 280000 shares of capital southwest common stock since september 21 at 1956 dlrs to 2150 dlrs a share
if brazil had not been placed on non accrual which means that interest can be recorded as income only when payments are actually received net interest earnings would have been 5259 mln dlrs and net yield 299 pct
the pentagon said the 12th us protected convoy began moving through the gulf early tuesday
the market has already located a ceiling for the yen and market forces are pushing the dollar back up a bit one senior finance ministry official said
irna said that under the agreement iran will also provide technical and scientific assistance in manpower training and oil exploitation production and refining
instead the administration scaled back the offer to include only the soviets
the repurchase agreement yields compare with the 35625 pct one month commercial bill discount rate today and 36250 pct on two month bills
allied supermarkets inc said it filed with the securities and exchange commission a registration statement covering 240 mln dlrs of debt securities
the ministry of agriculture is concerned about the possible effects on human and animal health the official said
both companies produce and market microcomputer software
ael industries aelna 4th qtr feb 27 net
plessey plyll wins 100 mln dlr us phone order
the traders said the report goes on to say that the profits from the boddington gold with substantially reduce the production costs of the other metals mined at boddington
west german president richard von weizsaecker called on creditor banks to ease pressure on argentinas foreign debt repayment terms
under new guidelines if the first two restricted deliveries move the 60 cent limit for two days the exchange will expand the limit
sallie mae said semiannual interest payments and principal at maturity will be paid in australian dollars adding it will enter into a separate currency and interest exchange agreement to convert its payment obligations to us dollars
in the last three months period manufacturing productivity was up 67 pct having increased 65 pct in the first quarter
disney family company
usda general sales manager melvin sims said the commodity credit corp accepted one bid from cam usa inc on a sale of 18000 tonnes of durum wheat
the issue will be co led by banque nationale de paris caisse nationale de credit agricole and the societe marseillaise de credit
iwc lifts world grain output estimate to record
thyssen ag thyhf expects a fall of between 15 and 20 pct in consolidated turnover in 1986 87 chief executive dieter spethmann said
china calls for better trade deal with us 
first data management co inc said it has completed a merger into firsst data management holding co following sharehoplder approval
samjens lawyers discounted the concern
qtly div 18 cts vs 14 cts prior pay march 31 record march 25
the company said it has also agreed to let purolator pay all of pc acquisitions documented expenses in connection with the merger agreement up to three mln dlrs and emery has agreed to pay the amounts itself should purolator fail to do so
weatherford said this will be the sixth non payment of the dividend on the stock
1985 net excludes 32 ct shr loss from discontinued operations
heinz interested in buying guinness brewing
the spokesman described mondays talks which he called private as very positive
allis chalmers carries b minus senior debt and c rated preferred stock
sumita said the bank will take adequate measures including market intervention if necessary in line with the february 22 paris agreement by six major industrial nations
london metal exchange lme prices are unusually buoyant at a time of year when seasonal demand is normally slackening and prices tending to drift lower
consumers power cms debt raised by s p
san miguel corp smc and united coconut planters bank ucpb have reached a compromise on a disputed block of 381 mln shares of smc the head of a government panel that controls the sequestered shares said
a minimum of 200 warrants must be exercised
corning glass works subsidiary corning international corp said it agreed to transfer 55 pct of its capital stock of an argentine glass manufacturer to a european group
the competition is stiff not only from other foreign investors but from the brokerage houses and us oil companies he said
acceptance insurance holdings inc acpt year
last years results were up from 1985 operating profit of 80 mln dlrs and sales of 173 billion dlrs
webb properties corp unit sold one half of its interest in the 224 acre towne meadows mixed use development near mesa and gilbert ariz to klukwan inc an alaskan native cooperative
wainoco said the offering will be underwritten by ef hutton and co inc kidder peabody and co inc and smith barney harris upham inc
japanese subsidies have dropped sharply since then partly because of tight budgetary policy and foreign currency factors have also changed he said
the failure of farm ministers this week to come to an agreement resulted in no bids at this weeks tender for export subsidies and traders said bids are unlikely as long as the uncertainty remains
soviet 1986 87 coarse grain production is estimated at 10330 mln tonnes vs 10330 mln tonnes last month
the market is expected to continue at around these levels reflecting the current 10 pct base rate level for some time
the department revised downward decembers sales to a 121 pct rise to 768000 units from the previously reported 127 pct increase
the department is scheduled to release the new estimate at 1500 hrs est 2100 gmt today
shr loss nine cts vs profit two cts net loss 397000 vs profit 76000 revs 3763000 vs 6467000
more state companies have sought the ministrys permission to issue them in coming months
no further details were immediately available
the fare will rise to 379 dlrs in high season beginning june to september and compares with a regular unrestricted one way economy fare of 944 dlrs on canadas major airlines nationair said
corrected austria 1987 growth forecast revised
devon resource investors said as of january one its estimated proven reserves increased by 443000 net equivalent barrels to 324 billion cubic feet of natural gas and 660000 barrels of oil compared with 295 bcf of gas and 700500 barrels of oil as of jan one 1986
he said he has extended the expiration of the offer until april 14
arland stangeland r minn is reported to have an amendment to expand the 0 92 provision to 1987 and 1988 feedgrains
allegheny beverage says group interested in acquiring its service america corp unit
interest on the credits will be paid at market rates
our willingness to participate in this multilateral short term financing indicates our support for argentinas economic program to achieve sustainable growth and a viable balance of payments position the treassury statement said
the bass group which holds 249 pct of taft said it had talked with other taft stockholders and some company managers and directors concerning participation in a group to acquire control of the company
deposits of non bank customers also fell in january to 3044 billion dlrs from 3061 billion in december but rose from 2833 billion in january 1986
in the 12 months to end january industrial production was 1048 pct above the 12 months to end january last year while in calendar 1986 output was 1089 pct above 1985
moore said one aim was to instil a sense of political urgency to avert potential economic tragedy another was to seek ways of popularising freer trade to people who felt the pain of readjustment but could not see the benefits as well as preventing bush fires of confrontation while we proceed with orderly negotiations the meeting is being attended by 25 overseas delegations including representatives of gatt and the economic community
before seasonal adjustment the index for finished goods stood at 2923 over its 1967 base of 100
metal bulletin zinc producer price
chartered bank general loans outstanding rose 481 mln dlrs to 12499 billion dlrs
period ended may 31 shr loss five cts vs loss 11 cts net loss 306007 vs loss 102420 sales 110522 vs 10105 note full name is data med clinical support services inc per share data adjusted for three for one stock split payable june 30 1987 the only sales reflected in fiscal 1987 period are sales recorded subsequent to the may 22 1986 acquisition of the assets of a predecessor company by data med
prices have fallen so far that only about five firms still make markets in them
the statement said the agreement in principle gave each side 30 days to put together a definitive accord
qtly div three cts vs three cts prior pay april three record march 13
for example the recent large sales of wheat to china 15 mln tonnes and egypt 20 mln tonnes were well below the breakeven export price it said
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
its just a question of managements willingness to let the process continue said one arbitrager
japan seeks record low 47 pct april bond coupon
net buying hit a record 155 billion dlrs last december
smithkline whose major product is the antiulcer medication tagamet said in the report that it intends to improve earnings from existing products expand its product portfolio and optimize its financial resources
comalco says lower costs helped return to profits
investments in the communications industry would go mainly to develop the groups cable television activities and its 25 pct owned metropole television affiliate
topps had been public once before but went private in a leveraged buyout in 1984
turnover in the coffee business fell to 310 billion francs from 356 billion in 1985 while turnover in the chocolate sector rose to 214 billion francs from 182 billion
in a separately released letter to csr shareholders kelman said csr was within days of completing plans for the float of csr petroleum when it received an offer from esso
internatio mueller acquires canadian company
the usdas weekly export inspection report is expected to show steady corn and wheat exports and lower soybean exports according to cbt floor traders forecasts
the company ended up recording special charges of 21 billion dlrs in the fourth quarter leading to a loss of 202 billion dlrs for the year
the acquisition which is subject to canadian government approval would be through amalgamation into a specially created company
chemlawn corp and ecolab inc said they signed a definitive merger agreement under which ecolab will buy all outstanding chemlawn common stock for 3650 dlrs a share in cash for a total of about 370 mln dlrs
leutwiler who served 10 years as head of the swiss central bank said such a step would not contradict the national banks target of monetary stability
funaro said yesterday that us banks holding 35 pct of brazilian debt were over represented on the 14 bank advisory committee with 50 pct of the committee seats
baker sees 15 to 20 billion dlr drop in trade gap
australian unions and nsw government reach deal
luckey said the banks total operating profits rose nearly 29 pct in 1986
although alaska housing finance will set the interest rates relative to libor for the euronotes merrill lynch noted that it would not seek to issue the notes with a margin in excess of 02125 pct per annum
lawson told journalists that the prospects for the uk economy look very very good providing we can avoid a trade war he stressed that a heavy responsiblity in different ways lies on japan and the united states to ensure that we do avoid such a trade war asked whether he believed such a trade war could be averted lawson replied i very much hope so britain last week warned that it would retaliate if japan did not move soon to open its markets to outside competition
bankers trust bt puts brazil on non accrual
other sources said they expect the dialogue to continue
mcfarland mcfe to buy petrominerals ptro 
us law requires that at least 75 pct of shares in a us airline be owned by american firms or persons the spokeswoman added
state owned aerospace group aerospatiale said it will make an issue of euro commercial paper next month backed by a 400 mln dlr seven year revolving credit facility granted by 44 banks in december 1986
argentina has said the barriers and subsidies cut unfairly into the countrys traditional markets for its grain exports
in january taiwan reduced import tariffs of up to 50 pct on some 1700 foreign products
they brazilian exporters are very interested in the canadian market because its an untapped market brennan told reporters after a speech to the brazil canada chamber of commerce
sri lanka is the worlds second largest exporter of dessicated coconut after the philippines
santos said the well was cased and suspended pending further evaluation
the latest requests for the maize were for export to switzerland austria and lichtenstein at a maximum daily rebate prefixed last friday at 141 ecus a tonne against a previous 20 ecu daily rebate
computer memories cmin sets film firm merger
the bank of england said it had invited an early round of bill offers from the discount houses after forecasting a shortage of around 12 billion stg in the money market today
last week there were rumours in european markets that indonesia had issued licences to import around 135000 tonnes of palm oil for deliveries commencing april
under the foreign exchange auction system introduced in 1985 zccms profits from its foreign exchange earnings rose as the value of the kwacha fell to 21 to the dollar from just over two to the dollar
the association of white metals has decided to publish a daily tin price here in french francs per 100 kilos the french federation of non ferrous metals said
he said that the average premium of shares trading on the bourse was between 15 and 30 pct over their offer price
trading companies have also been hit some caught with huge inventories of construction equipment as recession bit
it gave no further details
the company also said its long term debt was reduced by about 15 billion dlrs from the third quarter to the end of the year by asset sales and equity offerings
conable in a wide ranging television interview to be shown on public broadcasting tomorrow said brazil now has the attention of its creditors and must come up with a plan designed to reform its economy
first there are supply concerns
he told a lower house budget committee in parliament that it was natural for other nations to think that japan is not doing enough because of the delay in the passage of the 1987 88 budget
the meeting is set for saturday but could also continue on sunday he said
emulex corp emlxo 1st qtr sept 27 net
lloyds bank nza ltd chief economist will buttrose said the 42 mln dlr trade surplus was encouraging as were imports at 277 billion dlrs down from 299 billion in january
y includes imports
oper shr 36 cts vs 39 cts oper net 1391000 vs 1485000 revs 616 mln vs 585 mln year oper shr 70 cts vs 116 dlrs oper net 2677000 vs 4410000 revs 2076 mln vs 2002 mln note 1986 net excludes extraordinary loss of 297000 dlrs or eight cts shr vs yr ago gain of 514000 dlrs or 13 cts shr
hi net they added will continue to provide programming to holidays hotels
the tariffs were placed on items which were available from other sources so there would be little effect on the american consumer fitzwater said
the shortfall for the full year rose to 881 billion dlrs from 1985s 584 mln dlr deficit the federal agency said
last year it lost 1079000 dlrs on revenues of 720000 dlrs
net profit was 220 mln guilders in 1985
atcor inc atco cut dividend
the us presented its case for the first time to the aircraft committee of the general agreement on tariffs and trade gatt during a special two day session ending today
they said 1987 maize deliveries are expected to decline to around 520000 tonnes from 16 mln tonnes last year
in its productive life recovered average grade at bulolo was 03 rpt 03 grams a tonne from some 207 mln cubic metres of gravel it said
exchange seen approving when issued gilt trade
bank dealers said the taiwan dollar has stabilised against the us currency this week after rising two to five taiwanese cents a day between june 2 and 13 compared with a rise of five to eight cents in may
shr 30 cts vs 73 cts net 3992000 vs 852600 nine mths shr 172 dlrs vs 174 dlrs net 22110000 vs 20379000 avg shrs 13459000 vs 11740000 note prior nine month figures include extraordinary after tax loss of 109 mln dlrs or 93 cts per share
the bank said it will continue its policy of not charging any annual fee or transaction fees to credit card holders
employment in manufacturing during fiscal 1987 88 was predicted to fall 550000 from the current year due to higher job losses in the steel shipbuilding and heavy electrical machinery sectors nomura said
however an accident recently damaged the wagon ferry which plies between kisumu and the ugandan port of jinja causing bottlenecks on the lake route too
production from these idled acres would be equivalent to 40 mln bushels of wheat 180 mln bushels of corn 20 mln bushels of sorghum 10 mln bushels of barley and 500000 bales of cotton the report said
the strike the only copper industry stoppage staged in the past 13 years marked the start of a wave of protests against the military rule of president augusto pinochet
the company said it will redeploy its service assets into manufacturing and distribution
west german aid to bolivia last year totalled 50 mln marks and officials travelling with president richard von weizsaecker said overall aid to bolivia is expected to reach 91 mln marks this year
in selling to retail investors or smaller institutions you have to make a lot more telephone calls an investment banker pointed out
he said there was virtually no room for further monetary policy action to boost the economy
the agricultural stabilization and conservation service ascs is seeking offers to process rough rice owned by the commodity credit corporation ccc and deliver about 270 mln pounds of milled rice for export shipment may 6 20 and may 21 june 5 an ascs spokesman said
allis chalmers restructuring plan would include the sale of its fluids handling and solid materials processing businesses s and p noted
swiss national bank says it bought dollars
he said the two parties would share the patent and give 80 per cent of the royalties received to the new foundation
government cash balances fell 565 mln dlrs to 431 billion dlrs in week ended march 4
humana hum to sell medical offices
talk also circulated that the bank of england purchased a small amount of dollars for yen
the company said hci will continue to operate its beverly plant as a subsidiary of microsemi
it also said that based on current trends its largest division should report vastly improved second quarter traffic compared to last year which resulted in a load factor of 457 pct for the second quarter of 1986
usair group inc said in announcing the final proration factor for its tender offer for piedmont aviation inc pie that 170 mln shares or 90 pct of the shares were validly tendered
but the banks saw in warrants the vehicle for a more highly leveraged play where the downside risk was limited
a facsimile machine sends printed data over telephone lines while a key telephone system is used for switching calls within a business industry sources said
one or two large west german banks effectively drained the domestic money market of liquidity at the end of the month in order to achieve higher rates from their overnight deposits money dealers said
us attacks on two iranian oil platforms in the gulf both of which were still blazing caused damage estimated at 500 mln dlrs tehran radio quoted iranian oil minister gholamreza aqazadeh as saying
south korean trade minister rha woong bae said his nation would maintain a trading surplus for three to five years as a way to cut its foreign debt
dominion calls burlington bur report rumor
we see it that way but we dont like to seem arrogant said a senior official who declined to be named
credit foncier de france said it will issue on wednesday around 500 mln francs worth of specialised financial institution bonds bifs this second issue of eight pct bifs maturing on december 23 1993 are identical to the 535 mln franc issue of bonds issued last month
crane co said it acquired certain assets of chicago heater co inc a wholly owned subsidiary of the marley co the terms of the transaction were not disclosed
selling was described as relatively modest although very few buyers appeared to take up the slack
the dollar is likely to stay within a range of 180 to 184 marks said gisela steinhaeuser senior dealer at chase bank ag
the composite index is a seasonally adjusted figure based on five components of the napm business survey new orders production vendor deliveries inventories and employment
current nine mths net includes after tax provision of five mln dlrs for consolidation of food plants
colombia denied having sold 440000 60 kg bags of old crop coffee below current market prices to clients in europe and asia
it said voting will be conducted at its annual shareholder meeting on june 24
imf assures kenya of maximum help
pegasus estimated 1987 production at the zortman landusky mine will be about 80000 ounces of gold and 225000 ounces of silver
us agriculture secretary richard lyng said this week he will ask japan to remove all beef import restrictions when he visits here next month
drill sites have been established and a diamond drilling program consisting of an initial 5000 feet of drilling began october 13 the company said
the port and transport union fnv is to challenge the redundancies in an amsterdam court tomorrow
but ec oilseeds production has risen dramatically since then
the warrants are exerciseable over the next three years at 1950 dlrs per share of common stock according to exovir
some traders said the buffer stock manager may delay buffer stock buying until mid or end april when changes in months used to calculate the icco indicator may lift the 10 day average above the 1600 sdr must buy level
west german finance minister gerhard stoltenberg declined to comment on whether unpublished target zones for currencies agreed at last februarys louvre accord had been changed as a result of the meeting on monday with us treasury secretary james baker
he currently owns 58 pct of uccel
each common share would be entitled to at least the same dividend as each class b share which would not be freely transferrable for five years but could be converted share for share into common at any time
qtr ended jan 31 shr 116 dlrs vs 115 dlrs net 324 mln vs 335 mln revs 6290 mln vs 5386 mln avg shrs 321 mln vs 292 mln 12 mths shr 235 dlrs vs 229 dlrs net 745 mln vs 669 mln revs 185 billion vs 160 billion avg shrs 317 mln vs 292 mln note shr avg shrs data show 2 for 1 split in nov
the schedule stipulates the premiums and discounts used for valuing grain the ccc accepts or purchases during the year
but he said there was a need to spell out government policy especially on prices
he said a new development strategy fuller use of oil deposits and better housing and pay for oilmen had allowed an upsurge in the oil industry after three years of stagnation which began in late 1983
bhp said the petroleum division earnings fall reflected generally lower oil prices and sales volumes from bass strait while the steel decline was due to a five pct fall in domestic sales and higher costs associated with the commissioning of new plant and some operational difficulties
domes statement said the transcanada announcement violated the terms and spirit of a confidentiality agreement entered into with prospective purchasers and was apparently timed to prevent dome from considering other proposals
the government announced plans to build the icebreaker last year following the controversial passage of the us coast guards vessel the polar sea through the disputed northwest passage
this compared with a year on year rise of 27 pct in january the lowest for 25 years and was the highest figure since october
the dividend will be distributed on april 13 to holders of record march 30
coastal has requested its plan and disclosure statement be set for hearing in bankruptcy court judge manuel leals court on april 28 and 29 along with the transamerican plan
the committee backed by committee chariman fernand st germain d ri and house speaker jim wright d tex voted 25 24 to change the amount of borrowing authority
turnover and net profit in 1986 were hit by the dollar which fell to an average 246 guilders from 335 in 1985
parliament also granted an 800 mln crown cash infusion to ease cash flow problems that arose when the bank lost 600 mln crowns in a shipping firm bankruptcy two years ago
shr 15 cts vs 15 cts prior qtr pay june one record april 24
in a release standard and poors said the action reflected a change in the note issues terms to an unsecured form of debt from secured
south africas total gold and foreign assets rose by 700 mln rand in february to 62 billion rand after rising by almost one billion rand in january reserve bank governor gerhard de kock said
brown noted the 1986 first quarter net included a 17 cts gain from loan restructurings which will not appear this year
he said the offer and withdrawal rights will expire at 1630 est 2130 gmt march 30 1987
texas instruments inc one of the few us semiconductor producers expected to benefit directly from the reagan administrations actions to curtail japanese dumping of chips received a reaffirmed buy recommendation from smith barney today
but it has been far from panicky said another trader
it might be wise for c and w to join the new firm which has the support of many influential backers and work within this for the realization of their ideas watanabe told reporters
healthvest hvt buys tennessee medical complex
spot tin on the european free market was indicated in the easier range 4200 to 4230 stg per tonne for high grade metal in warehouse rotterdam down 20 stg from yesterdays afternoon kerb close
the agency cited ecolabs definitive agreement to acquire chemlawn for 370 mln dlrs
in a filing with the securities and exchange commission atlantis said it has informally discussed a business combination with charter crellin management
chicago mercantile exchange floor traders and commission house representatives are guesstimating todays hog slaughter at about 285000 to 300000 head versus 292000 week ago and 309000 a year ago
quaker oats co said its stokely van camp inc subsidiary will retire on may 15 its 10 1 4 pct sinking fund debentures due may 15 2000
gatt round may stop growing trade problems us 
british authorities are also understood to have intervened to curb sterlings strength
to solve this problem and to streamline the cumbersome negotiating process argentina has revived the idea of exit bonds which would be issued at a discount to small creditors in exchange for their existing debt bankers said
before the transaction with hutton lbo was announced analysts had also speculated another courier company would be the most likely suitor
for the stock dividend ivey said it will pay for fractional shares at 25 dlrs per share
enserchs stock closed at 22 1 2 last night on the new york stock exchange
all atpc members except zaire and australia recently agreed to adhere to the export quotas allocated them under the plan
aramcos only refinery at ras tannurah processed 14244 mln barrels 390246 bpd of crude last year
inco closed 1 3 8 lower at 19 3 8 in second most active trading on the toronto stock exchange
the first significant pickup in drilling activity will occur in the second half of 1988 kerridge said
economists said the fed appears to be very comfortable with its current policy stance and it is likely to wait for perhaps several more months of economic data before deciding whether or not to ease its grip on reserves
operating loss 696 mln francs vs 146 billion
if there is no frost damage to its coffee crop over the next two months and most other producers favour our proposal we might just get an agreement van horick added
korea plans to open markets to ease won pressure
the previous target for 1987 was 181 tonnes
on the import side the main decreases were falls of 17 pct in machinery and transport equipment and 21 pct in fuels the bureau said
the balance of the second payment will be made six weeks after the end of crushing another demand of fijis 22000 small farmers was that an estimated 14 mln dlr loan from the fiji development bank fdb for the 1983 cane crop rehabilitation programme be written off
the cumulative current account deficit for the first eight months of fiscal 1986 87 ending june 30 widened to 937 billion dlrs from 932 billion a year earlier
the write downs reduced income by 746 dlrs per limited partnership unit
so far 30 pct of the groups capital currently at 1033 mln shares of 100 francs nominal has been offered for sale to large private investors to constitute a solid core of eight to ten shareholders before the flotation
the new airline canadas second largest will have 81 planes flying to 89 destinations in 13 countries
the far eastern sugar market is being hit by a tightening in available nearby freight space needed to move raw sugar to various destinations notably from thailand traders said
prices are most likely to rise in the fourth quarter on european and us stockbuilding for winter they added
burns fry chairman jack lawrence told the newspaper the investment dealer has not made a final decision but was examining three or four alternatives discussions between brokers about possible mergers is to be expected pending industry deregulation one investment industry source who asked not to be named told 
the fed said net discount window borrowings in the two weeks ended wednesday averaged 191 mln dlrs up from 381 mln dlrs in the february 25 statement period but little changed from 160 mln dlrs in the period before that
the trend continued in the first three months of this year as exports dropped by 178 pct in hard currency terms to 2124 billion dlrs
lead managers are credit suisse first boston ltd and cazenove and co
it said under the plan shareholders of record as of april 21 will receive a right to purchase under certain circumstances at a price of 42 dlrs 001 preferred share for each common share held
it said the acquisition is subject to approval by fox shareholders and is expected to close in mid august
nakasone sumita agree rate cut not appropriate
with the completion of the transaction dixons will proceed to pay 95 dlrs a share to the remaining cyclops shareholders
the national thermal power corp ntpc was the first government company to issue the bonds to raise one billion rupees in january last year breaking the monopoly of private companies on the capital market
but companies capital gains will be charged at the appropriate corporation tax rate he said that under the new proposed system companies should be able to set advanced capital tax act payments against tax on capital gains
the accord effectively extends a moratorium on most repayments of 13 billion dlrs of south africas short term foreign debt
further escalation of the war threatening the gulf arab states could work against tehran at the amman gathering they said
asked by opposition members to clairify finance minister michael wilsons statement on friday that petro canada no longer has any pubilic policy role mulroney said his government has long promised to sell off companies that could be better run by the private sector
japan rejects us objections to fairchild sale
bf goodrich co said it will phase out the production of aircraft tires missile and marine products and molded rubber products in akron ohio by the end of 1987 laying off about 790 salaried production maintenance and support services employees
the commercial banks have much to gain from taking the lead themselves to develop the kinds of ideas that help assure the concerted lending process works he said
the administrations decision to set the subsidy level up front instead of accepting bids from exporters appeared to be a means of controlling the price while attempting to dampen criticism grain trade sources said
these included shipments to western options at 205 mln tons against 359 mln previously
miyazawa says g 7 still strongly supports louvre accord
opec agreed this weekend in vienna on an output ceiling of 166 mln barrels per day bpd for the rest of 1987 and retained the fixed prices that were set in its december accord based on an 18 dlr per barrel reference point
besides the bass group another major taft shareholder cincinnati ohio financier carl lindner has also said he has had talks about increasing his stake in the company taking part in a takeover effort or launching one himself
for mellon and security pacific s and p cited higher non performing assets and weaker operating earnings
damon creations inc dni 4th qtr jan three net
sonex research inc said its modified 1986 british ford escort passed the european emissions test but reported the engine consumed 35 pct more fuel than the stock engine
singapores united industrial corp ltd uic has agreed in principle to inject 16 mln dlrs in convertible loan stock into teck hock and co pte ltd a creditor bank official said
co lead will be privatbanken
news of a meeting between us treasury secretary james baker and west german finance minister gerhard stoltenberg on monday soothed currency markets allowing the dollar to recoup much of the days losses dealers said
inland vacuum industries inc ivac 1st qtr net
an optimal tariff would be one implemented only if the international price of crude oil falls below say 15 dlrs a barrel
ranco produces automatic control devices and power controls that regulate temperature pressure time sequencing current fluid flow and humidity
it argues there might be instances in which a country needed the money to continue its moves toward us policies in other areas
prev qtr and year includes tax loss carryforwards of 469000 dlrs and 1902000 dlrs respectively
o
with gross domestic product likely to grow only 21 pct this year the same rate as last year unemployment could climb to 115 pct of the workforce by mid 1988 from its present 109 pct it said in an annual review of the french economy
french caisse nationale des autoroutes issues bond
nakasone is widely expected to present a package of measures to president reagan to help contain us frustration over japans large trade surplus
the housing report is seasonally weighted to compensate for weather related setbacks
rexham corp said it has repurchased 381050 of its shares or 91 pct from nortek inc for 42 dlrs each and nortek has withdrawn its proposal to acquire rexham for 43 dlrs per share
cooper development co bugs 1st qtr jan 31 net
the global economy is expected to weaken this year adding new worries to an already serious poverty outlook economic analysts said
although baker appeared to patch over the rift at a hastily called meeting with west german officials monday he still faced a storm of criticism on his return to the united states on tuesday
western business sources in shanghai said the project involving the construction of 14 km of tunnelled track had been discussed for over 20 years adding it was expected to cost at least 750 mln dlrs
conoco was the last company to raise prices following a series of increases initiated last week by sun co sun which reversed the posted price cuts made at the end of february
the expanded program will serve the industry because the oil market does not close when nymex does said frank capozza secretary of century resources inc
dresdner bank economist alfred apholte said the soviet unions large currency and gold reserves had softened the impact of the dollar weakening and oil price drop
in coarse grains japans subsidies reached 1071 pct compared with 279 pct for the ec and 131 pct for the us japans beef subsidy was 549 pct versus 527 pct for the ec and 95 pct for the us oecd concluded
the agreement simply helped it on its way
iranian oil minister arrives in algeria
medtronic inc mdt sets quarterly
first quarter 1987 exports rose 36 pct to 94 billion dlrs
the paper said the price paid for corn from 14 northern provinces cities and regions has increased by one yuan per 50 kg
while the two pct gdp growth forecast set by the cpb is within its latest forecast issued last month of 15 to two pct growth the figure is well above recent market estimates
partial operating profit 1826 mln marks vs 3137 mln
china called on the united states to remove curbs on its exports to give it favourable trading status and ease restrictions on exports of high technology
any european community decision to liberalise farm trade policy would hurt thailands tapioca industry said ammar siamwalla an agro economist at the thailand development research institute tdri he told a weekend trade seminar here that any ec move to cut tariff protection for ec grains would make many crops more competitive than tapioca in the european market
the world bank said it approved a 140 mln dlr loan for india to help lessen that countrys dependence on imported oil and spur development of its own petroleum resources
winter grains in england france and northern italy remained dormant
the world bank said it has loaned mexico 400 mln dlrs to help support an agricultural credit project
however she said the us remains a supplier of last resort for the soviet union noting that the soviets have only just recently begun their first us grain purchases of the 1986 87 season by buying 225 mln tonnes of corn
first quarter exports rose to 1125 billion us dlrs from 838 billion in the same period in 1986
union pacific corp said it will enter a 50 50 partnership with petroles de venezuela pdvsa to own and operate union pacifics 160000 barrel per day corpus christi texas oil refinery
a report in the washington post caused a stir in the foreign exchanges today because it gave the impression dealers said that the underlying trade deficit for february had been revised downward
halikias said he was fairly optimistic greece would reach a current account deficit target of 125 billion dlrs this year
nicanor araya a member of the popular democratic movement mdp was named president of the chilean confederation of copperworkers ctc which groups 22000 workers employed in the state owned copper mines union officials said
the 0 92 program which would allow farmers to forego planting and still receive 92 pct of their deficiency payment would be most used by producers in high production high risk areas where cost of production is high said keith collins director of usdas economics analysis staff
if its a by product of freer competition we have no choice but to accept it the council is due to close its discussions on june 12
traders said the report notes that earnings from australian gold holdings could be worth about 35 cts to 55 cts a share this year and 140 dlrs to two dlrs a share in 1988
moodys said its review would focus on home shoppings future capital structure and examine the added risk associated with the companys commitment to diversify its product line to include financial services
last december a 120 pct increase in the consumer price for refined maize meal a zambian staple led to food riots in which at least 15 people died
ownes illinois holdings corp filed with the securities and exchange commission for debt offerings with principal amounts totalling 205 billion dlrs
federal deposit insurance corp chairman william seidman said he would be concerned about the impact on banks of a further sharp rise in interest rates
trade sources said the lmes new contract will conform with existing industry practice where 9970 standard re melt material priced in dollars is most commonly traded
transfer payments narrowed to a 140 mln dlr deficit last month from a 185 mln deficit a year earlier and a 225 mln deficit in january
observers in the capital expressed disillusionment with the small extent of the price cuts which ranged up to 10 pct on items such as blankets soap detergents and baby food
the bond will have an issue price of 101 1 8 pct and for the first five years it will carry a nine pct coupon
kawasaki steel international finance plc is issuing a stepped coupon 30 mln dlr eurobond due march 26 1994 priced at 101 7 8 pct lead manager wako international europe ltd said
general electric ge 1st qtr helped by rca
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
tsr inc tsri 3rd qtr feb 28 net
the average estimate index seasonally adjusted and based 1980 was set at 1143 in the fourth quarter of 1986 against 1135 in the previous quarter and 1107 in the final quarter of 1985
the stake includes 782000 common shares and cumulative convertible preferred stock which could be converted into 100507 common shares
argentina will tell its creditors it needs an extension of deadlines for payment of capital and interest on its 50 billion dlr foreign debt industry and foreign trade secretary roberto lavagna told reporters
us officials want the banks not only to consider swapping their debts for equity in local corporations a development that has already met with success in chile and mexico but to pin loans on specific projects finance trade and invest directly in debtor country private sectors
belgian total money stock rose to 11404 billion francs at the end of 1986 from 11154 billion at the end of the third quarter of last year and 10550 billion at the end of 1985 belgian national bank figures showed
in new york noted
the rise compared with a 09 pct rise in january
the south african reserve bank confirming previous estimates said real gross domestic product in the 1986 fourth quarter grew at a seasonally adjusted annual rate of 47 pct versus 46 pct in the third quarter and 13 pct in the 1985 final quarter
the shares involved in the proposal were part of the block of 38 mln shares owned by the united coconut planters bank ucpb and sequestered by the government
first union corp said it has agreed to acquire first state bancshares inc of pensacola fla and its first state bank of pensacola subsidiary for about 457000 common shares
australian gas light co counter bids for tmoc
cash distribution 39737 cts vs 30577 cts pay april 14 record march 31 note trusts full name is permian basin royalty trust
poehl was born in 1929 and worked as a financial journalist in the 1960s before starting his ministerial career
the debentures will be convertible into noranda common shares until april 29 2007 at 35 dlrs per share
questech inc qtec year net
the indicated coupon on friday was 5 3 4 to six pct
renta inmobiliaria seeks cannon group can assets
it was imperative that alternative options be considered
yugoslavia seeks two billion dlr refinancing
sumita also said the economy will show a gradual upturn in the second half of the year if the yen remains stable
april 30 end shr loss one ct vs loss two cts net loss 83116 vs loss 266037 sales 1393455 vs 1035500
the cumulative current account surplus for january and february 1987 totalled 113 billion marks against 114 billion marks a year earlier the statistics office said
it also agreed he may waive any retaliation if it would hurt the us economy
finlands medical group instrumentarium oy inmrhe said it has acquired electronics components importers and marketers ferrado oy and insele oy subsidiaries of finlands electronics group nokia oy nokshe it said in a statement ferrado and insele will be merged into instrumentariums professional electronics and information systems division
mobil said the operation will consist of two new units technical services and application technology along with the existing drilling and new exploration ventures groups
finance minister dilson funaro said in a television interview that it was absolutely important for brazil and its creditors to renew the short term credit lines as brazil must finance its exports
preussag says payment of a 1986 dividend not certain
they said the bank seemed more determined to support the dollar than it did this morning
dealers pointed to the recent caisse daide a lequipement des collectivites locales caecl 890 pct two billion franc bond with warrants exchangeable for floating rate bonds issued over 13 years and 80 days at 9704 pct with payment date march 9 which was today quoted at 090 to 110 pct
the national weather service said warnings of gale force winds remained in effect over lakes erie huron and michigan
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
they named kuwait and the united arab emirates along with the much smaller producer ecuador among those producing above quota
gurantees subordinated debt is currently rated b
one power project will be supported by a 485 mln dlr loan the bank said
his plea in an interview with and the television news agency visnews came ahead of a state visit he will make to britain later this month
pacific western airlines corp said the airline resulting from the previously announced merger of its pacific western airlines ltd unit and canadian pacific air lines ltd would be named canadian airlines international ltd effective april 26
prices recovered to keep pace with higher cash prices
irving bank v cites loans in earning decline
a group led by members of the wealthy bass family of fort worth texas which holds a 249 pct stake in taft broadcasting co said it has had talks about taking part in a move to take control of the company
ethanol is produced primarily by a few large agribusiness firms including archer daniels midland adm and ae staley
the letter of credit has a five year term with an evergreen feature allowing for extension at the support banks option
he said 61 billion dlrs of the 15 billion has so far been raised as development loans
sows will not constitute good delivery against the standard contract until september 1 and 995 pct purity sows are not good delivery and cannot be placed on lme warrant
mark iv corrects agreement with baird batm 
apart from the commercial branch in duesseldorf sumitomo has a rep office in frankfurt but both are primarily engaged in commercial banking
it added a shelf registration statement for up to 500 mln dlrs of debt securities to be used in part for the debt refinancing is expected to be filed in the near future
thailand reduces main rice crop projection
remarks by central bankers raised some hopes the bundesbank will cut rates on securities repurchase pacts but operators remained divided on the likelihood of a move in the near term money market dealers said
dome also said the write downs included a fourth quarter reduction in the value of its oil and gas properties of 120 billion dlrs before a reduction in deferred income taxes of 305 mln dlrs
viacom says federal court rejects request to block planned merger
it said it has the non cumulative option to retire an additional 25000 shares on any sinking fund payment date
harper also said that new world pictures a shareholder has requested a copy of harpers shareholder list to be used in soliciting proxies
the gold has to be extracted and first someone has to come up with the money to finance the operation the official who asked not to be named told
the company said resolution of this disagreement with its auditors came as a result of securities and exchange commission involvement
caltex petroleum corp said it will raise posted prices for naphtha and several grades of residual fuel in bahrain effective march 25
late last month social affairs minister louw de graaf said unless the dispute was settled by yesterday he would withdraw the sectors 10 mln guilder annual labour subsidy
the issue will be listed in luxembourg and is available in denominations of 1000 and 10000 australian dlrs
the big story is the inventory re building thats going on now not all of which is intentional he said
producers are beginning to find themselves more competitive and they are increasing output wyss said that the latest data point to an average industrial production gain of 03 04 pct in the first quarter
the bank of england said it revised its estimate of todays money market shortfall to around 350 mln stg from a flat position
finance minister beshir omar presenting plans to parliament last night put the budget deficit at 288 billion pounds against 285 billion in 1986 87
usair u in credit pact with commercial banks
the leaders of two of japans top business groups said in separate statements the group of seven g 7 accord reached in washington yesterday is of deep concern to japan because it shows the major industrial nations regard the yens current level as appropriate
sandoz has not given any figure for claims which have been flowing in from switzerland and other countries bordering the rhine since the accident
italian industrial production fell 34 pct in january compared with the same month last year the national statistics institute istat said
the non callable bond is available in denominations of 1000 and 5000 australian dlrs and will be listed in luxembourg
timber realization trx to sell remaining acres
the jardine group has nearly completed its reorganisation with jardine matheson transferring its control of hk land to the new unit jardine strategic holdings ltd jardine strategic will also hold majority stakes in the two companies spun off from hk land mandarin oriental international ltd and dairy farm international holdings ltd plus cross holdings with jardine matheson
the market is beginning to feel there may be demand at the beginning of the fiscal year in japan on april 1 quinn said
but edward e
the holders none of whom was willing to be identified said although harcourt has urged that they convert their shares to common stock by the june eight record date for a special dividend they were unable to determine if it might be better for them to continue holding the debentures
a spokesman for the port of santos which has been the scene of labour unrest and congestion in recent months said movement of ships out of the port was running at about half its normal level of 12 ships a day
volcker says exchange rate adjustment enough to narrow us trade deficit
automation and incentives tied to profit sharing have been used with success he said
computer devices inc 4th qtr
gulf states gsu sees end to cash by may
the company said that if it elects to redeem the 1987 preferred it must pay holders 123 mln dlrs in cash
chinas first joint venture bank reports profit
union national corp unbco 3rd qtr net
share adjusted for three for two split in august 1986
divestitures had been expected since lear siegler a diversified conglomerate was acquired last december in a 21 billion dlr leveraged buyout by the wall street firm of forstmann little
shr profit 22 cts vs loss 22 cts net profit 430373 vs loss 433395 sales 7723838 vs 6219157 nine mths shr profit 49 cts vs loss 120 dlrs net profit 960008 vs loss 2338286 sales 232 mln vs 199 mln note 1986 data restated to reflect operations discontinued in 1986 1986 earnings exclude loss from discontinued operations of 319055 dlrs or 16 cts a share in the quarter and 906962 dlrs or 46 cts a share for the nine months
rothmans close to joint venture in china
the bank has 592 mln dlrs in assets
the march delivery ceases trading march 17 making may and july the two nearby unlimited positions
he also praised the spirit of give and take that prevailed throughout this session ahmed farouk of malaysia speaking on behalf of producers said the conclusion of the new pact showed that the mutuality of interests between producers and consumers is now as valid as it was when negotiations of the first agreement began in the 1970s
ecolab said chemlawn has granted it a conditional option to buy all authorized but unissued and unreseved chemlawn shares at 3650 dlrs each
opec will renew its production pricing agreement in june because the value of the oil exports of the opec producers has declined along with the us dollar randol said
the protracted negotiations have damaged the confidence of investors in argentina forcing up interest rates and spurring capital flight he said
boliden already owns 50 pct of a gold ore deposit in saudi arabia but the new venture will be the first saudi mine to open in modern times
the consortium partners will supply the plant supervise its construction and advise on product processing with krupp providing a 100 tonne capacity arc furnace and a converter for steel refining
but nick toufexis of prudential bache securities inc says newmont mining is a more attractive investment
drawdown seen in us distillate stocks
water sports network buys debt from ntn
such a price would no longer encourage protectionist measures he added
wang laboratories inc wanb 1st qtr sept 30
avery avy sets two for one stock split
it has rattled its sword and shown that it can and will do business said analyst nick edwards at jardine fleming securities ltd in tokyo
the long term appreciation of the swiss franc and the accelerating deregulation of foreign banking markets could lead to a loss of international market share for both it said
west german finance minister gerhard stoltenberg said he was not surprised by the overnight decline of the dollar in foreign exchange markets
s k i skiio to buy califora ski area
washington mutual savings bank wamuo 3rd qtr net
mobil data in the annual report shows capital expenditures have been cut every year since 1984s 36 billion dlrs to 35 billion dlrs in 1985
the company said it is redeeming the debentures to meet mandatory sinking fund requirements
trade surplus will pose added pressures for japan
kuwait had earlier declined an offer of us naval escorts as too public an admission of its need for protection they said
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
cash in circulation is one of two components of the west german money supply which the german central bank is targeting to grow between three and six pct this year
technically most currency futures are poised for another rise said smith barney harris upham analyst craig sloane
oper shr profit 18 cts vs loss four cts oper net profit 1847000 vs loss 282000 revs 259 mln dlrs vs 8626000 drs 12 mths oper shr profit 39 cts vs loss 24 cts oper net profit 3262000 vs loss 1555000 revs 675 mln vs 279 mln dlrs
plenum publishing plen registers debentures
hecla hl to buy mine stake from bp bp unit
annual div four cts vs 176 cts pay march 20 record march 15
the bank of england said it provided the market with further assistance during the afternoon buying bills worth 166 mln stg at the lower rates introduced this morning
net 7237000 vs 5938000 sales 6308 mln vs 6018 mln year net 341 mln vs 205 mln sales 275 billion vs 261 billion note twelve and 52 week periods
the preferred class a stock closed at 500 dlrs
the decrease brings the prices for one pct sulphur to 2075 dlrs down 45 cts two pct sulphur 2010 dlrs down 75 cts 22 pct sulphur 1975 dlrs down 75 cts and 25 pct sulphur 1950 dlrs down 75 cts
s and p pointed out that debt leverage would rise to about 90 pct assuming total debt financing
texas eastern corp tet 3rd qtr net
ashton tate tate 4th qtr net
market share in france was little changed at 25 pct against 253 pct
us real gross national product which grew at a two pct annual rate in the 1986 second half should expand at respective rates of about 23 pct and 25 pct in the 1987 first and second halves
we did not ask any country to do anything
this will help prevent lower quality cocoa from malaysia the worlds fourth largest producer undermining the market
taunton savings bank said its board declared an initial cash dividend of six cts per share
philippine debt talks to continue on saturday
iniziativa meta inzimi the financial services unit of montedison spa monimi controls the largest single stake in florence based fondiaria with 499 pct
us agriculture secretary richard lyng declined to confirm statements made today by a farm state congressman that the united states will offer subsidized wheat to the soviet union within the next 10 days to two weeks
no reason was given for the recent purchases
cumulative costs for the six year period 1984 to 1989 could approach 23 billion dlrs he said
refinery crude runs in the four weeks were 1190 mln bpd up 14 pct from 1174 mln a year earlier it said
the loan will be 100 pct guaranteed by sace the official italian export credit agency
but how rates move in the long end will depend strongly on foreigners one portfolio manager for a large securities investment house in frankfurt said
terms of the acquisition were not disclosed
the main thing the british would threaten the japan with is denial of access to londons booming financial markets government officials said
the debt was surrendered for conversion into comon stock resulting in 2685142 shares being issued
neda said exports totalled 12 billion dlrs in the first quarter while imports were 14 billion dlrs
macdonald a director of tmoc resources ltd the principal holder of avalon stock and hardwick simmons a vice chairman of shearson lehman bros inc were then named to the board
coopervision today reported first quarter net income of 646 mln dlrs after a 1752 mln dlr pretax gain from the sale of its ophthalmic business to johnson and johnson jnj for 260 mln dlrs in cash and a 179 mln dlr posttax charge from a debt repurchase
the company said the transaction is still subject to regulatory approvals
fed expected to arrange system repurchases
the price decrease follows sharp declines in heating oil prices on spot and futures markets traders said
pickens has a plateful already with his holdings in burlington northern and amerada hess he said
it estimated 1985 86 output at 1613 mln tonnes vs 1613 mln last month
in addition to these firm agreements mannesmann is also talking with the state owned steel group salzgitter ag salgh on buying its 2498 pct stake in fichtel und sachs
a huge five billion dlr credit facility being syndicated for two subsidiaries of british petroleum co plc bpl should be well received in the market given the relatively generous terms it carries banking sources said
year on year private sector credit psc grew 3107 pct in january against 3064 pct revised from 3068 in december and 2140 pct in january 1986
but it is also likely that such assistance would be provided to nigeria which is under pressure to extend discounts
bundesbank adds money market liquidity at 370 380 pct dealers
a finance ministry statement said the increase should boost the price of petrol by 013 crowns to an average of 421 crowns per litre while light grade heating oil would go up by 30 crowns per cubic metre to an average of 1665 crowns
in testimony before the senate committee on governmental affairs baker said throwing money at the debtor nations wont solve their problems baker told the committee such an approach could worsen their difficulties unless the new financing can be productively absorbed and is consistent with their ability to grow and service debt he said the debt initiative associated with his name is a long term approach and further progress will be gradual and will vary among nations depending upon their own determination to implement growth oriented reforms and on the continued active support of the international community
under the canadian proposal all countries would have to ensure that domestic policies and programs to address the specific needs of their farm sectors do not distort trade a government background paper said
a surge of acitivity is expected during this final week of signup the official said
the newspaper did not speculate on whether recent dry conditions seriously threatened the main 1987 88 cocoa crop
it said in a statement the exchange will review the previously announced proposals of bonus issues of b shares by jardine matheson holdings ltd jardhk cheung kong holdings ltd ckghhk and hutchison whampoa ltd hwhhhk it added the exchanges listing committee will meet later today to consider these proposals
indonesia urged to deregulate its economy
baker stoltenberg meeting soothes markets
analysts noted that a general collapse in exploration and production volumes was partially offset by earnings from chemicals rising to 462 mln stg from 205 mln in 1985
usair group in definitive agreement for two billion dlrs in credit
backlog 10 billion dlrs vs 942 mln dlrs
general nutrition inc gnc 4th qtr net
it said it plans to reply in detail to issues raised by evans but its immediate concern was the decision to proceed with the current resource rental tax rrt legislation
the company said a final agreement has not yet been reached on the first transaction but negotiations are expected to be concluded in early june
there may be mild relief in some quarters that the us purchasing managers composite index a closely watched economic indicator rose only to 539 pct in march from 519 pct
this extension of the expiration date is conditioned on no person acquiring beneficial ownership of 20 pct or more of gencorps common stock prior to april 3 it said
the payment date is march 25 while the issue will be listed in luxembourg
manufacturing industry registered a 3 1 2 pct rise in production in february compared with january
scan graphics makes systems that allow users to convert graphic documents such as charts maps and engineering drawings into computer data that can be displayed edited and stored by computer
but bankers who attended the meeting with gros said it was inconclusive
the copper mine and smelter produced 72000 tons of copper anodes in 1986 and employs 680 people
the loan may be drawn to fund high priority investment projects if mexican economic growth fails to reach certain growth targets for the first quarter of 1987
us conservation figures seen neutral bearish
a private us rice trader visited tokyo last week requesting japan buy 200000 tonnes of rice for industrial uses such as making sake
total m2 rose 33 pct to 53526 billion dlrs in january from december when it rose 35 pct on the previous month
qtly distribution 7 1 2 cts vs 7 1 2 cts prior excluding 2 1 2 cts special pay april 30 record april 22 note full name is universal medical buildings lp
gatt to debate us charges of airbus subsidies
transit financial sees 1987 share profit rise
a num spokesman said 6000 workers began an underground sit in at the grootvlei gold mine owned by general union mining corp to protest the transfer of colleagues to different jobs
the qtr and year 1986 includes deferred income taxes of 244000 and 785000 respectively
we have reached what i judge to be the medium term financial strategys appropriate destination a psbr of 10 pct of gdp
south koreas gaining market share said one analyst
the measure was the latest hard line debt stance adopted by the government of president alan garcia one of latin americas most delinquent debtors
we carried out the operation that was decided upon and we carried it out with enthusiasm and i think it was professionally and well done crowe said
skorea to buy more cotton especially us cotton
energen egn buys municipal gas system
the law requiring a 48 hour delay in publishing the monthly trade figure excluding freight and insurance was passed in 1979
the company said the move will reduce asian overhead and a substantial part of the proceeds will be used to reduce debt
they said they could not say how long the disruption will go on and what effect it will have on shipping movements
hutton efh still interested in purolator pcc 
manhattan natl mlc holders vote stock sale
shr 39 cts vs 28 cts net 491000 vs 356000 revs 890000 vs 720000 year shr 154 dlrs vs 249 dlrs net 195200 vs 3165000 rev 3463000 vs 3005000 note net includes state tax credit of 400000 for 1986 qtr and year
about 14 mln philippine people depend on upland areas that are now denuded and farmers cannot grow crops
booker says 1987 starts well
nothing fundamental has changed with the company
and economic fundamentals will always come to the fore said a dealer at one major us bank
computer associates international inc and uccel corp uce said they have signed a definitive merger agreement under which computer associates will pay about 800 mln dlrs in stock for all outstanding uccel shares
exports to non ec countries were 190000 tonnes against 140000 and to ec countries 392 mln tonnes against 284 mln
americus trust for american home products shares said it extended its deadline for accepting tendered shares until november 26 an extension of nine months
at a telephone conference on february 23 committee members discussed the possible implications of the decisions reached in paris for us intervention in foreign exchange markets
georgia pacific corp said its second quarter results will include a gain of 60 mln dlrs pre tax or 34 cts per share after tax from the sale of its interest in georgia gulf corp the company said it is selling warrants for about 18 mln shares of georgia gulf common stock to goldman sachs and co in connection with the 48 mln share offering of georgia gulf
the national average diesel fuel sulfur content in 1986 for the survey respondents was 027 weight pct while the average aromatics content was 32 pct
excess liquidity pushed wholesale and consumer retail prices higher in 1986 87 on previous year levels rbi governor r
pesch said he held discussions with wedge about joining his takeover effort in which he is offering 17 dlrs cash four dlrs in preferred stock and one dlr in common stock for each american medical share
campeau bought the rest at 69 dlrs a share
foreign oil firms pump an average of 225083 barrels per day in colombia
some of the crop is far enough along so that its probably vulnerable krenzler said
analysts said that if the field were declared commercial and developed there would be a ready local market for the heavy crude it produced
computer terminal also said it sold the technolgy rights to its dot matrix impact technology including any future improvements to woodco inc of houston tex
hokkaido takushoku bank issues 100 mln sfr notes
foreign interest in guilder cps and cds is almost non existent due to the strong position of the guilder but amros london based subsidiary ebc amro bank ltd joined the syndicate in case such interest emerges meys said
the propertys drill indicated reserves to a depth of 1200 feet are estimated at over one mln tons averaging 025 ounces of gold a ton canamax said
buyers and sellers can either agree on a price between them and register the deal with the industrial and commercial bank that will run the new market or entrust the bank to make the deal it said
the partnership which includes wagner and brown of midland texas and irvine calif based afg industries inc last week dropped its 100 dlr a share hostile tender offer
qintex america ltd said its offer for 33 mln princeville development corp shares has been extended to march 19 from march 18
the official soviet news agency tass denounced a us attack on an iranian oil drilling platform in the gulf on monday as military adventurism and said it would bring no dividends to the reagan administration
genova gnva to merge into genova products
shr 73 cts vs 55 cts net 260 mln vs 171 mln revs 6733 mln vs 3945 mln avg shrs 293 mln vs 224 mln
it did not identify the buyer nor give the selling price
they dont have the money
analysts said ballys decision to offer shares in the unit could be the first step to selling it
canadian bank rate rises in week
the federal home loan bank board said its insured savings and loan associations thrifts that made a profit in the fourth quarter of 1986 reported moderate increases in net earnings
telecom plus international inc said siemens ag s siemens information systems wants to amend its agreement to purchase telecoms 65 pct interest in tel plus communications to delay payment of 25 mln dlrs for 11 months
funaro was reactnng to a british statement following his talks with chancellor of the exchequer nigel lawson saying the uk government had no part to play in what it viewed as a problem between brazil and its commercial creditor banks
global raises heavy fuels prices
london and scottish marine oil plc lasmo lasll will have an advantage when oil prices rise again and it is confident this will happen early in the next decade the company said in a statement accompanying results
but in late 1986 control of the company changed and it expanded by acquisition into metal trading in australia and asia
employers in rotterdam ports strike hit general cargo sector have been served with an injunction until may 7 preventing them from continuing with plans for 350 redundancies this year an employers organisation spokesman said
above normal yields during recent years resulted in trees reacting to the stress by changing the sex ratio to more male inflorescences and or aborting more female oil world said
us corporate finance new zealand dlr frns
a net has been thrown over the gaping loading doors at the front of the ship to prevent any more drums floating out
talks on similar projects have been held with other japanese firms including mitsubishi heavy industries co ltd mitht and ishikawajima harima heavy industries co ltd jimat he said
shr 10 cts vs 11 cts net 547000 vs 579000 sales 110 mln vs 111 mln year shr 46 cts vs 52 cts net 2500000 vs 2841000 sales 407 mln vs 405 mln
oper shr loss 11 cts vs loss 36 cts oper net loss 2383000 vs loss 4285000 total income 2194000 vs nil note resultes restated for discontinued operations and exclude discontinued operations loss 5755000 dlrs vs gain 4933000 dlrs
datamag inc dmag 1st qtr dec 31 loss
the french corn growers could now charge that us farm programs create an unfair subsidy for corn gluten feed hall said
allwaste inc said it agreed in principle to acquire all outstanding stock of a company in the industrial service business for 198 mln dlrs in common stock
swiss cantonal bank group sets 150 mln sfr bond
the judge told attorneys he needed time to hear other cases
charan industries inc a distributor of toys and other consumer products expects 1987 net profit to rise at least 50 pct over last years 61 mln dlrs president earl takefman told reporters before the annual meeting
rubio said he was aiming for the lower end of the range
in weight terms the 719 mln grams of british gold assayed was a 153 pct increase while the 295 mln grams of foreign gold represented a rise of 31 pct
an american farm bureau federation afbf official said that far from hurting canadian corn producers us farm programs benefit all foreign producers
a new international natural rubber agreement inra was adopted earlier this month in geneva
us housing data fail to clarify economic path
the gas restrictions were enacted in 1978 in response to a shortage of natural gas and predictions of higher prices
economists said this reflected the huge investments poured into the oil sector in recent months in an effort to reverse the stagnation in production which began in november 1983
italian balance of payments in deficit in may
delegates from 23 countries are attending the gatt talks in the new zealand resort of taupo
the company said on completion of the acquisition the sealy stock owned by michigan sealy will be redeemed raising ohio mattress interest in sealy to 93 pct
comissaria smith said there is still some doubt as to how much old crop cocoa is still available as harvesting has practically come to an end
the company which owns 58 pct of daily telegraph plc said it named former carling okeefe ltd chief executive pierre des marais as chief executive of la societe media quebec the unit acquiring unimedia
usda estimated that an additional one mln acres of wheat would be ildled under 0 92 15 mln acres of corn 500000 acres of sorghum and barley and 500000 acres of cotton
cheap oil feedstocks the weakened us dollar and a plant utilization rate approaching 90 pct will propel the streamlined us petrochemical industry to record profits this year with growth expected through at least 1990 major company executives predicted
eastman kodak co is issuing a 200 mln australian dlr zero coupon bond due may 12 1992 and priced at 54 3 8 for an effecitve yield of 1352 pct said merrill lynch capital markets as lead manager
the federal home loan mortgage corp adjusted the rates on its short term discount notes as follows maturity rate old rate maturity 33 days 600 pct 600 pct 33 days
united jersey banks ujb to merge two banks
the issue made at par has an initial three year life and the borrower has the right to make extensions up to 1997
it would only take five minutes to list their accomplishments a senior us official replied
the trust said it also reaffirmed a limited share repurchase program subject to available cash flow in light of the defaulted mortgage
philippines clinches debt deal source says
as to the traditionally more active currencies stability was the catchword and reluctance the watchword among analysts
may ma to sell sycamore division
co managers are banque bruxelles lambert ka wah bank kyowa bank saitama bank sanwa bank and yasuda trust and banking co ltd
gordon presided over six hours of argument today by lawyers for burlington and samjens a partnership formed by dominion textile inc and new york investor asher edelman
the company said about 28 members of clarendon will join transamerica as part of the acquisition which is expected to close in november and is subject to various regulatory approvals
terms of domes proposed debt restructuring plan preclude the company from making an accurate estimate of future financing costs which are used in the new accounting calculations it said
amoskeag bank amkg to acquire entrepo
membership in the company which mulligan termed a cooperative of cooperatives has declined from 99 in 1982
its export capability will rise to 25 mln bpd when a new pipeline through turkey comes onstream in or around september
a typical 20 year mortgage bond had risen to 81 by noon from 79 1 4 at the close last night
ico council ends in failure to agree quotas
att t phone proposal to help profits
eliminations of business conducted between the companys industry segments contributed two mln dlrs to fourth quarter 1985 profits but did not affect the 1986 quarter
completion of a transaction it one is made is expected by the end of the year the company said
today wendys hit a high of 13 3 8 before dropping back to 12 3 8 up 5 8 in heavy trading
in 1986 exports totalled 224 billion dlrs and imports 129 billion
procter and gamble co said it appointed the new york ad agency of wells rich greene inc to handle its duncan hines ready to serve cookies effective immediately
we are no longer concerned so much with the world market he said adding producers in the negros region had learned from their mistakes and diversified into corn and prawn farming and cloth production
exchange rate trends therefore hit us much more severely than most other airlines
1 1988 bayou stockholders may receive up to an additional two mln dlrs in stock and cash which has not been included in the 88 mln dlrs
shr loss 132 dlrs vs profit two cts net loss 5666000 vs profit 84000 revs 120 mln vs 217 mln nine mths shr loss 187 dlrs vs loss 71 cts net loss 8030000 vs loss 3062000 revs 409 mln vs 530 mln note includes losses from discontinued operations of 190000 dlrs vs loss 185000 dlrs in 3rd qtr and 731000 dlrs loss vs 815000 dlrs loss in nine mths
toronto dominion bank is issuing a 20 billion yen eurobond due april 6 1992 with a 4 5 8 pct coupon and priced at 101 5 8 lead manager nomura international ltd said
the cable program said a buyout of outboard would be for up to 40 dlrs a share or for a total of 680 mln dlrs
economists estimate the drop in purchasing power at between 20 and 35 pct for an average household over the last 12 months despite a pay rise of up to 67 pct for civil servants announced last may
texaco said the largest drop in reserves came in the united states where the total dropped to 146 billion barrels from 155 billion
strata corp stata year dec 31 loss
in a warehousing scheme a group of investors acting in concert would each amass stock in the company without disclosing that they have an agreement among them
pesch unit seeks balance of republic health
even if 10 banks were buying five to 15 mln dlrs you would still be talking of a small overall amount said one dealer
hutton sources have said the firm was in fact facing risk n its investment since it did not know when it could reclaim its 279 mln dlr loan
diamond crystal salt co said it might sell its salt division
the investment gains were up 39 pct from 1985s gains of 559 mln dlrs
discussing the ongoing negotiation baker said the us position is that the countries that pay in the most should have the greatest say over the loan decisions
co lead managers are new japan securities wako securities and yasuda trust
guatemala has already proposed the other oilds producer group should meet in the next two months to begin talks on how to allocate quota shares
bargaining in agricultural goods and services banking tourism insurance is included for the first time as well as manufactured goods
swiss 1988 inflation seen at two pct institute
bank of america nt and sas bacn west german branch said it is negotiating the sale of bankhaus centrale credit ag a small local west german bank it acquired in 1965 and of its west german visa credit card operation
fresh heavy rains caused further damage to the argentine 1986 87 coarse grains crop in the week to yesterday particularly in buenos aires province trade sources said
sarneys decision means brazilian importers of machinery and industrial equipment can buy dollar currency in the parallel market without having to wait for an official order from the banco do brasils foreign trade department cacex sarney also announced measures to boost exports in an effort to strengthen the countrys trade balance and alleviate the risk of a reduction of foreign loans for this sector of the economy
dixons is tendering for cyclops shares at 9025 dlrs a share
the 12 year bonds will carry a coupon of 4 3 4 pct and will be sold primarily to european investors for 10025 pct of face value dow said
we believe the action being proposed will begin to contribute to improved earnings in the fourth quarter of our fiscal 1987 and throughout fiscal 1988 the company which is one of the nations largest construction firms also said termination of its defined benefit retirement plan would produce a pre tax benefit of about 10 mln dlrs due to overfunding of the plan
general motors corp staged an explosive rally on wall street after a share buyback program announced yesterday but analysts said gms future remains clouded by stiff competition and erosion of market share
the cut takes the anzs prime to the lower end of the range of prime rates being offered by australian trading banks
it said that indonesias move into sugar self sufficiency in 1984 may have been short lived
malaysian primary industries minister lim keng yaik welcomed the basic accord reached over the weekend in geneva between producers and consumers on a new international natural rubber agreement inra this is a good development and if a new pact is adopted this week it will augur well for the rubber industry and prices in the long term he told here
taiwans industrial production index fell largely as the result of the rising taiwan dollar by 818 pct to 14006 base 1981 in february from a revised 15253 in january the economy ministry said
according to the letter of intent signed by the companies conagra will acquire all of monforts 43 mln outstanding shares for 1075 mln of its own shares
shr loss 77 cts vs loss 149 dlrs qtly div two cts vs two cts prior net loss 3860000 vs loss 7541000 sales 2538000 vs 3648000 year shr loss 78 cts vs loss 158 dlrs net loss 3935000 vs loss 7999000 sales 105 mln vs 163 mln note dividend pay april 24 record april 10
the house budget committee also plans to start drafting a separate budget plan later this week which would have to be reconciled with the senate version
the fourth quarter decline followed a 11 pct fall in export prices and a 24 pct rise in import prices it said
the statement said the offer was due to a decision by wickes international corp a member of the us wickes companies wixa inc group which holds an 805 pct stake to realise much of its investment
since the accord by the united states britain west germany japan france and canada foreign exchange markets have been closely watching for indications of intervention by central banks to determine the committment by those nations to their agreement
none of us really wants to injure negotiations that might be going on he said
oil prices rallied immediately after the geneva accord but fell again last month on reports that opec was producing more than the agreed level
empire empato to buy sobeys sysato stock
through friday stock prices as measured by the dow jones industrial average surged 1913 pct in 1987
huckaby a louisiana democrat and chairman of the house subcommittee which deals with the sugar program indicated the easing of the quota might be a way to calm the concern about the impact of the severe cut in us sugar imports this year
we are looking at financial services and other manfacturing companies however she said the company was not targeting the us for its planned expansion but was looking at a number of different countries
west german exports to us drop sharply
manufacturers hanover mhc files for debt offer
treasury secretary james baker and one of his top aides assistant secretary david mulford said last week there was no target for the dollar a statement that sent the yen soaring against the dollar despite massive central bank intervention
yesterday federal reserve chairman paul volcker said that a possibility of renewed inflation remains a concern in both the financial markets and the federal reserve
transcapital financial corps transohio savings bank subsidiary said it plans to close 11 offices in the cleveland area and one in columbus ohio reducing its total number of offices to 81 statewide
it expects share earnings to rise to 469p from 387p and to 512p in 1987 88 and the 1986 87 dividend to be 170p net a 416 pct increase
delegates from 22 countries are meeting informally to discuss progress made since the latest gatt round was launched in punta del este uruguay last september
the bond will be available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg and frankfurt
argentina corn exports were also cut by 500000 tonnes to 68 mln tonnes
marx said the talks should not drag on
the bond which is a private placement matures on march 17 1992
bank of france said it cut money market intervention rate to 7 3 4 pct from eight pct
taiwans balance of payments surplus widened to a record 1662 billion us dlrs in calendar 1986 from 935 billion in 1985 the central bank said
usda estimates china wheat
the increases will affect certain non contract or spot transactions and will be achieved through reductions in competitive discounts
merrill lynch capital partners a unit of merrill lynch and co is tendering for 89 pct of borg warner and offering a package of cash and securities for the balance of the shares
schering plough sgp mulls dr
the new advances covering the period april 3 to 15 replace the current 42 billion guilder nine day facility at 53 pct which expires today
oper shr 45 cts vs 42 cts oper net 330 mln vs 311 mln revs 7498 mln vs 7165 mln nine mths oper shr 123 dlrs vs 111 dlrs oper net 911 mln vs 813 mln revs 22 billion vs 21 billion note prior nine mths and qtr excludes loss of 23 mln dlrs due to discontinued operations
they said they expect gasoline inventories to be depleted by about one to four mln barrels
he noted canada is seeking foreign investment in its auto industry which could put strains on the considerable bilateral free trade in us and canadian autos and parts
uk money market given further 30 mln stg help
petroleos de venezuela sa will announce within two weeks the name of a foreign consortium it has chosen to help exploit the coal deposits at guasare in western zulia state pdvsa president juan chacin guzman said
bnl officials said the issue is scheduled for mid march and additional financial details were not immediately available
kellog said the project will enable the refinery to produce btx products benzene toluene and orthoxylene by processing naphtha feed from an expanded reformer hydrotreater
malaysia sets 100 mln swiss franc notes issue
however the industry did not proceed with this plan as zinc market conditions improved in 1984 the sources noted
canada metal production figures were not immediately available
bank of new york said it raised its prime lending rate a quarter point to 7 3 4 pct
it noted that domestic demand for capital goods had been hit in recent months by the weakness of exports which had caused west german firms to scale back investment plans
coffee accounts for about 95 pct of ugandas export earnings and last november president yoweri museveni ordered all coffee shipments to be carried by rail in order to avoid the higher costs of road haulage
container port operator hong kong international terminals ltd a 89 pct held unit of hutchison whampoa ltd hwhhhk said it has placed a 164 mln hk dlr order for seven quayside container cranes of 800 tons each with japans mitsui engineering and shipbuilding co ltd msett for may 1988 to august 1989 delivery
illinois power co ipc two months february net
hair said interiors report failed to stress the probability that finding recoverable oil is only 19 pct
unilever has improved margins volumes in 1986
exxon currently has two refineries in france fos in the mediterranean with a capcity of 175000 barrels per day and port jerome west of paris with a similar capacity
they have an over allotment option to purchase an additional 1125 mln dlrs of the debt
sahlen and associates salnu completes purchase
no specific figure has been put for soviet bookings but they have been sufficient to drain panamax tonnage about 50000 to 65000 tonnes dw from the us gulf which would normally operate on the trip to japan dealers said
i am afraid this time we have to give more than take from our talks with the us he said without elaborating
bankers said commercial lending rates were set to rise in any case with the end of the six pct maximium interest rate banks can offer for time deposits of up to six months
although in the short run it is difficult to see a direct link between arab anger and threats to oil supplies in the current environment it will be increasingly difficult for moderate arab leaders to be seen as friendly to us interests ebinger said
the commodity credit corporation ccc has accepted bids for export bonuses on 36000 tonnes of durum wheat to algeria the us agriculture department said
oper shr 32 cts vs seven cts oper net 2599000 vs 550000 revs 944 mln vs 694 mln note net excludes tax credits of 1405000 dlrs vs 3538000 dlrs
under the agreement pizza inn said it will still be permitted to complete a leveraged buyout agreement with pizza inn acquiring corp which has been approved by its shareholders but is subject to otaining financing
western carolina savings and loan association said the federal home loan bank board approved the completion of its conversion to a state chartered stock savings and loan from a state chartered mutual bank
investor david f
but the walls between the two are crumbling and komatsu said he hopes further deregulation will create new opportunities
it has an average life of 1349 years and matures 2018
but tokyo based orders are necessary for a primary stimulus for the liffe yen bond futures market said tetsuya dezuka deputy general manager of the money market section of new japan securities co ltd one of the most active yen bond brokers in london
but he declined to specify what share the firms would take and told they would not participate in its management
ec sugar tender seen as further concession
months traded would correspond with the chicago corn futures months of march may july september and december
it added that its semi annual four pct stock dividend will not change
as a result it said it has eliminated the scheduled may 1987 conversions of 1300000 dlrs of series a notes and 1400000 dlrs of series b notes
the ministry said trade measured on balance of payments criteria showed an unadjusted 71 billion franc january deficit while services showed a 37 billion surplus
that delays a lower risk profile for many of them standard and poors said
all sales under the credit guarantee line must be registered and shipped by september 30 1987 it said
natl computer nlcso to buy data card stake
the ec commission will decide shortly precisely how to arrange the import of third country maize and sorghum into the ec in fulfilment of its agreement with the united states commission sources said
knutson earlier declared a quarterly dividend of 10 cts a share versus 10 cts a share prior payable april 13 to shareholders of record march 13
but we must be very careful he said
lex service plc lexll said it had acquired sears motor group ltd the retail motor distribution arm of sears plc sehll and an 119 mln stg loan note payable by sears motor for 334 mln stg
it also said it would propose to acquire all of its 20 mln dlrs worth of outstanding 10 pct convertible subordinated debentures for an aggregate of approximately 154 mln dlrs and propose liquidation of the company with shareholders receiving an estimated 54 cts a share
chrysler further said it is offering special 500 dlr checks only to patrons of the 1987 new york auto show good toward the purchase of chrysler lebaron coupes plymouth sundances dodge shadows and dodge daytonas
caesars world caw says it mulls restructuring
boone pickens who has acquired huge texas and kansas gas reserves for his mesa limited partnership mlp in recent months is not convinced that the drilling industry is on the verge of a recovery
ohio mattress co said its first quarter ending february 28 profits may be below the 24 mln dlrs or 15 cts a share earned in the first quarter of fiscal 1986
the sources said they believe the committed four year revolving credit the largest of its kind in the euromarkets carries a facility fee of 1 8 pct and that drawings will be at 1 8 pct over the london interbank offered rate libor morgan guaranty trust co of new york which is arranging the financing in conjunction with its london operation was not available to commment on the terms
the tax to be imposed from july would add about 375 dlrs a tonne to vegetable oils entering the ec
a swiss monetary source who asked not to be named said the communique had been in line with realistic expectations and should not have produced disappointment
the bearers held mainly by foreign investors dropped 30 swiss francs to 460
following the refiners request representatives of the florida sugarcane producers met with usda to express opposition to any quota expansion industry sources said
solters said to be travelling was not immediately available for comment
concepcion said at the start of the taupo meeting that the uruguay round was meant to be a shining act of faith in the world trade system
windy weather followed to dry fields and limit planting delays
but it said selling general and administrative expense eased to 232 pct of sales from 237 pct in 1985
boliden says results burdened by loss writeoff
a shareholder group led by barris industries inc brsso said it acquired a 98 pct stake in media general inc class a common stock and may seek seek contorl of the company
british gas plc brgsl said it repaid 750 mln stg debt to the government the first tranche of 25 billion stg unsecured debentures issued as part of the process of privatisation last year
qtly div 10 cts vs nine cts payable june one record may 15
agreement reached in greek alumina deal with moscow
analysts said transcanadas bid signals domes debtholders that an alternative exists to domes debt plan
for the two month period ended february 28 1987 it said the amount of the reduction would amount to 19 cts per share
lig said the disposal was part of its strategy of concentrating on its core activities
the new cds with maturities of six months one year and two years carry interest rates ranging from 39 to 515 pct
donegal group inc dgic year net
bp bp unit sees mine proceeding
bankers leaving the meeting with gros declined to discuss details of the talks though some expressed satisfaction that brazil had agreed to continue working with the committee
some water is also in the no5 hold
it makes grinding machines
improved corporate earnings and better prospects for the stability of the yen had made companies more optimistic it said after carrying out a quarterly survey
china has signed 36 oil contracts and agreements with 37 companies from 10 countries since 1979 when offshore exploration was open to foreigners
light louisiana sweet was raised to 1935 dlrs
us roastings of green coffee in the week ended march 21 were about 250000 60 kilo bags including that used for soluble production compared with 195000 bags in the corresponding week of last year and about 300000 bags in the week ended march 14 george gordon paton and co inc reported
in particular he was roundly criticized by some for more or less forcing them last september to grant mexico generous terms on its 77 billion dlr new loan and debt rescheduling agreement
japan has come to symbolize what we fear most in trade the challenge to our high technology industries the threat of government nutured competition and the multitude of barriers to our exports senate democratic leader robert byrd said
shr 38 cts vs 25 cts net 708197 vs 404471 sales 6592736 vs 6122133 avg shrs 1886400 vs 1648477
proceeds will be used to reduce debt
it said a hearing to determine the amount of damages owed to the bank was set for april 21
year on year inflation was six pct compared with the government five pct target for 1987
the jordan branch of iraqs rafidain bank said it will raise paid up capital to comply with the countrys minimum requirement of five mln dinars by drawing on profits from its operations in the country
oecd sees major adjustment for australia
rockefeller center properties rcp ups payout
us bank discount borrowings average 233 mln dlrs a day in march 4 week fed says
we are convinced that by the end of the 1988 financial year copper production could well be over 500000 tonnes due to greater availability of spares and equipment a zccm official said
at stake is c and ws 400 mln dlr project to lay fibre optic cables between japan and alaska to form part of its global network
shr 100 dlr vs 34 cts net 169 mln vs 5696000 revs 3713 mln vs 3032 mln avg shrs 169 mln vs 163 mln nine mths shr 355 dlrs vs 166 dlrs net 593 mln vs 271 mln revs 102 billion vs 9128 mln avg shrs 167 mln vs 163 mln
the spokesman said the fed intends to purchase bills maturing in up to six months
much of that will be attributed to businesses rebuilding their inventories and is not likely to be sustained in the second quarter gramley said
both properties located in southern utah consist of approximately 1430 acres of unpatented mining claims and one state lease it said
during february factories used 653 mln lbs of edible tallow vs a revised 718 mln and 846 mln respectively
the utility holding company said the offering should be completed in late march or early april
shr 52 cts vs 45 cts net 2623000 vs 2256000 nine mths shr 155 dlrs vs 145 dlrs net 7744000 vs 6542000
creditanstalt bankverein cabvvi is likely to raise its 1987 dividend from the 1986 payment of 12 pct of share capital deputy general director guido schmidt chiari said
czechoslovakia joined as an importer
asked if a return to an inflationary environment in brazil would make farmers inclined to hold onto crops melicias said it would not make a big difference
the federal reserve may intervene in the government securities market to add reserves today some economists said although others felt that the fed was likely to refrain from any action
shr 79 cts vs 72 cts net 581915 vs 536040 revs 139 mln vs 133 mln year shr 328 dlrs vs 321 dlrs net 2413407 vs 2360048 revs 549 mln vs 542 mln
the minimum denomination of mmcs will be lowered to 10 mln yen from 30 mln
in such a fundamental reform the test of the willingness of the government is how it confronts the domestic resource requirement arrivillaga said
sen
the company said the shareholders had previously expressed dissatisfaction with computer identics management and had informed computer identics that the present board no longer had the support of a majority of shares held
he said domestic demand has fallen reducing the need for imports while greek exports are becoming more competitive
firm has 148 pct of decision capital fund dcf 
oper shr loss six cts vs profit four cts oper net loss 165000 vs profit 83000 sales 2413000 vs 921000 avg shrs 2908770 vs 2203462 year ope shr profit five cts vs profit five cts oper net profit 124000 vs profit 106000 sales 5652000 vs 1623000 avg shrs 2369949 vs 2061102 note net excludes losses from discontinued operations of 548000 dlrs vs 14000 dlrs in quarter and 696000 dlrs vs 21000 dlrs in year
opec remains within its agreed output ceiling of 158 mln barrels a day and had expected current fluctuations in the spot market of one or two dlrs indonesian energy minister subroto said
banks are required to submit proof that their bids are based on valid commercial transactions and the central bank has complained in the past that many are failing to produce the right paperwork within the specified time
market sources said the cut reflected the recent easing in market interest rates
us officials say brazil should deal with banks
another 409 mln is available immediately following an export shortfall for jamaica in the year ended september 1986 due to reduced income from bauxite alumina and tourism the imf said
fed funds opened at 6 3 16 pct and remained there in early trading
on the other hand he also has made it clear he is not attached to the gradually declining deficit ceilings set for the 1986 1991 period by last years gramm rudman balanced budget law
in the 12 months to end january industrial production was 1048 pct above the 12 months to end january last year while in calendar 1986 output was 1089 pct above 1985
the 9 day bills will be issued april 7 and mature april 16 while the 20 day bills will be issued april 3 and mature april 23
he also said the first quarter estimates were 70 pct higher than 1986s first quarter net of 29 cts per share
the conversion period is from may 20 1987 until september 18 1992
the five institutes issued a joint spring report in which three kiel hamburg and essen forecast a two pct rise in gnp in 1987 while west berlin and munich predicted one pct
six month deposits also firmed to 7 1 8 seven pct from 7 1 16 6 7 8 on sunday
it said its overall financial position showed further improvement in 1986 and the reshaping of its uk business into clearly defined and activity related divisions had been successfully achieved
last weeks yield was six pct although the programme had started at the end of last year with rates as low as 560 pct
southmark also said it has become the managing partner of berg harmon associates
but feinberg said there is a better chance a transaction could be completed because of the revised structure of the offer
in a speech prepared for delivery in new york to the bank and financial analysts association heller said i believe that increased diversification along geographic and product lines is the key to strengthening the american banking system he said he supported the idea of financial services holding companies advocated by the association of bank holding companies in which regulation of various bank thrift insurance investment securities and real estate subsidiaries would be handled on functional lines
convest energy partners ltd cep 4th qtr loss
the proposal initiated by the us was withdrawn last friday setting the stage for compromise at the weekend
national westminster bank cuts base rate
as a result of the split the number of outstanding shares will increase to 28 mln from 14 mln the company said
franco nevada stock is up two at seven dlrs per share on the toronto stock exchange
alpine a limited partnership said it bought the stock for 281 mln dlrs as an investment in the ordinary course of its business as a securities dealer
the companys 1986 us turnover of about 750 mln dlrs made a listing on one of the new york exchanges a logical next step van driel said without elaborating
berkshire gas co bgaso raises payout
bigelow said that times home box office added subscribers last year and the trend is continuing in the first quarter of 1987
we do plan to cover the costs by selling philippine investment notes pins worth about 150 mln dlrs a year pins are negotiable foreign currency denominated instruments that will be offered to creditor banks and are designed for conversion into pesos to fund government approved equity investments within the philippines
attempts to refloat the vessel with the help of six tugs have been unsuccessful
the firms co managers of the underwriting group said paine webber originally planned to offer 36 mln shares
asked if south korea would drop its trade barriers once its foreign debt was substantially reduced he said yes i think so rha made his remarks at the end of a two week trade mission here during which a team he led agreed to buy us products valued at 18 billion dlrs
bourse dealers say the fall in value of fiat stock over the last six months partly reflects selling by foreign operators of shares acquired as a result of the 21 billion dlr equity offer after libya sold its minority stake last september
shr loss 57 cts vs profit 302 dlrs net loss 3606000 vs profit 8294000 revs 153 mln vs 239 mln note net includes gains from sale of uspci inc upc stock of 15 mln vs 205 mln year ago net includes loss from discontinued operations of 103 mln
in addition the banking committee bill would authorize us banks to use a variety of means to deal with the debt problems of developing countries such as lowering interest rates on existing debt renegotiating loans or debt forgiveness
shr 57 cts vs 72 cts net 27 mln vs 33 mln six months shr 45 cts vs 84 cts net 21 mln vs 38 mln note1987 six months includes 790000 dlr charge
bonn and other european nations worry that once the weak dollar blunts tokyos export drive to the united states the japanese monolith will concentrate on european markets
us district court judge eugene a
the strength of sterling has also contributed to the recent slip in prices
shr 55 cts vs 80 cts net 2517443 vs 3633217 revs 791 mln vs 763 mln 12 mths shr 257 dlrs vs 341 dlrs net 117 mln vs 154 mln revs 3051 mln vs 3143 mln
the holdings of the two precious metals and the hard currencies were valued at 2172 billion dlrs on may 22 1987 he said
shr 56 cts vs 63 cts net 48500000 vs 55400000 sales 153 billion vs 146 billion avg shrs 866 mln vs 873 mln nine mths shr 173 dlrs vs 179 dlrs net 150300000 vs 156200000 sales 460 billion vs 430 billion avg shrs 867 mln vs 873 mln note 1987 results include gain of 97 mln dlrs or 11 cts a share from sale of assets 1986 results include gain of 161 mln dlrs or 18 cts a share from sale of assets offset partly by a restructuring provision fiscal 1987 results restated to give effect to adoption of financial accounting standards relating to pension costs
pakistan will retender for 6000 tonnes of refined bleached deodorised palm oil for second half march shipment tomorrow after failing to take up offers today palm oil traders said
societe marseillaise de credit is co lead
conflicting economic indicators from the us have also been dampening market activity he added
bankers noted citibank had held up an agreement with chile objecting to proposals for delayed interest payments
it said consumer prices for foodgrain can be adjusted only gradually as part of a reform of the entire pricing system
it earned 3848000 dlrs in last years first quarter
foreign exchange market rumours that the the bank of england has been selling sterling to halt its rise prompted a wary response from dealers who said they saw no obvious confirmation market sources said
there are light oversupplies now but opec has ensured there will be no oversupplies in the fourth quarter and is in effect putting pressure on end users a european crude oil trader said
in spain buoyant domestic demand led by fixed investment had been the driving force behind rapid growth in gross domestic product
planting intentions in the south east ranged between nine pct less and two pct more than last years 125000 ha
counsel corp sets three for two stock split
sorghum accounts for 40 pct of the raw materials needed by chinas breweries it added but gave no more details
usda said the bill would discourage farmers from buying crop insurance and fall short of the administrations proposed broad scale revision of farm programs
mellon bank expects to report a first quarter loss of 55 mln to 65 mln dlrs
but he said hong kongs large trade deficit with the us may result in protectionist measures that will adversely affect the british colony
pennzoil co pz offering of 100 mln dlrs of debentures due april 1 2017 through merrill lynch capital markets and lazard freres and co
foreman said usda should follow a national academy of sciences recommendation to label chicken packages to remind consumers of preparation procedures necessary to avoid illness
the company last paid 50 cts per share in january 1986 and before that paid 60 cts in january 1985
the two are due to visit japan later this month for farm talks
silicon valley bancshares said it declared a five pct stock dividend payable may 1 to shareholders of record april 1
it sold 36 billion francs worth of the treasurys 850 pct june 1997 tap at an average price of 9686 pct giving an average yield of 878 pct up from 872 pct at its last tender of the same tap a month ago
he told by telephone that importers liptons and brooke bond had been asked to supply data to the authority and a hearing would be held
in its semi annual report the oecd said portugals total domestic demand growth would decline from 76 pct last year to five pct in 1987 and 375 pct in 1988 as slower wage growth restrained private consumption
franklin minnesota sets monthly payout
rules can and will be ignored if the institution is weak or perceived as unable to adapt to the changing world economy he also also urged that member states be accountable to each other for their trade policies
government projections of output from as yet undiscovered fields range from 40000 to 130000 bpd he said
millipore mili acquires equity in protein
the issue was also designed to increase the international profile of the british high street retail conglomerate and was consequently aimed primarily at continental investors who have shown a high degree of interest in the issue he added
diplomatic sources said the talks had gone well and a zambian delegation would leave for washington in about three weeks to complete negotiations with the imf and world bank on a revised economic adjustment programme
technical factors making for a slight shortage of liquidity in the market included the settlement yesterday of the latest monthly treasury tap stock tender on march 5 market sources said
lennar len completes acquisition
sources within latin america and the caribbean hold little hope for the regions sugar industry to return to profitability unless the us and ec change their policies
the loan will also help pay for new trains
james olin d va the national research council recommended in 1985 that fsis intensify efforts to develop rapid diagnostic procedures for detecting microoganisms
dual agreements included in the fta allow israel to act as an economic bridge between the us and europe enabling us firms to export to europe at lower cost if a certain percentage of the exported is produced in israel and vice versa
treasurys baker says system needs stability
prices in the 12 nation bloc rose 02 pct in may after 06 pct in april
he did not indicate what exchange rate levels were broadly sought by the six nations and noted that we are more effective in our agreement if we can leave the markets guessing he did not indicate what exchange rate levels were broadly sought by the six nations and noted that we are more effective in our agreement if we can leave the markets guessing leigh pemberton said that in principle the bank of england favoured full ems membership for sterling provided such a move did not endanger uk anti inflation monetary policy
earlier the bank forecast the deficit at 105 billion stg and gave 90 mln stg assistance at an early round of bill offers
theyve been in again this morning selling piecemeal whenever they think necessary a senior dealer at an oslo bank who declined to be identified told 
ec sugar tender seen as concession to producers
trans world airlines inc said it owns more than four mln usair group shares or about 15 pct of the total outstanding
woolworths shares closed on australian stock exchanges today at 350 dlrs down five cents from friday
the company released its audited 1986 results
investors may pay for b participation certificates by redeeming the bond issued today
canada vows to fight us potash action
qtly div 10 cts vs 10 cts pay april 30 record april 10
bond traders noted that nabisco has called for redemption around 12 billion dlrs of its 1120 pct notes of 1997
some 900 mln dlrs of the package will be for programme aid or local cost financing indonesian central bank governor arifin siregar said
nspa said the figures include only nspa member firms
it said it bought the shares as part of an agreement to raise its minority stake in first boston to 40 pct the same stake level first boston holds in financiere credit suisse
also westpac has agreed to redeem to floating rate notes after 15 years
management bought the other 50 pct
the banks policy making board on saturday postponed a decision on the reforms until june in view of strong latin american opposition to us proposals to strengthen its control over lending to the region
venezuelan central bank president hernan anzola has submitted his resignation and asked president jaime lusinchi to transfer him to a post in the oil industry two leading venezuelan newspapers reported
dollar 90 88 sterling 143 138 swedish crown 204 206 norwegian crown 52 52 danish crown 52 53 german mark 193 196 m
comdata had previously entered into an agreement which collapsed for a repurchase of six mln shares at 1450 dlrs each and for the sale of one mln shares by a director to mason best co mason best already owns 1800000 comdata shares
puget sound power and light co said its board authorized the redemption on april 20 of the outstanding principal amount of 947 mln dlrs of first mortgage bonds
the march unemployment rate was the lowest since march 1980
some dealers said the usda may further adjust the posted county price at the gulf to take into account high barge freight rates as a way to keep corn sales flowing but added the current plan probably will be given a few weeks to see if it will work as hoped
year to march 31 1987 share 106 rupees vs 130 pre tax profit 9952 mln rupees vs 157 billion net profit 8752 mln vs 107 billion sales 1416 billion vs 1285 billion dividend 25 pct vs same tax 120 mln vs 500 mln note full company name is tata iron and steel co ltd tatabo dividend is payable to shareholders on aug 12
it is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
gander mountain inc said it acquired the privately held western ranchman outfitters a catalog and point of purchase retailer of western apparel based in cheyenne wyo
third quarter ended august 31 group shr 3492 yen vs 3474 group shr per ads 6984 vs 6948 net 420 billion vs 418 billion pretax 1030 billion vs 973 billion sales 9596 billion vs 9259 billion companys full name is tdk corp tdkt
saudi arabia has committed itself to japanese lpg buyers which has quelled fears that lpg supplies from the mideast gulf could easily be disrupted in the wake of heightened hostilities in that area said another trader
quite simply rainbow should now bid for the balance of progressive enterprises at 480 nz dlrs per share collins said
rolm will also continue to direct the sale of its products by rolm distributors in the united states and overseas
kidston said in a statement it will spend about 55 mln dlrs to upgrade its mill grinding circuit to a mill ball mill crushing circuit to boost output by 25 pct from end 1987
terms of the deal were not disclosed
boliden spokesman goran paulson told the swedish group would be responsible for the technical side of the operation and would have no control over the product itself
shr 70 cts vs 53 cts net 173 mln vs 129 mln revs 3369 mln vs 1575 mln six mths shr 134 dlrs vs 107 dlrs net 330 mln vs 263 mln revs 6547 mln vs 3101 mln backlog 19 billion vs 8518 mln note year ago qtr and six mths included after net charge of about four cts per shr representing the difference between a gain on the sale of securities and the write off of certain nonrecurring costs
the union said that it is firmly against the dart bid because workers have always ended up with a raw deal in the current takeover mania a union statement said we do not intend to allow our members to pick up the tab for supermarket generals executives and the bankers or the dart group who stand to make millions dart is controlled by the haft family of washington which last year made a bid for california based safeway stores inc
we cant afford to let them go up
und frankfurter bank bhf is raising 30 mln australian dollars through a five year bullet eurobond with a 14 1 4 pct coupon and priced at 101 1 4 sole manager bhf said
pakistan will tender tomorrow for 12000 tonnes of refined bleached deodorised palm olein tomorrow split in two equal cargo lots for first and second half april shipments traders said
baldrige sees us trade deficit starting to decline in feb or march data
ultramar plc umarl 1986 year
gc goh chief dealer of the standard chartered bank said prime rate increases by citibank and chase manhattan bank to 7 3 4 pct from 7 1 2 may prompt hong kong banks to follow suit
ford launches mark eurobond with currency warrants
world stocks of silver are large enough to accommodate any changes in the supply demand equation this year with industrial consumption expected to again exceed mine production the dealer house handy and harman said in its annual review of the silver market
though bankers feel they generally have the tacit backing of the saudi arabian monetary agency sama the kingdoms central bank some say it should take a more active role
some 10 indian ships have been held up at calcutta port after four days of industrial action by local seamen a spokesman for the shipowners association insa said
the bundesbank left credit policies unchanged after todays regular meeting of its council a spokesman said in answer to enquiries
withdrawals amounted to 336 tonnes
under the paris accord tokyo promised a package of measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and cut its trade surplus
major increases for west germany venezuela the netherlands and saudi arabia were partially offset by reductions for unknown destinations usda said
gencorp earlier urged shareholders to reject a 100 dlr per share tender offer from the partnership which includes wagner and brown and afg industries inc
only venezuela is paying back principal
lloyds bank plc lloyl said it is cutting its base lending rate to 105 pct from 11 pct effective tomorrow
japanese will be aiming for new businesses in high technology areas
united press international announced that milton benjamin had resigned as company president and the news agencys chairman mario vazquez rana a mexican newspaper owner would take over his duties
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
it said the 223 dlrs a share earned last year was the highest in five years but still well below the companys all time high of 406 dlrs a share in 1979
us personal income rose 09 pct in february spending up 17 pct
western digital corp said it plans to call for redemption on april 6 all of its approximately 47 mln dlrs principal amount of 6 3 4 pct convertible subordinated debentures due 2011
because of its arrears guyana has been unable to draw down a 40 mln dlr world bank loan for a bauxite industry rehabilitation project
the company said it may now buy its stock at its discretion depending on market conditions
ive always believed at the right price wendys would consider an offer but i cant believe this is the right price at the right time freedman said
shultz is set to arrive in moscow april 13
this compares with a 15 billion deficit in 1985 and while it is the first surplus since 1979 is substantially lower than the 50 billion surplus forecast by the previous socialist government before they lost office in march last year
polly peck ppkll raises 203 mln stg
ssangyong construction co ltd of south korea has signed a 483 mln us dlr financing package to fund the construction of a hotel and commercial complex in jakarta the agent wardley ltd said
the commonwealth bank of australia said it will lower its reference rate for loans to 1575 pct from 1625 pct and its overdraft reference rate to 1625 pct from 1675 effective june 24
he said sumitomo is cautiously optimistic about entering the securities business here through its swiss universal bank subsidiary banca del gottardo
formula shell has achieved strong sales in japan despite a higher price than regular octane gasoline which has prompted other oil firms to offer a rival product the sources said
jude medical is a takeover target
investment firm boosts ldbrinkman dbc stake
ruding against further dollar fall trade curbs
japanese net purchases of foreign securities in the first half of march fell an estimated one billion dlrs compared with average monthly net purchases of 77 billion for the whole of 1986 finance ministry sources said
the new company will have proven reserves of 95 mln barrels of oil and 209 billion cubic feet of gas lasmo said
the lay offs represent about two thirds of the original workforce
currency intervention timing crucial analysts
the deal is available in denominations of 5000 dlrs and will be listed in luxembourg
oper shr two cts vs 10 cts oper net 162300 vs 773400 revs 166 mln vs 165 mln avg shrs 8282480 vs 8045493 note excludes gains of 138000 dlrs or two cts shr vs 733000 dlrs or nine cts from benefit of tax loss carryforwards
business loans on the books of major us banks excluding acceptances fell 896 mln dlrs to 27561 billion in the week ended june 10 the federal reserve board said
klm expands talks with british and commonwealth
fitzwater said the president was forced to act in the japanese microchip case because tokyo had failed to fulfill an agreement to make some corrections noting that there are enormous pressures in the congress and the land for the united states to take a tough stand he said this was a case where we felt we simply had to act fitzwater said the decision to impose sanctions was well considered by this administration and not taken lightly while the white house official held open the possibility that washington and tokyo will settle their trade dispute he indicated a settlement probably would not come in time to head off the sanctions
it said the extension was subject to further extensions by the board and is conditional on no person acquiring beneficial ownership of 20 pct or more of gencorp before april 6
dealers said the intervention halted a sudden late morning drop to a low of 14865 yen holding the dollar steady until midsession at about 14880
opposition to a reopening of the 1985 farm bill at this time is the major reason cited by those against an expansion of the bill committee staffers said
dixons won control of cyclops with a 95 dlr a share tender offer
the sources said total saudi refinery throughput fell slightly in february to an average 11 mln bpd from 12 mln in january because of cuts at the yanbu and jubail export refineries
qtly div three cts vs three cts previously pay april 15 record april one
traders at the chicago board of trade said attention in the grain markets has shifted from concern about burdensome supplies to the outlook that a lower dollar will stimulate export demand
no shares will be given to applicants for fewer than 100 shares
over the past five years we paid back 45 billion dlrs and received 11 billion this is a very big effort he said
texas instruments common closed at 16725 dlrs up 2 1 8
the mint uses mainly newly mined us gold for the coins as long as this is available at market prices
the committee also granted export certificates of 35000 tonnes of barley at 13735 ecus per tonne but rejected all bids for the export of soft feed wheat they said
new applications for unemployment insurance benefits rose to a seasonally adjusted 340000 in the week ended june 6 from 310000 in the prior week the labor department said
a company spokesman said the board expects to make a recommendation shortly but could not specify a time period
blockbuster said it will issue 80460 shares of its common stock for all the net assets of southern video
american brands sees record first quarter results
volcker says more stimulus abroad needed for adjustments in trade balances
k mart corp raises dividend 176 pct votes three for two stock split
rostenkowski insisted the more moderate approach was necessary if the house wanted to pass a bill reagan would sign into law
pricing will probably be april 7 the statement said
chartered bank general loans outstanding fell 169 mln dlrs to 12603 billion dlrs
chilean copper workers elect left wing leaders
american shared hospital services amsh year
fed chairman alan greenspan has said the most recent discount rate increase on september 4 was largely aimed at quelling inflationary fears in financial markets which he said were largely unfounded
the transactions are subject to definitive agreements and government approvals
harcourts recapitalization will come under scrutiny of a us court in orlando fla
rumors of an impending deal have coursed through wheat markets since officials from the two countries held their customary semi annual grain talks in february
the prince met vice president george bush on monday after us naval forces attacked offshore iranian oil platforms in what washington said was retaliation for an iranian attack on a ship moored off kuwait and flying the us flag
the bank is the latest to cut prime rates in recent days following a continuing decline in market rates
australian government to pay subsidies usda
eleven and three quarters pct is way above money market rates this money market signal was apparently not accompanied by any sterling sales on the foreign exchanges talk of which had inhibited strong rises yesterday and tuesday so buyers came strongly into the pound
vr business brokers inc said it closed the sale of a controlling interest in its comon and preferred stock to vr acquisition corp a delaware corporation controlled by an investment group led by c
mayfair super markets inc myfra 2nd qtr feb 28
under the arrangements it would also arrange for the repayment of 645 mln stg in inter company debt
1985 year oper net excludes loss from cumulative effect of change in accounting principle of 67000 dlrs or one ct a share
i think the paris agreement represents evidence that international economic policy co ordination is alive and well baker said
the company the second largest natural gas producer in texas said it has gas reserves of 12 trillion cubic feet and over 1000 miles of pipeline and gas gathering lines
the company said if the merger is approved by shareholders of both companies the shareholders of john paul richards would become majority shareholders owning 60 pct of the common stock of the new public company
interest in gold mine stocks may also wane if stock exchange rallies under way in many countries start to waver
despite the fall gyllenhammar said sales of industrial products have never been higher and volvo cars and volvo trucks were both completely sold out at year end
commerzbank overseas finance nv is issuing a 50 mln stg eurobond due march 31 1992 paying 9 5 8 pct and priced at 101 1 4 pct joint lead manager samuel montagu and co ltd said
wam said the officials would be discussing implementation of last sundays agreement in doha by gulf cooperation council gcc oil ministers to help each other market their crude oil
frank b
gros said he wished the 90 day rule was more flexible and said he would be willing to sit down with the banks to see if there was a way round the problem
the notes are designed to qualify as primary capital for federal reserve board regulatory purposes the bank said
net for nine mths 1987 includes a cumulative effect of a change in accounting for gain on pension assets reversion of 101 mln or 42 cts a shr
australian trade unions said they have launched week long strikes and other industrial action in new south wales nsw to protest against new laws that would reduce injury compensation payments
western digital wdc redeems debt
the ec commissions proposals to shorten the intervention period and lower monthly premiums for cereals and increase the financial burden on the sugar producers will also result in lower real prices for producers he told farmers here
princeville pvdc to sell its air operation
the change in yield estimates is due to very high temperatures and inadequate rainfall since early in the year in the soybean producing belt of southern cordoba and santa fe and northern buenos aires province
the improvement in the companys 1986 results after four years of declining earnings reflects a sharp albeit temporary rise in freight rates in the international tanker markets last summer hyman said
shr loss 26 cts vs loss one cts net loss 699000 vs loss 20617 revs 883000 vs 11 mln year shr loss 62 cts vs loss eight cts net loss 17 mln vs loss 185003 revs 36 mln vs 45 mln
petrol supplies would also be limited
newman industries plc said it was discussing the possible merger of its electric motor operations with hawker siddeley group plcs hsidl brook crompton parkinson motors ltd unit
a new company lasmo canada inc will be formed
the sources said it is still unclear when registrations will be reopened although most expect it to be by the end of this week
an arbitrageur noted that dart controlled by chairman herbert h
prudential insurance co of america said it will enter the real estate brokerage business in 1988 and plans to develop a national network of franchised brokerage offices
robbins and myers inc robn 2nd qtr feb 28 net
federal funds hovered at 6 1 8 pct this morning after averaging 632 pct yesterday
investcorp raises 60 mln dlr facility
simon said there is a good chance that current world oil prices of about 18 dlrs a barrel could be maintained and that the more stable market is due mostly to changes in policy in saudi arabia and other opec members to control oil production
bank of england invites borrowing at 10 pct
oper shr 16 cts vs two cts oper net 467000 vs 52000 sales 8954000 vs 6338000 avg shrs 2939459 vs 1979916 nine mths oper shr 45 cts vs 18 cts oper net 1068000 vs 387000 sales 245 mln vs 196 mln avg shrs 2299764 vs 1979916 note current year net both periods excludes 176000 dlr gain from retirement of notes
armcos 1988 earnings could be significantly higher he said
everybody wants an open investment policy but there have to be some exceptions for the national interest baldrige was quoted as saying
pointing out that such funding was difficult today in the best of circumstances he said it would be impossible if congress did not have confidence in bank lending policies
waxman industries inc waxm regular payout
last week dealers said the federal reserve intervened to stop the dollar rising against the mark which had breached 186 to the dollar
lesco inc lsco 1st qtr feb 28 loss
the agreement to be implemented in two stages in july this year and july 1988 means the minimum aid component in mixed credits will be raised to 35 pct from 25 pct and to 50 pct for credits covering exports to the worlds least developed nations
herrington asked his reaction to the white house reaction said if i were the white house i would be cool too
the yugoslav firms in turn will export oil products to france
york said it will use the 11 mln dlrs as a construction pool to initially fund a series of cogeneration projects which it willk design build partially own and operate with six projects already committed
american republic bancorp arbco 3rd qtr net
cpc said it could not accept 120000 tonne parcels and proposed to lift 30000 tonnes in eight shipments
canadas gross domestic product by industry rose a seasonally adjusted 12 pct in december the largest monthly gain since april 1986 statistics canada said
texaco refining and marketing an operating subsidiary of texaco inc said it would cease to post crude oil prices for west texas crudes at the end of this month following a decision to discontinue purchase of crude oil from leases a texaco spokesman in houston said
the dollar is likely to stay within a range of 180 to 184 marks said gisela steinhaeuser senior dealer at chase bank ag
utilities which were a positive influence in the overall 1986 trend should be a pocket of strength again this year
alcan australia bids for alcan new zealand
cable has a 20 pct stake in one of the two groups trying to compete against japans kokusai denshin denwa co ltd which monopolises japans overseas telephone business
net service receipts were 223 billion dlrs in 1986 compared with 217 billion dlrs in 1985 the department said
domtar plans two for one stock split
the most serious us outbreak of the disease occurred in 1971 73 in southern california where the disease spread from infected pet birds to a dense poultry population and nearly 12 mln birds mostly laying hens were destroyed at a cost of 56 mln dlrs the department said
the agreement subject to shareholder approval is expected to close by the end of the year the company said
they continued the process of multilateral surveillance of their economies pursuant to the arrangements for strengthened economic policy coordination agreed at the 1986 tokyo summit of their heads of state or government
the company said these systems are self contained electrical generating facilities using alternate power sources such as photovoltaic cells to replace public utility power sources
but a western diplomat warned that potential us buyers would not give china the warm reception it received in japan
inoc then proposed to deliver eight shipments of 30000 tonnes each
at a news conference last week he warned that latin defaults were a distinct possibility in the long run
cambridge said it expects revenues for the first quarter to be approximately the same as those recorded for the fourth quarter ended december 31 1986 of 1025961 dlrs
outside the mainly state controlled high technology sectors french industrial goods were increasingly ill adapted to demand and over priced the report said
northern star holdings ltd said britains associated newspapers holdings plc will hold 999 pct of its enlarged issued capital after applying to acquire 159 mln shares in its recently announced placement
monoclonal antibodies mabs buys company
willis already owns 205 mln shares or 462 pct and has received acceptances from stewarts directors for a further 247469 shares
top discount rate at uk bill tender rises to 93456 pct
the central bank purchased bank bills outright comprising two mln stg in band one at 10 7 8 pct and 22 mln stg in band two at 10 13 16 pct
britton lee inc said it expects to report a loss on lower sales than it had anticipated for the first quarter
the company had average assets of 3998 mln dlrs from continuing operations and 298 mln dlrs from discontinued operations in 1986 according to its annual report
standard and poors corp said it raised to b from ccc 2689 mln dlrs of equipment trust certificates of texas air corps eastern air lines inc unit
board of foreign trade director vincent siew told reporters on saturday us officials told him in washington last week that unless taiwan allowed its dollar to rise faster it would face retaliation
spectramed inc spmdo 3rd qtr net
us treasury secretary james baker said he believes brazil will strike an agreement with its private creditors
philippines to sign formal debt accord in july
what they have done is in direct violation of the federal aviation act usair said
the white house said the rise in interest rates was unfortunate in a general sense but reflected market forces
the company said the settlement is subject to approval by the delaware chancery court which is expected to take about 60 days
imports in the fourth quarter totalled 26361 billion lire down 14 pct from the 1985 fourth quarter and down 66 pct from the third 1986 quarter istat said
under the bilzerian proposal the dividend rate on the preferred stock would be set so that in the joint opinion of the financial advisor to bilzerian and the financial advisor to pay n pak the preferred stock would trade at its liquidation value on a fully distributed basis the company said
quebec issues 30 billion yen eurobond
qtly div five cts vs five cts prior payable april three reocrd march 20
the 10 mln shares on offer are expected to bring a cash call in germany for well over two billion marks
we would like to see the indonesian government continue the adjustment process to move towards increased deregulation of the economy conable told a press conference at the end of a three day visit to jakarta
marcade group inc mar 1st qtr may 2 net
usair u cleared to buy piedmont pie shares
asamera said the mine produced 116514 ounces of gold in 1986 and is expected to produce 130000 to 140000 ounces this year
if you want my objective view i dont expect a drastic improvement in our trade imbalance
the government of alberta also converted a 25 mln dlr debenture into common shares and converted about 25 mln dlrs of shareholders loans into common shares the company said
bayly bayl buys majority of chutes
the bundesbank confirmed the german trade surplus widened to 1045 billion marks in february from januarys 720 billion
integrated circuits inc said it set march 17 as the record date for its previously announced 10 pct stock dividend
federal industries paper issue just in canada
they have a substantial portfolio in real estate
neiman marcus group inc nmg 2nd qtr aug 2 loss
the buffer stock remains the sole instrument of market intervention for price stabilisation and its maximum capacity is unchanged at 550000 tonnes xuto added
the division conducts rail operations over about 2000 miles of railroad in minnesota wisconsin michigan and illinois
the maximum 80 pct levy on old oil that discovered before september 1975 is now forcing the broken hill pty co ltd brkns exxon corp xon partnership to shut in production accelerating the decline in output and reducing government revenue he said
uk consumption of lead and zinc in all forms during january rose to 26314 and 18778 tonnes from 24967 and 17929 tonnes respectively in december latest figures by the world bureau of metal statistics wbms show
publicly japanese officials remain conciliatory in the face of what they see as us aggression
philippine coconut industry worried by ec tax
for cash alternatives of more than 10 mln avana shares morgan grenfell as agent for participants will make a separate offer to purchase at 300p per share net of expenses up to 463 mln ranks hovis new shares to which such shareholders will be entitled under the increased offer
but new outflows of funds to the us will be decreasing however this was already evident three months ago he said
budget pact cuts us farm funds 125 billion dlrs
auditors for public service co of indiana inc lifted a qualification in effect for two years on its 1986 financial results according to the companys annual shareholders report
cathays six month turnover rose 198 pct from year earlier levels but profits rose 69 pct
outstanding bank credits to companies and private individuals remained virtually unchanged in february
shr 84 cts vs 75 cts net 475000 vs 425000 total income 7248000 vs 7286000 1st half shr 161 dlrs vs 150 dlrs net 911000 vs 847000 total income 146 mln vs 142 mln
they said they have spent 35 mln dlrs on their stake so far
brazils 1986 87 cotton crop estimate has been reduced to 710000 from 735000 tonnes lint basis the us agriculture departments officer in sao paulo said in a field report
gasoline stocks were at 2456 mln barrels some 172 mln barrels above year ago levels
kinder care inc projected its 1987 earnings to be 44 mln dlrs
the managing director of the international monetary fund also participated in the meeting
ecolab said officers and directors of chemlawn have granted it options to acquire an aggregate of 2535435 chemlawn shares or about 248 pct for the tender price again unless a higher tender were to be made by another party
asked if baldrige intended to recommend sanctions sen
todays foreign ministry statement carried by the kuwait news agency kuna said the recent detention of kuwaiti fishing vessels by iran was not the first
agency rent a car inc said its board declared a five pct stock dividend payable may 22 to holders of record on may 8
yergin said that the poll which was conducted in january by a former congressman orval hansen showed support for the oil import fee from 22 pct of the congressmen surveyed largely as a means of protecting the domestic petroleum industry
some analysts said icahn may be trying to acquire usair to make his own airline a more attractive takeover target
weinberger said us warship movements in the gulf area were not unusual
the federal national mortgage association said it arranged a swap of 250 350 mln dlrs in stripped mortgage backed securities with shearson lehman brothers inc
the departure of james bakers closest aide deputy treasury secretary richard darman will not change the course of washingtons domestic and international economic policies us officials said
however the loan was not signed until november 5 and bankers said that this year barbados wanted to have the financing in place early to give it greater flexibility in drawing the funds over the course of the year
individuals who are very well off are also investing in the bonds to gain tax benefits while only small investors are going for equities or debentures floated by private companies on a selective basis the spokesman said
upon exercising the a warrants investors also get two warrants for the b series
although the projected increases in demand for opec oil should strengthen world prices wellemeyer said he believed the organization would hold its official price below 20 dlrs a barrel for some time to prevent residual fuel users from switching to natural gas supplies
an investor partnership seeking to acquire gencorp inc said it would attempt to unseat the companys board of directors and take other hostile actions if the firm refuses to discuss its 23 billion dlr takeover bid
masao suzaki senior economist at the bank of tokyo said weakened consumer confidence was the most worrying factor
tandy brands tab sells unit
the fed said the decline in energy materials use and durables goods materials were the reason for the decline over the past year for producers of industrial materials
shr profit 20 cts vs loss two cts net profit 2665000 vs loss 202000 revs 12141000 vs 5993000 year shr profit 35 cts vs loss 11 cts net profit 4653000 vs loss 1167000 revs 351 mln vs 180 mln note company corrects reporting period to 4th qtr and year from 3rd qtr and nine mths
industry sources said the plan presented to narjes by the ec steelmakers lobby group eurofer would retain the quota production system at least until the end of 1990
rabbit software corp said it has agreed in principle to acquire privately held communications hardware maker micro plus ii corp for about two mln common shares with closing expected by may
four mln common shares of georgia gulf corp common stock are being sold at 3425 dlrs a share said sole manager of the underwriting goldman sachs and co
seasonally adjusted employment in february was 11777000 compared with 11747000 in january while unemployment slipped to 1252000 from 1255000
pre paid legal ppd sees higher sales growth
the source said ongpin is unlikely to come to the us to press his case and was expecting the philippines bank advisory committee headed by manufacturers hanover trust co to negotiate the spread reduction by telex
foreign debtors accounted for 24 pct of this credit volume and latin american debtors accounted for 147 pct of total lending to foreigners
singapore ends scheme to help broking firms
last night the company urged shareholders to reject the tender
ny traders expect china to step up sugar buying
shr nil vs loss two cts net profit 2900 vs loss 43500 revs 1660300 vs 950000 12 mths shr loss 30 cts vs loss 37 cts net loss 578900 vs loss 713300 revs 5112100 vs 3659600
we also take into account other factors such as prices at which the goods and services are offered to india the trade official said
oakwood homes corp is raising 25 mln dlrs via an offering of convertible subordinated debentures due 2012 with a 6 1 2 pct coupon and par pricing said lead manager donaldson lufkin and jenrette securities corp
uk money market surplus revised to 250 mln stg
home shopping network inc announced it agreed with underwriter drexel burnham lambert inc to amend its recent filing for an offering of 400 mln dlrs of 15 year convertible subordinated debentures in order to accommodate demand from europe
williams industries inc wmsi 2nd qtr net
todays relatively stable oil prices of about 18 dlrs a barrel are not enough to spur a return to the heady days of 1981 when the us drilling rig count soared to a record high of more than 4500 and oilfield roustabouts commanded premium wages
harcourt brace said we do not wish to put undue pressure on harper and row but we also in fairness to our own shareholders cannot allow an offer of such magnitude to lie on the table too long harcourt said three of its senior officers and its investment bankers met yesterday with investment bankers for harper and row to discuss the harcourt brace offer
the company said the nasd has granted it an indeterminate amount of time to resolve issues raised by the nasd on the market making of rlrs rlr securities group inc subsidiary in shares of the parent company
initial 1987 crop estimates will probably be compiled towards the end of may he said
mercantile said sales for the first nine weeks of its fiscal year were up 29 pct to 2979 mln dlrs from 2896 mln dlrs a year before with same store sales up 05 pct to 2886 mln dlrs from 2873 mln dlrs
associates corp issues 15 billion yen bond
it said the assets purchased include processing agreements software maintenance contracts and the supporting software
comdata network inc said it has received a letter from drexel burnham lambert inc stating that subject to conditions the company could raise up to 235 mln dlrs in debt securities to finance the previously announced merger of a newly formed corporation controlled by welsh carson anderson and stowe iv and comdata
european free market tin traders made a somewhat muted response to plans for a kuala lumpur dollar based tin futures market due to be launched in october
its annual revenues are about 18 mln dlrs
perus short term foreign trade credit lines have more than doubled to 430 mln dlrs under president alan garcias 20 month administration
us farm credit bank to sell bonds
usda last night notified the grain industry that effective immediately all gulf differentials used to price interior corn would be widened on a sliding scale basis of four to eight cts depending on what the differential is
canadian and egyptian wheat negotiators failed to conclude an agreement on canadian wheat exports to egypt during talks last week but the canadian team will return to cairo for further negotiations canadian embassy officials said
we believe that a solid case continues to exist for soviet eep eligibility and the recently announced and reported soviet purchases of us corn indicate a soviet willingness to purchase us grain if it is competitively priced nawg said
itt corp itt declares dividend
they would give no details noting that the white house had not commented on the decision
klopfenstein said that ccc will not be able to relocate grain in any significant amount this fall so certificates will be used in various programs to relieve storage tightness
azpurua said the governent plans to pay 21 billion dlrs in public and private debt principal this year
hong kong provides new guarantee for mtrc debts
syngold has earned a 20 pct interest in the deka property from the operator corp falconbridge copper
nearly 108 mln tons of ore was milled three pct higher than the prior year while revenues rose 17 pct to 165 billion rand and profits increased 65 pct to 831 billion rand the chamber reported
icco buffer to buy 3000 tonnes cocoa june 3
the bill also would require the foreign agricultural service fas to have at least 850 full time employees during fiscal years 1987 89
dealers said that the form of the reporting has not yet been spelled out
the life of the issue will be 12 years
rothmans international plc rotl aims to set up a joint venture with jinan cigarette factory in shandong china to produce high quality cigarettes some for export chinese newspapers said
westlb issues 50 mln australian dlr eurobond
smaller gaf in 1986 earned on an operating basis 807 mln dlrs or 222 dlrs per share on sales of 7538 mln dlrs
the officials confirmed a new york times report that kuwait wants to transfer some of its oil tankers to us or soviet registration in hopes iran would be reluctant to launch new silkworm missiles at superpower flags
norsk hydro a s nhyol will operate nearby block 6407 10 with partners statoil norsk agip a s royal dutch shell groups rdas a s norske shell and deminex unit deminex norge a s
he said production costs had risen to 40 pct of farmers earnings from 20 pct in 1982 and lower investment had caused the area of irrigated land to fall
female unemployment rose to a record 31 pct in february from the previous record 30 pct marked in january 1987 and in april august september and december last year
on monday us navy warships blasted the rostam platform and navy personnel stormed a second platform a few miles away
the commission also discussed the possible participation of spanish companies in the cuban tourist industry
he said the board has authorized management to explore alternatives aimed at providing shareholders with a financially superior alternative to the general acquisition offer
assets and liabilities of finance companies fell to 687 billion dlrs from 695 billion and compared with 685 billion respectively
the bank of england said it had provided the money market with late assistance of around 85 mln stg
youre in a cat and mouse game on how youre going to up the price
subsidiary of hongkong and shanghai banking corp
brazil insists its debt service obligations should in no way interfere with growth priorities a position putting the issue of debt relief squarely into focus for the first time officials and delegates said
increased provisions for possible bad debts at home and abroad particularly in latin america had lowered profits androsch said but declined to give an exact figure
the impact of recovering oil prices would come through faster on the downstream side than on the upstream as such a high proportion of upstream activity centred on gas which typically reacted to oil price changes with about a half year lag analysts said
officials working on the governments short term economic package said it would probably include interest rate cuts on loans by government corporations deregulation measures to pass on some of the benefits of the strong yen to consumers in the form of lower prices and accelerated public investment
the bond is available in denominations of one mln yen and will be listed in luxembourg
japanese trade representative tsomu hata told an informal general agreement on tariffs and trade gatt meeting that in addition to demand boosting measures adopted last september a comprehensive economic program will be prepared after the 1987 88 budget is approved
taiwans second quarter imports seen rising
gordex mineral ltd said geologists located more than one mln tons of gold bearing deposits 0057 ounces per ton at cape spencer
tata iron and steel pre tax falls 37 pct
the bank of japan will sell tomorrow a total of 800 billion yen worth of financing bills from its holdings to help absorb a projected money market surplus of 1700 billion yen money traders said
in a filing with the securities and exchange commission the group said it sold 19500 material sciences common shares between feb 11 and 19 at prices ranging from 2400 to 27648 dlrs a share leaving it with 239500 shares or 47 pct
sasco products inc year loss
the second transaction a 16 mln stg credit for the purpose of working capital is being arranged by rothschild alone on behalf of the greycoat group plc itself
one of the underlying ideas of the rules package is transparency meaning virtually all the buffer stock managers market activities will be public and he will have as little discretion as possible delegates said
he said in a television interview that there is nothing in the events of the past few days to increase the upward pressure on uk interest rates sterling has so far stayed solid during the crisis backed by strong economic fundamentals and by 10 pct bank base lending rates analysts said
in the last two years acreage under sugar cane and beet has fallen sugar mills are underutilised output has dropped and cannot meet demand that is rising every day it said
some 50 pct of the purchasing managers reported that they were paying higher prices in march than at the end of 1986
fruit loom ftl to sell unit for 145 mln dlrs
us officials had hoped a ruling against the quotas would be issued earlier this year but the gatt panel decision has been delayed by the illness of the tribunals chairman
they also have some attractive leaseholds on their restaurants murren said
info data inc said it will acquire usa outdoor advertising inc of jacksonville fla in exchange for stock
terms were not disclosed
the company said the major causes for the reduction were an unfavorable lifo adjustment and softer than projected sales in the quarter due primarily to unfavorable weather
gulf said it sold its remaining stake in imperial of 6631222 shares and 100000 units of loan stock for 748 mln dlrs based on an exchange rate of one pound sterling at 158 dlr
house subcommittee votes credit card rate cap
the return is guaranteed through december 31 1988 the company said
oak had a tax loss carryforward of 125 mln dlrs at the end of 1986
the prudential insurance company of america a privately held company said today that net income in 1986 rose to 28 billion dlrs from the 23 billion dlrs reported the year earlier
api says distillate stocks up 285 mln bbls gasoline off 237 mln crude off 113 mln
shr 116 dlrs vs 109 dlrs net 1281 mln vs 1183 mln avg shrs 1088 mln vs 1057 mln nine months shr 40 cts vs 312 dlrs net 532 mln vs 3351 mln avg shrs 1080 mln vs 1052 mln note prior period data have been restated to include on a pooling of interest basis the august 31 1987 acquisition of rainier bancorporation
treasurys baker says throwing money at debtor nations wont work
one has to look at how it the market is moving he said adding it is not only our own case it is also the american case he said that the west german export industry has been hit hard by the dollars sharp fall and would probably like to see some correction now
he said hitting the platforms had spared iran the embarrassment of casualties on its own soil possibly avoiding an escalating spiral of attack and counterattack
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siemens said it will therefore need to continue its review beyond march 16 to determine whether certain representations and warranties are true
the central bank said it issued 496 billion dlrs worth of certificates of deposit cds today after issuing 403 billion of similar cds yesterday bringing the total value of cd issues in 1987 to 13946 billion
icco council agrees cocoa buffer stock rules
the adjusted world price is at average us producing locations near lubbock texas and will be further adjusted for other qualities and locations
for 980 dlrs a night scott perry a 23 year old budding english teacher from new zealand shares an unheated berth sized twin room in the japanese flop house perry has budgeted 26 to 33 dlrs a day while he looks for work
it said four directors other than cohen have resigned from the board
iran leader vows revenge on us raid in coming days
it did not revise its sugar consumption estimate of 253 mln tonnes for the 1986 87 sugar year ending september 30
qtr ended june 7 shr six cts vs 17 cts net 1332000 vs 3658000 sales 583 mln vs 516 mln nine mths shr 40 cts vs 25 cts net 8875000 vs 5034000 sales 1584 mln vs 1336 mln
after being adjusted for seasonal fluctuations the figures look a bit better but not much
shr profit seven cts vs loss 177 dlrs net profit 446000 vs loss 9370000 revs 150 mln vs 133 mln six mths shr profit eight cts vs loss 187 dlrs net profit 523000 vs loss 9883000 revs 271 mln vs 271 mln avg shrs 5324464 vs 5324350 note trillium telephone systems inc
other countries could be added to the list
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a group of new york investment companies told the securities and exchange commission they have acquired 173000 shares of moore handley inc or 69 pct of the total outstanding common stock
watanabe said progress was being made towards a merger agreement and added that japanese industry agreed with the government on having only one private consortium as two companies might invest excessive amounts
mandatory production controls debated at apc
hikmat nashashibi president of the arab bankers association said arab banks have to shake off their old mentality of commercial banking and concentrate more on investment banking
aflatoxin comes from moulds which develop in copra when it is not properly dried or ground
corrects last assay result to lead from zinc
in a filing with the securities and exchange commission merrill lynch capital partners inc said it would receive a 30 mln dlr fee from the surviving company for acting as dealer manager of the merger after the borg warner deal is completed
1986 net excludes charges from debt restructuring of 1976000 dlrs in quarter and 3800000 dlrs in year
mobil raises west coast crude prices between one dlr and 175 dlrs bbl today
overseas exploration fell to 28 mln from 58 mln in 1985
iran warns us against raising tension in gulf
it was really an enormous drop a reduction in rates and that to me is the critical element he told 
the surplus on commission business which had soared by a quarter in 1985 rose by 116 pct last year thanks almost exclusively to growth in securities commissions seipp said
the new price for high grade zinc is 37 us cts and 49 1 2 canadian cts a pound the company said
lower money market rates achieved by widening short and long term interest rate differentials also encouraged investors to re invest funds parked in liquid accounts mueller said
over the next 15 months 85 mln sdrs can be drawn under a standby arrangement in support of the governments economic and financial program
the significance that retreat will emerge from the terms of the bundesbanks next tender for a securities repurchase pact on tuesday and its result on wednesday money market economists said
the firms will apply to form the cartel to the ministry of international trade and industry today and approval is expected later this month the officials said
tanzania raises fuel prices taxes in budget
the group said vbi and the elder vik bought a combined 298200 scandinavia fund common shares since march 13 at prices ranging from 9500 to 10000 dlrs a share
that compares with 147 gallons per box previously and 138 gallons per box from the 1985 86 crop
the central bank made outright purchases of bank bills comprising 46 mln stg in band three at 9 3 4 pct and seven mln stg in band four at 9 11 16 pct
un conference formally adopts new international natural rubber agreement chairman
the total number of jobless stood at 495208 compared with 508392 in february and 504652 in march last year
in a filing with the secruties and exchange commission the edelman dominion group known as samjens acqusition corp said it sold options to buy 258800 burlington common shares reducing its stake in the company to 3408813 shares or 1233 pct from 3667313 shares or 133 pct
warrington said it decided to rationalize the balance of its ski businesses which is expected to result in a divestment loss which could outweigh the net gains on the sales of its shoe and ski boot divisions
no doubt there was some damage
it said 40 billion lire will go to state airline alitalia for the purchase of 10 mcdonnell douglas corp mdn md82 aircraft
talyzin said the ruling politburo concluded at a recent meeting that an improvement in economic performance depended to a large extent on conserving resources better
in a speech at the state opening of parliament moi said high coffee prices and cheap oil in 1986 led to economic growth of five pct compared with 41 pct in 1985
hamburgische lb bond raised to 75 mln canadian dlrs
in contrast producers wanted stop gap quotas to plug the seemingly bottomless market and were prepared to allow these to lapse should lasting agreement not be found
a significant part of this monthly decrease was attributable to the impact of the increase of the canadian dollar on prices for wood pulps newspaper aluminum nickel and motor vehicles the federal agency said
thus the researchers concluded the majority of cases appear to have been caused by eating hamburger that was at least partially cooked the researchers said the results show that food animals are a major source of antimicrobial resistant salmonella infections in humans and that these infections are associated with antibiotic use on farms
the bank also revised its estimate of the market shortage up to 300 mln stg from 250 mln this morning
the senate budget committee has called for a deficit of nearly 134 billion dlrs with about 185 billion dlrs in new taxes and about the same amount in spending cuts
midway can redeem the rights at two cts each at any time prior to expieration of 10 days after the acquisition by any person of 20 pct or more of the companyts common it said
payment date is may 5
we cant force them to come back the official said
citibanks oslo treasury head bjoern sejerstad told citibank one of seven foreign bank subsidiaries operating in norway lost money because of restructuring for investment banking away from commercial banking and an economic slump in norway following last years plunge in oil prices
va polypropylene plant
12 mths 1985 excludes discontinued operations gain 9837000 dlrs or 212 dlrs per share and excludes gain 813000 dlrs or 17 cts per share for net operating loss carryforward
spethmann said income from associate companies had also been good in early 1986 87
earlier this month the companys occidental fire and casualty co unit paid 26 mln dlrs to a unit of mutual of omaha under a commutation agreement
about half of brazils 40000 seamen have returned to work after accords with 22 companies and the national strike which began on february 27 looks close to ending a union spokesman said
it estimated the crop at 384 mln bags compared with the previous years 433 mln bag harvest
southwestern energy co said it reached an agreement with arkla energy resources for arkla to carry gas owned by southwestern subsidiaries
emerson radio corp said it has sold 33 mln dlrs of 8 3 8 pct senior notes due 1997 to institutional investors
the company added that in 1986 its return on equity reached 173 pct up from 155 pct in 1985 and close to its goal of 18 pct
the agreement followed a year of turmoil on oil markets which saw prices slump briefly to under 10 dlrs a barrel in mid 1986 from about 30 dlrs in late 1985
goldman sells most 1st pennsylvania fpa stock
the loan has a six year grace period and interest is at 1 8 pct over the london interbank offered rate for the first two years with the margin rising to 1 4 pct thereafter
the committee also dropped a provision identifying which countries would be the focus of the trade missions activities
as a result he said thailand could fail to fill some 3000 tonnes of its 19000 tonne tin export quota allocated by the association of tin producing countries atpc for the year ending february 1988
the rating change reflects expectations of lower fixed charge coverages and lower internal funding over the next several years duff and phelps said
alusuisse aluzz year 1986
first mercantile currency fund inc 1st qtr net
the company said it informed triton of its present good faith intention to buy more than 15 mln dlrs worth of triton stock
the cut follows a trend toward lower rates started last month and accelerated by westpac banking corp which yesterday cut its prime to 1750 pct from 1825 pct
portuguese trade deficit narrows in 1986
no immediate explanation was given for the changes
slater industries inc said it planned a 15 mln dlr modernization of its slater steels corp fort wayne specialty bar division in indiana
a total of 1461 billion dlrs of bonds maturing on april 20 will be retired with excess cash and internally generated funds
swiss and american banks had no trouble attracting top german managers
this kind of acreage reduction will mean a significant reduction in production an analyst said
the sources said the philippine government estimated the entire program would cost 60 billion pesos
deutsche bank issues 150 mln australia dlr bond
however the company said it has not closed its books for the quarter and release earnings april 20
in 1986 a season that ran from april 3 to december 27 the seaway moved 376 mln metric tons of freight between montreal and lake ontario and 416 mln tons on the welland canal linking lake erie and lake ontario
general electric credit corp is issuing a 75 mln australian dlr eurobond due april 16 1990 paying 15 pct and priced at 101 3 8 pct lead manager hambros bank ltd said
i think this could be a very important factor for us semiconductor manufacturers industry analyst elliot levine of ladenburg thalmann co said
call money traded today at 385 95 pct up from 380 90 yesterday
holmes said that in the upstream us sector the third quarter of 1986 had been the worst of all
under the deal agreed by ec foreign ministers argentina will gain additional trading rights on a series of products including meat fish and cereals by products
some of this has been covered in the market here and more possibly will be traders said
shr 43 cts vs 41 cts net 316000 vs 298000 sales 4857000 vs 4543000
they said a further half point cut in base rates to 9 1 2 pct was bound to occur within the next week and rates may shed a further half point soon if markets remain buoyant
talman home federal savings and loan association chicago is full name of company
us cargo preference funding accord seen near
capital repayments totalled two mln dlrs
mitek als said it has introduced a line of 15 page per minute desk top laser printers
the two year loan with bullet repayment carries interest at 5 8 of a percentage point over the london interbank offered rate
latest year net includes nine mln dlr provision for loss on disposition of two abraham and strauss stores and preopening expenses for another
economists said that low mortgage rates also were a spur to building last month
the company said it acquired two mln enzon shares for 15 mln dlrs with loans to enzon of two mln dlrs and interest of 30000 dlrs credited against the purchase price
dinner bell foods inc said the talks concerning a proposed leveraged buy out of the company have been terminated
qtly div 70 cts vs 70 cts prior pay june eight record may eight
diamond shamrock said it raised its posted prices for all grades of crude oil one dlr a barrel effective yesterday
argentina announced a wage and price freeze on wednesday night and is negotiating with new york bankers for about 215 billion dlrs in new loans and other financing
total liabilities fell to 1221 billion rand in march after rising to 1362 billion in february
beghin say increases capital to finance expansion
us exporters report 350000 tonnes corn sold to unknown destinations for 1986 87
former townsend thoresen navigating officer clive langley said the roro type of vessels were similar in some respects to a barge
he told reporters the country deserved a higher quota in compensation for the five months it was forced to suspend oil production when its main pipeline was destroyed by an earthquake last march
we are confident that the banks are going to be reasonable nogales said
the company said it will file a response to the suit with federal court in detroit by april 7
but analysts said the budget speech did not give any clear cut indication about the timing of the general election which has to be held before june 1988
this would limit the inflationary impact of intervention he said
seasonally adjusted expenditure on gdp at average 1979 80 prices rose to 3667 billion dlrs in the fourth quarter from 3626 billion in both the third quarter and the year earlier quarter
we shall have to wait and see
the semi official anatolian agency recently quoted turkish minister of industry and trade cahit aral as saying turkey will export 100000 tonnes of sugar this year and import the same amount
rubbermaid inc said its incoming order rates continue strong and it expects to continue recording favorable year to year comparisons in each remaining quarter of 1987
if it fails to make an agreement by that date it will default on the notes
sea containers scr expects better first qtr
silver futures were trading about 30 40 cts weaker in the nearby contracts amid quiet trading today
the manufacturing groups continued to post advances while goods production rose 16 pct the third increase in the last four months
the government will find it very difficult to achieve its new gross national product gnp forecast of three pct growth in the fiscal year ending march 31 economic planning agency officials said
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain around 118 billion stg while bankers balances below target will take out some 20 mln stg
while forecasting more adjustments if gulf prices fall burgess said no other changes in usdas price system are being planned right now
about the only bright spots in an otherwise dull banking sector of the secondary corporate market are us regional banks and japanese banks because investors perceive them as less exposed to the debtor nations analysts pointed out
honeywell said it accounted for his as a discontinued operation in 1986 and will account for its future interest on a cost basis recording any dividends as received
dart said the preferred stock in the new bid would be exchangeable for a new class of supermarkets general debt securities that would be developed by dart and supermarkets
last year the company earned 53 cts per share in the third quarter
the carrier said it will provide shorter door to door transit times more convenient cargo availability and better rail connections for traffic moving between puerto rico and north america
output fell sharply from a year ago as most aluminium firms stopped smelting in the past year due to cheap imports industry sources said
the basic complaint is that the levy does not take account of currency cross rates of exchange and therefore compounders in countries with strong currencies may have to pay more in their own currency than is paid to them by producers in another country
he said the cuts resulted from a government decision to let the temporary business and municipal tax reductions on exported tin lapse on june 3
short of achieving israels full growth potential however yaccobi said it would still be possible to achieve economic independence by 1993 or 1994 based on the assumption that exports can be doubled from 1986 levels in that time period
euroyen bonds showed a firmer tone led by some professional short covering from tokyo
south african year on year consumer price inflation in september fell to 155 pct from 163 pct in august central statistics office figures show
china unit to issue bonds in hong kong
taiwan cabinet approves increase in bond issues
qtly div 10 cts vs 10 cts prior pay april 30 record april 15
im quite confident he understands the problems and is prepared to do something about it herrington said
it said debentures will be purchased at 111830 dlrs per 1000 dlrs principal amount plus accrued interest
laser lser sees impact from suit on earnings
hunter helicopter builds two passenger helicopters that retail for about 50000 dlrs
the proposal which expires july 1 values stifel at about 54 mln dlrs
argentine grain board figures show crop registrations of grains oilseeds and their products to february 11 in thousands of tonnes showing those for future shipments month 1986 87 total and 1985 86 total to february 12 1986 in brackets bread wheat prev 16558 feb 8720 march 1646 total 26924 41610 maize mar 480 total 480 nil sorghum nil nil oilseed export registrations were sunflowerseed total 150 79 soybean may 200 total 200 nil the board also detailed export registrations for subproducts as follows subproducts wheat prev 399 feb 487 march 132 apr 100 total 1118 827 linseed prev 348 feb 329 mar 68 apr 63 total 808 874 soybean prev 1009 feb 451 mar nil apr nil may 200 total 1661 2185 sunflowerseed prev 486 feb 615 mar 251 apr 145 total 1498 1453 vegetable oil registrations were sunoil prev 374 feb 1073 mar 245 apr 32 may nil jun 100 total 1824 1176 linoil prev 159 feb 236 mar 204 apr 20 total 618 761 soybean oil prev 37 feb 211 mar nil apr 20 may 90 jun 130 jul 70 total 558 337
rbi said exporters of products not covered by either of the two groups will be eligible to use up to five pct of their freight on board value of their annual export earnings
the cbs television network reported on friday that iran had installed new missiles along the gulf and said washington had warned tehran not to use them against civilian shipping
the smelter near frankfurt had annual capacity of about 44000 tonnes but was operating at about half that in january spokesman fernand leclerc said
shr 26 cts vs 24 cts net 1144000 vs 1063000 sales 232 mln vs 248 mln year shr 93 cts vs 140 dlrs net 4046000 vs 6111000 sales 978 mln vs 1040 mln note prior year net includes gain 286000 dlrs from discontinued operations in year and loss 375000 in quarter and gain 260000 dlrs in year from disposal of discontinued
ge recorded net earnings for the first quarter 1987 of 624 mln dlrs or 137 dls per shr up 16 pct from 537 mln dlrs or 118 dlrs per share for the same quarter a year ago
in february jp industries said it purchased clevites engine parts division
other than livestock australias overall meat sales to the middle east rose to 72374 tonnes in 1986 from 52403 tonnes the previous year largely due to the sale of 25790 tonnes of mutton and lamb to iran
aristech ars to increase production capacity
he also said the bank could double its current lending volume from capital and triple its concessional loans to the poorest nations
shr profit one ct vs loss one ct net profit 150594 vs loss 55352 revs 190 mln vs 124 mln
the us trade representative said the federal reserve under chairman paul volcker has done its part to improve the trade situation by getting interest rates down
but he noted the official communique said the participants agreed to cooperate closely to foster stability of exchange rates around current levels
shr 45 cts vs 36 cts net 2554000 vs 1954000 revs 444 mln vs 325 mln nine mths shr 100 dlrs vs 75 cts net 5461000 vs 3756000 revs 1095 mln vs 899 mln
the warrants are publicly traded on the new york stock exchange
italys agip petroli buys stake in us company
the group which includes the edward a
the acquisition also involves about 800 mln tons of coal reserves mostly in west va and includes easterns coal reserves and inactive powderhorn operations near palisade colo peabody said
dudley taft and narragansett capital to pursue taft broadcasting bid
shr 33 cts vs 30 cts net 130 mln vs 119 mln sales 3308 mln vs 2497 mln
toshiba sharp restrain lap top pc exports to ec
central american economic ministers have estimated the region will lose 720 mln dlrs in foreign exchange earnings in 1987 if coffee prices are not rescued by a quota arrangement martinez said
a tender offer of asher edelman and dominion textile ltd dtxto for burlington idustries inc is not affected by the investors sale of options to buy burlington stock according to an associate of edelman
the important thing is that this rate of 7 8 pct is a marker for new negotiations and will save us 50 mln dlrs this year lusinchi said
the bundesbank entered the open market in the late morning to buy dollars against yen in concert with the bank of france dealers said
kenyas economy will continue to expand this year and the government will do more to encourage investment by foreign firms and the local private sector planning minister robert ouko said
a soviet ship will load 25000 tonnes at the pacific port of punta morales monday alfaro said and a second ship will take an additional 7107 tonnes two days later
den danskes us domestic commercial paper program is rated a1 by standard and poors and p 1 by moodys rating agency salomon said
most analysts said they were pleasantly surprised by ibms performance
icahn controlled trans world airlines inc twa made a conditional offer to acquire usair for 52 dlrs per share a bid that was rejected by the usair board
board officials said the new gauge could increase the capital required of the largest money center banks which are the principal participants in these types of activities
lawson told journalists he had been surprised by how much the psbr had undershot his original assumption of 71 billion stg for 1986 87 by some three billion stg
corn cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage feed 4500 4300 4095 4126 other 1180 1150 1160 1129 ttl domest 5680 5450 5255 5255 exports 1375 1250 1241 1241 total use 7055 6700 6496 6496 end stocks 5240 5595 4040 4040 farmer reser 1400 1300 564 564 ccc stocks 1700 1500 546 546 free stocks 2140 2795 2930 2930 avgprice 135 165 135 165 223 223 note price in dlrs per bu
mexico denied reports that british banks are resisting signing a 76 billion dlr new loan and rescheduling package
rha told in an interview the current trade mission is looking for 20 billion dlrs in purchases from us companies about a quarter of which represents transferred purchases from japanese sources rha said the items being sought by the current mission are mainly chemicals machinery and parts he said south korea is the fourth largest importer of us agricultural products
at 1986 year end brunswicks defense contract backlog stood at 425 mln dlrs
police said the owners of the firm mario muggia and his brother luigi muggia have left venezuela
budget rent a car corp bdgto 3rd qtr net
india buys 46000 tonnes of vegetable oils
complete details on the syndicate were not available
michigan general in march had said that the exchange offer would be conditioned on 90 pct acceptance and on its lender waiving or providing relief from loan agreement defaults
baker was scheduled to visit scandinavia and belgium this week and the department earlier refused to release details of his travel itinerary citing security considerations
some usda analysts said the payments reflected hesitation from the office of managament and budget to allow another huge release of certs onto the market
the 1985 86 crop is estimated at 8821 mln tonnes vs 8828 mln last month
in private they blame us industry for being uncompetitive
economists estimate up to five billion dlrs in speculative money flowed into taiwan in 1986
the bank of finland issued for the first time a small amount of its own certificates of deposit following its decision last friday to enter the interbank market by buying and selling cds a central bank official said
universal resources corp said its shareholders approved the merger of the company with questar corp str separately universal said it will redeem its 1575 pct debentures due december 15 1996 on april 19 at 1048 pct of face amount plus accrued interest
the contracting period for both commodities is march 20 through august 31 1987
peru to sell 40 state firms to cut budget deficit
pharmacia treasurer bertil tiusanen said gaining direct access to the short term international capital market would improve its ability to meet its dollar borrowing requirement
the department said the upward trend in non oil export volume continues and the underlying level of non oil import volume seems to have stablised
this restrictive policy also gave rise to smuggling and hampering of exports he said that to correct this situation 136 items had freed from import restrictions
eduardo de los angeles a government nominee in the smc board filed a formal complaint before the securities and exchange commission last week accusing soriano and eight other directors of violating fiduciary duty de los angeles was said to have opposed a decision by smcs board last december to assume the 500 mln peso neptunia loan
esso saf essfpa year ended dec 31 1986
however the meeting did not identify what those areas are carney said
ongpin said manila would have to repay about 200 mln dlrs a year when amortisations on the 925 mln dlr loan came up
year on year m 3 rose 1966 pct in january from 1780 pct revised from 1777 in december and 2010 pct in january 1986
theres no doubt that it can have an adverse effect on the economy and its important that the psychology turn around quickly or else obviously the panic will feed on itself and eventually therell be a serious price to pay economically former deputy treasury secretary richard darman said in a television interview
single family starts rose at a 56 pct annual pace to 1317 mln units
french unemployment rises to seasonally adjusted 265 mln in february official
orion capital corp oc 4th qtr loss
the official estimate is not yet available
healthsouth rehabilitation corp said it has acquired pine island sports medicine center in fort lauderdale fla and will incorporate the facility into its healthsouth rehabilitation center of fort lauderdale which is now under construction and should be in operation by mid summer
china is the main supplier with a 79 pct share while the us provides the rest it said
the rural banking and finance corporation of new zealand is issuing a zero coupon eurobond with a total redemption amount of 19 billion yen lead manager nomura international ltd said
kansas legislator predicts eep wheat to soviets
icc voted four to one last summer to reject the merger as inherently anticompetitive
but now japanese are going for blue chip organisations he said
the borrowers dont care which currency they use
the agriculture ministry estimates japans edible oil demand will rise 15 pct in calendar 1987 to 168 mln tonnes from 165 mln in 1986
an unnamed norwegian firm agreed to buy 100000 tonnes of alumina a year from a refinery in eastern orissa state due to start operations in the next 12 months a commerce ministry official told 
real estate magnate donald trump told ual inc chairman richard ferris that he was interested in ual stock as an investment according to a ual executive
ice creations is a molder of plastics
a minimum of 65 pct of the revolving credit will be immediately available with a facility fee of six basis points
mines power and steel minister bunu sheriff musa said in lagos that nigeria would have no difficulty keeping within its atpc quota of 1461 tonnes because its metals output had declined due to poor demand and high production costs
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
shr 48 cts vs 35 cts net 4946000 vs 3552000 sales 941 mln vs 845 mln avg shrs 102 mln vs 101 mln
the imf said that according to recent estimates the earthquakes will hurt the countrys balance of payments this year because of the loss of oil revenues due to destruction of part of the oil pipeline
treasurys baker says cooperation working
fees comprise 1 1 4 pct selling concession with 5 8 pct for management and underwriting combined
sec moves to discipline allegheny intl ag 
wang chao ming vice chairman of the council for economic planning and development told taiwan would further reduce import tariffs on 1700 products sometime in the second half of this year
recoverable oil reserves in aramco fields rose to 167 billion barrels by the end the year from 1665 billion in 1985 while gas reserves jumped by 77 pct to 1358 trillion cu ft from 1261 trillion the companys annual report said
this enables redland to accept the csr bid within six months of its close or to lift its stake to 501 pct in the same period and to run monier as a joint venture with csr
i think at the summit meeting in venice what we ought to be trying to do is to get the other major industrial nations that are involved to bring interest rates down say one pct bentsen told nbc televisions meet the press bentsen said coordinated rate cuts could take billions off the debt service of the latin countries and help ease protectionist pressures in the industrial countries
german call money drops back at month start
some said the makers were seen buying some 30 pct of their requirements estimated at about three mln tonnes for the three month shipment period
regency cruises which operates both ships received a five year extension to november 1995 to the regent seas original charter agreement it said
venezuela has obtained more than 300 mln dlrs in financing for industrial projects and increased its lines of credit for import financing finance minister manuel azpurua said
in the january to september 1987 period 1185 mln people were employed a rise of 44 pct on the same period last year
cut were the parents senior and guaranteed debt to aa 3 from aa 2 and subordinated debt to a 1 from aa 3 and the lead banks long term debt and deposits to aa 1 from aaa
the company said it has already been contacted by several potential buyers
i am against credits for consumption he forecast gross domestic product growth of two pct this year from one pct in 1986
the bank said that of last years 19 new government bond issues nearly two thirds were for maturities of less than 10 years
in january durable goods fell a revised 99 pct instead of the previously reported 75 pct
qlty div 25 cts vs 25 cts prior payable april 22 record april 10
the value of non residential projects rose 76 pct to 9276 mln dlrs in the month
shr 37 cts vs 41 cts net 1214000 vs 1316000 nine mths shr 106 dlrs net 3408000 vs 2809000 assets 2048 mln vs 1766 mln deposit 1540 mln vs 1312 mln loans 1253 mln vs 1007 mln note 1986 nine mths per share figures not available because bank converted to stock form in june of 1986
dart darta makes offer for supermarkets sgl 
bankers have estimated that brazil owes uk banks around 85 billion dlrs in long and medium term loans giving the uk the third largest exposure after the us and japan
wall street stocks us oil companies
ny sugar freights april 7 nil
while the combination would strengthen both airlines market position and enhance revenue generating capability usair group would require substantial debt to finance the 16 billion dlr acquisition s and p said
automobiles citroen expects rising sales of its new ax compact car to help boost profits significantly this year continuing a financial recovery after six straight years of losses president jacques calvet said
not only will these costs be unavailable for offset against the fields future profits but uplift of some 35 pct on these costs will be lost
the ico executive boards regular session this week has so far been confined to routine matters with no attempt by producers or consumers to revive export quota negotiations delegates said
the high equity content of the issue accounts for the low coupon
showboat inc said the new jersey casino control commission has directed its new altnatic city showboat casino hotel and bowling center to conduct a limited bet day today in accordance with commission regulations
union miniere takes stake in pancontinental
moller said he bought the stock as a long term investment and may buy more but has no plans to seek control of the company
italys eni to invest in venezuelan projects
santos said tmoc holds several important domestic oil and gas production exploration and pipeline interests
a military source in the gulf has said iran also set up a launching site for the silkworms on captured iraqi soil in the faw peninsula within range of kuwait
ecopetrol is exploiting cravo norte in association with occidental petroleum corp oxy and shell petroleum nv a unit of the royal dutch shell group rd st ecopetrol said in a communique that bombings since last july led to a loss of more than 110000 barrels of crude or the equivalent of 10 mln dlrs
the discount rate has been the markets penalty rate rather than a guiding rate since 1985 and its advances are currently little used as liquidity is ample bank economists said
all are to be completed during the second quarter of 1987 it said
one minister was dropped in the shuffle announced in a presidential decree
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
peru has about 140 non financial state firms
cash flow improved substantially to 323 mln francs from 111 mln and represented 57 pct of turnover against a mere 14 pct in 1985
a majority of european community ec member states are either against or have strong reservations over a tax on both imported and domestically produced oils and fats proposed by the european commission senior diplomats said
the notes have an annual interest coupon instead of paying interest semi annually merrill said
production in 1987 will probably hold around 1986 levels guerard said
bank of japan sources said the bank has no plans to cut its discount rate
the us treasury repeated a white house statement that only president reagan and treasury secretary james baker are authorized to speak on the dollar
perception said it has outstanding lease receivables from tc of about 2480000 dlrs
british and commonwealth shipping said last week it held preliminary talks about a klm minority stake in air uk but gave no further details
in 1985 a total of 71539 wells were drilled 36834 oil wells 13036 gas wells and 21669 dry holes
next few months crucial for oil hernandez
sumita said in a statement that world stockmarkets were excessively concerned about the economic future
he said it was too early to revise official forecasts for west germanys economic growth this year
leigh pemberton noted there had been excesses in takeover activity in the recent past
this takes the banks total help today to some 112 billion stg and compares with its estimated deficit of around 110 billion
trade ministry officials said south koreas exports rose 35 pct to 934 billion dlrs in the first three months of this year while imports rose only 85 pct to 82 billion dlrs
it cuts directly to us and to our customers said bob wendt manager for economic studies at bethlehem steel corp
wall street stocks marion labs mkc 
fees comprise 1 1 4 pct selling concession and 3 8 pct each for management and underwriting
speaking to a senate agriculture appropriations committee hearing amstutz said i think we can reach agreement in calendar 1988 amstutz said the us places a high priority on the uruguay round of global trade talks
economic spotlight japan buying overseas firms
this reflected the decline in oil prices last year and difficulties in marketing uae oil the central bank added
the official noted the agreement signed in january provided for the supply of about 55000 tonnes of vegetable oil 55000 tonnes of corn and 126000 tonnes of wheat all for delivery during the current fiscal year ending this september 30
japan has assured a meeting of trade ministers it is making every effort to expand domestic demand and restructure its economy
the contractual ratio is 30 pct heavy crude to 70 pct light
contracts for saudi crude have been signed but it is understood they have much leeway in required liftings
lyng to meet with exporters eep likely topic
may same section 140 pct bid offered five lower at 145
japanese british and us securities houses have been expanding inventories of gilts to meet demand from investors seeking capital gains including city and trust banks which have been active on the us treasury market they said
i believe we have bottomed out and can look forward to a trend of gradually increasing prices cw nance president of tenneco oil exploration and production told a meeting of the petroleum equipment suppliers association
the philippines as a trading country in the world economy depends on the continued health and growth of both the world economy and the world trading system she said
world bank loans hungary 70 mln dlrs
amid the swirl of new ideas even the role of the commercial bank advisory committees has come under scrutiny
no other details were available
the year on year increase for february was 79 pct compared with 57 pct in january and 22 pct in february 1986 it added
csr said the generous offer price reflects the cost savings which will flow from integrated management of csrs and pioneers raw sugar mills and building materials businesses
the deadline for the new pacts start is january 1989 and hofmeister has been mandated to continue selling rubber during the interim period
pier 1 imports pir declares stock split
the bank of finland had never before been allowed to issue its own cds they said
some analysts said american express may consider spinning off part of shearson because it is concerned that its stock price does not fully reflect the value of the brokerage firm
was planning to take becor for about 2381 mln dlrs
breslube based in toronto collects used lubricating oils from auto garages car dealers and other businesses and re refines it for resale
however it could not issue sterling commercial paper because bank of england rules prohibit an issuer of certificates of deposit to issue paper denominated in stg
champion will use the proceeds to pay down long term debt it said
higher oil prices and stronger than expected us employment growth led to sharp losses in us interest rate futures and diminished what had been a positive chart outlook financial analysts said
given likely fed policy firming he said both the yield on 30 year treasury bonds about 830 pct now and the prime rate may be at 8 1 2 pct at end june and nine pct by years end
agricultural trade issues between japan and the us include japanese import restrictions on 12 farm products
council president tom miller said he was disappointed by the court ruling and said the council will accelerate activities in support of an amendment to the 1930 tariff act that would address the objections outlined in the trade commissions ruling
said it had been given options by a number of sharp shareholders covering 67 pct of the common stock pending completion of a review of the company
the industrial action at the nsw ports is part of the week of action called by the nsw trades and labour council to protest changes to the states workers compensation laws
div 50 won vs 50 won net profit 691 billion won vs 610 billion sales 42754 billion vs 38017 billion note company has set 1987 sales target of 4800 billion won
the obvious question is whether these numbers indicate that the consumer activity is slowing but it does not appear to be because liquidity and employment are rising said analyst jeff edelman analyst of drexel lambert and burnham
at the end of february lilly had 1396 mln shares outstanding
part of the blame goes on other countries which have not generated the economic growth to increase demand for us goods and part to some us companies which are not generating competitive exports he said
arguing that oil is a political tool in every nation on earth frank pitts chairman of pitts oil co today called for a variable oil import fee among other measures before the treacherous foothold of the middle east is irreversible and our national security is compromised royce wisenbaker chairman of wisenbaker production co agreed saying that like many federal government programs that were set up with good intentions it would probably turn into a shambles wisenbaker added that he was optimistic for the future
essilor international essipa year ended dec 31
the bond is available in denominations of 5000 dlrs and will be listed in luxembourg
the bundesbank came into the market when the dollar was around 14810 yen just after it had fallen below 148 to touch 14780 at 1027 gmt
the companies also said the securities and exchange commission declared effective as of march 24 the registration statement covering the securities chemical will issue to texas bancshares shareholders as part of the merger
petromin has offered to lower this rate to 90 pct from the 95 pct for contracts with japanese customers from next january the trade sources said
in its statement the financial services giant said it is continuing to study various plans for shearson in addition to the investment by nippon
it also said the current account surplus of the swiss balance of payments reached a provisional 135 billion francs last year from 128 billion in 1985
yesterday 645000 bags were registered
harcourt in response to a hostile two billion dlr takeover proposal from maxwell planned a recapitalization that would pay shareholders 40 dlrs per share
and while traditionally the japanese have not been big buyers of the shorter dated issues on offer at this weeks us auctions such reports undermine market confidence
petroleum equipment tools co ptco 4th qtr
we are not pushing this place into a recession
between 1981 and 1983 a team of canadian veterinarians funded by the united states canada mexico and costa rica supervised the slaughter of all haitis 1200000 pigs under a program to eradicate african swine flu
danforth said he continues to see value in a merger between westinghouses radio operation and those of nbc
raytheon co rtn 1st qtr net
the new accounts show 1985 with shareholders equity of 115 billion francs instead of 175 billion and similar alternations were made for previous years
company corrects period in march 19 item
franklin resources inc said it believes earnings could double this year as compared to a year ago when the company reported income of 32 mln dlrs on 143 mln dlrs in revenues
talks show new canadian confidence group says
year net includes lifo inventory charges six cts shr vs two cts shr
on a non seasonally adjusted value basis retail sales in february were a provisional 90 pct higher than a year earlier
anheuser busch joins bid for san miguel
agrimont spa the holding company for montedisons agro industrial businesses had sales of 810 billion lire and a net profit of about 11 billion lire after amortization costs of 35 billion lire and a 13 billion lire reduction in the value of inventory due to falling market prices montedison said
platinum was fixed this morning at 58350 dlrs an ounce up from fridays close of 57850 58050 and also the highest setting since october
in march galaxy completed a public offering of 22 mln units for 43 mln dlrs and acquired the assets of 132 cable television systems for about 34 mln dlrs
allwaste inc said it entered into an agreement in principle to acquire all the outstanding common of a related air moving and industrial services company
raymond was quoted as saying in a published interview that exxon was reviewing its worldwide refinery operations and might decide to close one of its french refineries
it would not be the kind of issue that the president or the chairman would get into specific negotiations or discussions about lyng said
sosnoff said southmark corp and affiliate pratt hotels corp have ended talks with his mts acquisition corp on a possible joint venture for the acquisition of caesars world inc
responses are due by april 3 and the financing is being syndicated among a broad based group of international banks to diversify the borrowers traditional lending base
under the mergers terms strata shareholders will receive 57 cts per share of strata common and warrants to buy about 06 shares of lomak common at 375 cts per share on or before december 31 1990 for each strata common share
two years ago before selling its ormet corp subsidiary in the united states to local management and staff alusuisse had an annual capacity of 800000 tonnes
decision industries corp said it expects to report an operating loss of 19 24 cts a share for the first quarter ending march 31 mainly due to lower profit margins and higher sales and marketing costs
nazer in an interview with and the television news agency visnews said saudi arabia was producing around three mln barrels per day bpd of crude oil well below its opec quota
bank of france again buying dollars sources say
most bank managements appear committed to improving the quality of their balance sheets s and p said noting many now emphasize long term strategies over short term earnings
it said under the agreement it will pay the state 2100000 dlrs in civil penalties over a two year period and pay 500000 dlrs over five years to local medical facilities as part of a community awareness and emergency response program developed by local communities
it said tmoc is already a partner with agl in the alice springs to darwin gas pipeline and has a number of businesses complementary with those of agl
tesco plc tscol said county bank ltd had bought 165000 shares in hillards plc on its behalf increasing its stake to 54 pct
world bank president barber conable expressed concern that trade protectionism at the heart of a new showdown between the united states and japan might spread throughout the industrial world
he expected margins to continue generally positive over the summer although they could dip to become negative from time to time depending on price movements
the radio said halefoglu had briefed the leaders of a number of the countrys political parties on the latest developments
moderate to deep snow cover the northern half of the ukraine northern north caucasus and the lower volga about one month later than usual it said
while the industry may not be able to compete in all domestic markets that it enjoyed twenty years ago the results of our research indicate that portions of the domestic market can be recovered and that exports can be expanded kelly said
hughes tool says it approves revised terms for merger with baker international
the rules could affect billions of dollars of eurobond securities issued each year
money market analysts cited the debt renegotiation as the main impetus behind increases today in both the commercial and financial rand
brazil will not announce any changes to its coffee export policy brazilian coffee institute ibc president jorio dauster said
at the same time payments over the next three years were lowered from 3450 to 1350 billion dlrs
the republican congressmen also said they will offer an amendment to the trade bill instructing the us agriculture department to value the bonus commodities used for eep at the market value rather than the cost of acquisition
german february trade surplus 104 billion marks jan surplus 72 billion official
consumer energy costs rose 19 pct in february following a sharp rise last month the labor department said
the spokesman declined to give details of what was included in the statement but said central bank president francisco gros was seeking a 60 day extension of the short term credit lines from its commercial bank creditors
moodys downgrades michigan general mgl debt
national convenience said its third quarter is usually weak due to winter weather
we will entertain any approaches he told in reply to questions following uk press speculation
but economists said the proposals are unlikely to involve more than tinkering with technical details
eurodollar deposit rates in london fell by as much as 9 16 percentage point treasury bill rates fell by as much as half a point after falling between 59 and 84 basis points on monday and the fed funds rate dropped to 7 1 4 pct from mondays average of 761 pct
a bill also was introduced by rep
the issue was increased from an initial offering of 100 mln dlrs
the company must open 10 stores within the next two years to maintain exclusive license rights in the territory it said
security pacific now has four major regional bank purchases outside california completed or pending
asarco ups us lead price 050 ct to 2650 cts
cotton president of finalco group inc a paradise valley ariz data processing equipment maker said he bought the stake which includes warrants to buy 186300 shares for 266958 dlrs
the potential purchase of the interest in champlin followed its earlier acquisition of a part interest in southland corps slc citgo petroleum corp subsidiary
the limit on foreign assets as a proportion of japanese insurers assets was increased to 25 pct from 10 pct last year
poehl is in a minority in his own house said commerzbanks pfister
but consuming countries and the dissident producer group have tabled separate proposals requiring quotas be determined by availability using a formula incorporating exportable production and stocks statistics
but at the same time they said fertilisers would rise by an average 50 pct animal feeds by 38 pct and tractors by 25 pct
philadelphia suburban corp said it acquired mentor systems inc a lexington ky computer software company for common stock
he said the criticisms were in a report by an imf commission which visited yugoslavia last december and january
he said it wasnt until the bonds were cleared through euro clear a major clearing house for the eurobond market that it was discovered they were forgeries
he also noted that despite increasing liberalisation in the telecommunications field some countries continue to protect their state monopolies at the expense of other economic sectors
republic american corp said it began an offer to exchange a new issue of 9 1 2 pct subordinated debentures due 2002 for a portion of its common stock
the finnish metal and mining group outokumpu oy said it will close its nickel refinery at harjavalta in central finland for six weeks in july and august this year due to current low prices on the nickel market
the uk remained rowntrees largest centre for trading profits accounting for 479 mln stg up from 453 mln in 1985
1986 and 1985 net include loss of 3512000 dlrs and 5944000 dlrs respectively for equity in welltech and predecessor operations
the company said it acted inview of the proposed acquisition and because certain debt restrictions could block its ability to redeem the rights
agip canada also holds 176000 net exploratory acres in western canada
taiwan issues more certificates of deposit
cook now operates a total of 29 stores
in the fourth quarter of 1986 morgan posted other trading losses of 55 mln dlrs because of setbacks in the trading and underwriting of euromarket securities
du pont dd unit to redeem notes
at the retail level us striploin sells for 977 dlrs per pound while japanese beef sells for 2851 dlrs per lb
brown and sons inc and lf rothschild unterberg towbin inc
japanese demand for uk gilts seen rising
industry analysts said the future of amcs car assembly plant in kenosha wis and its toledo ohio jeep plant would be in doubt if the overcapacity predicted in the north american auto industry by the early 1990s comes to pass
the companies include radio stations wkxc am and wwkz fm which operate in the new albany tupelo miss market and general masonry inc a contractor in the southeast
it said europharmaceutical currently does not have the resources to make the payments under the distribution agreement or fund the studies necessary to obtain marketing approval from the fda
a total of 11500 billion lire of 12 month paper will be offered at a base price of 9115 pct for an effective annualized net yield of 902 pct
they said the financial rand in particular was being driven by a tentative provision in the new debt agreement that could favorably affect the currency
bangladesh floated an international tender for the purchase of 10000 tonnes of refined soyabean oil for delivery at chittagong chalna port by april 24 food ministry officials said
enserch ens to redeem debentures
construction has also staqrted this week on a 43 mile 16 inch diameter gathering line to deliver 75000 to 100000 barrels a day of oil from the san joaquin valley in california
the seven year notes were priced at 99473 with an eight pct coupon to yield 810 pct or 71 points over treasuries
production in 1986 when indonesia was forced to import sugar is officially estimated at 2016 mln tonnes against 1728 mln in 1985
there is a 1 4 pct praecipuum
proceeds will be used to expand the companys business through capital expenditures and acquisitions and for general corporate purposes atari said
extraordinary items amounted to a 113 mln debit after a 165 mln debit previously
japans overall wholesale price index base 1980 fell 01 pct in february from a month earlier to 864 for the second consecutive month on month fall the bank of japan said
noranda mine seen below full output for months
corrected banco di roma unit arranges
krieger said the networks wage proposals were disappointing but not the main issue
faced with a belligerent domestic chip industry and an angry american congress the japanese government has been forced to walk an increasingly fine line in the semiconductor dispute trade analysts said
she gave no dates or prices for the transaction but said the units would be sold by negotiation
general partners willing to pay 110 dlrs share for gencorp
the surplus is due largely to government tax allocations to local governments and public entities at the end of fiscal 1986 87 tomorrow
fernandez said the old type of new money agreement where hundreds of banks were forced into involuntary lending by an advisory committee that negotiated agreements with debtor countries was becoming increasingly difficult
the swap will be on the basis of two 2000 franc nominal 1980 bonds for one 5000 franc nominal bond of the 1987 issue
citicorp cci seeks cyclops cyl steel unit
the 6 7 8 pct series preferred stock is redeemable at any time at the option of the company at 10688 pct per share on or before march 31 1992 and declining to 100 pct on and after april 1 1994 the company said
stewart stewo sells plant to sara lee sle 
at the public offering price of 3050 dlrs a share occidental said the total value of the offering was nearly 116 billion dlrs making it the largest underwritten common equity offering by a us natural resource company
fiat finance and trade ltd is issuing a 100 mln dlr eurobond due april 2 1991 at 7 1 4 pct and 101 1 8 pct lead manager morgan stanley international said
nows a good time said joe levy of international data corp
1
shr 119 dlrs vs 138 dlrs net 1499234 vs 1713941 revs 232 mln vs 103 mln
the central bank purchased bank bills outright at the lower dealing rates established this morning comprising one mln stg in band one at 9 7 8 pct and 14 mln stg in band two at 9 13 16 pct
neco has 957000 shares outstanding
bauer said siemens and french telecommunications firm jeumont schneider sa submitted a joint offer at the start of march because of the 20 pct limitation
with the sale csr will be able to expand those businesses more aggressively and earlier he said
malaysias central bank bank negara said the economic outlook for 1987 is good in view of a marked improvement in commodity and oil prices in the later months of last year
it said it is currently holding talks with its creditors about a possible debt restructuring
with futures down processors are finding they must bid premiums for cash soybeans further reducing crush margins
this would have been the case in may 1984 when soya oil prices cif rotterdam stood at 914 dlrs a tonne they noted
although sympathetic to ecuadors plight many banks in the paribas facility feel that emergency financial relief is a job for international financial organizations and not for commercial banks bankers said
rowley scher reprographics inc said it expects to report an operating loss and a loss from the sale of its mid south repro subsidiary for the year ending march 31
jorge cardenas manager of the national federation and head of his nations delegation in london has blamed the intransigence of some big countries without naming them
the study should be completed in nine months and will determine any clean up or remedial action that may be required
specifically they said the feds dollar buying intervention has been half hearted designed more as a political gesture to japan than to strike fear into the markets
one of the top executives of the international monetary fund imf has tendered his resignation charging that the united states has been pressuring the agency to reduce the conditions it places on some loans monetary sources said
the area sown to soybeans this season was a record 37 mln to 38 mln hectares 108 to 138 pct up on the record 334 mln sown in 1985 86
a sharp deterioration in brazils foreign trade surplus caused president sarney to announce last month the suspension of interest rate payments on 68 billion dollars of commercial debt
corrected elder beerman stores corp eldr 4th qtr
however it does include one moderation of an option contained in that pact which introduces yet another catchphrase into the jargon for reschedulings
jucker said he knew shareholders would find this radical elimination of the mortgages of the past painful but said the foundation had been laid for a successful new company strategy
ford motor credit co a unit of ford motor co is raising 250 mln dlrs via an offering of notes due 1990 yielding 695 pct said lead underwriter goldman sachs
west german industrial production seasonally adjusted rose a provisional 32 pct in february after a downwards revised decline of 34 pct in january the economics ministry said
offshore data services said some drilling contractors had reported recent increases of about 1000 dlrs a day on large jackup rigs which now command rates of 11000 to 12000 dlrs a day
group reconsiders computer memories cmin bid
a brief iranian news agency irna report said important victories achieved in southern fronts monday night it gave no further details
its natural for investors to want the highest yield for the lowest price
venezuela approves plans to issue new bonds
australian offer for san miguel shares
qtrly div 34 cts vs 34 cts pay may 15 record april 24
the plant is designed to produce 5000 tonnes in the first five years and 8000 tonnes as from year six
he said they were optimistic this could mean the continuation in the near future of liberalisation policies introduced over the last year
despite his bearishness merrills bradford continues to recommend armco which he sees as a major turnaround
continental health cthl purchases marketech
tropical forest death could spark new debt crisis
