the company said each debenture is convertible into shares of businessland common stock at a conversion price of 2050 dlrs
sumita says he does not expect further dollar fall
the tin price is likely to rise to 20 ringgit a kilo this year because of the producers accord on export quotas and the reluctance of brokers and banks to sell the metal at lower prices a malaysian government bulletin said
march and the next two or three months will be a really critical period hernandez said
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
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
the initial five pct stock dividend was paid december 22 to holders of record november 30
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
an untoward increase in consumption spending before the balance of payments improves would have disastrous consequences he said
uk money market shortage forecast revised down
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
earlier shell uk a subsidiary of royal dutch shell group rdas reported an overall net profit of 757 mln stg up from 667 mln in 1985 on sales of 657 billion stg against 881 mln
the venture will focus on investment advisory asset management market research and consulting on financing
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
the bonds will be issued in denominations of 1000 and 10000 dlrs and listed in luxembourg
pemex signs 500 mln dlr japan loan for pipeline
partnership buys 51 pct orange co oj stake
in 1986 the company earned 442 dlrs a share on revenues of 107 billion dlrs
argentine grain oilseed export prices adjusted
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
the partnership that made the first offer for comdata was welsh carson anderson and stowe
shr 21 cts vs 20 cts net 965000 vs 726000 revs 134 mln vs 118 mln avg shrs 4606242 vs 3624528
far west industries inc raises dividend
texas instruments common closed at 16725 dlrs up 2 1 8
if that reduced production level were maintained through to the end of june second quarter output would come in 10 pct below that of the first three months of the year
moodys investors service inc said it downgraded the debt ratings of baker international corp and upgraded hughes tool cos debt
in the january to september 1987 period 1185 mln people were employed a rise of 44 pct on the same period last year
newman shares eased one penny on the announcement to 43p while hawker was unchanged at 528p three pence higher on last nights close
rte corp rte 3rd qtr net
historical cost operating profit was 61 mln stg up from 16 mln
subscriptions on the loan close at 1400 gmt on march 13
smg acquisition corp a subsidiary of merrill lynch capital partners inc said 383 mln shares of supermarkets general corp were validly tendered by the midnight friday expiration resulting in a preliminary proration factor of 8566 pct
first valley corp fivco 3rd qtr net
acton said proceeds will be used to retire bank debt
the debt problem is not solved
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
the smaller coins will be in denominations of a half ounce a quarter ounce and a tenth of an ounce
the nics exports are almost all manufactured goods
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
raw sugar denatured and non denatured 4135 versus 4135 previously
reagans remarks help gold to recover in hong kong
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
thailands improved business climate this year resulted in a 27 pct increase in imports of raw materials and semi finished products
usda would scrap cotton rice bean price floors
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
the treasurys account stood at 81 billion guilders the weekly return showed
closing of the proposed transaction if it is completed is expected on or before november 2 1987 it said
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
at least four of the 41 mills were not working during the 1986 87 season he said
all three were underwritten by drexel which is part of an elite group of wall street firms that have brought these asset backed deals to market since early 1985
volume midmorning was 730 lots including 350 lots crossed and 108 switches
non redeemable for life the issue is rated a 3 by moodys investors and a by standard and poors
the two either lost money or had marginal profitability in recent years he 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
schweizerische aluminimum ag aluzz alusuisse may be able to break even this year after cleansing its balance sheet for 1986 chief executive hans jucker said
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 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
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
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
it said year on year m 1 grew 231 pct in january after an 185 pct increase in december
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
the company named painewebber inc as sole underwriter of the offering
pre paid legal ppd sees higher sales growth
entertainment marketing demands crazy eddie shareholder list may pursue merger
ec wheat exports in 1986 87 are forecast at 2822 mln tonnes vs 2831 mln tonnes last month
husain said no date had yet been set for the hearing and declined to give further details of the matter
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
however industry sources were more uncertain about prospects for the deal
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
pennzoil also said it had budgeted 212 mln dlrs for capital spending in 1987 a drop from the 233 mln dlrs spent last year
the transaction is expected to be completed by september 30
american international group aig qtly div
under albertas trial system imperial wants to match a reasonable supply of crude against the companys forecast demand for its refineries strong said
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
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
anz securities asia ltd is lead manager for the issue
usx x unit offers steel prices directory
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
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
in connection with the investment the company said it will restructure its board
the treasurys operating cash balance totaled 15018 billion dlrs compared with 15392 billion dlrs on april 9
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
uk intervention bd says ec sold 118350 tonnes white sugar at rebate 46496 ecus
analysts said several factors boosted hog prices
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 company also said it intersected another vein 90 feet west of zone two which assayed 0531 ounces of gold a ton
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
club mediterranee cmipa year ended october 31
north american holding corp nahl 3rd qtr net
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
british banks resist signing mexico package
bank of japan intervenes shortly after tokyo opens
its necessary to clarify policy for internal and external reasons he said but declined to say what economic measures might be introduced
west germanys capital market liberalization program has stalled and bankers are worried it may take years for further reforms to be completed
standard and poors corp said it may upgrade wainoco oil corps 25 mln dlrs of c rated subordinated debentures due 1998
a five pct tax credit for exploration and development
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
mostly dry weather in early rice areas of guanxi and guandong resulted in irrigation for continued rice planting it said
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
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
major differences resolved at rubber pact talks
shr 34 cts vs 32 cts net 2891844 vs 2666278 revs 137 mln vs 127 mln
analysts noted that ibm chairman john f
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
qtly div 10 cts vs 10 cts in prior qtr payable march 31 record march 23
m
beneficial corp to sell insurance unit removing company from insurance business
southeast bancorp stb acts on brazilian debt
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
although att will maintain its current dividend olson said the company wants to decrease the percentage of earnings paid in dividends by increasing earnings
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
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
telecoms shareholders are scheduled to vote on the 165 mln dlr transaction monday
us corn sales to tunisia morocco and other north african countries may face increased competition from european community ec corn sales the us agriculture department said
iadb officials also said washington hinted at future compromise
the sanctions take effect in mid april
stockholders wont pursue continental cuo bid
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
pentagon officials said defence secretary caspar weinberger also opposes to the sale
us bank accounting guidelines do not require loans to be placed on nonaccrual unless interest payments are past due 90 days or more
payment is due march 30
after the plan was presented working group delegates met briefly in smaller groups of producers ec consumers and all consumers to look at the proposal
the 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
the new divisors will be published in tommorws editon it added
el salvador and guatemala both backed brazil and colombia at the london talks in resisting pressures for quotas based on objective criteria
rains help us western corn belt more seen
they saw the current account surplus falling in 1987 to 58 billion marks from 78 billion in 1986
malaysia bails out another commercial bank
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
m 1 rose 25 pct after a 11 pct fall in december
wrightson estimates that about 20 pct of all us treasury trading is transacted outside the us with tokyo forming the third major centre
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
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
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
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
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
it said cumulative roastings for calendar 1987 now total a 3295000 bags compared with 3620000 bags by this time last year
the issue is available in denominations of 5000 dlrs and will be listed in luxembourg
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
shr 83 cts vs 60 cts net 516063 vs 328468 revs 83 mln vs 57 mln noteshrs reflect 3 for 2 stock split
the iwc raised the 1986 87 coarse grain trade figure two mln to 87 mln tonnes
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
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
he gave no details but said france wishes to have normal relations with iran
it said it received the warrants when it agreed to sell its commmodity chemical operations to georgia gulf in 1984
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
allegheny beverage says group interested in acquiring its service america corp unit
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
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
toronto dominion unit issues australian dlr bond
sales figures for both periods did not differ significantly from prior amounts
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
mulford disappointed in newly industrialized nics efforts to strengthen currencies
the two week strike comes as brazil faces a debt crisis and is delaying exports badly needed to earn foreign exchange
house of fabrics now operates 703 stores
howard told reporters that britain was actively considering possible retaliatory measures if it did not get its way on the telecommunications issue
the koether groups letter gives the company five days to respond to its request
naantali saudi red sea 30000 35000 mt barley 4000 3000 20 30 4 or early may
feds heller urges broad reform to aid banking
however the dealers were uncertain exactly how the dispute over the shareholdings had been resolved
soviet timechartering boosts grain freight rates
another question is whether or not the international monetary fund can help brazil with a new austerity program
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
grain from the great lakes to algeria made 28 dlrs against 2775 paid for similar fixing towards the end of march
german current account surplus widens in february
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
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
the bank said the issue would be placed with international institutional and private investors
the bond is available in denominations of 1000 and 10000 stg and will be listed in luxembourg
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
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
lindner tells sec he has had talks with taft on seeking control of company
the current quota agreement expires next march and beef quota negotiations are set to get underway this fall
japan sets an annual beef import quota
southdown sdw debt downgraded by moodys
us exporters report 350000 tonnes corn sold to unknown destinations for 1986 87
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
the dollar is likely to stay within a range of 180 to 184 marks said gisela steinhaeuser senior dealer at chase bank ag
tender offers typically include minimum share conditions
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
duff and phelps lowered the ratings assigned to public service electric and gas companys fixed income securities valued at a total of 344 billion dlrs
canada oil exports rise 20 pct in 1986
overseas drilling activity is expected to follow a similar pattern kerridge said
wheat guesses ranged from 13 mln to 18 mln bushels compared with 141 mln bushels a week ago and 179 mln a year ago
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
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
profit per basic share after dividends fell to 61 cts from year ago 64 cts
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
he sees economic growth hovering around a modest two pct level for the next few years
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
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
world zinc stocks fall 7700 tonnes in february
if no interest payments are received for the rest of the year from ecuador which is recovering from a severe earthquake 1987 earnings will be cut by a further 10 mln dlrs
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
traders said some slight production problems seem to exist but are unlikely to have any impact on the market
three united steelworkers of america locals on strike at cominco ltd rejected a tentative three year contract a union representative said
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
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
were still more or less on track for a hard landing but the agony may be fairly drawn out marris told 
grace gra completes retail unit sale
arrivals from then should start to pick up sharply as pods from current flowering are gathered
apex eventually fulfilled this obligation but claimed damages
the sterling notes will be sold in denominations of one mln and 500000 stg and will have maturities of seven to 364 days
treasurys baker sees cut in trade deficit
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
haffenden is a moulder of hot water bottles and also produces a variety of rubber and plastic mouldings
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
stanely also said the first quarters sales losses would be made up by shipments in the second quarter
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
the offer and withdrawal rights expire may 15 unless extended
but he said it was not aimed at moderating dollar selling
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
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
xuto said i welcome the friendly and cooperative atmosphere that has prevailed without interruption since the talks began last monday
the chariot group inc cgr 3rd qtr net
television crews which had been waiting outside naganos home filmed two men smashing their way into the home and later emerging with a bloodstained bayonet
the company said it recently reported 1986 profit of 59 mln dlrs or 151 dlrs a share before extraordinary items compared with 22 mln dlrs or 81 cts in 1985
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
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
money market fund assets rose 5525 mln dlrs in latest week to 23746 billion
project cost and plant capacity were not disclosed
quebec 91 day t bill yield rises
distillate stocks at 1087 mln barrels are 109 mln barrels above last years level the api said
a 2 1 2 basis point utilisation fee is payable on drawings of more than half the committed portion
the company said the adss are expected to be traded on the nasdaq system
prior year net includes 120000 dlr loss from discontinued operations
sales for the nine months were 139 billion dlrs up from 126 billion dlrs in the same 1986 period
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
additional ccc credit guarantees for hungary
construction will start late this year with completion set for mid 1989
canada exported two billion canadian dlrs worth of steel in 1986 while importing 944 mln dlrs worth of the product in the same year
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 report said the sri lankan rubber research institute may ask estates to remove trees seriously affected by the disease and added that most estates affected belong to the state plantations corp and janatha estates development board
a national bank spokesman said the latest adjustment would bring the rates closer in line with currently prevailing interbank interest rates
nakasone is widely expected to present a package of measures to president reagan to help contain us frustration over japans large trade surplus
the national bank said the drop was due to a deterioration in trade
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
shr 18 cts vs six cts net 17 mln vs 610000 revs 687 mln vs 635 mln
nikkos brusca projects rates of 825 pct for bonds 615 pct for funds and 775 pct for the prime rate
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
this commitment by the markets will enable progress to be made to develop a stronger and more effective exchange to the benefit of all those involved in the industry the chairman of the formation committee pat elmer said
the latest available figures show that kenyan exports to pakistan mainly tea were worth 75 mln dlrs in 1985 while imports from pakistan amounted to only 48 mln dlrs
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
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 
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
further pressure from a protectionist us congress for a lower dollar is also limiting washingtons options they said
russo says it acted as broker for sofer
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
contel ctc unit sales seen by analysts
bosphorus shipping moves istanbul offices close
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
takeover speculation lifts hutton efh shares
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
barris ind
the companys board has approved the plan which was intended to thwart an unsolicited offer from gaf corp
nv hoogovens 1986 net profit 1546 mln guilders vs 2788 mln official
loan loss provision 100000 dlrs vs 77 mln
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
they said they could not say how long the disruption will go on and what effect it will have on shipping movements
atpc chairman and indonesias mining and energy minister subroto has pledged his countrys support for the export curb
united biscuits pretax profit 1252 mln stg vs 1022 mln in 53 wks to jan 3
at least 16 missions would have to be sent within one year after enactment of the bill
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
hk stock exchange bars new b share issues
he added that many of the fixed interest eurobonds dollar straights had been trading basis only for some time prior to this weekends news
constellation bancorp cstlo 3rd qtr net
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
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
only 3839 mln dlrs of the 50 mln dlrs on offer was sold with all 27 bidding banks successfully obtaining hard currency
morgan jpm places brazil loans on nonaccrual
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
qtly div 13 cts vs 12 cts prior pay april 17 record march 31
sea containers scr expects better first qtr
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
george wimpey says benefits of restructuring seen
the official described the agreement as satisfactory overall
booker plc bokll said 1987 had started well and the group had the resources to invest in its growth business both organically and by acquisition
one month to one year deposits were indicated one point higher at eight seven pct but there was little activity at the longer end of the market
freight insurance proposed for ccc sales usda
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
french aid to togo to help coffee cocoa trees
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
both believed the combination would permit more effective competition throughout the world and enahnce the service provided to clients
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
parker drilling said it has been paying a quarterly dividend of one ct a share of common stock
edward zorinsky d neb sponsor of the measure said recently that those crop rotating practices resulted in less erosion than the practices of many farmers who produced strictly row crops
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
american eagle petroleums ltd year loss
wtd industries wtdi sawmill offer rejected
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
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
greece yesterday signed contracts with the soviet union for the joint venture project the biggest investment in the country for 20 years
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
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
kent rockwells father
underwriters away from the syndicate said they believed the 46 basis point spread over treasuries was aggressive
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
boone pickens may be targeting the company for an acquisition traders and analysts said
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
the current account deficit was 912 mln dlrs in the fourth quarter of 1985
these operations are not permanently shut down
he added that the document seemed entirely credible
deliveries of hard red winter wheat will have laydays of june 20 30 for 5000 7000 tonnes july 15 25 for 6500 8500 tonnes and september 15 25 for 7000 9000 tonnes
distillate fuel stocks held in primary storage were unchanged in the week ended april three at 1069 mln barrels the energy information administration eia said
fortune systems fsyso approves unit sale
america west is based in phoenix arizona
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
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
there will also be an investor put option annually at par
castle and cooke cke takes fourth qtr loss
dutch parliament offers little help in port row
bp unit sees us gold mine proceeding
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
electro scientific esio 3rd qtr feb 28 loss
swiss finance ministry calls two seasoned bonds
it has purchased 15 mln barrels of iranian heavy for april shipment for refining in singapore
the project hopes to aid small scale industry by encouraging bank lending developing export markets and supporting technology transfer the bank said
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
the second case involved knapp being enjoined from violations of sections of the securities exchange act the nasd said
the reforms tighten the rules for the use of foreign aid to subsidise export credits in so called mixed credits the oecd said
zico investment holdings inc said that bancroft convertible fund inc filed suit seeking to enjoin zicos 30 dlr a share tender offer for 500000 bancroft shares
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
inspectorate issues 200 mln mark equity eurobond
smit is still preparing its final salvage plan and said the work would begin on sunday
geoffrion leclerc forecasts results
sentiment is growing in europe that were no longer prepared to bail out the us banks he told reporters in new york this week
take or pay contracts oblige pipelines to pay producers for gas even if delivery is not taken by its customers
pre tax profit 1211 mln stg vs 1093 mln
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
the disposal will bring argyll an extraordinary credit of some 84 mln stg
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
john h
ussr crop weather summary usda noaa
ecuador asked for the loan to guarantee domestic supplies and would ship an equivalent volume back to venezuela in repayment in may lusinchi said
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
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
coradian corp cdin 4th qtr net
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
the bonds are non callable and payment is april 29
shares of entertainment marketing were up 125 cents monday to 950
this would scale back the 0 92 provision to the original proposal by english allowing a pilot 0 92 program for 1987 wheat only
first wisconsin fwb to make acquisition
oregon lumber company to sell wood to iraq
paton reports us green coffee roastings higher
the fdb rejected this request
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
the company said the increase brings its posting for the us benchmark grade west texas intermediate to 1900 dlrs a barrel
the letter of credit will be underwritten by a group of banks who will be paid a 20 basis point facility fee and a 25 basis point utilisation fee
the field is located in southern louisiana
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
that delays a lower risk profile for many of them standard and poors said
notwithstanding such technical default metromedia which dissolved on december 17 1986 said it will pay all of its liabilities
any reduction in world coarse grain output would be bolstered by the large carryover stocks from 1986 87 the iwc said
the spokesman declined to say how much stockpiled tin the gsa sold last year however
residents in the copperbelt contacted by telephone said government forces had set up roadblocks around the main towns
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
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 tender calls for 11 cargoes for delivery from april through october with early shipments fob or pacific northwest they said
the announcement today brought them back down to 214p from last nights close at 241p
the money was paid to ward via marketing and acquisition consultants ltd in jersey
ryder system rdr sells notes and bonds
through other subsidiaries allegheny provides coin operated laundry services building maintenance services and retail office and furniture operations
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
the notes were priced at 9963 pct to yield 843 pct
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
this is really getting pretty serious
a year earlier they had produced and exported about 800000 more according to the london based international sugar organization
the commission believes that hostile reactions to the proposed tax have for the most part been based on incomplete or an insufficiently thorough analysis of the proposal he said
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
usda estimated this provision would save 30 mln dlrs largely because of reduced crop forfeitures
the acquisition has been approved by avons board with the closing set for may 7
conference chairman manaspas xuto of thailand has been holding consultations with producers and consumers throughout the day
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
weekly car production estimated lower
exports are forecast to increase to 10 mln tonnes from 800000 tonnes exported last year the report said
french market talk of syrian wheat purchases
selecterm inc sltm 4th qtr loss
pioneer makes business forms
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
reynolds said the board reached its decision to reject the offer after careful study with legal and financial advisers
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
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
a flood warning continues today for eastern nebraska
qtly div 35 cts vs 35 cts prior pay april 15 record march 31 note winthrop insured mortgage investors ii
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
the klm spokeswoman said she expected further announcements about the talks with vendex to be made early next week
it said initial projections were for a 46 pct increase in gdp this year
the dealers for the program will be sg warburg and co ltd and county natwest capital markets ltd
carolco pictures crc orbis in agreement
where the heck can you buy a world class chemical operation these days said henderson
bankers say it is too early to venture a forecast for economic growth this year or next
it has a circulation of 200000 and is the largest of its kind in the world the company said
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 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
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
kcbt said the cftc proposal would reduce hedging efficiency constrain growth of intermarket spreading and of the exchanges wheat options contract and impair its ability to attract large speculators
the 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
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
boc group completes sale of unit to controls
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
rank makes increased avana offer final
the diplomat said that to join gatt china had much to do
japan long term prime seen cut to record low soon
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
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
the association of german cooperative banks said in a financial survey that domestic interest rates would continue to remain low for the time being
gencorp gy bid could be raised group says
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
kleinwort benson lonsdale plc kblll year 1986
winthrop insured mortgage ii wmi sets payout
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
shr 55 cts vs 41 cts net 494000 vs 204000 avg shrs 896655 vs 494155
automobile production although expected to fall this year is still on an upward trend and will continue to be so for the foreseeable future and in addition use of aluminium castings is gaining wider acceptance in the automobile industry particularly in the us in packaging shearson does not expect aluminium to dominate the beverage can market in any of the other major economies to the extent it does in the us but says there is evidence recycling is on the increase in other countries
spain has 68 mln dlr january payments surplus
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
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
zambia does not plan retail maize price hike
atico financial atfc to make acquisition
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
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
in may 1985 allegheny sold its pepsi cola bottling co unit to pepsico inc pep for 160 mln dlrs
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
philippines criticises ec for vegetable oil levy
domestic costs have increased due to inflation and exporters have not had the same offsetting movement in exchange rates roldan said
permian said the present value of estimated future net revenues discounted at 10 pct is 1653 mln dlrs compared with 3743 mln dlrs
national distillers and chemical dr expanding
a 3 1 2 year labor contract at the plant expired december 13
rooney noted that norstar chairman peter kiernan is in his 60s while fleets terrence murray is in his late 40s
energy development said may petroleum inc mayp general partner of may energy will distribute about 35 energy development units for each 100 may energy partners units to holders of 100 may energy partnners units or more and cash to others
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
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
issuing and paying agent will be chase manhattan bank na london
scotts liquid gold inc year oper net
us commerce trade report omits freight costs
but if the ship could not be salvaged the claims would total at least 30 mln stg
australian government to pay subsidies usda
wall street stocks us oil companies
rowntree seeks 200 mln stg facility cp program
it said it plans to enter the health care business in japan
crown auto inc crni 4th qtr dec 27 loss
but liquidity was tight in early business because banks excessively took up the bundesbanks offer for sale of treasury bills on friday
the dollar fluctuated marginally after the small scale intervention believed to total several tens of mlns of dlrs they said
japan business decline seen bottoming out
astrotech aix director buys company stock
he also said the transaction could be financed through a debt issue or conventional financing from investors
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
gencorp gy rejects unsolicited takeover bid
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
the company said completion of the transaction is subject to regulatory and shareholder approvals
the offer would occur within about 90 days after the closing of the sale of the initial 50 pct stake the company said
bootle of lloyds said the expected base rate cut would pave the way for an early one point cut in mortgage lending rates
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
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
the females lay up to 2500 eggs each
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
union bank of switzerland securities ltd lead managed a 15 billion yen bond for union bank of switzerland nv
the company which consolidated the swedish wholesale and investment conglomerate ahlsell ab this year said the result included restructuring costs and write offs of 802 mln crowns
it is not simply a question of withdrawing or refusing operating licences
it also reported that inflation as measured by the gnp price deflator remained in check growing a moderate 07 pct in the period the lowest rise in 19 years
ongpin said every 1 16 point over libor meant an additional 51 mln dlrs in annual interest payments
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
1986 nine mths includes pre tax gain 206 mln dlrs on sale of iron ore interest in western australia
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
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
henley group heng sets fisher distribution
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
abitibi price inc aibto 3rd qtr oper net
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
excluding these expenses growth in operating expenses of the combined companies was reduced from 14 pct to 12 pct during the first quarter
the january fall brought home sales to a level 16 pct below january 1986 when they were a seasonally adjusted 728000 units
the 56 were eventually brought safely out of the mine
the final payment must be 16 billion dlrs in certs 57 pct for a 50 50 split
if impeded by the low pressure area the cold air could hit oklahoma and texas as late as monday morning
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
halcyon said it bought the stake for 261 mln dlrs as part of its ordinary risk arbitrage and securities trading business
the temperature in west texas since mid week has been about 95 degrees
adrian lajous pemex executive vice president of international trade said current opec output already appeared to be very near the 166 mln barrel per day level it set itself for the third quarter
twa earlier this month reported holding slightly more than four mln shares or about 15 pct of usair
rooter corp said it rescinded a recent agreement calling for united western energy corp to to buy a majority of mr
bankers said they are now moving into the new government securities market and the stock exchange of singapore dealing and quotation system
the papua new guinea government will establish a public corporation to invest in resources projects minerals and energy minister john kaputin said
terms of the acquisition were not disclosed
the convertible debentures are rated b 3 by moodys investors service inc and ccc plus by standard and poors corp
itel itel completes flexi van acquisition
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 hambrecht and quist inc as lead underwriter of the offering
on friday dixons agreed to reopen its tender offer until march 25 wednesday
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
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
p and o is considering listing its shares in japan and other important overseas financial centres the statement added
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
brown said the increase also includes some mexican and venezuelan loans as those nations are also facing credit problems
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
pennsylvania enterprises pento bid stands
itoh and co ltd cittt which holds 20 pct of idc said a meeting may be held later this week
the two parties have agreed to encourage direct japanese investment in canada bilateral trade and more joint ventures and licensing accords between canadian and japanese companies
corrected federal paper fbt raises payout
unctads latest estimates project an increase of 85 pct in rubber prices this year and 41 pct in 1988
herrington said an import fee would meet the first test spurring production but fail the second and third
moreover it said it will relocate its headquarters to glendale calif
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
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
we have always been a wholesale bank but we have more than one million customers all over the state
commonwealth bank plans 500 mln dlr paper facility
india buys 46000 tonnes of vegetable oils
the drop will simply bring us back to 1985 levels with a loss of no more than about 100 mln dlrs he said
about 23 billion dlrs of debt is affected
fcs laboratories fcsi ends merger talks
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
european soy feed market opens quietly
zhao said china should lower the cost of exports and control the export of goods that incur too much loss
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
ongpin said the use of pins would result in anticipated savings of one billion pesos over the debt agreements 17 year life
its official purchasing agencies will buy cotton produced in excess of that originally contracted for it added
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
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
yeutter seeks stronger taiwan skorea currencies
aw computer systems inc awcsa year end dec 31
teleconcepts corp tcc 3rd qtr net
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
westpac drops new zealand indicator lending rate
decision also said it entered into an agreement to sell its international computerized telemarketing inc subsidiary to an investor group headed by the units senior management
earnings per share reflects two for one common stock split on march 15
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
sugar growers would be compensated for the price cut with targeted direct payments to be gradually phased out through 1990
1985 net includes tax credits of one cent in the quarter and 37 cts in the six months period
home shopping hsn makes offer fit euro demand
goldman sachs said it originally bought the stake as part of its arbitrage business
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
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
talks aimed at renegotiating ico export quotas after five years of price supporting agreements broke down in february
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
in january 1985 before the national bank ended the distinction between notes and bonds bond issues totalled 166 billion francs notes 139 billion and credits 5975 mln
the increase brings unocals posted price for the us benchmark grade west texas intermediate to 1750 dlrs a barrel
last year the house approved his plan to force a 10 pct surplus cutback each year for four years by countries such as japan
the price and other terms of the tender offer have not yet been determined the company said
wyse technology said it agreed in principle to acquire privately held link technologies inc in exchange for an undisclosed amount of wyse technology shares
in its international weather and crop summary the agency said most of the regions precipitation fell as rain
a spokesman for pillsbury said the company is aiming to get this after tax gain in the fourth fiscal quarter ending in may
iis intelligent iislf in textron txt deal
dutch steel concern hoogovens groep bv said it had reached agreement with nv philips gloeielampenfabrieken pgloas on its takeover of cirex a specialised philips precision wax moulding unit
the 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
kurzweil kurm has reduced work force
cyacq corp an investor group bidding for cyclops corp said it amended its outstanding 9250 dlrs a share tender offer for cyclops to eliminate two conditions and modify a third one
year 1986 and year prior excludes loss 62216 dlrs and gain 281367 dlrs respectively for discontinued operations on lebanon sale
the bundesbank is frightened of using up its powder he said
he is the first high level us official to visit japan since president reagan announced last week plans to impose tariffs worth up to 30 mln dlrs on japanese electronic goods on april 17 in retaliation for tokyos alleged failure to live up to a pact on microchip trade signed last september
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
stanley it was formerly known as ghr energy corp
celltronics inc said its directors declared a one for 10 reverse stock split of its common stock
registered unemployed totalled 281 mln or 211 pct of the workforce in february 1986
dome and encor are actually going to get farther apart
american building maintenance abm 1st qtr net
bankamerica bac may reclassify brazil loans
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
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
nestles nominal capital amounts to 330 mln swiss francs
the new facility will replace the current 48 billion guilders of seven day advances expiring monday
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
rainbow corp ltd said it has lifted its stake in supermarket group progressive enterprises ltd to 52 pct from 44 pct
the new moves are based on wide ranging proposals made in late december by advisers to finance minister kiichi miyazawa
takefman said new products this year which will be on the shelves for christmas include a smaller version of teddy ruxpin a talking mickey mouse toy dancing plush toys a doll with a voice activated by sound touch light and heat and talking books
oper includes writeoff related to subordinated note exchange of 185000 for current qtr and nine mths
samjens lawyers discounted the concern
gross currency reserves rose in the week by 400 mln marks to 1099 billion
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
the company said its income performance for the full year remains very good
the japanese must be prepared to trade some losses on semiconductors in return for free access to other areas said edwards
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
it said the move is effective immediately
sia to appeal fed ruling on commercial paper
that change was made after the agency rated the notes on february 20 s and p stated
but he denied there was pressure from the government for the spin off
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
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
shr 10 cts vs eight cts net 856000 vs 574000 sales 9593000 vs 9232000 avg shrs 8809000 vs 6969000
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
gos ia 1 well located at a water depth of 41 metres was drilled under a production sharing contract between pertamina and japex north sumatra ltd each having 50 pct shares
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 market dropped by up to 1 2 point following the banks announcement with the treasury 13 1 2 pct stock due 2004 08 quoted one full point lower at 134 12 32 stg pct around 20 minutes after the news
supermarkets general sgl tender expires
use of physical gold should rise this year due to increased industrial demand and higher expected coin production the bank said
standard and poors corp said it raised to a from bbb plus the preferred stock of mdu resources group inc
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
turnover 5432 mln stg vs 4815 mln operating profit 482 mln stg vs 382 mln net interest 89 mln vs 86 mln tax 143 mln vs 112 mln profit after tax 251 mln vs 184 mln minority interest 300000 vs 615000 net tangible assets per ordinary shr 1113p vs 1016p
speaking to the new york chamber of commerce and industry yeutter said capital and trade flows are clearly inter releated now
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
to offset this the state offers farmers cheap fertiliser and diesel oil and payment in advance for grain it contracts to buy
vendo co ven 4th qtr loss
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
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
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
toronto dominion issues 20 billion yen eurobond
results of flow control operations have been included since its acquisition from itt corp on jan 31 1986
egypt purchased 46000 tonnes of optional origin sunflowerseed oil at its import tender yesterday all for may arrival traders said
in the fourth quarter of 1986 hughes earned 317 mln dlrs on sales of 2157 mln dlrs
although it is difficult to forecast the extent of the profit improvement this year the gain should be significant he added
scotts hospitality acquires capital food
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 the group indicated to it that it had no hostile takeover intent toward ameritrust and that the purchase was for investment purposes
certainly if restrictions were imposed on european exports of textiles to the us the community would be likely to retaliate with restrictions on us textile exports to europe denman said
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
buehler international inc bulr 4th qtr net
cash flow was strong and the gross debt to equity ratio dropped to 41 pct from 51 pct
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
national security nsico stake acquired
the bond will be available in denominations of 1000 stg and will be listed in luxembourg
french official reserves rose 1273 billion francs to 38868 billion francs at the end of february from 37595 billion at the end of january the finance ministry said
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
shr 17 cts vs 10 cts net 22 mln vs 13 mln sales 406 mln vs 326 mln
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
at its last meeting in december opec agreed to reintroduce fixed prices from february 1 around an 18 dlr per barrel reference point
meanwhile us japanese diplomatic manoeuvres to solve the trade stand off continue
the indicated premium is 2 1 2 pct
jwt group jwt grants golden parachutes
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
ec authorises export 65000 tonnes barley maximum rebate 13875 ecus brussels trade
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 developed market economy countries have slowed down output growth thereby drying up markets for the commodity exports of african countries mamman said the world bank estimated 353 billion dlrs a year would be needed over the next five years for the african continent to be able to achieve a gross domestic product growth gdp rate of three to four pct by 1990
lamp said that excess debt due to its withdrawal from the texas marketplace has been the key factor to blocking further progress
wajax ltd year net
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 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
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
northeast eastern thailand face severe drought
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
he said the agreement may have to be re examined
the merger would add community banks 20 mln dlrs in assets to 1st sources more than one billion dlrs in assets 1st source said
but government officials said last night we are not talking about days or weeks
three d departments inc tdd 2nd qtr jan 31
rosenbaum could not be reached later in the day for comment on a new formula for calculating ico quotas agreed to by european coffee roasters and traders
can we not manage this lending a bit more imaginatively he asked the conference
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
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
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
sumitomo metal international finance plc in london is wholly owned
fees comprise 1 1 4 pct selling concession and 5 8 pct management and underwriting combined
plains petroleum co plp 3rd qtr net
polly peck ppkll raises 203 mln stg
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
dutch adjusted unemployment rises in march
emanuel was not refering to debts to foreign governments and multilateral organisations the spokesman said
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
parker drilling co pkd 2nd qtr feb 28 loss
it said residual fuel stocks rose 28000 barrels to 3825 mln from a revised 3798 mln barrels
grumman corp gq in payout
abbey national has one billion dlr euro cd pact
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 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
economists estimate gross domestic product fell 10 pct last year and 86 pct in 1985
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
the charge included the indefinite idling last month of four plants in utah pennsylvania and texas
its a merger of equals said analyst john rooney of moseley securities corp
alc communications corp alcc 1986 loss
under new guidelines if the first two restricted deliveries move the 60 cent limit for two days the exchange will expand the limit
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
kellogg said the installed cost of the work to be performed is estimated to be 130 mln dlrs
national medical nme files for debt offering
canada upholds countervail duty on us corn
the transaction is scheduled to close in early july the company said
the dispute goes to the commission on monday they said
the move follows similar amendments last november to canadas revolving standby credit facility with international banks
dealers said the markets cool response to intervention reflected a basic oversupply of dollars
durable goods were weak in january and now employment is strong in january us durable goods orders dropped 75 pct followed by a 40 pct drop in us factory goods orders
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
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
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
this suggests that american semiconductor manufacturers may not be really interested in participating in the japanese market he said
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
pbs whose subsidiaries design make sell and lease nonresidential relocatable modular buildings said it bought the stake for 85576875 dlrs to acquire an equity interest in modulaire while it evaluates modulaire depending on several factors pbs said it may decide to buy additional modulaire common shares
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
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
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
my personal feeling is that is too low
the us shelved the nspa case earlier this year after trade representative clayton yeutter said argentina agreed to end the differential
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
rtz sees rising us output aiding 1987 results
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
construction employment also lowered the number of jobs in the goods producing sector falling by 45000 after seasonal adjustment the department said
the commerce department said that all canadian firms had begun to pay an agreed to 15 pct surcharge on softwood shipped to us markets
this week hughes seemed to back out of the merger but then said it was still interested in talking
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
raytheon said a 10 pct rise in its first quarter net to 1018 mln dlrs reflected improved operations and a lower effective tax rate
ec appoints new trade chief
fleet has total assets of about 21 billion dlrs
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
they said saudis supply capabilities of lpg an associate of crude oil is guaranteed by its crude output capacity
ryder system inc is raising 175 mln dlrs through offerings of notes and bonds said lead manager salomon brothers inc
dainippon incs optical disc technology focuses on the development of a new direct read after write optical disc and an advanced erasable optical disc
profits before provisions were sharply higher in part reflecting an 18 pct staff cut last year
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
bp oil said 1985 profits had been depressed by exceptional items
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
the remaining 10 billion dlrs consisted of seven billion dlrs owed by government agencies and three billion dlrs by the private sector
japanese compound feed output falls in january
the swiss finance ministry said it was calling two bond issues of a total 550 mln swiss francs as part of its effort to retire outstanding high interest debt
among the reports options to ease us reliance on foreign oil are several already advocated by the reagan administration
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
malachi mixon iii said he expects the home healthcare equipment company to post sales increases in the 10 to 15 pct range in 1987
india gets 140 mln dlr world bank loan
phenol is used to make phenolic resins and adhesives for engineering plastics the company said
baker international corp sues hughes tool seeking merger completion
treasury secretary james baker told the house appropriations committee that he believes the president remains opposed to an oil import fee
robintech inc the plants former owner will split the cost
japan is a major importer of gold buying a yearly average just under 200 tonnes gold dealers said
gao is preparing the certificate study at the specific request of sen
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
gerber grb buys gerber systems gsti shares
based on estimates of a larger work force block could show a gain of more than five pct in tax forms prepared he said
american can co chairman gerald tsai said the company will record higher earnings in the first quarter and for the full year
payment is due march 17
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
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
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
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
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
the seven year ntpc bond was oversubscribed three times brokers said
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
last year italy ranked as one of the oecds fastest growing economies with gross domestic product gdp growth at 27 pct
disney family company
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
integrated resources inc said it filed with the securities and exchange commission a registration statement covering 150 mln dlrs of senior notes
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
it is only the middlemen who will benefit he said
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
a number of us have already put in new money and there are plans for the export market he said
reserve bank governor gerhard de kock said south africa should have no difficulty whatsoever with the terms
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
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
charles grassley r iowa about expanding the export enhancement program to include grain sales to the soviet union
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
world bank chief stresses third world growth
luxtec luxt cuts warrant exercise price
malaysia said the success of talks opening today on a new international natural rubber agreement inra depends on how flexible consumer countries are
eighty one pct of the membership voted he said
south koreas customs cleared trade surplus narrowed to 110 mln dlrs in february from 525 mln in january provisional trade ministry figures show
consumer prices were on average three pct higher than in february 1986 the office said
the number on hand compared with trade guesses of 335 to 36 mln lbs and the year ago figure of 512 mln lbs
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
shr 41 cts vs 30 cts net 700000 vs 526000 revs 152 mln vs 147 mln
sullivan mines inc year loss
jaguar starts selling xj 6 in the us in may and plans to sell 25000 of its total 47000 production there in 1987
in a report to the canadian finance department the tribunal said the duty is hurting canadian farmers and food processors
bank of england to auction up to 325 billion stg in gilts first auction in mid may
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
japan crushers start april us soybean buying
kidder peabody mortgage assets trust five a unit of kidder peabody and co inc is offering 500 mln dlrs of collateralized mortgage obligations in seven classes including floating rate and inverse rate tranches
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
maybe they have some ideas or plans said chronowitz
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
stoltenberg says paris accord policy to continue
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
dayton hudson suggested amendments be passed and instituted by next friday the spokesperson said
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
qtly div 1 3 4 cts vs 1 3 4 cts prior pay april 23 record april nine note full name restaurant management services inc
the notes are guaranteed by the sumitomo bank ltd
utilicorp said the board of directors will vote on the split at its next regularly scheduled board meeting on may 6
he lyng simply told us he was not in any position to talk about an eep export enhancement program initiative to the soviet union said glen hofer vice president of the national council of farmer cooperatives
hazleton shareholders will vote on the proposed merger at a special meeting on march 31
meanwhile the eight billion dlr drop in the m 1 money supply announced this week was surprising much larger than expected according to kahan
bundesbank sets new repurchase tender
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
there were 499967 gallons of foreign imports last week versus 341280 gallons the week before
the average price for the three month bills was 98577 and prices ranged from 98574 to 98582
boliden says it now leader in mining gear
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
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
qtly div 17 cts vs 17 cts prior pay march 31 record march 17
the bank of england said it forecast a shortage of around 250 mln stg in the money market today
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
matsushita to issue 200 billion yen convertible
the issue will be co led by banque nationale de paris caisse nationale de credit agricole and the societe marseillaise de credit
consumers are seeking an adjustment of the reference price set in the current accord at 20166 malaysian singapore cents a kilo and of the lower indicative price if the buffer stock currently 360000 tonnes rises to 450000 tonnes
on the other hand anything neutral would tend to be bearish for the dollar mills said
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
canadian utilities ltd to redeem preferred series
prior year net excludes tax credits of 5775 dlrs in quarter and 17325 dlrs in nine mths
there was also no projection for oil revenue
this proves we are achieving our goal of reestablishing the financial flows to the country said azpurua
apparel sales outshone other product groups in sales according to retailers and analysts
antwerp libya 5500 mt bagged flour 14 daps 24 27 4
the sale to a group headed by girozentrale bank of austria is subject to shareholder approval by april 24 1987 it said
baker and volcker gave these views at closed door talks yesterday with speaker jim wright and other house leaders
level iv reflects grain entered after oct 6 1981 for feedgrain and after july 23 1981 for wheat
us sees no new coffee agreement talks soon
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
canada launches 12 billion dlr bond issue
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
nationwide cellular ncel completes purchase
it added any shares repurchased would be added to the treasury and will be available for future issuance
transco said that anticipated oil and gas prices during 1987 would continue to exert pressure on the profitability of most energy companies
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
breslube is a leading rerefiner of used lubricating oils in north america collecting used oils from auto garages car dealers and other businesses
robert arnott australias delegate to the general agreement on tariffs and trade gatt made the appeal at a special annual meeting which reviews the 1955 us waiver
dress barn inc dbrn 2nd qtr jan 24 net
the dividend increase will be effective with the april 30 payment it said
some 21 japanese banks have loans outstanding to nigeria representing about four pct of the credit extended by western commercial institutions banking sources said
the government however does not want to accelerate reducing the debt by making an excessive trade surplus he 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
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
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
in 1971 the sedren copper mine in gonaives operated by a canadian firm closed down after years of mining a concentrate containing gold as well as copper
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
asian development bank to open indonesia office
both the bonds and the warrants will be quoted on the paris bourse
sun sun raises crude postings 50 cts
an increase in orders through newly acquired subsidiaries abroad was balanced by the decline in the dollar
us treasurys baker sees expansion continuing
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 transaction is conditioned on allieds pending merger with the vons cos inc
operating profit in the fourth quarter for all of the companys operations on a consolidated basis before corporate and interest expense and taxes was 181 mln dlrs against a loss of three mln dlrs in the 1985 quarter
but it remained within a narrow 40 basis point span around 18050 marks after the first hour of european trading
the alternatives include continuation of the companys existing business plans possible business combinations sales of stock restructuring and the sale of all or part of the company
it said 200 mln dlrs of the equity would be in the form of special preferred stock
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
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
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
investors are saying to themselves that waste management companies have that kind of exposure to regulatory suits brown said
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
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
1st source srce completes merger
if no such steps are taken protectionist sentiment in the us congress will grow putting greater downward pressure on the dollar they said
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
the surpluses that taiwan and korea ran with the us in 1986 will get bigger
gencorp also has a pending agreement to sell wor tv in secaucus nj to mca inc for 387 mln dlrs
it would profit from rechannelling its huge trade surplus into third world economies notably those in south america china and india that are likely to expand faster than those in the developed world he said
uk money market deficit revised downward
ferro corp said it has formed a joint venture with paris based alsthom inudstrial group to export us epxertise in specialty composite materials to the european market
the asa is confident the us congress will support its trade complaint adams said
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
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
enro holding buys enro shirt and foxcroft
inter city gas corp 4th qtr shr 36 cts vs 68 cts
gonzalez said it was difficult to say how many banks would take up the exit bonds because no such instrument has been offered before
roderick in response to a question said usx had no immediate plans to restructure its marathon oil co or texas oil and gas corp
end year reserves rose to 603 mln barrels of oil compared with 503 mln previously
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
as a consequence growth in machinery and equipment investment is likely to decelerate only slightly this year after vigorous growth in 1986
relief to us corn oats growers said likely
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
on friday the us department of transportation approved usairs acquisition of 51 pct of piedmont
morgan guaranty trust co of new yorks 100 mln canadian dlrs of 8 1 2 pct receipts for government of canada bonds due 1994
german experts say no further economic stimulus
the philippines commission on good government ruled last may against a move of neptunia to acquire 33 mln san miguel shares controlled by the brewery firms former chairman eduardo cojuangco who is also chairman of united coconut
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
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
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 100 mln stg that tsb set aside for the loans was exhausted within just a few days according to a spokeswoman
phoenix steel receives offer for claymont mill
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
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
robert halmi inc rhi obtains revolving credit
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
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
however morgan officials said holders of the zero coupon bonds will not be paid in cash when the securities mature
full name of company is childrens discovery centers of america inc
the united states has said it will only be able to support a level close to the sixth replenishment of funds which came to 157 billion dlrs unless its proposals are accepted
all kodak poy production has been at carolina eastman since last year
toyo trust issues 100 mln dlr convertible bond
crude oil netbacks up sharply in europe us 
the oil part of a five mln additional crude oil loan by venezuela will be processed at guayaquil refineries
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
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
harcourt made a 50 dlrs a share unsolicited bid on march 11
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
turnover rose by by more than one billion dlrs to 36 billion the parent company said in a statement
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
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
the study should be completed in nine months and will determine any clean up or remedial action that may be required
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
north east neic may violate capital rules
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
qtly div 11 cts vs 10 cts prior pay may 14 record april 17
goodyear said the price it will receive is after adjustments for such items as pension and benefits provision allocation of liabilities and asset valuations
japan line selling tankers and bulkers
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
these agreements covered less than 40 pct of spanish workers cuevas said with the rest still in wage negotiations
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
interest will be paid in guilders and each 1000 guilder bond will be redeemed in 31300 sterling on april 15 1992
general electric co said it will redeem on may 1 rca corps 75 mln dlrs of 11 1 2 pct notes due 1990
it said that each sector had exciting prospects but required different methods of management and financing
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
the committee had originally been due to meet in vienna this week
sources at the coffee marketing board in kampala reported delays in coffee export shipments last january due to congestion on the lake ferries
guinn also said that the company is still studying whether to join an international consortium that plans to lay a transpacific telephone cable between the us and japan
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
the tension has eased the permanent trade ambassador of the 12 member european community tran van thinh told reporters
prime minister yasuhiro nakasone explained the conditions during the first round of talks with the visiting polish leader wojciech jaruzelski foreign ministry sources said
de laurentiis said it has 96 mln shares outstanding
the issue is callable in the first three years only if the stock prices rises abouve 130 pct of the conversion level
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
the peoples daily said sichuan has recorded temperatures three degrees celsius higher than average since early february
us drafts sanctions in argentina soy case
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
denmarks wholesale price index fell 05 pct in february giving a year on year fall of 49 pct the national statistics office said
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
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
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
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
innovex said it bought the shares by exchanging 293101 shares of unregistered innovex common stock
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
denied kirk knapps application to become a registered member of the firm
lamont said the treasury would appoint financial advisers for the sale
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
brazil seamen say strike near end
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
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
the company now has about 271 mln shares outstanding
buffer stock purchases from non icco member countries would not be allowed to exceed 10 pct of the total buffer stock they said
several analysts had estimated a break up value of less than 150
the company said it expects to report normal earnings for the rest ofd the year of 4500000 to five mln dlrs per quarter
what the minister said does not imply any major economic policy change a ministry spokesman told 
armtek corp formerly known as armstrong rubber co said it signed agreements with condere corp for the sale of its natchez miss
newmont mining corp reduces stake in peabody
wtc international waf sets south africa trust
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
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
comdata said it has not yet reached a definitive agreement with mason best co for the previously announced recapitalization and self tender offer
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
it did not identify the company to be acquired
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
to stabilise the dollar at too high a level is wrong he said
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
mdc holdings mdc sells energy unit
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
gpus gpu three mile island power reduced
market sources said the deal is likely to be swapped into yen as the borrowers previous issues were
brazil soy harvest 13 pct complete newsletter
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
parker speculated that the combined emery purolator would have about 24 pct of the six to seven billion dlr delivery business
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
only a provision directing us officials to vote disapproval cleared congress
for the past year the dollar in the parallel market has sold at between 25 and 100 pct above the official rate
un conference formally adopts new international natural rubber agreement chairman
union said a 150 dlrs cut brings its posted price for the us benchmark grade west texas intermediate to 16 dlrs
imports from the us would drop due to active sales drives by other suppliers the official who declined to be named said
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
de mel said a drought in sri lanka has helped control the spread of the disease
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
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
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
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
wen hui bao said the drought which has affected shanxi hebei henan and shandong the most has eased with march rains in south china and march snowfall in the north and as some new irrigation projects have come into use
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
one option would be to try to grow the tire business through combination or an acquisition reed said
members unanimously rejected the latest company offer that was submitted to the union late last week
it said it considered the result satisfactory in view of these factors
several bills which would establish a farm secondary market have been introduced in both the house and senate
some economists expect the fed to execute a bill pass this week because its adding requirement increases sharply in the new statement period beginning on thursday
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
the company said detroit based faygo a soft drink maker has annual revenues of more than 100 mln dlrs
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
brooks said management is pleased by a number of investment proposals bought to them but he added the investors must be willing to invest in the future growth of the company and not just selling off assets brooks also said he was not aware of any direct intervention by the us in an attempt to block the merger
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
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
the sale was part of a program of asset disposals undertaken to staunch losses at the nations second largest bank holding company
dart group corp dartao affiliate madison partners said that given current market conditions it has dropped its takeover bid for dayton hudson corp
kern again decided against disclosing the talks in an amended sec filing the agency charged
thorn emi is a leader in the british audiovisual market with a turnover last year of 300 mln stg
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
takeover battle for dome petroleum begins
a similiar survey was made when the currency fell to the previous record low of 14998 on january 19
hong kong international terminals operates 32 cranes
first interstate of iowa inc fiiao 1st qtr
cbt traders say us conservation signup neutral
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
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
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
erc international erc to offer debentures
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
4 will also allow for conversion of public sector debt into investments in venezuelan private industry
on march 16 consul offered to exchange each 1000 dlr face value of bonds for 10 shares of preferred stock convertible after dec 1 1987 into a total of 500 shares of common stock
bank of france launches money market intervention tender official
fees comprise 5 8 pct for management and underwriting including a 1 8 pct praecipuum and 1 1 4 pct for selling
in a briefing for reporters bank president antonio ortiz mena said that this year lending by the bank will be at a similar level to last year he noted that bank lending in 1986 was directed particularly to projects in energy agriculture and environmental and public health education and urban development
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
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
morrison said that it was not aware of any party interested in acquiring the company
us meat group to file trade complaints
bralorne resources ltd year loss
the us commodity credit corporation ccc sold 6034 short tons of 1986 crop farmers stock peanuts for domestic crushing the us agriculture department said
for full year 1987 the daily telegraph could break even or better said black citing major reductions in labor costs and improved technology at the telegraph britains largest circulation quality daily
the timing is favourable for japanese parties to buy up potential overseas businesses especially in the us japans largest market and where political risks are minimal a takeover specialist at one trading company said
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
laidlaw transportation ldmfa sees better year
contel corp said it has agreed in principle to acquire walker county telephone co of lafayette ga for an undisclosed amount of common stock
the increase came after a 06 pct increase in producer prices in january
what we have now is pins iv he said
redstone said the management groups investment bankers will be paid what is due for termination of its merger agreement
futures soared through the 1000 points barrier today for the first time in the spot position since the market opened in may 1985
in january they fell to a seasonally adjusted 11752 bilion dlrs and in february rose to 12229 billion dlrs
cotton in mln 480 lb bales stocks july 31 1987 at 540 vs 549 last month
canadian satellite communications six mths net
shoneys inc shon sets payout
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
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
the losses were even greater than the 480 mln marks announced recently by volkswagen as a result of fraud in currency transactions
ecuador president ratifies unilateral suspension of debt payments to private foreign banks
blockbuster entertainment bbec selling unit
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
the company said conditions to the twa offer include twa obtaining financing the usair board redeeming defensive rights issued to shareholders last year and acting to render the fair price provision contained in usairs charter inapplicable to the twa offer and transportation department approval
lawson says he is content with current sterling exchange rate
earlier this week some 65000 dockworkers cancelled a scheduled national strike to pressure port officials to give them a wage increase and other benefits
coniston group to continue bid for allegis aeg 
the imposition of the code scheduled for last january has been delayed by objections from some business groups
a small loss was recorded for the first nine months of 1986
ec grants export licences 197000 tonnes free market maize zero barley paris traders
the underlying inflation rate this year would be unchanged at about one to 1 1 2 pct he said
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
computer identics corp cidn 4th qtr
bank sees modest recovery in gulf arab economies
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
in the fiscal 1986 fourth quarter the food processor reported earnings of 40 cts a share
world bank to support sri lanka if deficits cut
more
poll majority disapprove of reagan presidency
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
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 
progressive shares ended at 435 dlrs rainbow at 342 and bil at 417 at the close of new zealand stock exchange trading today
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
ekn bank sets 25 mln swiss franc warrant bond
i dont think the world price is lower than our price anyway however the usda secretary said that if current conditions of surplus production persisted it might be appropriate to consider a marketing loan
istanbuls ataturk international airport has been closed since yesterday
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
first american financial famr in special payout
it ongpins stand is going to make it much more difficult for the economy to attain its growth targets monsod said
miyazawa said major nations are trying hard to stabilize exchange rates
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
the ec steel industry has already shed 240000 jobs this decade while reducing annual capacity by 31 mln tonnes
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
domestic exports slid 289 pct to 999 billion dlrs from januarys 1405 billion dlrs but were up 197 pct over the 835 billion dlrs recorded in february 1986
shultz ussr trip fuels talk of eep wheat offer
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
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
dean also said the company will benefit from its acquisition in late december of elgin blenders inc west chicago
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
the company also said it finalized an agreement with a canadian marketing company to introduce the product in the country
us grain analysts see lower corn soy planting
the action reduces the guarantee lines previously authorized of dry edible beans to by five mln dlrs to 45 mln dlrs and for rice from five mln to zero and increases coverage for wheat sales from five mln to 15 mln dlrs
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
a loss of this size could cause a gap in the supply pipeline particularly in north america they noted
the report said the firmness in oil prices was likely to continue in the short term
cuba sugar crop seen at least same as last year
the fed previously said the rate was 797 pct in january and 795 pct in december
todd shipyards tod struck on west coast
andriessen did not give full details but said member state aid would be subject to strict criteria to avoid distortion of competition ec payments would aim to help farmers to survive a difficult period while the ec tackles the problems of surplus production
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
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
rooter said it discovered additional information relating to united western and the unaffiliated privately held corporation which had guaranteed all of united westerns obligations under the agreements
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
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
restaurant management services resm in payout
last night the company urged shareholders to reject the tender
fees comprise 1 1 2 pct selling concession and 1 2 pct management and underwriting combined
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
t
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
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
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
it said computer technology by light signatures initially will be used to safeguard warranty glass
ciba geigy ag cigzz said it would establish a joint venture with phillips petroleum co
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
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
penta systems international inc psli 4th qtr
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
at least four of the five major exporters expect to see a drop in wheat sowings without offset in other countries
valero energy vlo debt upgraded by moodys
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
general cinema corp gcn common stock dividend
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
it plans on filing a rate application with the public utilities commission of ohio to recover the perry costs later this year
qtly div nine cts vs nine cts in prior qtr payable may one record apreil nine
fees comprise 3 4 pct selling concession and 1 2 pct for management and underwriting
caesars world owns casino hotels in nevada and honeymoon resorts in pennsylvanias pocono mountains
under the pact pacific state will become part of the us bank branch system
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
neither hutton nor purolator had any immediate comment
it said while rains in the northern mountain region are improving the supply of irrigation water the major benefits will not occur until the 1987 88 season
amr amr citicorp cci to set marketing pact
gros himself said pushing the problem away for 90 days at a time is not very useful
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
belgium details pricing plan for ecu gold coin
the sources said the west german interest rate rises had to be seen in the context of interest rate developments worldwide
the most recent bond on the list was issued in 1985
any trades would be negotiated
the banker said today a letter of intent was signed three weeks ago but the sale requires approval from government agencies charged with selling private sector assets taken over by state owned banks
youre in a cat and mouse game on how youre going to up the price
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
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
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
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
we are already making vast losses in surinam and you cant expect any company to remain operating with losses the spokesman said
the company has agreed to sell its oil and gas properties to victoria exploration nl of perth western australia
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
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
zhang zhongji spokesman of the state statistical bureau quoted the figures as showing exports rose 27 pct to 728 billion dlrs and imports fell 51 pct to 833 billion
advance circuits inc advc 2nd qtr feb 28 net
maryland said the new name only will be used for the parent and it does not plan to change the names of maryland national bank american security bank or non bank affiliates
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
but the report said the growth rate of malaysias external debt remains worrying and should be controlled
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
some of the industrys biggest companies such as exxon corp xon mobil corp mob and union texas petroleum have already indicated plans to increase spending for drilling later this year in the gulf of mexico crandall said
it is a major arms supplier to iraq but has also sought broader contacts with iran in the last year
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
shared medical systems corp smed sets payout
canadian pacific ltd 4th qtr oper net 30 cts vs 20 cts
the pay dispute went before a hearing of the arbitration commission today
camdessus said his agency had to study the problems of the ivory coast but a solution depended on a coordinated effort between the country itself the commercial banks other governments and international finance institutions
taiwan to tender for 27000 tonnes us soybeans
hecla mining co said it has agreed to purchase a 28 pct interest in the greens creek joint venture from british petroleum co plcs amselco minerals inc unit
agrimont still wholly owned by montedison is taking steps to be traded on the milan exchange the company said
petro canadas posted price for the benchmark light sweet grade edmonton swann hills at 40 api gravity now stands at 2195 canadian dlrs bbl
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
montreal city district savings bank 1st qtr
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
consolidated bathurst said the outlook for its europa carton unit is mixed
chelsea chd sees lower 2nd qtr net
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
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
4g data systems gggg 3rd qtr net
the broker who requested anonymity said virtually all his venezuelan customers had stopped doing business with him since the central bank issued the telex and followed it up with telephone calls
this agreement helped send prices sharply higher rising from 15 dlrs a barrel in early december
in return america called on the debtor countries to enact economic reforms promoting inflation free economic growth
ongpin said the prepayments were part of seven different scenarios philippine negotiators prepared before the talks
bangemann also spoke out against protectionism and called for more competition citing as an example the federal post office
us 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 medical is expected to resist peschs latest bid
erie lackawanna inc erieo 3rd qtr net
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
house speaker backs oil import forecast plan
level v wheat barley after 5 14 82 corn sorghum after 7 1 82
seasonal stabilisation seen for coffee prices
viacom said it has new national amusements mcv holdings bids
principal repayments were not due until 1990
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
but poehl played down the risk of inflation
panama sugar vessel safely docked at greenock
bank of japan governor satoshi sumita threatened central bank intervention if necessary
general partners is equally owned by investors wagner and brown and glass maker afg industries inc
canada stocks dome petroleum ltd dmp 
the payment date is march 31
analysts and some wall street sources said they doubted another bidder would emerge since purolator had been for sale for sometime before a deal was struck with hutton friday
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
otherwise they fear the gradual re establishment of normal market conditions for latin borrowers will be set back
cumulative net pack for the season was 86254846 versus 82355864 a year ago
kaneb energy partners ltd 82 pct owned by kaneb services inc kab said a juiry in circuit court of tuscaloosa county ala has ruled in its favor and that of jim walter corp jwc against sonat inc snt in a dispute over a natural gas sales contract
sweden heavily dependent on imported oil suffered a major crisis in the mid 1970s when oil prices spiralled
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
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
backlog 130 mln dlrs vs 3733000 dlrs
under various options the in the agreement pdvsa could supply another 50000 bpd on similar terms the company said
president ira stepanian told the shareholderss meeting the banks total loans to argentina brazil and mexico totaled 875 mln dlrs at the end of 1986 37 pct of its primary capital
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
the ministers stopped short of imposing their own solution immediately instead urging steel producers to try again to reach agreement on voluntary cutbacks
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
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
excludes 1987 qtr 1694000 operating loss carryforwards vs 78000 qtr prior
oecd trade growth seen slowing in 1987
treasury bills advanced on the week
gateway federal savings gatwo 3rd qtr net
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
spectra physics said a letter communicating the boards recommendation and reasons therefore is being mailed to stockholders
apparently trump said he was interested in it as an investment
the accords were reaffirmed by the group of seven finance ministers in washington last month
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
raybestos with manufacturing facilities in radevormwald west germany produces friction materials for use in clutch and braking applications
sun cos sun refining and marketing co subsidiary said it is decreasing the price it charges contract barge customers for heating oil in ny harbor by 050 cent a gallon effective today
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
anything that would serve to have a chilling effect on foreign investment is going to cost us jobs and economic growth farren said before a congressional coittee
terms will be fixed within five days and the conversion premium is expected to be 24 to 26 pct above the share price
the partnership said the payout is the largest quarterly cash distribution allowable under terms of its letter of credit
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
bank of japan to sell 300 billion yen in bills
the redemption of an attractive double digit yield issues has tainted nabisco in investors eyes said one trader
robbin johnson vice president of cargill inc testified in favor of decoupling
mannesmann ag mmwgf said it has reached a series of agreements giving it an indirect majority stake in the fichtel und sachs ag car parts group
there are already signs of change
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
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
imports fell by 94 pct in february from january
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
international lease finance corp ilfc shelf offering of up to 1000 shares of dutch auction rate transferable securities darts preferred stock through salomon brothers inc and shearson lehman brothers inc
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
arco raises crude oil prices 50 cts barrel today wti to 1900
qtly div eights cts vs eight cts prior pay april one record march 13
general partners is comprised of investors wagner and brown and afg industries inc a glass manufacturer
however the meeting did not identify what those areas are carney said
dutch official rate cut seen still likely
bankers remain hopeful that an agreement can be reached by the middle of the month
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
certainteed a us building products company is 57 pct owned by cie de saint gobain sgeppa the recently privatised french glass and materials group
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 is a routine procedure followed by all other gatt member states
international thomson organisation ltd said it will report financial results in us funds rather than sterling beginning from jan 1 1987
profits from the chemicals sector rose to 33 mln stg from 11 mln after the rationalisation of the carrington chemical site
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
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
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
exports in 1986 87 at 1350 vs 1350 last month
versar inc vsr to make announcement
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
americus trust byu byp initial qtrly div
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
moodys pointed out that losses escalated throughout 1986 and said it expects only a partial improvement this year
council action is expected soon
cannon can sells library to weintraub
south korea has ruled out a major revaluation of the won but is allowing its currency to appreciate slowly
bilzerian prepared to tender for pay npak pnp 
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
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
south louisiana sweet also up one dlr is now 1785 dlrs
negotiators at a united nations conference on natural rubber are making slow progress towards reaching an agreement delegates said
the commission also discussed the possible participation of spanish companies in the cuban tourist industry
if this continues we can entertain the notion of fed easing at some point he said
versar inc said it has agreed in principle to acquire martin marietta corps martin marietta environmental systems unit for about 5300000 dlrs
industry analysts said some imports of algerian lng were feasible
growth in the fiscal year beginning next month will only pick up 22 pct from two pct in the current year he said
the paper said 43000 hectares in meixian county in guangdong are seriously short of water
the wednesday average rose to 946 mln dlrs from 148 mln a week earlier
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
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
cyclops corp said shareholders approved a previously announced merger of the company with a subsidiary of dixons group plc
total corn commitments to the ussr for delivery in the fourth agreement year amount to 2825600 tonnes
the central bank bought outright 104 mln stg in bank bills in band two at 9 13 16 pct
angell care master lp acr raises quarterly
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
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
three us senators said they will propose a temporary ban on imports of all toshiba products due to the companys illegal sales of sensitive high technology goods to the soviet union
franco nevada stock is up two at seven dlrs per share on the toronto stock exchange
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 limit at the other end of the scale is set at 11450
but no longer
this is going to raise some eyebrows at the fed mccarthy said
toronto dominion issues 20 billion yen eurobond
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
in frankfurt banks will close on tuesday in the afternoon
the group did not say whether the talks resulted in any agreements
the meeting at this north island tourist resort is described by participants as informal and no declaration is expected
gelco gel sees flat 1987 pretax operating net
dixons said it would accept shares validly tendered and not withdrawn by midnight tonight
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
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
new jersey investor buys 52 pct of kinark kin 
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
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
britain also warned that the tax could hit developing countries already receiving aid from the ec they said
to be eligible winter wheat farmers could not plant a different crop on that land this spring although they could use the land for grazing or to plant hay
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
the hague was the first dutch city to start a commercial paper program allowed on the dutch capital markets since january 1986
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
sterling investment group said it successfully drilled and completed a significant development well 65 miles southwest of houston texas
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
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
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
26 reported dead in ferry disaster
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
the intent is to avoid risk arising from unrecoverable debt owed by third world countries he said
snet sng sees good 1987 earnings
another 60 mln ecus could be added if ec ministers switch unused project credits to other programs the commission said
many had expected to fed to buy bills for itself thereby adding permanent reserves to the banking system
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
iran foreign minister tells cuba of gulf situation
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
aegon did not specify the loss
applied data adcco to buy dateline
the telex issued on may 19 was signed by carlos hernandez delfino manager of the banks department of international operations
the borrowers dont care which currency they use
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
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
one trade source said india has targetted countries that depend on an indian domestic market recently opened to foreign imports
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
mergers public offers seen among car dealers
owens illinois said that as of oct 19 1598789 common shares or about 13 pct of the outstanding shares of brockway have been tendered
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
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
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
the figure of 100 represents normal in a year of average growth conditions with no crop damage
this year well be reducing the stock of debt by 300 mln dlrs he said
oper shr loss 20 cts vs loss 63 cts oper net loss 439000 vs loss 1347000 sales 6303000 vs 5062000 six mths oper shr loss 43 cts vs loss 102 dlrs oper net loss 934000 vs loss 2333000 sales 121 mln vs 9878000 note oper data does not include 1986 losses from discontinued operations of 60000 dlrs or three cts per shr in qtr and 151000 dlrs or seven cts per shr in six mths
standard chartered and co lead mitsui trust finance hong kong ltd will take up some 60 pct of the loan
the statement quoted yu as telling finance ministy and central bank officials the relaxation was needed to help reduce taiwans surging foreign exchange reserves which reached a record 53 billion us dollars this month
he could sell grain on the free market at 560 yuan a tonne against only 70 yuan a tonne for sugarcane
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
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 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
this months reserves were 449 billion dlrs above march 1986s total of 328 billion dlrs
private banking earnings will hit 100 mln dlrs in 1987 and top 200 mln dlrs in 1992
philippine debt talks proceed with narrower focus
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
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
trans national leasing inc tnlso year loss
he cited several factors which will prevent an elimination of the deficit
but foreign ministry officials said foreign minister tadashi kuranari said that british exports to japan are increasing but acknowledged the continuing imbalance in trade
after the merger viacom will be a subsidiary of national but 17 pct of the company will be in public hands
sources said germany was the most extreme against quota re introduction while the italians were most in favour
i am optimistic he added
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
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
in fujian the cost of producing one tonne rose to 702 yuan in 1985 from 5201 in 1980 cutting the mills profit to 117 yuan a tonne from 2179 it added
petrolane partners lp lpg 3rd qtr loss
nz quarterly current account deficit narrows
american nursery ansy buys florida nursery
state oil firm agip petroli spa said it has acquired a 50 pct stake in steuart petroleum co an independent us oil products company
qlty div 25 cts vs 25 cts prior payable april 22 record april 10
tenneco tgt to transport gas on open access
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
following the refiners request representatives of the florida sugarcane producers met with usda to express opposition to any quota expansion industry sources said
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
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
late last month banner said it completed a tender offer for and held 96 pct of rexnords common shares
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
another amendment would place a quota on us imports of casein a dairy product shipped to the us primarily by new zealand and ireland
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
uk money market deficit forecast at 700 mln stg
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
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
chinese officials have said farmers are unwilling to grow grain because they can earn more from other crops
but jucker and finance director hermann haerri told a news conference the new management installed a year ago had decided to restate the previous five years accounts to eliminate rights on australian bauxite previously in the books as an asset
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
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 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
on our part we are careful to avoid any actions which might add to such volatility
rain was needed in the southwest west central and northeast regions and other regions were expected to need rain soon
the balance comprised 38000 tonnes of grains and oilseeds and 98000 tonnes of derivatives
roach said he expects first quarter us gnp to rise two pct to be followed by a gain of 10 15 pct at best in the second and third quarters
shipments to mexico fell 19 pct to 19 billion marks and to colombia by 15 pct to 600 mln marks mittendorf said
the terms of the previously announced deal were not disclosed
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
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
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
kaneb energy partners ltd kep 4th qtr loss
as far as south africa is concerned it looks like very good news one source said
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
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
future quarterly sessions are scheduled for october 5 7 and december 14 16
s p sees stable credit quality in first quarter
i expect by the early 1990s the us will be running a net trade surplus roderick said
london grains sees wheat recover from lows
asarco inc said it is decreasing its domestic delivered copper cathode price by 150 cents to 670 cents a lb effective immediately
monetary and credit growth rates in new zealand are not expected to continue at current levels following the reserve banks move to tighten liquidity late last year reserve bank governor spencer russell said
lsi lighting systems inc lytso 1st qtr net
existing us tax loss carryforward benefits in the us are not materially affected the company said
dunham and other officials opposed the idea of a fee on oil imports but said if one is enacted it must tax crude and product imports
home federal savings and loan association of upper east tennessee
the payment date is april 27
klm seeks stake in british courier service
whittaker wkr completes sale of medical unit
domestic industrial automation and control orders were modestly higher than the same period in 1986 it said
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
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 study on grain certificates due out shortly from the government accounting office gao could show that certificates cost the government 10 to 15 pct more than cash outlays administration and industry sources said
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
the most recent public authority loan stock issue for the state road building fund fonds des routes was also for eight years with an eight pct coupon
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
desoto dso sells industrial chemical assets
some mechanism has to be found to finance a country like brazil funaro said
big us conservation enrollment expected
jacobs said he sold his gillette stake based on an investment decision
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
liemandt took charge of wyly sold off its non computer businesses and decided that it would focus solely on mainframe computer software
the cost of failure is beyond calculation
skapin told reporters in brussels yesterday the requested loan accounted for only 10 pct of total funds needed for these projects tanjug said
bank of england announces one billion stg tap
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
supporters of the bill said passage of the bill was only a first step toward a greater congressional involvement in formulating policy
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
mco mco maxxam mxm holders approve merger
wendys also fumbled when it introduced a high priced breakfast which it has since withdrawn analysts said
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 company said the profit decline will be the result of an increase in reserves for inventory valuation
marx said the talks should not drag on
in addition the value of roasted coffee should be substantially higher than that of unroasted beans they said
many economists and analysts believe soybeans could be the focus of possible stepped up brazilian marketing efforts
chrysler doesnt need that many new plants said michael luckey automotive analyst for the wall street firm shearson lehman brothers
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
medical properties mpp sets monthly dividend
an ifo report said recessionary influences were affecting the engineering industry particularly
the seaway moves about one half of canadas exported grain
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
china has added 30000 tonnes of us corn to its previous commitments according to the us agriculture departments latest export sales report
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
the commitments made at these meetings need to be translated into action
violators would be severely punished according to the price freeze order signed by five cabinet ministers
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
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
us treasury assistant secretary david mulford said he foresaw substantial net new commercial loans to the major debtor countries in 1987
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
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
basf 1986 world group pre tax profit 263 billion marks vs 304 billion
foster said certain stearn officers and senior management made stearns operations appear more profitable than they were by improperly recording job costs
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
and its related entities
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
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
march lower mississippi river memphis cairo 112 1 2 pct bid 120 offered no comparison
subscriptions to the issue close april 17
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
he also said the company was hiring new workers
saxton industries ltd saxif year net
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
other miscellaneous amendments included urging the administration consider retaliating against japan and south korea if those countries do not remove restrictions on beef imports
this weeks yield was 834 pct compared with the previous weeks 833 pct
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
oil analysts and traders said they were not sure if the shutdown will continue to raise us oil prices
prices have been on the increase and quality of goods produced has been low
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
officials said afterwards the three men had reaffirmed their commitment to the louvre accord on currency stability
we expect significant increases in earnings and revenues in 1987 steven rales danaher chairman and chief executive officer said
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
south korean money supply falls in march
he did not detail the commitments already made but an awb spokesman said they include sales to egypt china iran the soviet union and iraq
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 two departments are trying to hammer out an accord on how to fund the increasing share of food aid required to be shipped on us flag vessels under a 1985 farm bill provision on cargo preference
that angered washington
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
horizon services 32 billion dlrs in mortgage loans
dale burdett inc said it faces damages claims totalling about 420000 dlrs from the former owners of burdett publications inc
accordingly we will dismiss the application
it would also mean compensatory allowances in less favoured farming areas would be extended to crops
eyskens said liberalisation of capital movements without strengthening the ems would be an element of destabilisation in the community
bundesbank bought dollars against yen dealers say
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
the company will operate as boart msa pty ltd it said
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
french primary bond market shows new sparkle
an attack on a warship is a cause for war but he added we are not in a state of war
schenker said costs of the companys merchandise will not increase
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
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
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
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 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
call money declined to 365 75 pct from 375 85 pct but the drop was tied to extra liquidity in the market dealers said
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
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
1985 4th qtr and year net includes loss in metcap unit of 108598 dlrs and 298412 dlrs or 16 cts per share respectively
although there have recently been signs of inflation picking up he said that this was due to changes in key commodity prices
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
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
qtrly div 34 cts vs 34 cts prior pay may 1 record april 15
acceleration corp acle 4th qtr
american software inc said its board declared a three for two stock split on class a and class b common shares payable march 31 record march 16
the real problem is the freeing of interest rates the banker said
it also said it will concentrate on its direct brokerage and service business
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
the utility expects the redemption will save it nearly three mln dlrs annually in interest expenses
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
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
second an apparent shortage of treasury bills apparently left wall street dealers with too little collateral with which to enagage in repurchase agreements with the fed economists said
a portland based wood products company has signed a 13 mln dlr contract with the iraqi government to supply finished softwood lumber to iraq edward niedermeyer president of niedermeyer martin co said yesterday
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
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
us agriculture secretary richard lyng said he is very disappointed by a canadian government finding that us corn has injured ontario corn growers
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
dotronix inc said it agreed in principle to buy video monitors inc a privately held company
buffton said its share will cost 400000 dlrs
what were doing is lowering the price to get more bulk cargo flowing through here a spokesman for the new york shipping association said
canada development said the purchasers do not plan to acquire the remaining publicly held shares
the way he is operating at the moment is doing almost nothing to support the market
american motors said earlier than an arbitration award made to emerson electric co emr in february amounted to 60 mln dlrs plus legal expenses
william reynolds who became chairman last year has been emphasizing the companys aerojet general and diversitech general businesses
however some dealers said london based operators would be unlikely to open major positions next week ahead of the long easter weekend
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
merrill lynch and co mer 1st qtr net
selling was described as relatively modest although very few buyers appeared to take up the slack
the problem is that aquino has inherited her political system from former president ferdinand marcos the banker said
they said french west german and dutch officials had informed the committee that traders in their countries intended to sell just over 850000 tonnes of sugar into ec intervention stocks
thai sugar production increases
in an exclusive interview with lyng said he did not know if the united states will offer moscow another wheat subsidy offer this year or when that offer will be made
smith sees ge earning 135 dlrs per share in the current quarter
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
labour minister almir pazzionotto said the government will not force a settlement of the strike which was ruled illegal last friday
total sales were 64100 down 15900
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
well be back in position in first place within three years komatsu said in an interview
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
cable itself had issued no statement today on the issue
deutsche was lead underwriter for the 213 billion dlr fiat placement announced on september 23
excluding bojangles the group had revenues of 438 mln dlrs
finance minister gustavo petricioli who signed the accord for mexico said the agreement reflects a strengthening of economic financial and trade relations between the two countries
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
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
pakistan cotton crop seen record 76 mln bales
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
wallis was quoted as saying the reagan administration wants japanese cooperation so the white house can ensure any us trade bill is a moderate one rather than containing retaliatory measures or antagonising any particular country
bolivias agreement with the imf its first since 1980 opened the door to rescheduling negotiations with the paris club and argentina and brazil which hold 25 billion dlrs of bolivias 40 billion dlr foreign debt
becor western bcw again adjourns holder meeting
s p downgrades four texas banks
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
it also secured a 20000 tonne cargo of optional origin rapeseed oil for may 15 jun 15 shipment at 321 dlrs cif
africas total external debt was estimated at 175 billion dlrs at the end of 1986
canadian money supply falls in week
shell canada raises crude oil posting 32 canadian cts bbl
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 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
it has received 107 billion dlrs from the world bank in the past 20 years
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
and f
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
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
the profit rise was achieved despite substantial cost increases and a 261 pct rise in capital expenditures to 242 billion rand it said
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
a wendys spokesman said it was corporate policy not to comment on market rumors
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
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
hanson trust plc unit to sell kaiser cement terminal and plant for 50 mln dlrs
the transaction was approved by the us bankruptcy judge in denver who is hearing kaiser steels chapter 11 reorganization case
however analysts agree the bank is largely trying to set the timing of a cut than holding out against one altogether
reserve bank policy has also reflected the increased interest in investment in australia and the need to shield japanese investors from rapid currency fluctuations
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
shr 13 cts vs 5 cts net 5568319 vs 2968437 rev 365 mln vs 340 mln 12 months shr 160 dlrs vs 179 dlrs net 72865101 vs 85198853 rev 5213 mln vs 4203 mln note twelve months includes the cumulative effect of a change in accounting methods for accruing unbilled revenues of 114 mln dlrs or 28 cts per share
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
bp shares closed down 33p at 317p as the ft se 100 share index crashed a record 2496 points more than 10 pct
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
gencorp should not accept any other proposal containing defensive features it said
firm sells entire allegheny intl ag stake
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
he said he has extended the expiration of the offer until april 14
canamax to acquire krezmar gold property stake
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
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
combustion paid about 218 mln dlrs for accuray a maker of computer based measurement and control systems used in pulp and paper mills
us industrial capacity use rate 812 pct in september unchanged from august
the two companies have previously completed the drilling of gos iia 1 exploratory well around 14 kms south of gos ia 1
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
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
the french authorities reaffirm their attachment to the freedom and security of navigation and to the right of all states to take action under international law and the united nations charter to halt attacks such as that of october 16 the foreign ministry spokesman said in a statement
a hefty slice of new us treasury supply is not the most welcome prospect for a slumbering credit market but at least this weeks offerings should provide it with some focus economists said
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
raised were the companys senior debt to a minus from bbb plus preferred stock to bbb plus from bbb and preliminary rating on shelf securities to a minus from bbb plus
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
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
this is the first time in many years that a factory has been closed in mid campaign the spokesman added
the balance will be shipped from mackay by end march harper said
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
the bundesbank is likely to steer a steady monetary course over the next few weeks and a change in credit policies is not expected at tomorrows regular central bank council meeting bank economists and dealers said
the deal does not include the decoration or fitting out of the interior of the hotel
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
japan expected to cut base rate for state bodies
he declined to quantify the inventory shortage but said it was the major reason for the decline in earnings
brent is valued at 1945 dlrs up 56 cts a barrel or three pct from the previous week
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
anyone outside the program is subject to the wiles of the market said walter brown market analyst for a major california cotton producer
dome does not consider transcanadas proposal a formal offer because the pipeline utilitys announcement breached a confidential agreement between the two companies he said
citibank sells mark australian dlr warrants
yeutter said the accord was reached after extensive bilateral negotiations that ended earlier today in tokyo
supermarkets also said it retained shearson lehman brothers inc to advise its board of directors on the proposal
failure of ec farm price talks disrupts tenders
it said b and d is a private company headquartered in kansas and had sales of 4700000 dlrs in 1986
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
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
while this is about the same price as us corn ec corn has lower transport costs the department noted
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
but us charges of unfair trade practices involving computer microchips leave europeans cold
newly installed philippine coconut authority chairman jose romero has announced the appointment of lawyer leandro garcia as administrator replacing colonel felix duenas who is returning to military duty
bsn bsn sees higher 1987 net
in its filings with the sec twa said it paid 1782 mln dlrs for its usair stock
combustion engineering csp sees 1st qtr net off
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
taco bell recently acquired 99 pct of calnys outstanding stock calny said
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
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
this fell to 76000 in 1986 and this year its quota is only 37000
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
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 issuing centre of the swiss regional banks said it is launching two bond issues of 90 mln and 58 mln swiss francs
the cso stressed that figures for invisible transactions particularly for the most recent quarters are liable to substantial revisions as later information becomes available
nigeria france to reschedule official debt
it said the debentures are redeemable at a price of 100 pct of the principal
thyssen ag thyhf expects a fall of between 15 and 20 pct in consolidated turnover in 1986 87 chief executive dieter spethmann said
the company said the transaction is subject to approval by shareholders of valor and is expected to be completed within 40 days
she said the fed takes into account additional factors in determining monetary policy than the value of the dollar against other currencies
this compares with the banks forecast of a 300 mln stg shortage in the system today
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
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
the company said it also asked the court to award jwt unspecified damages
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 dominican republic sold 35000 long tons of sugar for immediate delivery with an option for 25000 tons more to czarnikow rionda of new york the state sugar council announced
treasurys baker calls for new brazil plan
wall street stocks browning ferris bfi 
shr profit one cent vs loss 29 cts net profit 116000 vs loss 4195000 revs 202 mln vs 6393000
india is searching for non communist countertrade partners to help it cut its trade deficit and conserve foreign exchange
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
loral corp lowered by standard and poors affects 640 mln dlrs of debt
lee told the incentives to be introduced in may or june include bank loans and a reduction in capitalisation requirements for businesses seeking to invest in the us to 10 mln taiwan dlrs from 20 mln
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
in the year to end january woolworth reported pretax profits sharply higher at 1153 mln stg after 813 mln previously
ny traders expect china to step up sugar buying
it was the first drop in liabilities in a year and resulted from repayments of borrowings the bank board said
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 added that both japan and the united states must take account of the impact of their dispute on their own and the world economy
dutch port union to meet parliamentarians today
the earths upper ozone layer absorbs most of the harmful ultraviolet rays from the sun
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
moore mccormack mmc to sell globe unit
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
prices were off 14 to 20 1 2 cents with november off 19 1 2 cents at 543 1 2 dlrs
yeutter puts currency burden on taiwan korea
nogales said that bolivias net international reserves now stood at around 250 mln dlrs compared to one mln dlrs in disposable funds when the government of victor paz estenssoro took office in august 1985
a far better answer than protectionism would be structural change within the japanese economy the kind suggested by the maekawa report
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
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
c i l acquiring trimacs stake in tricil
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
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
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
dollar general corp dolr qtly dividend
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
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
world bank loans turkey 325 mln dlrs
qtly div 12 1 2 cts vs 10 cts prior pay april 15 record march 31
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
rochester gas and electric corp rgs in payout
imf official resigns charging us loan pressure
grounded british bauxite vessel refloated in orinoco
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
oil production is forecast to fall slightly in 1987 according to the statement
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
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
moodys actions affect 188 mln dlrs of securities
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
the exercise period for the b series is from august 8 1987 to may 5 1991
january output was 198 pct down on january 1986
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
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
redemption will be en bloc at par at the end of its life and the payment date will be march 30
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
if it buys more shares metropolitan said it would consider doing so in the open market in private deals or through an exchange offer tender offer or merger
ford motor cor said that profit sharing checks were distributed to employees in its us facilities
corrected gm gm to idle six plants
one consumer country delegate said this would distort not support the market
the senate voted unanimously to seek an expedited us probe of canadian tariffs on corn imports to determine if the united states should retaliate
us says usair u may buy 51 pct of piedmont
the other dealer is swiss bank corp international ltd and issuing and paying agent is morgan guaranty trust co of new yorks london office
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
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
analyst thomas ogrady said chrysler would be getting more manufacturing capacity including a brand new plant in canada for a bargain price and renault would be getting some return after its prolonged loss making investment in amc
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
stearns based in crowley texas makes airport baggage conveyor equipment and passenger loading bridges
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
the company temporarily extended the offer on june 17 but did not give an expiration date
us officials said japan had done nothing since the march announcement to alter reagans plan to invoke the sanctions
the new contract effective in june calls for shipping 23200000 pounds of blanks to the mint in philadelphia and 7600000 pounds to denver
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
the houston based banks 1986 financial statements received a qualified opinion from its auditors arthur andersen and co
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
brokers said the new deal took them by surprise and all major players stopped making markets in existing issues
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
imports fell 92 pct from the previous month to 2772 mln dlrs
sprinkel says tax hike would not reduce deficit
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
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
sumita says he does not repeat not expect dollar to fall further
canadian bashaw leduc oil and gas ltd said it agreed to merge with erskine resources ltd
market response to the treasurys 24500 billion lire offer of short term treasury bills was mixed with three month paper in strong demand but six and 12 month bills undersubscribed bank of italy figures show
laser corp said that costs associated with its defense of two shareholder lawsuits could result in a net loss for 1987
although the figures were lower they were nonetheless at the top end of market forecasts
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
in 1985 the company lost 1684 mln dlrs or 1227 dlrs a share
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
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
tenneco tgt declines comment on stock
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
mcguinness is a producer and marketer of spirits and also has exclusive agencies for some imported wines and spirits
papandreou expressed qualified optimism after briefing opposition leaders on aegean developments early yesterday
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
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
preussag has frequently said its results came under further pressure in 1986 following a difficult year in 1985
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
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
operating results exclude discontinued operations which had year loss of 364000 dlrs vs profit 313000 dlrs
but he said harper and row has plenty of beef to warrant a 50 dlr bid
ca bolsters hand against ibm
us first time jobless claims rose in week
the non callable bonds will be listed in london and will be issued in denominations of 1000 and 10000 stg
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
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
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
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
he told a tokyo reception his country hopes to raise crude and products exports to japan to earlier levels but did not elaborate
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
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
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
murphy oil corp mur sets regular dividend
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
the debentures are exchangeable through the redemption date into 29205 common shares of painewebber group inc pwj for each 1000 dlrs principal amount
a lot of soymeal dealers are just getting very worried about where processors will get their soybeans this summer one illinois soyproduct dealer said
it also forces the administration to act rapidly when an industry complains that a surge in imports threatens its existence
discoveries and other additions totaled 2005 billion cubic feet last year up from 1759 billion in 1985 it added
loctite corp loc 3rd qtr march 31 net
but they said it might make new lending even more remote
fed data provide new evidence of tighter policy
in the ongoing probe allegheny said the staff has asked for information about company executive compensation and benefit plans certain company owned real estate travel and entertainment spending and the use of corporate aircraft
sheldahl inc shel 2nd qtr feb 28 net
there is a selling concession of 1 1 4 pct and a combined management and underwriting fee of 5 8 pct
m 1 money supply data for the march 9 week will also be released
foreigners do not receive the corporation tax bonus granted to domestic investors for share dividends
first southern fsfa to make acquisition
analysts are estimating united technologies will earn 375 dlrs to 450 dlrs a share in 1987
the proposal is subject to approval by gates learjets board
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
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
the shanghai official said that in one suburb 10 pct of the pre tax profits of factories are used to subsidise agriculture
as a result some banks fell back on the bundesbanks offer to mop up liquidity via the sale of three day treasury bills anticipating still lower rates before the month end
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
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
us reasserts plans for deterrent role in gulf
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
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
hernandez grisanti said the supply demand balance was precarious and prices were in danger of falling from their current average of about 18 dlrs per barrel if overproduction continued
hard hit by loan losses in energy and real estate in texas struggling economy the only major texas banks able to report profits in 1986 were texas commerce and republicbank which earned 540 mln dlrs
the union official said he believed this issue would be resolved shortly
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
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
natural gas exports plunged 194 pct to 2109 billion cubic meters while canadian sales slipped 41 pct to 4809 billion cubic meters
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
the cabinet has approved a bill making it easier for the government to issue commemorative coins a finance ministry official said
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
terms were not disclosed
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
note loss 1986 includes 39 mln dlrs for restructuring costs associated with disposal of property
in february 1986 the output index had stood at 1037 producing a year on year rise for february 1987 of 04 pct
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
the utility had sought 1441 mln dlrs in rate hikes in texas
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
demand totalled 682 billion francs and prices bid ranged from 9350 to 9660 pct
rice season begins august 1
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
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
lyng opens japan talks on farm trade barriers
he told reporters the term sheet detailing the changes in the rescheduling has already been endorsed by the 13 member debt steering committee and is now being sent to the countrys 460 creditor banks for their approval
the agency will also consider the possibility of future asset sales to reduce acquisition related debt
world bank chief urges more japanese investment
turner equity investors inc teq payout
uae oil minister oteiba visits egypt agency
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
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
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
tbn 15000 mt bulk sugar queensland japan 1465 dlrs fio 10000 1000 20 30 4 csr
porsche expects improvement in us sales
noranda said work crews have begun securing the ramp leading into the zone where the fire was located
alcan aluminium ltd alto 3rd qtr net
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
japan to sell 200 billion yen in bills traders
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
belgrade march 30 yugoslav trade is declining rapidly this year in hard currency terms according to the latest federal statistics office fso figures
the firm has nearly 97 mln dlrs of debt and preferred outstanding
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
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
deregulation will mean more pricing discounts for large volume users but status quo for residential users said painewebber group analyst jack grubman
japanese finance minister kiichi miyazawa expects the dollar to rebound soon a ministry spokesman said
energy prices were 122 pct below year ago levels
ec concerned over us textile import moves
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
richard gephardt a democratic presidential aspirant from missouri has the support of wright and other key democrats to press for passage of the amendment
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
china can further develop its foreign trade system so as to gain the maximum benefit from its gatt participation he said
qtly div eight cts vs eight cts pay june one record may 15
koninklijke nederlandsche hoogovens en staalfabrieken nv said it expected a clear loss for 1987
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
the government has to call an election by january 1988
morgan all of dallas for warrants to acquire 101 mln shares of jm stock and three mln dlrs of notes
arden group ardnao plans issuer tender
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
national westminster bank usa is a wholly owned subsidiary of national westminster bank plc
bauer said the 20 pct limitation would only apply to the initial stake
net interest income rose on firmer interest margins by 161 mln marks to 3816 mln
it called the bill anticompetitive and warned that it would force higher gasoline prices for georgia motorists
the estate and family members hold 78 pct of the 752297 class b shares outstanding
about 12 billion dlrs of long term debt was affected
tenera lp said it will make an initial quarterly distribution of 17 cts per unit on april 15 to holders of record march 31
australian fourth qtr gdp rises 11 pct after 02 pct third qtr rise official
companies also rated their export possibilities higher
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
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
philippines to sign formal debt accord in july
the benchmark is based on short term interest rate movements while the base rate is tied to longer term trends
in the latest us japan trade row president reagan has threatened to raise tariffs on selected japanese electronic goods by as much as 300 mln dlrs alleging that japan has failed to abide by a 1986 us japan pact on microchip trade
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
for the five years through 1991 crossen expects marion to have a growth rate of 55 pct
control data cda unit sells five year notes
amocos first south china sea exploratory well flows 2240 barrels of oil daily
cyacqs main equity investor appears ready to pull out and deal directly with us for merely part of the company said dixons
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
cocoa production and exports are forecast to rise steadily as the government develops cocoa plantations
bonds closed at 786 pct on friday
ships held up at calcutta
dasa corp dasa year net
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
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
lloyds bank matches base rate cut to 105 pct
japans ntt forecasts profits fall in 1987 88
laser photonics inc lazro closes sale
he pointed out that the regions debt rose by only 28 pct last year to a total 396 billion dlrs
belgian government to cut financial requirement
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 board meeting looks set to end today a day earlier than scheduled delegates said
payment date on the issue if april 15 1987 and the first coupon will be short
the acp estimates this would result in a fall of 160 to 185 mln ecus in its member country exports
rabobank launches 250 mln guilder bullet
the market reacted nervously because the dollar has been moving narrowly against the yen since mid january sumita said
federal reserve board governor martha seger said there were signs of helpful stability in foreign exchange markets in recent weeks
kenyan economy faces problems president says
oecd january annual inflation steady at 21 pct
the agency has proposed evaluating applicants credit using a variety of financial ratios instead of relying solely on cashflow ability
pesch unit seeks balance of republic health
a telecom spokesman said the agreement calls for payment of all but 29 mln dlrs of the price at closing
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
there was some speculation that american express had also considered a total spinoff of shearson but the plan was considered highly unlikely analysts said
another 70000 shares of the stake are held by an affiliate it said
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
ecuador minister raises questions about debt
negotiators were trying to reach agreement on the draft of a joint declaration setting up official relations after 30 years of mutual non recognition
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
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
the group said it reconsidered its takeover plans after the company announced it agreed to a stock swap
funaro said a mechanism would have to be found to end brazils debt crisis but it would not be easy
next week mississippi alton granite city mla if p o bid five points higher at 175 pct offered at 190
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
peat marwick and kmg main hurdman said their merger will be completed tomorrow
in addition in february us officials meeting with other major industrialized nations in paris agreed that the value of the dollar had dropped enough and that world exchange rates should be stabilized at around current levels
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 pins proposal has been laid aside the discussion is now on pricing of just the cash payments he said
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
anchor financial afcx to make acquisition
an investor group led by central national gottesman inc a new york investment firm and its executive vice president edgar wachenheim said they cut their stake in material sciences corp to less than five pct
japans largest bank the dai ichi kangyo bank ltd is also considering expanding its business here bankers said
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
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
anheuser busch bud sells sinking fund debt
dixons did not name the shareholder and did not disclose the holders stake in cyclops
the volume lent to ecuador would be discounted from its opec quota and would not affect venezuelas he said
the company said in a statement that parent company net profit last year will rise from the 72 billion lire reported in 1985
industry estimates vary on the proportion of opec oil exports actually sold at official prices
the minimum price fluctuation for the propane futures contract will be 001 cent per gallon or 420 dlrs a barrel according to the exchange
the brazilian coffee institute ibc is expected to maintain its previous pricing system when it reopens export registrations probably later this week exporters said
barley rebates of up to 13850 ecus were requested for a total of 40000 tonnes and at 139 ecus for 85000 tonnes
the company makes semiconductors memory components and related products
peru begins foreign exchange rationing
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
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
the february numbers surpassed the expectations of many financial analysts whose predictions ranged from flat to increases of up to five pct
reduced tin exports this year could cause the atpc to allocate a lower quota next year yoot said
this will only come once the overseas markets have had their run
kaunda said the auction system had faltered because of the governments shortage of foreign exchange to meet demand
he told the banks to stop complaining that there is no leeway in current procedures and to come up with ideas
ame president c
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
french prime minister jacques chirac opened talks with president ronald reagan expected to focus on superpower arms control moves and trade issues
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
the report said the french economy was increasingly ill adapted to demand selling goods at uncompetitive relative prices on both domestic and export markets frances poor export performance reflects a geographical bias in favour of markets less dynamic than the average and a substantial loss of market share in the past 18 months it said
net loss 705496 vs loss 182766 sales 642590 vs 1126315
they unit has been accounted for as a discontinued operation
sheppard resources to merge with cancer clinic
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
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
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
the payment date is may 7
so far today the bank has given the market assistance worth a total of 1501 billion stg
the stock jumped 2 3 4 to 79 7 8
bernstein and co raised its earnings estimate of the company based on expectations of better truck orders and truck tonnage traders said
terms will be set this week with a conversion premium of 25 to 28 pct
hrs said that the agreement also provided for a second stage over one year in which it had a put option exercisable one year from closing to sell qintex all or part of its two mln roach shares for 850 us dlrs a share
johnson geneva said the buy out was accomplished through onpraise ltd a hong kong company controlled by johnson geneva chairman michael johnson
no reason was given termination of the negotiations
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
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
the housing report is seasonally weighted to compensate for weather related setbacks
shr 39 cts vs 50 cts net 1545160 vs 2188933 revs 252 mln vs 195 mln year shr 153 dlrs vs 121 dlrs net 6635318 vs 5050044 revs 922 mln vs 774 mln note results include adjustment of 848600 dlrs or 20 cts shr for 1986 year and both 1985 periods from improvement in results of its universal life business than first estimated
the airlines argued that westerns promise could not be enforced in a takeover by a larger company
the additional guarantees increase the cumulative fiscal year 1987 program for sales of us agricultural products to algeria to 4690 mln dlrs
yeutter said the harmonized system as the new schedule is called will change tariff categories and definitions to meet the present day needs of exporters and importers but they should pay about the same rates of duties
norwegian central bank reserves fall in january
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
the statement said joint working groups for each accord had a three month deadline to come up with contract proposals
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
odetics inc oa ob 4th qtr march 31 net
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
manufacturers hanover corp mhc sets dividend
brazil seamen continue strike despite court
volcker says restrictive monetary policy would hurt investment
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
the plan was aimed at reducing debt levels and interest expense strengthening the chemical companys finances and increasing its operating flexibility
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
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
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
m 3 is deposits of the private sector held by trading and savings banks plus holdings of notes and coins
the payment date is march 25 while the issue will be listed in luxembourg
these firms with combined revenues of about one mln dlrs are providers of speech pathology physical therapy and occupational therapy services
eksportfinans launches eurobond
sun co said it raised the contract price it will pay for crude oil 50 cts a barrel effective today
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
feds johnson warns us banks against excess rigidity in ldc debt talks
louvre reaffirmation not enough uk analysts
several analysts said the purchase would not have given fujitsu access to critical defence technology
about 2800 members of local 222 are affected by the shutdown
such a move does not necessarily free icahn of twa they said
gencorp said agreement to sell rko pictures terminated
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
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
the companys implied senior debt rating is bb
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
thomson mckinnon us government fund dividend