the bank of korea today quoted the won unchanged at 81205 against the dollar a 602 pct gain so far this year compared with a 334 pct increase for the whole of 1986
mayfair industries inc mayf 4th qtr net
1986 amounts restated to exclude sales and expenses of discontinued operations
hoogovens expects clear loss in 1987
canadas gross domestic product rose 01 pct seasonally adjusted in january after gaining 10 pct in december but falling 01 pct and 03 pct in november and october statistics canada said
qtr ended jan 31 shr profit nine cts vs loss 30 cts net profit 317000 vs loss 997000 sales 6338000 vs 3119000 note 1986 net includes extraordinary gain of 90000 dlrs or two cts per shr
bill emerson r mo
the market should include a comprehensive range of futures and options trading so tokyo can develop into a real global money centre where a variety of risk hedging instruments is available the proposal said
gulf arab states must coordinate economic policies more closely before moving towards their goal of a unified currency system the president of the arab bankers association said
it was greeted with relief after 18 months of negotiations
the iranian platform an unsightly mass of steel and concrete was a three tier structure rising 200 feet 60 metres above the warm waters of the gulf until four us destroyers pumped some 1000 shells into it
reagans remarks help gold to recover in hong kong
first colonial bankshares corp fcola 1st qtr
the sale is part of a restructuring program begun by commercial credits subsidiary in late 1986 the company said
terms of peschs offer have not been disclosed
j terence murray chairman and president of fleet financial said fleets mortgage banking activities in particular continued to produce signficant income increases in the first quarter murray said fleets mortgage servicing portfolio reached 221 billion dlrs by march 31 including 18 billion dlrs purchased in march
the share was 35 to 40 pct of about 3695 billion rupees mobilised in 1985 86 he said
a severe drought and marketing problems cut exports last year to under 10 mln bags
life of indiana corp lifi 4th qtr loss
no near term brazil coffee moves expected
dividend on ordinary shares 45 francs vs 42 francs
four cargoes should reach port bin qasim or karachi port buyers option by may 31 and the balance by june 30 1987 it added
the company said it will begin paying a regular quarterly dividend in the second quarter but the board has not yet determined the exact amount
shr 22 cts vs 14 cts net 917000 vs 553000 sales 161 mln vs 136 mln avg shrs 4195000 vs 4090000 nine mths shr 70 cts vs 29 cts net 2852000 vs 1086000 sales 492 mln vs 407 mln note prior nine mths net includes gain 250000 dlrs from insurance payment
qtly div 55 cts vs 55 cts prior pay june 15 record june 1
the yield on 91 day bankers security deposit accounts issued this week by the saudi arabian monetary agency sama fell to 618376 pct from 634322 a week ago bankers said
interest payable 123 mln vs 146 mln
treasury balances at the federal reserve fell on march 10 to 2842 billion dlrs from 3073 billion dlrs the previous business day the treasury said in its latest budget statement
shr two cts vs one cts net 116843 vs 41400 revs 173 mln vs 123 mln nine months shr 15 cts vs 10 cts net 639448 vs 301000 revs 376 mln vs 358 mln
the united states does not expect the executive board meeting of the international coffee organization ico to call for a new round of negotiations on reinstating coffee quotas a us government official said
grey marketeers may also be able to outfox any new restrictions some industry officials said
the company said it plans to complete the transaction which requires shareholder approval by the end of march
yesterday citicorp cci with audio video affiliates inc ava an owner of cyacq said it had offered to acquire from dixons after the merger of cyclops into dixons cyclops industrial businesses for 128 mln dlrs more than alleghany corp y is currently scheduled to pay for them
the official refused to comment however on whether the agreement included a secret pact to consider further coordinated interest rate cuts a measure industrial nations have taken jointly several times in the past year
the dollar had closed here at 15377 yen on february 20
the striking price was a partly paid 41 stg pct at which price bids were allotted 538 pct
the minimum acceptance periods for each solicitation is three calendar days for the copper and 10 calendar days for the nickel the mint said
tracomin sees lower us edible groundnut exports
citroen part of the private peugeot sa peuppa group increased its share of the french new car market to 137 pct in first two months 1987 from 121 pct a year earlier
hertz corp a unit of ual inc filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of senior debt securities on terms to be set at the time of sale
in the quarter ended march 8 the group had a modest sales increase and major improvement in operating performance compared to the year ago quarter the company said
the main complaint from some sections of the physical market is what they say is an unrealistic futures premium over the pmbs average ex farm price
they want to deal in securities they want to go into investment banking they want to go into the turnover business rather than the carry business fernandez said
the deal is expected to close march 31 the day trading ceases in the liquidating trust shares
the units make and distribute various products including lawn mowers small appliances and sheep shearing equipment
but if the pipeline is down more than 10 days it will be difficult to make up without prorationing and we would not like to proration this pipeline if we dont have to the basin pipeline is jointly owned by atlantic richfield corp arc shell oil co a subsidiary of the royal dutch shell group rd and texaco inc tx which is the pipelines operator
walt disney issues 60 mln aus dlr eurobond
american security asec buyout completed
we are not legally authorized to do that he said
in 1986 sun state reported earnings of 9427000 dlrs or 205 dlrs per share
it said holders converting will not receive the 125 dlr per share dividend on the preference shares payable may one to holders of record on that date
this inflow helped boost foreign exchange reserves to more than 51 billion dlrs from just under 25 billion this time last year and provided further upward pressure on the currency
total area planted with sorghum stood at between 12 and 13 mln hectares or 103 to 152 pct lower than the 14 mln hectares planted in the previous harvest
crd made a net profit before stock depreciation and currency factors of 195 billion francs last year after a 116 billion loss in 1985
it did not refer to debts maturing to foreign governments and multilateral lending agencies accounting for the remainder of ecuadors foreign debt the official said
amcast said it decided to sell the division to move out of the gray iron castings business
shr 87 cts vs 77 cts fin div 90 cts vs 90 cts group net 235 mln dlrs vs 208 mln turnover 2127 mln dlrs vs 5954 mln note fin div pay may 27 record may 23
other economists said the fed would probably pay little attention to weak money supply growth
marcano said no mandate has yet been given for a planned 100 mln dlr bond issue although he confirmed that talks were continuing with morgan guaranty and other banks
technically as long as that block was overhanging the market you didnt know what was going to happen he said
service corp international srv sets quarterly
both countries are the only latin american members of the organisation of petroleum exporting countries opec ecuador was exporting about 140000 bpd before the earthquake energy ministry officials said
werner chrobok managing partner at bethmann bank said he hoped the two men would soon be of one opinion again
cpc international inc said it has agreed in principle to sell its peterson puritain inc subsidiary to hi port industries inc
experts had expressed fears over ro ro safety
moodys also cited texas airs secondary position to the cash flow and assets of its subsidiaries relative to its subsidiaries creditors and the insufficiency of the holding companys cash flow to meet fixed charges
each warrant priced at 4750 dlrs gives the holder the right to purchase a nominal sum of 500 dlrs for either 18250 marks or 14950 yen between march 31 1987 and march 31 1989
it had said that if the offer and talks with its lender did not succeed it would probably have to file for bankruptcy law protection
dollar drop seen as test of paris agreement
american electric aep unit redeeming bonds
the advisory body said in its report that the yen would soar against the dollar if structural adjustments on a global basis were delayed
also left unchanged were standard chartered banks ratings for short term deposits
it said holders of record april 15 will receive one additional share may one for each two shares held
san juan basin sjt proven reserves fall
a reagan administration official said this would show there had been some change in approach on the part of the central bank in germany
under nibs 200 mln dlr program 100 mln has been sold in the us and 25 mln in europe
shr not given net loss 330613 vs profit revs 2170628 vs 614511 year shr loss one ct vs profit nine cts net loss 212289 vs profit 829747 revs 5397167 vs 3785688
due to a general recession in the world economy the demand for development funds was low and there was a scarcity of processable projects in most member countries during 1406 september 1985 86 the report said
he was talking to reporters yesterday on the eve of a two day meeting of trade ministers which will review progress made by committees set up after the uruguay meeting last september launched a new round of gatt general agreement on tariffs and trade talks
1986 year excludes extraordinary gain of two cts a share
dynamics said the cts board will be reduced to seven members for eight with the remaining four members of the current board and three representatives of dynamics as new directors
soviet economist says production figures padded
sroka said stagnating consumption and slight overproduction will continue to weigh on coffee prices and he forecast a continued build up in stocks
institute of international finance managing director horst schulmann said that his orgnaization has been forecasting further declines of interest rates in the first half this year and then a levelling off and there is no reason to change that
however he acknowledged signs were still lacking on such a decline
he noted that the number of motion picture admissions in the us has shown no growth in 15 years
taiwan plans another round of deep tariff cuts this year to help narrow its trade surplus with the us a senior economic planner said
lyng disappointed by canada corn injury decision
hercules inc has been awarded a 1315 mln dlr contract for stage three follow on production work on the mx missile program the air force said
shr loss 31 cts vs loss eight cts net loss 1780000 vs loss 449000 revs 139 mln vs 178 mln note current 1st qtr loss included a gain of 870000 dlrs and 70000 dlrs from the sale of restaurant leases
industrial equity pacific ltd told the securities and exchange commission it has acquired 72600 shares of mcgill manufacturing co inc or 51 pct of the total outstanding common stock
s p downgrades bethlehem steel corps one billion dlrs of debt
usair u cuts piedmont pie shares sought
he said all types of textiles textile machinery and associated goods such as sewing thread buttons and collar supports would be placed on the duty free list effective from april 1
shr profit 26 cts vs profit 19 cts net profit 1458000 dlrs vs profit 1070000 dlrs rev 309 mln dlrs vs 275 mln dlrs 12 mths shr profit 60 cts vs loss 19 cts net profit 3367000 dlrs vs loss 1061000 dlrs revs 1115 mln dlrs vs 943 mln dlrs
officers on shearsons syndicate desk declined to comment
we will certainly not export seven mln 60 kilo bags but neither are we going to sell like mad
because brazilian soybean prices are now some 10 cents a bushel cheaper than us origin due to the bumper harvest it is highly likely that japanese crushers will increase their buying volume one source said
the total includes 35 billion francs worth of 13 week bills and 35 billion francs of 26 week bills
at the same time there are countries favoured by the current system that have been assigned quotas far above their export potential he said
direct cash contributions from members will fund buffer stock purchases
the bank of england said it forecast a shortage of around 450 mln stg in the money market today
usair closed up 5 3 8 at 49 1 8 on volume of 19 mln shares
shr loss three cts vs profit eight cts net loss 35000 vs profit 128000 revs 1133000 vs 1528000 year shr profit four cts vs profit 21 cts net profit 72000 vs profit 339000 revs 4837000 vs 4500000 note 1985 net income included an after tax gain of 195000 or 12 cts per share on sale of real property
terms were not released
primary dealers in uk government gilts will not be required to underwrite the governments offering of its securities when the first auctions begin in mid may the bank of england said
allied signal inc ald 3rd qtr oper net
japan buys 5000 tonnes canadian rapeseed
earlier today trans world airlines inc offered to either buy piedmont suitor us air or alternatively to merge with piedmont and us air
conrac which said its board discussed the alternatives at special meetings on march 26 and 30 said that its decision on whether to adopt any of the alternatives would hinge on the future actions of mark iv and its unsolicitied tender offer
after the companys annual meeting rober mercer goodyears chairman and chief executive officer also said goodyear expects to report a profit of more than one dlr a share from continuing operations in the first quarter
hofer described lyng as sympathetic but noncommittal and said he thought he detected a sense of frustration on lyngs part at not being able to respond more positively to the groups urging
spain qualifies reserve requirements statement
the leucadia subsidiaries had held an 110 pct stake in minstar but cut to 18 pct or 313200 shares last july
brazils debt would increase in dollar terms but remain constant in real terms
diamond shamrock dia to redeem debentures
the acquisition of the us life company jackson national had a small effect in 1986 but its full effect would be felt in the 1987 results corby said
the company cited intensely competitive market conditions in its polyethelyne trash liner business and startup costs related to its acquisition of artisan plastic for the reduced earnings outlook
intermagnetics general inma completes buy
sumita told reporters major nations have cooperated to bring about currency stability in line with the paris agreement which stipulated that they would closely cooperate to that end
williams wmb sees flat pipeline volumes in 1987
gencorp has agreed to sell two of its independent stations wor in the new york area and khj in los angeles
ny traders say ec sold 71000 tonnes of white sugar at tender
finance ministers from the 13 member caribbean community caricom approved a draft agreement for a new export credit facility in an effort to stem the steady decline in interregional trade
atlantis agh may bid for charter crellin crtro 
asked what opecs output level was now he replied below 158 mln barrels per day he did not elaborate
triumph capital inc said it has signed a letter of intent to acquire first securities transfer systems inc of pompano beach fla for undisclosed terms
story is an analyst with and a director of sydney stockbroker meares and philips ltd
they have an aggressive buying campaign from the european community from canada from the us theyre active buyers from all sources at this point the official said in explaining why the department raised its soviet grain imports estimate today by three mln tonnes to 26 mln tonnes
nimocks said peschs revised offer is not worth much more than the 20 dlrs cash offered previously
year ago data reflect a two for one common stock split
i think ronald perelman is less interested in gillette and more interested in putting gillette into play because he stands to make a ton of money said andrew shore analyst at shearson lehman brothers inc
if the spot price of dubai goes above 1730 dlrs we would probably buy iranian crude at the official price one japanese refiner said
the newspaper quoted nfa marketing director jig tan as saying monthly corn consumption stood at about 331000 tonnes against a national stock inventory of 191732 tonnes
the interest surplus which fell to 8979 mln marks from 9811 mln was also depressed by the 01 point fall in the interest margin to 19 pct
the governors agreed in january on a denominator on which to base currencies of the six states
canada bank rate rises to 859 pct
i dont think its going to undermine public confidence in the banking system from brazil alone he said
the cornerstone of the trade legislation passed the house ways and means committee by a vote of 34 to 2
csar csar in term loan agreement
cheyenne software chey in acquisition talks
there was no rainfall in the same period in la pampa
chronar corp crnro year loss
iea estimates on april 1 put oil stocks in the oecd area at 428 mln tonnes representing 98 days of forward consumption
the company which was also merged into a subsidiary said its 357 mln outstanding shares will be exchanged for shares in the new company on a one for one basis
conable said additional commercial bank investment would also be to japans advantage
general housewares corp ghw 1st qtr net
beet sugar production expressed as white equivalent was estimated at 344 mln tonnes in france 317 mln tonnes in west germany 172 mln in italy 130 mln in britain 122 mln in the netherlands 936000 tonnes in belgium luxembourg 499000 in denmark 287000 in greece 183000 in ireland and 4000 in portugal
it said other reductions include the use of professional services administrative costs manufacturing overhead and non essential development services adding these cuts are expected to have a significant impact beginning in the second quarter
general acquisition co said it was disappointed by gencorps response to its tender offer and asked how the company might give better value to shareholders
hughes supply inc hug 1st qtr april 30 net
american variety international inc nine mths
fildes said that was attractive to cetus because it wanted a partner that didnt have a relationship with a large number of other biotechnology companies fildes said his strategy was to have partners in non drug areas like diagnostics and agriculture but to keep the biggest developments in anticancer drugs to ourselves fildes said the partnership with squibb would be used to broaden the companys reach in such big money making areas as the cardiovascular anti infective and the anti inflammatory markets
other broad predictions of the survey relating mainly to the april june quarter follow the dollar is likely to decline five to 10 pct further against other major currencies because of a large us budget deficit and a wide but narrowing trade gap
in caracas president jaime lusinchi said venezuela would loan five mln barrels of crude to ecuador over the next three months to make up for losses from damage to the pipeline
the st
it is secured with canadian government bonds
samuel alberto yohai director of the foreign trade institute incomex said private businessmen should not become what he called mental hostages to coffee traditionally colombias major export
he noted as an example that new stock in fmc corp fmc which adopted a highly leveraged structure last year inititally traded at 1250 dlrs per share dipped to nine dlrs and is now just over 30 dlrs
december illinois river ex chicago 122 1 2 pct bid 127 1 2 offered down 2 1 2 points on offer
the white house economic policy council is expected to discuss possible sanctions against japan at a meeting scheduled for thursday
harcourt is asking the court to rule the company is not required to issue common to debenture holders who did not convert prior to june eight
tisch brothers lower tosco tos stake
it was the second half of a two week bank statement period that ended on wednesday
this reflected the decline in oil prices last year and difficulties in marketing uae oil the central bank added
under french law foreign investors are restricted to a 20 pct direct stake in privatised companies but can boost their stake to 40 pct through indirect holdings
french gdp should rise 23 pct in 1988 ministry
danish foreign minister uffe ellemann jensen said in an interview with the daily berlingske tidende denmark will not accept a ban on danish meat exports and i am sure we can reach an understanding with the canadians with the help of the ec danish pigmeat exports to canada were worth 106 mln crowns in 1986 while canadian exports to the european community totalled about 65 billion us dlrs
there also will be an uncommitted tender panel for the issue of sterling and multi currency advances and sterling acceptances
ivory coast minister delayed for cocoa talks
fed buying dollars for yen in open market new york dealers say
the bank has provided the system with around 171 billion stg assistance so far today
gulf states said the banks had requested the utility to begin making prepayments by the end of april of 45 mln dlrs more than the estimated 1987 lease payments of 40 mln dlrs
lord abbett value appreciation fund annual div 33 cts vs 23 cts prior long term capital gain 206 vs 75 cts prior short term capital gain 18 cts vs 11 cts prior pay april 6 record march 12 lord abbett us government securities fund daily div 029 cts vs 029 cts prior pay april 15 record april 15 lord abbett tax free income national series daily 068 cts vs 068 prior pay april 15 record april 15 lord abbett tax free income fund ny series daily 067 cts vs 067 cts prior pay april 15 record april 15 lord abbett tax free income fund texas series daily 059 cts vs 059 cts prior pay april 15 record april 15 lord abbett california tax free income fund daily 062 vs 063 cts prior pay april 15 record april 15
petro canada the state owned oil company said it raised the contract price it will pay for crude oil 64 canadian cts a barrel effective march six
standard and poors corp said it raised to b from b minus valero energy corps preferred stock
we think we made a fair offer that is good for borg warner management and good for its shareholders heyman said
the record and pay dates would be announced later it said
the us share of revenues for this year will be about 35 pct rising to 40 pct in fiscal 1988 he said
other banks such as saudi british bank 40 pct owned by the british bank of the middle east are disadvantaged by a relatively low deposit base
agricultural output hit by adverse weather fell by 73 pct last year led by coffee production which was 46 pct down
now it is beyond the reach of many small investors pldt common stock surged from a low of 37 pesos in february 1986 to 36750 at close of trading yesterday on the manila stock exchange
dayton hudson corp said retail sales for the five weeks ended april four were 7918 mln dlrs compared to 7556 mln dlrs a year ago
cattle prices closed lower but continued to show strength related to tight supplies
end feb stocks of edible tallow amounted to 419 mln lbs vs a revised 401 mln lbs and 486 mln lbs in their respective periods
particularly for the banks recent developments in international financial markets give rise to the question whether the swiss financial system which has shown substantial flexibility in the past is adapting itself at the speed required to preserve its competitive position it said
during the week ended wednesday 45 pct of net discount window borrowings were made by the smallest banks with 30 pct by the 14 large money center banks and 25 pct by large regional institutions
the bank of japan will sell 500 billion yen of financing bills via a 32 day repurchase agreement to help mop up a money market surplus of around 1750 billion yen tomorrow short term money houses said
but it is the underlying peaks and troughs of the major currency movements which lay bare the real picture in which the plaza pact appears as an event of prime importance but not necessarily central significance the officials said
non refundable for five years the issue is rated baa 3 by moodys and bbb minus by s and p
however the rating agency pointed out that last quarters number of downgrades was the lowest since first quarter 1986
canadas leading composite indicator advanced 04 pct in december after gaining 04 pct in the two previous months statistics canada said
indonesia and malaysia asias two biggest commodity producers are expanding cocoa output and are both outside the international cocoa organization icco officials have said malaysian production is expected to total 150000 to 155000 tonnes in calendar 1987
he gave no more details
shr 22 cts vs 16 cts net 2460000 vs 1730000 sales 370 mln vs 273 mln note share adjusted for two for one stock split in february 1987
ore production totaled 650653 tons last year it said estimating year end reserves contained about 627000 ounces of gold and 265 mln pounds of copper
amoco an oil reserves down gas up in 1986
high end computers primarily the sierra line are coming to the end of their product life cycle
we will react to market factors adequately
the irving economist noted that three times last year in a similar paroxysm of pessimism the key bonds reached a similar closing yield high
gelco gel to sell canadian courier unit
the pfl holds the education ministry
terms were not disclosed
tom harkin d iowa defended his controversial mandatory supply control farm bill and said us farmers should be allowed to vote in a referendum whether they approve of the proposal
net interest income rose on firmer interest margins by 161 mln marks to 3816 mln
but dealers said shares of deutsche bank ag dbkgf had been strong in recent days partly on hopes that the issue would allow the bank to place its fiat quota with investors at a reasonable price
a weak dollar a lower tax rate and strong mainframe computer sales all contributed to the better than expected first quarter results analysts said
bull is on the governments list of companies scheduled to be privatised over the next five years but no date has been set
he said mercury communications ltd a cable and wireless plc cawll subsidiary was becoming a significant competitor
cooper development co said it revised results for the year ended october 31 to a loss of 617 mln dlrs or 233 dlrs per share down from the previously reported loss of 121 mln dlrs or 46 cts per share
exports hit 977 billion dlrs in 1984 cutting the regions debt service ratio to 36 pct but they fell to 783 billion last year
they said 79250 tonnes of wheat promised by britain would be shipped next week and used for the governments food for work program in the villages
as a result of the large volumes of brazilian beans purchased japanese crushers will buy a total of only 150000 tonnes of us beans for may shipment
fleet flt could face connecticut divestiture
in order to reconstitute a treasury security a deposit taking institution will have to obtain the appropriate principal component and all unmatured interest components the treasury said
the bank of england said it has operated in the money market this afternoon buying back bills totalling 347 mln stg
by raising the minimum amount of aid required in mixed credits the agreement aims to make such hidden subsidies too costly for frequent use
ecuador begins work on oil pipeline to colombia
john o
with the increase in size large dealers have been buying up other dealerships and auto analysts see few signs the trend will let up
halvorsen said this is the first time saga has applied to operate on opec member gabons continental shelf adding that italian oil company agip is heading a group of applicants in a separate bid for the same license
us trade representative clayton yeutter had announced the intended action on january 2
the fall in unemployment is bottoming out and the government has already admitted it will not meet its goal of reducing unemployment by an annual 50000 from 1986 to 1990
as envisioned by the latter the next move would be for brazil which has delayed payments on its debts to say it does not intend to pay interest for a very long period of time
jordans key economic priorities are having a sound national treasury and adequate foreign exchange reserves prime minister zeid al rifai said
the company said shareholders will receive one additional share for each share held at the close of business on march 23 1987 and additional shares will be distributed on april 13 1987
west german exports to the european community were 2160 billion marks in january down from 2214 billion in december and 2294 billion in january last year the figures showed
bps partner in the venture is galactic resources ltd galcf of toronto
shr nil vs four cts net 12000 vs 140000 revs 4446000 vs 3998000 avg shrs 4364000 vs 3461000 year shr 60 cts vs 22 cts net 2257000 vs 774000 revs 183 mln vs 211 mln avg shrs 3788000 vs 3461000 note net includes realized gains on investments of 50000 vs 105000 for qtr and 174000 vs 202000 for year
watanabes latest proposals said that the eight core companies of the new group should have equal share holdings but added that they could work out the precise percentages amongst themselves
bancroft said the suit also names michael b
this marks our first major expansion in california particularly in the south said citicorp savings president edward valencia in a statement
currency sectors continue to feature eurobond trade
dealers differed as to whether the us central bank actually intervened to sell dollars above 187 marks or simply telephoned dealers to ask for quotes and enquire about trading conditions
ec authorises export 55000 tonnes maize maximum rebate 130 ecus tonne trade sources
the 15 pct figure up five percentage points from earlier proposals represents a concession to consumers delegates said
the itc was informally told of the appeal made yesterday by amalgamated metal trading ltd amt against the january court ruling against it in the legal bid it led on behalf of itc creditor brokers to have the itc wound up
yeutter said in the aftermath of the canadian and israeli pacts other countries have realized that if they want to continue to have access to the worlds largest market they had better get serious about improving the gatt the pact with israel he said is gradually increasing shipments both ways and the canadian pact will substantially increase the gross national products in both countries
continued low crude oil prices would continue to subdue us exploration activity
the oecd called for efforts to liberalize world agricultural markets through switching farm subsidies away from price guarantees and other measures linked to production towards direct income support for farmers
his position within the ldp itself is not so strongly established today nakasone who has been more popular with the general public than with many ldp members is now seeing his public support eroded the analysts said
american electric power cos indiana and michigan electric co said on june one it will redeem 64 mln dlrs principal amount of its 80 mln dlrs of 11 3 8 pct first mortgage bonds due 1990 at par
qtly div class a nine cts vs 75 cts prior qtly div class b nine cts vs 75 cts prior pay april 30 record march 31
based on the current price of etl shares of 105 dlrs the alternative is worth 397 dlrs per share but etl said the value placed on its shares for the offer aproximates to the diluted asset backing of etl as at march 31
john loynes continental chief financial officer said the fresh start provision allowed the company to discount opening tax reserves to january 1 1987 which released deferred taxes into earnings
a spokeswoman for the company said that the early morning dynamite attack was the 31st in the last nine months on the cano limon covenas pipeline which links colombias biggest oilfied at cravo norte to the caribbean
defense secretary caspar weinbergers position was not immediately known but in the past he has opposed the transfer of high technology to foreign governments and companies
iranian premier reiterates warning of retaliation
the bonds are guaranteed by unilever plc whose outstanding debt securities are rated aaa
brazil recently stopped paying interest on its commercial bank debt
following that move pc acquisition planned to merge a subsidiary into purolator converting all outstanding purolator common it did not own into an aggregate 46 mln dlrs principal amount of 12 pct guaranteed debentures due 2002 and warrants to purchase 15 pct of a purolator unit comprised of purolators us courier operations
an unstable lower dollar would also affect japanese investment in us bonds
final terms will be fixed on april 13 and the non callable issue is available in denominations of 5000 dlrs
by 1988 overall revenue growth should rise to about 16 pct against 58 pct growth in 1987 and 24 pct in 1986 martin said
buttrose said he expected a march deficit of around 900 mln dlrs and added any figure under a billion dollars will be acceptable to the markets anz banking group ltd anzas senior economist ian little said the big question was whether the improvement in exports could be sustained
varieties of the deadly disease attack major cash crops such as cotton vegetables orchard trees citrus fruits and garden plants the company said
physio technology inc said it expects to have a third quarter ended march 31 loss of about 200000 dlrs and is in default on its bank loan because of the resignation of chairman and chief executive officer
he said on the present repayment schedule yugoslavia would have a net outflow of two billion dlrs and the level of debt would be halved by 1995
foreign minister tadashi kuranari will accompany nakasone ministry officials said
braverman said economic activity next quarter will suffer from a paring of inventories lower capital investment slow government spending and less construction
cbs issues 400 mln dlrs in convertible debt
pell calls for transportation bonds
the company said accounts will be moved into other transohio offices
shr 46 cts vs 42 cts net 3418000 vs 3129000 revs 247 mln vs 262 mln
uk 4th qtr trade deficit 26 billion stg current account deficit 760 mln official
paz estenssoro froze public sector wages set a market related rate for the peso introduced tax reforms and laid off thousands of workers in state corporations
usda noted that the soviet winter grain crop suffered through a severe winter and spring field work has been delayed
standard said that fees charged will include an application fee commitment fee and out of pocket expenses such as title work survey recording fees and private mortgage insurance
most economists said they did not expect the fed to add reserves with federal funds trading below six pct
he did not elaborate on the quota arrangements but did say ecuador would notify opec by telex that venezuela would be lending it a certain amount over so many days
plans of nearby cuba the worlds largest cane sugar exporter to increase output to 10 mln tonnes a year by the end of the decade seem ambitious trade sources said
china buys us hard and soft wheat
a strong performance by its retail businesses and affiliates will enable jardine matheson holdings ltd jardhkg to report on friday a big leap in net profit in 1986 stock analysts said
general public utilities gpu five mths net
japanese securities houses will issue new corporate bonds more quickly accept issue requests throughout the month instead of at month end and introduce a competitive underwriting method from april 1 to bring japanese firms back to the tokyo bond market securities managers said
a deficit of some 800 mln to one billion dlrs was expected by one house active in the sector
asamera said holding all its mineral properties in a separate company will give better and more direct recognition to the value of the assets
a statement said the acquisition would fit perfectly into its package for the banking and securities industries
oper shr 69 cts vs 83 cts oper net 359 mln vs 424 mln revs 7989 mln vs 6592 mln avg shrs 520 mln vs 509 mln nine mths oper shr 238 dlrs vs 275 dlrs oper net 1233 mln vs 1356 mln revs 231 billion vs 186 billion avg shrs 518 mln vs 493 mln note net excludes losses from discontinued operations of nil vs 161 mln dlrs in quarter and 2275 mln dlrs vs 427 mln dlrs in nine mths
exxon corps domestic subsidiary is already marketing the 89 octane unleaded gasoline along much of the east coast
groupement pour le financement des ouvrages de batiment travaux publics et activites annexes gobtp plans to launch two variable rate domestic bonds totalling 700 mln francs lead managers credit commercial de france ccf and caisse centrale des banques populaires ccbp said
qtly div 30 cts vs 30 cts prior pay june 8 record may 18
in paris britain canada france japan the us and west germany agreed to coooperate to hold currency rates around their then current levels
brazil has coffee to sell and wants to show that it does not need an ico agreement as a crutch dauster said
the government has already said it will announce further deregulation measures but has given no timetable
subscriptions close april 24
mischer corp mshr 4th qtr loss
national self a developer of storage space for business records said the purchase includes nine storage facilties
the number of people actually receiving benefits under regular state programs totaled 2359000 in the week ended may 30 the latest period for which that figure was available
emanuel did not specify how long ecuador would be unable service private foreign banks
brazil the largest cane producer with output of around 240 mln tonnes uses over half to produce alcohol fuel
sergey frolov chief economist at amtorg trading corp an agent for soviet trade organisations and industries told a us ussr business meeting the soviet union produces few items that western nations want
jm said all of its directors except jack e
north hills said construction of the plant which will make electronic power supplies and interconnect devices for computer local area networks will be completed by the second quarter of its current fiscal year
still coupon issues were unable to recover completely from this weeks steep losses as trade tensions between the us and japan pressured the dollar and discouraged japanese investors from buying us treasury bonds
it will depend on the outcome of collective wage agreement negotiations here whether there could be cost push inflation the abn economist said
shr 109 dlrs vs 120 dlrs net 1193000 vs 1361000 revs 187 mln vs 173 mln year shr 119 dlrs vs 152 dlrs net 1300000 vs 1831000 revs 506 mln vs 488 mln
national beverage to acquire faygo
shr 65 cts vs 51 cts net 615 mln vs 502 mln revs 112 billion vs 9608 mln avg shrs 953 mln vs 994 mln
this will distinctly make the index more useful said frank korth of shearson lehman brothers inc
the 1986 profits of coastal a natural gas production and pipeline company were halved from 1985 levels due to slumping energy prices
the agreement between the two companies calls for a 50 50 joint venture in london focussing on investment advisory asset management market research and consulting on financing
the department said in a statement seasonally adjusted but non smoothed figures showed a deficit of 99 mln dlrs against 76 mln dlrs in march and 230 mln dlrs in april 1986
merrill lynch capital markets and shearson lehman brothers inc are lead underwriters unocal said
malta is tendering to buy 3000 tonnes white sugar today for arrival in two equal parts in may and june traders said
exxon and other major oil companies have closed a bunch of refineries in europe upgraded the rest and shaken many of the indepedents out of the market
according to terms of the proposed transaction each share of datron common stock excluding those shares owned by the four officers will be bought for six dlrs a share it said
the suspension effects the march 15 payment and it said it does not expect to pay preferred dividends in the forseeable future
epsilon data epsi gets new credit agreement
prior qtr and year figures exclude losses from discontinued operations of 600000 dlrs or 17 cts per share and 11 mln dlrs or 33 cts per share respectively
at a meeting in paris last month britain canada france japan the united states and west germany agreed to cooperate to hold currencies at around current levels
qtly div three cts vs three cts prior pay april 2 record march 16
the company earlier reported a 20 pct rise in pre tax profits for 1986 to 114 billion stg from 953 mln previously
white house budget chief james miller said he was concerned that the federal reserve might overreact to the decline in the value of the us dollar by raising interest rates a move he said could cause a recession next year
bilzerian ups pay n pak pnp stake to 99 pct
they want price ranges to be more responsive to market trends to avoid overstimulating output and straining the accords support operations and intervention rules that avoid the risk of exports by non members undermining the pacts
between april and december 1986 ccc issued 38 billion dlrs worth of certificates according to usda
calls to harcourt seeking comment were not returned
they attributed the projected surplus mainly to 1900 billion yen of government tax allocations to local governments and public bodies
without supplying specific figures barnes told shareholders at its annual meeting it expected net income to improve at a rate exceeding its growth in sales which was two pct higher than 1985
unicorp american corp uac sets quarterly
the senates democratic and republican leaders praised president reagan for retaliating against japan for violating a semiconducter accord but dashed cold water on ideas it was the first shot in a trade war
the rating agency cited hechingers consistently increasing profitability and relatively stable financial structure
duff phelps upgrades bellsouth corp bls unit
it said as sorgs largest single shareholder it will evaluate all its options including making a further offer to sorg or disposing of some or all of its sorg shares
mcdonalds corp will be coming to the eurofranc market for the first time with an issue likely to be led by societe generale and a third will be for an unidentified international borrower
the mood in the united states is extremely disturbing
he will see suharto on tuesday after a day of detailed discussions with ministers tomorrow
fees comprise 7 8 pct selling concession with 1 2 pct for management and underwriting combined
ten companies plan to offer the unleaded gasoline this summer starting with idemitsu kosan co ltd on june 20
refinery crude runs in the four weeks were 1192 mln bpd up 10 pct from 1180 mln a year earlier it said
gencorp inc said its board urged shareholders to reject the hostile unsolicited 100 dlr a share tender offer made march 18 by general acquisition inc an affiliate of wagner and brown and afg industries inc
oper shr loss 16 cts vs loss 10 cts oper net loss 1569000 vs loss 990000 sales 503 mln vs 501 mln nine mths oper shr loss nine cts vs loss two cts oper net loss 849000 vs loss 199000 sales 1599 mln vs 1566 mln note current nine mths net includes 1036000 dlr pretax gain on sale of property
peat marwick and nolan norton to merge
one source said india is showing more dynamism in promoting countertrade deals than in the past when the deals were made discreetly because they break gatt rules
swiss consumer prices rise one pct in march
the offer for norcros preferential shares offers one williams preferential share for each one of norcros for a value of 130p each and a total of 29 mln stg
he said the market interpreted this as indicating the us would favour a weaker dollar and it had little intention of intervening to support the currency
about 30 pct of argosystems business comes from international customers
the company said this could bring earnings for 1987 below columbias stated goal of earning no less than its 318 dlrs per share dividend it earned 212 dlrs a share in 1986
hanson industries the us arm of hanson trust plc han said it has proposed to sell in separate transactions kaiser cements northwest terminals and montana city plant to lone star industries inc lce and ash grove cement west inc respectively for a total of 502 mln dlrs
after conversion of the unisys interest control data will own 80 pct honeywell inc hon 14 pct and bull sa of france six pct it said
adjusted psl2 rose by 12 pct in february against a 06 pct rise in january the bank said
the bank which primarily assists countries in the building of roads sewerage systems education and other so called infrastructure is viewed in the third world as benefactor
joseph light and power co is full name of company
itoh and co ltd cittt which holds 20 pct of idc said a meeting may be held later this week
rlr contested the charge but stopped market making in its own stock
westpac launched the facility early this month at 200 mln dlrs but soon reduced it to 100 mln dlrs and amended the terms due to the markets cool response
meanwhile protests from angry european farmers over successive attempts to scale down unwanted community food production appeared to be gathering strength
shr 41 cts vs 17 cts net 8824000 vs 4555000 revs 3019 mln vs 1964 mln note housing backlog 135 mln dlrs up over 33 pct from a year earlier
utilization of offshore mobile rigs in the gulf of mexico climbed by 21 pct last week to 389 pct reflecting a total of 91 working rigs offshore data services said
shr profit two cts vs loss two cts net profit 123000 vs loss 104000 revs 125 mln vs nil note 1987 period includes 112000 dlr extraordinary gain
french state agricultural bank caisse nationale du credit agricole has joined the group led by publishing house hachette which is bidding for control of the state television station tf1 replacing banque nationale de paris which has withdrawn hachette said in a statement
speaking to the new york chamber of commerce and industry yeutter said capital and trade flows are clearly inter releated now
the additional production facilities inlcude both modern and antiquated plant all of which will add to chryslers fixed overhead and increase its breakeven point at a time that the industry faces a glut of automaking capacity
jm said dei provides specialty insulation installation and asbestos removal services
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
we are determined to follow our plan to restore this company to profitability he said
bei beih acquires ivey rowton and associates
cpc international inc cpc qtly div
venezuela plans to have a public sector foreign debt of 265 billion dlrs by early 1989 when the present government of president jaime lusinchi ends its term public finances director jorge marcano said
shr loss 57 cts vs loss 30 cts net loss 59 mln vs loss 32 mln revs 56 mln vs 163 mln year shr loss 211 dlrs vs loss 95 cts net loss 220 mln vs loss 99 mln revs 293 mln vs 663 mln
wesbanco inc said its board executed a merger agreement with the bank of sissonville when the merger is completed each of the 50000 shares of the bank of sissonville common stock outstanding will be converted into 275 shares of wesbanco common stock the company said
chinas foreign debt reached 27 billion dlrs by the end of 1986 but despite an over exposure to short term credits and yen borrowing china remains very creditworthy with an improved 1987 export outlook foreign bankers and chinese officials told 
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
the well is producing 300 barrels a day he said
grandview acquires control of uk ticket group
the sources today said the governments policy remained one of recovery or sound finances and greater efficiency
shr basic 392p vs 360p shr fully diluted 372p vs 343p div 70p making 105p vs 85p pretax profit 8219 mln stg vs 6882 mln tax 2725 mln vs 2742 mln minority interest 986000 debit vs 124000 credit extraordinary items 411000 credit vs 219000 debit
boschwitz was one of the original supporters of a marketing loan for cotton and rice but has since focused support on decoupling legislation the boren boschwitiz bill
an investor group led by new york investor george soros said it was dissatisfied with fairchild industries inc management and was considering boosting its holdings to as much as 499 pct of the aerospace and aviation companys outstanding stock
crivits said the company will report an improved but still unprofitable third quarter ended february 28 compared to a loss of 22 cts a share in the year ago thrid quarter
analyst rosemarie morbelli of ingalls and snyder said servicemaster companies lp svm or rollins inc rol were examples of companies that could be interested
it is a routine procedure followed by all other gatt member states
they appear to be linking completely unrelated issues shuichi takemoto of the foreign ministrys north american division told 
he said we are going to struggle with courage for brazil and its growth
rorer group inc ror 1st qtr net
under the government plan for repaying the 78 billion dlr private debt the central bank will guarantee debtors their dollars at 75 with a premium of 450 per dollar
has been named to succeed robert l
earnings from mobils upstream operations in 1986 were 827 mln dlrs down 54 pct from the previous years 18 billion dlrs in earnings
mark iv says it does not plan baird batm buy
commonwealth senior manager graham hand told the facility was the first in a program modelled on the us commercial paper market
bhagat said the fci had a total of 1643 mln tonnes of food grains in its warehouses at the end of 1986
the conference noted that all market indicators including spot prices in the market and netback values of all opec crudes have been firming up significantly thus consolidating the opec price structure as defined by the agreement the conference examined the supply demand outlook for the second half of the year and decided that in order to secure continued firm prices in the market opec production during the fourth quarter of 1987 will be equal to that of the third quarter ie 166 mln barrels per day bpd distributed into the same national production levels as were defined by the above mentioned agreement for that quarter furthermore the conference decided to establish a committee of five heads of delegation to monitor the price evolution in the market in relation to the opec official prices in order to secure price stability around the opec price structure
gte gte cites loss of sprint
mts a company formed by martin sosnoff caesars worlds largest shareholder today began a tender offer valued at 7252 mln dlrs for all shares sosnoff doesnt already own
employment should rise by 01 pct a year over the next two years while the state budget deficit should be cut to 22 pct of gdp in 1988 from 26 pct this year and 29 pct in 1986
nobel managing director anders carlberg said an internal inquiry has revealed an extensive network of international arms smuggling
douglas said whatever the outcome of these influences the net public sector injections will continue to be fully funded on a fiscal year basis
in washington us defence secretary caspar weinberger said four us destroyers attacked and destroyed an iranian oil platform about 120 miles east of bahrain
consumer members accepted the proposal as a good base to work from one consumer delegate said
maoist guerrillas using dynamite derailed two locomotives and four train wagons interrupting traffic on perus sole railway line linking the capital to the central andes where most of the countrys mining centres are located authorities said
the 1986 deficit was 1698 billion dlrs and there is as yet little indication that this years figure will be any lower though administration officials have predicted it will drop by about 20 to 30 billion dlrs by years end
bankamerica finance provides residential mortgages in south east england
it said residual fuel stocks rose 28000 barrels to 3825 mln from a revised 3798 mln barrels
it said bankruptcies in texas were up 574 pct oklahoma 559 pct colorado 558 pct and louisiana 466 pct
there is no known way to reproduce the wood or the millions of species within
williams said the charges in the current year were related to an ongoing restructuring
the company said its naphtha posting is up three cts a gallon to 43 cts
moodys assigns eurobond ratings
while consumer countries are welcome to participate they cannot dictate quotas which are very difficult to allocate as different objective criteria achieve different share outs of quota dauster said
pope evans has about 76 mln shares outstanding
telecast inc said it closed on the financing portion of its previously announced acquisition of approximately 14600 hotel rooms from dynavision inc the three mln dlr financing package was provided by sanwa business credit corp a subsidiary of sanwa bank ltd of japan the company said
the offer values each share at 100 pesos the price at which the philippine social security system suggested it might buy eight mln class a shares last week
the limit governs total borrowing by the fund from the governments general revenue account and various funds as well as borrowing by the fund arising from money market operations
the first paid will be the trading community and those connected with texaco in the shipping industry one new york trader said
canamax pacific trans ocean approve production
under the terms of the merger sovereign stockholders wil receive in a tax free exchange 01365 of a share of chubb common stock for each share of sovereign held the company said
the annual meeting is to be held in akron ohio
denominations are 1000 and 10000 dlrs with a 7 8 pct selling concession and a combined management and underwriting fee of 1 2 pct
jorio dauster president of the brazilian coffee institute ibc left brazil early today to attend a weekend meeting of latin american coffee producers in managua an ibc official said
fees comprise 1 3 8 selling concession and 5 8 pct management and underwriting combined
finance secretary jaime ongpin told reporters saturday that the alternative proposal is designed to avoid an impasse when debt rescheduling talks reopen in new york on tuesday
however the total to date of 506 mln tonnes is still substantially more than the 303 mln under licence a year ago
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
the plant which has been grown in southern texas reaches a height of 10 feet in three months and is said to produce better quality newsprint than wood pulp a cip official said
chartered bank net foreign currency assets fell 92 mln dlrs to minus 192 billion dlrs
pacific gas said unit 2 generated power about 937 pct of the time during its first year of operation
us trade representative clayton yeutter said that whether the exchange rate of the dollar would fall or rise in the coming decade would depend on nations financial monetary and tax policies
1985 results reflect operations for eight months ended dec 31 1985
to cope with the negative impact of the strong yen japanese enterprises must strive to cut costs by all means including holding down wages as much as possible otsuki said
nuclear metals inc said a delay in receiving certain new orders will result in negligible earnings per share for its fiscal second quarter
they feel its a different facility and so any kind of suggestion of a restructuring would look bad one banker said
the companies said the acquisition will result in a restatement of conagras earnings for the fiscal year ending may 31 but the restatement is not expected to materially change the previously reported or upcoming fiscal year end earnings
city resources ccimf to sell property stake
state owned taiwan power co will boost its domestic borrowings to further cut its foreign debt in line with a government policy to trim the islands huge foreign exchange reserves a company official said
economic policy decisions made last year in tokyo and at this years meetings of group of seven finance ministers in paris and in washington cannot be ignored or forgotten he said
schering said it will retain dr
1985s net included an extraordinary gain of 63 mln dlrs valhi said
uk money market shortage forecast revised up
intense united states and nato efforts bore fruit greece will stay in its national waters said the daily gunes
ducommun inc dco sells division
ongpin said the use of pins would result in anticipated savings of one billion pesos over the debt agreements 17 year life
because of projected early redemptions to the state of loans by building corporations analysts predict the state has to raise 32 billion guilders on the capital markets this year of which it has found 45 billion guilders on the private placement market
whim creek will hold 44 pct of the consortium while austwhim resources nl will hold 27 pct and croesus mining nl 29 pct it said in a statement
shr loss nine cts vs loss 192 dlrs net loss 950000 vs loss 21334000 revs 580000 vs 222 mln nine mths shr loss six cts vs loss 123 dlrs net loss 694000 vs loss 13710000 revs 5129000 vs 1119 mln note current qtr includes tax loss of 118000 vs loss of 476000 dlrs
campeau cmpt unit to sell garfinckels
news today including opec president rilwanu lukman statement that opec february production did not exceed its official quota of 158 mln barrels per day helped bouy prices traders said
moodys cited michigans ongoing losses which have impaired liquidity weakened financial flexibility and lessened the likelihood for operating performance to improve
paul volckers resignation as federal reserve board chairman creates a serious leadership vacuum at a time of deep uncertainty about the future management of the third world debt crisis bankers said
csr bids 220 dlrs a share for pioneer sugar mills
autospa lube to buy control of cardis cds 
the growing debt burden of latin american and african nations will also provide impetus for the gatt round to succeed he said
he said it is more important to find ways of encouraging banks to remain in the syndicates than to find ways of enabling them to quit the lending groups
uk visible trade deficit narrows in february
shr 85 cts vs 73 cts net 3150000 vs 2699000 sales 398 mln vs 343 mln nine mths shr 219 dlrs vs 186 dlrs net 8109000 vs 6876000 sales 1115 mln vs 1007 mln note 1987 tax credits added 14 cts to third quarter net and 33 cts to nine months net compared with credits of 16 cts and 45 cts in the respective 1986 periods
interested parties have until march 25 to file statements in response to the supplemental petition
aristech chemical corp said it plans to increase production capacity for three of its key product lines polypropylene bisphenol a and phenol
in connection with the agreement the company said it sold 666667 shares at 75 cts a share
our two largest visible industries autos and housing are faltering but exports are picking up some of the slack martin mauro senior economist for merrill lynch economics told 
the company named painewebber inc as lead underwriter of the offering
usda undersecretary daniel amstutz yesterday said the soybean situation is a dilemna which has been studied extensively by the department
computer terminal makes computer generated labels forms tags and ticket printers and terminals
the philippines will offer its commercial bank creditors an innovative pricing plan that will make debt payments through certificates of indebtedness as an alternative to cash the authoritative business day newspaper said
indeed a texas state court of appeal this morning said the bankruptcy petition effectively stays texacos obligation under texas law to post a bond in its 1053 billion dlr litigation against pennzoil co pzl the filing was not the result of credit weakness
maxtor corp said it bought privately held storage dimensions inc for an undisclosed sum
scott instruments corp scti year loss
aha automotive technologies corp year net
thai smelter faces tin concentrate supply shortage
take or pay contracts oblige pipelines to pay producers for gas even if delivery is not taken by its customers
citibank ltd said it would lower its australian prime rate to 16 pct from 165 effective tomorrow
the government bonds are listed as securities but traded on indias four major stock exchanges
the amount of these credit lines totals 15 billion dlrs and deadline for payment is set for march 31
net loss 705496 vs loss 182766 sales 642590 vs 1126315
the statement said ministers were very disturbed by us moves towards protectionism
kidder peabody is co managing the issue
day international corp said it has entered into a letter of intent to sell its allen industries inc unit to a group including the units current management
the 19 mln acres on corn is certainly disappointing he added
some analysts said the open row that broke out last week between producers and the ec commission over its export policy could have serious implications for future sugar output
the united states appears to have won a transatlantic battle by forcing the bundesbank to trim interest rates european economists said
gulf applied gats sells units sees gain
abbey national has been very active in the international capital markets ever since building societies were permitted by law to tap the wholesale markets
it said the existing five year agreement due to expire this july 24 was extended until the end of 1988 to allow for additional geological and geophysical studies
the figures continue to indicate a switch away from these traditional major producing countries to the more advanced developing countries
semiconductors are the small silicon chips used for memory and recall purposes in a wide variety of computers
we will have a good bill and an effective bill he told reporters
singapores m 1 money supply rose 37 pct during december to 982 billion dlrs after a 20 pct increase in november the monetary authority of singapore mas said
the supply in december was 59 months
of this the net sale of danish crown bonds to other countries totalled about 25 billion crowns
gencorps buy back was made to fend off the hostile 23 billion dlr 100 dlr a share tender offer by afg and wagner and brown
the treasury department is due to release funds for the brazilian coffee institute ibc to pay for the coffee purchased from local producers the ibc said in a statement
in just two days we had as many issues
qtly div 19 cts vs 19 cts prior pay april 15 record april three
central bankers said they were generally satisfied with the response to the paris accord two weeks ago to stabilize currencies at around current levels
bow valley bvi to sell norwegian subsidiary
boschwitz told that neither he nor the us agriculture department had decided whether or how deficiency payments should be guaranteed to farmers who might choose not to plant under the decoupling scheme
argentina unaffected by brazils maize decision
but his hopes for quick passage of the budget in time for his trip have been shattered by a parliamentary boycott by opposition parties protesting over the sales tax plan
the remainder of alcan new zealands totalled issued 2184 mln shares are broadly held while alcan australias are primarily held by institutions
banking sources said the new government securities market scheduled to have been launched on march 2 had been delayed pending legislative approval of these bills
custom manages some 215 food contract management operations and about 65 environmental service accounts producing about 100 mln dlrs in annual revenues
of this 21 mln dlrs was to be paid 11 months later and two mln dlrs per year on the anniversary date of the transaction
the question is whether through cooperative actions between our governments we can reduce the trade imbalance or whether congress takes action to reduce it through protectionist legislation he said
last years us offer of subsidized wheat to the soviets was rejected because of an insufficient subsidy melnikov said
dep corp depc 2nd qtr jan 31 net
china has signed 36 oil contracts and agreements with 37 companies from 10 countries since 1979 when offshore exploration was open to foreigners
papandreou shows restricted optimism over crisis
italys gruppo ferruzzi is in the advanced stages of negotiations that could result in an acquisition worth some hundreds of billions of lire in the european agro industrial sector a company spokesman told 
they said at this price it seemed unlikely that the full they added the decision is also designed to prevent massive offers of maize for intervention just ahead of the normal april 30 deadline which could be caused by speculation about the implementation of the accord with the united states
supplies of uk index linked bond exhausted
the average mid market rate for lending rolled over for one week is 10 15 16 pct and for two weeks 10 5 8 pct
shr 28 cts vs 22 cts net 14 mln vs 106 mln revs 1638 mln vs 1273 mln year shr 81 cts vs 59 cts net 405 mln vs 287 mln revs 5212 mln vs 3916 mln
saudi arabia is not playing that role
eager technology acquires nuclad
torchmark tmk authorizes stock repurchase
this need for additional reassurance was made all the more acute by the feds decision yesterday to drain reserves from the banking system by arranging overnight matched sale purchase agreements for the first time since april of last year economists added
shr loss 122 dlrs vs profit 27 cts net loss 8812432 vs profit 1847560 revs 7981198 vs 103 mln avg shrs 7187941 vs 6828368 note current year includes tax credit of 800000 dlrs
park ohio industries inc pkoh 4th qtr net
minorco mnrcy sees improved second half
net includes loan loss provisions of 127 mln dlrs vs 2400000 dlrs
shr loss 33 cts vs loss 48 cts net loss 17 mln vs loss 25 mln revs 63 mln vs 102 mln six months shr loss 54 cts vs loss 75 cts net loss 28 mln vs loss 39 mln revs 152 mln vs 234 mln
shr loss 94 cts vs profit 28 cts net loss 6319337 vs profit 1702016 revs 2899513 vs 5239106 note 1986 net includes 5250000 dlr writedown of oil and gas properties
i dont exptect them to take it but it could put some interesting options in front of ual management said timothy pettee bear stearns and co analyst
however as the lands began drying later in the week harvesting advanced considerably reaching between 36 and 40 pct of the area sown in the case of sunflower
kenya has for a long time relied on britain pakistan egypt and to a lesser extent the united states as major markets for its tea the sources added
telxon corp reported it expects revenues for the quarter ending march 31 to be between 26 to 28 mln dlrs
the company earlier reported a two mln stg rise in pretax profit to 40 mln in the six months to end january
the statement said such agreement currently being negotiated must place the debt within the terms proposed by brazil on september 25 brazil proposed to the private creditors a refinancing of the interest on its foreign debt that have expired or will expire up to 1989 totalling an overall 104 billion dlrs
spains trade deficit narrowed to 581 mln dlrs compared with 664 mln dlrs in january but the large increase in non oil imports contributed to the substantial increase over the 159 mln dlr deficit registered in february 1986
sufficient funds should be available to pay full amount of the march 31 1987 dividend to exchangeable preferred shareholders with payment expected in early april to shareholders of record march 31 the company said
he said bolivia could not even pay interest to friendly creditor countries let alone commercial banks
the bank of england said it has forecast a shortage of around 700 mln stg in the system today
the house of representatives has attached to a trade bill legislation that would temporarily deny mfn for romania pending certification by reagan that the country had made progress on human rights
in tokyo 14 london based firms are authorised to do financial business officials said
loan losses which the bank previously said figured in its move to sell off most of its assets rose to 1057 mln dlrs in fiscal 1986 from year earlier 361 mln dlrs
energy goods at the intermediate stage of processing rose 27 pct in february after rising 35 pct in january and were down 161 pct over the past 12 months the labor department said
bank of france launches money market tender
information ministry officials said the price freeze was aimed at protecting poor ecuadoreans from a wave of specualtion
the company said marine midland has agreed to advance it an additional working capital loan that will be personally guaranteed by chairman henry ginsburg
about 75 pct of the reserves are in the form of cash mostly in us dollars
valtek inc valt 3rd qtr jan 31 net
the acquisition price is 120 mln dlrs in cash a six mln dlr three year note and 100000 shares of kirschner common stock
the two issues are separate and independent
indeed us treasury secretary james bakers comment on sunday that the february currency pact had not established dollar targets was read by the market as a signal to sell the us currency and kicked off the latest retreat
the well is two km south south east of kerna 3 15 km south east of the dullingari field and 75 km east of moomba
shr 31 cts vs nine cts net 1345000 vs 368000 revs 319 mln vs 264 mln nine mths shr 91 cts vs 40 cts net 3890000 vs 3556000 revs 893 mln vs 717 mln note 1986 qtr and nine mths include loss 831000 dlrs or 19 cts per share and loss 1872000 dlrs or 44 cts per share respectively from discontinued operations
gross farm product rose 43 pct compared with rises of 26 pct in the third quarter and 28 pct a year earlier making annual growth of 66 pct
the company said it views its near term prospects with improved optimism
goodman fielder plans 100 mln dlr note facility
norsk data lowers 1987 pre tax profit forecast by 100 mln crowns
qtly div 45 cts vs 45 cts prior pay may 20 record april 24
it said primitive cultivation methods labour intensity and low productivity make grain the least profitable farm commodity
us offers more credits for veg oil to n
the stock are now expected to match the standard and poors 500 index rather than outperform the index as previously expected
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 on to the senate
if the dollar rate goes higher our debt service in terms of pesos gets higher so the financing is very difficult she said
since then despite massive bank of japan intervention and periodic market frights about further g 5 concerted action the dollar trend has been down down down
s and p affirmed the aa ratings on the senior debt of gm general motors acceptance corp gmac grantor trust and various overseas units
with the continued fall of the dollar against the yen 0speculation had arisen in currency markets here that japan might take new measures to support the us currency such as curbing capital outflows
payment date is april 25 and the securities are available in denominations of five mln yen
malaysia was also happy that in the new inra financing of purchases for the normal buffer stock of 400000 tonnes and a contingency buffer stock of 150000 tonnes would be done through direct cash contributions from members he said
shell francaise returns to profit in 1986
if export markets dry up because of recession or protectionism speakers warned latin america will be even more hard pressed to service its debts
japan alerts gatt to south korea import plan
coffee quota talks continue no accord seen likely
traders had also forecast todays total authorised sugar tonnage export awards to be between 60000 and 70000 tonnes versus 71000 last week when the restitution was 43248 ecus
yen may rise to 140 to the dlr nikkeiren says
this will gradually reduce the ratio of the surplus to gnp gross national product from the current five pct level to three pct by 1991 he added
spanish banks will also be allowed to expand their foreign currency funding formerly obtainable through deposits by issuing certificates of deposit bonds and commercial paper
groups of banks by nationality have chosen to take a look at what other groups of banks in other countries are willing to do and if let us say british banks wind up giving 99 pct of what is needed and us banks give only 92 pct then the british banks say as a whole they will pull out he said
merrill lynch does not intend to sell borg warner assets but it may be forced to do so in financing the deal said sources familiar with the transaction
iran is preparing lawsuits to file for compensation from the us over the american raid on its gulf oil platforms tehran radio quoted iranian oil minister gholamreza aqazadeh as saying
jumardi jukardi head of pertaminas foreign contractors coordinating board gave no details about the outcome of the talks
the clubs and equipment unit combined to post operating profit of 604 mln dlrs on revenues of 4756 mln dlrs in 1986 of which 4562 mln came from the clubs
foreign exchange reserves at end june are projected at 680 mln dlrs compared with 105 mln in 1981 82 he said
us trust corp ustco 1st qtr net
us home corp said it combined two existing credit and term loan contracts into a new credit agreement totalling 2223 mln dlrs with 18 commerical banks
the limited partnership will be offered outside the us allegis said
the estimated amount of oil at the alba field is around 320 mln barrels paul spedding of stockbroker kleinwort grieveson and co told 
shr loss 60 cts vs loss 43 cts net loss 3012000 vs loss 2114000 revs 1028 mln vs 1349 mln year shr loss 148 dlr vs loss four cts net loss 7338000 vs loss 180000 revs 3549 mln vs 4692 mln note 1986 4th qtr and year net includes a loss of 623000 dlrs and a gain 1910000 dlrs or 39 cts per share for an extraordinary item
sumita told reporters major nations have cooperated to bring about currency stability in line with the paris agreement which stipulated that they would closely cooperate to that end
american express said it will maintain 60 pct or 60 mln of the 100 mln shares of shearson that will be outstanding
the four are local subsidiaries of continental illinois holding corps cihn belgian unit continental bank sa nv amsterdam rotterdam bank nv amroas canadian commercial bank and union de banques arabes et francaises they said
the mine now produces gold at over 50000 ounces a year
but year on year growth is expected to be about two pct
any calls will be at 100 plus the coupon in year one declining in equal amounts to 100 in 1997
the ec oils measure offered by sen
the national banks currency reserves rose by 18 billion francs against a 28 billion rise in 1985
london traders were also reluctant earlier to predict the likely tonnage to be authorised for export in view of the on going dispute between the commission and european producers over the threatened action by the producers to move over 800000 tonnes to intervention
taiwan passes on us corn will retender
shipping is now permitted on all parts of the west german section of the rhine with restrictions in some areas
phase two the second sale will be in a month or so the chrysler executive said adding that proceeds will be invested exclusively in the equities market
the company purchased the 199 pct parcel in early march from amax inc amxn at 632 dlrs a share ahead of a one for three bonus issue when amax sold its entire 47 pct stake in acm to a number of local companies
entertainment publications sees 31 cts shr 3rd qtr loss on units disposal
the issue amount of mafina bvs seven year two pct swiss franc bond with equity warrants has been set at 250 mln swiss francs lead manager credit suisse said
miyazawa expects dollar to rebound soon spokesman says
the us producer price index for finished goods rose 01 pct on a seasonally adjusted basis in february the labor department said
the special factors which boosted money supply growth last year are disappearing one economist said
a freeze would mean domestic sugar production at about the current level of 65 mln tons the corn sweetener share of the us market staying at just over 50 pct and us sugar imports holding at about 12 mln tons huckaby said
texas air officials were not immediately available
argentina has pressed hard for a streamlining of the lending process because it has bitter memories of its last package which was agreed with the citibank led steering committee in december 1984 but not signed until august 1985
payment date is april 15
a grain industry representative said some participants were puzzled by usdas apparent reluctance to bring before the cabinet council an eep wheat offer to the soviets
asked what would happen if the leveraged buyout group which the company did not identify topped his offer between now and the board meeting bilzerian said he expected an opportunity to respond
one analyst speculated the extension makes it more likely hutton will attempt another offer
uk money market given late help worth 15 mln stg
john fairfax ltd ffxas first half
the debt is being offered via a syndicate managed by morgan stanley international credit suisse first boston and salomon brothers international
richardson electronics rell 3rd qtr feb 28 net
the agenda will include the approval of the banks annual report and accounts but there will be no debate on the capital increase which is currently being voted on by the adb governors
recent proposed offerings filed with sec
old fashion foods inc offi 3rd qtr feb 28 net
domestic oil output from existing fields is expected to fall to 280000 barrels per day bpd in fiscal 1992 93 from 546000 bpd in 1985 86 reflecting mainly the decline of the bass strait fields he said
exports in the first four months of 1987 were around 639 mln dlrs and imports 6283 mln compared with 771 mln and 500 mln respectively in the same period last year
an estimated 65 pct of egypts arsenal is still made up of soviet supplied equipment one official said
company sources said vw would have to dig into reserves to maintain the disclosed profit
stephens said he had no specific list of changes
the central bank issued 247 billion taiwan dlrs worth of certificates of deposit cds raising cd issues so far this year to 14193 billion a bank spokesman told 
wr grace and co said it has agreed to combine its cocoa processing businesses with those of s
the combination of preferred and common stock holdings permit shamrock and nawara to exercise voting control over approximately 53 pct of the shares of the company
peerless earned 576000 dlrs or 63 cts per share in fiscal 1986
us trust corp first qtr shr 88 cts vs 83 cts
national westminster said that it was responding to general easing in money market rates
beryl sprinkel chairman of the presidents council of economic advisors said stronger domestic demand growth in japan and western europe is needed to help stimulate us exports without having to rely on futher dollar declines
unicorp american corp uac 4th qtr net
pacific securities will issue two instruments
mdc holdings inc mdc sets quarterly
white house spokesman marlin fitzwater said president reagans record in opposing tax hikes is long and strong and not about to change
the paper said exposures to state owned industries and other public sector authorities in the uk and abroad should be given the more lenient treatment of credits to governments provided a government gives unconditional repayment guarantees
this is going to raise some eyebrows at the fed mccarthy said
it said the debentures were issued in three parts consisting of a 20 mln dlr issue at 104 pct maturing march 31 1997 22 mln dlrs at 106 pct maturing march 31 2002 and 58 mln dlrs at 107 pct maturing march 31 2007
six month euromarks stayed at midpoint 3 7 8 pct
but a decline in military capital goods will cap total new orders
fitzwater says reagan strongly against tax hike
pertamina has initialled a 20 year contract with chinese petroleum corp cpc for the supply of 15 mln tonnes of lng for taiwan starting october 1989 a cpc official said
the market had feared that a deteriorating non oil trade pattern would undermine international support for sterling which has been the motor behind the recent fall in uk interest rates
tektronix inc said it began its previously announced dutch auction cash tender offer for up to 10 mln of its own common shares
william martin deputy energy secretary said the costs of an import fee outweigh its benefits and suggested as energy secretary john herrington has depletion tax credits to encourage domestic production and limit oil imports
the company said it received a 25 mln dlrs partial payment in connection with the sale of property in manhattan and an additional one mln dlrs for early termination of the lease for its headquarters which was relocated in february
euratom issues 50 mln ecu bond
but he warned of another dip to below 145 yen
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
stgobain netherlands guaranteed by cie de stgobain is issuing a 75 mln ecu bond with gold warrants attached due may 6 1992 carrying a 4 1 2 pct coupon and priced at par lead manager salomon brothers international ltd said
the louvre accord is fundamentally misconceived
pre tax income 788 mln danish crowns vs 872 mln sales 421 billion crowns vs 411 billion income after tax 521 mln crowns vs 604 mln earnings per 20 crown share 2045 crowns vs 2379 dividend 20 pct unchanged
they said the accord once concluded would be put for approval to the french and italian authorities
amc amo takes no action on chrysler c bid
wormald said the businesses of the two groups are largely complementary in terms of both geographical spread and the nature of their activities with holmes concentrating on burglar alarms and wormald on fire systems
numerex corp nmrx 2nd qtr jan 31 loss
conrac corp said its board has rejected mark iv industries incs tender offer for all conract shares at 25 dlrs each and no conract director of officer plans to tender any shares
financial security fsslao to be acquired
el paso electric said it does not expect to have excess generating capacity
the net debt equity ratio at the year end had risen to 59 pct from 23 pct the year before it added
carolin mines crlnf has new assay results
bishop graphics bgph completes store sale
the market has not approached the old price limits and trading is relative quiet in narrow ranges he said
united brands inc 4th qtr shr profit six cts vs loss 11 cts
it said unless the government took action quickly to fix a competitive exchange rate and control the public sector deficit the higher the probability will be that the government will eventually have to resort to drastic curtailment of domestic demand and either sharp devaluation or still further controls on imports in order to stem inflation and support the balance of payments it said the bank would place more emphasis on the preservation of perus export potential external links and overall economic efficiency
grain stocks for three years
barnett banks of florida inc bbf 1st qtr net
standard and poors said chiyodas rating was based on its strong capitalisation stable performance and high levels of unrealised appreciation particularly in its stock portfolio
central bancorp inc cban 1st qtr net
currently a farmer to be eligible for corn program benefits must restrict his plantings of other program crops to the acreage base for that crop
but they also said that if money supply growth remains weak as this weeks unexpected eight billion dlr m 1 decline suggests it may this could influence the fed to loosen its credit reins and move toward a more accommodative monetary policy
when the dollar was strong against the mark many porsches had been bought locally in west germany for illegal export to the us porsche has previously said domestic sales in the 1986 87 first half fell to 3267 from 5387 in the same 1985 86 period
american motors corp said it is studying a proposed merger with chrysler corp
sanwa bank looks to securities world operations
he said 16000 miles of its 23000 mile fiber optic telephone line are now in the ground and 7000 miles are operable
japan september m 2 plus cd money supply rises 111 pct year on year aug 110
he noted high level meetings on the trade dispute are underway here but said i dont think theres anything i can report and i dont believe theres been any official movement
giles keating economist with credit suisse first boston ltd in london said the cautious bundesbank has beaten a retreat and baker has won a battle but he hasnt won the war as the security repurchase rate is still 20 points higher than it was before the imf meeting last month in washington before the imf meeting when the louvre accord was reaffirmed the bundesbank was offering money market liquidity at 360 pct keating noted
several firms including toyota motor corp
sallie mae said the notes will be priced at a spread to the bond equivalent rate of the 91 day treasury bill with the interest being reset the day after each weekly t bill auction
the mill produces softwood kraft pulp which is sold to other champion facilities and on the open market
the federal reserve was detected buying dollars for yen in the open market as the dollar fell to a 40 year low of 14460 yen in nervous late morning trading currency dealers said
the canadian import tribunal said the countervailing duty on us corn imports should be cut to 30 canadian cts a bushel from 110 dlrs a bushel
he said news of strong growth in exports of non oil goods confirmed recent bullish surveys among members of the confederation of british industry
north hills electronics inc said its north hills israel ltd unit received a commitment for 1500000 dlrs in financing from the overseas private placement corp the company said the money will be used to construct and equip a 14000 square foot manufacturing plant in israel
non callable for five years the debt is rated caa by moodys investors service inc and b minus by standard and poors corp
italy sets rules for company holdings in banks
equiticorp hongkong ltd is planning a 30 mln us dlr transferrable loan facility to raise working capital lead managers manufacturers hanover asia ltd and manufacturers hanover ltd said
shr 36 cts vs 36 cts shr diluted 34 cts vs 31 cts net 1679000 vs 1418000 sales 1472 mln vs 1215 mln avg shrs 4608000 vs 3963000 avg shrs diluted 5585000 vs 5463000 nine mths shr 104 dlrs vs 86 cts shr diluted 93 cts vs 77 cts net 4387000 vs 3393000 sales 4203 mln vs 3387 mln avg shrs 4233000 vs 3948000 avg shrs diluted 5564000 vs 5468000
the wallenbergs stake in swedish match had previously amounted to 52 pct of the voting rights in the company
standard and poors corp said the merger agreement between fleet financial group and norstar bancorp inc would not affect the firms current ratings because the merger cannot take place until july 1988
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
the roasters said the positions were generally fairly close and problems with some government officials
however observers have not forgotten the circumstances surrounding the administrations announcement of the wheat subsidy offer last summer
hill expects morris to earn 775 dlrs a share this year and 950 dlrs in 1988
jardine matheson announced earlier a 205 pct jump in 1986 net profits to 479 mln dlrs from 157 mln in 1985
foote mineral to merge into rio tinto
earlier we sent some food back to britain as a precautionary measure but we stopped in the absence of any alarming signals he said
twa said all usair stock owned by it would be in a voting trust and voted in the same proportion as the vote of all other usair shareholders
us export inspections in thous bushels soybeans 17683 wheat 20717 corn 36581
browns debt ratio increased to 498 pct by year end 1986 as higher inventories and a four year stock repurchase program has required additional financing s and p said
however the other portion of the security in which the investor pays 20 cents on the dollar for a zero coupon 15 year bond is of dubious value unless the westpac perpetual assumes a market value near par 15 years from now traders said
it now operates 64
standard and poors said it placed 66 billion dlrs of chrysler corp securities on creditwatch with negative implications because of its plan to acquire the outstanding common shares of american motors corp amo from renault acceptance bv for about two billion dlrs
it said the talks with commercial bank creditors on realisation of the second phase of yugoslavias multi year debt refinancing will follow in april this year
we can start to look at a point in time where the interest shifts away from dollar yen and more into dollar mark and the other european currencies the us bank dealer said
it said funds will be used for general corporate purposes
the greens creek venture is engaged in final project engineering of a gold silver lead zinc ore body on admiralty island about 15 miles southwest of juneau alaska
sterling eased a touch to 2950 marks at the fixing from 2957
since most of our products are commodity based i cannot see how this would work out in our case lim said
he also said he was satisfied with the current dollar mark exchange rate but added that he was not certain if it was ideal for the west german economy
output of intermediate goods fell 16 pct between the two latest three month periods
banc one corp said it has completed the acquisition of first national bank of bloomington ind which has assets of 271 mln dlrs
west german finance minister gerhard stoltenberg called it a good meeting and in brief remarks exchanged with reporters other ministers seemed pleased with its outcome
saudi arabia bought 4000 tonnes of malaysian refined bleached deodorised palm olein for june 1 10 shipment at around 356 dlrs per tonne cost and freight jeddah traders said
shr loss six cts vs profit two cts net loss 463473 vs profit 126835 revs 3506066 vs 3082499 year shr loss four cts vs profit three cts net loss 323214 vs profit 187893 revs 138 mln vs 108 mln
shr loss 10 cts vs loss 19 cts net loss 1348000 vs loss 2410000 revs 112 mln vs 223 mln acg shrs 138 mln vs 129 mln
in addition sluggish us economic data and little sign that the economy will pick up its pace in the near future may be enough to send bond futures to all time highs the analysts said
a tourist hotel in suzhou jiangsu province is raising a 21 mln us dlr loan to cover its construction cost lead manager dnc ltd said
citibank na was the issuing and paying agent
renouf corp to proceed with benequity bh bid
pursuant to the sale ual exercised its option to substitute cash for 200 mln dlrs of debentures and 55493 shares of common stock transworld liquidating said
this was part of a major economic reform to be announced in the coming weeks he said
minntech corp mntxo 4th qtr mar 31 net
the proposals were based on a doe study released yesterday warning the united states was threatened by a growing dependence on oil imports
the southerners goal of including agricultural and tropical products also was met
coradian corp cdin year net
recent slackness on dutch capital markets has led some bankers to question the central banks policy of pegging the guilder firmly to the west german mark and to ask for more flexiblility in exchange rate policy
about 800 members of the united food and commercial workers union ufcwu struck john morrells sioux city iowa pork processing plant at midnight sunday a spokesman for the ufcwu national said
they had cancelled last week he declined to identify the company
the sale is part of its restructuring the company said
washington however was not satisfied with the cuts and pressed for more reductions as a way of cutting its huge trade deficit with taipei
furthermore more than half the oil produced from imported beans is re exported to third countries tanghe added
the un food and agriculture organisation fao said global wheat and coarse grain output was likely to fall in 1987 but supplies would remain adequate to meet demand
however before the talks began tanjug said the agreement should cover 16 billion dollars of debt due this year and 35 billion due in 1988
despite the increase in concern over debtor nations in the last few weeks he said the international banking community is better armed than it was against payment problems
the us attack was in retaliation of last fridays hit of a kuwaiti oil products tanker flying the us flag the sea isle city
comp u card international inc cucdo 1st qtr
the revolving credit will be for five years and drawings will be at 10 basis points over the london interbank offered rate libor there also will be a 150 mln dlr swingline option available under which drawings will be at 10 basis points over the us prime rate
comb cmco makes acquisition
joe gold said the golden patricia vein has not been tested at depth or along strike to the east and west and exploration is continuing on the golden patricia property and the adjacent wholly owned muskeg lake property
timeplex inc tix completes redemption
gillette canada issues 500 mln french franc bond
pentagon officials said the platform had been used as a base for iranian raids against shipping in the lower gulf
conolog corp cnlg 2nd qtr jan 31 net
glamis gold ltd glgvf six mths dec 31 net
the cost of this approach is that the much needed revival of business investment will be further postponed it said
but heineken scientists have been looking at other possibilities
it said initial projections were for a 46 pct increase in gdp this year
payless cashways inc pci 1st qtr feb 28 net
the rebate at last weeks tender was 25 ecus per 100 kilos short of the level producers said was needed the officials said
gold reserves totalled 2847 mln crowns unchanged from the previous month and the year ago figure
with money supply growth showing no sign of slowing down in may and the dollar stable or even rising against the mark schlesinger told that he was not convinced that a further cut in interest rates was needed
the issue carrying interest of 1 8th of a point over the three month vienna interbank offered rate is the second of its kind
more more
the new cds with maturities of six months one year and two years carry interest rates ranging from 407 pct to 512 pct a bank official told 
plans for the proceeds include capital expenditures such as new office buildings equipment and facilities the company said
seagate technology sgat 3rd qtr march 3 net
hog and cattle slaughter guesstimates
kuwait has exploited all available opportunities to continue exporting its oil without any reduction the al anbaa newspaper quoted him as saying
morgan stanley mortgage trust a unit of the morgan stanley group is offering 31387 mln dlrs of collateralized mortgage obligations cmos in seven classes
1986 nine mth results exclude earnings from discontinued operations of 7549000 dlrs or 134 dlrs
the smaller coins will be in denominations of a half ounce a quarter ounce and a tenth of an ounce
ames add names new chief financial officer
uk property company mepc plc is issuing a 75 mln stg eurobond due april 15 2004 paying 9 7 8 pct and priced at 99 5 8 pct lead manager county natwest capital markets said
renewed optimism this year stems largely from the accord reached by opec last december to curb oil output and boost prices to a benchmark level of 18 dlrs per barrel
japan beef price support cut will not raise demand
the buyer was not named
upon completion of the proposed transaction the officers of datron would own 100 pct of the company
investors may take computerland public
to this end japan and the us must make medium and long term efforts to alter economic structures which have expanded the trade gap between the two nations
shr loss five cts vs profit 10 cts net loss 381391 vs profit 736974 revs 6161391 vs 9241882 note canadian dollars
government officials said japan would make a formal request next week for emergency talks and that the two sides would probably meet the week after just days before the april 17 deadline set by washington for the tariffs to take effect
brazils present foreign trade and payments problems mean there are pressures from the government to boost exports to maximise foreign exchange earnings
canada zero a sole purpose company incorporated in the cayman islands is issuing a zero coupon eurobond with a total redemption amount of 150 mln canadian dlrs lead manager cibc ltd said
neither palomino nor conades general manager enrique estremadoyro were available for comment on whether foreigners would be allowed to purchase the companies
consolidated first quarter figures were not disclosed
sales look soft because of the easter shift but underlying business is better than the numbers indicate said bear stearns analyst monroe greenstein
qtly div 15 cts vs 125 cts prior pay may 1 record april 17 note prior dividend is adjusted for recent six for five stock split
the cpi which oversees government spending said in its latest report to parliament that foreign currency reserves fell to a record low of 4079 mln kyats in september 1986 from 4303 mln in march 1986
last year mayer cut the initial prices between 19 and 27 pct but last fall the government announced a one billion canadian dlr aid program to compensate for the price cuts
1986 loss includes writedowns approximating 14 mln dlrs
selling delhi meant csr has finally quit a damaging investment made in 1981 which has dragged down the companys overall performance analysts said
jorge luis leao franco a senior official of the national merchant marine union told he was optimistic the talks would lead to an end of the stoppage which began last friday
us market loan not that attractive boschwitz
div is unfranked and thus will not be tax free under dividend imputation
sallie mae adjusts short term discount note rates
brazil finance minister meets french officials
canada march foreign reserves rise 123 billion us dlrs official
kleinwort benson kba unit sets first dividend
fees comprise 5 8 pct for management and underwriting including a 1 8 pct praecipuum and 1 1 4 pct for selling
this years sales of borden pasta by the 13 regional brands and the premium creamette brand distributed on a nearly national basis are expected to toal 285 mln dlrs it said
canada leading indicator up 04 pct in december after 04 pct november gain official
the payment date is may 7
norways trade deficit widened in february to 957 mln crowns from 80 mln crowns in january and 492 mln crowns in february last year the central bureau of statistics said
he said several ems member countries believed the ems would work better if central banks held each others currencies an issue of particular importance regarding west germany since the bundesbank holds only dollars in its foreign exchange reserves
net includes provision for losses and discounts of 704 mln vs 762 mln in qtr 1987 vs 1986 and 3157 mln vs 1617 mln in nine mths 1987 vs 1986
uk and germany lead attack on ec farm reforms
brown group bg debt downgraded by s p
rogers rog adopts rights plan
asian revaluations
senate wants japan semiconducter pact enforced
opoer shr profit 17 cts vs loss 96 cts oper net profit 2293000 vs loss 7110000 sales 1160 mln vs 1083 mln year oper shr loss 203 dlrs vs loss 212 dlrs oper net loss 138 mln vs loss 116 mln sales 4540 mln vs 4464 mln note net excludes gains from discontinued operations of 102 mln dlrs vs 1985000 dlrs in quarter and 4262000 dlrs vs 1320000 dlrs in year
yankee ynk swaps stock for debentures
asked about the angry reaction of the manila government which promptly said wednesday that it would demand a spread of 13 16 pct gonzalez said this was a matter between the philippines and the banks
its a 74 billion dlr price that shows opec has won the war and oil prices are not going to crack said prescott ball and turben analyst bruce lazier
kaneb energy kep may omit future payouts
conoco inc a subsidiary of dupont denemours dd said it raised the contract price it will pay for all grades of crude oil 50 cts a barrel effective yesterday
it is in the interest of all to work for the future
an interest rate swap occurs when two issuers usually acting through a bank middleman agree to accept each others interest payments on debt securities
enviropact viro to make acquisition
it would have no impact on earnings whatsoever he said
the commerce department said all canadian firms have begun to pay an agreed 15 pct surcharge on softwood shipped to us markets
tecsyn international inc said it terminated takeover discussions with a us based investors group after the group was unable to establish access to funds to complete the proposed transactions contrary to previous assurances
if a default does occur it would first quarter earnings by about five cts a share which would bring the banks in the lower level of the estimated range he added
ec rejects all free market wheat export offers at weekly tender traders
a spokesman said this means telecom will decide before the 16th whether or not to accept the proposed change
mitchell energy and development corp mnd payout
commercial international cmmc makes purchase
norcen previously reported 1986 earnings excluding a 201 mln dlr writeoff declined by 58 pct to 500 mln dlrs from 1197 mln dlrs in in 1985
baglini an observer at argentinas negotiations in new york with the steering committee for its 320 creditors banks told the radio del plata in a telephone interview that the banks were divided on the loan request
they pushed ahead with a recovery program without ensuring backing for their balance of payments position
mostly clear skies extended from the great lakes and ohio valley through the central appalachians to the central atlantic coast and new england
plenum publishing corp plen offering of 50 mln dlrs of convertible subordinated debentures due april 15 2007 through bear stearns and co inc
convergent technologies cvgto sees qtr loss
proceeds will be used for general purposes
the index showed a 04 pct drop in january
a british minister said he had given the japanese government a clear warning of sanctions against japanese companies if tokyo did not allow more access to its internal markets and it was clearly understood corporate affairs minister michael howard said on his return from a visit to japan he thought the japanese were beginning to appreciate the need to be fair and open about access to their own markets
kaufel group ltd kflto 4th qtr aug 31 net
weyerhaeuser said it sees significant increases in earnings in 1987
she clearly had japan in mind government sources said
covenant corp initial public offering of two mln shares of common stock including 1543916 being sold by current holders at an estimated 1100 to 1250 dlrs each through first boston corp
bsn corp said it holds less than five pct of macgregor sporting goods
seasonally adjusted its already december in the bond market quipped robert brusca of nikko securities co international inc
the dilemma is that if german interest rates rise too far they will attract funds into the country pushing up the mark and hurting west german exporters
the decrease in us earnings had been accentuated by tax rates but the group had increased share to become volume market leader holmes added
meanwhile high water at cologne has forced vessels to travel at reduced speed a water authority spokesman in cologne said
no names were given
the bundesbank did not intervene as the dollar was fixed lower at 18218 marks after 18243 yesterday dealers said
we have to reduce the transfer of resources brodersohn said adding that mounting economic strains in latin america make this a matter of urgency
this deal was rated a 2 by moodys and aa minus by standard and poors
the ec commission is to ask member states to agree either a tender system to fix reduced import levies for the maize or to authorise direct imports by the spanish intervention board
us senate panel makes conservation exemption
asked if brazil would have continued making payments of monthly interest to its foreign commercial bank lenders if official lending agencies had provided more funds he replied yes because our country did not receive financing from these agencies asked how long the payment suspension would last funaro said it all depends on what kind of financing we are going to receive from the other side brazil with foreign debt totaling 108 billion dlrs stunned the banking community last week by suspending payments on some 68 billion dlrs owed to private banks
trade interests ready for fight in us congress
it bought 45 mln stg of local authority bills plus 27 mln stg of bank bills in band one at 10 3 8 pct together with 94 mln stg of band two bank bills at 10 5 16 pct
to convert the debts a bank would have to find a borrower looking for a loan with a 10 year maturity and then negotiate individually the interest rates to be charged
a
the dollar is expected to try its psychological barrier of 15000 yen and to fall even below that level a senior dealer at one leading bank said
michigan general mgl gets offer commitments
david bryson of moss lawson and co also noted that british petroleum plc bp is mentioned as a possible buyer despite bps 70 us dlr per share bid two weeks ago for the 45 percent of standard oil co srd it does not already own
the redemption price will be 5263 dlrs a share declining to 50 dlrs a share on or after june 15 1997 plus accrued and unpaid dividends the underwriter said
the official was quoted as saying that lower output was the result of member countries firm determination to defend the organisations official price of 18 dlrs per barrel and to refrain from selling any quantity below that price the unnamed official was further quoted as saying that no opec meeting was foreseen before the next biannual opec session planned to start on june 25
stratus computer inc strao 3rd qtr net
its previous dividend payment was five cts on february 24
eighty pct of all the raw boneless rib chops evaluated in the study contained less than six pct fat the nppc said
he said the changes sought by the us would require loan approval by a greater majority of shares than a simple majority
it said the dollar is poised to resume its decline in foreign exchange markets and will lose a further 13 pct on its trade weighted index this year and five pct in 1988 after last years 184 pct drop
the fed previously said industrial production rose 04 pct in january
shr three cts vs one ct net 235000 vs 66000 revs 10 mln vs 8202000 avg shrs 7972000 vs 8545000
du plessis said 34 banks holding more than 70 pct of the frozen debt agreed to the new arrangement worked out with south african negotiators in london
the conversion price has been fixed at 30 5 8 dlrs compared with last nights close in the us of 25 1 2 dlrs
stockholder systems inc said it has agreed in principle to acquire privately held software concepts inc which provides software for check processing mortgage application processing and safe deposit box accounting for undisclosed terms
but oil analysts said if opec keeps group output close to its first half 1987 ceiling of 158 mln bpd supply and demand would be balanced by the end of the second quarter
beazer said it will use proceeds initially to reduce debt and then for acquisitions and capital spending
the company said the decision to use prebaked anode technolgy used at its grande baie quebec and sebree ky smelters was taken primarily for cost reasons
it traded at this level throughout the session down from yesterdays 614 pct average
in its latest annual report it said the us had promised to limit sales of tin in a memorandum of understanding signed with the six member association of southeast asian nations asean in december 1983
lawson products inc laws raises qtly payout
planting moved into mohave and pinal counties
the us transportation department has rejected twas application to acquire usair on deficiency grounds but twa has said it will file a revised application moodys noted
african mines takeover
kremlin leader mikhail gorbachev has described machine builing as a sector whose rapid modernization is essential if the soviet union is to compete effectively on world markets
consumer credit fell a seasonally adjusted 63 mln dlrs in march after rising 101 billion dlrs in february
the amount of treasury bills outstanding at year end was 697 billion dlrs an increase of 103 billion dlrs over the year and 20 billion dlrs since 1984
at this point we are lining up what we know we need to get the job done stevens said adding that the timing for repairs will depend on the damage to the pipeline which is difficult to assess because of flooding on the red river
cook also said it began preliminary talks with private investors looking to buy a stock position in order to provide cook with additional cash and assist its posture in its negotation with its banks
oper net excludes extraordinary gain of 875000 dlrs vs 284000 dlrs for qtr and 1053000 dlrs vs 462000 dlrs for 12 mths
the federal home mortgage corp announced the sale of 400 mln dlrs for residential mortgages to first union corps mortgage subsidiary
baker and volcker launched their in late 1985 calling on commercial and multilateral banks to increase loans to major debtors pursuing inflation free expansion and open markets
the situation was particularly bad in the central asian republic of kazakhstan which has been severely criticised since the ousting of its veteran leader dinmukhamed kunayev last december
in my view this would not only be a logical but also a most desireable development he said in a speech prepared for delivery to an economic forum at chapman college in orange calif
we are interested in more periodic ministerial involvement whether in formal or informal meetings he said
it would cost 150 mln dlrs to repair the pipelline which carries oil from jungle oil fields over the andes to balao a pacific ocean port
private exporters concluded advance weekly sales for 22086 tonnes against 44483 tonnes the previous week
orbit said it has reserves of 24 mln barrels of oil and natural gas liquids and 672 billion cubic feet of natural gas
shr 17 cts vs 13 cts net 7602000 vs 4879000 sales 1415 mln vs 713 mln avg shrs 450 mln vs 422 mln year shr 45 cts vs 32 cts net 195 mln vs 120 mln sales 3972 mln vs 1811 mln avg shrs 434 mln vs 382 mln note prior year net includes 2600000 dlr tax credit
goodrich said it is prepared to discuss with officials of the united rubber workers union severance benefits for affected employees and issues related to the continued operation in akron of the chemical and adhesives businesses and to the phaseout of the akron aircraft tire missile and marine and molded rubber products manufacturing
american telephone and telegraph co chairman james e
last week viacom reported fourth quarter earnings fell two two cts per share from 23 cts
it said the drop was expected because there will be a drawdown on stocks built up near the end of 1986
tribune trb completes cable system sale
the central bank has also lifted the restriction on the amount of foreign exchange loans which previously were limited to three times a banks capital equity
us japanese tension over the semiconductor trade has failed to subside despite recent efforts by japans ministry of international trade and industry miti to get japanese firms to abide by a bilateral pact aimed at halting predatory pricing and opening japans market
minority shareholders in the consortium include the gmf fnac group societe generale sgenpa editions mondiale the groupe bernard tapie financiere faltas banque indosuez and credit lyonnais crlppa the remaining 50 pct of tf1 is to be split between a 40 pct stake to be offered to the general public and a 10 pct stake to be offered to employees
shr loss four cts vs loss one ct net loss 413021 vs loss 163932 revs 600971 vs 665800
the feds actions on friday and today show that it is offering only token resistance to upward funds rate pressures said jones of lanston
this brings the total assistance by the bank so far today to 219 mln stg against a liquidity shortage it has estimated at around 300 mln stg
crushings in 1985 86 at 1053 vs 1053 last month
the telex could be sent to creditors as early as today bankers said
the engine room is flooded to about three metres
in the previous auction for 1000 billion yen four major japanese securities houses took 92 pct of the issue amount in an attempt to meet strong demand from large institutional investors securities managers said
crews hoped to restore traffic to the line later today after clearing the damaged train and repairing the tracks at chacapalca 225 km east of the capital lima
the banker said officials have stressed repeatedly over the past six weeks that chinas foreign borrowing will not be affected by a drive against bourgeois liberalism a phrase meaning western political ideas following the dismissal of communist party chief hu yaobang on january 16
the company acquired knox lumber co for about 243 mln dlrs in october 1986
the company said its stock will begin trading on a split basis on april 3 subject to regulatory approvals
oak industries said it signed a definitive agreement to buy the stock of rexnord incs railway maintenance equipment co unit for an undisclosed sum
but there are other two way deficits with canada west germany taiwan and south korea and reagan officials said the president is ready to fight them all
the legal commitment to maintain these credits runs out on march 31 and the worried talk at the inter american development bank annual meeting here is that some disgruntled bank will sue for repayment raising the specter of a cascade of lawsuits and tit for tat asset seizures
bat industries 1986 pretax profit 139 billion stg vs 117 billion
the release date is tentative in case there are snags in the catalogues preparation the spokesman said
china has no track record in the us bond market
lle royalty lrt sets monthly payout
board members were also instructed to keep confidential the terms of any transaction that might be entered into until it becomes final the company said
capital formation strengthened in february and slowed money supply growth to a larger extent than in january
shr 15 cts vs 11 cts net 900334 vs 482705 revs 287 mln vs 188 mln avg shrs 6195527 vs 4551105 shr 51 cts vs 31 cts net 2713912 vs 1402696 revs 987 mln vs 679 mln avg shrs 5369833 vs 4551105 note share adjusted for three for two stock split effecitive march 2 1987
a warrant gives the holder the right to purchase one share of lilly common at 7598 dlrs
jamesway jmy sets split higher cash payout
under the new rules a firm must be the book running lead manager during the two preceding years of 12 internationally distributed debt issues denominated in us dlrs or in one of eight other major currencies
generale occidentale sa subsidiary
they estimated the cost of repairing a damaged oil pipeline at 150 mln dlrs
the senate team next heads for the united arab emirates their last stop on a fact finding mission prompted by reagan administration plans to let half of kuwaits 22 tanker fleet fly the us flag
the payment date is april 30 and the warrants are exercisable from may 14 1987 until april 23 1992
the two week strike comes as brazil faces a debt crisis and is delaying exports badly needed to earn foreign exchange
iadb meeting ends with us isolated on reform
us officials said the japan livestock industry promotion corporation which regulates beef imports was forced to borrow from the fiscal 1987 quota earlier this year because the 1986 quota was exhausted and japanese beef prices were rising
aegon said annuities are subject to such strong personal investment influences that it should be accounted differently from the more traditional insurances
baker denies dollar target exists
after one year they will be redeemable at any time by the company at 25 dlrs a share plus accrued dividends
operating income derived from electric operations in the first three months of 1987 is estimated to be eight mln dlrs while the contribution from gas operations will be about 10 mln dlrs green said
following lower sugar crops in the past two years analysts said turkey needs to import sugar now if it is to continue filling these export contracts and may need to buy more
algoma central railway 4th qtr net
south korean wholesale prices up 02 pct in march
western which makes polystyrene foam and container products has net assets of 193 mln dlrs and reported a 1986 pre tax profit of 09 mln
the slight rise partly reflected the repayment last month of frances outstanding 1195 billion francs of debt owed to the european monetary cooperation fund fecom it also reflected a negative 314 mln franc position with frances exchange stabilisation fund after intervention purchases of 106 billion francs during may
in the year ended september 30 willms had revenues of about 15 mln dlrs
zambian currency falls at foreign exchange auction
it said it expected lower first quarter 1987 earnings because the money market cost of funds had increased narrowing net interest spreads somewhat it said the earnings projection was based on preliminary 1987 data
both sides cannot be winners he said
congressional ire is rising against the multinational development banks which make loans to help other countries produce goods in direct competition with beleagured us farmers and miners
ipco corp ihs regular dividend
lucht will continue to function as a unit of innovex innovex said
unicorp a management and investment holding company controlled by its chairman george mann said it sold 675900 purolator common shares on march 2 and 3 at 34782 and 34750 dlrs a share
shr 33 cts vs 28 cts net 3722000 vs 3103000 sales 330 mln vs 318 mln avg shrs 112 mln vs 111 mln 1st half shr 68 cts vs 58 cts net 7585000 vs 6346000 sales 659 mln vs 613 mln avg shrs 112 mln vs 110 mln note share adjusted for three for two october 1986 stock split
the notes were priced at 9963 pct to yield 843 pct and the debentures were priced at 9954 pct to yield 917 pct
the gazetted price for ppo rose to 8196600 ringgit per tonne from 7968604 a month earlier and that on cpo to 7110037 ringgit from 6178238
concord fabrics inc cis 3rd qtr oper net
the us administration has already distanced itself from the bill
the approval was the last regulatory clearance required for the transaction
shr profit one ct vs loss four cts net profit 53040 vs loss 255568 rev 2252246 vs 755605 six months shr profit three cts vs loss eight cts net profit 217884 vs loss 517538 rev 49 mln vs 16 mln note companys full name is chemfix technologies inc
higher energy prices were primarily responsible for the increase in february though they rose at a slower pace than they had in january the department said
and if the market starts regarding anything that comes out negatively then it means that the underlying sentiment is negative he said
he said he has no plans to change the company and that he bought the shares because he believed the stock was undervalued and would rise in the next six months
the lagging index which the cso says shows a turning point in the economy about a year after it happens was at 924 in january down from 925 in december and 930 a year earlier
usx x proved oil gas reserves fall in 1986
inkeys condoms will be sold in the us under the brand name carlton the exclusive distribution contract for the products runs for three years and is renewable for one year periods the company said
the expected drop in west german sales this year would be the result of the so called grey market for porsche cars he said
1st qtr ended september 26
french february inflation between 01 and 02 pct vs 09 pct in january official
colombia plans to maintain foreign borrowing at levels similar to the 1982 86 period during which it received a net 13 billion dlrs net of repayments finance minister cesar gaviria said
it is not in the best interests of the country to have more of the micro electronics business leaving the united states one of the pentagon officials who asked not to be identified told 
medium is now 1550 dlrs a barrel and heavy fuel is 1475 dlrs
i could see if things got really crazy that it might go for 175 dlrs per share said one arbitrager but he speculated it probably would not even be taken over for more than a price in the 160s
frances societe generale sgenpa bank which will be sold to the private sector in the second half of this year reported increased profits for last year
on wednesday 55 pct of the borrowing was accounted for by the money center banks with 30 pct by the large regionals and 15 pct by the smallest banks
results exclude business forms division which is to be sold
pork production in 1986 rose 83 pct to 11 mln tonnes due to the sharp rise in beef prices and is expected to remain at that level this year usda said
the unexpected order raises significant doubts about the quality of duquesnes regulatory support and financial prospects
the committee banks met briefly earlier today and decided that they needed more time in particular to consider a news report which quoted a reagan administration official as urging that the proposal be given serious consideration
another trader however described todays activity as business as usual adding that traders feel more secure because no liens can be put on texacos assets while it is in bankruptcy
february exports were still 354 pct above the 1522 billion dlrs recorded in the same month last year
that could be a financial blow to the system which has lost 46 billion dlrs in two years naylor and farm credit system officials have said
the facility is underwritten up to 75 mln dlrs at a maximum of 175 basis points over the london interbank offered rate
it raised the companys first mortgage bonds to aa from aa minus and sinking fund debentures to aa minus from a plus
hre properties hre cuts quarterly
james capels fellner noted that by being fiscally prudent lawson had kept open the possibility of an autumn election in that there would be no chickens coming home to roost richard jeffrey who favours the likelihood of a june election said it was important the chancellor had not gone for a budget aimed overtly at buying an election victory
pharmacia ab phab st 1986 year
pre tax profit 134 mln stg vs 759 mln
bp will make the final decision on the allotments broadly based on relationships rather than on the amounts offered
new harding group sets first payout since 1978
this would have the effect of lowering the world price maintaining domestic support levels and reducing the governments soybean inventory
we would like to see the aggregate for the oecd area comfortably exceeding three pct david henderson head of the oecds economics and statistics department said
qtr prior ended jan 17 1986 and included two more weeks than current qtr
it was a proposal which would lead to a substantial loss for brazil and which would be difficult for the country to recover he said
the rating agency also said georgia pacific benefitted from cost cutting and has reduced debt by 700 mln dlrs in the past five years
the leveraged buyout plan was for 1750 dlrs per share in cash and 250 dlrs in 13 1 2 pct cumulative preferred stock
rooney noted that norstar chairman peter kiernan is in his 60s while fleets terrence murray is in his late 40s
the payment date is march 31
twa sold four mln shares of usair believed to institutions wall street sources
this weeks rains have alleviated drought conditions in guangdong province the agency said
this treatment requires that the costs associated with the transaction be expanded rather than capitalized as an intangible asset the company said
chapman chpn in restructuring
more recently the rule was extended to cover farm and energy loans and senator bill bradley a new jersey democrat has suggested it should be extended to third world loans
the ramifications of this decision we believe go well beyond the affiliation of amoskeag and portsmouth savings bank said amoskeag chairman william s
prime minister margaret thatcher said on thursday that britain would not hesitate to use new powers contained in the financial services act 1986 and the banking bill to retaliate against countries that do not offer reciprocal market access
insider trading is currently not an offence in this country
he said revenue should not be raised by taxing the consumer and called the proposal repugnant
china trying to increase cotton output paper says
electromedics inc said it expects to take a 150000 dlr charge against first quarter results due to the conversion of debentures
qtly div 11 3 4 cts vs 11 3 4 cts prior pay march 27 record march 13
the national pork producers council nppc will receive almost 18 mln dlrs for use in the areas of food service consumer education and marketing
the japanese shareholders the overseas economic cooperation fund and 12 companies are to invest another 24 billion yen raising capitalisation to 147 billion yen
he said a number of favourable indicators such as high level of investment and a good climate for consumption meant a recovery could be expected while exports would pick up slightly during the course of the year
the company employs 2500 people
goodyear chairman robert e
interfinco sets 50 mln sfr five year convertible
e and b marine ebmi 4th qtr net edison nj april 3 shr loss 165 dlrs vs loss 24 cts net loss 3259000 vs loss 470000 revs 160 mln vs 9510000 12 mths shr loss 84 cts vs gain 63 cts net loss 1661000 vs gain 1301000 revs 805 mln vs 564 mln
theyre not beginners he said
pegasus gold pgulf starts milling in montana
shr 20 cts vs 20 cts prior qtr pay may 14 record april 30 note full name zenith national insurance corp
danish wholesale prices fall 05 pct in february
indonesian airliner crash kills 27 people
it said vboice systems has received a 3600000 dlr contract to provide flp communications of dallas with voicemail systems through service bureaus located throughout the us and has also contracted to provide voicemail systems and administration to m and s communications
i dont believe in chasing mirages maxwell said
buehrmanns board chairman adriaan overwater told reporters he expected 1987 turnover to grow more rapidly than in 1986 when net sales posted only a 44 pct rise to 34 billion guilders while profits were up 63 pct to 932 mln
the transportation and energy company would both gain entry into a profitable business and win cost control benefits he said
dim sa a hosiery manufacturer had 1985 sales of about 260 mln dlrs
thailands sugarcane output will fall to about 2355 mln tonnes in the 1986 87 november october season from 2409 mln in 1985 86 the agriculture ministry said
the office of finance federal home loan banks said it set rates on todays debt offering of 670 pct on its 111 billion dlr issue 710 pct on a 1065 billion dlr issue and 765 pct on a 375 mln dlr issue
proposed offerings recently filed with the sec
treasury balances at fed fell on april 9
usair said in light of the highly conditional nature and other terms of the twa offer the timing of the offer and the circumstances under which it was made usair group believes that the purpose of the twa offer is to interfere with usair groups proposed acquisition of piedmont
the bank of england said it revised down its estimate of the deficit in the system today to 400 mln stg from 450 mln
in addition analysts said the hazardous waste management business holds significant growth potential
us commercial paper falls 127 billion dlrs in feb 25 week fed says
the acquisitions appreciably develop and strengthen glynweds strategic position in the thermoplastic pipework systems market
northwest aluminum president brett wilcox who leased the 30 year old smelter from martin marietta corp said production would increase from around 45 tons a year at present to just over 70 tons
the company was commenting on 1986 results which showed pre tax profit rising to 549 mln stg from 334 mln previously on turnover that lifted to 170 billion from 113 billion
brazil plans new economic strategy for growth
the bank said the bonds would yield 928 pct at the issue price and would be free of tax to residents overseas
starrex links share price to assay speculation
the bank rate is set one quarter percentage point above the average yield on the weekly issue of 91 day treasury bills
may ma reports strong 1st qtr start
opecs failure to address the recent decline in oil prices remains a worrying factor however and on balance it appears that the market should be approached cautiously montagu said
itoh and co ltd cittt have decided to sell their combined 65 pct stake in indonesias pt triguna utama machinery industries to caterpillar tractor co spokesmen for the two japanese companies said
the department said outstanding wheat sales to china for the current season amount to 90000 tonnes and sales for delivery in the 1987 88 season amount to 910000 tonnes
tax 109 mln stg vs 105 mln making 468 mln vs 394 mln
we dont believe that the economy has tipped over but see it more as a growth dip seipp said
santa anita cos sar 4th qtr net
in a statement the bank of ireland noted that the us paper market will provide it with a new source of funding
wang said the trade surplus and the reserves weakened taiwans position in talks with washington over export quotas particularly for shoes textiles and machine tools which are among the islands main export earners
profits increased in bicc technologies and in bicc international in local currency terms while associated british cables had another excellent year the company said
siemen said it will dispute various matters in the financial statement issues and other matters it said
s p downgrades four texas banks affects combined 800 mln dlrs debt preferred
the fnv said the actual losses were nearer 17 to 20 mln and said the employers had inflated the figures as part of their plan to restructure completely the ports general cargo sector
mfs managed sectors trust dividend increased
the non callable bond is available in denominations of 1000 and 10000 australian dlrs and will be listed in luxembourg
inl chairman alan burnet said the purchase would enable the subsidiary to offer advertisers a combined distribution of nine community newspapers to 340000 homes in the greater houston area
he didnt say what he would or wouldnt do about it said ual senior vice president kurt stocker
finance minister palle simonsen said todays downgrading of denmarks credit rating by standard and poors corp should not be over dramatised
this meant btr nylexs 501 pct acceptance condition could not be met bwa said in a statement reporting its parents decision
volcker says reducing us budget deficit needed to improve trade balance
the agreement is subject to shareholders approval and other conditions
pay date is april 22
thomas and betts said the court upheld the may 26 1986 award plus interest to be paid by winchester electronics a division of litton systems inc which is a subsidiary of litton industries
periods ended january 31 net 1443000 vs 3539000 revs 7652 mln vs 6858 mln
it said teberebie goldfields has not conducted tests on the newly granted land but added the land seems to be similar in geological characteristics to the original land
hong kong international terminals operates 32 cranes
margoshes said the bp action is an articulation of the underlying value of oil companies in the marketplace but he expressed skepticism that this will necessarily lead to heightened merger or buyout activity in the oil group
chile achieved gross national product growth of five to six pct last year and quadrupled its trade surplus from 1984 despite lower prices of key commodity exports like copper
j henry schroder wagg and co ltd is co lead
qtly div three cts vs three cts prior pay april six record march 20
qtly div 17 1 4 cts vs 17 1 4 cts prior pay april 15 record march 31
laser photonics inc lazro 4th qtr dec 31
the department said the merchandise trade deficit for all of 1986 grew to 1477 billion from 1244 billion dlrs in 1985
as the expiration date of the 15 year contract is almost at the halfway mark farmers are beginning to worry about the future the china daily said in an editorial last month
the report was filed today with the securities and exchange commission along with a copy of chrysler corps c proposal to take over american motors
1986 year net includes charge 156000 dlrs from writeoff of seed commitments
alaska housing finance corp signed a 150 mln dlr revolving credit facility and a 150 mln dlr euro commercial paper program merrill lynch capital markets said
revenues from telephone operations rose eight pct to 29 billion dlrs
earlier japanese trust banking sources said the ministry had asked them to moderate their dollar sales
tennecos gas deliverability for example dropped by 20 pct during 1986 he said
norway is issuing a 60 billion yen eurobond due april 22 1992 paying 4 1 4 pct and priced at 101 5 8 pct lead manager nomura international ltd said
its major project will be a two year upgrading project on its mckee reinery in the panhandle at 90000 bpd rated capacity
this economist who declined to be named said the february rise was also partly explained by special factors in january when there had been a number of public holidays as well as extremely cold weather both of which hindered trade
gonzalez praised the committee for its cooperation in the latest negotiations and said the resulting deal which was announced by the banks on wednesday should put argentina on the road to meeting its economic goals
the capital increase is in effect a passport to the capital market he said
though amc issued a statement saying that it was studying the proposed buyout and had no other comment glantz said he regarded the proposal as a done deal because i cant believe anybody else would make a bid its a reasonable deal for both sides the analyst told 
baker urges banks to mull new ideas for cutting 3rd world debt burden
bank of england announces one billion stg tap
it said it issued the statement on sunday because a similar statement was being circulated to employees
it has given the market total assistance of 228 mln stg today compared with a liquidity shortage it estimated at a revised 300 mln stg
the management group includes banque paribas luxembourg kredietbank sa luxembourgeoise and banque de luxembourg sa
oil minister arne oeien said last month he expected norway would extend into 1988 its policy of slowed production growth
it did not give a specific 1987 profit forecast
canada february unemployment 96 pct
canada metal is a toronto based producer of lead alloys and engineered lead products
the two sides in the rotterdam port general cargo dispute have agreed to appoint an independent chairman han lammers to preside over future meetings employers spokesman gerard zeebregts said
such worldwide trading networks offer vast new investment opportunities but could strain the secs ability to enforce us securities laws and guard investors from fraud
this takes the banks total help so far today to 497 mln stg and compares with its forecast of a shortage in the system of around 700 mln stg which it earlier revised down from 800 mln
this was achieved despite a 25 pct drop in the dollars guilder value van driel said
april deliveries made 12750 and june 12950 stg per tonne basis liverpool
finance minister edouard balladur was quoted today as saying that french 1987 growth will probably be about two pct
but there was no sign that the prospect of more tit for tat assaults had reduced the level of shipping activity in the area
the central bank made outright purchases of bank bills comprising 34 mln stg in band one at 9 7 8 pct 39 mln stg in band two at 9 13 16 pct 51 mln stg in band three at 9 3 4 pct and 28 mln stg in band four at 9 11 16 pct
uk intervention board details ec sugar sales
separately panteras said it issued an area development agreement with a franchisee group for northeastern colorado including the denver area for the opening of about 20 franchised panteras pizza restaurants
williams also said the previously announced sale of its agrico chemical co unit to freeport mcmoran resource partners ltd has cleared antitrust review and should close next week
wilson brothers said it completed the sale of most of the assets of its enro shirt co inc enro at ease inc and foxcroft shirt ltd subsidiaries to enro acquisition corp for about 242 mln dlrs half in cash and half in subordinated promissory notes
the acting governor of saudi arabias state owned oil company petromin jamal hassan jawa has retired at his own request oil industry sources said
however the officials said the usdas figure of end 1987 88 stocks at 503 mln tonnes against 1986 87s 287 mln was not surprising given a record high yield forecast in april
the existing buffer stock of about 100000 tonnes of cocoa was frozen with a funds balance of 250 mln dlrs
continental said it operates and has under development 1943 nursing home beds and 404 residential health care beds
webb corp said its del e
temple inland inc tin 3rd qtr net
uk money market gets 25 mln stg late help
the issue will be listed in luxembourg
the company added that the acquisition will close june 30
sports carmaker dr
allegheny made the disclosure in documents filed with the sec in connection with its recent agreement to be taken private through a leveraged buyout led by first boston inc
aim telephones inc said it has sold three mln dlrs of nine pct seven year subordinated notes to principal shareholder quince associates the company said it has also issued quince seven year warrants to buy 500000 common shares at six dlrs each
non callable for two years the issue is rated b minus by standard and poors
bankers in the saudi capital said the need to build reserves for bad and doubtful debts may start to decline a little this year
the company said unit sales of american tobaccos lucky strike filter line rose 20 pct last year which led to a gain for he lucky franchise
the venezuelan central bank on june 17 suspended the licences of all 21 foreign exchange operators in the parallel market blaming their speculation for the constant rise in the value of the us dollar here
it said goldberg recently approached clark to repurchase the shares
white house says trade bill generally good
refineries abroad he said guarantee a refining outlet for venezuelan crude oil while ensuring stability of supply to refiners
on friday european currency dealers said european central banks annoyed at restrictive japanese trade practises might leave japan alone to intervene to staunch the rise of the yen
the increase in us banks prime rates prompted concern about renewed inflation but the strength of the us dollar discouraged new buying
philadelphia electric co pe shelf offering of up to 250 mln dlrs of first and refunding mortgage bonds
world recession unlikely deutsches herrhausen
transcanadas announcement came as a surprise since dome was waiting for responses from creditors on its proposed refinancing packages gobert said
the treasury declined comment on the figures
dow jones and co inc first quarter shr 69 cts vs 64 cts
icco executive director kobena erbynn was preparing the plan in consultation with other delegates for presentation to the full working group they added
imports last year rose sharply as gross domestic product grew by about 85 pct the highest economic growth level registered in 12 years
britain is considering how to retaliate against japans attempt to prevent cable and wireless from taking a major position in a japanese international telecommunications venture
the breakdown of the ico negotiations reflected a split between producers and consumers on how to set the yardstick for future quotas
standard logic inc stdl 1st qtr loss
stoltenberg says baker meeting underscores accord
in the leisure sector the group planned a joint development with club mediterranee cmipa club med of a 200 hectare pleasure park at puisaye in the yonne department of eastern central france he said
he made no mention of japanese interest rates
revs for qtr include non insurance revenues of 1627518 vs 1550329 and for year of 7289973 vs 4639162
shr 37 cts vs eight cts net 120 mln vs 51 mln revs 2801 mln vs 1559 mln backlog 6257 mln vs 4516 mln
these are currently frozen by an effective moratorium on repayments
one diplomat said the call for a report showed ministers were determined not to let the japanese question drop
shr loss 18 cts vs loss one ct net loss 1343000 vs loss 49000 revs 6778000 vs 1976000 year shr loss 67 cts vs loss ten cts net loss 4693000 vs loss 672000 revs 140 mln vs 7034000 note 1986 loss included one time loss of 3624000 dlrs on write off of certain silver oil and gas interests
analysts said it might be difficult for hutton to raise the offer since emery an overnight courier might have an easier time justifying a lofty price since it would realize cost savings by combining its business with those of purolator
bundesbank allocates 61 billion marks in tender
prior year net both periods excludes gain 1998000 dlrs from reversion of overfunded pension plans
it also bought 103 mln stg bank bills outright comprising 65 mln stg in band one at 9 7 8 pct and 38 mln stg in band two at 9 13 16 pct
we are sitting on a barrel of powder but fortunately it may still be wet he added
the farmers expect rain this week
exports to the united states for edible and non edible use account for about half of that total pcas romero said
he said bolivias commercial bank steering committee agreed at a meeting in new york to consider the proposal but it is still unclear what proportion of the countrys creditor banks will take up the offer
it also said it found a fairly direct relationship between the increased trade deficit and the influence of shifting currency exchange rates us economic growth and domestic demand for goods and services which has outpaced foreign consumer demand
usa outdoor advertising was acquired for 624 pct of the outstanding shares of info data inc the company said
domestic demand is now expected to make no contribution to australian economic growth in fiscal 1986 87 ending june 30 while net exports will account for all of the overall increase treasurer paul keating said here
other income rose to 251 mln dlrs from 220 mln dlrs last year
in addition one australian dollar bond was issued totaling 220 mln dlrs with a portion of interest and principal payments to be met in marks
the japanese the dominant foreign investors in us dollar securities have already sold us equities
it gained 26 mln new mouths to feed during the two years
usair group inc said its board has rejected trans world airlines incs offer to acquire usair for 52 dlrs per share in cash as grossly in adequate and not in the best interests of usair shareholders employees or passengers
japans agency of natural resources and energy said it will begin experiments with thailand at the end of march to start commercial production of rare metals in 1989 under a joint project
he did not mention this weeks intervention by central banks to support the dollar after markets decided to test the accord
the guaranteed notes will be redeemed may 15 at a redemption price of 1005 pct
raimond due here tomorrow from oman for his first official visit to the united arab emirates uae told the semi official daily al ittihad he was confident a solution would soon be reached
his plan would exempt existing secondary and tertiary wells that produce at a rate of less than three barrels a day for three years or until the price of oil reaches 25 a barrel
domestic production has dropped by one mln barrels a day because of cutbacks in drilling and it may drop by another one mln barrels a day in 1988
qtr ended feb 28 shr 17 cts vs 22 cts net 2041000 vs 3329000 revs 466 mln vs 489 mln nine mths shr 65 cts vs 82 cts net 9290000 vs 127 mln revs 1427 mln vs 1398 mln
quantum diagnostics ltd said it has been granted a patent for a new imaging technology it has developed that uses electrmagnetic radiation
heinz hofer of switzerland was elected executive committee chairman and mette mogstad of norway vice chairman they added
brunswick expects its recreation centers to benefit from increased attention to the sport of bowling resulting from acceptance in the 1988 summer olympics of bowling as an exhibition sport and as a medal sport in the 1991 pan american games he said
the index also gained 04 pct in the preceeding month
terms of the transaction were not disclosed
refinery crude runs in the four weeks were 1205 mln bpd up 15 pct from 1187 mln a year earlier it said
that meant around 290 marks which is the single most important rate to concentrate on and 160 dlrs lawson said
he did not elaborate
dune resources ltd dnlaf 4th qtr net
spot propane was unchanged while butane rose about 25 dlrs from last week traders said
the official said the increase reflected improved market conditions although he noted the new prices would still be lower than those of three years ago
current qtr and year figures include 29 mln dlr reserve for estimated loss from proposed divestment of one third of existing 40 offices
merrill mandated for iel us note
the company said it is optimistic it will recover in the second half and report higher earnings for full year fiscal 1987
shr loss four cts vs loss six cts net loss 92917 vs loss 104038 revs 219 mln vs 5091000
however countertrade deals still make up only a small part of indias total trading and are likely to account for less than eight pct of the estimated 1853 billion dlrs in trade during the nine months ended december the sources said
canadian bond rating service said that based on facts currently available on the proposed transaction it does not anticipate the necessity of a downgrade
a finance ministry spokesman said lower interest rates were needed but denied any suggestion of conflicting views between the ministry and the central bank
equity is distributed according to each members trading volume and as a result changes from year to year
moore medical corp mmd to make acquisition
rep
the institutes also criticised bonn for increasing subsidies at a time further reductions had been pledged
he said that the administrations longer term forecast envisioned that we will maintain and improve upon our progress in bringing down the rate of inflation
ideas include schemes to link debt payments to trade and proposals for stable interest rates
texas industries inc txi 3rd qtr feb 28 net
second round bidding began at the end of 1984 and only one well has so far produced results lufeng 13 1 1 250 km south east of shenzhen with an output of 6770 barrels a day
miyazawa was also quoted as saying that he is sceptical about the effectiveness of currency reference ranges even if major nations agree on such an idea as it is extremely difficult to set such ranges
the sources said the credibility of opec would come under fresh scrutiny from today monday with activity in the european and american markets the daily said
dutch seasonally adjusted unemployment rose in the month to end march to a total 693000 from 690600 at end february but was well down from 730100 at end march 1986 social affairs ministry figures show
grease monkey holding corp gmhc year nov 30
it did not say what the minimum will be
goodyear tire to receive 588 mln dlrs for goodyear aerospace from loral corp
after the announcement the companys stock retreated closing at 93 7 8 up 1 3 8
he estimated the bottling business might also be worth several dollars per share he said
de mel said a drought in sri lanka has helped control the spread of the disease
waves will build to 20 to 30 feet today and tonight and continue saturday
beebas will be the principal source of merchandise to the shops it said
the combination would incrase americans share of the us market to 154 pct from its current 147 pct the dot said
security capital scc suspends dividends
siemens ags siegf fully owned subsidiary siemens informations systems inc
the department said personal consumption expenditures were up during february by 17 pct or 491 billion dlrs to 28559 billion dlrs after falling by 584 billion dlrs or two pct in january
early dollar straight eurobond trade was quiet with currency sectors particularly eurosterling continuing to perform strongly closely reflecting current trading patterns on the foreign exchanges dealers said
qtly div five cts vs five cts prior pay march 31 record march 16
it said it expects to negotiate a firm order in may
in a filing with the securities and exchange commission harris said it sold 68000 bell common shares between dec 18 and feb 20 at prices ranging from 2025 to 2524 dlrs each
as of march 27 dixons group plc had acquired more than 80 pct the stock under an increased tender offer
he said the agency has not yet received a formal notice of the merger which would start the review process
shr 10 cts vs seven cts net 1541000 vs 1056000 revs 201 mln vs 170 mln 1st half shr 19 cts vs 11 cts net 2945000 vs 1742000 revs 382 mln vs 352 mln
he said both np energy and its unsecured creditors had request that a trustee be appointed
bank of tokyo issues convertible eurobond
italys cir plans convertible bond issues
proceeds will be used to finance the companys management led buyout from goodyear tire and rubber co gt the underwriter said
italian treasury offer has lower rates
bank analyst michael walsh at first marathon securities ltd said at least one canadian bank which he declined to identify wants to put the brazilian loans on a non performing basis and is trying to encourage the others to take that position canadian banks are owed about seven billion canadian dlrs by brazil which late last month suspended interest payments on its 68 billion us dlr foreign bank debt
in its weekly statistical bulletin the oil industry trade group said gasoline stocks rose 229 mln barrels to 24791 mln barrels from a revised 24562 mln and crude oil stocks were up 852 mln barrels to 33773 mln from a revised 32921 mln
the company said the modernization will allow the unit to regenerate catalysts on a continuous basis without shutdown
one important reason for this was the bourse turnover tax which was reducing the rate of return to the investors
if the stalemate continues much longer analysts expect the coffee agreement will end up operating without quotas for the remainder of its life to september 30 1989
the loan will first be in the form of a temporary global note and be replaced later by subscriptions of 1000 and 10000 ecus
they said producers agreed that cutting sales would aid the buffer stock manager of a new international cocoa pact in his effort to support prices
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
the us treasuries market here is swap driven said david jones vice president at goldman sachs and co international and head of its us government bond trading desk
wr grace gra berisford plan cocoa venture
the share figures are adjusted for a 2 for 1 split paid in january
all were in the mid 90s friday
hong kong banks leave interest rates unchanged
the group which has a slate of candidates seeking board seats said it would decide whether to submit an offer to acquire the company after the hbo annual shareholders meeting which was to have been april 30 but was postponed
mobil raises singapore petrol pump prices
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
he believes it is merely shading policy toward restraint now but to have a major impact on the dollar the fed will have to tighten policy overtly at some point jones expects the fed to foster higher market rates by becoming more restrictive in supplying reserves and within four to six weeks to raise its discount rate from 5 1 2 pct
tenneco is a gargantuan enterprise with seven billion dlrs in long term debt and preferred stock outstanding he said the buyer would also have to deal with the intractable problems tenneco faces with its farm equipment unit and energy businesses
breakwater is offering to exchange one breakwater share for each two shares of novamin the company said
entertainment marketing seeks to buy crazy eddie for eight dlrs a share
the us agriculture department detailed world supply demand data for major importers and exporters of soybean oil by country in mln tonnes argentina 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 010 010 010 010 production 077 077 073 073 imports nil nil nil nil domes use 010 010 011 011 exports 066 066 063 063 end stocks 010 010 010 010 brazil soybean oil in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 032 028 024 024 production 252 251 235 235 imports 015 015 012 012 domes use 200 200 194 198 exports 065 065 045 045 end stocks 034 028 032 028 ec 12 soybean oil in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 022 022 023 022 production 232 233 226 226 imports 044 044 050 050 domes use 146 145 138 138 exports 129 130 139 139 end stocks 023 023 022 022 india soybean oil 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 012 007 021 021 production 017 017 015 015 imports 035 035 025 025 domes use 052 052 049 054 exports nil nil nil nil end stocks 012 007 012 007
safrica expected to unveil expansionary budget
inelectra kellogg said is a major venezuelan engineering firm
the warrants are exercisable at par value currently 10 cts per share until march 20 1997
it quoted a world bank press release in shanghai as saying that the loan would help modernise 18 plants and research institutes owned by the shanghai machine tool works and the shanghai machine tool corp to import manufacturing technology and to develop training programmes for managers and engineers
indonesia to import palm oil fears may shortage
inspiration cuts copper price 050 ct to 74 cts
they said the five year issue which matures march 23 1992 carries a 705 pct coupon payable quarterly
earlier the company reported first quarter ended february 28 earnings of 15 mln dlrs or 23 cts a share up from 783000 dlrs or 12 cts a share in last years first quarter
soybean oil constitutes almost 30 pct of vegetable oil consumption while palm oil is the most traded the department said
he said bankamerica bac corp has had numerous inquiries from lenders who want to participate in a 225 billion dlr financing for the deal
minister of state for finance tom hockin said in the house of commons today he was delighted with the banks cut in its credit card rate
wall street stocks ich corp ich 
kuwait may re register gulf tankers newspaper
assets of us money funds fell 7024 mln dlrs in latest week to 23575 billion
there is still a clamour for the sharing of benefits different sectors claiming their rights and duties
silicon valley bancshares sets stock payout
atlantis said it bought its charter crellin common stock in open market transactions between september 22 and october 7 at 1491 dlrs to 1562 dlrs a share or for a total of about 151 mln dlrs
rates will be reset at three month libor plus 35 basis points for the shorter class and plus 60 basis points for the longer one
some might argue that the fed was firming policy but it looks like it tried to play catchup with reserve provisions late in the statement period and didnt quite make it said ward mccarthy of merrill lynch capital markets
one senior floor trader said the financial futures room badly needs renovating
the possibility that alcoa may be long call options is one factor indicating that supply tightness may worsen in the second quarter traders said
viacom international inc said the us district court for the southern district of new york denied the motion of carsey werner co for a temporary injunction to block the proposed merger of viacom with a subsidiary of national amusements inc carsey werner is the producer of the cosby show
magic years kidso to acquire three centers
the usda has to date reported ussr purchases of 26 mln tonnes of us corn for delivery in the current us ussr grain agreement year which ends this september 30 it said
in that case the excesses as we have today cannot be very popular the senior dealer said
about one third of that sum would be spent on export crops such as coffee tea rubber and pepper in the central highlands it said
potlatch corp pch 1st qtr net
i am confident that problems between the two big partners the gcc and the ec will find a solution
malaysia is launching a 100 mln swiss franc 5 3 4 pct 10 year notes issue priced at 1002 pct lead manager swiss bank corp said
transamericans bankruptcy proceedings began in 1983
james burke president of merrill lynch capital partners said we are very pleased to have entered into this transaction with borg warner
changes in loan rates will definitely be looked at for next years crop he said with the option of making soybean loans partially in cash and in certificates under consideration
the states of sao paulo parana and rio grande do sul had between them 70 pct of the nations capacity but were responsible for only 50 to 60 pct of production
the cutback will also help malaysia maintain prices as there is concern some buyers want to reduce term purchases due to the availability of cheaper alternatives the sources said
the officials met at the offices of the international monetary fund imf to discuss broad aspects of world monetary policy in preparation for the imfs interim committee meeting in washington in april
a house staff member involved in drafting the landmark 1986 immigration law who asked not to be identified said congress did not mean to extend special amnesty provisions to workers who helped cultivate tobacco and that inclusion of hops and spanish reeds was marginal in addition lawmakers made it clear during consideration of the bill that lumber workers were not to be covered by the the amnesty provisions making the inclusion of christmas trees a tough call this source said
additionally commerce secretary malcolm baldridge and other us officials have voiced reservations about the transaction since it was announced
total value of the sale is about 9772 mln dlrs transworld said
shr profit three cts vs loss two cts net profit 157500 vs loss 60200 revs 11 mln vs 10 mln nine months shr profit five cts vs profit six cts net profit 223400 vs profit 260800 revs 32 mln vs 31 mln
the wholesale price index rose 11 pct month on month in january 1987 after increasing by 03 pct in december 1986 the national statistics institute istat said
corrected lilly industrial coatings inc licia 
us treasury secretary james baker declined comment on the february 22 paris accord between the six major industrial nations under which they agreed to foster exchange rate stability
it said it plans to finance its stock purchases with borrowings from chemical bank morgan guaranty trust co of new york bankers trust co and salomon brothers holding co inc the parent of salmon brothers inc emerys financial advisor
the form of the buyout has not yet been determined and the buyout is subject to a nunber of conditions it said
it said the imports will be used to rebuild the federal reserves and as a result will not be subject to import surcharges
prices of wholesale finished energy goods in the united states were up in february rising by 40 pct after a 98 pct rise in january the labor department said
united healthcare corp unih 4th qtr net
but there are doubts about how well the baker initiative has worked and about the world banks success at bringing about increased growth in the third world under the us prescription which indicated that countries might grow their way out of their difficulty
a miti official said the ministry has conducted a survey of foreign exchange trading by trade houses and exporters
usda said the 0 92 option for 1987 winter wheat farmers would produce a net savings of about 30 mln dlrs while the requirement to compensate fully disaster struck farmers would cost about 135 mln dlrs which must be appropriated by congress
one banker said operating earnings in the kingdom are not good reflecting the caution in new lending the amount of advances is showing a declining trend while the days when banks had ample funds in interest free current accounts to invest are disappearing as saudi customers seek a better return on their money
mccarthy and stone gets 100 mln stg facility
currently it must be shut twice a year
in response to a question about banks volcker said he would be pleased if congress decided to give banks a tax writeoff as an incentive for them to take greater reserves against loans to debtor countries
canadian bashaw leduc oil and gas ltd said it agreed to merge with erskine resources ltd
six of the seven muscle cuts evaluated in the study averaged 43 pct fat or less well below american heart association guidelines for recommended foods
campbell red lake mines ltd 4th qtr shr 21 cts vs 10 cts
of jamaicas foreign debt of 33 billion dlrs only 12 pct is owed to commercial banks and seaga yesterday reaffirmed the governments policy of not seeking new bank loans
tankoku introduced in february 1986 were designed as a key short term instrument to promote internationalization of the yen
south africa this year is targeting inflation adjusted growth in gdp of three pct against an increase last year of less than one pct
edelman and dominion textiles inc
year ended december 31
consolidated attributable net profit of ste lyonnaise des eaux lyoepa is likely to rise by at least 10 pct this year from the 360 mln francs reported for 1986 chairman jerome monod told a news conference
freddie mac adjusts short term discount rates
vneshtorgbank the soviet foreign trade bank is seeking an increase to 250 mln stg from the original 150 mln for a five year sterling bankers acceptance facility arranged last autumn lloyds merchant bank ltd said as arranger
the company said its proven oil reserves were estimated at 605682 barrels on december 31 up from 186655 barrels a year earlier boosted by discoveries during the year put at 423659 barrels
non callable for two years the issue is rated bb by standard and poors corp
unilever declines comment on gillette bid rumours
after the tin market collapse in 1985 when the international tin council buffer stock ran out of funds cocoa delegates are anxious to install safeguards in the cocoa market mechanism they said
out of this traders in the uk received 43500 tonnes in the netherlands 12000 in denmark 4000 and in west germany 1000 tonnes
shr 132 dlrs vs 159 dlrs net 1217649 vs 1471824 total income 1896018 vs 2278642 nine mths shr 492 dlrs vs 538 dlrs net 4553380 vs 4979626 total income 6918266 vs 8134313
gurria said mexico hopes to close the books by the middle of april in time for a drawdown by the end of april
among the conditions are that santa fe enter into an agreement to indemnify kansas city for any contigent liabilites of southern pacific existing as of the closing date and that the financial condition of southern remain largely unchanged from today onward
turkey estimates 1986 growth at eight pct
this legislation requires a futures market to become a recognised investment exchange rie for trading to continue
the kansas city commodity credit corp office is preparing a wheat catalogue containing roughly 300 mln bushels scheduled to be released in the next two to three weeks a ccc spokesman said
the issue will have a mid term bond a bond due in about 10 years and a long term bond
ratings lowered include the companys senior debt to a minus from a and commercial paper to a 2 from a 1
the company said phoenix financial now has a 27 pct interest in data access and effective control
only about 10 vessels are being delayed but the bans will affect container terminal movements and will disrupt liner schedules they said
audi had predicted last year that 1986 profit would likely fall by an unspecified amount from 1985s record levels
duff phelps lowers delmarva power and light dew 
the previous agreement reached a year before but never implemented was for 12 1 2 years with a 1 1 8 pct spread
for example the last prime rate increase occurred in june 1984 when banks lifted the rate to 13 pct from 12 1 2 pct after a fed discount rate increase in april of that year
transamerica ta to buy sedgwick sdwkl unit
we consider the matter closed he said a signal the us administration did not want the gulf crisis to escalate
united savings and loan unsao 2nd qtr net
mem co inc mem declares qtly div
in february canadian energy minister marcel masse was invited to caracas for talks with hernandez on proposals for an oil import tax
last years fall in oil prices and the loss of investment tax credit under the tax reform act made the project uneconomical even with government price supports and loan guarantees unocal said
moodys investors service inc said it affirmed home shopping network incs 350 mln dlrs of ba 3 senior notes and b 2 convertible subordinated eurodebentures
it is guaranteed by the bank of nova scotia
yesterdays comment by baker that he stood by the paris accord did nothing to reverse sentiment dealers said
allis chalmers said a bankruptcy filing appears to represent the companys only alternative if agreement upon the terms of the plan cannot be reached the spokesman said in response to an inquiry that he was not aware of any extraordinary charge against earnings that would result from the restructuring
safety kleen an industrial automotive parts cleaning service said mckesson envirosystems has solvent recycling plants in illinois kentucky and puerto rico
the united states conducts no trade with nicaragua and very little trade with romania and paraguay
assuming the offering had occurred on jan
the ministry later approved the arrangement
a weakening dollar was mainly responsible for a five pct negative impact on sales during 1986 which the company blamed on currency movements
the dollar had tumbled nearly three pfennigs as the market reacted to bakers criticism of rising west german interest rates and stock markets crashed worldwide
after the merger breast centers shareholders would become the majority shareholders of the combined company
christiania bank og kreditkasse is issuing a 15 billion yen eurobond due march 31 1992 paying 7 1 2 pct and priced at 101 3 4 pct lead manager yamaichi international europe ltd said
toronto sun plans two for one stock split
however lyng said he did not want to make a definitive commitment one way or another at this point under the accord covering 1983 88 the soviets agreed to buy at least nine mln tonnes of us grain including four mln tonnes each of corn and wheat
king fahd has stamped his personal authority on opecs new found determination to defend prices in a move western diplomats believe underlines the kingdoms need to secure a stable source of income for its economy
enterra corp en sells two units
the chemlawn board has approved the tender and a merger at the same price that is to follow
japanese trade representative tsomu hata told an informal general agreement on tariffs and trade gatt meeting that in addition to demand boosting measures adopted last september a comprehensive economic program will be prepared after the 1987 88 budget is approved
on the subject of acquisitions richard munro chairman and chief executive said the company is not interested in investing in over the air broadcasting but continues to look at all areas in which it is currently engaged
it added australia should reduce protection levels in manufacturing even though faster trade liberalisation would no doubt hurt the most protected sectors of industry
medar mdxr acquires owens illinois oi unit
it said following the transaction the caisse will hold about 193 pct of cdc life sciences
1986 qtr and nine mths exclude 36 mln dlr gain on investment securities
shr profit 20 cts vs loss two cts net profit 2665000 vs loss 202000 revs 121 mln vs 5993000 year shr profit 35 cts vs loss 11 cts net profit 4653000 vs loss 1167000 revs 351 mln vs 180 mln note current qtr includes gain of 11 mln dlrs from tax benefit
parent company net banking earnings last year were also up at 139 billion francs compared with 1357 billion in 1985 while operating costs totalled 744 billion francs against 667 billion the previous year
its glasstite inc subsidiary also manufactures and sells utility truck bodies
lyng said he would not be conducting formal negotiations next month with japan over their beef and citrus quotas but that his visit may be a forerunner in a general way to talks prior to expiration of the bilateral agreement in march 1988
central banker janos fekete has said the finance ministry is trying to cut the 1987 shortfall to between 30 and 35 billion from a planned 438 billion
the agreement signed march 11 provides for the sale of about 75000 tonnes of wheat wheat flour worth 85 mln dlrs 15000 tonnes of corn sorghum worth 15 mln dlrs and 6000 tonnes of tallow worth 20 mln dlrs the department said
oper shr profit 21 cts vs loss 213 dlrs oper net profit 456000 vs loss 2454000 revs 163 mln vs 131 mln year oper shr 139 dlrs vs loss 241 dlrs oper net profit 1815000 vs loss 2779000 revs 580 mln vs 438 mln note 1986 4th qtr and yr oper net exclude realized investment gains of 279000 dlrs and 1013000 dlrs respectively which includes provision for income taxes of 238000 dlrs and 863000 dlrs for the periods respectively
the three units include 12 plants throughout the us the company said
the fact is that while there are ample supplies of coffee available at present there is a shortage of quality he said
lead zinc and silver mining and smelting operations incurred a net loss of 668 mln dlrs against a 381 mln loss in 1985 cra said
moodys cited reduced leverage a strengthened equity base and increased fixed charge coverage
storage problems with brazils record grain crop are likely to result in losses of about five mln tonnes an agriculture ministry spokesman said
in a speech prepared for delivery as the united states made plans to protect 11 kuwaiti oil tankers from iranian attack reagan said the american people were aware that it is not our interests alone that are being protected saying that allied dependence on gulf oil was no secret reagan declared during the upcoming summit in venice we will be discussing the common security interests shared by the western democracies in the mideast gulf
the bank of england said it provided the money market with late assistance of around 120 mln stg
m 3 money supply the governments key aggregate finished 1986 within the governments three to five pct growth target rising 46 pct compared with seven pct in 1985
bayliss a former economist with the reserve bank and the bank of new zealand said a major depreciation is needed to restore export competitiveness even if inflation is cut by current government policies
spot prices have fallen in recent weeks to more than one dlr below opec levels
japan us agriculture talks set for april 17 20
she said klm had started talks with vendex international nv vennas on their jointly owned courier service xp express parcel systems but declined to confirm an nrc handelsblad report saying it wanted to buy the vendex stake in xp
he is the first public official to be indicted for demanding money from wedtech a minority owned company that builds pontoon bridges for the defense department
feb 28 end shr profit 11 cts vs loss 37 cts net profit 3027000 vs loss 104 mln revs 223 mln vs 199 mln avg shrs 286 mln vs 290 mln nine mths shr profit 34 cts vs loss 22 cts net profit 9560000 vs loss 6072000 revs 719 mln vs 647 mln avg shrs 285 mln vs 279 mln note prior year net both periods after 152 mln dlr writeoff
singapores gross domestic product will grow six pct in the first quarter and five pct in the second quarter this year with further growth expected in the second half trade and industry minister lee hsien loong told parliament
it added that portugals current account was forecast to show a surplus of 400 mln dlrs this year compared with 113 billion in 1986 and 369 mln the previous year
supermac a privately held firm based in mountain view california as is scientific micro reported a net profit of 300000 dlrs on revenue of 95 mln dlrs in fiscal 1986
the government made net borrowings of 23 billion marks in 1986
shr 22 cts vs 24 cts net 2794000 vs 2993000 revs 914 mln vs 664 mln six mths shr 45 cts vs 39 cts net 5677000 vs 5700000 revs 1746 mln vs 1328 mln note 2nd qtr end august 31
energy and mines minister javier espinosa announced on television the country would cut domestic fuel sales by 30 pct
there is a 1 1 2 pct selling concession and two pct combined management and underwriting fee
no timetable was given
some diplomats believe iran could also consider carrying out reprisals against the united states outside the gulf
mexico was the dominant buyer for the current year followed by zaire italy and spain the department said
a spokesman for the institute said the declining value of the dollar and strong promotional efforts on the part of the california wine industry contributed significantly to the increased shipments
he forecast the chancellors budget tax cuts would increase consumer expediture on imported goods
he was speaking at the swearing in of c
day said the agreement is subject to the preparation and negotiation of a definitive agreement and the ability of the group to obtain financing
the price move follows a wave of increases initiated by sun co yesterday
the bank of england said it had revised its estimate of the shortage in the money market back to its initial forecast of 550 mln stg
hisham nazer who replaced yamani successfully led an opec engineered return to fixed oil prices of 18 dlrs a barrel last december
the preferred stock has a liquidation preference of 50 dlrs per share and is convertible at any time into common stock at 55 dlrs per share subject to adjustment
gpu gpu declares first dividend since 1979
many bond traders in tokyo are doubtful that sterling will further appreciate steeply
us said unfairly protecting defense industry
oper shr 19 cts vs 18 cts oper net 951902 vs 987860 revs 190 mln vs 171 mln six mths oper shr 26 cts vs 35 cts oper net 1332273 vs 2502868 revs 336 mln vs 292 mln note oper net excludes tax credits of 897925 dlrs vs 841511dlrs for qtr and 1306860 dlrs vs 2132073 dlrs for six mths
iran says it intends no threat to gulf shipping
the preussag world group made a net loss of 131 mln marks in 1985 after a net profit of 1545 mln the year before
traders said that over the past two weeks while trading in us treasuries has been almost frozen by indecision over the direction of interest rates swap related deals have provided the sole source of new business
there were at least another 20 dead inside the boat he added
the warrants will be exercisable between june 1 1987 and april 2 1992
thai coffee exports rise in 1986
finance minister dilson funaro has said an imf program for brazil adopted four years ago caused a recession and he believes another imf program would stifle growth
net charge offs totaled 156 mln brining the loan loss reserve at the end of the qtr to 1205 mln
shr loss 11 cts loss 739146 revs 11754251 note initial public listing december 1986
bancroft said the suit also names georgeson and co inc zicos information agent and luthie intercontinentale inc a panamanian corporation
aluminum co of america said it has signed a letter of intent to sell its american powdered metals co subsidiary to rw technology inc for undisclosed terms with completion expected in early may
canadian liquid plus short term assets rose 72 mln dlrs to 3647 billion dlrs and total canadian dollar major assets of the chartered banks rose 507 mln dlrs to 22422 billion dlrs
the g 7 reaffirmed that their currencies around current levels reflect economic fundamentals
uk money market given 728 mln stg early help
the company also said it has arranged a one mln dlr loan secured by its fort lauderdale fla property from republic bank for savings of jackson miss and has sold its peter pan restaurant in urbana md for 1100000 dlrs
equatorial said the fourth quarter operating results will also include restructuring costs of about 5500000 dlrs in addition to the 45 mln dlr charge
the firm will redeem the debentures with funds generated from operations
the payment date is march 31
for the six months following july 1 1986 when the venture officially started production highland valley had total ore milled of 226 mln short tons grading an average of 041 pct copper townson said
following its tender offer in november 1986 sb holding holds 552 pct of vernitron a maker of electromechanical components and related products and services
isco inc isko 2nd qtr ends jan 30 net
they compare with 785800 tonnes of oilcake and meal and 407400 tonnes of crude vegetable oil produced in 1985
coconut product sales earned 4454 mln dlrs compared with 4530 mln in december and 4909 mln a year earlier
strawbridge strw declares stock dividend
people who follow santa fe have given me values of 45 dlrs to 50 dlrs a share said dlj securities hassenberg
period ended jan 31 shr loss 89 cts vs loss 82 cts net loss 5187000 vs loss 5362000 revs 1284 mln vs 503 mln six mths shr loss 127 dlrs vs loss 104 dlrs net loss 7015000 vs loss 6790000 revs 2647 mln vs 973 mln note full name is great american management and investment inc
what we do know is that a substantial exchange rate adjustment has already been made he said
dow chemical co said it will issue 100 mln new zealand dollar denominated bonds worth approximately 56 mln us dlrs at current exchange rates
american motors board will consider the chrysler bid again this friday at a regularly scheduled board meeting
seton sel gets buyout offer from chairman
the statement said the issue followed up the 1986 tender issuance involving the first non restricted or free shares which can be held by aliens
the steinberg group said it bought the stock for 175 mln dlrs in open market purchases between april 13 and may 19 at prices ranging from 13625 to 142661 dlrs a share
since the last ministerial meeting there have been some advances such as mexicos growth oriented 77 billion dlr loan and refinancing package agreed last september
the sources said they expect no break in the harvesting of beans between the end of the temporao and the beginning of the main crop which officially starts on october 1
pretax profits also dipped to 6017 mln stg after 6144 mln
sudan has an annual debt liability of nearly 900 mln dlrs but set aside only some 200 mln dlrs to service debts in the fiscal year ending next june 30
austrian current surplus grows in four months
italys consumer price index rose 04 pct in february compared with january after rising 06 pct in january over december the national statistics institute istat said
bank of japan satisfied with yen at current range
they declined to disclose details because two or three representatives on the panel have still to obtain the approval of their senior management for the new terms
he estimated supply in the latter month will have fallen 100000 to 150000 tonnes based in part on current low inventories of aluminium in japan and on the london metal exchange
creditanstalt bankverein cabvvi the largest commercial bank in austria has arranged a 100 mln stg certificate of deposit program banking sources said
united illuminating co uil two months feb 28
uk money market given 10 mln stg late assistance
the restructuring touched off a flurry of friendly and hostile takeover attempts
under the agreement psa crew controllers received assurances they will be provided with labor protective provisions and a seniority integration process
the european community launched an investigation into allegations of dumping by japanese semiconductor makers in a move which diplomats said could mark an intensification of world trade strains
allied signal said commerzbank is expected to offer shares of the unit to the public later this year
rb industries rbi completes store sales
it said the venture received grants and incentives from the government of thailand
turkeys domestic banks also partly missed out on the export drive as foreign banks moved into istanbul and reaped the benefits of trade finance with their added expertise
panama canal official confirms no 1988 toll rise
it said that 64 of bps relationship banks will be joining the facility although their participations will be cut back dramatically
allied signal ald completes sale of mpb corp
union votes to strike dakota city ibp plant
26 weeks ended dec 28 net shr 259 cents vs 282 int div 55 cents vs 50 pre tax 4830 mln dlrs vs 4429 mln net 2594 mln vs 2535 mln turnover 45328 mln vs 40735 mln other income 448 mln vs 318 mln shrs 100 mln vs 90 mln
honeywell bull said it will continue to develop its product line and build its business in integrated systems for networking database management and transaction processing
the cattle are for delivery during march june 1987 it said
us scientists said some tropical vegetable oils can be hazardous to consumers whose health is at risk because of high levels of saturated fat lending weight to a campaign by the american soybean association asa for labelling changes
the warrants are exercisable from may 20 1987 until april 20 1992
cornerstone finanical corp cstn sets payout
oates will be president and chief executive officer
canadas softwood lumber will become unprofitable for some forest product producers if prices decline to about 175 us dlrs per thousand board feet of two by four inch lumber from current levels of about 195 us dlrs canadian forest industry council chairman adam zimmerman told reporters
the company said the portfolio accessed by checks is similar to chases advantage credit product
the death of the worlds tropical rain forests could trigger a new debt crisis and social and biological disasters scientists and ecologists involved with the international tropical timber organisation itto said
durables manufacturing increased to 768 pct last month from 763 pct in january the fed said
a miti official said that while japan is faithfully abiding by the agreement problems remain in halting the sale of microchips in europe and southeast asia at prices below those set by the pact
suharto has also ordered a government committee to look into which of indonesias 215 state run companies could be sold
australia expects rise in meat exports to mideast
the weight of opinion is that in a year from now there is a higher probability there will be one pct higher than one pct lower interest rates he said
chris craft industies inc said it declared a regular two pct stock dividend on both its common stock and class b common stock which is equal the two pct stock dividends the company paid for the prior quarter
cpl real estate cntrs cuts regular payout
german banks do not report full operating profit
tenneco inc said tennessee gas pipeline co its largest interstate natural gas pipeline will transport natural gas under the open access rules of the federal energy regulatory commission ferc
coffee producing countries must quickly map out a fresh common strategy following the failure of the international coffee organization ico to reach agreement on export quotas gilberto arango president of colombias private coffee exporters association said
present loan rates are 228 dlrs for wheat 192 for corn and effectively 456 for soybeans
government securities outstanding rose 109 billion dlrs to 22642 billion dlrs in week ended april 1 treasury bills rose 135 billion dlrs to 7695 billion dlrs and canada savings bonds fell 47 mln dlrs to 4387 billion dlrs
an expansion of 0 92 to feedgrains was opposed in last weeks subcommittee hearing on the bill with subcommittee chairman dan glickman d kan saying that more study of the consequences of decoupling on feedgrains plantings was necessary
asarco inc said it made a public offering of 3500000 shares of its common stock today through an underwriting group led by the first boston corp
the bank of england said it had provided the money market with early assistance of 689 mln stg in response to an early round of bill offers from the discount houses
japan consumer prices fall 04 pct in january
in december 1986 catena sold its share in the stockbroking firm jacobson och ponsbach fondkommission ab
qtly div 30 cts vs 30 cts prior pay april 30 record april 15
in the past month the rupiah has fallen five pct against the yen
the plant to be located at the alligator ridge mine near ely nev will process 1000 tons a day of carbon bearing ore to recover 70000 ounces of gold over three years it said
dollar general corp dolr 4th qtr net
odyssey filmpartners ltd said is terminated discussions to acquire united color labs pursuant to a jan 27 letter of intent for it to buy the company for stock and cash
the parent companys net profit rose to 6666 mln francs from 5929 mln in 1985 and the company planned an unchanged dividend of 145 francs per share and 29 francs per certificate after placing 170 mln francs in reserves against 95 mln last year
ec ministers agree need for big steel closures
cocoa council agrees new buffer stock rules delegates
fairly active grain fixing emerged out of the continent however with maize covered from nantes to egypt at 15 dlrs and bagged flour from greece to china at 27 dlrs
brierley offer for progressive still valid
jardine matheson replaces b share by bonus issue
continuing care associates conc 4th qtr net
spotty germination and winterkill in those fields averaged 10 to 30 pct it said
amoskeag co amos sets quarterly
y rough equivalent
in january 1986 wholesale prices were 39 pct lower than a year earlier
the us treasury said it will auction 17 billion dlrs of 9 day and 20 day cash management bills on april 2
mead said proceeds will be used to retire short term debt a portion of which was incurred to finance part of the recent acquisitions of ampad corp and zellerbach distribution group
the industrys outlook for 1987 is positive but not robust texaco canada said in its annual report
north west telecom nowt 4th qtr oper net
the stock holding banks will draw up a list of such loans
1986 and 1985 reflects preferred stock dividend requirements
shr 46 cts vs 49 cts net 1101551 vs 831398 note share adjusted for two for one stock split in may 1986
us house panel takes first trade bill votes
growers have harvested between 15 and 18 pct of total planted area up from seven to nine pct a week ago
he estimated that debt equity conversion plans accounted for 25 billion dlrs last year in four of the regions major debtor states
the issue of shares in the new york based holmes is conditional upon shareholder approval at a general meeting
desotos industrial chemical operations are based in fort worth texas and has annual sales of about 17 mln dlrs
bankers trust in new york said it would be premature to make a decision
trade surplus cut would benefit japan sumita
us steelmakers union seek renewed import curb
the previously announced float of part of its delhi interest will not now proceed csr said in the statement
the company said results of balloting on a new collective bargaining agreement proposal in its seattle division are expected to be tabulated at the close of business tomorrow
rockwell international rok sells 10 year notes
after an extraordinary expense associated with the december 1986 withdrawal of a planned common share offering we expect to be modestly profitable for the year but below the 410000 dlrs earned in fiscal 1986 the company said
the paper said the proposed rules would not cover spot foreign exchange contracts and securities traded in futures and options exchanges
its draught was 36 feet
each warrant entitles the holder to acquire one non cancellable share certificate
bulgaria romania grain crop seen less favorable
the debt problem is not solved
the bank in its latest quarterly review said the nominal growth rate for the year did not quite reach one pct after a 15 pct contraction in 1985
northgate quebec gold workers end strike
we think that in the third or fourth quarter after the merger we should see something close to breakeven he said
shr profit four cts vs loss one cts net profit 172000 vs loss 180000 revs 42 mln vs 883000 six months shr profit nine cts vs loss four cts net profit 315000 vs loss 107000 revs 74 mln vs 18 mln avg shrs 44 mln vs 26 mln
it had 165 mln outstanding prior to the offering
the experts prediction for economic growth this year of between 1 1 2 and two pct is a slight downward revision from a forecast made last november when two pct growth was forecast
including the tax the one ounce coins traded today at 906 marks they said
the bank is the first to lower its prime rate below the 18 pct set by a few banks in the last few days in a continuation of a downward trend which began late last month
cheyenne said the purchase price would be paid in common stock and it would provide additional finances for the operation of fa
avery avy 1st qtr feb 28 net
m 1 a which is m 1 plus daily interest chequable and non personal deposits fell 131 billion dlrs to 7539 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposit fell 101 billion dlrs to 17770 billion dlrs
the first two billion franc tranche at a fixed rate of 890 pct is led by credit lyonnais banque indosuez and union de garantie et de placement with credit lyonnais as book runner
i have no knowledge and i really dont think anyone other than the soviets have any knowledge lyng said he thought the soviets bought us corn last month because they needed it and because the price was right our corn has been pretty reasonably priced
behind the dispute was a us attempt to radically change the direction of the bank which has lent 35 billion dlrs to latin america in its 28 years and give it a bigger role in the current debt strategy with increased lending but more stringent conditions attached
the offer is based on eight new a non voting ordinary shares in gus plus 9516 stg for every 100 ordinary pantherella
the two acquisitions fit with a larger move by us companies embroiled in a take over or restructuring to sell off their canadian units to generate ready cash said nesbitt thomson deacon inc analyst harold wolkin
the united states and a group of other industrial nations on thursday granted argentina a 500 mln dlr bridge loan
we expect to shift our company toward higher value added businesses and continue to broaden our base henderson told reporters at an informal meeting here
the plan to sell part of shearson to nippon life must be approved by the american express board and japans ministry of finance
dixons on friday extended the expiration time of its tender offer until midnight est march 24
the bill which passed by a voice vote would allow so called findley payments to be made immediately rather than late this year
the unit makes custom gears for industrial use and had sales of 84 mln dlrs in its oct
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
the al rai al aam newspaper quoted him as saying opec was pumping 24 mln barrels per day bpd less than its 158 mln bpd ceiling while consumers were drawing down their petroleum stocks at a rate of 45 mln bpd
it will also constrain the ability of the exchange fund in its money market operations he added
a cut of about half a percentage point in dutch official interest rates is still in prospect although economists said the timing would depend on bundesbank moves
earlier the central bank had estimated the deficit in the system today at some 450 mln stg
certainly it would be more difficult to maintain exchange rate stability if countries are seen not to implement their commitments in paris in this respect he said the us budget deficit was very important noting the 6000 billion yen economic package announced by japanese prime minister yasuhiro nakasone last week lawson said what is really needed in japan is an increase in merchandise imports
however staple foods such as bread sugar and maize meal were not affected by the cuts and many people said this could provoke trouble from disgruntled elements who had expected more sweeping reductions
union planters corp said it has received regulatory approvals for its previously announced acquisitions of borc financial corp and first citizens bank of hohenwald and approval of its acquisition of merchants state holding co is expected within 10 days
helen of troy hele files convertible offering
holder plans to issue 32 mln common shares to buy the nashville based companies all of which are owned by jack norman and joe shaw their families and employees
should texaco fail to place the bond pennzoil could begin to attach its assets to secure the judgment
federal funds which averaged 622 pct yesterday opened at six pct and remained there in early trading
the report published today by an economic monthly the peru report said the success of president alan garcias government in stimulating output last year to achieve eight pct gross domestic product growth represents gains in the short term at the expense of the long government officials had no immediate comment on the report which advised a reduction in the overall size of the public investment programme and greater emphasis on the preservation of perus export potential
laclede steel co lcldo 3rd qtr net
lone star industries lce promisary notes
unocal said it raised its postings for crude oil by 50 cts a barrel effective june 17
as previously reported the region has been undergoing a severe dry spell partly relieved by scattered rainfall since december following the virtual failure of the summer wet season
commonwealty realty crtyz bay bay end talks
venezuelas biggest private sector company la electricidad de caracas will meet urgently with bank creditors in new york on monday to discuss the danger of a total default on its 622 mln dlr foreign debt a company spokesman said
senate banking committee chairman william proxmire called for curbs of hostile corporate takeovers and new restrictions on risk arbitrageurs
the latest ec authorisation will add 70000 tonnes at the april 14 tender and a further 30000 tonnes later in the month
cole who has been chairman of sears roebuck and co incs s coldwell banker residential affiliates inc unit
in a statement released by its london office minpeco said peruvian customs figures for bismuth exports for the first five months were 5748 tonnes compared with 1607 tonnes in the same period of 1986 and 4834 tonnes during the whole of 1986 minpeco said
e d and f man and woodhouse drake and carey both said they sold single cargoes at 23735 dlrs a tonne cif for april may and were granted options to sell an extra cargo each at the same price for may june at the indian buying tender for three to four cargoes of whites held yesterday
shell uk ltd year 1986
glenn and warner said the us britain and france should explore the possibility of a unified gulf force
qtrly div 96 cts vs 90 cts pay may one 1987 record march 31 1987
the series of strikes which employers say has cost them more than seven mln guilders in lost import business in the past six weeks began on january 19 in protest at plans for 800 redundancies from the sectors 4000 workforce starting with 350 this year
money market analysts said the positive trade news touched off a modest rally in the canadian dollar which rose to 7685 us cts on north american markets early this morning after closing at 7658 cts wednesday
colonial bancgroup inc clbga 1st qtr net
the issue will raise 106 mln stg which will be used for further development of the holmes business
the foreign firms amoco occidental petroleum corp oxy mobil corp mob and a unit of ente nazionale idrocarburi are working in partnership with the national military office for strategic industries omnis roland ratsimandresy the director general of omnis said at a ceremenony to sign the extension of the amoco agreement that his department would intensify oil exploration with its existing partners and would soon offer a new round of exploration licences
the strike began at midnight to press demands for higher wages and more funds for the nationalised mining industry
the suit contends that this fee hampers alleghenys ability to attract other offers or take other actions that would benefit holders of preferred stock
the deposit for spread contracts will be similarly cut to 150 stg for a one 10 tonne lot from 200 previously he said
salomon analyst david sutliff said in a statement he sees 1988 earnings of 335 dlrs a share up from an earlier forecast of three dlrs for the year
but futures markets will never take root unless they are backed by substantial liquidity in cash bond markets dealers said
burlington has not responded to the new samjens offer
it will also put 310 mln dlrs in brazilian loans on a cash basis resulting in interest reversals of 10 mln dlrs
southwest airlines cos transtar airlines said it will add new flights and increase service to several cities including los angeles
he said the cut to 35 from seven pct was approved by the cabinet yesterday and would go into effect within a week
midwestern weather has been so mild that barges probably could have kept loading at mid mississippi river terminals through the winter if lock and dam 20 had not been scheduled for repairs he said
group boosts gelco gel stake to 82 pct
currency in active circulation rose to 542 billion dlrs from 503 billion in december and 484 billion a year ago
federal paper fbo offers preferential shares
retaliation was also called for by the semiconductor industry and its chief trade union both hard hit by japanese semiconductor trade
there is already evidence that the water level is dropping and it appears the rain has stopped in the area affecting the pipeline stevens said
venezuelan energy minister arturo hernandez grisanti said he foresaw market stability in the price of crude despite growing tension in the gulf augmented by the us military attack on an iranian oil platform
were considering it he said its one of those dinosaur laws and i think its time has come the second figure which would always be lower by deducting freight and insurance presents the deficit in a more favorable light for the reagan administration
american express co climbed 2 1 2 to 80 1 8 on rumors the company was about to announce an agreement to sell 10 pct of its shearson lehman brothers unit to nippon blife insurance of japan traders said
in a registration statement filed with the securities and exchange commission gould said the shares will be convertible at any time into gould common
us march non farm payroll employment rose 164000 less than the gain of 220000 to 290000 the financial markets expected
it said the debt was part of a 3390 billion franc liability incurred through the activation of emcf swap facilities to defend the franc before the january 11 european monetary system realignment
brown and sons inc subsidiary is lead underwriter
from april 1 they predict the unconditional call rate will fall to 35000 pct from 37500 pct today and the one month commercial bill discount rate to drop to 37500 pct from 40635 pct
gasper said he sees a new drilling cycle emerging that could last until 1992 and that he expects the average rig count to peak near 2000 in december of 1989
reserve assets are held in gold special drawing rights with the internatinal monetary fund foreign currencies and in a us reserve position in the imf
ho said the cuts may come into effect by the end of next month
the usda will have to bite the bullet one way or another usda can dodge and dart around it the soybean loan as much as they want but they have to eventually address this problem david haggard asa president told 
one us bank trader said it could have been up to 500 mln dlrs but said this was largely a guess
ccr video sayst received offer to negotiate a takeover by intercep investment corp
ameron inc said its board adopted a rights plan designed to protect shareholders from potentially unfair takeover tactics
it said management expects to recommend to the board that the dividend rate be maintained in 1987
travelers realty income investors 1st qtr net
he added the xj 6 had also to compete with us luxury car producers which would restrict the cars price
now the situation appears much less severe elton said
us gold eagle sales projected at 31 mln ounces
shr profit 12 cts vs loss 49 cts net profit 117000 vs loss 506000 revs 11 mln vs 12 mln year shr profit seven cts vs loss 89 cts net profit 66000 vs loss 921000 revs 44 mln vs 39 mln note1986 reflects tax benefit of 24000
the fitness inc said it agreed to buy livingwell incs manufacturing unit powercise international inc for 110 mln the fitness shares valued at about 30 mln dlrs
the bank of england said it had revised its estimate of the deficit in the money market today up to a record two billion stg before taking account of its morning operations from 185 billion at midday
the dollar is near appropriate levels against european currencies and the yen and a further fall could damage confidence in the currency while endangering world economic growth a top bundesbank official said
non callable for two years the issue is rated ba 3 by moodys investors and b minus by standard and poors
miles laboratories inc 4th qtr net
raw sugar futures had a quiet opening call of 38 lots with prices holding steady from last night with gains of 20 to 80 cents a tonne dealers said
total loans and advances extended by banks in singapore rose in january to 3601 billion singapore dlrs from 3579 billion in december but fell from 3693 billion a year ago the monetary authority of singapore said
terms were not disclosed
united medical um to amend covenants
this is the minimum prevailing level in the ec and there is no reason why we should lag behind countries like italy which have a similar productive structure he said
the officials said the borrower opted to raise funds in dollars despite the currencys weakness because it is the only market deep enough to accommodate an issue of that size
national westminster bank plc nwbll led the way this morning after the bank of england lowered its dealing rates in a signal that it would tolerate a half percentage point reduction
the international monetary fund said it approved 1259 mln sdrs to assist development in jamaica
the latest deregulation measures were welcomed by most bankers in contrast to rulings issued earlier this month which imposed a 19 pct reserve requirement on new convertible peseta funds held by banks and freed short term deposit rates
french industry is failing to produce the goods its markets need and its loss of competitiveness has left the government little room for manoeuvre to reflate the economy the organisation for economic cooperation and development said
after the usda released its report of cattle on feed in seven states as of march 1 cattle futures on the chicago mercantile exchange yesterday rose sharply
natural gas exports plunged 194 pct to 2109 billion cubic meters while canadian sales slipped 41 pct to 4809 billion cubic meters
edouard kouame ivorian delegate to the international cocoa organization icco was chosen executive director of the icco effective october 1 icco officials said
yugoslavia failed to make a principal repayment due last month which had already been postponed by 90 days
at year end the company said it was operating 188 oshmans stores and 27 abercrombie and fitch stores
berger asserted that brazil is doing its own politicking by talking to us regulators and trying to drive a wedge between us and european banks
qtly div 44 cts vs 44 cts prior pay june one record may eight
the central bank bought a moderate amount of dollars to prevent its decline amid bearish sentiment for the us currency they said
jannock acquires 50 pct of intercon security
hong kong firm has 51 pct of mcgill mgllo 
new generation products inc said it has acquired a 20 pct ownership in personal protection technolgies inc new generation said personal protection is developing a group of personal care products which are effective in killing a variety of viruses and bacteria on contact for us and export markets
stone container sto forms credit facility
the rest are in government treasury bills certificates of deposit and bonds
us crude oil prices rose above 18 dlrs a barrel this week and industry analysts said the price could rise another dollar as inventories fall
woolworth closed on froday at 833p
computer horizons corp said it purchased computerknowledge inc a software training education company headquartered in dallas
the pipeline which carries oil for turkey and other customers from iraqs kirkuk field to the yumurtalik terminal on the turkish mediterranean coast is iraqs main oil outlet
british package courier interlink express plc does not plan to bid for the whole or part of purolator courier corp pccn a spokesman said
since then the trend has been down
as prices and demand improve we are poised to accelerate capital spending on our inventory of attractive opportunities amoco previously announced a 1987 capital spending budget of 32 billion dlrs
phillips petroleum p expects to begin marketing the new 89 octane unleaded gasoline in may sources said
overwater said he was optimistic about 1987 prospects but said he would await first quarter results before quantifying growth expectations
the cut backs in japanese production are expected to benefit us chip makers
on oil prices lawson said he was sticking to his earlier assumption that north sea crude prices will average 15 dlrs per barrel in calendar 1987
lucky stores says it and investor edelman reached standstill agreement
stora close to completing papyrus takeover
original capital cost of the mine was 575 mln dlrs but came in at 515 mln dlrs the company said
the statement added that the threat to free and safe navigation had increased after the missile attack on a us flagged tanker in kuwaiti territorial waters last friday
grain reserve holdings usda
usg maracaibo 10000 mt wheat three grades three days 1000 1 15 4
phelps dodge corp said it is calling for redemption on may one all of its five dlr convertible exchangeable preference shares at 5350 dlrs per share
norwegian central bank reserves fall in january
imports by volume were forecast to grow 10 pct this year and exports four pct compared with increases of 165 pct and 66 pct respectively in 1986 the bank said
fifth third bancorp and c and h bancorp said they reached a preliminary agreement to merge
laurentian group sees higher share net
international fine foods makes acquisition
asamera inc said it will transfer all its mineral interests into a new wholly owned subsidiary asamera minerals inc which will later issue up to 15 pct of its shares to the public
one strong indication that some kind of deal may be eventually worked out is the almost complete silence coming from iran it said
the bank cut its rate to 7 3 4 pct from eight pct on march 9 the first change since january 2
victory markets inc is raising 60 mln dlrs through an offering of subordinated debentures due 1999 with a 12 1 2 pct coupon and par pricing said sole underwriter drexel burnham lambert inc
approximately 15 mln tonnes of yugoslav corn have already been committed to foreign buyers for 1986 87 with most of this sold to the soviet union the yugoslav grain association reported to the us official
merrill lynch capital markets said it received a mandate from industrial equity ltd iel of australia to arrange a letter of credit facility in support of 100 mln dlrs of medium term notes and us commercial paper to be sold in the us domestic market
uk money market liquidity position expected flat
completion of the proposed transaction is subject to hurons ability to hire an experienced work force at competitive rates and receive government approval of the purchase and operation of the plant swift said
the analysts who issued buy recommendations on some stocks said the recovery in oil services should begin in the second half of 1987 after drilling activity bottoms out in the first half and continue into the next decade
jordan boosts bids in export bonus wheat tender
bankers said the interest rate modifications reflect the governments concern to reduce the costs of borrowing and help improve world competitiveness of indian goods
urban visiting the swedish capital to deliver a lecture at the foreign policy institute announced earlier this week that poland would soon offer shares to private citizens in state companies in a bid to make the economy more responsive
the basic cause some combination of insufficient domestic savings and an excessive budget deficit would remain the report said
work at chittagong port halted by strike
its shares closed off 1 3 8 at 21 1 8 as about 84400 shares changed hands
we will be a lot more expeditious in processing the requests of banks that have supported us gurria said adding we have long memories debt equity conversions are an attractive way for banks to provide clients with subsidized pesos for investment in mexico and to collect handsome brokerage fees or reduce their own mexican exposure in the process
qtly div 24 cts vs 24 cts prior pay april 10 record march 31
retail stores in these two countries will be providing additional funding for the program
the reference was to ges chairman
brazilian finance minister dilson funaro flatly rejected a uk suggestion that his country seek international monetary fund help in order to facilitate debt negotiations with commercial creditor banks
us sales should rise to more than 30000 from 28670 last year
co leads are mitsui trust international and pru bache securities international
latin america is grappling with adverse terms of trade for instance as underlined by the recent slide in coffee prices
a total of 100 mln stg of treasury bills was offered for sale this week
results for year 1986 group pre tax profit 385 mln crowns vs 380 mln net turnover 1417 billion crowns vs 1669 billion dividend eight pct vs nil group profit after tax 16 mln crowns vs 244 mln
flink and voted to change the name of the company to anw inc
baldrige warns of world trade war danger
dec 31 end shr profit nil vs loss four cts net profit 6891 vs loss 590460 revs 6518133 vs 2521884 avg shrs 131 mln vs 120 mln nine mths shr profit six cts vs loss seven cts net profit 772703 vs loss 758620 revs 201 mln vs 7599017 avg shrs 132 mln vs 109 mln
for its part the united states is apparently content to let the dollar fall gradually further and is paying little more than lip service to the february paris agreement of the group of five plus canada to foster stability dealers say
all of us are concerned daily with the fact that the tokyo market is growing that japan is becoming one of the three major financial markets in the world and in my personal opinion i think it would be a very big mistake to put a damper on this positive growth or developments by imposing such a tax hofer said
in the earlier deal with southland pdvsa agredd to to supply citgo with at least 130000 bpd of crude oil and other feedstocks
federal reserve board chairman paul volcker said a restrictive monetary policy would be damaging to investment and that a better course would be to restrain spending
shr primary 78 cts vs 68 cts shr diluted 75 cts vs 68 cts qtrly div six cts vs five cts net 7929000 vs 6569000 revs 787 mln vs 619 mln note pay date for the qtrly div is april 28 for shareholders of record april 20
sis corp sisb year net
the development banks after tax profits rose 392 pct in 1986 mainly due to a dividend of 204 mln dlrs paid by national discount company ltd before it became a subsidiary of the bank they said
we have no idea about the report and cannot comment a spokesman told 
but asked whether a bridge loan might be arranged to pay the interest he said it could happen bankers said this possibility had not been raised at the committee meeting and dismissed it as inconsistent with brazils determination to find a long term solution to the problem of servicing its 110 billion dlr foreign debt
about 9000 miners employed by the state corporation comibol declared a general strike as from midnight 0400 gmt to press for higher salaries a statement by the federation for bolivian mine workers said
a company spokesman said the company and union met informally tuesday but talks did not constitute a formal bargaining session
jwt group jwt sues wpp group plc
the association said that the request would cover exports to all destinations adding that the soviet union which has important maize needs is currently excluded from the list of destination countries for the 500000 tonnes of french maize
this mood easily led to over reaction analysts said
shr loss 12 cts vs profit two cts net loss 2669000 vs profit 528000 revs 798 mln vs 749 mln nine mths shr profit 64 cts vs profit 163 dlrs net profit 143 mln vs profit 357 mln revs 2800 mln vs 2888 mln
the embassy report says coffee stocks will rise to 13 mln tonnes in 1987 88 from 115 mln in 1986 87
linotype is a supplier of type and graphics composition systems
this is the first entry into the long term international capital markets by storehouse british designer terence conrans retail conglomerate which incorporates uk chain stores mothercare british home stores and habitat
ef hutton group inc efh 3rd qtr net
nyanganyi told on his return from a world bank sponsored donors conference in new york that the aid would enable trc to buy spares for 32 locomotives overhaul 800 wagons and replace 67000 sleepers over the next 12 months
8 pct bonds due july 1 1990 at a price of 10030 pct todmpbw about 789 pct to maturity 8 1 4 pct bonds due march 1 1994 at a price of 10025 pct to yield about 820 pct to maturity
the months ahead will prove critical as the government attempts a balancing act between defending higher oil prices and fostering recovery through a bigger role for the private sector
zenith said it will not market the drug until questions relating to the applicability of certain patents have been resolved
also if approved sheppard will change its name to breast centers
the kingdoms main buyers the four us oil firms with past stakes in the national oil company aramco mobil exxon texaco and chevron enjoy considerable flexibility in the timing and volume of their liftings but are bound to pay official prices the sources said
john melcher d mont would establish trade teams of between six and nine persons drawn from federal agencies and private voluntary organizations staff said
he declined comment on a reporters query whether he favored a stronger move against iran than that ordered by the president
treasury assistant secretary david mulford said the paris agreement among leading industrial nations is intended to produce reasonable stability in exchange markets over the next few months
but as exports were diverted and imports increased to avoid further domestic shortages the trade surplus plunged to 211 mln dlrs in october and since then has averaged under 150 mln
the central banks move has been combined with a steady cut in the dinar exchange rate
accepted bids ranged from 588 pct to 593 pct and 80 pct of bids at the high or stopout rate were taken
renault chrysler in accord for chrysler to buy amc
export bonus wheat flour to iraq usda
prices improved from 1150 dlrs a tonne six months ago to about 1450 dlrs today
europeesche made a loss of nine mln guilders in 1985 which narrowed to 45 mln guilders in 1986 van leeuwen said
it said qintex had a 30 day call option exerciseable nine months from closing to buy from hrs all or part of one mln roach shares at the greater of 850 dlrs each or the average roach share price for three months before exercise date
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
period ended feb 28 shr 466 dlrs vs 440 dlrs net 1048884000 vs 959626000 revs 543 billion vs 504 billion avg shrs 200242000 vs 191840000 note per share earnings reflect payment of preferred dividend requirements
uk growing impatient with japan thatcher
the bonds will be exchangeable from july 1 for shares on a one for one basis
prior year net excludes losses from discontinued operations of 143000 dlrs in quarter and 102156 dlrs in year
the department said the bonuses awarded averaged 4042 dlrs per tonne and will be paid to exporters in the form of commodities from ccc inventories
the downgrades were expected for some time
prices of north sea brent grade crude dipped to a low of 850 dlrs a barrel last july from a peak of over 30 dlrs the previous november
bavadra has launched a campaign of civil disobedience to press for his reinstatement
alexanders alx 2nd qtr ends feb 27 net
american express closed on the new york stock exchange at 72 5 8 up 4 1 8 on heavy volume
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
unfavorable weather conditions during the second week of march caused damage to oranges in the calabria region in southern italy the us agriculture departments officer in rome said in a field report
but sentiment received a much needed boost in september when after a series of piecemeal steps to combat a debt crisis caused by the 1982 crash of local stock market a comprehensive new debt settlement program was introduced
a spokesman for montreal based alcan said the decision is 48 pages long and is in legal ese so it certainly will be a long time before we can make a decision about what it means for the sebree smelter in henderson about 100 miles west of louisville
central sprinkler corp cnsp 1st qtr jan 31 net
he said as a transition to the higher prices he would allow livestock producers to purchase commodity credit corp
the company had sales last year of 256000 dlrs
at asas annual winter board of directors meeting here asa leaders refused to change their official position on the loan still calling for income support at 502 dlrs
through the deal he said venezuela will be assured the sale of at least 140000 bpd of crude and products
such a solution is still not in sight said nobel prize winning economist franco modigliani
a bank may decline to issue a bond on the requested day in the calendar but then has to wait for the next calendar period to schedule the bond again
the sources said it is also understood that the change in the coding of these stocks should definitely not be taken as a sell recommendation because salomon is said to believe that its downgrading will only prove temporary
it is indeed possible that dingman sees this as a low risk opportunistic investment voytko said
computer memories said the proposed transaction is subject to the results of certain corporate reviews and approval of its shareholders who will hold a special meeting as soon as practicable
the international community will not like this appointment as it suggests the possibility that the us budget deficit is too much of a burden on monetary policy and that volcker was unable to get the commitment he sought to reduce the deficit added merrill lynch economics analyst david horner
oper shr loss 64 cts vs profit 11 cts oper net loss 7229000 vs profit 902000 revs 676 mln vs 667 mln avg shrs 113 mln vs 8507000 year oper shr loss 63 cts vs profit 43 cts oper net loss 6177000 vs profit 3604000 revs 2648 mln vs 2385 mln avg shrs 9827000 vs 8403000 note 1986 quarter net includes 731000 dlr tax credit
1985 is for eight mths ended dec 31 1985
the offer would enable wickes to become fully independent and once the bid succeeded all the wickes directors would become members of the cityquest board
last septembers share offer which triggered criticism by underwriters about the handling of the sale opened at a substantial discount to its offer price resulting in losses for holders of the shares
the previous weeks m 1 level was revised to 7346 billion dlrs from 7342 billion dlrs while the four week moving average of m 1 rose to 7350 billion dlrs from 7335 billion
the bill to mature on may 2 will produce a 38995 pct yield on the sales made by the bank of japan to banks and seucurities houses through money houses they said
quakers total capital spending program for 1987 is expected to exceed 125 mln dlrs it said
the increase brings citgos posted price for the west texas intermediate and west texas sour grades to 1750 dlrs a barrel
mercury entertainment corp said it expects improved results in 1987
m 1 a which is m 1 plus daily interest chequable and non personal deposits rose 556 mln dlrs to 7519 billion dlrs and m 2 which is m 1 a plus other notice and personal fixed term deposit rose 651 mln dlrs to 17687 billion dlrss m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada rose 992 mln dlrs to 21603 billion dlrs
mesa royalty trust mrt monthly payout
terms of the acquisition were not disclosed
president robert staubli told a news conference that the first two months of this year gave hope that 1987 profit would at least equal last years figure but said much depended on outside factors such as fuel prices and the exchange rate
she noted that most of the reductions in soybean acres came in southeastern states where yields are usually low
co operative bancorp cobk raises quarterly
were selling and buying real estate in our real estate division and woolworth was interested in some of our properties
fw woolworth co says it hikes dividend to 33 cts a share from 28 cts
production in 1985 86 is estimated at 2495 mln tonnes vs 2495 mln last month
david t
ronald perelman head of revlon group inc rev may be trying to ignite a bidding war for gillette co that could draw some big international players and in the process make a lot of money for himself wall street analysts said
chase amp bank ltd said it will lower its prime lending rate to 1775 pct from 1825 effective tomorrow
its 1987 consumption forecast of 1301 mln tonnes is 04 pct down on 1986 while production is forecast six pct higher in 1987 at 1267 mln tonnes
snow fell in jiangsu anhui hubei and henan making early rice sowing difficult
iraq replaces oil minister in big govt shuffle
brazil would not repeat the measures it took in response to its debt crisis of 1982 which he said had provoked the biggest recession in his countrys history he added
the federal reserve is expected to enter the us government securities market to add temporary reserves directly by arranging three day system repurchase agreements economists said
rowntree mackintosh plc rwntl year to end january
argentine grain belt weather report
the move came after carlings 50 pct owner rothmans inc agreed last week to sell its carling stake to elders ixl ltd of australia for 1962 mln canadian dlrs
gnp includes such payments or outflows
he told reporters the major currency nations are determined to continue their concerted intervention whenever necessary to stave off speculative dollar selling in line with their february 22 currency stability agreement in paris
commerce officials would not say if they found any canadian companies had been evading the charge but that following the talks they were convinced all exporters were complying with the agreement
david jones owned 492 pct by adsteam earned the largest associates net of 5738 mln dlrs in the half against 4029 mln a year earlier adsteams figures show
and daiwa ran the books for an offering in the us earlier this month
the company said it expects earnings for fiscal 1987 ending june 30 to rise more than 75 pct over a year ago
the non callable bonds guaranteed by den norske creditbank will be issued in denominations of one mln yen and will be listed in luxembourg
it said the agreement is also subject to the waiver by march 13 of certain conditions under the companys existing bank credit agreement
qtr ended april 30 shr nine cts vs 17 cts net 1026000 vs 1840000 revs 259 mln vs 261 mln year shr 27 cts vs 56 cts net 2942000 vs 5865000 revs 957 mln vs 96 mln
us video vvco says note is called by lender
the central bank said cumulative assets at end february fell to 2002 billion ringgit from 2068 billion at end january but were up from 1707 billion at end february last year
wheat and soybean oil futures activity also rose from a year ago while soybean and soybean oil volume slipped the exchange said
he said it looked as if the december opec pact to restrain output was holding bringing supply and demand into balance but the test will come in summer when demand for opec oil will fall
up until the time of the announcment congressional and industry leaders were led to believe the white house had decided to expand the export enhancement program to include not only the soviets but also a much broader list of countries
turnover took a considerable downturn at the start of 1987 after falling 59 pct in 1986
norfolk owns about 20 pct of piedmont and opened the bidding when it said it would propose a takeover of piedmont
negotiators draft details of next rubber pact
petromont is jointly owned by union carbide canada ltd uccto and the quebec governments sgf industrial development group
the package guaranteed by the parent firm ssangyong cement industrial co ltd includes a 25 mln dlr medium term loan a five mln dlr revolving letter of credit facility and an 183 mln dlr bonding facility
the bond is due april 24 1990 and is guaranteed by credit lyonnais
baker then filed a suit seeking punitive damages from hughes for calling off the merger
coleman said it noted an increasing number of heat exchangers in certain furnaces made from march 1984 through december 1985 were returned because of corrosion
the money will be used to import manufacturing equipment including technology transfer for the production of truck radial tyres
he said by the end of the current fiscal year the deficit would probably be reduced by around 35 billion dlrs against last year and that the budget being worked on this year would contain a major reduction
shr loss 12 cts vs profit one ct net loss 1815000 vs profit 65000 revs 599 mln vs 2798000 avg shrs 158 mln vs 9775000 year shr loss 11 cts vs loss three cts net loss 1217000 vs loss 324000 revs 833 mln vs 3195000 avg shrs 112 mln vs 9775000
shr seven cts vs 24 cts net 1114000 vs 3676000 revs 436 mln vs 412 mln nine mths shr 25 cts vs 64 cts net 3952000 vs 9614000 revs 1186 mln vs 1199 mln
sabine royalty trust sbr sets monthly payout
india imports about 12 mln tonnes of edible oils a year
an asa spokesman said the association plans no survey of farmers planting intentions this year
fendt said that although the february results were lower than the average expected for the rest of the year the governments target of an eight billion dlr surplus for 1987 should be achieved
uaw says it back chrysler c amc amo merger
tuesday morning inc tues 4th qtr net
uspci which has 87 mln shares outstanding was trading at 48 1 8 down 3 8
it said the quality of oilseeds such as soybeans groundnuts and sunflower seed packed in polypropylene bags deteriorated after two weeks
other central banks were likely to follow suit causing a recession that could aggravate the debt crisis of developing countries as well as increase protectionism around the world
fears about the irish economy exacerbated by recent post electoral political wrangling in dublin prompted a sell off of ireland paper this morning with both dollar and mark denominated irish issues tumbling by a full point or more
honeywell said it expects to be honeywell bulls largest customer purchasing computers for its own internal data processing for integration into honeywell buidling and industrial automation systems and for resale to the us governement
the notes are rates b 2 by moodys and ccc plus by s p
he said interiors study also failed to weigh oil gas fish and wildlife information the state of alaska had gathered nor had the department consulted the environmental protection agency on the possible effects of exploration
but the two sides may agree to extend the deadline for a few days as ec commissioners willy de clercq and frans andriessen are due to visit washington from july 7 to 10
27 in discussions with governments brazil would review the mechanisms whereby finance was made available to nations in need
but the lower value of commodities such as timber rubber palm oil and tea on world markets has prevented this despite a 31 pct devaluation of the rupiah against the dollar in september
echo bay eco has nevada gold discovery
shr 24 cts vs 21 cts net 9700000 vs 8286000 revs 1206 mln vs 1157 mln avg shrs 400 mln vs 399 mln year shr 69 cts vs 68 cts net 278 mln vs 271 mln revs 3749 mln vs 3588 mln avg shrs 400 mln vs 399 mln note 1986 year net includes charge of 2396000 dlrs or six cts a share for debt redemption
arco arc up on higher earnings estimate
securities dealers say the lack of viable hedging instruments for shares and bonds makes trading in domestic markets too risky
indian oil gas commission gets 265 mln dlr credit
amcast industrial corp acst 2nd qtr net
fhlbb reports thrift results in fourth quarter
the subcommittee and the fda have acknowledged they are conducting separate investigations to determine whether or not icn witheld data from the fda on adverse reactions to the drug
s and p pointed out that the outlook for future revenue growth is constrained by general weakness in the provinces commodity based economy because of low prices
first wisconsin which had assets at yearend of 71 billion dlrs said the shelard purchase price is about 12 times the 1986 earnings of the bank
this years net includes an extraordinary loss of 201000 dlrs and a gain of 47 mln dlrs
shr 38 cts vs 47 cts net 2253664 vs 2806820 gross income 5173318 vs 5873904 note net includes gains on sale of real estate of 126117 dlrs vs 29812 dlrs
interest on the debentures will stop accruing on and after its redemption date the company said
the bank of canada acted to slow its currencys rise
march lower mississippi river memphis cairo 112 1 2 pct bid 120 offered no comparison
note bonus issue of four new b shares of par value 20 cents each for every one share of par value two dlrs each books close august 3 to 10
2 the ministers and governors reaffirmed the commitment to the cooperative approach agreed at the recent paris meeting and noted the progress achieved in implementing the undertakings embodied in the louvre agreement
under a 125000 bpd contract signed in february the saudis agreed to supply oil to brazil until june
calmar clmi seeks to be acquired by kebo ab 
in 1986 the government financing requirement is estimated at 561 billion francs or 110 pct of gnp
looking ahead 1987 should be another year of stability for the property market li said
it said owens illinois will be merged into a subsidiary of oii holdings on march 24
argosystems has granted boeing an option to buy 1238311 shares or 185 pct of the outstanding stock for 37 dlrs a share they said
soros group has bf goodrich gr stake
crude grades from 34 degrees api to above 40 degrees are unaffected
in january automobile sales fell 19 pct department store sales slipped 32 pct and variety stores sales plunged 14 pct
sterling cds were similarly down between 5 16 point in one month and 1 8 point in one year
industry sources said that the oil companies were likely to feel greater pressure on their operations in southern europe where competition from the opec countries is increasing as these producers move further into downstream operations
the bank of spain earlier this month imposed a 19 pct reserve requirement on new convertible peseta funds held by banks to curb short term speculative capital from abroad
in response to a query on what the state departments position is on selling subsidized wheat to moscow shultz told the leaders of the national association of wheat growers that prices must be competitive if the us is going to trade
shamrock also said nawara has been elected president of dbms and one of its directors
but while the uk is keen to see some movement on the issue by japan it is also worried that recent anti japanese rhetoric may cause developments to get out of hand officials said
the official said the addition to reserves was to cover the one pct of claims somehow not covered and any voluntary gestures it wanted to compensate for the effects of pollution from the fire
a foster spokesman said he did not know the names of the president and controller and could not immediately comment on the release
moodys said that while british petroleum has greatly strengthened its capital structure over the past few years this acquisition would seriously affect the companys liquidity leverage and interest coverage
he said costa rica would press for quotas based on the real production and export potential of each country in the past few years and to distribute quotas based on historic production levels rather than recent harvests and crop estimates
french oil group total cie francaise des petroles tpnpa is still expecting a 15 billion franc consolidated net loss including minority interests for 1986 after taking account of stock losses of 75 billion francs the company said in a communique after a board meeting here
allis chalmers in 1986 reported a net loss of 86 mln dlrs or 109 dlrs a share
the bill calls for an investigation of whether us engineering and construction firms are given adequate opportunity to bid on japans civil works procurement practices including the construction of the kansai airport
the notes were given a 10 1 2 pct coupon and par pricing
ico board meeting delayed one day
part of the cost will be met by the issue of 214 mln new ordinary bramall shares which are being placed at 265p each
stable interest rates and a growing economy are expected to provide favorable conditions for further growth in 1987 president brian omalley told shareholders at the annual meeting
a similar proposal has made no headway in the house
microtel inc said it has completed the acquisition of american teledata corp and its us dial subsidiary which provide long distance telephone service in northeast florida
japan has rejected the overture saying tokyo maintains a policy of self sufficiency in rice
sept 25 end primary shr 31 cts vs 22 cts diluted shr 30 cts vs 21 cts net 5019000 vs 3165000 revs 801 mln vs 572 mln primary avg shrs 16306000 vs 14495000 diluted avg shrs 17266000 vs 15827000 nine months primary shr 127 dlrs vs 107 dlrs diluted shr 123 dlrs vs 103 dlrs net 202 mln vs 155 mln revs 2445 mln vs 1815 mln primary avg shrs 15875000 vs 14495000 diluted avg shrs 16853000 vs 15280000 note results are pro forma assuming that company was public throughout 1986
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
this weeks meeting came after three latin american presidents meeting in montevideo called for stable interest rates on the regions 380 billion dlr foreign debt
car sales fell four pct to 25269 units from 26414 in the comparable half year the report said
shr profit 72 cts vs profit 14 cts net profit 3309000 vs profit 609000 revs 72 mln vs 65 mln year shr nil vs loss 413 dlrs net profit 1000 vs loss 19 mln revs 249 mln vs 269 mln note full name stewart and stevenson services inc
the saudis had demanded that brazil get credit guarantees from leading international banks
the appeal is unlikely to be heard for several months but a case brought by fellow itc creditor maclaine watson is to be heard on april 28
usda is very sensitive about saying anything that could influence the market so the secretary was very non committal a participant said
pearson coordinator of the airlines merger activities will become chairman and chief executive officer of aircal during the period up to completion of the merger
travers will continue as chairman president and chief executive officer and thomas j
the cumulative impact of the sales tax issue the yens rise and mounting trade friction could mean serious ldp losses in the april 11 and 26 local elections analysts said
fed funds opened at 5 15 16 pct and remained at that level
shr 124 dlrs vs 116 dlrs net 101 mln vs 8910000 nine mths shr 242 dlrs vs 330 dlrs net 198 mln vs 254 mln assets 43 billion vs 38 billion deposits 34 billion vs 31 billion loans 26 billion vs 23 billion
smoradas salary was not listed in the sec filing
diamond shamrock sets 27 pct proration factor for tendered shares
the net rate on the preceding issue was 930 pct
daiwa the us unit of daiwa securities co ltd of japan ran the books for a march 11 offering of 200 mln dlrs of 10 year notes of rockwell international corp rok underwriters noted
however the ec commission has said it maintains its proposals for a tax
some 80000 tonnes were held by banks and brokers after the international tin councils itc buffer stock manager halted support operations on the lme on behalf of the 22 members nations of the international tin agreement
bell petroleum services inc said regal international inc has doubled its offer for bell stock to one regal share for each bell share from half a share previously
the 22 mln barrels shipment will be made by the saudis on march 24 as scheduled the statement said
the us agriculture department gave the following breakdown of grain remaining in the farmer owned grain reserve as of april 1 in mln bushels by reserve number i ii iii iv v vi wheat nil nil 01 03 105 4797 corn 41 12319 sorghum x 01 388 barley 01 739 x mln cwts
international business machines corp has started the year aggressively but industry analysts said the company still faces some tough rounds in its fight to stop a two year earnings slump
the state oil company said pdvsa will pay on the order of 30 mln dlrs for the half interest in champlin
in payment for the acquisition dotronix will issue 312500 unregistered shares of its common stock notes worth 18 mln dlrs payable over three years and about 70000 dlrs in cash
french unemployment rose to a record seasonally adjusted 265 mln in february from 261 mln in january and 257 mln at the end of last year the labour ministry said
qtly div 42 cts vs 415 cts prior payable april 28 record april 14
oper shr loss one ct vs loss 265 dlrs oper net loss 100000 vs loss 327 mln revs 1423 mln vs 1688 mln 12 mths oper shr profit 57 cts vs loss 276 dlrs oper net profit 7072000 vs loss 342 mln revs 5440 mln vs 5722 mln note 1986 oper net excludes tax credits of 2149000 dlrs for qtr and 2200000 dlrs for 12 mths
earlier today london traders had expected the subsidy for the current season whites campaign for licences to end aug to be between 4410 and 4450 ecus per 100 kilos
louisiana pacific corp lpx 3rd qtr net
frank b
he said searles first quarter sales will be up 218 pct to 179 mln dlrs from 147 mln dlrs in the year ago quarter
investors in industry international bv is issuing a 500 mln franc bond with warrants guaranteed by investors in industry plc lead manager credit commercial de france said
shr 81 cts vs 63 cts net 16900000 vs 13100000 revs 1525 mln vs 1181 mln year shr 259 dlrs vs 185 dlrs net 53700000 vs 38100000 revs 5263 mln vs 4043 mln note prior year earnings reflect a three for two stock split distributed in may 1986
the italian firm said steuart petroleum operates primarily on the east coast
lee r
but iran was not deterred according to us defense officials who said iranian forces used chinese made silkworm missiles to hit a us owned liberian flagged ship on thursday and the sea isle city on friday
uk earnings up underlying 775 pct in april
the tender was announced last friday because carnival festivities closed banks in duesseldorf yesterday and will close banks here this afternoon
because of the purpose of the facility morgan only had five business days to arrange the facility
gulf escorts still under discussion weinberger
japan india conference cuts gulf war risk charges
they said last weeks cereals management committee agreed to release 70000 tonnes of feed wheat through weekly tenders between april 14 and may 26
the statement said the 400000 lire limit would remain for italian residents wishing to take cash out of the country but non residents could re export lira cash if they made appropriate declarations at customs points
the gas marketing unit earned 260 mln dlrs on sales of 2856 mln dlrs last year
north carolina federal ncfs raises prime rate
hongkong electric shareholders will receive one share in cavendish for every hongkong electric share
new york telephone co a unit of nynex corp said it filed with the securities and exchange commission a shelf registration statement covering up to 500 mln dlrs of debt securities
how can the government really raise taxes if the system they impose is prohibitive of generating business he said
braniff inc said march load factor fell to 591 pct from 655 pct in march 1986
imatron inc imat 4th qtr loss
the drafting of retaliation options follows the failure of high level talks earlier this month to resolve a case filed by the us national soybean processors association us officials said
an analyst of soviet agriculture at usda noted that a recent article in izvestia said soviet grain production in 1988 is planned to be 25 to 30 mln tonnes more than expected this year this indicates that their own estimate is for a 205 to 213 mln tonne grain crop the analyst said
abnormally high levels of radiation were found in soviet tea and hazelnuts more than nine months after the chernobyl nuclear accident west german residents in moscow were advised this week
washington imposed the tariffs because of japans alleged failure to uphold a 1986 agreement on semiconductor trade
group ups stake in tandy brands tab to 69 pct
the bank of england said it forecast a shortage of around 300 mln stg in the money market today
the company now has about 181 mln shares outstanding
us banks are not legally required to place loans on non accrual until interest becomes more than 90 days overdue
for that we must take the step forward to the institutional level said leo de corel of kredietbanks economic research department
if this pressure keeps up there is a possibility that rates could drop before the budget said jeremy hale economist at finance house goldman sachs international corp
it said the purchase price will be applied against the 1700000 dlrs putnam mills currently owes pope evans for merchandise
there were 499967 gallons of foreign imports last week versus 341280 gallons the week before
whitehall corp wht 4th qtr net
the compromise narrowed the range of differentials between the origins from what previous proposals had detailed a move some delegates described as just fiddling but the adjustments may prove significant enough to appease some countries that were not satisfied with the original proposed differentials assigned to them delegates said
general partners cuts stake in gencorp gy 
production at the mine has been suspended until investigations are complete
government ministers told reporters last week they regretted yugoslavia made such an effort in 1986
louisiana pacific corp said it plans to sell its sawmill in lakeview oregon and 18000 acres of timberland to ostrander construction co
the bundesbank provided banks with liquidity in the fourth march week by disbursing funds in the money market via government owned banks
the two sides in the thursday and friday talks will be headed by deputy us trade representative michael smith and miti vice minister makoto kuroda
the americans are getting frustrated at japans inertia in stimulating its economy said hirozumi tanaka assistant general manager of dai ichi kangyo bank ltds international treasury division
analysts said gencorp chairman a
the acquisition mostly extends citicorps reach into southern california where 34 of the 50 branches are located
baker warns against forgiveness of latin debt
a mas spokesman said a steering committee has yet to determine details but most of the new government securities will have a maturity of up to five years and 10 year paper may be issued if demand emerges
analysts and portfolio managers said they viewed texacos bankruptcy filing as a defensive move
the company recently purchased a 50 pct stake in the corpus christi texas refinery of champlin petroleum co a subsidiary of union pacific corp unp earlier it bought a similar stake in the lake charles la refinery owned by citgo petroleum corp a unit of southland corp slc according to the official venezuela is searching worldwide for the additional refining capacity but he did not mention where the company was looking
gte posts pre tax loss of 121 mln dlrs in 1st qtr for 50 pct share of us sprint
boston five said its president peter j
we should expand production of import substitutes and increase their proportion he said
us exporters report 150000 tonnes corn sold to unknown destinations for 1986 87
purolators deal with hutton was also called into question by a shareholder suit filed earlier this week which attempted to stop the tender offer to allow another bidder to come forth
oil traders said indonesian grades were already trading above their official selling prices osp on the spot market due to strong demand from japan and the us and tight supplies
but sellers could not be found at those levels and the bids soon rebounded to the 75 to 85 area he added referring to such issues as texacos 13 pct notes of 1991 the 13 1 4s of 1999 and 13 5 8s of 1994
proceeds of the offering will be used to refund the issues maturing march 25 1987 and to raise additional funds it said
jannock ltd said it acquired a 50 pct interest in intercon security ltd for five mln dlrs and intercon founders brian legge and richard grange will hold the remaining 50 pct and will continue to manage the company
even the us trade position has begun to feel the impact although so far it has not been very strong he said
the world bank had not issued floating rate notes so far this year because of the expectation of higher interest rates
the payment date is april 15
the report states that total net proved reserves at years end stood at 25 billion barrels an increase of 94 mln barrels or four pct above the previous year and detailed data show that the gains resulted from an increase in net proved reserves of natural gas liquids
it closed at its best level since september 12 at 714 pct of its 1975 value on the index as foreign investors continued to buy into a currency which offers high relative returns and the possibility of short term capital gains dealers said
trump and interstate properties in talks to acquire alexanders
they have 300 sugar mills compared with our 41 but they relocated many of them and diversified production
cyprus minerals co said along with about 40 other companies it has been named a defendant in 23 product liability lawsuits filed in california by individual tireworkers aleging injury as a result of exposure to talc and other products
white engine said the purchase is led by donald stewart a private investment banker along with white senior executives
nothing has changed landon said kansas city southern is continuing its efforts to acquire the transportation operation of santa fe railway
pope and talbot inc is raising 40 mln dlrs via an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole manager bear stearns and co
in january this year the central banks foreign reserves rose by 143 mln dlrs while financial institutions foreign currency position fell by 118 mln dlrs
brown and sons inc
the central bank had also bought dollars against the yen in morning trade
that plan includes integrating five boat companies that outboard marine has bought since the middle of december
first financial management corp said it acquired confidata corp a unit of north ridge bank paying 500000 dlrs in cash and pledging a guarantee on a 500000 dlr confidata note held by north ridge
mobils chairman has explained this change by saying we need a leaner organization to get more efficient usage from our assets said john lord a mobil corp spokesman
we have hopes for greater stability but we do not see prices going much higher he added
traders even disagreed about last weeks closing levels for the convertible bonds but a median appeared to be around 97 to 99 pct
michael kadoorie is chairman of hk hotels
however a successful auction could prove to be a turning point depending on prevailing market psychology
fruehauf said its board rescheduled the annual meeting to june 18 from may 7 to allow for completion and distribution of the 1986 results to shareholders
referring to that attack howe added i trust the iranians will fully understand that continued attacks of this kind will only enhance justification for firm action in self defense at a press conferenced in luxembourg during a meeting of european community ec ministers howe was asked about statements from a senior iranian official who said america was now involved in a full scale war
the company said the sale is subject to certain post closing adjustments which it did not explain
it will buy back the 13 pct issue at 11170 pct of the principal amount plus accrued interest
they are integrated management data systems inc which sells accounting software systems to the oil and gas industry and integrated management systems micro distribution division inc which distributes micro computer products
the cmb has 455000 60 kg bags of coffee about 15 pct of annual production stockpiled in kampala awaiting shipment
the guarantee line for sales of corn has been reduced from 780 mln dlrs to 570 mln and the line for oilseeds from 50 mln dlrs to zero
the company said the split would increase the number of authorized common shares from 440000 to 2200000 shares issued
1986 year net loss after exceptional charges 198 mln francs vs profit 250 mln exceptional provisions for closure of viviez electrolysis plant 187 mln francs vs exceptional gain 22 mln sales and services 1651 billion francs vs 2020 billion proposed net dividend on ordinary shares nil vs 110 francs companys full name is vieille montagne sa vmnbbr
the total western europe area is put at 249 mln ha against 250 mln in 1986
suntrust banks inc sti 1st qtr net
tesco associate buys 42 pct of hillards
her favorite is baker international which is involved in a possible merger with hughes tool co
the national strike headquarters in rio de janeiro said seamen were offering to resign in all the countrys main ports
the company said manitoba mineral resources ltd owns the remaining interest in the project which is located about 25 miles east of lynn lake
on march 30 the ico ad hoc working group will meet to consider management consultants ernst amp whinneys report on the ico secretariat
but tehran denied last sunday it intended to threaten gulf shipping and warned the us any interference in the region would meet a strong response
a three man japanese trade team is already in washington laying the groundwork for talks between kuroda and deputy us trade representative michael smith aimed at persuading the us not to impose tariffs on certain japanese products
canada may monitor steel shipments
he said conditions created by londons role as a leading financial centre had caused sterling interest rates to be higher in real terms than in other countries
the bank of canada will buy 100 mln dlrs of the new issue including 10 mln dlrs of the 2011 maturity
the analysts also said hughes may be worried that its troubles could make it a takeover candidate
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
de clercq told the official china daily that more joint ventures should be set up in china as a way of reducing chinas trade deficit with the ec
shr 20 ct vs 27 cts net 1048000 vs 1368000 revs 9457000 vs 5386000 note dollar amounts converted from irish pounds at noon buying rate of the federal reserve bank of new york at dec 31 1986 of 14105 dlr per one irish pound
christians told a news conference he met us treasury secretary james baker in the last two weeks after short term german interest rates had risen twice
oper shr loss two cts vs profit seven cts oper shr profit 442000 vs profit 2986000 revs 2918 mln vs 1511 mln avg shrs 517 mln vs 434 mln six mths oper shr profit nil vs profit 12 cts oper net profit 3376000 vs profit 5086000 revs 5693 mln vs 2985 mln avg shrs 516 mln vs 411 mln note per shr calculated after payment of preferred dividends
coastal to file proposed plan for transamerican liquidation on april 15
ranchmens resources ltd year loss
the usda report asssessed the impacts of the proposed 0 92 acreage program for wheat corn cotton sorghum and barley
stoltenberg had to leave monetary talks in washington last month early to sort out a row in the northern state of schleswig holstein where he heads the ruling cdu party
the dollar straight sector of the eurobond market ended easier after a subdued days trading as us banks began to match yesterdays surprise 1 4 point prime rate hikes by citibank and chase manhattan bank dealers said
results include 647 pct stake in pacific lumber co from december 1985 through february 1987 and 100 pct thereafter
nymex to submit propane proposal to cftc
shr loss 64 cts vs loss 170 dlrs net loss 134 mln vs loss 356 mln revs 479 mln vs 721 mln note1985 includes loss of 941000 from discontinued operations and 58 mln dlrs from disposal of net asset solds
manufacturers mhc in building foreclosure
fn provides loan collection accounting data processing and administrative services to the real estate industry
a us economic policymaker said the accord was on track and tokyo and bonn seem to want more stimulative measures which is what the paris accord calls for international monetary sources said exchange market developments generally have not unsettled policymakers although japan is an obvious exception
shr loss not given net loss 1300000 sales 3300000 note company incorporated in june 1985
north yemen has called a buying tender for saturday for the purchase of 30000 tonnes of white sugar for arrival in june traders said
it would also mean compensatory allowances in less favoured farming areas would be extended to crops
us leading indicators rose 07 pct in feb after revised 05 pct jan fall
economic spotlight kuwaiti economy
the issue has a one time call after three years first boston detailed
south koreas m 2 money supply rose 039 pct to 339920 billion won in february from 338584 billion in january when it fell a revised 004 pct from december provisional bank of korea figures show
they have set this signal and indicated they could maybe lower market rates even further but not with the discount or lombard winfried hutmann chief economist of schroeder munchmeyer hengst investment gmbh said
securicor unit seeks 50 mln stg credit facility
the increase would allow outstanding bonds to total 40 pct of the 1987 88 budget up from 25 pct in the current year
under the agreement the awb makes the wheat available and sells into the food agencys regular tenders he said in a statement
the bill now goes to the full house
sumita said the central bank would continue to make a judgement on monetary policies while watching consumer prices exchange rates and economic and financial conditions both in and outside japan
illinois power co said it filed a shelf registration to issue up to 50 mln dlrs principal amount of debt securities
but in doing so they havent pleased everyone
we should recognize ecuadors right to increase its quota there is a basis of justice in that countrys petition he added however the quota increase should be gradual to avoid harming the market he added
because that write off had no effect on graces cash s and p affirmed the current ratings noting that grace intends to sell its agricultural business
essex chemical corp said it filed with the securities and exchange commission a registration statement covering a 60 mln dlr issue of convertivble subordinated debentures due 2012
the debt has an average life of 179 years and matures in 1992
hyponex said proceeds will be used mainly to finance acquisitions of assets and businesses
the department said the action reduces the guarantee line authorized for sales of oilseeds to 50 mln dlrs from 200 mln dlrs and creates the new line for protein meals
china is currently forecast to export 55 mln tonnes of corn during 1986 87 oct sept it said
the field is located in southern louisiana
it said it is prepared to negotiate its offer
quaker oats co oat 1st qtr sept 30 net
the treasury secretary is also expected us officials say to portray that attempt as a crucial element in his plan to promote inflation free economic growth open markets and a much reduced government role in the economies of latin america
two iranian boats wer destroyed and sunk with their occupants and the others fled it said
return on assets increased by two cts to 46 cts per 100 dlrs of average assets from the first quarter in fiscal 1986 but declined two cts from fiscal 1986 fourth quarter
the company said the group indicated to it that it had no hostile takeover intent toward ameritrust and that the purchase was for investment purposes
the loss included a charge of 38 mln dlrs from redemption of debentures
hudson foods inc said it has agreed in principle to acquire thies cos inc a poultry beef and pork products provider to midwest supermarkets and food distributors with sales of about 69 mln dlrs for the year ended november one
he also told in an interview he is seeking an acquisition of from two billion to eight billion dlrs
american brands had to make an acquisition because tobacco is still a significant part of earnings
an early renewal of inflationary pressures linked to monetary expansion exchange rate devaluation and an easing of price controls appears not improbable it added
chicago heater will be intergrated with cranes cochrane environment systems division the company said
how can i tell that we are ready to fulfill the agreement if the united states does not want to offer us grain at competitive prices said albert melnikov deputy trade representative of the soviet union to the united states
assets of 93 institutional funds were up 4811 mln dlrs to 6565 billion dlrs 93 broker dealer funds rose 2853 mln dlrs to 10731 billion dlrs and 197 general purpose funds gained 6255 mln dlrs to 638 billion dlrs
brascan ltd brsa 4th qtr net
childrens discovery cdcra 4th qtr loss
he said higher prices on imported products and wage cuts that have helped the manufacturing sector will squeeze consumers purchasing power
the company said a similar split was paid december eight leaving it with 2344200 shares outstanding
us to sell 128 billion dlrs in bills
but they now circulate widely among local residents and there is a big black market in the currency though it is theoretically at par with the ordinary chinese currency renminbi
our mandate is to finance investment related activities rolando arrivillaga the banks resident representative in the philippines told in an interview
the accord restructured 58 billion dlrs of previously rescheduled debt 35 billion dlrs of debt falling due between january 1987 and december 1992 and 925 mln dlrs of new money lent by the banks in 1985 at a spread of 7 8 percentage points over london interbank offered rates libor it also rolled over trade credits worth 29 billion dlrs
if prices are lower the federal treasury makes up the difference
in a newspaper advertisement the company said the tender and withdrawal rights will expire may five unless extended
sudan has a foreign debt totalling 106 billion dlrs
mark salvino said the expected loss is primarily due to depressed product prices not recovering the increasing cost of crude oil
notes in circulation totalled 1624 billion dlrs up 76 mln dlrs from the week before
weve begun efforts to secure that financing he said
if the recent offer had gone through the zico would have owned slightly more than 50 pct of bancrofts outstanding shares
residents of central oklahoma returned to their homes over the weekend after a week of heavy rains and severe flooding that left two dead and caused more than 20 mln dlrs in damage officials said
hughes contended it was better to formally combine the companies with the status of reed already settled
terms will be fixed on april 2 with payment due april 22
the remainder of the funds will come from export credits and domestic borrowings
in march 1986 640400 persons or 85 pct of the workforce were out of work
new south wales treasury corp is issuing 15 billion yen of eurobonds due april 15 1992 priced at 101 5 8 with a 4 7 8 pct coupon nikko securities co europe ltd said as book runner and joint lead manager with mitsui trust and banking co ltd
us says usair u may buy 51 pct of piedmont
they were normally not brought onto the open market and never quoted on the stock exchange
teck corp said it was continuing talks about joining a joint copper venture at highland valley british columbia held by affiliates cominco ltd clt and lornex mining corp but did not know when negotiations would be completed
rainer gut chairman of credit suisse told the national press club that the dollars downward trend against the yen and the mark will continue for years because the united states is the worlds largest debtor nation
in his speech alfonsin said economic integration is the only way for latin america to overcome its current crisis
the issues are aimed at helping curb the growth of m 1b money supply which is the result of large foreign exchange reserves
certainteed seeks 150 mln dlr credit facility
as a result it carried terms that bankers considered relatively favourable when compared with those on most other recent credits
the subcommittee projects that the current account surplus will fall to less than two pct of japans total output or gross national product around 1993 or 1995
the gillette board of directors has a regularly scheduled meeting this afternoon and gillette said it anticipates making a statement after that meeting
what has been happening is an important shift in the economy which makes the ministry a very important place said james abegglen head of the consulting firm asia advisory service inc
it follows that theyre not likely to rally to the side of the united states in defence of the agreement said wolf
the bond features a sinking fund from 1989 which will retire 10 mln ecus worth each year thereafter giving the issue an average life of four years
shr 35 cts vs 13 cts net 531840 vs 188362 revs not given year shr 83 cts vs 41 cts net 1249000 vs 620000 revs 10800000 vs 5600000
a top swiss banker called for an obligatory continuous rating for all swiss franc bonds and said he believed anyone buying more than five pct of a company should be made to declare their share
japan seems particularly peeved at being singled in a draft trade bill before the senate as a nation following adverserial trade practices
piedmont aviation inc pie sets quarterly
barco directors approve buyout offer from senior management
the union said about 1000 mineworkers at a new coal facility owned by anglo american corp of south africa ltd anglj also returned to their jobs on tuesday
he said the reason for the two month extension of the only ec farm product marketing years which end during the spring months was that it would be impossible for ministers formally to agree 1987 88 farm price arrangements before may 12
but tightness and backwardations are seen continuing even though the lmes new option contracts widen the gap between the declaration and prompt dates
analysts said their forecasts for even greater acreage in 1987 were spurred in part by belief that this years good demand and firm prices will be repeated next year
brown transport btci sees record 1987 net
one said that japanese chip makers are losing ground in asia to south korean and us competition just as markets there are picking up
anzola told a meeting of the banking association yesterday the new plan to be called exchange agreement no
this is just typical said george thompson of prudential bache securities
however he said that there was no target date for completing the process
proceeds will be to refinance outstanding debt or for general corporate purposes the company said
floating rate note market still in turmoil
the government confirmed this year it had stopped sbending copper south through south africa
snc group expects higher 1987 earnings sales
lyng says no decisions taken at cabinet council
tandler said three billion marks of the extra tax relief would be accounted for by reducing the rate of marginal increase in income tax
negotiations with the iranians for 1987 shipments were currently under way with iran again seeking credit and barter provisions he said
middle east currency market sees key changes
non performing loans began to mount in the early 1980s as industry failed to cope with higher interest rates and started to default
leigh pemberton said the bank of england had not wanted base rates to fall before the unveiling of the 1987 88 budget on march 17 but he said pressure from financial markets for such a move had proved irresistible
each warrant may be converted into one common shares of poco at 950 dlrs per share through january 15 1989
under the agreement announced last month ferruzzi acquired all the equity and assumed subordinated term debt of about 195 mln dlrs in a transaction valued at about 370 mln dlrs
the us senate has unanimously called for president reagan immediately to force japan to live up to a pledge to stop dumping its microchips and open its markets to us chipmakers
wright says a gas tax an option to cut deficit
february production of selected products included the following with comparisons in mln lbs feb 87 jan 87 feb 86 baking or frying fats 3555 3876 r 4274 soybean salad and cooking oil 3881 3733 r 3517 r revised
volcker understands what motivates people outside the us that was in his gut
lawson is paying now for a little bit of a slip of the tongue barclays de zoete wedd economist mark brett said there is nothing great and fantastic in the chancellors statement he said he did not believe the rates indicated by the chancellor were precise targets but merely represented central rates around which sterling would be allowed to fluctuate perhaps by as much as 10 pct
the agreement was made during a meeting here last week between algerias entreprise nationale des non ferreux et substances utiles enof and spains almaden to discuss the market situation
money seems to be chasing yields william byers of bear stearns said of the 10 1 2 pct uk base lending rate
usdas amstutz confident of ec oils tax defeat
cycare systems inc cycr buys medtec
carolyn bean cben completes acquisition
this is a very prudent move on managements part said barnes
domestic crude oil production was estimated at 836 mln bpd down 81 pct from 910 mln a year ago and gross daily crude imports excluding those for the spr averaged 370 mln bpd up 248 pct from 296 mln the eia said
ajinomoto to buy out joint food venture partner
div 145 swiss francs per share and 29 francs per participation certificate unchanged net 179 billion vs 175 billion shr 526 vs 515 turnover 3805 billion vs 4223 billion addition to reserves 170 mln vs 95 mln
new jersey resources corp said it has filed for an offering of 1300000 common shares through underwriters led by merrill lynch and co inc mer and ef hutton group inc efh it said the offering is expected to be completed in late march or early april and proceeds will be used to reduce short term debt
guinness plc guinl said that as part of a new strategy for the company it will be selling its retail interests to concentrate resources on developing its international beverage businesses
the increase will result from the addition of two linear reactors based on fluid bed gas phase technology for the production of linear low density or high density polyethylene at locations in the midwest and gulf coast it said
current year net both periods excludes 15000 dlr tax loss carryforward
non callable for life the issue is rated a top flight aaa by moodys and standard and poors
unocal corps union oil co said it lowered its posted prices for crude oil one to 150 dlrs a barrel in the eastern region of the us effective feb 26
banks are being invited to join the facility at four mln dlrs for 55 basis points and at two mln dlrs for 40 basis points
div and rights issue reg march 30
the ethanol project would result in employment for about 100000 people sharply reducing those thrown out of work by depressed world sugar prices and a moribund domestic industry
previously march and may were unlimited
shr 20 cts vs 14 cts net 24 mln vs 17 mln revs 1367 mln vs 1744 mln six mths sdhr 72 cts vs 82 cts net 86 mln vs 99 mln revs 2125 mln vs 2688 mln
import curbs on about 400 foreign goods including stationery and books would soon be relaxed he said
commercial paper outstanding nationally increased 298 billion dlrs to 33900 billion
research development and engineering expenditures in fiscal 1987 will be in the 45 50 mln dlr range and the company said it has allocated another 30 40 mln dlrs for capital expenditures
i think that is just for the benefit of the public walsh said of bank of montreals statement
the plant will supply its nuclear power industry
the proposed stock split will be paid may 29 in shares of class a shares the company said
the international cocoa organisation is due to discuss the scheme at a meeting in june and exporters could use the yaounde talks to work out a common position on the issue the sources said
dravo drv to have first quarter loss
year to march 31 fin div 35p making 55p vs 25p shr 252p vs 147p pretax profit 505 mln stg vs 301 mln net after tax 360 mln vs 216 mln turnover 122 billion vs 116 billion extraordinary dbt 103 mln vs 82 mln note full company name is johnson matthey plc
the duty to raise funds for special energy projects was adjusted after average crude import prices rose to 1685 dlrs a barrel in april from 1665 dlrs in march and 1308 dlrs in april 1986 ministry officials said
the company declined to say how much the cost savings would amount to
after acquiring all of standard most of bps reserves would be in the us but only about six pct of its stock is held in the us the only way they can sell all that stock is to move it into the united states
public service enterprise peg 3rd qtr net
qintex will also complete the 168 mln us dlr buy of 24 mln roach treasury shares at seven dlrs each and provide roach with 50 mln us dlrs of financing for expansion hrs said
housing medical and educations costs increased in january compared with a year earlier but the cost of utilities gasoline and vegetables fell
but koizumi said the ldp does not rule out a rate cut if necessary in the future
it said it plans to hire the majority of lazeres 100 employees
the tax exemption has helped bolster ethanol production despite a sharp drop in the prices of competing crude oil
he said capel cure has deliberately set low commisstions because of this
sales of compact disc players rose to 450000 from 300000 and those of the walkman rose to 225 mln from 130 mln but colour television sales fell to 950000 from one mln due to lower exports to china
it said its previously announced engagement of salomon inc sb to evaluate alternatives to enhance shareholder values including the possible sale of american savings is still being actively pursued
total sales of the 15308 firms with capital of 10 mln yen or more which responded to the poll fell one pct to 217217 billion yen against a 12 pct fall the previous quarter
convertible peseta funds previously were exempt from reserve requirements
the switch reduces the total value of gsm 102 guarantees for the current fiscal year to 300 mln dlrs
retail movement was 1652916 versus 2015953 a year ago
balances in tax and loan note accounts fell to 9706 billion dlrs from 10786 billion dlrs on the same respective days
yeutter concerned about us export picture
exports were 286 billion dlrs in february against 283 billion in january and 223 billion in february last year
a 300 mln dlr offering of notes due 1997 was assigned an 8 3 4 pct coupon and priced at 99447 to yield 8834 pct or 160 basis points over treasuries
the saudis are being very cooperative
american communications and television inc said its common stock will continue to be included in the national association of securities dealers nasdaq system due to an exception from filing requirements which it failed to meet as of february 14
canadian roxy petroleum ltd said a new oil discovery in the peerless lake area of north central alberta is capable of flowing at over 1000 barrels of oil a day from a lower zone and more than 1500 barrels a day from a separate upper zone
bancroft bcf sues zico
should these loans remain on nonperforming basis for the rest of 1987 net income for year will be cut by about 32 mln dlrs the bank said
shr two cts vs one ct net 42000 vs 26000 sales 156 mln vs 152 mln note 1987 net includes gain 63000 dlrs from change in pension accounting
cronus industries inc said it agreed to sell its heat transfer equipment business southwestern engineering co for a slight premium over book value plus a release of cronus from liability on approximately three mln dlrs of subsidiary indebtedness
woodville which makes high technology precision products for aerospace automotive and other industries had 1986 sales of about 24 mln stg it said
he said that although he had heard forecasts of 30 mln bags for the coming crop the ibc would not make any estimate until late april
standard and poors corp said it raised to a plus from a weyerhauser cos 150 mln dlrs of market auction preferred stock series a and b
the premiums and discounts schedule are based on quality factors such as moisture content and kernel damage
c and w had earlier rejected a reported proposal which would have given it a five pct share in the new telecommunications firm compared to the less than three pct stake watanabe originally proposed
during the interview executive vice president douglas yearley said he believed it was only a matter of time before the copper price rose because there arent that many new projects coming on and demand short of a major recession will continue to grow modestly copper for july delivery rose more than two cts a pound to more than 69 cents in comex trading today
futures traders said tight cash supplies should help july soybeans and soymeal gain on deferreds
monsanto mtc says debt was cut in 1986
it noted that easter sales will fall in april this year instead of march as last year
the trade bill will be wrapped in with legislation from other committees dealing with relaxation of export controls incentives for research expanded worker training and education and other efforts to increase us competitiveness
advanced tobacco products inc said it has ended talks on being acquired by sterling drug inc sty but has resumed acquisition talks with other parties
analysts are divided over the outcome for last week because there is uncertainty about whether throughput levels increased or decreased last week
it fully agrees with the central banks policy director general julien geertsema told noting a 1983 decision not to revalue the guilder fully with the mark in the ems hurt confidence in the dutch currency
the cocoa buffer stock rules just decided by the international cocoa organization icco council will take effect immediately delegates said
proceeds may be used for debt refinancings capital expenditures and other general corporate purposes the company said
the system will first be used for glass and then expanded to other products
energy development partners ltd said it has completed the acquisition of may energy partners ltd for 1817697 depositary units following approval yesterday by may energy unitholders
the acquisition is subject to certain conditions such as satisfactory results of due diligence investigations the company said
in taking a hard line against wholesale debt relief the banks have the clear backing of the reagan administration
heinz hnz has higher net despite higher costs
that is in fact what has happened since paris monetary analysts said stability has been helped in part by the decision of industrial nations to bury the hatchet and cease to quarrel over short term policy objectives
they were 202 billion in february 1986
the company has the non cumulative option to retire an additional 100000 shares on any sinking fund payment date it said
in 1983 84 an outbreak of avian influenza in pennsylvania maryland virginia and new jersey cost taxpayers 65 mln dlrs to control and required the destruction of more than 17 mln birds it said
norcros shares eased 26p to 410p on the announcement while williams fell to 767p from 785p
usda said moscow already has purchased over 25 mln tonnes grain for delivery in 1986 87 including 14 mln tonnes wheat and 12 mln tonnes coarse grain
this should keep substantial pressure on exporters to undertake sales despite the drop in prices she said
contel ctc unit sales seen by analysts
the five week period is the normal delay between sugar going into intervention and payment being made for it
the 1987 first quarter will include proceeds from the agrico sale for 250 mln dlrs cash at closing plus deferred payments and proceeds of 320 mln dlrs from the sale of a stake in peabody holding co completed in january
the figures may look mediocre neither good nor bad but set in their context of structural reforms they are excellent develle said
tender loving care said the extended merger agreement continues to provide for the exchange of 16 of its shares for each staff builders share outstanding
the rights will be exercisable only if without reichholds prior consent a person or group a acquires 20 pct or more of the voting power or announces a tender offer which would result in 20 pct ownership the company said
shr 53 cts vs 61 cts net 9909000 vs 11489000 revs 1859 mln vs 1615 mln year shr 120 dlrs vs 137 dlrs net 22522000 vs 25667000 revs 5885 mln vs 5217 mln
chase amp bank to lower australian prime rate to 1775 pct from 1825 tomorrow
its commercial paper was affirmed at a 111 1plus
servo corp of america sca 1st qtr jan 31 net
japans economic policies face fierce international attack as hopes fade of a substantial drop in its trade surplus international monetary sources said
nec corp has 150 mln dlr euro cp program
but he said it was not aimed at moderating dollar selling
we are looking to a long term relationship and at a time of protectionist tendencies in the us congress there are clear benefits to both sides he said
he stressed that a further sharp fall in the dollar would hurt the ability of germany and japan to boost growth
the plessey co plc announced it had won a 100 mln dlr digital telephone exchange order in the united states which it said was the first major us telephone exchange order not to go to established us suppliers
proceeds will be used for general working capital and the anticipated domestic and foreign expansion of avnets businesses the company said
the company reported a 1986 pretax profit of 44 mln stg down from 118 mln in 1985
first financial ffmc buys confidata
we think there are signals that current conditions are more favorable than they have been for sometime simon said
dart group flexible on supermarkets sgl bid
the 2011 maturity will be issued to a maximum of 375 mln dlrs
the fund said 575 mln dlrs will be available immediately under the saf and a separate financing arrangement
rochester telephone rtc completes acquisition
1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 domestic use 240 240 170 170 exports 150 200 167 167 total use 390 440 337 337 end stocks x 245 195 267 267 avgpric 345 425 345 425 591 591 note average price in dlrs per cwt
us m 1 money supply falls two billion dlrs in march 30 week fed says
the office of technology assessment a nonpartisan arm of congress told a house ways and means trade subcommittee hearing there was still concern for the future of parts of the us textile and apparel industry but there was more reason for optimism than a few years ago
said before the contract can be awarded versatile will be required to offer assurances that the shipyard is technically and financially capable of performing the work crosibie said versatiles bid was 100 mln dlrs lower than competing bidders and will generate 1000 person years of direct employment
illinois central gulf railroad a subsidiary of ic industries inc said it will complete the sale to the chicago missouri and western railway of its 631 mile line from joliet ill to st
if the commission decided to offer the sugar to traders for export the restitutions would have to be higher than those at recent export tenders czarnikow notes
brad ragan inc brd sets quarterly
child world inc cwld 4th qtr jan 31 net
for 1986 revlon said the loss applicable to common stock after preferred dividends is 95 mln dlrs
this was 519 pct up from 4998 billion at the end of november and 4185 pct up from 3709 billion in december 1985
february export prices same base as import prices were unchanged compared with january and 25 pct lower than in february 1986
bat industries plc btil 1986 results which were at the upper end of market expectations showed the company was in a strong position and that its shares were probably undervalued share analysts said
on a comparable store basis it said sales declined 49 pct
use of physical gold should rise this year due to increased industrial demand and higher expected coin production the bank said
brennan said he expects his banks growth to come from increased exports to canada
opec is keeping its production down and in the cash market there is tight supply of crude with short transportation time to major refining centers said daniel mckinley oil analyst with smith barney harris upham and co
zeebregts said the initiation of new procedure might well take up to two months but the employers were not prepared simply to sit and wait for the may 7 court ruling with the chance they would have to start all over again in any case
agriculture minister achmad affandi in written remarks distributed today as indonesias 14 foreign donor nations met at the hague said the general argument presented by the bank for this free trade open economy view is weak the bank called for overhauls in how indonesia manages the largest farm area in south east asia and said agricultural growth was stagnating under subsisides for rice farming
european community criticises us trade measures
the 1987 88 beef and pork price stabilisation zone will be set by the end of march after an advisory panel to the agriculture ministry recommends the price zone at a meeting on march 25 ministry officials said
whippany paper board co inc said shareholders at a special meeting approved a merger into npn inc for 250 dlrs per share
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
while company officials declined to disclose earnings and revenue figures oneil said gelco express holds a dominant position in the industry handling more than 50000 packages a day and generating revenues of more than 100 mln canadian dlrs a year
australian unemployment rises in march
of the 13 billion dlrs frozen debt 35 billion was owed by public sector and 95 billion by private industry du plessis said
another added if the americans do not get what they want they will push the dollar down regardless of g 6 citibank ag also cast doubt on the chances of success for the paris agreement in its latest investment letter
excluding bojangles the group had revenues of 438 mln dlrs
the exercise price is 543 swiss francs
realized investment gains for 1986 3rd qtr and nine mths were 186 mln dlrs and 336 mln dlrs respectively
scotts said it would operate capital food as a separate unit under capitals current name and management
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
it set a lira d mark rate of 42830 43044 to the mark up from 42915 43130
reynolds said in the letter that for the last few years gencorp management has taken action to enhance shareholder value and the stock price and earnings have improved since he joined the company
winter kill has probably affected west german winter barley and rapeseed to an above average degree this season west german grain trader alfred c
hoechst ag hfagf said its group pre tax profit in 1986 would be slightly lower than the 316 billion marks posted in 1985 while parent company pre tax profits rose slightly from the 162 billion in 1985
the midamerica commodity exchange an affiliate of the chicago board of trade cbt that offers smaller versions of several futures contracts traded on other exchanges will begin trading in its new quarters within the cbt complex on march 30 the cbt announced
bevis industries inc said it retained tucker anthony and rl day inc to seek purchasers of the company or its units
the canam manac group inc said its canam steel works unit received a contract valued at 85 mln dlrs to supply steel trusses to canron inc for a new car plant in ingersoll ontario
merrill corp said it acquired frayn financial printing the financial printing division of frayn printing co seattle
the company said terms of the new preferred will permit it to redeem and retire the 1985 preferred shares at a discount from their current liquidation value of 50 mln dlrs or 100 dlrs a share
japan is completing constitutional procedures necessary to its accession to the icco and is expected to become an importing member in three to four months they said
argentine port workers began an indefinite protest against safety conditions at the port of buenos aires stopping work for one hour per shift a press spokesman said
outokumpu is planning to make wirsbo an independent division in the outokumpu group and transfer only wirsbos copper tube production into one of the new divisions profit centres
lme lists brazilian aluminium brand
retail clients usually seen returning to the market as price falls push yield margins up to these attractive levels have been unnerved by the last three days panic dealers said
that is 140 basis points more than the yield of comparable treasury securities
this accord may not result in an immediate boom but at least it enhances the image of the country for foreign investors but periquet said domestic and foreign investments fell short of targets in 1986
earlier this year it negotiated a possible bid for underwoods plc buit the talks were broken off two weeks ago
for investors buying less than 100000 dlrs of the notes the offering was priced at par to yield 45 basis points over comparable treasury securities
the etl cash offer values moniers issued capital of 15628 mln shares at 649 mln dlrs against 593 mln for the csr bid
first connecticut fco sets quarterly payout
the group said it filed on wednesday with federal antitrust regulators for advance clearance to buy enough additional shares to increase its total stake to up to 499 pct of the total outstanding stock
stanley fishman analyst at fahnestock and co said it is better for a suitor to bid for outboard before the two mln shares are sold
australian wheat exports in 1986 87 are forecast at 1450 mln tonnes vs 1450 mln tonnes last month while exports in 1985 86 are estimated at 1596 mln tonnes vs 1596 mln last month
it is important to increase the efficiency of debtor countries to such an extent they earn sufficient currency from exports to repay foreign debt he said
the increased output will enable bangladesh to cut imports
experts attributed the fall to lower world market prices following the failure to re introduce international coffee export quotas but they said colombia could compensate the drop with higher exports in calendar 1987
the bank said that excluding valuation effects it estimated reserves fell 853 mln dlrs after falling 234 billion in january and rising 323 mln a year earlier
the light louisiana sweet grade was also increased 50 cts to 1935 dlrs a barrel
should the present drought continue however production is estimated at around 20 mln bushels the letter added
cathay pacific airways 1986 net profit 123 billion hk dlrs vs 7775 mln
terms were not disclosed
vhc ltd vhcl 4th qtr oper net
in a filing with the securities and exchange commission zinn said the demand for the shareholder list was made on june 26 because he may desire to communicate with other crazy eddie shareholders regarding the affairs of the company
however he added that if the us and other nations do not take the necessary steps to cut the us trade deficit the dollar will be the equalizer yeutter said there is no quick fix to the trade problem and any resort to such tactics as protectionist trade legislation or trade restrictions poses real dangers
as anticipated march sales were lackluster in our seasonally sensitive businesses due to easters being three weeks later this year than last the company said in a statement
mexican hydrocarbon reserves fall slightly in 1986
levon resources ltd said re checked gold assays from the howard tunnel on its congress british columbia property yielded higher gold grades than those reported in january and february
in the latest three months the energy index which comprises oil natural gas and coal production was down 35 pct on the previous quarter and 05 pct below the same period a year earlier
gulf arab ministers discuss economic cooperation
another said management seemed to have the edge on the timing issue
the officials also sought to discredit suggestions in the market that recent us action to prevent the dollar from rising above 187 marks pointed to a 153 to 155 yen ceiling for the us currency
in recent weeks the venezuelan government has denied rumours that it intends to impose foreign exchange controls to prop up the weakening bolivar
the february rise brought the increase in consumer prices since the introduction of the anti inflation cruzado plan a year ago to 625 pct
he said the bank was also proposing a one for 10 share split which should facilitate trade in the banks stock
if the recommendations are approved by the board the capital of the bank would rise from around 655 billion dlrs to 1966 billion dlrs
in addition henderson said overall corporate growth will come from icis research and development activities but the company intends to continue to grow through an acquisition program
it said will buy up to 302300 shares of astrotechs 180 dlrs cumulative preferred stock
over the next two days it expects 2 26 2 27 due 27 35 scheduled to transit 35 41 end day backlog 31 25 average waiting time tomorrow super tankers regular vessels north end 13 hrs 15 hrs south end 4 hrs 26 hrs
gould another close confidante has known baker for years
mafina bv of voorburg a subsidiary of petrofina sa petbbr is issuing a minimum 200 mln franc seven year bond with warrants paying two pct lead manager credit suisse said
the bank is primarily a development institution not a debt management agency
crude oil prices could remain around 18 dlrs a barrel until the end of the year but opecs decision on output at its next meeting would be the critical factor an official of mexicos state oil company petroleos mexicanos pemex told a group of japanese businessmen
the extraordinary items debit of 38 mln stg arose on the closure and disposal of various businesses
the dollars recent slight appreciation against the mark even meant that foreign investors have sold mark bonds recently some dealers said
in march alone prices rose 01 pct after a 03 pct rise in february
more us banks join in prime rate cut
photronic labs inc plab 1st qtr jan 31 net
kurzweil music systems inc kurm 4th qtr loss
president leon febres cordero on friday estimated total damages caused by the quake at one billion dlrs and said that ecuador as a result would maintain januarys suspension of interest payments on its foreign commercial bank debt
shr 46 cts vs 31 cts net 3608000 vs 2448000 revs 2235 mln vs 2182 mln six mths shr 87 cts vs 64 cts net 6788000 vs 4992000 revs 4415 mln vs 4395 mln
if us intervention occurs the entire world will become insecure for the americans and the events of lebanon could be repeated for the americans everywhere he said
singapore government takes over goodwood shares
shr loss 24 cts vs profit three cts net loss 982779 vs profit 104418 revs 112 mln vs 123 mln
the balance would be used to pay various state taxes and other expenses relating to the transaction and to establish reserves to provide for certain unassumed obligations of the company
dateline technology designs and sells high capacity high speed computer peripheral subsystems primarily for data storage applied data said
the canadian import tribunal ruled today subsidized us corn imports were injurious to canadian growers and upheld a countervailing duty of 849 us cts a bushel set earlier this year
if the refining sector can discipline itself to refine about 12 mln barrels of crude oil a day we have a chance to pull down inventories to acceptable levels by the second quarter said archie dunham executive vice president of petroluem products at conoco inc if not the industry will have a tough 1987 he added
there is no problem in financing it the prepayments constitute about 15 pct of current international reserves of 25 billion dlrs he said
extraordinary debit 204 mln vs 282 mln
brougham said we british banks have always played along for mexico and will do so as long as others share equally the decision to send the telexes was agreed on by the six clearers jointly but each sent its own telex
the bank of finland said it has started dealings in banks certificates of deposits cds with immediate effect and that it was prepared to issue its own paper to stimulate operations on the domestic money market
contract negotiations filing with the us government and the time required to restart mothballed terminals will delay the import until 1988 1989 daniel tulis a natural gas analyst with shearson lehman bros
nissen said that market makers had agreed unanimously with the banks view that auctions would be more easily conducted on a price basis rather than based on yield
infinity broadcasting corp said it entered an agreement to acquire radio stations kvil am fm from sconninx broadcasting co for 82 mln dlrs
wainoco said without redemption of the value rights the company would not have sufficient authorized and unissued shares of common stock to complete the units offering
two warrants are required to allow the holder to buy 100 grammes of gold at a price of 2450 francs during the entire life of the bond
he said paris club creditors had agreed to reschedule bolivian debt over 10 years with five to six years grace while accepting that interest would not be paid until 1989
he said usx was not conducting talks with any other possible buyer of its energy assets
kentucky central life insurance co said it declared a semi annual dividend of 55 cts per share payable march 31 to shareholders or record march 19
manufacturing industrys production fell 1 1 2 pct in january february compared with november december
he said the successful completion of the offer plus shares he already owns would give him 505 pct of necos 962016 common shares
a team of nigerian officials will meet with japanese creditor banks here later this week to seek japanese support for a proposed refinancing of part of nigerias 19 billion dlr foreign debt bankers said
most japanese securities houses and banks established here said they have concrete plans to enter lead management business as soon as terms are cleared probably this year
amoskeag co said its board voted to seek shareholder approval at its april 27 annual meeting of a recapitalization plan calling for the distribution of one class b common share for each common share now held
kentucky central kencao unit sells stations
the two week strike comes as brazil faces a debt crisis and is delaying exports badly needed to earn foreign exchange
symbion said its board and management are carefully reviewing the offer and on or before march 30 will advise its shareholders on whether it accepts or rejects the offer
noranda inc said it agreed to buy an initial 1000501 treasury shares of sanivan group inc at 525 dlrs per share
all bids for wheat were rejected
proceeds will be used to terminate the companys current revolving credit facility
dotronix had income of 659663 dlrs on sales of 71 mln dlrs for the six months ended dec
some 10 pct of that area which gives low yields could be switched to more profitable crops such as oilseeds
government cash balances rose 26 mln dlrs to 265 billion dlrs in week ended june 17
the exemption is to expire the end of 1992
citicorp said if dixons accepted the proposal cyacq would terminate its competing offer for cyclops
there had been some doubts on wall street that the company could meet the payment
guinn also said that capital spending stood at about 18 billion dlrs in 1986 and the company expected the figure to remain flat each year through 1989
the new interest rate of 7 8 pct over libor on venezuelan public sector debt payments goes into effect today finance minister manuel azpurua said azpurua told reporters yesterday the reduction from the previous margin of 1 1 8 pct above libor will save the country some 50 mln dollars in debt servicing
traders said this weeks sharp fall in world sugar prices helped to provoke the soviet union into covering nearby needs
citic in may agreed to invest about 80 mln dlrs in portland
he added ecuador also wanted to make up for 50000 bpd it shipped to caribbean destinations
george weston ltd year net
stanley interiors corp said it filed with the securities and exchange commission a registration statement covering a 30 mln dlr issue of convertible subordinated debentures due 2012 plus an additional 45 mln dlrs of the securities to cover over allotments
tandem computers inc said it expects higher earnings and revenues in its second fiscal quarter ending march 31 against a year ago
spartech corp said shareholders at the annual meeting approved a reverse stock split of the common stock on a one for five basis
the spokesman said the bill was introduced without any changes from the administrations proposal sent to congress last month
pemex will also have some lpg surplus available in salina cruz that may help japan diversify its supply sources of that product he added
gaf which made an unsuccessful attempt in 1985 to acquire union carbide corp uk recently offered three billion dlrs for borg warner corp bor a chicago manufacturer of plastics and chemicals
there has been a lot of talking and loud thinking business leaders said the 17 year rescheduling of commercial bank debt would give president corazon aquino some badly needed breathing space but warned her government was still in the midst of political consolidation
proceeds of 170 mln dlrs from sale of stock and debt were used to reduce balance of revolving credit agreement to 80 mln dlrs
prior year includes extraordinary gain of one ct per share
world oil supply fell in the first quarter by about two mln bpd to 452 mln bpd from 472 mln bpd in last quarter 1986
rep
when trading restarted they dropped sharply to 393p
first boston is offering the notes to the public with a 745 pct coupon and par pricing
soybeans are dirt cheap said lisbeth keefe of cargill investor services whose comments were echoed by other cotton market specialists
shr primary 36 cts vs 31 cts shr diluted 36 cts vs 31 cts net 251 mln vs 217 mln revs 153 billion vs 139 billion avg shrs primary 688 mln vs 689 mln avg shrs diluted 705 mln vs 710 mln nine mths shr primary 132 dlrs vs 113 dlrs shr diluted 130 dlrs vs 111 dlrs net 908 mln vs 776 mln nine mths revs 518 billion vs 458 billion avg shrs primary 689 mln vs 688 mln avg shrs diluted 706 mln vs 710 mln note net is before preferred dividend payments
there are no futures exchanges in west germany
morrison knudsen corp mrn 3rd qtr loss
two hundred people rescued from sinking ferry
arus arscc gets 52 mln dlr order
the spokesman said the march calendar would be flexible to take account of market conditions
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
swiss sight deposits fall 464 billion francs
j
german retail turnover rises one pct in january
government officials have calculated losses to the 1987 budget from last thursdays earthquake at 926 mln dlrs
snow also extended across northern wisconsin upper michigan and northern lower michigan
canadian tire major holders not extending pact
qtly div 15 cts vs 15 cts previously pay may 15 record april 18
economists said the overall data reflected exceptionally bad weather at the start of the year and stricter quality controls imposed on enterprises
shr 29 cts vs 23 cts net 1262000 vs 1002000 sales 499 mln vs 403 mln year shr 118 dlrs vs one dlr net 5205000 vs 4339000 sales 1801 mln vs 1507 mln note prior year net both periods includes gain 900000 dlrs from adjustments to lifo reserves compensation related accruals and a revised effective tax rate
central bankers satisfied with paris accord
stgobain unit issues ecu bond with gold warrants
frn market slumps fixed rate eurobond trade quiet
its negotiators have just initialled a draft accord to restructure payments on 13 billion riyals of bank debt
first interstate bancorp is offering 200 mln dlrs of subordinated capital notes due 1999 with an 8 5 8 pct coupon and par pricing said lead manager goldman sachs and co
weather officials in neighbouring sweden said the icy conditions in the baltic were the worst for 30 years with ships fighting a losing battle to keep moving
mead corp said the outlook for its major paper markets looks strong for the second quarter and augurs well for its earnings in 1987
redemption will be in three tranches on february 2 1997 1998 and 1999
utilicorp recommends three for two split dividend increase and additional class of stock
krenzler said less than 10 pct of the oklahoma wheat crop has advanced to boot stage
parker said a combined purolator and emery would rival united parcel service as the second largest us package delivery company after federal express corp fdx which has 47 pct of the market
pickens is a man who likes a challenge pickens who made an unsuccessful attempt to take over dallas based diamond shamrock corp dia last winter has made no secret of his plans to acquire additional natural gas reserves in the belief that gas prices will stabilize sooner than oil prices
however the company said in a statement good returns from funds placed with investment managers had partly offset higher interest costs resulting from additional lease financing and other borrowing
there will also be an investor put option annually at par
i think theyll be on a very solid base when they make the decision to launch the reforms
stocks of finished goods and raw materials fell sharply in the march quarter and further depletion was forecast for the june quarter the survey said
north vietnam has set a 1990 food target of 23 to 24 mln tonnes
coffee futures under dlr a pound at six year low
correcting units output to barrels day from barrels year
capital expenditure which had been budgeted at over 150 mln stg was cut to 51 mln stg net of disposals
shr 62 cts vs 19 cts net 961826 vs 226429 sales 228 mln vs 161 mln avg shrs 1543230 vs 1172039
londons rise as a trading centre for us government debt has been spurred by the increasing use of interest rate swaps which are now arranged for most new issues in the eurobond markets traders and analysts said
shareholders approved an increase in authorized shares to two billion common and two mln preferred with a par value of 0001 dlrs per share
the volume lent to ecuador would be discounted from its opec quota and would not affect venezuelas he said
in the year to end march 1988 bgc will pay back a further 250 mln stg followed by 400 mln in both 1988 89 and 1989 90 and the remainder in equal instalments of 350 mln over the next two years
the december figure was revised from a provisional 48 billion franc surplus reported a month ago
under the plan its board declared a dividend distribution of one right for each outstanding common share held as of march 16
japan officials see difficulty hitting gnp target
commodity pacts more oriented towards market
gencorp asks shareholders to postpone action in tender offer
cyacqs main equity investor appears ready to pull out and deal directly with us for merely part of the company said dixons
s and p lowered the provinces long term debt to aa minus from aa
supermarkets general owns the path mark supermarket chain and rickels home centres
he said the bank which in the past has concentrated on making loans that assist the basic underpinnings in the developing world such as dams roads and sewers will increasingly make assistance available for economic reform
norfolk southern declined comment but said it stuck with its offer for piedmont
it earlier reported a 587 pct increase in 1986 net profit to 123 billion hk dlrs and announced a final dividend of 14 cents a share
he gave no further details
analysts said rumors were fed by the reorganization of shearson management wednesday
bolivia intends to pay for the repurchase with aid that foreign governments especially the united states and west germany are providing to help finance the eradication of coca crops
ich officials were unavailable for comment
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
attacks on gulf shipping by iran and iraq centered on crude rather than products carriers which has lulled fears of lpg supply disruptions traders said
it requires brokers dealers and investment banks to register with it and comply with investor protection rules and it polices exchanges and regulates trading practices
gencorp rejects unsolicited takeover bid from afg industries wagner and brown
but imports do not seem to be picking up much because the japanese economy remains sluggish he said
the sri lankan cabinet approved recommendations to upgrade the quality of coconut fibre products the government said
citibanks initial step last month was to set some three billion dlrs in a general reserve for potential losses on loans to developing countries
hall and co incs b 1 subordinated notes
analysts have described the held dividend as a move to reassure worried shareholders
coconut product exports fell to 163924 copra tonnes in january from 196610 tonnes in december and 167747 tonnes in january last year government figures show
brazil cotton crop lower usda report
they will be more aggressive this year than they have ever been according to richard loewy analyst for prudential bache securities inc
ccc accepts bonus on poultry to egypt usda
revenues in the quarter fell to 5211 mln dlrs from 7169 mln and in the year fell to 19 billion dlrs from 25 billion in 1985
the strains have not gone unnoticed in washington
i understand the japanese concern
state owned societe generale one of the three leading french banks with a share capital of 1375 billion francs and consolidated assets of 738 billion was added to the list of this years privatisations in february
the additional guarantees increase the vegetable protein meal credit line to 160 mln dlrs and increases the cumulative fiscal year 1987 program for agricultural products to 230 mln dlrs from 150 mln it said
thomas nationwide leases and re markets new and used international business machines corp equipment pacificorp said
he declined to give further details
silver state mining corp said it has corrected its 1986 fourth quarter net income to 485380 dlrs from 528790 dlrs reported earlier today
shr 54 cts vs 53 cts net 4193000 vs 4052000 revs 752 mln vs 639 mln nine mths shr 198 dlrs vs 175 dlrs net 154 mln vs 135 mln revs 2234 mln vs 1995 mln
the two companies agreed earlier this month for klm to take a 15 pct stake in british and commonwealth commuter airline air uk ltd in a deal worth around two mln stg
caesars stock opened up 1 8 point at 28 1 8
the state procurement price for rape will rise 134 pct to 5500 zloties per quintal while wheat and rye will go up an average 182 pct to 3100 and 2400 zloties per quintal
interim dividend already paid was 130 guilders
the chicago board of trade cbot will introduce night trading in its us treasury bond contract on april 30 which could clash with simex morning activity banking sources said
unicorp american corp said it signed a definitive agreement to acquire lincoln savings bank fsb
chicago dock and canal docks 3rd qtr net
zaire pointed out that during four years of imf backed austerity 1983 86 it had become a net exporter of capital without receiving appropriate financing from abroad
holiday inns also sold yesterday via drexel 500 mln dlrs of subordinated debentures due 1999 with an 11 pct coupon and par pricing
the non callable bond is guaranteed by hertz corp
several factors make us move cautiously nainggolan said
pay date is april 6
the median price of a home in january reached 100700 dlrs the first time the price has exceeded 100000 dlrs
today brazils 50000 university teachers in the 42 federal universities launched a national strike with a broad political demand as well as a pay claim
it said rothschild in 1986 originated 500 mln dlrs of mortgage loans and its loan servicing portfolio stands at 14 billion dlrs
the us trade deficit with taiwan and korea is expected to widen this year despite some economic and currency adjustments by the two newly industrialized countries economists said
the international finance corp is privately placing a 50 mln dlr bond due april 7 1997 carrying a 7 5 8 pct coupon and priced at 99 3 4 pct bank of tokyo international ltd said as sole lead manager for the issue
its just one of the steps the executive has begun taking to reestablish financial flows to the country azpurua told reporters at the finance ministry
keller said she expects the company to split its stock and raise its dividend to at least three dlrs a share this year
the prepayments were on a 925 mln dlr nine year loan signed in 1985 which carried a four year grace period
the company has said it is studying options for its shearson unit
a key feature of the rescheduling agreement is that chile will avoid the need for fresh bank loans this year and next by making interest payments to the banks every twelve months instead of every six months
the value of kuwait crude fell 14 cts to 1837 dlrs while iranian light fell 11 cts to 1914 dlrs
shr loss 26 cts vs loss six cts net loss 535110 vs loss 129433 revs 787000 vs 622130
squibb is also investming 75 mln dlrs in cetus research over the next five years
samsung co calendar 1986
the measure now goes to the full house ways and means committee next week but major changes are not expected congressional sources said
he said two floating cranes were unable to begin lifting the sunken tug orinoko and its lighter because the water level had reached 815 centimetres and was forecast to rise to 820 830 cm by tomorrow
argentina sees quick completion of debt deal
suffield financial corp said it has received approvcal from the maine bureau of banking for its proposed acquisition of coastal bancorp of portland maine and the acquisition is expected to close around april one
as part of the paris accord surplus countries such as japan agreed to stimulate their economies while america said it would reduce its federal budget deficit
taft said he was prepared to negotiate a transaction in which taft broadcast shareholders would receive in excess of 150 dlrs per share
stritch also said the companys annual revenues should exceed 60 mln dlrs up from 41 mln dlrs in the previous fiscal year
theres no real market today
nevertheless all 450 seats on simex are now taken with the last trading at 55000 dlrs against the initial price of 50000 dlrs
the proposed system would not alter the ec nations requirements as far as imports are concerned since the overall effect would stabilise community production levels without affecting demand he said
operators took bakers comment to indicate impatience with some g 7 members for failing to stick to the louvre accord due to their fears of increasing inflation
grassleys bill stems from a 1985 decision by the international trade commission that imports from canada of live swine but not fresh chilled and frozen pork were harming us producers
bank of japan governor satoshi sumita said he welcomed mondays us and west german joint confirmation of their commitment to the louvre accord
applied circuit technology acrt 1st qtr loss
most commodity agreements are close to collapse and the debt problem continues to weigh heavily on developing countries bangladesh commerce minister ma munim told officials from 30 asian countries in the group of 77
the bond is available in denominations of 5000 and 50000 dlrs and will be listed in london
harris ups centerre bancorp ctbc stake
love said he believed the real estate loan problems for texas commerce and other major state banks would peak by the third or fourth quarter of 1987
this already exceeds the seven billion dlr ceiling for the whole of 1987 that the government set in june during talks with the international monetary fund aimed at averting a too rapid revaluation of the won against the dollar
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
merrill lynch co managed the deal
baker said that the other signatories recognized that they must carry their share of the load of correcting external imbalances that have hindered the worlds economy
i would doubt they would greenmail them but nothing surprises me anymore said rose
but fuller as well as other analysts expected the report to be less negative on deferred futures contracts
but spanish purchases were up sharply at 258507 tonnes against 2751 tonnes in the same 1985 86 period and portugal bought 37599 tonnes compared with zero
the change reflects the companys improvement in retiring debt incurred in the the acquisition of general foods corp and the ability of both the tobacco and food product lines to generate cash flow duff and phelps said
the main contribution towards resolving the still enourmous us trade deficit is not repeat not a further fall in the dollar is not still more protectionism in your country no it is like in other countries changes in domestic economic and financial policies ruding said
spain raises banks reserve requirement
the fire which started wednesday and burned itself out late yesterday weakened part of the mines support structure coffin said
international consumer brands icbio 1st qtr
the actual capital increase would amount to 27 billion dlrs but usable resources would be less because the callable capital of latin debtors is theoretical and does not take place in practice us officials explained
toronto dominion australia dollar bond increased
mark iv industries inc said it has started the 25 dlr per share tender offer for all shares of conrac corp that it announced yesterday afternoon
twa and usair have also agreed that all litigation between them in pittsburgh and delaware will be stayed until april 23
although banks acquired large amounts of public authority paper public authorities drew down book credits at commercial banks and the bundesbank
hot rolled and cold finished bar wil be increase 25 dlrs per net ton while semi finished products will be increased 15 dlrs per net ton the company said
qtly div 10 cts vs 10 cts prior pay may 22 record may 8
those changes would achieve a portion of the 125 billion but not enough they said
gencorp has agreed to sell its new york area television station wor to mca inc mca for 387 mln dlrs and its los angeles station khj to walt disney co dis for 217 mln dlrs
he said polish products were not competitive and their quality was too low
this work was scheduled to be completed by mid april but this is now being assessed following the hydrocracker accident
oper shr loss five cts vs loss nil ope net loss 1211000 vs loss 2000 revs 6626000 vs 110 mln avg shrs 232 mln vs 235 mln year oper shr profit 12 cts vs loss one ct oper net profit 2632000 vs loss 240000 revs 348 mln vs 520 mln avg shrs 229 mln vs 234 mln note net excludes extraordinary tax charges 1919000 dlrs vs 49000 dlrs in quarter and credits 1431000 dlrs vs 2335000 dlrs in year
oper shr 23 cts vs 77 cts oper net 5255179 vs 176 mln revs 378 mln vs 737 mln note cash flow 195 mln dlrs or 86 cts shr vs 367 mln dlrs or 162 dlrs shr
he told parliament that in the southern provinces the harvest would be over 50 pct down on the level in the previous marketing year
the office said output of the investment goods industries rose 01 pct while consumer goods output increased 06 pct
canadian foremost ltd earlier reporting lower 1986 net profit said negotiations are continuing concerning the previously announced sale of the companys 49 pct interest in macedon resources ltd if concluded the sale would be refelected in the companys 1987 results foremost said without elaborating
scan graphics to merge with public company
kent electronics corp kec 2nd qtr sept 26 net
the communique released in conjunction with the semiannual meetings of the international monetary fund and the world bank said the very low income countries needed a cancellation of debt to industrial countries a conversion of part of their debt into grants and a rescheduling on concessional terms
he said the first quarter results are in line with those expectations
banking sources said that while the bank of england is reluctant to inhibit competition it is willing to accept some constraints in order to ensure that underwriters act prudently
doskocil cos inc said its shareholders approved a one for 10 reverse stock split which is expected to become effective by april 30
to insure adherence the industry ministry and sole tin exporter thailand smelting and refining co would encourage bigger stockpiles and income tax exemptions would be permitted he said
boakes pointed to a rise in the narrow money measure m0 to 52 pct year on year from augusts 45 pct growth which he said must cause some concern at the treasury
mulford rejected gramms argument that faster domestic growth in germany and japan would result in an even lower dollar
governor martha seger said she was concerned that japan was not involved in the uk us effort to draft new capital rules
shr 18 cts vs 14 cts net 556036 vs 403945 sales 156 mln vs 136 mln avg shrs 3132555 vs 2934285 year shr 60 cts vs 48 cts net 1805229 vs 1400247 sales 601 mln vs 523 mln avg shrs 3012917 vs 2940219 note 1985 share data adjusted to reflect three for two stock split effective june 30 1986
if the dollar resumes its slide the ems could be in for more turbulence they predict
shr loss seven cts vs loss 64 cts net loss 367000 vs 3009000 revs 2516000 vs 8787000 avg shrs 4941000 vs 4714000 nine mths shr loss 73 cts vs loss 117 dlrs net loss 3545000 vs loss 4573000 revs 6788000 vs 133 mln avg shrs 4856000 vs 3908000 note prior year net includes tax credits of 63000 dlrs in quarter and 1395000 dlrs in nine mths
first quarter results will be dramatically better he said following a presentation to analysts
he declined to name the companies but said a deal could occur as soon as the second half of 1987
the selling has been steady over the past couple of weeks
this would increase non performing loans by about 380 mln dlrs and reduce income before taxes and net income by about 10 mln dlrs in the 1987 first quarter and 35 mln dlrs for the full year company officials told a press briefing
intnl platinum degussa in joint venture talks
fees consist of 5 8 pct for management and underwriting combined and 1 1 4 pct for selling
this is about the same level as at the begining of the year
we received exactly the same kind of assurances in the softwood lumber case that was totally fumbled and bumbled axworthy said
a sharp fall in share prices in the early 1980s prompted investors to hold on to shares hoping for an eventual recovery
qtly div 25 cts vs 25 cts prior pay may 15 record april 15
nerco said the interest being purchased will give it estimated proven oil and gas reserves equal to six billion cubic feet of natural gas
colombias cost of living index rose 203 pct in february after a 327 pct increase in january and a 315 pct rise in february 1986 the government statistics institute said
tcf banking tcfc files to offer notes
usda says wheat purchased from foreign sellers
thailand exported 84960 tonnes of rice in the week ended february 24 up from 80498 the previous week the commerce ministry said
german finance ministry confident of maintaining currency stability at around current levels spokesman
president jaime lusinchi defended the 203 billion dlr debt rescheduling accord his government recently signed saying it will open new credit flows and bring needed foreign investment to venezuela
dealers said the market was switch and straddle bound in that any pressure on one particular month was certain to be reflected in adjacent deliveries
fricke who estimates 1987 earnings at 780 dlrs and 1988 at 1080 dlrs said cost cutting and new car models will not affect 1987 results
residence inn corp said it has agreed to buy holiday corp out of their equaly owned joint venture for 514 mln dlrs with closing expected within the next few weeks
the bond will be denominated in lots of 1000 ecus and will be listed in luxembourg
nearly half of leucadias common stock is owned by tlc associates a salt lake city utah general partnership whose partners include the chairman and president of leucadia and other investors
the new contract to start trading on june 1 is lmes first dollar contract
avinda video inc said its debenture holders agreed to convert 33 mln dlrs of 13 pct subordinated debentures to common stock at a conversion price of 40 cts a share subject to shareholder and regulatory approval
ec cold aid food scheme may be made permanent
the report dated february 26 said there is evidence of delayed germination in most areas due to late seeding last fall because of dry conditions
the study by the non partisan congressional research service crs said the proposed merger appears to comply technically with the mandates or letter of statutes if may nevertheless violate the spirit of the law comsat created by a 1962 act of congress and contel a corporation of local telephone and communications firms filed with the federal communications commission last november 3 an application for merger
indonesia sees cpo price rising sharply
authorities favour reinterpreting the credit law to fit present circumstances in order to avoid the long parliamentary political process of changing it banking sources said
daily turnover in the tokyo spot market ranges between one and 10 tonnes with the average around three tonnes while futures turnover amounts to about four tonnes gold dealers said
merchants group inc mrch 4th qtr oper net
in the us 1986 petroleum production responded to lower prices increasing about 25 pct or 400000 barrels per day bpd said js simon general manager of the supply department at exxon corp xon the nations largest oil company
under the agreement the companies said continental will acquire general tire including its related domestic and foreign operations and gencorp will retain liability for the medical benefits of retired general tire employees who retired on or before november 30 1984
bilzerian told he believes his offer is superior to a leveraged buyout proposal disclosed in an announcement by the company this morning
it also said its first quarter earnings ended march 31 which it said it will release later this month will be similar to its fourth quarter earnings last year
marathon raises crude oil postings 50 cts bbl wti now 1900 dlrs
mulford sees more bank loans to debtors in 1987
slough estates views 1987 prospects confidently
deutsche later confirmed the details and added the issue would be sold in denominations of 1000 and 10000 marks
grain mill product loadings in the week totalled 10920 cars up 01 pct from the previous week and 127 pct above the same week a year earlier the association said
spain had a 68 mln dlr current account balance of payments surplus in january compared with a 556 mln deficit in december and 370 mln surplus in january last year bank of spain figures show
in turn he added the united states would like to change some of the procurement requirements that exist at the provincial government level in canada
market talk and comment the usda said turkey has been made eligible for the sale of up to 70000 tonnes of medium grain milled rice under the eep market talk and comment continued the usda announced colombia has been made eligible for sale of up to 15000 tonnes of us barley malt under the eep the canadian grain commission reported canadian wheat exports in the week ended march 29 totalled 447200 tonnes compared with 277700 the previous week with 1986 87 season exports so far up to 10228600 tonnes versus 10637500 for the 1985 86 season with barley exports 38800 tonnes 106700 tonnes 4804500 and 1892600 respectively rapeseed 43900 tonnes 50700 tonnes 1292600 and 920000 respectively and flaxseed 20700 tonnes 13600 tonens 450900 and 392600 respectively market talk and comment continued pakistan is not emerging as a major wheat exporter as world market prospects are not good enough a government official said active timecharter fixing by soviet operators to cover ussr grain imprts featured the ocean freight market this morning ship brokers said dry cargo futures on the biffex extended yesterdays strong advance with sharp gains of 22 to 17 points in response to rumors of higher rates for grain business from the us gulf to japan dealers said
anchor glass container corp said first quarter net income is now expected to exceed the 31 mln dlrs earned before extraordinary items in the year earlier quarter
after expanding in the early 1980s ugandas economy has suffered setbacks since 1984 of falling industrial and agricultural output and accelerating inflation the fund said
and indeed note traders said the frn portion of the repackaged securities which westpac has offered to redeem for cash in 15 years does have real value
st
meanwhile the value of exports of agricultural products from the netherlands in calendar 1986 fell 54 pct to 487 billion guilders from 515 billion in calendar 1985 figures from the ministry of agriculture show
arbitrageurs said the conversion formula yielded a negative number and thus they needed further information from the company
final terms will be fixed on april 15
magnetic technologies corp mtcc 1st half net
canada outlines gatt agricultural reform plan
the issue of gulf oil imports was not discussed at the ministers meeting he added
the treasury said future cts issues likely would be certificates longer than seven years
production quotas set for the first time in 1987 88 had been submitted to president corazon aquino
the plan calls for payment of about 15 mln dlrs in cash and the issuance of a new class of preferred stock by ormand industries
it said corn producers will receive about 515 mln dlrs and sorghum producers about 85 mln dlrs
the company said research spending is running 50 to 60 pct above a year ago as it tries to commercialize its products as quickly as possible and increased expenditures are expected to continue for several more quarters
he said auctions of treasury bills whose outstanding level touched 9544 billion pesos on may 20 were going well
federal reserve chairman paul volcker too spoke recently of debt fatigue and the need to breathe new life into debt rescheduling procedures
cacex the foreign trade department of the federally owned banco do brasil has told companies they must limit their imports to 90 pct of what they imported in 1985
the tender quota in april september is 10 pct of the agencys beef import share
new eep durum wheat offer to algeria usda
shr loss 648 dls vs profit 23 cts net loss 1106 mln vs profit 41 mln revs 740 mln vs 1520 mln year shr loss 652 dlrs vs profit 387 dlrs net loss 1112 mln vs profit 642 mln revs 5010 mln vs 7760 mln
centronics corp said its board declared a dividend distribution of one preferred share purchase right on each outstanding common share payable to holders of record april 9
dravo further said it has given the investor group buying dravos river transportation stevedoring and pipe frabrication businesses additional time to structure the necessary permanenty financing and closing is now expected in the third quarter
jacobs takes majority stake in cote dor
1985 4th qtr includes gain of 178000 dlrs for exchange of telephone inventory for barter credits
first quarter sales in domestic markets advanced 115 pct to 688 mln dlrs while international sales jumped 271 pct to 316 mln dlrs abbott said
it is also seeking to extend 12 mln dlrs of mortgage payments due this year and is in talks to extend other debt payments
howard macdonald said in a statement
banks must make their bids by 1400 gmt today and funds allocated will be credited to accounts tomorrow
they said the financial rand in particular was being driven by a tentative provision in the new debt agreement that could favourably affect the currency
the department said the bonus awarded was 10582 dlrs per tonne and the wheat flour is for shipment july 1 10 1987
baii which is 50 pct arab owned is looking to expand its activities in the far east and recently established a wholly owned merchant banking subsidiary in hong kong the spokesman said
the shipment was part of a contract signed in february for the saudis to supply brazil with 125000 barrels per day until june
bormans brf to buy safeways utah division
pakistan cotton production during the current crop season sept march reached 77 mln bales of 375 pounds each up 500000 from last season shafi niaz chairman of the agricultural prices commission said
in addition to the purchase price csr will share equally in any returns due to increases in crude oil and condensate prices over certain levels for liquids produced from delhis interests in the next two years the statement said
shr 70 cts vs 54 cts net 167 mln vs 125 mln revs 3436 mln vs 3231 mln avg shrs 239 mln vs 248 mln nine mths shr 198 dlrs vs 123 dlrs net 469 mln vs 278 mln revs 9605 mln vs 8932 mln avg shrs 242 mln vs 249 mln note 1986 figures reflect the adjustment for 3 for 2 split in may 1987
transco exploration partners ltd said participation in 14 new discoveries increased its proved gas reserves to 5581 billion cubic feet in 1986 up from 5415 billion cubic feet in the previous year
under the 1985 bill the percentage of food aid shipments carried on us vessels was to increase gradually over three years to 75 pct in 1988 from 50 pct
cumulative shipments for the first five months of the october september wheat year were 612 mln tonnes as against 654 mln a year earlier the official said
in testimony prepared for delivery before a senate banking subcommittee mulford said there was broad recognition in paris that further substantial exchange rate shifts could damage growth and adjustment prospects but he also said while there are clear understandings among the countries regarding cooperation we have refrained from establishing a system of target zones or ranges mulford also said the six nations have not spelled out the way in which they intend to deal with possible market developments
he also said import barriers and trade monopolies in the agricultural sector were needed to help domestic industry develop and because of over production and price intervention in the developed nations
earlier today the company told a meeting of investors here that the first quarter loss would be 20 cts a share
kohlberg kravis has 96 pct owens illinois oi 
jannock jnto acquires half stake in printer
it said the workers represented by united steelworkers of america would receive a 121 dlr an hour pay raise over the life of the new contract and improved benefits
etl and its feltex international ltd associate have targetted the building products sector as an area of expansion and monier fits well with this aim he added
officials declined to identify the two offers
most dealers were cautious in the face of the dollars nosedive today and the possibility of a us interest rate rebound to halt further dollar depreciation
the bank issued 20 billion dlrs of similar bonds between february 16 and march 9
greenblatt said he bought the stock for 350000 dlrs soley as an investment and has no intention of seeking control of the company
the report says the most that can be afforded over the next few years is a zero growth of real non interest expenditure of general government it says there is a need for a revision of the belgian tax system to iron out distortions and meet hopes of a reduced tax burden but substantial progress is needed in stabilising the debt to gnp ratio before this is possible
shr loss 39 cts vs loss 483 dlrs net 163 mln vs loss 2230 mln revs 474 mln vs 307 mln nine mths shr loss 337 dlrs vs loss 730 dlrs net loss 1516 mln vs loss 3403 mln revs 1189 mln vs 1618 ml note 1987 qtr includes loss 1500000 dlrs for mobilization costs associated with two offshore drilling rigs
gabelli said he amended certain filings with the securities and exchange commission because his clients are now passive investors
a spokesman for the firm linked the rise to two aircraft deliveries in 1986
it said completion of the transaction would give knoll 15 pct ownership in american savings
sudan burdened by a foreign debt of 106 billion dlrs is some 500 mln dlrs in arrears to the imf which declared it ineligible for fresh loans in february last year
if you want to import lpg from saudi arabia on a profitable basis you have to set the price factor at 80 to 85 pct said an official at a major importer
the committee approved an amendment offered by rep
the agency confirmed bank of americas baa 1 long term rating and prime 2 short term rating as well as seafirsts ba 1 senior debt and seattle firsts short and long term ratings of baa 1 and prime 2 respectively
the companies are nippon steel corp nstct sumitomo metal industries ltd smitt nippon kokan kk nkktt and kawasaki steel corp kawst which together account for some 95 pct of japans total seamless pipe exports
shr 52 cts vs 43 cts net 177 mln vs 142 mln sales 4131 mln vs 3616 mln avg shrs 343 mln vs 303 mln nine mths oper shr 158 dlrs vs 66 cts oper net 539 mln vs 267 mln sales 122 billion vs 108 billion avg shrs 335 mln vs 352 mln note 1986 nine mths net includes 206 mln dlr provision for restructuring but excludes 850 mln dlr gain on sale of discontinued glass business and 1330000 dlr gain from discontinued operations
he said the merger lost a lot of its appeal when the us department of justice required that baker sell off its reed tool co operation
talking point gold
viacom international inc said it received revised merger offers from national amusements inc and mcv holdings inc the company said the special committee plans to meet later today to review both offers
westworld community health wchi 4th qtr loss
colombia recently bought 25000 tonnes of french soft wheat at 108 dlrs per tonne c and f for end april shipment trade sources said
allisons place inc president marvin schenker said company owned stores sales for february increased 82 pct over the same period last year
the bond will be available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
equiticorp holding in guinness reaches 5993 pct
reichhold chemicals inc said it is part of a group that has purchased pcr inc from hanson trust plcs scm corp subsidiary
cyacq corp said it terminated its february six tender offer for cyclops corp
that compared with a median price of 94600 dlrs in december and 94000 dlrs in january a year ago
if the bank invokes such swaps both parties would announce the decision jointly said the first official
argentine grain shipments in the week to april 1
its an arithmetic thing official figures show philippine inflation averaged 08 pct in calendar 1986
japan firm plans to sell us farmland to japanese
the yield of 1986 87 maize continued to be forecast at between 99 and 101 mln tonnes
last year it exported an average of 173500 bpd according to the central bank
another objective is to improve the efficiency with which hydrocarbons are used by pakistans water and power development authority wapda in power production it said
geodome said a new ore zone discovered last summer is not included in reserve calculations
the nine closed stores which had pretax operating losses of 17 mln dlrs in 1986 are being sold to provide cash for operations
national computer nlcs sees earnings growth
minnesota power and light co is raising 55 mln dlrs through an offering of first and refunding mortgage bonds due 1994 with a 7 3 4 pct coupon and par pricing said sole manager painewebber inc
keller said that she expects the companys 1987 earnings to rise to between 1350 to 14 dlrs a share as compared to 1232 dlrs a share earned last year
shr profit six cts vs profit 17 cts net profit 269000 vs profit 833000 revs 280 mln vs 308 mln nine mths shr loss 416 dlrs vs profit 74 cts net loss 200 mln vs profit 3543000 revs 931 mln vs 1177 mln note current qtr net includes writedown of 204 mln dlrs of net investment in companys oil and gas properties
the fed staff said the risk gauge attempted to balance conflicting needs for precision and simplicity
venezuela backs increase in ecuador opec quota
swiss corp for microelectronics and watchmaking industries said it has acquired international time corp from privately held timex corp for undisclosed terms
under terms of the offer morgan said it has set up a special purpose financing company pacific securities co ltd which will issue two separate securities
sorghum use totalled 339013 tonnes in january against 459067 in december and 412743 a year earlier and its compounding ratio was 164 pct against 178 pct and 198 pct the ministrys figures shows
the philippine 1987 inflation rate will rise to 48 pct from 074 pct in 1986 if the government implements an employers association recommendation for a 10 pct increase in the 54 peso minimum daily wage this month economic planning secretary solita monsod said
price co pclb 2nd qtr march 15 net
the acquisition was pursuant of a chapter 11 reorganization plan of american adventure
egypt for its part has been holding talks with the imf aimed at reaching a final accord on a new one billion dlr loan package with the united states pressing for a quick deal according to the sources
fed expected to add reserves
but he admitted that the largest third world debtor brazil was clearly an exception
gould inc said it has completed the sale of its french battery business compagnie francaise delectro chimie to a group of investors including the units employees and gnb inc of minnesota
the narrow currency movements of recent weeks strongly suggests the six leading industrial countries have tamed the normally unruly financial markets and next months talks seem likely to build on that stability
other export dependent industries such as cars and textiles have laid off part time employees and ceased hiring economists said
the nanfang daily said production in guangdong province fell to estimated 192 mln tonnes from 196 mln and that the area under sugar was dropping
qtly div two cts vs two cts prior pay may 26 record april 21
the offer is worth 223 billion dlrs
british aide criticizes usprotectionism
the bidders for the company were british aerospace plc baell and engineering group gkn plc gknl royal ordnance sold its leeds tank factory last summer to vickers plc vickl defence electronics manufacturer ferranti plc fntil and shipping and property group trafalgar house plc thsll both pulled out of the bidding shortly before last months deadline
harcourt brace has offered 220 mln dlrs for harper and row publishers moodys noted
but even some government borrowers were not getting the best reception for bonds which would have been taken up more readily under other conditions
dart said another issue was to agree to future severance obligations and future salary guarantees for top management estimated at more than 15 mln dlrs in excess of obligations under the companys present policy
the agency cited chemicals relatively large exposure to latin american borrowers particulary brazil and mexico continued high levels of nonperforming assets and the pending acquisition of texas commerce
us treasury secretary james baker said over the weekend that the paris pact did not encompass fixed tragets for the dollar
usg usg sells 10 year notes at eight pct
dome pete dmp takes 208 billion dlr writedown
the bank said the forecast rise is due to an increase in floating deposits due to recent low interest rates and a shift to private banks from the bank of japan of 400 1000 billion yen by the recently privatised japanese railways
april crude closed 24 cts higher to 1775 dlrs
the spectacular improvement in the budget deficit had also attracted little attention he said
to keep it a secret is part of our strategy he added
other former chairmen include william douglas who served from 1937 until his appointment to the us supreme court in 1939 and william casey who served during president nixons first term and was reagans director of the central intelligence agency until his death earlier this year
but it said there are no plans to merge gulfstream and electrospace
foothill group inc said it reached a standstill agreement with santa cruz resources inc and its parent sierrita resources inc that bars the companies from acquiring more than a 30 pct interest in foothill except through a business combination approved by foothills board
but todays stock market collapse prices fell nearly 15 pct means that the bank of japan would be hard pressed to raise the discount rate now despite its concerns about a renewed outbreak of inflation dealers and economists said
bigelow said the company will always have a share buyback program in place whenever it believes it is a better long term investment than starting or acquring a business
dutch dairy and general foods manufacturer koninklijke wessanen nv wessas said it is planning further world wide acquisitions and forsees strong profit growth over the next 10 years
but he added that would be a statistical aberration and not a significant shift in economic activity
bramall to acquire gelco for up to 263 mln dlrs
nz ports reopen but further closures possible
transco exploration partners ltd exp in payout
undertone was very firm with dealers expecting a positive fiscal package tomorrow and if not more good economic news to boost sterling at least confirmation of the bull factors which have bolstered eurosterling and gilt edged bonds lately
nippon life would be entitled to nominate two directors to the shearson board and one representative to serve as an adviser to the american express board of directors
thirteen provinces mainly in northeast and eastern thailand have been suffering a worse than average drought since mid february and the dry spell is expected to last until early may deputy interior minister santi chaiviratana said
nor quest nqrlf makes bid for northair nrmto 
japan development bank is not allowed to raise euroyen
south korean demand for imported ethylene this month has risen to 17000 tonnes from 10000 last month and the country may face difficulties covering the extra volume they said
nicaraguan foreign trade minister alejandro martinez cuenca was in london to brief international coffee organisation ico executive board producer members after a meeting last weekend in managua attended by eight latin american coffee producers to discuss the fall in coffee prices
funaro was in britain on the first leg of a tour of european capitals to explain the motives of the brazilian debt moratorium and to seek support for intiatives to improve capital flows between developed countries and third world debtor nations
the four who make up the economic policy council are expected to consider evidence presented by us chip maker micron technology inc dramo of cut price japanese sales in hong kong
yeutter repeats retaliation threat on ec oil tax
the administration said it opposed the bill because by expanding the 400 mln dlrs in disaster relief it would thwart efforts to encourage farmers to buy crop insurance as an alternative to federal disaster assistance
the note is accompanied by 90000 warrants priced at 220 francs exercisable for five years into an 825 pct 10 year non callable bond
crude for delivery in may closed 17 cents higher at 1884 dlrs a barrel
fall in canadian budget deficit to slow
i am afraid this time we have to give more than take from our talks with the us he said without elaborating
they said volcker did more than any other official to hold the financial system together when mexico halted interest payments in august 1982 and has played a central role ever since
the us has said it will not agree to any coffee quotas unless objective criteria which reflect recent changes in the coffee market are used to set export limits
campeau corp and the edward j
the company established here in 1981 undertook to hold gold on deposit for investors
earlier the companies said squibb would buy from cetus a five pct equity postion in cetus for about 40 mln dlrs
phenol is used to make phenolic resins and adhesives for engineering plastics the company said
the complaint seeks among other things to enjoin the tender offer and to require mts and sosnoff to correct false and misleading statements in the offer
wolverine said it will concentrate its effort in the athletic footwear market in its brooks footwear division
toshiba corp tsbat will reduce april 256k dram production by 1667 pct to just over four mln and is considering ways to boost imports a company official said
messidor ltd said it signed a letter of intent to acquire 100 pct of the outstanding shares of triton beleggineng nederland bv a european investment portfolio management company
cxr cxrlo torotel trtlo to settle suit
first marathon inc said it planned a two for one stock split to be effective on shareholders approval at the june 4 annual meeting
altex said it expects to close the transaction which is subject to financing in july
gary chapmann a cash livestock trader for chapmann and graham in sioux city iowa said he believed the general trend is to lighter weight placements but pasture conditions in his area benefited from a dry mild winter
shr 96 cts vs 53 cts net 8663000 vs 4798000 revs 897 m ln vs 668 mln nine mths shr 233 dlrs vs 167 dlrs net 211 mln vs 151 mln revs 2413 mln vs 1928 mln
foreign share in japan bond syndicate boosted
last week taft rejected a 145 dlr a share bid by theta an investment group headed by tafts vice chairman dudley taft
the bonds would be redeemed over the next two years and their interest rate would be set by the central bank
this fell to 76000 in 1986 and this year its quota is only 37000
earnings per share dropped to 151 dlrs from 162
bfgs parent credit volume eased to 3263 billion marks in 1986 from 3351 billion
analysis that the gao has obtained from the agriculture department and the office of management and budget suggests that certificates cost more than cash payments a gao official told 
rains help us western corn belt more seen
some us officials believe japan may eventually be willing to scrap the quota on fresh oranges because liberalized trade would not necessarily damage the japanese mandarin orange industry
it operates more than 1300 stores in 20 states
taiwan is not expected to export sugar this year because of falling production and growing domestic consumption state owned taiwan sugar corp said
house speaker backs oil import forecast plan
about 300 people were present despite an overnight snowstorm
deputy agriculture secretary peter myers and under secretary daniel amstutz also attended the 30 minute meeting
officials said china would borrow 25 to 30 billion dlrs in the 1986 90 five year plan period but foreign bankers said they estimate foreign loans at 30 to 40 billion
the us agriculture department is not actively considering offering subsidized wheat to the soviet union under the export enhancement program eep senior usda officials said
if it is approved the new rates could go into effect as early as this summer
federal withheld income taxes were up in february from a month earlier but that was offset by declines in federal nonwithheld taxes and lower state and local income taxes
japan is doing all it can to solve its trade problems with the united states but the two nations will remain at odds as long as the trade account is lopsided in japans favour a senior official said
the brazilian government announced in february its intention to stop paying interest temporarily on its long term public and private sector commercial bank debt
supplies there have been very tight this year and there is a strike at one major producer cominco and labour talks currently being held at another noranda subsidiary brunswick mining and smelting ltd
frankfurt and zurich dealers saw the dollar staying broadly entrenched in its current trading range
south atlantic financial corp soaf 4th qtr
the issue is also being lead managed by credit lyonnais
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
it had profits in 1984 and 1983 but a loss 1712 mln in 1982
sumita said the bank will take adequate measures including market intervention if necessary in line with the february 22 paris agreement by six major industrial nations
st lawrence seaway to open on schedule
neither the ecgd nor the bank of england would comment on the plan
in sweden where beet is grown just to meet domestic demand the planted area is seen little changed at 51000 ha against 51300 last year according to a spokesman for sugar company svenska sockerfabriks ab
entertainment marketing tops crazy eddie offer
sugarcane and beet growers would be compensated by the government for the price support cut with targeted income payments over the four years 1988 to 1991
gm gm canada sets one week layoff
first boston won the bonds in competitive bidding
japan depends on imports for more than 90 pct of its aluminium demand which totals some 18 mln tonnes a year they said
the reserve bank of australia this morning cut the rediscount rate from 1730 pct to 1700 pct
soybeans produced in the united states face a competitive price problem because of the loan rate provisions of the 1985 farm bill us undersecretary of agriculture daniel amstutz said
group lifts stake in suave shoe swv to 115 pct
philippine coconut chief to lobby against ec tax
the purchase included 51880 tonnes for may shipment and 73843 tonnes for june shipment
after averaging 621 pct yesterday federal funds were opened at 6 1 8 pct and remained at that level
the bank had not paid foreign exchange to private firms since it suspended the weekly auctions on january 28
since november 27 the bank has confined activities to the winding up of affairs bank of british columbia said
today citicorp said its first quarter income would be reduced by 50 mln dlrs after tax if it lists the loans as non performing status
at 233 dlrs cif the sugar sold this week was at a discount of up to 10 dlrs to current prices some traders said
colt industries cot to sell british unit
these figures were down by 125 pct on last year in dollar terms due to exchange rate fluctuations and changes in how the figures were calculated fso sources said
canbra foods ltd earlier reporting a 1986 net profit against a year ago loss said it declared a special one time dividend of five dlrs per common share pay march 31 record march 26
the treasury proposed allowing temporary imports of south african uranium ore and uranium oxide until july 1 under certain conditions pending clarification of anti apartheid laws passed by congress last fall
but he said the fed may well foster higher interest rates soon
changes in ec areas reflect the extent to which producers will grow so called c sugar for unsubsidised sale to the world market
belgium details pricing plan for ecu gold coin
the difference in the price the state run sugar and alcohol institute iaa pays local industry and what it receives from foreign buyers costs the government some 350 mln dlrs a year
irans discounted sales have not however managed to reverse the bullish tone in the crude oil and products spot markets oil traders said
qtly div five cts vs five cts prior pay june two record april 27
thomson mckinnon units cmo offering priced
oper shr 29 cts vs eight cts oper net 222143 vs 76605 revs 4872279 vs 3276404 12 mths oper shr 17 cts vs 28 cts oper net 111280 vs 301623 revs 139 mln vs 111 mln note 1986 yr figures excludes extraordinary item of 574363 dlrs or 60 cts per share for termination of its non contributory pension plan
i think that there has been a falling off in the market so i think there is a moderate slow down in the price now zimmerman said at a media briefing
enterra corp en 4th qtr loss
ongpin wants 5 8 point over the benchmark rate which is currently hovering around 6 1 2 pct
triangle home products inc thp 4th qtr loss
mead corp said it filed a shelf registration with the securities and exchange commission covering potential debt securities offerings of up to 150 mln dlrs
the company said that in early april its oak brook hills hotel and conference center in suburban chicago will open under its management
uk industrial output rises in january
it also received a reduction to 600000 dlrs from 16 mln dlrs of its total charter guarantee for the regent sea and regent star
but not all oil companys welcome the introduction of another grade of unleaded gasoline
exxon co usa said it is extending marketing of its mid grade unleaded gasoline exxon plus into the houston and dallas fort worth metropolitan areas beginning early next month
credit lyonnais will lead manage a 12 billion franc issue for the caisse centrale de credit cooperatif
in an attempt to help opec stabilize the world market egypt cut its 1987 production target of 940000 bpd to its current output of 870000 bpd
security pacific corp said it is placing medium and long term loans to brazil and ecuador on a non accrual basis as of march 31 a move that will reduce first quarter earnings by 72 mln dlrs or nine cts per share after taxes
indonesia bought 162500 tonnes of raw sugar on world markets in late 1986 the report said
it said the new areas of weakness are west germany and the smaller european countries it influences and japan hardest hit by currency appreciation this year
douglas said it was too early to project whether the anticipated fourth quarter performance would be enough for us to exceed the prior years overall earnings of 153 dlrs a share
baldrige says changes needed in exchange rates of currencies pegged to dollar
union pacific unp to sell part of refinery
singapores m 1 money supply rose 27 pct in january to 1009 billion singapore dlrs after a 37 pct increase in december the monetary authority of singapore said
ohio mattress co omt 1st qtr feb 28 net
us hosuing completions fell 02 pct in january
a carling official later said in reply to an inquiry that carling would record the extraordinary gain in its fourth quarter ending march 31
shr 57 cts vs 27 cts net 1002000 vs 470000 sales 159 mln vs 120 mln note 4th qtr figures not given
bfg posted extraordinary earnings from the sale of 2501 pct of volksfuersorge deutsche lebensversicherung ag 749 pct of bsv bank fuer sparanlagen und vermoegensbildung ag and five pct of allgemeine hypothekenbank ag the sale was linked to ambs acquisition of a majority of bfg
great lakes federal glfs hikes dividend
metropolitan police told reporters the four arrested put under six month pre trial detention owed nearly 507 mln taka the equivalent of about 17 mln dlrs to bangladesh shilpa industrial bank
the payment date is may 14 and the coupon date may 15 amro bank said
final closing is expected in the third fiscal quarter ending june 30
westar mining ltd 4th qtr loss
chrysler c in deal to buy amc amo 
the officials asking not to be identified said the government will investigate an industry contention that steel imported from countries such as south korea and taiwan is being diverted to the us and ultimately exasperating concerns about the level of canadian exports south of the border
nbc said its proposal contains assurances that there is no intention to replace regular employees with daily hires nbc said regular employees who may be on layoff would be offered employment first
this year current exchange rates were used for the first time instead of a fixed rate of 2453 dinars to the dollar
interest rate and currency swaps and currency options are under closest scrutiny and if revisions are made they may resemble regulation jointly proposed by the us and uk to japan
more
under the ruling credits given by banks or their subsidiaries to groups or individuals holding five pct or more of the banks capital must not exceed defined limits
china gets 974 mln dlr world bank loan
dutch state owned chemical group nv dsm is launching a 150 mln guilder dual currency bond with a 7 1 4 pct coupon due 1992 and priced at par lead manager algemene bank nederland nv said
miti officials who declined to be identified said the ministry has not yet decided on the extent of the second quarter cutback
a new method of calculating swedens unemployment figures reduced the number of jobless by a sixth a spokesman for the central bureau of statistics scb said reporting a substantial drop in the past year
gencorp has ba 2 subordinated debt
the taiwan dollar has appreciated by almost 15 pct against the us currency since september 1985 further encouraging speculators
shr 51 cts vs 56 cts net 5645000 vs 6153000 revs 459 mln vs 453 mln
some experts worry the central banks have lost more than just a temporary battle to prop up the dollar
an big expansion in bilateral trade is expected as a result of swedish prime minister ingvar carlssons visit to china a official of chinas foreign economic relations and trade ministry official said
jefferson reported a 15 mln dlrs loss and assets of 360 mln dlrs for the year ended september 30 1986
americus trust byu byp initial qtrly div
but marcano said the bulk of payments to be made this year are on private debts and non rescheduled public debts
soviet union to import more grain in 86 87 usda
the official figure for 1985 86 is 71 mln tonnes 56 to 99 pct below this seasons new estimates
countertrade accounted for just five pct of indias 2565 billion dlrs in trade during fiscal 1985 86 ended march against almost nothing in 1984 85 official figures show
norman robertson mellon bank chief economist called the markets instability frightening
dart said this payment was intended for the three officers severance agreements although there was an implication that lieberman and dougherty would be leaving the company of their own volition
but economists say members such as west germany have so far blocked a second stage of development envisaged by the systems founding fathers ex west german chancellor helmut schmidt and former french president valery giscard destaing
european trade sources said the conference welcomed the canadian initiative but some delegates and not only the european community voiced reservations about some of the principles
ivory coast did not participate in the last international cocoa pact and its decision to join the new accord has sparked hopes that it will be more successful in supporting prices
immucor blud splits stock
it had previously said the quota system started in 1980 should be wound up completely by the end of next year
market participants here expect a clearing organisation to be set up by the time they have substantial deliverable cash issues making overseas listings probable in the latter half of 1987
electromedics elmd to take 1st qtr charge
world grain trade could be turning the corner and heading toward recovery in the 1986 87 season a cargill inc
lce and ipe elect first traded options members
the company said europe craft designs imports and distributes menswear and sportswear under the members only brand name
pesch sees shareholder support in ami ami bid
an additional 7959 head of dairy cattle are still available to egypt under the export enhancement program initiative announced september 12 1986 it said
speaking last night at a new session of congress he said last weeks agreement to reschedule 21 billion dlrs in public sector foreign debt at lower interest rates reflected venezuelas improved credit image
berry petroleum norris oil noil to merge
diamond shamrock joined sun co coastal citgo and murphy oil in raising crude oil posted prices one dlr a barrel yesterday
german finance ministry confident of maintaining currency stability at around current levels spokesman
the bonds will be listed in london and will be issued in denominations of one mln yen
but debate on the budget has been delayed by an opposition boycott of parliamentary business over the proposed imposition of a five pct sales tax and the government has only a slim chance of producing a meaningful economic package in the near future the dealers said
altex aii sets acquisition of computer firms
for the full fiscal year the company said it earned about 775000 dlrs or 34 cts per share down from 1402000 dlrs or 76 cts per share a year before
everyone is convinced the buffer stock rules should be in place by friday so the buffer stock can be put into operation monday a consumer delegate said
that is 87 basis points more than the yield of comparable treasury securities
ranco will be transferred to one of siebes us subsidiaries robertshaw controls co
finance minister roger douglas said eight bond tenders of 250 mln dlrs each are planned for the year ending march 1988
the medium and longer term interbank rates firmed today with three months ending at 5 1 16 to 4 7 8 pct against yesterdays five to 4 13 16 close
i think gaf is looking at the company the way were looking at it that its worth more pershing and co analyst richard henderson said
robert durham said
most of 1986 was a virtual free for all in production as opec members abandoned restraint in an effort to recapture their share of the market
we cannot afford not to continue with our plans
yugoslavian bank gets 90 mln dlr world bank loan
ibm was trading up 7 8 at 149 1 2 dlrs
the smoothed deficit on invisibles fell to 226 mln from 237 mln revised from 250 mln in december and 234 mln in the year ago period
the bank is widely expected to expand its reporting requiremenmts for unsettled trades requiring firms to report unsettled when issued trades one day after they occur
he said that of the banks estimated 25 financially troubled sovereign debtors about one quarter were latin american countries
not only the official statistics for the fourth quarter but evidence of a pick up in orders from overseas for paper products chemicals high tech goods and capital goods show that trade is improving benderley said
the total excluded losses of 30 mln dlrs on discontinued operations
i myself believe that opec will tend to take a position to strengthen the gains we have made so far lukman said
japans jobless seen rising to 33 pct in 1987 88
the sharp rise in turnover reflected the groups acquisition of the loss making screg construction group last year
industrial production stood at 1273 pct of the 1977 average in february and was up 17 pct from a year ago the fed said
the suit grew out a meeting of several dozen dissatisfied minority stockholders of avia following the announcement of reeboks proposed acquisition of avia and the sudden drop in the price of avia stock
lone star lce to add five cement terminals
there were no wheat or soybean shipments during the week
pakistan consumer price index falls in january
du plessis said the banks were showing much more confidence in the south african economy and country as a whole
he terms of the transaction were not disclosed the company said
meanwhile a un spokesman said that as far as he knew a report to the council and secretary general javier perez de cuellar on the action had not been received from the americans
pay date is may 7
it said apollo partners was recently organized by three former senior viacom inc via executives terrence a
no australian treasury note tender next week
allegheny international ag sells wilkinson
usx x consolidated natural cng end talks
toyo trust issues 100 mln dlr convertible bond
spain gives cuba 25 mln dlr credit line
canam manac wins 85 mln dlr contract
united also said it plans to acquire some of these notes to reduce its exposure to foreign exchange fluctuations
first data management fdmco completes merger
chicken not main salmonella cause official says
the english language daily said bigger export earnings were needed to finance not only imports but also the countrys growing foreign debt estimated at around 37 billion dlrs
there seems to be no desire to change the farm law were working under today and this report should reinforce that frazier said
hughes ht changes stance on merger after suit
it attributed last months rise to several factors including subsidy payments to farmers and government pay raises
under the agreement sudan will receive 50 mln dlrs for the commodities and the rest for sea transportation
shr loss 28 cts vs profit seven cts net loss 931000 vs profit 7000 revs 23 mln vs 20 mln nine mths shr loss 55 cts vs profit seven cts net loss 1619000 vs profit 185000 revs 77 mln vs 71 mln note shr figures adjusted for issue of 600000 shares in october 1986
asked to comment michael samuels us ambassador to the gatt told these charges have been made since the very beginning
average shares increased to 102 mln from 99 mln a year earlier
pioneer recommended in a statement that shareholders retain their stock pending the boards response once it receives full details of the csr offer
it has been successful and continues to be succesfull a senior us treasury official told reporters
rumors that ussr buys us corn traders
the farny r
foreign ships may also suffer if dock workers join the action he said
they said the imports are due to come in as a result of the accord by which the ec has promised the united states it will import two mln tonnes of maize and 300000 tonnes of sorghum into spain from third countries this year
neither of those companies would comment nor would the wendys official
north rhine westphalia issues 12 billion mark bond
moreover the yen is benefitting as japanese entities who have invested heavily overseas for example in australian financial instruments repatriate their profits ahead of the end of the japanese fiscal year on march 31
funaro noted that inflation in february had started to decline again and he expected brazil to achieve a minimum eight billion dlr trade surplus in 1987
galileo electro optics corp gaeo 2nd qtr 
there is no official confirmation that specific bands were set although the agreement used the term ranges for the first time in an international economic agreement
chemlawn chem ecolab econ in merger pact
he said the asa also had obscured the health issue during the debate
brazil could export 19 mln bags of coffee ibc
amca international ail 3rd qtr loss
it is in a soft market now but we are not concerned
earlier markets were bracing for a one point cut in rates after yesterdays budget set a sharp three billion stg reduction in 1987 government borrowing targets to four billion stg
sudan sierra leone and gabon were given a total of 980000 dlrs of technical assistance
csm systems inc csms year ended dec 31 loss
shandwick said it would raise 51 mln stg through the placing of 116 mln shares to finance the deal with the balance of 204 mln stg used to strengthen the balance sheet and in anticipation of future performance related payments
clearwater fine foods inc a canadian company minority owned by hillsdown holdings plc of london has acquired channel foods ltd a cornwall england producer of chilled smoke fish and pate products hillsdown said
another problem area delegates said was the question of price differentials for different origins of cocoa bought into the buffer stock by which the buffer stock manager could fairly compare relative prices of different cocoas offered to him
callon petroleum clnp gets qualified audit
the bundesbank and finance ministry had given no indication that the meeting would take place although the finance ministry spokesman said it had been arranged last week
the issue was increased from an initial offering of 75 mln dlrs
certainly we continue to have a fairly heavy drain on our external availabilities simply by servicing our debts
indonesia devalued its currency by 31 pct against the dollar in september to avoid a balance of payments crisis and has announced a series of measures since may intended to stimulate exports encourage foreign investment and revitalise the economy
china crop weather summary usda noaa
they banks like to appear to be conservative said pulcine and if a major bank puts loans on a non performing basis and the canadian banks dont there is going to be a lot of pressure from shareholders as to why one bank is considering the loans non performing and another bank is not wood gundy inc bank analyst patricia meredith said any willingness by a major brazilian bank creditor such as citicorp cci to declare its brazilian loans non performing rather than let brazil dictate settlement terms would provide a compelling example for other creditor banks
richardson rell to buy italian semiconductor firm
harcourts bid was preceded by an earlier 34 dlrs a share bid by theodore cross
1987 us soybean loan should stay same amstutz
philip crosby associates inc said it expects its audited results for 1986s fourth quarter to be lower than its previously estimated 10 to 15 cts per share
the bonus is being made from reserves which will not qualify for tax free distribution after the introduction of dividend imputation next july 1
it said the increase was exclusively due to higher beet sugar content which went up to 1793 pct from 173 pct in 1985
mark iv said it was later told by baird that baird had given no such assurance
as long as rolands stake in intermagnetics general is below five pct it is not required to report any further dealings in the companys stock
theres no doubt that the cairns group is being seen as a third force to be reckoned with both inside the general agreement on tariffs and trade and in other international trade negotiations he said
iran said to test fire silkworm missile in hormuz
shr loss 386 dlrs vs profit 37 cts net loss 24973000 vs profit 2389000 sales 625 mln vs 653 mln year shr loss 322 dlrs vs profit 132 dlrs net loss 20861000 vs profit 8515000 sales 2680 mln vs 2727 mln note 1986 earnings include a provision for restructuring costs of 23675000 dlrs or 366 dlrs a share pre tax and the effect of adoption of fasb 87 which reduced pension expense by 617000 dlrs for the quarter and 1817000 dlrs for the year before taxes earnings include nonoperating income from the effect of nonrecurring gains of 1811000 dlrs in the 1st qtr of 1986 from the sale of its minority interest in plexus corp and 1480000 dlrs in the 3rd qtr of 1985 related to the sale of excess property
merrill lynch mer in talks on canada purchases
only then will the banks know what theyve got he said
it said proceeds will be used to increase working capital for general corporate purposes and for possible future acquisitions
kuwait asks to use foreign flag tankers us says
the smoothed seasonally adjusted series shows a surplus on merchandise trade of 174 mln dlrs after 161 mln in january and 33 mln in february 1986
ministers believed the paris pact was bolstered by japans promise of a 35 billion dlr supplementary budget
earlier weizsaecker said that the potential of patagonia the barren tableland covering a third of argentina could assure the economic future of the country
suburban bancorp inc and woodstock state bancorp inc said they agreed to a merger under which suburban will purchase woodstocks shares for a total of more than 18 mln dlrs in cash and suburban bancorp shares
northern trust nrts files for shelf debt
us agriculture secretary richard lyng said the united states will continue its policy of subsidizing farm exports to regain lost markets until there is a global agreement to end such subsidies
walbro cited strong demand for its fuel systems products especially automotive electronic fuel injection components and carburetors for lawn and garden applications
striking brazilian seamen hold pay talks
the swiss based pharmaceutical giant said the new group which formerly operated under its us pharmaceutical division represents the first time ciba has developed an operating group from within its corporate structure
the remaining one mln shares is being offered overseas through underwriters morgan stanley international and merrill lynch capital markets ual said
ben and jerrys homemade inc bjico eight mths
union texas said for the full year it restated its loss to 575 mln dlrs from 495 mln dlrs and revenues to 126 billion dlrs from 127 billion dlrs
uk chancellor of the exchequer nigel lawson said the united states and japan must work to avert a possible trade war and he added that a trade war would not be in the interests of britain
soviet industrial output in the first quarter of this year grew by 25 pct compared with the first three months of 1986 tass news agency reported
more than three quarters of the total some 290000 tonnes will come from the united states
france a large consumer and producer of sugar favours a sugar pact as long as it reflects the real market situation particularly regarding stocks
us bill auction rates average 563 559 pct
the margin will be 1 2 point over libor in years one to four 5 8 point over libor in years five and six and 3 4 point over libor thereafter
defense department spokesman fred hoffman told reporters that the second platform had been abandoned by iranian personnel during the shelling and destruction of the first rig
the board received opinions on the offer from its advisors first boston corp and goldman sachs and co
the 1986 net includes a provision for estimated loss on dispositions of 570 mln dlrs compared to 151 mln dlrs the year earlier
peat marwick and kmg main hurdman said their merger will be completed tomorrow
the australia and new zealand banking group ltd in new zealand said it will raise its indicator lending rate to 23 pct from 215 pct on april 7
europe 31 31 nil nil japan 4458 4841 723 701 taiwan 3779 3904 416 395 other asia and oceania 7417 7834 2445 2411 africa 167 134 nil nil western hemisphere 996 695 32 27
the exchange rate was set 14630 yen to the dollar
these policies are collectively aimed at redressing the huge gap between japan and west germanys trade surpluses and the united states massive trade deficit
philippines finance minister jaime ongpin said he was cautiously optimistic an accord on debt rescheduling would be reached with commercial bank creditors as he prepared for the third week of talks starting monday
he said geologic condtions in the area were favorable for the discovery of oil fields equal to those in nearby prudhoe bay
imports were about 249 billion dlrs in 1986 against 187 billion in 1985 according to preliminary estimates
charan sees at least 50 pct rise in 1987 profit
it had earlier reported 1986 income of 3327 mln dlrs or 228 dlrs per share
undersecretary of state michael armacost will visit tokyo next week for meetings with high level officials that will include discussions of a growing trade row over japanese semiconductor electronics products
exxon co usa said it is expanding marketing of its mid grade unleaded gasoline along the us east coast
this raised the amount of dutch grants to bangladesh to 759 mln dlrs since 1972 used mainly for commodity imports and implementing development projects they said
oper shr loss two cts vs loss 13 cts oper net loss 236000 vs loss 1131000 revs 266 mln vs 263 mln year oper shr profit two cts vs loss 15 cts oper net profit 286000 vs loss 1292000 revs 1053 mln vs 953 mln note net excludes discontinued operations gain 20000 dlrs vs loss 1291000 dlrs in quarter and gain 60000 dlrs vs loss 1590000 dlrs in year
sosnoff also said he has held preliminary talks with pratt hotel corp prat and southmark corp sm on forming a joint venture to enter into talks to acquire caesars in a friendly transaction in which sosnoff would have a 50 pct interest and pratt and southmark the remainder
dollar opens at record tokyo low 14375 yen previous record 14470 dealers
the company said the acquired products are sold mostly in france for use on grapevines wheat and sugar beets and sales are about 40 mln dlrs annually
the cargo priced at 21387 us dlrs per tonne c and f taiwan is for delivery between april 20 and may 5
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
treasurys baker not concerned by bond declines
blocker energy corp blk year net
the strong yen appreciation has cost china dearly and is likely to make it reduce new yen borrowings the banker said
there were no reports of actual damage
the decline in foreign exchange reserves reflected the dismantling of swap arrangements the national bank said
nevertheless it expects the semiconductor business will continue to improve this year
1986 net includes pretax gains on sale of property of 2330000 dlrs in quarter and 245 mln dlrs in year
the esso proposal to purchase all the delhi interest will be more beneficial to our shareholders than proceeding with the float csr chief executive bryan kelman said in the statement
hudson valley patrol inc said it agreed to acquire privately held federal protection services inc a palm beach fla security firm for 200000 common shares and other considerations
commerzbank ag cbkgf said a dividend of nine marks would be proposed for ordinary shareholders on 1986 earnings after eight in 1985
south korea to change policies to avert trade war
japan has agreed to drop barriers to american caught herring and pollock opening the way for shipments that could reach 300 mln dlrs annually us trade representative clayton yeutter announced
pacific lighting plt considers unit sale
shr profit 27 cts vs profit 51 cts net profit 6600000 vs profit 122 mln revs 2117 mln vs 1934 mln qtly div 245 cts vs 245 cts avg shrs 242 mln vs 238 mln year shr loss 17 cts vs profit 127 dlrs net loss 4077000 vs profit 301 mln revs 7535 mln vs 6734 mln avg shrs 244 mln vs 237 mln note qtly div payable april six to holders of record march 16
alaska housing finance gets credit euro cp pact
the dividend is payable april 14 to holders of record march 31
private foreign banks and the world bank had calculated oil would have to be at least 25 dlrs a barrel for quito to be able to meet its commitments febres cordero said
even so some economists said that the manufacturing gains have resulted from an improving trade outlook
shr profit 13 cts vs loss one ct net profit 853000 vs loss 22000 revs 411 mln vs 203 mln avg shrs 6349753 vs 4403852 nine mths shr profit 57 cts vs profit 28 cts net profit 2869000 vs profit 1252000 revs 1190 mln vs 676 mln avg shrs 5054844 vs 4403000 note company went public in october 1986
increases follow a general trend in the industry started yesterday by sun co
they got a 1 16 reduction
it said cash flow per share this year should be 250 to three dlrs
the basic ideas of the ldps plan were presented to and welcomed by monetary authorities of the major industrial nations in washington last week they said
in the second half of the year we expect the saudis not to produce at their 41 mln barrel a day quota and therefore act as a vehicle to stablize the market and pave the way for a two dlrs a barrel price increase at the december 1987 meeting he said
the firm bought the building which has total floor spaces of 110580 sq ft and is now fully let as part of a parcel of properties which it acquired from hongkong land co ltd hkldhk for 143 billion dlrs late last year
esselte business systems incs esselte meto division said it has acquired the antonson america co a subsidiary of antonson machines ab of sweden
commercial clients were also selling dollars against the yen as the end of the japanese fiscal year on march 31 drew closer
asea babcock pfbc is a joint venture between its babcock and wilcox unit and asea pfbc of sweden
investors can sell the notes back to the company in 1992
sosnoff raises bid for caesars world caw 
qtrly div 415 cts vs 415 cts prior pay july 29 record june 15
dieter said mannesmann would act quickly when and if it found a firm in which it wanted to take a stake
qtly div 28 cts vs 28 cts prior pay april one record march 13
reagan upbeat about latest gnp figures
business computer said it expects to report a full year loss of about 500000 dlrs on sales of about 2100000 dlrs
the operation has an evergreen facility and can be extended up to eight years bnp said
tenneco to become open access transporter of natural gas
shr 57 cts vs 27 cts net 1002000 vs 470000 sales 159 mln vs 120 mln note 4th qtr data not available
walgreen co wag votes quarterly dividend
japan ministry asks trust banks to cut dlr sales
qtly div 15 cts vs 15 cts prior pay march 31 record march 13
share prices rose in very active trading today with dealers reporting that poehls remarks coupled with a bullish outlook on stock prices from deutsche at the same symposium brought in strong bargain hunting at current low levels
it also froze some 16 billion dlrs of short term credit lines which banks were committed to provide until march 31
merrill lynch capital markets is co lead manager
the seven day repurchase rate has also been unchanged at 8 3 4 since it was raised by a half point on january 5
belgium to issue 150 billion franc state loan
the group of seven g 7 industrial nations still comply with last februarys louvre accord to stabilize currencies a senior bank of japan official said
nine months ended august 31 group shr 11866 yen vs 10089 yen group shr per ads 23732 vs 20178 net 1428 billion vs 1214 billion pretax 3448 billion vs 2945 billion sales 28808 billion vs 27850 billion companys full name is tdk corp tdkt
notes in circulation totalled 1628 billion dlrs up 45 mln dlrs from the week before
dri forecast that inflation which was an average 63 pct in 1986 will be under five pct this year and that interest rates should drop two pct
our hope is that we can come to a mutual agreement that is good for both companies kistler said of the proposed merger that would result in a 12 billion dlr oil field service company
the swiss federal governments new series of six month money market certificates raised 1775 mln swiss francs at an issue price of 98401 pct to give an average annual yield of 3286 pct the national bank said
the commonwealth bank of australia said it will lower its prime lending rate to 175 pct from 1825 effective april 15
cgct which controls 16 pct of the french public telephone switching market is to be sold by the government for 500 mln francs by private tender
varity corp formerly massey ferguson ltd said it expected to report on march 25 a loss for the fourth quarter and full year ended january 31
high feed prices will cause the chinese to reduce hog herd growth and pork production this year the us agriculture department said
this change is regrettable but there is no reason to dramatise
the payment date is may 11 and there will be a long first coupon period
skorea current a c surplus seen near 10 bln dlrs
interest is set at 1 8 percentage point over london interbank offered rate for the first eight years rising to 1 4 pct for the remaining two years
for example a deal between gillette and some other company at 44 dlrs per share would make revlon richer by 262 mln dlrs under the formula
reliance electric was a unit of exxon corp xon until december 30 1986 when a group of investors took the company private in a leveraged buyout a reliance spokesman said
some terminal elevator operators are coming to the belief that even if futures rally back to last months highs country movement may remain light because farmers in many areas are sold out of old crop soybeans particularly in the eastern half of the midwest
earnings per share after real tax including the writedown 194 crowns vs 1205 crowns
the white house said a proposal for a tax break for the oil industry would undergo review
tenders will be received next week for 250 billion dlrs of 91 day bills 140 billion dlrs of 182 day bills and 500 mln dlrs of 364 day bills
bell atlantic corp bel 3rd qtr net
the dollar is stable again the current level is the appropriate level heller told reporters after a speech to a meeting of financial services analysts
the company had cited a dispute over payment by yamaha inc one of its japanese distributors over payment of a promissory note for 3686000 dlrs in overdue accounts
the nspa charged that argentinas differential export taxes implicitly subsidize soyproduct exports in competition with the us our only option is some sort of retaliation to restrict argentine access to our market said one us source
the transaction with nippon life remains subject to approval by the japanese ministry of finance which is expected in april
a 15 billion euroyen issue was launched for associates corp of north america paying five pct at 102 3 8 pct due 1992
household finance sets 75 mln canadian dlr note
bankamerica corp bacn is coordinating private bank creditors in the far east and representing them on the committee they added
currently some 700 oil rigs are operating in the us down sharply after oil prices slipped from 30 dlrs in late 1985 to around 10 dlrs in 1986
jan 31 end shr six cts vs eight cts net 177000 vs 252000 revs 3209000 vs 1070000 nine mths shr 12 cts vs eight cts net 365000 vs 247000 revs 7156000 vs 2960000 note prior year net both periods includes 91000 dlr tax credit
texaco sees business little hit by bankruptcy move
world bank teams studying philippine loan requests
principal neo tech inc said it completed the sale of its subsidiary neo tech inc to seismic holdings inc and energy holdings inc of denver colo
honeywell said that if it had acquired the sperry unit at the beginning of 1986 its loss for the full year would have been 988 dlrs a share
video library inc vlvl 4th qtr loss
in the first four months of this year the current account swung to a surplus of 25 billion dlrs from a deficit of 294 mln dlrs in the same 1986 period
but they will probably do it only half heartedly so i dont think it will matter too much on rates one dealer said
the slow herd build up and the forecast lower production is expected to bring about a slight drop in both export and domestic consumption this year it said
he said bolivia was continuing to service loans from international agencies and it expected to receive up to 400 mln dlrs in disbursements this year
entertainment marketing sells computer products such as disk drives and other often discounted electronics goods to retailers primarily in the southwest and directly to consumers by cable television
mechtron international corp mcht year net
saito called on each g 7 member nation to prepare to intervene in the market strongly enough to ensure exchange rates are stabilised at appropriate levels
no spokesman for guinness was immediately available for comment on the statement
two people were killed in an explosion and fire in a flare line at the grangemouth refinery on march 13 but the spokesman said this incident was some 100 yards from the latest accident
agl said its offer is above the upper end of the range of values placed on tmoc by its advisers in the companys response urging rejection of the elders resources bid
among the ratings under review is chryslers bbb grading for senior debt
manly molpus also said the industry would file a petition challenging koreas ban of us meat products
most independent forecasters including the imf believe that growth in calendar 1987 will be below three pct monetary sources said
qtr and year prior excludes tax gain 833000 and 3346000 respectively
coradian cdino stake acquired by sage
proceeds will be used to repay outstanding indebtedness of the company and to repay a portion of outstanding loans
the french ship capitaine wallis 13847 dwt berthed at the port of geelong in victoria today to load 8000 tonnes of urgently needed wheat for fiji after australian port unions partly lifted a trade embargo shipping sources said
sylvan learning corp slvn nine months dec 31
the europeans feared japanese personal computers would flood ec markets after washington imposed 100 pct tariffs last april
he said south korea heavily relied on foreign trade and he hoped the leaders of major trading nations could find a way to resolve the growing trend toward protectionist legislation
stora announced last september it would acquire papyrus at a price of 58 billion crowns thus forming europes second largest forest group after london based reed international plc reed l
diplomats said west germany again repeated its criticism at the talks here but andriessen told journalists that germany had been alone in its opposition
restaurant associates inc ra 4th qtr jan 3
hand said the bank was still putting together its dealing panel and would begin discussing the facility with potential customers in hong kong singapore and tokyo next month
abbott reported 1987 first quarter earnings rose to a record 142 mln dlrs or 62 cts a share on record sales of one billion dlrs
qtrly class a div five cts vs five cts prior qtrly class b div four cts vs four cts prior pay may 29 record april 30 note company changed date for its annual shareholders meeting to june 24 from june 15 due to a scheduling conflict
ef hutton lbo inc said tender offer by pc acquisittion for purolator courier expired
the payout of existing preferred shareholders will be completed just before next months initial distribution to common shareholders continental added
south african year on year broadly defined m 3 money supply growth slowed to 862 pct in january from 932 pct in december reserve bank figures show
the bank did not operate in the market in the morning and earlier revised its estimate of the shortage in the system today down to 400 mln stg from 450 mln
colombias coffee marketing to be more flexible
it put the 1985 86 crop at 7810 mln tonnes vs 7810 mln tonnes last month
trailways has abandoned all service in seven states in the past year and more than half of its sevice in three other states the company said
the 285 mln dlr project is designed to financially rehabilitate the railway the primarily state owned ferrovia paulista sa and improve transport on the lines leading to the city of sao paulo and the port of santos
he said in a statement the agreement culminates the reagan administrations effot to negotiate a virtual end to export credit subsidies
the legislation has already passed the house of representatives and recently passed the senate finance committee
the balance of rephs common stock is owned by members of republic management mcdonnell douglas corp md donaldson lufkin and jenrette and pacific asset holdings lp republic currently owns 44 hospitals and manages 46 other facilities in 25 states
united fire and casualty 4th qtr net
it said pretax profit should rise to 230 mln stg in the year to april 2 1987 from 196 mln previously and reach 275 mln in 1987 88
warrington said it plans to concentrate on its canstar sports group inc skate and athletic footwear division the largest ice skate manufacturer and distributor in the western world
the mahanagar telephone nigam mobilised 383 billion rupees last year against authorised 15 billion and last month the indian railway finance corporations record susbcription totalled 55 billion rupees against authorised 25 billion
non callable for life the issue is rated a 3 by moodys investors service inc and a minus by standard and poors corp
vermont financial services vfsc sets payout
low sugar prices may attract soviet chinese
the state bank of victoria is raising 50 mln australian dlrs through a three year bullet eurobond at 14 1 2 pct and priced at 101 3 8 lead and sole manager commerzbank ag said
at yearend according to the companys 1986 annual report honeywells total debt stood at 144 billion dlrs compared with 7766 mln dlrs in 1985
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
us natural gas reserves fell to 344 trillion cubic feet from 365 trillion and foreign reserves fell to 138 trillion from 153 trillion
that pattern is starting and will continue for a number of years chimerine said
shr 178 dlrs vs 112 dlrs shr diluted 172 dlrs vs 108 dlrs net 20029000 vs 13059000 avg shrs 10598481 vs 10430649 loans 8434 mln vs 7275 mln deposits 830 billion vs 782 billion assets 989 billion vs 927 billion note per share results reflect payment of preferred dividends
gulf arab states move towards economic integration
ended jan 31 shr loss 158 dlrs vs profit 58 cts net loss 242 mln vs profit 189 mln sales 134 billion vs 132 billion avg shrs 200 mln vs 198 mln year shr loss 127 dlrs vs profit 92 cts net profit 42 mln vs profit 480 mln sales 409 billion vs 398 billion avg shrs 202 mln vs 196 mln notes share results after provision for preferred dividends per share profits from operations were 146 dlrs vs 71 cts in the quarter and 244 dlrs vs 105 dlrs in year
japan economy may be near bottom economists say
the bond can be called at par on april 15 1995 or 1996
the company said it denied the claim
amatil proposes two for five bonus share issue
the world bank said it has loaned turkey 325 mln dlrs to help support an energy sector reform program
saur said klaus saur president and owner of the company will remain president of saur operations in munich london and new york
last year the company had sales of 26 billion dlrs with 19 billion dlrs generated by its tire operations
shr after preferred divs
waste management said it refused to agree to the requested preconditions
azpurua said four basic elements are being negotiated with the banks now spread reduction deferral of principal payments due in 1987 and 1988 lenghtening the 12 1 2 year repayment schedule and debt capitalization schemes
energy secretary john herrington said he will propose tax incentives to increase domestic oil and natural gas exploration and production to the reagan administration for consideration
washington federal savings and loans association
revlon group inc told the securities and exchange commission it had net profits of 16465000 on sales of 161 billion dlrs for the year ended dec
us corn acreage this year is likely to drop to the lowest level since the unsurpassed acreage reductions of the 1983 pik year and could rank as one of the lowest corn plantings in the united states in sixty years agriculture department officials said
taiwans central bank announced that as from today the overseas foreign exchange borrowings of local and foreign banks would be frozen at the level they reached at the end of may
asked whether this intervention was a sign of weakness in the louvre accord he said i dont think so
he said the market interpreted this as indicating the us would favour a weaker dollar and it had little intention of intervening to support the currency
the acquisition would be a cash merger with progressive shareholders receiving up to three dlrs per share the company said
a dresdner bank ag drsdf spokesman said the bank had no comment on newspaper reports that shareholders would be offered free subscription shares
swedish export credit is issuing 75 mln new zealand dlr eurobonds due april 28 1989 paying 19 pct and priced at 101 1 4 pct lead manager credit suisse first boston said
with the economy recovering strongly the steep drop in stock prices is not likely to put a major dent in consumer and business confidence one government economist said
a majority of the senate agriculture committee urged president reagan to reverse his opposition to export subsidies to the soviet union as a way to get its negotiators to purchase some 500 mln dlrs in american wheat
weisfields inc weis 4th qtr net
the world bank has released in the last two months half of a previously agreed 80 mln dlrs industrial sector loan and lent 276 mln dlrs to modernise the countrys vital river transport system
this meant that a full blown meeting of the group of seven was in progress
he said a trade deal must bring benefits to both sides
shr 32 cts vs 25 cts net 159 mln vs 121 mln revs 2362 mln vs 2219 mln nine mths shr 88 cts vs 68 cts net 435 mln vs 328 mln revs 6939 mln vs 6292 mln
shr 61 cts vs 64 cts net 3430000 vs 3091000 nine mths shr 181 dlrs vs 173 dlrs net 10185000 vs 8038000 assets 164 billion vs 145 bilion deposits 127 billion vs 115 billion loans 103 billion vs 8385 mln note 1986 figures restated to reflect pooling of interests transactions with angola state bank and shipshewana state bank and an october 1986 three for one stock split
the us wants to be satisfied
usda to conduct survey for avian influenza
proposals to buy the other major part of the alaska power administration the eklutna project was expected to be issued in early june it said
in last years first quarter ended april 30 computrac earned 379000 dlrs on revenues of 24 mln dlrs
the fourth loan for 10 mln dlrs is to improve family planning programs and health care
baldrige opposes japanese purchase of firm
partnership cuts stake in erc international erc 
autrex inc 1st qtr january 31 net
semi div 7 1 2 cts vs 7 1 2 cts prior pay april 30 record march 31
atlantic american corp aameo 3rd qtr net
equitable of iowa cos eqica 4th qtr net
federal paper board co inc said its is offering 2800000 shares or 140 mln dlrs of its 2875 cumulative convertible preferred stock at 50 dlrs per share
after two private sessions last august and on march 10 they agreed the meetings should continue
rosewood which is owned by the caroline hunt trust estate whose trustees include margaret hunt hill also said it has notified the federal trade commission of its intent to buy between 15 and 25 pct of comdatas common stock
mcgraw hill mhp divests south african unit
britains gold and currency reserves showed an underlying rise of 287 mln dlrs in february after a 72 mln dlrs rise in january the treasury said
but a western economist said the argument that us sanctions were a unilateral torpedoing of the polish economy wont cut any ice
one tranche is of five year 150 mln dlr bonds while the rest is of seven year 150 mln dlr bonds but other issue terms have not yet been decided
the exchange of the institutional debt and preferred stock for common equity will cause a resulting dilution of the existing common stock allis chalmers said in a statement
call money pressure from large german banks
shr 52 cts vs 49 cts shr diluted 195 dlrs vs 199 dlrs net 1751609 vs 1622503 sales 859 mln vs 851 mln year shr 210 dlrs vs 199 dlrs shr diluted 195 dlrs vs 199 dlrs net 6822493 vs 6601717 sales 3478 mln vs 3246 mln
talks between france and iran on the repayment of a one billion dlr loan by the late shah have made progress roland dumas head of a parliamentary foreign affairs committee said
repayments were inevitable and many countries would find their net repayments to the imf rising in the next few years
twa has said it owns less than 10 pct of usairs stock
the cut follows the 107 dlr cut in pay workers received in 1982 and the wage freeze that has lasted since then zack said
rtz said the excellent performance of its expanding range of industrial businesses in 1986 was offset by the collapse in oil prices
arvin industries inc said it is raising 150 mln dlrs through an offering of 8 3 8 pct 10 year notes and 9 1 8 pct 30 year sinking fund debentures
diplomats said spain and portugal have been angered by the scheme which they feel forces them to pay for massive surpluses built up before they joined the community last year but the two countries did not block todays vote
the company said both flows were through 40 64 inch chokes and from zones between 10000 and 13000 feet in depth
the potential write off would sharply reduce niagara mohawks common equity and may impair financial flexibility the agency said
however delegates said no solution to the question of how to implement quotas was yet in sight
kingdom of sweden issues 100 mln stg bond
central illinois cip 12 mths feb 28 net
the national bank gave the following figures 1985 in brackets current account 135 billion 128 in 1985 made up of goods 71 87 services 101 98 factor income 125 137 transfers 20 20 capital account 117 billion 100 in 1985 made up of direct investment n a 63 portfolio investment n a 28 capital traffic of banks 104 142 other capital traffic included n a 56 traffic not included and statistical error n a 77 change in currency reserves of the national bank 18 28 interest income on foreign currency 24 34 foreign currency transactions 06 06
the rate was cut last year to 1220 from 1275 pct
allegheny power system inc ayp sets payout
the notes are fully secured and therefore have a prior claim over cambrians assets in the event of other claims arising from litigation it added
habibie did not say when the terminal was expected to be operational
general partners the group tendering for all gencorp inc shares at 100 dlrs each said it has started soliciting proxies against gencorps proposals to increase its number of authorized shares outstanding create a board with staggered election dates and eliminate cumulative voting
specifically general partners said it was prepared to discuss an acquisition giving shareholders a continuing interest in aerojet general a valued business of gencorp
australias seasonally adjusted unemployment rate rose to 84 pct of the estimated workforce in march from 82 pct in february and 79 pct a year earlier the statistics bureau said
however he forecast that the last quarters results overall should not be adversely affected by the walkout
in a separate transaction livingwell inc an operator of 300 health clubs placed a six mln dlrs order with powercise international to install the powercise equipment in all of its clubs
finally he pointed out that auto production accounted for half of the industrial production gain as production of auto assemblies rose to 83 million units at an annual rate from 75 million units
the cost was about 65 mln dlrs in cash and paper
shr loss nine cts vs profit nine cts net loss 478000 vs profit 371000 revs 34 mln vs 26 mln six months net loss 466000 vs profit 685000 revs 62 mln vs 50 mln note1987 net loss includes writeoff of deferred start up costs totaling 490000 dlrs
moodys assigned a ba 3 rating to its convertible preferred stock
we will not get another chance before the year 2000 the ministers are in new zealand to review world trade since the uruguay round talks last sepember
we cant say yes we are going to do it revoke licences but this is definitely being considered an official said
taken in conjunction with m 2 and m 3 aggregates which kahan said have slowed to a crawl below federal reserve board annual targets the consequences could be a hint of economic weakness down the road he said
the newsletter said the iraqi letter indicated baghdad was having difficulty selling crude at official prices
ecuador adopts austerity program
lead manager was county natwest capital markets
white house spokesman marlin fitzwater said yesterday we do not want a trade war but we feel that this is the kind of action that requires meaningful action reagans move follows steadily rising us trade deicits with last years hitting a record 1698 billion
it estimated 1985 86 output at 2425 mln tonnes vs 2425 mln last month
pakistani government allowed freer cotton and rice export in a three year new trade policy aimed at narrowing the countrys yawning trade gap
the rules would be published by the finance ministry and the central bank
shr 33 cts vs 13 cts net 2272000 vs 880000 revs 6399000 vs 5912000 chainwide sales 1420 mln vs 1267 mln nine mths shr 107 dlrs vs 44 cts net 7369000 vs 2868000 revs 191 mln vs 161 mln chainwide sales 4029 mln vs 3571 mln avg shrs 6918000 vs 6569000
mts acquisition corp a company formed by martin t
shr 28 cts vs 14 cts net 3110000 vs 1286000 sales 1127 mln vs 938 mln avg shrs 112 mln vs 91 mln nine mths shr 58 cts vs 15 cts net 6377000 vs 1332000 sales 3078 mln vs 2338 mln avg shrs 109 mln vs 91 mln note effective september 25 1987 primerica corp pa owned 814 pct of musiclands common shares
towle qtow stock may be diluted canceled
there will not be any change he said
the company said it will issue 200000 shares of its common at closing and additional shares based on federal protections pretax earnings over the next three years
the acquisition of the tikes licensee is part of the expansion of little tikes in the european toy market
apache corp said it filed with the securities exchange commission a 100 mln dlr convertible subordinated debenture offering
qtly div eight cts vs na payable may 11 record april 24
a total of 800 marines are inside the docks but most are out of sight
the intrepid museum foundation reiterated that it is continuing negotiations with its official bondholders and creditors committees concerning the terms of a chapter 11 plan of reorganization
speaking to a business conference he said it is not brazil that has to make adjustments with the imf international monetary fund it is the international financial community that is taking away resources from the developing countries the crisis is not in brazil a country that has had the third biggest trade surplus in the past two years brazil had remitted 24 billion dlrs in debt servicing and received only two billion in fresh funds he added
a member of nikonovs party commented that although 230 mln tonnes of grain were in the fields harvest problems would bring the final crop down to around 210 mln tonnes
comalco said its extraordinary provision of 273 mln dlrs costs for goldendale losses and closure may be reduced if the sales agreement were completed
he declined to say how many dollars the bank bought or when precisely it intervened
the contribution of each one of them corresponds exactly to the request of the mexican government the statememt said
it said the auditors statement known as a subject to opinion cautions that because of continuing operating losses and negative cash flow it must achieve profitable operations or acquire additional equity capital or other financing to continue in existence
treasury secretary james baker said that changes in exchange rates have generally been orderly and have improved the prospects for a reduction in external imbalances to more sustainable levels
ab volvo is issuing a 70 billion eurolire bond due may 31 1990 paying 10 1 8 pct and priced at 100 1 2 pct lead manager banca commerciale italiana said
shr loss five cts vs loss 15 cts net loss 619000 vs loss 1730000 sales 3138000 vs 5667000 avg shrs 125 mln vs 115 mln year shr loss four cts vs loss 40 cts net loss 343000 vs loss 3963000 sales 134 mln vs 353 mln avg shrs 125 mln vs 103 mln note 1986 year net includes gain 1678000 dlrs from settlement of litigation with belcher oil co 375000 dlr provision connected with resignation of former president legal settlements and costs of 1074000 dlrs and 552000 dlrs in expenses from closing of contract packaging division
overall the weakness of the hong kong dollar against cathays major trading currencies helped push passenger yields in the first half up 72 pct said james capel
dutch port and transport union fnv is presenting its case against 800 planned redundancies in rotterdams general cargo sector to parliaments standing committee on social affairs today a union spokesman said
astro med inc alot 4th qtr net
the current international rubber pact expires on october 22
meanwhile in london a statement from beecham said the business was sold to revlon for 25 mln dlrs in cash and a royalty payment
hes a very satisfied shareholder right now
japan tankoku yields hit record low at auction
canbra foods sets special five dlr shr payout
foreign bankers said chinas total debt rose sharply from an estimated 20 billion dlrs at end 1985 to cover increased import commitments but the debt equity ratio remains low between eight and 10 pct
swiss industrial output rose nine pct in the fourth quarter last year after a four pct third quarter decline and was up three pct from the final three months of 1985 the federal office of industry trade and labour said
the bill which was defeated by the senate agriculture committee on monday could have cost about 60 mln dlrs a year in lost exports the philippine coconut authority pca said
paine webber pwj in four mln share offering
westinghouse wx sees higher earnings growth
a 150 mln dlr issue of mead corp 30 year debentures was given a nine pct coupon and priced at par smith barney harris upham and co inc said as lead manager
funds averaged six pct on friday
however most of the members did not want to rule out the possibility of some slight easing during the inter meeting period although they did not view the conditions for such a move as likely to emerge the fomc members assumed that future fluctuations in the dollars value would not be of sufficient magnitude to have any significant effect on the feds economic projections
a 0 92 plan however would not be decoupling but simply a different type of acreage diversion program glickman said
health insurance revenues in the netherlands also rose despite a notable shift to insurances with lower premiums and higher personal risks
fed expected to add reserves
very good progress was made last year while the recent acquisition of chesebrough ponds inc cbmn was a significant addition which will greatly benefit the group in the years to come
rentco had revenues of about 70 mln dlrs
production estimates for maize were down from last week at 95 mln to 98 mln tonnes against 96 mln to 99 mln estimated previously
actual retail sales in the december quarter totalled 617 billion nz dlrs compared with 670 billion in the previous quarter and 610 billion a year ago period
oppenheimer ups viacom via stake to 77 pct
ortner said there had been little impact on us trade deficit by the decline of the dollar because at the time of the plaza accord the dollar was extremely overvalued and that the first 15 pct decline had little impact
but even japanese banks already established in secondary markets here face a host of problems in lead management
asked whether audi would pay a dividend to vw to help the parent company overcome its currency losses habbel said audi would ensure vw got a share of profits
the commodity credit corp ccc has accepted bids for export bonuses to cover sales of 340000 tonnes of hard red winter wheat and 210000 tonnes of soft red winter wheat to china the us agriculture department said
arnott said the waiver had continually been used as a justification for dubious protective measures by the us he listed a recent dairy export incentive program and steps to close the us sugar market to imports
as of today about 45690 shares were tendered an insufficient number of shares to satisfy the condition that 51 pct of the voting power be tendered
the division had sales of 113 mln dlrs in 1986
oak industries oak to buy rexnord rex unit
seasonally adjusted imports rose in february to 716 billion stg from 673 billion in january
cummins engine cum sees improved earnings
while the department has not made any final decision banning the use of pik and roll grain in reserve rotation is under heavy consideration he said
bad debt writeoffs for year up one mln dlrs pretax from the year before
merrill corp mrllo 1st qtr april 30 net
standard bank investment corp ltd sprjj chairman henri de villiers said he could not predict profits for the bank this year because of south africas continuing political unrest
brazils central cank president francisco gros said he sent a telex to creditor banks friday to clarify confusion over brazils request that banks expedite procedures for renewal of short term interbank credit and trade credit lines
it said there is significant potential for the discovery of additional ore
in a novel type of financing texas instruments inc marketed a three part 225 mln dlr issue of convertible money market preferred stock through shearson lehman brothers inc as sole manager
sigma mines quebec ltd 65 pct owned by dome mines ltd dm said its sigma mine had proven and probable reserves at the end of 1986 of 4902940 tons with an average grade of 0139 ounces of gold a ton
m
wedge said it has no plans to join in an effort to seek control of american medical but it would not rule out a future takeover try
bank of japan intervenes in tokyo market
bank of finland to trade in banks certificates
landesbank rheinland pfalz finance bv is issuing a zero coupon 75 mln australia dlr bond due may 7 1992 priced at 52 3 4 pct for an effective yield to maturity of 14 1 4 pct said orion royal bank as lead manager
this huge amount of our foreign debt has been one of the major constraints on our development last year was a major turning point for the korean economy kim said
eyskens said the ministers and central bankers also discussed the need to dedramatise realignments of ems parities by letting high ranking monetary officials carry them out by telephone rather than calling a meeting of finance ministers
nippon steel corp nstct and inland steel co of the us are negotiating to set up a joint steel venture in indiana a nippon steel spokesman said declining to give more details
companies like dupont dd and monsanto co mtc spent the past two or three years trying to get out of the commodity chemical business in reaction to how badly the market had deteriorated dosher said
mercantile stores co inc said sales for the five weeks ended april four were up 05 pct to 1847 mln dlrs from 1837 mln dlrs a year earlier with same store sales off 17 pct
one luxembourg and three danish banks are tapping the euro danish crown market in a three tranche zero coupon eurobond deal of 600 mln danish crowns nominal for denmark senior vice president lars thuesen of privatbanken which is the lead manager told 
sumita says he does not expect further dollar fall
the underwritten portion allows cds to be issued in tenures of one three and six months
dealers said the bundesbank would want to inject enough liquidity in this weeks pact to keep short term rates down
but if against expectation we fail to reduce permanently the external account deficit this will inevitably affect borrowing terms and capability he added
total m2 and local m2 rose 325 pct and 239 pct on the year ago month respectively
bidders for two three and four year notes must be members of the underwriting syndicate for five year discount notes and 10 and 20 year government bonds
he said that at the time of the 13 dlr per tonne subsidy offer us wheat prices were 26 dlrs over world levels
the narrowing of the gap between downgrades and upgrades would reflect a calming in takeover frenzy less volatile energy markets and slow but steady economic growth s and p said
its a faster way to get the job done than using interest rates and avoids unpleasant effects on other areas of the economy it shows that the political will is very strong
edelman group cuts burlington bur stake
members of the goldstein family have accepted the offer for 117 mln shares which have not been underwritten
economist calls brazil debt request modest
the company reported quarterly earnings of 569 mln dlrs or 64 cts a share up from 464 mln dlrs or 52 cts a share a year ago
pay date is april 24 with a short first coupon
international cocoa organization icco council chairman denis bra kanon will present a compromise proposal on buffer stock rules to producer and consumer delegates either later today or tomorrow morning delegates said
coconut farmers were being encouraged to intercrop by planting other cash crops between coconut trees he said
at 1200 gmt sterlings trade weighted index was up 06 at 727
last year we asked for moderation in exports and this year we may have to do so again he said
it will not give any short term relief for debt ridden countries but it will make a difference in 10 to 15 years
herrhausen said the grouping of holdings in the balance sheet in this was was not a first step to floating them off in a separate holding company
atpc chairman and indonesias mining and energy minister subroto has pledged his countrys support for the export curb
the markets were telling us be careful
todays 23 billion deal for toyota motor credit with a 4 1 2 pct coupon was deemed tight however
mark iv said it owns about 670400 shares or about 99 pct of conracs outstanding shares
many of the officials had met earlier today and yesterday within the framework of the organisation for economic cooperation and development oecd to review the slow progress being made in cutting the record 170 billion dlr us trade deficit and persuading west germany and japan to open their economies to more foreign imports
some loans that were entered into did not have the full backing of the peoples republic of china he said
hilton hlt 1st qtr earnings up about 37 pct
rochester rtc acquires canton telephone co 
intellicorp inaio 1st qtr sept 30 loss
foster fwc unit audit reveals discrepancies
they will be issued in denominations of one mln yen and listed in luxembourg
other us banks have also warned of earnings setbacks
the shares last traded at 579 yen
rospatch rpch rejects diagnostic drs bid
canada had a trade surplus of 533 mln dlrs in january compared with an upward revised 965 mln dlrs surplus in december statistics canada said
macyro said the two companies operate in the construction material electiricty plumbing hardware and locksmithing sectors and had sales of 235 mln dlrs last year
and its related entities
american quasar petroleum co said it completed its previously announced plan of reorganization
the price hike follows other increases industrywide
it also said that if more than four mln shares are tendered it will pay for them on a pro rata basis
cavaco silva has accused the left wing opposition parties of blocking key economic reforms
bhp said the new company will be one of australias larger gold producers with annual output exceeding 170000 ounces
the companys ashland petroleum co unit operated at a loss in january and february since it was unable to raise product prices enough to recover higher crude oil costs ashland said
woolworths earlier reported a fall in net profit to 927 mln from 6320 mln on sales of 547 billion against 483 billion
the mannesmann spokesman declined to say in which industrial sector the group may make a us acquisition or how big the acquisition might be
however the unit cit group holdings incs aa minus senior debt and a 1 plus commercial paper were affirmed
iowa beef processors a division of occidental petroleum said it planned to reopen the plant one of the largest in the nation on march 16
they said the ministry had telephoned city and long term banks earlier this week to make the request
edelman cuts lucky stores lks stake to 48 pct
in the mideast gulf propane appeared easing slightly after a major us oil company bought propane on formula which netted back about 123 dlrs cif mideast gulf which was two dlrs below saudi arabias government selling price gsp industry sources said
it left wheat trade unchanged at 86 mln
petrosurance specializes in property and casualty insurance for the oil industry
hecht formerly chief executive will act as chief operating officer
the company said goldman sachs and co may underwrite the deal
the iranian spokesman was quoted by tehran radio as saying the us was trying to build up its military presence in the region
justice asks us dismissal of twa twa filing
the monetary sources said japans policy was criticized when the board met to consider the countrys economy under the annual consultations it holds with each of its members
fed governor supports commodity price guide
generally the bills provisions toughen us enforcement of trade laws
money market traders said the move was aimed at easing cash market interest rates which had risen on demand for funds to meet paye tax and treasury note settlement commitments
shr 72 cts vs 36 cts net 122 mln vs 62 mln revs 173 billion vs 149 billion avg shrs 1577 mln vs 1498 mln nine mths shr 171 dlrs vs 128 dlrs net 297 mln vs 216 mln revs 498 billion vs 455 billion note net for current qtr included non operating costs of 12 mln vs income of 10 mln in qtr 1986
india is reported to have bought two white sugar cargoes for april may shipment at its tender today near 227 dlrs a tonne cost and freight and could be seeking a third cargo traders said
in a filing with the securities and exchange commission the group said it has had discussions with other taft stockholders and some company managers and directors concerning participation in a group to acquire control of the company
about 95 pct of the surplus was from taiwans trade with the united states according to official figures
the conversion eliminates its obligation to pay principal amount due 1993 on the debentures and will increase cash flow through an interest saving of more than 800000 dlrs a year the company said
south korea to hold current account surplus down
the commodity credit corporation ccc accepted a bid for an export bonus to cover a sale of 12500 tonnes of us wheat flour to iraq the us agriculture department said
temperatures could stay in the mid 20s for up to eight hours mohler said
a spokesman for the bundesbank in frankfurt said the central bank would also not be represented
bank of montreal hopeful on brazil president
the value of the agreement will be based on citizens adjusted book value at year end and the trading price of first commercials stock
cbt february volume down 14 pct from year ago
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
fringe soybean acres in the southeast and some bean acreage in the midwest are also expected to be taken out of production but the usda source said this would be a relatively small percent of the total
effective march 10 amalgamated merged into llc which changed its name to valhi
the shipping corporation of india sci has asked its ships to avoid the port until the dispute is over national union of seafarers in india president leo barnes said
rexnords 50 mln dlrs of 12 3 4 pct debentures of 1994 were cut to b from a minus to reflect the merger with banner
telemedia inc said its telemedia publishing inc subsidiary agreed to buy privately owned harrowsmith and equinox magazines for an undisclosed amount of cash
uk money market given 40 mln stg late help
the plan was launched in october 1985 by secretary baker and called on commercial and multilateral banks to lend 29 billion dlrs in the subsequent three years to major debtors undertaking reforms that promoting economic growth
the company said it made the transaction without suffering a loss
borg warner earned 2061 mln dlrs or 235 dlrs per share on revenues of 362 billion dlrs in 1986
borg warners other businesses include automotive parts protective services which includes wells fargo security guards and chilton corp a credit rating service
the exchange said it contacted the company and requested that loral issue a public statement indicating whether any corporate developments would explain the unusual activity in its stock
barclays midland follow natwest base rate cut
gaf said a revised offer by the group is still possible
other technical points need to be sorted out including limits on how much cocoa the buffer stock manager can buy in nearby intermediate and forward positions and the consequent effect on prices in the various deliveries delegates said
intermec corp intro 2nd qtr sept 30 net