igene biotechnology igne finds crop loss aid
standard trustco previously reported assets of 128 billion dlrs in 1986 up from 110 billion dlrs in 1985
the finance office added that 171 mln dlrs of the 1990 issue 1465 mln dlrs of the 1992 issue and 495 mln dlrs of the 1997 issue will be reserved for the federal reserve system and their own or customer accounts
indonesian commodity exchange may expand
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 statistics office said light heating oil producer prices fell 22 pct in february from january while heavy heating oil prices fell 24 pct
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
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
neco npt postpones annual meeting
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
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
tofutti brands tof sees profit for new year
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
news of a weaker than expected march employment report and a minor bounce back in the dollar prompted short covering that pushed coupon issues higher while an easing in the federal funds rate below six pct helped short dated issues
berliner bank suffers losses on stuttgart loans
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
the issue was increased from an initial offering of 35 mln dlrs
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
accordingly 250 mln dlr obligation to banks under credit agreement was recorded as a long term liability as of end of 1st qtr
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
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
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
the ec is worried
rp scherer corp said it is offering 16 mln shares of 5 3 4 pct convertible exchangeable preferred stock at 25 dlrs a share
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
in either case delegates said it is accepted that producers must be given a clear opportunity to make offers of cocoa for forward shipment directly to the buffer stock in a way that is competitive with spot offers made by dealers
there are about 15 mln messidor units issued to the public consisting of one share of common stock four class a common stock warrants four class b common stock warrants and four class c common stock warrants
the 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
there are currently 215 mln american express shares outstanding
a hormel and co hrl 
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
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
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
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
speaking to reporters after talks with president suharto he said he expected jakarta to do more to liberalise the economy and deregulate trade policy
pentland said it will use proceeds to fund growth and possible acquisitions
they wont get a 100 pct of the synergies analysts said the acquisition could cost emery earnings in the short term but long term after eliminating redundancies and selling other purolator assets it should boost emerys profitability
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
however terms were not disclosed
dynalectron dyn buys aviation facility
sale date and announcement of rates is set for tuesday march 17 1987
harvesting stretches from december 1986 to april 1987 japans final output will be announced at the beginning of june they said
baker hughes said the total of 758 working rigs in the united states included 84 rigs working in offshore waters
the one bancorp tone 1st qtr net
but he added it did not imply the country would begin heavy selling of coffee
hoechst celanese was formed feb 27 by the merger of celanese corp and american hoechst corp
mickelberry mbc completes sale of unit
swiss national bank says bought dollars against yen
clearing and delivery is through the facilities of the dutch central bank
china has signed 36 oil contracts and agreements with 37 companies from 10 countries since 1979 when offshore exploration was open to foreigners
he said he believed hutton which is occassionally surrounded by rumors moved up today as a result of the newspaper article
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 first was for 310 mln dlrs
it took into account reviews of both public and non public information
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
many prefer swiss francs or eurodollars
employers groups also want change
frances caecl issues three billion franc bond
current commerce is based on a rate set in the 1960s of 038 egyptian pounds to the dollar which moscow sees as unreasonable
ussr wheat imports are forecast at 1500 mln tonnes in 1986 87 vs 1500 mln tonnes last month
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
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
gte said proceeds will be used to reduce short term debt and to partially fund repurchases of common stock
horner said more forceful central bank intervention will firm the dollar and cap the rise in currency futures
in a newspaper advertisement the company said the offer withdrawal rights and proration deadline all expire june 30 unless extended
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
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
emery air eaf to bid for purolator pcc 
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
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
average lives are 236 to 2328 years
in order to reverse the decline in coffee production the government has decided to plant 20000 hectares with high yielding arabica and canephora varieties the sources said
new production forecasts were made for all these crops
little prince productions ltd ltlp 1st qtr loss
shr seven cts vs two cts net 5500000 vs 4300000 revs 691 mln vs 1153 mln note shr after preferred divs
this years aim of reducing the deficit to 49 pct of gdp from 51 pct in 1986 could still be achieved he said
the other business are two companies involved in the wholesale distribution of groceries and health and beauty aids it said
the letter said villagers in most seriously affected districts had been deprived of any means of subsistence because subsidiary crops had also failed
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
paperboard plans bid to acquire belkin
shr 21 cts vs 11 cts net 638000 vs 340000 sales 169 mln vs 147 mln avg shrs 3007048 vs 3006250 1st half shr 41 cts vs 41 cts net 1224000 vs 1142000 sales 311 mln vs 298 mln avg shrs 3006704 vs 2757631 note current year net both periods includes nonrecurring gain 213000 dlrs
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
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
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
healthsouth rehabilitation corp hsrc 4th qtr
there was little domestic and foreign pressure for lower rates and no signs of a change
murray said that with the results from 1986 were paying back 38 billion dlrs in the past two years or the equivalent of 66 pct of the debt incurred in 1984 when we bought superior oil mobil said that it has about 183 mln dlrs of long term debt which is due in 1987 although this will rise appreciably to 12 billion dlrs of long term debt due in 1988
even interest rates are not in the centre of the bundesbanks considerations but reflect competition and other market conditions mueller said
some yugoslav agriculture officials are concerned about the situation because warm temperatures have brought the grain out of dormancy and taken away snow protection a little early the report said
analysts generally average the sales results of march and april to account for the variation of easters occurrence
niskanen also said the canadian government is vulnerable to a resurgence of economic nationalism which could restrict us exports to canada
opening stocks in west malaysia at the start of this year were put at only 565000 tonnes compared with 914000 in january 1986 oil world said
the securities will be listed on the luxembourg stock exchange
french state computer group cie des machines bull bulppa will issue 800 mln french francs worth of stock option bonds the finance ministry said
japan details plan to stave off trade problems
the short term capital account surplus was 87 mln dlrs against 46 mln and 158 mln
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
prudential records best results in six years
it said the offer is dependent on filings with the securities and exchange commission
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
canada egypt wheat negotiations to continue
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
etl chairman allan hawkins said in the statement that the shareholding in monier was a long term investment
circuit systems csyi buys board maker
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
may added that the indiana national bank of indianapolis provided a portion of the deals financing
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
in 1986 chemlawn earned 119 dlrs per share for the full year and 258 dlrs in the fourth quarter
shr 18 cts vs 13 cts net 5436000 vs 3888000 sales 439 mln vs 315 mln avg shrs 30145000 vs 28976000 nine mths shr 51 cts vs 38 cts net 15320000 vs 11098000 sales 1236 mln vs 912 mln avg shrs 30157000 vs 29046000 note earnings adjusted for three for two stock split paid june 20 1986
spot oil prices surged on friday in late us trading as the market anticipated an opec agreement on second half 1987 output
standard and poors reduced allied bancshares senior debt to bbb minus from bbb and commercial paper to a 3 from a 2
qtly div 2 1 2 cts vs 2 1 2 cts prior pay may one record april one
it said the plant employs 300 people
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
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
richard gephardt to mandate a reduction in trade surpluses with the us by countries such as japan south korea and taiwan
belgium launches bonds with gold warrants
together with other one off charges alusuisse took an gross extraordinary charge in 1986 of 698 mln francs up from 472 mln in 1985
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
many traders took on long pound short west german mark futures positions although some of those cross trades were liquidated yesterday sloane said
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
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
louisiana land said the conoco group intends to provide a formal acceptance of the blocks with plans to start exploration this year
analysts said british petroleum might have been able to buy up the rest of standard oil for about 50 dlrs per share when oil prices were falling last year
unilever plc adjusts dividend
treasurys baker says trade current account imbalances simply not sustainable
banking sources said the cost of liquidity through repurchase accords will not differ much from that on dollar swaps
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
jp morgan jpm net hurt by brazil trading
imo delaval imd sets initial dividend
caesars worlds boasrd has urged rejection of the offer on the grounds that it is inadequate and has said it would investigate alternative transactions
it said the portfolio consists mostly of charged off loans
bp units seek five billion dlr revolving credit
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
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
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
new york business loans drop 572 mln dlrs
first city bancorp of texas inc which is soliciting bidders reiterated that it is premature to speculate on what course of action it will pursue following a story in todays wall street journal that it has attracted at least three potential acquirers
spot next was indicated at 8 1 2 seven after opening bids of 10
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 annual report for the most recent year has not been filed
miyazawa says major nations have intervened aggressively since dlr fell below 150 yen
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
each right will entitle the shareholder to buy one newly issued share of alberstons common stock for 15000 dlrs
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
the loans were cancelled because the projects slated for aid were not implemented properly they said
funaro told reporters his trip which has already taken him to london paris and bonn was aimed at explaining his countrys stance to governments
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
executives of first boston inc harcourts financial adviser did not return a telephone call seeking comment
pacific gas pcg accounting change to cut net
comerica inc cmcao 1st qtr net
european community to set up office in peking
washington was stunned by the sudden wall street retreat with president reagan speaking for most people by admitting that he was puzzled us government sources said the secretary immediately returned to the treasury to be briefed on market developments and presumably their political impact
since most of our products are commodity based i cannot see how this would work out in our case lim said
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
new york business loans fall 195 mln dlrs
the 12 month period also included refund of prior years real estate tadxes of 136964
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 country has temporarily suspended beef exports to the ec because of the outbreak and awaits a decision from the ec veterinary committee which is considering a formal ban
the vessel was on a voyage from trombetas brazil to matanzas cuba carrying 50000 tonnes of bauxite
in the longer run he worries about what trade tensions and the dollars slide will mean for securities markets
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
call money fell to 360 70 pct ahead of the allocation from 375 85 pct yesterday dealers 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
however bankers did not anticipate any accounting problems for this novel interest payment method
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
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
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
burlington coat factory warehouse corp bcf net
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
the officials most of them economists can offer no objective reason why they are not
it consists of operations in sweden australia brazil france great britain spain and appleton wis
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
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
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
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
bank of england forecasts surplus in money market
south africa banks work out debt plan standstill extended to 1990 bankers
the auditors also qualified the companys 1985 report for the same reason noting the sharp drop in oil and gas prices in early 1986
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
vaskevitch was suspended by merrill which said it was cooperating with the probe
world bank loan raised to 450 mln guilders
it accepted 66 billion dlrs of bids including 22 billion dlrs from the federal reserve and 91 mln dlrs from foreign and international monetary authorities
uk money market deficit removed
it added that the proposal has been referred to its board of directors for consideration
australian markets are booming as foreign fund managers redirect capital away from the united states and other traditional markets analysts said
high point is trading at 22 dlrs a share in the over the counter market according to ryan beck
a borg warner spokesperson said the discussions with jacobs and other minstar officials focused on terms and conditions under which the company would consider granting minstar access to the information it was seeking
ecuadors consumer price inflation was 23 pct in 1986
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
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
treasury secretary james baker said he expected the us trade deficit to fall by 15 billion to 20 billion dlrs in 1987
we were forced to pay a temporary price in the form of slower earnings growth and a lower rating by the investment community
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
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
then 658000 new 65 franc investment certificates will be issued at 400 francs raising capital to 703 mln francs
the central bank is checking selling orders through banks and placing matching buy orders they said
last years imports were 253 billion dlrs against 181 billion dlrs in 1985
last month purolator agreed to be acquired by a company formed by ef hutton lbo inc and certain managers of purolators us courier business
on grain he said the state will cut the quota it purchases from farmers by 50 mln tonnes and abolish the practice of purchasing through agents
qtly div 14 cts vs 14 cts prior payable march 31 record march 16
officials at fuji bank ltd and mitsubishi bank ltd outlined similar three year plans
bpi president and chief executive officer david r
the effect of these sacrifices meant that market stability though restored to a good level was still under pressure al wattari said
lynch said it will pursue further acquisitions of media and entertainment entities with emphasis on broadcasting and cable television operations
the government has said the land reform plan aims to distribute 97 mln hectares of land to impoverished peasants
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
previously pakistan has met its trade gap largely from remittances from its nationals working abroad mainly in the gulf
he said the producer return per barrel at a price of 30 australian dlrs a barrel would rise to 207 dlrs from 080 dlrs if the levy was cut to 70 pct
it said home savings had assets of 1506 mln dlrs in assets and interwest had assets of 3429 mln dlrs
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
the company set up the two classes of common stock in february
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
buffton said the company designs and manufactures aviation computer display systems and engine instrumentation
hillsdown shares were unchanged at 266p
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
other major buyers were the us at 86383 tonnes up from 81629 in 1985 china 69952 60296 and west germany 32172 25909 exports to france rose to 20479 tonnes from 12143 in 1985 austria 6048 4104 and italy 4014 tonnes 1340
burlington lawyers also contended that burlington as the largest manufacturer of denim in the united states would be in violation of anti trust laws if it acquired dominion canadas largest textile maker
the funds will be partly used to repay a 45 mln franc bond maturing on april 15
south korean wholesale prices up 02 pct in march
on friday washington announced plans to put as much as 300 mln dlrs in tariffs on imports of certain japanese electronic goods in retaliation for what it sees as tokyos failure to live up to their bilateral chip pact
this is western financial auto loans third such issue
contracts for saudi crude have been signed but it is understood they have much leeway in required liftings
the estimated average price increase anticipated by members for the remainder of 1987 is 21 pct
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
dinkov said the soviet union would develop 38 new oil deposits in the coming year
it will not give any short term relief for debt ridden countries but it will make a difference in 10 to 15 years
mild coffee growers to meet in guatemala
rep
yao said the rising taiwan dollar means taiwans steel exports are more expensive than south koreas and chinas
in addition debate on the proposal could open up the whole farm bill dole said
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
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
it said corn producers will receive about 515 mln dlrs and sorghum producers about 85 mln dlrs
systematics inc syst 3rd qtr feb 28 net
allegheny said the class action suit alleges the price to be paid in the transaction is grossly unfair
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
market discounts higher soviet grain imports
sigma mines details gold ore reserves
world ending stocks of oilseeds are estimated to increase for the fourth straight year to a record 284 mln tonnes compared with 254 mln last year
because of this discord and the markets momentum for a lower dollar analysts said intervention looks doomed to fail
in addition sales comparisons were boosted by an especially soft february last year which was adversely affected by severe weather
taiwan announces new round of import tariff cuts
fecsa faces repayments of 60 billion pesetas in interest and 30 billion pesetas in principal this year
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
it said former shareholders of biopool ab own the remaining 40 pct in cytrx biopool ltd
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
without them sustained strength is in question keefe said
economists say capital flows are more sensitive to interest and exchange rates
watts industries inc wattao 1st qtr sept 27
research and development expenses most of which was applied to diagnostic and pharmaceutical products increased by 23 pct to 78 mln dlrs it said
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
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
this need in itself is some sort of guarantee that we will soon have to come up with an extension agreement eleven major contract areas are due to come up for renewal between 1991 and 2001 industry sources said
other economists said the 08 pct growth registered in oct dec may have been inflated by special factors including exceptionally heavy spending in the public sector
today only about 40 pct of customer funds are held on current account
the basin pipeline a major pipeline running 300000 bpd run by a consortium of other oil companies was closed today
genetics genio sees higher 87 losses
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
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
late yesterday continental materials board said it decided not to give further consideration to a business combination proposed by the group of st
macdonald told reporters the group planned to expand through acquisition and internal growth
soybean oil supply demand by country usda
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
bat industries plc btil 1986 year
american stores co 4th qtr shr 157 dlrs vs 160 dlrs
administration officials in and out of the us agriculture department have been extremely tight lipped about the prospects of a subsidy offer
there also will be a utilization fee of five basis points if the underwriting banks are called upon to provide more than 30 pct of the facility
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
the wild card is the increased tensions in the persian gulf said frank knuettel analyst with prudential bache securites
the company formerly known as general tire and rubber co also has a tire business rose estimated would be worth five to 10 dlrs per share
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
australias terms of trade also fell by 18 pct over the past two years he told parliament
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
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
the company added that no optional redemption may be made prior to april 1 1994 with or in anticipation of borrowed funds or senior or parity stock having an effective cost of less than 688 pct per annum
the conditions that were eliminated are cyacqs request for non public information about cyclops that was previously provided to dixons group plc and cyacqs being satisified that the information provides an adequate basis for cyclops published financial projections
the legislation faces another hurdle in the full ways and means committee next week before the full house votes on it
shr two cts vs seven cts net 164000 vs 417000 revs 1345000 vs 2021000
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
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
in targeting an oil rig albeit one said by the pentagon to have been turned into a military command post washington also sent a message that it might be willing to attack irans economic lifeline
but 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
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
zenith said it will not market the drug until questions relating to the applicability of certain patents have been resolved
but they said there was little chance japan could react quickly enough to avert the higher tariffs
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
australian foreign ship ban ends but nsw ports hit
but they are not cut in stone they can change with time skeoch said
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
dutch state loan raises 325 billion guilders
federal reserve board chairman paul volcker said the suspension by brazil of its foreign debt payments would not undermine us banks
crosby owns 340783 of the 752297 class b shares
ida said the credit supports a 7 year program to plan implement and monitor improved operation of selected projects
new certificates will be needed it added
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
cms advertising sets 3 for 2 stock split
the 174 mln tonne figure was revised from 176 mln tonnes
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
baker stoltenberg and poehl had agreed to pursue the policies agreed under the louvre pact with reference to currency stability and monetary policy
the company will also sell its fluids handling operations which makes pumps and valves
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
lennox told the annual meeting that future quarterly and full year earnings from ongoing operations should be significantly above 1986 results in his remarks lennox said management has no plans to recommend reinstatement of the companys common stock dividend in the foreseeable future
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
this will distinctly make the index more useful said frank korth of shearson lehman brothers inc
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 company declined to discuss the reason for the change in accounts nor would it dislose its advertising expenditures for the brand
the cpi for urban wage earners and clerical workers cpi w rose to 3290 in february the department said
greyhound said it will relocate the production facilities currently in pontiac michigan to an undetermined location
the presidential office and ariadne representatives in manila were not available for comment on the report
leading industrial nations to meet in april
investment firms cut cyclops cyl stake
i would be very surprised if there is not a very early further fall in interest rates lawson said in a radio interview
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
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
i think it kind of muddies an already muddy situation said baker of the offer
the offer expires april 9 unless extended
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
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
benetton spa of italy expects to further diversify into financial services and is weighing possible acquisitions a benetton spokeswoman here said
margaux controls inc margx 3rd qtr dec 28 loss
the problem is nigeria has so far neglected us japanese creditors and we have yet to receive a clear cut picture of the nations debt situation said another japanese bank official
the quake ruptured ecuadors main oil pipeline suspending crude exports for five months until the line is repaired
exxon corp said in its annual report that it raised production in 1986 although it did not replace all oil and gas produced
cross and trecker said it agreed to acquire the alliance automation systems division of gleason corp gle for an undisclosed amount of cash
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
but again a lack of hard currencies limited heinekens market potential
allisons place alls sales increase in february
paul resch economic attache for the west german embassy told that germany had become the biggest european community lender to bolivia
the 30 pct tariff increase introduced in january will only bring in an extra 600 mln bolivars per year against additional debt costs of 900 mln
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
microsize inc msiz 2nd qtr ends feb 28 net
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
but the contracts call for the lower takes to be made up during the course of the year mitchell energy said
the deal awaits approval by the spanish government
local m1 rose 123 pct to 5797 billion dlrs after a 62 pct rise
indonesian banks raise interest rates
formal documents will be sent to shareholders as soon as possible it said in a brief statement
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
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
asian cocoa producers expand despite critics
peerless said due to the sale it will probably have a loss for the year
the non callable bond is available in denominations of 5000 dlrs and will be listed in luxembourg
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
japanese crushers buy canadian rapeseed
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
the strategy has drawn a serious challenge from brazil which suspended interest payments on 67 billion dlrs of commercial bank debt last month
terms of the sale were not disclosed
the mine has produced about 60000 ounces of gold a year since 1981 using another leaching process a bp spokesman 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
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
mead mea expects improved earnings this year
lending further support to the stable policy view was a relatively steady federal funds rate of about six pct in the latest week and persistently high levels of excess reserves in the banking system economists said
another japanese trading house has paid the official price but through a processing arrangement will effectively receive a discount the sources said
the treasurys operating cash balance totaled 12670 billion dlrs on march 10 compared with 14490 billion dlrs on march 9
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
usda comments on export sales report 
its clear icahn wants to sell and hes bluffing said one arbitrager
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
midlantic corp midl 1st qtr net
group raises computer memories cmin stake
new line cinema corp nln 4th qtr net
the legended shares are not tradeable for one year
i think the strategy might have called for making his investment more attractive
but poehl said west germany now faced a difficult dilemma over monetary policy
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
united jersey banks said it plans to merge two of its southern new jersey member banks into one 704 mln dlr organization
we have hopes for greater stability but we do not see prices going much higher he added
the report said falling oil prices and the depreciation of the dollar during 1986 had favoured oil importing countries such as italy
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
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
the talks have been going on for more than three weeks
under review are ecolabs a 3 convertible subordinated debentures and the convertible eurodebt of its unit el international ltd
but an 89 pct rise in television costs outweighed a 40 pct rise in revenue it said
under the original proposal which sparked strikes and other industrial action in the state on april 7 workers compensation would have been cut by one third
gov
wcas told comdata it believes that it can get commitments for this financing
renouf corp to proceed with benequity bh bid
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
it said the date of the special meeting has not yet been determined
thereafter government payments should be issued in roughly a 50 50 split between cash and certificates brunthaver said
richard ferris chairman of allegis said in a statement the hotel limited partnerships allow the company to convert unrecognized asset appreciation into cash
continental materials said the offer had been received from continental associates a group of st
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
australian gdp rises 11 pct in fourth quarter
but many investors have still shied away from the debt remembering the mid 1986 downturn of the australian and new zealand dollars analysts noted
jordan expects real gnp growth to be about one percentage point higher than in the past two years
the cbis monthly trends survey for march shows that 43 pct of the 1685 polled uk firms expect to raise output in the next four months
the health club chain the nations largest is valued at 350 to 375 mln dlrs they said
ford f developing aluminum car frame
eia says distillates off 76 mln bbls gasoline off 34 mln crude off 44 mln
such a rule would make investors more confident of trading in the eurobond market and would increase liquidity they 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
given their concerns over half those surveyed said they spend more time managing their portfolios
energy development partners is a limited partnership which began operating in september 1985
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
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
qtrly div five cts vs five cts qtr pay april one record march 16
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
traders here and in paris said the results of todays ec white sugar tender are hard to forecast because of plans by a group of french west german dutch and belgian operators to sell one mln tonnes of sugar into intervention
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
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
he said the company had an ample cashflow of 100 mln guilders and would if necessary make new share issues
out of this traders in france received 34500 tonnes in the uk 37800 in west germany 20000 in belgium 18500 in spain 5800 and in denmark 1750 tonnes
capital bancorp capb sees gain on unit sale
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
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
eastman kodak co said it will reduce capacity and employment levels in two polyester fiber operations of its eastman chemicals division
subscriptions close on thursday april 16 at 1500 hrs local time
us treasury secretary james baker sparked the market fears when he attacked the rise in west german short term interest rates
he said to the best of his knowledge a change in the rhode island law would not be a hardship for any other banking institution in the state
schlueter made clear that an autumn general election would not make the government postpone any austerity measures
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 reserve bank said it would offer for tender 200 mln dlrs of 13 week treasury notes next week
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
or if it was worth doing we had to go it alone lichtenberger explained
1987 results include production graphics corp and systems technology and weapons system test divisions of new technology inc acquired december 30 1986
other restrictions still apply it said
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
franklin michigan insured sets lower payout
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
the group had said previously that its frost and sullivan share purchases were for investment
us economy slowdown raises recession fears
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
sudan took 19327 tonnes and west coast africa 4130
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
the bank also said it plans to expand into other major western banking markets and is considering an acquisition in colorado
gasoline prices were nonetheless 180 pct below their levels as of february 1986
franklin insured tax free sets payout
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
the lipc is allowed to import most beef with the amount set by the government under a quota system
ferro corp foe sets joint venture
thermo electron tmo sells convertible debt
terms were not disclosed
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
each 1000 mark bond carries two warrants which can be converted into 500 dlrs each at an exchange rate of 186 marks
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
the province produces 23 pct of cubas beef and is the islands number two province in milk production
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
the agreement is subject to approval by the new jersey casino control commission
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
in a newspaper advertisement the company said the offer which has been approved by the bpi board and is to be followed by a merger at the same price is conditioned on receipt of at least 1813742 shares
douglas said in a budget statement the surplus is the first achieved in new zealand in 35 years
fleet financial group 1st qtr shr 73 cts vs 60 cts
excluding autos retail sales in february were up 15 pct after falling by a revised 04 pct in january
officials seen arriving by correspondents included west german finance minister gerhard stoltenberg and bundesbank president karl otto poehl french finance minister edouard balladur and his central banker jacques de larosiere
they said these included the us agency for international development the world bank and its soft loan affiliate the international development agency
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
depreciation of fixed assets 935 mln marks vs 847 mln
the company attributed the expected loss to lower than expected sales from its laboratory and consulting business and planned major investment in its proprietary treatment technology
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
the spokesman noted the final dividend decision rests with the supervisory board
drexel burnham lambert inc caesars financial advisor has told the company it is confident it can arrange the entire financing needed for the recapitalization
yugoslavia wheat free of winterkill usda
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
there will be no spring downturn said randol speaking at the annual refiner meeting
this product could very well be toughening our trade policy and doing it in a manner that opens markets without this frightening word protectionism ways and means chairman dan rostenkowski an illinois democrat said
the official 1987 88 estimate is 29 pct
time tl begins debt tender files shelf
many banks in the paribas facility although sympathetic to ecuadors plight feel that emergency financial relief is a job for international financial organisations and not for commercial banks bankers said
ecuador has suspended crude exports for about five months until it repairs a pipeline ruputured by a march five tremor
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
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
lawyers representing ward have said he saw the funds as his reward for services performed during the takeover of distillers
shr loss 27 cts vs loss 81 cts net loss 998764 vs loss 1491590 revs 2712614 vs 1237850 avg shrs 3727063 vs 1838294 year shr loss 179 dlr vs loss 211 dlrs net loss 4559004 vs loss 3882235 revs 8510004 vs 3720640 avg shrs 2544271 vs 1838294
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
central banks have easily beaten back the foreign exchange markets first test of the industrialized nations recent pact to stabilize currencies analysts said
first federal savings bank of montana ffsm div
also the company said it and its units granted the group a security interest in their assets
general electric ge to sell datel unit
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
the former requirement called for three lead managed issues
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
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
the companys position is we would like to see the merger be completed which is in the best interests of our shareholders and their shareholders mattson said
gold ecu coins with a face value of 50 ecus will be sold from the same day
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
swedens boliden ab takes over mining gear units of allis chalmers corp for 600 mln crowns
kms industries inc kmsi year net
indonesias palm oil output is expected to rise and exports to increase the us embassy said in its annual report on indonesias agriculture sector
takeover speculation has surrounded santa fe since henley disclosed its stake in the company earlier this week but analysts and a santa fe official were skeptical a takeover is its intention
it 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 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
cocoa exporters expected to limit sales
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 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
most of the growth occurred in manufacturing and construction
britain to mint new britannia gold coin
icco council chairman and ivorian agriculture minister denis bra kanon said the new rules have a good chance of stabilizing prices
sandoz has 50 mln dlr euro cp program
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
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
ec ministers agree need for big steel closures
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
approximately 505 mln dlrs of debt is affected
it added that turkish producers would join in when the two firms meet again in madrid later this month
schlick said flooding destroyed a number of levees along the two rivers last october leaving farmland there vulnerable to further damage this year
yesterday borg warner said it agreed to be acquired for 423 billion dlrs by a company to be formed by merrill lynch capital partners
contents of the report were leaded well ahead of issuance
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
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
norcros rejects 5422 mln stg bid from williams
energy us petrochemical industry
ralph klopfenstein usda deputy administrator for commodity operations told we do not anticipate any changes to be made in the texas gulf differentials used to calculate posted county prices for corn
canada mulling selling petro canada mulroney
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
spokesmen for some japanese electronics firms said they would consider buying more us chips
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
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
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
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
in many ways the official response was mild
uk money market receives 37 mln stg assistance
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
corrected gaf corp offers 46 dlrs a share cash for borg warner correcting amount
laroche starts bid for neco npt shares
saudi riyal interest rates rose as bahrain based banks scrambled to cover short positions dealers said
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
inflation for the 12 month period ending march 1987 was 674 pct compared to 1208 pct for the 12 month period ending march 1986
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
an american farm bureau federation afbf official said that far from hurting canadian corn producers us farm programs benefit all foreign producers
raul gardini president of the ferruzzi group said the present management of the cpc milling business will be asked to remain in their posts
last year the soviet union produced 615 mln tonnes of oil slightly short of the target of 6167 mln
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
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
philippines applauds defeat of us labelling bill
the company said the charges relate to its telecommunications products area and three other areas
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
it said it will promote a vigorous exploration program in the areas for the rest of 1987 and in the future
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
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
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
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
singapore petroleum co pte ltd said it will raise posted prices for its products from june 19 by one cent gallon for lpg naphtha and gasoline two cents for gas oil and by 60 cents barrel for marine diesel oil
huntington bancshares inc hbano 3rd qtr net
imre imre sells stock to european institutions
heritage communications hci in special meeting
these were also underwritten by lloyds and other companies
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
bundesbank vice president helmut schlesinger will chair the meeting as president karl otto poehl has a private engagement
genovese drug stores inc spec sets quarterly
the us treasury repeated a white house statement that only president reagan and treasury secretary james baker are authorized to speak on the dollar
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
figures do not tally exactly because of rounding
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
haiti announces find of ore rich gold field
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
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
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 state government recently introduced a new workers compensation act which would cut the cash benefits to injured workers by up to a third
the june trade figures due in late july will also be delayed he added
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
uk earnings up underlying 775 pct in april
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
the outbreak in the countrys main ranching province has already led neighbouring beef producing botswana and zambia to bar beef and dairy imports from zimbabwe threatening the dairy industry with a loss of at least one mln dlrs in export revenue
the committee represents the countrys 400 or so private foreign bank creditors
the company said it locked out union workers because they threatened to disrupt operations
funaro said brazil had paid 44 billion dollars to the world bank and other lending agencies and commercial banks in the past four years and got only 11 billion dlrs in loans
the united states appears to have won a transatlantic battle by forcing the bundesbank to trim interest rates european economists said
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
but now the surplus is growing faster than we expected he said
the rate was 98 pct in february last year
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
however ecuador might build an emergency 25 km pipeline costing 15 to 20 mln dlrs to hook up with a colombian pipeline the first official said
senate panel studies loan rate set aside plans
the us economy in march improved at a faster rate than in february with the national association of purchasing managements composite index rising to 539 pct from 519 pct the napm said
paper will be issued in minimum denominations of 500000 dlrs with maturities of up to 365 days
residual amount included in rice and medium short grain rice domestic usage
iadb chief says without sustained latin growth there will eventually be a default
1987 qtr and nine mths exclude gain of 22 mln dlrs realized primarily from early settlement of debt in connection with the recapitalization and a three mln dlr loss on investment securities
toll brothers inc tol 1st qtr jan 31 net
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
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
cargill strike talks continuing today
it is the first us municipality to arrange these types of facilities in the international capital markets
monetary policy must be first and foremost stability policy and successful stability policy is money supply policy nothing else he said
the shares last traded at 1930 dlrs
gencorp inc said it filed suit against the unsolicited 100 dlr a share tender offer of wagner and brown and afg industries
bank of japan governor satoshi sumita said he would support the issuance of reagan bonds yen denominated us government securities if it was considered appropriate a japanese daily paper reported
seixas director of the brazilian central banks foreign debt department met the full panel on tuesday and wednesday
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
portuguese unemployment steady in first quarter
the meeting with kato opened a 12 day visit to japan by lyng who is here to dicuss farm trade
we need a truly free trade agreement which means both countries have to work toward a deal that is mutually beneficial and comprehensive a large agreement the texas democrat said in a statement
the acquisition would be a cash merger with progressive shareholders receiving up to three dlrs per share the company said
contel ctc to buy walker county telephone
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
ccc accepts bonus bid on wheat flour to iraq
the government itself has said it expects growth of just under two pct compared with a 24 pct expansion in 1986
jones and vining makes shoe lasts and shoe components
japan has no plans for new measures to aid dlr
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
uk intervention bd says ec sets white sugar tender rebate 43248 ecus
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
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
a government study has concluded the us will be dependent on oil from the middle east into the next century and must take steps to reduce its vulnerability the new york times said
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
bellsouth bsc unit offers new telephone system
it allows a refund of import duties paid on raw sugar imported from november 1 1977 to march 31 1985 for production of sugar or products containing sugar and destined for re export
the japan development bank is issuing a 150 mln dlr eurobond due may 20 1994 paying eight pct and priced at 101 1 8 pct lead manager bank of tokyo international ltd said
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
purolator a new jersey based overnight courier has declined comment
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
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
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
revlon group rev reports 1986 results
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
the merger still requires shareholder approval
the rise follows a year on year increase in december 1986 of 45 pct
until last week there were few indications the package would be ready anytime soon
opec says february output under ceiling
the ministry said in a communique that the returns included banking group societe generale sgenpa which began its two week public flotation last monday
the company said it was the first complete update in 25 years
the report dated april 2 said chinese imports this year are projected at 300000 tonnes unchanged from last years level
but we have indicated to the indians that we stand ready to assist in whatever way they deem most valuable he said
us house panel extends eep urges ussr offer
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
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
the official china economic news quoted the figures as showing tea exports rose 97 pct to 8474 tonnes during the month
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
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
hospital staffing services inc hssi 1st qtr
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
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
bad debt writeoffs for year up one mln dlrs pretax from the year before
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
it was greeted with relief after 18 months of negotiations
northgate ngx quebec ore reserves decline
by the turn of the century world oil prices will be significantly higher because of declining supplies mcmillan said
excluding defense orders rose 38 pct compared with a revised january decline of 77 pct
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
on wednesday president reagan announced that he will seek 25 billion dlrs from congress to address the acid rain problem
the independent directors of viacom were called into a meeting today
campbell red lake mines ltd crk 4th qtr net
the analyst also doubted that bank of new york could afford to retain its original offer
oper shr profit 152 dlrs vs loss 55 cts oper profit 4172188 vs loss 1502032 revs not given note 1986 shr and net exclude extraordinary gain of 1294245 dlrs or 47 cts share on sale of stafford foods unit
japan business leaders say g 7 accord is worrying
there comes a point where you cannot resist any longer he said adding such barriers cant be put in place overnight clark said the issue of reciprocity regarding visible trade strikes at the basis of whether british industry is to have a fair access to an extremely large market japan which is itself in a very dominant position in certain aspects of our own domestic market it is really a question of fairness the situation is only likely to worsen following news that japans trade surplus with the rest of the world rose by more than 70 pct in february year on year to 814 billion dlrs from 57 billion in january political sources said
romero said another threat to exports lay in an ec warning that copra meal cake used in livestock feeds contained dangerous levels of aflatoxin a carcinogenic chemical
it said the redemption price will be 109522 dlrs including accrued interest for each 1000 dlrs of the notes
inflation still a concern volcker says
the annual report was released as the banks annual meeting is being held in miami
immediate benefits of certificates include greater market liquidity improved market price competitiveness higher farm income and improved debt situation and decreased carrying costs he said
qtly cash distribution 20 cts vs 20 cts prior pay april eight record march 27
amoco corp an rose 1 3 8 to 83 3 4
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
economic spotlight us deficit with nics
as you know theres been 85 billion dlrs in new money said the official who plays a key role in keeping the plan afloat
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
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
continental can said it would supply nestles equivalent can requirements under a long term agreement
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
hudsons bay to sell wholesale unit
he believed some manufacturers were not investing because they feared the australian dollar would get stronger
its agreements with dixons are binding and dixons indicated it will not rescind or waive any provisions of the pacts cyclops said
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
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
dreyfus a bonds plus inc monthly payout
shr four cts vs 12 cts net 248000 vs 647000 revs 237 mln vs 219 mln
were hoping for no rate increases but we cant say for sure
lyng to meet with exporters eep likely topic
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
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
the central bank intervened as a medium sized trading house sold dollars putting pressure on the us currency they said
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
it said nippon will contribute an initial investment of more than 100 mln dlrs
the belgian national bank cut interest rates on one two and three month treasury certificates to 730 pct from 740 pct effective immediately the bank said in a telex message
ideas being considered included blocking japanese companies from trading in britain and revoking licenses of japanese operations in the london financial district
white house says japanese tarriffs likely
sgl officials could not be reached for comment
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
the bonds will be in denominations of 1000 and 5000 guilders
conagra inc said it completed the merger of its sea alaska products co unit and trident seafoods corp
but banking sources said that the margin over libor was still a sticking point
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
atlantic city electric ate debt lowered by s p
cattle slaughter is guesstimated at about 124000 to 128000 head versus 127000 week ago and 126000 a year ago
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
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
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
stanadyne inc said it terminated discussions about its proposed purchase of united technologies corps diesel systems utx unit
i think we are progressing very well he told reporters
shr 41 cts vs 38 cts net 5630000 vs 5152000 revs 971 mln vs 854 mln
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
the ambivalence is because any farm secondary market established in the private sector that excluded the farm credit system would put the system at a competitive disadvantage
the trust said it also reaffirmed a limited share repurchase program subject to available cash flow in light of the defaulted mortgage
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
samjens lawyers also pointed to a lawsuit filed by burlington in canada in which it said it was considering a bid for dominion
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
the upgrading followed a re review by consultant coles nikiforuk pennell associates in light of the large number of gas finds since may 1986 santos said in a statement
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
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
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
argentina has threatened to follow brazil in declaring a payments moratorium if the banks do not grant its request
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
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
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
m 1 grew to an estimated 503 billion dlrs against a revised 477 billion in november and 434 billion in december 1985
poehl is in a dilemma
periods ended december 31 shr loss 10 cts vs loss seven cts net loss 316289 vs loss 189140 revs 61762 vs 8934
the first two cargoes were on a cash basis and the may position was transacted on a 30 pct counter trade basis traders said
official first quarter figures are due in early june
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
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
the spokesman told sanchez is a 46 year old civil engineer who formerly headed cepes administration and finances division
about one third of the deficit is in trade with japan
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
1986 per share amounts caclulted from april 15 1986 to septebmer 30 the date of banks conversion to stock ownership
banking sources said commercial banks would not be involved in todays talks with funaro
the official industrial growth target this year is seven pct down from an actual 92 pct last year
memotec data completes teleglobe acquisition
the warrants indicated at 45 dlrs entitle the holder to buy a minimum of 500 dlrs at a rate of 179 marks per dlr
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
standard and poors corp said it raised to a minus from bbb plus hechinger cos 199 mln dlrs of industrial revenue bonds
primary metals rose to 677 pct from 667 pct in january
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
the company said its level of shipments is good despite a conservative buying pattern on the part of retailers industry wide
decision making is quite slow complicated and very centralised schulz told 
consumption of some base metals and their dlr prices are showing signs of improvement although iron ore markets have weakened
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
uk money market deficit forecast at 800 mln stg
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
ecolab inc ecl 3rd qtr oper shr
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
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
demand totalled 525 billion francs and the average yield was 913 pct
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
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
the budget has been delayed by opposition boycotts of parliament to protest government plans for a new sales tax
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
li attributed the surge in 1986 earnings to a buoyant local property market and substantial increases in contributions from associated companies
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 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
that would reflect the continuation of dismal industry conditions and the companys substantially weaker credit profile s and p explained
the stock market is the indication of the future gobert commented
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
macmillan bloedel ltd said shareholders approved the companys previously reported proposed three for one stock split
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
humana inc hum 2nd qtr feb 28 net
there will be a facility fee of three basis points while this is not utilised after which the fee rises to six basis points
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
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
brazil debt seen partner to hard sell tactics
bayer said that world group operating profit declined slightly in 1986 against 1985 but non operating results showed a further improvement
bp will make the final decision on the allotments broadly based on relationships rather than on the amounts offered
but in response to questions oakley acknowledged that trade will be discussed
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
ferruzzi negotiating european acquisition
he urged american manufacturers to become more competitive so they can compete in global markets
the cost of certificates said the gao source depends on the programs impact on the usda loan program
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
he said the decision did not affect payment of interest on loans and debentures
we welcome the flexibility evident in the reserve banks move to raise the system cash target yesterday but feel that to reduce the present nervousness the cash target and primary liquidity level need to be raised further he said
morgan grenfell has used special purpose vehicles in the past to help refinance export credits for other indebted countries such as brazil and ecuador
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
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
such scrip issues if they occurred would mark the first time german banks had ever issued free shares
brazilian crude oil and liquefied natural gas production fell to an average 583747 barrels per day in february from 596740 in the same 1986 month the state oil company petrobras said
shr 212p vs 160p div 475p making 825p vs 583p pretax profit 505 mln stg vs 362 mln turnover 402 billion vs 388 billion tax 128 mln vs 85 mln operating profit 527 mln vs 421 mln operating profit includes other income 30 mln vs 41 mln financial costs 52 mln vs 100 mln minorities 25 mln vs 16 mln earnings 352 mln vs 261 mln extraordinary credit 78 mln vs 34 mln debit
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
bresser pereira said brazil faced the risk of economic recession but he estimated the gross national product would grow 45 pct this year
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
willcox and gibbs inc wg 4th qtr net
government officials have expressed concern that the sale could reduce the competitiveness of us chip makers by putting key advanced technology into japanese hands
for some other countries the communique said the debt cannot be properly serviced if the countries are to grow at the same time
the company said it will treat the merger as a pooling of interests
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
shr profit three cts vs loss 11 cts net profit 507000 vs loss 1823000 revs 112 mln vs 204000
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
the world bank would raise 90 pct of the funds needed over the next year with methods used before rotberg said
philips electrical ireland ltd has arranged the sale of the one mln ordinary shares it holds in its subsidiary unidare aluminium ltd unidare said
for 1986 the company reported profits of 78 mln dlrs or 116 dlrs a share on sales of 1539 mln dlrs
alcoa australia plans 100 mln aus dlr facility
it said proxy materials are expected to be maioled this quarter
the remainder will be added to general funds
retained earnings for prior years were increased by 209 mln
on the other hand net exports seem to be expanding by more than expected at budget time and this is underpinning growth in domestic production and employment keating said it now seems likely that the 1986 87 inflation rate will exceed the budget forecast of eight pct
the 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
two further pacts are likely this month over the next two weeks
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
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
revlon rev buys beechams comsmetics unit
morgan headed a syndicate that won the bonds in competitive bidding
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
it had operating profits of about 33 mln dlrs in 1986
it has also been approved by the commerce commission but bils bid is still subject to the commissions scrutiny
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
but democratic critics said the bill did not ask the administration to address tough policy questions in the report
us feb housing starts rose 26 pct to 1851 mln permits rose 44 pct to 1764 mln
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
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
export development corp issues euroyen bond
mark iv said it was later told by baird that baird had given no such assurance
contel officials declined to comment on the possibility of selling any operations
salant corp qslt 4th qtr nov 29 net
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
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
sudan is 450 to 500 mln dlrs in arrears to the international monetary fund imf which last year declared it ineligible for fresh loans
moodys noted that pharmaceuticals and other health care markets are characterized by a greater stability of cash flow
she said there was some resistance to further climbs
in taking a hard line against wholesale debt relief the banks have the clear backing of the reagan administration
nickles symms and others also have cited other loans such as a 1985 world bank loan to hungary to expand livestock exports and 500 mln dlrs lent to thailand from 1981 to 1985 at low interest rates for agriculture
photographic sciencies corp pscx 4th qtr loss
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
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
general electric chairman john welch jr reiterated the companys outlook for 1987 in which it expects double digit ge earnings growth for the year
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
merrill lynch mer investment revenues up
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
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
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
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
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
despite great potential developing economies are still confronted by grave difficulties particularly debt he added
ed jenkins d ga intends to push separately a bill to protect the domestic textile and shoe industry an aide said
bank of communications plans 200 mln hk dlr cd
last weeks yield was six pct although the programme had started at the end of last year with rates as low as 560 pct
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
usda is very sensitive about saying anything that could influence the market so the secretary was very non committal a participant said
about 80 pct of transamericans gas is available for spot market sales in texas during peak demand it said
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
nobody so far said may would be closed he told 
it said results would be hurt by a 25 mln dlr one time charge by caterpillar mitsubishi a 50 pct owned affiliate
he also said an 180 metre section of the pipeline attached to the bridge over the aguarico river collapsed
the legislation would order the commerce department to lift controls on 40 pct of goods on the restricted export list over the next three years unless other countries agree to comparable controls
output of goods producing industries rose 16 pct in the month with virtually all the growth occurring in manufacturing and mining
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
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
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
jmb realty trust jmbrs 2nd qtr feb 28 net
1986 quarter net includes 2300000 dlr provision for loss on future store closings offset by reduction in pension liabilities
brussels ferruzzi says it will pay 630 mln dlrs to cpc international for european mills
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
lifetime corp said retirement housing corp has accepted its previously announced acquisition offer
shr three cts vs nil net 328112 vs 6374 revs 1401155 vs 846253 note full name is intelligent business communications corp
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
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
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
however if the stock price rises to more than 130 pct of the conversion level the issue will be callable immediately csfb 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
cook now operates a total of 29 stores
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
corrected lifetime lft to buy nippon lace sahres
the official said indicators would be used to measure policy objectives of industrial countries and their economic projections
bayou international ltd said it purchased one third of the outstanding stock of solmecs corp nv a netherlands antilles corporation for 1750000 dlrs
s african m 3 money growth slows in january
the all items index base 1980 rose a monthly 12 pct to 2425 in april after increasing 11 pct to 2396 in march and standing at 2089 a year earlier
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
for 1986 as a whole the profitable firms had a net income of 92 billion dlrs up from 73 billion dlrs in 1985
the company posted net earnings of 115 mln dlrs or 172 dlrs per share on revenues of 1993 mln dlrs for fiscal year 1986
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
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
international thomson organisation ltd year
synthetech nzym ends southwest photo talks
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 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
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
australian wheat shipments rose to 133 mln tonnes in february from 101 mln in january an australian wheat board official said
the higher estimate is due to the ec commissions decision to hold special export tenders for french maize he said
that field is a segment of the market known as system utilities or software packages that boost the productivity of a companys data processing facilities by increasing the speed power and efficiency of large mainframe computers
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
twa said that in respect to usairs recent offer for piedmont aviation pie it believes that usairs shareholders would prefer a cash merger proposal for usair over its proposed acquisition of piedmont
primerica corp said it completed the previously announced acquisition of smith barney inc for 750 mln dlrs in cash
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
citing the share buybacks from norfolk southern he said one of santa fes options if threatened could be to buy the henley stake
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
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
groupe videotron ltd said it agreed to buy 50 pct of groupe promexpo inc a company which specializes in product exhibits for three mln dlrs
building society income has been depressed in recent months he said
exporters expect foreign demand to remain weak while industry is less optimistic than it was the association said in a report
it said the governments current budget did not permit it to provide sustained and adequate relief to those affected
schlumberger ltds slbn decision to end an agreement in principle for fujitsu ltd itsut to buy 80 pct of its fairchild semiconductor corp and the political furore that surrounded the proposed sale will make japanese companies more cautious in their efforts to acquire us high technology firms but will not halt such attempts industry analysts said
pakistan however rejected offers at its tender for 12000 tonnes of rbd palm oil but is expected to reenter the market next week they said
the market was surprised that the fed showed its face so soon said marine midland nas oneill
grain analysts said the increase of three mln tonnes in 1986 87 soviet grain imports is unlikely to affect the market tuesday
lvi group inc lvi 4th qtr net
pneumatic scale co pnu sets quarterly
the bid is conditional upon an examination by gordon of the business and affairs of pagecorp during the 45 days ending december 3 1987
corn guesses ranged from 20 mln to 25 mln bushels compared with 219 mln bushels a week ago and 282 mln a year ago
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
the consumer likes to have a fixed rate instrument he 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
share adjusted for stock dividends
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
california microwave cmic takes 3rd qtr charge
bremer landesbank issues australian dollar bond
st lawrence one three ports marseilles manfredonia range 20000 35000 mt bulk wheat 5000 222500 10 15 4
i think its much more doable he said
wall street stocks polaroid prd 
the usda has been using the gulf price to determine county posted prices one dealer said
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
the debentures were issued in june 1984 in connection with metromedias leveraged buyout
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
us ex im bank to change lending policies
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
delta says court order will not delay merger
fees are a 1 3 8 pct selling concession and 5 8 pct combined management and underwriting fee
the issue matures on april 15 1992 and is priced at 8122 pct
cocoa buffer stock rules effective immediately
pork checkoff refunds less than expected
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
current year results include technicon corp acquired in august 1986
the commission proposed its package to save one billion dollars on the ecs ever rising farm budget
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
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
first bank system fbs sells lewiston bank
preparation of the fields for the 1987 88 wheat crop which will be sown between may and august or september has so far not been as intense as in previous years
citicorp said if dixons accepted the proposal cyacq would terminate its competing offer for cyclops
the issues are designed to help curb the growth of m 1b money supply which is expanding as a result of large foreign exchange reserves
bob dole r kans sponsors of the bills have brought the legislation forward
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
iran says it intends no threat to gulf shipping
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
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
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
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
it reported 1986 net income of 1241 mln dlrs against 4124 mln dlrs a year earlier
coopervision eye forms recapitalization plan
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
early this afternoon the fed also is expected to supply reserves permanently effective thursday by offering to buy all maturities of treasury bills
earlier japanese trust banking sources said the ministry had asked them to moderate their dollar sales
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
total deposits rose to 1718 billion nz dlrs in january compared with 1674 billion in december and 1316 billion in january 1986
fed adds reserves via customer repurchases
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 are aiming for a pact by next october
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
operating income in 1986 fell more than 80 pct to 380 mln dlrs
earnings from continuing retail operations in the quarter totalled 270 mln dlrs or 200 dlrs a share compared with 2494 mln dlrs or 191 dlrs a year ago
a major report is expected to be issued in washington soon
in london yesterday chairman of belgian starch producer amylum nv pierre callebaut told that since ferruzzi was apparently still organising finance his company might still succeed with its rival bid for the cpc business
the house armed services committee has voted for a transfer in the management of stockpiled materials for national defense to the us defense secretary
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
philippine coconut chief to lobby against ec tax
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
the institute is conducting a survey to determine how many trees will be uprooted or base budded
the facility incorporate a 70 mln stg committed element from a group of international banks
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 group had proposed a takeover of hecks in september but later withdrew the offer and hecks on march 5 filed for protection from its creditors under federal bankruptcy law
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
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
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
however this was far below the 73 pct increase planned for the industry for the whole of 1988
feds johnson says he does not see increasing pressure on interest rates
only 55 exploratory wells were drilled in kern county in 1986 compared to 137 in 1985 according to david mitchell of the state energy commission
contractual volumes assume no production ceiling
the first quarter average for the index also was 539 pct
harper hpr gets bid from harcourt hbj 
coca cola bottling coke files to offer notes
qtly div 14 cts vs 14 cts prior pay april eight record march 26
krupp has satisfactory 1986 results
its clear that the fed has firmed somewhat
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
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
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
the proposals were approved as amendments to a comprehensive trade bill moving through congress this year
we are waiting for the first move from them he told turkish radio in london
european community countries were the main destinations for dutch soymeal exports with 102355 tonnes compared with 124026 in december and 116080 in january 1986
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
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
western digital wdc redeems 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
german financial policy makers in rare dissension
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
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
a third arbitrageur noted mark iv had been involved in several takeovers previously and has proven itself to be a determined bidder
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
i would like to shoot for one mln barrels a day he said
fifteen people were killed in the copperbelt during food riots last december after the government tried to lift maize subsidies
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
it makes brand name interconnection products
caesars world inc said it filed a lawsuit against martin t
it also said steven reid a company founder and president of the test division has made an offer to purchase the unit
the debentures to be offered in minimum denominations of 10000 dlrs are the joint obligation of santa barbara savings and the parent company
swire expects continued growth this year
canada britain france japan the us and west germany agreed to cooperate in stabilising exchange rates around current levels
economists said the fact that money stock growth remained stable last month was a success
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
italys bnl to issue 120 mln dlr convertible bond
curtice burns foods inc cbi 1st qtr net
it said proved reserves at december 31 totaled 48 mln barrels of oil and 88 mln cubic feet of natural gas
mercer said about seven companies are interested in buying celeron and they may form a consortium to buy the unit
standard and poors corp said it may downgrade gaf corps 415 mln dlrs of bb minus senior debt and b rated subordinated debt
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
canadas mulroney says us trade deal nears
nixdorf computer ag nixgf said its supervisory board has appointed sven kado to the new position of deputy member of the managing board increasing the number of board members to seven
the light louisiana grade was also raised 50 cts to 1785 dlrs a barrel
continental illinois corps cil chairman john swearingen said he sees negotiations to reschedule brazils debt payments taking at least three to six months
an analyst who wanted anonymity said 40 dlrs a share is a decent price for outboard
it also said it bought debentures on feb 23 that could be converted into 94254 shares
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
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
a new date has not been set but it will likely be no sooner than next march powers said
morgan shares firmed two pence to 318p at 0905 gmt from 316p at fridays close
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
idc services inc said a new company will begin a cash tender offer by october 26 to acquire all of idcs outstanding common for 16 dlrs a share
timberland industries inc timb 4th qtr net
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
louis as well as springfield centralia and decatur ill
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
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 agency received the shares as part of its 45 billion dlrs 1984 bailout of the bank
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
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
the bank of france announced that it will publicly auction 105 billion francs of negotiable treasury bills on march 16
senior us officials have accused tokyo of failing to live up to the accord and have threatened retaliatory action
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 merchandise trade surplus was pared to 1013 billion dlrs in 1986 from 1748 billion dlrs in 1985
lac minerals ltd said it will suspend underground mining and exploration at its lake shore mine at kirkland lake ontario on april 30 pending results of a surface exploration drilling program
payment date is may 15 denominations are of 1000 and 10000 ecus and listing is in luxembourg
it hit a new record low of 14820 yen yesterday
but it has caused an outcry among bankers who say it will push up borrowing costs
a direct reserve supply through system repurchase agreements is possible instead
exports were 286 billion dlrs in february against 283 billion in january and 223 billion in february last year
manila wants to pay the london interbank offered rate in cash and to issue pins in respect of the margin above libor
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
uk money market given late help of 185 mln stg
the lawsuits would be filed with competent international bodies once the exact damage was calculated he was quoted telling a news conference in tehran
but us officials and businessmen are convinced low us exports to japan are japans fault
cotton and rice are pakistans main exports which have been handled exclusively by state corporations since early 1970s
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
the rate compares with 124 pct at the end of february 1986
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
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
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
polycast said it made the sales april 6 8 in the over the counter market
the value of the contract was not disclosed
reagan seeks romania trade concession
if we were to make a major acquisition it means we can move with a certain expediency sinclair said
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
for the first nine months of 1986 all seemed to be on target for a repeat with monthly surpluses averaging one billion dlrs
haitian cane planters protest sugar mill closure
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
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
during production tests about 5000 barrels of oil and five mln cubic feet of gas per day were produced it said
he said mitsubishi expects the danish companys annual sales to be 10 billion yen in its first year from april 1
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 belgian national bank bought foreign currencies against francs on the open market in the week ended march 9 a bank spokesman said
the contribution of each one of them corresponds exactly to the request of the mexican government the statememt said
the individual value of reserve assets in australian dollars at end february with end january and year earlier respectively in brackets were
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
the nation would be lucky to produce over seven mln bags 630000 tonnes of maize this year he stated
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
home federal upper east tennessee hfet 1st qtr
cbt traders see lower soybean export inspections
the problem grew severe as customers won cheaper sources of gas because of open access
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
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
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
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
it will mature on that day in 1992
revenues increased by 20 pct to 118 mln dlrs from year earlier 98 mln dlrs
amcast industrial corp acst 2nd qtr net
justice asks us dismissal of twa twa filing
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
company spokesman dale coffin said the investigation could take from a few days to several weeks but would not be more specific
the federal reserve is expected to enter the us government securities market to add temporary reserves economists said
exports of these teas are likely to rise to 95000 tonnes in 1987 from 85000 in 1986 and around 90000 in 1985
the 10 3 4 pct notes will be redeemed at 10896 pct plus accrued interest from march 1 1987
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
fidelity bank senior economist mickey levy said some of the fourth quarter slowness will continue
reserve bank governor gerhard de kock said south africa should have no difficulty whatsoever with the terms
asked about such criticism lyng said the alternative to doing that is to say that we preserve them and maintain them
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
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
but the presidents instructions were unequivocal and unwavering do not yield one more millimetre and i dont care how long it takes
aequitron aqtn sees 4th qtr charge
the alternative was that if he did not congress would
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
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
ccc accepts bonus on barley to saudi arabia
pretax profit comprises securities and money broking 1544 mln stg vs 1075 mln personal financial services 36 mln vs 735000 stg media 374 mln vs 316 mln market reserch 912000 stg vs 732000 net interest 438000 vs 103 mln
shr 48 cts vs 81 cts net 3986000 vs 6760000 revs 773 mln vs 405 mln
ecuador has trade surplus in first four months
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
burlington industries inc bur offering of 100 mln dlrs of sinking fund debentures due 2017 through kidder peabody and co inc and an offering of 75 mln dlrs of convertible subordinated debentures due 2012 through an underwriting group led by kidder peabody
conrac corp rejects mark iv industries tender offer explores alternatives
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
ec mainly for tin extension no uk stand taken
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
light to moderate rain spread from northern thailand to northern vietnam as dry weather prevailed elsewhere in southeast asia
la quinta motor inns inc lqm 3rd qtr feb 28 net
hartford national corp hnat declares dividend
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
a spokesman said he could not comment on the twa action
it said seashore bankshares has assets of about 46 mln dlrs
wallace computer services inc said it acquired for 12 mln dlrs in cash and industrial revenue bonds certain assets of rockwell barnes inc a chicago based office products company
us business loans fall 660 mln dlrs
union electric seeks 150 mln dlr loan facility
ems currencies saw the french franc end unchanged from last night at 3003 06 marks per 100 with the belgian franc easing however to 4829 831 marks per 100 from 4831 833
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 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
contracts for june delivery forward could open 25 to 50 cents lower while april will likely open about steady analysts said
it said the proposal is currently being studied by goldman sachs and co and legal counsel
merchant banks and stockbrokers interested in being considered for this would be interviewed in early april
the dollar fell as low as 14290 yen despite central bank intervention at 14300 yen dealers 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
what it did was distort the quarterly earnings pattern he said
it said will buy up to 302300 shares of astrotechs 180 dlrs cumulative preferred stock
we do not relate the texas gulf structure with the louisiana gulf structure at all
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
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
the purchase price was not disclosed
bankers expect rule changes this year
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
peoples savings bank of brockton pbkbo 
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
the united states conducts no trade with nicaragua and very little trade with romania and paraguay
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
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
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
itt corp itt regular qtrly dividend
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
boddington is principally a bauxite mine
capital adequacy ratios remained strong with the primary capital ratio standing at 75 pct at end 1986 he said
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
the exchange said it raised spot march requirement to 130000 yen on contracts outstanding at march 13
in a filing with the securities and exchange commission mark iv corrected a statement it made yesterday in another sec filing in which it listed several agreements reached with baird including that baird would not take any anti takeover steps without providing at least 24 hours notice
it has blamed the fall in 1986 profits on the weaker dollar and lack of demand for steel pipe
a south african trade union is in dispute with a subsidiary of britains johnson matthey plc over the companys proposal to move a platinum refinery near johannesburg to a black tribal homeland
the 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
borg warner has said its management is not a participant in the transaction but managers will retain their positions
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
the controls will not be exercised in cases where the value of the banks stake in a concern is below the lesser of two predefined limits
analysts are calling it unchanged to slightly up or down for the week ended march 20
hutton has begun a tender for 83 pct of purolator at 35 dlrs cash per share
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
it said chinas industrial production this year has been normal but product quality and efficiency need further improvement
year ago excludes losses of 75809 dlrs or four cts in qtr and 146061 dlrs or eight cts in year from discontinued operations
lloyds investment managers ltd a london based investment firm said it raised it stake in italy fund to 760500 shares or 120 pct of the total outstanding common stock from 466000 shares or 74 pct
in the united states union texas said it completed evaluation work on its oil find in alaskas colville delta area
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
but greater market capitalisation following the big bang restructuring last year provided an opportunity for change
japan does not intend to cut discount rate sumita
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
he said grain production is planned at 235 mln tonnes in 1988 compared with a planned 232 mln this year
us intec inc intk 4th qtr net
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
bra kanon said that his country would strive to diversify its agricultural production to avoid beeing too dependent from world market fluctuation
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
godfrey co gdfyo 1st qtr may 30 net
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
feds johnson says louvre accord still vital
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
soybean cake and expellers 166 164 pellets 159 157 and meal 149 147 all for shipments june onwards
the amount was not confirmed but the talk was widespread through the trade
nv klm royal dutch airlines klmas is absolutely not negotiating a takeover of us regional carrier air atlanta a klm spokeswoman said in a comment on an article in the leading dutch evening paper nrc handelsblad
service industries unlike manufacturing industry were continuing to do well because they relied on consumer demand it said
ryan told analysts although he declined to forecast earnings specifically
the fire weakened part of the mines support structure coffin said
eib issues 300 mln luxembourg franc placement
cuba tells traders sugar exports may be delayed
bradford is recommending sale of usx shares
75 06 w
newhall resources nr qtly distribution
he denied that opec was exceeding its agreed production ceiling
vanzetti vanz increase of shares approved
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
five groups including an alliance between west germanys siemens ag siegf and frances schneider sa schnpa subsidiary jeumont schneider have applied to buy what is frances second largest telephone switching firm
bp australia said it had not recommended a dividend
nows a good time said joe levy of international data corp
halbert president and chief executive officer of halbert an abilene investment firm was named chairman and chief executive of summit the company said
vertex vetx to buy computer transceiver stake
lomas lnk shareholders approve acquisition
minorco said it expects net earnings to be substantially stronger than the 440 mln dlrs reported for the first half
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
weinberger says us forces attacked iranian oil platform
lending is now about one billion a year
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
export business grains oilseeds complex
no dividend has been paid since 1984
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
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
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
nixdorf world group 1986 net profit 22242 mln marks vs 17229 mln div 10 marks
at yearend according to the companys 1986 annual report honeywells total debt stood at 144 billion dlrs compared with 7766 mln dlrs in 1985
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
the company said its operations are performing well and in line with expectations
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
trace products trceo merger agreement suspended
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
rubbermaid inc said it completed the previously announced acquisitions of viking brush ltd a canadian maker of brushes brooms and other cleaning aids and the little tikes manufacturing licensee in ireland
shr 105 dlrs vs 51 cts net 8500000 vs 4100000 revs 1832 mln vs 1366 mln
cairo stopped repaying moscow for arms purchases in 1977 when then president anwar sadat broke with its long standing ally and turned to the us
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
if usair were to acquire more than 51 pct in the tender it would be required to sell the excess within one week
liemandt away from his job as chairman of general electric cos ge computer services unit
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
viacom international inc said national amusements inc has again raised the value of its offer for viacoms publicly held stock
in april producer prices fell 03 pct from march and dropped 36 pct from their levels a year earlier
the government said the strike was designed to cause it embarrassment during the four day visit of west german president richard von weizsaecker which starts on friday
group 1986 net profit 541 mln swiss francs vs
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
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
scott is not in the best interest of shareholders and it does not plan to meet with the individuals
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 name of the game now is outbound sales forces customer service and customer support said levy of international data
paradise fruit parf sets lower dividend
they said the intervention occurred near the dollars early low of 14850 yen and the us currency subsequently firmed to 14905 15
gca corp gca year
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
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
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum
the amount will be set at tender on april 3 between 0700 and 0730 hours gmt
1985 uncorrected figure 573 dividend 250 guilders vs 238 corrected
fading hope for passengers trapped aboard a partially sunk channel ferry raised fears the accident could rank among this centuries worst peacetime shipping tragedies
the leveraged buyout plan was for 1750 dlrs per share in cash and 250 dlrs in 13 1 2 pct cumulative preferred stock
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
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
we need time for those actions and the earlier depreciation to work their effects he said
bell previously held 10 pct of standard
a multinational shareholder group told the securities and exchange commission it increased its stake in scandinavia fund inc to 355 pct from 305 pct
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
the increases will affect certain non contract or spot transactions and will be achieved through reductions in competitive discounts
over an informal barbecue at a farm outside sao paulo owned by millionaire entrepreneur matias machline sarney met more than 20 businessmen for discussion on brazils economic crisis
the incorporation of cc bank in our group will provide a major boost for chanelling investment between spain and the european community the statement said
brazils 1986 87 soybean exports were forecast at 250 mln tonnes vs 250 mln tonnes estimated last month
the balance of the offering is owned directly and indirectly by various trusts of jean and charles degunzberg
m 1 money supply rose 413 pct to 84921 billion won in february from january when it fell 782 pct from december
diagnostic manufactures medical immunological diagnostic test kits
leaseway transportation corp ltc 4th qtr loss
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
at an airport news conference howard denied opposition charges that his trip had been a failure because he had returned empty handed
i think this could be a very important factor for us semiconductor manufacturers industry analyst elliot levine of ladenburg thalmann co said
under terms of the merger which took effective today universal said its shareholders will receive three dlrs a share in cash
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
exports of crude and products in the first four months were around 2561 mln dlrs compared with 4033 mln in the same period in 1986
the department estimated spring potato area for harvest at 79100 acres vs 76700 acres estimated last month and 75900 acres harvested last year
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
popsicle canada through its 19 licensees is the largest maker and distributor of frozen novelty products in canada clabir added
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
a carling official later said in reply to an inquiry that carling would record the extraordinary gain in its fourth quarter ending march 31
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
we do not understand why the g 7 approved present rates as the yen has risen excessively since the paris accord ishihara said
bp had inadequate distribution facilities in the us while standard which was strong on marketing and refining was short on crude oil
ministers feel ec forecasts too pessimistic
vws group net profit in 1985 was 596 mln marks and parent company net was 477 mln marks
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
ecofuel officials said the plant is modeled after one in saudi arabia
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
the current 7 1 2 pct treasury bond traded down to 94 11 32 in tokyo this week pushing the yield to 798 pct
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
amerihealth inc ahth 4th qtr loss
about 2800 members of local 222 are affected by the shutdown
amoco canada president t
us certified coffee stocks down in latest week
the company said it expects to release earnings in april
continental grain co of new york received the first 30000 tonne cargo contract priced at 9386 us dlrs per tonne while peavey co of minneapolis won the second shipment also 30000 tonnes at 9336 dlrs per tonne
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
terms of the acquisition were not disclosed
anitec said the proceeds will be used for acquisitions joint ventures and other investments
unadjusted m 2 plus cds stood at an average 336000 billion yen in february compared with 337100 billion yen in january
period ended january 30
the borrower is a state backed public corporation which provides 70 to 85 pct of the single family residential mortgages in alaska
safety kleen sk completes acquisition
venezuela has an output quota of 1495 bpd while ecuadors is 210000 bpd
the index showed a 04 pct drop in january
fridays consumer price report for february is expected to show an increase of about 03 pct after a 07 pct january gain
ratings under review include the companys first mortgage bonds and secured pollution control revenue bonds currently aa 3
the proposed increase in procurement of foreign goods by the government will probably include the purchase of super computers ldp officials said
us single family home sales fell 68 pct in jan after revised 121 pct dec gain
the company said bowcan holdings inc a holding company principally owned by the seaman brothers of calgary and charles rosner bronfman trust of montreal is offering to sell all of its holding of 8279665 bow valley common shares
citing limited subsidy funds and uncertainties about next years crops he said there are too many variables now
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
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
qtly div four cts vs four cts prior pay april 22 record april three
ike kerridge a hughes economist said in 1986 the united states replaced only about 40 pct of the gas it used and that replacement rate wont be any better this year he added we dont have the options we do with oil
kado whose appointment takes effect from today joined nixdorf in 1984 and was previously the companys head of controlling and purchasing
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
norstar holders will receive 12 fleet shares for each one of theirs following fleets previously announced two for one split
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
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
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
washington signed a three year accord with taipei last year limiting textile export growth to 05 pct a year
as reported forrest gold owns two mines in western australia producing a combined 37000 ounces of gold a year
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
africa added three seismic crews the middle east increased by two and the far east added one while reductions were reported in central and south america europe and the united states
it said the fighting was quelled after 25 minutes by its own security staff
accu weather inc which specialises in providing data for agriculture and shipping interests said each el nino event was unique
an income tax surcharge and capital gains tax could bring about an urgently needed depreciation of the nz dollar independent economist len bayliss said
in a filing with the securities and exchange commission moller said he bought 65000 first western common shares between january 20 and march 26 at prices ranging from 10000 to 10625 dlrs a share
its getting a little confusing said james carroll analyst at painewebber group inc
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
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
allied signal ald to sell electronics unit
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 philippines has so far drawn three tranches totalling 58 mln sdrs from the arrangement expiring on april 23 1988
this amount represents about a third of annual ec exports to non ec countries
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
bank of england resists pressure for rate cut
ch beazer holdings plc to offer us shares
the companies cited a combination of extraordinary market conditions and unresolved terms of the merger as contributing to the action
the group said it paid 114 mln dlrs for its 16 mln holiday shares 530000 of which were bought since feb
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
but pressure for their introduction here is growing
musa said liberia was invited to join and its share will be decided after a project feasibility study
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
his expectations of a satisfactory profit were based on a combination of price rises and cost cutting he added
we are aware of the negative forces trying to manipulate the operations of the market but we are satisfied that the fundamentals exist for stable market conditions he said
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
bank of america has about four billion dlrs of credit card receivables making it one of the biggest in the us analysts said
info data said it plans to change its name to usa outdoor advertising inc to reflect the change in the companys operations
imports in october totalled 23803 tonnes compared with 4685 tonnes in the same month of 1985 while november imports were up to 136029 tonnes from 46541
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
kertosastro predicted that exports were unlikely to rise much from last years level of 320000 tonnes
under terms of the merger agreement chatsworth said lotoquik shareholders would own a majority of the surviving company
usda said soviet coarse grain imports include 1986 87 corn imports which it forecast at 800 mln tonnes vs 600 mln tonnes last month
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
american security asec to release information
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
he attributed the good surplus on exports of manufactured and semimanufactured goods
in a letter to the committees the bank group said commercial banks cannot be the dominant supplier of balance of payments finance schulmann said that imf exposure peaked in 1985 and has declined a bit since then
canada 91 day t bills average 729 pct making bank rate 754 pct
the contract received commodity futures trading commission cftc approval on january 21 after being submitted for review last october 13
but the accounting change effective january 1 will reflect only cash received through interim rates approved by the commission pacific gas and electric said
by failing to disclose that they are acting together the market is unware of the amount of stock of a company that is controlled by a group acting in concert
norfolk southern declined comment but said it stuck with its offer for piedmont
he also said he has no plans to seek control of the company
these brands and winchester represent less than one pct of rj reynolds tobacco usas total sales which were 47 billion dlrs in 1986
oppenheimer ups viacom via stake to 77 pct
according to a copy of perelmans letter released by gillette he would be prepared to sign a defnitive merger agreement without any financing condition
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
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
production in 1985 86 is estimated at 2495 mln tonnes vs 2495 mln last month
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
sun co last changed its crude postings on march 4
the sources said the credibility of opec would come under fresh scrutiny from monday with activity in the european and american markets it said
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
samson energy co limited partnership sam year
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
service corp international said its investment capital corp unit sold its entire 148 pct stake in capital southwest corp cswco common stock and no longer holds any capital southwest shares
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
world crop weather summary usda noaa
first quarter net partly benefitted from net interest income up to 5618 mln dlrs from year ago 5409 mln dlrs
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
nutone makes built in electric products for the housing market and yale makes door locks and electronic security products
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
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
shr 33p vs 38p net 97 mln vs 111 mln revs 171 billion vs 176 billion note figures in sterling
after travelling this week to france germany switzerland and italy funaro hopes to visit canada and japan next week before starting negotiations with banks
a new catalytic cracker at shells stanlow refinery will now come on stream by the end of first quarter 1988 about five months behind schedule following a crane accident which severely damaged the plant last year he said
the united states sees 32 pct growth for itself continuing its expansion for a fifth year and has asked other industrial countries to stimulate their economies
corning glass works glw buys fiber optic stake
shr six cts vs six cts prior qtr pay april 10 record march 27
first montauk securities in merger deal
the 1987 report said gross national product would only expand a real 17 pct this year below previous expectations because of weaker exports
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
german capital account in deficit in february
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
duff phelps upgrades bellsouth corp bls unit
colombia coffee revenue sharply down in jan feb
bei holdings ltd said it acquired ivey rowton and associates a nashville tenn based bank marketing firm
the reduction follows similar moves from the three other british clearing banks
labour minister almir pazzionotto would act as a mediator
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
that estimate according to a cbo official was based on an assumption that certificates cost the government about 15 pct more than cash payments
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
mikulic visits west germany next week and debt is expected to figure high on the agenda of his talks with chancellor helmut kohl
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
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
the 15 pct figure up five percentage points from earlier proposals represents a concession to consumers delegates said
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
shr 81 cts vs 81 cts net 8750024 vs 7772932 revs 1576 mln vs 1624 mln avg shrs 108 mln vs 96 mln
danish overnight money market rate cut to 10 pct from 105 central bank
royal bank of canada said it estimates 1987 loan losses at one billion dlrs a 25 mln dlr increase over last year
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
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
up until recently you could see any motion picture on any pay channel redstone said
kidder peabody international ltd and montgomery securities are co managing the offering wyle also said
alcan australia ltd said it increased the list price of 995 pct purity aluminium ingot to 2050 dlrs a tonne from 1950 dlrs effective immediately
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
i can only conclude that the common objective of the japanese government and industry is to dominate the world electronics market
final div 20 cents vs same making 375 vs same
it yields no calories and does not promote tooth decay
co lead manager is mitsubishi finance international ltd
lo said csbc has made losses of about 100 mln us dlrs since beginning operations in 1975
coffee exports are especially sensitive to the disruption of rail transport since president yoweri museveni has banned their haulage by road in a drive to save transport costs
the buyer was not named
in other industrial sectors mining production fell four pct and construction output 4 1 2 pct
the italian firm said steuart petroleum operates primarily on the east coast of the us
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
safety kleen sk completes acquisition
the index of lagging indicators which measures past economic activity rose 05 pct in january after a decrease of 05 pct in december and an increase of 02 pct in november
nova cellular has an accumulated deficit of about 650000 dlrs and had revenues of about 2600000 dlrs for 1986 it said
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
commenting on its camco inc oil service subsidiary pearson said it believes the oil business setback is only temporary
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
altogether it looks good for labours election prospects he said
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
austria decides early redemption of samurai bond
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
but the japanese remain doubtful about the short or even medium term prospects of totally transforming their economic habits
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 statement said westlb internationals business with private customers showed a pleasing expansion last year
the paper said reliable sources disclosed that the country is running a budget deficit it gave no figure
banco di roma unit arranges euro paper program
last months unemployment rate was down from the 72 pct level in march 1986
us home corp said its first quarter ending march 31 1987 will be its most profitable first quarter since 1983
bishop also said it has opened a new sales and service office in irvine calif
the increase would allow outstanding bonds to total 40 pct of the 1987 88 budget up from 25 pct in the current year
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 canadian government has called in a labor conciliator to try to hammer out a contract agreement between the two sides
iranians manning the platform were warned in advance and allowed to escape
merry go round enterprises inc said its board declared a three for two stock split payable may one to holders of record april 17
export duty on crude palm oil cpo rose to 3830 ringgit per tonne from 1606 last month
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
the bank official said baker did not mean to talk the dollar down
shr 64 cts vs 38 cts net 1062000 vs 585000 sales 136 mln vs 9262000
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
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
net tangible assets are 52 mln dlrs hanson said
the ministers are in new zealand to review world trade since the uruguay round talks last september
bell petroleum bpsio regal to form plan
the company said it has been approached by a number of parties in recent months
the share currently trades at 734 francs
total soybean planted area for the 1986 87 harvest is expected to be a record 37 to 38 mln hectares up 108 to 138 pct from last years harvest figure of 334 mln hectares
but only saudi arabia met its obligations while the others failed because of falling income due to lower oil prices
sandoz has insisted that it is adequately insured to cover any liability arising from the accident
terms were not disclosed
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
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
sedgwick group plc sdwkl said its wholly owned canadian subsidiary sedgwick tomenson inc had acquired bsi incorp for a maximum eight mln canadian dlrs
northview corp novc year net
twa said the offer was made in a letter to edmin colodny chairman and president of usair
profits of service sector companies are likely to fall in the business year ending in march 1988 leading to a possible recession in the japanese economy he said
the dispute began on january 19 in protest at employers plans for 800 redundancies from the 4000 strong workforce starting with 350 this year
he said 1985 and 1986 were good harvests and this year to add to the production fall drought had affected output
we are aiming to reduce production in japan but of course this takes time 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
the company said an investment banking group managed by dillon read and co inc will handle the offering
qtly div 415 cts vs 415 cts prior pay april 28 record march 31
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
harley davidson inc hdi 4th qtr net
also excluded are reserves of 1400000 tons of low grade material that could be milled profitably at 425 dlrs a ton for gold
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
the bill would give a blanket waiver of any federal banking regulations that bar such actions
since 1975 vietnam has resettled about three million people from cities and crowded river deltas to the zones
farmers incomes increased by 122 billion dlrs in february after declining by 87 billion dlrs in january
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
they include one billion ecus in loans from the european investment bank the ec long term financing arm
1985 86 at 1045 vs 1045 last month
the payment date is may 7
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
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
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
analysts said borg warners chemical business would add earnings momentum to gaf
other trade issues being discussed in the current gatt round include reform of trade in merchandise and services
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
he declined to say what gencorps next move might be or whether it would issue a statement later today
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
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
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
basf us profitturnover boosted by acquisitions
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
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
equatorial communications co equa 4th qtr loss
wallace computer wcs buy office products firm
instead of banding together the individual cooperatives are forced to go their own ways said the floor manager of one cash house at the chicago board of trade
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 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
similarly the senate budget committee has approved a plan that would cut federal red ink by about 37 billion dlrs next year
gardini told the operation under consideration was aimed at international markets and that the figure of 400 mln dlrs given in some press reports was probably about right european sugar wholly owned by ferruzzi unit eridania zuccherifici nazionali spa is expected to absorb the european corn wet milling business of cpc international inc which ferruzzi recently agreed to buy
it was a definite hint at lower german interest rates said one banker who attended the symposium
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
the agreement with ich will provide access to all 50 states from pre paids present coverage in 22 states he said
sugar which ec producers plan to sell into intervention may be offered by the european commission for sale within the community broker c
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
sudan unable to fully service its debts since 1985 and declared ineligible last year by the international monetary fund for fresh loans has been servicing only creditors banned from extending fresh loans to recipients in arrears
the institute cautioned that the expansionary stance of monetary policy in west germany was likely to bring a marked acceleration of inflation
the company said modern mailers had revenues of 8600000 dlrs for the year ended october 31 and provides computer service computer printing and lettershop facilities
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
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
banner bnr completes tender for rexnord rex 
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
trading conditions in the area are particularly difficult because the citys economy depends to a large extent on the fortunes of the petroleum industry but the situation should improve in the medium to long term and the investment will prove to be sound he said
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
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
senior representatives of the sugar cane growers had indicated a desire to commence the crush as soon as possible he added
standard and poors corp said it downgraded canadas province of saskatchewan
last month dutch traders said the sugar on offer in the netherlands was belgian but the ministry could not confirm this
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
pakistan could import 100000 tonnes of palm oil
mfs municipal income trust said it declared a monthly income distribution of 57 cts a share compared with 55 cts a share paid in the previous month
terms of the transactions and other parties involved were not disclosed
officials at fairchild and fujitsu were not immediately available for comment
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
austmet should be generating profits from july 1 and a 15 25 mln dlr net is envisaged within two years it said
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
senator wants stronger air merger regulation
over 300000 tonnes of french soft wheat have been sold to tunisia since the beginning of the 1986 87 campaign of which 225000 to 250000 tonnes have already been shipped they said
great american issues 15 billion yen eurobond
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
outstanding bank credits to companies and private individuals remained virtually unchanged in february
turkish ship headed for florida after explosion
gillette canada issues 500 mln french franc bond
she said traders will get a better idea of next years cotton output when the usdas planted acreage report is released on july 9
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
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
cabot cbt calls notes for redemption
telex corp to investigate alternatives to tlx partners bid may seek other purchasers
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
brazil had taken a unilateral step roeller said but brazil had a strong and broad economic base
the executive said the merger would not alter his target of maintaining sales and earnings growth of 30 pct to 35 pct
it was the second half of the two week bank statement period that ended on wednesday
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
argyll added the agreements also depend on an indication from the uk office of fair trading by june 23 that the sale will not be referred to the monopolies commission
france sets seven billion franc t bill tender
lennar len sees strong earnings for 1987 year
south korean money supply rises in february
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
bank of tokyo curacao holdings nv is issuing a 120 mln canadian dlr eurobond due april 27 1994 with an 8 1 2 pct coupon and priced at 101 1 8 pct bank of tokyo international ltd said as lead manager
for this reason few managers here foresee the bundesbank sacrificing its present calendar system
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
major commodity groups including the national corn growers the american farm bureau and the national cattlemens association have voiced strong opposition to 0 92
irving has about 500 mln dlrs of debt outstanding
we have had a second agreement but with the second agreement weve had difficulties with prices melnikov said
fraser and neave ltd frnmsi half yr to march 31
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
lead prices have risen this week against a background of a finely balanced physical sector traders said
it has also opposed a major management role in the planned merger for any non japanese overseas telecommunications firm on the grounds that no such international precedent exists
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
la land llx du pont dd get exploration tracts
mr
chinese hotel raises 21 mln dlr loan
robert d
madrid metro halted as spanish strikes spread
also resource said it will provide service work to complete the wells and it will operate the wells after they are completed
american motorss ccc preferred stock rating was also added to creditwatch but with positive implications
endevco said it plans to extend its existing mississippi fuel co system in southern mississippi 18 miles to the new pipeline
on the basis of data recently recalculated by the national statistics institute istat italy had a trade deficit in 1986 of 3722 billion lire the report said
china to import more grain in 1987
ongpin told the meeting he had kept his promise to gain terms better than those granted last year to mexico which won a 20 year repayment at 13 16 points over libor
the vessel grounded close to itaqui port in brazil last night after undocking from ponta da madeira terminal
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
it did not give the context of his remarks
however sterlings continuing firm performance had prompted interest in the tap right at the outset
fed says it offers to buy all coupon issues
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
operating income of its telephone operations which account for 91 pct of the total rose eight pct to 7360 mln dlrs
jwt approved additional lump sum payments of one years compensation to an unspecified number of other highly paid company officials
dome said 1986 crude oil production in 1986 was maintained at prior years levels through new drilling activity and improvements in productivity
white house spokesman marlin fitzwater said the proposal would be reviewed
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
accrued interest will be added in each case
the group said action by japan to cut back on semiconductor exports is not what is required
a spokesman for the dai ichi kangyo representative office here said the bank was naturally considering options such as expanding its mark securities trading operations to frankfurt
fed expected to set customer repurchases
the airlines said it sees the service as an option for business travellers
in addition keller said the company is selling more of its expensive model cars which are more profitable
amcast industrial corp said it completed the sale of its newman division to newman manufacturing inc a new company formed by newmans employees
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
treasurys baker says cooperation working
it said a 315 mln dlr 14 pct note is payable in four equal instalments over four years
gross reserves were slightly lower at 1857 billion dlrs because this classification did not include silver holdings and undervalued the central banks gold
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
joseph light and power co is full name of company
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
a group is now being formed
dome common shares closed at 113 dlrs on friday on the toronto stock exchange
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
he is theodore cross princeton nj editor of business and society review
a spokesman for the villa rica cooperative said flood waters last month had not reached coffee plantations and the crop was unaffected
moodys downgrades niagara mohawks 22 billion dlrs of debt
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
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
tropical forest death could spark new debt crisis
we can say that we are achieving the recuperation of credit but that cannot be done overnight azpurua said in a television interview
us sells 3 mo bills at 572 pct stop 574 pct 6 mo 580 pct stop 580 pct
over the past two weeks mobil has announced restructuring of its domestic exploration and development organization and this week a restructuring of its oil services units which support the new affiliate
the transaction included 140 mln dlrs in cash and stock and the assumption of a 299 mln dlrs mortgage
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
dealers said they were unsure what other methods could be used and they are sceptical anyway about how long the paris accord nations particulary the us will remain willing to prevent a further dollar fall given the continuing high us trade deficit especially with japan
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
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
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
pay date is april 24
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
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
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
on march 30 the ico ad hoc working group will meet to consider management consultants ernst amp whinneys report on the ico secretariat
lead production fell 229 pct to 1670 tonnes from 2165 and zinc production dropped 14 pct to 4830 tonnes he added
the warrants represented unsecured unsubordinated liabilities of the borrower
jwt group jwt sues wpp group plc
waxman industries inc waxm regular payout
since april 27 members of the brookehill group made net purchases of 6000 cardis common shares at approximately 4 dlrs a share
the auction will consist of 11 billion dlrs in 9 day bills and six billion dlrs in 20 day bills
amc amo studying chrysler c proposal
global raises heavy fuels prices
members of the mission met today with officials from the ministrys public finance department
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
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
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
republic american corp told the securities and exchange commission it raised its stake in buckeye partners lp to 963200 limited partnership units or 80 pct of the total from 744200 units or 62 pct
1986 qtr and nine mths includes gain 104 mln dlrs and 329 mln dlrs respectively from utilization of net operating loss carryforwards
tommorrow the uk government will consider what legal action it can possible take to press for japanese reform
they said there will be significant earnings gains in 1987 compared to last years dismal results when oil prices dropped about 50 pct
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
info data to acquire usa outdoor advertising
1st qtr ended september 26
national entertainment nent reverse split set
the g 7 reaffirmed that their currencies around current levels reflect economic fundamentals
mony financial services said it purchased united administrators inc in an effort to secure a larger market share for its group insurance line
it said it only about 450000 shares or 65 pct of purolator shares had been tendered and not withdrawn down from an 115 pct interest held earlier
there is a 7 8 pct selling concesssion and a 1 2 pct combined management and underwriting fee
the loan is for 15 years with 4 1 2 years grace at a variable interest rate
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
taft tfb had not completed tv station sale
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
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
asked what opecs output level was now he replied below 158 mln barrels per day he did not elaborate
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
ogden said the moratoriums will affect both pretax and net income equally because the banking firm has tax credits to use
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
but the two architects of the third world debt strategy gave no indications they would abandon their plan to promote economic growth and reform
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
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
the rating agency said that downgrades would continue to outpace upgrades among financial institutions
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
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
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
a cash alternative of 29055p will be made available
phillips p raises crude oil prices
dallas investor cuts stake in mcdermott mdr 
biomet inc bmet 3rd qtr feb 28 net
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
most of the cocoa readily available to the buffer stock is nearby in store material of malaysian and ivory coast origin
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
velayati could not be reached for comment on the us attack on an abandoned iranian oil rig on monday which tehran vowed to avenge
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
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
wage and price controls have been in force since august 1985
cpc international cpc sells south african unit
the company said the stock was purchased for an undisclosed amount from an unnamed group of investors
one always likes a situation like that
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
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
that very well may be the case said tom kay us agriculture department foreign agricultural service administrator
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 group said it may buy more shares and plans to study robesons operations
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
terms of the acquisition of 10 pct of norddeutsche affinerie from degussa ag dgsgf are currently being resolved mim said in a statement
new milford savings bank nmsb raises payout
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
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
an election is due before the end of september
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
western digital corp said it has completed the redemption of its 47 mln dlrs of 6 3 4 pct convertible subordinated debentures due 2011
bennett who is leading one of three soybean producer delegations on a lobbying tour of ec capitals was speaking at a lunch
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
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
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
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
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
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
domtar plans two for one stock split
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
sterivet laboratories ltd stvtf 1st qtr net
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
freedom federal frfe to recognize gain
borg warner has about 856 mln common shares outstanding
if there is no response from prime medical the group said it would consider the demand refused and would take other proper steps to get the information
these would ultimately pay up he said
soybean meal use fell to 258 mln tonnes from 263 mln and the compounding ratio declined to 100 pct from 103 pct
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
national westminster bank says it cutting base lending rate to 105 pct from 11 pct
foothill said the arrangement also bars santa cruz and sierrita fron tendering any foothill securities owned by them into any tender offer unless certain unspecified conditions are met
the company said the warrants are currently priced at 25 cts each but this price is suject to further evaluation by an independent underwriter
new zealands inflation and interest rates should decline and the balance of payments improve significantly in the fiscal year to the end of march 1988 the institute of economic research nzier said
lloyds said it has 36 billion stg in outstanding mortgage loans but had not estimated its total market share
industrial production stood at 1273 pct of the 1977 average in february and was up 17 pct from a year ago the fed said
first financial ffmc buys confidata
the days only other feature was a targetted 30 mln dlr stepped coupon deal for kawasaki steel due 1994
he said coca cola co ko one of the two additions is a genuine consumer stock as opposed to a smokestack he applauded the decision to drop inco ltd n a super stock at one time that hasnt done much lately the editors of the wall street journal also decided to add boeing co ba and dropping owens illinois inc oi charles jensen of mki securities said inco was a stodgy number but he noted that putting two new stocks in an average of 30 is a relatively minor change
computer network technology corp said it introduced the channelink model 5100 r a high speed networking product line
the bank forecasts the inflation rate will increase by 15 pct after its 07 pct rise in 1986
the transaction will involve an exchange of oakleaf stock for cash and debt and is subject to a definitive agreement the companys said
panama canal official confirms no 1988 toll rise
melamed said proposed changes in floor practices by traders of the popular standard and poors 500 stock index future would address complaints of trading abuses and stimulate trading
richard gephardt a missouri democrat who is seeking his partys 1988 presidential nomination said he may offer an amendment to call for reductions in the trade surpluses of those countries with barriers to imports of us goods
1986 year loss includes pre tax charge of 230 mln dlrs for write down of oil and gas properties
venezuela has no plans to seek revised debt accord
french eurofranc committee approves three issues
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
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
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
coleco industries inc clo 4th qtr
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
furthermore he cited reports of greater than normal winterkill in the soviet union
the debentures have an 11 1 2 pct coupon and were priced at 99
dallas corp dls 3rd qtr net
earlier usair said it agreed to buy piedmont for 69 dlrs cash per share
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
the government made net borrowings of 23 billion marks in 1986
together with two other main shareholders it also advanced fermenta an additional 65 mln crowns until a new equity issue could be made
big bear inc bgbr 2nd qtr feb 28 net
the group made no specific nominal forecasts of economic or inflation growth in its policy statement
alp grew by 114 pct during 1986
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
there will be a utilization fee of 1 16 pct when more than half the facility is in use
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
eni unit agip petroli buys stake in us company
dresser industries di sees return to profit
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
the company said the restaurants in orlando tampa and jacksonville markets have incurred the majority of bojangles operating losses over the last two years
the other 50 pct is held by total exploration sa the fields operator
listing will be in london
lsb lsb in pact to acquire northwest federal
in the longer term horizon bally wants to concentrate on its gaming businesses said analyst dennis forst of seidler amdec securities inc
howell corp hwl 4th qtr loss
earlier today hughes adjourned a shareholders meeting called to vote on the proposed merger until march 11 and said it hoped to resume negotitations with baker
the group said its most recent purchases included 241000 shares bought between january 21 and march 10
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
us business loans fell 822 mln dlrs in march 25 week fed says
group seeks prime medical pmsi holder list
we will certainly not export seven mln 60 kilo bags but neither are we going to sell like mad
it said the 1650 dlr cash alternative is an improvement over the 1500 dlr per share price contemplated under an agreement in principle with welsh carson announced on march five
and last night citibank said mexicos financing package including a 77 billion dlr loan will be signed on march 20
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
aides to roberts said he had spoken to republican leaders who had been in contact with administration officials
yesterday cayacq corp dropped certain conditions of its 9250 dlrs a share offer for cyclops and firmed up the financing for the proposed transaction
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
on the other hand does entertainment marketing have the management talent to run it and will the crazy eddie people leave its a risky strategy for entertainment marketing said analyst eliot laurence of wessels arnold and henderson a minneapolis brokerage
noranda inc said it agreed to buy an initial 1000501 treasury shares of sanivan group inc at 525 dlrs per share
the bonds will be redeemable in 20 almost equal annual instalments starting june 1 1988
fmha could lose seven billion dlrs in loans
hal roach hrsio robert halmi rhi to merge
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 government will also receive 85 mln sdrs under a new stand by agreement
the march 5 earthquake damaged an oil pipeline preventing crude exports for a projected five months
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
therefore we need more money to invest on new projects gros said
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
shr 3136 dlrs vs 2523 dlrs assets 2865 mln vs 2530 mln shrs out 9138526 vs 8839695 note latest assets after capital gain distributions of 50 cts a share in february 1987 and 83 cts a share in december 1986 and with 29955000 stated value 1676 dlr convertible preferred stock outstanding
bilateral discussions on interest rates continue he said
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
the national economic development authority neda announced yesterday gross domestic product gdp grew 578 pct and gross national product gnp 553 pct in the first quarter from a year earlier
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
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
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
bank of boston expects 1st qtr earnings from 90 cts to 100 dlrs shr vs 79 cts
dome has the right to force conversion if dome common reaches 3885 dlrs per share
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
uk money market deficit forecast at 300 mln stg
for sales porsche expects its overall world volume this year to be above 50000
ansett transport industries wholly owns ansett airlines one of australias two major domestic airlines and is in turn owned 50 50 by abeles international transport group tnt ltd tntas and rupert murdochs news corp ltd ncpas
reynolds said work will commence on the potline restart in the near future and it is expected that actual metal production will begin on september one
the six month bills rose one basis point but three month bills fell 17 basis points and the year bill fell two basis points
carlton intended to increase its presence in the us which represented 50 pct of the world television market
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
uk money market given 85 mln stg late help
additionally commerce secretary malcolm baldridge and other us officials have voiced reservations about the transaction since it was announced
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
at the end of 1986 it had 11 mln dlrs in bank debt outstanding with a 17 mln dlr payment due may one
combustion engineering inc csp regular div
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
presently upland cotton commodity certificates expire nine months from the last day of the month of issuance
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 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
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
bankamerica said however that it expects to report a profit for the first quarter of 1987
on november 5 the six exporters making up the ico board of management of the promotion fund will review its program for the 1987 88 year oct sept and items left over from 1986 87
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
the semiconductor industry association urged the us government to impose trade sanctions against japan for violating the us japan semiconductor trade agreement
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
quaker oats oat files shelf registration
they are now at 10 pct
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
codenoll technology corp codn 4th qtr loss
chemical chl net hurt by brazil expenses
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
last week nec corp said it would cut production in line with mitis request
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
mark resources to sell securities
if that article were invoked gatt would set up a panel to consider the legality of the us action
onyx petroleum converts debentures to common
offsetting factors included currency movements which cost the company nearly 50 mln stg
should further drilling and tests in the area yield positive results oil production from a floating platform could be considered director general of mineral and energy affairs louw alberts announced the strike earlier but said it was uneconomic
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
spending on food accounts for about one quarter of the average households budget and roughly 10 pct of the gross national product gnp according to a study by chew
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
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
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
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 firm will announce 1986 results in july
the bank of england said it forecast a shortage of around 450 mln stg in the money market today
us exporters report 150000 tonnes of barley sold to saudi arabia for 1987 88 usda
investors have 55 pct of datarex systems drx 
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
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
french firm has five pct of calif
heating oil prices rose 30 pct in february after a 180 pct rise in january the department said
bally manufacturing said it is considering sale of six flags theme parks
after the meeting the spokesman quoted stoltenberg as saying he was confident that foreign currencies could be stabilised at around current levels
the inra originally due to expire in october 1985 was extended to october 1987 to facilitate renegotiation
mfs managed sectors trust dividend increased
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
the group offered 1150 dlrs and one dlr of 10 pct preferred stock per calny share
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
csx corp csx 1st qtr net
gasoline prices rose by 55 pct last month after a 157 pct january rise the department 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
ecuador to ask opec to raise export quota
baldrige referring to the us japan trade agreement on semiconductors said their government wants to live up to it
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
moodys pointed out that zeniths total debt increased sharply over the past year and is being serviced by weak cash flow
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
economic spotlight ems marks eighth birthday
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
the issue is the fourth for payment this year
no securities repurchase agreement is expiring next week but dealers said the bundesbank could offer fresh liquidity if conditions significantly tighten
portugals developing stock markets however remain buoyant
year includes 1985 extraordinary gain from tax carry forward of 132000 dlrs or five cts per shr
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
but first interstate said that if brazils suspension of interest payments continues it may have to reclassify its loans as nonperforming and place them on non accrual meaning that interest previously accrued but not paid would be deducted from net income and interest would no longer be accrued
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
consumer products represented 50 pct of total 1986 turnover compared with 35 pct in 1982 van driel 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
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
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
the gao then decided to re examine the costs sources said
a local government official said the police force would remain in place until tempers had cooled down
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
isco inc isko 2nd qtr ends jan 30 net
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 
he said the us currency could fall as low as 135 yen soon
but the bank had reported a 1986 pre tax profit of 65 mln lira
the average work week rose 02 hours to 350 hours from 348 hours in january
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
all partners had agreed that the dollar was at about the right level and that further changes would damage growth he said
the company said it lost 22 mln dlrs from operations in 1986 against a loss of 672 mln dlrs a year ago
the spokesman said the company has built up a strong backlog of orders that will contribute to earnings in 1988 and beyond
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
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
the soviet trade deficit with the west almost quadrupled last year reaching 272 billion roubles compared with 713 mln in 1985 official figures showed
each of the nine supreme court justices has jurisdiction over a particular regional appellate circuit and has the power to provisionally overturn its rulings without comment
the bond will be issued in denominations of 1000 and 10000 marks
mcintyre did not specify the cash amount of the sale
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
it makes grinding machines
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
bangladesh moves against loan defaulters
ropak said it is borrowing the funds needed to buy the buckhorn shares from its bank lender and will not need to use any funds that another bank had committed to provide under a margin loan
us housing starts rose 44 pct in september to a seasonally adjusted annual rate of 1669000 units the commerce department said
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
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
aquino acknowledged there were grave doubts about her governments ambitious privatisation program
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
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
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
affected were 14030 hectares of palay unmilled rice representing a production loss of 22250 tonnes valued at 778 mln pesos department of agriculture reports said
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
the central bank maintains a stricter policy and tries to keep the mark below the 11300 guilders per 100
he said the closed pipelines run under river water and could be damaged as the flooded rivers erode the river banks and expose the piping
baker bko sues to force hughes ht merger
bp initially took a stake in standard following the discovery of oil in alaskas prudhoe bay in 1969
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 guaranteed notes will be redeemed may 15 at a redemption price of 1005 pct
general acquisition said it is confident its offer can be completed in a timely manner using its financial arrangements
junichiro koizumi the head of the ldp committee working out the plan said the phrase should not be taken as implying an immediate cut in japans 25 pct discount rate
mtech mtch to offer convertible debentures
the transaction is subject to approval by shareholders of both companies
patrick petroleum ppc to buy bayou
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 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
sundor group inc said it purchased dwg corps texun incs line of regional juice products
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
caesars currently carries b 1 convertible debt and the finance has same rated subordinated debentures
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
desotos industrial chemical operations are based in fort worth texas and has annual sales of about 17 mln dlrs
adb sources said indonesias cumulative disbursements at end 1986 amounted to only 11 billion dlrs or 30 pct of loans received
cash in circulation rose by 14 billion marks in the week to 1229 billion
the buffer stock may not help the terminal market but will provide a backstop for quality cocoas one trader said
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
istat said there were 20 working days in january the same as december but one fewer than january last year
the british pound has risen to 265793 against 242983
there was no sign of any origin activity
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
in remarks prepared for a speech before the economic club of detroit roderick said there should be total resolve that the dollar versus other major currencies as well as the currencies of other nations having a substantial trade surplus with us must continue to decline so that the correction in our trade deficit starts on the road to recovery roderick said the us should be understanding of the economic pain our trading partners experience as a result of a falling dollar
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
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
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
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
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
stop and shop cos shp in two for one split
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
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
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
shr 17 cts vs seven cts net 16600009 vs 653000 revs 210 mln vs 206 mln nine mths shr 34 cts vs 12 cts net 3320000 vs 1109000 revs 601 mln vs 574 mln note net includes loss from discontinued operations of 198000 or two cts per shr in qtr 1986 and 1425000 or 15 cts per shr in nine mths 1986
the bank of england said it gave the money market another 31 mln stg in assistance in the morning session
when announcing the negotiations with british and commonwealth last week klm said buying a minority stake in iml could involve a convertible loan issue
qtrly div 11 cts vs 11 cts pay april 21 record april 10
analysts also said borg warner may attempt to escape gaf through a restructuring
cobanco inc cbco year net
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
fees comprise 7 8 pct selling concession with 1 2 pct for management and underwriting combined
taw
cri said it has not yet declared a distribution on the park meadows loan disposition
morbelli noted chemlawn competes with thousands of individual entrepreuers who offer lawn and garden care sevice
qtly div class a two cts vs two cts prior qtly div class b one ct vs one ct prior pay april 17 record april 10
cambridge sells 100 mln dlrs of debentures
lyng said under market value accounting only about 700 mln dlrs of eep commodities have been used to date
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
it said china central tv will use cnn reports during its daily newscasts on two channels reaching an audience of about 300 mln viewers
he said final quality approval for all the sugar offered could come later this week
egypt authorized to buy pl 480 wheat flour usda
investor paul bilzerian who has said he may seek control of pay n pak stores inc said he raised his stake in the company to one mln shares or 99 pct of the total from 721900 shares or 72 pct
specialty stores generally have higher sales per square foot than general merchandise stores
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
poland and south korea who are in the market for feed wheat will be offered intervention grain through special tenders traders 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
it said the 12 year facility guaranteed by the indian government carries interest at a fixed rate of 740 pct
the rally began last week as proceeds from a sell off in dollar paper flooded into stronger currencies
oil executives see gradual rise in prices
he also told in an interview he is seeking an acquisition of from two billion to eight billion dlrs
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
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
under the rescheduling mexico is restructuring 437 billion dlrs of previously rescheduled debt over 20 years with seven years grace
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
bilzerian tells sec he ups pay n pak stake to 99 pct
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
the company reported its 1986 profits were 44 pct lower at 1546 mln guilders than in the year before
the acquisition of the tikes licensee is part of the expansion of little tikes in the european toy market
us agency to allow us air to buy 51 pct of piedmont pending final okay of merger
uk earnings rise 76 pct in year to january
viner and co had regulatory capital of 245 mln us dlrs at year end 1986
some us officials feel funaros consolidation of power over the brazilian economy with the ouster of planning minister joao sayad is further reason to worry
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
its going to come sooner than anyone thinks anderson told reporters after addressing a houston business lunch
metropolitan monyo to make offer for metex
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
general electric ge unit redeems notes
some shipping restrictions remain on rhine
the combined impact of costly sales incentives and foreign exchange adjustments on margins was substantial varity said
all indications are they will take effect he said
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
demand for the issue was lively from uk and overseas sources with particular interest seen from japan
but the bank nearly trebled the amount set aside against bad and doubtful loans to 60 mln riyals from 22 mln in 1985
im not in favor of sales to iran of advanced us technology shultz said
mcandrews and forbes said it informed the board of directors of revlon that it expects to make a formal proposal in the near future
the statement said the tensions in the area had reached a serious level and called on both countries to begin immediate discussions
export quotas were suspended in february 1986 when market prices surged after a drought devastated brazils coffee crop
the bond matures on may 6 1992
drs said the deal is subject to approval by the rospatch board and the tender offer expires on march 6 1986
hernandez spoke today at the opening of the fifth ministerial meeting of the informal group of latin american and caribbean oil exporters formed in 1983
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 
reynolds metals to restart idle potline
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
the notes are priced at par or 1000 dlrs each
standards capital spending totaled 177 billion dlrs in 1986
the government should instead seek ways of making the best use of its fiscal policy he told a press conference
verac had 1986 sales of about 23 mln dlrs
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
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
the oregon plant owned by fujitsu subsidiary fujitsu america inc now makes magnetic computer discs and will soon make printers
avalon avl stake sold by deltec
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
taiwan to relax import curbs on more goods
proprietary school sales totaled about 56 mln dlrs and accounted for less than 10 pct of jostens total revenue it added
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
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
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
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
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
reichhold chemicals inc said its reichhold ltd subsidiary has raised prices seven us cent per pound on powdered phenolic waferboard resins effective july 1 due to sharp increases in the cost of phenol
recent sugar fall sparks soviet chinese buying
it said owens illinois will be merged into a subsidiary of oii holdings on march 24
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
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
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
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
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
japan brokers seek 10 year government bond auction
low interest rates also helped the bank
turnover 182 billion dlrs vs 183 billion
us leading indicators fell 10 pct in jan after revised 23 pct dec rise
industrial investment is expected to rise by 43 pct this year and 55 pct in 1988 down from 65 pct in 1986
the bank rate is set one quarter percentage point above the average yield on the weekly issue of 91 day treasury bills
fed not expected to take money market action
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
most independent forecasters including the imf believe that growth in calendar 1987 will be below three pct monetary sources said
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
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
shr seven cts vs one ct net 178919 vs 34429 revs 3148420 vs 1912438
this made possible the talks with commercial banks
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 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
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
revenues declined to 7202 mln dlrs from 7936 mln dlrs
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
status game corp stgm 3rd qtr feb 28 net
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
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
another frustration has been britains failure to lend the ems political support by keeping the pound still a major world currency outside the system
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
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
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
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
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
cycare systems inc cycr buys medtec
shr 86 cts vs 79 cts net 4042000 vs 3549000 revs 597 mln vs 473 mln
the companys shares were quoted at 372p at 0915 gmt compared with 364p last night
shr 47 cts vs not given net 2100000 vs 1277000 note company went public in fourth quarter of 1986
it has not been proposed formally and no details were given
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
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
guardian trustco inc 4th qtr net
if the application is approved twa could buy up to 10 pct it said
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
they estimated the cost of repairing a damaged oil pipeline at 150 mln dlrs
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
recent examples were the rise in the financial rand and the sharp increase in foreign exchange reserves
a bdding war to 50 or 60 dlrs a share is stretching it
1st qtr shr seven cts vs nine cts net 166000 vs 201000 revs 801000 vs 687000
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
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
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
talks with the shipowners association syndarma have been deadlocked over overtime
the firm produced 1863 tonnes of nickel in the first two months of 1986 compared with 2364 tonnes in the same period in 1985
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
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
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
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
stoltenberg noted that in 1986 bonns exports fell by a nominal two pct while its nominal imports fell by 107 pct
emhart corp emh set to increase earnings
overproduction by opec will become a real problem in the fourth quarter when the quota is raised to 183 mln barrels a day and iraqs pipeline through turkey brings another 500000 barrels to the market each day said john lichtblau president of petroleum industry ressearch foundation
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
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
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
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
fees for the issue total 13 32 and payment date is march 25
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
citic to issue 30 billion yen bond in tokyo
union bank of switzerland will act as dealer for a specific program which is aimed at smaller retail investors
m 3 fell to 7798 billion rand in january from 7931 billion in december while preliminary february figures show m 3 at 7942 billion rand for a year on year rise of 1063 pct
many bond traders in tokyo are doubtful that sterling will further appreciate steeply
washington federal savings wfsl 2nd qtr net
the finance ministry had forecast a rise of 03 pct in 1986
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
dansk naturgas issues 10 billion yen eurobond
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
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
most producing nations have just completed or are about to complete their annual harvests and exportable supplies are at their seasonal peak
the banks exposure in latin america was less than two pct of its total foreign credit and in africa less than one pct
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
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
trump said the shares he has agreed already to buy represent a 78 pct interest in the class b stock
proposed offerings recently filed with the sec
worse how are european community sales to japan rising rapidly when the european currency unit has until now declined only 11 pct against the yen last weeks g 7 meeting in washington has been widely interpreted as a sign from the policy makers that the dollar must go lower
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
alitalia spa azpimi calendar 1986
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
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
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
chemlawn chem in talks on being acquired
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
gilberto arango president of the exporters association said in an interview that colombia the worlds second largest producer was in a position to withstand a prolonged absence of international coffee organization ico export quotas
as a result of the loss the company said it has decided to discontinue the operations of its big value outlets division which will result in a yet undisclosed one time charge against earnings for the year
frost and sullivan inc frslo 3rd qtr
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
other members of the board are chairman don friedkin president and chief executive officer mark fukuhara and jay watnick ira goldstein thurman sasser and michael clinger
it was commenting on figures for 1986 which showed pretax profits rising to 546 mln from 465 mln previously
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
year to date it estimated domestic car output at 2334528 down from 2442221 in the same 1986 period
reagan says us must do more to lessen reliance on foreign oil
tanzania raises fuel pricestaxes in 1987 8 budget
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
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
seaman furniture seam in stock split
salomon raises size of cmo to 350 mln dlrs
the index is based on 10 indicators which include export values letters of credit received warehouse stocks m 1 and m 3 money supply figures and the composite stock exchange index
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
the transaction is expected to close on april 1 1987 the company said
the stoppage has delayed exports at a time when brazil desperately needs foreign exchange
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
chemlawn corp said its board rejected waste management incs 27 dlr per share tender offer and urged its shareholders not to tender their shares
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
it said about 13 cts per share of the first quarter amount will be taxable income
fesharaki leader of the energy program at the east west center in honolulu hawaii was speaking on the asia pacific petroleum outlook
ayer bought the other 49 pct next year
robert bruce industries inc bruca year loss
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
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
us banker predicts further dollar fall this year
the other two companies were not immediately available for comment
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
yeutter almost sure japan will not retaliate
seasonally adjusted retail sales rose by 01 pct in january compared with increases of 57 pct in december and 10 pct a year earlier the statistics department said
telebyte technology inc tbti year
a company spokesman said this represented additional provisions for the cost of rationalisation plans announced in earlier years
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
the statement said applicants for over 5000 shares will receive 30
rabobank stopped trading in the bond five minutes after the bourse opened but already between 200 and 300 mln guilders worth had been sold a rabobank spokesman said
hong kong banks leave interest rates unchanged
in the year beginning april 1 nec will boost chip imports which comprised some 20 pct of all nec chip consumption the year before
but on march 11 the fed also was rumored to have signalled displeasure with a dollar surge above 187 marks
he said guyana took its problems in january to the caribbean group for cooperation and development which includes governments and multilateral agencies with a view to finding a long term recovery plan
mobil oil corp of us plans to open an office in peking to develop oil exploration opportunities in china the china daily said
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
gross national product measures the output of a countrys goods and services
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
roberts said the att long distance rate reductions which had been ordered by the federal communications commission have had a significantly negative impact on our profits as reported earlier today mci said it plans to ask the fcc to immediately deregulate att apparently in hopes that an unregulated att would pocket a greater proportion of its revenues rather than cut rates further
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
subscriptions close april 14 and payment date is april 16
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
plasti line inc signo 1st qtr net
referring to brazils recent interest payments moratorium conable also said the global debt situation was very serious and must be closely watched
bellsouth corp bls 3rd qtr net
metropolitan owns 21 pct of metex common stock the company 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
quarter net includes gains from sale of aircraft of two mln dlrs vs 6200000 dlrs
southam to sell 49 pct interest in brandon sun
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
plant diseases and insect pests have increased in wheat producing areas it said
the area planted to cotton is to remain at the 1986 level of 100000 to 112500 acres with exports expected to bring in 80 to 90 mln dlrs per year
when the ibc opened may registrations from yesterday it did not set any volume limit
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
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
the central bank said it will offer offer 250 mln rupees worth of three month treasury bills in a tender closing on june 4
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
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
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
us tropical oil labeling plan suffers defeat
the previous record was set in 1982 when fiji produced 486790 tonnes
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
southmark sm sells national heritage stake
grocery store food prices were up 04 pct the same as in january but meat poultry fish and eggs cost less for a third consecutive month the department said
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
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
reed intl denies bid approach
and while many manufacturing firms turned to financial market investments for profits during last years economic downturn the recent rebound has allowed them to refocus their attention on their core businesses he said
the us agriculture department made the following revisions for 1986 crop summer potatoes production 21003000 cwt 100 lbs vs 20900000 cwt estimated previously
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
however analysts noted that the turnabout in market sentiment still looks highly vulnerable to political news
shr 52 cts vs 41 cts net 4921601 vs 3157070 revs 358 mln vs 317 mln avg shrs 8939955 vs 7600000 nine mths shr 52 cts vs 34 cts net 4604406 vs 2585621 revs 360 mln vs 321 mln avg shrs 8939955 vs 7600000
qtly div 31 cts vs 31 cts prior payable april 22 record april three
ecuador negotiates with nigeria for lending oil
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
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
amoco canada is a unit of amoco corp an which has made a 52 billion dlr acquisition offer for dome
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 french franc eased to 30055 marks per 100 after 30060 belgian franc was little changed at 4829 marks per 100
rain patterns will move across indiana to ohio with thudershower activity yielding to more general rains he said
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
the following rainfall was recorded in the areas over the past 24 hours parana state umuarama nil paranavai nil londrina nil maringa nil
wall street market analysts said two changes in the components of the dow jones industrial average were part of a shift away from smokestack industries that have long dominated the 30 stock index
study shows only limited optimism for silver
sao paulo state presidente prudente o6 mm votuporanga 120 mm franca 280 mm catanduva 100 mm sao carlos nil sao simao nil
it had remained unchanged at 67 pct for three straight months before the march decline
thunander corp thdr year net
the state owned copper company of chile codelco produces around 90 pct of the countrys copper output of some one mln tonnes per year
the 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
the tin research proposal would be presented at an atpc meeting to be held in kuala lumpur in september
the quake triggered landslides swelling the aguarico river which burst it banks carrying away homes and huts in napo province health minister jorge brancho told 
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
tcf banking and savings fa said it is raising its prime rate to 7 3 4 pct from 7 1 2 pct effective today
lorimar telepictures corp said it accepted resignations of three executives at karl lorimar home video its wholly owned subsidiary
entourage entg has first quarter loss
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
based on past relationships that gain is consistent with stepped up growth in real gnp during the first half of 1987 baldrige said
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
fujitsu ltd itsut may assemble computers in oregon for sale in the united states under the fujitsu brand name a company spokesman said
the five year bond pays 14 1 4 pct and was priced at 101 7 8 pct
imports decreased 700 mln dlrs in the final quarter in contrast to an increase of 209 billion dlrs in the third quarter
deutsche bank finance unit has australian dlr bond
integrated resources inc ire 4th qtr net
lennar said the debentures will continue to be traded over the counter
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
australian broad money growth 103 pct in february
in contrast the last railway issue in january totalled 11 billion marks of which 900 mln was distributed for immediate sale
the yield on the bills for sales to banks and securities houses from money houses will be 39496 pct against the 39375 pct discount rate for two month commercial bills and the 446 37 pct yield today on two month certificates of deposit
the 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
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
japan buys 5000 tonnes canadian rapeseed
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
this mornings announcement sent the dollar into a tailspin which was halted only by concerted central bank intervention in the open currency market
liquid air corp lana quarterly dividend
west german president richard von weizsaecker called on creditor banks to ease pressure on argentinas foreign debt repayment terms
1987 year also includes charge 128 mln dlrs from discontinued operations
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
the us figure should be closer to ours he said
continental general insurance cgic 4th qtr net
the international cocoa organization icco buffer stock working group meeting set for 1130 gmt today was rescheduled for 1430 icco delegates said
shr profit eight cts vs loss 184 dlrs net profit 785000 vs loss 4279000 revs 104 mln vs 8464000 avg shrs 9649000 vs 2664000 six mths shr loss nine cts vs loss 409 dlrs net loss 262000 vs loss 9689000 revs 192 mln vs 156 mln avg shrs 2874000 vs 2660000
qtly div five cts pay april 1 record march 27
wilshire woc chief named to jacobs jec board
the issue was increased from an initial offering of 75 mln dlrs
rising taiwan dollar causes foreign reserves loss
concerning the 14th while entry may not be possible at the orange county airport in the near future dot found that the service provided at other airports in the los angeles area especially at the los angeles international airport will provide effective competition for orange county travelers in long haul markets the dot said
the fixed rate mortgages on offer carry interest rates even below those on the variable rate loans
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
denominations are of 1000 and 10000 canadian dlrs and listing is in luxembourg
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
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
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
but dealers said the bundesbank was unlikely to ease credit policies at the moment
it said the name change should take effect next week along with a nasdaq ticker symbol change to alfao
effective net annualized compound yield on the bills is 919 pct against 924 pct at the end march auction
in addition commercial paper accounts for around five billion markka and treasury bills two billion
rothmans close to joint venture in china
reynold metals rlm up on furman selz report
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
he said domestic demand growth will be due to a strengthening in real household disposable income
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
five groups apply to buy french telephone group
singapore external trade gains 88 pct in quarter
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
commercial paper outstanding nationally dropped 13 mln dlrs to 33602 billion
shr loss six cts vs loss 84 cts net loss 219632 vs loss 163 mln revs 14 mln vs 28 mln note1985 net includes 155 mln dlrs of writedowns and tax benefit of 51294
after damage to its maize crop last year the soviet union plans to expand this area by as much as 50 pct to over six mln hectares in a year when many frost damaged wheat fields are likely to be resown to this and other spring crops
economist in the west german ministry of agriculture and delegate to cocoa wheat and sugar agreements peter baron told in london agreements with economic clauses to stabilise prices could function if fixed price ranges were close to market reality if there was full participation by producers and consumers and if participants were prepared to take their obligations in the framework of the agreement seriously but baron added no real sanctions are available for a country that doesnt stick to its obligations the german approach is sceptical
st lawrence seaway opening still march 31
hawker siddeley group plc s offer of 74 dlrs a share for all of clarostat mfg co incs stock was scheduled to expire at 2400 est yesterday
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
however top ldp executives will work out figures so that abe will be able to offer specifics to us officials
mead said its first quarter benefitted from stronger market conditions and improved operations
proposed japan tax may dampen tokyo gold trading
kowloon electricity supply co ltd a joint venture of china light and power co ltd clphhk and exxon corp xon has renewed and increased an existing commercial paper program arranger schroders asia ltd said
the investors said about 132000 shares or about 20 pct of the outstanding had been tendered
the companys life insurance result fell to 3657 mln guilders aft interrupted
listing will be on all eight west german stock exchanges
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
singapore welcomed the london metal exchanges lme decision to list singapore as a delivery point for the lmes new dollar denominated aluminium contract
the other envisaged pechiney putting together a consortium of european partners to set up a packaging and equipment manufacturing unit in the soviet union
rostenkowski opposes protectionist trade bill
this bloc represented enough votes among consuming nations to successfully prevent adoption of the producer proposals
for the six months ended february 28 beebas reported net income of 12 mln dlrs on sales of 394 mln dlrs
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
westport bancorp webato 3rd qtr net
the nearby april requirement for red beans will rise to 100000 yen from 60000 effective march 2
but he added the possibility remained the deal would fall through
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
the stockholders according to a statement have organized a steering committee
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
this transaction makes use of another sector of the capital markets that for short term note facilities to finance a medium term credit
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
fisher said 5300 also told it they will continue to explore possible advantages and disadvantages of various acquisition proposals
bankers protective is a life insurance company based in texas
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
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
sales last year stood at 53254 schutz said
kuwait rejects iranian spy boat charges
japan february money supply rises 88 pct
he told a news conference ahead of the imf talks that discussions about developing country debt problems would play an important role on the agenda in washington
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
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
the non transferable notes pay interest at an annual rate of 675 pct
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
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
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
it added that the notes will not be subject to redemption for one year after they are issued
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
as an example they quoted wheat export volume which rose about 30 pct in february after dropping as much in january
kodak ek buys stake in enzon enzn 
media general said the moves should broaden investor interest in its class a stock
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 malaysian rubber futures market freighting and contracts for rubber are among other issues expected to be discussed
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
us japan not in trade war yeutter says
in the paris currency accord japan promised a package of economic measures after the fiscal 1987 budget was passed to boost domestic demand increase imports and thus reduce its trade surplus
the guarantee line for sales of frozen poultry has been increased from 300 mln dlrs to 560 mln dlrs usda said
klm denies press report of air atlanta takeover
the government has predicted that inflation this year would be lower than in 1986 when it reached 209 pct
lawson says some countries could cut rates
dumez investments i inc said 947 pct of westburne international industries ltds outstanding common shares have been deposited under its takeover bid
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
this compares with the previous januarys 139 pct
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
the department said the merchandise trade deficit for all of 1986 grew to 1477 billion from 1244 billion dlrs in 1985
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
singapore gdp to grow six pct in first quarter
factory stocks at end january were 305 mln tonnes 96000 imported against 313 mln 96000 imported a year earlier
the federal reserve is expected to intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements economists said
dairy cattle reported for export under the program for the period april 1 through march 27 totaled an estimated 55055 head the department said
witco corp wit offers debentures
fleet financial has a 1 senior debt and preferred stock a 2 subordinated debt and provisional a 1 shelf registered securities
it said the acquisition will increase shareholder equity in american aircraft to 45 cts per share from 18 cts per share
treasurys mulford sees brazil lending progress
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 
i think there is room for negotiations and i would not want to make any predictions at this stage de keersmaeker said
saft a unit of cie generale delectricite of france said it bought uk based alcad ltd from penn central corps marathon manufacturing cos inc
some traders here said the total could be more
the usda estimated disappearance last year at 67 billion bushels
porex technologies corp said its board declared an initial annual dividend of 10 cts per share its first payout payable march 26 to holders of record march 12
us government and industry officials have complained repeatedly that japanese chipmakers continue to sell at below cost to third countries despite the july agreement
he said there were signs of movement on the case
corrected micropro international corp mpro net
non callable to maturity the issue is rated a 1 by moodys investors service inc and a plus by standard and poors corp
other prime rates range from 1825 to 185 pct with the majority on 1825
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
damson oil dam converts mortgage bonds
in june 1986 sosnoff requested a seat on the caesars world board a request that has not yet been granted
lebanese pound falls sharply against dollar
a megalitre is 6290 barrels
sumitomo bank of california said it declared a 7 1 2 pct stock dividend in addition to its regular quarterly cash dividend of 29 cts per share
andersen group inc andro 1st qtr may 31
the strategy for increasing irrigation potential along with greater use of high yielding seed varieites and improvement in fertiliser efficiency is yielding results it said adding total foodgrain output in 1985 86 1984 85 and 1983 84 respectively was 1505 mln tonnes 1455 mln and a record 1524 mln
the pipeline runs over the red river and under the subsoil nearby according to stevens
i believe that policy was right haughey said
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
the officials disclosed these plans in releasing the third annual omb report to congress on management of the us government
water sports network buys debt from ntn
petronas said in february that malaysia would maintain its 10 pct production cutback until mid 1987
they added that they themselves do not feel any need for a cut at all
sarney told the meeting an austerity plan to trim government spending would be introduced
final 1986 crop us cotton ginnings
shr seven cts vs one ct net 178919 vs 34429 sales 3148420 vs 1912438
japan security pacific has assets of 200 mln dlrs
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
oak industries said it signed a definitive agreement to buy the stock of rexnord incs railway maintenance equipment co unit for an undisclosed sum
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
japanese groups urge drastic economic package
usda estimates china wheat
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
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
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
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
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
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
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 african development bank adb said it increased its lending by 421 pct last year to 164 billion dlrs from 115 billion dlrs in 1985
we have run this alternative proposal to the accounting firms
us corporate finance novel gmac financing
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
bp bp does not plan to hike standard srd bid
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
rep
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
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
japan sees marginal rise in edible oil demand
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
paper will be issued in denominations of 500000 dlrs and will have maturities between seven and 365 days
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
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
us retail sales rose sharply in february but many economists said the underlying consumer spending trend remains weak
this helped increase marketable supplies so farm level corn prices averaged about two dlrs per bushel somewhat lower than they would have otherwise
consumer prices could be raised or lowered by a regulatory amount when market prices are below or above this level
but he said no agreements had yet been finalised under the new joint venture laws
pubco corp said its board declared a dividend distribution of one common stock purchase right on each outstanding share of pubcos common stock
dcny said the dividend is payable april 15 1987 to shareholders of record april 1 1987
federal securities law requires that all tender offers remain open for at least 20 business days
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
fifth third fitbo to merge with c and h
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
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
the underwritten portion allows cds to be issued in tenures of one three and six months
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
liabilities to foreigners reported by us banks rose 353 billion dlrs between october and december after increasing 301 billion dlrs in the third quarter
dealers said the worsening trade relations between the us and japan will continue to depress the dollar
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
usair group inc u sets quarterly
it said the securities are available in denominations of 5000 dlrs for a term of slightly less than five years
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
security pacific corp said it filed a registration statement with the securities and exchange commission covering 500 mln dlrs of subordinated debt securities
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
esselte business esb unit buys antonson unit
us shareholders will be restricted to the right to receive 1180 canadian dlrs cash per share which will be paid in us funds the company said
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
but freer use of the yen could encourage more trade settlements in the japanese currency he said
the compounding ratio rose to 22 pct from 21 pct
the fall brought the rate to 914 pct was the lowest since december 1977 it said
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
company became public feb 14 1986
it also controls caesars new jersey inc cjn which owns an atlantic city nj casino hotel
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
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
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
he said the explosion and fire in which one worker was killed occurred when the hydrocracker was not in operation
but a decline in military capital goods will cap total new orders
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
diplomat electronics dpec to cut costs
winter wheat fair to good condition
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
aramcos only refinery at ras tannurah processed 14244 mln barrels 390246 bpd of crude last year
may ma wont buy allieds dey brothers stores
the company said the dividend is payable april 10 to holders of record march 31
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
fi tek corp to make acquisition
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
without brisk consumer spending japan can hardly achieve domestically generated economic growth as the government has put a lid on fiscal measures he said
the long term capital account deficit widened to 1140 billion dlrs from 806 billion a year ago but it narrowed from 1232 billion in january the ministry said
the company said completion is expected in the second quarter
the bank said the bonds would yield 928 pct at the issue price and would be free of tax to residents overseas
moscow says will retaliate against gulf attacks
the new price for high grade zinc is 37 us cts and 49 1 2 canadian cts a pound the company said
premdor plans two for one stock split
fees total two pct with 1 1 4 pct for selling and 3 8 pct each for management and underwriting
low risk securities carrying a zero rating would include public authority bonds for the federal government states and municipalities the sources said
masco corp mas holding 44 pct of emco has agreed to purchase 330 mln dlrs of the debentures
madagascars cocoa production is estimated 13 pct higher this year at 2720 tonnes up from 2400 in 1986 agriculture ministry officials said
the company said the redemption price is 1080 dlrs per 1000 dlrs of principal amount of debentures plus accrued interest from feb one 1987 to april 10 1987
rich hodges a houston based land manager representing international oil and gas corp a partnership of preussag corp and c
growth of palm oil use set to slow output to rise
it wants to remain independent he said and has implemented a staggered board of directors system
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
it is not callable for three years unless the conversion price exceeds the stock price by 130 pct
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
it projected the 1985 86 crop at 730 mln tonnes vs 730 mln last month
uniforce temporary personnel inc said it declared a three for two stock split payable may 15 to stockholders of record april 14
uk money market given 689 mln stg early help
montedison acquires arco research unit
energen corp said it has acquired the distribution system of the city of clanton ala
if all participation share warrants are exercised the company will obtain some 300 mln marks in new equity
taiwan plans another round of deep tariff cuts this year to help narrow its trade surplus with the us a senior economic planner said
traders expect sharp drop in us corn acreage
the co leads are privatbanken a s and generale bank brussels
japan cabinet approves bill on gold coin issues
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
arbitragers speculate that gaf will not give up easily on its 316 billion dlr offer to buy the balance of borg warner
oii said it is anticipated that the securities will be traded in the over the counter market
the prospect of so many cattle remaining on feed for a longer time blunted the market impact of the high placements reported in the usdas latest cattle on feed report livestock analysts said
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
np further said the nielsen 1 20 well in duchesne county utah has tested 300 barrels of oil per day
readers digest association sells unit
betz laboratories inc betz sets quarterly
progress in iran loan talks french official says
the rise was led by price gains for papers pharmaceuticals and petroleum and coal products
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
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
this issue is rated b 2 by moodys and b minus by standard and poors
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
the managing director of the international monetary fund also participated in the meeting
my primary desire is still to sit down with management to negotiate a friendly acquisition he said
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
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
in january taiwan reduced import tariffs of up to 50 pct on some 1700 foreign products
southmark said it received the rights on april 6 as the holder of about 84 pct of american realty trusts outstanding shares
mexico and canada along with the european community brought the dispute to the gatt last year
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
fed data suggest no change in monetary policy
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
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
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
period ended september 30
the bond for westlb finance nv is guaranteed by the parent
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
the money must come either through equity or debt and baker said developing nations investment regimes do not support enough equity investment so youve got to have some debt there
the 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
the company said it discovered problems in its units computerized accounts payable system
1986 revenues include revenues for the last eight months of beckett aviation acquired in september of 1985
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
to me it seems bizarre just bizarre the official said
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
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
under the previous agreement banks were only given options for three year loans
the resolution supports negotiation of a bilateral trading agreement with the united states while protecting canadian political sovereignty social programs agricultural marketing systems the auto industry and canadas cultural identity
hudson foods hfi to make acquisition
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
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
the final amount of the issue depends on market conditions but will likely be close to 400 mln dlrs the spokesman said
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
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
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
shr loss 26 cts vs loss 12 cts net loss 289649 vs loss 138372 revs 5944286 vs 5902074
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
sri lankan government to stop importing sugar
the figures are unreservedly good chase manhattan securities economist andrew wroblewski said
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
werner chrobok managing partner at bethmann bank said he hoped the two men would soon be of one opinion again
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
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
the commodity credit corportion ccc has accepted a bid for an export bonus to cover the sale of 15000 tonnes of us wheat to west african countries the us agriculture department said
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
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
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
company corrects current year sales
specifically general partners said it was prepared to discuss an acquisition giving shareholders a continuing interest in aerojet general a valued business of gencorp
baker said it would be necessary for other countries to adjust their currencies upwards as well as remove their barriers to us imports
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
were not looking for a partner and if we were it certainly wouldnt be these guys northair said
cbt traders look ahead to spring plantings
budget pact cuts us farm funds 125 billion dlrs
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 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
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
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
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
it also has a loan center in new hampshire
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
triton will become a subsidiary of messidor it said
last year the domestic industry earned a total of 13 billion dlrs a 54 pct leap from 1985
in a statement the company said they had received offers of up to 68 pct of the rights and that they would accept all
fed expected to supply temporary reserves
na not available usda revising price definition due to marketing loan
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
mthly div six cts vs six cts prior pay march 13 record march two
bankers see little chance for a substantive recovery in bolivias economic fortunes and so are willing to collect what they can on the loans
wormald to acquire stake in holmes protection
joseph light and power corp said its board declared a three for two stock split and raised the quarterly dividend on presplit shares to 49 cts per share from 47 cts
he said ecuador was negotiating a shipments schedule and the terms of repaying the loan
western digital corp said it intends to call for redemption on april six all of its outstanding 6 3 4 pct convertible subordinated debentures due 2011
the eurofranc issuing committee which groups major french banks and the treasury has approved three bonds for issue in april bond market sources said
previous tenders over the last month by interest rate have seen the allocation rate on these facilities rise to 385 pct at last weeks pact from 360 on the last fixed rate tender in late september
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
duties of 854 pct had been set last october
aluminum exports meanwhile decreased nine pct in the same period to 1511 tonnes from 1647 tonnes
we are seeing the program beginning to work said meyer
krupp gmbh said its krupp industrietechnik gmbh subsidiary has won a 130 mln marks joint order with samsung shipbuilding and heavy industries co
baldrige to launch far east trade drive
revenues on continuing operations rose to 1021 mln dlrs from 15 mln dlrs last year which did not include daily telegraph revenues he added
us february reports reflecting slim gains in industrial output and moderating inflation pressures reinforced expectations that the federal reserve will continue to follow a stable course of monetary policy economists said
volcker warns against sizeable dlr decline
chemlawn with about two mln customers is the largest us company involved in application of fertilizers pesticides and herbicides on lawns
canadas move to shorten debt terms aids market
outgoing united states ambassador stephen bosworth told a news conference he did not think the philippines would follow brazils example and suspend interest payments on foreign loans from commercial banks
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
reynolds said that winchester introduced in 1971 was a dominant brand in the little cigar market
stoltenberg told a news conference given west germanys unusually high dependence on world trade and exports it is vital for west germany to continue its constructive contribution to trusting international cooperation on the basis of the louvre accord some monetary analysts have speculated that inflation conscious bundesbank vice president helmut schlesinger may have been leading the central bank to a course of tighter monetary policy
rorer group inc ror 1st qtr net
the 1986 net loss was on a pro forma basis newmont said
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
maybe 45 dlrs a share tops he said
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
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
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
papandreou shows restricted optimism over crisis
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
marcor development co inc said it expects to post a profit for its fiscal year ended february 28 of about two mln dlrs compared to a year earlier loss of 32 mln dlrs
cargill uk strike talks postponed till monday
new zealand imposes sanctions against fiji
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
coconut oil contract to change dutch traders
bush industries inc said it expects higher earnings and sales for 1987 partly due to efficiencies in manufacturing that have improved its margins
the talks now in their second week are aimed at stretching out repayments of 36 billion dlrs of debt and granting easier terms on 58 billion of already rescheduled debt
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
it said it is seeking to arrange the balance of about 255 mln dlrs necessary to complete the offer
it put the 1985 86 crop at 1390 mln tonnes vs 1370 mln last month
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 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
tokyo bank of japan buys small amount of dollars dealers said
american software inc amswa 3rd qtr jan 31 net
the situation has again raised the question of whether intervention can succeed against the trend in todays huge currency markets
natl computer nlcso to buy data card stake
fortune systems corp said its shareholders approved the sale of its computer hardware business to sci technologies inc
brazil on february 20 suspended interest payments on 68 billion dlrs of its debts to commercial banks
austmet has recruited a group of base metal traders currently operating out of britain and the us who have handled asturianas business for the past five years it said
hydro quebec canadian dlr bond raised to 150 mln
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
intercare also said it increased its reserve against accounts receivable
key us house panel finishes major trade bill
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
output fell 05 pct in january from a month earlier
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
i think steel prices on a bookings basis will start to drop by the summer he said
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
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
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
first farwest corp ffws 4th qtr loss
loans from marine midland are secured by substantially all company assets
iraq says it hit ship in gulf off iran today
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
earlier the bank revised its forecast of the liquidity position in the system today to a surplus of 150 mln stg from its original estimate of a flat position
some analysts said icahn may be trying to acquire usair to make his own airline a more attractive takeover target
dome announced its plan to 56 major creditors as well as public noteholders in march after several months of delicate negotiations
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
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
calny inc rejects pepsico inc acquisition offer
research and development will cost four pct of net sales and training two pct
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
at 233 dlrs cif the sugar sold this week was at a discount of up to 10 dlrs to current prices some traders said
detroit edison dte half completes power test
fpl group inc fpl 3rd qtr net
the non callable bond is available in denominations of 1000 and 10000 canadian dlrs and will be listed in luxembourg
we are going to go on but at 16 18 dlrs there will be no massive upturn he 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
a 0 92 plan does not go far enough in decoupling johnson said and would still encourage farmers to plant
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
holden brown said allied lyons plans to list its shares on canadian stock exchanges possibly later this year
novo industri earnings fall despite increased sales
it said the purchase price was 1250000 dlrs which was paid by cash and stock
the female unemployment rate in may was unchanged from april at a record 31 pct
the credit guarantees were previously earmarked for sales of us cotton feedgrains and wheat
morgan crucible pretax profit rises 61 mln stg
nippon kokan steel affiliates considering merger
parts of the service sector are also threatened otsuki said
along with other leading industrial countries west germany agreed to a package of measures at a meeting in paris in february aimed at stemming the fall of the dollar
monday after texaco confirmed that the pipeline had been closed west texas intermediate crude in the spot market and on new york mercantile exchanges energy futures complex rose 20 cts a barrel
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 company said it completed the previously announced sale of heublein for 12 billion dlrs in cash today
us senate team wants multinational gulf force
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 cato institute of washington and the fraser institute of vancouver said removing the remaining tariffs on cross border trade would benefit both countries
rlr securities group inc will underwrite the offering
dealers forecast tax payments of 25 and 30 billion marks but much of it is expected to burden the system only next week
bhp acquired utah from general electric co ge in 1984
a japanese refiner said the european and us markets are beginning to look better so opec might be quite lucky
the suggestions by federation of economic organisations official fumio watanabe was a formal announcement of proposals made earlier this week and reported in the japanese press
philadelphia exchange to extend hours for asia
shadowfax resources ltd said it set a normal course issuer bid to acquire for cancellation up to five pct of its three mln outstanding common shares on the open market on the alberta stock exchange subject to regulatory approvals
the assessments are used to fund workers benefits
k mart corp said its board approved a 176 pct increase in the quarterly dividend and declared a three for two stock split
a 7 1 2 basis point participation fee is payable on the transaction which started syndication this week
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
shipments from smelters plants declined to 23560 short tons in february from 24564 short tons in january
the measure of private sector liquidity psl2 fell 02 pct in january but after seasonal adjustment rose 06 pct the bank 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
it said subsequent quarters should show substantial improvement from first quarter levels but 1987 earnings will not reach 1986 levels as long as those conditions continue
congress is understandably nervous
m a com mai expands buyback names president
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
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
the act is now awaiting parliamentary ratification
the finance ministry auctioned 280 billion yen of four year government notes the first auction of fiscal 1987 which started on april 1
baldrige supports nic talks on currencies
shell australia reports 4579 mln dlr 1986 profit
the treasury spokesman pointed out that todays talks had been at funaros request
above target bankers balances would add 10 mln
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
a shareholder vote on the buyout offer is scheduled for june four
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
manila government to take over san miguel board
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
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
in 1986 it said restructuring helped improve its financial capabilities
finnish economic growth put at three pct in 1987
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
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
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
uk reserves show large underlying rise in march
shr 32 cts vs 28 cts net 2194000 vs 1929000
net includes writedown of oil and gas assets of 1248 mln dlrs for 11 mths to comply with full cost accounting methods
the historical cross rates for sterling and the mark tell much the same story
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
ecuador has an opec quota of 210000 bpd
both boards have approved the merger
the new south wales treasury corporation is issuing a 100 mln australian dlr eurobond due may 27 1992 paying 14 1 4 pct and priced at 101 7 8 pct lead manager county natwest capital markets said
endaka the strong yen has usurped godzilla versus the sea monster as japans favourite horror story
selling pressure was strong from securities houses and institutional investors in hectic and nervous trading on underlying bearish sentiment for the dollar they said
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
ford raises qtly payout 10 cts shr to 75 cts
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
pesch said he did not discuss a joint takeover proposal with the bass family
s p may downgrade caesars world caw debt
the group said the sale which represented all the burlington options it owned was made may 28 for 87 mln dlrs
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
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
shr 26 cts vs nil net 2244000 vs nil rev 34 mln vs nil note companys full name is universal health realty income trust
under the accord taiwans textile export growth was limited to 05 pct each year until 1988
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
the bonus was awarded to the pillsbury company and will be paid in the form of commodities from ccc stocks
upi president resigns after five months
administration officials saying the lease sales were preceded by an intense environmental impact study denied that the oil and gas exploration would hurt subsistence resources
don bonker chairman of the international economic policy subcommittee said the unnecessary restrictions had cost the us 17 billion dlrs in exports a year
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
richards is a privately owned new york based executive recruitment firm
the norcros boards detailed views will be sent to shareholders when the formal offer document has been issued by williams
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
lawson welcomes reaffirmation of louvre accord
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
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
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
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
burlington bur hearing to continue tomorrow
partnership cuts stake in erc international erc 
but japanese investors prefer entering into joint ventures with experienced us companies to explore for new oil
period ended april 30 was companys first quarter of operations
mtech corp mtch offering of 75 mln dlrs of convertible subordinated debentures due march 15 2012 through a group led by alex
the senate passed a two year extension of federal housing programs including 15 billion dlrs for lower income housing assistance over two years
the nigerians will go on to paris for similar bilateral talks tomorrow with coface the french export credit agency
the company said it will distribute the dividend on march 31
fees are 1 1 4 pct for selling and 3 8 pct each for management and underwriting including a 1 8 pct praecipuum
ford motor co ford motor credit may be raised by moodys affects 23 billion dlrs of debt
dealers said there is even talk that owners are considering taking older vessels out of lay up to meet current demand
woolowrth said as a result of the tender offer and options which it has exercised to purchase armel stock fww acquisiton corp a woolworth unit today expects to own about 9175 pct of amrels outstanding stock
four cargoes of raw sugar were sold to china yesterday via the london trade to supplement the countrys current nearby buying programme traders said
paris meet agreed not to publish bands lawson
the us government trying to stem protectionist pressure at home has called on south korea to open more markets to american goods and revalue the won faster
some 40 producing and consuming countries are taking part in the two week meeting
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
the leaders of a us senate team probing american defense strategy in the mideast gulf said they favored a multinational force to keep oil flowing through the waterway
crime control assets to be sold to hawley
irving bank v 1st qtr net hurt by brazil
in addition the company said it authorized another 800000 shares but would not issue them at this time
american motors directors met for five hours wednesday to review the takeover proposal
the trustee is chase manhattan bank na and the paying agency is chemical bank the company said
but the rains proved to be a great aid to soybean crops as their harvesting will not begin until april or may
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
for 1987 early indications point to a slightly positive growth rate not exceeding one pct
he said there was no oil spill but the ship is lodged on rocks opposite the hope creek nuclear power plant in new jersey
soviet west german trade is expected to develop favourably due to moscows increasing openness to east west economic relations dresdner bank ags moscow representative michael stein said
the post and telecommunications ministry has said it wants only one competitor to kdd and has backed watanabes efforts
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
for the nine months ended november 30 supermarkets reported net income of 417 mln dlrs
claims on the international monetary fund fell 219 mln francs to 1931 billion francs
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
an analyst familiar with the two mines said the properties together have a potential value of 20 dlrs to 40 dlrs a share for reynolds the analyst who asked not to be identified said the rise in the stock today was likely the result of us investors that were not completely cognizant of the size or the importance of the reynolds holdings in australia traders said the furman selz report indicates that gold was discovered mixed with bauxite in the boddington mine
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
qtly div 6 1 4 cts vs 6 1 4 cts prior pay june 19 record june 5
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
demand for steel castings and wheels for canadian railways continued to be very depressed with maintenance requirements at the lowest level in the past decade
this tendency was expected to continue this year especially in the construction and public works sectors
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
certs can cost the government more than cash primarily because recipients can use the certificates to pay back government loans at levels below the loan rate
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
webb investment properties or 89 pct of the total
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
taiwans foreign exchange reserves swollen by strong trade surpluses to a record 53 billion us dlrs are becoming a problem government officials said
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
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
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
balance sheet total 6150 billion marks vs 6367 billion
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
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 
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
ge credit says it will buy kraft incs d and k financial corp
the 1987 88 season for barley begins today
1986 net income was 8725 mln dlrs
nbd bancorp nbd regular dividend set
lieberman enterprises inc 3rd qtr feb 28 net
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
arland stangeland r minn is reported to have an amendment to expand the 0 92 provision to 1987 and 1988 feedgrains
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
it said holders of robert halmi common will exchange their shares on a two and one half for one basis for shares in the combined company
bayer usa bayry affiliates increased sales
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
it will be back on the table again and again the diplomat said
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
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
yeutter said the problem with international trade talks was that they tended to get bogged down for years
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
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
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 stock closed yesterday in composite tape trading at 9050 dlrs a share up two dlrs on the day
turkey was reported this week to have bought around 100000 tonnes of whites while india had further whites purchases of two to three cargoes for mar apr at near 227 dlrs a tonne cost and freight and could be seeking more
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
capitol bancorp said the cap mortgage interest was sold to michael m
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
chevron usa with more than 15000 chevron and gulf outlets nationwide predicted all of its independent dealers will elect to honor the cards
fed expected to add temporary reserves
network netw to take 3rd qtr charge
oxford financial inc said it acquired clancy systems international inc for an undisclosed sum
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
live hogs pushed ahead on a lack of supplies because many farmers are turning their attention to spring planting rather than marketing livestock traders said noting that cash sales have been lighter than expected this week
with that relationship growmark no longer needs to trade futures through the cooperative said tom mulligan president of the co op
1986 nine months net excludes gains from discontinued operations of 38 mln dlrs or 14 cts a gain from sale of discontinued operations of 285 mln dlrs or 106 dlrs and a charge from early repayment of debt of 58 mln dlrs or 22 cts
in february producer prices fell 03 pct from january and dropped 42 pct from their levels a year earlier
roach pointed out that stikers returning to work in farm equipment industries helped account for a one pct rise in february business equipment production
the acquisition which is subject to canadian government approval would be through amalgamation into a specially created company
the alternatives being explored include a restructuring leveraged buyout or a takeover of the company by another company conrac said
american physicians service amph 4th net
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
domtar inc dtc 3rd qtr net
qtly div 17 1 2 cts vs 17 1 2 cts prior pay june 5 record may 22
the dividend distribution will be made march 31 1987 payable to shareholders of record on that date
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
creditanstalt bankverein cabvv year 1986
expenditure was put at 679 billion pounds
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
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
us demand continued for all models but demand fell in other markets
american motors corp said it is studying a proposed merger with chrysler corp
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
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
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
payment date is april 24 and there will be a long first coupon
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
the warning was sent in a letter from sir roy denman head of the ec delegation in washington to dan rostenkowski chairman of the house ways and means committee
canadas wilson has no comment on dome dmp 
some analysts said the company should be bringing in new products but it is too soon to predict a significant turnaround
terms of the loan are being finalised and syndication is expected to begin in about one month dnc ltd said
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
yeutter said government and business moves are based on data from tariff schedules and the new system will improve knowledge of trade flows and the quality of decision making
it had gains of 813 mln dlrs in 1985
the us unit of nomura securities co ltd of japan acting as sole underwriter won a competitive issue in early december 1986
swiss banks meet churches over s
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
lilly industrial coatings inc licia in payout
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
the french finance ministry said the commission to be composed of businessmen was agreed during talks between foreign trade minister michel noir and yugoslavian minister without portfolio egon padovan
home federal savings rockies hroko 3rd qtr
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
ccl also said it agreed to exchange present and future technology with envases
nu med inc nums 3rd qtr jan 31 net
fed data released today were all in line with economists expectations and similar to the numbers of recent weeks
ccx network ccxn to make acquisition
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
the stock market was easier at midsession but brokers said the current account data had little impact on trading
payment date on the issue which will be listed in luxembourg is april 24 and the first coupon will be short
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
axlon inc said austin c
he said one reason for the devaluation was that hungary had a higher rate of inflation over the past two years than its main partners around eight pct in 1985 and between five and 55 pct in 1986 this was partly an after effect of action hungary took to prevent inflation from soaring during the oil price shocks of the 1970s he added
the 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
helene curtis industries inc hc 1st qtr net
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
the spokesman gave no date for the signing
afl cio president lane kirkland this year angered the administration in a statement that any trade bill reagan would sign would not be worth passage in congress
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
non oil imports totalled 279 billion dlrs compared with 191 billion in february last year reflecting the large ammount of investment goods entering the country with the recovery of the spanish economy the bank of spain said
once this is done time can be dedicated to working towards a new international sugar agreement isa with economic clauses he said
walker telecommunications corp wtel 4th qtr
belgian unemployment based on the number of jobless drawing unemployment benefit fell to 121 pct of the working population at the end of february from 126 pct at the end of january the national statistics office said
the executive committee is due to meet friday at 1100 gmt with the council unlikely to reconvene until late friday consumers said
new zealand economy forecast to improve in 1987 88
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
if the plan is accepted taft would be a private company financed by high yield bonds and bank debt nelson said
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
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
indonesias main crop is harvested next month
the won has risen 203 pct against the dollar so far this year after rising 334 pct in 1986
fluor corp said it won a contract with general electric to design construct and deliver modules for a methyl chloride process addition
they indicate that domestic demand has been a little more sluggish than was expected at budget time he said
the keidanren meeting coincided with a written request for drastic reflationary measures sent to the government by the japan chamber of commerce and industry
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 officials are meeting to finalise the agenda for the groups regional ministerial conference here saturday
people throughout china can now open foreign exchange accounts at the bank of china the official shenzhen economic zone daily said
the industry has curtailed production due to oversupply nearly every year since 1977 78 under cartel or transport ministry guidelines
chrysler did not reveal the name of the group that received the proceeds
haughey to seek ec advice on irish debt
australia has said it is not setting any export quota
in such a fundamental reform the test of the willingness of the government is how it confronts the domestic resource requirement arrivillaga said
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
vestar securities inc ves sets payout
avia stockholders seek to block sale to reebok
the bank said it lowered the rate with the largest impact on the money market as far as the exchange rate permitted
south carolina national corp scnco 3rd qtr
under german law disclosed provisions do not necessarily reflect the full amount of risk provisions
hutton is providing a 279 mln dlr bridge loan that would later be replaced with other debt
the company said its new posting for west texas intermediate crude is 19 dlrs a barrel
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
they said a premium of 50 basis points or more would have been more appropriate
but some dealers said the icco buffer stock rules may put constraints on how quickly and effectively the buffer stock manager can remove cocoa from the market
anyone nominated to replace volcker would have paled in the initial comparison hormats said
german steel subsidies cannot continue minister
fusco formerly was executive vice president of painewebber inc
analysts have said commerce bank was pressing dome to sell the stock to pay down its debt
emerson radio eme sells notes privately
acquisitions will continue to be sought worldwide including further moves in the speciality retailing business which rowntree first entered in 1983 the statement said
the sale completes hexcels plan to sell all its medical products businesses hexcel said
ecuador says it will pay debt when it can
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
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
all ticket and its subsidiaries will also co sponsor various events this year including the british open golf tournament and rowings henley regatta
it said a combined shareholders meeting will soon be held to vote on the acquisition
the quotas were implemented in 1977 at a time of heavy japanese foreign beef imports
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
it said the buyer has placed 250000 dlrs into an escrow account as a nonrefundable deposit
middle south utilities inc msu 3rd qtr net
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
this is a very prudent move on managements part said barnes
employment expanded for the first time since august 1984
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
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
about 3314 head of cattle were auctioned in liniers cattle market against 13952 on wednesday and 9217 last thursday trade sources said
between 20000 and 50000 barrels per day bpd will be pumped along it perry said
the par priced 14 year is guaranteed by hoechst ag
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
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
chinas 1986 trade deficit totalled 12 billion dlrs official figures show
horiz0n agrees to 948 mln stg bid from bass
the mississippi river is now open for barge traffic up to the twin cities in minnesota after repairs were completed and the first barges moved upstream through lock and dam 20 near quincy ill at 0600 cst today an army corps of engineers spokesman said
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
consolidated grandview inc said it acquired a 60 pct stake in all ticket group plc of london for undisclosed terms
acme precision acl buyout bid dropped
chrysler said electrospace will help its gulfstream operations grow in military and commercial aircraft sales
but he warned of another dip to below 145 yen
the remainder will be awarded to competitive bidders offering the lowest yields
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
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
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
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
his comment echoed last octobers organisation for economic cooperation and development report on turkey which said ankaras case for more medium term financing on better terms would look better if inflation were lower and the current account deficit cut or turned into a surplus
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
the ministry also asked electronics firms to provide distributors with certificates designating them as authorised exporters in an effort to close loopholes through which grey marketeers sneak chips out of japan market analysts said
the only traditional way forward was to capitalise interest which would mean greater bank exposure in bolivia and greater loss provisions he added
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
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
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
uk potato futures trading not to be suspended
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
but a western diplomat warned that potential us buyers would not give china the warm reception it received in japan
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
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
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
guinness seeks uk injunction against saunders
the provision for loan losses was 872 mln dlrs compared with 838 mln
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
gulf barge freight rates continued to show a firmer tone in the nearbys on the assumption that changes in the gulf posted prices will encourage increases in both pik and roll activity and barges shipments with a total of 21 barges traded this morning on the st louis merchants exchange call session versus nine yesterday dealers said
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
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
no heavy coffee export implied colombia official
the buyback authorization is in addition to a previous approval last september to repurchase 12 mln shares
commonwealth energy system ces dividend
computer products cprd to sell convertibles
the group earlier reported a 19 pct rise in profits to 139 billion which sheehy said was achieved without any help from exchange rate fluctuations or acquisitions
the company recommended that shareholders reject sosnoffs offer made through his mts acquisition corp and not tender any of their shares
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
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
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
bank of france leaves money market intervention rate unchanged at 7 3 4 pct official
the decree did not say specify if this was net or gross profits
a leaf disease affecting seven pct of sri lankas rubber plantations may reduce output this year and raise currently depressed prices industry officials and researchers told 
gasper said it became apparent congress was ready to pass legislation that would have rescinded the fee increase
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
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
the decision was announced late friday
but despite the link up sumitomo president koh komatsu told he is confident his bank can quickly regain its position
sudanese minister predicts debt difficulties
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
the bank moved to tighten liquidity when the initial signs of the recent expansion became apparent in september and october last year russell said
marx is in new york with argentinas debt negotiating team holding talks with the creditor banks steering committee
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
engelhard corp sets three for two stock split and raises quarterly
brown and sons inc and lf rothschild unterberg towbin inc
he said he still has received only a negligible number of shares in response to his tender
it said the strong rise in the longer leading index between december and february was due mainly to rises in share prices
united telecommunications said the transition of us sprints nationwide fiberoptic network is proceeding ahead of schedule
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
bank of japan to sell 500 billion in bills
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
in addition to papua new guinea merlin has petroleum exploration and production interests in the us bond added
the company said the total value of the order is at least 5200000 dlrs and could be more depending on circuit configurations required
it noted that easter sales will fall in april this year instead of march as last year
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
this is a breakthrough for bolidens sales of mining technology and knowhow said the groups chief executive kjell nilsson
japan february current account trade surplus jump
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
analysts are looking for build of between 35 mln barrels to a six mln barrel draw for the week ended march 27
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
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
sun sun cuts heating oil barge price
gencorp gy to sell general tire
illinois tool works itw sells two divisions
the bank has 592 mln dlrs in assets
sen
ecuador plans to produce 280000 bpd in august rising to 320000 bpd next january the minister said
merchants mchno to report 2nd qtr loss
sugar factories normally work 24 hours a day seven days a week during the campaign
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
trinity industries inc trn 2nd qtr net
mediq diagnostic is a limited partnership of which mediq is general partner
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
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
the bond is available in denominations of 1000 and 10000 dlrs and payment date is april 14
all other terms remain the same
nz trade surplus 1191 mln dlrs in february
the administrations target price proposals are dead in the water he said
the stocks of other textile makers rose along with burlington
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
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
the deal would probably push bps gearing up to around 59 pct from 20 pct currently he said
the shares have been trading recently in a range of 45 dlrs
opec countries are all sticking firmly to official crude oil prices but the volatility of spot prices is likely to continue into the third quarter indonesian minister of mines and energy subroto told 
webcor electronics inc wer 3rd qtr dec 31
peru consumer prices rise 53 pct in march
chrysler c amc buyout valued at 155 billion
proved oil reserves at year end 33 mln barrels up 39 pct from a year earlier and natural gas reserves 47 billion cubic feet off nine pct
seasonal variation brought bank notes in circulation up 190 mln guilders to 297 billion guilders
the government will export 600000 bales of long and extra long staple cotton in the three years from 1986 87 he said
the proposals allowing night shift work by women and variations in the standard 39 hour working week are to be put to parliament as a self contained draft bill after being vetoed for procedural reasons by mitterrand and later the council of state
he quoted smcs chief financial director ramon del rosario as telling the board that the transaction would boost the ratio to 25 to 1
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
pilgrim venture in merger agreement
the company said it believes an acquisition could be completed by june 30 subject to approval by regulatory and atlantic mutual policyholders
tenera said it expects a comparable distribution for the second quarter
france announces plan to boost employment
he suggested washington was open to disussing the issue
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
latest year net includes pretax gains of 166000 dlrs in quarter and 4420000 dlrs in year from pension plan reversions
armatron art negotiates new credit line
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
the bank of england said the issue was no longer operating as a tap
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
net excludes extraordinary loss 38000 dlrs vs gain 1941000 dlrs in quarter and gains 162000 dlrs vs 1941000 dlrs in year
argentinas cost of living index grew 65 pct in january down from last months 76 pct the national statistics institute said
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
the only sure way to keep prices stable is by processing adding more value he said
the company said it expects to release first quarter results in the third week in april
us housing starts rose 26 pct in february to a seasonally adjusted annual rate of 1851 mln units from 1804 mln in january
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
sterling bancorp year net
wallenberg group raises stake in ericsson
it said it will file a registration statement with the securities and exchange commission
advo said it previously announced it would report a net loss for the quarter
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
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
portuguese economy remains buoyant despite crisis
rounding out the financing is a 525 mln dlr tranche of floating rate cmos
the report showed a decline in proven oil reserves to 241 billion barrels at the end of 1986 from 265 billion barrels a year earlier as discoveries and other additions dropped to 114 mln barrels last year from 232 mln in 1985
analysts said an official rate cut could trigger a buying spree on the bond market which would bring yields down probably only temporarily while money rates could fall below five pct
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
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
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
under the terms of the letter of intent chrysler will purchase renaults stake held in the form of bonds and shares
aq is controlled by aloha chairman hung wo ching vice chairman sheridan cf ing and president a
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
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
insurance firm as piezo pepio preferred stake
mono gold says partnership agrees to buy shares
he said it was early to put figures on possible deals or outline what form joint ventures would take
southmark sm completes acquisition
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
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
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
the 5151 pct february bond issue yield was itself a record low
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
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
hes heymans got the bucks
the notes are part of a refinancing plan that includes a new credit agreement with domestic and foreign banks for 300 mln dlrs
the plastics are used in telephone equipment office equipment and appliances
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
delegates said negotiations now focus on the degree to which price adjustments should be automatic
prices for other goods and services rose 07 pct in february following a 11 pct increase in january
interest margins were too small particularly when compared with other west european countries
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
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
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
hodel urged congress to approve oil exploration in section 1002 of the arctic national wildlife refuge in alaska
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
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
danske bank is first danish bank to issue cds
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
cyacqs amended offer expires midnight new york time on april three 1987 unless extended
gross national product grew 24 pct last year
personal incomes rose by 109 pct in 1986
kdi corp said it has agreed in principle to acquire triangle microwave inc for 650 dlrs plus a contingent payment for each triangle share
lifestyle restaurants inc said it reduced the number of bombay palace restaurants inc common shares to be received in its previously announced merger agreement
rexham rxh gets takeover offer
april 9 previous quote 7003 6987
london grain freight enquiries
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
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
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
s and p said there are uncertain returns on such a large investment for ecolab as well as increased credit risk with debt leverage rising to more than 60 pct from 25 pct currently
brierley investments ltd bil launched a full takeover bid for the supermarket group progressive enterprises ltd at 435 dlrs a share
it gave no further details
for 200000 dlrs
1985 reflects tax benefit of 186000 for quarter and 573000 for year
the shearson stake is to be sold for 530 mln dlrs american express has said
michael jackaman president and chief executive officer of hiram walker and allied vintners said the acquisition is an excellent one both commercially and financially
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 
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
group has 64 pct of atlantic research atrc 
in our opinion bils actions are clearly not designed to be in the long term interests of either progressive or rainbow shareholders hawkins said
this compares with the banks revised estimate of a 750 mln stg shortage in the system today
louis dreyfus 5300 tonnes same corn may 10 june 5 at 7549 dlrs fob gulf
however he said there would likely be changes in the market access proposal from the plan which cleared the house last year
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
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
the company also said it received food and drug administration approval to market cefadroxil a generic version of an antibiotic with domestic sales exceeding 50 mln dlrs in 1986
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
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
james river corp jr sets regular payout
cominco clt sells stake in canada metal
abbey national the second largest building society in the uk said it has arranged a one billion dlr euro certificate of deposit program
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
dylex ltd year jan 31 net
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 issue has already been placed privately on an international basis and will not be listed
a lower dollar would harm the us economy he noted
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
coffee price fall short term dutch roasters
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
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
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
consumers are asking that in these circumstances the adjustment be automatic at five pct or more
sheppard chief operating officer
pagecorp also said all class b shareholders have agreed to deposit their class b shares if gordon proceeds with its offer
the committee had originally been due to meet in vienna this week
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
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
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
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
chrysler says it sold 405 mln dlrs of corporate bonds to investment bankers
the four assay offices also marked 832222 foreign gold articles up 25 pct on last year
bayer said mobay its primary chemicals company reported net income of 834 mln dlrs up eight pct of 1985
the issue has a one time call after three years first boston detailed
energy foreign investors
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
he said the two parties would share the patent and give 80 per cent of the royalties received to the new foundation
milastar corp mila 3rd qtr jan 31 loss
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
consumers and producers mindful of itc buffer stock losses have also sought strict conditions for buffer operations
dayton hudson corp dh 4th qtr jan 31 oper net
i view it as pre negotiation posturing said analyst carole berger of cyrus j
banque francaise de lagriculture will lead with union de garantie et de placement a 300 mln franc issue for its own account
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
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
quantum diagnostics qtmcu gets patent
central pennsylvania cpsa buys stake in firm
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
but it said there was a continuing improvement in its core businesses
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
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
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
kaiser steel corp s plant in napa calif has been purchased by oregon steel mills for 16 mln dlrs the privately owned portland company said
the company said jerry gottlieb senior vice president lorimar telepictures will serve as acting chief executive officer of karl lorimar video
first consignments were expected to be available around mid june
finance minister mohammed ali abal khail and commerce minister suleiman abdulaziz al salim will attend the first day
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
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
gaf gaf studying borg warner bor plan
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
reiners said the spread is not really narrow enough to present a clear need for a prime rate increase
essex corp esex year end loss
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 chairman of one of spains leading banks said the measure was expected to bring a 20 pct drop in profits this year
peerless manufacturing pmfgo sells unit
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
peter miller apparel group inc 3rd qtr loss
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
may said the remaining outbreaks were caused by salads and mixed food turkey seafood pork eggs and other foods
it could not be expected debtor countries would be able to repay debts in the short run even if economic conditions improved
sources noted federal government issues had also increased in size with the introduction of a four billion mark volume only starting last may
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
we will not get another chance before the year 2000 he added
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
standard and poors corp said it downgraded bethlehem steel corps debt securities
in an interview with durham said the company was examining potential candidates but not yet talking with any
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
morgan guaranty trust co of new york london branch will be issuing and paying agent
the area sown this season was 20 to 22 mln hectares down 299 to 363 pct on last years record 314 mln hectares
south africa crop weather summary usda noaa
government figures show gdp grew at an annual 18 pct in the quarter to september and 34 pct in the june quarter
february fomc votes unchanged monetary policy
in the 15 year period between the time the note is purchased and the time it is redeemed no interest is paid
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
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
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
bank of ireland said it launched in the us market a commercial paper program for up to 200 mln dlrs becoming the first irish issuer of paper in that market
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
us fhl banks sets 670 pct 710 pct 765 pct rates on 255 billion dlr offer
canadian pacific ltd said it retained wood gundy inc to seek a buyer for maple leaf mills ltd of toronto
mr
prospect group has 143 pct of brinkmann briko 
gencorp will finance some of the buy back with bank loans the agency noted
het comite claims the way the levy is applied does not take account of currency cross rates of exchange and can mean a compounder in one country being asked to pay a higher levy in its own national currency than it received down the chain from the original producer of the grain
the group said it purchased the shares for investment purposes
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
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 utility which once was south africas largest borrower of foreign funds said prearranged import financing facilities are expected to provide foreign funds of only about 300 mln rand this year
i predict it will be something between eight and 10 per cent he told a news conference
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
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
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
united states video vending corp said hill international inc called a 260000 dlr promissory note that is collateralized by the assets of united states video
wheat tobacco tea coffee jute engineering and electronic goods as well as minerals including iron ore are all on offer in return for crude oil petroleum products chemicals steel and machinery trade sources told 
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
first fbt reiterates speculation premature
he did not say how much of a price hike he expected
it is therefore not possible on this basis to draw conclusions about the developments of the external current account the statement added
transamerica ta to have gain on unit sale
local investment also has stagnated with businessmen blaming inconsistent economic policies and lack of incentives
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
technical measures wont be enough to protect the ems against external factors such as dollar weakness
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
this is clearly unacceptable for the monetary authorities and politicians in washington he said
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
energy secretary sees higher oil prices
the debentures are non callable for three years and non refundable for five years drexel said as lead manager
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
the schedule stipulates the premiums and discounts used for valuing grain the ccc accepts or purchases during the year
exxon xon extends mid grade unleaded marketing
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
washington said the platforms were used to monitor shipping and to launch small boat attacks on shipping
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
us study says tariffs and quotas could backfire
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
latest consumer price data indicate us inflation will be moderate in 1987 even though it will be above last years pace economists said
the senate last week unanimously called on reagan to impose penalities on japanese exports
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
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 increase in lighter weight cattle entering feedlots helps explain the jump in feedlot placements last month from february 1986
retail sales fell to 1198 billion dlrs from 1199 billion dlrs in december 1986
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
varieties of the deadly disease attack major cash crops such as cotton vegetables orchard trees citrus fruits and garden plants the company said
the amount of crude delivered to the soviet union might double to 200000 bpd later he said
northair nrmto opposing norquest nqrlf bid
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
washington announced plans last week to slap up to 300 mln dlrs in tariffs on japanese electronic goods raising the spectre of a trade war between the two countries
the pentagon as is its custom declined to confirm the exact whereabouts of the ships or what they were up to
he said a merger would significantly enhance the financial turnaround that purolators management had previously forecast
the cmb has 455000 60 kg bags of coffee about 15 pct of annual production stockpiled in kampala awaiting shipment
as ofs peaked at just over 500 mln dlrs on tuesday
usair earlier today rejected twas offer saying twas bid was an attempt to interfer with its buyout of piedmont
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
sales for the next marketing year which begins september 1 totaled 503200 tonnes and were mainly to iraq and taiwan
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
saudi arabia the worlds largest oil exporter will continue to restrain production as long as other opec members adhere to the pact nazer said
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
german producer prices fall 01 pct in march
talking point borg warner corp bor 
dutch grain levy test case to start in april
venezuela wants to boost its refining capacity
payment date is april 9 and listing will be in london
growth in oecd countries is expected to come primarily from transport fuels as in 1986
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
kenyan minister forecasts economic expansion
it said a bank can sell the bonds on the secondary bond market for either dlrs or pesos depending on its requirement
agl said in a statement that it already holds 105 pct of tmocs issued capital
nova corp is considering a takeover bid for dome petroleum ltd either alone or as part of a consortium nova chairman bob blair said
paramilitary police were guarding steel mills at reinosa in northern spain from the daily protests against planned job cuts
colombia traders say new coffee strategy vital
the central bank aims to keep the guilder stable around its parity value within the european monetary system of 112673 guilders per 100 marks
amex begins trading harcourt brace hbj options
the crucial question however is how soon either of these developments is likely to occur kaufman said
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
payment date is april 22 1987
the trust last paid 12 cts on january 28
the merger following the tender offer will be subject to approval by argosystems shareholders the companies said
the reduction follows similar moves from the three other british clearing banks
it described early development of the new main crop as patchy
for 1986 cook reported a loss of 308 mln dlrs on sales of 257 mln dlrs for the prior year
fees are a one pct selling concession and 1 2 pct combined management and underwriting
they feel its a different facility and so any kind of suggestion of a restructuring would look bad one banker commented
south african foreign reserves up sharply in feb
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
she said usda has notified australia which assured it that stricter controls would be implemented
revenues advanced to 337 billion dlrs from 312 billion dlrs
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
shr 18 cts net 1948000 revs 3397000 note company began operating on february 20 1987
the contracting period for both commodities is march 20 through august 31 1987
the structural talks are intended to be free wheeling discussions among senior officials
us dlrs
for fixed rate loans it was 936 pct 14 basis points below a month earlier the agency said
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
sporting life inc splf 2nd qtr jan 31 net
bp oil raises operating profit
he said that at the time of the 13 dlr per tonne subsidy offer us wheat prices were 26 dlrs over world levels
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
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
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
shr not given loss 549 mln revs 272 mln note prior year results not given
he added that he remains optimistic that current talks would be resolved successfully
it said the two shelard banks have a total of five offices in the minneapolis st
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
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
the transfer payments surplus widened to 75 mln dlrs in february from 73 mln in january and 60 mln a year ago
discussions with bankers proved one thing
keefe said the next level of significant chart resistance will be at 101 24 32 to 101 28 32
it operates a global packet switching network and global limits systems for foreign exchange trading
petersburg published by gulf coast newspapers inc
us treasury secretary james baker said over the weekend that the paris pact did not encompass fixed tragets for the dollar
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
ruter
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
wichita industries inc said it agreed to buy fountain oil and gas inc
total private and semi public authority net borrowings rose to 464 billion dlrs from 442 billion in the third quarter and 351 billion a year earlier
browning ferris industires inc said its board declared a two for one stock split payable april 24 to holders of record march 31
venezuela to annouce partner for coal venture
in the market drop the stock of acquirors got clobbered more than the acquirees another analyst said
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
south korea has agreed to pay japanese trading houses just over 400 dlrs c and f per tonne up from an average of 350 dlrs in the first quarter and throughout 1986 they said
imports of rice to japan are banned under the foodstuff control act
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
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
us agriculture secretary richard lyng said this week he will ask japan to remove all beef import restrictions when he visits here next month
but he warned of another dip to below 145 yen
indonesia to import palm oil fears may shortage
taiwan shipbuilder looks for japanese ventures
it is restricted to new offshore developments outside the southern basin and yet to gain annex b approval
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
metro airlines mairo to make acquisition
gencorp sues general partners
bastian technologies mulling cosmo csmoo bid
after restructuring under the holding company format the companys present truck and engine subsidiary will be known as navistar international transportation corp
the february monthly merchandise trade figures to be reported tuesday by the commerce department will be on a new basis reflecting more recent data so avoiding future revisions of the monthly figure commerce officials said
as a result of the payoff of the other loan naples will have a first lien position on all of puntas holdings
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
vms mortgage investors lp vmlpz montly div
brazil crisis spurs rethink of debt strategy
pizza inn inc pza 4th qtr loss
metropole recently won the concession to operate a sixth television channel in france
he said he shared some of the us concern about japans trade surpluses which affected european countries as well as the united states
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
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
house trade bill drafting postponed
in 1986 it bought three small suburban banks
in 1986 ecuadors total service on the foreign debt was about 996 mln dlrs to all creditors
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
borg warner traffic services provides freight bill pre audit payment and information services to industry through borg warner acceptance corp
general mining earlier reported that 1986 per share earnings rose 28 pct to 616 cts
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
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 subcommittee approves development bank funds
he said its new loans will increase the pool of funds available for badly needed investment
south korean trade surplus narrows in february
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
fed to release us april consumer credit june 5
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
western bankers say the forint is more realistically valued than currencies of hungarys comecon allies
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
mattson also declined to comment on whether the directors of baker and hughes have scheduled any meetings to discuss the merger
reagan sends intl rubber agreement to senate
micron technology dram sees 2nd qtr loss
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
the commodity credit corporation ccc has authorized 30 mln dlrs in credit guarantees for sales of us rice to algeria for fiscal year 1987 under the export credit guarantee program gsm 102 the us agriculture department said
reserve holdings in us dlrs at end of march versus end of february were as follows
that would result in a total debt to capital ratio of nearly 50 pct moodys said
dynamic homes inc dyhm 4th qtr net
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
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
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
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
i think it is very healthy when you can get into a period of stability she said
the company also said it will continue in the medical development business as long as it is deemed to be advantageous
but ortiz mena said latin america and the non regional members including europe and japan had all supported a 40 pct veto level
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
shr 19 cts net 653000 revs 456 mln note prior results not given due to november 1986 acquisition of 56 pct stake in continuous colour coat ltd
the 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
but they said there was little chance japan could react quickly enough to avert the higher tariffs
speaking to reporters on his return from the meeting lyng said only about five minutes of the session dealt with agriculture issues
businessland inc said it sold 50 mln dlrs of 5 1 2 pct convertible subordinated debentures due 2007 in a registered public offering
us agriculture secretary richard lyng said no decisions were taken today at a white house economic policy council meeting
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
venezuela to lend up to 125 mln barrels of oil
its april inflation rate was a record 2096 pct and contributed to an accumulated rate of 8419 pct in the first four months of 1987
the owners are considering unloading part of the cargo onto barges
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
argentine vegetable oil shipments in 1986
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
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
the company said the systems will be used in the c 17 military transport program
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
the move raised tariffs to 100 pct from about five pct on japanese color television sets hand held power tools and portable computers
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
a disinflationary monetary policy should continue to be the main objective of the fed johnson said
western bankers say the forint is more realistically valued than currencies of hungarys comecon allies
details of the proposal were not disclosed
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
g 7 seems worried markets ignore coordination
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
nz 77 day t bills yield 2497 pct at tender
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
the saudis had demanded that brazil get credit guarantees from leading international banks
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
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
weekend rain over the western corn belt brought further relief to crop areas that had been dry earlier this month and developing weather patterns will bring welcome moisture to central and eastern belt locations this week according to dale mohler senior meteorologist for accu weather inc
he expected the decline to continue in the next few months because of further appreciation of the local dollar against the us currency
the hong kong stock exchange said it will not accept further proposals by listed firms to issue new shares with reduced par value but equal voting rights
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
sports carmaker dr
the bank said this will be the largest such program ever established by a us or foreign commercial bank
china is short of foreign exchange the shanghai official said
lloyds bank matches base rate cut to 105 pct
ges stock declined 1 4 to 103 1 2 on 625000 shares by midafternoon
annual inflation for 1987 was forecast at four to 45 pct by the national economic and development authority early this month
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
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 nics have made deep inroads into markets for textiles and electronic goods
the company currently operates 95 restaurants in 16 different states
cdc said one prospectus covers a planned issue of units to raise up to 30 mln dlrs for subsidiary canterra energy ltds 1987 exploration spending
the bank of japan is satisfied with the yen around its current range a senior central bank official told reporters
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
an estimated 300000 tonnes of oil will thus be obtained from fields in angola over the next 15 years tanjug said
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
the deals are expected to be completed by july 31 kellwood said
analysts said the moves could encourage washington to cancel the tariffs ahead of next months meeting between prime minister yasuhiro nakasone and president reagan
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
remaining shareholders would have until later this month to sell their shares to stora the company said in a statement
sg warburg securities is the other co lead manager
dri estimates that foreign demand for italian products should grow by a 32 pct this year following last years 62 pct increase
the program is for an unspecified amount and is guaranteed by the parent basf ag
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
the impact of that and several smaller deals will be felt fully in 1987 taylor said
the issue is targeted at europe with no japanese co managers
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
the company named goldman sachs and co lazard freres and co and merrill lynch capital markets as managing underwriters of the offering
cftc said the exchange plans to begin trading a july 1987 hfcs 55 contract on april 6
the governments liberal industrial policy has attracted investment commitments totalling 250 mln dlrs he said foodgrain output is estimated at 164 mln tonnes this year up from 1612 mln in 1985 86 and 144 mln in 1981 82
viragen inc said it is sponsoring clinical studies of human leukocyte interferon alpha in the treatment of renal cell carcinoma and bladder cell carcinoma
earlier the bank forecast the deficit at 105 billion stg and gave 90 mln stg assistance at an early round of bill offers
dayton hudson said it told buyer of stock its not interested in being acquired
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
brazils interest payments moratorium announced last month is being seen as a major challenge to the baker plan
tehran in the past had held back a number of vessels kuwait had sought to release through diplomatic contacts it said
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
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
the board said it offered 35000 bags and sold 32876
fourth quarter loss 895000 dlrs
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
the accord effectively extends a moratorium on most repayments of 13 billion dlrs of south africas short term foreign debt
farm land signed up to date now totals 19488587 acres
iran having vowed to react strongly after mondays us action launched a barrage of threats and ridicule
in january 1986 the union recorded a deficit of 2331 billion francs
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
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
jamaica authorized to buy pl 480 wheat usda
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
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
the potential risk factors are very large relative to what we had expected said a director at one uk merchant bank
it also said that for the foreseeable future henkel does not intend to increase its participation in clorox above the 30 pct level
kay kay to acquire specialty fastener firm
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
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
the french government has given itself until the end of april to decide which applicant will be accepted they added
supply from argentina and south africa for july september is still uncertain
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
world recession unlikely deutsches herrhausen
earlier today the official planning agency cpb said it expected the surplus to fall to six billion guilders during 1987
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
a year ago the rate was 28 pct
merrill lynch will lead the underwriting pillsbury said
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
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
fleet shares closed today at 59 1 2 up 1 8 giving the deal an indicated value of 13 billion dlrs
1986 results include the effect of a stock offering resulting in the issuance of an additional 862500 shares of common stock
one diplomat said the call for a report showed ministers were determined not to let the japanese question drop
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
a management group is being put together and we are selling well inside the fees a cl spokesman said
cosmo communications corp csmo year loss
segment data for foods restated to include results of commodity marketing previously reported separately
amoskeag amkg takeover blocked by court
the company said commission hearings on the stipulated settlement are expected to start next month
indonesia has imported palm oil traders say
japan central bank intervenes in tokyo afternoon
most of the suppliers stayed with us as long as they could elton said
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
hk banks to raise prime rates soon dealers say
cummins recorded net income of 3743000 dlrs or 38 cts per share on sales of 5169 mln dlrs
he told reporters that volumes in north america increased some 105 pct while european consumer goods rose about 25 pct after being flat for some years
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
the lower costs for raw materials and energy resulting from the lower dollar could not compensate the fall in revenues
fendt said imports were running at levels well above the traditional average for brazil
much of the momentum was derived from the futures market where a high 33074 lots were traded in the long gilt june contract
in fiscal 1985 86 aircraft accounted for 171 pct of mhis sales shipbuilding 17 pct and power plants 279 pct
speaking to reporters after a shareholders meeting he said eurotunnel would offer a menu of securities designed to overcome investor reluctance
but the diplomats said they had seen no reports in the state press and heard no comments from officials to substantiate them
japan february unemployment falls to 29 pct 30 pct in january official
they got a 1 16 reduction
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
it also will be faced with an expensive but necessary updating of its aging fleet of 111 aircraft
the semiconductor maker cut net losses to 256 mln dlrs or 31 cts a share from 394 mln dlrs or 47 cts in the quarter
american express also said the options reflect the continuing integral role of shearson in american express worldwide financial services strategy
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
but banking sources said west germany was more likely to produce its own conclusions than to adopt foreign proposals
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
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
with the safveans acquisition it is now mainly a trading and industrial company
he told the shortfall was a direct consequence of economic growth of nearly eight pct up from 51 pct in 1985 which he said resulted mostly from a surge in domestic demand
there are ways of producing coconut products outside of copra romero said
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
if he didnt say no then theres a chance
31 1986 as previously reported
macmillan bloedel mmblf to redeem debentures
cenergy corp reported fourth quarter net income of 790000 dlrs or seven cts per share on revenues of 77 mln dlrs
the us has also attacked the original merger plans saying that both rival consortia should be licensed
us house targeting proposal sparks interest
usair stock was trading at 50 3 4 up 2 1 4 on heavy volume of 31 mln shares
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
semegran expects first quarter earnings of about 185 dlrs a share from 167 dlrs last year
taiwan buys 60000 tonnes of us maize
he said the actual production during the 1986 87 season november may is about 480000 tonnes barely enough to meet local consumption
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
jewelmasters sales sales for the year just ended were about 525 mln dlrs
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
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
an explosion followed by a fire ripped through a british petroleum bp oil refinery killing one man
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 price of dome common shares fell five cts to 105 dlrs in trading on the toronto stock exchange today
may ma to sell sycamore division
bankers say the liberalisation will increase the cost of funds and inevitably push lending rates higher
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
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
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
sony corp posted net consolidated income of 4189 billion yen 290 million dollars in 1986 426 pct down on 1985s 7302 billion yen 506 million dollars but morita added that japan would benefit from the strong yen by saving on its energy import bill and he expected profits to recover from 1988 onwards
1986 year net excludes tax credit 919000 dlrs
the soft tone to refining margins reflects large worldwide stocks of petroleum products and thin trading activity traders said
the 57 cts per share in earnings reported for the fiscal year ended in february was lower than 1978s earnings he said
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
dutch money market debt rises in week
the maximum rebate was 46496 ecus per 100 kilos for 118350 tonnes of sugar down from 46864 ecus the previous week but the change is explained by world market conditions
convergent technologies cvgt to buy oakleaf
bank of nova scotia issues new zealand dlr bond
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
analysts have speculated gencorp could fetch at least 110 to 120 dlrs per share if broken up
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
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
it said each right will entitle shareholders to buy one share of common stock at an exercise price of three dlrs
glynwed buys gallaher units for around 14 mln stg
shr loss 83 cts net loss 2115000 revs 1396 mln avg shrs 36 mln note company went public february 1986
prime medical services inc said merger talks with national hmo corp nhmo have been terminated
it yields no calories and does not promote tooth decay
altron said the acquisition was key to making fintech an office systems company
moodys said its focus will be on halls brokerage business and contingent liabilities associated with the unit union indemnity insurance co
the bank said it was the ninth consecutive current account surplus since the start of 1985
california micro devices corp said it has signed an agreement with grumman corps tachonics corp unit to develop and product gallium arsenide seminconductor chips
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
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
dealers said the lowering in base rates had been widely expected following yesterdays uk budget in which chancellor of the exchequer nigel lawson announced a three billion stg cut in the governments public sector borrowing target for 1987 88 to four billion stg
the cocoa market is completely free
sri lanka was the most active wheat destination with purchases of 52500 tonnes for the current year it said
dart said it will not solicit authorization to call a meeting of dayton hudson shareholders
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
the previous record low was 3383 pct at the last auction on february 12
comdata said in the merger each share of the companys stock would be converted at the holders election into either 15 dlrs in cash or a combination of 10 dlrs in cash and a unit of securities including common stock
dealers said overseas investors had not been buying today and predicted consolidation before next weeks uk budget
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
it also said the court refused to require cyclops to provide cyacq with confidential information previously provided to dixons
it said the product line is designed for remote ibm mainframe to mainframe data communications
the goal of trade legislation was to make our trade policy stronger without violating our international trade agreements he said
the times of zambia said another major issue in the governments current talks with the imf and world bank was the remodelling of zambias foreign exchange auction
he also cited the recent declines in the dollars value
taiwan industrial output falls currency blamed
budget rent a car corp bdgto 3rd qtr net
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 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
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
exxon xon sees synfuels role by year 2000
united telecommunications inc ut 1st qtr net
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
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
paris traders put the likely tonnage at around 60000
purolator was trading at 40 1 4 1 4 above the offer price
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
federal reserve board chairman paul volcker said that the dollars slide in currency markets has been enough a fed spokesman said
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
baker filed a lawsuit in texas state court late yesterday to force hughes to abide by terms of the proposed consent decree
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
the company said it produced 23961 trucks in the us during the month compared to 134 in the same month last year when most of chryslers truck operations were temporarily closed down for model changovers
frischs restaurants inc frs sets quarterly
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
earlier the bank revised its forecast of the liquidity position to flat from its original estimate of a 100 mln stg surplus
general cinema gcn sees flat 1987 net
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
dealers said major consumers still need to cover their may and june requirements but are holding out for even lower offers
the preferred share has a par value of 25 dlrs and is retractable at the holders option on may 1 1994
avnet avt files convertible debt offering
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
this attempt to weaken latin americas voting power and particularly a threat by washington to reduce funds to the iadb unless its reforms are accepted has created considerable resentment among latin americans
general mills said these charges will likely offset non operating gains which included six cts a share in the first half
first financial ffmc acquires tel a data
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
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
shr profit 47 cts vs profit 178 dlrs net profit 16 mln vs profit 53 mln avg shrs 277 mln vs 274 mln nine mths shr loss 2251 dlrs vs profit 578 dlrs net loss 610 mln vs profit 168 mln avg shrs 2176 mln vs 273 mln assets 3314 billion vs 3389 billion deposits 2201 billion vs 1986 billion loans 2176 billion vs 2270 billion note net includes loan loss provisions of 40 mln dlrs vs 48 mln dlrs in quarter and 748 mln dlrs vs 217 mln dlrs in nine mths
barclays bank plc bcsl and midland bank plc mdbll said they are cutting their base lending rates to 105 pct from 11 pct
it will take at least until the end of july to repair the pipeline and return output to normal levels
honeywell bull president jerome meyer also told the press conference the company was profitable adding the company aimed to improve profits over time
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
waste management has a 27 dlr per share tender offer for chemlawn underway that chemlawn has already rejected as inadequate
the rebate at last weeks tender was 25 ecus per 100 kilos short of the level producers said was needed the officials said
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
the spokesman said the seamen had signed an agreement with the state owned lloyd brasileiro company on saturday for a 120 pct salary rise
according to the 1987 federal budget the state is due to lower its stake 60 pct in laenderbank probably to 51 pct
textrons txt 14 billion dlr contract final
any acquisitioon would be subject to approval by its shareholders and to regulatory filings it said
according to the terms of the deal first union will pay 85 mln dlrs for the outstanding shares of commerce national a bank with 432 mln dlrs in assets
nato calls on greece and turkey to avoid force
newcor inc new 1st qtr jan 31 net
northern trust corp said it filed with the securities and exchange commission to offer up to 150 mln dlrs of debt securities
local banks floated shares to raise extra capital while the branches of foreign banks brought in additional cash
a net has been thrown over the gaping loading doors at the front of the ship to prevent any more drums floating out
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
we told them we would give them help and we are waiting to hear the kuwaiti response to our offer one official said
exports in 1986 87 season at 6500 vs 6350 last month
belgium zaires former colonial ruler and its main trading partner recently agreed to release a total of 17 mln dlrs to ease payments difficulties and finance imports of spare parts for industry
todays price was set at 4776 francs per 100 kilos and tuesdays at 4790
total membership of the exchange is now nine brokers and 44 traders
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
on a customs cleared basis crude oil prices rose to around 17 dlrs a barrel in february from about 15 dlrs in january
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
the transaction is subject to the execution of definitive agreements certain governmental approvals and approvals by the boards of directors involved iu international said
japan added 689700 tonnes to previous purchases and sales to unknown destinations rose by 429800 tonnes
moodys upgrades texas air tex units debt
beverly enterprises bev debt lowered by s p
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
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
baker later said his remark had been misinterpreted
additional shraes of breakwater will be issued if warrants and options of novamin are exercised
the position of local producers is always to negotiate as they please
feds johnson urges stronger allied growth
delegates said the proposal was only a starting point for negotiations on buffer stock rules and subject to change
the value of the stock subscription rights should correspond roughly to the dividend of 30 francs per share paid in 1984
but only 1699 mln ringgit in shares was taken up by shareholders mainly local indian and malay businessmen and the indian government
this will not be a very exciting budget commented harry schwarz spokesman on finance for the liberal progressive federal party
republic automotive parts raut 4th qtr loss
shares of insurances on the london stock exchange fell across the board in a generally weak market
moodys noted that texaco guaranteed these debt issues when they were first brought to market
us urges surplus nations to boost growth
haerri said the company had been criticized for maintaining bauxite rights as an asset and so had restated the accounts
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
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
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
frost not expected to damage polands wheat
i think there was a time that they british manufacturers thought the exchange rate was uncomfortably high
but it added that a substantial decline in financial leverage is unlikely
the pillsbury co said it filed a registration statement with the securities and exchange commission for the sale of limited partnership interests in a second master limited partnership of its burger king units restaurant properties
use of alcohol fuel in february was 208600 bpd 42 pct above february 1986
shr eight cts vs seven cts net 215821 vs 196873 sales 3112571 vs 2649003
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
this compares with yesterdays rate of 625 francs
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
west german officials said aid last year included 35 mln marks in financial cooperation
new zealand investment companies rainbow corp ltd and equiticorp holdings ltd have placed the majority of their joint shareholding in oil and gas conglomerate ultramar plc umarl at prices up to 220 stg per share the companies said in a statement
new england electric system nes two months net
norcros shares firmed 30p to 342p after the news on investor speculation of a possible hostile bid from williams dealers said
qtly div 10 cts vs 10 cts in prior qtr payable april 22 record april 10
for purposes of comparability following the reorganization of july 1987 net figures including those for 1986 are reported before preferred dividends
eia says distillate stocks unchanged gasoline off 200000 crude up 63 mln
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
those rumors are not correct said carlton curtis an assistant vice president at coke
refinery crude runs in the four weeks were 1205 mln bpd up 15 pct from 1187 mln a year earlier it said
underwriter is loewen ondaatje mccutcheon and co ltd
if people are suggesting that we are going to make wholesale changes in pricing we are not considering this he said
hopes that foreign aid would finance 780 mln dlrs of the 114 billion dlr budget deficit have been dashed they added
swedish tyres process equipment and components firm trelleborg ab has taken a majority stake in boliden since the beginning of this year
as previously reported comalcos commonwealth aluminium corp unit has conditionally agreed to sell its smelter at goldendale washington and port facilities at portland oregon to columbia aluminium corp comalco said it had made a 273 mln dlr extraordinary provision for goldendale losses and closure costs but that if the sales agreement were completed it would reduce the provision made in the 1986 accounts
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
us brass mill copper stocks lower in january
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
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
many former bureaucrats became members of the influential political group he added
italian january industrial output falls 34 pct
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
were getting into a period when they brazil are starting to harvest and starting to export eshleman said
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
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
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
completion of the transaction is subject to arrangement of financing negotiation of a definitive agreement and various regulatory approvals it 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 company earlier declared total dividends equal to 15 cents a share for 1986 adjusting for the stock split and bonus issue
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
gas sales should begin in the first quarter of 1988 it said
cocoa origins dismayed by buffer stock action
earlier the department estimated january personal income was unchanged
kloeckner sees further growth in engineering
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
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
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
in march the gold silver ratio narrowed from 74 to less than 67
a treasury spokesman said lawson had said he neither wanted a substantial rise or fall in sterling
underwriters were not named in the draft prospectus
the measures therefore aimed clearly at bringing monetary growth back onto the desired path he said
wallenbergs fight bid for swedish match stake
news that next years public sector borrowing requirement will be held at 40 billion stg from an earlier projected 70 billion was influential for fixed rate stg investment markets
8 1 4 pct bonds due march 1 1997 at a price of 9950 pct to yield about 832 pct to maturity
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
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
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 whites price was at 192 dlrs from 190 yesterday
sumitomo metal industries ltd has set up two finance firms one in osaka and one in london a company spokesman said
the rise however partly reflected the inclusion of the first full business year of three acquisitions made in 1985
krupp has said previously that the work force cuts are necessary because of weaker conditions on the steel market
the icc had rejected in july on grounds it would reduce competition the merger of the santa fe and southern pacific railroads
the offering will include an underwriters over allotment option of up to 15 pct of the principal amount the company said
individual investments are expected to range between one and 10 mln ecus and are likely to be concentrated in the uk germany and france
banking sources here said only an escalation of south african political unrest would increase foreign pressure on repayments
wal mart stores inc 4th qtr shr 65 cts vs 47 cts
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
about 29 mln dlrs of the class action settlement will be provided by paradynes insurance carrier
proposed offerings recently filed with the sec
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
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
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
total supply includes imports but not broken kernels
fee for co managers is 1 8 pct
german institute sees inflation rising in 1987
biomedical dynamics corp bmdc 4th qtr net
first city fcy sells yale nutone units
while prices continue to rise the napm said that most purchasers do not see them as being significant
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
huckaby said he will deliver this message to corn refiner companies such as ae staley and archer daniels midland soon
sunstates corp sust 4th qtr
he said the process of restoring external balance to the us economy requires dealing with the budget deficit
bankers oppose strict taiwan currency controls
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
elxsi ltd elxsf 4th qtr loss
production is targetted to increase 44 pct for all of 1987
the bank had decided against raising the dividend itself because of the uncertain business outlook at the end of 1986 and developments so far this year showed that was correct christians said
beneficial corp to sell western national life for 275 mln dlrs
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
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
it said hollebs 1986 sales were about 85 mln dlrs
harper international inc hnt 3rd qtr net
if the dollar rate goes higher our debt service in terms of pesos gets higher so the financing is very difficult she 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
bank officials said the rises were due to a strong yen which made imports of japanese parts raw and intermediary materials more expensive
for about 12 mln dlrs
an official from a leading conservation group who asked not to be identified said the panels move was an unfortunate first action because it could lead to the exemption of potentially millions of acres from the sod buster regulations established under the 1985 farm bill
six month deposits also firmed to 7 1 8 seven pct from 7 1 16 6 7 8 on sunday
pubco corp pubo year net
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
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
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
hair said the federation was not opposed to the possible exploration of oil only that interiors study was inadquate to make a sound judgement
the companys full name is advanced institutional management software inc
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
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
it also said it is discussing placing additional convertible debentures with london based financial institutions
the bank also sold 18 billion francs worth of 850 pct december 2012 tap stock at a top accepted price of 9360 pct
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
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
for the short term the key word is confusion block vice president tom bloch said in an interview
hog and cattle slaughter guesstimates
the rate on the card is set quarterly
total capital corp said it acquired dunhill compact classics inc for an unspecified amount of stock
belgian unemployment falls in march
pemex lowers february far east crude oil prices
senior engineering makes 125 mln dlr us purchase
last year it exported an average of 173500 bpd according to the central bank
general mills inc reporting stronger results for the third quarter ended february 22 said it expects the momentum to continue in the fourth quarter
conable said there was no indication that the soviet union was serious about joining the international monetary fund and world bank
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
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
uk money market offered early assistance
disney family company
scimed said the suit which alleges that scimed infringed on advanced cardiovascular patents is without merit
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
nerci ner unit closes oil gas acquisition
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
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
they will be issued in denominations of one mln yen and listed in luxembourg
independence now owns about 40 pct of south atlantics 98 mln primary common shares
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
earnings per share after real tax including the writedown 194 crowns vs 1205 crowns
dome said it charged the 214 mln dlrs in accumulated foreign exchange losses to current expenses because of the uncertainty arising from its proposed restructuring plan
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
disclosed risk provisions which under west german accounting rules do not necessarily reflect the full amount rose to 7363 mln marks from 2240 mln
i am not ashamed to say it there definitely isnt a way to pay he said
it would be ideal if we reach a point where movement of capital and earnings can be free he said
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
measurex corp mx 1st qtr net
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
net equity accounts share of associates earnings
abnormally warm and dry weather over most parts of china is seriously affecting crops the new china news agency said