flash flood watches were issued for this morning across the eastern half of kansas
exxon xon extends mid grade unleaded marketing
the four member mission is expected to stay two to three weeks
it said the split will be payable april 17 to shareholders of record april 16
shr five cts vs five cts prior qtr pay may 15 record april 22
frances cencep issues 19 billion franc bond
advanced said sterlings board has decided not to enter the nicotine product market
united banks of colorado inc said it has received federal reserve board approval to acquire intrawest financial corp intw in an exhcnmage of 07234 united share for each intrawest share
costa rica has agreed to sell more than 32000 tonnes of sugar this year to the soviet union a spokesman for local producers said
a presidential decree said that banking financial and insurance firms as well as bottling and tobacco industries with 1986 sales of more than 16 mln intis would have to earmark 30 pct of their net profits from last year to buy the bonds
ppg industries inc said a group of investors led by sterling group of houston said it has agreed to acquire ppgs ethylene products business including its inteest in an ethylene glycols joint venture with du pont co dd in beaumont texas for undisclosed terms
the institute whose forecasts are more pessimistic than those of the other four leading german institutes said the economy had passed its peak in the summer of 1986 and its prospects had dimmed significantly since the autumn
he said it will take a concerted effort to regularize brazils external payments
west german government sources said bonn remained committed to the louvre accord to stabilise currencies which was struck by leading western democracies in paris last february
i think we got a better deal
the credit letter expires either when smoky river completes three mln dlrs of reclaiming activities or december 31 1992 which ever occurs first
but it might help cartagenas bid to have old and new debt treated separately
reed international plc reedl said it had no comment to make on uk stock market rumors that harcourt brace jovanovich inc hbj may make a bid for the company in order to escape unwelcome offers from robert maxwells british printing and communication corp bpcll a spokeswoman for reed said earlier analysts forecasts that a bid for reed will have to be about 700 mln stg were totally unrealistic adding that its current market is about 27 billion stg
because of brazils suspension of interest payments us bank paper has underperformed such other sectors as utilities telephones and industrials analysts pointed out
jc penney jcp to buy equity in beebas
the country was thus targetting a fall in this years trade surplus to 80 billion dlrs from 1986s 95 billion
in a summary of its weather and crops bulletin the agency said planting increased in california as soil temperatures improved
paradyne pdn pleads guilty to criminal charge
the change which will be discussed tonight informally among producers follows talks after the formal producer session with the eight member producer splinter group and will affect the proposed quota distribution for 12 months from april one they said
another 60 mln ecus could be added if ec ministers switch unused project credits to other programs the commission said
stoltenberg also appeared to suggest that west germany was now no longer under any pressure from the us government to stimulate its economy
of the five nuclear plants originally envisioned by wppss one has been completed two remain under construction and two others those for which the defaulted bonds were sold have been terminated
he said that quite clearly the second source said
saudi arabia has dropped its condition that brazil secure international bank guarantees before saudia arabia would ship it oil the state oil company petrobras said in a statement
six major thai major banks reduced minimum loan and overdraft rates by 050 to 075 percentage point on february 16 but the move has not substantially increased loan demand the sources said
gencorp gy stays on s p creditwatch negative
indonesia rejects world bank farm reform proposals
he said toshibas application would be considered by the office of telecommunications oftel an oftel spokeswoman said a decision on this application will take weeks maybe months asked whether toshibas bid would fall victim to british retaliation the oftel spokeswoman said who knows whats going to happen given the current situation a toshiba executive who asked not to be named told we do not anticipate any special problems some analysts queried by questioned the basis of britains strong stand on the cable and wireless bid
p young co subsidiary said it agreed to acquire atwell fleming printing ltd a canadian financial printer for about 32 mln dlrs
the court originally decided that the winding up petition went wider than the enforcement of such a debt an amt spokesman said
us sells 1 year bills at average 592 pct stop 593 pct awarded at high yield 80 pct
he said csr is convinced the sale was the correct decision in view of the risks associated with the oil business
a national cooperative official said that as long as world market levels continue at around half of perus production cost the future of the industry is uncertain
hughes supply inc said it has signed a letter of intent to acquire most of the assets of tri state supply inc a wholesale distributor of electrinical fixtures and supplies with sales for the year ending tomorrow of about 13 mln dlrs
net tangible assets are 52 mln dlrs hanson said
margaux controls inc margx 3rd qtr dec 28 loss
taiwan central bank issues certificates of deposit
harris teeter properties inc reported fourth quarter fiscal 1986 earnings per share of 24 cts on earnings of 601000 dlrs
medtronic inc mdt sets payout
japan plans more flexible corporate bond issues
belvedere corp blv 4th qtr loss
the telegraph lost 132 mln canadian dlrs last year
japanese short term interest rates buoyed recently by seasonal factors are likely to fall from the beginning of april when the new financial year begins money traders said
general partners is comprised of investors wagner and brown and afg industries inc a glass manufacturer
shr loss 39 cts vs profit 44 cts net loss 2169000 vs profit 2417000 nine mths shr profit 56 cts vs profit 168 dlrs net profit 3111000 vs profit 9317000 note full name mercury savings and loan association
next week 100 mln stg of treasury bills will be offered replacing 100 mln stg of maturities
sanford margoshes of shearson lehman brothers said this deal shows that british petroleum a conservative investor that knows the oil business is clearly confident in the us oil industry and that shines well on the us companies philips petroleum p gained 3 4 to 15 7 8 occidental petroleum oxy one to 34 5 8 usx corp x with its marathon oil co unit rose 1 2 to 28 3 8
the company said a report indicated that the burro creek project area which covers 800 acres could have potential reserves of three to four mln tons of gold and silver mineralization
french household consumption of industrial goods fell 11 pct seasonally adjusted to 2132 billion francs last month from 2155 billion in january the national statistics institute insee said
she said about 2000 barrels of crude were spilled and could not indicate when pumping would resume
this compares with the banks revised estimate of a 350 mln stg money market shortfall
west german retail group kaufhof ag kfhgf is considering taking a stake in shipping and transport group hapag lloyd ag hplgf but has yet to reach a final decision a spokesman said in response to queries
the rise was also slightly below the 33 pct growth rate finance minister michael wilson predicted for 1986 in februarys budget
the initiative will have to rest with the indonesian government
the split will be effected in the form of a 100 pct stock dividend to be issued april 30 to stockholders of record march 31
pretax earnings fell 27 pct to 134 billion dlrs from 183 billion ibm said
monetary sources described them as a preliminary diplomatic effort to see if france could help to negotiate financial concessions sought by brazil from western banks governments and official lending agencies
these would ultimately pay up he said
an election could be delayed until mid 1988 but most forecasts say it will be this year
us urges banks to develop new 3rd wld finance
delegates to the american pork congress will decide whether or not they want mandatory production controls when they vote on the official pork producer policy wednesday the national pork producers council said
the company said the order includes 140 m809 series five ton trucks and 40 m44a2 series 2 1 2 ton trucks
the acquisition if subject to international american arranging financing
anz bank to cut australian prime rate to 18 pct
immediately before the march quake ecuadorean production was 250000 260000 bpd with 144000 bpd exported
sterivet laboratories ltd stvtf year loss
another source said that with much of the 1986 87 october september world cocoa crop sold limiting sales in the near term concerns essentially next years harvest
he believed that prompt restraints might avert the need for more substantial tightening later
the tokyo grain exchange said it will raise the margin requirement on the spot and nearby month for us and chinese soybeans and red beans effective march 2
he said the punte del este agreement had taken eight months to prepare and eight days of negotiations
soviet union sets 45 pct industrial output growth
the higher transportation costs have served to depress interior corn basis levels squeezing the margins obtained by the elevators feeding the gulf export market as well as discouraging farmer marketings they said
dutch bank f
it said a 59 billion dlr capita budget for the three year period 1987 1989 was also outlined at the board meeting noting this is 700 mln dlrs below the comparable figure for the years 1986 1988
moodys downgrades standard chartered stch 
dome rose 1 4 to 1 1 8 on the american stock exchange
it said benjamin w
kaneb now owns approximately 82 pct of kep
fees total 1 3 4 pct and the issue is guaranteed by the belgian utilities intercom ebes and unerg
i do not see that the accord has been terminated christians said
european nations and japan believe deficit cuts are essential to curbing the record us trade shortfall that reached nearly 170 billion dlrs last year
to increase output quickly the state will raise by 10 pct the price it pays for cotton produced above and beyond quota levels the newspaper said
the other items in the total extraordinary loss of 1405 mln dlrs were a 1029 mln write off of unrealised exchange losses and 103 mln for an increase in future tax provision
the offer which will begin on monday and ends june 30 requires that the shares tendered will bring its stake to at least 15 pct
arus corp said it has received a letter of intent from winston financial corp for the purchase of over 5200000 dlrs in telephone diagnostic testing equipment
donaldson lufkin co managed the deal which was increased from an initial offering of 30 mln dlrs
any farm loan secondary market would be modeled after the successful resale markets in home mortgages the government national mortgage association gnma and the federal home loan mortgage corporation freddie mac industry sources said
its monthly report said 947 mln tonnes of goods passed through the port last year compared with 926 mln the year before
the notes will bear an interest rate of seven pct for one year from april 20 1987 rising to 750 pct until april 1989 and an eight pct rate thereafter
shr 37 cts vs 35 cts net 4346000 vs 4202000 revs 2320 mln vs 2232 mln
this is not the time to throw all caution to the winds and im not about to do that fernandez said
kontrollbank issues 150 mln mark private eurobond
the new gus shares will not receive the eight pence per share interim dividend in respect of the year ending march 1987 the statement said
the 10 year bonds issued at par will carry a four pct annual interest and will be convertible at 312 singapore dlrs per one dlr share in keppel
last year the japanese began a slow opening by granting west german banks investment licences
the company will retain six yen dividend for 1986 87
internal consumption is some 03 mln bpd
he said the difficulty of syndicating mexicos 77 billion dlr loan package shows that new approaches must be encouraged
the bundesbank has tolerated an overshooting of its money supply target arousing criticism from other quarters he said
balladur responding to weekend remarks by us treasury secretary james baker that the us would take another look at the accords said i firmly desire a faithfull and firm adherence by all the major industrial countries to the louvre accords in both their letter and spirit on sunday baker said last weeks rise in short term west german interest rates was not in keeping with the accords
naarden set a cash dividend of 180 guilders unchanged from last year but without last years share option for payment
the agreement also incudes the right to buy gms canadian transit bus and parts business contingent on a satisfactory labor agreement
the lawmakers agreed that for the first time a us industry could charge foreign producers with unfair competition if they deny basic worker rights such as collective bargaining safety rules and payment of a minimum wage appropriate to the countrys economic development
the kiel hamburg and essen institutes said the jobless total would average 217 mln in 1987 compared with 223 mln in 1986 and predicted a rise in the number of people in work of about 200000
peru begins foreign exchange rationing
stryker stry acquires hexcel hxl unit
but the repackaging allows them to target a new class of investor for the notes and take the old issues off their books without registering a loss the traders said
he said there are no law enforcement officials involved at this time
a review of south africas economy by the technical committees economic sub committee was to be held in february while the talks for the rescheduling were due to start some time this month or next month
south koreas index of leading indicators fell 01 pct to 1641 base 1980 in december after a 01 pct rise in november representing a 161 pct year on year gain from december 1985 economic planning board provisional figures show
with the sale csr will be able to expand those businesses more aggressively and earlier he said
i did what i set out to do
virateck inc vira 1st qtr feb 28 oper loss
city of bergen norway is issuing an 80 mln canadian dlr eurobond due april 13 1994 priced at 101 1 2 with an 8 5 8 pct coupon lead manager bank of tokyo international ltd said
commenting on the dollars fall below 150 yen sumita reiterated he cannot find any specific reason for the currencys weakness
toronto dominion bank cuts prime rate to 8 3 4 pct from 9 1 4 pct tomorrow
dynamics said the price of stock under the option exercisable for one year is based on the average closing price for the stock for the five days ending march two
financial corp would need over one billion dlrs to bring its regulatory net worth up to federal savings and loan insurance corp requirements the spokeswoman said
simon and schuster to acquire woodhead faulkner of the uk for undisclosed terms
caroline levy of ef hutton also believes something could be going on with wendys
same store sales declined 32 pct for the quarter and 22 pct for the year
no definitive bonds will be available
texas international tei retires some notes
brazil rejected all offers at tonights wheat tender a brazilian wheat board spokesman said
some said sumitomo may have paid too much for heiwa sogo in view of the smaller banks large debts
but we dont know when they might do it an ohio dealer said which has created uncertainty in the market
dauster said except in rare cases brazil has always sent its london based representative to ico board meetings
this brings the banks total help so far today to 120 mln stg and compares with its upward revised estimate that the system would face a shortage of some 115 billon stg
these are now being quoted between 125 and 175 dlrs a tonne per day depending on shipment and destination against recent fixings below 12 dlrs a tonne
the trade knows full well what colombias export potential is he said
sri lanka imports all its annual needs of 17 mln tonnes
eli lilly and co said its board decided to sell elizabeth arden inc a wholly owned subsidiary that manufactures and markets cosmetics and fine fragrance products
the kansai project is to cost about eight billion dls
jude at an exercise price of 100 dlrs
datron systems dtsi sees lower year net
valhi inc reported earnings of llc corp and the amalgamated sugar co for the six month period ended december 31
if that is the price we have to pay to make the agreement succeed we are ready opec is not changing its price level of 18 dlrs the groups president said
esselte business systems inc esb ups payout
the philippines has said it was badly hit by a cut in its quota to 143780 short tons from 231660 in 1986
london metal freights
continentals investment tax credits carryforwards of 128 mln dlrs at 1986 year end will be reduced to 106 mln dlrs in 1987 and if not used in 1987 to 83 mln dlrs in 1988 it said
oper shr loss 22 cts vs profit 10 cts oper net loss 1626000 vs pofit 702000 revs 983 mln vs 1051 mln 12 mths oper shr profit 18 cts vs profit 82 cts oper net profit 1293000 vs profit 5940000 revs 3962 mln vs 3967 mln note oper net excludes loss from discontinued operations of 2112000 dlrs or 39 cts a share for year ago qtr and 2036000 dlrs or 110 dlrs a share for year ago 12 mths
a 75 mln stg revolving credit contained in a 100 mln stg multiple facility for argyll group plc has been oversubscribed in syndication and the borrower is considering an increase banking sources said
steego corp stg 3rd qtr jan 31 loss
they said a usair acquisition of twa might be a way for him to exit the company if usairs airline is then merged into twa
he called on the international community to ensure a real transfer of resources from the industrialised to the developing countries
but with consumer prices falling for much of 1986 and inflation negligible so far this year poehl thinks it is safe to relax the monetary reins a little and concentrate on the dangers to the german economy of a bloated exchange rate
the company said its reliance segment sustained a significant operating loss for the full year 1986 due to the accounting problems and increased promotional and advertising expenses
cable has said it is resisting attempts by the federation of economic organisations to merge two japan based telecommunications firms a move which would have cut cables stake from 20 pct in one to three pct in the merged unit
he said the pse calculations provide a tool to negotiate down domestic farm support levels which are a major cause of the present crisis in world agriculture
peru for example shipped 96000 tonnes to the us in both 1983 and 1984
a number of presentations have been made with regard to renovating the financial futures room sladoje said
linear films inc said it sees lower earnings in the fourth quarter ending march 31 compared with a year ago due to lower profit margins on stretch film from price increases of polyethelene resin a key raw material
shultz says us economy is strong london oct 20 us secretary of state george shultz after discussing mondays record selling spree on the worlds stock markets with british foreign secretary sir geoffrey howe said the american economy is in very strong shape shultz a former economics professor and former treasury secretary said the underlying fact if you look at the us economy is that we continue to have a very strong economic performance he cited as positive factors declining us unemployment and low inflation
sibson said he expects the tighter entrance requirements to pare 3he current list of 67 members down by six to 10 members
he said september marks could close in on 05700 as an upside target while swiss francs could climb to a range between 06900 and 06950
penta systems international inc psli 4th qtr
india and japan to discuss iron ore prices
the private sectors downturn began in earnest in 1983 as oil prices slid and some companies were slow to react businessmen said
heating oil stocks were also expected to build between 700000 barrels and one mln from the 96 mln barrel level reported last week but a rise in distillate stocks was discounted as having a market impact at this time
market sources said the corn exports the absence of imports from the rest of the ec and the delay in shipments of corn from the us had pushed domestic corn prices up by around 025 pesetas a kilo today compared with yesterday
as a result of the acquisition inverness has bank debt of 180 mln dlrs it said
maturities will be between seven days and five years and paper will be issued in denominations of 250000 500000 and one mln stg
mercantile bancorp said its mercantile bank na raised its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
sales 1125 billion crowns vs 1022 billion
istat said the year on year fall reflected poorer performances in the footwear clothing textiles chemicals and metals industries
they are guaranteed by banco di sicilia
yesterday one or two large west german banks effectively drained the domestic money market of liquidity in order to achieve higher rates from their overnight deposits dealers said
greece and the soviet union have reached agreement in moscow on a joint venture for a 450 mln dlr alumina plant in greece government spokesman yannis roubatis said
ccx network inc said it has entered into a letter of intent to acquire privately held modern mailers inc and its affiliate anwalt inc for about 3200000 dlrs in common stock
thomas and betts corp said the us court of appeals for the federal circuit affirmed an earlier judgment by the us district court for the district of delaware directing a unit of litton industries lit to pay it 5781711 dlrs in damages for patent violations
rumor has it that the cbt grains are coming over here because the bonds are too crowded one midam trader said
sec charges merrill lynch uk managing director nahum vaskevitch with insider trading
net attributable loss 1714 mln dlrs vs loss 873 mln sales 22084 mln vs 17350 mln other income 1777 mln vs 1202 mln shrs 66667 mln vs same
following are highlights of the us agriculture department supply demand projections for the 1986 87 seasons in mln bushels with comparisons unless noted corn stocks aug 31 1987 at 5240 vs 5595 last month
the council ended its quarterly session today ahead of schedule
atcors consumer segment represents about 25 pct of its sales
gas carrier escaped gulf attack last week lloyds
speaking at a house foreign agriculture subcommittee roberts said the us has offered eep to china and poland and should also include the soviet union
london ore enquiries fixtures
it has 64 billion dlrs of loans to argentina brazil mexico and venezuela one of the highest exposures to lesser developed countries among us money centers
china will be short of sorghum in 1987 for the sixth successive year because high production costs and low profits discourage farmers from growing it the china daily business weekly said
coffee for delivery in may ended at 9928 cents a pound on the coffee sugar and cocoa exchange down 076 cent and the lowest price since august 1981
armtek arm to sell industrial tire unit
but some bankers are speculating that the brazilian deal when it comes will be radically different
usair they said is the least likely to be bought
barclays bank plc bcsl has the most exposure to nigerias debt and is chairing a bank steering committee looking at the problem the banking sources said
note company paid total 37 cents in previously declared quarterly divs vs 15
australian foreign ship ban ends
the disease is extremely difficult to control
industry sources said the 33 will seek to renew the cartel in 1988 89 in the belief demand will remain sluggish
the other sector commanding market attention today was eurosterling which soared in line with uk government bonds
first interstate bancorp said its 1987 pre tax income could be reduced by about 335 mln dlrs if it decides to reclassify its 339 mln dlrs in medium to long term loans to brazil as nonperforming
the hong kong trader said calendar 1987 imports will be slightly less than those of 1986 because of firm world prices and serious foreign exchange constraints which he said are likely to continue until at least end 1988
certificates are an integral part of usdas long range market oriented farm policy he said
the chubb corp said it completed the previously announced merger of its subsidiary with and into sovereign corp sovr a life insurance holding company
around a third of silver production comes from heavily indebted mexico and peru
upon completion of the proposed transaction jostens will own 20 pct of careercoms stock which it intends to hold for investment purposes it said
jordan gets 964 mln dlrs in world bank loans
the company said in its annual report that it would increase spending for exploration and development of petroleum resources by about three pct to 614 mln dlrs from 1986s 595 mln dlrs assuming oil prices hold around current levels
a byproduct of the soviet buying has been a sharp rise in barge freight costs quoted for carrying grain from the midwest to the export terminals cash dealers said
united telecommunications said the transition of us sprints nationwide fiberoptic network is proceeding ahead of schedule
derose industries inc dri 4th qtr
stanley said however that any reduction in first quarter operating income will be offset by reduced interest expense and that first quarter net income will be about flat with first quarter 1986 net income of 14 cts a share or 286000 dlrs
the indicated totals include reported commitments to both named and unnamed destinations sales on exporters own account and optional origin sales plus actual exports already made during the respective marketing seasons
the naira finished at 38050 to the dollar against 39050 last week
international demand was also slow but some inquiries from far eastern buyers were noted in south american producer countries the sources said
its other big activity aircraft component manufacture has performed so well that mhi now accounts for half of the money tokyo spends on defence procurement each year
the internal revenue service estimates about 100 mln individual income tax returns will be filed for the 1987 tax season up from last years 94 mln forms
he added the french prime minister was visibly angered as he the hour long meeting
anybody representing large groups of soybean producers would not be very excited about supporting a lower soybean loan oconner said
the new incorporation certificate and bylaws will provide for among other things a fair price provision requiring that certain transactions with interested 15 pct stockholders be approved by an 80 pct vote of stockholders excluding shares held by such interested stockholders
this represents a premium of 20 pct
india took three cargoes of rbd olein at tender
it still expects to complete the entire clean up by the end of 1988 he added
but komatsu said the move will pay off in time
however walker noted that this included a revised definition of reserves
major rubber producers to meet in singapore
new agency to give credit ratings on eurobonds
gross profit for 1986 reached 3405 mln francs with 276 mln francs subtracted for ordinary depreciation
for sugar japans pse was 484 pct versus 279 pct in the ec and 131 pct for the us the study shows
the stock pays annual interest on april 1
banque francaise de lagriculture said it is issuing for its own account a 300 mln franc variable rate seven year and 13 day domestic bond which it will lead along with lunion de garantie et de placement
shr 113 dlrs vs 87 cts net 5010000 vs 3868000 nine mths shr 491 dlrs vs 484 dlrs net 218 mln vs 215 mln note current quarter figures include gain of 47 mln dlrs on property sales vs gain of 29 mln in prior years quarter
purolator lost 576 mln dlrs on 8414 mln dlrs in revenues
wainoco oil corp said it is undergoing a recapitalization program with a proposed offering of two mln units consisting of common shares and warrants the planned redemption of its shareholder value rights and a change in its corporate structure that substantially reduces futurer income taxes
far east customers primarily japan which buys an average 180000 barrels per day of which 150000 is isthmus pay retroactively while european and us clients are charged per delivery
pay n pak stores inc said it received a revision to one of the two previously disclosed proposals to buy the company
california biotechnology inc said it expects to report a loss of 1300000 dlrs to 1600000 dlrs for the first quarter due to increased investment in research and manufacturing and a scaleup of production
federal funds were trading at 7 5 8 pct at the time of the direct injection of temporary reserves dealers said
quinn echoed the sentiment of many analysts that there are large amounts of cash waiting to be invested
the sugar is for march 15 april 15 shipment and bids are being sought based on the new york may delivery futures contract they added
the spokesman could not say when this might be but trade sources said an announcement could come at the end of the week opening registraions from monday
treasury secretary james baker said that massive new lending to the debtor nations could actually increase their difficulties in the period ahead without protections
this could result in some rate reductions and refunds to customers reuss said he is encouraged by the prospects for progress in centels business communications cable television and cellular telephone units
shr loss 13 cts vs loss 20 cts net loss 1343266 vs loss 2086086 revs 823 mln vs 803 mln year shr loss 183 dlrs vs profit 124 dlrs net loss 192 mln vs profit 134 mln revs 3881 mln vs 3703 mln note 1987 year includes charge 150 mln dlrs pre tax for inventory valuation allowance
there is no fundamental weakness of the paris accord he said
in the 1986 annual repoprt he said lengthy negotiations had brought agreement with the tokyo and london stock exchanges for fuller but still not complete access to market data through services
moodys investors service inc said it upgraded to aaa from aa 1 the insurance rating of general electric mortgage insurance co of ohio a unit of general electric co
theyve made bold moves to put everything in place
hudsons bay also said its markborough properties subsidiary had an operating profit of 1086 mln dlrs up from 988 mln dlrs the year before
the weakness of the west german economy is the biggest single factor with import growth there expected to feature a sluggish 35 pct growth in 1987 against the 65 pct forecast in december the eiu said
the lack of marketing also has supported pork bellies but prices drifted lower for moderate losses in nearby months as speculators sold contracts to take profits traders said
cancapital corp said it sold four mln common shares and one mln common share purchase warrants of poco petroleums ltd to merrill lynch canada inc and first marathon securities ltd for resale to public investors
the statement said bhpgm would also hold bhps 45 pct stake in the coronation hill property in the northern territory and its 55 pct stake in a new venture near gympie queensland
but he said the imminent expiration of the leveraged buyout groups offer has forced the company to make an unsolicited tender offer of its own
the outside is old but the inside is ultra modern with robots and computers securities analysts at major securities houses agreed that mhi has pared costs more quickly than its competitors
lilco said the downward revision in its 1986 earnings is a reserve established to reflect a settlement agreement with the staff of new york states public service commission respecting the utilitys spending on a nuclear power station planned for but never built at jamestown ny the company declined to detail the settlement explaining the settlement has not been approved by the commission
hughes tool ht board approves merger
the issues are intended to help curb the growth of the m 1b money supply which has expanded as a result of large foreign exchange reserves
july soymeal has already moved to a premium over the august through october months and old crop july new crop november soybeans may also move to a july premium later this month they added
dole mulls bill to extend ethanol tax exemption
the polymer division based in aurora ohio had 1986 sales of 86 mln dlrs fluorocarbon also said
irving would not comment on how the drop in the market affects its position on the bid or whether it would buy back any of its own shares
asked how he would respond to farm groups and congressmen urging the us to offer a wheat bonus to the soviet union lyng said he would be listen but be non committal
lord catto said the second half of 1986 had been one of the most traumatic in our history but that clients and staff had been supportive
nova an alberta corp 4th qtr shr loss 15 cts vs loss 109 dlrs
shultz predicts rapid narrowing of us trade gap
the products sent for testing were bought in state shops and private farmers markets in moscow it added
the yens surge has caused layoffs in the mainstay steel and shipbuilding industries
remaining recoverable gas reserves in the areas held by the santos ltd stoss led cooper basin joint ventures have been upgraded to 27217 billion cubic feet bcf from the 2466 estimated last may santos said
newhall investment properties said it declared a special distribution of 50 cts per share payable june one to unitholders of record april 24
shr 14 cts vs 22 cts net 188000 vs 307000 sales 146 mln vs 121 mln year shr 44 cts vs 63 cts net 600000 vs 852000 sales 510 mln vs 457 mln
lower global interest rates in 1986 had nipped earnings margins via traditional lending activities he said
in contrast the last railway issue in january totalled 11 billion marks of which 900 mln was distributed for immediate sale
the following proposed securities offerings were filed recently with the securities and exchange commission allied supermarkets inc asu offering of 140 mln dlrs of senior subordinated discount debentures due 1999 and 100 mln dlrs of subordinated debentures due 2001 through drexel burnham lambert inc and donaldson lufkin and jenrette securities corp
about 2800 members of local 222 are affected by the shutdown
michigan general mgl to sell krestmark unit
additional shraes of breakwater will be issued if warrants and options of novamin are exercised
div 47p making 87 an increase of 139 pct shr 163p vs 179p adjusted pretax profit 3709 mln stg vs 3455 mln net 2212 mln vs 2413 mln interest payable 810 mln vs 535 mln share of associated cos 688 mln vs 542 mln turnover 122 billion stg vs 110 billion
alpha industries aha sells division
xebec xebc to report 2nd qtr loss
first union funco completes acquisitions
the london metal exchange lme issued turnovers for march 1987 with figures for corresponding period 1986 in brackets
us agriculture secretary richard lyng has asked japan to open its farm market further to help washington cut its trade deficit and ease protectionist pressures an agriculture ministry official told reporters
economists polled by had forecast m 1 in a range from down 500 mln dlrs to up 45 billion dlrs
the bank of england does not favour the introduction of rules to shield companies from hostile takeover attempts its governor robin leigh pemberton said
communications corp of america 2nd qtr dec 31
bankers see sharp rise in thai foreign reserves
telecom said 52 mln dlrs of 1990 bonds and 10 mln dlrs of 1993 bonds are already on issue
the national farmers union nfu remains concerned about the future ownership of british sugar despite last weeks decision by the government to block bids from italys gruppo ferruzzi and britains tate amp lyle plc
what the soviets want is something equivalent to the lowest price being paid by anyone in the world he said
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
the dispute began on january 19 in protest at employers plans for 800 redundancies from the 4000 strong workforce starting with 350 this year
five of the plants are located in the united states
pro forma debt leverage drops to about 30 pct from 67 pct at september 30 1986
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
consolidated turnover 455 billion francs vs 454 billion
brnf liquidating trust said trustees declared a 13th liquidating dividend of 110 dlrs per unit payable april one to holders of record of its series a b and c certificates on march 18
feds johnson warns against lower dollar
institutes divided on outlook for german economy
japan understands us attack on iran oil platform
shultz said west germany and other nations would also do well to look at what they could do to stimulate demand
fed approves citicorp purchase of some assets of sears calif
thats very important it shows the economy in a very good state indeed skeoch said
because the banks want to isolate hard line brazil by clinching a deal with argentina as soon as practicable bankers said the argentine package is likely to be along the established lines of the baker plan
terms were not disclosed
the dividend is payable july one to shareholders of record may 29 it said
the statement said the agreement with pdvsa will enable the company to supply a steady flow of refined products to its customers
shell canada is 72 pct owned by royal dutch shell group rd
the united states and japan are on the brink of serious conflict on trade especially over semiconductors japanese unwillingness for public bodies to buy us super computers and barriers to us firms seeking to participate in the eight billion dlr kansai airport project us trade representative clayton yeutter said
giordano said the market was ignoring the progress being made toward reducing the us budget deficit
at this weeks tender on monday the bank sold a total of 484 billion francs worth of 13 and 24 week bills against an original offer of four billion francs worth and demand for 1414 billion francs
terms of the sale were not disclosed
it slid to 2917 marks from 2950 yesterday and from a peak of about 298 recently
finance minister ronnie de mel said in an interview published today by the daily news that there was likelihood of sri lanka obtaining all of that aid despite intense lobbying by pro tamil and human rights groups abroad
grain ships loading at portland
in addition usi is presently constructing a 300 mln pound linear low density polyethylene facility scheduled to come on stream in early 1988 at its port author texas plant
the shares will outperform the market over the next 18 months he said
continentals stock closed at seven in over the counter trading
burlington industries inc said it filed with the securities and exchange commission registration statements covering two offerings of debt securities
strikes by brazils 40000 seamen and by petrol station owners in four states are causing major headaches to a government already wrestling with a debt crisis
sight deposits of commercial banks at the swiss national bank rose 7437 mln swiss francs in the second 10 days of march to 840 billion the national bank said
first interstate i debt downgraded by s p
hughes kistler speaking to reporters after 85 pct of hughes shareholders approved the merger said the revised terms of the agreement give the companies six months to find a buyer for the reed drilling bit business
sun co was the first to raise crude oil postings yesterday afternoon and today many other companies are following
the men were accused of conspiring to bribe government officials and defaud the social security administration
moodys may lower gaf gaf borg warner bor 
an advisory panel to the ministry of international trade and industry miti recommended this week that the government press ahead with deregulation of the oil industry including the lifting of gasoline production quotas to help oil companies increase their international competitiveness
he predicted the united states would respond to any future major iranian challenges by hitting irans naval base at bandar abbas on the straits of hormuz followed by mining the approaches to irans oil export terminal on kharg island
shr loss one ct vs loss 216 dlrs net loss 30000 vs loss 124 mln revs 274 mln vs 383 mln
they said the agreement followed months of talks with the soviet union and the us on ways to secure its oil exports after iran started to attack kuwaiti connected vessels in retaliation for kuwaits backing for irans war enemy iraq
if the awb is unable because of a short term cut in plantings to meet the needs of the markets it has developed with much time and effort it may have great difficulty selling wheat to those markets in the future condon said
uk government bond dealers noted that under the influence of stronger sterling and the further fall in money market rates prices this morning had opened as much as 3 4 point higher at the longer end of the market
in the letter the partnership said it was confident it could obtain the financing and close the transaction promptly
fair lanes inc said its shareholders approved the previously announced merger with maricorp inc a unit of northern pacific corp under terms of the merger fair lanes said each of its shares of common stock will be converted into the right to receive 13043 shares of btr realty inc which is owned by fair lines
the delegate said unless major producers like brazil showed readiness to negotiate new quota shares prospects for a quota accord in october also looked bleak
the andean development corp caf said today it is lending 117 mln dlrs to ecuador to help repair 25 miles of oil pipeline destroyed by an earthquake earlier this month
denominations are one mln dlrs
the ministry said in a statement 51 pct of the banks capital had been sold to a solid core of large investors including insurance companies and michelin subsidiary spika for 145 pct of the public offer price
however he said not enough financial details are known about domes debt restructuring to compare the value of transcanadas proposed offer
lim noted andriessen this week promised that if the tax was adopted and third countries suffered export losses as a result they would be compensated through access to the ec for alternative exports
perkins family restaurants lp pfr 3rd qtr
rainbow and equiticorp place ultramar stake
a strong yen would make japanese goods more expensive on world markets while making imports into the country cheaper
he indicated if the loan rate were 456 dlrs usda could then consider ways to make us soybeans more competitive such as using certificates to further buydown the loan rate
consolidated bathurst which reported operating profit of 104 mln dlrs last year on sales of 202 billion dlrs said its joint venture acquisition of a market pulp mill at castlegar bc last year broadens its product range and will contribute to equity earnings
however the official slaid the usda replied only that it would consider the request
anz securities asia ltd is lead manager for the issue
shortly after poehl spoke the bundesbank announced a tender for a securities repurchase pact at a fixed rate of 380 pct
however they stress that money growth will not be strong enough to prevent the fed from dropping interest rates further if the economy shows evidence of weakness
the 1987 annual dividend will be 40 cts a share it said
interest rates on loans by japans private banks to the two projects are expected to be reduced to around five pct from the current seven to eight pct but an agreement has yet to be reached industry sources said
thai tin exports rise in january
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
lisec tinto who formulated merrills latest asset mix recommendations with new chief investment strategist charles clough said there may be some consolidation of recent stock price gains but the market appears to have good potential
shr 16 cts vs 11 cts net 1888000 vs 1307000 revs 7365000 vs 5877000 year oper shr 58 cts vs 40 cts oper net 7005000 vs 4866000 revs 271 mln vs 211 mln note prior year net excludes 263000 dlr loss from discontinued operations and 2073000 dlrs on disposal
dutch trade fully in balance but down in january
dividend pay april 30 record april 16
for east malaysia it put production during the period at 297000 tonnes after 312000 a year earlier and for west malaysia 275 mln compared with just over 30 mln during jan sept 1986
molpus told a senate agriculture subcommittee that ame and other livestock and farm groups intended to file a petition under section 301 of the general agreement on tariffs and trade against an ec directive that effective april 30 will require us meat processing plants to comply fully with ec standards
oper shr 32 cts vs 37 cts oper net 189 mln vs 216 mln revs 3521 mln vs 3230 mln note 1987 net excludes extraordinary gain of 28 mln dlrs or five cts shr from sale of surplus property
there are obvious problems at the moment in the trade area but we do not wish those problems to divert attention from important areas of cooperation that continue to exist on security and political issues he said
initially the january position was reported as flat
payment will be due on june 1
federal funds opened at 6 1 16 pct and firmed to 6 1 8 pct in early trading
hoechst celanese corp a recently formed subsidiary of hoechst ag of frankfurt west germany filed with the securities and exchange commission for a 500 mln dlr debt offering to repay part of its merger debt
it also said it decided to sell its claims adjusting and admininistrative operations and its automobile dealer insurance unit creating a reserve of about nine mln dlrs in the fourth quarter 1986 for the sale
we believe the euroyen bond should remain mainly in the euroyen market he said
mark iv industries inc said it plans to begin a tender offer at 25 dlrs a share for all outstanding shares of conrac corp cax a stamford conn maker of control instruments and telecommunications products
detroit edison also said because of a decision to modify fermis reheating apparatus the company has set back the schedule for the plants commercial operation run to early june from may one
bigelow said the company is continuing its previously announced 10 mln share repurchase program and has bought back 41 mln of its own shares
ashland oil inc
minpeco lifts force majeure on zinc ingot shipments from cajamarquilla spokesman
brazil would not have suspended payments on debt owed to foreign banks if it had received more and faster financing from official lending agencies finance minister dilson funaro said
national westminster bank usa is a wholly owned subsidiary of national westminster bank plc
yugoslavian oil firm starts working with french
diagnostic manufactures medical immunological diagnostic test kits
ford canada cuts annual dividend by six dlrs to six dlrs cash a share
opec may be forced to meet before a scheduled june session to readdress its production cutting agreement if the organization wants to halt the current slide in oil prices oil industry analysts said
the world bank said it approved a 90 mln dlr loan to yugoslavias third largest bank to support a project promoting energy conservation and substituting lower cost energy sources for present sources
bank of thailand statistics show foreign reserves rose to 395 billion at end january from 303 billion a year earlier
as part of the agreement lsb said it also would transfer assets valued of not less than 30 mln dlrs to northwest federal which is located in woodward okla
the spokesman gave no estimate of what he thought the find discovered on wednesday was worth
swedish mining and metals group boliden ab said it would buy the mining equipment operations of the us allis chalmers corp amounting to more than 50 pct of group sales for 600 mln crowns
gleske added targeting the exchange rate even within a wide margin will meet with serious objections where there is a clearly perceived potential for conflict between domestic and external policy priorities commenting on the paris currency accord gleske said its chances of stabilising exchange rates rested heavily on current interest rate differentials being maintained
britain opposes the proposed merger
decision expected on uk royal ordnance sale
his 72 pct stake makes up a total of 722000 shares
standard and poors corp said it affirmed mack trucks incs 40 mln dlrs of bb plus senior debt
after that the rate will be reset quarterly
thomas berger deputy assistant secretary of the treasury said that a further drop in the exchange value of the dollar could cause prices to go up and trigger inflation
shr profit three cts vs profit nine cts net profit 102136 vs profit 307516 revs 8549182 vs 8469476 nine mths shr loss 13 cts vs profit 28 cts net loss 458823 vs profit 1014969 revs 255 mln vs 246 mln
finance secretary jaime ongpin has said the government does not intend to devalue the peso and wants it to be flexible and able to continue to respond to market conditions
he said the highest priority should be given to policy changes in the united states especially reducing the budget deficit and encouraging domestic savings
widdrington said labatts strategy for us expansion stemmed partly from its strong market position in the canadian food and beverage industry
the price of gold bullion is likely to rise in the second half of the year on increased private investor demand west german analysts said
industries had complained they were losing sales to foreign competitors who were allowed to export freely products us companies could not sell abroad
mr
the orenda division maintained a high level of activity in aircraft engine repair and overhaul and in the manufacture of engine components
industrial equity pacific ltd a hong kong based investment firm leading a group holding 191 pct of calmat cos common stock said it intends to submit to calmat a proposal for a possible business combination
pittston co said it has tentatively agreed to acquire wtc international nv in a tax free exchange of stock
were under no illusions about the legal binding force of these recommendations he said
the us meat industry has launched an aggressive promotion campaign in japan to increase consumer awareness of us beef and persuade the japanese government to relax current beef import quotas
this price difference makes american corn competitive albert melnikov commercial counselor for the soviet union told 
the corresponding yield jumped to 783 pct from 766
billiton international metals bv the dutch mining company has urged surinam to change policies it says are causing heavy losses on bauxite mining operations there a company spokesman said
the case is being appealed to the us appeals court
when we talk business we would seek profitability and sometimes forget vulnerability of high dependence on a single supplier said one
first pennsylvania corp fpa 1st qtr net
kacek
that will at least take a couple of days if not weeks he said
proceeds from sale of the shares priced at 5625 dlrs each will be used to buy and deliver 4985000 ounces of silver to placer equity said
rostenkowski opposes protectionist trade bill
shr 484 cents vs 406 yr div 37 cents vs 15 net 6050 mln dlrs vs 5076 mln turnover 13454 mln vs 10063 mln other income 102 mln vs 920000 shrs 125 mln vs same
investor has 80 pct of allegheny intl ag 
world group turnover 4047 billion vs 4438 billion
cbs issues 400 mln dlrs in convertible debt
american brands inc amb files with sec
tokyo is the worlds most expensive city for business travellers a survey issued this month by employment conditions abroad said
wpp group extending expiration of its merger proposal to jwt group until june 22
the loan has a swap agreement but a bank spokesman declined to give further details
the bonds are non callable and will be available in denominations of 1000 and 10000 dlrs
goodwood had a total of 873 mln dlrs in fixed deposits bank balances and accrued interest due from nbb as of last november according to goodwoods annual report
undersecretary of commerce bruce smart said we are gratified to learn that companies in canada have begun paying the export charge on lumber he added the agreement was important to the health of the us lumber industry and he intended to see that it was fully carried out
theyll temper it said judy weissman fcoj analyst with shearson lehman bros
the officials will discuss linking rubber markets in the four countries to improve price transparency the sources said
tenera lp said it will make an initial quarterly distribution of 17 cts per unit on april 15 to holders of record march 31
brazil wants to increase its steel exports to the united states now limited because of tough import restraints set in 1984 by the reagan administration a spokeswoman for the brazilian steel institute ibs said
including acceptances loans fell 475 mln dlrs to 6516 billion
shr profit nine cts vs loss 58 cts net profit 738000 vs loss 4643000 sales 509 mln vs 438 mln year shr profit 150 dlrs vs loss 61 cts net profit 121 mln vs loss 4875000 sales 1953 mln vs 1742 mln note 1985 net both periods includes 4952000 dlr provision for plant closing
saitama bank ltd is issuing 100 mln swiss francs of convertible notes due september 30 1992 paying an indicated 1 1 4 pct lead manager credit suisse said
sheikh abdul aziz said that during that year the government decided to limit recurrent expenditure each month to one twelfth of the previous fiscal years allocations minus 15 pct
its stock has traded heavily and arbitragers said they believe jacobs may not be the only investor who has a sizeable position in the company
some 800 houses were flattened and 19 boats sunk it said
bermuda star line bsl to make acquisition
it is emphasizing its new focus by changing its name to allegis as of may one
darman said baker had been misinterpreted by markets which wrongly believed earlier remarks suggested he wanted a further decline in the dollar
zenchiku co ltd is issuing a 40 mln dlr equity warrant eurobond due april 30 1992 paying an indicated coupon of 2 1 4 pct and priced at par lead manager daiwa europe ltd said
lower us rice stocks strong exports usda
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
london sugar trades at session highs by midmorning
first city fcy sells yale nutone units
drg plc drgll is issuing a 40 mln stg convertible eurobond due september 30 2002 with an indicated coupon of six to 6 1 4 pct and priced at par lead manager baring brothers and co ltd said
the issue matures on may 1 2001 and is priced at 30 pct
us trade representative clayton yeutter said trade ministers meeting here have reached a general consensus on agricultural trade reform under the latest uruguay round of the general agreement on tariffs and trade gatt yeutter gave no precise details of the understanding but told journalists the consensus covers the principles involved in agricultural trade reform and what needs to be done to improve the global situation in agriculture
proceeds from the note sale and a 300 mln dlr issue of convertible subordinated debentures will be used to repay indebtedness incurred by carbides recapitalization plan
dixons then extended the offer until yesterday and earlier today indicated that a substantial number of tendered cyclops shares had been withdrawn leaving it with only 852000 shares or just over 20 pct of the roughly 426 mln cyclops shares outstanding
foreign earnings were hit by the lower dollar and temporary payment difficulties by clients
the other problem is it is often difficult to supply or buy commodities which the other party wants another added barter is also restrictive
indonesia relied on oil and gas exports for 70 pct of its export revenue until last years fall in crude prices
on sept 25 a day after allied disclosed that its board had urged rejection of campeaus sept 12 tender offer for 58 dlrs a share allied began negotiating the sale of six shopping centers to debartolo the sec said
adobe resources corp adb 3rd qtr net
according to figures from swiss bank corp total note issues by foreign borrowers reached 186 billion swiss francs last year compared with 236 billion francs borrowed in the form of public bonds
the april index base 1980 stood at 103
avg shrs not given
the shipment periods are march 15 april 20 12500 tonnes and april 1 may 5 12500 tonnes the bonus awards were made to peavey company and will be paid in the form of commodities from ccc stocks it said
congressional sources said the program cut is so drastic it is unlikely to be adopted in either the house or senate because politically influential sugar and corn growers and high fructose corn syrup producers will strongly resist
reid ashman inc said it has decided to divest its test products division located in santa clara
if foreign exchange rates were constant foreign sales would have decreased 10 pct and total sales 04 pct the company said
moodys downgrades bankamerica affirms units affects 55 billion dlrs of debt
something is wrong with the system
infinity infta to purchase am fm station
the proposed contract is based on 48000 pound lots of 55 pct high fructose corn syrup the equivalent of one tank truck of the sweetening agent derived from corn in the wet milling process
a new international natural rubber agreement inra will be formally adopted tomorrow chairman of the negotiating conference manaspas xuto of thailand said
swiss national bank president pierre languetin said a wider interest rate differential between the dollar and stronger currencies was needed to brake the dollars fall
the thai mineral resources department is expected to disallow new tin mines opening this year to prevent excessive production industry sources said
the campaign of lightning strikes in the ports general cargo sector began on january 19 in protest at employers plans for 800 redundancies from the sectors 4000 strong workforce by 1990 starting with 350 this year
results reflected trading in subsidiary humphreys estate group but excluded influence of a bulk of properties which the firm bought late last year from hongkong land co ltd hkldhk for 14 billion dlrs
the financing involves a 70 mln dlr loan which is available for drawing in the six months after signing and a 75 mln dlr revolving credit which is available for the life of the credit
buyers reserve the right to phase down or out liftings should the monthly price be set at over 95 pct of arabian lights gsp
june canadian dollar closed at 07656 tuesday
i think there have been potential breakdowns in that process he said adding that an actual breakdown would be very unfortunate he declined to comment on the situation of specific nations and said it was not the feds role to become involved in such talks
three month bills worth 3500 billion lire will be offered for competitive tender at a base price of 9750 pct giving an effective annualised compound yield after tax of 987 pct
if the deal had not made sense obviously we would not have done it mangan noted
however the dealers were uncertain exactly how the dispute over the shareholdings had been resolved
selling of buffer stock rubber had levelled off during the past week to 10 days and this could reflect a wait and see attitude by buyers he said
under the acquisition agreement the company said sealy will enter into a cash settlement of its litigation with michigan sealy
the bank of england said it has operated in the money market this morning purchasing 170 mln stg bank bills
the union had requested a three pct wage increase in each year of a two year contract
allegheny international inc said it sold its wilkinson sword consumer group to the swedish match co of stockholm for for 230 mln dlrs
last year it was one billion dlrs against a targeted 16 billion official figures show
eighty one pct of the membership voted he said
kcbt said the cftc proposal would reduce hedging efficiency constrain growth of intermarket spreading and of the exchanges wheat options contract and impair its ability to attract large speculators
its not a high quality investment situation yet but theyve come a long way he said
marine midland banks mm has an agreement in principal to acquire first pennsylvania
shr 10 cts vs 14 cts net 913000 vs 1273000 revs 377 mln vs 247 mln 12 mths shr 61 cts vs 60 cts net 5529000 vs 5448000 revs 1236 mln vs 968 mln note net for qtr and yr 1986 and 1985 adjusted to reflect retroactive effect of three for two stock splits distributed to shareholders in july 1986 and august 1985
asea capital issues 10 billion yen bond
us official to visit japan as trade row grows
exxon xon extends mid grade unleaded marketing
the official said in the statement that no such emergency session was scheduled because of member countries firm determination to defend the price system agreed in december
moodys pointed out that neither texas air nor continental have assumed the debt service obligations of people express which currently carries b 3 senior secured debt and caa senior unsecured debt
shell canada cuts crude oil prices by up to 127 canadian dlrs bbl effective march one
siaf a subsidiary of swedish match since 1946 had a turnover last year of 62 mln crowns the swedish group said in a statement
economists said oil earnings could recover this year to about 20 billion dlrs and nominal gross domestic product could grow by about three pct the first rise since 1982
he said the latest discount rate cut to 25 pct should stabilize exchange rates and expand domestic demand
it also increases the dominance of the public sector at a time when the government is publicly urging private enterprise to take over the lead role in the economy
herrington did not disclose what tax incentives he might advocate but us officials have shown interest in tax benefits for oil and gas exploration and for research and development into new ways to extract oil which is now considered uneconomical to produce
this is going to take a big bite out of profits the ruling lifted a six pct ceiling on interest rates paid on deposits of up to 180 days
there is no need for action hermann remsperger chief economist of berliner handels and frankfurter bank bhf said
de nationale investeringsbank nv of the netherlands has signed a 31 billion yen bullet loan agreement arranger mitsubishi bank europe sa said
texas american bancshares inc said three of its texas american banks will be merged into texas american bank galleria
canadian money supply falls in week
oper shr loss six cts vs profit four cts oper net loss 58388 vs profit 34101 revs 2419203 vs 2145967 1st half oper shr profit six cts vs profit 18 cts oper net profit 61763 vs profit 172166 revs 5731582 vs 4458040 note prior year net excludes extraordinary credits of 4500 dlrs in quarter and 46000 dlrs in half
avnet inc avt files for debenture offering
the central bank bought bills for resale to the market in equal amounts on april 1 2 and 3 at an interest rate of 10 7 16 pct
a national bank spokesman said the latest adjustment would bring the rates closer in line with currently prevailing interbank interest rates
speculation is that china will need the sugar for the may july period
earlier the bank revised its forecast of the liquidity position to flat from its original estimate of a 100 mln stg surplus
1986 3rd qtr and nine mths oper net excludes tax carryforward gains of 7446000 dlrs and 9814000 dlrs respectively
taiwan proposes further tariff cuts
carolin mines ltd said recent assays of tailings at its hope british columbia mine indicated that ounces of gold per ton ranged from 064 to 050
the chicago board of trade cbt achieved record volume in trading of 10 year us treasury note futures options april 10
maize plantings would be down in 1987 88 but yields were expected to be higher the agpm official said
f indicated total for season
in addition the united states must reduce its budget deficit and foreign nations need to provide stimulus to their domestic economies volcker said
the six agreed to cooperate to stabilise exchange rates at around current levels
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
he said the awb expects the area sown to be about 107 mln hectares down from 113 mln in 1986 87 when the crop was about 16 mln tonnes
the non callable bond is guaranteed by australia and will be listed in luxembourg
the london stock exchange has no immediate comment on the us insider trading charge against a senior london executive of merrill lynch and co mer an exchange spokesman said
ual inc citing company policy told the new york stock exchange it would not comment on the unusual rise in its stock
no date was established for the renewal of payments
during the balance of 1987 exley said ncr will pay close attention to increasing its penetration of major accounts expanding its third party distribution channels and continuing its introduction of new products
dutch coffee roasters association secretary jan de vries said although the roasters were disappointed at the failure of consumer and producer ico representatives to agree on quota reintroduction it was equally important that quotas be reallocated on a more equitable basis
delta said it feels the court has erred and should reconsider the order
group bank net profit rose to 27552 mln marks in 1986 from 22273 mln the previous year and parent bank net profit increased to 18763 mln marks from 16158 mln
we have not agreed to anything guinn said but added he would soon recieve a feasibility study on the venture and the company would make a decision soon on participating
telecom received 107 mln dlrs at closing with the balance to be paid in installments
in addition the spokesman said the company had put into production an oil well in the altamont bluebell field utah
atlantic richfield co said it has acquired exclusive worldwide rights to the methyl methacrylate technology of texas eastern corps halcon sd group affiliate for undisclosed terms
it also forces the administration to act rapidly when an industry complains that a surge in imports threatens its existence
full acceptance of the offer would involve the issue of about 298 mln new woolworth shares or 14 pct of the enlarged share capital
in the third agreement year sales totaled 6960700 tonnes 152600 tonnes of wheat and 6808100 tonnes of corn
us lines filed for protection from its creditors under chapter eleven of the us federal law last november
agents for the sale are wood gundy inc and dominion securities inc
941 mln parent company net profit 1538 mln francs vs
shipments during december 1986 amounted to 418755 tonnes against 257844 tonnes in the same month of 1985
the agricultural stabilization and conservation service ascs has established these unit values for commodities offered from government stocks through redemption of commodity credit corporation commodity certificates effective through the next business day
ite appears the koreans are shifting back to us corn in light of competitive us prices and uncertain supplies from china argentina and south africa it said
oil traders in new york said exxon corps exxon usa unit reduced the price it charges contract barge customers for heating oil in new york harbor 075 cent a gallon effective today
other than that the firm said there was no specific purpose in its purchases
reserve holdings in us dlrs at end of march versus end of february were as follows
shr loss seven cts vs profit five cts net loss 149421 vs profit 103120 sales 1698345 vs 1920010 six mths shr loss five cts vs profit nine cts net loss 100472 vs profit 191614 sales 3836794 vs 3650322
at the end of 1986 he said the value of foreign assets in the us exceeded the value of us assets abroad by 240 billion dlrs compared to five years ago when the us had a surplus in assets of 141 billion
for later positions the appropriate carrying costs will be taken into account
some 80000 hectares of agricultural land and gardens had been inundated damaging tea plantations and orange groves the newspaper said
south africa will disclose later today new arrangements for its repayment of foreign debt the finance ministry said
net includes pretax gains on sale of assets of 162000 dlrs vs 400000 dlrs in quarter and 877000 dlrs vs 1229000 dlrs in nine mths
tenders were accepted for 255 billion dlrs of 91 day bills at an average price of 98296 dlrs against 98310 dlrs last week
shr 57 cts vs not given net 6889000 vs 107 mln nine mths shr 167 dlrs vs not given net 201 mln vs 230 mln note company went public in november 1986
ford motor credit f to redeem debentures
period ended jan 31 shr seven cts vs 14 cts net 136000 vs 274000 sales 484 mln vs 382 mln nine mths shr 30 cts vs 17 cts net 573000 vs 328000 sales 1400 mln vs 1024 mln note prior year period ended sept 30 comparable periods reflect change in fiscal yearend to april from december
uk interest rates look set to move lower even after mondays half point cut in bank base rates to 10 1 2 pct analysts said citing as evidence the suspension of a british national savings issue yesterday
these chances seem to me to rest critically on the expectation that the current configuration of interest rates and the monetary policies behind them will assure smooth financing of current account imbalances in the months ahead gleske said past experience of currency adjustments had learned that markets are inclined to be impatient and will thus tend to overshoot he said this would seem to be unnecessary and should be avoided if at all possible monetary policies can help achieve this but only if markets believe that pledged changes in fiscal policies will lead to balanced international payments he said
ny analysts see coffee futures falling further
federal reserve board governor martha seger said there were signs of helpful stability in foreign exchange markets in recent weeks
norway is expected to seek a compromise solution to defuse a row between den norske stats oljeselskap a s statol statoil and conoco norge a s over which firm will operate the heidrun oil field government sources said
atlantic research corp atrco 3rd qtr net
it said the noteholders exercise price for 1125000 warrants was also reduced to 50 cts from 150 dlrs
it rose four cents against the us dollar on saturday to close at 3459
the exporters said over 10 mln bags of total registrations could have been the declaration of sales made in the six weeks during which books were closed
american express cos stock fell sharply reflecting in part investors disappointment that the company did not make an announcement about its plans for brokerage unit shearson lehman brothers traders said
there have been far fewer signs of the kuwaiti dinar market shifting from its natural base of kuwait and trading in bahrain and london is still limited
shell also said it will contract exclusively from socanav normal marine distribution requirements for domestic markets with some exceptions for an initial 10 year period
jim walter corp 2nd qtr shr 86 cts vs 62 cts
the fed said dealing in commercial paper was related to chase manhattans regular banking activities because this kind of instrument has many of the characteristics of a traditional commercial loan because of its short term nature commercial paper is customarily held to maturity like a commercial loan the fed order said
earlier in the session it had been at a high of 72 1 4
insider trading has not been eradicated but it has been inhibited and multimillions of dollars of profits that boesky and others have been siphoning off the markets are now flowing through to legitimate investors and traders shad said in his statement
the agent said delivery includes laydays of april 5 15
this would buy time for japan and west germany to speed up their economic growth and help bring down the us trade deficit
machline president of the sharp electronics group and a personal friend of sarneys told television reporters outside his farm that he wanted less government participation in the economy when the government announced a month ago that it was suspending interest payments on brazils 68 billion dlr debt to commercial banks it said this was a means of ensuring growth and avoiding recession
the mini refunding which will raise 927 billion dlrs in new cash comprises 10 billion dlrs of two year notes for auction on tuesday 775 billion dlrs of four year notes on wednesday and 725 billion dlrs of seven year notes on thursday
panama canal toll charges will not rise in the year to end september 1988 despite last octobers landslide which dumped 05 mln cubic yards of debris into the waterway canal commission administrator dennis mcauliffe said
procter pg appoints new agency for cookies
alusuisse plans 50 pct capital cut
pemex signs 500 mln dlr japan loan for pipeline
ubs led in late june an offering of 100 mln dlrs of five year notes issued by transamerica financial corp a subsidiary of transamerica corp ta that following september ubs priced as sole underwriter 100 mln dlrs of borg warner corp bor notes due 1991
federal reserve chairman paul volcker said last week that current data do not show the worsening in trade has reversed
the spokesman declined to comment on whether chrysler was interested in acquiring control of lamborghini or if the two sides were close to an accord
investors have 55 pct of datarex systems drx 
divi hotels dvh warrant price adjusted
taiwan will retender for the corn for may 15 30 shipment if via the gulf or june 1 15 via pacific northwest on march 6 but has not rescheduled a tender for sorghum they said
we take the current situation very seriously said the official who declined to be identified
qtly div nine cts vs eight cts prior qtr pay 20 april record 3 april
blockbuster bbec to acquire licensee
the company said detroit based faygo a soft drink maker has annual revenues of more than 100 mln dlrs
philip morris mo up on recommendations
the companys chemicals business outlook is mixed haynes said
bralorne resources ltd year loss
since then they have stepped up purchases of foreign stocks and sought to deepen their understandng of foreign markets and instruments
the auction results will be announced tomorrow
dcny said the dividend is payable april 15 1987 to shareholders of record april 1 1987
japan under attack over trade surplus
purchase price and other details of the agreement were not disclosed
hog and cattle slaughter guesstimates
mitsubishi motors australia makes 19 mln dlr loss
during the first quarter of calendar year 1987 they have been running at a lower rate compared to 1986
jefferies and co said it is making a market in the stock of usair group inc at 48 1 2 to 50
opec deliberately under 158 mln barrel ceiling to defend price subroto
but it said this differential between the growth of domestic and foreign demand would reverse in 1987 and 1988 thus weakening the international adjustment process it forecast a slowing in domestic growth to little over two pct but with a rise in exports of 33 pct in 1987 and 36 pct in 1988
west germanys siemens ag siegf has teamed up with the french group jeumont schneider in opposition to a bid from the us group att tn and the dutch philips telecommunications bv pgloas in association with the french telecommunications firm sat societe anonyme de telecommunications a third bid has been lodged by swedens ab lm ericsson ericst allied with french defence electronics group matra matrpa and bouygues sa bouypa
bayly corp said it acquired 55 pct of chutes corp a maker of denim oriented sportswear headquartered in seattle wash
the key three months interbank rate was 1 16 point firmer at 10 9 7 8 pct
the liberian vessel was concluding a trip from seven islands to hamburg
mickelberry mbc completes sale of unit
it said residual fuel stocks fell 250000 barrels to 3573 mln from 3598 mln barrels
precision target marketing ptmi 3rd qtr net
this compares with the governments 1986 87 deficit figure of 292 billion against an earlier forecast of 245 billion
commission discussions were closed to reporters but it was apparent from the news conference that task force members did not agree on all points in their report
we must be realistic about the immediate prospects for an expansion in voluntary commercial bank lending with the world bank playing an even more vigorous role in the debt crisis conable said in an interview with newsweek magazine
the government of japan reaffirmed its intention to further open up its domestic markets to foreign goods and services
french exports to nigeria were 342 billion francs in 1986 down from 494 billion in 1985 while nigerias exports to france were 563 billion francs in 1986 down from 1533 billion in 1985
north yemen at its weekend tender bought white sugar from a french operator acting on behalf of a swiss house at 21470 dlrs a tonne c and f traders said
qintex said as a result it has extended its tender offer for princeville shares until april three
the falling value of the dollar makes us commodities cheaper for foreign buyers stimulating demand
us senate panel votes to limit county loan rate changes starting with 1988 crops
ford which outstripped gm in earnings last year said its 1986 incentive bonuses totaled 167 mln dlrs slightly behind general motors 1691 mln
millet from buenos aires and rosario rose five per tonne to 140 and birdseed rose 15 to 205 at buenos aires
early morning gusty winds brought the wind chill to 15 and 25 degrees below zero
us asks japan end agriculture import controls
nrm energy nrm securities raised by moodys
were looking a more favoured market than perhaps the us where some people would be concerned about the value of the us dollar lloyds bank nza ltd chief economist will buttrose said
officials said there are already signs of that
it said the agreement covers the divisions tire production facility in clinton tenn and its plants serving original equipment and replacement markets
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
caesars world caw files suit against sosnoff
shr nine cts vs three cts net 549000 vs 72000 rev 70 mln vs 28 mln year shr 49 cts vs 32 cts net 2441000 vs 801000 rev 196 mln vs 97 mln
miami brazil says it expects to make no interest payments before march 31
japans ailing shipyards have won approval from the fair trade commission to form a cartel to slash production to about half of total capacity for one year effective april 1 industry sources said
oswald said national computers first quarter results will be down as a result of a major financial systems sales last year a higher effective tax rate and the increased number of shares outstanding
the company would like to have the option of providing long distance service within and outside its region he said
the average price was 9836 to give a yield of 3246 pct and lowest was 9833 giving 3314 pct the ministry said
hudsons bay holds about four mln shares of domes 10 pct series one cumulative subordinate convertible preferred shares
investors asked what this all meant to dec whose earnings and stock have been propelled by a strong slew of product introductions in the mid range area
the spokesman said the increase in imports from the us is in line with government efforts to reduce taiwans trade surplus with washington which rose to 361 billion us dlrs in the first quarter of 1987 from 278 billion a year ago
thirty four workers died in methane gas explosion at a coal mine last thursday
a company spokeswoman said the payable date for the split has not yet been fixed but would be shortly after the record date
however fukukawa said japan was ready to continue trade talks with the united states despite its failure to convince america to call off the threatened tariffs during two days of emergency talks which ended in washington yesterday
the remaining 200 billion yen will yield 39994 pct in a 39 day repurchase pact maturing on april 14 they said
he gave no details of the price increases
fresh talks have been scheduled for next tuesday he said
the bank of england said it provided the money market with late help of about 10 mln stg
it foreign earnings for oil and petrochemcial sales were 8023 billion dlrs
it said it sold the units to buyers it did not name due to increasing losses caused by the depressed petroleum equipment market
leading industrial nations to meet in april
an overwhelming majority of hughes tool co shareholders approved a merger agreement with baker international corp based on revised terms that allow the companies additional time to sell a drilling bit business as required by the us justice department
the company would not disclose details of the testing
the issue was announced monday at a price of 96 stg pct and dealers said the government brokers supplies were sold out this afternoon at a partly paid 20 20 32 stg pct
nigerian currency firms at latest auction
the spokesman told that brazils suggestion will be communicated by telex to brazils 700 bank creditors
the figures confirm provisional data issued by the bank on march 19
paris group publishing daily franc tin price
the group said that since its last sec filing made jan
he said there were signs of movement on the case
qtr 1986 includes a seven cts per shr gain due to net after tax foreign currency exchange effect
white sugar denatured and non denatured 4970 versus 5005 previously
the bilateral agreement covering payments due to have been made by may 31 this year follows the paris clubs january decision to grant gabon an extended repayment period for its government to government debt
asked by to clarify his statement on monday in which he said the pact should be allowed to lapse subroto said indonesia was ready to back extension of the ita
the sixth is in canada
shr 21 cts vs 28 cts net 1456000 vs 1925000 sales 2587 mln vs 2902 mln nine mths shr 77 cts vs 110 dlrs net 5384000 vs 7658000 sales 8043 mln vs 7601 mln
singapore which is the first port warehouse outside europe to be used as an lme delivery point will be used for high grade metal only and the rent imposed by owners steinweg will be 105 us dlr a tonne per week the lme said
the market is sticking to its recent prediction of total barley and wheat exports of around 105 mln tonnes a new record and nearly double the previous record of 59 mln tonnes achieved in the 1984 85 season
there will be a facility fee of 3 16 pct
tran charged that the trade measures contravened a political commitment to halt and reverse trade barriers pledged by ministers in punta del este last september
cocoa consumers narrow gap on buffer stock issue
while bra kanon is due to return home this week for funeral ceremonies for a sister of ivorian president felix houphouet boigny scheduled to be held in the countrys capital yamoussoukro between march 19 22 senior ivorian delegates will be present throughout the london talks the official said
figures for the coming temporao might be distorted upwards by the inclusion of undeclared current main crop beans
todays injection of liquidity shows that the bundesbank does not want a further strong rise in the tender allocation rate which is likely to turn out at between 380 and 390 pct little changed from the 385 pct on the last facility
earlier today london traders had declined to give a projected view on the level of subsidy although some said total tonnage awards would be around 60000 tonnes
in paris on february 22 britain canada france japan the us and west germany agreed to cooperate to hold currencies around their then current levels
usair and twa had no immediate comment
any final decision on easing the quota must be made by the reagan administrations interagency sugar policy group
shr profit three cts vs loss 10 cts net profit 765000 vs loss 2600000 revs 9259000 vs 14479000 six mths shr profit three cts vs loss 11 cts net profit 875000 vs loss 2303000 revs 177 mln vs 292 mln note campbell changing its yr end to dec 31 from june 30
a large trade show in conjunction with the congress will feature the latest in technology in all areas of the industry the nppc added
talks aimed at renegotiating ico export quotas after five years of price supporting agreements broke down in february
they said chryslers cost of acquisition was valued at 782 mln dlrs paid in cash notes and chrysler shares
statistics canada said final domestic demand rose 06 pct in the final three months of the year after a 10 pct gain in the third quarter
shr 99 cts vs 77 cts net 127 mln vs 9736000 avg shrs 128 mln vs 127 mln nine mths shr 267 dlrs vs 230 dlrs net 340 mln vs 291 mln note net includes pretax securities gains 16000 dlrs vs 228000 dlrs in quarter and 48000 dlrs vs 1673000 dlrs in nine mths
south africa corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 120 120 187 187 production 850 950 808 808 imports nil nil 001 001 domes use 610 620 600 600 exports 210 300 275 275 end stocks 150 150 120 120 ec 12 corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 517 528 289 289 production 2500 2503 2570 2578 imports 1069 1061 1282 1282 domes use 2820 2900 2946 2960 exports 791 794 678 661 end stocks 475 398 517 528 argentina corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 052 039 039 039 production 1000 1100 1210 1210 imports nil nil nil nil domes use 460 460 460 460 exports 570 650 737 750 end stocks 022 029 052 039 thailand corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 043 033 011 011 production 410 410 535 515 imports nil nil nil nil domestic use 155 135 135 125 exports 280 300 367 367 end stocks 018 008 043 033 japan corn in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 124 124 106 106 production nil nil nil nil imports 1550 1544 1455 1455 domes use 1551 1545 1437 1437 exports nil nil nil nil end stocks 124 124 124 124
the ceylon workers congress cwc said its 400000 members launched a prayer campaign at temples and other places in a non violent protest to get the authorities to expedite citizenship procedures
funaro said us officials understand his position but they dont like it later he left washington for a tour of europe and debt discussions with officials in britain west germany france switzerland and italy
ibm is still the ruling force in mainframe systems software said scott smith an analyst with donaldson lufkin and jenrette
period ended february 28
mathew rinaldo the senior subcommittee republican said he was introducing legislation to create a five member commission to study the securities industry for a year and report its findings and recommendations to congress
the industry has argued for the maintenance of existing quotas which cover almost 70 pct of all output saying almost all steelmakers are losing money due to the depressed market
kuwaiti daily says opec credibility at stake
the nics have made deep inroads into markets for textiles and electronic goods
it is a package of trade sanctions and measures to force the administration take tough action against foreign trade barriers and unfair competition
merrill lynch uk executive charged by sec
there was speculation today that harold simmons the dallas investor might try to acquire hughes but simmons told he is not interested
another industry powerhouse wr grace gra has divested its retailing restaurant and fertilizer businesses to raise cash for chemical acquisitions
a central illinois processor is only making about 30 cents for every bushel of soybeans crushed at current prices down sharply from levels just seen just a few weeks ago and below the average cost of production cash dealers said
another regular poll is due tomorrow and eonomists warn that todays improved sentiment could be dented if support for prime minister margaret thatcher slips again
shipping sources said however that these claims could soar if a court found there was negligence or design faults involved
larkin co inc and hays securities corp said an initial public offering of 865000 common shares of mesa airlines inc is underway at 750 dlrs per share
general partners holds 98 pct of gencorp stock and there was some concern about greenmail greenmail is the payment at a premium for an unwanted shareholders stock
but speaking of the pact tender rate next week schlesinger said since the central bank council gives its opinion on this theme only every 14 days this is hardly probable euromark rates scarcely responded to the central bankers comments with six months funds ending unaltered at around 3 7 8 pct
investor firms have 255 pct of symbion symb 
trelleborg then said it had no plans for consolidating boliden
bouygues closed on the paris stock market at 1451 francs on friday up from 1405 the previous day but well below its years high of 1475
may department stores co said it terminated an agreement with allied stores corp to buy from allied the four dey brothers stores in syracuse ny may and allied said conditions necessary for the closing were not met
weve heard news every now and then of violations but they were not at all verified he said
giorgios annual revnues are more than 100 mln dlrs avon said
scotts liquid gold inc year oper net
piedmonts largest shareholder and other suitor norfolk southern corp nsc has offered 65 dlrs per share for the company
computer technology cmnt networking device
weekly foreign exchange auctions began in october 1985
bank of ireland also said it has appointed bzw as sole dealer on a separate 100 mln stg certificate of deposit program
it also said it bought debentures on feb 23 that could be converted into 94254 shares
the government last week said the us economy grew at a modest 11 pct annual rate during the fourth quarter
most buyers said the pay back period of a property its geographic location and the lifting cost of the crude oil are more important factors in evaluating potential acquisitions than relying on a simple price per barrel formula
the issue will absorb about 230 mln dlrs of the 2609 mln standing in the asset revaluation reserve it said
it gave no further details
mai plc the financial services and advertising group has asked sg warburg and co ltd to arrange a 100 mln dlr multiple option facility which will restructure a part of the companys exisiting banking arrangements banking sources said
tomorrows topics include savings and investment issues such as consumer credit and housing and the implications of government budget deficits
once the sale is completed the units name will change to first american bank of texas
in december industrial production fell by 28 pct from november while rising 29 pct compared with december 1985
it would be foolish not to be a player there he said
in a press release rep
lynch corp lgl unit buys television station
ibc expected to maintain coffee export formula
moving reluctantly into line with most private sector forecasts the government yesterday raised its 1987 inflation estimate a half percentage point to 25 per cent and cut its economic growth estimate to between two and 28 per cent from a 28 per cent target written into the annual budget last september
columbia gas said the impact of the ferc decision may be offset by a one time accounting change rleated to future tax liabilities under the new federal tax laws
from ges point of view the package looks like a good deal for several reasons heymann said
it said year to date total major appliance shipments rose 114 pct to 76 mln from 68 mln a year earlier
the offering was seen by the banking industry as one of the major deterrents to first interstate bancorps i take over bid which it withdrew on february 9
us first time jobless claims fell in week
the company said privately held watson laboratories inc owner of the other 50 pct of gynex laboratories has temporarily suspended production of the products and an inspection of the packaging operation is currently underway
de mel said the disease was detected in nurseries as early as in middle 1985 but it was only in august september 1986 that it became widespread
the diplomat said domestic demand was rising by about five pct a year but a communist government is in a much better position to regulate demand than a capitalist one if the foreign exchange situation demands it
oil cargoes are often resold by trades after loading making it difficult for shipowners to know their ships final port at the start of a voyage
french wheat exports to ec fall
it said 90 billion pesetas was provided at the second window
geodome resources ltd said following receipt of a feasibility study from raytheon cos stearns catalytic unit it will proceed with construction and pre production stripping at its sunbeam mine in custer county idaho as quickly as possible
subroto sees oil market continuing bullish
dealers said recent securities repurchase pacts had shown the bundesbank clearly wanted call money rates stable at 380
the average price was a record 127100 dlrs surpassing the previous record 119100 price set in december
in the case of notes issued by us borrowers the lock up period is the 90 days after the completion of a series during which time a security cannot be sold back to the us or to us investors
but in fact the dollar has been relatively stable since the pact
for income gdp the year on year rise was 26 pct against against three pct a year earlier
analysts said they expect the airline to show net earnings of between 11 billion and 125 billion dlrs when it reports results tomorrow for its first year as a public company
we will not negotiate new quotas or accept new quotas on beef and citrus if they impose them we would consider that an illegal action in the gatt lyng said
far west industries inc raises dividend
also warnings have been posted for large waves and beach erosion along the shores of the lakes
questioned by journalists the minister said president felix houphouet boigny estimated for the moment that his government would not be forced to reduce the price guaranteed by the state to ivorian coffee growers for the current season
gov
ah belo corp blc 3rd qtr net
results restated for discontinued operations
citibank lowers australian prime rate to 16 pct
the base rate reductions came after the bank of england cut its dealing rates this morning in a signal to the money markets that it would not resist a half percentage point drop in bank base lending rates market sources said
brazil supplied 1263 tonnes in january down from 7411 in december and 27088 in january 1986
fadhil al chalabi opec deputy secretary general also addressing the seminar added that discipline was still needed to prevent violent fluctuations in the oil market
analysts however said supermarkets general is facing problems due to its purity supreme and rickels operations which might make it difficult to thwart a bid
becor western bcw again adjourns holder meeting
fisher foods inc fhr said 5300 richmond road corp its largest shareholder has not yet reached a definitive decision about whether it will buy more fisher stock through a possible merger tender offer or another acquisition proposal
dutch animal feed usage in the first half of the current season from july through december 1986 fell 76 pct to 65 mln tonnes from 71 mln in the same period of 1985 figures in the latest newsletter from the co operative cebeco handelsraad show
far west industries inc year net
lead underwriter for the offerings both of 75 mln dlrs is merrill lynch capital markets
icahn earlier this year abandoned plans to buy usx corp x and still retains 11 pct of that companys stock
the newly acquired salem operation has management responsibility for about 2500 beds in 28 nursing homes in seven states
morgan shares firmed two pence to 318p at 0905 gmt from 316p at fridays close
paul boltz of t
they said the maximum rebate of 45678 european currency units ecus per 100 kilos was 087 ecus below what producers claim is needed to obtain the equivalent price to that offered for sales into intervention
the board also declared a regular quarterly cash dividend of 125 cts payable april one to holders of record march 16
normal work resumes at new zealand ports
cold and wet weather in northern western and central parts of europe continued to slow beet growth but plant density is reported to be good in most countries sugar statistician fo licht said
net profits for year ended december 31 1986 13 billion lire vs 473 billion deposits from clients 36910 billion lire vs 34190 billion loans to clients 24480 billion lire vs 21815 billion note the bank sold by bankamerica corp bkn last december to west germanys deutsche bank ag dbkgf said the sharp fall in net profit reflected various factors including higher set asides for risk coverage and a high tax burden
it gave no reason
asked on nbcs today program if the united states was prepared for a major war with iran weinberger said well we are prepared i think for whatever eventualities emerge from this situation but we dont look on it as a war
japan bought 5000 tonnes canadian rapeseed overnight at an undisclosed price for may shipment trade sources said
but he believes the firm will digest the nippon investment first
southold savings bank sdsbo 3rd qtr net
they said they expect gasoline stocks to fall three mln barrels or less and heating oil inventories to drop between 13 and four mln barrels
mts acquisition corp said it will need about 907 mln dlrs to acquire the 31781461 caesars world inc shares not owned by its owner martin t
trico industries inc said it set march 31 as the date for a special shareholders meeting for a vote on the proposed acquisition of the company by paccar inc pcar in january the two companies announced an agreement covering a proposed acquisition by paccar of tricos approximately 82 mln shares outstanding for eight dlrs per share in cash
shr 31 cts vs 26 cts net 3308000 vs 1512000 revs 6467000 vs 2590000 avg shrs 107 mln vs 5788594 nine mths shr 132 dlrs vs 117 dlrs net 102 mln vs 3041000 revs 187 mln vs 5682000 avg shrs 107 mln vs 3780626
geodome sets idaho gold silver mine construction
uk money rates harden on lawson currency targets
refined copper stocks held by refineries outside the us increased to a preliminary 277500 short tons at the end of december from a preliminary 270000 short tons revised higher at the end of november the american bureau of metal statistics said
we already have an agreement which may need only a slight review lukman said
the group paid 31 cents a share and 1331 mln dlrs in all for that year
i think these changes will strengthen the presidents hand politically and the stronger he is politically the better off we are with the congress and the better off we are in international fora said the official an administration economic policymaker
the conditions are the same as those on the most recent public authority loan stock issue for the state road building fund fonds des routes
but such overproduction was compensated for by a sharp fall in saudi arabian output together with irans inability to export as much as its quota allows
there will be a 125 basis point commitment fee on the revolving credit
under the plan expected to be announced this month the standard or bottom price of castrated wagyu known as marbled beef will be set at 1370 yen per kilo for 1987 88 against 1400 now and the ceiling at 1780 yen against 1820
he said that the majority of french business leaders were enthusiastic about the abolition of barriers and saw it as an opportunity rather than a danger for their companies
us exporters will have the opportunity to sell an additional 300000 tonnes of us durum wheat to algeria under the export enhancement program eep the us agriculture department said
we are going to go on but at 16 18 dlrs there will be no massive upturn he said
the eia said residual fuel stocks fell 100000 barrels to 381 mln barrels and crude oil stocks in the strategic petroleum reserve spr rose 11 mln barrels to 5200 mln
world group pretax profit rose to 321 billion marks in 1986 from 316 billion in 1985 with sales falling to 3801 billion from 4272 billion
the plant was upgraded to a capacity of 530000 bpd during the year enabling it to supply 50 pct of local demand for oil products the report said
according to terms cti holders and employees will receive 200000 shares of rabbit stock and royalties on sales of cti products
customer activity has been light but all on the buy side and there is a marked absence of selling they said in a weekly report
treasurys baker backs house panels fslic bill
japan business leaders say g 7 accord is worrying
investors mainly institutions were attracted to the early issues because of the high interest rates
quantech said it has received waivers from marine midland banks inc mm through may 26 on covenants in its loan agreement
float related as ofs were a negative 400 mln dlrs on wenesday due to a number of unrelated cash letter error corrections in five districts
shr 72 cts vs 58 cts net 4791000 vs 3803000 sales 830 mln vs 720 mln avg shrs 6668309 vs 6545722 1st half shr 88 cts vs 70 cts net 5872000 vs 4614000 sales 1416 mln vs 1218 mln avg shrs 6669488 vs 6525051
the dollar could well come under renewed pressure after the international forums as attention returned to the us and the uk s trade dispute with japan dealers said
the japan export import bank will cut its rates on loans to asahan and albras to about five pct from about seven pct the official said
qtly div 41 1 2 cts vs 41 1 2 cts prior pay april 25 record march 31 note full name bankers trust new york corp
another analyst richard cohen at brown baldwin nisker ltd noted that a lot of foreign investors are holding us dollars
shulansky
chemical new york corp 1st qtr shr 158 dlrs vs 193 dlrs
net includes tax credits 5738000 dlrs vs 494000 dlrs in quarter and credit 4194000 dlrs vs provision 112 mln dlrs in nine mths
sun sun to acquire more of wyoming field
several of those ministers criticised the ec for what they saw as restrictive agricultural trade practices and called for urgent reforms
if i were a bank im not sure i would have gone into broking whats going to happen when a lot of these golden handcuffs come to an end rivkin said
the group said its most recent purchases included 241000 shares bought between january 21 and march 10
each right when exercisable will entitle the holder to purchase one one hundredth share of series c junior participating preferred stock for 50 dlrs
taft tfb rejects 145 dlr shr offer
kidder peabody and co inc has been retained to advise on the alternatives harper and row added
montedison also said it named renato picco managing director of eridania spa and gianfranco ceroni managing director of italiana olii e sifi both of whom are members of the the ferruzzi groups management board to argimonts board of directors
the federal reserve is unlikely to operate in the us government securities market during its usual intervention period this morning economists said
westpac banking corp in new zealand said it will increase its indicator lending rate by 15 percentage points to 225 pct from april 7
but in the short term given the failure of the g 7 and of central bank intervention some feel that the fed will have no choice but to tighten credit to restore faith in the dollar
however commission sources said the real cost was small if account is taken of the expense of keeping food in store until its quality and value deteriorates
there were no reports of any deaths
vernitron corp said it has set a new record date of july 10 for shareholders entitled to vote on the proposed merger of vernitron with sb holding corp the original record date was may 26
we are asking our shareholders to postpone any decision on whether to accept or reject the offer until the board finishes its evaluation reynolds said in a statement
uk money market shortage forecast revised down
first kansas city analyst jonathan braatz said that block will benefit greatly from lower tax rates in fiscal 1988
minister luis diego escalante who serves as president of the costa rican coffee institute said he was hopeful because of the support offered costa rica and other smaller producing nations by such major consumers as the united states britain and the netherlands at last weeks ico meeting in london
he said rains some six weeks ago helped the crop but more recent rains reduced prospects slightly
opec members denials that they are producing over their quotas sparked moves to cover short postitions
they will be strong buyers of uk assets notably equities once the election is out of the way bell said
about 2000 sugar cane planters marched to port au prince to protest against the closure of haitis largest sugar mill and second biggest employer
dome mines shares traded earlier at 15 1 4 dlrs off 1 4 on the toronto stock exchange
bulgaria czechoslovakia poland and romania all took substantially more cuban sugar
lme warehouse stocks are now near a two year low at 28065 tonnes having fallen steadily from a record high of 72485 tonnes reached in february 1986
ongpin also said the government would pursue efforts to obtain 500 mln dlrs in concessional funding for the program from a world bank led consultative group of multilateral and bilateral aid donors
ricart currently the dominican republics ambassador to austria the netherlands and the un in geneva said he will visit the four major exporters australia brazil cuba and the european community to talk to governments and producers and find out about problems that are preventing these countries finding common ground for a new sugar pact
other republicans on the panel questioned how the bill would determine if a person was actively engaged in farming and therefore eligible for payments
taiwan foreign exchange reserves hit record high
published reports have stated it could be worth as much as 500 mln dlrs
but industry sources said that shutdowns may have been rearranged to avoid running negative netback crude
bank of ireland launches us paper program
a foreign banker said high reserve requirements which now account for about 30 pct of deposits placed spanish banks at a disadvantage with european competitors
in his march annoucement reagan said i am committed to full enforcement of our trade agreements designed to provide american industry with free and fair trade opportunities he added the tariffs would be lifted once japan honored the pact it signed last year to end dumping semiconductors in world markets and opened its home market to us products
aileen inc aee 1sr qtr jan 31 loss
south koreas trade surplus with the us rose to 71 billion dlrs last year from 43 billion in 1985
food store sales increased 04 pct after declining by 10 pct in january while grocery store sales increased 03 pct in february after falling 06 pct in january
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 525 mln stg while bankers balnces below target will take out around 175 mln stg
commitments to new argentine loan reach 91 pct close to critical mass citibank says
physicians insurance co pico 4th qtr net
bethlehem steel bs sets plate price increases
istat said exports totaled 23190 billion lire in the fourth quarter down 41 pct from the comparable 1985 quarter and down 67 pct from the third quarter in 1986
they made the comment to reporters after news that gnp rose 08 pct in the october december quarter after a 07 pct increase the previous three months
the us commodity credit corporation ccc has authorized an additional 100 mln dlrs in credit guarantees to cover sales of us vegetable oils to north yemen the us agriculture department said
standard and poors corp said it raised to a from bbb plus the preferred stock of mdu resources group inc
throughout the talks producers had adamantly resisted a consumer proposal to lower the floor price of 150 cents if the buffer stock currently 360000 tonnes rose to 450000 tonnes
advanced telecommunications atel in redemption
he said capital flows will be required to support the needed reforms in the economic systems of those countries
paul minn
banking sources noted that brazils monthly surplus had declined to some 150 mln dlrs in the final three months of last year against a monthly one billion in the first nine months
the wall street journal said the stocks of owens illinois inc oi and inco ltd n will be dropped as components of the 30 stock dow jones industrial aveage effective with the start of trading on the new york stock exchange tomorrow
the issue pays four pct and is priced at par
1985 4th qtr and yr net include net gain of 159 mln dlrs or 586 dlrs per share on exchange of common of pan america banks inc for common of ncnb corp purusant to a merger of the companies
the government of bermuda is seeking a 40 mln dlr seven year revolving credit which will be the only credit outstanding in its own name nm rothschild and sons ltd said as arranger and agent
february price rises were mostly in housing health education entertainment and transport
us willing to talk to moscow on wheat price
the us has said it will impose 300 mln dlrs of tariffs on imports of japanese electronics goods on april 17 in retaliation for japans alleged failure to stick to a pact not to sell semiconductors on world markets at below cost
the international swap dealers association has developed the first standard form contract for use by arrangers of currency and interest rate swap transactions said thomas jasper the associations co chairman
shr loss 44 cts vs profit 113 dlrs net loss 1544000 vs profit 3912000 note cash flow 1010000 dlrs or 29 cts shr vs 2835000 dlrs or 82 cts shr
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
world bank vice president praises argentine plans
levon resources reports improved gold assays
bank of japan officials said they hope japanese commercial banks will help nigeria overcome its debt problems
new rubber pact to be formally adopted tomorrow
it suspended interest payments in january on 54 billion dlrs owed to about 400 private foreign banks
the bank holding company said the action affects 401 mln dlrs of loans to brazil and 73 mln of loans to ecuador
but he did not elaborate or name any countries
daewoo unit raises 45 mln dlr loan
according to multifoods the actions proposed by bregman partners would prevent shareholders from realizing the full benefits of the companys restructuring
the only guarantees recognised are those given by us and uk governments or in the us by domestic national government agencies the proposals showed
he said an increased depletion allowance to 275 pct on new and enhanced production of oil and natural gas would be a cheap way to spur domestic production
another hole is being drilled 460 feet to the west of the first drill hole and results are expected in late march or early april
reagan imposed the sanctions on april 17 in retaliation for japans failure to honor commitments to end dumping semiconductors in world markets at less than production costs and to open its own market to us goods
herb mee jr president of beard oil co bec which holds a 304 pct stake in uspci said last week union pacifics offer was grossly inadequate
shr 30 cts vs 12 cts net 727000 vs 266000 revs 278 mln vs 211 mln nine mths shr 59 cts vs 48 cts net 1355000 vs 1098000 revs 694 mln vs 591 mln
security pacific spc downgraded by moodys
chemfix technologies cfix 2nd qtr feb 28 net
the feds quarterly review of foreign exchange operations said that the us bought 50 mln dlrs through the sale of yen on january 28
and we hope to see changes occur in the near future visiting chairman of general motors roger smith said in march
shareholders at the meeting approved a change in the companys structure to a holding company format to be effective april 1
imperial bancorp said it declared a five pct stock dividend payable may 29 to shareholders of record april 17
he said imports fell last year to 30618 billion francs from 33041 in 1985 while exports were also lower at 30666 billion francs against 31637 billion
earlier this week the lme declared that a 9970 pct minimum purity aluminium contract would commence trading on june 1 1987 alongside its long established sterling based 9950 pct contract
someones betting this company will go for 170 dlrs per share said one arbitrager
he said argentina was seeking 215 billion dlrs credit to meet the targets adding that the banks attitude had improved following brazils decision
americus trust hpu extends deadline
comdata network inc said it has entered into a definitive agreement to merge into a company formed by welsh carson anderson and stowe iv for either 1650 dlrs in cash or 1000 dlrs in cash and a unit of securities per comdata share
he said the isda had been working on a code of conduct for swap dealers as part of its self regulatory effort
the notes would bear 8 pct yearly interest mature march 31 2002 and be convertible to common shares on either march 31 1997 or the business day before a fixed redemption date at 1350 dlrs a share enfield said
the new body would not aim at negotiating measures to stabilise depressed world prices
german january industrial output fell 30 pct after a decline of 09 pct in december
assets of money market mutual funds rose 7204 mln dlrs in latest week
the exercise period for the b series is from august 8 1987 to may 5 1991
france sets seven billion franc t bill tender
the minneapolis based company which it said is the nations largest franchisee of chi chis family style mexican restaurants said it had the planned to expand to 80 units but had to abandon the effort leaving 38 units in operation
at least one analyst friday speculated the company might fetch 38 to 42 dlrs per share
it said it will seek to increase the present reserves of eight mln short tons grading 0045 ounce of gold per ton that had been found by usx corp x on a small portion of the 13 000 acre property determine the location of possible high grade ore zones at depth and test other targets
kyodo quoted nakasone as telling reporters after meeting the envoy i entirely accept what ambassador matsunaga recommended nakasone did not elaborate
pittston said it agreed to exchange 0523 common share for each of the about 8612000 wtc common shares outstanding
bundesbank seen steering steady monetary course
among the benefits for the public will be increased competition in the commercial paper market and more convenient service for borrowers and investors the fed said
arvin arv ses flat 1st qtr results
weve got a fairly good chance of a prime rate rise in the near future said allan leslie of discount corp
hambros bank ltd was lead manager for the four year deal which pays 14 1 4 pct and was priced at 101 pct
the copper mine and smelter produced 72000 tons of copper anodes in 1986
the company said it now has over 100 personal retailers marketing its products and expects to have more than 1000 by the end of 1987
duff scott told the toronto star
although each industrys competitiveness affects the level of imports and exports in that industry in general we find that there have been no significant industry specific changes affecting competitiveness that would explain the increase in the overall trade deficit the study said
martinez cuenca told reporters central america alone had lost some 700 mln dlrs through the weakness of world coffee prices partially caused by lack of an ico quota agreement
blue arrow to acquire richards consultants
avon products inc 3rd qtr net
debentures will be selected for redemption on a pro rata basis ford said
the bank of japan will sell 800 billion yen in deficit financing bills today through 51 day repurchase agreements maturing june 3 to help absorb a projected money market surplus money traders said
nationair said it plans to begin service between montreals mirabel airport and brussels three times a week for an unrestricted one way fare of 299 canadian dollars
shr 50 cts vs 66 cts net 150 mln vs 200 mln revs 8612 mln vs 7259 mln year shr 155 dlrs vsd 190 dlrs net 465 mln vs 570 mln revs 253 billion vs 225 billion note 1986 had 53 weeks vs 52 weeks in 1985
he said comparable store sales in february increased 36 pct
they said the agreement until now did not appear to have encouraged excessive production of rubber
another small drop in already low interest rates could not be expected to cause any significant rise in purchases of consumer or capital goods it said
weve not had trade like this since last years boom around the may elections said wim moret of banque paribas
a spokesman at strike headquarters for the seamen in rio de janeiro said unions were studying an offer by private shipowners for a 120 pct pay rise
asian development bank to open indonesia office
brent walker shares firmed sharply on the announcement to 385p from 353p at fridays close while lonrho also firmed to 275p from 2655p
trace products trceo merger agreement suspended
bangemann said the government agreeing with the majority sees no reason for the extraordinarily pessimistic estimate for exports expressed by the minority he said there was reason to believe that export demand would start to rise in the course of the year partly because of a further increase in world trade
gale force winds buffet great lakes
ec sugar tender seen marking no change in policy
but he said that any response would be in accordance with international law and japans international obligations
the assets acquired will be used to form a new divisional office serving the northwest the nursing home operator said
the home depot inc hd 4th qtr feb one net
us says no signal being sent by ship movements
the payment date is april 3
an 18 member contact group will meet at midday to examine new ideas and the full council is to convene at 1900gmt they said
sceptre resources ltd srl year net
new crop wheat plantings are expected to decline parana accounts for about 60 pct of total production
turkey to import 100000 tonnes of crystal sugar
it said it is looking at a number of financial options for increasing shareholder value but did not elaborate
china forecasts 397 mln tonnes grain harvest
minnetonka corp minlo 3rd qtr net
icn pharmaceutical inc icn 1st qtr feb 28 net
federal resources corp said it has acquired the capital stock and related real estate assets of new generation inc a regional consumer electronics specialty retailer
this remark caused the dollar to drop as it appeared to conflict with a recent agreement in paris by the united states and five other industrial nations that currency rates were at about the right level to reflect underlying economic conditions
bolivias top union leader today joined a hunger strike by 1300 state employed miners and workers to press for higher wages he said
fleet comptroller irv goss said it is estimated that the transaction will result in minimal dilution in fleet norstar earnings per share
weve been fiddling around with these problems for five years and the hour is growing late he said up to now the banks have reduced their spreads cut interest rates internally and extended maturities and none of these measures has been enough
brazil has bought 75000 tonnes of french wheat at tender a brazilian wheat board spokesman said
it said valor has arranged financing through an issue of ordinary and convertible preference shares underwritten by hoare govette ltd and barclays de zoete wedd ltd
shr 17 cts vs 13 cts net 673000 vs 514000 revs 184 mln vs 172 mln note share adjusted for five for four stock split in january 1987
as the bonds will not be publicly offered first boston declined to give their price and yield
analysts say ussr may prefer new crop us wheat
the rebate was set at 153 european currency units per tonne for march and 133 for april through july
us officials said they are encouraged by the outcome in a similar case covering european pasta imports
as a result of the offer some 45 pct of glaverbels capital or two mln shares will be listed on the brussels bourse
the securities will be listed in luxembourg and are available in denominations of 1000 and 10000 dlrs
dna said that when the transactions are approved by its shareholders it will issue additional shares of its common so that mize will own 80 pct of its issued and outstanding stock
telecoms shareholders are scheduled to vote on the 165 mln dlr transaction monday
but the new jersey board of public utilities recent rate action will not permit enhancement of key financial indicators
trees with leaves hit by the fungus disease cannot be saved and must be felled chee kheng hoy head of the crop protection and microbiology division in the rubber research institute of malaysia rrim told 
transnational industries inc said due to continuing manufacturing difficulties at its alloytek inc jet engine component subsidiary it expects to report a net loss of about 300000 dlrs or 12 cts per share for the fourth quarter ended january 31
the industry also faces transport problems due to zambia being landlocked
oil world said substantial losses of soviet winter grain area due to recent severe frosts were probably behind the recent pick up in soviet purchases of us corn
the reserve bank of india rbi announced new rules to allow exporters of 25 products to use foreign exchange up to 10 pct of their firms total annual export earnings for export promotion abroad
each unit consists of shares of common stock common stock purchase warrants and 1000 dlr principal amount of convertible subordinated debentures
it said penteco in turn has purchased one mln shares of reef common and taken options for the purchase of another two mln shares over the next 36 months
iroquois brands ltd said it has been sued by lyon food cos inc which is seeking 23 mln dlrs in damages in connection with the april 1986 nine mln dlrs purchase of iroquois former specialty food products segment
but there is really no need for such quotas
ec farm ministers ended their last meeting on june 18 still split over the commissions proposal for a tax on vegetable and marine oils and fats
in the us gulf sweet crudes rose in value by as much as 26 cts a barrel for west texas intermediate an increase of 14 pct from the previous friday while sour crudes such as alaska north slope were up one pct
qtly div 40 cts vs 40 cts pay april 10 record march 25
the spokesman also said texaco trading and transport inc would continue to acquire and market texaco lease production as well as other lease production
the views of the asean governments have been taken into account in determining disposal levels the statement said
shr loss 414 dlrs vs loss 19 cts net loss 371 mln vs loss 1712000 revs 273 mln vs 334 mln year shr loss 551 dlrs vs loss 73 cts net loss 493 mln vs loss 6544000 revs 1090 mln vs 1419 mln note 1986 net both periods includes 348 mln dlr weritedown of assets of services segment and southeast asian joint venture
bahia blanca 4 1 1 buenos aires 1 4 9 rosario 6 5 7 the tonnage of grain and oilseeds to be loaded onto ships loading awaiting berth and expected at each port was as follows
the pta set up in 1982 groups burnudi the comoros djibouti ethiopia kenya lesotho malawi mauritius rwanda somalia swaziland tanzania uganda zambia and zimbabwe
he said last night sudan was 26 billion dlrs in arrears on debt repayments in the first half of this year
the company said the results were in line with its targets for the second year of its three year recovery programme
the us shelved the nspa case earlier this year after trade representative clayton yeutter said argentina agreed to end the differential
hartford insurance group a unit of new york based itt corp said higher worldwide premiums help boost net income for the 1986 fourth quarter to 886 mln dlrs from net income of 367 mln dlrs for the 1985 quarter
also the swing line provides for use of a spot issuance procedure which allows the company to borrow up to the full amount of the 50 mln dlrs on two days notice
also excluded are reserves of 1400000 tons of low grade material that could be milled profitably at 425 dlrs a ton for gold
as a result gnp this year is likely to expand a modest 25 pct the same rate as last year according to daniel van dyke the bank of america economist who wrote the report
arkadi kuhlmann president and chief executive officer of deak international said the purchase will expand deaks operations in the precious metals and wholesale non ferrous metals trading arenas
direct investment recorded a turnaround to a 104 billion dlr inflow in the fourth quarter from a 57 mln withdrawal in the third quarter against a 546 mln inflow in the fourth quarter of 1985 the bureau said
denmarks seasonally adjusted unemployment rate fell to 78 pct of the workforce in february from 79 pct in january against 79 pct in february 1986 the national statistics office said
torchmark tmk sells sinking fund debentures
its declining debt to equity ratio of currently about 16 pct also made it likely that bat would soon be looking to make major acquisitions they said
shr loss 37 cts vs loss 13 cts net loss 45 mln vs loss 15 mln revs 633 mln vs 538 mln year shr loss 74 cts vs profit 187 dlr net loss 90 mln vs profit 230 mln revs 2395 mln vs 2443 mln note1986 net includes extraordinary gain of 106 mln dlrs from tax loss carryforward in year and loss of 198000 dlrs in 4th qtr
comalcos commonwealth aluminium corp unit said earlier it has conditionally agreed to sell its goldendale smelter in washington and port facilities at portland oregon to columbia aluminium corp
colombia has shown interest because they will gain from a compromise
shr primary 34 cts vs 17 cts shr diluted 33 cts vs 17 cts net 1487000 vs 686000 rev 198 mln vs 88 mln nine months shr primary 77 cts vs 43 cts shr diluted 75 cts vs 43 cts net 3240000 vs 1710 000 rev 422 mln vs 250 mln note companys full name is on line software international inc
as a result hundreds of institutions collapsed or were forced to merge
diceon said symtron management would continue running the business which would become a wholly owned subsidiary
canadas key bank rate rose to 720 pct from 715 pct the week before bank of canada said
terms of the bond conformed with those expected earlier today dealers said
cabot cbt calls notes for redemption
xuto said there is nothing concrete yet but the atmosphere is good the discussions are expected to continue late into the night and xuto said he may hold weekend meetings
the dilution of 17 cts per share for 1987 includes the effects of financing the acquisition
lvi group inc said it has agreed in principle to purchase all outstanding shares of spectrum holding corp for a proposed 13 mln dlrs in cash
courier corp said it expects to report a small loss for the second fiscal quarter against a profit of 828000 dlrs a year ago
at and t t 3rd qtr net
the stock market is the indication of the future gobert commented
from july 16 1990 aegon may at its option redeem early the bonds in whole or in part
icn said it bought the stake for 39 mln dlrs as an investment and has no plans to seek control of the company or to participate in the management of it
finnish inflation falls to 35 pct in february
morgan stanley and shearson lehman co managed the deal
they have granted pittston the right of first refusal to their shares
finance minister kiichi miyazawa told a parliamentary committee he expects major nations to reafffirm the currency pact they struck in paris when they meet this week in washington political sources said
keidanren chairman eishiro saito said the dollars fall below 150 yen would create huge unemployment and bankruptcies that could shake the foundation of the japanese economy
the issue for five ounces at 425 dlrs was priced at 955 swiss francs making a premium over the spot gold price of nearly 36 pct
listing is in luxembourg
us feb industrial production rose 05 pct after revised 01 pct jan gain
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
provided the recovery in oil prices was maintained the conditions would be right for a substantially improved performance this year
it said the sale and leaseback was attractive to the investors because they could take quicker advantage of tax benefits than the utility could
there is some hope among investors that there will some progress in the status hearing tomorrow on the patent infringement suit with kodak analyst michael ellmann of wertheim and co said
gatt round may stop growing trade problems us 
fortune said the agreement is subject to regulatory approval
in regards to safe drug use the delegates approved a plan asking that nppc be active in establishing a national safe drug use program
yeutter said if japan takes action to honor its agreement with the us on semiconductor trade then the retaliatory response will last a relatively short period yeutter said japan must stop dumping chips in third countries and buy more american computer chips
the us department of agriculture will probably decrease its estimate of the 1986 87 florida orange crop today to as low as 123 mln boxes from 129 mln boxes analysts and industry sources said
the wood products company also said it expects to release first quarter results later this month
tehran radio monitored by the bbc quoted a foreign ministry spokesman as saying any attempt at interference would be met by a strong response from iran and other moslems in the world us defence secretary caspar weinberger in remarks apparently unrelated to the broadcast said the us would do whatever was necessary to keep shipping lanes open in the face of new iranian anti ship missiles in the gulf
european markets react quietly to g 7 communique
the spokeswoman said there were reports of domestic supply problems in the united states
the bundesbank set a new tender for a 28 day securities repurchase agreement offering banks liquidity aid at a minimum bid rate of 350 pct a central bank spokesman said
closing is expected by may 15
a higher psbr target could be preferable in the long term he said although lower mortgage interest rates on the back of falling base rates would have an offsetting impact on inflation
we dont see it as a precursor of continued strength durable goods sales rose 88 pct in february after falling 177 pct in january
the bonds will be issued as follows
the deal will close after obtaining italian government approvals expected in late april
ph glatfelter co said it has reached an agreement to acquire all the capital stock of ecusta corp for 149177857 dlrs in cash
company spokesman dale coffin said the investigation could take from a few days to several weeks but would not be more specific
harcourt last week said it would pay 40 dlrs per share to stockholders as a special dividend
but the time may not be ripe he said
repayments were 240 mln dlrs after the previous 16 mln
net includes tax credits of 751000 dlrs vs 606000 dlrs in quarter and 1163000 dlrs vs 2289000 dlrs in year
synthetic industries offers debentures
recurrent profits of manufacturing industries are projected to rise 296 pct next fiscal year against an estimated 401 pct fall in the current year
fees comprise one pct selling concession with 1 2 pct management and underwriting combined
investors may be showing some signs of indigestion remarked one trader
existing 500 franc b tranche certificates would be split five for one
management science america inc clarifying statements made earlier today said its loss for the first quarter could exceed 20 cts a share because of non recurring expenses associated with the acquisition of several companies including comserv inc
sugar prices are forecast to rise to 340 dlrs a tonne next season from an estimated 270 dlrs this year they said
uk money market offered early assistance
international lpg prices steady in quiet market
michael seibel bank of america vice president and regional manager said the negotiations were proceeding well
it said dixons held about 83 pct of cyclops stock following a tender offer and other purchases earlier in the year
keating said the overall impact of the changed economic parameters is welcome as it appears to have contributed to a slightly more rapid correction in the current account deficit than first anticipated
belgium launches bonds with gold warrants
the united states wants taiwans currency to appreciate faster to reduce taiwans trade surplus with the us a senior trade official said
baker international corp said it has filed suit in state court in houston to compel hughes tool co to complete its proposed merger with baker
most of that surplus this year estimated at around 25 billion dlrs will be swallowed up by repayments on the nations estimated 23 billion dlr foreign debt in terms of an arrangement reached earlier this year with major international creditor banks
us envoy says manila will pay its debts
the aid will include 30000 tonnes of wheat and 1200 tonnes of vegetable oil for farmers in the wollo and illubabor regions
de clercq talking to journalists during the meeting said there is a certain nervousness a growing impatience within the community concerning trade relations with japan the ec is not satisfied with japans inability to cut its trade surplus and the commission has adopted a tough approach on imports of goods such as japanese photocopiers where it has imposed 20 pct anti dumping duties
the tender offer began on february six
a free trade pact backed by president reagan and prime minister brian mulroney would open new markets for canada and enable its industries to achieve economies of scale which would also help it widen exports worldwide he said
but they saw the us strike as a limited reply to iranian missile attacks with some describing it as responsible
the question is who would take it he added
winley home builders inc said it completed a land purchase agreement with mdc holdings inc mdc for 1090000 dlrs in notes and preferred stock
rugeroni added that alcan expects the international primary aluminum institute to report a drop in total non socialist stocks in february and march
it said it is evaluating the proposals and will not comment further unless a definitive agreement is reached
the government has predicted that inflation this year would be lower than in 1986 when it reached 209 pct
he said that now was the time for major nations to act under the paris accord
bean shippers were reluctant to offer nearby shipment and only limited sales were booked for march shipment at 1750 to 1780 dlrs per tonne to ports to be named
it said the debentures which are for settlement april 10 will be priced next tuesday and the offering will take place april 1
may ajusted sterling bank lending up 27 billion stg after 15 billion in april official
the company said it recorded income from continuing operations of 166 mln dlrs or 257 dlrs per share on sales of 440 mln dlrs in 1986
the system transfers crude and fuel oils from tankers to the refinerys tank farm and carries refined products to ships for export pri said
there has been some slight progress but it is not the end of the road yet he said
eastman kodak co said it plans to sell its 23 pct holding in icn pharmaceuticals icn and part of its nine pct holdings in viratek vira it said the purpose of the investments had been to lay the groundwork for the creation of its nucleic acid research institute
they have done it to some extent they need to do it more lawson said adding it was up to the banks themselves to determine the appropriate size of provisions
qtly div 17 cts vs 17 cts pay april 24 record april 7 note year ago adjusted to reflect march 19 three for two stock split
ball corp said it was awarded a one year 12750000 dlr contract to supply copper plated zinc penny blanks to the us mints in philadelphia and denver
redstone details sweetened viacom via offer
siemens ags siegf fully owned subsidiary siemens informations systems inc
hutton has begun a tender for 83 pct of purolator at 35 dlrs cash per share
this followed the imposition of penal lending rates of 11 3 4 pct on the discount houses yesterday and was the lowest since base rates were at 10 pct early last october
wwf statistics show half of the worlds tropical forests have vanished since the 1940s
thai traders plan to establish a company to regulate maize forward trading in what could be a first step towards a commodities futures exchange maize dealers said
the bank has thus given a total of 37 mln stg so far today which leaves the bulk of a 115 billion stg shortage still in the system
malaysias gold and foreign exchange reserves rose to 1607 billion ringgit in february from 1573 billion in january and 1223 billion in february 1986 bank negara malaysia said
ic gas makes no recommendation on tractebel offer
odetics inc oa ob 4th qtr march 31 net
he told the interamerican development bank iadb annual meeting here that peru will have to maintain its 10 pct limit on debt payments to preserve growth
about 371 mln dlrs was distributed to 160253 emplyees
the exercise period of the a warrants will be three years and of the b warrants five years
pharmacia forecasts higher 1987 earnings
the ecuadorean minister at the presidency patricio quevedo told reporters that venezuela will lend ecuador five mln barrels of crude which would repaid in kind after a 180 day period
yankee said the sale will result in a loss of 15 mln dlrs
1985 year includes only six months of operations due to change in fiscal year
it has retained first boston corp and kidder peabody and co as advisers
clark copy international corp said it bought a norwegian drafting machines company for three mln us dlrs
corby said it expects to benefit from mcguinnesss succesfull introduction of schnapps and coolers and its strength in traditional market sectors
the indexs first quarter average also was 539 pct translating into real gnp growth of about three pct if continued through 1987
the investor put option on may 7 1993 has been fixed at 133 1 2 pct to give the investor an annual yield to the put of 8 1 2 pct
in particular s and p expects that the industrial and banking sectors would have a less turbulent year than in 1986
fridays consumer price report for february is expected to show an increase of about 03 pct after a 07 pct january gain
william blair and co and mcdonald and co will manage the underwriting group baldwin said
skandinaviska enskilda issues yen bonds
commonwealth bank issues dual currency bond
english said wppss had no indication when the sec might meet on the staffs recommendations
treasury secretary james baker and office of management and budget chief james miller defended an administration plan to sell the us naval petroleum reserves
my feeling is that it february borrowed some of the business we normally see later in the quarter and the real strength of general merchandise sales will be in the second half of 1987 said bear stearns and co analyst monroe greenstein
analysts expect du plessis to provide for a rise in state spending at least equal to the 16 pct inflation rate for the financial year that started on april 1 while ignoring pleas from the private sector to stimulate growth by cutting taxes
shr 12 cts vs six cts net 398318 vs 211801 sales 7385107 vs 7275162 six mths shr 22 cts vs 13 cts net 736219 vs 446288 sales 143 mln vs 142 mln note per share earnings adjusted for ten pct stock dividend paid february 1987
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
duff and phelps upgrades philip morris mo 
brazilian soy rainfall
taco villa inc said it is holding talks with republicbank corp rpt to restructure its loan payments and waive some financial convenants on its debt
unadjusted male unemployment totalled 112 mln up 180000 from a year earlier
henderson said us food and drug administration approval to market statil and zoladex both under joint licensing agreements with merck and co inc mrk is not expected until about 1989
in a study on probable fields the report said that when the rates of return are examined the rise for a prt paying field such as miller the largest undeveloped oil field in the uk north sea is from 187 to 19 pct while the rise for a small non prt paying field such as kittiwake is 159 to 179 pct
society for savings said it will offer up to 100 mln dlrs of medium term notes with maturites of one to five years through goldman sachs and co and shearson lehman brothers inc
schmahl presenting the report at a news conference said none of the institutes reckons with a recession or with the beginning of a recession he added however that exports remained the weak point of the economy schmahl also said west germany would have to expect further encroachments of foreign goods onto its markets
shr 203 dlrs vs 153 dlrs net 1464 mln vs 1103 mln nine months shr loss 399 dlrs vs profit 462 dlrs net loss 2833 mln vs profit 3305 mln avg shrs 7108 mln vs 6926 mln assets 569 billion vs 507 billion deposits 304 billion vs 259 billion loans 263 billion vs 257 billion note nine month loss reflects 700 mln dlr increase in loan loss provisions
price pclb to buy 80 pct of tss seedman
analysts said the merger is virtually certain to go ahead
the purchases complete the export enhancement program initiative for china announced jan 26
tony lama co inc said it signed a letter of intent to buy coulson of texas inc a maker of heels and leather components
shr 70 cts vs 56 cts net 6197000 vs 4880000 revs 241 mln vs 171 mln nine mths shr 138 dlrs vs 120 dlrs net 121 mln vs 104 mln revs 525 mln vs 418 mln
amro bank nv announced a 150 mln guilder seven year dual currency bond issue with a 65 pct coupon on behalf of bp capital bv guaranteed by british petroleum co plc bpl subsidiary bp maatschappij nederland bv
the oil price in us dlrs is above the 1986 average and if sustained should improve energy earnings
wrightson estimates that about 20 pct of all us treasury trading is transacted outside the us with tokyo forming the third major centre
asked whether he foresaw a reduction this year of frances trade shortfall at 76 billion francs in the first 11 months of 1986 against 51 billion for the whole of 1985 murakhovsky told it all depends on france at a meeting in paris last january french and soviet foreign trade ministers said they were committed to increased efforts to reduce the deficit
shoneys inc shon 1st qtr feb 15 net
the placement of the german federal governments 256 pct stake in utility veba ag vebgf would probably take place early next week banking sources said
the coupon will then be re fixed annually at the one year australian treasury rate
du plessis said the new interim debt agreement was substantially a continuation of the arrangement ending in june and calls for south africa to continue paying all interest on its total foreign debt of 23 billion dlrs
no deadline was established for the renewal of the payment
federal reserve board chairman paul volcker said the suspension by brazil of its foreign debt payments would not undermine us banks
market forecasts had been for a worse outcome with expectations of a deficit in visible trade averaging about 750 mln stg against the official figure of 224 mln stg sharply narrower than januarys 527 mln deficit
tonights american petroleum institute oil inventory report is expected to show another drawdown in distillate stocks of between two and 75 mln barrels for the week ending march 20 oil analysts and traders said
the governments six and eight peso wage increases would displace up to 20000 workers monsod said bringing the number of unemployed to 42 mln or 192 pct of the population
noranda inc said 1100 unionized workers at its 63 pct owned brunswick mining and smelter corp lead zinc mine in new brunswick would start voting monday on a tentative contract pact
the company said the transaction would reduce cornings ownership in rigolleau to approximately 20 pct
the company said the sale is subject to review by local authorities
the foreign exchange rate has been set at 14640 yen to the dollar but details of the conversion price were not immediately available
next years apc held in atlanta will be a business session only and will continue to be the first week of march
but when poehl criticized stoltenbergs tax plans he was not only voicing what many bankers felt but demonstrating the bundesbanks independence of government chrobok said
general public utilities corp said the water clarity problem delaying the removal of fuel from the damaged unit two of the three mile island nuclear power plant appears to have been resolved
the increases range between three and nine cts per dry pound
the letter said the government had to step in to avert serious economic hardship and because the social services ministry had already used up its entire 1987 budget provision of 23 mln rupees by distributing help to the worst hit areas
top discount rate at uk bill tender falls to 91250 pct
the us is seeking the power to block loan votes with one other country and the issue will be discussed in miami later this month at the annual meeting of the latin development bank
turning to brazil and mexico ortner made it clear that it would be almost impossible for those countries to earn enough foreign exchange to pay the service on their debts
in addition he said that the us has an increased propensity to import in order to satisify consumer tastes
the investment in one of wall streets top brokerage houses is likely to pay off in dollars and international market position they said
lloyds bank canada became canadas largest foreign bank last autumn with its 200 mln canadian dlr acquisition of continental bank of canada
at the same time rules prohibiting corporations and non stock exchange members from holding more than 50 pct of australias 101 brokerage firms were abolished leaving brokers exposed to greater deregulation
these powers are currently held by president reagan
marcano said attempting to revise the rescheduling accord a second time would probably hurt venezuelas bid to restore it credit rating and raise new loans
american hoechst corp year net
in its world production and trade report the department attributed the decline to relatively poor profitability of sugar causing harvested area of cane and beets to decline seven pct from 1985 86
the employees remaining after that will operate the new plant it said
the japanese monetary officials said bakers undisguised pressure on west germany to refrain from guiding interest rates higher may be part of a process of multilateral surveillance or international economic policy coordination
christopher bond r mo countered during the hearing that such a grain export cartel is not workable
although the amount of money saved from moving away from the long bonds was not disclosed bond experts believe it was considerable because of the much lower interest premiums paid on short term debt
there was more demand and less on offer in the market one dealer told 
michael jackaman president and chief executive officer of hiram walker and allied vintners said the acquisition is an excellent one both commercially and financially
it said the costs including moving expenses severance pay and future lease payments
the administration is expanding its crackdown on bad debts officials of the white house office of management and budget omb told reporters
that i think was partly due to statements that have been made by senior figures on the other side of the atlantic it was a dispute that should never have happened he added
may department stores ma 4th qtr jan 31 net
primary metals orders were up 139 pct to 84 billion dlrs after a 20 pct decline in january the department said
laroche said he may obtain a short term loan of up to one mln dlrs from amoskeag bank to help finance the purchase of shares under the offer bearing interest of up to nine pct
the markets initial reaction to the data was restrained by fears the employment news would undermine the dollar but when the dollar maintained a firm tone the bond market extended its gains
the spokesman speaking from bonn said we have good reason to think west germany holds to its resistance to the proposed tax several top government officials told the american soybean association and the national soybean processors association delegations there was no reason for american producers and processors to pay for ec agriculture the spokesman said
he said south korea was selecting many of 122 items on which washington recently asked seoul to lower tariffs to help narrow its trade surplus with the us no further details were given
chamorro said nicaragua supports the establishment of export quotas in an effort to boost sagging world prices
the bulk of the inventory and more than half of the remaining proved reserves lies in the middle east which is producing at much less than current capacity he added
prior to that date the partnership said it expects to form a liquidating trust to provide for unresolved claims and liablities
british bauxite vessel grounded in orinoco river
tokai international ltd is other joint book runner
westinghouse interested in merger of radio unit
computer has been in reorganization proceedings under chapter 11 since september 1986
common shares not bought in the offer will be converted into the right to receive 6050 dlrs per share in cash the tender price
international technology itx makes acquisition
engelhard corp ec said its japanese joint venture nippon engelhard ltd is constructing a new chemical catalyst manufacturing facility at its numazu complex and expanding its research laboratories at ichikawa
its total output was around 260000 bpd
congress is weighing a trade bill to force the president to retaliate in certain cases of unfair trade practices
traders familiar with the opinion said that david eisenberg director of sanford c
final terms on the non callable bond will be fixed on march 12
turkish trade deficit widens in april
gross currency reserves rose in the week by 400 mln marks to 1099 billion
federated guaranty fdgco sets stock split
concerning dome petroleums 42 pct stake in encor energy corp ltd annesley said encor is a strategic investment for dome and we have no intention of selling it dome spokesman annesley said in answer to a question that he was not aware of any negotiations now under way toward the sale of dome petroleums 209 mln dome mines shares
us m 1 money supply rises 19 billion dlrs
brazil soybean yields seen average usda report
the counterpart of improving the trade deficit either through a lower dollar or because the us increases duties on japanese electronic goods may be to hit the capital inflow which has financed the budget deficit
most had expected the fed to supply reserves directly via system repurchase agreements or to add them indirectly through two billion dlrs or more of customer repurchase agreements
the public offer by glaverbel sa europes third biggest glassmaker of 755000 shares was more than 100 times oversubscribed a statement by banks and share dealers responsible for the issue said
alcan to close west german aluminium smelter
the issue which matures on may 7 1990 has a 14 1 2 pct coupon and is priced at 101 3 8 pct
toronto dominion banks 20 billion yen of 4 5 8 pct euroyen bonds due 1992
beesley also said that if congress takes action to reduce interest rates offered to farmers to below market levels the government should provide this interest rate relief
at the same time 48 pct of the congressmen surveyed opposed the fee with the respondents saying the tariff would hurt consumers and some regional interests
kurt viermetz worldwide treasurer of morgan guaranty trust co told arab currency traders meeting here that the steady depreciation of the dollar had not gone far enough to rein in us deficits on a lasting basis
sampl acquisition raises us 1987 toll to 12
german institute sees inflation rising in 1987
the grain output of a major chinese grain producing province is not increasing because farmers lack incentives production costs are rising storage facilities are poor and there is not enough state investment in grain the provinces vice governor said
the partners said if they succed in acquiring gencorp they intend to consummate sale of wor tv in new york to mca inc mca gencorp last year entered into an agreement to sell the station for 387 mln dlrs
canadian narrowly defined money supply m 1 fell 555 mln dlrs to 3242 billion dlrs in week ended march 18 bank of canada said
the finance minister made the remark at a news conference which followed a morning cabinet meeting
us sugar consumption has declined which has resulted in a progressive contraction of the sugar import quota to only one mln short tons this year he said
were not in this for the money he said
we have a fast track authority from your congress for approval or rejection of whatever the negotiators achieve clark said that as a practical matter an initial agreement must be reached by late september or early october
canadian lead limits are currently 11 times as high as the us limit but lead is scheduled for virtual elimination in canada by 1993 which should create a canadian demand for mtbe it said
the united states may lift an additional 84 mln dlrs in trade sanctions against japan later this month reagan administration officials said
swiss offers new series of money market paper
treasury secretary james baker said the united states was not seeking loan veto in its negotiation for voting power at the inter american development bank
argentina has pressed for this solution so far to no avail arguing that the smallest 120 of its 360 bank creditors account for just one pct of its foreign bank debt and that the next 120 banks account only for a further six pct
non opec egypt produced 403 mln tonnes about 295 mln barrels of crude in 1986 against 443 mln tonnes about 323 mln barrels in 1985 according to official figures released today by the egyptian general petroleum corp
the scale of foreign exchange intervention the bank of england has carried out recently is clear proof of britains determination to stabilise exchange rates as agreed between the group of seven industrialised countries in paris in february chancellor of the exchequer nigel lawson said
sri lankas central bank offered 250 mln rupees worth of three month treasury bills at its weekly tender closing on march 6 a bank spokesman said
the veba share has been weaker ahead of the placement but west german stocks have been generally bearish and news of the vw scandal last week put further pressure on the market
the bond was trading today at 104 3 8 104 7 8 against its par issue price traders said adding the equity link ensured popularity on an oversupplied eurosterling primary market
us banks to get approval for securities business
scottish and york holdings ltd year loss
national gypsum cos austin co said it signed a joint agreement with kawasaki heavy industries inc to join forces to win contracts in connection with the construction of kansai airport
inflation is expected to be 40 pct at the end of this year lawson said
hellman and president harvey newwman has been terminated by mutual consent and temco has no present intention of being acquired by any other party
july crude futures of west texas intermediate traded up to 1960 dlrs a barrel a rise of more than 20 cts
the group of 24 developing countries said in a communique that some kind of debt relief is necessary and called for a new attitude on the part of the banks
the cpa includes the worlds top three producers ivory coast brazil and ghana and accounts for 80 pct of all output
the package of proposed farm policy changes that the reagan administration sent to congress today includes a provision that would eliminate minimum price support levels for upland cotton rice and soybeans
the financing is being arranged by samuel montagu and co ltd and is being syndicated on a restricted basis among a group of the borrowers relationship banks
after settlement of intercompany transactions between the wilkinson sword groups and allegheny the net payment by swedish match will amount to about 160 mln dlrs
mercer said about seven companies are interested in buying celeron and they may form a consortium to buy the unit
preferred healthcare ltd phcc 4th qtr net
projected fiscal 1988 requirements are 213 billion dlrs
but agriculture minister kato has ruled out any emotional reaction and the senior ministry official said the farm issue should not become a scapegoat for trade pressure in the industrial sector
the commission said it would ask geneva based gatt to rule on whether the section in question which officials said had proved a barrier to many ec exporters conformed to its rules
by providing their share of the 155 billion dlrs in new money being raised for argentina via an easily tradable bearer bond instead of a participation in the syndicated loan smaller banks could avoid time consuming legal paperwork
shr 118 dlrs vs 87 cts net 1496 mln vs 1340 mln revs 110 billion vs 9564 mln nine mths shr 336 dlrs vs 242 dlrs net 4281 mln vs 3737 mln revs 313 billion vs 270 billion avg shrs 1273 mln vs 1545 mln note 1986 results include 25 mln dlr reduction of operating income for the relaunch of contac
harper said it will consider the proposal including such possible concerns as anti trust and other legal considerations
pacer systems said it has agreed in principle to acquire the assets of sea data corp a maker of low powered electronic systems including undersea intelligent recording sensors and high density digital data recorders for one mln dlrs
japans largest bank the dai ichi kangyo bank ltd is also considering expanding its business here bankers said
in treatment similar to that agreed in january for balance sheet assets the credit equivalent will be assigned one of five risk weights between zero and 100 pct depending on the quality of the counterparty the remaining maturity of the contract and on collaterals or guarantees to the contract the plans showed
in a key concession made at the urging of ways and means committee chairman dan rostenkowski d il the trade subcommittee backed off a requirement that would have forced reagan to impose automatically quotas or tariffs on imports from countries that engage in unfair trade practices
the proposal involved less than one third of the assets and liabilities of sears savings owned by sears roebuck and co s the fed said that it generally has determined there were potentially adverse effects of allowing affiliations of banks and savings and loan associations although it has allowed bank holding companies to acquire some failing thrifts
federal realty convertible increased priced
only parent holding company texaco inc and operating subsidiaries texaco capital inc and texaco capital nv are affected it said
i think someone else will probably come in or they mts will have to raise their bid said marvin roffman an analyst at janney montgomery scott inc
the corporation was shut down last april when congress refused to continue funding its eight billion dlr budget because of uneconomic projects based on forecasts of 50 dlrs a barrel oil and 10 dlr per mcf natural gas during this decade
britain initiated the discussion on the proposal to impose a hefty tax on domestic and imported oils and fats because it could seriously damage ec trade relations
the buyback doesnt really change the earnings outlook and puts more stress on the balance sheet he said since gm will have to borrow money to pay for the stock purchases
the paris club restructuring forms part of a 12 billion dlr financial package agreed with mexicos creditors last year
but they were isolated to just a small portion of the west texas area probably less than five pct mohler said
mesa limited partnership mlp sets payout
he said it was the aim of the partners to move as quickly as possible to eliminate uncertainty surrounding the stations
monsanto corps gd searle and co unit said it will report an operating loss for 1987 mainly due to expenses for research and development
he did not say how the 1987 88 budget shortfall would be covered
under the agreement the ec will import two mln tonnes of maize and 300000 tonnes of sorghum a year into spain at specially reduced levy rates for the next four years
its record low was 14840 in tokyo last tuesday
both companies left their butane prices unchanged at 123 dlrs a tonne
however he added there could well be a sharp fall in performance in the first quarter of 1987 due to the improbability that the group would be able to repeat the high refining and marketing margins of first quarter 1986
application will be made for listing on the amsterdam stock exchange
bra kanon is expected to meet with about eight delegations individually in attempt to iron out remaining problems
the us agriculture department estimated 1987 spring potato production based on april 1 conditions at 19267000 cwts 100 lbs vs 19822000 cwts indicated last year
ec export licences for 59000 tonnes white sugar at rebate 45678 ecus french traders
westinghouse says it expects at least 10 pct earnings shr growth through 89
media general mega ups dividend sets split
the four dealers for the program are anz securities asia barclays bank plc bt asia ltd and morgan guaranty ltd
stephen hanke chief economist at friedburg commodity management said opec production was lower because of the saudi cut to 31 mln bpd and this could spell trouble if it gives other members an incentive to exceed their quotas he added the saudis will be picking up the tab for other members who produce over their quota and the drain on the saudis will continue forcing them to cut output maybe as low as 25 mln bpd to support the 18 dlrs average price he added
the federal reserve bank of new york will act as the central processing site for reconstituting securities the treasury said
union said it paid about 90 mln dlrs on april 1 for the retraction using existing credit lines
geogia power also said its board has delayed the scheduled completion of vogtles unit two to june 1989 from september 1988
canrad said the acquisition is expected to increase its annual revenues by about 10 mln dlrs
uk money market given 90 mln stg early help
indias private businessmen say they have been placed on an unequal footing in raising money from the capital market because government companies are wooing investors by issuing more attractive tax free bonds
in this respect lawson said he hoped bonn would bring forward to january 1988 part of its agreed package of tax cuts scheduled for 1990
harper and row publishers inc said its board of directors decided to take no action on two takeover bids that the company has received
the contract is being funded by britains overseas development administration as part of a total grant of 7365 mln stg to indias state owned hindustan zinc ltd
don bonker chairman of the international economic policy subcommittee said the unnecessary restrictions had cost the us 17 billion dlrs in exports a year
continental is europes second largest tire producer
market participants will have 60 days to respond to the proposals
i would be extremely cautious to go either long or short at this point said jack ward president of the cocoa trading firm barretto peat
us august trade data showed the us deficit at a still massive 1568 billion dlrs
based on chart formations t bond futures may be poised for further gains although the advance has been slowed recently analysts said
unless the bank is directed otherwise the firm monetary policy will continue because it is very much in the national interest that it do so he said
comdata said the move is subject to execution of definitive agreement and approval by comdata shareholders as well as obtaining up to 200 mln dlrs in debt financing
such fees could total about 30 mln dlrs
marathon petroleum company a subsidiary of usx corp said it lowered posted prices for crude oil by 50 cts with an effective date of october 16
the european commission authorised the export of 33500 tonnes of irish intervention barley at todays tender for non european community destinations at 5310 ecus per tonne grain traders said
entex energy development ltd eed year loss
some 30 billion marks is likely to leave the market this month with the bulk being paid out next week
hyponex corp said it filed with the securities and exchange commission for a public offering of 100 mln dlrs of senior subordinated debentures due 1999 with an over allotment option of 15 mln dlrs
i think that thats exacerbated exaggerated this decline and i think its something that they must stop he said
funaro said brazil had the worlds third largest trade surplus and estimated the 1987 surplus would be at least eight billion dlrs
he said however that the us will ask for a definite liberalization of those items beef and citrus when you translate liberalization into japanese it means do away with the quota
housing group france hlm is launching a 750 mln french franc 840 pct 15 year bond with an issue price of 9536 pct and denominated in 5000 franc units lead manager banque paribas said
this would help overcome domestic shortages of yarn he said
terms were not disclosed
the uk government is in no hurry to issue more bonds suggesting further market improvement and continuing demand from brokers here said laurie milbank and co assistant manager machiko suzuki
louis dreyfus 5300 tonnes same corn april 20 may 15 at 7589 dlrs fob gulf
pace membership pmwi buys back notes
but the ministers from bahrain kuwait oman qatar saudi arabia and the united arab emirates uae did not endorse a resolution on a common currency exchange rate system
dealers wary over sterling intervention rumour
oppenheimer said it bought the stake in connection with risk arbitrage and other investment activities in the ordinary course of its business
boschwitz plans to introduce a 0 92 plan in the senate
a ministry statement had earlier announced indefinite suspension of crude oil exports declaring force majeure
the last series of three month paper issued in march raised 1473 mln francs at an issue price of 99142 pct giving an average annual yield of 3501 pct
clothestime inc ctme 4th qtr net
bank of montreal said it will reduce the interest rate it charges on outstanding mastercard balances to 183 pct from 21 pct beginning in july
the gao last week reached the tentative conclusion that the estimated three billion dlrs of certificates redeemed to date have cost the federal government between 150 mln and 600 mln dlrs or between five and 20 pct more than cash outlays one administration official said
reagan in imposing the curbs said they would be lifted as soon as there was evidence of a pattern that japan was adhering to the pact
accepted bids ranges from 570 pct to 574 pct and 14 pct of the bids at the high or stopout rate were taken
congressional aides who asked not to be identified said the lawmakers intend to wrap up their proposals tomorrow and will consider a proposal to mandate retaliation without setting specific trade penalties
banking sources say yugoslavias reserves are inadequate at present for even one months debt and import bill
the 750 mln dlr deficit was at the lower end of forecasts and analysts said the market would welcome any figure below one billion dlrs for march
yesterday uss said it plans to raise base prices on plate products by 20 dlrs a ton or about five pct effective with shipments october 4
although the worldwide economic situation remains unsettled there are some encouraging signs in our business akers said pointing to among other things higher first quarter shipments
light louisiana sweet crude is now 1935 dollars a barrel the company said
philippines sees 1987 government revenue up 26 pct
last year goodyear aerospace had revenues of 695 mln dlrs
asa ltd asa 1st qtr feb 28 net
the agency will also consider the possibility of future asset sales to reduce acquisition related debt
shr one ct vs nil net 9949000 vs 3799000 revs 155 mln vs 135 mln
combined fourth quarter pre tax profit 110 billion guilders vs 111 billion making 369 billion guilders vs 381 billion
for 1986 the company had net income of 63 mln dlrs or 107 dlrs per share vs 39 mln dlrs or 73 cts per share in 1985
the great plains area will be the predominate area which well get signup in a usda conservation specialist said
they cite restrictive trade practices protected japanese trade sectors such as agriculture and non tariff barriers such as unreasonable checking and customs procedures for car imports
the company said it has a 2333 pct interest and other interest holders include atlantic richfield co arc sun co sun and deminex ag 10 pct
they said miti will also review the breakdown of energy supply sources including oil nuclear coal and natural gas
burlington bni unit settles bondholder suit
the bundesbank shortened the reporting period to two weeks from four weeks last july
tanjug said this years exchange will value 530 mln dlrs
uk money market shortage forecast revised up
german money supply growth slows in february
federal reserve board vice chairman manuel johnson cautioned against seeking quick fix solutions to persistent us trade and federal budget deficits
general electric ge sells notes at seven pct
hudsons bay co 4th qtr net
us ruled out attack on iranian silkworms
essex chemical esx sells convertible debt
for this reason and because of a high trade deficit the united states has been pressuring japan and west germany to ignite their economies but with little apparent success
american motors corp said its directors met wednesday to review the takeover proposal which the corporation received monday from chrysler corp c amc said its board has retained independent investment and legal advisers and expects to meet periodically over the next several weeks on the proposal
the bank of england said it had provided the money market with a further 168 mln stg assistance in the afternoon session
laidlaw ldmfa splits stock hikes payout
gasoline containing at least 10 pct ethanol now receives a six cents per gallon exemption from a nine cent federal excise tax
group sales 1383 billion francs vs 1388 billion
japans february exports rose to 1674 billion dlrs from 1489 billion in february 1986 and from 1465 billion in january the ministry said
the committee believed the shared involvement in stockpile management was counter productive he said
among higher wholesale prices were those for fresh vegetables up 17 pct fresh fruit up 12 pct and eggs up 89 pct the statistics office said in a statement
laidlaw transportation ltd ldmfa 2nd qtr net
central showed pretax profits up by 57 pct to 188 mln stg for the year ended 30 september 1986
reserve bank governor gerhard de kock said the agreement was a good deal both for south africa and the banks
rlr financial services inc said the national association of securities dealers has decided not to delist its stock from nasdaq on march 12 as it had threatened
shr 72 cts vs 74 cts net 119 mln vs 119 mln nine mths shr 218 dlrs vs 218 dlrs net 350 mln vs 346 mln assets 46 billion vs 43 billlion loans 31 billion vs 28 billion note 1986 3rd qtr includes securities after tax gain of 1519000 dlrs or 10 cts a share
land securities issues 100 mln stg eurobond
gm gm march us car output rises
haerri said despite the losses the companys liquidity was strong
reserve bank governor gerhard de kock said the agreement was a good deal both for south africa and the banks
qtly div 14 cts vs 14 cts prior pay april 10 record march 27
the program offers a us dlr option whereby commercial paper in denominations of 100000 us dlrs will be issued subject to the same underwriting margin
ctc a group of canadian tire dealers added that it also extended its tender offer to march 31 and was seeking approval to extend its bid while the appeal court heard the case
analysts said the market is anticipating a downward revision and much of the bullish impact has been discounted
carney later told the canadian guidelines are basically compatible with the seven point australian proposals announced in davos switzerland in january
taiwan announces new round of import tariff cuts
as of friday dixons group plc had acquired 2455000 cyclops shares giving it 83 pct of the total
the issues were difficult to trade because they comprised securities of variable nominal value it noted
federal funds which averaged 606 pct yesterday opened at 6 1 16 pct and remained there in early trading
the commission also discussed the possible participation of spanish companies in the cuban tourist industry
holiday rambler which manufactures recreational vehicles was acquired by harley davidson in december 1986
venezuela will seek 24 billion dollars in export financing during 1987 double the amount it received last year public finance director jorge marcano said
the strong cash flow coupled with the proceeds of the 1986 rights issue and the use of existing cash balances enabled group debt to be reduced by nearly 500 mln dlrs
ameritrust currently has about 209 mln shares outstanding with 25 mln authorized shares
an export enhancement offer is not consummated overnight said one former usda official who noted that the administration took three months to decide in favor of selling china wheat under the subsidy program
the company said the move reflects lower material costs streamlined production processes and reduced manufacturing costs
kramer said domestic demand alone would fuel growth this year
this compared with six ships of 125150 gross tons a year earlier an association official said
malaysia is to urge fellow tin producing countries to contribute more money towards research into new uses for the metal malaysian primary industries minister lim keng yaik told in an interview
metromail corp said it expects flat operating profits for its 1987 fiscal year ending may 31 with last fiscal years earnings from operations of 9943000 dlrs or 105 dlrs a share
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
gencorp had earlier urged shareholders to reject a 100 dlr per share tender offer from general acquisition an affiliate of wagner and brown and afg industries inc and said it was studying financially superior alternatives
the 1986 wine exports were valued at 347 mln dlrs up from 276 mln dlrs the previous year
siemens raises stake in telecom plus of us 
under the agreement the royal dutch shell group unit agreed to pay 20 mln dlrs to settle refiner pricing issues and 160 mln dlrs to settle crude oil pricing issues doe said
the us and kuwait have been negotiating for over a month on methods of protecting kuwaiti ships
it said outstanding loans as well as amounts which could be drawns under issued letters of credit will be securited by accounts receivable and inventories of certain ltv subsidiaries
french unemployment has risen by more than 40 pct from 18 mln when socialist president francois mitterrand took office in 1981
japanese economist sees stable yen dollar rates
the bank also set a lira mark rate of 42915 43130 to the mark up from the previous 43050 43265
rothmans holdings tobacco ltd said in a sttement there was no foundation to press speculation that it would sell its stake in rothmans international plc rotl to philip morris inc mon or that it would buy morris stake
there is a 1 1 4 pct selling concession and 5 8 combined management and underwriting fee
taiwans trade surplus widened to 418 billion us dlrs in the first quarter of 1987 from 305 billion a year ago the government statistics department said
this will include 30 mln shares of common stock and 15 mln shares of class b common stock it added
the international monetary fund said it approved a 48 mln dlr loan to assist ecuador in meeting its foreign exchange needs following the earthquakes that struck in march
this weeks estimated arrivals total 487000 tonnes of which 107000 are grains oilseeds and 380000 derivatives
but providing the budget small print was convincing and i suspect it will be it is entirely possible that we see one point off base rates by the end of this week kern said
jones said the federal open market committee at todays meeting voted no change in fed policy
indonesia sees limited choices on economy
in 1986 the company earned 102 billion dlrs or 1026 dlrs a share compared with 9962 mln dlrs or 10 dlrs a share in 1985
we know it has been used indeed to not only launch small boat attacks on shipping but to fire on us helicopters its removal will contribute significantly to the safety of us forces in the future weinberger said of the us navys operation to escort oil tankers through the gulf
however employers did not favour a devaluation of the peseta to correct the imbalance
shr 27 cts vs 20 cts net 3411000 vs 2487000 revs 347 mln vs 319 mln six mths shr 51 cts vs 41 cts net 6372000 vs 5090000 revs 681 mln vs 637 mln avg shrs 126 mln vs 125 mln
fed not expected to add reserves
new rates previous in brackets average cd rates all banks 413 pct 433 money market certificate mmc ceiling rates for week starting from april 13 338 pct 358 average cd rates of city trust and long term banks less than 60 days 415 pct 441 60 90 days 414 pct 429 average cd rates of city trust and long term banks 90 120 days 412 pct 425 120 150 days 412 pct 423 150 180 days unquoted 403 180 270 days 405 pct 405 over 270 days 405 pct unqtd average yen bankers acceptance rates of city trust and long term banks 30 to less than 60 days 398 pct 420 60 90 days 403 pct 397 90 120 days unquoted unqtd
dotronix inc said it agreed in principle to buy video monitors inc a privately held company
principal and interest will be payed each month beginning may 25
qtly div 45 cts vs 45 cts prior pay may 15 record april 24
the bonus of 187000 dlrs per head was made to esmah nevada inc and will be paid in the form of commodities from the ccc inventory
total us copper stocks lower in january
januarys level was 129 pct higher than the same month a year ago
india steps up countertrade deals to cut trade gap
the transaction is expected to be completed during the summer 1987
gateway bancorp inc gban 1st qtr net
reynolds metals rose three points to 59 5 8 on volume of 729500 shares
the deal would probably push bps gearing up to around 59 pct from 20 pct currently he said
he also said improvements in the trade deficit should come from other sources besides the exchange rate and pointed out the administrations package to improve us competitiveness was now before congress
only a provision directing us officials to vote disapproval was enacted into law
ssmc ssm to buy cutters exchange division
heagerty chairman and chief executive officer of crossland savings fsla in bradenton fla will serve in that capacity for the new subsidiary resulting from the merger
colonial bancgroup clbga buys farmers
usair said the order was issued in response to its suit charging twa chairman carl icahn and twa violated federal laws and made misleading statements
brazil also proposed the end of spreads and conversion into bonds of part of the 70 billion dlrs owed to private banks
it said the deal would involve 13 starch factories employing about 5000 people in eight european community countries plus facilities and commercial operations in other ec states
multivest mvst ends merger talkssets purchase
analysts and traders generally predict a similar or smaller depletion for last week
qtly div 65 cts vs 65 cts prior pay may seven record april seven
the consensus view was to proceed as fast as we can on a broad front and see what areas emerge where we can get early conclusion she said
some believe prices can continue to rise if saudi arabia and opec hold steady in a refusal to discount
oil industry analysts said one reason for the stocks popularity of the stock is that it traded at a strong discount to its appraised value and was attractively priced for small investors
jc penney co inc jcp and dayton hudson corp dh were among the weaker performers with comparable stores sales declining 15 pct and 49 pct respectively
the exchange reflects the feb 23 three for two bellsouth stock split the company said
s and p cited continued poor operating performance of chi chis 200 mexican food restaurants and the companys planned repurchase of up to three mln of its common shares
a few opec countries last month exceeded the production quotas set at their last conference in december but liftings were reduced from several countries it said in its latest monthly oil market report
there are analysts however who believe wendys may be vulnerable to a takeover
imperial bancorp iban sets five pct dividend
imports dropped to an estimated 8794 mln dlrs from 8925 revised from 8912 in january and 9393 in february 1986
france for its part has made a counter claim for more than 500 mln dlrs in compensation for contracts with french firms broken after the 1979 revolution
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
he said he was happy with a good result for february but stressed a need for continued vigilance against inflation
the swiss national bank bought dollars against yen today a spokesman for the bank said
quantum diagnostics qtmcu gets patent
het comite has been co ordinating national actions against alleged distortions caused by currency factors in the levy and since december has lodged more than 80 individual cases with the business appeal court in the hague
group sells stake in comdata network cdn 
the company said initial costs connected with the startupo of a new memphis tenn marketing center for seven oaks direct may hurt earnings slightly in the first half of the year ending in april 1988 but seven oaks direct should operate at no worse than breakeven for fiscal 1988 as a whole
a later suggestion increased this to five pct but cable said yesterday the idea was still unacceptable
the company plans to drastically reduce debt with proceeds from asset sales
shr loss 58 cts vs loss nil net loss 29 mln vs loss 17818 revs 50 mln vs 74 mln year shr loss 45 cts vs profit four cts net loss 20 mln vs profit 174562 revs 285 mln vs 252 mln note1986 4th qtr loss includes loss of 22 mln dlrs from discontinuance of operations
it is quite clear that the fed is not firming policy at this time said larry leuzzi of sg warburg and co inc
sec charges campeaus allied stores with disclosure violations in recent takeover
all results restated to exclude five businesses divested as part of the companys restructuring program
third quarter net fell to 2060 mln dlrs from 2386 mln a year earlier and 2203 mln in the second quarter ended november 31 bhp said in a statement
output at both sites has been shut down since the production and maintenance workers along with about 600 office and technical workers went on strike may 9
domestic demand for edible use soybeans is expected to remain stable at about 240000 to 250000 tonnes a year the sources said
us price data suggest moderate inflation
the company also reported that george elkas formerly executive vice president has been named president and chief operating officer of flexi van corp while william burns has been named executive vice president of flexi van
subsidies in argentina and brazil two major developing country producers of commodities were not included in the oecd work
bethlehem steel corp said its base price for carbon plates and high strength and low alloy plates will be increased by 25 dlrs to 405 dlrs a short ton effective july one
some us officials complained japan has no intention of boosting domestic demand and imports as washington wants
the issue will be priced to have a conversion premium of 22 to 25 pct with final terms to be set on monday april 6
the package of energy loans was sold at book value so first city did not to show a gain or loss said bank spokesman james day
bank of canada governor john crow said he expects the canadian economy will grow moderately in the coming year despite the near flat growth in the final quarter of 1986
oper shr 26 cts vs 18 cts oper net 2877000 vs 1363000 revs 443 mln vs 408 mln avg shrs 109 mln vs 105 mln note prior qtr excludes loss 475000 or five cts per share for discontinued operations for the sale of subsidiaries intermedics intraocular inc electronics inc and intermedics infusaid inc
the countrys 1987 92 medium term development plan targets a 98 pct average annual growth in exports and a 107 pct growth in imports the ncso said
at an analysts meeting here the company said that for the year ending april 30 1987 it will earn about 73 mln dlrs or about 515 535 dlrs a share on sales of about 500 mln dlrs
it said the changes will increase daily service to austin to four roundtrips daily to tampa to three nonstops and a one stop to orlando to one nonstops three onestops and two connecting flights and to san diego to one nonstop and three direct flights
exports this year are expected to total 225 billion dlrs and imports 145 billion he added
although the central bank does not see any imminent risk of inflation there could be some problems in the future he said
exxons refinery operations benefited from a three year 500 mln dlr upgrading program to its baytown texas refinery completed last october and an 850 mln dlr upgrading project in rotterdam both of which emphasize utilizing lower grade crudes to extract higher proportions of light products
s and p pointed out that the fourth quarter loss resulted from the write off of nearly 600 mln dlrs in assets especially in agricultural chemicals and natural resources
lilly said it expects to use the after tax proceeds from the sale of its cosmetics business for general corporate purposes including the repurchase from time to time of its common stock or warrants on the open market
oper shr three cts vs 48 cts oper net 170000 vs 2324000 nine mths oper shr 126 dlrs vs 184 dlrs oper net 6157000 vs 8907000 note operating net excludes extraordinary gains of 231000 dlrs or four cts a share vs 2657000 dlrs or 55 cts a share in quarter and 1341000 dlrs or 28 cts a share vs 4637000 dlrs or 95 cts a share in the nine months
italian wholesale prices up 02 pct in february
offers must be received by 1300 cdt april 7 and successful offerors will be notified april 10
henley group incs mw kellogg co subsidiary said it in consortium with inelectra received a contract from corpoven sa a venezuelan owned domestic oil company to revamp and expand its el palito refinery
exports in february also in value terms totalled 4256 billion marks 05 pct less than in february 1986 but up 13 pct compared with january
wiggins was among five paradyine executives who were charged along with three former officers in a 1985 federal indictment stemming from a 115 mln contract awarded to paradyne in 1981 to build a computer network for the social security administration
safety kleen sk to buy stake in oil refiner
haughey to seek ec advice on irish debt
cyprus which produces talc said it has significant factual and legal defenses and substantial insurance coverage and does not expect the suits to have a material adverse impact on its financial condition
total sales for the same period are expected to rise to 5506 billion yen from a projected 5328 billion this year ntt said in a business operations plan submitted to the post and telecommunications ministry
syndication for elders ixl ltds elxas 100 mln australian dlr note issuance facility has been completed arranger westpac finance asia ltd said
canadian finance minister michael wilson said he will use temporary authority under the financial administration act to borrow an additional 600 mln dlrs in next thursdays treasury bill auction
any such moves could meet with opposition among some cbt members
he added that it was difficult at present to determine an exact time frame for any possible moves
the european community ec commission declined to give an official reaction to reports that a group of european operators plan to offer one mln tonnes of sugar into intervention in protest at commission export policies
us sugar policy may self destruct congressman
full name of company is first federal savings and loan association of chattanooga
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
the first phase was the supply of gas to households in and around the eastern oil town of kertih
but debt must be managed effectively or it hampers development he told newsweek
adsteam shares eased to 1420 dlrs from an opening 1460 and yesterdays close of 1450 on the issue announcement
who decides whether to keep or dismiss his ministers is the president
iran has conducted repeated attacks on shipping in the gulf and us officials have said that teheran has recently equipped itself with powerful chinese and italian made anti ship missiles posing a greater threat
the sources said finance secretary jaime ongpin made the proposal to a 12 bank advisory committee chaired by manufacturers hanover trust co as the talks entered their fourth week in new york
ongpin said the prepayments were part of seven different scenarios philippine negotiators prepared before the talks
opec agreed last december to limit production to 158 mln bpd and return to fixed prices averaging 18 dlrs a barrel
us oil lard statistics
he declined to project results for the second quarter or year
the offering is being managed by shearson lehman bros inc goldman sachs and co ef hutton and co inc and dean witter reynolds inc
nigeria britain to reschedule official debt
more than 170 ships in brazil and about nine more in foreign ports have been halted by the strike which began on february 27
unifast industries inc ufst year net
fees comprised 1 1 4 pct selling concession with 3 4 pct for management and underwriting combined
the commission claims last years accord between the us and japan on microchip pricing gives us firms privileged access to the japanese market
centel cnt completes sale
ford motor co ford motor credit may be raised by moodys affects 23 billion dlrs of debt
linde turnover up in first two months of 1987
the debt service ratio has risen to a projected 33 pct for fiscal 1987 88 from 25 pct in 1986 87 ending march 31
it said completion is expected to take place april 10
moodys said the affirmation reflected its assessment of a less diversified risk profile in the companys receivables
the cotton worth one billion shillings cannot be moved to ginneries in the region because most mill warehouses are full
anz bank plans 100 mln aus dlr euro cp program
the transfers would allow the country of registration to escort kuwaiti owned ships in the gulf
gould said the move is part of its previously announced plan to divest assets unrelated to its computer and electronics businesses
kinder care kndr sees higher earnings in 1987
but he did not say what if any changes are under consideration
but many said they did not expect the proposals to lead to higher prices in the industry simply because of the competition the phone industry giant faces
the proposals are to be voted on at the march 31 annual meeting
i think the stock market has decided that the bank lending figure is a thing of the past we are talking about a very serious panic and a flight to quality spencer said
the workers went on strike may 9 and production has been shut down since then
coleman sees 23 cts a shr 1st qtr charge from heat exchanger replacement program
parent payment to disclosed reserves 20 mln vs 15 mln
the bank will expand its first options of chicago options clearning unit into tokyo swearingen said but said its doubtful lending to japan will occur because that country doesnt need external sources of cash
wheat prices were pressured by selling in response to trends on price charts they said
capital has a land bank of some 2600 units and in the current year the company expects to sell 500 homes trafalgar house said
oper shr 93 cts vs 32 cts oper net 2443810 vs 847609 revs 303 mln vs 210 mln 12 mths oper shr 116 dlrs vs 85 cts oper net 3066407 vs 2250781 revs 709 mln vs 618 mln note qtr 1985 excludes gain 96327 dlrs for discontinued operations of lebanon packaging
he told a press conference in jakarta at the end of a two day meeting of south east asian energy ministers that he saw prices stabilizing around 18 dlrs a barrel
it also operates a fully integrated poultry business and a rendering businesses markets livestock and poultry feed and distributes grain through a network of country and terminal elevators
the barley area was unchanged at 952000 ha but oilseed rape increased to 393000 from 333000 ha
and technical products revenues and operating profit were ahead of last year led by a strong increases in medical systems volume and the inclusion this year of rcas communications and related services
however they said an all out trade war may be far off as ec states know they would suffer almost as much as japan
permian basin royalty pbt hikes distribution
tcf banking and savings fa said it is raising its prime rate to 7 3 4 pct from 7 1 2 pct effective today
the reserve bank said m 3 money supply in march was 11077 billion australian dlrs compared with a revised 10911 billion in february and 9948 billion in march 1986
staubli said the 1986 result well below predictions made this time last year suffered considerably due to exchange rate fluctuations in particular the strength of the swiss franc
turkeys central bank set a lira dollar rate for april 3 of 78250 78641 to the dollar down from 78000 78390
the cuts follow a similar move by national westminster bank plc nwbll the rate changes take effect tomorrow
the het comite spokesman said it was very likely it would refer questions to the appeal court in luxembourg and as a result it could easily be another nine to 12 months before the matter is finally resolved meanwhile the actions by dutch animal feed compounders are putting pressure on the commodity board to urge the dutch government to follow through on earlier statements and seek a complete review in brussels of the way in which the levy is collected the spokesman said
bancroft said its board continues to recommend that stockholders not tender their shares to zico a british virgin islands company which it said had ties to south africa
he can then tell reagan the ldp package will form the basis of the governments plans without losing face in parliament over the budget political analysts 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
payment is due on april 8 and the warrants will be listed on the luxembourg stock exchange
under a reorganisation announced separately hongkong electric will spin off all its non electricity related activities into cavendish which will be listed on the local stock exchange
japanese finance minister kiichi miyazawa expects the dollar to rebound soon a ministry spokesman said
in calculating moscows crop estimate usda used the 235 mln tonne production goal as well as a 238 mln tonne figure published in a soviet economic journal this month
but japanese cultural differences will be harder for germans to overcome
engelhard corp sets three for two stock split and raises quarterly
iran plans to file lawsuits over us raid
petrobras cancelled a 40 mln dlr crude oil purchase from the saudis yesterday after they refused to accept a letter of credit from the official bank of brazil
she said in moving more heavily into industrial fabrics burlington bought ch masland which supplies carpets and other fabric to the auto industry
but members have jealously guarded their sovereignty in economic and monetary matters
the institutes said this lack of clarity from bonn had caused uncertainty among companies and households as to what exactly they would receive from the tax reform and urged a quick decision from the government
credit foncier de france issues 150 mln ecu bond
continental said it may take similar action on its loans to ecuador which total 25 mln dlrs
community savings bank csbn qtly dividend
he did not specify for how long the suspension of payments would last
shr profit five cts vs loss four cts net profit 378000 vs loss 140000 revs 4226000 vs 1240000 nine mths shr loss 38 cts vs loss 16 cts net loss 1088000 vs 538000 revs 101 mln vs 2963000 note 1987 nine mths includes charge 1827000 dlrs for exchange by an officer and director of 554000 shares of junior subordinated stock for 443000 shares of common stock and a 10 year warrant to purchase 250000 shares of common stock at 450 dlrs per share
a senior government economist suggested that both the us and japan needed to ease monetary policy now to prevent a further drop in new york and tokyo stock prices
rigaud showed a warehouse stocked with an estimated 445000 unsold 100 pound 45 kg bags of sugar
us threats to scrap the agreement signed last september have pushed miti to try harder to get recalcitrant japanese chipmakers to abide by the pact the analysts said
us grain carloadings fall in week
thai rice exports rise in week to october 13
construction will start late this year with completion set for mid 1989
the us agriculture department projected chinas 1986 87 wheat crop at 9030 mln tonnes vs 8850 mln tonnes last month
the company was commenting on results that showed a net loss for the year of 621 mln stg after a 716 mln profit in 1985
asian cocoa producers expand despite critics
exports to argentina went up by over three pct to 15 billion marks and those to paraguay surged by 42 pct to 106 mln marks he said
the payment date is april 2
eight primary and registered dealers have undertaken to make markets in order to ensure liquidity he said
the week was the first half of a two week statement period
allegis aeg to sell canadian hotels
an officer with painewebber echoed that sentiment
jim walter corp jwc sets payout
the talks are also part of preparations for a full scale june meeting of the general agreement on tariffs and trade gatt in venice
shearson which originated the new convertible concept said each of the three tranches totaled 75 mln dlrs
the companies said the property has several gold bearing veins and has considerable exploration potential
a widening gap between austrian rates and cheaper west german credit along with forecasts of slow austrian economic growth this year also justified a further interest drop he said
western acreage should be up at least 20 pct said one commission house analyst whose estimate was based in part on forecasts made by the national cotton council during its annual meeting in late january
japanese officials refused to allow a new issue of venezuelan bonds until the country regains its triple a credit rating
summit tax exempt bond fund sua sets payout
merrill lynch and salomon brothers co managed the deal
the debts due in 1986 are being treated as arrears and will be rescheduled over six years with 2 1 2 years grace while the rest of the debt will be rescheduled over 10 years with a 5 1 2 year grace period
dixons sells 83 mln woolworth shares
the bonuses were made to cam usa inc the department said
in opening the meeting nicaraguan president daniel ortega said the lack of an accord on export quotas was behind falling coffee prices which he said have caused billions of dollars in losses to countries in the region
rexham corp rxh 1st qtr net
shr 18 cts vs 13 cts net 575000 vs 379000 sales 6625000 vs 4537000 avg shrs 3173000 vs 2977000
production of indonesian cocoa beans tripled to 31600 tonnes in calendar 1986 from 10284 tonnes in 1980
operators offered a total of 854000 tonnes of sugar into intervention last month to protest at rebates which they said were too low
trus joist corp said it agreed to purchase dashwood industries ltd a canadian wood window and patio door manufacturer for an undisclosed amount of cash
shr loss eight cts vs loss 20 cts net loss 586000 vs los 1497000 revs 138 mln vs 144 mln year shr loss 15 cts vs loss 18 cts net loss 1135000 vs loss 1377000 revs 577 mln vs 551 mln
the paper said rainfall during the last 10 days of march in areas south of the yangtze had been much higher than normal
the issue was increased from an initial offering of 50 mln dlrs because of investor demand
dutch feed compounder starts case against ec levy
dealers said the market was surprised by the chancellors disclosure of sterling target rates around 290 marks and 160 dlrs and nervous over the implications for domestic interest rates further reducing the propects for a near term cut in uk bank base rates
the mortgage sectors share in total parent bank business volume rose to 46 pct from 45
azraai said malaysias public sector deficit had risen due to the contraction in the governments resources as well as the rapid growth in public expenditures
caisse nationale des autoroutes cna is issuing a three billion franc 850 pct 15 year domestic bond at 9610 pct co lead managers caisse nationale de credit agricole credit du nord and credit lyonnais said
spot next and one week deposits climbed to 6 5 8 1 8 pct from 6 3 8 six on sunday
the results were 10 mln stg up on most analysts forecasts
the european monetary system marks its eighth anniversary still vulnerable to turmoil in world money markets despite creating an island of currency rate stability in europe economists say
while the owens illinois deletion was forced the inco substitution is being made solely to improve the market sector weighting of the index not because of any change in the company the paper stated
1985 4th qtr and year oper net excludes a loss of 1457000 dlrs or 14 cts per share and loss 1735000 dlrs or 18 cts per share respectively for discontinued operations
despite mounting us pressure on japan to open farm markets beef is strictly controlled by the government which maintains a price stabilisation zone to protect farmers
shr loss 64 cts vs loss 129 dlrs net loss 5732000 vs loss 4924000 sales 188 mln vs 236 mln avg shrs 90 mln vs 38 mln year shr loss 182 dlrs vs loss 365 dlrs net loss 12267000 vs loss 13911000 sales 1128 mln vs 1293 mln avg shrs 67 mln vs 38 mln
canadian 1986 87 coarse grain production is projected at 2762 mln tonnes vs 2762 mln tonnes last month
it also said top managements incentive shares were to be accelerated and paid for at a cost of six mln dlrs although there are restrictions on the shares unless waived by the companys compensation committee
motor wheel sells senior subordinated notes
independent estimates put total subsidies from all sources as high as 37 billion and the analysts said much of that money is wasted
weve taken specific steps to strengthen ourselves for this purpose he added referring to management changes and a corporate strategy of concentrating on four business sectors
lucas industries convertible bond increased fixed
the commodity credit corporation ccc accepted a bid for an export bonus to cover the sale of 30000 long tons of barley to israel the us agriculture department said
cif imports were 276 billion against 231 billion in january and 257 billion in february last year
supplies were cut to the point where we could not run the system at anywhere near capacity he said less than half of texacos oil supplies had been in jeapordy but the cut off would have produced severe shortages by mid may
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
japanese firms need high output to cut unit prices for us sales that the commerce department assigns them under the pact
thirteen vs 12 and 53 vs 52 week periods
windfall profits taxes on bass strait crude are no longer appropriate in the current economic climate story said
tokai bank doubles sterling cd facility
those who defend the continuously offered method such as wendy dietze a salomon brothers inc vice president point to the flexibility they offer in interest rate and maturity
japan imports some 12 mln tonnes of lpg a year of which 53 mln tonnes are supplied by saudi arabia 33 mln under term contracts and two mln through spot purchases
tonkas first quarter shipments will be down somewhat from 1986 record levels and gross profit margins will be down slightly from a year ago it said
jutland telephone sets 75 mln swiss franc bond
herold inc of greenwich conn said that the appraised value of the company based on available data is 3425 dlrs
returning to changing levels of interest rates lawson stressed that they are not an objective for the government they are an instrument of policy consequently the treasury had no precise target for domestic borrowing levels he said
the european community may decide to increase the cereals co responsibility levy and extend its scope to cover cereal substitutes if the commissions 1987 88 farm price package is opposed by member states edgar pye vice president of the british agricultural merchants association ukasta said
i am not ashamed to say it there definitely isnt a way to pay he said
at present we do not have a forecast for the unemployment rate this year but it is difficult to foresee the situation improving a labour ministry official said
to correct abuses in the financing of takeovers proxmire said the legislation would aim at insuring current margin requirments are properly enforced
he also said he still believes a dollar exchange rate level plus or minus 10 yen from 170 yen would be within levels agreed upon last month in paris by six major industrial nations
in january the index fell 11 pct from a year earlier the first drop of over one pct since a 13 pct drop in september 1958
indonesia seen at crossroads over economic change
south african gold holdings rise in march
shr 24 cts vs 18 cts net 359000 vs 297000 revs 5724000 vs 6430000 avg shrs 14750000 vs 1668000 note qtrs include tax gain of 147000 vs 137000
however the bank had been singled out for a much greater role under the us debt initiative proposed by treasury secretary james baker
shr loss eight cts vs loss 139 dlrs net loss 94000 vs loss 1569000 sales 6951000 vs 5518000 year shr profit four cts vs loss 295 dlrs net profit 41000 vs loss 3333000 sales 253 mln vs 229 mln
best products co bes 4th qtr jan 31 net
ongpin said the country should not have a financing gap before the end of next year at the earliest depending on the success of the philippine investment note issues which are planned but some bankers say they are already braced for new loan requests for 1988 and 1989
the net profit figure was reached after receipt of some 68 mln francs from plane sales compared with a mere 17 mln francs in 1985
communications and cable ccabo buys stake
the rate was 98 pct in february last year
cbo analyst edward gramlich said past trade protections first imposed in the 1950s have had only a small benefit for profits and investments of domestic firms
german research institute lowers growth forecast
commenting on the inflationary expectations poehl said you have to get to the root of the problem you have to pursue a policy which reveals that there are no grounds for such fears the inflationary fears were unjustified and exaggerated he said
the trade deficit rose to 664 mln dlrs in january from 146 mln in january 1986
decision also said it consolidated its decision development corp subsidiary into decision data computer corp the unit which designs manufactures and sells its system 3x peripheral products
now they are saying its in line when its at 146
this would be relatively favorable for the prices of high oil yielding seeds balletto said
the issue was increased from an initial offering of 60 mln dlrs because of investor demand
shr one cent vs nine cts net 51057 vs 554878 sales 245 mln vs 213 mln first half shr 15 cts vs five cts net 1026479 vs 313676 sales 484 mln vs 374 mln note net includes gains of 28000 dlrs or one cent a share vs 61000 dlrs or seven cts a share in quarter and 453000 dlrs or seven cts a share vs 61000 dlrs or one cent a share in half from tax loss carryforward
de groote said that regardless of the outcome of the proposed tricil acquisition laidlaw will decide within the next 30 days whether to stay in the north american chemical waste business through gsx corp
but he said the bank is willing to offer less profitable loans because it was just another way to attract people to our mortgage product trustee savings bank plc tsb was offering five year fixed rate mortgages at 99 pct earlier this year
he said quality potatoes are in short supply and prepackers have been paying between 145 and 165 stg per tonne for best samples
dominion textile president and chairman thomas bell was out of town and unavailable for comment
he said demand for the issue had risen sharply of late as uk money market rates continued their steady decline and income was threatening to overshoot an unofficial three billion stg target set for fiscal 1986 ending march 31
the broad based money supply is measured as liquid assets in public hands plus quasi monetary assets
reports about the trade surplus especially overseas tended to concentrate on nominal trade figures which rose to a record 1122 billion marks in 1986 he said
the cannon group inc said its financial statements will show substantial losses for fiscal 1986 and significant downward adjustments in previously reported stockholders equity the company also said its 1986 audit being conducted by arthur young and co will cover the year ended january 3 1987 instead of the nine month period ended september 27 1986 as previously announced
operators have already started to take account of the expected change and reported at least one trade in tonnes for aug sept shipment yesterday
maize increased one to 90 per tonne at buenos aires was unchanged at 82 in bahia blanca increased 050 to 85 at necochea and fell one to 88 at parana river ports
the issue is collateralised for 140 to 150 pct by us government and federal securities and cash to aim for a aaa listing a nikko official said
transamerica ta to have gain on unit sale
a company statement said hutchison forecast 1987 dividends for existing shares of not less than 325 cents a share and not less than 325 cents for each b share
a and p gap sets higher capital spending
international corona resources ltd said its board of directors believes that terms of royex gold mining corps previously announced offer are fair and reasonable but it decided it will make no recommendation on the offer to its shareholders
to go after individual items in a trade bill is suicide he said
in 1986 searles sales were 665 mln dlrs
routine sales of butter were made
theodor stadelmann dealer with bank julius baer and co ltd in zurich said he expects the dollar to hold steady against the mark and swiss franc but to weaken further against the yen possibly to 140 yen
lifestyle lif bombay amend merger agreement
currency exchange loss pushes malaysias debt up
but the interest is spreading
saudi february crude output put at 35 mln bpd
durakon industries inc said it has entered into a definitive agreement to acquire dfm corp a maker of bug and gravel protective shields for trucks and cars for an undisclosed amount of cash and debentures retroactive to september one
healthmate hmte expects qualified opinion
the commodity credit corporation ccc has switched 10 mln dlrs in credit guarantees to mexico to cover purchases of us wheat the us agriculture department said
as i said at a time of louvre agreement the expression of current level is rather vague idea he said
london sugar opens steady but quiet
the sources said the intervention price for the maize would be 20149 ecus a tonne
marathon petroleum reduces crude postings
prospects for renewal of the five year us ussr grains agreement are uncertain at this point a soviet trade official told 
talking point american express axp 
the issue is non callable and will be listed on the london stock exchange
gc goh chief dealer of the standard chartered bank said prime rate increases by citibank and chase manhattan bank to 7 3 4 pct from 7 1 2 may prompt hong kong banks to follow suit
an ifo report said recessionary influences were affecting the engineering industry particularly
talks fail to end brazilian seamens strike
basin pipeline texas okla border washed out by floods some 300000 bpd crude affected