other republicans on the panel questioned how the bill would determine if a person was actively engaged in farming and therefore eligible for payments
core industries inc cri 2nd qtr feb 28 net
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
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
ambassador financial afgi unit to buy builder
western agricultural experts in moscow said soviet planting intentions are likely to be unchanged
the funds would provide additional working capital
a spokeswoman for the ec commission said ec external trade commissioner willy de clercq had written to his us counterpart special us trade representative clayton yeutter outlining the concerns of the 12 nation community
cannon can sells stake in hbo cannon venture
algeria tendering for balance eep wheat trade
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
gateway sporting buys innovative dental
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
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
however david owen uk economist at kleinwort grieveson securities said any fresh sterling strength would still trigger a base rate cut and that todays figures did not signal higher inflation this year
ashland oil chairman sees loss from operations in the second fiscal quarter
twa also said it is amending its application with the department of transportation to seek control of usair
last year japan racked up a 36 billion dlr trade surplus with the united states in these products
dart group corp said it offered to buy supermarkets general corp for 4175 dlrs per share in cash
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
he welcomed the recent moves by citicorp and chase manhattan to increase sharply their third world debt provisions
the budget explicitly recognises the need to draw down reserves while foreign borrowing has been ruled out
with the completion of the transaction dixons will proceed to pay 95 dlrs a share to the remaining cyclops shareholders
more the quebec government has said it wants the project to proceed because it would provide future demand for petromont inc petrochemical products
the wallenbergs originally sold nobel industrier an arms and chemicals group to penser in 1984 to pay for buying volvo volv st out of two other key group companies atlas copco asts st and stora koppabergs skps st since then the wallenbergs were ousted as the largest shareholders in skf skfr st by skanska ab skbs st and frederik lundberg wrested control of incentive ab from them
drysdale said pay n pak has better trained sales people than many competitors but it competes on price even though competitors have lower costs
just a year or so ago he said trades of that size going through brokers screens in london were unthinkable
they denied a statement yesterday by portuguese agriculture minister alvaro barreto that the commission had accepted that epac should be eligible saying it had taken no view in the matter
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
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
cable and wireless plc cawll said proposals to resolve a dispute over entry to japans telecommunications market were not acceptable
first financial offers data processing services to over 800 financial institutions through 35 data processing centers
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
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
us economy shows promising signs of growth
year ended march 31 shr three cts vs 11 cts net 384723 vs 800137 revs 51 mln vs 35 mln
usair u and unit remain under moodys review
the surprise 22 billion dlr tender offer for ohio based conglomerate gencorp inc will not be enough to buy the company analysts said
renouf corp international said it now owns 934 pct of benequity holdings a california limited partnership
the unit produces 46000 barrels of gasoline components a year
but lesser quality grades have traded below 100 stg
each unit consists of shares of common stock common stock purchase warrants and 1000 dlr principal amount of convertible subordinated debentures
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
significant declines were recorded in the output of automobiles and parts however
it condemns japan without due process one japanese official said
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
less grain flows into west german intervention
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
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
pemex said this was 32 cts less than january isthmus and 15 cts less than january maya
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
aziz said following the introduction of a government support price in the 1970s the system become so corrupted that only 20 to 25 pct of subsidised wheat was actually reaching the consumer the rest being diverted illicitly to the mills
in the us people talk about fair trade but not here he added
dealers wary over sterling intervention rumour
smith barney harris upham and co
some said they believed the tonnage would probably be smaller at around 60000 tonnes but declined to give a view on the likely restitution
im not quite ready to jump on the bullish bandwagon yet
a committee spokesman told the rest of this years quota will be shipped during the rest of 1987
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
staley continental sta regular dividend set
lower us soybean loan idea sharply criticized
another 409 mln is available immediately under the compensatory financing facility the imfs pool of funds to assist countries hit by export shortfalls
it reported clothing stores were the most optimistic with 80 pct expecting sales in march to be higher than a year ago
domestic usage is estimated at 650000 900000 tonnes depending on how other crops are affected by current poor rains
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
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
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
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
analysts were a little disappointed by jc penney co inc jcp which started out with especially strong sales early in the month
but there are potentials for all types of people to use it
lim earlier met european community farm commissioner frans andriessen and industry commissioner karl heinz narjes
in addition it also bought two mln stg of treasury bills in band two at 10 13 16 pct
aircal is a unit of aci holdings inc while american is a unit of amr corp
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
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
a world bank mission today held talks with a senior finance ministry official to discuss brazils requests for loans ministry officials said
chilean trade surplus narrows slightly in february
the december surplus originally was reported at 964 mln dlrs
however ian harwood economist at warburg securities said his firm was sharply revising its 1987 current account deficit forecast in the light of the latest data cutting one billion stg off the expected full year total to about 175 billion stg
the profit forecast allows for a dollar rate around current levels of just over three guilders
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
on station illinois river south chicago 135 pct bid 140 offered no comparison
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
in comparison the won rose by about five pct and yuan remained stable during the same period he added
operators feel the foreign exchanges are likely to test sterling on the downside and that this seems to make a fall in uk base lending rates even less likely in the near term dealers said
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
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
he said he sold the stock at a profit but did not disclose the selling price
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
as iran knows very well what america is bringing into the gulf could do serious damage said one western diplomat
each of the 17 current foreign securities houses in the syndicate underwrites 007 pct of each issue they said
if texaco doesnt get crude supplies it cant run its refineries so its other assets would not be worth anything he added
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
new harding group inc 1st qtr jan 31 net
torrential rains throughout argentinas grain producing areas virtually paralysed coarse grain harvesting in the week to yesterday trade sources said
they were responding to comments by london traders that large tonnages of unwanted cocoa beans from malaysia indonesia and papua new guinea png were helping to depress cocoa prices
it said the order awarded by the pohang iron and steel co
cherokee group inc chke 1st qtr feb 28 net
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
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
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
oshmans oshm cites weak regional economies
bankers say the rebound in oil prices is the major reason for cautious optimism
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
they include 30000 tonnes for china 31000 for the soviet union 25000 for turkey and 35000 for italy
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
investment firms up stake in mcgill mftg mgll 
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
salomon brothers asia ltd caught market attention by buying 45 billion yen of the 100 billion of government two year notes auctioned on february 3
uk money market deficit revised downwards
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
the base rate assumes a rate of return of 1157 pct down from 131 pct
usair u says dot public counsel backs merger
investor boosts trans lux tlx stake
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
the ministry said de mel asked the world bank to give sri lanka 65 billion rupees balance of payments support
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
botswana bans zimbabwe meat products agency says
the investments will go to plant expansion infrastructure and the extension of hydroelectric facilities in the mineral rich guayana region south of the orinoco river
enron ene to pay dividends on preferred
caesars said its financial advisor drexel burnham lambert inc had determined that sosnoffs offer was financially inadequate for shareholders other than sosnoff
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
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
thus it seems likely that the sterling contract will eventually lose trading interest and volumes will decline
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 
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
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
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
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
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
but us officials said recent market developments will not unravel the spirit of the paris agreement
rates turned down as an earlier rise in bunker prices which had supported the market at the start of the year faltered but then recovered on the reported soviet interest
domestic offerings of foreign currency denominated date first surfaced in fall 1985
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
no purchase authorizations for the commodities provided in the january agreement have been announced by the department
kuranari said both the us and japan should approach the trade imbalance in a calm unemotional manner
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
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
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
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
the ministry will start drawing up its restructuring guidelines from april 1 and the yards will implement the guidelines from september industry sources said
saudi arabia is brazils second biggest oil supplier with an average 115000 bpd
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
arvin arv ses flat 1st qtr results
he is a member of the united states iraq business forum a non profit group designed to promote commerce with iraq
investment firms cut cyclops cyl stake
however it said official sources still believe that this years el nino will have only weak to moderate intensity
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
the average price per barrel decreased to 1472 dlrs from 2641 dlrs
the bank of england said it provided the money market with a further 20 mln stg of assistance during the morning
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
it named morgan stanley and hambrechit and quist as managing underwriters
edelman and dominion textiles inc
the 80000 tonnes of french maize granted for export moved the total to 135000 tonnes since the tender opened in february this year
the operation will put outstanding bill supply at about 1500 billion yen
heyman emphasized that he considered the gaf offer to borg warner to be a friendly one
the plant has been closed since dec
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
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
terms of the bond conformed with those expected earlier today dealers said
the closing date is expected to be may 1 1987
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
it had been trading slightly higher than the 35 dlr offer on friday
anova ventures corp said its board declared a dividend payable in the form of registered shares of stock in duvel corp a blind public pool
moodys investors service inc said it downgraded to ba 2 from baa 3 southdown incs 140 mln dlrs of senior debt
ic industries inc said its board approved a second major step in the reorganization and restructuring of the company
the company said shareholders will be asked to approve the split at the annual meeting on april 29
it estimated 1985 86 output at 2425 mln tonnes vs 2425 mln last month
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
sunbelt nursery group inc sbn 2nd qtr feb 28
but including shares already owned dixons now holds a total of 56 pct of the fully diluted outstanding shares
net profit went to 32 mln dlrs from 750000 dlrs in 1985
laser photonics lazr sells common shares
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
terms were not disclosed
the delegates will also debate whether to endorse concepts of a national prv pseudorabies virus control and eradication program the nppc said
national savings move points to lower uk rates
money dealers estimated todays money market shortage at 11 to 1125 billion guilders barely changed from yesterday
uk money market given 215 mln stg late help
usair u wins court order against twa twa 
it said senegal was given a 55 mln dlrs loan for a rice cultivation project guinea 46 mln dlrs for construction of schools and 12 mln dlrs for comoros for petroleum facilities
with regard to bank holdings in companies the bank of italy can exercise supervisory controls when information on a banks consolidated activities show single shareholdings in a company or another bank of 25 pct or more owned directly or indirectly
in any year they threatened to top 50 pct he would be ordered to propose quotas or other solution
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
peru has first trade deficit in four years
usda to conduct survey for avian influenza
revenues in the nine months are expected to be about 3880000 dlrs compared to 1828000 a year ago
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
rather than translate those into their own currencies and suffer exchange rate risk they buy dollar denominated instruments michael said
thus ccc could own the equivalent of brazils entire soybean crop by the end of calendar year 1987 haggard said
one pdvsa official said the company was looking for independent oil companies with good refinery and distribution network and a strong regional presence
qtly div 20 cts vs 16 cts prior pay april 24 record april 10
since then 39 foreign banks have come into the market and they now control about 15 pct of the systems lending assets
proceeds of the bond sale will be used for general corporate purposes
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 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
it made the statement after talks with canadian officials about rumors in canada that some exporters were not paying the charge
september production was also sharply higher at the statfjord field
gephardt a missouri democrat has not decided the exact form of his amendment an aide said
xerox said the preliminary agreement to sell the affiliate to fintech an altron unit had been reached in march
final february retail sales figures will be published on april 6
french subsidized corn for tunisia morocco usda
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
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
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
the spokesman would not say what was on the agenda
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
usair said it and piedmont again requested expedited approval for the acquisition
danish bond prices rise after austerity pledge
newmont said magma had total sales of 3473 mln dlrs last year including copper sales of 2934 mln dlrs
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
dealers said securities houses and trust banks on the other hand have aggressively sold the dollar
the results for the banking sector are to be presented at a shareholders meeting scheduled for april 29
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
it gave no reason
escom says targets met without foreign finance
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
bejam group plc bjaml 27 weeks to january 3
the qualification was noted in the annual report which new england electric released at a security analysts meeting today
texstyrene foam suspends preferred payments
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
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
a year earlier it lost 139000 dlrs or three cts per share on sales of 4271000 dlrs
dow dow to issue 56 mln dlrs in bonds
restoration of coffee export quotas before october seems unlikely ico producer delegates
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
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
the original idea was to help the needy survive this years unusually cold european winter
inflation was 83 pct in 1986
it said the sale of the shoe divisions and the previous sale of its ski boot businesses will result in an unspecified net gain
cyclops said its reconstituted board includes the three newly named directors and five outside directors all of whom were on the board prior to dixons tender offer
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
german may trade surplus 106 billion marks april surplus 89 billion official
shr 24 cts vs 24 cts prior qtr pay may 15 record april 24
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 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 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
new york coffee futures closed higher on trade talk brazil would not be an aggressive seller near term analysts said
ideal school supply corp idel 4th qtr net
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
milan share dealers also said fiat stock had been under pressure since the placement
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
regarding trade imbalances volcker said that it was critically important that markets be kept open by the industrial nations
no reason to cut rates bundesbanks schlesinger
fed expected to add reserves economists say
dallas corp dls 4th qtr loss
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
american woodmark amwd to build plant
they employ a total of about 1750
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
central pennsylvania also said its directors recently approved a letter of intent to acquire hamilton reliance savings association of norristown pa
treasurys baker says exchange rate changes will reduce trade deficit this year
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
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
more soviet grain buying from us tied to price
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
canadas bank rate rose marginally to 859 pct from 858 pct last week bank of canada said
the agreement is subject to the approval of the cotton exchange board which meets tuesday april 7
ah robinss qrah january earnings up
belgium cuts discount rate to 80 pct from 850 official
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
atpc members find ways to curb tin exports
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
analysts were mixed about how the stock price drop would affect the acquisition
orders in hand and incoming orders were steady at a high level
gaf emphasized the amicable nature of the proposed transaction which it characterized as a partnership
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
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
it said the companies may form a joint venture partnership to bring the mine to full commercial production
government officials have calculated losses to the 1987 budget from last thursdays earthquake at 926 mln dlrs
facilities of the suez mediterranean arab petroleum pipelines company at sidi kreir 32 km southeast of alexandria were closed this morning after one tanker loaded and sailed
swiss wholesale prices fall 03 pct in february
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
us naval forces attack iranian oil platform
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
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
home savings bank hmsbo 3rd qtr net
there were 56578 bags pending certification including 32553 in new york and 24025 in new orleans the exchange said
terms were not disclosed
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
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
that affected 600 mln dlrs of debt
american motors march us car output down to 2578 from 5922
modulaire industries said it acquired the design library and manufacturing rights of privately owned boise homes for an undisclosed amount of cash
the paris declaration did not state the levels at which central banks of the major industrialised countries would intervene
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
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
the issue is being lead managed by j
valex petroleum inc valp year dec 31
federal funds were trading at 7 1 8 pct down from yesterdays average of 761 pct
but he maintained progress was being made in the sweeping talks with the unites states that got under nearly two years ago
president reagan said the united states must do more to lessen its reliance on imported oil
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
ecuador deputy minister seeks oil aid in venezuela
despite its highly liquid cash flow akzo did not plan acquisitions on a scale that would negatively influence the companys debt equity ratio loudon said
the market is expecting uk wheat futures to show a similar loss at todays opening
tata iron and steel pre tax falls 37 pct
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
our forces are continuing their advance until they purge the last foothold occupied by the iranians it said
seipp also said securities trading activities had been considerably strengthened in london
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
bastian currently holds 253700 cosmo common shares or five pct of the total outstanding
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 value of non residential projects rose 76 pct to 9276 mln dlrs in the month
the us house of representatives approved a bill that requires the reagan administration to provide congress with a report on its gulf policy but does not place any restrictions on its actions
subscriptions close april 8 and payment date is april 27
however it expects growth to recover next year to the 1986 level of two pct
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
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
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
but another official denied local press reports that the central bank itself had asked investors to moderate their dollar sales
nippon life seeking tie with us securities house
aristech added that phenol production will increase to 610 mln pounds per year from 585 mln pounds a year now
it is indeed possible that dingman sees this as a low risk opportunistic investment voytko said
net international reserves now total about 800 mln dlrs compared to 154 billion dlrs a year ago
furthermore merrill lynch economics analyst david horner said g 6 central banks havent yet shown the full force of their commitment to the paris accord
wesco financial corp wsc 4th qtr net
tomorrows surplus is attributable to excess bank holdings from sales of yen to buy dollars and to huge cash amounts to be redeposited at banks after the current financial year end today the traders said
it has resulted in great losses of cultivated farmland it said
personal tax and nontax payments fell 55 billion dlrs in february following a 195 billion dlrs january drop
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
agl said it will make the same offer for tmocs convertible notes
bad weather closes alexandria port oil terminal
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
both organisations called for stepped up bank of japan intervention to stabilise exchange rates
us japanese join to bid on kansai airport
in 1986 japanese imports and exports with the ec both grew by around 50 pct in dollar terms five pct in yen
the spokesman said the march calendar would be flexible to take account of market conditions
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
one possibility is that baker might turn to george gould who holds the number three treasury position of under secretary
the stock market has appreciated sharply and discounted future corporate earnings extensively corchard said
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
nl industries inc nl 3rd qtr net
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
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
that means were going to have to work on our twin deficits both the budget deficit and the trade deficit regan said
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 net ratio at 26 pct left the group strongly placed to pursue its further development
prudential bache properties inc and graham energy ltd are general partners
moodys assigned a ba 3 rating to its convertible preferred stock
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
gordex minerals locates canada gold deposits
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
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
the formal name of the borrower is banca nazionale del lavoro london branch through the law debenture corporation plc the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
for congress to allow the takeover game to continue unchecked would be economic suicide champion international corp chairman andrew sigler added
ford motor co selected scicon corps systems control unit to install a manufacturing automation system at fords hermosillo mexico plant scicon said
denman told rostenkowski an illinois democrat he backed aspects of the bill such as one backing new talks under the gatt and one excluding protection for the textile industry
the par value of bills outstanding was 8007 mln dlrs at march 31
national fuel gas nfg sets split higher payout
this would entail an increase by each side of 350 to 400 mln stg over their present export levels
uk money market receives no morning assistance
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
the united auto workers uaw union said it supports chrysler corps proposal to buy american motors corp as creating a good match that potentially points the way to a more secure future for workers at both companies we believe our members interests can be well served within the chrysler family and we are committed to making that happen uaw president owen bieber and vice president marc stepp said in a statement
taiwan imposed currency controls today in what bankers called a desperate move to prevent speculation as the taiwan dollar appreciated against the us currency
but british officials are now trying to dampen anti japanese rhetoric to try to keep developments under control
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
the federal communications commission approved the sale last december gencorp said
between february and october of 1986 the number of producing oil wells in california fell 14 pct to 43521 from more than 50000 said bill guerard of the california energy commission
last december bankamerica and wells fargo announced a definitive agreement on the sale at a price of about 100 mln dlrs subject to adjustment
el paso electric elpa reaches new mexico 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
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
my aim will be to keep it there over the years ahead lawson said
swiss economy in excellent condition oecd says
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
ici will hire 145 new salespeople by october one
the basic trend in the currencies is higher said anne parker mills currency analyst with shearson lehman brothers inc
mangood corp mab year oper loss
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
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
over the next two days it expects 4 01 4 02 due 34 34 scheduled to transit 41 39 end day backlog 34 29 average waiting time tomorrow super tankers regular vessels north end 25 hrs 11 hrs south end 24 hrs 31 hrs
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
mcclain industries mccl sets stock split
it said total crushing capacity for members was 25873904 bushels vs 25873904 last week and 25459238 bushels last year
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
the bulk of this will arrive during feb may ahead of the april elections and the religious ramadan festival throughout may it said
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
hughes conserdyne corp a unit of hughes capital corp said it made bear stearns and co inc bsc its exclusive investment banker to develop and market financing for the design and installation of its micro utility systems for municipalities
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
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
in pretoria reserve bank governor gerhard de kock termed the agreement a good deal for both south africa and the banks
this compares with 200 mln dlrs earmarked for debt repayment in the year ending june 30
the major thrust programme will therefore be better water irrigation management
corning glass works glw unit transfers stock
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
raised were the units senior secured denver industrial revenue bonds to b 1 from ca and subordinated debt to b 3 from c
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
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
fed funds hovered at 6 3 4 pct after averaging 680 pct yesterday
reimpell said the original investment in the project will be approximately 8 billion bolivars
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
almost 200 dead in ferry disaster
agriculture ministry officials have forecast a 1987 88 cotton harvest of about 200000 tonnes down from 215000 in 1986 87
shr 22 cts vs 45 cts net 3100000 vs 5100000 revs 1034 mln vs 982 mln
it is the maekawa report which has attracted the most attention in europe and europeans and americans want quick action
in january seasonally adjusted unemployment fell by a revised 1100 to 113 pct it said
the company said the increase reflects current market conditions
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
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
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
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
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
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
the agency cut the senior debt of baker and its finance unit baker international finance nv to baa 1 from a 2
an inverse floater tranche has an average life of 1127 years and matures 2016
piccadilly cafeterias inc picco 1st qtr net
white house spokesman marlin fitzwater told reporters late last week that the administration still did not like some of the bills provisions but he added generally we feel very good about the bipartisan consideration of the trade legislation
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
geplacea officials say this is the main cause of low prices
usair u seeks two billion loan for takeovers
macandrews and forbes holdings bids for revlon
the move is part of our government efforts to encourage imports from our trading partners particularly from the united states he said
shr loss one ct vs loss one ct net loss 89844 vs loss 85731 revs 3384726 vs 4646285
control data cda to buy peripherals stake
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
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
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
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
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
it said its consulting operations now provide a platform for major future expansion
carson pirie crn to start proxy mailing
the company said its primary focus of 1987 spending would be to modernize and automate its pipelines for greater efficiency
dollar opens at a record low for tokyo at 14580 yen dealers
west texas cotton crop unscathed by storm
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
the increase in us banks prime rates prompted concern about renewed inflation but the strength of the us dollar discouraged new buying
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
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
canton serves customers in northeastern penn
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
the package includes a 250 mln mark five year straight eurobond with a 5 3 8 pct coupon priced at par led by dg
foodarama supermarkets inc fsm 1st qtr jan 31
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
merrill lynch says proration factor for supermarkets tender is 8566 pct
asbestec to buy contractor receives contract
first city bancorp said two subsidiaries sold 54 mln dlrs of energy related loans and loan participations to prudential bache energy growth fund lp g one the loans were made by first city national bank of houston and first city energy finance co to energy related entites that have had difficulty complying with first citys original loan provisions the company said
they said the cost to the economy had been too great
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
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
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
with 81 pct of the membership voting 545 pct voted no and 455 pct voted yes the union said
products made at the plant represent less than 1 10 of one pct of du ponts annual sales it said
terms of the acquisition were not disclosed
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
what is important is that we attempt to maintain healthy returns to capital and adopt policies encouraging genuine economic growth he said
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
this compares with its forecast of a shortage in the system today of around 700 mln stg
the rating agency cited harcourt braces recent aggressive acquisition activity and increasing leverage
a lot of people may be inadvertently under withholding taxes from their paychecks he said
while some analysts estimated the company was worth in the mid 30s at least one said it would be worth 38 to 42 dlrs
uk smelter capper pass denied rumours that the company had declared or was about to declare force majeure on lead deliveries
intercon security employing 850 people provides a full range of security equipment and services jannock said
it said prince a lowell mass producer of pasta and italian food sauces is expected to account for 210 mln dlrs of this total
of course these are our proposals for talks with creditors
farmers incomes fell 11 billion dlrs in may after decreasing 67 billion dlrs in april due to lower farm subsidy payments the department said
the car sector accounted for 151 billion marks of turnover against 163 billion the year earlier it said
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
allied dunbar reported a 51 pct rise in life annual premiums to 39 mln stg
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
brazil is a special case but theres no doubt they would not be in the mess theyre in if they had not screwed up their economic policy a senior official added
he said teams had already been to south korea and taiwan to encourage direct use of the exchange while a delegation would also visit europe mexico and some latin american states to encourage participation
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
details of the plan have not been made public
he told reporters the phlx will open a new session between 1900 and 2300 hours us est from the beginning of the third quarter this year
the 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
the bank said that of last years 19 new government bond issues nearly two thirds were for maturities of less than 10 years
we have not been approached by mr
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
that requirement excludes claims against independent petrochemical
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
electrical machinery orders rose in february by 82 pct to 172 billion dlrs after falling 154 pct in january
the international monetary fund said it has loaned uganda 921 mln dlrs to aid in economic recovery
qtr ends jan 31 shr two cts vs two cts net 78537 vs 72364 revs 626942 vs 640030
no immediate plans to close refinery esso saf
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
sears savings has 66 billion in assets and 91 branches predominantly in southern california
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
only 15 pct of the victims reported eating raw infected hamburger
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
kuranari was widely expected to fly to washington tomorrow for talks focussing on trade
mobil raises singapore petrol pump prices
bankers trust co said it is raising its broker loan rate to 7 1 2 pct from 7 1 4 pct effective immediately
duties royalties and taxes rose to 137 billion dlrs against 85272 mln in 1985 and gosper urged the government to move quickly to lift costly and unnecessary regulation
whatever decision we arrive at will be guided by our collective will to keep the market strong he said
first quarter growth is put at a 24 pct annual rate slowing to 21 pct next quarter
monetary policy should aim for further interest rate cuts and avoid rises to boost the economy and discourage revaluation speculation
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
in 1986 new products introduced within the proceding 36 months accounted for more than 65 pct of our major equipment order activity he said
fnma had said the offering was a reopening of a 1972 20 year issue
argentine 1986 87 grain oilseed registrations
lowrance electronics leix sees orders off
south korea ran a trade surplus of 73 billion dlrs with washington in 1986 sharply up from 43 billion in 1985
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
talking point santa fe southern sfx 
shell oil co of houston has been awarded a 1043 mln dlr contract for jet fuel the defense logistics agency said
helen of troy hele files convertible offering
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
us business loans rise 377 mln dlrs in march 4 week fed says
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
he estimated a price of 75 dlrs a share
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
us farm policy debate could hit senate soon
petro canada to drill two terra nova test wells
the shares closed up two yesterday at 90 1 2 a new 52 week high
canada oil industry set for recovery analysts
northeast utilities nu year
corn use in feed output in 1986 87 rose to 1171 mln tonnes from 1102 mln a year earlier due to low import prices
shell canada is 72 pct owned by royal dutch shell group rd
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
agriculture is an efficient sector of the european economy and will remain so if the right policy is pursued within the community he said
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
at the moment we have a sideways movement in the short term rates
he said spains current wave of strikes mainly affected the state sector where the government is trying to impose its five pct wage ceiling
the deal is being sold through the bank of new zealand and is guaranteed by new zealand
lyng said the us made a case that us corn imports are not the cause of any problem of canadian corn producers adding that us corn exports to canada are declining
initials plus iinc sees sharp sales increase
the problem goes deep and centres on misunderstandings by both sides over the key maekawa report of april last year
shr 55 cts vs 24 cts net 19 mln vs 800000 revs 176 mln vs 128 mln
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
interco establishes 50 mln dlr revolving facility
italian treasury certificate offer closes early
the imports had caused producers heavy financial losses it said
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
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
diplomats said it had been hoped that the summit could have injected fresh impetus into those talks
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
it did not give details
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
it is only with great regret that we have taken this route but we have had no political help and therefore have no option even though it could take years pex added
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
the federal governments holdings rose 700 mln marks to 51 billion
argentine maize soybean forecasts fall
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
conable linked an increase in world bank lending to indonesia to implementation of further economic policy reforms
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
mexico on the other hand dropped to 13 16 from 14 16
echoing gavirias words jorge cardenas manager of the national coffee growers federation said colombia sought to adapt its coffee marketing policy to circumstances
financial corp fin not holding buyout talks
holiday hia units notes downgraded by s p
the price decrease follows sharp declines in heating oil prices in the spot and futures markets traders said
the swiss national bank bought dollars against yen today a spokesman for the bank said
altex resources ltd year net
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
terms were not disclosed
johnson products inc jpc 2nd qtr feb 28 loss
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
the bank said provisional figures showed net registered private and public capital imports of 103 billion crowns in february
there is no problem in financing it the prepayments constitute about 15 pct of current international reserves of 25 billion dlrs 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
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
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
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
bp bp starts bid for standard oil srd shares
he also said he would prefer to see canadians participating in any privatization but would not give any details on timing of a sale
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
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
japan sets aside yen funds to prevent dlr fall
after an onslaught of new paper fewer mark eurobonds issues are expected this week bankers said
imf loans uganda 921 mln dlrs
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
the average yield on the three month bills was the highest since february 9 when it was also 572 pct
computer technology cmnt networking device
the facility is 200 mln dlrs underwritten at a maximum of five basis points over the hong kong interbank offered rate
sony foresees continued slump in earnings
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
theyve pulled back so as not to be a commodity marketer said gormley
meritor savings bank launches 200 mln dlr bond
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
the conditions represent a premium of about 145 dlrs an ounce to the current gold price
brown group inc bg votes regular dividend
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
the first transaction a 120 mln stg credit will be arranged by nm rothschild and sons ltd and bank of tokyo international ltd on behalf of a special purpose greycoat subsidiary yet to be incorporated
computer associates ca sets two for one split
national australia bank plans 75 mln dlr cd issue
dyr liquidating dyr sets liquidating payout
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting
increases follow a general trend in the industry started yesterday by sun co
its not at all inconceivable that the fed didnt add as much as they wanted to because of the shortage of collateral said ward mccarthy of merrill lynch economics inc
harsco corp hsc sets quarterly
spendthrift farm sfi to miss note payment
the central banks monetary policy has already done its part in stimulating the economy the senior bank official said
gulf arab states move towards economic integration
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
eli lilly and co told the securities and exchange commission it cut its stake in liposome co inc to 500000 shares or 40 pct of the total outstanding common stock from 900000 shares or 73 pct
exchange rates generally are regaining stability and the economies of industrialised nations are heading for a steady recovery he said
assistant us treasury secretary david mulford said rapid progress was being made in talks with commercial banks for loans to argentina the philippines and brazil
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
as a result of the agreement the court removed a previous temporary restraining order against twa the company said
rambaud said he forecast a 1987 parent company net profit before provisions of around 135 mln francs
members of the goldstein family have accepted the offer for 117 mln shares which have not been underwritten
accord said in sight in brazil seamens strike
eishiro saito chairman of the federation of economic organizations keidanren said the yens present rate is well above adequate levels
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
del laboratories inc dli 4th qtr net
national bancshares corp of texas said it has completed the previously announced sale of 90000 credit card accounts of to lomas and nettleton financial corp lnf for 456 mln dlrs resulting in a gain of 5800000 dlrs
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
the group includes senior management of service america but no officers of allegheny beverage the company said
group profit after net interest items 742 mln crowns vs 741 mln
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
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
henley group inc heng 4th qtr loss
norwegian business at an early stage started restructuring its relations with south africa in anticipation of the law
previously it dclared a special interim dividend of 42 cts for january 1 to march 9 in connection with its recently completed offering
taiwan plans new tariff cuts
ec wheat release unlikely to satisfy uk demand
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
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
it said it was not ready yesterday to take a stand but did not say why
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
the offering and withdrawal rights expire april 29 unless extended
circon corp ccon 4th qtr
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
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
payment date is also april 7
tin council allowed appeal on use of documents
prime rate is six pct
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
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
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
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
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
royex gold mining rgmto 2nd qtr march 31 net
pan ams pn main unit to report smaller loss
demand has been surprisingly good in 1987 in construction and other areas yearley said
acme precision has 1008857 shares outstanding
fortune systems makes a desktop computer systems
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
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
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
murren said that despite the downturn in sales last year wendys real sales store for store turned upwards in the fourth quarter
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
this would be done by seeking agreement among major exporting countries including the european community on market sharing at agreed high prices
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
shr 88 cts vs 73 cts net 2580000 vs 2147000 nine mths shr 248 dlrs vs 233 dlrs net 7266000 vs 5948000
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
both are rated baa 2 by moodys investors service and bbb by standard and poors
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
the brazilian coffee institute ibc has given shippers until close of business on thursday to submit details of past export performance in order that individual quotas can be allocated an ibc spokesman said
the soviet union which was to take 400000 tonnes later agreed to take the full production
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
texas american tae omits preferred payout
such a merger would be complex and analysts said it would result in an airline iwth an 18 pct market share
at the borrowers request terms will not be disclosed until later this week when bankers expect the syndication to close
details of the program and an invitation for offers from exporters will be issued in the near future it said
chiles 15 1 2 year rescheduling accord at one percentage point over london interbank offered rates libor and venezualas 21 billion dlr package at 7 8 point over libor portend well for the philippines despite brazils repayment suspension last week the officials said
gephardt a missouri democrat has not decided the exact form of his amendment an aide said
herringtons proposals to spur production were made along with the release last week of the energy departments report on energy and the national security
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
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
a miti official said the ministry has conducted a survey of foreign exchange trading by trade houses and exporters
the icelandic government said it will privatise the state owned bank utvegsbanki the countrys second largest
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
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
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
sea containers ltd scr 4th qtr loss
cyclops cyl holders approve dixons merger
uk central bank warns of excessive rate cuts
willis shares were suspended on friday at 437p
oper shr 70 cts vs 18 cts oper net 391 mln vs 100 mln sales 5436 mln vs 4896 mln year oper shr 283 dlrs vs 182 dlrs oper net 1597 mln vs 1069 mln sales 213 billion vs 194 billion avg shrs 564 mln vs 586 mln note results restated for discontinued engineering services operations
the transportation agency said air north america also failed to show that there are barriers that would prevent new entrants into those markets or prevent other carriers from increasing their service
the payment date is may 14 and the coupon date may 15 amro bank said
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
capital markets in the arab world are still in their infancy he said
qtly div 42 cts vs 42 cts prior pay april seven record march 20
the brazilian government announced suspension of interest payment on part of its 109 billion dlrs foreign debt on february 20
urs corp urs 1st qtr jan 31 net
seamans strike continues marines unload ships
virginia
it said aon is a gaelic word meaning unit
because the closure takes place in summer months when gas demand is at seasonal low the impact on cash flow would be small curt launer natural gas analyst with donaldson lufkin jenrette said
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
us energy secretary rules out gasoline tax
jp morgan places 13 billion dlrs of medium and long term brazil loans on non accrual
shr 52 cts vs 45 cts net 2623000 vs 2256000 nine mths shr 155 dlrs vs 145 dlrs net 7744000 vs 6542000
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
trump said he would not tender for the 57 mln shares of publicly held class a stock
ameriana savings bank asbi 4th qtr net
sesostris sells 18000 tonnes barley to greece
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
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
the west german discount rate remains at 30 pct and the lombard emergency financing rate at 50 pct
there is a 1 1 2 pct selling concession and two pct combined management and underwriting fee
el paso electric said it does not expect to have excess generating capacity
canada threatens ban on danish pigmeat imports
peter marcus of painewebber inc is neutral on the group although he said the earnings outlook is improved through the third quarter
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
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
nazer said he was satisfied with the extent of cooperation from non opec producers
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
sonex said its engine is not equipped with a catalytic converter and does not use exhaust gas recirculation or an emission air pump
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
schlumberger would not have terminated the deal because the us government didnt want it said johnson of lf rothschild
creditors debtors share responsibility weizsaecker
rafsanjani who is also parliamentary leader predicted last friday a river of blood throughout the world in the event of any us strike against iran
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
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
fortune finl forfo unit makes acquisition
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
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
total liabilities in january were 1108 trillion dlrs compared with 1112 trillion dlrs in december
french trade with yugoslavia has grown little over the past two years
they will be listed on the london stock exchange
halcyon said it might buy more stock or sell some or all of its current stake
this follows a cutback of more than 20 pct in the first three months of the year
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
magma lowers copper price 050 ct to 6550 cts
philips dupont optical co is arranging a 145 mln dlr three year transferable loan facility chemical bank international ltd said as agent
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
year to date jeep output was 58597 compared to 56801
februarys production figure fell slightly short of ypfs target figure of 290 mln cubic metres
but the group said it might buy more moore handley shares
additional preferential dollar premiums put the total cost at 747 billion not including interest payments
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
the study predicted demand rising by 300 tonnes to 13200 tonnes this year against a 50 tonne increase in supply to 14050 tonnes
financial corp fin unit buys branches
icco council agrees cocoa buffer stock rules
spectra physics rejects ciba geigy tender offer
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 75 pct cut from planned production implemented since february reduced norways oil output by about 80000 bpd
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
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
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
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
in the first two months quaker opened about 25 new stores
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
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
bass is known for its high quality casual shoes
the annual report gives cotton traders their first glimpse of what us production might be in the 1987 88 season which begins august 1
merrill lynch officials did not return phone calls
so far this year only five exploratory wells have been drilled
lufthansa said it carried 13 mln passengers on north atlantic routes in 1986 a rise of 14 pct over 1985
it said it expected west germany to post a 31 billion dlr payments surplus and japan a 76 billion dlr surplus this year
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
year on year finnish consumer prices fell to 35 pct in february 1986 from 37 pct in january and 46 pct in february 1985 the central statistical office said
yugoslavia is to negotiate a long term restructuring of its debt after missing repayments in recent months mikulic said
qtly div eight cts vs eight cts prior pay may 18 record may one
proceeds will be used to repay 60 mln dlrs of debt
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
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
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 italian treasury said annual coupon rates payable march 1988 on two issues of long term treasury certificates ccts would be cut by about four percentage points compared with rates this march
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
s korea minister to visit us for currency talks
it also said the issues are being drawn from unocals shelf registration statement filed in december 1985
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
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
ldp executive council chairman shintaro abe will explain the plan to us officials when he visits the us on april 19
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
bay financial corp bay 3rd qtr feb 28
no underwriter was named
paralax vido agrees to acquire american video
enro holding is owned 50 pct by investors and 50 pct by management and others
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
volcker told committee chairman fernand st
but i would like to see further progress made on this whole situation brazil announced last month it was temporarily suspending interest payments on 68 billion dlrs of debt owed to private banks opening a new round in the five year old debt crisis
stoltenberg declines comment on currency zones
the united states said both platforms were being used to keep track of gulf merchant shipping and to launch speedboat attacks on such shipping by iranian revolutionary guards
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
the offering will be managed by sutro and co inc zehntel said
the selling has been steady over the past couple of weeks
the operation will put the outstanding bill supply at about 3200 billion yen
accruals of borrowings under the exchange cover scheme were 361 mln dlrs last month after 36 mln in february
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
cool and rainy weather slowed beet growth in denmark and crop prospects are rated as slightly below normal
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
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
the subsequent shift from shares to bonds could cause major falls on the world stock markets
the companies said the previously announced merger has been approved by ti caros board and is expected to close by early april
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
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
american express raises qtly dividend to 38 cts from 36 cts
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
bin qasim shanghai 25000 mt pig iron 1500 fhex 1200 shex 1 10 4
taiwans new controls on currency inflows implemented today are a desperate bid to stem a flood of speculative money prompted by the local currency surge against the us dollar local and foreign bankers said
telxon corp tlxn sees higher revenues
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
heublein also said almaden wines will continue to be marketed and sold by a separate marketing and sales force
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
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
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
also excludes 1986 full year gain of 80 cts per share from accounting change
act in respect of any dividend paid by unilever plc has to be treated as part of the dividend
italian treasury details new bill offer
it said the issue will be the first such bond issue in hong kong by a local organisation but gave no more details
there are measures which are under consideration if we continue to suffer from the imbalance in our trading relations he added but gave no details
the 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
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
other bankers took exception with the degree to which mtns will grow
sainsburys taking control of shaws supermarkets
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
non performing assets totaled 124 billion vs 799 mln
however employers did not favour a devaluation of the peseta to correct the imbalance
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
the 65 kresge stores that are scattered around the country in downtown and suburban locations he 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
king fahd of saudi arabia in an interview with and visnews on march 11 said the kingdom wanted oil price stability and called on non opec producers to avoid harmful competition with opec
the 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
he said the company does not break out operating earnings by unit on a quarterly basis
the average yield on the three month bills was the highest since 599 pct on june 30 1986
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
sterling drug inc sty increases payout
some traders believe the main quality problem is with harvesting and fermentation techniques
usda reports export sales activity
it may drill a further three wells before the end of the extended exploration period the statement 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
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
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
kuroda said the us decision was based on incorrect data and an exaggerated sense of mitis power to control market forces
an official for pechiney said an agreement of intent on packaging could be signed soon but could not give any other details
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
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
he declined to give further details
the company added that results in the us were poor and the deterioration in the south african economy left its falkirk industries unit with a loss of one mln stg
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
poland has a dwindling trade surplus with the west
the issue is non refundable for 10 years
the agency received in london said the accord was reached between iranian oil minister gholamreza aqazadeh and a visiting ghanaian delegation headed by foreign minister obed asamoah
alusuisse had originally reported a 692 mln francs loss for 1985
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
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
morgan grenfell acted as merchant banker to guinness during the brewing companys successful bid for distillers co plc distl in the first half of last year
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
the two companies manufacture linerboard and boxboard from recycled fibre
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
he was in defiant mood last night telling turkish radio we can never accept that greece should confine us to the anatolian continent
the company named painewebber merrill lynch and montgomery securities as underwriters
domestic gasoline demand during the year was up 25 pct from the previous year according to a miti report
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
the dollar rose as high as 14750 yen
diamond shamrock dia raises crude postings
charts signal bullish breakout in debt futures
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
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
key futures volumes as detailed by liffe were feb87 jan87 feb86 long gilt 424865 525354 134420 eurodollar 140417 100941 81648 short sterling 94720 87619 67640 t bond 84694 87980 133766 ft se 22109 15279 8181 currencies 2799 2112 7737 short gilt 74 85 6516 key options volumes as detailed by liffe were feb87 jan87 feb86 long gilt 44640 54329 eurodollar 3580 1720 2844 t bond 1737 3479 sterling 1466 2223 18191 ft se 1277 657 total options 52700 62408 23238 long gilt t bond and ft se index options were not trading in february 1986
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 iwc outlines three courses of action open to governments in wheat exporting countries
alfin inc afn 2nd qtr jan 31 loss
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
afg industries inc afg quarterly dividend
the seven year certificates carry a first year coupon payable april 21 1988 of 486 pct identical to that on the preceding issue in march
he said philippine copra cake contained much higher levels of aflatoxin
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
bank of japan to sell 800 billion yen in bills
hutton values the warrants at two to three dlrs per share
tonight a spokesman for usair said the airline had no comment on twas lawsuit
us export inspections in thous bushels soybeans 7209 wheat 15187 corn 25347
the us trade shortfall with taiwan was 16 billion dlrs in january up 244 pct from a year earlier
about 758000 bales from 1985 86 contracts were shipped up to february 2 in 1986 87
money supply growth was 114 pct last year
in the first quarter of this year sales were hit by the cold weather at the start of the year
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
wind and waves will not diminish until late in the weekend
on tuesday the ministry allowed long term bankers to cut their prime to a record low of 55 pct effective february 28
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
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
gaf has offered 46 dlrs per share
the only thing the manufacturer cares about is that the dealer sells those cars
the other joint bookrunner is yasuda trust and banco di sicilia is co lead
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
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
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 company said salomon brothers inc first albany corp and wheat first securities inc would underwrite the offering
underlying sentiment for the dollar remains bearish due to a still sluggish us economic outlook the international debt crisis triggered by brazils unilateral suspension of interest payments on its foreign debts and the reduced clout of the reagan administration as a result of the iran contra arms scandal said a senior dealer at a leading trust bank
the firm named goldman sachs and co and merrill lynch capital markets as managers of the offering
pakistan to tender for rbd palm olein tomorrow
the acquisition proposals had come from theodore l
the issuers outstanding securities are rated a plus by standard and poors corp
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
daiwa international europe ltd is the other joint book runner
net in nine mths 1986 includes income from discontinuing operations of 101 mln or nine cts per shr and income of 39 mln dlrs or four cts per shr in qtr 1986
grade 97 octane with 015 gm lead will be 968 cents litre against 94 cents previously for 04 gm lead
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
texas american bancshares txa to sell unit
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
audis worldwide car deliveries fell two pct to 363000
there is a sliding scale which gives relatively modest applications a higher proportion and those who sought between 101 and 500 shares will receive five
the surplus has boosted foreign exchange reserves to 50 billion dlrs which wang said made taiwan a target for us protectionism
it said the court order prevents zico from buying any shares tendered to them during the offer which began on feb
french february unemployment hits record 265 mln
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
new interest rates on two year and one year deposits at banks for example will be 364 pct and 339 pct per annum respectively
silicon valley bancshares said it declared a five pct stock dividend payable may 1 to shareholders of record april 1
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
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
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
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
systems for health care inc said it repositioned the company through a one for 50 reverse stock split
in paris trade minister michel noir said france has decided to give japan a taste of its own medicine
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
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
economic spotlight us congress raps japan
uk average earnings rose 76 pct in january underlying rise 75 pct official
he said exports could surpass the average annual 18 mln bags mark especially if the final harvest to be conducted in october and november confirms the crop at over 35 mln bags
japan has already lowered the duties sharply and we must consider domestic market conditions an official said
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
neither palomino nor conades general manager enrique estremadoyro were available for comment on whether foreigners would be allowed to purchase the companies
the printer called primage 90 gt is priced at 1500 dlrs and can be combined with the companys paper handling systems primage said
del webb wbb unit sells joint venture stake
houston lighting recently exchanged 390 mln dlrs of high coupon bonds for nine pct bonds saving about 11 mln dlrs in annual interest costs
avco financial has 25 billion dlrs of debt outstanding
canadian imperial bank lowering visa rates
terms were not disclosed
orion capital corp said it acquired 163000 shares of twin disc inc common stock or 52 pct of the companys common stock outstanding
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
when you cut sugarcane you dont even have to produce sugar he said
science accessories seaso ends purchase talks
continuing care associates conc 4th qtr net
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
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
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
while no one is going to cede national sovereignty we certainly seem to be moving towards much closer co operation another us official said
internchange financial services isbj payout up
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
wilson said his members are holding stopwork meetings this morning to consider further stoppages over their pay claim
the company spokesman later said the charges will be insignificant and will have no impact on earnings estimates
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
shipping serving kuwait has come under repeated attack by iran angered at the emirates war backing of iraq
astro med inc alot 4th qtr net
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
this would give mannesmann around 75 pct of fichtel und sachs
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
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
some 800 houses were flattened and 19 boats sunk it said
rotterdams main grain terminal closed by strike
us economist calls brazil debt request modest
wall street stocks marion labs mkc 
exports in 1985 86 at 6036 vs 6008 last month
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
by the end of the year he said 90 pct of the companys subscribers will be carried on its fiber optic lines instead of leased att lines compared with 60 pct by the end of the second quarter
they also regarded the treatment of credit exposure to local governments and other public sector entities and of exposures undertaken by banks that are subsidiaries of banks
members states of the organization for economic cooperation and development have pledged not to offer concessional credits on manufactured products sims said
the four institutes disputed the view that monetary expansion would slow of its own accord in 1987 as domestic investors switch liquidity into longer term capital market investments following lower interest rates
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
united a savings bank with 607 mln dlrs in assets and 23 offices will operate as a wholly owned subsidiary rainier said
bally also acquired from golden nugget various parcels of real estate in atlantic city it noted
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
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
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
union secretary sam jennings said weve got two days of talks
eurosterling looks like a cheap and attractive way to raise your money he added
xyvision inc xyvio 2nd qtr september 26
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
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
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
hydro quebec issues canadian dlr bond
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
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
northeast savings fa nsb 2nd qtr net loss
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
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
darmans strength was not as an economist but as a political strategist and thats bakers strength too the official said
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
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
fees comprise 1 1 4 pct selling concession and 3 8 pct each for management and underwriting
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
mony real estate investors mym 3rd qtr feb 28
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
taiwan announces new round of import tariff cuts
nzealand reserve bank gives bond tender details
concord fabrics inc cis 2nd qtr oper net
benguet corp be calendar 1986
the company said it invested 209 mln dlrs in property plant and equipment in 1986 up from 181 mln dlrs in 1985
democracy in latin america must not be endangered because of misery or new injustices he said
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
narrowly defined year on year m 1 growth was 1589 pct against a revised 2752 pct in november and 123 pct a year earlier
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 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
the important thing is the exchange rate taketomi said
on tuesday the world bank approved two loans totalling 310 mln dlrs to help the countrys economic recovery program
of a total 11254837 erodoble acres submitted usda accepted 10572402 acres into the program at an average rental payment of 5117 dlrs per acre
twa stock fell 3 8 to 30 5 8
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
endotronics said at its present reduced level of operations it will exhaust all currently available cash and credit facilities in early may 1987
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
sanwa bank looks to securities world operations
its glasstite inc subsidiary also manufactures and sells utility truck bodies
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
parent company pre tax profit increased to 172 billion from 162 billion
fees are 1 1 4 pct for selling and 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum
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 
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
triquint makes gallilum arsenide integrated circuits
the firm liquid and gas transport bv lgt employs 10 people and has a fleet of 200 gas containers
equicor provides employee group plans to 1500 corporations nationwide
shr profit seven cts vs loss 24 cts net profit 650000 vs loss 2327000 revs 343 mln vs 370 mln nine mths shr profit 38 cts vs profit 67 cts net profit 3673000 vs profit 6474000 revs 1084 mln vs 1100 mln note 1987 qtr and nine mths includes gain 5360000 dlrs or 55 cts per share and 6339000 dlrs or 65 cts per share respectively from realized gains on investments
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
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
banks are being invited to join at 20 to 25 mln stg for 12 1 2 basis points at 10 to 15 mln stg for 10 basis points and at five to 75 mln stg for 75 basis points
the agency said it uses the d grade for securities issued by companies in chapter 11 reorganization
it said it will retain the mayo two site for later development of a generating unit
if the tender offer is successful warburg wll own about 59 pct of symbion
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
japan february consumer prices unchanged 04 pct january drop official
nazer said the output level did not mean the kingdom had returned to a role of swing producer within opec
under the merger agreement remaining shareholders of hayes a jackson mich based maker of auto supplies will receive 13 dlrs cash for their shares
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
it said there can be no assurance that any transaction will result from the talks
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
it said the offering is expected to raise in excess of 350 mln canadian dlrs and will be completed by the end of september
it suggests that while the uk is not actually applying to join the european monetary system it is seeking protection by shadowing it the bundesbank has made it clear that it wants the uk to clarify its position relative to the mark he said
quite possibly it can be achieved johnson said the paris agreement achieved a better alignment of exchange rates in exchange for stimulus by the major surplus countries
but the official expressed deep misgivings that such a plan would work in the united states
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
under this proposal it sought to defer interest payments until june at the earliest foreign bankers and government officials here said
wickes cos inc said it has completed the purchase of dura corp for an undisclosed amount
chase manhattan corp cmb and jp morgan cos jpm morgan guaranty trust co asked for deposits to cover transactions it said
invacare corp ivcr 4th qtr net
prior year net both periods excludes gain 1998000 dlrs from reversion of overfunded pension plans
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
the dramatic fall in oil prices last year was responsible for the slump
japan alerts gatt to south korea import plan
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
warnaco group inc eight mths jan three net
however the tonnage allocated to it 7000 tonnes is roughly equal to its expected output this year
moodys investors service said it assigned the following ratings to new eurobonds
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
these people have got trillions of dollars sloshing about and they dont know what to do with it
sainsbury shares had fallen five pence before the announcement to 590p from last nights close but were unmoved by news of the deal
the us agriculture department said private us exporters reported 200000 tonnes of corn previously to unknown destinations have been switched to the soviet union
rio de janeiros 3500 dockworkers went on strike for an indefinite period today to demand wage increases a spokesman for the dockers said
the company named kidder peabody and co inc as lead underwriter of the offering
shamrock capital lp a limited partnership led by shamrock holdings inc said it completed its sale of central soya co inc to ferruzzi agricola finanziaria of italy
when the agreements are finalized bralornes debt structure will be modified so that debt servicing requirements match available cash flow for each of the next three years
that would not be wise he said
last week it sold 455000 comdata shares
bankamerica also said that it had placed 180 mln dlrs of loans to ecuador on non accrual which will reduce first quarter earnings by about five mln dlrs
the companies feel otherwise
geo
the board is due to meet in indonesia in june with a full council scheduled for september
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
but it is also likely that such assistance would be provided to nigeria which is under pressure to extend discounts
movie theater magnate sumner redstone and a viacom management group are in a bidding war for viacom
aice officials are now hoping colombia can use its contacts with brazil to suggest a compromise
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
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
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
agip petroli a subsidiary of state energy concern ente nazionali idrocarburi said in a statement that the remaining 50 pct of the us firm is owned by steuart investment co a holding company that also operates in the sectors of transportation hotels and insurance
the government slashed development spending to 98 billion ringgit this year from 145 billion in 1986
the fourth loan for 10 mln dlrs is to improve family planning programs and health care
p and o plans warrant issue to mark anniversary
research and development were likely to rise 13 pct to 61 billion marks or around 12 pct of turnover
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
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
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
the company said goldman sachs and co may underwrite the deal
the shake up would strengthen the us position in future international talks
ncrs 1986 full year earnings rose to 3365 mln dlrs from 3152 mln dlrs in the prior year
the feds quarterly review of foreign exchange operations said that the us bought 50 mln dlrs through the sale of yen on january 28
amt will contest all three points
enterprises serves about 16000 access lines in lancaster county
shr 51 cts vs not given net 4661000 vs 2499000 note includes net securities gains of 663000 dlrs vs 12 mln dlrs from
in addition consumer products revenues were up from last year mainly because of including sales of rca video products
he said he believed brazil might be in a position to resume debt repayments within a year
it also said it is studying the 35 dlr a share leveraged buyout offer made by purolator managers and ef hutton lbo inc but has not decided whether it will tender its stock in the offer
whittaker corp wkr 1st qtr jan 31 net
this option may prove to be the most politically unattractive and would result in many producers abandoning wheat production the report said
but an enafer official reached by telephone in the central andean city of huancayo near chacapalca said traffic could be restored by saturday
the company said after it installs the new fuel system it will retest the automobile
new dutch bullet state loan at 6 1 4 pct due 1995
tocom also has five rubber trading sessions a day
basf reported 136 pct lower 1986 world group pre tax profit at 263 billion marks compared to 1985
malaysias special drawing rights rose to 355 mln ringgit at end february from 352 mln at end january and 286 mln at end february 1986 the bank said
jannock ltd jnto 3rd qtr net
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
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
capitol bancorp capb to restate net to loss
we cannot predict when the uncertainties that presently trouble us will end but we are confident we are managing them aggressively he added
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
brazilian monthly inflation dips slightly
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
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
a definite decision on wirsbo will be taken later this year
the proposal which needs approval by ec ministers would not force any member state to impose the ban
fi tek corp said it has signed a letter of intent to acquire voice systems and services inc for an undisclosed amount of stock
they recommended japanese firms be penalized through tariffs or import duties over the next six to 12 months for continuing to dump microchips
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
it said the debentures are being issued under a previously announced shelf registration
commodity exchange comex copper stocks climbed to 103000 tons in january from 93300 tons in december
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
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
the committee set a six to seven pct january through march annualized growth target for m 2 and m 3 and no m 1 goal
he noted unilever has been indicating plans to dispose of stauffer plus some smaller assets of chesebrough since the bid was made in december
january exports seasonally adjusted were 972 billion dlrs against 1039 billion in december and 1089 billion in january 1986
it said one proposed venture would produce aluminium packaging for food and cosmetics
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
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 
many see it as a true test of whether producers and importers will abide by the quota system
imports of capital machinery and foodgrains by the government were not included in the policy they added
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
he said the commerce department estimated us shipments of processed pollock products and herring should rise to 85 mln dlrs this year and to more than 300 mln dlrs annually in later years
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
armcos 1988 earnings could be significantly higher he said
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
corporate earnings will grow further in the first half of fiscal 1987 rising an estimated 107 pct it added
citibank norway unit loses six mln crowns in 1986
the wine business was sold last month for 128 mln dlrs to heublein inc part of grand metropolitan plc national distillers said
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
they pushed ahead with a recovery program without ensuring backing for their balance of payments position
demand good for moderate supplies of most beef cuts however limited interest noted for tenderloins flank steaks
favorable consumer response to our merchandise programs continued to positively impact our sales comparisons
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
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 
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
rsi corp rsic 2nd qtr feb 28 net
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
independent adviser wardley australia ltd had also concluded the offer was fair and reasonable it added
one analyst speculated an offer from gaf would be forthcoming shortly
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
stocks sept 30 1986 at 212 vs 212 last month
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
finally there is a shortage of lorries to transport the crops
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 partnership will acquire the refining and distribution systems currently owned and operated by champlin petroleum a wholly owned subsidiary of union pacific
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
german cost of living falls in march on year ago
amoco reports south china sea oil find
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
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
resturant associates industries inc raa 4th qtr
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
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
other analysts agree that the government probably has some broad target range around this area
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
other interest holders are csx corp csx and exaias resources corp
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
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
the purchase price will be paid in cash a national distillers spokeswoman said
mulford rejected gramms argument that faster domestic growth in germany and japan would result in an even lower dollar
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
1986 qtr includes charge 187 mln dlrs for write down of oilfield services equipment and offshore drilling rigs
suddenly instead of the us it is europe that is laying the golden egg said de hora
the house banking committee voted 45 5 in favor of a bill to raise five billion dlrs over two years to assist the federal savings and loan insurance corp
after learning of the appeals court ruling delta officials last night spread the word by telephone that western employees should report for work today in their old uniforms not in new delta outfits
the price of gold bullion and share prices of north american gold stocks are benefiting from continued weakness in the us dollar analysts said
uk money market given 345 mln stg assistance
a member of the federal reserve board robert heller said he wanted to see stronger japanese demand for american goods
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
payment is due march 18
indonesias wheat imports are expected to fall to 15 mln tonnes in calendar 1987 from 169 mln in 1986 the us embassys annual agriculture report said
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
federal express corp fdx offering of 200 mln dlrs of senior debentures due 2017 through kidder peabody and co inc
india reported buying two white sugar cargoes
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
the state tender of a new 625 pct eight year bullet indicates a week of active trading dealers said
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
pcri based in dublin california has a biotechnology research laboratory
they are mainly one off but they have burdened the annual accounts the company said in a statement
he said current third quarter results would be similar to 1987s second quarters loss of 12 cts per share
but there is no reason to be overly pessimistic he said
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
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
alusuisse made a net loss of 688 mln swiss francs in 1986 after a restated 756 mln loss in 1985
carney was outlining the governments new position on the farm trade problem that was tabled on tuesday in geneva in the multilateral talks under the gatt general agreement on tariffs and trade while few details were released carney said the government would also be pressing for an improvement in market access and new measures to ensure countries do not erect artificial barriers
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
grain traders sought to buy about 340000 tonnes
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
despite the softer undertone traders would remain wary of taking significant new positions during the washington meetings dealers said
revision would be decided by a majority vote of the icco council
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
level vi covers wheat entered after january 19 1984
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
output in 1986 fell from 415 mln tonnes in 1985 and a record 62 mln in 1984 official figures show
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
29 and march 9
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
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
miti has been moving hot and heavy throughout the industry to get things done said bache securities japan associate vice president peter wolffe
no price was disclosed by the company
if the elections go against the ldp nakasone may have to resign early shiratori said
rhode island democratic sen
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
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
the increase brings marathons posted price for west texas intermediate and west texas sour grades to 1750 dlrs a barrel
atcor inc atco cut dividend
base mixes for the january compound feed output included corn sorghum and soybean meal
american shared hospital services amsh year
the changes were made to better reflect local market conditions said ralph klopfenstein deputy administrator for commodity operations at usda
he was visiting new york for talks with investors
metropolitan financial mpc to acquire company
culp inc culp sets quarterly
analysts said canadian airlines with its newer fleet needs to make fewer replacements and can afford these without hurting profits
in private they blame us industry for being uncompetitive
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
fees total two pct with 1 1 4 points for selling and 3 4 for management and underwriting combined
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
but many economists say the system which holds eight european community currencies within narrow fluctuation bands remains in its infancy
the council of the australian petroleum exploration association apea said it will press on with its campaign for major improvements to australias petroleum taxation structure
what youre giving up under 0 92 is the difference between the loan rate and the cost of production collins said
ohio art co oar sets quarterly
also corrects quarter loss from discontinued operations
but like last year gas utilities could buck this trend s and p said
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
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
creditors debtors share responsibility weizsaecker
spartech said the debenture offering will be underwritten by kidder peabody and co
the senate will consider its version of the trade bill in may
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
extraordinary gain one mln vs nil
new italian treasury offer undersubscribed
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
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
the us has not said how much it thinks the taiwans and koreas currencies should climb
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
non refundable for 10 years the issue is rated baa 2 by moodys and bbb by s and p
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
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
rmj securities had offices in new york where total market turnover of us government securities was 110 billion dlrs a day and in london where it has 15 billion
us mint seeking offers on copper nickel
duff and phelps upgrades baxter travenol bax 
the interfuel swing market accounts for about eight mln barrels a day or 18 pct of the world demand for oil
japan says it trying to expand domestic demand
peres said the price policy of the orange juice was based on market conditions
the accord stipulated that current rates reflect fundamentals of the six nations britain canada france japan the us and west germany
glickman also said his committee will not approve usdas proposal to cut target prices by ten pct per year
usx x unit raises prices on certain grades
kg saur sells assets to reed international
subscriptions close march 18 and payment date is april 2
cyclops corp says cyacqs amended offer restates original conditions
they are public documents and there is nothing secret about it he told 
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
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
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
earlier this week midland said it would cut its standard rate of mortgage payment to 115 pct from april 1 following a half a percentage point reduction in leading banks base lending rates from 11 pct
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
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 
shr 56 cts vs 42 cts net 10030000 vs 7833000 sales 3921 mln vs 3396 mln avg shrs 17966000 vs 18709000
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
investor sells 10 pct rb rbi stake
united cos financial corp uncf 4th qtr net
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
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
the eventual turnaround in the monthly trade figures will reflect the impact of the decline in the dollar baldrige said
the combined sales and profit of the enlarged coloroll us business would be 67 mln and four mln dlrs respectively
he said the takeover fits into the companys drive for expansion in the us and canada and further acquisitions are possible
hog and cattle slaughter guesstimates
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
us soybean marketing loan not needed lyng
it added australia should reduce protection levels in manufacturing even though faster trade liberalisation would no doubt hurt the most protected sectors of industry
year ago oper excludes extraordinary gain of 121000
a decision on whether to seek legislation will not be made until 1987 output numbers are known late this year he 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
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
shr 231 dlrs vs 196 dlrs net 1190 mln vs 1010 mln revs 1003 billion vs 888 billion
uk money market given further small assistance
pemex will also have some lpg surplus available in salina cruz that may help japan diversify its supply sources of that product he added
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
net also includes tax credit of 64000 for year ago 12 mths
the jordan branch saw pre tax profit rise 80 pct in 1986 to 550332 dinars on assets of 126 mln dinars
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
he said the government and the international monetary fund had set the peso dollar 1987 target rate at 2080
he would not comment on whether a and p would make another offer to acquire delchamps
he declined to say if the current ceiling should be maintained or raised to 166 mln bpd for the third quarter and 183 mln for the fourth as provisionally agreed last december
us retail sales rose 477 billion dlrs or 41 pct in february to a seasonally adjusted 12229 billion dlrs the commerce department said
istat said the year on year fall reflected poorer performances in the footwear clothing textiles chemicals and metals industries
there were 603106 shares outstanding as of december 31
harleysville group hgic seeks to acquire firm
to 375 of the voting rights from 289 pct
anybody representing large groups of soybean producers would not be very excited about supporting a lower soybean loan oconner said
the department also announced an extension of the export period from september 30 1987 to december 31 for sales of vegetable protein meals
huttons offer was topped today by a 40 dlr per share bid for 83 pct of the stock from emery air frieght corp eaf
i would not characterize the atmosphere around here as one of concern one santa fe executive said about henley
harbour workers said they will strike for 24 hours on monday effectively closing all new zealands ports
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
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
the senior management of virginia federal was expected to continue in office after the conversion the companies said
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
rowley scher rsch to have loss for year
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
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
export development corps 15 billion yen of 4 1 2 pct euroyen bonds due 1992
it cuts directly to us and to our customers said bob wendt manager for economic studies at bethlehem steel corp
clearly any industry to which canadian governments grant rights to fish mine cut timber or produce power could be vulnerable to a finding of a subsidy under this language he said
chartered bank general loans outstanding fell 169 mln dlrs to 12603 billion dlrs
morrison knudsen mrn sees year net falling
credit lyonnais will lead manage a 12 billion franc issue for the caisse centrale de credit cooperatif
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
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
brazil buys french wheat at tender
seton sel gets buyout offer from chairman
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
dennis mcalpine an analyst with oppenheimer and co said he had speculated the company might be considering a leveraged buyout
the accord was signed here yesterday by nigerian finance minister chu okongwu and senior french treasury officials after talks with coface the french export credit agency they said
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
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
he added the french prime minister was visibly angered as he the hour long meeting
unadjusted male unemployment totalled 112 mln up 180000 from a year earlier
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
israel tenders tonight for corn and or sorghum
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
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
the reynolds and reynolds co said it will fight a suit filed against it by advanced voice technologies alleging misappropriation of trade secrets
north west telecom nowt makes acquisition
miyazawa sees big nations reaffirming paris pact
but the rebound was largely on short covering they said
latin american officials say that while the debt should be negotiated case by case their governments are promoting a general framework for talks based on growth and development priorities lower interest payments and new financing
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
in 1986 the company reported a loss of 6565000 dlrs or 91 cts a share
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
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
when the bonds are converted keppels debt and interest expense will be further reduced and place the group in a much better financial position to expand and diversify its activities sim said
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
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
fees comprise 1 1 4 pct selling concession with 5 8 pct for management and underwriting combined
its 1986 revenues totaled 12 mln canadian dlrs
others who run junk bond portfolios agreed with that assessment and said they would still buy high yield issues
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
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
purolator lost 120 mln dlrs over the last two years largely due to us courier operations which we believe the management is turning around
dealers quoted three months at seven 6 3 4 pct and six month to one year funds at seven six pct
the company said the money raised from seizer will further strengthen its balance sheet and enhance its ability to seek selective expansion opportunities
group net profit 30 mln marks vs 35 mln
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
towards the end of last week about 10000 angry west german farmers marched through the streets of hanover burning effigies of agriculture minister ignaz kiechle while in france pig farmers barricaded roads in protest at falling prices
us oil tax would not affect pdvsa champlin deal
the special factors which boosted money supply growth last year are disappearing one economist said
shaws supermarkets inc shaw year jan 3
under existing criteria usda can offer eep subsidies to recoup export markets lost to competing nations unfair trading practices
it said the loan will finance part of the cost of the 46 mln dlr sas grand hotel beijing in the chinese capital
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
trade war fears may prompt stock markets downturn
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
clayton a private investment firm said this was the third mangement buyout of a divestiture completed by them since december 1986
first quarter 1987 exports rose 36 pct to 94 billion dlrs
chamorro said nicaragua supports the establishment of export quotas in an effort to boost sagging world prices
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
texaco also has eurobonds outstanding which are convertible into texaco inc common stock known as convertibles
january wheat exports comprised 251000 tonnes to european community destinations and 284000 tonnes to third countries
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
magma lowers copper 075 cent to 66 cts
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
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
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
but the firm is well positioned in its business segments
the fed is currently frozen into a fixed stance said economists at aubrey g
the bundesbank bought large amounts of dollars for yen in an apparent attempt to hold the dollar above 149 yen dealers said
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
cargill 10000 tonnes number two srw wheat for april 10 may 5 at 12088 dlrs fob gulf
the notes have an 8 3 8 pct coupon and were priced at 9983 to yield 86 basis points over comparable treasury securities
hoechst ag hfagf said in a statement it increased its pretax profits in 1986 despite a fall in turnover due to lower foreign sales
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
jwp jwp sells 30 mln dlrs of notes
chrysler c to tender for electrospace ele 
the new agreement contains an exit vehicle under which banks can convert their debt into 10 year loans
freedom savings frdm may seek sale or merger
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
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
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
one x brown was traded at 1975 rupees per kg up 15 cents from last rates while other grades also showed improvements
quaker oats oat unit to retire debt
it was due to amortize 105 billion dlrs under the rescheduling and pay 420 mln dlrs in non restructured principal both public sector
jp morgan jpm increases prime rate
us frozen orange juice stocks march 1 102618000 gallons vs 97111000 year ago
qtr ends feb 28 shr 10 cts vs 17 cts net 411275 vs 584118 revs 4977818 vs 4714581
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
inspiration irc in canadian gold find
an industry meeting in dublin this week also drew many market participants away from the trading desk they added
in spite of these the economy has shown signs of stress with no significant improvement in a number of areas he added
further yen rise would hurt japan economy sumita
but s and p said valeros refining segment has been unable to consistently generate operating profits
lumber imports from canada fell 300 mln dlrs or 33 pct because of a 15 pct duty on imports from canada the department said
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
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
lawson repeats he is content with sterling level
lair liquide airppa year ended dec 31
buffton corp buff buys b and d instruments
kramer also said the meeting had heard that unemployment for the year would be above the 55 pct forecast but was unlikely to be more than six pct
dealers estimated the ems related outflow as high as six billion marks
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
cosmo oil co ltd the third largest seller of oil products in 1985 cut its workforce by some 20 pct last year a spokesman for the company said
financing was provided by prudential insurance co of america and affiliates
upland minerals acquires brazil mining firm
donald trump was also unavailable for comment as was a spokesman for the crosby estate
swedens boliden to open saudi arabian gold mine
brokerage firm ups stake in allegheny ag 
iraq replaces oil minister in big govt shuffle
in february 1986 m a coms former chairman president and chief executive richard dibona suffered a stroke
the group earlier reported a drop in net income for the year to 254 billion stg from 303 billion previously with lower crude prices outweighing the effect of increased sales by volume
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
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
in 1984 85 the us supplied 41 pct of record soviet grain imports of 555 mln tonnes
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
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
revenues fell to 24 mln dlrs from 33 mln dlrs
ec ministers have agreed to extend a quota production system while discussions continue on an industry plan for capacity reductions
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
he added that the pcgg wanted some foreign input but would not allow foreign control of the brewing and food conglomerate the philippines biggest manufacturing concern
vendor deliveries slowed another sign that the economy improved in march
eli lilly lly to buy 23 mln shares
the tremor ruptured the countrys main pipeline from jungle oilfields to the ecuadorean port of balao on the pacific ocean
may department stores co 4th qtr shr 138 dlrs vs 124 dlrs
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
graphics industries inc said it terminated negotiations for the acquisition of holladay tyler printing corp rockville md
county savings bank csba sets stock dividend
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
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
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
tempo tpo to sell cable systems to eagle
lex said in a statement that its acquisition of sears motor group represents a major development for its automotive activities
proceeds will be used to repay short term debt issued in connection with quaker oats recent acquisitions and for other corporate purposes it said
analysts peg us cotton seedings 106 mln acres
usair also had said its counsel would investigate the matter
armtek arm sells tire truck tire business
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
in testimony before the house appropriations committee baker outlined many of the measures taken designed to achieve more balanced growth and a reduction of trade imbalances during the paris meeting
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
this followed a small rise in january of 400000 bpd but a decline of 15 bpd in february and 25 bpd in march
billiton also urged heidweiler to improve the safety of its employees in the campaign against a jungle guerilla group the spokesman said adding rebel fighting since july 1986 had depressed production at billiton and suralco plants
japan requested bilateral consultations in accordance with article 23 1 of the general agreement on tariffs and trade gatt in washington yesterday
dividend on 1986 business 12 marks per share vs seven marks
belgian one day strike hits transport shipping
it said it expects very good earnings and revenue growth this year
british petroleum co plc said it raised its posted butane prices by 1550 dlrs per tonne to 123 dlrs fob north sea effective today
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
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
we cannot afford not to continue with our plans
securities dealers say the lack of viable hedging instruments for shares and bonds makes trading in domestic markets too risky
netbacks for other grades of oil refined in northern europe are shown below in dlrs a barrel
the transaction is expected to close this week
nec owns 15 pct of the company
among the credit categories auto credit fell in january to 102 billion dlrs from 206 billion dlrs in december the fed said
mexican cattle imports to be branded usda
they could be purchased with financial rands with interest paid in commercial rands
the central bank had also bought dollars against the yen in morning trade
centronics cen sets preferred purchase rights
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
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
travelers tic unit to buy realty divisions
world bank suspends loans to peru central bank
this clearly reflects the confidence investors have in the keppel group
the economy is not receiving a considerable amount of the equipment that it requires said talyzin who heads the state planning committee gosplan
mitsubishi bank ltds hong kong branch is planning a 40 mln new zealand dlr certificate of deposit cd issue banking sources said
france has little room for manoeuvre oecd says
cdc may sell falconbridge falcf debt
neoax noax buys rexnord rex unit
using reinforced cables salvage experts intend to raise the ship and set it down into a trench dug alongside
mthly div 71 cts vs 71 cts prior pay march 31 record march 16 note franklin high yield insured tax free income fund
since that has been achieved there is no longer any reason to maintain the equity positions kodak said
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
january housing sales drop realty group says
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
a text was released in washington
today gencorp closed at 114 1 4 up 1 5 8
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
uk issues 250 mln stg in index linked bonds
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
it would be in line with market demand unless this was considered excessive
earlier scott reported a 1986 loss of 19 mln dlrs compared to a loss of almost 22 mln dlrs in 1985
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
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
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
kraft kra sees higher capital spending
that compared with a median price of 94600 dlrs in december and 94000 dlrs in january a year ago
the mini refunding does not come at a particularly auspicious time for the market
japanese crushers bought 5000 to 6000 tonnes of canadian rapeseed for may shipment in export business overnight trade sources said
italian consumer prices rise 04 pct in march
calls to harcourt seeking comment were not returned
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
payment is due on march 25
we have nothing to lose
usda not planning any major pricing changes
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
borg warner cant quibble that its not a legitimate offer
as the bonds will not be publicly offered first boston declined to give their price and yield
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
argentina corn exports were also cut by 500000 tonnes to 68 mln tonnes
the iacs report will be due at the same time as the findings of the current royal commission into grain storage handling and transport kerin said
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 reason was the continued expansion of the machinery and plant sector which accounted for 42 pct of total sales
the bond is available in denominations of 10 mln yen and will be listed in london
near term strength seen for currency futures
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
baybanks inc bbnk 1st qtr net
a spokesman for the workers said they would continue their strike until authorities agree to their demands for higher pay and other benefits
he told a lower house budget committee in parliament that credit conditions have been eased by the five discount rate cuts by japan since the beginning of last year
the bonus was made to international multifoods corp and will paid to the exporter in the form of commodities from ccc stocks the department said
jordans government asked banks in early 1985 to comply with the new capital requirement raised from three mln dinars by the start of 1986
reg april 14
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
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
the latest ec authorisation will add 70000 tonnes at the april 14 tender and a further 30000 tonnes later in the month
it said average temperatures for the last 10 days of march in most of east china were three to five degrees centigrade below average
company forecast for current year is parent shr 3786 yen div 750 yen net 34 billion current 81 billion and sales 1250 billion
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
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
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
us soybeans have competitive problem amstutz
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
waste management amends chemlawn offer raising it to 35 dlrs a share from 33 dlrs
fed expected to set customer repurchases
shr 24 cts vs 13 cts net 771000 vs 314000 revs 241 mln vs 113 mln avg shrs 3234000 vs 2426000 12 mths shr 65 cts vs 38 cts net 1983000 vs 904000 revs 715 mln vs 377 mln avg shrs 3035000 vs 2371000
canada february trade surplus 12 billion dlrs
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
on friday the federal home loan bank board in washington said it approved the acquisition of south bay s and l a 625 mln dlr state chartered stock association by standard pacific which has 3128 mln dlrs in assets
jefferson said good progress was made in the latest nine months while most customers were able to maintain their normal level of calls during the recent strike by company engineers
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
it also laid down several conditions for an asset privatisation trust apt planned by the government to dispose of the banks unproductive assets the sources said
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
allwaste alwso to acquire firm
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
corn acres totalled only 6022 mln in 1983 when the pik program was introduced
santa fe officials dont appear concerned that henley might launch a takeover
full year 1986 includes a charge of 2246 mln dlrs taken in the second quarter for asset revaluation and restructuring costs
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
as such the loan for mexico could go down in the history books as the biggest but also the last jumbo
official figures put last years soybean harvest at 71 mln tonnes
ibm ibm rebound seen by bernstein analyst
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 expects the company to report net income of about 40 cts per share in 1987 and a very significant increase in 1988
speculation is that china will need the sugar for the may july period
policy management pmsc makes acquisition
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
french exporters see higher wheat sales to china
additional ccc credit guarantees for korea usda
full name of company is mobile communications corp of america
oakwood homes oh to sell convertible debt
gross profits for the previous year had been 3825 mln francs with 314 mln subtracted for depreciation including 45 mln francs supplementary depreciation
one equities analyst predicted that the budget surplus announcement could push the share market up by 50 points tomorrow
this line of argument cuts no ice with the filipinos who note drily that they asked for no new money at all
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
transamerica said it has now signed a definitive agreement for the sale which will be structured as a reinsurance transaction involving about 400 mln dlrs of reserve liabilities
anitec image antc files for debt offering
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
the company did not elaborate further on financial terms
overall the year had not been a good one with upstream operations dramatically hit by the fall in crude oil prices and downstream operations also affected in the first half by large losses on inventories
i would be the last to recommend that
taft broadcasting co did not comment on the 145 dlr per share offer
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
japan opens home market to us fish
lincoln financial corp lfino 3rd qtr net
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
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 current economic downturn has been worsened by the sharp decline in the world price of coffee ugandas major export the fund said
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
the disease is extremely difficult to control
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 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
unicorp uac lincoln in definitve pact
the government are not considering terminating the bp offer
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
video monitors is a privately owned wisconsin based manufacturer of video display and and video monitor devices
lorenzo chairman of texas air has added to his airline with the acquisitions of eastern airlines and people express airlines
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
even after this action over the last few weeks sterlings only just within striking distance of that range he said
texon energy txon in talks on acquisition
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
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
equity capital rose 23 pct to 29 billion dlrs and return on average equity rose to 175 pct from 102 pct in 1985
usda is projecting the soviet crop at 210 mln tonnes but some earlier estimates from soviet officials were that the 1987 grain crop could match the 1978 record of 237 mln tonnes
gateway communications inc gway 1st qtr net
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
qtr ended feb 28 oper shr 31 cts vs 14 cts oper net 3203000 vs 1357000 revs 130 mln vs 156 mln note oper data does not include year ago extraordinary gain of 821000 dlrs or eight cts per shr
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
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
prices rise at bangalore coffee auction
indonesia the largest country in south east asia with a population of 168 million is facing general elections in april
hall fbh earnings report qualified
the two firms are the biggest private sector employers in surinam
ncnb corp ncb 1st qtr net
saab scania issues 150 mln dlr eurobond
spain deregulates bank deposit interest rates
however this was mainly designed to prevent a grey market springing up in equities prior to listing
the remainder of the funds will come from export credits and domestic borrowings
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
another source at the midam said this change could take place by july or august
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
united telecom ut reports us sprint loss
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
however since then the pound has continued to gain strongly
qtly div 24 cts vs 24 cts prior pay april 10 record march 31
despite existing import quotas and tariffs imports of textiles grew 26 pct in 1986 and imports of apparel grew 14 pct while us production rose only 19 pct
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
he did not make any specific projections for the companys earnings this year but he said the firm will pay a dividend of not less than 325 cents per share after a proposed four for one stock split and a one for four bonus issue
coniston declined comment and the pritzkers had no comment
payment is due may 14 and coupon date is may 15
kellogg co k 3rd qtr net
bank of france buying dollars for yen banking sources
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
the 40 mln dlr loan is designed to raise the performance of exports and industry and strengthen the financial sector
the palm oil would come from malaysia or indonesia
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
analysts said 1987 corn production could drop by over one billion bushels to around seven billion bushels
oper shr 124 dlrs vs 155 dlrs oper net 120800000 vs 150100000 revs 312 billion vs 274 billion year oper shr 262 dlrs vs 289 dlrs oper net 255000000 vs 280500000 revs 926 billion vs 826 billion note 1986 period ended february one note results exclude earnings from discontinued operations of 90 mln dlrs or nine cts a share vs 32 mln dlrs or three cts a share in the quarter and 21 mln dlrs or two cts a share vs 31 mln dlrs or three cts a share for the year 1987 earnings exclude gain on sale of b
ciba geigy ltd announced the formation of its ciba vision group becoming the first group within the corporate structure to carry the ciba name
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
tomorrow the uk government will consider what legal action it can possible take to press for japanese reform
the selling concession is 1 1 4 pct while management and underwriting combined pays 3 4 pct
japan tankoku yields hit record low at auction
us feb industrial production rose 05 pct after revised 01 pct jan gain
qtly div 38 cts vs 35 cts prior pay may 15 record may one
winn enterprises wnn unit sells dairy
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
okongwu left paris today for london and is due back in nigeria on monday diplomatic sources said
uk visible trade deficit narrows in february
the exercise price is 543 swiss francs
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 
moodys said the companys healthy cash flows along with outside financings will be used to fund this growth
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
but johnson warned against reliance on inflow of foreign capital to finance investment and the budget deficit and keep interest rates stable
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
privately held technology dynamics plans to introduce its first line of fiber optic sensors later this year corning glass said
the banks would be rid of the loans but would have to recognize a loss
the company said the committee of its unsecured creditgors and the committee of its equity security holders have approved the terms of the plan
it was impossible to resolve the dispute by crises he was quoted as saying
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
nigeria changes auction rules to defend the naira
baker said the us would re examine the february louvre accord to stabilise currencies reached by leading industrial democracies
assistant treasury secretary david mulford said he prefers debt conversion plans to help heavily indebted countries over quick fix political plans to help ease their debt burden
federal realty investment trust is issuing a 75 mln dlr convertible eurobond due april 30 2002 paying an indicated coupon of 5 1 4 to 5 1 2 pct and priced at par lead manager salomon brothers international said
the announcement of the bid pushed williams share price down to 733p from last nights close at 750p
italys imi has no present plan for fiat issue
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
white house says us monetary policy correct
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
wall street stocks loral corp lor 
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
no grain to the ussr in latest week usda
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
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
patronage refunds in the year ended february 28 1986 totalled 95 mln dlrs
includes operations of bank of hartford acquired feb 23
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
uk money market given early assistance
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
american express closed on the new york stock exchange at 72 5 8 up 4 1 8 on heavy volume
the collateral for the trust includes a pool of visa credit card receivables backed by a letter of credit
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
central banking system inc csys qtly dividend
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
prices have gone up for memory components the mainstay of the japanese semiconductor industry analyst drew peck of donaldson lufkin and jenrette said
chris craft industries inc ccn regular payout
he also told a news conference morgan had received informal approaches about a takeover of the group but was not interested
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
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
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
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
we have to study this more reagan said
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 also said there can be no assurance as to the terms of the proposals or that the deal can be concluded
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
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
the compromise also stated buffer stock purchases on any day would be limited to 40 pct each in nearby intermediate or forward positions delegates said
donald regan says us should ease credit supply
the problem here will be the tax reform the portfolio manager said
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
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
nordic investment bank issues danish crown bond
interest payments during the life of the loan are however not exposed to exchange rate fluctuations
spethmann made no comment on 1986 87 group earnings
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
the world bank said it has loaned mexico 400 mln dlrs to help support an agricultural credit project
the company also reached agreements in principle for an 81 mln dlr settlement of class action law suits
abc said investcorps facility can be used alternatively or simultaneously through the following facilities issue of euronotes and or advances through tender
allegheny said it acquired a 44 pct interest in wilkinson then known as wilkinson match ltd in 1978 and the remaining share in 1980
first granite bancorp inc agrees to be acquired by magna group inc for stock
also if approved sheppard will change its name to breast centers
msr exploration ltd msr year loss
baker said it would be necessary for other countries to adjust their currencies upwards as well as remove their barriers to us imports
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
we will be looking at ways of strengthening it but i do not want to discuss that here
western federal savings bank wfpr 1st qtr net
eastman kodak ek files for debt offering
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
bear stearns and ladenburg thalmann co managed the deal
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
bethlehem steel corp said prices for steel sheet products will be increased up to 30 dlrs a ton effective january 3
the sources said icahn has not lined up outside financial advisers and plans to make his own arrangements
lawson added the uk government intended to keep sterling at about present levels using currency intervention and interest rates to achieve this
the present five day average of the indicator price is around 192 malaysian singapore cents
mcdonnell douglas corp said it acquired frampton computer services ltd a british software company that is also known as isis
bank negara also said in its annual report that gross national product gnp is expected to grow by 35 to four pct after declining 73 pct in 1986
h and r block hrb sees gains from tax reform
what the soviets want is something equivalent to the lowest price being paid by anyone in the world he said
the governments planning bureau predicted growth of 09 pct this year in a study published last month
one noted that it was not immediately clear why the group should spend so much money buying a company it already controlled
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
the law requiring a 48 hour delay in publishing the monthly trade figure excluding freight and insurance was passed in 1979
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
the chicago missouri will employ 625 workers and start operation immediately upon closing of the transaction
in the fiscal year ended may 30 1986 avery reported a loss of 489000 dlrs
analysts and oil industry sources said the problem opec faces is excess oil supply in world oil markets
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
spanish employers worried by high interest rates
thai traders oppose reimposition of coffee quotas
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
onno ruding said
pier 1 imports pir amending dates on split
institute of clinical pharm plc icpyy year
almi group acquires interest in clearview baking
id be hardpressed to jump into stocks with the dow near 2300 unless i was really convinced that earnings and multiples will increase said a fixed income securities portfolio manager at a major money center bank
the spot riyal was quietly firmer at 37495 98 to the dollar after quotes of 37500 03 yesterday
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
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
doe added that in agreeing to the settlements the five did not admit any violations or non compliance with its regulations
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
stocks decreases and order book levels with the exception of the agro food industry improved substantially
the hearst corp is buying the houston chronicle from houston endowment inc for 400 mln dlrs
the officials said the tariff cuts would contribute to holding wholesale and consumer price rises at less than three pct this year
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
vneshtorgbank seeks 200 mln dlr loan
but with indonesia facing parliamentary elections next month he is likely to avoid anything which would imply that the bank is demanding specific changes
varity said continued deterioration in major markets a weakening us dollar and unforeseen delays in launching major new lines of tractors contributed to the full year loss
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
tranzonic cos tnz 4th qtr feb 28 net
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
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
thatcher says trade targets set with moscow
1987 nine mths includes loss 237 mln dlrs pre tax charge to reduce the carrying value of the companys 17 land drilling rigs
1986 year net includes four mln dlr lifo charge and 3400000 dlr credit from pension plan termination
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
federal paper board co fbt sets payout
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
us monetary officials may refrain from making any comments this month to avoid influencing rates they said
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
company name is transamerican
gulf arab deputy oil ministers to meet in bahrain
but the time may not be ripe he said
finance ministry officials were unavailable for comment
raymond exxons new president singled out the possibility of a closure of one of exxons refineries in france during the interview
but heavy selling at around that level quickly pushed the dollar back down towards 149 yen dealers said
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
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
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
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
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
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
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
they said prime minister jacques chirac planned to urge ec commission president jacques delors to send a team of experts to washington as soon as possible
talks continue on tin agreement extension
convergent reported a first quarter 1986 profit of 2100000 dlrs or five cts per share
1985 4th qtr and year net reflects dividend requirement of 11 mln dlrs and 23 mln dlrs respectively and charges of 472000 dlrs and 29 mln dlrs respectively which is not accruable or payable because of pre organization tax loss carryforwards
terms were not disclosed
sterivet labs stvtf sets stock split
top us treasury and federal reserve officials had said the same
westport bancorp inc wbato 3rd qtr net
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
dow chemical co has launched a 200 mln swiss franc 12 year bond with a 4 3 4 pct coupon priced at 100 1 4 pct lead manager union bank of switzerland said
webcor said the american stock exchange is evaluating webcors continued listing eligibility
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
uk money market given 478 mln stg early help
wilson said the acp would take such steps only as a very last resort but added that the acp is in touch with other countries which oppose the plan
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
calmat co said it filed suit in los angeles superior court against industrial equity pacific ltd against certain of its affiliates and against ronald langley president of industrial equitys north american operations
the may fall of 64000 was the largest drop since records were first kept in 1948 employment minister norman fowler said
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
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
we represent the first victim of the move to price other countries natural resources according to the us system zimmerman said
the combined profits of japans major corporations excluding financial institutions are forecast to fall 192 pct in the 1986 87 year ending march 31 compared to the 199 pct decline projected in late november wako research institute of economics said
mercantile bankshares corp mrbko 3rd qtr net
saudi supertanker reported hit by iran off uae
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
orders received by the steel sector last year decreased by three pct to 62 billion marks from 1985 it said
the federal reserve entered the us government securities market to arrange two billion dlrs of customer repurchase agreements a fed spokesman said
world bank can aid philippines land development
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
hoechst group pre tax profit falls in 1986
the products sent for testing were bought in state shops and private farmers markets in moscow it added
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
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
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
the european community ec is to boost spending to help the jobless this year
the mannesmann spokesman declined to say in which industrial sector the group may make a us acquisition or how big the acquisition might be
he had said earlier in washington that current exchange rates were within levels implied in the february paris currency accord
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
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
delegates from 23 countries are attending the gatt talks in the new zealand resort of taupo
terms were not disclosed
with the conclusion of the sale american international has entirely divested itself of its holdings in south africa
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
american medical international inc ami net
he said the closure will mean a drop in production of 3000 tonnes in 1987 from last years output of 17800 tonnes
yu said the government could maintain the framework of the foreign exchange controls while finding ways to ease them
south koreas leading indicators rise in february
the deposit for spread contracts will be similarly cut to 150 stg for a one 10 tonne lot from 200 previously he said
dataproducts dpc to buy imaging solutions
bundesbank dealers are very professional and skilled
the currency market is becoming very political said natsuo okada of sumitomo bank ltd
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
bank of france sets money market tender
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 
liquidity is expected to remain tight over the next month and this will put upward pressure on interest rates
the company said the transaction will yield about two mln dlrs in cash huron sells leases and services computer hardware
qtr ended april 30 shr seven cts vs 10 cts net 158294 vs 234829 revs 8727242 vs 8152478
ef hutton group inc efh 3rd qtr net
mountain states adds two minerals properties
shv already holds 68 mln ic gas ordinary stock units representing around 49 pct of the current issued share capital
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
the vessel was bound for iskenderun turkey from lake charles
the overall january deficit of 148 billion dlrs will be revised but the february figure will be a final one officials said
we hope they will be flexible or it will be difficult to negotiate the icco comprises 33 member countries
president leon febres cordero says the earthquake cost the country one billion dlrs in losses and left 1000 people dead or missing
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
company officials were not immediately available to comment on the companys reorganization plan
united technologies utx debt downgraded by s p
sloane noted that june yen futures set a new contract high on tuesday and closed at its best level ever while june sterling set a new contract high on monday
moodys affirms avco units long term debt
jamaica corrects size of paris club rescheduling
a spokesman said the changes were made because of the pending tender offer for the companys stock
southmark received these rights on april six as the holder of about 84 pct of american realty trusts outstanding shares
nvhomes nvh sets two for one split
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
jones and vining jnsv gets vulcan vul bid
the bank of italy took up the remaining 588025 billion lire of 12 month paper
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
ic gas said in a statement it noted the shv tender offer and the terms were being considered
india and egypt bought white sugar this week while next week sees tenders by pakistan greece and syria they said
moodys said it recognizes fords recent superior operating results and is assessing whether this performance can be expected to continue
finance and economy ministers of the gulf cooperation council gcc opened a two day meeting to discuss further economic integration officials said
sales advanced to 153 billion dlrs from 146 billion dlrs
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
us to sell 132 billion dlrs in bills
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
it was quoted at 75 at villa constitucion san nicolas and puerto alvear
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
full acceptance of the offer would involve the issue of about 298 mln new woolworth shares or 14 pct of the enlarged share capital
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
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
moodys investors service inc rates the debt aa 2 and standard and poors corp rates it aa
the offer will expire 1700 new york time april 1 1987 unless extended
they said chryslers cost of acquisition was valued at 782 mln dlrs paid in cash notes and chrysler shares
a year ago the index stood at 2367 and year on year consumer price inflation at 197 pct
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
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
southern national corp said its board declared a three for two stock split payable to shareholders of record on may 22
brent said it also proposed to raise about 126 mln stg net through the issue of 13167 mln convertible shares at one stg each
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
ford europes net earnings soared by 71 per cent last year to 559 mln dlrs kenneth whipple chairman of ford europe said
in tokyo 14 london based firms are authorised to do financial business officials said
petter skouen executive vice president of the nordic investment bank nib noted that a few weeks ago nib would have said it was disappointed with its euro mtn program but that the success of a recent issue changed their minds
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
uk money market given further 168 mln stg help
trading houses applying for a miti export licence will be required to show such a certificate but those without it will not automatically be denied licences he said
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
ual ual hertz unit files 500 mln dlr offering
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
two weeks ago the cme board of directors proposed barring brokers on the top step of the pit from trading for their own account
payment date is april 15
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
some banks have agreed to a three year deferrment of obligations due on letters of credit
woodside petroleum ltd wplas said its 1986 net loss largely reflected the drop in oil prices combined with a large tax provision
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
yugoslavia has almost 100 pct annual inflation lagging exports and low productivity
maxtor mxtr agrees to acquire us design
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
yugoslavia seeks two billion dlr refinancing
australia exported 159000 tonnes of sugar to the soviet union in 1986
speaking after a meeting at the bank for international settlements bis which reviewed the agreement they also welcomed interest rates cuts in france and todays drop in british rates
it said its outstanding 10 3 4 pct subordinated debentures may be used at face value to pay the exercise price of the warrants
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
colombia currently produces about 360000 barrels per day bpd of crude
in this way west germany had made its contribution to economic stability stoltenberg added
phelps dodge corp pd 3rd qtr net
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
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
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
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
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
quarter orders 3502 mln dlrs vs 2967 mln dlrs
it said on completion of the acquisition it would change its name to voice systems and services inc
february imports were 919 billion dlrs against 923 billion in january and 986 billion in february 1986
the new rate is among changes agreed last month to the 203 billion dlr public sector debt rescheduling
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
zambia imf talks stall on food subsidies
analysts have described the held dividend as a move to reassure worried shareholders
qtrly div 34 cts vs 27 cts prior pay march 31 record march 16
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
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
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
metropolitan federal mftno 1st qtr net
sources at the banks london branch said the bank was already seriously planning such a move
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
without such a basic agreement of multilateral surveillance baker would never have criticized the west german policy so openly the ministry official said
the company said its stockholders approved proposals that will insure that it remains independent
rexnord rex sells unit to neoax noax 
these moves to cap interest rates followed a meeting between poehl finance minister gerhard stoltenberg and us treasury secretary james baker monday in frankfurt
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
for the first two months of this year the trade deficit on a seasonally adjusted basis was 29 billion francs
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
zaire authorized to buy pl 480 rice usda
the stock can go to the mid 30s roling said from its current level of around 30
he said an auction of coffee would raise additional money and added that a report on june 16 gave the wrong impression that the auction was necessary to raise part of the 15 mln dlrs
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
altex said the denver based companies had revenues of over seven mln dlrs last year
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
that was up from 2477000 the previous week
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
but the plaza accord did not set any target for the dollars fall he said
they said the accord once concluded would be put for approval to the french and italian authorities
temperatures could stay in the mid 20s for up to eight hours mohler said
the employers have written to the union asking it to reconsider its position and a meeting of union members has been called for tomorrow
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
the share figures are adjusted for a 2 for 1 split paid in january
the latest belgian state loan subscriptions for which closed today raised a total of 1688 billion francs a finance ministry spokesman said
in addition barclays and guinness mahon have been named joint dealers for a complementary 100 mln dlr euro commercial paper program
belgium to issue gold warrants sources say
as for ldc loans he said mellon had removed about 80 mln dlrs in fully current argentine loans from cash basis but had charged off about 20 mln dlrs in private sector mexican debt
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
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
signs that the economy has just about weathered the worst are increasing
the group said it currently holds 18 mln shares or 176 pct of the total outstanding following purchases of 84300 shares march 18 april 1
the company said todays sale reduced its holdings in united to 25 pct
fees total 1 3 4 pct and the issue is guaranteed by the belgian utilities intercom ebes and unerg
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
they recovered to around 18 dlrs a barrel after last decembers opec meeting and brent traded today around 1715 dlrs
price rises accellerated for logs and timber and tobacco but fell for cotton metal ores and copper and aluminum scrap
proceeds of the offering will be used to reduce bank debt the company said
twa of course may refile it when it is able to comply with our procedural rules the dot said
bauxite accounts for 90 mln dlrs of exports or 40 pct of the total
bankamerica bac puts brazil on non accrual
steak inc
pentagon says us warships begin escorting gulf tanker convoy south from kuwait
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
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
arvin industries arv offers securities
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
bankers welcomed the bank of spains decision to raise the reserve requirement for banks and savings banks saying it reflected the socialist governments determination not to ease up in the fight against inflation despite the painful social effects of four years of austerity
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
partly offsetting these outflows exchequer transactions will add some 690 mln stg to the system today
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
private formulations is primarily engaged in the manufacture and distribution of vitamins and private label over the counter pharmaceutical products
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 potential buyers might scrutinise chinas human rights record
medium is now 1550 dlrs a barrel and heavy fuel is 1475 dlrs
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
kings road entertainment inc kren 3rd qtr net
the proposed tax on oils and fats would hit us producers badly while at the same time virtually doubling the price of soyoil in the ec which would suffer far worse than other higher priced oils because of the nature of the proposed tax he added
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
she spends less than 650 dlrs a day on food despite eating out once a day
economists have predicted the 1987 trade surplus would end up three to five billion dlrs higher than last years dismal 101 billion dlr total
dealers in khartoums thriving black market said the dollar was sold at 55 pounds today
shr two cts vs nil net 20406 vs 2348 sales 6191000 vs 6249000
us corporate finance s p cut has no effect
now it exports corn from the northeast but it imports wheat
senior us official to visit japan as trade row grows
keh fei lo vice president of first commercial bank said it appears the central banks move to curb the capital inflow is quite successful vice economic minister wang chien shien said the slower rise in foreign exchange reserves would help ease pressure from washington over the large us trade deficit with taiwan
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
but heavy selling at around that level quickly pushed the dollar back down towards 149 yen dealers said
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 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
the company said after the acquisition is complete it intends to open additional blockbuster video superstores in the san antonio market
net also includes 214 mln dlrs in accumulated foreign exchange losses canadian funds note continued shr after preferred dividends
1986 net includes costs of 900000 dlrs in quarter and 1200000 dlrs in year from proposed merger
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
the group said cross bought 17000 shares in the open market between feb
fed expected to add reserves
usair said if the application is dismissed twa would be limited to buying only 15 pct of its 317 mln outstanding shares
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
group ups stake in tandy brands tab to 69 pct
it said txl has arranged preliminary financing
relations between computerland and its franchise owners have mellowed recently after millard was forced to give up managment control of the company in 1985
the kobe rubber exchange said it will extend its trading hours from may 1 to enable more operators to use the exchange
peru for example shipped 96000 tonnes to the us in both 1983 and 1984
he said the court move aimed to freeze saunders assets up to the value of the sum it wanted to recover
our greatest danger is overreaction miller told newspaper reporters yesterday
traders in paris said they expect maximum rebates of between 43 and 4350 ecus
a milan banker shared stadelmanns view saying he expects a dollar yen range of 140 150 in the short term
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
fourth quarter 1986 also reflects writeoff of 207 mln dlrs of goodwill
shr 23 cts vs 20 cts net 1115000 vs 971000 revs 138 mln vs 119 mln nine mths shr 64 cts vs 52 cts net 3134000 vs 2521000 revs 401 mln vs 318 mln
although the sec recently signed an accord with britain aimed at improving cooperation between the two countries in investigating securities law violations the sec official said it did not need to rely on uk authorities in this case
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
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
july crude futures of west texas intermediate traded up to 1960 dlrs a barrel a rise of more than 20 cts
the company proposed that he be appointed life president and that current chief executive john gunn should take over as chairman
dome has pledged its 425 mln encor shares as security for part of its debt to commerce bank estimated last year at 947 mln canadian dlrs and the bank wants dome to sell the stock to pay down debt analysts said
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
qtrly div 11 cts vs 11 cts prior pay april 28 record april 20
our board carefully reviewed waste management offer and concluded that it does not fully reflect the value of the company
about 300 mln dlrs of debt and preferred were outstanding at december 31 1986
for the year ended july 31 1986 gelco reported pre tax operating earnings of 148 mln dlrs or 108 dlrs a share
allwaste alws to make acquisition
newmont mining corp said it completed the previously announced reduction of its share in peabody holding co inc to 4997 pct from 6147 pct
nationals distilled spirits business has sales of about 580 mln dlrs american brands said
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
arango did not want to commit himself on export predictions but said that output for the 1986 87 coffee year would not exceed 105 mln bags compared with 12 mln forecast by the national coffee growers federation and 125 mln by the us department of agriculture a figure he said was ridiculous he said ageing plantations and rust in particular in the number one producing province of antioquia meant output was likely to fall but that nationwide estimates were rare and oscillated between 95 mln and 115 mln bags
the usda official would not speculate on when the soviets would enter the us market again
it said transfers of securities in violation of these panamanian regulations are invalid
industrial equity pacific which is controlled by brierley investments ltd brywwe and which has applied with us antitrust regulators to buy up to 50 pct of tritons common stock said the current 54 pct stake was acquired for investment purposes
a merrill lynch canada spokesman declined to comment on the newspaper report when queried
it said the unit is a catalytic reformer which converts low octane components of gasoline into high octane components for use in super unleaded gasoline
under these cicumstances farmers would not want to go along with 0 92
entertainment marketing told the sec it expects to meet with crazy eddie representatives in the near future
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
cibas vision group will be headed by james macdonald president and chief operating officer
judge to rule monday on burlington bur case
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
market reports on friday said the stc had booked two cargoes
the milan daily il giornale said a convertible bond issue was under study but gave no details
treasurys baker fully expects brazil to strike deal with private creditors
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
the firms co managers of the underwriting group said paine webber originally planned to offer 36 mln shares
details were not disclosed
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
washington will review the ec proposal when it is formally submitted and respond to it officially then
national fuel gas said the split will be paid to holders of record may 29
japanese consumers currently eat less than 10 lbs of beef per year compared to 78 lbs for the average american officials said
iraq said its warplanes had hit a vessel in the gulf off the iranian coast today the third in the past 24 hours
negotiations began in december and unions are hopeful they may conclude by early april ahead of the traditional holiday period in june
there were no ratings by moodys investors service inc or standard and poors corp at the time of the pricing drexel said
democracy in latin america must not be endangered because of misery or new injustices he said
sea containers ltd predicted its first quarter fiscal 1987 net earnings would improve by 10 mln dlrs over the same period a year ago
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
because of these acquisitions it said first quarter sales will be substantially higher than last years 671 mln dlrs
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
he said the two sides narrowly avoided a confrontation earlier this year over lost grains sales when spain and portugal joined the community and its liberal imports regulations were tightened to conform to ec standards
the 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
usda officials however took issue with the report saying it did not take into account storage handling and transport savings that accrue to the government
the performance of the imf over the years has not been convenient to our needs
as long as its a basic material we consider it still just a processed version of the basic agricultural commodity sims said in a telephone interview
the 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
foothill fgi sierrita in standstill accord
the us wants japan to eliminate import controls on agricultural products within three years visiting us under secretary of state for economic affairs allen wallis told eishiro saito chairman of the federation of economic organisations keidanren a spokesman for keidanren said
the swiss franc notes will be redeemed july 12 at 1005 pct
six major nations britain canada france japan the us and west germany agreed in paris last month to act together to hold currencies stable
initially the bank put the likely shortage at some 175 billion and to help offset this gave early assistance of 1143 billion
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 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
it said it will add to that a reserve for investment losses in argo communications corp
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
top officials of leading industrial nations arrived at the us treasury main building to begin a meeting of the group of five
the united states wants an end to subsidies in a range of agricultural products from dairy products to vegetable oils he said
it said the drop was due to a fall in orders and the dollars decline against the mark
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
taiwans trade surplus with the us rose to a record 136 billion dlrs last year from 102 billion in 1985
the bureau channels funds to government financial institutions for public works and other official uses they said
chairman s
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
the bank of japan intervened in tokyo to buy dollars just after the market opened dealers said
the koether group said it bought the stock for 10 mln dlrs for capital appreciation and may buy more
april exports totalled 702 mln dlrs compared with imports of 108 billion
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
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
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
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
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
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
it said residual fuel stocks fell 380000 barrels to 3804 mln from 3842 mln barrels
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
licht sees rise in european beet area trade
it said the price went into effect monday
he said the may 28 sale of options to buy 258800 burlington shares was thus a non event
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
industrial production rose 48 pct on a seasonally adjusted basis in january compared with december while rising 28 pct from january last year central bureau of statistics figures show
us firms have complained they were not allowed to bid on its construction
the dispute goes to the commission on monday they said
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
us exporters report 150000 tonnes corn corn switched from unknown to ussr for 1986 87
jan 31 end shr 140 dlrs vs 110 dlrs net 164 mln vs 129 mln revs 1962 mln vs 1575 mln
the 1986 profits of coastal a natural gas production and pipeline company were halved from 1985 levels due to slumping energy prices
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 bond is available in denominations of one mln yen and will be listed in luxembourg
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
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
motor wheel sells senior subordinated notes
that was no slip of the tongue said one western monetary official who asked not to be identified
eastman kodaks outstanding issues are rated aaa aa
pechiney signs letters of intent with soviet union
under the internal revenue service code proceeds from the sale of motech must be donated to another tax exempt nonprofit organization
india bought 24000 tonnes of rbd olein at tender
del e
digital communications dcaio buys fox unit
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
alan slifka a partner in halcyon told the shares were purchased for investment purposes but declined further comment
japan asks traders exporters to cut dollar sales
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
siemens wants to amend telecom plus tele pact
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
previously named international nickel co inco is one of the original components of the index established in 1928
three month interbank riyal deposits were quoted today at 6 1 2 3 8 pct
a japanese businessman announced plans for a new telecommunications firm in which britains cable and wireless plc would be a core company
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
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
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
if and when a final position comes out of the icco talks one will still have time to put on positions
it was the fourth federally assisted merger or acquisition of a troubled savings institution this year the fhlbb said
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 company named drexel burnham lambert inc as sole manager of the offerings
the company said sales for the first nine weeks of the year were up six pct to 259 mln dlrs from 245 mln dlrs a year before with same store sales up two pct
the personal computer industry has bottomed out and is on the way up again he said
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
but no other bid has yet emerged
sec clarifies position on tender offer changes
clevite industries says jp industries offered 1350 dlrs a share to buy company
yochum said that at the companys current level of earnings it could comfortably maintain higher debt levels and that westinghouse will use its debt capacity to improve shareholder value
the us treasury said it will sell 95 billion dlrs of one year bills at auction
iel sets 100 mln dlr note commercial paper issue
earnings per 20 crown share went from 2379 crowns to 2045 crowns but the company proposed an unchanged 20 pct dividend
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
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
in addition bankers balances below target and a rise in note circulation will drain a further 135 mln stg and 30 mln stg respectively
the close relationship between exchange rates and trade flows makes it difficult to see which is driving which but undoubtedly the trade equation between the big three is changing
the payment date is may 7 while listing will be in luxembourg
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
cyclops also said its board determined that cyacqs announcement was not an offer
egypt cancels wheat tender
american agronomics corp agr 2nd qtr feb 28
the contract unveiled at a press conference is expected to make the 300 billion dlr a year swap market more efficient he said
spain agrees sale of corn to greece
securicor group and other subsidiaries will guarantee the facility
qtly div 13 1 2 cts vs 11 1 2 cts prior pay june 15 record may 22
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
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
theyre scrambling to replace them said one trader
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
earlier this month talks in london to set new ico export quotas failed
we are pushing the plan on the premise of an official credit to be extended eventually a mitsui spokesman said
net excludes gains from sale of investment of 1461000 dlrs vs 346000 dlrs in quarter and in nine mths
leclerc said alcan decided it would cost too much to modernize the plant
net 38 mln vs 57 mln revs 171 billion vs 169 billion note fully owned subsidiary of hoechst ag
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
demarkus sales were 470000 dlrs in 1986
following the gaf offer analysts had calculated breakup values for the company in the low 50 dlrs per share range and speculated an offer would have to be sweetened
pakistan not seen as major wheat exporter
analysts said the rate is under upward pressure partly from settlement of 825 billion dlrs of five year treasury notes
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
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
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
how can the government really raise taxes if the system they impose is prohibitive of generating business he said
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
speculation is rising for either a june or an early autumn election political sources said
us eep veg oil proposals still under review
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
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
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
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
in terms of current as well as constant prices the narrowing of the surplus was progressing the bank said
the company said the debentures are convertible into atcs common stock at 825 dlrs per share
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
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
it said its board may redeem the rights for five cts per right any time prior to their exercise date
although a vote in the monetary council to provide more funds for such purchases was deferred on technical grounds last week funds are still being released for subsequent approval
saitama bank issues 100 mln dlr convertible bond
the bank of japan here declined comment
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
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
a spokesman for smc said the companys 15 member board met today to discuss the proposed compromise
the cattle are being fed the residue left after cleaning the cane stalks
debt proposal faulted by argentine observer
totals may not add due to rounding
rafidain banks jordan branch raises capital
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
italys ferruzzi takes over spanish mill
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
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
virginia federal said the proceeds would enable it to provide increased mortgage and lending services and enable the company to compete more effectively in the virginia market
robert bretz chairman of the napms business survey committee and director of materials management at pitney bowes inc pbi said the economy ended the first quarter with a healthy if not substantial improvement bretz said the sharp rise in the growth of new orders in march assures a good beginning for the second quarter
the facility is being lead managed by hongkong and shanghai banking corp
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
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
today one trader said they were indicated initially at 65 to 70 pct before ending at some 79 83 pct
we must try to get them to lower the spreads machinea told 
pacific lighting corp said it is considering the sale of its land development line of business and will be initiating discussions with potential buyers
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
parent net profit 536 mln vs 438 mln
chrysler finance issuing sterling eurobond
uk money market receives 205 mln stg late help
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
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
treasury secretary james baker said that massive new lending to the debtor nations could actually increase their difficulties in the period ahead without protections
some analysts have said the size of offer was too big for the market to handle efficiently
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
there are no voting restrictions on the new shares
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
the quaker oats co said it sold its vernells fine candies inc unit to privately held keystone partners inc for an undisclosed price
you have to be impressed with the resiliency of bonds right now said smith barney harris upham analyst craig sloane
france today repaid 2195 billion francs of short term currency intervention debt to the european monetary cooperation fund emcf the finance ministry said
the downgrades were expected for some time
bankers said these rates will put the securities within reach of almost everyone and will create a more active market
scholls businesses in europe latin america and the far east which had sales of about 150 mln dlrs in 1986
employment should rise by 01 pct a year over the next two years while the state budget deficit should be cut to 22 pct of gdp in 1988 from 26 pct this year and 29 pct in 1986
the 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
sources close to finance minister edouard balladur said that he would be happy to see an interest rate cut and dealers said any fall in the intervention rate was most likely to come when the bank of france buys first category paper next monday although an earlier cut could not be excluded
a return to the stagflation of the late 1970s may well be the result of such a behavior pattern heller warned
the company said extreme heat from the fire caused severe rock degradation along several ramps and drifts in the mine
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
nihon keizai shinbun quoting unnamed government sources said japan would tell us agriculture secretary richard lyng and us trade representative clayton yeutter of its intentions
britain to mint new britannia gold coin
if approved the merger will add another 32 mln barrels to the companys reserve base
magma raises copper price 025 ct to 6575 cts
holdings of federal government securities dropped to 876 mln ringgit in february from 170 billion a month earlier and 230 billion in february 1986
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
painewebber inc was named underwriter
ici issues 100 mln stg 9 3 4 pct eurobond
north central laboratories inc said it has had preliminary discussions with mikromed inc about providing laboratory testing services to screen the presence of the aids virus
prior periods restated to reflect sale of discontinued operations
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
bethlehem has one billion dlrs of debt and preferred stock outstanding
wessberg said the new method cut the number of unemployed by about 16 pct
the cuts follow a similar move by national westminster bank plc nwbll the rate changes take effect tomorrow
us export inspections in thous bushels soybeans 18345 wheat 11470 corn 34940
genex corp gnex year loss
warm daytime temperatures and good soil moisture have produced an abundance of new growth and bloom
toshiba and sharp together control about 40 pct of the personal computer market in the ec the sharp spokesman said
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
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
exports to developing nations and centrally planned economies also slackened
they held 529 billion marks in minimum reserves on monday averaging 537 billion marks over the first 16 days of march
shr eight cts vs 12 cts net 1016552 vs 980834 revs 6786579 vs 4356561 note invitron went public on october seven
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
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
weights in percentages compared with former weights
the us producer price index for finished goods rose 01 pct on a seasonally adjusted basis in february the labor department said
he would not comment on the new offer
international proteins pro replaces credit
the barwon statement said a deal is expected to be concluded between barwon and the philippines government in 14 days
the april index base 1980 stood at 103
so far none of the soviet ships are known to have been attacked by iran
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
the board also declared a regular quarterly cash dividend of 125 cts payable april one to holders of record march 16
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
norman robertson mellon bank chief economist called the markets instability frightening
leaseway transportation corp ltc qtly div
they saw the climate for equipment investment improving but predicted only a rise of four pct in 1987 against 46 pct in 1986
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
krowe ibm said
hamburgische lb bond raised to 75 mln canadian dlrs
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
that compares to 1985 when only 17 pct of the banks losses were in real estate and energy accounted for 43 pct
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
current production of three mln bpd includes oil from the neutral zone shared with kuwait but not sales from floating storage nazer said
thyssen sees up to 20 pct lower sales in 1986 87
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
banca cattolica in 100 mln dlr cd issue
we got almost a one percentage point reduction he said
most proposed changes involved evaluating exposures on a case by case basis rather than along general lines
us bank discount borrowings average 310 mln dlrs in feb 25 week fed says
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
protectionism is not found only in the us
ute geipel head of research at citibank ag says that poehls reappointment would guarantee flexible monetary policy
the latter two changes would make it harder for minority shareholders to elect directors
the company now has flexibility to pursue a strategy of increasing its presence in the paper products market
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
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
we called at the very beginning for the bank syndications to find procedures or processes whereby they could operate more effectively the official said
banks try to calm manilas fury over debt deal
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
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
glaverbel share offer over 100 times oversubscribed
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
first there are supply concerns
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
several hundred vessels have been confirmed hit in the gulf by iran and iraq since early 1984
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
in 1986 farmers planted 615 mln acres of soybeans and 767 mln acres of corn according to the february 9 usda supply demand report
dresser industries inc to sell reliance standard life insurance to rosenkranz unit
mexico recieves first 250 mln dlrs of japan loan
canada industrial prices up 02 pct in month
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
about 2000 sugar cane planters marched to port au prince to protest against the closure of haitis largest sugar mill and second biggest employer
the chicago mercantile exchange cme board of governors announced today the options on random length lumber futures will begin trading on may 29
danish reserves rise 105 billion crowns in may
ten grain ships were loading and 18 were waiting to load at new orleans elevators trade sources said
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
current profit for the year was estimated at 17 to 18 billion yen down 20 to 24 pct from a year earlier he said
mexico veg oil tax not aimed at sunflower usda
finance ministry officials were unavailable for immediate comment
leading interest rates are not the decisive rates he said
the reagan administration proposed in trade legislation offered congress last month that authority to monitor coffee imports be resumed
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 bank of england said it provided the money market with 53 mln stg assistance in the morning session
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
the timing of the proposal is off said one aide to a house agriculture committee member
non consolidated net profit 3435 billion francs vs 2330 billion
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 trust was formed at year end 1986 to facilitate the sale of hilton international
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 purchase will not affect the close working relationship between telefonica and intelsa ericsson said
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
results exclude gain on sale of discontinued operations of 97 mln dlrs or 360 dlrs a share in 1987 3rd qtr
its a question of why the official lending agencies dont finance a little bit more quickly and easily funaro told reporters at the brazilian embassy
he said 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
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
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
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
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
rainier bancorp said it completed the acquisition of tacoma wash based united bank for 59 mln dlrs worth of rainier stock
it said it has the right to cancel the warrants after one year if no transaction has been completed
wiggins and other defendants were also charged with providing false testimony and obstructing justice during a securities and exchange commission investigation
bundesbank has not intervened today dealers
us calls for greater gatt checks on trade
commenting on 1987 amoco said acquisitions will be an integral part of our strategy should reserves become available at attractive prices the company said it expects the marketing climate for natural gas to improve in 1987 which should provide the opportunity for amoco to expand sales
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
money supplies in the us japan and west germany exceed the central banks limits and real growth of their gross national products it said
coupon on mitsubishi warrant bond cut
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
triangle home products inc thp 4th qtr loss
texas instruments inc txn sets quarterly
he said higher prices on imported products and wage cuts that have helped the manufacturing sector will squeeze consumers purchasing power
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
the paper quoted bangemann as saying that continued subsidies would endanger other parts of the german economy by making them uncompetitive
the usda report asssessed the impacts of the proposed 0 92 acreage program for wheat corn cotton sorghum and barley
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
theres a lot of leisure money out there
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
technical details of the operation would be announced in the next few days
last time the banks sent their responses on the proposal to leutwiler who in turn notified the south africans
participants in the meeting do not look for changes in the soybean loan to be announced in the near future
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
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
combined wheat and barley futures trade declined to 892700 tonnes from 119 mln in january and the value fell to 97 mln stg from 129 mln grain and feed trade association gafta figures show
he 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
suzanne early assistant trade representative told the interagency meeting was to discuss us strategy on the vegetable oils issue
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
the package also includes a five year 100 mln guilder eurobond with a 5 3 4 pct coupon priced at par
now weve got a company that can compete with air canada said thomas bradley of richardson greenshields of canada ltd
other owners are a new england electric system nes unit with a 25 pct stake and southwestern energy production co with 15 pct
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
usair said it requested the dismissal because twa avoided pre merger notification requirements and also did not provide a competitive and public interest analysis required under regulations
single family starts rose at a 56 pct annual pace to 1317 mln units
the february figure was up 1889 pct from a year earlier
transcanadas announcement came as a surprise since dome was waiting for responses from creditors on its proposed refinancing packages gobert said
inventory was 75212711 versus 75985696 a year ago
us banks are not legally required to place loans on non accrual until interest becomes more than 90 days overdue
the aomi cargo distribution center which will start operating in october this year signed a similar agreement with rotterdams twinned port of seattle last september
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
payment is on may 1 and coupon date is may 1
the bank of japan alone is estimated to have bought about six billion dlrs in march in a bid to prop up the dollar
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
corporate insurance said it bought the cumulative convertible preferred stock stake for 199690 dlrs for investment purposes
the first two billion franc tranche carries a fixed interest rate of 830 pct with a life of 11 years 316 days and redeemable en bloc at par at the end of its life
our failure to maintain the momentum will be at great cost to us all moore said
the non callable issue is of unsecured unsubordinated debt
china has closed the second round of bidding by foreign firms for offshore oil exploration rights the china daily has reported
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
traders said they believed twa chairman carl icahn was the buyer of an 855000 share block crossed today by salomon brothers
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
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
ecuador would pay back the oil at a rate of 35000 bpd
the agreement between the two companies calls for a 50 50 joint venture in london focussing on investment advisory asset management market research and consulting on financing
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
uk february adjusted sterling m3 rises 2 1 4 pct m0 down 3 4 to one pct official
james burke president of merrill lynch capital partners said we are very pleased to have entered into this transaction with borg warner
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
breakwater will issue about 37 mln shares for all novamin shares presently issued and outstanding
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
the resolutions will be considered at the april 9 annual and special meeting the company said
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
shr 39 cts vs 26 cts net 3466000 vs 1913000 revs 277 mln vs 194 mln note period ended february 28
the sources however could not give comparative figures for 1985
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
the 12 nation community also charged the agreement gave us producers preferential access to the japanese market
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
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
rtz said the excellent performance of its expanding range of industrial businesses in 1986 was offset by the collapse in oil prices
canada sets oil industry aid package
dana corp dcn and unit downgraded by moodys
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
oecd sees german growth hit by low domestic demand
merrill lynchs statement at midday today said the firm will continue to cooperatie fully with authoriteis in the us and london investigating vaskevitchs activities
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
it said the fisher shares will trade in the over the counter market under the symbol fshg
kevlin microwave corp kvlm 3rd qtr feb 28 net
the company plans to sell the station to mca inc mca for 387 mln dlrs
cistron biotechnology cist sets dividend
french jan m 3 money supply rose prov adjusted one pct o7 pct fall in dec official
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
bigelow also said the company is comfortable with estimates that earnings will be between 375 dlrs and 425 dlrs per share for the year
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
khoo owned most of the banks equity before it was closed in november by the brunei government after some of its officials were charged with mismanagement
cyclops said remaining on the six member board are chairman and chief executive wh knoell president and chief operating officer james f
the government has said the land reform plan aims to distribute 97 mln hectares of land to poor peasants
bp also believed the acquisition represented the optimum use of its financial resources
though jardine matheson will be deprived of a direct stake in the high yield hong kong land and dairy farm units it is likely to develop its own business analysts said
morgan which has over 19 billion dlrs of brazilian debt said in its annual report it is possible that nonaccrual loans to borrowers in brazil could increase during 1987 however a spokesman for morgan told right now we are still accruing interest and we have not yet decided what will be done as of march 31 citicorp cci said last week that 39 billion dlrs of brazilian loans may be put on a cash basis on march 31
dyr liquidating corp formerly dyneer corp said its board declared a third liquidating dividend of one dlr per share payable to shareholders of record on april 14 and said it will file a certificate of dissolution on that date
on the last day of 1986 uccel completed the buyouts of six companies for a total of about 60 mln dlrs
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
prior year 4th qtr and year ended january 25 1986
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
the 65 pct represenmts telecoms principal operating asset
union carbide says 1986 long term debt was 306 billion dlrs vs 171 billion in 1985
japan us will be at odds while trade lopsided
an interest rate swap occurs when two issuers usually acting through a bank middleman agree to accept each others interest payments on debt securities
jw mays inc mayso 4th qtr july 31 net
world per capita consumption of vegetable oil will rise in 1986 87 for the third straight year
cpc international inc said it expects 1987 earnings per share to increase over 1986 levels
new progress is expected in all main sectors except capital goods where production will remain at its present level the report added
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
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
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
holly corp hoc 2nd qtr jan 31 loss
calgary based independent analyst james hamilton has said in recent reports that amoco corp an has also been in talks with dome
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
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
japan to cut microchip output boost imports
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
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
the plan calls for boosting exports by five to six pct in real terms this year after a 74 pct decline last year
but some of these gains were offset by low levels of interest rates
note the company this year consolidated wholesale and investment conglomerate ahlsell ab
an official at mineroperu comercial minpeco perus state minerals marketing firm said the agency was assessing the situation
specialty composites corp spcmo 3rd qtr net
the budget statement was broadly as expected with a continuation of existing policies and the absence of traditional pre election incentives would be viewed positively by overseas investors another said
yugoslav power industry makes new bond issue
qtly div 20 cts vs 19 1 2 cts prior pay june 20 record june 5
brazil recently stopped paying interest on its commercial bank debt
adm grain elevator explodes in burlington iowa
pillsbury said it expects the offering to yield 73 82 mln dlrs resulting in an after tax gain of 20 23 mln dlrs
gulf states utilities gsu gets qualified audit
quebecs caisse des jardins issues yen eurobond
the company said image video produces and distributes videos for the home market
the varying reports said dresdner shareholders may be offered one free share for every 15 18 or 20 already held
it said it had no intention of further reducing its holdings in either company
residential mortgage acceptance inc a unit of residential mortgage investments inc is offering 100 mln dlrs of collateralized mortgage obligations said sole manager merrill lynch capital markets
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
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
uk authorities have lost patience with japanese trading practices and said they are seeking ways to retaliate without unleashing a damaging trade war
he also said japan has not received any specific request from the us on its monetary policy although its short term money rates have been edging higher
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
also affirmed were the prime 2 commercial paper of chryslers finance arm and the baa 1 guaranteed eurobonds of chrysler credit canada ltd
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
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
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
algeria has already purchased 300000 tonnes of us durum wheat under a previous export enhancement initiative announced november 10 1986 it said
dutch money supply hardly changed in december
the company said proceeds from the 451 mln dlr offering will be used to reduce debt for working capital and for capital expenditures
henley group reviewing investment in santa fe southern pacific
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
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
detroit edison files shelf registration for one billion dlrs in bonds
newmont gold 95 pct owned by newmont mining corp nem said it expects significant increases in gold sales in 1988 and 1989 as well
however the company said its furniture and tire operations are more profitable this year than last year
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
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
noranda also has an option until june 30 1988 to acquire an additional 1000501 sanivan treasury shares at 575 dlrs per share
no other terms were disclosed
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
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
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
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
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
it cited chryslers proposed acquisition of american motors corp amo moodys said it would also review americans b 1 preferred stock for possible upgrade
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
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
colombia has shown interest because they will gain from a compromise
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
state department officials cited concern about the safety of ships passing through the straits on the vital oil supply run to the gulf
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
southwestern bell sbc votes split ups payout
steel stocks which have had a healthy runup recently still present some short term investment opportunities according to some steel analysts
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
guilford mills inc said it filed with the securities and exchange commission a registration statement covering a 60 mln dlr issue of convertible subordinated debentures
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
the company said transaction prices for contract accounts which have a duration of six months or more will also be increased to commensurate levels
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
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
capitol said its board raised the quarterly dividend to 23 cts from 22 cts a share payable april 28 record march 31
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
moodys also said a renegotiated bank agreement includes accelerated amortization requirements that exacerbate alleghenys already weakened ability to service its debt
this economic integration is probably the most audacious challenge facing latin america this century perhaps the most audacious of our history he said
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
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
last year snc earned 87 mln dlrs including a small extraordinary gain
purolator last year topped turnover of 465 mln dollars the spokesman said
it is now up to the government to decide whether to change the duty
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
hongkong bank of canada 1st qtr jan 31 net
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
und westbank ag vhbgf plans to streamline its branch network to improve its distribution of financial services management board member eberhard rainer luckey said
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
moodys also said it expects the company to have strong earnings this year
central banks have sufficient experience of exchange market transactions to steer exchange rates where they want to have them he said
an about turn on the imf issue would be politically very difficult for the sarney government and there are no firm indications such a policy reversal is in the offing
landmark savings association said it completed the sale of its whitehall pa office including deposits of about 31 mln dlrs to parkvale savings association
coconut product sales earned 4454 mln dlrs compared with 4530 mln in december and 4909 mln a year earlier
under the shelf registration time currently plans to issue about 250 mln dlrs of 30 year debentures to be used in connection with the tender offer and its previously announced plans to redeem its eurodollar debt issue
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 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
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
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
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
brazil bank committee agree on credit request
under the contract avco said the army will procure 3299 installed engines plus spare engines and a combination of modules and gear boxes
bank of england invites borrowing at 10 pct
cofab inc buys gulfex for undisclosed amount
1986 nine months period includes gain of 160431 dlrs or two cts a share from sale of ferrotherm co
at some point they will be more inclined to ease he said
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
he was questioned about this after the standard and poors corp downgrading today of the debt of six major money center bank holding companies largely because of their heavy developing nation loan exposure
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
about 80 pct of the surplus will come from the islands trade with the united states
however bad weather continued hampering cotton seedbed preparations in oklahoma
treasury secretary james baker predicted the us trade deficit would decline 15 20 billion dlrs this year
sumita says bank of japan has no intention of lowering its discount rate
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
plaza group completes merger transaction
this compares to a 04 pct gain in january us industrial production
us trade representative clayton yeutter also said it was important agreement on agricultural trade reform was reached as early as possible
some of the crop is far enough along so that its probably vulnerable krenzler said
kaufman and broad inc kb 1st qtr feb 28 net
proposals on how to value securities given by a debtor as collateral to a credit were slightly changed the paper showed
the current account balance of payments deficit is expected to be still around a high 125 billion dlrs next year after hitting a projected record 14725 billion this year it said
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
i think were near the top of the range in the europeans currencies he said
louis 303 303 amarillo lubbock 264 hrw hrs srw sww durum lou
the bank of england does not favour the introduction of rules to shield companies from hostile takeover attempts its governor robin leigh pemberton said
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
the department said the barley is for delivery april 15 may 15 and the bonus awarded was 4124 dlrs per ton
corrects current year operating net
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
valhi inc reported earnings of llc corp and the amalgamated sugar co for the six month period ended december 31
the operations acquired in the transaction have total revenues in excess of 23 mln dlrs the company said
us treasury says no comment on yen value
miyazawa added that it was difficult to say why there has been such speculative dollar selling in the market
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
baker seen winning german interest rates battle
training subsidies and exemptions from social security contributions are the main incentives for employers
we have only around 10 years of profitable logging left
minn
media general inc ups qtly div to 68 cts shr from 64 cts sets stock split
traders said the business was done at 2355 dlrs a tonne cost and freight
zinn and his firm which disclosed they hold a 51 pct stake in crazy eddie common stock said they may acquire more shares through a negotiated merger or tender offer
dole said that the united states has made the decision to trade with moscow and that its important to offer competitive prices
wholesale club inc whls 4th qtr jan 31 net
reliable life insurance co rlifa ups dividends
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
private consumption rose 41 pct during 1986 against 27 pct in 1985 whereas the finance ministry had expected an increase of only 36 pct
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
this was owing to high prices for the countrys coffee exports low oil prices low inflation and rising real incomes he added
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
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 
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 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 average sales price also declined to 13825 dlrs per long ton from 14105 dlrs in 1985
eastman kodak co said it has acquired an 187 pct equity interest in enzon inc a pharmaceutical company specializing in protein therapy
geodome goedf to start mine construction
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
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
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
us trade representative clayton yeutter called us japan relations on certain key trade issues very strained
the city of rotterdam today signed an agreement in principle to cooperate with the aomi cargo distribution centre in tokyo
snow fell in jiangsu anhui hubei and henan making early rice sowing difficult
the museum said it has 152 mln dlrs principal amount of gross revenue bonds outstanding and approximately 1350000 of unsecured debt
alex brown inc absb 1st qtr march 27 net
the buffer stock remains the sole instrument of market intervention for price stabilisation and its maximum capacity is unchanged at 550000 tonnes xuto added
sank off the west african coast early today and one of its eight crew members was killed a spanish navy spokesman said
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
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
gros said brazil has not submitted specific proposals to creditors and instead hopes that proposals would come through bilateral negotiations
domtar said its directors believe the split could favorably affect marketability of the shares and encourage wider distribution
north attleboro serves 2273 residential customers 288 commercial customers and 40 industrial customers
us federal home loan banks set debt offering totalling 255 billion dlrs
under a separate agreement the british government agreed to provide 7365 mln stg as a grant to develop a zinc and lead mine at rampura agucha and an associated smelting complex at chaneriya both in indias northern state of rajasthan the statement said
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
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
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
the offer would be made on the basis of 17 new woolworth ordinary shares for every 20 in superdrug
the us currency traded within a 145 basis point range in europe touching a low of 17940 and a high of 18085 marks
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
bell said in a statement that it now holds 2993 pct of bhps 12 billion shares
nevertheless japanese officials said they remain in a weak bargaining position especially with the threat of a trade bill overhanging them
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
american express said it anticipates a registration statement for the public offering will be filed with the securities and exchange commission shortly
gurria said mexico is not accumulating reserves for the sake of it
the apt set up in january is headed by banker and businessman david sycip
net charge offs totaled 156 mln brining the loan loss reserve at the end of the qtr to 1205 mln
it is difficult to be against the tax and against extra finance
mesa airlines inc initial offering underway
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
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
the pact was a major turning point in us policy ending a period of disdain for economic cooperation and intervention in currency markets
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
fed expected to set customer repurchases
on feb 18 1987 allegheny said it was cancelling the spin off of service america but gave no reason for doing so
in a filing with the securities and exchange commission bryson said it bought 440000 cenergy common shares on march 10 at eight dlrs each
carolyn bean publishing ltd said it has completed the acquisition of greeting card company millen cards which had sales of over 1500000 dlrs in 1986 for undisclosed terms
the 80 pct notes are convertible to one share on may 1 and november 1 of each year from next november
bids will not be received at the treasury department
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
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
silver prices rallied after a us brokerage house recommended its customers buy the metal traders said
ameritech ait regular dividend set
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
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
thousands of black mineworkers roared support for a union proposal to seize control of south africas gold uranium platinum and coal mines if the owners refuse to improve conditions for migrant black workers
commonwealth edison cwe files debt offer
brazils total grain crop is expected to be 653 mln tonnes
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
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
oper shr 180 dlrs vs 146 dlrs oper net 250 mln vs 202 mln sales 109 billion vs 9964 mln avg shrs 139 mln vs 138 mln year oper shr 320 dlrs vs 257 dlrs oper net 444 mln vs 354 mln sales 387 billion vs 343 billion avg shrs 139 mln vs 138 mln notes operating net excludes losses of 121 mln dlrs or 87 cts a share vs 321000 dlrs or two cts a share in quarter and 60 mln dlrs or 43 cts a share vs 51 mln dlrs or 37 cts a share from discontinued operations
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
bond activity in west german bond trading and syndication departments is also expected to be quieter than normal owing to the carnival holiday
micro general corp mgeno 4th qtr loss
sweden announced tax increases on petrol and heating oil from july 1 1987 to help finance a 17 pct rise in defence spending over the next five years
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
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
mountleigh group seeks 100 mln stg facility
hambros bank ltd was lead manager for the four year deal which pays 14 1 4 pct and was priced at 101 pct
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
manufacturing industry registered a 3 1 2 pct rise in production in february compared with january
iran warned the united states on monday against exacerbating the gulf crisis saying it would endanger american interests
manila said to offer debt bonds to banks
at current rate with tax credits is equal to 259 dlrs
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
soviet trade deficit with west soars in 1986
but in a statement accompanying year end figures the group said it expected satisfactory business development over the next months
in february 25 pct thought their export books were below normal and 50 pct believed them to be about normal
us warships in the gulf two weeks ago protected a kuwaiti ship which sailed to bahrain with us arms for bahrain and kuwait
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
first union corp first qtr shr 71 cts vs 61 cts
the us amoco petroleum corp has reported an offshore oil find at its pearl river basin concession in the south china sea the new china news agency said
docugraphix inc docx 3rd qtr jan 31 loss
in the consumer goods sector actitity rose sharply despite a fall in the household goods sector and stability in pharmaceuticals
economists have been banking on an improved trade performance this year to stimulate an otherwise sluggish canadian economy
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
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
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
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
but foreign exchange dealers were not overly impressed by the authorities intervention which they said can only soften extreme moves in the market
the key three months interbank rate was 1 16 point firmer at 10 9 7 8 pct
graff said we invested heavily in 1986 which we believe will result in higher future growth and earnings for the company
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 the province chinas second largest gold producer after shandong plans to double gold output by 1990 from the 1986 level
m
arco acr sells two operations
european nations and japan believe deficit cuts are essential to curbing the record us trade shortfall that reached nearly 170 billion dlrs last year
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
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
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
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
acceleration acle cuts stake in united coasts
lancer corp lacr 4th qtr net
the united states said last week it would back a 500 mln dlr bridge loan to argentina
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
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
the minimum reserve requirement for march before deduction of banks cash holdings was set at 61 billion marks
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
wedgestone realty investors trust said shareholkders have approved the acquisition of its advisor wedgestone advisory corp for 600000 shares
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
the price changes should lead to a pickup of pik and roll activity klopfenstein said
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
the us agriculture department has forecast soviet maize imports for the 1986 87 campaign at 490 mln tonnes against 1040 mln in 1985 86
lafalce said the facility could use funds of the world bank and international monetary fund as collateral to for the necessary financial banking to issue debt instruments
ec authorises export 55000 tonnes maize maximum rebate 130 ecus tonne trade sources
spot next and one week deposits climbed to 6 5 8 1 8 pct from 6 3 8 six on sunday
his resignation was accepted during a meeting with president jose sarney this afternoon the spokesman said
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
tenneco inc a company that has long been rumored to be a takeover candidate rose sharply today when speculation surfaced that investor t
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
the operation will put the outstanding bill supply at about 1300 yen
guardian royal profit up sharply at 1438 mln stg
cbc bancorp inc said it will be acquired by the memphis based union planters corp upcmo in a merger agreement
shr loss 15 cts vs loss 27 cts net loss 1905774 vs loss 2160717 revs 868117 vs 307135
carolina eastman employs about 1350 and the kingsport units affected about 10800
he said the foreign share of total profit would rise to 26 pct in 1987 and to 44 pct by 1990
but argentina did not suspend interest payments on its foreign debts as neighboring brazil did last week
the taiwan dollar has risen about 15 pct against the us dollar since september 1985
boston digital corp bosto 4th qtr net
also left unchanged were standard chartered banks ratings for short term deposits
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
orders to be shipped beyond 12 mths were 276 mln dlrs vs 171 mln dlrs at december 31
snow also extended across northern wisconsin upper michigan and northern lower michigan
the federal states holdings fell 26 billion to 24 billion
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
note full name is western tele communications inc
we have to know what they have and how that relates to what we need in total he said
analysts said that saudi arabia with assistance from opec president rilwanu lukman was trying to avoid an emergency opec meeting for fear that it would give the appearance that the december pact is falling apart
they said growers now forecast soybean production this season at between 75 and 78 mln tonnes down from last weeks estimate of 77 to eight mln tonnes and the 80 to 84 mln tonnes forecast in mid february
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
it sees cattle numbers remaining at around the 1986 level of 232 mln beasts in both years because herd rebuilding is expected to be slower than previously forecast
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
kanan said public investment was also near the planned level but investments by the private sector fell below expectations
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
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
grace received 993 mln dlrs cash and will record a pretax gain of about 37 mln dlrs in the first quarter the company said
it has been reported a key stumbling block in the talks is a canadian proposal to find a new way to settle trade disputes something that would give canada protection from washingtons tough trade remedy laws
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
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
he will arrive sometime later during the meetings here the delegate said
however the european representative on the task force herve de carmoy chief executive international for midland bank plc disagreed
net profit 305 mln francs vs 258 mln
the treasurys operating cash balance totaled 9212 billion dlrs on april 6 compared with 8880 billion dlrs on april 3
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
shareholders at the companys april 27 annual shareholders meeting will be asked to approve an increase in the authorized common shares outstanding to 200 mln from 100 mln shares a company spokesman said
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
schlang said the companys profits are concentrated in the fourth quarter
its a commodity business and becoming more so he said
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
gaf gaf seeks all of borg warner bor 
there is a short first coupon of 825 pct payable june 15
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
suna monitored by the british broadcasting corporation said omer made the remarks after a meeting in khartoum yesterday with imf envoy abdel shakour shaalan
sheldahl inc said its directors approved a three for two stock split payable april 24 record april 3
we dont believe that the economy has tipped over but see it more as a growth dip seipp said
dixons also said the previously announced sale of cyclops steel and nonresidential construction businesses to a former alleghany corp y subsidiary is expected to be completed june 30
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
syngold defines reserves on deka property
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
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
all remaining plants with a history or potential of shipping to the ec totaling nearly 400 would require more significant changes in plant constructions or procedures before further ec review
year on year growth in total m1 and local m1 was 263 pct and 276 pct respectively
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
european community criticises us trade measures
the sixth is in canada
it must be approved by a majority of shareholders
there is an even greater amount of stimulus than was originally thought said shultz speaking from washington
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
the trade balance registered a 35 mln dlr surplus compared with a 56 mln dlr surplus in january 1986
they saw exports falling by a real 2 1 2 pct in 1987 and predicted no marked improvement in the course of the year
these decisions on the merger were made in consideration of japans economic conditions and legal systems
frank b
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
coffee talks collapse eases need for us bill
fish meal production outside south america decreased slightly falling from 114400 to 111100 tonnes
gm stock has been a real laggard and now its rolling up its sleeves and getting serious
china chile to build copper tube plant in china
lai sun garment co ltd yesterday said it acquired a 10 pct stake in hk hotels from liang for 530 mln dlrs
pepsico offers to acquire calny inc for 1150 dlrs a share
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
healthcare services hsai sees write offs
the current account deficit will continue to show improvement in 1987 88 keating said
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
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
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
the march unemployment rate was the lowest since march 1980
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 so called anti dumping procedure opened by the commission will allow all interested parties to state their cases to the authority
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
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
he did not elaborate
balladur urges g 7 to respect pledges on monetary policy in louvre accord
api says distillate gasoline stocks up in week
it added the increased availability of foreign exchange for imports is expected to help the expansion of industrial output and exports
icn biomedicals inc bimd 1st qtr feb 28 net
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
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
tomorrow that eastern area will get 1 4 to one inch a pretty good rain mohler said
alternative crops may offer inferior returns which could then lead to lost export revenue and balance of payments problems
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
getty petroleum gty year net
louisiana pacific lpx to sell sawmill
shr 12 cts vs 10 cts net 189578 vs 100254 sales 3403914 vs 3122983 avg shrs 1617600 vs 954400
an acute crisis of confidence in equity markets over the past two days will in any case subdue personal consumer credit demand which has largely been behind growth in lending
port officials said they would meet association leaders today to try to resolve the dispute
it would increase production by 80000 barrels a day at a cost of 65 mln dlrs
petricioli nevertheless said baker showed flexibility in being prepared to accommodate different proposals and promised to look into alternatives
in the year to end october rank reported a rise in pretax profits to 1641 mln stg from 1360 mln previously
schleswig holstein landesbank lb finance bv is issuing a 30 mln australian dlr bond due april 30 1990 carrying a coupon of 14 5 8 pct and priced at 101 3 8 said anz merchant bank ltd as lead manager
union uelto ends pact to sell canbra cbfto 
holiday corp hia sells stake in venture
each right when exercisable will entitle the holder to purchase one one hundredth share of series c junior participating preferred stock for 50 dlrs
venezuelan bank begins signing debt contracts
redemption is on march 1 1997 the same date as the first tranche which was also issued at 9950 pct
rice research institute names new head
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
us m 1 money supply rises 19 billion dlrs in feb 23 week fed says
he said the state owned national aluminium co which owns the plant and the state owned mineral and metals trading corp signed its first long term export agreement with the company but gave no further details
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
lerner said he has no intention of influencing ameritrust management or its policies
evans sutherland escc files for debt offering
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
norway extends 75 pct oil output cut ministry
uk money market offered borrowing facilties
grindings rose to 55190 tonnes from 53643 in the first 1986 quarter
australian offer for san miguel shares
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
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
this is a change of nuance
panteras pant to buy ten pizza restaurants
royal bank sees improved results
the issue is callable after 90 days at 106 pct declining by one pct per annum to par thereafter
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
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
us bank net free reserves 644 mln dlrs in two weeks to feb 25 fed says
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
united stationers inc ustr sets dividend
bundesbank buys dollars in frankfurt dealers
producers gave no reaction to the scheme and will respond to it when the working group meets tomorrow at 1000 gmt producer delegates said
fairfax says higher tax hits first half earnings
barrett said it was natural that the market developed in switzerland
rather citibank said it was simply complying with the disclosure requirements contained in the us securities acts
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
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
in the northeastern spanish city of saragossa thousands of spanish farmers battled with police during a march to demand a better deal from brussels
world bank seeks more aggressive debt role
this program is advantageous to the corn users
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
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
bank officials said the march falls were due mainly to various measures by the bank to absorb excess money
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
the company said its property casualty group had a record loss from insurance operations last year of 859 mln dlrs after policyholders dividends up 25 pct from 1985s 710 mln dlrs
xerox credit xrx notes yield 8061 pct
german may current account surplus 75 billion marks april surplus 61 billion official
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
indonesia appears to be nearing a political crossroads over measures to deregulate its protected economy the us embassy says in a new report
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
white house standing firm on japanese sanctions
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
stone container establishes one billion dlr bank credit facility
denmark in 600 mln crown eurobond deal
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
the proposed agreement is subject to approval by the french government it 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
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
the april 9 sale will pay down about 25 mln dlrs as 9763 billion dlrs in bills are maturing
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
erekson ted ross and donald j
clearly those countries need to develop their export endeavours and they need open markets for that to happen and thats the basic objective of the new gatt round he said
current qtr after tax provision of 452000 dlrs
at the moment all the action is taking place in new york and tokyo one said
zimbabwe began producing 10 mln polypropylene grain bags this year to replace jute bags imported mainly from bangladesh
you dont want to put interest rates up unless you have to volcker told the senate banking committee
ibm had used xebecs hard disk drive controller products in the ibm pc xt a product which ibm is phasing out
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
borg warner up amid rumors irwin jacobs sold stock arbitrageurs say
the debentures convert to common stock at 14168319 dlrs per share or 7058 shares per 1000 dlrs principal amount through march 31
the administration court is not expected to make a final ruling on the case in the near future
the belg rains are used to plant quick maturing crops like maize and barley
their combined revenues are about 500 mln dlrs
korea plans to open markets to ease won pressure
i think the d mark market is still good but only if you can give a good coupon another manager said
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
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
payment date is april 13 1987
entex energy development ltd eed year loss
paint company has metex mtx stake may buy more
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
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
dome said the steep drop in crude oil and natural gas operating income was due to write downs totalling 193 billion dlrs and lower energy prices that sharply reduced revenue
the administration has proposed a goal of 700 million dlrs worth of strategic materials to be held in the stockpile
american brands said the notes are not to be sold in the us or to a us citizen
money supply rose a seasonally adjusted 5186 pct in the year to end april raising fears of higher inflation
icahn who heads and controls trans world airlines inc twa made the acknowledgement in a filing twa was required to make with the sec disclosing its 148 pct stake in usair group
but sources said foreign demand for the new federal government loan stock was slack as sentiment grows that the dollar may now rise against the mark
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
the three other lead managers are dncs parent company den norske creditbank scandinavian far east ltd and its parent skandinaviska enskilda banken
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
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
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
year to december 31 1986 shr 7891p vs 8305p div 165p making 235p vs 22p pretax profit 6017 mln stg vs 6144 mln net attributable profit 245 mln stg vs 257 mln turnover 334 billion stg vs 309 billion note accounts have been restated full name of company is rio tinto zinc corp plc rtzll group operating profit 5294 mln stg vs 4707 mln operating costs 281 billion stg 263 billion share of profit less losses of related companies 1044 mln stg vs 1650 mln interest receivable other income 415 mln stg vs 474 mln interest payable 736 mln stg vs 687 mln tax 2748 mln stg vs 2771 mln leaving 3269 mln stg vs 3373 mln rtz investment in australian associate cra has been equity accounted for 1986 and 1985 figures restated on the same basis after the reduction of rtzs interest to 49 pct in october 1986
it is open to shareholders registered on may 31
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
the bank of england said it had provided the money market with 37 mln stg assistance in the morning session
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
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
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
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
hong kong banks raise prime one half point to 65 pct
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
brazil is defining details of public selling tenders for coffee bought on londons futures market last year
the company said the increased dividend will be paid on may 13 to shareholders of record april 16
the board also authorized a special committee and morgan stanley to vigorously investigate pursue and authorize any alternatives which would maximize the value of shareholders investment in the company the company said
analysts said this was a new peak for the date
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 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
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
omnicom group inc omcm 4th qtr net
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
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
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
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
calstar inc csaro year april 30 net
we are in no particular rush to sell our shares in air new zealand he said
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
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
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
publishers equipment corp pecn year net
wolverine www to sell two subsidiaries
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
nasd denies application
bankers cited this as a typical example of how balance sheets could hide problems despite a drive by the central bank to standardise accounting
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
in writing the bill the subcommittee rejected calls for trade relief for specific industries such as textiles
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
to an extent this has become the minimum acceptable reduction level he explained
the governors agreed in january on a denominator on which to base currencies of the six states
the saudis are committed to that price level of 18 dlrs a barrel and are willing to make it happen again he said
recent heavy rains have not affected the peru coffee crop and producers are looking forward to a record harvest the president of one of perus four coffee cooperative groups said
a total of 77 billion marks in long term funds was placed with banks after 66 billion the previous month
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
if prices are lower the federal treasury makes up the difference
the embassys annual report on indonesian agriculture forecast coffee output in 1986 87 would be 577 mln bags of 60 kilograms each
under the scheme debtors are able to buy dollars at the preferential 750 bolivars rate but must also pay a premium
but economists said todays whiplash moves do not have long term significance and that markets should try to keep the underlying fundamentals in mind
the us and malaysia say their exports would also be hit by the proposed tax and they may take retaliatory action if it is approved
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
perus exports fell to 251 billion dlrs last year from 298 billion in 1985
armstrong tire co an armtek unit will continue to sell replacement industrial tires the company said
air canada said the acquisitions will complement its main cargo business
that was down from 2480000 the previous week
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
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
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
computer memories said hemdale agrees with this course of action
nevertheless mason thinks the money center bank stocks could be poised for a short term rally
last februarys figure had also been hit by the import of two passenger aircraft
it said a hearing to determine the amount of damages owed to the bank was set for april 21
it said the government and private exporters shipped 26272 and 46715 tonnes respectively
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
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
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
there was widespread rioting and looting in zambia last december after the government abolished subsidies on refined maize meal in line with imf recommendations
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
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
cross currency trading was also subdued though sterlings rise above 160 dlrs helped it to firm against the mark
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
it will take four years to negotiate
interest will cease to accrue on may one the unit said
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
the company said the production phase of the contract has a potential value of about 300 mln dlrs
willis faber plc wifll will make an agreed 3026 mln stg offer for fellow insurance broker stewart wrightson plc a joint statement said
boston five said its president peter j
other food samples sent for testing at cologne university including honey fruit vegetables pork milk and butter were found to be free of radiation it said
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
outokumpu to close nickel refinery during summer
usx corp said its uss steelmaking division increased prices on plate and h pile products
no other details were available
bank of japan intervenes to stem dollar fall
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
energy us oil output
at the frankfurt fixing on tuesday the dollar was quoted at 17918 marks compared with 17740 on monday
garn a utah republican said i am talking about specific retribution on a company that endangers the security of their own country and ours
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
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
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
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
french companies ste nationale elf aquitaine elfppa and total cie francaise des petroles tpnpa which were expected to receive operatorships following frances agreement last autumn to purchase gas from norways troll field were not offered operatorships in this round industry sources said
the money could be spent only on goods produced and supplied by british firms excluding luxuries and defence equipment the spokesman added
pay date is april 21
price co said it agreed to buy at least 81 pct of the stock of tss seedmans inc for about 50 mln dlrs
but these will be made available to you ongpin confirmed on tuesday that a report from new york that manila will pay its commercial creditors 111 mln dlrs over 1987 1989 was accurate
diamond shamrock raises crude posted prices one dlr effective march 4 wti now 1700 dlrs bbl
we have no objection to soriano buying the b shares diaz told 
they arrange primarily with japanese banks to exchange yen funds into other currencies mainly dollars bond managers said
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
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
vornado inc vno 4th qtr jan 31 net
several shells fell in a random manner on the northern border of the country the official told kuna
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
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
s and p said the downgrade reflected expectations of restricted financial flexibility through at least the intermediate term
brazil says debt crisis is world problem
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
the group already controls 1647481 fairchild industries shares or 115 pct of the total outstanding
as a result the bundesbank was concerned to make no move that would interfere in the negotiating process geipel said
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
turkish central bank sets lira dollar dm rates
the market has not approached the old price limits and trading is relative quiet in narrow ranges he added
us exporters report 200000 tonnes corn switched from unknown to ussr for 1986 87
bzw is currently forecasting a higher sale price at between 15 billion and 17 billion
uk minister looks to ease tension with japan
cocoa consumers accept compromise buffer plan
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
the official who asked not to be named told that the guarantee was given in an unpublished clause of the agreement
the aguarico bridge was also close to the volcano he said
the bank of japan sources also said that it was too soon to call the g 7 pact a failure
the only decision k mart has made is that we will continue to operate them he said kresge had been a nationwide chain of 900 variety stores
greengrass said this represents an earnings per share increase of approximately 25 to 30 pct
sallie mae adjusts short term discount note rates
french ministerial meeting held on cgct sale
at todays auction however the bank left the rate unchanged
the company planned to borrow 200 mln dlrs and sell 800 mln dlrs in debt to finance the payout
the bonus will be paid in the form of commodities from ccc stocks
anzola said exchange agreement no
south koreas trade surplus is growing too fast and the government has started taking steps to slow it down deputy prime minister kim mahn je said
non callable to maturity the issue is rated baa 2 by moodys and bbb plus by standard and poors
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
little effect seen from cold storage report
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
nvhomes lp said its board declared a two for one split of class a units payable to shareholders of record on april 20
this means traders could quote a two way price for the bonds but would not be bound to trade them
energy us refining
showa denko withdrew from smelting last year but expects to increase its sales of equipment and technology he said
denmark issues 200 mln ecu eurobond due 1992
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
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
but i do suggest he said that we need something to give it more stability and to keep it headed in the right direction when the wind shifts he said that indicators can serve as a kind of compass but added that structural indicators can help focus attention on some policies
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
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 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
the growth will be helped by higher stockbuilding and stronger domestic demand following tax cuts and higher real wages it added
figures in dollars
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
co says it expects results for the second half year to be similar to those of the first half
the dividend is payable april 14 to holders of record march 31
in a newspaper advertisement the company said the offer and withdrawal rioghts will expire april nine unless extended
it foreign earnings for oil and petrochemcial sales were 8023 billion dlrs
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
financial terms were not disclosed
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
french 13 week t bill average rate rises to 739 pct from 736 pct official
it will extract enough ore to provide an estimated 25 mln dlr profit by the end of this year he added
trw inc trw sets pact with tektronix tek 
telephone and data systems inc tds 4th qtr net
moodys investors service inc said it downgraded 50 mln dlrs of debt of florida national banks of florida inc and its lead bank florida national bank
the company said its net crude oil and condensate production averaged 248200 barrels per day in 1986 compared to 251300 bpd in 1985
the new bid was contained in a letter to the supermarkets general board
the group held about six pct of harper and row
brennan said he expected brazil to be able to reach an equitable agreement with foreign banks on restructuring its 68 billion us dlr foreign debt because the brazilian economy is essentially healthy
the company said the new order supersedes an order issued by the department last friday that would have required usair to sell within one week of expiration of the tender any piedmont shares it held in excess of 51 pct of the piedmont stock then outstanding
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
as crude production also fell there is likely to have also been a decline in non reported stocks particularly at sea the iea said
we have great respect for borg warner mangagement heyman said following a speech at the american institute of chemical engineers annual meeting
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
argentine vegetable oils shipments during january november 1986 totalled 1693951 tonnes against 1469208 tonnes in the same 1985 period the argentine grain board said
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
the companys stock is currently trading at 19 1 4
barclays is a co chairman of the commercial bank steering committee
its still pretty early for cotton planting
the extended decline in japans overall business performance was likely to bottom out in the current january march quarter the finance ministry said
bankamerica corp says it places 19 billion dlrs of brazilian loans on nonaccrual status
may said it expects to close the deal which includes the entire division and its 1000 employees in april
world bank loans hungary 70 mln dlrs
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
but they added that french ministry officials were continuing the contacts to exchange views on market performance
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
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
the company also changed the stocks par value from 10 dlrs a share to 250 dlrs a share
mitsubishi chemical industries ltd mcitt year
first interstate also has about 168 mln dlrs in short term loans or trade lines to brazil
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
lifetime corp lft year march 27 net
there is a 1 1 2 pct selling concession and two pct combined management and underwriting fee
s korean trade surplus with us seen falling
dart group said it will not solicit proxies or attempt to acquire dayton hudson
eager technology inc said it signed a letter of intent to acquire nuclad inc a private colorado corporation and its subsidiaries
elxsi ltd said it sold three computer systems worth four mln dlrs to douglas aircraft co a unit of mcdonnell douglas corp
the world bank has suspended loans to peru because the country has over two months of payment arrears with the lending agency central bank general manager hector neyra said
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
the main units will resume operation next week but the hydrocracker will be closed for an unspecified period
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
lead underwriters are william blair and co and mcdonald and co investments mdd
citibank launches currency warrants
japan has no plans to cut discount rate
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
proceeds will be to refinance outstanding debt or for general corporate purposes the company said
the sparks study said that 51 billion dlrs or 70 pct of those savings resulted from smaller government storage costs
we are deliberately defending the price so opec production is less than 158 mln at the moment he stated
swire had an extraordinary gain of 591 mln dlrs in 1985
connery and other analysts noted that talk of a cut in the lombard rate after sluggish west german industrial production figures also provided some support
methode electronics inc methb regular payout
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
brazilian finance minister dilson funaro said his countrys foreign debt crisis could only be solved by changes in the international financial system
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
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
it would not be sensible to provoke another dispute between europe and the united states jopling said in remarks prepared for an evening speech
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
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
scotts hospitality inc said it acquired capital food services ltd ottawas largest catering and food service company for undisclosed terms
terms were not disclosed
us business loans fall 660 mln dlrs in march 11 week fed says
the department said lead and zinc prices fell while hardwood lumber and cement cost more
anacomp rose 1 2 to 6 3 4 on volume of 950000 shares after trading as high as seven earlier
the united states and japan are on the brink of serious conflict on trade especially over semiconductors japanese unwillingness for public bodies to buy us super computers and barriers to us firms seeking to participate in the eight billion dlr kansai airport project us trade representative clayton yeutter said
the other lead managers are state bank of india and grindlays bank plc
analysts said the 52 dlr per share offer was underpriced by about six dlrs per share
justifiably not anticipating either a recession or seriously higher interest rates securities market participants have seen little to fear wojnilower said
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
both schlang and morbelli noted that high growth rates had catapulted chemlawns share price into the mid 30s in 1983 but the stock languished as the rate of growth slowed
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
theres no real reason for it to change policy said joseph liro of sg warburg and co inc
alaska housing has 150 mln dlr syndicated loan
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
the reduction in borrrowing needs was brought about by an eight billion dlr decline in the governments financing requirements a run down in ottawas cash balances and generation of 23 billion dlrs from foreign exchange transactions
us officials said the most likely move against japan would involve duties on semiconductor based goods such as televisions video cassette recorders and computers
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
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
agreements to sell both systems for a total of 100 mln dlrs were reached in october
prices could fall another 10 cents to 15 cnts a pound analysts said
annesley also dome petroleum may be able to sell its dome mines shares at a premium to market prices
imports for the december 1986 quarter were 2655 billion against 2883 billion in the september quarter and 2454 a year earlier
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
the acquisition will be completed this month as both the japanese and portuguse governments are expected to give permission soon
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
virginia housing agency cmo bond issue priced
olivetti spa
note company lowered to nine pct from 135 pct interest rate on outstanding subordinated loan for period august 1 1987 to july 31 1988
lawrence inc referring to both brazil and citicorp
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
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 
this capped the us 1987 high yield on the 30 year bond of 793 pct seen yesterday
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
it had net income of 51 mln dlrs or 316 dlrs a share on 16 mln average shares outstanding last year
about 9000 miners employed by the state corporation comibol went on hunger strike to press for higher wages a miners union spokesman said
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
goodyear tire to receive 588 mln dlrs for goodyear aerospace from loral corp
were not seeking a universal solution he said
argentina has said the barriers and subsidies cut unfairly into the countrys traditional markets for its grain exports
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
while not entirely unsympathetic to critics of its policies the central bank keeps its grip firm and the range narrow
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
advanced telecommunications corp said it reached an agreement in principle to purchase teltec savings communications co a long distance telephone service in florida
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
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
brunswick is currently test marketing in california a health club facility adjoining a bowling center he said
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
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
swire pacific ltd swpchkg expects continued growth in all divisions this year though it sees problems in the marine sector chairman michael miles 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
the issue is non callable and is collateralised by us treasury and agency securities and cash and will be offered in targetted registered form
ecuadors opec oil output quota is 210000 barrels per day bpd a senior energy ministry official said that one pumping station at el salado on ecuadors main pipeline was damaged
cbsi said it expects to complete the deal pending nichols shareholder and regulatory approval later this year
beneficial bnl downgraded by moodys
xuto said the new inra retains the reference price of 20166 malaysian singapore cents per kilo and indicative prices set in the present pact
imports rose to 708 billion from 533 billion last year
michigan general mgl to sell krestmark unit
the commerce department said all canadian firms have begun to pay an agreed 15 pct surcharge on softwood shipped to us markets
the suit says this rule is arbitrary and capricious
qtly dividend 22 cts vs 22 cts pay april 30 record april 10
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
he said the effect of the tax would be to double the price of soyoil produced from imported soybeans making margarine made from soyoil more expensive than tallow based margarine and closer in price to expensive european butter
an egyptian trade official in paris confirmed cancellation of the tender following the islamic corp offer which he said the government had refused for legal reasons
the delegates include us trade representative clayton yeutter
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
cuban president fidel castro told a congress of the union of young communists here that the production of crude sugar during the harvest still in progress is 800000 tonnes behind schedule
the offer is also subject to a minimum 4425 mln shares or 51 pct of the outstanding shares being tendered
last months rate was down from 802 pct in february 1986
their initial sale to soriano through smc hong kong unit neptunia corp was blocked by the presidential commission on good government
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
single family starts rose last month from january levels by 56 pct to 1317 mln units on a seasonally adjusted basis while multi family unit starts fell 41 pct to 534000 units the department reported
new bank lending has been slow in materializing but the fact of the matter is there have been 70 billion dlrs in bank loans restructured which is a form of extension of credit
sandustry plastics inc spi 4th qtr net
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
current year net both periods includes 6700000 dlr writedown of inventory of clinical chemistry products
the loan is repayable in 40 years including a 10 year grace period
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
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
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
caisse daide a lequipement des collectivites locales caecl is issuing a three billion franc two tranche domestic bond the lead managers said
chicago milwaukee chg greets shearson stake
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
representatives of us sugar grower organizations said they expect some increase the area planted to sugarbeets this year and said the prospects for the 1987 cane sugar crop also are good
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
walbro corp said it expects its first quarter results to reach all time highs it projected sales exceeding 32 mln dlrs or up 21 pct from the 26488000 dlrs reported for the 1986 first quarter
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
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
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
it said the issues which are for settlement march 25 mature march 26 1990 march 25 1992 and march 25 1997 respectively
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
the securities will be available in bearer or registered form in denominations of 5000 dlrs each
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
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
the debentures due 1998 were issued in 1984 and were zero coupon notes for the first five years
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
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 debt problem will not be solved unless developing countries are allowed to grow he argued
since prices are below the may buy level of 1655 special drawing rights a tonne set in the cocoa pact the manager is likely to buy cocoa sooon to support the market they said
its purchases from the united states include electronic testing equipment grains and cotton
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
it said the offering will be underwritten by smith barney harris upham and co inc ef hutton and co inc morgan stanley and co inc dean witter reynolds inc and piper jaffray and hopwood inc and will provide a security convertible into apache at any time prior to maturity in the year 2012 unless redeemed earlier by the company
william bywater president of the international union of electronic workers called on president reagan to retaliate against japan for unfair practices in semiconductor trade
willy de clercq external relations commissioner of the european communities told a news conference that chinas application would involve long and difficult negotiations
clark equipment ckl stake acquired
that should end speculation and remove at least one excuse for hoarding dollars aquino said
gold reserves were revalued by 895 mln dlrs while sdrs ecu and convertible currency holdings were revalued by 1995 billion
bankamerica bac chair says bank turning around
opening a debate on free trade in the house of commons mulroney said an accord would create thousands of jobs in canada and bring greater economic prosperity to both countries
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
pat fashions imports apparel from the far east and makes apparel domestically as well
in lusaka business went on as usual and there was no sign of troops or police reinforcements on the streets
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
texaco txc canada to raise crude oil postings
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
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
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
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
from july 16 1990 aegon may at its option redeem early the bonds in whole or in part
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
it also requests damages to be determined at the time of trial
dealers in frankfurt and zurich saw the dollar remaining broadly entrenched in its current trading range
denominations are 10000 crowns and registration is in luxembourg
the shares are to be held in a voting trust pending the departments review of usairs application to obtain control of piedmont
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
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
it said it may spend as much as three mln us dlrs excluding capital costs to bring the mine into production
goody good to sell unit to union camp ucc 
sony corp snet group net income is expected to be down 65 pct for the five months ending march 31 from the same period a year ago at around 10 billion yen if the yen27dollar rate remains at the present level managing director tsunao hashimoto told a press conference
mickelberry corp mbc sets qtly payout
this will ease the cut throat competition which forced most yards to sign orders below cost the sources said
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
american motors amo statement qualified
atlanta ga based neptune which makes water meters and flow measurement equipment had sales last year of 80 mln dlrs
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
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
it owns 60 pct of the westin in edmonton
usda officials however would not commit to any time frame
swift independent packing co sftpr 1st qtr net
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
exports in 1985 86 at 1257 vs 1257 last month
eastgroup properties egp dividend jackson miss may 20 qtly div 65 cts vs 65 cts prior payable april 22 record april 10 notecompany paid 30 cts special dividend along with prior quarters dividend
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
shr 82 cts vs 72 cts net 446 mln vs 389 mln avg shrs 543 mln vs 528 mln
the dispute centres on the fact that section 337 of the us tariff act gives the itc jurisdiction over imported products
bank of new england corp 1st qtr shr 104 dlrs vs 83 cts
payment date is april 1 listing is in luxembourg and denominations are of 1000 and 10000 dlrs
the notes will be guaranteed by the commonwealth bank of australia and will be placed with investors in the asian dollar market
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
imperial oil imoa raises crude 32 canadian cts
the new facility replaces old seven day advances worth 48 billion guilders at the same rate
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
the earthquake last thursday night registered six on the 12 point international mercalli scale
it said its dealings in the companys stock are on behalf of its clients
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
the fourth quarter resulted in a net loss of 227000 or four cts compared to a loss of 330000 or six cts a shares last year
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
baker pointed out that western nations which provide 95 pct of the banks financial resources represent just 46 pct of the vote
only two days were suitable for fieldwork
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
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
japan ministry has no comment on rice talks report
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
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
the bank report said indonesias rice production had peaked and the subsidies are a waste of money
the sources said the buyers are believed to be a group of institutions
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
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
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 
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
santos says profits hit by oil price fall
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
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
this will create the flexibility to draw and re invest funds in either equity shares or short term bank deposits they said
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
a spokesman for sun chemical was not immediately available
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
cdc life sciences lsito stake sold
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
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
borg warner corp said it has had discussions with irwin jacobs on his interest in the possibility of minstar inc mnst a jacobs controlled company being given access to certain non public information about borg warner
the issue is guaranteed by sumitomo bank ltd and final terms will be set on april 8
shattner believes the company will post better results this year due to several factors
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
grain reports improve us farm outlook analysts
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
the company reported a second quarter loss last year of 19 mln dlrs or 14 cts per share on 239 mln in revenues
thailand expects smaller sugarcane output
the annual turnover rate at the facility is 100 pct he said
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
sun electric corp se 1st qtr jan 31 net
interest rates were being discussed on a bilateral basis under paris club rules he added
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
the company said it intends toi proceed with filing a reorganization plan for transamerican with the us bankruptcy court in houston
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 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
bp says it will tender for remaining 45 pct of standard oil at 70 dlrs a share cash
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
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 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
a company spokesman said the company and union met informally tuesday but talks did not constitute a formal bargaining session
first boston and kidder have been advisers to gencorp in the past he said
standard logic inc stdl 1st qtr loss
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
individuals are not heavily invested in stocks on their own although they do participate through trust funds and other investment vehicles
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
previously chinese entities have always acted as co lead managers whether for chinese or foreign issues
australian currency trading set record in january
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
it also exports copra and copra meal
the non callable bond is available in denominations of one mln yen and will be listed in luxembourg
that the holiday inns deal sold out quickly underscored the appetite of many investors for high yield securities
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
us ruling on brazil fcoj may come tomorrow
more
dividend pay april 30 record april 16
chancellor of the exchequer nigel lawson said he was content with the current level of sterling and welcomed todays announcement of a further half point cut in british bank base lending rates to 10 pct
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
federal reserve weekly m 2 components feb 26 week feb 16 vs feb 9 daily avg billions seasonally adjusted unadjusted currency 1869 vs 1868 1856 vs 1857 demand depos 3003 vs 3000 2915 vs 2956 other check 2429 vs 2412 2400 vs 2427 savings 1643 vs 1632 1628 vs 1619 small time 3622 vs 3629 3619 vs 3627 mmdas commercial bank only 3782 vs 3791 o n repos 589 vs 590 o n euros 186 vs 192
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
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
shr nil vs same final and yr div nil vs same pre tax pre minorities loss 353 mln dlrs vs profit 1740 mln
including discontinued operations and the special item net income was 598 mln dlrs or 621 dlrs a share fully diluted
attacks affect colombias oil outlook ecopetrol
the brazil announcement came later he said
but theyve been bailing out this week because the march has been acting like there will be a lot delivered if not tomorrow then later in the month he added
cityfed financial corp ctyfo 3rd qtr loss
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
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
midivest acquires assets of business aviation
the cocoa buffer stock rules just decided by the international cocoa organization icco council will take effect immediately delegates said
this confirms provisional figures released at the end of last month
interest rates also fell the same week in britain belgium and italy
revenue for the nine months rose to 320 billion dlrs from 270 billion dlrs
taiwan tendering thursday for us corn
convergent solutions inc csolo 2nd qtr net
duff and phelps today raised the ratings on general public utilities pennsylvania electric co
sarney meets brazil business leaders
it earned 11 mln us dlrs pre tax in its last reported full year 1985 and 60 mln in first half 1986
supplies mideast tension fuel gains in oil
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
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
reagan signs gnma bill with reservations
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
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
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
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
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
shr loss 97 cts net loss 1364453 sales 737971 note company in development stage
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
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
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 
caterpillar cat reaffirms first quarter outlook
some of these are expected to be held for mixing in with early temporao arrivals
uk money market receives 226 mln stg assistance
its probably a sensible approach on their part the british source told 
the report describes the facilities in darlington county sc and fayetteville nc the company said
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
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
ratings lowered include those on usxs senior debt to ba 1 from baa 3
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
so long as edelmans stake is below five pct he is not required to report his dealings in lucky stores stock
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
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
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
zollinger said total is waiting for the river waters to recede before they reactivate the pipelines
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
kidnapped businessman released
i do not expect any major tax cuts as all the sweets were given out before the election
plan approval
shr 53 cts vs 46 cts qtly div 28 cts vs 25 cts prior net 747 mln vs 632 mln revs 108 billion vs 101 billion nine mths shr 178 dlrs vs 160 dlrs net 2444 mln vs 2197 mln revs 333 billion vs 315 billion note dividend payable april 10 to shareholders of record march 23
but the index was down 29 pct from a year earlier
brown forman inc said its board has approved a three for two stock split and a 35 pct increase in the company cash dividend
norsk hydro issues 100 mln dlr bond
the fact the dollar plunged below 150 yen does not mean anything significant under the floating system he said
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
cascade importers unit acquires paris company
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
zambian minister confirms copper diversion
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
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
a ciba geigy spokesman declined to say how much the venture would cost
the credit terms extended for export sales under the intermediate export credit guarantee program gsm 103 must be in excess of three years but not more than seven years
the fcc has approved the transaction but several parties have appealed
portuguese grain agency ban to remain ec sources
the analysts agreed success would depend largely on how sterling performs in the near term
the total number of jobless stood at 495208 compared with 508392 in february and 504652 in march last year
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
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
the office of finance of the federal home loan banks announced a debt offering totalling 255 billion dlrs consisting of three issues
sugar quota imports detailed usda
esso saf essfpa the french subsidiary of exxon corp xon said it had no immediate plans to shut down one of its two refineries
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
it added that it expects future operating results to be improved because of the closing of the two warehouses
mthly div 14248 cts vs 4912 cts prior pay april 10 record march 31
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
proposed offerings recently filed with the sec
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
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
southern national corp snato 1st qtr net
the italian treasury said it will issue 3000 billion lire of a new type of indexed government paper discount certificates cts on march 18
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
us reaffirms opposition to ec oils tax plan
the bubble of frustration against what appears as japanese prevarication burst last week
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
swiss money market paper yields 3286 pct
official prices had been effectively dropped in 1985 when members offered discounts to attract customers
general mining union corp ltd genmj year net
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
but tenneco would be a challenge to run because of its sheer size and diversity
subscriptions for this second tranche close april 14 and payment date is april 27
borden inc said it called for redemption on may one its outstanding 605000 dlrs of 4 3 8 pct sinking fund debentures due 1991
one thing is going to be clear and that is im going to the meeting and putting up no greenmail gabelli said
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
this is not really of benefit to us firms either said jardine fleming securities ltd analyst nick edwards
the company said it continues to take actions to make it more competitive including cost and expense reduction measures
its stock rose 8 5 8 to 24 in active trading
the delivery period for the cattle is april 1987 june 1988 it said
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
a handful of professional houses are targetting the weak paper shorting it aggressively and this is just starting the domino effect with basically sound paper also starting to roll with it a senior frn market source explained
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
federal funds were trading at 7 5 8 pct at the time of the direct injection of temporary reserves dealers said
the market in floating rate notes showed no clear signs of recovery today from the confusion which sent prices tumbling and paralysed trading at the end of last week dealers and bank officials said
volcker sees tight policy hurting investment
of the total 800 billion yen will yield 36004 pct on sales from money houses to banks and securities houses in 34 day repurchase agreements maturing on august 3
it will begin in la pampa within about 10 days weather permitting
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
the us treasurys regular weekly bill auction is expected to produce an average yield of about 574 72 pct for the three month maturities and 582 81 pct for the six month dealers said
last week the automated ticket systems supplier reported a loss of 12 mln dlrs for the 1986
the situation in the refineries was calm it said and the employees had indicated their willingness to negotiate a pay deal
we are negotiating so that the debt question should not be one of continuous crisis funaro told a conference in rio de janeiro this week
ceco said drexel burnham lambert inc acted as cecos agent in this transaction
blockbuster entertainment corp bbec year loss
bob matsui a california democrat
plenum publishing corp plen 4th qtr net
despite the unprecedented size of this euromarket facility morgan guaranty said that it was being syndicated only among bps relationship banks
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
currency in active circulation rose to 542 billion dlrs from 503 billion in december and 484 billion a year ago
30
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
carter joined metex in 1982 where he was formerly its executive vice president
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
short term it looks like a definite test of 90 cents perhaps 85 cents said william oneill coffee analyst with elders futures
with the increase in size large dealers have been buying up other dealerships and auto analysts see few signs the trend will let up
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
but other businessmen said such a short term commercial advantage would be outweighed by further us pressure to block imports
rio coffee trade prefers no pact to quota cut
shamrock said it had asked for certain information about holly sugars financial condition but had been turned down
oil at 18 dlrs a barrel brings much more confidence than 10 dlrs a barrel he said
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
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
adsteams managing director john spalvins will become chairman of markheath and two other adsteam nominees will join its board
with the exception of commerce all major sectors of the economy contributed to the fourth quarter rise in domestic production
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
multibank financial corp mltfo 3rd qtr 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
the us trade gap with taiwan rose to 157 billion dlrs in 1986 from 131 billion in 1985 while the bilateral trade deficit with south korea grew to 71 billion from 48 billion
the central banks statement added that the measure would be effective until the end of july
borg warner to sell industrial products business for about 240 mln dlrs
further gains are possible if the ussr steps up its buying or if labour problems develop in north america they added
the cpa includes the worlds top three producers ivory coast brazil and ghana and accounts for 80 pct of all output
foreign exchange trading income totaled 713 mln dlrs up 443 mln from a year ago
the western creditor governments and kuwait agreed on march 31 to refinance 475 mln dlrs of yugoslavias debt due in 1987 and 1988
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
nyse says general refractories grx no comment
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
united artists uacio suspends merger talks
amcs large losses in 1985 caused principally by the international tin crisis were the reason behind the world group losses that year
gencorp says it expects to complete sale of wor tv this week all challenges resolved
the government of japan reaffirmed its intention to further open up its domestic markets to foreign goods and services
permian said december 1986 future net revenues from proved reserves were 3356 mln dlrs down from 8142 mln dlrs in 1985
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
harper row hpr gets expressions of interest
gary miller chief financial officer of afg said his company has a record of acquiring mature businesses and boosting productivity
new generation has annual sales volume of about 30 mln dlrs federal resources said
us seismic crew count drops 6 pct in february
japan sees higher money supply growth this quarter
there will not be any change he said
the european investment bank launched a 300 mln danish crown seven year bond withan 11 pct coupon and pricing of 101 pct
the refinery is run by suralco jointly owned by the us company alcoa and the dutch company billiton which is a wholly owned subsidiary of royal dutch shell
the haitian american sugar company closed on friday because of a huge surplus of unsold sugar
pegasus gold pgulf starts milling in montana
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
premdor inc said it planned a two for one common stock split subject to shareholder approval at the may 4 annual meeting
but japanese cultural differences will be harder for germans to overcome
it said the payments were suspended because of certain covenants contained in its loan agreements
after the announcement the companys stock retreated closing at 93 7 8 up 1 3 8
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
it would also give the commerce department primary authority to decide which exports will be permitted and limit the defense department to an advisory role in reviewing requests to export highly sensitive technology
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
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
in addition retail prices and salaries stabilised last months
ico board seen unlikely to set new coffee talks
japans housing starts in february rose 134 pct from a year earlier to 109254 the 10th successive year on year gain the construction ministry said
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
joskes has 26 stores in texas and one in arizona
it gave no more price details
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
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
terms were not disclosed
vulcan vul sees first quarter operating loss
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
southam said the proposed sale resulted from an offer made by whitehead whose family has had majority control of the newspaper since 1905
in the letter the partnership said it was confident it could obtain the financing and close the transaction promptly
fhlbb changes short term discount note rates
a deutsche bank spokesman here said he had no knowledge of a possible equity linked fiat bond
swedish export credit launches australian dlr bond
the bourse said trading would resume again on monday
there are wide areas of agreement
exxon xon oil and gas production rose in 1986
while roth american said it is still interested in acquiring turco atcor said it is now reviewing its options with other potential buyers who have expressed interest in its consumer products businesses
myers neomar resources inc and richard l
eia says distillate stocks off 88 mln gasoline off 500000 crude off 12 mln
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
cellular communications commo closes buyout
in a major area hit by drought san miguel practically no rain has fallen in the past 14 months
the bank of japan was believed to have bought some 15 billion dlrs and this with comments by japanese officials indicated tokyo was unhappy about the plunge dealers said
net earnings were 326 mln dlrs in 1985
morocco tenders for 55000 tonnes pl 480 soyoil
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
but reforms including upgrading the quality of goods and allowing joint ventures with foreign firms will encourage modest export gains in future
the nations agreed that currency exchange rates were at about the correct levels when the pact was signed earlier this year
teeco properties lp said the partnership recorded income from operations for 1986 of 140000 dlrs or two cts a unit
he did not elaborate
taiwans surplus with the us hit a record 136 billion us dlrs in 1986
winter grains in england france and northern italy remained dormant
he said the february fall was spread throughout the country and among men and women
santa anita cos sar 4th qtr net
cash flow 572 billion francs vs 670 billion
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
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
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
the house foreign affairs subcommittee on international economic policy voted to direct the administration to cut the list of controlled exports by 40 per cent by removing items no longer considered important to us military security
that is really a strong rationale why we need a new gatt round he said
seasonally adjusted however there was a slight rise in unemployment
it said the offering was a new issue and not a reopening as stated yesterday
net charge offs totaled 419 mln vs 422 mln while provisions for loan losses was 566 mln vs 522 mln
nigeria and france have signed a bilateral agreement to reschedule nigerias official debt to france government sources said
it said the purchase price of the line is 81 mln dlrs
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
at the meeting company officials said american express stock is undervalued and does not fully reflect the performance of shearson according to analysts
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
ccf one of the top seven banks is also being sold by the government this year
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
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
but he did not give any specifics on further repurchases beyond the 10 mln shares already announced
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 only way to keep our good record is to maintain our exports the trade minister said yesterday should seoul revalue the won suddenly korea would run a tremendous trade deficit and could degenerate into a country like many other developing countries which is reneging on its international obligations the spokesman said south korea had been gradually appreciating its currency ruling out a major revaluation
economic spotlight euroyen bond issues increase
any stockbuild would be a negative factor they said
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
no one argues that tokyo is cheap but long time residents see no need to spend the 2000 to 15000 dlrs a month spent by foreign firms to house executives in western style homes
on the us west coast however netback values for ans cif la were weaker with weak gasoline prices sending the yield at cracking plants down 68 cts to 1842 dlrs from the previous friday as shown below in dlrs a barrel
but growth rates will be smaller than last year with 15 to 25 pct likely in most industrialized countries he told a news conference
henry ansbacher holdings plc said it has acquired a 51 pct interest in the us retail and general corporate insurance broker adams and porter inc the move is the first step in building a new international insurance broking group following the appointment of a new management team for its seascope insurance holdings unit
stoltenberg said that everything had been carefully considered
five of the plants are located in the united states
uk reserves show record underlying rise in may
resorts intl rta receives takeover offer
the omb is said to be against any expansion of the program while usda remains firmly committed to it
china is the main supplier with a 79 pct share while the us provides the rest it said
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
he gave no details of the deal with creditanstalt
wednesdays actions left gems facilities 40 pct operational and there were only limited strikes yesterday
the deficit in 1986 was 952 mln ringgit
canadas key bank rate rose to 720 pct from 715 pct the week before bank of canada said
production should begin late in the year from the harvest platform in the santa maria basin offshore california the company said
dollar ends lower in lacklustre frankfurt
weve not had trade like this since last years boom around the may elections said wim moret of banque paribas
csr ltd csras said it had declared unconditional its takeover bid for pioneer sugar mills ltd following pioneers recommendation that shareholders accept
merrill lynch and co is issuing a 100 mln ecu eurobond due march 30 1990 paying 7 3 8 pct and priced at 101 pct lead manager banque paribas capital markets said
it said the completion of the deal is subject to approval by rexnard holders and to other closing conditions
the spokesman declined comment on the outcome of the board meeting saying the dispute was under arbitration
feds johnson says dollar stabilized after fed took appropriate action
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 
its going to be another tedious day and i cant see how anybody is going to make any money he said
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
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 bank of england said it has operated in the money market this afternoon buying back bills totalling 347 mln stg
sahlen said the deals terms were not disclosed but added that the acquired companies had combined annual revenues of over 18 mln dlrs
shares of chemlawn shot up 11 5 8 to 29 3 8 in over the counter trading with 38 mln of the companys 101 mln shares changing hands by late afternoon
the singapore international monetary exchange ltd simex said it would launch at least two options on futures contracts this year
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
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
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
in 1985 cgct posted losses of 200 mln francs on sales of three billion after 1984 losses of 997 mln francs
jamesway jmy march sales up 15 pct
gendis inc 4th qtr jan 31 net
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
united securitys principal subsidiary is united security life insurance co of illinois
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
we just want to stick to the agreement which was reached and that was very clear that the new round would be one undertaking
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
fluorocarbon fcbno completes acquisition
period ended december 31
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
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 west german cabinet approved a plan to mint a special 10 mark coin commemorating the 30th anniversary of the european community this year
a wall street arbitrageur who owns harcourt shares said the rumors did not make much sense because harcourt has announced a recapitalization plan to ward off a takeover attempt by british publisher robert maxwell its completely inconsistent with the recapitalization the only way is if they drop the recapitalization he said
the problem is how to do it the shanghai official said a rise in grain prices might also affect the prices of hundreds of food products made with grain and consumed by city residents
pope evans has about 76 mln shares outstanding
corby distilleries cdlto to buy heublein unit
each 1727 gram coin will contain 55 grams of fine metal
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
three consecutive days of negotiations ended this afternoon after failing to break the deadlock
in a statement calmos said it and its european partner european silicon structures expects to use the research to improve the design of silicon chips
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
us officials say about half of the orange juice consumed in the united states comes from brazil
zaire accepts tin export quota atpc says
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
but he said the government does not expect to be able to reduce its arrears this year
it also said it would issue 1080000 common shares in connection with its acquisition of popular bancshares corp
approval would also be necessary from the renault chrysler and amc boards from amc shareholders and the relevant government authorities
analyst says ussr winter grains hurt by weather
ph glatfelter co said it has reached an agreement to acquire all the capital stock of ecusta corp for 149177857 dlrs in cash
us export inspections in thous bushels soybeans 16333 wheat 30917 corn 36781
vickers da costa ltd and smith barney harris upham international inc will each have 03 pct
japan to ask chip makers to slash output further
they were listed for subscription on major stock exchanges from march 2 to march 7
he saw good prospects for consumer industries
in 1985 the company reported a loss of 672 mln dlrs or 1409 dlrs a share on sales of 2218 mln dlrs
investors will pay for the bond on april 29 and the bond matures on the same day in 1997
as a result a purchaser would not be bound to buy the shares that were tendered if the minimum level were not reached
it crossed the four mln shares at 45 off 1 8
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
australia must rely on quality to retain its wheat market share because its competitors are supplying cheaper but lower quality grades the awb submission said
kodak said the drugs covered by the marketing rights are in initial stages of the us food and drug administration approval process
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
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
a group of boston investors and investment partnerships told the securities and exchange commission it sold its entire stake in silicon systems inc of 410000 shares or 60 pct of the total outstanding
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
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
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
the finance ministry is encouraging more use of agencies by gradually abolishing limits on corporate debt creation
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
simultaneous with the offering wainoco said it intends to redeem its shareholder value rights attached to each common share at 10 cts per right
coffee production was expected to drop slightly to about one mln bags of 60 kg each in the 1986 87 crop year ending june from 11 mln bags last year he said
due to cold damp and windy conditions livestock advisories were posted this morning across central and southeast portions of south dakota
ecolab said chemlawn has granted it a conditional option to buy all authorized but unissued and unreseved chemlawn shares at 3650 dlrs each
prior year net includes losses from discontinued operations of 200000 dlrs in quarter and 573000 dlrs in nine mths
statoil seeks share in thai gas field
tesco forecasts profits rise this year
the us agriculture department projected an average yield of 147 gallons of frozen concentrated orange juice per box 420 degree brix equivalent from floridas 1986 87 crop
georgia pacific to have 60 mln dlr pretax gain from sale of georgia gulf stake
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
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
in february the figures were 24 pct 22 pct and 54 pct respectively
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
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
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
fiat says it not planning to issue eurobonds
christian of the us league of savings institutions said underlying housing demand remains strong
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
mobil oil corp said it will restructure its dallas based mobil exploration and producing services inc operations april one to provide stronger technological support to its us and overseas operations
thai tin exports fall in february
proceeds will be used for working capital evans and sutherland said
quaker also said costs of new store openings and new product introductions will depress earnings in the first half
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
hellman and president harvey newwman has been terminated by mutual consent and temco has no present intention of being acquired by any other party
the minister said ending restrictions on imports of cars and dropping 50 pct sales tax on small cars would not harm the economy
the company said a hearing on the adequacy of the associated disclosure plan is scheduled for april nine and completion of the plan is subject to approval by creditors equity security holders and the bankruptcy court
the sec has a standing policy of never confirming or denying investigations or upcoming legal action
under a previously announced merger agreement amsouth offered 66 dlrs a share in amsouth stock for first tuskaloosa
ford f debt ratings may be raised by moodys
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
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
corrects march 30 item to show holdings decreased
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
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
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
royale belge rbvbbr year 1986
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 
the federal reserve is expected to intervene in the government securities market to supply temporary reserves indirectly via customer repurchase agreements economists said
in the fiscal year ended march 31 the surplus totalled 9376 billion dlrs or about 45 pct of gnp
lower edible oil prices added to the decline
no fixed time was set for the release
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
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
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 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
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
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
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
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
monetary sources said that privately west germany welcomed the rise in the yen against the dollar while its own currency remained relatively stable against the us unit
xerox said completion of the sale awaits approval of fintech shareholders and a review by the johannesburg stock exchange
vws former foreign currency chief burkhard junger was arrested on monday on suspicion of embezzlement and of having evaded justice
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
rowntree expects north american operations will this year ahead of company expectations be of the same order as those from the uk and the rest of europe combined the statement said
computer associates founder and chairman charles b
bp announced it was arranging the financing earlier today as part of its planned tender offer for the 45 pct of standard oil co that it does not own already
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
the consumer rice price is usually set in december
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
they died while guarding a chokepoint of freedom deterring aggression and reaffirming americas willingness to protect its vital interests reagan said
pacific lighting corp plt qtly dividend
domestic demand pressure coupled with the deterioration in italian competitiveness is likely to stimulate imports and adversely affect exports in 1987 and 1988
kenai corp said its shareholders approved of a reorganization to avoid a chapter 11 filing under the us bankruptcy code
loosening the tie between the guilder and the mark would reduce international confidence in the guilder and make it more dificult to attract foreign capital they said noting dutch interest rates rose sharply when the guilder was not revalued completely in line with the mark in a 1983 ems realignment
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
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
the turkish ore bulk oil vessel obo engin 78078 tonnes dwt had an explosion in its boiler yesterday lloyds shipping intelligence service reported
bank of zambia pays out foreign currency arrears
dow jones drops owens illinois inco from industrial average adds coca cola boeing
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
it had no meeting scheduled with the other three striking locals which rejected a tentative three year contract saturday cominco spokesman richard fish said
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
solitron devices inc sod 4th qtr net
southland slc targeted in sec investigation
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
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
dixons group plc which is in a battle with cyacq corp for control of cyclops corp said a cyclops shareholder had agreed to withdraw a motion in us district court to prevent dixons from completing its tender offer for cyclops which expires 2400 est today
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
company went public in september 1986
the whole tender policy is to have a call money of between three and four pct
it also contrasts with the 1 16 pct fee bp paid on a recent 15 billion dlr refinancing of some existing debt
freddie mac said buy selling 400 mln dlrs worth of mortages it makes more mortgage money available
gulf states has appealed a decision by louisiana state regulators rejecting its application for 100 mln dlrs in emergency rate relief
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
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
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
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 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
1986 net both periods includes 500000 dlr pretax inventory writedown
us oil tax break proposal to be examined
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
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
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
in short the appeal of fixed rate mortgages is that they offer an opportunity to gamble on the direction of interest rates
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
wed put half in bonds and half in equities now said judith corchard wright senior vice president
the barley has a 14 pct humidity
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
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
jostens jos to sell unit to careercom crcm 
the figures reflected a radical split in the health of banks in the two halves of the country the fdic said
yeutter sees us japan verging on trade conflict
i made it clear that the proposal was not one that i expected to leave out there if we could not resolve it at this meeting baker said
the index also gained 04 pct in the preceeding month
bil opposes the rainbow merger and analysts say bil needs a 25 pct stake in progressive to prevent it occurring
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
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
a leading soviet economist said the practice of padding figures was significantly inflating the countrys industrial production data
qtly div 12 1 2 cts vs 12 1 2 cts prior pay april 30 record april 17
italys consumer price index rose 04 pct in march compared with february after an identical increase in february over january the national statistics institute istat said
metromail corp mtml 3rd qtr march 1 net
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
twa confirms ownership of 15 pct of usair group
american brands amb sees higher 1st qtr net
st
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 partnership made its initial public offering in december 1986
resdel industries said it and san bar corp has agreed to merge san bar into resdel
the company said it continues to experience negative cash flow
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
it also said it restructured its board to include three members designated by the investors including pierre schoenheimer roger kirk and leonard lichter
tie communications tie renews agreements
mead corp 1st qtr oper shr 109 dlrs vs 67 cts
under the terms of the offer the company will select a single cash purchase price for the stock based on the number of shares tendered not to exceed 40 dlrs per share or be lower than 35 dlrs per share tektronix said
the trade subcommittee voted to require president reagan to take into account the potential harm to us agricultural exports of any trade retaliation he might impose for foreign unfair trade practices against other domestic industries
payment on the principal of government debts is officially projected at 273 billion dlrs in 1987 88 against 211 billion in 1986 87
for 1986 revlon said the loss applicable to common stock after preferred dividends is 95 mln dlrs
one hundred and thirty five bids were successful
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 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
the ministry had previously put the january and december indices at 1016 and 1047 respectively
the strikers who are seeking a 275 pct pay increase have rejected offers of a 100 pct raise from the state oil company petrobras and an 80 pct increase from the national union of maritime navigation companies syndarma leao franco said eight hours of talks in rio de janeiro with labor minister almir pazzianotto ended today without resolving the dispute
shr 36 cts vs 43 cts net 13 mln vs 17 mln revs 90 mln vs 79 mln
bundesbank sets new repurchase tender
the plant situated in north sumatra produces mostly for japan
but trade sources were hopeful that the shultz comments may indicate some movement towards eep wheat to moscow
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
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
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 
rio de janeiro dockers strike over wages
adsteam to acquire 49 pct of uk property company
london metal freights
coastal could not be reached for comment
sorghum sales of 143300 tonnes were 25 pct less than the prior week with japan and venezuela the main buyers
if purchases reach this level within six months buying is suspended pending an icco council review of price ranges
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
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
results of operations between both years is not comparable since the partnerships principle objective is to sell or dispose of its assets and distribute proceeds to unit holders according to the partnership
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
artillery shells said to fall on kuwait border
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
two of the three other major trading banks now have prime rates of 18 pct and one of 1825
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
principal payments will be deferred with semi annual payments of 175 mln dlrs to start on dec 31 1989 and all remaining principal due jan 1 1991
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
leutwiler wants firmer mark against sfr
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
qtly div 26 1 4 cts vs 25 cts prior pay aug 14 record june 30
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
the forum members include westinghouse and general electric but niedermeyers company is the only wood products firm on the membership roster
hytek microsystems inc hteko 1st qtr loss
cooper said the state department did not object to the sales but secretary of state george shultz indicated he may weigh in against the deal
as was widely expected lawson split his fiscal adjustment between trimming the 1987 88 psbr target to 40 billion stg from 71 billion and cutting basic rate income tax from 29 to 27 pct
liberty financial group inc the parent of liberty savings bank said it has signed a definitive agreement to be acquired by equimark corp eqk the parent of equibank for 48 dlrs a share of liberty
canada january retail sales fall 01 pct after decembers 09 pct gain official
the stake had been acquired from telecom plus international inc
galaxy oil gox being delisted by amex
fees are 1 1 2 pct for selling and one pct for management and underwriting combined with a 3 16 pct praecipuum
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
arbed sa arbbbr year 1986
partly offsetting these outflows exchequer transactions will add around 101 billion stg and bankers balances above target some 185 mln stg
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
uk september sterling bank lending up 44 billion stg official
the bank of japan will sell today 400 billion yen of government financing bills in a 24 day repurchase agreement due april 20 to soak up a projected money market surplus money traders said
us cabinet council set to mull farm issues
a dividend will then be calculated and all claims will be treated equally pw 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
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
discount window borrowings in the past week were about as low as the fed can get them although fed funds held above six pct said williams of bankers trust
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