cyprus minerals cypm wins coal contract
colombias marketing policy is to sell without haste but consistently
the action affected about 840 mln dlrs of debt securities
people buying for example more than five pct of a companys shares should be made to declare their purchase he said
the new domestic policy introduced on march 15 is for the government to supply unlimited quantities of wheat at two rupees per kilo
we believe gas prices have bottomed out
liquidity on the call credit market has fallen from around nine billion markka in early december to 167 mln last week while three month credits have risen to three to four billion
hog and cattle slaughter guesstimates
keating said the government expects economic growth to pick up moderately in 1987 88 due to a further significant rise in net exports and a very moderate but positive contribution from private domestic demand
britains highest court has decided the international tin council itc can appeal over the use of itc documents in court actions
energy development partners is a limited partnership which began operating in september 1985
but the analyst said uccel was worth the premium because of its earnings potential and customer base
1986 net income was 8725 mln dlrs
energy secretary john herrington said he believes the reagan administration will review its decision to cut the fill rate of the strategic petroleum reserve because of a department report issued yesterday warning of growing us dependence on oil imports
the offer is to expire march 13
yeo said the improvements were needed to cope with an expected growth of ship tonnage and cargo handled by the port but gave no further details
i expect to see enough improvement in real net exports to keep a recession from happening but it is a close call gramley said
us refuses parts of two australia beef cargoes
he categorically denied press reports suggesting interlink was developing a buyout bid
shr loss eight cts vs loss 24 cts net loss 1150000 vs loss 3450000 revs 557 mln vs 781 mln
the sharp rise of the mark coupled with weak prices of such key commodities as oil had a favourable impact on west german inflation down year
the government which has been in power since 1979 must call an election by june 1988
the group did not say whether the talks resulted in any agreements
service resources corp said it has withdrawn and terminated its 23 dlr per share takeover offer to sorg inc because sorg failed to respond to the bid
pier 1 imports inc said it amended its record and distribution dates for its previously announced three for two common and 25 cts preferred stock split
shareholders funds increased to 502 billion dlrs from 477 billion in 1985 the statement said
some tokyo traders were cautious about whether thu spot market has further upward potential in the short term having risen strongly on the opec news on friday
belgian minister unveils privatisation plan
volvo group company proposes two for five issue
we have to be competitive
the sale terms of which were not disclosed will be completed early in the second quarter rogers said
the debt is covered by a standstill agreement that expires june 30
nz trading bank deposit growth rises slightly
speculation about an impending deal rumored to be worth 600 mln dlrs also sent shares of other us brokerages up sharply
the belief that economic liberalism will produce an explosion of economic forces is ideological said indosuez chief economist jean cheval
goh said local banks want to restore the prime to 6 1 2 pct the level at beginning of 1987
uk reserves rise underlying 48 billion dlrs in may 29 billion april official
large numbers of our warplanes attacked the installations where the pipelines pump oil from ganaveh to kharg island turning them into rubble and setting them ablaze a military spokesman said
the company said it continues to be in default of certain financial and non financial covenants set forth in its major loan documents
the ussr has purchased 240 mln tonnes of us corn for delivery in the fourth year of the us ussr grain agreement
overall lyng predicted very little change will be legislated in the 1985 farm bill this year
the rric 103 is a new clone propagated by the research institute as high yielding and recommended two years ago for planting
gros will meet representatives of citibank the head of brazils bank advisory committee and of co heads morgan guaranty trust co and lloyds bank plc
but its not as big as taikoo shing he said
thailand expects smaller sugarcane output
in last years third quarter software ag earned 1598000 dlrs
uk producer prices seen moved by technicalities
the supplementary budget worth about 3448 billion dlrs was announced by the ruling liberal democratic party on the eve of miyazawas departure for washington to attend yesterdays meetings of leading industrial nations
while finance minister dilson funaro is unlikely to succeed in his attempt at seeking an outright political solution to the debt problem brazils suspension of interest payments on 68 billion dlrs of commercial bank debt has convinced at least some bankers that new ideas are needed
although british parliamentarians are pushing for a tough line on japanese trade issues government officials in the rest of europe told correspondents they would let the ec take the lead in any response to the us japan trade row
foreign trade financing declined to 5728 mln dinars from 6682 million dinars the previous year
an amsterdam court yesterday ruled there had been a legal fault in the employers redundancy procedure
in february borrowings from the private sector by non bank financial intermediaries rose by 10 pct compared with januarys 02 pct increase and the previous february rise of 17 pct
the offering is expected to be made before the record date of the split the company said
one of the deals in which an insider profit was alleged was the 1984 merger of k mart corp km with pay less drug stores another deal was the sale by wr grace and co gra of its holdings in hermanns sporting goods co an sec official in washington said the vaskevitch case is unrelated to the agencys widening investigation into wall streets insider trading scandal involving ivan boesky and dennis levine
alusuisse shares fall after capital cut news
the surplus enabled the country to reduce its foreign debt last year for the first time
marine midland said its total brazil outstandings as of the end of 1986 were 653 mln dlrs including 359 mln dlrs of medium and long term loans and 294 mln dlrs of short term outstandings
we are in no particular rush to sell our shares in air new zealand he said
this would scale back the 0 92 provision to the original proposal by english allowing a pilot 0 92 program for 1987 wheat only
johnston koppers co kop and j
minnesota power mpl sells seven year bonds
one key factor in the fourth quarter is expected to be a tax break of some 70 mln dlrs for the investment allowance on capital expenditure in the steel division they said
it will urge the major seven groups to merge into five to build up their muscles a source said
csr ltd csras intends to proceed with its planned bid for building materials group monier ltd mnras despite the counter bid from equiticorp tasman ltd etl csr executive director gene herbert told 
without endorsing the report as policy officials point out that the government has put its signature to a programme designed to implement the report the ambassador said
de laurentiis said it has 96 mln shares outstanding
this compared with a net outflow of 351 billion marks in february 1986 the bundesbank said
harkin said that under his policy approach farm participation would be no more mandatory than the current farm program
current half net includes 2051000 dlr pretax gain 2051000 dlrs from change in accounting
belgian unemployment based on the number of jobless drawing unemployment benefit fell to 118 pct of the working population at the end of march from 121 pct at end of february the national statistics office said
the steep increase in the number of branches of japanese securities houses in london and the growing numbers of us and uk brokers coming to tokyo has helped the london markets growth dealers said
agriculture would expand significantly if favourable weather continued and farmers responded to producer price rises announced in february the minister added
at the same time that we are pumping up inventories in the first quarter we could foresee production slowing in the second cautioned joe plocek of mccarthy crisanti and maffei inc who expects first quarter growth of about three pct
servotronics inc svt year net
etl is classified as foreign because of its new zealand base
shr profit 159p vs 225p loss div 3p making 45p vs nil turnover 193 billion stg vs 199 billion pretax profit 1342 mln vs 114 mln loss tax 472 mln vs nil operating profit 1630 mln vs 927 mln interest less investment income 138 mln vs 372 mln exceptional debit 150 mln vs 669 mln minorities 03 mln vs 04 mln extraordinary credit 164 mln vs 420 mln debit operating profit includes international computers 902 mln vs 617 mln communications systems 561 mln vs 487 mln components and distribution 200 mln vs 15 mln defence 94 mln vs 131 mln
japan must try harder to reduce its trade surplus or the yen will come under renewed upward pressure economic planning minister tetsuo kondo
the huckaby proposal is also supported by the ranking republican on the house agriculture committee rep
hammer said his group has been accumulating exovir stock since oct 28 1985 for investment purposes and may buy more shares or sell all or part of his current stake
production for the current campaign in spain was higher than reported last month at 103 mln tonnes compared with 997000 tonnes
the american ships the british ships the french ships now talk to each other and all weve got to do is formalize this arrangement warner said
outokumpu will acquire 21 pct of the shares in the spanish company and a company will be set up as an agent for outokumpu spain
shr 15 cts vs nine cts qtly div six cts vs six cts in prior qtr net 2002261 vs 1168638 revs 292 mln vs 293 mln avg shrs 131 mln vs 130 mln nine mths shr 49 cts vs 36 cts net 6404536 vs 4623295 revs 922 mln vs 882 mln avg shrs 131 mln vs 130 mln note dividend is payable april 30 to holders of record april 20
shr 21 cts vs 11 cts net 661000 vs 325000 revs 136 mln vs 134 mln avg shrs 3148000 vs 3011000 1st half shr 42 cts vs 25 cts newt 1310000 vs 752000 revs 282 mln vs 256 mln avg shrs 3136000 vs 3006000
agricultural aides to english said the congressmans first choice is to make the option available to all 1987 wheat farmers
api says distillate gas stocks off in week
the effective date of the rule has yet to be determined
the notes are for settlement april 9 and when issued trading is expected to begin at 0930 hrs est april 7 it said
the issue will be guaranteed by new south wales and will be sold in denominations of one mln yen with listing in luxembourg
the ministry of international trade and industry miti acted to tighten restrictions on microchip exports to countries other than the us to preserve a us japan pact on semiconductor trade but major japanese chipmakers doubt its usefulness
the deal is being sold through the bank of new zealand and is guaranteed by new zealand
this is when the european parliament is due to deliver its opinion on price proposals from the ec commission
sulpetro ltd said its 1986 fiscal year net loss of 2764 mln dlrs or 1922 dlrs per share was due to several factors the largest of which was a writedown of 1250 mln dlrs of oil and gas properties
the suit charges the offering materials are materially false and misleading and misstate and conceal material information required to be disclosed to shareholders
it said the action represents the last step toward completing the previously announced acquisition of southwest forest industries inc swf stone said the completed portion of the new credit facility consists of an 800 mln dlr term loan and a 200 mln dlr revolving credit
in an interview he said that could result in about a 45 pct decline in annual earnings per share
the grain sorghum harvest was the least affected by the rains advancing steadily in santa fe and cordoba and starting in la pampa to cover 14 to 16 pct of the total area sown
plantings were virtually complete across the province and germination was well advanced
first toronto capital corp said it planned to issue a five mln dlr convertible debenture to its dutch parent arcalex bv which if fully converted would raise arcalexs stake in first toronto to 62 pct from 54 pct
ubs nikko securities co international inc and yamaichi international america inc have also applied to the fed for primary dealership status
early last week chrysler said it agreed to buy the 461 pct interest owned by regie nationale des usines renault in american motors and acquire the balance of american motors in a transaction valued at 111 billion dlrs
however a spokesman for the city of london police said he was unaware of such an arrest and could neither confirm nor deny it
late last week the bank said only that the losses from the credits in stuttgart would be in the double digit millions
a year earlier they had produced and exported about 800000 more according to the london based international sugar organization
1985 net includes tax credits of one cent in the quarter and 37 cts in the six months period
it proposes to invest about 400 mln pesos in the manufacture of car spare parts and other items and generate about 100 mln pesos in export earnings over five years
but william randol analyst at first boston corp said crude oil prices will hold near current levels this spring
new bond issues accounted for 412 billion of the total after decembers 215 billion and credits 5251 mln after 3899 mln
germanys current account surplus widened to 663 billion marks in february from 479 billion in january but was down on the 726 billion figure for february 1986
the central bank said it will offer offer 250 mln rupees worth of three month treasury bills in a tender closing on june 4
ffb ffct sets initial quarterly dividend
this is not really of benefit to us firms either said jardine fleming securities ltd analyst nick edwards
industrial businesses contributed 202 mln stg to net profit a 40 pct increase from 144 mln in 1985 and 60 pct of the total
the company believes that in order to address its long term needs and return to a satisfactory level of operations it will ultimately need several hundred million dollars of additional capital or a combination with a more strongly capitalized entity first city said in a note to its financial statements included in the annual report
loewy believes the foreign debt problem a good crop plus difficulties with storage would help motivate selling of the brazil soybean crop
japanese shipyards to form cartel cut output
salant corp slt 1st qtr feb 28 net
westpac said in a statement the increase reflects high costs of funding
but most private economists disagreed and said consumers were likely to remain pessimistic in coming months as they saw their real income level off
icco members accept buffer stock principles
but some things are clear and they apply on both sides of the atlantic
aziz said he does not expect the change in system to have a major effect on total consumption but it may encourage better use of side products such as bran
analysts said controlling shareholders might use the b shares to retain corporate control while selling some of their existing holdings to finance new investments
the bank said 311 mln dlrs of the 1986 total represented downward adjustments to its portfolio of syndicated sovereign risk loans as required under the sale to hongkong bank
a 13 g is filed by passive investors to show holdings of more than five pct
it said it will continue to review the dividend on a quarterly basis
the soviet union recently reported that nine mln hectares of winter grain will have to be reseeded due to winterkill
washington has accused japan of reneging on the deal by selling low priced chips in asia and by failing to boost american imports and has threatened to take retaliatory action
australian foreign ship ban ends but nsw ports hit
bond analysts said that in view of the states practice of weighting the bulk of its capital market borrowing in the first half of the year it would be likely to raise at least four billion guilders
he said the groups stake of about 35 pct in hong kong land which will be lowered to 26 pct after the completion of a reorganisation is a long term investment and now stands at a level which causes us no financial strain or problems of asset imbalance keswick said the issue of new b shares will give the group the flexibility in the future to issue ordinary shares for expansion without jeopardising the shareholding stability which has been brought about through the groups recent restructuring he said the new issue is pending approval from both the firms shareholders and warrant holders adding an appropriate adjustment will be made to the warrant exercise price
the committee represents the countrys 400 or so private foreign bank creditors
cocoa buffer stock rules effective immediately
a five year production and investment plan launched in 1984 by zccm is being funded by the european community the african development bank and the world bank
out of this traders in west germany received 34750 tonnes in the uk 13000 in denmark 7250 and in france 4000 tonnes it added
japan extends 24 billion yen loan to bangladesh
qtrly div 11 cts vs 11 cts pay april 21 record april 10
hal weiss chairman president and chief executive officer of rocky mount undergarment co inc said he expects the company to show a profit for the first quarter fiscal 1987
tokyos foreign exchange market is watching nervously to see if the us dollar will drop below the significant 14000 yen level dealers said
sindt said a number of issues will be discussed at that meeting including the current concern over the gulf corn premiums
the inland revenue would be told to consult urgently with lloyds about the details of the legislation he said
i also have to orga nise the strike weizsaecker is hosting a dinner tonight for paz estenssoro and had invited both lechin and victor lopez the miners federation top leader
general partners said it sold 1930500 shares of gencorp on april 10 at 11825 dlrs a share in an open market transaction on the new york stock exchange
japanese securities houses also may allow foreign brokers to underwrite more 10 year bonds from april
mcivor said 37 of the worlds 30000 oil fields contain about 35 pct of all oil ever discovered
the reserve bank said the m 3 data for march was affected by the start of the operations of national mutual royal savings bank ltd which has resulted in the transfer of deposits equivalent to around 15 pct of m 3 from the united permanent building society to national mutual royal savings bank ltd
crosby owns 340783 of the 752297 class b shares
american television and communications corp said it has completed the acquisition of manhattan cable television inc from time inc for about 9400000 class b common shares
burgess said usda will probably narrow back the gulf differentials when and if gulf prices recede
uk base rates were cut last week to 10 1 2 pct from 11 pct after sustained pressure from the foreign exchange money and government bonds gilts markets
medco containment services inc said its board declared an initial annual dividend of 10 cts per share its first payout payable march 19 to holders of record march 12
us officials blamed brazils intransigence for the failure of the talks and said a more flexible position from brasilia would be the most important step toward agreement
it said the entire purchase price will be payable over a three year period and based on a percentage of pre tax earnings of the acquired operation
they expect it to supply the reserves indirectly by arranging a fairly large round two billion dlrs or more of customer repurchase agreements
at least 500000 tonnes of soymeal may be shipped from the european community and south america in the january march quarter with additional large quantities likely to be imported in the april and july quarters from argentina and brazil it said
it also purchased 65 mln stg of treasury bills in band one at 9 7 8 pct
shr loss 942 dlrs vs loss 385 dlrs net loss 555 mln vs loss 214 mln revs 1149 mln vs 1200 mln avg shrs 6460000 vs 5719000 year shr loss 680 dlrs vs loss 477 dlrs net loss 360 mln vs loss 262 mln revs 4789 mln vs 4379 mln avg shrs 6016000 vs 5713000 note net includes realized capital gains of 2610000 vs 2442000 for qtr and 181 mln vs 136 mln for year
the filing consists of 100 billion dlrs of senior debt securities and 500 mln dlrs of subordinated debt securities including capital securities
despite intensive exploration in the early 1980s the addition to reserves has been inadequate he said
acmex said it was presently entitled to 51 mln cheetham shares or 1685 pct of its 3027 mln issued shares
gnp rose 125 pct in calendar 1986
financial corporation of americas american savings and loan association unit said it signed a definitive agreement to buy three retail savings branches from gibraltar financial corps gfc gibraltar savings unit
the soviet oil production target for 1988 has been set at 625 mln tonnes a rise of eight mln tonnes over this years planned output
japans livestock industry promotion corp lipc said that on april 28 it will import 7515 tonnes of beef for the first half of the 1987 fiscal year started on april 1 under the simultaneous buy and sell tender system against 6813 a year ago
although the yens rise will have a greater deflationary impact on the economy the economy is not likely to slow down much further sumita said
helen of troy corp said it filed with the securities and exchange commission a registration statement covering a 20 mln dlr issue of covertible subordinated debentures due 2007
for 1986 as a whole visible trade was in deficit by 83 billion stg sharply up from 1985s 22 billion shortfall and a 44 billion deficit in 1984
national westminster bank plc nwbll led the way this morning after the bank of england lowered its dealing rates in a signal that it would tolerate a half percentage point reduction
it stressed the need to segregate wheat categories at every stage from receival to shipping
shr 54 cts vs 24 cts net 633300 vs 300859 sales 152 mln vs 130 mln avg shrs 1165047 vs 1224982 year shr two dlrs vs 164 dlrs net 2379400 vs 2011924 sales 586 mln vs 540 mln avg shrs 1187828 vs 1223511
the mine to be known as the goodall project will be owned 60 pct by wmc and 40 pct by a local wr grace and co gra unit
the soviets purchased five cargoes of raws for april may shipment towards the end of last month which brings its total purchases to around 165 mln tonnes man said
ftc eases allied signal ald unit restrictions
g 7 seen fighting to keep currency pact
kidnapped businessman released
shr 21 cts vs 19 cts net 2560000 vs 2359000 revs 700 mln vs 560 mln nine mths shr 54 cts vs 42 cts net 6574000 vs 5100000 revs 2077 mln vs 1740 mln
dutch merchant bank pierson heldring en pierson said in its february economic outlook that gdp growth at constant prices was expected to be 11 pct this year and market analysts had expected the cpbs final forecast to be below its own latest estimate
other eurofranc bonds this month are likely to include issues by a bank and a company both unidentified but no other details were available
after venezuela clinched a revised rescheduling agreement last month at 7 8 pct over libor some new york bankers imediately claimed that 7 8 pct should be seen as a new benchmark for a debtor that needs no new loans is current on interest and is repaying some principal
the coupon has been set at five pct and conversion price at 74 dlrs per share which represents a 2385 pct premium over genentechs stock closing level of 5975 on the new york stock exchange last night
allied signal inc and schlumberger ltd jointly announced that schlumberger had acquired allied signals neptune international unit
the selling concession is 1 1 4 pct while management and underwriting combined pays 3 4 pct
he said only that the company was reviewing a number of possible alternatives for the fairchild unit
the spot riyal was steady at 37500 03 to the dollar after quotes of 37498 7503 yesterday
completions of new homes fell 02 pct in january to a seasonally adjusted rate of 1884 mln units from 1888 mln in december the commerce department said
soros has told the company today that he is not dissatisfied with management fairchilds bill fulwider told 
waste management inc said it filed a motion in us district court for the southern district of ohio to dismiss the counterclaim brought against it by chemlawn corp chem the litigation relates to waste managements cash tender of 27 dlrs a share for all shares of chemlawn
talking point steel companies
bankers trust co bt which also quotes its broker loan rate publicly raised its rate to 7 1 2 pct earlier today
three united steelworkers of america locals on strike at cominco ltd rejected a tentative three year contract a union representative said
the new grand bois mine represents large amounts of money said a former official of sedren mine
industrial holding company williams holdings plc said it was bidding 5422 mln stg for the ordinary shares of building products and packaging group norcros plc
franklin high yield tax free sets payout
the bank which raised its rate for ordinary overnight assistance to 13 3 4 from 13 1 2 pct on wednesday opened its special borrowing facility for overnight funds at 14 1 2 pct
he said he plans to combine the company with republic to form an efficient network of hospitals
other ec countries would be authorised to use stocks of food for which they have already applied under the scheme up to april 30
the company said in a brief statement that it acquired the stock in late 1986
frances economic performance led by a mixed cast of right wing ministers and a socialist president has won mixed reviews from non partisan analysts
coffee exports are especially sensitive to the disruption of rail transport since president yoweri museveni has banned their haulage by road in a drive to save transport costs
bankamerica corps bac bank of america unit last week issued 400 mln dlrs of securities backed by credit card receivables via sole manager first boston
huges tool company says baker international merger plan not terminated
at the seasons first crop test on june 26 the bureau rated crops at an overall 94 the same as on june 20 last year
the final fourth quarter revision however left unchanged the previous estimate of a 25 pct increase in gnp for all of 1986 over 1985
in addition to proposing an increase in the number of its outstanding common shares gencorp had suggested the adoption of a classified or staggered board and the elimination of cumulative voting
it said in most of europe and in japan raw materials and oil will cost less in domestic currency in 1987 than in 1986
at the time of the louvre agreement european countries did not want the yen to weaken against their currencies so they did not object to the yen strengthening they said
gross fixed capital expenditure fell 01 pct in the quarter while exports of goods and services rose 130 pct and imports 29 pct
however the company believes it will be able to do so hawkeye said
prime minister yasuhiro nakasone said the dollars sharp fall against the yen overnight was only temporary
rule declined further comment while the review was continuing
defence secretary caspar weinbergers position was not known but in the past he has opposed the transfer of high technology to foreign governments or companies
world bank to loan jamaica 104 mln dlrs
iaes other owners are rolls royce plc japanese aero engines corp fiat spa and mtu of west germany
piedmont pie takes no action
brazils 40000 seamen are seeking a pay rise of 275 pct
cathay pacific airways ltd caphhk forecast another good year in 1987 in view of good growth in both passenger and cargo traffic volumes early this year over the year earlier period
principal neo tech sells unit
fading hope for passengers trapped aboard a partially sunk channel ferry raised fears the accident could rank among this centuries worst peacetime shipping tragedies
memory protection devices said it received a senior loan commitment letter as well as the requisite waiver under the new jersey environmental control reclamation act both of which are necessary to complete the acquisition
the first boston executive attributed this to the deals top flight rating by both agencies unlike many of last years cars deals which were rated by s and p alone
santos said it had a successful gas exploration program finding 172 billion cubic feet in south australia but oil exploration was less successful with 162 mln barrels added to reserves less than depletion during the year
noting that it typically reports first quarter results in late march said the report is likely to be issued in early april this year
certain difficulties have arisen this year in the machine building industry
first wisconsin corp said it plans to acquire shelard bancshares inc for about 25 mln dlrs in cash its first acquisition of a minnesota based bank
with the april 15 tax return deadline less than a month away confused taxpayers will be converging on h and r block incs offices to interpret the new tax codes
the notes are guaranteed by fuji bank ltd
and if the us trade deficit does fall the japanese will have less money to invest
earlier this year williams suggested holding talks with norcros on a possible merger but was rebuffed by norcros which replied that any benefits that could be achieved could also result from normal trading
shr loss two cts vs loss 138 dlrs net profit 34000 vs loss 3296000 revs 3121000 vs 1546000 year shr profit 28 cts vs loss 161 dlrs net profit 1088000 vs loss 3546000 revs 5266000 vs 4169000 note current qtr per share figure adjusted to reflect provision for preferred stock dividends
this is because the markets know or perhaps because they dont know what the central banks can do poehl says of intervention in currency markets which can quickly turn rates round making a speculators position worthless
however chevron officials declined to comment on the analysts reserve estimates
a confidential world bank report on the peruvian economy said the governments strategy does not offer good prospects for medium and long term growth and is likely to quickly lead to inflation
the bank of japan actively bought dollars here in early afternoon trade at around 14220 yen dealers said
sigma said the reserves are equivalent to 10 years future production at current milling rates
china reports 700 mln dlr two month trade deficit
shr loss 53 cts vs loss 32 cts net loss 1548000 vs loss 929000 revs 9362000 vs 113 mln 12 mths shr loss 82 cts vs profit 17 cts net loss 2408000 vs profit 452000 revs 409 mln vs 395 mln note full name of company is rocky mount undergarment co inc
finance minister kiichi miyazawa told parliaments lower house finance committee that the us is expected to intervene in the foreign exchange market to stabilise exchange rates political sources said
knutson mortgage corp said it expects strong earnings performance for its initial fiscal second quarter earnings ending march 31 since going public in september 1986
calculations based on istat figures showed industrial production rose 24 pct in january on a month on month basis after falling 120 pct in december over november
those who came tried to cut back on expenses chiefly by curtailing shopping it said
it will buy back the debt at 110593 dlrs per 1000 dlr face amount including accrued interest
farmers incomes fell 11 billion dlrs in may after decreasing 67 billion dlrs in april due to lower farm subsidy payments the department said
yesterday the federal department of energy charged gulf canada with eight counts of illegal dumping for discharging powdered cement and drilling mud between september 23 and 30 last year
the non callable bond is guaranteed by the parent
american motors amo extends incentive program
the figures cover around 95 pct of rotterdam traffic in the products concerned
the bank of france said it will offer four billion francs worth of negotiable treasury bills at its next weekly tender on march 30
average prices fell to around 110 cents a lb following the news of the breakdown but we expect them to move back again to around 120 cents within a few weeks the roaster added
halbert charles m
in the 1986 first quarter brand reported earnings of 21 cts on revenues of 285 mln dlrs
last year shipments were in three parcels of 120000 tonnes each and four of 30000 tonnes each
commenting on the trade deficit mulford reiterated the treasury position that the current account deficit will decline from 148 billion dlrs last year to around 130 billion dlrs this year due to the exchange rate adjustments of the past 18 months
in a speech prepared for delivery to the annual meeting of the iadb baker said we are making progress in negotiating reforms and he added that if succesful washington would be ready to put up an additional nine billion dlrs to the seventh iadb four year capital replenishment an increase of 75 pct
more
union pacific corp said it has closed the previously announced 50 50 partnership with petroleos de venezuela sa venezuelas national oil company to own a 160000 barrel per day refinery in corpus christi texas
more heavy rains in argentine grain areas
shr 59 cts qtly div eight cts vs eight cts prior net 1675000 vs 1302000 assets 6133 mln vs 6035 mln deposits 5237 mln vs 5178 mln loans 4692 mln vs 4495 mln note 1986 per share figures not available because bank converted to stock ownership dec 18 1986
shr loss one dlr vs profit seven cts net loss 30 mln vs profit 349000 revs 356 mln vs 493 mln year shr loss 287 dlrs vs loss 271 dlrs net loss 84 mln vs loss 79 mln revs 1403 mln vs 1692 mln noteearnings reflect preferred dividend requirements 1986 year includes one time gain of 12 mln dlrs
if the ico consumers accept our proposal it stands at least a fair chance of being accepted by the producers at the september meeting most of whom are generally in favour of a new quota formula van horick said
three of the accused face alternative charges of breaking safety regulations set out in the mines and works act
a fed spokesman told a press conference that there were no large one day net misses in the feds estimates of reserves in the week ended wednesday
net international monetary reserves declined to 575 mln dlrs at end september from 1468 mln dlrs at end september 1986
the report said saudi arabia had been sending clear signals on the need to maintain oil prices at current levels of around 18 dlrs a barrel and adopt provisional output rises agreed in december when opec meets in vienna on june 25
bnl said last week it had appointed another member of the board to take on the role of vice president temporarily
signet banking corp sbk 3rd qtr net
bank of france leaves money market intervention rate unchanged at 7 3 4 pct official
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
it said the firm which it did not name earned about 1500000 dlrs pretax for the first nine mons of 1987
no details are yet available on how many coins will be issued or how much gold will be bought but traders said that the amounts involved would be unlikely to move the gold price
net income 1547 mln pesos vs 1275 mln operating revenues 442 billion vs 33 billion operating profit 6212 mln vs 2034 mln earnings per share 480 vs 395 note company statement said gold operations contributed 74 pct of consolidated earnings
on wednesday the court of appeal will link the outstanding itc cases that have so far reached it and a single set of hearings could begin in early january they added
cyclops corp said its board has been restructured under the terms of the companys merger agreement with dixons group plc following the british companys acquisition of 54 pct of cyclops stock
continental airlines files for note offering
at a board meeting yesterday concacs directors deleted a provision allowing the holder of at least one third of of all classes of its voting stock to call a special shareholders meeting and deleted another provision allowing shareholders to remove directors without cause the company said
ec warns congress on new trade bill
this annual amortization amount is based on recovery of about 653 mln drls over an 8 1 4 year period beginning april 1 1987
treasury official says philippine pact very near
abington savings bank abbko 1st qtr net
analysts speculated that all of shearson would have a market value of about 35 billion dlrs
james river corp jr sets regular payout
he said the government has finalised an agreement with edfman sugar ltd under which edfman will hold a buffer stock on the governments behalf of 20000 tonnes against the 45000 tonne buffer stock usually held by the department
the week was the second half of the two week statement period that ended wednesday
fed will buy bills for customer after auction
but he said it would be difficult for japan to resolve its overall trade row with washington and reduce its trade surplus which reached 586 billion dlrs in 1986
each note will bear interest at a fixed rate or variable rate formula established at the time of issuance it said
but financing these tax cuts has proved more difficult for stoltenberg than he had bargained for
the company said the disposition will result in no profit or loss for the company because the costs were anticipated in a 34 mln dlr reserve taken in the third quarter of 1986
ibj establishes 200 mln stg cd programme
strong demand for us corn in japan usda
they said lower interest rates and financial liberalisation have cut profits from dealings with big firms to nearly nothing
suspensions parts industries ltd spilf year
the securities will be available in bearer or registered form in denominations of 5000 dlrs each
sorghum use rose marginally to 480 mln tonnes in 1986 87 from 479 mln but the compounding ratio fell to 185 pct from 189 pct because of greater corn use
j pete silas said his companys stock ranked fourth on the most active list of stocks traded today rose partly because of steps it took to pare its debt
the february figure is likely to be revised upwards by just under one percentage point next month when the march figure is released a ministry statement said
fish meal production outside south america decreased slightly falling from 114400 to 111100 tonnes
thailands trade deficit widened to an estimated 47 billion baht in february from 21 billion in january and 28 billion a year ago the bank of thailand said
the program now has annual commercial sales of about one billion dlrs and holds 50 pct of the free world market for enrichment services
shr 370 cents vs 600 final div deferred vs 11 cents 1985 full year 200 pre tax 17105 mln vs 23997 mln net 8867 mln vs 14404 mln turnover 40042 mln vs 50651 mln other income 8544 mln vs 7104 mln shrs 23899 vs same
brentwood said in the suit the evaluations were misleading and has damaged its reputation
bank of japan to sell 300 billion yen in bills
they said it is mainly due to 1300 billion yen of government tax allocations to local governments and public entities and to excessive banking system cash holdings due to continuous large central bank dollar purchases
qtrly div 26 cts vs 27 cts prior payable april 27 record april 10 note full name of company is cpl real estate trust investment
gte corp gte 1st qtr mar 31
japan carefully considering money policy sumita
if we were to make a major acquisition it means we can move with a certain expediency sinclair said
abbott laboratories inc said its 1987 first quarter record results reflected continued productivity improvement higher volume better product mix and a weaker us dollar
eisenberg was unavailable for comment
official figures show the number of new licences for industrial ventures fell 24 pct in the six months to march 1986 compared with the same period in 1985
since those imports in 1983 84 the us has been facing increased competition from south africa in taiwan and japan
the number of new non farm jobs rose by 337000 in february after a 319000 gain in january and a 225000 december increase the government said
a majority of producers wanted quotas to continue under this basic scheme
the final decision will be left with the biffex board which will meet at the end of this month he said
the sec secured a temporary restraining order freezing all the assets of the defendants in the united states
oper shr profit 13 cts vs nil oper net profit 612806 vs profit 2363 sales 8317933 vs 2823243 nine mths oper shr profit 32 cts vs loss four cts oper net profit 1464338 vs loss 161315 sales 203 mln vs 8241463 note 1987 earnings exclude gains from utilization of tax loss carryforwards of 321980 dlrs or seven cts a share in the quarter and 772285 dlrs or 17 cts a share for the nine months
bayer said parent company volume sales were also higher in 1986 although turnover fell 43 pct to 1677 billion marks
carlo de benedettis food company industrie buitoni perugina spa said it has acquired the italian food group vismara
but building societies said they would not cut lending rates until base rates had fallen by one full point
it expects to write down some previously acquired assets but the company did not say by how much
anyone nominated to replace volcker would have paled in the initial comparison hormats said
grease monkey holding corp said it has received and rejected an unsolicited merger offer from jiffy lube international inc lube the company said the proposal involved an exchange of grease monkey common stock for a combination of jiffy lube securities with an estimated current value substantially below grease monkeys current market price
chigaga told in an interview it was not true that western states had threatened to withold financial aid following zambias abandonement of a tough imf inspired program that included the auctioning of the local kwacha
it would forfeit 190 mln dlrs of profits this year as a result but for a company which earned over a billion dlrs in 1986 the setback would be manageable
economists have been banking on an improved trade performance this year to stimulate an otherwise sluggish canadian economy
goodman fielder ltd an australian food products and supermarket firm is planning a 100 mln us dlr multi option note issuance facility lead manager bt asia ltd said
the companys stock is currently trading at 19 1 4
gafs net earnings included an after tax gain of 2014 mln from its participation in a union carbide exchange offer a special union carbide dividend and the sale of its union carbide shares
the loan is still only 99 pct subscribed and the loan books will be kept open for several more weeks to round up the final 100 mln dlrs and the approximately 60 banks that have so far refused to join the deal
egypts central bank today set the dollar rate for commercial banks for march 6 at 1373 87 dollars unchanged from the previous rate
china industrial output rises in first quarter
magnetic technologies corp said it expects the second half to show continued growth in earnings and sales
metromail corp mtml 3rd qtr march 1 net
bwa advised shareholders to ignore the offer and said other parties had expressed interest in bidding for it
the analysts also said they expect jardine matheson to pay a total dividend of 15 to 20 cents a share against 10 cents a share in 1985
i think we are finally down to the final paragraph in this book he said
the us in july proposed to gatt the elimination of all farm subsidies affecting trade within ten years and has pressed the ec to make a counter offer with the aim of reaching a global farm subsidy agreement by the end of 1988
the oil tax and customs user fee have already been the subject of formal gatt dispute panels set up outside the uruguay round to rule on the legality of the practices
that is slightly less than the 58 mln bags produced in 1985 86
argosystems will operate as a wholly owned subsidiary of boeing co
the vein is continuous averaging four feet thick plus an altered mineralized hanging wall
the brazil announcement came later he said
rhode island democratic sen
delta said it expects sales of about 30 mln dlrs for the year ending in april
prime minister margaret thatcher said the uk was growing more impatient with japanese trade barriers and warned that it would soon have new powers against countries not offering reciprocal access to their markets
power corp of canada 4th qtr net
it gave no figures
borg warner corp said it agreed to sell its industrial products group to clayton and dubilier inc and senior management of the group for about 240 mln dlrs
shr loss 173 dlrs vs nil net loss 163 mln vs profit 2206000 sales 691 mln vs 291 mln note per share is after payment of preferred dividends
banque francaise du commerce exterieur is issuing a three billion franc 850 pct 11 years and 302 days domestic bond with warrants at an issue price of 9642 pct lead manager banque nationale de paris said
the drop was due to operating problems in the campos basin the countrys main producing area where output was down to 346011 bpd from 357420 a petrobras statement said
toshin steel co ltd tosst and azuma steel co ltd affiliates of nippon kokan kk nkktt are considering a merger company spokesmen said
at the moment all the action is taking place in new york and tokyo one said
both malaysia and indonesia are low cost producers and traders said they could last out low prices longer than west african countries
other service industries that increased jobs last month were finance insurance and real estate
most companies cannot afford it george unzelman president of hyox inc said these proposals will place pressure on small refining operations and promote further industry consolidation an npra survey of of 139 refineries which was released at the conference said reducing sulphur content to 005 pct weight and aromatics to 20 volume pct aromatics in highway diesel fuel would cost refiners 665 billion dlrs
iran is claiming full repayment of principal and interest on the shahs loan made in 1975 to the eurodif uranium enrichment consortium
it said the increase was concentrated in loans to the manufacturing and real estate sectors while loans to the commerce sector declined
i am speculating that the new product could be an electronic still camera referring to a camera that records its images on magnetic disks as opposed to conventional film
shr 83 cts vs 67 cts net 10052000 vs 7929000 avg shrs 12161000 vs 11824000 nine mths shr 233 dlrs vs 191 dlrs net 28110000 vs 22386000 avg shrs 12078000 vs 11729000 assets 59 billion vs 57 billion deposits 53 billion vs 48 billion loans and leases 42 billion vs 40 billion
conditions in the coming year are sufficiently subdued to contribute to marked improvements in both the balance of payments and the rate of inflation the nzier said
honeywell said the sale of his has created a new dedicated computer company jointly owned by bull nec and honeywell
1st qtr feb 28 end shr 18 cts vs 13 cts net 1541000 vs 1122000 sales 397 mln vs 335 mln avg shrs 8517000 vs 8441000 note share adjusted for five pct stock dividend in august 1986
shr 41 cts vs 39 cts net 223 mln vs 204 mln revs 6311 mln vs 6448 mln avg shrs 51551000 vs 50128000 nine months shr 116 dlrs vs 113 dlrs net 643 mln vs 596 mln revs 190 billion vs 203 billion avg shrs 50868000 vs 50028000 note all results reflect five for two common stock split payable in the form of a stock dividend payable july 10 1987
the australia based ariadne australia ltd plans to set up a branch in the philippines to fulfill a prerequisite for the takeover of the philippine brewing firm san miguel corp a hong kong newspaper said
shr loss one ct vs loss 16 cts net loss 117989 vs loss 528394 revs 820484 vs 35186 avg shrs 8226577 vs 3150000 nine mths shr loss seven cts vs loss 37 cts net loss 527864 vs loss 1177434 revs 1975487 vs 90875 avg shrs 7277418 vs 3150000
qtr ends jan 31 shr seven cts vs 20 net 184000 vs 387000 revs 91 mln vs 67 mln avg shrs 2804752 vs 1875000 12 mths shr 13 cts vs 33 cts net 315000 vs 627000 revs 324 mln vs 246 mln avg shrs 2475943 vs 1875000
taxes should be cut by a greater amount than currently planned and wage increases in 1987 and 1988 should be markedly lower than in 1986
that is 73 basis points more than the yield of comparable treasury securities
output of consumer goods rose 06 pct after falling 03 pct in january and output of consumer durables was up 21 pct in february after falling by 20 pct in january
james cotting now vice chairman and chief financial officer was named to succeed lennox as chairman and chief executive officer of navistar international corp
jeffrey neuman of santa monica calif told the securities and exchange commission he sold his entire rb industries inc stake of 341210 shares or 100 pct of the total outstanding
it said operating results will fluctuate quarter to quarter depending on the timing of significant payments from commercial partners
bear automotive service bear 4th qtr oper net
opec output in may seen over ceiling at 17 mln bpd london june 1 opecs may output appears to have risen well above its 158 mln bpd ceiling to 17 mln bpd and the increase is likely to put a short term lid on spot oil prices kleinwort grieveson securities says
last week licences for 60500 tonnes were awarded at a maximum rebate of 43147 ecus
he was talking to reporters yesterday on the eve of a two day meeting of trade ministers which will review progress made by committees set up after the uruguay meeting last september launched a new round of gatt general agreement on tariffs and trade talks
canadas minister of state for finance thomas hockin had threatened legislation to reduce the rates which apply to unpaid balances if the financial institutions did not voluntarily act
marshall steel ltd year net
the economy faces lackluster growth and the risk of recession this year if the recent improvement in us exports should falter economists say
1986 year net includes charge 340 mln dlrs from restructuring of bojangles restaurant unit and charge 4090000 dlrs from exchange of notes for common stock
robinson
the february 22 paris agreement of the group of five and canada to stabilise exchange rates is widely believed to include target ranges but all participants to the meeting had so far refused to specify these
uk money market given 224 mln stg assistance
if the dollar drops to that low level it could reduce the flow of foreign capital into us securities which the americans dont want said haruya uehara chief money market manager of mitsubishi trust and banking corp
homestead financial corp said it has increased the dividend on its class a common shares to 6 1 4 cts a share from five cts prior while declaring an initial dividend on its class b common stock of 3 3 4 cts a share
finance minister kiichi miyazawa told a press conference he thinks exchange rates will remain stable due to the currency accord reached in paris last month by six major industrialised nations but he did not say for how long
the company also said it expects to realize a profit of about 300000 dlrs on its 25 pct interest in the briarcliff manor condominium project in new york with about 140000 dlrs of the profit being reflected in the year ending september 30
interest on all classes of bonds will be payable quarterly
allis chalmers in a statement said it planned to continue payments to its vendors in the ordinary course of business while the restructuring is being negotiated
wilson gomes de moura president of the national confederation which groups the bank employees 152 unions representing 700000 workers told the indefinite stoppage would affect all banks
ina also has joint ventures and co production projects involving yugoslavias other main producer naftagas of novi sad with partners in angola algeria and tunisia exploring for and exploiting oil and natural gas
agency officials said public spending would have risen 11 pct in oct dec without the issue which marked 60 years of emperor hirohitos reign
banner also said it received 310 mln dlrs pursuant to a credit agreement with citicorp industrial credit inc and the bank of nova scotia and 260 mln dlrs from an offering made through drexel burnham lambert inc
pop radio popx gets rite aid rad 
its in the group of sevens interest to calm things down said douglas madison corporate trader at bankamerica corp
it said the issue will be the first such bond issue in hong kong by a local organisation but gave no more details
but another arbitrageur said the hafts present bid seemed quite fair he said the offer amounts to 10 times after tax cash flow which is probably fully priced
standard pacific spf acquires south bay s l
gold reserves were unchanged from aprils 2848 mln crowns and also unchanged from the year ago figure
it said the rights expire july three 1987 or 60 days after they become exercisable if later than that date
falcon cable systems fal 4th qtr loss
louis washington dc and san francisco
hcc industries hcci quarterly dividend
in 1987 a total manufacturing activities will generate about 235 mln dlrs in revenues and engineering and construction about 200 mln dlrs he said adding that defense products operations should be a major contributor to earnings
qtly div 45 cts vs 45 cts prior pay april 30 record april 10
his remarks were made at the national petroleum refiners association
oper shr 118 dlrs vs 58 cts oper net 2266000 vs 1037000 revs 458 mln vs 414 mln avg shrs 1924000 vs 1800000 note excludes gain of 73000 dlrs vs 290000 dlrs from benefit of tax loss carryforward
the japanese delegation to the gatt talks said in a statement yesterday they are making major efforts to dismantle trade barriers in their country
grade mar 27 mar 20 feb 27 attaka 1923 1924 1672 arab light 1800 1810 1555 oman 1821 1825 1631 dubai 1809 1821 1586 arab heavy 1663 1673 1424
it quoted the ministry of light industry as blaming the drop in output on unreasonable state purchasing prices for cane and beet as against other crops which has resulted in farmers refusing to grow them
the 1985 net profit was 272 billion
the company said qintexs us subsidiary also agreed to supply a minimum 70 mln dlrs line of credit to the new company which shall be used with qintex approval for financing new hri products
shell uk ltds pre tax profit on exploration and production operations fell to 869 mln stg in 1986 from 212 billion in 1985 due to the fall in oil prices last year shell uk finance director nigel haslam said
however the study said that primary production likely to reach 10000 tonnes this year against a provisional 9950 in 1986 is relatively insensitive to price falls
he said the debate on dedramatising ems realignments reflected a general feeling among participants that the way the january reshuffle had been conducted was unsatisfactory
it wil be back on the table again and again the diplomat said
this was after taking into account inflation in consumer prices of 15 pct in 1985 slowing to 10 pct in 1986
the esso proposal to purchase all the delhi interest will be more beneficial to our shareholders than proceeding with the float csr chief executive bryan kelman said in the statement
energas co said it has agreed in principle to purchase western kentucky gas co from texas american energy corp for 615 mln dlrs in cash plus assumptrion of certain liabilities
rambaud said he forecast a 1987 parent company net profit before provisions of around 135 mln francs
ford f shares rise on higher earning estimate
to stabilize supply demand relations which have been disrupted by excess inventories since 1985 will take some time he also said that us firms had not been aggressive enough in trying to sell in the japanese market
us shoe inc 4th qtr shr 31 cts vs 56 cts
qtly div 75 cts vs 75 cts prior pay may 19 record april 24
genentech sets 100 mln dlrs of convertible bonds
both hale and macomson make fire pumps and related equipment
the us treasury said its auction of 976 billion dlrs of 52 week bills produced an average rate of 592 pct
the merger following the tender offer will be subject to approval by argosystems shareholders the companies said
killian said the nikkei contract has considerable potential for expansion as overseas investors have been avoiding the contract because they currently see no need to hedge the rising cash market in tokyo
on tuesday hundreds of thousands of farmers held rallies throughout the country to protest against high interest rates
the agreed cut in farm programs is a compromise between 14 billion sought by the senate and one billion by the house
the bank of japan will sell 300 billion yen of government financing bills tomorrow under a 29 day repurchase accord maturing april 24 to soak up a projected money market surplus market sources said
he said it was too soon to estimate the financial value of the two ventures
standard and poors corp said it raised to a minus from bbb plus hechinger cos 199 mln dlrs of industrial revenue bonds
the buying began when the dollar was at about 14960 yen and helped drive the us currency up to around 150 he said
businessman has 89 pct of del e
general host corp said it will report a loss from continuing operations and a sharp decline in net income for the year ended january 25 1987 due to substantial operating losses in its franks nursery and crafts unit
the government also announced it will provide up to 13 mln dlrs in loan insurance to help versatile prepare for the construction of the vessel
the reserves comprise 1640779 tons proven reserves grading an average of 0163 ounces of gold a ton and 3262161 tons probable reserves grading an average of 0127 ounces of gold a ton
mannville oil and gas ltd mogto 1st qtr net
lawrence inc referring to both brazil and citicorp
mdc asset investors mir in initial payout
suffield said it still needs the approval of the superintendent of maines banking department
6 pct stake in american medical and the company has previously said the investors support managements internal plan to improve the companys performance
gasoline demand averaged 660 mln bpd up 24 pct from 644 mln last year while residual fuel demand was 147 mln bpd up 19 pct from 144 mln the eia said
the state statistics bureau spokesman also said chinas 1987 cotton output was expected to rise 10 pct over 1986 to 390 mln tonnes
first federal charleston ffch names new ceo
the company said it is increasing medium and heavy fuel oil postings by one dlr a barrel
the petitioners also noted that no similar regulation exists for poultry products
herrington said he had always advocated a greater fill rate for the petroleum reserve but the rate had been kept down because of budgetary constraints
last week it sold 455000 comdata shares
he said in a statement the oil industry already pays an effective lower rate of us tax on investment 15 pct versus aggregate corporate tax on all investment of 34 pct according to a recent congressional research service study
another uk merchant bank analyst noted that the current vogue for eurosterling enabled several corporate borrowers last month to offer paper priced below comparative gilt yields
shr 54 cts vs 47 cts net 11 mln vs 941000 revs 89 mln vs 103 mln year shr 165 dlrs vs 164 dlrs net 33 mln vs 33 mln revs 374 mln vs 390 mln
an external appraisal of the groups investment properties was carried out last year which found their gross value to be 8513 mln stg as at dec 31
tandem computers tndm sees higher net
mannesmann is also purchasing a 2501 pct stake in fichtel und sachs from commerzbank ag cbkgf and has an option to buy the banks remaining 10 pct stake a company statement said
yugoslavian steel output will rise by one mln tonnes to 63 mln tonnes a year between 1986 and 1990 under a development program adopted by the yugoslav iron and steel metallurgy association the official tanjug news agency said
taiwans surplus with the us hit a record 136 billion us dlrs in 1986
the target zone would not affect our market i think at all a 10 pct range in the deutsche mark gives us a healthy market melamed told in an interview
mickelberry corp mbc 4th qtr net
michael foods inc initial public offering of two mln shares of common stock at an estimated 13 to 15 dlrs a share through an underwriting group led by william blair and co
duff and phelps said it lowered its rating on delmarva power and light co first mortgage bonds to dp 3 middle aa from dp 2 high aa and on preferred stock to dp 4 low aa from dp 3 affecting approximately 646 mln dlrs in debt securities
he said stocks were about normal at 90000 tonnes
the bass group which did not identify any of the other people with whom it said it has had talks said it plans to continue evaluating taft and will be involved in further discussions relating to the future control and direction of the company
a military spokesman told the iraqi news agency ina the latest attack was at 1250 gmt
after the fed declined to assign a 1987 target growth range to the wayward m 1 money supply measure last week little attention was paid to a steeper than anticipated 21 billion dlr jump in the week ended february 16
the gte deal is ubss first this year and the fourth since it won a competitive bidding in june 1986
north american communications corp said it is considering several options to maximize shareholder value including a possible sale merger corporate restructuring or leveraged buyout
final crop estimates for 1986 87 and planting intentions for 1987 88 are not yet available
the offer was made to kuwait in light of irans deployment of chinese built missiles to cover the entrance to the gulf
they are worried that it might take a long time to persuade the other banks to join the deal
diplomat electronics dpec to cut costs
giant bay gbylf details gordon lake deposit
a major animal feed producer cehave nv veghel chv has begun legal proceedings against the application of the european community grain co responsibility levy with the full backing of the dutch animal grain and feed trade association het comite association chief executive peter pex told 
binks mfg co bin regular dividend set
provisional consolidated net attributable profit 2421 mln francs vs 2401 mln
meinhardt said without the sharp appreciation of the mark against major trading partner currencies incoming orders would have been four pct above the prior years level
alan powers chief of the minerals maanagement service for the department said the delay is to have more time to study the effects of drilling noise on whale migrations
australian wheat area to fall forecaster says
the sugar is being sought for early arrival and will probably be met with april may shipment sugar they added
two years ago i began to seek my own farmland in japan said isao nakamura president of higashi nippon
the five year deal is priced at par
analysts also noted that part of the increase in the hog herd resulted from a revision of the december report and without the revision the march report might have been very close to average expectations
emery said it would operate purolator as a subsidiary if it succeeded in the takever but would integrate its air hub
japan to revise long term energy demand downwards
however the nominal trade surplus would show little change from 1986s record 1122 billion marks because of a further improvement in the terms of trade on average in 1987 compared with 1986 it said
the quake which in colombia measured between 65 and seven on the 12 point international mercalli scale caused panic among residents but no injuries were reported
finance minister kiichi miyazawa said japan has no plans to take new emergency measures to support the dollar other than foreign exchange intervention
diamond shamrock raises crude posted prices one dlr effective march 4 wti now 1700 dlrs bbl
but poehl played down the risk of inflation
finns and canadians to study mtbe production plant
partly offsetting these outflows exchequer transactions and a fall in note circulation will add some 300 mln stg and 40 mln stg to the system respectively
european sugar output on the basis of three year average yields will be over half a mln tonnes white value down on last year although yields do vary widely from year to year broker c czarnikow said in its market review
the hole is 460 feet east of the previously reported first hole
the financing will be in dollars and marks although mark borrowings cannot exceed 50 pct of the facility
five barges each week april midmississippi river dubuque south traded at yesterdays bid of 170 pct
libya was also a buyer this week taking two cargoes of whites which for an undisclosed shipment period were reported priced around 229 230 dlrs a tonne cost and freight they added
bilzerian said it was his understanding that the management particpation was nominal pay n pak fell 1 1 2 to 19
under the current system investors must also pay 06 pct of face value as brokerage fee to securities houses for transactions involving principal over 30 mln yen
a plan by european producers to sell 854000 tonnes of sugar to european community intervention stocks still stands andrea minguzzi an official at french sugar producer beghin say said
the company has agreed to permit the group and its potential lenders to perform a due diligence review of service america it said
excessive rains in the piura pima cotton area may reduce yields by about 20 pct due to excessive growth too early in the crop cycle
trail smelter revenue was 356 mln canadian dlrs in 1986
the company said completion of the transaction is subject to regulatory and shareholder approvals
general motors acceptance corp canada is issuing a 100 mln canadian dlr eurobond due october 15 1992 paying 8 1 2 pct and priced at 101 1 2 pct lead manager union bank of switzerland securities ltd said
shares in cable and wireless plc cawll firmed in morning trading on market speculation that its participation in a joint telecommunications venture in japan would not be curtailed dealers said
borg warner has about 856 mln common shares outstanding
treasury secretary james baker said the administration backs the federal savings and loan insurance corp fslic recapitalization bill approved by the house banking committee and opposes the senate passed version
canada february trade surplus 12 billion dlrs
the company declined to discuss the reason for the change in accounts nor would it dislose its advertising expenditures for the brand
it said the loan consists of a credit line to ljubljanska banka ljubljana lbl to finance a project expected to improve industrial competitiveness and reduce energy imports easing the countrys current balance of payments difficulties
copper industry delegates told the lme a decision to change the planned clearing system would indicate a fundamental change in the function of the lme and in its service to the industry the release said
the sources said that a commitment fee of 20 basis points will be payable on the available tranche with 10 basis points on unavailable amounts
actual holdings on monday were 420 billion marks
the overwhelming majority of brazils seamen remained on strike
indonesia has imported palm oil this year and is likely to take more trade sources said
in the case of corn they said the loss can be filled by production from non traditional corn farms which diversified into the cash crop from sugar two years ago
this was the highest positive balance since the question was first asked more than 10 years ago the cbi said
but the seven seem to accept their commitment to stable currencies applied to todays exchange rates and not those at the time of the paris agreement when the dollar stood higher
the key to a solution in this area seems to me not in the framing of the gatt general agreement on tariffs and trade wording but in tackling government subsidies to farmers on both sides of the atlantic he said
he said the government could at least fix a suitable limit on the funds to be raised through such bonds by the public sector merchant bankers said the government is pressing state companies to borrow from the public by reducing financial support to them
i believe the entire chemical industry is headed for a record year or close to it oreffice said
minstar inc said it sold all 10 mln of its borg warner shares
tokyo bundesbanks schlesinger sees no reason to lower interest rates
restrictions on buffer stock purchases of non member cocoa might lead to a supply overhang in malaysian cocoa which would depress prices they added
but they said the question was whether iran would consider the matter closed
computer products cprd to sell convertibles
although it is still early to assess the coarse grain outlook the iwc said barley acreage is likely to fall in the european community but increase in canada
paul cain a vice president at shearson lehman brothers said the elimination of price limits will cut back on panic buying or selling and contribute to more orderly markets
total 1985 turnover was 42 billion guilders
dutch chemical group akzo nv akzoas said it agreed to take over household product subsidiaries of french group rhone poulenc rhonpa for an undisclosed sum
part cargo 59000 tons dirty april 16 caribbean to us atlantic coast us gulf rate not reported
temperton noted that a particular focus of bank worry in that period had been the behaviour of uk asset markets
pc quote inc pcqt year loss
he could have added that any proposal that might be construed as a bail out of us banks would be a non starter in congress
indonesia rejects world bank farm reform ideas
allied signal inc said it completed the sale of its mpb corp unit to bearing acquisition corp for 145 mln dlrs plus assumption of certain mpb liabilities
the wheat price in karachi the most expensive pakistani city had dropped from 311 rupees per kilo on march 1 to 285 rupees on march 30
in a compromise with coal producers the bill requires new baseload electric powerplants be designed to accomodate modifications necessary to burning coal or another alternate fuel
ivey properties inc said it raised its quarterly dividend to 18 cts a share from 14 cts and declared both an extra dividend of 27 cts a share and a 50 pct stock dividend
durkin was re elected to the board the company said
he added a planned reform of the fiscal system scheduled for 1990 which was worked out by coalition partners this month was an important step in the right direction the government plans to cut corporation tax to 50 pct from 56 pct
drought cut the 1986 harvest to 358 mln tonnes from 407 mln in 1985
the fund is designed to help boost job creation and improve worker mobility and supplement national schemes in the ecs 12 member states
other creditors generally all want to make sure that something they might be able to get a piece of is not being sold out from under them said analyst gobert
maytag myg sees capital spending up in 1987
the february total included 19102 tonnes from the us against 16577 in january and 9933 a year ago 24391 from australia against 19585 and 21208 and 12611 from indonesia against 5891 and 16601
but he told after a speech to educators that it was in the interest of us banks to complete debt financing plans soon with brazil and other debtor nations
under the agreement genova said each of its shareholders will receive 5375 dlrs per share in cash
also venezuela will sell the crude and provide the foreign exchange earnings to ecuador he said
financial analysts see little chance that us interest rate futures will break out of their narrow ranges and low volatility during the remainder of the week
chrysler corps 15 billion dlr bid to takeover american motors corp amo should help bolster the small automakers sales but it leaves the future of its 19000 employees in doubt industry analysts say
in the first two months of this year prices rose by around 30 per cent
german 1988 tax cuts raised by 52 billion marks
the issue is guaranteed by france and will have a 50 mln ecu tap exercisable for six months
south central bell telephone co a unit of bellsouth corp blsn placed the order with plesseys us subsidiary stromberg carlson most of the equipment for the 100 exchanges will be built in stromberg carlsons florida plant over the next three years
they had hoped that new vitality in the industrial countries brought on by a sharp decline in oil prices would assist their economic recovery and help them cope with growing mounds of debt
us certified coffee stocks down in latest week
the new zealand government will sell 25 pct of state owned air new zealand ltd to the public civil aviation minister richard prebble said
gte corp filed with the securities and exchange commission for a shelf offering of four mln shares of auction preferred stock on terms to be set at the time of sale
malaysian palm kernel output fell to an estimated 80500 tonnes in february from a revised 83231 originally 83700 in january and 98393 in february 1986 the palm oil registration and licensing authority said
westpac said in a statement the increase reflects high costs of funding
a ministry official attributed the decline to falling production of non metal products textiles and transportation equipment and less mining and house construction
all elements of this proposal were open to negotiation but consumers insisted they did not want a return to the ad hoc way of settling export quotas by virtual horse trading amongst producers whilst consumers waited in the corridors of the ico
australias ansett airlines will exercise an option to acquire 20 pct of america west airlines inc awalo for about 315 mln us dlrs ansett transport industries ltd managing director peter abeles said
he said cip has been using the pulp on a trial basis to make newsprint containing 90 pct kenaf fibre and 10 pct softwood fibre at its trois rivieres quebec plant
note company said the dividend would apply to shares issued under capital increases during 1986
gibraltar financial corp said its gibraltar savings unit has agreed in principle to buy first federal savings and loan of ridgecrest for about 121 mln dlrs cash
indonesia the only asian member of opec and a leading primary commodity producer has been severely hit by last years fall in world oil prices which forced it to devalue its currency by 31 pct in september
liu said the share in the joint venture of the foreign partner hong kong listed panin holdings ltd had been cut last year to 49 pct from 60 pct
jefferies and co said it is making a market in the stock of cyclops corp at 92 1 2 to 95
he said duty free import of cotton yarn was allowed to make high quality yarn available to local ancillary industries and to enable them to compete effectively in the world market
includes operations of bank of hartford acquired feb 23
report expects sharp drop in world iron imports
the bank report was especially critical of indonesias drive to plant sugar saying domestic sugar prices are double the world average because of inefficiencies and the country would save money by importing the commodity
the atpc launched a plan to limit member tin exports to 96000 tonnes for a year from march to cut the tin surplus to 50000 from 70000
bay financial corp bay 3rd qtr feb 28
the price of dome common shares fell five cts to 105 dlrs in trading on the toronto stock exchange today
only a provision directing us officials to vote disapproval cleared congress
for the paper cut moodys cited a higher risk profile inherent in the companys core business
united cities ucit privately places bonds
the budget explicitly recognises the need to draw down reserves while foreign borrowing has been ruled out
however loans for financing hong kongs visible trade fell 13 pct to 3623 billion dlrs after a 34 pct rise in the previous month
el salvador will tender october 26 for approximately 26000 tonnes soybean meal valued at up to 56 mln dlrs and about 24500 tonnes bulk corn with a value of 20 mln dlrs under pl 480 financing an agent for the country said
the official tanjug news agency quoted zemljaric as saying yugoslavia expected a definite measure of understanding from 16 western creditor countries when they meet on march 30
if the regulation is not extended beyond its april 3 expiry date many commercial banks will have to reduce foreign exchange holdings to a maximum 20 pct
jones and vining said its board believes that a transaction with vulcan would be difficult to complete but it has asked vulcan for further information to explore the bid
the companies said they expect to complete the merger which will create a bank with 80 billion dlrs of assets by the end of the second quarter
williams cos said it expected oil and fertilizer transportation volumes to be flat in 1987 but said operating profits from the pipeline unit should improve from 494 mln dlrs earned last year when a seven mln dlr special charge was incurred
in an article in mondays edition of the miami herald baker also criticised the concept of short term debt relief calling it a dramatic overnight solution while these ideas may be well intentioned and have some political appeal they are impractical and counterproductive in the long run he said
harkin made the following claims in testimony on his family farm act the mandatory control bill would increase farm income and reduce government spending on agriculture
whether the european communitys council of ministers will approve a proposed tax on vegetable oils that has sparked threats of us retaliation is uncertain an ec official said
the april 9 sale will pay down about 25 mln dlrs as 9763 billion dlrs in bills are maturing
secretary of state for the economy guillermo de la dehesa told in a recent interview the reduction in fixed asset investments would offset losses from the rate liberalisation
gencorps stock rose 15 3 4 to 106 1 4 in heavy trading
shr 90 cts vs 84 cts net 1855 mln vs 1715 mln revs 108 billion vs 107 billion nine mths shr 185 dlrs vs 190 dlrs net 3789 mln vs 3895 mln revs 267 billion vs 269 billion 12 mths shr 215 dlrs vs 187 dlrs net 4407 mln vs 3820 mln revs 347 billion vs 347 billion
william reynolds gencorp chairman said the sale of general tire represents a critical accomplishment in our plan to restructure gencorp reynolds also said gencorps previously announced sale of its other businesses are proceeding satisfactorily among the pieces of gencorps empire that remain to be sold are its rko bottling operations
mmtcs recent global tenders now include a clause that preference will be given to parties who accept payment in kind for goods and services sold to india a trade official said adding that the policy remains flexible
bank of france buys dollars sells yen dealers
qtly div 30 cts vs 30 cts previously pay may 11 record april nine
usda personnel in the corn belt states of iowa illinois and indiana have been reporting heavy signup activity an ascs official told 
the official said orion would redeploy the three traders who had been in the frn sector mostly to their euro commercial paper operation an area the bank believes has a greater growth potential
xuto told the conference both the 1979 agreement and its successor were aimed at meeting the needs of producers and consumers of natural rubber over the long term
the commerce department would like to have the law changed to permit it to report both sets of figures simultaneously
pcri based in dublin california has a biotechnology research laboratory
so far this year distillate demand fell 23 pct to 320 mln bpd from 328 mln in 1986 gasoline demand was 663 mln bpd off 03 pct from 665 mln and residual fuel demand fell 49 pct to 135 mln bpd from 142 mln the eia said
in that case we will ask them what they are doing to reduce the figure miti earlier asked makers to cut output of certain chips by 10 pct in first quarter 1987 spokesmen for the firms said
violators would be severely punished according to the price freeze order signed by five cabinet ministers
the australian government will likely reimburse the australian wheat board awb about 132 mln us dlrs to pay wheat farmers for their 1986 87 crop the us agriculture department said
gros defended brazils recent economic record noting inflation slowed in february the trade surplus rose and the public sector budget was in operational surplus
among the credit categories auto credit rose in february by 717 mln dlrs after increasing 416 mln dlrs in january the fed said
lower us soybean loan idea sharply criticized
bank okla
today it was first indicated at 8 1 8 1 4 before easing on news of the tender to 7 13 16 7 8 pct
most analysts said fujitsu was likely to go the more costly route of expanding its own production and distribution facilities in the us although some said it could use the estimated 200 mln dlrs set aside for buying fairchild to try to acquire some less politically symbolic firm
the sale is subject to regulatory approvals
the dollar was quoted at around 18040 marks shortly after midday in nervous but quiet trading up from its 17975 85 opening
rimmer de vries senior vice president of morgan guaranty trust co said the us trade deficit problem is a problem of lagging growth in industrial economies prolonged currency misalignment debt problems of the developing countries and unbalanced growth in the asian industrializing countries
security pacific spc unit offers certificates
the spokesman said jefferies had cooperated with the agency and had heard nothing more since that time
despite the fact that stocks are a half mln tonnes over target the surplus will not be exported at present he said
shr loss six cts vs profit one ct net loss 536000 vs profit 166000 revs 2099000 vs 3149000 avg shrs 10429000 vs 9943000 nine mths shre loss nine cts vs loss five cts net loss 790000 vs loss 377000 revs 7089000 vs 7646000 avg shrs 10406000 vs 9351000 note full name newport pharmaceuticals international inc
us cotton farmers are likely to plant about 106 mln acres in the coming season based on an average of estimates offered by cotton market analysts gearing up for the us agriculture departments 1987 planting intentions report next tuesday
the unfiltered index rose 08 pct in the month a turnaround from the 03 pct decline in november the federal agency said
world bank chief pledges support to indonesia
macandrews forbes begins revlon rev offer
shr 49 cts vs five cts shr diluted 45 cts vs five cts net 651000 vs 95000 revs not given 1st half shr 57 cts vs one ct shr diluted 53 cts vs one ct net 781000 vs 56000 revs not given note current year net both periods includes gain 873000 dlrs from repurchase of securities
richard gluch jr resigned from the board
non callable for two years the issue is rated ba 3 by moodys investors service inc and bb minus by standard and poors corp
contacted after the dollars steep drop in the last two business days the economists reaffirmed this view but stressed the risk is that the dollar will fall more rather than less than they expect
diamond star motors corp the joint venture company owned by chrysler corp c and mitsubishi motors named additional production suppliers for the new vehicle to be produced at the companys plant under construction in bloomington ill
enka will supply know how on the production of non woven fibres and basf will also purchase the right for production and sale of the colback products
should the skepticism about our ability to resist inflation be reinforced by bad policy the consequences for interest rates for exchange rates and for the economy generally would clearly be undesirable recognition of that danger neccesarily must weigh heavily in the formation of monetary policy the fed chairman said
however stocks were well below the 282 mln held at the end of january
syndication is proceeding and managers and participants are being invited to participate at four levels with management fees ranging from 15 to 30 basis points it said
dome announced its plan to 56 major creditors as well as public noteholders in march after several months of delicate negotiations
japan is expected to send a high level official to washington early next month to try to convince the us not to go ahead with the tariffs on april 17
foreign creditors may get permission to convert loan balances and short term claims into equity investments in south africa
conger said exploration for precious metals may be slightly higher than last years spending of 177 mln dlrs while oil and gas exploration spending will be slightly less than last years 96 pct
barker and co jmr barker foundation quaker hill associates lp upland associates lp and james m
they also agreed in principle on a recommendation for citizens to buy and own shares of gcc shareholding firms
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
camdessus said he wished his visit could have been in more pleasant circumstances in remarks reported by the official ivorian daily fraternite matin
average lives for two floating rate classes are 236 and 1127 years for maturities of 2011 and 2016
throughout the g 7 meeting japan pointed to the dangers that would arise from a further dollar fall because it would reduce the flow of japanese capital to the us hurting the us and world economies they said
we do not understand why the g 7 approved present rates as the yen has risen excessively since the paris accord ishihara said
cominco cltto sees meeting with striking union locals
a ministry official said it verified through sampling that reflow was fairly small
there is no consensus but asked if he was optimistic on agreement for a new debt repayment plan stals replied yes in a telephone interview from his pretoria office
catell and kenneth f
shr 45 cts vs 58 cts net 11 mln vs 829000 sales 79 mln vs 94 mln avg shrs 2332397 vs 1428000 year shr 122 dlrs vs 106 dlrs net 29 mln vs 15 mln sales 257 mln vs 222 mln avg shrs 2332397 vs 1428000
the company said this brings to 57 the number of bank branch which are part of the nationwide network an alliance of 40 independent locally managed financial institutions locations in florida
indeed the bank and the gilts dealers are believed to be disappointed that the treasury has not agreed to go along with the plan
willcox and gibbs inc wg 4th qtr net
other bankers who declined to be identified said other groups of banks particularly those in switzerland france and canada were equally reluctant to sign although they had not sent any telex to citibank which chairs mexicos 13 bank advisory group
macandrews said it increased its offer to purchase all revlon common shares to 2010 dlrs a share from its april 1 offer of 1850 dlrs a share
jannock ltd said its jannock imaging co ltd unit acquired a 50 pct stake in arthurs jones lithographing ltd of toronto for undisclosed terms
oper shr 35 cts vs 29 cts oper net 1185267 vs 1001315 sales 168 mln vs 124 mln six mths oper shr 42 cts vs 32 cts oper net 1420815 vs 1105555 note oper data does not include year ago qtr and six mths loss from discontinued operations of 87449 dlrs or two cts per shr
the paris based intergovernmental council of copper exporting countries cipec is closely studying the current backwardation in world copper market prices but does not envisage taking corrective action at present cipec sources here said
armtek spokesman john sievers said s and a is a 50 mln dlr business
shr profit 15 cts vs profit 15 cts net profit 1025000 vs profit 969000 revs 109 mln vs 78 mln 12 mths shr profit 33 cts vs loss one cts net profit 2375000 vs profit 90000 revs 382 mln vs 203 mln note revenues figure shows contract revenue not gross contracts written
the company said the increase reflects current market conditions
grumman corp said it was awarded a 28 mln dlr contract by mcdonnell douglas corp md to develop flight control surfaces for the united states air forces new c 17 transport aircraft
the restrictions are a bureaucratic imposition and skirt around the real issue he said
morrison inc a diversified food service company said it acquired custom management corp based in kingston penn for an undisclosed amount
koninklijke nederlandsche hoogovens en staalfabrieken nv said it expected a clear loss for 1987
they said mexicos new debt package last october marked a 1 16 point drop from its 1985 debt agreement while manilas new pact slashed its 1985 agreement by up to 3 4 percentage points
venezuelas rapid agreement with its creditors soon after brazils move had been seen by the political opposition as a betrayal of debtor solidarity but de abreu praised the venezuelan negotiators for achieving a favourable deal
great country bank gcbk 3rd qtr net
he told a news conference that business during the year had weakened somewhat but was still generally positive
given the system of floating exchange rates it was necessary for central banks to agree to intervene
kaneb energy kep says jury rules for it
the acquisition is part of mannesmanns efforts to diversify into high technology areas and away from its previous reliance on steel and pipe making
a further 550 mln rand will be borrowed from a blocked account administered by the south african government for the eventual repayment of about 13 billion rand in short term loans
most of taiwans wheat imports come from the us the spokesman said
president reagan said on sunday he had already made a decision on the us response to fridays iran attack but would not say what the decision was
one analyst said he believes it has a breakup value of 160 to 165 dlrs per share
sudan boosts budget cash for debt servicing
it said the acquisition will enable all of frontiers medical malpractice coverage to be serviced internally
but in 1985 86 the soviet union bought 299 mln tonnes of grain and turned to the us for only 24 pct of that total
it raised the preferred stock to aa minus from a plus and preference stock to a plus from a and affirmed iowa illinois aa senior debt aa minus subordinated debt and a 1 plus commercial paper
before the year is out we will see higher oil prices he noted that belief that the government is interested in raising the strategic reserves is factored into the rise in oil stocks today
sibson said he expects the tighter entrance requirements to pare 3he current list of 67 members down by six to 10 members
townsend thoresen operate two other ships identical to the herald of free enterprise but brabazon said it was not planned to pull them out of service at present
year 1986 consolidated net profit 67 mln swiss francs vs 42 mln
cathode inventories at rod mills fell to 86456000 lbs in january from 124409000 lbs in december while wirebar stocks were lower at 3508000 lbs versus 4913000 lbs in december
qintex said it is extending the offer to allow princeville shareholders to assess the sale announced last week of princeville airways inc to aloha inc alo adding a supplement to the quintex offer further detailing the agreement with aloha will be distributed later today
countrywide credit industries inc said its board declared an eight ct per share quarterly dividend up from seven cts last quarter and a two pct stock dividend
residential mortgage investments incs mortgage acceptance inc unit said it is offering a 543 mln dlrs collaterized mortgage obligation using mortgage pass through certificates evidencing undivided interests in pools of conventional mortgage loans on single family residential properties as collateral
the maize harvest advanced to within 26 to 28 pct of the area sown in cordoba santa fe and northern buenos aires
butler btlr to purchase naturalite
dutch grain levy test case to start in april
despite this disclaimer if we identify a major acquisition that has significnt value creating for westinghouse we will consider it he said the company would consider an acquisition candidate that is in an area compatable with westinghouses primiary businesses
fed says it sets 15 billion dlrs of customer repurchase agreements
we do not seek further confrontation with iran but we will be prepared to meet any escalation of military actions by iran with stronger countermeasures weinberger said
grain consumption is rising every year
shr 66 cts vs 67 cts net 48700000 vs 49300000 sales 9610 mln vs 8706 mln avg shrs 74123837 vs 73374398
renewal of the khj tv license has been challenged in regulatory proceedings for more than 20 years
the group said japan fund has not responded to its offer worth about 525 mln dlrs at current market prices
gary miller chief financial officer of afg said his company has a record of acquiring mature businesses and boosting productivity
morgan all of dallas for warrants to acquire 101 mln shares of jm stock and three mln dlrs of notes
but the dollar then fell on speculative selling by trading houses they said
the ico executive board will meet march 31 but the full council is not due to meet again until september delegates said
the trade group said japan has not lived up to the terms of the agreement last year which was aimed at ending japanese dumping of semiconductors and at opening japanese markets to foreign based manufacturers
the travelers corps travelers mortgage services said it signed a letter of intent to buy two subsidiaries of the privately held equitable life assurance society of the us the company said it plans to acquire the equitable relocation management corp and the equitable realty network inc
however the intervention failed to boost the us currency significantly from the 14220 yen level they added
terms were not disclosed
net loss industrial vehicles 990 mln vs loss 154 billion
rospatch to respond to diagnostic bid
banknotes in circulation rose by 834 mln francs to 2479 billion while other deposits on call mainly government funds fell 160 billion francs to 104 billion
sri lanka is seeking a total of about 240 mln dlrs in structural adjustment loans to support the balance of payments and in a compensatory financing facility to offset losses in commodity exports
in january 1987 the government was more than two months in arrears in paying foreign currency to successful bidders and the auction was suspended and replaced with a fixed exchange rate of nine kwacha to the dollar
nippon columbias share price fell 20 to 1260 yen on the tokyo stock exchange today
the meeting had been arranged last week the spokesman said
harris teeter properties htp reports earnings
frontier insurance frtr in acquisition talks
the sales though were inappropriate in the light of mitis advice to semiconductor makers to sell chips at well above production costs to avoid any hint of dumping he said
the company said the acquisition of the portion of the shares over a five pct interest is subject to approval by the alabama department of insurance
it said reebok filed a registration statement with the securities and exchange commission for the offering of six mln shares of reebok common
it is important that the agriculture negotiations reach a relatively early conclusion because the us is spending 26 billion dlrs a year and the european community probably more than that which is an ineffective use of financial resources he said
the association also backed broad federal restrictions on a variety of tactics used in hostile corporate takeovers
martin sosnoff who has offered to buy caesars world inc for 28 dlrs a share said senior officials of the company have offered to buy back the caesars stake he already holds now 136 pct of the total outstanding
dow said it altered the increase to reflect changes in the industry over the past month
under terms of the agreement norstar would buy all 201660 shares of uniteds common stock at a rate of three norstar shares for each united share
he said in reply to inquiries that rates could rise further if money supply growth rose above this years eight pct target for m 4 defined as liquid assets in public hands
a higher fed funds rate and firm oil prices precluded the market from breaking out of the trading range the last time the market approached the top of the range singer said
the seamens leaders say their strike has halted 48 of the 72 ships belonging to the state oil company petrobras
denmarks seasonally adjusted unemployment rate rose to 79 pct of the workforce in january from 78 pct in december unchanged from january 1986 the national statistics office said
the area sown with sorghum in 1986 87 was 123 to 130 mln hectares down 103 to 152 pct on the 145 mln in 1985 86
pinola said he believes the solution to the brazilian debt crisis will be more political than economic which he said he finds very disquieting and discomforting
in addition to the 50 year credit the indian government and participating states will provide 43 mln dlrs to the plan
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum
the combination of higher debt levels and ongoing stock repurchases about 12 mln shares in the past two years financed mainly with debt bring debt leverage to 48 pct as of december 31 1986 from 30 pct the year earlier
iis intelligent iislf in textron txt deal
the number of platinum items marked fell 125 pct to 1785 while in weight terms the total slipped 81 pct to 9849 grams
worldwide rig utilization rose by 12 pct to 577 pct reflecting a net increase of eight working rigs
bnl announces net 1986 profits in bank sector
period ended jan 31 net loss 89255 vs loss 277536 sales 913136 vs 854194 six mths net profit 481372 vs loss 555722 sales 1845532 vs 1754076
the central bank said m 2 rose 17 pct to an estimated 6865 billion baht in january after a 24 pct increase in december while year on year it expanded 133 pct after a 126 pct rise in december
the budget is invariably too optimistic on expenditure said standard bank ltd in a budget preview
uk money market given further 485 mln stg help
final terms set on atari corp convertible eurobond
figures for 1986 87 are midpoint of usda range
the us treasury said it will sell 975 billion dlrs of one year bills at auction
uspci vice president of finance larry shelton said he could not comment on the adequacy of the offer or on when the board would meet to consider it
production dropped five pct to 25876 cars from 27381
taiwan industrial output falls currency blamed
showa aluminium corp is issuing a 100 mln dlr equity warrant eurobond due april 23 1992 paying an indicated coupon of 2 1 8 pct and priced at par lead manager nomura international ltd said
the usdas forecast of an 1165 mln tonne maize crop in 1987 88 against 1148 mln in 1986 87 while again premature was not out of line with estimates of the french maize producers association agpm an agpm official said
total deposits rose to 1718 billion nz dlrs in january compared with 1674 billion in december and 1316 billion in january 1986
january housing sales drop realty group says
weightings would range from a zero rating for no risk assets to 100 pct of total asset value for what authorities consider the highest risk
he said ecuador was negotiating a shipments schedule and the terms of repaying the loan
the rights expire april 9 1997
if they see they are losing money they move back into gold a dollar decline also has inflationary implications ing said adding that maison placements sees inflation rising to a four pct annual rate from the current level of about three pct
as previuosly announced fww will now proceed with the cash merger in which all shares of armel other than those held by fww or woolworth will be entitled to receive 775 dlrs per share
bundesbank board member claus koehler called on central banks of major industrialised nations to cooperate closely on exchange and interest rate policies
caesars world inc caw said its directors unanimously approved a recapitalization plan under which stockholders will get a cash distribution of 25 dlrs per share via a one time special cash dividend and will retain their common stock ownership in caesars world
sosnoff did not detail the value of the proposed compensation
uk oil industry said not permanently damaged
shr 23 cts vs 34 cts net 2091000 vs 3053000 revs 2035 mln vs 2157 mln avg shrs 8967719 vs 8863945 1st half shr 40 cts vs 69 cts net 3616000 vs 6111000 revs 4118 mln vs 4181 mln avg shrs 8958100 vs 8850656
hrs ihirf reducing stake in hal roach hrsi 
the bundesbank came into the domestic money market to add temporary liquidity through federal government funds as call money rates rose above 40 pct dealers said
net unilateral transfers during the fourth quarter last year covering foreign aid and government pensions were down to 39 billion dlrs from 42 billion dlrs in the third quarter because of fewer us government grants to mideast countries
nsa added that for shareholders with less than 600 shares it is offering to purchase their shares for cash at one dlr per share
king world productions inc said it will finance the repurchase of up to 7600000 of its shares announced earlier today through cash on hand and about 200 mln dlrs of bank borrowings for which it has received commitments from first chicago corp fnb and bank of new york bk the company today started a tender offer for up to 4100000 shares at 28 dlrs each and agreed to buy up to 3485085 more shares from members of the king family and management who together own a total of 139 mln shares
scotia mortgage corp is issuing a 100 mln canadian dlr eurobond due april 9 1992 paying 8 3 4 pct and priced at 100 3 4 pct lead manager wood gundy ltd said
chief operating officer jeffrey lane got the added previously vacant post of president
he said he shared some of the us concern about japans trade surpluses which affected european countries as well as the united states
gunnar gold inc said it and mill city gold inc signed an option and joint venture agreement with tyranex gold inc on the tyranite gold property in ontario
allied signal ald to sell electronics unit
usair asked the department of transporation earlier this month to approve a voting trust
usair said it has purchased and will pay for 93 mln shares representing about 55 pct of those tendered
roling of merrill lynch is recommending cyprus minerals co cypm in addition to phelps dodge
lyng has no comment on wheat subsidy to soviets
the offer of 13 new tesco ordinary shares for every 20 hillards ordinary shares valued each hillards ordinary share at 3055p
brooklyn union bu to buy gas from shell oil
official sources said pakistan was likely to use 34 mln bales of cotton during the current financial year ending june after 296 mln in 1985 86 and 270 mln in 1984 85
shr 61 cts vs 42 cts net 6247000 vs 5587000 rev 654 mln vs 536 mln note 1986 net includes investment gains of 25 cts a share versus six cts a share for 1985 and extraordinary gain of seven cts a share
bp australia said it had not recommended a dividend
state run tanzania railway corporation trc has secured 256 mln dlrs aid from banks and european countries for a one year emergency repair program transport minister mustafa nyanganyi said
speaking to reporters at the brazilian embassy funaro said he would not seek approval of brazils economic program outside his country but added at the same time we show credibility you the banks are going to have to trust us asked if creditor banks would accept brazils refinancing needs based on a new economic program not endorsed by the international monetary fund funaro said what other options do they have they have to try to see our program funaro who is in washington to attend the interim committee and development committee meetings of the world bank and imf said he unveiled his refinancing proposals to the major creditor banks in new york yesterday
i think the tidal wave in energy has passed over us he said
i think it is possible that there may be scope for a further reduction in interest rates in germany he added but stressed that he had had no indication that such a move was likely
optically psychologically these single figures are much more attractive for the borrower
shr profit four cts vs loss 49 cts net profit 160700 vs loss 1867100 revs 4700000 vs 5600000 year shr profit two cts vs loss 120 dlrs net profit 84400 vs loss 4507800 revs 205 mln vs 225 mln
we werent buying dollars from venezuelans thats ridiculous he said
in an effort to save the agreement miti is asking japanese chip makers to limit production in the hope that will boost domestic demand and reduce the incentive to export
guinness said earlier it would propose a resolution at the annual meeting in may to remove saunders and ward as directors of the company
the spokesman said the case would probably be heard in witbank regional court near kinross in mid may
prices rise at bangalore coffee auction
great western financial corp said it has called for redeemption a 150 mln dlr issue of 85 pct convertible subordinate debentures due 2010 on may 15
the inra originally due to expire in october 1985 was extended to october 1987 to facilitate renegotiation
one icco delegate describing the producer consumer split said consumer proposals mean buying more cocoa for less and backs the concept of the pact which is meant to support the market where trade buying is not in contrast he said producers seem to want to sell their cocoa to the buffer stock rather than consumers
chase amp bank ltd said it will lower its prime lending rate to 1775 pct from 1825 effective tomorrow
the sale of the profitable discount brokerage firm back to charles schwab was aimed at raising capital and was seen by banking analysts as a means of heading off a hostile takeover attempt by first interstate bancorp i
terms were not disclosed
it had called for substantial new commercial bank lending and development bank aid in order to help debtor countries grow out of their economic troubles
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
burnham american propoerties bapyzo 2nd qtr
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 2750 head of dairy cattle to the canary islands the us agriculture department said
uniforce temporary unfr sets split
the first step after deciding the most effective way to proceed would be to get architectural and engineering drawings he said
emery said as a result it is renewing its request that purolatr enter into merger negotiations with it
net in nine mths included non operating costs of 12 mln in nine mths 1987 vs income of 84 mln in nine mths 1986
swedish sources said major paper mill projects and an aviation agreement would be discussed during carlssons one week visit
the rescheduling of nigerias official debts was one of the demands required under a rescheduling of part of the countrys estimated 19 billion dlrs of commercial bank debt for which agreement also was reached in december between nigeria and a steering committee representing the commercial banks
i dont think they ever will he pointed out that banks would swap their third world loans for capital in the megabank and might then be reluctant to provide new money to debtors through the new institution
earlier the company reported 1986 net earnings of 154 mln dlrs or 151 dlrs a share versus 135 mln dlrs or 132 dlrs a share in 1985
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 bank stepped into the market amid selling pressure from interbank dealers dealers said
meridian energy inc and castone development corp a privately held company jointly announced that they have decided to terminate the letter of intent under which meridian would have acquired castone
i would be pleased with additional support with 25 pct of the worlds total banking assets japan could do more to help assist indebted third world countries develop roads bridges and other infrastructure he said
shr 445 dlrs vs 344 dlrs shr diluted 430 dlrs vs 334 dlrs net 4235 mln vs 3191 mln sales 334 billion vs 297 billion avg shrs 951 mln vs 926 mln note us funds
dealers said they expected the pound to hold quietly steady for the next few days while the market awaits further developments on the dollar and this thursdays uk current account figures for february
the rains over the weekend and up to yesterday registered more than 200 mm on average in western buenos aires and worsened the flooding in various parts of the province
colombia to maintain foreign borrowing levels
on march 4 another purolator shareholder rodney shields filed a class action suit on behalf of the companys shareholders charging the company and its board with breaching their fiduciary duty by failing to take steps to ensure that shareholders got the highest possible price in the buyout
us processors are now finding domestic livestock feed demand is very light for this time of year due to the milder than normal winter so they steadily dropped offering prices in an attempt to find buying interest soyproduct dealers said
the first 500000 dlr payment is due 30 days after the products are approved by the food and drug administration
the three more positive institutes saw private consumption rising by four pct in 1987 compared with 42 pct in 1986 while diw and ifo predicted a three pct increase
rpt opposition to ec oils tax intact minister
last week williams reported that pretax profits for 1986 rose to 229 mln stg from 63 mln
commission would have been passed along to customers who did place orders via the primary dealers making it less expensive to buy through them than to go directly to the bank
the company said sales commitments on hand are about 50 pct above those of a year ago but system sales revenues are recognized at shipment and only 30 to 40 pct of sales commitments in hand will ship during the period
however the figures exclude exchanges with the eastern bloc paid in non convertible indian rupees the sources said
foster a diversified international concern with 27 subsidiaries operating worldwide is based in livingston new jersey
us japan not in trade war yeutter says
diesel would rise by 75 pct
exports dropped to 1066 billion crowns last month compared with 1111 billion in january and 1085 billion in february 1986 it added
the stock split elcor said will paid in the form of a 100 pct stock dividend on may 28 to shareholders of record may 14
the us supreme court decided in mid 1985 to permit the mergers
qatar is said to be achieving sales of around 350000 bpd against its opec assigned quota of 299000 by discounting up to 20 cents a barrel from official prices the sources said
under the plan it also said 40 pct of its shares will be controlled by its employees management and its financial adviser first boston corp fbc
they declined to comment on other decisions taken
danish reserves rise 105 billion crowns in may
in 1986 it earned 148 mln dlrs on revenues of 1111 mln dlrs
the bank will be listed on the nancy stock exchange in line with the finance ministry and governments aim of a regional operation geronimus said
both dividends are payable may 8 to shareholders of record april 3
dutch chemicals group akzo nv akzoas said in its annual report it had revised its 1986 net profit figure up to 842 mln guilders from a provisional 840 mln guilders announced in january
coleman cln sees 1st qtr charge
mcintyre said it also remains contingently liable for certain obligations now totalling about seven mln dlrs which will reduce over time as smoky river continues to operate
the company also said the securities division of the minnesota department of commerce is conducting an inquiry into the companys japanese sales for fiscal 1986 and trading by insiders and brokers in the companys common shares
only six pct of the crop was planted as of last week said doug stillmann a statistician at the texas agricultural statistic service in austin a division of the us agriculture department
i think they wanted a way out
he said to the extent that fewer than 29100000 sdhares are purchased in the offer the stockholders would receive a combination of cash and series a preferred stock having a value of 32 dlrs per share of caesars sosnoff said he believes terms of his offer are superior to caesars recapitalization
us first time jobless claims rose in week
valero vlo preferred stock upgraded by s p
kawasaki steel corp kawst said its parent companys capital spending in the year from april 1 will fall to 75 billion yen from 110 billion in the current year and sumitomo metal industries ltd smitt said its capital spending will drop to 70 billion yen from 85 billion
the spokesmen said the sale results from an expected restructuring later this year of the 50 50 caterpillar mhi joint venture japanese company caterpillar mitsubishi ltd formed in 1963
note shr results after preferred dividend payments of 954000 dlrs for current qtr and 3410000 dlrs for current year
we wouldnt be able to do business said a spokesman for leading japanese electronics firm matsushita electric industrial co ltd mct if the tariffs remain in place for any length of time beyond a few months it will mean the complete erosion of exports of goods subject to tariffs to the us said tom murtha a stock analyst at the tokyo office of broker james capel and co in taiwan businessmen and officials are also worried
output is projected to rise to 50000 tonnes in 1988 from 38000 tonnes this year as young trees mature
the 1987 88 season for barley begins today
new zealand trade minister mike moore told his colleagues great progress had been made in preparing for the current round of gatt negotiations which must not be sidetracked
the company said it will convert the restaurants to pizza hut units
the shares would be offered at 205p compared with turners price which fell to 227p from last nights close at 241p
south atlantic said said its chairman and chief executive officer sheldon s
the letter of intent signed by chrysler and renault on march nine set april nine as the target date for completing negotiations
care enterprises cre 4th qtr loss
the five year non callable bullet bond is for payment on march 24 and coupon payments are annually on march 25
the aid program will inject about 350 mln dlrs a year into the oil and gas industry and could lead to more than one billion dlrs in new investment masse told a news conference
daiwa securities drexel burnham and ubs securities are co managers of the offering
but brito said that the storage capacity was badly distributed
product futures which fell sharply yesterday are due to open unchanged to 025 cent lower traders said
dairy farm said it would reduce its bank borrowings by the proceeds from the previously announced sale of its office building in sydney for 625 mln dlrs
a spokesman for the png cocoa industry board said the london market was mistaken if it linked png cocoa with high acid malaysian and indonesian beans
requiring the agriculture secretary reimburse the national corn growers association up to 500000 dlrs for the costs of defending the us feedgrains program against a canadian countervailing duty case this year
coffee prices may have to fall even lower to bring exporting and importing countries once more round the negotiating table to discuss export quotas ico delegates and traders said
the ten principal destinations during january december 1986 with comparative figures for the same period of 1985 in brackets were as follows in tonnes iran 212043 209177 holland 204558 215784 soviet union 173060 266389 egypt 163119 164252 algeria 116330 11492 south africa 105230 110064 brazil 101599 103142 cuba 89957 98740 united states 80109 44826 india 67182 17403 the board said
the failure of the international coffee organisation to agree on the reintroduction of export quotas would mean several african countries will not have the foreign exchange to import essential items he said
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 500 pct 30 69 days 592 pct 70 88 days 30 123 days 500 pct 500 pct 89 123 days 124 150 days 593 pct 593 pct 124 150 days 151 349 days 500 pct 500 pct 151 349 days 350 360 days 598 pct 598 pct 350 360 days
turkeys ambassador in athens nazmi akiman was due to meet prime minister andreas papandreou today for the greek reply to a message sent last week by turkish prime minister turgut ozal
it would take about 100 mln us dlrs to repair the pipeline the official who did not want to be named told 
the group owns 98 pct or 2180608 shares of gencorps outstanding shares
the us data due out this afternoon is expected to be weak placing the us unit under renewed pressure and robbing the market in dollar denominated eurobonds of fresh trading impetus one dollar straight trader said
final figures for the period to february 28 are expected to be published by the brazilian cocoa trade commission after carnival which ends midday on february 27
nelson designs and develops new drugs ethyl said
santa fe southern pacific corp said it filed a petition asking the us interstate commerce commission to reconsider its earlier rejection of the merger of the holding companys railroad assets
academy insurance group inc acig 4th qtr net
several bills which would establish a farm secondary market have been introduced in both the house and senate
energy secretary john herrington said he may recommend to the white house that the domestic oil industry be given tax benefits to help it produce more oil and head off increasing us dependence on foreign oil
gatt case against japan a model for us lyng
tabuchi electric co is launching 30 mln swiss francs of five year straight notes with a 4 3 4 pct coupon and par issue price lead mananger swiss bank corp said
this grade is not warranted said crowns rosenberg
the us embassy said in its annual agriculture report on indonesia there were growing signs that actual output was lower than official figures
shr 10 cts vs 10 cts net 358941 vs 299838 revs 8645289 vs 4532175 avg shrs 3446752 vs 2921173 nine mths shr 23 cts vs 12 cts net 705799 vs 491076 revs 215 mln vs 110 mln avg shrs 3093491 vs 4068000 note net includes tax credits of 164000 dlrs vs 123634 dlrs for qtr and 311000 dlrs vs 207719 dlrs for nine mths
each nation must negotiate its debt independently according to its own needs brazilian foreign minister ramiro de abreu sodre said in caracas at the weekend
in 1996 they would assess the impact of the tariff reductions and work out a new timetable for the complete elimination of all barriers to trade by the year 2000
baker urges banks to mull new loan plans
the panamanian liquified gas carrier nyhammer 48772 dwt was attacked by an iranian gunboat on may 24 lloyds shipping intelligence said
the current account showed an adjusted surplus of 61 billion francs in january last year and an unadjusted deficit of one billion
it said it acquired guard service companies csc security gaurd service of paramus nj from cartel security consultants inc the guard services division of security services of america of wayne nj capital investigations and protective agency of hackensack nj and meyer detective agency inc of national park nj the company said it bought alarm service operations certified security services inc of key west fla custom security services of myrtle beach sc a t e security group inc of houston and the louisville kent and nashville tenn offices of wells fargo alarm services
the proportion of the facility to be issued in australian dollar paper will depend on investor demand but the total outstanding value will still not exceed 200 mln us dlrs
providence energy pvy finalizes acquisition
chicago physician leroy pesch said he has had discussions with several american medical international inc shareholders and sees support for a restructuring of the company
jw mays inc mays 2nd qtr jan 31 net
franklin new york tax free income fund payout
banca cattolica del veneto spa said it had signed an accord with manufacturers hanover trust co of new york covering a 100 mln dlr certificates of deposit issue in london
net excludes extraordinary loss 38000 dlrs vs gain 1941000 dlrs in quarter and gains 162000 dlrs vs 1941000 dlrs in year
kleer vu industries to sell cosmetics unit
last year sand lost 243064 dlrs on revenues of 7012195 dlrs in the second quarter
national westminster said it was responding to general easing in money market rates
housing prices rose 04 pct in february after a 05 pct january increase largely due to a rise in fuel oil prices
unilever improves in most sectors during 1986
he repeated an earlier projection that third quarter earnings will probably be off slightly from last years 40 cts a share falling in the range of 34 cts to 36 cts a share
net profit befire minorities 810 mln vs 744 mln
he sees a 710 pct end of june yield on treasury bonds with federal funds and prime rates at 550 and seven pct respectively
this year the situation has been made worse by decembers rush to buy dollars by companies and businessmen who feared imposition of exchange controls
in remarks prepared for delivery to the senate agriculture committee brian crowley senior associate director of gao also said that a preliminary analysis of proposed changes in fmhas financial eligibility standards indicated as many as one half of fmha borrowers who received new loans from the agency in 1986 would be ineligible under the proposed system
the quake damaged 40 km of an oil pipeline forcing this opec nation to suspend crude exports for four months president febres cordero said in a statement issued today by the presidential press office
todd shipyards corp omits qtly common div sets preferred payout
exports of the same commodities fell to 135 mln tonnes from 138 mln on a fat oil basis
us payments gap to persist ex fed chief says
preliminary trade figures for february show an excess of exports over imports of 1191 mln nz dlrs a statistics department statement said
swift independent packing co said it agreed in principle to sell its huron south dakota pork plant to huron dressed beef for undisclosed terms
in addition usda cut the pacific northwest price of hard red spring wheat by 31 cents usda officials who asked not to be identified said
shr 35 cts vs 44 cts net 1311000 vs 1619000 revs 1252 mln vs 1172 mln note american building maintenance industries inc
1986 net loss includes after tax special charge of 27 mln dlrs or 20 cts a share
oper shr loss 82 cts vs profit 12 cts oper net loss 4134000 vs profit 544000 avg shrs 5030000 vs 3927000 nine mths oper shr loss 80 cts vs profit 32 cts oper net loss 3615000 vs profit 1457000 avg shrs 4557000 vs 3927000 note 1986 net excludes tax loss carryforwards of 105000 dlrs in quarter and 195000 dlrs in nine mths
mountain states adds two minerals properties
but some exporters said that while the conflict would hurt them in the long run in the short term tokyos loss might be their gain
but the drop was much smaller than expected after gulf exports rallied in the fourth week of february to 25 mln bpd from 12 mln in the third week the sources said
shell australia reports 4579 mln dlr 1986 profit
british petroleum co plc does not intend to raise the price of its planned 70 dlr per share offer for the publicly held 45 pct of standard oil co bp managing director david simon said
ormand industries omd unit to repay debt
kyushu electric power co inc will issue a seven year 20 billion euroyen bond on april 22 a company spokesman said
the bank of england said it provided 24 mln stg help to the money market in the morning session
the soviet union has added 175600 tonnes of us corn to its previous commitments for delivery in the fourth year of the us ussr grain supply agreement which began october 1 1986 the us agriculture department said
it said he intends to ask other members of senior management to participate
chases underlying profitability remains at median levels because of its high expense structure s and p said
he had said the rise was not in line with the spirit of the louvre accord aimed at stabilizing the us dollar last february
contel corp said it has agreed in principle to acquire walker county telephone co of lafayette ga for an undisclosed amount of common stock
banking sources said they expected the bank to announce it will actively take part in the interbank market and buy and sell certificates of deposit
schlumberger is expected to continue to be the dominant technical leader in the industry freedman said
us housing starts rose 26 pct in february
the discontinued units were not likely to meet the growth and profit goals of the company in the future entertainment publications said
it said hollebs 1986 sales were about 85 mln dlrs
investors have 129 pct of exovir xovr 
the price of 92 octane petrol rises to 110 sucres a us gallon from 65 sucres
they said reaan could also delay invoking sanctions for a week or two giving japan a final opportunity to end the dumping practice but added that negotiators had already held extensive talks with the japanese to no avail
the report says wheat imports are likely to fall to 15 mln tonnes in calendar 1987 from 169 mln tonnes in 1986 because of a drawdown on stocks
new measures are needed to reassure them of the consistency of government policies and make them interested in long term investment the newspaper said
malaysia welcomes accord on new rubber pact
yet you bought almost 10 per cent more from japan last year than you bought from canada he said
christopher brougham regional manager rescheduling unit at lloyds bank plc said in response to a enquiry that the six major uk clearing banks last week sent a telex to citibank saying they would contribute what was requested provided all other major lenders did the same and that the us banks contribute at least 90 pct of the amount required by them
thus while inventories could contribute to gnp in the first quarter they may result in scaled back production and weaker growth in the second he said
chrysler lamborghini still in joint venture talks
1987 nine mths results restated for pooled acquisition of bidtek inc
start up went well today and operations will continue to pick up as employees return and others are hired according to a company statement
lange would not name the forecasting groups
a study by one of the swiss banks showed that in early 1980 the first year of the tax the volume for all swiss banks fell by up to 25 pct compared with 1978 and 1979 hofer said
indonesia has undertaken reforms to meet external problems saleh said
just under 40 pct of inl is owned by news ltd an australian subsidiary of news corp ltd ncpas production and administration of the two publications would be transferred to the companys existing centre in houston
jardine declines comment on hongkong land report
the trading house officials said miti had asked them to undertake foreign exchange transactions with due consideration to the adverse effects excessive exchange rate movements would have on the economy
ocean transport and trading plc ottll year 1986
a lot of people are looking for a reason to buy currencies and sell the dollar said one trader for a large retail firm on the floor of the imm
computerland officials could not immediately be reached for comment
in the first quarter ended march 31 1986 restaurant associates reported net income of 313000 dlrs or seven cts a share on sales of 408 mln dlrs
with year end assets of 90 mln dlrs united has branches six upstate new york cities all of which will become part of norstar bank of the hudson valley na norstar is an 111 billion dlr multibank financial services company
moorhead told the rothschild officials that warburg pincus considers the offered price to be a fair one warburg pincus said
banks must repurchase securities pledged on april 22
first national bank corp to buy branch
shr four cts vs two cts net 59700 vs 27300 revs 3123900 vs 1911900 12 mths shr six cts vs nine cts net 94100 vs 81600 revs 9802000 vs 5922000 note qtr 1986 and qtr prior includes tax gain 9000 and 1900 respectively and year 1986 and year prior includes tax gain 18000 and 21000 respectively
on pro forma basis as if all acquisitions had been in place from the start of the period company earned 5704000 dlrs or four cts per share on 1400 mln shares outstanding with revenues of 8262 mln dlrs for quarter and earned 141 mln dlrs or 10 cts per share on same number of shares and revenues of 241 billion dlrs for nine mths
the most likely venue for the envisaged firm is the caribbean tax haven of the cayman islands the sources said
the new figures bring cumulative wheat exports for the period july 1 march 13 to 366 mln tonnes and barley to 350 mln compared with 147 and 209 mln tonnes respectively last season
the rights trade in tandem with rexnords common stock
there is a one pct selling concession and a 1 2 pct combined underwriting and management fee
csfb said final terms to be set around march 12 anticipate a conversion premium of 20 to 25 pct
purolators stock climbed 5 3 8 today to 40 1 8 1 4 over emerys 40 dlr per share offer
if may june registrations are opened under similar conditions as before brazil would have no difficulty in selling at least 20 mln bags per month
rowe price associates inc said the steadiness of long bond yields around 75 pct despite some signs of a stronger economy probably reflects expectations that inflation will remain subdued
it will turn out 4000 tonnes in 1987 the paper said but gave no more details
during the hiatus between the two agreements buffer stock operations will be suspended but the international natural rubber council will remain in place
gardner said he believed a better offer could be made by another entity
dollar falls below 143 yen in tokyo
the company currently has about 322 mln shares outstanding after completion of the buyback of nearly all of the 12 mln shares a spokesman said
he attributed this growth to declining electricity prices and a strong new england economy
the accounting change will not affect the companys cash position and the company intends to continue paying its dividend at the annual rate of 192 dlrs per share
payment is set for april 27 1987 and the securities will be listed on the luxembourg stock exchange
lucas industries plc lucsl said its lucas industries inc unit is issuing a 75 mln dlr convertible eurobond due april 28 2002 paying an indicated coupon of 5 1 4 to 5 1 2 pct and priced at par
kuwait had earlier declined an offer of us naval escorts as too public an admission of its need for protection they said
politically it would be totally unacceptable an aide to a senior farm state senator said
fed funds opened at 6 1 4 pct and remained at that level late this morning
stronger domestic demand growth in the major foreign industrial countries is needed to engender the much needed expansion of us export markets without having to rely on further dollar depreciation he told the futures industry association
toshiba already has a sizeable presence in the uk while other japanese companies such as nec corp nipnt has a presence in the key telephone telephone systems for businesses market
unemployment is currently at 82 pct of the workforce
permian pbt raises crude prices
the government froze salaries as part of its efforts to pull bolivia out of a deep economic crisis
ic gas said in a statement it noted the shv tender offer and the terms were being considered
offering shares to the public is an option large dealers are obviously thinking of very seriously says cole
acme precision products inc said a management group has withdrawn a six dlr per share leveraged buyout offer
the real issue is the rescheduling of debt terms
however the treasury was believed to have baulked at the request by the 27 market makers for an allotment commission which would discourage the largest institutional investors from placing orders for new stock directly through the bank of england thus denying primary dealers some of their best customers
he also said that although he was confident the bacterium salmonella eventually could be eradicated it would take time and much money to contain the growing problem
producers have so far maintained that buffer stock funds should not help mop up surplus cocoa produced in non member countries such as malaysia
oper shr loss 30 cts vs loss 127 dlrs oper net loss 8648000 vs loss 256 mln revs 274 mln vs 333 mln avg shrs 291 mln vs 201 mln note oper excludes loss on provision for discontinued operations of 971000 vs 122 mln and loss from conversion of debt 587000 vs gain of 1734000
the bank said the recipient of the 20 year loan will be oil india ltd oil which is the smaller of two public indian petroleum exploration and production companies
shr four cts vs 10 cts net 31000 vs 82000 sales 109 mln vs 9760000
itel itel gets financing for anixter buy
the company was set up last year by three major danish livestock cooperative federations to expand markets for their dairy products a mitsubishi official said
using the futures market allows better planning and forward price fixing that our industry needs chairman pat elmer said
the paper added that leaders in some areas were not paying enough attention to agriculture especially grain making it difficult to achieve the 1987 grain output target of 405 mln tonnes against 391 mln in 1986
azraai said while the growth in debt has been rapid in recent years it is still within the limits of prudence and conscious efforts have been made and will continue to be made to decelerate and restrain external borrowings he said the malaysian government is urgently addressing the twin deficits of the federal budget and the balance of payments which followed two recessions in the 1980s
oper shr 130 dlrs vs 151 dlrs oper net 406 mln vs 417 mln sales 1463 mln vs 1559 mln note 1985 excludes extraordinary loss of 745 mln dlrs or 270 dlrs per share
the finance ministry has been particularly sensitive to such criticism because it is already under mounting domestic pressure to boost an economy hard hit by the yens rise
in november 1986 revlon made an unsolicited offer for gillette shares gillette said
wardley had a tremendous year acting as financial adviser and underwriter an analyst said
woolworths ltd wlwas yr ended feb 1
final div 7p making 12p vs 10p
he said the reshadat rigs 120 miles 200 km east of bahrain in international waters were in the final stages of reconstruction after an attack by iraqi jets last year
last december the ec determined that only one us cattle one hog and one sheep slaughtering facility could be approved without further review
the csce also elected charles nastro executive vice president of shearson lehman bros as first vice chairman
no immediate plans for capital increase
painewebber group inc said it will redeem all its outstanding 8 1 4 pct convertible subordinated debentures due 2008
texaco incs texaco canada said it will raise postings for its edmonton swann hills crude by 24 canadian cts a barrel effective june 20
analysts said the budget featuring income tax cuts as well as cautious plans for public finances had improved the chances of re election for the conservative government and probably advanced the election date
chase trans info which offers similar services is now the largest provider of information services for the transportation industry
about 800 mln dlrs of the purchases are in goods of the type south korea normally bought from japan
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
the sale will raise the bill supply to 1500 billion yen
one senior currency trader in riyadh said inevitably the volume of business in london has gained pace with the two new licences for ncb and samba but there is no question that most of the liquidity still rests in saudi arabia currency traders said the shift to london in the saudi riyal market is difficult to quantify
a month ago nippon investors service inc nis assigned an aaa rating to financial securities assurance inc a us firm that gives financial guarantees on corporate securities
today all were traded at 5 3 8 to 5 1 2 pct
bank of japan intervenes to support dollar after tokyo opening dealers
chatwal said the final figures would be released in about two days
but the world economy with sluggish growth at best in the industrial nations a massive load of third world debt and huge trade imbalances is not in good shape said obrien
the growers were asked for their reaction to an oil world newsletter report that malaysias oil palm output is likely to drop sharply this year
the americans will just reply that the poles acted immorally in crushing solidarity nevertheless polish national bank head wladyslaw baka in talks in washington last week with the international monetary fund imf and world bank made it clear that poland was looking for a lead from the united states
diplomats accredited to the ec in brussels said they saw no signs of any immediate intention to impose any broad ranging sanctions against japan
qtly div 75 cts vs 65 cts prior pay june one record may one
swedish unemployment was steady at 22 pct of the workforce in march compared with the previous month the central bureau of statistics said
south africa declared a moratorium on repayments of about 14 billion dlrs of its original 24 billion dlr total foreign debt in september 1985 after foreign bankers abruptly cut off credit lines to the country because of concern over its deteriorating political and economic climate
avery said its board authorizerd a two for one stock split an increased in the quarterly dividend and plans to offer four mln shares of common stock
the pre dawn explosion ripped the wooden elevator open and a fire that followed continued burning at late morning but had been contained according to a dispatcher at the algona police department
nakasone has said that washington understands this problem
year on year m 2a increased by a provisional 84 pct in january compared with a downwards revised and provisional 81 pct in december
the st lawrence seaway said the first ship of the season passed through the st lambert lock here this morning officially opening the 2300 mile long waterways 1987 shipping season
there were 26 shopping days in january this year the same as in january 1986 a statistics office statement said
a group of investment firms which had once sought control of comdata network inc told the securities and exchange commission it sold its remaining 1113500 share or 59 pct stake in the company
merrill lynch mer disputes moodys downgrade
it said filter products will operate as part of donaldsons industrial group and its manufacturing operations will be relocated to dixon ill from evans city pa
dow dow to issue 56 mln dlrs in bonds
prior year results restated for change in method of recognizing revenue on distributor shipments
earlier the refinery had had to import some supplies of bauxite as rebel activity shut off supplies from alcoas mine at moengo in the east of the country
shr 23 cts vs 17 cts net 761000 vs 490000 revs 73 mln vs 45 mln
periods ended january 31 shr profit 22 cts vs loss 26 cts net profit 439000 vs loss 522000 revs 5600000 vs 3859000 nine mths shr profit 46 cts vs loss three cts net profit 912000 vs loss 59000 revs 146 mln vs 183 mln note year ago revenues include 400000 dlrs in quarter and 2227000 dlrs in nine months from operations of subsidiary sold in april 1986
aramco said it awarded 1303 contracts last year worth 14 billion riyals about 370 mln dlrs
wrather corp wco 4th qtr loss
shr loss 12 cts vs loss 63 cts net loss 596000 vs loss 2934000 revs 7261000 vs 6600000 year oper shr loss 14 cts vs loss 128 dlrs oper net loss 683000 vs loss 5824000 revs 298 mln vs 227 mln avg shrs 4930000 vs 4546000 note year net excludes losses from discontinued operations of 764000 dlrs vs 5152000 dlrs
as in the present accord the may buy and may sell levels are set at plus or minus 15 pct of the reference price and the must buy and must sell levels at 20 pct of it
finance director niall fitzgerald added that while gearing debt to equity plus debt rose to about 60 pct at end 1986 from 35 pct last year this was expected to drop back to about 40 pct by end 1987
for political reasons 35 to 40 billion dlrs is about the most youre going to get out of congress at the present time said touche rosss collander
the proposal only applies to commodities that are sold by exporters on a cost and freight c and f or cost insurance and freight cif basis since these costs would be included in the exporters sale price to the foreign buyer it said
foreign governments and central banks are therefore expected to be allowed to hold their accounts at the bank of japan the securities sources said
caisse centrale de credit cooperatif is launching a privately placed 12 billion franc bond issue in three tranches of 400 mln francs and with maturities of seven eight and ten years respectively lead managers credit lyonnais and banque francaise de credit cooperatif said
synergen sygn to make drug for ciba geigy
galaxy filed chapter 11 bankruptcy on april six
he projected a capital expenditure budget of 730 mln dlrs up from the 1986 expenditure of 655 mln dlrs
treasurys baker sees reagan opposing oil tax
later industry sources said the division which had worldwide sales of some 160 mln dlrs last year was sold for just under 200 mln dlrs
the dealers bid was previously blocked by the ontario securities commission because the offer excluded holders of canadian tire class a non voting shares which make up about 96 pct of company equity
eastern lost 1308 mln dlrs in 1986 because of competition and customer uncertainty over its future s and p noted
no more than four offers will be considered from each offering party it added
but he said that in meetings with both president suharto and leading indonesian ministers he had not called for specific policy changes
the company named hambrecht and quist inc as lead underwriter of the offering
chirac returned to paris this morning after three days of talks in new york and washington in which trade and protectionism featured prominently
oper net excludes gains on tax loss carryforward of 247000 dlrs vs 118000 dlrs
pakistan to tender for rbd palm olein tomorrow
if this happened but delegates said it was unlikely considering that the present indicator price averages 196 cts the price would be revised under the current accord by five pct or by whatever amount the international natural rubber council decides
the february order increase was led by transportation equipment up 111 pct after an 180 pct decline in january
as long as his buying tactics remain the same the market is likely to stay in the doldrums and i see no indication he is about to alter his methods he added
they had also forecast todays total authorised sugar tonnage export awards to be between 60000 and 80000 tonnes versus 103000 last week when the restitution was 43699 ecus
australian gdp rises 11 pct in fourth quarter
usair u reports final proration factor
shr profit two cts vs loss 58 cts net profit 182 mln vs loss 239 mln revs 3556 mln vs 3082 mln nine mths shr loss 81 cts vs loss 552 dlrs net profit 107 mln vs loss 2903 mln revs 101 billion vs 9833 mln note net income per share is after deductions for mandatory preferred stock dividends and income from the chemical operations not attributable to common stockholders
porex porxo to merge with medco mccso 
news international bond increased to 150 mln dlrs
first union corp said it completed the acquisition of two florida based banks north port bank based in north port and city commerical bank based in sarasota
this issue is rated b 2 by moodys and b minus by standard and poors
it has about 1200 employees
rha said that 1986 was the first year south korea had a trade surplus 45 billion dlrs against a 1985 deficit of 900 mln dlrs
depreciation of fixed assets 935 mln marks vs 847 mln
green tree acceptance inc gnt sets dividend
not enough research and development effort has been put in by tin producers and we have been pushed out by substitutes such as aluminium paper and plastics lim said
shr loss 130 dlrs net loss 256 mln revs 205 mln note prior results not given
some commercial banks have recently taken extraordinary measures to deal with third world lending strategies
rai research corp rac 3rd qtr feb 28
the us agriculture department said private us exporters reported sales of 200000 tonnes of wheat to jordan 300000 tonnes of soybean meal to iraq and 100000 tonnes of corn to algeria
the market is still small
paper money rose to 4041 billion francs from 3941 billion and 3835 billion respectively other forms of privately held money to 6795 billion from 6527 billion and 6160 billion
however gilts may benefit from further declines in uk interest rates they said
no export duty is applicable at this level against 3 8 cent per kg last month because the government raised the export duty threshold price to 210 cents per kg in early 1985
under the proposal the buffer stock manager would buy cocoa from origins or the second hand market on an offer system
ing
although todays negotiations did not produce a final agreement the decision to meet at the weekend appears to be a signal that the two sides are making progress
alcan said the technology which reduces the weight of a cars basic structure by up to 50 pct can improve handling and performance and reduce fuel consumption for any size car
they pointed to two factors that may have forced banks to scramble for reserves at the end of the week
the company also said it intersected another vein 90 feet west of zone two which assayed 0531 ounces of gold a ton
he believes economic fundamentals do not justify the bearishness but said that once you start the ball rolling its difficult to stop theres a stark possibility that you could get a destabilizing drop in the dollar that forces up interest rates and drives us into recession
qintex america ltd said it is again extending its offer of 13 dlrs a share for 33 mln princeville development corp shares until today from yesterday
talking point copper stocks
rosenbaum said because of the stance of brazil the outlook for an agreement to reintroduce coffee quotas at the september international coffee organization meeting is hard to predict
noranda raises primary aluminum prices
the company also said it has acquired north country media group a video productions company
some investors who have inco may suddenly say well because its not now a dow stock we should eliminate that investment said martens although he added the move was unlikely to have a serious long term impact on inco stock
cigna corp said it has fixed april 24 as the date for the previously announced redemption of its 998 mln dlrs of outstanding eight pct subordinated exchangeable debentures due december 1 2007 at 105867 pct of par plus accrued interest
greece yesterday signed contracts with the soviet union for the joint venture project the biggest investment in the country for 20 years
koehler said the bundesbank was changing money market rates by operating on the open market rather than adjusting leading interest rates because of the signal this gives to the market and its substantial impact on exchange rates
a department spokesman said the figures will probably be put back by about a month
he said in the interview the us purchases were to reduce his countrys 71 billion dlr surplus with the united states and also to cut its 56 billion dlr shortfall with japan
shr 17 cts vs 15 cts net 229000 vs 201000 revs 105 mln vs 99 mln year shr 21 cts vs 55 cts net 283000 vs 766000 revs 404 mn vs 397 mln note1985 shares adjusted to reflect the distribution of one share of class b common stock for every two shares of common stock held of record as of july 1 1986
qtly div 125 dlrs vs 125 dlrs pay may 1 record march 31 note full name is american information technologies corp
unilever plc adjusts dividend
rio grande azores and leixoes 26000 mt hss 14 dlrs basis one to two 4000 1500 azores and 3500 leixoes 25 4 5 5
canadian utilities ltd said it will redeem all its 145 pct cumulative redeemable second preferred shares series g on may 1 1987
liberty financial says it agrees to be acquired by equimark for 48 dlrs per share
greater use was also made of bond auctions to market new issues with terms in the two to five year range
strenger management board chairman of bayer ag baygf told a news conference at the hanover trade fair the main dangers were stagnation in world trade the lower dollar as well as crude oil and commodity prices
reagan is to decide by july 19 whether to renew the restraint program
officials at yesterdays crisis meeting said it was decided to uproot only some of the affected trees while others would be treated
this is the first dividend paid by federated since its conversion to a stock company from a mutual on jan 28 1987
at least weve put a floor under the price of the notes
ceco said drexel burnham lambert inc acted as cecos agent in this transaction
the low outturn of the psbr in 1986 87 was mainly due to the buoyancy of non oil tax revenues in general and the corporation tax paid by an increasingly profitable business sector in particular
he remarks were made in an address to the national petroleum refiners association meeting
it said the present value of future net revenues discounted 10 pct was 1562 mln dlrs compared with 4468 mln dlrs in the year ago period
outokumpus managing director pertti voutilainen told a news conference the reorganization involved a split of the division into a new independent division with six profit centres
canada allows publishing takeover by harcourt
cdc said the unit offering will consist of a maximum of 18750 units priced at 1600 dlrs each
hoogovens said the acquisition would strengthen its position as a supplier to industry of high value metal products
it is also issuing specific instructions on production to the japanese subsidiary of texas instruments inc trade and industry minister hajime tamura spelled out the steps japan was taking to salvage the pact and appealed for us understanding in a letter to top american policy makers
an equal sized offering of debentures was assigned an 8 3 4 pct coupon and priced at 9940 to yield 8807 pct or 115 basis points over the off the run 9 1 4 pct treasury bonds of 2016
lawson says his sterling target comments were misunderstood and insignificant
the issues pays a coupon of one pct in years one and two and then pays a coupon of 7 7 8 pct in years three four and five
so far this year the won has gone up by 08 pct against the dollar after a 334 pct revaluation in 1986
each 10000 mark bond carries two warrants which can be converted into 5000 dlrs each on the same terms as the warrants for the 1000 mark bonds deutsche said
the company said investment bankers drexel burnham lambert inc and alex
m 3 which is non personal fixed term deposits and foreign currency deposits of residents booked at chartered banks in canada fell 549 mln dlrs to 22530 billion dlrs
the european community ec should watch very carefully for any developments in the gulf war and their consequences on the oil market ec energy commissioner nicolas mosar said today
turnover net of duties 132 billion stg vs 146 billion
trizec corp ltd 1st qtr jan 31 net
teck vice president of administration john guminski said in reply to a query that the talks had been ongoing for a long time he declined to speculate on the outcome
outboard marine last june adopted a shareholder rights plan that will be triggered when a person or group acquires beneficial ownership of 20 pct or more of its common or begins a tender offer that would result in 30 pct ownership
argentina for instance is offering banks a 3 8 pct participation fee if they sign up for the deal within 30 days declining to 1 8 pct if banks commit within 60 days which boosts the all in interest rate it is paying on the package
shr 30 cts vs 592 dlrs net 1142000 vs 160 mln revs 106 mln vs 242 mln year shr 90 cts vs 620 dlrs net 3320000 vs 169 mln revs 4500 mln vs 262 mln note 1986 4th qtr and yr amounts include acquisition of 988 pct of common of atico formerly peninsula federal savings and loan association on january 24 1986
the reserves hit a record 53 billion us dlrs this week
ecuador to ask opec to raise export quota
the nigerians will go on to paris for similar bilateral talks tomorrow with coface the french export credit agency
mixon said the increases should come from internal growth as well as potential acquisitions
wholesale price declines were led by starch products down 13 pct light heating oil 11 pct lower heavy heating oil 10 pct lower and green coffee down 69 pct
westcorps western financial auto loans 2 inc said it has commenced an offering of 125 mln dlrs of aaa rated automobile receivable collateralized bonds
polysar ltd wholly owned by canada development corp said it agreed to form a joint venture with raision tehtaat of finland to build a synthetic rubber latex plant in southern finland
i hope it was a temporary blip upward he told a house appropriations subcommittee
the washington post said the us commerce department yesterday issued a new report showing that the us merchandise trade deficit was 1365 billion dollars in february a reduction of 14 billion dlrs from the 1506 billion figure the department reported only two days earlier
the association said in a statement deposit rates have also been increased by 1 4 to 1 2 percentage point
in fact many of the issues that have been tabled for discussion in the uruguay round of trade negotiations will be of more benefit to the developed countries he said
the company said penn traffic is expected to hold a special shareholders meeting later this month to approve a merger into miller tabak at the tender price
aqazadeh said organisation of petroleum exporting countries opec members were agreed on holding production stable and he reiterated the importance of maintaining oil prices
shr 40 cts vs 31 cts net 5151000 vs 4078000
uk lead and zinc offtake rises in january
combustion engineering inc csp regular div
the companys 261 billion dlrs in first mortgage bonds were downgraded to dp 4 low aa from dp 3 middle aa the ratings on its debentures and preferred stock valued at 213 mln and 619 mln dlrs respectively were lowered to dp 5 high a from dp 4
the group said it may raise its stake or sell some or all of it and has no plans to seek control of the company
kistler said the cost savings and greater efficiencies should put the company on a profitable course
the soviet union recently bought over 10 mln tonnes of us corn ostensibly as a conciliatory gesture ahead of trade talks with us agriculture officials
he said domestic demand growth will be due to a strengthening in real household disposable income
the central bank purchased bills for resale to the market on april 2 at an interest rate of 10 15 16 pct
the company is more concerned than ever about improving their relative valuation with respect to ford and chrysler he said
prime minister yasuhiro nakasone said that japan and other industrialized nations committed themselves in paris last month to stabilize the dollar above 150 yen
he told a news conference the company expected costs for its first 10 all suite hotels announced today to be about 150 mln dlrs
bank industry sources say it is an attractive target for large us or foreign banks looking to quickly move into the lucrative california market and the west coast region
the average dollar yen rates were 15232 for exports and 15231 for imports against 19661 for exports and 19627 for imports a year earlier
in a separate statement on japan the ec ministers said they deplore the continued aggravation of the imbalance in trade and expect japan to open up its market more the statement said the ec would continue to insist that japan boost imports and stimulate domestic demand
dresser said it will use the proceeds from the sale for stock repurchases debt reduction and possibly complementary acquisitions in the field of engineered products and services for energy producers
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
hopefully we will not overreact by installing unnecessarily complicated procedures that may become obstacles to the real goal of providing an increasingly safer more nutritious and economical meat supply for consumers stanley emerling executive vice president of the national association of meat purveyors said
partly offsetting these outflows exchequer transactions will add around 101 billion stg and bankers balances above target some 185 mln stg
west german beet plantings delayed three weeks
3 the ministers and governors reaffirmed the view that around current levels their currencies are within ranges broadly consistent with economic fundamentals and the basic policy intentions outlined at the louvre meeting
european markets react quietly to g 7 communique
seasonally adjusted export and import figures were not available but the department said they will be included in future current account data
cool and rainy weather slowed beet growth in denmark and crop prospects are rated as slightly below normal
it accepted 64 billion dlrs of bids including 20 billion dlrs from the federal reserve and 161 mln dlrs from foreign and international monetary authorities
however 1986s surplus on oil trade was 40 billion stg lower than in 1985 while the deficit on non oil trade increased by 21 billion
asked by reporters following testimony before the senate banking committee whether the fed had anything to do with the rise to 7 3 4 pct in the prime he replied not that i was able to detect
many consumers are holding off waiting for the best time to buy
chrysler has made a 13 billion dlr bid to buy amc from its french parent renault
he said many investors plan to sell their bonds if japanese or us interest rates decline further
notes net excluded extraordinary losses 2791 mln dlrs
hillards shares were unchanged at 313p while tesco was two pence firmer at 475p
the following proposed securities offerings were filed recently with the securities and exchange commission caterpillar financial services corp subsidiary of caterpillar inc cat shelf offering of up to 300 mln dlrs of debt securities including debentures and notes through underwriters that may include goldman sachs and co
for example they say financing talks with argentina are proving tough because buenos aires dislikes the debt equity schemes and onlending provisions that the banks are promoting
vernitron which manufactures electromechanical components and related products and services said it expects that a special meeting of shareholders will be held in august
elders extends offer for carling okeefe ckb 
base rates have been cut twice by one half point in march the last after the march 17 budget presentation and analysts had been expecting another half point cut shortly afterwards
in the three business days through monday the federal funds rate at which banks lend to one another averaged nearly 6 1 4 pct
peripheral said its increased involvement in the development of nucells nuclear battery technology made the merger practical
iroquois brands ibl rebuffs lyon foods claims
the surplus on the current account narrowed to 68 billion dirhams from 255 billion in 1985
china province becomes grain importer
with no propects for quotas in sight heavy producer selling initially and a price war among commercial coffee roasting companies will ensue the trade sources predicted
japanese customers have bought nearly six mln barrels of crude oil from the national iranian oil company nioc at a substantial discount to the official price and western traders have received even larger discounts japanese traders involved in the transactions told 
the two year notes mature march 31 1989
pdvsa and union pacific have sought a line of credit from a group of north american and japanese banks to finance the new companys working capital the venezuelan company said
witco corp said it filed with the securities and exchange commission a registration statement covering a 100 mln dlr issue of convertible subordinated debentures due 2012
while gas supplies may tighten in certain consuming areas notably in california and in the northeast us an overall shortfall appeared remote
britains cable and wireless plc cawll which holds a 20 pct share in idc has opposed plans to merge with rival group international telecom japan inc under the plan backed by the post and telecommunications ministry cable and wireless and us based pacific telesis international inc would become core companies in the merged firm with shares equal to those of the six major japanese core companies and seats on the board of directors
taiwan buys 25000 tonnes us soybeans
trafalgar house plc trafl said it has acquired the entire share capital of capital homes inc of the us for 20 mln dlrs in cash
shr 42 cts vs 32 cts net 1076572 vs 826939 sales 205 mln vs 125 mln note company released results in connection with filing for class a common stock offering
islamic development bank loans fall
that was up from 2997800 the previous week
business loans on the books of major us banks excluding acceptances fell 660 mln dlrs to 27793 billion dlrs in the week ended march 11 the federal reserve board 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
american can co acn is issuing a 150 mln dlr convertible eurobond due april 22 2002 carrying an indicated coupon of 5 1 2 to 5 7 8 pct priced at par lead manager morgan stanley international said
textron incs avco lycoming textron subsidiary said it finalized a 14 billion dlr five year contract with the us army for m1 abrams main battle tank gas turbine engines
ten pct of the capital to be floated will be reserved for employees with the rest offered to the public
taiwan announced the easing of import curbs on some 600 farm and industrial products last month a council for economic planning and development spokesman told 
the reagan administration has called for an end to the quotas by april 1988 but japanese officials have said they would not liberalize imports regardless of the us pressure
the humidity could induce rotting and growers are still finding more empty pods due to excessively dry weather earlier in the season
the letter of credit would ensure payment of princevilles contingent subordinated notes to be distributed to shareholders of record on the day immediately following completion of qintexs tender for 3300000 princeville share
newmont gold sees its sales rising 22 pct
latest year and quarter includes extraordinary gains of 214000 dlrs or three cts a share and 85000 dlrs or one ct a share
landes and another unitel video investor albert schwatz have formed a shareholder group and together hold 329225 common shares or 152 pct of the total outstanding common stock
the march 9 sale to be evenly divided between the three and six month issues will result in a paydown of 245 billion dlrs as maturing bills total 1565 billion dlrs
no purchase authorizations for the commodities provided in the january agreement have been announced by the department
oilmeal demand remained strong in the united states in july and august and six pct up on levels seen in the same months last year with most of the rise coming in soymeal the hamburg based publication oil world said
the measure however does not require reagan to comply with the 1973 war powers act which could lead to a pullout of us forces from the gulf
other countries are already cutting into the us market share here
the failure of seasonal rains has already seriously affected drinking water supplies farming and fishing in parts of the central and volta regions of ghana where rivers have dried up
greek prime minister andreas papandreou expressed restricted optimism about a crisis with turkey over disputed oil rights in the aegean sea
kerridge said the board met yesterday to discuss the merger but decided against it
in an interview eyskens said he felt the paris accord between the united states japan west germany france britain and canada had proved itself more or less workable but doubts over its effectiveness and durability have been growing since fears of a trade war between the united states and japan over computer microchips pushed the dollar to a record low against the surging yen early this week
fcs said merger negotiations with this other company have been continuing since late august
after opening at a tokyo low of 14375 yen the dollar fell as low as 14290 yen on heavy selling led by securities firms and institutional investors they said
the agreement with ich will provide access to all 50 states from pre paids present coverage in 22 states he said
phillips p says stock up on steps to pare debt
two major steel companies said they were studying a price increase announced yesterday by usx corps uss steelmaking division
honduras will tender march 26 under pl480 for us and non us flag vessels to import 1500 tonnes of tallow in bulk an agent for the country said
ng siew kee the chairman of malaysias cocoa growers council said malaysia should expand its sales to asia and the united states if it did not produce a type suitable for western europe
shr profit 118 dlrs vs profit 115 dlrs net profit 2192 mln vs profit 2115 mln nine mths shr loss 84 cts vs profit 372 dlrs net loss 1408 mln vs profit 6824 mln assets 7969 billion vs 7199 billion loans 3393 billion vs 3533 billion deposits 4568 billion vs 4122 billion note 1987 nine mths include previously reported 875 mln dlr addition to loan loss reserve in 2nd qtr for ldc debts
fidelcor inc said it has completed the sale of its industrial valley title insurance co subsidiary to a group of investors including the units management for undisclosed terms
allis chalmers said the business entities included in the transaction had total sales of about 250 mln dlrs in 1986 with total employment of about 4300
but so is unemployment
fleet financial group said its shareholders approved an increase in shares of the companys authorized common stock to 100000000 shares from 75000000 shares currently
gelco will continue to operate with current management independently of air canada although air canada already operates its own air cargo business that includes a small door to door courier operation
norton said it will provide the south afrcian unit with future technical support and products makde under that agreement will continue to be marketed under the norton trademark
payment date is may 11
texas commerce bancshares inc said that relatively stable oil prices and the banks planned merger with chemical new york corp chl would help 1987 earnings increase from last years profits of 20 mln dlrs
in the year ago quarter revenues fell less than one pct to 3188 mln dlrs
the us does not have the low end consumer ics integrated circuits that the japanese need for consumer products
the average price for the six months bills was 97174 and prices ranged from 97169 to 97189
comfed mortgage co inc initial public offering of 27 mln shares of common stock at an estimated nine to 13 dlrs a share through painewebber inc and bear stearns and co inc
hawker siddeley canada to sell unit
period ended jan 31 shr loss three cts vs loss two cts net loss 183500 vs loss 163800 sales 608800 vs 1156100 year shr loss 16 cts vs loss 21 cts net loss 1128600 vs loss 1081600 sales 3811200 vs 6968700
dividend on priority shares 51 francs vs 48 francs
the group said it added several conditions to its offer including receipt of all non public information about cyclops that was provided to dixons group plc in connection with dixons competing tender offer for cyclops
m
and even if japan had the additional ethylene there is a logistical problem of finding extra appropriate sized vessels to ship it to korea said one trading house source
shr profit four cts vs loss 58 cts net profit 119000 vs loss 1629000 sales 184 mln vs 170 mln
at the end of last year perus total foreign debt stood at 1446 billion dollars 1317 billion dollars of which is medium and long term debt the central bank said
de la rue raises annual profits by 127 pct
premier industrial corp pre regular dividend
the us agriculture department said it has accepted a bid for an export bonus to cover the sale of 50000 tonnes of hard red winter wheat to sri lanka
although data during the week was mildly positive for bond prices the small rise in february producer prices and downward revisions in january retail sales and industrial production were not real exciting said prudential bache analyst fred leiner
the un spokesman francois giuliani said perez de cuellar had no comment on the attack taken in response to iranian action against an american owned tanker last week but was trying to find out what actually happened calls to irans un commission elicited no response
the company which gave no 1986 profit figures posted a domestic group net profit of 41 mln marks in 1985
the designation of these loans as non accrual reduced the banks earnings by about 22 mln dlrs after tax chairman allan taylor said in a statement
ocilla industries ocil unit obtains credit
piedmont which slipped 1 2 to close at 69 5 8 also remained silent on the twa action
legal and general group 1986 pre tax profit 832 mln stg vs 315 mln
also excludes extraordinary loss of six cts a share in the fourth quarter 1985 and gain of 181 dlrs a share in full year 1985
qtly cash distribution 305 cts vs 184 cts prior pay may 15 record march 31 note prior quarter dividend was an initial payout based on operations for a partial fourth quarter in 1986
among his proposals which he presented to the senate banking committee in testimony last week were a requirement that raiders give 24 hour notice for every one pct of stock they acquire in a company
on friday taft vice chairman dudley s
many bankers have been urging an average half percentage point cut in deposit rates and a one point cut in lending rates they said
holiday corp hia sells stake in venture
in addition it bought 16 mln stg of local authority bills in band two at 9 13 16 pct
belgium decided two minesweepers en route for the gulf would stay out for the time being following mondays us action
bearer shares of schweizerische aluminium ag aluzz alusuisse fell sharply as trading resumed after a one day suspension on friday when the firm disclosed plans for a capital cut
the board of medical properties inc said it has declared an initial monthly cash dividend of 11 1 2 cts a share and has adopted a monthly dividend policy
brazils attempt to seek better terms for paying off its 109 billion dlr foreign debt is responsible and modest a former chairman of president reagans council of economic advisers said
terms were undisclosed
he said the problem must be approached on many fronts and focus most strongly on us and overseas fiscal and monetary policies to foster economic growth us competitiveness and the establishment of a level playing field for trade
net proved crude oil reserves also fell in canada to 224 mln barrels and in europe to 403 mln barrels from the previous years level of 231 mln barrels and 439 mln barrels respectively
anadarko petroleum apc sells convertible debt
york international yrk to make acquisitions
the european communitys farmers pressure group copa has urged ec farm ministers to agree a tax on vegetable proteins similar to the oils and marine fats tax which has already been proposed by the ec commission
international totalizator systems inc vice president of finance joel graff said he expects to report an improved first quarter compared to the 377000 dlr loss reported in the year ago quarter
great american gta gains over 80 mln in loans
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
some merchants fear that a large tonnage will be delivered against the april futures contract between now and the end of the month and possibly disrupt the physical market
the uk oil marketing and refining industry will need to invest larger sums probably around 500 mln stg a year for a good many years he said in a statement
court declines to block viacom via merger
fisher foods fhr says stake in firm sold
non callable for five years the issue is rated a 2 by moodys investors service inc and a plus by standard and poors corp
but the banks are still being circumspect weighing possible accounting consequences as well as considering the precedents that they would set if they agreed to pins
the cabinet has approved a bill making it easier for the government to issue commemorative coins a finance ministry official said
tandy brands inc said it sold its grate home and fireplace division to an investor group that includes some members of grates management for 1600000 dlrs in cash and secured notes
there is a lot of interest among foreign investors in the country but now they are waiting to see what happens in the congressional and local elections later this year said american chamber of commerce president george drysdale
the project was jointly funded by the usda and nppc
it assigned a ccc plus rating to hyponexs 150 mln dlrs of senior subordinated debentures due 1999 that were priced wednesday for offering
the institute forecast that japans exports will gradually rise in the year in volume terms as the dollars fall in the past 18 months is likely to help prop up the us economy
nuclear data inc said its bank lenders agreed to extend its secured loan agreement through june 30 1987
this brings the banks total help today to 759 mln stg and compares with its estimate of a 105 billion stg money market shortage which it earlier revised up from 950 mln stg
in a filing with the securities and exchange commission shearson said it bought the stake for 188 mln dlrs for investment purposes and has no intention of seeking control of the company
york international corp said it has agreed to acquire frick co and frigid coil frick inc for undisclosed terms
he called for a faithful and firm adherence by all the major industrial countries to the louvre accords in both their letter and spirit neither the west german finance ministry nor the british treasury commented on the row
white house welcomes rise in indicators
bastian said it may contact third parties regarding its intentions toward cosmo adding it intends to request a meeting with cosmo representatives to discuss its investment in cosmo stock
petroleum products fell to 925 pct in february from 945 pct in january
rusnak has been apointed president succeeding charles miller who continues as chairman
thorugh march 27 he said 45696 neco shares had been tendered
the sheer scale of the task in transporting the record crop has been evident from television reports which have shown enormous queues of lorries waiting outside granaries
economic spotlight australian markets booming
confidence in opec firms us energy futures
japan will ratify the 1986 international cocoa agreement icca with effect from july 1 and will renew its membership in the international cocoa organisation icco foreign affairs ministry officials said
poehl said the bundesbank had tolerated rapid money supply growth last year because the country enjoyed low inflation and because external factors including low oil prices and favourable terms of trade had given some extra leeway
esso not only picked up delhis oil and gas output but also gained as much as 300 mln dlrs in transferable tax losses accumulated in exploration allowances and other concessions
this would also affect thyssens trading operations he said
the funds will be used in the 700 mln dlr pacific petroleum project which includes the construction of a 267 klm 1602 mile pipeline connecting nuevo teapa in the oil rich state of veracruz and salina cruz oaxaca on the pacific coast
pennzoil co chairman j
swires share of cathay which stood at 70 pct before the flotation fell to 5425 pct at the end of last year and has since slipped to 5023 pct
profit after net financial items 500 mln crowns vs 359 mln sales 1090 billion crowns vs 1072 billion proposed dividend 1250 crowns vs 1050 crowns
investments were reduced to 108 mln marks from 125 mln
shr loss five cts vs loss eight cts net loss 657000 vs loss 566535 revs 9341755 vs 260468 avg shrs 14323384 vs 7081688 nine mths shr loss 19 cts vs loss 39 cts net loss 2449094 vs loss 1408789 revs 15571230 vs 683684 avg shrs 12655172 vs 3612300
olson industries inc said it signed a letter of intent to sell substantially all of its remaining egg operations to sunny fresh foods inc
japan economy may start bottoming out soon agency
the us west german squabble over bonns monetary policy should thus be regarded as a process of healthy policy coordination and not as any indication of a possible collapse of the louvre agreement the official said
danish overnight money market rate cut to 10 pct from 105 central bank
the company also said lynch corp lgl has renewed its offer for becor which was withdrawn last week
ryan said you always have to look at polaroid at its weakness
miyazawa added that it was difficult to say why there has been such speculative dollar selling in the market
each 5000 franc note carries nine warrannts each of which entitles the holder to buy one share in the company at 10800 belgian francs each
i do not expect any major tax cuts as all the sweets were given out before the election
co lead managers are new japan securities wako securities and yasuda trust
the new cds have maturities of six months one year and two years and bear interest rates ranging from 407 pct to 512 pct he said
dime savings bank ny dimeo 3rd qtr net
the bill also would require more disclose when several investors form an alliance in a hostile takeover
to provide health care protection for its retired employees allis chalmers said it proposed setting up a secure 75 mln dlr fund
other milds coffee producers include costa rica dominican republic ecuador el salvador guatemala honduras india mexico nicaragua papua new guinea and peru
the us agriculture department gave the 1986 87 breakdown of supply and distribution for wheats by classes in mln bushels with comparisons as follows
shanghai plans to rely on soft loans to finance a number of large scale projects in the city including an underground railway system mayor jiang zemin said
fed officials said an identical proposal was being issues today by the bank of england
eight calabrian bank officials released from jail
shr loss two cts vs profit three cts net loss 59299 vs profit 88843 revs 3487693 vs 2123488 year shr profit 25 cts vs loss two cts net profit 816395 vs loss 44541 revs 122 mln vs 7413328 avg shrs 3208472 vs 2348559
british airways issues 100 mln stg eurobond
the iagifu wells in the papuan basin have recorded the best oil flows in more than 60 years of exploration in png
jardine matheson is undergoing a series of reorganisations that will in effect turn it into a holding company for its diverse interests
ecuador may be unable to export oil for up to five months due to extensive damage to a 25 mile stretch of pipeline linking jungle oilfields to the pacific port of balao
each bond is accompanied by a warrant giving the right to subscribe from september 1 to 30 1987 to a new cne 870 pct bond due october 1997 with a par issue price
however great american has revised its previous estimates of provisions for possible losses and has added 99 mln dlrs to the allowance account as of december 31 1986
it expects work will commence shortly and continue during the 1987 exploration season
with the addition of welbac customers centel cable television co of michigan serves more than 83000 customers
intermagnetics general corp said it completed the purchase of the advanced products department of air products and chemicals inc apd terms were not disclosed
prices of malaysian and sumatran cpo are now around 332 dlrs a tonne cif for delivery in rotterdam traders said
continental health affiliates inc cthl 4th qtr
a meeting of finance ministers and central bankers of the group of five ended after nearly three and a half hours
pay date is april 15
fcs laboratories said its merger talks with another unidentified company in the health care field ended without agreement
on chinas import potential he said a foreign exchange shortage would force china to import less this year and next than in the past with an emphasis on technological equipment and capital
however the group said it will continue to try to block gencorps poison pill provision
noranda said if it decides to keep the mine open it would take four or five months before it could resume full production
union texas oil reserves dropped in 1986
smithkline beckman corp skb 3rd qtr net
among other things krupp said it will provide know how for all production phases and train the korean workforce
among the numerous problems of a huge centrally run economy entering a free trade system are tariffs and reciprocity and the expectation that china will practice an open trade policy without trade discrimination de clercq added
iranian oil minister gholamreza aqazadeh arrived in algiers at the head of a large delegation for talks on stabilizing oil prices the official news agency aps said
the backlog at harris is up 30 pct from the beginning of the fiscal year am said
in an earlier incident two people were killed in an explosion and fire at the refinery on march 13
watanabe originally proposed cable and wireless be given up to 30 pct of the merged firm
hemotec inc hemo 4th qtr net
the us dollar convertible eurobond for keppel corp has been increased to 75 mln dlrs from the initial 60 mln bookrunner morgan grenfell and co ltd said
s and p said it reduced 79 debt ratings affecting 63 billion dlrs of debt securities and raised 28 ratings affecting 12 billion dlrs of debt
the yield on the bills for sales to banks and securities houses from money houses will be 39496 pct against the 39375 pct discount rate for two month commercial bills and the 446 37 pct yield today on two month certificates of deposit
based on data for the week ended february 26 the adjusted world price for upland cotton is determined as follows in cts per lb northern european price 6632 adjustments average us spot mkt location 1042 slm 1 1 16 inch cotton 180 average us location 053 sum of adjustments 1275 adjusted world price 5357
surely what would have been sauce for the goose would have been sauce for the gander said sidney rosdeitcher a samjens lawyer
the company said first railroad had loan production of over 100 mln dlrs in 1986 and was servicing over 435 mln dlrs in loans at the end of 1986
tempo tpo to sell cable systems to eagle
world group sales in the sector fell 25 pct to 493 mln marks but incoming orders rose 25 pct to 513 mln marks
shr 94 cts vs 102 dlrs net 7255000 vs 7856000 loans 288 billion vs 294 billion deposits 405 billion vs 373 billion assets 543 billion vs 514 billion
the rise in gdp was below the 33 pct increase forecast by federal finance minister michael wilson in his budget last month
the office said telephone confirmation of allotments must be received by 1500 hrs est today and that secondary trading will begin at 0930 hrs est tomorrow
the bank said in a statement that from april 2 banks bidding for foreign exchange would have to pay at the rate they offered and not as presently at the rate of the lowest successful bid made at the auction
damm m
roberts made the comment at a press conference held by republican members of the house agriculture committee
security pacific also acquired a stock appreciation right equal to 18 pct of the value of the new companys fully diluted common stock schwab said
bank board says mortgage rates down in february
totally unadjusted figures show a deficit of 83 mln dlrs against 164 mln dlrs in march revised from 178 mln dlrs and compared with 262 mln in april 1986
employment in manufacturing industries fell 430000 from a year earlier to 1422 mln people in february due to the yens continued appreciation while employment in non manufacturing industries rose 380000 to 1211 mln
amax zinc co a division of amax inc said it is increasing the price of dyecast alloys no
it said chairman and chief executive officer victor m
previously named international nickel co inco is one of the original components of the index established in 1928
qtly div four cts vs four cts prior pay march 31 record march 20 note first federal savings and loan association of brooksville
to help combat endaka and the slump in tourism the tourist bureau prepared a pamphlet economical travel in japan it gives budget saving tips on finding medium priced business hotels and japanese style inns cheap sushi and public baths while getting a revealing glimpse of japanese in their daily lives residents of okubo house a transit hotel in tokyos shin okubo love hotel district offer even more savvy advice
pending its deliberations harper and rows board has postponed indefinitely a special meeting of stockholders that had been scheduled for april 2 to discuss a proposal to recapitalize the companys stock to create two classes of shares with different voting rights
spie batignolles could increase comstock holding
we have been considering the move for quite some time now and the current strength of the eurosterling sector provided the perfect opportunity and spur for us to finally tap the market lance moir corporate treasurer at storehouse plc told
shr 12 cts vs 10 cts net 1600000 vs 1314000 revs 176 mln vs 122 mln nine mths shr 58 cts vs 43 cts net 7624000 vs 5336000 revs 568 mln vs 401 mln
lending by the saudi industrial development fund a major source of industry backing has fallen steadily since 1983
noranda inc said production will remain shut down at its fire damaged copper mine here until it can completely examine the mine
the telex could be sent to creditors as early as today bankers said
wisconsin public service also said natural gas sales dropped 22 pct mainly because of the growing trend of large industrial customers to purchase gas directly from producers
the medium and longer term interbank rates firmed today with three months ending at 5 1 16 to 4 7 8 pct against yesterdays five to 4 13 16 close
that price increase which president kenneth kaunda later revoked followed pressure by the international monetary fund imf to reduce the governments subsidy bill
we have to look at things that others might do he said
qtly div six cts vs six cts prior pay april three record march 23
pakistan cotton crop seen record 76 mln bales
the split will increase the number of outstanding shares to over 26 mln from about 173 mln shares now the company said
management believes that sufficient resources should be available to cover interim capital concerns while additional capital is being sought the bank said
japans state export import bank last month agreed to provide around 900 mln dlrs in untied credits to help indonesia pay for its share of 21 world bank development projects
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
weekly car production estimated lower
traders detail ec grain export licences
the payment date is may 14
our all in cost was comparable
shr 36 cts vs 43 cts net 13 mln vs 17 mln revs 90 mln vs 79 mln
he said the government policy was to rationalise and streamline import controls
reagan ready to impose trade curbs against japan
qtly div 43 cts vs 43 cts prior payable may one record april 15
the united states is fully entitled to take military action in exercise of rights of self defense in the face of the imminent threat of further attacks howe said in a statement issued in london
because rates soared to the level of the lombard emergency funding rate yesterday banks fell back on the loan facility to draw down a high 53 billion marks in an attempt to meet bundesbank needs the data showed
annual growth in the 12 months to january averaged about 18 pct well below the 28 pct figure recorded in the 12 months ending last june the office said
no further details were available
february consumer instalment credit numbers are due on wednesday with march producer price data out friday
greece plans to reduce 1987 foreign borrowing
c and w has a 20 pct stake in one of the two firms watanabe has proposed should merge
enterra en credit line cut
at the close of the business today the total amount of debt certificates issued by the exchange fund in return for money transferred from the general revenue account and the various funds in other words the total borrowing by the exchange fund from these sources will be 269 billion dlrs jacobs said
there should be another month or two of very weak new home sales but with interest rates stabilizing sale of new homes should become more stable by mid summer said economist lawrence chimerine of wharton econometrics inc
the government which published the january unemployment figures today did not make any predictions
belgian central bank buys currency to repay debt
house of fabrics hf sees results improving
american electromedics corp aeco 2nd qtr loss
shr 10 cts vs five cts net 512000 vs 230000 revs 168 mln vs 9025000 year shr 55 cts vs 34 cts net 2662000 vs 1541000 revs 575 mln vs 323 mln
inflation as measured by the gnp implicit price deflator will rise to around 33 pct this year from 27 pct in 1986
ameritrust amtr sets two for one stock split
but the company stressed in a filing with the securities and exchange commission that it believes it is too soon to reclassify the debt despite brazils feb 20 suspension of direct interest payments on medium and long term loans
economists said that they doubt the federal reserve is firming policy to aid the dollar despite higher discount window borrowings in the latest two week statement period and very heavy borrowings wednesday
kemper corp kemc regular payout set
rubber producers and consumers who agreed last week on the central elements of a new international natural rubber pact have started work on the legal drafting of a future accord delegates said
dutch sugar traders deny involvement in a plan to offer more than 850000 tonnes of sugar to intervention in protest at ec export policy and prices traders told 
the company reported revenues of 154 mln dlrs and net income of 106 mln dlrs in fiscal 1986 ended march 26 1986
the agreement between the two companies calls for a 50 50 joint venture in london focussing on investment advisory asset management market research and consulting on financing
a spokesman for cable said he was unaware if the speculation had any foundation
preussag said its amalgamated metal corporation plc amc subsidiary whose results are included in the world group accounts made an unspecified profit in the fourth quarter of last year
reynolds metals co is raising 200 mln dlrs through an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said sole manager goldman sachs and co
indonesian foreign debts manageable conable says
the new exchange rate will promote purchases of domestic goods and services by the industry azpur said
the stc soyoil purchase was for may 20 jun 20 shipment at 319 dlrs per tonne cif and the palm olein for apr 25 may 25 shipment at 355 dlrs per tonne
the 37635 deadweight tonnes bulk carrier cumberlande which sank in the south pacific last friday was carrying a cargo which included lead as well as magnesium ore a lloyds shipping intelligence spokesman said
officials from the national corn growers association and the national cattlemens association said their groups oppose any 0 92 or decoupling plan due to concerns about reopening the farm bill and creating more confusion among farmers
the chances are very good as of now of getting buffer stock rules by the end of next week ghanaian delegate and producer spokesman mama mohammed told journalists
the fixed rate mortgages on offer carry interest rates even below those on the variable rate loans
baker said in a television interview aired here yesterday we dont have a target for the dollar he declined to comment on what might be a desired level for the dollar saying we really dont talk about the dollar he said protectionism was becoming extremely strong in the us in response to widening us trade deficits and import barriers in other countries
it said assays from zone one averaged 0809 ounces of gold a ton over a 40 foot section with an average width of 626 feet
sci med smls board agrees to bristol bmy deal
net includes gain from sale of investments of 64000 in qtr 1987 and 157000 vs 1231000 in nine mths 1987 vs 1986
they will come in denominations of 10 mln crowns without commission to the bank
the annual inflation rate rose to 58 pct in june 62 pct in july and 615 and 6188 pct in august and september respectively the national statistics office said
last weeks american petroleum institute report said that us refining capacity rose three pct to 787 pct of capacity with crude oil runs at 122 mln barrels per day for the week ended march 20
shr loss 44 cts vs loss 20 cts net loss 24 mln vs loss 880000 revs 24 mln vs 26 mln year shr loss 87 cts vs loss 11 cts net loss 43 mln vs loss 494000 revs 90 mln vs 120 mln note1986 includes restructuring charges of 21 mln dlrs and loss of foreign affiliates of 20 mln dlrs
the transaction is conditioned on allieds pending merger with the vons cos inc
i expect by the early 1990s the us will be running a net trade surplus roderick said
note 1987 3rd qtr includes a 106 mln dlrs or 41 ct a share after tax loss from discontinued operations mainly from sale of assets of oil and gas exploration and production subsidiary on september 30
prawiro said 1986 87 had also been difficult because of the appreciation of currencies like the yen and the mark against the dollar which increased indonesias debt repayments
medium term euronotes had previously only been issued in us dlrs it said
the books will be reopened around april 24 when redemtion notices are mailed
heavy snow blanketted central and south jilin and north liaoning leaving farmland too muddy for spring ploughing and sowing the paper said
consul restaurant corp said it extended the deadline of its exchange offer for its 13 pct convertible debentures due 1992 to 1700 cdt april 24
normally winterkill is caused by inadequate snowcover combined with cold temperatures
wall street sources said they believed first boston corp and merrill lynch capital markets were also in on the bidding for the corporate bonds
royex on march 31 offered to buy four mln corona shares
us energy futures called unchanged to lower
the administration has been under pressure to retaliate
it said the 80 cf6 80c2 engines are worth more than five mln dlrs each
a report by the stockbrokers said that on a new field not paying prt due to its small size the relief would directly benefit in prt saving on an existing field
it is inevitable that exchange rates fluctuate under the system of floating rates sumita said
small investors would receive one free share for every 10 bought with an upper limit of five free shares per investor and on condition the shares are held for at least 18 months
canadian imperial bank of commerce earlier reporting higher net income for the first quarter ended january 31 said it expects loan losses to be lower than last years 6970 mln dlrs
feds johnson says louvre accord alive but cites us german differences
yugoslav retail prices up 70 pct in march
foreign exchange dealers said the yen funds would be used to buy dollars to prevent a further dollar fall
the commission has yet to decide whether the maize will come in through direct purchases by the spanish intervention board or by a tender system
it will not be easy to cut domestic demand even in a state controlled economy
the strategy left its stock in a slump and its pilots union concerned that the company was not focussing enough attention on its airline
tenera lp tlpzv sets initial quarterly
they agreed on a pricing system aimed to stabilise the market around 18 dlrs a barrel
charles andrew an analyst who follows phillips for john s
monier was trading at 280 dlrs when csr launched its original bid of 350 or 168 times earnings in late april
its disappointing to spend so much time on these negotiations and have them fail said fcs chairman nicholas gallo iii
dow chemical launches 200 mln swiss franc bond
after july 1 dividends will be tax free to shareholders provided they come out of earnings on which the full 49 pct company tax rate has been p27id
the company said it will assume about 10 mln dlrs of fox liabilities with a provision for a further 65 mln dlrs based on the future financial performance of fox during the one year period following the closing of the deal
the staffer said under the measures passed by the committee the secretary of defense would have more influence over decisions to keep or sell strategic stockpile materials
individual segments in many countries may lose in the process but it should result in a more rational system of world wide production within 10 or 15 years he said
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
west germany still committed to louvre accord
bresser pereira said brazil faced the risk of economic recession but he estimated the gross national product would grow 45 pct this year
shr 53 cts vs 85 cts net 2033425 vs 3718325 revs 1206 mln vs 795 mln note 1986 net includes 3300000 dlr provision for credit loss
safeway agrees to severance for dallas workers
renouf pointed out this exceeds the minimum number sought in the offer but its statement gave no reason for the extention
the maximum rebate granted at yesterdays european community ec sugar tender marked no change in policy towards producers complaints that they are losing money on exports outside the ec ec commission sources said
tylan corp tyln to sell furnace product line
a dale mayo clearviews president and chief executive officer will retain a 50 pct interest in the company almi group said
3 the ministers and governors reaffirmed the view that around current levels their currencies are within ranges broadly consistent with economic fundamentals and the basic policy intentions outlined at the louvre meeting
gcc members saudi arabia kuwait bahrain qatar the uae and oman are threatening to impose heavy customs duties on european exports to the gulf if no solution is reached
it was really an enormous drop a reduction in rates and that to me is the critical element he told 
at 40 dlrs a share home federal said the total market value of the transaction would be about 175 mln dlrs
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
the talks begin tomorrow with high level discussions on the economic structures of both countries and how they affect the bilateral trade imbalance which last year amounted to 5148 billion dlrs in japans favour
american tax dollars are being used to subsidize foreign agriculture and mineral production that is often in direct competition with our producers senator don nickles an oklahoma republican said in a letter to fellow senators seeking support for his legislation to limit these loans
qtly div 175 cts vs 175 cts in prior qtr payable april 15 record march 31 company corrects amount of previous payment in march 18 item to show there was no change
but squibbs investment in cetus is the first it has made in biotechnology
after meetings at the economics and foreign ministries this morning he said the dutch government had indicated it would vote against the proposal as had a number of other countries
mclain industries inc mcclo 2nd qtr march 31
us officials admitted darmans absence would be an undoubted blow to baker who has relied on him for policy advice both at the white house and in reagans second term at the treasury
tax proposals are being given consideration by members of the house budget committee but the details of any tax increase would be made by the tax writing house ways and means committee
sallie mae prices short term floating rate notes
hilton hotels corp said its first quarter net income rose 37 pct paced by strength in both hotels and gaming
gca corp gca year
india plans more bombay offshore oil wells
in february and in march of this year japanese investors reduced their purchases of us treasury bonds the sources said
saudi arabian oil minister hisham nazer reiterated the kingdoms commitment to last decembers opec accord to boost world oil prices and stabilize the market the official saudi press agency spa said
brazil cocoa exporters unlikely to limit sales
but they described market response as muted because the s and p action came as no surprise
the government has forecast an unchanged 25 pct rise in gross national product
irt said conversion would be permitted at any time after 90 days after completion of the distribution of the debentures
baldrige predicts end of us japan trade dispute
a regular meeting of the politburo heard that in march industry achieved the average daily rate needed to fulfil annual targets
the grant comes as part of package announced on march 13 for indian mineral development
saudi arabia buys 5000 tonnes rbd palm olein
he has proposed a return to the free market which under ec law is supposed to exist except in times of manifest crisis but diplomats said some ministers who meet to discuss this idea on march 19 will argue that steel firms are in crisis in their countries with orders falling as customers switch to alternative products and accounts firmly in the red
moodys downgrades baker international and upgrades hughes tool
a companion 150 mln dlr offering of 30 year bonds was given an 8 3 8 pct coupon and was priced at 99875 to yield 8386 pct or 825 basis points over treasuries
preliminary figures for invisible transactions in the fourth quarter show a surplus 18 billion stg to give an estimated surplus for 1986 of 72 billion
restoration of coffee export quotas before october seems unlikely ico producer delegates
it said the new areas of weakness are west germany and the smaller european countries it influences and japan hardest hit by currency appreciation this year
ssmc spun off from the singer co smf a year ago said that the parts catalog division wholesales parts and needles to the industrial sewing trade in the us under the agreement key managers and employees of the parts catalog division in nashville tenn will relocate to the ssmc facility in murfreesboro ssmc said
under terms of the affiliation each first tuskaloosa shareholder will receive 66 dlrs value of amsouth stock for each share held
the partnership is controlled by marcus schloss and co inc a new york brokerage firm and prime medical products inc a greenwood sc medical supplies firm
like other city banks sumitomo is also pushing to expand lending to individuals and small and medium businesses to replace disappearing demand from big business he added
chemlawn chem rises on hopes for higher bids
mci communications corp mcico 3rd qtr net
brazil suspended interest payments on its 68 billion dlr foreign debt to commercial banks on february 20 and shortly after announced it was freezing some 16 billion dlrs in short term credit lines
the shortfall will be financed domestically
it will be the next decade before we see if the strategy is right or wrong
long term pressure by trade ministers is necessary if the current uruguay round of talks on the general agreement on trade and tariffs gatt is to succeed new zealands overseas trade minister mike moore said
fees are a 1 3 8 pct selling concession and 5 8 pct combined management and underwriting
the dollar opened at 15120 30 swiss francs against 15085 00 at the new york close
qtr 1985 excludes estimated loss 3354000 for disposal of hcl leasing corp sold july 1986 as well as its operating results prior to this date
prime minister yasuhiro nakasone said that japan and other industrialized nations committed themselves in paris last month to stabilize the dollar above 150 yen
april 30 end shr losses not given net loss 449000 vs loss 155000 revs 84000 vs 52000 nine mths shr losses not given net loss 810000 vs loss 394000 revs 173000 vs 144000
ropak ropk has 34 pct of buckhorn bkn 
jwt group inc disclosed in a filing with the securities and exchange commission that it awarded so called golden parachutes to 26 top officers
the company also said certain lenders agreed to take a 24 pct stake in the company by converting seven mln dlrs of debt into preferred stock
shr profit three cts vs profit one ct net profit 129082 vs profit 36099 revs 3864187 vs 1875919 nine mths shr loss six cts vs profit two cts net loss 303581 vs profit 110311 revs 9517242 vs 5248105 note prior qtr and nine mth figures include extraordinarycredits of 15000 dlrs and 48000 dlrs respectively
total us slab zinc stocks held by smelters rose to 24735 short tons at the end of february from 22120 short tons at the end of january the american bureau of metal statistics reported
the previous weeks m 1 level was revised to 7386 billion dlrs from 7385 billion while the four week moving average of m 1 rose to 7371 billion dlrs from 7368 billion
brand and hellman gave up their interim posts yesterday the spokesman said adding the company will have no chairman for the time being
31000 tonnes barley rouen completing le havre to jeddah 1535 dlrs 5000 load 3000 discharge chinese charterers took patricia vi 25000 tonnes river plate completing buenos aires or bahia blanca to china april dates 2900 dlrs buenos aires or bahia blanca only 2800 dlrs 2500 load 3000 discharge comanav took sea song 30000 tonnes us gulf to morocco april may dates 1350 dlrs one to one option 1450 dlrs one to two 5000 load 5000 discharge
though japanese exports have become more expensive with the yens sharp rise against the dollar they still tend to surge when growth picks up according to the oecd
hartmarx corp following a year of restructuring continues to target record earnings for fiscal 1987 chairman john meinert told the annual meeting
the solution is linked with growth not recession he said noting an imf program would involve promoting exports and inducing an internal recession in order to service debt
the breakdown was as follows in tonnes cotton 5000 nil sunflower 25156 23713 linseed 6127 5990 groundnutseed nil 738 soybean 65759 76371 tung 645 730 olive 183 660 maize nil 312 rape nil nil grape nil nil the board said
the department said the november 30 loans outstanding amounted to 200 billion dlrs and inventories 132 billion
john dingell the michigan democrat who chairs the house panel responsible for the secs budget and operations
panhandle eastern also said it had budgeted 78 mln dlrs for its 1987 capital spending program an increase from 65 mln dlrs spent last year
the verdict was given by mr justice millett on january 22 when amt led an effort by itc creditors to recover sums claimed by banks and london metal exchange brokers as a result of the collapse of the itcs buffer stock operations in october 1985
new zealand cancels weekly t bill tender
he mentioned car exports which accounted alone with sales of 617 mln dlrs in the jan sept period against 194 mln dlrs in a similar 1986 period
brazilian coffee institute ibc president jorio dauster said he will attend a meeting in managua this weekend
the unit baker international finance nvs senior debt guaranteed by baker was reduced to a minus from a
firm sells entire allegheny intl ag stake
azpurua told reporters yesterday the document is in its final phase of preparation and will be soon be sent to banks for approval
we are thinking about making an offer to dome or amoco canada petroleum co ltd or the creditors blair told reporters before the annual meeting
denominations are one mln guilders and the issue price on a discount to yield basis is to be set tomorrow at 1000 hours local
uk chancellor of the exchequer nigel lawson said the recent dispute between the united states and west germany over economic policy was responsible for much financial turmoil and that it should never have happened
redstone said his group would contribute more than 475 mln dlrs in equity toward the takeover
newmont gold corp expects gold sales in 1987 to rise about 22 pct to 577000 ounces from 1986s 474000 ounces the company said in its annual report
he said the 10 pct cross field allowance relief would favour chances that development of smaller north sea fields such osprey don and arbroath would be brought forward
swedish drug firm ab astra astsst shares rose 48 crowns to 690 in the first two hours of trading on the stockholm bourse amid hopes its research into anti viral drugs may have promising results in the treatment of acquired immune deficiency syndrome aids stockbrokers said the shares which climbed amid heavy institutional buying also rose in reaction to an optimistic assessment of future products in the firms annual report which was released this week
the ec tariffs which would involve renouncing obligations entered into with the world trade body gatt would be designed to stop a diversion of exports to the ec market from that of the us the diplomats were meeting as tokyo announced that the ecs trade deficit with japan reached a record 213 billion dlrs in march up from 194 billion in february
1985 net includes 720 mln dlr writedown of drilling rigs
he credits good results at rca in turn aided by the nbc broadcasting operation and lower interest rates
also excludes gain of 83100 dlrs from in current qtr and gain 90400 dlrs in six mths from benefit of tax loss carryforwards
it said process software helps companies monitor industrial processes identifies problems and recommends solutions
sorghum from bahia blanca increased 050 australs to 7650 per tonne and dropped one to 75 at rosario
in a statement to the informal gatt trade ministers conference here he said agriculture is a problem which involves all countries and seriously affects the debt servicing abilities of a number of developing countries
talks with the shipowners association syndarma have been deadlocked over overtime
after the acquisition which is subject to egyptian government approval working interests in the hurghada block will be conoco hurghada at 45 pct hispanoil 30 pct and gulf canada the balance
americanture aaix buys american adventure
the central bank purchased bank bills outright comprising 25 mln stg in band one at 9 7 8 pct 138 mln stg in band two at 9 13 16 pct and three mln stg in band three at 9 3 4 pct
penney jcp sets stock split raises quarterly
general partners a texas general partnership equally owned by affiliates of wagner and brown and afg industries inc afg said it currently holds 2180608 common shares or about 98 pct of gencorp incs gy outstanding common stock
holders will get a dividend of one preferred share purchase right on each outstanding share of common stock
usda raises soviet grain import estimate
amsouth corp said the federal reserve board approved the affiliation of first tuskaloosa corp with amsouth
sl industries inc sl 2nd qtr jan 31 net
the acquisition and financial growth policies of many company executives heavily influenced the ratings outlook
the committee voted largely along party lines with three democrats joining seven republicans to oppose the measure
chamber head noboru gotoh told a press conference the awaited economic package should be powerful enough to push up japans gross national product gnp by about two pct
these spreads will have to be widened if the dollar is to be stabilized
mony real mym reports portfolio
in addition provisions for borrowing to finance the buffer stock have now been eliminated ruling out speculation
dart group said it offers to buy supermarkets general at 4175 dlrs shr
public credit director mauricio cabrera said colombia plans to launch a foreign bond issue in the second half of 1987 possibly for 60 mln dlrs
exchange rates almost within g 6 levels sumita
junk bond traders said they thought this to be the second largest junk bond deal ever brought to market
the trading house officials said miti had asked them to undertake foreign exchange transactions with due consideration to the adverse effects excessive exchange rate movements would have on the economy