in northern texas officials reported several tornadoes on friday
medtec is a provider of patient accounting and scheduling systems for large scale group medical practices
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
caesars world said it expects to raise the approximately one billion dlrs needed to pay the 25 dlr per share dividend and the expenses of recapitalization through around 200 mln dlrs in bank borrowings and a public sale of approximately 800 mln dlrs of debt
great american first savings bank said the bank recorded gains exceeding 80 mln dlrs on sales of loans and mortgage securities valued at 11 billion dlrs
the incentives were to have expired march 31
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
several other mediterranean refineries are currently shutdown for maintenance most of which were scheduled some months ago
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
operating income at industrial gases rose to 64 mln dlrs from 55 mln in the quarter and to 276 mln dlrs from 222 mln in the year
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
winn dixie stores inc win sets monthly payout
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
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
prior year results for discontinuance of apparel segment and change in accounting for textile inventories
robert bruce industries brucao 1st qtr loss
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 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
fed adds reserves via customer repurchases
texas american bancshares inc said three of its texas american banks will be merged into texas american bank galleria
these rates compared with averages of 547 pct for the three and 551 pct for the six month bills sold last week
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
total oilseeds crushed rose to 127 mln tonnes from 121 mln in 1985
however a cuban sugar official told that the country will be lucky if crude output reaches last years 72 mln tonnes
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
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
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
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
it is nearly impossible for the fed to hit any borrowings target since the demand for excess reserves is erratic said wells fargos nathan
bids awarded for elk hills crude oil
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
usair put its total cost of completing the tender offer at 17 billion dlrs
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
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
miyazawa says g 7 still strongly supports louvre accord
earlier the company reported net income of 207 mln dlrs
the june 25 buyout proposal which remains open until july 17 also provides that key members of digiorgio management and some of its directors would be invited to remain with the firm and participate in the group acquiring the company
todd carries b 2 senior subordinated notes due 1996 and b 3 308 dlr convertible exchangeable preferred stock
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
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
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
the minister also criticised state subsidies which he said mainly favoured large companies and created a tax burden for smaller and medium sized firms
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 
resorts also has about 5680000 shares of outstanding class a stock
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
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
bundesbank allocates 65 billion marks in tender
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
the index for output prices non seasonally adjusted was put at a provisional 1497 in march after 1493 in february
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
american express axp signs debt equity deal
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
the deadline for seeking icc reconsideration of the merger plan is midnight tonight
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
study says us canada pact would spur economies
allegheny and western energy corp said it was forming a subsidiary to market gas to smaller users in west virginia
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
bradley real estate trust said it signed a 99 year lease for property in downtown minneapolis to bced minnesota inc
standard microsystems corp smsco 4th qtr net
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
the venezuelan minister said opecs production reached a peak this year when it went over 19 mln bpd in august
it was a departure from the previous practice of announcing trade policies for a single fiscal year and haq said it would enable the businessmen to plan their market strategies over a longer period
the lead manager is first boston corp and the co leaders are goldman sachs and co and merrill lynch capital markets she said
mexico suspends overseas coffee sales
first savings bank of florida said it expects a special shareholder meeting to be held around may 21 to consider the proposed merger into gibraltar financial corp gfc it said the annual meeting will be held april 30 to elect two directors and ratify the appointment of auditors
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
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
mcdonalds mcd to buy 10 7 8 pct debentures
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
cuhney
shanghai handled 100 mln tonnes of cargo in 1986
it also cited a highly leveraged balance sheet and reduced access to capital
bentsen said he supported an oil import fee but that it would not happen without president reagans support
it noted that in january the year on year rise was 250000 or 10 pct and the number in work stood at 2578 mln
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
white house panel said urging japan retaliation
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
the company named morgan stanley and co inc as lead underwriter of the offering
dutch trade sources gave the same figure for france but estimated up to 110000 tonnes offered by german traders and producers
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
besides industrial troubles there has also been considerable unrest this week in the agricultural sector
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
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
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
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
last years cut in fertilizer use will hit this years yields and bigger effects are expected within the next three years oil world said without elaborating
earlier this month representatives of us cane sugar refiners met with us agriculture department officials to request a quota increase of at least 200000 tons
it has given no indication of when it may resume interest payments prompting fears that some large us banks may be forced into substantial debt writedowns and calling into question the viability of the us strategy
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
operating profit 3376 mln vs 265 mln depreciation 1034 mln up 122 pct capital spending 846 mln down 157 pct
italian treasury offer has lower rates
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
it was not a decision making meeting lyng said
2 or better yellow corn with 145 pct moisture maximum is for delivery from november 8 25
pillsbury psy hurt by restaurant operations
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 present agreement had a figure of 80 pct
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
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
while awaiting fda approval the company said it is proceeding with plans for commercialization through its mcneil specialty products co subsidiary
btr plc btrxl 1986 year
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
he said he feared net debt would also rise slightly this year but he was in favour of borrowing for the purpose of modernisation
current year net includes provisions for loss on investment in preferred stock of 4000 dlrs in quarter and 15000 dlrs in nine mths
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
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
i feel that unless we see an exchange rate adjustment we probably wont be able to see much of a change in the large surplus that taiwan in particular has with us he said
theres only one burlington he said
the economy is picking up after contracting by a seasonally adjusted 1 2 to one pct in the first quarter from the fourth he added
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
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
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
the final tranche totals 6549 mln dlrs of bonds due 2011
some experimental harvesting was carried out in santa fe on areas making up only about one pct of the total crop but details on this were not available
he told last month elders ixl ltd elxas the melbourne based brewing company had also bid for the b shares
revenue from dutch operations rose five pct in 1986 mainly due to its life insurance business
however the company indicated in a statement that it was closely evaluating the telecommunications and federal systems units
dunkirk xingang 12000 mt bagged flour 1500 1700 13 20 4
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
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
shr 95 cts vs 71 cts net 424 mln vs 345 mln assets 1861 billion vs 1566 billion
fhlmc had 14998210 preferred shares outstanding in 1986 vs 14998379 in 1985 owned by about 3000 member institutions of the 12 federal home loan banks
beet sugar production for 1986 87 is now estimated at 837000 tonnes five pct less than earlier forecast and down five pct from the previous season while cane output is projected at 4423 mln tonnes down four pct from previously forecast and five pct below the previous season it said
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
goodrich said moore is still actively looking for acquisitions related to its core areas of business forms manufacturing or handling
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
it simply does not want to take the risk said one local banker
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
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
one could make a case that the fed is firming but it probably isnt said william sullivan of dean witter reynolds
more
the company said it has no agreements for and is not in talks regarding any acquisitions
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
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
they said production was conditional on approval of a water license and arrangement of appropriate financing
sen
the dollar lost more than two pfennigs in the us to about 17740 50 marks and about one yen to 14125 35 yen
he said the current program has artificially stimulated domestic sugar and corn sweetener production which has allowed corn sweeteners to make market inroads
westinghouse electric corp 1st qtr shr 105 dlrs vs 88 cts
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
he said in a statement welcoming the agreement on buffer stock rules reached last week in london that it resulted in large part from initiatives taken by the ec commission after consumers and producers had reached deadlock in initial negotiations
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
baker said this lending should help debtors make a transition to more open economies and freer markets
but minguzzi said the offer was a commercial affair and that producers had no intention of withdrawing the sugar offer already lodged with intervention boards of different european countries
china calls for better trade deal with us 
american motors said it received a letter from chrysler corp advising us of their proposal to enter into a merger transaction with american motors corp in a brief statement the company said we are studying the proposal
he said japan raised its pledge to 88 billion yen from 80 billion last year
nazer said the output level did not mean the kingdom had returned to a role of swing producer within opec
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
bond service downgrades royal bank of montreal
chinese crops hit by frost snow and rain in march
bermuda star line bsl to make acquisition
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
that will be followed on wednesday and thursday by respective quarterly sales of 775 billion dlrs of four year notes and 725 billion dlrs of seven year notes to refund 1572 billion dlrs of two year and four year notes maturing march 31
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
the seamen began a national stoppage on february 27
among the main factors affecting liquidity bills maturing in official hands and the take up of treasury bills will drain some 505 mln stg while bills for repurchase by the market will remove around 194 mln
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
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
alexander jr
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
canada consumer price index rose 04 pct in february statistics canada said
officials said the complementary character of the two firms operations was a further reason
pillsbury said the sale will occur as soon as practicable considering the business and legal contigencies
this will allow 18 more japanese branches of foreign owned brokerages to bid it said
cetus has a venture with kodak to develp diagnostic products and with grace to develop agricultural products
the conversion price was set at 32 5 8 dlrs representing a premium of 2038 pct over yesterdays atari share close of 27 dlrs
borg warner also has an automotive parts business and a protective systems business which includes wells fargo security guards
bank of japan determined to keep easy money policy
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
general refractories mineral operations are not affected
relying on depreciation of the dollar alone would risk renewed inflation he said
the one thing that caught my eye were the relatively sizeable matched sales on wednesday said dana johnson of first national bank of chicago
southwestern public service co sps 2nd qtr net
iran has anti ship missiles near gulf paper
spendthrift farms sfi gets bid for control
but hopefully you win them all in the end holden brown said
conrac cax in merger talks with several
when they realise it is not a free for all in the market they will realise they should buy now instead of paying more later on he said
shr 66 cts vs 57 cts net 640 mln vs 529 mln nine mths shr 149 dlrs vs 164 dlrs net 1422 mln vs 1533 mln assets 1804 billion vs 1663 billion deposits 1397 billion vs 1278 billion loans 1254 billion vs 1081 billion
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
dutch bonds seen rallying further this week
bi inc biac sets reverse split
bil executives were unavailable for comment
pryor serves on both the senate finance and agriculture committees
water cwtr 
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
public authorities net holdings at the bundesbank fell to 22 billion marks in the last march week from 44 billion the week before
some 300 mln will be offered for immediate sale and 100 mln will be retained for market regulation
it said it will stop making insulators for missiles
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
grease monkey gmhc gets rejects merger offer
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
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
terms were not disclosed
the us agriculture department forecast brazils 1986 87 soybean crop at 1700 mln tonnes vs 1700 estimated last month
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
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
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
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
since 1986 us oil production has fallen while consumption rose and that has raised dependence on imported oil particularly from opec dibona said
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
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
barco brc board approves leveraged buyout
hyponex corp is raising 150 mln dlrs through an offering of senior subordinated debentures due 1999 yielding 11828 pct said sole underwriter drexel burnham lambert inc
honeywell said hiss federal systems division is now a wholly owned unit of honeywell inc and has been named honeywell federal systems inc
dutch oilseeds fats imports rose in 1986
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
flight international group inc flti 3rd qtr
he had no price details
ltv qltv unit wins air force contract
service control said the offer is conditioned on receipt of at least 534806 shares
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
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
listing will be in london
the bank of sissonville has total assets of 255 mln dlrs as of dec 31 1986 the company said
afg industries afg debt affirmed by s p
an earlier pact expires next week draining 85 billion marks from the system
dividends on the preferred could be paid at the option of the surviving corporation in cash or additional shares of preferred for the first five years it added pay n pak said bilzerians proposal is subject to a physical inventory of merchandise at june 30
malaysia raises duty on processed palm oil
cook said it believes the reasons for its losses since october have been identified and are mostly non recurring
helaba unit issues luxembourg franc placement
but some who see a smaller adding requirement are forecasting a less aggressive combination of three and six day repos
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
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
however this projection was clouded by risks including the further development of the mark against the dollar
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
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
zoran was founded in 1981 and now has about 100 employees he said
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
britain warns japan over trade row
us federal home loan banks set offering totaling 2135 billion dlrs
fmc corp fmc in peroxide venture
but he added that would be a statistical aberration and not a significant shift in economic activity
crossland savings crld acquires western savings
farmers concerned about british sugar ownership
a purchase from a foreign seller is a transaction in which a us exporter contracts to buy us produced commodities from a foreign firm the department said
fees comprise one pct selling concession and 1 2 pct for management and underwriting
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
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
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
consolidated freightways inc cnf 3rd qtr net
neither of those companies would comment nor would the wendys official
ec opens anti dumping enquiry into soviet mercury
shr 33 cts vs 37 cts net 2051000 vs 18 mln assets 17 billion vs 15 billion deposits 14 billion vs 12 billion loans 11 billion vs 900 mln note year ago results restated to reflect merger with colson inc
net proceeds which have been swapped to us dlrs for undislcosed terms will used to fund loan commitments and other purposes
the rise was also slightly below the 33 pct growth rate finance minister michael wilson predicted for 1986 in februarys budget
the new legislation also reduces existing tax credits by 175 pct in 1987 and 35 pct in 1988 and later years it said
they said a special committee of agricultural experts from ec member states had voiced strong objections over the measure during a meeting charged with preparing the ground for the annual ec farm price fixing which begins next monday
it is situated 14 kilometres from the first well to be discovered in the region last year which is currently yielding 500000 cubic meters of gas and 900 barrels of oil daily
economists generally expect a modest pickup in monetary growth in march after februarys anemic growth rates
trade sources have put the crop at over 26 mln bags compared with a previous crop of 112 mln
it said the discovery well there encountered 46 feet of net natural gas pay
powerine refinery to resume operations
south koreas leading indicators fall in december
they are very critical of the imfs austerity measures and there is sympathy for their view among the development community
bonus issue one for four vs nil
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
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 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
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 supreme soviet convened on monday to endorse the 1988 budget and plan
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
donaldson dci to buy mine safety mnes unit
shr profit two cts vs loss two cts net profit 251000 vs loss 222000 note pretax net profit 295000 dlrs vs loss 256000 dlrs
recent developments have led to moves for a summit of latin american presidents and debate on new solutions
interco inc iss 4th qtr feb 28 net
the national average yield is expected to fall to 4317 tonnes hectare from 4322 tonnes in 1985 86 it said
japanese subsidies have dropped sharply since then partly because of tight budgetary policy and foreign currency factors have also changed he said
subscriptions close april 15 and payment date is april 30
he gave no figures for the amount of palm oil to be imported but said it would come from malaysia
richard loewy analyst with prudential bache securities said there was not enough information to completely assess the conservation figures
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
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
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
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
it said underwriters may include merrill lynch pierce fenner and smith inc salomon brothers inc dean witter reynolds inc or shearson lehman brothers inc
boothe financial corp a diversified holding company said it has acquired the robert half and accountemps franchises in new england including four offices in boston and eastern massachusetts and one office in providence ri boothe said it previously announced the purchase of robert half international inc the franchisor of the robert half and accountemps offices in the us the company said the aggregate purchase price it paid for robert half international and the franchises was about 59 mln dlrs
webb corp said its del e
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
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
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
he said spanish businessmen traditionally turned to the domestic market to satisfy rises in consumer demand while turning their backs on foreign markets
bat said it increased new business by 38 pct in the last nine months after a relatively slow first quarter
the acquisitions are subject to approval by holder shareholders and the federal communications commission
nigeria guinea set up iron ore firm with liberia
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
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
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
later today de zeeuw will meet the senate agriculture members and undersecretary of state affairs allen wallis
moodys cuts texas air tex affirms eastern
caesars caw has no comment on mts talks
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 a 1985 agreement with the now defunct us synthetic fuels corp unocal said it would study using the technology at the oil shale plant
interco inc said its shareholders and those of lane co approved a merger of the two companies at special meetings
drawdown seen in us distillate stocks
for the nine weeks total sales rose 43 pct to 101 billion from 964 mln dlrs
unusually high temperatures have also been reported across china media reports said
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
the dollar opened at 14533 yen against 14560 70 in new york and 14525 at the close here yesterday
willcox and gibbs wg to make acquisition
foreign oil firms pump an average of 225083 barrels per day in colombia
dixons has offered to buy about 80 pct of cyclops shares
qtrly div 40 cts vs 40 cts prior pay aug 14 1987 record april one 1987
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
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
bp bp offer raises expectations for oil values
landmark savings lsa completes office sale
china is currently forecast to export 55 mln tonnes of corn during 1986 87 oct sept it said
he weinberger opposes it
rio de janeiro ibc estimates 1987 88 coffee crop at 352 mln bags
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
these bonds will be used for deliveries as they are expected to be the cheapest deliverable issues due to low interest rates they said
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
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
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
paine webber residential realty inc pwm div
loh predicted fixed deposit and prime interest rates in singapore will stay low this year
michigan general mgl extends exchange offer
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
german 22 pct growth average seen to 1991
merrill which will be the dealer for the medium term notes and commercial paper said this was the first facility of its kind
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
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
citibank na was the issuing and paying agent
pan am corp 4th qtr loss 1975 mln dlrs vs profit 2414 mln dlrs
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
the spokesman said the loan will feature a call option after four years at a price also to be determined
the big w discount store division and new south wales supermarkets produced very disappointing results it added
the swiss federal government will launch a new series of three month money market certificates totalling around 150 mln swiss francs the national bank said
however there was demand for industrial casting due to increased hydro electric power generation the company said
unocal ucl raises crude oil posted prices
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
there will be a 1 3 8 point fee for selling and 5 8 for management and underwriting combined
the payment date is april 2
japanese prime minister yasuhiro nakasone will draft a reply to the criticism following further discussion a posts and ministry official said
it will buy back the debt at 110593 dlrs per 1000 dlr face amount including accrued interest
a bank of france spokesman declined all comment but sources close to the central bank said it had also intervened yesterday
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
holiday inns also sold yesterday via drexel 500 mln dlrs of subordinated debentures due 1999 with an 11 pct coupon and par pricing
but one informed congressional source said singling out corn for an arp increase would would be seen as unfair to one commodity
fed adds reserves via customer repurchases
miller tabak has 918 pct of penn traffic pnf 
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
its gas will be fed into the statpipe line which gathers gas from norways statfjord gullfaks and oseberg fields
ferro also announced it has agreed to purchase compositair a developer of composit materials applications for an undisclosed sum
the index for consumer foods fell 05 pct after a 18 pct drop in january as vegetables pork and coffee cost less
japan cabinet approves bill on gold coin issues
if you give a tax writeoff for reserving against loans then we will see more reserving and that would make me happy volcker told committee chairman sen william proxmire d wisc
we are thinking of diversification outside of the retail line the spokeswoman said
as previously announced the transaction is valued at about 88 mln dlrs including 28 mln dlrs in debt
so the sale does make a lot of sense mote said
amvestors financial corp said it declared a 25 pct stock dividend payable june 19 to holders of record june one subject to an increase in authorized shares
he listened very carefully and i have little doubt the message got home he added
singapore exchange plans options contracts
it said it will transfer the capital stock of rigolleau sa to the group controlled by camillo gancia an argentine industrialist
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
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
bangemann calls for currency calm
ny times nyt to buy gwinnett daily news
us exporters report 300000 tonnes soybean meal to iraq for split delivery
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 successful negotiations form an important piece in the mosaic christian roeher secretary general of the european chamber of commerce said
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
the possible acquisition is subject to any applicable real estate gains and transfer taxes the joint statement said
the company also said it intends to reduce its second quarter common stock dividend to 35 cts a share from 69 cts
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
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
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
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
he did not specify what types of loans venezuela would seek from the fund or the amounts involved
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
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
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
exports rose to a record 693 billion from 620 billion
fees comprise 1 1 4 pct selling concession and 5 8 pct for management and underwriting combined
sales tax hurt canadian profits on confectionery operations and the company faced strong competition in the uk snack and mid east export markets
if the flow of funds dries up a country like brazil cant meet all its obligations he said
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
igene biotechnology inc said its research teams at auburn and hebrew universities have found its patented pesticide is highly effective in combating a disease reponsible for approximately three billion dlrs in annual crop losses
but the loss of many jobs to foreign competition has raised similar concerns among more moderate senators
these measures should also foster greater stability of exchange rates around current levels he said
as a result exposure relative to capital has fallen and few now fear for the collapse of a major bank
quite simply rainbow should now bid for the balance of progressive enterprises at 480 nz dlrs per share collins said
nine grain ships were loading and 16 were waiting to load at new orleans elevators trade sources said
the acquisition and financial growth policies of many company executives heavily influenced the ratings outlook
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
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
the cost of the deal signed late yesterday is around 90 mln stg and thomson will finance 50 mln of this from its equity
bevis industries inc said it retained tucker anthony and rl day inc to seek purchasers of the company or its units
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
salomon raises size of cmo to 350 mln dlrs
wall street stocks us oil companies
for 46 of those products the us had had sought free access to the south korean market
new crop sales were also light and all to open ports with june july going at 1850 and 1880 dlrs and at 35 and 45 dlrs under new york july aug sept at 1870 1875 and 1880 dlrs per tonne fob
ecuador suspends payments to private banks
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
saudi arabias king fahd wants stable oil prices
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
but with governments unable or unwilling to play a larger role bankers see no alternative to the advisory committee
merry land and investment mery to offer stock
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
terms of the sale were not disclosed
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
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 bank bought 11 mln stg of band one bills at 10 3 8 pct and 95 mln stg of band two paper at 10 5 16 pct
he said several agencies currently helped fema to manage the stockpile and decide how much to sell to help the deficit
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
dutch prices and trade volume reached their highest level this year
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
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
volcker urges greater exchange rate stability
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
ina is jointly prospecting with the us firm conoco for oil and gas there
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
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
pansophic systems pns splits stock 2 for 1
the company said it agreed that none of its costs for palo verde unit three will be included in its new mexico rates
the stock markets reaction today and its sharp drop on march 30 shows how the loss of confidence could come about
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
three month bills closed two basis points lower at 548 pct bid
one trade source said india has targetted countries that depend on an indian domestic market recently opened to foreign imports
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
thirdly he said we do not have as long a track record of low inflation as did the us japan and west germany
the final outcome for the fiscal year will be determined by the timing and proceeds from the sale it added
champion products ch sets pay date for split
us lines filed for protection from its creditors under chapter eleven of the us federal law last november
bank of france says it leaves intervention rate unchanged at 7 1 2 pct
finance for danish industry has danish crown bond
the newspaper quoted deng as saying that grain output is one of several key issues that will influence the whole development of the economy
the well in 260 feet of water was drilled to a total depth of 14629 feet it 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
polaroid corp prd 3rd qtr sept 27
year on year private sector credit grew 3068 pct in december against a revised 2230 pct in november and 232 pct in december 1985
within the broad money total non bank financial intermediaries rose by 02 pct from a revised decline of 02 in december and a previous januarys 08 pct increase
ec sets export licences on 20000 tonnes maize
according to market sources the ranges agreed were 160 to 190 marks to the dollar and 140 to 155 yen to the dollar
it said it has taken legal action to try to force the company to set an annual meeting and require all directors to stand for election
it said the loan will cover the entire foreign exchange component of the projects total cost of 65 mln
transcanadas proposal amounts to a quasi debt restructuring oil analyst doug gowland of brown baldwin nisker ltd said from toronto
proceeds will be used for possible future acquisitions the repayment of outstanding debt and general corporate purposes
the deficit for the year ended december narrowed to 275 billion dlrs from 291 billion dlrs revised down from 292 billion for the year ended september
but it was not enough to cover the losses from a drop in the average price from 2588 dlrs per barrel in 1985 to 1390 dlrs last year
it rose 36 pct in jan sept 1987
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
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
the company said the transaction includes most of lazeres loan portfolio and other assets including lazeres miami office
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
vice chairman sir denis henry of grenada chaired the meeting in his place
coffee earnings were down to 110 mln dlrs against 295 mln in february 1986 because of lower prices he added
the banks did not borrow in the first week of the period
feds johnson says dollar is very close to appropriate exchange rate level
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
arts way manufacturing co artw 3rd qtr net
moodys said that while merrills absolute earnings would continue to increase the houses profitability will lag that of its peers
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
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
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
river oaks said the note will be convertible into two mln shares of its common stock at one dlr a share
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
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
the acquisition follows the exxon withdrawal from south africa announced last december
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
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
the purchase of the remaining united presidential stake follows washington nationals buying 85 pct of united presidential in a 19 dlrs a share tender offer which terminated december 12
skyline explorations ltd said expects construction can begin next month on a gold mine at johnny mountain camp located 600 miles north of vancouver
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
baker did was to mention the obvious in public so making him responsible for it was a little like killing the messenger he said
the price was not disclosed
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
even with a favorable vote of 65 to 15 the restrictions were weakened in the final version
the top accepted rate of discount at the weekly uk treasury bill tender rose to 95261 pct from 93456 pct last week
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
international multifoods corp imc 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
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
major increases for west germany belgium spain italy and australia were partially offset by declines to unknown destinations
eletrospace shares closed yesterday on the nyse at 30 1 8
such an increase would raise runs about 100000 bpd and add to us stocks
dynamics said cts chairman george f
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
schlumberger slb may have alternate buyer
memotec data inc said it completed the previously announced 4883 mln dlr acquisition of teleglobe canada from the federal government
theres no way prices can stay flat because there isnt enough supply he said
ohio mattress omt may have lower 1st qtr net
it said profitability and cash flow protection are not expected to rebound in the foreseeable future to levels that would support the former ratings
shearson lehman brothers inc the brokerage subsidiary of american express co axp said it has acquired 131300 shares of chicago milwaukee corp or 54 pct of its total outstanding common stock
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
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
cut were bankamericas senior debt to ba 1 from baa 3 subordinated debt to ba 3 from ba 1 preferred stock to b 1 from ba 3 and commercial paper to not prime from prime 3
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 
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
qtly div 10 cts vs 10 cts prior pay april 15 record march 30
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
macandrews said it will promptly file revised tender offer material with the securities and exchange commission
but he said the situation was greatly different now
the pacific lighting real estate group earned 242 mln dlrs and employed 800 people during 1986 the company said
while the consensus is for an increase a few would not rule out the possibility of an decline
while the accord effectively stifled dollar yen and dollar mark movements the markets turned their attention to sterling as foreign investors rushed to take advantage of relatively high uk interest rates
canadian bond rating service said chrysler credit canada short term notes are now rated a 2 high and guaranteed notes and debentures are rated b plus plus high
china has total corn commitments for 1986 87 of 1011200 tonnes and soybeans commitments of 157500 tonnes
the transport ministry estimates new orders at 33 mln cgrt in the year to march 1988 and 31 mln the following year
it said the options range from expanding shearsons capacity to meet international competition to broadening further its access to capital
montgomery street income mts 1st qtr net
southeast china crops saved by heavy rain
news corp nws unit corrects dividend rate
quest biotechnology qbio unit in merger pact
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
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
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
mthly div 61 cts vs 61 cts prior pay april 30 reord april 15 note franklin ohio insured tax free income fund
india buys up to 10 cargoes sugar traders
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
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
interest on all classes of bonds will be payable quarterly
a fed spokesman said that all of the borrowings were made yesterday by fewer than half the banks
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
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
agricultural output hit by adverse weather fell by 73 pct last year led by coffee production which was 46 pct down
gencorp has agreed to sell two of its independent stations wor in the new york area and khj in los angeles
the shares can be converted between 1990 and 2002 at the rate of four ordinary shares for every 15 convertibles held
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
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
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
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
that reference spoils what is otherwise a well thought out bill introduced by democratic senator lloyd bentsen he said
they believed these two firms were awarded bonds by the carmaker as well
r revised
ranco rni holders approve merger
jacobs suchard ag jaczz hopes for another excellent year in 1987 after a 27 pct increase in 1986 net profit
the industrial production index base 1980 stood at a provisional 1041 in february against 1009 in january and 1045 in december
hrw laydays include june 20 30 on 5000 7000 tonnes july 15 25 for 6500 8500 tonnes and september 15 25 for 7000 9000 tonnes
we wish to see it stability continuing he added
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
doe resolves issues with royal dutch rd unit
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
martin t
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
in todays statement metal traders also said it is reviewing possible acquisition of a mineral producer
it said the business had sales of over 50 mln dlrs in 1986
however advances credited to the alliance last week have cast doubt on both assumptions
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
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 bank of japan will keep a close watch on exchange rates in line with the paris accord he added
this venture will be followed within a few months by the establishment of a trading operation for japanese us dollar denominated equity warrant issues
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
we are waiting to see what consumers say a producer delegate said
mitsui trust international ltd is co lead
standard oil srd in texas natural gas find
utilicorp ucu completes acquisition
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
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
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
the sources said the market may also be wary of agressively selling dollars for yen before tuesdays february us trade data
cpc is building an lng receiving terminal in southern taiwan city of kaohsiung at a cost of 820 mln us dlrs
the borrower says to himself well i can travel economy or i can travel first class he said
the statistics office said it was not yet able to calculate the real change in exports and imports in february
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
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
in a letter to the west german community here ambassador joerg kastl said laboratory tests on food samples bought in moscow in february had shown elevated levels of caesium 134 and 137 in tea from azerbaijan and ukrainian hazelnuts
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
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
the non callable bond is available in denominations of 1000 australian dlrs and will be listed in london
canada leading indicator up 04 pct in january after 04 pct december rise official
furthermore no extraordinary meeting of the conference is at the moment contemplated since most agreements reached in december are being adhered to he said
ina signed a similar deal with west germanys hoechst ag hfagf two years ago
uk growth rate seen at three pct this year
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
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
brown and co would receive newly issued united security stock
convenient food mart cfmi agrees to buy chain
china crop weather summary usda noaa
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
operating profit fell to 122 mln marks in 1986 from 150 mln in 1985
west virginia free of two major cattle diseases
the firm employs 1100 workers toshin steel with 1700 workers has given no forecast for the year ending march 31
shad who had been vice chairman of the e
no australian treasury note tender next week
bank of thailand plans its first bond issue
standard pacific lp said it has acquired substantially all of the assets and liabilities of south bay savings and loan association of newport beach
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
ocean bio chem inc obci year net
cbt to submit yen bond futures contract to cftc
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 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
fnma fnm arranges mortgage securities swap
combined intl to ask doubling of authorized shares stock split
no figures were given for imports in the corresponding periods of 1986
the china times which has close ties with the government quoted central bank governor chang chi cheng as saying the government had agreed in principle to liberalise financial restrictions
webcor electronics inc said it remains in technical and payment default under its revolving credit agreement and in technical default under certain other obligations to its lender
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
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
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
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
eurotunnel to offer choice of investments
the proposed increase in procurement of foreign goods by the government will probably include the purchase of super computers ldp officials said
kellogg said engineering of the plant which will have a capacity of 400000 tonnes a year is already underway and construction will begin in 1988
analysts said utilization could have remained unchanged or rose or fell by less than one pct for the week ended march 27
he said there has been some uncertainty this year about the soybean loan rate which acts as an effective floor for prices by keeping supplies away from the free market
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
the course of fed policy is quite adequate as far as we are concerned baker said in an interview with the new york times
proposed offerings recently filed with the sec
chemlawn corp said it has started talks on the possible sale of the company with various parties that it did not identify
copper meeting agrees goals of study group
the global economy is expected to weaken this year adding new worries to an already serious poverty outlook economic analysts said
but banks had to draw heavily on the lombard emergency financing facility due to month end tightness borrowing 53 billion marks
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
baker said it has not obtained any satisfactory explanation from hughes of its objections to the provisions of the justice department consent decree
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
cuts in the eep program are unlikely he said
iomega iomg sets management labor layoffs
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
noel industries inc nol 1st qtr jan 31 loss
fiji sugar farmers will receive an interim payment on the 1986 crop four months ahead of schedule in a move aimed at getting harvesting of the drought hit 1987 crop under way governor general ratu sir penaia ganilau said
the anticipated total supplies will be about 500000 tonnes above this seasons available amount mielke said
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
cattle prices closed lower but continued to show strength related to tight supplies
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
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
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
india relaxes rules for export promotion
karl pale head of girozentrale und bank der oesterreichischen sparkassen ag girvvi has also called for lower deposit rates but said lending rates should remain unchanged at the moment
germany near its research and development facility
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
morrill managing partner of the boston office of hambrechts hambrecht and quist venture partners unit named chairman
britain backs us strike on iran oil platform
supermarkets general gets unsolicited bid for 4175 dlrs shr cash
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
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
the rail line to hangzhou will be double tracked by 1995
saudi oil minister sees no need to alter pact
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
thrift actions taken
phlcorp inc said for november 14 through december 31 its first reporting period after emerging from reorganization proceedings it earned 86000 dlrs on revenues of 47 mln dlrs excluding 2300000 dlrs in gains on the sale of real estate and 800000 dlrs in tax credits
interest in gold mine stocks may also wane if stock exchange rallies under way in many countries start to waver
meanwhile acquisition of marine savings and loan association of florida with four offices in naples fla is awaiting regulatory approval
us bank discount window borrowings less extended credits averaged 228 mln dlrs in the week to wednesday march 18 the federal reserve said
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
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
supermarkets general owns the path mark supermarket chain and rickels home centres
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
the ccts were priced at 9900 pct for an effective net annual yield on the first coupon payable april 1 1988 of 985 pct
we believe chryslers purchase is a logical and sound step for all concerned the union said
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
posted propane prices were unchanged at 110 dlrs per tonne the company said
but mccarthy who still expects first quarter real gnp to come in at an annual rate of 25 pct or slightly above is not convinced that growth will pick up in future
carolina power and light co cpl sets payout
no injuries were reported
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
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
in the first quarter of 1986 marine midland reported record earnings of 382 mln dlrs bolstered by certain non recurring securities gains
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
exporters said they were not prepared to offer material on egypts new landed contract terms which include a clause free from radioactive contamination offers submitted were on old contract terms all of which were rejected
emhart has divested itself of many of its units to focus on three primary markets industrial products consumer products and information and electronic systems
pretoria last week announced that it had reached a three year rescheduling agreement with the major international creditors that will effectively extend a moratorium on most repayments of the short term portion of the debt until mid 1990
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
he said us taxpayers are taxed at a rate of 19 pct of gnp which is traditionally where it has been but the federal government is spending at a rate of 24 pct of gnp
no financial details about the amoco offer were available and a dome spokesman would neither confirm nor deny that amoco had emerged the winner the newspaper said
space microwave smli sets securities offering
britton lee inc said it expects to report a loss on lower sales than it had anticipated for the first quarter
lucas said it intended to use the proceeds of the issue for general corporate purposes
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
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
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
nearly half the increase in the latest quarterly index was contributed by the housing group the department said
the loans have to be treated as non performing after 90 days without a payment
ec agrees trade deal with argentina
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
san juan basin sjt proven reserves fall
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
general development corp cdv 3rd qtr net
syndication of the loan is expected to start soon and it should be signed in shanghai next month
cold air a threat to some us hard wheat areas
occidental petroleum corp said its common stock offering has been further increased to a total of 37950000 shares
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
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
seaboard corp seb 31 week year net
products eligible for the new blanket exchange permit scheme include tea bags cigarettes coffee leather various textiles chemicals pharmaceuticals plastics engineering and electronic goods ready made garments processed food sports goods fabricated mica and consultancy services
the company said a similar split was paid december eight leaving it with 2344200 shares outstanding
ultramar says fourth quarter showed improvements
hanson trust plc hnsnl said it will sell its finlays confectionery tobacco and newsagent business to a specially formed company finlays plc for an estimated 169 mln stg cash
moodys investors service inc said it may downgrade home shopping network incs 250 mln dlrs of ba 3 senior notes
exports to non ec countries were 190000 tonnes against 140000 and to ec countries 392 mln tonnes against 284 mln
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
he categorically denied press reports suggesting interlink was developing a buyout bid
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
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
he added even japan against whom this proposal seems to be particularly directed has started opening its markets
auditors qualify mco resources mcr report
he said production from the new section could begin about the time prudhoe bay production begins to decline in 2000 without endangering caribou or other wildlife in the area
feds johnson says lower dollar would exacerbate market conditions
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
nippon columbia to make bonus stock issues
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
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
1986 10 months loss includes 103 mln dlrs writedown of certain assets
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
all ticket is a special events travel company with exclusive european rights to ual inc ual s united airlines apollo system booking all united airlines flights in britain and europe
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
ibc closes export registrations exporters
the myra falls complex processed 3257 tons of ore a day during 1986
computer associates international inc said it has started its previously announced 192 dlr per share tender offer for all shares of bpi systems inc
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
home shopping hsn affirmed by moodys
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
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
underwoods plc said it had not been possible to agree terms on a bid to be made by woolworth holdings plc wlukl during talks
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
most ec states said to be against oils fats tax
united asset management corp said it has completed the acquisition of rice hall james and associates of san diego for undisclosed terms
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
reagan renews anti protectionism stand white house says trade war unlikely
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
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
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
qtly div 76 cts vs 76 cts prior qtr pay 15 may record 30 april
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
the average price for the six months bills was 96926 and prices ranged from 96977 to 96916
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
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
calumet industries cali sees 2nd qtr loss
varity expects to report 4th qtr and full year 1986 loss
grain and oilseed complex export business reported since yesterday by government agencies and private exporters japanese crushers bought 4000 to 5000 tonnes of canadian rapeseed in export business overnight for may shipment greece has agreed to buy 27000 to 33000 tonnes of spanish corn for spot shipment with italy buying 6000 to 7000 tonnes of spanish corn for last half april shipment a spokesman for cargills spanish unit said taiwan bought 54000 tonnes of us soybeans for april 20 may 5 delivery c and f continued the india state trading corp bought 20000 tonnes of optional origin soybean oil for may 20 june 20 shipment and 6000 tonnes of rbd palm olein for april 25 may 25 shipment at its import tender yesterday pakistan rejected offers at its tender for 12000 tonnes of rbd palm oil but is expected to retender next week the us department of agriculture usda said it has accepted a bid for an export bonus to cover the sale of 50000 tonnes of us hard red winter wehat to sri lanka for april 8 16 shipment with an additional 10000 tonnes of wheat still available to sri lanka under the export enhancement program eep continued the usda said it has accepted a bid for an export bonus to cover the sale of 18000 tonnes of us durum wheat to algeria for june 20 30 shipment with an additional 228000 tonnes still available to algeria under the eep
the placement will be made through mcneil mantha inc
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
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
the contract provides for the delivery of 48000 lbs plus or minus two pct of bulk hfcs 55 meeting specified standards regarding its physical and chemical properties
the actions of the small group that contral avia have hurt the little guy said eischen
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
norways state oil company den norske stats oljeselskap a s statoil statol has told thai authorities it is interested in taking a 30 pct share in a big offshore thailand gas field statoil said
japan seeks record low 47 pct april bond coupon
no amounts were disclosed
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
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 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
current year net both periods includes 150 mln dlr pretax charge from previously announced restructuring of datachecker systems and semiconductor group manufacturing operations
american hoist and derrick co aho 1st qtr net
further easing of monetary policy will be very difficult with an official discount rate already at a record low of 25 pct they said
the traders added that iraq had dissociated itself from opecs december production agreement while agreeing to the fixed prices
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 company last changed its crude oil postings on september 28
he said that unlike saudi arabia kuwait did not impose any conditions on brazil
but heineken scientists have been looking at other possibilities
lange predicts nz inflation to fall to 8 10 pct
brazilian newspapers today hailed these agreements as a sign that the national strike could soon come to an end
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
those rights are now being challenged by the european communitys ec agricultural support policies he told a conference sponsored by the american soybean association
peoples has assets of about 24 mln dlrs
the partnerhsip said this compared to 1985 figures of 660000 dlrs or 10 cts a unit
sales revenue 481 billion vs 469 billion investment income 11693 mln vs 6061 mln shrs 49435 mln vs 49422 mln
lyngs comment came after ec ministers in luxembourg endorsed a farm reform package drafted by the ec commission
sugar traders forecast likely ec sugar rebate
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 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
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
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
he said the secs responsibility was to provide full disclosure for securities including junk bonds and not to make decisions based on merit
the remaining matter to be presented is the proposed acquisition of becor by bcw acquisition inc now one of four offers for the company
for the first 11 months of 1986 soviet imports totalled 512 mln tonnes against 430 mln in the same period of 1985
the us senate finance committee this week called on president reagan in a non binding resolution to retaliate against japan for violating the agreement
iran says us raid caused 500 mln dlrs damage
investment firms have 59 pct of purolator pcc 
prudential said its new real estate unit prudential real estate affiliates will be headed by jerome m
independent bank corp ibcpo 1st qtr net
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
minister sees enough ec states against oils tax
earlier in the session it had been at a high of 72 1 4
bergen brunswig corp bbca 2nd qtr feb 28 net
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 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
a lasting stability in the world market requires a wider scope of international cooperation he added
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
earlier this week moodys and s and p upgraded the companys debt
skyline corp sky 3rd qtr feb 28
equity silver said the silver remains to be delivered under its sale agreement with placer after delivery of its 750000 ounce minimum commitment for 1987
north east insurance co neic 4th qtr loss
that pattern is starting and will continue for a number of years chimerine said
he sold it to ge in 1979
canadian imperial bank added that cardholders will be allowed to choose between the 15 ct transaction fee or the six dlr yearly card fee
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
the group which disclosed plans on dec 29 to seek control of the company reserved the right to change its mind again
baker said the us increase would account for 70 pct of the banks useable financial resources
ussr corn buying may be 35 mln tonnes amstutz
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
the company said soquem is considering the offer
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
warrantech corp 3rd qtr dec 31 net
swiss re will acuqire 500000 of the shares immediately and remaining shares will be bought after a due diligence report is completed by auditors
earlier today european community ec members decided to back an extension with the exception of britain which undertook to communicate its decision to its ec partners later
last december the ec determined that only one us cattle one hog and one sheep slaughtering facility could be approved without further review
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
national pizza piza corrects figure
national westminster bank plc said it has cut its base lending rate 05 percentage points to 105 pct today
cotton cont 1986 87 1985 86 04 09 87 03 09 87 04 09 87 03 09 87 usage domestic 710 701 640 640 exports 666 676 196 196 total 1376 1377 836 836 end stocks 540 549 935 935 avge price 517 x 517 x 5650 5650 x 1986 87 price is weighted average for first five months of marketing year not a projection for 1986 87
japan acts to cool us anger on telecoms dispute
union pacific has what are rumored to be some fairly signficant environmmental problems of its own he said
rep
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
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
fichtels other principal shareholders are commerzbank ag cbkgf with 3501 pct and salzgitter ag islgf with 2498 pct
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
vismara primarily produces a variety of pork products
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
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
france sold around 300000 tonnes of soft wheat to tunisia during the 1986 87 season
thai coffee production is projected to fall to about 25000 tonnes in the 1986 87 oct sept season from 28000 the previous year
central bank special drawing right holdings were 316 billion crowns compared with 306 billion in april and 251 billion in may 1986
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
canam manac wins 85 mln dlr contract
shr loss 24 cts vs loss nine cts net loss 216697 vs loss 47344 sales 144403 vs 118391
finished production in 1986 was 4565 tonnes 911 tonnes higher than the previous year and the best production achieved to date
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
usair u reports final proration factor
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
he told a press conference foreshadowing the banks annual meeting next week for the banks it is convenient to be repaid
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
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
dole mulls bill to extend ethanol tax exemption
the argentine grain market was quiet in the week to wednesday with prices rising slightly on increased interest in wheat millet and birdseed
shr 229p vs 269p
dixons plans to let cyclops cyl offer expire
in october 1986 the venture received permission from the us department of energy to fuel the plant permanently with natural gas
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
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
moi said kenya had so far met all obligations regarding its foreign debt which his government has never tried to reschedule
emery said chemical bank bankers trust morgan guaranty trust co and salomon bros had agreed to provide financing for the tender offer
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
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
temple inland intl paper up on raised opinion
kimbark oil and gas co kimbo 1986 year loss
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
earlier the employers had put the figure at around 30 mln
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
world sales for technical gases rose 51 pct to 105 billion marks and incoming orders gained 52 pct to 105 billion marks
moodys investors service inc said it may upgrade fleet financial groups 11 billion dlrs of debt
p and c foods inc foodo 3rd qtr oct 3 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
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
it said proceeds will be used to increase working capital for general corporate purposes and for possible future acquisitions
it also said it may sell certain assets to repay the bank borrowings and is holding talks with interested parties
fed expected to take no money market action
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
ccc interest rate for april is six pct usda
asamera inc asm year loss
it seems reasonable to expect production and consumption to be in far better balance than a year ago amstutz said
azpurua told reporters yesterday the document is in its final phase of preparation and will be soon be sent to banks for approval
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
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
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
he noted there had been a turnaround in a recent fall in foreign exchange reserves three days ago
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
even if marketing of the lighter cattle is not delayed grimes said beef supply likely will be reduced
butler manufacturing co said it agreed in principal to sell part of its controls division to enercon data corp of minneapolis
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
if it fails to make an agreement by that date it will default on the notes
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 cabinet was expected to give its approval next thursday and the new tariff cuts would be implemented possibly starting on april 20 he added
gaf gaf plans no changes if offer accepted
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
oil traditionally accounts for up to two thirds of ecuadors total exports and as much as 60 pct of government revenues
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
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
pirelli uk int finance issues 50 mln stg eurobond
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
the dollar was also supported by a major electrical consumer goods company which was a speculative dollar buyer at around 14525 yen they added
middle south msu to consider dividend
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
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
bankers trust bt raises prime lending rate
mcdonalds said it intends to issue the securities from time to time denominated in us dollars and or other currencies including european currency units
uk jan industrial output rises 04 pct manufacturing down 23 pct official
the companys chemicals business outlook is mixed haynes 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
todays middle rate per 100 yen was 112978 against 107520 at end february and 10586 at devaluation in september
something must give soon
rice corn lead 1987 us farm payments usda
many bankers have been urging an average half percentage point cut in deposit rates and a one point cut in lending rates they said
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
dot dismisses twa twa usair u application
allwaste inc alwso 2nd qtr feb 28
the mortgage sectors share in total parent bank business volume rose to 46 pct from 45
us beef sales to japan currently around 480 mln dlrs annually could increase to over two billion dlrs and as high as six billion dlrs by the year 2000 if japanese quotas were removed and the japanese consumer were made more aware of the attributes of us beef officials of the us meat export federation said at a press conference today
paralax said the acquisition is scheduled to close march 16
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
stands in these fields were thin and chances of recovery appeared less favorable he said
as any sailor knows it only takes two or three inches out of line and you can turn a barge over
by better than a three to one ratio a majority of those polled said they liked reagan on a personal level
further consolidation of foreign companies including the increase of its stake in leading spanish brewery el aguila sa to 512 pct new ventures and modernization particularly in french and spanish interests eroded profit margins
the operation will put the outstanding bill supply at about 1900 billion yen money traders said
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
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
greyhound announced june 19 that it wanted the icc to let it begin operating trailways immediately while continuing to evaluate the merger for possible antitrust problems
northern trust ntrso files shelf
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
the agreement will allow the cars to be designated as domestically manufactured rather than imported vehicles nissan said
provisions for startup expenses have been made it added
he said the criticisms were in a report by an imf commission which visited yugoslavia last december and january
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
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
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
the companies said the resulting company wil retain the name computer associates international inc
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
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
the harvesting season begins in april
the eep export enhancement program is pretty obviously one of the things they the exporters want to talk about but they havent any agenda as far as i know lyngs aide said
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
conditions will be set on march 11 and payment date is march 30
two of the most visible industries are semiconductor and computer companies said the official who the newspaper said was a central figure in the opposition to japans fujitsu ltd itsut takeover bid for fairchild semiconductor corp the fairchild fujitsu deal was abandoned on monday and industry analysts said the move was a victory for the reagan administration in its drive to beat back japanese competition in the important computer chip manufacturing industry
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
kuwait has backed iraq in the seven year war against iran and its ships have increasingly been the target of iranian attacks
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
ibp oxy plant reopens without incident
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
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 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
however delegates said no solution to the question of how to implement quotas was yet in sight
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
cra said it held forward contracts at year end to buy 985 mln us dlrs to hedge part of its foreign debt
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 agent said delivery includes laydays of april 5 15
integrated circuits inc said it set march 17 as the record date for its previously announced 10 pct stock dividend
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
dupont dd unit raises crude oil prices
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
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
the banks lending last year consisted of 63 loans totaling 304 billion dlrs bringing the agencys cumulative lending to 3544 billion dlrs
april may butter went at 227 times new york may june july at 4400 and 4415 dlrs aug sept at 4351 to 4450 dlrs and at 227 and 228 times new york sept and oct dec at 4480 dlrs and 227 times new york dec comissaria smith said
itoh and co hong kong ltd wako international said
rice season begins august 1
it also said michael gruenberg resigned from the companys board of directors
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
the company said 1986 results were seriously affected by lower oil and gas prices but did not reflect its recent acquisition of aberford resources ltd it said that while oil prices had improved in early 1987 it would remain cautious and base capital spending on conservative price assumptions
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
he said that while the us officials had been disturbed by brazils suspension of interest payments they understood brazil had no other choice as it had to protect its reserves
european community steelmakers presented the executive commission with a controversial plan for the future of the industry which diplomats say it may be forced reluctantly to accept
semi annual div seven cts vs six cts prior pay june one record may one
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
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
the sharp fall in international coffee prices will not affect colombias external credit situation finance minister cesar gaviria told 
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
last month warburg pincus launched a tender offer to buy up to 25 mln symbion common shares
new world pictures to have gain from sale of five pct of taft broadcasting
ministry of primary industries officials said in january the cabinet would decide on malaysias participation but so far a decision has not been announced
commenting on the survey cbi economic situation committee chairman david wigglesworth said sterlings more competitive level against many european currencies had improved exports
all that money could be spent on something else direct central government subsidies to the farm sector amount to some five billion dlrs per year
allegis has 100 pct ownership in westin hotels in vancouver calgary ottawa and toronto and 100 pct interest in hilton international hotels in toronto and montreal
the leftist led fut said it was also backing a call by the maoist popular movement for democracy mpd party to have congress impeach and oust febres cordero a conservative for having adopted the austerity measures
hovnanian enterprises hov earnings to rise
house speaker james wright a texas democrat said again today he expects the full house will approve the trade bill by may and that reagan will accept the final congressional bill
the leveraged buyout was implemented to ward off a bid by dart group corp dartao
qtly div 70 cts vs 70 cts prior pay june eight record may eight
ecuador squeezed by a slide last year in prices for crude its main export suspended payments to private foreign banks in january
the trader said transporting stocks from these areas to consumers in east and south china was a problem particularly as coal had priority
the ministry said the operation would mainly benefit long term holders of the issues mainly small investors and small communes
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 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
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
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
article 65 of the securities and exchange act japans version of the us glass steagall act separates commercial from investment banking
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
arvin industries arv to sell 150 mln dlrs debt
in 1986 the company lost 14 cts a share
last year cpc bought 120000 tonnes gulf of suez through citoh
the commission has set a hearing on the rate issue for july 28
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
canadian airlines will have 35 40 pct of the 6 billion canadian dlr domestic market against air canadas 50 55 pct
the prior results reported income of 2421000 or 121 dlrs per share
harris teeter properties inc htp sets payout
the businesses assets were 6457 mln dlrs in 1986 the report said
canadian 1986 87 coarse grain production is projected at 2762 mln tonnes vs 2762 mln tonnes last month
cadnetix corp cadxo 3rd qtr march 31 net
in its announcement security pacific said it will record interest income only as it is received in cash
price co pclbo 3rd qtr june seven net
chemical new york corp chl 1st qtr net
mark iv already owns about 99 pct of conracs 68 mln shares outstanding
the bank of england said it invited an early round of bill offers to help ease tight conditions in the money market
it gave no figures for the output drop
schwab safe co ss ups payout
in economic terms reform would be a plus said christopher chew of brokerage firm james capel and co
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
bundesbank buys 117 mln dlrs as dollar fixed lower at 17740 marks
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
the proposed share out would still include shortfall declarations they said
the offer for the 45 pct of standard shares not owned by bp had been due to expire midnight april 28
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
it rose four cents against the us dollar on saturday to close at 3459
one rumor had federated department stores inc fds taking a look at supermarkets general
earlier on monday the finance ministry spokesman asked to comment on the apparent us german clash over the louvre accord went no further than quoting stoltenberg as saying he assumed monetary cooperation would continue
general refractories co grx 4th qtr net
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
in a wide ranging discussion on us trade matters baldrige also repeated us concern about an attempted takeover by japans fujitsu company of fairchild computer
output of construction supplies rose 02 pct in february after a 15 pct january rise
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
canadian bond rating service said that based on facts currently available on the proposed transaction it does not anticipate the necessity of a downgrade
yes im troubled with that a little bit he said
the consumer price index base 1976 rose to 7613 from 7537 in january and compared with 6954 in february 1986
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
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 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
the selling concession is 1 1 4 pct while management pays 1 4 pct and underwriting 3 8 pct
the agency rates a finance unit on its creditworthiness as well as the support agreement it has with its parent
fhlbb changes short term discount note rates
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
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
deficit on net income and unrequited transfers was 646 mln dlrs against 736 mln in january and 543 mln a year earlier
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
inventories have steadily declined with supply and demand in better balance but overcapacity continues cra said
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
the dollar traded around 14520 30 yen when trading began in the afternoon here and weakened only slightly the dealers said
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
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
agriculture and services were included in the negotiations for the first time
laurentian capital corp which recently acquired two small us life insurance companies had 1986 profit of 11 mln us dlrs or eight cts per share compared to seven mln us dlrs or 68 cts per share
they named kuwait and the united arab emirates along with the much smaller producer ecuador among those producing above quota
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
the other major canadian crude suppliers raised prices june 18
there is a 1 14 pct selling concession and a 5 8 pct combined management and underwriting fee
the transaction carries the guarantee of nomura securities
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
gould another close confidante has known baker for years
billboard publishes eight specialty magazines including billboard magazine and 15 annual directories
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
the seasonally adjusted permits total in february for single family units was 1235000 and for multi family units was 529000 units
oper shr 21 cts vs 18 cts oper net 659000 vs 523000 revs 7866000 vs 5503000 avg shrs 3141217 vs 2925294 12 mths oper shr 70 cts vs 46 cts oper net 2075000 vs 1358000 revs 259 mln vs 193 mln avg shrs 2980247 vs 2925294 note excludes tax gain of 295000 dlrs for qtr and year
the purchases complete the export enhancement program initiative for china announced jan 26
the payment date is april 23
rcm technologies inc rcmt 1st qtr jan 31 loss
the company today reported a loss for the second quarter ended february 28 of 2733000 dlrs after a 6705000 dlr pretax provision for the shutdown of the overseas units and a 2511000 dlr tax credit
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
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
bank notes in circulation fell 3091 mln francs to 2449 billion and other deposits on call basically government funds rose 106 billion to 210 billion
the new body would not aim at negotiating measures to stabilise depressed world prices
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
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
combined international corp should have another strong year president patrick g
loan loss provision 35 mln dlrs vs 70 mln year earlier
no one has said the boycott will have a profound effect on international trade with south africa but it is an important political statement by the norwegian government he said
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
backlog 5076 mln dlrs vs 4444 mln dlrs
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
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
dibona said there is no unanimity within the industry on how to stimulate energy production but there is consensus on removing several government policies that hinder investments in new prospects
ecuador to use colombia oil link for five years
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
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
grand metropolitan plc said its grandmet usa inc unit decided to sell its physical fitness and exercise equipment business
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
more
senior citibank executive william rhodes said he was encouraged by the banks response and that telexed commitments continue to arrive
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
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
full year revenues totaled 237 mln dlrs the company also said
terms of the acquisition were not disclosed
security pacific now has four major regional bank purchases outside california completed or pending
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
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
low import prices in 1986 helped to keep annual inflation down to 08 pct
ibp is a subsidiary of occidental petroleum corp
he did not say if foreigners would be allowed to buy all or part of the companies
west german finance minister gerhard stoltenberg said the currency agreement reached in paris in february had been successful and would be continued
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
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
it said its smith kline and french laboratories pharmaceuticals unit with 1986 sales of 19 billion dlrs will file for food and drug administration marketing approval for a number of cardiovascular agents including tissue plasminogen activator over the next two years
it said in a statement it forecasts a net cash withdrawal from the system over the settlement week
unilever fragrance unit has lower 1986 earnings
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
jordan gets 964 mln dlrs in world bank loans
based on about 183 mln outstanding shares the market in its frenzy was valuing the spin off at about 900 mln dlrs analysts said
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
trade sources said supplies had improved in the past week but prices had hit their lowest since last december
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
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
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
trade subcommittee chairman rep
brazil is currently suffering from the worst inflation of its history
ghana will import 15000 tonnes of crude oil annually from iran under an agreement reached in tehran today the iranian news agency irna reported
nine months 1987 includes extraordinary gain of two cts per share
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
co leads are shearson lehman and nippon european bank sa
no targets for volume will be set
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
currently there are only about 760 oil rigs operating in the united states compared with an average of nearly 2000 in 1985
handleman co hdl sets quarterly
south australia agency issues zero coupon bond
a senior nicaraguan official said a recent plunge in coffee prices was economically and politically disastrous for latin american coffee producing countries
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
geodynamics corp gdyn 3rd qtr feb 27 net
depending on several circumstances appleton said he may buy more sage common shares or sell some or all of his current stake
according to court documents payments on the loan were made until the mid 1930s when china was torn by civil war
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
us treasury selling 17 billion dlrs of 9 day and 20 day cash management bills on april 2
turkey said today its disputes with greece including rights on the continental shelf in the aegean sea should be solved through negotiations
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
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
one factor against a trade war may be that washington is not anxious to push nakasone into his grave sterling said
but the loss of many jobs to foreign competition has raised similar concerns among more moderate senators
the ministry previously revised pump prices and announced the changes for the oil companies
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
net includes loan loss provisions of 500000 dlrs vs 105000 dlrs in quarter and 1100000 dlrs vs 105000 dlrs in nine mths
the company said it expects significant contract awards to spitz later this year
it is not callable until 1992 unless the share price exceeds 130 pct of the conversion price
wti now 1900 dlrs
this covered imports of dairy products peanuts cotton and sugar
foreign stock buying in march is expected to exceed the record high of 15 billion dlrs seen in december they said
but among his chief concerns was the weakened condition of lesser developed countries and their ability to pay for their imports
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
the selling concession is 1 1 4 pct while management and underwriting combined pays 5 8 pct
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
president reagan who strongly supported the uruguay trade round to promote freer trade has said washington will impose tariffs against japanese electronic goods
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
the rest came from acquisitions he said
coupon set amount increased on metal box eurobond
fifth third bancorp and c and h bancorp said they reached a preliminary agreement to merge
if the currency breaks through this level it may decline sharply said hirozumi tanaka assistant general manager at dai ichi kangyo bank ltds international treasury division
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
merrill lynch is a member of the london stock exchange in addition to its us and other international investment activities
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
in 1986 it won new orders in the us pakistan nigeria and egypt
timex corp sells unit
soybean export estimates ranged from 120 to 150 mln bushels versus 108 mln exported last week and 132 mln last year
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
he felt that the us recovery inching along in its 59th month could no longer be the only engine of global economic expansion
g 10 finance officials discuss debt currencies
akzo unit concludes licence agreement with basf
convertible peseta funds had been previously exempt from reserve requirements
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
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
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
bayer world group 1986 pre tax profit 330 billion marks 315 billion official
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
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
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
i think that what brazil is calling for limiting its debt payments to two and one half pct of gnp is a responsible request on their part economist martin feldstein said at a news conference
the sale is due to take place on april 1 with the proceeds intended to reduce group debt in the short term
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
skippers inc skip semi annual dividend
gold output in the northeast china province of heilongjiang rose 227 pct in 1986 from 1985s level the new china news agency said
a private us rice trader visited tokyo last week requesting japan buy 200000 tonnes of rice for industrial uses such as making sake
we have reached what i judge to be the medium term financial strategys appropriate destination a psbr of 10 pct of gdp
it the convoy is now progressing uneventfully in the central gulf the pentagon statement said
corrected hecla hl to buy mine stake from bp
south africa banks agree new terms to repay debt
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
final terms will be fixed on april 15
months before the report was issued us and ec business leaders met their japanese colleagues to discuss the trade problem
king fahd said today saudi arabia wants oil price stability and he called on non opec producers to avoid harmful competition with the 13 nation group
scientific micro systems smsi acuires supermac
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
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
we prefer to wait until things are better prepared he told 
oral proceedings were held in the hague on friday and the court said it would give its verdict within six weeks
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
azure ventures ltd said it signed a letter of intent to acquire john paul richards and associates inc
gaf corp offers 36 dlrs a share cash for borg warner
the bank transferred 459 mln dlrs of poor quality loans and other assets to the federal deposit insurance corp fdic during 1986
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
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
labour minister almir pazzionotto said the government will not force a settlement of the strike which was ruled illegal last friday
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
shearson lehman upgrades us oil stocks
salomon noted that the issue carries the lowest spread over libor of any cmo issued in the euromarkets to date
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
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
negotiators at a united nations conference on a new inra resolved differences and agreed last saturday on basic elements for a new pact to replace the current one which expires in october
stoltenberg told the diht that his meeting on monday with baker had resolved differences between the two countries
turnover 1409 billion vs 1535 billion
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
customs figures showed china imported 118 mln tonnes of sugar in calendar 1986 down from 19 mln in 1985
nimocks said peschs revised offer is not worth much more than the 20 dlrs cash offered previously
frn trading seen returning to more normal patterns
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
m
bankers could not back down either because they would have had to sacrifice millions of dollars in profits and may have thrown the door open to other debtors notably argentina and brazil to claim even finer spreads than mexicos
the four institutes said an expansive policy was welcome in view of the slowdown in economic activity
rumors continue to swirl around its stock
us senate trade leader concerned about canada
there are no bases of truth to the contents of the iranian accusation on the nature of the operations of the vessels recently taken into custody by iran
apache apa files for 100 mln dlr offering
market sources have put the total value of ccfs selloff at between four and five billion francs
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
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 shares are being offered pursuant to a shelf registration covering 700000 sahres of serial preferred stock which the company filed on february 19 1987
however hackmann said production could continue to exceed consumption
baker stoltenberg meeting soothes markets
cocoa terminal deposits to be cut 25 pct icch
usda rejects sri lankas 80 us dlr wheat price
the company said a settlement has been reached between the parties and and karl lorimar which includes a settlement of the employment contract between lorimar and stuart karl
the white house distancing itself from remarks by the administrations budget chief said the federal reserves current course of monetary policy was appropriate
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 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
1985 shr and net exclude extraordinary gain of 183000 dlrs or two cts share
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
the bank of england said it forecast a shortage of around 300 mln stg in the money market today
it was the second half of a two week bank statement period that ended on wednesday
that money will be available until april 1988 if mexicos export receipts and the price of oil fall below certain levels
production at the mine has been suspended until the investigations are complete
but hannes androsch head of creditanstalt bankverein cabvvi told he opposed a cut because it would hurt small savers
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
cpc cpc to sell european business
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
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
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
this is the first time that it has intervened today
the season for corn and soybeans began september 1
us treasury secretary james baker said he was making progress negotiating reform of the inter american development bank with other member nations
the crop reporting board said the estimates for the 1986 87 season are based on maturity and yields tests as of april 1
if at least 90 pct of argosystems shares are tendered it said it will buy all shares but if less than 90 pct are tendered it said it plans to buy only 49 pct in the offer
the result includes profit and loss transfers from bankhaus centrale credit and the visa organisation
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
total net income is expected to reach 24 mln dlrs which includes 17 mln dlrs of net income realized from sale of property
seasonally adjusted imports rose in february to 716 billion stg from 673 billion in january
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
the conversion period is from april 13 1987 until march 22 2002
the company has nearly two billion dlrs available for acquisition today panic said adding we are investigating a number of companies one company being studied could possibly be acquired on a friendly basis he said
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
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
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
ccc accepts bonus on poultry to iraq usda
semi annual div from income of 73 cts vs 10 cent in prior period payable march 27 record february 27
this will help prevent lower quality cocoa from malaysia the worlds fourth largest producer undermining the market
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
the basic cause some combination of insufficient domestic savings and an excessive budget deficit would remain the report said
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
internationalisation of the yen is also likely to be promoted by yen bond trading in chicago and new york later this year securities managers said
yields after the first year will be linked to rates on 12 month treasury bills
makumbi blamed the failure to set quotas which were suspended in feburary last year on indonesian demands that its quota be increased dramatically
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
non callable for two years the debt is rated b 3 by moodys investors service inc
both increases are effective april 1 1987
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
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
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
its products are complementary to those of glynwed subsidiaries durapipe uk and philmac
the mine was kept open in 1985 after tasmania gave rgc 10 mln dlrs in aid
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
but mainichi quoted nippon steel officials as saying if prices are reasonable they would export their used mills to china
earlier this year chase manhattan banks cmbn subsidiary decided to stop foreign exchange trading after heavy losses and focus instead on fee based merchant banking
in a separate statement issued through tanjug ina said it has successfully completed the first drill at the depth of over 3000 meters in the bay of baes in tunisia
the brazilians long ago learnt their lessons yulo said
no other details were available
he said the kremlin planned to produce 235 mln tonnes of grain in 1988 versus a planned 232 mln this year
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
segal said manufacturers hanover has been authorized to convert part of its own portfolio of loans into equity investment in mexican hotels
bangladesh purchase of wheat confirmed
dresdner shares surged to open 1050 marks higher at 31950 before climbing further
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
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
usa outdoor advertising was acquired for 624 pct of the outstanding shares of info data inc the company said
howard macdonald said in a statement
standard and poors corp said it may downgrade mark iv industries incs 200 mln dlrs of b minus subordinated debt
it gave no figures
he forecast the chancellors budget tax cuts would increase consumer expenditure on imported goods
on tuesday officials said treasury secretary james baker told secretary of state george shultz the idea was a creative one and signaled his approval to philippine finance minister jamie ongpin later that day
it said the strike was called to defend the nationalised mining industry
usda today transmitted to congress a package of legislative proposals including bills that would cut target prices and speed up loan rate reductions
shadowfax resources ltd shfxf year loss
canadian officials in ottawa also said they have consistently tried to look at membership of commodity pacts on the merits of each case
he cited the example of a california company which transports live us cattle to japan by air for slaughter to circumvent the beef quota
it said the pipeline could provide petromont with feedstock at one third the cost of moving it by rail
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
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
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
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
jardine matheson is undergoing a series of reorganisations that will in effect turn it into a holding company for its diverse interests
terminating the tax treaty with the netherlands antilles may cause bond issuers to call in the bonds early
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
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
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
it said rice hall manages investments for institutions and individuals and has about 690 mln dlrs in assets under management currently
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
two japanese steelmakers to cut capital spending
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
proceeds will be used to reduce outstanding bank debt under the companys revolving credit agreement fieldcrest cannon said
for the first time in several years a recession in 1988 or 1989 is more than a remote possibility van dyke said
the government has sacked about 20000 miners from its deficit ridden corporation since the collapse in the international price of tin
olin corp oln 3rd qtr net
a colombia government trade official has urged the business community to aggressively diversify its activities and stop relying so heavily on coffee
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
american business products inc abp 3rd qtr
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
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
it pressed the banks to allow chile to make annual instead of bi annual interest payments speeding an accord
firstier inc frst sets regular quarterly div
shipments in tonnes with comparative figures for the 1985 period in brackets included beef 120184 137686 horse meat 25651 33892 and beef offal 50100 47745 argentinas meat exports totalled 20481 tonnes in december 1986 against 15801 tonnes in the same 1985 month
that is 87 basis points more than the yield of comparable treasury securities
the operation will put outstanding bill supply at about 4300 billion yen they said
federal reserve board chairman paul volcker said the performance of the dollar in exchange markets could be a factor in the us central banks decisions on monetary policy
i am not aware of any direct contact between washington and fujitsu but that doesnt mean it doesnt exist brooks said
it said the increase was exclusively due to higher beet sugar content which went up to 1793 pct from 173 pct in 1985
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
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
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
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
they were priced to yield 945 basis points over treasury securities of comparable maturity
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
world grain trade could be turning the corner and heading toward recovery in the 1986 87 season a cargill inc
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
reserves rose by 170 billion rand during january and february
c and w has a 20 pct stake in one of the two firms watanabe has proposed should merge
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
the company said the rights would be exercisable 20 business days after a party were to acquire 20 pct or more of crazy eddie common stock or announce a bid for 30 pct or more
german industrial output rises 32 pct in february
other analysts however said currency futures may be near the top of their long term rally
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
the 1986 year net reflects 512 mln dlr gain from cumulative effect of accounting change
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
kelley oil kly buying oil properties
kodak said part of the staff reduction will be achieved through an enhanced voluntary separation and retirement plan for employees of carolina eastman eastman chemical products inc and other kodak units in kingsport except holsten defense corp
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
on march 12 the chatsworth calif computer disk drive concern said it agreed in a letter of intent to exchange 80 pct of its stock all of which would be newly issued for the assets of privately held hemdale film corp with hemdale as the surviving entity
little reaction to comex price limit removal
unless there are further improvements at least some sugar is expected to remain in intervention it added
offshore buying has also played a role in the booming australian share market
the surviving company will be controlled by dunhills principals total capital said
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
virginia electric and power co subsidiary of dominion resources inc d shelf offering of up to 1350000 shares of 100 dlr preferred stock
blue arrow plc said it had agreed terms to acquire a group of us companies collectively known as the richards companies which specialise in executive recruitment and management consultancy on personnel matters
prior year figures restated for discontinued operations
they said the operation would be through the issue of depositary receipts by bnls london branch
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
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 rest will be financed by new debt
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
fees comprise 5 8 pct for management and underwriting combined with a 1 8 pct praecipuum and 1 1 4 pct for selling
but for debtors with substantial financing needs new lending will still be necessary he said
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
this issue equals in size a record one by toyota motor corp last december
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
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
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
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
there will be no management fee for participants
takeover speculation continues to fuel heavy trading in ual inc traders said
the arbitrageur said the equity portion was worth about 400 dlrs for a total of 51 dlrs
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
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
they also said the heating oil contract found additional support from a short covering rally on the close
irna made no mention of natural gas exports to the soviet union which aqazadeh had said would be discussed before he left for moscow
qtly div 45 cts vs 45 cts prior pay april 30 record april 10
in a letter to shareholders the company said that that part of its business continues to be unprofitable
at present astra stock consists of one series of restricted shares and one of free shares
last week the aide indicated lugar was planning to offer the 0 92 measure and a bill to tighten a payment limitation loophole
shin etsu put potential demand for the product at two tonnes a month mainly for microwave ovens and as a sealant
hokkaido takushoku bank issues 100 mln sfr notes
federal states deposits fell 15 billion marks to 13 billion and their cash credits dropped 400 mln to 300 mln
under this structure an initial tranche of a minimum 50 mln dlrs has a fixed rate of interest and maturity
in 1986 japanese imports and exports with the ec both grew by around 50 pct in dollar terms five pct in yen
lotus development corp lotso 3rd qtr net
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
heineken now has seven bars in moscow that are enjoying good sales but the bars only accept western money
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
it said if all options are exercised the contract will be worth a total of 78 mln dlrs
the bureau attributed the increase to a turnaround of 208 billion dlrs in official sector transactions and a 109 billion turnaround in direct investment
some analysts said american express could use capital since it plans to expand globally
the official said the volume of the central bank cds which had a maturity of three months was still small as todays transactions were seen as an exercise for what is still a new market for the bank of finland
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
taiwan plans mission to close trade gap with us 
west german finance minister gerhard stoltenberg said he was not surprised by the overnight decline of the dollar in foreign exchange markets
compaq computer corp said it expects sales and earnings for the first quarter of 1987 to be higher than analysts expectations due to strong demand for its products
in january the index rose 04 pct for a 39 pct year on year rise on both the previous base and the new index
japan warns of anti us sentiment in trade row
its shares will be divided by eight giving a capital of 128 mln shares of 25 francs nominal
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
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
we maintain whats going to drive canadas export performance is income growth in the us said midlands donegan
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 current 55 pct prime rate has been in effect since february 28
the unit baker international finance nvs senior debt guaranteed by baker was reduced to a minus from a
cbc bancorp to be acquired by union planters
dillard department stores inc dds 4th qtr net
the company said the notes redemption price is 100 pct of their principal amount plus accrued interest
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
acknowledging that sanctions have lost poland important us markets including agricultural equipment textiles chemicals and some foodstuffs western economists say credits dried up for economic not political reasons
the attack was near magangue in northeastern bolivar province
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
qtrly div five cts vs five cts pay april 20 record march 30
incoming orders gained four pct in the quarter after a five pct third quarter fall and were up one pct from the year earlier level
no maximum or minimum price has been set
in london lloyds insurance said the 162046 ton iranian tanker avaj was hit on saturday when iraq reported an earlier gulf attack
exports hit 977 billion dlrs in 1984 cutting the regions debt service ratio to 36 pct but they fell to 783 billion last year
kongsberg draftings annual worldwide sales are about 15 mln dlrs clark copy said
oak ondustries oak to buy electronics firm
leahys proposal would also allow a larger 1988 wheat set aside if projected stocks surpassed 19 billion bushels
shr three cts vs 80 cts net 46000 vs 1220000 revs 115 mln vs 130 mln avg shrs 1608000 vs 1530000
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
dave carter president of the us beet sugar association said plantings may be up in two major beet growing states california and michigan while sowings could be down slightly in the largest producing state of minnesota
they have 300 sugar mills compared with our 41 but they relocated many of them and diversified production
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
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
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
the decline was partly compensated by a small rise in purchases of durable goods
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
in 1986 the mine produced 10600 ounces
bankers trust co raises broker loan rate
thousand trails inc trls year loss
as previoiusly announced the proposal calls for a transaction in which pnp shareholders would receive a combination of 1750 dlrs in cash and 250 dlrs in liquidation value of cumulative preferred stock for each common share
greece earlier this month declared it considers the accord inoperative
moodys said that may include divestiture of various petroleum and non petroleum assets and operations of bp and standard
amc says it is studying chrysler buyout proposal and will comment when appropriate
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
western digital corp wdc redeems debt
pilgrim venture corp said it signed a letter of intent to merge with marketing technologies group inc rockville center ny under terms of the agreement pilgrim a publicly held corporation said it will issue two mln shares of authorized but unissued restricted common stock to marketing technologies shareholders
the png geological survey paper noted there are five large prospective but little explored sedimentary basins in png
iraq turkey oil pipeline cut by landslide
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 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
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 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
amertek inc atekf year net
us officials said darman also played a key role in shepherding president reagans sweeping tax reform plan through the us congress
princeville development corp pvdc year loss
analysts said last year british petroleum held one of the more bearish positions on oil prices
permian corp a subsidiary of national intergroup said it raised its crude oil postings by 50 cts a barrel effective june 17
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
the company also said that effective today it will be trading on the nasdaq system under the symbol vlans
delegates said both sides still appeared divided on the key issue of the price adjustment mechanism
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
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
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
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
miltope group inc milt 4th qtr net
aetna aet reaches agreement to buy company
feds johnson stresses price stability
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
nogales said he did not expect bolivias debt repurchase to become a model for other debtors in dire straits
shr 50 cts vs 26 cts net 1316000 vs 656000 note qtr 1987 includes tax gain 500000 dlrs or 19 cts per share
australian minister says agriculture gatt priority
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
kacek
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 government and private interests will equally share the additional investment he said
it also said that about 60 net infill wells are not economical to drill at december 31 prices
a spokesman said the disposition consists of a combination of sale lease and re franchise agreements
any unilateral us moves would leave the ec no option but to react according to the laws of the general agreement on tariffs and trade it said
if you look at the differences between the treasury market now and in the carter administration years it is a much more global market now the official said
mthly div 15 cts vs 15 cts prior pay april 30 may 29 june 24 record april 15 may 15 june 10
he forecast the chancellors budget tax cuts would increase consumer expediture on imported goods
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
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 issue will be lead managed by caisse nationale du credit agricole credit lyonnais and cie financiere de paribas subsidiary credit du nord
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 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
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
he said he expected further declines in later months but did not give figures
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
north yemen calls sugar buying tender trade
we no longer see a near term prospect for a reasonable return on our investment romilly humphries say president and chief executive officer said
however he acknowledged signs were still lacking on such a decline
the results were largely in line with forecasts and rugby shares were little changed at 242p after 241 at fridays close
bonn serious about currency pact says tietmeyer
software services of america inc ssoao net
bbc ag brown boveri und cie bbczz 1986 year
australias m 3 money supply growth was 15 pct in march and 113 pct in the 12 months to march the reserve bank said
each 1000 mark bond carries two warrants which can be converted into 500 dlrs each at an exchange rate of 186 marks
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
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
loynes added however the higher taxes are not expecetd to have a significant impact on earnings
shr 58 cts vs 29 cts net 3141000 vs 1440000 sales 247 mln vs 130 mln
gerard guillonneau of france speaking for consumers agreed that the 1979 agreement had worked relatively well
brokers said the disease had not affected prices because it has not caused a drop in production
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
al chalaby is the head of the iraqi national oil company
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
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
video library inc vlvl 4th qtr loss
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 plant wilq use about a tonne of sand per day although it is unclear how much rare metal will be extracted the official said
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
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
offsetting this was a 23 pct fall in the cooper basin gas and liquids revenue of its 506 pct owned vamgas unit
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
iraq blames iran for the outbreak of hostilities which have entailed world war i style infantry attacks resulting in horrific casualties
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
a us insurance broker for 56 mln dlrs
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
by segment spending at carbon products fell to 42 mln dlrs from 57 mln dlrs and spending fell at specialties and services to 126 mln dlrs from 143 mln dlrs
fourth quarter medium and long term foreign debt repayments exceeded new credits by 11 billion francs
harcourt brace hbj calls special meeting
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
brazilian red meat output down sharply usda
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
monfort is an integrated beef and lamb producer
john mccain an arizona republican told reporters
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
payment date is april 9 and coupon date april 10 annually with final maturity on that date in 1994
excess liquidity has been hitting bank profits since early last year despite five interest rate cuts in 1986
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
he told a briefing of economic journalists that i dont think we should rush anything lawson stressed the themes of gradualism and steadiness as economic policy
fixed asset expenditure rose by 96 pct to more than 650 mln
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
sulphur production rose to 123 mln tonnes in 1986 from 998707 tonnes in 1985
shr four cts vs 10 cts net 31000 vs 82000 sales 109 mln vs 9760000
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
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
packaging systems paks to buy label firm
anheuser busch cos inc said it will issue 150 mln dlrs in principal amount of 8 1 2 pct sinking fund debentures due march 1 2017
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
denominations are of 5000 francs nominal and the issue will be quoted on the paris bourse
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
transcanada pipelines yesterday announced a 43 billion dlr canadian 322 billion us bid for all of domes assets but dome which is based in calgary alberta said it is also still talking with two other companies which it refuses to identify
johnstown consolidated realty trust jct net
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
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
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
standard and poors said that currently 17 finance units benefit from parent relationships by receiving higher ratings than their financial performance alone would merit
royal said the assets of the units it will acquire from transwestern are mostly gold properties
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
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
mclean said its shipping units are returning the vessels operating in foreign commerce to united states ports to permit the planned transfer to purchasers
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
moodys may cut bp bp standard oil srd 
norways wholesale prices rise 05 pct in february
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
interested parties have until march 25 to file statements in response to the supplemental petition
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
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
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
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
biotech capital corp said it agreed to buy high technology magazine from the goldhirsh group of boston
figures quoted in philippine pesos
they compare with 785800 tonnes of oilcake and meal and 407400 tonnes of crude vegetable oil produced in 1985
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
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
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
the market can be bigger than the central banks
cambrian officials were not immediately available for further comment on todays statement
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
s and p also cited net charge offs especially in real estate energy and consumer loans
us video vvco says note is called by lender
higher earnings from trading on the banks own account contributed to record operating profits
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
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
australia set to grow but unemployment may rise
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
trading in shares of schweizerische aluminium ag alusuisse aluzz was suspended on the zurich stock exchange after todays announcement by the company that it would cut its share capital by 50 pct the bourse said
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
he said south africa had negotiated from a position of basic economic financial strength we were never overborrowed to begin with and we are now underborrowed by all international criteria that ive ever heard of de kock said
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
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
marine midland banks inc said it is raising its prime lending rate to 7 3 4 pct from 7 1 2 pct effective immediately
qtly div four cts vs four cts prior pay may 13 record april 29
argentine grain shipments in the week to april 1
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
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
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
it said the two companies which had combined 1986 revenues of about two mln dlrs provide underwriting information services to property and casualty insurers
losses in the nine months were reduced to 327 mln dlrs or 44 cts from 844 mln dlrs or one dlr
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
xicor inc xico 1st qtr march 22 net
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
he said there were several people looking at the domestic drilling bit business
britoil plc btoll 1986 yr
pan huashan an official of the agricultural department of zhejiang province said rural industry also subsidises grain output in his province
payment date is march 5
it seems to me that more trade between us is better than less trade he told a forum on us soviet trade relations
robert c
the food department will cease trading in sugar and will no longer hold a buffer stock a senior official said
lead manager is union bank of switzerland
moodys investors service inc said the debt ratings of people express airlines inc remain under review for possible downgrade
even so japanese officials point to last septembers government programme of new economic measures
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 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
tenneco to become open access transporter of natural gas
salomon said that the current exchange rate is 10362 yen to the australian dollar
the high equity content of the issue accounts for the low coupon
holiday will redeem the harrahs bonds at 1045 pct of the principal amount plus accrued interest or 107931 dlrs per 1000 dlr face amount
uk longer cyclical indicator rises in february
japan unemploymnent rises to record in january
delegates will also be briefed on arrangements for an international cocoa research conference due to take place in santo domingo in the dominican republic next month cpa secretary general ds kamga said
us oil prices strong ahead of opec meeting
they said ec foreign ministers will meet on may 25 and 26 to review the state of trade relations between the two sides
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
it said the dividend was payable april 15 to shareholders of record march 31
prior to this move innovex owned 79 pct of lucht the company said
many mills are not working because of a lack of spare parts it added
jc bradford and legg mason co managed the deal
no figure for the final deficit was avaialble
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
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
proceeds will be used together with funds from the companys operations to redeem southern naturals 15 pct sinking fund debentures of 1991
home savings bank hmsb 1st qtr net
qtly div 32 cts vs 32 cts prior pay may 15 record may one
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
rep
however it said it will conduct open market operations during the week
ferruzzi may float up to 49 pct of paris unit
globe produces silicon metals and magnesium ferrosilicon
implementation was postponed in the hope that rabuka might turn back from declaring a republic
healthco international inc hlco 4th qtr net
canandaigua wine co inc cdga 2nd qtr net
year on year inflation stood at 100 pct in february and at 153 pct in march 1986
the agency noted that chrysler would assume substantial debt and unfunded pension liabilities as well as two inefficient production facilities
hawaiian electric industries said it has entered a letter of intent to buy the hawaiian insurance companies
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
but we dont think they have become short of yen quite yet he said
fees comprise 1 1 4 pct selling concession and 3 8 pct each for management and underwriting
this does not mean the gas bubble is gone nance said
non callable for five years the debt is rated caa by moodys investors service inc and b minus by standard and poors corp
say said its board of directors approved the units sale because omnilab was losing about 140000 dlrs a quarter
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
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
grain sorghum harvesting inched forward to between two and four pct of total planted area which this harvest is 123 to 130 mln hectares or 103 to 152 pct less than the 145 mln hectares planted in the 1985 86 harvest
the country had recently increased its capital suscription in the institution by about three mln dollars
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
tanzanian railways secure 256 mln dlrs aid
citizens financial group inc citno 3rd qtr
wichita presently has about 36 mln shares outstanding
the bonds will be listed in london and will be issued in denominations of 1000 stg
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
in a speech to the san francisco chamber of commerce clausen said he was absolutely convinced bankamerica would return to its position of preeminence
the bank of england said it forecast a shortage of around 700 mln stg in the money market today
the lme had to decide whether dealer convenience should take a higher priority over customer satisfaction industry delegates said
we have no intention of increasing the offer a company spokeswoman said
after the markets closed the dollar fell to 144 yen
the federal home mortgage corp announced the sale of 400 mln dlrs for residential mortgages to first union corps mortgage subsidiary
oilseed processing at the plant has been halted since december 19 when mill workers walked out in protest at new contract manning levels
year 1986 shr 3354p vs 342p
foreign brokers want to underwrite more government bonds due to their end investor appeal
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
shr loss 33 cts vs nil net loss 603430 vs profit 4295 revs 748628 vs 5730 note per share results give retroactive effect to one for 50 reverse stock split in march 1987 1986 loss includes recurring expenses of 317062 dlrs related to acquisitions and initial advertising campaigns
sec staff advises fraud charges against wppss
the company said it has redeemed about 273 mln dlrs in high cost debt during 1986 and hopes to redeem more debt this year
the offers by evergo and lai sun were for 53 dlrs a share though that is well below the current trading price
cabinet chief bernard prauge will lead the french delegation
bayerische vereinsbank sells warrants on bonds
two pct emerged vs 45 y a and 23 avg
marathon petroleum reduces crude postings
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
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
every country establishes laws to protect its interests
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
it said it retains 37 medfirst offices mostly in the chicago area
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
a drop in the dollar means uncertainty and gold is the traditional hedge against uncertainty ing noted
ferruzzi may float up to 49 pct of paris unit
lawyers for samjens contended that painewebber and ammeen withdrew as potential advisers because burlington chairman frank greenberg had called a painewebber executive and threatened legal action if painewebber got involved in an effort to takeover burlilgnton
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
the conversion premium is indicated to be 20 to 23 pct
shipping is now permitted on all parts of the west german section of the rhine with restrictions in some areas
they have everyones attention but it must be followed by a constructive plan he said
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
montreal based noverco inc told the securities and exchange commission it reduced its stake in sceptre resources ltd to 1232200 shares or 48 pct of the total outstanding
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
decoupling would end the current bias in us farm policy towards overproduction and reduce farmers dependency on the government he said
in a letter to shareholders appearing in the companys newly issued 1986 annual report coastal chairman oscar wyatt did not elaborate on how much earnings were expected to increase
in a statement the finance ministry said the process for formalizing the package was going as planned
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
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
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
under the pact california micro devices will design the chips and tachonics will manufacture them
the cbt originally had approved a yen bond futures contract in december 1986 but the sec rule precluded the application
the corporation has sought finance ministry permission to retain the entire oversubscribed amount brokers said
the notes have an 8 1 4 pct coupon and were priced at 99261 to yield 115 basis points more than comparable treasury securities
the kuwaitis have discussed the possibility of chartering us flag vessels with the maritime administration oakley 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
farm subsidies and protectionist moves threaten healthy trade on both sides of the atlantic michael jopling british minister of agriculture fisheries and food warned
in particular he told an american stock exchange conference a decline in the dollar below current levels would exacerbate financial market conditions
company officials could not be reached for comment on the causes of todays share rise
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
american capital management aca 3rd qtr net
redkin laboratories inc rdkn qtly dividend
cash market prices also firmed on the news with sellers of wti raising offers to 1960 dlrs a barrel
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
obviously currency risk is important
the profit scheme will begin after zenex has paid exxon an undisclosed purchase price for esso zenex chairman john truscott said in a statement
it said it will redeem all the debentures for 106050 dlrs plus accrued interest to the redemption date of march 30
the bank of england does not favour the introduction of rules to shield companies from hostile takeover attempts its governor robin leigh pemberton 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
out of this traders in west germany received 34750 tonnes in the uk 13000 in denmark 7250 tonnes and in france 4000 tonnes
joining schroders as underwriters are barclays bank plc citicorp international ltd paribas asia ltd sanwa international finance ltd and sumitomo finance asia ltd
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
aidc issues first australian dlr medium term notes
finance minister michael wilson is now reviewing canadas tax system and plans to announce tax reform proposals later this spring
it was a heaven sent opportunity cornelissen said of the dow financial acquisition
the bank of england said it had provided the money market with a further 15 mln stg assistance
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
it is secured with canadian government bonds
the facility is sometimes used by the central bank to set a local short term interest benchmark through fixing its bond repurchase rates
however he warned future financial pressure on the industry will be severe
foreign liabilities fell 100 mln to 229 billion giving a net currency reserves increase of 300 mln to 866 billion
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
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
prior quarter net includes 1000 dlr tax credit
the new forecast is 227 to 25 pct down on the official figure of 128 mln tonnes for last seasons production
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
piedmonts board was meeting today but the company declined to say what was on the agenda
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
crushing would commence at labasa and penang mills on june 23 and at lautoka and rarawai mills on june 30 he said
these stocks were equivalent to one quarter of ugandas expected three mln 60 kilo bag 1986 87 october september crop the sources said
the first boston corp drexel burnham lambert inc merrill lynch capital markets and prudential bache capital funding are the underwriters offering the stock said pennsylvania power
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
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
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
it also has reorganized management and focused its operations on businesses that would be less affected by foreign competition gormley said
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
deposits by non bank customers rose to 3381 billion dlrs against 3360 billion and 2802 billion
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
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
valley federal vfed splits stock two for one
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
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
crazy eddie crcyo wont oppose slate
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
if the crop can be drilled by the third week in april we will be delighted he said
canadian money supply m 1 rises 592 mln dlrs in week bank of canada said
but he added that he felt mhi could sell to those markets with japanese government financial support
the company had previously announced that a major us based company that it did not identify was evaluating its nicotine technology
the imperial government of china issued bonds in 1911 to help construct a section of the so called hukuang railroad in an agreement with british german french and american banks
photronic labs inc plab 1st qtr jan 31 net
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
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
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
boone pickens offered 15 dlrs a share for diamond shamrock and management countered with an offer at 17 dlrs and a decision to split off the refining and marketing operation to its shareholders
provision for loan losses in the third quarter was 20 mln dlrs versis 40 mln a year previously
harris cuts triad systems trsc stake to 18 pct
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
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
a bank of japan spokesman confirmed that the newspaper report was basically correct
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
average discount rate at uk bill tender 95195 pct
progressive is currently involved in a proposed merger with rainbow corp ltd rainbow earlier this week raised its stake in progressive to 52 pct
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
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
a viacom spokesman said the arsenal holdingss offer continues to include a 20 pct interest in arsenal for present viacom shareholders
the sources said the ratings were lowered to m from o plus
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
light scattered showers covered winter wheat areas in the north china plain in the week ended march 14 moistening topsoils for wheat just breaking dormancy in most central and northern areas the joint agricultural weather facility of the us agriculture and commerce departments said
full name circus circus enterprises inc
kasler corp kasl 1st qtr jan 31 net
another said the bank still has buying orders in the market
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
in last years third quarter software ag earned 1598000 dlrs
fundamental management chairman carl singer was recently elected to the robeson board
rochester telephone rtc completes acquisition
euratom ecu bond marks rome treaty anniversary
schleswig holstein issues 400 mln mark bond
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
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
ec commission defends oils and fats tax
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
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
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
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
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
the company said it has started a number of long term growth projects which have a payback period exceeding one year
final terms on the deals will be fixed on march 12
he will also will meet finance secretary jaime ongpin and trade and industry secretary jose concepcion
weve had a decline in activity as recent economic statistics have not greatly changed peoples viewpoints on interest rates mains said
united security financial corp of illinois said it has signed a letter of intent to buy robert co
the usda official said that as far as he knows there has been no further action on offering the soviet union wheat under the eep
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
weatherford international inc said it reached an agreement to restructure about 41 mln dlrs of debt held by bank and insurance company lenders
the banks 1986 balance shows paid up capital of 31 mln dinars
west german finance minister gerhard stoltenberg said the currency agreement reached in paris in february had been successful and would be continued
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
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
the economic daily newspaper said the high quality general will help chinas cigarettes enter the international market
1986 year net includes gains on sale of west los angeles real estate of 9903000 dlrs
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
he said imf repayments were projected to total 156 billion dlrs over the 1987 92 period and drawings only 236 mln dlrs
mcclain industries inc mccl 1st qtr dec 31 net
treasurys baker says floating exchange rate system needs greater stability
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
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
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
costco wholesale corp cost 2nd qtr feb 16 net
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
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
rogers expects the company to earn 750 dlrs a share in 1987 and 10 dlrs a share in 1988
energy futures now set the standard for oil pricing said arnold safer president of the energy futures group inc a consulting firm
varity also said it would seek shareholder approval at a special shareholders meeting on april 9 to authorize a transfer of values to the contributed surplus account on its balance sheet from the stated capital account for common shares
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
dai nippon to issue three domestic convertibles
eastman kodak issues australia dollar bond
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
housing medical and educations costs increased in january compared with a year earlier but the cost of utilities gasoline and vegetables fell
late in the day the deal was quoted at less 1 1 4 bid
the fork lift truck and hydraulic sector saw world group sales rising 124 pct to 152 billion marks and incoming orders gaining 80 pct to 157 billion marks
yugoslavia discusses commercial debt refinancing
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
the company said that following these sales pergamons ordinary shareholdings in both bpcc and hollis remained above 51 pct
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
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
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
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
lloyds bank plc lloyl said it is cutting its base lending rate to 105 pct from 11 pct effective tomorrow
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
the first phase was the supply of gas to households in and around the eastern oil town of kertih
it said holders of its common will receive one additional share for each share held as of march 20
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
scotts hospitality acquires capital food
the bank of canada acted to slow its currencys rise
pitney bowes credit corp a unit of pitney bowes inc is raising 100 mln dlrs through an offering of notes due 1992 with a 7 1 4 pct coupon and par pricing said lead manager goldman sachs and co
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
us imports of silver in december were 8458000 ounces vs 19950000 in november and 8840000 in december 1985
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
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
du pont co has increased its equity stake in perceptive systems inc to 335 pct from 20 pct perceptive systems said
du pont dd ups stake in perceptive systems
the loan supported program hopes to reduce the extensive public sector involvement in the countrys energy production and supply the bank said
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
its not unusual that someone could be looking at burlington after the housecleaning theyve done said eileen gormley of thomson mckinnon
most soybean processing plants are still in operation with little talk of taking temporary down time so far
helig meyers co hmy increases dividend
in new york noted
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 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
british banks resist signing mexico package seek more equitable contributions lloyds
rice planting is threatened in eight provinces it added
in the international area he said that our major trading partners could still do more to stimulate domestic growth commenting on japan which is running around a 80 billion dlr trade surplus with the united states yeutter said japan is just not doing the job on the import side yeutter declined to comment on statements relating to the dollar made earlier today by commerce dept undersecretary of economic affairs robert ortner
federated department stores inc ups qtly div by 105 pct sets 2 for 1 stock split
commercial paper outstanding nationally increased 298 billion dlrs to 33900 billion
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
applied solar energy corp solr 1st qtr net
tribune trb completes cable system sale
operating revenues 538 billion guilders vs 585 billion
argentine debt negotiator confident of accord
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
but opec would get through this period if members stuck together
note two for seven non renounceable rights issue of 80 pct five year subordinated convertible redeemable unsecured notes at 250 dlrs each
payment date is march 26
the company also plans to issue participation certificates with a par value of 70 mln swiss francs from which existing shareholders are excluded
it said preliminary figures show total sales of 258 mln dlrs up 30 pct from 198 mln dlrs in its 1985 fiscal year
the period saw an upward trend in yields although this was countered in the argentina the us and australia by lower acreages
he reaffirmed the us would press ahead with efforts to reduce its budget deficit resist protectionism and boost us competitiveness
panhandles pel trunkline reduces gas rates
officers on shearsons syndicate desk declined to comment
bryan ferguson c
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
ashland oil ash sees 2nd qtr oper loss
adsteam said its diverse industrial interests generally performed well and its results as the ultimate holding company and beneficiary reflected this solid performance
the commission also discussed the possible participation of spanish companies in the cuban tourist industry
swedish unemployment down as data is revised
we hope we can survive and prosper through diversification he said
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
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
the carrier said it will provide shorter door to door transit times more convenient cargo availability and better rail connections for traffic moving between puerto rico and north america
the initial dividend will be payable april 10 to shareholders of record march 31
equatorial communications equa to have losses
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 loss 17 cts vs loss 14 cts net loss 467000 vs loss 400000 revs 3856000 vs 3423000 avg shrs 2821000 vs 2797000
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 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
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
moodys investors service inc said it may downgrade duquesne light cos two billion dlrs of debt
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
pueblo international inc pii 4th qtr jan 31
doe recommends special unit to enrich uranium
in theory phelps is the best stock
amsterdam rotterdam bank nv is co lead and a number of dutch and british banks will complete the syndicate
it said it was confident the offer will be reviewed favourably
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
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
including the tax the one ounce coins traded today at 906 marks they said
it said oecd industrial production would rise by only 16 pct in 1987 after a weak 15 pct increase in 1986
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
the company said it will again seek buyers for the unit and its library of over 750 films
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
the company said the restatement also reflects a substantial increase in reserves of its principal subsidiary capitol bank and trust co
security pacific bought the arizona bank with assets of four billion dlrs in the fourth quarter of 1986
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
qtly div three cts vs three cts pay march 27 record march 16
dyecast alloy no
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
health and rehabilitation properties trust said it declared its initial dividend of 55 cts per share for the quarter ending march 31 1987
fw woolworth co 4th qtr shr 178 dlrs vs 164 dlrs
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
but ec agriculture commissioner frans andriessen told journalists he had warned ministers that failure to agree the tax proposed last month as part of the commissions annual farm price package would leave a large hole in the groups budget
dayton hudson corp 4th qtr oper shr 124 dlrs vs 155 dlrs
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
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
poehl warns against further dollar fall
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
digicon inc said it has completed the previously announced disposition of its computer systems division to an investment group led by rotan mosle incs rotan mosle technology partners ltd affiliate
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
interest is payable half yearly
need for bigger allied force in gulf played down
other arbitrageurs said both redstone and the management group led by president and chief executive terrence elkes were offering high prices
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
reichhold said each right will entitle shareholders to buy one one hundreth of a share of a newly created series of preferred stock at an initial exercise price of 120 dlrs with dividend and voting rights approximately equal to those of one share of the companys common stock
1 1986
cook united inc expects loss of 16 mln dlrs for fiscal 1987
victory markets vmkt sells debentures
the bank said among the other loans was one of 40 billion lire to ing c
much of the rise reflected quarterly interest payments
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
leutwiler was not involved with these talks and has not involved himself in the negotiations since last year the bankers said
the financing is the first of its kind for the company which makes luxury consumer products
plantronics inc plx 3rd qtr march 28 net
la electricidads problems stem from the governments december decision to set private debt payments at 750 bolivars per dollar instead of 43 company officials estimate that the currency change raised the debt to 467 billion bolivars from 267 billion
saab scania issues 150 mln dlr eurobond
the date on which the new rules will take effect has not been decided but delegates said they expected them to come into force early next week after which the buffer stock manager can begin buying or selling cocoa
baker said he opposed a stock transactions tax proposed by house speaker jim wright d tex or other special taxes
any intensification would make things worse it added
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
iraq oil minister qassem ahmed taqi replaced iraqi news agency reports
building was boosted by two factors last month unusually mild weather and low mortgage rates
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
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
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
he attributed the poor performance of brazils trade balance in 1986 to protectionist moves by industrialised countries the fall in the prices of basic goods and the crisis faced by several of brazils third world trade partners
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
a 52 pct negative currency influence was partially offset by growth in operations and by structural changes within the group
fip is a manufacturer of valves and other pressure pipe fittings in thermoplastics
an arbitrageur noted that dart controlled by chairman herbert h
the department of transportation had asked parties to submit statements by june 17 either supporting or opposing the acquisition
the company said it plans to open 12 locations in dallas by the end of 1987
in 1986 about 183 billion dlrs of new eurobonds were offered according to figures compiled by euromoney magazine
digicon dgc completes sale of unit
the previous high was 22583 contracts in december 1986
two days of talks between management and unions to try to end the 3 1 2 month labour dispute at cargill uk ltds oilseed crushing plant at seaforth ended yesterday without resolving the situation a company spokesman said
bank of canada made aggressive use of t bills
dealers said call money was soft because tax payments on behalf of customers had been less than expected so far
they said production was conditional on approval of a water license and arrangement of appropriate financing
and the paris currency accord last month has fostered hopes the rapid yen rise has come to the end they said
net profit before minorities 320 mln vs 268 mln making 960 mln vs 807 mln
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
the company said the loss is part of its previously announced restructuring that includes the sale of its foreign and domestic units
most retailers report their first quarter in the middle of may
above normal february temperatures over the north china plain caused winter grains to break dormancy early in the south
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
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
the company still planned to invest 700 mln guilders this year in restructuring and marketing heineken said
foreign exchange reserves at end june are projected at 680 mln dlrs compared with 105 mln in 1981 82 he said
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
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
earlier today wedge group which has a 55 pct stake said it held discussions with pesch american medical management and other american medical shareholders
standard and poors reduced chase manhattans senior debt to aa minus from aa subordinated debt to a plus from aa minus and preferred stock to a from a plus
zenith labs zen will report 4th qtr loss
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
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
ionics inc ion 4th qtr net
chemlawn claimed such purchases possibly violated the officers fiduciary duties and the securities and exchange commissions insider trading rules
us says no pact on relief for poorest states
tonka tka sees lower fiscal first quarter net
bank of japan intervenes in tokyo market
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
qtly div two cts vs two cts prior pay may 26 record april 21
use of soy products dropped 72 pct to 289 mln tonnes it added
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
the issue is guaranteed by mitsui bank ltd and final terms will be set on april 9
also excludes loss of 17 mln dlrs in current qtr from reversal of tax loss carryforwards
shr profit one ct vs loss one ct net profit 150594 vs loss 55352 revs 190 mln vs 124 mln
nippon steel denies china seeking japanese plants
kobeya baking has swiss franc private placement
saudi arabia cut lpg shipments to japan and elsewhere by 20 pct in september after a fire put a major gas plant at al juaimah out of operation
laroche drops condition to neco npt offer
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
morgan guaranty jpm sues metromedia for notes
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
a return to growth and stability did not require spectacular central bank moves but could be done quietly with open market operations and repurchase pacts which would avoid an interest rate rise by dampening inflationary expectations
we didnt come here to make a cash flow programme he said we will have meetings at the imf next month lets see what happens neither did brazil plan a major overhaul of current domestic economic policies which funaro said would likely lead to a five pct economic growth this year
for the first quarter of 1986 the company reported net income of 875000 dlrs on sales of 660 mln dlrs
in addition the board allocated 375000 dlrs in use in pork the other white meat campaign according to a pork board spokesperson
gulf applied gats sells units sees gain
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
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
ultrasystems inc uls 4th qtr jan 31 net
measurex mx sells south african unit
it said iraqi exports are about 10 mln bpd through the turkish pipeline 01 02 mln by truck through jordan and 02 03 mln via the saudi pipeline to yanbu
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
the offer between march 25 and april 13 is the second stage of a capital restructuring plan announced in december under which tenneco will become poclains majority shareholder
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
but that estimation could go to a 180 dlrs easily due to purity supreme in new england comeau said
now theres a growing number of new products in an environment of increasing competition for performance on fund management smithson said
for chairman don johnston the payment was limited to twice his annual compensation
overland also said it negotiated a 3000000 dlr interim credit agreement with its majority owner continental training services inc
oppenheimer raises nwa nwa earnings estimate
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
soviet exports also increased in 1986
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
brooklyn union gas co bu sets payout
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
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
the company reported a loss from continuing operations of 25 mln dlrs for the year against a 1985 profit of 12 mln dlrs
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
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
kontrollbank issues 150 mln mark private eurobond
extraordinary earnings 7747 mln vs 4628 mln
autoclave engineers inc aclv qtly dividend
canterra will operate the well and has a 39 pct interest in it
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
uk money market given further 437 mln stg help
the previous record low was 3383 pct at the last auction on february 12
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
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
ccc accepts bid for dairy cattle to kuwait
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
the pipeline will run about 170 200 kms 105 125 miles from shabwa oilfields to a coastal terminal at bir ali on the gulf of aden mees said
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
the spectacular improvement in the budget deficit had also attracted little attention he said
citicorp is the leading us bank credit card issuer with some 10 mln accounts and an 11 pct market share
talking point ibm ibm 
there was no immediate sign of italian or canadian officials
kidder peabody and co inc has been retained to advise on the alternatives harper and row added
bell and howell bhw completes sale of unit
the opec president praised non opec oil producers which he said had contributed to the groups efforts to stabilise prices but he criticised britain for maintaining its long held view not to do anything to help the market
gas reserves also eased to 3568 billion cubic feet from a restated 3660 billion
further declines in us debt futures possible
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
japanese oil companies are starting campaigns to market 100 octane gasoline to meet growing domestic demand for higher quality motor fuel oil sources said
rogers corp said its board approved a shareholder rights plan designed to protect its shareholders in the event of an attempted hostile takeover
uk money market given 115 mln stg assistance
morgan jpm says brazil nonaccruals may rise
output of manufacturing industries fell a provisional 23 pct in january after a 02 pct rise last december
investors have 129 pct of exovir xovr 
normally wheat harvesting is well underwaty in central india and just beginnning to the north ending in most areas by late april
the warrants entitle holders to subscribe for a maximum of 10 mln free shares
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
the amendment also increases the cash consideration to be offered on lifestyles 13 pct convertible subordinated debentures from 55 pct of the principal amount to 575 pct
the chicago board of trade cbt achieved record volume in trading of 10 year us treasury note futures options april 10
all legitimate debt is a commitment of honour the president said during a visit to the quake zone
the creditors strategy spelled out by us treasury secretary james baker in october 1985 is to spur additional lending by private banks and multilateral development banks in return for economic reforms
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
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
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
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
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
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
norwegian companies landed operatorships on all six blocks opened in the barents sea area off northern norway
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 talks have been going on for more than three weeks
as soon as they need corn theyll buy it he added
the exchange said it contacted the company and asked if there were any corporate developments to explain the unusual activity
soviet and us officials normally meet in the summer before the start of a new agreement year to discuss grain quality shipping logistics and production outlooks
the investigations will hurt the companys ability to obtain funding it said
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
burlington bni unit settles bondholder suit
speculative demand which influences the gold price on futures markets has also risen
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
house and senate negotiators are ironing out differences in trade bills passed by both chambers
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
qtly div 25 cts vs 25 cts previously pay april 17 record march 30
fees comprise 1 1 2 pct selling concession and one pct management and underwriting combined
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
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
fed sets 15 billion dlr customer repurchase fed says
may currency reserves out today showed a record 48 billion stg rise pointing to massive currency intervention
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 council session will be chaired instead by icco vice chairman sir denis henry the delegate from grenada icco officials said
the official mti news agency said the government decided consumer price subsidies had to be cut to reduce state spending
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
several dealers said the central bank intervened this afternoon when the dollar stood around 149 yen
with other costs this means a price in pakistani markets of between 230 and 250 rupees per kilo
acme precision products inc said it set its annual meeting for may 14 for shareholders to vote on the proposed management led leveraged buyout of the company
there was a lot of interest in direct investment via an equity participation in latin america particularly from west german firms
this was in the hope of resolving the row before the next council meeting on april 15
dunhill holdings arranges 50 mln dlr stg program
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
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
delegates earlier thought the meeting would end tonight but a further session is scheduled tomorrow at 1030 gmt to complete reports on stock verification
alcan said it has developed and tested the aluminum structure technology so that it is suitable for modern auto making methods and plants
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
one of the rival firms international telecom japan inc itj has offered a stake in the company to eight us firms including general electric co ge ford motor co f and citibank na cci and two european companies itj president nobuo ito said yesterday
parts replaced by independent repair shops and containing the coded warranty label will be tested by chrysler dealers to ensure authenticity
jp morgan and co inc 1st qtr shr 122 dlrs vs 128 dlrs
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
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
neither seemed that concerned about the bottom line said bradley
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
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
oakleaf had 1986 sales of about 26 mln dlrs
brazil business leaders call for talks with imf
it did not say what the minimum will be
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
mail boxes etc mail 3rd qtr jan 31 net
gold analysts said the eagle is facing competition here from the canadian maple leaf and also to a lesser extent from the south african krugerrand
the companys other major subsidiaries are pet inc pepsi cola general bottlers midas international corp and hussmann corp
bombay palace restaurants inc with its emphasis on location and low food costs expects its 1987 sales to increase 150 pct to about 22 mln dlrs from about 85 mln dlrs in 1986 according to president sant s
the bank said it would publish full final figures on march 30
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
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
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
the bonds are non callable and payment is april 29
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
webcor electronics inc said its principal creditor its bank has demanded payment of all webcor obligations to it
as of october 31 the copmpany said it had a working capital deficit of 2301000 dlrs on a pro forma basis to include recently acquired us medical enterprises inc
scimed life systems inc said advanced cardiovascular systems inc is suing it for patent infringement
january sales totalled 207 mln tonnes against 259 mln in december and 204 mln a year earlier while end month stocks were 233003 tonnes against 230764 and 241567
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
asahan reported total losses of 976 billion rupiah between 1982 and 1985
nance predicted that by 1990 the organization of producing and exporting countries would be producing at the rate of 80 pct of capacity
hokkaido bank issues 30 mln dlr convertible bond
qtly div 4 1 2 cts vs 4 1 2 cts prior pay april 15 record march 24
cvgs three aluminum companies also showed substantial gains
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
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
caesars world board approves recapitalization
taken together the four american led warrant issues raised only about 50 mln swiss francs
southern union sug to sell notes debentures
national business loan data are scheduled to be released on friday
the white house said a proposal for a tax break for the oil industry would undergo review
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 series a and b preferred shares carry no vote while dividends are paid
it said a final deal is expected in mid april
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
asked by the newspaper bild am sonntag if lower interest rates could boost the domestic economy poehl said we would be badly advised if we forced further interest rate cuts
rooters stock for four dlrs a share
prime computer inc prm 3rd qtr sept 28
no total price was given but the company said the proceeds of the sales would be used to fund pergamons expansion programme and worldwide acquisition stategy
balladur urges g 7 to respect louvre accord
taunton savings bank tsbko 3rd qtr net
the usda probably will accept about 80 to 90 pct of the acres submitted they said
the underlying reserves increase is net of borrowings and repayments
at 1200 gmt sterlings trade weighted index was up 06 at 727
kirschner kmdc completes purchase
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
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
meanwhile the dispute over a new work practice agreement in the ports grain sector continued with 30 maintenance workers on strike although loading was not affected a spokesman for graan elevator mij the largest employer in the sector said
wilson said they will meet before the june economic summit to prepare a report for the leaders of the seven nations
former empire of carolina emp exec sentenced
bat shares undervalued say stock market analysts
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
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
rothmans denies share sale speculation
the sixth is in canada
details of rates on transactions under 30 mln yen have yet to be worked out an exchange spokesman said
it said the distribution is payable march 27 to shareholders of record march 13
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
there is no problem in financing it the prepayments constitute about 15 pct of current international reserves of 25 billion dlrs he said
efi is a medium term credit institution about 36 1 2 pct owned by banca nazionale del lavoro
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
unfortunately successful adjustment to australias deep seated economic problems remains a long term process it said
nichols said he did not know the identity of the other bidders or the terms of other offers
caesars world is expected to seek a friendly suitor restructure operations or buy back sosnoffs holdings in an attempt to fight off the bid
texas american said regulatory approval ofthe transaction is expected in december and the sale will close shortly thereafter
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
volcker says exchange rate adjustment enough to narrow us trade deficit
chubb said the transaction was valued at 911 dlrs a share based on the closing price of its stock on march 30
canada sets grant for eureka research
these agencies included the office of management and budget and the departments of interior and commerce he said
norway central bank sells crowns to ease pressure
this provision is designed to protect us companies from the unauthorized use of us designs in foreign products
us justice department reviews icahn usair filing
northwestern national life nwnl ups payout
around a third of any new sale of us treasury bonds has been bought by the japanese
any decision in principle to set up relations would require approval by the communitys council of ministers and by the executive committee of comecon
it said the additional shares will be distributed june five record may 21
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
townson declined to specify when the talks might end
lance inc lnce 1st qtr net
us leading indicators rose 07 pct in feb after revised 05 pct jan fall
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
among other measures the ipma also decided that the criteria for membership should be tightened to exclude some of the smaller firms
trade body sets new rules for eurodollar managers
cra sold forrest gold for 76 mln dlrs whim creek
the strict controls will require proof that large remittances to taiwan are connected to commercial transactions rather than currency speculation
shr four cts vs two cts net 240902 vs 106054 revs 3408481 vs 2566769
continental said the 586 mln dlrs of existing outstanding preferred shares will be paid off at par plus accrued dividends
kahn also said he is seeking an examination of the trans lux shareholder list and corporate books and records under delaware law
one below 50 pct implies a declining economy
sri lanka plans to renew abu dhabi oil contract
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
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
it said on hand in dealer inventory and for immediate delivery were 35000 of the two models
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
i believe it will take three to six months maybe longer for an arrangement to be worked out to reschedule brazils debt swearingen told reporters at a press briefing
under the new accord the contingency buffer stock will be brought in at 152 cts to defend the floor price
fleets acquisition of norstar is now expected to be completed around july 1 1988 when a change in laws in fleets home state of rhode island allowing interstate banking outside new england will go into effect
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
1985 net both periods excludes 168000 dlr loss from discontinued operations
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
ibc details plans to pay creditors
european community ec industry ministers agreed on a plan for voluntary steel plant closures drawn up by industry lobby group eurofer and calculated to lead to the loss of about 22000 jobs
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
africa loans
the spokesman said exchange rates were made by the market not the central bank and it would be impossible to influence individual parities separately
the european currencies are moving back up against the yen
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
an australian diplomat said citic was eager to pursue south korean markets
the federal reserve is expected to enter the government securities market to add reserves via customer repurchase agreements economists said
the publication expects total malaysian output during jan sept 1987 to decline by eight pct to 305 mln tonnes
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
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
anova describes itself as a publishing and financial services firm specializing in arranging revers acquisitions and mergers between blind pools shells and private companies
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
the five week period is the normal delay between sugar going into intervention and payment being made for it
the underwriting fee is 10 basis points bt asia said
the deal is subject to completion of a definitive merger agreement receipt of third party approvals and other conditions the company said
delta said it expects sales of about 30 mln dlrs for the year ending in april
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 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
canrad said the acquisition is expected to increase its annual revenues by about 10 mln dlrs
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
shr 29 cts vs not given net 3508000 vs 2483000 note company went public in august 1986
national fsi inc nfsi 4th qtr loss
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
at the end of fiscal 1981 when reagan took office bad debt stood at 298 billion dlrs or 123 pct of total debt
the land it is giving up amounts to about seven acrease and includes part of the reading terminal train shed it said
toronto dominion bank cuts prime rate to 8 3 4 pct from 9 1 4 pct tomorrow
american express stock got a lift from the rumor as the market calculated a partially public shearson may command a good market value thereby boosting the total value of american express
great country bank gcbko year may 31 net
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
miyazawa says us likely to intervene
safeway put its stake up for tender just in time to take advantage of changes in us tax laws effective from the end of december informed sources said
1987 qtr and nine mths also includes charge of 835000 dlrs for the early extinguishment of debt net of tax benefit
again it seems that cocoa delivered earlier on consignment was included in the arrivals figures
number of shrs outstanding at sept 30 1987 was 16744
trade sources said the weather up to now could be irrelevant if there is good rainfall in coming weeks
investors will pay for the bond on april 8 and the bond pays annual interest on the same day
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
this divestiture is part of alleghenys overall restructuring program and strategy to concentrate primarily on its north american consumer products business the company said
ltd of seoul for a steel works in pohang south korea
de groote said the increased earnings in the previous four quarters was due partly to internal growth of about 15 pct
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
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
the rating agency also assigned a b 3 rating to the partnerships proposed issue of cumulative convertible acquisition preferred units series a
lamson and sessions co said it has decided to discontinue operations of youngstown steel door a maker of components and equipment for railroad freight cars
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
china says possible good harvest despite drought
harper said the board has previously expressed a strong determination to remain an independent publishing enterprise
its first chairman was joseph kennedy an industrial magnate who was also the father of john kennedy later to become the nations 35th president
gunze sangyo issuing 25 mln swiss franc notes
oil minister arne oeien said last month he expected norway would extend into 1988 its policy of slowed production growth
dividend pay may five record april 13
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
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
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
since then they have stepped up purchases of foreign stocks and sought to deepen their understandng of foreign markets and instruments
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
technically as long as that block was overhanging the market you didnt know what was going to happen he said
lego senior executive vice president told the analysts our plans do not call for a multibillion dlr acquisition even though our balance sheet can handle one
asamera said its talks with breakwater resources ltd bwrlf on a possible merger of mining interests including the cannon mine have been terminated
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
of nine satellite television channels operated by viacom four are motion picture oriented pay channels
revenues were 37 mln dlrs
in its annual report pemex said average crude output in 1986 was 243 mln barrels per day 202000 bpd down on 1985
canada 91 day t bills average 680 pct making bank rate 705 pct
the governments net financing requirement was 110 pct of gnp in 1986
abroad the circle of problem debtor countries rose last year although the ratio of credit exposure to provisions improved further
combining long and short term capital outflows west germany recorded a net outflow of 753 billion marks in february against a net inflow of 1191 billion in january
the offers will have a minimum acceptance period of 10 calendar days the mint said
corrected mobil mob to upgrade refinery unit
this total includes shares issuable upon conversion of piedmont preferred usair noted
the program allows the danish bank to issue euro certificates of deposit with maturities of up to 365 days
standard and poors corp said it affirmed the ratings on 600 mln dlrs of debt of resorts international inc and resorts international financing inc
irt property launches debenture in euromarket
it said the overseas operations lost 400000 dlrs in the second quarter and did not appear strong enough to provide for future growth
due to late plantings only about 20 pct of the corn crop crop has been harvested
moodys said the company has lowered its financial leverage as well as its dependence on the retail sale of encyclopedias
as long as opec maintains its output curbs demand for its oil will rise in april and may sheikh ali said adding that kuwait was strongly committed to its opec quota
you cant expect to get very far at the first meeting one banker said
any excess proceeds will be added to working capital the company said
network systems corp nscoo 3rd qtr net
an additional 76300 tonnes of barley malt are still available to nigeria under the export enhancement program initiative announced december 10 1986 it said
domes encor shares had a market value of 313 mln dlrs on march 17 1987 the companys filing said
the company was producing at full capacity in 1986
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
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
analyst craig sloane said european currencies will likely move to the higher end of their 1987 ranges after todays sharp advance
stormy weather to disrupt north sea shipping
in february 1986 there was a deficit of 264 mln dlrs
hudsons bay also said its markborough properties subsidiary had an operating profit of 1086 mln dlrs up from 988 mln dlrs the year before
mfn doesnt really mean anything only that poland will not be treated worse than other countries
ec ministers announce plan for steel closures
morgan guaranty said there is about 30 mln dlrs principal outstanding
and preliminary us data show that the growth trend is continuing
the company said the modernization will allow the unit to regenerate catalysts on a continuous basis without shutdown
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
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
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
a 15 year convertible bond for rowntree mackintosh plc has been increased to 69 mln stg from the original 55 mln and the coupon set at 4 1 2 pct against an indicated 4 1 2 to 4 3 4 pct lead manager j
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
net dividend 25 francs vs 20 francs
dean foods co df raises dividend
last years maize harvest totalled 128 mln tonnes according to official figures
american express said it had agreed with nippon life that american express will hold a minimum of 40 pct of shearson until january 1999
italys la fondiaria to report higher 1986 profits
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
total gross official sales of gilt edged stock were 119 billion stg in 1985 86
completion date of the new mill was undisclosed
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
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
however it was impossible for them to follow the last cut to 58 pct from 62 pct on january 28 because the trust fund bureau rate was legally set at 605 pct
it can be presumed that the braking actions on the economy will diminish markedly this year they added the domestic prerequisites for a continuation of the economic uptrend are still favourable these three institutes said diminishing external burdens combined with favourable domestic conditions meant an upturn in demand and production could be expected by the spring
representatives of atlantic richfield british petroleum conoco and amoco were not immediately available for comment
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
gaviria stressed that colombia will not necessarily suffer from depressed prices because it can compensate lower prices with increased volume
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
terms and conditions of the contract would be subject to approval of various regulatory bodies including the us bankruptcy court
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
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
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
in january completions of single family units rose 04 pct to a seasonally adjusted 1183 mln units from 1178 mln units in december while multi family units fell 13 pct to 701000 units in january the department said
the company is more concerned than ever about improving their relative valuation with respect to ford and chrysler he said
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
cpc cpc sees 1987 higher earnings per share
us commerce secretary malcolm baldrige has asked the white house to consider blocking the sale of fairchild semiconductor corp to japans fujitsu ltd itsut us officials said yesterday
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
usda accepts bid for bonus wheat to algeria
the bank of england said it revised down its estimate of the deficit in the system today to 400 mln stg from 450 mln
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
tribune trb scripps scrp exchange papers
a w brands sodao completes acquisition
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
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
imf approves development aid for jamaica
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
banks must make their bids by 1400 gmt today and funds allocated will be credited to accounts tomorrow
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
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
security capital corp said it has suspended quarterly cash dividend payments indefinitely
bmc industries inc bmc 4th qtr loss
jacobs suchard sees 100000 tonne cocoa surplus
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
transit financial sees 1987 share profit rise
haerri said despite the losses the companys liquidity was strong
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
noranda buys shares of sanivan group
magma raises copper price 050 ct to 6600 cts
exports in january totalled 123000 bpd
outboard marine today was trading at 33 5 8 down 5 8
no changes were made in unions posted prices for west coast grades of crude oil the company said
but the us embassy replied that chinese figures showing 13 years of trade deficits with the us out of the last 15 are inaccurate and said peking itself would have to persuade congress to change laws which limit its exports
qtly div three cts vs three cts prior pay may 20 record april 20
he said opec had expected to see some fluctuations in the spot price
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
it will be repayable in semi annual instalments starting after six years
american brands had to make an acquisition because tobacco is still a significant part of earnings
j and j snack foods corp initial public offering of 25 mln dlrs of convertible subordinated debentures due april 1 2012
qtly div from income 51 cts vs 3035 dlrs in prior qtr including capital gains of 2978 dlrs payable march 27 record february 27
sign up for spring crops closes the end of this month
washington has threatened to scuttle a 20 25 billion dlr four year capital replenishment for the bank if the veto issue is not resolved
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
the index was down 71 pct from a year earlier
tele communications tcoma sells cable systems
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
carter wallace inc car sets regular payout
period ended february 28
masco corp mas regular dividend set
the bid remains subject to regulatory approvals and the arrangement of financing
sierracin corp ser 4th qtr net
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
there certainly is evidence in that direction he replied
he said if exchange rates stabilize nissan will have a strong profit recovery in fiscal 1988 and profits for fiscal 1989 better than those before the yen started advancing
it said atomika will became a part of its physical electronics division based in eden prairie minn the division is part of its materials surface technology group
we have to look at things that others might do he said
the plan calls for providing soft loans tax cuts and other fiscal benefits to exporters and raising spains presence in international trade fairs
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
papua new guinea png provides the most exciting new prospect in the asia pacific region for oil production energy analyst fereidun fesharaki said here
german banks say uncertainty about economy growing
it said the cash proceeds will be used to lower its debt costs
more
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
the trail smelter about 400 miles east of vancouver produced 240000 long tons of zinc and 110000 long tons of lead last year
henderson also said that ici has about nine billion dlrs available for acquisitions
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
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
dome pete dmp takes 208 billion dlr writedown
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
interconnect capital said it seeks to acquire gates learjet corp on friendly terms
the non binding senate resolution a sense of senate sentiment was approved on a 99 to 0 vote
we are making efforts to eliminate them with the help of balanced interest from all parties he said
he said the company would use much of the income from the amusement park chain were it to be sold to repay debt
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
alcoa aa to sell american powdered metals
us treasurys baker says bank loans too slow
the group had said it would consider breaking up allegis into its airline hotel and vehicle rental components if it succeeded
the shipment priced at 21034 us dlrs per tonne c and f taiwan is set for delivery between march 20 and april 5 he said
the bond is available in denominations of 25000 dlrs and will be listed in luxembourg
nz ports reopen but further disruption likely
however rates of inflation will edge up in 1988 to over the current oecd average of three pct
uk money market given further 485 mln stg help
diana corp dna year march 28 oper net
pricing will take place on april 1 and the exercise period is between may 18 1987 and april 15 1992
some of domes group of 56 major creditors might move to block such a sale arguing they have a claim on company assets
the changes effective today included reducing commercial bank lending rates that have ranged between 15 pct and 175 pct by one percentage point
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 split will be effected by one additional share for each common share held the company said
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
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
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
the two sides will meet again on friday
earlier the company said it expected earnings per share from continuing operations to be 35 to 45 cts a share
mas said in its latest monthly statistical bulletin the december increase was largely due to seasonal year end demand
there is no political motivation
moodys cuts baker bko upgrades hughes ht 
the threat of a stoppage by oil industry employees appeared today to be receding
us facilities usre semi annual dividend
unadjusted female unemployment rose 100000 to 790000
enzo biochem inc enzo 2nd qtr jan 31 net
cellular communications inc said that a unit purchased a 699 pct interest in the cincinnati non wireline cellular system
dnc international finance a s is issuing a 19 billion yen zero coupon eurobond due march 17 1992 and priced at 809 pct lead manager daiwa europe ltd said
mitsubishi bank plans 300 mln hk dlr cd facility
analysts ranging from the liberal cdi to conservatives agreed the us reaction was measured reasonable and did not escalate the conflict unduly
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
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
the bank of england said it forecast a shortage of around 800 mln stg in the money market today
yields range from 620 to 7 3 4 pct
inco sees no major impact from dow removal
the notes in one mln schilling denominations may not be offered in austria britain or the united states
tseng tsng sees sales increase first qtr 1987
investment firm ups france fund frn stake
obviously we will be considering further industrial action union secretary ross wilson said in a radio interview
the country has swallowed a time bomb and it will go off when times get tough zimmerman said
ausimont compo aus sells unit
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
the minister also was quoted as saying he expects major nations to take coordinated action to ensure exchange rate stability
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
norways oil production rose 10 pct to an average of around 840000 bpd in 1986
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
but the analyst said uccel was worth the premium because of its earnings potential and customer base
the company is cooperating in the commissions investigation which is continuing and now includes the taking of testimony of employes and others allegheny said
ny traders say ec sold 71000 tonnes of white sugar at tender
but he said that any response would be in accordance with international law and japans international obligations
frances cna issues three billion franc bond
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
treasury balances at fed rose on march 6
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
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
gorman rupp co grc sets quarterly
this compares with the banks estimate of the shortage in the system of 750 mln stg earlier revised up from 700 mln
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
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
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
china has signed 36 oil contracts and agreements with 37 companies from 10 countries since 1979 when offshore exploration was open to foreigners
there is a selling concession of 1 1 4 pct and a combined management and underwriting fee of 5 8 pct
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
at the height of domes success in 1981 common traded at about 25 dlrs a share
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
us officials said it has been willing to study individual cases for economically sound market oriented commodity accords balancing producer and consumer interests
the remaining 50 pct of winter wheat crops do not have snow cover making winterkill possible on each of the next two nights
maxicare said the terms would not be in the best interests of the heatlh care providers who have built the alabama hmo
automobile dealerships have become large multi store operations and the largest sell more than 1 billion dlrs a year worth of vehicles a year
last week foreign ministers of the 12 ec nations agreed to impose tariffs on a range of unspecified japanese electrical goods unless tokyo opened its markets more to ec exports
ministers from more than 20 nations were told by new zealand that the next international negotiations on liberalising trade would be the last this century and the cost of failure could not be measured
payment date is also may 15
algeria buys 75000 tonnes eep wheat trade
british petroleum raises north sea butane prices by 1550 dlrs a tonne today
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
cooper cbe asks ftc to end acquisition limits
providence energy corp pvy regular dividend
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
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
bilzerian told he believes his offer is superior to a leveraged buyout proposal disclosed in an announcement by the company this morning
reduced were the companys 10 3 4 pct senior subordinated debentures of 1998 to caa from b 3
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
for its part washington warned iran again on tuesday that it was ready for any further hostile action
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
clark copy said worldwide sales for datagraph which makes color graphics workstations were 10 mln dlrs for the year ended dec
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
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
initials said it expects to turn profitable some time in 1988 and sees sales of 100 mln dlrs annually by the end of 1989
call money today was quoted at 7 11 16 7 3 4 pct
grain ships waiting at new orleans
ec agrees reduction of diesel exhaust emissions
as far as we know they did abandon the site he said
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
small quantity of uk wheat sold to home market
has resigned from the 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
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
prior year net includes gain 6600000 dlrs on sale of boston store division
fourth quarter 1986 includes reserve of nine mln dlrs for operations company plans to sell
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
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
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
cooperative energy development corp said two exploratory oil wells in the zama area of alberta tested 1020 and 950 barrels a day and will increase the companys daily oil production by 30 pct
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
the series nn bonds will serve as collateral to princetons equal sized pollution control bond issue that are expected to have the same interest rate
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
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
some trade sources said recent speculation has been that last years soviet grain crop be revised to only 190 mln tonnes rather than the 210 mln announced therby increasing the soviet need for grain
global raised 25 pct fuel oil by 45 cts to 1945 dlrs a barrel
group raises nash finch nafco stake
exports in 1985 86 were 467 mln bags
allisons place inc president marvin schenker said company owned stores sales for february increased 82 pct over the same period last year
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 issue is guaranteed by general motors acceptance corp
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
1986 quarter net includes 212000 dlr tax credit
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 split will be effected by a 50 pct stock dividend for shareholders of record march 23 to be distributed on april six
his remarks were concerned with a comprehensive economic stimulative package the government plans to adopt in the coming days
the ban imposed a week ago over a pay claim had prevented the movement in or out of port of nearly 20 vessels they said
the bond guaranteed by parent general motors acceptance corp is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
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
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
in one bizarre dispute in january sarney surprised brazilian business leaders by declaring that they were allies of the 19th century anarchist mikhail bakunin
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
property trust of america ptras year net
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
shr profit 18 cts vs loss 21 cts net profit 766000 vs loss 510000 sales 324 mln vs 255 mln year shr profit 71 cts vs loss 23 cts net profit 2337000 vs loss 747000 sales 1321 mln vs 1196 mln note prior year results pro forma for acquisition of c and d power systems divisions of allied signal inc ald
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
bank of japan intervenes to support dollar after tokyo opening dealers
the road to dignity has no return said a document issued by the pmdb
the federal home loan bank board adjusted the rates on its short term discount notes as follows maturity new rate old rate maturity 30 140 days 500 pct 500 pct 30 179 days 141 160 days 613 pct 608 pct 180 200 days 161 182 days 500 pct 500 pct 201 274 days 183 200 days 617 pct 618 pct 275 290 days 201 360 days 500 pct 500 pct 291 360 days
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
instead they will be paid in an equivalent amount of zero coupon westpac perpetual floating rate notes
an earlier estimate from nine month data put full year gnp and gdp growth both at 79 pct
axlon axln names co chief executive officer
if the australians had come a little bit earlier they might have had more luck i think holden brown said
unitel video shareholder proposes possible sale or liquidation of company
arco said it is reviewing options for commercialization of the technology
the issue price represents a premium of 657 pct over the stocks closing price of 653 yen
tultex ttx increases dividend
the company named drexel burnham lambert inc as sole underwriter of the offering
results for tel aviv israel based company translated at rate of one dlr to 1485 new israeli shekels
austria makes two billion schilling note issue
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 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
each unit of beneficial interest in the trust will be allocated 0051675 shares of ual common stock
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
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
us housing starts rose 26 pct in february
in addition avalon said three other directors resigned
south koreas m 2 money supply fell two pct to 334634 billion won in march from 340303 billion in february provisional bank of korea figures show
1987 nine mths net includes a loss of 566 mln dlrs or 226 dlrs a share for discontinued operations
bower industries inc 1st qtr net
zambia cuts prices as troops patrol copperbelt
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
we wish to reach a reasonable agreement with bolivia so that the country can experience a significant financial respite weizsaecker said
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 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
on a fully diluted basis this was 111 dlrs vs 67 cts and 242 dlrs vs 158 dlrs respectively based on 330 mln vs 323 mln shares outstanding in quarter and 328 mln vs 321 mln in year 1986 results in both periods include pre tax losses pf 22 mln dlr on sale of john wanamaker and 250 mln dlrs related to recapitalization for a combined primary per share charge of 158 dlrs in quarter and 157 dlrs in year
there were no reports of actual damage
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
this means limiting sales is more difficult than in major west african producers where sales are made or authorized by commodity marketing boards
the atpc would have produced and exported an estimated 106000 tonnes of tin in 1987 without the plan
because the dow chemical notes carried an interest rate floor of 17 pct the issue saw strong investor demand underwriters said
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
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
allied stores corp a subsidiary of campeau corp was acquired by acquired by the canadian developer last year
prices for flat rolled steel sheet used in automobiles appliances and other products vary widely between about 350 and 800 dlrs a ton
ual said donald trump was interested in ual stock as investment
it also gives him authority to decide whether foreign trade practices are unfair and violate us trading rights
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
it said the restructuring as a partnership has substantially increased the cash available for distribution to unitholders as it had predicted
the second cnsecutive week of dry weather stressed moroccan winter grains approaching teh heading stage the agency said
but nakasone still has a chance to soothe us tempers before or during his week long washington visit from april 29 some analysts said
in the first fiscal quarter this year the company lost 1350387 dlrs or one ct per share on sales of 3570585 dlrs
total common stock equivalents are 10763507
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
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
however in its paper the bank suggested that any conditions applied for the first few auctions may be abandoned or modified in future sales of gilts if they prove inefficient or unwieldy
smith kline said that depending on its share price and the cost of money it may buy back more shares
upjohn currently carries aa 3 senior unsecured long term debt and industrial revenue bonds
this would require banks in turn to cease accruing interest and set aside expensive loan loss reserves
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
were running out of special factors to keep the economy afloat said philip braverman of irving securities corp
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
bat shares were down at 524p in late afternoon trading after a previous 535p close
taiwans foreign exchange reserves now stood at 50 billion us dlrs due to its 1986 record trade surplus of 156 billion
shr 155 dlrs vs 70 cts net 3409000 vs 1455000 rev 541 mln vs 453 mln nine months shr 160 dlrs vs 10 cts net 3517000 vs 211000 rev 1444 mln vs 1270 mln note qtr net includes extraordinary gain of 12 mln dlrs versus 155000 dlrs for fiscal 1986s third quarter and a non recurring pre tax gain of 720000 dlrs
the 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
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
he is due back in brasilia next wednesday march 11 the sources added
last week borrowings totalled 1775 billion marks including a 300 mln mark private placement for deutsche bank
agriculture would also benefit from more rapid decisions in complaints of unfair foreign trade practices or injury from imports
irt property irt may sell convertible debt
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
prices are now around 18 dlrs
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
texas oil regulator calls for state tax breaks
there are only two companies that count in the marine leisure business brunswick corp bc being the first
police say the death appears to have been suicide
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
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 bank said in a consultative document published in february that possibly two or three experimental auctions might each raise between one to 1 1 2 billion stg
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
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
mulford told congress last week the paris accord called in effect for currency stability for several months
invisibles in february were put provisionally at a 600 mln surplus the same as in january
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
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
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
through friday stock prices as measured by the dow jones industrial average surged 1913 pct in 1987
santa fe energy partners sfp 3rd qtr loss
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
a renewal of exploration in high cost areas of the north sea and the us requires prices of around 25 dlrs a barrel
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
american national now owns nine banks
bsi is a privately held canadian company involved in actuarial employee and executive benefits consulting and administration
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 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
van dorn co vdc 4th qtr net
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 remaining 200 billion yen will yield 39994 pct in a 39 day repurchase pact maturing on april 14 they said
they said the shares would be purchased by the asoriano group of companies smc neptunia and unnamed institutional investors
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
ussr wheat bonus offer said still under debate
shr 95 cts vs 87 cts net 516 mln vs 473 mln revs 139 billion vs 126 billion nine mths shr 227 dlrs vs 193 dlrs net 1235 mln vs 1046 mln revs 392 billion vs 353 billion
john labatt ltd 3rd qtr jan 31 net
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
the philippines earned 488 mln dlrs from coconut products in 1986 up from 477 mln in 1985 ucap figures show
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
the non callable bonds will be issued in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
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
in order to make that strategy work they citicorp have to have the support of the other banks said meredith
german march cost of living data confirmed
the partnership in its statement again urged management to work with it to facilitate a transaction
it was uncertain whether the court would reach any decision on the request today
he added that many of the fixed interest eurobonds dollar straights had been trading basis only for some time prior to this weekends news
later the bank proposed to allot only 30 pct of subscriptions causing a general outcry among traders
gold futures retreated from modest early gains and closed steady while silver prices rallied on the commodity exchange in new york
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
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
company is a subsidiary of the british petroleum co plc bpl
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
fruit of the loom offers debentures notes
belgolux trade moves into surplus in 1986
but there were also limits to the impact west germany could accept on exports from a rising mark he said
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
some others however judged that the fed has almost completed its reserve adding requirement for the statement period ending on wednesday and will not need to operate today
danforth bond ask targeted 0 92 measure
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
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
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
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 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
while annual maize consumption is estimated at 750000 tonnes the gmb stockpile is currently around 18 mln tonnes which means that even with the sharply reduced production this year zimbabwe has enough maize for the next three years
the bank of england said it had provided the money market with assistance worth 129 mln stg in the afternoon session
no attempt was made at the meeting to resolve the complex dispute which was aimed at damage limitation
credit volume eased to 91 billion from 92 billion while loans to companies rose seven pct
qtly div 28 1 2 cts vs 26 cts previously pay june 15 record june one
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
s african consumer price inflation rises slightly
it was indicated at 47 to 54
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
us energy costs rose in february by 19 pct
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
faraway will spend 15 mln dlrs on exploration over three years and will hold 50 pct of the property until all expenses are paid out when the interest will drop to 40 pct
a spokesman said the company had no current plans to lay off workers
subroto sees oil market continuing bullish
this has resulted in reduced hydro electric power causing shortages to industry and households
borden inc called for redemption on march 23 of all its outstanding 8 1 2 pct sinking fund debentures due 2004
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
but protests had also come from other exporters to the ec such as senegal malaysia indonesia brazil argentina iceland and norway they added
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
in november m2 fell 19 pct from its level in october and was 39 pct above its level a year before
morocco is scheduled to tender april 14 for a total of 55000 tonnes of us soyoil under pl 480 for shipments from may through september private export sources said
bonneville pacific corp bpco 3rd qtr jan 31
others have effectively been liquidated
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
the company said the stock split is effective march 16 with a distribution of one additional share to each shareholder of record march 9
c
api says distillate stocks off 252 mln bbls gasoline off 260000 crude off 423 mln
canada economy expected to grow moderately
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
it said the acquisition would lift jannock imaging revenues to 50 mln dlrs this year
the us agriculture department has accepted 10572402 more acres of highly erodable cropland into the conservation reserve program usda announced
zimbabwe maize harvest lower after bumper crops harare march 3 zimbabwes maize crop in 1986 87 april march is likely to be slightly over 16 mln tonnes against 183 mln in 1985 86 grain marketing board figures show
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
an antwerp port authority spokesman said electricians came out in support reducing ship movements to a trickle
borg warner says it discussed possible takeover with irwin jacobs
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
international thomson organisation ltd year shr 33p vs 38p
the stock closed at 53 3 4 yesterday
normally unsettled trades must be reported three days after they occur
a milan banker shared stadelmanns view saying he expects a dollar yen range of 140 150 in the short term
oneok inc oke 2nd qtr feb 28 net
new plan realty trust npr to redeem notes
sudan has not received fresh loans since 1985 and the sources said it was only getting grants at present
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
texas air to give former continental air holders another 375 dlrs a share
the pcggs sequestration last year of 33 mln shares aborted smcs bid to buy them back from 14 trading companies in the ucpb group
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
turkey estimates 1986 growth at eight pct
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
however kuwait is perplexed that this time the iranian charges are accompanied by accusations that the vessels were undertaking espionage activities it said
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
rural banking and finance issues zero coupon bond
greenmail describes a buyout of a minority shareholder at a price not available to other holders
the bank of england said it gave the market late assistance of around 210 mln stg bringing its total help on the day to some 353 mln stg
gabelli explains sale of gencorp gy shares
s p downgrades canadas province of saskatchewan
this tax season rates will be up about three or four pct in line with the inflation rate he said
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
tender loving tlci staff staf extend pact
he said the issue was meant to boost capital ahead of new investments
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
amsterdam launches 300 mln guilder cp program
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
brazils several hundred creditor banks worldwide agreed last march to extend the credit lines until march 31 1987 as part of a 31 billion dlr financing package
final terms will be set on april 15
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
liffe t bonds gain on jobs data
us chipmakers urge sanctions against japan
the challenge for our industry is to keep from getting carried away and repeating past mistakes gafs heyman cautioned
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
moodys cited michigans ongoing losses which have impaired liquidity weakened financial flexibility and lessened the likelihood for operating performance to improve
one dealer said this was the first time the ministry had made such a request to commercial banks
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
shr not given net 328000 vs 99000 year shr not given net 1694000 vs 998000 note company went public in february 1987
the dollar still has more room on the downside against the yen based on the frictions in trade and financial services
it said it expected west germany to post a 31 billion dlr payments surplus and japan a 76 billion dlr surplus this year
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
qtly div 12 1 2 cts vs 12 1 2 cts pay march 31 record feb 27
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
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
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
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
harkin said a legitimate concern about his bill would be the impact of higher prices on livestock producers
security capital said this action was taken in response to its continuing operating losses primarily at benjamin franklin savings association a houston based subsidiary
simon and schuster to acquire woodhead faulkner of the uk for undisclosed terms
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
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
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
the bank of england said it gave the money market late unspecified assistance of around 185 mln stg
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
campbell red lake mines ltd 4th qtr shr 21 cts vs 10 cts
bank of montreal cuts prime rate to 8 3 4 pct from 9 1 4 pct effective friday
moodys earlier today downgraded six billion dlrs of merrill debt citing lagging profitability relative to other brokerage firms and increased competition
m
reading co rdgc 4th qtr oper net
domtar to issue 100 mln dlrs of debentures
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
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
we are sitting on a barrel of powder but fortunately it may still be wet he added
diodes inc dio 3rd qtr jan 31 net
dan glickman d kan chairman of the house agriculture subcommittee on wheat feedgrains and soybeans
earlier figures were not available
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
lebanese central bank vice governor meguerditch bouldikian called for the establishment of an arab fund to assist the lebanese pound which has lost more than 80 pct of its value against the dollar since january 1986
one rocket was fired but missed
it is very difficult to be optimistic gut said
telecom plus international inc said it has received all regulatory approvals needed to change its name to tpi enterprises inc
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
crossland and the fslic executived an assistance agreement indemnifying crossland from certain losses that could occur in connection with westerns loan portfolio
creditors seek swift rescue package for japan line
it said unaudited net profit was in the neighbourhood of 700 mln pesos an increase of about 50 pct over 1985
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
the group is the latest to announce a tax free bonus issue ahead of dividend imputation effective july 1
that produced a small daily average deficit for the week as a whole
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
general acquisition said if gencorp does not allow an environment for fair competition it will take all steps necessary to create such an enviroment
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
benigno told reporters the 53 year old mitsui and co ltd executive was freed yesterday and is being held in an undisclosed hospital
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
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
d and p lifts general public utilities gpu unit
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
at its last tender on march 4 the bank of france sold 1105 billion francs of tap stock
prices in the 12 nation bloc rose 02 pct in may after 06 pct in april
such substitutions are made from time to time most recently with the addition of mcdonalds corp mcd in october 1985 to reflect long run changes in the economy and the market it added
craftmatic contour crcc sees higher profits
dixons has 56 pct of cyclops corp
nainggolan said that the exchange was trying to boost overseas interest by building up contacts with end users
net proceeds from the offering will be used to reduce bank borrowings national medical said adding merrill lynch capital markets will manage the underwriting
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
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
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
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
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
mobil oil singapore pte lte will raise pump prices of petrol from june 2 a spokeswoman said
royal resources also said the sale of its interest in two gold properties the colosseum mine in san bernardino county calif and the camp bird mine near ouray colo
shr 23 cts vs 14 cts net 611000 vs 511000 revs 101 mln vs 4380000 note latest year includes three cent per share loss from discontinued operations while prev year includes seven cent per share tax credit
lanston and co inc
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
mthly div 36 cts vs 36 cts prior pay march 13 record march two
hughes ht changes stance on merger after suit
div and issue reg april 16
demand deposit rates however will remain the same
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
quebec issues 30 billion yen eurobond
as a result banking communities serving entire economies are put at a competitive disadvantage he added
analysts see another draw reflecting historic seasonal trends
changes in ec areas reflect the extent to which producers will grow so called c sugar for unsubsidised sale to the world market
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
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
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
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
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
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
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
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
he must have missed the last two years of federal tax reform by sleeping as soundly as rip van winkle stark said
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
official wants arab fund to help lebanese pound
the deal is worth 630 mln dlrs
president reagan opposes protectionist legislation but agreed to support a trade bill when it became apparent that opposition democrats would pass such legislation
we were expecting an offer north of above 21 or 22 dlrs said one arbitrageur
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
oper shr for qtr and six mths 1986 adjusted for stock split and dividend distribution in november
aramco responsible for all saudi production except about 200000 barrels per day bpd in the neutral zone between saudi arabia and kuwait increased production to 469 mln barrels per day in 1986 from 304 mln barrels a year earlier
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
wheat tobacco tea coffee jute engineering and electronic goods as well as minerals including iron ore are all on offer in return for crude oil petroleum products chemicals steel and machinery trade sources told 
he said participants in financial markets and business remain skeptical of prospects for lasting price stability
american international would not identify the company
diagnostic retrieval systems inc makes 53 mln dlr bid for rospatch corp
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
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
no decision on us action is expected at least until after documents on the ruling are received here later this week
edelman was unsuccessful last year in offers for lucky stores inc and fruehauf corp
each warrant is for a nominal amount of 1000 marks and the minimum purchase will be for 100 warrants
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
this bond will pay a first coupon of 425 pct on april 27 next year and the payment date will be october 27 1987
security pacific will provide expertise in consumer and commercial lending as well as data processing support
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
diamond crystal salt co said it might sell its salt division
food prices rose 02 pct last month after a 05 pct january increase
miniscribe miny files to offer convertibles
fw woolworths z 1986 profits rise 21 pct
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
a five pct credit only for geological and geophysical expenditures
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
fields in the west were short of nitrogen and moderate insect activity was noted in the southwest region
excel industries inc exc boosts dividend
he added that earnings per share would exceed analysts estimates of as high as 42 cts a share
we are in an impossible situation
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
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
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
the feedgrains provision would cost about five mln dlrs
indeed moodys announced friday that its original rating of b 1 for the holiday inns notes remained appropriate
president jose sarneys government has repeatedly refused to approach the fund arguing that an imf programme would lead to recession
dynamics research corp drcoo 1st qtr march 21
theres probably some speculation out there that there might be another offer said one analyst
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
he said last months six nation currency accord in paris did not include target ranges for the dollar in an academic way heller also said that it was too early to determine whether the parties to the six nation accord were taking appropriate steps to carry out the longer term economic adjustments agreed to in paris
hydro said the drop was caused by failure to bring on stream a second well cutting september production to just two days
island telephone share split approved
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
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
italy sets rules for company holdings in banks
qtly div 15 cts vs 15 cts in prior qtr payable may 11 record april 10
when the market is declining buyers seize on anything to talk down prices the spokesman said
we remain convinced that the most critical transitional issue facing the industry take or pay must be resolved by ferc in the near future
anglo american aivjj year to dec 31
southland slc unit raises crude prices
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
closing of the deal is expected by may
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
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
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
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
marin said the rains would only affect the coffee crop if they continued through to next month when harvesting starts
fujitsu ltd is a computer and telecommunications company based in japan
city resources to sell gold property stake
angeles corp ang is general partner of energy development
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
amcast industrial corp acst 2nd qtr march one
burry previously had a sell recommendation on pepsico
iran vows reprisal for us attack on oil rig
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
world group investment in fixed assets 266 billion vs 246 billion
fall dryness may be a problem
kistler said the the government had also indicated it would consider granting if necessary an additional three month extension to complete the sale
american soybean producers and processors are hoping the proposed ec tax on vegetable oils and fats will not be imposed but say the us is prepared to retaliate if it is introduced
markets in effect are less confident than governments that these measures including us budget deficit cuts agreed by congress and the white house will be carried out
if at least 90 pct of the shares are not tendered the offer will be prorated to 49 pct the companies said
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
oper shr nine cts vs three cts oper shr diluted eight cts vs three cts oper net 15 mln vs five mln revs 518 mln vs 622 mln note oper net excludes extraordinary income of seven mln dlrs vs four mln on tax loss carryforward offset by writedowns of three mln dlrs vs eight mln on us oil and gas properties and other assets
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
moore mccormack mmr completes unit sale
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
certainly i do not see any shortage in external resources and if gnp growth continues at this level i would assume that domestic resources on the fiscal side would be generated and would not be a stumbling block fernandez said
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
iran warns us not to intervene in the gulf
most of taiwans wheat imports come from the us the spokesman said
the 1800 customer system is the fourth municipal system acquired by energens alabama gas subsidiary since october 1986 adding a total of 9600 customers
the finance ministry is expected to introduce yen commercial paper cp from october 1 in response to growing calls from corporations ministry sources said
castle and cooke inc cke 4th qtr loss
standard and poors corp said it affirmed the b plus rating on avx corps 28 mln dlrs of subordinated debt
the issue is underwritten by a management group led by amro algemene bank nederland nv and pierson heldring and pierson nv
moodys investors service inc said that it downgraded gelco corps variable rate notes and convertible debentures to ba 3 from ba 2
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
coffee deliveries to the state run coffee board of kenya rose 17 pct and tea deliveries rose four pct during the period he said
the banks bill buying operation also had little impact because it was regarded as a routine operation they said
a strike by 9000 miners employed by the state corporation comibol has paralysed tin production in the major centers of huanuni corocoro siglo catavi and colquiri the conflicts secretary of the bolivian miners federation cristobal aranibar told 
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
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
murray ohio manufacturing co said it expects first quarter earnings to be higher than the year ago 4800840 dlrs or 125 dlrs per share due to excellent lawn and garden shipments
the well was drilled by a group of japanese companies
the ec commission cereals management committee rejected all bids for licences to export free market spanish barley to non ec countries trade sources said
parent investment in fixed assets 960 mln marks vs 831 mln
oppenheimer said it bought the stake in connection with risk arbitrage and other investment activities in the ordinary course of its business
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
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 addition john lennon current chairman and chief executive officer will remain as chairman he company said
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
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
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
cominco ltd said no talks were scheduled with striking workers at its trail smelter and kimberley british columbia lead zinc mine
el nino is a phenomenon involving a shift in winds and waters in the pacific
despite these concerns refiners are expecting margins to move higher in the next few months
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
roberts made the comment at a press conference held by republican members of the house agriculture committee
us business loans fell 896 mln dlrs
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
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
spain qualifies reserve requirements statement
japan shipbuilders seek cartel to restrict output
national amusements already owns 196 pct of viacoms stock
it said the sale leaves it with 108 gencorp common shares
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
the strikers joined coal miners steel and oil refinery workers in spains latest wave of stoppages over wage demands
first interstate expects brazil ecuador loan actions to cut 1987 net by 154 mln dlrs
it added that its semi annual four pct stock dividend will not change
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
proceeds from the sale of the agricultural segment could be used to reduce graces debt standard and poors said
kato declined to give any details
hu said under the new treasury bills amendment bill all book entries of borrowings through treasury bill issues must be made in records maintained by mas
she stuck by the companys statement that more time was needed because the talks are complex
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
maize plantings would be down in 1987 88 but yields were expected to be higher the agpm official 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
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
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
the company said the shares may be converted into common stock through april 30 at 1818 common shares per preference share
this follows the countrys tender for 25000 tonnes of optional origin wheat for shipment april 20 30 they said
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
he said inquiries into the accident which happened while the hydrocracker was not in operation were continuing
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
the company today reported earnings for the year ended january three of 207514 dlrs up from 98050 dlrs a year before
timing and psychology are the key to successful intervention said jim oneill a financial markets economist with marine midland banks inc
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
he also said some newly industrialized countries should let their currencies appreciate
however the hard work is still to come with a couple of years of tough negotiations ahead he said
philippines says debt pact better than mexicos
carlos brasil an adviser to the ibc president said dauster had left rio de janeiro for managua early this morning
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
he said the window depends more on supply than on foreign exchange or interest rate risk at least for the moment
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
terms were not disclosed
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
cie bancaire in one for five bonus share issue
the sources said it would aim to carry a large part of kenyas coffee and tea exports and oil and fertiliser imports
he described debt equity swaps as a very interesting new approach to indebted nations problems
mclean industries mii unit transers service
ual inc may have a response this afternoon to the pilots union proposal to buy its united airlines unit a ual spokesman said
uk merger clearances
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
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
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 
the company said a detailed audit and investigation is continuing
federated department fds raises qtly dividend
the treasury declined comment on the figures
the us now imports about 38 pct of its oil needs up from 27 pct a year ago the new york times said
louisiana land llx assumes inexcos debt
valley national corp vncpo 1st qtr net
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
1985 net income includes extraordinary gain of 32 mln dlrs or 25 cts
the purchase authorization covers the entire quantity of rice provided under the agreement
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
platte river authority sells taxable muni bonds
western digital wdc to redeem debentures
it will be the next decade before we see if the strategy is right or wrong
guinness challenges 52 mln stg payment to lawyer
he told the decision not to put any limit responded to new factors which have emerged from recent international coffee organisation talks in london where producers and consumers failed to agree on a re introduction of export quotas
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 company said however it expects positive operating comparisons for the period
australia and new zealand banking group ltd anzas said it will lower its australian prime lending rate to 18 pct from 1825 effective april 6
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
us agriculture secretary richard lyng opens talks with japanese government officials today well aware his demand for the opening of japanese rice beef and citrus markets is likely to be rejected
fed sets 15 billion dlr customer repurchase fed says
it estimated the ec rapeseed crop at a record 59 mln tonnes up from 37 mln last year
a gazette spokesman said his newspaper is le matins biggest creditor but he declined to reveal the amount of debt acting publisher jean pierre bordua said the newspapers bank blocked its lines of credit after three of the papers senior managers resigned friday
2001 distributes fresh squeezed juices and had a loss on sales of about one mln dlrs in 1986 its first year of operation
rabbit software rabt to merge with cti data
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
steel technologies sttx mitsui set venture
preway inc prew 4th qtr loss
in 1986 emhart reported a net loss of 10 mln dlrs or 35 cts a share after a 90 mln after tax restructuring charge which realigned the companys assets
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
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
riggs national corp rigs sets quarterly
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
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
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
revenues 1735 billion guilders vs 1727 billion
extraordinary charges 13 mln vs 342 mln
jamesway corp said sales for the five weeks ended april four were up 15 pct to 541 mln dlrs from 471 mln dlrs a year before with same store sales up four pct
terms of the debt securities will be determined by market conditions at the time of sale the company said
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
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
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
citicorp expects net income in its individual banking sector to top one billion dlrs by 1993 compared with 462 mln dlrs in 1986 said richard braddock head of citicorps individual banking division
around 300000 tonnes were exported to china between july 1986 and february this year
of the two b warrants one entitles investors to purchase one participation certificate in inspectorate international ag and the other provides seven warrants
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
advisories for low wind chill temperatures have also been posted across portions of upper michigan and northern lower michigan
since last august smart has been leading talks to open up japan to purchases of more us made automotive parts
the bank of england said it provided the money market with late assistance of around 120 mln stg
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
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
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
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
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
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
the split will increase the number of outstanding shares to over 26 mln from about 173 mln shares now the company 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
its world group net profit in 1985 was 2559 mln marks
it said the increase was concentrated in loans to the manufacturing and real estate sectors while loans to the commerce sector declined
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
bandied about for several weeks has been the idea of offering producers soybean loans partially in cash and in certificates
there have been five other cases of australian meat which had residue levels above us allowable limits this year she said
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
theres a lot of reluctance by the other banks
heritage financial services hers 1st qtr net
bi said chinas yards offered competitive prices guaranteed quality and prompt delivery
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
it will be listed in the official bulletin balo on april 6
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
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
the index rose to 1341 base 1980 from 1298 in november and 1228 a year earlier the westpac institute report said
final test inc fnlt 4th qtr loss
vishay intertechnology inc said its board declared a two pct stock dividend payable april 10 to holders of record on march 26
in january export prices fell 03 pct against december to stand 30 pct lower than in january 1986
moodys investors service inc said it downgraded 17 billion dlrs of debt of bankers trust new york corp lead bank bankers trust co and other subsidiaries
john ashmun chairman of wainoco said as a result of this recapitalization wainoco will be in a strong financial position
the bank of england said it revised up its forecast of the shortage in the money market today to around 500 mln stg from its initial estimate of 350 mln
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 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 commercial paper of the parent and its unit chase manhattan bank of canada were affirmed at a 1 plus
four of 10 indicators were positive including stock prices new business formation average work week and money supply
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
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
total capacity is 181900 bpd
the company said the transaction is subject to hughes tool co ht and baker shareholder approval of the baker hughes merger
duff and phelps first monthly dividend of four cts was paid on march 10 it noted
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
city of bergen launches 80 mln canadian dlr bond due 1994 at 101 1 2 with 8 5 8 pct coupon
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
it surged last week amid indications washington was seeking a major rise in its value
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
c itoh and co ltd cittt 
great american said it bought the stake for investment
its got 69 cents written all over it one dealer said
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
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
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
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
us moves to increase its warships in and around the mideast gulf could trigger more attacks on unprotected merchant ships but run little risk of sparking a direct military clash with iran diplomats said
s african producer price inflation rises in april
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
sri lanka appeals for drought relief aid
the net proceeds to the company total 28 mln dlrs the company 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
shr loss two cts vs profit 38 cts net loss 90000 vs profit 1685000 revs 1826000 vs 293 mln year shr profit 337 dlrs vs profit 46 cts net profit 150 mln vs profit 2047000 revs 262 mln vs 1236 mln note net includes pretax securities sale gain 10000 dlrs vs loss 1000 dlrs in quarter and gain 486000 dlrs vs loss 112000 dlrs in year
japan brokers seek 10 year government bond auction
we dont see it as a precursor of continued strength durable goods sales rose 88 pct in february after falling 177 pct in january
after that any remaining exposure from unsold securities will be assessed at their full face value
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
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
south africa sets news conference on debt
uk money market shortage forecast revised down
canadian roxy in new alberta oil discovery
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
a decision on final dumping duties on frozen orange juice from brazil may not be issued until tomorrow commerce department officials said
exploration and production lost 185 mln dlrs on revenues of 5935 mln dlrs
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
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
canada central bank head sees moderate growth
but it does oppose any foreign international telecommunications carrier having a management role he said
paragon said it bought the shares for investment purposes
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
the average forecast called for a 18 billion dlr increase
saudi arabias opec assigned output quota is 4133 mln bpd
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
ny sugar freights april 7 nil
it said the drop was expected because there will be a drawdown on stocks built up near the end of 1986
japans chip makers angered by us sanction plans
ecuador seeks 450 mln dlrs in emergency credit
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
with temperatures expected to fall to near 0 degrees f over the next two nights some light winterkill is possible accu weather added
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
buckhorn a manufacturer of reusable plastic shipping and storage containers recorded 2051000 or 155 dlrs per share operating net loss for 1986
recent intervention by the bank of japan appeared mainly to have been required to meet year end window dressing demand for yen
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
the trucking subsidiary in western canada is performing well and there are no plans to sell it he said
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
houston based panhandle eastern earned 1335 mln in 1986 on revenues of 20 billion compared to net income of 1131 mln on sales of 25 billion in 1985
elsinore said it has guaranteed the payment of the bonds
recent us oil demand up 01 pct from year ago
market sources mentioned anheuser busch inc bud and pepsico inc pep as alternatives to coke as acquirers
lead manager will be drexel burnham lambert inc
sumitomo launches 200 mln swiss franc convertible
williams wmb sees flat pipeline volumes in 1987
but opec is not out of the woods yet by a longshot due to seasonal declines in demand and some cheating he added
the three year facility is half underwritten and half non underwritten
copenhagen telephone co ltd is issuing a 600 mln french franc 15 year retractable adjustable bond lead manager credit commercial de france ccf said
repayments were inevitable and many countries would find their net repayments to the imf rising in the next few years
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
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
first granite bancorp inc said it agreed in principle to become a wholly owned subsidiary of magna group inc magi under terms of the agreement first granite shareholders will receive 2175 shares of magna for each first granite share held
the company also said it plans to pay an initial quarterly dividend of five cts a share on the shares
st gallen launches 50 to 60 mln swiss franc bond
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
these are desperate actions but we believe that most of this offered sugar will be withdrawn within the three week breathing space allowed
but the us embassy replied that chinese figures showing 13 years of trade deficits with the us out of the last 15 are inaccurate and said peking itself would have to persuade congress to change laws which limit its exports
general cinema corp gcn class b dividend
the other leading contender is a consortium of american telephone and telegraph co t with philips nv of the netherlands
the two men had run the saudi oil industry for more than 20 years
ccc guarantees to iraq switched usda
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
west german economics minister martin bangemann indirectly rejected a call from the countrys leading economic research institutes for early introduction of a major tax reform involving gross tax cuts of 44 billion marks
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
in some cases they lease the land to grain farmers
venezuela will reprogram six billion dlrs in debt
the allocation rate on the last facility was 385 pct compared with 360 pct
corrected austria 1987 growth forecast revised
that statement however did not close off the possibility of a public offering or other option for shearson
texaco canada inc holds 25 pct mlc oil and gas ltd 15 pct northstar energy corp 135 pct and tricentrol oils ltd 115 pct
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
the revaluation formed part of a new go it alone economic strategy which kaunda adopted to replace zambias imf austerity program
most private economists expect a rise of about 05 pct from the previous quarter
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
clark copy international corp said it acquired a majority interest in datagraph gmbh of lich west germany
world bank to bring borrowing forward this year
deutsche bank finance nv curacao became the first of three issuers in the australian dollar market during the morning with a 100 mln dlr bond due 1990 paying 14 1 8 pct and priced at 100 1 4 pct
taiwan money supply rises 4822 pct in year
latin america seeks new approach to debt
aetna aet to sell canadian operations
they will be sold in denominations of 20000 crowns and listed in luxembourg
huttons stock rose 2 1 4 to 39 3 8
harcourt also announced an extensive recapitalization plan which analysts said was aimed at thwarting a takeover effort by british printing
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
copper higher grade nil 2526425 standard cathodes nil 6325 grade a 2429200 nil standard copper 17050 nil lead 443850 538750 zinc high grade 598550 304825 silver large 10350000 17400000 small nil 2000 aluminium 1693375 1301850 nickel 62004 65040 cumulative figures for january march were as follows copper higher grade nil 7703625 standard cathodes nil 24700 grade a 6455525 nil standard copper 62075 nil lead 1567000 1979750 zinc high grade 1746675 1356400 silver large 41770000 65620000 small nil 8000 aluminium 4984650 4974950 nickel 199944 179328
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
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
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
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
all partners had agreed that the dollar was at about the right level and that further changes would damage growth he said
brazil wanted to maintain its previous quota share of 30 pct
bevis industries inc which has been seeking to be acquired said it recently received inquiries concerning the purchase of the company
if the court decides they should be converted at par value of one dlr they could be converted into 220 mln shares
east asiatic issues 150 mln mark eurobond
jiang told general manager michael nelson that he hoped work on the railway system to ease shanghais transport problems would start within two years
year ended december 31 1986
state owned banca nazionale del lavoro bnl said 1986 profits for its banking activities equalled 155 billion lire against 146 billion lire in 1985
the interest rate on the 5 1 2 year loan is the japanese long term prime rate flat
ps group inc psg qtly dividend
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
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
western national had assets of 19 billion dlrs at the end of 1986 and 1986 premium and investment revenues
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
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
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
the supreme court without comment declined to hear an appeal by the bondholders seeking to reinstate their lawsuit
it said the distribution is payable march 20 to shareholders of record march two
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
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
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
deutsche lufthansa ag lhagf said it launched today regular scheduled services from frankfurt to washington dc and riyadh
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
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
bond international has also sold several residential buildings in hong kongs mid levels district for a total of 6835 mln dlrs the statement said
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 companys stock last traded on the toronto stock exchange at 19 3 8
brazil seen as vanguard for changing debt strategy
iwc lifts 1986 87 world wheat coarse grain estimate one mln tonnes to record 1377 mln
dealers expect todays issue to have a coupon of 6 1 8 pct
the spokesman said the company exports its products to japan southeast asia hong kong the us the middle east and africa
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
full ownership would enable investment and operating decisions to be made without the limitations of a minority interest
canadian imperial sees lower loan losses
japan and the us kick off top level trade talks tomorrow amid signs officials from both sides are growing increasingly irritated with each other
growth in the traditionally broad m3 aggregate was only moderate in february
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
sosnoff said he believes the offer is fair to all shareholders
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
hofer said in 1982 switzerland had imposed a 56 pct gold turnover tax on jan 1 1980 but abolished it on oct 1 1986
they were obviously regarded as being negative
we have lost some orders to south korea and mainland china because foreign importers have switched their purchases he said
theres speculation on the street he just wants to move onto somthing else said one arbitrager
bp bp unit sees mine proceeding
court upholds bank building bb self tender
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
the company had received a qualified opinion on 1985 financial statements subject to its ability to resolve negotiations with its us bank group
the bureau said upland cotton ginnings from the final 1986 crop totaled 9237296 bales vs 12837088 bales in 1985 and 12418749 bales in 1984
the company reported a 1986 pretax profit of 44 mln stg down from 118 mln in 1985
an ordinary ship is compartmentalised and you have more stability he said
blinder international enterprises inc said it will loan four mln dlrs to cattle baron inc a subsidiary of source venture capital sor the loan will be used to contruct the cattle baron casino and restaurant to be located in henderson nev the company said
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
iraq says it attacks two ships in gulf
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
in a newspaper advertisement general partners said the offer and withdrawal rights expire april 14 unless extended
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
c and w offered role in new japan telecom company
the fall in pre tax profit corresponded to the losses on stocks in the oil and gas sector at the beginning of 1986
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
1986 year revenues include 187 mln dlrs from gain on sale of quality sausage co inc
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
shr loss nine cts vs profit two cts net loss 397000 vs profit 76000 revs 3763000 vs 6467000
the el universal and el nacional papers said anzola would leave his position soon
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
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
bush industries bsh sees higher year results
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
the bank of england said it forecast a liquidity surplus of around 100 mln stg in the money market today
stocks aug 31 1986 at 4040 vs 4040 last month
during the period only six located in the city achieved fortune 500 status
schlecht said the upturn in west germanys economy slowed in the fourth quarter of last year and the first quarter of 1987
the ministry had written to norways oil companies and would now discuss with them how best to implement the cuts
the market now expected the us federal reserve to intervene in support of the dollar
employment is forecast to decelerate as well reflecting more sluggish growth in the private sector and budgetary cuts the report said
delegates were fairly confident the differences could be worked out in time to reach agreement tomorrow
warwick insurance managers inc wimi 4th qtr
the new rules will first apply to premiums payable for the lloyds account which closes on december 31 this year lawson said
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
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
of the 28 mln tonnes total 15 mln tonnes will be wheat 12 mln tonnes coarse grains and the remaining one mln tonnes miscellaneous grains and pulses usda said
jardine matheson which had debts of about 27 billion dlrs last year will become debt free after the restructuring
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
elsewhere maize from east london to japan paid 22 dlrs
manila wants to reschedule about 36 billion dlrs of debt that falls due between 1987 and 1992 and to obtain easier terms on 58 billion dlrs of previously restructured debt
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
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
i have not told any of our investors to stay away from the banks in general she added
spains principal measure of money supply the broad based liquid assets in public hands alp grew at an annualised rate of 176 pct in march against 166 pct in february and 196 pct in march last year provisional bank of spain figures show
the issue is payable and redeemable in australian dollars although coupon payments will be in yen
genfinance luxembourg issues 50 mln stg eurobond
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 dollar remains the key fundamental factor and the us currency has made little headway of late analysts said
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
i think the markets believe and have believed for a long time that the only recourse is to reflate at some point
canada current account deficit up in quarter
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
cts corp and dynamics corp of america reached an agreement resolving all outstanding differences between them according to a joint statment
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 
1986 net includes 17 mln dlr credit
camdessus said he wished his visit could have been in more pleasant circumstances in remarks reported by the official ivorian daily fraternite matin
despite repeated bank of japan intervention the dollar plunged to a post war low in tokyo today
dealers and analysts warned that the dollars decline would probably be uneven
cato corp said it has filed for an initial public offering of about three mln common shares
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
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
i think the tidal wave in energy has passed over us he said
venezuela will lend ecuador up to 125 mln barrels of crude oil to help it meet its export commitments and its domestic energy demand ecuadorean energy and mines minister javier espinosa said today in a statement
we have to study this more reagan said
the result is that the prices quoted are far away from two firms production costs
in the short term however the outlook is dull bird said as the world economy has not responded well to the opportunities offered by cheap oil
prices of malaysian and sumatran cpo are now around 332 dlrs a tonne cif for delivery in rotterdam traders said
shoe town inc shu year ended jan three 1987
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
third qtr 1986 net includes extraordinary credit of 76400 dlrs or four cts a share
usair and twa had no immediate comment
dainippon ink bought sun chemicals graphic arts group for 550 mln dlrs late last year after an earlier unsolicited bid for the whole company
us treasury selling 775 billion 4 yr 725 billion 7 yr notes march 25 26
it left wheat trade unchanged at 86 mln
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
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
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
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
nippon signal to issue 50 mln swiss franc notes
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
southeastern asset management inc and its two controlling shareholders said they sold their entire 56 pct stake in allegheny international inc
one offer for srw wheat on call session no milo
the warrants will be exercisable between june 1 1987 and april 2 1992
seipp said the purchase price had been several hundred million dollars but he gave no further details
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
esso malaysia bhd a unit of exxon corp of the us reported net profit of 70 mln ringgit from its petroleum and ammonia operations in 1986 compared with 487 mln in 1985
service resources corp src 4th qtr net
the bond will be issued in denominations of 1000 and 10000 marks
reagan upbeat about latest gnp figures
morocco likely to get over 100 mln dlrs in aid
piedmont aviation inc said its board meeting recessed today without taking action on proposals to combine piedmont with other corporations
as of february 25 it said there were outstanding 150 mln dlrs of the principal amount of debenures
he denied the action had been taken for that reason
hallamore and lloyd g
what people really have to learn is to read labels said kritchevsky
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
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
the federal home loan bank board said thrift institutions insured by the federal savings and loan insurance corp reduced their liabilities at a 41 pct annual rate during january
and joseph g
within the consuming countries there also is expected to be some pressure to reassess positions
the only statistics available are from some terminal markets which represent only a small percentage of the total cattle marketed
the foundation said it sold 36000 wurlitzer common shares between march 13 and 30 at prices ranging from 325 to 2375 dlrs a share
one of the new directors will take over as chairman and chief executive officer river oaks said
ragsdale and richard l
the rapid appreciation of the japanese yen against us and canadian dollars last year led to sands loss of 21 mln dlrs or two cts per share on sales of 249 mln dlrs
the economics ministry commenting on the figures said gnp in the 1987 first quarter was also expected to be relatively weak
uk money market given 129 mln stg assistance
citicorp cci 3rd qtr net
this was the 12th consecutive quarterly gain the company said
westpac said in a statement the increase reflects high costs of funding
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 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
hogan said systems 4 provides integrated applications software and processing services to about 30 community banks
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
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
federal mogul corp fmo sets regular dividend
banc one one makes indiana acquisition
the association groups together the main yugoslav iron and steel enterprises
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
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
baldrige predicts solid us housing growth
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 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
royal bank said it keeping its 1987 loan loss experience estimate unchanged from the last quarter at one billion dlrs
resdel industries inc said it has agreed to acquire san bar corp in a share for share exchange after san bar distributes all shgares of its break free corp subsidiary to san bar shareholders on a share for share basis
the m0 data are much better than we expected said robert thomas economist at greenwell montagu securities
lilaratne said the susceptible clones would be replaced by pb 86 rrim 600 rric 110 rric 121 ric 100 and ric 102
zinc producers approach ec on voluntary closures
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
non consolidated net profit 346 billion francs vs 305 billion
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
commonwealth said westfair originated 60 mln dlrs of residential mortgage loans during 1986
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
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
argentine subproducts shipments in 1986
the jakarta office will be the third adb office outside its manila headquarters
cyacq corp said it terminated its february six tender offer for cyclops corp
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
to date helm has sold 435000 bambergers for 35 mln dlrs
we are going to see a very rapid decline earlier than usual this year in our us exports loewy said
york research corp said it has completed the arrangement of 11 mln dlrs of common stock to european investors
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
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
note company earlier reported consolidated net profit 3159 mln francs vs 30208 mln and consolidated attributable profit of 2933 mln vs 2666 mln
the itcs case is being presented by professor rosalyn higgins and is expected to take a further one or two days next week
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
broadly based m 2 money supply rose 11 pct to 3130 billion dlrs in january after a 16 pct rise in december bringing year on year growth to 121 pct in january against 100 pct in the previous month
three other bank officials are still being held in custody
waste management corp said its board voted a two for one stock split payable april 21 record march 30
colombia is holding a snap selling tender tonight for one cargo of world market raw sugar traders said
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
us securities industry assn backs restraints on takeovers insider trading
merrill lynch mer fires vaskevitch
moodys investors service inc said it cut to caa from b 2 allegheny beverage corps 112 mln dlrs of subordinated debt
the selling concession is 3 4 pct while management and underwriting combined pays 3 8 pct
dome said in the filing it proposed lenders sign a letter of understanding in early april with implementation to be effective july 1 1987
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
mcchip mcsto to acquire reserve holding
a statement from the bank said twelve companies have already been called to sign the agreements and the process is expected to continue in the coming weeks
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
it earned 585000 dlrs in the previous fourth quarter
while the foreign trade situation has improved this year foreign exchange restraints persist he said
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
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
mthly div 66 cts vs 69 cts prior pay april 30 record april 15 note franklin michigan insured tax free income fund
that debt is guaranteed by the parent
the world bank said it has loaned turkey 325 mln dlrs to help support an energy sector reform program
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
the company said that this was despite the marks further strengthening against the dollar and other currencies and despite an increase in competitive pressure
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
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
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
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
about 75 pct of the reserves are in the form of cash mostly in us dollars
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
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
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
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
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
because the bundesbank scales down bids which it allocates at the minimum accepted rate some banks may try to get a full allocation by bidding heavily at 36 pct dealers said
us sets 975 billion dlr year bill auction
steel technologies sttx in joint venture
rr donnelly said it expects the deal to close in about 120 days subject to regulatory approvals and other conditions
its 45 dlrs a share offer for jwt which has been rejected by jwt expires on july 10
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
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
union carbide corp said its 1986 long term debt was 306 billion dlrs compared to 171 billion dlrs in 1985
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
i think we are finally down to the final paragraph in this book he said
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
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
ag edwards inc age 4th qtr feb 28 net
baker urges banks to mull new ideas for cutting 3rd world debt burden
a series of acquisitions in the next four years has pushed its capitalisation up to around 380 mln
it said malaysias international terms of trade will turn around to rise by two pct in 1987 after declining 12 pct in 1986 and five pct in 1985
the market undertook speculative dollar selling by reacting to overseas comments by monetary authorities and trade tension he said
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
marks work wearhouse ltd year jan 31 net
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
mcleans mii us lines sets sale of assets
santa fe southern sfx appeals merger ruling
this was above previous estimates of the current account deficit and compares with a surplus of 29 billion stg in 1985
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
rumors that ussr buys us corn traders
uk trade figures buoy hopes of interest rate cut
interim dividend already paid was 130 guilders
it earlier announced a 61 mln stg rise in pre tax profit to 248 mln stg for the year to december 28
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
it said shareholders will be asked to approve an increase in authorized common to 100 mln shares
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
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
the results also included an 113 mln dlr extraordinary writedown on the value of the laid up oil exploration drillship regional endeavour
three of the accused face alternative charges of breaking safety regulations set out in the mines and works act
volcker says us trade deficit is major challenge
ny dealers believe fed intervened to buy dlrs
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
on september 20 the friday before plaza it was 242
iceland has good catches and sellers quoted a price of 545 dlrs per percentage point protein cif north european ports
deb shops inc debs 4th qtr jan 31 net
the president of the export import bank said the bank was changing its lending policies to reflect changing conditions in export financing
it rose four cents against the us dollar on saturday to close at 3459
the pay date is april 30 with a short first coupon
the company said the new stock is intended to enhance utilicorps ability to carry out future financings investments acquisitions or for other corporate purposes
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
ef hutton lbo inc is still interested in an acquisition of purolator courier corp and is examining the possibility of raising its 35 dlr per share offer an ef hutton spokesman said
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
our first quarter results show clear benefits of our restructuring chairman edson spencer said
projected expenditure in the 1985 86 budget had been 156 billion riyals
today rumors circulated that coniston partners were buying ual stock
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
last year the house approved his idea to force an annual 10 pct trade surplus cut by those countries
fleet to acquire assets of mark iv iv unit
ford launches mark eurobond with currency warrants
shr loss nil vs profit 19 cts net loss 3175 vs profit 284945 revs 136 mln vs 106 mln year shr profit 13 cts vs profit 56 cts net profit 195202 vs profit 857006 revs 475 mln vs 429 mln note current year net includes charge against discontinued operations of 1060848 dlrs
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
the overwhelming majority of brazils seamen remained on strike
commonwealth realty trust said preliminary merger talks with bay financial corp have been terminated due to a failure to agree on terms
our country is walking on one leg now said ismail salleh an economist with the institute of strategic and international studies
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
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
pittston co said it has tentatively agreed to acquire wtc international nv in a tax free exchange of stock
brazils present foreign trade and payments problems mean there are pressures from the government to boost exports to maximise foreign exchange earnings
soriano was named as one of the buyers in a bid in march 1986 for 33 mln shares controlled by ucpb
us house plan seeks to bar foreign takeovers
it is lifting just 10000 to 15000 bpd
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
world market price for upland cotton usda
payment date is expected to be april 22
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
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
first federal said the proposed move is also subject to execution of a definitive agreement regulatory approval and the approval of first federal shareholders
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
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
brenton banks brbko 3rd qtr oper net
capital expenditure which had been budgeted at over 150 mln stg was cut to 51 mln stg net of disposals
west german beet plantings delayed three weeks
caesars said it will explore a variety of alternative transactions but did not elaborate
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
official figures show chinas foreign debt at a post 1949 record 16 billion dlrs at end 1986
the joint committee of taiwans soybean importers will tender march 12 for a 27000 tonne cargo of us soybeans for march 20 to april 5 delivery a committee spokesman told 
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
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
coffee futures dipped further today and closed below 1 dlr a pound for the first time in six years
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
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
however the total to date of 506 mln tonnes is still substantially more than the 303 mln under licence a year ago
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
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
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
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
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
it said year to date total major appliance shipments rose 114 pct to 76 mln from 68 mln a year earlier
complaints about the inaction of the buffer stock manager are not confined to west african producers they observed
moodys affirms ratings of chrysler and units affects 12 billion dlrs of debt
tender loving care said it and staff builders have filed a revised registration and proxy statement with the securities and exchange commission
kentucky smelters get relief on higher rates
all atpc members except zaire and australia recently agreed to adhere to the export quotas allocated them under the plan
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
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
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
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
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
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
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
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
the bank said it will continue its policy of not charging any annual fee or transaction fees to credit card holders
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
the issue which matures on may 7 1990 has a 14 1 2 pct coupon and is priced at 101 3 8 pct
the rights expire april 9 1997
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
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
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
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
iraq national oil co inoc told cpc a red sea port where lifting was to take place could not accept small ships
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
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
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
japan will seek to strengthen the paris accord on currency stability at the meeting of the group of seven leading industrial nations tomorrow japanese officials said
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
kiena gold mines ltd said shareholders approved a previously reported proposed two for one common stock split
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
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
imports rose in real terms by 51 pct against february 1986 while exports rose by a real 46 pct the office said
in august housing starts were unchanged from july levels at 1598000 units instead of being down 15 pct as previously reported
that was business already done for all practical purposes said drexel burnham analyst dale gustafson reflecting similar statements made by other analysts
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
neda said gnp had grown 356 pct and gdp 325 pct in the fourth quarter of 1986 from a year earlier
the notes which are non callable are available in denomnations of 1000 and 5000 dlrs
ny grain freights april 9 nidera took tbn 12000 tonnes hss toledo to casablanca april 29 may 5 2500 dlrs three days load 1000 discharge comanav took radnik 20000 tonnes lakehead to morocco april 15 25 2200 dlrs 5000 load 3000 discharge krohn took akron 75000 tonnes anygrains on 55 feet stowage mississippi river to rotterdam may 1 10 805 dlrs 12 days all purposes continental took legionario 40000 tonnes river plate to japan april 25 may 10 2250 dlrs 2000 load 5000 free discharge garnac took sokorri 30000 tonnes us gulf to constanza april 15 25 1700 dlrs load terms unknown 3000 discharge
measured per car each american made car contained about 700 dlrs in japanese auto parts while each japanese made car contained about 26 dlrs in us auto parts smart said
rbd palm oil may 320
australian treasury note tender 500 mln dlrs
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
it said goldberg recently approached clark to repurchase the shares
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
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
shr 58 cts vs 53 cts shr diluted 54 cts vs 53 cts net 1957745 vs 1594009 sales 958 mln vs 874 mln note average shares up 117 pct on primary basis
on monday us navy warships blasted the rostam platform and navy personnel stormed a second platform a few miles away
officials do not think of china but of their own department or firm
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
the decline accelerated as producers who had sold very little metal at the higher levels became competitive sellers
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
the offering will be underwritten by bear stearns and co and first boston corp
i think nakasones desperate said a us bank foreign exchange manager
the offer for 100 pct of cote dor at 8050 belgian francs per ordinary share was agreed with the belgian firms board
it has also frozen bank and credit lines deposited by foreign banks and institutions worth about 15 billion dlrs
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 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
burlington lawyers told the court if the injunction is not granted samjens would win control of burlington
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
the selling concession is 1 1 2 pct while management and underwriting combined pays 3 4 pct
treasury secretary james baker said he stood by the paris agreement among leading industrial nations to foster exchange rate stability around current levels
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
analysts have speculated that carl lindner may be interested in acquiring the company
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
unocal raised crude oil postings 50 cts bbl wti now 19 dlrs bbl
healthsouth hsrco makes acquisition
the sale expected to close in april also calls for retirement of the units 400000 dlr bank debt multi step said
qtly div 22 cts vs 22 cts prior pay april 10 record march 30
the transaction is subject to shareholder approval
locke said shareholders would be advised as soon as the discussions progressed and recommended that they keep their shares
the company said that pursuant to the restructuring it has cut general and administrative expenses attributable to bojangle by 35 pct
capital repayments totalled 14 mln dlrs after februarys two mln dlrs repayment
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
sayam president waree havanonda told reporters last month her bank posted a loss of more than 400 mln baht in 1986
brett said we think the 290 marks level is a central rate
shr loss seven cts vs loss 23 cts net loss 381000 vs loss 1071000 sales 4531000 vs 4409000 year shr loss 21 cts vs loss 98 cts net loss 1098000 vs loss 4658000 sales 178 mln vs 173 mln
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
the report said trade contacts agree that about 15 pct of the orange output in calabria was damaged by frost
noranda brunswick miners vote monday on contract
they said a similar procedure was taken in the past in brazil and that it did not work out according to plans
it is guaranteed by the indian government with an interest subsidy provided by italys export credit agency mediocredito centrale
macandrews and forbes wholly owned by ronald perelman chairman of revlon group held about 318 pct of the voting power of revlon as of march 27 a spokesman said
national tech had sales of about 23 mln dlrs for 1986 it said
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
the company said the reason for the cutbacks was because it would not be purchasing a property it had anticipated and alternative investments will produce significantly lower yields than anticipated
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
emery eaf plans purolator pcc asset sales
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
for a number of companies the pgrt cut was absolutely necessary to even maintain the kind of reduced investments that were made otherwise the reduction would have been considerably more maciej said
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
federated financial savings said it declared an initial quarterly dividend of 85 cts a share april 27 record april 13
douglas said whatever the outcome of these influences the net public sector injections will continue to be fully funded on a fiscal year basis
trust america service corp said it signed an agreement with the first union bank of florida for a 35 mln dlr mortgage warehouse credit line
it said the split would raise the amount of common shares to about 252 mln from 168 mln and subordinate voting shares to about 239 mln from 159 mln
direct cash contributions from members will fund buffer stock purchases
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
west german institutes call for early tax cuts
she said skanska will also be appointing two board members to the canadian company
the seller was also undisclosed
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
cash balances should fluctuate around 30 mln nz dlrs over the week after open market operations it added
oakite products inc okt 1st qtr net
viacom via sets record date for merger vote
nestle seeking authorisation for certificate issue
one dealer estimated that the bank bought 400 mln to 500 mln dlrs as it tried to keep the us currency above 149 yen
deutsche genossenschaftbanks aschoff stressed west germanys heavy dependence on exports and the need for currency stability
analysts believe gaf which owns 199 pct of borg warner will raise its offer
jude at an exercise price of 100 dlrs
canadian narrowly defined money supply m 1 fell 291 mln dlrs to 3244 billion dlrs in the week ended march 25 bank of canada said
shr loss 130 dlrs net loss 256 mln revs 205 mln note prior results not given
the criminal case settlement dismisses all charges including bribery and false statement except for conspiracy to which paradyne pleaded guilty
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
rite aid corp rad 1st qtr may 30
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
fcoj supplies significantly above year ago usda
the previous target for 1987 was 181 tonnes
the company said june 29 will be the record date for the meeting
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
both tranches will be redeemable at the end of their lives and both have a payment date of april 27
through the deal he said venezuela will be assured the sale of at least 140000 bpd of crude and products
shaheen condemned the detentions and accusations and asked tehran to free all fishing boats and sailors held by iran the statement said
the common shares will be resold at 15875 dlrs per share and the warrants will be resold at 725 dlrs per warrant
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
southmark sm acquires berg ventures
vneshtorgbank seeks increase for facility
holders will also vote on a proposal to limit the liability of directors and amend the provision for indemnifying directors officers employees an agents
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
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
us sugar quota may be eased congressman says
in the year ago quarter it earned 11000 dlrs or one cent a share
as reported buitonis consolidated revenue rose last year to 1623 billion lire from 1177 billion in 1985
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
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
the bank of japan stepped up its dollar buying as it re entered the market after the midday tokyo lunch break dealers said
under the new rules purchases from non members such as malaysia will be limited to 15 pct of the total stock
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
the anhui provincial government has sent emergency relief to the 19 counties affected the news agency said
another however said edelman succeeds in forcing managements to take steps to enhance shareholder values even if he doesnt win the target company
spot tin easier on european free market
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 the official slaid the usda replied only that it would consider the request
there is no need to continue the strikes for the moment now the immediate pressure of redundancies has been lifted rosenmuller said
however zuckerman declined to name the other two houses
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 court originally decided that the winding up petition went wider than the enforcement of such a debt an amt spokesman said
benjamin said he would return to his consulting firm of anderson benjamin read and haney inc which he founded in 1984
the suit alleges among other things that certain waste management officers and directors purchased chemlawns stock before making the tender offer
suddenly support levels which had existed for fear of central bank intervention disappeared one dealer said
we believe that the equity market has much more upside potential than the bond market chrysler corp c treasurer fred zuckerman said
he also projected the economy would expand 28 pct this year
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
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
if a further appreciation of the dollar was to be prevented the us current account deficit could be offset by an inflow of foreign funds into the us but only if there was an appropriate interest rate differential would europe and japan look for financial investment in the us when selecting monetary policy instruments a central bank had to pay greater heed than in the past to the impact its measures might have on expectations and consequent decisions
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
bethlehem steel corp said it was disappointed by the downgrading of its debentures by standard and poors investment service
she added the company had no firm timetable on when a response might be received
the number of non farm payroll jobs rose 164000 last month after rising a revised 236000 in february
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
in the 90 minute speech to the congress lusinchi summed up the achievements of his administration which took office in february 1984
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
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
philippine telephone firm plans stock split
overall carter predicted beet plantings would rise in the midwest and this coupled with increases in california would increase us sugarbeet plantings slightly from the 1232 mln acres sown last year
county increases tesco stake in hillards
the statistics office had originally put the january current account surplus at 49 billion marks
bhpgms portfolio will include several australian mines 30 pct of telfer 100 pct of ora banda and browns creek and 20 pct of the new boddington development
company sources currently in talks with algeria agree saying that algerian lng would only serve to meet peak demand
conagra said the new company in which it holds a 45 pct stake will be called trident seafoods corp
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
s and p cut first amarillos 15 mln dlrs of subordinated debt to ccc minus from b minus
it forecast end 1987 stocks at around 290000 tonnes
qtly div 18 cts vs 18 cts prior pay april 15 record march 31
he said the bundesbank told him it was observing the situation to see if it should intervene in consultation with other central banks
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
for the year ended december 1986 the company reported a loss of 36 mln dlrs or 16 cts per share
phoenix financial phfc buys data access stake
on an unadjusted basis january payments showed a 52 billion franc deficit after a revised 71 billion december surplus
diplomats saw few potential targets in lebanon now that most americans have left in the wake of kidnappings linked to pro iranian groups
csr selling delhi to exxon unit drops delhi float
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
they feel its a different facility and so any kind of suggestion of a restructuring would look bad one banker said
the area sown was 123 to 130 mln hectares 103 to 152 pct less than the 145 mln hectares the previous season
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
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
intelligent systems mlp inp 3rd qtr dec 31 net
the issue is rated aaa by standard and poors and secured by federal home loan mortgage corp freddie mac certificates
century telephone ctl to sell properties
shr profit four cts vs loss 58 cts net profit 119000 vs loss 1629000 sales 184 mln vs 170 mln
it rose 83 pct last year
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
the company said its cp rail division reported 1986 net income of 1194 mln dlrs compared with 1334 mln dlrs in 1985
those exports of the single most important commodity carried on the waterway have been depressed by world surpluses
yeutter sees gatt consensus on farm trade reform
canon inc cannt year ended decmeber 31
texas eastern tex unit files for new rates
metro funding also said its subsidiary comet corp will be renamed maxcom usa
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
idb communications group inc idbx year net
sumita also said the economy will show a gradual upturn in the second half of the year if the yen remains stable
transcanadas announcement came as a surprise since dome was waiting for responses from creditors on its proposed refinancing packages gobert said
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
us housing completions fell 02 pct in jan
we expect to complete the package very quickly he said in a telephone interview
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
we perceive the current scandals as a warning of even worse things to come markey said
it will be built on 2964 acres and estimates put the cost as high as 10 billion dlrs
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
the placement will raise jardine strategics stake in dairy farm to 3975 pct from the current 353 pct
usx corp said proved reserves of oil and natural gas liquids fell 28 pct to 8028 mln barrels at the end of 1986 from 112 billion barrels at year end 1985
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
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
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
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
thailand exported 129 mln tonnes of rice so far in 1987 down from 139 mln tonnes a year ago
cbc said the merger will not affect citizens banks name management board of directors or employees
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
seasonally adjusted m1 money supply was also hardly changed at 9721 billion guilders in december compared to 9705 billion guilders in november
total investments fell 07 pct against a rise of 63 pct in 1985
the only us dollar deal launched during the day was as has been the case recently equity linked
one vertical drill hole intersected gold continuously from 1100 feet to 1730 feet averaging 030 ounces per short ton the announcement said
jack winter inc jwi 4th qtr jan 3 loss
kaneb energy kep may omit future payouts
offers on the soymeal and corn are due at 1530 hrs edt 1930 gmt oct 26 and will remain valid until 1000 hrs edt the next day the agent said
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
other gold exploration interests to be acquired by norgold are in western australia queensland new south wales and tasmania nbh said
sumitomo bank ltd said it established a 500 mln stg certificate of deposit cd issuance program arranged by morgan grenfell and co ltd
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
a japanese trading house recently bought about 31000 tonnes of soybeans for april 10 may 10 shipment they said
the us feedgrains council is surprised and disappointed by the canadian import tribunals decision that imports of corn from the us are materially injuring canadian corn producers a council spokesman said
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
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
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
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
gte services a unit of gte corp evaluated 23 competitive call accounting systems the company said
rotterdam grain handler says port balance rose
they would then stock it up at the next tender when the need is clearer he added
but the meat and poultry industries have said such controls would cost too much
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
lori corp lrc 4th qtr oper net loss
however the fca and financially troubled farm credit system have in the past been ambivalent about the idea
channon also called for increased us ec cooperation to avoid trade disputes
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
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
the debt is being offered via a syndicate managed by morgan stanley international credit suisse first boston and salomon brothers international
strober organization inc strb 4th qtr net
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
brazil makes second amazon oil discovery
the main crop represents about 85 pct of thailands paddy output
the transaction is subject to approval of the canadian radio television and telecommunications commission
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
non callable for five years the issue is rated b 3 by moodys investors service inc and b minus by standard and poors corp
independent estimates put total subsidies from all sources as high as 37 billion and the analysts said much of that money is wasted
the spokesman gave no estimate of what he thought the find discovered on wednesday was worth
taiwan dollar and reserves seen rising more slowly
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
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
the bond is available in denominations of 1000 and 10000 dlrs and will be listed in luxembourg
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
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
the agency said it will study the effect new products may have on upjohns earnings potential
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
advo system inc said it could report a break even second quarter ending march 28 1987 compared with a loss of 18 mln dlrs or 16 cts a share in fiscal 1986s second quarter ended march 29 1986
peripheral said its increased involvement in the development of nucells nuclear battery technology made the merger practical
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 superintendency of banks and the technical and judicial police have both begun probes of cambio la guiara azpurua said on friday night
northern air freight nafi gets rejects bid
mcdonalds issues 75 mln canadian dlr eurobond
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
huge oil platforms dot the gulf like beacons usually lit up like christmas trees at night
if approved two mln shares of stock held by the messidor ltd officers and directors would be issued to triton shareholders
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
the marketing year for began september 1
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
general partners said the offer which is due to expire april 14 is conditioned on receipt of sufficient financing and other conditions
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
it said general electric cos ge general electric credit corp and georgia pacific corp gp are selling the shares
us agriculture secretary richard lyng said it is too late to implement a full 0 92 acreage provision or decoupling for 1987 grain crops
an adb spokeswoman said the us had voted for a 200 pct increase in the banks capital but other votes were still coming in
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
hard red spring wheat accounts for most acreage with 60 mln estimated for this year little changed from last year
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 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
terms were not disclosed
they are payable march 31
the statement denied published reports that total job losses would amount to 9000 employees
household intl hi projects earnings rise
qtly div 25 cts vs 25 cts pay april 24 record march 31
the credit card operation services 115000 visa card holders and 35000 merchants in germany it said
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
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
the sichuan government has ordered that any work or meeting which interferes with the fight against drought must be cancelled or postponed to save time energy and manpower the peoples daily domestic edition said
john labatt ltd said it agreed to issue in canada 125 mln dlrs of 1987 adjustable rate convertible subordinated debentures maturing april 1 2007
nioc has sold its crude for march shipment to japanese customers with different formulas
goodyear gt chairman criticizes corporate raids
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
us personal income rose 02 pct in may spending up 01 pct
the company said it will retire 26 mln dlrs at par through operation of the debentures sinking fund
he says the worst thing that could happen is to allow monetary policy to spread a freakish increase in one commodity to the rest of the system and to other commodities
proposed offerings recently filed with the sec
bevis bevi receives takeover inquiries
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
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
brazils leading political party has expressed full support to president jose sarneys decision suspending interest payment of 68 billion dollars owed to private foreign banks