brazilian and us trade officials held the first of a three day meeting today in brasilia to discuss the issue
kenyan farmers are anxiously awaiting the arrival of the long rainy season which is due to start about now
the balance is payable over three years
greece bought a total of 55000 tonnes of french maize when it tendered yesterday initially for 30000 tonnes of april delivery trade sources said
cocoa producers european community ec consumers and all consumers separately reviewed technical details of a buffer stock rules package distributed yesterday
shr 12 cts vs 13 cts net 414968 vs 449533 revs 5726722 vs 5276627 six mths shr 23 cts vs 33 cts net 779981 vs 1116857 revs 113 mln vs 113 mln
he also said he did not think there would be a trade war with japan because japan had too much value in exports to the united states to risk such a war
gasoline demand averaged 693 mln bpd up 40 pct from 667 mln last year while residual fuel demand was 131 mln bpd off 79 pct from 142 mln the eia said
ranks hovis mcdougall plc rhmll said it was making an increased and final offer for the avana group plc avnal the company already holds about 229 pct or 71 mln avana ordinary shares
debt servicing cost burma 162 billion kyats in 1985 1986 while foreign exchange earnings export revenues plus loans and aid totalled 323 billion kyats in the same period the council said
mobil has moved to reduce debt at high interest rates which may reduce interest payments
sri lanka to uproot or bud diseased rubber trees
proceeds from the sale will be used for general corporate purposes the company said
in his letter the contents of which were released today tamura said a miti survey carried out at the beginning of march showed japanese producers were not selling at cut rate prices in asian markets
group raises nash finch nafco stake
in 1986 the company reported a loss of 6565000 dlrs or 91 cts a share
den norske stats oljeselskap a s statoil statol operator on norways north sea veslefrikk oil field has placed field development contracts totalling 15 billion crowns with two domestic yards the company said in a statement
merrill was the arranger for that program and will act as one of the dealers along with salomon brothers international ltd and swiss bank corporation international ltd
the west german finance ministry declined to comment on weekend criticism by us treasury secretary james baker of recent west german interest rate increases
arango described measures adopted here yesterday including a lower export registration price as a major change in colombias coffee marketing policy
robertson said his group has spent a total of 59 mln dlrs on its investment in the company so far
the ministries said the new prices aimed to ensure farmers profits and meet higher living costs
zambia cuts prices as troops patrol copperbelt
the market is likely to try the 140 yen level in the near future and at that time if operators see the g 7 nations failing to coordinate intervention they would see the louvre accord as abandoned and push the dollar down aggressively hirabayashi said
permian raises crude oil postings 50 cts a bbl wti to 19 dlrs
but only saudi arabia met its obligations while the others failed because of falling income due to lower oil prices
the kingdom of belgium is launching 100 mln swiss francs of seven year notes with warrants attached to buy gold lead mananger credit suisse said
irna received in nicosia said an informed source at the iranian oil ministry identified the two platforms as resalat and reshadat about 60 miles from irans lavan island oil storage site
first chicago corp said its first national bank of chicago raised its prime rate to 7 3 4 pct from 7 1 2 pct effective immediately
a spokesman for the workers said they would continue their strike until authorities agree to their demands for higher pay and other benefits
peter marcus of painewebber inc is neutral on the group although he said the earnings outlook is improved through the third quarter
under the proposal which would be undertaken as a court approved plan of arrangement shareholders of murphy oil co ltd of calgary alberta canada would be offered the option to receive 31 dlrs canadian a share cash or the equivalent market value of common shares of the parent company
society for savings socso forms parent
peres said the price policy of the orange juice was based on market conditions
mead said its first quarter benefitted from stronger market conditions and improved operations
press reports that deutsche was planning a takeover of lloyds bank plc lloyl were without foundation he said
the offer would be made through its bp north america inc unit and was intended to commence not later than april 1
stronger domestic demand growth in the major industrial countries would help give balance to the current world recovery he said
countrywide transport cwtso 3rd qtr net
congress eager to find budget savings launches a review of the us agriculture departments generic commodity certificate program tomorrow amid signs usda and the general accounting office gao are at odds over how much the program has cost us taxpayers
it said the plant employs 300 people
comdata said the terms are subject to the condition that wcas affiliate investors would own a minimum of 60 pct of the fully diluted stock of the new entity
fed data suggest us credit policy is on hold
escagen corp said it has completed an initial offering of common stock raising 18 mln dlrs and has completed its previously announced purchase of the assets and business of international plant research institute
oper shr 27 cts vs 29 cts oper net 135 mln vs 146 mln revs 1046 mln vs 1103 mln 12 mths oper shr 410 dlrs vs 366 dlrs oper net 205 mln vs 1868 mln revs 14 billion vs 13 billion note 1986 12 mths oper net excludes extraordinary gain of 217 mln dlrs or 46 cts per share from sale of virginia service territory to virginia power
the spokesman noted the final dividend decision rests with the supervisory board
stocks on sept 30 1986 at 947 vs 947 last month
hovnanian enterprises inc said the companys earnings for year would exceed the 165 dlrs a share previously announced and could go as high as 175 dlrs for fiscal year ended feb 28 1987
capital rose to 5351 billion dlrs from 5317 billion dlrs in december
premier says yugoslavia will pay its debts
the san juan basin royalty trust said proved reserves as of december 31 were estimated at 2831 thousand cubic feet of gas and 1087000 barrels of oil
fellner noted that the exchange rate was to remain the leading edge of monetary policy but said the authorities were likely to be extremely cautious on this front
new measures are planned to combat vat avoidance he added
bp could also have bought up the remainder of standard shares considerably cheaper had it moved six months ago
he said he may buy more arden group shares or he may sell some or all of his current stake
it said the recognition comes as a result of repayment of a loan which was granted when the complex was sold
pakistan will hold an import tender tomorrow for 6000 tonnes of refined bleached deodorised palm oil for second half march shipments traders said
shell canada ltd 72 pct owned by royal dutch shell group anticipates an improved level of earnings in 1987 assuming a continuation of prices and margins that existed at the end of 1986 and early 1987 the company said in the annual report
van ommeren plans 75 mln guilder bond issue
53 weeks to april 4 1987 share basic 222p vs 216p fully diluted 216p vs 199p final dividend 63p vs 57p making 86p vs 77p pretax profits 1292 mln stg vs 1160 mln turnover 10881 mln stg vs 9684 mln profit from retail operations 1333 mln stg vs 1156 mln tax 401 mln stg vs 365 mln profit after tax 891 mln stg vs 795 mln extraordinary items debit 07 mln stg vs debit 24 mln note full name is storehouse plc sthll
the division includes 60 operating supermarkets in five states most of which are in utah idaho and wyoming together with distribution and manufacturing facilities safeway said
asked in an interview if it was time to consider a marketing loan for soybeans lyng said i dont think so
the operation will put the outstanding bill supply at about 1900 billion yen money traders said
economists would also not rule out an outright bill pass early this afternoon
two new uk tax relief measures for oil producers announced today are aimed at encouraging developments in the north sea to go ahead and boost opportunities for the offshore supplies industry the inland revenue said in a post budget statement
the economists said the service sector should grow as the government stimulates domestic demand under its program to transform the economy away from exports
the smoothed seasonally adjusted deficit on invisibles was 234 mln nz dlrs against 236 mln dlrs in march and 255 in april 1986
the transaction is structured as a merger of liberty with a duly formed unit of equimark the company said
oilseed processing at the mill has been at a standstill since december 19 and the company has declared force majeure for deliveries of soymeal and soyoil ahead to may
industry grew at 111 pct in real terms in 1986 compared with 66 pct in 1985 while agriculture expanded 74 pct compared with 28 pct
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
baker fentress and co bkfr votes dividend
audio video affiliates inc said it has filed suit against dixons group plc cyclops corp alleghany corp y and others in connection with dixons recently completed tender offer in which it raised its ownership of cyclops to 56 pct
the agreement assures that the unit meets its obligations on time and requires it to operate within specific guidelines
total shut a 12 inch line that runs across the ouachita river from wynnewood to ardmore with a capacity of 62000 bpd as well as several smaller pipelines a few inches wide with capacities of several thousand bpd or less zollinger said
the indians are capable of purchasing a lot of taking care of themselves
treasury secretary james baker said that some of the trade bills proposed by congress conflict significantly with certain basic principles the reagan administration considers critical
jacobs said he and fellow investor carl pohlad continue to hold a stake in allegheny international inc ag in august they disclosed in a securities and exchange commission filing that they had acquired 854900 shares or 79 pct of allegheny and would consideer seeking control of the company
i would rather describe this as savings coming from eliminating non essential activities as we purify the exploration and production business there are some people associated with those activities but it is more a matter of cutting and trimming rather than wholesale changes blackburn said
the february figure provisionally gives a trade surplus for 1987 of 180 mln crowns against a 304 billion deficit in the same 1986 period
but real growth in consumption will ease next year
according to the information of state monitoring organs the padding of figures makes up one and a half to three per cent of the volume of production alexei sergeyev told the official newspaper sovetskaya rossiya
it did not detail second quarter profit
the agency noted that chrysler would assume substantial debt and unfunded pension liabilities as well as two inefficient production facilities
the european community is willing to offer limited concessions to the united states on one of two major issues which threaten to poison their trade relations next year an ec commission spokesman said
as alternatives to the rate increase the company has also proposed allowing la electricidad a grace period on payment of the exchange risk premium to the central bank a longer period to pay it or a soft loan from the government
after bass strait the onshore cooper and eromanga basin is australias largest oil and gas producing area with current gross oil production of 45000 barrels per day bdp gas liquids output of 30000 bpd and gas sales of 480 mln cubic feet a day the csr esso statement said
wellemeyer said that sharp declines in us oil production could push demand for opec oil above 20 mln barrels per day as early as 1989 and up to 24 mln barrels per day by 1993
video display corfp said it has reached a tentiative agreement to sell its existing cable television business for undisclosed terms and expects to report a gain on the transaction
they said they heard of the closure from ibc officials but no officials could be reached immediately for confirmation
he said the philippine government had never asked the bank to finance land transfers and the banks position should not be taken to mean that it ruled out any lending for the program
he saw good prospects for consumer industries
kms industries inc kmsi year net
gulf states utilities co said auditor coopers and lybrand has issued a qualified opinion on 1986 financial statements
opec conference president rilwanu lukman said the group was producing well below the 158 mln bpd ceiling it set in december partly because liftings had been delayed or postponed by customers unwilling to pay fixed opec prices
it said shareholders will vote at the april 23 annual meeting to increase authorized shares to 25 mln from 10 mln
but he would not indicate what the chief considerations for this were for the government
olson industries inc said it is in final negotiations on the sale of its remaining egg operations and expects the sale to generate a charge of about two mln dlrs against 1987 net income
in addition to the strong contribution by k mart stores all our specialty retailing companies had excellent february sales said k mart chairman bernard fauber
natioonal medical enterprises inc 3rd qtr oper shr 46 cts vs 51 cts
but he said the gdp rise came as no surprise given the growth in exports disclosed in other statistics
cofab inc said it acquired gulfex inc a houston based fabricator of custom high pressure process vessels for the energy and petrochemical industries
dawkins said he sees the round as providing a timely opportunity to secure further meaningful trade liberalisation in all sectors and to restore confidence in the multilateral system
montreal trustco inc is issuing a 100 mln canadian dlr 8 1 2 pct bond due may 6 1992 at 101 pct lead manager societe generale said
the dollar fell to 15235 40 yen from 15335 40 last night
ratings lowered include those on usxs senior debt to ba 1 from baa 3
the ministers meanwhile also continued talks on making their policy coordination more binding and one canadian finance minister michael wilson said good progress was made
terms were not disclosed
the inquiry will be required to take into account changes which have taken place in the industry as a result of the agricultural policies of major wheat producing countries and the industrys capacity to adjust to any recommended changes he said
separately the federal home loan bank board said victor federal savings and loan association of muskogee okla was placed into receivership
it said in most of europe and in japan raw materials and oil will cost less in domestic currency in 1987 than in 1986
baker reiterated that the ministers at the paris meeting agreed that their currencies were within ranges broadly consistent with underlying economic fundamentals and that further substantial exchange rate shifts could damage growth and adjustment prospects he added in these circumstances we agreed to cooperate closely to foster stability of exchange rates around current levels
the us feeder steer price or usfsp as posted by the cme is calculated by cattle fax and represents the price used for cash settlement of the cme feeder cattle contract
arrivillaga said the government could solve most of its financing problems by devising effective instruments to compensate landowners
greenspan just does not have the intuitive feeling one banker said
non callable for life the issue is rated aaa by moodys investors service inc and aa by standard and poors corp
industrial production growth is along the lines of what the fed wants the energy products component of ppi rose 40 pct in february after a 98 pct increase in january
the failure of the deal will doubtless encourage japanese firms to take a lower profile in attempts to acquire us high tech firms but they are unlikely to stop analysts said
south jersey industries inc sji 1st qtr net
today he was returning to jakarta from a visit to world bank funded projects in eastern java and was scheduled to meet leading economic ministers in the afternoon
it said the well flowed oil from sands at an average rate of 1440 barrels per day from 2131 to 2135 metres through a 6mm choke
lowrance electronics inc leix 2nd qtr jan 31
syntech interenational inc syne 4th qtr net
first national holders approve holding company
for poehl the significance of the february louvre accord was that the united states agreed to join efforts to stabilise currencies
the reports earlier this week said that cable would be offered a five pct stake up from an originally proposed three pct
the diplomats said they knew of no deal for moscow to provide a naval escort for its own vessels but the idea of protection is implicit one said
viner earlier reported a fourth quarter loss of 918000 us dlrs after a 15 mln dlr writedown of its stake in hecks
it said the new notes will rank senior to the companys existing 14 1 2 pct senior subordinated debentures of 2001 and 15 1 2 pct discount debentures due 2004
mountleigh group seeks 100 mln stg facility
manufacturers hanover corp mhc and other banks told texaco it would cut off a one billion dlr credit line texaco said in the court filing
in a filing with the securities and exchange commission industrial equity which is principally owned by brierley investments ltd a publicly held new zealand company said it bought 362700 wrather common shares between feb 13 and 24 for 66 mln dlrs
progressive shares ended at 435 dlrs rainbow at 342 and bil at 417 at the close of new zealand stock exchange trading today
3 hold caught fire on october 15
witco corp wit offers debentures
however chairman randall fields told a news conference the company would not move into any new countries during 1987 but would intensify its efforts where it already had stores
shr 80 cts vs 70 cts shr diluted 76 cts vs 67 cts qtly div 33 cts vs 33 cts prior net 7879000 vs 7007000 nine mths shr 233 dlrs vs 201 dlrs shr diluted 222 dlrs vs 192 dlrs net 230 mln vs 200 mln avg shrs 9890148 vs 100 mln note dividend pay dec 10 record nov 20
moniers independent directors have recommended etls bid
the company also altered its employee retirement and stock incentive plans to assure continued protection and benefits for employees in the event of a hostile takeover
canada corn decision unjustified yeutter
talking to reporters funaro said this attitude would not help resolve the crisis started when brazil suspended indefinitely interest payments on 68 billion dlrs in external debt on february 20
they will be underwriting three mln dlrs each instead of five mln dlrs
however economists said it is almost certain that the fed is aiming for much lower discount window borrowings than witnessed this week
dart group corp darta which wants to acquire supermarkets general corp for 162 billion dlrs is not likely to give up without a fight if its target seeks another buyer arbitrageurs said
heavy rain fell last sunday in parts of guangdong ending a particularly arid dry season and marking the start of the flood season it said
chanthong pattamapong a commodities trader asked to to draw up the study said if the maize futures market succeeds it may be extended to other commodities perhaps sugar and rubber
that would be little changed from the performance expected this year
earlier today a morgan guaranty official while declining to reveal the pricing on the facility said that banks would be compensated fairly since this is a special purpose facility which must be completed quickly with the signing expected in about 10 days
demand came mainly from west germany and switzerland
bankamerica says it expects to report a profit for first quarter 1987
the closest the board came to discussing quotas was a briefing by the guatemalan ico delegate rene montes on a recent latin american producers meeting in managua delegates said
the sunflower harvest advanced to between 20 and 23 pct of total planted area versus 15 to 18 pct a week ago
however the agency pointed out that a substantive improvement in the large banks financial positions has acted as a counter balance to the latin american debt situation
trimac ltd year net
the yield floats opposite of libor he said
moodys may downgrade duquesne light dqu debt
macmillan bloedel mmblf to redeem debentures
the government has carried out eight flotations as well as the private sale of telephone group cie generale de constructions telephoniques cgct since its denationalisation scheme began last december with the sell off of glass makers saint gobain sgeppa it added
yesterday the company said it agreed to sell the division which has annual sales of about 300 mln dlrs and is based in long beach california
icn icn buys stake from eastman kodak ek 
north carolina federal savings and loan association said it has raised its prime rate to 7 3 4 pct from 7 1 2 pct effective yesterday following moves by major banks
money supply growth was 114 pct last year
elaborating on plans disclosed in outline last september company officials said current smelting capacity of 390000 tonnes a year would be cut to between 250000 and 260000 tonnes by 1989 or 1990
bankamerica bac completes mortgage unit sale
consumer spending had a 04 negative impact
hodel urged congress to approve oil exploration in section 1002 of the arctic national wildlife refuge in alaska
he said the damage was probably more limited in southern and central regions and most widespread in the north
the move suggested it had reached agreement with depositors using the bureau the postal savings system of the posts and telecommunications ministry and the japan welfare annuity of the ministry of health and welfare the sources said
the company said interest costs from several acquisitions affected results
they said the import would be financed by the islamic development bank idb which signed an agreement with pakistan earlier this week in jeddah saudi arabia
canada launches 12 billion dlr bond issue
bank of france sees pickup in industrial activity
the more pressing problem facing santa fe is overcoming difficulties in merging its two railroads the atchison topeka and santa fe railway co and southern pacific transportation co
park communications inc parc 1st qtr net
citadel holding corp said it has settled its litigation with great western financial corp
but he added that the recovery will be slow
brazil and its bank creditors failed to achieve any breakthrough in debt talks here last night after brazil refused to say when it would resume interest payments
brazils decision jolted the worlds financial community as the country is 108 billion dlrs in debt including some 68 billion owed to commercial banks
the boycott legislation now goes to the upper house for formal ratification later this week parliamentarians said
but despite a healthy balance of payments surplus and a gradual improvement in industrial productivity the french franc was forced by speculators in january into a humiliating three pct devaluation against the west german mark its second since chirac took power
therefore it is crucial that a vehicle for selling the paper be found
trade in agricultural goods expanded by just one pct continuing a stagnant pattern in that sector this decade gatt said
the company said if this is approved it intneds to pay holders of class b stock a quarterly cash dividend of five cts per share and holders of the other common stock a quarterly cash dividend of six cts per share
an increase in orders through newly acquired subsidiaries abroad was balanced by the decline in the dollar
the bank of japan was thought to have bought a small amount of dollars at around 14930 40 yen dealers said
backing up the soybean producers active lobbying the us government has also indicated it will be prepared to retaliate with penal import taxes if the proposal does get through he said
even if we reach the 1987 target of 405 mln tonnes it cannot be considered adequate tian said
the us action will have a significant impact on the growing anti us feeling here another miti official said
macandrews and revlon also said they have reached a settlement with the plaintiff in the pending litigation challenging acquisition of the shares by macanrews
separately gen term which trades over the counter said it plans to apply for nasdaq listing after it completes the acquisition
however lynch would not comment specifically on the current market rumors
the sterling grace capital group said certain of these institutions have expressed serious interest in providing financing for the proposed acquisition of japan fund adding we are reasonably confident that the financing can be quickly arranged if the japan funds board of directors is willing to recommend the transaction to shareholders
the finance minister said the oil revenue projection is based on an average price of 1635 dlrs per barrel in 1988
maxicare maxio ends plans to sell unit
the company said the order and injunction would also prohibit dixons from exercising a lockup option granted it by cyclops and prohibit dixons for 10 business days from attempting to exercise any control over cyclops
safety kleen corp said it has tentatively agreed to buy an 80 pct stake in breslube enterprises of toronto for 14 mln dlrs in stock cash and equipment
february levels of m 2 and m 3 left the aggregates 182 and 208 billion dlrs under their respective upper growth limits set by the fed for 1987
tom kay administrator of the usdas foreign agricultural service said yesterday the requirement that more food aid shipments be carried on us vessels has been difficult to meet
things just arent adding up said steve slifer of lehman goverment securities inc
i am confident that further improvements in our trade performance will contribute significantly to us growth in 1987 he said
the company added that any holder choosing not to convert the bonds during either of the two special conversion periods will receive no interest on bonds still held after may one
australias proposals which aim to reduce us target prices and quarantine us wheat stocks would continue to place the burden of supply adjustment and reform on us farmers they said
small quantity of uk wheat sold to home market
government sources noted that the existing treatment of withholding tax on interest has enabled some banks to reduce interest rates on overseas loans thereby lowering the revenue to the uk treasury
results include extraordinary gains of 952000 dlrs or 11 cts per share in 1986 and 2569000 dlrs or 29 cts in 1985 from income tax reduction
brazil seamens strike ends
the bonds are non callable before april 14 1990 unless the share price exceeds 130 pct of the conversion price for 20 consecutive trading days
federal reserve board vice chairman manuel johnson said inflationary pressures are under control and noted wage and price pressures are very moderate johnson told a womens group that the us was not seeing the kind of cost pressures of the past
yesterday shearson lehman a subsidiary of american express co axp disclosed in a securities and exchange commission filing that it holds a 535 pct interest in chicago milwaukee
the project consists of a pipeline linking nueva teapa on the gulf of mexico with salina cruz on the pacific coast and construction of the second phase of the salina cruz refinery
the japanese officials also declined to detail what miyazawa and baker discussed on the subject of greater joint intervention in currency markets to stabilize the dollar or on independent american intervention
woolworth plans to open 650 more specialty stores in 1987
wang wan signs marketing agreement
the offering will be managed by sutro and co inc zehntel said
full terms will be announced either later today or tomorrow morning
this imf loan would be triggered if the price of oil falls below nine dlrs a barrel for three months
four sessions start 15 minutes later than kobe exchange sessions but both exchanges final sessions start at the same time
cojuangco said the shares were held in trust by ucpb and represented a blue chip investment
holly sugar corp hly sets regular dividend
the principle that this when issued trading should take place has been accepted by the executive committee of the international stock exchange said george nissen chairman of the gilt edged market makers association gemma its a question of how rather than whether he told 
earlier the company reported first quarter earnings of 342 mln dlrs or 109 dlrs a share versus 203 mln dlrs or 65 cts a share in last years first quarter
the philippines which met the first two venezuelan criteria but not the third was adamant that it could not accept a spread higher than 7 8 pct
dynalectron dyn buys aviation facility
ati medical inc atim 2nd qtr jan 31 net
qtly div two cts vs two cts prior pay may 22 record may eight
prior year figures include income from discontinued operations of 164000 dlrs or two cts per share gain on disposal of discontinued operation of 39 mln dlrs or 54 cts per share and operating loss carryforward gain of 37 mln dlrs or 48 cts per share
coming on the heels of a 43 billion decrease in m 1 for the week ended june 1 this means the nations money supply has fallen more than 12 billion dlrs in the past two weeks economists said
despite the fall in partial operating profits bfg paid an unchanged 20 mln marks into open reserves and transferred an unchanged 80 mln marks to its trade union holding company beteiligungsgesellschaft fuer gemeinwirtschaft ag from which amb has acquired the majority stake
brown transport co inc btci 4th qtr net
a spokesman for one of the companies toshiba corp tsbat said his firm would do just that and could announce its plans in the next week or so
the issue is payable on april 15 1987
diplomats saw few potential targets in lebanon now that most americans have left in the wake of kidnappings linked to pro iranian groups
north broken hill holdings ltd nbhame nbh said it will offer one norgold ltd share for every five nbh shares in the float of its newly created gold offshoot
it takes effect tomorrow and lifts restrictions on rates now limited to six pct on deposits of up to 180 days
this will take the companys capital to 6776 mln francs from the present 242 mln
normal crop production in ethiopia is about 648000 tonnes a year of which 250000 tonnes are produced from the belg small rains which fall at this time of year
securicor group and other subsidiaries will guarantee the facility
tobacco prices up 09 pct after a 20 pct january increase accounted for 30 pct of the index rise the department said
last week rumors circulated on wall street that the financial services giant was considering a spinoff of part of shearson and there was speculation it may be considering selling a stake to a japanese firm
despite mounting domestic and overseas pressure brazil has said repeatedly that it will not go to the international monetary fund imf for help in drawing up a new plan for fear that will only throw its economy into recession
full acceptance of the offer would involve the issue of 662 mln new willis shares or 282 pct of the enlarged total
loctite corp loc 3rd qtr march 31 net
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
the loan reference rate is based on longer term trends
remarks by two leading central bankers sparked renewed speculation in financial markets that a cut in the west german three pct discount rate may be under discussion currency dealers said
qtr ended may 2 shr 29 cts vs 22 cts net 1975000 vs 1403000 revs 681 mln vs 540 mln avg shrs 6722527 vs 6597492 nine mths shr 117 dlrs vs 92 cts net 7847000 vs 6017000 revs 2097 mln vs 1757 mln avg shrs 6687138 vs 6549197
fortune savings bank said it agreed to buy the deposits and assume the leasehold of a financial security savings and loan association fssl branch here
in addition the company said sealy inc of which its owns 82 pct redeemed the outstanding sealy stock held by michigan sealy thus increasing the companys stake in sealy to 93 pct
whittaker corp 1st qtr oper shr 17 cts vs 25 cts
but reforms including upgrading the quality of goods and allowing joint ventures with foreign firms will encourage modest export gains in future
issue price is 9716 pct
ali said the conference which began thursday and ended saturday evening had been too short for all necessary problems to be adressed
expectations for product stockdraws are already being reflected in firmer prices traders said
shr figures adjusted for five pct stock dividend declared march 31
huckaby said the campaign to urge a halt to domestic sweetener output increases is an effort to forestall further cuts in the sugar import quota now at one mln short tons
the chamber estimated the us strategic stockpile held 180444 tonnes of tin in december 1986 137744 tonnes in excess of of its original stockpile goal of 42700
on thursday minimum reserve holdings declined to 570 billion marks from 600 billion on wednesday but were well above the 532 billion held on tuesday
it added any shares repurchased would be added to the treasury and will be available for future issuance
medco containment mccs sets initial payout
these figures were down by 125 pct on last year in dollar terms due to exchange rate fluctuations and changes in how the figures were calculated fso sources said
he said this could bring about what he called a possible automatic capitalisation of those parts of debt interest that could not be paid and even the elimination of a portion of the debt
20 dlrs per barrel according to the state oil company petroleos de venezuela sa
national patent development corp npd in payout
it was above market expectations which had been for a rise of between one billion and three billion dlrs
the total comprised 392845 bags in new york an increase of 261 bags and 192710 bags in new orleans a drop of 500 bags
capital costs would be 223 mln dlrs with all new equipment and 500000 to one mln dlrs less with used equipment it said
in addition it said holders of american video convertible debentures agreed to exchange their holdings for about 380000 dlrs worth of paralax stock
the company has also set a dividend of 11 marks for new preference shares which were issued last year
palm oil production is expected to increase by over 70 pct in 1987 to 145 mln tonnes from 135 mln with exports rising to an estimated 720000 tonnes from 695000 tonnes in 1986 the report says
the loss reflected a combination of strikes plus scheduled and unscheduled refinery shutdowns for maintenance and inventory losses caused by government controls on both crude and product prices mobil said in a statement
the agency noted that usair has promised to give protective benefits to psa workers and that unions representing psa workers have collective bargaining agreements that provide such protections
they are non callable for five years
since then it has resisted pressure from main creditors for more currency adjustments arguing that past devaluations had failed to boost exports but raised local consumer prices
this brings the banks total help today to some 134 billion stg and satisfies the estimated shortage in the system today which it had earlier estimated at 13 billion stg
earnings per share after real tax not including the writedown 1238 crowns vs 1205 earnings per american depository receipt adr according to us accounting principles after real tax including the writedown 196 crowns vs 949 crowns
the issue is available in denominations of 1000 dlrs while the payment is april 27
he added that many of the fixed interest eurobonds dollar straights had been trading basis only for some time prior to this weekends news
benjamin said he would return to his consulting firm of anderson benjamin read and haney inc which he founded in 1984
allied supermarkets inc said it entered into a definitive agreement to sell its michigan operations for about 46 mln dlrs in cash and debt plus assumption of substantially all of allieds liabilities other than senior subordinated debentures
novar electronics corp said it expects improved earnings this year due to a rapid expansion of its logic one computerized buolding management system customer base and expectations of good crime deterrent business
lawson expects interest rate fall soon
factors depressing economic activity include the 6 1 2 year old iran iraq war on kuwaits doorstep which threatens the emirates vital oil export lifeline through the gulf and has sapped business confidence
ivan obolensky an analyst with the investment banking for of sterling grace and co said harper and row is one of the few remaining independent publishers with a back list of authors stretching back 200 years
paton reports us green coffee roastings higher
but salvage expert william cooper said passengers would have had problems getting off this type of ship because of its design
in addition some low income wage earners will be taken off the tax rolls he said
the company named kidder peabody and co inc as underwriter of the offering
the possible demise of the cooperative has set clearing houses scrambling for the trading business of the 85 regional and local cooperatives that comprise its membership
the issue has a call option and put option after four years at par and is guaranteed by union bank of switzerland
brooklyn union gas co said it has contracted to purchase up to 60 mln cubic feet of natural gas per day from shell oil co a royal dutch shell group rd sc subsidiary
for the full year these liabilities grew 774 billion dlrs after rising by 404 billion dlrs in 1985
the government realises that in order to remain viable bolivia will need to develop new exports
the world bank by its established policies cannot use its resources to finance the transfer of assets from one group to another
the bill approved by voice vote would establish trade missions made up of representatives of the departments of agriculture and state the agency for international development the overseas private investment corp market development cooperatives and private voluntary organizations
word on a decision was expected early tomorrow
animed vets expects to turn profitable
he declined to give further details
the long term growth in dependency on foreign oil is inevitable lichtblau said
upland minerals acquires brazil mining firm
dravo corp said it expects a first quarter loss of about 30 cts per share compared with a year earlier profit of one ct and said operating earnings for all of 1987 may not match 1986s earnings of 61 cts per share from continuing operations
shr 63 cts vs 49 cts net 5635000 vs 4330000 sales 1178 mln vs 962 mln year shr 221 dlrs vs 171 dlrs net 198 mln vs 152 mln sales 4651 mln vs 3885 mln note share adjusted for february 1987 three for two split
polysar in joint venture on finland latex plant
turkish central bank sets lira dollar dm rates
zimmer corp said it reached an agreement with its banks to boost its credit line by 43 mln dlrs
comprehensive care corp cmph quarterly div
the company said the note agreements were amended to reflect an easing of some financial covenants and an increase of interest to 135 pct from 130 pct until december 1990
leigh pemberton said he recognised there are some who would argue that interest rates are still too high and deter investment in industry
lister is a manufacturer dyer and finisher of cotton silk wool and man made fibres
nakasone says major nations committed in paris to stable dlr above 150 yen
he said the moves to encourage investment in the us are part of taiwans efforts to cut its trade surplus with washington which rose to a record 136 billion us dlrs in 1986 from 1985s 102 billion
the congressional budget office estimated that the proposed increase in the minimum tonnage requirement would have cost up to 50 mln dlrs per year senate staff said
it said the underwriters for this offerings may include smith barney harris upham and co inc goldman sachs and co and or salomon brothers inc
local mines cut combined daily tin concentrate sales to thaisarco a royal dutch shell group rdas unit to less than 20 tonnes earlier this month from a previous 40 to 45 tonne average commercial manager yoot eamsa ard told 
precision aerotech inc par 3rd qtr jan 31 net
interest received on loans was low with the prime rate at 65 pct at end 1986 but interest paid on savings was two pct
world rice consumption is projected to reach record levels in 1986 87 the report said as higher per capita incomes increased domestic production and low import prices have allowed people in many countries to substitute rice for coarse grains
the purchase valued at 148 mln dlrs follows the recent acquisition of londons johnson matthey commodities limited deak said
mcandrews and forbes holdings inc said it will offer 1850 dlrs per share for all of revlon group incs rev outstanding common stock
taft broadacasting co said its board of directors unanimously decided not to accept the pending buyout proposal of theta corp an investor group led by dudley taft
qtly div 1 1 2 cts vs 1 1 2 cts prior pay march 31 record march 13
developing countries exports declined significantly while their imports increased moderately although full statistics are not available yet gatt said
norways oil production rose 10 pct to an average of around 840000 bpd in 1986
these included measures to allow companies to balance their shares of prt exempt oil allowances through reallocation in two past periods of allowance utilisation
proposed offerings recently filed with the sec
petrolane partners lp lpg 3rd qtr loss
banque paribas which arranged a 220 mln dlr loan for ecuador last year to pre finance oil exports wants to adjust the terms of the facility to help the country recover from a devastating earthquake bankers said
feasibility studies are still being done on the carbozulia project with a definitive accord slated for august he added
in the year ended february 28 1982 the co op reported income of 174 mln dlrs and patronage refunds of 170 mln dlrs
douglas said in a budget statement the surplus is the first achieved in new zealand in 35 years
egypt soviets to renegotiate arms debt terms
however the officials travelling with japanese finance minister kiichi miyazawa and who asked not to be identified would not provide any details of how they wanted the accord which was signed by the six leading industrial democracies in february to be strengthened
bancroft convertible fund said the us district court for the district of new jersey issued a preliminary injunction enjoining zico investment holding incs tender offer for bancroft
the full names of the companies purchased from gallaher are formatura iniezione polimeri spa genoa and fip uk ltd weybridge
consumers power co said the federal energy regulatory commission approved the companys midland cogeneration venture as a qualifying facility under the public utility regulatory policies act
the ministry which considers two monthly comparisons to be a better guide to trends said output in january and february together fell around two pct against november and december
it gave this breakdown for opec crude output in mln bpd fourth qtr 1986 january 1987 february 1987 saudi arabia 49 37 38 iran 16 22 19 iraq 16 16 17 uae 13 12 12 kuwait 10 10 10 neutral zone 05 04 04 qatar 03 03 02 nigeria 13 12 12 libya 10 10 10 fourth qtr 1986 january 1987 february 1987 algeria 06 06 06 gabon 01 02 02 venezuela 16 16 16 ecuador 02 02 02 indonesia 13 12 12 total 173 165 161 the iea said while saudi production stayed below its quota of 4133 mln bpd actual sales might exceed output due to norbec stock disposals
reichhold chemical rci sets anti takeover plan
reserve bank cancels weekly nz t bill tender
a klm spokesman said klm already cooperated closely with air uk which runs 111 flights a week to amsterdams schipol airport from nine uk cities
lac lac intersects more gold at doyon mine
dutch parliament offers little help in port row
the state department renewed its warning to americans not to travel to iran because of what spokeswoman phyllis oakley called its virulent anti american policies and support for terrorism the threat to americans has increased significantly she said in announcing that the department was reiterating advice it last made in january
us subcommitee approves international debt bill
butler mfg co said it signed a memorandum of intent to acquire naturalite inc a manufacturer of skylights
brady emerys chairman john c
feds heller says dollars current level is appropriate
lindner tells sec he has had talks with taft on seeking control of company
originally guinea held 50 pct in the project and nigeria 162 pct with firms from several other countries also involved but the project ran into problems over funding and the slump in world iron ore markets
holden brown said allied lyons share price to corporate earnings ratio is now comparable with other leading companies in the food and beverage industry
cooperation between poehl and stoltenberg is all the more remarkable as poehl is in the opposition social democrats and was appointed by former chancellor helmut schmidt
the administrations interagency trade policy review group comprised of subcabinet level officials has not been asked to clear a request to offer moscow wheat under the eep officials at the us trade representatives office said
merry go round mgre sets stock split
overseas osg sees opec quotas key to rates
spreads against the mark remained around 10 basis points with some banks quoting only five point spreads
thus far they have been willing the eic said adding that if japan was deterred from buying us bonds the dollar would collapse
banks also face a heavy but temporary drain this month from a major tax deadline for customers
latest data for central bank money stock the bundesbanks main measure of money supply showed the measure was growing at 7 1 2 pct in january outside its three to six pct 1987 target
mim to acquire stake in german copper producer
security pacific expects brazil loan action to cut net by 72 mln dlrs
shr 83 cts vs 60 cts net 516063 vs 328468 revs 83 mln vs 57 mln noteshrs reflect 3 for 2 stock split
dillon read and co inc co managed the deal
ontario treasury bill yield edges up
the icch had been looking at cocoa market fluctuations over a period of weeks he said adding the markets basic stability had warranted a cut in deposit rates
nestle sa neszz said it would seek shareholder approval to issue participation certificates up to 20 pct of share capital instead of the current limit of 10 pct
twa has offered 52 dlrs per share for usair group
gencorp said these proposals could distract energy and attention from the real task at hand to respond to the tender offer in a manner which is in the best interests of the company its shareholders and its other constituencies gencorp said the proposal to increase its outstanding shares was made with the aim of declaring a stock split and a dividend increase
held said that since late 1986 smith barney analysts have spoken about the risk that interest rates could move higher and they continue to believe that an upward bias is likely to persist over the next few months
usda orange juice yield estimate
the fundamentals are good asked if metal prices will continue to rise durham said all i know is fundamentals cannot be ignored he said copper supplies are lower than they have been for almost 20 years
amcast acst completes sale of newman division
the companys board has approved the plan which was intended to thwart an unsolicited offer from gaf corp
indeed talk persisted last week that japanese investors are planning to re weight their portfolios in favour of the higher yielding markets at the start of japans new fiscal year on april 1
saying many will be suprised by the results he believes ge has shown through its acquisition of rca corp that it has a unique ability to buy a major business and reshape it pruning some parts and recombining parts with other elements of its 14 business areas
southland corp said it was told the securities and exchange commission ordered a private investigation into southland stock trading and statements made by the company this year
the property and casualty insurance companys chairman and chief executive officer martin j
monetary sources said the us proposal envisages using the indicators to make policy coordination agreements like the paris accord more binding
mickelberry corp mbc sets qtly payout
the bonds yield 610 pct at issue and will be sold from april 2 to 7
d p lowers minnesota power mpl debt rating
dixons said it has waived its condition that 80 pct of the fully diluted outstanding shares be validly tendered and not withdrawn
he said the united states must also do its share pressing for reductions in the federal budget deficit through spending cuts
seven oaks international inc said it has formed a new 80 pct owned subsidiary called seven oaks direct inc to offer a full line of telemarketing services
qtr ends march 28 shr loss 146 dlrs vs loss 49 cts net loss 2919000 dlrs vs loss 892000 dlrs revs 103 mln vs 115 mln avg shrs 2000000 vs 1836000 note full name of company is robert bruce industries inc
polaroid is working overtime on production of cameras and film so we expect first quarter earnings to be up about 40 pct ryan said estimating earnings of 70 cts a share in the first quarter compared to 52 cts a share earned a year earlier
high voltage cables from the power plant of afobakka have been cut and a bauxite mine at moengo has been shut he added
magma raises copper price 025 ct to 6575 cts
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
the company said london and scottish marine oil plc owns a 50 pct interest in the well and its spacing unit canadian worldwide 25 pct saskatchewan oil and gas corp 10 pct interprovincial pipeline ltds home oil co ltd 75 pct and scurry rainbow oil ltd srb 75 pct
a limited belgian issue of silver ecu coins with a face value of five ecus will go on sale from march 23 at a price of 500 belgian francs each a finance ministry spokesman said
the two additional properties comprised about 11 pct of its current value equity at year end southwest said
non callable to maturity the notes are rated a 1 by moodys and a by standard and poors
greece scraps us base closure request
fees are 1 1 4 pct for selling 1 4 pct for management and 3 8 pct for underwriting
the eventual turnaround in the monthly trade figures will reflect the impact of the decline in the dollar baldrige said
tokyo dealers see dollar poised to breach 140 yen
mark iv iv unit to begin conrac cax tender
qtr ends dec 31 shr loss one ct vs profit two cts net loss 52922 vs profit 220041 revs 481832 vs 824554 six mths shr loss one ct vs profit four cts net loss 104129 vs profit 345515 revs 934685 vs 1465153
4 will be announced in mid april
the deadline for a final determination is march 7
us energy chief rules out gasoline tax as way to avert pending oil crisis
he said they would have to get convertible currency and open their books and the soviets dont usually do that
beneficial bnl downgraded by moodys
he told a national press club luncheon there would be a number of tax proposals that could be debated if reagan sought a tax increase to help balance the budget
but few expect the calendar to be completely abolished
they said the world bank had insisted the two banks appoint independent auditors and draft revised charters
the partnership has already filed suit in us district court in columbus ohio seeking to block a vote on the proposals and to invalidate gencorps defensive preferred share purchase rights
given a strong guilder a further fall in the west german repo rate would trigger a lower special advances tariff forcing an official dutch rate cut analysts said
canada current account deficit up in quarter
transform said its fourth quarter profit was revised to 305082 dlrs or two cts a share from the previously reported 580955 dlrs which left the company with a fiscal 1986 loss of 249814 dlrs or two cts a share instead of the reported 26195 dlrs profit
mcguinness markets liquers brandy and other liquors and has entered the fast expanding wine cooler market corby said
uk smelter capper pass denied rumours that the company had declared or was about to declare force majeure on lead deliveries
by last september the yen had risen some 54 pct against the hong kong dollar from the end of 1985 the mark 43 pct and sterling 12 pct
however the ec and some us domestic groups have said the reagan administration plan to end all farm trade subsidies is unrealistic
it gave no details of ice conditions at the other major soviet baltic export harbour of klaipeda
merchant and investment banking 8147 mln vs 6322 mln bullion broking 475 mln vs 302 mln us government security dealing 294 mln vs loss 329000 investment management and unit trusts 1062 mln vs 788 mln other activities loss 312 mln vs profit 142 mln interest on loan capital 1782 mln vs 1490 mln
by replacing the product line earnings have soared he said of decs line of vax computers
zccm recorded a net loss of 718 mln kwacha in 1986 compared with a net profit of 19 mln kwacha the year before
benigno said the first two phases would complete the transfer of rice and corn lands and abandoned farmland as well as the transfer of land sequestered expropriated or foreclosed by the government and would cover 115 mln hectares
the discount rate generally moves in tandem with the three month treasury certificate rate
for example pork would be listed on the ingredients statement instead of mechanically separated pork under the petition the calcium content of the meat product would have to be stated on the label and the mechanically separated meat could constitute no more than 10 pct of the meat and poultry portion of the product
sixty pct were utilities 20 pct were issued by foreign governments or corporations and 20 pct were financial institutions he detailed
chairman freddie heineken said the company europes leading beer producer with six pct of market share in 1986 said sales increased by 63 pct to 421 mln hectoliters
horis godfrey a consultant representing florida and texas cane growers said florida cane is off to a good start because for the first time in several years there was no winter freeze
alleghney international ag faces added count
qtly div 40 cts vs 40 cts prior pay may 15 record may one
moodys investors service inc said it cut to caa from b 2 allegheny beverage corps 112 mln dlrs of subordinated debt
however several congressional sources said they expect a broader 0 92 provision to emerge again when the house agriculture committee is faced next month with the need to make spending cuts in the agriculture budget for fiscal 1988 as part of an overall deficit reduction package
one option would be to try to grow the tire business through combination or an acquisition reed said
the strike began on june 11
latin american debtors feel they have complied with their side of the bargain slashing public spending devaluing currencies cutting inflation privatizing state enterprises and introducing debt equity schemes
in france the distillation unit at societe francaise de bps lavera refinery has been closed for maintenance since march 2 and is due to restart early april
the us claims the ec directive due to come into effect on january 1 threatens to cut 100 mln dlrs worth of us meat shipments into the ec
since the administration made known its reflagging plans congressional leaders complained they had not been consulted and some charged the policy could lead the united states into the 6 1 2 year old war between iran and iraq
in addition the company said its lenders agreed to temporarily reduce the net worth requirement of its revolving credit and term loan pact to 140 mln dlrs from 130 mln
dealers in oil markets were now waiting to see if opec was able to control production or whether the days of cheating and producing over quotas has begun anew it said
traders projected soybean exports at 16 mln to 18 mln bushels down from 186 mln bushels a week ago and 203 mln bushels a year ago
the new pipeline will enable japan to load mexicos maya crude oil at salina cruz rather than in the gulf of mexico
shr profit nil vs loss one ct net profit 1136 vs loss 42840 revs 1490718 vs 1151176 nine mths shr profit three cts vs profit five cts net profit 89900 vs profit 150523 revs 4520393 vs 4078441
delta business systems inc said it has completed a previously announced merger into alco standard corp
britoil had received some 100 responses to its announcement of a desire to sell the assets and was asking for bids by the latter part of april
the state department says many us diplomatic missions overseas are on high alert for possible retaliation from iran for mondays attack on two iranian oil platforms by american forces in the gulf
a major policy change in early 1985 helped lay the basis for sustained non inflationary growth and external competitiveness had improved but economic performance overall had sharply deteriorated since june 1985
oil companies such as ashland oil inc ash the kentucky based oil refiner and marketer are also shopping for money making petrochemical businesses to buy
however the company said it has been assured that the orders will be placed beginning in its fiscal third quarter and that it expects a strong rebound in earnings for the third and fourth quarters
ecuador to export no oil for 4 months official
all the shares are being offered by national heritage which will trade under symbol nher on nasdaq through lead underwriter drexel burnham lambert inc
the transaction is subject to the execution of definitive agreements certain governmental approvals and approvals by the boards of directors involved iu international said
they say it is blurred by the poor performance of polands economy and dismiss the 15 billion dlr figure as illusory
while agreeing with the banks commitment to defend the guilder strongly some bankers want the bank to make more use of the range within which the guilder and the mark can fluctuate against each other in the european monetary system ems roelof nelissen chairman of amsterdam rotterdam bank nv amro said the central banks policy was overcautious
dowa mining co ltd said it will start commercial production of gold copper lead and zinc from its nurukawa mine in northern japan in april
its the billion dollar question said richard obrien economist at american express international bank in london
refco inc senior vice president michael connery also noted that the market is showing very little momentum and lacks retail interest
transco said that anticipated oil and gas prices during 1987 would continue to exert pressure on the profitability of most energy companies
but it added that a substantial decline in financial leverage is unlikely
acceleration corp acle 4th qtr
traders said lme three months delivery already attracting speculative buying could rise to 320 330 stg on current firmness while nearby tightness could widen the cash premium to 20 from four
the yunnan 1986 87 sugar harvest was a record 521500 tonnes the provincial daily said
rudy boschwitz r minn intends to offer an amendment to one of the bills that would suspend the minimum planting requirement for all 1987 wheat feedgrain cotton and rice producers an aide said
it estimates export earnings will have dropped by 71 billion dlrs between 1985 87 as a result of falling commodity prices
a review of south africas economy by the economic subcommittee of commercial banks is nearing completion and should be announced shortly the bankers said
lorimar telepictures corp said it accepted resignations of three executives at karl lorimar home video its wholly owned subsidiary
india bought eight cargoes of white sugar at a buying tender this week but also gave sellers options to sell an extra eight cargoes at the same prices traders said
asked whether reagan was ready to cast a veto rodriguez said as yet the administration is not in a veto frame of mind
the female unemployment rate in may was unchanged from april at a record 31 pct
the only one the repackaging favours is morgan a trader said
qtly div 30 cts vs 30 cts prior pay april 27 record april 13 note companys full name is republic savings and loan association of wisconsin
investor sumner redstone who leads one of the two groups vying for control of viacom international inc offered to sweeten his bid for the company by 150 dlrs a share cash and 150 dlrs in securities
his involvement in this issue also seems to signal that congressional interest in the debt problem has to be taken more seriously now than in the past
japans ntt forecasts profits fall in 1987 88
the expansion will double the facilitys pulping operation to 424000 short tons per year
the saitama bank ltd is issuing a 100 mln dlr convertible eurobond due march 31 2002 paying an indicated two pct and priced at par the banks london office said
agriculture ministry officials said they are not considering cuts in import duties on chocolate to help ease friction with the united states over agricultural trade
the oil companies amoco corp an arco exxon corp xon mobil corp mob sohio shell texaco inc tx and union oil had said that voiding previously granted leases would result in staggering financial losses
sosnoff already owns about four mln of caesars 30 mln common shares now outstanding or a 133 pct interest on a primary basis
shr 18 cts vs 15 cts net 33 mln vs 25 mln revs 452 mln vs 268 mln note1986 net includes seven cts or 12 mln dlrs tax loss carryforward
the program involves setting a realistic exchange rate for the naira which was over valued for many years liberalising imports boosting agriculture removing subsidies and reducing inefficient government participation in the economy
brazil loans total 300 mln dlrs of which about two thirds are affected by its suspension of interest payments on its medium and long term foreign debt
comissaria smith said spot bean prices rose to 340 to 350 cruzados per arroba of 15 kilos
period ended december 31 1986 oper shr loss 108 dlrs vs loss 84 cts oper loss 7700000 vs loss 1700000 revs 11800000 vs 9800000 note current shr and net exclude extraordinary gain of 300000 dlrs or five cts shr versus extraordinary gain of 200000 dlrs or four cts shr
dickey
their combined revenues are about 500 mln dlrs
northern trust corp said it filed with the securities and exchange commission to offer up to 150 mln dlrs of debt securities
he estimated a price of 75 dlrs a share
raised were the pairs senior debt to bb plus from bb minus
mohammed said delegates will have a much clearer indication of prospects for an accord after details of the rules are elaborated by erbynn and after producers and consumers meet separately later today to examine the scheme
chemclear inc said it terminated merger talks with environmental systems co esc chemclear said it was unable to reach agreement with environmental which was considering buying chemclear
a company spokesman said prior results were not comparable due to its august 15 issue of 30 mln common shares
west german aid to bolivia will rise to 91 mln marks in 1987 from 50 mln in 1986 west german president richard von weizsaecker said
fourteen ships are stranded at the port
istats industrial production index base 1980 not seasonally adjusted registered 933 compared with 966 in january 1986
in a filing with the securities and exchange commission the kaufman and board group which includes sun life group said it sold 325000 quaker state common shares between feb 27 and march 23 at prices ranging from 2800 to 3100 dlrs each
chock full onuts chf sells convertible debt
the cumulative net 1985 earnings of the kingdoms banks had sunk to 8279 mln riyals from 266 billion in 1982 before world oil prices tumbled
getty petroleum gty sets stock dividend
morgan stanley is the underwriter it said
the tasmanian public finance corp guaranteed by the state of tasmania is issuing a 46 mln australian dlr eurobond due april 23 1992 paying 14 3 4 pct and priced at 101 1 8 pct lead manager deutsche bank capital markets said
mark iv iv starts bid for conrac cax 
the highly visible drama involving the yens sharp rise against the us dollar is obscuring the fact that the japanese currency has hardly budged against major european currencies thus creating a new set of exchange rate distortions japanese and european research officials said
industry commissioner karl heinz narjes told ministers capacity was 30 mln tonnes in excess of requirements and that this excess ought to be eliminated by the end of 1990
another 70000 shares of the stake are held by an affiliate it said
italys foreign trade minister mario sarcinelli commenting on speculation in the italian press said a sharp balance of payments deficit in may could not be attributed to recent moves liberalizing the purchase of foreign securities
australian markets are booming as foreign fund managers redirect capital away from the united states and other traditional markets analysts said
theyve been on a rampage against foreigners the broker noted that two months ago venezuelas central bank quietly announced that banks doing foreign exchange business outside venezuela would have to respect a new 200 pct reserve requirement
call money and period rates were barely changed in the week
wall street analysts and traders had not expected coniston to abandon its pursuit of allegis as a result of the allegis defensive measures
in the first five 1986 87 months turnover abroad showed a three pct increase kaske said without giving figures
but moodys said the negative effect on chryslers profitability and cash flow would be temporary
energy us oil output
montana power co mtp votes quarterly dividend
the company said the new posted price for wti and wts is 19 dlrs a barrel
he also said that the south korean won should begin to move to reflect underlying economic fundamentals otherwise in two or three years time korea will be in the same situation that prevails in taiwan turning to the us deficit with japan of more than 50 billion dlrs yeutter said that this situation was not sustainable
the transaction was valued at 500 mln dlrs
millen specializes in jewish religious cards and also sells traditional greeting cards
oil traders said one japanese refiner came into the market to but 10 cargoes of may dubai which sent prices up on mideast sours with dubai trading up to 1650 dlrs after trading yeterray as low as 1563 dlrs and then spilled over into the north sea crude oil market
wheat growth was halted by cold weather and rain early in the week prevented fertilizer application and weed spraying
however the holders of the bonds presumably will be faced with lower yields
us bank net free reserves 660 mln dlrs in two weeks to march 11 fed says
new zealand press group buys more texas newspapers
last year madagascar exported 2189 tonnes of high quality cocoa up from 1624 in 1985 the trade ministry said
alusuisse plans further aluminium capacity cuts
business loans on the books of major us banks excluding acceptances fell 822 mln dlrs to 27794 billion dlrs in the week ended march 25 the federal reserve board said
the reserve bank said it cancelled the regular weekly treasury bill tender scheduled for march 3
the blocked account is part of a debt accord recently reached with south africas foreign creditor banks
consolidated net loss 554 billion francs vs loss 1093 billion
avon says it to buy giorgio inc a fragrance company for 185 mln dlrs
that decision since followed by chase manhattan and security pacific corp may profoundly alter the strategy of creditors and debtors alike for tackling the debt crisis
the company today reported 1986 earnings from continuing operations of 5255179 dlrs down from 176 mln dlrs a yuear earlier due to lower prices for crude oil and pipeline capacity constraints
treasury balances at fed rose on march 23
firms hit included zahnradfabrik passau gmbh and aerospace group messerschmitt boelkow blohm gmbh
the imf staff has also cast doubt on the japanese governments forecast of 35 pct economic growth in the fiscal year beginning april 1
disappointment at the lack of progress on quotas forced coffee futures in london and new york to new lows today traders here said
imperials chemical business earned 17 mln dlrs in 1986 compared to three mln dlrs in 1985
crime control inc 4th qtr net loss
to fujitsu ltd another major electronics firm
rio grando do sul state passo fundo nil santa maria 70 millimetres cruz alta 85 mm sao luiz gonzaga 44 mm
waste recovery inc wrii 4th qtr net
the total inflation rate so far this year is therefore 13 pct allowing for januarys revised figures it added
the privatisation commission values bull at a minimum of six billion francs the press release said
1st source srce completes merger
todays turmoil in the us financial markets with bond and stock prices tumbling in the dollars wake is evidence of a major shift in investor psychology that is likely to spell more turbulence ahead economists said
in addition to the direct expenses fruehauf said operating results were adversely affected by an unquantifiable amount due to the disruption related to a proxy contest and attempted hostile takeover which started in early 1986
transform logic toog revises results downward
growth will slow sharply in the next months due to weakness in the key housing and auto sectors and could be further hampered unless consumer spending picks up they say
the federal home loan mortgage corp adjusted the rates on its short term discount notes as follows maturity rate old rate maturity 32 days 600 pct 610 pct 1 day
the ec claims that spain and portugals entry into the group has improved trade conditions for japan but has been unsatisfied with japanese offers of compensation
but at those markets steers averaged 708 lbs in february compared with 718 lbs last year grimes said
syms corp sym 4th qtr
shr four cts vs two cts net 240902 vs 106054 revs 3408481 vs 2566769
carteret said it may open more loan offices in virginia and maryland
the january surplus last year was 119 billion dlrs
robins said the filings were made with the us trustee overseeing its chapter 11 bankruptcy case
time also announced its subsidiary time life overseas finance corp nv intends to call for redemption all of its 100 mln dlr outstanding 10 3 4 pct guaranteed notes due january 26 1990
this follows a steady decline in the call money rate over the past 10 days and signals from the finance ministry that the time is ripe for a fall dealers said
they are public documents and there is nothing secret about it he told 
new progress is expected in all main sectors except capital goods where production will remain at its present level the report added
the government said the icebreaker was needed to back up the countrys claim of sovereignty in the arctic
albertsons abs adopts stockholder rights plan
first interstate i sells capital notes
the new banking bill updating the 1979 banking act is the third leg of the conservative governments legislation for the supervision of financial institutions
winthrop insured mortgage ii wmi sets payout
william reynolds chairman and chief executive officer of gencorp the company stated that if gencorp could prove the company was worth more general partners would be willing to consider an even higher price
this follows a cutback of more than 20 pct in the first three months of the year
in a filing with the securities and exchange commission wedge said it bought 123200 tvx common shares at prices ranging from 800 to 10625 dlrs a share
navistar nav still expects higher 1987 net
but he added the industry could not wait for legislation to pass and that action was required now to help the depressed electronic industry
usdas economic research service for example has found that between june and august last year the 215 mln bushels of corn exchanged for certificates lowered the price of corn by between 35 and 45 cents per bushel
emhart said industrial products should account for about 62 pct of projected 1987 revenues of 23 billion dlrs while consumer products should account for about 20 pct of those revenues and information and electronic systems about 18 pct
transamerica natural gas corp said it is seeking two billion dlrs in punitive and actual damages in a lawsuit it filed today against coastal corp its chairman and certain coastal affiliates
jp morgan and co inc jpm sets quarterly
the purpose is to discuss the current situation for producing and marketing wheat and help set the legislative and regulatory agenda for the coming year the nawg statement said
additional ccc credit guarantees for hungary
canadas bank rate rose marginally to 859 pct from 858 pct last week bank of canada said
fed data suggest stable us monetary policy
weve been following this louisiana gulf situation for a month and we dont think its going to get back in line in any nearby time burgess said
there are 96 mln shares outstanding this year up from the 85 mln shares in 1986 utilicorps president richard green told financial analysts here
to avoid souring relations with german banks they now cooperate with japanese houses may prefer finding borrowers so far not seen in the mark sector
we believe this is a package that will help argentine to continue on the track it has elected to follow stable growth and equilibrium in the external accounts he said
targeted for sale are bonwit tellers garfinckels deys donaldsons herpolsheimers heers millers miller and rhoads pomeroys catherines plymouth shops and jerry leonard
the figures are unreservedly good chase manhattan securities economist andrew wroblewski said
humana inc hum regular dividend
water sports network said it purchased 750000 dlrs in convertible debentures from ntn communications inc the companies said they are exploring ways to mutually market the programs and properties of each company
they said the firm like other investment banks needs capital to expand globally
the plan was aimed at reducing debt levels and interest expense strengthening the chemical companys finances and increasing its operating flexibility
liro puts the add need at around 39 billion dlrs
elxsi elxsf wins mcdonnell douglas md order
frozen food express fexpo 3rd qtr net
in times of rising commodity prices monetary policy might be tightened and in times of falling commodity prices monetary policy might be eased he said
there are valid reasons for the bank to be cautious said peter fellner uk economist at brokers james capel and co
atlantic city electric co ate sets payout
panteras corp said it agreed to buy ten pizza restaurants in southeastern colorado from creditors foreclosing on the facilities
capital adequacy ratios remained strong with the primary capital ratio standing at 75 pct at end 1986 he said
operating net in latest quarter and year includes 750000 dlrs charge for restructuring announced in early january
canada february consumer prices up 04 pct
the bank of england said it was taking onto its books a further one billion stg tranche of 8 3 4 pct treasury loan stock due 1997 payable 40 stg pct on application
sandoz today reported without comment a rise in net profits to 541 mln francs from the previous 529 mln and a five pct increase in dividend to 105 francs per 250 franc nominal share
the dairy cattle are for shipment on or before may 31 1987 it said
premier yu kuo hua ordered financial officials to quicken the pace of relaxing foreign exchange controls and study the possibility of suspending the controls a cabinet statement said
chemical also placed 52 mln dlrs of loans to ecuador on non accrual because the quito government also suspended interest payments on its foreign debt
spadine said the mild winter in many parts of the north american continent has led to a build up of gas inventories and less would be necessary to replenish underground storage this spring freeing gas for spot sales
asked by the agency about the recent fall in free market oil prices nazer said saudi arabia is fully adhering by the accord and it will never sell its oil at prices below the pronounced prices under any circumstance nazer quoted by spa said recent pressure on free market prices may be because of the end of the northern hemisphere winter season and the glut in the market saudi arabia was a main architect of the december accord under which opec agreed to lower its total output ceiling by 725 pct to 158 mln barrels per day bpd and return to fixed prices of around 18 dlrs a barrel
hk banks to raise prime rates soon dealers say
david wyss of data resources inc noted that imported manufactured goods prices rose 85 pct at an annual rate in the second half of 1986 which has contributed to rising us industrial output
chase manhattans nicol took a different view however
listing is in luxembourg
bundesbank leaves credit policies unchanged
japan has the means to make a major contribution to development in the third world he told about 500 japanese businessmen and academics
ghana whose high quality cocoa is the worlds most expensive and provides 60 pct of the countrys export earnings made a formal protest to the council about the price differentials assigned to its cocoa saying they were too high for ghanaian cocoa to be bought for the buffer stock
dome mines has guaranteed 225 mln dlrs of dome petroleums debt and has a right of consent to the sale of dome petroleums holding
since late last year japanese investors seeking substantial liquidity and attractive yields have used fresh funds to buy mark and canadian dollar bonds and after the paris currency pact actively bought french franc bonds and gilts while gradually lightening us bond inventories the managers said
reagan calls for vigilance on certain exports
midwest cash grain slow country movement
currently good west african cocoa is tendered at par onto the london market
this years net included 700000 dlrs from the sale of assets while last years was increased 30 mln dlrs by such sales
some also blamed the government for not paying for public sector contracts promptly
but bankers said they believed the new controls would be ineffective since businessmen could split up remittances into smaller units or simply remit money through taiwans flourishing currency black market
for its fiscal year ending august 1986 monfort reported 251 mln dlrs in earnings on sales of 16 billion dlrs
cpc had previously said it wanted to sell the european corn wet milling business and use the proceeds to help reduce debt including that incurred under the share buyback
corporate mergers and acquisitions in and around san francisco over the past seven years have had only a modest effect on the metropolitan areas economy a leading business backed organization said
inertia dynamics trim to pay stock dividend
dividend payable dec 11 to shareholders of record nov 13
the credibility of government efforts to stabilise fluctuating commodity prices will again be put to the test over the next two weeks as countries try to agree on how a buffer stock should operate in the cocoa market government delegates and trade experts said
he pointed out brazil took the action because of its deteriorating economic situation
the european community ec yesterday warned japan and the united states its main trading partners that friction over trade issues is affecting the ecs relations with both countries
in the three months industrial production was 15 pct higher than in the same period a year earlier while manufacturing output was two pct higher
kuwaits oil minister said in a newspaper interview that there were no plans for an emergency opec meeting after the recent weakness in world oil prices
he said no damage was reported unlike in ecuador where indefinite force majeure was declared on crude exports
vtx electronics corp said its board declared a five for four stock split payable april nine to holders of record march 27
exporters nervous about the appreciating taiwan dollar have been heavily selling forward us dollars on the interbank market to avoid exchange rate losses
in band one it bought 31 mln stg of treasury bills and three mln stg of bank bills at 9 7 8 pct while in band two it bought 69 mln stg of bank bills at 9 13 16 pct
he said both provinces are more developed than other sugar producing areas and more sensitive to demand from cities
hoechst celanese was formed feb 27 by the merger of celanese corp and american hoechst corp
world bank mission holds loan talks with brazil
bristol myers co bmy 3rd qtr net
standard and poors corp said it may downgrade gaf corps 415 mln dlrs of bb minus senior debt and b rated subordinated debt
bank of thailand plans its first bond issue
transcanada would own 80 pct
seasonally adjusted imports rose in february to 716 billion stg from 673 billion in january
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
the following proposed securities offerings were filed recently with the securities and exchange commission bio technology general corp btgc offering of 25 mln dlrs of convertible senior subordinated notes due march 1997 through drexel burnham lambert inc
sumita says major nations cooperated to stabilise currencies
mai plc mllll six months to december
the cost of living rose by 891 pct
according to gaviria colombia can hope to earn about 1500 mln dlrs this calendar year from coffee exports which traditionally account for 55 pct of the countrys total export revenue
ual said morgan stanley and co inc and merrill lynch capital markets have underwritten the issue in the us where four mln shares are being offered
g 7 issues statement after meeting
the delegates include us trade representative clayton yeutter
amc common shares opened at four dlrs this morning after the renault chrysler announcement up 3 8 while chrysler shares lost 1 4 to 52 1 4
versar said the acquisition should have a moderately favorable effect on its earnings this year
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
santa fe is in the midst of a 50 mln share stock buyback program begun in 1984
endaka the strong yen has usurped godzilla versus the sea monster as japans favourite horror story
zhang haoruo vice minister of foreign economic relations and trade said last friday that china signed foreign loan agreements for 694 billion dlrs last year 966 pct up on 1985 with actual loans amounting to 483 billion up 93 pct
j sainsbury plc snbl said it agreed to take control of the us shaws supermarkets inc through a combination of share purchases and a tender offer at 30 dlrs a share
the bank said in a statement forecasts indicate a net cash withdrawal from the system through the week
in its semi annual shareholders report porsche said first half turnover fell six pct to 171 billion marks from 183 billion in the same period of 1985 86
buyers have little incentive to renew contracts to lift oil at official opec prices while spot prices on all grades are considerably lower oil traders said
they will not meet now as they try to take advantage of the winter demand to sell their oil but in late march and april when demand slackens mizrahi said
us weather cotton summary usda noaa
supermarkets general corp sgl 4th qtr jan 31
santa fe southern pacific corp said it has discussed with henley group that companys almost five pct stake and was told the holdings are for investment purposes
there is an issuance fee of 25 basis points and an utilisation fee of 75 basis points if the underwriters are required to pick up 51 pct or more of the notes issued
it should also result in significantly more financial flexibility to citizens fidelity moodys said
out of this traders in the uk received 43500 tonnes in the netherlands 12000 in denmark 4000 and in west germany 1000 tonnes
us officials disagree on reducing budget deficit
fed expected to set customer repurchases
affirmed were atts aa debentures and preferred stock and a 1 plus commercial paper and pacific telephone and telegraph cos aa debt which att assumed at divestiture
the central bank bought outright 104 mln stg in bank bills in band two at 9 13 16 pct
the diplomats said the protests had been received from most corners of the developing and developed world ranging from senegal malaysia and indonesia to brazil argentina canada iceland and norway
merrill lynch says it suspends nahum vaskevitch head of london mergers department
i dont think m 1 shows that the economy is falling apart and the fed should ease economists agreed a stable dollar will continue to be a prerequisite for any move by the fed toward easier monetary policy
medtec is a provider of patient accounting and scheduling systems for large scale group medical practices
the long term effect of the transaction on cpcs earnings should be positive it added as it will allow capital expenditures to be cut back and will reduce corporate and divisional overheads as well as operating expenses in the european business
williams pipeline co took the charge against earnings in 1986 for the removal of more than 500 miles of old pipeline from service and for casualty losses
pauls place inc control changes
a turkish research ship which greece had threatened to tackle if it sailed into disputed waters in the aegean sea kept to turkish territorial waters yesterday avoiding a potential clash
investment bankers say the market currently stands at roughly 119 billion dlrs
standard and poors corp said it upgraded 295 mln dlrs of debt of hawaiian telephone co a gte corp unit
the governments own proposal for an across the board daily pay rise of six pesos for non agricultural workers and eight pesos for agriculture workers would push the full year average higher to 54 pct she told the senate last week
owens illinois said that as of oct 19 1598789 common shares or about 13 pct of the outstanding shares of brockway have been tendered
reph acquisition to negotiate pesch merger bid
shr 843 cts vs 961 cts int div nil vs nil group net 78 mln dlrs vs 89 mln turnover 306 mln dlrs vs 335 mln note the company said group net profits for the year ending this aug 31 should amount to 135 mln dlrs
the outcome of negotiations on proposals by the european commission for a 330 ecus a tonne tax on ec produced and imported oilseeds and marine oils remains difficult to predict belgian agriculture minister paul de keersmaeker told a news conference
final terms will be fixed on april 9
higher housing starts were mainly due to a 268 pct year on year rise in apartment building starts to 51829 for the 56th consecutive gain spurred primarily by lower domestic interest rates
hartford said total property casualty and life health written premiums rose 25 pct in 1986 to eight billion dlrs from 64 billion dlrs in 1985
shr 20 cts vs 34 cts net 797000 vs 1137000 rev 222 mln vs 182 mln avg shares 3966667 vs 3366667 year shr 73 cts vs one dlr net 2625000 vs 3371000 rev 696 mln vs 629 mln avg shares 3583653 vs 3366667 note 1986 includes extraordinary gain of 281000 dlrs or eight cts a share
the fact that the real estate market is still moving away suggests there could be some continuing growth of nonperforming loans in 1986 about 42 pct of texas commerces net loan losses related to real estate lending and 13 pct was due to energy loan losses
allied lyons sees hiram walker profits rising
the bank report said indonesias rice production had peaked and the subsidies are a waste of money
1986 quarter net includes 212000 dlr tax credit
under agas offer shareholders can either accept a cash bid or exchange one share in duffour et igon for one bond of a nominal value of 4410 francs with a 10 pct coupon issue by aga france sa
john mowlem arranges 50 mln sterling cp program
but the rapid industrialisation of the countryside which has occurred at the same time has gobbled up arable land for factories and homes for peasants who can now afford them
a cftc spokesman said the commission took into account open interest affected by existing speculative limits in proposing to raise cbts limits
trw inc trw sets pact with tektronix tek 
the company said the 1987 share forecast is based on 25 mln shares outstanding after a one mln common share issue on december 30 1986
shamrock completes central soya sale to ferruzzi
its forecast for total ec sugar production including cane and molasses rose to 1410 mln tonnes from 1409 mln
this clearly reflects the confidence investors have in the keppel group
the forecast initially looks positive for both the bond and the foreign exchange markets one analyst said
it has resulted in great losses of cultivated farmland it said
us treasury secretary james baker said monday the united states as 345 pct shareholder and provider of the bulk of the banks resources should have more say in approving loans and conditioned a nine billion dlr increase in its contribution on approving the reforms
shr 37 cts vs 37 cts net 687888 vs 441659 revs 79 mln vs 68 mln nine months shr 112 dlrs vs 107 dlrs net 18 mln vs 13 mln revs 232 mln vs 197 mln avg shrs 16 mln vs 12 mln notefull name is scott and stringfellow financial corp
the imf committee meeting scheduled for april 9 is expected to review the resolution reached by the six top industrialised nations in paris last month calling for newly industrialised countries such as south korea and taiwan to allow their currencies to rise
british caledonian group britains second largest airline has announced a 193 mln stg pretax loss for the financial year ending last october compared with a record pre tax profit of 217 mln stg in 1985 chairman sir adam thomson told reporters
the network formerly a joint venture between time gulf and western inc and mca inc mca said that gulf and western and mca who each previously held a one third interest now will jointly own usa network on a 50 50 basis
fiat preference shares and savings non voting shares gained even more strongly closing at 7740 and 7841 lire respectively against 7353 and 7600 friday
it said the purchase price of the line is 81 mln dlrs
louisiana land and exploration co said it assumed the obligation to pay the principal and interest on the 8 1 2 pct convertible subordinated debentures due september 1 2000 of inexco oil co a unit of louisiana land
nonetheless us officials see signs of improvement in the deficit
the eight major new york city banks had daily average borrowings of 169 mln dlrs from the federal reserve in the week ended april 8 a fed spokesman said
its move followed a signal from the bank of england earlier this afternoon that it would endorse a half point cut in the base rate a surprise move following its strong signals last week that such a move would be premature
he said some banks might want to hold out for a higher price but others would see the repurchase offer as an opportunity to cut their losses
shr 85 cts vs 120 dlrs net 5130000 vs 7236000 revs 936 mln vs 919 mln
theyre going to have to start running their businesses like businesses baches wolffe said
the new loan will enable punta to pay off 104 mln dlrs of indebtedness to another lender and provide it with working capital
it says firmer long term rates would slow private net long term capital outflows which increased strongly in 1986
towle manufacturing co operating under chapter 11 said that based on a reorganization plan it is likely that its outstanding common and preferred will be substantially diluted or cancelled
heyman said the chemical industry has taken a total of seven billion dlrs in pre tax writeoffs during the past two years to trim balance sheets
ny times nyt to buy gwinnett daily news
philippine telephone firm plans stock split
shr loss 45 cts vs profit 20 cts net loss 1841000 vs profit 983000 revs 562 mln vs 1029 mln six mths shr loss 13 cts vs profit 80 cts net loss 534000 vs profit 44 mln revs 1214 mln vs 2093 mln note six months fiscal 1987 includes loss of 17 cts per share from discontinued operations
standard said both oil and gas production increased last year to 726600 barrels per day from 719700 barrels the previous day and to 1544 mln cubic feet daily from 101 mln in 1985
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 222 mln dlrs to 6405 billion in the week ended march 18 the federal reserve bank of new york said
senior industry and research officials met yesterday at padukka east of here to discuss ways of controlling the fungus which is affecting estates mostly belonging to the state plantations corp and janatha estates development board
the icco failed to agree buffer stock rules in january when the new international cocoa agreement came into force
however moodys noted that gaf has demonstrated an ability to profit from takeover attempts
this oil discovery will be followed up as soon as possible by further seismic surveys and drilling
the partnership will acquire the refining and distribution systems currently owned and operated by champlin petroleum a wholly owned subsidiary of union pacific
interco said the merger becomes effective april 14
arden international aiki 4th qtr dec 27 net
but heavy selling at around that level quickly pushed the dollar back down towards 149 yen dealers said
it said it wanted this authorisation in view of future certificate issues
nbc is owned by the general electric co ge were instructing all our members to continue working without a contract said john krieger a union official
the company said it will gaurantee that almost all of the issued shares will attain price levels ranging from five to nine dlrs each for two years after their issuance
kiena two for one share split approved
westport bancorp webato 3rd qtr net
in its report on export markets for us grains the department said with the deregulation of the new zealand wheat board which normally imports wheat from australia there is the possibility of wheat purchases from the united states since the shipping cost between new zealand and the eastern coast of australia and the west coast of the united states are about equal
tandy brands tab places convertible notes
the current debt service ratio of 41 pct will be the top wardhana said noting the debt service ratio rose to that level from 37 pct last year
within the oecd preliminary norwegian data show record 106 mln bpd output in january with lower production expected in february in accordance with government curtailments of approximately 80000 bpd announced in support of opec
the transaction is subject to approval of the canadian radio television and telecommunications commission
anitec image technology corp is raising 75 mln dlrs via an issue of convertible subordinated debentures due 2012 with a 5 7 8 pct coupon and par pricing said lead manager smith barney harris upham and co inc
the balance comprised 21000 tonnes of grains plus oilseeds and 125000 tonnes of derivatives
tony measor an analyst at hong leong securities ltd estimates swires profits will be 1525 billion dlrs
savoy industries inc savo year
oper shr four cts vs one ct oper net 108000 vs 30000 revs 128 mln vs 148 mln note current qtr figures exclude operating loss carryforward gain of 57000 dlrs or two cts per share vs gain of 21000 dlrs or one ct per share
twa twa sues usair u over poison pill
they said they expect thai banks to opt for a cut to spur domestic loan demand to help reduce persistent high liquidity on the money market
yet the ecu is now around 1734 yen
gros denies court action against brazil
aristech ars says 1st qtr shr estimate right
but not all bankers are convinced
year on year growth in total m1 and local m1 was 263 pct and 276 pct respectively
lawson would officially state his position when the two meet again next month for the imf and world bank spring meetings in washington funaro said
paye stressed the need for a progressive and joint reduction of agricultural subsidies as well as social measures to help farmers in unprofitable areas
1 the finance ministers and central bank governors of seven major industrial countries met today
bankers trust international ltd said it is issuing 200000 stg call dlr put currency warrants at an initial offer price of 3125 dlrs per warrant
the oecd projection which is based on assumptions of slower growth higher interest rates and actual data for the first half of the financial year is for a deficit of about 190 billion dollars it said
revenues from trails smelter totaled 356 mln canadian dlrs in 1986
mdc holdings inc said it sold substantially all the assets of its oil and gas unit mizel petro resources inc and affiliated partnerships for 38 mln dlrs in cash to parker and parsley petroleum co midland texas
krupp gmbh said its krupp industrietechnik gmbh subsidiary has won a 130 mln marks joint order with samsung shipbuilding and heavy industries co
cpc is building an lng receiving terminal in southern taiwan city of kaohsiung at a cost of 820 mln us dlrs
analysts said the results were encouraging but the potential difficulty of operating and recovering oil in the field was shown by the fact that the first well had to be plugged and a sidetrack drilled
the company said its merger agreement with piedmont provides that the offer is not to be amended without piedmonts prior written consent in any way that would be adverse to piedmont shareholders but it said it could cut the number of shares to be bought without piedmonts consent
ecuador has also appealed for emergency aid from about 40 foreign governments
the government is currently reviewing the oil tax structure
it said the proposal also called for conversion of outstanding novamin warrants into breakwater common shares on the same basis provided the exercise price was paid by the warrant holders
we will not discuss it
the sources said this means that any possible adjustment would centre on the reference price and the may buy or may sell and must buy or must sell levels without changing the lower indicative price or floor price of 150 malaysian singapore cents a kilo in the present pact
moodys investors service inc said it may downgrade duquesne light cos two billion dlrs of debt
gencorp earlier this month reached an agreement with walt disney co to sell its los angeles television station whj tv
oper shr loss 668 dlrs vs loss 995 dlrs oper net loss 539 mln vs loss 698 mln revs 165 mln vs 332 mln avg shrs 8329492 vs 7271668 note 1986 excludes loss 129 mln for discontinued compressor operations vs loss 149 mln year prior
south korea has decided on major changes in its trade investment and finance policies aimed at reducing the growth of its balance of payments surplus and avoiding a trade war with the united states deputy prime minister kim mahn je said
parent bank total participations rose to 645 billion marks in 1986 from a comparable 457 billion in 1985 including a rise to 379 billion from 234 billion in bank participations
fundamentals may provide most of the direction in futures on monday they said
there is absolutely no reason not to do so lawson said
1985 4th qtr and year oper net excludes a loss of 77000 dlrs and about 54000 dlrs respectively for discontinued operations and a loss of 285000 dlrs and a gain of 2757000 dlrs respectively for extraordinary item
neither castro nor the cuban press have given out figures to estimate tonnes of crude production during the present harvest or the goals for the sugar campaign
allegheny ai sells three industrial units
the metals were found in rocks on the periphery of a sulphide deposit
banking sources said the cost of liquidity through repurchase accords will not differ much from that on dollar swaps
i dont see anything on the horizon that should cut it growth short fernandez said
brymon plans to offer five flights a day from the london city airport to paris and three to amsterdam and brussels
the buffer stock rules agreement reached on friday by the international cocoa organization icco is an improvement on previous arrangements but the price support mechanism is unlikely to do more than stem the decline in cocoa prices many icco delegates and trade sources said
holders who wish to participate in the offer must first convert their preferred stock into borg warner common stock
french industrial production falls in january
west german president richard von weizsaecker said both debtor and creditor nations share responsibility for the third worlds foreign debt crisis
it also said the project plans to increase the area and management of protected forests establish pilot wood farms and nurseries and rehabilitate soft wood plantations
us treasury secretary james baker said he was making progress negotiating reform of the inter american development bank with other member nations
shr loss nine cts vs profit 14 cts net loss 773000 vs profit 1618000 revs 163 mln vs 267 mln six mths shr loss 56 cts vs profit 27 cts net loss 4763000 vs profit 3398000 revs 293 mln vs 499 mln
treasury secretary james baker reiterated his hope that this weeks rise in prime rates would be a temporary blip upwards
clearing bank sterling lending to the uk private sector in february is estimated to have risen by an underlying seasonally adjusted 16 billion stg after a 12 billion stg rise in january the banking information service said
canada january trade surplus 533 mln dlrs after december 965 mln dlrs surplus
it said 11 of the new berths will be able to handle ships of more than 10000 tonnes three will handle containers and the expansion will enable the port to handle coke non metal mineral ores and mining equipment for the first time
it forecast real growth of three pct for the world economy and four pct for japan by 2000 if the adjustments were made
the ministry will start drawing up its restructuring guidelines from april 1 and the yards will implement the guidelines from september industry sources said
general partners said it began a 100 dlrs a share cash tender offer for all of gencorp an akron ohio based concern that is worth nearly 23 billion dlrs
phelps dodge pd calls preference shares
the treasury said it would expand on may 1 its computerized program for separate trading of registered interest and principal securities called strips to permit reconstituting of securities
in the meeting we agreed to work on behalf of the union of the producers in matters related to an international agreement dauster said
indonesias raw sugar output is likely to be 18 mln tonnes in calendar 1987 unchanged from 1986 and below the governments 1987 forecast of 25 mln the us embassy said in its agricultural outlook for 1987
the company later sold its 20 pct stock for about 180 mln to 200 mln dlrs according to analysts
eschborn west germany based linotype had 1986 sales of more than 200 mln dlrs the company said
however some dealers reportedly backed out of the three day system repurchase agreements set on monday leaving the fed with a somewhat increased need to supply reserves
but we need more effective methods of managing them so as to limit the volatility which has caused so much concern and damage
german producer prices fall 03 pct in february
cftc said the soft drink industry currently buys at least 95 pct of all us produced hfcs 55 a liquid food and beverage sweetener produced through the processing of corn starch by corn refiners
conseco inc said it has signed a definitive agreement to acquire western national life insurance co from beneficial corp for 275 mln dlrs in cash
but hannes androsch head of creditanstalt bankverein cabvvi told he opposed a cut because it would hurt small savers
jan 31 end shr profit 49 cts vs loss not given net profit 1360000 vs loss 241000 revs 208 mln vs 143 mln avg shrs 2760000 vs 1970000
at the time the company said it would buy back 30 mln shares or 16 pct of the outstanding stock
mcdonnell douglas corp md said it awarded a contract valued at 28 mln dlrs to a unit of grumman corp to develop flight control surfaces for the new us air force c 17 transport
we dont see any substantial reason to change our policy stance one senior official said
proceeds and expenses from the secondary offering of bow valley industries common shares are for the account of the selling shareholders the company said
the ec commission has said it will come up with detailed proposals in july on the future of the ec steel industry and ec industry ministers meet again in september to reach a final decision
us treasurys baker sees expansion continuing
he said foreign stockholders cannot remit profits abroad until at least july 1988
proposed offerings recently filed with the sec
bhp net seen around 600 mln dlrs for nine months
in a statement reacting to the five institutes joint spring report bangemann said that as far as the call for bringing forward the 1990 tax reform was concerned the government points out that the positive effects for growth of its policy of consolidation cutting the budget deficit must not be allowed to be endangered bangemann also recalled that the scope of tax cuts planned for 1988 had already been increased
re exports the territorys traditional entrepot trade outpaced domestically produced exports for the first time since march 1985
us export inspections in thous bushels soybeans 7209 wheat 15187 corn 25347
money market dealers said period rates remained little changed indicating no change in credit policy was expected
soviet officials have said they would buy us wheat if it were competitively priced
north rhine westphalia to issue bond today
this is really getting pretty serious
the justice department told the transportation department it supported a request by usair group that the dot dismiss an application by trans world airlines inc for approval to take control of usair
the two economic policymakers listened patiently to descriptions of plans for a third world debt facility backed by gold reserves of the international monetary fund
the company said the proceeds will be used to create acquire develop produce and package entertainment properties primarily in film and television and secondarily in music
the reserves comprise 1640779 tons proven reserves grading an average of 0163 ounces of gold a ton and 3262161 tons probable reserves grading an average of 0127 ounces of gold a ton
payment is due april 30 1987 and final maturity april 30 1994
in 1986 standard oil had net losses of 345 mln dlrs on revenues of 1002 billion dlrs compared to a profit the year earlier of 308 mln dlrs on revenues of 1382 billion dlrs
it said the new wholly owned unit has extended a 350000 dlr secured line of credit to micro designs inc
shr one ct vs five cts net 19174 vs 118671 revs 3127162 vs 2936330 year shr eight cts vs 30 cts net 198290 vs 712087 revs 124 mln vs 116 mln avg shrs 2603588 vs 2376604
if the normal weekly allocation is not doubled at the fortnightly session high demand could undermine the objective of the new system analysts said
the appeals court ruling surprised officials of atlanta based delta which had been preparing for the merger for months and had already painted delta logos on airplanes belonging to western which has headquartera in los angeles
the terms represent an improvement over those obtained last year when barbados tapped the market for a 25 mln dlr transferable loan facility which carried the same maturity but had interest at 1 1 4 pct over libor
creditors are a nervous bunch of people he said
the official refused to comment however on whether the agreement included a secret pact to consider further coordinated interest rate cuts a measure industrial nations have taken jointly several times in the past year
in shipping mhi is fighting back against low priced south korean competition by building more technologically advanced carriers to carry liquefied natural gas and other products difficult to transport
step saver coda says warrant exercised
in greece inflation was forecast to turn downwards following an increase early this year linked with the introduction of value added tax and a surge in food prices due to cold weather
american express axp approves shearson offer
hunt manufacturing co hun 1st qtr net
stone container corp said it is splitting its common stock 2 for 1 and increasing its dividend 33 1 3 pct
corn prices were pressured by the outlook for 676 mln acres of corn which is down from last years 767 mln acres but was larger than analysts expected
nationwide cellular ncel has buy option
however market sources and analysts said uncertainty surrounds any transaction because of the legal challenges to gencorp broadcasting licenses
this compares with its forecast of a shortage in the system today of around 700 mln stg
great american said it bought the stake for investment
taiwan likely to buy more us soybeans
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
theodore cross editor of business and society review a business publication said an investor group he heads has offered to buy harper and row publishers inc for 34 dlrs a share cash
viermetz also said he did not see the us federal funds rate falling below six pct for fear of provoking an uncontrolled fall in the dollar
at the same time porsche has hedged its dollar denominated business for the 1986 87 business year finance director heinz branitzki
usda estimates australia wheat crop
it said industrial has also stated that it intends to pursue a possible business combination in the near future
oper shr 38 cts vs 184 dlrs oper net 973000 vs 4497000 nine mths oper shr 122 dlrs vs 131 dlrs oper net 3133000 vs 3410000 note results exclude extraordinary gain from net loss carryforward of 672000 dlrs or 27 cts in 1987 3rd qtr 918000 dlrs 38 cts in 1986 3rd qtr and 1071000 dlrs or 44 cts in 1987 nine months
china has switched purchases of us wheat totaling 60000 tonnes from the 1986 87 season which began june 1 to 1987 88 season delivery the us agriculture department said
cetus has a venture with kodak to develp diagnostic products and with grace to develop agricultural products
terms of the debenture have not been established
nigeria france to reschedule official debt
thomson mckinnon us government fund dividend
nippon life insurance cos 538 mln dlr purchase of a 13 pct stake in shearson lehman brothers inc brokerage unit is a shrewd move that other japanese insurers are likely to follow securities analysts said
then 658000 new 65 franc investment certificates will be issued at 400 francs raising capital to 703 mln francs
the company said in the spinoff it is distributing its entire 44 pct interesdt in automedix
underwriters noted that ubs acting as sole underwriter won a competitive bidding for 250 mln dlrs of 30 year debentures of gte corp gte just this morning
norstar nor fleet flt to merge
terms were not disclosed
the actions in support of union demands in negotiations over a new labour agreement began on wednesday when grain handlers stopped work
key wheat growing areas of the southern ukraine and north caucasus received on 25 35 pct of autumn precipitation she said
parent investment in fixed assets 114 billion vs 884 mln
a year earlier the figure was 28763
us wheat bonus to soviet called dormant
1986 amounts restated increasing net by four cts a share for change in pension expense accounting
research and development expenses most of which was applied to diagnostic and pharmaceutical products increased by 23 pct to 78 mln dlrs it said
in a speech to the annual meeting of the inter american development bank he said excchange have moved into ranges that better reflect economic fundamentals he noted that in particular that dollar has fallen from its high point in early 1985 helping to moderate protectionist pressures in the us
the fixed rate tranche totals 352 mln dlrs
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
last year allis chalmers sold the lift truck business to ac material handling co of columbus ohio
but for now market psychology has changed so abruptly that a further drop in the bond market cannot be ruled out
the company was wound up last year
natural gas prices shoup said should similarly climb from a range of 130 to 170 dlrs per mcf this year to between 150 and 190 dlrs per mcf in 1988
it will take four years to negotiate
chrysler corp said its board declared a three for two stock split in the form of a 50 pct stock dividend and raised the quarterly dividend by seven pct
dealers will be morgan guaranty chase investment bank ltd shearson lehman brothers international and swiss bank corp international ltd
macalpine said there are lots of options for reshaping the company with a distribution of various pieces to the major shareholders among the possibilities
bayou international gets stake in amalgamated
most proposed changes involved evaluating exposures on a case by case basis rather than along general lines
brunswick corp expects 1987 first quarter sales to be up dramatically and profits to do well chairman and president jack reichert said after a securities analysts meeting
moodys investors service inc said it downgraded 16 billion dlrs of debt of standard chartered plc and its units standard chartered bank and union bancorp
last years calculations of industrial output included all goods irrespective of quality
shr 26 cts vs 18 ctsd net 2102000 vs 1415000 revs 441 mln vs 422 mln year shr 21 cts vs 91 cts net 1678000 vs 7105000 revs 1551 mln vs 1492 mln avg shrs 7960000 vs 7808000 note latest year net includes writeoff of investment in dawn enterprises ethanol refinery of 79 cts shr
but exporting grain requires heavy investments and the multi million dollar loss posted six years ago by farmers export co a co op set up to export grains served to make folks gun shy hanes said
daewoo industrial co ltd of south korea will sign a 45 mln us dlr loan tomorrow through its hong kong unit lead manager banque nationale de paris said
nazer said the output level did not mean the kingdom had returned to a role of swing producer within opec
miyazawa said major nations are trying hard to stabilize exchange rates
despite the higher net earnings cra said 1986 was a poor year for the minerals industry with the notable exception of gold producers
the issue matures on may 12 1992 and is priced at 53 1 2 pct
he noted that the chancellor of the exchequer nigel lawson stressed this after the recent paris currencies meeting
richmond said she earns 1635 dlrs a month by chatting 40 hours a week in english to japanese who hope to learn the language
the cash alternative would offer the equivalent of 4002p a share
the company said it will propose an increase in its dividend rate if the split is approved effective with the june payment
america west is based in phoenix arizona
lee ming yi deputy director of the ministrys industrial development and investment centre said the forecast rise is due to planned government incentives and growing willingness among taiwanese to invest abroad
in the 1986 first quarter brunswick reported earnings of 238 mln dlrs or 57 cts a share on sales of 3967 mln dlrs
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
it was up 1 8 today at 40 3 8 above the emery offer
citibank lost 490000 crowns in norway in 1985 but sejerstad said a profit was likely this year because of planned liberalisation and better economic performance helped by a steadier oil price of around 18 dlrs a barrel
the lower levels had been introduced last year as a temporary move to aid the tin industry after prices collapsed in late 1985
under the joint venture each company owns 50 pct of sprint
major us banks may lift prime lending rates again within days due to recent increases in their borrowing costs and speculation the federal reserve is nudging up interest rates to help the dollar economists said
the sources said the banco do brasils foreign trade department cacex never interferes in the cocoa market by rejecting sales that do not meet certain price or shipment criteria
the meeting will be a non event with no change in the official prices because opec and in particular the saudis are committed to stabilizing the market said rosario ilacqua analyst with lf rothschild
usair u and unit remain under moodys review
but to achieve that the countries need to grow
the notes in one mln schilling denominations may not be offered in austria britain or the united states
us money supply growth is slowing down rapidly and some economists believe that all three of the federal reserves main monetary aggregates may even have contracted in february
taiwan imposed currency controls today in what bankers called a desperate move to prevent speculation as the taiwan dollar appreciated against the us currency
two months ago the mark and the dutch guilder were revalued by three pct and the belgian and luxembourg francs by two pct against other currencies in the system the french franc italian lira the irish punt and danish crown
about 200 people are feared dead after a british cross channel ferry rolled on its side off the belgian coast last night but almost 350 passengers were plucked to safety from the ice cold sea
the cocoa pact establishes precise differentials the buffer stock manager must use when purchasing varying grades
malrite buys coxs radio station unit
the agreement to limit 0 92 to a wheat pilot program follows vocal criticism of the proposal by some influential farm groups who are concerned about the major impact of 0 92 and by members of congress wary of reopening the farm bill
a cargo of thai raw sugar was reported traded at basis july new york futures less 25 points for june july 15 shipment traders said
florida employers insurance flaefo 3rd qtr
a severe attack of pod rot can cause the loss of over 500000 bags in a very short period one source said
each unit of beneficial interest in the trust will be allocated 0051675 shares of ual common stock
parent shr 3712 yen vs 3497 div 950 yen vs 750 net 3334 billion vs 3105 billion current 7930 billion vs 7332 billion operating 7213 billion vs 6553 billion sales 1222 billion vs 1211 billion outstanding shrs 89796 mln vs 88776 mln note 1986 87 dividend included two yen bonus dividend to mark 80th anniversary
polly peck said it proposes to use the 203 mln stg raised by the share placing to further the development and expansion of its european marketing base and to hasten the development of its agricultural sourcing network in the southern hemisphere
the iwc 1986 87 estimate for world trade in wheat and coarse grain is thus estimated two mln tonnes higher at 173 mln against 169 mln the previous season with the forecast three mln rise in soviet imports offset by small reductions elsewhere
qtly div 10 cts vs 8 1 3 cts prior pay april 21 record march 20 note interchange financial services corp
magma copper co a subsidiary of newmont mining corp said it is lowering its copper cathode price by 050 cent to 6550 cents a lb effective immediately
a liberian motor bulk carrier the 72203 dw tonnes nikitas roussos which was grounded in the suez canal yesterday has been refloated and is now proceeding through the the canal lloyds shipping intelligence said
imports in 1985 86 are put at 1570 mln tonnes vs 1570 mln tonnes last month
midland bank international financial services is issuing a 900 mln franc floating rate note due april 15 1997 at par lead manager societe generale said
those powers which allow london to ban foreign financial firms like banks from britain are designed to ensure uk firms equal access to overseas financial markets
the exception he said would be texas where he said most of the banks are already well managed but might be purchased at a discount because of the depressed regional economy
im concerned about what i see in recent data showing a substantial fall in the money supply edwin dale millers spokesman said the remarks published in the new york times today were accurate
promac which produces measurement and regulating equipment has a work force of 50 and had 1986 turnover of five mln guilders an internatio spokesman said
it said it may take legal action or seek the support of shareholders in calling a special meeting to replace the board and to consider other proposals it might develop
30
its initial capital of 17 mln dlrs will come from caricom member governments private sector donors and the caribbean development bank
bids were fully met for the first 200 mln guilders and for 40 pct above
le matin was printed and distributed by southam inc s montreal gazette newspaper
c i l inc said it would exercise its right to acquire trimac ltd s stake in their jointly owned tricil ltd for 91 mln dlrs with closing expected may 22
the reagan administration is planning to put kuwait tankers under the protection of the us flag with naval escorts
we have nothing to lose
brokers securities inc bkrs 4th qtr loss
perus foreign debt obligation this year totaled 63 billion dlrs including maturities falling due and overdue payments equivalent to almost twice its expected exports of goods and services central bank president leonel figueroa said
an independent finance company on the other hand must operate within more stringent guidelines than a unit and is at a competitive disadvantage s and p said
great american said the examiners were conducting a regular examination and a final report is not expected for several weeks
there are 33 states plus the us virgin islands classified as free of bovine tuberculosis and 24 states plus puerto rico and the us virgin islands which have eradicated brucellosis
this number has risen three to four billion dlrs a month for a long while he said so februarys weakness is not likely to persist
utilities output rose 07 pct in february after gaining 12 pct in january but roach said it shows mostly that more energy was produced not that manufacturing activity gained
arvin industries inc said higher interest costs from borrowings to make acquisitions will produce earnings flat with last years 59 cts a share results
the second figure which would always be lower by deducting freight and insurance presents the deficit in a more favorable light for the reagan administration
the agency has proposed evaluating applicants credit using a variety of financial ratios instead of relying solely on cashflow ability
shr 33 cts vs not given net 642484 vs 362883 note company went public in october 1986
banc one corp one 3rd qtr net
the investor has to scrutinize participation shares carefully before making an investment decision schneider gaedicke said
american century corp said it has restated its earnings for the fiscal year ended june 30 1986 to provide an additional five mln dlrs to its loan loss allowance causing a restated year end net loss of 14937000 dlrs instead of 9937000 dlrs
shr profit 49 cts vs loss 41 cts net profit 543000 vs loss 457000 revs 104 mln vs 142 mln year shr loss 71 cts vs loss 211 dlrs net loss 781000 vs loss 2325000 revs 389 mln vs 449 mln
terms of the agreement were not disclosed
european agriculture was facing severe problems but both the community and the us should work closely within the framework provided by the general agreement on tariffs and trade he said
kuwait minister says no emergency opec talks set
foreign orders grew one pct to 116 billion marks
the banks gold and currency reserves rose by 484 mln to 5689 billion guilders while the value of non gold holdings rose by 140 mln guilders analysts said
non redeemable for life the issue is rated a 3 by moodys investors and a by standard and poors
the unusual situation on the crude oil market last year also produced a clear sales slide in the oil and gas sector and forced price declines for petrochemical products basf said
look at all the japanese cameras and tape recorders in this room
because the dow chemical notes carried an interest rate floor of 17 pct the issue saw strong investor demand underwriters said
but he said there were no incidents
carson pirie scott and co said the tax reform act of 1986 which repealed investment tax credits had a negative impact of 22 cts a share on earnings for the year ended january 31
many large corporations have invested in small biotech firms
however the bankers said that because of all the publicity which surrounds south african debt negotiations the meetings were kept secret
suburban said it has received shareholder tenders for 100 pct of valley nationals stock
bank of japan governor satoshi sumita said there is little room left for the central bank to further ease its credit policy as interest rates levels are now approaching their lower limit
this operation was coordinated with the japanese monetary authorities and was funded equally by the fed and the us treasury
iadb officials also said washington hinted at future compromise
devon said that its estimated future net revenues attributable to reserves is about 58 mln dlrs with a present value discounted at 10 pct of 38 mln dlrs
the hague was the first dutch city to start a commercial paper program allowed on the dutch capital markets since january 1986
bank of americas west german branch lost some 32 mln marks in 1985
in addition to buying substantially of all coulsons assets tony lama said it would assume certain of the companys liabilities
although the bank has not yet formally announced a definite intention to proceed with the auctions most market participants assume that they will go ahead
mitsui and co intends to import imatrons computerised diagnostic equipment into japan he said
j bildner and sons inc jbilo year jan 25 net
oper shr 26 cts vs 18 cts oper net 2877000 vs 1838000 revs 443 mln vs 408 mln note current 1st qtr oper net excludes operating loss carryforward of 1694000 or 16 cts per share
proposed offerings recently filed with the sec
net interest earnings were 4904 mln dlrs in the first quarter down from 4994 mln a year earlier and net yield fell to 279 pct from 320 pct
bayerische vereinsbank is issuing 100000 naked warrants at 15 dlrs each which are convertible for up to one year into a 1000 australia dlr bond due april 30 1992 said merrill lynch capital markets as lead manager
omnicom group omcm sets regular payout
period ended january 31 shr loss five cts vs profit eight cts net loss 247100 vs profit 345300 sales 4529300 vs 3482800 nine mths shr profit six cts vs profit 18 cts net profit 261300 vs profit 793700 sales 123 mln vs 9957200
charter crellin crtr to acquire sebro plastics
morgan stanley is sole manager of the offering which will be rated aaa by standard and poors corp
southern union sug to sell notes debentures
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
it said at the time the shelf is issued the net proceeds from this registration and a previous registration together totaling 75 mln dlrs will be used in part to refund a portion of the companys outstanding first mortgage bonds and in part to reimburse a part of the funds required in earlier refunding activities
it reflects their the executives belief that they are seeing the bottom of the economic cycle he added and with just a few reasonable breaks this industry can begin to move again the energy industry was hard hit by the sharp drop in oil prices which fell from around 30 dlrs a barrel in late 1985 to as low as 10 dlrs in mid 1986
we used to have a forward market he said
in february the central bank also prohibited trading in bolivar futures the broker said
gencorp has about 223 mln shares outstanding making the value of the offer about 223 billion dlrs
wheat sowing normally begins in may
swiss wholesale prices fall 03 pct in february
alusuisse shares suspended on capital cut news
shr 47 cts vs 48 cts net 5050 mln vs 5330 mln revs 847 billion vs 843 billion nine mths
the bond is available in denominations of 1000 and 5000 dlrs and will be listed in luxembourg
theres no way prices can stay flat because there isnt enough supply he said
it has commitments to export another 388390 tonnes this year
one senior dealer said the bundesbank with advanced knowledge of the markets needs should have curtailed its sales of treasury bills on friday
a shareholder meeting is expected to be held in august
turbo resources ltd year net
the acquisition will be completed this month as both the japanese and portuguse governments are expected to give permission soon
royal bank ryto reclassifies brazil loans
standard was a high cost oil producer the analysts noted
thousand trails inc trls year loss
a government commission that controls 51 pct of san miguel corp smc stock will increase its nominees on the firms 15 member board to nine from six
shares of continental gummi werke ag congf opened eight marks stronger in an otherwise mixed frankfurt market and dealers attributed the trend to favourable press reports about a new tyre system the company is developing
katy industries inc kt 4th qtr net
usair said piedmont has about 231 mln common shares on a fully diluted basis adding its offer is conditioned on the tender of at least 9309394 shares representing 402 pct of the oustanding shares on a diluted basis
schweizerhalle fire hit sandoz 1986 profits
the company later reached an accord under which it would buy 20 pct of the company after kohlberg kravis completed its leveraged buyout of the company
by 65 pct to 100 pct a siemens spokesman said
imf official resigns charging us loan pressure
on balance this is the best new idea i have seen said rep
uk cross field prt relief favours smaller fields
but the proposals will scrap the pricing formula that has constrained the companys profits in the long distance business leading to higher profit margins analysts said
shr six cts vs five cts net 459131 vs 289433 revs 1808832 vs 1680240
the senate said the tax would amount to almost 90 pct of the current price of soyoil and have a restrictive effect on us exports of soybeans and vegetable oils to the ec
this brings total help today to 841 mln stg compared with a liquidity shortage it has estimated at a revised one billion stg
qtr ended jan 31 shr 33 cts vs 29 cts net 148 mln vs 11 mln revs 1086 mln vs 700 mln avg shrs 452 mln vs 376 mln nine mths shr 88 cts vs 76 cts net 367 mln vs 287 mln revs 2604 mln vs 1930 mln avg shrs 419 mln vs 378 mln note net for nine mths includes gains from dispositions of 1783000 dlrs or four cts a share vs 900000 dlrs or two cts a share
wyle labs wyl to issue debentures in europe
this compares with the banks estimate that the system would face a shortage of around 12 billion stg today
derlan acquires 80 pct of aurora industries
it added this will considerably reduce future income taxes in canada and add to wainocos net income and cash flow for a number of years
the community has offered yugoslavia only 380 mln ecus he said
agriculture secretary richard lyng said the ruling of a gatt panel on a us trade complaint against japan expected soon may influence the us stance in negotiations with tokyo on beef and citrus import quotas
chrysler to take over renault stake in american motors says renault
canadian trade minister pat carney said that agricultural policies should not hurt world international trade and should therefore become more price responsive over time
that argument has clearly weakened he said
according to pdvsa venezuelans will occupy such key positions such as treasurer and vice president for manufacturing
money supply rose at an annualised rate of 167 pct last month against 81 pct in january
the campaign to persuade farmers to grow legal crops instead of coca would be financed instead using local currency nogales said
parent company net profit 382 mln francs vs 264 mln
convergent solutions inc csolo 2nd qtr net
canada development corp cdcto said it agreed to sell its 252 pct interest in cdc life sciences inc to caisse de depot et placement du quebec the provincial pension fund manager and institut merieux a french biological laboratory company for 1692 mln dlrs
his nakasone remarks should have been made and should have had a bigger influence when the dollar was still above 150 yen said ps tam of morgan guaranty trust
the conversion premium is 2495 pct
concern is heightened by the memory of the 1982 83 drought which devastated the wheat crop and coincided with the occurrence of the barely understood weather phenomenon known as el nino they said
areas may be slightly lower but analysts and agricultural experts said the steady rise in yields resulting from improved seed varieties and better farming techniques could offset this
french firm has five pct of calif
hovnanian enterprises hov 1st qtr may 31 net
oil industry sources said yesterday several gulf arab producers had had difficulty selling oil at official opec prices but kuwait has said there are no plans for an emergency meeting of the 13 member organisation
preston corp said it expects to report a loss of about 300000 dlrs or five cts per share for the first quarter compared with a profit of 1081000 dlrs or 19 cts per share a year before
hk dealers say nakasone g 6 comment too late
it said the outlook for beef exports as a proportion of output remains much the same as last year when it was around 55 pct of total production
congress is understandably nervous
he said the stock split would apply to holders of about 18 mln common shares of stock on the record date of september 15 1987
fluor flr wins general electric ge contract
earnings totaled 57 mln dlrs on revenue of 3984 mln dlrs
the yens surge has caused layoffs in the mainstay steel and shipbuilding industries
autoclave engineers inc aclv qtly dividend
in an unusually frank comment about the mexican deal he said that dissatisfaction with mexicos economic program and criticism of communication and coordination within the bank syndicate had prompted a number of banks to refuse to participate in the loan
chancellor of the exchequer nigel lawson presenting his budget for fiscal 1987 88 to parliament said uk economic growth was forecast at three pct in calendar 1987
canam manac said it will produce the trusses at its quebec and ontario plants and delivery will be completed by august
the minneapolis grain exchange mge will start trading futures contracts in high fructose corn syrup on april 6 if the commodity futures trading commission cftc approves the contract as expected next week
brazilian february output rose 92 pct from year earlier levels to 173 mln tonnes and that in south korea was up 75 pct at 117 mln tonnes
if they the finance ministers give the market something really new to look at that is some package that goes beyond the paris agreement you could have a real boost in the dollar said shearson lehman brothers analyst anne mills
the shipment of 22 mln barrels represents two days of consumption
finance minister gerhard stoltenberg said he was surprised by recent criticism of west german economic policies voiced by us treasury secretary james baker but added that the criticism was not purely one sided
celltronics celt declares one for 10 split
so far none of the soviet ships are known to have been attacked by iran
the company is a joint venture merchant bank between the bank of china first national bank of chicago and the industrial bank of japan ibjtt
that debt is guaranteed by the parent
the bonds started trading this morning at 20 stg pct
the minister of communications and transport abdel jabbar abdel rahim al asadi was also relieved of his post and replaced by a member of the ruling baath party regional command mohammed hamza al zubeidi
but because the kobe exchange uses the auction system which sets a fixed price at each session the price of contracts traded overnight should be a fixed price settled at the sixth session he added
exxon xon climbed one to 88 3 8 mobil mob one to 50 1 4 atlantic richfield arc 3 1 8 to 80 1 2 amoco an 1 7 8 to 84 1 8 and amerada hess one to 33 5 8
mexico gets 205 mln dlrs in world bank loans
shr 69 cts vs 64 cts net 66719000 vs 61773000 rev 2856 mln vs 2597 mln note earnings include after tax gain of 294 mln dlrs or 30 cts a share versus after tax gain of 314 mln dlrs or 32 cts a share for 1986 first quarter
they said the intervention occurred near the dollars early low of 14850 yen and the us currency subsequently firmed to 14905 15
the sale was opposed by the us commerce department and defence department partly on national security grounds
academy insurance group inc acig 4th qtr net
a samjens lawyer argued that if the judge granted the injunction it would kill the offer jay greenfield an attorney for samjens said the partnership would suffer irreparable harm if the injunction were granted
the strike by 40000 seamen comes as brazil faces a serious debt crisis brought on by a sharp deterioration in its trade balance
yeutter is in new zealand for a two day informal meeting of trade ministers who are reviewing the uruguay round of the general agreement on trade and tariffs gatt he said he will meet the japanese delegation over the next few days but declined to discuss methods of relieving the strain between the two countries
tbg said the decline in profits was mainly caused by losses in container rental activities
margaux controls inc margx 3rd qtr loss
prior year 2nd qtr and six mths excludes a loss of 54686 dlrs and 112565 dlrs for discontinued operations
david morrison of goldman sachs international said world market turbulence will be exacerbated if the group of seven g 7 leading western nations confirms a base for the dollar as implied by west german finance minister gerhard stoltenbergs remarks that intervention to support currencies is still on
ecuador says it will pay debt when it can
other primes range from 1625 to 175 pct
the bank of england said it had not operated in the money market during the morning session
despite the pact japanese producers are still dumping microchips in foreign markets other than the united states while us penetration of the japanese market has not increased he said
unless the english bill pertains only to 1987 winter wheat it is more than a simple disaster payment and feedgrains should be treated equally they said
s and p cited the firms tender offer to acquire conrac corp cax for 1525 mln dlrs
those who sow wind cannot expect the whirlwind to visit elsewhere he added
metex mtx chairman sells shares
matrix science corp said its board declared a two for one stock split and a six cent per share pre stock split dividend payable may 7 to stockholders of record april 16
confronted by new hostilities involving us forces in the gulf the us senate voted to end republican stalling tactics and limit debate on a measure that could give congress a larger role in gulf policy
however beginning with the fourth quarter of 1985 our improved performance is proof that our approach is correct for the long term the k mart chairman said
federated guaranty corp said its board declared a two for one stock split and raised the quarterly dividend to 6 1 2 cts per share post split from six cts both payable june one record may 15
birdcage walk ltd a company controlled by the walker family owns 2068 pct of the shares and is entitled to 272 mln convertible shares under the offer
rising profit from europe this year was forecast by chairman kenneth dixon in a statement
denman said while the ec is willing to negotiate about agriculture in a new round of trade talks it is unwilling to single out export subsidies on a negotiating agenda or put agricultural policy on a special fast track
japan to cut microchip output boost imports
it said the acquired division now known as merrill seattle becomes the companys 10th financial printing service center
the company also announced the formation of rare tech minerals inc a wholly owned subsidiary
chrysler corp said its chrysler first inc acquired a major portion of the commercial lending portfolio of beneficial business credit corp a subsidiary of beneficial corp
diplomat electronics corp said it will reduce expenses by four mln dlrs a year in an effort to stem losses and return to a positive net worth
health and rehabilitation properties trust said its board declared an initial dividend of 55 cts including 50 cts for the first quarter just ended and five cts from its initial operating period that began december 23
corrects current year operating net
the legal action now before swiss courts threatens to trigger cross defaults on all of domes debt toppling the delicate debt negotiations
the commonwealth bank of australias 16 pct australian dlr 101 pct bond issue of yesterday has been raised to a total of 125 mln australian dlrs from 100 mln lead manager swiss bank corp international said
the purchase follows banner receiving earlier today 310 mln dlrs under a credit agreement with citicorp industries credit inc and the bank of nova scotia and an additional 260 mln dlrs from offerings made for banner and its subsidiary through drexel burnham and lambert
tax 186 mln vs 184 mln making 552 mln vs 547 mln
shr 134 dlrs vs 109 dlrs net 154 mln vs 126 mln sales 3236 mln vs 2402 mln avg shrs 115 mln vs 115 mln year shr 95 cts vs 91 cts net 109 mln vs 9368000 sales 6288 mln vs 5131 mln avg shrs 115 mln vs 103 mln note latest year net cut on mln dlrs by investment tax credit loss
pacificare health systems inc said it is in negotiations to acquire capital health care a 40000 member health maintenance organization servicing salem and corvallis ore
cuts in the eep program are unlikely he said
according to the terms of the deal ranco holders will receive 40 dlrs a share in cash
moodys upgraded hughes tools senior debt to baa 1 from b 2 and subordinated debt to baa 2 from b 3
daiwa the us unit of daiwa securities co ltd of japan has become the first foreign bookrunner in the us corporate debt market this year
the april 9 committee meeting is expected to review the agreement by six industrialized nations in paris last month that newly industrialized countries such as south korea and taiwan should allow their currencies to increase in value
duff and phelps first monthly dividend of four cts was paid on march 10 it noted
perus reserves fell sharply due to a drop in the trade surplus to about five mln dlrs in 1986 from 11 billion in 1985 according to preliminary central bank estimates
current year net includes tax credits of 3205000 dlrs in quarter and 7305000 dlrs in year
arundel corp arl 4th qtr net
us senate trade leader concerned about canada
canadian pacific ltd said fourth quarter 1986 operating profit rose to 916 mln dlrs or 30 cts a share from 507 mln dlrs or 20 cts a share a year ago
it would be my thought that its not worth any effort to work out an agreement with someone who wants the agreement to be a one sided thing he said
simon is also accused of perjury and forcing one of his employees to pay him 14000 dlrs in salary kickbacks
ecuador has an opec quota of 210000 bpd
xie was quoted as saying the present cash shortage means some state firms do not run at full capacity and are inefficient
brougher insurance group inc said it plans to sell 40 pct of the stock of its subsidiary intercontinental corp for one mln dlrs to three european insurance companies
after the provision for loan losses morgans allowance for credit losses at the end of march totaled 953 mln dlrs compared with 910 mln at end 1986 and 815 mln a year earlier
weekly temperatures in the north china plain were near normal the agency noted
we have made the utmost efforts among the worlds manufacturers to improve productivity he said
britain has threatened to withdraw the licences of japanese banks and insurance companies to operate in the city of london because the british cable and wireless company lost out in competition for a japanese telecommucations contract
bohn said the bank was requesting a limitation of 1 billion dlrs for regular loan obligations of which up to 200 mln dlrs may be available as tied aid credits and a limitation of 10 billion dlrs for guarantee and insurance commitments
twa also said it believed its offer was a better deal for usair shareholders than an acquisition of piedmont but it said it alternatively would discuss a three way combination of the airlines
the awb called for an end to physical and legislative constraints at state borders that prevent the efficient transport of grains to other states for shipment
the report forecasts that in calendar 1987 indonesias ctc crushed torn and curled tea exports will increase significantly with the coming on stream of at least eight new ctc processing plants
it is not callable for three years unless the conversion price exceeds the stock price by 130 pct
the us expects more harmonious talks than usual during french prime minister jacques chiracs first official visit this week as frequently rancorous disputes between the two countries begin to fade
gold futures which previously had a limit of 25 dlrs per ounce in most back months were about 700 dlrs weaker in the nearby contracts amid thin volume conditions traders said
it had a daily circulation of about 20000 copies
offshore buying has also played a role in the booming australian share market
but analysts said output cuts could help by making it easier to increase prices as planned on april 1 and forcing firms to stop extending market share by selling at a loss
the 10 year eurodollar bond issue launched yesterday for norsk hydro at 8 1 4 pct and 101 5 8 pct has been increased to a total of 125 mln dlrs from the original 100 mln amount swiss bank corp international said as lead
us business loans fall 618 mln dlrs
the platinum coins would be made in four weights but the silver coin would be of one ounce weight
joe gold corp said it plans to proceed with development of its golden patricia gold property in northwestern ontario
desoto dso sells industrial chemical assets
health experts urge eradication of rinderpest
etl has declined to say why it intervened in monier beyond describing it as a long term investment
the group said it also reserved the right to pursue other measures intended to influence fairchild management and policies either alone or in concert with other investors
the agreement calls for northview to make a self tender offer for all of its outstanding stock at a price of 22 dlrs per share in cash
the new issue could raise the banks share capital by 200 mln finnish marks from the present 226 billion it said
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
the fund said the dividend represents two cts per share for net investment income realized during 1986 and 110 dlrs from net taxable gains realized during the year
c and h bancorp has assets of 257 mln dlrs and is the parent company of citizens heritage bank na the companies said the agreement calls for each of the about one mln shares of c and h bancorp to be exchanged for one share of fifth third bancorp
the nations agreed that currency exchange rates were at about the correct levels when the pact was signed earlier this year
eurofer added the industry would need the support of the commission and governments in carrying out a closure program particularly with social costs such as redundancy payments
final terms will be fixed on march 12
vaskevitch was suspended by merrill which said it was cooperating with the probe
fiat may issue bond for libyan stake paper says
in the fiscal year ended october 31 1985 sulpetro had a net loss of 456 mln dlrs or 390 dlrs per share
long negotiations to reschedule some debt are now producing results
miyazawa says yen still inside paris range
shr 49 cts vs 50 cts net 3922533 vs 3979580 note full name montgomery street income securities inc
shr nine cts vs six cts net 242000 vs 135000 sales 4003000 vs 2968000 six mths shr 17 cts vs 14 cts net 414000 vs 297000 sales 754000 vs 5912000 avg shrs 24 mln vs 21 mln note 1986 net includes tax credits equal to one cent in the quarter and two cts in the six months
accepted bids ranges from 592 to 599 pct and 60 pct of the bids at the high or stopout rate were taken
uk money market deficit forecast at 400 mln stg
allied signal inc to sell linotype group to commerzbank of west germany
i have no information at all president reagan said on sunday he had already made a decision on the us response to fridays iran attack but would not say what the decision was
the seasonally adjusted rise in starts included a 51 pct increase in september single family unit starts to 1168000 from 1111000 in august
bank of americas west german branch lost some 32 mln marks in 1985
diversified also said it is in the process of obtaining six mln dlrs in an industrial revenue bond financing from the state of connecticut to modernize the companys plume and atwood brass mill plant in thomaston conn
mcclain industries inc said its board declared a four for three stock split payable 30 record april 15
japans more flexible stance on tokyo stock exchange membership would also help deflect criticism he said
general partners which launched the surprise tender offer today said it already 2180608 shares of gencorp or 94 pct of the total outstanding common stock
it said it may waive the condition that at least 5116892 shares be tendered as long as it received at least a 501 pct interest
the federal reserve may intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements economists said
first boston inc said it has started its previously announced tender offer for all common shares 219 dlr cumulative preference shares and 1125 dlr convertible preferred shares of allegheny international inc at 2460 dlrs 2000 dlrs and 8750 dlrs respectively
bangladesh money supply rises in december
nakasone already under fire over an unpopular tax reform plan may now be forced to resign before the june economic summit of seven industrialised nations if local elections later next month go against candidates from his ruling liberal democratic party ldp they said
baker warns against forgiveness of latin debt
ruter
united grain corp of oregon won three contracts to supply 93000 tonnes priced from 9232 to 9319 us dlrs per tonne c and f taiwan for delivery between may 10 and july 30
stoltenberg said west germany had a keen interest in a swift agreement between the us and japan concerning the current trade dispute over semi conductors
although the heavy placements were expected analysts noted reports that many cattle put on feed were relatively lightweight and said feedlot operators would feed the lighter cattle into the autumn rather than market them during the summer as would be the case with the heavier cattle normally placed on feed
on a customs cleared basis crude oil prices rose to around 17 dlrs a barrel in february from about 15 dlrs in january
gold bullion continued to move higher supported by good general buying and was fixed this morning at 43650 dlrs 268368 stg an ounce up from fridays close of 43200 50 dealers said
but for the moment were still in a trading range even unexpected developments concerning the growth of the us economy may not be enough to spur the market out of its sluggish state the analysts said
reagan and mulroney are scheduled to meet april 5 6 in ottawa
iraqi troops reported pushing back iranians
firms in submitting offers may elect to receive payment from the mint by standard check or by wire transfer
i am sure we will see a lower current account deficit for next year and a fall as proportion of gdp australia posted a 1382 billion dlr current account deficit in 1985 86 and keating said the latest monthly figures showed an encouraging trend
japans customs cleared trade surplus fell to 189 billion dlrs in the first 10 days of march from a 191 billion surplus a year earlier the ministry of finance said
the united states has accused japan of reneging on the semiconductor pact by failing to stop the flow of cut price japanese chips to asian markets
he will also will meet finance secretary jaime ongpin and trade and industry secretary jose concepcion
i wish to emphasise that the growth in the volume of the external indebtedness of african countries reflects the full effect of the deflationary monetary and trade policies of the developed market economy countries mamman said
terms were not disclosed
an official for pechiney said an agreement of intent on packaging could be signed soon but could not give any other details
qtly div 35 cts vs 35 cts prior pay april 30 record april 10
a diw report added the general downturn in the economy since last autumn had had a negative effect on the willingness of firms to take on workers
the group had said in a march 10 filing announcing acquisition of 54 pct of the firms stock that it might consider seeking control of the company
oper shr 39 cts vs 47 cts oper net 2104462 vs 2452420 revs 4675904 vs 4744248 avg shrs 5427561 vs 5139415 1st half oper shr 82 cts vs 93 cts oper net 4418718 vs 4609613 revs 9346483 vs 9338590 avg shrs 5427486 vs 4943966 note current year net excludes gains on sale of real estate of 470778 dlrs in quarter and 1533273 dlrs in half
maximun prices in australes per kilo with dollar equivalent in brackets included today wednesday steers over 480 kilos 1020658 10150654 steers 460 to 480 kilos 1050677 10320665 cows for canning 0560361 056 0361
stonecipher said the companys product will be marketed through at least two ich subsidiaries
shr loss 3109 dlrs vs loss 186 dlrs net loss 1127 mln vs loss 55 mln note 1986 loss includes operating loss of 1094 mln dlrs or 3021 dlrs a share including an additional loan loss provision of 68 mln dlrs write downs in the value of real estate of 13 mln dlrs and an extraordinary loss of 33 mln dlrs for early retirement of long term debt
in a statement the finance ministry said the process for formalizing the package was going as planned
balladur urges g 7 to respect louvre accord
in a statement with its 1986 results the company said its information and entertainments sectors financial times ft newspaper had record sales and profits
essex chemical corp is raising 60 mln dlrs via an offering of convertible subordinated debentures due 2012 with a six pct coupon and par pricing said lead manager thomson mckinnon securities inc
but no one is sure what the impact will be
moodys said it would assess future prospects for the company as well as for the whole catalogue showroom industry
the consensus among administration officials seems to be that brazils latest debt crisis is the result of the domestic economic problems
industrial equity pacific ltd iep the hong kong listed unit of brierley investments ltd bryawe said it has lifted its stakes in british oil company ultramar plc umarl and us firm ogelbay norton co iep told the stock exchange it now holds 3603 mln ultramar shares representing 1307 pct of the issued capital
1986 qtr and yr oper net also excludes 102300 dlrs and 257300 dlrs respectively for tax loss carryforwards
sumitomo metal sets up london osaka finance firms
kdi a diversified company produces electronic components technical products and swimming pool equipment
oper shr 12 cts vs five cts oper net 1715000 vs 730000 sales 121 mln vs 7719000 avg shrs 139 mln vs 137 mln nine mths oper shr 32 cts vs 18 cts oper net 4379000 vs 2266000 sales 328 mln vs 233 mln avg shrs 138 mln vs 124 mln note prior year net excludes extraordinary credits of 340000 dlrs in quarter and 1190000 dlrs in nine mths
gartner said its wholly owned subsidiary purchased the interests of its former partners for an aggregate price of 1125000 plus a percentage of net sales proceeds on future sales of certain products
since then however both the central bank and finance ministry have made it clear they favour lower official rates
talks are due to begin in moscow on wednesday
oil prices the debt crisis the world recession all call for major policy adjustments and external support conable said in his arrival statement
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
the dollar was holding firm at above 142 yen on tuesday morning
adm export co of minnesota received a 54000 tonne cargo at 9375 dlrs per tonne for november 1 15 delivery
petro canada to drill two terra nova test wells
some analysts said the latest 306 mln dlr offer for purolator exceeded their expectations
iomega said the first quarter loss will place the company in default under certain covenants in its bank line of credit unless these covenants are modified
but it has caused an outcry among bankers who say it will push up borrowing costs
but the agency cautioned this did not reflect a change in the units underlying credit strength
benequity has 57 mln units outstanding
in line with central bank policy he declined to give any details of the amount bought
however the decline in the market made it appear that they could no longer justify the overhead
qtly div 35 cts vs 35 cts prior pay april one record march 14
the national census and statistics office ncso said imports of 436 mln dlrs in january were up from 371 mln in january 1986 and 393 mln dlrs in december while exports of 368 mln were up on the 314 mln in january 1986 but lower than decembers 421 mln
each warrant priced at 955 swiss francs entitled holders to acquire five ounce bars of 999 gold in the period from april 30 1987 to july 31 1991 exercisable on wednesdays
the issue is guaranteed by bacob savings bank
the course of fed policy is quite adequate as far as we are concerned baker said in an interview with the new york times
debt issues of major money center banks will probably continue to trade off until such time as the brazil situation is resolved said loretta neuhaus a vice president with merrill lynch capital markets
franklin pennsylvania tax free in initial payout
free state consolidated last year produced 104 tonnes of gold from 28 underground shafts
todays registrations comprised 1076226 bags to members and 326259 to non members of the international coffee organisation
the index for industrial production base 1980 was set at a seasonally adjusted 1098 in january after decembers 1094 and compared with 1082 a year earlier
shr 27 cts vs 24 cts net 5223000 vs 4682000 avg shrs 197 mln vs 194 mln note results reflected pooled acquisition of first community bancshares inc on march 31 1987 and include camden bancorp from january 31 1987 purchase
the investment company said after the merger the combined company will have 15 mln shares outstanding
she said traders will get a better idea of next years cotton output when the usdas planted acreage report is released on july 9
p and o will concentrate on expanding in its established market sectors
shr 69 cts vs 67 cts net 2488000 vs 2435000 revs 276 mln vs 265 mln
the company also said it intends to recommend an increase in its annual regular dividend to at least two dlrs per share before the split beginning with the may dividend
heyman has decided to reconsider its offer to acquire gaf
pegasus estimated that 1987 production at the zortman landusky mine will be about 80000 ounces of gold and 225000 ounces of silver
ecuadorean officials held their last formal meeting with the advisory committee in new york in january but the negotiations were suspended on january 16 due to the 12 hour kidnapping of president leon febres cordero by air force paratroopers
this has been viewed with concern by some members who fear the inra may become indebted and ultimately face collapse like the international tin agreement
however bryson said the market may be looking at the potential for shares in a publicly traded subsidiary
lyng said he is optimistic the ruling will favor the us these are quota items and the principles that apply to them it seems to me will have some bearing on the question of whether you would have quotas or not on beef and citrus lyng told in an interview
the us unit of nomura securities co ltd of japan acting as sole underwriter won in competitive bidding 250 mln dlrs of extendible notes of general electric credit corp a subsidiary of general electric co ge the rockwell deal is daiwas second as lead underwriter
flagler bank corp flglao 1st qtr net
lafalce a member of the house banking committee said the facility was needed because most american banks were refusing to fund more foreign debt and debtor countries were having trouble paying the loans on schedule
noranda also has an option until june 30 1988 to acquire an additional 1000501 sanivan treasury shares at 575 dlrs per share
taft broadcasting co did not comment on the 145 dlr per share offer
lead prices have risen this week against a background of a finely balanced physical sector traders said
miyazawa says major nations acting on paris accord
in fixed rate bonds the tone was likewise quietly firmer with euroyen and eurosterling maintaining their recent bullish trend and activity in dollar straight and ecu denominated bonds also picking up slowly
ibm said rolm will retain responsibility for the worldwide manufacture and development of rolm products
one member of the soybean delegation said that the meeting was a listening session for usda and that the proposals will now be studied further by the department
in colombias case we watch with consternation that while we try to effectively combat drug trafficking countries which support us in this fight seek to cut our jugular vein cardenas said
sigma research onc sigr 2nd qtr dec 31 loss
it said cwt inc which has operations in the midwest and southeast has annual revenues of approximately 135 mln dlrs
payment is due march 18
lieberman enterprises inc said carolco pictures inc is negotiating for the acquisition of the 50 pct of lieberman shares held by the families of chairman david lieberman and president harold okinow at 2050 dlrs each and if the deal were concluded public shareholders would be offered the same price for their shares
moodys investors service inc said it downgraded niagara mohawk power corps 22 billion dlrs of debt securities and preferred stock
duquesne first mortgage bonds and debentures were lowered to dp 9 middle bbb from dp 8 high bbb preferred stock rating to dp 10 low bbb from dp 9 and preference stock to dp 11 high bb from dp 10
one analyst said another factor in the latest hughes turnabout was borg warner corp bor which owns 185 pct of hughes
reported high grade tin business in london was confined to end april metal at 4225 stg
the decision to make the payments in a 50 50 cash certs ratio was made monday but payments to producers will be delayed until mid month due to a problem with usdas computer program von garlem said
fundamental brokers inc a major us brokers broker has decided to launch yen bond broking on its display system in new york as early as april
at an opening address to the annual meeting of the inter american development bank here baker is likely once again to bluntly reject alternative approaches like wholesale debt relief
continental airlines inc a unit of texas air corp said it filed a registration statement with the securities and exchange commission for an offering of 350 mln dlrs of equipment certificates
shr loss eight cts vs profit four cts net loss 365430 vs profit 165508 revs 5577244 vs 4643803 note 1986 net includes nonrecurring expenses of 408518 dlrs
kohl made clear the dismantling would mainly hit german farmers who without mcas would find it much more difficult to export to weaker currency states which means virtually all other 11 ec states diplomats said
nigeria and britain signed an agreement to reschedule nigerias official debts in the first of an expected series of such talks government sources said
supermarkets general gets unsolicited bid for 4175 dlrs shr cash
plm cos inc said its plm power co unit broke off merger discussions with sunlaw energy corp of beverly hills calif
egypt has been authorized to purchase about 200000 tonnes of us wheat under an existing pl 480 agreement the us agriculture department said
national bancshares nbct to have gain on sale
the proposed legislation is aimed at preventing large oil refiners and marketers from using predatory or monopolistic practices against franchised dealers
dutch port employers resume lay off plans
campeau acquired allied for an estimated 42 billion dlrs on jan 1 following a battle with debartolo
he would also not comment on when a better alternative might be developed
the previous record low was 3383 pct at the last auction on february 12
the four member mission is expected to stay two to three weeks
he said the reagan administration has yet to decide on a retaliation list
other financing for the project will come from sri lanka 71 mln dlrs and west germany 800000 dlrs the ida credit is interest free and for 50 years
however the company said net income was 1069 mln dlrs three pct below 1985
she said if private sector investment continued to be held back by the fear of a balance of payments crisis and rising interest rates the country would fail to achieve its gross national product gnp growth target of an average 65 pct over the next six years
leaseway transportation ltc completes unit sale
crandall said that previously firms activities were limited to trying to sell us securities to european investors
barbados seeking 25 mln stg revolving credit
31 1986 as previously reported
the value of credits given cannot exceed either one fifth of the combined capital and reserves of the bank itself or two fifths of the value of the stake owned in the bank by the group or individual concerned
toshiba information systems uk ltd a unit of japans toshiba corp tsbat said it planned to enter the uk business facsimile and key telephone market and forecast a turnover of 100 mln stg by 1990 for its full range of office automation equipment
speaking to reporters after nearly five hours of meetings with the 10 premiers mulroney said further discussions would be held in june and september to discuss the role of the provinces in approving any new trade deal
but a further dollar depreciation against major european currencies and the yen may not be the best way to restore the dollar to a fully competitive position as measured by its weighted external value he said
bryson said its board has been considering a number of possible investments to expand the companys interests and believes the opportunity to acquire an investment in cenergy provides a suitable extension to its existing us interests
the remaining three principal instalments originally due in march 1987 september 1987 and march 1988 will each be deferred for two years from the due date banking sources said
oper shr loss 607 vs loss 764 dlrs oper net loss 6235000 vs loss 4801000 sales 701 mln vs 606 mln avg shrs 1028000 vs 629000 note 1986 earnings exclude a gain on restructuring of 3143000 dlrs or 301 dlrs a share
continental federal savings and loan association said it was told that an estate holding 38 pct of its stock plans to sell its stake at a premium over the current stock price
philippine officials and a 12 bank committee have been meeting for the past four weeks in new york in a bid to reschedule 94 billion dlrs of foreign debt
the issue price represents a premium of 657 pct over the stocks closing price of 653 yen
takeover battle for dome petroleum begins
toshiba could be first to feel uk trade anger
dynalectron will operate the plan as dynair tech inc and is offering continued employment to about 460 former standard aero employees
the warrants expire on january 8 1988
at the end of 1986 audis workforce stood at a record 39800 a rise of 3400 over 1985
many mills are not working because of a lack of spare parts it added
ivorian officials last week said bra kanon was due to return home for funeral ceremonies for a sister of ivorian president felix houphouet boigny march 19 22
ferruzzi said the deal is subject to agreement on several clauses of the contract and needs government authorisations
analysts said jardine will book revenues from its dairy farm stake for the final months of the year as part of its retail business which will increase its overall retail income figures
other primes range from 1625 to 175 pct
bankers trust new york corp said it has placed its approximately 540 mln dlrs of medium and long term loans to brazil on non accrual status and that first quarter net income will be reduced by about seven mln dlrs as a result
japanese companies have become among the worlds richest after a series of boom export years and as the yen has climbed against the dollar by some 40 pct in the past 18 months
total net reserves including reserves held by commercial and major savings banks and corrected for exchange rate adjustments rose to 58373 billion crowns in may from 47835 billion in april against 32443 billion in may 1986
gunma bank issues 50 mln dlr convertible eurobond
when pickens and icahn get together we want people to know about it proxmire said
an underwriting group will be led by goldman sachs and co
enka bv a subsidiary of akzo nv akzoas said it has concluded a licence agreement with the fibres division of basf corp of delaware a unit of basf ag basff of west germany in the us on the colback industrial non woven fibres
the impact of that and several smaller deals will be felt fully in 1987 taylor said
previously it dclared a special interim dividend of 42 cts for january 1 to march 9 in connection with its recently completed offering
monetary compensatory amounts mcas will be unchanged for the week starting april 6 ec commission officials said
ames department stores inc fell 1 7 8 to 23 in what analysts said was a reaction to a surprise announcement earlier today by the company that earnings in the fiscal year ended january 31 will decline sharply
total fees of 1 7 8 pct comprise 5 8 pct for management and underwriting and 1 1 4 pct for selling
france sets 95 billion franc t bill tender
domestic prices of medium grain relative to long grain have increased the loan differential has been greatly reduced and increases in long grain yields relative to those of other classes have leveled off
the company said earnings from operations in the second half ending june 30 1987 excluding the charges are expected to be in the break even range
analysts said the proposals will allow att to cut costs in the long distance unit and increase its profit margins previously constrained by the rate of return
the bonds are also better for those who expect the australian dlr to appreciate
libras net worth increased by 24 pct to 134 mln stg last year and belmont said the improvement to the banks balance sheet was due to profits being mostly retained in the bank and to the issue of 10 mln stg of cumulative redeemable preference shares during the year
a us appeals court last night blocked the 860 mln dlr merger of delta airlines inc daln and western airlines just hours before it was to go into effect because of a dispute over union representation
another working group is scheduled to meet wednesday to discuss administrative matters and the full council meets on thursday
traders said the buffer stock purchases could reach 75000 tonnes fairly quickly once buying starts
but sindt denied usda is planning any such changes
bankers said they were forced to break their word because political circumstances had changed in the past few weeks
the company said the rising political controversy in the us concerning the venture made it unlikely that the sale of the fairchild stake could be completed within a reasonable time
most expect the economy to continue showing modest gains that the dollar has more room to fall and that the fed will keep policy essentially steady perhaps for several months
the magazine said china aims to keep 80 pct of national farmland under grain 10 pct under cash crops and 10 pct under other crops although the ratio will vary from place to place
cotton planting continued progressing in the week ended april 5 but cold wet weather in the south hampered seedbed preparation the joint agricultural weather facility of the us agriculture and commerce departments said
earlier today usda rejected its bids of 70 dlrs for both varieties they said
president reagan has reaffirmed his opposition to protectionism and his chief spokesman said trade sanctions imposed on japan were unlikely to start a trade war
charter federal savings and loan association of bristol va said it has agreed to acquire jefferson savings and loan association of warrenton va
the momentum of industrial activity is tapering off as we end the first quarter said stephen roach of morgan stanley and co inc
we were able to make our case against them here he said
outer continental shelf sale postponed
but capital spending by nippon kokan kk nkkttok to improve and increase its production facilities will rise to 9490 billion yen from 64 billion the company said
turning to the public sector borrowing requirement psbr lawson said the likely outturn for fiscal 1986 87 was 40 billion stg or 10 pct of gdp
there is also a view among european traders that while the proposed kuala lumpur tin futures market would provide another useful reference point a market inaugurated by the malaysian government in the past viewed as a major player at times by the trade would make participants uncomfortable
the value of the contract was not disclosed
other estimates ranged as high as 500 dead
the fall in rice production is caused by an outbreak of pests known as wereng or brown plant hoppers in 1986 which largely offset gains in yields
us sugar imports down in week usda
with a 26 billion dlr debt the loss of logging foreign exchange earnings is serious he said
interfirst corp ifg 1st qtr loss
the united states is prepared to pull out all the stops to defend its agricultural trade rights under the general agreement on tariffs and trade gatt us ambassador to gatt michael samuels said
qtrly div five cts vs five cts prior pay april 27 record april 20
american express says its holding talks on sale of shearson stake to nippon life
universal furniture ltd ufurfo 3rd qtr net
andriessen is thought to be prepared to cut cereals prices by seven pct and to take other drastic action trade sources said
ivory coast boosts maize output
he said the proposals might raise gasoline prices
current year net both periods includes 150 mln dlr pretax charge from previously announced restructuring of datachecker systems and semiconductor group manufacturing operations
revenues rose to 2918 mln dlrs from 1511 mln dlrs
british airports authority seeks credit facility
why not put the money in australia where entry is cheap and the currency looks stable but turning that capital into more permanent productive investment depends on government economic policy he said
chi chis today reported a loss for the third quarter ended january 31 after the pretax charge and a 7305000 dlr tax credit of 104 mln dlrs compared with a year earlier profit of 2144317 dlrs
its hard to tell whether the g 6 agreement still stands a dealer said
israels five year plan to boost agriculture
senate majority leader roger moe was quoted as saying he would be inclined to support any action that would help the company the spokesperson said
the slowdown would bring the inflation rate to 325 pct for the whole year sharply up from last years 22 pct
clevites stock was trading on nasdaq at 13 1 4
my primary desire is still to sit down with management to negotiate a friendly acquisition he said
the buffer stock has around 250 mln dlrs in funds and a buying limit of 250000 tonnes of cocoa 100000 tonnes of which are already in the buffer stock
the trust which will accept up to 75 mln shares of american home products ahp said it has already received tenders for about four mln shares
assets of us money funds rose in week
the spokesman said that on both tuesday and wednesday two different clearing banks had system problems and the securities and federal funds wires had to be held open until about 2000 or 2100 est on both days
he estimated the job itself would require 35 working days
lusinchi said on monday the government will limit foreign borrowing which would come from banks and multilateral agencies to 50 pct of interest and principal paid in the next two years
rapeseed and meal usage during the season also rose 14 pct to 409000 tonnes from 360000 but citruspulp fell 37 pct to 516000 tonnes from 826000
tokyo is expected to propose a joint us japan investigation of american claims that japanese companies are dumping cut price chips in asian markets
march is usually a tight month for the money market because of tax payments and banks need to attract funds for their year end accounts on march 31
us sets 95 billion dlr year bill auction
north east neic may violate capital rules
april heating oil ended 124 cts higher to 5165 cts a gallon while april crude settled 28 cts higher at 1864 dlrs
consumer delegates said they had not been prepared to accept the producers offer to abandon quotas if it proves impossible to find an acceptable basis for them
however schroeder hohenwarth said the decision to cut the maximum rate of income tax to only 53 pct from 56 pct was rather half hearted
but it was not possible to make a profit forecast for 1986 87 because of uncertainty about the direction of the dollar kaske said
they have no choice to seek out the best possible offer
president reagan said the commerce department should be vigilant in preventing the flow of strategic technology from reaching the the soviet union and other communist countries
is that it i was expecting something more than that said one trader at a major wall street securities company
us treasurys baker says rate shifts orderly
finance minister cleopa msuya said the government expected to spend 7733 billion shillings in the financial year 1987 8 39 pct more than this years estimate
no confirmation or further details were immediately available
sugar traders forecast likely ec sugar rebate
the company said it expects to finalize an agreement before the end of the 30 day grace period on april 14
biotech electronics inc ionto 3rd qtr net
soviet grain for feed use was estimated at a record 129 mln tonnes
president reagan and defense secretary caspar weinberger warned iran of even stronger countermeasures if the military escalation between the two countries continued in the volatile waterway
musa said liberia was invited to join and its share will be decided after a project feasibility study
rubber contracts are traded fob up to five months forward
as a solution the oecd staff has urged japan to redirect its export driven economy boosting domestic demand and imports by adopting a more flexible fiscal policy they said
no details were available and bankers were not available to comment because meetings with the philippine negotiators were still in progress
ugandas coffee marketing board cmb has stopped offering coffee on the international market because it is unhappy with current prices coffee trade sources said
in the north sea market small cargoes of propane were sold as high as 126 dlrs per tonne on the fob basis early in the week but prices eased after the majors posted their april contract prices traders said
linotypes group turnover in 1986 rose 15 pct to more than 500 mln marks the bank said
chinas 1986 trade deficit totalled 12 billion dlrs official figures show
japan is now the second largest shareholder in the banks concessionary lending affiliate the international development association ida it has also agreed recently to expand its contribution to another affiliate the international bank for reconstruction and development ibrd conable noted
the agreement struck late last year after months of heated negotiations called on japan to stop selling cut price chips on world markets and to buy more american made semiconductors
shr 22 cts vs 12 cts net 3243000 vs 1656000 revs 284 mln vs 215 mln note all amts reflect 3 for 2 stock split of companys common in form of 50 pct stock dividend paid feb 26 1987
it said in a statement it forecasts a net cash withdrawal from the system over the settlement week
the banks parent company gross operating profits were up 54 pct at 2134 billion francs against 2024 billion in 1985
accordingly the vote of an additional 371 pct of the outstanding shares will be required to approve the merger tender loving care said
caesars worlds boasrd has urged rejection of the offer on the grounds that it is inadequate and has said it would investigate alternative transactions
amoco said wyoming southwest sweet colorado western and two utah grades of oil black wax and yellow wax were unchanged
additionally the companies said charles wang currently computer associates chairman and chief executive will continue as chairman of the new company
finance ministry officials were unavailable for immediate comment
he said indonesia was in contact with consumers such as the us japan the netherlands west germany and canada ahead of an ico executive board meeting scheduled for april 1
even if the immediate crisis is resolved the problem is not expected to disappear permanently
the federal reserve entered the government securities market to arrange six day repurchase agreements for system account a spokeswoman for the new york fed said
bradford sees armco earning 50 to 75 cts a share in 1987 before special gains from recouped investment tax credits against losses last year
the bank of japan intervened just after the tokyo market opened to support the dollar from falling below 14000 yen dealers said
traders in paris said they expect maximum rebates of between 43 and 4350 ecus
rep
the us agriculture department said private us exporters reported new sales of 900000 tonnes of corn to the soviet union and 350000 tonnes of corn switched from previously announced unknown destinations to the ussr
german call money eases after liquidity injection
italys overall balance of payments showed a 919 billion lire surplus in september against a deficit of 1026 billion in august provisional bank of italy figures showed
french bond committee approves three issues
farmers are now making their planting decisions so something has to be done quickly if a 0 92 program is to be implemented an agriculture department source said
vermont financial services corp said its board approved a regular 20 cts per share cash dividend payable april 25 to shareholders of record march 26
the 8 dlr a share offer by entertainment marketing inc em for crazy eddie comes less than two weeks after founder eddie antar and a firm controlled by the belzbergs of canada announced a bid to take the 32 store crazy eddie chain private
record or near record livestock inventories along with a dry fall which likely reduced late season pasturage and a cold winter have increased feed demand usda said
we perceive the current scandals as a warning of even worse things to come markey said
brazil industrial production slowed in january
tradestar corp said it acquired image video inc for an undisclosed sum
great american gtam sees charge writedown
he repeated the us demand that japan lift the quotas on beef and citrus after march 31 next year
bfg partial operating profits fall sharply in 1986
since last august smart has been leading talks to open up japan to purchases of more us made automotive parts
ten of the departing companies were based in san francisco
media general says giant group affiliates have 98 pct of class a common stock
the sterling yen rate was about 24034 44 today up from 23450 at the start of the calendar year and a narrow range of 230 to 234 late last year
year to feb 28 shr 17003 cts vs 15330 pre tax 3733 mln rand vs 3410 mln net 3733 mln vs 3365 mln tax nil vs 45 mln final div 900 cts making 1600 cts vs 1450 div payable april 24 register march 20
bolt beranek bbn files for debenture offering
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
in january last year the index stood at 106 and in december 1985 at 101
basf ag basff said net profit of its us operating company basf corp rose last calendar year to 105 mln dlrs from 39 mln in 1985
economic spotlight ems marks eighth birthday
an additional 3925 head of dairy cattle are still available to the canary islands under the export enahcnement program initiative announced july 28 1986 it said
sunflower maize and sorghum harvests were particularly affected they said
the company said earnings per share for the period should be between 23 cts to 26 cts
an additional 761 head of dairy cattle are still available to gulf countries kuwait bahrain oman qatar and the united arab emirates under the export enhancement program initiative announced october 30 1986 it said
but banks had to draw heavily on the lombard emergency financing facility due to month end tightness borrowing 53 billion marks
peps boys manny moe and jack pby set payout
the survey also showed that 23 pct of the polled companies consider current order books to be above normal while 58 pct view them as normal and only 19 pct regard them as below normal
miyazawa says us likely to intervene
meanwhile stoltenberg is dealing with a local political row which has turned into the countrys worst political scandal
in that connection they welcomed the strong implementation of the louvre agreement
the utility said transcontinental will transport the gas being purchased from shell oil possibly beginning as soon as november 1
bear stearns handled the trade
the country which has enjoyed strong political support in washington since corazon aquino came to power early last year owes an overall 278 billion dlrs of debt
kelley said it currently owns working interests in some of the properties
the coruna based plant with an annual capacity of 27000 tonnes and a 55000 tonnes per year facility that emp will start up in tarragona next year will make the state refiner spains biggest producer of mtbe
kuwait says opec 24 mln bpd below ceiling
i dont know and i dont think anyone knows said hugh richardson acting head of the ec delegation in tokyo
traffic was halted briefly late tuesday night wednesday and parts of thursday on stretches of the rhine between bonn and koblenz but the shipping bans were lifted the officials said
intelligent systems added that if current plans to sell some of its assets as previously announced are successful it may make further distributions estimated at 15 cts to 25 cts a unit
no figure for the final deficit was avaialble
paper will be issued in minimum denominations of 500000 dlrs with maturities of up to 365 days
nuis major subsidiary is utility elizabethtown gas
rotterdam port subsidy to end july 1 minister
getty petroleum gty year net
mauritius gets 25 mln dlr world bank loan
ccc credits for bangladesh amended usda
additionally twa said it would need a satisfactory due diligence review of usair
washington gas light co wgl hikes payout
without the usda program it would not have been possible
the researchers said in the new england journal of medicine that their procedure promises to be a rapid sensitive and reliable method for the prenatal diagnosis of sickle cell disease in addition they said the technique might also be adapted to detect other types of genetic disease
heyman two years ago attempted an unsuccessful takeover of union carbide corp but gaf benefited from that companys restructuring
this is reflecting a tremendous amount of optimism on the part of the investment community that the outlook for the industry for the future is extremely attractive peters and co ltd oil analyst wilf gobert said
the chapter 11 filing means that texaco will not be paying interest on its eurobonds
spains foreign reserves rose by 905 mln dlrs in february to total 1705 billion dlrs compared with 1411 billion dlrs in february 1986 bank of spain figures show
they particularly welcomed the goal of an immediate increase in public works spending but lawson said the package also involved a second stage to increase expenditures during the second half of this year
pittsburgh and west virginia pw 3rd qtr net
duke power duk sells 10 year mortgage bonds
the company completed conversion from mutual to stock form in october 1986 raising 141 mln dlrs in net proceeds through the sale of 23 mln shares of common stock
on another issue poehl has said the bundesbank is likely to lift restrictions on private use of the european currency unit ecu at one of its meetings soon
a conrac spokesman declined comment
poland czechoslovakia hungary and romania are members of gatt but none has chinas massive market potential for imports or its vast labour pool to produce cheap exports
in 1986 the ec was chinas third largest trading partner with chinese imports from the ec worth 57 billion dlrs and exports worth 26 billion dlrs
shr primary 29 cts vs 26 cts shr diluted 27 cts vs 23 cts net 1500000 vs 1008000 revs 30 mln vs 231 mln avg shrs pimary 5254000 vs 3821000
lvi said an additional 10 mln dlrs in common stock and seven mln dlrs in notes will become payable if spectrum has certain minimum future earnings
australia expects meat and livestock exports to the middle east to maintain an upward trend this year managing director of the australian meat and livestock corp peter frawley said
while modest open market intervention was apparently enough to defuse any funding pressures in the first week of the latest statement period economists predicted that the fed would have to be more aggressive in coming weeks
but he added that the last central bank council meeting on april 2 had discussed the economic situation with a mood of subdued optimism particularly influenced by the news brought by several state central bank presidents
they described the results announced saturday as normal and unspectacular considering that the grind in the fourth quarter was rather high and some was carried over into the first quarter
treasury secretary james baker said banks must do more lending to developing countries
close links would continue with these producers particularly colombia mexico and francophone african countries but dauster said no joint marketing action was envisaged at present
first city said it is seeking to increase shareholder values by improving and realizing the values inherent in its operating subsidiaries
cincinnati bell inc said it has started its previously announced 1575 dlr per share tender offer for all shares of auxton computer enterprises inc
the debentures are convertible into the companys stock at 3050 dlrs per share representing a premium of 2577 pct over the stock price when terms on the debt were set
it also has a loan center in new hampshire
the issue is guaranteed by fuji bank
s and p assigned an a rating to the companys 200 mln dlrs of convertible exchangeable preference stock and affirmed its a plus senior debt and a 1 commercial paper
proceeds will be used to retire short term debt and fund the companys current construction program united cities said
ecuador had enough oil to meet domestic demand for about 35 days and would have to import crude to supplement stocks
viceroy resource corp details gold assays
if a move comes before march 17 forecasts are for a half point cut with another half or full point about budget day
dow said that effective april 15 the selling prices for most grades of magnum abs resins for the injection molding custom sheet and automotive markets will rise six cts a pound instead of the three cts a pound announced previously
trading did not open in these issues either
transcapital tfc unit closing 12 offices
varian var buys analytichem international
british frustration over the lopsided trade balance nearly six billion dlrs in japans favour last year has reached boiling point over the telecommunications issue howard said
first quarter growth is put at a 24 pct annual rate slowing to 21 pct next quarter
bank of france to hold money market tender today
the purchase authorization covers the entire quantity of rice provided under the agreement
the spokesman said the problems affecting sulphuric acid and roaster plants that had halted production since may 4 had been resolved
eurofima issues 125 mln ecu 10 year eurobond
mobil also said that effective today it changed its gravity adjustment scale as follows from 20 degrees to 34 degrees api mobil will adjust its price 0015 of a ct per one tenth of an api degree
there is a put option on may 7 1993 which will give the investor an indicated annual yield to the put of 8 1 2 to 8 3 4 pct
the official who declined to be identified told sandoz had made a substantial addition to reserves to cope with the consequences of the accident at schweizerhalle which caused severe pollution of the rhine
it added that other japanese banks may participate in future issues
it considered those conditions unreasonable in the interest of trying to negotiate a friendly transaction it said
cftc said the exchange plans to begin trading a july 1987 hfcs 55 contract on april 6
chartered bank net foreign currency assets fell 23 mln dlrs to minus 192 billion dlrs
the us treasury said its weekly auction of three month bills produced an average rate of 563 pct with a 559 pct rate on six month bills
the plant has been closed since dec
renewed bull spreading likely on cattle report
prudential corp 1986 pretax profit 1781 mln stg vs 1101 mln
it said the redemption price will be 109522 dlrs including accrued interest for each 1000 dlrs of the notes
last year bad weather added to its troubles and output fell to 72 mln tonnes from 82 mln in 1985
bread wheat nil nil nil maize 113500 21800 51300 sorghum 13600 nil 26500 soybean 30000 36000 72000 sunflowerseed nil nil 19100 cumulative figures export registrations for the 1986 87 crop to april 8 1987 with comparative figures for the 1985 86 crop up to april 9 1986 in brackets were in thousands of tonnes
the dividend of 20 cts a share an increase of five cts over the prior 15 cts a share on pre split shares is payable june 12 to holders of record may 22
currently because claims have outstripped the 400 mln dlrs in appropriated funds usda plans to offer farmers in the region 74 cents for every dollar in disaster losses
the united states responded to an apparent escalation of iranian rhetoric with continued assurances that its expanded military force in the gulf would play purely a deterrent role
shr 113 dlrs vs 87 cts net 1064489 ca 780712 assets 1068 mln vs 1025 mln note 4th qtr data not given
manufacturers inventories were up 05 pct to 27702 billion dlrs in january after falling by 03 pct in december to 27553 billion dlrs
brown said the increase also includes some mexican and venezuelan loans as those nations are also facing credit problems
this brings recent options india has given traders to some 200000 tonnes at fixed prices and makes future indian purchases very dependent on price fluctuations traders said
mai seeks 100 mln dlr multiple facility
the upgrade reflects general improvement in the companys financial condition duff and phelps said citing the partial restoration of service and rates to three mile island
japanese companies requested a ratio of 80 pct arab heavy to 20 pct arab light under a term contract agreement with aramco for 100000 barrels per day the sources said
greenwood resources grrl sells company stake
strawbridge and clothier strw 4th qtr net
genex said the venture firms will have the right to buy any unsubscribed shares of convertible preferred and may buy additional shares at the time of the rights offer
the paper would be investor driven with the bank gauging demand through the dealing panel which would also offer a liquid secondary market hand said
metromail mtml sees flat year net
cummins engine co said it told shareholders higher engine orders to the north american heavy duty truck market will result in improved earnings in the first quarter
we live in troubled and dangerous times for the world trading system he said
as announced earlier bp also is arranging a us commercial paper program in connection with the tender and part of the revolver will be used to support that program
at the borrowers request terms will not be disclosed until later this week when bankers expect the syndication to close
the company will offer 75 mln dlrs of 8 3 8 pct notes due march 1 1997 and 75 mln dlrs of 9 1 8 pct sinking fund debentures due march 1 2017 as part of an existing 200 mln dlr shelf registration
three killed in south africa zinc refinery clash
ccc sells farmers stock peanuts offers more
debt solution requires open markets german banker
dei anang said the capital increase would help the bank improve its borrowing capacity
total m1 and local m1 year on year growth was 325 and 326 pct respectively
merry land and investment mery to offer stock
the american people turned on the government with tax revolt at the state level and new demands on the government at the national level penner said
yeutter says us budget deficit reduction key to trade deficit solution
but the dollar rallied on news of mondays meeting in nervous trading to trade above 179 marks tuesday
elder beerman stores corp eldr 4th qtr feb one
belgium cuts treasury certificate rates
salomon brothers internationals cmo eurotrust subsidiary is issuing a 228 mln dlr collateralised mortgage obligation priced at par and yielding 40 basis points over the three month london interbank offered rate libor salomon said as lead manager
leigh pemberton opposes takeover protection rules
a further appreciation of the mark could even be an obstacle to further growth he said
aides said timing will depend on budget discussions
oil tankers taking oil from iraq and kuwait have been regular targets for iranian planes
both analysts said the rise in standards price this morning to above the proposed tender price of 70 dlrs a share is an indication that investors expect the bid to be sweetened
in atlantic city resorts said in a statement that the class b shares being sold to trump represents 73 pct of the combined voting power in resorts
he was referring apparently to the gulf state of qatar which industry sources said was selling less than 180000 bpd of its 285000 bpd quota because buyers were resisting official prices restored by opec last month pegged to a marker of 18 dlrs per barrel
oper shr profit 11 cts vs loss 27 cts oper net profit 662625 vs loss 774002 revs 439 mln vs 184 mln year oper shr profit 37 cts vs loss 37 cts oper net profit 1487796 vs loss 1119626 revs 1501 mln vs 517 mln note 1986 4th qtr and yr oper net excludes 6134 dlrs and 720500 dlrs or 20 cts per share respectively for realized investment gains
georgia pacific gp debt upgraded by s p
the sources warned that maybe the price of a barrel of oil will fall below 18 perhaps 1780 dlrs this week or next if there is no control on supplies
inc is a spindle maker
burlington requested the injunction to stop a takeover effort by samjens claiming the partnership used illegally obtained confidential information about the company to make its offer
union carbide corp said it filed a registration statement with the securities and exchange commission covering 250 mln dlrs of senior subordinated notes due 1994 and 250 mln dlrs of convertible subordinated debentures due 2012
the index britains measure of inflation is for february
ll and e royalty trust said its monthly dividend for january to unitholders will be 837 cts per unit payable april 15 to holders of record april six
it said in a statement that the two factors led to a squeeze on refining margins and an 1824 pct fall in sales and services income despite an unchanged level of activity
the dividend is payable april 8 record march 17 and the split would be payable may 7 record april 23
qtr ended march 14
some said they believed the tonnage would probably be smaller at around 60000 tonnes but declined to give a view on the likely restitution
the bank said nervousness in the wholesale deposit market is creating uncertainty about the immediate outlook for interest rates
clark copy said worldwide sales for datagraph which makes color graphics workstations were 10 mln dlrs for the year ended dec
the two day meeting of delegates from 50 african states was called to work out a consensus ahead of the group of 77 ministerial meeting in havana next month when the developing countries will debate their strategy in economic negotiations with the west
telefon ab l m ericsson ericst said it would sell its office machinery unit with a turnover of two billion crowns to norways norska design funktion a s ericsson information systems of which the unit is a part said in a statement a decision would be reached in november about when the norwegian firm would take over the operation
sico inc said it agreed in principle to buy the us assets of reichold chemicals incs sterling group which manufactures electrical insulation compounds and industrial resins and develops coatings for the electronics industry
the interest rate to be charged on the debt and manilas proposal to pay interest partly with investment notes instead of cash have been the main sticking points in the talks
holders of the debentures and warrants will also have piggyback registration rights
asked if chase manhattan would consider an acquisition in italy hunter said we will look at any opportunity but the prices of italian banks have been quite high chase manhattan has branches in milan and rome
trump makes bid for control of resorts rtb 
sichuan braced to fight drought
it said an earlier ballot of refinery workers showed that most favoured striking over the move but added that no final decision had been taken on strike action
the canal would probably make a five to six mln dlr loss in the current financial year but this could be carried over and met from next years revenues
he said he hoped talks under way with the paris club grouping polands main government creditors would shortly solve the problem of short term servicing
tribune co said it exchanged cash and the assets of eight of its sunbelt publishing co community publications circulated in the naples and fort myers fla area for assets of nine community papers in suburban tampa and st
shares of entertainment marketing were up 125 cents monday to 950
presidential spokesman frota netto told journalists earlier today the government was considering a suggestion by the chief of civilian staff at the presidency marco maciel that a new multi party cabinet be formed to deal with the countrys current economic difficulties
1985 uncorrected figure 573 dividend 250 guilders vs 238 corrected
pope and talbot pop sells convertible debt
grain trade representatives continued to speculate that the reagan administration will offer subsidized wheat to the soviet union while us agriculture department officials said there was no substance to the reports
investors pay the us dollar equivalent of the foreign currency denominated notes underwriters said
rod stocks held by refiners and rod mills decreased to 61384000 lbs in january from 69986000 lbs in december
celina celna shareholders approve sale
one said it purchased 150 to 200 mln dlrs in the half hour since the market re opened after its lunchtime closure
he also called again for congressional approval to explore off the continental shelf which may hold more than 12 billion barrels of oil and the arctic national wildlife refuge which may hold nine billion barrels
pete wilson told reporters the clear import of what he said is that there will be japan cant just say they will comply
leading cocoa producers discuss international pact
bruce and james o
the itc will continue to operate with a reduced staff after june 30 following the two year extension of the sixth international tin agreement
it said it had also made significant progress in repaying debts and at year end the ratio of debt to shareholders funds had fallen to 101 from 154
syndication runs until april 8
tommorrow the uk government will consider what legal action it can possible take to press for japanese reform
managers are irving trust co toyo trust and banking co ltd and standard chartered bank
valero natural gas was formed to buy valero energys natural gas pipeline and liquid assets
a 625 pct 10 year loan for the world bank originally 300 mln guilders has been raised by 150 mln guilders at an issue price of 9950 pct lead manager algemene bank nederland nv said
the october trade deficit narrowed to 3636 mln dlrs from 160 mln in september and 8379 mln in october 1985
but local companies regardless of the rating obtained for a planned bond must meet the tough financial criteria set by commissioned banks and underwriters which includes minimum net asset requirements and capitalisation local agency managers said
bank of england does not operate in money market
canon usa issues 10 mln dlr frn private placement
relevant measures are likely to be announced at the next us japan yen dollar committee meeting on the deregulation of tokyos financial market expected in may they said
argentina expects to reach agreement with its commercial bank creditors in the near future on a new financing package including 215 billion dlrs in new loans treasury secretary mario brodersohn said
weirton steel corp 3rd qtr
oper shr one ct vs three cts oper net 99000 vs 327000 revs 121 mln vs 8800000 avg shrs 155 mln vs 113 mln year oper shr six cts vs 11 cts oper net 841000 vs 956000 revs 441 mln vs 344 mln avg shrs 153 mln vs 8519677 note net excludes tax credits of 299000 dlrs vs 2900000 dlrs in quarter and 809000 dlrs vs 71000 dlrs in year
monetary sources said officials were exasperated that the markets which drove the dollar rapidly lower and severely disrupted bond and stock markets too did not take heed of the policy commitments of the group of seven the united states japan west germany france britain italy and canada
its permanent health insurance was now the market leader and its unit trust group was now the second largest in the uk eagle star general premiums rose 32 pct to 103 billion
industry sources said they expected the ministry to approve the plan because it has encouraged the japanese futures industry to expand and internationalise
japan is expected to cut the base lending rate for state financial institutions to 55 pct from 62 as part of the recent pact by major industrial nations in paris finance ministry sources said
dwi corp dwico 3rd qtr march 31 net
but german dealers noted that the bundesbank kept the 380 pct rate unchanged at which it offered liquidity to the money market this week dashing some expectations that it may either offer lower fixed rate money or offer a reduced minimum rate and let the strength of banks demands set the allocation rate
nalco chemical corp nlc 3rd qtr net
s and p noted that first amarillo has had three consecutive years of losses
national fuel gas nfg sets split higher payout
they are not going to be enough for any kind of surge in economic activity but i think they will keep us out of a recession mauro said
this should result in substantial new lending for the major debtors in 1987 he said in prepared testimony for the subcommittee on international development institutions of the us house of representatives
ambassadors to the ec from african caribbean and pacific acp states told a press conference the tax would hit the exports of 26 acp countries
allied lyons sees no change in hiram walker stake
one pct sulphur 2025 dlrs up one dlr two pct sulphur 1825 dlrs up 25 cts 22 pct sulphur 18 dlrs up 25 cts 25 pct sulphur 1775 dlrs up 30 cts and 28 pct sulphur 1750 dlrs up 50 cts
the soviet union was argentinas main customer and japan was also becoming a bigger importer of the countrys maize he said
it attributed its better than expected forecast to sales growth which it said were particularly strong overseas
under the internal revenue service code proceeds from the sale of motech must be donated to another tax exempt nonprofit organization
the new guideline will go into effect on april 6 the bank said
the financial daily quoted schlesinger as saying in an interview that the bank would try to maintain current interest rate levels for the time being
ibc president jorio dauster is meeting government ministers producers exporters and market analysts to assess brazils position in the light of the failure of talks in london earlier this month to set new international coffee organization ico export quotas
the department said advances on credit cards rose by 10 pct between the latest two three month periods
but elders oneill said the roasters are not overstocked by any means analysts said picking a bottom to the market is difficult given the fact prices have fallen into uncharted territory below the long term support at 100 dlr per lb and several traders said the sidelines might be preferable for the short term
in addition a company controlled by sugarman raised 35 mln dlrs in a debt offering underwritten by drexel burnham lambert inc with help from jefferies and used a portion of the proceeds to buy tre stock
latest nine month results include one time charge of 109 dlrs share relating to us sprint
ec external trade commissioner willy de clercq told journalists we maintain our position that the japanese concessions were not enough we hope that there will be an improvement he said
currently farmers enrolling in the program are required to set aside 20 pct of their base acreage and then are eligible for payments of two dlrs per bushel by idling an additional 15 pct of their acreage
gulf barge freight higher in nearbys on call
unless there was an early improvement in developing countries terms of trade the only choice is to follow the route that brazil appears to have taken tesfay said
the six nations agreed in paris exchange rates prevailing then were broadly consistent with underlying economic fundamentals and further substantial rate shifts could damage growth and adjustment prospects in their countries the paris statement said
tanzania will now have until april 1 1997 to pay back the credits some of which had originally fallen due in 1979 a ministry statement said
the underwriting syndicate is likely to accept the proposed terms immediately the sources said
it was just sit and wait today but i expect it will be full steam ahead on wednesday commented one sterling market source
the us agriculture department formally transmitted to congress a long awaited proposal to drastically slash the sugar loan rate and compensate growers for the cut with targeted income payments
the british aerospace pension fund holds 215 mln ordinary shares in systems representing a stake of 19 pct
natural gas output in 1986 was 343 billion cubic feet per day down from 36 billion in 1985
the internal revenue service is already studying the use of credit cards to pay income taxes but this usage would require a change in federal law while no congressional action would be needed for credit cards to be used for student loans the officials said
brito said the centre west whose crops include soya and maize had between 30 and 40 pct of the nations grains production but only 20 pct of its storage space
hurco companies inc hurc first qtr net
it said the three way merger would serve the best interests of the shareholders of all three companies employees and consumers
uae central bank cd yields unchanged
the bank of england said it had not operated in the money market during the morning session
the court was told that since 1976 the company had made an annual provision of around 750000 stg for the eventual cost of abandoning a rig
norwegian business at an early stage started restructuring its relations with south africa in anticipation of the law
1986 nine months operating net excludes prepayment penalties on early retirement of loans of 736000 dlrs
american medical international inc ami payout
we are not clear at all on his tactics
output from the naccowlah block 40 pct owned by santos provides the bulk of the throughput of both pipelines
the luxembourg based european investment bank issued a 300 mln danish crown bullet eurobond an official at lead manager den danske bank af 1871 a s told 
gelco express ltd was one of the companies scheduled for divestiture