the par priced issue has an indicated coupon of between 5 1 2 and 5 3 4 pct
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
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
kansas city southern ksu merger response
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
kuwait had earlier declined an offer of us naval escorts as too public an admission of its need for protection they said
he told the national peoples congress chinas parliament that the countrys foreign exchange is limited and must be used where it is most needed
repayments were 240 mln dlrs after the previous 16 mln
the company did not give specific figures
earlier the bank said it estimated the liquidity shortage in the market today at around 155 billion stg
vms mortgage vmtgz cash distribution rises
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
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
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
state owned cie generale delectricite s electrical contracting unit cgee alsthom has taken a 34 stake in the us computer firm esca corp cgee alsthom chairman philippe boisseau told a press conference
us treasury secretary james baker said he believes brazil will strike an agreement with its private creditors
affirmed were the parents a 1 plus commercial paper and the bbb rated debt of the unit security pacific financial systems
the balance will be paid in october
earnings from its natural gas liquids business fell by 79 pct to 420 mln dlrs from 199 mln dlrs in 1985
also as part of the merger nolans 21 principals have become peat marwick partners the companies said
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
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
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
bank of japan intervenes soon after tokyo opening
bank negara said it subsequently took up the unsubscribed shares totalling 1355 mln of uabs new paid up capital of 22874 mln ringgit
rule declined further comment while the review was continuing
its in the waters where its supposed to be
terms were not disclosed
when asked if there is a rising danger of a worldwide trade war baldrige said yes i dont think theres any question about that
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
the us is urging reluctant commercial banks to seriously consider accepting a novel philippine proposal for paying its interest bill and believes the innovation is fully consistent with its third world debt strategy a reagan administration official said
a barclays national bank executive who asked not to be identified said the rise of the independents appears to be indicative of a potential shift of power in the national party and has created a favourable sentiment overseas one dealer said growing business and investor interest from west germany and switzerland were behind the financial rands rise
the company said its board considered information on the three and their bid and given the lack of any demonstrated ability on the part of these individuals to consummate an acquisition of this magnitude the board decided it was not necessary to take any action on their proposal at this time hospital corp said the benefits of the companys ongoing repositioning program are already being realized and we will continue to explore appropriate alternatives for enhancing shareholder value
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
some sources were optimistic a resolution on an extension could be passed tomorrow but others suggested a special session would be convened to adopt the resolution after the association of tin producing countries meeting april 14 to 16
sweden revises down januarys inflation figure
dome is trading at 112 dlrs per share down one ct today on the toronto stock exchange
toshibas timing seems most unfortunate for the company as it comes exactly when we are looking for someone to punch one 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
outboard marine om rising on takeover rumor
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
ministers also decided to continue talks with japan
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
sosnoff
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
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
sumita has said in the past that he expects the economy to show a gradual upturn in the second half of the year
eastover corp easts 4th qtr net
volvo group company proposes two for five issue
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
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
the chase manhattan bank a unit of the chase manhattan corp cmb said it acquired a portfolio of about 190000 consumer revolving credit accounts from atlantic financial federal atlfo valued at 370 mln dlrs
dranetz technologies inc dran year dec 31 net
rubber contracts are traded fob up to five months forward
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
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
chrysler corp and regie natiionale des usines renault said they agreed to extend by up to two weeks the period for reaching definitive agreement on chryslers proposed 15 billion dlr takeover of american motors corp
countrywide credit industries inc ccr 4th qtr
no indications of interest for the assets have been received so far emery said
ny bank discount borrowings 64 mln dlrs
oil accounts for up to two thrids of ecuadors total exoprts and for as much as 60 per cent of the governments revenues
ph glatfelter co says it will buy ecusta corp for 149 mln dlrs in cash
delta business systems inc said it has completed a previously announced merger into alco standard corp
gold prices retreated at midday but rallied before the close with support from the silver market which was approaching two year highs traders said
kdi kdi to buy triangle microwave trmw 
the bank of england said it had given the money market a further 186 mln stg assistance in the afternoon session
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
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
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
officials of pay n pak did were not immediately available for comment
the market was assigned all the 1500 billion lire worth of six month bills on offer after requesting a total of 1660 billion
give or take 10 pfennigs and all is fine not all analysts played down the significance of the remarks however
the dividend is payable april 8 record march 17 and the split would be payable may 7 record april 23
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
it said it anticipates a return to profitability in 1987 for its diamond bathurst inc dbh subsidiary which lost 62 mln us dlrs and underwent a reorganization last year and expects higher sales and earnings for its other north american packaging divisions
the last formal talks were on june 5
citicorp is saying you cant scare us with threats well make your loans non performing right now berger said
late last year the gevaert group of belgium and west germanys veba ag vebgf said they had each acquired a 125 pct stake in hapag lloyd from deutsche bank ag dbkgf and dresdner bank ag drsdf industry sources estimate deutsche and dresdner hapag lloyds majority shareholders held about 75 pct of hapag lloyds share capital before selling portions of it to gevaert and veba
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
the company has a broad new product pipeline in the industry and as far as i am concerned it is the most innovative company in the business he said
the great plains area will be the predominate area which well get signup in a usda conservation specialist said
enserch corp ens sets quarterly
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
the resolution will be introduced in the house next week by rep
japanese officials in turn pointed the finger at the huge us budget deficit as one of the main culprits for the trade imbalance
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
the issuers might then choose to do business with lower cost banks which are not subject to us or uk banking rules
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
on a seasonally adjusted basis we appear to be making some progress on getting exports down jardines rasmussen said
uk money market shortage forecast at 250 mln stg
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
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
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
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
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
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
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
it was imperative that alternative options be considered
however economists generally believe that continued fairly sluggish us economic growth and the financial strains on us banks resulting from their problem loans to developing countries rule out any fed policy firming
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
the momentum of industrial activity is tapering off as we end the first quarter said stephen roach of morgan stanley and co inc
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
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
tokheim tok sees improving sales in 1987
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
the proposed tax would not only be inflationary but also have consequences for employment and investment he added
the bond is available in denominations of 1000 and 10000 dlrs and be listed in luxembourg
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
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
trading in perpetual issues which pay interest but never mature has come to a virtual halt
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
hapag orders new container ship from china
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
banks have been indicating they will not renew credit lines in response to the brazilian move
1
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
the loan presently is about 985 pct committed
while an organization of petroleum exporting countries pact to curb production boosted oil prices early this year prices eventually fell
he also told reporters that many major nations yesterday intervened heavily to support the dollar against the yen
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
none of the terms were disclosed
us selling 132 billion dlrs of 3 and 6 mo bills april 6 to pay down 165 billion dlrs
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
petrie stores corp pst sets quarterly
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
champion products ch approves stock split
an additional 133800 tons of us barley are still available to israel under the export enhancement program announced june 17 1986 it said
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
but with cp air being run by eyton it will be very conscious of profitability and shareholder return
a severe drought and marketing problems cut exports last year to under 10 mln bags
under a merger agreement entered into in november tendered for up to 510 mln instinet common shares or about 45 pct of those not already owned by 
crude oil prices rose 44 pct in february after a 197 pct january rise and were off 213 pct from the year ago level
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
the us currency was subsequently being quoted at 14925 35
suburban bank of barlett claimed that the former directors breached their fiduciary duties and were negligent in opposing suburban bancorps tender offer in january 1985 costing bartlett state bank several hundred thousand dollars
we think the stock will do moderately better than the market he 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
canamax pacific trans ocean approve production
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
the share was around 253 marks today after a 650 drop to 252 yesterday
the current issues were yielding 571 70 and 576 75 pct respectively in early afternoon trading
licht last week estimated west german plantings at a reduced 385000 hectares against 399000 last year
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
in addition the agriculture department last week projected a substantial drop in soybean acreage this year
pentron corp said its rotational molding inc unit has purchased privately held ice creations unlimited for an undisclosed amount of cash and other considerations
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
listing singapore as a delivery point allows far eastern operators to deliver aluminium into a lme warehouse instead of having to cover
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
raymond said earlier that it could decide to close a french refinery
but he declined to comment on the prospects for action by the fed and the bundesbank
the roasters said the positions were generally fairly close and problems with some government officials
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 process is such that you cannot expect tangible progress in a short period of time one banker said
acton atn to sell unit for gain
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
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
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
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
brazil is the worlds largest coffee producer and exporter
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
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
certificates are also an important part of any export promotion program he said
the japanese economy will remain sluggish in the months ahead after turning in its worst performance for 12 years in 1986 private economists said
the finance ministry said then the amount was low but noted a number of unfavourable market conditions at the time
bennett who is leading one of three soybean delegations on a lobbying tour of ec capitals will also visit bonn on thursday and friday
in bond portfolios the money managers generally showed a preference for shorter term 10 years and under treasury notes and to a lesser extent agency securities rather than longer dated treasury issues and corporate bonds
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
shr profit 11 cts vs loss 28 cts net profit 515000 vs loss 1328000 sales 310 mln vs 321 mln avg shrs 4600199 vs 4815062 1st half shr loss 23 cts vs profit 10 cts net loss 1033000 vs profit 482000 sales 585 mln vs 621 mln avg shrs 4565752 vs 4883711 note 1986 half net includes pretax gain 4150000 dlrs from sale of option to buy facility
welbilt corp welb 4th qtr net
vhc ltd vhcl 4th qtr oper net
the placing has been arranged through allied irish investment bank plc at an ex dividend price of 371 irish pence per share
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
japans trade surplus in nominal terms is likely to remain high in the near future the central bank 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
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
gencorp gy unit completes wor tv sale
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
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
energy development said the transaction increases its units outstanding to 126 mln and raises total proved reserves as of the end of 1986 27 pct
it would have been around five billion marks higher still if currency relationships had remained unchanged
by striking swift deals banks hope to reduce the incentive for other debtors to emulate brazil
all legitimate debt is a commitment of honour the president said during a visit to the quake zone
japanese crushers buy canadian rapeseed
the pipeline contruction is the second phase of the peninsular gas utilisation project by petronas malaysias national oil company
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
uk base rates will fall again soon say analysts
last week yields fell to around 550 pct not far from the 1986 low of 535 pct posted in mid april
ontario treasury bill yield rises
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
elders grain inc of kansas took a 33000 tonne shipment at 9606 dlrs per tonne for december 1 15 delivery
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
sunyou intercontinental hk ltd has finalised the one billion hk dlr loan for its hotel and office complex in the kowloon tourist district lead manager standard chartered asia ltd said
dart said it sold 14 mln dayton hudson shares expects to sell rest of holding
wilfred american educational wae regular div
sumita said the currency market has been reacting to overseas statements and to trade tension between japan and the us over semiconductors
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
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
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
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
precious metals climate improving says montagu
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
rada bought its stake for 5055 mln dlrs from wattie industries ltd last year but it has not disclosed the price to be paid by amcor
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
bankers said the reserve requirement increase could have some impact on commercial lending rates but should not hit the money market too hard
i would doubt they would greenmail them but nothing surprises me anymore said rose
they told local banks may decide on the increase at this weekends routine meeting of the hong kong association of banks
cpc said ajinomoto has purchased its equity in knorr foods co ltd a joint venture in japan between the two companies with cpc to get fees for trademark and technology use
consumers power cms debt raised by s p
he has also said he would be unable to seek control of myers unless he gets financing
they have to realise their share of the home market is going to shrink with growing deregulation he 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
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
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
but most measures of financial risk deteriorate it said
the government announced last week that japan had a 59 billion dlr trade surplus with britain in 1986
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
commonwealth mortgage ccmco 4th qtr net
nz current account deficit narrows in january
that is why i have refused to continue subsidising them in the way that we have done in the past he said
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
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
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
borg warner agrees to buyout by merrill lynch firm
japan development bank issues 150 mln dlr eurobond
commerce secretary malcolm baldrige said the us trade deficit should start to decline soon possibly in the figures for february or march
telequest inc telq 4th qtr dec 31 loss
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
the white house economic policy council decided to recommend trade sanctions against japan for violations of the us japanese semiconductor agreement industry sources said
corrected insituform of north america inc insua 
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
duqusne has baa 1 senior debt and preferred stock and baa 2 debentures and preference stock
trade house c czarnikow recently estimated production this year at 750 mln tonnes
year ago restated
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
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
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
tin council winding up verdict appealed
the suit was filed in new york because trading allegedly took place here
total loans and advances rose 13 pct to 52374 billion dlrs from january when they were up 33 pct
finance minister radius prawiro said recently that the increase in ec duties would add a new burden to asean countries at a time when they were trying to strengthen their economies in the face of lower commodity prices
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
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
shr 15 cts vs 13 cts net 1352000 vs 1210000 revs 5953000 vs 3309000 nine mths shr 36 cts vs 27 cts net 3257000 vs 2416000 revs 166 mln vs 9705000 note if fasb adopts accounting changes then 1987 3rd qtr per share results will be restated to 22 cts and 54 cts a share for 1987 nine mths
labor dept reports us real earnings rose 06 pct in feb after being unchanged in jan
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
clark copy international buys w
municipal financial corp mfcto six mths net
the compromise requires that buffer stock purchases from non icco member countries cannot exceed 15 pct of total buffer stock purchases delegates said
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
allied products corp adp year net
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
brenda mines selling kerr addison shares
business sales dropped 45 pct in january the largest monthly sales drop on record
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
some 3930 blocks encompassing about 21 mln acres are involved in the proposed sale
indonesia signed an agreement to borrow up to 150 billion yen in an untied yen loan from japans governmental export import bank a bank spokesman said
italian certificate offer has higher yields
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
chartered bank net foreign currency assets rose 782 mln dlrs to minus 876 mln dlrs
exercise requiring one days notice must be for a minimum of 100 warrants through one currency only
sight deposits of commercial banks at the swiss national bank rose 7437 mln swiss francs in the second 10 days of march to 840 billion the national bank said
the funds raised will be used to increase the banks investment loan offer for small and medium sized companies
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
the dollar was being quoted at 60950 70 francs in early afternoon dealings after a fix of 609425 francs
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
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
asked whether a dollar yen rate of 148 or 149 reflected economic fundamentals he said current rates almost reflect fundamentals
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
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
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
proceeds will be used to retire commercial paper to repay some long term debt and for general corporate purposes
canada 91 day t bills average 689 pct making bank rate 714 pct
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
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
oracle corp orcl 3rd qtr feb 28 net
twa has the best cost structure since icahn succeeded in winning concessions from its unions
gainsco inc gain 4th qtr 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
average borrowings by these banks were 142 mln dlrs in the first week of the period
rusnak has been apointed president succeeding charles miller who continues as chairman
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
the company also said it has retained dean witter reynolds inc to assist in raising the balance of the financing
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
shearson which originated the new convertible concept said each of the three tranches totaled 75 mln dlrs
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
this compares with an historic average for this time of year of 20 pct
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
the selling concession is 1 1 2 pct while management and underwriting each pay 1 2 pct
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
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
lawson tells panel he wants sterling to stay around 160 dlrs 290 marks
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
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
the committed portion carries a facility fee of five basis points and a margin of ten
talks on the 215 billion dlr lona began in january
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
newman has electric motor operations in the uk and australia
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 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
the commodity credit corporation ccc announced 15 mln dlrs in credit guarantees previously earmarked to cover sales of dry edible beans to honduras have been switched to cover sales of white corn the us agriculture department said
qtly div six cts vs 4 1 4 cts prior pay april 10 record march 23
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
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
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
silicon systems inc slcn 2nd qtr march 28
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
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
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
theres no shortage of possibilities
the measure was published today in the official state gazette
while world group turnover rose 72 pct to 388 billion marks in 1986 incoming orders were barely changed at 391 billion marks
they gave no details on amounts or prices but said it would be a major order
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
the louvre accords agreed in paris last february called for stability among the major currencies after a prolonged dollar slide
there were five grain ships loading and three ships were waiting to load at portland according to the portland merchants exchange
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
elder beerman stores corp eldr 4th qtr feb one
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 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
japan and west germany today reiterated that neither planned further interest rate cuts despite pressure from the us to do so mackoff said
he declined to say what action the us would take next april if japan continues to resist us demands
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
abbott abt sees gains from weaker dollar
now that transco has refused to transport cheap spot gas for them these distributors are likely to be more conciliatory on the inventory charge he said
more
the ec plan will be presented at the next meeting of uruguay round agriculture negotiators in geneva on october 26
theres been some heavy profit taking on sterling mark ahead of next tuesdays uk budget said james mcgroarty of discount corp
diceon electronics inc said it has entered an agreement in principal to buy closely held symtron corp in a stock exchange transaction
occidental petroleum corp said the size of its underwritten offering of common stock was increased to 33 mln shares from the proposed 30 mln
belgian three month treasury certificate rate cut 010 points to 740 pct official
the selling concession is one pct while management and underwriting combined pays 5 8 pct
sprinkel said cutting the budget deficit was the best way to lower the trade deficit
the federal reserve has to be pleased with this report carson said
analysts say if the banks do not intervene effectively the paris accord could collapse
the banks are said to be firm on the 1 1 8 points offered when the last round of negotiations collapsed on november 7
cbs issues 400 mln dlrs in convertible debt
much of the search for new gas reserves is likely to be conducted in the offshore waters of the gulf of mexico where federal leases on unexplored areas will revert back to the government unless drilling begins in the next two or three years
thrifty rent a car system inc tftyo 4th qtr
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
hicks haas group has spectradyne spdyo funds
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
kinder care inc projected its 1987 earnings to be 44 mln dlrs
rambaud said the company would pay a 1986 dividend of 525 francs unchanged on 1985
the new market should stimulate the local economy
japan rating agencies in battle with us giants
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
some 650 mln drls of outstanding debt is affected
aaron spelling productions inc sp 2nd qtr net
economic spotlight polish sanctions
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
unocal ucl raises crude oil postings
the meeting was attended by representatives from brazil mexico guatemala el salvador honduras costa rica and nicaragua
the payment was in all the circumstances reasonable proper and fully earned
newly privatised financial services group cie financiere de paribas paripa said it will call an extraordinary general meeting of shareholders for the authorisation to issue various share and bond issues over periods varying between one and five years
computer consoles inc ccs 3rd qtr net
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
bank building said the joint offer is for 780300 shares of bank building stock at 14 dlrs a share
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
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
the main factor in the january revision was contracts and orders for plant and equipment the department said
holder communications corp said it agreed to buy five privately held companies with combined 1987 revenues expected to be about 25 mln dlrs
reagan said there were recent signs japan was beginning to adhere to the pact and that was why he was not terminating it
brazil also proposed the end of spreads and conversion into bonds of part of the 70 billion dlrs owed to private banks
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
electrohome elxto to sell unit
but in fact the dollar has been relatively stable since the pact
a sinking fund beginning in 1998 to retire annually five pct of the debentures can be increased by 200 pct at the companys option
the market was originally forecast to open with average five stg gains from last night following new yorks firmer close yesterday dealers said
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
chuck fields of the american farm bureau federation said livestock producers were desperate because they fear they will be unable to retain the many illegal aliens who have joined that industry
a union spokesman in rio de janeiro said the seamen had accepted a 120 pct pay offer from the companies globo and flumar which have less than 200 employees each
the qtr and year to date results include the operations since the end of october 1986 of a business purchase from martin marietta corp ml in fiscal 1987 ending may 31 the company initially adopted fasb statement number 86 and as required capitalized certain software deveopment costs
she estimated 1987 earnings of 250 dlrs per share up from 201 dlrs per share
raven industries rav buys truck body business
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
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
atlantic richfield cos stock rose sharply after analyst eugene nowak of dean witter reynolds inc raised his earnings estmates of the company traders said
people rush to judgment but once they get to know greenspan im sure theyll find him an excellent replacement said hormats a former administration official
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
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
qintex said as a result it has extended its tender offer for princeville shares until april three
barnett banks bbf files against federal board
penneys store and catalog sales declined 13 pct overall and dayton hudsons overall sales rose 48 pct
conrac said it would make a recommendation by april 17
singapores uic to buy into teck hock coffee firm
it also said it expects revenues for the year to exceed 30 mln dlrs
306 298 kansas city 287 317 st
altron inc alrn 4th qtr jan 3
japanese crushers bought 5000 tonnes of canadian rapeseed in export business overnight for late may early june shipment trade sources said
of the 29 mln dlrs the insurance carrier will provide for the civil settlement 750000 dlrs will go to settle a derivative lawsuit
it added that other japanese banks may participate in future issues
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
bell group issuing 200 mln in convertible bonds
moodys investors services inc said it downgraded 200 mln dlrs of long term debt of zenith electronics corp
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
although good flowering had followed the onset of rains in mid february subsequent pod setting was dissappointing
dairy farm bids 1466 mln stg for 22 pct kwik save
cominco said the sale was part of its previously announced policy of divesting non core businesses
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
the vessel subsequently arrived at its destination of ras tanura on may 25 and left this morning
senior us economic officials disagree on the likelihood the government can meet its budget deficit reduction targets
taft broadcasting rejects 145 dlr per share buyout offer from theta corp
wilfred american educational corp wae 4th qtr
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
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
eight pct headed vs 27 pct a year ago and 17 pct average
bundesbank sees no change in monetary course
braniff bair march load factor off
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
o
prime medical pmsi says merger talks end
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
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
paxar corp paks makes acquisition
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
bull and bear group a bnbga cuts fund payouts
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
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
one us bank trader said it could have been up to 500 mln dlrs but said this was largely a guess
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 rating agency will focus on fords long term competitive business and financial condition
dim sa a hosiery manufacturer had 1985 sales of about 260 mln dlrs
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
speaking after talks with the committee here gros also said he did not expect to make interest payment to the banks at this moment
cargill uk strike talks postponed
it added that portugals current account was forecast to show a surplus of 400 mln dlrs this year compared with 113 billion in 1986 and 369 mln the previous year
the plan will also urge the government to double 1985s official development assistance to 76 billion dlrs within five years instead of seven as the government had promised senior ldp officials said at a press conference
the 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
oper shr profit nine cts vs loss 26 cts oper net profit 313000 vs loss 860000 revs 188 mln vs 164 mln year oper shr profit 45 cts vs loss 47 cts oper net profit 1543000 vs loss 1582000 revs 727 mln vs 614 mln note current qtr and year figures exclude losses from discontinued operations of 179000 dlrs or five cts per share and 901000 dlrs or 27 cts per share respectively
greece bought a total of 55000 tonnes of french maize when it tendered yesterday initially for 30000 tonnes of april delivery trade sources said
genossenschaftliche zentralbank ag gzb said that it had increased its three part bond issue to 18 billion schillings from the 15 billion orginally planned
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
he said exchange rates have been stable so far in 1987 as a result of the accord
its a great place to run a business he added but its a hell of a place to do business with government the study concluded that chevron which mergered with gulf oil in 1984 would benefit in the long run from the restructuring activity
coastal cgp crude posting up 50 cts bbl
the communication was sent through switzerland which represents us interests in iran
the columbia gas systems inc said it will redeem 47 mln dlrs principal amount of its 9 1 8 pct debentures series due may 1 1996 and five mln dlrs principal amount of its 10 1 4 pct debentures series due may 1 1999
the meeting took place on the eve of the annual meeting here of the inter american development bank
for 1986 norstar issued 131 dlrs annually in cash dividends on its common stock
tom harkin d iowa offered the proposal as an amendment to a farm spending reduction package
payment date is april 15
shr two cts vs nine cts net 86469 vs 325937 revs 5119637 vs 6390995 12 mths shr 10 cts vs 33 cts net 354820 vs 1148476 revs 212 mln vs 232 mln
norris oil co noil dec 31 year loss
magellan did not disclose the terms of the agreement
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
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
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
merrill lynch europe ltds kevin regan defends the medium tranche tap notes concept saying it offers comparable liquidity
the facility was proposed by rep
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
metromedia co said it purchased from time incs tl home box office inc a warrant to purchase 800000 shares of common stock of orion pictures corp opc the price for the warrant was 10 mln dlrs metromedia said
these rates were in all cases unchanged from previous intervention levels
he told reporters following the release of the companys 1986 figures that project expenditure would also remain at 1986 levels
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
national westminster bank plc said it has cut its base lending rate 05 percentage points to 105 pct today
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
the pound was seen staying between 290 and 293 marks for the next days dealers said
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
halliburton is the best value said jeffrey freedman vice president at smith barney harris and upham inc adding the company controls the greatest amount of liquidity of common stock market value is diversifed in non oil field businesess and has the lowest multiple of stock price to operating cash flow including debt
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
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
the dollar sank to 14475 yen in early tokyo trading
the figures confirm provisional data issued by the bank two weks ago
baker has said his own plan was broad and would embrace new innovative ideas bringing together debtors and creditors
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 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
industrial equity has 54 pct of triton oil 
thoratec laboratories corp year loss
refinery crude runs in the four weeks were 1190 mln bpd up 14 pct from 1174 mln a year earlier it said
this takes the banks total help today to some 537 mln stg and compares with its estimate of a 700 mln stg shortage
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
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
tokyo is expected to propose a joint us japan investigation of american claims that japanese companies are dumping cut price chips in asian markets
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
david anthony a smith barney analyst said it is possible shearson would be partially sold to the public
on line osii sells convertible debentures
conoco raises crude oil prices up to one dlr barrel wti at 1750 dlrs
windfall profits taxes on bass strait crude are no longer appropriate in the current economic climate story said
in its supply demand report the usda raised its estimate for 1986 87 soviet grain imports to 26 mln tonnes from 23 mln
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
non callable for two years the debt is rated baa 3 by moodys and bbb plus by standard and poors
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
norsk hydro operator of the oseberg field said test output at the field from the mobile production ship petro jarl totalled 1719 bpd last month down sharply from 16170 bpd in august
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
it said the structures also provide long life without the need for rust protection
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 cost of this approach is that the much needed revival of business investment will be further postponed it said
this sum is being financed by a term loan
the last trade deficit was a 428 mln shortfall in 1982
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
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
woodwards ltd wdsato 1st qtr may 2 loss
but he added generally we feel very good about the bipartisan consideration of the trade legislation
it also had some effect in undermining the banks role in the global debt strategy the sources said
swedens competitive position was also seen at risk from accelerating wages
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 takeover partnership said it has asked to meet with gencorp to negotiate a repeal of the companys poison pill plan
present management is expected to continue to operate lieberman the company said
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
details of which loans will be repaid have still to be decided
cray cyr gets 66 mln dlrs order from bp bp 
a teamsters union agreement to certain labor contract conditions remains to be resolved under the pact
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
he pointed to the 33 pct growth in non oil gdp in 1986 and to a moderate 12 pct inflation rate
gross national product grew 13 pct in the fourth quarter
trans world airlines said carl icahn withdraws acquisition offer
nakasone told reporters he did not expect us policy to change after volcker steps down
azure ventures to buy advertising unit
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
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
john fairfax ltd ffxas first half
the last published figure for foreign exchange reserves was 1037 billion dlrs at end september 1986 down from 1047 billion at end june and 1259 billion at end september 1985
us minerals said it has a 50 pct net profit royalty interest in the mine after payback of development costs
it estimated 1985 86 output at 1613 mln tonnes vs 1613 mln last month
awards will be based on whichever method is most cost advantageous to the goverment at the time the awards are determined
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
the highest corn plantings reported in the 60 years that usda has kept such records was in 1932 when farmers planted 113 mln acres and obtained average yields of 265 bushels per acre
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
paul minn
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
iranian oil minister arrives in algeria
goulds pumps inc guld sets regular payout
uganda pulls out of coffee market trade sources
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
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
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
last year south korea had a trade surplus of 71 billion dlrs with the us up from 49 billion dlrs in 1985
the payment date is april 27
cominco ltd lowers price of lead metal
credit volume 3263 billion marks vs 3351 billion
the yen could rise to 140 yen to the dollar a leading japanese businessman said
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
it also will start nonstop service from san antonio to las vegas and increase service to orlando fla it said
belgium decided two minesweepers en route for the gulf would stay out for the time being following mondays us action
an additional 7959 head of dairy cattle are still available to egypt under the export enhancement program initiative announced september 12 1986 it said
dixons said it has waived its condition that 80 pct of the fully diluted outstanding shares be validly tendered and not withdrawn
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
the tender quota in april september is 10 pct of the agencys beef import share
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
the notes which are guaranteed by sumitomo bank ltd can be called at 101 1 2 from september 27 1989
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
shr loss two cts vs loss five cts net loss 17334 vs loss 51507 sales 245560 vs 179839 avg shrs 1136785 vs 1046785 six mths shr profit four cts vs loss 17 cts net profit 47749 vs loss 174373 sales 721937 vs 284809 avg shrs 1136785 vs 1046785
the bank also amended other aspects of plans to strengthen its supervisory powers over banks in the paper which called for comments from professionals by march 31 to allow their possible inclusion in the banking bill in time for its planned final discussion in parliament scheduled before summer
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
sun co sun announced that it would make a 50 cts a barrel increase late friday bringing wti to 1900 dlrs a barrel and traders said that other oil companies could be expected to increase prices
he did not provide details
reagan administration officials have been saying that the impact is now beginning to show up although it has been much slower than expected
terms were not disclosed
a 130 mln dlr world bank loan will be used to build 12 new berths incorporating container handling systems at the northeast china port of tianjin the agency said
the rights which will expire 10 years later will entitle shareholders to buy one hundredth of a share of a new series of preferred at an exercise price of 20 dlrs
chronar crnr closes 20 mln dlr placement
ransburg corp rbg 1st qtr feb 28 loss
world prices are still below polish production costs and there is no way to convince farmers to increase the area above the already signed contracted level
banking sources said it appeared that jordan had made an exception in rafidains case allowing it longer to comply
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
interest rates remain unacceptably high in real terms gurria added
oecd officials said the agreement was based on a provisional accord reached in january subject to ratification by member governments
the selling concession is 1 3 8 pct while management and underwriting combined pays 5 8 pct
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
kuwait may re register gulf tankers newspaper
trilon declares stock dividend
first montauk securities corp said it has reached a preliminary merger agreement with mcc presidential inc
grade 97 octane with 015 gm lead will be 968 cents litre against 94 cents previously for 04 gm lead
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
exports rose to a record 693 billion last month from 620 billion in january
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
lilco lil revises 1986 net to include loss
domestic interest rates now at record lows offer little investment opportunity
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
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
it asked for comments on the proposal by april 20
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
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
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
he said the opec secretariat in vienna was finalizing these figures
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
gateway medical systems inc 3rd qtr loss
china is negotiating with pakistan to buy 5000 tonnes of cotton this year after importing the same amount last year under a barter agreement chinese consulate sources said
terrano corp trno year dec 31 oper net
previously it had sought all shares
qtly div 14 cts vs 125 cts in prior qtr payable april 18 record april two
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
overseas sales accounted for 682 pct of the total in the three months compared with 713 pct a year earlier
a company spokesman would not elaborate
that is 170 basis points below comparable new zealand rates
a spokesman for unilever plc unas declined to comment on market rumours that it may be considering a bid for the us health care group the gillette co gsn gillette shares are traded on the over the counter market in london and this morning stood one dollar higher at 38 dlrs in response to the bid speculation
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
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
the plant will use a chemical process called leaching to extract the residual gold which could not otherwise be economically recovered
adobe adb high plains hpoc to merge
quebecor issues 60 mln dlr convertible bond
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
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
there were only trace amounts of platinum and palladium the company said
that offer was to have expired today
a higher dividend had been anticipated because deutsche babcock has said in the past that it will only raise capital when it can make a lasting improvement in the dividend
under the agreement the awb makes the wheat available and sells into the food agencys regular tenders he said in a statement
for the full year 1986 the index base 1963 stood at 166 after up four pct from the 159 recorded the previous year
smith barney analyst cuts hercules hpc rating
the plan along with a proposal to change its name to cooper cos inc will be submitted for shareholders approval at the companys annual meeting on june 22
a restrictive monetary policy would hit investment
berliner bank outlines losses
s and p cited earnings improvement better capital recovery a stable construction program and a sophisticated network as well as financial improvement
volcker pushes spending cuts over trade bill
middle east currency dealers meet in abu dhabi this weekend at a time of fundamental change in their business which has seen a growing volume of trade shift from the arab world to london
economists stressed that gains in hours worked signal much larger gains in february us production and income than previously forecast
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 federal agency said year over year production was off 065 pct in december compared with a decline of 165 pct in november
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
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
labour trouble threatens the beet crop in spain
conseco cnc to buy beneficial bnl unit
this has hurt cane sugar refiners who rely on imported sugar processing
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
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
natural gas output in 1986 was 343 billion cubic feet per day down from 36 billion in 1985
the english language paper said the bureacracy was not aggressive or imaginative in responding to indonesias economic problems which include fiscal restraints due to drastically declining oil revenues increasing unemployment and marketing problems for its major export commodities
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
japan buys modest amount of dollars dealers say
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
wti now 1700 dlrs bbl
the banking information service said the adjusted rise of 16 billion stg was well above the recent monthly average of about 10 billion stg
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
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
honeywell hon debt rises on sperry buyout
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
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
baker to support this agreement he said
the pipeline was shut down from cushing okla to witchita falls kan on saturday due to an undetermined leak at the red river crossing near the oklahoma texas border because of severe rains a spokesman for texaco said
sncf issuing three billion franc domestic bond
senior banking sources noted that the surge in bank lending was evidence of the continuing recent trend of fairly heavy personal sector borrowing
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
shares were last quoted at 856 francs on january 9
although laser expects to post earnings from operations for the year a spokesman said they might be wiped out by legal costs depending on the length of litigation
in volume terms however 1986 sales rose slightly against 1985 the company said without giving details
qtly div four cts vs four cts prior pay april 15 record march 31
kaneb energy kep says jury rules for it
goodyear gt predicts first quarter net
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
gte corp gte 3rd qtr net
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
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
american dynamics amdc to sell 51 pct stake
sarney reiterates that brazil will not go to imf
p goenka president of the federation of indian chambers of commerce and industry
qatar an opec member has an output ceiling of 285000 barrels per day
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
oper shr loss 31 cts vs loss 30 cts oper net loss 5429000 vs loss 5216000 revs 2575 mln vs 2436 mln avg shrs 175 mln vs 135 mln year oper shr loss eight cts vs profit 28 cts oper net loss 1324000 vs profit 4067000 revs 9895 mln vs 7479 mln avg shrs 176 mln vs 157 mln note 1986 operating net loss excludes income from discontinued operations equal to 11 cts in the quarter and 66 cts in the year compared with 107 dlrs in the quarter and 123 dlrs in the respective periods of 1985
the trade credits stood at 210 million dollars when garcia took office on july 28 1985 and announced foreign debt payments would be limited to 10 pct of export earnngs
zenith laboratories inc zen 4th qtr loss
shr 25 cts net 3081000 vs 2063000 nine months shr 86 cts net 105 mln vs 6966000 assets 143 billion vs 130 billion deposits 9125 mln vs 8758 mln note company converted to a stock savings bank on aug 13 1986
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
he said news of strong growth in exports of non oil goods confirmed recent bullish surveys among members of the confederation of british industry
schering said it will retain dr
japanese finance minister kiichi miyazawa told a press conference he expects the us trade deficit to eventually start reflecting economic fundamentals which should influence exchange rates
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
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
payment date is also march 25
the average payment per employee was more than 2100 dlrs compared with 1200 in 1985
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
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
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
japans ruling liberal democratic party yesterday outlined a package of economic measures to boost the japanese economy
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
according to cbc union reported shareholders equity of nearly 190 mln dlrs for the period ending march 31
stability in oil prices should lead to renewed investment paues said
dollar general corp dolr 4th qtr net
ec commission declines comment on sugar offer
they have no place to send the grain he said
the price was not disclosed
rubio said he was aiming for the lower end of the range
mono also said options to buy up to 300000 dlrs of its capital stock at 65 cts per share expire march three
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
the exact size of the us program has not been decided and the dealers have not yet been chosen
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 increased its estimate of soviet 1986 87 grain imports to 26 mln tonnes from last months projection of 23 mln tonnes
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
sumita says major nations will continue to cooperate to stabilize currencies
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
the terms of the transaction were not disclosed
congress may curb us aid to development banks
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
mccormick and co inc mccrk 1st qtr feb 28 net
silver state mining corp ssmc 4th qtr net
pacific nuclear systems in pacn 4th qtr loss
in 1986 it refined 20 mln gallons of used oil
loans to non bank customers increased to 401 billion dlrs in january from 387 billion in december and 369 billion in january 1986
but a cable spokesman said it still believed a merger of the two consortia would be impracticable
belgium launching unlimited euro cp program
burma says debt service ratio falls to 488 pct
it said corrective measures will be implemented to prevent a recurrence
the company today reported a 1986 loss of 1544000 dlrs compared with a 1985 profit of 3912000 dlrs
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
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
terms were not disclosed
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
household international inc said it expects its fully diluted earnings per share for the first quarter to be about 35 pct above the same year ago period
unilateral intervention itself cannot ensure currency stability but it can be useful when coordinated with other policies and with other central banks he said
miti officials who declined to be identified said the ministry has not yet decided on the extent of the second quarter cutback
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
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
west german consumption of oilmeals and oil cakes last year rose by 24 pct to 63 mln tonnes the agriculture ministry said
the united states and japan will soon settle their trade dispute over semiconductors us commerce secretary malcolm baldrige said on television
shearson has agreed to provide bridge financing of up to 600 mln dlrs for the edelman group
no further details were immediately available
uk money market given 15 mln stg afternoon help
over 97 pct of the loan has been subscribed but dozens of smaller banks are still baulking
clearly it can go head to head in any market the new airline which arose from the 300 mln canadian dlr takeover of canadian pacific air lines ltd by the small but cash rich pacific western airlines corp was launched last week as canadian airlines international ltd
commercial banks have tended to be rather difficult in terms of new money for some time now he told reporters at a news conference
first union real estate investments fur net
but the new market is unlikely to attract many overseas investors particularly as non residents will be subject to a withholding tax on interest earned loh hoon sun general manager of overseas union bank ltd said
the 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
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
general electric ge to redeem rca corp notes
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
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
voplex corp vot 1st qtr mar 31
japans 586 billion dlrs trade surplus with the united states last year has come under fire in congress which is concerned about the loss of jobs to foreign competition and with the record 169 billion dlrs us trade deficit in 1986
proceeds will be used to repay outstanding debt incurred to finance recent acquisitions the soft drink bottler said
under the agreement akzo will acquire the household product activities of the lyons based rhodic and remalard based buhler fontaine units of rhone poulenc
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
penril said shareholders at the annual meeting approved the limitation of directors liability
i am sure that if such a management buyout is to occur and i am hopeful that it does the public market is one of the avenues we will ultimately have to use to raise capital brooks said
chemlawn now has about 100 mln shares outstanding
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 had not taken this view after earlier clashes
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
finance from official lending agencies had been virtually closed since 1982
a warrant gives the holder the right to purchase one share of lilly common at 7598 dlrs
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
sun raises crude postings 50 cts effective today wti to 1750 dlrs bbl
earlier today sun co sun phillips petroleum p and diamond shamrock dia also said they raised their crude postings 50 cts a barrel bringing their wti contract price to 1750 dlrs a barrel
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
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
montgomery street income mts monthly dividend
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
treasury financial secretary norman lamont made the announcement to parliament
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
it said it would buy back the convertible debentures at 109094 dlrs per each 1000 dlr face amount including accrued interest
wish said refineries will stockpile production before the shutdowns to maintain normal supply while maintenance is carried out
balladur insists on maintenance of louvre accords
he expects re classification of as much as a third of the loans as non accruing and he sees partial write downs of some loans
the purchase completes the export enhancement initiative for frozen poultry to iraq announced december 22 1986
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
on tuesday it rose 1 3 8 to 31 1 2 tuesday
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
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
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
trade sources in rio today said brazils future export policy was unlikely to be revealed before the end of next week
a minor tax payment period on behalf of customers mid month the long easter weekend and pension payments were unlikely to tighten rates significantly
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
the official mti news agency said the government decided consumer price subsidies had to be cut to reduce state spending
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 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 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
last year the government announced a major program designed to cut 1987 spending by 195 billion francs
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
both properties located in southern utah consist of approximately 1430 acres of unpatented mining claims and one state lease it said
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
based on data for the week ended april 9 the adjusted world price for upland cotton is determined as follows in cts per lb northern european price 6288 adjustments average us spot mkt location 998 slm 1 1 16 inch cotton 180 average us location 053 sum of adjustments 1232 adjusted world price 5063
australian reserve bank in buying intervention
jiji quoted the sources as saying that current bond market yields are similar to short term interest rates due to excessive speculative operations
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
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
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
ganilau said this will be at least one month in advance of the expected date of payment of the second payment of cane
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
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
ussr adds us corn to commitments usda
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
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
at 40 dlrs they told the commission they had bought their new purolator shares march 25 27 for 34875 35250 dlrs each
subscription closes march 23 payment is april 15
they also said there was some speculation that if bpccs bid for harcourt was unsuccessful it could turn its attention to reed
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
ec member states cool on cereal plans
the paper said japanese agriculture has been slow to improve productivity and demand supply imbalances
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
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
primark corp pmk regular dividend
the company also said it has agreed to repurchase up to three mln common shares on the open market
terms were undisclosed
italian balance of payments in deficit in may
president reagan was ready to impose retaliatory trade action against japan for breaking its semiconductor agreement with the united states white house officials said
north west telecom nowt 4th qtr oper net
the agency cited potential benefits of chryslers proposed acquisition of american motors corp amo to its business position and marketing and distribution capabilities
a copy of the letter was made available to 
the farm sector which is protected by import tariffs and quotas propped up by subsidies and price supports and sheltered by the tax system has ample room for change they said
gephardt a missouri democrat told he was not certain the exact form his trade surplus reduction proposal would take
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
argentine 1986 87 grain oilseed registrations
peoples telephone signs pact with southland slc 
manufacturers hanover would also to act as agent for a bank group to raise the rest of the financing usair said
listing is in frankfurt the bank said
soviet flag tankers transporting kuwaiti oil through the gulf may get soviet escorts the officials said
it said the acquisition brings its ownership in morning to over 94 pct and it intends to acquire the remaining interests before mid year
none of the details contained in todays negotiations was immediately available
the officials said the tariffs would be ended as soon as japan started adhering to the agreement
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
in announcing a four month wage and price freeze argentine officials said the country needed a more serene climate to carry out structural changes in the economy
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
orders on hand at end 1986 totalled 364 billion marks against 332 billion at end 1985
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
provision for loan losses rose to 138 mln dlrs from 130 mln a year earlier
turning to its defense operations reichert said he expects the division to receive significant contracts in the near future
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
allieds shares were 3p up at 401p which values the company at around 275 billion stg
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
merrill lynch mer debt downgraded by moodys
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
india took three cargoes of rbd olein at tender
bank of japan to sell 300 billion yen in bills
shr 186 dlrs vs 185 dlrs net 1923304 vs 1897998
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
qtly div nine cts vs nine cts prior qtr pay nov 25 record nov 13 note full name is international research and development corp
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
that i think is the real significance of this consequently analysts said the japanese government might now feel more pressure to address us complaints about japanese chipmakers violation of the semiconductor trade agreement signed last summer
emerson electric co said it will issue about 56 mln dlrs us 1855 pct notes due 1989
management science msai loss may top 20 cts
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
that selling largely came to an end this morning after about one hour of trading here the senior official 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
animal feed ship on fire again at chinese port
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
by using currency and rate swaps companies can sell debt that pays a high interest rate in a foreign currency like australian or new zealand dollars
few trains were running and some early morning flights by sabena belgians national airline were cancelled
other factions ignored mpt in the 1970s but the tanaka faction was forward looking and recognized the importance of mpt uchida said
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
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
this slightly revises a previous deficit figure of 3717 billion issued by istat and compares with a negative balance of 23085 billion for 1985
terms of the acquisition were not disclosed
prior to the change county prices were also priced against the amarillo market
january exports fell from 73164 to 35910 tonnes
it said it already holds 191 mln of tmocs 25 cent par shares
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
the company said it is redeeming the debentures to meet mandatory sinking fund requirements
japan approves aid for indonesia brazil aluminium
monod said metropole aimed to win a 15 to 20 pct audience share and to capture about 10 pct of the national television advertising market
the chrysler treasurer said that the corporate paper had typically an 18 year maturity
the company said the study found proven ore reserves of 3302000 short tons grading 0077 ounce of gold per ton
it is not uncommon for companies which are aware that they or their officers are the targets of government probes to acknowledge the existence of the otherwise secret investigations to fulfill their legal disclosure requirements to their shareholders
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
ge credit said the bank of new york will be the redemptions paying agent
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
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
combined internmational pma sees strong 1987
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
usda would have to certify that the plants had corrected the deficiencies
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
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
those who sow wind cannot expect the whirlwind to visit elsewhere he added
chesebroughs footwear and tennis racket businesses are also likely to be disposed of he added
given these circumstances kohl will probably overlook poehls past as an adviser to former social democrat chancellor willy brandt and top aide to helmut schmidt when he was finance minister bankers said
the company said the price for the station a cbs television network affiliate was 20 mln dlrs
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
neco has 957000 shares outstanding
under the zero duty bindings pact us soybeans and products can be exported to the community duty free
standex international sxi buys british firm
the balance comprised 21000 tonnes of grains plus oilseeds and 125000 tonnes of derivatives
bankers said the interest rate modifications reflect the governments concern to reduce the costs of borrowing and help improve world competitiveness of indian goods
lending for consumption fell around 17 mln stg while about 182 mln stg of credit card debt was repaid during the month
c and r clothiers inc jan 31 year net
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
dubin will become vice chairman of roberts and j
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
first union func to buy florida bank
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
earlier the group had announced sharply increased pre tax profits of 1438 mln stg for calendar 1986 versus 35 mln the previous year
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
poco petroleums ltd 1st qtr jan 31 net
trading was not very active and dealers were watching for further central bank intervention to smooth out any sharp movements but underlying dollar sentiment is still bearish
the sugar for april may and april june shipment was sold at between 214 and 218 dlrs a tonne cif it said
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
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
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
caesars world caw stays on s p watch negative
the increases are following sharp spot and futures price rises the company said
frances cencep issues 19 billion franc bond
in the 1986 first quarter the commerical finance company earned 606000 dlrs or eight cts per share
the company said it expects the annual coupon rate of the bonds to be between 5 1 2 pct and 5 3 4 pct
independent bank corp ibcp regular dividend
natl distillers says it agrees to sell spirits unit for 545 mln dlrs to american brands
each 50000 franc note carries 15 warrants
the other sector commanding market attention today was eurosterling which soared in line with uk government bonds
the company also reported shareholders approved the authorization of 500000 shares of common stock to be set aside for an incentive stock option plan
sorghum season begins sept 1
the minimum accepted price was 9550 pct with a 913 pct yield while the average price was 9569
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
tdk group net up 176 pct in nine months
takeuchi said sales are expected to fall 40 pct to 1700 billion yen for the fifth consecutive year on year drop
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
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
cigra inc won a contract for a cargo of 56000 tonnes priced at 7941 us dlrs per tonne fob pacific northwest port for delivery on july 5 and 20
texaco canada txc lowers crude postings
following the purchase gerber made a capital contribution to gst of all the shares it owned resulting in 956 pct ownership by gst
thus citicorps bargaining position would appear to have been much enhanced
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
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
the company said it is also negotiating with its lenders to extend the reduced net worth terms beyond may 15
merlin also has a 125 pct stake in the adjacent papuan basin permit ppl 18 which contains the juha gas and condensate discovery
weyerhaeuser further stated that it has lowered its manufacturing cost structure and is obtaining significant productivity increases
the bonds will yield 725 pct net after tax with interest compounded semi annually
it says firmer long term rates would slow private net long term capital outflows which increased strongly in 1986
fluorocarbon fcbn buys eaton etn division
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
including acceptances loans fell 475 mln dlrs to 6516 billion
according to official estimates prices rose by more than 33 pct in the first two months of this year
bhp held its annual dividend unchanged at 375 cents after declaring a steady final dividend of 20 cents and announced a one for five bonus issue to shareholders registered may 1
the growers expect palm oil prices to ease later this year due to pressure from south american and us soybean output
transportation prices rose 05 pct in february after a 15 pct increase in january
the government welcomed a decision by the australian waterside workers federation to lift its ban on shipments to fiji imposed in support of bavadra whose newly elected government was overthrown in a military coup on may 14
bids for the bills will be received at all federal reserve banks and branches
perelman never does anything without a fair amount of calculation he said
japans rubber stocks fell to 44980 tonnes in march from 46198 in february and from 53784 in march 1986 the japan rubber trade association said
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
the notes will be sold nationwide through underwriters managed by shearson lehman brothers inc
price details were not reported
witco corp wit sets regular qtly payout
note net asset value per a share 694 dlrs vs 481 and per b share 139 dlrs vs 096
japanese crushers buy canadian rapeseed
actual reserves rose 487 billion dlrs in may compared with aprils 28 billion increase to a total value of 3468 billion dlrs compared with 2981 billion at the end of april
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
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
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
haft and his son robert last year raised its initial bid for safeway stores by approximately 10 pct when safeway resisted
orion capital corp oc 4th qtr loss
the bonn government will be in a very weak position in venice because they cant risk increasing the deficit further said schroeder muenchmeyer hengsts hutmann
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
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
allis chalmers ah defers interest payments
the potential purchase of the interest in champlin followed its earlier acquisition of a part interest in southland corps slc citgo petroleum corp subsidiary
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
however s and p said that if the amount of secured debt decreases meaningfully then the secured and unsecured debt could be rated equally
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
foreign exchange markets had been misreading his comments he said
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
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
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
the company said superior will become the exclusive packer of squire labeled coffee products which are marketed by stewart and stewart will provide equipment service and distribution suppoort for some superior coffee accounts
this made it world market leader with a share of 37 pct in 1986 pope said
us commerces ortner says yen undervalued
west texas sour was up 10 cts to 1660 dlrs a barrel
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
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
sosnoff already owns about four mln of caesars 30 mln common shares now outstanding or a 133 pct interest on a primary basis
extraordinary debit 50 mln vs nil
control resource industries inc crix 4th qtr
canadian bashaw erskine resources to merge
prime minister yasuhiro nakasone said that japan and other industrialized nations committed themselves in paris last month to stabilize the dollar above 150 yen
lieberman said the carolco bid to its public shareholders would be in cash or shareholders could be offered securities as an alternative
stone said economic data available by late june may be just weak enough to prompt one more discount rate cut
contents of the report were leaded well ahead of issuance
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 payment date is april 16
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
as a result of the acquisition inverness has bank debt of 180 mln dlrs it said
he said junk bonds had some value because of their liquidity
burlington has not responded to the new samjens offer
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
british authorities are also understood to have intervened to curb sterlings strength
hambrecht and three other hambrecht and quist representatives have been named to the visual board with robert m
wall street sources said they believed first boston corp and merrill lynch capital markets were also in on the bidding for the corporate bonds
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
nissan motor nsany sees second half profit
in july september domestic demand contributed one percentage point to gnp growth while foreign trade knocked off 03 point
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
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
all other terms of the issue remain the same salomon said
securities law requires takeover target companies to promptly disclose such things as the sale of major assets
home savings and loan association inc hsld 
argentina expects quick agreement with banks
nigeria britain agree rescheduling of official debt government sources
penn pacific ppaco to sell debt outside us 
other items mainly including unilateral transfers showed a 18 billion deficit
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
at least one of the other two targets was also believed to be ablaze the sources said
international technology itx buys firm
at the end of last year the government abolished price controls that had existed for 42 years on services such as car repairs and hairdressing freeing from state intervention small businesses which account for some 60 pct of the french economy
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
argentina unaffected by brazils maize decision
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
qtly div 36 cts vs 36 cts pay april 30 record april 7
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
the offer values each horizon share at some 0213 of a bass ordinary share or 190p
us canada ties seen worse without trade pact
unicorp canada unia cuts purolator pcc stake
shearsons kaul estimated us roaster ending stocks as of january 31 including soluble and roasted at 63 mln bags compared with 69 mln at end september 1986 a small drawdown for the usually busy winter roasting season
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
perhaps around about 48 cents he said
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
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
1986 qtr and nine mths exclude 36 mln dlr gain on investment securities
brazil plans new economic strategy for growth
lilco revises 1986 net to include 16 mln dlr loss provision
but a senior government official said the fourth quarter figures could surprise by showing a rise of more than one point quarter on quarter
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
belgian unemployment falls in february
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
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
he said cindasa will also ship 6000 to 7000 tonnes of spanish corn to italy in the second half of this month
fed adds reserves via customer repurchases
he did not say when this would be but added the contracts would not be bound by restrictions imposed during the second round
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
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
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
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
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
but for now market psychology has changed so abruptly that a further drop in the bond market cannot be ruled out
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
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
minorities 15 mln vs 24 mln
aequitron medical inc aqtn 3rd qtr loss
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
uk feb adjusted unemployment fell 44100 total 307 mln or 111 pct official
he also said the bank could double its current lending volume from capital and triple its concessional loans to the poorest nations
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
retail car sales are at a point of transition
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
german securities may be counted in lending ratios
their ideas are due to be unveiled when finance ministers hold an informal meeting in belgium early next month
bell group confirms standard chartered stake
some delegations are still awaiting formal instructions from capitals but informally most have indicated they favour an extension delegates said
itl industries ltd 1st qtr feb 28 net
the shares give the holder the right to convert to dome common shares at 333 dlrs per share
he said jwt would have no comment on an advertising age report that jacoby is considering heading up a venture capital syndicate to purchase a 35 pct stake in jwt group
last fall afg and privately held wagner and brown offered to acquired lear siegler inc for about 144 billion dlrs but withdrew the offer when higher bids emerged
waste managements offer is scheduled to expire march 25
you take the taiwanese with an enormous capital surplus enormous trade surplus and weve had very little cooperation there he said
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
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
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
bundesbank president karl otto poehl said west germany would be badly advised to lower interest rates and that he believed the economy would continue to recover after a six month lull
safeguard health sfgdo 3rd qtr net
terms were undisclosed
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
citicorp ccin and chase manhattan corp cmbn have already entered the japanese securities market by acquiring uk securities houses already operating in japan
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
analysts expect the higher prices to continue until soon after the opec meeting
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
foreign companies are taking up positions in the domestic economy and it is it vital to secure a market share abroad
south korea plans to import about 387000 tonnes of cotton this year compared to 225000 tonnes in 1986 trade ministry officials said
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
world bank sources said the banks lending to the philippines since 1957 including the latest loan totalled 43 billion dlrs
international banknote co inc ibk 4th qtr loss
but the companies said these lawsuits have been settled in the amended offer
wtc shareholders approve pittston pco buyout
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
the company attributed the improved results to increased purchases of its zfour language and development environment for computer software
vtx elecronics vtx sets sdtock split
in the first two months of this year prices rose by around 30 per cent
nippon life shearson tie up seen setting trend
it should provide currency and interest rate futures and incorporate the existing yen bond futures and planned stock index futures contracts
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
licht said sugar yields were fairly high last season thanks to favourable weather and this increases the chances of a significant reduction in production in 1987 88
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
usair u cleared to buy piedmont pie shares
louvre accord vital to wgermany stoltenberg
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
the rediscount is the rate at which the bank buys back treasury notes
riggs national corp rigso 1st qtr net
bundesbank data
this has had a definite influence on the financial form of the rand a dealer said adding that at present demand is slightly in excess of supply
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
the excessive humidity might also produce rotting of the crops further dimishing the yield the sources added
rose estimated the aerospace business could bring 30 to 40 dlrs per share or one billion dlrs as would diversitech the plastics unit
noble affiliates inc said it found natural gas on ship shoal 80 located about 10 miles offshore louisiana in the gulf of mexico
white engine bought by private investor
qtly div 10 cts vs 10 cts prior pay may 22 record may 8
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
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
last years results were up from 1985 operating profit of 80 mln dlrs and sales of 173 billion dlrs
interconnect capital said it intends to purchase the gates corp loan to gates learjet for 13 mln dlrs should its bid be successful
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
energy secretary john herrington has proposed several ways to boost us oil production but he said all would cost the treasury money and will come under close white house scrutiny before action is taken
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
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
federal industries ltd said it launched a 40 mln canadian dlr eurobond issue for five years bearing a coupon of 9 1 4 pct
it is a purely technical matter he added
s and p said avxs purchase offer for cts corp cts has expired and the acquisition does not appear likely to occur
dollar hits record low of 14978 yen tokyo dealers
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
bank negara said its forecast assumes that crude oil will average 1550 dlrs a barrel rubber at 210 cents a kilo palm oil at 850 ringgit a tonne tin at 17 ringgit a kilo and a rise of 12 pct in manufacturing exports
crude oil and natural gas exports totalled 456 billion crowns in february against 510 billion in january and 536 billion a year ago
south africa salvador brazil 15000 long tons manganese ore 2500 1500 end april
major video corp majvo year april 30 net
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
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
sec warns securities dealers on high mark ups
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
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
sosnoff raises bid for caesars world caw 
the highest rate is 1750 pct
bps willingness to take hard decisions such as major balance sheet write offs and the sale of assets had been well received in the markets
marsh and mclennan cos inc mmc 3rd qtr net
the ico board meeting ended without moves to restart negotiations on quotas which broke down last month producer delegates said
salek said the accumulated surplus in the jan sept period was 7857 billion dlrs compared with 8667 billion dlrs in a similar 1986 period
enterprise becomes the third operating telephone subsidiary of rochester telephone in pennsylvania and its sixth largest overall the company said
recalculated according to the new method unemployment in february 1986 would have stood at 22 pct the scb said
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
sudan receives 50 mln dlrs in pl480 authority
however interest which is paid quarterly cannot rise above 1150 pct
he added environmental considerations would play a larger role in the evaluation of proposed projects
source venture capital inc year
1986 qtr excludes 159000 extraodinary loss
carolina said 575000 shares were subscribed for at 10 dlrs per share during its initial offering
the international monetary fund said it approved 1259 mln sdrs to assist development in jamaica
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
where the crop is really made or broken is still ahead of us an agriculture department authority on the ussr said
1986 nine mth results exclude earnings from discontinued operations of 7549000 dlrs or 134 dlrs
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
the iafmm said fish meal consumption in 1986 rose in west germany scandinavian countries eastern europe and the far east but fell in the us and remained static in the uk it added that fish meal consumption had suffered from competition with feed grade tallow in the us and with skimmed milk powder in the uk iafmm figures for fish oil production in the main producing nations in thousands of tonnes were oct dec jan dec 1986 1985 1986 1985 chile 22 8 109 76 peru 56 28 238 104 norway 14 14 97 130 iceland 44 52 102 118 denmark 20 18 88 77 us 10 8 152 129 japan 67 91 213 249
world bank president expects brazilian debt plan
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
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
taiwans foreign exchange reserves now total 53 billion dlrs
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
one said that japanese chip makers are losing ground in asia to south korean and us competition just as markets there are picking up
one of the reasons was the widely varying terms and conditions of participation shares in west germany
production in 1986 is estimated by the embassy at 35000 tonnes as against 38000 tonnes in 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
he noted that fleet has a teriffic reputation after having diversified in a number of financial areas
the company would not disclose details of the testing
he said he sees a decrease in the tax rate in 1988 of five or six percentage points
handy and harman sees sufficient silver supplies
growers did not revise their estimates for total volume of the coarse grain harvest over last weeks estimates
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
placer pacific hopes for misima gold approval soon
almadens administrative functions will move to heubleins headquarters in farmington conn the company said
the controls will create more paperwork but the extra bank charges will not outweigh the profits of speculation said the manager of a european bank
cook is negotiating with its bank lenders and private sources for a borrowing facility to relieve its current working capital requirements
malaysia plans 16 billion ringgit loan issue
this meant pioneer shareholders would be paid for all shares tendered within 14 days csr said in a statement
philippine debt pact seen as good for economy
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
in 1985 gaf made an unsuccessful effort to acquire union carbide corp for five billion dlrs and has since expressed an interest in acquiring a chemical company that would complement its own chemical business
nomura urged the government to take pump priming measures to help redress trade imbalances and boost employment
exports of american wine rose 149 per cent last year to a total of 72 million gallons the wine institute said
we say that agriculture is urgent but its not the only urgent thing he said
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
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
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
us fhl banks sets rates on debt offering
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
it is inevitable that exchange rates fluctuate under the system of floating rates sumita said
currently all mark denominated eurobonds have to be registered with the bundesbank in the week preceding the two week issue period
and so far us pleas for taiwan and korea to use their hefty export earnings to import more have had little effect
us gold production rose in december
it said prior results were not comparable due to the companys november 1986 acquisition of a 57 pct stake in continuous colour coat ltd
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
general public utilities gpu five mths net
mulford also said that oecd nations need to grow an average three pct to help resolve the international debt crisis
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
lewis preston chairman of jp morgan and co
campeau corp and the edward j
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
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
the company stated this layoff does not affect the production of its new 5 1 4 inch beta 20 product which is currently being built to a backlog of orders
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
gould said the move is part of its plan to divest its defense systems businesses and focus on its computer and electronics sectors
public company we are and public company we wish to stay henrion told the paper
fed governor seger sees currency stability
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
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
monday after texaco confirmed that the pipeline had been closed west texas intermediate crude in the spot market and on new york mercantile exchanges energy futures complex rose 20 cts a barrel
hydraulic thc splits 3 for 2 hikes dividend
prices edged up on firmer origin offering levels and the stronger dollar
jannock acquires 50 pct of intercon security
baruch foster corp bfo 4th qtr loss
harper and rows stock closed off 3 4 to 33 1 2 after rising 9 1 4 points yesterday
dominion relied on the information provided by the insider jim ammeen nathan said
it said it is raising jet and kerosene postings 25 cts bringing jet to 525 cts and kerosene to 515 cts
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
baker noted that the benefits of a weaker currency take 12 to 18 months to affect the trade balance and said it is now 18 months since the plaza agreement to lower the dollars value
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
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
exxons earnings from exploration and production in 1986 fell to 31 billion dlrs from 49 billion dlrs in 1985
the issue is available in denominations of 20 and five mln yen and will be listed in luxembourg
more than 3300 companies including car manufacturers electronic and electric firms were hit by labour unrest between july and september
the big story is the inventory re building thats going on now not all of which is intentional he said
organized labor has pressed lawmakers for more relief from imports where jobs have been lost to foreign competition
the facility was subsequently increased to 40 mln dlrs
of the increase 297 mln stg was accounted for by personal lending which the banking information service said was taken up entirely by lending for home purchases
the bell group ltd bllas said it will make two convertible bond issues totalling 200 mln dlrs
finland revises currency basket
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
net includes pretax loan loss provisions of 90000 dlrs vs 56250 dlrs and gain on sale of securities of 113432 dlrs vs 88946 dlrs
yochum senior executive vice president for finance told the analysts we will consider buying back stock but there are no current plans for such a buyback
proceeds will be used to retire short term debt and fund the companys current construction program united cities said
six leading industrial nations agreed under februarys louvre accord to stabilise currencies and coordinate monetary policies
the dollar was trading around its midday rate of 14230 yen
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
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
winter grains remained dormant over the region but warm weather promoted greening in crop areas adjacent to the black sea coast it said
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
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 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
toronto dominion unit issues australian dlr bond
lig said the disposal was part of its strategy of concentrating on its core activities
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
these vessels were out fishing the foreign ministry said in a 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
they put wednesdays overnight system repos at approximately 34 billion dlrs
raleigh federal savings bank rfbko 3rd qtr
uk money market receives 170 mln stg help
previous iso chief william miller retired at end february last year
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
the treasury said sales of ee us savings bonds were 17 pct higher during march at 703 mln dlrs than in march 1986
hmo america hmoa agrees to be acquired
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
winter grains in eastern europe usually break dormancy in early april it said
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
cti will become a wholly owned subsidiary of rabbit
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
the reduction brings its posted price for west texas intermediate to 1600 dlrs a barrel the copany said
oxford first corp ofc 4th qtr net
purolators stock climbed 5 3 8 today to 40 1 8 1 4 over emerys 40 dlr per share offer
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
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
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
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
banca damerica e ditalia 1986 year
us banker predicts further dollar fall this year
nuclear data ndi gets extensions on loans
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
british banks seek more equitable contributions on mexico package lloyds
we dont make changes lightly and we dont make changes often he said
cathay pacific 1986 profit seen above target
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
the group paid 31 cents a share and 1331 mln dlrs in all for that year
payment date is april 23
shortly after the tokyo market opened today the bank of japan was detected by local dealers buying moderate amounts of dollars
the units make and distribute various products including lawn mowers small appliances and sheep shearing equipment
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
1985 operating net profit excludes an extraordinary gain of 47 cts
gts corp gtsc 4th qtr dec 31 loss
the company said it has obtained waivers from holders of its six mln dlrs principal amount of debentures due march 31 1993 to defer interest payments aggregating 270000 dlrs through march 31 1987
the merger is effective april one and is subject to shareholder approval
bass group says it has had talks on taft tfb 
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
california and louisiana were each up by three and wyoming gained two additional working rigs
we did not ask any country to do anything
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
irish oil concern boosts cenergy crg stake
the equivalent rate at dec 31 1985 was 12470 dlr equals one irsh pound
heublein said it is will still be represented in canada by gilbey canada inc
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
any way you slice it i see a significant premium to the current stock price he said
there will be no co managers
net borrowing in the prior week averaged 148 mln dlrs
accepted bids ranges from 570 pct to 574 pct and 14 pct of the bids at the high or stopout rate were taken
officials said the study will be undertaken with the help of the world bank which is also expected to give financial support
the dollar dropped sharply in new york after news that paul volcker would step down as chairman of the us federal reserve
qtly div 55 cts vs 55 cts prior pay april 25 record march 31
it shows the 1986 and 1985 deficits at 209 billion and 1722 billion dlrs
laser photonics inc said it sold 615385 shares of its common stock to investors for one mln dlrs under a previously announced agreement
aircraft attack iranian oil rigs in southern gulf
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 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
arco sells two agricultural research operations
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
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
analysts said bats increasingly good performance in the uk insurance area was encouraging
baker was optimistic about brazil which has stopped interest payments on much of its outstanding debt with foreign commercial banks
parent company net profit 128 mln swiss francs vs 75 mln
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
provisional net profit 55 billion lire vs 48 billion turnover 3750 billion vs 3369 billion
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
this is a higher return than they would have earned without the excessive draining through the treasury bill mechanism
meatpackers at the plant have been working without a contract since the old pact expired january 31 ufcwu spokesman john mancuso said
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
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
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
sumitomo bakelite said it bought the stock for 49 mln dlrs for investment purposes
major us oil pipeline shut down by floods
first chicago fnb raises prime rate
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
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
as a result elders oneill said there was much confusion many unmatched trades and large losses
hubco inc hco 1st qtr net
the issue price represents a premium of 657 pct over the stocks closing price of 653 yen
hutchison announces bonus issue of new b shares
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
they said the reduction brings exxons contract barge price to 4975
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
the cheques were also used as collateral for consumer spending thus generating an informal credit system
japan feb current account surplus 738 billion dlrs jan 495 billion surplus
dst systems inc dsts regular payout set
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
the shares that smc now proposes to buy from the ucpb are owned by 14 mln coconut farmers diaz said
verac will operate in san diego as part of balls technical products group
top officials of leading industrial nations appear deeply worried that financial markets have ignored their efforts to coordinate policies which they believe they strengthened in talks last week
the target for 1987 is eight pct
powerine a privately held company said it expects the refinery to become fully operational by may with crude oil throughput at 35000 bpd
cargill uk strike talks to resume this afternoon
colombia buys 25000 tonnes french wheat trade
he said pre tax earnings per share for 1985 86 according to the dvfa method were 2695 marks from 2140 marks and earnings after tax rose to 10 marks from 810
the securities and exchange commission reminded securities dealers that its mark up disclosure requirements also applies to transactions on zero coupon securities
we are now trying to rebuild our capital structure
the central banks move has been combined with a steady cut in the dinar exchange rate
general host gh sees year loss
cocoa working group meeting delayed
egpc officials say egypt can produce up to one mln bpd per day but production was cut when world prices plunged last year
destinations were the us covertible currency areas uruguay and open ports
the company said more than 30 lending institutions participated in the bidding for the bonds and that 25 pct of the issue was placed with the us unit of a canadian firm
one year ago the gulf of mexico utilization rate was 325 pct
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
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
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
saudi arabia wants to increase oil sales to japan
world bank mission holds loan talks with brazil
a ministry statement had earlier announced indefinite suspension of crude oil exports declaring force majeure
mobil corp said it will spend over 30 mln dlrs to upgrade a gasoline producing unit at its beaumont texas refinery
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
british production was on a plateau and was unlikely to increase in the future she said
to go after individual items in a trade bill is suicide he said
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
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
ldp executive council chairman shintaro abe will explain the plan to us officials when he visits the us on april 19
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
five of nine indicators were negative
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
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
the full council session resumes tomorrow at 1330 gmt after a european community coordination meeting at 1100
it said captive venture issued 1600000 restricted preferred shares convertible into 16 mln common shares for scan graphics
it said morgan stanley and co inc acted as placement agent
only the two state groups seriously planted these clones while smallholders preferred the low yielding but older pbx malaysian clones
the company also said 5800000 dlrs of its convertible subordinated notes due 1997 have been converted into 728476 common shares
canterra energy ltd said it will drill an exploratory well on the scotian shelf about 280 kilometers east southeast of halifax nova scotia
this compares with a 380 dlr cash element in csrs proposed bid
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
petrie stores corp pst 4th qtr jan 31 net
it was not immediately clear what the overall size of the capital replenishment would be if the us went ahead with such a capital increase
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
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 agreement to cooperate in stabilising currencies was reached in paris in february this year
american express officials declined comment but cited a statement it released more than two weeks ago in which it said it was studying matters of strategic importance
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
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
there are plenty of objective pressures which will result in things getting back to normal again after a period of ill feeling said commerzbank ag chief economist juergen pfister
the 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
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
company sold all its operations at the end of 1986
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
the transaction was opposed by a group of portsmouth investors who wanted the bank to remain independent according to press reports
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 government says industrys competitiveness is also being hit hard by inflation
london grain freights
anchor glass container corp anc 3rd qtr net
some farm state lawmakers already are manuevering to find the budget savings
saudi arabia doesnt decide prices by itself but certainly desires price stability he said
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
coffee accounts for 60 pct of ethiopian exports and the recent fall in world coffee prices has sharply reduced the countrys foreign exchange earnings
gafs stock rose 1 5 8 today to 48 5 8
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
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
seagate technology sgat 3rd qtr march 3 net
spain raises call money rates on higher demand
separately carroon said it also completed the acquisition of rosskopf rapp and schmidt insurance agency based in el monte calif
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
any such moves could meet with opposition among some cbt members
pactel pac sees earnings growth
healthvest a maryland real estate investment trust said it began selling five mln shares of common stock at 21 dlrs a share
minorities nil vs nil making two mln vs nil
government cash balances fell 117 billion dlrs to 463 billion dlrs in week ended april 1
mattson told that baker still believed a merger was possible between the two giant oilfield service companies
it said it bought the 39000 shares of stock at 530 6875 dlrs a share for investment purposes
the bonds are guaranteed by belgian savings bank aslk cger bank and have all been pre placed
indeed futures traders with cash bond connections said some of the late strength in the bond market resulted from buying by japanese interests
blackburn said the new company would be a pure exploration and production operation and that he was looking to divest non oil and gas operations particularly diamond shamrocks coal operations
the timetable on lower interest rates is being pushed back all the while
in addition she also pointed out that prospects for higher interest rates may also be affecting pacific gas trading activity
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
all in all merrill lynch estimated that there would be 130 mln dlrs in fees and expenses connected with the deal
the usda is to release its 1987 planting intentions report march 31
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
eib lends 200 mln francs to french railways
but the letter could be amendend by a written agreement by both companies
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
curtice burns foods inc cbi raises payout
the company said it will entertain offers through march 30
more than 170 ships in brazil and about nine more in foreign ports have been halted by the strike which began on february 27
arrays inc said it completed its merger with haba systems inc
philadelphia exchange to extend hours for asia
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
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
m 1 grew a mere 500 mln dlrs in the week to march nine compared with private forecasts of a 23 mln dlr rise
terms were not disclosed
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
nashua nsh to purchase private disc maker
marine midland banks inc mm offering of 125 mln dlrs of subordinated capital notes due march 1 1997 through underwriters led by first boston corp
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
tracomin sees lower us edible groundnut exports
the us currency ended at 18270 80 marks below yesterdays last 18365 75
bank of japan has no comment on yen bond report
the commerce department on monday will set final dumping duties on frozen orange juice from brazil department officials said
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
on schilling lending profit on interest had risen 18 pct to 219 billion schillings while commission earnings climbed 87 pct to 7389 mln
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
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
failing washington state s l is acquired
gould said the move is part of its previously announced plan to divest assets unrelated to its computer and electronics businesses
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
ec launches anti dumping probe on japanese chips
reg july 17
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
arkla alg proposal to settle dispute
bp gained 2 3 8 to 59 3 4
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
over 785000 tonnes of this sugar was accepted by the commission on wednesday according to commission sources
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
however the intervention failed to boost the us currency significantly from the 14220 yen level they added
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
cpcs one year contract with abu dhabi expired on may 31 this year and it wants the renewed contract to begin on june 1 at the government selling price
but the market has to bear in mind that time marches on and the situation changes said mcgroarty of discount
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
noblee a supplier of specialised refined oils and fats to the food processing industry had turnover of 161 mln marks last year
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
tca cable tv inc tcat sets quarterly
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
this was owing to high prices for the countrys coffee exports low oil prices low inflation and rising real incomes he added
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
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
general electric said restructuring provisions of 308 mln dlrs before taxes to implement various strategic moves were charged against operations in the first quarter of 1987
but its still too early to talk about disastrous losses
the operation will put outstanding bill supplies at about 2500 billion yen
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
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
venezuela plans metals investment for 1987 89
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
taft tfb rejects 145 dlr shr offer
hot dry weather has caused some deterioration in saskatchewan crops according to the saskatchewan wheat pools weekly crop report
bilzerian says if pay npak signs merger accord he will tender for 75 mln shares
sekisui chemical issues equity warrant eurobond
ico pact unlikely by autumn italian adviser
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
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
among individual states the steepest declines were in oklahoma and louisiana which lost eight and seven respectively
non callable for life the issue is rated a top flight aaa by moodys and standard and poors
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
the brazilian state oil company petrobras has made a second oil discovery in the amazon region president jose sarney said
in november 1986 revlon made an unsolicited offer for gillette shares gillette said
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 exposure faced by the industry stems from take or pay contracts under which pipelines bought gas on long term contracts they could not sell
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
olson industries inc said it signed a letter of intent to sell substantially all of its remaining egg operations to sunny fresh foods inc
dealers said that the rule would enable investors and secondary market makers to better evaluate the appropriate market price for their securities
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
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
universal health realty uht 1st qtr net
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
economic spotlight telecom is key japan ministry
gencorp inc said its board took no action with respect to a two pct stock dividend at its annual meeting yesterday due to the press of other business specifically the companys pending takeover offer by general acquisition corp formed by afg industries inc and wagner and brown
the bills proponents have argued canada has simply replaced shipments of live hogs with fresh pork
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
on completion of the share placements pratt group will effectively have 51 pct of batterys enlarged capital assuming exercise of all options it said
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
spearhead industries inc sprho 3rd qtr net
however moodys noted that gaf has demonstrated an ability to profit from takeover attempts
this time next year the us will be screaming at those countries about their exports said steve cerier of manufacturers hanover trust co
new york business loans fall 718 mln dlrs
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
about 7000 acres are planted with the high yielding ric 103 variety the clone afflicted by corynespora
elsewhere alza corp issued a 75 mln dlr convertible bond due 2002 through merrill lynch capital markets
treasury to publish us reserve assets monthly
in other action the company set may eight as the date of its annual shareholders meeting
poland is accusing the west of letting economic relations deteriorate for political reasons said one expert
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
the price paid for general tire would not cause us to reevaluate that estimate said tilden
saudi success seen in curbing opec production
it said the acquisition brings to 10 the number of bank branches in macomb county
delors calls for g 7 meeting
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
the issue involved was launched in 1984 and matures on november 15 2004
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
shr loss 22 cts vs profit 10 cts net loss 1056000 vs profit 427000 sales 5440000 vs 4982000 avg shrs 5229542 vs 4435691 year shr profit one ct vs profit 26 cts net profit 29000 vs profit 993000 sasles 191 mln vs 166 mln avg shrs 4947632 vs 3780543
resende announced suspension of the maize imports at a news conference in brasilia yesterday
the non callable bond is available in denominations of two mln lire and will be listed in luxembourg bci 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
bil has not disclosed how many progressive shares it holds
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
unilever unit issues 40 mln australian dlr bond
non refundable for 10 years the issue is rated a 1 by moodys and a by standard and poors
canadian money supply falls in week
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
shr 30 cts vs 30 cts net 1804000 vs 1800000 nine mths shr 89 cts vs 79 cts net 5334000 vs 4496000
wells fargo and co wfc 1st qtr net
on a per acre basis cotton payments will reach 7324 dlrs in 1987 wheat 6030 dlrs sorghum 5438 dlrs barley 2741 dlrs and oats 231 dlrs usda said
semi annual principal payments on the remaining 40 mln dlrs of notes have been satisfied until december 1988 as a result it said
they said the taft board did not conclude that their offer was not fair to taft shareholders
the commodity credit corporation owned 127 mln tonnes about half of the world soybean surplus he said
calendar year exports for 1986 were also lower at 669 mln tonnes against 721 mln in 1985 the lowest level since 1980s 619 mln tonnes the figures show
arts way manufacturing co inc is full name of company
in particular they stress new techniques that shift the emphasis from debt to equity and shave interest rates
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
scimed said the suit is without merit and it has turned the matter over to its attorneys
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 esso italiana refineries at augusta and siracusa will not be closing this spring a spokesman for the company said
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
french february official reserves rise
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
qtly div 40 cts vs 40 cts prior pay may 15 record april one
in the event that prices offered for the stock to be sold are substantially out of line with market conditions the bank will agree to take the stock onto its own books
dixons says citicorp to withdraw cyclops offer
speaking briefly with reporters before entering a meeting of the international monetary fund he said these minor movements dont really affect us the dollar declined in the initial reaction to a statement by the group of seven industrial countries reaffirming their paris agreement in february to maintain their currencies around current levels
plans call for production to eventually reach 500000 mt annually
mobil corp said the 49 28 14 wildcat well in block 49 28 of the british north sea flowed 506 mln cubic feet of natural gas per day from depths of 7742 to 7777 feet
nippon signal swiss franc notes set at 1 1 4 pct
the fluctuating official rate is about 136 pounds to the dollar
canadas airline profits seen higher
technical meetings are to be held today and tomorrow with meetings at a more senior level scheduled for thursday and friday
this so called bridge financing will be replaced later with long term debt most likely in the form of bank loans hutton said
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
lau denied any link between china entertainment and lai sun on their acquisitions of the hk hotels stake
the exchanges draft revision sets brokerage fee percentage rates in inverse proportion to the size of amounts transacted market sources said
s and p said its profitability remains severely depressed
fed funds hovered at a relatively high 6 1 4 pct this morning after averaging 614 pct on tuesday
a few have reached agreement with bankers to extend debt repayments
the bank issued eight billion taiwan dlrs worth of similar bonds last month
us retail sales rise 41 pct in february
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
toronto dominion australia dollar bond increased
production in the 30 countries which report their figures to it was 69 pct below the february 1986 level at 3203 mln tonnes
sudan sierra leone and gabon were given a total of 980000 dlrs of technical assistance
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
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
european community ec farm ministers were fighting hard early today to prevent a deal on cutting overflowing milk production from turning sour before trying to agree widescale reforms in other surplus sectors
he denied a suggestion by a dealer at one vienna bank that the national bank had sold marks to support the us currency
secondary market australian dlr bonds ended little changed on the day with dealers saying that operators are awaiting the australian trade figures for march
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
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
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
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
while it said it might acquire more shares in the company it said it has no plans to seek control of it
japan seen cutting april bond coupon from five pct
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 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
the rise in gdp was below the 33 pct increase forecast by federal finance minister michael wilson in his budget last month
brazilian coffee rainfall
goldman sachs and shearson lehman brothers co managed the deal
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
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
campbell resources inc 2nd qtr shr profit three cts vs loss 10 cts
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
it rejected bids for breadmaking and feed wheat they said
bond traders noted that nabisco has called for redemption around 12 billion dlrs of its 1120 pct notes of 1997
australian wheat exports rise in february
the 1987 budget allowed for 30 billion francs in revenue from privatisation to be split between repaying national debt and providing state enterprises with fresh capital
the 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
it said viadent helps prevent plaque build up and inflamed gums
henley group heng unit wins taiwan contract
general partners also left open the possibility of an alternative to an all cash offer
simon was unavailable for comment
last december tazara carried 36000 tonnes of zambian mineral ore the lines record for any one month period he added
cash dividend is payable april 30 to holders of record april 15
tugs to attempt refloating korean bulk carrier
private sector credit grew to 2224 billion dlrs from a revised 2092 billion in november and 1701 billion in december 1985
gross domestic product gdp growth in 1987 is expected to grow by between 15 and two pct up from one pct in 1986 the central bank said
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
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
the rates moved very suddenly and were certainly unexpected by homebuyers said cynthia latta an economist with data resources
the 38 mln shares consist of 24 mln class a stock and 14 mln class b shares
it said 90 billion pesetas was provided at the second window
the first is a floating rate bond due march 29 2002
canbra foods ltd year net
electronic tele communications 3rd qtr loss
but ogpin denied manila was playing down the prepayment aspect of the restructuring
bralorne resources in agreement with lenders
smithson said japanese banks started buying smaller and problem plagued banks in 1984
it now holds 1499 pct the maximum allowed without foreign investment review board firb approval
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
the volume of the issue is expected to be one billion marks
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
raising the price of grain would directly conflict with the goal of social stability said a china daily editorial this month
american barrick abx unit completes issue
the commodity exchange inc said it is increasing the minimum margins for silver futures contracts effective at the opening of business thursday april 2
chase also said 50 to 60 pct of standard oils publicly held shares are held by financial institutions
westronic inc wstx year loss
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
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
the company must open 10 stores within the next two years to maintain exclusive license rights in the territory it said
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
consolidated norex to acquire triweb resources
an additional 264000 tonnes of durum wheat are still avaiable to algeria under the export enhancement program initiative announced on march 16
ibc could close may export registrations tonight
he said the dollar was high because of grossly excessive interest rates for government stock
financial terms were undisclosed
the total area sown was 123 mln to 130 mln hectares 103 to 152 pct down on the 145 mln sown last season
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
in addition total is purchasing crude oil and refined product inventories at market value asamera said
the economy is not receiving a considerable amount of the equipment that it requires said talyzin who heads the state planning committee gosplan
cbt metals financials delivery locations
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
the spokesman said the march calendar would be flexible to take account of market conditions
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 special dividend is to be paid july 27
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
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
towle said it bought the stock for investment purposes on behalf of its advisory clients
the company raised 22 pct fuel by 25 cts to 1950 dlrs a barrel
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
coeur dalene mines corp cour 4th qtr loss
family dollar stores inc fdo 2nd qtr feb 28
the record date for the split is april 10 and certificates representing the additional shares will be mailed april 20
the measure sponsored by committee chairman patrick leahy d vt and sen
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
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
analysts have said the fact that american motors stock has remained above the four dlrs a share chrysler offer could lead the larger company to raise its bid
secretary monsod and i get along famously he 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
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
turkish central bank sets lira dollar dm rates
ny traders say latin coffee producers to meet
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
ongpin said the prepayments were part of seven different scenarios philippine negotiators prepared before the talks
london sugar freights
the report was qualified due to uncertainties surrounding the previously announced arbitration award against american motors former subsidiary am general corp
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
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 barley malt is scheduled for shipment during april 1987
the reagan administrations cabinet level economic policy council is scheduled to meet friday to discuss among other issues the status of agricultural legislation administration officials said
there has been no official estimate of damage
the recent price strength gains of about 52 dlrs the last two days has been due in large part to sterlings rally against the dollar and in the process has attracted a measure of origin selling traders said
ohio mattress co omt 1st qtr feb 28 net
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
i have too much work to accomplish here in brazil at the moment
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 yield floats opposite of libor he said
drought cuts chinese wheat crop usda report
brunswick bc files for 300 mln dlr shelf
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
the winds strengthened by el ninos pump effect raise the sea level off australia and indonesia they said
krung thai is thailands third largest bank
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
the united states charged japan with violating gatt rules by restricting imports of agricultural products through an import licensing system
commercial and industrial loans on the books of the 10 major new york banks excluding acceptances fell 195 mln dlrs to 6506 billion in the week ended february 18 the federal reserve bank of new york said
shr 31 cts vs 31 cts prior payable april 24 record march 31
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
decision industries dic sees 1st qtr loss
britain and denmark which assumes the ec presidency on june 30 have led the opposition to the measure
this will bring the light fuel oil price to 1690 dlrs medium to 1550 dlrs and heavy to 1460 dlrs the company said
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
shell canada shc raised crude oil postings
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
knoll to buy american savings aaa shares
the rise in oil prices over the past week has been largely media induced singer said
monarch avalon inc mahi 3rd qtr jan 31 loss
poehl sees good chances for currency stability
ranco will be transferred to one of siebes us subsidiaries robertshaw controls co
usair group in definitive agreement for two billion dlrs in credit
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
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
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 raymond corp raym declares qtly div
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
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
german money supply growth slows in february
lowrance electronics inc leix 2nd qtr jan 31
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
light louisiana sweet is now posted at 1935 the company said
this is congress number one opportunity to attack the trade deficit in a positive way by exporting more the washington democrat said
colombian inflation rises 203 pct in february
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
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
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
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 notes will be listed on the london stock exchange
in fact a further marked decline in the dollar rate would hold two major dangers gleske said
but he said investors looking ahead six to 12 months might want to buy at present levels for the tremendous fundamental values in the group
the ebullient poehl spent seven years in bonn in top ministerial posts under the social democrats now in opposition before he moved to the bundesbank
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
micron technology inc dramo 3rd qtr june four
soybean group head urges usda action on loan
dealers will be enskilda and bankers trust international ltd
that sounds like a reasonable strategy
butler btlr to sell part of unit
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 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
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
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
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
orbit said it has reserves of 24 mln barrels of oil and natural gas liquids and 672 billion cubic feet of natural gas
japan will pay five pct less for the indian iron ore it imports in fiscal 1987 88 starting april 1 than the average 18 dlrs a tonne it paid in 1986 87 a government trade official told 
treasurys baker pursuing s
new zealands current account deficit for the quarter ended december 31 1986 narrowed to 567 mln dlrs from 738 mln revised down from 742 mln for the september quarter and from 733 mln a year earlier the statistics department said
shr two cts vs 29 cts net 23000 vs 338000 revs 202 mln vs 215 mln six mths shr 64 cts vs 97 cts net 741000 vs 1113000 revs 432 mln vs 443 mln note 1986 2nd qtr and six mths ended march one
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
wendys wen declnes comment on market rumors
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
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
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
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
qtly div 41 cts vs 41 cts pay june 10 record may 29
osullivan corp osl 1st qtr net
but the dollars medium term direction is soft one dealer 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
he noted that the ec imports one quarter of us soybean production and loss of that market would be devastating
philippines clinches debt deal source says
but it said it will not make an exception for waste management which would give that company an advantage in the bidding process
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
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
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
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
the buildup ties in with us plans to escort kuwaiti oil tankers which have been re registered to fly the american flag and gain naval protection against iranian attacks
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
the 350 banks were supposed to confirm their argentina loan commitments by june 17
caesars was placed on creditwatch for a possible downgrade march nine following investor martin sosnoffs bid
the government announced a three billion franc program to combat long term unemployment amid speculation among political and economic analysts that it is positioning itself for a period of economic reflation
anzola told a meeting of the banking association yesterday the new plan to be called exchange agreement no
china switches us wheat to 1987 88 from 86 87
prior to 1986 sigma conservatively reported only proven reserves that could be mined without future development costs
the agreement calls for cxr to pay to torotel 1350000 dlrs in exchange for return of a 25 mln dlr note and five mln cxr common shares valued at 17754000 mln dlrs the companies said
london exchange declines comment on merrill case
the fomc issued an asymmetric inter meeting policy directive which gave greater possibility to firmer rather than easier policy
corrects last assay result to lead from zinc
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
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
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
between july 1 last year and january 31 britain bought 274665 tonnes against 642800 tonnes onic figures showed
payout for dividend is may six to stockholders of record on april 13
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
arab monetary fund lends iraq 717 mln dlrs
united financial banking ufbco 1st qtr net
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 fhlbb said south bay had assets of 625 mln dlrs and standard pacific had 3128 mln dlrs in assets
the taiwan dollar advanced more than 15 pct against the us dollar since september 1985
american express will also grant nippon life a five year warrant to purchase one mln american express common shares at 100 dlrs per share
wilton enterprises inc wltn 2nd qtr jan 31 net
green mountain power corp gmp sets quarterly
honeywell bull is seeking a 400 mln dlr five year multi option facility arranger banque nationale de paris said
international minerals and chemical corp said it completed its acquisition of johnson and johnson cos pitman moore unit a producer of animal health products
bolivia is to make a formal offer during the next few months to buy back its 900 mln dlrs debt from commercial banks at a discount of up to 90 pct central bank president jier nogales said
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 onset of cooler weather in brazil during the southern hemisphere winter is expected to have a stabilising effect on a weak coffee market west german trade sources said
jim walter corp jwc regular dividend
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 it bought the shares as part of its arbitrage and investment business
the measure sponsored by sen
they said the 050 cent increase brings suns contract barge price to 49 cts
grumman gq unit wins mcdonnell douglas order
liberty all star equity fund initial div
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
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
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
us natural gas reserves fell to 344 trillion cubic feet from 365 trillion and foreign reserves fell to 138 trillion from 153 trillion
fed adds reserves via customer repurchases
also as part of the issue there is an option for issuance of a 70 mln dlr tap to be offered the following year
the fluidized bed facility would have provided heat and electricity for the oil shale project unocal said
twa in legal stipulation not to pursue the acquisition of usair
community bank system inc cbsi 1st qtr net
the government had forecast that average measure gdp would rise 25 pct in calendar 1986 after 33 pct in 1985
at the same time the edelman group said it cut its stake in morse to 84 pct from 97 pct
but none predicted a surplus
ho said the cuts may come into effect by the end of next month
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
siebe completes acquistion of ranco rni 
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 decision upholds a court ruling of last july
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
gpu gpu declares first dividend since 1979
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
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
payment date is april 21 giving a short first coupon
the plan would be subject to bankruptcy court approval due to bells status as a debtor in possesion under chapter 11
commonwealth mortgage co inc ccmco 4th qtr
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
jamesway corp jmy 4th qtr jan 31 net
the division manufactures tillage and spraying equipment
first wisconsin said shelard is the holding company for two banks with total assets of 168 mln dlrs
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
iida is optimistic about the future however
this represents just over 54 pct of the outstanding shares on a fully diluted basis
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
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
k mart km says record 1986 net turning point 
welbilt corp said it acquired food handling systems inc of dallas a producer of commercial ovens conveyers and proofer systems
the agreement on the moratorium with some 330 creditor banks expires on june 30
also downgraded were the unit trinity industries leasing cos 60 mln dlrs of convertible debentures due 2006 to bb plus from bbb minus
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
uk money market given 451 mln stg afternoon help london march 16 the bank of england said it provided the money market with a further 451 mln stg assistance
the 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
the duty was imposed last year after the revenue department found us corn production was subsidized
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
weizsaecker speaking to the bolivian congress yesterday said of latin americas 380 billion dlr foreign debt debtor countries and creditors must cooperate with the banks and international financial organizations to find long term solutions bolivias debts total 44 billion dlrs
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
because of the currency situation and the wage negotiations between germanys major employers and the unions the bundesbank would be very unlikely to make any changes to monetary policy at its council meeting on thursday they said
brazils gdp grew 82 pct last year
vw increased nominal capital by 300 marks last year to 15 billion marks with the result that its total dividend payment on 1986 will be 306 mln marks compared with 240 mln on 1985 since the new capital was in preference shares
the purchase agreement includes the forsyth county news published on wednesday and sunday and the winder news a weekly among other publications
murphy oil mur raises crude postings
brodersohn said the growth targets were not negotiable but argentina did not want to follow brazil in suspending payments on its foreign debt
it said imaging solutions formerly named exxon printing systems inc had been a reliance electric co subsidiary
garofalo said the largest specialty chain operated by woolworth is kinney shoe stores followed by the richman apparel unit
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
ultimately this would lead to a rise in us imports
press reports said kaufhof wanted a stake of up to 125 pct in hapag lloyd
urban told reporters that debt servicing was hampering the expansion of the national economy but that the new plans for economic reform would open new vistas for polish exports he criticised the blocking efforts of some western governments whom he declined to name for putting political considerations ahead of economic co operation
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
in a question and answer session with the public affairs group clark said that the two countries must find better mechanisms for resolving their trade disputes
in the same period incoming orders rose five pct to 218 billion marks against the same 1985 86 period
this followed trader talk on the london metal exchange lme after broker bids were made at increased premiums for capper pass brand material
according to the sources the boards financial problems have been aggravated by long delays in processing export receipts
redstone also raised the face value of the preferred stock he is offering to 750 dlrs from six dlrs
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 remarks prepared for delivery to shareholders president peter donis said caterpillars targeted five pct cost reduction in 1987 will be difficult to achieve because the weaker dollar has limited opportunities to obtain lower material costs
healthvest hvt declares three week dividend
months used currently for the indicator are may july and september but these are set to change to july september and december on april 15 prior to may becoming the new york spot month traders noted
foreign firms have invested 21 billion dlrs on offshore china since 1979
each bond of 1000 guilders nominal has five a warrants and 20 b warrants attached
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
for the year ended december 31 1986 patient reported a net loss of 14 mln dlrs on sales of 298 mln dlrs due to write offs from discontinued operations and a temporary backlog of orders
texaco tx eurobonds unquoted at market opening
shr 59 cts vs 51 cts net 180 mln vs 156 mln revs 2786 mln vs 2722 mln
but whether the banks are ready to endorse the pins concept right away still hangs in the balance
as a result efforts to reduce the value of the dollar over the past year and a half have done little to improve the trade deficits with those countries
but fitzwater noted that reagan did have a fundamental objection to tax rises and special tax breaks
the initial exercise price is 494 yen per share and final maturity is february 4 1992
ex arco arc chief sees energy crisis by 1990
shr 24 cts vs 31 cts net 2245000 vs 2885000 revs 507 mln vs 465 mln avg shrs 9396000 vs 9270000 year oper shr 96 cts vs 99 cts oper net 8994000 vs 9220000 revs 1915 mln vs 1747 mln avg shrs 9394000 vs 9282000 note 1985 year net excludes 1360000 dlr loss from discontinued operations
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
klm said it hoped the move would attract more british feeder traffic to amsterdam airport
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
first interstate i sells capital notes
i am not sure we can wait until late april he added
equiticorps offer for guinness peat became unconditional on october 3 when it had 506 pct and closed on october 17
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
unadjusted m 2 plus cds stood at an average 343600 billion yen in march compared with 336015 billion in february
goldman sachs co managed the deal
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
the cmb needs between 10 and 15 billion shillings the equivalent of seven to 10 mln dlrs to pay farmers and processors for coffee already delivered but its present export revenue is insufficient to cover such expenditure they said
the 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
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
wheat and soybean oil futures activity also rose from a year ago while soybean and soybean oil volume slipped the exchange said
jones and co
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
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
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
leeds permanent issues 50 mln stg bond
shl systemhouse inc shkif 2nd qtr feb 28 net
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
the trade ministry official said there was no sign of a palm oil shortage in indonesia
in comments on its latest export sales report the department said iraq japan and the ussr were the largest buyers
comex raises margins for silver futures
rockwell rok sees improvement in 1987
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
cumulative costs for the six year period 1984 to 1989 could approach 23 billion dlrs he said
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
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
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
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
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
midland bank unit issues 900 mln french franc frn
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
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
they can do it for a day in terms of intervention an hour a week maybe but not over a period of time
ec sources say uk wheat plan yet to be approved
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
critics said the bill leaves the door open for continued oil shipments to south africa
boliden says results burdened by loss writeoff
the notes can be called from september 26 1989 at 101 1 4 declining semi annually
the company said negotiations to restructure its debt and allow for continued operations are proceeding
american express said it will maintain 60 pct or 60 mln of the 100 mln shares of shearson that will be outstanding
the co lead managers are orion royal bank ltd and citicorp investment bank ltd
westlb luxembourg reports lower 1986 net profit
fed buys 500 mln dlrs of bills for customer
terms were not disclosed
sylvan learning corp slvn nine months dec 31
he did not elaborate
soybean season begins june 1
benetton is now holding talks with wall street firms about the possibility of receiving a quotation of its shares on the new york stock exchange
ibm was trading up 7 8 at 149 1 2 dlrs
neoax inc said it bought rexnord incs fairfield manufacturing co for 705 mln dlrs cash
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
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
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
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
we are not concerned about this and believe that the us presence in the war will make our nation even more serious
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
we did not expect the central bank to ease its credit grip any further a bank manager said adding that the prevailing market expectation of higher rates will remain
underwriters away from the syndicate said they believed the bank of america deal was priced too aggressively
sallie mae adjusts short term discount note rates
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
statistics indicate the budget deficit tripled in 1986 to 47 billion forints
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
korea expects its auto exports mostly for north america to balloon to 675000 units in 1987 from zero in 1985
in february alleghany agreed to buy cyclops steel and nonresidential construction business for 1116 mln dlrs in cash and the assumption of liabilities
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
cavalier homes inc cavh 4th qtr net
main features of new rubber pact
payment date is april 30
bankamerica corp bacn is coordinating private bank creditors in the far east and representing them on the committee they added
macandrews controls 318 pct of the voting power
bank of new york and the partners will retain about 10 pct each and these stakes will be bought over the next six years
china could not afford to become a major food importer he said
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
the industry trade association called on us securities firms to take steps to protect sensitive corporate secrets to guard against illegal trading by employees
pepsis soda is still sold in the wendys restaurants
some us lawmakers have proposed canadas share of the american market be limited to 24 per cent
the company said as a result of recent investments most of its assets now are located in the united states
production of natural gas liquids in 1986 declined slightly to 304178 bpd from 316310 said the report carried on the official saudi press agency