once interest on brazils debts becomes more than 90 days overdue us and canadian banks must put the loans on non performing basis and may book payments only as and when they are received instead of accruing the interest in advance
a return to the stagflation of the late 1970s may well be the result of such a behavior pattern heller warned
may ma wont buy allieds dey brothers stores
it is due to be opened in late 1989
these changes did not always result in lower export subsidies as on several occasions currency fluctuations more than offset lower prices in the domestic currency
reuber told reporters the bank was still pondering its strategy regarding possible entry into the securities business after june 30 when banks and other financial institutions will be allowed full participation in the ontario securities industry
raimond expects ec gulf problems will be solved
us industrial capacity use rate rose to 798 pct in feb from 796 pct in jan
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
zaires structural adjustment program supported by a 67 mln dlr ida loan and a 94 mln dlr african facility loan hopes to lay the basis for sustained economic growth the bank said
pakistan cotton output reaches 77 mln bales
a us offer last fall to sell the soviets lower priced wheat through the export enhancement program eep was also rebuffed due to the price
it also cited homes plans to expand its customer base product line and pending plans to acquire baltimore federal financial fsa as factors that would increase financial risk
under the commission proposal the mechanism would initially result in a tax of 330 ecus a tonne on both imported and ec produced oils and marine fats
public service enterprise peg two months net
international minerals and chemical said annual sales of the unit are about 45 mln dlrs
the company also reported shareholders approved the authorization of 500000 shares of common stock to be set aside for an incentive stock option plan
the area sown with maize this season was between 358 and 378 mln hectares two to seven pct less than the 385 mln hectares in 1985 86
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
the london metal exchange lme has issued a note clarifying details on its new high grade aluminium contract in response to questions from members following the announcement of the contract due to start june 1
last year its members purchased about 45 billion us dlrs worth of industrial products from japan and about 18 billion from the us the spokesman said federation members were now discussing the volume of business they could transfer to america
that has not yet shown up in dollar based statistics on trade but it will he said
howard harlow analyst at whale securities corp said anacomps earnings for fiscal 1987 ending september 31 could be doubled to 80 cts a share from the 40 cts a share he had forecast before anacomp agreed to buy datagraphix a micrographics firm from general dynamics corp gd the company can earn 80 cts a share in fiscal 1987 maybe as much as a dlr a share because of datagraphix harlow said
the current peak rate is 56 pct
a farm secondary market would allow lenders to sell high quality loans on farmland to poolers who in turn would package the loans and issue farm mortgage backed securities for resale to investors called aggie mae by some proponents
around 200 billion dlrs in commercial bank debt have been rescheduled since 1983 with interest rate margins now below one pct multi year accords a norm and no financial crash in sight but a lasting solution seems no nearer
sheikh abdul aziz said our expectations of positive signs regarding oil price trends foremost among them opecs determination to shoulder its responsibilites and protect its wealth have helped us make reasonable estimates for the coming years revenue on the basis of our assigned quota
colonial said the acquisition was its first move toward acquiring and out of state bank under alabamas regional interstate banking law
italys overall balance of payments showed a deficit of 3211 billion lire in may compared with a surplus of 2040 billion in april provisional bank of italy figures show
by drawing on its parent companys strength a weaker finance subsidiary can achieve a credit rating as high as its parent
the rains also benefitted maize and sorghum crops in southern buenos aires province but are not expected to influence production forecasts
under those circumstances shore would not be surprised if some company such as unilever plc unas or procter and gamble co pg decided to take a look at gillette
animed inc said it expects to return to profitability during the current year
ceradyne inc crdn 4th qtr loss
france has expressed doubts about removing us missiles from europe so long as the soviet union maintains an edge in other weaponry particularly shorter range rockets conventional forces and chemical weapons
japan does not intend to ease credit officials
bandied about for several weeks has been the idea of offering producers soybean loans partially in cash and in certificates
the company responded that the proposal would be submitted to the board of directors but that no decisions have yet been made on a sale of the company
uk money market shortage forecast revised down
sharp increases in farm output since 1979 turned china into a net grain exporter for the first time in 1985 and again in 1986
bally also acquired from golden nugget various parcels of real estate in atlantic city it noted
quaker oats co oat regular dividend
the funds will be partly used to repay a 45 mln franc bond maturing on april 15
the annual shareholder meeting will be held in london on april 29
flowers industries inc flo hikes payout
excel industries inc exc boosts dividend
that provision was later broadened by the subcommittee to include 1988 crop winter wheat
they said the fed does not have a much of an adding need this week and may wait until tomorrow or monday before supplying reserves
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
japanese corporate earnings will rise 89 pct in fiscal 1987 88 for the first year on year increase in three years partly because of the yens stable exchange rate the nomura research institute said
artillery shells said to fall on kuwait border
in fourth quarter 1986 reversion of pension plan surplus assets completed
as the second largest us gypsum wallboard producer it generates over 80 pct of operating earnings through wallboard output
the financial results for the diversified leisure and defense aerospace company had been qualifed by arthur andersen and co since 1982
poor loan demand was illustrated by a rise in commercial bank reserves the official said
carlsson told a news conference the party decided the fight against apartheid took priority over swedens traditional policy of only adopting sanctions with the backing of the un security council
saudi arabian oil output has fallen to its lowest level in more than a year giving fresh evidence of the kingdoms determination to keep oil prices at 18 dlrs a barrel as agreed by opec last december oil industry sources said
swiss regional banks set two bonds
we are in an impossible situation
306 298 kansas city 287 317 st
gibraltar gfc to buy thrift for 12 mln dlrs
progas ltd was issued an export licence to sell 103 billion cubic meters of natural gas to ocean state power co of burrillville rhode island the federal energy department said
the bond will be issued in denominations of 1000 and 10000 marks
both companies will form a joint venture to take over the whole of cgct
it will be listed in the official bulletin balo on april 6
norway central bank sells crowns to ease pressure
in common with venezuela he expressed reservations on the conditions that might be placed as a result of washingtons proposals for increased iadb sectoral lending but welcomed a bigger role for the bank in us debt strategy
period ended february 28 shr 40 cts vs 15 cts net 1747000 vs 775000 revs 132 mln vs 133 mln avg shrs 4321376 vs 5148318 year shr 67 cts vs 67 cts net 3300000 vs 3299000 revs 495 mln vs 502 mln avg shrs 4895788 vs 4951177 note 1986 year after 819000 dlr tax provision and 660000 dlr tax credit 1985 year after 559000 dlr credit for anticipated income tax settlement for 1970 and 331000 dlr tax provision
brown took that opinion a step further
moniterm corp mtrm 4th qtr loss
spain extends reserve requirement
other proceeds will be used to pay underwriting costs the company said
a treasury department spokesman refused comment on statements by robert ortner undersecretary of economic affairs for the commerce department that the japanese yen was undervalued
a group of companies including chicago based coronet insurance co and sunstates corp a jacksonville fla real estate firm said it raised its stake in tandy brands inc to 175900 shares or 69 pct of the total
the issue of unsecured unsubordinated debt is guaranteed by france
ecuador owes private foreign banks 450 to 500 mln dlrs in interest payments for the rest of the year and 66 mln dlrs in principal payments maturing in 1987 finance officials said
bolivias return from the financial wilderness follows paz estenssoros economic stabilisation program
the us west germany france switzerland and britain have intervened on their own account to prop up the dollar he said
dutch adjusted unemployment unchanged in february
he said the present trade surplus was vital if his nation was to reduce its 445 billion dlr foreign debt
moet hennessy issuing convertible eurobond
panhandle eastern corps trunkline gas co pipeline subsidiary said it is reducing the commodity component of its wholesale natural gas rate four pct effective immediately
us exporters will be able to sell 8000 head of dairy cattle to indonesia and 5000 head to turkey under the export enhancement program the us agriculture department said
though the yield spread to the cost of carrying these maturities has been wider it is still positive he said in a weekly market review
the japanese think ec firms are now more competitive than us firms a factor which is aggravating the exchange rate imbalance and which will cause problems
good demand for colombians on bremen market
the issue is guaranteed by sumitomo bank ltd and is available in denominations of 5000 dlrs
the basic direction of interest rates is not changed
the first two banks have been liquidated which enabled partial repayment of advances and the remaining two banks were sold and the new owners repaid the advances
rospatch said it advised diagnostic retrieval that it would be contrary to the best interests of the corporation to engage in any discussions concerning a business combination with diagnostic retrieval
it did not cite a possible purchase prices
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 174 days 500 pct 500 pct 30 174 days 175 190 days 588 pct 585 pct 175 190 days 191 270 days 500 pct 500 pct 191 270 days 271 288 days 592 pct 592 pct 271 288 days 289 360 days 500 pct 500 pct 289 360 days
wells fargo has agreed to lend up to 250 mln dlrs of the line itself and form a syndicate of banks to provide the rest the partnership said
when asked how much was left of the oil platform weinberger said nothing there was no iranian reaction he said
he said talks with cable amp wireless will continue this week
turnover rose by by more than one billion dlrs to 36 billion the parent company said in a statement
ibc acquisition gets 8857807 shares in tender to buy 909 pct
with irvings price so low bank of new yorks offer will look good to irving shareholders said michael flores a consultant at bank earnings international a consulting firm
the ipswich factory will remain closed until roads are cleared and supplies of beet build up again
some 95 pct had already cleared quality specifications
conrac says it is mulling restructuring or buyout as alternatives
oper shr seven cts vs four cts oper net 159000 vs 94000 sales 4528000 vs 3683000 avg shrs 2376000 vs 2189000 year oper shr 19 cts vs 15 cts oper net 435000 vs 339000 sales 157 mln vs 144 mln note net excludes tax credits of 17000 dlrs vs 39000 dlrs in quarter and 268000 dlrs vs 294000 dlrs in year
the so called anti dumping procedure opened by the commission will allow all interested parties to state their cases to the authority
cyacq said it estimates that it needs 4075 mln dlrs to buy all cyclops shares that may be tendered and pay related fees and expenses
istanbuls ataturk international airport has been closed since yesterday
ico quotas before october unlikely delegates
exports are forecast to increase to 10 mln tonnes from 800000 tonnes exported last year the report said
he said higher rates were fuelling an influx of short term speculative capital from abroad
the company said it agreed that none of its costs for palo verde unit three will be included in its new mexico rates
in a filing with the icc late today the company outlined four conditions of its offer to acquire southern pacific
the same divergence was made in full year dividend with unilever nvs rising 34 pct to 1533 guilders and unilever plcs increasing 299 pct to 5017p approximately in line with the change in attributable profit
the bank said the 17 year loan will support policy reforms designed to help increase the efficiency of the countrys manufacturing sector develop export enterprises and encourage efficient use of resources
both government and bank of japan economists agreed the economy is better placed now to cope with the deflationary impact of plunging stock prices than it was a few months ago
timex corp sells unit
the new debt standstill will extend from july 1 1987 to june 30 1990 with a three pct down payment permitted on july 15 1987 provided such debt has already reached maturity du plessis said
he gave no further details
but they also pointed out that money supply is broadly back on target giving scope for a small fall in rates
bank of england to auction up to 325 billion stg in gilts first auction in mid may
fortune finl forfo unit makes acquisition
also the utility will pay accrued interest for the 10 pct series
abu dhabi to reopen gulf oilfield hit in 1986 raid
it has received 107 billion dlrs from the world bank in the past 20 years
mannesmann considering majority stake in fichtel
but opec is not out of the woods yet by a longshot due to seasonal declines in demand and some cheating he added
japan will continue to cooperate with other nations to stabilize dlr sumita
cominco ltd said it is forming a new publicly held company cominco resources international ltd to continue exploration and development of its mineral holdings outside canada alaska and australia
american motors march us car output down to 2578 from 5922
davy mckee ltd a subsidiary of uk engineering and contruction company davy corp plc has been awarded a contract worth around 15 mln stg for the design of a zinc and lead smelter in india a spokesman for the company said
if we become convinced that we need to make a change then appropriate adjustments will be made sindt acknowledged that concern has been voiced that usdas price differentials between the new orleans gulf and interior markets are not accurate because of higher than normal barge freight rates
xuto said the new inra retains the reference price of 20166 malaysian singapore cents per kilo and indicative prices set in the present pact
bradley is prominent among congressmen urging that provisions for debt relief be attached to tough new trade legislation now being considered on capitol hill
uk money market given late help of 240 mln stg
italian m 2 money supply rose a provisional 28 pct seasonally adjusted in the three months to end january 1987 the bank of italy said
lawson said the uk economy is fundamentally sound and added that stock markets had reflected that recently
the zero coupon portion could provide value for an account which for tax purposes wants to take a large capital loss the traders said
shr loss 11 cts vs profit six cts net loss 217200 vs profit 83200 revs 3564200 vs 3171900 avg shrs 2033750 vs 1334950
moodys noted that british petroleum would use more than two billion dlrs of excess cash and marketables and about five billion dlrs of new acquisition debt to fund the transaction
lasmo set to benefit from future oil price rises
the us agriculture department increased its estimate of 1986 87 grain purchases by the soviet union to 28 mln tonnes up two mln tonnes from last month
the mueller sale is conditioned on receipt of 80 pct of the notes
the yield for tankoku issued on a discount basis is one point below the 426 12 pct interest rates for six month certificates of deposit today
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
the united states raised its contribution to 190 mln dlrs from 86 mln and the netherlands raised its figure to 232 mln guilders from 180 mln
the bank has also agreed to publish information about the auction results as soon as possible after the sale is complete which is widely expected to be on the same day
tonka said that while the pace of order writing is trailing last years bookings are very good for orders on several of its new product introductions for 1987
the administrations plan to spin off the departments uranium enrichment operation is in line with it effort to reduce the federal governments role in areas where it feels private enterprise could be more efficient
although these had made minor contribution to profits the real benefits would come in 1988 and beyond
it was not immediately clear whether next thursdays scheduled session would still take place nor if the bank was planning to double the 50 mln dlrs which are normally on offer at each auction
but congressmen known for their allegiance to free trade said the bill ties reagans hands too much in trade disputes and they will seek to restore his negotiating powers
the less dependent non banks are on bank credits the harder it is to steer money supply
a new canadian dollar issue for hydro quebec was seeing excellent demand sector specialists said and the issue was quickly increased to a total of 150 mln dlrs from 125 mln
ecuador signs 280 mln dlr iadb loan
swedish exports to pakistan will include medical and laboratory equipment electrical telecommunication equipment diesel engine spares mining and security equipment road building and construction machinery fertilisers and palm oil
stoltenberg noted that brazil had agreed in january to work together with the banks but said this pledge had not yet been fulfilled
italian treasury bill offer has mixed response
at present pre market trading is almost exclusively dollar based but currency conversions have to be done during the sterling rings they added
the australian government has given support in principle to the production of platinum and silver bullion coins at the perth mint treasurer paul keating said
the interview airs tomorrow but cnn released extracts from his remarks today
goodyear tire and rubber co said it expects to report earnings from continuing operations of over one dlr per share on 713 mln average shares outstanding
along with western nations japan has witheld new official credits to poland since february 1982 following the 1981 declaration of martial law in poland
it said each right entitles holders to purchase a unit of 1 100 of a share of newly authorizes series a participating preferred at 75 dlrs per unit
sico sicto to buy reichold rci unit assets
proposed offerings recently filed with the sec
between 1937 and 1955 it yielded 228 tonnes of gold and 78 tonnes of silver while milling about 30000 tonnes of ore a month
they employ a total of about 1750
on feb 18 1987 allegheny said it was cancelling the spin off of service america but gave no reason for doing so
buffton said the company designs and manufactures aviation computer display systems and engine instrumentation
first boston corp and lazard freres and co co managed the deal
texas cotton crop stands little chance of damage from frigid temperatures expected tonight in that state as very little cotton has been planted according to texas agricultural sources and cotton market analysts
us imports of silver in december were 8458000 ounces vs 19950000 in november and 8840000 in december 1985
sharon steel extend exchange offers
no reason was given for the purchases
ouko said the one stop bureau was intended to stimulate investment and cut the time and bureacracy currently involved in processing applications
1985 net includes extraordinary gain of 892000 dlrs
qtly div 28 1 2 cts vs 26 cts previously pay june 15 record june one
transamerica ta unit buys reinsurance unit
the company said completion of the transaction is subject to approval by both boards and basixs banks and the expiration of the hart scott rodino waiting period
ameribanc abnk sells convertible capital notes
the partnership made its initial public offering in december 1986
shr 46 cts vs 77 cts qtly div six cts vs six cts prior net 2198469 vs 3635565 revs 231 mln vs 260 mln note 1986 net includes one time charge of 249000 dlrs or five cts a share from discontinuation of boat sentry and lakontek products
the transaction is subject to completion of a definitive agreement and to regulatory approval
with funds trading even higher at 6 1 2 pct today the fed arranged only a slightly larger 15 billion dlr round of customer repurchase agreements
no indications of interest for the assets have been received so far emery said
steel technologies inc said it signed an agreement with mitsui and co ltd mitsy and its subsidiaries to establish a joint venture corporation to be called mi tech steel inc
lyng said he had no knowledge of how much us grain moscow would buy this year
he said the commission which has powers to continue most aspects of the scheme without consulting ministers further will be considering soon whether it should be made permanent
they said west germanys objections were put in a letter this weekend from chancellor helmut kohl to jacques delors the president of the ecs executive commission which had put forward the proposals last month in a bid to avoid a new ec cash crisis
johnson says feds actions yesterday meant to stabilize dollar at current levels
bankers trust bt 3rd qtr net
consumer delegates said bra kanon had not formally presented the compromise plan to producers and consumers and it was unlikely he would do so before friday they said
previous industry pump prices for 04 gm lead were 94 cents for 97 octane and 876 cents for 92 octane
the senate will consider its version of the trade bill in may
the funds would provide additional working capital
1986 net both periods includes charge 264000 dlrs from settlement of overtime wage dispute and addition to provision for uncollectible accounts
however he said i dont believe there is anything basically wrong with this institution and i dont believe it has to have any redefinition of its purpose he said however that it was apparent that the debt initiative proposed by baker has given the bank a central role in dealing with the debt crisis
shr loss 48 cts vs loss 19 cts net loss 746000 vs loss 342000 revs 3213000 vs 2925000
the stabilisation zone is kept by the semi government livestock industry promotion corp lipc through a buffer stock operation in the wholesale market
the inter american development bank said it intended this year to match the over three billion dollars it lent to latin america in 1986 despite growing pressures on its capital
s and p said avxs purchase offer for cts corp cts has expired and the acquisition does not appear likely to occur
total value of the bill was estimated at 31 billion dlrs
invacare corp chairman president and chief executive officer a
yesterday usda issued a report showing that only slightly more than 50 pct of the 385 billion dlrs in pik certificates it has issued to farmers in lieu of cash payments had to date been exchanged for grain
sept 30 shr seven cts vs five cts net 234504 vs 157862 revs 4096000 vs 3007383
court blocks delta western airlines merger
french 1986 87 soft wheat exports fall
senior engineering makes 125 mln dlr us purchase
current law requires that the united states vote against such loans but carries no reprisals if they are ultimately approved by the banks
but he said the market rushed to sell dollars as it nervously reacted to statements abroad and to developments surrounding trade tensions
dutch paper packaging and graphical equipment group buehrmann tetterode nv bvtnas said its policy in this and coming years will be aimed at further expansion by autonomous growth and takeovers at home and abroad
he did not specify the value of the overdue payments
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
a group led by halcyon investments a new york securities and risk arbitrage partnership said it has acquired 486400 shares of atlantic research corp or 64 pct of the total outstanding common stock
venezuela gets 300 mln dlrs credit for aluminum
in addition the country has 450000 tonnes of flat storage capacity he added
he told reporters later that the sharp drop in the securities market was not due to fears of a trade war but fear of inflation and that the federal reserve may act on that fact
he said the deficit on invisible trade narrowed to 740 mln us dlrs from 197 billion
caesars in a brief statement did not say whether it would seek to buy back its shares held by sosnoff
he gave no other details
shr 38 cts vs 30 cts net 1356754 vs 1048340 assets 4485 mln vs 4074 mln
blasius industries inc blas 3rd qtr loss
avx avx files to offer convertible debentures
theres no shortage of possibilities
furthermore the committee passed an amendment offered by rep
new safrica accord with banks brought compromise
tug crews in new south wales nsw victoria and western australia yesterday lifted their ban on foreign flag ships carrying containers but nsw ports are still being disrupted by a separate dispute shipping sources said
us officials emphasize some 85 billion dlrs has been paid out in the first 14 months of the plan payments of over 70 billion dlrs of debt has been stretched out into the future and washington is embracing new and innovative ideas to keep debtor creditor negotiations afloat
the way the manager is only nibbling at the edge of the market at the moment is actually depressing sentiment and the market because everyone is holding back from both buying and selling waiting to see what the manager will do next one processor said
the legislation was passed in the wake of the may 17th iraqi missile attack on the us frigate stark in the gulf which killed 37 americans and reagans decision to protect 11 kuwaiti oil tankers by putting them under us flags effectively making them american ships
terms were not disclosed
payment date is march 23
hernandez grisanti told reporters after the cabinet meeting that pdvsa will pay 93 mln dlrs for its half ownership in the champlin refinery 33 mln dlrs in cash and 60 mln dlrs crude oil and products
maize was sown on 358 mln to 378 mln hectares two to seven pct down on last seasons 385 mln
s p downgrades michigan general mgl debt
but a spokesman for the owners townsend thoresen said it was also possible the ferry had been holed
an international monetary fund imf team is due here over the same period a world bank offical said
linde expects satisfactory results and increased sales this year but meinhardt gave no detailed forecast
colombia to sell sugar london traders say
privately held technology dynamics plans to introduce its first line of fiber optic sensors later this year corning glass said
if prices decline and yields rise it may be priced at a fraction below that one dealer said
italian wholesale prices up 11 pct in january
asarco inc said it is increasing its base spot sales price for refined lead by one half cent to 270 cents a lb fob delivered in carload lots effective immediately
the new product porcine somatotropin pst is described as a natural bio synthetic protein that improves the lean weight and rate of weight gain as well as reduces the cost of feed for market hogs the company said
the federal government also wanted to deliver an aid program outside the tax system
oper shr 30 cts vs 26 cts oper net 2360000 vs 2018000 revs 744 mln vs 701 mln nine mths oper shr 92 cts vs 92 cts oper net 7101000 vs 7116000 revs 2188 mln vs 2092 mln note earnings exclude a gain from utilization of tax loss carryforwards of 978000 dlrs or 13 cts a share vs a loss of 4967000 dlrs or 66 cts a share in the quarter and gains of 2895000 dlrs or 37 cts a share vs 4944000 dlrs or 64 cts a share in the nine months 1986 earnings exclude losses from discontinued operations of 9000000 dlrs or 119 dlrs a share in the quarter and 387000 dlrs or five cts a share in the nine months
yulo said about 130000 tonnes would be set aside for the us sugar quota 150000 tonnes for strategic reserves and 50000 tonnes would be sold on the world market
s p said that its action follows the firms sizeable 1866 mln dlr loss at year end 1986
us agriculture department proposals to offer 260000 tonnes of subsidized vegetable oil to four countries are still under consideration by an interagency trade policy group a usda official close to the group said
while they may buy more american physicians shares the koethers also said they may decide to sell some or all of the their stake in the company
the government had failed to bring inflation down despite lower oil prices and an appreciation in the currency he added
malaysia seeks 42 billion yen pipeline loan
washington national corps washington national insurance co said it bought the remaining 15 pct of united presidential corps upco outstanding shares at 19 dlrs a share cash
uk to sell off remaining 317 pct stake in bp
middle south msu to consider dividend
1985 net includes 788000 credit
s p affirms chrysler and units affects 19 billion dlrs of debt
the sources said the tariffs could be slapped on personal computers television receivers and laser printers with the aim of penalizing japans major electronic firms including nec corp hitachi ltd toshiba corp and fujitsu ltd
a drop in the dollar means uncertainty and gold is the traditional hedge against uncertainty ing noted
most dealers agree there is a good deal of hot money being invested in sterling money simply attracted by high overnight or one week rates which could flow out at equally short notice
we have a budget driven farm policy
brown boveri omits dividend plans warrant bond
southwestern bell corp said that its planned acquisitions of cellular telephone and paging systems including those of metromedia inc will result in some initial earnings dilution and an increase in debt ratio
intelligent systems inp sets initial payout
this is a dramatic shift from just a few months ago when analysts were saying the ussr might not buy any us corn for the first time in 15 years
conrac urged shareholders to take no action while its board studies the offer and confers with advisers
the dutch central bank said it allocated 4183 billion guilders at tender for the new 53 pct nine day special advances
morgan grenfell 1986 pretax profit 8219 mln stg vs 6882 mln
many other markets maintain restrictions he added
shr 24 cts vs 20 cts net 11784000 vs 8302000 rev 2691 mln vs 2119 mln six months shr 48 cts vs 40 cts net 23191000 vs 16556000 rev 5175 mln vs 4293 mln
in conjunction with the acquistion circle k also granted it the exclusive right to install video cassette rental centers in all existing 3500 circle k stores as well as in future stores for a period of seven years stars to go said
five of nine indicators were negative
banner bnr completes tender for rexnord rex 
groupe macyro inc said it agreed to buy two quebec construction wholesalers nap dumont 1982 ltd and nap transport cie ltd for 35 mln dlrs
the oecd in its semi annual review of the world economy said a failure of the reagan administration and congress quickly to agree on measures to cut the deficit could seriously affect confidence both in the united states and elsewhere it predicted that the federal deficit in fiscal 1987 running until september 30 this year would substantially overshoot both the balanced budget acts target of 144 billion dlrs and official us estimates in february of 175 billion
the bills will be issued april 9
dauphin deposit corp said it has signed a letter of intent to acquire colonial bancorp inc of new holland pa in an exchange of 36 to 44 dauphin shares for each colonial share depending on the market value of dauphin shares just before the merger takes place
it has said at the outset that it accepts the legitimacy of these debts and it is determined over time to meet its obligations fully he said
usdas action was taken to lower excessively high posted county prices for corn caused by high gulf prices
banks express grave concern on brazil debt move
bankers said there are first signs that the number of non performing loans has stopped growing as the decline in the saudi economy bottoms out
houston metals said it has a 60 pct interest in the silver queen mines
the change will also result in lower depreciation and amortization charges against income of about 52 us dlrs an ounce of gold produced in future periods based on total estimated reserves of 617000 ounces
balances in tax and loan note accounts fell to 14350 billion dlrs from 14391 billion dlrs on the same respective days
gulf shipping sources yesterday reported an iranian warship had set the cypriot supertanker pivot on fire with a missile
washington has been demanding a cut to seven pct equivalent to its own duties ministry sources said
central banks are always in contact about these fluctuations but i cannot give any answer how they would react schelsinger said
the company said that it added about four pct to production bringing it to 18 mln bpd the highest level since 1979 based largely on increased production of oil overseas but additions to its reserves from new discoveries and reserve acquisitions did not replace all of the oil and gas produced
enro shirt has annual sales of about 42 mln dlrs and foxcroft has sales of about 13 mln dlrs
an accord is in sight in brazils 20 day old national seamens strike which has seriously delayed exports a union official said
dutch retailer ahold sees unchanged 1987 profit
the subsidies are obvious attempts to circumvent the zero duty binding and that makes us farmers mad as hell adams said
a spokesman for british aerospace said it has no present or future intention of making a full bid for systems designers
oppenheimer industries inc said it expects to report a loss for the year ended january 31 of about 980000 dlrs compared with a profit of 211074 dlrs a year before
treasury assistant secretary david mulford said he did not believe that west germany and japan have yet carried out their international responsibilities
paul area
newspapers in manila and hong kong reported at the weekend that an offer had been made
dunham said the potential operable capacity of us refineries should also be cut about 500000 barrels of crude per day
lsb industries inc said it agreed to acquire northwest federal savings and loan association for 1500000 dlrs
warburg begins tender offer for symbion symb 
statistics canada reported that gross domestic product grew 31 pct in 1986 the fourth year of continuous expansion but down from 1985s four pct
noranda copper mine fire caused heavy damage
collins said that in funds which include bonds and stocks the firm has long maintained an aggressive 75 pct weighting in equity with the rest in bonds and cash
the iwc review covers support prices in the major exporting countries since 1982
xebec also said it expects revenues to total about 23 mln dlrs
disappointment of european central bankers over the appointment will be used as an opportunity to sell the dollar lower said manufacturers hanover futures vice president carol mackoff
the following rainfall was recorded in the areas over the past 24 hours parana state umuarama nil paranavai nil londrina nil maringa nil
hillards shares were last quoted at 324p compared with last nights close of 313p
usx said the increase will be on all plate products including carbon high strength low alloy strip mill and alloy plates
the countries of latin america have too much debt relative to their ability to service it said john mason of interstate securities
president kaunda had ordered the price reductions to take account of lower import costs following the revaluation of the kwacha to a fixed rate of eight per dlr from 21 on may 1
invacare also reported 1986 net income of 34 mln dlrs or 60 cts a share up from a loss of 11 mln dlrs or 19 cts a share in 1985
the council of europe is issuing a 125 mln luxembourg franc private placement bond carrying a 7 1 4 pct coupon and priced at par lead manager banque internationale a luxembourg sa bil said
finnish wholesale prices rose 02 pct in february after a rise of one pct in january and a drop of 12 pct in february 1986 the central statistical office said
the first is a floating rate bond due march 29 2002
miyazawa expects dollar rebound soon spokesman
japans unemployment rate seen rising to 35 pct
the preference of exchange rate goals above interest rate aims goes almost undisputed in the netherlands
against this a fall in the note circulation would add 345 mln stg and the net effect of exchequer transactions would be an inflow of some 545 mln stg the bank added
the department citing the household labour force survey said in a statement the number of unemployed in october december 1986 was 61500 against 60500 in the september quarter and 60500 a year earlier
oil accounts for up to two thrids of ecuadors total exoprts and for as much as 60 per cent of the governments revenues
american security corp said a release will be forthcoming shortly regarding its pending merger with maryland national corp mdnt approved by its stockholders october 10
exotic newcastle disease in md new york usda
money market sources said the market had begun to doubt that a widely expected drop in bank base lending rates to 95 pct from the present 100 pct was really on the cards
penner questioned the methods by which the 1987 budget deficit was cut
however analysts noted that the turnabout in market sentiment still looks highly vulnerable to political news
espinosa said ecuador planned to pump 35 mln barrels through the link in the next five years at a cost of 75 cents per barrel during the first year
it also counters the optimistic forecasts of last week that a post general election cut was imminent supported by such optimistic economic news as mays record reserves rise which mirrored the bank of england efforts to cap sterlings strength
reed said he was pleased with the expedited schedule because it provides time for the agency to act on the request before the expiration of the tender offer
the atpc officials said members that appeared likely to breach their quotas would be told to take remedial measures
heinls nursery has sales of about 45 mln dlrs and owns 100 acres of which 75 are in shade houses and about 58300 square feet cover greenhouses shipping and office facilities
an explosion followed by a fire ripped through a british petroleum bp oil refinery killing one man
marine midland mm buys brokerage assets
in addition its other key business general cinema beverages is expected to achieve record operating results for the full year smith said
concerning business in 1987 he said that january was a good month but the situation deteriorated in february
in order to keep the international monetary system free of disruptions central banks should not only intervene jointly but also cooperate on interest rate policies koehler said
inflation would fall to 85 pct in 1987 and 75 pct in 1988 from 89 pct in 1986 and further falls in real wages were expected anz said
national pork board allocates 24 mln dlrs
later figures were not available
ma hanna co said it has reached definitive agreement to purchase pms consolidated a privately owned manufacturer of colorants for the plastics industry
if the saudis wish to stop our trade relationship fine i am sure that if they do we will be getting dozens of offers from elsewhere santana added
the central bank issued 214 billion taiwan dlrs of certificates of deposit cd bringing the total so far this year to 8621 billion a bank official told 
usda forecasts brazil argentine soybean crops
south africas state owned energy firm soekor said it would continue tests after striking oil some 120 kms 75 miles south southwest of mossel bay
the brazilian state oil company petrobras has made a second oil discovery in the amazon region president jose sarney said
humana said it will pay 40 mln dlrs to the states department of insurance to pay prior claims and 20 mln dlrs in working capital
the bonds will be redeemable in 20 almost equal annual instalments starting june 1 1988
the extension effects its exchange offers for 30 mln dlrs principal amount of 14 1 2 pct subordinated notes due 2000 and 35 mln dlrs principal amount of 14 3 8 pct subordinated debentures due 1995
bci was set up last year by baring brothers to advise buy out and development capital investors
bankers trust bt debt downgraded by moodys
stevens said it was reasonable to suggest the pipeline could operate at full capacity when it reopens in order to make up for the shortfull but cautioned they will talk with customers to determine their requirements
mannesmanns profit fell by an undisclosed amount in 1986
the volume of exports in the first two months of the year rose slightly on a year on year basis after declining toward the end of last year
shr 44 cts vs 11 cts net 1328000 vs 344000 sales 230 mln vs 123 mln note share adjusted for three for two stock split in february 1987
investment crucial to us textile recovery
lyng said uncertainties about wheat quality in some major producing areas of the world volatile wheat prices and the still unfinished soviet grain harvest could delay any final decision on the timing of another wheat subsidy to moscow
ford motor cos stock rose 1 1 4 to 82 1 4 after analyst maryann keller of furman selz mager dietz and birney raised earnings estimates on the company traders said
details of nigerias official debts to france were not immediately available
the higher estimate is due to the ec commissions decision to hold special export tenders for french maize he said
travelers realty income triiso 3rd qtr net
lockheed corp has been awarded 1657 mln dlrs in military contracts including a 1024 mln dlr contract for eight c 130 aircraft for the air force reserve the air force said
shr 30 cts vs 17 cts shr diluted 30 cts vs 17 cts net 3454000 vs 1546000 sales 840 mln vs 592 mln avg shrs 116 mln vs 8917000 avg shrs diluted 117 mln vs 112 mln nine mths shr 91 cts vs 72 cts shr diluted 90 cts vs 65 cts net 105 mln vs 5959000 sales 2367 mln vs 1689 mln avg shrs 115 mln vs 8227000 avg shrs diluted 116 mln vs 112 mln
the need to lock in future supplies of gas for utilities and big industrial customers may also bring a resurgence of activity in the gulf of mexicos offshore waters where some of the nations largest gas reserves are located
aero services international inc said it signed an agreement with dibo attar who controls about 39 pct of its common stock under which three nominees to aeros board have been selected by attar
nakasone hard pressed to soothe us anger on trade
the partnership formed at year end by the conversion of intelligent systems corp from corporate form said its board has approved in principle quarterly dividend of 15 to 25 cts per quarter for calendar 1987
if usda decides to go ahead with a subsidy offer to the soviet union he said shultz will not wage a vigorous campaign against it
sithe energies lp said it has signed an agreement under which it will increase its interest in energy factors inc to 700 pct from 534 pct now by investing 100 mln dlrs in energy factors stock
canada leading indicator up 04 pct in january after 04 pct december rise official
the theory runs that once a debtor nation has reformed its economy it can service its debt comfortably and without an atmosphere of crisis
qtly div 12 cts vs 12 cts prior pay april 21 record april seven
denominations are 1000 and 5000 dlrs
the rate has been increased nine times since the start of the year when it was below 12 pct
but the yen should go up 10 or 15 pct in value ortner said because it is undervalued against the dollar
dataproducts corp said it received a multi year contract valued at more than 30 mln dlrs to supply band printers to siemens ag of west germany
shr 23 cts vs 18 cts net 249920 vs 194369 revs 3752641 vs 3355563 note full name is scicom data services ltd
in a speech to about 3000 mayors and local officials sarney reiterated that the government would not accept any monitoring of its economy by the imf
the consensus view was to proceed as fast as we can on a broad front and see what areas emerge where we can get early conclusion she said
the cost of transport is higher than the value of the animal he said
17 1987
we believe that champion products has just begun to evolve into the market leader it will eventually become they said
in addition chapman and troon will establish a 10 mln dlrs acquisition joint ventures it said
the soviet union would likely be more interested in purchasing new crop wheat than in booking any grain for immediate shipment if offered a subsidy on us wheat an executive with a major grain export company said
the west german federal state of schleswig holstein is issuing a 400 mln mark domestic bond carrying a coupon of six pct and priced at 10040 lead manager landesbank schleswig holstein girozentrale said
the bond for royal insurance finance nv is guaranteed by the parent
danaher corp dhr 4th qtr net
the move followed comments yesterday by central bank governor mariano rubio who said money supply growth was too fast
shr 50 cts vs 37 cts net 161 mln vs 9390000 revs 1681 mln vs 1113 mln avg shrs 125 mln vs 116 mln nine mths shr 131 dlrs vs 86 cts net 161 mln vs 9390000 revs 4458 mln vs 2446 mln avg shrs 124 mln vs 109 mln
he did not give comparative figures and said the government owned food corporation of india fci had not yet decided whether these grains could be used as cattle feed
it is because of possible optimism that the government will intervene if necessary one dealer told 
matsunaga returned on sunday to report to japanese leaders on recent us developments over trade in preparation for nakasones visit to washington april 29 to may 5
gencorp gy bid could be raised group says
brazil banks fail to make breakthrough in debt talks
however ellen haas executive director of public voice for food and health policy said bird by bird inspection should be retained and labels should be attached to each ready to cook chicken to remind consumers about preparation procedures necessary to avoid illness
he noted hungary had been given an aa rating enabling it to raise money on the japanese samurai bond market
anz securities said the program is aimed at investors in asia where there is strong potential for a big market in short term australian dlr paper
under the deal petro chemie supplies oil to ina refineries in sisak and rijeka and ships parts to 12 yugoslav firms in the petrochemical chemical textile and plastics industries
japan sets aside yen funds to prevent dlr fall
the main reason for a low western australia estimate was a poor profit outlook under cost credit and yield pressures
the gloomy profits and sales resulted from the yens recent appreciation against the dollar and a sharp drop in market prices due to severe sales competition at home and abroad
construction workers today began building a 26 km 16 mile pipeline to link ecuadors jungle oilfields to a pipeline in colombia through which ecuadorean crude could be pumped to the pacific coast ecuadorean energy minsitry officials said
mafina bond with warrants set at 250 mln sfr
citicorp cci savings extends california reach
atico financial corp said it has executed a definitive agreement to acquire 935 pct of intercontinental bank of dade county fla from intercontinental bank holding co for an undisclosed amount of cash and common stock
the trend is still 35 pct in the first half of the year in 1986 declining energy prices contributed to a 25 pct decline in the ppi
us retail sales rose sharply in february but many economists said the underlying consumer spending trend remains weak
malaysia said it expects a natural rubber shortage in april and may because of the effects of current wintering on rubber trees
the ec tariffs which would involve renouncing obligations entered into with the world trade body gatt would be designed to stop a diversion of exports to the ec market from that of the us the diplomats were meeting as tokyo announced that the ecs trade deficit with japan reached a record 213 billion dlrs in march up from 194 billion in february
usair later said it did not buy the stock
more than 3300 companies including car manufacturers electronic and electric firms were hit by labour unrest between july and september
the article followed international press speculation that the bundesbank had abandoned money supply targetting in favour of an exchange rate policy
shr 60 cts vs 54 cts net 5726000 vs 4623000 avg shrs 9538260 vs 8598198 nine mths shr 161 dlrs vs 135 dlrs net 150 mln vs 115 mln avg shrs 9277440 vs 8486590
the bond for westlbs westlb finance nv subsidiary also will have an additional co manager to the 20 already accepted into the deal westlb said
japanese net purchases of foreign bonds excluding bills dropped to 941 billion dlrs in february from 1046 billion in january the ministry said
aaas rescheduling has been followed in the last few days by a draft accord on the 13 billion riyal debt of one of the kingdoms most publicised companies saudi research and development corp redec
diplomats said it had been hoped that the summit could have injected fresh impetus into those talks
us business loans fall 618 mln dlrs in feb 25 week fed says
shr seven cts vs nine cts net 168000 vs 206000 sales 153 mln vs 109 mln nine mths shr 10 cts vs 38 cts net 228000 vs 649000 sales 358 mln vs 325 mln qtly div three cts vs three cts prior pay april 30 record april 20
theres absolutely no timetable
the report said february imports stood at 201 billion crowns while exports were 237 billion
morgan expects taiwans overall trade surplus to grow to 185 billion dlrs in 1987 from 152 billion last year and koreas to increase to 65 billion dlrs from 35 billion
india steps up countertrade deals to cut trade gap
colombia has no intention to give its coffee away he added
its round one to the americans said richard reid senior european economist for brokers ubs philips and drew in london
they are convertible into carbides common stock at 3550 dlrs per share representing a premium of 2347 pct over the stock price when terms on the debt were set
within this the public sector borrowing requirement psbr showed a repayment of 37 billion stg while the non bank private sectors holdings of government debt fell by about 11 billion stg
it was approved by the house international finance subcommittee and sent to the full house banking committee which will consider the measure next week
imperial oil said it expects to spend about 750 mln dlrs on capital and exploration expenditures in 1987 compared to 648 mln dlrs in 1986 and 116 billion dlrs in 1985
corrected datron datr agrees to buyout
resorts said the new company upon completion of the merger would hold the 220 mln dlrs of debt and that the special preferred stock would immediately be converted into exchangeable participating preferred of the new company
shr loss 105 dlrs vs profit three cts net loss 4477000 vs profit 107818 revs 109 mln vs 138 mln year shr loss 79 cts vs profit three cts net loss 3364058 vs profit 123880 revs 509 mln vs 572 mln note full name progressive savings and loan association
tektronix inc 3rd qtr shr 48 ctws vs 39 cts
last years soybean harvest totalled 71 mln tonnes according to official figures
whirlpool corp 1st qtr shr 66 cts vs 67 cts
early redemption is not permitted the bank said
new york mercantile exchange president rosemary mcfadden declined to comment on texacos futures trading saying that is is proprietary information
allied lyons plc will report substantial growth in the second half of fiscal 1987 ended march 7 chairman derrick holden brown said in answer to reporters queries
consolidated fibres inc cfibo 1st qtr net
an ec negotiator taking part in the three day talks said we wanted the territorial clause in but comecon said no a joint statement issued after the talks said progress was made towards clarifying positions but another meeting would be necessary to complete the work
the need for provisions was much lower than the year before said tony measor of hong leong securities co ltd
viceroy resource corp said recent drilling on the lesley ann deposit extended the high grade mineralization over a width of 600 feet
net earnings were 326 mln dlrs in 1985
an economist at the bank fuer gemeinwirtschaft bfg in frankfurt said a two month comparison of trade figures gave a more accurate picture of west germanys trade position
this compares with 128 mln and 868700 tonnes last season
franklin michigan insured sets lower payout
the 155 mln bag offer had been made on the assumption an agreement would bring stability to world markets he added
northern indiana public svc ni again omits div
fund managers want quality markets to park their cash in and have settled on australia britain and canada as they diversify from volatile us dollar instruments they said
the existing buffer stock of 100000 tonnes of cocoa was frozen in place with its bank balance of 250 mln dlrs both untouchable until rules are agreed
cyacq was unsuccessfully bid against dixons group plc for control of cyclops
they saw exports falling by a real 2 1 2 pct in 1987 and predicted no marked improvement in the course of the year
theres been rumors that theyve taken a position in the company said wood gundie analyst edward comeau
but theyre not out of the woods yet he added
itoh finance europe ltd is issuing a 30 mln dlr deferred coupon eurobond due march 30 1992 and priced at 1001 pct wako international europe ltd said as lead manager
petriccioli speaking to reporters after a visit to the world bank said the loan was currently 985 pct subscribed a figure treasury secretary james baker used in congressional testimony yesterday
scotts hospitality inc 3rd qtr jan 31 net
it said its dealings in certron were for investment only but said it might increase its stake
the european community commission has told ec member states that it is not prepared to discuss ec sugar prices while sugar traders threaten to make a huge sale into intervention stocks to protest against its policies commission sources said
wilson banks general manager of bond corp international ltd in hong kong told the atlas statement on the negotiations was reasonably accurate banks said bond corp was seriously considering several investments in the philippines but did not give details
ingersoll rand co ir 3rd qtr net
up to 300 people were feared dead and more than 15000 people left homeless by thursdays earthquake which will cost ecuador close to 800 mln dlrs in lost petroleum revenues authorities said
chancellor of the exchequer nigel lawson also warned yesterday of the negative effects that a trade war could have on the british economy
qtly div 54 cts vs 54 cts prior pay may one record april 10
but bank of japan officials said they saw no need to change policy for the moment although one admitted that the central bank may have to rethink its strategy if tokyo stock prices continue to plunge during the rest of the week
the publication expects total malaysian output during jan sept 1987 to decline by eight pct to 305 mln tonnes
the redeemable notes priced at 101 7 8 pct is being offered through bank of tokyo international ltd daiwa europe ltd nomura international ltd credit suisse first boston ltd morgan stanley international and 19 other institutions
texaco said its natural gas reserves totaled 816 trillion cubic feet at year end down from 887 trillion cubic feet at the end of 1985
enserch issues 100 mln dlr convertible bond
nogales said bolivia will make a single offer to buy back its commercial debt and banks who accepted would be paid the discounted rate in full
the lack of a new debate on export quotas here this week was cited as the reason for renewed weakness in coffee prices in london and new york futures traders said
shr 211 dlrs vs nine cts net 285000000 vs 10500000 revs 735 billion vs 676 billion avg shrs 134300000 vs 131600000 year shr 435 dlrs vs 173 dlrs net 582300000 vs 221200000 revs 2413 billion vs 2233 billion avg shrs 134300000 vs 131600000 note latest year earnings include a loss in each period of 164 mln dlrs or 12 cts a share for a premium paid in the early call of a 250 mln dlr 1275 pct 30 year debenture earnings include a gain from discontinued operations of 308 mln dlrs or 23 cts a share vs a loss of 2389 mln dlrs or 182 dlrs a share in the quarter and a gain of 284 mln dlrs or 21 cts a share vs a gain of 4720 mln dlrs or 364 dlrs a share for the year
there is nothing apparent from the change said william oneill director of futures research at elders futures inc
french free market cereal export bids detailed
thai rice exports rise in week ended february 24
servotronics svt sets 10 pct stock dividend
but the companies said these lawsuits have been settled in the amended offer
canamax resources inc said it agreed to acquire the 50 pct interest it does not already own in the krezmar gold property near wawa ontario by paying nine mln dlrs to algoma steel corp ltd and granting algoma a four pct net smelter return royalty which is payable after payback
regarding trade imbalances volcker said that it was critically important that markets be kept open by the industrial nations
the unadjusted rise was 131 billion stg compared with an 813 mln stg increase in january
shr primary 99ct vs 82 cxts shr diluted 93 cts vs 78 cts net 7784000 vs 6357000 assets 325 billion vs 274 billion deposits 258 billion vs 224 billion loans 220 billion vs 181 billion
kmw systems corp kmw 1st qtr net
sept 30 end shr 32 cts vs 32 cts net 2990000 vs 2988000 sales 573 mln vs 546 mln
for the moment for japanese borrowers marks are expensive he said
the purchase is part of an agreement between the two companies made in november 1981 saying that on or before each april 30 between 1983 and 1987 the companies would offer to buy one sixth of the number of life investors common stock outstanding as of dec
the earnings gain came despite a 15 mln dlr reduction of income as a result of placing brazilian loans on non accrual
one of the reasons for the steady increase in soybean production in recent years has been a general shift of acres in traditional cotton producing regions of the south to soybeans which are easier to grow one commercial trader said
shr 151 dlr vs 162 dlr net 286 mln vs 304 mln assets 238 billion vs 209 billion deposits 155 billion vs 14 billion loans 138 billion vs 12 billion
the sources said key lawmakers including reps
cumulative purchases so far this season stand at 217449 tonnes ahead of the 204256 tonnes purchased by the 24th week of last season
the union had requested a three pct wage increase in each year of a two year contract
carteret savings cbc completes sale of branches
outer continental shelf oil and gas lease sale number 97 in the beaufort sea tentatively schedualed for january 1988 has been postponed the us department of interior said
damson oil corp said that beginning today any holder of its 15 pct dual convertible mortgage bonds due 1997 has the right to convert up to one half of the principal amount into common stock during a 30 day special conversion period
morrison inc said its board adopted a shareholder rights plan designed to fend off unwanted takeovers
year to december 31 1986 net profit 78 mln nz dlrs vs 45 mln pre tax profit 147 mln vs 88 mln total assets 77 billion vs 64 billion notes the company is 100 pct owned by lloyds bank plc lloyl results include for the time first a pre tax profit of 11 mln nz dlrs from australian unit lloyds bank nza ltd
the loan will carry a margin of 20 basis points over london interbank offered rate libor amounts pre paid under the loan may at the option of the borrower be converted into a revolving credit commitment with an equivalent maturity to the original maturity on the loan
baldrige said that observers who were attributing the drop in the market to trade sanctions were barking up the wrong tree he said the market observers will realize this shortly
qtly dividend payable december seven to shareholders or record november nine
it gave no further details
an eventual oil import fee in the united states will make no difference to champlin petroleum corps joint venture agreement signed today with petroleos de venezuela pdvsa champlin chairman william adams said
nord est plans 400 mln franc bond issue
over 240 mln bushels of government grain have been allocated in redemptions for commodity certificates since the program began april 30 according to the commodity credit corporation
the seafarers international union which represents about 2300 workers on the great lakes and the ocean coasts has said it will likely go on strike this spring to protest employers demands for wage rollbacks and other concessions
economists said the united states now appeared to have agreed to play by the rules of the louvre accord and support the dollar in return for the german action on interest rates
director of the banco do brasils foreign trade department cacex roberto fendt told reporters the upturn in february confirmed a rising trend in exports which totalled 153 billion dlrs against 126 billion in january and after excluding coffee and oil derivatives was only slightly below the same month last year
venezuelas government tomorrow presents a 1988 budget proposal for 183432 billion bolivars based upon an oil price of 1635 dlrs per barrel finance minister manuel azpurua said
arco sells two agricultural research operations
the one thing that caught my eye were the relatively sizeable matched sales on wednesday said dana johnson of first national bank of chicago
the mining and smelting group earlier reported 1986 net earnings rose to 1382 mln dlrs from 878 mln in 1985 against analysts forecasts yesterday of 125 mln to27160 mln
a decline in gas drilling and the time lag to bring gulf of mexico productions onstream will tighten gas supplies and firm prices shearsons tulis said
arrivillaga said the remaining 10 mln dlrs was in the form of technical assistance available for disbursement during a 36 month period
so it would be beneficial to the continued conduct of our initiatives but the official also said the administration would resist calls for a tax increase to cut the budget deficit a target europeans say is crucial to help curb economic instability
consequently monetary growth may return to more modest levels heller said
but some other analysts were uncertain that even an emergency meeting would address the problem of opec production above the 158 mln bpd quota set last december
last year the report noted the cash flow from operations dropped to 18 billion dlrs from 35 billion dlrs in 1985 and 32 billion dlrs in 1984 due principally to lower oil prices
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
blackburn said the company would seek to generate further internal savings from rationalizing operations and personnel reductions
hovnanian enterprises hov earnings to rise
besides vaskevitch who is a british and israeli citizen who lives in london others named as defendants in the suit were david sofer an israeli citizen living in jerusalem and two corporations plenmeer ltd a british company and meda establishment a lichtenstein corporation
ongpin said steps planned to provide a sound revenue base included a value added tax vat system due to be introduced in 1988
us chipmakers urge sanctions against japan
american motors directors met for five hours wednesday to review the takeover proposal
congressional leaders complain they were not consulted about plans to put the us flag on kuwaiti ships and some charged the policy could lead the us into the iran iraq war
bids totalling 379 mln dlrs were received for the 80 mln dlrs of bills on offer
the company said the active ingredient in the spermicide is currently used in the us in antiseptic applications unrelated to condoms
united biscuits ubisl 53 weeks to january 3
we are bringing forward the respective negotiations whose conclusion we hope finalises in the next few weeks finance minister domingo cordovez said last week that quake hit ecuador sought through negotiations to postpone all payments due to the private foreign banks in 1987 until next year
periquet said the question of political stability no longer worried filipino businessmen who had already started expanding existing businesses or investing in new areas
nisshin steel co ltd said it will spend 107 billion yen in 1987 88 for rationalisation and facility improvements down from 321 billion a year earlier after completion of large construction projects in 1986 87
the project hopes to aid small scale industry by encouraging bank lending developing export markets and supporting technology transfer the bank said
however terms were not disclosed
the rate at which permits were issued for future construction rose in february by 44 pct to a seasonally adjusted 1764000 units after falling 1152 pct to 1690000 units in january
court approves ltv qltv bank credit agreement
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
soybean meal futures have also steadily declined in recent weeks setting a new contract low of 13970 dlrs per ton in the nearby march contract today
a spokesman said the disposition consists of a combination of sale lease and re franchise agreements
we must try to get them to lower the spreads machinea told 
payment date is march 17
growth in us revenues also improved the company said
the surpluses that taiwan and korea ran with the us in 1986 will get bigger
it previously paid a five cents a share dividend in recent quarters
most economists said the fed will add 15 to two billion dlrs of temporary reserves via customer repurchase agreements but some said there is a slim chance the fed will inject permanent reserves via three day system repurchase agreements
relevant measures are likely to be announced at the next us japan yen dollar committee meeting on the deregulation of tokyos financial market expected in may they said
india tendered for one or two cargoes of white sugar
diaz said the pcgg did not plan to remove smc president andres soriano from his family company
since paris there are signs west german growth is slowing while us officials said they were giving japan until april to show that an economic stimulus package was in the offing
geonex said southern bell will let cas continue work in progress and it expects to perform mechanized posting and records conversion for southern bell through 1989
congress should give the us agriculture secretary the authority to keep the 1987 soybean loan rate at the current effective rate of 456 dlrs per bushel in order to help resolve the problem of soybean export competitiveness usda undersecretary dan amstutz said
total fees of 2 1 4 pct comprise 1 1 2 pct for selling and 3 4 pct for management and underwriting
israeli inflation rate is 10 pct in february
danzar investment group inc said it received 60 mln shares of commonwealth capital ltd in settlement of a debt and that it will distribute the shares to its stockholders as a dividend
usda comments on export sales report 
ec opens special rebate for maize paris trade
he told a meeting of securities analysts that although the company is not yet at point in its cost cutting drive to improve profit margins it is on the right track olson said atts cash flow was very strong in the first two months of the year better than budgeted while olson does not know if the companys earnings and revenues will improve by yearend he said att is moving in the proper direction for 1986 atts earnings dropped to 139 mln dlrs or five cts a share on revenues of 341 billion dlrs from 156 billion dlrs or 137 dlrs a share on revenues of 344 billion dlrs in 1985
a specially convened franco german meeting in the sidelines of a summit of ec leaders failed to make any progress over a 1987 88 farm price package that has deeply split the two former ec allies diplomats said the meeting was attended by farm ministers and foreign ministers from both countries and by french president francois mitterand his prime minister jacques chirac and by chancellor helmut kohl of west germany
the government also announced an end to the floating exchange rate for the zaire currency and a return to a fixed parity against special drawing rights sdrs with periodic adjustments
the adjustment to second quarter income for earnings per share was 1175000 dlrs
us soviet grain accord questioned by lyng
the pipeline that carries all ecuadors oil exports was ruptured in the march 5 tremor and will take about five months to repair at a cost of some 150 mln dlrs
regency cruises inc said its earnings per share for the year 1986 were 36 cts per share not the 37 cts it reported on march 11
agriculture secretary carlos dominguez said he hoped the losses would be offset by the expected increase in output in other normally more productive areas not affected by the dry spell
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
halmi said it reported earnings of 2800000 dlrs in fiscal year 1986 ended may 1986 on sales of 172 mln dlrs
we made it very clear to our creditors that we must find other means to pay our debt
the company said to date it has received proceeds of about 90 mln dlrs from divestitures and has used the funds to reduce debt incurred in the repurchase of its common shares
sandoz has 50 mln dlr euro cp program
the company cited the recent in house embezzlement and a subsequent review by auditors of its international situation as reason for the delay
m
gatt council defers decision on semiconductors
shr 28 cts vs 46 cts net 1634000 vs 2007000 avg shrs 5850000 vs 4400000 nine mths shr 82 cts vs 177 dlrs net 4788000 vs 7792000 avg shrs 5850000 vs 4400000 loans 5869 mln vs 4815 mln deposits 6974 mln vs 6062 mln assets 7972 mln vs 6834 mln note full name sun state savings and loan association
we want to send a message to japan to let it know how the senate feels about this matter senate democratic leader robert byrd told the senate
another idea is to include debt under gatt negotiations but cartegena ministers have yet to endorse any proposals
bsn corp said it purchased macgregor sporting goods common stock in recent open market transactions
it also said that it was envisaged that monthly releases would be at least 100000 tonnes depending on the state of the market
talyzin said the ruling politburo had concluded at a recent meeting that an improvement in economic performance depended to a large extent on conserving resources better
but the speculation faded in early february and interest rates climbed as the government remained adamant in maintaining the peg thus triggering an adjustment on the fixed rate capital market
but interest rates are still much higher than in our competitor countries and british manufacturers will still have to work hard to win new business both in overseas markets and in the substitution of british made goods for imports here at home he said
said wall street eanrings estimates of 110 115 dlrs a share for fiscal 1987 are expected to cause even the aggressive side of this range to be 10 to 15 cts low lyons said the strong performance in the second half of this year will result from the fourth quarter introduction of 90 mg and 120 mg cardizem tablets
the measure of private sector liquidity psl2 fell 02 pct in january but after seasonal adjustment rose 06 pct the bank said
the organisations latest half yearly report says gross domestic product will grow by 25 pct this year and by 275 pct in 1988 compared with only 14 pct in 1986
because the bill would move 28 billion dlrs of spending into fiscal 1987 from fiscal 1988 the measure is expected to meet stiff resistance in the full house
she said the surplus of 597 mln pesos compared with a deficit of 390 mln pesos a month earlier and a deficit of 164 billion at the end of 1985 reflected political uncertainty in the last quarter of 1986
kansallis osake pankki launches 100 mln dlr bonds
merrill mer sells new zealand dlr notes
last years gnp growth put earlier at 013 pct was revised to 151 pct
the bond is guaranteed by the parent
vieille montagne which is actively pursuing a restructuring program reported a 198 mln franc net loss after 187 mln francs in provisions for the closure of an electrolysis plant compared with a 250 mln franc net profit in 1985
analysts said that the drop in bank stock prices is likely to depress the level of mergers and acquisition in the banking industry
it said after the acquisition it will infuse perconal computer with cash for expansion
clevite industries inc clev 4th qtr oper loss
the uae together with the much smaller producer ecuador was also producing above quota in the first days of march the survey reveals
production estimates for the thai crop now exceed 23 mln tonnes and the final outturn appears set to reach around 25 mln tonnes
the locals part of united steelworkers of america represent 2600 production and maintenance workers
payment will be in cash on completion except for three mln stg payable on december 1 1988
one dealer estimated that the bank bought 400 mln to 500 mln dlrs as it tried to keep the us currency above 149 yen
ctc dealer to appeal canadian tire decision
detroit edison co said it has nearly completed the 50 pct power level testing of its fermi 2 nuclear power plant near monroe mich
contl illinois cil says moratorium may cut net
the government forecasts annual inflation of about eight pct this year
northern air freight nafi gets rejects bid
jwt group jwt grants golden parachutes
cominco clt sells stake in canada metal
european buyers delayed their purchases because of winter closures of factories and also in the hope that prices would ease further
usair stock was trading at 44 3 8 off 3 4 on volume of 44 mln shares
global trading in yen bond futures expected soon
barco brc board approves leveraged buyout
northwest teleproductions nwtlo 4th qtr net
the bond will be available in denominations of 1000 stg and will be listed in luxembourg
mr
hutton said the company has valued the warrants at two to three dlrs per share
aggregate exposure to argentina brazil mexico and venezuela was almost four billion dlrs at year end 1986 or 105 pct of equity and reserves s and p pointed out
he declined to say what action the us would take next april if japan continues to resist us demands
sanwa plans to increase its stake in bpi to four pct the ceiling for foreign shareholders the official said
the associations said the move is subject to approval by the federal home loan bank board and the wisconsin commissioner of savings and loan as well as republics shareholders and pioneers depositors
a six pct stake was donated to the astra corporation workers trust by the government and the dutch company
the issue is available in denominations of 5000 dlrs
but government spokesman yannis roubatis did not confirm the move saying only the greek fleet is not at its naval base papandreou said that a map issued in turkey showed 95 pct of the areas proposed for research were on the greek continental shelf
all sales must be registered and exports completed by sept 30 1987 it noted
lb nelson corp 4th qtr net
in paris britain canada france japan the us and west germany agreed to coooperate to hold currency rates around their then current levels
bangladesh to import 60000 tons of diesel from ussr
canada britain france japan the us and west germany agreed to cooperate in stabilising exchange rates around current levels
tom harkin d iowa offered the proposal as an amendment to a farm spending reduction package
indonesia is expanding palm oil output and saleh did not explain why there might be a shortage during ramadan
a 175 mln dlr issue of bonds due 1997 was given an 8 3 4 pct coupon and priced at 99375 to yield 8845 pct or 128 basis points over comparable treasury securities
dividend six marks vs same
economists see sluggish japanese economy ahead
the department noted the latest figures were similar to the average in the fourth quarter last year but well above the january index which was depressed by the effects of severe weather
boone pickens may be targeting the company for an acquisition traders and analysts said
as oil cargoes are often resold after loading critics said the door will be left open for continued shipments to south africa
brierley investments ltd bil said its offer of 420 nz dlrs per share for supermarket group progressive enterprises ltd still stands although rainbow corp ltd said today it has 52 pct of progressive
the payment date is march 25 and there will be a short first coupon period
net charge offs totaled 419 mln vs 422 mln while provisions for loan losses was 566 mln vs 522 mln
mcclain industries mccl sets stock split
if rates dont come down the market will say they ought to have come down and will sell sterling he said
the company named drexel burnham lambert inc as sole underwriter of the offering
however soviet purchases from the united states have tended to displace additional argentine purchases the report said
shr profit 47 cts vs loss 38 cts net profit 4767000 vs loss 2623000 revs 237 mln vs 3629000 avg shrs 11242166 vs 6895290 nine mths shr profit 89 cts vs loss 49 cts net profit 7726000 vs loss 3350000 revs 388 mln vs 7172000 avg shrs 9410497 vs 6895290
dealers said securities houses and trust banks on the other hand have aggressively sold the dollar
treasury bills will remain a basic monetary tool he said
january output was 198 pct down on january 1986
vulcan corp said it was discontinuing its efforts to negotiate a purchase of the common stock of jones and vining inc
new zealands official foreign reserves fell slightly to 713 billion nz dlrs in february from 715 billion in january but were sharply above 285 billion in february 1986 the reserve bank said in its weekly statistical release
acton said proceeds will be used to retire bank debt
baker later said his remark had been misinterpreted
the buffer stock manager is obviously looking at the implications of delaying until forward prices lift the indicator since it might mean he has to buy less cocoa an analyst from a leading cocoa trade house said
ny grain freights april 1 tradax took ys tonnage 52000 tonnes us gulf to japan early may dates 1600 dlrs 11 days all purposes tradax took dimitrios 76000 tonnes any grains 4952000 grain cubics us gulf to holland may 1 10 850 dlrs 12 days all purposes adm took ymuiden maru 93500 tonnes dwcc 4726937 grain cubics us gulf to holland april 20 30 lumpsum 675000 dlrs 11 days all purposes dreyfus took golden crown 20000 tonnes us gulf to east coast mexico april 6 10 1000 dlrs 1500 discharge marubeni took nyk tbns 52000 tonnes hss seven times us gulf to japan july 1987 january 1988 dates 1425 dlrs 9000 load 6500 discharge
this is the first time a japanese bank has bought a stake in a portuguese bank
johnson electronics inc jhsn 4th qtr loss
the four year arrangement has an additional four year term loan amortization agreement quaker said
the deal is worth 630 mln dlrs
international research irdv 1st qtr net
they said the south african finance ministry is expected to make a statement on the agreement later today
a and p gave no details on the expanded capital program but it did say it completed the first year of the program during 1986
the company said extensive testing indicates a problem found in the furnaces is not safety related
international thomson to report in us funds
the british petroleum co plc bpl said it had no plans to close its refinery in gothenburg despite forecasts by a swedish finance ministry committee that it might be planning such a move
the ministry said gross purchases of foreign bonds were 11553 billion dlrs in february down from 11804 billion in january while foreign bond sales fell to 10612 billion from 10758 billion
the us agriculture department detailed world supply demand data for major importers and exporters of soybeans by country as follows in mln tonnes brazil soybeans 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 419 401 471 471 production 1700 1700 1390 1370 imports 035 035 209 029 domestic use 1454 1454 1351 1349 exports 250 250 120 120 end stocks 450 432 419 401 argentina soybeans in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 183 183 180 180 production 770 770 730 730 imports nil nil nil nil domestic use 497 497 474 474 exports 265 265 254 254 end stocks 191 191 183 183 ec 12 soybeans in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stocks 051 052 066 066 production 083 083 033 033 imports 1289 1285 1299 1296 domestic use 1372 1368 1334 1330 exports 011 011 013 013 end stocks 040 041 051 052 japan soybeans in mln tonnes 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 start stcks 076 076 079 079 production 025 025 023 023 imports 484 484 480 480 domes use 510 510 506 506 exports nil nil nil nil end stocks 075 075 076 076
the company said that the contingency has been fulfilled
the ouptut gdp measure rose 28 pct year on year down from 38 pct in 1985
mondays report that the usda inspected 46 mln bushels of corn for export last week was unexpectedly high and coupled with a lack of farm sales provided support for the corn market traders said
but sterling futures may still make another run for new highs up to 16300 to 16500 dlr in the june contract on the positive atmosphere that will prevail before british elections and possibly another interest rate cut horner said
falcon said it expects to pay cash distributions to limited partners at an annual rate of 215 dlrs per unit through december 31 1989
funaro rejects suggestion of imf brazil plan
he also cited the recent declines in the dollars value
executive house inc year loss
capitol bancorp said it expects to restate its results for 1986 to a loss of about one mln dlrs due to a reclassification of loans recommended by auditor ernst and whinney
bentsen urged mulroney to withdraw a proposal that would ban imports of independently produced films into canada by non canadians which the senator called a protectionist measure
the department previously said the index fell 10 pct in january
he supported that by saying the narrow m0 money supply aggregate was safely inside its flucuation band of two to six pct set for both 1986 87 and 1987 88
shipments in tonnes with comparative figures for december 1985 in brackets included beef 14384 10339 horse meat 1609 1539 and beef offal 3388 3098 the board said
morgan grenfell has used special purpose vehicles in the past to help refinance export credits for other indebted countries such as brazil and ecuador
the company said kaltenbacher owns 30 pct of seton stock and other management members another 75 pct
last week nec corp said it would cut production in line with mitis request
sonex said its engine is not equipped with a catalytic converter and does not use exhaust gas recirculation or an emission air pump
it said output of gas and electricity was very high but activity slowed on construction sites in quarries and in certain base industries
santos ltd stoss said it would buy total exploration australia pty ltd from total holdings australia pty ltd a wholly owned subsidiary of total cie francaise des petroles lttpnpa total exploration had interests ranging from 1875 to 25 pct in four blocks in permit atp259p in south west queensland santos said in a statement
south africas new foreign debt agreement sparked a rally in local financial markets but bankers and economists said the pact only removes one source of anxiety from a still depressed economy
it said the sale did not include us properties acquired from berkeley exploration and production plc last december
the trip is set for april 6 8 the state department said
initials said it expects to turn profitable some time in 1988 and sees sales of 100 mln dlrs annually by the end of 1989
the surprise 22 billion dlr tender offer for ohio based conglomerate gencorp inc will not be enough to buy the company analysts said
consideration of the buffer stock rules is the most controversial topic on the agenda delegates said
the agency said in its annual statement that it had assets with a total book value of 25 billion dlrs or a market value of 28 billion dlrs at the end of 1986
federated department stores inc fds 4th qtr
gould incs systems protection division said it selected merrill lynch interfunding inc to provide financing for the purchase of the division from the parent company
there is one country which evidently still does not rosenbaum said in an obvious reference to brazil which has been negative recently on a reintroduction of quotas
it said the country is seeking soymeal with 48 pct protein minimum 12 pct moisture maximum and 35 pct maximum crude fiber for delivery from november 15 30
they said however the mediterranean butane market was very thin making it subject to wide price swings
they did not say where cuts might be made
as a result the groups shares rose strongly peaking at 865p from last nights 842p before easing to 860p at 1155 gmt
under a verbal understanding between the two ministers argentina will soon abolish export taxes on soybeans and products us and argentine officials said
all trades will be reflected daily in changes in these accounts hu said
the remaining 200 billion yen will yield 36503 pct in 50 day repurchase agreements maturing on august 19
terms of the agreement were not disclosed
asked if major nations were now negotiating on what measures to take miyazawa said they were not as measures had already been agreed in paris
the united states asked for consultations with tokyo on the issue
terms of the acquisition were not disclosed
campeau separately announced that as required by a bank agreement it has contributed an additional 50 mln dlrs of capital to allied
shr profit 10 cts vs loss two cts net profit 140332 vs loss 21290 revs 4202305 vs 1692976 avg shrs 1400945 vs 1106500
baybanks inc bbnk raises qtly dividend
we know that we have to reestablish growth at three pct a year to solve the enormous problems confronting us and i am referring mainly to unemployment perigot added
he said the government and imf this week agreed on a package to reduce the balance of payments deficit improve management of public enterprises reform tariffs develop non traditional exports and privatise public firms
the surprise escalation of attacks on oil installations broke more than a month long lull in iraqi air force action
ford motor cor said that profit sharing checks were distributed to employees in its us facilities
group sells most of stake in ccx inc ccx 
the two allied units operate and are developing cogeneration projects and small petroleum coke fueled power plants
the news did come as a very very substantial relief he said
this package has been harder than all the others i hope we find a way thats not so debilitating for the people who have to put them together gurria said
i have too much work to accomplish here in brazil at the moment
he said competition among supermarkets is getting heated in that area and that the company has had difficulty with integrating purity supreme with its pathmark store operations
but mehdi varzi chief oil analyst with londons kleinwort grieveson securities doubts nigeria will actively push the differentials question in vienna
the tender offer will be conditioned on a minimum of two thirds of the common stock being tendered and not withdrawn to the expiration of the offer as well as certain other conditions
the apt set up in january is headed by banker and businessman david sycip
information solutions inc isol 1st qtr jan 31
the plant can slaughter and process about 13000 to 14000 hogs a day he estimated
us officials said president reagan would probably act on the recommendations in a day or so after consulting with aides on the foreign policy implications of retaliation
c fred bergsten a former senior treasury department official and robert solomon of the brookings institution told the senate foreign relations committee the major exporting countries risk recession if they do not expand because us demand for imports is expected to fall
algeria has moved at least two cargoes of propane to the us gulf keeping mediterranean prices steady traders said
thai m 1 money supply rises in january
the bundesbank declined to comment on rumours in tokyo that it was intervening heavily to support the dollar but dealers here said they had not seen the german central bank in the market all morning
this is when traditionally there is more demand for gasoline rich crudes such as nigerias
mulligan said he believes the dissolution if it is approved is a result of change in the futures industry rather than a change in us agricultural economics
the yen rose 26 pct to an average of 159 yen to the dollar reducing the companys total sales in the three month period by 40 billion yen hashimoto said
the company said for each comdata share it would exchange half a first data share and enough cash to bring the total value up to 18 dlrs per share provided that the market price of first financial stock were not less than 28 dlrs per share
accordingly 250 mln dlr obligation to banks under credit agreement was recorded as a long term liability as of end of 1st qtr
ccc credit guarantees to el salvador reallocated
interest will be linked to money and capital market rates and paid on a discount basis with certificates sold below par and maturing at par a bank statement said
bp said further details would be released on july 21
jordan expects real gnp growth to be about one percentage point higher than in the past two years
usair spokesman david shipley also declined comment on piedmont aviation inc pie usair has offered 71 dlrs cash per share for half of piedmonts stock and 73 dlrs in its own stock for the balance
the sassan and rostam fields have been targets for iraqi air strikes in the past but baghdad had not reported any southern gulf missions prior to news of the latest attack
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
no brazil solution without imf german banker says
i think its about time senate democratic leader robert byrd of west virginia told reporters
the commission is expected to approve the application at a meeting tomorrow
the deal is subject to approval by allis chalmers annual meeting company officials said
asahan reported total losses of 976 billion rupiah between 1982 and 1985
it is not a question of monetary conditions if domestic demand does not grow strongly he said noting that interest rates are at historically low levels and funds are ample
the central bank started to intervene shortly after the market opened here in the afternoon the dealers said
as of the present time the average interest rate on the financing which we proposed to raise in connection with the acquisition has increased since the original proposal by approximately 150 basis points he said the group intends to promptly review all available options including the revision of its offer to reflect current market conditions
many bankers have been angered by the resistance of the regional us banks noting that even if they dont contribute to the new loan they still will be receiving interest on the existing loans
these costs have arisen as a results of a change of direction for the group
the three 200 mln crown tranches are tranche a due may 16 1989 priced at 82 1 8 tranche b due may 15 1990 priced at 73 7 8 and tranche c due may 15 1991 priced 66 1 2
hei corp heico 4th qtr march 31 loss
taiwanese manufacturers can create jobs for americans and avoid import quotas if they set up plants in the us he added
feds heller urges japanese to buy us goods
shr after preferred divs
oper shr 154 dlrs vs 82 cts oper net 337 mln vs 1766 mln revs 4731 mln vs 4190 mln nine mths oper shr 460 dlrs vs 239 dlrs oper net 1004 mln vs 510 mln revs 138 billion vs 121 billion assets 185 billion vs 155 billion deposits 1300 billion vs 1129 billion loans 1504 billion vs 1256 billion note oper net excludes extraordinary loss 6636000 and 119 mln for 1987 qtr and nine mths on prepayment of borrowings from the federal home loan bank board
in a filing with the securities and exchange commission parsow said it sold 42800 erc common shares between jan 9 and march 2 at prices ranging from 12125 to 1450 dlrs each
underwriting fee is 1 8 pct
quoting customs figures the paper said exports fell to 175 billion dlrs from 184 billion and imports fell to 206 billion from 23 billion
great atlantic and pacific tea co 4th qtr oper shr 55 cts vs 36 cts
shr 33 cts vs 46 cts net 1350000 vs 1886000 revs 1501 mln vs 1279 mln year shr 176 dlr vs 159 dlr net 7300000 vs 6567000 revs 548 mln vs 5105 mln note first three quarters of 1986 have been restated to reflect adoption in 4th qtr of new pension accounting procedure which increased net income in first three qtrs 204000 dlrs or five cts per share
under current law there is no limit on open market purchases
last weeks dollar fall was partly triggered by expectations that the germans were more worried about the money supply impact of such intervention than maintaining currency stability
cattle slaughter is guesstimated at about 124000 to 128000 head versus 127000 week ago and 126000 a year ago
yeutter says stock market overreacted to japan trade dispute
insurance firm as piezo pepio preferred stake
kerin was referring to the governments underwriting of the guaranteed minimum price paid to wheatgrowers by the australian wheat board near the start of the season
bank of france buys dollars at paris fixing dealers
us sept housing starts rose 44 pct to 1669 mln permits fell 06 pct to 1493 mln
the debentures were issued in june 1984 in connection with metromedias leveraged buyout
the sugar for april may and april june shipment was sold at between 214 and 218 dlrs a tonne cif it said
soviet data show the machine building industry which makes machine tools instruments and other engineering goods increased output by 33 pct in the first nine months of this year against the same period of 1986
japanese trading companies are looking to alternative sources to supply south koreas needs including saudi arabia qatar and mexico they said
britain backs us strike on iran oil platform
qtr ends feb 28 shr 18 cts vs 10 cts net 2051000 vs 901000 revs 258 mln vs 192 mln avg shrs 107 mln vs 9059600 12 mths shr 87 cts vs 63 cts net 9020000 vs 5680000 revs 944 mln vs 737 mln avg shrs 103 mln vs 9059600
photo moto recored a net loss for the first quarter 1986 ending march 31 of 328889 dlrs
britains visible trade deficit narrowed to a seasonally adjusted provisional 224 mln stg in february from 527 mln in january the trade and industry department said
the outlook for the dollar is still up in the air he said
within manufacturing output of the metals industry rose by six pct and that of engineering and allied industries by one pct between the two latest three month periods
higher world oil prices coupled with a new realism ushered in by austerity could lift saudi arabias economy after five years of falling revenue and growing budget deficits bankers and diplomats said
the mexicans basically said were not going to subsidize foreigners until we have a deal one banker said
american motors corp amo management has ordered a hiring freeze in view of chrysler corps c 15 billion dlr takeover bid a spokesman for amc said
sterling software ssw note holders ok buy
the spokesman also said he believed that the intermediary had been apprehended by police
glenn said a multinational force could be effectively deployed within 24 hours of a decision
among industrials s and p cut 43 ratings and raised 10
southeast china crops saved by heavy rain
the state owned krung thai bank ltd will start taking over state owned sayam bank ltd and complete the process in a year finance minister suthee singhasaneh told a press conference
some consuming member nations including britain and belgium favour the buffer stock buying more than 10 pct non member cocoa delegates have said
one trader most stocks in the group bounced off their lows by midday as investors took the news in stride
upside potential for prices is limited by the huge supply overhang while strong underlying support is provided by the us loan rate the problem is likely to become worse as the artificially high prices encourage producers in south america canada and australia to shift from grains to oilseeds balletto said
moodys investors service inc said that it downgraded gelco corps variable rate notes and convertible debentures to ba 3 from ba 2
he said interest rates are not coming down and i would not bet a lot that they will come down sharply chryslers 35 billion pension fund last week sold 405 mln dlrs of corporate bonds in the first of two planned sales of slightly less than one billion dlrs of corporates
eastek corp estko 1st qtr sept 30 loss
the world bank today approved a 40 million mln dlr loan to assist an economic reform program under way in haiti
fed expected to take no money market action
japanese officials have said they have lived up to the pact and have asked japanese chip makers to further slash output to save the pact
tcf banking and savings hikes prime rate
shr 86 cts vs 62 cts shr diluted 86 cts vs 59 cts net 280 mln vs 183 mln revs 5135 mln vs 5170 mln first half shr 203 dlrs vs 178 dlrs shr diluted 203 dlrs vs 161 dlrs net 659 mln vs 500 mln revs 111 billion vs 108 billion avg shrs 324 mln vs 281 mln avg shrs diluted 324 mln vs 324 mln note 1987 net includes gains of 645000 dlrs or two cts a share in quarter and 12290000 dlrs or four cts a share from reduced pension expense under new accounting procedures net in both 1987 periods also includes gain of 40 mln dlrs or 12 cts a share from sale of land in alabama
inflation in the european community which fell to its lowest since the 1960s between november and january started to take off again last month figures from the ec statistics office eurostat showed
florida oranges excluding temples 122900000 boxes vs 124000000 last month and 119000000 boxes in 1985 86
in its latest review of the foreign exchange market through the end of january the federal reserve revealed that it intervened to protect the dollar against the yen on january 28
the spokesman said the company exports its products to japan southeast asia hong kong the us the middle east and africa
machinea said brasil did not suspend payments because it wanted to but because it lacked reserves
the semi annual council meeting is scheduled to run until march 27
this overall increase would also be due partly to an increase of nominal share capital by 100 mln marks to 350 mln marks
the rating agency said its action mainly reflected debt redemptions
shr 313 dlrs vs 202 dlrs net 391 mln vs 269 mln revs 2032 mln vs 1738 mln
prior year excludes discontinued operations loss of 14 cts per share in the quarter and loss 18 cts a share in the year
co operative cobko completes acquisition
drexel burnham lambert inc will underwrite the sale
shr loss nine cts vs profit 11 cts net loss 1102592 vs profit 1364763 revs 2836508 vs 5547121 year shr loss six cts vs profit 32 cts net loss 789300 vs profit 3953822 revs 117 mln vs 211 mln note per share figures reflect five pct stock dividend paid december 1986
analyst robert gordon of shearson lehman brothers inc said manufacturers hanover corp mhc has the greatest exposure to brazilian loans of any new york bank in terms of percentage of earnings
the islamic development bank idb and 20 islamic banks signed an agreement to establish a 50 mln dlr trade portfolio to finance trade among islamic countries idb sources said
first commercial paper issued in turkey
ccc credits for mexico switched to wheat usda
there has been a flood of large bond issues but with formulas well adapted to market conditions and investor demand with warrants or a mix of fixed and floating rates which have been snapped up and with generally broadly negative fees
rjr nabisco inc filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be set at the time of sale
fed allows citicorp cci sears s thrift deal
shr 21 cts vs eight cts net 15 mln vs 536000 revs 266 mln vs 177 mln nine months shr 111 dlrs vs 43 cts net 78 mln vs 30 mln revs 869 mln vs 829 mln noteshares adjusted for 2 for 1 stock split payable may 28 1987 to holders of record may 14 1987
goldman sachs co managed the deal which was increased from an initial offering of 100 mln dlrs because of investor demand
the increase brings the contract barge price to 5050 cts a gallon sun said
shultz was said to be adamantly against the us wheat offer last year and has been reported to be one of the major obstacles in making another subsidy overture to the soviet union grain industry sources said
he said part of this would be the normal loss inevitable in harvesting but that most of it would stem from storage problems
the unit will be an indirect wholly owned subsidiary called diamond crystal specialty foods inc
spectra physics also said it filed suit against ciba geigy yesterday in us district court in wilmington del charging it with making a takeover bid that was false and misleading in violation of securities law and with violating the intent of july 9 1985 standstill agreement
the disclosure of the citicorp units interest in cyclops industrial group came in disclosure documents filed by dixons group with the securities and exchange commission
lieutenant general vernon walters sent letters about the incident to security council president maurizio bucci the delegate of italy and secretary general javier perez de cuellar
greyhound corp said it completed the sale of its greyhound lines unit to dallas based gli holdings inc for 350 mln dlrs in cash securities royalties and other considerations
an allegis spokesman said the offerings have been in planning stages for a long time and are unrelated to recent corporate developments such as the firms recapitalization plan and a threatened takeover by an investor group lead by coniston partners and the pilots of its united airlines unit
unibancorp inc ubcp regular dividend set
success depended on the setting of right policies including tighter fiscal policy a reduction in the public sector borrowing requirement and on private sector behaviour
they said that the export of cut price japanese chips through unregulated distributors has all but dried up after miti instructed domestic makers to cut output
a us navy battle group led by the aircraft carrier kitty hawk is currently in the northern arabian sea
paperboard plans bid to acquire belkin
usair had said earlier today that it asked the dot to dismiss the twa control application on grounds the twa filing did not meet dot requirements
lacy said exco had been considering buying a us government securities broker for the past four years and had made an offer for rmj when it was sold by security pacific corp spcn in 1985
this means bundling different mortgages together to resemble a bond and selling them to an investor
this was considerably above market expectations for a 650 mln dlr rise
hugh liedtke told a meeting of analysts that the company expects its first quarter net to be down considerably before an unusual item from the loss of 49 cts a share reported a year ago
out of this traders in the uk received 37800 tonnes in france 34500 in west germany 20000 in belgium 18500 in spain 5800 and in denmark 1750 tonnes it added
year includes 1985 extraordinary gain from tax carry forward of 132000 dlrs or five cts per shr
the other lead managers are state bank of india and grindlays bank plc
moodys investors service inc rates the issue a 2 compared to a aa minus rating by standard and poors corp
the deal has two sponsors who assist in the placement interallianz bank zurich ag and nivison cantrade ltd a small uk trading firm that formerly was broker r
this means the jobless rate has stayed at 67 pct for three consecutive months the lowest reading since march 1980 the commerce department noted
goodyear said the price it will receive is after adjustments for such items as pension and benefits provision allocation of liabilities and asset valuations
miyazawa says time has come for major nations to act on exchange rates
the bond equivalent yield on three month bills was 590 pct
but their unwinding on maturity dates started in october last year had almost been completed
although earnings will be poor for the next two quarters we believe that profits could begin to improve in the second half perhaps significantly and should surge sharply through 1988 and 1989 he said
the 1986 annual report of zambias state run metal marketing corporation said 81 pct of the countrys metal exports were channelled through dar es salaam last year versus 79 pct in 1985
german banking authorities weigh swap regulations
egypt buys pl 480 wheat flour us traders
the gnp forecast by the institute one of five leading economic research bodies in west germany is more optimistic than that of the other institutes some of which have recently reduced their gnp forecasts to between two and 25 pct
some thought a rate cut unlikely given foreign exchange turbulence and the us prime rate rise to 7 3 4 pct while others still counted on a 1 4 point cut by the bank of france
interest rates have declined by approximately 50 basis points over the last month largely over indications that inflation is not as high as people had feared and the narrowing us trade balance in nominal terms samuel kahan chief financial economist with kleinwort benson government securities said
commenting on the layoffs iomega said those from among the direct labor force affects personnel building the alpha eight inch disk drive and bernoulli boxes
australia faces a major medium term adjustment to reduce debt and improve its economic performance the organisation for economic cooperation and development said in its latest annual review of the australian economy
petro canada believes terra nova field is a good commercial prospect and the company wants to move some of those resources towards development so it can start generating a return on investments petro canada said
national convenience ncs to have 3rd qtr loss
sumner will be president of the combined unit crossland said
some 44 banks have failed so far this year twice as many as failed by this time a year ago but seidman said he doubted the pace would continue
moodys cited texacos filing under chapter 11 of the bankruptcy code on sunday
the terms of the proposed transaction were not disclosed
shr 32 cts vs 21 cts net 4717000 vs 2587000 revs 729 mln vs 379 mln avg shrs 147 mln vs 126 mln year oper shr 75 cts vs 41 cts oper net 107 mln vs 4642000 revs 1889 mln vs 1066 mln avg shrs 142 mln vs 14 mln note 1985 year net excludes 495000 dlr tax credit
he did not say what crops have been damaged in northeast thailand but said large durian orchards in eastern chanthaburi province have suffered heavy losses
colombia has opened coffee registrations for june shipment with no limit set for private exporters as in april and may a national coffee growers federation official said
britain reacted optimistically at first to the letter from nakasone to prime minister margaret thatcher seeing it as a signal that he would work towards ensuring a satisfactory outcome to the bid launched by cable and wireless plc government officials said
uk money market receives no morning assistance
ual stock today was up three at 63 in active trading
the aim of the amalgamation is to limit regulatory and administrative costs and achieve the recognition required under the 1986 financial services act
danforth reaffirmed that westinghouse is interested in acquisitions saying the company is leaning toward acquisitions in the 300 mln to 500 mln dlr range
the fiercely contested tax would be a levy on consumers and steeply increase the costs of industries such as potato processing and cake and biscuit manufacturing de bruyn said
european community ec commissioner willy de clercq meanwhile told reporters conflict between the worlds three major trading and economic powers the ec the us and japan set a poor example for other members of gatt
the sectors which registered the greatest growth in 1986 were fisheries with 10 pct agriculture at 87 pct transport and communications with 81 pct and industry at 80 pct the bank added
meanwhile ecuador announced an austerity program and a price freeze on key consumer goods as a result of the earthquake which killed at least 300 people
the koether groups letter gives the company five days to respond to its request
talks with commercial banks will take place at a later date
hedging during the lme ring sessions becomes much simpler with a dollar contract
he said arvin will complete the purchase of systems research laboratories in the second quarter of 1987
the president vice president former president director general and four other managers at the southern italian cassa di risparmio di calabria e lucania carical had been released but were still under investigation for an alleged embezzlement conspiracy
in a speech sarney justified his measure as a need to face current well known difficulties to obtain foreign loans for the purchase of goods the parallel market although tolerated is technically illegal
the non callable issue will be available in denominations of one mln yen and will be listed in london
sorghum season begins sept 1
non callable for five years the debt is rated b 1 by moodys and bb minus by standard and poors
president corazon aquino last month asked smc and ucpb to set up a three man arbitration panel to resolve the ownership issue
the yield on the bills for sale to banks and securities houses from money houses will be 39505 pct against the 39375 pct discount rate on one month commercial bills and the 450 37 pct yield on one month certificates of deposit today
shr 121 dlrs vs 180 dlrs net 169 mln vs 246 mln revs 2309 mln vs 2896 mln 12 mths shr 197 dlrs vs 237 dlrs net 276 mln vs 324 mln revs 6486 mln vs 8757 mln note company reports earnings qtrly and includes the previous 12 mths figures
net includes pretax unrealized loss provision recoveries related to marketable securities of 580000 dlrs vs 824000 dlrs in quarter and recovery 640000 dlrs vs provision 366000 dlrs in nine mths
ayer bought the other 49 pct next year
britain almost trebled its contribution to 130 mln stg from 45 mln
each 10000 mark bond carries two warrants which can be converted into 5000 dlrs each on the same terms as the warrants for the 1000 mark bonds deutsche said
the company named lazard freres and co as lead manager of the deal
it gave no more price details
tseng posted total revenues for 1986 of 4255731 and net income of 258125 or 14 cts per share
argentine meat exports higher in jan feb 1987
the united food and commercial workers union said unlisted safeway inc has agreed to provide severance pay to about 5000 workers in the dallas area resulting from the closure of a division last april
need for bigger allied force in gulf played down
moodys investors service inc followed suit cutting most of the debt of texaco and its units to caa
mulligan declined to speculate on how much of the capital growmark is entitled to
the non callable bonds will be listed in london and will be issued in denominations of 1000 and 10000 stg
on monday harper and row received a surprise 34 dlr a share bid from investor theodore cross owner of six pct of the shares for the stock he does not own
it did not elaborate on what common share dividends might be paid
british prime minister margaret thatcher said she and soviet premier nikolai ryzhkov had set targets for increased trade between the two countries during talks earlier today
matrix science mtrx sets stock split
it said it will not disclosed details
usda gave detailed breakdowns for the 1986 87 and 1987 88 seasons as follows in thousand tonnes unless stated a firm sales to a declared destination
snyder did not say whether it has received any response to its proposal from cenergy
primary earnings per share data calculated after deducting preferred dividend requirements
you cant discount him said one arbitrager
striking brazilian seamen who say they have made idle 158 ships and halted brazilian exports today held pay talks in rio de janeiro with labour minister almir pazzianotto union officials said
dole said he was encouraged by the selection of republican david karnes to replace the late sen
oper shr 13 cts vs six cts oper net 2124013 vs 909158 revs 1686 mln vs 1576 mln note 1986 and 1985 years exclude loss discontinued operations 6974554 dlrs and 268000 dlrs respectively
the government missed a major opportunity to persuade oil exploration companies that it had realistic answers to the industrys concerns despite its recognition of the industrys problems the council said
dca currently holds 275 pct of the outstanding shares of cts
bernstein and co to raise his earnings estimates for the company to 128 dlrs a share in 1987 compared to his previous estimate of 120 dlrs a share
rabobank nederland said in its latest economic bulletin by maintaining the 11300 limit the central bank raises the expectation it will always intervene above that level
in response to enquiries from he said his company had raised the minimum price for its spot sales from 240 dlrs per flask following talks with enof
the company also said the system will tracks each piece of warranty glass distributed by chrysler
there are also about 6432000 class a shares outstanding but trump said i have no interest in the class a shares each class b share has 100 times the voting power of a class a share
a group spokesman would not disclose the total purchase price of its current holdings
the officials said corn imports rose because the world surplus and the yens strength against the dollar reduced chicago prices
this year however a self imposed quota system has been introduced with the aim of cutting plantings to 130000 hectares and reducing white sugar output to around 915000 tonnes to minimise the amount of non quota c sugar produced
he also said that to curb inflation salary increases would have to be below the inflation rate
shr 26 cts vs 11 cts net 8700000 vs 3600000 revs 9889 mln vs 6745 mln nine mths shr 365 dlrs vs 138 dlrs net 1206 mln vs 436 mln revs 27 billion vs 21 billion note net for 1987 includes 44 mln from discontinued opers 516 mln after tax gain on sale of ef hutton insurance group and 366 mln on extraordinary gains from utiliazation of loss carryforward
deregulation of japans oil industry could mean hardship for smaller firms and lead to their merging into bigger refining and marketing groups industry sources said
a prime rate increase could happen as soon as tonight said robert brusca of nikko securities co international inc
the 1992 deadline for abolishing economic barriers within the european community should help french economic growth and create jobs president of the french employers federation cnpf francois perigot said
although the central bank does not see any imminent risk of inflation there could be some problems in the future he said
ecuador to use colombia oil link for five years
shr profit 13 cts vs loss one ct net profit 853000 vs loss 22000 sales 411 mln vs 203 mln avg shrs 6349753 vs 4403852 nine mths shr profit 57 cts vs profit 28 cts net profit 2869000 vs profit 1252000 sales 1190 mln vs 676 mln avg shrs 5054844 vs 4403852
a group of affiliated new york investment firms said they lowered their stake in cyclops corp to 260500 shares or 64 pct of the total outstanding common stock from 370500 shares or 92 pct
american barrick abx unit completes issue
petricioli said mexico is in the final stages of discussions which will determine quantitative economic targets for 1987 which will allow it to continue to draw from the imf for the rest of 1987
the company also said it was advised that dixons shareholders approved the merger satisfying that condition of the agreement
south yemen is planning a major oil pipeline system to be completed in 18 months time to start exports at a initial rate of 100000 barrels per day bpd the middle east economic survey mees said
in testimony before a senate banking subcommittee mulford said he based this prediction on progress in talks between banks and mexico chile and venezuela as well as progress in negotiations with the philippines
the minimum amount of each tranche to be sold will be one billion francs
sandoz has insisted that it is adequately insured to cover any liability arising from the accident
northeast savings fa said its board adopted a shareholder rights plan designed to protect the company from coercive takeover tactics and bids not fair to all sharholders
goodmark foods inc gdmk 2nd qtr feb 22 net
this brings its total assistance on the day to 346 mln stg compared with a liquidity shortfall it estimated at a revised 250 mln stg
paradise fruit co inc parf year net
chairman david barnes said the loan charge offs and increased provisions address four areas of concern in the banks wholesale lending portfolio the energy sector developing countries some basic industrial companies and several commercial real estate businesses
this yielded an annualized 88 pct rise over the six month to february up slightly from an 86 pct increase over the same period to january
frontier insurance group inc frtr 4th qtr net
this will make emery a bigger factor in the light weight delivery business but it will not make them a power house said douglas arthur of kidder peabody and co
an antwerp port authority spokesman said electricians came out in support reducing ship movements to a trickle
sept 30 end primary shr five cts vs eight cts diluted shr five cts vs eight cts net 100000 vs 176000 revs 4027000 vs 3649000 primary avg shrs 2212281 vs 2189000 diluted avg shrs 2212281 vs 2330866 note 1986 results includes a tax credit of 90000 dlrs
treasurer joseph smorada and vice president joseph odonnell who made 143325 dlrs last year would get one and a half times his salary if there were a change in control
it was unclear whether union meatpackers would return to work
centrale de credit cooperatif issue detailed
japanese traders said the new pact had a chance for success as most world producers and consumers had adopted it but they questioned the ability of some financially strapped producers to finance buffer stock operations
shr 79 cts vs 505 dlrs net 5628000 vs 35936000 revs 418 mln vs 394 mln year shr 232 dlrs vs 724 dlrs net 16524000 vs 51541000 revs 1602 mln vs 1149 mln note current qtr figures include securities gain of 21 mln dlrs or 29 cts per share vs gain of 343 mln dlrs or 481 dlrs per share
i am concerned that we have gotten so nervous about exchange rates seger said
usda estimated the overall cost of the bill to be 111 mln dlrs
the commodity credit corporation ccc had 332 billion dlrs invested in commodity loans and inventories on november 30 1986 compared to 250 billion a year earlier the us agriculture department said
dome petroleum ltd earlier reporting a 220 billion dlr 1986 loss compared to year earlier profit of 70 mln dlrs said the loss was mainly due to write downs totalling 2084 billion dlrs before a reduction in deferred income taxes of 571 mln dlrs
mitchell held of smith barney harris upham and co inc said that many portfolio managers now believe yields could approach nine pct by midyear which he considers unlikely
a formal decision will be taken at the quarterly council session on april 8 9 when decisions are needed on the budget and activities for the year beginning july one they stated
the uk clearing banks swiftly took this up cutting their base rates by a half point to 10 pct
several lawmakers have argued the new trade bill made too many concessions to reagan and said they intend to back amendments to get tough with countries that violate trade agreements or keep out us products
farm out agreements cheap rig rates and less competition have held finding costs in those areas to five or six dlrs a barrel walter said
however before announcing its export policy the ibc is likely to wait to see if tomorrows meeting of the international coffee organisation ico executive board in london decides to call a full council meeting to discuss reintroduction of export quotas sources said
this is well within the capacity of the nation to service azraai said the 1986 foreign borrowing level and projected estimates of 1987 compared favourably with the peak of around 55 billion ringgit in 1982
reynolds said the company expects to book an after tax gain of 250 mln dlrs from the sale of wor tv
costa rica is insisting escalante said on a new quota system based on a producing nations real export capacity once it has satisfied internal demand
in a speech earlier today before the national grains and feed association usda secretary richard lyng said it is too late to implement 0 92 for 1987 crops since program signup will be over by the end of this month
the london stock exchange has no immediate comment on the us insider trading charge against a senior london executive of merrill lynch and co an exchange spokesman said
1985 net includes extraordinary items of 108000 and gain on sale of 16 mln dlrs tax carryforward gain of 246000 dlrs
the bank is the first to lower its prime rate below the 18 pct set by a few banks in the last few days in a continuation of a downward trend which began late last month
the 500 mln dlr credit is in the name of the state owned rafidain bank
sara lee corp said it agreed to buy a 34 pct interest in paris based dim sa a subsidiary of bic sa at a cost of about 84 mln dlrs
the coupon has been set at five pct and conversion price at 74 dlrs per share which represents a 2385 pct premium over genentechs stock closing level of 5975 on the new york stock exchange last night
shr loss 28 cts vs loss six cts net loss 561029 vs loss 114712 revs 3464269 vs 4083833 nine mths shr loss 56 cts vs loss 13 cts net loss 1104472 vs loss 261791 revs 105 mln vs 116 mln note prior year net includes losses from discontinued operations of 99209 dlrs in quarter and 202097 dlrs in nine mths
monthly corn shipments out of yugoslavia have averaged around 160000 tonnes since october 1 higher than earlier estimates of 150000 the official said
fcoj supplies significantly above year ago usda
dynamics research corp drcoo 1st qtr march 21
in addition commercial paper accounts for around five billion markka and treasury bills two billion
bill frenzel r mi said the subcommittees bill was not one that a free trader like me could endorse in all respects but he emphasized there was a consensus among lawmakers to work toward a bill reagan and republicans would ultimately endorse
usda spring potato estimates
glynwed international plc glynl 1986 year
shr loss 1922 dlrs vs loss 390 dlrs net loss 2764 mln vs loss 456 mln revs 854 mln vs 1133 mln note shr results after deducting preferred share dividends of 131 mln dlrs in both periods
pillsbury is assuming that they soviets will be offered a subsidy and that it will be a subsidy that they can respond to hoffman told in an interview at an agribusiness education conference here
banponce corp bdep 1st qtr net
neither finch nor us imf representative charles dallara could be reached for comment
network control corp said it intends to take a 250000 dlr charge against earnings for the third quarter ended march 31 and said sales for the quarter would be about 400000 dlrs about 50 pct below sales in the same year ago quarter
the tax would create such a spread that japanese would be unable to compete in the international market he added
usda to update winter wheat acreage tomorrow
with little expectation of other sales incentive mechanisms such as discounts bonuses and price fall guarantees being introduced the level of the quota will be decisive in determining the competitiveness of brazilian coffee on world markets they said
it said the junior subordinated debentures to be issued in the subsequent merger will carry a 13 pct annual interest rate payable twice a year
the second 200 mln franc 12 year bond led by ccbp will be issued at 99 pct with interest also based on tam with the same coupon payment date
the company said the product with the generic name of sucralose is made from sugar and tastes like sugar but is about 600 times sweeter
ico board passes over coffee quota issue
mannesmann seeks stake in us firm
reliance industrial will buy back the 7 1 4s at 101 plus accrued interest and the 9 5 8s at 102344 plus accrued interest
northwestern national life nwnl ups payout
palomino said the government would soon publish a list of those to be sold including those whose shares would be offered on the lima stock exchange
smith kline said that depending on its share price and the cost of money it may buy back more shares
spokesman marlin fitzwater told reporters the february sales growth was broad based and good news for the economy commerce department figures showed a larger than expected rise following depressed levels of sales and factory orders in january
the shipping sources said irans sassan rostam and rakhsh offshore oilfields were attacked at 0700 local 0300 gmt by a wave of jet fighter bombers
oper shr profit nine cts vs loss seven cts oper net profit 628000 vs loss 491000 sales 507 mln vs 418 mln avg shrs 7033000 vs 6557000 note oper net excludes extraordinary profit of 423000 dlrs or six cts a shr and 110000 dlrs or one ct a share respectively in 1987 and 1986 quarters from utilization of tax loss carryforwards
prior nine mth net includes 34 mln dlr asset sale gain
smith and nephew associated companies plcs 15 year convertible eurobond has been increased to 90 mln stg from the initial 85 mln and the final terms have been set lead manager credit suisse first boston ltd said
rohr industries inc is raising 150 mln dlrs through an offering of subordinated debentures due 2017 with a 9 1 4 pct coupon and par pricing said lead manager dillon read and co inc
this would certainly be the case if the ibc was considering obliging exporters to pay the contribution quota within two or three days of registering a sale
consul restaurant corp said it began an exchange offer for its 13 pct convertible debentures due 1992 with an aggregate principal amount of 175 mln dlrs
however there were no reports that a formal crisis meeting of market makers such as that called in december last year during the perpetual frn market collapse was on the cards
sri lankan government to stop importing sugar
commerzbank unit issues sterling eurobond
but only in britain has there been any suggestion of acting with the us to do something about japans huge trade surplus
they were not simply pledges to maintain currency stability but also to conduct a certain type of economic and monetary policy he added
disney would pay 217 mln dlrs to gencorp and 103 mln dlrs to a group that challenged the stations license
inros five day moving average was quoted at 2373 cents on october 16
last week the central bank said that from today it would reduce its purchase of forward us dollars from banks to 40 pct from 90 pct of the value of the contract
bank of japan governor satoshi sumita said there is little room left for the central bank to further ease its credit policy as interest rates levels are now approaching their lower limit
forced last month to cut the governments 1987 growth target and raise its inflation estimate finance minister edouard balladur ruled out action to stimulate the economy
but newfoundland premier brian peckford said an agreement was more likely to emerge by consensus and there would be no need for a hard and fast formula peckford said it appears canada is prepared to make concessions to the united states on financial services in order to make inroads on other bargaining areas such as agriculture
administration officials familiar with the negotiations said brazils new economic measures did not make much sense based on current conditions in that country and added that they saw long and difficult negotiations ahead
the bond would be priced at 9975 to yield 4736 pct compared with 9950 and 5075 pct in march and proposed issue volume is 1400 billion yen against 475 billion it said
fisher said 5300 also told it they will continue to explore possible advantages and disadvantages of various acquisition proposals
dh holmes co ltd hlme 4th qtr net
i put it to the post and telecommunications minister that i was sure he did not want to be responsible for an abrupt deterioration in the trading relations of our countries which would have widespread reverberations elsewhere in the world howard told reporters
lasmo shares were down 2p at 251 after the announcement
speaking to reporters at the annual meeting of the inter american development bank nogales said bolivias bank advisory committee led by bank of america is seeking permission from creditor banks worldwide to go ahead with the scheme
it also said that based on recent independent petroleum engineers estimates of oct 31 1986 there may be no amounts avialable for distribution the rest of the year
wickes companies inc said it completed the sale of its sequoia supply division to a new company created by the management of that division
redstone really wants to own the company one said
a lot will depend on oil prices and developments on stock exchanges witte said adding he saw gold positioned for further rises once it breaks out above 450 dlrs
in its latest annual report the states of malaya chamber of mines said the gsa sold 5490 tonnes of tin in 1986 well above an agreed upon annual limit of 3000 tonnes
the bond is callable after seven years at 100 1 8 pct and it will be listed on the london stock exchange
traders rushed into the spot or unlimited contract to offset those moves analysts said
we achieved in one year what would otherwise have taken five to 10 years to set up cornelissen stressed that royal trust would shun direct competition with major global financial institutions in activities such as international lending and stock brokerage in order to exploit profitable niches overseas in traditional trust activities such as asset management private banking and advisory services
some officials argue that the simplest solution to the problem would be for the state to raise city grain prices
the high level of activity on the capital and equities markets in 1986 contributed to a sharp improvement in hongkong bank subsidiaries wardley ltd waiahk and james capel and co analysts said
hungary is to grow sugar beet on 105000 hectares of land this year compared with some 95000 in 1986 the official mti news agency said
new england critical care inc said it completed its purchase of npo therapies inc of salt lake city
the requirement to deposit with the central bank has also meant brazilian banks have been able to negotiate lower interest rate spreads because foreign banks would rather accept a reduced margin than see their money deposited with the central bank
the newly announced purchase plan is in addition to its existing anti dilutive stock repurchase programs
on november 2 the house of lords will decide if and to what extent itc documents whether circulated or not are admissible as court evidence
this brings the banks total help so far today to 945 mln stg and compares with its revised forecast of a one billion stg deficit
japan ministry has no comment on rice talks report
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
commenting on the two week statement period that ended on april 8 the fed said banks had average net free reserves of 447 mln dlrs
a year earlier it earned 7300000 dlrs after a 120000 dlr loss from discontinued operations on sales of 854 mln dlrs
the bank said that by lowering the dividend rate it expects to maintain the value of dividend payout on the enlarged capital at about the level of its last full year ended september 30
the asa and national soybean processors association nspa delegations will meet top west german government officials today and tomorrow to lobby for support
the floating rate note sector basically ended easier following the increase in period eurodollar deposit rates prompted by the prime rate increases dealers said
shr 216 hk cents vs 12 final div six cents vs three making nine cents vs 55 net 121 mln dlrs vs 6742 mln note extraordinary gains 72 mln dlrs vs 27 mln
us bond trading is likely to remain cautious in the near term with a possible downward price bias as market participants focus on trends in the dollar the economy and federal reserve policy economists said
cardenas sees no major decisions at ico meeting
in a statement jacobs said it had acquired all the shares tendered by the time its offer expired on march 30
the unit was formed last month when hoechst completed the acquisition of celanese for 284 billion dlrs
the project calls for construction of a 400 mln us dlr facility which could produce two mln tonnes of lng for supply by taiwans state owned chinese petroleum corp this was the first time taiwanese banks including the bank of taiwan and bank of communications were invited to form a syndicated loan they added
tunisia is expected to tender april 14 for 100000 tonnes of french soft wheat for delivery between may and august and which would be covered by the french export credit agency coface export credits traders said here
this years fall was due to lower selling prices for end users which more than offset the yens appreciation
the central bank has issued 708 billion dlrs worth of certificates of deposit cds bringing the value of cd issues so far this year to 9329 billion a bank spokesman told 
although two of mhis main businesses shipbuilding and power plant construction have been hit hard by the yens 40 pct rise against the dollar the company has no plans to abandon them iida told in an interview
but seipp also called for support for growth from fiscal policy saying the top rate of income and corporate tax should be brought down to 49 pct
barry cameron smail commercial unions treasurer said the new financing will not increase its debt outstanding but rather act as an umbrella for all its financing needs
however it excludes convertible subordinated debenture issues and tax exempt bonds as well as bonds with maturities under five years or with variable rate coupons
inflation for the year ending may 1987 was 757 pct compared to 768 pct for the year ending may 1986
he said tax date pressures have been pushing up fed funds lately
sanwa bank acquires small stake in portuguese bank
gte corp 1st qtr shr 78 cts vs 86 cts
jaguar sees strong growth in new model sales
a majority of americans disapprove of the way ronald reagan has handled the presidency and one third believe he should resign a new poll said
pentagon has no information on iran attack rumors
the company said its more efficient operations would be necessary to offset more adverse oil market conditions ahead
currency moves may be hurting world trade
but the report for january showed marketings at 101 pct of a year ago and in february marketings were at 100 pct levitt noted
the supply demand position has improved in the past year and despite a silver market surplus the quantity of silver is modest enough to be absorbed by investors it added
we havent made a decision on it havent even talked about it havent even looked at it reminded that there have been reports that moscow would buy us wheat if competitively priced lyng responded if they the soviets would offer to buy some wheat would we accept it it would depend on what price they offered lyng added that he did not think the price of us wheat was far off the world price
one uncertain factor is the course of the iran iraq war
japans delegate minoru endo and us ambassador michael samuels replied in the debate that the ec charges were unfounded but they were willing to continue bilateral talks
this purchase represents 30 pct of the outstanding shares
illinois co ops other members include such regional cooperatives as indiana grain based in indianapolis goldkist of atlanta ga midstates in toledo ohio farmland industries in kansas city mo farmers commodities des moines and harvest states in minneapolis
cadillac fairview corp ltd said it received proposals to acquire the company following its announcement last august that it had retained investment dealers to solicit offers for all outstanding common shares
ec sources noted that under a tender system maize from outside the us would sometimes be offered on more favourable terms than that from the us no commission spokesman was immediately available for comment
handleman co hdl sets quarterly
a spokesman told reporters the documents would formalise the agreement reached in march on the restructuring of 103 billion dlrs out of a total foreign debt of 282 billion
taft tfb given deadline on buyout proposal
many futures commission merchants predicted sell orders would accelerate in the event the price approached the bottom limit
over 3000 berg harmon limited partners have made capital investments of over 300 mln dlrs in the properties now managed by southmark
finance minister barend du plessis said the reserve bank was investigating the implications of such conversions in light of terms and restrictions of the financial rand system du plessis in disclosing the new agreement last night said the recent sharp rise in the financial rand was an example that some foreign investors are again taking a more realistic view of south africa terms of the debt agreement call for south africa to repay 142 billion dlrs of 13 billion dlrs of frozen debt over the next three years
perus exports fell to 251 billion dlrs last year from 298 billion in 1985
faos forecast of 1986 87 world cereals trade was revised upwards by eight mln tonnes to 179 mln due to the likelihood of substantial buying by china and the soviet union
amer said in a statement the loan would be used mainly to convert its overseas currency loans and expand business but gave no further details
in addition the company said it authorized another 800000 shares but would not issue them at this time
when the talks began on monday xuto said those issues should be settled by the end of the first week to allow time to draft an agreement during the second week
it was a heaven sent opportunity cornelissen said of the dow financial acquisition
canada malting co ltd year net
late week rains and thunderstorms came at an opportune time
rj nabiscos rjr unit sells cigar business
however australias output is estimated to rise to 90 tonnes this year from 735 tonnes in 1986
the statement said applicants for over 5000 shares will receive 30
the company which went public in march 1985 earlier reported losses for the fourth quarter
it also said revenue growth should continue during the year and the company should experience improved profitability in the second half when acquisition and new product introduction costs will not have a significant impact on earnings
division seen on how to help us oil industry
baldrige will meet south korean president chun doo hwan and trade minister rha woong bae on monday to discuss opening south korean markets to more us goods
they say that without innovations some business could drift to london which the bundesbank vehemently opposes
the ministry is expected to allow four year euroyen bond maturities within a few months
shr 18 cts vs 13 cts net 1706601 vs 1226609 rev 427 mln vs 363 mln avg shares 9695444 vs 9537043 note companys full name is international dairy queen inc
dixons group audio video ava end litigation
tokheim corp tok 1st qtr feb 28 net
the treasurys announcement of a 15 billion dlr refunding operation did little to move cash government securities prices late wednesday after the close of futures
qtr ended dec 31 oper shr loss two cts vs loss 92 cts oper net loss 28045 vs loss 1040700 sales 4943584 vs 5613400 nine mths oper shr profit 11 cts vs loss 93 cts oper net profit 124434 vs loss 1054000 sales 226 mln vs 263 mln mouduline international inc note oper data does not include 1986 gains from tax benefit carryforwards of 30000 dlrs or three cts per shr in qtr and 110000 dlrs or ten cts per shr in nine mths
the minister will seek a clear timetable from japan for easier access for british institutions to japanese financial markets reciprocating the easy access japanese securities houses and banks have to the city of london
the company also declared a regular cash dividend of four cts a share and reported 1986 net income rose to 171 mln dlrs from 115 mln dlrs
the tender calls for 11 cargoes for delivery from april through october with early shipments fob or pacific northwest they said
the communique said iranian revolutionary guards were under assault from warplanes helicopter gunships heavy artillery and tanks
the cindasa spokesman said other corn shipments this month will include between 15000 and 30000 tonnes bound initially for rotterdam and ghent and destined for unspecified northern european countries
shipping serving kuwait has come under repeated attack by iran angered at the emirates war backing of iraq
the record trade shortfall came after a revised 3715 billion dlr third quarter deficit
qtly div five cts vs five cts prior pay april 30 record april 10 note bf saul real estate investment trust
coloroll agrees to buy us wallcoverings company
the bank would then be free to sell the stock during the fallow period but not at a price below the minimum tender price
ec member states cool on cereal plans
kuwait may re register part of its tanker fleet with foreign flag jurisdictions including the us and ussr in an attempt to protect them from iranian missile attacks in the gulf war zone us officials were quoted by the new york times as saying
sahlen a private invetigation company said the gleason companies provide security guard services to corporations in the tri state area
afg industries inc afg 1st qtr net
no one would benefit if after years of over valuation the us dollar fell into the other extreme that is strong under valuation he said
like non convertible money market preferred stock the new version allows investors to redeem their holdings every seven weeks
beecham group bhamy to sell unit
gaf had offered 46 dlrs per share previously
period ended february 28 shr 25 cts vs 25 cts net 6292000 vs 6340000 sales 970 mln vs 870 mln six mths shr 36 cts vs 28 cts net 9122000 vs 7053000 sales 1932 mln vs 1686 mln note 1986 period ended march one
mueller brass lowers product prices
the consumer price index base 1981 was 1427 in february 1422 in january and 1378 in february 1986
ec increases special feed wheat tenders trade
it also said that about 60 net infill wells are not economical to drill at december 31 prices
xtra xtr to buy fruehauf ftr unit
s and p announced friday afternoon that it cut to b from b plus a 900 mln dlr issue of senior notes due 1994 of holiday inns inc a unit of holiday corp hia the notes were priced late thursday by sole manager drexel burnham lambert inc
giant yellowknife mines ltd 4th qtr net
gulf money markets have grown reasonably well during the past decade but bond and stock markets remain to a large extent fragmented and lag behind gulf international bank bsc gib said
the 1986 figure was increased to include expenses involved with its settlement of a dispute with dynamics corp of america dya the settlement involved a takeover bid for cts by dynamics corp which had offered to buy the shares of cts that it did not already own
fhlbb changes short term discount note rates
the group which also includes sterling grace capital management inc lp and anglo american security fund lp said it was willing to deposit in escrow 100000 japan fund shares worth about two mln dlrs to insure its ability to obtain financing if japan fund approves its offer
niedermeyer told the house foreign affairs sub committee on international economic policy and trade in washington that the sales agreement contains an option that could make lumber exported worth more than 20 mln dlrs
santos says profits hit by oil price fall
the government should cut its consumer rice price if the official producer price is reduced next month tetsuo kondo director general of the governments economic planning agency epa told reporters
the british civil aviation authority caa has granted licenses for two airlines brymon airways and eurocity express to fly three lucrative european routes from the 20 mln stg london docklands airport
leading industrial nations will meet again next month to review their accord on currency stability but us officials said financial markets are convinced for now the countries will live up to commitments to speed up economic growth
yankee ynk unit not to sell subsidiary
the spokesman gave no date for the signing
american communications astve gets exception
pricing will take place on april 1 and the exercise period is between may 18 1987 and april 15 1992
it said prior year comparisons were thus not applicable
the turn in the fortunes of the once sickly chemical industry has been brought about by a combination of luck and planning said paces john dosher
arlan stangeland r minn is aimed primarily at curbing imports from canada of products containing sugar and foreign foods containing dairy products
the interest rate spread agreed was 7 8 of a percentage point over libor
but cox says the government must be worried with sterling heading toward 295 marks and would be very concerned if it holds around these levels
first city said about half of the loans sold to prudential came from its energy finance co an entity formed in 1982 to loan money to more venturesome oil borrowers that promised a higher potential return
thermo electron 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 main sticking point on quotas has been brazils attitude and this compromise could be a solution one said
grade 92 octane will be 906 cents against 876 previously
the new york branch of mitsubishi bank ltd said it set a one billion dlr us medium term certificate of deposit note program
the companys ordinary shares closed in milan today at 12540 lire in milan today up from a closing 12195 friday
oesterreichische draukraftwerke sets sfr bond
the company reiterated its denial of the charges stating there was no merit for the suit
foreign exchange trading income totaled 713 mln dlrs up 443 mln from a year ago
the companies will consummate the transactions as soon as the required approvals are obtained mclean said
the payout represented 276 pct of group net profit against 282 pct last year
major trading houses which see their profits evaporating in the heat of increased competition in merchandise trade all have foreign businesses on their shopping lists
world bank team arrives in uganda
yulo told a survey during the current milling season which ends next month showed the 1986 87 estimate would almost certainly be met
greyhound lines will go forward with the transaction only if it is permitted to assume immediate unconditional control of trailways operations and to integrate them with its operations greyhound said in a filing with the icc the federal regulatory agency which has the final say over mergers of interstate bus companies
georgia power said the revised vogtle budget estimate was due to several factors including additional labor costs incurred to keep the plants first unit on schedule for commercial operation by june
under the previous agreement banks were only given options for three year loans
the trade they said was swap related
net profit per share corrected for a share issue and stock split was 392 guilders in 1986 against 328 and dividend 155 guilders per nominal five guilder share against 130 guilders
paris meet agreed not to publish bands lawson
kenneth may president of holly farms poultry industries and a director of the national broiler council told a house agriculture subcommittee the incidence of salmonella in chicken has not increased in recent years and that chicken is neither the major source of the bacterial poisoning nor the cause of an increase in outbreaks of the disease
meinhardt said the authorisation would give the company the necessary flexibility in case linde needed additional funds for acquisitions
oreffice speaking at a meeting of chemical engineers in houston said dow would easily top the 741 mln dlrs it earned last year and predicted it would have the best year in its history
financial terms were not disclosed
speaking to reporters on his return from the meeting lyng said only about five minutes of the session dealt with agriculture issues
money market fund assets rose 5525 mln dlrs in latest week to 23746 billion
interest rates also fell the same week in britain belgium and italy
prices for the best latex crepe at the colombo auction last week firmed to 2019 rupees per kilo from 2005 rupees at the previous sale
us senate republican leader robert dole r kan said he and a group of republican lawmakers are considering introducing legislation to extend the ethanol tax exemption through the year 2000
you have to look at the dollars peak compared with now and that was well before plaza he said
loan loss provision 138 mln vs 130 mln investment securities gains 2003000 dlrs vs 169000 dlrs
the new company said its board will have nine members including the chairman and chief executive officer
under the agreement rhone poulenc will supply magnetic tape and media products to brown disc products
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
warner
the bundesbank is frightened of using up its powder he said
it said that banks net free reserves in the latest two weeks averaged 660 mln dlrs versus 675 mln dlrs previously
stoltenberg told the west german trade and industry association diht that before a meeting with baker on monday there had been surprising notes of criticism from the united states he added
the market seems to have accepted the modest cut for the time being said midland bank treasury economist david simmonds
textrons txt 14 billion dlr contract final
however the case of plywood was less clear
the airlines argued that westerns promise could not be enforced in a takeover by a larger company
morgan grenfell says 1986 profits hit by guinness
hillsdown holdings plc hldnl 1986 year
last years output is estimated at between 133000 and 135000 tonnes
uk officials are studying the possible link between the use of antibiotics in calf feeds and the spread of drug resistant strains of salmonella in humans a ministry of agriculture official said
perception technology corp said it expects to take a charge of about 686000 dlrs or 19 cts per share against earnings for the second quarter ended march 31 due to the bankruptcy proceeding of customer tc of new york inc
there will be a utilisation fee of five basis points on the revolving credit if more than 50 pct is used and a commitment fee of 75 basis points
the number of people actually receiving benefits under regular state programs totaled 3014400 in the week ended feb 14 the latest period for which that figure was available
rha made his remarks at the end of a two week trade mission here during which a team he led agreed to buy us products valued at 18 billion dlrs
porex technologies corp said it has agreed to merge with its partly owned subsidiary medco containment services inc in a deal worth about 380 mln dlrs in cash and common stock to porex shareholders
lori corp lrc 4th qtr oper net loss
policymakers must also face up to the reality that the bulk of world oil reserves lies in the middle east he said in a speech prepared for delivery to the australian petroleum exploration association apea annual conference
treasury figures show that the underlying change in british reserves seen as a guide to possible bank of england intervention on foreign exchange markets suggest that the authorities sold around 10 billion dlrs during september and october 1986 government sources said
1 well vermillion parish la
labour leaders in the copperbelt said last week gangs of unemployed youths were being formed in the politically volatile region to take action against shops that did not reduce their prices after todays deadline
entertainment publications inc said it expects an after tax loss of 31 cts a share in its third quarter from the disposal of three units it closed
revenues increased to 181 billion dlrs from 136 billion dlrs
we got almost a one percentage point reduction he said
the group told the sec it may continue to purchase additional cardis stock but also reserved the right to sell its shares in the company
i dont think its worth much more than where it is said joseph doyle of smith barney
3 and no
nonrecurring income items totaled 2564 in three mths 1987 vs 1211196 in three mths 1986
london meat futures need marketing chairman
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 governments target is to reduce inflation this year to an annual 20 pct
total general government receipts for 1986 87 are now estimated to be 1592 billion stg 275 billion more than the 1986 budget forecasts and above the autumn statement forecasts despite a shortfall of 125 billlion in oil receipts
us house panel approves trade bill
unlike many recent combinations this merger has no acquisition premium associated with it blampied said
brazils labour troubles eased a little today as the authorities announced they were withdrawing troops from the countrys main oil installations occupied three days ago
chrysler doesnt need that many new plants said michael luckey automotive analyst for the wall street firm shearson lehman brothers
but he told reporters japan should not cut its lines of communication with iran and iraq because its policy was to take a broad political stance
guinness plc guinl will seek an injunction in the uk high court today to freeze the assets of former chairman ernest saunders in its attempts to recover 52 mln stg paid to a jersey company as part of the companys takeover battle for distillers co plc a spokesman said
money market analysts said the positive trade news touched off a modest rally in the canadian dollar which rose to 7685 us cts on north american markets early this morning after closing at 7658 cts wednesday
open interest in the nikkei contract introduced last year reached a record 2697 on february 26
officials said when the cut was approved last month that it was aimed partly at compensating banks for higher interest rates
whittaker today reported first quarter earnings from continuing operations fell to 1522000 dlrs from 3501000 dlrs a year before
a communique read over the state run television tonight said that during todays weekly cabinet meeting the veteran ivorian leader reaffirmed his faith in ivory coasts bright economic future despite the commodities price slide
this takes the banks total help today to some 229 mln stg and compares with its forecast of a 300 mln stg shortage
unions said ghent and other major belgian ports were also hit
the same day gaf corp raised its stake by 91 mln shares to 199 pct of the outstanding
american national corp fnb 1st qtr net
it said legislation to define insider trading should avoid expanding current law in a way that would impede the market
the economists generally agreed that the fed is aiming for steady policy now that should correspond to a weekly average fed funds rate between six and 6 1 8 pct
it did not disclose the topic of the talks
donald keithley vice president dealer services for jd power a california based market research firm says that by 1990 12000 people will own dealerships compared to 16800 principal owners today
the united states and japan remain at odds over opening the closed japanese markets to us goods
bra kanon is chairman of the icco council and rumours that he or ivorian delegates might be delayed because of public mourning in the west african nation helped depress already low world cocoa prices friday
gull inc said it sold 20 mln dlrs of senior notes due march 31 1999 to two institutional investors through oppenheimer and co
shr 39 cents vs 42 cents interim dividend three cents vs same group net 358 mln ringgit vs 391 mln pre tax 773 mln vs 998 mln turnover 116 billion vs 105 billion note dividend pay may 22 register april 24
japanese buyers pay saudi arabia a price notified by petromin each month
wagner declined to give an exact figure for profits from the banks london branch which opened in april 1985 but said that it came close to one mln stg
cathay pacific forecasts good 1987 performance
legal wrangles continue
societe generale is issuing a 15 billion yen bond due april 21 1992 carrying a coupon of 4 1 2 pct for the first four years and priced at 102 mitsui trust international ltd said as joint book runner
hongkong aircraft reported this month its 1986 net profits rose 295 pct to 1155 mln dlrs
in other areas usx said total capital spending fell to 962 mln dlrs in 1986 from 178 billion dlrs in 1985
the move is likely to create a sharp price rise and a possible shortage of the key computer components in the next few weeks the analysts said
japan aluminium imports rise in february
others are more blunt
huntington said new england elecetric has all but rejected new coal fired plants to supply additional power
moodys may lower wr grace gra ratings
atcor inc said it cut its quarterly dividend to three cts per share from 12 cts because of depressed earnings
english in a telephone interview said the sec staff planned to allege that wppss had overstated the demand for power in the region and had understated the cost of the plants which were to built with the bonds proceeds
it was also possible the us would reimpose a 40 pct tariff on ec pasta lifted when the citrus row was settled
congressional observers said that at present there was little sentiment in congress to open the wildlife area for commercial exploitation dispite increasing concern that the united states is becoming overly dependent on foreign oil
ruding said he was less worried about a crisis of the weakening dollar than he was in january before the paris accord to stabilize foreign exchange rates
the issue is available in bearer and registered form in denominations of 5000 dlrs
a group of affiliated miami based investment firms led by fundamental management corp said it raised its stake in robeson industries corp to 238000 shares or 146 pct of the total from 205000 or 128 pct
german february capital account deficit 753 billion marks vs jan 1191 billion surplus bundesbank
weis markets inc said its board declared a three for two stock split for holders of record may 1 1987 with a distribution date of may 22 1987
cash settlement on the new cattle and pig contracts was introduced last june in the expectation that the appeal of the futures market to farmers abattoirs and users of meat would increase because of the absence of a delivery requirement
treasury secretary james baker told the house appropriations committee that he believes the president remains opposed to an oil import fee
the insurance broker issued a statement in reply to recent press speculation which it said was in part inaccurate and undesirable willis faber has not received any offers for its stake in morgan grenfell it said adding that an offer would have to be considered on its merits
a congressional study today said the proposed but now apparently abandoned merger of the communications satellite corp cq and contel corp ctc would technically be legal but could violate the spirt of the law setting up comsat
at the beginning of the conference the fourth such meeting in nearly two years xuto said it was imperative to settle those issues this week so that technical drafting work can be done next week
exxon said economies introduced in its operations from reductions in personnel and other savings such as reductions in exploration expenses were reflected in an 880 mln dlr reduction in consolidated operating costs from 1985
in any case the exchange rate partly depends on us currency and budgetary policy and the us economy he said
oper shr profit eight cts vs loss eight cts oper net profit 604996 vs loss 615345 sales 184 mln vs 178 mln note net excludes losses from discontinued operations of 156098 dlrs vs 732924 dlrs
the world bank said it approved loans to jamaica totalling 104 mln dlrs to assist it with an economic structural adjustment program a sugar industry rehabilitation scheme and a population and health project
the bundesbank could now assume that upward pressure on the mark would ease and currency inflows slow down
the drug division far and away brings in the highest rate of return said aw clements finance director of ici who was also at the meeting
the proposal said transactions in all these contracts must be conducted on the same market so participants can readily engage in arbitrage between various financial instruments
boatmens national bank boat raises prime
the canadian government today said ottawa would continue to apply a duty of 849 cents per bushel on us corn imports
ec ministers have approved financial packages for several mediterranean states totalling 16 billion european currency units an ec official said
a norstar spokesman said that a press release containing further details on the merger would be issued shortly
abeles said ansett would become the largest single shareholder in what he said was the fastest growing airline in the united states
coopervision eye delays annual meeting
britoil plc btoll 1986 yr
amsterdam rotterdam bank nv is co lead and a number of dutch and british banks will complete the syndicate
general motors corp said almost 125000 of chevrolets two newest cars the four door corsica sedan and two door beretta sport coupe have been ordered by dealers in advance of their official introduction thursday
van driel said profits would have been nine mln guilders higher if the us currency had remained at its average 1985 level of 320 guilders
financial aid from the ec had also helped to boost investment last year the bank said
the payment date is march 25 while the issue will be listed in luxembourg
finance minister kiichi miyazawa said the time has come for major industrialised nations to take action on exchange rates in line with their agreement last month in paris
at the time taft said the transaction would result in an after tax charge of 45 to 50 mln dlrs
analysts said the market is still trapped in a narrow range desperately seeking direction
earlier today gencorp said it will not ask shareholders to approve an increase in the number of its outstanding shares the election of a staggered board of directors and the elimination of cumulative voting
western digital wdc to redeem debentures
the average rate of 592 pct was the highest since 598 pct on july 8 1986
when announcing the negotiations with british and commonwealth last week klm said buying a minority stake in iml could involve a convertible loan issue
us urges japan to open farm market further
with a five year grace period its interest rate is currently estimated at 792 pct but would be variable it said without indicating with what it would vary
but machinea said the talks were difficult and argentina wanted to conclude them as soon as possible
brierley investments ltd bil launched a full takeover bid for the supermarket group progressive enterprises ltd at 435 dlrs a share
one company has bought 800000 barrels of iranian heavy at a straight discount of 30 35 cents below the official price the sources said
such a plan would allow the united states to block any loan it did not like with the assistance of only one other country
lyphomed inc lmedo 3rd qtr net
terms were not disclosed
revenues in the nine months are expected to be about 3880000 dlrs compared to 1828000 a year ago
japanese banks have asked the finance ministry to increase tax breaks on loan loss reserves but the ministry has not yet complied
but they noted that mis match deals issues whereby the coupon is re fixed on a monthly basis were firmer
the philippine proposal is very interesting its quite unique and i dont think its something that should be categorically rejected out of hand the official said
unemployment is likely to reach 12 pct of the workforce by the end of 1988
cable and wireless director of corporate strategy jonathan solomon yesterday again told ministry officials he opposes a merger proposal that would limit cable and wireless share to less than three pct and total foreign participation to about 20 pct the ministry official said
the metropolis of tokyo is offering in the yankee bond market 100 mln dlrs of guaranteed bonds due 1997 yielding 757 pct said lead manager first boston corp
he also told a news conference morgan had received informal approaches about a takeover of the group but was not interested
sosnoff said he rejected all of the proposals
zdzislaw kuroski deputy director of comecon who heads the east bloc delegation told ahead of todays session we have narrowed our differences on a range of questions but not on all questions asked whether comecon would accept ec insistence that any joint declaration stipulate west berlin as part of the community he replied this question is not contained in the draft which our side presented west german diplomats said they would insist on including the clause on west berlin in any ec comecon agreement
total turnover topped four billion guilders after 35 billion in the previous active trading week
he told brazil was not planning to modify the position it held before the recent international coffee organisation meeting
proceeds will be used to reduce long term debt and to convert other debt to fixed from floating rates the maker of high technology instruments and other products said
shr 32 cts vs 22 cts net 3454000 vs 2224000 revs 332 mln vs 281 mln nine mths shr 64 cts vs 38 cts net 6935000 vs 3877000 revs 868 mln vs 709 mln
the bank also said total non accrual loans increased to 24 billion dlrs in the first quarter from year ago 18 billion dlrs
walters added that it also felt that due to management changes in 1986 standard could now operate successfully even in a lower oil price environment
while mergers and acquisitions among us firms number in the thousands japanese buyouts of overseas companies have totalled just a few dozen one merchant banker said
the spokesman was commenting on west german press reports that fiat is considering a eurobond issue of up to 384 mln dlrs convertible or with warrants attached for exercise into its shares still held by the banks
hideo maki director general of the ministrys economic affairs bureau quoted lyng as telling agriculture minister mutsuki kato that the removal of import restrictions would help japan as well as the united states
the companys outstanding securities are rated aa minus by standard and poors corp
finland orders mcdonnell douglas md 11s
the customs bureau last week started to levy a bond on the japanese goods that reagan ordered penalized
while call money has dropped by well over a percentage point the bank of frances money market intervention rate has remained unchanged since january 2 when it was raised to eight pct from 7 1 4 pct in a bid to stop a franc slide
manufacturers national mntl raises prime
the agreement to transport ecuadorean crude oil is not only for this emergency period but for the next five years with possibility of an extension
canada february trade surplus 125 billion dlrs after january 623 mln dlrs surplus
but everything hinges on tomorrow
full name of company is american savings bank fsb of new york
gaf in its letter stated it intends to finance the proposed acquisition entirely with its own funds and bank borrowings under a syndicated bank loan from a group of banks led by chase manhattan corps cmb chase manhattan bank
they pointed out this is little changed from the combined spending of american hoechst and celanese corp in 1986
the bank last adjusted its short term treasury certificate rates on march 23 when it also reduced rates for all three periods by 010 points
the second tranche of 15 billion francs will be denominated in 5000 franc units and carry an 850 pct coupon payable december 14 each year
during a presentation in february icn had said it would issue its first mark eurobond sometime this spring icn planned to issue a bond to provide funds to acquire pharmaceuticals firms and expand its marketing base daus said in a statement
they predict the three month bill discount rate to slip to 3875 pct from 40000 today and the three month certificate of deposit rate to slide to 410 415 from 435 25
s and p cited its new policy on rating secured airline debt with special protection under section 1110 of the bankruptcy code
other arbitrageurs said both redstone and the management group led by president and chief executive terrence elkes were offering high prices
fed says it sets three day system repurchase agreements
he said the process of structural adjustment of the turkish economy to free market policies begun in 1980 was still under way
aetna aet to sell canadian operations
ccr video corp said it received an offer to enter into negotiations for intercep investment corp of vancouver bc to acquire a controlling interest in the company through a tender offer
some producers in the 1987 acreage reduction program may be eligible for deficiency payments on 92 pct of their enrolled acreage even though none of it is planted with wheat or other program crops the us agriculture department said
in the previous auction for 1000 billion yen the four majors took 92 pct of the issue to increase their tankoku inventory the managers said
4th qtr jan 31 shr five cts vs 28 cts net 2448000 vs 133 mln revs 1561 mln vs 2255 mln avg shrs 473 mln vs 478 mln year shr 18 cts vs 101 dlrs net 8430000 vs 482 mln revs 5879 mln vs 8439 mln avg shrs 474 mln vs 479 mln
s p said the move follows gurantees definitive agreement to be acquired by glendale federal savings and loan the fifth largest s and l in the us the combination with glendale should enhance the creditworthiness of guarantees debt s p said
the shares have been trading recently in a range of 45 dlrs
wolter had been senior vice president finance and chief financial officer of rapid american corps mccrory corp unit
williams details acceptances of norcros offer
still south korean trade minister rha woong bae said last week that korea would maintain a trade surplus for three to five years as a way to cut its 445 billion dlr foreign debt
s and p said it will review the timing and extent of asset sales debt reduction and strategic benefits of the purchase
the us grain planting intentions and stocks reports bear optimistic news for us agriculture a grain analyst on a chicago board of trade panel said
the company said the acquisition will result in a tripling of its ecuadorian shrimp sales to about three mln pounds annually by 1988
31 1986
yugoslavia has reached an agreement with western creditors on refinancing a portion of its 197 billion dollar hard currency debt
they traded at 856 francs on january 9 before the first suspension
creative financial footwork helped ge get the order said nicholas heymann analyst at drexel burnham lambert inc
moodys investors service inc said it may downgrade home shopping network incs 250 mln dlrs of ba 3 senior notes
salant corp qslt 4th qtr nov 29 net
the paper said that regulatory authorities recognize that such arrangements netting may in certain circumstances reduce credit risk furthermore the paper said if a netting agreement could be reached that would withstand legal tests it might be willing to reduce capital requirements accordingly
shr loss five cts vs loss six cts net loss 696777 vs loss 598095 sales 472812 vs 41454 nine mths shr loss 15 cts vs loss 17 cts net loss 2194482 vs loss 1751884 sales 800336 vs 151884
yellow freight system yello 3rd qtr net
among the main factors maturing assistance and take up of treasury bills will drain 545 mln stg and a rise in note circulation 35 mln stg but the outflow will be offset by 490 mln stg exchequer transactions and bankers balances above target 70 mln
there was nobody at british petroleum immediately available for comment
however both types of issue had a drawback he said
the payments to growers would cost an estimated 11 billion dlrs
interfirst corp 1st qtr loss 28 cts vs profit three cts
houston lighting and power co a unit of houston industries inc said it will redeem on may 4 at par plus accrued interest about 140 mln dlrs of first mortgage bonds
last year taiwanese breakers demolished a record 344 vessels totalling 369 million light displacement tons ldt up on 165 of 297 million ldt in 1985 lin chung jung a taiwan shipbreaking industry association tsia spokesman told 
other owners are a new england electric system nes unit with a 25 pct stake and southwestern energy production co with 15 pct
first federal ffbn merging into bankeast benh 
in recent weeks there has been excess liquidity in the spanish economy which if not controlled would threaten the monetary and inflation targets set by the government the statement said
moodys may downgrade chrysler c and units
the issue is underwritten by a management group led by amro algemene bank nederland nv and pierson heldring and pierson nv
tmoc also holds 25 pct of the jackson to moonie oil pipeline 20 pct owned by santos
the company said its cp rail division reported 1986 net income of 1194 mln dlrs compared with 1334 mln dlrs in 1985
borg warner to sell industrial products business for about 240 mln dlrs
shr loss nine cts vs profit 20 cts net loss 257157 vs profit 414890 year shr profit 54 cts vs profit 105 dlrs net profit 1295104 vs profit 2140673
it also said it will have a lower effective tax rate
the company said it is now posting west texas intermediate and west texas sour at 19 dlrs a barrel
the maize harvest advanced to between 20 and 22 pct of the total area planted compared to 13 to 15 pct a week ago
rowntree convertible increased terms set
donald trump to buy crosby resorts rtb stock
twa of course may refile it when it is able to comply with our procedural rules the dot said
morgan stanley said the weyerhaeuser preferred stock will not be redeemable prior to june 15 1989 unless the closing price of the common stock reaches or exceeds 150 pct of the then effective conversion price for at least 20 trading days within 30 consecutive trading days that end within five trading days prior to the notice of redemption
more
republic american rawc plans exchange offer
viacom said it has new national amusements mcv holdings bids
fuller has been named president
many sectors of the trade including large roasters and importers are adamant against voluntary compliance because of the past which was subject to tremendous irregularities as it became a matter of the trade monitoring each other one analyst said
although mark iv has an overall favorable business standing the acquisition would impair earnings and cash flow protection s and p said
traded options need a volatile and liquid futures base to succeed and chairman of the joint formation committee jack patterson said the existing lce cocoa coffee sugar and ipe gas oil contracts should have no difficulty in providing this
coeur dalene mines corp cour 4th qtr loss
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 industrial production rises in february
uk chancellor of the exchequer nigel lawson said he expected british interest rates to fall soon in response to his fiscal 1987 88 budget but he did not say by how much
revenues in the quarter ended march five increased to about 204 mln dlrs from 188 mln in the preceeding quarter and 94 mln dlrs in the year ago quarter
in other areas especially western buenos aires where rainfall was more than 200 mm parts of the sunflower maize and sorghum crops not yet harvested may have been damaged
taunton savings bank tsbko 3rd qtr net
the paris accord stated the six would cooperate closely to foster currency stability around current levels
czarnikows projections in mlns tonnes white value and three differing yields include 87 88 max aver min 1986 87 france 357 342 328 344 w germany 308 288 264 319 ec 1382 1301 1213 1376 w europe 1771 1645 1498 1671 poland 202 180 113 174 ussr 865 760 571 805 e europe 1387 1214 908 1244 all europe 3158 2858 2406 2915
they said they expect more foreign crudes to be sucked into the us market as the benchmark crude west texas intermediate wti trades at around 2030 dlrs
and there is yet no evidence available to the bank to suggest that the fall in share prices has affected the stability of the financial sector the barclays share index fell a record 50475 points to 292526 on tuesday a decline of 147 pct
the bankers said that 12 billion dlrs had been disbursed by the end of 1986 and chinas disbursement record compares very favourably with that of other countries
of last years loans 226 billion dlrs was actually disbursed bringing total disbursements to 2403 billion dlrs
low interest rates also helped the bank
the trade ministry and exchange board are considering the introduction of futures trading later for rubber but one official said a feasibility study was needed first
they recovered to around 18 dlrs a barrel after last decembers opec meeting and brent traded today around 1715 dlrs
five groups are bidding for the company and the government has said it will choose cgcts new owner by the end of april
at end january 1987 the total amount outstanding was 2407 billion stg up from decembers 2377 billion stg and 30 pct above the total three months earlier the department said
but it is wrong he said to attribute the massive trade deficit to a fundmental deterioration of us productivity or of american product quality these areas need to be improved but they are not the root cause of the trade gap problem roderick said
civil service strike delays uk trade figures
carryover holdings from the previous international cocoa agreement in the stock total 100000 tonnes
westcoast wtc to acquire agip properties
baker told the committee that such an approach could worsen their difficulties unless the new financing can be productively absorbed and is consistent with their ability to grow and service debt he said that the debt initiative that bears his name is a long term approach and that further progress will be gradual and will vary among nations depending upon their own determination to implement growth oriented reforms and the continued active support of the international community
he said the company had an ample cashflow of 100 mln guilders and would if necessary make new share issues
holland president of us sprints dallas based southwest division told in an interview that he did not know what it would report for the first quarter but agreed that for the year the company should have about the same results as last year when it lost about 500 mln dlrs he noted the company was slated to spend 23 billion dlrs over two plus years to set up its network
it said the forecast was in its formal offer document sent to hillards plc shareholders today
the highest depreciation was against the swiss franc 853 pct and the lowest against the us dollar 462 pct
today only about 40 pct of customer funds are held on current account
chrysler c unit sells notes at 7 5 8 pct
in 1984 85 the us supplied 41 pct of record soviet grain imports of 555 mln tonnes
the basic meaning for europe is that japanese firms have a tremendous interest in exporting to europe where every unit sold maximises profits in yen terms which is what is important to them
while the foreign trade situation has improved this year foreign exchange restraints persist he said
however it said it had taken the necessary remedial action obtained new business and was now proceeding with the delivery of major delayed orders
the dinar fell by 731 pct against a basket of hard currencies in 1986
shr profit 36 cts vs profit 14 cts net profit 1162000 vs profit 464000 revs 166 mln vs 113 mln nine mths shr loss 89 cts vs loss 79 cts net loss 2988000 vs loss 2673000 revs 351 mln vs 251 mln note nine months fiscal 1987 includes extraordinary gain of 16 cts per share
the constructive way to work in the needed direction would be to reduce our budget deficit year by year paving the way for improvements in our trade accounts he said
a us district court in alabama in 1982 issued a judgment that the bondholders were entitled to all unpaid interest and principal on the bonds totaling 413 mln dlrs
for the first nine months of 1986 the company lost 9476000 dlrs on revenues of 454 mln dlrs compared with a 1784000 dlr profit after the early retirement gain on revenues of 385 mln dlrs
when simex and the sydney futures exchange sfe introduced us treasury bond futures last autumn the sources expected to see fierce rivalry between the two exchanges ending with only one winner in asia
he said the february employment gains are consistent with his firms first quarter us real gross national product growth forecast of 37 pct
terms of the merger called for each share of arrays to be exchange for a share of haba in a transaction valued at 41 mln dlrs the company said
the fed added reserves indirectly via one billion dlrs of customer repurchase agreements last friday 25 billion dlrs on monday and two billion dlrs on wednesday
the debentures have an 11 1 2 pct coupon and were priced at 99
further declines in us debt futures possible
lead manager for the issue bank of tokyo said the deal at the time of pricing was to yield 60 basis points over comparable maturity treasuries
the united states and india have not yet agreed on a food aid package to help the drought stricken asian country agriculture secretary richard lyng said
usf and g corp fg raises quarterly dividend
belgium launching unlimited euro cp program
trade banner 30000 long tons grain usg morocco 1350 dlrs 5000 5000 end april early may comanav
our first problem is to produce enough vehicles to meet the demand calvet said
all london daily prices rose two dlrs a tonne on tone
net amounts reported are before taxes profit sharing and contribution to employee stock ownership trust
the takeover partnership said it has asked to meet with gencorp to negotiate a repeal of the companys poison pill plan
potomac electric power co pom january net
another proposal to allow regulators to grant commercial banks more flexibility in accounting for third world loans has been presented by senator bill bradley a new jersey democrat but did not come up yesterday
each debenture holder will receive the number of whole shares of tiger common stock obtained by dividing the interest payable by 90 pct of the average closing price of the stock from february 18 through march 17
river oaks industries inc said it agreed in principle to give control of the company to benson seizer a new york investor in return for 26 mln dlrs in capital
texas instruments inc txn sets quarterly
completion date of the new mill was undisclosed
the deposit is 400 to 500 yards from the newly designed sunbeam pits has large tonnage and will be drilled off this summer the company said
the 38 mln shares consist of 24 mln class a stock and 14 mln class b shares
essex corp esex year end loss
shr loss 65 cts vs loss 131 dlrs net loss 1366340 vs loss 2148656 revs 2664852 vs 799864
national city corp nctyo 1st qtr net
applied circuit technology inc act said it has agreed in principal to sell its primary computer electronics business to the sanpao group of san francisco
the investor group led by rosewood financial inc said it opposes a company recapitalization plan worked out between comdata and mason best co a texas investment firm which last reported holding about 95 pct of the companys stock
merrill lynch said that following discussions with commercial banks it is confident it can obtain the rest of the financing required to complete the transaction
buehrmann tetterode plans further expansion
ferruzzi may float up to 49 pct of paris unit
zimmer zim boosts credit line by 43 mln dlrs
in addition they said the sale would also worsen the already strained trade relations between the us and japan stemming from the huge japanese surplus
the frame has fewer parts than conventional steel frames ford said
however last month the governments planning bureau said it had revised its 1987 forecast for this to 09 pct from 20 pct
previously the rpi base was january 1974
he said it was early to put figures on possible deals or outline what form joint ventures would take
if the dollar drops to that low level it could reduce the flow of foreign capital into us securities which the americans dont want said haruya uehara chief money market manager of mitsubishi trust and banking corp
the club said it approved of both countries economic and financial programs and would therefore make a contribution to improve their external payments prospects
kraft inc said in its annual report it expects 1987 capital expenditures to be between 250 mln dlrs and 300 mln dlrs
1985 shr and net exclude extraordinary gain of 294859 dlrs or 10 cts share
american federal colorado afsl halves payout
the company has instituted an immediate investigation and both the british and belgian governments are conducting inquiries
the department said the action reduces coverage for sales of dry edible beans to 500000 dlrs and creates the new line of 15 mln dlrs for sales of white corn
the delivery of about 80 mln dlrs worth of plywood in addition to lumber hinges on whether the us department of agriculture will interpret plywood as an agricultural commodity under the credit guarantee program he said
oper shr nil vs profit one ct oper net profit 14000 vs profit 51000 revs 5547000 vs 6021000 six mths oper shr loss nine cts vs profit seven cts oper net loss 383000 vs profit 314000 dlrs revs 931000 dlrs vs 125 mln note 1986 qtr and six mths excludes loss 171000 dlrs and 358000 dlrs respectively for loss from discontinued operations
meston said current ore reserves at the property total 910000 tons grading 0211 ounces of gold per ton and 03 pct copper but it may be able to develop substantially greater tonnage meston said underground drilling below current developed reserves has intersected the main zone 200 feet below the bottom level with the average grade assayed at 0530 ounce of gold per ton over true width of 17 feet
the company said its revenues were down due to lower foreign exchange rates and a change in accounting practice
swiss money market paper yields 3286 pct
us certificates to provide wheat corn supplies
canada southern petroleum ltd 2nd qtr loss
us corn exports seen well ahead of last year
our goal is to find 20 mln barrels a year in the us to replace our production and i think that we can do this at the level we intend to spend blackburn said
shr 32 cts vs 28 cts net 2194000 vs 1929000
uk money market given late help of 210 mln stg
but you can achieve an enormous effect with a small amount if you strike at the right moment he said
financing agreements were reached recently with chile and venezuela an accord with the philippines seems to be close at hand and a deal with argentina on new loans and a debt restructuring could be reached in the next two weeks bankers say
no reason was given for the recent purchases
health and rehabilitation properties trust said it declared its initial dividend of 55 cts per share for the quarter ending march 31 1987
american express cos board of directors monday will discuss the companys arrangement to sell 13 pct of shearson lehman brothers inc to nippon life insurance co a company spokesman said
the conference therefore decided to reinstate the group of five heads of delegation established by the 77th extraordinary meeting of the conference in april 1986 to undertake the necessary contacts with those countries
the non callable bond is available in denominations of 1000 and 10000 canadaian dlrs and will be listed in luxembourg
sci med life systems inc said its directors approved a previously proposed agreement of merger with bristol myers co
in a filing with the securities and exchange commission the group which includes sun equities corp an investment firm said it bought a net 31300 computer memories common shares since march 31 at prices ranging from three to 3 5 16 dlrs a share for capital appreciation the group had earlier abandoned plans to seek control of the company and lowered its stake to less than five pct
monfort is an integrated beef and lamb producer
fleet financial group hopes its proposed merger with norstar bancorp nor ranked as the largest us banking merger can be completed by the beginning of 1988 according to an executive of fleet
the board also took other defensive steps including granting severance agreements to some officers it said
the transfers would allow the country of registration to escort kuwaiti owned ships in the gulf
final terms will be set on april 7
qtr ends dec 31 shr loss 33 cts vs loss 16 cts net loss 5632426 vs loss 2373358 revs 3277976 vs 1535550 avg shrs 169 mln vs 144 mln
but if there are too many constraints placed on a subsidy offer the ussr will take less than an anticipated four mln tonnes he said
shr 18 cts vs 14 cts net 1852000 vs 1488000 revs 447 mln vs 359 mln nine mths shr 41 cts vs 34 cts net 4233000 vs 3512000 revs 1238 mln vs 984 mln note full name is american management systems inc
countries dont get very serious about negotiating until the end of the day which is maybe five or six years in the future he also said he did not consider the new us congress as protectionist as it was 18 months ago
federal reserve board vice chairman manuel johnson said the dollar has stabilized against other currencies after action taken by the fed
henley said it began talks with sante fe after it announced its restructuring program in august 1987
weather hurts italian oranges usda report
authorizations to purchase 50 mln dlrs worth of us wheat and wheat flour under public law 480 were issued to sudan today the agriculture department said
final terms will be fixed on april 9
president leon febres cordero on friday estimated total damage caused by the quake at one billion dlrs and said that as a result ecuador would maintain januarys suspension of interest payments on its foreign commercial bank debt
cyacq said it hopes cyclops shareholders will withdraw previously tendered shares from dixons tender offer to take advantage of cyacqs higher offer the secs order came after cyacq filed suit to block dixons from taking control of cyclops and to force an extension of dixons tender offer
the spokeswoman said the company posted an after tax profit of more than one billion dlrs last year on total revenues of 2046 billion compared to an after tax profit of 118 billion on revenues of 1799 billion in 1985
cable news network is owned by turner broadcasting system tbs
it is our last hope and best opportunity this century
munim said bangladesh feared a further drop in prices for its main export jute which will certainly affect our export earnings in the coming year
shr loss nine cts vs profit 22 cts net loss 278949 vs profit 346368 revs 119 mln vs 104 mln year shr profit 49 cts vs profit 49 cts net profit 12 mln vs profit 949626 revs 617 mln vs 527 mln note1985 net includes loss of three cts or 491 mln dlrs in 4th qtr and loss of 13 cts or 258720 dlrs in year from discontinued operations
it is our last hope and best opportunity this century
the bank of england said it had provided the money market with 37 mln stg assistance in the morning session
venezuelan officials said this amounted to an effective grace period something the banks had refused to grant
the current account surplus amounted to 720 billion rand in 1986 versus 590 mln the previous year
the foreign exchange rate was fixed at 16030 us dlrs to one stg
the stg convertible bond issue launched monday for storehouse plc sthll was raised to 69 mln stg from the original 60 mln co lead swiss bank corp international said
braun and co
shr 487 dlrs vs 221 dlrs net 146 mln vs 6639540 note 1986 net includes gain 2578887 dlrs from chjange in accounting for pension plans and investment gaions of over three mln dlrs
although the senators said baldrige told them no decision would be taken until a final determination is made on whether japanese microchips were dumped in the united states they said they were virtually sure japan would face penalties
usair said the request was hastily pasted together in order to take advantage of a regulatory anamoly that would allow twa to accomplish in a regulated environment actions that would be impermissable in the non regulated economy at large usair called on the transportation department to reject twas request
heinz said oreilly will retain his present titles of president and chief executive officer
oper shr 38 cts vs 32 cts qtly div 12 cts vs 12 cts oper net 5430000 vs 4707000 revs 1691 mln vs 1394 mln year oper shr 150 dlrs vs 132 dlrs oper net 215 mln vs 191 mln revs 6025 mln vs 5244 mln note 1986 operating net in both periods excludes loss 82 mln dlrs or 56 cts a share from discontinued operations
nearly half the respondents said they now have their own dealing team to cope with the new market although the definition of a dealing team was ambiguous the survey said
us producer energy prices rise in february
it said the 7869353 warrants originally offered to cable partners will continue to vest on the pre agreed schedule
bundesbank leaves credit policies unchanged
south korea is under us pressure to reduce its bilateral trade surplus which rose to 74 billion dlrs last year from 43 billion dlrs in 1985
all opec members can make a good case for changing differentials said one analyst with a major oil company
mexico temporarily halts debt equity swaps
reagan said in announcing the sanctions today that i regret that these actions are necessary but that the health and vitality of the us semiconductor industry was essential to american competitiveness in world markets
the december unadjusted surplus was revised down from a provisional 82 billion
the bank added it would take up 300 mln dlrs of 13 week notes at the average yield
the international cocoa organization icco council adjourned after presenting divergent producer and consumer views on buffer stock rules and agreeing to examine a draft compromise proposal on the buffer stock issue tomorrow delegates said
unctads spokesman said once they have agreed on detailed functions and objectives then the way will be cleared to setting up the body
aetna life and casualty co said its aetna life and casualty of canada ltd subsidiary has agreed in prnciple to sell its casualty property subsidiary aetna casualty co of canada to laurentian group of montreal for undisclosed terms
sterling along with the other high yield currencies like the australian dollar and canadian dollar was in favor after traders surmised that the the chance of intervention pursuant to the paris currency accord left limited room for profit plays on dollar mark and dollar yen
they added that the foreign exchange markest seem to seize on anything to use as an excuse to drive the dollar one way or the other
the redemption is pursuant to the optional redemption provisions of the indenture at a price of 111981 pct of part
icco delegates accept principles of buffer stock compromise as negotiation base
however baker and volcker accompanied by deputy secretary of state john whitehead acknowledged there were risks
cool heads will prevail dljs launer said but it may take a while
a member of the government cereals market commission said that as a result of the courts decision the commission would not be able to accept offers from epac in a public tender being held today for the import of 80000 tonnes of corn
swiss to launch new series of money market paper
we dont intend to put pressure on them he added
the cut would be in response to a planned increase in securities transaction tax to 26 yen per 10000 yen from 45 as part of the governments proposed tax reform bills securities house managers said
we are in registration
subject to ministry of international trade and industry approval the exchange will add a sixth session starting at 1700 local time and will close the account for trading at the new session the following day before the opening call starts at 0930 local time an exchange official said
also the agency cut to bbb minus and a 3 from bbb plus and a 2 respectively cds and issues supported by letters of credit from the units mbank dallas and mbank houston
correction heineken 1986 year in item headlined heineken nv heinas 1986 year please read in first line pre tax profit 5132 mln guilders vs 4545 mln
decreased production was a natural result of the company increasing output of one mln bit drams he said
as we said from the start no agreement no one million bags he told 
bra kanon estimated at at least 535 billion cfa francs 176 billion dlrs the overall loss in revenues earned by ivory coast from all its commodities exports this year if the slide on the world markets continues
however traders said there seem to be few buyers around lessening the disruptive impact of the delay
flooded areas total between 12 and 15 mln hectares buenos aires province governor alejandro armendariz said after flying over the flooded area
ccc interest higher in june usda says
burmas green revolution sparked by the introduction of high yield variety paddy strains in the mid 1970s appears to have hit a plateau with production levelling off over the past two years economists said
the toronto globe and mail quoting sources close to the negotiations today said dome broke off talks last night with transcanada pipelines ltd which last week announced a 43 billion canadian dlr offer for all of domes assets
danforth aide austin schlick said the bill was similar to a provision included in a house agriculture committee passed emergency disaster assistance bill scheduled to be taken up by the house tomorrow
alternatives which could be imagined before such as bringing the imf in with us in a loose form are over he said
in the 1986 first quarter the company reported net income of 675 mln dlrs including one time gains from sale of assets or 230 dlrs per share before the stock adjustment
higher import prices due to poor harvests last year in major producing nations such as argentina made feed makers reluctant to use sorghum
the rediscount debt of the banking system fell 800 mln marks to 552 billion marks the bundesbank said
however the congressional budget offices rudolph penner argued that the tax cut in 1981 was misguided
the belg rains are used to plant quick maturing crops like maize and barley
shr profit 15 cts vs profit four cts annual div 72 cts vs 72 cts prior yr net profit 72000 vs profit 16000 revs 7075000 vs 2330000 12 mths shr profit 42 cts vs loss 11 cts net profit 203000 vs loss 55000 revs 161 mln vs 3971000 note annual dividend payable april 10 1987 to stockholders of record on march 27 1987
he said a more important factor was the speed of growth in the us adding its the largest industrial market in the world but he said the company would also be looking at possible acquisitions in europe
the company got through the oil crisis alright said one portfolio manager
the company said the stock was acquired through recent open market purchases and the stake does not require specific disclosure
brazils state oil company petrobras cancelled a 40 mln dlr crude oil purchase from saudi arabia after the saudis refused to accept credit guarantees from the bank of brazil a petrobras official said
he said it was important the government ensure the creation of more jobs was not just a transitory development
beyond options and futures other changes being suggested include replacing the federal governments current bond consortium with an auction procedure similar to one being considered in the uk and already in practice in the us this would upset the existing market order providing german and foreign banks in the consortium with fixed quotas but it would eliminate the misallocations some bankers say presently arise within the fixed consortium quota system
eastman kodak acquires 187 pct interest in enzon inc
last year we embarked on the most dramatic restructuring programme ever attempted by a major south african business and we have largely achieved what we set out to do escom chairman john maree told a news conference
the employers invitation to restart the talks comes on the day a deadline set by minister of social affairs louw de graaf for a resolution of the dispute expires
another 400 billion yen will yield 37991 pct in a 20 day repurchase pact maturing on april 28 they said
the officials and scientists were meeting in tokyo ahead of an international conference on the problem later this month in either vienna or geneva long said
nixdorf expands board to include finance director
bsn said its position is less than the five pct ownership which would require specific disclosure
the company said items to be discussed included price structure and form of consideration
republic savings and loan rsla 3rd qtr net
bally manufacturing corp said it is considering the sale of its six flag theme amusement park unit and would use the proceeds to pay off debt
fw woolworths z 1986 profits rise 21 pct
continental illinois corp said it has raised its prime rate to 7 3 4 from 7 1 2
it will be available in denominations of 1000 dlrs and will listed in luxembourg
the official kamal kharrazi said washington had now become involved in what he called a full fledged war with iran
novatronics makes military specification power supplies and avionics components for various prime government defense contractors
that type of attitude has been a precursor to airline deals in the past said pettee
1985 quarter net includes 1480000 dlr tax credit
the market now expected the us federal reserve to intervene in support of the dollar
united security said it is anticipated that such stock would represent a substantial majority of the shares outstanding after the merger
sales of durable goods rose in february by 88 pct to 4672 billion dlrs after dropping by 177 pct in january
under the agreement concluded last november between waterman owners francine and grace le foyer gomez and alice lundgren and the gillette group gillette agreed to acquire 512 pct of the capital of waterman at 700 francs a share
brazil seamen say strike near end
brazil buys french wheat at tender
the committees consideration of one of the most controversial provisions a plan to force major trade surplus countries to cut their trade imbalance with the united states was deferred until the full house considers the trade bill its sponsor rep
he told reporters after meeting with president suharto that present weakness in the spot oil market was the result of warmer weather in the us and europe which reduced demand for oil
other ec countries have bought large amounts of british grain and for the july 1 march 25 period had taken 259 mln tonnes of wheat and 206 mln tonnes of barley
the office said the issues will be priced and offered for sale tomorrow
the company has slashed its workforce to 47000 from 86000 in 1976
we consider this matter is now closed weinberger said four us destroyers attacked the platform about 120 miles east of bahrain in the central gulf with fire at 0700 edt weinberger said
these operations are not permanently shut down
telex corp said its board has directed management and financial advisor drexel burnham lambert inc to investigate possible alternatives to the tender offer of asher edelmans tlx partners for all telex shares that may include seeking other purchasers for telex
imports rose to 236 billion baht from 225 billion in january
a bid by san miguel corp smc sanmmn to buy back 381 mln sequestered shares from united coconut planters bank ucpb has been hit by two new lawsuits sources in the philippine food and brewery company said
antonio ortiz mena president of the inter american development bank warned that if latin countries were unable to speed up their economic growth then in the long run there would be a default
immingham or foynes red sea 25000 mt bulk barley 4000 3000 10 15 4 alternatively try t c
japan central bank actively buys dollars in tokyo
sudan has not received fresh loans since 1985 and the sources said it was only getting grants at present
the likelihood that the 0 92 provisiion will cause very large acreages to be removed from crop production is quite small the report said
the notes will mature april 2 1992 at par
the taiwan flour mills association will import 81000 tonnes of wheat from canada in calendar 1987 unchanged from the 1986 level an association spokesman told 
analytichem based in harbor city calif is a supplier of bonded phase preparation products used to prepare chemical samples for analysis varian said
sears roebuck and co said retail sales of its merchandise group in march rose 42 pct to 262 billion dlrs from 251 billion dlrs a year ago
ongc produced 2785 mln tonnes of crude in 1986 87 ending march up from 2751 the previous year
asked whether he wanted to see uk interest rates lower he said the two half point cuts this month in banks base lending rates have been appropriate up until now leigh pemberton said he preferred a cautious step by step approach to reducing short term interest rates not least because we have a potential problem with inflation underlying uk inflation was currently around 40 pct one of the highest among industrialised nations he added
the magazine publishes information about emerging technologies and their impact on business
terms were not disclosed
uk intervention board details ec sugar sales
spokesman marlin fitzwater said president reagan had no position on recommendations submitted by energy secretary john herrington to encourage investment in the hard hit domestic oil industry
holdings of federal government securities dropped to 876 mln ringgit in february from 170 billion a month earlier and 230 billion in february 1986
while exports in february fell a half pct against the same month last year imports fell 10 1 2 pct largely due to the drop in prices
asked about participation by other us and european firms watanabe said they will not be core companies but if they wish they could participate under the japanese law total foreign participation would be limited to one third
cook ccf to post loss sell stake
the european investment bank eib issued a 40 mln euroyen issue paying 4 5 8 pct over seven years
it is not just a domestic issue for japan
the proposed european community ec tax on vegetable oils and fats is no longer a major issue on the agenda and the ec commission merely used it as a threat the west german feed stuffs industry association mfi said
city resources will act as operator
stanley works swk makes acquisitions
dealers in frankfurt and zurich saw the dollar remaining broadly entrenched in its current trading range
arco said it is reviewing options for commercialization of the technology
inflation was 83 pct in 1986
although the parent companys capital adequacy ratios exceeded regulatory minimum requirements at the end of 1986 first city said its two largest subsidiaries did not
finland files for 550 mln dlr debt offering
around 300 mln dlrs of the in kind certificates or certs will be mailed out to farmers around march 15 or 16 tom von garlem assistant deputy administrator for usdas state and county operations said
all other terms remain the same
the conference which began monday is widely seen as the final effort to adopt a new international natural rubber agreement inra before the current one expires in october
hungary devalued the forint by a similar amount last september 23
we dont know but we think it more likely to work than any of the alternatives suggested conable who is here to meet government and business leaders expressed confidence that japan will make increasing use of its huge trade surplus to help developing countries
westpac launched the facility early this month at 200 mln dlrs but soon reduced it to 100 mln dlrs and amended the terms due to the markets cool response
dist nine cts vs nine cts prior payable may 14 record april one
the west german intervention board said about 100000 tonnes of sugar have been offered into intervention so far
the us congress is making japan with its enormous worldwide trade surplus the symbol of the us trade crisis and the focus of its efforts to turn around americas record trade deficit
packer who made the sale in january will be a director of bond media
the bank of finland called a news conference at 1200 gmt to announce new measures for the development of the system of monetary control a spokesman for the bank declined to give further details
banks see german growth of at least two pct
the action reduces coverage for sales of protein meals to 14 mln dlrs from 16 mln dlrs and creates new lines of one mln dlrs for tallow and or greases and one mln dlrs for vegetable oils the department said
the statement did not disclose financial details
agreement on the new five year pact which uses a buffer stock to keep prices stable by selling or buying rubber as rates rise or fall was reached at a two week session here under the auspices of the united nations conference on trade and development unctad
similarly when buffer stock purchases or sales amount to 300000 tonnes there would be an automatic adjustment of three pct under the new accord unless the council decides on a higher percentage
the company now has about 55 mln shares outstanding
202 data systems inc toot 1st qtr jan 31 net
just how long the run is is anybodys guess swearingen said
wall street stocks polaroid prd 
the commerce department said it intends to approve export licenses for two firms to sell computers and related equipment to the islamic republic of iran news agency and the iran power generation transmission spokesman b
safeguard scientifics inc said it made a 25 mln dlr equity investment in sanchez computer associates inc a private computer software firm based in malvern pa
the dollar fell over the weekend on increased bearish sentiment after bakers comments said dai ichis tanaka
the consumer price index base 1978 79 was 19573 compared with 18868 in february and 14527 in march 1986
the bonus issue will bring its outstanding capital shares to 6502 mln from 6192 mln as at march 31 1987
ecuador will use a new pipeline link with colombia to export crude oil for the next five years colombian mines and energy minister guillermo perry said
canadian worldwide said it is optimistic the triton petroleum ltd acquisition will strengthen its financial and production base and permit acceleration of its conventional oil exploration program
shr loss 349 dlrs vs loss 15 cts net loss 108 mln vs loss 459000 revs 4384000 vs 2542000 year shr loss 441 dlrs vs loss seven cts net loss 137 mln vs loss 218000 revs 139 mln vs 8864000 note net losses included extraordinary losses of 4904000 in 4th qtr vs 232000 year ago and extraordinary losses for year of 2056000 vs 460000 a year ago
rep
recent strong monetary expansion was not a threat in itself to price stability
louis as well as springfield centralia and decatur ill
concerned by the first quarter downturn the us has been pressing west germany to pump up its economy and boost its imports either through fiscal or monetary policy
alfaro and other industry sources declined to disclose the price at which the sugar was sold
but reid added we shouldnt forget that it has taken one of the biggest stock market crashes in decades to get the west germans to cut their security repurchase rate by a 005 percentage point over the weekend criticism by baker of earlier tightening of west german monetary policy led to a sharp dollar fall and fuelled speculation that the louvre accord was no longer valid
gokce said the only solution would be for compulsory auditing by international accounting companies
the new margin for red bean spot march rises to 150000 yen per 24 tonne lot from 120000 and to 190000 for outstanding contracts as of march 13
the notes will be in bearer form in denominations of 100000 dlrs and will be listed on the stock exchange of singapore ltd chuan hup said
this program is advantageous to the corn users
us projects completed in 1986 included the second acrylic acid plant in freeport texas a technical centre in southfield michigan in which paint lines from automotive plants can be refitted and the new agricultural research centre in research triangle park in durham north carolina
residents in spain can now borrow freely in foreign currency up to the equivalent of 15 billion pesetas against a previous ceiling of 750 mln pesetas
under the existing pact members can borrow from banks to finance inras buffer stock purchases
convinced they are here to stay investment bankers are attempting to adapt mtns for the euromarket
coface suspended its cover for medium and long term export contracts with nigeria in 1983 but maintained its cover for current trade deals involving consumer goods with six month credit periods coface sources said
we dont look at this as indication that the economy is barrelling along the number is not really that problematic for those of us who are constructive on the bond market agreed elliot platt of donaldsen lufkin and jenrette securities corp
indonesia holds general elections on april 23 the first in five years and most businessmen expect no new government economic packages or incentives before then
qtly div three cts vs three cts prior pay may 20 record april 20
consumers and producers mindful of itc buffer stock losses have also sought strict conditions for buffer operations
furthermore he cited reports of greater than normal winterkill in the soviet union
the new cds with maturities of six months one year and two years carry interest rates ranging from 407 pct to 512 pct he said
it will be secured on a property called brettenham house
franklin puerto rico sets monthly payout
but he said in an interview that financial markets also understood that all six countries concluded that the measures to be taken over a period of time in the future should foster stability of exchange rates around current levels
the company also said it has agreed to repurchase up to three mln common shares on the open market
at year end it held 145 mln us dlrs enough to meet all 1987 repayments
he said the markets earlier optimism about opec and its ability to keep production under control have given way to a pessimistic outlook that the organization must address soon if it wishes to regain the initiative in oil prices
it may not even happen the spokeswoman said
however seidman attending the american bankers association convention said he did not expect rates to rise much higher and said the outlook for the us economy and for banking was sound
the total of all crude refined product and spr stocks fell 103 mln barrels to 15648 it said
the most important thing now is ensuring that the accord is working not dealing with a differential of cents between grades but if any opec member raised concerns or objections over the differential system a meeting would be called he said
sumita says bank will intervene if necessary
standard and poors said it upgraded 31 mln dlrs of preferred and preference stock of iowa illinois gas and electric co
zambia mines copper at a relatively expensive rate of 69 cents per pound compared with 55 cents in the united states and under 40 cents in chile
cash market prices also firmed on the news with sellers of wti raising offers to 1960 dlrs a barrel
it said stearns president and controller had resigned
the bonds will yield 725 pct net after tax with interest compounded semi annually
abm gold corp initial public offering of six mln shares of class a common stock at an estimated seven to nine dlrs each through painewebber inc and advest inc
washington post co wpo 3rd qtr net
new rubber pact adopted at geneva conference
the 42125 mln dlrs of 875 pct class j seven bonds due august 2018 are priced at 9925 pct to yield 885 pct
the ministry of international trade and industry miti will revise its long term energy supply demand outlook by august to meet a forecast downtrend in japanese energy demand ministry officials said
great pacific industries inc year net
however 20 days following the acquisition of 20 pct or more of northeasts common shares shares or 20 days following the commencement of a tender offer for 30 pct or more of northeasts shares the rights will become exerciseable and separate rights certificates will be distributed the company said
the barwon statement said a deal is expected to be concluded between barwon and the philippines government in 14 days
ohio mattress co said itr has executed a definitive agreement to acquire sealy mattress co of michigan inc the detroit licensee of ohio mattresss 82 pct owned sealy inc subsidiary in a transaction that also involves a settlement between sealy and michigan sealy
we do believe they will be a better competitor than sears said james stutz executive vice president of home federal savings and loan association hfd based in san diego
foxboro co fox 4th qtr loss
under the new rules the buffer stock manager would seek offers of different origin cocoas using price differentials to reflect different qualities
argyll sells subsidiarys assets for 14 mln stg
the currency has risen about 25 pct in the past three months to its current rate of 2950 cents due partly to signs of a possible power shift with the appearance of a number of independent candidates in the whites only election on may 6 they added
the agency said new management would be challenged to reverse operational problems that hurt profitability and cash flow in the past two years
the company said the recent declines in stock prices have made it unlikely that the transactions could qualify as tax free reorganizations
it said lower than expected levels of new work booked in the last quarter of 1986 and the first two plus months of this year have delayed the expected growth in the engineering and construction area the company said it will remain profitable in 1987 and results should strengthen as the year progresses
abms says us zinc stocks higher in february
investors will pay for the bond on april 8 and the bond pays annual interest on the same day
but for comparison purposes it noted that in january the average value of imports had fallen 15 pct year on year while the average value of exports had declined by only 44 pct
the company was not immediately available to say who had acquired the 54 pct block of stock
us corporate finance s p cut has no effect
marine midland banks inc said in a filing with the securities and exchange commission that it may reclassify as nonperforming 359 mln dlrs of medium and long term loans to brazil
nec owns 15 pct of the company
merrill lynch will be the note and paper dealer and sumitomo trust and banking co ltd will provide the loc
in fact you can argue that s and p is lagging the market commented one trader
de groote also said waste services in fiscal 1987 will represent about 49 pct of revenues school buses will contribute 49 pct and trucking about two pct
no meetings are scheduled and none have been planned between the utility its creditors and the aluminum plant owners
although germany cannot entirely shield itself from the negative effects of the global synchronization of monetary policy it should do all it can to strengthen the forces of growth at home
the chicago missouri is a wholly owned subsidiary of the venango river corp a transportation holding company
the results were broadly in line with market expectations leaving shares at 499p in early trading up one pence from yesterdays close but slightly off pre announcement opening levels
trinidad and tobago is finalizing arrangements with union carbide uk of the united states and snamprogetti of italy for the construction of a 1500 tonnes per day methanol plant energy minister kelvin ramnath said
shell francaises berre letang refinery will shut down in early april until mid june a company spokesman said
the notes have an eight pct coupon and were priced at 99125 to yield 88 basis points over comparable treasuries
terms were not disclosed
paralax video enterprises inc said it signed a definitive agreement to buy american video group inc for stock
an additional 133800 tons of us barley are still available to israel under the export enhancement program announced june 17 1986 it said
time incs chief financial officer thayer bigelow told security analysts the company is comfortable with wall street estimates that 1987 earnings will be in a range of 375 dlrs to 425 dlrs per share
the conference observed the continued fall in the value of the us dollar and agreed that the matter should be studied and reported to the next meeting of the conference the conference discussed the appointment of the secretary general and decided to discuss the matter again in its next ordinary meeting
usda to reduce citrus estimating program
the outlook for 1987 remains at 250 dlrs to three dlrs
the use of tariffs and quotas to reduce the flow of foreign goods into the united states will do little to cut the nations swelling trade deficit a government study said
the estimated 11 mln dlrs year loss or about 50 cts a share compares with earnings of 871000 dlrs or 42 cts a share recorded last year
officials said grain imports rose in 1986 because of a poor harvest and rising domestic demand but remained below exports which rose to 942 mln tonnes from 933 mln in 1985
citizens book value was about 19 mln dlrs at the end of the third quarter according to the banks counsel guy gibson
a total of 620 mln dlrs was originally drawn down under the revolving credit facility on april 29 1986 when national gypsum was acquired by a management led investors group in a leveraged buyout the company said
the company needs the cash to begin paying back a 16 mln dlrs mountain of debt
analysts estimate the unit could be sold for for 300 500 mln dlrs
i think thats the one thing weve got to avoid right now regan also called on the government to impose restrictions on program trading
for the first three years after the notes are issued interest will be paid at emerys option in cash or in additional notes emery said
earlier the company reported fiscal third quarter ended december 31 net income of 23 mln dlrs or 20 cts a share up from fiscal 1985 third quarter results of 563000 dlrs or five cts a share
the company said the terminal will handle leaded and unleaded regular gasolines number two fuel oil ethanol and natural gasoline
non performing loans at quarter end are estimated at 145 billion dlrs or 65 pct of the loan portfolio compared with 928 mln dlrs or 394 pct at the end of 1986
speaking briefly to reporters following an address before the export import bank conable said that the bank had been urging the brazilian government to come up with a specific plan designed to work the country out of its present economic difficulty
the reaction in the metal markets reverberated throughout the commodities markets as grains livestock and cotton posted broad gains
the transfer payments surplus widened to 75 mln dlrs in february from 73 mln in january and 60 mln a year ago
sallie mae slm offers fixed rate notes
offshore investors are eager to see australia take tough economic decisions to curb its 100 billion dlr foreign debt and stubborn current account deficit analysts said
canada plans an auction of three year bonds march 31 and an auction of seven year bonds april 1 the finance department said
in the six months to end september norcros reported a rise in pretax profits to 2014 mln stg from 1855 mln on turnover that lifted to 31182 mln from 30391 mln williams holdings began expanding from 1982 when it had a market capitalisation of around one mln stg
this weeks estimated arrivals total 194000 tonnes of which 45000 are grains oilseeds and 149000 derivatives
there is a one pct selling concession and a 1 2 pct combined underwriting and management fee
to get to the pik level of 60 mln acres we would have to provide more incentives an analyst said
he is theodore cross princeton nj editor of business and society review
shr 33 cts vs 26 cts net 489351 vs 430143 revs 6961091 vs 6009026 avg shrs 15 mln vs 16 mln
in addition to the cost savings involved technology advances now enable alloys of higher purity to be produced by the secondary aluminium industry shearson said
striking seamen said they would offer their collective resignation rather than end their 13 day old national strike on managements terms
south african foreign reserves up sharply
swedish gnp rose less than expected figures show
mediq diagnostic is a limited partnership of which mediq is general partner
butler national corp butl 3rd qtr jan 31
last week beghin say president jean marc vernes said a possible settlement of a row with the ec would lead producers to withdraw their offer which was made as a protest against ec export licensing policies
gros defended brazils recent economic record noting inflation slowed in february the trade surplus rose and the public sector budget was in operational surplus
gmac to launch euro note program april 7
as official washington sought to restore investor confidence after mondays wall street collapse treasury secretary james baker came under fire from critics who claimed he helped to precipitate the crisis
chirac is expected to canvass support for the idea first proposed by french agriculture minister francois guillaume during his two day visit to washington
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
the spin off and the sale of hongkong electric shares will give hutchison a 53 pct stake in cavendish
brazil rejects all offers at wheat tender
the highly visible drama involving the yens sharp rise against the us dollar is obscuring the fact that the japanese currency has hardly budged against major european currencies thus creating a new set of exchange rate distortions japanese and european research officials said
indonesia will build a crude palm oil terminal at a new port on batam island south of singapore research and technology minister yusuf habibie said
the naira has depreciated against the dollar by 62 pct since the auctions known as the second tier foreign exchange market sfem began last september 26
japan sets condition for car plant loan to poland
the cost of certificates said the gao source depends on the programs impact on the usda loan program
while he is recommending gm stock he said results will not improve until 1988
the ec is no more illiberal on trade issues than is the us said martin wolf director of studies at the trade policy research centre in london
diversified industries inc plans to recover more than four mln dlrs from the sale of two marginal subsidiaries chairman ben fixman told the annual meeting
the alligator ridge mine is jointly owned by amselco and nerco a unit of nerco inc ner which is 905 pct owned by pacificorp ppw a portland ore holding company
hanson trust han sells unit
gradually theyre imposing restrictions and the direction is towards complete control the broker said
teva pharmaceutical industries ltd based in israel said it sold its wholly owned promedico subsidiary to foreign investors for four mln dlrs
i would refer you to the paris agreement which was a recognition the currencies were within ranges broadly consistent with economic fundamentals baker told the cable news network in an interview
cmp earned 11 mln canadian dlrs in 1986 and expects to produce 42000 ounces of gold in 1987 at a cost of 160 us dlrs an ounce consolidated tvx said
1985 revenues na because 1986 was initial year of product revenue
salomon said the principal paying agent for the cds would be bankers trust co
the 12 year loan guaranteed by parent company suns enterprise ltd of japan is to be signed by mid april
anheuser busch cos is raising 150 mln dlrs through an offering of sinking fund debentures due 2017 yielding 8593 pct said sole manager dillon read and co inc
the group said it has held talks with the hutton lbo group before and may do so again
proposed offerings recently filed with the sec
us trade representative clayton yeutter said it was all but certain president reagan would go ahead today and impose curbs on japanese exports as planned
philippines confirms prepayments on new debt pact
the managements doing a very fine job in trying to deal with the non strategic assets of the company rose said
share adjusted for stock dividends
ussenate lifts some bans on natural gas
listing will be on all eight west german exchanges
we can handle probably an hour or so down to 25 or 26 degrees fahrenheit krenzler said as long as we dont have a lot of wind if we do get six hours down below 25 degrees id say we have a good chance of significant damage to the heads he said
hostetler is resigning as a director as is chief financial officer gary b
in the northeastern spanish city of saragossa thousands of spanish farmers battled with police during a march to demand a better deal from brussels
unilever unit issues 40 mln australian dlr bond
ecuador gets loan to help repair oil pipeline
1987 year also includes charge 128 mln dlrs from discontinued operations
it said the options range from expanding shearsons capacity to meet international competition to broadening further its access to capital
fed funds hovered at 6 3 4 pct after averaging 680 pct yesterday
last october schlumberger announced the sale of the fairchild stake and said it would take a 200 mln dlrs charge in the fourth quarter from the sale
hawker siddeley canada inc year net
the bank of italy will request banks to insert rules in their statutes to ensure that companies or individuals holding five pct or more of the banks capital are not given privileged treatment with regard to credit allocation and terms
developed countries must seek alternatives to policies that resulted in the transfer of resources and more indebtedness he said
a hearing on the settlement proposal is scheduled for march 27 the merger is subject to court approval of the settlement as well as to other conditions
that spread has narrowed again
tennecos nance also said that some us cities may experience peak day shortages in natural gas supplies next winter because of the industrys reduced deliverability
nova cellular has an accumulated deficit of about 650000 dlrs and had revenues of about 2600000 dlrs for 1986 it said
franklin utilities fund sets payout
the uk s prime minister margaret thatcher us secretary of state george shultz us commerce secretary malcolm baldrige and us trade representative clayton yeutter have all expressed such opposition
other achievements include a major reduction in the states foreign debts and a cut in the state budget deficit to 1411 billion francs last year 25 billion francs below target and down from 1533 billion in 1985
he said the captain of the singapore registered tanker nord pacific reported in a radio message that he had picked up the remaining seven crewmen of the 2223 tonnes dw stefan e together with the body of the dead man
fred bergsten said a new exchange rate system is needed to replace the fixed and flexible exchange rate systems which he said had not worked
officials of both companies estimated their combined efforts could produce originations of 800 mln dlrs and a loan servicing portfolio well over 20 billion dlrs by yearend
the treasury accepted 64 billion dlrs including 18 billion dlrs from the fed and 11 billion dlrs from foreign and international authorities
japan march wholesale prices rise 02 pct 01 pct february drop official
the company said its management and board of directors will consider the proposal but have not set a date to meet
bill sullivan of dean witter reynolds inc said the average monthly gain in non farm jobs in the first quarter was only 237000 compared with 254000 in the fourth quarter of 1986
president reagan and most congressmen have previously ruled out a tax on foreign oil as a way to curb imports and to help the depressed domestic oil industry
by separating the execution of wholesale trades from the heavy volume of smaller lots large scale transactions will be facilitated the company said
proposed government regulations to allow canadian banks trusts insurance and securities dealers full participation in one anothers actitivies will mean more domestic competition for royal trust but not drastically more cornelissen said
it said its us subsidiary chene investments inc bought 255 mln common shares from the controlling davis family yesterday at 30 dlrs a share for 765 mln dlrs lifting its stake to 494 pct
australian car sales fell to 530000 in 1985 from 696000 in 1985 although mmal said it lifted its market penetration to 121 pct from 115 pct
in an article headlined gulf oil sources say middle east production up 14 mln bpd it warned opecs official prices could face fresh pressure from international oil companies seeking cheaper supplies
allegis said then that it would borrow three billion dlrs and pay shareholders a dividend of 60 dlrs per share lowering the companys net worth
the banks 615 pct subsidiary hang seng bank ltd hsghhk is to report its 1986 results on friday
baglini who was recently observing negotiations with the steering committee for argentinas creditor banks in new york spoke to reporters in mendoza 600 miles west of buenos aires
philippines criticises ec for vegetable oil levy
goldman sachs and co bps investment advisor advised the shell oil board in 1984 and 1985
i feel like if we didnt expand production we could probably hold where we are indefinitely or at least through the 1985 farm bill without any changes in the sugar program huckaby said
but despite indias new drive countertrade has some inherent problems they added
they called for stricter sanctions to stop all norwegian shipping to south africa
baker said the transaction is subject to approval by the justice department and the boards of baker hughes and trico
the figures cover around 95 pct of rotterdam traffic in the products concerned
the requests were limited to alaskan entities because the purpose of privatization of the administration was to put the local utility into the hands of a local body the doe said
k mart chairman bernard fauber said the success of these programs is better illustrated by the strong 359 pct increase in 1986 income from continuing operations before income taxes to 103 billion dlrs the first time k mart corp has reached this milestone sales for the 1986 fiscal year reached a record 238 billion dlrs an 81 pct rise from 2204 billion dlrs the prior year
eia says distillates off 76 mln bbls gasoline off 34 mln crude off 44 mln
the amsterdam unit of french bank societe generale said it is launching a 50 mln guilder five month certificate of deposit programme starting march 6 and ending september 7
still the split within the banks ranks came as a shock
the raid killed eight workers and destroyed the main living quarters and a bridge linking a wellhead to the main production platform
he said zimbabwean veterinary officials had notified him that they suspected foot and mouth disease had broken out at insiza 100 km northeast of bulawayo capital of the mainly cattle ranching southwestern province of matabeleland
dreyers grand ice cream said it has restated its previously reported fourth quarter loss to 904000 dlrs or 13 cts per share because it has now decided to take a charge of about 700000 dlrs to provide for losses of midwest distributing co which was acquired december 30
johsen takahashi chief economist at mitsubishi research institute said the 144 pct increase in public sector spending in oct dec resulted from an issue of gold coins
japanese purchases of chinese soybeans including spot buying may have totalled 240000 to 250000 tonnes of the 1986 crop for november to april 1987 shipment down from some 300000 tonnes the previous year the sources said
the new agreement replaces a rescheduling accord signed in february 1986 which venezuela asked to revise to reflect a 45 pct drop in oil revenues
we are certainly happy with the transaction
in that case quotas could come into force during the summer
in other industrial sectors mining production fell four pct and construction output 4 1 2 pct
so far this coffee year kenya has sold 918707 bags to all markets of which 326182 are for the 1986 7 pool with an overall average price of 41500 shillings a tonne it added
turkish sugar factories said in the advertisement there was a 50 pct option to increase or decrease the amount and bids should reach it before march 24
deposits by non banks rose more than 40 pct to a total of 11 billion
ackerly communications inc year loss
but a rare public row between the ebullient poehl president of the bundesbank and stoltenberg over a controversial investment tax proposal has added to the woes of the countrys already nervous financial markets bankers said
nspa also said us soybean meal exports in the week were 70351 tonnes vs 135452 tonnes a week ago and compared with 76065 tonnes in the year ago week
europes 12 mln farmers are furious over plans by the european commission to cut subsidised prices and severely limit farmers automatic right to sell unwanted food into public stores at high guaranteed ec prices
qtly div 69 cts vs 69 cts prior payable may one record april 10
group lifts airlease fly stake to 151 pct
german cash in circulation up at februarys close
he said there were risks in the atpc plan to cut exports but added he was confident the goals set by the plan would be achieved
the bank of spain which only yesterday raised its key overnight call money rate to 135 pct left it unchanged at todays auction
poehl warns against further dollar fall
a lot will depend on spring weather not only for the outcome of the troubled winter grain crop but also for spring planting martell said the dry weather conditions last fall probably prevented optimal seed germination for winter grains
besides many participants had already shied away from bank issues following brazils suspension of interest payments last month traders added
specialty businesses do not stay special long houston based cain chemical created this month by the sterling investment banking group believes it can generate 700 mln dlrs in annual sales by bucking the industry trend
there will be a call from 90 days after payment at 106 declining by one pct per annum to par but not before march 26 1992 unless the share price is 130 pct of the conversion price
tie communications tie renews agreements
anderson said
shr 18 cts vs 16 cts net 348298 vs 308927 sales 4166750 vs 3740970 year shr 72 cts vs 52 cts net 1409867 vs 1020096 sales 165 mln vs 150 mln avg shrs 1974529 vs 1956214
columbia gas system inc said that on june 1 it will redeem 14 mln dlrs principal amount of its 9 7 8 pct debentures series due june 1999 to meet mandatory sinking fund requirements
parent company net profit 191 mln vs 1509 mln
he said the investment needed to fuel this growth can come partly from structural economic reforms at home but this alone will not be enough
sri lankan minister seeks loan facility from imf
dutch economic growth is slowing as a firming guilder cuts competitiveness abroad and industries reduce the pace of investment the dutch official planning agency cpb said
we do not want protectionism we do not want a trade war he said
the sources said the loan agreed upon in principle last september during a visit to the united states by president corazon aquino had been held up by philippine government delays in fulfilling key conditions
house lawmakers noted that in 1985 the united states took steps to reduce loan rates committee staff said
it said the major part of the turnaround reflected an injection of funds estimated at around 700 mln dlrs associated with the previously reported restructuring of the australian operations of general motors corp gm gm used the funds to pay out or take over certain australian liabilities of its local unit general motors holdens ltd it said
in line with that decrease californias crude oil output fell about 10 pct last year due to low oil prices and is expected to remain at that lower level analysts said
rationalisation measures taken by manufacturing industries to cope with the yens sharp rise are beginning to brighten their business outlook the institute said
domestic demand contributed 05 percentage point to real gnp growth in october december while foreign trade added 02 the figures do not tally exactly due to rounding
dollar eurobonds end easier on prime rate rises
the long term wheat production target is for some 17 mln tonnes by mid 1993 taking into account pakistans annual population growth rate of more than three pct
united cos financial corp uncf 4th qtr net
the bonus of 4005 dlrs per tonne was made to peavey company and will be paid in the form of commodities from the ccc inventory it said
the chronicle has a daily circulation of over 425000 and is in competition with the houston post owned by the toronto sun publishing corp with a circulation of about 316000
current qtr after tax provision of 452000 dlrs
existing us tax loss carryforward benefits in the us are not materially affected the company said
the negotiations resume in new york on friday when central bank governor francisco gros is expected to ask banks for a 90 day rollover of some 95 billion dlrs of term debt that matures on april 15
asked if japan was not living up to commitments made last month to trading partners he said recent figures showed japans economy grew by about 05 pct in the fourth quarter of 1986 not enough to sustain employment growth however sprinkel said japan had not reneged on its pledges and was moving toward more stimulative policies including tax reform
to contain such a currency crisis dollar interest rates would have to soar bringing recession and a third world debt crisis it said
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
us treasurys baker opposes tax increase
intermark inc said it plans to offer 40 mln dlrs in new debt to finance the repurchase of high interest notes and that it agreed to sell two units
gac liquidating trust gactz sets cash payout
we believe that the equity market has much more upside potential than the bond market the executive said
solomon said the dollar must fall further to compensate for the huge interest payments required on us foreign debt
makoto kuroda vice minister of japans ministry of international trade and industry miti is to hold two days of meetings with the deputy us trade representative michael smith and the under secretary of commerce bruce smart
you must open these mechanisms he said
but if they hold out there will be no problem and im beginning to trust their ability nigerian oil minister and opec president rilwanu lukman told a news conference in lagos yesterday nigeria and all member countries of opec remain determined to uphold the december agreement by adhering strictly to their various quotas and official selling prices he said opec believed consumers had drawn heavily on stocks of both crude oil and refined products reducing them to levels well below this time last year
disclosed shareholders funds 365 mln vs 286 mln disclosed capital resources available 626 mln vs 467 mln
for 1986 the company had revenues of 983 mln dlrs
tel a data serves about 50 bank and thrift institutions through a processing center in lombard illinois
the spokesman declined comment on the outcome of the board meeting saying the dispute was under arbitration
dillard department stores inc based in little rock ark and allied stores corp jointly said they entered a definitive purchase agreement for the sale to dillard of the joskes and the cain sloan divisions of allied for 255 mln dlrs cash subject to certain closing adjustments
nicaragua romania paraguay lose trade rights
shr loss 24 cts vs loss 19 cts net loss 751900 vs loss 569000 revs 497500 vs 811400 year shr loss 113 dlrs vs loss 70 cts net loss 3472700 vs 1990300 revs 2484100 vs 2498300
the rise in oil prices over the past week has been largely media induced singer said
us senate passes housing bill
texaco inc tx 841 mln dlr defense contract
a white house ordered report said that growing us reliance on foreign oil into the year 2000 could have potentially damaging implications for national security
if buffer stock purchases or sales reach 300000 tonnes the reference price will be lowered or raised by three pct unless the council decides on a higher percentage
siemens already owns the remaining 35 pct of tel plus
if we can find a way to come to terms with japan over trade problems we can manage our difficulties with other countries the west virginia democrat said at a senate finance committee hearing on the trade bill
bullish predictions on the uk s general economic health were also expected to boost foreign interest in eurosterling
we have to know what they have and how that relates to what we need in total he said
ccc guarantees to iraq switched usda
he said opec had expected to see some fluctuations in the spot price
new jersey resources njr to offer shares
imports totalled 14126 billion escudos and exports 10761 billion compared with 13265 billion and 9717 billion in 1985
it also said that lanesborough is making a major investment in a venture with extremely high financial risk
in addition david clarke the president of another hanson trust subsidiary hanson industries will be named chairman of international proteinss executive committee upon his election to the board at the annual meeting
drought may reduce zimbabwe coffee output growers
news corp ltd of australia said it has started its previously announced tender offer for all shares of harper and row publishers inc at 65 dlrs per share
economists estimate gross domestic product fell 10 pct last year and 86 pct in 1985
they say it would not only curb the growth of oils and fats production and prevent imports from filling any vaccum left by a fall in ec output but would also save the ec some two billion european currency units over two billion dlrs in farm costs
1986 and 1985 4th qtr per share amounts are reported after paying 7292000 dlrs and 9333000 dlrs respectively for preferred stock dividends
temperatures tonight in most of texas are expected to drop to freezing to the low 20s although the lower rio grande valley may see more moderate readings in the middle 30s according to meteorologists at accu weather inc
shr 146 dlrs vs 66 cts net 1514312 vs 714670 sales 621 mln vs 572 mln
some institutions are reportedly concerned about recent events in china including a drive by the chinese media against bourgeois liberalism an official of state owned china international trust and investment corp which has raised funds in hong kong tokyo and frankfurt declined comment on the court decision
seal inc said it acquired ademco ltd a united kingdom company which distributes mounting and laminating equipment and supplies for a combination of cash and stock valued at 26 mln dlrs based on current exchange rates
the three year notes have a 7 1 4 pct coupon and were priced at 99682 to yield 737 pct or 52 basis points over comparable treasury securities
for the 12 months ended march 1987 the cpi rose 183 pct against 182 pct in 12 months ended december 1986 and 130 pct in the 12 months ended march 1986 it said in a statement
the ec steel industry has already shed 240000 jobs this decade while reducing annual capacity by 31 mln tonnes
canadian bond rating service said it placed chrysler credit canada ltd a subsidiary of chrysler corp c on creditwatch until all financial details concerning the proposed acquisition of american motors corp amo are finalized
most debt in the region is still raised by syndicated loans and bank facilities and very few companies had made use of stock or bond issues
if it hadnt been for him the world would look a lot different now he said
the soviets also secured a 34000 tonner from gibraltar for a trans atlantic round trip at 4500 dlrs daily and a 61000 tonner for similar business at 6750 dlrs daily
hot dry weather during part of january and excessive rains in some areas in february reduced yield prospects and may have affected quality the report said
shr profit three cts vs loss three cts net profit 363000 vs loss 197000 revs 3761000 vs 2666000 year shr profit one cent vs loss 37 cts net profit 129000 vs loss 1715000 revs 114 mln vs 109 mln avg shrs 10694081 vs 4673253
the rise in february real earnings resulted from a 05 pct increase in average hourly earnings and a 06 pct increase in average weekly hours
our greatest danger is overreaction miller told newspaper reporters yesterday
isuzu motors ltd isumt six months to april 30
milton roy co mrc sets quarterly
cambridge said it would use proceeds to significantly reduce short term debt
he said the issue was meant to boost capital ahead of new investments
kaneb energy partners ltd said it may be forced to omit or lower future quarterly cash distributions because of a contract dispute with two major customers and the continued slump in oil and gas prices
zambia will reintroduce a modified foreign exchange auction at the end of this month as part of a new two tier exchange rate central bank governor leonard chivuno said
agriculture minister mutsuki kato has said if the us insists japan open its protected rice market it will also open its wheat market where volume and origin are regulated to protect local farmers
lyng says too late for crop decoupling this year
esso singapore pte ltd will lower the pump price of its premium 97 octane petrol price to 968 cents litre from 97 cents effective midnight tonight a spokeswoman said
brazils seamen are the second worst paid in the world after ghanas dos santos said
the minister said that he had proposed a four year plan to the creditors which would include a rescaling of the commitments derived from its debt
niedermeyer spent two weeks in baghdad negotiating the sale late last month and early march
opec production curbs have boosted world oil prices from a 13 year low of around eight dlrs a barrel last august to near 18 dlrs after announcement of the december pact
sorghum producers deficiency payment rate will be 60 cents per bushel based on the difference between the 288 dlrs per bushel target price and the 228 dlrs per bushel basic loan rate
dh holmes co ltd hlme sets payout
the us agriculture department said an estimated 8700 head of dairy cattle were slaughtered during the week ending march 13 as a result of the whole herd dairy buyout program
at the time the company said it authorized its adviser goldman sachs and co to explore other takeover proposals and to supply financial data to other interested bidders
cuba tells traders sugar exports may be delayed
merrill lynch said it would continue operating borg warner as a subsidiary with its current officers keeping their positions
moto photo inc moto 4th qtr net
the rate at which permits were issued for future construction fell 06 pct in september to a seasonally adjusted 1493000 units from 1502000 units in august
national beverage corp said it agreed to acquire faygo beverages inc for an undisclosed amount of cash
lynch corp said it will offer 1050 dlrs a share in cash 450 dlrs in subordinated debentures and a 1 4 share in a new company for each becor western inc share outstanding
usda said unlikely to broaden corn bonus offer
the sources speaking separately said poehl told about 200 bankers in reply to questions that a cut in us interest rates would give room for a matching measure in germany
oper shr 45 cts vs 26 cts oper net 2258000 vs 1166000 note 1986 net excludes 842000 dlr tax credit
the rumor also was accompanied by talk the financial services firm would split its stock and boost its dividend
the increase in base rates was instead limited then to one point
the major deficiency in the governments anti inflation policies was reliance on high interest and exchange rates and insufficient emphasis on reducing the budget deficit bayliss said
london floating rate note prices open sharply lower dealers say
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 sources said only one japanese company had paid the official price for iranian oil
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
central bank governor arifin siregar said earlier this week that indonesia could look forward to better economic prospects in 1987 88 but added the speculators who led a run on the rupiah late last year could again pose problems
year ago restated
perus reserves fell sharply due to a drop in the trade surplus to about five mln dlrs in 1986 from 11 billion in 1985 according to preliminary central bank estimates
because its novel financing deal sold quickly last week general motors corps gm general motors acceptance corp unit plans to do more multi tiered financings said michael mangan of gmac
the unadjusted deficit on invisibles was 234 mln dlrs against 158 mln dlrs revised from 168 mln dlrs in march and 231 mln dlrs in april 1986
it did not specify arthurs jones 1986 revenues
rains promise bountiful crops in ethiopia
the announcement of the bid pushed williams share price down to 733p from last nights close at 750p
allegheny international inc said sunter acquisititon corp formed by first boston inc began a cash tender offer in accordance with their previously announced merger agreement for all the outsanding shares of alleghenys common stock 219 dlr cumulative preference stock and 1125 dlrs convertible preferred stock
many economists believe that long run stability will not return to the markets until the root cause of the trade gap is addressed excessive consumption in the us reflected in the massive budget deficit
at the same time simon said us oil production declined by 300000 bpd the first decline in several years and net petroleum imports were up 25 pct to 53 mln bpd noting that while oil prices were expected to remain between 13 and 20 dlrs a barrel depending on opecs ability to control production simon said demand is expected to remain at 1986 levels leading to a significant amount of spare worldwide production capacity in excess of 10 mln bpd he said the surplus capacity would lead to continued volatility and called for governmental and regulatory policies in support of the domestic petroleum industry citing the costs recently imposed by the federal government through the 1986 tax code changes and superfund legislation simon called for the repeal of the windfall profits tax total decontrol of natural gas and improved access to federal lands for oil and gas exploration
this is clearly not the case with texaco said one trader
the selling concession is 1 1 4 pct while management and underwriting combined pays 3 4 pct
canadas state run export development corp said it arranged a 15 billion yen offering of 4 1 2 pct notes due aug 28 1992 its first euro yen offering
the us has also asked the general agreement on tariffs and trade to investigate the legality of japanese import controls on 12 other farm products including fruit juices purees and pulp tomato juice ketchup and sauce peanuts prepared beef products and miscellaneous beans
st lawrence seaway opens shipping season
dealers will be chase investment bank ltd citicorp investment bank ltd salomon brothers international ltd swiss bank corp international ltd and first chicago
the department said the bonus awarded was 150500 dlrs per head and was made to brown swiss enterprises inc
it bought 21 mln stg of bank bills outright 20 mln in band one at 10 3 8 pct and one mln in band two at 10 5 16 pct
earnings per share are reported after payment of preferred stock dividends of subsidiaries
dauphin deposit dapn to make acquisition
on the us west coast netback values for ans cif la also jumped sharply up 40 cts a barrel or 22 pct to 1882 dlrs on higher gasoline prices
current quarter tax rate of 275 pct benefited from wisconsin department of revenue decision the company said
samudio said new plans had been designed and hoped they would be effective
non official capital and balancing item showed a 36 mln dlr deficit against a 133 billion deficit in january and a 392 mln surplus in february 1986 the bureau said
the notes have a 6 7 8 pct coupon and were priced at 9980 to yield 47 basis points more than comparable treasury securities
the funds will be raised through the issue of up to 116 mln ordinary sedgwick shares to the vendors of bsi by no later than 31 january 1991
1985 oper net also excludes 2778000 or 52 cts per share for adoption of new pension accounting rules and ine cts per share for gain from assets sales
eldorado bancorp eldb sets 10 pct dividend
on september 8 the group offered 6400 dlrs in cash and 250 dlrs principal amount of 15 pct junior subordinated debentures due 2007 for each gaf share
on exports china should increase its proportion of manufactured goods especially textiles light industrial goods electronics and machinery he said
rite aid corp rad sets dividend
the department which makes cryogenic equipment will continue operating at its present location in allentown pa the company said
ef hutton group inc shares rose on speculation the company would receive a takeover offer traders said
contractual volumes assume no production ceiling
it said the notes are to be redeemed april 20 at a price equal to 100 pct of the principal amount of the notes plus accrued interest
the new schedule will feature three daily flights from san antonio to las vegas including one nonstop one direct and one connecting flight via los angeles
schleswig holstein issues 400 mln mark bond
shr profit 10 cts vs loss seven cts net profit 286870 vs loss 156124 revs 100 mln vs 7577207 year shr profit five cts vs profit 42 cts net profit 160109 vs profit 906034 revs 381 mln vs 312 mln avg shrs 29 mln vs 22 mln note 1986 year includes 53 weeks
the governments reduced need to tap the gilt edged markets will create a perennial shortage of stock maintaining upward pressure on prices a sterling bond dealer commented
if more are tendered they would receive 29 dlrs in cash and six dlrs in debentures and a warrant to buy stock in the new company in exchange for each share
halcyon said it bought the stake for 261 mln dlrs as part of its ordinary risk arbitrage and securities trading business
the number of workers employed in the west german industrial sector stagnated in the last quarter of 1986 as a 50000 increase in overall employment benefited only the services branch the diw economic institute said
cooper canada ltd year net
shr profit eight cts vs loss 16 cts net profit 153000 vs loss 310000 sales 3937000 vs 2364000 nine mths shr profit five cts vs loss 53 cts net profit 97000 vs loss 1042000 sales 102 mln vs 7564000
the current practice of filing tax redemption claims is time consuming they said
were comfortable with adjustment lending we expect however that it will never reach a majority of our portfolio conable said
several bahrain banks had been lending in the fixed periods and borrowing in the short dates but today they found the day to day money in short supply dealers said
international multifoods corp said it filed a suit charging bregman partners and its affiliates unlawfully planned to acquire control of the company
partners call gencorp gy response unproductive
it said the liu hua 11 1 1 a well produced at around 2240 barrels per day at a depth of 305 metres
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
unilever seeks buyer for stauffer chemical
the harvest will be chinas second highest in history but poor weather and low incentives for grain producing farmers have kept yields down earlier chinese press reports said
if that article were invoked gatt would set up a panel to consider the legality of the us action
transportation department dismisses twa application for usair control
about 486 mln dlrs if affected
the manila stock exchange composite index plunged 10549 points or 1179 pct by the midday close to 78954 depressed by the record 508 point fall of the dow jones industrial average on monday
they said sri lankas food department subsequently made a counter offer to five us firms to buy wheat at 85 us dlrs caf for april 8 16 delivery
the venezuelan state aluminum company venalum is negotiating a total of 1239 mln dlr in credits from abroad for a planned expansion of production faciities finance minister manuel azpurua said
payment date is april 24 and there will be a long first coupon
the government which published the january unemployment figures today did not make any predictions
royals long term senior debt was downgraded to a plus high from a plus plus and 160 billion dlrs of subordinated debentures to a plus from a plus plus low bank of montreals senior long term debt rating fell to a plus high from a plus plus low and 146 billion dlrs of subordinated debentures to a plus low from a plus
in february the cost of living increased 73 pct from january and stood 936 pct higher than in february 1986
wedge stressed that it has no current plans to seek control of ami but refused to rule out a takeover try in the future
mobex completes grant industries gtx tender
the issue is non callable for life and rated baa 1 by moodys investors service inc and bbb plus by standard and poors corp
rayrock said it expects to complete the note sale on april nine
first sarasota bancorp said its shareholders approved the acquisition of its city commercial bank subsidiary by first union corps func first union national bank of florida
quantech qant says three directors resign levittown ny april 1 quantech electronics corp said leonard n
akzo planning us investments
moss rosenberg verft of stavanger has been awarded a contract to convert the the drilling platform west vision to a floating production platform
the company said it is also in the process of reducing its office space in four of its six offices nationwide
china india and south korea have increased output while the middle east and africa have doubled imports since the mid 1970s the report said
decoupling delinking planting decisions from government payments is too much of a policy change to approve at this point he said
french reserves fell in the week ended march 19 following repayment of the bulk of the debt contracted during january with the european monetary cooperation fund the bank of france said in its weekly statement
fleet to acquire assets of mark iv iv unit
brazilian bank workers voted to launch a nationwide strike this month compounding labour unrest arising from the failure of the governments anti inflation plan
both issues were rated a 1 by moodys and a by s and p
earlier santa fes stock was up 4 7 8 to 41 before slipping to be up 1 7 8 at 38
japanese groups urge drastic economic package
preussag cut its 1985 dividend to eight marks from nine marks on 1984 results after parent company net profit dropped to 650 mln marks from 1030 mln the year before
pesch said he has discussed his sweetened 191 billion dlr takeover bid for american medical with several large shareholders including the biggest investor the bass family of texas
the french government which owns cgct had asked siemens at the start of 1986 to submit an offer for the stake in cgct
the asian development bank adb said it had approved two loans amounting to 757 mln dollars for agricultural projects in bangladesh and nepal
proceeds will be used to reduce short term debt
in band two the bank bought 72 mln stg at 9 13 16 pct in band three 52 mln at 9 3 4 pct and in band four 46 mln at 9 11 16 pct
the withholding scheme can only be used if prices fall below the 1600 sdr lower intervention price for more than five days and if 80 pct of the maximum buffer stock capacity has been filled or if the buffer stock runs low on funds it says
gencorp to sell los angeles television station to walt disney co
southern so to take charge on vogtle cost
in a clear reference recent events he said those in the city who act for companies or individuals must i suggest be ready to accept a full measure of responsibility even if it entails opprobrium for the transactions that may result they should exercise the most careful judgment at the outset with respect to the clients for whom they act and the activities contenplated
however the sources said they expect the ibc to adopt a marketing strategy aimed at regaining brazils dominant position as an exporter but without causing a price war
wallin said he sees medtronics share of the total worldwide pacemaker market increasing to 42 pct in fiscal 1988 from 40 pct in fiscal 1987
bankers trust bt files 400 mln dlr offering
it also said shareholders approved the merger of morning star mine interests held by six corporations in exchange for issuing 2098602 shares of its common
mthly div 14 1 2 cts vs 14 1 2 cts prior pay july one record june 17
an investment group led by audio video affiliates inc said it raised its tender offer to acquire cyclops corp to 9250 dlrs a share from 80 dlrs a share
baird also confirmed that a takeover defense plan it already has which is triggered by the accumulation of more than 25 pct of its stock would not be triggered by a tender offer mark iv said
the united states department of agriculture estimated live poultry slaughter for the week ending april 1 as follows in thousands current previous class week week bro fry 92552 95563 lt fowl 2840 3354 hvy fowl 651 789 check total 96043 99706
but he said that even if all obstacles were removed total trade between the two countries would remain between two and three billion dlrs a year
south africa recorded annualised real growth in gdp of 325 pct in the first quarter of this year and the economy should achieve the governments target of three pct growth for 1987 the reserve bank said
lichtblau also called for the federal government to offer tax abatements for oil drilling to fill the strategic petroleum reserve at a faster rate and to develop pilot plans for alternative energy
these actions reflected security pacifics continued high levels of nonperforming assets and charge offs s and p said
the saudis had put similar conditions on a previous shipment he added
sales for all of 1987 are expected to rise about 55 pct to six pct up a bit from 1986s rise
the management board of the bank would also propose two capital measures to shareholders in order to be able to react quickly to new challenges
the years average will be around 172 dlrs a lb compared with 176 dlrs in 1986 using london metal exchange cash metal prices in dollar terms and assuming an average 1987 sterling exchange rate of 155 dlrs
time said after the redemption date interest on the notes will cease to accrue and any coupons attached to the notes maturing subsequent to the redemption date will be void
this compares with 1229 mln stg pretax profits and a net 81 mln on property sales the previous year
but the move is a further indication of the strains that have developed between mexico and the banks because of the difficulty of syndicating the huge loan bankers said
ralph bunche a vice president of morgan stanley international predicted at a recent euromoney conference on mtns here that they will become the predominant instrument for raising funds in the late 1980s and 1990s
association president edward obrien said the group acted out of concern over the ad hoc restructuring of corporate america on wall street and investor fears about insider trading and fairness in the marketplace
on march one purolator agreed to a 35 dlr a share leveraged buyout by eight purolator executives and ef hutton lbo inc a unit of ef hutton group inc
smith and other oil industry analyst and economists believe the trend in foreign investments will continue in 1987 because of the fall in value of the us dollar the perception that oil prices have hit bottom and the fact that it is cheaper to buy new reserves than to explore for them
oper shr loss 20 cts vs loss 81 cts oper net loss 1042000 vs loss 4077000 revs 385 mln vs 503 mln 12 mths oper shr loss six cts vs loss 43 cts oper net loss 336000 vs loss 2176000 revs 1378 mln vs 2091 mln note in item moved march 23 company corrects its error to show loss for current 12 mths and qtr not profit
southmark sm to offer special dividend
dealers in oil markets were now waiting to see if opec was able to control production or whether the days of cheating and producing over quotas has begun anew it reported
the bonds will be in denominations of 1000 and 5000 guilders
greece repeats it can decide on aegean drilling
underwriters will receive a fee of 15 basis points on the available portion of the facility and a fee of 10 basis points on the unavailable portion which could be for up to half the facility
the project costing 523 billion taiwan dlrs will be completed by april 1988 two months ahead of the targetted date he said
no intervention dollar fixed at 18218 marks
however approval this year is in doubt because passage of a major trade bill without specific protections for textiles showed a weakening of support for the legislation
although most industry experts expect just a reaffirmation of the december agreement oil prices continue to climb due to a desire to hedge positions in case of any surprises
fiscal 1985 ended september 30 while fiscal 1986 ended november 30
continued suspension of interest payments on the medium and long term debt could result in such loans being classified as nonperforming and placed on nonaccrual it said
oper shr profit six cts vs loss 20 cts oper net profit 734000 vs loss 2312000 revs 168 mln vs 139 mln year oper shr profit 30 cts vs profit three cts oper net profit 33420000 vs profit 318000 revs 675 mln vs 526 mln note excludes loss of 41000 dlrs or nil vs gain 7000 dlrs or nil in qtr and gain 247000 dlrs or two cts vs gain 88000 dlrs or one ct in year from net operating loss carryforwards
he said there was a debate in australia as to whether the middle east market for livestock which accounts for two thirds of meat export value to the area would be maintained
baka said he stressed poland would meet its financial obligations to the us but not in a short time and not without major changes in the polish economy as well as a cooperative stand on the part of its foreign economic partners since poland rejoined the imf last june after a 36 year absence imf and world bank teams have visited warsaw on fact finding missions on at least three occasions
it said james mitchell william richardson and steven duin have resigned as officers and directors
key us house panel finishes major trade bill
shr 84 cts vs 80 cts net 82416000 vs 67819000 revs 7039 mln vs 7597 mln avg shrs 98369307 vs 84807498 loans 1906 billion vs 1951 billion deposits 2160 billion vs 1986 billion assets 2716 billion vs 2715 billion note prior qtr per shr figure adjusted for three for one stock split of may 1986
the buyback and the restructuring were triggered in november after companies controlled by ronald perelman chairman of revlon group inc rev acquired about 76 pct of cpcs then outstanding stock
he said the ec needed a set of indicators of economic convergence betwen community countries and it was important that interest rates fulfilled this role together with exchange rates and inflation rates
chemical bank and marine midland banks inc said they are cutting their prime lending rate to 9 1 4 pct from 9 3 4 pct reversing an increase that they announced just last week
the bank of japan will keep a close watch on exchange rates in line with the paris accord he added
they say the countrys consumers who have been spending at a torrid pace in recent years will sharply curtail outlays this year and this should help curtail the flow of imports into the country
liberty said it feels that the price of 48 dlrs in cash per share is attractive and that it has advised by shearson lehman brothers that the price is fair
non callable for two years the issue is rated b 2 by moodys investors service inc and ccc plus by standard and poors corp
sumitomo metal industries ltd has set up two finance firms one in osaka and one in london a company spokesman said
the banking groups consolidated balance sheet total rose to 4534 billion schillings at year end from 4254 billion
gull inc gll 3rd qtr feb 28 nt
minnesota house speaker designate said the legislators would probably look at language similar to that contained in indiana and new york law
knox said in an interview with the local daily la nacion yesterday that argentinas current economic policies contained key elements to stimulate growth and the world bank was very interested in financing its growth
it said approval is also needed for an increase in authorized shares of preferred stock from one million to five million
if things go well from now on we should see heavy harvesting without a break from august through november or even december one said
in the year operating profit was 791 mln dlrs compared to a loss of 253 mln dlrs in 1985
the main reason for the expected increase in beet sowings is that returns from competing crops such as soybeans and grains are just awful said carter
it also said that shell canada exercised its option to take over solv exs 25 pct working interest in the construction of the oil facility relieving it of its obligation to raise about 625 mln canadian dlrs for plant construction
conrac cax in merger talks with several
freedom federal savings bank said it will recognize in its first quarter earnings a previously deferred 15 mln dlr gain which resulted from the sale of an apartment complex in 1983
the fiscal deficit for 1987 88 is forecast at 22 billion dlrs compared with a forecast of 245 billion for 1986 87 and 187 billion a year earlier
gould gld completes sale of french battery unit
domestic usage is estimated at 650000 900000 tonnes depending on how other crops are affected by current poor rains
exports this year are expected to total 225 billion dlrs and imports 145 billion he added
no move was made to reopen dialogue on export quotas and no further discussion on the issue is likely during the three day talks they said
yesterday they reported sales of 150000 tonnes to unknown
alza corp aza a us pharmaceutical products concern is issuing a 75 mln dlr convertible eurobond due may 8 2002 with an indicated coupon of 5 1 2 to 5 3 4 pct and par pricing lead manager merrill lynch capital markets said
first bostons analyst was not available for comment
the failure of the international coffee organization ico to reach agreement on coffee export quotas could trigger a massive selloff in london coffee futures of at least 100 stg per tonne today coffee trade sources said
banks of mid america inc boma 1st qtr net
he said capital flows will be required to support the needed reforms in those countries economic systems
cheyenne resources inc said it purchased interests in four producing oil and gas properties for 2240000 shares of the companys restricted stock
it plans to buy back up to 300 mln dlrs of 16 pct first mortgage bonds due 2000 and up to 100 mln dlrs of 15 3 8 pct mortgage bonds of 2000
it said the dividends will be paid april one to shareholders of record march 16
disbursements would be for 12 years with seven years grace
the woolwich and equitable building society is issuing a 50 mln stg eurobond due april 27 1992 paying 9 1 2 pct and priced at 101 5 8 pct lead manager chase investment bank ltd said
in addition the ussr has made it clear it would consider buying us wheat if it were priced more competitively
all these rates are the same as for todays earlier help
opinions among delegates over the potential for reaching a quota agreement varied widely
the bill would require teams within six months to visit seven countries mexico philippines indonesia india bangladesh senegal and nigeria
the transco pipeline system reached permanent take or pay settlements on about half its committed gas deliverability and interim agreements for another 38 pct of its deliverability the annual report said
international aero engines iae 30 pct owned by united technologies pratt and whitney division has decided not to launch a superfan version of its v2500 engine
exports rose in the latest period to 10075 billion rupees from the a year earlier 8609 billion and imports to 15909 billion from 15671 billion in the period the figures show
we need additional time to understand why baker did not accept our proposal kistler also said that the law suit filed by baker was not a factor in the boards decision to keep its merger proposal on the table
earnings from the flick transaction were booked through a subsidiary and therefore showed up as part of the interest surplus in a section current earnings from securities and participations
this would be required by us banking regulations if the interest payments are more than 90 days overdue
alpha health systems corp a wholly owned subsidiary of pesch and co said it submitted a merger proposal to the board of reph acquisition co the parent company of republic health corp which is 64 pct owned by pesch interests
but the first official said from a technical viewpoint the bank of japan could activate swap agreements immediately after other central banks involved agreed to do so a swap agreement an exchange of currency between two nations allows both sides to acquire a ready source of the others currency in case of need
japan to pay five pct less for indian iron ore
a 400000 dlrs loan made by the investors was repaid out of the proceeds it said
a steep drop in goods producing jobs detracted from us march non farm payroll employment and makes it unlikely that the federal reserve will tighten monetary policy to defend the dollar economists said
between april 13 and june 26 the entire group led by gabelli group inc made net purchases of 403600 digiorgio common shares at 2220 dlrs to 2679 dlrs a share
demand for foreign exchange has consistently outstripped supply encouraging banks to bid high and thus further weakening the naira
opec must hold to its pact for the next six to eight weeks since buyers will come back into the market then said dillard spriggs of petroleum analysis ltd in new york
general partners said it intends to keep the companys plastics and industrial products businesses and its tires and related products segment
the dollars weakness had wiped some 89 billion schillings off the balance sheet total
in the us it all has to do with the general ethic of free competition while in europe the general approach is that liberal trade is good because it makes countries rich wolf said this basic us attitude explains washingtons tendency to impose so called countervailing duties an import tax designed to offset advantages alleged to be unfair
besides expressing its support the governments brazilian democratic movement party pmdb urged sarney to keep on with his decision up to the last consequences conducted by veteran party leader ulysses guimaraes head of brazils constituent assembly the pmdb praised finance minister dilson funaro for his courage to propose suspension of interest payment of the debt for an indefinite period
shaws supermarkets inc shaw year jan 3
bank of montreal is confident a solution will be found to brazils foreign debt problem and is not considering declaring its brazilian loans non performing president grant reuber said
fed funds were trading at 6 1 8 pct at the time of the direct injection of temporary reserves dealers said
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
b and c managing director peter goldie said rmj would be bought at about the same multiple as exco suggesting net income of around 16 mln dlrs
under a separate agreement japanese and foreign brokers will allow the latter including the six newcomers to underwrite five pct of the enlarged share up from 119 pct underwriting sources said
ansbacher said a and p has exciting growth potential particularly on the east coast of the us and has an annual revenue of more than four mln dlrs
west german economics minister martin bangemann urged a halt to the talking down of the dollar by both official and private institutions in the us saying calm was needed on the foreign exchanges
iran launched a major offensive codenamed karbala 5 towards the major southern iraqi port of basra in january but there have been no reports of heavy fighting in the area in recent weeks
ec foreign ministers issued a statement deploring japans continued trade imbalance and appealed for the country to make a greater effort to open up its markets
including discontinued operations and the special item net income was 598 mln dlrs or 621 dlrs a share fully diluted
kado whose appointment takes effect from today joined nixdorf in 1984 and was previously the companys head of controlling and purchasing
it has been under 1 1 4 points recently
nippon oil co ltd npolt said it will launch its 100 octane gasoline on july 1 aiming for an increase in high octane sales to 20 pct from six pct of its total gasoline sales
he said the government wanted to finalise contract extensions as soon as practical and urged the industry in the meantime to maintain its exploration drive
us bancorps pacific state bank of lincoln city said it plans to merge with us bancorps us national bank of oregon
officials at fairchild and fujitsu were not immediately available for comment
australian metal trader links to asturiana de zinc
the rating agency reiterated that it is concerned about the relative levels of risk in the banks widely dispersed asset portfolio
american motors corp gets qualified audit on 1986 financial statements
the united states and japan will soon settle their trade dispute over semiconductors us commerce secretary malcolm baldrige said on television
governments represented at a meeting to consider a proposed forum for copper have recommended that another session be held in september to consider further the nature of such a group a spokesman for the united nations conference on trade and development unctad said
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 market is getting mixed signals and it doesnt know which way to go one analyst said
unusually cold weather in january and smaller increases in roughage supplies during 1986 than in 1985 kept livestock production from expanding as much as it did a year earlier usda said
fertility and genetics research baby 1st qtr
broadcasting including assets pending sale might be 30 to 40 dlrs per share he said
rates for five billion pesos worth of philippine treasury bills eased slightly at fridays auction with tenders totaling 1394 billion the central bank said
dibona said the windfall profit tax should be abolished immediately and current proposals for increased environmental regulations on acid rain and waste disposal should be not adopted
australias official reserve assets fell to the equivalent of 850 billion us dlrs in february from 915 billion in january compared with 906 billion a year earlier the reserve bank said
general acquisition co said it was disappointed by gencorps response to its tender offer and questioned how the company might give better value to shareholders
oper shr 40 cts vs 30 cts oper net 1364000 vs 1025000 revs 147 mln vs 110 mln avg shrs 3372970 vs 3425400 year oper shr 86 cts vs 32 cts oper net 2925000 vs 1109000 revs 430 mln vs 357 mln avg shrs 3383651 vs 3418594 note year ago periods exclude extraordinary gain of 11 mln dlrs or 31 cts shr
london traders said yesterday the rebate was the largest ever granted
the latest weekly hughes tool co ht rig count a barometer of the oil industrys health showed 761 us rigs active in what is traditionally the slowest time of the year
that agreement hammered out late last year after months of heated negotiations called on japan to stop selling cut price chips in world markets and to buy more american made chips
us meat group to file trade complaints
the company in 1986 registered its first profit in eight years earning about 446 mln intis in pre tax profits
freedom frdm to recognize gain on unit sale
yugoslavias debt refinancing timetable is to be considered by the paris club at the end of this month
micron technology inc said it expects to record a net loss of about 11 mln dlrs in the second quarter compared to a loss of 97 mln dlrs in the first quarter and 98 mln dlrs in the year ago second quarter
upon completion of the acquisition lsb would pay about 15 mln dlrs to the shareholders of northwest and transfer to northwest federal certain assets having a net current appraised value of not less than 30 mln dlrs
phelps dodge corp officials said good fundamentals in copper markets should lead to improving prices for the metal
kansas legislator to offer us 0 92 bill today
shell canada a wholly owned subsidiary of the royal dutch shell group rd said that it raised crude oil prices by about 47 canadian cts a barrel today
champion home builders inc said it sold the commerce meadows 600 site manufactured housing rental community in commerce township michigan for a pre tax gain of about 900000 dlrs and the heron cay 610 site adult community in vero beach florida for a nominal pre tax gain
louis dreyfus 3700 tonnes same corn for may 10 june 5 at 7568 dlrs fob gulf
but private sector economists caution that the governments ability to promote growth by boosting state spending is constrained by the need to maintain a large surplus on the current account of the countrys balance of payments
the company said it has no present plans to issue any of the shares which may be repurchased
datametrics corp dmcz 1st qtr jan 31 net
in conjunction with this misleading propaganda america has already paved the ground to achieve its expansionist and hegemonistic intentions aiming to build up its military presence in the region he was quoted as saying
period ended jan 31 shr 38 cts vs 61 cts net 7012000 vs 11193000 revs 2230 mln vs 2003 mln year shr 111 dlrs vs 136 dlrs net 20214000 vs 23602000 revs 6565 mln vs 5205 mln avg shrs 18257631 vs 17376480
prime minister yasuhiro nakasone today agreed with bank of japan governor satoshi sumita that a further cut in the discount rate was not appropriate at present central bank sources said
it bought nearly two billion us dlrs between march 5 and 23 he said
japan four year note auction average yield record low 3714 pct stop 3743 official
the government forecasts annual average inflation of about eight pct this year
brazilian officials are trying to increase brazils export share of non flat products to the us market
conditions not yet set
the number of jobless rose to 650700 from 631900 in february and 593200 a year earlier the bureau said
us trade negotiators here last week said the pact was in jeopardy because of continued dumping in non american markets and little sign of increased foreign sales in japan
wormald to acquire stake in holmes protection
jacques thas in charge of rescue for the herald of free enterprise said his men had searched all of the ship except some inaccessible cabins and the control room
it called the bill anticompetitive and warned that it would force higher gasoline prices for georgia motorists
new york investor asher edelman and dominion textile inc dtxt who are currently seeking to acquire burlington industries inc in a hostile tender offer said they lowered their stake in the company
swedens wallenberg group fought back a bid by the london based swedish financier erik penser to secure a large stake in swedish match smbs st one of the companies at the core of their business empire
the bank official noted m 3 which includes m 1 money supply plus savings time deposits and deposit substitutes
the acquisition follows the exxon withdrawal from south africa announced last december
in announcing the takeover agreement chrysler chairman lee iacocca cited amcs jeep division as well as its new 675 mln dlr assembly plant at bramalea ontario and its network of 1200 dealers as the major attractions
the hague launches second tranche of cp program
the non callable bond is guaranteed by hertz corp
soybean crushings during 1986 87 1130 vs 1115 last month
the companies said they expected the merged group to qualify for listing on nasdaq
indias annual inflation rate drops marginally
while relatively unsuccessful the scale of intervention between so many nations is unprecedented in recent years
salomon brothers and lf rothschild co managed the deal
in 1985 when oil prices were still above 25 dlrs a barrel and chemical exports were adversely affected by the strong us dollar dow had profits of 58 mln dlrs
cheung kongs earnings rose to 128 billion hk dlrs in 1986 well above market expectations of 920 mln to one billion dlrs
last week the broadcasting supervisory board asked hachette to remove bnp from the consortium because the bank had acted as adviser to the government for the imminent privatisation of tf1
hawaiian electric industries said it has entered a letter of intent to buy the hawaiian insurance companies
the provision on eep wheat to the soviet union offered by rep
early redemption is not allowed
shr 15 cts vs 14 cts net 2028000 vs 1879000 revs 321 mln vs 295 mln
industrial equity pacific ltd a hong kong investment firm said it raised its stake in wrather corp to 2025850 shares or 281 pct of the total outstanding common stock from 1808700 shares or 251 pct
dealers noted that under the chapter 11 filing noteholders will receive no interest payments
so far today the bank has provided the market with assistance worth 646 mln stg
economists said the fourth quarter figures were also distorted by the governments sale of gold coins in the second half of 1986
baker said the us increase would account for 70 pct of the banks useable financial resources
fairfield communities inc fci 10 mos dec 31
shr loss 931 dlrs vs loss 162 dlrs net loss 162 mln vs loss 2770243 revs 994 mln vs 962 mln
group shr 1834 yen vs 5872 net 1073 billion yen vs 3706 billion pretax 2776 billion yen vs 8478 billion operating 3006 billion yen vs 8881 billion sales 88922 billion vs 95578 billion note the company attributed the profit fall largely to the yens appreciation during the period
international biotechnologies ibio 4th qtr
the average lead time for development of a shale oil or liquified coal project is between five and ten years
shr loss 34 cts vs loss 214 dlrs net loss 2275000 vs loss 9560000 revs 170 mln vs 199 mln year shr loss 49 cts vs loss 211 dlrs net loss 2661000 vs loss 9283000 revs 735 mln vs 936 mln note results have been restated to reflects equity investment in welltech inc for one month ended dec 31 1986 and its investment in american well servicing for the 11 months ended nov 30 1986 and full year 1985
deb shops inc debs sets stock split
french foreign minister jean bernard raimond predicted in a published interview a successful end to negotiations to admit gulf petrochemical exports into the european community ec negotiations have been under way between the community and the six nation gulf cooperation council gcc for three years
residential rmi issues 543 mln mortgage
payment date is april 23 1987
brokers also noted market speculation that evergo industrial enterprise ltd will make a similar move after the firm requested to suspend share trading this morning
dauster said there are no plans yet to renew negotiations at a later date
the west texas intermediate grade was unchanged
the transaction involves one quarter of the company owned bojangles restaurants and is in accordance with its restructuring program announced in october 1986
it said the consumer price index base 1981 rose to 13283 points from 13269 in february and 13117 in march 1985
last year laidlaw had operating earnings of 662 mln dlrs or 63 cts per share on revenues of 7178 mln dlrs
nogales said inflation which soared to over 20000 pct a year in the governments first month in office was now down to 10 pct on an annualised basis from the last six months and the plan was that it should continue at this level
they said it is focusing instead on a borrowings target of around 300 mln dlrs
this is a matter that is being looked into charles rule acting assistant attorney general antitrust told the senate judiciary committees antitrust subcommittee
brussels ferruzzi says it will pay 630 mln dlrs to cpc international for european mills
that means were going to have to work on our twin deficits both the budget deficit and the trade deficit regan said
in remarks before the afternoon session of the international monetary funds interim committee baker said he was not suggesting that the system should be abandoned
caesars world said in a statement that the cash distribution will result in a substantial deficit in stockholders equity it did not give an estimate of the size of this deficit
gold ecu coins with a face value of 50 ecus will be sold from the same day
three grades are not warranted said henry rosenberg chairman of crown central petroleum cnp refiners will have to upgrade again he added
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
the japanese quotas on 12 food categories which the united states has challenged include items such as tomato paste some cheeses and specialty fruit juices
texaco filed for protection under chapter 11 of the us bankruptcy code yesterday after failing to reach a settlement with pennzoil on an 11 billion dlrs court award for illegally interferring with pennzoils proposed purchase of getty oil co
ici expects to file for permission to market carwin in the us later this year
the company said the acquisition makes chase the second largest issuer of credit card and other unsecured consumer credit loans
may two net shr 11 cts vs eight cts net 5895000 vs 3896000 sales 1273 mln vs 1105 mln note share adjusted for three for one stock split payable july 27 to holders of record july one
the main factor for the december upward revision was new business formation
its potentially a big suit and investors feel that its not good to go against regulators kenneth chu kai leung a smith barney analyst said
they feel its a different facility and so any kind of suggestion of a restructuring would look bad one banker commented
new york telephone co a subsidiary of nynex corp filed with the securities and exchange commission for a shelf offering of up to 500 mln dlrs of debt securities on terms to be determined at the time of the sale
gross investment in industry was expected to grow by five pct this year a slowdown compared with 115 pct growth last year the cpb said
northern states power co nsp votes quarterly
italian treasury certificate offer closes early
like dated interbank deposits were quoted today at 6 3 4 5 8 pct
that volume of aid does not appear difficult they said japan the world bank and the adb are expected to provide most of the financing while the philippines 12 bilateral aid donors would contribute the rest
net includes pretax gains on sale of businesses of nil vs 4656000 dlrs in quarter and 260 mln dlrs vs 4656000 dlrs in year
as with all paris club rescheduling accords specific interest rates and other details have to be negotiated on a bilateral basis with the creditor countries involved
xyvision inc is issuing a 25 mln dlr convertible eurobond due may 5 2002 paying an indicated coupon of between 5 3 4 and six pct and priced at par lead manager credit suisse first boston ltd said
us agriculture secretary richard lyng said the reagan administration had not decided on offering the soviet union subsidized wheat but that such an offer had not been ruled out
the european community ec and euratom the european atomic energy agency are expected to issue french franc eurobonds this month a treasury spokesman said
imports fell to 861 billion from 1012 billion a year earlier and 894 billion in january
on february 25 citgo lowered its crude postings 50 cts to 150 dlrs per bbl and cut wti one dlr to 1600
last year south koreas current account surplus was 465 billion dlrs
it is inevitable that exchange rates fluctuate under the system of floating rates sumita said
housing construction is the key strategic variable in the expansion of domestic demand wrote chihiro nakajima professor at kyoto gakuen university
the us currency ended at 18270 80 marks below yesterdays last 18365 75
india foodgrain target 160 mln tonnes in 1987 88
general cinema corp gcn common stock dividend
the ministry said french aid to gabon in 1987 within the framework of the countrys economic recovery program amounts to about 167 billion francs
but our proposal leaves it very little to object to van horick said
shr 56 cts vs 46 cts qtly div 29 cts vs 27 cts prior net 9089000 vs 7585000 sales 868 mln vs 830 mln note pay may 15 record may one
we need a surplus because we have to reduce our debt but we are taking measures to hold the size of the surplus at a proper level kim said
tricentrol plc tctl said it will concentrate most of its efforts this year on its proven oil and gas reserves in order to maximise benefits to shareholders in the mid to long term
in 1983 walter haefner a swiss financier and a major wyly investor lured gregory j
in the european beet growing regions of the soviet union it was warm with showers over most areas and weather was generally good for the emergence and growth of beets
however he said new wage agreements in west germany had raised inflation expectations which would put upward pressure on interest rates in the longer term
it was also clear that there will be tough talks on which ec member states should bear the brunt of the closures and on how much funding for help to those thrown out of work should come from community coffers
shr 35 cts vs 32 cts net 3033000 vs 2189000 revs 562 mln vs 319 mln avg shrs 8649000 vs 6914000 six mths shr 63 cts vs 72 cts net 5450000 vs 4966000 revs 1086 mln vs 663 mln avg shrs 8655000 vs 6912000
henans grain output fell by 25 mln tonnes last year from the 1985 level because of drought which has been affecting the province since may
if the tariffs remain in place for any length of time there will be complete erosion of exports to the united states said tom murtha analyst at james capel and co
it said a state is recognized as tuberculosis free if no case of the disease is diagnosed for at least five years and if the state complies with the uniform methods and rules of the state federal cooperative eradication program
affirmed were the parents a 1 plus commercial paper and the bbb rated debt of the unit security pacific financial systems
he said the development bank of the philippines dbp and the philippine national bank pnb which own nmic had approached the soviet state owned firm in august last year
moodys investors service inc said it raised to b 1 from b 2 chicago pacific corps 315 mln dlrs of subordinated notes
chrysler c to use telecredit tcrd product
unique export financing being arranged for mexico
that increases to 288 mln dlrs the amount of bonds the utility will buy back
legal advisers have already been instructed to implement amalgamation of the london potato futures association the soya bean meal futures exchange and the london meat futures exchange
public authority borrowing in 1988 may also rise owing to increases in the second phase of bonns tax reform package
perus state minerals marketing arm minero peru comercial sa minpeco lifted a force majeure on zinc ingot shipments from the countrys biggest zinc refinery at cajamarquilla a spokesman said
the bank of england said it had offered borrowing facilities to those discount houses wishing to use them at 1430 gmt
the cash value of the offer was raised to 4200 dlrs from the 4050 dlrs a viacom share offered february 23 while the value of the fraction of a share of exchangeable preferred being offered was increased to 750 dlrs a share from six dlrs
bumpei otsuki president of the influential japan federation of employers associations nikkeiren told reporters the yen might rise as far as 140 to the dollar the us economy is not good and as long as the us economy is not good the us will put various pressures on japan the yens level depends on the condition of the us economy rather than japans economy and as long as the american situation is bad the yen will continue to rise he said
the visible goods surplus excluding energy fell by 56 billion guilders in 1986 to 114 billion due to declining terms of exchange while more goods were imported as consumer spending and investment increased
belgiums gdp growth may slow down to 15 pct this year and next year bringing a rise in the number of jobless the oecd said in its semi annual survey
international technology a hazardous materials management company said it purchased western emergency an environmental services firm to offer a broader range of environmental services to the gulf coast area
pan am also said it is encouraged by passenger traffic results so far this year as well as booking trends
conable directly linked further bank help for indonesias hard pressed balance of payments to further measures by the government to reduce protectionism and increase efficiency
japans ministry of finance does not permit the issuance of euroyen bonds with maturities shorter than five years
british telecom sees satisfactory 1986 87 results
trade and industry department officials also declined immediate comment
this was owing to higher agricultural production and the kenyan shillings relative strength against other major currencies the report said
the british firm failed to win a four billion dlr deal to supply an advanced communications system to the us army in november 1985 despite personal lobbying by prime minister margaret thatcher
sullivan mines inc year loss
turkeys trade deficit widened to 382 mln dlrs in april from 275 mln in march and 273 mln in april 1986 the state statistics institute said
parent company reserves stood at around three billion marks at end 1985
the combined sales and profit of the enlarged coloroll us business would be 67 mln and four mln dlrs respectively
it said the slate of key competitors in bankers trusts principal markets shifted as the bank repositioned itself into the global institutional markets
from this point of view the tax reform planned for 1990 should be brought forward the government plans gross tax reductions of 44 billion marks as part of the major tax reform
after five months of arduous work syndicating the loan debt fatigue was apparent and the talk was of ways to make the financing process less cumbersome
branitzki put porsches hedging costs in 1985 86 at 28 mln marks
the issues include caesars worlds bb rated senior debt and single b plus subordinated debt and caesars world finance corps b plus subordinated debt guaranteed by the parent
stanley also said that 1987 full year sales will be in excess of 18 billion dlrs as compared to the 15 billion dlrs reported in 1986
na not available usda revising price definition due to marketing loan
a spokesman for usair declined comment and said usair had not changed its offer for piedmont
apart from unemployment these include relief to farmers hit by european community cost cutting measures
the reagan administration is debating whether to provide government credit guarantees for the export of plywood a us agriculture department official said
the us still demands as a condition of reimposition of coffee quotas that objective criteria be set for establishing quotas said the us official who asked not to be identified
the merchandise trade surplus was pared to 1013 billion dlrs in 1986 from 1748 billion dlrs in 1985
dome pete dmp said to be pressed to sell encor
colombia had been invited but he did not know if it would attend
new england savings bank nesb 1st qtr net
ncnb corp ncb 1st qtr net
nissen said discussions on the technical details of a rule change to allow when issued trading were still taking place between the government broker at the bank of england and the quotations department of the stock exchange
jerry huckaby d la chairman of the house agriculture subcommittee responsible for the sugar program has threatened to offer legislation next year to curb domestic sweetener output if growers fail to restrain output in 1987
senators voted 92 1 for a non binding measure that endorsed mondays us attack on two iranian oil platforms in retaliation for an iranian attack last friday on a kuwaiti ship flying the american flag
the central bank bought 31 mln stg of bank bills outright in band two at 9 13 16 pct
the second tranche is for the period april 14 to july 14
reference new york grain freights 2 of march 6 brokers say the charterer of the saturn from us gulf to japan is reported to be nordstrom and thulin while the antigone is reported to have been arranged from tilbury to the black sea by soviet charterers
the news eroded the most immediate fears that the stock collapse would spill over into the economy via a banking crisis for example thus precipitating recession
m 2 showed a rise of 509 pct for january at 5568 billion rand after 430 pct in december m 1 1672 pct at 512 billion after 1280 pct and m 1a 2279 pct at 1430 billion rand after 2054 pct
the company said the settlement relates to regulatory violations alleged by the us environmental protection agengy and the california health services department at the companys vine hill and panoche treatment facilities in northern california
the move had little effect with the dollar still testing 148 yen ahead of the official fixing
energy ventures cinc engy 4th qtr net
the quota on juice may be harder to eliminate because imports might replace domestic produced juice us and japanese officials have said
timing and psychology are the key to successful intervention said jim oneill a financial markets economist with marine midland banks inc
oper shr profit 60 cts vs loss 55 cts oper net profit 928000 vs loss 88000 revs 487 mln vs 397 mln avg shrs 37 mln vs 15 mln year oper shr loss 117 dlrs vs loss 60 cts oper net profit 2537000 vs profit 587000 revs 1788 mln vs 1176 mln note per share figures come after preferred dividends
xp system is based in the southern dutch airport of maastricht and has an annual turnover of 100 mln guilders
egypt is able to produce up to one mln bpd
moore mccormack resources inc said it has completed the previously announced sale of its interlake steamship co and moore mccormack bulk transport inc great lakes and ocean bulk shipping units to james r
elements in the fourth quarter gdp rise included falls of 06 pct and 02 pct in private and government final consumption expenditure respectively the bureau figures show
cyprus minerals cypm named in suits
the yen later firmed to around 14790 14800
levon previously reported the zone averaged 0226 ounces of gold a ton
a senior kuwait petroleum corporation official had earlier told he was unaware of any attack against kuwaiti oil installations
if its not all cleaned up by then i dont know what will happen
the company said the discussions have led to a general understanding by which nippon life would purchase a 13 pct equity investment in shearson lehman for approximately 530 mln dlrs and american express shearson lehman and nippon life would explore mutually advantageous nonexclusive business and investment opportunities the company said a definitive agreement on the matter is subject to a number of conditions including approval of the american express board and the japanese ministry of finance
no securities repurchase agreement is expiring next week but dealers said the bundesbank could offer fresh liquidity if conditions significantly tighten
fourth national corp stake acquired
ministry officials said the survey showed that the japanese economy is in a delicate stage in which it is hard to tell if economic growth has stopped deteriorating or if the economy is heading for a recovery
some traders said companies that deal with texaco are concerned about whether they will receive payment or supplies under the bankruptcy filing
it said the condoms are currently sold in spain but have not gone on sale in other european countries
the paris declaration did not state the levels at which central banks of the major industrialised countries would intervene
the company said the money raised from seizer will further strengthen its balance sheet and enhance its ability to seek selective expansion opportunities
sun cos sun refining and marketing co subsidiary said it raised the price it charges contract barge customers for heating oil in new york harbor by 050 cent a gallon effective today
when asked if the office of management and budget had resisted the cash certs ratio the usda official said that we proposed 50 50 and omb accepted it
he also suggested that the arctic national wildlife refuge in alaska should be opened up for leasing to oil companies dibona said
drexel burnham and tucker anthony co managed the deal
us energy costs rose in february by 19 pct
australian tug crews delay foreign container ships
speaking with reporters at the semiannual meetings of the international monetary fund balladur said we are not very far from the notion of target zones even if we dont say so he told reporters that our ideas are progressing adding that the finance ministers have been talking about more cooperation on economic policies and on levels around which currencies should stabilize
if the boycott is lifted tomorrow kuranari would probably have to remain in japan to attend parliamentary discussions on the governments 1987 88 budget japanese officials said
the sunderland plant currently produces 24000 bluebird cars annually for the british market
labour productivity rose 37 pct in the first nine months against 48 pct growth in january to september 1986
peter greenbaum of smith barney harris upham and co said several areas including transport equipment should have bounced back
atlantic richfield co said it sold its plan cell research institute unit and its arco seed co operations in two transactions for undisclosed prices
he noted that the tap system allows a more clearly defined lock up period as each tranche has a specific maturity
earlier this week the bank sanctioned a cut in bank interest rates in a surprise move which aimed at limiting sterlings rise ahead of the march 17 budget
peru short term trade credit up to 430 mln dlrs
only this will boost enthusiasm it said
mitsui and co buys stake in imatron
two other investigations into the disaster have also begun one belgian and one by the ferrys owners
temple inland intl paper up on raised opinion
but lee said the negative inflation rate is unlikely to be repeated this year because of projected higher prices for primary commodities and oil
oral proceedings were held in the hague on friday and the court said it would give its verdict within six weeks
the company said it expects to file with the sec within the next two to three weeks
mcchip resources inc said it has agreed to exchange its interest in oklahoma oil and gas properties operated by reserve exploration co rexco for 638435 restricted reserve common shares
the commodity credit corporation ccc has authorized an additional 80 mln dlrs in credit guarantees for sales of vegetable protein meals to hungary for fiscal year 1987 the us agriculture department said
co lead is hambros bank ltd
the warrant will be for a term of two years
fees are a one pct selling concession and 1 2 pct combined management and underwriting
kdi said completion of the transaction is subject to governmental approvals and the approval of triangle microwave shareholders and the transaction is valued at over 35 mln dlrs
talking point ibm ibm 
bicc shares were last quoted at 357p up from 344p at yesterdays close in buoyant response to results which were ahead of market expectations dealers said
wall street stocks purolator courier pcc 
shr 90 cts vs 30 cts net 229 mln vs 7567000 sales 3230 mln vs 2721 mln note per share figures reflect april 25 1986 five to three stock split
the mayor said foreign companies would be invited to participate in some projects through international tendering
full name is peter miller apparel group inc
he also said the yens large and rapid rise is depressing the outlook for the japanese economy noting that in addition to hurting exporters it is also damaging domestic market manufacturers through cheap imports
he also said the federal government should maintain the existing 15 pct export tax and not allow provinces to offset the tax with increased provincial fees for cutting lumber
he attributed the decline in the value of us imports to falling agricultural products prices last year
the spokesman gave no further details
michael pointed out however that trimming the us trade deficit the ultimate aim of the recent meeting of major industrial countries may not necessarily aid bond prices
boone pickens the texas oilman and financier said he believes the heady days the oil service industry had in the early 1980s when over 4500 oil rigs were once reported operating will not return in his lifetime
the edmonton alberta plant would be scheduled to go on stream in late 1989 the statement said
the jornal do brasil newspaper in an editorial today entitled dangerous confrontation said from the economic point of view the seamens strike carries an alarming cost with grave consequences for the supply situation and for the countrys external trade the seamen are seeking a 275 pct pay rise and have rejected offers of up to 100 pct
shr loss 20 cts vs loss 12 cts net loss 2195000 vs loss 1402000 revs 3600000 vs 5777000 year shr loss 71 cts vs loss 51 cts net loss 7851000 vs loss 5594000 revs 167 mln vs 248 mln
combined intl pma holders to vote on split
the purchase price includes 125 mln dlrs in cash and company stock it said
iran which is the most powerful country in the gulf will not allow the superpowers or any other foreign forces to interfere in the region he said
crazy eddie crzyo amends shareholder rights
kevin boakes of greenwell montagu gilt edged cautioned against over optimistic forecasts but agreed a half point cut looked likely
although the world bank had pioneered the swap market it did not intend to launch new financial instruments just for the sake of innovation rotberg said
in europe to manufacture a high performance engineering thermoplastic
results exclude gain on sale of discontinued operations of 97 mln dlrs or 360 dlrs a share in 1987 3rd qtr
the group had joined with the moran group which last year assembled a combined 44 pct stake in zondervan during its unsuccessful takeover try
i see us poised at the threshold of a golden period said paul oreffice chairman of giant dow chemical co dow adding theres no major plant capacity being added around the world now
trading profit 2172 mln vs 2111 mln launching costs 476 mln vs 516 mln share of profit of related companies 36 mln vs 34 mln net interest receivable 90 mln vs 124 mln payable extraordinary debit 441 mln vs nil trading profit includes civil aircraft 77 mln loss vs 25 mln loss military aircraft and support services 1460 mln vs 1483 mln guided weapon and electronic systems 1397 mln vs 1278 mln space and communications 19 mln vs 20 mln loss company funded research and development 627 mln loss vs 549 mln reorganisation costs nil vs 56 mln loss launch costs include bae 146 171 mln vs 273 mln airbus 194 mln vs 69 mln bae 125 800 03 mln vs 15 mln atp 108 mln vs 159 mln
eagle entertainment eegl issues bonds
tense trade ties to dominate ec talks
shr loss 326 dlrs vs loss 275 dlrs net loss 3479744 vs 2939619 year shr loss 558 dlrs vs loss 220 dlrs net loss 5964454 vs loss 2341818 note net includes tax credits of 108798 dlrs vs 1445275 dlrs in quarter and 838690 dlrs vs 1124805 dlrs in year
continental illinois corps cil chairman john swearingen said he sees negotiations to reschedule brazils debt payments taking at least three to six months
brazilian finance ministry sources said in brasilia yesterday that the country was preparing a new economic strategy designed to ensure domestic economic growth
tenneco rose two points to 48 3 4
energy optics inc 2nd qtr jan 31 net
invisibles in february were put provisionally at a 600 mln surplus the same as in january
ongpin says pins will revive baker plan
commonwealth said westfair originated 60 mln dlrs of residential mortgage loans during 1986
over the past 18 months the price moved to a ten year low of 3400 stg in march 1986 and rebounded to as high as 4680 stg in december 1986
they would also be used to assess progress of policy goals
forming a new contract and establishing a singapore warehouse are constructive moves by the lme but backwardations which make physical trading difficult would not totally disappear as a result the trade sources said
the group earlier reported its net earnings dropped to 6030 mln dlrs in the first three quarters ended february 28 from 8130 mln a year earlier
the hole is 460 feet east of the previously reported first hole
leading cocoa producers are trying to protect their market from our product said a spokesman for indonesias directorate general of plantations
vtx electronics corp vtx 4th qtr net
the debentures are convertible into the companys common stock at 4425 dlrs per share representing a premium of 2643 pct over the stock price when terms on the debt were set
bank of japan keeps intervening to hold dollar above 149 yen brokers
pacific western said the two airlines services and schedules would also be integrated on april 26
representatives of the major government agencies agreed at a trade policy review group meeting which includes officials of the deputy secretary rank to continue diplomatic pressure on ec member states
rising interest rates and protectionist trade policies had prompted a new push by latin american nations to win debt relief regional foreign and finance ministry officials said here
since paris there are signs west german growth is slowing while us officials said they were giving japan until april to show that an economic stimulus package was in the offing
the payment date is march 30 while listing will be in luxembourg
the ecs executive commission says the emission level of nitrogen oxide was expected to drop to 24 mln tonnes a year from three mln tonnes within the 12 nation community if all heavy vehicles applied to the new standards
the accord provided for a stand by loan a compensatory financing facility and a structural adjustment facility
seasonally adjusted figures showed that imports rose in february to 716 billion stg from 673 billion in january
china faces dilemma over sugar imports
avalon corp of the us has a 17 pct stake in tmoc through an option agreement
as china lacked storage much of these imports was stored in qinghai inner mongolia and other inland areas the diplomat said
the china daily said all cotton growing areas in south china should be maintained and growing in the north should be concentrated in hebei shandong henan and xinjiang
malrite guaranteed broadcast partners lp said it bought wtrk inc from cox enterprises inc for 138 mln dlrs in cash
sulphur production rose to 123 mln tonnes in 1986 from 998707 tonnes in 1985
imf managing director michel camdessus paid a brief weekend visit to the ivory coast during which he discussed the countrys economic difficulties with president felix houphouet boigny
talyzin said the kremlin also had decided to increase spending next year on medical services education pensions and social insurance schemes he said state expenditures in these fields would reach 171 billion roubles in 1988 or 35 billion roubles more than had originally been envisaged in the 1986 1990 five year plan
hutton would maintain a majority interest in purolator
shr 38 cts vs 52 cts net 3980000 vs 5524000 revs 374 mln vs 448 mln nine mths shr 76 cts vs 99 cts net 7983000 vs 105 mln revs 1004 mln vs 1236 mln note 1987 qtr and nine mths includes loss 9000 dlrs and 432000 dlrs or four cts per share from repurchase and retirment of debt
mcculley said that once the spread between three month certificates of deposit and the prime rate narrows to less than 1 1 2 percentage points there is a strong chance of a prime rate increase
westpac banking corp wstps was one of the first to take advantage of the changes by announcing today it would double its stake in the sydney firm ord minnett ltd to 100 pct
swiss capital exports rise in january
zimmer jr
us japanese join to bid on kansai airport
fed approves chemical bank acquisition of texas commerce bancshares
malachi mixon iii said he expects the home healthcare equipment company to post sales increases in the 10 to 15 pct range in 1987
conrac corp rejects mark iv industries tender offer explores alternatives
of those 37 super giants only 11 lie outside the middle east
jp morgan places 13 billion dlrs of medium and long term brazil loans on non accrual
herley microwave hrly 2nd qtr jan 31 net
the rise in the value of the mark and the yen has hit indonesia by increasing its debt servicing levels
port and transport union representative paul rosenmuller described the court ruling as a victory for the union but added there was still a long way to go before the dispute that has hit the general cargo sector for the past eight weeks was resolved
noranda inc said a copper mine fire that killed one miner and trapped 44 others for nearly a day caused an estimated 10 mln canadian dlrs in damage
jc penney declares two for one split raises quarterly
phillips petroleum co will emphasize improving its short term cash flow this year to pare its debt cj pete silas chairman told in an interview
kellogg pointed out that venezuela now imports all of its btx aromatics
but therefore japanese goods may keep their price competitive edge said azusa hayashi director of the first international economic affairs division of the foreign ministry
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
operating profit from natural resources was 42 mln dlrs up 12 mln dlrs from the prior year
they said saudi arabia was allowing production to fluctuate with lifting nominations and was not trying to maintain artificially high levels by putting oil into storage
keycorp said it has signed a definitive agreement to acquire commercial security bancorp csec by exchanging keycorp common valued at 63 dlrs for each commercial securities share
united banks colorado ubks acquisition cleared
new zealands unemployment rate was 39 pct of the workforce in the quarter ended december 31 unchanged from a revised 39 pct preliminary 38 pct in the previous quarter but slightly above 38 pct in the year earlier quarter the statistics department said
oper shr 15 cts vs eight cts oper net 517333 vs 276240 revs 224 mln vs 140 mln note 1986 shr and net exclude extraordinary gain of 1333760 dlrs or 40 cts share
but when asked if his association were forced to choose between a ten pct cut in target prices or a 0 92 program larry johnson of the corn growers said they would agree to 0 92 rather than take sharp cuts in target levels
edward moore and robert derose all of new york each own one third interests in brookehill partners
the soviets rejected the us offer then on the grounds that the 13 dlr per tonne subsidy was insufficient to bring us prices down to competitive levels
barley 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 yield bu 508 508 510 510 start stocks 325 325 247 247 production 610 610 591 591 imports 5 5 9 9 total 941 941 847 847 barley cont 1986 87 1985 86 04 09 87 03 15 87 04 09 87 03 15 87 usage mln bu feed 300 300 333 333 other 175 175 167 167 ttl domest 475 475 500 500 exports 150 150 22 22 total use 625 625 522 522 end stocks 316 316 325 325 avgprice 145 65 145 65 198 198 note average price in dlrs per bushel
shr 17 cts vs 15 cts net 565000 vs 502000 revs 200 mln vs 145 mln note current qtr figures include tax loss carryforward credit of 194000 dlrs vs credit of 197000 dlrs
he also planned to end the present treatment of tax credit relief for foreign withholding tax paid on interest on bank loans also from april 1
analysts said the merger would dilute the holdings of current computer associates shareholders by about 10 pct
soviet economist sees few 1987 gains in us trade
doe reaches proposed oil settlements
government figures show that total loans and advances rose by 138 pct in 1986 compared with a 45 pct increase in 1985
minister predicts one pct inflation for singapore
bp will set prices at 968 cents litre and 906 cents respectively
the administration asked congress to replace the us tariff schedule with a new system to bring it into line with international tariff categories us trade representative clayton yeutter said
he said the cutbacks were already drying up the supply of chips available for export through unregulated distributors in the so called grey market
entre computer etreo closing overseas units
iea sees one pct growth in 1987 oecd oil demand
the bangkok shipowners and agents association has appealed to the government to scrap the purchase plan
they said it was likely rain combined with high winds uprooted many sunflower and maize plants
this allowed them to walk out and say weve kept faith with the venezuelan precedent one source said
non redeemable for five years the issue is rated b 2 by moodys investors service inc and b by standard and poors corp
it said the carolco shares used in the exchange are valued at 700 dlrs a share or a total value of 154 mln dlrs and will be adjusted based on the price of carolco shares on the closing date
the 140 billion dlrs of 182 day bills were priced at an average 96488 dlrs against 96549 dlrs last week to yield an average 730 pct versus 717 pct last week
fpl group inc fpl 3rd qtr net
dealers said funds tied up in foreign assets had flowed into local bond and stock markets as well
olson said he expects atts cash flow to remain strong despite the poor earnings
rule pledged to act against icahn and twa if a violation were found
smoothed but non seasonally adjusted figures show a merchandise trade surplus of 114 mln dlrs against 81 mln in january and a 47 mln dlr deficit in february 1986
it said southwest photo proposed a significant change in terms outlined in the letter of intent signed last month
west german officials are likely to emphasise at the venice summit that domestic demand which draws in goods from abroad is already outstripping export performance which has suffered from an 80 pct rise of the mark against the dollar in just over two years
shv says it making tender offer for ic gas
the company said the office of public counsel could find no evidence that the acquisition would substantially lessen competition in any market
if it received the short form approval general partners would set up a trust which would hold the broadcasting properties until the licensing situation is resolved
reading co said it has agreed in principle to convey properties it owns in and around the philadelphia convention center site to the city of philadelphia and the philadelphia convention center authority
the issue is being co led by credit lyonnais
but even with a 65 to 15 vote in favour of the proposal the restrictions were weakened in the final version
so far today the bank has given the market assistance worth a total of 1501 billion stg
the bank also sold 18 billion francs worth of 850 pct december 2012 tap stock at a top accepted price of 9360 pct
the deficit in 1986 was 952 mln ringgit
deutsche bank posted a sharp rise in holdings of other securities to 464 billion marks from 271 billion in the parent bank
national fuel gas co said its board has approved a two for one stock split and will consider an increased cash dividend at its june meeting
bankamerica said its outstanding loans to mexico currently total about 25 billion dlrs of which about 215 mln dlrs of loans have been reported as either nonaccrual or past due 90 days or more
the decrease brings marathons posted price for both west texas intermediate and west texas sour to 1650 dlrs a bbl
linear lner sees lower comparable 4th qtr net
taft and narragansett capital inc narr offered to acquire taft for 145 dlrs per share
banca damerica e ditalia 1986 year
he said citibank na is his lead lender and first boston inc is his financial adviser
ec sugar tender said to mark no change in policy
it said american split the order between airbus and boeing to get better prices and conditions
it said a subsidiary will own a 49 pct stake in valero natural gas
this is first dividend declared since company completed its initial public offering on november 7
the december quarter was significantly affected by the introduction of a 10 pct value added goods and services tax gst in october 1986 it added
schlumberger is freedmans second favorite oil service stock
iraq says iranian oil network attacked baghdad marckraq said its warplanes attacked the pipeline network through which oil is pumped to irans main oil terminal at kharg island in the northern gulf
he added preliminary indications for first quarter 1987 revenues were favorable
dauphin deposit corp said it signed a definitive agreement to acquire colonial bancorp inc the agreement calls for colonial to be merged into dauphin deposit corp and colonials subsidiary new holland farmers national bank to be merged into dauphin deposit bank and trust co the lead bank of dauphin deposit corp the company said
in a filing with the securities and exchange commission krupp said companies he controls and kappa acquired a combined 292000 radiation system shares or 525 pct of the total
noble affiliates inc said it found natural gas on ship shoal 80 located about 10 miles offshore louisiana in the gulf of mexico
the us agriculture department said private us exporters reported sales of 350000 tonnes of corn for delivery to unknown destinations during the 1986 87 marketing season
energas egaso to buy texas american tae unit
in its weekly petroleum status report the energy department agency said distillate demand was off 79 pct in the period to 290 mln bpd from 315 mln a year earlier
sales from the group in 1986 were approximately 160 mln dlrs the company said
ortiz mena declined to agree with estimates that capital outflows from latin america last year totaled 35 billion dlrs and that therefore he was calling for an inflow into the region above that sum
the spokesman said it is still too early to tell what effect the dry weather will have on the size of the crop which is harvested from around june to december
the finance ministry is expected to introduce yen commercial paper cp from october 1 in response to growing calls from corporations ministry sources said
short term it looks like a definite test of 90 cents perhaps 85 cents said william oneill coffee analyst with elders futures
moodys investors service inc said it downgraded to baa 2 from a 3 the rating on loral corps 7 1 4 pct convertible subordinated debentures of 2010 and on 10 3 4 pct subordinated sinking fund debentures due 1997
texas eastern corp said it has completed the purchase of an idle petroleum products terminal near norris city ill from growmark inc for undisclosed terms and will reopen it in september after remodeling
sales were lower than expected due mainly to delayed defence orders and cancellations
it said courtaulds intends to conduct a tender offer for all the martin stock it does not own beginning as soon as necessary documents are prepared
hydro quebec issues canadian dlr bond
the average price was 98277
bundesbank sees no change in monetary course
its a very complex transaction but basically what happens is they ostensibly put up money but the fees recapture any investment they might have once the merger takes place gardner said
institute of clinical pharm plc icpyy year
the directors of baker immediately after receiving the counter proposal filed a law suit in texas in a texas state court to force to hughes to complete the merger
yesterday frank hoenemeyer a retired vice chairman of prudential insurance co and currently a purolator board member said an initial offer from hutton was rejected by the board of directors february third
siemens ag siegf rebutted us criticism it is blocking american telephone and telegraph corps tn at and t entry into french telecommunications firm compagnie generale constructions telephoniques cgct
shipments in tonnes with comparative figures for february 1986 in brackets included beef 13272 11464 horse meat 1543 2083 and beef offal 4476 4672 the board added
one even showed interest in buying 45 mln dlrs worth of notes he said
ec sugar tender hard to predict london trade
previously consumers were proposing 12 month intervals between price reviews instead of 18 in the current pact
requiring the agriculture secretary conduct a study of the canadian wheat board import licensing system for wheat to determine if it is a non tariff trade barrier
kayaba industry issues 50 mln swiss franc notes
taiwans trade surplus with the us rose to a record 136 billion dlrs last year from 102 billion in 1985
he added that while the company welcomes the expansion into new areas it is not currently involved in any acqusition talks
american medical international inc 2nd qtr shr profit 32 cts vs loss 95 cts
its littered with contingencies and it doesnt even have a financing arrangement said one executive at another major airline
during his visit de clercq has met top chinese leaders and today signed an agreement to open a european community commission office in peking
a bear stearns officer said more than half of the ford credit notes were sold by late friday afternoon the second day of offering
the decline in january was the biggest for any month since july 1984 when the index fell 17 pct
unemployment has fallen to under three mln for the first time in over three years
it is our expectation that economic development will allow brazil to meet its debt a spokesman said
a gencorp spokesman said the offer came as a surprise and the company was not yet in a position to comment on the bid
he said scott foresman a textbook publisher will contribute more than 50 mln dlrs in operating income before depreciation and amortization for the full year
the 1986 results include a once off writedown of 520 mln crowns for intangible assets mainly the know how paid for in the takeover of a number of high tech companies by the group pharmacia said
southern natural gas co a unit of sonat inc said it filed with the securities and exchange commission a registration statement covering a 100 mln dlr issue of debentures due 1999
south koreas foreign debt which fell to 445 billion dlrs in 1986 from 468 billion in 1985 is still among the largest in asia
he said the city was willing to use commercial loans to finance technological improvements to factories which could show a quick return in increased exports and foreign exchange earnings
carlton communications optimistic for 1987
simon said bp had carefully considered the amount of its planned bid and he quoted an oil analyst whom he would not identify as saying bps careful evaluation means the company is not going to raise its offer
the ec policy is to offer export rebates which fail to give producers an equivalent price to that which they would get by offering sugar into intervention stocks vernes said
the federal trade commission said it eased a requirement that allied signal incs allied corp subsidiary get prior ftc approval before making certain acquisitions in the high purity acid market
france sold around 250000 tonnes of soft wheat to china in 1985 86 according to customs figures
foreign investment in australia jumps in last qtr
canadian worldwide energy buys triton oil unit
in addition the sales will produce 47 mln dlrs cash after debt reduction of 67 mln dlrs atco said
hamburgische lb issues 50 mln canadian dlr notes
egypt which already imports soviet coal wood newsprint and glass also wanted a debt deal to allow purchases of currently blocked spare parts for its ageing soviet military hardware the officials said
that could be done under the governments proposed banking bill now moving through parliament
dotronix inc said it completed the acquisition of video monitors inc for 392 mln dlrs
revenues in the quarter rose 14 pct to 175 billion dlrs it said
the company last week had stated that a number of domestic and international oil suppliers were demanding cash for oil shipments and in some cases had cut supplies altogether
roubatis told reporters the soviet union agreed to buy the plants entire annual output of 600000 tonnes of alumina
coffee accounted with 320 mln dlrs of exports up from 222 mln dlrs in august and 212 mln in september 1986 salek said
in addition woolowrth said 137367 armel shares have been tendered subject to guaranteed delivery
the bank of england said it invited an early round of bill offers to help ease tight conditions in the money market
freedom federal savings bank said it hired salomon brothers inc to solicit offers for the purchase of the bank as part of an ongoing review of methods to enhance shareholder value
the proposal will go to parliament for final approval
the state oil company petrobras requested the intervention because of a threatened strike by 55000 oil industry employees
claremont to boost champion products ch stake
synar who asked for the gao report after criticism of us action in a previous iea test said the united states successfully advocated a test limited to training participants in oil sharing procedures and the systems mechanical aspects
shr 25 cts vs 32 cts net 2414500 vs 3027500 rev 262 mln vs 235 mln nine months shr 76 cts vs 82 cts net 7214900 vs 7752800 rev 692 mln vs 649 mln
shr 40 cts vs 54 cts net 4442000 vs 6375000 sales 1028 mln vs 1025 mln avg shrs 111 mln vs 116 mln note share adjusted for august 1987 five for four split
diaz said australian brewer alan bonds bond corp holdings ltd had offered 150 pesos per share for the b shares
i do not question canadas right to protect its political sovereignty or cultural identity
computer associates to acquire uccel corp for about 800 mln dlrs
it was not until late last year after the currencies stabilized that companies again started issuing debt denominated in australian and new zealand dollars
burry forecast earnings of 200 dlrs per share in 1987 and 230 dlrs in 1988
humana inc said its board approved a shareholder rights plan or so called poison pill plan to ensure its shareholders receive fair treatment in the event of a proposed takeover
rainfall was lighter in other provinces
it is important that the agriculture negotiations reach a relatively early conclusion because the us is spending 26 billion dlrs a year and the european community probably more than that which is an ineffective use of financial resources he said
most recent 12 months net excludes preferred dividends of 64 mln dlrs compared with 86 mln dlrs last year
retail energy prices rose strongly in january reflecting the firming of world oil prices
tmoc has exploration interests in a number of areas in the amadeus surat eromanga and canning basins
the executive board session looks set to end today following a final session at 1600 gmt 1000 est when a consultancy report of the operation of the ico will be presented to producers and consumers delegates added
belgian foreign trade minister herman de croo said if congress passed legislation curbing world textile imports the only way the european community ec could react was to retaliate
bevis industries inc which has been seeking to be acquired said it recently received inquiries concerning the purchase of the company
currency options pioneered by the phlx in 1982 had become an accepted means of hedging against foreign exchange risk and had grown in popularity he said
ongpin said the use of pins would result in anticipated savings of one billion pesos over the debt agreements 17 year life
the bank bought bills for resale to the market in equal amounts on april 1 2 and 3 at an interest rate of 10 7 16 pct
the statement also said mozambiques limited debt service capacity made borrowing from the international monetary fund in the upper credit tranches inappropriate no details were available from the countries embassies nor from the club on the amounts involved but last week the ugandan finance minister chrispus kiyonga said he was hoping for a rescheduling of 120 mln dlrs
it said the joint venture to be 684 pct owned by grace and 316 pct by berisford would have annual sales in 1987 of over 700 mln dlrs
the company said its stockholders approved proposals that will insure that it remains independent
the united states wants an end to subsidies in a range of agricultural products from dairy products to vegetable oils he said
in an initial comment on its 1986 results dsm said the drop in 1986 turnover had been caused mainly by losses in the companys fertilizer division
the sugar import quota for the 1987 quota year january december has been set at 1001430 short tons compared with 1850000 tons in the 1986 quota year which was extended three months to december 31
gencorp said its statement would be made on or before the companys annual meeting scheduled for tuesday
she would not say how much it will pay for datagraphix but noted that datagraphix contributed 10 mln dlrs in earnings to general dynamics on revenues of 239 mln dlrs in 1986
it said 39000 options have been exercised to net the company 25530 dlrs to be added to working capital
a landslide breached iraqs one mln bpd pipeline through turkey on march 6 for a week and earthquakes in ecuador have shut down its export pipeline for four to five months
treasurys baker sees smaller trade deficit
the next ordinary meeting of the conference will be convened in vienna on december 9 1987
reagan vetoed a similar measure last year
computer associates international inc said its board has declared a two for one stock split payable may seven record april seven
atico financial atfc to make acquisition
triangle microwave inc said it is involved in talks on its possible purchase by a substantial us company it did not identify
our information suggests we will have the required number of votes in brussels to prevent the tax proposal going forward he said
the imf however which essentially forged the debt stategy following the disclosure by mexico in 1982 that it was near default is considered a stern taskmaster that has little sympathy or even understanding of poverty
mining group boliden ab said it had agreed with saudi state agency general petroleum and mineral organisation petromin to open a gold mine in saudi arabia to exploit one of the worlds richest deposits of the metal
the growth in imports appears to be flattening even if januarys bad weather had curbed consumer spending on overseas goods and import intensive stock building among manufactureres harwood said
the agreement simply helped it on its way
the very existence of all these bilateral irritants clearly emphasises the need to develop multilateral solutions to some of these problems the eighth gatt round of negotiations was launched at punta del este in uruguay in september 1986
french government to step up aid to jobless
the bond is available in denominations of 25000 dlrs and will be listed in luxembourg
scientific micro systems inc said it has acquired supermac technology a rapidly growing supplier of enhancement products and disc drive subsystems for the apple personal computer market
oper shr 21 cts vs 34 cts oper net 480000 vs 765000 revs 6386000 vs 5862000 year oper shr 120 dlrs vs 78 cts oper net 2692000 vs 1732000 revs 252 mln vs 203 mln notel net excludes tax credit 35000 dlrs vs reversal of credit 40000 dlrs in quarter and credits 79000 dlrs vs 72000 dlrs in year
in other areas silas looks for improved earnings from phillips chemical operations which provided 299 mln dlrs in earnings for 1986 up from 219 mln dlrs in 1985
independent economists warn that the deficit could push inflation to between 60 and 100 pct in 1987 against the govenment target of 40 50 pct
the ussr has already bought 20 to 21 mln tonnes of grains in the july 1986 june 1987 marketing year primarily from canada the european community argentina and australia martell said
saab scania issues 150 mln dlr eurobond
coffee futures dipped further and closed below one dlr a pound for the first time in six years
rep
silas told in an interview today part of this strength results from the rise in oil prices and also because some of the analysts have been happy with the steps weve taken in 1986 to pare our debt phillips stocks rose 1 4 to 14 dlrs a share following recommendations by some oil analysts a company source said
standard and poors corp said it downgraded four texas banks in a move that affects a combined 800 mln dlrs of debt securities and preferred stock
pse to start option trade on baker hughes bhi 
the source close to the top levels of japanese economic policymaking said japans understanding of the accord was that the yen would be kept at around 154 to the dollar the level it stood at when the accord was struck
a spokesman for privately held interconnect said it made the new proposal to gates learjets board but would not say if it had held talks with the parent companys board
twa said the offer was made in a letter to edmin colodny chairman and president of usair
the agency noted that texas air has adequate liquidity to service its obligations but cautioned there is no guarantee that its liquidity will remain stable
iranian oil is also surfacing in the us gulf and the far east at reported discounts to its 1750 dlrs official price
geodynamics corp gdyn 3rd qtr feb 27 net
he also said increased japanese domestic growth would result in more us exports to japan and would not necessarily lead to greater japanese capital flows to the us as gramm asserted if japan reformed its domestic capital market
tbn 15000 mt bulk sugar queensland japan 1465 dlrs fio 10000 1000 20 30 4 csr
but as one senior banker noted it is probably the best we could hope for
brooklyn union bu seen hurt by pipeline closure
he said price would help determine if the bank formed its own securities unit or acquired an existing investment dealer adding that asking prices for some dealers seem fairly high asked about plans for wholly owned harris bankcorp inc of chicago reuber said harris might consider acquiring more small community banks around chicago
in addition the newly elected chairman of the ig metall union franz steinkuehler was more radical and determined than his predecessor hans meyer and may be set for a longer battle to achieve the best possible settlement for his membership
he said at least 12 mln tonnes of the 1987 88 crop would be earmarked for domestic consumption
unitrode corp utr 4th qtr jan 31 loss
it is hard to see that japan and germany are willing or able to loosen fiscal policy sufficiently to offset the necessary us fiscal contraction citibank said
withdrawal would give the appearance of being chased away by iran which president reagan could never accept
these people have got trillions of dollars sloshing about and they dont know what to do with it
ec farm ministers will have a first discussion of the proposals at a meeting beginning next monday
icco buffer stock manager to buy 5000 tonnes cocoa tuesday june 2 official
he said the us action against japan was a significant retaliatory step but it did not constitute a basic change in trade policy the interview came just before next weeks semi annual meetings of the bank and the international monetary fund
it did not elaborate
argentina seeks new debt deadlines official says
moreover hard economic realities hold greater sway over the currency market than central bank intervention and these argue for a further dollar decline dealers said
american express said in the statement on sunday that it will not comment on rumors and speculation and a spokesman would not go beyond the statement
foreign investors have been here nibbling a long time but were seeing new names and smaller companies coming in said arthur smith an oil property appraisal specialist and president of john s
dealers are large enough now to go public
the dollar had plumbed a post world war ii low of 14998 yen on january 19 and reached a seven year low of 17675 marks on january 28
pacific gas pcg plant to begin refueling
foster corwith gas analyst with dean witter reynolds said most of the rising cost to booklyn union will be passed through to rate payers
saudi output said at year low to help opec
aydin ayd gets air force contract
santos said the move had been explained to fellow opec members during last weeks meeting in vienna when an increase in ecuadors quota to 221000 bpd from 210000 was approved
shr 21 cts vs 60 cts net 156576 vs 443404 sales 5309519 vs 5381264 year shr 106 dlrs vs 155 dlrs net 788220 vs 1151330 sales 223 mln vs 236 mln
it has consolidated other us and foreign manufacturing operations to reduce costs and written down certain inventories to better reflect their value it added
qtly div 57 cts vs 57 cts pay april 30 record april 3
the company said it planned to concentrate its resources on the manufacture and sale of cigarettes
bankers and diplomats said the government is well aware of the risks attached to this policy but is determined to tough it out on the oil front even if that means a short term depletion of reserves
wavehill international ventures inc said it has completed the previously announced acquisition of personal computer rental corp for 500000 restricted common shares giving former shareholders of personal computer a 25 pct interest in the combined company
another arbitrageur said it might not be too late for another bidder to get in the game
since only banks can buy another bank the only other possible acquirors would be a foreign bank alpert said
the central bank said the high rate of investment estimated for 1986 was due to government policies and to increasing optimism among firms whose financial situation had improved since 1985
the telecommunications business a 2000 mile fiber optic system for long distance use will not be profitable until late 1988 williams said
aegons net equity was 271 billion guilders in december 1986 against 346 billion the year before
this takes the banks total help so far today to 372 mln stg and compares with its upwards revised estimate of the shortage in the system of around 400 mln stg
ameritrust corp of ohio also raised its prime lending rate to 7 3 4 pct from 7 1 2 effective tomorrow
partnership buys ipco ihs stake of 68 pct
industrial equity pacific reported it bought 250000 shares of triton common stock on october 8 at 2250 dlrs a share
shr 43 cts vs 32 cts net 1991000 vs 1485000 sales 117 mln vs 9479000
american resource corp ltd year net
anything could happen one delegate said
temperatures average one to four degrees c above normal throughout all grain areas stressing grain filling corn in areas receiving lightest rainfall it said
the system will be effective until the end of 1988
economic spotlight chinas foreign debt up
trade sources say prices might boom once again if the crisis leads to output below the 1987 target of 143000 tonnes
chief executive david kendall said improved results mirrored benefits of a restructuring program undertaken in recent years
qtly div 19 cts vs 19 cts in prior qtr payable may one record april two
we expect significant increases in earnings and revenues in 1987 steven rales danaher chairman and chief executive officer said
duff and phelps today raised the ratings on general public utilities pennsylvania electric co
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
the central bank declined comment but dealers noted the bank had also intervened and sold small amounts of crowns on friday
the bank of england said it gave the money market a further 663 mln stg assistance in the afternoon session
qtly div 17 1 2 cts vs 17 1 2 cts prior pay june 5 record may 22
dow chemical co dow 3rd qtr net
this weeks meeting which began yesterday is due to end friday
slightly more than half of this payment will be in cash von garlem said but he said this will not markedly upset the 50 50 ratio since most farmers got advance payments
however since then the pound has continued to gain strongly
he told reporters yesterday the deposits located at four sites near the town of san ignasio contained the equivalent of 100 tonnes of gold
software services of america inc ssoao net
bt asia ltd is junior co manager with a two mln dlr commitment
with the federal funds rate trading comfortably at 6 9 16 pct down from yesterdays 674 pct average economists said the fed did not need to take reserve management action today
mitchell hutchins asset management inc a new york investment firm and subsidiary of painewebber group inc said it raised its voting stake in shaer shoe corp to 76000 shares or 75 pct from 52100 shares or 51 pct
i have spoken to every other opec minister and they are committed to making the accord work he said
central banking system inc csyso 3rd qtr net
he said that industrial countries are concerned that the large external imbalances remain a threat to the international monetary system
lu ming jen economic professor at soochow university told the decision came a little bit late
mthly div 65 cts vs 68 cts prior pay march 31 record march 16 note franklin massachusetts insured tax free income fund
the government officially estimates 1986 rice production at 267 mln tonnes with a forecast 273 mln tonnes output in 1987
the 750 mln peseta limit was set last march
sumitomo trust and banking co ltd has agreed to provide the letter of credit
advances will be priced at 31 1 4 basis points over the london interbank offered rate while notes which need only be purchased by banks if third party investors agree to buy them as well will be priced at offering
the irs estimates about 90000 returns will be directly filed this tax season up from the 26000 returns injected in the 1986 tax season
if such economies continue into the winter months both the temporao and the developing october april main crop could face serious damage from pod rot attacks on trees which would normally be treated against the disease
without giving breakdowns arango said private exporters had registered 1322804 bags this calendar year up to april 6 or roughly 440000 bags per month slightly lower than the average in recent years
canadas consumer price index rose 06 pct in may to 1378 base 1981 following a 04 pct rise in april and a 05 pct rise in may 1986 statistics canada said
british banks resist signing mexico package seek more equitable contributions lloyds
dealers described 30 cents as a psychological barrier that was expected to be broken soon after a brief consolidation phase from recent gains
american pork congress kicks off tomorrow
angus said the prospectus for the sale of parts of chesebrough was due to be published shortly
banco di roma london branch has a certificate of deposit program in the market under which the securities are traded
west german railway issues domestic stock
bpcc planning sale of packaging operations
the planned offer for common stock holders calls for the company to exchange either 30 dlrs in cash or 35 dlrs principal amount of 13 pct subordinated debentures due september 1 1997 or one share of a new class b common stock for each class a share held arden group said
the 20 pct stake in moulinex sa mouppa sold by scovill inc of the us was spread among at least 50 institutional investors worldwide a spokesman for brokers james capel said
keihanshin real estate co ltd is issuing a 25 mln dlr equity warrant eurobond due april 27 1992 paying an indicated coupon of 2 1 4 pct and priced at par lead manager daiwa europe ltd said
one money market dealer said comments by bundesbank president karl otto poehl at a private seminar in duesseldorf two weeks ago hinting at another interest rate cut only indicated the bundesbank might act if conditions changed
volcker says fed policy not linked to rate rise
shr profit 20 cts vs loss 33 cts net profit 376470 vs loss 1555469 revs 3615550 vs 2896000 year shr profit 14 cts vs loss 66 cts net profit 382014 vs loss 1128160 revs 112 mln vs 110 mln
these curbs have pushed up oil prices from around eight dollars a barrel in mid 1986 to around 18 dlrs
the merger plan was announced in a midday news release that said the deal worth about 13 billion dlrs would be consummated july one when rhode island barriers to interstate banking outside of new england come down
holiday hia units notes downgraded by s p
canada real 4th qtr gdp rose 11 pct after 3rd qtr 11 pct rise official
sales proceeds 657 billion stg vs 881 billion duty and value added tax 184 billion vs 160 billion net proceeds 473 billion vs 721 billion net profit 757 mln vs 667 mln average capital employed 363 billion vs 371 billion capital and exploration expenditure 644 mln vs 618 mln cash surplus 423 mln vs 584 mln
the bourse bond index rose to 1173 last friday a rise of 19 against its level two weeks earlier
us production increased 11 pct after 20 pct in 1985 while in japan output contracted by 05 pct after rising 45 pct a year earlier
towle tow says common may be cancelled
there were no facilities for maize in the previous weekly grain export series
mickelberry said it will report a gain on the transaction
feds johnson warns us banks on ldc rigidity
ample supplies of opec crude weighing on world markets helped limit and then reverse oil price gains that followed the us strike on an iranian oil platform in the gulf earlier on monday analysts said
a ministry spokesman said the unadjusted figures showed a smaller than usual seasonal decrease for the time of year because of particularly cold weather delaying work in the building industry
gatt warns us on federal budget protectionism
the profit forecast allows for a dollar rate around current levels of just over three guilders
market forecasts centre on a 04 05 pct monthly rise in february and a year on year rate about 40 pct
timminco said universal adhesives will complement the companys canadian based industrial adhesives division and is a key step in its long term goal for expansion in the specialty chemical field
he put the uk intervention in the context of the louvre accord between leading industrial nations to stabilise the dollar partly through direct intervention on foreign exchanges
another negative cited for corporate bonds is the risk of hostile takeovers leveraged buyouts and sudden ratings declines that does not exist with treasury or federal agency securities
ics board earlier approved a plan to spin off the companys illinois central gulf railroad to shareholders
undersecretary of economic affairs robert ortner said that he believed the dollar at current levels was fairly priced against most european currencies
he said this was due to the sacking after the tin crisis of october 1985 of about 20000 of the 28000 workers at the state mining company comibol which produces more than 80 pct of bolivias total exports
it said these objectives were based on several assumptions including a four pct average inflation rate through 1989 and a two pct to three pct gnp real growth
s p downgrades four texas banks
chilis named goldman sachs and co and alex brown and sons inc as underwriters
harkin said his policy of high price supports would not ruin us agricultural exports as critics claim but would increase overall revenue from exports
he said spanish businessmen traditionally turned to the domestic market to satisfy rises in consumer demand while turning their backs on foreign markets
shultz welcomes tokyo economic package
finance ministers and central bankers of britain france canada and west germany were seen by correspondents returning to a treasury building
the sale was aborted when diazs presidential commission on good government sequestered the shares on suspicion they were owned by cojuangco a close associate of former president ferdinand marcos
while afgs participation in a 14 billion dlr bid for lear siegler inc was aggressive afg was mainly interested in lears profitable auto glass operations s and p noted
doe recommends special unit to enrich uranium
it said the sale of polyco of cincinnati ohio which makes polyvinyl acetate emulsions to rohm and haas co roh was announced by the buyer last month
bally manufacturing corps proposed public offering of 24 pct of its health and tennis corp unit is seen as the first step towards the sale of the entire unit analysts said
amstutz told subcommittee chairman rep
the average price of the one year bills was 94014 and the range was 94055 to 94004
standard and poors corp said it placed on creditwatch with developing implications allis chalmers corp because of the companys recapitalization plans and intention to sell most of its businesses
uk average gdp rises preliminary 26 pct in 1986 up 07 pct in 4th qtr official
ibc president leaves for producer meeting ibc
goulds pumps inc guld sets regular payout
last year royal trust moved into continental europe and asia with its 239 mln canadian dlr acquisition of dow chemical co dow s dow financial services corp which included asset management merchant and private banking companies
their initial sale to soriano through smc hong kong unit neptunia corp was blocked by the presidential commission on good government
the aguarico bridge was also close to the volcano he said
with total bahia crop estimates around 64 mln bags and sales standing at almost 62 mln there are a few hundred thousand bags still in the hands of farmers middlemen exporters and processors
mexican first qtr crude exports seen at 1525 dlrs
reading said it will be responsible for the demolition and cleanup of certain of the properties for which a portion of the cash proceeds will be escrowed
april futures traded this morning between 168 and 170 stg per tonne compared with pmbs average price of 104 stg
all other terms of the issue remain the same salomon said
kodak ek to cut polyester fiber operations
japan line selling tankers and bulkers
trade should show a one billion franc annual surplus this year and next after last years 05 billion surplus it added
however the president of the brazilian coffee institute jorio dauster said yesterday he had not yet decided when its registrations would reopen
creditanstalt arranges 100 mln stg cd program
one oil industry analyst concurred there is no reason to expect a weak market from now on he said he expected opec to raise prices to 20 dlrs when it meets on december 9
when the news came out they made session highs of 97 17 32 before slipping to 97 12 32
sucralose is essentially not metabollized by the body
the company said the actual price will be determined at the close based on net book value at may 31
certificates were also granted for the export of 15000 tonnes of maize at a maximum rebate of 13290 ecus per tonne the traders said
id be surprised if supply pushed us out of it the trading range lacey said
stage ii apparel corp initial public offering of one mln shares of common stock at an estimated 10 to 12 dlrs a share
proceeds will be used to increase working capital complete renovations at leased facilities and repay certain debts to southmark
a one billion stg issue of nine pct exchequer stock due 2002 which became available for trading only this morning was exhausted in mid afternoon trading on the uk government bond market dealers said
the latest offer will lapse on 17 april
but he added it will be a while before us exports fall to below 10 mln bushels a week from around 20 mln bushels currently
this will ease the cut throat competition which forced most yards to sign orders below cost the sources said
it would slow growth in germany and japan which would adversely affect our trade balance and ultimately it would drive interest rates up here which would throw us if not into recession into slower growth he said
it predicts that ec steel production will fall to 109 mln tonnes in 2000 from 1357 mln in 1985 with japanese production falling to 92 mln from 1053 mln
people who are outside shouldnt think theyve been saved once we get over 77 billion dlrs one warned
myers said the administration is proposing drastic changes in the sugar program because the current high price support is causing adverse trends in the sugar industry
last year the company had 257 mln dlrs operating profit or 76 cts per share up from 111 mln dlrs or 59 cts per share in 1985
brazils new economic plan should enable brazil to renew negotiations with creditors on its 111 billion dlr foreign debt within the next 30 days finance minister luiz carlos bresser pereira said
comb said the proposed warrants would carry an exercise price of 18125 dlrs a share
we dont want to make waves
the pilots earlier this week offered to buy the airline for 23 billion dlrs and assume 22 billion dlrs of existing debt
with german investors purchases of foreign securities steady around 13 billion marks only 22 billion marks were imported through securities transactions after 112 billion
note full name is western tele communications inc
belgian one day strike hits transport shipping
west german net currency reserves rose by 300 mln marks in the third week of march to 820 billion following a fall of 54 billion marks in the previous week the bundesbank said
american variety acquisition pact terminated
prior qtr and year figures exclude losses from discontinued operations of 19 mln dlrs or 88 cts per share and 23 mln dlrs or 107 dlrs per share respectively
laid off workers were bitter about the closure
groupe cantrex inc said it plans to merge a new wholly owned subsidiary a merger agreement with cap appliance purchasers inc of woodstock ontario a group of about 400 appliance and electronics retailers
laser precision corp lasr 4th qtr net
house speaker jim wright of texas one of the most influential proponents of aid for specific industries beset by low priced foreign competition last week renewed his call for import relief for the domestic oil industry and announced his support for a senate plan to trigger a temporary oil import tariff when imports reach half of domestic consumption
taiwan said it would soon relax import controls on some 400 foreign items including stationery and books in a further effort to allow trading partners especially the us greater access to its markets
fees for the bond total 2 1 4 pct with 1 1 2 points for selling and 1 3 4 for management and underwriting combined
corrected federal paper board co fbo payout
on april one it began consolidating sales marketing and manufacturing operations
the us senate has unanimously called for president reagan immediately to force japan to live up to a pledge to stop dumping its microchips and open its markets to us chipmakers
total futures and options turnover on the london international financial futures exchange liffe fell slightly during february although daily average eurodollar volume set a new record liffe said today
armtek corp formerly known as armstrong rubber co said it signed agreements with condere corp for the sale of its natchez miss
gross fees of 1 1 2 pct comprise 1 2 pct for management and underwriting combined and one pct for selling
malaysia advised to raise crude oil output in 1988
the commodity credit corporation ccc has accepted a bid for an export bonus to cover the sale of 380 head of dairy cattle to kuwait the us agriculture department said
dixons initially ended its 9025 dlr a share tender offer on march 17 after receiving 54 pct of cyclops shares
argentina has already committed four mln tonnes of this years corn for export a usda official said with two mln tonnes of that booked for april june delivery to the ussr
varity corp year shr loss 21 cts vs loss 16 cts
under the agreement each outstanding share of unicoa common stock will be converted into one share of united common stock
german february industrial output rises 32 pct january fall 34 pct official
the terms of the new issue are seen drawing firm domestic and foreign demand especially since the yield premium on dutch long maturities has grown to 045 pct over similar mark issues
845 billion cash flow 956 mln francs vs
miguel alfaro president of the agricultural league of the sugar cane industry said the sale follows a recent 50 pct cut in costa ricas quota for sugar exports to the us alfaro said up to 45000 tonnes of sugar could be exported to the soviet union this year under the deal which is similar to one the soviets made recently with the dominican republic
the liquidity is the reason for the recent boom of stock exchange prices the bank official said
after satisfaction of its liabilities and obligations the trust would make a second distribution to its beneficiaries of any remaining cash on or about april 29
note net is after tax 1047 mln vs 727 mln interest 258 mln vs 955 mln depreciation 506 mln vs 761 mln and minorities nil vs same
union carbide sold its battery products home and automobile products and agricultural products businesses in 1986
statoil boosted output at its gullfaks field to 109670 bpd in september compared with 100188 in august
cellular communications commo closes buyout
speaking at a meeting for securities analysts douglas danforth westinghouses chairman said the companys sales growth target is about 85 pct a year for 1988 and 1989 given an economic environment that remains on a moderate growth course he also said the company will make acquisitions but he did not specify particular targets
other companies to be sold to the private sector in the near future are television network tf 1 later this month and banking group cie financiere de suez fspppa in the autumn
i think brazil will pay its debts in the long run
but there are still obstacles to trading on the london market
the san diego based bank said in a prepared release of its report to analysts here that the gains included 66 mln dlrs in arbitrage profits from the premium paid for the separation of interest and principal components of new federal national mortgage association strip securities
turkey thailand south korea and canada were the major buyers for the current season while thailand britain and japan were the major purchasers from the upcoming season the department said
the large amount of paper brought to the market in the last two months has also led many syndicate managers to complain about the bundesbanks present fixed calendar system which they say is too inflexible
cargill official defends certificate programs
in a filing with the securities and exchange commission the group which includes shamrock associates included a march 6 letter to prime which asks for a complete list of all shareholders and their addresses
the tax which would apply on both domestically produced and imported oils and fats has been fiercely opposed by the united states and developing countries vegetable and marine oil producers
occidental oxy sells 33 mln common shares
liberty financial announces merger with equimark
the smelter was shut down january 26 after anti government guerrillas dynamited two electricity towers which transmit power to the plant from the afobaka dam
viacom international inc said national amusements inc has again raised the value of its offer for viacoms publicly held stock
four of west germanys five leading economic research institutes warned that excessive monetary growth threatened a resurgence of inflation
shr loss two cts vs profit six cts net loss 103000 vs profit 319000 revs 4357000 vs 6494000 avg shrs 5415185 vs 5646185 year shr profit 22 cts vs profit 10 cts net profit 1236000 vs profit 570000 revs 222 mln vs 248 mln avg shrs 5638596 vs 5646185 note 1986 net includes tax credits of 30400 dlrs in quartger and 58000 dlrs in year
this operation enables us to take up a solid position in west germany ahead of spains full integration into the ecs financial system in five years time the deal included the license for visa credit cards
french january m 3 money supply rises one pct
national tech had sales of about 23 mln dlrs for 1986 it said
american stores co asc 4th qtr net
pueblo international inc pii sets payout
nippon oil sees sharply lower sales and profits
in a filing with the securities and exchange commission mitchell hutchins said it bought 11900 shares between jan 8 and feb 24 at prices ranging from 12125 to 1275 dlrs a share and obtained voting control over another 12000 shares
we didnt feel a lot was accomplished last week but we were delighted to meet with the secretary and he didnt close the door on anything a member of the soybean delegation said
the fed noted the securities industry association a trade association of the investment banking industry had opposed chase manhattans application for more powers
cistron biotechnology inc said it will pay a stock dividend declared prior to the initial public offering of its common stock in august 1986 to stockholders of record prior to the common offering
today gencorp closed at 114 1 4 up 1 5 8
the competitiveness between different oils whether ec produced or imported would remain unchanged and quantities imported from third countries would not be affected by the tax tanghe said
financial trustco capital ltd hikes payout
he said seoul would try to limit its current account surplus to around five billion dlrs a year for the next few years although trade volume would continue to grow
over the year business volume rose by 99 pct to 932 billion marks compared with 1985 seipp added
the monthly rise in the all items index base 1980 was 13 pct to 2734 in september after edging up to 2700 in august
my advisers felt that had i given you advance notice you would have used the time to throw up obstacles to my offer rather than giving it serious consideration he said
the february invisible trade surplus rose to 109 mln dlrs from 24 mln in january and compared with a deficit of 74 mln a year ago
y dlrs per cwt 100 lbs na not available
thatcher said this policy had not contributed to the fall in oil prices as north sea production was now about the same as in 1984 when prices were close to 30 dlrs a barrel
the usda monthly cold storage report for meats is expected to have little if any effect on livestock and meat futures at the chicago mercantile exchange monday and daily fundamentals will likely provide the bulk of direction livestock analysts said
price rises accellerated for logs and timber and tobacco but fell for cotton metal ores and copper and aluminum scrap
he added that west german growth forecasts would have to be revised downward because of the recent dollar drop to 180 marks from above two marks at the start of 1987
affandi told reporters stocks fe27l to as low as 159000 tonnes at the beginning of 1987
under the pact japan pledged to stop dumping microchips in the us and asia and open its domestic market to us semiconductors
bhp sees strong fourth quarter but lower year net
the bank of england said it had given the money market a further 485 mln stg assistance in the afternoon session
analyst craig sloane said european currencies will likely move to the higher end of their 1987 ranges after todays sharp advance
the company said it ended the deal in which fujitsu would have bought 80 pct of fairchild for an estimated 200 mln dlrs because rising opposition to the deal by the reagan administration made it unlikely that the sale could be completed within a reasonable period of time
while the option may be unpalatable to the us banks it could offer others a potential repayment of slightly more than half their investment over the next seven years
the financing for the offer includes the 250 mln dlrs in equity from general partners the 125 billion dlr loan from shearson lehman brothers a senior subordinated bridge loan for which a binding agreement can be delivered within 24 hours after a request from the partnership and the one billion dlr credit line from wells fargo
cordovez said ecuador would seek new loans from multilateral organisations
oats in mln bushels 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 yield bu 560 560 637 637 start stcks 184 184 180 180 production 385 385 521 521 imports 30 30 28 28 total 598 598 729 729 oats in mln bushels cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage feed 400 400 460 460 other 85 85 83 83 ttl domes 485 485 543 543 exports 2 2 2 2 total 487 487 545 545 end stcks 111 111 184 184 avgprice 100 20 100 20 123 123 note average price in dlrs per bushel
anvet inc said it filed with the securities and exchange commission a registration statement for a proposed public offering of 150 mln dlrs of convertible subordinated debentures due 2012
the gross national product gnp of the 24 nation bloc of western industrialised countries is forecast to grow by only 225 pct both this year and next even slower than last years 25 pct growth rate
world bank president barber conable called on japan to boost investment in developing nations for its own sake as well as that of the world economy
sumita said he could not find any specific reasons behind the fall of the dollar to a record low against the yen yesterday
labatt said it would use proceeds to repay short term loans and for general corporate purposes
a turnaround in grain merchandising was a major factor in profit improvement for the nine months pillsbury said
stokely usa inc stky regular dividend set
a tender offer for the outstanding shares will be launched also at 30 dlrs a share for a maximum further cost of 1844 mln
management fee is 25 basis points
peru announces large new gold find
us may drop tariffs if japan opens yeutter
general partners sells gencorp gy stake
french farmers plan to cut maize plantings
the data showed that the stock grew at an annualized 86 pct over the six months to february slower than the 94 pct rise in the same period to january
full name of company commonwealth mortgage of america
furthermore in assessing the trade impact of programs credit could be given to countries which effectively control the output of farm products the papers said
the federal reserve entered the us government securities market to arrange 15 billion dlrs of customer repurchase agreements a fed spokesman said
he said oil industry aid is needed because exploration and development spending dropped by at least 50 pct since world oil prices fell during the first half of 1986
the price was last changed september 9 unocal said
it did not immediately disclose the affect of the change on prior years results
the estimates on the street narrow it down to between 110 mln dlrs and 130 mln dlrs harlow added
the debentures will be sold through a syndicate of underwriters managed by salomon brothers inc and first boston corp
echlin ech expects continued profit growth
chairman gordon cain who previously led a leveraged buyout of duponts conoco incs chemical business has spent 11 billion dlrs since january to buy seven petrochemical plants along the texas gulf coast
first city bancorp of texas which lost a record 402 mln dlrs in 1986 said in its annual report it expected operating losses to continue for the foreseeable future as it continues to search for additional capital or a merger partner
it said the estimates reflect a decrease of about 44 pct in net reserve revenues and 39 pct in discounted present value compared with the study made in 1985
shr 62 cts vs 58 cts qtly div 13 1 2 cts vs 13 1 2 cts prior net 388 mln vs 357 mln revs 118 billion vs one billion six mths shr 84 cts vs 86 cts net 52 mln vs 529 mln revs 214 billion vs 182 billion note results include charge of four cts shr for latest six mths vs credit of five cts shr for prior six mths from investment tax credit dividend payable june 12 record may 21
it said the increase is in addition to a previously announced seven cts a pound solids increase effective march one
gareth lewis davies a north sea expert with stockbrokers wood mackenzie and co inc in edinburgh thought the two reliefs on prt would help the depressed offshore industry
philippines liquidity rises loan demand falls
the federal communications commission has already approved the stations sale
meritor savings bank launches 200 mln dlr bond
to partly address this requirement many expect the fed to add permanent reserves with effect next thursday by offering to buy all maturities of treasury bills on wednesday
current year figures include security gain of 46 mln dlrs or 64 cts per share vs gain of 415 mln dlrs or 583 dlrs per share
bp has been owner of a 55 pct stake in standard for several years
shr 345p vs 245p adjusted div 19p making 29p vs 248p adjusted pretax profit 1781 mln vs 1101 mln tax and minorities 605 mln vs 327 mln profit attributable 1176 mln vs 774 mln pretax profit includes long term business 1455 mln vs 1377 mln general insurance business underwriting loss 999 mln vs 1316 mln investment income 948 mln vs 782 mln trading loss 51 mln vs 534 mln investment management uk 64 mln vs 16 mln shareholders other income 313 mln vs 242 mln pretax profit by division includes uk individual division 971 mln vs 895 mln uk group pensions 105 mln vs 106 mln international 134 mln vs 124 mln mercantile and general 245 mln vs 252 mln prudential portfolio managers 64 mln vs 16 mln prudential property services 21 mln loss vs nil
s and p cited continued lower operating earnings and rising nonperforming assets and charge offs for mellon
he said siemens is now proposing that 25 mln dlrs be added to the 21 mln dlrs to be paid in 11 months
the public sector borrowing requirement psbr contracted by 300 mln stg after a contraction of 37 billion stg in january
under the three year evergreen facility which can be extended annually notes will be issued by its subsidiaries goodman fielder new zealand ltd and goodman fielder industries ltd and guaranteed by the parent company
lilly said it retained morgan stanley and co to help evaluate offers
shipments of the 3090 mainframes were very strong in march after a weak january and february said ulric weil of washington based weil and associates
gevirtz also declined to predict full year results but said we expect an excellent year in 1986 foothill earned 3239000 dlrs or 41 cts per share
it said the debentures which will be priced at 100 pct will have interest payable semi annually and be convertible into common after april 30 1987 at seven dlrs a share
previously the fed said consumer credit rose 536 mln dlrs in january
after providing for the final dividend retained earnings were 8007 mln vs 2990 mln in 1985
last july the interstate commerce commission icc denied the merger on anticompetitive grounds
ecuador deputy minister seeks oil aid in venezuela
the rally in oil prices this week came after prices fell in february more than two dlrs from its high of 1825 dlrs a barrel
the wine business was sold last month for 128 mln dlrs to heublein inc part of grand metropolitan plc national distillers said
a hormel and co said its directors voted a two for one split payable june one record april 18
indonesias main crop is harvested next month
it said the state oil firm corporacion estatal petrolera ecuatoriana cepe notified foreign customers that it was declaring force majeure on its crude exports due to the tremor
most japanese politicians including finance minister kiichi miyazawa are clearly hoping the yen will weaken government officials said
mem com inc mem 4th qtr net
as a results of its restructuring the number of employees the company had at year end were 820 compared with 1300 on june 30 1986 and 2500 on january 1 1985
the us department of transportation dot said it dismissed on technical grounds an application by trans world airlines inc for dot approval for it to take control of usair group
the company also said it plans to increase the size of its rental fleet in the year ending january 31 by 20 to 25 pct and expand its rental office network
the notes themselves have a 3 3 8 pct coupon and are priced at par
and f
the federal home loan bank board said home mortgage rates fell from early february to early march to their lowest point in nine years but the rate of decline was slower than it had been in recent months
argentine grain shipping situation
shr 65 cts vs 10 cts net 55960000 vs 8785000 revs 5882 mln vs 5961 mln avg shrs 85710000 vs 87987000 nine mths shr 124 dlrs vs 44 cts net 106738000 vs 39055000 revs 198 billion vs 224 billion avg shrs 86320000 vs 88007000 note 1986 data restated for adoption of new accounting standard relating to pensions 1987 nine month earnings include 331 mln dlr after tax writeoff in the 4th qtr of 1985 of a portion of the assets of the companys midland nuclear project
xuto said i welcome the friendly and cooperative atmosphere that has prevailed without interruption since the talks began last monday
the statement said further progress has been made in the 1986 87 rescheduling of medium term public sector debt and outstanding letter of credit claims
first of america bank inc fabko 1st qtr net
the reporting of the february trade data was delayed several weeks to permit gathering latest figures on imports and exports to give a clearer picture of the monthly trade balance
the sources said there had been no bids for licences for free market soft wheat and non spanish barley exports to non ec countries
what has helped the canadian currency she noted is an increasing proportion of foreign funds flowing into the canadian equity market particularly from japanese investors
shr loss four cts vs loss seven cts net loss 267000 vs loss 445000 revs 6407000 vs 7428000 note full name is thor energy resources inc
but in the eastern states the wheat area should hold up provided that rainfall between now and june is not less than average awf said
sithe to raise energy factors efac stake
us officials had been meeting on a response since friday when an attack on a kuwaiti port severely damaged a us flagged ship
foreign currency futures markets would not be harmed if the leading industrial countries agreed to restrict currency movements to within a narrow band said leo melamed chairman of the chicago mercantile exchanges cme executive committee
china sulphur iron mine starts production
evans and southerland computer corp is raising 50 mln dlrs through an offering of convertible subordinated debentures due 2012 with a 6 1 2 pct coupon and par pricing said sole manager hambrecht and quist inc
maybe theres a need to move faster one source said
the new york times also said gwinnett county a northeast suburb of atlanta is the fastest growing county in the country
us urges restraint in aegean
the company said it may sell the securities through underwriters who may include goldman sachs and co or directly to other purchasers
the recent round of monetary accommodation by the bundesbank and the bank of japan and the firming of the federal funds rate are significant
the charges resulted in nine month share loss of 244 dlrs and 12 month share loss of 168 dlrs
ultramar plc umarl said it had reached agreement in principle to sell its wholly owned uk marketing companies to kuwait petroleum corp for around 50 mln stg
shr 13 cts vs 40 cts net 2509000 vs 7582000 revs 1862 mln vs 1821 mln year shr 23 cts vs 95 cts net 4318000 vs 178 mln revs 5648 mln vs 5844 mln
rjr nabisco incs rj reynolds tobacco usa unit said it reached a definitive agreement to sell winchester little cigar business to tobacco exporters international usa ltd of atlanta the us subsidiary of rothmans international plc
pakistans decision to suspend tea import licences will hurt kenyan tea exports in the short term while exporters seek new markets sources close to nairobi broking houses and exporters said
but surprisingly the challenges now appear to be coming from the other side of the world they said
exports in the first four months were worth 269 billion dlrs compared with imports of 392 billion
non callable for five years the issue is rated a 3 by moodys investors service inc and a by standard and poors corp
dan glickman d kan also would increase funding for the program to 25 billion dlrs from 15 billion now
the fed said it felt there would be no violation of banking laws provided that chase manhattan restricted its commercial paper activities to five pct of its income and five pct of total market share
paice did not give a crop estimate but the awbs february wheat australia publication put the crop at 167 mln tonnes
but it is too early to say what happened he told bbc radio
it said subject to approval by nichols shareholders and regulatory authorities the transaction is expected to be completed later this year
albani will continue as chief operating officer said an allegheny spokesman
bank negara said it does not intend to hold on to the shares of the two banks
the sources said japanese companies had been lifting a total of about 185000 barrels per day bpd of iranian crude under term contracts but only one firm has agreed to lift in the second quarter
tunisia is expected to tender shortly for 100000 tonnes of soft wheat for shipment between april and june covered by coface export credits trade sources said
2 the ministers and governors reaffirmed the commitment to the cooperative approach agreed at the recent paris meeting and noted the progress achieved in implementing the undertakings embodied in the louvre agreement
both offers would pay shareholders a package of securities for the balance of their shares valued at the respective tender offer prices
one japanese refiner said at the moment theres a lot of pressure on opec particularly on qatar
under ongpins rescheduling plan the philippines would offer to make interest payments in cash at 5 8 pct over the london interbank offered rate
president jose sarneys government despatched troops to brazils ports and oil installations on tuesday
john makin of the american enterprise institute suggested foreign tax cuts to increase demand and pick up the slack from the us trade deficit fall
blair said that any move to put domes financial house in order will remove one of the general problems of attitude that have hung over western canadian industry he added however that the energy industry still faced a couple of tough tough additional years asked about novas 1987 prospects blair predicted that novas net profit would rise this year to more than 150 mln dlrs from last years net profit of 1002 mln dlrs due to improved product prices and continued cost cutting
eep should be used tactically yeutter says
national distillers and chemical dr expanding
smc also proposed to sell a further five mln shares to an soriano corp the family company of san miguel president andres soriano del rosario said
earlier the bank had estimated the shortage in the system today at around 115 billion stg
he said it will allow foreign creditors to convert unpaid private sector debts into bolivar denominated shares of stock in the debtor companies
rocky mount recorded net income of 248000 dlrs or eight cts per share for the first quarter of fiscal 1986
commenting on the prime rate increases us treasury secretary james baker told a house appropriations committee that i hope it was a temporary blip upward among the major banks which today announced prime rate increases to 7 3 4 pct were bankers trust chemical bank continental illinois national bank harris trust and savings bank irving trust manufacturers hanover trust co marine midland and security pacific national bank
the zambian government today announced minor price cuts for essential commodities as part of its new economic strategy while police and troops patrolled the northern copperbelt to prevent any outbreaks of rioting
royal dutch shell group rdas earnings for 1986 from the us fell sharply because of difficult market conditions lower crude and gas prices and also due to different accounting methods shell chairman peter holmes said
national gypsum said that the new credit agreement will convert in 1990 to a term loan that will be amortized over four years
the program allows the danish bank to issue euro certificates of deposit with maturities of up to 365 days
taiwan passed on its tender overnight for 25000 tonnes of us corn and 49000 tonnes us sorghum private export sources said
a new catalytic cracker at shells stanlow refinery will now come on stream by the end of first quarter 1988 about five months behind schedule following a crane accident which severely damaged the plant last year he said
alliance financial corp alfl dividend set
while the measure does not bind reagan to any action senate leaders said its adoption would warn japan stiffer legislation would be considered if the violations continue
the employers had invited the unions for talks later today but details of the labour agreement would not be on the agenda van der vorm said
in december cpc acquired arnold foods and old london for a total of about 170 mln dlrs
kaufman said unlike paul volcker who entered the office of the federal reserve chairman with strong credibility both domestically and internationally mr greenspan will have to demonstrate both his competence and policy independence before he can gain full confidence of the financial markets greenspan is most knowledgeable on the behavior of the us economy while his professional skills in the international area are much more limited kaufman noted
in announcing the transaction computerland said the acquisition will provide it with resources and support to maintain and expand its leadership position in the computer retail industry
bundesbank central bank council member lothar mueller said the bundesbank had not given up its focus on money supply
the pcgg sources said of the proposed 479 billion peso transaction 16 billion pesos would be offset against the 500 mln peso down payment the 500 mln pesos worth of preferred shares in ucpb held by smc 210 mln pesos in uncollected dividends on the ucpb shares and 400 mln pesos advanced to ucpb controlled trading companies
to balance the costs of imported malt heinken launched on the nigerian market a new beer made of 50 pct sorghum which had sold successfully coebergh said
the president authorised the national foreign trade council conex to resume operating as the ruling body of brazils trade policy with participation of the private sector
dinner bell dinbo leverage buy out dropped
winds today will be southwest at 30 to 60 mph but will become west to northwest tonight and saturday at 25 to 50 mph
murphy oil said it proposing to acquire remaining 23 pct of canadian subsidiary
lamson and sessions co lms 4th qtr loss
he said it would take four or five months to bring operations up to full capacity if the company decides to do so adding that he believes there is a good chance noranda will fully reopen the mine
wheat season begins june 1
political and economic analysts in brazil believe the payment suspension will give new impetus to tackling the regional crisis though they expect protracted negotiations a view echoed by senior international bank officials
lvi group inc lvi 4th qtr oper net
hewlett packard said it cut the price for its vectra pc model 50 to 3995 dlrs from 4695 dlrs and lowered the price for its model 60 to 4795 dlrs from 5495 dlrs
renault currently holds about 46 pct of amc
computer terminal said sedio also has the right to buy additional shares and increase its total holdings up to 40 pct of the computer terminals outstanding common stock under certain circumstances involving change of control at the company
us television networks said on monday that us forces launched a retaliatory strike against iran late sunday apparently attacking two iranian offshore oil drilling platforms
the bell group ltd bllas said it will make two convertible bond issues totalling 200 mln dlrs
accepting share and note holders will participate in agls planned one for one bonus issue
under the new accord the standstill will be extended for three years to june 30 1990
in order to renovate the crowded financial futures pits exchange officials have discussed providing them a temporary home next door in the present grains dominated area
the attack was near magangue in northeastern bolivar province
australian trade minister john dawkins said if the general agreement on tariffs and trade gatt does not give high priority to agricultural trade reform it will be neglecting the area of greatest crisis
napa valley bancorp nvbc 1st qtr net
datarex drx to sell 3m mmm computer gear
indonesia imports palm oil to counter possible may shortage trade minister says
the papua new guinea government will establish a public corporation to invest in resources projects minerals and energy minister john kaputin said
the oecd outlook said continued large current account surpluses and the further build up of an already substantial net external asset position could well lead to upward pressure on the yen it said that further appreciation could then lead manufacturers to postpone their investment plans and thus weaken domestic growth
city resources is controlled by city resources ltd of australia
the company said mcc shareholders would have a 25 pct stake in the combined company and would receive a cash distribution of about 35 cts per share
chase manhattan corp cmb and jp morgan cos jpm morgan guaranty trust co asked for deposits to cover transactions it said
the field in the southern sector of the gulf of thailand is currently operated by us oil company texas pacific oil co inc a unit of canadas seagram co ltd von thailands state oil company petroleum authority thailand ptt also holds a major stake in the field
the sources would not reveal the amount of the fee which will be noted in documents on the transaction to be made public later this week
bank figures showed the increase was almost exclusively in the specific bad risk provision which qualifies for uk tax breaks
varity vat expects 4th qtr full year loss
the convertible offer would be on the basis of four williams convertibles for every norcros share worth 428p a share
japanese finance minister kiichi miyazawa said the group of seven g 7 nations still support the louvre accord to stabilise currencies
analysts said the standard investment is extremely attractive to bp because the us is the largest oil market and has hard to replace reserves
at this time last year it operated 4100 specialty stores garofalo said
international power machines pwr 4th qtr loss
the notes which are guaranteed by sumitomo bank ltd can be called at 101 1 2 from september 27 1989
details of the transaction were not disclosed
cross whose investor group includes his wife mary said they already hold 261650 harper and row common shares or 60 pct of the total outstanding common stock
brougher said it expects to realize a net after tax gain of approximately 330000 dlrs or 12 cts per share from issuing stock of intercontinental
a company spokesman would not comment on the total order value but said the new vessel would replace the 33333 dwt sydney express in 1989 and would carry 2700 container units
texstyrene foam suspends preferred payments
systems for health care inc year loss
magellan petroleum corp mpet 3rd qtr jan 31
general acquisition co comprising investors wagner and brown and glass maker afg industries also reiterated its willingness to negotiate with gencorp
the intervention took place when the dollar fell to 14320 yen one dealer said
malaysia the worlds top producer acted as spokesman for producers at the talks which began on march 9
the results of a controversial study of farm subsidies conducted by the paris based organisation for economic cooperation and development oecd show japan has the highest agriculture subsidies in the world and that dairy farmers benefit more than any other commodity producers from subsidies
unicorp canada unia cuts purolator pcc stake
the plane made by mcdonnell douglas corp mdn cost 18 mln dlrs and was one of 19 dc 9s in garudas fleet of 74 jets
lower interest rates seen following irish budget
your propaganda and missstatements will not panic our board dart in its previous letter had alleged that supermarkets general executives were seeking millions of dollar in severance and tax payments from dart
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
it said it must also issue warrants for the purchase of three mln common shares at a price of 450 dlrs a share or 33 pct over the market price on the day before the notice of redemption whichever is greater
but in a dissenting view the diw institute in west berlin echoing recent statements by leading bundesbank officials said the expansion seen over the last 1 1 2 years did not necessarily threaten stability
the initiative while widely heralded as a good first step toward improving the the growing debt crisis was viewed by some at the imf as a rebuke of previous austerity measures insisted upon by the fund in return for loans
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
japans livestock industry promotion corp lipc said that on april 28 it will import 7515 tonnes of beef for the first half of the 1987 fiscal year started on april 1 under the simultaneous buy and sell tender system against 6813 a year ago
co lead manager is mitsubishi finance international ltd
primary metals rose to 677 pct from 667 pct in january
bi inc biac sets reverse split
joensson of goldman sachs said there was a lot of demand even among small investors who were buying 15 or 20 warrants apiece
the implied senior secured debt rating is bb
monetary and diplomatic sources said there are no signs any new debt initiative of the sort that treasury secretary james baker unveiled 18 months ago in seoul is in the works
available evidence suggests that corporate customers including non bank financial institutions have been exploiting differences between interest rates on overdrafts with trading banks and rates in the call market russell said
terms of the sale were not disclosed
bhp petroleum americas inc formerly part of utah international will become a subsidiary of bhps renamed bhp petroleum international now bhp petroleum pty ltd the company said
ec oils tax no longer major issue association
shr 24 cts vs four cts net 663000 vs 109000 sales 205 mln vs 139 mln six mths shr 48 cts vs nine cts net 1311000 vs 255000 sales 432 mln vs 300 mln avg shrs 2719205 vs 2804048
but strategic diversification into downstream operations in europe several years ago and a hefty refining investment at home gives it guaranteed markets abroad and enables it to sell over one half of its output as high grade refined oil products
lichtblau speaking at an alternative energy conference here said the us may depend on foreign suppliers for as much as 52 pct of its oil by 1995 surpasssing the previous high level of 47 pct in 1977
speculation has continued for several days that the us is considering making an export bonus wheat subsidy offer to the soviets but us officials have provided no confirmation
average price was 98307
this was the same formula used in the text of the louvre accord he noted
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
the tankoku mature on september 21 1987
political deadlock is reflected in the pounds position
shr 18 cts vs 15 cts net 387000 vs 240000 sales 9346000 vs 8579000 avg shrs 2200000 vs 1600000 1st half shr 36 cts vs 26 cts net 734000 vs 410000 sales 184 mln vs 172 mln avg shrs 2051648 vs 1600000
scotts hospitality inc said it acquired capital food services ltd ottawas largest catering and food service company for undisclosed terms
sama decreased the offer price on the 900 mln riyal issue to 9950586 from 9951953 last saturday
without intervention the collaspe of trailways is imminent said fred currey chairman and president of greyhound
morrison knudsen mrn gets army contract
burns pauli and co inc co managed the deal
shr 28 cts vs 41 cts net 205000 vs 229000 nine mths shr 86 cts vs 101 dlrs net 622000 vs 566000 note share reflects issuance of 166750 common shares in december 1986
qtly div 11 cts vs 11 cts prior pay june 15 record may 15
us business loans fall 660 mln dlrs in march 11 week fed says
all counties in iowa will be affected as will counties which use the gulf to price corn in illinois indiana tennessee kentucky missouri mississippi arkansas alabama and louisiana said ron burgess deputy director of commodity operations division for the usda
speaking to reporters during weekend trials for the new ax sports model he said all the budgetary forecasts that we have been able to make show a relatively significant improvement in 1987 compared with 1986 he added
non interest bearing sight deposits rose by 460 mln stg after a 15 billion stg fall in january and interest bearing deposits fell 200 mln stg after a 16 billion rise in january
market discounts higher soviet grain imports
norway issues 60 billion yen eurobond
kidnapped japanese businessman nobuyuki wakaoji has been released after four months in captivity presidential spokesman teodoro benigno said
south korean trade minister rha woong bae said his nation would maintain a trading surplus for three to five years as a way to cut its foreign debt
the debt is rated a 2 by moodys and a by s and p
kuranari was widely expected to fly to washington tomorrow for talks focussing on trade
shr 52 cts vs 51 cts net 165 mln vs 162 mln revs 8702 mln vs 8007 mln year shr 148 dlrs vs 129 dlrs net 473 mln vs 410 mln revs 353 billion vs 310 billion avg shrs 31867658 vs 31831050
it should be taking the average of the gulf price and the price in kansas city which would more closely reflect the lower prices in the interior midwest
for six months the yield was 607 pct and the bids were at 580 pct
one convertible dealer said were waiting to see the result of todays court hearing texaco is applying today in the texas courts for relief from having to post the court bond
traders are stocking up and when they have overbought the prices will start declining again
the same factors produced a two billion shilling balance of payments surplus and inflation fell to 56 pct from 107 pct in 1985 he added
because it was a voluntary deal many bankers feel strongly that the orginal terms must be adhered to
the board completed reports on stock verification and the next regular board session will be in indonesia june 1 5 delegates said
avon products inc the diversifed conglomerate that had a strong turn around in 1986 said it expects sales and earnings to climb higher this year
moodys may downgrade afg afg gencorp gy 
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
we were forced to pay a temporary price in the form of slower earnings growth and a lower rating by the investment community
but it said growth may be higher in added value products in financial services and in other diversified businesses
merrill lynch said its new asset mix report due today will urge weightings of 50 pct stock 35 pct bonds and 15 pct cash versus 40 pct bonds 35 pct stock and 25 pct cash previously
analysts have said sgl management may be considering a leveraged buyout
chemical bank cuts prime rate to 925 pct from 975 pct effective immediately
land securities plc is issuing a 100 mln stg eurobond due april 29 2007 with a 9 1 2 pct coupon and priced at 95 3 4 lead manager j
britain calls on japan to increase imports
it means that since there will be a net drain on oda official development assistance accounts the commercial banking system will be requested to hold the line he said
the wells flowing oil from the keg river formation will be constrained to combined production of about 450 barrels a day to optimize reserve recovery the company said
i think steel prices on a bookings basis will start to drop by the summer he said
but its jumping to conclusions to extrapolate this report into the future a 07 pct increase in disposable personal income in january which may be linked to the new tax laws probably helped boost spending in february he said
the quarterly cash dividend payable april 15 to stockholders of record on april 3 is to be paid on hydraulics pre split shares that are currently outstanding the company said
producers also wanted a free rubber market without the overhang of a 360000 tonne inra buffer stock which had psychologically prevented price rises he said
they also said there was a growing feeling among the finance ministers and central bankers that cooperation over medium term policies has replaced the bickering over short term differences in past meetings
the issue was lead managed by ibj international ltd and was quoted on the grey market at less 1 7 8 less 1 3 4 pct compared with the total fees of 1 7 8 pct
programs and procedures need to be simplified streamlined and internally consistent he said
s african consumer price inflation rises slightly
the figures showed that five republics produced less than in the first two months of 1986
hopes of a cut were dashed on tuesday with an allocation at an unchanged 380 pct
american travellers atvc to make acquisition
the new rate if unmatched by other banks will be the lowest among australian trading banks
etl chairman allan hawkins said in the statement that the shareholding in monier was a long term investment
the companies said with the merger nolan now will be known as nolan norton and co partners the information technology arm of peat marwick
the agency said beneficials consumer finance business remains strong and has the capacity to withstand foreseeable adverse developments
rexnord inc 96 pct owned by banner industries inc bnr following a recent tender offer said it has completed the sale of its fairfield manufacturing co subsidiary to neoax inc for 705 mln dlrs in cash
along with the 1449550 units already held by renouf it now owns 934 pct of the 5745706 units outstanding
shr loss primary 82 cts vs profit 15 cts shr loss diluted 82 cts vs 13 cts net loss 4134000 vs profit 649000 avg shrs 5030000 vs 3927000 nine mths shr loss primary 80 cts vs profit 37 cts shr loss diluted 80 cts vs 32 cts net loss 3615000 vs profit 1652000 avg shrs 4557000 vs 3927000 loans 2312 mln vs 2215 mln deposits 3233 mln vs 2819 mln assets 3683 mln vs 3465 mln note prior qtr and nine mth figures include operating loss carryforward gains of 105000 dlrs or two cts per share and 195000 dlrs or four cts per share respectively
exxon also said that it acquired 112 mln acres for expoloration spread over 10 countries including the us europe and the far east
yet the ecu is now around 1734 yen
exco buys us government securities broker
carolin also said it expects to receive results of further tests and assays of the tailings within two to three weeks
endotronics inc said it is the target of a formal private investigation by the securities and exchange commission as well as the federal bureau of investigation
however the institute said inflation would fall back to 25 pct at the end of 1988 provided that real wage costs remain within the framework of productivity rises
he declined comment on local press reports that us lines planned to suspend operations because of failure to restructure its 127 billion us dlr debt but said the firm would make an announcement later today
because the coins were classified as legal tender their purchase did not show up in the statistics on consumer expenditure
santos alvite who arrived in caracas last night to discuss an aid plan for ecuador did not say when the organisation of petroleum exporting countries opec would be approached
wr grace gra debt affirmed by s p
waste management inc said its directors approved a may 10 accord with modulaire industries modxo under which waste management would acquire modulaire
fed adds reserves via customer repurchases
he said he hoped the visit which is to have trade as a major issue would be productive but i dont see any practical way to resolve this particular dispute before or during his visit
treasury bills advanced on the week
value line inc valu 3rd qtr jan 31
hutton is still a takeover candidate said eckenfelder
the company named thomson mckinnon securities inc as lead manager and painewebber inc as co manager of the offering
utilicorp ucu seeks to split stock
the atpc consists of malaysia indonesia thailand bolivia australia nigeria and zaire
centuri inc cent year net
yugoslav retail prices in march rose 70 pct from february to stand 932 pct higher than in march 1986 federal statistics office fso figures show
brokers barclays de zoete wedd bzw sees 155 mln profit for 1987
a cash balance of some 250 mln dlrs and a stock of almost 100000 tonnes of cocoa enough to mount large buying or selling operations were carried forward from the previous agreement
chuan hup issues 28 mln dlr frn
fortune systems corp and sci systems inc said they signed a letter of intent covering the purchase of fortunes microcomputer business assets for an unspecified amount of cash
hilton hlt sees improved first quarter profits
miyazawa said any change in economic conditions since the paris accord was not worth being called fundamental
iel itself is 51 pct owned by brierley investments ltd of new zealand merrill lynch said
healthvest hvt declares three week dividend
shr 51 cts vs 42 cts net 203 mln vs 167 mln sales 2169 mln vs 1845 mln nine mths shr 147 dlrs vs 121 dlrs net 582 mln vs 476 mln sales 6112 mln vs 5470 mln
but he said there was a need to spell out government policy especially on prices
thai and foreign bankers said the liquidity problem will grow if the bank of thailand does not extend permission for local banks to hold foreign exchange positions up to 40 pct of bank capital
gros said negotiations with the commercial creditors would start within two weeks when he and finance minister dilson funaro attend council meetings of the international monetary fund imf in washington
the ec and the us realised the tax issue would stay on the agenda for several months and there were indications that both sides would have to prepare for some tough negotiations the spokesman said
it also said the upgrades were the fewest since early 1986
new applications for unemployment insurance benefits rose to a seasonally adjusted 341000 in the week ended march 14 from 340000 in the prior week the labor department said
dainippon ink to invest in quixote quix 
if mellon does not redeem the notes at that time they will be non callable to maturity
in times of rising commodity prices monetary policy might be tightened and in times of falling commodity prices montary policy might be eased he says
banking sources said a third factor in the crisis was that commercial banks have lent the board only 77 billion shillings the equivalent of 55 mln dlrs for crop finance in the current coffee year while the government had asked for 100 billion
the paper said deposits may now be opened in french francs as well as the already available us dollar hong kong dollar sterling yen and marks
novacor inc a unit of nova an alberta corp said it would raise prices for us customers by five cts a pound on linear low density and low density polyethylene effective april 1
however cattle calf feed output the largest single component was 72 pct down at 435900 tonnes against 469900 tonnes
it said the overseas operations lost 400000 dlrs in the second quarter and did not appear strong enough to provide for future growth
grand union co 4th qtr march 28 net
bank of japan mulls other options to stop yen rise
federal funds were trading at 6 3 16 pct at the time of the indirect injection of temporary reserves
he also said brazil currently had no plans to return to a system of roaster buying contracts although no hypothesis has been abandoned dauster said he had not yet decided when registrations for may shipment coffee will be opened
morgan stanley made its 244 billion dlr bid after samjens bid 72 dlrs per share for burlington
it said most opec members were overproducing slightly but only the united arab emirates uae was seriously above quota
us credit market outlook mini refunding
it very well could be someones interested but freedman said he doesnt believe now is the right time for wendys to be sold
baker also said he still sees ominous signs of pressure for protectionist trade legislation and this pressure for protectionism is coming from new areas of society but he also said he believed a coalition was forming that supported free trade
whitehead
the proposed increase in procurement of foreign goods by the government will probably include the purchase of super computers ldp officials said
tcby enterprises inc tcby 1st qtr feb 28 net
oper shr 36 cts vs 25 cts oper net 710000 vs 5700000 avg shrs 200 mln vs 228 mln nine mths oper shr 103 dlrs vs 73 cts oper net 213 mln vs 152 mln avg shrs 207 mln vs 209 mln note 1986 net excludes realized capital gains of 2300000 dlrs in quarter and 226 mln dlrs in nine mths
calling the franchise system moderately profitable pinola said it is going to take a rejuvenation of the agriculture sector for us to commence franchising at the speed we were generating before the last year or two on the banking industry in general pinola said he thinks 1987 will be another bad year for loan losses with only banks with minimal holdings in real estate able to improve profits
weekly m 2 and m 3 components also hinted at slower overall growth
bank of france launches money market intervention tender official
in late february an investor group headed by jacobs offered 44 dlrs a share or 329 billion dlrs to take over borg warner
banks which found this level unacceptably low would be offered an alternative of libor payments in cash and a margin above that of one pct in the form of philippine investment notes
the equivalent rate at dec 31 1985 was 12470 dlr equals one irsh pound
ascs terminal market values for pik grain
at the height of the stoppage seamen said about 200 ships were strike bound
bundesbank sets new repurchase tender
dinner bell foods inc dinbo 1st qtr sept 26
china is the most promising market although mhi also considers other non oil producing developing countries as major customers
such companies would not immediately benefit from tax benefits he said
minorities 15 mln vs 24 mln
usdas report today will not include any harvested area estimates for sugarcane but representatives of florida hawaii and louisiana growers said crop prospects are good
the economics at an 80 pct levy are simply not attractive at oil prices below 30 dlrs story said
boothe bcmpo makes acquisition
parent company net profit 385 mln francs vs 2269 mln dividend five francs vs no comparison note the financial and banking group was privatised by the government in january this year
ecuador had already suspended payments to private foreign banks holding two thirds of ecuadors 816 billion dollar foreign debt from last january due to a cash flow squeeze stemming from a slide in world oil prices last year
french market talk of syrian wheat purchases
lynch chairman mario gabelli who heads a group which owns 1235 pct of becors 165 mln outstanding shares said the lynch bid is about one dlr better than the present offer gabelli previously said in a filing with the securities and exchange commission he felt the becor managment buyout was unfar
esselte business esb unit buys antonson unit
silver mining production in the 12 month period jan dec 1986 totaled 31720769 ounces vs 39357197 ounces produced over the same period in 1985
kingdom of sweden is issuing a 100 mln stg bond due april 15 1997 carrying a coupon of 9 1 2 pct and priced at 101 1 4 baring brothers and co ltd said as lead manager
sour crudes which would be most affected by the pipeline shutdown however were slow to react to the news with west texas sour and alaska north slope holding 50 cts to one dlr a barrel below wti respectively
baker to support this agreement he said
in each case farmers would have to undertake not to step up their capacity for output of other products which are in surplus in the ec
struthers wells suw sees 1986 nov 30 loss
japan m 2 plus cd money supply rose 88 pct in year to february jan 86 official
japan cabinet approves bill on gold coin issues
investment group raises robeson rbsn stake
economic spotlight euroyen bond issues increase
prime minister brian mulroney said the government was considering selling petro canada and the sale would proceed if it were in the national interest to do so
payment date is april 28
christiania bank issues euroyen bond
the market is getting mixed signals and it doesnt know which way to go one analyst said
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 273 days 500 pct 500 pct 30 89 days 274 294 days 592 pct 583 pct 90 100 days 295 344 days 500 pct 500 pct 101 181 days 345 360 days 593 pct 582 pct 182 195 days 500 pct 196 274 days 590 pct 275 295 days 500 pct 296 360 days
underwriters have been granted an overallotment option to purchase up to another 129750 shares
the deficit with newly industrialized far east countries including hong kong south korea singapore and taiwan fell 500 mln dlrs to eight billion dlrs and with canada the deficit decreased 200 mln dlrs to 33 billion dlrs in the quarter
gamco investors inc an affiliate of gabelli and co plans to propose an anti greenmail provision at the gencorp inc annual meeting march 31 according to gamco chairman mario gabelli
dynamics said the cts board will recommend cts shareholders vote at the 1987 annual meeting in favor of the company paying dynamics 2178000 dlrs as a reimbursement for its cts releated costs and granting dynamics an option to buy enough cts common at 29625 dlrs a share to give it ownership of 35 pct of the outstanding stock
fpl group capital inc a unit of fpl group inc is raising 150 mln dlrs through an offering of debentures due 2017 yielding 8951 pct said lead manager salomon brothers inc
meantime the executive board will meet may 12 to discuss possible action on the consultancy report on the ico presented today to the board consumer delegates said
it said values of up to 0073 ounce of platinum 0206 ounce palladium three pct copper and 45 pct nickel were found over a drill section of 13 feet
it also has interests in cellular telephone and paging services providers
at this level of the stock market there is more of an advantage to being in long term bonds than in equities given our interest rate scenario corchard said
west german consumption of oilmeals and oil cakes last year rose by 24 pct to 63 mln tonnes the agriculture ministry said
simon estimated that the company would earn seven cts a share in the first quarter compared to three cts in the same quarter a year ago and eight cts a share in the second quarter compared to five cts earned in 1986
the tender closes march 28 at 0500 gmt
the officials comments also suggest that debtors pleas for interest rate concessions should be treated much more seriously by the commercial banks in cases where developing nations are carrying out genuine economic reforms
taiwans steel exports to the us japan and southeast asia slipped to 148000 tonnes in the first two months of 1987 from about 220000 tonnes a year earlier the taiwan steel and iron association official said